Company registration number: 04919145
Charity registration number: 1102331
Annual report and unaudited financial statements
for the year ended 31 December 2025
for
LSVTM Limited
(limited by guarantee)
LSVTM Limited
(limited by guarantee)
Contents page
for the year ended 31 December 2025
Page
Trustees' report 1
Independent examiner’s report to the trustees of LSVTM Limited 4
Statement of financial activities 5
Balance sheet 6
Notes to the financial statements 8
LSVTM Limited
(limited by guarantee)
Trustees’ report
for the year ended 31 December 2025
The trustees, who are also directors of the charitable company for the purposes of the Companies Act 2006, present their report with the financial statements of the charitable company for the year ended 31 December 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 main objective of the charity is the advancement of the Christian religion. LSVTM supports the translation and production of Christian literature, audio and visuals in the Serbian language for distribution in Serbia and wherever the Serbian language is spoken throughout the world. In pursuance of its objectives the charity produces audio visual publications, including books, cd’s and DVDs which, as well as the literature and audio visuals previously published, are available in the Serbian language for Serbian speaking people throughout the world. In addition, some of the publications will also, where possible, be published in due course in other languages. Work is currently being undertaken to make available online, subject to the consent of copyright holders, much of the current and past catalogues.
Public benefit
In planning the activities of the charitable company the trustees have considered the Charity Commission’s guidance on public benefit and, in particular,the specific guidance on charities for the advancement of religion.
Achievements and performance
Charitable activities
The following items were produced and distributed during the year and the website was maintained. 1. Alive in Christ by Charles Price Already translated and placed on LSVTM website for online reading and in PDF 2. The Mystery of Godliness by Major W. Ian Thomas Checking translation and 5 first chapters placed on on LSVTM website 3. Book of 20 Spurgeon’s sermons Checking & typesetting 4. Today’s Gospel - authentic or synthetic by Walter J. Chantry Checking translation We again thank God for His ongoing goodness and look forward to the challenges to come.
Financial review
Financial position
The total income for the year was £1628 and total expenditure on charitable activities amounted to £3719. The balance on resources at the year end was £3574.
Principal risks and uncertainties
The company is subject to the uncertainty connected with generous voluntary donations from is supporters, in common with many small charitable organisations.
1
LSVTM Limited
(limited by guarantee)
Trustees’ report - continued
for the year ended 31 December 2025
Structure, governance and management
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. LSVTM is a company limited by guarantee governed by its Memorandum and Articles of Association dated 21st September 2013. It is registered as a charity with the Charity Commission. Members of the charitable company guarantee to contribute amounts not exceeding £10 to the assets of the charitable company in the event of winding up.
Recruitment and appointment of new trustees
The trustees keep the composition of the board under review and will seek to appoint additional members with appropriate skills and expertise should the need arise. Interested parties are given details of the background of the charitable company in order to make them aware of current activities. New trustees are recruited through personal recommendation. To be appointed trustees must be: a) Born again committed Christian. b) Protestant, evangelical background. c) In complete agreement with LSVTM’s statement of faith. d) concerned for the advancement of the Christian faith through the ministry of LSVTM in the production and publication of Christian literature, audio and video in the Serbian language both for the country of Serbia and for Serbian speakers wherever found.
Reference and administrative details
Company registration number
04919145
Charity registration number
1102331
Trustees
The trustees shown below have held office during the period from 1 January 2025 to the date of this report.
V O'Sullivan
J Cullis
S Gretton
Registered office
33 Cambria Place
Swindon
Wiltshire
SN1 5DN
2
LSVTM Limited
(limited by guarantee)
Trustees’ report - continued
for the year ended 31 December 2025
Reference and administrative details - continued
Independent examiners
Chris Vaughan
195 Ermin Street
Stratton St Margaret
Swindon
Wiltshire
SN3 4NA
United Kingdom
This report was approved by the trustees on 7 September 2026 and signed on their behalf by:
J Cullis, Trustee
7 September 2026
3
Independent examiner’s report to the trustees of LSVTM Limited
I report on the accounts of LSVTM Limited (the “charitable company”) for the year ended 31 December 2025.
