REGISTERED COMPANY NUMBER: 04289891 (England and Wales)
REGISTERED CHARrrY NUMBER: 1089919
Report of the Trnstees and
Audited Financial Sthtements
for the Year Ended 31 December 2023
for
Gospel Support and Homes Trust Limited


**----- Start of picture text -----**<br>
Gospel Support and Homes Trust Limited<br>Contents of the Financial Statements<br>for the Year Ended 31 December 2023<br>Page<br>Reference and Administrative Details 1<br>Report of the Trustees 2 to 5<br>Report of the Independent Auditors 6 to 9<br>Statement of Financial Activities 10<br>Statement of Financial Position 11<br>Statement of Cash Flows 12<br>Notes to the Statement of Cash Flows 13<br>Notes to the Financial Statements 14 to 23<br>**----- End of picture text -----**<br>




Gospel Support and Homes Trust Limited
R¢f¢rence and Administrative Details
for th¢ Y¢ar Endtd 31 December 2023
TRUSTEES
Mrs M BeckhaTn
Mr C H W Elgood
MrAFJNeden
Mr B W O'Donoghue
Ms J Maggs
Ms E R Weil (appointed I1.7.2023)
Mr G P R Kay {appointed 17.6.2024)
COMPANY SECRETARY
Mrs K Moody
REGISTERED OFFICE
114 Que¢n Victoria Street
London
EC4V 4BJ
RECISTERED COMPANY
NUMBER
04289891 (England and Wales)
REGISTERED CHARITY
NUMBER
1089919
AUDITORS
Garside and Co. Limited
Chartered Accountant & Statutory Auditor
Suite 631, Linen Hall
162-168 R¢g¢nt Str¢¢t
London
WIB5TG
BANKERS
Lloyds TSB Bank plc
39 Threadneedle Street
Londo
EC2R 8AU
Kingdom Bank
Media House
Padge Road
Bee5ton
Nottingham
NG9 2RS
INVESTMENT MANAGERS
London Wall Partners LLP
Salisbury House
London Wal
London
EC2M 5QQ
Page I

Gospel Support and Homes Trust Limited
Report of the Trustees
for the Yèar Ended 31 DeeèmbÈr 2023
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with
the financial statements of the charity for the year ended 31 December 2023. The trustees have adopted the provisions
of Accouttting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their
accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102)
(effective l January 2019).
OWECTIVES AND ACTIVITIES
Objectives and aims
The principal activity and objectives of the Trust are to provide support for Christian ministy in l.ondon. This is carried
out by providing accommodation for Church ministers and workerg, and by gtyant making appropriate to its charitable
aims.
Achievements and performanee
During the year the Trust continued to hold and maintain properties - both owned and leased - to facilitate the Christian
gospel ministy of individuals. The Trust's London property portfolio consists of 13 properties which provid¢
accoTnvnodation for 24 Christian workers. It also owns one office building which provides office space for 26 Christian
workers. In the p2St twelve months, additional v2C2nt space, within the office building, has been used by a nearby
church as space for their Sunday School.
The TTUSt had also purchased another propety in 2022. Once developed our aim is to provide 5-6 flats to accommodate
Christian workers. Planning work continues on this purchase in consultation with architects. advisers and planning
consultants.
One property was sold during the year as it was no longer appropriate for ministry needs.
Public benefit
When planning our activities for the year. the tntstees have considered the Charity Commission's guidance on public
benefit and, in particular, the specific guidance on charities for the advancement of religion. It is their view that
Christian ministy whÈch aims to share the gospel with anyone who wishes to hear it, clearly meets the public benefit
criteria.
Given the nature of the Trust's support for Christian ministries the only voluntary work for the Trust is performed by
trustees.
STRATEGIC REPORT
Financial review
The Trust continues its eharitable work supporting Christian ministry in l.ondon, where unrestricted fund donations
received in 2023 were £662,643 (2022.. £284.014). Donations in 2023 included no legacies (2022: £10,000), and a
£300.000 gift from a donor who generously agreed to forgive a loan previously made to the Trust.
During the year ended 31 December 2023 the Trust made grants of £1 0,000 (2022: £28,000).
For the year ended 31 December 2023 the Trust returned a net surplus of £884,852, principally as a result of increased
donations (£378,629 higher than in 2022), a gain following the sale of one house no longer needed for ministry work of
£159,354 and unrealised gains on the inve5trnent portfolio £82,082. Thi5 increased reserves by £884.852 (2022- a
decrease of £31,270). At the year end total reserves have increased to £1 0,629,415 (2022: £9,744,562).
Principal assets are properties held for our charitable purposes at cost of £7.091,656 (2022-. £7.322.882) and
investments at bid market value £1,691,894 (2022= £1.595.500).
Page 2

