2025-12-31-accounts

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Company Registration 00949989

Charity number (England and Wales) 258421 Charity number (Scotland) SC042332

AGAPE MINISTRIES LIMITED

Report and Financial Statements

Year ended 31 December 2025

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AGAPE MINISTRIES LIMITED

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Company Information	1
Report of the Trustees	2
Independent Auditor's Report	12
Consolidated Statement of Financial Activities	16
Company Balance Sheet	17
Consolidated Balance Sheet	18
Statement of Consolidated Cash Flows	19
Notes to the Financial Statements	20
Statement of Financial Activities (comparative year)	40

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AGAPE MINISTRIES LIMITED

OTHER TRUSTEES

Rev Richard Boothroyd Mr Kevin Russell Miss Claudie Richardson (appointed 05/11/25) Mr Javier Garcia (ex officio) Mr Dermot Purcell (resigned 14/05/25) Mr Philip Knox (appointed 05/02/25)

NATIONAL DIRECTOR - Mrs Lesley Cheesman

REGISTERED OFFICE

167 Newhall Street Birmingham B3 1SW

BANK

Barclays Bank PLC Colmore Row PO Box 34 Birmingham B3 2BY

SOLICITORS

Anthony Collins Solicitors LLP 134 Edmund Street Birmingham B3 2ES

AUDITOR

Prime Chartered Accountants Charter House 161 Newhall Street Birmingham B3 1SW

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AGAPE MINISTRIES LIMITED

REPORT OF THE TRUSTEES

The trustees are pleased to present their report together with the financial statements of Agapé Ministries Ltd and its charitable subsidiary, Global Aid Network UK (together referred to as “the Group”) for the twelve months ending 31 December 2025. The Trustees’ Report includes the Directors’ Report as required under company law.

Reference and administrative information are set out on page 1 form part of this report. The financial statements comply with current statutory requirements, the Memorandum and Articles of Association and Statement of Recommended Practice – Accounting and Reporting by Charities.

Structure and Governance

Governing Document

The company is established under a Memorandum of Association which sets out its objects and powers as a charitable company and is governed under its articles of association.

The Trustees

The trustees, under charity legislation, have and accept ultimate responsibility for directing the affairs of the charity, and ensuring that it is solvent, well-run, and delivering the charitable outcomes for the benefit of the public for which it has been set up.

The trustees, who are also directors under company law, who served during the year and up to the date of this report are listed in page 1 of this report. Members (including trustees) of the Group guarantee to contribute an amount not exceeding £1 to the assets of the Group in the event of winding up. Agape Ministries is the only member of Global Aid Network UK (GAiN UK).

Trustees’ indemnity insurance (TII) of £1 million is provided as part of the comprehensive charity insurance policy purchased by Agapé UK. It is not possible to separately identify the cost of the TII element of this policy.

Appointment of Trustees

Application process and future training requirements for new and existing Trustees will continue to be reviewed on a regular basis.

Miss Claudie Richardson was appointed as a trustee in November 2025, having attended a previous board meeting in October 2025 as an observer.

Organisation

Agapé UK is a Christian organisation and part of Campus Crusade for Christ International. Although our main activities are national, operating in eight regions across the UK, we have workers in other countries around the world.

Agapé UK is overseen by its board of trustees known as the Council of Management (COM) which meets 4 to 5 times a year. Day to day organisation is delegated to an Executive Leadership Team (ELT) of four senior members who meet on a regular basis and have oversight of the whole organisation. Each ministry department is led by a Ministry Head who reports to the Field Director. Operations, Communications, and Leadership Development & Human Resources (LDHR) have infrastructural responsibility and are managed by the Central Services Director, together with leaders from each of these departments.

Management and governance of Agapé UK is delegated to the National Director who is accountable to the COM. Reports are submitted as required to Companies House and the Charity Commission.

GAiN UK was officially registered as an incorporated company on 8th November 2023 and as a charity on 15 December 2023 and is the charitable subsidiary of Agapé UK. GAiN UK is overseen by the Trustees who meet 3 to 4 times a year, with one of the Trustees being the National Director of Agapé UK. Day to day management and governance is delegated

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to the Managing Director of GAiN UK, who manages a small team of staff and volunteers to gather and distribute humanitarian aid, and communicate the needs of those suffering from humanitarian crises and poverty.

Systems are in place for line management, appraisal, member development, and supervision, together with grievance and complaints procedures across the Group.

Risk Management

During 2025, the risk management register was reviewed quarterly by the respective boards of trustees and they considered the implications of the risks identified. The Trustees also formed their own view on high impact risks, gave input to the process and ensured all appropriate measures were in place to manage these.

At the end of the year, the Trustees were satisfied that the major risks to the Group have been assessed and in particular those related to the governance, staff, strategy, finances, and operations, and are satisfied that systems are in place to mitigate exposure to these risks. Reporting procedures are in place to monitor income and expenditure. A key element in the management of financial risk is the setting of a reserves policy and its regular review.

The Group is aware of its responsibilities to manage risk and appreciates updated information on this matter from its solicitors and other professional advisors.

Responsibility of trustees

Company law requires the directors (who are the Trustees) to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the company and of the income or expenditure of the company for that period. In preparing those financial statements, the Trustees are required to select suitable accounting policies and then apply them consistently; make judgments and estimates that are reasonable and prudent; comply with applicable accounting standards subject to any material departures disclosed and explained in the financial statements; prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The Trustees are responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Statements as to disclosure of information to auditors

In accordance with Company Law, as the group’s trustees, we certify that:

So far as we are aware, there is no relevant audit information of which the Group’s Auditors are unaware; and
We have taken all the steps that we ought to have taken in order to make ourselves aware of any relevant audit information and to establish that the Group’s Auditors are aware of that information.

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Objectives and activities

Our Purpose

Our charity’s main purposes are set out in the objects contained in the company’s memorandum of association and include:

To transmit, propagate and communicate the Gospel of Jesus Christ to students and others at universities, colleges, schools and other academic institutions as well as to the public at large.
To help those who become Christians through receiving Jesus Christ to grow toward spiritual maturity and understanding and to train them to reach others with the gospel the objective being the fulfilment of the Great Commission of our Lord Jesus Christ as set out in Matthew 28:18-20 of the Holy Bible.
To help Christians to become established as active members of local churches and to work closely with churches of many denominations.
To relieve poverty or distress.

Our Vision

Agapé UK exists to help people discover Jesus together. Our vision is that every person will have the opportunity to discover Jesus and live their lives to the full in relationship with Him.

Our Values

We want to live radical lives of love, service and influence, following the model of how Jesus lived His life on earth. This is characterised by:

Faith – in God’s supremacy, filled with faith and the Holy Spirit

Unity – unified internally and building God’s Kingdom together with the wider body of Christ

Growth – committed to spiritual growth, both individually and corporately.

Fruitfulness – striving for effectiveness and relevance

Joy – enjoying God and His Kingdom

Our teams apply these values differently depending on whether they work in universities, workplaces, families, communities or cross-culturally, but these core values are fundamental for all of us.

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REPORT OF THE TRUSTEES

Our Mission

The strategies employed to meet our vision include the following:

Presenting the gospel clearly in word and action. Helping Christian students on campus, or business and community leaders (e.g. church leaders) share the gospel clearly in word and action, giving others the opportunity to respond.
Helping individuals to develop and be active in their faith through small discipleship groups and 1-to-1 mentoring.
Contacting business and community leaders, addressing key issues in corporate life and helping create a climate of greater understanding of the Christian faith and the person of Jesus.
Sending teams of students and graduates abroad for short-term mission projects as well as longer-term assignments of 1-2 years.
Developing products and resources that aid our workers and volunteers in achieving these goals.
Developing strategic partnerships with like-minded groups and churches.
Contributing funds to Global Aid Network internationally, our partner working to provide humanitarian aid to people living in situations of poverty and crisis overseas.

