OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2025-08-31-accounts

Charity registration number 102463 (England and Wales) Company registration number NI065788

EXODUS TRUST

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2025

EXODUS TRUST

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Dr Christopher Agnew Mr Andrew Lynas Mrs Lynda Lynas Mr Peter Lynas Mrs Gillian Maxwell Rev Stephen Richmond Mrs Anne Witherow Secretary Mr S Brown Charity number (England and Wales) 102463 Company number NI065788 Registered office 29 Railway Street Lisburn Co Antrim BT28 1XP Auditor GMcG PORTADOWN 17 Mandeville Street Portadown Craigavon Co Armagh BT62 3PB Bankers Bank of Ireland 2 The Diamond Coleraine BT52 1DE Solicitors McFarland Graham McCombe 41-43 Bachelors Walk Lisburn Co Antrim BT28 1XN

EXODUS TRUST

CONTENTS

Page
Trustees' report 1 - 9
Independent auditor's report 10 - 15
Statement of financial activities 16
Balance sheet 17
Statement of cash flows 18
Notes to the financial statements 19 - 36

EXODUS TRUST

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 AUGUST 2025

The trustees present their annual report and financial statements for the year ended 31 August 2025.

The financial statements have been prepared in accordance with the accounting policies set out in the notes to the financial statements and comply with the charity’s Memorandum and Articles of Association, the Charities Act (Northern Ireland) 2008, Charities Act (Northern Ireland) 2013, The Charities (Accounts and Reports) Regulations (Northern Ireland) 2015, Companies Act 2006 and 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 SORP 2019 (FRS 102).

Objectives and activities

The principal activity of the charity is to advance the Christian religion and promote the benefit of young people primarily but not exclusively in Ireland. We are a charity that educates and assists such young people, irrespective of their religious beliefs, through their leisure-time activities so as to develop their physical, mental and spiritual capacities so that they may grow to full maturity as individuals and members of society. In particular, we:

We also provide development aid and support to local communities, primarily but not exclusively in developing countries, for the furtherance of the relief of poverty, the advancement of education and other purposes beneficial to these local communities.

Exodus was established in Portstewart, Northern Ireland in 1997 and our vision is to see generations of young people boldly following Jesus and becoming lifelong disciple makers.

Our staff currently work alongside young people, disciple makers, churches and communities in Ireland (North and South), Hungary and Romania. We see our role as raising up young people who will live out a bold and active Christian faith where they live and through over 25 years of disciple making, we have journeyed with over 15,000 young people and leaders.

We offer five primary opportunities full of depth, fun and adventure:

Teams

Unforgettable small group adventures combining discovery, friendship and mission.

Disciples, mentoring and residentials

Fun, intentional and creative opportunities which build community and create discipling moments.

Schools ministry

To help pupils grow, develop and build connections.

Drop ins, pop ups and events

Fun, community building activities for new and regular young people.

Legacy

Programmes for churches to help faith and fatherhood thrive.

EXODUS TRUST

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

Public benefit

The Board of Exodus Trust confirm that they have had due regard for the guidance produced on public benefit by the Charity Commission for Northern Ireland and are pleased to report that during the year the charitable company has continued to provide public benefits through the programmes and services we offer. In particular, the directors consider how planned activities will contribute to the aims and objectives they have set out.

Public benefits

The trustees believe that both our purposes satisfy both elements of the public benefit requirement.

Purpose 1:

The direct benefits which flow from this purpose include:

These benefits are demonstrated through stories recorded from participants and partner organisations, feedback from volunteers, quarterly updates and the annual report. In providing these benefits, Exodus seeks to share the core tenets of the Christian faith, however, it will not condone any activities which put undue pressure on individuals to take on these beliefs. The beneficiaries of this purpose are young people living in Ireland aged 15-25. There will also be a direct benefit to youth leaders trained in roles, an indirect benefit to the families of young people and a wider benefit to the local communities. A private benefit to staff will arise as they are paid and also trained to carry out the role but this is necessary and incidental and payment is in line with appropriate levels of remuneration. Another potential private benefit is that gained by a staff member or trustee who also has a teenage child who takes part in activities. This individual applies for and is assigned places in the same way as all other beneficiaries. This benefit is incidental and necessary to ensure the benefit is provided to our beneficiaries.

Purpose 2:

The direct benefits which flow from this purpose include:

These benefits are demonstrated through stories recorded from participants and partner organisations, feedback from volunteers, quarterly updates and the annual report. In providing these benefits Exodus seeks to share the core tenets of the Christian faith, however it will not condone any activities which put undue pressure on individuals to take on these beliefs. The beneficiaries of this purpose are individuals and communities primarily but not exclusively in developing countries.

Grant making policy

The charity may provide some financial assistance to organisations that it believes will advance its overall objectives. Primarily this is directed to our sister organisation ‘’Exodus CEE’’ operating in Hungary and Romania.

