Scottish charity number.. SC046204 Catalyse Change Annual Report and Financial Statements For the year ended 31 December 2025
Catalyse Change Contents of the Financial Statements for the year ended 31 December 2025 Page Report of the Trustees Report of the Independent Examiner Statement of Finan¢ial Activities Balance Sheet Notes to the Financial Statements 8-11
Catalyse Change Report of the Trustees for the year ended 31 December 2025 The Trustees present the annual report and accounts for Catalyse Change for the year ended 31 December 2025. Reference and admlnlstratlve details 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 coachin8, communication and collaboration activities. The Trustees who served durin8 the year were as follow5.. Egil Ellingsen Miles Protter Rev Dr Nike Adebajo Richard Robin50n Amy Page-whiting Annwen Stone Andrew Vertigan David Rosser Jenifer Rosser Secretary Treasurer lappointed 24 March 20261 lappointed 24 March 20261 lappointed 24 March 20261 Iresigned 19 June 20251 (resigned 19 June 20251 The constitution requires a minimum of 3 Trustees and a maximum of 9. At each AGM, all of the Trustees must retire from offite but are eligible for re-election. New Trustees are invited to join the Board by the serving Board at any time and are inducted into the workings of the Charity by existing Board member5. The responsibility for strategic management of the Charity is held by the Trustees who delegate operational management to Sarah Burch, Head of Operations. Activities, achievements and performance From January 1st to December 31st, 2025. Catalyse Change ICC) continued to fulfil its charitable mission by delivering learning communitie5 and training events Iprimarily online) to leaders across Europe, Africa, A513, Australasia, and North America. Advancing the Christian faith is our aim while sharing finances and resources with Christian entrepreneurs in Africa and Asia committed to advancing the common good and relieving povertv. Cc's continued focus was on empowering leaders. churches. and organizations to engage in disciple-making, leadership development, community engagement. and social entrepreneurship. This applied whether they were established businesses. charities. churches. denominations. organizations, or entrepreneurs seeking to pioneer new initiatives that advance the common good.
Catalyse Change Report of the Trustees for the year ended 31 December 2025 Actlvltles. achlevements and performance (contlnued) As in previous years, events were held across various countries, where we coached leaders to run their own online training sessions. Our support involved contextualizing our content to meet their needs, with the ultimate goal of helping them fulfil their vision and grow as leaders in their own context, culture, language and ministry or organisational form. In 2025, 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 leader5 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 Ifrom the base in India) 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 and East Africa. A successful leadership and stewardship training model was established in India with 16 facilitators conducting 48 regional workshops and impatting 1.148 participants across India. Through relational formation and practical tools, leaders experienced personal transformation and the initiative fostered a growing network of collaborative leaders committed to cultivating a sustainable, gospel-shaped culture of generosity and maturity. In East Africa, a Creo Venture Lab supported 17 entrepreneurs with a tomprehensive curriculum and 286 hours of l.'l and Broup coaching between April and November 2025. Contextualised resources were produced and learning materials, and the Lab will conclude in 2026 with the distribution of nine micro-grants to the most promising ventures. Over the course of the year, our Creo initiative (working with Christian Entrepreneurs and Faith-Driven Organizationsl engaged with individuals who were given training throvgh Lab, Accelerator or Bespoke coaching participation. We continued to use Content, Coaching & Community as a framework- knowing that many Christian entrepreneurs leel 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 learninglunderstanding Icontentl,. and they often can feel isolated or lacking key connections for their venture Icommunityl. This year, our focus was on delivering a diverse range of projects through Creo Consulting, empowering charities and faith-driven organisations by sharpening their strategic direction, refining their organisational culture, strengthening leadership effectiveness, and improving overall organisational health. This year, four CC employees were contrarted 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 2025. 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 finali5ed to establish a strong, collaborative relationship based on confidence and trust, ensuring both parties work towards a shared goal. Plans for the future Our plans for 2026 onwards are to- l. 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, and the training of Christian entrepreneurs in their initiatives. The aim would be to create and support contextual leadership teams that take more ownership of the vision- training pastors. leaders and entrepreneurs.. and network in their regions.
