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2025-08-31-accounts

Charity registration number 1168037 (England and Wales) Charity registration number SC047080 (Scotland)

FELLOWSHIP OF INDEPENDENT EVANGELICAL CHURCHES ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

FELLOWSHIP OF INDEPENDENT EVANGELICAL CHURCHES

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Ian MacMichael (Chair)
Greig Ferguson (Vice-Chair)
Ian Jones
Michael Kendall
Jeremy Brooks
Stephen Waud
Mike Hitchings
Colin Adams
Rickey Raja (Appointed 1 December 2024)
Ravi Srinivasan (Appointed 1 December 2024)
Daf Cunningham (Appointed 1 December 2025)
Drew Waller (Appointed 1 December 2025)
Directors John Stevens National Director
Adrian Reynolds Associate National Director
Graham Beynon Associate National Director
Andy Hunter Director for Scotland & North for England
Elinor Magowan Director for Women's Ministry
Phil Topham Executive Director
Hannah Hutchinson Chief Operating Officer
Charity number (England and 1168037
Wales)
Charity number (Scotland) SC047080
Principal address 41 The Point
Market Harborough
Leicestershire
LE16 7QU
Auditor Caladine Limited
Chantry House
22 Upperton Road
Eastbourne
East Sussex
BN21 1BF
Bankers CAF Bank Ltd
25 Kings Hill
West Malling
Kent
ME19 4JQ
Solicitors Edward Connor Solicitors
10 The Point
Market Harborough
LE16 7QU
Safeguarding advisors Christian Safeguarding Services
6 Marshalsea Road
London
SE1 1HL

FELLOWSHIP OF INDEPENDENT EVANGELICAL CHURCHES

CONTENTS

Page
Trustees' report 1 - 6
Statement of trustees' responsibilities 7
Independent auditor's report 8 - 10
Statement of financial activities 11
Statement of financial position 12
Statement of cash flows 13
Notes to the financial statements 14 - 30

FELLOWSHIP OF INDEPENDENT EVANGELICAL CHURCHES

TRUSTEES' REPORT FOR THE YEAR ENDED 31 AUGUST 2025

The trustees present their annual report and financial statements for the year ended 31 August 2025.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's Constitution, the Charities Act 2011, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019).

Objectives and activities

The objects of FIEC are to advance the evangelical Christian faith as expressed in the Doctrinal Basis of the Fellowship. These objects are furthered by:

The CIO charity objects are the same as the Legacy charity, with two clarifications. The ‘congregations of Christian believers’ are expressed in terms of ‘churches of Christian believers’. In addition, churches find their unity on the basis of the common adherence to the doctrinal basis ‘and the Ethos statements’.

Public benefit

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Achievements and performance

Significant activities and achievements against objectives

FIEC’s Trustees approved a Strategic Plan in June 2021, and it is that plan which is reviewed and revised to ensure the charity is meeting its strategic objectives.

Our work is shaped by our desire – encapsulated in the Strategic Plan – to help churches. We have evaluated what a healthy independent church looks like, and have sought to support independent churches in this task.

National Director John Stevens focuses on national engagement on behalf of FIEC and its churches.

The staff team that offers administrative support to the ministries of FIEC and our affiliated churches is overseen by Executive Director Phil Topham, who is also the conduit between the Senior Leadership Team (SLT) of FIEC and the Trustees. Hannah Hutchinson is the Chief Operating Officer and part of SLT serving as deputy to the Executive Director and managing the operational responsibility of the office team focusing on events, finances and administration. This has enabled the Executive Director to spend more time engaging with churches to encourage affiliation to the charity.

FELLOWSHIP OF INDEPENDENT EVANGELICAL CHURCHES

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

The work of FIEC can be summarised as follows:

In 2024/25 the priorities included:

Here are some of the achievements during the period:

1. New Church Affiliations

Central to the Strategic Plan is the growth of the Fellowship by adding more member churches. This is where our funding comes from as FIEC does not raise money from individuals. In this financial year we saw 24 churches join FIEC and six churches were started receiving Church Plant Recognition status.

2. Local Directors

We appointed Simon Medcroft as Local Director for Essex during the period. This continues to expand our team in line with the Strategic Plan. Plans to appoint into the East Midlands, Central England and Bristol were also drawn up in the period.

3. Ministry Cohorts

We launched a number of cohorts for church leaders this year. These are online gatherings designed to help leaders at different stages of ministry or with different specialisms (for example church planting). We also set up one for the wives of Church Planters, led by Sian Robinson.

