**Draft Financial Statements at 27 March 2026 at 12:05:57**
**Charity registration number 327384 (England and Wales)**
## **OUR DAILY BREAD MINISTRIES TRUST**
**ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025**
**Draft Financial Statements at 27 March 2026 at 12:05:57 OUR DAILY BREAD MINISTRIES TRUST**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
**Trustees** Rev A Afuye Mr S Apted Ms S E Hurdle (Appointed 17 December 2025) Dr T C Lam (Appointed 17 September 2025) Mr S Hewitt (Appointed 17 September 2025) Mr M G Fowles **Charity number (England and Wales)** 327384 **Principal address** Unit 5 Shoreline Business Park Sandside Milnthorpe Cumbria England LA7 7BF **Auditor** Xeinadin Audit Limited Dalton House 9 Dalton Square Lancaster Lancashire United Kingdom LA1 1WD **Bankers** National Westminster Bank Plc 35 Bishopgate London Greater London United Kingdom EC2M 3UR
**Draft Financial Statements at 27 March 2026 at 12:05:57 OUR DAILY BREAD MINISTRIES TRUST**
## **CONTENTS**
||**Page**|
|---|---|
|Trustees' report|1 - 17|
|Independent auditor's report|18 - 21|
|Statement of financial activities|22 - 23|
|Balance sheet|24|
|Statement of cash flows|25|
|Notes to the financial statements|26 - 37|
## **Our Daily Bread Ministries Trustees’ Annual Report**
For the year ended **31 December 2025**
## **1. Reference and Administrative Details**
**Charity Name:** Our Daily Bread Ministries
**Registered Charity Number:** 327384
**Principal Address:** Unit 5, Shoreline Business Park, Sandside, MILNTHORPE, LA7 7BF
## **Trustees during the year:**
- Mr Steve Apted (Chair)
- Mr David Mills (resigned 23/4/2025)
- Rev Ayo Afuye
- Mr Mike G Fowles
- Mr M J Jazz (deceased 30/9/2025)
- Mr Steven Hewit (appointed)
- Mrs Samantha Hurdle (appointed)
- Dr TC Lamb (appointed)
## **Key Management Personnel:**
- Steve Mitchell Senior Vice President Europe
- Peta Levinia Heron Vice President Europe
## **Auditors / Independent Examiner:**
Xeinadin Audit Limited, Accountants and Statutory Auditors ,Dalton House,9 Dalton Square LANCASTER, LAI 1WD
## **Bankers:**
National Westminster Bank Plc, 35 Bishopgate, LONDON, EC2M 3UR
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## **2. Structure, Governance and Management**
Our Daily Bread Ministries Trust is an Unincorporated Association governed by a declaration of Trust dated 27 February 1987 as amended by deeds of variation dated 5 October 1999 and 12 May 2006. Appointment of trustees is vested in the trustees
Day-to-day leadership is delegated to the Senior Vice President of Europe and senior leadership team, who report to the trustees at regular board meetings.
The trustees maintain a register of interests and ensure any conflicts are declared and appropriately managed.
The trustees have also noted the further provisions of the Charities Act 2022 that came into force in 2025 and will ensure ongoing compliance with the updated regulatory requirements
## **Methods for the Recruitment and Appointment of Trustees**
The trustees are appointed in accordance with the provisions of the governing document. When a vacancy arises, the board undertakes a review of the current and future skill requirements to ensure a balanced mix of experience, expertise, and diversity. Potential candidates are identified through a combination of trustee networks, organisational recommendations, and—where appropriate—open recruitment.
All candidates are assessed against the eligibility requirements set out in charity law and the Charity Commission’s guidance on trustee duties. Prospective trustees are interviewed by a panel of existing trustees to evaluate their suitability, understanding of the charity’s mission, and alignment with the values of Our Daily Bread Ministries. Prior to appointment, individuals are required to declare any conflicts of interest. Final appointments are approved by the full trustee board.
## **Policies and Procedures for the Induction and Training of Trustees**
Newly appointed trustees receive a structured induction designed to equip them to carry out their responsibilities effectively. This includes an induction pack containing the trust deed, the most recent annual report and financial statements, minutes of recent board meetings, key organisational policies, and an overview of strategic priorities.
Trustees also meet with the Chair, key members of the senior leadership team, and relevant personnel to gain a deeper understanding of the ministry’s operations, culture, and governance framework. Training is provided on key responsibilities, including financial oversight, safeguarding, data protection, and risk management. Trustees are encouraged to attend external training and are provided with updates on legal, regulatory, and governance developments to support their ongoing effectiveness.
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## **External Appointments to the Board**
In accordance with the governing document, no external body or individual holds the right to appoint trustees. All trustee appointments are made by the existing trustee board following the recruitment and assessment process described above.
## **3. Objectives and Activities**
Our Daily Bread Ministries (ODBM) is a charity dedicated to promoting the Christian faith through Bible engagement. The charity’s purposes, as set out in its governing document, are to:
- proclaim and advance the Gospel of Jesus Christ through preaching and teaching the Christian faith across the UK, Europe, and beyond.
- promote and sponsor nondenominational Christian work across these regions.
- lead people of all ages to saving faith in Jesus Christ and support and encourage them in that faith.
To achieve these purposes, the charity carried out the following key activities during the year:
- modernised and upgraded our technology systems to help people access God’s Word at any time, making Scripture more accessible to all;
- encouraged deeper engagement with the Bible through a wide range of clear and accessible print, digital, and audio resources.
- produced and distributed diverse Bible‑rooted content designed to help people connect with God each day;
- provided daily devotionals and evening meditations in audio formats to increase accessibility for those who prefer or require listening rather than reading;
- engaged people of all ages through digital platforms, social media, and online discipleship tools;
- created resources that present Christianity in a clear, welcoming, and nondenominational manner.
