**REGISTERED CHARITY NUMBER: 326879**
## **REPORT OF THE TRUSTEES AND**
**UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**
## **FOR**
## **RADSTOCK MINISTRIES**
FKCA Limited 260 - 270 Butterfield Great Marlings Luton Bedfordshire LU2 8DL
**RADSTOCK MINISTRIES**
## **CONTENTS OF THE FINANCIAL STATEMENTS for the Year Ended 31 DECEMBER 2024**
|||**Page**||
|---|---|---|---|
|**Reference and Administrative Details**||1||
|**Report of the Trustees**|2|to|4|
|**Independent Examiner's Report**||5||
|**Statement of Financial Activities**||6||
|**Balance Sheet**||7||
|**Cash Flow Statement**||8||
|**Notes to the Cash Flow Statement**||9||
|**Notes to the Financial Statements**|10|to|21|
**RADSTOCK MINISTRIES**
## **REFERENCE AND ADMINISTRATIVE DETAILS for the Year Ended 31 DECEMBER 2024**
**TRUSTEES** Mrs K Jones Parry Mr A Adams Mr G. I. Gunnarsson Mr L Osborne Mrs J Bird Mr R Spencer **PRINCIPAL ADDRESS** 3 St Chad's Road Derby Derbyshire DE23 6RS **REGISTERED CHARITY** 326879 **NUMBER INDEPENDENT EXAMINER** FKCA Limited 260 - 270 Butterfield Great Marlings Luton Bedfordshire LU2 8DL
Page 1
**RADSTOCK MINISTRIES**
## **REPORT OF THE TRUSTEES for the Year Ended 31 DECEMBER 2024**
The trustees present their report with the financial statements of the charity for the year ended 31 December 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
## **OBJECTIVES AND AIMS**
The principal activity throughout the period under review was that of the advancement of the Christian faith. Radstock Ministries is a partnership of local churches which are committed to making known the good news of Jesus and demonstrating God's kingdom by sustainable social action as they encourage, support and strengthen each other.
## **ACHIEVEMENTS AND PERFORMANCE**
## **Charitable activities**
In line with regional and international strategic priorities, Director Anthony Adams continued to strengthen connections between churches within and beyond the Northern Europe region, despite some extended compassionate leave at the start of the year.
Building connections and sharing partnership opportunities was also at the heart of a visit from Balkans Director, Altin Kurraj, to the UK in April, touring churches in Liverpool, Sheffield, Derby, Luton, Redbourn and London. Similarly, Anthony Adams represented N.Europe partnership opportunities at the Radstock USA Regional Forum, and with individual churches in USA and Canada, in May, and co-hosted a UK church leader visiting multiple churches in the Balkans in August.
A Northern Europe Regional Day Forum was held in Derby, UK, in November, attended by c.30 church leaders and mission associates representing 8 churches. Network and Project Partners were also encouraged to come to the international Round Table, being held in Dubai (February 2025). As a scattered network, such events are very valuable to increase contact and connection between regional partner churches, and build more and deeper partnership with the wider Radstock network. Fundraising for churches, partners and projects elsewhere in Europe, and in Asia, also express and further partnerships beyond our own region.
These were all fulfilled in 2024 and/or remain in process into 2025. In this way we measure and assess success in our work, against items fulfilled from our strategic plan, and with reference to our principal activities (listed above) of developing partnerships, creating opportunities, coaching churches and providing expertise. Key performance indicators are thus that partnerships did develop and deepen between churches through mission visits, financial giving, prayer, and encouragement; opportunities were created in cooperation with the wider Radstock network, in supporting teams in new activities, such as advancing the christian faith through supporting new church teams, and fundraising for the bible distribution projects; churches were coached in how to think globally and advance the faith as the director and others visited and spent time with church leaders; and expertise wa provided to churches through teaching how to support workers, how to think globally and in applying scripture to congregations so that the global advancement of the christian faith becomes a greater emphasis.