Public Benefit

In compiling this report, the Trustees have given due regard to the public benefit guidance as issued by the Charity Commission. Agapé UK and GAiN UK are a team of people, staff, associates and volunteers seeking to obey God’s call to go and make disciples of all nations, helping everyone to understand the person of Jesus Christ and how they can come into relationship with Him and be reconciled with one another. The Group works out its public benefit in a number of ways.

The Gospel of Jesus Christ is of benefit to society at large. It provides a context for forgiveness, a platform for dealing with broken relationships, a motivation for service and charity and the focus of a fulfilled and meaningful life. We believe that communities and individuals can experience transformation as they grow to understand and embrace God’s ultimate purposes for them and for the world.

Many people become disciples of Jesus Christ through the lifestyle example of Christians – sharing God’s love in action and word, clearly explaining God’s message as revealed in the Holy Bible, prayerfully expecting the Holy Spirit’s power to transform people, our communities and whole nations.

The Group seeks to demonstrate this benefit through its range of mission and humanitarian activities both here in the UK and across the globe as detailed throughout this Trustees’ report.

Volunteers

The Group is blessed by the contribution of the many volunteers that get involved with each of our ministries. We are thankful for all those who freely give their time to serving alongside us and want to acknowledge the part they play in helping Agapé UK to fulfil its mission.

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REPORT OF THE TRUSTEES

Achievements & Performance

God continues to give us incredible opportunities to play our part in helping to fulfil the Great Commission; inspiring people to discover Jesus, encouraging people to grow in their faith and enabling people to go and make disciples. We are seeing an increased appetite and commitment to gospel partnerships across the UK, and this Kingdom mindset is multiplying all our efforts. We continue to trust the Lord to lead us towards growing fruitfulness for His glory and we praise Him for the fruit we have seen this past year.

We are deeply grateful for the hard work of our staff, the financial partnership with our ministry partners, and all the time and effort invested by our volunteers. Each one played an important part in enabling our work to continue this year. The following is a summary of our achievements in 2025.

Student Ministry

Our student teams across the UK inspire students to discover Jesus for the first time through regular outreach events and personalised follow up. They equip students to grow in their relationship with Jesus and become more like Him through their participation in our student communities, which meet weekly, offering discipleship, Bible studies and evangelism training. Finally, they enable them to go like Jesus through local opportunities to do initiative evangelism on campus and global opportunities through short-term global projects.

In 2025, our student ministry teams connected with over 1300 students of many different faith backgrounds, and helped almost 200 Christian students grow in their faith.

Workplace Ministry

Beyond the student world, we are also seeking to model the Great Commission through leaders in several other parts of society. In collaboration with churches, ministries and charities, our teams are seeking to see people discover Jesus and be transformed by the Holy Spirit. We work amongst some of the most influential and least reached people – people in positions of political authority, elite sportspeople, and professionals and leaders in various industries. Our small teams are impacting hundreds of influencers in these areas, through the power of partnership with others. Activities this year have included regular gatherings for recent graduates, athletes, business leaders and governmental leaders.

Family Ministry

Our FamilyLife team aims to renew, strengthen and transform the lives and communities of every family, by helping people discover Jesus and His teachings. They have been providing resources and training to families that are based on current research, while being rooted in biblical principles. In 2025, the team achieved the following:

Began production and beta-testing of a scalable relationships day event
Began updating the Together discipleship materials
Produced media content for YouTube and TV
Delivered ‘A Day Together’ events in partnership with local churches
Tested materials in new language contexts, particularly Turkish
Created and released a podcast called “Why Marriage?”, with the aim of helping listeners understand the research-based evidence for monogamous marriage being better than other alternatives.

Digital Ministry

Our digital team of staff and mentor volunteers engaged with people online, ranging from the unengaged through spiritually curious towards those professing faith, with the goal of seeing people become fully engaged followers of Jesus. This year the Digital team connected with 1.7 million people online (a 15x increase on 2024), directly sharing the gospel with 33,000 people (a 3x increase on 2024).

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REPORT OF THE TRUSTEES

Global Ministry

Our Global teams focus on reaching the ‘nations’ within our UK borders and around the world. We are seeing a significant impact amongst people groups that have previously been less open to engaging with the Christian message.

Our Farsi work has engaged over 600,000 people with digital content. In an era when there is much upheaval in the Farsi world, there are increasing opportunities to bring the gospel message to bear on world events.
Our teams continue to support the work of indigenous-led ministries and organisations in nations around the world. Some of our key partnerships are in Sierra Leone, Benin, Malta and Bulgaria.
EveryCommunity is a video resource that’s being built to enable an increasingly multicultural church in the UK to thrive, and model healthy community to a multicultural nation. There is strong momentum with a dozen other ministries linking arms on this project.

Church Engagement

Our Church Engagement team is fully focused on working with local church leaders to equip their congregations for ‘everyone a disciple-maker’. Our vision is that every believer in the UK will be inspired, encouraged and enabled to share their faith naturally, and as a way of life, where they study, work, live and play. We currently have connections with approximately 300 churches and networks, and we have formed on-going partnerships with local churches across the UK. Churches appreciated working with our trained staff and the ongoing partnerships we have formed to serve their needs. Church leaders report that the people in their congregations are more enthusiastic and empowered to take simple steps in sharing their faith with friends. The introductory course, ‘Recommending Jesus’, often accompanied by preaching in a Sunday service, has been well received. This year the team has:

Recruited new members to build the team.
Refined our contribution to more effectively serve the local church’s needs in ‘Recommending Jesus’ to those outside the church.
Grown the model for Church Engagement and prepared for growth in the West Midlands.
Delivered in-person training to church members.
Represented Agapé UK at ELIM Leaders Summit, London Mission Collective, London Mission Week events along with other networking. We are continuing to learn what the UK church needs and to better serve them with what resources and know-how we have.
Seen a growth in the use of the Living & Telling course to equip church members (incl. one church taking 200 people through the material), particularly in the South West.
We have made some of Agapé UK’s key resources available for sale in multiple locations, prompting increased engagement and partnership opportunities.

Global Aid Network (GAiN) UK

GAiN UK is the charitable subsidiary and humanitarian aid partner of Agapé UK. The team is dedicated to bringing hope and tangible help to people living in poverty and crisis. Last year, we sent 2,225 boxes of essential aid to various parts of the world. Each box serves roughly ten people, so we estimate that we served 200,000 people through our aid boxes. Within the UK, we worked with 23 trusted long-term partners to support projects including youth work, social work, early childhood education, and refugee relief.

Central Services

The work of the Central Services departments continued to provide the resources and organisational support to activities across the ministries. Significant milestones this year included the operating of Global Aid Network (GAiN) UK as its own entity from 1st January 2025. We also saw the successful transition to our new operating system completed

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in October 2025. Alongside this we moved into Workvivo as our primary communication platform to bring us inline with global tools and resources.

During this time the team processed over 28,000 individual donations, 570 orders for resources, 15 staff & volunteer applications and took ten staff through training and inductions. They also carried out eight team debriefs and met with 34 staff as pastoral support.

In July 2025 our all-European gathering was hosted in Berlin bringing together staff and volunteers from 42 countries in Europe where our global ministry is present. This was a significant time to connect with others in shared ministry and to be envisioned for the work that God is doing across Europe.