These activities directly further our charitable aims by helping people across the UK, Europe, and beyond to learn, grow, and be encouraged through the life‑changing wisdom of the Bible
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## **4. Public Benefit Statement**
The trustees confirm that they have complied with their duty under the Charities Act 2011 to have due regard to the Charity Commission’s guidance on public benefit.
Our Daily Bread Ministries provides public benefit in the following ways:
## **1. Advancing Christian Understanding Through Accessible Materials**
ODBM provides free or low‑cost Christian resources to help people understand, engage with, and be supported in their faith. Materials are available to anyone, regardless of background or denomination, through print, digital, and audio formats. Accessibility needs are actively addressed through audio resources for those who struggle to read, large‑print editions for those with visual impairments, and online language options enabling people to read God’s Word in the language most helpful to them.
## **2. Supporting Spiritual Exploration and Personal Growth**
Research and church feedback highlight a growing number of people across the UK and Europe who are exploring Christianity, including many who would not describe themselves as having a faith. In response, ODBM provides accessible, Bible‑rooted content that helps individuals explore spiritual questions in a clear and welcoming way. Through social media, digital platforms, and our website, we communicate the Christian message in an open and engaging manner.
## **3. Promoting Wellbeing Through Faith‑Centred Resources**
Our resources cover both core discipleship areas—such as prayer, Scripture, and spiritual formation—and wider themes including mental health and wellbeing. These materials offer encouragement, clarity, and hope to people experiencing personal challenges.
## **4. Strengthening Communities by Equipping Individuals and Churches**
By equipping individuals, small groups, and churches with trusted biblical tools, ODBM supports meaningful spiritual engagement and personal transformation. Our resources help strengthen faith communities and enable people to grow in confidence, understanding, and Christian maturity.
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## **5. Strategic Report: Achievements and Performance**
## **5.1 Annual Objectives and Progress**
## **Our Mission:**
To make the life‑changing wisdom of the Bible understandable and accessible to all.
## **Our Vision:**
To see people of all nations experiencing a personal relationship with Christ, growing to be more like Him, and serving in a local body of His family.
## **Summary**
During 2025, Our Daily Bread Ministries (UK and Europe) focused on accelerating digital transformation, strengthening processes and governance, and deepening Bible engagement by increasing accessibility to high‑quality content. These priorities supported our mission to make the life‑changing wisdom of the Bible understandable and accessible to all, and contributed directly to public benefit through free, user‑friendly resources available in print, audio, and digital formats.
This year was one of significant growth and momentum as we created the culture and conditions for stable growth. The introduction of new technology systems enhanced engagement among new subscribers and improved the experience for existing users. We are deeply thankful for the support of our board, the courage of our leaders, the resilience of our staff and volunteers, and the global partnerships that have strengthened this transformation journey.
## **5.2 Objectives, Progress & Performance in 2025**
## **Objective 1: Technology Transformation**
## **Goal:**
Lead the global rollout of a new CRM system with a go‑live date of May 2025, ensuring alignment with local workflows.
## **Performance and Progress:**
- Project delivered **on time and on budget** .
- The end‑to‑end technology stack that supports customer interactions is embedding well and provides a strong foundation for improved customer service, future growth, and operational stability.
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## **Key Achievements:**
- Seamless implementation with no service disruption.
- Improved access to meaningful data to support strategic decisions and stewardship.
- Time efficiencies gained enabled a staff restructure to strengthen team resilience, better utilise giftings, and reduce single points of failure.
- Staff demonstrated exceptional resilience, helping shape new processes while maintaining service excellence.
- Expanded payment options now include **Stripe and Apple Pay** , improving customer experience.
- Strengthened global partnerships, enabling shared learning across the organisation.
- Transitioned from Google Workspace to **Microsoft 365** , enhancing security and productivity.
- **Website upgrade** supported a clearer ministry narrative and strengthened digital presence, contributing to growth in subscriber numbers.
- Financial gifts in Europe increased by **21.4%** since the new CRM implementation, including gifts from new donors.
- The UK and Europe teams now have the ability to update the local website independently, ensuring timely support for subscribers.
- Website functionality now enables subscribers to self‑serve and manage their own accounts.
- Improved data and increased efficiency supported the launch of an **Operations Hub** , enabling agile, evidence‑based improvements.
## **Objective 2: Accelerated Content Development (Digital‑First)**
## **Goal: make content that is accessible and understandable to all.**
## **Performance and Progress:**
Initiatives across 2025 ensured our content remained relevant to both Christians and those
exploring faith. We invested in helping people progress through “pathways” that support deeper engagement.
## **Key Achievements:**
- Content continues to resonate strongly with both existing and new audiences.
- App usage in the UK reached **93,601 active users** ; in Europe, **174,675** , including **60,652 new users** .
- UK‑produced evening meditations passed **7 million downloads** globally and consistently rank among top global non‑Christian podcast downloads, demonstrating broad accessibility.
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- Since the website launch, **29,616 items of content** have been downloaded for free.
- The top 10 downloaded materials reflect wider cultural research showing increasing hunger for hope and meaning. (see figure 1)
- Continued production of printed materials, including large‑print formats. Printed material requests increased after the system upgrade.
- **281,000 newsletters** sent to engaged subscribers during 2025.
- Distribution channels included direct mail, churches, cafés, bookshops, and quantity distributors, expanding indirect reach.
- Following intentional relationship‑building in Northern Ireland, **1,692 new subscribers** engaged with the ministry.
- Hosted a global summit to shape and strengthen digital content development.
- Contributed to published research on _The Power of 4_ , demonstrating the impact of regular Bible engagement on wellbeing.
- Continued collaboration with authors across the region to ensure high‑quality, nondenominational, compassionate content.