## **FINANCIAL REVIEW**
## **Financial position**
Fundraising to keep up with the personnel needs and strategic aims of the network remains challenging, not least with churches and individuals facing their own increased living and ministry costs. Careful oversight, cost reductions and adjustments if needed, ensure expenditure is never significantly beyond income, and well within available reserves.
Two sub-groups, with overlapping personnel of trustees and team members, were established to manage both strategic decisions and practical management for a significant legacy gift. This will be used to meet needs and catalyse growth and opportunities in the network and the organisation(s) - both regionally and internationally.
The trustees confirm that they have referred to the guidance contained in Charity Commission’s general guidance on public benefit when setting their grant making policy for the year, in line with the charity’s aims and objectives.
Page 2
**RADSTOCK MINISTRIES**
## **REPORT OF THE TRUSTEES for the Year Ended 31 DECEMBER 2024**
## **FINANCIAL REVIEW**
## **Reserves policy**
It is the policy of the charity to maintain unrestricted funds, which are the free reserves of the charity, at a level which equates to approximately two months’ unrestricted expenditure. This provides sufficient funds to cover management, administration and support costs. Unrestricted funds were maintained at this level throughout the year. At the year end, unrestricted reserves were significantly higher than the reserves policy as during the year a legacy was received of £250,000.
The trustees have reviewed the excess reserves and agreed to bring the reserves in line with their polices. The excess reserves will be used for the following all of which are aligned with the Charity's objectives:
1. Interest-Generating Portion - An investment of part of the reserves into interest-bearing accounts or instruments, with the interest income used to fund Round Table and, where appropriate, other subsidies.
2. Second Round of Tithing - A further programme of grants to provide a one-off gift to each region within the network.
3. A fund to be used for regional Salaries and wider network grants .
Restricted and unrestricted funds held at 31 December 2024 were £72,407 and £279,506 (2023: £68,632 and £51,353) respectively.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
Radstock Ministries is a Registered Charity (reg. no. 326879) formed under a Trust Deed with Trustees who are incorporated as a body.
## **Trustees and leadership**
Although Radstock is an organic network at heart, and our primary activities are structured around project-based church partnerships, we also have an organisational structure designed to develop the network, promote cohesion and provide "back office" administrative services.
The appointment of new Trustees is considered by the existing Trustees to ensure that the board of Trustees has the appropriate skill sets to carry out its responsibilities. The induction process of new Trustees comprises an initial meeting at which the new Trustee is briefed, given background information documents listed in the Radstock Trustee Orientation document, inducted into US and UK procedures and given a specific job description. New trustees are provided with a copy of the Charity's most recent annual financial statements and other relevant documents.
The Board continued to provide strong, relational leadership in 2024, not least during the period of compassionate leave for Anthony Adams (Regional and Executive Director) and in prayerfully and thankfully managing the stewarding and initial distribution of a generous legacy donation.
## Board recruitment is a key priority for 2025.
The trustees are thankful for Anthony Adams’ ongoing leadership as regional director, and the work in support roles of Ashley McKnight, Alex Collins, Marco Hipwell and volunteers who give generously of their time and skills, including those who assist in the editing/production of newsletters; assist in the planning and execution of conferences and meetings; and supporting/serving on working groups.
## **Risk management**
The trustees examine the major risks which the charity faces each year when preparing the financial review, and regularly make re-assessments on an ongoing basis at periodic trustee meetings. The trustees confirm that systems have been established to enable regular reports to be produced so that the necessary steps can be taken to lessen these risks. The Trustees confirm that the major risk to which the Charity is exposed, as identified by the Trustees, have been reviewed and systems have been established to mitigate those risks.
Page 3
**RADSTOCK MINISTRIES**
## **REPORT OF THE TRUSTEES for the Year Ended 31 DECEMBER 2024**
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
........................................................................ Mrs K Jones Parry - Trustee
Page 4
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF RADSTOCK MINISTRIES**
## **Independent examiner's report to the trustees of Radstock Ministries**
I report to the charity trustees on my examination of the accounts of Radstock Ministries (the Trust) for the year ended 31 December 2024.