Catalyse Change Report of the Trustees for the year ended 31 December 2025 Plans for the future (continued) 2. Deliver leadership. editorial and administrative seNices to the U5501C3 (Charity) MLC by increasing visibility, credibility, brand strength, and developing strategic partnerships in order to increase global awareness and meet the MLC charity's objectives. 3. Develop the UK expression of M4 with networking. training and creating contextualised resources. M4/Europe is a church planting movement who serve and equip regional leadership teams to collaborate in recruiting, assessing, traininE and coaching church planters and their teams with the aim of planting churches that glorify God and impact Society. 4. Strengthen and develop our online training work and consultancy through the Creo initiative with the aim of connecting and training Christian entrepreneurs and faith-driven organisations. A new white label offering will be launched as Creo collaborates with partners to offer entrepreneurs the Creo programme in the partners context and branding. The free Catalyst Course Iself-led course lasting 4 sessions), our 9- month Lab, bespoke coaching for entrepreneurs, and a new Ignite course (cohort for early-stage Christian entrepreneur51 will be part of this offer. We will 3150 continue to work intentionally to serve and partner with Faith-driven Organisations offering coaching, training and consultancy in particular areas. This work will tontinue to be delivered, developed, and tailored to each entrepreneur's and organisations, needs in the year ahead. Flnanclal revSew Prlnclpal sources offvndinq The Charity is primarily funded by income from charitable activities, mainly coaching leaders. ResultsAor the yeor The Accounts for the year are set out on pages 6 to 11. The Statement of Financial Activities on page 6 5how5 a surplus of £37,18412024.' surplus of £48,377), comprising a surplus on unrestricted funds of £57,27012024.' surplus of £15,694) and a deficit on restricted funds of £20.08612024: surplus of £32,683). Reserves Reserves are required to ensure the continuity and resiliente 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 maintained the reserves target at £60.000 of general funds, to balance the effects of any shortfall in income while preventing excess reserves building up in the Charity. This is calculated on the basis of ensvring that salary costs and charity contributions can be covered for a period of 6 months. This would allow time for new funding streams to be sourced as well as reviewing the levels of expenditure to make any necessary adjustments. Thi5 policy is reviewed annually. Per the Balance Sheet on page 7, the general fund at 31 December 2025 amounted to £101,49312024.. £44,223) which is above this threshold. The Trustee5 discussed and agreed to maintain the current level at £60,000, with a commitment to monitor it closely throughout the year. Statement 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 plate to provide reasonable assurante against fraud and error. The Trustees have considered those risk5 and are satisfied that they have introduced procedures to mitigate the possible effects of those risks.
Catalyse Change Report of the Trustees for the year ended 31 December 2025 Statement of responsibllltles of the Trustees Charity law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charity and of its income and expenditure for that year. In preparing these financial statements. the Trustees are required to- select suitable accounting policies and then apply them consistently,. observe the methods and principles in the applicable Charities SORP- make judgements and estimates that are reasonable and prudent,. state whether applicable accounting standards and statements of recommended practice have been followed, subject to any departure5 disclosed and explained in the financial statements; and prepare the financial statements on the going concern bas15 unless it is inappropriate to presume that the Charity will continue in