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**Figure 1**
## **Objective 3: Developing Our People for Sustainable Service**
## **Goal: to support, care and equip people for transition** .
## **Performance and Progress:**
We are deeply grateful for answered prayer and the commitment of our staff. Significant steps were taken to equip individuals, teams, and structures for the future.
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## **Key Achievements:**
## _**Board Development**_
- Recruited three new trustees with expertise in finance, culture/people, and project management.
- Board now reflects greater diversity in gender, ethnicity, and age, strengthening insight for a wider European context.
## _**Leadership**_
- Appointment of a new Country Director (February 2025) with experience in change management and leadership development.
- Introduced new leadership development sessions and improved meeting structures.
- Coaching and mentoring provided throughout the technology transition.
- Ministry‑wide training and strategic planning with focus on shepherd leadership, interdependency, and culture.
## _**UK and Europe Colleagues**_
- Skills strengthened through cross‑regional collaboration and training.
- Ongoing coaching to embed new systems.
- Restructure to address single points of failure and improve resource stewardship.
- Creation of an **Operations Hub** and **Innovation Hub** to empower staff in continuous improvement.
- Strengthened processes and governance to support consistency, fairness, and accountability.
## _**Volunteers**_
- Blessed by faithful volunteers, mostly of retirement age, who help reduce staff costs through picking and packing.
- We thank the Lord for their servant‑hearted service.
## _**Global Colleagues**_
- Strengthened relationships enabling shared learning and shared resources.
- Influence at global level through participation of Senior Vice President and UK Board Chair on global executive forums.
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## **Conclusion**
Throughout 2025, the ministry focused on building a strong foundation for future sustainability. We now have both the technology and the people infrastructure to respond to the needs of society, as reflected in research and engagement.
We enter 2026 with a more resilient team growing in strategic thinking and activity, better equipped to serve the spiritual needs of Christians and those exploring faith.
## **5.3 Challenges and Learning**
## **Technology transformation: Challenge**
The pace of technological change was challenging for some colleagues, particularly in the early stages. Despite this, teams demonstrated remarkable commitment, adapting quickly and contributing significantly to the successful delivery of the project.
As expected, the new system continues to embed, and further refinement of processes and workflows has been required. Leaders and colleagues had to learn and adjust in real time, rather than receiving full development time beforehand.
The growth in subscriber numbers has also increased demand for printed materials, leading to higher postage and distribution costs, which remain an area requiring close monitoring.
## **Learning**
Despite these challenges, the implementation period has resulted in clear improvements across the ministry. Behavioural, cultural, and skills growth is evident, with colleagues demonstrating increased competence and confidence in managing complex operational environments. As teams see the positive impact of their work on readers, staff, and the wider ministry, confidence and collaboration continue to strengthen.
## **Content: Challenge**
Alongside the success of our digital‑first initiatives, there is clear evidence that many subscribers still prefer printed materials. This creates a practical and financial challenge, as postage remains one of our largest operational costs. Current distribution options offer limited savings, with our volumes either too high or too low for alternative providers, leaving us largely dependent on Royal Mail for the majority of our mailing activity.
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## **Learning**
The continued demand for printed resources reinforces the importance of offering a blended approach to Bible engagement. It also highlights the need for deeper insight into our distribution processes. Projects are now underway to explore internal and external options to manage postage more efficiently, and the findings will shape a key part of our 2026 operational plan.
## **People: Challenge**
The period of transition and change has been intense for our teams. Despite the pressure, colleagues consistently rose to the challenge and demonstrated strong commitment to the ministry. We also recognise that several team members hold significant historical knowledge of the ministry, while a number are approaching retirement, creating a future risk of losing organisational memory.
## **Learning**
Teams have shown greater resilience than they initially believed, adapting well to the demands of a complex and fast‑moving environment. We are now intentionally translating long‑standing knowledge into documented processes, procedures, and plans, and beginning to consider succession planning and future team structure. This work will continue into 2026 to ensure we capture critical knowledge and maintain continuity across the ministry.
## **Case Studies / Beneficiary Stories**
- **From the telephone** : A lady called and amongst her general praise for our content, shared that she had first received ODB from someone as a wedding present, of which, at the time, she didn't think much. All these years later having found such benefit in our devotionals, she realises how much more meaningful this was/proved to be than the other gifts. They apparently received an inordinate number of toast racks...
- **Written encouragement:** You are an incredible ministry - I really mean that. We deal with ICU rehabilitation patients who are often missing church in hospital and your resources are so very helpful. Staff or family are reading to those more seriously ill.
- **Written encouragement** : A reader who noted that they always ‘enjoy and am challenged by Our Daily Bread’ and that during trips to Uganda ‘My daily bread goes with me’.
- **Evening Meditation Feedback** : I listen to Evening Meditations and want to thank you for them. I find them so helpful and it is so lovely just to relax and draw closer to the Lord. I have told others about this programme and know it would encourage and help them too. I pray the Lord bless you all in your various service for Him.
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- **Evening Meditation Feedback** : I have been a bad sleeper for 30 years, I have just discovered the evening meditations. They are an amazing enriching help to me each night. My mum is currently in emergency cardiology at the hospital. Without these I don't know how I would manage to sleep and rest.
- **Face to face:** A young boy at an event asked for bags so that he, supported by his mother, could share resources with others having been inspired by the impact of ODBM materials.
## **6. Financial Review**
Total incoming resources for the year to 31 December 2025 were £2,647,392 compared to £2,792,327 for the previous year. Total resources expended for the year were £2,468,846 compared to £2,620,082 for the previous year.
Consequently net income in the year to 31 December 2025 was compared to the previous year
net expenditure.
The net assets of the charity were £1,382,290 at 31 December 2025 compared to £1,785,354 at 31 December 2024.