What’s next in 2026?

As we look forward to the year ahead, our teams have a lot of exciting plans. The big headline they are all working towards is to audit how effective we are at making disciples who make disciples. Each team will then make plans accordingly, to strengthen their processes, resources and culture of disciple-making. Here are some of the other things our teams are working on.

Our Student Ministry is seeking to build a culture of innovation within the team, in order to more effectively engage Gen Z and Gen Alpha with the gospel. They are also continuing to build into Christian students in all sorts of ways, and in partnership with other ministries, so that we can help every Christian be effective in making disciples.

The FamilyLife team is in the process of revamping the Together disciple-making resource. They are also creating a tool called Toucan Grow Together with the intention of enabling churches everywhere to run a simple video course for groups ranging from 4 to 40 couples. The tool has been tested with focus groups, and is going to be launched more broadly towards the end of 2026. Our team is in the process of developing a volunteer network across the UK who will help run marriage events and groups to help couples build strong relationships.

Our Workplace ministries will continue to engage in reaching out to and making disciples of people in various walks of life. Events such as the World Cup this summer provide an opportunity to reach out to people. Teams will continue to run some of their regular programmes such as our annual International Women’s Day gatherings, international mission trips and more.

Our Digital team is continuing to grow their impact through the use of resources produced globally (such as our Jesus Film multimedia offerings, or the Mentor Ministry). The team use content to produce journeys for people online, that help them engage in things that are of interest to them and lead them on a journey to Jesus. As they get better at using analytics to evaluate their impact, the team is able to better understand the needs of those they are engaging with, and to show how Jesus makes a difference. Our digital library continues to grow through the work of this team, including more and more Youversion Bible studies and video teaching content. We are going to continue offering our resources and training to churches and ministries across the UK, to enable them to be more effective in their work too.

The Global ministry team is leading a partnership of about a dozen ministries, to produce a resource called EveryCommunity. The vision for this resource is to enable every believer to be equipped to love their neighbour across cultures, so that we see a thriving multi-cultural body of Christ reaching out to the multicultural UK with the hope of the gospel. In summer 2026, the team will be recording video content for the online learning programme they are putting

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REPORT OF THE TRUSTEES

together. They will continue to send short-term projects to Europe and Africa. They will also deliver cross-cultural training for staff preparing to serve outside their home nation and cross-cultural training for staff leading in a multicultural context.

Our aid efforts are led by the Global Aid Network UK . They will continue to engage with the needs of the UK and the world from our Involvement Centre in Coventry, so that we can show people that Jesus’s love is practical. They will be seeking to strengthen their capacity by growing their fundraising and recruiting more people to join the team.

The Church Engagement team will continue at the forefront of our new national focus (as one of our strategic priorities), working with church leaders and networks to grow a disciple-making culture within churches and to inspire, encourage and enable Christians to be confident to share their faith. They will further develop ‘Live it. Tell it!’- a youth resource for churches and ‘Disciple-Makers’ a resource for all church members. They will attend networking events to expand their connections and add value to more churches across the UK. The team will promote and involve churches in Pentecost weekend outreaches in London (plus the London Mission Week, end of Jan 2026) as well as ‘GO Day’ in June. New team members will join in 2026.

And as the spiritual openness to Christianity grows across the UK, all our teams are looking to see how we can give every person in the UK (and many more around the world) the opportunity to discover Jesus.

Our Central Services departments will be implementing the shift of our annual planning cycle to run from September to August to better align with field ministry needs, resulting in a shorter financial year in 2026 to August. The profiling of our new website, launching in early 2026, is expected to provide a significant boost to our engagement with key audiences and gives us the opportunity to signpost people more effectively to relevant resources, training and projects. We will also be working on a key development for improving online giving through a new plug-in for the Giving website to enable donations via direct debit.

Financial Review

The Group’’s financial management aims are to:

Employ staff who raise funds for Agapé UK for the purposes of paying salaries, staff expenses for personal ministry and contribute to general funds. Staff working with GAiN UK are seconded from Agapé UK.
Raise general funds to support the cost of the Group’s operational expenses, including a high-class training and personal welfare programme.
Raise funds through specific appeals to support the Group’s outreach activities.
Raise funds to support evangelistic activities overseas which are managed by overseas organisations within the wider Campus Crusade for Christ International umbrella..

Agapé UK’s financial model relies on a 12.5% deduction on all funds raised in the UK by staff and specific appeals. 9.5% is used to fund the operating costs of the ministry and 3% is tithed to be used for activities of overseas Agapé organisations, specifically in Europe. The amounts raised are affected by the number of staff raising personal support in the UK.

The overall financial performance in 2025 is as follows:

Funds raised by staff were £3.49m compared to £3.39m in 2024, an increase of £96,400.

All staff salaries including key management personnel are set according to pre-defined criteria. The salary breakdowns are laid out in detail in note 8. Five staff received emoluments of more than £60k during the year.

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REPORT OF THE TRUSTEES

Staff fund balances have increased in 2025 by £71k to £754k (note 19 to the accounts). This is due to several staff receiving significant one-off donations from grant making organisations and individual donors, particularly at the end of the calendar year.

The building (and associated costs) is depreciated at a rate of 2% per annum, and the costs of improvements to “The Hub” have been capitalised and will be depreciated together with the existing asset over its remaining useful economic life.

Designated funds at the end of the year are £941k (2024: £865k), which comprise funds for staff, ministry activities, and urgent needs relating to our staff. These funds support the various ministry activities that have taken place in the year (see note 18 for details).

Restricted funds at the end of the year are £350k (2024: £319k), which comprise funds relating to a portion of the purchase price of the Agapé UK office, funds held specifically for the ministry of other Campus Crusade for Christ entities outside the UK, and funds raised through appeals specifically for major outreach initiatives, disaster response and relief work.

Total funds at the end of the year are £1.74m (2024: £1.64m).

Grants to overseas Campus Crusade activities totalled £556k (2024: £525k). This is funded directly by donations given for these purposes and the 3% Tithe.

Bank balances at December 2025 were £1.10m as compared to £920k at December 2024. This is a reflection of the prudent approach to operating costs in the year as well as the efforts of the staff and ministry teams in raising funds this year.

The Trustees’ Reserve Policy

The Trustees are aware that the main financial issues to the Group are:

The continued operation of our national headquarters and rented premises.
The funding of central running costs for which the majority is funded through the 12.5% levy on funds raised by staff together with targeted fund development activities in 2025. This is budgeted as a broadly breakeven situation.
The progress of a current initiative to develop new sources of funding for outreach activities.

The existing reserves policy is to have 6 months reserves to cover operating costs which are not directly funded from donation income. The budgeted costs for 2026 are around £339k and this gives a target of roughly £169k.

At December 2025, cash reserves were £116,773 (£137,420 in 2024) for Unrestricted General Funds, so the reserves are under target.

The Trustees are very aware of the funding constraints faced by the organisation, particularly in the area of supporting operating costs, and are committed to increasing cash reserves to provide a strong foundation that supports the wider activities of the ministry. If required, the Trustees can draw on funds designated for staff and ministry activities to cover any short-term financial gaps as these funds have been given for the overall purposes of the organisation.

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REPORT OF THE TRUSTEES

Auditors

Prime Accountants served as auditors throughout the period. A resolution to re-appoint Prime Accountants as auditors will be proposed at the forthcoming annual general meeting.

The Trustees’ report has been prepared in accordance with the provisions applicable to companies entitled to the small companies’ exemption provided by section 408 and section 414B (b) of the Companies Act 2006.