operation. The Trustees are responsible for keeping proper accounting records whith disclose with reasonable accuracy at any time the financial position of the Charity and enable the Trustees to ensure that the financial Statements comply with the Charitie5 and Trustee Investment Ikotlandl Act 2005 and the Charities Accounts Iscotlandl Regulations 2006 las amendedl. The Trustees are also responsible for taking such steps as are reasonably open to them to safeguard the Charitvs assets and to prevent and detect fraud and other irregularitie5. Approved by the Trustees and signed on their behalf on l June 2026.. iknAdeb¢ytr Rev Or Nlke Adebalo Trustee
Catalyse Change Report of the Independent Examiner to the Trustees for the year ended 31 December 2025 I report on the accounts of the Charity for the year ended 31 December 2025 which are Set out on pages 6 to 11. Respertive responsibilities of Trustees and Examiner The Charity'5 Trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment Iscotlandl Act 21)05 and the Charities Accounts (Scotlandl 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. Basls of Independent Examinerfs statement My examination is carried out in accordante with Regulation 11 of the Charities Accounts (Scotlandl Regulations 2006 las amended). An examination includes a review of the accounting records kept by the Charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and 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 ¢ourse of my examination. no matter has corne to my attention l. which gives me reasonable cause to believe that in any material respect the requirements.. to keep accounting records in accordan with Section 44111 lal of the 2005 Act arbd Regulation 4 of the 2006 Accounts Regulations 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. AL¢4(M¢ FrLLth Alison Franks CA Director Date.. l June 2026 Cornerstone Atcounting Ltd Chartered Accountants 11 Erngath Road Bo'ness EH519DP Poge 5
Catalyse Change Statement of Fina ncial Activities For the year ended 31 December 2025 General Restricted fund funds 2025 General Restrirted fund funds 2024 Total Total Notes Income and endowments Donations and legacies Income from charitable activities 10.000 47.866 10.000 275.078 29,260 47,702 29,260 283,777 227.212 236,07S Total Income and endowments 227,212 57,866 285,078 236,075 76,962 313,037 Expendlture Raising funds Charitable activities 1.490 218,891 1,490 263,170 168,442 77,952 246,394 44,279 Total expendlture 169.942 77.952 247.894 220,381 44,279 264,660 Net Incomellexpendlturel 57.270 120.0861 37.184 15,694 32,683 48,377 Transfers between funds Net movement In funds 57.270 120.086) 37.184 15,694 32,683 48,377 Total funds brought forward 44,223 40,583 84,806 28,529 7,900 36,429 Total funds carrled forward 101.493 20.497 121.990 44,223 40,583 84,806 Represented by: General funds Restricted funds 101.493 101.493 20,497 44,223 44,223 40,583 20,497 40,583 Total funds 101,493 20,497 121,990 44,223 40,583 84,806 The notes on pages 8 to 11 form part of these financial statements.
Catalyse Change Balance sheet As at 31 December 2025 General Restrirted funds funds 2025 Total General Restricted funds funds 2024 Total Notes Current assets Debtors Cash at bank and Sn hand 7.912 l(Kl.264 7.912 120,761 810 48.531 810 89,114 20A97 40.583 Total current a55ets 108.176 20.497 128,673 49.341 40.583 89.924 Creditors.. falling due within one year 6.683 5.118 5.118 Net current assets 101,49a 20.497 121,990 44.223 40.583 84,806 Total assets les5 turrent Ilabllltles 101.493 20.497 121,990 44.223 40.583 84.806 Net assets 101,493 20.497 121,990 44,223 40,583 84,806 Funds of the charltv General funds Restricted funds 101.493 101,493 20.497 44,223 44.223 40,583 20.497 40,583 Total charlty funds 101,49a 20,497 121,990 44.223 40.583 84,806 The financlal statements on pages 6 to 11 were approved by the Trustees on l June 2026 and signèd on thelr behalf bv.. JthAd4baJ"tr Rev Dr Nlke AdebaJo Trustee The note5 on pages 8 to 11 form part ol these financial statements.
