Jim,
The London watchtower branch annuall financial report says this:
The Society has a consistent income base through Gift Aid . In addition, the primary activity is the manufacture and distribution of Bible based religious literature on behalf of International Bible Students Association, the cost of which is passed on .
The Society works closely with International Bible Students Association, which permits Watch Tower Society to use its facilities for the Society's charitable activities and provides accommodation for volunteers. International Bible Students Association makes a monthly service and maintenance charge to the Society for the facilities it uses and for providing accommodation for volunteers connected with the Society's activities. The Society passes to International Bible Students Association the cost incurred in printing and distributing the Bible-based religious literature manufactured and delivered to destinations on its behalf and all other overhead costs.
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In 2005, the charity made interest-free loans to International Bible Students Association with whom it works closely, in the sum of £3,500,000. This was for the purpose of enabling International Bible Students Association to reduce their indebtedness to their bankers, thereby saving financial costs to the Association. The loan was raised by International Bible Students Association initially to purchase property which is now used by Watch Tower Society .
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A major activity of the charity continues to be the printing and distribution of Bibles and Bible study aids, primarily for International Bible Students Association. The literature is distributed free of charge by IBSA to congregations of Jehovah's Witnesses and then to the public in general . The Society administers the work of Jehovah's Witnesses in Britain and notes that in the year under review, almost 18,000,000 hours were spent by Jehovah's Witnesses in Britain working in their communities helping people morally and spiritually . The Bible study aids printed by the charity offers practical advice on law-abiding citizenship, targeted workable family values for modern living and advises Christian tolerance in a multi-cultural society. Information on such values has a wide appeal as can be seen for the request for more Bibles and Bible study aids by both Jehovah's Witnesses and members of the public.
During the year, a total of 232,000,000 items were printed on the charity's two rotary presses. The main bulk of these items were the Watchtower and Awake journals which had a total printing of approximately 145,000,000. During the year, we increased the number of languages in which the Watchtower and Awake magazines were printed to twenty-eight. The additional languages are for various countries in Africa.
In October 2005, the charity was able to take occupation of a new facility [purchased and renovated by International Bible Students Association] . This facility houses the shipping and warehousing departments of the charity and has released much needed space in IBSA House for printing and finishing of magazines and brochures. The new MAN Roland Rotary Press has lived up to expectations and along with the computer controlled finishing and distribution lines, have enabled the charity to meet its commitments with regard to the introduction of new languages and increasing orders for the printed publications.
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All incoming resources are included in the Statement of Financial Activities (SOFA) when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. No income is deferred. Donations are from the public, congregations and other connected charities. Income from literature arise from literature sold to International Bible Students Association (IBSA), a connected charity on a cost basis in line with the charity's objects. Entitlement to legacies is the earlier of the charity being notified of an impending distribution or the legacy being received.
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The trustees confirm that they have not been involved with any transactions of the charity . The Society has close connections with International Bible Students Association which is a registered charity and has similar objects. This charity has the same registered office as that of the Society.