Approved and authorised for issue by the board on: 13[th] May 2026

By:

Steve Botham (Chair) 167 Newhall Street Birmingham B3 1SW

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AGAPE MINISTRIES LIMITED

INDEPENDENT AUDITOR’S REPORT

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Opinion

We have audited the financial statements of the Group for the year ended 31 December 2025 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In our opinion the financial statements:

give a true and fair view of the state of the Group’s affairs as at 31 December 2025 and of its income and expenditure, for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'; and
have been prepared in accordance with the requirements of the Companies Act 2006 and the Charities and Trustee Investment (Scotland) Act 2005, regulations 6 and 8 of the Charities Accounts (Scotland) Regulations 2006 (as amended).

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and parent charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge

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INDEPENDENT AUDITOR’S REPORT

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obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006 and the Charities and Trustee Investment (Scotland) Act 2005, regulations 6 and 8 of the Charities Accounts (Scotland) Regulations 2006 (as amended).

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

the information given in the Trustees’ Report, which includes the Directors’ Report prepared for the purposes of company law, for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Report of the Trustees has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ Report.

We have nothing to report in respect of the following matters where the Companies Act 2006 and the Charities Accounts (Scotland) Regulations 2006 requires us to report to you if, in our opinion:

adequate and proper accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of trustees' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.
the trustees were not entitled to prepare the financial statements in accordance with the small company’s regime and take advantage of the small companies’ exemption in preparing the Trustees’ Report and from the requirement to prepare a Strategic Report.

Responsibilities of Trustees

As explained more fully in the trustees’ responsibilities statement set out on page 3, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the Group’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

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AGAPE MINISTRIES LIMITED

INDEPENDENT AUDITOR’S REPORT

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Auditor’s responsibilities for the audit of the financial statements

We have been appointed as auditor under Section 44(1)(C) of the Charities and Trustee Investment (Scotland) Act 2005 and under the Companies Act 2006 and report in accordance with regulations made under those Acts.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Independent Auditor’s Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We designed procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

The engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
We identified the laws and regulations applicable to the charity through discussions with trustees and other management, and from our commercial knowledge and experience of the industry sector;
We focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the Group including taxation legislation and data protection, antibribery, employment, environmental and health and safety legislation;
We assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence.

We assessed the susceptibility of the Group’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

Making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
Considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:

Performed analytical procedures to identify any unusual or unexpected relationships;
Tested journal entries to identify unusual transactions;
Assessed whether judgements and assumptions made in determining accounting estimates were indicative of potential bias; and
Investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

Agreeing financial statement disclosures to underlying supporting documentation;
Reading the minutes of meetings of those charged with governance;

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AGAPE MINISTRIES LIMITED INDEPENDENT AUDITOR’S REPORT

___________

Enquiring of management as to actual and potential litigation and claims; and
Reviewing correspondence with HMRC and other relevant parties.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Independent Auditor’s Report.

Use of the audit report

This report is made solely to the charity’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006 and section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005, regulation 10 of the Charities Accounts (Scotland) Regulations 2006 (as amended) and with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity’s members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Vivian Shadbolt BSc FCA (Senior Statutory Auditor)

for and on behalf of Prime Chartered Accountants

Statutory Auditor

161 Newhall Street

Birmingham B3 1SW

Date: 22.05.2026.

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AGAPE MINISTRIES LIMITED

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (Incorporating an income and expenditure account) Year ended 31 December 2025

______________	______________	______________	______________	______________	______________
		Unrestricted	Restricted	Total funds	Total funds
		funds	funds	2025	2024
	Notes	£	£	£	£
INCOME AND ENDOWMENTS FROM:
Donations and Legacies		4,199,477	128,868	4,328,345	4,210,104
Gifts in kind		-	527,068	527,068	1,145,463
Charitable Activities		8,958	-	8,958	121
Other trading activities		22,501	-	22,501	20,911
Investments		50,267	-	50,267	30,218
		───────	───────	───────	───────
TOTAL INCOMING RESOURCES	2	4,281,203	655,936	4,937,139	5,406,817
		───────	───────	───────	───────
EXPENDITURE ON:
Raising funds	3	74,498	-	74,498	100,337
Charitable activities	5	4,124,277	629,176	4,753,453	5,161,838
Other	4	9,492	5,250	14,742	13,892
		───────	───────	───────	───────
TOTAL		4,208,267	634,426	4,842,693	5,276,067
		───────	───────	───────	───────
Net (loss)/gain on investments		-	-	-	-
		───────	───────	───────	───────
NET (EXPENDITURE)/ INCOME		72,936	21,510	94,446	130,750
Transfer between funds	19	(9,116)	9,116	-	-
		───────	───────	───────	───────
Net movement in funds		63,820	30,626	94,446	130,750
Fund Balances at Beginning of Year		1,324,355	319,216	1,643,571	1,512,821
		───────	───────	───────	───────
FUND BALANCES AT END OF YEAR		1,388,175	349,842	1,738,017	1,643,571
		═══════	═══════	═══════	═══════

All the above results are derived from continuing activities.

The Charity has no recognised gains or losses other than the net movement in funds for the year. The Surplus for Companies Act Purposes is £94,446 – 2024 was £130,750.

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AGAPE MINISTRIES LIMITED

COMPANY BALANCE SHEET Year ended 31 December 2025

Company number 00949989	Notes	2025	2024
		£	£
FIXED ASSETS
Intangible fixed assets	10	276	454
Tangible assets	11	593,616	623,254
		───────	───────
		593,892	623,708
CURRENT ASSETS
Term deposits	12	-	483,310
Stocks	14	10,754	9,935
Debtors	15	182,928	177,046
Cash at bank and in hand		1,061,470	436,684
		───────	───────
		1,255,152	1,106,975
CREDITORS: AMOUNTS FALLING DUE
WITHIN ONE YEAR	16	(152,275)	(87,112)
		──────	───────
NET CURRENT ASSETS		1,102,877	1,019,863
		───────	───────
NET ASSETS		1,696,769	1,643,571
		═══════	═══════
Unrestricted funds	19	1,388,175	1,324,355
Restricted funds	20	308,594	319,216
		───────	───────
TOTAL NET ASSETS		1,696,769	1,643,571
		═══════	═══════

As permitted by Section 408 of the Companies Act 2006, the Parent Charity has not presented its own income statement. Its surplus for the year was £53,198 (2024: £130,750).

These financial statements which have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within CA 2006, Pt 15, were approved and authorised for issue by the board of directors on: 13[th] May 2026.

Steve Botham

Kevin Russell

Members of the Council

of management

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AGAPE MINISTRIES LIMITED

CONSOLIDATED BALANCE SHEET Year ended 31 December 2025

Company number 00949989	Notes	2025	2024
		£	£
FIXED ASSETS
Intangible fixed assets	10	276	454
Tangible assets	11	601,163	623,254
		───────	───────
		601,439	623,708
CURRENT ASSETS
Term deposits	12	-	483,310
Stocks	14	10,754	9,935
Debtors	15	184,110	177,046
Cash at bank and in hand		1,105,458	436,684
		───────	───────
		1,300,322	1,106,975
CREDITORS: AMOUNTS FALLING DUE
WITHIN ONE YEAR	16	(163,744)	(87,112)
		──────	───────
NET CURRENT ASSETS		1,136,578	1,019,863
		───────	───────
NET ASSETS		1,738,017	1,643,571
		═══════	═══════
Unrestricted funds	19	1,388,175	1,324,355
Restricted funds	20	349,842	319,216
		───────	───────
TOTAL NET ASSETS		1,738,017	1,643,571
		═══════	═══════

