Scottish charity number=
SC046204
Catalyse Change
Annual Report and Financial Statements
For the year ended 31 December 2024
El Cornerstone
ACCOUNTING

Catalyse Change
Contents of the Financial Statements for the year ended 31 December 2024
Page
Report of the Trustees
Report of the Independent Examiner
Statement of Financial Activities
Balance Sheet
Notes to the Financial Statements
8-12

Catalyse Change
Report of the Trustees for the year ended 31 December 2024
The Trustees present the annual report and accounts for Catalyse Change for the year ended 31 December
2024.
Reference and administrative detai15
Principal and registered office
Central Hall
2 West Tollcross
Edinburgh
EH3 9BP
Bankers
Bank of Scotland
Teviot House
Edinburgh
EH12 9DR
Constitution, governance and management
The Charity is a Scottish Charitable Incorporated Organisation ISCIOI established on 15 December 2015 and
registered under charity number SC046204. It is governed by its constitution which states the purposes of
the Charity as..
to advance the Christian religion,. and
to prevent or provide relief of poverty.
The Charity's stated aims are that it exists to empower leaders, impact communities and transform culture
through coaching, communication and collaboration activities.
The Trustees who served during the year were as follows..
Convenor
Secretary
Treasurer
The constitution requires a minimum of 3 Trustees and a maximum of 9. At each AGM, all of the Trustees
must retire from office but are eligible for re-election.
New Trustees are invited to joirb the Board by the serving Board at any time and are inducted into the
workings of the Charity by existing Board members.
The responsibility for strategic management of the Charity is held by the Trustees who delegate operational
management to
Head of Operations.
Activities, achievements and performance
From january 1st to December 31st, 2024, Catalyse Change ICC) continued to fulfil its charitable mission by
delivering learning communities and training events Iprimarily onlinel to leaders across Europe, Africa, Asia,
Australasia, and North America. These efforts were aimed at advancing the Christian faith while sharing
finances and resources with Christian entrepreneurs in Africa and Asia committed to advancing the common
good and driving poverty relief.
As hybrid and remote working become the norm, online training has proven to be the most agile and widely
accepted platform for delivering Cc's tailored training across all initiatives. In-person training sessions were
held where logistical conditions allowed, bringing together leaders in a dedicated learning environment and
fostering collaboration to maximise the impact of contextualised training.
Page I

Catalyse Change
Report of the Trustees for the year ended 31 December 2024
Activities, achievements and performance Icontinuedl
Cc's continued focus was on empowering leaders, churches, and organisations to engage in disciple-making,
leadership development, community engaEement, and social entrepreneurship. This applied whether they
were established businesses, charities, churches, denominations, organisations, or entrepreneurs seeking to
pioneer new initiatives that advance the common good.
As in previous years, numerous events were held across various countries, where we coached leaders to run
their own online training sessions. Our support involved contextualising our content to meet their needs,
with the ultimate goal of helping them fulfil their vision and grow a5 leaders in their own context, culture,
language and ministry or organisational form.
In 2024, CC continued to build on its established partnerships with leaders, churches, and Christian
organizations across Africa and Asia, providing training and support to help catalyse movements aimed at
unlocking potential and creating positive change. In Kenya and India particularly, we supported local leaders
who are now forming new networks, building strong relationships, and connecting with the wider CC
network, and this work is growing into other Asian countries (from the base in Indial and East Africa (from
the base in Kenya). These connections enabled leaders to take greater ownership of their vision, develop
strategies, and expand their work within their own national contexts.
With secured funding, two significant training initiatives were launched in India. The first focused on Strength
and Leadership Development and Facilitation and StrateEic Planning, while the second aimed to equip
Christian women entrepreneurs to bring positive change to their local communities. Both projects will
continue into 2025, with the CC team providing ongoing online collaboration supporting leaders as they
adapt the training to their local contexts and continue building strong relational networks at both local and
national levels.
Over the course of the year, our Creo initiative Iworking with Christian Entrepreneurs and Faith-Driven
Organisationsl engaged with 29 individuals who were given training through Lab, Accelerator or Bespoke
coaching participation. We continued to use Content, Coaching and Community as a framework - knowing
that many Christian entrepreneurs feel under-preparedlequipped or are missing key competencies they
need Icoachingl,. they are unsure of what they don't know or aware of key areas of deficit in their
learning/understanding Icontentl- and they often can feel isolated or lacking key connections for their
venture Icommunityl. This year, our focu5 was on delivering a diverse range of projects through Creo
Consulting, empowering charities and faith-driven organizations by sharpening their strategic direction,
refining their orEanisational culture, strengthening leadership effectiveness, and improving overall
organisational health.
This year, four CC employees were contracted by the Us-based MLC charity IMLCI to help advance its global
initiatives and publishing efforts. These CC employees delivered leadership, publishing and administrative
services to MLC throughout 2024. MLC'S vision and values align closely with Cc's, as both are committed to
identifying, training, and empowering movement catalysts and share the overarching mission of advancing
the Christian faith. An Affiliation Agreement between CC and MLC is currently being finalised to establish a
strong, collaborative relationship based on confidence and trust, ensuring both parties work towards a
shared goal.
Page 2