Gospel Support and Homes Trust Limited
Report of the Trustees
for the Year Ended 31 December 2023
STRATEGIC REPORT
Financial review
Principal sources of income and expenditure
The principal sources of income to the Trust are:
- donations received.
interest on the cash balances held;
income from investments.
rental income is received in relation to properties held - typically costs of renting or owning properties are recharged
to the ministries which use the properties, with the benefit of using the Trust being the ability to make long tenn lease
or ownership conunitinents.
The greater part of the exp¢nditUTe relates to the properties. either rents paid to landlords, or maintenance expenditure
on the owned and leased properties. The Trust supported some ministry workers during the start-up phas¢ for church
plants.
Additionally. there are administration costs. principally the cost of two part time employees who oveTsee the properties
and finances. There is some additional accountancy and legal and professional support.
Reserves and Investment Policy
It is the policy of th¢ Trust that LU]restricted funds which have not been designated for a specific use should be
maintsined at a levcl equivalent to between three and six months, expenditure. The truslees consider that reserves at this
level will ensure that, in the event of a 51gFiiificant drop in funding, they will be able to continue the Trust's current
activities while consideration is given to ways in which additional funds Jnay be raised. This level of rescrves has been
maintained throughout the year.
It is the policy of the charity to maintain its reserves in order to..
meet the day-toknday operating requirements of the charity"
meet the on-going obligatiotts in respect of rented property"
fund the holding of residential properties used by individuals employed in ministy and the maintenance and repair of
such propcrties-
fund the redevelopment of PToperty acquired for the PUTpose of providing future accommodation for individuals
involved in ministy-
fund expans&ons of ministry, currently anticipated but not yet committed
fund short term loans to initiatives which support th¢ objects of the charity.
Where the Trust has reserves which are not needed in the short terni. or where they are set aside to give confidence to
the truslees when making medium and longer temi lease commitments, the Trust's policy is to invest amounts surplus to
immediate cash flow requirements. Punds surplus to immediate requirernents are invested through a professional tund
adviser with an objective of enhancing their value over tiine. London Wall Partners LLP. who were appointed in June
2020, now advise on the management of these invested funds and on appropriate separate custodians, asset allocation
and separate commingled funds, under one or more fund managers with expertise in each of the separate asset classes.
Whilst there is no formal social Investi￿ent policy restricting investments in specific industries or companies, the
investments are made through managers ()r with advice from those who are in sympathy with the objectives of the trust.
The investment policy is reviewed formally each year. Our aiin is to accrete value ov¢r the longer term by selecting
managers and advisers who have a proven track record of long-terni aeeumulation of value over and above inf]ation.
GOING CONCERN
The Trustees consider there are no material uncertainti¢s a￿ut the charitsble Company'5 ability to continue as a going
concern. The review of the financial position, reserve levels and future plans gives Trusle¢s confidence the charitable
Coinpany remains a going concern for the foreseeable ￿ture.
Page 3

Gospel Support and Homes Trust Limited
Report of the Truste¢s
for the Year Ended 31 December 2023
STRUCTURE, COVERNANCE AND MANAGEMENT
Governing document
The Trust was incorporated on 19 September 2001 as a company limited by guarantee as defined by the Companies Act
2006, and it is governed by its Articles of Assoctation updated in 2023 It is registered in England (company numb¢r
04289891) and it is a registered Charity (charity number 1089919). Under the tsmis of the Memorandum of Association
should the COTnpany be wound up and in the event of a deficiency of assets, every member undertakes to contribute not
more than £1 for the payment of the company's liabilities.
The trustees. who are also the directors for the pU￿oSe of company law, and who served during the year were:
Mrs M S Beckham
Mr C H W Elgood
Ms J Maggs
MrAFJNeden
Mr B W O'Donoghue
Ms E R Weil (appointed I1.7.2023)
Recruitment and appointment of new trustees
New mistees are recruited from the pool of individuals who are committed to the objects of the trust but have a range of
diverse experience including professional skills in finance, in property manageFnent and in administration. New trustees
are appointed by the currcnt trustees. Specific professional advice is sought from legal and accounting advisers where
the trustees identify that further exp¢rt input is required.
Organisationgl structure
The Board meets on a quarterly basis to review the finaTtcial position of the Trust and the property assets held. Day to
day administration of thc finances and the properties is handled by th¢ administrator and by the property manager, with
input as required from individual tn￿te¢s. Given th¢ nature of th¢ Tiust's support for other ministries the only voluntary
work for the Trust is perfomied by trustees.
The Board works to ensure compliance with its legal duties to:
Act Tn the interests of the charity
Protect and safeguard the assL4s of the charity
Act with reasonable care and Skill
Ensure the charity is accountdble
Applications for employrn¢nt by disabled persons are always fully considered, bearing in mind the aptitudes of the
applicant concerned. In th¢ event of membcrs of staff becoming disabled. every effort is made to ensure that theiT
employTncnt within the Trust continues and that the appropriate training is arranged. It is the policy of the Trust that the
traTning, career development and promotion of disabled persons should, as far as possible, be identical to that of other
employees.
RelAted parties
Details of related parties, where the trustees have responsibility for other charities which have dealings with Gospel
Support and Homes Trust Limited, are set out in the notes to the accounts, where applicable.
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ¢tlSUTe appropriate
controls are IT] place to provide reasonable assurance agaiTJSt fraud and error.
The Board has reviewed the major risks and is satisfied that all possible precautions have been taken to minimise them.
Internal systems and procedures are in place to control all financial transactions and ensure the Trnst's activities comply
with all applicable reglllations.
EVENTS SINCE THE END OF THE YEAR
Information relatin(F to events since the end of the year is given in the notes to the financial statements.
Page 4

