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← Gospel Partners Trust

2021-12-31-accounts

Gospel Partners Trust

Charity No. 1097301

Annual Report and Accounts

for the year ended 31 December 2021

Gospel Partners Trust Annual Report and Accounts For the year ended 31 December 2021

CONTENTS

CONTENTS
Pages
Legal and Administrative Information 1
Annual Report 2 - 4
Independent Examiner's Report 5
Statement of Financial Activities 6
Balance Sheet 7
Notes to the Accounts 8 - 14

Gospel Partners Trust

Legal and Administrative Information For the year ended 31 December 2021

Trustees

Kyla Malcolm Treasurer Brian O'Donoghue Secretary Simon Pilcher Chairman The Reverend Carrie Sandom

Principal address

St Helen's Church Office, Great St Helens London EC3A 6AT

Charity registration number

1097301

Website

www.gospelpartnerstrust.org

Independent Examiner

Richard Hill, FCA Griffin Stone Moscrop & Co. 21-27 Lamb's Conduit Street London WC1N 3GS

Page 1

Annual Report of the Trustees For the year ended 31 December 2021

Gospel Partners Trust

Structure, governance and management

Legal constitution

Gospel Partners Trust, St Helen's Church Office, Great St Helens, London EC3A 6AT is registered with the Charity Commission (No. 1097301) and constituted by a declaration of trust dated 28 March 2003.

Trustees

Kyla Malcolm Treasurer Brian O'Donoghue Secretary Simon Pilcher Chairman The Reverend Carrie Sandom

The deeds of the Trust call for a minimum of three Trustees to be in office at any one time. All Trustees are required to sign assent to the Trust's articles of faith on appointment and annually thereafter. Trustees are appointed for their broad knowledge of the needs of gospel workers in the UK and the requirements for their training. They currently comprise a businessman, an economist, a church administrator and an ordained minister who is involved in gospel training. Trustees serve for a maximum of five years before they are required to be re-elected.

Organisation and risk management

The Trustees meet around four times per year to discuss possible grants and progress with existing beneficiaries of the Trust. Applications are circulated before the Trustees' meetings and Trustees are encouraged to supplement this information with additional enquiries. Most funding decisions are made at these meetings, although occasionally, pending further information or references, a delayed decision may be made by two or more of the Trustees outside of the normal meetings.

The Trustees have considered the major strategic, financial and operational risks which the Trust faces and confirm that, through regular Trustees' meetings and other reviews, necessary steps have been, or are being, taken to lessen these risks.

Objectives and activities

Object of the Trust

The object of the Trust is the furtherance of the Christian Faith in the United Kingdom and overseas with special emphasis on:

and to this end the co-operation of financial and other support for these ministries and workers so that those wishing to commit resources may work in gospel partnership with those needing the help of such resources.

Donations into general funds

From 2009, the Trustees have implemented a policy of only accepting donations into general funds. The Trustees welcome insights and information from gospel partners about worthy people and projects to support.

Grant making policy

The Trust always aims to make grants to supplement other sources of funding for claimants. It also aims to create a partnership with each beneficiary that goes beyond financial giving. There is a clear application procedure (detailed on the Trust's website) and outside advice and references are always sought. The Trust aims to avoid being the sole source of funding for any applicant and generally will not extend promises of financing beyond one year.

Page 2

Annual Report of the Trustees For the year ended 31 December 2021 (cont.)

Gospel Partners Trust

Public benefit

In producing their assessment of the benefit to the public provided by the Trust, the Trustees confirm that they have complied with the duty in section 17 of the Charities Act 2011 to have due regard to the Charity Commission's general guidance on public benefit.

The Trustees are keen to enable ministry among those who cannot afford to pay for it, and also in pioneer situations where there is no established congregation to pay for the ministry. The Trustees believe that the grants given are an investment in the future; those trained for ministry will give many years of service to their congregations, and the seed capital invested in new ministries will, God willing, help sustainable ministries to be established for years to come.

