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2024-12-31-accounts

REGISTERED CHARITY NUMBER: SC020228

Report of the Trustees and

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Destiny Ministries

Destiny Ministries

Contents of the Financial Statements for the Year Ended 31 December 2024

Page
Report of the Trustees 1
Independent Examiner's Report 7
Statement of Financial Activities 8
Balance Sheet 9
Notes to the Financial Statements 10
Detailed Statement of Financial Activities 22

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Destiny Ministries

Report of the Trustees for the Year Ended 31 December 2024

The trustees present their report with the financial statements of the charity for the year ended 31 December 2024, which have been prepared in accordance with current statutory requirements and the Trust Deed.

OBJECTIVES AND ACTIVITIES

Objectives and aims

The principle objectives of the Trust are:

Public benefit

The charity meets the definition of a public benefit entity under FRS 102.

Grantmaking policies

The Trust receives a number of donations for specific projects. Any funds received for these projects are ring-fenced and before processing are first authorised by the department head and then paid accordingly, ensuring that all funds are used for their designated purpose.

Use of volunteers

Destiny Ministries is supported by the hard work of hundreds of volunteers, who add incredible value to the Trust. These volunteers are involved in a large range of activities, such as: administrative tasks, coordinating projects, IT and web management, multimedia development, as well as being actively involved in the Destiny Ministries social action initiatives. The Trust is incredibly grateful for their hard work and passion and would like to extend a sincere thanks to each and everyone.

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Destiny Ministries

Report of the Trustees for the Year Ended 31 December 2024

ACHIEVEMENTS AND PERFORMANCE Charitable activities Report for 2024

We thank God for His continued faithfulness and goodness as we look at all that has taken place this year.

Destiny College

Destiny College continues to experience remarkable growth and success. This year had the largest intake of HNC and HND students in the college’s history, demonstrating the increasing demand for our programs. Feedback from the Scottish Qualifications Authority (SQA) has been highly positive, affirming the quality and effectiveness of our teaching and curriculum. While there have been fewer options available in Glasgow for students pursuing an HND in Counselling, we remain committed to providing high-quality pathways in this field.

Significant progress has also been made within the Bible College, where both Year 1 and Year 2 courses have undergone reshaping. This development aligns with our renewed emphasis on church planting and birthing new ministry projects, ensuring that our students are well-equipped for practical leadership and mission work.

Our missions trips this year have been exceptionally successful, providing transformative experiences for participants and greatly impacting communities. Additionally, students have excelled in their internships and areas of responsibility, contributing significantly to Social Action initiatives and adding immense value to the communities we serve.

The Destiny Hope Hub - South Portland Street

Our commitment to serving the local community remains as strong as ever through the work of the Destiny Hope Hub. Over the past year, we supported 15,141 individuals through affordable food provision, including 10,685 adults, 1,637 youth, and 2,819 children. Through our partnership with the Fuel Bank Foundation, we were able to provide essential fuel support, helping 552 adults and 248 children and young people to stay warm and connected.

Counselling and wellbeing services have also expanded, with over 1,500 hours of free community counselling delivered. In addition, two Wellness Recovery Action Plan (W.R.A.P.) courses were run, supporting over 15 individuals in establishing healthy lifestyle routines.

The Hub Café reopened in the latter half of the year, offering free drinks and snacks. More than 600 adults have benefitted from this service, receiving not only refreshments but also friendship and emotional support from our dedicated volunteers. We extend our deepest gratitude to the volunteers, whose tireless service—amounting to tens of thousands of hours—has made all of this possible. Their dedication is the backbone of everything we do at the Hope Hub.

Destiny Family

This year has been marked by extraordinary spiritual growth and engagement across the Destiny family in the UK. We celebrate over 150 first-time decisions to follow Jesus and more than 130 recommitments. Our church has welcomed over 500 first-time guests, and 383 individuals have connected with a Net Group, strengthening community life within the church.

Volunteer involvement has been outstanding, with over 145 new people joining ministry teams. Discipleship remains a priority, reflected in the success of the According to the Pattern course, which saw more than 60 participants deepen their understanding of God’s Word. Additionally, over 35 individuals took the significant step of water baptism this year. We thank God for every decision made, every life transformed, and every sign of growth in our community. Together, we celebrate all that He is doing through Destiny Church.

