REGISTERED COMPANY NUMBER.. 0385¥051 (England and Wales) REGISTERED CHARITY NUMBER: 1077961 OSCR NUMBER: SCIM6952 Report of the Trustees and Financial Statements for the Year Ended 31st August 2025 for Watch Tower Bible and Tract Society of Britain
Watch Tower Bible and Tract Society of Britain Contents of the Annual Report ror the Year Ended 31st August 2025 Page Report of the Tru5t¢eB I to 10 Report of the Ind¢ptDd*nt Auditors 11 to 14 Statement of Financial Activities 15 Balanee Sheet 16 to 17 Cash Flow Statement 18 ote5 to the Finaneial Statements 19 to 30
Watch Tower Bible and Tract Society of Britain Report of the Trnstees for the Year F.nded 31st August 2025 The ttte%, who are also director8 of Walch Towcr Bible aJKI "fract Society of Britain (the Society) for Ihe puq)oses of the Companies Act 2006. pre8ent their report with the financial statements of th¢ Swiety for the year endcd 31 st August 2025, which havc bcen prepared in accordance with ihe charity goveming do¢um¢ni as refrrenced on page 8. The ttustees have adopted the provi%ions of Accounting and Reporting by Charities: Statement of Recommended Praclice applicable to charitie5 preparing their account$ in acwrdan¢e wilh the Financial Reporting Staftdard applicable in ihe UK aad Republic of Ireland (FRS 102) (effective 1st January 2019). This report includes the Directors Report as required by Company law. OWLCTIVLS AIYD ACtIVlTIES ObJeetives and #ims The Memorandum and goveming dUrnellt ststeg tliat the objectives of the Society are io advance thc Chrisiian religion as prdcticed by the body of Christian persons knowm as Jehovah's Witnesse& This is accomplished in parti¢ular but not exclusively.. producing audio and video material for Bible education. publishing. ]nwrting, exporting. recording, translating, producing, and disiributing Bible literdrnre. b. providing services and facilities for members of the Worldwide Orderof Special Full-TI¢ Servantsof Jehovah's Witnesses (the Order) and such other suppon as deemed appropriate frorn time to tiine- purchastng. building, and renovating properties for use by Jehovah'% Witnesse5 as places of worship as well as for other puryoses to support the Charity's objects., engaging in acts of charity, mercy. and humanitarian aid. and dislribuiing fvnds and goods to other entities ihat have similar airns. Slgnlfieant aetlvltles The major areas of activities for the year in quemion have been: Supporting entities with similar aims objeclives abroad. These donations have been in the fonn of goods such as paper for priniing and software lioence5. All sueh donations have promoted religiou8 a¢liviLy overseas. Thts activity also includes sending fvnds directly, primarily to such entities im developing ¢ountries, where funds are limited. These are us¢d for a¢tivities such as constrnction of places of worship and disaster relief. 2. Refurbishment of Kingdom Halls of J¢hovab's Witnesse8 (places of worship) and ihe construction of new Kingdom Hal]s. 3. Provision of facilities to assist m¢mbets of the Order. Pub15¢ benefit As eYiden¢ed in tbis repon, mucb has been accomplished by the Swiety in ihe year to advance ils objects for the publi¢ benefjt, The ¢onstruction work of places of wor¥hip facilitates the activity of Jehovah's Wilnes5e5. These facilities enable thern and others to ledm gudly values, promott respect for others, and practice qualities such as honesty and kindno4s. Impojtsntly. the Societ$ efforis ensure that individuals are not restricted by their background or financial circumstances from accessing ihe%e benefils. The benefits vf the Soclety's work extend beyond ils primary beneficiaries. Through its building projects, the Sitieiy creates altra¢tive and dignified struclures ihal enhance the character and visual appeal of local communities. Furtherniore, the Bible-based education delivered wiiliin ihese facilities cot)tributes pMi¢ively to the wiikr public environment. A key component of Ihis education encourages attendees to Cultivate atiitud&s and behaviours that help them be Considerate, rtsponsible, and supportive neighbours, thereby fosiering harn)onious community Telationships. Public benefit is also delivered internationally. The lety supports cntities abroad that share similaraims, enabling them lo achieve the objectives described above. Its ndIng has resulted in the construction of ncw places o( worship and ha8 supported relief initiaiives that provide significant assislancc to individuals attd their communities in rimes of urgentffteed. rurther details are presellted tn the Achicvcments and Perforniancc section of this report. The Trusttts Confim) that thcy have complied with their duty to have due regard to the Charlry Commission bmidance on public benefit when exer¢i.8ing any powers OT dutie8 to which the guidance is relevant.
Watch Toivcr Bibl¢ and Tract Soeiety of Brit8111 Report of the Trustees for tbe Yefir Ended 31st August 2025 oF.CT1VEs AND ACTIVITIF Social investments The Society has made ttvo social investments that support 1Ég charitsble objectives.. one facilitating access to placcs of worship in various patts of the ivorld. and another sirengihening financial infrasmicture for chariii&s with similar aims and objectives globally. The TrnSe$ are Confident in the rf0mlaCt of ihese investments and in their ongoing irnpact and alignment wilh the Society's aims and objectiV&8. Overseas Donation8 The 8ociety'% policy for making donatians lo other eniilies with %imilaT aimq and obj'ective% is a% follows. When an entity first prcsentq a necd due to insllfficicnt dtsnations w meet their aims, thc Sacicty conduct% due diligence to confimi these legal entities care for thc activities of Jehovah'$ Witnes$ in that country and that the proposed use of funds aligns with the Society's charitable purpos¢s. Once thi5 du¢ diligence is wrnpl¢ted, the Society establishes the relationship and sets out expectations for reporting and ]nonitoTing. ThertafieT, for the upco]ning year the Society consid8 requests from thets¢ verified l¢gal eDtitl¢S and considers if its aDDual budget for this activity ig su1¢Ien1. The appropriate use of funds is monitored ea¢h year. All donations made support the activities of Jehovah's Witnesses. Donated funds are used for builditjg places of WOTship, facilitation of religious worship, providing Bible-ba5ed literature and assibting wilh diwier relief. Indivtdual doThors to the Society are made aware of the worldwide nature of the Society'ts w¢)rk and dblivities. The Society also provides support to vverseas entitie8 by procuring and sending nece$$ary goods, matuials, and eouipment. in line with.8hared ¢horitable objectives where appropriaie. Mernbers of the Order llie Sociely is often asslsted by religious minislers wbo are mernbers of the Order. These individuals are not employed and do not receive remuneration or any benefit in kind for the activities or servic&s they perforni. Although sutli ones do at times help the Society, for instance, by assisting with building work. their service involves many other assignments iiot connected to ihe Society. Members perforni whatever the Order &&8ign% them to do in support of the activities of Jehovah's Witnesses. In addition. many individuals who are not members of the Order. but who arc Jehovah's Witne$ses, also frecly provide their time and resources io &ssist with needed work.
