ST. STEPHEN'S HOUSE ( GLOUCESTER ROAD ) LIMITED
COMPANY LIMITED BY GUARANTEE
FINANCIALSTATEMENTS FOR THE YEAR ENDED 31, DECEMBER 2025
Company Registratlon Number- 3892644
Charlty Re8iStration Number- 1079138

ST. STEPHEN'S HOUSE I GLOUCESTER ROAD ) UMITED
COMPANY LIMrrED BY GUARANTEE
Company Re8i5tration Number- 3892644
Charity Reglstratlon Number- 1079138
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31, DECEMBER 2025
CONTENTS PAGE
Company Information
Trustees ond Directors Report
Audltor's Report
Statement of Financlal Actlvltles
io
Balance Sheet
li
Notes to the Financial Statements
12- 21

ST. STEPHEN'S HOUSE { GLOUCESTER ROAD ) LIMITED
COMPANY LIMITED BY GUARANTEE
Company Registration Number- 3892644
Charity Registration Nurnber - 1079138
COMPANY INFORMATION
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31, DECEMBER 2025
REGISTERED OFFICE
St Stephen's Vestry
St. Stephen's Church
Gloucester Road
Southwell Gardens
London. SW7 4RL
TRUSTEES AND DIRECTORS
Roger Martln Howell Preece
James Edward Dav
Erlc Fripp l appolnted 21101120251
Zarina Membery (Retlred 17, June 2025)
Jack Ralph Hodsoll
James Alexander Fox
SECRETARY
Roger Martin Howell Preece
Mark Hod8in
CAF BANK LIMITED
GENERAL MANAGER
BANKERS
25, Kings Hill Avenue
Kin8s Hill
West Mailing
KENT ME19 4JQ
Kojo & Co Llmited
118-120, London Road
Mitcham
ACCOUNTANTS
Surrey. CR4 3LB
Adomako Basoah & Co.
AUDITORS
Chartered Certified Accountants
Reglstered Auditors
45. Tindale Close
Sanderstead
South Croydon
Surrey. CR2 ORT
page I

ST. STEPHEN'S HOUSE ( GLOUCESTER ROAD ) LIMITED
Dirertors and Trustees. Annual Report for the year ended 31st December 2025
Company Registration Number- 3892644
Charity Registration Number- 1079138
The Trustees who are also the Directors of the charity present their annual report together wlth
the audited financial statements for the year ended 31, December 2025
BASIS OF ACCOUNTS PREPARATION
The financial statement have been prepared under the historic cost convention with Items
recognised at C05t 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 fieportin8
Standard applicable in the Unlted Kingdom and Republic of Ireland l FRS 1021 and the
Companies Act 2006. Second Edition, effectlve from I, January 2019.
The flnonclal statements have been prepared In accordonce with the accountlng
puIILi¥s sel uul iii NuLe 2 lu LIIEse dLLuuiIIs, ¢iiid iii accordaiice wilh tlie goveriiiiig
document of the Company
GOVERNING DOCUMENT AND OBJECTIVE
The governing document of the Charitable company is its Memorandum and Artlcles of A550ciation.
The purpose of the Charltable 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 vlcar and parochlal church council to
achleve Its objectives. In striving to achieve its objective5, the Trustees always glve careful
consideration to the Charity Commlsslon's general guidance on public beneflt.
The trustees confirm that the Charitable company Is a publlc beneflt entity as defined by FRS 102.
FUNCTION5 OF THE CHARITY
The main function of the charitable company is to provide a church hall and a150 make regular and
ad hoc grants at the discretion of the Board to St. Stephen's Church, Gloucester Road, London
5W7 4RL.
STRucfuRE, GOVERNANCE AND MANAGEMENT
The charitable company is managed and governed through Its Board of Dlrectors who are also
Trustee5 of the charitable company. The Board meets a minimum of three time5 a year, includlng
at least one meetin8 to appoint it5 chairman and Directors. Much of the day to day admini5tratlon
and book-keeping functions of the Charitable company are delegated to third party providers, as
required. The Charitable company itself ha5 no employees. The Directors who are a150 Trustee5
receive no salary nor any other fee5 or remuneration for their work. Expenses may be reimbursed
however.
TRu￿EE$
The Trustees of the Charity are elected at the Annual General Meeting, and earh Trustee retires
after a term, usually no longer than three years after which they may stand for re-election if they
W15h to continue to serve. The board attempts to have a broad base of experience and diversitv
appropriate to a charity of its size and functlon- and it has an open and inclusive recruitment policy.
page 2