Responsibilities and basis of report
As trustees of the charitable 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 charitable 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 the charitable company’s accounts carried out under section 145 of the Charities Act 2011 (“the 2011 Act”) and in carrying out my examination, I have followed all applicable Directions given by the Charity Commission under 145(5)(b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the charitable 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.
Christopher Vaughan
Chris Vaughan
195 Ermin Street
Stratton St Margaret
Swindon
Wiltshire
SN3 4NA
United Kingdom
Date: 7 September 2026
4
LSVTM Limited
(limited by guarantee)
Statement of financial activities
for the year ended 31 December 2025
2025 2024
Unrestricted funds
Total funds
Note £ £
Income from:
Donations and legacies 3 1,576 1,342
Charitable activities 4 - 102
Investments 5 52 69
Total 1,628 1,513
Expenditure on:
Charitable activities 6 (3,750) (1,612)
Net movement in funds (2,122) (99)
Reconciliation of funds:
Total funds brought forward
5,696 5,795
Total funds carried forward
3,574 5,696
5
Company registration number: 04919145
LSVTM Limited
(limited by guarantee)
Balance sheet
as at 31 December 2025
2025 2024
Note £ £ £ £
Fixed assets
Tangible assets 13 1 1
1 1
Current assets
Debtors 14 1,138 1,078
Investments 15 2,287 4,235
Cash at bank and in hand 16 484 725
3,909 6,038
Creditors: amounts falling due within one year
17 (336) (343)
Net current assets 3,573 5,695
NET ASSETS 3,574 5,696
The funds of the charity:
Unrestricted funds 3,574 5,696
TOTAL FUNDS 18 3,574 5,696
The company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies for the year ended 31 December 2025.
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 to comply with the Companies Act 2006 in respect to accounting records and the preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
6
Company registration number: 04919145
LSVTM Limited
(limited by guarantee)
Balance sheet - continued
as at 31 December 2025
These financial statements were approved by the Board of trustees and authorised for issue on 7 September 2026 and signed on its behalf by:
J Cullis, Trustee
7 September 2026
7
LSVTM Limited
(limited by guarantee)
Notes to the financial statements
for the year ended 31 December 2025
1 Statutory information
LSVTM Limited is a charitable company registered in England and Wales. Its company registration number is 04919145 and its charity registration number is 1102331. The charitable company is limited by guarantee. Its registered office is 33 Cambria Place, Swindon, Wiltshire, SN1 5DN.
2 Accounting policies
Basis of preparing the financial statements
These 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)’, the 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 historic cost convention.
Going concern
In preparing these financial statements, the trustees have assessed whether there are any material uncertainties related to events or conditions that cast significant doubt upon the charitable company’s ability to continue as a going concern. In making this assessment, the trustees take into account all available information about the future which is at least 12 months from the date that the financial statements are authorised for issue.
The trustees consider that the charitable company has adequate resources to continue in business for the foreseeable future and that it is appropriate to adopt the going concern basis in preparing the financial statements.
Income
All income is recognised in the Statement of financial activities once the charitable company has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charitable company 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.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Fixtures and fittings:
Depreciation - 15% reducing balance
8
LSVTM Limited
(limited by guarantee)
Notes to the financial statements - continued
for the year ended 31 December 2025
2 Accounting policies - continued
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 charitable company. 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.
