NolKrf11250 Contents SIM International (UK) (A charllth company limited by ants• athl not havwty a sh•r• capltal) 11 14 SIM 15 SeThing in Mlsslon UK
SIM IKfERNATIONAL {UK) REFERENCE AND ADMINISTrATNE DEfAILS FOR THE YEAR ENDED 30 SEPTEMBER 2025 September 2025 as f(kn: REGISTERED COIIPANY lallABER I112) CHARITY RE¢4STRATION NUMBER 219763 IEnglarwJ) TRUSTEES Mr5 A Selby, Interim Chalr. from 4&) AtMII 2025 Rev J W tw, chaIr. lItt 4th 2025 Dr C Reid MrNRJY(xrye Mr D B Thompson, Cochalr, 4th Pyll 2025 (resh3ned 2> Septantw 20251 Mry MerNJistu Wddeg8 (reg 27th Noven*w 2025) REGISTERED OFFICE 8 TNst C(xwt His INOEPENDENT AUDrroRS BANKERS Bardays Bank PIC SE27 9DW ScrroRS E(k¥ard Sdicit<xs 10Th&Point LE16 7QU
SIM INTERNATIONAL (UK) (A Company Ilmlted by guarantee. No: 00611250) (Charity No: 219763) TRUSTEES REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2025 The T186& wh) are also DiBclors. have pure rl preIl[vj thelr repcwt tcyther the GovornlrKJ Inslrumwrt not having share CZlMtsI. The talo was as SSan IntwiorMl&won (UnltedKThj Linwled. Subsequent Vith Andss Evary81K kllsslon in 1w2 extwthd ts w(Yk to South Arwl¢x, with Intematsonal Chiistian in 1989 added fidds kn Asla. ilh Afi¥ EVawelal Fellowthlp (pr8viousty SAGM) in 1998 eXId the work fithr Into s( Afri. The nwer 7ith MECO UK & lrnlandin 2016 exlwKkd the work oftho mlssty Into th8 Mbjdle EasL SIMlnlem8tional (UK) rsifvi uir) is tho UK dSIM. th8 rskr)."S8Trlng In Mls&orf18 a thirwj of SIM IntwrAlionaF UI The frllowing Trustees forthe lM)le ofts kvhxl 111 Oct(kn 2024 to the dat8 of Ills report Mrs A Selby. Interkn Clwlr. fr(m 4th 2025 Mr B C Chan(kr Rev J W twr, C(kChw. Imll 2024 Miss C L Nawm DrCRdd MrNRJYcuyi cxxtsists of tha dkwXor& is wrt5U•J kn rM)minate and dir•a( The Board usualy meets quarterfy, meFth5 vew8sent a rdr#Je of relevant expern 1nrAlng sion. nNsslon aTrJ vdues. AJI dirwlm gfve of I1 tkne fr88ly a1 808rd directs rocfved qualified K81S serve. as Frnn and Lega Ccffinittee Mr N R J Younge. ap[Kxntj 1t Septemter 2025 Mr A Hake MrTJWal Rw J W tyyer. Clk*. fmm 4th 2tr25 Miss C L Nthwnan A S8lby. Char. LH11 4PA April 2025 Mfs E
SIM INTERNATIONAL (UK) (A Company Ilmit•d by guarantse. No: 611250) (Charity No: 219763) TRUSTEES. REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2025 Mr A Hawthe MrTJWatte MTS E LaundyJry Head of CWatlrML Mrs H 8oxal Head of MIssKm Personnel & P40 Mr J 8eggs UK Llrec Voluntwvs Rl$k management The Trustees togetherwilh the UK Dlrecor haNE resFwsknltyfoT risk marwent prthJres. A fory¥HI process is In pla wKludes devdq)nwft and review d a LX)mprehensive organisational rtsks. pres)1 the risk Trgistsr to the Trustees to reth¥. Stqys are tak8n to mthgatellxJ58 rk5 that have been assessed in the light of both th& Ihg Trelih(x)d ofeach lis Data breach Including Gl)PR ccrfnrAianc. athleve Strateg goals. arKI irKreased 1WébX of falirvJ to meet comFlian( requwemènts. subsequent donlum in 1Ce ItBt thr8aterts th8 (8rWs long-tem finandal sustainability. ECCTh)nC unwtainty atxl finanua wstainabilty. teryn vlslt to a high-r area. Otrjer key c£fitr$ u$8d indude: Preparation of a stratw pkn generaty eNwy 3 from and Okwatic plans are developed,.