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Destiny Ministries

Report of the Trustees for the Year Ended 31 December 2024

ACHIEVEMENT AND PERFORMANCE -CONTINUED Charitable activities

Destiny Family Europe

The Destiny locations in Germany and the Czech Republic have experienced another year of expansion and growth, marked by significant progress across all five churches Rosenheim, Munich, Fürth, Ansbach, and Prague. Each location has seen numerical growth, greater maturity, and stronger leadership development. Over the past year, there were 60 responses to the Gospel and 45 baptisms, with elders appointed in every location. Preparations

were also made for new pastors in Prague, and Rosenheim welcomed a new Community Pastor. Meanwhile, the "Love Our City" social action ministry continued to grow and make an impact across Germany.

Love Our City 2024 saw the establishment of dedicated teams in every location, alongside strengthened partnerships with international projects including Living Water Adopt-a-Child,ForAfrika, and Operation Christmas Child. Leaders from these organisations visited, and local businesses lent their support, further deepening community engagement. Locally, teams provided flood relief, visited care homes, partnered with civic authorities, supported international students, contributed to citywide food banks, engaged in prison ministry, and organised Christmas carol singing in nursing homes, hospices, and hospitals - raising funds for Living Water Adopt-a-Child.

On a regional level, aid efforts in Romania delivered essential supplies gathered from German locations to bless widows, orphans, and flood victims. Leadership development was another highlight, with the second "Strengthen" weekend bringing key leaders together for input and fellowship, and the "Together" weekend uniting all leaders from the five locations for apostolic ministry and encouragement. Additional milestones included a successful "God at Work" business leaders event with guests from the USA and securing a new Sunday meeting venue for the growing Prague church, set to open in early 2025.

Partnerships also flourished, with active involvement in Evangelical Alliance initiatives in both countries, participation in joint fellowship events, and strengthened connections with global ministry partners, notably Liberty Church in Pensacola and Summit Church in Alabama. We were also privileged to support Angel Tree, an international prison ministry in the Czech Republic, and contribute to the building project of a new Christian community centre in Liberec.

We are truly grateful for every volunteer, every partner and every person who contributes into the ministry - thank you!

We thank God for His on-going faithfulness and goodness and for the honour of being used by Him to see His kingdom grow in and through us all!

FINANCIAL REVIEW

Financial position

The financial statements show the overall position of the charity as at 31 December 2024, its incoming resources and the application of these resources for the year ended that date.

Income received during the year totalled £343,331 (2023 £359,829) and expenditure totalled £372,010 (2023 £390,669). A deficit for the year of £28,679 was generated against a prior year deficit of £30,840. There were no revaluation of fixed assets undertaken in the current or prior year. As a result, a total decrease in funds for the year of £28,679 (2023 - total decrease of funds £30,840)

Principal funding sources

The main source of funds for the Trust derives from donations of Destiny Churches as well as individuals who partner with the work throughout the world, grants and college fees.

Reserves policy

The capital account represents accumulated funds arising from past operating results, and the Trustees are satisfied that the level held is sufficient to meet all anticipated liabilities. The charity held unrestricted funds of £254,584 (2023 £283,204) and restricted funds of £102 (2023 £161) at the balance sheet date.

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Destiny Ministries

Report of the Trustees for the Year Ended 31 December 2024

FINANCIAL REVIEW

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 acknowledge the resulting deficit in the year, but are satisfied that given the net current asset position and the lack of any non-current liabilities or external financing, the charity can continue to adopt the going concern basis of accounting in preparing the accounts.

FUTURE PLANS

In the coming year we will continue the re-shaping and development of Bible College Year 1 and Year 2, and explore accreditation for some of the modules taught.

We will also be exploring new ministry areas around youth employment and training.

We are also looking forward to meeting with our Network and Family leaders at our Inspire Leaders Days.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is an unincorporated charity formed under a Trust Deed on 5 August 1992, as amended by a Deed of Variation dated 8 July 2008. The Deed established the charity's objects and powers and this is also the charity's governing document. It is registered as a charity in Scotland, charity registration number SC020228.

The Trustees take all major financial decisions concerning the activities of the charity.

Recruitment and appointment of new trustees

The trustees may make appointment of additional or replacement trustees as they from time to time deem appropriate and such appointments may be made by a resolution of a meeting of the trustees provided that such resolution be signed by the person presiding at such meeting.