Achievements in the year

Grants made in the year decreased by £32,050 or 15% compared to the level in 2020.

Grants payable comprised: 2021 2020
Number Total Number Total
of grants £ of grants £
Grants to gospel people in training
Pre-college 25 35,150 43 66,800
Theological college 41 82,600 40 84,000
117,750 150,800
Grants for gospel projects
Ministry initiatives 19 62,500 21 61,500
Total grants 85 180,250 104 212,300

Further details of grants payable are given in note 3 to the accounts.

The Trustees are very grateful to the gospel partners who have contributed generously to the Trust in the year. Total donations received in the year and available for grant making in accordance with the Trust's object were £183,550 (2020: £185,707).

The Trustees have continued to see high quality applications for funding, and receive very positive feedback from people and projects the Trust has supported previously, as well as repeat applications for grants.

Financial review

The net decrease in resources for the year was £1,686 (2020: £32,458), and the total funds carried forward were £107,500 (2020: £109,186).

At the end of 2021, no grants outstanding had been provisionally approved, with potential repeat funding of £157,500, making the total of anticipated grants £157,500 (see note 9), which would reduce the total funds of £107,500 (2020: £109,186) to a deficit of £50,000 (2020: £41,114). Although experience shows that a significant amount of potential repeat funding will not actually be supported for a variety of reasons, this theoretical deficit highlights the real need there is for funding, and the wisdom which the Trustees must exercise in choosing which new people and new projects to support, alongside those they have previously made grants to.

Page 3

Annual Report of the Trustees For the year ended 31 December 2021 (cont.)

Gospel Partners Trust

Reserves policy

The Trustees have considered the Trust's needs for reserves in line with the guidance issued by the Charity Commission. It is their intention to pay out grants as cash is available, and to review applications for grants in line with unallocated funds, making awards in accordance with the Trust's object when possible. For this reason, besides keeping prudent cash reserves up to £20,000 for a short period beyond the normal grant making cycle, the Trustees aim to run the Trust with a low level of ongoing uncommitted reserves.

Implications of COVID-19

The Trustees were thankful that despite challenging economic conditions and uncertainties of COVID-19, most donors were in a position to continue their generous support of the work of the Trust during 2021, although uncertainty remains as to the impacts of these factors in the future.

Plans for the future

The number of applications to the Trust is expected to rise, both as the Trust's activities become more widely known and as a result of the income squeeze that many are experiencing at this time. The Trustees earnestly hope and pray that they will be able to identify additional sources of income so that they are able to increase their support for gospel people and gospel projects at this time.

Trustees' responsibilities in relation to the accounts

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

The law applicable to charities in England and Wales requires the Trustees to prepare accounts for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these accounts, the Trustees are required to:

The Trustees are responsible for keeping accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which enable them to ensure that the accounts comply with the Charities Act 2011, the Charities (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. The Trustees are responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by the Trustees on 7 October 2022 and signed on their behalf by:

Simon Pilcher Chairman

Page 4

Gospel Partners Trust

Independent Examiner's Report to the Trustees of Gospel Partners Trust

I report to the charity Trustees on my examination of the accounts of the charity for the year ended 31 December 2021 which are set out on pages 6 to 14.

Responsibilities and basis of report

As the charity's Trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').

I report in respect of my examination of the charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent Examiner's statement

Your attention is drawn to the fact that the charity has prepared the accounts 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) in preference to Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has since been withdrawn.

I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2019.

I have completed my examination. I can confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Use of this 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. My work has been undertaken so that I might state to the charity's Trustees those matters I am required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's Trustees, as a body, for my work or for this report.