SIM INTERNATIONAL (UK) (A Company limited by guarantse. No: 611250) {Charlty No: 219763) TRUSTEES, REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2025 Stroj, (xedible Kn)fess1 legal acoJJDliry advK in F4ac4" OwVlsh)n A world a wftness to iJrisfs Im is knt kno. (tscAs CJ8 eXrj Gcd'$ cul¢ural mission. Our mission Compelled by G(xJ's 1 love and by tho W Spirit We make di[p vm trust and Jesus and part of chr-c8ntr8d cur¢hes. aF Our Purpose Slrntsgy frcffi 2025- 2028 In Awil 2025. laUhed a Stra ts SIM im. fve fcojs ar will help ts) sharpw focus and enable us to effectivdy and sustainatty p our part in Gcrf8 mK88Kn tc•Jay. wothJ strategically towards cwMsJn and (arrying (xrt our mlssk¥i. the numtwi)f SIM w(xkers suth pla$. and the UK thurch IrrfO aThJ 8ngagod We want to see the UK thurth a(aNely in mait¥J iliscatles wfiere Clulst is least praytng. financidly SUptij us wM* assL%knJ With Ihetr k>¢al LYOss<ral mls8ion. GTowlng and a SIM UK We wantto see a unTrled team ofnknkn in txoss-EturaI in
SIM INTERNATIONAL (UK) (A Company Ilmited by guarantee. Mo: 611250) (Charity No: 219763) TRUSTEES. REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2025 We byant to see an othni( xK4o-eCx¥1IY dlverse, ValY TJS$, our vhder staff team other stake1VderS arNJ Wdlued this(xs. Several parts of the strategy biiTr3 tofftr and artt(yJate the exisbry work ¥ (k). but bri{¥ thls tnto dearer focjjs and exFwience in support of ¢)ur strategK al. Sift laurthrKJ the strategy. we have seen prcgress Howwe are W01n9 to achleve ourvlslon )rtd to th& gOj of Jews in many (Ilterent cxmtexts. We have twi abl8 to se1 finaKaal SUPFrfYt frc¥n UK a1 irthi(knl suFwt&5 to jr8 WLyecs atLKmd vId. This y8aT. a totsl of £419.116 {2024: £788,W4) vrds mission from the UK and hdp them a(ieve their wal of rnakr thxiF4es In the ere tw are w)blry. of our nmssion rkerS are to share their fatih and nJ3ke Uwist k, we have workers vtho are partiDJlarfy fLv559J on hdFing to disdple t. thurth F4antir¥J and enoyJragSng them to shwe Ihwr failh. We ha rykers in Eath. FraThz. South Asia Ethiopia lJl8dkal Ml•slon ical re has a%vays teen a $vJnIfnt part of SIM'S a5 we seek to KXOVKle re to people who [e In parts ofthe *Drld %ther8 healthcare is not eastiy a0xs&e to m. Thls Ihrough missmjn wrrfkers and finaThial amj. VKKker5' rol&s I11e those th are surwns. dcrfttert. nutses, physloth•. and d8ntlsts. all of are able ts) h8lp Mrtth thelr $al rEeds also sharrwJ rv4VS of ChrisL
SIM INTERNATIONAL (UK) (A Company limited by guarantee. No: 611250) (Charity No: 219763) TRUSTEES. REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2025 Thwlogl(l <knr Ihe last 1 s. Stm has h8Ttd lo e51aWtsh in thfferent rjxjntries. ore now flourishing. kKally Nn dyJrche& and C£Mtin to partner 7hith them, partirxlarly Sn Translati and have pr(¥etts in Faso Nw. In many Pla wher6 SIM enttrtmter a ran of }ssS related to Fovety Injustlce people's hearts to the g• TrsSe aTrJ lead to m to faith in Jesus. We also have several WOrkS th are hel thildren in PC( pla2s get access to ttter ed11(. relalionshlps In dlveT$6 rxrn1wt$ aNI seè CL to faith. SIM is a global Organisati tvkwvJ in 70 cxmjntiies SIM oifTr 1$ an IndeFendent . UK4)a8od Staff T th the kKal thurch to to be knvdwj In Vld ntsSM. p1 B•n•fft The Trustees adhere to the awrKy con¥nIs'S gUKlar ar¥J, in lilar. the addreswl a range ofsuth WlC benefft tAJrposes. Indu. F&4111aling pw to leam morn the failh &KI kn deepeny of tholr trust in Jes Christr. . Work6rffJ wilh thurches in the pKorest C(Kth of Iha wcld lo and
SIM INTERNATIONAL (UK) (A Company limited by guaranteè. No: 611250) (Charity No: 219763) TRUSTEES. REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2025 Vle bdieve that all F•e are valuable arwj Y of trf)th r 8Th1 care. bese thèy ar8 mad8 in and v81ues all equalty. We beFAw we twe Ixwi5aliDnaf rESF¥XtsitIty, before J, lo f0[and Our Chtld Safety pdKy is s1gr1 to rethK tr risk of h•m kn thddren und8rth8 txre ofSIM UK and to the risk of nvSc£¥N tthrards thJbJren by SIM wt¥ke WHI always aim to ad in tha b88t at iisk of hwm. lo safeguard the weware of eVtry &thin our care. ty eamesuy strNing to trtect them from hami I fundraisiw corrrnUnkxti was c(¥Mlucknd in accxxdmwith GDPR iegi51atKm, fo5tCMfjThJ 8ppltcatde guIda. Fdiry and wcKdur8S: Nerther the charity acty on behalf Of tharlty was subiecl to an dertn0 to . The database of Supvjrte mrtainèd by ts dwlty Is upknd wulaty to ensure the Flnancial Revl6w In¢m fur th8 ygar was £4.627.691 corw•J to £4.461,053 the prethB t4¥0fv0 Trjnths - an increase of 3.8%. Wlthtn thts fvJuTe. dcTht5ons M$s10T, SIM mlnisty. arml proJg¢ts awounted to £4.137.427- an irK¥8ase of4.9% cthnpared to the F8viouS of£3.913.880. Vc4untary Total expanditurg was £4,614268 compar1 to £4,761,931 in 2024 - a d8$0 of 3.1%. Thls year of£35.014. ¢ryuiri85. Our maln fundlng sou? 15 donalfrorn thrAtsaiKIsofiTrJivKS aTrJ ovor a h)dred dKtrrh85. Most d thurthes rwroin loyal gels in their SUFWt even thJTiry urKErtanty. tirr hwizons.
