REGISTERED COMPANY NUMBER: 04289891 (Englxnd and WAles)
REGISTERED CHARITY NUMBER: 1089919
Report of the Trustees and
Audited Financial Statements
for the Year Ended 31 December 2024
for
Gospel Support and Homes Trust Limited

Gospel Support and Homes Trust Limited
Contents of the Financi91 Statemenls
for the Year Ended 31 December 2024
Page
Reference and Administrative DetAils
Report of the Trustees
Report of the Independent Auditors
Statement of Finaneial Activities
10
Statement of Financial Position
Statement of Cash Flows
12
Notes to the Statement of Cash Flows
13
Notes to the Financial Statements
14 to 24
Detailed Statement of Financial Activities
25 to 26

Gospel Support and Homes Trusl Limited
Reference and Administrative Detgils
for the Year Ended 31 Decen]ber 2024
TRIISTEES
Mrs M Beckham
Mr C H W Elgood
MrAFJNeden
Mr B W O'Donoghue (resigned 21.3.2025)
Ms J Maggs
MSER Weil
Mr G P R Kay (appointed 17.6.2024)
COMPANY SECRETARY
Mrs K Moody
REGISTERED OFFICE
114 Queen Victoria Street
London
EC4V 4BJ
REGISTERED COMPANY
NUMBER
04289891 (England and Wales)
REGISTERED CHARITY
NUMBER
1089919
AUDII'ORS
Garside and Co. Limited
Chartercd Accountant & Statutory Auditor
Suite 631, Linen Hall
162-168 Regent Street
London
WIB 5TG
BANKERS
Lloyds TSB Bank plc
39 Threadneedle Str¢et
London
EC2R 8AU
Kingdom Bank
Media House
Padge Road
Beeston
Nottingham
NG9 2RS
INVESTMENT MANAGERS
London Wall Partners LLP
Salisbury House
London Wall
London
EC2M 5QQ
CCLA Investment Management Limited
One Angel Lane
Londo
EC4R 3AB
Page I

Gospel Support and Homes Trusl Limited
Report of the Trustees
for the YeAr Ended 31 December 2024
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report witli
the financial statements of the charity for the year ended 31 December 2024. Tlie trustees have adopted the provisioiis of
Accounting and Reporting by Charities.. Sialement of Recommended Practice applicable to charities preparing their
accounts in accordance with tlie Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)
(effective l January 2019}.
OBJECTIVF.S AND ACTIVITIES
Objeetives and aims
The prin¢ipal activity and objectives of the Trust are to provide support for Christian ministry in London. This is carried
out by providing accommodation for Church ministers and workers, and by grant making appropriate to its charitable
aims.
Achievements and performance
During the year the Trust continued to hold and maintain properties - both owied and leased to facilitate the Christian
gospel Ininistry of individuals. The Trust's London property portfolio coi)sists of 12 properties which provide
accommodation for 23 Cliristian workers. It also owns one otTice building which provides otTi¢e space for 26 Christian
workers. In the past twelve months, additional vacant space, within the office building, has been Lised by a nearby church
as space for their Sunday School.
The Trust purcha8ed a property in 2022, with the aim to convert into a number of flats to provide affordable
acconimodation for Church workers. The planning process has been more protracted than originally envisaged and a
development team are currently workiiig on a revised scheme that addresses initial feedback received in a pre-app
consultation witli the local authority. Tlie development team liave extensive experience working on similar projects and
consists of development adviser, planners, arcliitects and a nuinber of other coiisultanls. It is envisagcd that a revised
application will shortly be submitted to the local aulliority.
The Iriist was grdteful to receive a property as part donation and part interest free loan in October 2024. This was valued
at £360,000 and will be used to further the mission of the trust.
Public benefit
Wh¢1) planiiing our activitl¢s for the year, tlit trust¢¢s have considered the Charity Commissioii's guidanG¢ on public
benefit and, in particular, the specific guidance on charities for the advancen)ent of religion. It is their view that
Christian miiiistry which aims to sliare ihe 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 perfonned by
trustees.
STIL4TEGIC REPORT
Financial review
The Trust continues its charitable work supporting the Christian Inir)istry in London, where unrestricted fund donations
received in 2024 M'ere £752,393 (2023.. £662,643).
Duriiig the year ended 31 December 2024 the Trust made grants of £5,000 (2023.. £10,000).
For the year ended 31 December 2024 the Trust r¢turned a net surplus of £909,302 (£24,450 higher than in 2023),
principally as a result of increased unrealised gains on investment. This in¢reased reserves by £909,302 (2023.. an
increase of £884,852) and year end total reserves have increased to £11,538,717 {2023.. £10,629,415).
Principal assets are properties held for our ¢haritable purposes at ci)st of £7,461,558 (2023.. £7,091,656) and
investments at bid market value £1,810,865 (2023.. £1,691,894).
Page 2