3 Income from donations and legacies
2025 2024
Unrestricted funds
Total funds
£ £
Donations 1,576 1,342
4 Income from charitable activities
2025 2024
Unrestricted funds
Total funds
£ £
Gospel propagation - 102
2025 2024
Unrestricted funds
Total funds
£ £
Sales of publications - 102
5 Investment income
2025 2024
Unrestricted funds
Total funds
£ £
Interest receivable and similar income
52 69
9
LSVTM Limited
(limited by guarantee)
Notes to the financial statements - continued
for the year ended 31 December 2025
6 Expenditure on charitable activities
Analysis by type of fund
2025 2024
Unrestricted funds
Total funds
£ £
Gospel propagation 3,750 1,612
Analysis by type of expenditure
2025 2024
Direct costs (see note 7)
Support costs (see note 8)

Total Total
£ £ £ £
Gospel propagation 3,383 367 3,750 1,612
7 Direct costs
2025 2024
Unrestricted funds
Total funds
£ £
Other costs 3,383 1,269
8 Support costs
Support costs, grouped by function, are apportioned to activities as follows:
2025 2024
Managem’t Governance costs
Total Total
£ £ £ £
Gospel propagation 31 336 367 343
10
LSVTM Limited
(limited by guarantee)
Notes to the financial statements - continued
for the year ended 31 December 2025
8 Support costs - continued
Support costs, grouped by function, are analysed as follows:
2025 2024
Managem’t Governance costs
Total Total
£ £ £ £
Other costs 31 336 367 343
9 Independent examiner’s remuneration
2025 2024
£ £
Fees paid to the charitable company’s independent examiner for:
Independent examination of the charitable company’s annual accounts 336 343
10 Trustees’ remuneration and expenses
The trustees did not receive any remuneration or other benefits in either year.
Trustees’ expenses
No trustee was reimbursed for expenses incurred in either year.
11 Employees
During the year the average number of employees was as follows:
2025 2024
1 1
No employees received emoluments exceeding £60,000 in either year.
11
LSVTM Limited
(limited by guarantee)
Notes to the financial statements - continued
for the year ended 31 December 2025
12 Comparatives for the Statement of financial activities
Unrestricted funds
£
Income from:
Donations and legacies 1,342
Charitable activities 102
Investments 69
Total 1,513
Expenditure on:
Charitable activities (1,612)
Net movement in funds (99)
Reconciliation of funds:
Total funds brought forward 5,795
Total funds carried forward 5,696
13 Tangible fixed assets
Depreciation
£
Cost
At 1 January 2025 1,876
At 31 December 2025 1,876
Depreciation
At 1 January 2025 1,875
At 31 December 2025 1,875
Net book value
At 31 December 2025 1
At 31 December 2024 1
12
LSVTM Limited
(limited by guarantee)
Notes to the financial statements - continued
for the year ended 31 December 2025
14 Debtors
2025 2024
£ £
Other debtors 1,138 1,078
15 Current asset investments
2025 2024
£ £
Other investments 2,287 4,235
16 Cash at bank and in hand
2025 2024
£ £
Other bank accounts 476 720
Cash in hand 8 5
484 725
17 Creditors: amounts falling due within one year
2025 2024
£ £
Accruals and deferred income 336 343
18 Movement in funds
At 1 January 2025
Income Expenditure At 31 December 2025

£ £ £ £
Unrestricted funds
General fund 5,696 1,628 (3,750) 3,574
13
LSVTM Limited
(limited by guarantee)
Notes to the financial statements - continued
for the year ended 31 December 2025
18 Movement in funds - continued
Comparatives for movement in funds
At 1 January 2024
Income Expenditure At 31 December 2024

£ £ £ £
Unrestricted funds
General fund 5,795 1,513 (1,612) 5,696
At 1 January 2024
Income Expenditure At 31 December 2024

£ £ £ £
Total funds 5,795 1,513 (1,612) 5,696
19 Analysis of net assets
At 31 December 2025
Unrestricted funds
£
Fixed assets
Tangible fixed assets 1
Current assets
Debtors 1,138
Investments 2,287
Cash at bank and in hand 484
3,909
Creditors: amounts falling due within one year
(336)
Net current assets 3,573
Total assets less current liabilities 3,574
Net assets 3,574
14
LSVTM Limited
(limited by guarantee)
Notes to the financial statements - continued
for the year ended 31 December 2025
19 Analysis of net assets - continued
At 31 December 2024
Unrestricted funds
£
Fixed assets
Tangible fixed assets 1
Current assets
Debtors 1,078
Investments 4,235
Cash at bank and in hand 725
6,038
Creditors: amounts falling due within one year
(343)
Net current assets 5,695
Total assets less current liabilities 5,696
Net assets 5,696
15