SIM INTERNATIONAL (UK) (A Company limited by gurntee. No: 611250) (Charlty No.. 219763) TRUSTEES, REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2025 instNThnts not ex¢e&Jing 2 of the total fLKth In¥esbJ the nlIvrn temi. Lory temi funds (Imr The Trustee5' obiedive ofenwriTr3 tst frJrNJ5 are inveed that are wdkthversTfivJ a1 ith a18vel of risk L%xnmensurdte Ihat aFfffwlat8. has athlev&J thr(h Investing in of flnancial institukns. This acts)urt was also th8ed to fv funts In fmJiLTrlerni doposbt accx)unts. versus UK equllles. subwuerrt years The Trusta8s have agregj th suffi(xwrt FEserrfes ry11 btrwlo wUr0th8 sustanthlty of the tharlty's vo ym. The Trustee5 revwN the level of reseFves C a (warterfy basss and oThMJer that 5uffldent Unrestri reseryes stc(#J at £2,481049 (2024: £2.326,967j, whk was ryd&J to bo Iri Ilne wlth thls Fdlcy. Th8 Trustees tev6 Ihere are m material unrtainliesthat cast Sb3nllkanl d(xJbt aix)utthe ojmpany's ac£ordance Vth aw1110 law and UnibJ KIChyn P£tnrj StOrds (United Kin9dom Generally 15 of thg Conw1 ALtt 2006 r8latlr*J to S UK Dwects is aFvc4nted by the Tntste89 Company law requlr8s th8 Tee8 to slateThnts for finwhial year. Under company the Tfustees m1 not aK¥Th Ihe firwNial slataff unless they are satlsfied that11
SIM INTERNATIONAL (UK) (A Company limited by guara. No: 611250) (Charity No: 219763) TRUSTEES. REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2025 and otheNAse is maintsined. Ttrw are resPIble for ke8FiThJ adequate actntIng racord5 thal the Trustees, havtng maje wffjuirles cl falkhv dire(*x5 and thg organi5alicffl's au(thtor that they oughl to trAve lndknd[ty made. twe eath taken steps that are to lake as a relalng to small enti5. Mis A Setby, Interim Cha 6 Tnt C(Art. Hston Date 23r# Aprfl 3)26 10-
SIM INTERNATIONAL (UK) (A C¢)mpany limtted by guarantee. Ilo: 00611250) (Charity No: 219763) INDEPENDENT AUDITORS, REPORT TO THE TRUSTEES. OF SIM INTERNATIONAL (UK) FOR THE YEAR ENDED 30 SEPTEMBER 2025 Oplnlon We have audlled ts flnandal stat•nts of SIM Interna (UK) I1 'cknaii18t for the SIlfilnt a(Unng The rep(Kting Iramevth that ha5 b8en appl in their Stsndwd 102 The Finan ReFth StaTrJard arwicle kn ts UK aiid Rewknli¢ of Ireland, Iunlted Klngdom G8n8r8lly A(xepl&J Acojmti PraL#k). and of its in(milng regjwces aThJ aFvllcaliffi of re$(wc, hl81ng ils expwwjibjre, forthe year Ihen eTrJed: Practice. and Wo Ll)nducted our autht In ac(%r with IntWri SlwNlards (UK) {ISAs (UK)> and appliLzble law. (kn re5F)ns1)ilitl8S Ihose standarts desid the Audltorfs responsibilitses frthe amjit 0fr financaal smefts of our r8kMXt. We arg ind8&t of Ilnancial statements In the Uniled KitW. ¥U1n9 the Fina1 rlI,5 Ethlral our opknk)n. Concluslons relalng lo going concern us lo reF*yI to you vhwe." nw cast stgnifiLznt dcMJbt atyxrt th8 charitable cryan$ abtity to Lxjrthue to a&)pt the goiry Inth0j In the TNstees' Annu4 Repcrt ots than Ihe ffinwKial statements and our lIC<S RepLKt statéments or knowtedge tne kn the aLMlit or appws to be materially mi5Stated. If rrlsstatement ofthe othw Infom%akn. If, based on Ihe pthrnwl. condudfrthatthere We haNp nothkng to reF(ft in this wrd. 11
SIM INTERNATIONAL (UK) (A Company Ilmltod by guarantse. No: 611250) {Charity No: 219763) INDEPENDENT AUDrroRS' REPORT TO THE TRUSTEES. OF SIM INTERNATIONAL (UK) FOR THE YEAR ENDED 30 SEPTEIABER 2025 the lnfommtlc given in the Tnjstees. RepLYt fLT the fwwKia yaarfrxwthtth th8 finCial statements in ts urse of the a( we have not Klenlifi&J rnatsrl MISS In thg Twe's ReF¥Jt We have rM)ttuThJ to rewl in r8¥F of the f01b matters in rdalion lo th& CcKnpanl6s A(X 21x16 arKI the Chariti8s and Tnjstees Invests (Srthand)kt 2fN)5 a1 i)wilieskn4xs (Scotland) RegtiS 2006 us to reFxxt to if. in rw opiiiLYt: ertaln disdosures of Dir(s' remunwi)n SFeufted by are Th)t rrode: As ewalned rnore fulty in the Trustees. resports1btheS slatemrt the Twstees Ivtho also the prepara11c of the finandab StatW aTrJ tthg sallsfvj Ihat they fv a aThl fairview. and for Jc Internal ojntrd as thg TfUStees' deterrriTh is nSary to the preparakn of 1]rlal cCffipan abilty to continue as a g(xng cthcem. (fL8dosing. as applicable, matters related to going the thatalle C(xnpany or to cease (watxxts. or have rK) reallstlc altemative to do so. ()Jr obpctives are to obtain reaSable awrance aEyxrt the finandal statemerrts as a whole Irmgudes our eplnicffi. Reasth assurdrKe Is a INgh level of assan. is not a guarantee that an auditconducted In a0)xdan V+ith1&4s (UK) always (ktect a material m1sstatewrrt vthen it exists. the basis lif these ffrAncFal slatanent proureS in line our resp¢Ytsbllilfiès. akK)ve. lo dete(l ffoteri miSststeffts In respect We gan6d an urKlernthng crflhe arml ral(frrnYkaFFlIce to the charitable (x)mpany laws and regaIlly?s fra1 ID parthJJ tsKe thatx have a material impact on finand81 enyloynEnt law. finaniiai reFthkng axl & safety. -12-