Gospel Support and Homes Trust Limited
Report of the Trustees
for the Year Ended 31 Deeember 2024
STRATEGIC REPORT
Financial review
Principal sources of income and expenditure
The principal sources of income to the Trust are..
donations received-
interest on tlie cash balances held-
income from investments.
rental incoine is received in relation to properties held - typically costs of renting or owiing properties are recharged to
the ministries wliich use tlie properties, with tlie bciicfit of using the Trust bcing the abilily to make long term lease or
ownership commitments.
The greater part of the expenditure relates to Ihe properties, ¢itl)er rents paid to I￿]d10rds, or maiiitenance expenditure
on the owned and leased properties. The Trust supported some ministry workers during the start-up phase for the church
plants.
Additionally, there are administration costs, principally the Cost of two part time employees who oversee the properties
and finances. There is sonie additional a¢¢ountancy and legal and professional siipport.
Reserves And Investment Policy
It is the policy of the Trust that unrestricted funds which have not been designated for a specific use should be
maintained at a level equivalent to between three and six months, expenditure, in addition to that set out below. The
trustees consider tliat reserves at (Iiis level will ensure that, in tlie event of a significant drop in funding, they will be able
to continue the Trust's curreiit aclivities while consideration is given to M'ays in which additional fuiids may be raised.
This level of reserves has been Inaintained tlirougliout tl)e year.
It is the policy of the charity to niainlain its reserves in order to:
meet the day-to-day operating requirements of the charity,.
me¢t the on-going obligations in respect of rented property-
fund the holding of residciitial properties used by individuals cmployed in ministry and the maintenance and repair of
sucli properties;
fund the redevelopmei)t of property acquired for the purpose of providing future accommodation for individuals
involved in ministry.
nd expansions of iniiiistry, currently anticipated bul not yet committed
fund short terni loans to iiiitiatives wliicli support the objects of the charity-
Where the Trust has res¢rves which are not needed in th¢ short term, or whei'e they ar¢ sel aside to give confidence to
the trustees when making medium and longer term lease cominilments, the Ti'usl's policy is to invest amounts surplus to
immediate cash flow requirements. Funds sutylus to immediate requirements are invested through a professional fund
adviser with an objective of enhancing their value over time. London Wall Partners LLP, who were appointed in June
2020. now advise on the manageinenl of these invested funds and on appropriate separate custodians, asset allocation
id separate Commingled fuiids, uiider one or more fund managers with expertise in each of thc separate asset classes.
Whilst thcrc is no tornial social investmei)t policy restricting invcstments in specific industries or companies, the
invcslments are made tlirough inaiiagers or with advice from those who are in sympathy witli the objectives of the trust.
The investment policy is reviewed fonnally each year. Our aim is to accrete value over the longer tem by selecting
managers and advisers who have a proven track record of long-term accurnulation of value over and above iiiflation.
GOING CONCERN
The Trustees consider there are no material uncertainties about the charitable Company's ability to continue as a going
concern. The review of ihe financial position, resetve levels and future plans gives Trustees confidence the charitable
Coinpany remains a going concern for the foreseeable future.
Page 3

Gospel Support and Homes Trust Limited
Report of the Trustees
for the Year Ended 31 Deeember 2024
STRUCTURE, GOVERNANCE 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 Arli¢les of Association updated in 2023 It is registered in England {company number
04289891 } and it is a registered Charity (charity number 1089919). Under the terms of tl)e Memorandum of Association
should the conipany b¢ wound up and in the event of a deficiency of assets, every membcr undertakes to contribute not
more than £1 for the payment of the company's liabilities.
The trustees. who are also the directors for the purpose 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 (resigned 21.3.2025)
MsERWeil
Mr G Kay (appointed 17.6.2024)
Recruitment and appointment of new trustees
New trustees are recruited from the pool of individuals who are commitled to the objects of the trust but have a range of
diverse experience including professional skills in finance, in property management and in administration. New trustees
are appoiiiled by the ¢urreiit trustees. Spe¢ifi¢ professional advice is sought from legal and accounting advisers where
the trustees identify that further expert input is required.
Organisational structure
The Board meets on a quarterly basis to review the financial position of the Trust and the property assets held. Day to
day administration of the finances and the properties is handled by the administrator and by the property manager, with
input as reqiiired from individiial trustees. Given the natui'e of the Trust's SLlPPOrt for other ministries the only voluntary
work for the Trust is performed by triistees.
The Board works to ensure compliance wilh ils legal duties to:
Act in the iiiterests of the charity
Protect aiid safeguard the assets of the charity
Act with reasonable care and skill
Ensure the charity is accountable
Applications for employmcnt by disabled persoiis are always fully considcrcd, bearing in mind the aptiludes of the
applicant concerned. In the event of members of staff becoming disabled. every effort is made lo ensure that their
employment wiihin the Trust continues and that the appropriate training is arranged. It is the policy of ihe Trust that the
training, career development atid promotion of disabled persons should, as far as possible, be identical to that of other
employees.
Related partie5
Details of rel&ted parties, where the trustees have responsibility for other charities which have dealings witl) Gospel
Support and Homes Trust Limited. are set out in thc notes to the accounts, wherc applicable.
Risk management
The trustees have a duty lo identify and review the risks to which the charity is exposed and to ensure appropriate
controls are in place to provide reasonable assurance against fraud and error.
The Board has reviewed the major risks and is satisfied that all possible precaiitions hav¢ been taken to minimise them.
Internal systems and procedures are in place to control all financial transactions and ensure the Trust's activities comply
with all appli¢able regulations.
EVENTS SINCE THE END OF THE YEAR
Information relating to events since tlic end of the year is given in the notes to the financial statements.
Page 4