4. Intercultural Ministry

We are continuing to help churches move forward in this area. There is widespread acknowledgement that communities are changing and we want to help churches respond to this. During this period we worked alongside A Passion for Life to hear from those reaching out to Muslim, Sikh, Hindu and Jewish people with the gospel

5. Church Support

Our Director for Smaller Churches has established a team to engage with those churches in the Fellowship with a membership of fewer than 35. We have also set up a newsletter for Church Planters and continue to support church plants with grants to set up their charitable status.

6. Events

We held our annual Leaders’ Conference and more than 30 Local Conferences for church leaders. We established the Planters Conference for church planters in the period and reimagined our training conference, calling it Journeys. This is designed to help those looking to move into ministry. We also held our annual Thrive and Ministry Wives Retreats for women in ministry.

FELLOWSHIP OF INDEPENDENT EVANGELICAL CHURCHES

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

Significant factors

Other developments and significant milestones during the period included:

Fundraising practices

Regulations require us to report each year on certain aspects of any fundraising by FIEC.

Financial review

Total income in all funds was £1,698k (£1,878 in 2024), made up of donations, legacies and grants from trusts. Most significant are the donations from churches as this is FIEC’s main source of fundraising. Affiliated church donations to unrestricted funds were £1,123k (£975k in 2024). Suggested donations are in line with the size of a church’s membership and in the period were increased by 9%.

Donations from individuals to unrestricted funds were £26k (£128k in 2024). We are grateful to all who contribute in this way. We did not receive any legacies in the period.

Total expenditure was £1,908k (£1,910k in 2024 and £2,582k in 2023). The increase in 2025 from 2024 was owing to the increased number of ministry areas and therefore expenses increased.

Reserves policy

FIEC aims to maintain free reserves (Unrestricted Funds less unrestricted fixed assets, debtors and stock) at a level sufficient to cover three months’ general expenditure, in order to give FIEC time to respond to unexpected developments. At the end of the period Available Unrestricted Funds were £583k, with three months budgeted expenditure for 2025/26 at £495k, meaning there are sufficient funds in free reserves to carry out FIECs planned program of ministry in the coming year.

FELLOWSHIP OF INDEPENDENT EVANGELICAL CHURCHES

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

Major risks

The Trust Board examines the major risks facing the charity on at least an annual basis, with ongoing monitoring provided by the Senior Leadership Team. Where relevant, the Trust Board ensures there are action plans in place to mitigate the greatest risks to reduce their likelihood and potential impact.

Policies are in place for:

Numerous HR policies were also reviewed in the financial period 2024/25 including 'Complaints', 'Staff Salaries and Benefits', and 'Disaffiliation'.

Structure, governance and management

FIEC was constituted in November 1922 as an unincorporated organisation and became a Charitable Incorporated Organisation (CIO) with the same name and with similar charitable purposes in 2017. The CIO was registered with the Charity Commission on 5th July 2016 with the name under reference 1168037.

By Resolution of the Trust Board on 26th September 2017 the name of the charity number 263354 was changed from The Fellowship of Independent Evangelical Churches to The FIEC (Legacy) Charity. This is retained as a ‘shell’ charity, with an amended Constitution, solely for the purpose of dealing with the transfer of any potential future legacies left to the ‘old’ charity, for the benefit of the CIO charity.

In Scotland, FIEC was registered with the Office of the Scottish Charity Regulator (OSCR) under reference SC040111. On 10th January 2017, OSCR registered the FIEC CIO under a new reference SC047080 and contemporaneously deleted the ‘old’ charity. This was done in consultation with OSCR and following their advice.

Until 31 August 2017, FIEC was an unincorporated association with a Constitution as its governing document. Both under the unincorporated organisation and the CIO Constitution (as corporate successor to the FIEC from 1 September 2017), a general meeting of FIEC is held each November. This meeting has full responsibility for the direction of FIEC. Each affiliated church is entitled to appoint delegates to the general meeting, where major policy questions are decided and thereafter remitted to the Trust Board for executive action.

The trustees of the charity are the twelve members of the Trust Board. Potential Trust Board members are nominated by affiliated churches with an election at the general meeting each November of church delegates. Elected members serve for a period of three years and are eligible for re-election. In the event of a vacancy arising the Trust Board may co-opt a replacement member to serve until the next general meeting. This option was exercised during the period

The Trust Board has considered the general guidance issued by the Charity Commission on public benefit and in particular, its supplementary guidance on the advancement of religion for the public benefit.

Affiliated churches are required to register with the Charity Commission where their income exceeds £100,000 per annum and / or where constituted as a Charitable Incorporated Organisation. Otherwise, churches are not currently able to make a new registration with the Charity Commission due to the Charities (Exception from Registration) Regulations 1996 which are currently set to continue to apply until 31st March 2031 through The Charities (Exception from Registration)(Amendment) Regulations 2014.