Wateh Tower Bible and Tract Society of Britain Report of the Trnstees for the Year Ended 31$t August 202$ STRATEGIC REPORT Achlevoments and performanee Charltable attivitieS- Asslsilng EntStie5 wlth Slmilar Aims Oyerscas DuTing the ycar the Society provided material and financial assistance to entities ofJehovah's Witn&%%&% with similar aims and objeetives in scveral countries. The aid, £65 million {2024.. £103 million) in was given to promote mis8ionary activity, &ssist with disaster relief. and support local entities. Direct fvnding of £37 million {2024.. £68 million) Wds sent to legal entities with.lMi1ar aim% and objeciives. the majority of which were based in Africa. In addition, £28 million {2024.. £35 million) wa5 spent on goods. and setvices for these entities. These include computer pmgrams, equipment and paper for printing activities. SoLwcing these items centrally and donaIll them allows for the besi use of donated funds. It also provides wch ¥o(NJs to eniiiies thai otherwise would slruggle to access then). Funding was received from eniiiies with similar al and objectives tbat had already met their local needs. Th¢ SocEery has access to excellent banking service5 in Britain and it is able Lo use these to pool and disiribuie these funds to entities with greater need8. The fund% are available for domestic needs ifnecessary. The re¢¢iving entiti&% with similar aims and objectives sent very satisfying reports regarding the activity supported. which resulted in physical, Spiritual a]Trd emotional support formarty beneficiaries. For exampl¢. in Zambia, ¢onslructi(>n projects were completed on 202 Kingdom Halls and 12 Assembly Halls, with 126 propety purchase& allowing benefieiaries to meet together in a clean and peaceful vironMent whilsi benefitting local ommunities there. In M032mbique, fund5 were used lo provide relief by providing basic supplies for those in need well as providing 7 newly coJJ5trucied Kinsdom Hall facilities. Funds sent to Ghana were used lo upgrade and improve many properties that facilitate WOTship and Bible edu¢ati<)n. AdditiL)nally, non-cash donations were made ro asslst in thcse building projec15. In Malawi, the receiving entity oversaw the reconstruclion and major renovation of buildings used for Bible education. including the constrnction of a new facility a8 a Bible educational centre providing free education for religious ministers. The above are just a few examples. SimilaT activittes look place in maTJy other Countries which the Swi¢ty a*8i8ts. Cbarit&ble 7&Ctivities- Building places of wonhip The Society completed one new ComtruCtiOn pmject, 19 majorrenovaiionprojecis, 86 minor renovation and maintenance project8 in the United K5ngdom. Onc especially notable project was the renovation of a Kingdom Hall in Cathcart. Glasgow, which will provide a suitable place of W0h]p. Charitable aetlvlties- Provlding scrviees to full-timc ministers Thc Sociely has a long history of charitable business activity, therefore is well placed to carry out a variety of aciivirie5 whcn a need arises. It cares ftt a small commissary and car garage at the headquarters of Jehovah's Witnesses in Britain. The Society also has a history of Shipping items around the globe and is able to use this io assist ministers and entities wilh similar objectives. Another major element of thi% activity comes from the trdnspcirt experience and supplier n¢two built up by the Society. As such this 8ervice can be made available to ministers for (heir religious activity. All of ihe above activities have been carried out successIlY during the year. Internal controls To 05SiSt ihe Society in achievin¥ 114 objectives. appropriaie internal controls have been established. These ensure thai the monihly financial reporL% accurately rq)reseni all trdnsaclions, provide reasonable assuranc¢ that findnces are being used foT their intended purpose, and verify thai proper controLs and procedures are in place. and adher¢d to.
Watch Tower Bible Ydnd Traet Society of Britain Report of the Trustees for the Year Ended 31st August 2025 STIL4TECIC REPORT Aehievemtnts ptrformaMee Seetlon 172(1) si#tement Thc knard of tru8tee% take into account the likely consequences of long-terrn decisioLs' build relationships With gtakeholders: understand the imwrtance of engaging with our volunteer8; undcrsthnd the impaci of our operations on the communities within which we operate: and aiiribuie importance to behaving as a res)nSIble organi5ation. The iN)ard of trnsiees Consider, both individually and iogether, thai through their strategic planning and decision aking, they have acted in the way they consider, in good faith, would be mosi likely to promote Ihe success of the charity for the benefit of lis sthkeholders as a whole (having regard to the srakeholders and matters set out in s172(1)la-fj of the Act) in the decisiot]s taken during the year ended 31 August 2025. Throughout the trustees, report examples are given where the trustees continue to exercise their duties With regard to atter5 related to Section 172. For instance, in the public benefit section. the ttustees confitTh that they have taken into regard the impact of the charity's Opeti95 on the community. As the board of trusttts. our it]lention is to behave respoJL%ibly and ensure thai m8nagemeni operate the cbarily in a rebyonsil)le manner. operaiing within the high standardb of business Lc)t)du¢i and good governance expected for a ¢harity such as our4 and in doin¥ so. will contribuie to the delivery of OUT objectives and aims. Flnancial revie Flnaneial position The So¢iety showed a defi¢it of £37.8 million th¢ Stht¢tnent of Fillancial Activities (SOFA} ai the 3 1st August 2025. Further infonnation is described ill the Reserves Policy and 'A55lSting Entities with Sitnilar and Obje¢iives Ov¢rs¢as' sectioll of this report. The aim5 and objectEV&S of the Society are ITr no way f]nancial, therefore tnorlitoring of .%pwific fitwi¢ial targets is not param(wnt. The ttustee% are pleased that they have been able lo hold futjds effectivcly and respond to worldwide needs &$ they atise. The Society's b&sic finattcial ain)s are to maintain a strong balance sheet, to preserve its purchasing power and to maintain its ability io respond quicldy to worldwide and local needs that may aTjSe. Prlneip&l futtdine wurees The Society currently has two furtding sourceg, Orte of which is the construction of new facilities or plac&8 of worship, which is Invoiced at cost to other charities with similar aims and objectives. The sIety reliesto a large exteni on voluntary donations io support itswork, and has a Consistent income 8tream through regular donation8 and l¢gacie.8 received. To .support the overseas donations paid out, the Society also has arrangements with otkn global eniilie8 Wjth 8imilar aims and objectives. to receive incoming donation. These fund% arrive when said entities have mei their local need%. This allows the Society to pool thc funds in banking institutions in Britain. ready and ble lo respond to worldwide nec(L8. Donations fram other cntiiies have reduced during the year, as other charities with imilar aims a1 ohjcctives arc currendy better placcd to support global nttd%, thtsugh the Society remains prepared to &*%ist were nceded. Overall. the INet$ are confident that the Society is in a strong financial SItIon as demonstrated by th¢ attach¢d fjnancial staiemenis.
Watch Tower Bible and Tract Society of Brit1 Report of the Trustees for tht Year Lnded 3Ast August 2025 STRA TEGIC REPORT inanelil review lllvestment poliey Ind obSeetlves The memordndum and articles give power Éo invest thnds in any law] manner having full regard its the suithbility of the investments, the need for diversification, and to be a socially responsible invesior having due consideration for the beliefs of Jeliovah's Witnesses. The objective of our invcstmentpolicy is to balance the following issues.. preserve the purchasing power, provide adequate liquidity. and to give consisteni long-tenn rctunL4. After adjusiing for inflow/ouiflows. the portfolio perfonnance wa% 4.81Q/o over the past year, with an inflation rate of 2.97 /0 in the year. The investment portfolio held 99.5 /0 in dtvcrsifitd liquid aiset%. The inLsiees remain ¢onfideni in the existing strdtegy, whieh Prioriiises diversiflcation by as5ei clw and currency, togeiher with appropriatc levels of inveslment-grade liquidity. Reserve5 pollcy At the year-end reserves, not including f¢d 8ss¢t$, Ènd swial investments. stood ai £184 million. All funds are unre8tricled. The Society's reserves policy is to hold approximately 12 monihs rnmiing expenditure, as well an appropriaie amounl for each country it &%SlSLS. Thi would allow the SocLety 10 continue with regular expenditure, and io respond to disasiers or othcr llnexpe£ted needs that could arise in mu]tiple Countries simulthneously. These reserves are therefore available to sllpport the Society's needs, as well a5 those of entities with similar aims and obje¢tiv¢s in other countries. The current reserves level 1$ in liue with this policy. The Society has a¢¢ess to effective banking and investment se1¢¢5. Th¢ fund¥- are therefore well Uiilised until they are ¢all¢d on. Worldwide needs can be responded to whenever ne¢essary from this pool of funds. This assistanc¢ Can be provided by sending fifftds, or acquiring and sendingv ne¢essary item¥. The twstees feel thai such a policy 15 prudenL in Itghi of the Sociely's plan5 and the current flnancial climate. They feel it makes best use of income and are ¢onfident that il does not adversely affect the Society's ability to both 5UStain and increase its activity. These reserves can therelore eontinue to be available for worldwide use as the need arises. G•lng concern The Ttustees have ¢onsidered the going concern basis of accounting and believe it to be appropriate, having regard to the Society's re8erves, foreLast income and expeDdilure, 2nd expected cash flows. Envlronment81 Performance The Society gives close allenlion to the environmental impaci of its con$ttvction and maintenance attivilies. Matters ¢onsidered inelude.. unused materia15, collsiruction waste managemetti, renewable encrgy sources, watcrmanagemeni and reduction of iravel times for volunteers working oll projects. Conservation surveys are comrni%sioned as necessary. l-he Society is committed to conducting its activities in a manner that ig scnsitivc to the needs and concerns of the surrounding inhabitants and environment,. to integrate cnvironmental issue% into deci8ion making: to reduce or eliminatc pollution and nuisance: lo minimise energy waste and materials,. to pr(>teci biodiver%ity and ecosysiems. io promote the use of 511Stainable, recyclable and renewable matuials,. awl to educatc and train volunteers in the use of environmentally conscious practices. Dunng the financial year the Society continued to incorporate sustainable design features into buildingg. There was particular fo¢u8 on fvrther refining the energy efftciertcy of ventilarion and healing systems. Policies wcre inlroduced io ensure thai bio-divltY is enhanced on rnajorrenovation projects and new build siies. For example, at aprojecl in Devon Ihe Society made extensive adju8tmont8 to standard plans 10 belter accommodate rare bat SFeeies and inLorporate staInable flood mitigation measures. The above inforniation enables the iNstees io report strong environmental trforniance for the year. It is in honnony with its overall aim%, that the Society has success11Y cared for the environment wherever it is operatin¥.