Gospel Support and Homes Trust Limited
Report of the Trustees
for the YeAr Ended 31 December 2024
STATEMENT OF TRUSTEES, RESPONSIBILITIES
The trustees (who are also ihe directors of Gospel Support and Homes Trust Limited for the purposes of company law)
are responsible for preparing the Report of tlie Trustees and the Iinancial statements in accordance with applicable law
and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financirAI stfAtements for each financial year which give a true and fair view
of the state of affairs of tlie charitable company and of ihe incoming resources and appliration of resources, including
the income and expenditure. of the charitable company for that period. In preparing thos¢ financial statements, the
truslees are required to
select suit7Able accounting policies and then apply them consistently-
observe the methods and principles in the Charity SORP-
make judgements aiid estimates Iliat are r¢asonable and prudeijt.
state whetl)er applicable accounting standards have beeii followed, subject to any material departures disclosed and
explained in tlie financial statements;
prepare the financial stAtements on the going concern basis unless it is inappropriale to presume that the charitable
company will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy al any time
the financial position of Ilie cliaritable company and to enable them to ensure that the financial statements comply with
the Companies Act 2006. They are also responsible for safeguarding Ilie assets of the cliaritable company and heiice for
taking reasonable steps for the preventioii and detectioii of fraud and other irregularities.
STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the Irustees are aware, tlierc is iio rel¢vaiit information (as defiiied by Section 418 of the Companies Act 2006)
of which tlie charitable company's auditors are unaware, and eacli trustee has taken all Il)e steps that they ought to have
taken as a trustee in order to make them aware of any audit infoi'mation and io establish that the charitable company's
auditors are aware of that inforniation.
AUDII"ORS
In accordan¢e with the comparEy'S articles, a resolution proposing that Garside and Co. Limited be reappointed as
auditor of the company will be put at a General Meeting.
Report of the trustees. incorporating a strategic report, approved by order of the board of trustees, as the company
directors, on
' OI/OT125
and signed on the board's belialf by..
Mr A F J Neden - Trustee
Page 5

Report of the Independent Auditors to the Members of
Gospel Support and Homes Trust Limited
Opinion
We have audited thc finanGial statements of Gospel Support and Homes Trust Limit¢d (the 'charitabl¢ coinpany,) for the
year cnded 31 D¢¢ember 2024 which comprise the Statcnieiit of Finan¢ial A¢livilies, tlie Statement of Financial
Position, the Statement ot. Cash Flows and Iiotes to tlie finaiicial statements, including a summary of significant
accounting policies. The financial reporting framework that has been applied in their preparation is applicable laiv and
United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements..
give a tru¢ 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 witli United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance wilh the requiremenls of the Companies Act 2006.
BASIS for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAS (UK)} and applicable law.
Our responsibilities under those standards are further described in the Auditors, responsibilities for the #udit of the
financial statements section of our report. We are independent of the charitable company in accordance with the etliical
requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethi¢al Standard,
and we have fulfilled our other ethical responsibilities in accordance with these reqiiirements. We believe that the audit
evidence we have obtained is sufficienl and appropriate lo provide a basis for our opinion.
Conclusions relgting to going concern
In auditing tlie financial statements, we have conoluded that th¢ 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, iiidividually or c4)Ileclively, may cast significant doubt on the charitable company's ability to contiiiue as a going
concem for a period of at least twelve monilis from when the financial slalements are authorised for issuc.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant
sections of this report.
Other inforn)ation
The trustees are responsible for the other inforniation. The odier infornlation comprises the infomiation included in the
Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise
explicitly slated in our report, we do not express arhy forni of assurance conclusion thereon.
In connection wilh our audit of the finan¢ial statements, oiir responsibility is lo read the other information and, in doing
so, consider whether the other information is materially inconsistent with the financial statements or oiir knowledge
obiained in tlie audit or otherwise appears to be materially misstated. If we identify such inaterial 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 a material
misstalemenl of this otl)er inforniation, we are required to report that fact. We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of ihe audit..
the information given in the Report of the Trustees for the financial year for which the financial statements are
prepared is consistent with the financial ststements; and
the Report of the Trustees has been prepared in accordance with applicable legal requir¢ments.
Page 6

Report of the Independent Auditors to the Members of
Gospel Support and Homes Trust Limited
M8tt¢rs on which we Are required to report by exception
In the liglit of the knowledge and understanding of the cliaritable company and its environment obtained in the ¢ourse of
the audiL we have not idcntificd matcrial misstatcincnts in the Report of the Trustees.
We have nothing to report in respect of tlie following matters where Éhc Coinpanics Act 2006 rcquircs us to report to you
if, iii our opiiiion=
adequale accounting records have not been kept or return5 adequate for our audit have not been received from
branches nol visited by us- or
the financial statements are not in agreement with thc accounting records and returns; or
ccrtain disclosures of trustees, reinuneration specified by law are not made. or
we have not received all the information and explanatioiis we rcquire for our audit.
Responsibilities of trustees
As explained more fully in the Statement of Trustees, Responsibilities, the Iruslees (who are also the directors of the
cliaritable compaiiy for the purposes of company law) are responsible for Ilie pr¢pMration of Ilie finat)¢ial statements aiid
for beiiig satisfied that tliey give a true and fair view, and for sucli interiial control as the trustees determine is necessary
to enable the preparation of financial statements that are free from material misstatement, whether due lo fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to
continue as a going Concern, dis¢losing, as applicable. mattcrs related lo going ¢on¢¢rn and using the going coiiccrn
basis of accounting unless the trustees either iiiteiid to liquidate thc charitable company or lo cease operations. or havc
no realistic alternalive bul to do so.
Page 7