Gospel Support and Homes Trust Limited
Report of the Trusttrs
for the Year Ended 31 Deceniber 2023
STATEMENT OF TRUSTEES. RESPONSIBILITIES
The trustces (who are also the directors of Gospel Support a]Jd Homes TnL8t Limited for the Purposes of company law)
aTe rcsponsil>le for preparing the Report of thc Trustees and the financial ststcmcnts in accordance with applicable law
and United Kingdom Accounting Stalldar￿ (United Kingdom Generally Accepted Accounting Practice).
ConwaDy law requires the trustees to prepare financial statements for each financial year which give a true al￿ far view
of the state of affairs of the charitsble company and of the incoming resources al￿ application of resources. including
th¢ income and expenditure, of the charitable company for that pcriod. In preparing those fjnancial 5tafrments, the
tn￿teeS are required to
select suitable accouDting policies and then apply them consistently.
observe the n￿thOdS and principles in the Charity SORP.
make judgements and e￿}ma￿S that are rwonable alld p￿dent.
slate whether applicable accounting standarib have been followed, subject to any matsrial departures disclosed and
explained in the financial statements"
prepare the financial statements on the going concern basis unle&s it is inapproprlate to presume that the charitable
company will L%YDtinue in business.
The trnstees are responsible for keeping proper accounting records which disclose with reasonable a¢ctw at any tirne
the financial position of the charitable company and to enable them to ensure that the f]n8ncial statements comply with
the Compatiies Act 2006. They aTe also responsible for safeguarding the assets of the clwitable company and hence for
taking re&80nable steps for the pTrventioll alld detection of fraud and Ot1￿ irregularities.
STATEMENT AS TO DISCLOSURE OF INFOIIMATION TO Al7D￿oRs
So far &s the tr￿steeS are aware. there is no relevant infom)atioD (a5 der￿ed by Section 418 of the Companies Act 2006)
of wliich the charitable companvs auditors are UDaware. and each tn]stee bas taken all the steps that they ought to have
tsken as a tr￿8tee ill order to ￿￿ke them aware of any audit infom)ation and to establish that the clwitable companYs
audito￿ are aware of that inforn)ation.
AUDITORS
In accordance with the company's articles. a resolution proposing that GaTside and Q). Limited be ￿ppointed 08
a}￿ltOr of the rompaDy will be put at a Genera] Meetin&
Report of the tsvstee4 inco
orating a strategic reporL approved by order of the board of ttwtees, as the company
directors, on11.tkT'¥fYx&.,. ....
.. and signed on the board's behalf by."
Mr A F J Neden- Trustee
Page 5

Report of the Independent Auditory to the Menthers of
Gospel Support and Honw Trnst limited
Oplnion
We hav¢ audited the financt81 statements of Gospel Support and Homcs TnLSt Limitcd (the 'clwitable company) for th¢
year ended 31 Deeetnber 2023 which comprise the Ststement of FFnancial Activities. the Statement of Financia]
Positio￿ the Ststement of Cash Flows and notes ts) the financial statement% including a summary of significant
accounting policies. The financial reporting framework that ]￿ been applied in their preparntion 15 applicable law and
United Kingdom AccouDting Stsndarts (United Kingdom Generally Accepted Accounting Practice).
In our opit)ion the financial statements:
give a true and fair view of the stste of the charitable company's affairs 8s at 31 December 2023 and of its incoming
resources and application of resource4 including its income and expenditure, for the year then ended.
bav¢ been properly prepared ID acwrdance with United Kingdom Generally Accepted Accounting Practice. and
have been prepared in accordance with the requirements of the Compallies Act 2006.
Basls for opinlon
We conducted our audit in accordance with International Standarits on Auditing (UK) OSAS (UK)) and applicable law.
Ow respoDsibilities under those staDdarits are fiuther described ij) th¢ Audilors, responsibilities for the audit of the
financial statements section of our report. We are independent of the charitable company in accordance with the ethical
requirements that are relevdnt to our audit of the financial statements in the UK, includtng the FRC'S Ethical Standard,
and we have fulfilled our other ethical responsibilities in accordance Trith these requirements. We believe that the audit
evidence we have obtsined is sufficient and appropriale to provide a basis for our opinion.
ContlusRons rdathig to golng eoneern
In auditing the fll]allcial statements. we have concluded that the tr￿steeS, of the going concern b&8is of accounting in
the prq)aration of the financial statements is appropriate.
Based on the work we have perfonned. we have not identified any material uncertainties r¢lating to cvents or conditiolls
that, individually or collectively, may cast sigtiificant doubt on the charitable company's ability to continue as a going
concern for a period of at leagt twelve months from when the fmancial statements are autI￿riSed for issue.
Our respo￿sIbilItieS and the r¢sponsilJiltti¢s of th¢ I￿￿teeS with respect to going concern are described in the relevant
sections of this reporL
Other Rnformation
The ttv5t¢es are responsible for the other information. The other inforn￿tIon comprises the information included in the
Aunual R￿or4 other than th¢ financial stat¢m¢nts and our R¢port of the Indcpclldcnt Auditor5 thcrcon.
Our opinion on the financial statements does not cover the other infonnation an¢ except to the extent otherwise
explicitly stated in our repor¢ we do not express any forn) of assurance conclusion thereon.
In conn¢Gtion with our audit of the financial statemetts. our responsibility is to read th¢ other iDforn]ation all￿ in doing
so, considcr whctheT the other inf0m￿tion is TDatuially incon5i5tcnt with the financial statcmcnts or our knowledge
obtsined in the audit or otherwise appears to be ll]aterially misstated. If we identify such material inconsistencies or
apparent material misstatements. we are required to deterniine whether this gives rise to a ll]ateIial misstatement in tbe
financial statements themselves. If, based on the work we have perfornirf we conclude that there is a material
misstatement of this other infornwtion, we are required to report that fact. We have nothing to report in this regard.
OpRllions other matters prescribed by the Companies Act 2006
Ill our opinion, based on the work undertaken in the course of the audit:
the information given in the RqM)rt of the Tn￿teeS for the fll)ancial year for vthich the financial statements are
prepared is CODSiStent with the financial statements. and
the Report of the Tn￿te¢S has been prepared itl accordance with applicable legal requirements.
Page 6

Report of the Illdepelldent Auditors to the Members of
Cospel Support and Homes Trnst Iimited
Matters which we XTe Tequired to report by excepllon
In the light of th¢ knowledge and understanding of the cRwitable company and its environment obtsilled in the COUTse of
the audiL we have not identified material misstatements in the R￿ort of th¢ Tr{L8t￿$.
We have nothing to report in respect of the following matters vthere the Companies Act 2006 requires IL8 to report to you
il, in our opinion:
adequate accowiting records have not been kept or returns adequate for our audit have not been receivoj from
brallCI￿ not visited by us. or
the financial statements are not in agreement with the accounting records and returns. or
¢ertaÈn disclosures of trustees, remuneration specified by law are not made. or
we have not received all the information and explanations we require for our audiL
Re8ponsibilitse8 of trnsteey
As explain¢d more fully in the Stat¢An¢nt of Tn￿te¢s, RespollsibilitÉes, the trustces (who arc also th¢ dir¢ctors of the
cl]aTitable ciJmpaDy for thc purposes of compally law) are responsible for tbe preparation of the financial statcments and
for being satisfied that they give a true and fair view. and for sucb inlernal control as the t￿￿teeS detennine is necessary
to enable the preparation offjnancial statements that arc free from ￿at¢rial ffjisststcffj¢nL wh¢ther due to fraud or ermr.
In prepari7]g the financial slaternents. the trustees are responsible for assessing the charitable coMpan￿S ability to
continue as a going concern. disclosing, as applicable, matters related to going eollcern and using the going concern
b&sis of accounting unlc&% the trustses either intend to liquidate the charitable company or to cease opcrdtioDS. or have
no realistic alternative but to do so.
Page 7