SIM INTERNATIONAL (UK) (A Company limited by guarantse. No: 611250) (Charity No: 219763) INDEPENDENT AUORs. REPORT TO THE TRUSTEES. OF SIM INTERNATIONAL (UK) FOR THE YEAR ENDED 30 SEPTEMBER 2025 these wvjuded the f01b. particular. we (arried out t ofjW entries. We have made enwitles offfon•3ern•rt arKI offi(xs thartlAe (XnYr8gard1Thj lats and regulations applk¥ble to the rXgardSat. reFosc BeLw5e of the Intrerrt IlmStations of Ihere is o risk that Witl not [laT[ties. regulation. Ths rlsk increases the m¢xe that cxJnpllarKt tAfjth a f&¥ or gula1 is TrnN)ved from the of Instan of nOn-(lpI1aTr. The tsk Is also greater fEgardlng i8gtIeS cAjrTIng due to fraud rather than as tra1 hwobm itentrcYFal nClM forgery, collusth. omisston or IndudiTrJ fraud. FinaThl Rewxbng C(KJnra's bg4te * wwv4.ftc.or .ukJ part ofow audEtc¢s repcrt ?nsits" s(we and Imlng of the audh and sWlfiraDt swjnifrant dthien(48s in Intwnal rJJntrd that we hn0fy during ¢)ur audFL 3 of Part 16 rl the cnIeS Act 2006 to lh8 charitable ctryanvs Trustees, as a t. 8o)xdano Regulat¢(ffi 10 the (wilies {SLY)ITwKII Regulallorts 2006. audit arg requlred to state to them In an AudItS reFth no other wrpose. To the fullest extant pemiitted by law, not or assu r8SFKThii lo artyme othw Ihan thè thafftablo the 4Mnlorts have Ic1. For and on behalf of. pr1 Balley LLP Statutory Audltrys Cambrldge Business Park Canbrfdge CB4 OWZ Date.'25 June 2026 -13-
SIM INTERNATIONAL (UK) (A Company Ilmlted by guarantse. No: 00611250) (Charlty No: 219763) STATEMENT OF FINANCIAL ACTNMES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 30 SEPTEMBER 2025 Funds Funds FuThls Fund8 Total Total INCOME FROM 288274 56.816 44. 4.137.427 4.470.601 4.175,336 60.816 89.343 89.963 192.T14 6.311 Lega(xes Investments 4,891 1.420 TOTAL INCOME 439,944 44,900 4142,847 4627,691 4,461.053 EXPENDITURE C1 Raisir#J funts Chaiitable acthllks 26,347 411.018 26,347 21,924 4.587.921 4.740.CQ7 89.720 4.087,184 TOTAL EXPENDITURE 6,7 437 89.720 4,OB7.184 4,61426B 4,761,931 NEf FNCOIAE I IEXPENDITURE) BEFORE INVESTMENTS GAINSI{LOSSE81 2A80 (41819) 5&663 13,424 1300,8781 Net gall I {Ickws) on ¢fist*)sal of flxed as$6ts (zsm) (2,504) Nel gaiTrs l (Itxses) on Invastmonts 1&8,C 158.C69 57,438 18 (3,() 2.078 {89,015) NET MOVEMENT IN FUNty 15S082 (4U19) 147.741 189.015) 168.989 P41440) RECONCIUATM)N OF FUNDS: TOTAL FUNDS BROUGHT FORWARD 18 2.326.7 ,792 1.458.746 193.645 4.786,150 5.029.5 TOTAL FUNDS CARRIED FOIiWARD 18 2A811M9 761,9TJ 1.606.487 101630 195&139 478Q150 All Income and expondtturo dgrfve from oxrflwing adiv[t. 14-
SIM INTERNATIONAL (UK) (A Cornpany limited by guarantee. No: 00611250) (Charlty No: 2197631 BALANCE SHEET AT 30 SEPTEhlBER 2025 FIXED ASSErs Tangle assets Intang&Je assots 10 11 12 I.076 1.7T5 610.521 2.131 1.630.796 2.9)5,851 2,243.448 NON CURREKf ASSErs Debtors f8111ng due after more than CURRENT SsETs 13 398.680 14 1279.087 15 769.939 201.197 1.266,469 1,638.133 Cash at bank and in 1447. 3.105,799 CURRENT UABILITIES Cred[. ArTrJunt5 f811IrwJ dua VAIP 16 (393,) {S$3.0971 CURRENT ASSETS 2.054.110 2,542.702 CURREiif LIABILMES 4.959.961 4,786.150 Ikibillty 16 (4.822) NEf ASSETS 4,955.139 4.786.1) THE FUNDS OF TrE CHARrrY: 2.W2.049 761.973 1,eL6,487 104.630 2,326.7 8C6.792 1,458,746 193.645 Designaled fijnds R8stricbJ funds 18 4.9S5.139 4.786.150 notes on pago 17 to 37 frym part ofthese aronts. and on Ih8tr b8lK*f. by: A Selby, Inlerlm Ciialr 15-
SIM INTERNATIONAL (UK) (A Company limited by guarantee. No: 00611250) (Charity No". 219763) STATEMENT OF CASH FLOW FOR THE YEAR ENDED 30 SEPTEMBER 2025 2024 (452.312) (2332C6) (6.402} (55o.Cm) 28.386 {4,6161 Inve5tsnent purchases Invesknenl sales & malu Investm•rrt incom8 130,655) 192.T14 1438,053) 157.S)3 Change In ca8h and cash •qufvJlerts in the yaw I.365) (75.703) of the year 21 3.742.795 3.818.498 Cash and cash equ1val0 at Ihg th•y 21 1852.4 3.742.795 The notss page 17 to 37 fomi part ofthe5e )ur -16-
SIM INTERNATIONAL (UK) (A Company limited by guarantee. No: 00611250) (Charlty No: 219763) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025 SIM Intemalk>na (UK) Is a Charity that ks a Prirte Lknited Cryryany by guarante& whlth . reglstered in ErylarKJ & Ws {taxqnY rrtNnir. 611)). {tharfty numtw. 219763) arKI also England. C824 gPW. The 612024- 9) MrS ofthe dwrty LMlSe the Trusle8s. ACCOUNTING POUCIES (FRS 1021 {tive 1 Jarnwy 2019) _ IChitles SORP (FRS 11r2)>, the Final R6portiro Slandard 4F1trAe rn ts UK arKI Rewbk of Irela[ (FRS 102). Ihe Ccrfrwni6s 2006 and the Charltss and Trust98 Investmwt (Scotland) Ad 2CQ5 8 of the Carilies SIM IntematKm81 (UK) meets the ththStlon d a pj14 benefft entity FRS 102. Assets arKJ the ielevant acrwntiThJ wlty. 22 Fund aG¢¢Junllng FO11thng the Tequireryts of the slatwt F1c al ts fwKls of SIM Intematlc¥)al (UK) have ovw the offmys . arwj aminislj suth fimds are dwg&l ag* fuThJ. The aim and use of ea 17-