Steve Botham Kevin Russell

Members of the Council of management

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AGAPE MINISTRIES LIMITED

STATEMENT OF CONSOLIDATED CASH FLOWS

Year ended 31 December 2025

_______________	_______________	_______________	_______________
	Notes	2025	2024
		£	£
Cash flow from operating activities:
Net cash flow from operating activities	21	133,276	107,624
Cash flow from investing activities:
Interest received		50,267	30,218
Payments to acquire investments		-	(21,123)
Receipts from sales of investments		483,311	162,700
Payments to acquire intangible fixed assets		(245)	(337)
Payments to acquire tangible fixed assets		(9,835)	(7,835)
Proceeds from the sale of tangible fixed assets		5,000	-
		───────	───────
Net cash flow from investing activities		528,498	163,623
Cash flow from financing activities:
New loans in the year		12,000	-
Repayment of loans within the year		(5,000)	-
		───────	───────
Net cash flow from financing activities		7,000	-
Change in cash and cash equivalents in the
reporting period		668,774	271,247
Cash and cash equivalents at the beginning of the
reporting period	22	436,684	165,437
Cash and cash equivalents at the end of the
reporting period	22	1,105,458	436,684

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AGAPE MINISTRIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2025

1. ACCOUNTING POLICIES

Basis of accounting

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) – (Charities SORP (FRS102 2019)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) and the Companies Act 2006.

Agape Ministries meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).

Preparation of the accounts on a going concern basis

The company reported a cash inflow of £668,774 for the year.

The Trustees have prepared detailed financial performance projections for the ensuing year. Those projections are reviewed and revised at the end of each reporting period within the company’s financial year. Based on those projections the Trustees have satisfied themselves that the company has adequate resources to continue in operational existence for the foreseeable future, being a period of not less than 12 months from the approval of these financial statements. Thus, the Trustees continue to adopt a going concern basis of accounting in preparing the annual financial statements.

The organisation's financial health continued to improve in 2025, a result of careful management of operating costs and enhanced fundraising efforts. Our dedicated staff have successfully engaged ministry partners, whose generous donations and the increased visibility of our ministry departments within churches and communities have been instrumental.

Our model of staff-led ministry partner development remains strong, providing financial stability despite the broader economic challenges in the UK. We anticipate donation income will remain stable into 2026, consistent with the trend over the past three years.

Looking ahead in 2026, we are focused on strengthening our financial foundation by continuously reviewing operating costs to ensure appropriate support for the organisation, increasing training and support for staff in ministry partner development to fully cover all personnel expenses, and strategically investing assets to maximise returns. We are grateful for the Lord’s provision received in 2025 and remain confident for the future.

Company status

The company is a company limited by guarantee. The Directors of the company are the Trustees named in the “Reference and Administrative Details”. In the event of the company being wound up, the liabilities in respect of the guarantee is limited to £1 per member of the company.

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AGAPE MINISTRIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2025

Use of estimates and judgements

When preparing the financial statements, management makes several judgements, estimates and assumptions about the recognition and measurement of assets, liabilities, income, and expenses. The estimate that has the most significant effect relates to fixed assets.

Determining residual values and useful economic lives of fixed assets

The Company depreciates tangible fixed assets over their estimated useful lives. The estimation of the useful lives of assets is based on historic performance as well as expectations about future use and therefore requires estimates and assumptions to be applied by management. The actual lives of these assets can vary depending on a variety of factors, including the property market and maintenance programme.

Incoming resources

The income and result for the year are attributable to the principal activities as set out in the report of the Council of Management. Most of the income is derived from the UK; however, some is received via Agapé Europe and via Campus Crusade for Christ International and is mainly for support of staff.

Donations include all amounts receivable by the company in respect of donations to support field workers and for other purposes.

Income includes the amounts invoiced, excluding recoverable value added tax, in respect of the sale of literature and other evangelism and discipleship resources. It also includes conference income, project income, and donations.

Resources expended

In the presentation of these accounts, expenditure against each activity includes staff expenses of self-funding staff and an allocation of support costs, see note 3 below.

The cost of generating funds is the direct costs (including salaries) of Agapé communication to donors and an overhead charge on the gross income raised from funding appeals. No external agencies were contracted to raise funds on behalf of Agapé and all communications were sent to individuals who had expressed consent to receive them. All giving was on a voluntary basis.

The basis for allocation of support costs to activities has been pro rata to the total income and expenses of each activity, excepting those which are restricted funds, where overseas appeals are charged a fixed percentage on gross income (see paragraph above).

The policy on grants to activities of overseas Agapé organisations is not to enter commitments to provide funding which has not yet been raised, by more than £10k for any one commitment.

Governance costs

These include the cost of professional advice, audit costs, and Trustee meeting costs.

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AGAPE MINISTRIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2025

Fixed Assets

Items of a capital nature purchased from Agapé General Funds and costing over £500 are capitalised as fixed assets at cost. Depreciation is provided at rates calculated to write off the cost, less estimated residual value, of each asset on a straight-line basis over its expected useful life as follows:

Freehold land	0% per annum
Freehold property	2% per annum
Computer equipment	33 1/3% per annum
Office equipment	33 1/3% per annum
Motor vehicle	33 1/3% per annum

Intangible Fixed Assets

Intangible assets are assets that are identifiable and possess all the following characteristics: lack of physical substance, nonfinancial nature (not in monetary form like cash or investment securities) and initial useful life extending beyond a single reporting period. Intangible assets are amortised over three years.

Operating leases

Rentals payable under operating leases are charged on a straight-line basis over the term of the lease.

Finance leases

Assets held under finance leases and the related lease obligations are included at the fair value of the leased assets at the inception of the lease. Depreciation on leased assets is calculated to write off this amount on a straight-line basis over the shorter of the lease term and the useful life of the asset. Rentals payable are apportioned between the finance charge and a reduction of the outstanding obligation for future amounts payable so that the charge for each period is a constant percentage of the remaining balance of the capital sum outstanding.

Stocks and work in progress

Stocks and work in progress are stated at lower of cost and net realisable value.

Tax refunds on gift aid income

Credit is taken in the Statement of Financial Activities for tax refunds receivable in the current accounting period.

Financial Instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value except for bank loans which would be subsequently measured at amortised cost using the effective interest method.

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AGAPE MINISTRIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2025

Investments

Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. The statement of financial activities includes the net gains and losses arising on revaluation and disposals throughout the year.

Grants

Grants during 2025 were made solely to overseas Agapé UK/Campus Crusade for Christ International activities.

3% of all donations received by Agapé UK in the year are “tithed” by way of a grant during the year following that in which they were received. These “tithes” are used to support operations and ministry activities by overseas Agapé organisations within Europe where the need is greatest and where raising funds locally is exceptionally challenging.

Any donations received in the UK for Agapé UK/Campus Crusade for Christ International workers based overseas are passed on, by way of an in-year grant, to the ministry in that country for use by the designated staff member.

Designated funds

The nature and purpose of such funds are as follows:

Staff: Monies received into staff accounts.

Student Ministry: Donations designated for activities intended to further the Christian discipleship of students and other young people.

Non-Campus Ministry: Donations designated for activities intended to further the Christian discipleship in the UK, including working with churches, within the workplace, and online.

Projects and events: Funds held to be spent on UK events and partnerships to increase the profile and exposure of Agapé UK.

Urgent Needs Fund: Staff funds specifically set aside to assist staff should they face unexpected financial difficulties or hardship.

International Ministry: Donations designated for teams working to further the Christian discipleship in countries other than the UK.

International Mission Projects: Donations designated for short term projects (less than a month) to take students to other parts of the world to further Christian discipleship.