Report of the Independent Auditon to the Members of
Gospel Support and Trust Llmlted
Our 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 mis81atemcllL whcth¢T due to fraud or error. and to issue a Report of the IDdependent Auditors that includes our
Opinio￿ Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordaDce
with ISAS (UK) will always detect a matsrial misstatement when it exists. Misstatements can arise from fraud ot t￿}r
ond are considetEd material if. individually or in the aggregate, they could reasonably be expected to influence the
economic decisions of users taken on the basis of these financial statements.
The extent to which our proccdures are ¢apable of detecting ]￿egUlarItieS, including fraud is detailed below:
Identi
2nd res
ODdin to risks of material misstatement due to fraud
As required by audiiing stsndatds. and tsking into accowit ￿sSIble Pressures to meet profit tsrgets and our overall
knoWI￿g¢ of the control enviroJ]ment, wc pcrfolmed procedures to addrcss thc risks of managemcllt OV￿ride of
controls and the risk of fraudulent revenue recogDitioo the risk that those in charge wAth n￿￿gernent may be in a
posttion to make inappropriate accounting entries and the risk of bias in accounting estijnates and judgements such as
the valuation of fixed assets and financial instruments and depreciation policies.
To id¢ntify risks of material misstatCDKnt due to fraud ('fraud risks,? we &ss¢ssed events or collditioDS that could
indicate an incentive OT pressure to con)miÈ fraud or Provide an op￿)rtUnity to commit fraud. We con]municated
identified fraud risks throughout the audit team and remained alert to any indications of fraud throughout the audit
Our risk ￿essMent procedures included..
- Enquiring of those charged with manag¢ment and Inspection of k¢y papers as to the policies and procedures to prevent
and detect frau& including the process for engaging nTrnagemeDt to idelltify fraud risks specific to the entity's sector, as
well as whether they have kI￿￿ledge of aDy actual. suspected. or alleged fralld"
- Reviewing minutes of trustees, meetings.
- cO￿81dering ￿￿￿get￿￿t'S incentives and opportutiitie5 for fraudulent maniputatlon of the financial statemen
- Asse&8ing sigDificaDt accounting ¢stimales for bias" alld
- Auditing the risk of manwnt override of controls, including through testing journal eThtri¢s and other adjustments
for appropriateness, and evaluating the business rationale of sigDificant trans&ctions outside the norn]al course of
business.
Identi
and res
ndin
to risks of material misstatement due to non-co
lianc¢ with laws and re
atio
We considered the extent to whtch non-compliance might have a material effect on the financial statements. We also
considered those laws and regulations that have a direct impact on the fu￿￿181 Ststell￿llts such as the Companies Act
2006 alld the Charities Statement of Recommended Practice (SORPS) FRS 102.
The entity i5 subject to laws and regulations that direcdy affect the financial statements including financial TeportlDg
legislatio￿ tLxation legislation (payroll taxes), and pension IcgtslatioD and we assess¢d the extcnt of compliance with
these laws and re￿￿atiOnS &8 part ofowprocedures on the related financial statements items.
As the entity is regulated, our assessment of Tisks involved gaining an understanding of the control environment
including the ¢ntity'5 Procedures for complying with reguIatory requiretnents. We communicated identified laws aDd
reguIations througbout our team and T¢mained alert to any indicatiODS of non-compliance throughout the audit.
Our procedures included:
DiscussioD with those in charge with n￿￿gement and from inspection of the entity's regulatory and legal
Co￿eSpOndence.
- Discussion with those charged with llwwment the policies and proccdurcs regdrding compliance with laws and
regulations.
Reviewing financial statement disclosures and testing to supporting dOCum￿tatIOn to assess compliance with
applicable laws and regulations" and
- EnqtEiry of maDagcmcnt, thosc charged with governance around actual and witetrtial litigation and clain
A fitrther description of our responsibilities for th¢ audit of the financial ststements is located on the Financial Reporting
Council's website at www.frc.org.uklauditorsresponsibilities. This description forn]s part of our Report of the
Independent Auditors.
Page g

Report of the Independent Auditors to the Mellthers of
Gospel Support and Homes Trnst limited
Use of our report
This Teport is made solely to the charitsble companys membeT5, as a body, in accordance with Chapter 3 of Part 16 of
the Companies Act 2006. Ovr audit work has been undert2ken so that we might state to the chaTitabl¢ company's
mcffjb¢rs those matters we are required to state to them in an auditors, report and for no other purpose. To the fullest
extent pennitted by law, w¢ do not accept or assume r¢sponsibility tt) anyone other than the chaTitable company and the
charitable cOmpan￿S membeTS as a body, for our audit worK for this rwrL or for the Opillions w¢ have forn]ed.
Gareth Ow
ghes Bsc ACA (Senior Statutory Auditor)
for and on behalfof Garside and Co. Limited
Chartered Arcounlant & Stathtory Auditor
Suite 631, Linen Hall
162-168 Regent Strect
London
WIB 5TG
Page 9

