SCOrnSH CHARrrY NUMBER: SC041126 STEADFAsf GLOBAL TRusfEES REPORT AND ACCOUNTS FOR THE YEAR ENDED 28 FEBRUARY 2025
srEADFASt GLOBAL TRuEEs REPORT AND ACCOUNTS FOR THE YEAR ENDED 28 FEBRUARY 2025 CONTENTS Page Trustees Rewrt Recelpts and Payments Account Statement of Balan5 Notes to the Accounts Independent Examiner's Report io
srEADFAsf GLOBAL TRUSTEES REPORT FOR THE YEAR ENDED 28 FEBRUARY 2025 REFERENCE AND ADMINISTRATION DEfAILS Scottlsh Charlty Number: SC041126 Current trustees: Contact address: PO Box 9937 Stornoway Isle of Lewis HSI 9AA SrRucfUR GOVERNANCE AND MANAGEMENT Governirbg document Steadfast Global is an unincorporated asscciation and is operated undef the terms of its ConstUt10n. SteadFast Global was registered as a charity on 16 December 2009 and was also launched in 2009. Récruitment and appointmgnt of trustees The management of the charity 15 the responsibility of the trustees who are elected or re-elected under the temig of the constitution by the members of the charity. Trustees comprise a minimum of a Chairman, Secretary and Treasurer but may be increased to a maximum of seven, all of whom should be United Kingdom residents. Trustees rve for a temi of three year5 which 15 renewable by mutual consent. The day to day QFerati)ns of Steadfast Gbtel are undertaken b who is the Diwector of the rnission and Chairman of the Board of Trustees. vorks closeli with Lhe Board of Trustees who ffleet a rninimum of three titne5 each year to approve annual buikjets, and exFenditure/accounts, project proposals and othei matters outslde the day-to-day running of the charity. OBJECtIVES AND AcnvmES Charltable purposes The objects of the Charity are the promob'on and advancement of the ChrEtian faith 3nd religious freedom, and the relief of hardship, distre55 and pKsvety of Christians Wheth domiciled in the United Kingdom or elsewhere in the world that are being persecuted as a Consequen of their relrgious beliefs. Page I
srEADFAST GLOBAL TRusfEES REPORT FOR THE YEAR ENDED 28 FEBRUARY 2025 OBJEcfivES AND ACVITIEs (Contd) Summary of main activities steadfast Global is an evangelical Christian Mission and reglstered charity that seeks to build a bridge betw&n the Church in Scotland and rseCUted Christians across the globe. We are non-denominational and funded entirely by donations from indivldual supporters, churches and other interested organisations and trusts. Our purposes can summed up under thr main headings.. Encouraging.. Christians who suffer for their faith by demonstrating steadfast love and concern through regular contact and visits to areas impacted by Violen or the threat of violence. We encourage prayerful and prattical support from Christians across Scotland through frequent speaking engagements and information sesstons. Equipwng.. Persecuted Christians through the development of meaningfLtI projects which are designed to empower, promote equality and restore dignity without creating dependency. We also equip Scottish Christians with the necessèry tools to enable infomied prayer, solidarity and interartion with and on behalf of persecuted Christians. Engaging.. with persecuted Christians by entering into strategic partnerships with other Christian agencies and like-minded missions, in order to ensure a trustrlorthy and verified Stream of current infomiation on matters of persecution and religious freedom. We are currently able to facilitste projects and invest in the lives of individual Christians and Christian fellowships across East Africa, West Africa, North Africa, Eurasia, the Middle-East, Central Asia and South Asia, through strateg partnerships with a number of like-minded mission agencies both here in the United Kingdom and overseas. ACHIEVEMENTS AND PERFORMANCE Summary of main achlevements The generous partnership of our 511PPOrters across Scotland and beyond allowed us to continue resourcing and developing initiatives across many of the nations, where living as a Christian routinely lead5 to persecution and harassment. As a ministry team, we are greatly encouraged to see that over £89,055 was disbursed this year to facilitste overseas proiecLs. During this reportir¢g period our efforts to secLFre asylum for the persecuted Masih