21-27 Lamb's Conduit Street London WC1N 3GS Dated: 7 October 2022

Richard Hill, FCA For and on behalf of Griffin Stone Moscrop & Co. Chartered Accountants

Page 5

Gospel Partners Trust

Statement of Financial Activities For the year ended 31 December 2021

2021
2020
Unrestricted
Restricted
Total
Total
funds
funds
funds
funds
General
Designated
funds
funds
Notes
£
£
£
£
£
INCOME FROM:
Donations
2
181,050
2,500
-
183,550
185,707
Interest on Gift Aid repayments
2
-
-
2
-
Total income
181,052
2,500
-
183,552
185,707
EXPENDITURE ON:
Charitable activities
Grant making
Pre-college
(35,150)
-
-
(35,150)
(66,800)
Theological college
(82,600)
-
-
(82,600)
(84,000)
Grants to gospel people in training
(117,750)
-
-
(117,750)
(150,800)
Grants for gospel projects
(62,500)
-
-
(62,500)
(61,500)
Cost of grant making
3
(180,250)
-
-
(180,250)
(212,300)
Governance and support costs
4
-
(4,988)
-
(4,988)
(5,865)
Total cost of charitable activities
(180,250)
(4,988)
-
(185,238)
(218,165)
Total expenditure
(180,250)
(4,988)
-
(185,238)
(218,165)
Net (expenditure)/income
802
(2,488)
-
(1,686)
(32,458)
Transfers between funds
8
-
-
-
-
-
Net movement in funds
802
(2,488)
-
(1,686)
(32,458)
Reconciliation of funds
Total funds brought forward
105,751
3,435
-
109,186
141,644
Total funds carried forward
106,553
947
-
107,500
109,186		 2021
2020
Unrestricted
Restricted
Total
Total
funds
funds
funds
funds
General
Designated
funds
funds
Notes
£
£
£
£
£
INCOME FROM:
Donations
2
181,050
2,500
-
183,550
185,707
Interest on Gift Aid repayments
2
-
-
2
-
Total income
181,052
2,500
-
183,552
185,707
EXPENDITURE ON:
Charitable activities
Grant making
Pre-college
(35,150)
-
-
(35,150)
(66,800)
Theological college
(82,600)
-
-
(82,600)
(84,000)
Grants to gospel people in training
(117,750)
-
-
(117,750)
(150,800)
Grants for gospel projects
(62,500)
-
-
(62,500)
(61,500)
Cost of grant making
3
(180,250)
-
-
(180,250)
(212,300)
Governance and support costs
4
-
(4,988)
-
(4,988)
(5,865)
Total cost of charitable activities
(180,250)
(4,988)
-
(185,238)
(218,165)
Total expenditure
(180,250)
(4,988)
-
(185,238)
(218,165)
Net (expenditure)/income
802
(2,488)
-
(1,686)
(32,458)
Transfers between funds
8
-
-
-
-
-
Net movement in funds
802
(2,488)
-
(1,686)
(32,458)
Reconciliation of funds
Total funds brought forward
105,751
3,435
-
109,186
141,644
Total funds carried forward
106,553
947
-
107,500
109,186		 2021
2020
Unrestricted
Restricted
Total
Total
funds
funds
funds
funds
General
Designated
funds
funds
Notes
£
£
£
£
£
INCOME FROM:
Donations
2
181,050
2,500
-
183,550
185,707
Interest on Gift Aid repayments
2
-
-
2
-
Total income
181,052
2,500
-
183,552
185,707
EXPENDITURE ON:
Charitable activities
Grant making
Pre-college
(35,150)
-
-
(35,150)
(66,800)
Theological college
(82,600)
-
-
(82,600)
(84,000)
Grants to gospel people in training
(117,750)
-
-
(117,750)
(150,800)
Grants for gospel projects
(62,500)
-
-
(62,500)
(61,500)
Cost of grant making
3
(180,250)
-
-
(180,250)
(212,300)
Governance and support costs
4
-
(4,988)
-
(4,988)
(5,865)
Total cost of charitable activities
(180,250)
(4,988)
-
(185,238)
(218,165)
Total expenditure
(180,250)
(4,988)
-
(185,238)
(218,165)
Net (expenditure)/income
802
(2,488)
-
(1,686)
(32,458)
Transfers between funds
8
-
-
-
-
-
Net movement in funds
802
(2,488)
-
(1,686)
(32,458)
Reconciliation of funds
Total funds brought forward
105,751
3,435
-
109,186
141,644
Total funds carried forward
106,553
947
-
107,500
109,186
181,052
2,500
-
183,552
185,707
Pre-college
Theological college		 (35,150)
-
-
(35,150)
(66,800)
(82,600)
-
-
(82,600)
(84,000)
(117,750)
-
-
(117,750)
(150,800)
(62,500)
-
-
(62,500)
(61,500)
(180,250)
-
-
(180,250)
(212,300)
-
(4,988)
-
(4,988)
(5,865)
(180,250)
(4,988)
-
(185,238)
(218,165)
(180,250)
(4,988)
-
(185,238)
(218,165)
802
(2,488)
-
(1,686)
(32,458)
-
-
-
-
-
802
(2,488)
-
(1,686)
(32,458)
105,751
3,435
-
109,186
141,644
106,553
947
-
107,500
109,186