EXODUS TRUST

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

Volunteers

The charity continues to rely on the work of volunteers who assist in office administrative roles, help at various events throughout the year and lead the teams which meet throughout the year and travel during the summer. We estimate a contribution of at least 50,000 volunteer hours in 2024/25 equivalent to £650,000 at an average hourly rate of £13.00.

EXODUS TRUST

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

Achievements and performance

‘’I entered that building lost and alone. I now leave it found in Christ and with a Christian family!’’ - Exodus disciples participant

Ongoing ministry celebrations

Between 1 September 2024 and 31 August 2025, Exodus staff and volunteers in the UK and Ireland delivered ministry opportunities across our 6 locations: Coleraine, Lisburn, Derry, Belfast, Carrick and Banbridge. Each area has significant cause for celebration. The following are some ‘headlines’ from the life of Exodus in the last 12 months organised under the titles from our vision statement, ‘Reach’, ‘Disciple’ and ‘Partner’.

Reach

Disciple

Partner

Development celebrations

August 2025 saw the end of our 3 year development goals (set out in March 2022) - Achievements from this include:

EXODUS TRUST

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

Financial review

The detailed financial results for the year ended 31 August 2025 are shown on page 16 of the financial statements. The net expenditure for the year amounted to £24,865 (2024: net income of £156,877). At 31 August 2025, the funds of the charity amounted to £707,984 (2024: £732,849) comprising unrestricted income funds of £625,509 (2024: £603,134) unrestricted designated funds of £27,992 (2024:£28,883) and restricted funds of £24,483 (2024: £100,832). At 31 August 2025, fixed assets included within unrestricted funds are £201,543 (2024: £218,396) and within restricted funds are £12,626 (2024: £13,739). At 31 August 2025, free reserves being total funds after deducting restricted funds, designated funds and fixed assets are £453,966 (2024: £384,738).

Principal sources of income

Our principal sources of income came from:

Expenditure

Our primary areas of expenditure are linked to:

EXODUS TRUST

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

Going concern

The charity’s reserves should provide the organisation with adequate financial stability and the means for it to meet its charitable objectives for the foreseeable future.

The trustees intend to maintain the charity’s reserves at a level which is at least equivalent to three months' operational expenditure plus £70,000 for advance purchase of flights and insurance at the start of each financial year and have done with regard to its manner of operation of likely funding streams.

The board will review the reserves to ensure that they are adequate to fulfil the charity’s continuing obligations on an annual basis.

This figure for three months' operations equates to £168,690. The additional figure towards the insurance and flights budget is £70,000, bringing the total reserves figure to £238,690. Making allowance for restricted funds, the trustees are able to report cash of £460,899 at the end of 31 August 2025.

Comment on current financial picture

Last year we projected a deficit of (£37,695) whereas the actual loss was (£63,040); however over £100k of income was simply delayed beyond the year end.

The main variations in income and expenditure are described below:

Variations from income projected

Variations from expenditure projected

We are projecting a deficit of £473 (before capital expenditure) for 2025/2026.

Capital investment “Foundations of the Future” - Use of reserves to build health for the long term

With our reserves at a healthy level, we are intending to invest an additional £186.3k in several capital projects that will build sustainability and strength to the organisation going forward. These projects are grouped under the title Foundations for the Future and include necessary repairs and updates to our Lisburn Building, new sites for youth outreach in Derry and Magherafelt and new and improved sites for ministry in Hungary and Romania. Additional to the reserves allocation, additional external donations or grants will be sought to increase the overall budget of these projects.

Factors affecting future financial performance

EXODUS TRUST

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

Major risks

The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks. The trustees maintain a written risk register in order to document and review identified risks. The principal risks continue to be:

Plans for future periods

In the past 3 years Exodus has experienced significant growth in participation and partnership and our experience is of young people who are increasingly hungry for the peace and purpose that only Christ can provide. In the year ahead we hope to:

We also believe that this is a key moment for Exodus and youth ministry and, as we look to the future, our vision is Let’s Get Ready for More!

We are determined to stretch out to new people and places and to strengthen our foundations; carrying Isaiah 54:2 as a picture for what’s ahead.

“Enlarge the place of your tent, stretch your tent curtains wide, do not hold back; lengthen your cords, strengthen your stakes.” Isaiah 54:2.

Stretch out to new people and places by establishing partnerships and opportunities to:

Strengthen our foundations by investing an initial £250k to:

Structure, governance and management

Exodus Trust is a registered charity with the Charity Commission for Northern Ireland and a company limited by guarantee, registered in Northern Ireland. The company was incorporated on 6th August 2007. The company was established under a Memorandum of Association which established the objects and powers of the company and is governed by its Articles of Association. The liability of its members is limited in that every member of the company undertakes to contribute an amount not exceeding £1 in the event of the company being wound up.

