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2024-03-31-accounts

Trustees’ Report 2024

GSM TRUSTEES’ REPORT 2024 | 1

Contents

3 Company Information 4 Trustees’ Annual Report 24 Independent Examiner’s Report 26 Statement of Financial Activities 28 Balance Sheet 30 Notes to the Accounts 42 Detailed Statement of Financial Activities with Comparatives

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Company Information

TRUSTEES

Jenny Bollans Pip Chisholm Sally Dixon Katherine Gough

Ryan Lynch Simon Martin

Darren Prince

COMPANY SECRETARY

Sally Dixon

GOVERNING DOCUMENT

Memorandum and Articles of Association

(9th March 1995)

COMPANY

REGISTRATION NUMBER

03031141

CHARITY

REGISTRATION NUMBER

1047068

INDEPENDENT EXAMINER

Sarah Crispin ACA Stewardship Lamb’s Passage London

EC1Y 8AB

BANKERS

Barclays Bank plc Churchill Place London E14 5HP

REGISTERED OFFICE AND PRINCIPAL ADDRESS

17 Three Colts Lane Bethnal Green

London

E2 6JL

GSM TRUSTEES’ REPORT 2024 | 3

Trustees’ Annual Report

The Trustees present their Report and the Financial Statements for the year ended 31st March 2024. The Trustees confirm that the Annual Report and Financial Statements of the Charity comply with current statutory requirements, the requirements of the Charity’s governing document and the provisions of the Charity Commission’s Statement of Recommended Practice (SORP).

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STRUCTURE, GOVERNANCE AND MANAGEMENT

The Good Shepherd Mission (GSM, the Mission) is constituted as a registered charity and a company limited by guarantee and has no share capital, the Charity Trustees being Directors of the Company. The liability of each Member in the event of winding up is limited to £10.

Our Board of Trustees, known informally as the Leadership Team, holds responsibility for all areas of the Mission’s activities. The Board met approximately every three weeks during the year.

OBJECTS AND ACTIVITIES

The objects of the Charity as set out in our Constitution are:

We are mindful of the public benefit tests for charities and have complied with the duty in the Charities Act 2011 to have due regard to public benefit guidance published by the Charity Commission. Our mid-week activities and Sunday meetings are open to all and are accessed by a wide range of people of varied ages and backgrounds.

Trustees are normally elected at the Annual General Meeting (AGM). Nonexecutive Trustees retire after a period of three years’ service and may be re-elected for a second term to serve a maximum of six years. Trustees can be appointed during the year to serve until the next AGM, when they have to stand for election. All major decisions that have financial or staffing implications are made by the Board of Trustees, with payments in excess of £2000 being approved in advance by the Trustees and documented in the meeting Minutes. Salaries and other running costs are agreed as part of the annual budgetary process.

These objects are pursued through a range of activities in the different areas of the Charity’s work which are summarised below. These activities are generally led by teams comprising Staff members, Mission members and others from across the East End.

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MISSION STATEMENT

Loving Jesus, loving our neighbours, seeing lives transformed.

VALUES

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love

innovation

hospitality

JESUS

kingdom focus

community on mission

long term

GSM TRUSTEES’ REPORT 2024 | 7

The Report below covers activities from 1st April 2023 to 31st March 2024.

FINANCE REPORT

The results for the year are set out on pages 26 to 43.

Income was £151,733 (2023: £181,270) and expenditure £229,336 (2023: £243,527) resulting in a deficit for the year of £77,603 (2023: £62,257).

Total funds decreased to £1,258,594 (2023: £1,336,197) of which £55,842 (2023: £87,369) was restricted.

RESERVES POLICY

The Charity’s Reserves Policy states that the Charity will seek to maintain the level of Free Reserves at between six and 12 months of budgeted expenditure. Free Reserves exclude Designated Reserves and Restricted Funds. Free Reserves protect the Charity from short-term fluctuations in income and expenditure, and give it time to take appropriate action in the face of fundamental changes in financial conditions. Free Reserves at the year-end were 13.1 months of budgeted expenditure and we acknowledge that this stands outside of our policy.

We celebrate the financial provision we have experienced during this year and are grateful for the significant gifts received previously which provided a financial buffer. There has been an income deficit each month this year and our Free Reserves have reduced (2023: 17 months). GSM remains focused on achieving a sustainable position going forward and we are committed to ensuring that our charitable resources

are used for our charitable purposes. We believe that we have again done so wisely and effectively this year.

RISKS REVIEW

The Trustees formally assessed business risks during the year. This involved assessing the types of risk facing the Charity, prioritising them in terms of the potential impact and likelihood of occurrence and identifying means of mitigating the risks. As part of this process the Trustees assessed the adequacy of the Charity’s internal controls and the costs of operating particular controls relative to the benefits obtained.

STATEMENT OF TRUSTEES’ RESPONSIBILITIES

The Trustees (who are also Directors of GSM for the purposes of Company Law) are responsible for preparing the Report of the Trustees and the Financial Statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards).

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Company Law requires the Trustees to prepare Financial Statements for each financial year. Under Company Law the Trustees must not approve the Financial Statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these Financial Statements, the Trustees are required to:

  1. select suitable accounting policies and then apply them consistently

  2. observe the methods and principles of the Charity Commission’s SORP

  3. make judgements and estimates that are reasonable and prudent

  4. state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the Financial Statements

  5. prepare the Financial Statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company’s transactions, disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the Financial Statements comply with the Companies Act 2006 and the provisions of the Charity’s Constitution. 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.