Watch Tower Bible and Traet Society of Britain Report of the Trustees for th¢ Year Ended 313t August 2025 STRATEGIC REPORT Prineipal risks and u]EcertAintles Fornial revicws have tsken place regarding the major risks to which Éhe Society is exposed. Sirniegic fegUardS are in place to reduce the impact of those ri4L% &% far a% possible. The Ri$k Register was upjaied most recently in July ?025. The principal Tisks aTJd uncertailllies facing (he Socieiy are.. failure to comply wlth legal requirements onh¢alth and 5gfely. fire, environment. waste: disaster in the consttuciion or matntenance of places of worship. The Society has limited exposure to price risk, credit risk, liquidity risk and cash flow risk. due tt) the ll8tuTe of its charitable aciiviiies. Failure to com with le alre irements. The Tn]stees recognise the critical iEllPOrtan¢¢ of adhering lo all legal, plannin&¥, and buildin¥ CODtroI requiremen. To mitigate the risk of n(-compli4nC¢. th¢ following M¢ure have been implemented.. Regular Trdining and Update5: Volunteers who assist in the relevanl areas of wot*. receive ongoing training on legal requirements and update% to ensure ihey are well-infotmed and compliant. Robust Monitoting System%'. MonilotingbysteTns are in place to track Compliamce withall applicable laws andregulations. Expert Conbultation.. Legal artd regulatory experts are tortsulted as required to review and advise on compliance ]natters. Clear DocuTnenlalion- All pffKedurcs and cOpIlanGe requirements are clearly documented and accessible to all relevat]t volunteeTh. Lly implementing these measures, the Tmstees are Confident that th¢ risk of non-compliance is effectively managed atml minimised. Disasier in ¢onstru¢tion acrivities. A cornprehensive health and safety file is prepared for cach project and managed by an on-siie management team. Site safety audit visits ale made twi¢e annually to the onsite team%. Additionally. each project mandaie% a weekly on-site safety audit. All repotts are centrally rcviemred by dedicated teams tt) identify and implcment necessary adjustments. Incidents oecurrirtg on site are ieviewed monthly to ensure that lesson8 leamed are applied across all operational areas. ConsiNction siies are rnn consisieni with Construction Industry Training Board Site Safety 4ualification& Strict compliance with building regulations i.s ensured and experts are fi)Ily utilised to maintain the highest standards. Construction volunteers attend safety and planntng seminars. Daily health attd safety meetiiigs are conducted on-site for each project. Addilionally, an a¢¢ident and near-miss reporting system is operational on-site to ensure continuous safely monitoring and improvement. Documented instnjctions are ddhered to by the on-site management teem& Relevant written m&teTials are provid¢d to assist them in maintaining health and safety stsndards. The Trustee4 are confident thai the aforementioned safety procedures and conirols effectively miiigate the Itk¢libood of serioub nsk m&tertalising. Future plans The Society wishe5 to continue providing maierial finan¢ia] assistan¢e to legal eJLtities with similar aims and obje¢tiYes iu several countrA¢$. Additionally, it intends ¢0 Complete more buildmg projects, rdnging from minor renovations to major devel¢)pments, as it contlnues to provide place5 of worship forbenefJciari&4.
Watch Toiver Bible and Traet Society of Britain Report of the Trustees for the Year Ended 31st Allgu$t 202S STRUCTURE, GOVERNANCF AND MANAGEMENT Governing document The charity. a UK company limited by guardntee. is ¢on¢rolled by ils goveming dent, the memorandum and article5 of the cornpany dated 25th October 1999. as amended by special resolurions dated 19th April 2000. 13th April 2016, 8th April 2022 and I Ith Mah 2024. Organlsatlothal Structure The Society 14 eon8tibJted 88 8 eompany limiied by guardniee. Members Littblllty Each Tnember Of the eharitablc company undenakes to contribute to the assets of the charitable Lumpany in the evenl of li being wound up while they are a member, or within one year after they cease to be a Tnember. 8u¢h amounts as n]ay be required, noi exceeding £1, for the debts and liabilitics contracted before they ee&sed to be a Mernr. Recruil]nent and appofintmcnt, iDdM£tioD and tr8iniDg of lleTrv trustee8 The recmiimeni and induction of new trustees ts arranged as follows= The truse5 may ai any lime co-opi any person duly qualified lo be appoinied as a trnstee to fill a vacancy in theirnumber or a% aT] additional trns(ee. Su¢h a person must be a member of the Socieiy and serve as one of Jehovah's Witnesses. New trnstees ore given training itt both operational and financial matters with the aid of the existing rrustees and relevant docunientsiion and guidallce provided by the Charity Commission. Trustees are given approprrate Charity Con)misbion publicalions and trdinillg is arTangd as part of rhe meetings of the rrusiee% when the Society's poli¢ies are discussed. This is supplemen¢¢d by periodic trainin& provided by other professional bodies when llew legislation affecting the Socieiy is iniroduced. The trust¢es meet together each tnonth. and are in regular ¢oniact. Wid¥r nehvork The Society works Llosely with many eniities wilh similar aims and objectiYe5 around the world. One Lxample is the International Bible Students Association IIBSAI. During the year IBSA Provided the Society wilh servi¢cd facilities for its chaTirablc aLtivities. Cooperaiion with all of these enlities facilitates pTh efificient and economic use of the S(Kiety'% resources. This cooperation also help.% the Society to meet its stated aims and objective5. The chartty also considers policie5, pledureS and guideline5 Used by entilies of Jehovah's Witnesses globally with similar aims and objectives, and, where applicable. seeks to Implemetjt them. EngagemeDI Trvith supplier5, CU5tomer5 aDd other$ The Irusie¢s re¢og])ise tlie importance of good business relolionshtps lo facilxtate the unintemipted provision of charitable services io beneficiaries. Policies aTe followed to ensure strong rclalionships with key supplier% are illainiained whilst slill obtaining value for money and Tnaking the best w%e of donated fvnds. REFERENCE AND ADMif41STRATIVE DETAILS Re%i5tered Company number 03858051 {England and Wale.%l Registered Charity number 1077961 Registered office l Kingdom Way Wtsi Hanningfield Chelmsford CM2 8FW
Watch Tower Bible and Tract Society of Britain Report of the Trustees for the Year Ended 31st August 2025 Trustee% P P Bell Iresigtted 28.2.251 RLI A J Llewellyn G Maraia {rebigned 31.10.24} S J Morice (rtsigned 28.2.26) L Thomas J B Fairall lappolnted l.11.24} L S Samuels B Thompson (appointed 28.2.25) L Tryihall lappoilld 28.2.25) Auditors Xeinadin Audit Ltd Chartered AOuntantS and statOry Auditor 12 Conqueror Court Si¢tingboume Kent ME105BH Bankers Barclay% Bank 126 Station Road Edgware London HA8 7RY
Watch Tower Bible and TrAct Soeiety of Britain Report of the Trustees for the Year F.nded.31$t Agust 2025 STREAMLINED ENERCY AND CARBON REPORTING Greenhouse f7as Emission5, Energy Consumption & Energy Effielency GHCJ emissions and energy use dats for period I September 2024 to 31 August 21125 Current reporting year 2024-202S kwh Comparison reporting year I 2023-2024 tCO2e kwh tco Quantity of eneigy consumed resulting from activities for which the cornpany is rebPOT]sible Emissions fron) combustion of gas (Scope l) Emissions from combustion of fuel for transport purp95es (Scope ! l {srandard di¢sell F.mis%ions from purcha8ed electricity {Scope 2) Toth] gross tC02¢ based on above 460,812 539,525 103 123 Intensity rthtio: The intensity rne&surement of tC02¢lM2 has been selecred and is given for energy consumption from activity COnnled with ILS propertics in Chelmsford and separately for energy ¢onsumption in relation to constjuction, renovation or maintenance projects. The comparative figure shown in relation to Chelrnsford propern.es has been amended Irom ttLai Shown in the 2024 financial sthtements based on a Co*d total Area of properties owned at the time. 2025 2024 IC02clM2 in relation to Chelmsford propcrtiGs tC02elM2 in relation lo construction or renovation projecls cornpleted in the period 0.0027 0.0029 Methodolog),: This report has beeTJ prepared in line with the Environmental Reporting Guidelines.. Including Streamlined Energy and Carbon Reporting Guidance (HM Government, 20191. The carix)n figures have been calculated using the UK Government carbon Conversiot) factors for 2025 and 2024 for all fuels. Market-based ele¢tTicity emissions have been talculated using dats obtained directly from utility bills. Emi&820n8 are reponed as metric lotmes of ¢arbon dioxide equivalent. The Society has taken an operaiional ¢ontrol appro&h, meaning that lo/ of eMIlOnS frorn operalions ov¢T which the Society has operntional control hove be¢n reported. Energy Etriciency ActioD Taken: The fjgures r¢lating to transpor( are in cunn¢ciion with the constrnctl0 renovation or n]aintenance projects completed in the period. All new construction projeLl5 are io the highesr energy etri¢ien¢y and insulalign Standards. as required by the rreryt Building Regvulalions. The Kingdom Hall project mentioned earlier in D¢von, incorpordte5 solai PV panels and battery storage for on-site eleciriLiiy generalion. There has also been a shift from dxesel vehicles lo petrol to impiove overall emissions elTicicncy.
