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← The Church Of The Londoners

2024-12-31-accounts

THE CHURCH OF THE LONDONERS

REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] DECEMBER 2024

CHARITY REGISTRATION NUMBER: 1093426

THE CHURCH OF THE LONDONERS

CONTENTS

Page
Reference and administrative information 1
Trustees’ Report 2 to 5
Independent Auditors’ Report 6 to 8
Statement of Financial Activities 9
Balance Sheet 10
Cash Flow Statement 11
Notes to the Financial Statements 12 to 22

THE CHURCH OF THE LONDONERS

REFERENCE AND ADMINISTRATIVE INFORMATION FOR THE YEAR ENDED 31[ST] DECEMBER 2024

Trustees: T P Murray
D C O Szubert
F Fung
K R Woolnough
Trust Officer: S Alexander
Administrative Office: Bower House
Orange Tree Hill
Romford
RM4 1PB
Charity Number: 1093426
Auditors: Griffin Stone Moscrop & Co
Chartered Accountants and Registered Auditors
21-27 Lamb’s Conduit Street
London
WC1N 3GS

Page: 1

THE CHURCH OF THE LONDONERS

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31[ST] DECEMBER 2024

The trustees present their report along with the financial statements of the charity for the year ended 31[st] December 2024. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity’s trust deed, the Charities Act 2011 and Accounting 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 (FRS102) (effective 1 January 2019).

STRUCTURE, GOVERNANCE AND MANAGEMENT

The Church of the Londoners is constituted under a Trust Deed dated 31[st] July 2002 as amended on 7th December 2019. The Church was registered as a Charity with the Charity Commission on 31[st] July 2002. Trustees are appointed by resolution passed at a meeting of the Trustees of which at least 14 days notice has been given to the Trustees. There shall be no fewer than two trustees and not exceeding seven trustees at any time.

The trustees who served during the year and up to the date of signature of the financial statements were:

T P Murray D C O Szubert F Fung K R Woolnough

The trustees meet twice-yearly to discuss and make decisions regarding the broad strategy and areas of activities for the trust. The week to week management is handled by the weekly meetings of the elders of the church, four of whom are trustees, and one is the trust officer.

The induction process for any newly appointed trustee comprises an initial meeting with the trustees followed by a series of short meetings with the Trust Officer concerning how the church fund is managed, including the procedures for handling donations made to the church. The welcome pack includes a copy of the governing trust deed, a copy of the trustees’ minutes, a copy of the last three years’ annual reports and accounts, and a copy of the Charity Commission’s guidance The Essential trustee: What You Need to Know.

Dr D C Szubert and Mr T P Murray, the trustees of the Church of the Londoners are also trustees of Rhema Trust, a charity registered in England and Wales with the Charity Commission. All the transactions with Rhema Trust have been disclosed in the notes to the financial statements.

Dr D C Szubert, a trustee of the Church of the Londoners is also a trustee of Amana Trust, a charity registered in England and Wales with the Charity Commission. All the transactions with Amana Trust have been disclosed in the notes to the financial statements.

RISK MANAGEMENT

The trustees have examined the major financial risks that the charity faces and confirm that suitable measures have been taken to control these risks.

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THE CHURCH OF THE LONDONERS

REPORT OF THE TRUSTEES (continued) FOR THE YEAR ENDED 31[ST] DECEMBER 2024

OBJECTIVES AND ACTIVITIES

The objectives of the charity are to support and advance the Christian faith by means of the function of the Church as a pillar and base of the truth of the faith revealed in the Bible, by the preaching of the gospel, by the spiritual nourishment of the new believers, by the perfecting of all believers to be living, functioning members in the Body of Christ, by holding meetings for prayer, for remembrance of the Lord and for prophesying unto mutual encouragement, exhortation and building up, by seeking to raise up and support full time workers, by supporting works to spread the gospel both locally and abroad and by regular and frequent fellowship with other churches throughout the earth for the practical keeping of the oneness of the Body of Christ universally.