Restricted funds

These include proceeds from the sale of a restricted part of a leasehold property and specific appeals for international development projects which are managed by Agapé’s overseas sister organisations where the balance represents funds not yet utilised.

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AGAPE MINISTRIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2025

2. INCOMING RESOURCES

INCOMING RESOURCES
	2025	2024
	£	£
UK	2,954,959	3,471,919
Rest of World	1,982,180	1,934,898
	───────	───────
	4,937,139	5,406,817
	═══════	═══════

3. EXPENDITURE ON RAISING FUNDS

	Staff salaries	Other direct	Allocation of	Total 2025	Total 2025	Total 2024	Total 2024
	& expenses	costs	support costs	(Unrestricted)	(Restricted)	(Unrestricted)	(Restricted)
	£	£	£	£	£	£	£
Communication with donors	54,612	1,003	16,393	72,008	-	99,331	-
Local appeals (unrestricted)	-	1,692	798	2,490	-	1,006	-
	───────	───────	───────	───────	───────	───────	───────
	54,612	2,695	17,191	74,498	-	100,337	-
	═══════	═══════	═══════	═══════	═══════	═══════	═══════

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AGAPE MINISTRIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2025

4. OTHER EXPENDITURE

4. OTHER EXPENDITURE
	Staff salaries	Other direct	Allocation of	Total 2025	Total 2025	Total 2024	Total 2024
	& expenses	costs	support costs	(Unrestricted)	(Restricted)	(Unrestricted)	(Restricted)
	£	£	£	£	£	£	£
Governance costs	-	14,742	-	9,492	5,250	13,892	-
Other resources expended (unrestricted)	-	-	-	-	-	-	-
Other resources expended (restricted)	-	-	-	-	-	-	-
	───────	───────	───────	───────	───────	───────	───────
	-	14,742	-	9,492	5,250	13,892	-
	═══════	═══════	═══════	═══════	═══════	═══════	═══════

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AGAPE MINISTRIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2025

5. EXPENDITURE ON CHARITABLE ACTIVITIES

	Staff salaries	Other direct	Allocation of	Total 2025	Total 2025	Total 2024	Total 2024
	& expenses	costs	support costs	(Unrestricted)	(Restricted)	(Unrestricted)	(Restricted)
	£	£	£	£	£	£	£
Agapé Students	632,360	7,318	172,152	811,830	-	889,780	-
Family Life	763,073	10,730	216,783	990,586	-	810,589	-
Work Life	373,593	12,101	105,864	491,558	-	541,379	452
Church Partnerships	114,382	836	35,931	151,149	-	148,721	-
Global Life	359,706	6,179	1,090,949	890,310	566,524	733,702	1,145,463
International Mission Projects	-	15,125	2,357	17,482	-	19,810	-
Sales activity	-	13,682	6,958	20,640	-	22,265	-
Grants to overseas activities	-	556,292	191,176	740,767	6,701	743,180	11,383
Overseas appeals (restricted)	-	22,514	-	-	22,514	-	46,359
Expenditure on behalf of International ministry	-	22,259	-	9,955	12,304	23,446	25,309
Property fund	-	21,133	-	-	21,133	-	-
	───────	───────	───────	───────	───────	───────	───────
	2,243,114	688,169	1,822,170	4,124,277	629,176	3,932,872	1,228,966
	═══════	═══════	═══════	═══════	═══════	═══════	═══════

Total grants made during the year to Overseas Campus Crusade for Christ Activities: £556,292 (2024: £525,135).

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AGAPE MINISTRIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2025

6. NET INCOMING RESOURCES FOR THE YEAR

This is stated after charging:

	2025	2024
	£	£
Staff costs (note 8)	2,957,569	2,882,476
Depreciation of intangible and tangible fixed assets	18,125	30,422
Hire of equipment – operating leases	5,364	6,359
Auditor’s remuneration – for audit	12,100	13,800
Auditor’s remuneration – for independent examination of subsidiary	5,250	-

7. COUNCIL OF MANAGEMENT

No council members received any remuneration from the company in the year to 31 December 2025 (2024: nil).

A total of £222.09 (2024: £91.98) was received by Council members as reimbursement for expenditure incurred for their responsibilities with the charity.

Agape UK held Trustees Indemnity Insurance cover throughout the year of £1,000,000 (2024: £1,000,000).

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AGAPE MINISTRIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2025

STAFF COSTS
	Salaries from	designated funds	Salaries from	general funds	Total	Total
	2025	2024	2025	2024	2025	2024
	£	£	£	£	£	£
Salaries	2,586,158	2,549,337	98,077	90,421	2,684,235	2,639,757
Social Security Costs	191,056	162,926	10,914	7,103	201,970	170,030
Employer Pension Contributions	69,099	69,976	2,265	2,713	71,364	72,689
	───────	───────	───────	───────	───────	───────
	2,846,313	2,782,239	111,256	100,237	2,957,569	2,882,476
	═══════	═══════	═══════	═══════	═══════	═══════

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AGAPE MINISTRIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2025

	2025		2024
	Number	FTE	Number	FTE
Supported Agape Workers
Management	5	4.6	4	3.6
Administration	12	10.7	11	7.8
Field	41	34.7	48	35.7
Overseas	2	2.0	2	2.0
	───────	───────	───────	───────
	60	52.0	65	49.1
	───────	───────	───────	───────
Salaried from general funds
Administration	4	3.6	4	3.6
	───────	───────	───────	───────
	64	55.6	69	52.7
Foreign workers in UK	19	18.8	20	20.0
	───────	───────	───────	───────
TOTAL WORKERS	83	74.4	89	72.7
	═══════	═══════	═══════	═══════

Five employees received emoluments in excess of £60k (2024: 3). Agapé’s ‘Key Management Personnel’ are comprised of the UK Executive Leadership Team (4 members) and 1 UK Personnel who serves in a Global Leadership Role. Key Management Personnel compensation (including salaries, employers national insurance, pension contributions and benefits in kind) during 2025 equals £186,760.89 (£151,224.30 in 2024).

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AGAPE MINISTRIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2025

Salary Level

The following principles are observed in setting the salary scale of all staff including key management personnel:

Salary level is based on the deliberate choice of lifestyle that best enhances the ministry's goals. This will normally entail sacrifice from what staff would otherwise earn.
Salary level should be adequate so that our staff members can minister without constant distractions due to lack of money.
Salary should consider how staff members’ lifestyle should appear to the people to whom they minister. A person's lifestyle should not interfere with his or her ministry. Certain variations may be needed within the salary scale depending on where staff members are required to live, to whom they are required to minister, etc.
Salary should consider how the lifestyle of staff members will be viewed by the local Christian community and other people. Our staff members’ lifestyle should not cause their Christian brothers to stumble.

There is not to be any variation of salary due to position within the organisation.

Supported staff of Agapé in the United Kingdom are paid a monthly salary. They can fix their own salary level between set limits and subject to their team leaders’ approval. The higher limit or “cap” is set to reflect to some extent each person’s needs, considering where they live, age, marital status and number and ages of children. The lower limit is half of the cap but only where this is greater than the National Living Wage. The salary taken by staff members will cover all their personal expenses, in the normal way, such as accommodation, water rates, Council Tax, children’s education and car expenses.

Staff are encouraged not to cover their normal reimbursable ministry expenses through taking higher salary as this is taxable income and increases the amount of support required.

The salary scale is reviewed annually in the light of changes in the cost of living and is adjusted by the prevailing RPI (Retail Price Index). A new scale takes effect from 1st January of each year.