The number of trustees shall not be less than three and not more than seven and if when at any time the number of trustees shall fall below three, a new trustee or trustees of the charity shall forthwith be appointed to bring the number up to three at least.

Organisational structure

Trustees meet 3 times a year in the UK and online, (since some of the trustees live and work internationally), and correspond regularly by email in the intervening periods.

Induction and training of new trustees

Any new trustees are given a day's introduction to the work of the charity, and are presented with copies of the OSCR publication 'Guidance for Charity Trustees' and the Charity Commission publication CC10 'Hallmarks of an effective Charity', as well as copies of other policies and procedures as appropriate.

Key management remuneration

There are no other key management other than those outlined in the Reference and Administrative section of this report. Remuneration of key management is outlined in the notes to the financial statements.

Risk management

The Trustees continue to review periodically the major risks to which the trust is exposed and ensure that systems are put in place to mitigate those risks. The charity risk register is reviewed and updated regularly throughout the year.

During 2021, as part of our risk management strategy, the Trusts solicitors - Aberdein Consodine - conducted a governance review of the governance and management practises and policies of the trust. A number of recommendations were given, including reviewing our scheme of delegation, updating our complaints procedures and conducting training for trustees and key management. These measures were implemented in the months that followed the review. Through these activities the Trustees continued to show due diligence in relation to risk.

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Destiny Ministries

Report of the Trustees for the Year Ended 31 December 2024

REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number SC020228

Principal address 1120 Pollokshaws Road Glasgow G41 3QP

Trustees

Business manager

Independent Examiner

Gillespie & Anderson Chartered Accountants 147 Bath Street Glasgow G2 4SN

Bankers

Royal Bank of Scotland 10 Gordon Street Glasgow G1 3PL

WEBSITE

www.destiny-ministries.com

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in Scotland, the Charities and Trustee Investment (Scotland) Act 2005, Charities Accounts (Scotland) Regulations 2006 (as amended) and the provisions of the charity's constitution, requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and the provisions of the charity's constitution. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

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Destiny Ministries

Report of the Trustees for the Year Ended 31 December 2024

Approved by order of the board of trustees on 23 September 2025 and signed on its behalf by:

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Independent Examiner's Report to the Trustees of Destiny Ministries

I report on the accounts for the year ended 31 December 2024 set out on pages eight to twenty one.

Respective responsibilities of trustees and examiner

The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). The charity's trustees consider that the audit requirement of Regulation 10(1)(a) to (c) of the Accounts Regulations does not apply. It is my responsibility to examine the accounts as required under Section 44(1)(c) of the Act and to state whether particular matters have come to my attention.

Basis of the independent examiner's report

My examination was carried out in accordance with Regulation 11 of the Charities Accounts (Scotland) Regulations 2006. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts.

Independent examiner's statement

In connection with my examination, no matter has come to my attention :

Gillespie & Anderson Chartered Accountants 147 Bath Street Glasgow G2 4SN

23 September 2025

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Destiny Ministries

Statement of Financial Activities

for the Year Ended 31 December 2024

Unrestricted
funds
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
223,748
Charitable activities
3
Charitable activities
119,583
Total
343,331
EXPENDITURE ON
Charitable activities
4
Charitable activities
371,960
NET INCOME/(EXPENDITURE)
(28,629)
Transfers between funds
15
9
Net movement in funds
(28,620)
RECONCILIATION OF FUNDS
Total funds brought forward
283,204
TOTAL FUNDS CARRIED FORWARD
254,584		 Restricted
funds
£
-
-
-
50
(50)
(9)
(59)
161
102		 2024
Total
funds
£
223,748
119,583
343,331
372,010
(28,679)
-
(28,679)
283,365
254,686		 2023
Total
funds
£
251,464
108,365
359,829
390,669
(30,840)
-
(30,840)
314,205
283,365