FELLOWSHIP OF INDEPENDENT EVANGELICAL CHURCHES

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

On accepting new churches into membership of FIEC, the Trust Board policy is for churches to have governing documents that are capable of being registered with the Charity Commission. If these are not currently in place, they are expected to work to rectify this within two years (24 months) of joining as an affiliated church.

Members are elected at FIEC’s general meeting each November and start their period of service from 1st December following. Trust Board Members who served as trustees during the period and up to the date of approval of this Report were:

Ian MacMichael (Chair)

Greig Ferguson (Vice-Chair) Ian Jones Michael Kendall Jeremy Brooks Stephen Waud Mike Hitchings Colin Adams Spencer Shaw (Resigned 30 November 2024) Peter Campbell (Resigned 30 November 2024) John Russell (Resigned 30 November 2025) William James (Resigned 30 November 2025) Rickey Raja (Appointed 1 December 2024) Ravi Srinivasan (Appointed 1 December 2024) Daf Cunningham (Appointed 1 December 2025) Drew Waller (Appointed 1 December 2025)

Recruitment and appointment of trustees

At the general meeting in November 2024, Mike Hitchings and Colin Adams were elected for a further three-year term.

During the year, Ian Jones and Michael Kendall were the acting Chair and Vice-Chair respectively. They resigned these positions on 31 August 2025, being replaced on 1 September by Ian MacMichael (Chair) and Greig Ferguson (Vice-Chair).

New Trust Board members are informed of the Charity Commission guidance concerning the responsibilities of trustees and given an introductory presentation on the role of trustees. The Trust Board keeps under review the most appropriate means of ensuring regular, ongoing training for Trust Board members, including making training a part of their termly gatherings.

None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.

Organisational structure

The Trust Board is responsible for the governance and policy for FIEC. The implementation of the policy and the day to day management is delegated to the National Director, who is appointed by the Trust Board and approved by the general meeting. John Stevens has been in post as National Director since 2010 and is part of the Senior Leadership Team. In addition to the FIEC National Director there are directors appointed by him with specific responsibilities. During this period the following Directors also served in the Senior Leadership Team:

Associate National Director - Adrian Reynolds Associate National Director - Graham Beynon Director for Scotland & North of England - Andy Hunter Director for Women's Ministry - Elinor Magowan Executive Director - Phil Topham Chief Operating Officer – Hannah Hutchinson

FELLOWSHIP OF INDEPENDENT EVANGELICAL CHURCHES

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

The Senior Leadership Team is assisted in carrying out its responsibilities by other staff and a number of voluntary advisory teams which provide advice and expertise. The National Recognition Team is established by the Trust Board with the assistance of the National Director to advise the Trust Board on churches to be admitted as members of FIEC and men to be admitted to the FIEC Pastors’ Network.

The Senior Leadership Team meets weekly to discuss and implement policy and practical matters across the organisation. The other ministry staff meet in smaller groups to deliver ministry – the regional directors under the leadership of Graham Beynon (Associate National Director) and the other ministers under the leadership of Adrian Reynolds (Associate National Director). In addition there are a number of teams meeting to discuss, facilitate and lead of key areas of work e.g. intercultural team, theology team, women’s ministry team, operational team, leadership team, Leaders’ Conference team, Rising Lights team, resources team etc.

The Trust Board are members of The Fellowship Property Trust (which is a separate charity and company, and which prepares its own accounts) and as such, they appoint trustees to the Board of The Fellowship Property Trust.

The trustees' report was approved by the Board of Trustees.

Ian MacMichael (Chair) Chair

21 May 2026

FELLOWSHIP OF INDEPENDENT EVANGELICAL CHURCHES

STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 31 AUGUST 2025

The trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales and in Scotland requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that year.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

FELLOWSHIP OF INDEPENDENT EVANGELICAL CHURCHES

INDEPENDENT AUDITOR'S REPORT

TO THE TRUSTEES OF FELLOWSHIP OF INDEPENDENT EVANGELICAL CHURCHES

Opinion

We have audited the financial statements of Fellowship of Independent Evangelical Churches (the ‘charity’) for the year ended 31 August 2025 which comprise the statement of financial activities, the statement of financial position, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

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

Conclusions relating to going concern

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

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

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

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

FELLOWSHIP OF INDEPENDENT EVANGELICAL CHURCHES

INDEPENDENT AUDITOR'S REPORT (CONTINUED)

TO THE TRUSTEES OF FELLOWSHIP OF INDEPENDENT EVANGELICAL CHURCHES

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 and the Charities Accounts (Scotland) Regulations 2006 require us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the statement of trustees' responsibilities, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and section 44(1)(c) of the Charities and Trustee Investment (Scotland) Act 2005 and report in accordance with the Acts and relevant regulations made or having effect thereunder.

