ST. STEPHEN'S HOUSE { GLOUCESTER ROAD ) LIMITED
COMPANY LIMITED BY GUARANTEE
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31, DECEMBER 2024
Company Registration Number- 3892644
Charity Registration Number - 1079138

ST. STEPHEN'S HOUSE { GLOUCESTER ROAD ) LIMITED
COMPANY LIMITED BY GUARANTEE
Company Registration Number - 3892644
Charity Registration Number- 1079138
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31, DECEMBER 2024
CONTENTS PAGE
PAGE
Company Information
Trustees and Directors Report
2to5
Auditor's Report
6t09
Statement of Financial Activities
10
Balance Sheet
li
Notes to the Financial Statements
12to20

ST. STEPHEN'S HOUSE ( GLOUCESTER ROAD ) LIMITED
COMPANY LIMITED BY GUARANTEE
Company Registration Number - 3892644
Charity Registration Number- 1079138
COMPANY INFORMATION
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31, DECEMBER 2024
REGISTERED OFFICE
St Stephen's Church
Gloucester Road
Southwell Gardens
London. SW7 4RL
TRUSTEES AND DIRECTORS Roger Martin Howell Preece
James Edward Day
Jack Ralph Hodsoll (appointed 5th November 2024)
Zarina Membery
James Fox (appointed Ilth January 2024)
SECRETARY
Roger Martin Howell Preece
GENEIL4L MANAGER
Mark Hodgin
BANKERS
CAF BANK LIMITED
25, Kings Hill Avenue
Kings Hill
West Mailing
KENT ME19 4JQ
Kojo & Co
Chartered Certified Accountants
118-120, London Road
Mitcbam
Surrey. CR4 3LB
ACCOLtNTANTS
AUDrtORS
Adomako Basoah & Co.
Chartercd Certified Accountants
Registered Auditors
45. Tindale Clos¢
South Croydon
SuTrey. CR2 ORT
page I

ST. STEP16EN'S HOUSE ( GLOUCESTER ROAD > LIMITED
Dirertors and Trustees, Annual Report for the year ended 31st December 2024
Company Registration Number- 3892644
Charity Registration Number - 1079138
The Trustees who are also the Directors of the charity present their annual report together with the
audited financial statements for the year ended 31, December 2024
BASIS OF ACCOUNTS PREPARATION
The financial statement have been prepared under the historic cost convention with items
recognised at cost or transaction value unless otherwise stated in the relevant rules to these
accounts. The financial statements have been prepared in accordance with the Statement of
Recommended Practice Accounting and Reporting by Charities. and the Financial Reporting
Standard applicable in the United Kingdom and Republic of Ireland l FRS 102) and the
Companies Act 2006, Second Edition, effective from 1, January 2019.
The financial statements have been prepared in accordance with the accounting
policies set out in Note 2 to these accounts, and in accordance with the governing
document of the Company
GOVERNING DOCUMENT AND OBJECTIVE
The governing document of the Charitable company is its Memorandum and Articles of A550ciation.
The purpose of the Charitable company is to support the work of St Stephen's church at Gloucester
Road, London SW7 4RL. The support includes provision of a church hall as well as wider financial
support. The Charitable company works closely with the vicar and parochial church council to
achieve its objectives. In striving to achieve it5 objectives, the Trustees always give careful
consideration to the Charity Commission's general guidance on public benefit.
The trustee5 confirm that the Charitable company is a public benefit entity as defined by FRS 102.
FUNCTIONS OF THE CHARITY
The main function of tha charitable company Is to provide a church hall and also make regular and
ad hoc grants at the discretion of the Board to St. Stephen's Church, Gloucester Road, London
SW7 4RL.
STRUCTURE, GOVERNANCE AND MANAGEMENT
The charitable company is managed and governed through its Board of Directors who are also Trustees
of the charitable company. The Board meets a minimum of Ihree times a year, including at least one
meeting to appoint its chairman and Directors. Much of the day to day administration and book-keeping
functions of the Charitable company are delegated to third party providers, as required. The Charitable
company itself has no employees. The Directors who are also Trustees receive no salary nor any other
fees or remuneration for their work. Expenses may be reimbursed however.
TRUSTEES
The Trustees of the Charity are elected at the Annual Genera5 Meeting, and each Trustee retires
after a term, usually no longer than three years after which they may stand for re-election if they
wish to continue to serve. The board attempts to have a broad base of experience and diversity
appropriate to a charity of its size and function., and it has an open and inclusive recruitment policy.
page 2