The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the Charity’s website. Legislation in the United Kingdom governing the preparation and dissemination of the Financial Statements may differ from legislation in other jurisdictions.

INDEPENDENT EXAMINERS

At the AGM held on 1st October 2023, a resolution was passed to appoint Stewardship of 1 Lamb’s Passage, London, EC1Y 8AB as Independent Examiners to GSM for the year 1st April 2023 to 31st March 2024.

This report was approved by the Trustees and signed on their behalf by:

Sally Dixon

Sally Dixon (Sep 25, 2024 11:10 GMT+1)

Sally Dixon Trustee

Date Sep 25, 2024

GSM TRUSTEES’ REPORT 2024 | 9

The Good Shepherd Mission has been serving its community over the past year, particularly helping address challenges arising from increasing homelessness, substance abuse, mental health problems, knife crime incidents (involving young people) and the issues facing asylum seekers. Various factors, including financial instability, the ongoing cost of living crisis, a lack of affordable housing and the aftermath of the COVID-19 pandemic have exacerbated these difficulties.

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STAFF CHANGES

TRUSTEE UPDATE

GSM has implemented key staff changes. Kaspars transitioned from the Caretaker role to focus on Adult Outreach; Marie was appointed as the new Caretaker; Ryan reduced his full-time role as Evangelism and Discipleship Pastor by a day a week to pursue additional ministry opportunities; and Sally took up an unpaid, part-time role as the Administrative Manager, looking after finances, the building, and other operational matters. Darren took a sabbatical from 1st May to 31st August, stepping back from preaching and leadership responsibilities for a period of rest, renewal, and time with family at home and abroad. The Senior Staff Team (Jenny, Ryan and Darren) have better consolidated their ministry roles for clarity and focus after a period of covering for one another during sabbatical absences. They participated in an urban mission networking event and training in Kansas City, USA, which has led to the implementation of several key initiatives that have energised a Gospel saturation strategy across the community.

The GSM Trustees have been proactive in praying and planning, focusing on strategies to reach the three key people groups identified previously (children and young people; asylum seekers; and those in recovery); financial positioning; and identifying key themes for the upcoming year: Hunger, Holiness, and Harvest. These themes have been integrated into the Mission’s various projects.

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THE BUILDING

Our building is a vital asset for the work we do and we are actively pursuing ways of reducing our carbon footprint. A successful application for capital funding from Tower Hamlets Council’s Carbon Reduction Community Grants programme will help towards the cost of replacing the existing old gas central heating system with air source heat pump technology and our old lights with more efficient LEDs, but this is contingent on us raising a further significant amount. Financially we have worked diligently to secure external funding to supplement our income and better support our various ministries, but in the current financial climate this is proving extremely challenging.

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SUNDAY SERVICES

Our Sunday morning gatherings bring the church fellowship together for prayer, sung worship and teaching, with an online option for those not able to join in person. We engage in different ways to pray corporately and individually with times of contemplative silence and opportunities to receive prayer ministry during worship.

The Welcome Team at GSM serves as the welcoming face of our church on Sunday mornings, engaging with newcomers, regular attendees, and passersby drawn in by our worship and location. Their role extends beyond greetings to providing hospitality, assistance, and invitations to community events, fostering a welcoming and inclusive environment for all who enter our doors.

PRAYER

Prayer at GSM is fundamental to our community’s spiritual vitality, encompassing a variety of ways that nourish our relationship with God. We gather for corporate prayer in different settings, including online sessions on Monday lunchtimes and Thursday evenings dedicated to local and church-wide concerns, as well as global needs; and early Thursday morning meetings with a focus on Scripture and fellowship over coffee.

We have transitioned our annual ‘Week of Prayer, Praise, and Fasting’ to monthly prayer days (on the eighth of each month), where devotionals prepare us for a day of personal and communal prayer led by different people.

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SMALL GROUPS

Beyond structured gatherings, prayer partners, small groups like BOBs (Band of Brothers), a Monday Homegroup, and prayerwalkers engage in ongoing intercession and support in various forms, all fostering a growing commitment to prayer and spiritual communion within our Church community.

Throughout the week several ‘Discovery Bible Study’ (DBS) groups have continued to provide the setting for people to explore faith, many for the first time, with new groups also becoming established. The ‘Empowered for Mission’ (E4M) training covered the topics of spiritual authority, blessing, hearing from God, inner healing prayer, physical healing prayer, Royal Priesthood, and strategic prayer. Some of the ‘Huddles’ (small groups) continue to meet as a result.

GROWING COMMUNITY

The year has been marked by joyful celebrations of baptisms and affirmations of faith; a monthly Sunday Lunch; and our usual Christmas service followed by a festive meal for 80 offering a family style setting for many who might otherwise lack the wherewithal to enjoy good food and the company of others. We have hosted occasional ‘Men’s Breakfasts’ and termly ‘Community Lunches’ that bring individuals together from across our weekday activities.