The public benefits of the charity’s activities are:

Public benefit statement

In producing their assessment of the benefit to the public provided by the charity, the trustees confirm that they have complied with the duty set out in the Charities Act 2011 to pay due regard to the Charity Commission’s guidance on public benefit and in particular, the specific guidance on charities for the advancement of religion.

ACHIEVEMENTS AND PERFORMANCE

The Charity continued its support of full-time Christian workers, radio broadcasts by Amana Trust on Premier Radio and the support of university graduates to attend the two years full time training program by the Full-time Training in London (FTTL).

Throughout the year the largest disbursements of funds were the support of full-time Christian workers and trainees (Fellowship unto the Gospel) 42% (2023 – 46%). The hire of facilities for church meetings was 5% (2023 – 7%), the cost of management and administration is around 2% in both years.

In the second half of 2024, the church was involved in arranging five cycles of gospel trips to Rouen/Dieppe during and after the Summer Olympics taking place in France, which amounted to over 5% of the total expenditure.

The remaining 46% (2023 - 45%) of the outgoings included the support of the International Blending Conference in London, the Winter School of Truths, the European YP conference in Poland, the UKYP conferences, outreach of the gospel, transport to facilitate fellowship with other churches, meeting supplies and other miscellaneous expenditure.

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THE CHURCH OF THE LONDONERS

REPORT OF THE TRUSTEES (continued) FOR THE YEAR ENDED 31[ST] DECEMBER 2024

FINANCIAL REVIEW

The Trust relies primarily on donations from individuals for its income, which totalled £568,299 (2023 - £679,758) to the church and £22,240 (2023 - £39,591) for other causes in the year. In addition, income has been generated from charitable activities of £372,609 (2023 - £273,613) as well as investment income and other income bringing total income to £994,472 (2023 - £1,021,897).

This allowed an expenditure of £917,809 (2023 - £731,665) on charitable activities and other causes, including the governance of the trust.

RESERVES POLICY

The Charity has an investment property, whose market value at 31st December 2024 was estimated at £300,000. Unrestricted funds are £2,162,434 (2023 - £2,026,283) and restricted funds are £76,613 (2023 - £116,101). Unrestricted free reserves, excluding the value of the charity’s investment property and other fixed assets, stand at £1,173,832 at 31st December 2024 (2023 - £1,042,880).

It is the policy of the charity to maintain free reserves at a level which equates to approximately 10% of the estimated annual expenditure. This provides sufficient funds to cover management and administration and to respond to emergency needs which arise from time to time. Free Reserves were maintained at this level throughout the year.

FUTURE DEVELOPMENT

Planning permission was obtained in July 2025 for a single-storey extensions to the north-east and southwest elevations of the property, providing indoor spaces for children, young people and nursing mums, as well as changes to car parking layout and the addition of a new bike store.

The work is expected to start in the first half of 2026 and continue for up to 6 months, during which time alternative accommodation will be needed for the congregation that meets there.

It remains the aspiration of the trustees to maintain a building fund with the goal of purchasing more meeting facilities that would be available for the church’s use 24/7, some of which would be strategically located for the work of the gospel among college-age young people.

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THE CHURCH OF THE LONDONERS

REPORT OF THE TRUSTEES (continued) FOR THE YEAR ENDED 31[ST] DECEMBER 2024

STATEMENT OF TRUSTEES’ RESPONSIBILITIES

The trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Laws applicable to charities in England and Wales require the trustees to prepare financial statements for each financial year that give a true and fair view of the incoming resources and application of the resources of the charity during the year and of its state of affairs at the end of the year. In preparing financial statements giving a true and fair view, the trustees should follow best practice and:

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy the financial position of the Settlement and which enable them to ascertain its financial position and to ensure that the financial statements comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008 and the Trust Deed. They are also responsible for safeguarding the assets of the Settlement and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by the trustees and signed on their behalf by:

…………………………………………… D C O Szubert - Trustee

……………………………. Date: 30 October 2025

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INDEPENDENT AUDITORS’ REPORT TO THE TRUSTEES OF

THE CHURCH OF THE LONDONERS

Opinion

We have audited the financial statements of The Church of the Londoners (the ‘charity’) for the year ended 31 December 2024 which comprise the Statement of Financial Activities, Balance Sheet, Cash Flow Statement and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

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 Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the trustees’ annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

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INDEPENDENT AUDITORS’ REPORT TO THE TRUSTEES OF

THE CHURCH OF THE LONDONERS

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement, the trustees are responsible for the preparation of financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with regulations made under section 154 of that Act.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance 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 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.