ST. STEPHEN'S HOUSE { GLOUCESTER ROAD I LIMITED
Dirertors and Trustees, Annual Report for the year ended 31st December 2025
I Contlnued )
Company Re8lStration 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 (retired 17th June 20251
James Alexander Fox
Jack Ralph Hodsoll
Eric William Burtin Fripp lappoinled 21st January 20251
REVIEW OF AcfiviTIES ANO ACHIEVEMENTS DURING THE YEAR
The Charitable company made grant5 during the year of £117,000 12024 - £114,126)
to St, Stephen's church. The total 8rants of £117,00012024 support grants - £105,OW I
were all Support 8rants wherea5 the £114,126 grant5 in 2024 included £9,126 of other
grants.
In previous years the Company has helped to facilltate a new programme of major refurblshment
and development at the church, IncludinB a new lighting and sound system, and durin8 the current
year has provided further SUPPOrt, working closely wlth the Vlcar and Parochial Church Council.
The support Grant has allowed the church to expand Its own charitable purposes and role
in the locallty.
The Charity's property situated at 48-50, Emperor's Gate was profe551onally revalued durin8 the
year at £4,160,000. The revaluation of the property shows a decreased in value of £440,000
compared to the previous year.
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 to last a number of years. The Company Is committed to providing
resources and asslstance here In addltlon to other activitie5 already Supported, subject to
availability of funds. The Trustees are oware that there will be further work I notably on some of
the church fabric I that will require further support over the comin8 years.
FINANCIAL REVIEW
The Charitable company made a net income of £77,367 12024- £90,587) before net
Investment revaluation deficlt of £10,85512024- gain £45.1671, prior-year adJustment of
£400,000 I deficit l and revaluatlon loss of E40,00012024- £0 l in the year under conslderation.
The prior-year adjustment, and the revaluation loss arose from the revaluation of the property
situated at 48-50 Emperor's Gate
The balance on the unrestricted funds at 31 December 2025 was £5,422,00512024- £5,795,493).
This includes the value of the Fixed Assets of £5,063,87112024- £5,529,926) thereby leaving o
net liquid balance of £358,13412024- £265,817) for the general running of the Charitv.
The Board considers this is adequate to fulfil the charitable company's objectives.
page 3

ST. STEPHEN'S HOUSE ( GLOUCESTER ROAD I LIMITED
Dlrertors and Trustee5' Annual Report for the year ended 31st December 2025
( Continued )
Company Registration Number- 3892644
Charity Reglstratlon Number- 1079138
INVESTMENT POLICY
It Is the policy of the Charitable company to consider the suitability of all its investments in terms
of soclal, ethical, and environmental impact, and always 5trive5 to adhere to standards of best
practice in these areas and selects its investment managers accordingly.
Resem Policy
The Trustees endeavour to molntaln sufnclent Reserves to ensure that the Charitable companyls
on a "Boing concern" basis at all times.
The Charity'5 General Fund (Unrestricted fund) balance at the end of the year was £5,422,005
12024- £5,795,493). The value of the Charity's fixed assets I both tangible fixed assets and
flxed assets investments) included in the general fund figure of £5,422,005 Is £5,063.871 thereby
leaving a net Ilquld balance of £358,134 for the general running of the companv.
Our re5eryes policy is to ensure available sufficient resources to provide a su5talnable platform
for future charitable grants over the longer term, as well as maintaln Its physical assets
in good condltion 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 aftd consistent approach over the longer term. Th15
may entail runnin8 either a deficit or surplu5 in any one particular financial period, as necessary.
Golns Concern
We consider that we have adequate financial reserves to continue to deliver our plans, and that
we have reasonable expectation that we will have adequate resources to continue in operatlonal
existence for the foreseeable future and that there are no material uncertaintie5 that call into
doubt the charity's abllity to continue.
We have concluded that the golng concern basls remalns an approprlate basis for the preparatlon
of these financial slatements.
Rlsk Assessment
The charlty has a risk register, where major potential rlsk factors are Identified, quantlfSed and
a55essed. Mitigation factors are a150 considered. The Board regularly reviews this register
to ensure it is kept up to date and relevant. Actlon Is taken appropriately as a result of any
perceived weakness . All bank transfers requlre a minimum of two authorisations, and no cash
is typically ever physically held.
Stitement of TNstees' Responsibilities.
The Trustee5 are responsible for preparlng the Trustee5' report and account5 in accordance with
applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted
Accountin8 Practice).
The law applicable to charitie5 in England and Wales requires the Trustees to prepare
accounts for each Financial year which give5 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 preparin8 these account5, the Tru5tee5 are required to-
select sultable accountinB policies and then apply them con515tentlv.
observe the methods and principles in the Charities SORP.
page 4