Catalyse Change Notes to the financial statements For the year ended 31 Detember 2025 l. Accounting policie5 Accoutjting convention The financial 5titement5 are prepaTed under the historical c05t 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 poliues 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 ofAlnt7nclolstotements The financial Statements have been prepared on the accruals ba515. The Trustee5 consider that there are no rnaterial uncertainties so the accounts have been prepared on a going COrern basis. Income onddebtors All Incorne Is reco8nlsed when the CharSty Is le8ally erttitled to the Inci)me, any performance conditlons atiached to the Income have been met, it is probable that the income will be received and the amount can be rneasured reliably. Debtors are valued at tost ai ihe year-end and adlusted for any amounts consldered to be lryecoverable. Expendlture 47nd ¢redltors Expenditure is accounted lor on an accruals basis and has been classified under headings that aggregate all cost related to the category. Support costs are those costs incurred direcily in supporr of expenditure on the objects of the charity. Credltors are valued at C05t at the year-end and split between amounts due in less than one year and amounts due in more th3n one year. Toxotkin The charity 15 exempt Irorn Corporation Tax on its charitable activities. Cosh ot bank ondln hond Cash ar bank and in hand includes cash and shor( ierm hi8hly liquld investments wlth a short maturity of three months or less from the date of acquisition or openin8 of the deposit account. Fund uccountlnq For the purpose of the Statement ol Flnanclal Aciivlties. funds are deflned as follows.. Unrestricted 8eneral funds eompvise income received for the objetts of the charity withoLrt further specified purpose and are available as general funds. Unrestrlcted designated funds comprlse those funds rinRfeThced by theTrustees for a particular purpose In the year ahead. Restricied funds comprise income which has been received for the obje¢ts of the charity and specified for a restricted purpose within these objects by the donor. Penslons The Charity operates a defined contribution pension xheme. The pension charge represents the amount payable by the charlty on behalf ol it5 employee5. 2. Donatlons and legacles 1025 Restwirted funds 2024 Restricted funds General funds General fvnds Total Total Donations received Grant5 received 11,760 17,$00 11,760 17,500 io,(xx) lo, 10.000 io,r 29,260 29,260 We are extremelygrateful to all of our funder5 for the g[ar they have PTovided thisyear.
Catalyse Change Notes to the financial statements For the year ended 31 December 2025 3. Income Irom charitable activitie5 2025 Re#rlued funds 2024 Restrlcted funds fjenerol fvnds General funds Total Total Coaching income Publishing income Travel cost5 reirnbursed 167.920 48,763 10,529 47 21S.786 48,763 10.529 172.832 60.938 2.305 47.702 220,534 60,938 2,305 227.212 4766 275,078 236,075 47,702 283,777 4. Costs of ralsln8 lund$ 2025 Restrlcted funds 2024 Restricted funds General fvnds General funds Totsl Total Staff salarie5 i.soo 1.490 1,490 1,5 1,51J) 1.490 1,490 S. Expendlture on tharltable actlvltl¢s 2025 Restwlrted fund5 2024 Restritted funds General fund5 General funds Total Total Staff costs: 135,685 6,737 7.208 19.722 155,407 6.737 7,208 158,289 9.298 7.909 4,700 162,989 9,298 7,909 Employer Nl Employer pensions Dlre¢t Costs of ¢horltable adlvllles: Coachin8 lees CREO costs MLC costs Travel, subsi5tente and meeting tosts Publishin8 Costs Overseas coaching costs Support costs ol ¢harltable a¢tlvltles= Office rent and venue hire Insurance IT and administration costs Subscription costs Accounting Support Costs Independent examination fees Foreign currency losses Bad debt expense Bank charges 7.557 20.174 1,850 8.113 9,407 28,287 4,9SO 2.965 1.504 240 14,560 4.302 19,510 7.267 801 4,444 29,616 240 39.437 39.368 29,616 1.380 409 1,380 409 419 419 1.180 1.560 1.180 1,560 697 1,501 360 1,2(K) 3,532 120 1,220 697 I,soi 360 1,200 3,532 120 1,220 1.200 1.352 1.2 1,352 993 993 Total expenditure 168A42 7T.952 246,394 218.891 44,279 263,170 Support Costs have not been sepavately identified a5 the trustee5 con5iderthere 15 only one charitable activity. The average number of sraff during the year was 712024.. 71. One employee was paid more than £60,0(K) in the year12024.. 11 and is disc105ed below. Key Management Personnel of the Charity is dehned a5 the CEO only. His remuneration liThcluding Employer Nll totalled £76,686 12024.. £75,965). No ac¢rJal has been made for holiday pay at the year-end as the were no material amounts due.