Report of the Independent Auditors to the Members of
Gospel Suppor¢ and Homes Trust Limited
Our responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whetlier the financial stateinents as a whole are free from
material misstatement, whether due to fraud or ¢rror, and to issu¢ a Report of the Independent Auditors tliat i¥Jcludcs our
opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance
with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error
and are considered materi21 if. individually or in the aggregate, they could reasoiiably be expected to influence the
economic decisions of users taken on the basis of these financial statements.
The extent to which our procedures are capable of detecting irregularities, inclliding fraud is detailed below-.
Identi
in
and res
ondin
lo risks of material misslatement due to fraud
As required by auditing standards, and taking into account possible pressures to meet profit targets and our overall
ki)owledge of the control environment, we performed proccdurcs tu address the risks of manageinenl override of
controls and the risk uf fraudulent revenue re¢ognitioJ], Ihe risk Ihal those in chargc with management may be in a
position to make inappropriate accountiiig cntrie5 and the risk of bia5 in accounting estimates and judgements such a5
the valuation of fixed assets and financial instruments and depreciation policies.
To identify risks of material misstatement due to fraud {"fraud risks") we assessed events or conditions that coiild
indicate an incentive or pressure to commit fraud or provide an opportunity to commit fraud. We communicated
identified fraud risks throughout the audit team And remained alert to any indications of fraiid tlirougliout the audit.
Our risk assessiTJent procedures included..
Enquiring of those charged with management and iiispection of key papers as to the policies and procedures to prevent
and detect fraud. including the proce55 for engaging management to identify fraud risks specific to the entity's sector, as
well as wl)etlier they have knowledge of any actual, suspected, or alleged fraud.
Reviewing minutes of trustees, meetings.
Consid¢ring managemcnt's incentives and opportunities for fraudulent m￿lpUlatIon of the financial stalements.
Assessing significant accounting estimates for bias; and
Auditing the risk of manageinent override of controls, including through tcsting journal entries and other adjustmcnts
for appropriateness, and evaluating tlie business rationale of significant transactions outside tlie normal course of
business.
Identi
in
and res
ondin
to risks of malerikil misstatement due to i)on-coin
liinee with laws and re
ulations
We considered the extent to which non-compliance might have a material effect on the financial statements. We also
considered those laws and regulations Iliat have a direct impact on tlie financial statements such as the Compantes Act
2006 and the Charities Statement of Reconiinended Practice (SORPS) FRS 102.
The entity is subject to laws and regulations that directly affe¢t the financial slatements including financial reporting
legislation, taxation legislation (payroll taxes), and pension legislation and we assessed the extenl of compliance with
these laws and regulations ￿ part of our procedures on the related financial statements ileins.
As the entity is regulated, our assessment of risks involved gaining an understanding of the conlrol environment
including the entity's procedurc5 for complying with regulalory requirements. We cominunicated identified laws and
regulalions throughout our team and remained alert to any indications of non-compliance throughout the audit.
Our procedures included=
Discussion with those in charge with management, and from inspection of the eiltity's rcgulatory and legal
correspondence;
Discussion with those charged with management the policies and procediires regarding compliance with laws and
regulations.
Reviewing financial statcment disclosures and testing to supporting documenlation to assess Compliance with
applicable laws and regulatioi)s' and
Enquiry of management, those charged with goveniance around actual and potential litigation and claims.
A further description of our respoiisibilities for the audil of the financial statements is located on the Financial Reporting
Council's website at www.fr¢.org.uldauditorsrcsponsibililies. This description forms part of our Report of the
Independent Auditors.
Page 8

Report of the Independent Auditors to the Members of
Gospel Support and Homes Trust Limited
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 of
tlie Coiiipaiiies Act 2006. Our audit work lias becn uiidcrtakeii so Iliat wc might statc to thc charitablc Gompajiy's
meiiibers tliose matters we are required to slate to them in an auditors, report and for i)0 other purpose. To Ilie fullest
exlenl permitled by law, we do not accept or assume responsibility to anyon¢ other than the charitable company and the
cliaritsble company's members as A body, for our audit work, for Iliis report, or for the opinions we have fonned.
eth Owe
s Bsc ACA (Senior Statutory Auditor)
for ￿]d on b
of Garside and Co. Limited
Chartered Accountant & sta￿tOry Auditor
Suite 631, Linen Hall
162-168 Regent Street
London
WIB 5TG
Date..
Page 9

Gospel Support and Homes Trust Limited
Statement of Financial Activities
for the Year Ended 31 Deeember 2024
2024
Total
funds
2023
Total
funds
Unrestricted
fund
Restricted
fund
Notes
INCOME AND ENDOWMEwfs FROM
Donations and legacies
752,393
752,393
662.643
Other trading activities
Investment income
Oiher income
518,257
41,848
30
518,257
41,848
30
471,J41
23.079
166,229
Total
1,312,528
1,312,528
1,323,292
EXPENDITURE ON
Raising funds
Costs of o¢rkerating funds
8.371
8,371
9,011
9,011
Charitable gctivities
Charitable activities
508,872
5,000
513,872
511,511
Total
517,243
5,000
522.243
520,522
Net gains on investments
119,017
119,017
82,082
NET INCOME/(EXPENDITURE)
914,)02
{5,000)
909,J02
884,852
RECONCILIATION OF FUNDS
Total fuiids brought forward
10,461,032
168,383
10,629,415
9,744,563
TOTAL FUNDS CARRIED FORWARD
11,375,334
163,383
11,538,717
10,629,415
The notes form part of these financial statements
Page 10

Gospel Support and Homes Trust Limited
Statement of Financial Position
31 Deeember 2024
2024
Total
funds
2023
Total
nds
Unrestri¢ted
fund
Restricted
fund
Notes
FIXED ASSETS
Taiigiblc &ssets
Investments
14
15
7,862,184
1,810,865
7,862,184
1,810,865
7,536,134
1,691,894
9,673,049
9.673,049
9,228,028
CURREN'f ASSETS
Debtors
Cash at bank and in hand
16
78,743
1,847,377
130,000
33,383
208,743
1,880,760
90,844
1,344,472
1,926,120
163,383
2.089,503
1,435,316
CREDITORS
Amounts falling due within one year
17
(63,835)
(63,835)
(33,929)
NET CURRENT ASSETS
1,862,285
163,383
2,025,668
1,401,387
TOTAL ASSETS LESS CURRENT
LIABILITIES
11,535,334
163.383
11,698.717
10,629,415
CREDITORS
Amouiils falling due after more than one year
18
(160,000)
(160,000)
NET ASSETS
11,375,J34
163,J83
11,538,717
10.629,415
FUNDS
Unrestricted funds
Restricted funds
21
11,375,334
163,383
10,461,032
168,383
TOTAL FUNDS
11,538,717
10,629,415
The financial statements were approved by the Board of Trustees and authorised for issue
on
01107125
and were signed on its behalf by..
Mr A F J Ncdcn - Truslee
The notes form part ofthese financial statements
Pagell