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INDEPENDENT AUDITORS’ REPORT TO THE TRUSTEES OF

THE CHURCH OF THE LONDONERS

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The specific procedures for this engagement designed and implemented to detect irregularities, including fraud are detailed below:

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/Our-Work/Audit/Audit-and-assurance/Standards-and-guidance/Standards-andguidance-for-auditors/Auditors-responsibilities-for-audit/Description-of-auditors-responsibilities-foraudit.aspx. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity’s trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Griffin Stone Moscrop & Co Chartered Accountants Statutory Auditors 21-27 Lamb's Conduit Street London WC1N 3GS

Date: 30 October 2025

Griffin Stone Moscrop & Co are eligible to act as auditors in terms of section 1212 of the Companies Act 2006.

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THE CHURCH OF THE LONDONERS

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2024

Notes Unrestricted Restricted Total Funds Total Funds
Funds Funds 2024 2023
£ £ £ £
Income:
Donations and legacies 2 568,299 - 568,299 679,758
Donations for other causes 3 1,000 21,240 22,240 39,591
Income from charitable activities 4 343,775 28,834 372,609 273,613
Other income 2,593 - 2,593 4,943
Investment income 5 28,731 - 28,731 23,992
______ ______ ______ ______
Total income 944,398 50,074 994,472 1,021,897
______ ______ ______ ______
Expenditure
Expenditure on charitable activities 6 813,446 89,562 903,008 716,864
Depreciation 8 14,801 - 14,801 14,801
______ ______ ______ ______
Total expenditure 828,247 89,562 917,809 731,665
______ ______ ______ ______
Net income before revaluation of 116,151 (39,488) 76,663 290,232
Investments
Unrealised gain on revaluation of
Investment property 20,000 - 20,000 -
_____ _____ _____ _____
Net movement in funds 136,151 (39,488) 96,663 290,232
Reconciliation of funds
Total funds brought forward 2,026,283 116,101 2,142,384 1,852,152
______ ______ ______ ______
Total funds carried forward 2,162,434 76,613 2,239,047 2,142,384
===== ===== ===== =====

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

All income and expenditure derive from continuing activities.

The attached notes on pages 12 to 22 form part of these financial statements.

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THE CHURCH OF THE LONDONERS

BALANCE SHEET AT 31[ST] DECEMBER 2024

Notes 2024 2023
£ £ £ £
FIXED ASSETS
Tangible Fixed Assets 8 688,602 703,403
Investments 9 300,000 280,000
______ _____
988,602 983,403
CURRENT ASSETS
Debtors 10 37,138 33,761
Cash at bank 1,256,702 1,157,008
_____ _____
1,293,840 1,190,769
CURRENT LIABILITIES
Creditors falling due within one year 11 43,395 31,788
_____ _____
TOTAL ASSETS LESS CURRENT LIABILITIES 1,250,445 1,158,981
_____ _____
17 2,239,047 1 2,142,384
_____ _____
THE FUNDS OF THE CHARITY:
Unrestricted income funds 2,162,434 2,026,283
Restricted income funds 12
76,613 116,101
_____ _

2,239,047
_____		 2,142,384
_____

These financial statements were approved by the Trustees and signed on their behalf by:

…………………………………………… Trustee – D C O Szubert

Date: 30 October 2025

The attached notes on pages 12 to 22 form part of these financial statements.

