Morris Cerullo World Evangelism

	Page
Trustees' Report	1—6
Independent Examiner's Report	7
Statement of Financial Activities (including Income and Expenditure Account)	8
Balance Sheet	9
Notes to the Financial Statements	10—15

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

Objectives and Activities

Significant Activities

Areas of activity during the year:

Literature
Events and Crusades
Prayer lines
Membership
World Wide Outreach Support

Literature

The Charity continued to distribute Christian literature around the World in English, Spanish, German and Hebrew.

2025 Events and Crusades (UK)

No UK meetings took place in 2025.

2025 Events and Crusades (Overseas)

During the period the Charity contributed to successful Missions in:

USA
Costa Rica
Mexico
Brazil
Nigeria
Indonesia
Malaysia
Panama
Kenya
Israel

Public Benefit

Morris Cerullo World Evangelism meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.

The trustees confirm that they have complied with the requirements of Section 17 of the Charities Act 2011 to have due regard to the Charity Commission’s guidance on public benefit.

Volunteers

The part played by volunteers in achieving our objectives is huge. In keeping with recommended practice we have made an estimate of the number of hours that partners in the Ministry have given us free of charge during the year.

We rely on volunteers not only to man our prayer lines at the office during the week but also to act as ushers, security guards and sales staff at our events. Some travel long distances at their own expense; without their dedication many of the services that the Charity offers to the wider public would not happen.

For this twelve month period across our events, prayer line and office assistance. We had 40 volunteer hours.

Achievements and Performance

Main Achievements

Our ministry online and this is still growing, reaching every major country on the planet has become even more important. With our online interaction increasing to over 1 million people. Daily live video content is broadcast around the world.

There is also a monthly subscription (GVA), which provides a bi-monthly magazine and regular updates on the activities of the Charity.

...CONTINUED

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Morris Cerullo World Evangelism

Trustees' Report (continued)

For The Year Ended 31 December 2025

Main Achievements - continued

UK Mission Support

One thing approved by the board was supporting other like minded ministries with the same goal to spread the gospel and the Christian faith in their local community. A gift of £300,000 was sent to COM Church for this purpose.

Prayer Lines

Prayer is offered on our main MCWE phone lines, with our UK office staff and volunteers praying with anyone who requests prayer support.

Memberships

During the period Jan to Dec 2025 12 new members were added to the Charity’s mailing list.

Plans for 2026

A main focus has been to continue get UK & European partners to visit the Legacy International Centre in San Diego, support Don Mandell conduct School’s of Ministry around the globe and support the online initiative to reach 2 million souls for Christ and beyond.

Financial Review

Financial Position

The Board presents the report and financial statements of Morris Cerullo World Evangelism (MCWE) for the 12 month period ended 31st December 2025, the statements appear in the format required by the Statement of Recommended Practice for Accounting and Reporting by Charities (revised March 2005). The report and statements also comply with the Companies Act 1985 since MCWE was incorporated by guarantee on 20th March 1984. It has no share capital and is a registered charity. The guarantee of each member is limited to £1. The governing document is the Memorandum and Articles of Association of the Company and members of the Board of Trustees are the Directors of the Company.

Review of Financial Position

This past twelve months saw our giving contact and partner base get smaller but the partner left on the file are still giving faithfully to the Charities mission.

Information on Fundraising Practices

Our fundraising activities are limited to tithes and offerings at our local events, as per many standard Church organisations. This is combined with regular mailings into our donors homes ministering and encouraging them to play an active role in carrying the financial burden of our Worldwide missions.
We do not use any outside fundraising organisations.
We do not apply for grant funding from any other organisation. We’re 100% donor supported.

Reserves Policy

MCWE Inc USA works in conjunction with the Charity and provides financial support to see the fulfilment of their common objectives.

The Charity has a contractual obligation to reimburse MCWE USA for all expenditure incurred on its behalf and as reflected in these accounts, in the development of literature, publications and other training materials and products.