EXODUS TRUST

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Dr Christopher Agnew Mr Andrew Lynas Mrs Lynda Lynas Mr Peter Lynas Mrs Gillian Maxwell Rev Stephen Richmond Mrs Karen Welch (Resigned 29 January 2026) Mrs Anne Witherow

Recruitment and appointment of trustees

New trustees are appointed when appropriate. Suitable candidates are considered on the basis of their skills, experience and sympathy with the aims of the charity to ensure that they are competent to fulfil their role. New trustees will be agreed at a board meeting before being invited to join. Training and support for trustees is provided as required.

How the charity makes decisions

The trustees and executive management meet 3 to 4 times a year to set strategy, discuss significant matters and review management accounts for the charity. During these meetings important decisions are made by consensus of the board. Day to day decision making responsibilities are delegated to the charity’s senior management team and its departmental leaders.

Renumeration policy

The Trustees set the pay for key management at a level they believe reflects the nature of the role and the level of responsibility involved. This is reviewed annually in light of current performance, cost of living and budgetary considerations.

Relationship with related parties

The charity requires trustees to complete disclosure of interest forms on appointment and to update these as required in order to identify potential related parties that may require disclosure in the financial statements. This disclosure and a description of those related parties can be found at note 23 to the financial statements.

The Exodus centres in Coleraine and Lisburn are both located in buildings owned by Padly Limited. These buildings have been made available to Exodus by way of a rent-free tenancy. Padly Limited has three trustees each named as a person of significant control. Two of these individuals (Peter Lynas and Andrew Lynas) are also trustees of Exodus.

EXODUS TRUST TRUSTEES. REPORT {INCLUDING DIRECTORS, REPORT) {CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Ststsment of trustees. rèsponslbllltles The trustees (who are also the directors of Exodus Trust) are responsible for preparing the Trustees, Report and the financial statetnents in accordance with applicable law and United Kingdom Accounting Standar(Is (United Kingdom Gener8llyAccepted Accounting Practice). Company law r8quires the directors to prepare financial slalemenls for each financial year, which give a true and fair view of the stste of affairs of the charitable ¢ompany and of the income and expenditure of the charitable company for that period. In preparing these financi81 statements the directors are required to". select suitable accounting policies and Ihen apply them consistently., observe the method5 and prinaples in the Charities SORP 2019 IFRS 102)., make judgements and estirn8tes that are reasonable and prudent., slate whether applicable UK Accounting Standards have been followed, 5ubj8Ct to any m8teTial departures disclosed and explained in the financial statements,. prepare the financial statements on the going concem basis unless it is inappropriate to presume that the charitable company will continLJe operation. The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the finanaal position of the ¢haritable company and enable them to ensure that the fsnancial statements cornply with the Companies Act 2006. The directors are also responsible for safeguarding the assets of the haritable company and hence to take reasonable steps for the prevention and detection of fraud and other irr8gularities. The trustees are responsible for the msintenance and integrity of the corporate and financial infomiation included on the charitable company's website. Legislation in the United Kingdom goveming the pieparation and dissemination of financial statements may differ from legislation in otherjyrisdidions. Auditor GMCG Portadown have indicated Iheir willingness to continue in office and 8 resolution conc8rning their re- appointtnerit will be proposed at the Annual General Meeb'ng. Small companies, exemption Thi5 report has been prepared in accordance wth the speaal provisions relating lo small companies within Part 15 of the Companies Act 2006. Dlselosure of Infomiation to auditor Each of the trustees has oonfirmed that there is no infotmalion of which they are aware which is relevant to the audit, but of which the auditc>r is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant infomi8lion and 10 85tablish that the auditor Is aware of such infomation. The irustees. report was approved by the Bo8rd of Tnjslees. Mrs Lynda Lynas Trustee Date.. 1031.LQ.26

EXODUS TRUST

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF EXODUS TRUST

Opinion

We have audited the financial statements of Exodus Trust (the ‘charity’) for the year ended 31 August 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:

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.

EXODUS TRUST

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF EXODUS TRUST

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, except to the extent otherwise explicitly stated in our report, 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.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

EXODUS TRUST

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF EXODUS TRUST

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the directors' report included within the trustees' report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the statement of trustees' responsibilities, the trustees, who are also the directors of the charity for the purpose of company law, 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 liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

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.

EXODUS TRUST

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF EXODUS TRUST

Extent to which the audit was considered capable of detecting irregularities, including fraud

We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and then design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion.

In identifying and assessing potential risks of material misstatement in respect of irregularities, including fraud and non-compliances with laws and regulations, we considered the following:

As a result of these procedures, we considered the opportunities and incentives that may exist within the charity for fraud and identified the greatest potential for fraud in income recognition. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override.

We also obtained an understanding of the legal and regulatory frameworks that the charity operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the Companies Act 2006, charities legislation applicable to Northern Ireland and local tax legislation.

In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the charity’s ability to operate or to avoid a material penalty, for example, compliance with applicable ATOL regulations.