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THE CHURCH OF THE LONDONERS

CASH FLOW STATEMENT AT 31[ST] DECEMBER 2024

Notes 2024 2023
£ £
Cash provided for (used in)
operating activities

 15 70,963 306,310
Cash flows from investing activities
Interest Income 19,117 9,962
Rental Income 9,614 14,030
Improvement to Freehold Property - (7,356)
_ _
Cash provided by (used in) investing 28,731 16,636
activities _ _
Increase/(decrease) in cash and cash 99,694 322,946
Equivalents in the year _ _
Cash and cash equivalents at the beginning of
the year 1,157,008 834,062
_ _
Total cash and cash equivalents at the end
of the year 1,256,702 1,157,008
_ _

The attached notes on pages 12 to 22 form part of these financial statements.

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THE CHURCH OF THE LONDONERS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] DECEMBER 2024

1. ACCOUNTING POLICIES

a) Basis of preparation

The financial statements have been prepared in accordance with Accounting 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 1 January 2019) – (Charities SORP (FRS 102)), and the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2019.

The accounts are prepared in sterling which is the functional currency of the charity and are rounded to the nearest pound.

The financial statements have been prepared to give a “true and fair” view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a “true and fair view”. This departure has involved following the Charities SORP (FRS 102) (effective 1 January 2019) rather than the Accounting and Reporting by Charities Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

The trustees consider that there is no material uncertainty about the charity’s ability to continue as going concern.

Church of the Londoners meets the definition of a public benefit entity under FRS 102.

The charity’s principal administrative office is at Bower House, Orange Tree Hill, Romford, RM4 1PB.

b) Income

All income is recognised once the charity has entitlement to the income; it is probable that the income will be received and the amount can be measured reliably.

Donations and gifts are recognised in full in the statement of financial activities as soon as they are received, except that a debtor has been included in respect of tax recoverable on donations under Gift Aid.

The donations and contributions to charitable activities are recognised as they are received. These include the European YP Conference, International Blending Conference in London, Winter School of Truth, European Gospel Work, Young People and Children Work and any other Lord’s work.

Legacy gifts are recognised on a case by case basis following the granting of probate when the executor for the estate has communicated in writing both the amount and the settlement date. In the event that the gift is in the form of an asset other than cash, recognition is subject to the value of the gift being valued by an independent qualified third party and the title to the asset has been transferred to the charity.

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] DECEMBER 2024

THE CHURCH OF THE LONDONERS

c) Interest receivable

Interest is included in the financial statements on a receipts basis; the difference between receipts and accruals basis is considered immaterial.

d) Rent receivable

Rent is included in the financial statements on a receipt basis; the difference between receipts and receipts in advance is considered immaterial.

e) Fund Accounting

Unrestricted funds are available to spend on activities that further any of the purposes of the charity and are used at the discretion of the trustees.

Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose.

Restricted funds are funds that can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

f) Expenditure and liabilities

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.

Expenditure on charitable activities includes the support of full time workers for fellowship unto the furtherance of the gospel, conferences and blending, Winter School of Truth, UK YP and children conferences, contributions to the Radio Broadcast of the Life Study of the Bible at Premier Radio, hiring of facilities and halls for church services throughout London, contributions to the purchase and refurbishment of Glasgow meeting hall, support for the outreach of the gospel throughout London, governance costs and support costs as shown in note 6.

Irrecoverable VAT is charged as a cost against the activity for which the expenditure is incurred.

g) Allocations of Support costs

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back office costs and governance costs. Governance costs comprise all costs involving the public accountability of the charity and its compliance with regulation and good practice. These costs include costs related to statutory audit.

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THE CHURCH OF THE LONDONERS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] DECEMBER 2024

h) Tangible Fixed Assets and Depreciation Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost of those assets, less their residual value, over their expected useful lives as follow:

Freehold Properties – 2% straight line

i) Investments

The investment property is stated at their market value.

j) Debtors

Debtors include tax recoverable under gift aid donations.

k) Cash at bank

Cash at bank includes cash balances in the bank accounts, the PayPal account and the Stripe account.

l) Financial instruments

The trust only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

2. INCOME FROM DONATIONS AND LEGACIES

Unrestricted Restricted
2024		 2023
Funds Funds
£ £ £ £
General offerings 491,880 -
 491,880 591,957
Tax recoverable 63,122 -
 63,122 69,148
Donations - Lee Meeting Hall 13,297 -
 13,297 18,653
_____
 _____
 _____ _____
568,299
 -
 568,299 679,758
_____
 _____
 _____ _____

In 2023, of the total income from donations and legacies, £679,758 was to unrestricted funds and £Nil was to restricted funds.