Gospel Support and Hon￿8 Trnst Llmited
Statement of Financial Aclliryties
for the Year Ended 31 Deeember 2023
31.12.23
Total
funds
31.12.22
Total
funds
Unrutri¢tsd Restricted
fimd
fiwd
Notes
INCOME AND ENDOWMENTS FROM
Donations and leg￿leS
662.643
662,643
284,014
Other trading activities
Investment income
Other income
471,341
23,079
166.229
471,341
23,079
166,229
470.403
17.256
2.719
Total
1,323292
1,323292
774,392
EXPFNDrruRE ON
Raislng funds
Costs of generaling fiuujs
9,011
9,011
8.325
9.011
9.011
8,325
Charitable activities
Charitable activities
501,511
10,000
511,511
457,649
Tot41
510,522
10.000
520.522
465.974
Net gainslo ) on investtnents
osses
82,082
82,082
(339,688)
NET INCOMEI(KXPENDNURE)
894,852
(10.000)
884.852
(31.270)
RECONCILIATION OF FUNDS
Totsl fimds brought fonvard
9.566.180
178,383
9.744.563
9,775,832
TOTAL FUNDS CARRIED FORWARD
10.461,032
168,383
10,629,415
9.744,562
The notes forni part of these financial gtatements
Page 10

Gospel Support and Homes Trnst limited
StatemeJJt of Flnxntial Positio
31 Deeember 2023
31.12.23
Total
31.12.22
Total
UDr¢strictsd Rc5tricted
fimd
fund
Notes
FIXED ASSETS
Tangible assets
Investments
14
15
7.536,134
1,691,894
7530.134
1,691,894
7.821.055
1,595.500
9228.028
9.228,028
9.416,555
CURRENf ASSETS
Debtors
C&sh at bank and in hand
16
90,844
1,176.089
90.844
1,344,472
129.407
525,614
168,383
1,266.933
168,383
1,435.316
655.021
CREDITORS
Amounts falling thje within one year
17
(33,929)
{33,929)
(327,014)
NET CURRENf ASSETS
1,233,004
168.383
1,401.387
328.007
TOTAL ASSETS LESS CURREwr
10,461.032
168,383
10.629.415
9.744.562
IYET ASSETS
10.461,032
168,383
10,629.415
9.744,562
FUNDS
Unrestricted fuDds
Restricted funds
19
10,461,032
168.383
9.566.179
178.383
TOTAL FUNDS
10,629.415
9,744.562
The financial statements were approved by the Board of Trustees atyi authorised for issue on
and were signed on its ￿half by:
MrAF
Neden- Trustee
The notes forn] part of thes¢ fiA)ancial statements
Page 11

Gospel Support and Homes Trnst Limited
Statsment of Cash Flows
for the Year Ended 31 Decenther 2023
31.12.23
31.12.22
Cash Ilows froAn operpétillg aetivfities
Cash generated from operati0Tr8
419.393
271.310
Net casb provided by operdling a£tivities
419,393
271.310
Cash flows from investing activities
Purch&se of tangible fixed assets
Purchase of fixed &sset investmet
Sale of tangible fixed a&sets
Interest received
(25.703)
(14,312)
416,401
23.079
(1200.149)
(15,000)
19.104
N¢t cash PTovided by/(used in) inv&sting activiti&%
399.465
(1.196.045)
Ch811ge in cash 2nd eash equfivalents In
the reporting period
Cash and casb equivalents at the
begIn￿g of the reporting period
818,858
(924.735)
525.614
1.450.349
Cash and e28h equiv8lents at the end of
the r¢porting p¢riod
1.344.472
525.614
The notes fontE part of these financial statements
Page 12

Cospd Support and Home5 Trnst Limited
Flotes to the Ststement of Cash
for the Year Ended 31 December 2023
RECONCILIATION OF IYET llYCOMEI(EXPEThDITURE) TO IYET CASH FLOW FROM
OPERATINC ACTIVITIES
31.12.23
31.12.22
Net Incomel(expenditure) for the reportkng period (as per the
Statement of Finvdncial Activities)
Adjuslments for:
Depreciation charges
(Gain)llosses on investments
(Profitylo&s on disposal of fixed assets
Investment incotue recogDis¢d in SOFA
Other interest received
Decrease in debtors
Decrease in creditors
884.852
(31,270)
53,577
(82.082)
(159,354)
(15.482)
(7,597)
38,564
(293.085)
54,949
339.688
549
(16,278)
(2,826)
17,608
(91.110)
Net ￿$b provided by operatiODS
419,393
271.310
ANALYSIS OF CHANGES IN NET FUNDS
At 1.1.23
Cth flow
At31.1223
Net cash
Cash at bank and in band
525,614
818,858
1.344,472
525,614
818.858
1,344,472
525.614
818.858
l J44.472
The notes forni part of these fllwKial statem
Page 13