EXODUS TRUST

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF EXODUS TRUST

Audit response to risks identified

Our procedures to respond to the risks identified included the following:

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. In addition, as with any audit, there remains a higher risk of non-detection of irregularities, as they may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect noncompliance with all laws and regulations.

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.

CHAkTEAÉD AC¢OVNTANTg EXODUS TRUST INDEPENDENT AUDITOR'S REPORT {CONTINUED) TO THE MEMBERS OF EXODUS TRUST Use of our report This report is made solely lo the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations (Northem Ireland) 2015. Our audit work has been undertaken so that we might state to the charity's trustees those mallers we are required lo slate lo them in an auditor's report and for no other purpose. To th& 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. s Gillian Johnston ACA (Senior Statutory Auditor) for and on behalfof GMCG PORTADOWN 5 March 2026 Chartered Accountants statutory Auditor 17 Mandèville Street Portadown Craigavon CoArmagh BT62 3PB 15- CentsryHowe 40 Crc6centBu8iness Park X9Aifred Str￿t BEiJIASTFf2 8EQ DX39ioNRBc]fostso POR'fADOWN IJSBURN BT28 2GN 1.62 3PB Tel.. +44 (0)28 9031 IA13 F￿. +44 (0)28 9031 OTn Tcl: +44 {0)28 9260 735S . +44 (0)28 9260 1656 Tel: +44 (0)28 3833 2801 Fax: +44 (0128 3835 0293 p￿N￿..￿o59060.

EXODUS TRUST

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 AUGUST 2025

Unrestricted
Restricted
funds
funds
2025
2025
Notes
£
£
Income from:
Donations and legacies
3
629,023
57,363
Charitable activities
4
683,480
6,080
Other trading activities
5
79,672
-
Total income
1,392,175
63,443
Expenditure on:
Charitable activities
6
1,340,691
139,792
Other expenditure
13
-
-
Total expenditure
1,340,691
139,792
Net income/(expenditure)
51,484
(76,349)
Transfers between
funds
-
-
Net movement in
funds
9
51,484
(76,349)
Reconciliation of funds:
Fund balances at 1 September
2024
632,017
100,832
Fund balances at 31 August
2025
683,501
24,483		 Total
Unrestricted
Restricted
funds
funds
2025
2024
2024
£
£
£
686,386
570,215
114,915
689,560
603,499
5,125
79,672
66,195
-
1,455,618
1,239,909
120,040
1,480,483
1,135,588
67,464
-
20
-
1,480,483
1,135,608
67,464
(24,865)
104,301
52,576
-
4,208
(4,208)
(24,865)
108,509
48,368
732,849
523,508
52,464
707,984
632,017
100,832		 Total
2024
£
685,130
608,624
66,195
1,359,949
1,203,052
20
1,203,072
156,877
-
156,877
575,972
732,849

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

EXODUS TRUST BALANCE SHEET AS AT 31 AUGUST 2025 2025 2024 Notes Flxed a558ts Tangible assets 15 214,169 232,135 Current a55ets Debtors Cash at bank and in hand 16 58,803 485,381 60,811 504.744 544,184 565.555 Creditors= amounts falling due withln one year 17 150,3691 (64.8411 Nat current assèts 493,815 500.714 Total assets less current liabi14ties 707,984 732,849 The funds of the charity Restrict8d incotlle fund5 Unrestricted funds 20 21 24,483 683,501 1QO,832 632,017 707.984 732,849 The notes on pages 19 to 36 fomi part of these financial statements. 14103].26 The financial statements were approved by the trustees on .k. Mrs Lynda Lynas Trustee Company registration number N1065788 INorthem Ireland) 17-

EXODUS TRUST

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 AUGUST 2025

Notes
Cash flows from operating activities
Cash (absorbed by)/generated from
operations
27
Investing activities
Purchase of tangible fixed assets
Proceeds from disposal of tangible fixed
assets
Net cash used in investing activities
Net cash generated from financing activities
Net (decrease)/increase in cash and cash
equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2025
£
(18,523)
-		 £
(840)
(18,523)
-
(19,363)
504,744
485,381		 2024
£
(22,324)
400		 £
194,365
(21,924)
-
172,441
332,303
504,744

EXODUS TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

1 Accounting policies

Charity information

Exodus Trust is a private company limited by guarantee incorporated in Northern Ireland. The registered office is 29 Railway Street, Lisburn, Co Antrim, BT28 1XP.

1.1 Basis of preparation

The financial statements have been prepared in accordance with the charity's Memorandum and Articles of Association, 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 United Kingdom and Republic of Ireland issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act (Northern Ireland) 2008, Charities Act (Northern Ireland) 2013, the Companies Act 2006 and UK Generally Accepted Practice.

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. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern. 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.

Designated funds comprise funds which have been set aside at the discretion of the trustees for specific purposes. The purposes and uses of the designated funds are set out in the notes to the financial statements.

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.

EXODUS TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

1 Accounting policies (Continued)

For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled. Voluntary income is received by way of grants, donations and gifts and is included in full in the Statement of Financial Activities (SoFA) when receivable. Income received from collections is recognised when received.