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The Mission building provides a meeting place for multiple Recovery Groups across the week (AA, NA, SAA, SLAA[1] ) and there is crossover with our DBS groups and Sunday services. We have an ongoing rich partnership with ‘Arch 76’, a local charity for vulnerable women which uses our large hall and other rooms for their own programme. Their activities include eating lunch together and Bible study, promoting well-being and physical exercise like Zumba classes and Pilates.

FOOD HUB

The ‘Food Hub’ has been a critical part of GSM’s response to food insecurity locally. The volunteer team assists in sorting, packing and distributing food bags to 40 guests each week, not only providing food assistance but also building relationships, engaging the community, and offering holistic support. The Food Hub has been successful in catering to diverse dietary needs and fostering cultural understanding. Other support systems include spiritual support and emotional comfort. After the Sunday service, we collect food donations from Whitechapel Sainsbury’s via ‘Neighbourly’, an app connecting businesses with local charitable causes, boosting our food supplies for those facing food insecurity.

1 Alcoholics Anonymous, Narcotics Anonymous, Sex Addicts Anonymous, Sex and Love Addicts Anonymous

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STREET OUTREACH

NGHT SHELTER

GSM conducts weekly ‘Street Outreach’, reaching out with the Good News of Jesus, both practically and spiritually, to men and women in the Bethnal Green area, particularly local addicts and asylum seekers. The ‘Genesis Football Club’, run in partnership with ‘Ambassadors Football’, focuses on working with hardto-reach men, helping them face their personal issues and encouraging them towards employment training. We provide varied one-to-one support to men contacted by ‘Through The Roof’, including meeting with them in the Whitechapel Mission drop-in centre, offering language assistance for appointments at embassies, and accompanying individuals to Betel UK, a charity aiding those affected by drug and alcohol abuse.

Our seasonal ‘GrowTH Night Shelter’ (January to April) offers emergency overnight accommodation to 15 homeless individuals every Wednesday. The programme includes an evening meal, Gospel talk, conversation and cooked breakfast the following morning. Nearly 90% of guests were moved into safe accommodation and many were signposted to other agencies. The Night Shelter is such a great way for many in the Church fellowship and those attending activities during the week to give of their time and talents in creative ways, coming together as a team showing love and friendship to the guests.

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COMMUNITY HUB

TREASURE SEEKERS

Twice weekly classes for ‘English for Speakers of Other Languages’ (ESOL) cater to a diverse range of attendees from several countries and can play a crucial role in fostering integration and offering support to those looking to improve their English skills. These classes, alongside the ‘Cinema Club’ and ‘Pool Club’, are important to provide a sense of belonging and a welcoming environment for individuals from all walks of life. The ‘Box Up Crime’ youth programme uses boxing lessons, mentoring, and creative activities to help prevent youth from affiliating with gangs or getting involved in criminal activities.

‘Treasure Seekers’ has been instrumental in helping individuals discover their spiritual vocational calling, participate in Christian mission and education, and support the development of ultramicro-sized businesses. Several success stories have emerged from this, demonstrating its effectiveness in enabling individuals to transform their lives. During Summer 2023 a ‘Treasure Seekers: Wales’ Team was formed of GSM youth and adults to support Lighthouse Community Church in Burry Port, Wales, in running their first ever Summer outreach project. Times of worship and Bible study were significant for many participants. The Team also experienced outward bound activities such as caving and rock climbing.

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CHILDREN & YOUTH

The Church’s children and youth work continues to thrive. ‘Splash’ (for our primary aged children) has had a small number attending regularly plus those who are occasional or visitors. Leaders plan for stories, games and crafts using the ‘Biggest Bible Story Curriculum’ which will cover Genesis to Revelation over two years. The children are enjoying building their friendships and this was aided by a Christmas party and trip to the pantomime, and a kids table at our monthly Church Sunday Lunch. Overlapping with the Food Hub and ESOL, Splash organised a ‘Family Event’ with activities, food and an interactive Bible story which further fostered relationships.

Summer school holidays can be a difficult time for families with challenging circumstances and those living in local hostels. We successfully ran another ‘Summer Holiday Club’ for 5-11 year olds on Weavers Fields, in partnership with other local churches. The children raced across the park to register each morning eager to take part in the various activities and watch mini-dramas on the lost-and-found theme as well as eating lunch together.

‘TOFSS’ (the Too Old For Sunday School group), catering to secondary-aged youth, meets during Sunday morning services, engaging with the sermon series and exploring the Bible together. With 15-20 attendees weekly, the diverse team of volunteers ensures each session is unique, recently enhanced by younger leaders developing their skills. TOFSS occasionally leads Sunday services, featuring a youth-led worship band highlighting their faith journeys and Summer camp experiences. Additionally,

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MAKING SENSE OF GOD
IN A WORLD OF SUFFERING
@
FREE TO QUESTION.
A free evening of pizza and discussion
for curious and sceptical 11–18’s
6.30–8.30pm 8 March 2024
17 Three Colts Lane E2 6JLgoodshepherdmission.org.uk/reboot
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COMMITMENT TO COMMUNITY

the group enjoys ‘Pizza and Pool’ on alternate Fridays, fostering community through shared meals, games, and Bible studies, complemented by outreach events and residential trips like Danehill Ventures and Christians in Sport, aiming to strengthen their Christian faith and leadership capabilities. ‘YABS’ (the Young Adults Bible Study) stemmed from a Wednesday youth prayer group, engaging Sixth Formers and young adults weekly in alternating sessions of prayer and apologetics study, fostering deep discussions and mutual challenge.