The notes form part of these financial statements

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0￿￿￿gn Envekfe ID. 7Bc61BW34F-4LWW￿823FOl8FCB She 31 2024 2024 2023 Notes FIXED ASSETS T8llgible a55ets io 241.131 244.189 CiJRRENT ASSETS Stocks Debtors Cash at bank 3.712 93.662 4.676 2.263 50.839 7.148 12 10?.050 60.250 CREDllORS A￿ountS falling th]e olle year 13 (88.495) {21.074) NET cuRRE￿r ASSETS 13.555 39.176 TOTAL ASSETS iESS CURREN[ 254.686 283.365 NET ￿ETs 254.686 283.365 15 Ullrestiicted filllds Restiicted fi]nds 254.584 102 283.204 161 TOTAL FUNDS 254.686 283,365 The fil￿￿la1 statenEllts ￿Ere approi.ed by the Board of Tr￿￿eeS aud alltknri￿ for issue on 23 Septejnber 2025 and were Si￿ed on its bebalf by. The ]NAes forni part of these fiDaKKial slate￿￿￿ts Pa8¢ 9

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Destiny Ministries

Notes to the Financial Statements for the Year Ended 31 December 2024

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities and Trustee Investment (Scotland) Act 2005. The financial statements have been prepared under the historical cost convention, as modified by the revaluation of certain assets.

Presentation currency

The accounts are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest pound.

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 acknowledge the resulting deficit in the year, but are satisfied that given the net current asset position and the lack of any non-current liabilities or external financing, the charity can continue to adopt the going concern basis of accounting in preparing the accounts.

Accounting estimates

As required, the Trustees have made judgements, estimates and assumptions that affect the amounts reported within the financial statements during the year. Actual results may differ from these estimates. Estimates and underlying assumptions are reviewed on an ongoing basis. The Trustees' estimates, assumptions and judgements that have a significant risk of causing material adjustments to the carrying amount of assets and liabilities within the financial statements are addressed and detail is provided in the associated notes.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. Gifts in kind and the value of services provided by volunteers are not reflected in the financial statements where there is an absence of a reliable measurement basis. The following specific policies are applied to particular categories of income:

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Expenditure includes any VAT which cannot be recovered. VAT is reported as part of the expenditure to which it relates.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

continued...

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Destiny Ministries

Notes to the Financial Statements - continued for the Year Ended 31 December 2024

1. ACCOUNTING POLICIES - continued

Expenditure

Grant expenditure includes tithes.

Charitable activities

Charitable activities comprise all resources expended undertaking work to meet the charity's charitable objectives. Such costs include the direct cost of charitable activities approved by the charity and all support costs relating to these activities.

Governance costs

Governance costs include direct resources expended in the general running of the charity and are primarily associated with constitutional and statutory requirements.

Support costs

Support costs are allocated wholly to charitable activities. Whilst the Trustees recognise that a small part of some items of expenditure included in support costs do relate to indirect governance costs, they are of the opinion that the time and costs involved in performing such an analysis outweigh the potential benefits arising from any such work.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Freehold property - 1% on cost (2020 - 2% on cost) Fixtures and fittings - 33% on reducing balance Motor vehicles - 33% on reducing balance Computer equipment - 33% on reducing balance

If any impairment exists, the carrying amount of the asset shall be reduced to its estimated recoverable amount.

All tangible fixed assets having a value to the charity greater than one year, other than those acquired for specific purposes, are capitalised. It is the charity's policy to capitalise all relevant expenditure greater than £200.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

The charity is exempt from tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits

The charity operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the statement of financial activities in the period to which they relate.

continued...

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Destiny Ministries

Notes to the Financial Statements - continued for the Year Ended 31 December 2024

1. ACCOUNTING POLICIES - continued

Employee benefits

The total cost of employee benefits to which employees have become entitled as a result of service rendered to the entity during the reporting period are recognised and charged to the statement of financial activities in the period to which they relate.

Financial instruments

The charity has no complex financial instruments but does hold basic financial instruments of cash at bank, debtors and creditors.

Cash and cash equivalents comprise cash at bank and on hand, foreign currency on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. A bank overdraft is shown within current liabilities.

Trade and other debtors are initially recognised at fair value and subsequently measured at amortised cost using the effective interest method, less losses for bad debts except where the effective of discounting would be immaterial. In such cases, trade and other debtors are stated at cost less losses for bad debts.

Trade and other creditors are initially recognised at fair value and subsequently measured at amortised cost using the effective interest rate unless the effect of discounting would be immaterial. In such cases, trade and other creditors are stated at cost.

Provisions

A provision is initially recognised when there is an obligation at the balance sheet date as the result of a past event, it is probable that there will be the transfer of funds in settlement and the amount of the obligation can be estimated reliably. The provision is subsequently measured by placing a charge against the provision only for expenditure for which the provision was originally recognised.