Donated facilities and donated professional services are recognised in income at their fair value when their economic benefit is probable, it can be measured reliably and the charity has control over the item. Fair value is determined on the basis of the value of the gift to the charity. For example the amount the charity would be willing to pay in the open market for such facilities and services. A corresponding amount is recognised in expenditure.

Grants and contracts, including capital grants, from the government and other agencies have been included as income from activities in furtherance of the charity’s objects where these amount to a contract for services, but included as donations where the money is given in response to an appeal or with greater freedom of use.

Income is deferred when it relates to a future event and is recognised on completion of the event.

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.

Funding provided through contractual agreements and performance related grants are recognised as goods and services are supplied. Other grant payments are recognised when a constructive obligation arises that results in the payment being unavoidable.

Costs of raising funds includes the costs associated with attracting voluntary income.

Expenditure on charitable activities includes those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Governance costs include the costs attributable to the charity's compliance with constitutional and statutory requirements, including audit, strategic management and trustee meetings and reimbursed expenses.

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.

Capital grants received in respect of tangible fixed assets are amortised over the life of the asset in line with depreciation.

EXODUS TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

1 Accounting policies (Continued)

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 improvements 5% straight line Fixtures and fittings 10% reducing balance Equipment 10% reducing balance

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 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.

1.9 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.

EXODUS TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

1 Accounting policies (Continued)

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.10 Taxation

The charity is exempt from income tax and capital gains tax to the extent that its income and gains are applied for charitable purposes. No tax charge has arisen in the year.

1.11 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.12 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

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.

Critical judgements

Restricted and unrestricted funds

Judgements may be made in relation to the allocation of income and expenditure to restricted and unrestricted funds. The trustees consider it appropriate to allocate these funds based on interpretation of donations received.

Fixed assets

The annual depreciation charge on fixed assets depends primarily on the estimated lives of each type of asset and estimates of residual values. The trustees regularly review these asset lives and change them as necessary to reflect current thinking on remaining lives in light of prospective economic utilisation and physical condition of the assets concerned. Changes in asset lives can have a significant impact on depreciation and amortisation charges for the period. Detail of the useful lives is included in the accounting policies.

3 Income from donations and legacies

Unrestricted
Restricted
funds
funds
2025
2025
£
£
Donations and gifts
593,890
23,300
Grants
35,133
34,063
629,023
57,363		 Total
Unrestricted
Restricted
funds
funds
2025
2024
2024
£
£
£
617,190
538,840
15,000
69,196
31,375
99,915
686,386
570,215
114,915		 Total
2024
£
553,840
131,290
685,130

EXODUS TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

3 Income from donations and legacies

Unrestricted
Restricted
funds
funds
2025
2025
£
£
Donations and gifts
Donations, legacies and
gifts
228,469
15,300
Trusts and organisations
324,410
8,000
Gift Aid
41,011
-
593,890
23,300		 Total
Unrestricted
Restricted
Total
funds
funds
2025
2024
2024
2024
£
£
£
£
(Continued)
243,769
283,220
-
283,220
332,410
213,501
15,000
228,501
41,011
42,119
-
42,119
617,190
538,840
15,000
553,840		 Total
Unrestricted
Restricted
Total
funds
funds
2025
2024
2024
2024
£
£
£
£
(Continued)
243,769
283,220
-
283,220
332,410
213,501
15,000
228,501
41,011
42,119
-
42,119
617,190
538,840
15,000
553,840
553,840

Included within donations is £20,000 (2024: £20,000) which relates to facilities provided freely to the charity. This figure is the value of the gift to the charity which is the amount that the charity would expect to pay in the open market for an alternative item that would provide an equivalent benefit. The same amount is included within rent and rates expenses.

4 Income from charitable activities

Discipleship
fundraising
Discipleship
personal
contributions
Door
admissions
and till sales
Training
sales
2025
2025
2025
2025
£
£
£
£
Income within
charitable
activities
273,599
369,835
41,380
4,746
Analysis by fund
Unrestricted funds
273,599
369,835
35,300
4,746
Restricted funds
-
-
6,080
-
273,599
369,835
41,380
4,746		 Total
2025
£
689,560
683,480
6,080
689,560		 Total
2024
£
608,624
603,499
5,125
608,624

EXODUS TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

4
Income from
charitable
activities
(Continued)
Previous year:
Discipleship
fundraising
Discipleship
personal
contribution
s
Door
admissions
and till sales
Training
sales
2024
2024
2024
2024
£
£
£
£
Income within charitable activities
254,643
326,549
23,318
4,114
Analysis by fund
Unrestricted funds
254,643
326,549
18,193
4,114
Restricted funds
-
-
5,125
-
254,643
326,549
23,318
4,114		 Total
2024
£
608,624
603,499
5,125
608,624