SIM INTERNATIONAL (UK) (A Company limlted by guarantee. No: 00611250) (Charity Ilo: 219763) NOTES TO THE FINANCIAL STATEldEKfs (COlrnNUED) FOR THE YEAR ENDED 30 SEiyfEMBER 2025 ACCOUPffiNG POUCIES (conknwd) D•signat•d Fund5 partiCLdar p[3985. The am and use of each desJatsJ nd is set out in the notes to t (£11110n$ a$Stsated with the donat rtem ha Iirt Ihe Tecpt 0fnomIC ten8fft from Ihe use of the ctsrity ofthe item Ss FvcthtAe and that L)e bè rellatrAy. In aLXEvilan vAth the Ctwities SORP (FRS 1021, the general v(lun lim8 Is not recognTsed been nde by the executls) to the d)arity thata rfLsInltiCxJ wli I be made. orwhen a distslbution is received frcm the estate. Rlpt of a Iw. in Yknle Lf in parL is Y sider& probable when the aMot can be Measur reliaL4y. arvj dwity has Ttifi of the ex8S Intenti to ffke a thstrknrtim. Ifthe193acy is in ts form Of asset otrr than cash or an asset Ilsted on a rri1 stcKk excha. is SLA¥¥t to the value ofthe assot being at40 to be relia Th89Jr&J and thle to the asset has rA&s8d to lh8 rtsity. Vthwe 18gaci8s have b8en noffied the carity is aware of ts wtirrfj of ryctste, and the aiteria for Income reccgnitton have not been meL Ihen the lthjacy is a tTrated as a ringent at and disdosed rf matwial. reliably by the thartty, this is nomially upon notificajon of the interestpaid rx payabl8 by the Bank. DwtdeThls are orth th8 dividwbJ has been dedarwj aTrJ no11tion has b8en rad d ofthe InVestr tx¥Udk>. 2.5 Penslons of the charity. The dwge res the aTh)ts payat4e by the carity to the fund Indwr• ¥(knnIStered fvTrJ. of deflned benefft Fenson Flans and other F(tst-empk)wt teffts are determln&J using luture sdary inueases. Th)rtalty rates and future F)n weases. Due to the oxnplexity of the valuation. the undeflww assiNTpIK and the lcry-temi nthre of trE5e plws. suth estimat85 are subJ&X to rxfKant ut#xtanty. Furlher detaAs we given in 22. -18-
SIM INTERNATIONAL (UK) (A Company limited by guarantse. No." 00611250) (Charlty No: 219763) NOTES TO THE FINANCIAL STATEMENTS (COPfflNUED FOR THE YEAR ENDED 30 SEPTEIABER 2025 ACCOUIITING P¢XICIES (cofitirnwd) 2.6 Expondlttwe bBnefit to a IPard pwty. it is probaNe that a trarth of e(xmmic teneffts will be required in settlement and the arThJunt of the oblogati) can be rrwLred reliaW. Exp8ndtttJre is dasslfied by acoty. Th& o)sts of eth vIty arg made of the tot of dir&a casts shared costs. on the basbs ofllme 8penL and depr&lon dwy8s alIcal on the rtic of the as8et's use. date: 17 Tanglblg fixed ass•ts and d•wKlation indlc8t& thal the ranylry value ofany asset reLx)verable. Shortfalls betrhwn and eX[d]lure )Jl to all assets lthin the gr. Depr8(lac L8 atrat8SCaaHatedtol1te off the cxjst Off& assets.18SS tw estimateii resldual value, overtsroxtAed usaful Ilves the frAkAj bases: Leasehold propety Office Eqiupt yea 25% (rwjucary balan(% basis) 19-
SIM INTERNATIONAL (UK) (A Company limited by guarantse. No: 00611250) (Charlty No: 219763) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025 AccouHfiNG POUCIES Al Intanglt4e fixed assets we irHtiaMy re¢cthd at o)st VAT fiere apklk)lel. A recoJnilion. undw cost rrrxlel. iaJe assets are nlTh1 at o)st less any accumulated 2.8 Operlng leases line basls over the lèase 2.9 Fryed Inv•slTr Fixed inveslments a form of bawc financi Nnt Aji fistad Inv8Stmwrts are Izrried at theirfairvaue. Ll¥J trNes1 in wjuitles fi1 intt swili95 are all traded in quo ¢(¥nnieS are at bij PTi(. The basls of fairvalu8 for qij Invgsints is equiwdlent to market gains WKI losses are tthen to the Statem1 of Fjnandd AdNibes as they orise. Unrealised gains and losses ara (lllated as the differ b9rn9n tha far Wdlue al tho year end and their gains duiirvj the yw. 2.9 CuThent Inveslm• purFX)ses. lfrt have a mati¥ity date less than 12 frcyn the yew end. Proffts on sale of prom arKI Investi are ry1ed to fv Statement of Flnandel Acllvltles on a rec8ivaAe basis. Investrne ar8 In thè Balanc8 Sheet at thelr market value. and Z11 Delors 2.12 Cash at bank and In hand maturfty fTM)nts c less from the dats of or of the deposit or similar