Gospel Support and Mon￿$ TnRst Limited
Notes to the Finanelal Statements
for the Year Ended 31 December 2023
CHARITY INFORMATION
Gospel Support and Homes Tn￿t Limited is a private company limited by guarantse iDCOTporated in England
and Wales (company number 04289891). The registered office addre&8 is 114 Queen Victoria Street, LA)ndo
EC4V 4BJ.
AccouiYfiNG POLICIES
Basis of preparljjg tbe fin8nci21 ststements
The financial statements of the charitable company. which is a public benefit eDtity under FRS 102, have bee
prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by ChaTities: Statement
of Reconllnended Practice applicable to charitics PTeparing thcir accounts in accordance with the Financial
Reporting Standard applicable in the UK gnd Republic of I￿19nd (FRS 102) {effective l January 2019),.
Financial Rqx)rting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of
JrelaKkd' and the Companies Act 2006. The financial statemcnts havc bcen PTepaTed undcr thc historical Cost
convcntion, with the exception of investments which are included at market value. &% modificd by the revaluation
of certain assets.
Gospel Support and Homes Tn￿t Limited m￿ts the definiti(m of a public benefit entity under FRS 102.
The financial statements aTC prcpaTcd in sterling (£), which is the functional currency of the TnLSt. Monetary
amounts in these financial statements are rounded to the nearest £.
Le8￿ status of the TnRst
Gospel Support aDd Homes Ttust Limited is a company limited by guardnt¢¢. Th¢ rnemb¢rs of th¢ company are
the trustees llattEcd on page l. Under the tern￿ of the Memorandum of Association should the company be
wound up and in the event of a deficiency of a&sets. every member undertakes to contribute not more than £1 for
the payment of the COMp￿￿S liabilities.
Going ¢oll¢ern
At the tinle of approving the financial slatements, the tn￿te¢S hav¢ a r¢&sonable expectation that the TnLSt has
adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to
adopt the going concern basis of accounting in preparing the financial statements.
Incoming resources
Income is recognised when tbe Trust is legally entitled to it After any perfornTrnce conditions have been mel the
amounts can be measured reliably, and it is probable that incorn¢ will be received.
Cash donations are Tecognised on receipt. Other donations are recogDised once thc Trust has been notified of the
donation. unless perfortnance conditions require deferral of the amount. Income lax recoverable in relation to
donatiODS received under Gift Aid or deeds of covenant is recognised at the tinje of the donation.
Legacies are recognÉsed on receipt or otherwise if the Trnst has been Dotified of an impending distribution. the
amount is known. and receipt is £xpcctcd. Ilthe amount is not known, the legacy is treated &s a contingent asset.
Re50urees expended
Liabilities arc recognised as expenditure as soon as there is a legal or constmctive obligation committing the
clwity to that expenditure. it is probable that settlement will be required and the amount of the obligation can be
measured reliably.
All expenditure is accounted for on an accruals basis. All expenses including 5UPPOrt costs and governance costs
are allocaied OT apportioned to the applicable expendittwe beadings.
Irrecoverable VAT is charged against the expenditure heading for which it was incuTred.
Grants payable and donations made are accouErted for when paid or awarded and a binding obligation is created.
Pag¢ 14
contiEmed..

Go$p¢l Support and Hom¢s Trust Llmlted
Notes to the Fin2ntixl Statements- continued
for tbe Year Ended 31 December 2023
ACCOUNTING POLICIES- eonlillued
Tangiblè fixed #ssets
TangÈble fixed &ssets are initially m&￿ured at costs and subsequently measured at cost or valuation, net of
depreciation and any provision for impaimienL
Depreciation is recognised so as to write off the cost or valuation less estimated residual values of all fixed assets
over their expected useful lives. It is calculated at the following rates:
Igasehold land and buildings
Over the life of the lease on a reducing balance basis
Fixtures. Fittings and Equipment 3 to 50 yeats on a straight line basis
8sets within the Tesidual properties are treated as havillg the shorter usefid life of 3 years, and the assets arising
from the refurbis]]ment of the freehold offices at SÉ Michael's Rectory are tr¢ated as having a 10 or 50 year life.
depending on the trnstees, estitnate of the time until the next requirement refurbishment.
The gain QT I¢)5s arising on the disposal of an asset is d¢t¢rmined a5 thc diffcrcnce between the sale procccds and
the carrying vaIue of the asseL and it is recognised ID net income/(expenditure) for the year.
The freehold properties are a resource for the use of the charity. but provisions are n￿de to reduce such
properties to estimated open matket valuc5 a5 and when considered appropriate. These assets are currently
shown in the balance sheel at historic cost and thc truslees consider thetr overall market value to be greateT than
the value at which they are sbow] in the flnancial statements.
Fiied assets investments
Fixcd invcstmcnts arc a forni of basic financial instnjment and are initially recogDiscd at transaction price
excluding transaction c08ts, and are subsequently measured at fair value at each reporting date using the closing
bid market price. The statement of financial aetivities includes the net gains and losses arising on revaluation and
disposals throughout the year. Transaction costs are expensed &8 incurred.
Tbe main forn] of risk faced by the Charity is that of volatiltty in equity markets and investtllent markets due to
wider economic conditions. the attitude of investors to investment risL and changes in sentiment concerning
equities aind within parttcular sectors or sub-sectors.
AJI gains and losses are taken to the Statement of Financial Activities as they atisc. Realised gains and losses on
investments are calculated as thc diffeTencc between sales proceeds and their opening carrying value or their
purcbase value if acquired subsequent to the r￿t day of the financial year.
Unrealiged gains and losses are Calculated as the difference between the fair value at the year end and their
caTrying value. Realised and unrealised investment gains Imd losses are combined in the Statement of Financial
Activities.
ChYdritabRe fullds
Unrestricted fiM]dg
Unrestricted funds are available for ￿se at the discretion of the trustses in fi￿eT￿nce of the generdl objectives of
the cl]arity.
The revaluation reserve includes the accumulatcd ullrca]ised profits and losses of investments.
Restrictcd fimds
RestrÉcted fimds co￿lse fimds to be used only in accordance with the wishes of the donorfs), or in accordance
with the tenns of a Charity Commisston Scheme. Donations not yet expended are carried fonvard until utilised
for the Purpose for which they have been given.
Cash and cash equivalents
C&8h and cash equivalents include c&sh in hand. deposits held at call with banks. other 5hort-terni liquid
invesknents on￿nal matUEities of three months or less. and bank overdrafts. Bank overdrafts are shown
within borrowings in cEtrrent liabiltties.
Pagc 15
continued...