ST. STEPHEN'S HOUSE { GIOUCESTER ROAD ) UMITED
Directors and Trustees, Annual Report for the year ended 315t December 2024
( Continued I
Company Registration Number - 3892644
Charity Registration Number- 1079138
The current Trustees and those who served during the year are
Roger Martin Howell Preece
James Edward Day
Zarina Membery
James Fox (appointed Ilth January 20241
Jack Ralph Hodsoll (appointed 5th November 2024)
REVIEW OF ACTIVITIES AND ACHIEVEMENTS DURING THE YEAR
The Charitable company made grants during the year of £114,126 which represented a decrease of
£82,620 compared to the previous financial year's total of £196,746.
In previous years the Company has helped to facilitate a new programme of major refurbishment and
development at the church, including a new lighting and sound system. and during the current year
has provided further support here to allow completion of the recent phase of the project, working
closely with the Vicar and the Parochial Church Council.
The support Grant has allowed the church to expand its own charitable purposes and role
in the locality.
MAIN GOALS FOR THE COMING YEAR
St. Stephen's Church has now completed the first phase of programme of major development, which
overall is scheduled lo last a good number of years. The Company is committed to providing resources
and assistance here in addition to other activities already supported, subject to availability of funds.
The trustees are aware that there will be further work ( notably on some of the Church fabric ) that
will require further support over the coming years.
FINANCIAL REVIEW
The Charitable company made a net income of £90.837 12023 - deficit- £1,163 1 before net
investment revaluation gain of £45,16,712022 - £98,764), in the year under consideration
The balance on the unrestricted funds at 31 De￿mber 2024 was £5,795,743 { 2023- £5,659,739). This
includes the value of the Fixed Assets Investment of £5,529,926 (2023 - £5,484,759) thereby leaving a
net liquid balance of £265,817 (2023 - £174,980) for the general running of the Ch'arity.
The Board considers this is adequate to fulfil the charitable companrfs objectives.
INVESTMENT POLICY
It is the policy of the Charitable company to consider the suitability of all its investments in terms of
social, ethical, and environmental impact, and always strives to adhere to Standards of best practice in
these areas and selects its investment managers accordingly.
page 3

ST. STEPHEN'S HOUSE { GLOUCESTER ROAD ) LIMITED
Directors and Trustees, Annual Report for the year ended 31st Decembe
( Continued )
Company Registration Number - 3892644
Charity Registration Number- 1079138
Reserva Pollcy
The Trustees endeavour to maintain sufficient Reserves to ensure that the Charitable company is
on a 'going concern basis at all times.
The Charity's General Fund (Unrestricted fund) balance at the end of the year was £5,795,493
{ 2023 £5,659,739). The value of the Charity's fixed assets I both tangible f ixed assets and
fixed assets investments) i ncl uded in the general fund figure of £5,795,493 is £5,529,926, thereby
leaving a net liquid balance of £265,567 for the general running of the com pany.
Our reserves policy is to ensure available sufficient resources to provide a sustainable platform
for future charitable grants over the longer term, as well as maintain its physical assets
in good condition over the longer term,
The Board is aware that application for grants may vary from year to year, and
Is mindful of the need to provide a secure and consistent approach over the longer term. This
may entail running either a def icit or surplus in any one particular flnancial perlod, as necessary.
Goln8 Concern Includln8 the Impact of Covld-19
We consider that we have adequate f inancial reserves to continue to deliver our plans, and that
we have rea50nable expectation that we will have adequate resources to contlnue in operational
existence for the foreseeable future and that there are no material uncertainties that call into
doubt the charity's ablSity to continue.
The effect of COVID-19 pandemic has been limited due to the fact that much of the administration
of the Charity, including banking, can be performed remotely. The Charity's income and revenue
has not been adversely affected by the pandemlc during the last twelve months.
We have concluded that the golng concern ba515 remains an appropriate basis of preparation for
these financial statements.
Rlsk Assessment
The charity has a risk reglster, where major potentlal risk factors are identif led, quantifled and
assessed. Mitigation factors are also consldered. The Board regularly reviews this register
to ensure it is kept up to date and relevant, Action is taken appropriately as a result of any
perceived weakness All bank transfers require a minimum of two authorisations, and no cash
is typically ever physically held.
Statement of Trustee5' Responslbllltles.
The Trustees are responsible for preparing the Trustee5' report and accounts in accordance with
applicable law and United Kingdom Accounting Standard5 (United Kingdom Generally Accepted
Accounting Practice).
The law applicable to charities In En8land and Wales requires the Trustees to prepare
accounts for each Financial year which gives a true and fair view of the state of affairs of the Charity
and of the incoming resources and application of resource5 of the Charity for that year.
In preparing these accounts, the Trustees are required to:
select suitable accounting policies and then apply them consistently.
observe the methods and principles in the Charities SORP.
page 4