2. DONATIONS AND LEGACIES

Donations
Gift aid
Legacies
Expenses contribution		 2024
£
190,773
6,148
-
26,827
223,748		 2023
£
216,282
15,148
11,047
8,987
251,464

continued...

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Destiny Ministries

Notes to the Financial Statements - continued for the Year Ended 31 December 2024

3. INCOME FROM CHARITABLE ACTIVITIES

Destiny college
Rents received
Book sales
Diamonds other income
4.
CHARITABLE ACTIVITIES COSTS
Charitable activities
5.
GRANTS PAYABLE
Charitable activities
The total grants paid to institutions during the year was as follows:
Indian Orphanage
Jesus Alive Gospel Outreach
Small grants
Adopt a Child UK
Other charities and ministries
The total grants paid to individuals during the year was as follows:
Grants to individuals		 Grant
funding of
activities
(see note
5)
£
15,080		 2024
Charitable
activities
£
85,252
30,000
4,331
-
119,583
Support
costs (see
note 6)
£
356,930
2024
£
15,080
2024
£
-
12,000
-
-
3,080
15,080
2024
£
-		 2023
Total
activities
£
79,083
27,500
1,662
120
108,365
Totals
£
372,010
2023
£
34,694
2023
£
9,803
12,000
2,238
2,000
-
26,041
2023
£
8,653		 2023
Total
activities
£
79,083
27,500
1,662
120
108,365
Totals
£
372,010
2023
£
34,694
2023
£
9,803
12,000
2,238
2,000
-
26,041
2023
£
8,653
2023
£
9,803
12,000
2,238
2,000
-
26,041
2023
£
8,653

continued...

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Destiny Ministries

Notes to the Financial Statements - continued for the Year Ended 31 December 2024

6. SUPPORT COSTS

SUPPORT COSTS
Charitable activities
Charitable activities		 DM
General
Fund
£
273,015		 Finance
£
1,224
Destiny
College
£
73,963		 Destiny
Leadership
Resources
Foundation
£
£
2,711
50
Governance
costs
Totals
£
£
5,967
356,930
Governance costs 2024 2023
£ £
Examination fees 5,250 4,550
Professional fees - 2,916
Payroll services 717 832
5,967 8,298

7. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2024 nor for the year ended 31 December 2023.

2024 2023
£ £
Trustees' fees 55,992 55,992

Trustees were remunerated in accordance with a Deed of Variation dated 8 July 2008. This remuneration is for services as a Teaching and Educational Pastor and not for services as a professional Trustee.

Trustees' expenses

2024 2023
£ £
Trustees' expenses 9,543 5,992

The above expenses were paid to or on behalf of one (2023: two) Trustee in respect of international mission & ministry related travel.

continued...

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Destiny Ministries

Notes to the Financial Statements - continued for the Year Ended 31 December 2024

8. STAFF COSTS

The average monthly number of employees during the year was as follows:

Charitable activities
No employees received emoluments in excess of £60,000.
9.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
funds
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
223,598
Charitable activities
Charitable activities
108,365
Total
331,963
EXPENDITURE ON
Charitable activities
Charitable activities
356,911
NET INCOME/(EXPENDITURE)
(24,948)
Transfers between funds
(4,960)
Net movement in funds
(29,908)
RECONCILIATION OF FUNDS
Total funds brought forward
313,112
TOTAL FUNDS CARRIED FORWARD
283,204		 2024
4
Restricted
funds
£
27,866
-
27,866
33,758
(5,892)
4,960
(932)
1,093
161		 2023
4
Total
funds
£
251,464
108,365
359,829
390,669
(30,840)
-
(30,840)
314,205
283,365

These figures relate to the year to 31 December 2023.

continued...