According to an operations agreement with MCWE USA, the Charity has the responsibility to repay these obligations quarterly. This obligation will be met as and when funds are available.

MCWE USA confirms that it will continue to provide financial support to the Charity to meet its ministry objectives.

In view of the above arrangements the Trustees do not consider that any specific level of reserves needs to be maintained.

Principal Funding Sources

The Charity continues to be funded entirely from contributions made by the Members and other donors. It is not the policy of the Charity to ask or apply for grants or loan funding.

Investment Policy and Objectives

The Ministry has no specific investment policy. The Trustees believe the donated funds should be utilised for the purpose they were given.

Due to the uncertain nature of the foreign exchange market the Trustees have opted out of the currency market for the foreseeable future.

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Morris Cerullo World Evangelism

Trustees' Report (continued)

For The Year Ended 31 December 2025

Risk Management

The Board of Trustees had reviewed during the previous period an assessment of the risks to which the Charity is exposed, particularly business, operational and financial risks and introduced through the Executive Team a reporting regime to manage and reduce the identified risks. The Trustees agreed clear lines of delegation and authority to the Executive Team.

The income of the Charity is beginning continuing on a downward trend, the primary concern of the Board is the perceived increasing age of its donors and the need to establish a strategy to attract younger donors remains a priority. This was considered and discussed at length at the AGM again in detail.

No changes have been made to our charitable trust and MCWE UK in this financial period.

The Legacy Centre continues to hold events and is advancing our vision to share the gospel of Jesus Christ around the world with all people.

As you can see from the report on page 12 and in line with wider charity trends in the UK, we have seen a decline in financial engagement during this period.

Structure, Governance and Management

Trustee Selection Methods

The maximum number of Trustees allowed under the constitution is ten. The minimum required under the charity’s constitution being three. Trustees are appointed as deemed necessary by the existing board from a short list drawn up for consideration by the Executive Team. This short list is drawn from the wider non voting membership. One third of the Board offers itself for re-election by rotation at the Annual General Meeting, providing they have served at least one year. The Chair and officers are appointed by the Trustees from among their number. The whole Board convenes once a year, but is reported to on a weekly and monthly basis by the Executive Team. The Board, from time to time will consult by means of video or telephone conferencing. Those Trustees offering themselves for re-election were re-elected unanimously.

Prior to appointment each prospective Trustee signs a code of conduct and is required to complete an extensive questionnaire to enable the Board to assess in detail each candidate’s suitability and relevant experience. On appointment a new Trustee receives a copy of the Memorandum and Articles of Association of the Company together with the most recent accounts and the information pack provided to all Trustees for the Annual General Meeting. This pack is extensive. All new Trustees also receive a copy of the Charity Commission leaflet CC3. The Executive Team is instructed to update the members of the Board as required regarding UK law and accounting regulations in so far as changes may affect the charity. All new Trustees are invited to the UK office to meet the staff.

Because MCWE is a genuinely world wide organisation, communication via the internet and computer systems is important. To ensure these systems are maintained and updated to maximise the organisation’s efficiency, we have Tim Preston of Northgate Solutions as an IT consultant. Tim is available for extended hours to enable the organisation’s systems to be maintained. Our USA partnering office also provide systems support.

Five United Kingdom resident Trustees in addition to David Cerullo who is involved in the day-to-day management of the charity - they are Peter Tod, Andre Taylor, Verona Powell, Andreas Yiangou and Julian Richards. Rev Greg Mauro is responsible for the operational and ministry functions and is in daily contact with Julian Richards the European Director. However, practically the Trustees delegate the management of MCWE to the European Director, who reports on the performance against the strategic and operational plans approved by the Trustees.

Membership of MCWE

The only full members of MCWE and those entitled to vote are the members of the Board for the time being. There are a number of graded non-voting memberships, which carry a variety of benefits. These are as follows:

President
GVA Eagle
Chairman’s Inner Council
Board of Governors
Diamond Executive Elder
Executive Elder
Elder

There is also a monthly subscription (GVA), which provides a bi-monthly magazine and regular updates on the activities of the Charity.