## **Responsibilities and basis of report**
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
## **Independent examiner's statement**
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Tara Aldwin ACA
FKCA Limited 260 - 270 Butterfield Great Marlings Luton Bedfordshire LU2 8DL
Date: .............................................
Page 5
## **RADSTOCK MINISTRIES**
## **STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31 DECEMBER 2024**
|Unrestricted
funds
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
293,953
**EXPENDITURE ON**
**Charitable activities**
3
Costs of activities in furtherance of the objects of
the ministry
58,338
**NET INCOME/(EXPENDITURE)**
235,615
**Transfers between funds**
12
(5,302)
**Net movement in funds**
230,313
**RECONCILIATION OF FUNDS**
Total funds brought forward
51,353
**TOTAL FUNDS CARRIED FORWARD**
281,666|Restricted
funds
£
269,187
272,874
(3,687)
5,302
1,615
68,632
70,247|2024
Total
funds
£
563,140
331,212
231,928
-
231,928
119,985
351,913|2023
Total
funds
£
280,388
274,931
5,457
-
5,457
114,528
119,985|
|---|---|---|---|
The notes form part of these financial statements
Page 6
## **RADSTOCK MINISTRIES**
## **BALANCE SHEET 31 DECEMBER 2024**
|Unrestricted
funds
Notes
£
**FIXED ASSETS**
Tangible assets
9
46,801
**CURRENT ASSETS**
Debtors
10
245
Cash at bank
235,562
235,807
**CREDITORS**
Amounts falling due within one year
11
(942)
**NET CURRENT ASSETS**
234,865
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
281,666
**NET ASSETS**
281,666
**FUNDS**
12
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|Restricted
funds
£
-
2,475
67,772
70,247
-
70,247
70,247
70,247|2024
Total
funds
£
46,801
2,720
303,334
306,054
(942)
305,112
351,913
351,913
281,666
70,247
351,913|2023
Total
funds
£
46,815
5,155
69,038
74,193
(1,023)
73,170
119,985
119,985
51,353
68,632
119,985|
|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. Mrs K Jones Parry - Trustee
The notes form part of these financial statements
Page 7
## **RADSTOCK MINISTRIES**
## **CASH FLOW STATEMENT for the Year Ended 31 DECEMBER 2024**
|Notes
**Cash flows from operating activities**
Cash generated from operations
1
Net cash provided by operating activities
**Change in cash and cash equivalents in**
**the reporting period**
**Cash and cash equivalents at the**
**beginning of the reporting period**
**Cash and cash equivalents at the end of**
**the reporting period**|2024
£
234,296
234,296
234,296
69,038
303,334|2023
£
2,730
2,730
2,730
66,308
69,038|
|---|---|---|
The notes form part of these financial statements
Page 8
**RADSTOCK MINISTRIES**
## **NOTES TO THE CASH FLOW STATEMENT for the Year Ended 31 DECEMBER 2024**
## **1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES**
|||2024|2023|
|---|---|---|---|
|||£|£|
|**Net income for the reporting period (as per the Statement of Financial**||||
|**Activities)**||231,928|5,457|
|**Adjustments for:**||||
|Depreciation charges||14|20|
|Decrease/(increase) in debtors||2,435|(2,885)|
|(Decrease)/increase in creditors||(81)|138|
|**Net cash provided by operations**||234,296|2,730|
|**ANALYSIS OF CHANGES IN NET FUNDS**||||
|**Net cash**|At 1.1.24
£|Cash flow
£|At 31.12.24
£|
|Cash at bank|69,038|234,296|303,334|
||69,038|234,296|303,334|
|**Total**|69,038|234,296|303,334|
## **2. ANALYSIS OF CHANGES IN NET FUNDS**
The notes form part of these financial statements
Page 9
**RADSTOCK MINISTRIES**
## **NOTES TO THE FINANCIAL STATEMENTS for the Year Ended 31 DECEMBER 2024**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
The charity constitutes a public benefit entity as defined by FRS 102.
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.
The presentation currency is GBP (£).
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to that category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
## **Charitable activities**
Charitable activities consist of the direct costs of activities in furtherance of the objects of the ministry as well as related support costs.