The principal risks and uncertainties which the charity faces are that the charity relies heavily on donations to continue its operations. The current inflation levels and rising cost of living in the UK is expected to reduce disposable income and is likely to reduce the level of donations which the charity receives. Plans are being developed to encourage recurring gifts to allow for greater stability.
## **7. Reserves Policy**
Our Daily Bread Ministries Trust has in place a reserves policy which currently serves four primary purposes:
1. To allow for financial cycles. Our ministry income and expenses are cyclical, and there is a need to accumulate funds throughout the year during high levels of giving in order to cover expenses incurred during low levels of giving.
2. To seize opportunities. We are a regional office for Our Daily Bread Europe and it is prudent to hold some reserve funds to take advantages of opportunities that may present themselves during the fiscal year for which there was no budget allocated. Often needs arise during times of crisis that would call for the use of funds not previously budgeted.
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3. To keep on hand a minimum of three to six months operating expenses which would allow us to continue to operate the ministry during that period even in the event of a total loss of income.
4. To build up sufficient reserves to be able to fund any facilities development. The trustees' target level of free reserves is £850,000. At 31 December 2025 the actual level of free reserves was £1,380,290 (2024 - £1,173,744). The trustees will take steps during future periods to maintain free reserves at an amount similar to the target level.
## **8. Principal Risks and Uncertainties**
The trustees operate a structured risk management process overseen by the Head of Governance. Operational risks are monitored through the Operations Hub and Operations Leaders meetings, while strategic risks receive oversight through a standing governance item at each Board meeting.
Risks are assessed using a scoring matrix, with mitigation measures documented and supported by appropriate policies and operating procedures. The risk register is stored in a centrally accessible location and reviewed regularly to ensure it remains current and effective.
During 2025, the trustees reviewed several major risks, summarised below along with key mitigation actions.
Key topics in 2025 included:
**----- Start of picture text -----**
Risk Mitigation
Operational
Staff transitions and HR partner support.
restructure Robust controls.
Policy
System Changes Training
Policy
Financial
Reliance on Process improvement plans
donations
Legacies in form of Contingency planning
property
Compliance
GDPR Policy and training
Gift Aid Policy and training
Windsor Agreement Policy and Training
Strategic risks
Technology Robust controls
implementation Policy and training
**----- End of picture text -----**
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## **Summary:**
The trustees are satisfied that appropriate systems, controls, and oversight structures are in place to manage the principal risks faced by the charity. Strengthened governance, the introduction of new technology, and improved organisational capability have increased the charity’s resilience and reduced overall risk exposure.
## **9. Future Plans**
Over the next two years, the charity will continue to align closely with global ministry goals, ensuring we benefit from the shared human and physical resources available across the organisation. Our region is already recognised as an innovation hub, trusted to pilot new ways of working and to provide learning for the wider ministry.
Our strategic focus for the coming year will be on **scalability and sustainability** , ensuring that our systems, structures, and people can support long‑term ministry growth. To equip us to fulfil our purpose, we have established four strategic goals to guide our work through to 2028.
These plans support every area of our ministry:
- 1) **Make Best Use of our Resources:** In the coming year, we will focus on ensuring continuous improvement of our operational functions and stewarding income and expenditure wisely, so that we continue to fulfil our purpose of advancing Christian understanding through accessible materials. To support this, we will:
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- Continue to build continuous improvement activity as business as usual through the Operations Hub that was introduced in 2025.
- the wider ministry narrative.
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- Invest in people through an increased training budget to support their professional growth in areas such as critical thinking, project management and leadership.
- Explore postal options to reduce costs within the ministry.
- Apply an intentional strategy to encourage regular givers to consider committing to recurring gifts.
- Critically analyse the structure within the region and global ministry.
"Whoever can be trusted with very little can also be trusted with much, and whoever is dishonest with very little will also be dishonest with much. "Luke 16:10:
- 2) **Nurturing reciprocal partnerships:** In the coming year, we will continue to strengthen our support for communities by developing meaningful, reciprocal partnerships with organisations and charities whose work aligns with our mission. These relationships are helping us reach people who would not normally engage with our materials, yet who are increasingly accessing them for personal and spiritual growth. This demonstrates clear alignment with our charitable purpose of supporting Spiritual Exploration and Personal Growth.
To support this, we will:
- Identify and prioritise partnership opportunities with organisations serving communities currently under‑represented in our readership;
- Collaborate with partner organisations to provide contextualised, accessible biblical resources;
- Develop simple frameworks for assessing partnership impact, including reach, engagement, and feedback;
- Strengthen our presence at community events, conferences, and gatherings where partnership opportunities can grow and it’s cost effective to do so;
- Expand local and regional networks to build long‑term, mutually beneficial relationships;
- Work with churches, charities, and community groups to pilot new ways of introducing our content to diverse audiences;
- Gather stories and feedback from partners to inform future development and strengthen accountability.
" Each of you should use whatever gift you have received to serve others, as faithful stewards of God’s grace in its various forms"1 Peter 4:10:
- 3) **Champion our content and story:** This strategic goal aligns closely with our charitable purpose and public benefit by promoting wellbeing through faith‑centred resources. In the coming year, our activity will focus on strengthening our offering to the church and
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community through active engagement with our own materials and by encouraging one another in faith, as we are called to do. To support this, we will:
- Deepen staff and volunteer engagement with our resources to ensure they are well‑equipped to share our materials confidently and appropriately;
- Increase visibility of our content within churches, communities, and partner organisations through intentional outreach;
- Develop simple tools and guidance to help churches and small groups make fuller use of our resources;
- Gather and share stories that demonstrate the impact of our materials on personal and spiritual growth;
- Strengthen our communication channels so that the ministry narrative remains clear, hopeful, and centred on the life‑changing wisdom of the Bible;
- Encourage a culture of mutual support within our community, promoting encouragement, discipleship, and shared testimony.