‘Reboot City’ in September was a day hosted by the Oxford Centre for Christian Apologetics (OCCA) providing engaging games and youth-accessible apologetic content in sessions covering: Who Am I? Does Science Disprove God? and Why Do I Feel Despair? On the back of this, GSM hosted ‘Reboot Local’ in March, drawing nearly seventy 11-to-18-year-olds from five churches across Tower Hamlets and Hackney for an evening featuring talks and Q&A sessions involving two speakers from OCCA that sparked lively discussions and led to several young people responding to the call of repentance and faith in Jesus Christ.

Through our Staff and a significant number of volunteers giving of their time, talent and treasures, GSM remains committed to fostering relationships and seeing lives transformed through the love of Jesus. We look forward to continuing this vital work in the years ahead using our building and being out in our community.

GSM TRUSTEES’ REPORT 2024 | 19

Snapshots

FREEDOM FROM ADDICTION

We provide space for Recovery Groups to meet to offer support to those dealing with

OUTREACH

addiction.

Through outreach

HOMELESSNESS

programmes like the Genesis Football Club, Street Outreach and Box Up Crime, GSM engages

GSM has been proactively addressing significant societal challenges arising from increased homelessness through initiatives such as the GrowTH Night Shelter.

the local community, providing positive outlets and role models.

MENTAL HEALTH SUPPORT

100 VOLUNTEER HOURS

GSM recognises the impact of mental health issues in the community and provides a warm and welcoming environment for individuals to connect with others and the support we can offer.

Estimated number of volunteer

SPIRITUAL ENRICHMENT

hours across the week (including Sunday).

Through initiatives like Discovery Bible Studies (DBS) groups, Empowered for Mission (E4M) and the Treasure Seekers initiative, we help individuals explore their spiritual calling and foster their faith.

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FUTURE PLANNING

NUTRITIONAL ASSISTANCE

The GSM Trustees and

Senior Staff have been proactive in planning and praying for the future; identifying key themes and participating in strategic COMMUNITY training and networking events. CELEBRATIONS

The Food Hub tackles food

insecurity within the community, providing food assistance and fostering cultural understanding.

STAFF CHANGES AND DEVELOPMENT

GSM hosts community

celebrations and events, such as baptisms, Sunday lunch, Christmas dinner and community lunches, fostering a sense of belonging and shared joy.

The organisation has implemented key staff changes to better serve the community and further its mission.

SUNDAY SERVICES

Gathering as a fellowship to hear the Word of God, pray and worship together.

LANGUAGE EDUCATION

GSM runs ESOL classes for English language learning as well as a means to support integration and enhance employment opportunities for those for whom English is not their first language.

GSM TRUSTEES’ REPORT 2024 | 21

Positive themes

Gratitude and growth: celebrating our successes..

Continued growth of GSM’s outreach and support programmes, helping vulnerable individuals and families in the community.

Strengthening community engagement through the Food Hub, addressing food insecurity and promoting cultural diversity.

Staff changes within GSM led to new opportunities and roles, enhancing the organisation’s effectiveness and outreach.

Successful operation of Genesis Football Club and GrowTH Night Shelter, providing support and opportunities for homeless individuals and those struggling with substance abuse.

The introduction of the Treasure Seekers initiative, supporting Christians in exploring their vocational callings and encouraging entrepreneurial efforts.

Positive impact of activities such as Cinema Club, Pool Club, and Community Lunches, fostering a sense of community.

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Hosting of the annual Christmas lunch event, providing a sense of community and support during the festive season.

Awarded capital funding from Tower Hamlets Council’s Carbon Reduction Community Grants programme, taking a significant step towards reducing GSM’s carbon footprint.

Continued delivery of English language learning classes, aiding integration and employment opportunities for non-native speakers.

Hosting of the Reboot Local event involving speakers from OCCA, providing an opportunity for young people to explore key questions of faith.

Growth and success of children and youth work through groups like Splash, TOFSS, Pizza and Pool, residentials and YABS.

Success of the Box Up Crime
programme in steering youth
Emphasis on the importance of away from negative influences
prayer at GSM, fostering deeper and potential involvement
spiritual connection. in crime.
Fruitful implementation of
training programmes such as		 Initiatives like the Summer
Holiday Club and the Family
Empowered for Mission (E4M), Event bringing children and their
enhancing mission training and parents/carers into contact with
spiritual development. GSM and creating crossover
between the different activities
at GSM.

GSM TRUSTEES’ REPORT 2024 | 23

Independent Examiner’s Report

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2024 on pages 26-43 following, which have been prepared on the basis of the accounting policies set out on pages 30-32.

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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.

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.

Sarah Crispin

Sarah Crispin (Sep 26, 2024 08:09 GMT+1)

Sarah Crispin ACA

Stewardship 1 Lamb’s Passage London EC1Y 8AB

Date Sep 26, 2024

GSM TRUSTEES’ REPORT 2024 | 25

Statement of Financial Activities

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing operations.

The financial statements may including rounding differences up to £1.

The statement of financial activities also complies with the requirements for an income and expenditure account required by the Companies Act 2006.