Catalyse Change
Report of the Trustees for the year ended 31 December 2024
Plans for the future
Our plans for 2025 onwards are to:
11 Continue to support and edify the work in a few specific African and Asian countries, through the
networks and partnerships established, empowering movement leaders to run national conferences and
regional training events in their local context. The aim would be to create and support contextual leadership
teams that take more ownership of the vision, training, and network in their regions.
21 Deliver leadership, editorial and administrative services to the U5501C3 Icharityl MLC by increasing
visibilityi credibility, brand strength, and developing strategic partnerships in order to increase global
awareness and meet the MLC charity's objectives.
31 Strengthen and develop our online training work and consultanry through the Creo initiative with the
aim of connecting and training Christian entrepreneurs and faith-driven organisations. The free Catalyst
Course15 sessions), our 9-month Lab, bespoke Coaching for entrepreneurs, and we will also continue to work
intentionally to serve and partner with Faith-driven Organisations offering coaching, training and consultancy
in particular areas. All of this work will continue to be delivered, developed, and tailored to each
entrepreneur's and orBanisation's needs in the year ahead.
Financial review
Principal sources offunding
The Charity 15 primarily funded by income from charitable activities, mainly coaching leaders.
Re5uftsfor the yet7r
The Accounts for the year are set out on pages 6 to 12. The Statement of Financial Activities on page 6 shows
a surplus of £48,37712023- deficit of £41,766), comprising a surplus on unrestricted funds of £15,69412023..
deficit of £44,166) and a surplus on restricted funds of £32,68312023.' surplus of £2,400).
Reserves
Reserves are required to ensure the continuity and resilience of the service provision by the Charity. The
reserve will support the organisation's cash flow, lessen the impact of late payments and ensure any
unforeseen day to day operational costs are covered.
The Trustees have set the level of reserves as £60,000 of general funds, to balance the effects of any shortfall
in income while preventinE excess reserves buildinE up in the Charity. This has been calculated to ensure
salary costs ar)d charity contributions can be covered for a period of 6 months. This would allow time for
new funding stream5 to be sourced as well as reviewing the levels of expenditure to make any necessary
adjustments. This policy is reviewed annually.
Per the Balance Sheet on page 7, the general fund at 31 December 2024 amounted to £44,223 12023..
£28,529) which is below this threshold. At the June 2025 Trustee meeting, the Trustees discussed and agreed
to maintain the current level at £60,000, with a commitment to monitor it closely throughout the year.
ststement on risk
The Trustees have a duty to identify and review the risks to which the Charity is exposed and to ensure
appropriate controls are in place to provide reasonable assurance against fraud and error. The Trustees have
considered those risks and are satisfied that they have introduced procedures to mitigate the possible effects
of those risks.
Page 3

Catalyse Change
Report of th• Trust•es for the year ended 311)ecember 2024
Statemert of responslblllths of the 1n￿tee5
Charlty law requlres the Tru5tee5 to prepare financial statements for each flnanclal year whlch gfve a true
and falr vlew of the state of affairs of the Charity and of its income and expeTrdltU￿ for thatyear.
In weparing these financial statements, the Trustees are required to:
select suitsble accounting policies and then apply them consistently.
observe the methods and princlples in the applicable Charltles SORP;
make judgements and esNmates that are reasonable and prudent:
State thether appllcable accountin8 standards and ststements of rffommend•d practlcè bo•n
followed, subject to any departures disclosed and explained In the financial statements," and
prepare the flnanclal ststements on 8oln8 concern basls unless It15 Inapproprlate to pre5urne that
the Charity will (C￿tIn￿ in operatiTr).
The Trusrees are responslble for koeplng proper accountlng records which disclose with reastsnable
accuracyatanytime the financial position of the Charty and enablethe Trustees to ensurethatthe financlal
statements comply wlth the Charltles and Trustee Investment {kotlandl Act 2￿5 and the Charitles
Accounts (Scotlandl Regulations2(X161as amended). The Trustees are also re5Fxynsible fortaking such steps
as are reasonably open to them to safeguard the Charws as*ts andto prevent and detertfraud and other
irregularities.
Approved by the TrusteÈs 3nd si
ned on their behalf on 19 June 2025:
Page4