5 Income from other trading activities

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Non-charitable trading activities 50,189 44,611
Membership subscriptions and sponsorships 15,283 13,737
Shop income 3,000 2,018
Sponsorships and social lotteries 11,200 5,829
Other trading activities 79,672 66,195

EXODUS TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

6 Expenditure on charitable activities

Charitable Charitable
Activities Activities
2025 2024
£ £
Direct costs
Depreciation and impairment 36,472 36,945
Grant funding 114,647 96,545
Discipleship expenses 273,174 230,014
Travel expenses 20,319 21,166
Flights and visas 257,956 218,004
Repairs 20,627 11,937
Subscriptions 5,270 3,753
Licence fees 4,975 4,021
Sundry expenses 12 147
Development 15,165 20,512
Staff development 6,219 4,799
Meeting expenses 9,225 5,750
Gifts 19,641 8,778
Programme expenses 39,776 37,116
823,478 699,487
Share of support and governance costs (see note 8)
Support 644,489 490,142
Governance 12,516 13,423
1,480,483 1,203,052
Analysis by fund
Unrestricted funds 1,340,691 1,135,588
Restricted funds 139,792 67,464
1,480,483 1,203,052

7 Grants payable

The charity made grant payments of £103,543 (2024: £87,373) during the year to Exodus Central and Eastern Europe which is based in Hungary to assist it in reaching the same goals as those in Exodus in the UK. The agreement is for monthly payments which can be altered or cancelled by the trustees at any time.

EXODUS TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

8
Support costs allocated to activities
Staff costs
Rent and rates
Light and heat
Telephone
Postage, stationery and prinitng
Cleaning
Insurance
Bank charges
Website costs
Governance costs
Analysed between:
Charitable Activities
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
Loss on disposal of tangible fixed assets
10
Auditor's remuneration
Fees payable to the charity's auditor and associates:
For audit services
Audit of the financial statements of the charity		 2025
£
486,045
25,540
11,570
2,534
15,377
7,084
28,200
9,399
58,740
12,516
657,005
657,005
2025
£
4,728
36,472
-
2025
£
4,728		 2024
£
403,723
26,863
8,682
2,823
11,695
4,547
21,440
10,369
-
13,423
503,565
503,565
2024
£
4,510
36,945
20
2024
£
4,510

11 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year. The trustees had expenses reimbursed during the year amounting to £180 (2024: £Nil) 12 Employees

The average monthly number of employees during the year was:

2025 2024
Number Number
16 17

EXODUS TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

12
Employees (Continued)
Employment costs
Wages and salaries
Social security costs
Other pension costs
There were no employees whose annual remuneration was more than £60,000.		 2025
£
442,048
34,496
9,501
486,045		 2024
£
366,798
28,946
7,979
403,723

Remuneration of key management personnel

The remuneration of key management personnel was as follows:

Aggregate compensation
The trustees considers its key management personnel comprise the senior leadership		 2025
£
95,329
team.		 2024
£
86,728
13 Other expenditure
Unrestricted Unrestricted
funds funds
2025 2024
£ £
Net loss on disposal of tangible fixed assets - 20

14 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

EXODUS TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

15
Tangible fixed assets
Leasehold
improvements
Fixtures and
fittings
£
£
Cost
At 1 September 2024
905,350
72,224
Additions
6,264
7,240
At 31 August 2025
911,614
79,464
Depreciation and impairment
At 1 September 2024
732,369
57,543
Depreciation charged in the year
29,990
1,758
At 31 August 2025
762,359
59,301
Carrying amount
At 31 August 2025
149,255
20,163
At 31 August 2024
172,981
14,681		 Equipment
£
111,417
5,019
116,436
66,961
4,724
71,685
44,751
44,473		 Total
£
1,088,991
18,523
1,107,514
856,873
36,472
893,345
214,169
232,135

Improvements to property represent costs in respect of the following properties, owned by Padly Limited: · 36 Long Commons, Coleraine

Two of the directors of Padly Limited are trustees of Exodus Trust.

16 Debtors

Amounts falling due within one year:
Trade debtors
Other debtors
Prepayments and accrued income		 2025
£
2,897
39,936
15,970
58,803		 2024
£
3,083
32,662
25,066
60,811

17 Creditors: amounts falling due within one year

Notes
Deferred income
18
Trade creditors
Other creditors
Accruals		 2025
£
10,707
7,046
1,914
30,702
50,369		 2024
£
15,583
4,172
1,262
43,824
64,841

EXODUS TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2025

18
Deferred income
Other deferred income
Deferred income is included in the financial statements as follows:
Deferred income is included within:
Current liabilities
Movements in the year:
Deferred income at 1 September 2024
Released from previous periods
Resources deferred in the year
Deferred income at 31 August 2025		 2025
£
10,707
2025
£
10,707
15,583
(5,254)
378
10,707		 2024
£
15,583
2024
£
15,583
3,716
(3,716)
15,583
15,583

This income has been deferred as it relates to funding received for charitable activities occurring in the following financial year.