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THE CHURCH OF THE LONDONERS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] DECEMBER 2024

3. INCOME FROM DONATIONS FOR OTHER CAUSES

Unrestricted Restricted
2024		 2023
Funds Funds
£ £ £ £
Ukraine - 2,370 2,370 9,210
Atlanta Meeting Hall - -
 - 202
Madrid Meeting Hall - 1,470
 1,470 -
Zurich/Bern - -
 - 5,000
Gut Elim -
 -
 - 4,000
Paris Meeting Hall -
 -
 - 5,050
Norwich Meeting Hall -
 -
 - 10,042
Churches in Holland -
 10,400
 10,400 2,500
Bibles For Europe 1,000 4,500
 5,500 3,587
Lagos - 2,500
 2,500 -
_____
 _____
 _____ _____
1,000
 21,240
 22,240 39,591
_____
 _____
 _____ _____

In 2023, the total income from donations for other causes of £39,591 was to restricted funds.

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THE CHURCH OF THE LONDONERS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] DECEMBER 2024

4. INCOME FROM CHARITABLE ACTIVITIES

Unrestricted Restricted
2024		 2023
Funds Funds
£ £ £ £
European YP conference 49,474 -
 49,474 43,872
International conference 24,944
 -
 24,944 25,678
Winter School of Truth 20,127 -
 20,127 34,660
Fellowship to Gospel 46,665
 -
 46,665 56,873
European Gospel Work - 120
 120 120
Young People and Children 4,926
 -
 4,926 3,950
Bower House Building Project -
 8,612 8,612 18,016
LME -
 6,000 6,000 3,520
Live Training Registration - 5,830 5,830 8,500
ITERO Registration 25,188
 -
 25,188 3,323
University Conference and outings 14,767 -
 14,767 8,545
Transport Contributions
 4,710 -
 4,710 7,295
National College Training -
 -
 - 5,454
London Video Training 27,481 -
 27,481 26,924
Chinese Speaking conference - -
 - 17,520
Radio 4,520
 - 4,520 4,067
Other Lord’s work 4,869
 180
 5,049 5,296
Gospel to France Dieppe 50,526
 150
 50,676 -
Bibles for Europe (Olympic Distribution) 34,757 -
 34,757 -
Taiwan Earthquake
 - 7,942
 7,942 -
UK Sisters time
 14,654 - 14,654 -
Accommodation at Baarlo 5,471 - 5,471 -
Leeds UKI Conference
 10,696 -
 10,696 -
_____ _____
 _____ _____
343,775 28,834
 372,609 273,613
_____ _____ _____ _____

In 2023, of the total income from charitable activities, £236,823 was to unrestricted funds and £36,790 was to restricted funds.

5. INVESTMENT INCOME

Unrestricted Restricted
2024 2023
Funds Funds
£ £ £ £
Bank interest received 19,117
-
 19,117 9,962
Rental income received 9,614
-
 9,614 14,030
_____ _____
 _ ___
28,731
-
 28,731 23,992
_____ _____ _ ___

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THE CHURCH OF THE LONDONERS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] DECEMBER 2024