Gospel Support and Homes Trust Limited
Statement of Cash Flows
for the Year Ended 31 Deeember 2024
2024
2023
Notes
Cash flows from operating activities
Cash generated froin operations
505.595
419,393
Net cash provided by operating activities
505,595
419,393
Cash flows from investing #ctivities
Purchase of tangible fixed assets
Purchase of fixed asset investments
Sale of tangible fixed assets
Investment income
(171,201)
46
(25,703)
(14,312)
416,401
23,079
41,848
Net cash (used in)/provided by investing activities
{129,307)
399,465
Cash flows from finAncing activities
Interest free loan
160,000
Net cash provided by financing activities
160,000
Change in cash cash equivalents in
the reporting period
Cash And cash equivalents At the
beginning of the reporting period
536,288
818,858
1,344,472
525,614
Cash and eash equivalents at the end of
the reporting perlod
1,880,760
1,344,472
The notes fonn part of these financial statements
Page 12

Gospel Support and Homes Trust Limited
Notes to the Statement of Cash Flows
for the Year Ended 31 Deeember 2024
RECONCILIATION OF NET INCOME TO fiET CASH FLOW FROM OPERATING AcfiviTIES
2024
2023
Iyet ineome for the reporting period (as per the Statement of Financial
Activities)
Adjustments for:
Depreciation charges
Gain on investments
Profit on disposal of fixed assets
Inveslinent income recognised in SOFA
Other interest received
Gift of property
(Iiicrease)/decrease in debtors
Increase/(decrease) in creditors
909,302
884,852
45,151
(119,017)
53,577
(82,082)
(159,354)
(15,482)
(7,597)
()6,528)
(5.230}
(200,000)
(117,899}
29,816
38,564
(293,085}
Net Cash provided by operAtions
505,595
419,393
AP4ALYSIS OF CHANGES IN NET FUP4DS
At 1.1.24
Cash flow
At31.12.24
Net eash
Cash at bank and in hand
1.344,472
536,288
1,880,760
1,344,472
536,288
,880,760
Debt
Debts falling due after l year
{160,000}
(160,000)
(160,000)
(160,000)
Total
1,344,472
376,288
1,720,760
The notes form part of tliese financial st2temen(s
Page 13

Gospel Support and Homes Trust Limited
Notes to the Financial Statements
for the Year Ended 31 December 2024
CHARITY INFORMATION
Gospel Support and Homes Trust Limited is a private company limited by guarantee incorporated in England
and Wales (company number 04289891 }. Tlie registered office address is 114 Quecii Victoria Street, London,
EC4V 4BJ.
ACCOUNTING POLICIES
Basis of preparing the financial slatements
Tlic financial statements of the cliaritable company, which is a public benefit entity under FRS 102, have been
prepared in accord￿¢¢ with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities.. Statement
of Recommeiided Practice applicabl¢ to charitics preparing their accounts in accordaiicc with thc Financial
Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effectivc l January 2019}'.
Financial Reportiiig Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of
Ireland, and the Companies Act 2006. The financial statements liave been prepared under the historical cost
convention, with the exception of investments which are included at market value, as modified by the revaluation
of certain assets.
Gospel Support and Homes Trust Limited meets the definition of a public benefit entity under FRS 102.
The financial statements are prepared in sterling (£), which is the functional currency of the Trust. Monetary
amounts in these financial slatemenls are rounded to the nearest £.
Legal status of the Trust
Gospel Support and Homes Trust Limited is a compaiiy limited by guarantee. Thc members of the company are
the trustees named on page l. Under tlie tenns of the Memorandum of Association should the comp&ny 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.
Going concern
At the lime of approving the financial statements, the trustees have a reasonable expectation that the Trust has
adequate resources to continue in operational existence for the foreseeable future. Thus tlie trustees continue to
adopl the going conceni basis of accounting in preparing the financial statements.
Incoming resources
Income is recognised wlien the Trusl is legally entitled to it after any performance conditions have been met, the
amouiits can be measured reliably, and it is probable tl)at income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the Trust has bcen notified of the
donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to
donations received under Gift Aid or deeds of covenant Is recognised al the time of the donation.
Legacies are recognised on receipt or otheNise if the Trust has been notified of an impending distribution, the
amount is known, atid receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
Resources expended
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the
charity to that expenditure, it is probable that settlement will be required and the amount of the obligation can be
measLired reliably.
All expenditure is accounted for on an accruals basis. All expenses including support costs and governance costs
are allocated or apportioned to tlie applicable expenditure headings.
Irrecoverable VAT is charged against the expenditure heading for which it was incurred.
Grants payable and donations made are accounted for when paÉd or awarded Mnd a binding obligation is created.
Page 14
continued...