19 Retirement benefit schemes
2025 2024
Defined contribution schemes £ £
Charge to profit or loss in respect of defined contribution schemes 9,501 7,979

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.

EXODUS TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

20 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 1 Incoming Resources Transfers At 31 August Transfers At 31 August
September resources expended 2025
2024
£ £ £ £ £
SOAR 5,868 - (3,950) - 1,918
Coleraine refurbishment: capital 13,739 - (13,739) - -
North East Outreach Worker 13,339 - (4,716) - 8,623
CEE 2,500 - - - 2,500
Mary Brown Trust 2,306 - - - 2,306
Dormant Accounts Fund NI 59,362 6,563 (67,364) - (1,439)
Wholehearted 589 2,554 (968) - 2,175
Look Forward Together 3,129 3,526 (6,655) - -
HU Campsite - 14,900 (10,000) - 4,900
Slavanka Trust - 2,500 - - 2,500
Blair's Chartiable Trust - 1,000 - - 1,000
Ardbarron Trust - 7,000 (7,000) - -
PCI Urban Mission Network - 150 (150) - -
Wellington St PC - 250 (250) - -
TBF & KL Thompson - 25,000 (25,000) - -
100,832 63,443 (139,792) - 24,483
Previous year: At 1 Incoming Resources Transfers At 31 August
September resources expended 2024
2023
£ £ £ £ £
SOAR 5,868 - - - 5,868
Erasmus 3,888 - - (3,888) -
Spanish Development 320 - - (320) -
Coleraine refurbishment:
revenue 1,588 - (1,588) - -
Coleraine refurbishment: capital 14,932 - (1,193) - 13,739
North East Outreach Worker 23,368 - (10,029) - 13,339
CEE 2,500 - - - 2,500
Mary Brown Trust - 5,000 (2,694) - 2,306
Dormant Accounts Fund NI - 64,000 (4,638) - 59,362
Wholehearted - 1,940 (1,351) - 589
Look Forward Together - 3,185 (56) - 3,129
Legacy Project - 5,000 (5,000) - -
Magherafelt Centre - 10,000 (10,000) - -
Disciple Shift 100 - 10,000 (10,000) - -
Education Authority - 20,915 (20,915) - -
52,464 120,040 (67,464) (4,208) 100,832

EXODUS TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

21 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 1
September
2024
Incoming
resources
Resources
expended
£
£
£
Designated - CEO
Development
28,883
10,489
(11,381)
General funds
603,134
1,381,686
(1,329,310)
632,017
1,392,175
(1,340,691)
Previous year:
At 1
September
2023
Incoming
resources
Resources
expended
£
£
£
Designated - CEO
Development
-
44,921
(16,038)
General funds
523,508
1,194,988
(1,119,570)
523,508
1,239,909
(1,135,608)		 Transfers At 31 August
2025
£
£
-
27,991
-
655,510
-
683,501
Transfers At 31 August
2024
£
£
-
28,883
4,208
603,134
4,208
632,017		 Transfers At 31 August
2025
£
£
-
27,991
-
655,510
-
683,501
Transfers At 31 August
2024
£
£
-
28,883
4,208
603,134
4,208
632,017
632,017

22 Analysis of net assets between funds

Unrestricted
Restricted
funds
funds
2025
2025
£
£
At 31 August 2025:
Tangible assets
201,543
12,626
Current assets/(liabilities)
481,958
11,857
683,501
24,483		 Total
2025
£
214,169
493,815
707,984

EXODUS TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

22 Analysis of net assets between funds (Continued)

Unrestricted
Restricted
funds
funds
2024
2024
£
£
At 31 August 2024:
Tangible assets
218,396
13,739
Current assets/(liabilities)
413,621
87,093
632,017
100,832		 Total
2024
£
232,135
500,714
732,849

EXODUS TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

23 Explanatory notes to the funds

Unrestricted Funds

General

This fund is expendable at the discretion of the directors. During the year, funds totalling £4,208 were transferred from restricted to unrestricted funds. This reflected restricted fund balances where no further restrictions remained on unspent amounts.

- Designated CEO Development

CEO Development has been designated by the board of trustees for the purposes of developing new projects at the discretion of the charity.

Restricted Funds

SOAR

SOAR is a schools based leadership development programme with two primary goals - to inspire Christ-like leadership in young people, and to reach young people from backgrounds where they are less likely to experience Christian connection.

SOAR is offered across Schools in Northern Ireland with a focus on Catholic maintained and secondary/nongrammar schools.

Erasmus

Erasmus is an exchange programme where interns from Europe come and work with Exodus. Interns receive a monthly allowance and any accommodation costs are paid for on their behalf. The charity also pays for the travel costs to and from where they live in Europe.

The project ended and the extra funds which were not required to be returned were transferred to core funding to support the remaining Erasmus intern costs that Exodus would otherwise have covered.