Wydtch Tower Bible and Tract Society of Britain Report of the Trustees lor Ihe Year Ended 31st August 21125 STATEMENT OF TRUSTEES, REspof4sIBILITIES The trnstees {who are alw ihe direciors of ihe Society for the purposes of company law) are responsible for preparing thc Report of the Trnsree8 and the financial sthiements in accordance with applicable law and United Kingdom A¢¢ounting Standards (United Kingdom Generally Accepted A¢¢ounting Practice), including Financial Reponing Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Company law require.% the trust to prepare financial stat¢rnents foreaeh financial year which givc a true and fair view of the state of affairs of the charitable company and of the incoming rcsourcc% and application of sOurces, including the income and expenditure. of the charitable company for that pcriod. In preparing those financial statements. the trusiees are required to Seleei suitable a¢couniing policie.% and apply them consisiently. Obserye (he meibods and PTinciples in the Charity SORP. Make judgements and esiimaies ihai are reasonable and pNdent' State wheiber applicable accounting standards have been lollowed, subjeci to any material depamres disclosed and explained in rhe financial statements. Prepare ihe financial statsmenls on ihe going concem basi& unless it is inappropri&te to presujne thal the haritable ¢ompany will ¢ontinue in business. The tru&tee5 are r¢si)onsible for keepin¥ proper accounlin&i r¢¢ords. whi¢h diwlose witb reasonabl¢ accutacy at any time the flnancial position of the charitable company. atkd to enable them to ensure that the fancial statements comply the Curtlpanies Act 2006. They are also rebponsible (or safeguarding the assets olthe chariLqble company and hence for takingF reasonable steps for the prevention and detection of fraud and other irregularitÉes. Ln so far as the Intsiees are aware.. I'here is no relevant audii infornjaiion of which the charitsble company's auditors are unaware- and The trnstees have taken all steps Ihai they oughi to have taken Éo make ihemselves aware of any relevwit audit infomiatiou and to esthblish that the auditors are aware ofthal infornlalion. Report of the trustees incorpordting a strdtegic retM)rt, approved by orderof theboard of trnstees, as thecompany directors, on ... and signed on the FKTrard's behalf by.. R Li- Trus1¢¢ A J Llewellyn- Tnjstee 10
Report of the Independent Auditors to the M¢mbers of WAteh Tower Bible and Tract Society of Britoin Opinlon We have audiied the financial stsiements of WatLh Tower Bible and Tract Society of Britain {the'chaTitable company,) tor the year ended 3151 Augusl 2025 which comprise the Statement of Finan¢ial Activilkes, the Balance Sheet, thc Cash Flow Siatemeni and notrs lo the financial statemen, including a summary of significant accounting policies. The financial reporting framework thai hds been applied in their preparation is applicable law and UnEted Kingdom Accounting StsndaTds' (United Kingdom Generdlly Accepied A¢counting Pwticel, including Financjal Reportitjg Standard 102 'The Financial Reporiing sn(jard applicable in the UK and Republi¢ of Ireland,. In our opinion the finat)cial statements.. give a trne and fair view of the stale of the charitable ¢ompangs affairs as at 31 August 2025 and of ILS incoming resourcth and applicatron of resources, including its income and expenditure, foi the year then ended- have been properly prepared in accordance with United Ki]igdom Generally Accepted Accounting Practice, including Financial Reporling Siandard 102 The Finaiwial Reporting Standard applicable in the UK and Republic ofireland,; and have been prepared in ac¢ordance with the requirenient5 Ot the Companies Act 21H)6 and ScctioJJ 44 {1)(cl of the Charities and Trnstee Investment {Scodand) Act 2005 and the Charities A¢¢ounL8 IS¢oilandl Regulation$ 2006. Basis for opinion We conducttd our audit in accordance with Intemational Siandardq on Auditing (UK) {JSAs IUKI) at)d applicable law. Our resp()nsibilities under those standards are further described in the Auditors, re.OnSIbilItIeS for the audit of the fInancial statements section of our report. We are independent of ihe chariiable company in ac¢ord#nce with the ethi] requirements that are relevant to our audit of the financial statement.s in ihe UK, including the FRC'S Ethical Standard. and we have fulfilled our other ethical reqpon%ibilitie% in accordance with ihese requirements. We believe thai the audit evidence we have obtained is 8uifLcient and appr(>priatc provide a basis for OUT opinion. Coneluslons relating to going concern In auditing the financial siaicmenLs. we have concluded that the trustees, use of the EoinE con¢em basis of accounting in the PTeparalion of ihc financiol sthtemenls is appropriate. Based on thc work we have perfornied, we have not identified any material uncertainties relating to events or conditions Ihal, individually or collecriyely, may casl signifjcant doubt on the chaTitable compaT]y's abiliiy lo conlinue as a going concern for a period of ai least nvelve Inonths from when the financial staternents are authorised for issue. Our responsibiliiies and the responsibilittes of the tnjstees with respect to going concern are deKribed the relevant sections of thi5 report. Other informgtion The trustees are responsible for the uther infornjaiion. The other infom)alion comprises the inforniatlon included in the Annual Repor¢ other than th¢ finanLial siatements and our Report of the Independent Auditors thereon. Ouropinion on the finanLial staiemenls does noi cover the other infomiation and, ex¢ept to the extent otherwise explicitly stated in our repon. we do noi express any fonn of assurdn¢¢ ¢oll¢lusion ther¢on. In connection wilh our audii of the financial slaiem¢nls, our responsibility is to read the other infornjation and, in doing so. consider wheiher ihe other inforn]atson is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially rnis5tated. If we identify 4uLh material inconsislencies or apparenl material misslalemenis, we are required to determine whether ihis giive5 fiSE lo a JDAterial misslatemeni in the funcial slalemenls thernselves. If, based on the wotk we have perfoTmed. we ¢onclude that there is a matenal missiatement of this otlier intorniation. we are required to Iq)ort that fa¢t. We have nothing to report this regard. Opinions on other tllatter5 pre5cribeil by the CompADie$ Act 201)6 In our opinion, based on the work undertaken in the courbe of the audit.. the infotmation given in ihe Report of the Tru%tevs for the rtnan¢ial year for which the f?ala1 statements are prepared is consistent with the financial %tatemenL8,' and the Report of the Ttustees has been prepared in accordance with applicable legal requireinent