Gospel Support And Homes Trust Limited
Notes to the Financial StAtements - continued
for the YeAr Ended 31 December 2024
ACCOUNTING POLICIES- continued
Tangible fixed Assets
Tangible fixed assets are inilially measured at costs and subsequenily nieasured at cost or valuation, net of
depreciation and any provision for impairnient.
Depreciation is recognised so as to write off the cost or valuation Itss estimated residual values of all fixed assets
over their expected useful lives. It is calculated at the following rates-.
Leasehold land and buildings
Over tlie life of the lease on a reducing balance basis
Fixtures, Fittings and Equipment 3 to 50 years on a straight line basis
Assets within the residual properties are treated as having the shoner usethl life of 3 years, and the assets arising
from the refurbishment of Ilie freehold offices at st Michael's Rectory are Ireated as having a l O or 50 year life,
depending on the trustees, estimate of tl)e time until the next requirement refurbisl)ment.
The gain or loss arising on the disposal of an asset is deterniined as the difference between the sale proceeds and
the carrying value of the asset, and it is recognised in net in¢omel(expenditure) for the year.
The freehold properties are a resource for the use of the charity, but provisions are made to reduce sucli
properties to estimated open market values as and when considered appropriate. These assets are ¢urrently
shown iii tlie balance sheet al historic cost and the trustees consider their overall market value to be greater tlian
the value at whi¢h they are shown in the financial statements.
Fixed assets investments
Fixed asset investmenls are a form of basic finaiicial instrument ai)d are initially recognised at transaction price
excluding transaction costs. and are subscqucntly measured at fair value at each reporling date using the closing
bid markct price. l-he stalement of financial activities iricludes the net gains and losscs arising on revaluation and
disposals throughout ihe year. Transaction costs are expensed as incurred.
The main form of risk faced by the Charity is that of volatility in equity markets and investment markets due to
wider econoinic conditioiis, the attitude of investors to investment risk. and changes in sentiment concerning
equities and within particular sectors or sub-sectors.
All gains and losses are taken to the Stateinent of Financial Activitie5 as Iliey arise. Realised gains and losses on
investments are calculated as tlie difference between sales proceeds and tlieir opeiiing catTying value or their
purchase value if acquired subsequent to the first day of the financial year.
Unrealised gains and losses are calculated as the difference between the fair value at the year end and their
carrying value. Realised and unrealised investment gains and losses are combined in the Stalement of Financial
Activities.
Charitable funds
Unrestricted funds
Unrestricted fuiids are available for use al the discretion of the trustees in furtherance of the general objectives of
the charity.
The revaluation reserve includes the accumulated unreaSised pn)fits and losses of investments.
Restricted funds
Restricted funds coinpris¢ funds to be used only in accordance with the wishes of the donor(s). or in ac¢ordance
with the terms of a Charity Commission Sclieme. Donations not yet expended are carried forward until utilised
for the purpose for which they havc bcen given.
Cash and cash equivalents
c.ash and cash equivaleiits in¢lude cash in hand, dcposils held at call with banks, other short-term liquid
investments with original maturities of three montlis or less, and bank overdrafts. Bank overdrafts are shown
within boi'rowings in current liabilities.
Page 15
coiitinued...

Gospel Support and Homes Trust Limited
Notes to Éhe Financial Statements - continued
for the YeAr Ended 3] December 2024
ACCOUNT1Tr4G POLICIES- continued
Pen5jOll Cotitributions
Contributions payablc to thc charitablc Lompany's pension scheme are charged lo the Statement of Financial
Activities in the period to which Iliey relate.
Employee benefits
The cost of any iinused holiday entitlement is recognised in ihe period in which the employee's services are
received.
Termination benefits are recognised immediately as an expense when the charitable company is demonstrably
committed to terminate the employment of an employee or to provide termination benefits.
Value added tax
Value added tax is not recoverable by the company, and as such is included in the relevant ¢osts in the Statement
of Financial Activities.
DONATIONS AND LEGACIES
31.12.24
Total
funds
31.12.23
Total
funds
Unrestricted
funds
Restricted
funds
Donations, gifts and legacies
Gift aid
688,869
63,524
688,869
63,524
530,998
131,645
752,393
752,393
662.643
Included within Donations, gifts and legacies is an amount of £200.000 in respect of a gifted property (see Note
14 also).
OTHER TRADING ACTIVITIES
31.12.24
Total
funds
31.12.23
Total
funds
Unrestri¢t¢d
funds
Restricted
funds
Rental income
Iiisurance iiicome
Dilapidation income
515,368
2,889
515,368
2.889
436,284
2,347
32,710
518,257
518,257
471,341
Page 16
continued...

Gospel Support Homes Trust Liffliied
Notes to the Financial Statements - continued
for the Year Ended 31 Deeember 2024
INVESTMENT INCOME
2024
Tolal
funds
2023
Total
funds
Unrestricted
funds
Restricted
funds
Income from listed investments
Interest receivable
36,528
36,528
5,320
15,482
7,597
41,848
41,848
23,079
OTHER INCOME
2024
Total
funds
2023
Total
funds
Unrestricted
nds
Restricted
fi]nds
Gain on sale of tangible fixed assets
Sundry incoine
159,354
6,875
30
30
30
30
166.229
COSTS OF GENERATING FUNDS
2024
Total
funds
2023
Total
fund5
Unrestricted
fi]nds
Restricted
funds
Investment management and transaction
fees
8,371
8.371
9,011
CHARITABLE ACTIVITIES COSTS
Grant
funding of
activities
(ste note
Direct
Costs (see
note 9)
10)
Totals
Charitable activities
508,872
5,000
513,872
Page 17
continued...

Gospel Support and Homes Trust Litnited
Iyotes lo the Financial Statements - eontinued
for the Year Ended 3J December 2024
DIRECT COSTS OF CHARITABLE ACTIVITIES
2024
2023
Staff costs
Rent
Rates
Insurance - various
Insurance - general
Repairs and maintenance
Legal and professional
Auditor's remuneration
Other office expenses
Bank ¢harges and interest paid
Trustee meeting expeiises
Depreciation
34,800
253,109
17,898
9,250
8,138
107,858
23,215
6,000
2,044
174
1,235
45,151
34,241
251,915
58,866
9,733
8,446
60,783
15.033
6,800
1,887
230
53.577
508,872
501,511
Governance Costs
Governance costs included in Direct cosls above were incurred during the year ended 31 December 2024..
31.12.24
31.12.23
Auditor's remuneration
Accountancy fccs
Leoal and professional fees
Truslcc Incclings
6,800
3,000
12,033
1,235
6,800
3,000
12,033
30,449
21,833
io.
GRANTS PAYABLE
2024
2023
Charitable activities
5,000
10,000
ii.
NET INCOMEI(EXPENDITURE)
Net in¢omel(expenditure) is Stated after chargingl(crediting)'.
2024
Depreciation - owned assets
Rent
sU￿[us on disposal of fixed assets
45,151
253,109
53,577
251,915
{159,354)
Page 18
continued...