family continued through engagement witt) both the UK Home offi Community Sponsorship team and also UNHCR representstives. We continue to provide a place of safety for the family while they apply for asylum through the UNHCR offitr in the country where they are located. The amount of £45,000 which was raised to facilitste their relocation and meet the anticipated cost for the first year irs the country granting them asylum, continues to be restricted for use once they are granted asylum. Once again during this reporting period we received a generous £5,000 grant from the Souter Trtjst, IOOQ/o of which went to supporting an initiative in Pakistan focussing on victims of forced marriage and sexual violence. The generosity of our 5UPP)rters also enabled the disbursement of £9,350 across four nations during our annual Christmas Blessing project. Our various projects in Central Asia continue to empower Christians as they serve in difficult circumstances. This year we were able to continue facilitating retreat events for persecuted Christian women as well as provide resources to Christian ministry leaders serving in their marginalised communities. Our work in South Asia also continues with resources provided to enable income generating activities as well as ongoing training and re50urcing of ministry workers. During this reporting period, £2,500 was also directed to partners in Nigeria for the care of Christians recovering from incidents of persecution. Details of our wider international expenditure during the reporting period can be found in the following financial statement. Page 2
STEADFAST GLOBAL TRUSTEES REPORT FOR THE YEAR ENDED 28 FEBRUARY 2025 ACHIEVEMENT5 AND PERFORMANCE (contd) Summary of maFll achievements (contd) The Board of Trust5 remain exEremely encouraged by the remarkable generosity of our supwters. God's bless1 and his provlsDn of steadfast partners both at home and abroad, has contributed to our continued growth, and t many other positive developments during this pefiod. In Summary, the 2024125 reportirKJ k*rtod was another year of growth for Steadfast Global. With a sense of thanksgiving to God and in dependen un him, we look fornard to the next tmelve months, during which we expect to continue the core work of our ministry, which is to encourage and equip Christvans enduring Fersecution in some of the nThJst hostile places on earth. FINANCIAL REVIEW During the year the charity received Income of £145,18212024 - £183,407) from individuals, trusts and thUgh the sale of books, merchandise and fundTrising events. The areas of expEndItU were simiLir to the previous pericx1- the support of various grovps of Christians suffering per5ecub.on throughout the world, the costs of proclucing newsletters and travelling to speaking engagements in order to increase the profi of the charity and keep various donators informed of the test developments Conrning persecuted ChrtianS throughout the world. In addition, the Charity was able to employ a full-tirr worker. The expenditure during the year was £132,888 (2024 - £167,612). This resulted in a surplus for the year of £12,294 (2024 - Surplus of £15,795). ReseNes policy The unrestrirted funds of the charity which the Trustees are free to use to meet the objettives of the tharity had balance of £44,521 at the 28 Fetfuary 2025 (2024 - £69,706). Of these funds E24,961 has been designated by the trustees for projects in Iraq and Eurasia. The trustees consider that the level of free reserves in unrestricted fund5 15 sufficient to meet Ihe charity'5 ongoing 9ratiOnal requirements and enable the charity to continue with Its ttNities for the forthcomin9 year. In addition to ullre5tricted funds charity held restricled funds of £1,000 relating to funding for a Development Manager post, £45,000 relating to Pakistan Projects, £9,953 relating to Central Asia projects and £8,922 rebting to Eurasia projects. Statement on Risk The Trustees assess the major risks to which the charity Is exFosed on ongoing basis and have established preduleS to mitigate those that are identified as a resu c( these remews. Approved by the Trijstees and signed on their behalf by.. Puge 3