Go%pel Support 2nd Homes Trust IAmvted
Notss to the FIDanclal Statements- colldnued
for the Year Ended 31 Deeember 2023
AccouNrtNG POLlCtES- continu¢d
Pension contributlons
Contributions payable to thc charitable compangs pension scheme are charged to the Statement of Financial
Activities in the pertod to which they relate.
Employee be￿efits
The cost of any ullused holiday entitlement is recognised in the pcriod in which the en)ployee's services are
received.
Tern)ination benefits are recognised immediately &s an expcDse when the charitable company is demoll5trably
committed to termin2ts the employment of an employee or to pmvtde termination benefits.
Value added t*
Value added tax is not recoverdble by the ¢ompanyy and as such is included in the relcvattt costs in the Statement
of Financial Activities.
DONATIONS AND LEGACIES
31.12.23
Total
funds
31.12.22
Total
funds
Unrcstrictcd
funds
Restricted
fimds
Donations, gifts and legacies
Gift aid
530.998
131,645
530.998
131,645
229.913
54.101
662,643
662.643
284,014
OTHER TRADING ACTIVITIES
31.12.23
Total
fimds
31.12.22
Total
Unrestricted
fi]ndg
Restricted
funds
R¢ntal income
Insurance income
DilapÈdation incoll
436284
2,347
32,710
436,284
2,347
32.710
470.403
471,341
471,341
470.403
INVESTMENf INCOME
31.12.23
Total
3E.12.22
Total
UnresiTtcted
runds
Restricted
lunds
Income from listed investments
Interest receivable
15.482
7.597
15,482
7,597
16,278
978
23,079
23,079
17.256
Page 16
continued...

Gospel Support and Homes Trust Llmltsd
Notes to the FfinAllcl&l Statements- continued
for the Year Ended 31 December 2023
OTHER INCOME
31.12.23
Total
funds
31.12.22
Total
fimds
Unrestricted
funds
Restricted
funds
Gain on sale of tangible fixed &ssets
Sundry income
159,354
6,875
159.354
6,875
2,719
166,229
166,229
2,719
COSTS OF GENERATINC FiJNDS
31.12.23
Total
31.12.22
Total
funds
Unrestrictcd
funds
Restricted
funds
Investment llwiagetllellt ar￿ transaction
fees
9.011
9,011
8.325
CHAIUTABLE ACTIVITIES COSTS
funding of
activities
(see note
Direct
Costs (see
note 9}
io)
Totals
Charitable activities
501.511
10.000
511,511
DIRECT COSTS OF CILIRITABLE ACT[V￿lEs
31.12.23
31.12.22
Staff costs
34.241
251,915
58,866
9.733
8,446
60,783
15.033
6,800
1.887
230
53,577
31,649
217.536
9.147
6.267
7,399
78,470
12,360
6,000
5,090
233
54,949
549
Rates
Insurance - varrous
Inqurance- general
Repairs and maintenance
Legal al￿ profcssional
Auditor's remuneration
Other office expenses
Bank chgrges and interest paid
Depreciation
Loss on sale of tangible fixed a&8ets
501.511
429.649
Page 17
continued...

Gospel Support and Homes Trnst Limited
Notes to the Financi*l Statements- continued
for tbe Year Ended 31 December 2023
DIRECT COSTS OF CHAIUTABLE ACTtVlTIES- continued
Governance Costs
Governance costs included in Direct costs above were incurred during the yw el￿ed 31 December 2023..
31.12.23
31.12.22
Auditoes remuneration
Accountsncy fees
Legal and professional fees
6.800
3,000
12,033
6,000
3,000
960
21,833
9,960
io.
GRANfs PAYAB
31.12.23
31.12.22
Clwitable activities
10.000
28.000
11. NET INCOMEI(EXPENDITURE)
Net incomel(expenditure) is stated after chargingl(creditiDg)'.
31.12.23
31.12.22
Depreciation- owned assets
Rent
Surplvs/(deficit) on disposal of fixed assets
53,577
251,915
(159,354)
54,949
217.536
549
12.
TRUSTEES, REMUNERATION AND BENEFITS
Durtng the year ended 31 Dccembcr 2023 no trustees received remuneration for work perfonned on behalf of the
trust (2022: £Nil).
Trustees, e￿ell$e%
There were no tn￿te¢s, expellses paid for the year ended 31 December 2023 nor for the year ended
31 Deccmber 2022.
13.
STAFF COSTS
31.12.23
31.12.22
Wages and salarics
Other Pcllbion costs
30.641
3,600
28.593
3.056
34.241
31,649
The averdge mouthly numb¢r of employee5 during the year wds as follows..
31.12.23
31.12.22
Management and admijllstration
No employee5 Teceived emoluments in excess of £60,IX)O.
Page 18
continued...

Gospel Support and Homes Trust Limited
Notes to the Financlal Statemellts- contillued
for the Year Ellded 31 December 2023
14. TANGIBII FIXED ASSETS
Fixtures,
fittings
& equipment
IADd and
buildings
Totals
COST
At l January 2023
Additions
Disposals
7,322.882
25.703
(256,929)
1,122,711
8.445,593
25.703
(259,931)
(3.002)
At 31 December 2023
7.091.656
1.119.709
8.211,365
DEPRECIATION
At l January 2023
Charge for year
Eliminated on disposal
156,494
6,911
468,044
46.666
(2.884)
624.538
53,577
(2.884)
At 31 D¢cember 2023
163,405
511.826
675.231
NET BOOK VALUE
At 31 December 2023
6,928251
607,883
7.536,134
At 31 Dccember 2022
7,166.388
654,667
7.821,055
15.
FIXED ASSET INVESTMENrs
Listed
invc5ttnents
rillARl￿T VALUE
At l January 2023
Additions
RevaluatioL8
1.595.500
14,312
82.082
At 31 December 2023
1.691.894
NET BOOK VALUE
At 31 Dcccrnber 2023
1,691.894
At 31 December 2022
1.595,500
There were no investsnent assets outside the UK.
Cost or valuation at 31 December 2023 is represented by:
Listed
investments
Valuation in 2023
1.691,894
Fised asset investments revalued
All investmenls are carried at their fair value. Investment itk equities and fixed interest securities are all traded in
quoted public markets. primarily the Lond<)n Stock Exchange. The basis of fair value for quot¢d investments is
equivalent to the bid market value. Asset sales and purch&ses are recognised at the date of trade at cost (that is
their transaction value).
Page 19
continued...