Gipspel Support and Hon)es Trust Limited
Notes to the Financial Statements - continued
for the Year Ended 3] December 2024
12.
TRUSTEES, REMUNERAT10Tr4 AND BENEFITS
During the year ended 31 December 2024 no twstees received remuneration for work performed on behalf of the
trust (2023: £Nil).
Trustees, expenses
There were no trustees, expenses paid for the year ended 31 Deceillber 2024 nor for the year ended 31 December
2023. The fees paid for trustees ineetings (see Note 9) were not a reimbursement to the trustees.
13.
STAFF COSTS
2024
2023
Wages and salaries
Other pension costs
31,200
3,600
30,641
3,600
34,800
34,241
The average monthly nuinber of einployees during the year was as follows..
2024
2023
Managemeiit and administration
No employees received emoluments in excess of £60,000.
14.
TANGIBLE FIXED ASSETS
Fixtures,
firting5
& equipment
Land and
buildings
Totals
COST
At l January 2024
Additions
Donation
7,091,656
169,902
200,000
1,119,709
1,299
8,211,365
171,201
200,000
At 31 December 2024
7,461,558
1,121,008
8,582,566
DEPRECIATION
At l January 2024
Charge for year
163,405
511,826
45,150
675.231
45,151
At 31 December 2024
163,406
556,976
720,382
NET BOOK VALUE
At 31 De¢eii)ber 2024
7,298,152
564,032
7,862,184
At 31 December 2023
6,928,251
607,883
7,536,134
The donations figure relates to a property which was given lo the Trust - part donated {see Note 3) 2nd part
interest free long terni loan (see Note 19) in October 2024.
Page 19
continued...

Gospel Support gnd Homes Trust Limited
Notes to the Financial Statements - continued
ror the YeAr Ended 31 Decefftber 2024
15.
FIXED ASSET INVESTMENTS
Listed
investments
MARKET VALUE
At l January 2024
Net Disposals
Revaluations
1,691,894
(46)
119,017
At 31 December 2024
1,810,865
NET BOOK VALUE
At 31 December 2024
1,810,865
Ai 31 December 2023
,691.894
There were no investment assets outside the UK.
Cost or valuation at 31 December 2024 15 represented by..
Listed
investments
Valuation in 2024
1,810,865
Fixed asset investments rcvalued
All investments are carried at their fair value. Investment in equities and fixed interest securilies are all traded in
quoted public markets. primarily the London Stock Exchange. The basis of fair value for quoted investments is
equivalent to the bid market value. Asset sales and purchases are recognised at the date of trade at ¢ost (that is
their transaction value).
The significance of financial instruments to the ongoing financial sustainability of the Trust is considered in the
financial review section of the Trustees, Annual Report.
The Trust manages inveslment risk by retaining exper¢ advisors and operating an investment policy that provides
for a high degree of diversification of holdings within investment Glasses that are quoted on recognised stock
exchanges.
Page 20
continued...

Gospel Suppor¢ and Homes Trust Limited
Notes to the Finantial SIAtements - eoThtinued
for the YeAr Ended 31 December 2024
16.
DEBTORS
31.12.24
Total
funds
31.12.23
Total
funds
Amounts falling due within one year..
Gift Aid receivable
Rent deposits
Prepayments and accrued income
6,809
4,580
45,591
24,496
8,580
36,005
56,980
69,081
31.12.24
Total
funds
31.12.23
Total
funds
Amounts falling due after more than one
year..
Other loans receivable
151,763
21.763
Aggregate amounts
208,743
90,844
Debtors greater than l year include a loan to Mission Housing for £130,000. to provide ac¢ommodation for
Christian minislry (see Note 22).
17.
CREDITORS: AMOUN'fs FALLING DUE WITHIN ONE YEAR
31.12.24
Total
funds
31.12.23
Total
funds
Trade creditors
Reni deposits held
Accruals and deferred income
5,036
5,175
53,624
33,929
63,835
33,929
Page 21
continued...

Gospel Support and Homes Trust Limited
Note5 to the Financial Statements - continued
for the Year Ended 31 December 2024
18.
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THATr4 ONE YEAR
2024
2023
Other loans (see note 19)
160,000
19.
LOANS
An analysis of the maturity of loans is given below..
2024
2023
Amounts falling due in more than five years..
Repayable oilierwise than by instalments-
Interest free loan
160,000
20.
LEASING AGREEMENTS
Minimum lease payinents under non-cancellable operating leases fall due as follows..
2024
2023
Within one year
Between one and five years
266,820
425,230
244,291
36,921
692,050
281,212
21.
MOVEMENT IN FUNDS
Net
movement
in funds
At
31.12.24
At 1.1.24
Unrestricted funds
General fund
10,461,032
914,302
11,375,334
Restricted funds
Chiirch planting fund
168,383
(5,000)
163,383
TOTAL FUNDS
10,629,415
909,302
11,538,717
Net movement in funds, included in the above are as follows..
Incoming
resources
Resources
expended
Gains and
losses
Movement
in fiinds
Unrestrieted funds
General fund
1,312,528
(517,243)
119,017
914,302
Restrieted funds
Church plaiiling fund
(5,000)
(5,000)
TOTAL FUNDS
1,312,528
(522,243)
119,017
909,302
Page 22
continued...