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Destiny Ministries

Notes to the Financial Statements - continued for the Year Ended 31 December 2024

10. TANGIBLE FIXED ASSETS

COST
At 1 January 2024 and
31 December 2024
DEPRECIATION
At 1 January 2024
Charge for year
At 31 December 2024
NET BOOK VALUE
At 31 December 2024
At 31 December 2023		 Freehold
property
£
250,000
7,500
2,500
10,000
240,000
242,500		 Fixtures
and
fittings
£
799
778
7
785
14
21		 Motor
vehicles
£
10,451
10,434
6
10,440
11
17		 Computer
equipment
£
30,632
28,981
545
29,526
1,106
1,651		 Totals
£
291,882
47,693
3,058
50,751
241,131
244,189

The property is shown at cost or valuation, as follows:

Historical
cost		 Revalued
amount
£ £
37 South Portland Street, Glasgow 140,000 250,000

The property was revalued at market value by Pinders Professional & Consultancy Services Ltd on 11 June 2021.

If the freehold property had not been revalued, it would have been included at historical cost of £140,000 with aggregate depreciation to date of £30,800 (2023 - £29,400).

The depreciation method for freehold property was changed to 1% straight line from 2% straight line in the previous year. This revised estimate will affect the depreciation of freehold property in the current and future years.

In the opinion of the Trustees, the value as at the balance sheet date is not materially different.

11. STOCKS

STOCKS
2024 2023
£ £
Stocks 3,712 2,263

continued...

Page 16

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Destiny Ministries

Notes to the Financial Statements - continued for the Year Ended 31 December 2024

12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade debtors
Gift aid
Other debtors
Prepayments
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
Social security and other taxes
Other creditors
Accruals and deferred income		 2024
£
51,484
611
40,877
690
93,662
2024
£
4,797
(21)
75,548
8,171
88,495		 2023
£
36,036
378
11,790
2,635
50,839
2023
£
2,715
3,099
3,000
12,260
21,074

13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

An analysis of the movement in deferred income included within accruals and deferred income is detailed below:

£
Deferred income
Opening balance as at 1 January 2024 1,671
Released in year (1,671)
Arising in year -
Closing balance as at 31 December 2024 -

Deferred income represents college fees for classes take place in 2024 and has been released in the year.

14. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Unrestricted
funds
£
Fixed assets
241,030
Current assets
102,049
Current liabilities
(88,495)
254,584		 Restricted
funds
£
101
1
-
102		 2024
Total
funds
£
241,131
102,050
(88,495)
254,686		 2023
Total
funds
£
244,189
60,250
(21,074)
283,365

continued...

Page 17

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Destiny Ministries

Notes to the Financial Statements - continued for the Year Ended 31 December 2024

15. MOVEMENT IN FUNDS

Unrestricted funds
General fund
Destiny College
Destiny Leadership Resources
Restricted funds
Destiny Angels fund
Indian Orphanage fund
TOTAL FUNDS
Net movement in funds, included in the above are
Unrestricted funds
General fund
Destiny College
Destiny Leadership Resources
Restricted funds
Destiny Angels fund
TOTAL FUNDS
Comparatives for movement in funds
Unrestricted funds
General fund
Destiny College
Destiny Leadership Resources
Restricted funds
Destiny Angels fund
Indian Orphanage fund
TOTAL FUNDS		 At 1.1.24
£
260,792
20,126
2,286
283,204
152
9
161
283,365
as follows:
At 1.1.23
£
275,940
22,276
14,896
313,112
595
498
1,093
314,205		 Net
movement
in funds
£
(41,666)
11,417
1,620
(28,629)
(50)
-
(50)
(28,679)
Incoming
resources
£
253,620
85,380
4,331
343,331
-
343,331
Net
movement
in funds
£
(38,892)
12,582
1,362
(24,948)
(443)
(5,449)
(5,892)
(30,840)		 Transfers
between
At
funds
31.12.24
£
£
7,646
226,772
(7,567)
23,976
(70)
3,836
9
254,584
-
102
(9)
-
(9)
102
-
254,686
Resources
Movement
expended
in funds
£
£
(295,286)
(41,666)
(73,963)
11,417
(2,711)
1,620
(371,960)
(28,629)
(50)
(50)
(372,010)
(28,679)
Transfers
between
At
funds
31.12.23
£
£
23,744
260,792
(14,732)
20,126
(13,972)
2,286
(4,960)
283,204
-
152
4,960
9
4,960
161
-
283,365

continued...