"Therefore encourage one another and build each other up, just as in fact you are doing" (NIV).1 Thessalonians 5:11:
- 4) **Increase accessibility of content** : Our longer‑term vision is to extend our reach and relationships across Europe and beyond. By sharing the hope of the Gospel of the Lord Jesus Christ, we will continue to fulfil our charitable purpose and public benefit by helping people in their personal and spiritual growth and supporting them to engage with Christian content in ways that are accessible, meaningful, and clear. To support this, we will:
- Continue to develop and refine digital‑first resources that make Scripture understandable and accessible for diverse audiences;
- Expand language and localisation options where possible, ensuring people can engage with biblical content in formats that meet their needs;
- Strengthen user pathways that guide readers and listeners into deeper engagement with the Bible;
- Build on our successful audio, print, and large‑print offerings to ensure accessibility for individuals with different preferences and abilities;
- Increase collaboration across the global ministry to share learning, tools, and content that can extend our reach across national and cultural boundaries;
- Engage churches, partners, and communities in identifying gaps in accessibility and shaping resources that meet those needs;
- Invest in storytelling and communication that highlights the impact of accessible Christian content on wellbeing, discipleship, and personal transformation.
- "Praise the LORD, all you- nations; extol him, all you peoples Psalm 117:1 (NIV)
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## **10. Statement of Trustees’ Responsibilities**
accordance with applicable law and UK Accounting Standards.
including Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".
The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports)
statements for each financial year which give a true and fair view of the state of a�airs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period.
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charity SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
- presume that the charity will continue in business.
## **11. Approval of the Trustees’ Report**
Approved by the trustees on ……………………….. and signed on their behalf by:
Signature: ………………………………………………………. **Mr S Apted, Chair**
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**Draft Financial Statements at 27 March 2026 at 12:05:57 OUR DAILY BREAD MINISTRIES TRUST**
## **INDEPENDENT AUDITOR'S REPORT**
## **TO THE TRUSTEES OF OUR DAILY BREAD MINISTRIES TRUST**
## **Opinion**
We have audited the financial statements of Our Daily Bread Ministries Trust (the ‘charity’) for the year ended 31 December 2025 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 _The Financial Reporting Standard applicable in the UK and Republic of Ireland_ (United Kingdom Generally Accepted Accounting Practice).
In our opinion, the financial statements:
- give a true and fair view of the state of the charity’s affairs as at 31 December 2025 and of its incoming resources and application of resources, for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the Charities Act 2011.
## **Basis for opinion**
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the _Auditor's responsibilities for the audit of the financial statements_ section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
## **Conclusions relating to going concern**
In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
## **Other information**
The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
## **Matters on which we are required to report by exception**
We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:
- the information given in the financial statements is inconsistent in any material respect with the trustees' report; or
- sufficient accounting records have not been kept; or
- the financial statements are not in agreement with the accounting records; or
- we have not received all the information and explanations we require for our audit.
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**Draft Financial Statements at 27 March 2026 at 12:05:57 OUR DAILY BREAD MINISTRIES TRUST**
## **INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF OUR DAILY BREAD MINISTRIES TRUST**
## **Responsibilities of trustees**
As explained more fully in the statement of trustees' responsibilities, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to cease operations, or have no realistic alternative but to do so.
## **Auditor's responsibilities for the audit of the financial statements**
We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
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**Draft Financial Statements at 27 March 2026 at 12:05:57 OUR DAILY BREAD MINISTRIES TRUST**
## **INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF OUR DAILY BREAD MINISTRIES TRUST**
- Enquiry of management and those charged with governance around actual and potential litigation and claims;
- Reviewing minutes of meetings of those charged with governance;
- Performing audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias;
- Enquiry of management and those charged with governance to identify any instances of non-compliance with laws and regulations.
The potential effect of these laws and regulations on the financial statements varies considerably.
Firstly, the Charity is subject to laws and regulations that directly affect the financial statements including financial reporting legislation, charity legislation and taxation legislation and we assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items.
Secondly, the Charity is subject to many other laws and regulations where the consequence of non-compliance could have a material effect on amounts or disclosures in the financial statements, for instance the imposition of fines or litigation or the loss of the Charity’s license to operate. We identified the following areas as those most likely to have such an effect: health and safety including data protection laws, anti-bribery, money laundering and employment law compliance recognising the nature of the Charity’s activities. Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the trustees and other management and inspection of regulatory and legal correspondence, if any. Therefore, if a breach of operational regulations is not disclosed to us or evident from relevant correspondence, an audit will not detect that breach.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
## **Other matters**
Your attention is drawn to the fact that the charity has prepared financial statements in accordance with "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)" (as amended) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.
This has been done in order for the financial statements to provide a true and fair view in accordance with current Generally Accepted Accounting Practice.
## **Use of our report**
This report is made solely to the charity’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity’s trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.
- 20 -
**Draft Financial Statements at 27 March 2026 at 12:05:57 OUR DAILY BREAD MINISTRIES TRUST**
## **INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF OUR DAILY BREAD MINISTRIES TRUST**
Xeinadin Audit Limited Chartered Accountants and Statutory Auditors Dalton House 9 Dalton Square Lancaster Lancashire LA1 1WD United Kingdom Date: .........................
Xeinadin Audit Limited is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.