The notes on pages 30-40 form part of these accounts.

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Note Unrestricted Funds Restricted Funds Total Funds 2024 Total Funds 2023
£ £ £ £
INCOME AND ENDOWMENTS FROM:
Donations and legacies 3 106,150 12,225 118,375 164,803
Charitable activities 4 15,949 - 15,949 10,092
Investments 5 14,517 - 14,517 5,657
Other trading activities 6 2,893 - 2,893 718
Total income and endowments 139,508 12,225 151,733 181,270
EXPENDITURE ON:
Charitable activities 7 185,584 43,752 229,336 243,527
Total expenditure 185,584 43,752 229,336 243,527
Net income/(expenditure) (46,076) (31,527) (77,603) (62,257)
Transfers between funds 15 - - - -
Net movement in funds (46,076) (31,527) (77,603) (62,257)
Reconciliation of funds:
Total funds brought forward 1,248,828 87,369 1,336,197 1,398,454
Total funds carried forward 15 1,202,752 55,842 1,258,594 1,336,197
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GSM TRUSTEES’ REPORT 2024 | 27

Balance Sheet

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006 however, in accordance with Section 145 of the Charities Act 2011, the accounts have been examined by an independent examiner and their report has been included in these financial statements.

The directors (who are the charitable company’s trustees for the purposes of charity law) acknowledge their responsibilities

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 net income or expenditure 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.

The financial statements have been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

This report was approved by the Trustees and signed on their behalf by:

Sally Dixon

Sally Dixon (Sep 25, 2024 11:10 GMT+1)

Sally Dixon

Trustee

Date Sep 25, 2024

Company number: 03031141 Charity Number: 1047068

The notes on pages 30-40 form part of these accounts.

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Note Unrestricted Funds Restricted Funds Total Funds 2024 Total Funds 2023
£ £ £ £
FIXED ASSETS
Tangible assets
9		 673,189
673,189		 -
-		 673,189
673,189		 705,460
705,460
CURRENT ASSETS
Stock
10
Debtors
11
Cash at bank and in hand
12		 -
13,519
521,662
535,181		 146
-
55,696
55,842		 146
13,519
577,358
591,023		 357
11,201
628,781
640,338
CREDITORS:
Amounts falling due within one year
13
Net current assets / (liabilities)
TOTAL NET ASSETS		 (5,618)
529,562
1,202,752		 -
55,842
55,842		 (5,618)
585,405
1,258,594		 (9,601)
630,737
1,336,197
FUND BALANCES
15
Unrestricted Funds
General funds 347,827 - 347,827 381,915
Designated funds 854,925 - 854,925 866,913
1,202,752 - 1,202,752 1,248,828
Restricted Funds - 55,842 55,842 87,369
1,202,752 55,842 1,258,594 1,336,197

GSM TRUSTEES’ REPORT 2024 | 29

Notes to the Accounts

1 Statutory Information

The charity is a charitable company limited by guarantee and is incorporated in the United Kingdom. The company’s registered number and registered office address can be found on the Company Information page.

2 Accounting Policies

These financial statements are prepared on a going concern basis, under the historical cost convention.

These financial statements have been prepared in accordance with the “Statement of Recommended Practice: Accounting and Reporting by Charities” preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (“the Charities SORP”), with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (“FRS 102”), with the Companies Act 2006 and with the Charities Act 2011. The charity meets the definition of a public benefit entity as set out in FRS 102.

The principles adopted in the preparation of the financial statements are set out below.

a) Going concern

In particular the trustees have considered the charity’s forecasts and projections and the possible implications should projected income and / or expenditure vary unexpectedly. The trustees have concluded that there is a reasonable expectation that the charity has adequate resources to continue to operate for the foreseeable future. The charity therefore continues to adopt the going concern basis in preparing its financial statements.

b) Income

Income including investment income is recognised in the period in which the charity becomes entitled to receipt, the amount receivable can be measured with reasonable certainty, and receipt is probable. For the most part, income is generally recognised when it is received. Income is only deferred when the charity has to fulfil conditions before becoming entitled to it or where the donor has specified that the income is to be expended in a future period.

Income from donations includes:

The charity relies on volunteers to carry out many of its activities. However, in accordance with the SORP, the value of these services has not been included in these financial statements as they cannot be reliably measured.

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Income from charitable activities represents income receivable from goods, services and facilities supplied in furtherance of the charity’s charitable objects. It includes income from church events and rental received from letting the church building & flat.

Income from other trading activities represents income receivable from activities undertaken to generate funds for the charity. It includes income generated from solar panels.

Investment income represents income generated by the charity’s assets and includes income from bank interest.

c) Expenditure

Expenditure, including irrecoverable VAT, is recognised when it is incurred or, if earlier, when a legal or constructive obligation for a payment arises provided that it is probable that settlement will be required and the amount of the obligation can be measured reliably.

The charity makes grants to other institutions and individuals to further its charitable objectives. Grants payable are recognised as constructive obligations arise, which is generally when the charity expresses a commitment to the recipient that can be measured reliably and then only to the extent that any conditions associated with the grant are outside of the control of the charity.

The cost of raising funds is not significant and has not been separately disclosed.