Catalyse Change Notes to the financial statements For the year ended 31 Detember 2025 6. Debtors 2025 Re#rlued funds 2024 Restrlcted funds fjenerol fvnds General funds Total Total Trade debtors 7.912 7,912 7.912 7,912 810 810 810 810 7. Crtdltors: falllng due wlthln one year 2025 Restrlcted funds 2024 Restricted funds General fvnds General lunds Total Total Trade creditors Accruals and deferred Income Taxation and 50clal security Other creditors 70 1.200 5A13 14 1,2C 2.915 989 14 1,200 2,915 989 1,2fy) 5.413 6,683 6,683 5.118 5,118 8. Funds mtsvemerfs Current year balan¢e at l J•n 2025 Balan¢e al Transfers 31 Oe< 2025 In¢omt Expendlturt Unrestrlrtedlunds.. General fund 44,223 227,212 1169,9421 1169.9421 101,493 Total unreslricted funds 44.223 227.212 IOIA93 Restrl¢tedlunds.- Kenya fund India fund- women's training pro8ramrne Indla fund- MLC entrepreneur's programme CREO restricted income fund Ethiopian CREO project fund Indlan MLC CREO training fund 2025 Total restricted funds 11.760 2,223 19,750 6.850 110,3601 1,400 2,223 119.7501 16,8501 io,c 47,866 10,000 6,874 140,9921 177.9521 40.583 57,866 20A97 Totsl ¢harlty lunds 285,07B 1247.8941 121,990 Prforyet7r B•lJn¢e •t ljon 2024 bolJn¢e #t TrL¥nsfrrs 31 Dec2024 Income Expenditure UnrestrktedAunds Generolfvnd 28.529 236.075 (220.3811 44,223 Totol unrestrirtedlunds 28,539 236,075 (220,3811 44,223 IndloAund- women's trolnlng progromme Kenyofund Indiofund- wornen's troining prograrnrne Indio[und- MLCentrepreneurs progromme CREO restricred incomefund 11.7f I5.XI 47.702 Z5(XJ 11,760 2,223 19,750 6,850 {12,777J 127,9521 {3,5501 76,962 (44,2791 40,583
Catalyse Change Notes to the financial statements For the yÈar ended 31 December 2025 8. Funds movements Icontinuedl Explunotlon offvnds The General Fund represents all income and expenditure relating tothe primary focus activities of the charity. other than those The KÈnyofund represents funds donated lor enlreprenerlal and coaching work in Kenya. The lfjcliJlund- wornen'5 truining prograrnme repre5ent5 fund5 donated lorcoaching work in India. The IndirJfund- MLCentrepeneur's progromme represents funds donated lor entrepreneurial and coaching work in India. The CREO restrirted irJ¢omelund represents funds receiveil specifically tts supkN)rt individuals on the CREO prograrnme. The Ethiopian CREO projectfund represents funds received to supp)rt individuals in Ethiopia on the CREO prograrnrne. The Indlan MLC CREO trolnlnglutr)d represents funds received to supwjrt ind6vidvals In Indla on ihe CREO programme. 9. Penslon commltments The Charity oper4te5 an aulo.enrolmeTht penslon Scheme with The People's Pension lor all ell8ible employees. Ernployer contributions to the scheme are disclosed in note 5. 10. Trustee and related party iransaalons No Trustee received any remuneration during the year in their role asTrustee12024.. Thill. RSchard RobSnson, who is a Trustee. was employed by the Charity as Team LeaderlCEO ol the organisatlon and was pald a salary of £65,000 plu5 pension 01 £2,99312024.. £65.(th plus £3,250). l Trustee. Mlles Protter, benefltted Irom coachlng services provided by the Charity at commerclal rates. Anna Robinson, who is the wife ol one ol the Trustee5, was ernployed by the Charity as Publisher, workin8 on the 100M Publlshing initiative, and was paid a salary of É36.000 plus pension of É1.71412024.. £45.LI)O plus £2.0251.