Report of the l))dependen¢ Auditors to the Members of Watch Tower Bible and Tr7dct Soeiety of Britain Malters on which we are required to report by exceplio In the light of the knowledge and underslanding of the charitable company and its environment obtained in the COUEse of the audit. we have t identified ma(erial misstatements in the Report of the Trnstees. We have nothin8 to report in respect of the following matters where the Companies Act 2(K)6 requires us to report to you if, in our opinion.. adequate accounting records have notbeen kept or rettwns adequaie forouraudit have notb¢en Te1Ved from b1CheS not visited by us; or the f]nancial staiernents are not in agreement with the accounting records and returns- or certain disclosures of ttusiees, remuneration specified by law are not made. or we have not received all the infom)ation and explanaiions we require for our audit. Responslbllltles of trustees As explained more llY in the Statement of TnL%tees' Re.sponsibililies, the tn]tstees (who are also the directors of ihe Charitable ¢on)pany for the pujyoses of company lawl are responsible for the preparation of the r]nancial statemenis and for being %ali%fied tha¢ they give a true and fair view, and for such inlemal control as the trustees deterniine is necessary to enable thc preparation of fmancial statements that are free from rnalerial misstatement, whether due to fraud or error. In preparing thc finan¢ial slai¢ment% th¢ tn]st¢es or¢ r¢sponsible for&ss¢s%ÈnE the charitablecompanys ability ¢0 continue as a going ¢on¢em, disclosing. as applicable, matters related to going toneern and using the going Concern b&sis nf accouniing unless the tnjsiees either intend to liquidate the ¢haritable company or to cease operations. orhave no reali.%ti¢ aliernatiye but to do so. 12
Report of the llldepeDdent AuditoJ3 to t1¢ Membern of Watch Tower Bible and Tract Society or Britsin 0r responsRbllitits for the audit of the financial $latem¢nts Our objectives areto obtatn reasonable assurdnce aboutwh¢therthe financial statements as awholew¢ free from material misstatemen( whether due to ftaud ¢rror. and to issu¢ a Report of the Independent Auditors that includes ouropinion. Reason&ble L%surdnce is a high level of assurdrtt, but is not a guarantee thAt an audit conth]cd in accordance with ISAS (UK) will always deteci a material misstatement when il existg. MÉssiXtements can arise fri)m frwd ( error and are considered material if, iYEdiyidualty or in thc agesate, could reasonably b¢ ¢xp¢¢t¢d io infiettee the econ(mii¢ decisions of usffs tyken on the bLsis of these fmancial statemetts. The extent to which our a capabl¢ of detecting iwlaTitiw in¢luding fraud is detiited below: Ollr objedives in perforniing th¢ audit are to identtfy and asse55 the risk of material mtsstatemenl iJJ the financial statements due to fraud or etTor aDd kn obtain suffici¢nt aL1t evidence to support this. We also ¢vatu#te and respond to the risk of nuterial misstatements. Audit procethres perfornied by the eDgogcrnent tegtn included: G&illing all understanding of the entity's cunEZrt artivitie4 &%8ets and liabilities and reviewing these Against the entity's cbaritable objective5 and aims. Dtscussing with managementand thos¢ chtrgcd with govemamceas to any known orsuspted instsnces of non C4)mpliance with laws and regulation4 Tncluding fraud. Gaining an understanding of the legal and regulatory framework applicable to the eDtity And how the entity is operating within thttt Pramework. Eyaluating the sus¢¢ptibility of the entitys financia] statements to m¢rial misststemenL including how fraud might w¢ur. Obtaining confmnaiions from managementaThl those chtywith gov¢rngnce asregards related parties andany Ir8nsartions wilh said related paties. ObtainanK an understanding of internal control Televwit to the audit in order design audit pM¢Ur¢5 that are appropriate in the circums11ceS i¢ not for th¢ pkwse of expTessiDg an opiniojs on the effectiveness of the company's internal control. Asscssing the apw0prlaten¢ oFaccow)iiDg policies wed and the r&wnablene5s of aec(MJnting estint¢S and related disclo$ur¢$ Tnad¢ by the Inlee4 whiist challengiDg a5sumption5 mad¢ by those charged with goY¢rnaD¢¢ in th¢ course of #c¢ouniing &stImeS. Identrfying alld testirftg manuaijournal ¢ntries. Reading minutes of me¢lin&8 Of those ch8rgcd with governance and reviewing co)n[kn¢C with regulatory IKdies. Evaluating th¢ ov¢ra]I presenlation, Structu and content of the financial stat¢m¢Tts. in¢ludiAg the disclosures. and whether the tinancial 5tstements represent the undertying rnisactions and events in a manner that achieves fair rKe8tntalion. A further description of our responsibilities for the audit of the finwJ¢ial sthtem¢nts is locaEed on the Financial RqLing Council's websiteatwww.frc.org.uk/auditOTsrewsibiliÉi¢s. Thi5 de5crhpiion forn)spattofow RertOf th¢ Indyndent Audiiors. 13
Report of tlk¢ tnd¢pendeat Audilor8 to the MemberB gt Watch Tower Bible and Traet Society of Britsin Use ofour report This rewrt is made solely to the charitAble coMpanS Mem1 as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 21M16. Ourallditwork h&sbeen undertaken sothat we mightstatc to the charitable comtAny's rnembers those matters w¢are rcqlliredto stAtetothem in an auditors, report and fornootherpurpose. Tothe fullestext¢nÈpem)itted by law. we do xcept or &gsume responsli )ility to anyone other than the charitable company aDd the Lharitsble company's members as a Ixmty. for our audit wo. for this repoTL or forth¢ opinions we have foelL Rosanna Turner ACA (Senior St#mtDry Auditor) for and on behalf of Xetn4din Audii Ltd 12 ConquenKCourt Sittingbourne Kent MEIO 5BH Date: ..IS. MAV WI6 14
Watch Toiver Blble and Tract Society of Britain St4temeTJt of Financial Acti711e$ (IncorporAting an Income And Expenditure Account) for the Year Ended 315t August 2025 2025 UnrestriL4¢d funds 2024 Unr¢stricied funds Notes Ir4COIME AND ENDOWMEIYTS FROM Donations and legacies 30,960,839 114.043.000 CbaritAble aetAvltles Design and build of places of worthip 2,412,190 3.079.231 Investhieni income Other income 4,698,491 391.805 3,325,096 206.053 Total 38.463 325 120.653 380 EXPENDITURE ON Charitable activities Assisting Oth¢T Entities with similar aims and objectives Design and build of places of worship Providing service5 for full-iime ministers 65,459,829 12,024.811 687.696 103,171.645 7,370,419 533,537 Total 78 172,336 111075601 Net on inve8tments 1920 693 9.079 116 NET INCOMEI{EXPENDJTURE) {37.788,318J 18.656.895 KLcoficiLIATION OF FUNDS 'rotal funds brought forward 232.868,079 214211,184 TOTAL FUNDS CARRIED FORWARD 195,079.761 232,868,079 ThenDies forn) p3rtofthese financi41.a(Cmellts
Watch Tower Bible and Tract Society of Britain Balance Shtet Jlst August 2025 2025 2024 UnTt51riCt funds UnrL%iricled funds Notes FIXED ASSEI'S Tangible assets Illvestmollts Invesiments Social investments 10 9.949,653 11,883.686 181.331,435 221,615.605 979,142 460.215 12 192.260.230 233,959,506 CURRENT ASSF.TS Stocks Debtors Cash at bank and in hand 13 392,407 3.115,132 9 850 639 2,843,767 4.250,414 621390 13.358.178 7.715.571 CREDITORS AmouT]ts falling due within one year 15 IS277.769} (1.816.442) NET CURRENT ASSETS 8 080 409 5 899.129 TOTAL ASSETS LESS CURRENT LIABILITIES 200.340,639 239.858,635 CREDITORS Amounts falling due after more than one year {2.919,877) 13,916,244) PROVISIONS FOR LIABILITIES (2,341,001) 13,074.312) ET ASSETS 195.079.761 232,868.079 TheJJDtcs (Drm part ofthese fman¢ial 5thnlS
Watch Tower Bible and Tract Society of Britain Ilalance Sheet- contlnued 31%t August 2025 FUNDS Unre%tricted fund4'. General Fund 19 195,079,761 232.868.079 TOTAI. Fuf4DS 195,079,761 232 868 079 Thc financial.4tatern¢nl% were approved by the Board of Trnstees and authorised for issw¢ on .... and were signed on its behalf by.. R Li- Trnstee A J Llewellyn- Trustee Th¢ 1¢5 for part ofthese tinancial ststcmth