Catalyse Change
Report of the Independent Examiner to the Trustees for the year ended 310ecember 2024
I report on the accounts of the Charity for the year ended 31 December 2024 which are set out on pages 6
to 12.
Respective responsibilitie5 of Trustees and Examiner
The Charity's Trustees are responsible for the preparation of the accounts in accordance with the terms of
the Charities and Trustee Investment (Scotlandl Act 2005 and the Charities Accounts Iscotlandl Regulations
2006 las amended). The charity Trustees consider that the audit requirement of Regulation 10111 lal to Icl
of the 2006 Accounts Regulations does not apply. It is my responsibility to examine the accounts as required
under section 4411) Icl of the Act and to state whether particular matters have come to my attention.
Basis of Independent Examinerfs statement
My examination is carried out in accordance with Regulation 11 of the Charities Accounts 1Scotlandl
Regulations 2006 las amended). An examination includes a review of the accountin8 records kept by the
Charity and a comparison of the accounts presented with those records. It also includes consideration of any
unusual items or disclosures in the accounts, and seeks explanations from the trustees concerning such
matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and
consequently I do not express an audit opinion on the view given by the accounts.
Independent Examlnerfs statement
In the course of my examination, no matter has come to my attention
l. which gives me reasonable cause to believe that in any material respect the requirements..
to keep accounting records in accordance with Section 4411) lal of the 2005 Act and Regulation 4 of
the 2006 Accounts Regulatlons las amended), and
to prepare accounts which accord with the accounting records and comply with Regulation 8 of the
2006 Accounts Regulations las amended)
have not been met, or
2. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the
accounts to be reached.
Date.. 24 June 2025
Cornerstone Accounting Ltd
Chartered Accountants
11 Erngath Road
Bo'ness
EH519DP
Page 5
El Cornerstone
ACCOUNTING

Catalyse Change
Statement of Financial Activities
For the year ended 31 December 2024
General Restrlcted
fund
funds
2024
Total
General Restrlrted
fund
funds
2023
Total
Notes
Income and endowments
Donations and legacies
Income from charitable activities
Other income
29,260
47,702
29,260
283,777
5,OCKI
18,OCKI
5,OC(J
282.961
406
236,075
264,961
406
Total income and endowments
236.075
76.962
313.037
265,367
23,000
288,367
Expendlture
Raising funds
Charitable activities
1,490
218,891
1,490
263,170
1.940
307.593
1,940
328,193
44.279
20,6C￿l
Total expenditure
220,381
44,279
264,660
309.533
20,600
330.133
Net Incornel{expendlture)
15,694
32,683
48,377
144,1661
2,4
141,7661
Transfers between funds
Net movement In funds
15,694
32,683
48.377
144,1661
2,4CN)
141,7661
Total funds brought forward
28.529
7.900
36.429
72,695
5,5(X)
78,195
Totsl funds carrled forward
44.223
40.583
84.806
28,529
7,9
36,429
Represented by:
General funds
Restricted funds
44,223
44,223
40,583
28.529
28.529
7,9C
40,583
7,9CK)
Total fund5
44,223
40,583
84.806
28,529
7,9
36,429
The notes on pages 8 to 12 form part of these flnanclal statements.
Page 6

Catalyse Change
Balance sheet
As at 31 December2024
GeMr*l R•Strle
funds
2024 General Restrlcted
fu￿ts
funts
2023
To￿1
Debtors
Cash at bank and In hand
810
810
1.050
35,839
1,050
43,739
Toi*l umnt a
49341 89P
36A89
44.789
U•UIft
Creditors: faUln8 due within one year
5Jl8
5.118
8.360
24529
36A29
Totsl a%Mts hss curr•nt IhblHtI•s
44223 40W3 84
28.519
36,429
44223 40,583 84N6 28.529
36.429
Funds ofthedwrfty
Ger*rnl funds
Restrlcted fvnds
28,529
28.529
44AZ3 40￿8>
28.529
36,429
Theflnanclalststementson pa8e5 6t0 12 wue apprwl by the Trurtees on 19Jurn 2025 and SIW￿d on thelr behalfby:
Convenor
The rK>tes on pages 8t0 12 fonn part ofthese flnancla statsmtnts.
Poae 7