Page 6

Gospel Partners Trust

Balance Sheet as at 31 December 2021

2021 2020
Unrestricted Restricted Total Total
funds funds funds funds
General Designated
funds funds
Notes £ £ £ £ £
Fixed assets
Tangible fixed assets 5 - - - - -
Current assets
Debtors 6 26,175 500 - 26,675 26,655
Cash at bank 80,378 3,443 - 83,821 85,667
Total current assets 106,553 3,943 - 110,496 112,322
Creditors: amounts falling due within one year
Accruals - (2,996) - (2,996) (3,136)
Net current assets 106,553 947 - 107,500 109,186
Net assets 106,553 947 - 107,500 109,186
Funds of the charity
Restricted income funds 8 - - - - -
Unrestricted income funds
Designated funds 8 - 947 - 947 3,435
General funds 8 106,553 - - 106,553 105,751
Total charity funds 106,553 947 - 107,500 109,186

The accounts on pages 6 to 14 were approved by the Trustees on 7 October 2022 and signed on their behalf by:

Simon Pilcher Chairman

Kyla Malcolm Treasurer

Page 7

Gospel Partners Trust

Notes to the accounts for the year ended 31 December 2021

1. Principal accounting policies

The accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts. The accounts 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) published in October 2019 (the Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.

The accounts 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 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) published in October 2019 rather than Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

The accounts are prepared in sterling, which is the functional and presentation currency of the Trust, and are rounded to the nearest £1.

Gospel Partners Trust constitutes a public benefit entity as defined by FRS 102.

The Trustees consider there are no material uncertainties about the Trust's ability to continue as a going concern.

(c) Donations, and donated costs and services Donations and similar incoming resources are recognised once the Trust has entitlement to the resources, it is reasonably certain that the resources will be received and the monetary value can be reliably measured.

Assistance given to the Trust in the form of donated costs and services is included in the Statement of Financial Activities as part of income from donations where the benefit to the Trust is reasonably quantifiable and measurable, based on the effective price which the Trust would have paid. Fund-raising events were paid for by anonymous donors, without any charge to the charity.

Investment income is recorded on a receivable basis.

(e) Grants payable

Grants payable are payments made to third parties in furtherance of the charitable object of the Trust.

Grants to gospel people in training are analysed as individual grants, as there is a personal benefit as each individual trains and tests his or her call for future gospel ministry. The Trustees recognise that their service over this period may also benefit ministry initiatives. Grants for gospel projects are analysed as institutional grants. In all cases an institution is associated with a grant.

Expenditure on grants is charged on a cash basis, except when offers are unconditional and funding has been received and designated to cover the grants, or a decision has been made to return grants paid out in the year.