WAtch Tower Bible and Tract Society of Britain Cash Flow Statement for the Year F.nded 31st August 2025 2025 2024 Note5 Cash flow5 from operating activities Cash generated frorn operations 21 35,814,580) 6.382.746 Net cash lused inllprovided by operating actiYitie5 35,814.580) 6.382.746 Casb from investing activitie Puichase oftangible fixed assets Purchase L>f fixed asset inveslments Purchase L>f social investments Sale of langible fjxed assets Sale of fkxed asset investm¢nts Interest e1Ved 1829,062) (173,127,630) 1528.7U3) 38.509 215.201.922 4.696.229 (10,280.011) 1161,549,860) 97,126 154,622.012 3,096.104 Net cash provided byllused in) investing activities 45451265 14,014.6291 CAsh flows from finineing attivities Loans advanced by deposiiors Loan% repaid lo depositors on 28,289 435.725) 51,062 {575,267) Net cash used in fllkncing aclivities 407 436} 524 205) Ch4118¢ In ¢8sh amd cash tquiv%lents i the reporting period Cash and cash equivalent5 at the beginnirRg of the reportin% period 9,229,249 {8.156,088) 8.777 478 Cx$b and cash equivalent8 at the end of the reporting period 9 850639 621J90 T]]enoies lom ot'these financial #aiemenis 13
WAtch Toiver Bible and Tract Society of Britain Notes to the Financial Statements for the YeaT Ended 31st Augiist 202$ ACCOUNTING POLICIES Bfftsls of preparin% the financial statements The financial .%tatements of the charitable company, a company limited by guarantee registered in England and Wales and in Scotland, which is a public benefit entity under FRS102, have heen prepared irt accordance with applicable charity and company law. namely the Chariiies SORP IFRS1021 'Aceouniing and Reporting by Charities.. Statement ot Re¢omn)ended Practice applicable io chariti preparing their accounis in accordance with Ihe Financial Reporting Siandard applicable in the UK and Republic of Ireland {FRS1021 (effective I st January 20191,, Financial Reponing Standard 102 The Financial Reporting Standard applicable in the UK and Republi of Ireland, (effective l January 20191, the Companies Act 2006 and the Charities Act 201 l. The financial statements havebeen prepared underthe histOTical cost conveniion ortrdTJsaciion value,unless stated in the relevant accounting policy notels). All arnounts are stated itt pounds sierling and rounded to the neest whole number. Critical a¢¢ounting judgement5 and key SOllTees of estimatlon w)eertainty The preparaiion af the financial staiemenLs requires judgernenis, estimations and assumpti0Ths to be made that affect the reported value of aets, liabiliiies. income and expendinwe. The nature of estimation and judgement earLS that aciual outcomes could differ from expectaiion. A significani area of estirnalion and judgement is when support COSLS have been allocated to activity on a basis consisteni with their use of resources. Further esiimaiions and judgetnent include investment valuations ai markei value, a5 disclosed in note 12 and the provision for ondilional donatiotss at twenty-five perceni as disclosed note 18. Dur&ng the year. the Imstees reviewed ihe e51imate us¢d to cla¥sify deposits between amounts falling due within one year and those falltng> due after more than one year, ba¥¢d on r¢view of withdrawal paiierns. As a result, the proportion of deposits classified as fallin&> due within one year incre&ged frum approximately ten perceni in th¢ prior year to approxIntelY fifteen percent in the ¢urrent year. Anoiher key estimaie is the rate of deprttiation. The trus'tees are of the opinion that the rates applied to the financial stai¢m¢nt% are appropriale. Incorne All income, whether in the forni of donalioJLS or legacies is recognised in the Statement of Financial Aclivities once the Society has. entitlernent lo the funds, li ts probable that the income will be received, and the amount can be measured reliably. Donations in the form of assets a included at the fair value on the date of thc gift. For legacies. entiilement is taken as ihe earlier ot the date on which cither,. the Society is aware thai probate has been granied, the estate has been finalised and notificaiion has bccll rnade by the cxccutorls) to ihe TNst that a distribution will be made, or when a di4lribution is received from thc egtate. Receipt of a legacy, in whole or in pan, is only Considered probable when the amount can be rne&surcd rcliably and the Society has been notified of the execuiotrs inteniion to make a distribution. Income from charitable activitie% also includc.8 thc value of *rvices. excluding V21ue Added Tax, provided at C04t to other ¢haritabl¢ bodi¢8 during thc pcri(Kl. Thc completion .4tAge trf building work perforn]ed over long-tenrj ¢ontraets is verified by qualified individual.8 and invoiced accordingly at appropriate intervals. Inve.stment income is accounted for on an accwals basis. Expendlture Liabili(iL¥ are recognised as expenditure as scN)n as There is a legal or ¢on8twetive obli¥ation commilling the Society 10 that expenditure, ii is probable ihar a irdnsfer of c£onomic benefiLs will be T¢quired in seiilement. and the amount of ihe obligation can be measuRd reliably. Expenditure IE accounied for un an accruals basis and has been Classified under headings that aggregyate all cos15 related to the cate¥ory. Where cosls cannoi be directly attributed to particular headings they have been allocated as described later re¥arding cost allocaiion.
Watch Tower Bible and Tract Society of Britain Notes to the Financial Statements - continued for the Year Ended 31st August 2025 Accouf4TIP4G POLICIES- contlnued Raising funds These are comprised of invesrment managemeni cosis incurred during the year. The Soclety does not engage in fund raising. Governance costs Governance costs comprise costs involved in the runjiing and administration of the Society. Th¢se are allucaled across activiÉie5 in the sa]ne Enanner as all other 8UPPQrt cosrs. Alloc3tion and appDrtionD)¢DI fjf eosts Where a cosi is incued for the purpos¢ of dire¢tly achi¢vinuF on¢ of the charitabl¢ it is allocated to that particulai aim. Some costs do not relate to one particular aim. but SLU)Ptsrt all of the al5 of ihe S(Kiety. Where ihis is the case. the sUPPOrt cost is apportioned to the aetivily based on the proportion of direct costs it incurs. 'I'angible fixed assets Fixed assets are valued ai cosi les5 depre¢iaiion and impaimieni ¢harges. Asseis ¢osiing less than £3,000 are not capiiaiised. Depreciation is provided at the following annual ra¢es in order to write each asset down to its residual value over its estimated use1 life.. Freehold land Buildings Plant and machinery Motor vehicles Fixtures and fitting5 Not depreciated 2 /0 on cost lo1 or 6.7/0 Oll C05t. 33°A. 20 /• or 14V• on c05t 33°A or IO/fj Otl Cost lrnpairni¢nt r¢N'iews are ¢arri¢d out on individual a&s¢ts when th¢r¢ is.%¢)me indi¢ation that the reLoverdble amount o(a fLxed asset is below ils net book value. Social illvestrnellt5 The Society classifLes ils s(Kial invesfmenls as programme relaied. The investmeTht is to further charitable ain and any financial retDrn is incidental. The investment ig held at C05t less impairnient, as fair value cannot be measured reliably. Fixed Asset Investments Inve.%imenis are a forn) of b&qic financial instrument and are initially recognised ai iheir Irdnsa¢ti(Fn value and .sub%cqucnily measured at their lair value a8 ai thc balance shcet dale using ihe closing quoted rnaet price. -I'hc Sthrement of Financial Activiiies includ&s the nct gains and108ses ari$ing on revaluation and disExTrsal8 throughout the year The majority of fixed &iset invc4tmenLS are Ix)nd%. held in UK 8tcrling or other traded CUTrencies. They have been valued at the appropriate exchange rate ai the year-end. Although they are liquid inv&tments. the nature of the portfolio is long tenn. A far smaller portion of the investments consists of varAOUS funds and derivatives managed by profo%sional fimis and banks. The valuation5 are based on the exiemal fimd managers, estimaies of The underlying as%ets' of the inve5tnieni vehicle. FIDan¢lal Instruments In addition t¢) ihe fixed asset inveslmenL% the Society also h&4 basic finan¢ial instwmenLs inilially recognised at transaction value and subsequenily measured at their setilement value if there 15 any variathce. If any are for a period longer than twelve months these are amortised WIM appropriate. 20