9. TAXATION

The company is a registered charity (number 258421) and was not liable to corporation tax in the year to 31 December 2025 or in 2024.

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AGAPE MINISTRIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2025

10. INTANGIBLE FIXED ASSETS

Group & Company

& Company
	Toucan App	Website	Total
	£	£	£
COST
At 1 January 2025	257,002	40,837	297,839
Additions	-	245	245
Disposals	-	-	-
	───────	───────	───────
At 31 December 2025	257,002	41,082	298,084
	═══════	═══════	═══════
DEPRECIATION
At 1 January 2025	257,002	40,383	297,385
Charge for the year	-	423	423
Disposals	-	-	-
	───────	───────	───────
At 31 December 2025	257,002	40,806	297,808
	═══════	═══════	═══════
NET BOOK VALUE
At 31 December 2025	-	276	276
	═══════	═══════	═══════
At 31 December 2024	-	454	454
	═══════	═══════	═══════

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AGAPE MINISTRIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2025

11. TANGIBLE FIXED ASSETS

Group

			Fixtures
	Freehold	Freehold	fittings &
	Land	Property	equipment	Vehicles	Total
	£	£	£	£	£
COST
At 1 January 2025	125,000	620,694	112,320	15,400	873,414
Additions	-	-	9,835	-	9,835
Disposals	-	-	(31,866)	(15,400)	(47,266)
	───────	───────	───────	──────────────
At 31 December 2025	125,000	620,694	90,289	-	835,983
	═══════	═══════	═══════	══════════════
DEPRECIATION
At 1 January 2025	-	143,345	99,543	7,272	250,160
Charge for the year	-	12,414	5,288	-	17,702
Disposals	-	-	(25,770)	(7,272)	(33,042)
	───────	───────	───────	───────	───────
At 31 December 2025	-	155,759	79,061	-	234,820
	═══════	═══════	═══════	═══════	═══════
NET BOOK VALUE
At 31 December 2025	125,000	464,935	11,228	-	601,163
	═══════	═══════	═══════	═══════	═══════
At 31 December 2024	125,000	477,349	12,777	8,128	623,254
	═══════	═══════	═══════	═══════	═══════

��

AGAPE MINISTRIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2025

Company

Company
			Fixtures
	Freehold	Freehold	fittings &
	Land	Property	equipmen	Vehicles	Total
	£	£	t	£	£
			£
COST
At 1 January 2025	125,000	620,694	112,320	15,400	873,414
Additions	-	-	913	-	913
Disposals	-	-	(31,866)	(15,400)	(47,266)
	──────	──────	──────	──────	──────
At 31 December 2025	125,000	620,694	81,367	-	827,061
	══════	═══════	══════	═══════	═══════
DEPRECIATION
At 1 January 2025	-	143,345	99,543	7,272
					250,160
Charge for the year	-	12,414	3,913	-	16,327
Disposals	-	-	(25,770)	(7,272)	(33,042)
	──────	──────	──────	──────	──────
At 31 December 2025	-	155,759	77,686	-	233,445
	══════	═══════	══════	═══════	═══════
NET BOOK VALUE
At 31 December 2025	125,000	464,935	3,681	-	593,616
	══════	═══════	══════	═══════	═══════
At 31 December 2024	125,000	477,349	12,777	8,128	623,254
	══════	═══════	══════	═══════	═══════
12. TERM DEPOSITS
Group & Company			2025
				£
Value at 31stDecember 2024			483,310
Disposal			(483,310)
			───────
Value at 31st December 2025				-
			═══════

Three 12-month fixed rate treasury deposits were held with Lloyds Bank, with initial investment of £450,000 in total. In 2025, all three deposits were closed upon maturity and transferred to a CCLA COIF Charities Deposit Fund.

��

AGAPE MINISTRIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2025

13. FIXED ASSET INVESTMENTS

The company’s investments at the Balance Sheet date include the following:

Subsidiary

Global Aid Network (UK)

Registered office: 167 Newhall Street, Birmingham, West Midlands, B3 1SW Nature of business: Provision of humanitarian aid to people living in poverty and crisis Limited by guarantee with Agape Ministries being the only member with 100% holding

14. STOCK

Group & Company

& Company
	2025	2024
	£	£
Goods for resale	10,754	9,935
	═══════	═══════

15. DEBTORS: AMOUNT FALLING DUE WITHIN ONE YEAR

		Group	Company	Company
	2025 (£)	2024 (£)	2025 (£)	2024 (£)
Trade debtors	914	219	860	219
Other Debtors	20,967	6,363	20,962	6,363
Other Campus Crusade Debtors	143,978	161,989	143,978	161,989
Prepayments	18,218	5,049	17,128	5,049
VAT	33	3,426	-	3,426
	───────	───────	───────	───────
	184,110	177,046	182,928	177,046
	═══════	═══════	═══════	═══════

��

AGAPE MINISTRIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2025

16. CREDITORS: AMOUNT FALLING DUE WITHIN ONE YEAR

		Group	Company	Company
	2025 (£)	2024 (£)	2025 (£)	2024 (£)
Trade creditors	4,665	6,258	4,665	6,258
Other taxation and social security	53,962	49,501	53,962	49,501
costs
Accruals	17,754	15,436	12,505	15,436
Other Campus Crusade Creditors	80,960	10,355	74,740	10,355
Other Current Liabilites	6,403	5,562	6,403	5,562
	───────	───────	───────	───────
	163,744	87,112	152,275	87,112
	═══════	═══════	═══════	═══════

17. CONTINGENT LIABILITIES

There are none to report in 2025 or in 2024.

18. MOVEMENT IN FUNDS BALANCES

	General	Designated	Restricted	Total
	funds	funds	funds	funds
	£	£	£	£
Balance at 1 January 2025	459,170	865,185	319,216	1,643,571
Surplus/(deficit) for the year	(306,635)	379,571	21,510	94,446
Transfers	294,166	(303,282)	9,116	-
	───────	───────	───────	───────
Balance at 31 December 2025	446,701	941,474	349,842	1,738,017
	═══════	═══════	═══════	═══════

��

AGAPE MINISTRIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2025

19. UNRESTRICTED FUNDS

Company & Group

		Balance at	1	Net	Realised	Transfers	Balance at 31
		January		Incoming	Gains on		December
		2025		Resources	Investments		2025
		£		£	£	£	£
	Designated Staff	683,451		347,424	-	(276,890)	753,985
	Designated Student	23,632		2,526	-	360	26,518
	Designated Non Campus	59,838		(4,748)	-	(10,687)	44,403
	Designated Projects and Events	-		-	-	600	600
	Designated Fund Development	2,153		859	-	1,353	4,365
	Designated Urgent Needs Fund	19,693		3,189	-	(2,249)	20,633
	Designated International Mission Projects	15,889		(14,592)	-	10,358	11,655
	Designated Funds for other CCC	60,529		44,913	-	(26,127)	79,315
		───────		───────	───────	───────	───────
	Designated (Fund Based) Total	865,185		379,571	-	(303,282)	941,474
		───────		───────	───────	───────	───────
	General Funds	459,170		(306,635)	-	294,166	446,701
		───────		───────	───────	───────	───────
	Unrestricted Funds	1,324,355		72,936	-	(9,116)	1,388,175
		═══════		═══════	═══════	═══════	═══════
20.	FINANCIAL RESTRICTED FUNDS
	Group	Fund		raised for
		international
	Property development				Funds for	Global Aid
		Fund	projects		ministries	Network	Total
		£		£	£	£	£
	Balance at 1 January 2025	303,581		11,716	3,919	-	319,216
	Net incoming resources	(21,132)		(11,927)	13,331	41,238	21,510
	Transfers	-		211	8,905	-	9,116
	───────		───────		───────	───────	──────
	Balance at 31 December 2025	282,449		-	26,155	41,238	349,842
	═══════		═══════		═══════	═══════	══════

��

AGAPE MINISTRIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2025

Company		Fund raised for
		international
	Property	development	Funds for
	Fund	projects	ministries	Total
	£	£	£	£
Balance at 1 January 2025	303,581	11,716	3,919	319,216
Net incoming resources	(21,132)	(11,927)	13,321	(19,738)
Transfers	-	211	8,905	9,116
	───────	───────	───────	──────
Balance at 31 December 2025	282,449	-	26,145	308,594
	═══════	═══════	═══════	═══════

The Property Fund comprises the portion of restricted funding used to purchase our current office in Birmingham and represents this portion of the net book value property which is held at cost.

RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH	FLOW FROM	OPERATING ACTIVITIES
	2025	2024
	£	£
Net income/(expenditure) for the reporting period (as per the statement of financial activities)	94,446	130,750
Adjustments for:
Interest Receivable	(50,267)	(30,218)
Depreciation of tangible fixed assets	17,702	27,584
Amortisation of intangible fixed assets	423	2,838
Loss/(profit) on the sale of fixed assets	2,287	-
(Increase)/decrease in stocks	(819)	(824)
(Increase)/decrease in debtors	(7,010)	(25,809)
Increase/(decrease) in creditors	76,514	3,303
	───────	───────
Net cash provided by operating activities	133,276	107,624
	═══════	═══════

��

AGAPE MINISTRIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2025

ANALYSIS OF CASH AND CASH EQUIVALENTS
	2025	2024
Group	£	£
Cash in hand	-	-
Cash deposits (less than 3 months)	1,105,458	436,684
	───────	───────
Total cash and cash equivalents	1,105,458	436,684
	═══════	═══════
	2025	2024
Company	£	£
Cash in hand	-	-
Cash deposits (less than 3 months)	1,061,470	436,684
	───────	───────
Total cash and cash equivalents	1,061,470	436,684
	═══════	═══════

23.	OTHER FINANCIAL COMMITMENTS
		Land &	buildings	Other
	Group	2025	2024	2025	2024
	Amounts payable on leases which expire:
	Within one year	-	-	4,744	4,744
	Within two to five years	-	-	5,061	9,811
	Over five years	-	-	-	-
		───────	───────	───────	───────
		-	-	9,805	14,555
		═══════	═══════	═══════	═══════
24.	ANALYSIS OF NET ASSETS BETWEEN FUNDS
		Unrestricted funds
	Group	General	Designated	Restricted
		funds	funds	funds	Total
		£	£	£	£
	Fund balances at 31 December 2025 are
	represented by:
	Fixed assets	318,990	-	282,449	601,439
	Net Current Assets	127,711	941,474	67,393	1,136,578
		───────	───────	───────	───────
	Balance at 31 December 2025	446,701	941,474	349,842	1,738,017
		═══════	═══════	═══════	═══════

��

AGAPE MINISTRIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2025

25. RELATED PARTY TRANSACTIONS

Payments made to the Group from Trustees and their family members total £3,730 in 2025 (2024: £Nil). These were all donations towards the charitable activities of the Group.

26. PRIOR YEAR ADJUSTMENTS

Gifts in Kind totalling £1,145,463 were previously omitted from the financial statements for the year ended 31 December 2024. The comparatives have been amended to show these within income and expenditure. There is no net impact to the results for the year.

��

AGAPE MINISTRIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS Year ended 31 December 2025

STATEMENT OF FINANCIAL ACTIVITIES (Incorporating an income and expenditure account) Year ended 31 December 2024

		Unrestricted	Restricted	Total funds
		funds	funds	2024
	Notes	£	£	£
INCOME AND ENDOWMENTS FROM:
Donations and Legacies		4,129,268	80,836	4,210,104
Gifts in Kind		-	1,145,463	1,145,463
Charitable Activities		121	-	121
Other trading activities		20,911	-	20,911
Investments		30,218	-	30,218
		───────	───────	───────
TOTAL INCOMING RESOURCES	2	4,180,518	1,226,299	5,406,817
		───────	───────	───────
EXPENDITURE ON:
Raising funds	3	100,337	-	100,337
Charitable activities	5	3,932,872	1,228,966	5,161,838
Other	4	13,892	-	13,892
		───────	───────	───────
TOTAL		4,047,101	1,228,966	5,276,067
		───────	───────	───────
Net (loss)/gain on investments		-	-	-
		───────	───────	───────
NET (EXPENDITURE)/ INCOME		133,417	(2,667)	130,750
Transfer between funds		2,600	(2,600)	-
		───────	───────	───────
Net movement in funds		136,017	(5,267)	130,750
Fund Balances at Beginning of Year		1,188,338	324,483	1,512,821
		───────	───────	───────
FUND BALANCES AT END OF YEAR		1,324,355	319,216	1,643,571
		═══════	═══════	═══════

AGAPE MINISTRIES LIMITED

AGAPE MINISTRIES LIMITED

CONTENTS

AGAPE MINISTRIES LIMITED

COMPANY INFORMATION

OTHER TRUSTEES

REGISTERED OFFICE

BANK

SOLICITORS

AUDITOR

AGAPE MINISTRIES LIMITED

REPORT OF THE TRUSTEES

Structure and Governance

Governing Document

The Trustees

Appointment of Trustees

Organisation

AGAPE MINISTRIES LIMITED

REPORT OF THE TRUSTEES

Risk Management

Responsibility of trustees

Statements as to disclosure of information to auditors

AGAPE MINISTRIES LIMITED

REPORT OF THE TRUSTEES

Objectives and activities

Our Purpose

Our Vision

Our Values

AGAPE MINISTRIES LIMITED

REPORT OF THE TRUSTEES

Our Mission

Public Benefit

Volunteers

AGAPE MINISTRIES LIMITED

REPORT OF THE TRUSTEES

Achievements & Performance

Student Ministry

Workplace Ministry

Family Ministry

Digital Ministry

AGAPE MINISTRIES LIMITED

REPORT OF THE TRUSTEES

Global Ministry

Church Engagement

Global Aid Network (GAiN) UK

Central Services

REPORT OF THE TRUSTEES

What’s next in 2026?

AGAPE MINISTRIES LIMITED

REPORT OF THE TRUSTEES

Financial Review

AGAPE MINISTRIES LIMITED

REPORT OF THE TRUSTEES

The Trustees’ Reserve Policy

AGAPE MINISTRIES LIMITED

REPORT OF THE TRUSTEES

Auditors

AGAPE MINISTRIES LIMITED

INDEPENDENT AUDITOR’S REPORT

___________

Opinion

Basis for opinion

Conclusions relating to going concern

Other information

AGAPE MINISTRIES LIMITED

INDEPENDENT AUDITOR’S REPORT

___________

Opinions on other matters prescribed by the Companies Act 2006 and the Charities and Trustee Investment (Scotland) Act 2005, regulations 6 and 8 of the Charities Accounts (Scotland) Regulations 2006 (as amended).

Matters on which we are required to report by exception

Responsibilities of Trustees

AGAPE MINISTRIES LIMITED

INDEPENDENT AUDITOR’S REPORT

___________

Auditor’s responsibilities for the audit of the financial statements

AGAPE MINISTRIES LIMITED INDEPENDENT AUDITOR’S REPORT

___________

Use of the audit report

AGAPE MINISTRIES LIMITED

AGAPE MINISTRIES LIMITED