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

The extent to which the audit was considered capable of detecting irregularities including fraud

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

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

FELLOWSHIP OF INDEPENDENT EVANGELICAL CHURCHES

INDEPENDENT AUDITOR'S REPORT (CONTINUED)

TO THE TRUSTEES OF FELLOWSHIP OF INDEPENDENT EVANGELICAL CHURCHES

Audit response to risks identified

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

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

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

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

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Other matters

Your attention is drawn to the fact that the charity has prepared financial statements in accordance with "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (as amended) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.

This has been done in order for the financial statements to provide a true and fair view in accordance with current Generally Accepted Accounting Practice.

Caladine Limited, Statutory Auditor Chartered Certified Accountants Chantry House 22 Upperton Road Eastbourne East Sussex BN21 1BF

21 May 2026

Caladine Limited is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

FELLOWSHIP OF INDEPENDENT EVANGELICAL CHURCHES

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 AUGUST 2025

Unrestricted
Restricted
funds
funds
2025
2025
Notes
£
£
Income from:
Donations and legacies
3
1,266,002
78,474
Charitable activities
4
324,352
1,040
Investments
5
27,159
-
Other income
6
1,057
-
Total income
1,618,570
79,514
Expenditure on:
Charitable activities
7
1,729,400
178,408
Other expenditure
13
-
-
Total expenditure
1,729,400
178,408
Net expenditure
(110,830)
(98,894)
Transfers between
funds
22
(11,244)
11,244
Net movement in
funds
10
(122,074)
(87,650)
Reconciliation of funds:
Fund balances at 1 September
2024
1,349,911
797,956
Fund balances at 31 August
2025
1,227,837
710,306		 Total
Unrestricted
Restricted
funds
funds
2025
2024
2024
£
£
£
1,344,476
1,269,169
318,525
325,392
255,187
-
27,159
35,125
-
1,057
393
-
1,698,084
1,559,874
318,525
1,907,808
1,673,544
235,550
-
982
-
1,907,808
1,674,526
235,550
(209,724)
(114,652)
82,975
-
-
-
(209,724)
(114,652)
82,975
2,147,867
1,464,563
714,981
1,938,143
1,349,911
797,956		 Total
2024
£
1,587,694
255,187
35,125
393
1,878,399
1,909,094
982
1,910,076
(31,677)
-
(31,677)
2,179,544
2,147,867

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

FELLOWSHIP OF INDEPENDENT EVANGELICAL CHURCHES

STATEMENT OF FINANCIAL POSITION

AS AT 31 AUGUST 2025

Notes
Fixed assets
Property, plant and equipment
15
Current assets
Inventories
16
Trade and other receivables
17
Cash at bank and in hand
Current liabilities
18
Net current assets
Total assets less current liabilities
Non-current liabilities
19
Net assets
The funds of the charity
Restricted income funds
22
Unrestricted funds
23		 2025
£
£
877,480
-
151,284
1,345,353
1,496,637
(415,974)
1,080,663
1,958,143
(20,000)
1,938,143
710,306
1,227,837
1,938,143		 2024
£
£
880,756
716
461,990
1,129,738
1,592,444
(275,333)
1,317,111
2,197,867
(50,000)
2,147,867
797,956
1,349,911
2,147,867

The financial statements were approved by the trustees on 21 May 2026

Ian MacMichael (Chair) Chair

FELLOWSHIP OF INDEPENDENT EVANGELICAL CHURCHES

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2025

Notes
Cash flows from operating activities
Cash generated from/(absorbed by)
operations
27
Investing activities
Purchase of property, plant and equipment
Proceeds from disposal of property, plant
and equipment
Investment income received
Net cash generated from investing activities
Net increase/(decrease) in cash and cash
equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2025
£
£
202,767
(14,311)
-
27,159
12,848
215,615
1,129,738
1,345,353		 2024
£
£
(342,210)
(15,918)
709
35,125
19,916
(322,294)
1,452,032
1,129,738

FELLOWSHIP OF INDEPENDENT EVANGELICAL CHURCHES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

1 Accounting policies

Charity information

Fellowship of Independent Evangelical Churches is a CIO with cross border registration in England and Wales, and Scotland.

1.1 Basis of preparation

The financial statements have been prepared in accordance with the charity's constitution, the Charities Act 2011, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended), FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

FELLOWSHIP OF INDEPENDENT EVANGELICAL CHURCHES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

1 Accounting policies (Continued)

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

1.6 Property, plant and equipment

Property, plant and equipment are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Property, plant and equipment are capitalised only if they are over the value of £500, all other items are accounted for as expenditure.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following basis:

Freehold land and buildings 1% straight line Fixtures and fittings 20% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Impairment of non-current assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8 Inventories

Inventories are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.

Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.

1.9 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

FELLOWSHIP OF INDEPENDENT EVANGELICAL CHURCHES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

1 Accounting policies (Continued)

1.10 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including trade and other payables and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.11 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.12 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

FELLOWSHIP OF INDEPENDENT EVANGELICAL CHURCHES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Income from donations and legacies

Unrestricted
Restricted
funds
funds
2025
2025
£
£
Donations and gifts
1,186,874
78,474
Legacies
78,713
-
Grants
415
-
1,266,002
78,474
Donations and gifts
Churches
1,122,781
16,419
Individuals
25,908
55,296
Other
7,139
1,500
Gift Aid
5,472
3,206
Preaching Honoraria
25,574
2,053
1,186,874
78,474		 Total
Unrestricted
Restricted
funds
funds
2025
2024
2024
£
£
£
1,265,348
1,142,290
318,525
78,713
-
-
415
126,879
-
1,344,476
1,269,169
318,525
1,139,200
975,012
262,729
81,204
127,804
51,975
8,639
9,488
-
8,678
5,041
2,966
27,627
24,945
855
1,265,348
1,142,290
318,525		 Total
2024
£
1,460,815
-
126,879
1,587,694
1,237,741
179,779
9,488
8,007
25,800
1,460,815

FELLOWSHIP OF INDEPENDENT EVANGELICAL CHURCHES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

4 Income from charitable activities

Unrestricted
Restricted
funds
funds
2025
2025
£
£
Courses and conferences
Courses and conference
fees
46,089
-
Leaders Conference
265,983
1,040
Publications and literature
Primer
-
-
Rental income
Rent of 41 The Point
12,280
-
324,352
1,040
5
Income from investments
Interest receivable
6
Other income
Other income		 Total
Unrestricted
Restricted
Total
funds
funds
2025
2024
2024
2024
£
£
£
£
46,089
41,785
-
41,785
267,023
210,085
-
210,085
-
350
-
350
12,280
2,967
-
2,967
325,392
255,187
-
255,187
Unrestricted
Unrestricted
funds
funds
2025
2024
£
£
27,159
35,125
Unrestricted
Unrestricted
funds
funds
2025
2024
£
£
1,057
393		 Total
2024
£
41,785
210,085
350
2,967
255,187

FELLOWSHIP OF INDEPENDENT EVANGELICAL CHURCHES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2025

7 Expenditure on charitable activities

Church
support
Training and
information
2025
2025
£
£
Direct costs
Staff costs
759,971
210,965
Establishment costs
25,884
7,185
Staff travel
63,101
17,704
Care and recognition of
churches
111,361
-
Leaders Conference
253,555
-
Women's minitry
16,785
-
Professional advice
-
13,886
Media and publicity
-
9,485
Primer
-
568
Other conferences
43,109
18,720
Support of Affinity
-
-
1,273,766
278,513
Grant funding of activities
(see note 8)
-
500
Share of support and governance costs (see note 9)
Support
154,068
42,769
Governance
19,131
5,311
1,446,965
327,093
Analysis by fund
Unrestricted funds
1,312,130
299,820
Restricted funds
134,835
27,273
1,446,965
327,093		 Outreach
Other
evangelical
organisation
support
2025
2025
£
£
27,342
33,866
931
1,153
2,270
2,812
-
-
-
-
-
-
-
-
-
-
-
-
15,112
570
-
18,590
45,655
56,991
6,300
-
5,543
6,865
688
852
58,186
64,708
51,030
61,915
7,156
2,793
58,186
64,708		 Develop-
ment
2025
£
3,715
120
292
-
-
-
-
-
-
59
-
4,186
6,061
520
89
10,856
4,505
6,351
10,856		 Total
2025
£
1,035,859
35,273
86,179
111,361
253,555
16,785
13,886
9,485
568
77,570
18,590
1,659,111
12,861
209,765
26,071
1,907,808
1,729,400
178,408
1,907,808