Although grants are charged to expenditure on a cash basis, the Trustees consider that it is appropriate to disclose within the accounts the level of grants which the Trustees anticipate, at the balance sheet date, they will be funding in the next financial year. This information is shown as anticipated grants in note 9. Anticipated grants consist of both provisionally approved grants, subject to conditions and funding requirements which have not been met at the year end, and anticipated repeat funding for people and projects previously supported; these are not accrued as expenditure.

Other expenditure is recorded in the accounts on an accruals basis. Irrecoverable VAT is charged against the category of expenditure for which it was incurred.

Page 8

Gospel Partners Trust

Notes to the accounts for the year ended 31 December 2021 (cont.)

1. Principal accounting policies (cont.)

(h) Fund accounting Unrestricted funds comprise those funds which the Trustees are free to use in accordance with the charitable object. The Trustees have allocated anonymous gifts to cover expenses for fund-raising, governance and other costs as designated funds; all other unrestricted funds are classified as general funds.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Trust for particular purposes.

(i) Taxation As a registered charity the Trust is generally not liable to taxation on its surplus or capital gains. It is not, however, exempt from value added tax (VAT). Irrecoverable VAT is included in the cost of those items to which it relates.

Debtors are recognised at the settlement amount after any trade discount offered.

Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the Trust anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability.

2. Income from donations
2. Income from donations
Donations under Gift Aid
Income Tax recoverable for Gift Aid donations
Donations from trusts and other non-Gift Aid		 2021
2020
Unrestricted
Total
Total
funds
funds
funds
General
Designated
funds
funds
£
£
£
£
104,700
2,000
106,700
106,620
26,175
500
26,675
26,655
50,175
-
50,175
52,432
181,050
2,500
183,550
185,707

Page 9

Gospel Partners Trust

Notes to the accounts for the year ended 31 December 2021 (cont.)

3. Analysis of grants payable
Grants to gospel people in training
Pre-college
Theological college
Grants for gospel projects
Ministry initiatives
Number of people if
Analysis by institution
more than one (2020)
Gospel people in training - pre-college
Ballycullen Community Church, Ireland
Chalmers Church, Edinburgh
2 (4)
Christ Church, Southampton
4 (2)
Church by the Bay, Morecambe
Church@TheGreen, Arborfield Green
The Cornhill Training Course, London
(3)
Crossway, Stratford
Emmanuel Marlborough
Euston Church, London
Grace Church, Greenwich
Grace Church, Leith
Harpers Church, Glasgow
Holy Trinity Platt, Manchester
(2)
London Underground Church/Trinity Church Central
Moorlands, Lancaster
Myton Church
St Bart's, Bath
(2)
St Clement's, Manchester
St Clement's, Openshaw
St Helen's Bishopsgate, London
4 (9)
St Michael's, Fulwell
(2)
St Silas, Glasgow
Tron, Glasgow
4 (4)
Woodgreen Church, Worcester
Gospel people in training
Number of students
- theological college
supported (2020)
Brussels Bible Institute, Belgium
(2)
Cornhill Scotland, Pastors Training Course
3
Crosslands
7 (4)
London Seminary
(2)
Moore College, Sydney, Australia
2
Oak Hill Theological College, Southgate
21 (24)
Union School of Theology, Wales
2 (2)
Wycliffe Hall, Oxford
(2)
Other colleges
3 (3)		 2021
2020
General
Total
Total
funds
funds
funds
£
£
£
35,150
35,150
66,800
82,600
82,600
84,000
117,750
117,750
150,800
62,500
62,500
61,500
180,250
180,250
212,300
2021
2020
General
Total
Total
funds
funds
funds
£
£
£
-
-
2,000
3,000
3,000
5,500
5,500
5,500
3,500
1,500
1,500
1,500
2,000
2,000
2,000
-
-
5,000
-
-
1,400
1,500
1,500
-
2,000
2,000
2,000
1,500
1,500
1,500
-
-
2,000
-
-
2,000
1,500
1,500
2,500
-
-
2,500
300
300
1,000
-
-
2,000
-
-
2,500
-
-
2,000
850
850
2,000
6,500
6,500
13,200
1,500
1,500
2,700
1,000
1,000
1,500
5,500
5,500
5,000
1,000
1,000
1,500
35,150
35,150
66,800
1,600
1,600
4,000
5,500
5,500
2,000
9,500
9,500
6,000
3,000
3,000
4,500
5,000
5,000
-
45,500
45,500
53,000
5,000
5,000
4,000
2,000
2,000
3,500
5,500
5,500
7,000
82,600
82,600
84,000

Page 10

Gospel Partners Trust

Notes to the accounts for the year ended 31 December 2021 (cont.)