## **Governance costs**
Governance costs comprise all costs involving the public accountability of the Charity and its compliance with regulation and good practice. These costs include costs related to the independent examination of the Charity and accountancy charges.
## **Allocation and apportionment of costs**
Overhead and support costs have been allocated between charitable activities based on an estimate of time spent or usage by the activity to which they relate. The allocation is analysed in the notes to the accounts.
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 30% on reducing balance
Depreciation is not charged on the freehold property on the grounds that the amount is immaterial, as at this time the estimated residual value of the asset is not expected to fall below the carrying value. An impairment review is to be carried out on an annual basis.
Tangible fixed assets are recognised at cost less depreciation.
## **Taxation**
The charity is exempt from tax on its charitable activities.
continued...
Page 10
**RADSTOCK MINISTRIES**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 DECEMBER 2024**
## **1. ACCOUNTING POLICIES - continued**
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **Donated services**
In accordance with the Charities SORP (FRS 102), the general volunteer time is not recognised in the financial statements.
## **Value added tax**
Value added tax is not recoverable by the charity, and as such is included in the relevant costs in the Statement of Financial Activities.
## **Debtors, cash and creditors**
## **Debtors**
Debtors are recognised at the settlement amount due.
## **Cash at bank and in hand**
Cash at bank represents the balance in the bank as at the year end which includes both restricted and unrestricted funds.
## **Creditors**
Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably.
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments.
## **2. DONATIONS AND LEGACIES**
|Donations
Legacies|2024
£
313,140
250,000
563,140|2023
£
280,388
-
280,388|
|---|---|---|
continued...
Page 11
## **RADSTOCK MINISTRIES**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 DECEMBER 2024**
## **3. CHARITABLE ACTIVITIES COSTS**
|Direct
Support
Costs (see
costs (see
note 4)
note 5)
£
£
Costs of activities in furtherance of the
objects of the ministry
309,404
21,808
**4.**
**DIRECT COSTS OF CHARITABLE ACTIVITIES**
2024
£
Staff costs
17,780
Designated fund payments
291,624
Property expenditure
-
309,404
**5.**
**SUPPORT COSTS**
Governance
Management
costs
£
£
Costs of activities in furtherance of the
objects of the ministry
20,050
1,758|Totals
£
331,212
2023
£
15,640
231,379
7,649
254,668
Totals
£
21,808|
|---|---|
## **6. TRUSTEES' REMUNERATION AND BENEFITS**
Anthony Adams received £12,000 (2023: 12,000) for fees as his acting role as regional director. This is inline with the provisions included within the governing document of the charity.
## **Trustees' expenses**
During the year, travel expenses were reimbursed to 1 trustee totalling £2,295 (2023: £1,414).
## **7. STAFF COSTS**
The average number of employees during the year was 1 (2023: 1).
There are no employees who received total employee benefits (excluding employer pension costs) of more than £60,000.
## **8. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
|Unrestricted
funds
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
38,075
**EXPENDITURE ON**
**Charitable activities**
Costs of activities in furtherance of the objects
of the ministry
43,552
**NET INCOME/(EXPENDITURE)**
(5,477)
**Transfers between funds**
(101)|Restricted
funds
£
242,313
231,379
10,934
101|Total
funds
£
280,388
274,931
5,457
-|
|---|---|---|
continued...
Page 12
## **RADSTOCK MINISTRIES**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 DECEMBER 2024**
|**8.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**
Unrestricted
Restricted
funds
funds
£
£
**Net movement in funds**
(5,578)
11,035
**RECONCILIATION OF FUNDS**
Total funds brought forward
56,931
57,597
**TOTAL FUNDS CARRIED FORWARD**
51,353
68,632
**9.**
**TANGIBLE FIXED ASSETS**
Freehold
Computer
property
equipment
£
£
**COST**
At 1 January 2024 and 31 December 2024
46,770
800
**DEPRECIATION**
At 1 January 2024
-
755
Charge for year
-
14
At 31 December 2024
-
769
**NET BOOK VALUE**
At 31 December 2024
46,770
31
At 31 December 2023
46,770
45
**10.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
2024
£
Other debtors
-
Accrued income
2,720
2,720|Total
funds
£
5,457
114,528
119,985
Totals
£
47,570
755
14
769
46,801
46,815
2023
£
1,680
3,475
5,155|
|---|---|
continued...