FELLOWSHIP OF INDEPENDENT EVANGELICAL CHURCHES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

7 Expenditure on charitable activities (Continued)

Previous year:
Church
support
Training and
information
2024
2024
£
£
Direct costs
Staff costs
685,255
171,429
Establishment costs
28,927
7,237
Staff travel
59,245
14,822
Care and recognition of
churches
29,749
-
Leaders Conference
213,701
-
Women's minitry
2,090
-
Professional advice
-
12,740
Media and publicity
-
9,467
Primer
-
5,760
Hub Conference
-
19,288
Other conferences
-
52,148
Representation of other
bodies
-
-
Support of Affinity
-
-
1,018,967
292,891
Grant funding of activities
(see note 8)
1,150
39,085
Share of support and governance costs (see note 9)
Support
106,091
26,540
Governance
16,812
4,206
1,143,020
362,722
Analysis by fund
Unrestricted funds
1,110,701
315,839
Restricted funds
32,319
46,883
1,143,020
362,722		 Outreach
Other
evangelical
organisation
support
2024
2024
£
£
25,434
32,872
1,074
1,388
2,199
2,842
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
238
-
19,092
28,707
56,432
142,415
150,000
3,938
5,091
624
806
175,684
212,329
32,112
210,834
143,572
1,495
175,684
212,329		 Develop-
ment
2024
£
3,214
136
278
-
-
-
-
-
-
-
-
-
-
3,628
11,135
497
79
15,339
4,058
11,281
15,339		 Total
2024
£
918,204
38,762
79,386
29,749
213,701
2,090
12,740
9,467
5,760
19,288
52,148
238
19,092
1,400,625
343,785
142,157
22,527
1,909,094
1,673,544
235,550
1,909,094

FELLOWSHIP OF INDEPENDENT EVANGELICAL CHURCHES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

8 Grants payable

Grants to institutions:
Grants to FIEC churches
Grants to individuals
Previous year:
Grants to institutions:
Grants to FIEC churches
Passion for Life
Grants to individuals		 Training and
information
Outreach
Develop-
ment
2025
2025
2025
£
£
£
-
6,300
-
-
6,300
-
500
-
6,061
500
6,300
6,061
Church
support
Training and
information
Outreach
Other
evangelical
organisation
support
Develop-
ment
2024
2024
2024
2024
2024
£
£
£
£
£
-
39,085
140,300
-
10,610
-
-
-
150,000
-
-
39,085
140,300
150,000
10,610
1,150
-
2,115
-
525
1,150
39,085
142,415
150,000
11,135		 Total
2025
£
6,300
6,300
6,561
12,861
Total
2024
£
189,995
150,000
339,995
3,790
343,785

FELLOWSHIP OF INDEPENDENT EVANGELICAL CHURCHES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2025

9 Support costs allocated to activities

10 Depreciation
Consumables
Information technology
Other costs
Governance costs
Analysed between:
Church support
Training and information
Outreach
Other evangelical organisation support
Development
Governance costs comprise:
Audit fees
Accountancy
Trust board meeting expenses
Net movement in funds
The net movement in funds is stated after charging/(crediting):
Fees payable to the charity's auditor:
- for the audit of the charity's financial statements
- for other financial services
Depreciation of owned property, plant and equipment
Loss on disposal of property, plant and equipment		 2025
£
17,587
27,596
147,355
17,226
26,072
235,836
173,199
48,080
6,231
7,717
609
235,836
2025
£
7,740
3,074
15,258
26,072
2025
£
7,740
3,074
17,587
-		 2024
£
15,746
25,771
86,348
14,292
22,527
164,684
122,903
30,746
4,562
5,897
576
164,684
2024
£
7,740
3,060
11,727
22,527
2024
£
7,740
3,060
15,746
982

11 Trustees

None of the trustees (or any persons connected with them) received any remuneration during the year.

9 trustees were reimbursed meeting expenses (or had their expenses met by the charity) of £13,130 (2024 - 12 were reimbursed £11,278).

No trustees had any other expenses reimbursed or met by the charity in the year (2024 - none).

FELLOWSHIP OF INDEPENDENT EVANGELICAL CHURCHES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

12 Employees

The average monthly number of employees during the year was:

The average monthly number of employees during the year was:
2025 2024
Number Number
25 23
Employment costs 2025 2024
£ £
Wages and salaries 861,324 770,273
Social security costs 86,545 73,896
Other pension costs 87,990 74,035
1,035,859 918,204
The number of employees whose annual remuneration was more than £60,000
is as follows:
2025 2024
Number Number
£70,001 to £80,000 1 1
Remuneration of key management personnel
The remuneration of key management personnel was as follows:
2025 2024
£ £
Aggregate compensation 466,159 450,995
13 Other expenditure
Unrestricted Unrestricted
funds funds
2025 2024
£ £
Net loss on disposal of tangible fixed assets - 982