3. Analysis of grants payable (cont.)

3. Analysis of grants payable (cont.)
Analysis by institution (cont.)
Gospel projects - ministry initiatives
A Passion for Life
Anchor Church, Lymington
Anglican Mission in England (Redeemer, Ramsgate)
BCMT Crosslinks (Oikos Birmingham)
BroadGrace, Norfolk
Chester IPC
Christ Church, Hemel
Christ Church, Sheffield
Christ Church, Walkley
Dagenham Parish Church
Grace Church, Bude
Grace Church, Cheltenham
Grace Church, Duston
Grace Church, Haywards Heath
Holy Cross, Sheffield
Jesmond Parish Church
Living Word International (Word Increase Ministry, Rwanda)
Lochee Baptist Chapel
Louvain-la-Neuve, Belgium
Oldham Bethel Church
Proclamation Institute, Zambia Bible College
Redeemer, Folkestone
Second City Church (North Greater Manchester)
St Catherine's, Houghton on the Hill
St Clement's, Manchester
St Clement's, Openshaw
St Cuthbert's, Wood Green
St Laurence, Appleton
St Mary's, Wheatley
St Matthew's, Cambridge
St Matthew's, St Leonard's on Sea
St Peter's, Rock Ferry
St Thomas, Kilnhurst
Wellfield Church, Leyland		 2021
2020
General
Total
Total
funds
funds
funds
£
£
£
5,000
5,000
-
2,000
2,000
2,000
5,000
5,000
-
5,000
5,000
-
2,000
2,000
2,000
5,000
5,000
-
2,000
2,000
2,000
3,000
3,000
3,000
-
-
2,000
3,000
3,000
-
-
-
3,000
-
-
2,000
3,000
3,000
-
-
-
3,000
-
-
5,000
-
-
3,000
3,000
3,000
-
-
-
1,500
-
-
5,000
-
-
5,000
4,000
4,000
4,000
3,000
3,000
-
5,000
5,000
-
-
-
2,000
2,000
2,000
-
-
-
2,000
2,000
2,000
2,000
1,500
1,500
-
-
-
3,000
-
-
3,000
5,000
5,000
-
-
-
4,000
2,000
2,000
-
-
-
3,000
62,500
62,500
61,500

Page 11

Gospel Partners Trust

Notes to the accounts for the year ended 31 December 2021 (cont.)

4. Governance and support costs
4. Governance and support costs
Basis of
apportionment
Administration costs
Actual
Finance costs
Independent examination
Actual
Bank charges
Actual		 2021
2020
Governance
Support
Designated
Designated
costs
costs
Funds
Funds
£
£
£
£
-
2,466
2,466
3,348
2,400
-
2,400
2,400
-
122
122
117
2,400
2,588
4,988
5,865

The Trustees intend that no support costs should be paid for out of donations made by donors ("Gospel Partners") to support grant making in furtherance of the object of the Trust. Anonymous donors have given funds to cover the fund-raising, governance and support costs, and the Trustees have designated these funds for this purpose.

Administration costs have been incurred in assessing grant applications and making grant payments, and these represent in the order of ninety per cent of the total administration costs.

Donated services have been provided in various practical ways. These were given on a voluntary basis, and have not been recorded in the accounts.

No Trustees received any remuneration or reimbursement for expenses during the period.