Catalyse Change
Notes to the financial statements
Forthe year ended 31 December 2024
l. Accounting policies
A¢¢ouniltrJg cotrjventlon
The financial staternent5 are prepared under the historical cost convention and in accordance with FRS 102, and in compliance
with the Charities SORP 2019 IFRS 1021, the Charities and Trustee Investment Iscotlandl Act 2005 and the Charities Accounts
(Scotlandl Regulations 2006 las amended). The principal accounting policies adopted in the preparation of the financial
statements are Set out below.
Catalyse Change meets the definition of a public benefit entity under FRS 102.
Bosls oAAlnonclulstutements
The financial 5tatement5 have been prepared on the accruals basis. The Trustee5 consider that there are no material uncertaintie5
so the accounts have been prepared on a going concern basis.
Income und debtors
All in¢ome Is recognised when the Charity is legally entitled to the income, any performance conditions attached to the income
have been met, it 15 probable that the incorne will be received and the amount can be measured reliably.
Debtors are valued at cost at the ye3r-end and adjusted for any amounts considered to be irrecoverable.
Expendlture ondcredltors
Expenditure is accounted for on an accruals ba515 and has been classified under headin85 that aggregate all cost related to the
category. Support cost5 are those costs incurred directly in support of expenditure on the objects of the charity.
Creditors are valued at cost ai the year-end and split between amounts due in less than one year and amounts due in more than
one year.
Taxation
The charity is exempt from Corporation Tax on its charitable activities.
Cosh ot bt¥nk otrjdln hgnd
Cash at bank and in hand includes cash and Short term highly liquid investment5 With a Short maturity of three months or less from
the date of acquisition or opening of the deposit account.
Fund c¢ccountln9
For the purpose of the Statement of Financial Activities, fund5 4re defined as follows..
Unrestricted general funds comprise income received for the objects of the charity without further specified purpose and are
available as general funds.
Unrestricted deslgnated funds Comprlse those funds rlngfen¢ed bytheTrustees for a partl¢ular purpose in the year ahead.
Restricted funds comprise income which has been received for the objects of the charity and specified for a restricted purpose
within these objects by the donor.
Petrjsions
The chèrity operate5 a defined contribution pension 5cherne. The pension charge repre5ent5 the amount payable by the charity on
behalf of its ernployees.
Donoted goods ondseThices
I coach donated sorne of their time to the Charitythis year.
Page 8

Catalyse Change
Notes to the financial statements
Forthe year ended 31 December 2024
2. Donatlons and leiades
2024
Ae5trf(ted
funds
2023
Restricted
funds
General
funds
General
funds
Totsl
Total
Grants retelved
29.260
29.260
29.260
29.260
The following grants were received in the year..
P27 Trust
Souter Trust
15.0(rfl
15.OCLI
I5.0￿)
We are extremely grateful to all of ourfunders for the grants they have provided thls year.
3. Income from charitable ackivrties
2024
Restrlded
funds
2023
Restritted
funds
General
fund$
fjeneral
funds
Totsl
Total
Coachin8 income
Publishing income
Travel costs reimbursed
172,832
60,938
2,305
47,702
220.534
60.938
2.305
196,130
68,831
18,(KX)
214,130
68,831
136,075
47,702
183.777
264,961
18,(XK)
282,961
4. Corts of ralslng funds
2024
Restricted
funds
2023
Restricted
funds
General
fvnds
General
fvnds
Totsl
Total
Staff salarles
1,490
1.490
1.940
1,940
1,490
1.490
1,940
1,940
Page 9