ST. STEPHEN'S HOUSE I GLOUCESTER ROAD I LIMITED
Directors and Trustees, Annual Report for the year ended 31st December 2025
( Continued }
Company Registration Number - 3892644
Charity Re8lStration Number - 1079138
make judgements and estimates that are reasonable and prudent.
state whether appllcable accounting standard5 have been followed. subject to any
materlal departures di5c105ed and explained in the accounls. and
Prepare the accounts on a golng concern basis unless it is inappropriate to presume that the
charity wlll continue in operation.
The Trustees are responsible for keeplng sufficlent accountinB 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 Charltles Act of 2011, the approprlate Charity Accounts
and Reports Regulatlolls and the provi51on5 of the governing document. They are also responsible
for safeguardin8 the assets of the Charity and hence for taking reasonable 5tep5 for the
prevention and detection of fraud and other irre8ularities.
So far as the indlvidual trustees, and all the trustees as a body are aware, there is no relevant
information that they ou8ht to have disclosed to the Charlty Audltors that they have not done
and they further believe that o115teps have been taken that OU8ht to have been taken to make
the Auditor5 aware of any such relevant information.
Post Balance Sheet Events
The Tru5tee5 and Dlrectors are not aware of any p05t balance sheet events whlch could materlally
affect these financial statements.
Thls report has been prepared in accordance wlth the provisions applicable to companies
entitled to the Small companies exemption5
Approval
This report was approved by the Charlty Trustees and Directors on
and signed on their behalf by
- 2026
IAMES EDW
AY.
Director and Trustee
page 5

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ST. STEPHEN'S HOUSE
{ GLOUCESTER ROAD I LIMITED
UNQUALIFIED OPINION
We have audited the flnanclal statements of St. Stephen'5 House l Gloucester Road l Limited
I the "charitable company" I I for the year ended 31, December 2025, which comprise of the
Statement of Financial Activities, the Balance Sheet, and note5 to the flnancial statements,
Includin8 a summary of significant accounting policies.
The flnanclal reporting framework that has been applied in their preparation is applicable Law
and Unlted Kingdom Accounting Standards, including Financial Reporting standard 102, "The
Finonciol Reporting Standard applicoble in the United Kingdom ond the Republic of Irelond"
l United Kingdom Generally Accepted Accounting Practice)
In our opinion the financial Statements
Ive a true and fair view of the state of the charitable company's affalr5 as at
31, Oecernber 2025 and of its incoming resource5 and application of resources.
Includlng Its Income and expendlture, for the year then ended;
have been properly prepared in accordance wlth Unlted Kln8dom Generally
Accepted Accountin8 Practice,. and
have been prepared in accordance wlth the requlrements of the Companies Act 2006,
BASIS FOR OPINION
We conducted our audit In accordance with International Standards on Auditing l UK I IISA5 IUKI
and applicable law. Our responsibilities under those standards are further described In the
Auditor's responsibilities for the audit of the financial statement5 section of our report. We are
independent of the Charitable company in accordance with the ethical requirements that are
relevant to our audit of the financlal statements in the UK, includin8 the FRC'S Ethlcal Standard.
and we have fulfilled our other ethical respon5ibilitie5 in accordance wlth these requirements.
We believe that the audit evidence we have obtained 15 sufficient and appropriate to provide
basis for our unqualified opinion.
CONCLUSIONS RELATING TO GOING CONCERN
In audltlng the financial statements, we have concluded that the trustees, use of the 8oln8 concern
basls of accountlng In the preparatlon of the financial statements is appropriate.
8ased on the work we have performed, we have not identifled any material uncertalntles relatln8
to events or condStlons that, individually or collectively. may cast slgnlficant doubt on the entity's
ability to continue a5 a going concern for a perlod of at least twelve months from when the
financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are
described in the relevant sections of this report.
OTHER INFORMAnoN
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 rbot express any form of assurance
page 6

INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF ST. STEPHEN'S HOUSE
I GLOUCESTER ROAD ) LIMITED
{ continued )
conclu51on thereon. Our responsibility is to read the other Information and, in doing so.
consider whether the other informatlon Is materially inconsistent with the financial statements
or our knowledge obtained In the tour5e of the audit or otherwise appears to be materiallv
misstated. If we Identify such material inconsistencies or apparent material misstatements. 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
material misstatement of this other information, we are required io report that fact.
We have nothin8 to ￿pOrt in this regard.
OPINIONS ON OTHER MArrERS PRESCRIBED BY THE COMPANIES Acr 2006
In our opinion . based on the work undertaken in the course of the audlt '.
> the information 8lven in the trustees, report, whlch includes the dlrectors, report prepared
for company law purpose5, for the fln3nclal year for which the financlal statements are prepared
15 consistent with the financlal statements: and
> the dlrectors, 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 Ilght of the knowledge and understanding of the charitable company and its environment
obtalned 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 followin8 matters in relation to which the Companles
Act 2006 requires u5 to report to you if, in our oplnion .
> adequate accountin8 records have not been kept, or returns adequate for our audlt have not
been received from branches not visited by us , or
> the financial statements are not in agreement with the accountlng records and returns,. or
.> certain disc105ure5 of trustees, remuneratlon specified by law are not made,. or
> We have not recelved all the Informatlon and explanations we requlred for our audlt: or
> the trustees were not entltled to take advantage of the small companies, exemptlons In
preparlng the trustees, report and from the requlrement 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 pa8es 4 and 5, the
Trustees I who are also 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 5atlsfied
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.
In preparing the financial statements. the trustees are responsible for assessing the Charitable
company's èbility to continue as a going concern, disclosing, as applicable, matters related to going
concern and using the going concem basis of accountlfl8 unless the tru5tee5 either intend to
liquidate the Charitable company or to cease operation5, or hove no realistic alternative but to
do 50.
page 7

INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF ST. STEPHEN'S HOUSE
{ GLOUCESTER ROAD ) LIMITED
I continu8d I
AUDITOR'S RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS.
Our objectives are to obtain reasonable assurance about whether the financial 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 15 a high level of assurance, but
is not a guarantee that an audit conducted in accordance with 1SAs I UK I will alway5 detect a
material misstatement when it exists. Mlsstatements can arise from fraud or error and are
Considered material if, individually or in aggregate, they could reasonably be expected to
influence the economic declsions of users taken on the basis of these financlal statements.
The extent to which our procedures are capable of detectlng irre8ularities, including fraud is
detailed below..
Discussions were held with, and enquiries made of, management and those charged with
governance with o view to identifying those laws and regulations that could be expected to have
material impact on the financial statements. During the engagement team briefin8, the
outcomes of these dlscusslons and enqulrles were shared with the te41rri, 445 well d5 LU115iJeidliuii
as to where and how fraud may occur In the entity.
The followin8 laws and regulations were Identified as being of significant to the charitable
company..
> Those law5 and re8ulations consldered to have a direct effect on the financial
statements including UK financlal reporting standards, Company Law, Tax and pensions
leglslation,
> It is considered that the￿ are no laws and regulatlons for whlch non-compliance may
be fundamental to the operatlng aspects of the buslness.
Audit procedures undertaken In response to the potentlal risks relating to Irregularities I whlch
Include fraud and non-compliance with laws and regulations) comprlsed of .' enquiries of
management and those charged wlth governance as to whether the charitable company complies
with such law5 and regulations; enquiries with the same concerning any actual or potential
litigation or claim5,. Sn5pectlon of relevant legal correspondence,. review of board meeting
mlnutes; testing the appropriateness of entries in the nominal ledger, Including journal entrle5'
revlewing tran5action5 around the end of the reporting perlod, ond performance of analyrical
procedures to Identify unexpected movements In account balances which may be indicative
of fraud.
No instances of material non-compliance were Identlfied. However the likellhood of detecting
irre8ularitle5, includin8 fraud, is limited by the inherent difficulty in detectlng IrreBularities, the
effectiveness of the entity'5 coritrols, and the nature, timing and extent of the audit procedures
performed. Irre8ularities that result from fraud might be inherently more difficult to detect than
irregvlarities that result from error. As explained above. there 15 an unavoidable risk that material
mlsstatements may not be detected, even thou8h 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
website at -https'. //www.frc.org.uk/auditorre5pon5ibilitie5.
This description forms part of our Auditor's report.
Page 8

INDEPENDENT AUDITORS, REPORTTO THE MEMBERS OF ST. STEPHEN'S HOUSE
( GLOUCESTER ROAD ) LIMITED
( Continued )
USE OF OUR REPORT
This report is made solely to the Charitable company's members, as a body, in accordance with
Chapter 3 of Part 16 ofthe CompaniesAct 2006.
Our audit work has been undertaken so that we might State to the Charitable company's members
those matters 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 ihe charitable company and the charitable company's members as a body. for our audit work,
for this repor
or for the opinlons we have formed.
It>
. 2026
Charles Ado
ko Ba50ah
Senlor Statutory Audltor
45, Tindale Close
Sanderstead
South Croydon
Surrey. CR2 ORT
For and on behalfof Adomako Basoah & Co.
Statutory Audltors
Pa8e 9