5. Tangible fixed assets
5. Tangible fixed assets Designated
funds
Software
£
Cost
At 1 January and 31 December 2021 601
Accumulated depreciation
At 1 January and 31 December 2021 (601)
Net book value
At 1 January and 31 December 2021 -
6. Debtors 2021 2020
Unrestricted Restricted Total Total
funds funds funds funds
General Designated
funds funds
£ £ £ £ £
Income tax recoverable 26,175 500 - 26,675 26,655
7. Financial instruments 2021 2020
£ £
Financial assets
Financial assets measured at fair value through income and expenditure 83,821 85,667

Financial assets measured at fair value through income and expenditure comprise cash at bank.

Page 12

Gospel Partners Trust

Notes to the accounts for the year ended 31 December 2021 (cont.)

8. Statement of funds

atement of funds
Unrestricted funds
General fund
Designated fund
Restricted funds
Total funds		 Brought
Carried
forward
Transfers
Income Expenditure
forward
£
£
£
£
£
105,751
-
181,052
(180,250)
106,553
3,435
-
2,500
(4,988)
947
109,186
-
183,552
(185,238)
107,500
-
-
-
-
-
109,186
-
183,552
(185,238)
107,500

Restricted funds

The Trustees have implemented a policy of only accepting donations into general funds; as a result, no restricted fund income has been received in 2021 or 2020.

9. Anticipated grants
Pre-college
Theological college
Ministry initiatives		 2021
2020
Anticipated
Total
Total
Provisionally
repeat
approved
funding
£
£
£
£
-
23,500
23,500
34,800
-
58,000
58,000
59,500
-
76,000
76,000
56,000
-
157,500
157,500
150,300

Grants which are provisionally approved are scheduled for future payment, subject to course or project conditions being met at the time of payment, sufficient funds being available and final Trustee release for payment. Anticipated repeat funding represents potential future funding in the following year for people and projects which have been supported before, towards which the Trustees are likely to look favourably; this anticipated repeat funding is also subject to suitable applications being received, sufficient funds being available and Trustee approval.

10. Related party transactions

During the year ended 31 December 2021 Trustees or companies controlled by Trustees donated a total of £17,000 (2020: £21,920) to the Trust.

11. General information

Gospel Partners Trust is a charity registered in England.

Its principal address is St Helen's Church Office, Great St Helens, London EC3A 6AT.

Page 13

Gospel Partners Trust

Notes to the accounts for the year ended 31 December 2021 (cont.)

12. Statement of Financial Activities for the year ended 31 December 2020

INCOME FROM:
Donations
Total income
EXPENDITURE ON:
Charitable activities
Grant making
Pre-college
Theological college
Grants to gospel people in training
Grants for gospel projects
Cost of grant making
Governance and support costs
Total cost of charitable activities
Total expenditure
Net income/(expenditure)
Transfers between funds
8
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward		 INCOME FROM:
Donations
Total income
EXPENDITURE ON:
Charitable activities
Grant making
Pre-college
Theological college
Grants to gospel people in training
Grants for gospel projects
Cost of grant making
Governance and support costs
Total cost of charitable activities
Total expenditure
Net income/(expenditure)
Transfers between funds
8
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward		 2020
Unrestricted
Restricted
Total
funds
funds
funds
General
Designated
funds
funds
£
£
£
£
183,307
2,400
-
185,707
183,307
2,400
-
185,707
Pre-college
Theological college		 (66,800)
-
-
(66,800)
(84,000)
-
-
(84,000)
(150,800)
-
-
(150,800)
(61,500)
-
-
(61,500)
(212,300)
-
-
(212,300)
-
(5,865)
-
(5,865)
(212,300)
(5,865)
-
(218,165)
(212,300)
(5,865)
-
(218,165)
(28,993)
(3,465)
-
(32,458)
2,320
-
(2,320)
-
(26,673)
(3,465)
(2,320)
(32,458)
132,424
6,900
2,320
141,644
105,751
3,435
-
109,186

Page 14