Governance costs, which are included in expenditure on charitable activities but are identified separately in the notes to the accounts, includes costs associated with the independent examination of the financial statements, compliance with constitutional and statutory requirements and any other expenditure incurred on the strategic management of the charity.

d) Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity. Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. Restricted funds are donations which are to be used in accordance with specific restrictions imposed by donors; they include donations received from appeals for specific activities or projects.

e) Tangible fixed assets

Items purchased or donated for the charity’s own use are capitalised when the cost of purchased items, or the fair value of donated items, is more than £1,000 and the item is expected to benefit the charity over more than one accounting period. Depreciation is charged on a straight line basis so as to write down the value of each asset to its estimated residual value (if any) over its expected useful economic life. To achieve this objective the following rates of depreciation are charged:

Freehold land Is not depreciated (because it is not
consumed by use)
Freehold buildings Is not depreciated as the residual value is
expected to be higher than cost.
Building improvements Over 25 years
Equipment Over 3 to 7 years

The carrying values of tangible fixed assets are reviewed for impairment in periods when events or changes in circumstances indicate that the carrying value may not be recoverable.

f) Stocks

GSM TRUSTEES’ REPORT 2024 | 31

3 Donations and legacies

g) Pension scheme arrangements
The charity operates defined contribution pension schemes for its
employees. Obligations for contributions to these schemes are
recognised as an expense when the liability arises. The assets of these
schemes are held separately from those of the charity in independently
administered funds.
g) Pension scheme arrangements
 3 Donations and legacies
The charity operates defined contribution pension schemes for its 2024 2023
employees. Obligations for contributions to these schemes are £ £
recognised as an expense when the liability arises. The assets of these Donations of cash and similar 90,212 149,659
schemes are held separately from those of the charity in independently Donations in kind (Food Hub) 1,600 2,900
administered funds. Other grants receivable 12,550 3,500
Income tax recoverable 14,013 8,744
h) Taxation 118,375 164,803
The company is a registered charity; it has taken advantage of the various
reliefs from taxation available to charities and no tax is payable on the
charity’s income. 4 Income from charitable activities
2024 2023
i) Financial instruments £ £
The charity’s financial assets and financial liabilities all qualify as basic Mission flat rental income 12,000 8,000
financial instruments, as defined by FRS102. Except for loans, creditors Hall hire income 3,949 2,092
and debtors are measured at their expected settlement value (normally 15,949 10,092
the amount of cash that the charity expects to pay or receive). The
charity recognises liabilities for the principal of those loans that remains
outstanding at the year end (i.e. the liabilities exclude any interest 5 Investment income
chargeable on the loans in future years). 2024 2023
£ £
j) Exemption from preparing a cashflow statement Bank interest 14,517 5,657
The charity has taken advantage of an exemption conferred by the 14,517 5,657
Charities SORP and has not prepared a cash flow statement.
k) Critical accounting estimates and areas of judgement 6 Other income
The trustees do not consider that there are any material sources of 2024 2023
estimation or uncertainty at the balance sheet date that could result in a £ £
material adjustment to the carrying values of assets and liabilities in the Solar panel income 2,893 718
next reporting period. 2,893 718

32 | GSM TRUSTEES’ REPORT 2024

7 Charitable expenditure

7 Charitable expenditure
2024 2023
£ £
a Costs incurred directly on specific activities
Church activities 6,431 3,765
Adult outreach 2,915 3,040
Children and youth 990 1,014
Salaries and related costs 118,727 146,695
Food Hub & Community Hub costs 6,422 4,422
Treasure Seekers 5,062 -
Grants payable (note 7c) 13,623 111
Donations in kind expensed (Food Hub) 1,810 2,549
155,981 161,598

The fee payable to the independent examiner for preparing and examining the accounts was £2,820 (2023: £2,640). In addition the charity paid £210 (2023: £200) to Stewardship for consultancy services.

c Grants payable
Institutions Individuals 2024
£ £ £
Grants for UK and overseas mission
1,500		 - 1,500
Grants for the relief of poverty - 12,123 12,123
1,500 12,123 13,623

The comparatives for the previous year are as follows:

b Costs incurred on support & administration
Governance costs
Independent examiner’s fee 2,820 2,640
Other 456 410
3,276 3,050
Depreciation of tangible fixed assets 35,741 34,901
Utilities 6,200 7,358
Telephone 2,786 3,055
Repairs and maintenance 8,802 12,915
Mission flat expenses 632 6,083
Administration and insurance 3,932 3,265
Cleaning 4,233 4,583
Office Supplies 2,111 2,578
Bank interest and charges 159 159
IT costs and equipment 2,890 1,370
Professional fees 2,594 2,612
73,355 81,929
Total expenditure 229,336 243,527
Institutions Individuals 2023
£ £ £
Grants for UK and overseas mission
-		 - -
Grants for the relief of poverty - 111 111
- 111 111

Grants for more than £1,000 were made to the following organisations

2024 2023
£ £
Ambassadors football club 1,500 -
1,500 -

GSM TRUSTEES’ REPORT 2024 | 33

8 Analysis of staff costs, the cost of key management personnel and trustee remuneration and expenses

2024 2023
£ £
Gross wages and salaries 109,671 129,554
Social security 3,314 5,793
Pension costs 5,529 10,749
118,514 146,096

The average monthly number of employees during the year was 6 (2023: 6). Most of the charity’s activities are carried out by volunteers. No staff received salaries at a rate of more than £60,000 per annum.