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Morris Cerullo World Evangelism

Trustees' Report (continued)

For The Year Ended 31 December 2025

Organisational Structure

Management and Staffing

Julian Richards the European Director and Oliver Palmer the Office Manager has the responsibility for planning and developing the services and strategies for MCWE within the clearly defined policies set by the Trustees at the Annual General Meeting as updated from time to time by direct instruction. They ensures that the staff team is recruited and supported to provide the skills and expertise needed to run a successful Christian organisation and that the moral and ethical values of MCWE are observed and maintained.

No changes to staff in 2025.

The accounts here in are for the 12 month period through to the end of December 2025 continuing the Charites regular calendar financial submissions.

Additional Notes for Stucture, Governance and Management

Trustees’ Responsibilities

Company law requires the Directors and Trustees to prepare accounts for each financial year, which give a true and fair view of the state of affairs of

The Company and of the surplus or deficit of the Company for that period. In preparing these accounts the Directors and Trustees are required to:

Select suitable accounting policies and then apply them consistently;
Make judgements and estimates that are reasonable and prudent;
Prepare the accounts on a going concern basis unless it is inappropriate to presume that the Company will continue in business.

The Directors and Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the accounts comply with the Companies Act 1985. The Directors and Trustees are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Following late filings in 2015 the board took steps to chase down administrative procedures to avoid late filings.

Reference and Administrative Details

Trustees

Mr Julian Richards

Mr Andreas Yiangou

Ms Verona Powell

Mr Andrew Taylor

Mr Peter Tod

Mr David Cerullo

Charity Number

1001361

Company Number

02175712

Principal Address

The Lodge The Green

Houghton Hall

Houghton Regis

Bedfordshire

LU5 5DY

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Morris Cerullo World Evangelism

Trustees' Report (continued)

For The Year Ended 31 December 2025

Registered Office

The Lodge Houghton Hall

The Green

Houghton Regis

Bedfordshire

LU5 5DY

Independent Examiner

Suzanne Spicer FCA

Spicer & Co UK Limited

Chartered Accountants

Staple House
5 Eleanors Cross
Dunstable
Bedfordshire
LU6 1SU

Bankers

HSBC Plc

63 George Street

Luton

Bedfordshire

LU1 2AR

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Morris Cerullo World Evangelism

Trustees' Report (continued)

For The Year Ended 31 December 2025

Small Company Rules

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

The trustees' report was approved by the board of trustees and signed on its behalf by:

Mr Julian Richards

Trustee

30/09/2026

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Morris Cerullo World Evangelism

Independent Examiner's Report to the Trustees of Morris Cerullo World Evangelism

For The Year Ended 31 December 2025

Independent Examiner's Report to the Trustees of Morris Cerullo World Evangelism

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

Responsibilities and Basis of Report

As the charity 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

Since the Company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of The Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

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:

accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
the accounts do not accord with those records; or
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
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.

Suzanne Spicer FCA

30/09/2026

Spicer & Co UK Limited

Chartered Accountants

Staple House
5 Eleanors Cross
Dunstable
Bedfordshire
LU6 1SU

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Morris Cerullo World Evangelism

Statement of Financial Activities (including Income and Expenditure Account)

For The Year Ended 31 December 2025

Statement of Financial Activities (including Income and Expenditure Account)

		2025	2024
		Unrestricted funds	Unrestricted funds
	Notes	£	£
INCOME AND ENDOWMENTS FROM:
Donations and legacies	3	441,927	504,993
Charitable activities:
Charitable Activites		2,220	3,370
Other	4	-	935

		444,147	509,298

EXPENDITURE ON:
Charitable activities:	6
Charitable Activites		(547,843 )	(354,830 )

NET (EXPENDITURE)/INCOME BEFORE INVESTMENT (LOSSES)/GAINS		(103,696)	154,468
Net losses on investments		-	(7,158 )

NET (EXPENDITURE)/INCOME		(103,696 )	147,310


NET MOVEMENT IN FUNDS		(103,696 )	147,310
RECONCILIATION OF FUNDS:
Total funds brought forward		268,072	120,762

TOTAL FUNDS CARRIED FORWARD	17	164,376	268,072

The notes on pages 10 to 15 form part of these financial statements.