Spanish development

The Spanish Development fund was set up to help fund a missionary in Spain. The fund was set up for 5 years with the missionary receiving support of £80 a month.

During the year the funds were transferred to general funds when monies were instead paid under a grant agreement.

Coleraine refurbishment

The charity is refurbishing the Coleraine property and has received specific grant funding and donations towards the refurbishment which occurred during the year.

North East Outreach Worker

Specific donations have been received to employ an outreach worker in the North East (Coleraine region).

CEE

Donation received to help pay for accommodation costs for a missionary worker in Romania.

Mary Brown Trust

Money used specifically for projects relating to bursaries, staff travel and publicity.

Dormant Accounts Fund NI

Money used specifically for the development and procurement of a new client relationship manager.

EXODUS TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

24 Explanatory notes to the funds (continued)

Wholehearted

Donations received to cover income and programme expenses relating to a specific event.

Look Forward Together

Donations received to cover income and programme expenses relating to a specific event.

Legacy Project

Specific donations received to employ two workers for a specific project

Magherafelt Centre

Donations received to cover the cost of an employee moving from part-time to full-time employment.

Disciple Shift 100

Donations received towards a training programme for youth ministry leaders in Central and Eastern Europe.

Education Authority

Grant to assist with the recurrent expenditure of various youth centres.

HU Campsite

A fundraising campaign towards a new campsite in Hungary to be a base for the ministry of Exodus in Hungary (both for NI teams in the summer and teams from Hungary and Romania during the year).

Slavanka Trust

Grant received towards repairs and renewals, this year towards the insulation of the Exodus Residential Centre.

Blair's Charitable Trust

Donation received in for the charity's bursary scheme, which was established to make the team's experience more affordable for those who struggle financially (the bursary pays for 33% of the personal contribution).

Ardbarron Trust

Donation received to support the charity's Legacy programme; the legacy project promotes family discipleship, helping fathers and father figures to share their faith and lead others well.

PCI Urban Mission Network

One off donation in support of the charity's legacy programme.

Wellington St PC

Donations received to support a ministry programme in Romania.

TBF & KL Thompson Trust

A grant was received to support the charity's Journey Together project, especially the worker leading the project. The money was therefore specifically used to cover the lead worker's salary.

Transfers

Transfers represents:

EXODUS TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

25 Financial commitments, guarantees and contingent liabilities

Contingent liabilities

The charitable company has a contingent liability to repay grants received if the company fails to comply with certain conditions stipulated in the letter of offer and terms and conditions of contract under which the grants were paid. The directors do not expect any claims to be made in this respect.

26 Related party transactions

Transactions with related parties

During the year the charity entered into the following transactions with related parties:

Key management personnel remuneration is disclosed in note12 to the notes to the financial statements.

Included within expenditure on charitable activities are amounts totalling £Nil (2024: £1,887) paid to Lynas Foodservice, a company in which Mr A Lynas is a director.

The Exodus centres in Coleraine and Lisburn are both located in buildings owned by Padly Limited. These buildings have been made available to Exodus Trust by way of a rent-free tenancy. Padly Limited has three directors, each named as a person of significant control. Two of these directors (Mr P Lynas and Mr A Lynas) are also trustees of Exodus Trust. Included within donations and legacies is an amount of £20,000 (2024: £20,000) which is the value of the gift to the charity which represents the amount that the charity would expect to pay in the open market for renting these premises. The same amount is included within rent and rates expenses.

Included within donations and legacies is an amount of £130,190 (2024: £115,000) from The Lynas Charitable Trust Fund, of which a trustee is a close family member of an Exodus Trust trustee.

Included within donations and legacies is an amount of £2,400 (2024: £2,400) from Mr A Lynas.

Included within donations and legacies is an amount of £Nil (2024: £50,000) from Mrs L Lynas. Included within donations and legacies is an amount of £Nil (2024: £720) from Mr S Richmond. Included within donations and legacies is an amount of £Nil (2024: £354) from Mr C Agnew. Included within donations and legacies is an amount of £1,897 (2024: £300) from Mrs A Witherow. Included within donations and legacies is an amount of £2,990 (2024: £Nil) from Mrs N Lynas. Included within donations and legacies is an amount of £180 (2024: £Nil) from Mrs G Maxwell. Included within donations and legacies is an amount of £1,800 (2024: £Nil) from Mr S Brown.

EXODUS TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2025

27
Cash (absorbed by)/generated from operations
(Deficit)/surplus for the year
Adjustments for:
(Gain)/loss on disposal of tangible fixed assets
Depreciation and impairment of tangible fixed assets
Movements in working capital:
Decrease/(increase) in debtors
(Decrease)/increase in creditors
(Decrease)/increase in deferred income
Cash (absorbed by)/generated from operations		 2025
£
(24,865)
-
36,471
2,008
(9,578)
(4,876)
(840)		 2024
£
156,877
20
36,945
(35,686)
24,342
11,867
194,365

28 Analysis of changes in net funds

The charity had no material debt during the year.