srEADFAsf GLOBAL RECEIPTS AND PAYMENTS ACCOUNT FOR THE YEAR ENDED 28 FEBRUARY 2025 2025 2025 2025 2024 Unrestricted funds Restricted funds Total funds Total funds Receipts Donation5 Donation - Voice of the Martyrs Canada Tax recovered on Gift Aid Grants Gross receipts from other charitsble artivities Income from investments 90,192 6,580 96,772 126,322 5,000 4,492 33,181 38,181 4,492 5,000 51,424 5,143 Note 2 5,000 Note 3 Note 4 737 737 518 Total recelpts Note I 100,421 44,761 145,182 183,407 Payments Payments relating directly to charitable activities Note 5 42,213 89,055 131,268 167,612 Governance costs: Independent examination 1,620 1,620 Note I 43,833 89,055 132,888 167,612 Payments relatlng to a$set and Investment movements Purchase of Offi and computer equipment Total payments 43,833 89,055 132,888 167,612 Net re¢eiptsl(payments) 56,588 (44,294) 11294 15,795 Transfers tol(from) funds (81,773) 81,773 Surplusl(deficlt) for year (25.185) 37,479 12,294 15,795 Page 4
srEADFAST GLOBAL srATEMENT OF BALANCES AS AT 28 FEBRUARY 20Z5 2025 Unrestricted funds 2025 Restricted funds 2025 Total funds 2024 Total Funds Bank and cash in hand onIng balances 69.706 27,396 97,102 81.307 &Jrplus/{deficit) for year (25,185) 37,479 12,294 15.795 aosing balances 44.521 64,875 109,396 97,102 Reserves General fund 19,560 19,56Q 44,745 Designated funds 24,961 24,961 24,961 Restrlcted funds 64,875 64,875 27,396 Closing balances 44,521 64,875 109,396 97,102 Other assets offi and compuler equlpment- at cost Stock 4,000 360 4,000 360 4,000 360 4,360 4,360 4,360 Llabllltle$ Credltors Pa¥e 5
STEADFAsf GLOBAL NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 28 FEBRUARY 2025 l. Movement In Funds AtIMar 2024 At 28 Feb 2025 Receipts Payments Transfers Unrestricted Funds General FLFnd 44,745 100,421 43,833 (81,773) 19,560 Designated funds: Iraq Building Project Iraq Relief Work Ethiopia Pmjects Fund Eurasia Projects Fund India Projects Fund 24,278 24,278 683 683 Total Unrestrlcted Funds 100 421 Restrlrted Funds India Projects Fund Central Asia Projects Fund Ethiopia Projects Fund Nigeria Projects Fund Pakistan Projects Fund Eurasia Projects Fund Iraq Projects Fund Hope Christmas Bless. Fund Development Manager Fund 8,217 500 17,562 2,500 45,604 986 5,186 8,500 8,217 10,453 15.152 200 6,234 7,602 1,060 4,060 9,953 1410 l300 60,280 24,090 1306 45,000 8,922 4,126 4,440 1,000 1,000 Total Restricted Funds 27,396 44,761 89,055 81,773 64,875 Nature and purpose of funds Unrestricted funds General Fund the general fund represents unrestricted funds which the trustees are fr to use in accordan with the charitable objects. Dwnated funds." Iraq Building Project: funds designated to rehouse displa Christians in Northem Iraq. Iraq Relief Work: funds designated for Iraq relief work. Ethlopia Projects Fund: funds desionated for projects in Ethiopia. Eurasia Projetts Fund: funds designated for projects in Eurasia. India Projects Fund funds designated for projects in India. Page 6
STEADFAST GLOBAL NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 28 FEBRUARY 2025 l. Movement in Funds (contd.) Nature and purpose of funds (contd.) Restricted funds India Projects Fund: represents funds received to be specificalty used for projects in India. All specific funds received for this project have been disbursed during the year. Central Asia Projects Fur.. represents funds received to be SFecificalty used for projects in the Central Asia area. Ethiopia Projects Fund: represents funds received to be specifically used for the Ethiopian micro-loan and various other projects in Ethiopia. Nigeria Projects Fund,, presents funds weived to be s1T[callY used for projects in Nigeria Pakistsn Projects Fund.. Psents funds received to be specifically used for projects in Pakistan Eurasia Projects Fund: represents funds received to be specifically used for projects In Eurasia Iraq Projects Fund: represents funds received to be SFecifically used for projects in Iraq Hope Christmas Blessing Fund: represents funds received to be sFecifically used for issuing Christmas Blessing parcels in various countrie5 where there is Particular need Development Manager Fund.. represents funds received to be slTicallY used for the funding of development manager post. 2. Grants Unrestricted funds Restrlrted funds 2025 Totsl 2024 Total The Souter Charitable Trust 5,000 5,000 5,000 5,000 3. Gross recelpts from other charitable activities Unrestrirted Restricted funds funds 2025 Total 2024 Total Book sales Pa¥e 7