Gospel Support and Homes Trnst Limited
Notes to tbe Flnancial Statements- continued
for the Year Ended 31 December 2023
15.
FIXED ASSET INVESTMENrfs- continued
The significance of financial instruments to the ongoing financial sustainability of the TTUSt is consid¢r¢d in the
rllwncial review section of the TTUStees' Annual Report.
The Trust manages investment risk by retailling expert advisors and operating an investment policy that Provides
for a bigb degree of diveTsification of holdings within investm¢nt cl&sses that are quoted on TecogDised stock
exchatiges.
16.
DEBTORS
31.12.23
31.12.22
Amounts falling due within one year".
Gift Aid receivable
Other loans receivable
Rent deposits
Prepayments al￿ accrued income
24,496
54,142
10,000
13.080
30.422
8,580
36,005
69.081
107.644
Amounts falling due after more than one year".
Oth¢r loans re¢eiYabl¢
21,763
21.763
Aggrcgate amounts
90.844
129.407
17.
cRED￿ORS. AMOUNTS FALLING DUE w￿H￿N ONE YEAR
31.12.23
31.12.22
Trnle credttors
tA)an payable
AccTuals and deferred income
880
300,000
26,134
33,929
33.929
327,014
During the year ended 31 December 2023 a loan pay&ble balance of £300,000 w&g transfcrred into a gift to the
trust. A8 at yeaT ended 31 December 2023 the loaD payable balance is £Nil (2022: £300,000).
18.
I￿As￿￿G AGREEMENTS
Minimwn lease pawts under Don￿CanCelIable opeTMting leases fall due as follows:
31.12.23
31.12.22
Withill one year
Between onc and five years
244,291
36,921
216,350
193,961
281,212
410,311
Page 20
continu¢d...

Gospel Support and Homes Trnst Llmlted
Plotes to the Financial Statements- continued
for the Year Ended 31 December 2023
19. MOVEMEiYf IN FUNDS
Net
movement
in fimds
At
31.12.23
At 1.1.23
Unrestricted funds
General fi￿d
9,566,180
894.852
10,461,032
Restricted hnds
Church planting fund
178,383
(10.000)
168.383
TOTAL FUNDS
9,744,563
884,852
10,629,415
Net movement in funds, included in the above are &8 follows:
Incoming
resources
Resources
expended
Gains and
losses
Movement
in funds
Unregtrieted funds
General fund
1,323,292
(510,522)
82.082
894,852
Restricted fullds
Church planting fiEnd
(10.000)
(10.000)
TOTAL FUNDS
1,323,292
(520.522)
82,082
884,852
Compar8tives for movement in fvnds
Net
Enovement
fi￿dS
At
31.12.22
At 1.1.22
Unrestrieted funds
General fimd
9.587.449
(21.270)
9,566.179
Restricted funds
Church planting fund
188,383
(10.000)
178.383
TOTAL FUNDS
9,775,832
{31,270}
9.744.562
Page21
continued..

Gospel Support and Homes Trust Limited
Notey to the Financial Statements- continued
for the Year Ended 31 Deceu]ber 2023
19.
MOVEMENT IN FUNDS- eolltinued
Comparntive net m0Ven￿nt in funds, included in the above are as follows:
Incoming
resources
Resources
expettded
Gains and
losses
Movement
in funds
Unrestricted funds
General fimd
774,392
(455,974)
(339,688)
(21.270)
Restrieted funds
Church planting fund
{io,000)
(10.000)
TOTAL VUNDS
774,392
(465,974)
(339,688)
(31,270)
A cu￿ent year 12 months and prior year 12 months combined position is as follows:
Net
movement
in funds
At
31.12.23
At 1.1.22
Unrestricted fund$
General fimd
9,587,449
873.582
10,461,031
Restricted funds
Church planting fund
188.383
(20,000)
168.383
TOTAL FUNDS
9.775,832
853,582
10,629.414
A cutrcnt y¢ar 12 month8 and prior y¢ar 12 months combined net movement in funds, included in the above are
as follows..
Incoming
resources
Resources
expended
Movement
in fund5
losses
Unrestricted ￿lld$
General fimd
2.097.684
(966,496)
(257.606)
873,582
Restricted funds
Church planting fi￿d
(20.000)
(20.000)
TOTAL FUNDS
2.097.684
(986.496)
(257,606)
853.582
Page 22
continued...

Gospel Support and Homes Trust Llmited
Ntsto¥ to tbe Finallcial Statsmellts - conti￿lled
for the Year Ended 31 December 2023
20.
RESTIUCTKD FUIYDS
The income fillids of the charity include restricted fi]1￿ comwising the following unexpended balances of
donatioJ)s and ￿ held on trust for spccific Purposes:
Balance at
31
December
2023
Balancc at
l January
2023
IDCOmiDg
resources
Resources
expended
Church Planting fimd
178,383
(10,000)
168,383
Church Plantin fimd
The fund was created to support the Tefirt>ishm¢nt of churches and the planting of new churches. Refilrbishment
work on three churches h&5 cotDpleted and ihe balance of ￿OnIES received is being held as a
chutch-plantlng fund, to fiu)d fiJrtheT ministy.
21.
RELATED PARTY DISCLOSURES
There were no related paty transactions for the year ended 31 December 2023.
22.
EVENTS SINCE THE END OF THE YEAR
Subsequent to the reporting date the Charity has agreed to provid¢ an equity loan for £130.000 to help a cEwity
to Purchase a house for ministry ￿*e. This money will ¢ome out of the Restricted Fund when the house purclwe
eventually completes: which is expected to occw in June 2024.
Page 23