Watch Tower Bible and Tract Society of Britain Notes to the Flnanclal Statements - continued for the Ye&r Ended 31st August 2025 ACCOUNTING POLICIES- eontlnued Stocks and long-term eoThtraets Stock5 and work in progrc<% are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Co8t include% all direct expenditure and an appropriate proportion of fixed and variable ovetheads. Long tcrrn contraets are &Ssed on a contraci bycontraciboSiSat)d reflected in the siatement of financial acrivitie5 by recordin¥ tumover and related costs as contract activity progresses. Tumover J¥ ascertained in a manner ppropriate to the stage of completion of the c4mtrdCt. Taxatlon The charity is exempi fn)m colporation tax on its ¢haritable activitieg. Fund aeeounting Unrestricted fimds Can be US in accordance with the Charitable objtclives at the discretion of ih¢ trustees. Foreign exchange gaiDs Ius5e Foreigt] currency balances have been tsanslaled at the prevailing rate on (he balan¢e sh¢ei date. Income and expenditures during the year have been ttanslated ai ihe prevailing rate on ihe day of the traiisJ¢tion. Gains and losses arise when foreign currency assets Lhange in value between their purchase and the balance sheei date. DuD8ted goods Donated goods ate recognised as income when the Society has conlrgl over the item, the receipt of economi¢ beneflt Irotn the use by the Society of ihe 1M is probable ond ihal olC benefit can be mra8ured reliably. These would be rne&sured at fair value unless impractical to do so. In suth cases donated g(M)ds' are recognised at 051. Deposlts The Socieiy had an aTrangement whereby illdividuals could deposit funds 50 that the So¢iely could benefil, on the u]Jderstanding ihat these funds ¢ould b¢ requested back whenever the depositor withes, on dernand. In principle. deposits repayable L>n demaod ar¢ ¢las5ified a5 lallii)bF due within one year. However, as previously stated withdiawal data shows that L)nly a small p¢rccnlage ofdeposits will be Called uw)n in any on¢ year. Accordingly. the tnajority of the. amount% held are recognised &s falling due after one year. This prrdllgement wa5 c105ed to new (kposiL8 in 2015. Deposit.$ arc still accepted frorn congregations of Jehovah's Witnesses. COdItIOnal donation$ The Society receive% wme donations where the donor reserves the right to receive the fvnds back in ¢&qe of unexcl¢d need. F.xperienec has shown thai only a small percentage is retLUY)ed. but as men(ioned earlier the S(Kiety PTudently provides for twenty-five percent. Other re¢ognised galns and lo$se Thw compri%e unrealised and realised gains and losqe8 on investsnents. Unrealised gain and losses represent the ditTercnce between the niarket value brought fmvard lor cost. for a8qeL8 bought within ihis finaneial yearl and the market value at the balance sheei date. Realised gains and lo&ses reprc.qent the difference between sales procttds and market value brought fonvard (or cost. for assers bought within this financial ycar.) Realised and unrealised invcstmeot gains and lo&ses are combined in the Staremcnt of Financial Activitie8. Irre¢overAble VAT Irrecoverable VAT is included in the Televant cost headings on the fAce of the Statemeni of Financial Activiti¢s and is not shown as a separate item.
Watch ToTYer Bible and Tract Society of Britain Notes to the Financial Statements - eontinued ror the Year Ended 31st Augllst 2025 ACCOULYTING POLICIES- eontinued Interest receivablt Inierest on funds held on (kp)sit is included when re¢eivable and the can be measured reliably by the Society, which is nom)alty upon notification of the interest paid or payable by the Bank. Debtors Debtors are recognised at th¢ total amount due to the Society. Prepayrnents. are valued at the amount prepaid net of any trad¢ discounts du¢. C95h at b8Thk iD b4lld Cash at bank and in hand include cutTent and deposit accounis as well as tiivial amout)IS L)f peiiy cash. Credltors Creditors are Tecogni%ed where the Society a present obligation resulting from a past event thai will probabty result in the (ransfer of fuT]ds to a third party and the amount due 10 seiile ihe obligation be measured or estimated reliably. Creditors are nomially recognised ai their settlement amounl aftu allowing for any ttade discounts due. Going Concern The TNstees Consider the So¢iely a going ¢on¢ern and have no matertal un¢ertainti&s in this regard. A strong balance sheei position and consisteni income base contribut¢ to this wnclu5ion. Volunteers Individuals voluntsrily a5SlSt with all of the activities of the Society. The role of these individua]s is fimdamental to the Socicty carrying out work. as the Society does not have a salaried workforce. DONATIONS AND LEGACIES 2025 2024 Donaiions ofcash and goods Gifi aid Legacies 26,474,106 134.518 4 352215 112.471.793 160,508 1410 699 30,960,839 114043 000 INVESTMENT INCOME 2025 2024 Rents received Deposit account intet Interc8t receivable 2.262 42,247 4.653.982 120,903 131,580 3,072 613 4 698 491 3 325 096 22
Watch Tower Bible and Tract Society of Britain Notes to the Financial Statements - continued for the Year Ended 31st August 2025 INCOME FROM CHARITABLE ACTIVITIES 2025 2024 tks'ign and build of plac¢s Total acliviti¢s worship Incorne frorn construction of places or worship 2412,190 3.079.231 OTHER INCOME 2025 2024 ain on sale of iangible fixed ¢1$ Foreign currency gains Other income 2.823 34,854 354.098 87.839 67.667 50,547 391.805 206,053 CIIAIUTABLE ACTtVITIES COSTS sUprt coqts Is¢¢ not¢ 71 Dir1 Costs Totals 1SiSltng Other Entities with similar airns and objectives Design and bulld of places of Worship Providing setvices for ll-tiMe ministers 65,257,752 12,013,359 202,077 11.452 65.459.829 12,024,811 687.040 656 687,696 77,Y5R,151 214 185 78 172,336 Comparative5 for the year ended 31$t August 2024 Support Costs Iscc note 71 Direct Costs Totals Assisting Other Entilics with SiTnilar aims dnd objectlVe5 Design and build of places of worship Providing serviccs for fiall-time minislers 102,986,250 185.395 103,171,645 7,364,368 553,099 6,051 438 7.370.419 533.537 110,883.717 191.884 111,075.601 23
Watch Tower Bible and Tract Society of Britain Notes to the FinAncial Statements - continued for tlie YeAr Ended 31st August 2025 SUPPORT COSTS Govcrnancc co.%is Financt Tthals Assisting Other Entities with similar aims and objective5 Design and build of places of worship Providing services for full-time mrnisters 57,828 1,203 69 144.249 10,249 587 202,077 11,452 656 155.085 214.185 Support cost% havebecn alli)cated to thc appr(>priate activity, a5 shown above, in line with thc charity's aceounting policie%. Ctsmparative¥ for the yexr eDded 31 Augllst 2024 Gov¢rnanc¢ Finance Totals Assisillyd Other Entiti¢S with similar aims and objectives Design and build of places of worship ProvidiD&i services for fvll-time ministers 59,025 856 62 126,370 5,195 376 185,395 6,051 438 59.943 131.941 191,884 NET INCOMEI{EXPLNDITURL} Net iticomel{expendilure) ig stated afier char8iDgl{CTediiing).' 2025 2024 Audiiors, remuneratio Depreciation - owned asset5 IDeficit)isurplus oil di$posal of fix asset¥ 52.8(X 74.497 37.833 57.600 73.535 80.422 TRUSTFFS, RF.MUNERATION AND BENEFITS The trustees do not receive any reTnuner8tion or benefits for their role trustees of the Society. All are members. of the Worldwide Order of Special Full-Time Servants of Jehovah's Witnesses. The trnsiees and their spouses donated in ioial £542 to the chariry. 24