- 21 -
**Draft Financial Statements at 27 March 2026 at 12:05:57 OUR DAILY BREAD MINISTRIES TRUST**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## _**FOR THE YEAR ENDED 31 DECEMBER 2025**_
|**Current financial year**
**Unrestricted**
**Restricted**
**funds**
**funds**
**2025**
**2025**
**Notes**
**£**
**£**
**Income and endowments from:**
Donations and legacies
**3**
2,199,534
-
Charitable activities
**4**
151,972
-
Investments
**5**
8,940
-
Other income
**6**
286,946
-
**Total income**
2,647,392
-
**Expenditure on:**
Charitable activities
**7**
2,468,816
30
**Total expenditure**
2,468,816
30
**Net income/(expenditure) and movement in funds**
178,576
(30)
**Reconciliation of funds:**
Fund balances at 1 January 2025
1,783,324
2,030
**Fund balances at 31 December 2025**
1,961,900
2,000|**Total**
**2025**
**£**
2,199,534
151,972
8,940
286,946
2,647,392
2,468,846
2,468,846
178,546
1,785,354
1,963,900|**Total**
**2024**
**£**
2,123,843
258,939
10,972
398,573|
|---|---|---|
|||2,792,327
2,620,082|
|||2,620,082|
|||172,245
1,613,109|
|||1,785,354|
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
- 22 -
**Draft Financial Statements at 27 March 2026 at 12:05:57 OUR DAILY BREAD MINISTRIES TRUST**
## **STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## _**FOR THE YEAR ENDED 31 DECEMBER 2025**_
|**Prior financial year**
**Unrestricted**
**Restricted**
**funds**
**funds**
**2024**
**2024**
**Notes**
**£**
**£**
**Income and endowments from:**
Donations and legacies
**3**
2,121,043
2,800
Charitable activities
**4**
258,939
-
Investments
**5**
10,972
-
Other income
**6**
398,573
-
**Total income**
2,789,527
2,800
**Expenditure on:**
Charitable activities
**7**
2,606,484
13,598
**Total expenditure**
2,606,484
13,598
**Net income/(expenditure) and movement in funds**
183,043
(10,798)
**Reconciliation of funds:**
Fund balances at 1 January 2024
1,600,281
12,828
**Fund balances at 31 December 2024**
1,783,324
2,030|**Total**
**2024**
**£**
2,123,843
258,939
10,972
398,573|
|---|---|
||2,792,327
2,620,082|
||2,620,082|
||172,245
1,613,109|
||1,785,354|
- 23 -
**Draft Financial Statements at 27 March 2026 at 12:05:57 OUR DAILY BREAD MINISTRIES TRUST**
## **BALANCE SHEET**
## _**AS AT 31 DECEMBER 2025**_
|**Notes**
**Fixed assets**
Tangible assets
**13**
**Current assets**
Stocks
**14**
Debtors
**15**
Cash at bank and in hand
**Creditors: amounts falling due within**
**one year**
Taxation and social security
Other creditors
**16**
**Net current assets**
**Total assets less current liabilities**
**The funds of the charity**
Restricted income funds
**18**
Unrestricted funds
**19**|**2025**
**£**
**£**
581,610
38,996
469,810
986,446
1,495,252
33,518
79,444
112,962
1,382,290
1,963,900
2,000
1,961,900
1,963,900|**2024**
**£**
**£**
609,579
57,204
509,585
756,798
1,323,587
33,400
114,412
147,812
1,175,775
1,785,354
2,030
1,783,324
1,785,354|**2024**
**£**
**£**
609,579
57,204
509,585
756,798
1,323,587
33,400
114,412
147,812
1,175,775
1,785,354
2,030
1,783,324
1,785,354|
|---|---|---|---|
||||1,785,354|
||||2,030
1,783,324|
||||1,785,354|
The financial statements were approved by the trustees on .........................
.............................. Mr S Apted **Trustee**
- 24 -
**Draft Financial Statements at 27 March 2026 at 12:05:57 OUR DAILY BREAD MINISTRIES TRUST**
## **STATEMENT OF CASH FLOWS** _**FOR THE YEAR ENDED 31 DECEMBER 2025**_
|**Notes**
**Cash flows from operating activities**
Cash generated from/(absorbed by)
operations
**22**
**Investing activities**
Purchase of tangible fixed assets
Investment income received
**Net cash used in investing activities**
**Net cash generated from financing activities**
**Net increase/(decrease) in cash and cash**
**equivalents**
Cash and cash equivalents at beginning of year
**Cash and cash equivalents at end of year**|**2025**
**£**
(16,925)
8,940|**£**
237,633
(7,985)
-
229,648
756,798
986,446|**2024**
**£**
**£**
(169,748)
(40,422)
10,972
(29,450)
-
(199,198)
955,996
756,798|
|---|---|---|---|
- 25 -
**Draft Financial Statements at 27 March 2026 at 12:05:57 OUR DAILY BREAD MINISTRIES TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 DECEMBER 2025**_
## **1 Accounting policies**
## **1.1 Basis of preparation**
The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)". The charity is a Public Benefit Entity as defined by FRS 102.
The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
## **1.2 Going concern**
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
## **1.3 Charitable funds**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
## **1.4 Income**
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
- 26 -
**Draft Financial Statements at 27 March 2026 at 12:05:57 OUR DAILY BREAD MINISTRIES TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2025**_
## **1 Accounting policies**
**(Continued)**
## **1.5 Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
## **1.6 Tangible fixed assets**
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Leasehold land and buildings 2% - 5% Straight line Fixtures and fittings at varying rates on cost
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
## **1.7 Impairment of fixed assets**
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
## **1.8 Stocks**
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.
Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.