14 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

FELLOWSHIP OF INDEPENDENT EVANGELICAL CHURCHES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

15
Property, plant and equipment
Freehold land
and buildings
Fixtures and
fittings
£
£
Cost
At 1 September 2024
903,904
38,316
Additions
-
14,311
At 31 August 2025
903,904
52,627
Depreciation and impairment
At 1 September 2024
44,664
16,800
Depreciation charged in the year
7,444
10,143
At 31 August 2025
52,108
26,943
Carrying amount
At 31 August 2025
851,796
25,684
At 31 August 2024
859,240
21,516
16
Inventories
2025
£
Finished goods and goods for resale
-
17
Trade and other receivables
2025
Amounts falling due within one year:
£
Trade receivables
2,891
Prepayments and accrued income
148,393
151,284
18
Current liabilities
2025
Notes
£
Other taxation and social security
4,933
Deferred income
20
335,769
Trade payables
32,427
Other payables
30,000
Accruals
12,845
415,974		 Total
£
942,220
14,311
956,531
61,464
17,587
79,051
877,480
880,756
2024
£
716
2024
£
64
461,926
461,990
2024
£
19,591
190,523
-
50,000
15,219
275,333

FELLOWSHIP OF INDEPENDENT EVANGELICAL CHURCHES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2025

19 Non-current liabilities
2025 2024
£ £
Other payables 20,000 50,000
20 Deferred income
2025 2024
£ £
Other deferred income 335,769 190,523
Deferred income is included in the financial statements as follows:
2025 2024
£ £
Deferred income is included within:
Current liabilities 335,769 190,523
Movements in the year:
Deferred income at 1 September 2024 190,523 153,800
Released from previous periods (190,523) (153,800)
Resources deferred in the year 335,769 190,523
Deferred income at 31 August 2025 335,769 190,523

Deferred income is comprised of monies received in advanced for the FIEC Leadership Conference held in November 2025 and Rising Lights conference held in April 2026.

21 Retirement benefit schemes
2025 2024
Defined contribution schemes £ £
Charge to profit or loss in respect of defined contribution schemes 87,990 74,035

The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.

FELLOWSHIP OF INDEPENDENT EVANGELICAL CHURCHES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

22 Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

At 1 Incoming Resources Transfers At 31 August Transfers At 31 August
September resources expended 2025
2024
£ £ £ £ £
Benevolent fund 11,766 - (270) - 11,496
Mission fund 46,630 3,917 (6,339) - 44,208
Dalling memorial fund 25,151 - - - 25,151
Philip Henman trust fund 121,205 - - - 121,205
Scottish legacy fund 23,373 - (23,373) - -
FIEC loan fund 74,735 - - - 74,735
Training fund 49,381 50,834 (500) - 99,715
Connect for growth 3,710 - (731) - 2,979
Office property fund 124,212 - (2,299) - 121,913
London Directors fund 111,390 2,053 (61,464) - 51,979
Bursary fund 6,403 2,710 (6,061) - 3,052
McAllister Memorial fund 200,000 - (46,127) - 153,873
Church Governance Advisor
Fund - 20,000 (31,244) 11,244 -
797,956 79,514 (178,408) 11,244 710,306
Previous year: At 1 Incoming Resources Transfers At 31 August
September resources expended 2024
2023
£ £ £ £ £
Benevolent fund 1,806 11,110 (1,150) - 11,766
Mission fund 142,715 44,215 (140,300) - 46,630
Dalling memorial fund 24,701 450 - - 25,151
Philip Henman trust fund 121,205 - - - 121,205
Scottish legacy fund 23,373 - - - 23,373
FIEC loan fund 74,735 - - - 74,735
Training fund 29,204 59,262 (39,085) - 49,381
Connect for growth 5,825 - (2,115) - 3,710
Office property fund 126,512 - (2,300) - 124,212
London Directors fund 150,000 855 (39,465) - 111,390
Bursary fund 14,905 2,633 (11,135) - 6,403
McAllister Memorial fund - 200,000 - - 200,000
714,981 318,525 (235,550) - 797,956

FELLOWSHIP OF INDEPENDENT EVANGELICAL CHURCHES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

22 Restricted funds (Continued)

Benevolent fund - used to make gifts to ministers, partners, and affiliated church members, who are considered to be in need of financial assistance.

Mission fund - to provide support for church planting initiatives and other outreach initiatives within the UK.

Dalling memorial fund - to provide support to accredited ministers and their families in time of illness.

Philip Henman trust fund - supporting the work and outreach of the Fellowship.

Scottish legacy fund - to provide support for the work of the Fellowship in Scotland.

Church Hardship Fund – to provide support for churches which are struggling financially. The balance on the Church Hardship fund was transferred to the new Bursary fund in June 2023 when all the allocated grants had been sent out.

Development fund - meeting costs for specific projects made known by FIEC to develop the fundraising and administrative support functions of FIEC.

FIEC loan fund - this fund was previously used for making loans available to church plants and building projects to advance gospel work. The fund has now been converted (with Charity Commission approval) into a grant fund within the

Mission fund so there will be no further loan applications accepted.