The charity’s key management comprise the trustees and the key staff named on the Company Information page.

Total employment benefits payable to key management for the year were as follows:

Wages & salaries Employer pension contributions 2024
Trustees: £ £ £
D Prince 15,461 675 16,136
J Bollans 26,236 1,224 27,460
R Lynch 31,858 1,518 33,376
76,972

D Prince, J Bollans and R Lynch all served as church leaders and received the above payments for serving in that capacity, not for serving as trustees; these payments are permitted by the charity’s governing document.

The following amounts were payable in the previous year:

Wages & salaries Employer pension contributions 2023
Trustees: £ £ £
D Prince 16,906 1,349 18,256
J Bollans 26,276 2,099 28,375
R Lynch 32,259 2,577 34,836
81,467

34 | GSM TRUSTEES’ REPORT 2024

9 Tangible fixed assets
Freehold Building Fixtures, fittings Total
Property Improvements and equipment 2024
£ £ £ £
Cost or valuation
At 1 April 2023 500,000 866,455 57,294 1,423,749
Additions - - 3,470 3,470
Disposals - - - -
At 31 March 2024 500,000 866,455 60,764 1,427,219
Accumulated depreciation
At 1 April 2023 - 662,542 55,748 718,289
Charge for the year - 34,658 1,083 35,741
Eliminated on disposal - - - -
At 31 March 2024 - 697,200 56,830 754,030
Net book value
At 31 March 2024 500,000 169,255 3,934 673,189
At 31 March 2023 500,000 203,913 1,547 705,460
10 Stock 2024 2023
£ £
Donated goods
For distribution to beneficiaries 146 357
146 357
11 Debtors 2024 2023
£ £
Falling due within one year:
Tax recoverable 3,641 2,430
Other debtors 1,000 1,000
Prepayments and accrued income 8,878 7,771
13,519 11,201

GSM TRUSTEES’ REPORT 2024 | 35

12 Cash at Bank and in Hand
2024 2023
£ £
Cash at bank with immediate access 44,751 122,728
Notice deposits (with a term of three months or less) 532,607 506,053
577,358 628,781
13 Creditors: liabilities falling due within one year
2024 2023
£ £
Taxation and social security 581 2,877
Accruals 4,036 4,724
Other creditors 1,000 1,000
Deferred income - 1,000

5,618		 9,601

14 Pension commitments

During the year employer’s pension contributions totalling £5,529 (2023: £10,749) were payable to defined contribution personal pension schemes. Pension contributions of £581 were owing at the balance sheet date (2023: £914).

36 | GSM TRUSTEES’ REPORT 2024

15 Funds

During the year the movements in the charity’s funds were as follows:

Opening Incoming Outgoing Transfers Closing
balance resources resources in the year balance
2024 2024 2024 2024 2024
£ £ £ £ £
Designated Funds
Staff fund 32,000 - - - 32,000
Adult Residentials - 170 - - 170
Building fund 703,913 - (34,658) - 669,255
Building contingency fund 120,000 - - - 120,000
Equipment contingency fund 11,000 - - - 11,000
National and Global Gifts - - (7,500) 30,000 22,500
866,913 170 (42,158) 30,000 854,925
General Unrestricted Funds 381,915 139,338 (143,426) (30,000) 347,827
Total Unrestricted Funds 1,248,828 139,508 (185,584) - 1,202,752
Restricted Funds
Sustainable Heating System Upgrade - 4,900 - - 4,900
Community Hub - 650 (168) - 482
Food Hub 22,712 3,675 (14,472) - 11,915
Hardship Fund 29,939 - (4,343) - 25,597
Work with the Homeless - 2,000 - - 2,000
Salary Fund 19,718 - (19,718) - -
Treasure Seekers 15,000 1,000 (5,051) - 10,949
87,369 12,225 (43,752) - 55,842
Aggregate of funds 1,336,198 151,733 (229,336) - 1,258,594

The transfers referred to above were made for the following reasons:

a) A new designated fund National and Global Gifts was set up and £30,000 transferred from General Funds.

GSM TRUSTEES’ REPORT 2024 | 37

Analysis of net assets by fund
The assets and liabilities of the various funds were as follows: Unrestricted Funds
General funds Designated funds Restricted funds 2024
£ £ £ £
Tangible fixed assets 3,934 669,255 -
673,189
Stock - -
146
146
Debtors 13,519 -
-
13,519
Cash at bank and in hand 335,992 185,670 55,696
577,358
Creditors falling due within one year (5,618) -
-
(5,618)
347,826 854,925 55,842
1,258,594
In the previous year the movements in the charity’s funds were as follows:
Opening balance
Incoming resources		 Outgoing resources Transfers in the year Closing balance
2023
2023		 2023 2023 2023
£
£		 £ £ £
Designated Funds
Staff fund 32,000
-		 -
-
32,000
Building fund 738,572
-		 (34,658) -
703,913
Building contingency fund 120,000
-		 -
-
120,000
Equipment contingency fund 11,000
-		 -
-
11,000
901,572
-		 (34,658) -
866,913
General Unrestricted Funds 281,348
116,644		 (55,664) 39,587
381,915
Total Unrestricted Funds 1,182,919
116,644		 (90,322) 39,587
1,248,828
Restricted Funds
Youth Fund 40,075
-		 -
(40,075)		 -
Community Hub 310
-		 (798) 488
-
Food Hub 9,473
19,386		 (6,147) -
22,712
Hardship Fund -
30,000		 (61) -
29,939
Salary Fund 165,676
240		 (146,198) -
19,718
Treasure Seekers 15,000 -
-
15,000