Page 13
**RADSTOCK MINISTRIES**
**NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 DECEMBER 2024**
**11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Other creditors
|2024|2023|
|---|---|
|£|£|
|942|1,023|
continued...
Page 14
## **RADSTOCK MINISTRIES**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 DECEMBER 2024**
## **12. MOVEMENT IN FUNDS**
|**Unrestricted funds**
General fund
Fixed asset fund
**Restricted funds**
Ichthus
P. Williams
Artur Tushi
RC14. 11
Paulin Veliceku
S & K Halilaj
G. Begu
Myanmar
K. Callaghan
F & M Zenelaj
Edi Gjoni
Sam Goldsmith
Seedtime Mongolia special projects
Schroeder
AK Coalition
A. Adams
Albania
B. Jose
Gostivar
S. Attwood
KIEV
Urban Life Church Derby
Kristian Kotorri
Church Planter Training Tetovo
Gjilan Kosovo
Iceland
Richard and Naomi Grindley
Travel to Russia
Alan Giles
Church Planter Training Academy Fund
Oggie Choilamts
Cambodia
Greg Reader
Ilir & Megan Stambolliu
Ukraine appeal 2022
Pakistan Emergency Relief
Seedtime
Kinsale round tables
Adv fundraising
Kinsale Baptist Church
Amy Patterson
Craig & Heather Maiden
Suffering believers
**TOTAL FUNDS**|At 1.1.24
£
4,538
46,815
51,353
183
1,353
402
559
749
399
460
2,241
4
286
87
183
1,220
190
21,693
1,815
657
7,092
510
702
51
-
20
5
901
468
341
950
269
252
5
1,612
212
641
3,503
-
1,009
2,248
160
720
14,349
131
-
68,632
119,985|Net
movement
in funds
£
235,629
(14)
235,615
-
(206)
(66)
-
(64)
207
87
1,093
-
3,184
-
-
3,818
-
(1,453)
(638)
178
(4,231)
225
139
-
391
-
-
-
4,932
(259)
-
-
-
-
360
190
285
160
98
(822)
(7,489)
(160)
(741)
(3,322)
200
217
(3,687)
231,928|Transfers
between
funds
£
(5,302)
-
(5,302)
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
5,241
-
61
-
-
-
5,302
-|At
31.12.24
£
234,865
46,801
281,666
183
1,147
336
559
685
606
547
3,334
4
3,470
87
183
5,038
190
20,240
1,177
835
2,861
735
841
51
391
20
5
901
5,400
82
950
269
252
5
1,972
402
926
3,663
98
187
-
-
40
11,027
331
217
70,247
351,913|
|---|---|---|---|---|
continued...
Page 15
## **RADSTOCK MINISTRIES**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 DECEMBER 2024**
## **12. MOVEMENT IN FUNDS - continued**
Net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
Fixed asset fund
**Restricted funds**
P. Williams
Artur Tushi
Paulin Veliceku
S & K Halilaj
G. Begu
Myanmar
F & M Zenelaj
Seedtime Mongolia special projects
AK Coalition
A. Adams
Albania
B. Jose
Gostivar
S. Attwood
Urban Life Church Derby
Gjilan Kosovo
Iceland
Richard and Naomi Grindley
Cambodia
Greg Reader
Ilir & Megan Stambolliu
Ukraine appeal 2022
Pakistan Emergency Relief
Seedtime
Kinsale round tables
Adv fundraising
Kinsale Baptist Church
Amy Patterson
Craig & Heather Maiden
Suffering believers
**TOTAL FUNDS**|Incoming
resources
£
293,953
-
293,953
9,711
6,562
5,928
7,223
2,397
2,910
14,514
17,709
36,213
48,027
6,563
23,013
250
18,319
2,961
1,200
5,480
(259)
3,798
200
300
256
109
28,174
2,293
(160)
1,630
19,225
4,400
241
269,187
563,140|Resources
Movement
expended
in funds
£
£
(58,324)
235,629
(14)
(14)
(58,338)
235,615
(9,917)
(206)
(6,628)
(66)
(5,992)
(64)
(7,016)
207
(2,310)
87
(1,817)
1,093
(11,330)
3,184
(13,891)
3,818
(37,666)
(1,453)
(48,665)
(638)
(6,385)
178
(27,244)
(4,231)
(25)
225
(18,180)
139
(2,570)
391
(1,200)
-
(548)
4,932
-
(259)
(3,438)
360
(10)
190
(15)
285
(96)
160
(11)
98
(28,996)
(822)
(9,782)
(7,489)
-
(160)
(2,371)
(741)
(22,547)
(3,322)
(4,200)
200
(24)
217
(272,874)
(3,687)
(331,212)
231,928|
|---|---|---|
continued...
