David Pawson Publishing Limited - Charities report

REGISTERED COMPANY NUMBER: 00661108 (England and Wales)

REGISTERED CHARITY NUMBER: 224579

DAVID PAWSON PUBLISHING LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Page

Report of the Trustees

1

to

2

Independent Examiner's Report

3

Statement of Financial Activities

4

Balance Sheet

5

to

6

Notes to the Financial Statements

7

to

12

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2025. The trustees have adopted the provisions of 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

Objectives and aims

The principle objectives of the charity are the production, supply and distribution of bible teaching material.

Significant activities

The principal activities of the charity have evolved from the production and sale of audio cassettes, to producing and distributing compact discs, and DVDs, from a variety of Christian writers and speakers to, in more recent times, publishing an extensive range of books with a particular focus on the works of the late Reverend David Pawson MA BSc. This material is supplied to customers worldwide. Whilst production of physical media has reduced significantly, David Pawson Publishing Ltd has successfully evolved into the digital era, with online streaming services including audio and video programmes and most recently the launch of a free online book reader.

Public benefit

The directors have complied with their duty in section 17 of the Charities Act 2011 to have due regard to the Charity Commission's guidance on public benefit.

ACHIEVEMENT AND PERFORMANCE

Charitable activities

The major focus in 2024/25 has been the ongoing publishing of books and increasingly other language translations. Sales of these books is mostly via online Print on Demand platforms however orders are still received via the online shop for fulfilment of books, DVDs, and USB memory sticks. We continue to add new translations to the book catalogue

The change in business model in 2011, moving from the commercial sales of physical media to a ''free to download'' online streaming service continues to suppress income. Income has switched from sales of physical media to voluntary donations and royalties from digital sales, including Amazon Books/Kindle and numerous International Book Publishers.

FINANCIAL REVIEW

Financial position

The company is reporting a deficit of £59,496 (2024: surplus of £236,997) for the year to 31st March 2025.

The change in business model in 2011, moving from the commercial sales of media to ''free to download'' continues to suppress income..

The company continues to hold a sufficient level of funds to continue its charitable activities in line with the current strategy.

Reserves policy

The Trustees have considered the levels of reserves and consider them to be appropriate.

FUTURE PLANS

Working in conjunction with the David Pawson Ministry CIO the company plans to continue the work in digitising its existing library of material with a view to increasing the availability of this material for free streaming/download.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is constituted as a company limited by guarantee, with the amount of the guarantee restricted to a maximum of £1 per member. The company is governed by its memorandum and articles of association. The governance and running of the charity is the responsibility of the trustees who also form the board of directors of the company. The trustees usually meet twice a year.

Organisational structure

The charity was historically based in Ashford, Kent. In 2020 the warehouse and office were officially closed and sold, and exited this site completely during 2021 after the sale of the remaining property in Kennington, Ashford. The charity has successfully transferred all activities to the office in Reading that deals with order fulfilment and all charitable activities. Day to day operations of the charity are supported by a team of volunteers assisted by one full time and three part time employees. During 2020/2021 the Company registered a change of name from Anchor Recordings Ltd to David Pawson Publishing Ltd to reflect the nature and focus of the business.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

00661108 (England and Wales)

Registered Charity number

224579

Registered office

Synegis House

21 Crockhamwell Road

Woodley

RG5 3LE

Trustees

S C Dally Company Director

Reverend A Dinnie

A G Kittow Director

Company Secretary

Reverend A Dinnie

Independent Examiner

L Redman

Shaw Gibbs Limited

Wey Court West

Union Road

Farnham

Surrey

GU9 7PT

Approved by order of the board of trustees on 29 November 2025 and signed on its behalf by:

S C Dally - Trustee

Independent examiner's report to the trustees of David Pawson Publishing Limited ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2025.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

1.	accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or

2.	the accounts do not accord with those records; or

3.	the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

4.

the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

L Redman

Shaw Gibbs Limited

Wey Court West

Union Road

Farnham

Surrey

GU9 7PT

16 December 2025

2025

2024

Unrestricted

Restricted

Total

fund

funds

Notes

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

-

77,814

375,500

Charitable activities

Incoming resources from charitable activities

-

43,621

43,894

Support costs

-

302

-

Investment income

2

6,870

-

6,870

6,472

Total

6,870

121,737

128,607

425,866

EXPENDITURE ON

Raising funds

-

223

Charitable activities

Incoming resources from charitable activities

-

362

Direct charity activities

-

107,016

92,012

Support costs

-

78,957

91,728

Investment costs

2,129

-

2,129

4,544

Total

2,129

185,973

188,102

188,869

NET INCOME/(EXPENDITURE)

4,741

(64,236

)

(59,495

)

236,997

RECONCILIATION OF FUNDS

Total funds brought forward

528,347

246,318

774,665

537,668

TOTAL FUNDS CARRIED FORWARD

533,088

182,082

715,170

774,665

2025

2024

Unrestricted

Restricted

Total

fund

funds

Notes

£

FIXED ASSETS

Tangible assets

7

2,046

-

2,046

2,697

CURRENT ASSETS

Stocks

8

1,950

-

1,950

1,436

Debtors

9

29,886

-

29,886

14,682

Cash at bank

519,619

182,082

701,701

769,586

551,455

182,082

733,537

785,704

CREDITORS

Amounts falling due within one year

10

(20,413

)

-

(20,413

)

(13,736

)

NET CURRENT ASSETS

531,042

182,082

713,124

771,968

TOTAL ASSETS LESS CURRENT

LIABILITIES

533,088

182,082

715,170

774,665

NET ASSETS

533,088

182,082

715,170

774,665

FUNDS

11

Unrestricted funds

533,088

528,347

Restricted funds

182,082

246,318

TOTAL FUNDS

715,170

774,665

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

(a)	ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.