ST. STEPHEN'S HOUSE ( GLOUCESTER ROAD ) LIMITED
STATEMENT OF FINANCIAL AcfiviTIES INCORPORATING INCOME AND EXPENDITLIRE
ACCOLINT FOR THE YEAR ENDED 31. DECEMBER 2025
Company Re8lStration number- 3892644
Note
2025
Unrestricted Unrestricted
2024
INCOME
Investment income
253,032
249,920
Other Income
TOTAL INCOME
321018
325 761
EXPENDITURF
Expenditure on Raisin8 Fund5
Expenditure on Charitable Activltles
Other
91,851
136,600
104,454
130.720
4.2.3
TOTAL RESOURCES USED
243 651
235 174
NET INCOME FOR THE YEAR Before Revaluatlons,
77,367
90,587
Losses on revaluation of fixed Assets for the
charitV'5 own use
-60,000
Galn on Investment a55ets
20,000
Net investment Revaluation {lossl I galn
NET INCOME
RECONCILIATION OF FUNDS:
26,512
135.754
BALANCE BROUGHT FORWARD
5 795 493
659 739
BALANCE CARRIED FORWARD
5 822 005
5 795 493
All activities are derive(I from continulng operations
Theie are no further recognised gains other than the income for the above financial years,
The notes to the financial statements form an integral part of these financial statements.
page 10

ST. STEPHEN'S HOUSE ( GLOUCESTER ROAD } LIMITED
BALANCE SHEET ASAT31, DECEMBER 2025
Note
FIXED ASSETS
2,025
unrestrlcted
2,024
unrestricted
Tanglble Fixed Assets
1,104,800
Fixed Assets Investments
3,959,D71
5,529,926
Total Flxed Asset$
5,063.871
5,529,926
CURRENT ASSETS
Debtors
Bank and cash balances
12,144
385 956
20,382
279 719
398,100
300,101
CREDITORS.. Amounts fallln8
due wlthln one year
io
TOTAL NET CURRENT ASSETS
358 134
26
TOTAL ASSET5 LESS CURRENT
LIABILITIES AND TOTAL ASSETS
FUNDS
Unrestrlcted Funds
li
5 422 005
5 795 493
TOTAL FUNDS
5 422 005
The notes to the financial statements form an Integral part of these financial statements.
Approved by the Directors and Trustees on
and signed on
eir behalf by
. 2026
JAMES EDWARD
Director / Trustee
ROGER MA
N HOWELL PREECE
Director / Trustee
Company ReEistratlon number- 3892644
The Company is a private company limited by Buarantee, registered in England and Wale5.
page 11

ST. STEPHEN'S HOUSE { GLOUCESTER ROAD ) LIMITED
NOTESTO THE FINANCIALSTATEMENTS FOR THE YEAR ENDED 31, DECEMBER 2025
I. BASIS OF ACCOUNTING
1.1 The financial statement have been prepared under the historlc cost convention with
item5 recognised at cost or transaction value 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
IFRS 1021 and the Companies Act 2006, Second Edition, effective from I, January 2019.
The financial statements have been prepared In accordance wlth the accounting
ptslicies set out in Note 2 to these accounts, and In occordance 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 RE50URCE5
2.1 Recognltlon of Income
Income are reco8nised and included in the Statement of Financlal Activlties I SOFA I
wh¢n'.
> The Company becomes entitled to the resources;
It is more likely than not that the trustees will receive the resource ' and
> The monetary value can be measured with sufficlent reliability.
2.1.1 Rent
Rent from the Company's investment property Is reco8nlsed In the SOFA
on the basis of the rent receivable a5 per the rental agreements.
2.1.Z Servlce Char8e Income
Service Charge income is recognlsed In the SOFA when the service charge
account which form5 the basis of the service charge Income has been certified
and approved by the Oirectorsnrustees.
2.2 Offsett5ni
There has been no offsetting of assets and Ilabllities, or Income and expenses.
unless required or permltted by the FRS 102 SORP or FRS 102
2.3 Grants and Donatlons
Grants and Donations are only Included in the SOFA when the general Income
recognitlon 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 05 an item of other Income in
the SOFA.
2.6 Inrome from Interest, Royaltles and Dividends
This 15 included in the accounts when receipt is probable and the amount
receivable can be measured reliably.
2.7 Investment gains and losses
Thi5 include5 any realised or unrealised gains or105ses on the Sale of
investments and any gain or1055 resultinE from revaluing investment5 to
market value at the end of the financial year.
page 12