Watch Tower Bible and Tract Society of Britain Notes to the Financial StOtemeDts - contlDued for ihe Year LDded 31st August 2025 TRUSTEES, REMUNERATION AND BENEFITS- cont5ned Trnstees, expeDses No expenses were reimbursed to trustees during the year. 10. TANCIBLE FIXED ASSF.TS FixtUTES nd Frcthold property Plani and machinery Moior vehicles Toials cosr At Isi September 2024 Addiiions Disposals 11,769,215 728,344 2.775 523) 330,258 1.516 120.9871 22.531 531.(109 99,202 48,357) 12,653,013 829,062 2.948 9661 4.0991 At 3 1st August 2025 9 722 036 210 787 581854 10533 109 DEPRECIATIOIY Ai I st Septejnber 2024 Charge foi year Eliminated on disposal 286,523 39,551 163 2661 162,88 1 12,080 54 028) 22,122 297,801 22,866 39 384) 769.327 74.497 260 368 At 31st Augusi 2025 162 808 120933 281283 583 456 NET BOOK VALUE At 3 Isl Au¥ust 2025 89.854 300,571 9.949 653 At 3151 Aus8*2024 11.482 692 167 377 409 233 208 11,883 686 In¢luded in freehold property ts IAlld which is not depreciaied with a value of 2025.. £7,896,81612024.. £9,692,634). li. FIXED ASSET Ih'VESTMENTS List Oih¢r InvenIS securities Tota18 MARKET VALUE At Isi September 2024 Additions Disposals Exchange differences and real1snrealiSed ga170sS 1,608,961 22Q,006,644 221,615,605 220,416 173.805,731 174,026,147 {738,662) (215.180,938) (215,919,600) 110.402) 1.719.685 1.609.283 At 3 1st August 2025 980,313 180,351,122 181,331,435 NET BOOK VALUE Ai 3 1st AUgt 2025 980,JI 3 180,351,122 181,331.435 At 31st August 2024 1,608.961 220,006,644 221.615.605 Approximately £2 million is shown on the SOFA as a net gain on investments. 25
Watch Tower Bfible and Tract Soclety of Britain Noles ¢0 the Financial Statements- continued for the Year Ended 31st August 2025 12. SOCIAL INVESTMENTS Programmc relaied inveSt[tlS uity MARKEI. VALUE At l 81 September 2024 Additions Exchange diffemJ¢es 460,215 528,703 9.7761 At 3 Isi Au8USt 2025 979 142 NET BOOK VALUE At 3 1st August 2025 979,142 At 31st August 2024 460.215 The Society has made lar investments that support its ¢harithble obje¢tives'. one facilitating accel8 to places of worship globally. and another aimed at strengthening financtal infrLStnECturc for charities worldwide. The InL8tecs are confideni in their perfomian¢e and the ongoing impact and alignmenL of these investments with the Sa¢iety'8 aims and objectives. J3. STOCKS 2025 2024 Raw materials WoTk-in-progre5S 85.309 48,949 2,794 818 392.407 2.843.767 14. DEBTORS: AMOUP4TS FALLJNG DUF. WITHIN ONE YEAR 2025 2024 Trade debtor5 Other debtors Prepayment4 and ac¢rued incorne 420.697 75,744 2.618.691 2,127,009 1,282,927 840.478 3 115 132 4.250,414 26
Watch Tower Bible and Tract Society of Britain Notes lo the Financial StRtemettt$- continued for the Year Ended 31st August 202S CREDITORS: AMOUNTS FALLING DUE WITHILY ONE YEAR 2025 2024 Deposils (see notc 17) Trade creditors Other creditors Acctued expenses 515,272 4.659,729 45,168 57.600 435,138 ,268,895 112,409 5.277.769 1816.442 Depusits comprise monies received from individuals. cir¢uits and congregatioJ)s and held with the So¢tely until they are requesied back. 16. CREDI'foRS: AMOUIYTS FALLING DUE AFTER MORE THAN ONE YEAR 2025 2024 Deposits (see note 171 2.919877 3916 244 17. DEPOSITS No maturity analysis is provided for these deposits due to their nature. as dcKribed in the above nol¢s. 18. PROVISIOINS FOR LIABILITIES 2025 2024 Condilional donations 2.Ml.001 3074312 Provision at 1st Sq)ternber 2024 Provision released on COtltI0al donations converted into donations 3.074,312 (252,02111 481,282 Provision rele&sed on condiiional donatic)ns repaid Provision at 3 1st August 2025 2.341.(HJl Condiiional donaiions are donations llde by individuols on the understanding that they may be recalled should the donor require such funds in the future. The donor retains an option over thtir donation uniil Ihey die or writ¢ io convert it inro an outright donation or request repayment. While it considered probable tha¢ some of Ih¢s¢ condiiional donaiions will need to be repaid. it is unknown when this liability will crysthllize or how large il will be. The uustees have th¢refore prudently n]ade a provision for 25'A of the balaTJce of conditional donations as shown above. The remainin&T £7,023.004 is a continbFelll liability. 27
Watch Tower Bible and Tract So¢aety of Britain Note5 to the Financial Statemen15 - continued for the Ye4r Ended 31$t August 2025 19. MOVEMENT IN FU]VDS N¢1 Inovem¢nt in fun&4 At 31.8.25 At 1.9.24 Unrestrlcted fund5 General Fund 232,868,079 137,788.318) 195,079,761 TOTAL FUNDS Nei movement in funds, included in the above are as follows.. Inwtning r¢sourc¢5 Gain$ and Movement in funds txp¢nited Unrestricted fund5 General Fund 38,463,325 (78.172,3361 1,920,693 (37,788,318) TOTAL FUNDS 38,463.325 178,172,336) .920,693 37,788 318) Comparatives for mowemenl in funds mvvemtht in fund% Ai 31.8.24 At 1.9.23 Unrestrieted funds General Fund 214,211.184 18.656,895 232.868,079 TOTAL FUNDS 214211184 18 656 895 232 868 079 Comparative net movement in fund& included in thc abovc arc as follows.. Resoun%s expLnded Gains and Ios5t5 Movement in funds resources Unrestricted funds General Fund 120,653,380 (111,075,601) 9,079.116 18,6S6,895 TOTAL FUNDS 9079 116 18 656 895 28
Watch Tower Bible and Tract Society of Britain Notes to the FiDAncial Statements- continued for th¢ Year EDded 31st August 21125 19. MOVEMENT IN FUNDS - eontinued A curreni yeor12 months and Prior year12 months combincd position is as follows: Nel movement in funds Al 31.8.25 At 1.9_23 Unrestricted fuThd5 G¢nerdl Fund 214211.184 119.131,423) 195,079,761 TOTAL FUNDS 214 211 184 19.131.423) 195.079,761 A current yffdr 12 months and prior year 12 rnonths. combined nei movemeni in nds, included in the above are as follows.. IDcorning resourcls Resourc¢5 Gai*s 2nd 105se5 Movcmcnt in funds Unrestricted funds General Fund 159.116,705 1189,247.937) 10.999.809 (19,131,423) TOTAL FUNDS 159,116,705 189.247.937) 10.999.809 19,131,423) 20. RELATED PARTY DISCLOSURES There wer¢ no related party tra4CtionS foT the year ended 31 st Augusi 2025. 21. RECONCILIATION OF NET (EXPENDITUREYINCOME TO NET CASH FLOW FROM OPERATING ACTIVITJES 2025 2024 Net (expelldlture)Ilneome for the reportlDg period per the Statement of Flnaneial Aetivities) Adjustments for: DepreLiaiion charges Gain on invesiments Los4lprofiil on disposal of f¢d assets Inierest received Other non-cash donations received {Decrease)lincrease rn provisions Donated aSetS Accrued interest rnOVeTt]ent Decrease in stock Decreasel{increa8e} in debtors In¢r¢ase in creditors 137.788.318> 18,656,895 74.497 11.660,3331 37.833 14.696,2291 1508,7971 1733,3101 2,612,256 {120,014) 2,451,360 1,135,282 3 381.193 73.535 17,368,488} 186,422} (3,096.1041 163,4451 1262,1211 1237.0181 ,034.110 12.797,2101 529.014 Net ¢•sh (used illyprovided by operations 35,814,580) 6.382 746 29
Wateb Tower Bible and Traet Soelety of Britain Notes to the FinaneiAI Statements - eonilnued for the Year Ended 31st August 2025 22. ANALYSIS OF CHANGES JN NET O)EBT)IFUNDS At 1.9.24 Cash tlow At 31.8.25 et eash Cash at bank and in hand 621.390 9.229.249 9,850,639 621390 9 850 639 Debt Deb19 falling due within l year Debts falling due after l year 1435.138) 3,916,244 1110,1341 996,367 (515272} 2.919.877) 4.351.382 916,233 3,435,149 Tot41 3 729 992) 10 145 482 6415 490 23. IiYANCIAL INSTRUMENTS 2025 2024 Debt instruments at fair value Lisred debt securitie% Oiher Invesiments 180.351,122 980,313 220.IK)fi.644 1.608,961 Total 181.331,435 2?E.615,605 24. EMPLOYEES The Society does not have any employees {2024.. nil). 30