6. ANALYSIS OF EXPENDITURE ON CHARITABLE ACTIVITES

Unrestricted Restricted 2024 2023
Funds Funds
£ £ £ £
Fellowship to Gospel 375,874 - 375,874 329,547
Conference and Blending 37,629 - 37,629 15,910
International Conference 34,550 - 34,550 24,405
University Conference 30,618 1,060 31,678 18,168
Whole church meeting & UKI 24,307 - 24,307 -
Winter School of Truth 19,455 - 19,455 26,789
UK YP Conference 4,330 - 4,330 2,711
Video and online Conferencing 3,600 - 3,600 3,376
Chinese speaking conference - - - 17,413
Live Trainings & ITERO 4,033 23,580 27,613 11,223
National College Training - - - 12,581
Poland - - - 3,904
Lee Property expenses 7,810 - 7,810 3,348
Ukraine - - 48,116
Radio 12,436 - 12,436 7,200
Meeting supplies 460 - 460 547
Facilities Hire 45,076 - 45,076 47,643
Charitable Support 15,677 - 15,677 1,800
Property expenses 3,638 - 3,638 872
Other Lord’s work 1,955 - 1,955 2,860
Other charitable costs 41,346 - 41,346 24,167
Outreach of the gospel - - - 3,550
European YP Conference 53,071 - 53,071 27,982
Philippines Relief - - - 8,551
Atlanta Meeting Hall - - - 8,697
Bern/Zurich - - - 5,100
Elim Springs Germany - 4,000 4,000 8,000
Video Trainings 22,521 - 22,521 33,878
Books for Halls 496 - 496 1,872
Support costs 20,369 (120) 20,249 11,254
Meeting hall in Norwich - 10,042 10,042 -
Churches in Netherlands - 8,650 8,650 -
Rhema Trust 1,800 - 1,800 -
Bibles For Europe - 4,635 4,635 -
Bower House Building Project - 37,715 37,715 -
Gospel trips Rouen & Dieppe 45,795 - 45,795
Auditors’ remuneration 6,600 - 6,600 5,400
_____ _____ _____
_____
813,446 89,562 903,008 716,864
_____ _____ _____ _____

In 2023, of the total expenditure to charitable activities, £607,142 was to unrestricted funds and £109,722 was to restricted funds.

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THE CHURCH OF THE LONDONERS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] DECEMBER 2024

6. ANALYSIS OF EXPENDITURE ON CHARITABLE ACTIVITES (continued)

Fellowship to Gospel includes £341,774 (2023 - £316,651) of payments made for the support of full time Christian workers. Of this amount £21,779 (2023 - £19,386) has been paid to Amana Trust to support some of the workers which it employs directly.

Included in Fellowship to Gospel were staff costs of £86,250 (2023 - £94,022). See Note 7 for details of staff costs.

7. STAFF COSTS

Unrestricted Restricted 2024 2023
Funds Funds
£ £ £ £
Salaries 81,774 -
 81,774 87,254
Social Security costs 2,205 - 2,205 3,735
Pension costs 2,271 - 2,271 3,033
_____ _____ _____ _____
86,250 -
 86,250 94,022
_____ _____ _____ _____

The average number of employees during the year was as follow:

2024 2023
Numbers Numbers
Office staff 1 1
Campus worker 2 2
____ ____
3 3
____ ____

There are no employees who received remunerations of more than £60,000.

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THE CHURCH OF THE LONDONERS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] DECEMBER 2024

8. TANGIBLE FIXED ASSETS

8.
TANGIBLE FIXED ASSETS
FREEHOLD IMPROVEMENTS TOTAL
PROPERTY TO PROPERTY
Cost £ £ £
At 1 January 2024 721,469 18,604 740,073
Addition - - -
______ _____ _____
At 31 December 2024 721,469 18,604 740,073
______ _____ _____
Depreciation
At 1 January 2024 36,073 597 36,670
Charge for the year 14,429 372 14,801
_____ _____ _____
At 31 December 2024 50,502
 969
 51,471
_____ _____ _____
Net Book Value
At 31 December 2024 670,967 17,635 688,602
______ _____ _____
At 31 December 2023 685,396 18,007 703,403
______ _____ _____

9. INVESTMENT PROPERTY

The charity holds a leasehold property initially donated from an estate. In accordance with the requirements of the SORP, this investment property is being carried at market value, with the value estimated by trustees being arrived at having reference to recent sold prices in the immediate area.