Page 16
**RADSTOCK MINISTRIES**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 DECEMBER 2024**
## **12. MOVEMENT IN FUNDS - continued**
## **Comparatives for movement in funds**
|**Unrestricted funds**
General fund
Fixed asset fund
**Restricted funds**
Ichthus
P. Williams
Artur Tushi
RC14. 11
Paulin Veliceku
S & K Halilaj
G. Begu
Myanmar
K. Callaghan
F & M Zenelaj
Edi Gjoni
Sam Goldsmith
Seedtime Mongolia special projects
Schroeder
AK Coalition
A. Adams
Albania
B. Jose
Gostivar
S. Attwood
Balkans
KIEV
Urban Life Church Derby
Kristian Kotorri
Church Planter Training Tetovo
Gjilan Kosovo
Iceland
Richard and Naomi Grindley
Travel to Russia
Alan Giles
Church Planter Training Academy Fund
Oggie Choilamts
Cambodia
Greg Reader
Ilir & Megan Stambolliu
Ukraine appeal 2022
Seedtime
Kinsale round tables
Adv fundraising
Kinsale Baptist Church
Amy Patterson
Craig & Heather Maiden|At 1.1.23
£
10,096
46,835
56,931
183
3,949
430
559
749
615
322
2,319
4
3,196
87
64
297
190
9,767
3,752
562
3,930
285
4,683
135
51
460
20
5
916
36
604
950
269
252
5
3,902
-
356
8,961
2,944
1,723
65
-
-
-
57,597|Net
movement
in funds
£
(5,457)
(20)
(5,477)
-
(2,596)
(28)
-
-
(216)
138
(78)
-
(2,910)
-
119
923
-
11,926
(1,937)
95
3,162
225
(3,981)
(135)
-
(561)
-
-
(15)
432
(263)
-
-
-
-
(2,290)
212
285
(5,458)
(1,935)
525
95
720
14,349
131
10,934|Transfers
between
funds
£
(101)
-
(101)
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
101
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
101|At
31.12.23
£
4,538
46,815
51,353
183
1,353
402
559
749
399
460
2,241
4
286
87
183
1,220
190
21,693
1,815
657
7,092
510
702
-
51
-
20
5
901
468
341
950
269
252
5
1,612
212
641
3,503
1,009
2,248
160
720
14,349
131
68,632|
|---|---|---|---|---|
continued...