## **1.9 Cash and cash equivalents**
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
- 27 -
**Draft Financial Statements at 27 March 2026 at 12:05:57 OUR DAILY BREAD MINISTRIES TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2025**_
## **1 Accounting policies**
## **(Continued)**
## **1.10 Financial instruments**
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
## _**Basic financial assets**_
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
## _**Basic financial liabilities**_
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
## _**Derecognition of financial liabilities**_
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
## **1.11 Employee benefits**
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
## **1.12 Retirement benefits**
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
## **1.13 Foreign exchange**
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
- 28 -
**Draft Financial Statements at 27 March 2026 at 12:05:57 OUR DAILY BREAD MINISTRIES TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2025**_
## **2 Critical accounting estimates and judgements**
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
## **3 Income from donations and legacies**
|**Unrestricted**
**Restricted**
**funds**
**funds**
**2025**
**2025**
**£**
**£**
Donations and gifts
1,889,789
-
Legacies
309,745
-
2,199,534
-|**Total**
**Unrestricted**
**Restricted**
**funds**
**funds**
**2025**
**2024**
**2024**
**£**
**£**
**£**
1,889,789
1,583,900
2,800
309,745
537,143
-
2,199,534
2,121,043
2,800|**Total**
**2024**
**£**
1,586,700
537,143|
|---|---|---|
|||2,123,843|
## **4 Income from charitable activities**
||**Unrestricted**|**Unrestricted**|
|---|---|---|
||**funds**|**funds**|
||**2025**|**2024**|
||**£**|**£**|
|**Christian literature**|||
|Christian literature|151,972|258,939|
|**Income from investments**|||
||**Unrestricted**|**Unrestricted**|
||**funds**|**funds**|
||**2025**|**2024**|
||**£**|**£**|
|Interest receivable|8,940|10,972|
## **5 Income from investments**
- 29 -
**Draft Financial Statements at 27 March 2026 at 12:05:57 OUR DAILY BREAD MINISTRIES TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2025**_
## **6 Other income**
||**Unrestricted**|**Unrestricted**|
|---|---|---|
||**funds**|**funds**|
||**2025**|**2024**|
||**£**|**£**|
|Income from Our Daily Bread Ministries (USA)|195,483|310,546|
|Information systems staff support|91,463|88,027|
||286,946|398,573|
- 30 -
||**Total**||**2024**|**£**||945,391|627,185|108,248|389,024|24,560|287,502|615|7,386|2,389,911|||218,674|11,497|2,620,082|||2,606,484|13,598|2,620,082|
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
||**Biblical**|**literature**|**2024**|**£**||646,623|501,043|98,330|355,094|24,560|15,241|420|4,931|1,646,242|||188,011|8,490|1,842,743|||1,829,145|13,598|1,842,743|
||**Christitian**
**International**|**literature**|**2024**
**2024**|**£**
**£**||162,106
136,662|126,142
-|9,918
-|33,930
-|-
-|-
272,261|106
89|1,332
1,123|333,534
410,135|||26,831
3,832|1,631
1,376|361,996
415,343|||361,996
415,343|-
-|361,996
415,343|
||**Total**||**2025**|**£**||1,014,324|519,629|53,784|425,133|20,120|160,956|1,813|6,381|2,202,140|||256,402|10,304|2,468,846|||2,468,816|30|2,468,846|
||**Biblical**|**literature**|**2025**|**£**||709,374|458,263|53,784|416,679|20,120|33,720|1,268|4,463|1,697,671|||242,440|7,205|1,947,316|||1,947,316|-|1,947,316|
||**Christitian**
**International**|**literature**|**2025**
**2025**|**£**
**£**||172,206
132,744|61,366
-|-
-|8,454
-|-
-|-
127,236|308
237|1,083
835|243,417
261,052|||13,962
-|1,751
1,348|259,130
262,400|||259,100
262,400|30
-|259,130
262,400|
|**Expenditure on charitable activities**|||||**Direct costs**|Staff costs|Purchase of literature|Bible conferences and advertising|Freight and carriage|Subcontracted mailing services|Ministry expenses|Private health insurance|Staff training||**Share of support and governance costs (see note 8)**||Support|Governance|||**Analysis by fund**|Unrestricted funds|Restricted funds||
|**7**|||||||||||||||||||||||||
**Draft Financial Statements at 27 March 2026 at 12:05:57 OUR DAILY BREAD MINISTRIES TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2025**_
|**8**
**Support costs allocated to activities**
Depreciation
Bank charges
Rates and water
Insurance
Light and heat
Telephone
Stationery and photocopying
Sundries
Maintenance
Foreign currency (gains)/losses
Travel and subsistence
Governance costs
**Analysed between:**
Christitian literature
International
Biblical literature
**9**
**Net movement in funds**
The net movement in funds is stated after charging/(crediting):
Fees payable for the audit of the charity's financial statements
Depreciation of owned tangible fixed assets|**2025**
**£**
44,894
21,967
11,903
9,650
10,780
7,927
13,992
34,286
41,905
6,014
53,084
10,304
266,706
15,713
1,348
249,645
266,706
**2025**
**£**
5,426
44,894|**2024**
**£**
42,836
17,706
10,300
9,064
15,688
8,990
7,266
22,353
42,756
3,531
38,184
11,497|
|---|---|---|
|||230,171|
|||28,462
5,208
196,501|
|||230,171|
|||**2024**
**£**
4,882
42,836|
## **10 Trustees**
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
## **11 Employees**
The average monthly number of employees during the year was:
|**2025**|**2024**|
|---|---|
|**Number**|**Number**|
|26|25|
- 32 -
**Draft Financial Statements at 27 March 2026 at 12:05:57 OUR DAILY BREAD MINISTRIES TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2025**_
|**11**
**Employees**
**Employment costs**
Wages and salaries
Social security costs
Other pension costs
The number of employees whose annual remuneration was more than £60,000
is as follows:
£60,001 to £70,000
£70,000 to £80,000
**Remuneration of key management personnel**
The remuneration of key management personnel was as follows:
Aggregate compensation
**12**
**Taxation**|**(Continued)**
**2025**
**2024**
**£**
**£**
895,436
840,866
82,615
70,714
36,273
33,811
1,014,324
945,391
**2025**
**2024**
**Number**
**Number**
1
-
1
1
**2025**
**2024**
**£**
**£**
144,313
145,740|**(Continued)**
**2025**
**2024**
**£**
**£**
895,436
840,866
82,615
70,714
36,273
33,811
1,014,324
945,391
**2025**
**2024**
**Number**
**Number**
1
-
1
1
**2025**
**2024**
**£**
**£**
144,313
145,740|
|---|---|---|
|||945,391|
|||**2024**
**Number**
-
1|
|||**2024**
**£**
145,740|
||||
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
- 33 -
**Draft Financial Statements at 27 March 2026 at 12:05:57 OUR DAILY BREAD MINISTRIES TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2025**_
|**13**
**Tangible fixed assets**
**Cost**
At 1 January 2025
Additions
At 31 December 2025
**Depreciation and impairment**
At 1 January 2025
Depreciation charged in the year
At 31 December 2025
**Carrying amount**
At 31 December 2025
At 31 December 2024
**14**
**Stocks**
Raw materials and consumables
**15**
**Debtors**
**Amounts falling due within one year:**
Trade debtors
Other debtors
Prepayments and accrued income
**16**
**Other creditors falling due within one year**
Trade creditors
Other creditors
Accruals and deferred income|**Leasehold**
**land and**
**buildings**
**£**
808,297
-
808,297
253,259
24,266
277,525
530,772
555,038|**Fixtures and**
**fittings**
**£**
313,718
16,924
330,642
259,176
20,628
279,804
50,838
54,541
**2025**
**£**
38,996
**2025**
**£**
272
418,421
51,117
469,810
**2025**
**£**
37,907
20,344
21,193
79,444|**Total**
**£**
1,122,015
16,924|
|---|---|---|---|
||||1,138,939|
||||512,435
44,894|
||||557,329|
||||581,610|
||||609,579|
||||**2024**
**£**
57,204|
||||**2024**
**£**
1,857
457,522
50,206|
||||509,585|
||||**2024**
**£**
68,906
18,073
27,433|
||||114,412|
- 34 -
**Draft Financial Statements at 27 March 2026 at 12:05:57 OUR DAILY BREAD MINISTRIES TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2025**_
|**17**|**Retirement benefit schemes**|||
|---|---|---|---|
|||**2025**|**2024**|
||**Defined contribution schemes**|**£**|**£**|
||Charge to profit or loss in respect of defined contribution schemes|36,273|33,811|
The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.
## **18 Restricted funds**
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.
|**At**
Sri Lanka
India
**Previous year:**
**At**|**1 January**
**2025**
**Incoming**
**resources**
**Resources**
**expended**
**At 31**
**December**
**2025**
**£**
**£**
**£**
**£**
2,000
-
-
2,000
30
-
(30)
-
2,030
-
(30)
2,000
**1 January**
**2024**
**Incoming**
**resources**
**Resources**
**expended**
**At 31**
**December**
**2024**
**£**
**£**
**£**
**£**
12,828
2,800
(13,598)
2,030|
|---|---|
## **19 Unrestricted funds**
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
|**At**
General funds
**Previous year:**
**At**
General funds|**1 January**
**2025**
**Incoming**
**resources**
**Resources**
**expended**
**At 31**
**December**
**2025**
**£**
**£**
**£**
**£**
1,783,324
2,647,392
(2,468,816)
1,961,900
**1 January**
**2024**
**Incoming**
**resources**
**Resources**
**expended**
**At 31**
**December**
**2024**
**£**
**£**
**£**
**£**
1,600,281
2,789,527
(2,606,484)
1,783,324|
|---|---|
- 35 -
**Draft Financial Statements at 27 March 2026 at 12:05:57 OUR DAILY BREAD MINISTRIES TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2025**_
## **20 Analysis of net assets between funds**
|**Unrestricted**
**Restricted**
**funds**
**funds**
**2025**
**2025**
**£**
**£**
**At 31 December 2025:**
Tangible assets
581,610
-
Current assets/(liabilities)
1,380,290
2,000
1,961,900
2,000
**Unrestricted**
**Restricted**
**funds**
**funds**
**2024**
**2024**
**£**
**£**
**At 31 December 2024:**
Tangible assets
609,579
-
Current assets/(liabilities)
1,173,745
2,030
1,783,324
2,030|**Total**
**2025**
**£**
581,610
1,382,290|
|---|---|
||1,963,900|
||**Total**
**2024**
**£**
609,579
1,175,775|
||1,785,354|
## **21 Related party transactions**
## **Transactions with related parties**
During the year the charity entered into the following transactions with related parties:
During the year the charity provided goods and services of £11,300 (2024: £3,898) to Our Daily Bread Ministries Ireland, an organisation based in Ireland, of which Mr S Mitchell is a trustee while also a member of the key management personnel of the charity.
During the year the charity provided funds of £2,806 (2024: £65,229) to Our Daily Bread E.V, an organisation based in Germany whose board members include key management of the UK charity. Last year the charity also provided goods and services to Our Daily Bread E.V, for the sum of £776 (2024: £nil).
- 36 -
**Draft Financial Statements at 27 March 2026 at 12:05:57 OUR DAILY BREAD MINISTRIES TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2025**_
|**22**
**Cash generated from/(absorbed by) operations**
Surplus for the year
**Adjustments for:**
Investment income recognised in statement of financial activities
Depreciation and impairment of tangible fixed assets
**Movements in working capital:**
Decrease in stocks
Decrease/(increase) in debtors
(Decrease)/increase in creditors
**Cash generated from/(absorbed by) operations**
**23**
**Analysis of changes in net funds**|**2025**
**2024**
**£**
**£**
178,546
172,245
(8,940)
(10,972)
44,894
42,836
18,208
10,066
39,775
(396,188)
(34,850)
12,265
237,633
(169,748)|
|---|---|
The charity had no material debt during the year.
- 37 -