SIM IKfERNATIONAL (UK) (A Company limlted by guaranteo. No; 00611250) {Charlty No: 219763) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025 AccouKfTr4G POUCIES IcontlNnd) 2.13 Uabillllos and yovlskn Liabilities are reccwlwj when I1$ • otligalxxi at th? Balarn¥ sheet date a5 a re8U a past el it is Late Ihat a transfw befft VAI be requireil in selt1ent. and the the anttcipates tt will pay lo setue thè debt or the Tnt il has re1V& as wJvanc&J 2.14 Cortkngent I1110 a•Mts sten(8 will ¢Jnly t lnfiThnt by the (Krxwrw or othervA of urKertaln futwe events. not wthdly wilhin the (ontrc4 ofthe tharlty. Contln5Vrt liAilles also aiise in drr#Jmnc8s vther8 8 exlstenc8 vill ¢ty by the cxXxTh Oth8plse ofun(wlakn futtwe events not IlY wilhin tho o)ntrol of the tharity. 2.15 FlTrandal Instrunwnts cknrfty (¥ty has financ4a as arNJ firAvxaal liabi1Sks ofa klrd th81 bafinaaa1 subw]uenty [rsred at %t11t value Is thelr o)st thè exw11 of fad ass9ts and InthJibb fixed assets wtii¢h are re(xyded at dep)3tl tis11?1 In athlilion. Investments are regnised at fw val. lh8 Maet 4JlSt of investm and their market value (tirvJ fair value) are (ésc&wd In note 12. 2.16 Golng Gorw The ac£ounts have boen rry)ared on a ccdwn basis as the Tnjee8 trAlr8ve that no material wKortainli8s exlst The hove ttsed tl level of fiJTrJs herd and the It of expe¢Aed income and exwwJilure fur the 12 rnrths fr[ ts dale of signtng accounts 8tatemw In aFWylng th8 mpS a(untI¥j kKdbies, ts threctrrfs are rg]LKad to make ju(kJements, eslimates and assunwtwxs In detemilnlng the carryirvJ wrKxmls of assets and liabililles. The factors that 8r8 wlied to t aFPlN3b. Lk* to the sutyedivity Invdvgj in mak -21-
SIM INTERNATIONAL (UK) IA Company limited by guarantee. No: 00611250> (Charlty No: 219763) NOTES TO THE FINANCIAL STATEMEKrs {coKnNUED) FOR THE YEAR ENOED 30 SEPTEMBER 2025 2.18 TaxaUoTr ¢apltal galns Ned the by Chapter 3 art 11 of the C0rrMti Tax Ad2010 CY Seth1256 ofthe Taxatkm ofth8 CW8at48 Gakns Act 1w2. tott* ex1 ttwt such IrT or gains are aF911 exdwely to d)arilabl6 wtrmxes. DONATIOIIS DtiS fr Missionaries 1.521 7.524 3,522,153 3.531.198 28516 37,376 359,761 425,653 DOnal1L Mir#sty Unrestiided 253.015 253.016 2.498 288274 4(900 4.137,427 4.470.601 2024 DOnati(S for Missh)naries DMallc4)s for 3,222.488 3.222.488 523,457 197,935 197.935 Ministy Z31.456 231.456 231A56 3,943,880 175338
SIM INTERNATIONAL (UK) (A Company Ilmlted by guarantse. No: 00611250) (Charlty No: 219763) NOTES TO THE FINANCIAL STATEMENTS {COPlflNUED) FOR THE YEAR ENDED 30 SEPTEAIBER 2025 Totsl 2025 44.287 45.696 45, 89,963 Totsl Gain on repaYrn of k> 1¥2,n4 12,774 SURPLUS FOR THE YEAR 2025 (Lossy Gain (m exch 1,710 12.644 <11.17) 13.848 710 AMorlisa0n of inible A8sets Cwating Lease Rentsls on 9]ulwl Curr&tt year AAJdilrKs' ranxrwalM)n (mG VAT)- axlit 21.5 20.1fKI 15P12 CuThent year ArtS. renxmrakn (inc VAT)- a11
SIM INTERNATIONAL (UK) (A Company lim)t•d by guarante•. No: 00611250) (Charlty No: 219763) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025 Dire< Support Total 2025 (nats n 2Q347 2.931.tA7 236.372 101. 3.032.120 236.372 387,924 669.576 261,929 MINsty 63S.892 194.561 IAL4xlisabon 67,368 4A63,3 224.561 4,587,921 4263.360 250.908 4614.268 Anatysis of Tr(lUTe ty athlty- wlor ye (note 7) Cc6t of raising fuThJ8 21J24 21.924 Charltabl• aclmlkn: Missionary supwt Member cwe Ministy 3.032.988 286.115 326,893 76.717 3,109.705 286.115 343.942 764.376 235,869 17,049 25.572 51,144 184,725 50.525 170,482 4740.007 4.569.525 192.406 4761.931 servlng ove&7S In ts UIQ care induth the costs irKwrr&Y by the UK offic in supwrb a mlswiary. The o)sts of SIM UK gJppc¥UTrJ wafic glotAI mlnlstries are Induded under Mlnlstrtes. thv costs (Jf wxfic SIM UK Iaied5 uThJer Pr*s, aThl cAts ruirred in sweathThJ the vision. Expenditure Fndudes £437.365 from restrIc funts {2024: £482.5721. £89,720 from designa nd5 (2024: £28.382), £4,087.184 (2W24: £4).9T4frThn reslrttsd fijnds £NIL (2024: £NIL) -24-
SIM INTERNATIONAL (UK)
(A Company limited by guarantse. No: 00611250)
(Charity No: 219763)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
SUPPORT COSTS
12.539
23.710
24,gJO
1787
5.269
5.533 8.SXI
4, 6,685
4,411
6,817
4,179
8.358 27,863
15.807 79.036
16.800 55.333
13,369 44,5e4
13.234
44.112
Offlcè MinIstratln
Finance
19,850
Total
26.347
1IX.053
67.366 250.908
Total
9.752
8,467
21,856
16,797
19.845
2.167
3251
1,882 2,822
4,857
3,733
4.410
6.1
21,871
5.644 40.739
14.571 48,569
11,198
37.327
13Z30 44,100
21.924
Finan
6.615
Total
21824
7&717
17.049 25,572
51,144 192.406
Total
2024
Current year AL)Jftors' remun8rakn (MCVAT). audit
Prlor yur NlIc
SIM INTERNATIONAL (UK) (A Company Ilmltod by guarantse. No: 00611250) (Charlty No: 219763) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025 2024 Waps and salaries 534.163 55.216 59. 481.076 38.844 54,954 574,874 Tho average nrtOf pers 8nwo51 by the drity year was as follcw•B: Man•jefft MobHisat 10 and Fensk4) was £247,32512024: £le.793). No Trustse l VAS 9MF4oy the Five Tnjstees l Dtrectsjrs dawned £2.418 Bo¥d travel & (rfng eypens6s in ts year (2024: £1,430).