Page 17
## **RADSTOCK MINISTRIES**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 DECEMBER 2024**
|**12.**
**MOVEMENT IN FUNDS - continued**
**TOTAL FUNDS**
114,528
5,457
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
38,075
Fixed asset fund
-
38,075
**Restricted funds**
P. Williams
9,840
Artur Tushi
6,919
Paulin Veliceku
7,155
S & K Halilaj
4,233
G. Begu
3,760
Myanmar
1,180
F & M Zenelaj
10,376
Sam Goldsmith
125
Seedtime Mongolia special projects
2,328
AK Coalition
45,300
A. Adams
43,762
Albania
100
B. Jose
16,638
Gostivar
250
S. Attwood
14,286
Balkans
-
Urban Life Church Derby
5,929
Gjilan Kosovo
1,200
Iceland
480
Richard and Naomi Grindley
662
Cambodia
4,984
Greg Reader
417
Ilir & Megan Stambolliu
300
Ukraine appeal 2022
2,795
Pakistan Emergency Relief
43
Seedtime
25,021
Kinsale round tables
9,716
Adv fundraising
95
Kinsale Baptist Church
800
Amy Patterson
18,494
Craig & Heather Maiden
5,125
242,313
**TOTAL FUNDS**
280,388|-
119,985
Resources
Movement
expended
in funds
£
£
(43,532)
(5,457)
(20)
(20)
(43,552)
(5,477)
(12,436)
(2,596)
(6,947)
(28)
(7,155)
-
(4,449)
(216)
(3,622)
138
(1,258)
(78)
(13,286)
(2,910)
(6)
119
(1,405)
923
(33,374)
11,926
(45,699)
(1,937)
(5)
95
(13,476)
3,162
(25)
225
(18,267)
(3,981)
(135)
(135)
(6,490)
(561)
(1,215)
(15)
(48)
432
(925)
(263)
(7,274)
(2,290)
(205)
212
(15)
285
(8,253)
(5,458)
(43)
-
(26,956)
(1,935)
(9,191)
525
-
95
(80)
720
(4,145)
14,349
(4,994)
131
(231,379)
10,934
(274,931)
5,457|
|---|---|
continued...
Page 18
**RADSTOCK MINISTRIES**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 DECEMBER 2024**
## **12. MOVEMENT IN FUNDS - continued**
A current year 12 months and prior year 12 months combined position is as follows:
|**Unrestricted funds**
General fund
Fixed asset fund
**Restricted funds**
Ichthus
P. Williams
Artur Tushi
RC14. 11
Paulin Veliceku
S & K Halilaj
G. Begu
Myanmar
K. Callaghan
F & M Zenelaj
Edi Gjoni
Sam Goldsmith
Seedtime Mongolia special projects
Schroeder
AK Coalition
A. Adams
Albania
B. Jose
Gostivar
S. Attwood
Balkans
KIEV
Urban Life Church Derby
Kristian Kotorri
Church Planter Training Tetovo
Gjilan Kosovo
Iceland
Richard and Naomi Grindley
Travel to Russia
Alan Giles
Church Planter Training Academy Fund
Oggie Choilamts
Cambodia
Greg Reader
Ilir & Megan Stambolliu
Ukraine appeal 2022
Pakistan Emergency Relief
Seedtime
Kinsale round tables
Adv fundraising
Kinsale Baptist Church
Amy Patterson
Craig & Heather Maiden
Suffering believers|At 1.1.23
£
10,096
46,835
56,931
183
3,949
430
559
749
615
322
2,319
4
3,196
87
64
297
190
9,767
3,752
562
3,930
285
4,683
135
51
460
20
5
916
36
604
950
269
252
5
3,902
-
356
8,961
-
2,944
1,723
65
-
-
-
-|Net
movement
in funds
£
230,172
(34)
230,138
-
(2,802)
(94)
-
(64)
(9)
225
1,015
-
274
-
119
4,741
-
10,473
(2,575)
273
(1,069)
450
(3,842)
(135)
-
(170)
-
-
(15)
5,364
(522)
-
-
-
-
(1,930)
402
570
(5,298)
98
(2,757)
(6,964)
(65)
(21)
11,027
331
217|Transfers
between
funds
£
(5,403)
-
(5,403)
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
101
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
5,241
-
61
-
-
-|At
31.12.24
£
234,865
46,801
281,666
183
1,147
336
559
685
606
547
3,334
4
3,470
87
183
5,038
190
20,240
1,177
835
2,861
735
841
-
51
391
20
5
901
5,400
82
950
269
252
5
1,972
402
926
3,663
98
187
-
-
40
11,027
331
217|
|---|---|---|---|---|
continued...