These financial statements have been prepared in accordance with and delivered in accordance with the special provisions applicable to small charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 29 November 2025 and were signed on its behalf by:

S C Dally - Trustee

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

More specifically royalty income includes what is received in the year together with what is receivable for the year and can be estimated with reasonable accuracy.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

2.	INVESTMENT INCOME

2025

2024

£

Interest receivable - trading

6,870

6,472

3.	NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

2025

2024

£

Depreciation - owned assets

2,129

4,544

4.	TRUSTEES' REMUNERATION AND BENEFITS

None of the trustees received any remuneration or other benefits for acting as trustees for the year ended 31st March 2025, nor for the year ended 31st March 2024.

Trustees' expenses

There were no trustees' expenses for the year ended 31st March 2025 (2024: none)

5.	STAFF COSTS

The average monthly number of employees during the year was as follows:

2025

2024

Sales, distribution & administration

2

No employees received emoluments in excess of £60,000.

The directors are the only individuals considered to be key management personnel. One trustee received payment for the provision of management and other services through a company under their control, as disclosed in note 12.

6.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted

Restricted

Total

fund

funds

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

31,618

343,882

375,500

Charitable activities

Incoming resources from charitable activities

43,894

-

43,894

Investment income

6,472

-

6,472

Total

81,984

343,882

425,866

EXPENDITURE ON

Raising funds

223

-

223

Charitable activities

Incoming resources from charitable activities

362

-

362

Direct charity activities

75,937

16,075

92,012

Support costs

10,239

81,489

91,728

Investment costs

4,544

-

4,544

Total

91,305

97,564

188,869

NET INCOME/(EXPENDITURE)

(9,321

)

246,318

236,997

RECONCILIATION OF FUNDS

Total funds brought forward

537,668

-

537,668

TOTAL FUNDS CARRIED FORWARD

528,347

246,318

774,665

7.	TANGIBLE FIXED ASSETS

Office

equipment

£

COST

At 1 April 2024

30,172

Additions

1,478

At 31 March 2025

31,650

DEPRECIATION

At 1 April 2024

27,475

Charge for year

2,129

At 31 March 2025

29,604

NET BOOK VALUE

At 31 March 2025

2,046

At 31 March 2024

2,697

8.

STOCKS

2025

2024

£

Stocks

1,950

1,436

9.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade debtors

608

292

Other debtors

23,065

8,061

Prepayments and accrued income

6,213

6,329

29,886

14,682

10.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade creditors

720

-

Other creditors

345

340

Accrued expenses

19,348

13,396

20,413

13,736

11.	MOVEMENT IN FUNDS

Net

movement

At

At 1.4.24

in funds

31.3.25

£

Unrestricted funds

General fund

528,347

4,741

533,088

Restricted funds

David Pawson Teaching Fund

246,318

(64,236

)

182,082

TOTAL FUNDS

774,665

(59,495

)

715,170

Net movement in funds, included in the above are as follows:

Incoming

Resources

Movement

resources

expended

in funds

£

Unrestricted funds

General fund

6,870

(2,129

)

4,741

Restricted funds

David Pawson Teaching Fund

121,737

(185,973

)

(64,236

)

TOTAL FUNDS

128,607

(188,102

)

(59,495

)

Comparatives for movement in funds

Net

movement

At

At 1.4.23

in funds

31.3.24

£

Unrestricted funds

General fund

537,668

(9,321

)

528,347

Restricted funds

David Pawson Teaching Fund

-

246,318

TOTAL FUNDS

537,668

236,997

774,665

Comparative net movement in funds, included in the above are as follows:

Incoming

Resources

Movement

resources

expended

in funds

£

Unrestricted funds

General fund

81,984

(91,305

)

(9,321

)

Restricted funds

David Pawson Teaching Fund

343,882

(97,564

)

246,318

TOTAL FUNDS

425,866

(188,869

)

236,997

12.	RELATED PARTY DISCLOSURES

The Company operates under a Licence to distribute the works of the Reverend David Pawson. The intellectual property rights to those works are owned by David Pawson Ministry CIO ("DPM"), registered charity no. 1112737. Mr S Dally, a director and trustee of David Pawson Publishing Ltd ("DPPL"), is also a trustee of David Pawson Ministry CIO.

Royalties paid to DPM in the financial year totalled £6,410 (2024: £986). During the year DPPL received donations from DPM of £37,763 (2024 : £295,907). At the balance sheet date DPPL was owed £18,198 by DPM (2024: £4,124). This amount is included in the financial statements within "Other debtors".

For the year ended 31st March 2025 the company paid £23,050 to a company controlled by Mr S Dally for consultancy services (Year ended 31st March 2024 : £28,780). In both years the payments were for services relating to specific project work including Business Development.

13.	RESTRICTED FUNDS

The David Pawson Teaching Fund is a restricted fund to be applied specifically for the promotion of the works of David Pawson. This distinguishes it from the general funds which may be applied in the wider charitable objects of promoting the Christian religion, including the works of other authors.