SIM IKfERNATIONAL (UK) (A Company limited by guarantse. No: 00611250) {Charfty No: 219763) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025 10. TANG18LE FIXED ASSETS Fveehold At 1 Ckther 2024 621.733 14.446 8.335 6.402 644,514 14737 0,916 At 1 O¢clw 2024 Charge frx tho year 24.870 12.435 4.401 209 15,148 At 30 Soptember 2tr25 4610 141 N•1 book vth At 30 S•ptembw 202S 7,511 fyM.775 At 30 Septwnbw 2024 596,863 10.045 3,613 610,521 The ch was gSft&l a f1eetrbd Juty 2024 wlth tents in sltu under a Ilfetim8 tenants require eJxJJFWCy and formal Vdluation has bean gjught aThJ no value has b8en recryJnLwJ kn tlJ058 fmanti statements. The proFwty was Valu * th8 Om8 0ftr?fQr fof knSUran rel11 at £ 304.323. 11. INTANGIBLE FIXED ASSETS At 1 CK(knr 2024 28.384 28,384 (28.384) {28.384) At 30 Sopt•nknr 2025 At 1 Odobef 2024 Charge frK thè On Dispjsas 26253 26.253 (26.253) (26.2531 At 30 &pt•nthr 2025 Not book valuo At 30 2025 Z131 2.131
SIM INTERNATIONAL (UK) (A Company limitod by guararrtee. No: 00611250) (Charlty No: 219763) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025 12. 2024 Unllsted Inveslm 838,193 704.510 Inve51mwts Sales & mabJrlll8s lthreali¥ed gari I (loss) 30,655 57.438 158,069 At 30 S•pt•nl*r 2LY25 1.500.672 792,603 1304,076 1.630.796 £559,8% <2024: £559.896). 13. DEBTORS 2024 Due from Olher SIM offitss 236,120 120, 17,732 23,862 68,276 31.732 8.855 92,334 Mlssionaiies, Pers( (see Th)te 171 201.197 1& CURRENT ASSET INVESTMEpirs 2024 Cash dep118 1279.1137 1,266,469
SIM INTERNATIONAL (UK) (A Company Ilmited by guarnntee. No: 006112 (Charlty No= 219763) NOTES TO THE FINANCIAL STATEMENTS (coKnMUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025 15. CASH AT BANK AND Thl HAND 2025 2024 Cash In hw#J 91,950 148.495 1,489,638 1.63Q133 1& CIIEDITORS 2024 61.fA6 43.918 Du8 to other SIM offices Taxatlon & Sc(a Other Cr&Jllors MISnarfe¥ PerscThl Fun(b (see 171 122,725 51,123 13,4S1 285.580 90218 14.395 182.627 28,2 Penskm DefKIt (see Th)ts 22} Pension Dii (see rth 22) Balance atlhe begirnty of tho year 276.725 942.711 202.950 1.(5,171 1219.436 1,268.121 11.054.541) {991.} BalaTr al tho Ond of the 164.895 276,ns Mlssicnaries, Pers(1 Fur¥ts- DdJtors- 13 (17,732) 182.627 (8,855) 285,580 Balan at •nd dtho year 161895 27Q725
SIM INTERNATIONAL (UK) IA Company Ilmhed by guar3nt••. No= 00611250) (Charity No: 219763) NOTES TO THE FINANCIAL STATEMENTS (coKllNUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025 18. STATEMEKf OF FUNDS STATEME1 OF FUNDS . CURREKf YEAR 2024 {expendlture} (lotses) Inl {outl 2025 G?1 fund Strategy fuTKS Asset fijnd 743,463 1.076, 507,482 15225 1&8,C (3.C*)3) 913,694 1.076.022 492,333 {12.645) (2,SM) 1326.967 1580 15&565 (3m3) 2A82,049 (44.819) 761.973 D1 fund 193.645 18&015) 104.630 Restrfclod funds 8S9.972 599.774 328.181 {272,518) (17.237) 109.315 1.169.916 436,571 1.458,746 1,606,487 Tolal of fimds 4786,1 13.424 155.565 4W139 STATEMEKf OF FUNDS. PRIOR YEAR Incom• l GaIn Transf 30 Sgptember 2023 (•xFxIIturej (losses) Inl (0) 2024 General fund Stratsgy ftrxl Aet (14.772) 57.438 247 743,463 1,076.022 S07,482 1.rxJ9.136 {14,55n 2231.n5 34,475 3.329 2.326.967 1>osignatgd funds Designated fv 82&388 (28.382) 6.786 Endowment fibnd DtrI fuThJ 193.645 193.645 (91,7) (215.221) (38.123) 858.972 599,774 786,987 1,774832 (30&971) (10.115) 1h58,748 Total of 4029. (300.878) sr,438 4.786.150
SIM INTERNATIONAL (UK) IA Company Ilmlted by guarantoe. No: 00611250) {Charlty No: 219763) NOTES TO THE FINANCIAL STATEMEtrWS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025 I& STATEMEKf OF FUNDS (contknwd) The A58et Is knV8st1 in fed assets wwj wWip¥t and refi¢¢ts th8 not bc#Jk value of the Mlssion Mern IludeS £249.$93 (3)24.' £242.807) in resp d dIsGret1cry charity makes to retlred FWS¢)nnel vtho beffft 1 Cktobw 1984 to aUgt partslons arKI ctharity aims to wound 6 of costs in th8 Gwwal Fund. The yw 8TrJ IraferS from PAsslonary SuFWt to the Prc4eds on v(al Trnithg for Women at Risk a1 Addidion RaY to SUFWt wclect exFWKltura. The £89.015 transfers fr(n Ihe hdd in profiect fvr¥Js the sw wrposes of Ihg Trinity Dental Cllnic aThd Training Centrg, Liteda. -31-
SIM INTERNATIONAL {UK) (A Company Ilmlted by guarantse. No: 00611250) (Charlty No: 219763) NOTES TO THE FINANCIAL STATEMENTS (COKnNUED} FOR THE YEAR ENDED 30 SEPTEhlBER 2025 Fund8 Funds Fwmls T¢Aal Funds T8SYitAe FLYWJ Assets Inlangible Fix&J 1.7T5 601,775 1199,H6 79.246 (393.596) (4.8221 lo4. 2,304.076 2.447.706 (393.596) 14.822} CuFfgnt Assets Current LFabililies g Temi Llat¥lld8s 761.973 1..487 2A81049 761,973 1,606,487 104630 4,955,139 FuThls Funds Funds Fund8 Trtal Funds Tar¥Jible Fkxed Ass•ts Intangible Fixed Assets 810,$21 2.131 1.437.151 840,261 81x.712 1.458.746 (563.09n 610.521 2.131 193.645 1.630.796 3.105,799 (563.097) Current ets Cwrent Uabilttks Lg Te &tilities 1326,967 81R792 1A*746 193.645 4.786.150 RECONCIUATION OF NEf MOVE IN FUNDS TO T CASH FL(Y•V FROM OPERATING ACTMTIES 2024 Nat IlrAsy kKxrfne 168.989 (243.440) 15.148 (26.253) {158.() 13.848 710 (57,438) {n) I loss on rnvestrrwts ActLWi81 (galnsy dnl t. (89.W) 1275,808) {86.355 (192,774) 383,195 (137.307) Demse l (InL¥ease) in debt5 lu8•d In) Opfdllw acllvl (452J12} (233,206)