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Morris Cerullo World Evangelism

Balance Sheet

As At 31 December 2025

Balance Sheet

		2025	2024
		Unrestricted funds	Total funds
	Notes	£	£
FIXED ASSETS
Tangible Assets	12	1,531	2,450

		1,531	2,450
CURRENT ASSETS
Debtors	13	50,081	32,805
Cash at bank and in hand		119,116	237,068

		169,197	269,873
Creditors: Amounts Falling Due Within One Year	14	(6,352 )	(4,251 )

NET CURRENT ASSETS (LIABILITIES)		162,845	265,622

TOTAL ASSETS LESS CURRENT LIABILITIES		164,376	268,072

NET ASSETS		164,376	268,072

FUNDS OF THE CHARITY
Unrestricted Funds		164,376	268,072

TOTAL FUNDS	17	164,376	268,072

For the year ending 31 December 2025 the charitable company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

On behalf of the board

Mr Julian Richards

Trustee

30/09/2026

The notes on pages 10 to 15 form part of these financial statements.

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Morris Cerullo World Evangelism

Notes to the Financial Statements

For The Year Ended 31 December 2025

Notes to the Financial Statements

1. General Information

Morris Cerullo World Evangelism is a company limited by guarantee, incorporated in England & Wales, registered number 02175712 and registered charity number 1001361 . The registered office is The Lodge Houghton Hall, The Green, Houghton Regis, Bedfordshire, LU5 5DY.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements 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 charitable company is a Public Benefit Entity as defined by FRS 102.

2.2. Going Concern Disclosure

After making appropriate enquiries, the Trustees have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements.

2.3. Fund Accounting

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

Designated funds comprise unrestricted funds that have been set aside by the trustees for a specific purpose.

Restricted funds are to be used for specific purposes as laid down by the donor.

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

2.4. Incoming Resources

All incoming resources are included on the Statement of Financial Activities when the charitable company is legally entitled to the income and the amount can be quantified with reasonable accuracy.

2.5. Resources Expended

Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs 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.

Grants offered subject to conditions which have not been met at the year-end date are noted as a commitment but not accrued as expenditure.

2.6. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant & Machinery

25%-50% on written down value

2.7. Investments

Current asset investments are initially measured at cost and are subsequently re-measured at their fair value.These are investments which held for resale or pending their sale.

2.8. Cash and Cash Equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.

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Morris Cerullo World Evangelism

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

2.9. Financial Instruments

The Company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

2.10. Provisions and Contingencies

Provisions

Provisions are recognised when the charitable company has a present legal or constructive obligation as a result of past events; it is probable that an outflow of resources will be required to settle the obligation; and the amount of the obligation can be estimated reliably.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the time value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as a finance cost.

Contingencies

Contingent liabilities are not recognised. Contingent liabilities arise as a result of past events when (i) it is not probable that there will be an outflow of resources or that the amount cannot be reliably measured at the reporting date or (ii) when the existence will be confirmed by the occurrence or non-occurrence of uncertain future events not wholly within the charitable company’s control. Contingent liabilities are disclosed in the financial statements unless the probability of an outflow of resources is remote.

Contingent assets are not recognised. Contingent assets are disclosed in the financial statements when an inflow of economic benefits is probable.

2.11. Pensions

The charitable company operates a defined pension contribution scheme. Contributions are charged to the Statement of Financial Activities as they become payable in accordance with the rules of the scheme.

2.12. Government Grant

Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the statement of financial activities over the useful life of the asset concerned.