ST. STEPHEN'S HOUSE ( GIOUCESTER ROAD ) LIMITED
Dirertors and Trustees, Annual Report for the year ended 31st December 2024
{ Continued )
Company Registration Number- 3892644
Charity Registration Number - 1079138
make judgements and estimates that are reasonable and prudent.
state whether applicable accounting standards have been followed, subject to any
material departures disclosed and explained in the accounts- and
Prepare the accounts on a going concern basis unless It is inappropriate to presume that the
charity will co ntinue in operation.
The Trustees are responsible for keeping SLJfficient accounting records that disclose, with
reasonable accuracy at any time, the financial position of the Charity and that enables them to
ensure that the accounts comply with the Charities Act of 2011, the appropriate Charity Accounts
and Reports Regulations and the provisions of the governing document. 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.
So far as the individual trustees, and all the trustees as a body are aware, there is no relevant
information that they ought to have disc105ed to the Charity Auditors that they have not done
and they further believe that all steps have been taken that ought to have been taken to make
the Auditors aware of any such relevant information.
Post Balance Sheet Events
The Trustees and Directors are not aware of any post balance sheet events which could materially
affect these financial statements.
This report has been prepared in accordance with the provisions applicable to companies
entitled to the small companies exemptions
Approval
This report was approved by the Charity Trustees and Directors on
and signed on their behalf by
2025
JAMES EDWR
AY.
Director and Trustee
page 5

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ST. STEPHEN'S HOIJSE
{ GLOUCESTER ROAD ) LITrAITED
REPORT ON THE FINANCIAL STATEMENTS
UNQUALIFIED OPINION
We have audited the financial statements of St. Stephen's House l Gloucester Road l Limited
I the charitable company I I for the year ended 31, December 2024, which comprise of the
Statement of Financial Activities, the Balance Sheet, and notes to the financial statements,
including a surnmary of significant accounting policies.
The financial reporting fra mework that has been applied in their preparation is applica ble Law
and United Kingdom Accounting Standards, including Financial Reporting standard 102, "The
Financial Reporting Standord applicL7ble in the United Kingdom and the Republic of Ireland"
l United Kingdom Generally Accepted Accounting Practice)
In our opinion, except for the matter described in the basis for our opinion section, the financial
statements .
give a true and fair view of the state of the charitable company's affairs as at
31, December 2024 and of its incoming resources and application of resources,
including its income and expenditure, for the year then ended,.
have been properly prepared in accordance with United Kingdom Generally
Accepted Accounting Practice,. and
have been prepared in accordance with the requirements of the Companies
Act 2006.
BASIS FOR OPINION
EMPHASIS OF MATTER
The Investment property of the charitable company was professionally revalued at £4,600,000 by
AMJ Wimbleton IFRICS l of Aspect Surveyors Limited on 26, May 2020 on a fair value basis.
However, due to the unknown future impact that Covid-19 might have on the real estate market,
the valuation was reported on the basis of "material valuation uncertainty in line with RICS
guidance.
We conducted our audit in accordance with International Standards on Auditing l UK I {ISAs IUKI
and applicable law. Our responsibilities under those standards are further described in the
Auditor's responsibilities for the audit of the financial statements section of our report. We are
independent of the Charitable company in accordance INith the ethical requirements that are
relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard,
and we have fulfilled our other ethical respon51bilities in accordance with these requirements. We
believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis
for our unqualified opinion.
CONCLUSIONS RELATING TO GOING CONCERN
In auditing the financial statements, we have concluded that the trustees, use of the going concern
basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating
to events or conditions that, individually or collectively, may cast significant doubt on the entity's
ability to continue as a going concern for the period of at least twelve months from when the
financial statements are authori5ed for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are
described in the relevant sections of this report.
page 6

INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF ST. STEPHEN'S HOUSE
I GLOUCESTER ROAD I LIMITED
( continued )
OTHER INFORMATION
The other information comprises the information included in the annual report other than the
financial statements and our auditor's report thereon.
The trustees are responsible for the other information contained within the annual report.
Our opinion on the financial statements does not cover the other information and, except to the
extent otherwise explicitly stated in our report, we do not express any form of assurance
conclusion thereon. Our responsibility is to read the other information a nd, in doing so.
consider whether the other information is materially inconsistent with the financial statements
or our knowledge obtained in the course of the audit orotherwise appears to be materiallv
misstated. If we identify such material inconsistencies or apparent material m isstatements, we
are required to determine whether this gives rise to a material misstatement in the financial
statements themselves. If, based on the work we have performed, we conclude that there is a
material misstatement of this other information, we a re required to report that fact.
We have nothing to report in this regard.
OPINIONS ON OTHER MArrERS PRESCRIBED BY THE COMPANIES ACT 2006
In our opinion, based on the work undertaken in the course of the audit
> the information given in the trustees, report, which includes the directors, report prepared
for company law purposes, for the financial year for which the financial statements are prepared
is consistent with the financial statements; and
> the directors, report included within the trustees, report has been prepared in accordance
with applicable legal requirements.
MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION
In the light of the knowledge and understanding of the charitable company and its environment
obtained in the course of the audit, we have not identified material misstatements in the Trustees,
Report.
We have nothing to report in respect of the followlng matters in relation to which the Companies
Act 2006 requires us to report to you if, in our opinion
> adequate accounting record5 have not been kept, or returns adequate for our audit have not
been received from branches not visited by u5 - or
> the financial statements are not in agreement with the accounting records and returns,. or
.> certain disclosures of trustees, remuneration specified by law are not made; or
> We have not received all the information and explanations we required for our audit,. or
> the trustees were not entitled to take advantage of the small companies, exemptions in
preparing the trustees, report and from the requirement to prepare a strategic report.
RESPONSIBILITIES OF THE TRUSTEES FOR THE FINANCIAL STATEMENTS.
As explained more fully in the Trustees, Responsibilities Statement set out on pages 4 and 5, the
Trustee51 who are a150 the directors of the charitable company for the purposes of Company Law I
are responsible for the preparation of the financial Statements and for being sat15fied
that they give a true and fair view, and for such internal control as the trustees determine is
necessary to enable the preparation of the financial statements that are free from material
misstatement. whether due to fraud or error.
pa8e 7

INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF ST. STEPHEN'S HOUSE
( C)LOUCE5TER ROAD I LIMITED
( continued )
In preparing the financial statements, the trustees are responsible for assessing the Charitable
company'5 ability to continue as a going concern, disclosing, as applicable, matters related to going
concern and using the going co ncern basis of accounting unless the trustees eithe r intend to
liquidate the Charita ble co m pa ny or to cease operations, or have no rea listic alternative but to
do so.
AUDITOR'S RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS.
Our objectives are to obta i n reasonable assurance about whether the f i na ncia I statements as a
whole are free from material misstatement, whether due to fraud or error, and to issue an
auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but
is not a guarantee that an audit conducted in accordance with ISAS l UK I will always detect a
material misstatement when it exists. Misstatement can arise from fraud or error and are
considered material if, individually or in aggregate, they could reasona bly be expected to
influence the econo mic decisions of users taken on the basis of these financial statements.
The extent to which our procedures are capable of detecting irregularities, including fraud is
detailed below:
Discussions were held with, and enquiries made of, management and those charged with
governance with a view to identifying those law5 and regulations that could be eKpected to have
a material impact on the financial Statements. During the engagement team briefing, the
outcomes of these discussions and enquiries were shared with the team, as well as consideration
as to where and how fraud may occur in the entity.
The following laws a nd regulations were identified as being of Significant to the charitable
company:
> Those laws and regulations considered to have a direct effect on the financial
statements including UK financial reporting standards, Company Law, Tax and pensions
legislation.
> It is considered that there are no laws and regulations for which non-compliance may
be fundamental to the operating aspects of the business.
Audit procedures undertaken in response to the potential risks relating to irregularities I which
include fraud and non-compliance with laws and regulations) comprised of - enquiries of
management and those charged with governance as to whether the charitable company complies
wlth such laws and regulations; enquiries wlth the same concerning any actual or potential
litigation or claims; inspection of relevant legal correspondence. review of board meeting
minutes; testing the appropriateness of entries in the nominal ledger, including journal entries;
reviewing transactions around the end of the reporting period, and performance of analytical
procedures to identify unexpected movements in account balances which may be indicative
of fraud.
No instances of material non-compliance were identified, However the likelihood of detecting
irregularities, including fraud, is limited by the inherent difficulty in detectin8 irregularities, the
effectiveness of the entity's controls, and the nature, timing and extent of the audit procedures
performed. Irregularities that result from fraud might be inherently more difficult to detect than
irregularities that result from error. A5 explained above, there is an unavoidable risk that material
mi55tatement5 may not be detected, even though the audit has been planned and performed in
accordance with ISAS {UK I.
A further description of our responsibilities is located on the Financial Reporting Council's
webslte at :https'. //www.frc.org.uk/auditorresponsibilities.
This description forms part of our Auditor's report.
Page 8

INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF 5T. STEPHEN'S HOUSE
I GLOUCESTER ROAD ) LIMITED
( conlinued )
USE OF OUR REPORT
This report 15 made solely to the Charitable company's members, as a body, in accordance with
Chapter 3 of Part 16 of the Companies Act 2006.
Our audit work has been undertaken so that we might state to the Charitable company's members
those matter5 we are required to state to them in an Auditor's report and for no other purpose.
To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other
than the charitable company and the charitable company's member5 as a body, for our audit work,
for this report, or for the opinions we have formed.
2025
Charles Adom
0 8asoah
Senior Statutory Auditor
45, Tindale Close
Sanderstead
South Croydon
Surrey. CR2 ORT
For and on behalf of Adomako Basoah & Co.
Statutory Auditors
Page 9

ST. STEPHEN'S HOUSE { GLOUCESTER ROAD ) LIMITED
STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING INCOME AND EXPENDITURE
ACCOUNT FOR THE YEAR ENDEO 31, DECEMBER 2024
Company Registration number- 3892644
Note
2024
Unrestricted
2023
INCOME
Unrestricted
Investment income
249,920
245,339
Other Income
TOTAL INCOME
325 761
331538
EXPENDITURE
Expenditure on Raisin8 Funds
Expenditure on Charitable Activities
104,454
130 720
235 174
116,955
215 746
332 701
4.2.3
TOTAL RESOURCES USED
90,587
(1,163)
NET INCOME FOR THE YEAR Before investment
Revaluation Gain
Net Investment Revaluation l Deficit1/ Gain
135,754
97,601
NET INCOME
RECONCILIATION OF FUNDS:
BALANCE BROUGHT FORWARD
5 659 739
5 562 138
BALANCE CARRIED FORWARD
5 795 493
5 659 739
There are no further recognised gains other than the surplus for the above financial year.
The notes on pages 12 to 20 the financial statements form an integral part of these financial statements.
page 10

ST. STEPHEN'S HOUSE { GLOUCESTER ROAD ) LIMITED
BALANCE SHEET AS AT 31, DECEMBER 2024
Note
FIXED ASSETS
2024
unrestrictad
2023
unrestricted
Investments
5,529,926
5,484.759
Total Fixed Assets
CURRENT ASSETS
Debtors
Bank and cash balances
5,529,926
5,484,759
20,382
279 719
34,633
161 Q86
300,101
CREDITORS: Amounts falllng
due wlthin one year
195,719
10
TOTAL NET CURRENT ASSETS
265 567
174 980
TOTAL ASSETS LESS CURRENT
LIABILITIES AND TOTAL ASSETS
579549
5 659 739
FUNDS
Unrestricted Funds AND Total Fi
Unrestricted Funds
5,795,493
5,659,739
11
TOTAL FUNDS
5 795 493
5 659 739
The notes on pages 12 to 20 the financial statements form an integral part of these financial statements.
Approved by the Directors and Trustees on .
and signed on their behalf by
2025
JAMES ÉDWARD DAY
Director/ Trustee
ROGER MART
NHO
PREECE
Director / Trustee
Company Registration number- 3892644
The Company 15 a private company limited by guarantee, registered in England and Wales.
page 11