srEADFAsf GLOBAL NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 28 FEBRUARY 2025 4. Income from Investments Unrestricted Restrfcted funds funds 2025 Total 2024 Total Bank account interest 737 737 518 5. Payments relating directly to tharitable activities Unrestrlcted Restrlcted funds funds 2025 Total 2024 Total Wages and Pension Book Purchases Travel Costs Insurance Postage Stationery Advertising Printing Web Page Telephone and internet Training Subscriptions Gifts and donations Bank Charges General Charges 29,306 29,306 27,633 5,239 510 3,080 220 14,012 19,251 510 3,080 220 16,512 2.868 218 1,959 91 741 1,959 91 741 2,246 250 700 429 429 75,043 638 353 116,114 703 15 Note 6 75,043 638 41213 89,055 131,268 167,612 6. Gifts and Donations Unrestricted funds Restricted funds 2025 Total 2024 Total Central Asia Projects Ethiopia Project India Project Iraq Projects Eurasia Projects Middle East Projects Nigeria Project Hope Christmas Blessing Pakistsn Project Other Gifts 500 15,381 6,611 1.503 986 500 15,381 6,611 1,503 986 14,206 10,380 6,743 1,000 38,635 2,500 9,350 38,212 2,500 9,350 38,212 12,630 11474 18,133 1,913 75,043 75,043 116,114 Page 8
srEADFAsf GLOBAL NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 28 FEBRUARY 2025 7. Trustees remuneratlon and expenses Trustees have not received any remuneration in respect of their role a5 trustees during the year ended 28 February 2025. Wages costs totalling £29,306 We paid to an empk¢yee of the charity who Is also a trustee, as agreed by the Charity Trustees. Trustees. Expenses During the year one trustee was 1Mbr$ed £19,251 of travel and subsistence exFenses incurred in the course of fulfilling the charities stated mission and purposes. These expenses were incurred in fulfilling various speaking engagements throughout Scotland in order to increase public awareness of the work of the charity as well as some international travel to meet with various mission partners. Page 9
INDEPENDENf EXAMINER'S REPORTTO THE TRusfEES OF srEADFAST GLOBAL report on the accounts of the charity for the year eTrJed 28 February 2025 which are Set (Kjt on pages four to nine. Respective responsibilities of trnstees and exambner The charity's trustees are responsible for the preparation of the accounts in accordance with the terms of the aritie5 and Trustee Investment (Scotland) Act 2005 and the CharitEs Accounts (Scotland) Regulations 2006. The charity'5 trustees consider that the audit requirement of Regulation 10{I)(d) of the 2006 Accounts Regulations doe5 ngt apply, It is my resF¥)nsibility to examine the accounts as required under section ÈM(I)(c} of the Act and to state whether particular matters have come to my attention, Basls of Independent examinerfs Statement Ny examlnatlon Is carrled out In aCcOrdae with ReguLatitsn I l of the 2006 Accounts RegulatiC5. An examination Includes a review of accountlng records kepr by the charlty and a comparison of the accounts presented with those records. It also includes conslderatlon of any unusual Iterns or disclosures in the accounts, and seeks expknations from the trust concerniryj any such matters. The PredureS undertaken do not provide all the evithnce that would be required in an audit, and consequently I do rt express an audfc oplnlon on the vlew given by the accounts. Independent examiner's statement In the course of my examination, no matter has come to my attention which gives me reasonable cause to believe that in ary material reSpt the requlrements.. to keep accounting records in accordance with Section 44(1)(a) of the 2005 Act and Regukition 4 of the 2c5 Accounts Regulations, and to prepare accounts whith accord with the accounting rrdS and com wlth Regulation 9 of the 2006 Accounts Regulab'ons have nct met, or 2. to which, in my opinion, attention should be drawn to be reached. Name: Relevant ProfessK)nal qualifKation/Frofe55ional bo(ty'. Address: CIE SÈI ViLt Chartered Accountants 63 Kenneth Street Stn9WaY Isle of LewLs HSL 2DS Date: Page 10