5T. STEPHEhl'S HOUSE I GLOUCESTER ROAD ) LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31, DECEMBER 2025
I continued I
APPLICATION OF RESOURCES.
2.8 Liability Recognltlon
Liabilities are reco8nised 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 of the obli8ation can be measured wlth rea50nable certainty-
2.9 Grants Payable.
Grant5 and donations are accounted for when paid.
FIXED ASSETS.
2.10 Lon8 Leasehold land and bulldlngs
Long Leasehold land and buildings are accounted for at orlglnal Cost or subsequent
valuation basls.
Tangible Fixed A55et5
These are the Company's flat and the Church Hall, ond are accounted ft>r at orlglnal c05t
or subsequent valuatlon ba515.
Fixed Asset Investment
This is the property situated at 48-50, Emperors Gate, South Kensington. London SW7
4HJ mana8ed by the company with the view to 8enerate Income. It also includes
the long term investment held with the CCLA Investment Management Llmlted.
The Lon8 Leasehold land and building mentioned above is shown in these accounts at
ori8lnal c05t or subsequent valuation.
2.11 CAPITALISATION
All land and building costs and other fixed assets In excess of £1,000 In the year
concerned are capltallsed. Otherwise such costs are written off In the year of the
expenditure.
2.12 DEPRECIATION.
Depreclable Lon8 Leasehold bulldlng values are depreclated at a rate calculated to write
off the cost, less residual value over their expected useful lives.
No Depreciation Is provlded on Long Leasehold land.
No Depreciation is provided on Investment properties
Tangible Leasehold buildin85 are depreciated at 2.5% on Straight Line basis.
OTHER ACCOUNTING POLICIES
2.13 Funds
Unrestricted fund5 represent funds which are expendable at the discretion of the
company in the furtherance of its objects and which have not been deslgnated 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 has adequate resources to continue in operational
existence for the foreseeable future. Thu5 the trustees have therefore continued to
adopt the going concern basis in preparing the Company'5 financial statements.
page 13

ST. STEPHEN'S HOUSE I GLOUCESTER ROAD I LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENOED 31, DECEMBER 2025
I continued I
2.15 Taxatlon
In the opinion of the trustees, the Company is exempt from the United Kingdom
Taxation on its incomirbg re50Lbrtes for the year.
2.16 Accountln8 estlmates and judgements
In the application of the Company's accounting pollcles, rhe trustees are requlred to
make jud8ement5, estimates, and a55umption5 about carrying amount of assets and
liabilities that are not readily apparent from other resources. The estimates and
a550ciated a55umption5 are based on historic experience and other factors that are
considered to be relevarst. Artual re5uIt5 may differ from these estimate5.
The estimates and underlyin8 assumptions are reviewed on an on80in8 basis. Revision5
to accounting estimates are reco8nised in the period in which the estimate is revised
where the revision affects only that perlod, or in the period of the revision and future
periods where the revision affects both current and future periods.
The most 518nlflcanr e5tlmote5 and as5umptlons whlch affect the carryln8 amount of
assets and liabilities in these accounts relate to
Useful Economlc Llve and Revaluatlon of the property sltuated at 48-50 Emperor's Gate,
South Kensington, London SW7 4HJ.
2.17 Expenditure Apportioned Between Artivities.
Governance and Other Costs are apportioned between Activltles I Charltable and
Expenditure to raise funds l on the basis of each activity's direct cost5 in the year in
lation to each other. This pollcy excludes any exceptlonal and non-recurring Items.
page 14

5T. STEPHEN'S HOUSE I GLOUCESTER ROAD ) LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31, DECEMBER 2025
I continued I
3 INCOMING RESOURCES
2025
Unrestricted
Funds
2024
Unrestricted
Funds
3.1 Investment Income
Rental Income
Bank Interest Recelved
245,000
8,032
245,0
4,920
253,032
249,920
3.2 Other Income
Service Char8es
67,986
75,841
4 RESOURCES EXPENDED
4.1 EXPENDITURE ON RAISING FUNDS
4.1.1 DIRECT SPENDING
Properties Repairs and Maintenance
Property Insurance
Property Light and Heat
Property Cleanin8
Other Property Expenses
Accountancy charges
32,749
15.619
18,484
,425
2.995
1,200
79,472
39,653
17,499
24,693
8,350
1,000
91,195
4.1.2 GOVERNANCE COSTS
Mana8ement Fees
Accountancy Charges
Audit Fees
Bank Charges
Sundries
8,845
1,628
1,548
38
320
12,379
9,771
1,732
1,555
33
168
13,259
4.1.3 SUMMARY OF EXPENDITURE ON RAISING FUNDS
Direct 5pendin8
79,472
91,195
Support for charitable actlvltles
12,379
13,259
91,851
104,454
4.2 EXPENDITURE ON CHARITABLE AcfiviTIES
2.1 DIRECT SPENDING
Repairs and Maintenance
Grant5 and Donations
1,188
117 000
118 188
114 126
page 15