ST. STEPHEN'S HOUSE I GLOUCESTER ROAD I LIMITEO
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
1. BASIS OF ACCOUNTING
1.1 The financial statement have been prepared under the historic cost convention with
items recognised at cost or transaction va lue unless otherwise stated in the relevant
notes to these accounts. The financial statements have been prepared in accordance with
the Statement of Recommended Practice .' Accounting and Reporting by Charities, and the
Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland
(FRS 102) and the Companies Act 2006, Second Edition, effective from 1, January 2019.
The financial statements have been prepared in accordance with the accounting
policies Set out in Note 2 to these accounts, and in accordance with the governing
document ofthe Company
1.2 The Company constitutes a public benefit entity as defined by FRS 102
1.3 No changes to accounting estimates have occurred in the reporting period.
2. ACCOUNTING POLICIES.
INCOMING RESOURCES
2.1 Recognltlon of Income
Income are recognised a nd included in the Statement of Fina ncial Activities I SOFA I
when:
> The Company becomes entitled to the resource5,'
It 15 more likely than not that the trustees will rece ive the resource , and
> The monetary value can be measured with sufficient reliability.
2.1.1 Rent
Rent from the Company's investment property is recognised in the SOFA
on the basis of the rent receivable as per the rental a8reement,
2.1.2 Service Charge Income
Service Charge income is recognised in the SOFA when the service charge
accounts which form the basis of the service charge income have been certified
and approved by the Directorsnrustees.
2.2 Offsetting
There has been no offsetting of assets and liabilities, or Inco me and expenses,
unless required or permitted by the FRS 102 SORP or FRS 102
2.3 Grants and Donations
Grants and Donations are only included in the SOFA when the general income
recognition criteria as stated above are met.
2.4 Volunteer Help
The value of any voluntary help received is not included in the accounts.
2.5 Settlement of Insurance Clalms
Insurance claims are only included in the SOFA when the general income
recognition criteria are met, and are included as an item of other income in
the SOFA.
2.6 Income from Interest, Royalties and Dividends
This is included in the accounts when receipt is probable and the amount
receivable can be measured reliably.
2.7 Investment gains and105ses
This includes any realised or unrealised gains or losses on the sale of
investments a nd any gain or Ioss resulting from reva luing investments to
market value at the end of the financial yea r.
page 12

ST. STEPHEN'S HOUSE { GLOUCESTER ROAD ) UMITED
NOTES TO THE FINANCIALSTATEMENTS FOR THE YEAR ENDED 31. DECEMBER 2024
APPLICATION OF RESOURCES.
I continued I
2.8 Liability Recognition
Liabilities are recognised where it is more likely than not that there is a legal
or constructive obligation committing the Company to pay out resources and
the amount ofthe obligation can be measured with reasonable certaintv.
2.9 Grants Payable.
Grants and donations are accounted for when paid.
FIXED ASSETS.
2.10 Long Leasehold land and buildings
Long Leasehold land and buildings are accounted for at original Cost or subsequent
valuation basis.
Tangible Flxed Assets
These are office equipments Used by the company and accounted for at original cost
or Subsequent valuation basis.
Fixed Asset Investment
This is the property Sltuated at 48-50, Emperors Gate, South Kensington, London SW7
4HJ managed by the company with the view to generate Income. It also includes
the long term investment held with the CCLA Investment Management Limited.
The Long Leasehold land and building mentioned above is shown in these accounts at
valuation.
2,11 CAPITALISATION
All land a nd building costs and other fixed assets in excess of £1,000 in the year
concerned are capitali5ed. Otherwise such cost5 are written off in the year of the
expenditure.
2.12 DEPRECIATION.
Depreciable Long Leasehold building values a re depreciated at a rate calculated to write
off the cost, less residual value over their expected useful lives.
No Depreciation is provided on Long Leasehold land.
No Depreciation 15 provided on Investment properties
OTHER ACCOUNTING POLICIES
2.13 Funds
Unrestricted funds represent funds which are expendable at the discretion of the
company in the furtherance of its objects and which have not been designated for other
purposes.
Restricted funds can only be used for specified purposes. The purpose of any restricted
fund is noted in the financial statements.
2.14 Going Concern
At the time of approving the financial statements, the trustees have a reasonable
expectation that the Company ha5 adequate resources to continue in operational
existence for the foreseeable future. Thus the trustees have therefore continued to
adopt the going concern basis in preparing the Company's financial statements.
page 13

ST. STEPHEN'S HOUSE I GLOUCESTER ROAD I LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31, DECEMBER 2024
I continued I
2.15 Taxation
In the opinion of the trustees, the Company is exempt from the United Kingdom
Taxation on its incoming resources for the yea r.
2.16 Accounting estimates and ludgements
In the application of the Company's accounting policies, the trustees are required to
make judgefflents, estimates, and assumptions about carrying amount of a55ets and
liabilities that are not readily apparent from other resources. The estimates and
associated assum ptions are based on historic experience and othe r factors that a re
considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing ba515. Revisions
to accounting esti mates a re 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 affect5 both current and future periods.
The most significant estimates and assumptions which affect the carrying amount of
assets and liabilities in these accounts relate to
Useful Economic Lives and Revaluation of Fixed Asset Investments.
2.17 Expertditure Apportloned Between Activities.
Governance and Other Costs are apportioned between Activities { Charitable and
Expenditure to raise funds l on the basls of each activity's direct costs in the year in
relation to each other. This policy excludes any exceptional and non-recurring items.
page 14

