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 t￿￿tte%, 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 d￿Urnellt 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
o￿F.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 TrnS￿e$ are Confident in the ￿rf0mla￿Ct 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 consid￿8 requests from
thets¢ verified l¢gal eDtitl¢S and considers if its aDDual budget for this activity ig su￿1¢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. Th￿e 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 Com￿truCtiOn 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 W0￿h]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 success￿IlY 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 Ope￿ti9￿5 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 s￿Iety 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 a￿1 ohjcctives arc currendy better placcd to support global nttd%, thtsugh the Society remains prepared to
&*%ist were nceded.
Overall. the IN￿et$ 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
Brit*1
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 se￿1¢¢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-div￿ltY 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
s￿￿taInable flood mitigation measures.
The above inforniation enables the iNstees io report strong environmental t*rforniance for the year. It is in honnony with
its overall aim%, that the Society has success￿11Y 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 cO￿pIlanGe 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 d￿￿￿ent, 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 Ma￿h 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 Mern￿r.
Recruil]nent and appofintmcnt, iDdM£tioD and tr8iniDg of lleTrv trustee8
The recmiimeni and induction of new trustees ts arranged as follows= The trus￿e5 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, pl￿edureS 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 lappoill￿d 28.2.25)
Auditors
Xeinadin Audit Ltd
Chartered A￿OuntantS and sta￿tOry 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 A￿gust 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 COnn￿led
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 eMI￿lOnS 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 f￿ancial 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 s￿n(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
fu￿ncial 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￿?a￿la1 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 T￿e1Ved from b1￿CheS
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
0￿r 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]c*d 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 ag￿esate, could reasonably b¢ ¢xp¢¢t¢d io infi￿ettee 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 aL￿1t 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 orsusp*ted 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 circums11￿ceS 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 estin￿t¢S and
related disclo$ur¢$ Tnad¢ by the In￿lee4 whiist challengiDg a5sumption5 mad¢ by those charged with goY¢rnaD¢¢
in th¢ course of #c¢ouniing &stIm￿eS.
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 Rq￿Ling
Council's websiteatwww.frc.org.uk/auditOTsrewsibiliÉi¢s. Thi5 de5crhpiion forn)spattofow Re￿rtOf 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 coMpan￿S 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 fo￿elL
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 Acti￿711e$
(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 5th￿n￿lS

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 ne￿est
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 a￿ets, 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 approxIn￿telY 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 incu￿ed 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 al￿5 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 use￿1 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 rna￿et 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 1￿M is probable ond ihal ￿￿￿o￿lC 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.
CO￿dItIOnal donation$
The Society receive% wme donations where the donor reserves the right to receive the fvnds back in ¢&qe of
unex￿cl¢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 inte￿￿t
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
sUp￿￿rt
coqts Is¢¢
not¢ 71
Dir￿1
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- cont5n￿ed
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 Aus￿8*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
Inv￿￿enIS
securities
Tota18
MARKET VALUE
At Isi September 2024
Additions
Disposals
Exchange differences and
real1s￿￿nrealiSed ga1￿70sS
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 AUg￿￿t 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[t￿lS
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 COt￿ltI0￿al 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 ll￿de 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 tra￿4￿CtionS 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 a￿SetS
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