The trustees present their annual report and financial statements for the year ended 28 February 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 Memorandum and Articles of Association, the Companies Act 2006 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)".
The charity's objects are to advance and demonstrate the Christian faith, in particular by the creation, publication and distribution of educational resources.
Public Benefit
The trustees have complied with the duty in section 17(5) of the 2011 Charities Act to have due regard to guidance published by the Charity Commission and believe that the objectives and activities of the Charity are for the public benefit.
Activities during 2024/25
The Board of Trustees met four times during the 2024/25 financial year. Timothy Low was appointed to the Board of Trustees on 3 February 2025. There were no other changes in the membership of the Board during the year.
During the year, the Board’s activities included:
• Praying for the work and ministry of Biblical Frameworks.
• Supporting Paul Blackham’s ministry and his employment four days a week with Biblical Frameworks.
• Paul Blackham’s work focused on writing new study guides, managing social media campaigns with posts
and blogs, and preparing for future filming.
• Regularly monitoring of progress against the annual plan and budget.
• Progressing the charity’s strategy to broaden access to its resources by making all the Book by
Book videos available for free on YouTube and other video platforms.
• Reviewing the charity’s strategy including longer term financial plans in the light of the shift from selling
DVDs to streaming free video content.
• Reviewing the charity’s safeguarding policy in response to the report from the Makin Review.
Review of marketing activities
Sales of the Book by Book DVDs and study guides and associated royalties during the year were £5,968.
Key developments during 2024-25 included:
• Promoting Book by Book through email marketing promotions and special offers.
• Promoting all the Book by Book videos available for free access on YouTube and other video streaming
platforms.
• Promoting the podcasts produced and delivered by Paul Blackham.
• Increasing the prices of Book by Book products – including Study Guides and eBooks.
• Further developing the digital presence of Biblical Frameworks on social media through an ongoing
campaign of posts and offers.
• Donating Book by Book studies to church ministers and mission partners around the world.
• In conjunction with TBN UK, filming and broadcasting a new Book by Book video study of Colossians.
• Developing new Study Guides – including Hebrews in readiness for the filming in 2025-26 of ten video programmes about Hebrews.
Total incoming resources were £53,558 (2024: £41,815) and total expenditure was £47,771 (2024: £61,387) leading to a surplus of £5,787 (2024: deficit of £19,572) before gains and losses on foreign exchange. Net assets remained strong at £78,438 (2024: £72,685) and provide a solid base for future activities.
Reserves Policy
The Board of Trustees reviewed the Reserves Policy on 8 July 2024 and increased the minimum reserves to be held to £10,000 (previously £5,000). Reserves remained well above this level during the year.
Risk Management
The Board of Trustees maintains a plan to address the risks to which a small charity operating with no or few employees is exposed. Appropriate procedures are in place to identify, monitor and review these risks on a regular basis.
Plans for 2025/26
The plans for the forthcoming year include:
• Filming a ten episode study of Hebrews.
• Developing the new filming partnership following a pilot filming.
• Making all new video studies available on the charity’s YouTube channel.
• Applying for further grants to cover the cost of filming and production of the companion Study Guide.
• Running marketing campaigns to attract new customers, additional sales and increased donations.
• Exploring the scope for additional broadcast and streaming coverage of the Book by Book videos.
• Continuing to donate stock to Christian ministries, mission partners, and relevant distributors.
• Further reducing stock levels to keep storage costs to a minimum.
In planning future activities, the Board of Trustees has had regard to the guidance on public benefit issued by the Charity Commission in December 2008.
The charity is a company limited by guarantee, incorporated on 16 February 2006, and is governed by its Memorandum and Articles of Association. The accountability for the governance of the charity rests with the Board of Trustees that meets regularly to monitor the activities of the charity, develop policy and plans and take operational decisions.
New Trustees with suitable gifts and experience are appointed at the discretion of the existing Trustees. Appropriate induction and training procedures are followed. None of the Trustees have any beneficial interest in the company. All of the Trustees are members of the company and guarantee to contribute up to £1 in the event of a winding up.
The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
The trustees' report was approved by the Board of Trustees.
The trustees, who are also the directors of Biblical Frameworks Limited for the purpose of company law, 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).
Company law 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, including the income and expenditure, of the charitable company for that year.
In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping adequate 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 Companies Act 2006. 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.
I report to the trustees on my examination of the financial statements of Biblical Frameworks Limited (the charity) for the year ended 28 February 2025.
Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.
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 that in any material respect:
accounting records were not kept in respect of the charity as required by section 386 of the Companies Act 2006.
the financial statements do not accord with those records; or
the financial statements do not comply with the accounting requirements of section 396 of the Companies Act 2006 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination; or
the financial statements 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 financial statements 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 financial statements to be reached.
Caladine Limited
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
Biblical Frameworks Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is 9 Castleview Close, London, N4 2DJ.
The financial statements have been prepared in accordance with the charity's Memorandum and Articles of Association, the Companies Act 2006 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)” (as amended for accounting periods commencing from 1 January 2016). The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
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.
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.
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.
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.
Income from sale of Christian resources is recognised as receivable, net of VAT and other sales related taxes.
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.
Property, plant and equipment are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
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:
At the balance sheet date all assets were fully depreciated.
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.
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.
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.
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ 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, 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, 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.
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
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.
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions.
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.
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
The aggregate donations received from the Trustees during the year were £5,100 (2024: £2,400).
The average monthly number of employees during the year was:
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
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.
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.
Paul Blackham Ministry Fund
The purpose of the fund is supporting the ministry of Paul Blackham. In 2023-24 more resources were spent on this support than income received - a transfer from general funds covered this deficit.
Deuteronomy Study
Left over funds from the Numbers Study project will be used to create a new Deuteronomy study guide.
Romans and Colossians Filming
A donation was received to assist with filming new materials on the books of Romans and Colossians. Filming took place during the year to create these new resources and all funds were spent.
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.
There were no disclosable related party transactions during the year (2024 - none).