Gospel Support and Homes Trust Limited
Notes to the FinAneial Statements - continued
for the Year Ended 31 December 2024
21.
MOVEMENT IN FUNDS- continued
Compgrgtives Cor movement in funds
Net
movement
in funds
At 1.1.23
31.12.23
Unrestricted fund5
General fund
9,566,180
894,852
10,461,032
Restricted funds
Church planting fund
178,383
(10,000)
168,383
TOTAL FUNDS
9,744,563
884,852
10,629,415
Comparative net movement in funds, included in the above are as follows..
Incoming
resources
Resources
expended
Gains and
losses
Movement
in funds
Unrestricted funds
General fund
.323,292
(510,522)
82,082
894,852
Restricted funds
Church planting fiind
(i 0,000)
(i 0,000)
TOTAL FUNDS
1,323,292
(520.522)
82,082
884,852
A current year 12 months and prior year 12 months combined position is as follows..
Net
movcment
in furhds
At
31.12.24
At 1.1.23
Unrestricted funds
General fund
9,566,180
1,809,154
11,375,334
Restricted funds
Church plaiiting fund
178,383
(15,000)
163,383
TOTAL FUNDS
9,744,563
1,794,154
11,538,717
Page 23
ontinued...

Gospel Support And Homes Trust Limited
Notes to the FinaneiAI Statements - eontinued
for the Ye#r Ended 31 Deeember 2024
21.
MOVEMENT Iri FUNDS- continued
A current STear 12 months and prior year 12 months combined net movement in funds, included in the above are
as follows:
Incoming
resources
Resour¢¢s
expended
Gains and
losses
Movement
in funds
Unrestrieted funds
General fund
2,635,820
(1,027,765)
201.099
1,809,154
Restrieted funds
Church pI￿lting fund
(15,000)
(15,000}
TOTAL PUNDS
2,635,820
(1,042,765)
201,099
1,794,154
22.
RESTRICTED FUNDS
The income funds of the charity include restricted funds comprising the following unexpended balances of
donations and graiits held on Irust for specific purposes:
Balance at
31.01.24
Incoming
resources
Resources
expended
Balance
31.12.24
Chiirch Planting fund
168,J83
(5,000)
163,383
Church Plantin
fund
The fi]nd was created to support the refurbishment of churches and the plaiiting of new Cliurches. Refurbisliment
work on three churches has been ¢omplctcd and the balance of monies received is being held as a
church-planting fund, to fund further ministry.
£1 JO,000 of this fund are eurrently being used to support an equity loan (included within Other loans receivable
-see Note 16) made during the year to help a charity buy a house for ministy purposes.
23.
RELATED PARTY DISCLOSURES
There were no relaled party transactions for thc year ended 31 December 2024.
24.
EVENTS SINCE THE END OF TIIE YEAR
Subscquent to the reporting date the Charity purchased a freehold property in El at a cost of £1, 100,000 which
will house a full lime ministry worker and his family.
The Trust purchased a property in 2022, with the aim to convert into a number of flats to provide alfordable
accommodation for Church workers. A planning application in respect of this property was submilted to the local
authority planning department on 28 May 2025.
Page 24

Gospel Support Homes Trust Limited
Detailed Statement of Financial Activities
for the Year Ended 31 December 2024
2024
Total
funds
2023
Total
funds
Unrcstricted
nds
Restricted
funds
INCOME AND ENDOWMENTS
Donations and legacies
Donation5, gifts and legacies
Gift aid
688,869
63,524
688,869
63,524
530,998
lJl,645
752,393
752,393
662,643
Other trading Activities
Reiital income
Insurance income
Dilapidation income
515,368
2,889
515,368
2,889
436,284
2,347
32,710
518.257
518,257
471,341
Investffl¢nt income
Inconie from listed investments
Iiiterest receivable
36,528
5,320
15,482
7,597
5,320
41,848
41.848
23,079
Other income
Gain on sale of tangible fixed assets
Sundry income
159,354
6,875
30
30
30
30
166,229
Total incoming resources
1,312,528
1,312.528
1.323,292
EXPENDITURE
Costs of generating funds
Investment management and transaction fees
8,371
8,371
9,011
ChAritAble Activilies
Staff Costs
Pension contributions
Rent
Rates
Insurance- various
Insurance- general
Repairs and mainlenaiice
Legal and professional
Auditor's remuneration
Other otrice expenses
Bank charges and interest paid
Trustee ineeting expenses
Carried forward
31,200
3,600
253,109
17,898
9,250
8.138
107,858
23,215
6,000
2,044
174
1,235
463,721
31,200
3,600
253,109
17,898
9,250
8,138
107,858
23,215
6,000
2,044
174
1,235
463,721
30,641
3,600
251,915
58,866
9.733
8,446
60,783
15,033
6,800
1,8147
230
447,934
This page does not forni part of the statutory financial stat¢Tnents
Page 25

Gospel Support and Homes Trust Limited
DetAiled Statement of Financial Activities
for the Yesr Ended 31 Deeember 2024
2024
Totsl
funds
2023
Total
funds
Unrestri¢ted
funds
Restricted
funds
CharitAble activities
Brought fonvard
Depreciation of tangible fixed assets
Grants payable
463,721
45,151
463,721
45,151
5,000
447,934
53,577
10,000
5,000
508,872
5,000
513,872
511,511
Total resources expended
517,243
5,000
522,243
520,522
Net income before gain5 and losses
795,285
(5,000)
790,285
802,770
Unrealised (losses)/ggins
Unrealised (losses)/gains on investments
119,017
119,017
82,082
Net income
914,302
(5,000)
909.302
884,852
This page does not form part of the statutory financial statements
Page 26