3. Income from Donations and Legacies

	2025	2024
	Unrestricted	Unrestricted
	funds	funds
	£	£
Donations and gifts	441,927	504,993

4. Other Income

	2025	2024
	Unrestricted funds	Unrestricted funds
	£	£
Rental and other income from property	-	935

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Morris Cerullo World Evangelism

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

5. Net Income/(Expenditure)

The net (expenditure)/income is stated after charging/(crediting):

	2025	2024
	£	£
Depreciation of tangible fixed assets - owned	919	1,471

6. Analysis of Expenditure

			2025
	Activities undertaken directly (see note 7 )	Support costs (see note 8 )	Total
	£	£	£
Charitable Activites	428,599	119,244	547,843

			2024
	Activities undertaken directly (see note 7 )	Support costs (see note 8 )	Total
	£	£	£
Charitable Activites	205,404	149,426	354,830

7. Direct Costs

	2025	2024
	Charitable Activites	Charitable Activites
	£	£
Fundraising activities	311,017	64,994
Employee costs	92,319	110,717
General administration	25,263	29,693

	428,599	205,404

8. Support Costs

	2025	2024
	Charitable Activites	Charitable Activites
	£	£
Employee costs	75,144	81,950
Premises expenses	23,935	28,857
General administration	19,246	37,148
Depreciation	919	1,471

	119,244	149,426

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Morris Cerullo World Evangelism

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

9. Independent Examiner's Remuneration

	2025	2024
	£	£
Independent examination of the financial statements	2,640	2,640

10. Staff Costs

Staff costs were as follows:

	2025	2024
	£	£
Wages and salaries	137,644	142,950
Social security costs	16,857	14,392
Other pension costs	3,089	23,201

	157,590	180,543

No employees received employee benefits (excluding employer pension costs) for the reporting period of more than £60,000.

11. Average Number of Employees

Average number of employees during the year was: 4 (2024: 4)

12. Tangible Assets

	Plant & Machinery
	£
Cost
As at 1 January 2025	164,628

As at 31 December 2025	164,628

Depreciation
As at 1 January 2025	162,178
Provided during the period	919

As at 31 December 2025	163,097

Net Book Value
As at 31 December 2025	1,531

As at 1 January 2025	2,450

13. Debtors

	2025	2024
	£	£
Due within one year
Other debtors	50,081	32,805

14. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Other creditors	6,352	4,251

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Morris Cerullo World Evangelism

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

15. Other Commitments

The total of future minimum lease payments under non-cancellable operating leases are as following:

	2025	2024
	£	£
Not later than one year	-	5,137

	-	5,137

16. Pension Commitments

The charitable company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the charitable company in an independently administered fund.

During the year the charge to the statement of financial activities in respect of defined contribution schemes was £3,089 (2024: £23,201).

At the balance sheet date contributions of £NIL were due to the fund and are included in creditors.

17. Movement in Funds

	As at 1 January 2025	Income	Expenditure	As at 31 December 2025
	£	£	£	£
Unrestricted funds
General:
General unrestricted fund	268,072	444,147	(547,843 )	164,376


Total funds	268,072	444,147	(547,843 )	164,376

	As at 1 January 2024	Income	Expenditure	As at 31 December 2024
	£	£	£	£
Unrestricted funds
General:
General unrestricted fund	120,762	509,298	(361,988 )	268,072


Total funds	120,762	509,298	(361,988 )	268,072

18. Transactions with Trustees

During the year the expenses reimbursed to the trustees or paid directly to third parties were as follows:

	2025	2024
	£	£
Travel	-	4,958

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Morris Cerullo World Evangelism

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

19. Related Party Disclosures

Mr D Cerullo, who is a Trustee of Morris Cerullo World Evangelism Ltd, is also a Trustee of Morris Cerullo World Evangelism Inc.

The following transactions took place in the period:

Reimbursed expenses relating to partner appeals - i.e. promotion, teaching, training and monthly publications (including all production, creative work, printing and postage) were performed on behalf of MCWE Ltd totalling £0 (2024 - £550,383).

20. Company limited by guarantee

The company is limited by guarantee and has no share capital.

Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.

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