£ At 1 January 2024 280,000 Revaluation 20,000 __ At 31 December 2024 300,000 ____

10. DEBTORS
2024 2023
£
 £
Tax recoverable on claim under Gift Aid 37,138 33,761
_____
 _____

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THE CHURCH OF THE LONDONERS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] DECEMBER 2024

11. CREDITORS WITHIN ONE YEAR

11.
CREDITORS WITHIN ONE YEAR
2024 2023
£
 £
Accruals 40,135 29,940
Taxation, social security and pension 3,260 1,848
_____ _____
43,395 31,788
_____ _____

12. RESTRICTED FUNDS

RESTRICTED FUNDS
Lord’s move Offerings to Total
To Europe Specific Needs
£ £ £
Balance at 1 January 2024 24,820 91,281 116,101
Income received (Notes 3,4) 6,000 44,074 50,074
Expenditure made (Note 6) - (89,562) (89,562)
______ ______ ______
Balance at 31 December 2024 30,820 45,793 76,613

__ _ ___

The Lord’s move to Europe is to support the spreading of the gospel work in Europe. The Offerings to Specific Needs represents a number of individual appeals made to meet needs that have arisen during the period under review .

13. TRANSACTIONS WITH TRUSTEES AND KEY MANAGEMENT

The trustees do not receive any remuneration. The reimbursements for the expenditure made on behalf of the charity to one trustee amounted to £24,828. (2023 - 3 trustees £44,574).

Included in the reimbursements were foreign currency transfers of £22,851 (2023 - £15,000) to Poland for the EYPC, £1,549 (2023 - £7,773) to the USA for the live trainings and £427 (2023 - £1,680) for the ITERO training. In 2023, there were £17,413 to Taiwan for the ICSC 2024 registration.

The key management personnel of the church comprise the elders of the church, four of whom are trustees and one is a trust officer. The total remuneration paid to key management personnel amounted to £34,800 (2023 - £34,800).

The total amount of donations received from trustees without conditions amounted to £8,220 (2023 - £8,525).

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THE CHURCH OF THE LONDONERS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] DECEMBER 2024

14. RELATED PARTY TRANSACTION

Dr D C Szubert and Mr T P Murray, trustees of the Church of the Londoners are also trustees of Rhema Trust, a charity registered in England and Wales with the Charity Commission. During the year, the charity gifted £1,800 (2023 - £3,150) to Rhema Trust.

Dr D C Szubert, a trustee of the Church of the Londoners is also a trustee of Amana Trust, a charity registered in England and Wales with the Charity Commission. During the year, the charity made a total payment of £180,715 (2023 - £165,039) to Amana Trust, in which £4,966 (2023 - £22,392) were held by Amana Trust in custodian of Living Stream Ministry; and £14,624 (2023 - £65,364) were held in custodian of the Lord’s Move to Europe. The charity received £7,039 (2023 - £2,778) from Amana Trust. At the balance sheet date, the charity owed Amana Trust £14,810 (2023 - £15,377).

15. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES

2024 2023
£ £
Net income before revaluation of investments
 76,663 290,232
Depreciation charges 14,801 14,801
Deduct interest income shown in investing
activities
 (19,117) (9,962)
Deduct rental income in investing activities
 (9,614) (14,030)
(Increase)/Decrease in Debtors
 (3,377) 14,690
Increase in Creditors
 11,607 10,579
_____ _____
Net cash provided by operating activities
 70,963 306,310
_____ _____
16. FINANCIAL INSTRUMENTS
2024 2023
£ £
Financial assets
Financial assets measured at amortised cost
 1,256,702 1,157,008
______ ______
1,256,702 1,157,008
______ ______
Financial liabilities
Financial liabilities measured at amortised
cost 43,395 31,788
______ ______

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THE CHURCH OF THE LONDONERS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] DECEMBER 2024

17. NET ASSETS BY FUND

Restricted Unrestricted 2024 2023
Funds
 Funds
£ £ £ £
Fixed Assets -
 988,602
 988,602 983,403
Current Assets
 76,613 1,217,227
 1,293,840 1,190,769
______
 ______
 ______ ______
Total Assets
 76,613
 2,205,829 2,282,442 2,174,172
Less: Creditors falling due within one year
-
 43,395 43,395 31,788
______ ______
 ______ ______
Net Assets by Fund
 76,613
 2,162,434 2,239,047 2,142,238
______ ______
 ______ ______

In 2023, of the total Current Assets, £1,074,668 was to unrestricted funds and £116,101 was to restricted funds.

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