Catalyse Change
Notes to the financial statements
Forthe year ended 31 December 2024
S. Expendlture on tharftable adlvltles
2024
Ae5trlcted
funds
2023
Restricted
funds
General
funds
General
funds
Totsl
Total
Stsff costs:
Staff salarfes
Ernployer Nl
Employer pension5
Other staff costs
Direct c05t5 of charitable actNrties:
Coaching fees
Community of practice fees
Travel, subsistence and meetin8 Costs
Publi5hin8 Costs
CREO costs
Overseas coachlng costs
Overseas donatlons
Support ¢ost$ of ¢harltable arth￿0$.
Oflice rent and venue hire
Insurance
IT and telephone costs
Materials. printin8 and statlonery
Subscription costs
Legal costs
Accounting support C05t5
Independent exarnination fee5
158,289
9,298
4.71
162,989
9.298
211.761
16.105
10,307
211,761
16.105
10,307
7,557
8.122
4,580
553
.129
22.816
5,128
8.122
4,580
553
8.129
37.916
9,128
20,174
8.113
Z9.616
28.287
Z9.616
15.l¢J)
1.5
1,380
3.280
399
1.061
28
1,287
410
3,280
399
1,061
28
1,287
410
1,501
1,501
2024
2023
1,200
720
6.630
720
6.630
Foreign currenry1055es
Bad debt expense
Bank char8es
3,532
120
1,220
3.532
120
1.220
872
872
Totsl expendlture
218,891
44.279
263,170
307.593
20,6CM)
328.193
Support costs have not been separately identified as the trustees consider there 15 only one charitable artivity.
The average number of staff during the yearwa5 712023: 71. One employee wa5 paid more than £60,000 Ile$sihan £70,000> in the
Key Management Personnel of the Charity is defined as the CEO only. His remuneratioTh (including employer Nll totalled £75.96S
12023., £75,965).
No accrual has been made foi holiday pay at the year*nd as there were no material amounts due.
6. Debtors
2024
Restrlrted
funds
2023
Restricted
funds
Gtneral
funds
General
funds
Totsl
Total
Trade debtors
810
810
1,050
1,050
810
810
1.050
1.050
Page 10

Catalyse Change
Notes to the financial statements
Forthe year ended 31 December 2024
7. Credttors: falllnK ￿thIn one year
2024
General Restrlcted
funds
funds
2023
Restricted
funds
General
funds
Total
Total
Trade creditor5
Accruals and deferred income
Taxatlon and soclal securlty
Other credltors
14
14
1.2(Kl
2.915
2,046
720
5.594
720
5.594
2.915
5,118
5,118
8,360
8.360
Funds movements
Current year
Balance at
l Jon 2024
BBlance at
Transfer$ 31 De¢ 2024
In¢tyne E¥pendlture
Unfestrfrtedfvnd&'
General fund
28.529
236.075
1220,3811
44,223
Total unrestritted fun(ts
Z8.529
Z36,075
1220A811
44.ZZ3
Restrirtedfvnds..
Kenya fund
India fund- women'5 training programme
India fund- MLC entrepreneur's programme
CREO restricted income fund
11.7
15,CXX)
47.702
2,5(K)
11,760
2,223
19.7SO
6,850
112,7771
127,9S21
13,5501
7.9(
Total restricted funds
7.9
76,
144,2791
40.583
Total ¢harlty funds
36.429
313,037
1264,6601
Prforfvtar
Restoted
B•lun¢e ot
l Jon 2023
lrtome Expendlture
Trtsnsfvrs 31 Der2023
Unrestrlrtedfvndj
Generolfvnd
72,695
265,367
(309,533J
28,529
Total vnrestrittedAunds
72,695
265,367
(309.533J
28.529
Indlofvnd. womens trnlnlngprogrnmme
Kenyofund
CREO restricted incomefund
5,500
23.000
(15.lOOJ
7.9Lkl
5.500
23.000
(2Q.600)
7.9LKJ
Totul¢harltyfvnds
78,195
288.367
{334133J
36.4Z9
Explt7notlon olfunds
The General Fund represents all income and expenditure relatiryto the primary focus activitie5 of the charity, otherthan those
The Kenyclund represents funds donated for entrepreneurial and coaching work in Kenya.
The Indialund- women's tmininyprouromme ￿preSentS funds donated for ¢oachin8 work in Indla.
The Indiufvnd- MLCeTrtrepeneursprogromrne representsfunds donated for entrepreneurial aThd coachin8 work in lThdia.
The CREO resrrltted Incomefund represents funds recefved speclflcallyto support Indlvlduals on the CREO programme.
Page 11

Catalyse Change
Notes to the financial statements
Forthe year ended 31 December 2024
Penslon tommltments
The Charity operates an auttrenrolment pension scheme with The People's Pension for all eliEible employees. Employer
contribution5 to the scheme are disc105ed in note 5.
10. Trustee and related party transactions
No Trustee received any retnuneration during the ye3r in their role a5 Trustee12023'. nill.
who is a Trustee, was employed by the Charity as Team Leader/CEO of the organisation 8nd was paid a salary of
£65,000 plus pension of E3,25012023.. £65,000 plus E3,2501.
also received reimbursement of expenses amounting to £2,850
12023.. £2,988).
l Trustep.
benefitted from coaching services provided by the Charity at commercial rate5.
as employed by the Charitv as Publisher, working on the 100M Publishing
Init13tive. and was paid a salary of £40.500 plus pension of £2,02512023.. £45,000 plus £2,250).
Page 12