ST. STEPHEN'S HOUSE { GLOUCESTER ROAD ) UMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR EhlDED 31. DECEMBER 2024
I continued I
3 INCOMING RESOURCES
Unrestricted
Funds
Unrestricted
Funds
3.1 Investment income
Rental Income
Bank Interest Received
245,000
4,920
245,000
339
249,920
245,339
3.2 Other Income
Service Charges
75,841
86,199
4 RESOURCES EXPENDED
4.1 EXPENDITURE ON RAISING FUNDS
DIRECT SPENDING
Properties Repairs and Maintenance
Property Insurance
Property Light and Heat
Property Cleaning
Accountancy charges
39,653
17,499
24,693
8,350
1,000
91,195
51,513
18,177
28,035
7,930
1,000
106,655
4.1.2
GOVERANCE COSTS
Management Fees
Accountancy Charge5
Audit Faes
Bank Charges
Ground Rent
Sundries
9,771
1,732
1,555
33
111
57
13,259
7,734
1,301
1,230
26
10,300
4.1.3 SUMMARY OF EXPENDITURE ON RAISING FUNDS
Direct Spending
91,195
106,655
Support for cha rita ble activities
13,259
10,300
104,454
116,955
4.2 EXPENDITURE ON CHARITABLE ACTIVITIES
4.2.1 DIRECT SPENDING
Grants and Donations
114 126
196 746
page 15

ST. STEPHEN'S HOUSE ( GLOUCESTER ROAD ) UMITED
NOTES TOTHE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31, DECEMBER 2024
{ continued I
Unrestricted
Funds
Unrestricted
Funds
4.2.2 SUPPORT FOR CHARITABLE
ACTIVITIES
4.2.2.2 Governance costs
Management Fees
Audit Fees
Accountancy Fees
Bank Charges
Olhers
12,229
2,168
1,945
41
72
14,266
2,270
2,399
48
17
4.2.3 SUMMARY OF EXPENDITURE ON CHARITABLE ACTIVITIES
Direct Spending
114,126
196,746
Support for cha ritable activities
Governance
130 581
5 REVALUATION GAINS
5.1 Material Investment Holdings
6. GRANTS
6,1 ANALYSIS OF GRANTS PAID I Included in the cost of Charitable Activities I
ANALYSIS
grants to
institutions
grants to
individuals
Total
Support
General Support
114 126
114 126
6.2 GRANTS MADE TO INSTITUTIONS
NAME OF INSTITUTION
PURPOSE
St. Stephen's Church
In support of the church's mission and charitable
activities.
page 16

ST. STEPHEN'S HOUSE ( GLOUCESTER ROAD ) LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31, DECEMBER 2024
{ continued I
7. FIXED ASSETS
7.1 FIXED ASSETS INVESTMENTS
COST OR VALUATION
Land and
Buildings
Material
Investment
Holdings
TOTAL
Balance as al 1 January 2024
4,600,000
884,759
5.484,759
Revaluation Surplus
Balance as at 31, December 2024
4 600 000
929 926
5 529 926
The Long Leasehold property is Sltuated at 48-50. Emperor's Gate, South Kensington, London
SW7 4HJ. The Company holds a 999 years lease { from 31, December 1999) from the Number 1 Trust
Fund on the above property. The property is stated at valuation in these financial statements.
The Investment property was professionally revalued at £4,600,000 by AMJ Wimbleton { FRICS I
of Aspect Surveyors Limited on 26, May 2020 on a fair value basis. However, due to the unknown
future impact that Covid-19 might have on the real estate market, the valuation was reported on
the basis of materia I valuation uncertainty in line with RICS guidance.
7.2 INCOME FROM MATERIAL INVESTMENT HOLDINGS
Market
value
at 31112/2023
Income for
the year.
Investment Property
4,600,000
Material Investment Holdings
884 759
TOTAL
5 484 759
The company holds "CBF Church of England Investment Fund - Accumulatlon Shares"
The trustees have advised that When the company invested in the CCLA, it had the option to
purchase either "accumulation units or dividend bearing units. The company chose the
accumulation units. The company does not therefore receive dividends. It has never received
dividends.
7.3 MATERIAL INVESTMENT HOLDINGS
Investments in CBF Church of England Investment Fund
245,000
245 000
Investment held { units I
Market Value per share at 31, December 2024.
2024
unrestricted
14 816.65
6 276.22
ence
2023
unrestricted
8. DEBTORS
Prepayments
Service Charge Debtor
20,382
13,479
page 17