SIM INTERNATIONAL (UIQ (A Company lirnited by guarantsa. No: IJ0611250) (Charlty No: 219763) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEIABER 2025 21. ANALYSIS OF CHANGES IN NEf DEBT 30 Septsmber 2025 Cash at bank a1 in Cash de[118 matu[tr < 12 nK 15 14 12 1,638.133 1.266.469 838.193 (868,194) 12.618 134,789) 769.939 1279.087 3,742,795 I1,36• 2.852A30 assets of tre frc¥n ttwo of th8 tharity in an Indwndenty the and anb)unted to £3,395 (2024: £4.930). ccli1xrtth totaillng £8,326 {2024: £1.633) the LM<. It is not for the to obtawi suffidart lnfCffl to enabl8 tt to ac(£unt The charity has 1 maythr (2024 - 1) the s( and 1 {2024: 11. The A¢ingent Ilability has l)M thsdos kn relionlx)the liaLlltyon ts mentslea¥kng the srtherne. so9 note 24. The SC is subjéct to Ihe fijnding legslalh)n IlIned In the Penskffis Act 2rAM tame and Tethniral Acknrlal Standar(ts iswwl by th8 Fhwcial Re%1j C(xud. set (Art the F0tsnt ItIe for other patbipatlng ernpk)ye otllgakn rf IJy)5e wrpknyers are unabb8 to nrdoyers aTe1gJo1ty rred to m88t thetr shaTE of lh6 s(kn defiot C an arlty pwchase sho*Bd assets of£514.9m, fBbdittes of£531.Om a defidt of£16.1m. To eliminatethlsfunding schenw as foFlry•VS: Fr(m 1 A11 2025 to 31 Marth 2028: £2.1.( per (payable TrKthty)
SIM INTERNATIONAL (UK) (A Company Ilmlted by guarantoo. No: 00611250) (Charity No: 219763) NOTES TO THE FINANCIAL STATEMENTS (CONMNUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025 From 1 2019 to 30 Septrt 2025: r3.311(IXJ (paya18 nThlNy) arrarwnent the UJMptY re(£xJ)iws a liabilFty for this otrAigabon. The affK)unt recognised is n8t Ffesent vaiue of fv drfvit redOn lbul payat48 WKlor tha 4raem8nt that relates to de)IciL Th8 presentvalue is calculated using ts (AsuMnt rato detailed inttrwe dix40sures. 2025 2023 1.633 RECONCIUATION OF OPENING CLOSING PROVISIONS PrOvIsk at start UnwindirvJ crf th& diso)Wbt (kntere eypww) Deficit clbul paid 1,633 (21 3951 85 10.IJ)5 6,345 217 (4.930) P$]n * the w¥J ofthe pwk¥J 8.326 1.633 INCOME A)ID EXPENDMJRE IMPACT 30 Soptththr 30 Septernr 21f25 2024 {21 10.(K>5 9,937 10,764
SIM INTERNATIONAL (UK) {A Company limited by guarnntee. No: IM1611250) (Chartty No: 219763) NOTES TO THE FINANCIAL STATEIIENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025 2Z PENSION COMhirrMEiifs (contlnuod) ASSUMPTIONS 2025 2024 2023 % per •nnum Rats of di))unt 4.3Yh 524% 5.88% DEFICIT COP4TRIBLrnONS SCFEDULE Yw Endng Year 1 Year 2 Year 3 Year 4 YearS-3) 4,930 1.752 whlth tt arises. ijsdosed note 16. At J) septnt 2025 ts Ctrwrty a IxmJrwt liatAIty in re[alk b th8 defd benefft tharfty receivgj an estimat6 ofthe buy<xrt fTLxn the pensm provhjer whith was quoted at £35,086 as at 30 SeptemLw 2024 {£35.086 as at 30 September 2024). In Cxober 2021. the Trustees set aslde a des3na1ed tsKI to (x)vw the tentIal Ilabluty.
SIM INTERNATIONAL (UK) (A Company1Smlted by guarantee. No: 00611250) {Charlty No= 219763) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025 LE&8EE: CK£llable coerating kases 4fdS: 2024 Equlwm Wrthin 1 yar 8elwi 1 and 5 years 3.097 3,097 There no #1 lfflnkn as at Ihe 30 2025 (2024: £NIL DlThJ the year 5Trustees {2024: 5)ve Q4(Y3 (2024: £4.699)oleY¥W rdating to travd, aCcTalk and casts. In 1 Tr (2024: 1) rwxived £12,216 {2024: £25.1521 fcy nxfflthly fbAro exFaWS In relakn to thdr role as a SIM member. Tnjstee exSe$ tsrred In elther 2025 CY 2024.
SIM INTERNATIONAL (UK) (A Company Ilmited by guarantse. No: 00611250) {Charity No: 219763) NOTES TO THE FINANCIAL STATEMEKfs (CONTINUED) FOR THE YEAR ENDED 30 SEFYfEMBER 2025 Funds Funds Fun Funds Totsl INCOME FROM Z31,456 89,217 192,774 3.943M) - 4.175.336 89,343 192.TT4 Legacres Investments TOTAL INCIXE 517.047 . 1944006 . 4,461,053 EXPEMDrruRe ON Rasw¥J fvnds 21,924 460.648 28.382 4.250.977 21.924 - 4.740JJ07 TOTAL EXPENDMJRE &7 4.761,931 NEf IEXPENDrrvRev INCOME BEFORE INVESTMENTS GAINSI(LOSSES) 3V75 (28,3821 (30Q971) (300.878) Net galns l (losses) 57,438 fijnds (10.115) NET MOVEMENT IN FUNOS 95342 (21.W (317.086) (243,440) RECONCIUATION OF FUNDS: TOTAL FUNDS BROUGHT FORWARD 18 2.231.725 828.388 1.775.832 193.645 5.029.590 TOTAL FUNDS CARRIED FORWARD 18 2.326.967 806.792 1A56.746 1WJ,645 4786.1 -37-