ST. STEPHEN'S HOUSE { GLOUCESTER ROAD I LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31, DECEMBER 2Q25
I continued I
2025
Unrestricted
Funds
2024
Unrestrirted
Funds
4.2.2 SUPPORT FOR CHARITA8LE
ACTIVITIES
4.2.2. Governance c05tS
Management Fees
Audit Fees
Accountancy Fees
Bank Charges
Others
13.155
2,422
2,302
57
476
12,229
2,168
1,945
41
72
4.2.3 SUMMARY OF EXPENDITURE ON CHARITA8LE ACTIVITIES
Dlrect Spending
118,188
114,126
Support for charitable activities
Governance
45
130 581
4.3 OTHERS
Depreclatlon
5 REVALUATION IDEFICITI /GAINS
5.1 Materlèl Investment Holdings
6. GRANTS
6.1 ANALYSIS OF GRANT5 PAID I Included In the cost of Charitable Actlvities I
ANALYSIS
8rants to
institutions
grants to
Individua15
Total
General Support
117 000
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 I GLOUCESTER ROAD ) UMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31, OECEMBER 2025
I continued I
7. FIXED ASSETS
7.1 TANGIBLE FIXED ASSETS
COST OR VALUATION
Land and
Buildings
Balance as al 1 January 2025
Transfer from Fixed Asset5 Investment
I,ioo,000
Revaluatlon Gain
Balance as at 31, December 2025
1120 000
DEPRECIATION
Balance as at 01, January 2025
Charge for the year
Balance carried forward
N B V 31, DECEMBER 2025
N B V 31, DECEM8ER 2024
7.2 INCOME FROM MATERIAL INVESTMENT HOLDINGS
Market
value
at 3111212025
3,040,TrJO
Income for
the year.
Investment Propertv
Material Investment Holdin8S
TOTAL
245,000
3 959 071
245 000
The Company holds"CBF Church of England Investment Fund- Accumulat5on Shares..
The trustees have advised that When the company invested in the CCLA, it had the option to
purchase either "accumulation units or dividend bearinE unlts. The company chose the
accumulation unlts. The company does not therefore receive dividends. It has never
received dividends.
DEPRECIATION
Depreciation is provided at a rate to write off the Tan8ible Fixed Assets buildin8s over
their expected useful economic lives less their ￿sId￿e values
Rate
2.50%
Method
Straight Line method
page 17

ST. STEPHEN'S HOUSE I GLOUCESTER ROAD I LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31, DECEMBER 2025
{ continued I
FIXED ASSETS
7.3 FIXED ASSETS INVESTMENTS
COST OR VALUATION
Land and
Buildings
Material
Investment
Holdings
TOTAL
Balance as at l January 2025
4,600,000
929.926
5,529,926
Prlor year revaluation deficlt
.400,¢lXI
-400,000
RevaluatSon Deficlt
-60,WO
-10,855
-70,855
Tronsfer to Tan8ible Fixed As5etS
-1 IOO CNJO
N B V at 31, December 2025
919 071
959 071
N B V at 31, December 2024
4 6CNJ 000
929 926
The Lon8 Leasehold property is situated at 48.50, Emperor's Gate, South Kensln8ton, London
SW7 4HJ. The Company holds a 999 years lease I from 31, December 19991 from the Number l Trust
Fund on the above property. The property15 stated at valuation in these financial statements.
The property was professionally revalued at £4,160,OCO by AMJ Wimbleton l FRICS l of Aspect
Surveyors Limited on 20, May 2025 on a falr value basis.
The above mentioned property had, hitherto, been treated as an Investment property in these
accounts.
The Trustees have revlewed thls posltlon this year and based on thls year's revaluation report,
have decided that the property ha5 "Mixed Use" and consequently. 'mixed use" treatment of
the property is appropriate. Hence the value of the Church Hall and the value of the Flat have
been se8re8ated and transferred to Tan8ible Fixed Assets.
5 529 926
2025
unrestrlcted
2024
unrestrlcted
8. DEBTORS
Prepayments
9. BANK AND CASH BALANCES
2025
unrestricted
2024
unrestricted
CBF Deposlt
CAF Current AccoLbnt
212,313
173 643
104,639
175 080
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
overdraft5 are shown within borrowing5 in current liabilities.
page 18