215,535
64,626		 (153,204) (39,587) 87,369
Aggregate of funds 1,398,454
181,270		 (243,526) -
1,336,197

38 | GSM TRUSTEES’ REPORT 2024

Analysis of net assets by fund

In the previous year, the assets and liabilities of the various funds were as follows:

Unrestricted Funds
General funds
Designated funds		 Restricted funds 2023
£
£		 £ £
Tangible fixed assets 1,546
703,913		 - 705,460
Stock -
-
357		 357
Debtors 11,201
-
-		 11,201
Cash at bank and in hand 378,769
163,000		 87,012 628,781
Creditors falling due within one year (9,601)
-
-		 (9,601)
381,915
866,913		 87,369 1,336,197

Designated

The Staff Fund is maintained to ensure sufficient funds are available to cover statutory redundancy to staff in the event that is required. The Building Fund reflects the net book value of capital assets owned by the charity.

The Building Contingency Fund is maintained to provide funds in the event of unexpected building repairs.

The Equipment Contingency Fund is maintained to provide funds for the repair and purchase of equipment The National and Global Gifts Fund is to support those in ministry in UK and abroad.

Restricted

The Youth Fund is maintained to provide funds for the Charity’s youth work.

The Work with the Homeless Fund is to provide assistance with the church’s ministry to the homeless in the community.

The Heating System Upgrade Fund is to support the upgrade of a new heating system within the church building.

The Community Hub Fund is maintained to foster individual and community well-being by providing holistic activities that tackle loneliness, addiction, segregation, and inactive lifestyles as well as helping develop spoken English for asylum seekers and speakers of other languages. The Food Hub Fund is maintained to provide funds for those in food poverty in our local community

The Hardship Fund is used to provide support for those in need in line with the policy agreed by trustees. The Salary Fund is maintained to receive donations specific to funding employment related matters.

The Treasure Seekers Fund is to support individuals as they seek to develop their ministry gifts, to engage in Christian mission & education or to set up ultramicro sized businesses.

GSM TRUSTEES’ REPORT 2024 | 39

16 Transactions with related parties

During the year the charity received donations totalling £22,558 (2023: £45,012) from related parties (which includes trustees, any other members of key management and anyone closely connected to them).

No expenses (2023: £nil) were paid to, or for, the trustees.

Except as disclosed above and in note 8 ‘Analysis of staff costs’, there have been no other transactions with related parties during the year.

17 Members

Each member of the company commits to contribute if the charity is wound up an amount of £10.

40 | GSM TRUSTEES’ REPORT 2024

Detailed Statement of Financial Activities with Comparatives 2024

----- Start of picture text -----
Unrestricted funds
Note General 2024 Designated 2024 Restricted 2024 Total 2024
£ £ £ £
INCOME AND ENDOWMENTS FROM:
Donations and legacies 3 105,980 170 12,225 118,375
Charitable activities 4 15,949 - - 15,949
Investments 5 14,517 - - 14,517
Other trading activities 6 2,893 - - 2,893
Total income and endowments 139,338 170 12,225 151,733
EXPENDITURE ON:
Charitable activities: 7 143,426 42,158 43,752 229,336
Total Expenditure 143,426 42,158 43,752 229,336
Net income/(expenditure) (4,089) (41,988) (31,527) (77,603)
Transfers between funds 15 (30,000) 30,000 - -
Net movement in funds (34,088) (11,988) (31,527) (77,603)
Reconciliation of funds:
Total funds brought forward 381,915 866,913 87,369 1,336,197
Total funds carried forward 15 347,827 854,925 55,842 1,258,594
----- End of picture text -----

42 | GSM TRUSTEES’ REPORT 2024

2023

Unrestricted funds

----- Start of picture text -----
Note General 2023 Designated 2023 Restricted 2023 Total 2023
£ £ £ £
INCOME AND ENDOWMENTS FROM:
Donations and legacies 3 100,177 - 64,626 164,803
Charitable activities 4 10,092 - - 10,092
Investments 5 5,657 - - 5,657
Other trading activities 6 718 - - 718
Total income and endowments 116,644 - 64,626 181,270
EXPENDITURE ON:
Charitable activities: 7 55,664 34,658 153,205 243,527
Total Expenditure 55,664 34,658 153,205 243,527
Net income/(expenditure) 60,981 (34,658) (88,579) - (62,257)
Transfers between funds 15 39,587 - (39,587) -
Net movement in funds 100,568 (34,658) (128,166) (62,257)
Reconciliation of funds:
Total funds brought forward 281,347 901,571 215,535 1,398,454
Total funds carried forward 15 381,915 866,913 87,369 1,336,197
----- End of picture text -----

GSM TRUSTEES’ REPORT 2024 | 43

17 Three Colts Lane Bethnal Green London E2 6JL

GOODSHEPHERDMISSION.ORG.UK

44 | GSM TRUSTEES’ REPORT 2024