Page 18

0￿￿￿gn Envekfe ID. 7Bc61BW34F-4LWW￿823FOl8FCB Cor thè Yoair End￿ 31 Doe@tDbor 2024 15. Compardtive net fi]tMIs. Includ￿ in the ab￿"e are as follows: IncoD]iDg Resoutces MoNeDRllt Utsre5¢Tifted funds General fimd DestiIiy Colle8e Destiny Leadetship Resources 231.781 98.520 1.662 {270.673) (85.938) (3(M)) (38.892) 12.582 1.362 331.963 (356.91 l) (24.948) Re5trieted fullds Destiny Angels fimd Inth"an 0￿￿￿e fi] (444) (33.314) {443) (5.449) 27.865 27.866 (33.758) (5.892) TOTAL FUNDS 3$9.8?9 (390.669) (30.840) To ￿Cell"e the norn]al income paythe n]nDill8 expeDses of the cljarity. Colle To Teceii"e the fees aad pay the rutllLI￿ costs of DestitLy College. De51 Leadershi Resoutces To teceii"e income from book sales aDd to fiDance pwchases of stock the [tU￿ling cosls of the book store. Destin An els fijnd Indian This represents accu1nu￿led donatioLs atMI aP￿alS for Jndian 0￿ba￿ages. Transfers behveell fimds Transfers froD] sperific funds totalliog £7.568 (2023 - £28.704) took place in the year lo support Destilly College fuDds. Fulld trallsfers in the year ieflect itlCOll￿ alld eXpeDth"1L￿e piopuly through the n￿st appiopriate fluid. 16. BELATED PARTY DISCLOSURES - Tnjsiee - feeb. £55.99? (1023- £55.992) Durins the year. expexlses in respect of trdi.el costs rel￿burs￿ by Destiny Church Tn]st on beba]f of De5tin}".1lti￿.[Tre5. The total expenses reimbursed in the year was £6.380. The anmjunt recharged . recei3-ed Salary Pa￿ of £32.554 (2023 - £32.554). pension Pa￿llents 11 e (lonalii)n5 to Destiny Mini5tiies of £8 ?35 (2023- 7.821). In additi￿￿￿ has tak¢n ¢ouD*lling duting the )rar. Total ¢oll¢g¢ f¢e made was £926 (2023.. £1,077). Ar 31 DeieTnber 2024. a balance of £?66 (20?3- £266) ou'ed to Destuiy Ministries. . ll]ade donations of £1.680 (2023 - £I.575) to Destiny Ministries in the ye￿71. ciddlfioll￿. £2 of £l.O-. % 11023= £1.08?) related to trdi-eL colle8e and eiEnt expenses were reimbursed e year. Page 19 Continued...

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Destiny Ministries

Notes to the Financial Statements - continued for the Year Ended 31 December 2024

16. RELATED PARTY DISCLOSURES - continued

The total amount of donations made by Trustees during the year was £6,174 (2023 - £7,358).

One (2023: Two) of the Trustees incurred expenses totalling £9,543 (2023 - £5,992) in relation to international mission & ministry related travel, broadcasting and other expenses.

All and any Trustees receive no income or remuneration for being Trustees, and have no say or input into salaries for professional services rendered to the charity. Any remuneration is set by an independent salary review board. Any consultancy services rendered are agreed on a professional basis by the board and their advisors.

Destiny Church Trust - SC017898

The charities shared one common Trustee during the year. In addition, the business manager of Destiny Church Trust is a Trustee and business manager of the charity. The following transactions took place during the year:

The charity owed £75,548 (2023 - £3,000) to Destiny Church Trust as at the balance sheet date. Destiny Church Trust owed £57,828 (2023 - £20,650) to the charity in respect of tithes and other contributions at the balance sheet date.

Destiny Church London - 1176623

The charities shared one common Trustee during the year, with a Trustee of Destiny Church London SCIO being a key manager of Destiny Ministries. The following transactions took place during the year:

Donations received: £1,101 (2023 - £4,004)

Destiny London owed £nil (2023 - £130) to the charity in respect of tithes at the balance sheet date.

Jesus Alive Gospel Outreach

This is an incorporated Scottish charity with company number SC285658 and charity number SC036592. The charities shared one common Trustee during the year. The following transactions took place during the year:

Grants paid to JAGO: £12,000 (2023 - £12,000)

continued...

Page 20

Destiny Ministries

Notes to the Financial Statements - continued for the Year Ended 31 December 2024

17. ULTIMATE CONTROLLING PARTY

The charity is controlled by the Trustees as listed in the Report of the Trustees.

Page 21