ST. STEPHEN'S HOUSE I GLOUCESTER ROAD ) LIMITEO
NOTES TO THE FINANCIAL STATEMENT5 FOR THE YEAR ENDED 31. DECEMBER 2024
I continued )
9. BANK AND CASH BALANCES
2023
unrestricted
2023
unrestricted
CBF Deposlt
CAF Current Account
104,639
175 080
loo,000
279 719
Cash and cash equivalent includes 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.
10. CREDITORS: Amounts falling due withln one year
2024
Unrestricted
161086
2023
Unrestricted
VAT Liability
Service Charge Creditor
Sundry Creditors and Accruals
14,284
10,259
7,822
11 FUNDS
UNRESTRICTED FUNDS
2024
2023
Balance Brought Forward
5,659,739
Incoming Resources
325,761
Resources Expended
-235,174
Net Gain/ (Deficit) on Investments Revaluation
5,562,138
331,538
-332,701
Balance Carried Forward
5 795 493
Unrestricted funds represent funds which are expendable at the discretion of the
Company in the furtherance of its objects and which have not been designated for
other purposes.
12 OETAILS OF CERTAIN ITEMS OF EXPENDITURE
2024
5 659 739
2023
Audit Fees
13 PAID EMPLOYEES
There were no employees during the year (2023- Nil )
14. POST BALANCE SHEET EVENTS
The Trustees and Director5 are not aware of any post balance sheet event which could
materially affect these financial statements.
page 18

ST. STEPHEN'S HOUSE ( GLOUCESTER ROAD ) LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31, DECE
I continued I
IS. RELATED PARTY TRANSACTIONS
The trustees confirm that there were no related party transactions during the year.
16. RESERVE POLICY
The Trustees endeavour to maintain sufficient Reserves to ensure that the Charity is on a
going concern" basis at all times.
Our reserves policy is to ensure sufficlent resources to provide a sustainable platform
for future charltable grants over the longer term, as well as maintain its physical assets
in good condition over the longer term.
The Board 15 aware that application for grants may vary from year to year, and
is mindful of the need to provide a secure and consistent approach over the longer term. This
may entail running either a deficit or surplus in any one particular financial period, as necessary.
17 VOLUNTEER CONTRIBUTION
The charity is reliant on volunteers who contribute their skills, time, money and their
resources in the furtherance of the work of the company. Principally, this contribution may
be made by serving on committees of the Company that deal with finance, policy, grants,
developments etc, or otherwise, and as appropriate, all as agreed by the Board.
The contribution of volunteers is not included within the income of the Company.
The trustees are grateful to all of them for their help and commitment.
18. MEMBERS LIABILITIES.
Every member of the charity undertakes to contribute such amount as may be required I not
exceeding £10.00 I to the charity's assets if it should be wound up while he or she is a member or
within one year after he or she ceases to be a member, for payment of the charity's debts and
liabilities contracted before he or she ceases to be a member, and of the costs, charges and
expenses of windlng up, and for the adjustment of the rights of the contributorie5 among
themselves.
19. FINANCIAL INSTRUMENTS
All the Charity'5 financial instruments qualify as basic financial instruments in accordance with
section 11 of FRS 102 and are recognised on the following ba51S
i) Cash and cash equivalent represent bank balances and deposits held in Sterling
ill Investments are measured at ma rket value at the balance Sheet date
iiil Debtor5 are measured at the transaction price less any provision for doubtful debts
iv) Creditors are measu red at the transaction price.
page 19

ST. STEPHEN'S HOUSE I GLOUCESTER ROAD ) LIMITED
NOTESTO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31. DECEMBER 2024
I continued I
20. APPORTIONMENT OF SUPPORT COSTS AMONGST ACTIVITIES.
Charitable Expenditure
Activities o raise funds
Charitable
Activities
Expenditure
to raise funds
GOVERNANCE
Audit
1,945
1,555
2,270
1,230
Accountancy
2,168
1,732
2,399
1,301
Management Fees
12,229
9,771
14,266
7,734
Bank charges
41
33
48
26
Ground Rent
139
iii
Others
72
57
17
Governance and Other Costs are apportioned between Activities I Charitable and
Expenditure to raise funds l on the basis of each activity's direct cost5 in the year in
relation to each other. This policy excludes any exceptional and non-recurring items.
page 20