Training fund - to provide financial support to men and women from within the FIEC family of churches to assist in their formal training for gospel ministries. The Fund also provides help to FIEC Churches in establishing ministry posts as well as evangelism and church planting initiatives involving training appointments.

Connect for growth - to provide support for our relationship with the Mississippi Baptist Convention in the United States which sees church members from both sides of the Atlantic visit each other's churches to provide support with ministry and mission.

Office property fund - established with money given specifically for the purchase of the Fellowship's office and through transfers from other funds which were restricted as to their use for property purchase.

London Directors fund - Funds from a closed church to be used within London and the surrounding area which have been ringfenced by the Trustees to fund the London Director's salary for up to a period of three years

Bursary fund - to provide help for churches leaders to attend FIEC conferences.

Church Governance Advisor Fund - to provide financial support for the post of Church Governance Advisor at FIEC.

FELLOWSHIP OF INDEPENDENT EVANGELICAL CHURCHES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

23 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1
September
2024
Incoming
resources
Resources
expended
£
£
£
Local Directors fund
164,526
21,784
(180,865)
Capital fund
39,994
-
-
Bursary fund
-
-
-
General funds
1,145,391
1,596,786
(1,548,535)
1,349,911
1,618,570
(1,729,400)
Previous year:
At 1
September
2023
Incoming
resources
Resources
expended
£
£
£
Local Directors fund
119,618
145,588
(100,680)
Capital fund
39,994
-
-
General funds
1,304,951
1,414,286
(1,573,846)
1,464,563
1,559,874
(1,674,526)		 Transfers At 31 August
2025
£
£
-
5,445
-
39,994
5,000
5,000
(16,244)
1,177,398
(11,244)
1,227,837
Transfers At 31 August
2024
£
£
-
164,526
-
39,994
-
1,145,391
-
1,349,911

Local Directors fund - Funds ringfenced by the Trustees to fund the Local Directors salary costs and expenses, less associated income, for three years.

Capital fund - Funds ringfenced by the Trustees to fund replacement of Capital equipment.

Bursary fund - Following a surplus from the Leaders' Conference 2024, the Trustee's designated £5,000 to provide help for church leaders to attend future FIEC conferences.

24 Analysis of net assets between funds

Unrestricted
Restricted
funds
funds
2025
2025
£
£
At 31 August 2025:
Property, plant and equipment
877,480
-
Net current assets
370,357
710,306
Long term liabilities
(20,000)
-
1,227,837
710,306		 Total
2025
£
877,480
1,080,663
(20,000)
1,938,143

FELLOWSHIP OF INDEPENDENT EVANGELICAL CHURCHES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

24 Analysis of net assets between funds (Continued)

Unrestricted
Restricted
funds
funds
2024
2024
£
£
At 31 August 2024:
Property, plant and equipment
756,544
124,212
Net current assets
643,367
673,744
Long term liabilities
(50,000)
-
1,349,911
797,956		 Total
2024
£
880,756
1,317,111
(50,000)
2,147,867

25 Operating lease commitments

Lessee

At the reporting end date the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

Within one year
Between two and five years		 2025
£
2,008
3,454
5,462		 2024
£
2,008
5,462
7,470

FELLOWSHIP OF INDEPENDENT EVANGELICAL CHURCHES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

26 Related party transactions

Transactions with related parties

During the year the charity entered into the following transactions with related parties:

The trustees /directors of The Fellowship Property Trust are appointed by members of the charity. During the year ended 31 August 2025 FIEC charged rent to the Trust of £0 (2024 - £667) and various expenses (including staff salaries) of £24,111 (2024: £27,172).

The Fellowship Property Trust held properties in Trust for FIEC member churches.

Members of Edward Connor Solicitors (ECS) are Trustees of FIEC from time to time. During the year ended 31 August 2025 the charity received rental income of £1,000 (2024: £0) and recharged various expenses (including staff salaries) of £19,244 (2024: £20,946). In addition, FIEC received legal advice from ECS and incurred other various costs of £13,842 (2024: £15,145).

27 Cash generated from operations 2025 2024
£ £
Deficit for the year (209,724) (31,677)
Adjustments for:
Investment income recognised in statement of financial activities (27,159) (35,125)
Loss on disposal of property, plant and equipment - 982
Depreciation and impairment of fixed assets 17,587 15,746
Movements in working capital:
Decrease in inventories 716 5,726
Decrease/(increase) in trade and other receivables 310,706 (396,027)
(Decrease)/increase in trade and other payables (34,605) 61,442
Increase in deferred income 145,246 36,723
Cash generated from/(absorbed by) operations 202,767 (342,210)

28 Analysis of changes in net funds

The charity had no material debt during the year.