Page 19
## **RADSTOCK MINISTRIES**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 DECEMBER 2024**
|**12.**
**MOVEMENT IN FUNDS - continued**
**TOTAL FUNDS**|57,597
114,528|7,247
237,385|5,403
-|70,247
351,913|
|---|---|---|---|---|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
Fixed asset fund
**Restricted funds**
P. Williams
Artur Tushi
Paulin Veliceku
S & K Halilaj
G. Begu
Myanmar
F & M Zenelaj
Sam Goldsmith
Seedtime Mongolia special projects
AK Coalition
A. Adams
Albania
B. Jose
Gostivar
S. Attwood
Balkans
Urban Life Church Derby
Gjilan Kosovo
Iceland
Richard and Naomi Grindley
Cambodia
Greg Reader
Ilir & Megan Stambolliu
Ukraine appeal 2022
Pakistan Emergency Relief
Seedtime
Kinsale round tables
Adv fundraising
Kinsale Baptist Church
Amy Patterson
Craig & Heather Maiden
Suffering believers
**TOTAL FUNDS**|Incoming
resources
£
332,028
-
332,028
19,551
13,481
13,083
11,456
6,157
4,090
24,890
125
20,037
81,513
91,789
6,663
39,651
500
32,605
-
8,890
2,400
5,960
403
8,782
617
600
3,051
152
53,195
12,009
(65)
2,430
37,719
9,525
241
511,500
843,528|Resources
Movemen
expended
in funds
£
£
(101,856)
230,172
(34)
(34)
(101,890)
230,138
(22,353)
(2,802)
(13,575)
(94)
(13,147)
(64)
(11,465)
(9)
(5,932)
225
(3,075)
1,015
(24,616)
274
(6)
119
(15,296)
4,741
(71,040)
10,473
(94,364)
(2,575)
(6,390)
273
(40,720)
(1,069)
(50)
450
(36,447)
(3,842)
(135)
(135)
(9,060)
(170)
(2,415)
(15)
(596)
5,364
(925)
(522)
(10,712)
(1,930)
(215)
402
(30)
570
(8,349)
(5,298)
(54)
98
(55,952)
(2,757)
(18,973)
(6,964)
-
(65)
(2,451)
(21)
(26,692)
11,027
(9,194)
331
(24)
217
(504,253)
7,247
(606,143)
237,385|
|---|---|---|
continued...
Page 20
**RADSTOCK MINISTRIES**
## **NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 DECEMBER 2024**
## **12. MOVEMENT IN FUNDS - continued**
## **Transfers between funds**
During the year, £5,302 was transfered from the general fund to restricted funds to cover overspend of restricted funds.
The restricted fund balances are for the advancement of Christian faith, each balance represents local churches which are committed to making good news of Jesus and demonstrating God's kingdom by sustainable social action as they encourage, support and strengthen.
## **13. CONTINGENT ASSET**
As of 31 December 2024, the charity has been notified of a potential legacy receivable that could provide a future economic benefit. However, the timing and amount of this legacy cannot be reliably estimated at this stage due to uncertainties regarding the asset’s distribution.
In accordance with the SORP, this legacy receivable has not been recognised as an asset in these financial statements. The charity will continue to monitor developments, and the asset will be recognised in the accounts when full amount can reliably estimated.
In July 2024, the first distribution was received for £250,000.
## **14. RELATED PARTY DISCLOSURES**
Anthony Adams (Trustee) and Brian Jose (Executive director) both run projects for the charity in their roles as mission associates. Details of their transactions can be seen in note 6 and note 12.
During the year $Nil (2023: $10,000 / £7,469) was paid to Brian Jose by Radstock USA on behalf of Radstock Ministries for his deemed share of the flat. There are no amounts due to Radstock USA at the year end.
## **15. INDEPENDENT EXAMINER'S FEES**
The independent examiner's fee for the examination of the accounts for the year ending 31 December 2024 is £942 (2023: £1,000).
The independent examiner's fee for non-IE services for the year ending 31 December 2024 is £942 (2023: £1,000).
Page 21
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## **Signature 1**
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