ST. STEPHEN'S HOUSE I GLOUCESTER ROAD ) LIMITED
NOTES TOTHE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31, DECEMBER 2025
I continued I
ID. CREDITORS: Amountsfalllng due wlthin oneyear
2025
Unrestricted
2024
Unrestrlcted
VAT Liability
Service Charge Creditor
Sundry Creditors and Accruals
13,117
12,779
14.284
10,259
11 FUNOS
UNRESTRICTED FUNDS
2025
2025
2024
2024
Balance Brought Forward
Prior- Year Adjustment
5,795,493
-400 000
5 395 493 5.395.493
321,018
-243,651
5,659,739
325.761
-235,174
Incomin8 Resources
Resources Expended
Revalvation L055 on fixed 155ets for
the charity's use
Revaluation Gain on investment property
Net Gain on Investment Revaluation
-60,000
20,000
Balance Carried Forward
5 422 005
Unrestricted funds represent funds which are expendable at the discretlon of the
Company in the furtherance of Its objects and which have not been desi8nated for
other purposes.
795 493
12. PRIOR-YEAR ADJUSTMENT
The prior-year adjustment repre5entS the accumulated losses In the value of the
property situated at 48-50, Emperor's Gate between 26, May 20201 the previous
revaluation date l and 31, December 2024. Whereas the property was revalued at
£4,600,000 on 26, May 2020, it5 value at 31, December 2024 was stated at £4,200,000
13. EMPLOYEES
Average number of employees
The Company employs no staff
14. POST BALANCE SHEET EVENTS
The Trustees and Directors are not aware of any post balance sheet event which could
materially affect these financial statements.
15. RELATED PARTY TRANSACTIONS
The Irustees confirm that there were no related party transactions during the year.
page 19

ST. STEPHEN'S HOUSE I GLOUCESTER ROAD I LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31, DECEMBER 2025
I continued I
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 sufficient resources to provide a 5UStainable 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 conslstent approach over the longer term.
Thls may entall runnlng elther a deficit or surplus in any one particular financial period, as
necessary
17. VOLUNTEER CONTRIBUTION
The charltv 15 reliant on volunteers who contribute their skills, time, money and their
resources in the furtherance of the work of the company. Principally, this contribution
55 by servln8 on commlttees of the Company that deal with finance, policy, grants,
developments. etc etc.
The contrlbution of volunteers is not included within the income of the Companv.
The trustees are 8rateful to all of them for their help and commltment,
18. MEMBERS LIABILITIES.
Every member of the charlty 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 whlle he or shels
member or within one year after he or she ceases to be a member, for payment of the
charlty's debt5 and Ilabllltles contracted before he or she ceases to be a member, and of the
costs, char8es and expenses of windln8 up, and for the adjustment of the rlght5 of the
contributories among themselves.
19. FINANCIAL INSTRUMENTS
All the Charity's financial instrument5 qualify as baslc flnancial instruments In accordance
with section 11 of FRS 102 and are recognised on the following basis
11 Cash and cash equlvalent represent bank balances and deposlts held in Sterling
111 Investment5 are measured at market value at the balance Sheet date
lill Debtors are measured at the transactlon prlce less any provi51on for doubtful debt5
iv) Creditors a￿ measured at the transaction prlce.
page 20

ST. STEPHEN'S HOUSE I GLOUCESTER ROAD ) LIMITED
NOTE5 TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31, DECEMBER 2025
I continued I
20. EXPENDITURE APPORTIONED BETWEEN ACTIVITIES
Governance and Other Costs are apportioned between Activities I Charitable and Expenditure to
raise funds l on the basis of each activity's direct costs In the year In relation to each other.
This policy excludes any exceptional and non-recurring items.
Total
charitable
activities
Expenditure
to raise
fund5
DIRECT COSTS
Management Fees
Accountancy Charges
Audit Fees
Bank Char8es
Others
22.0
4,050
3.850
95
795
13,155
2.422
2,302
57
476
8,845
1,628
1,548
38
The Charlty does not recelve any charltable income. All its income in the year are derived
from 5eThlces it provides ie
il Rent from the renting of the charlty's property
111 Contribution by tenant5 towards the c05t of runnin8 the property.
However, the charity incurs charltable costs by donating some of the non-charitable income
it recelves.
The most appropriate basis of allocatin8 SUPPORT COSTS l Governance and Others I between
Charitable Activities, and Expendlture to Raise funds therefore, Is to apply the Oirect costs of each
activity.
21 DETAILS OF CERTAIN ITEMS OF EXPENDITURE
2025
2024
Audit Fees
page 21