THE LONDON NOAH TRUST
FINANCIAL STATEMENTS 31 MARCH 2025
Charity Number 1097319
THE LONDON NOAH TRUST
INDEX TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
Members of the Board and Professional Advisers
Trustees Annual Report
Report of the Independent Examiner
Statement of Financial Activities
Balance Sheet
Notes to the Financial Statements
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THE LONDON NOAH TRUST
MEMBERS OF THE BOARD AND PROFESSIONAL ADVISERS
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|Principal|Address|
|Board|of Trustees|
|Bankers|
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35 Hamilton Terrace London NW8 9RG
Michael Sookias Philomena Freeman Arbuthnot Latham Royex House Aldermanbury Square London EC2V 7NU
Independent Examiners
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|---|---|---|
|Shaw Gibbs|(Audit)|Limited|
|Wey|Court West|
|Union|Road|
|Farnham|
|Surrey|
|GU9|7PT|
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THE LONDON NOAH TRUST TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2025
The trustees have pleasure in presenting their report and the financial statements of the charity for the period ended 31 March 2025.
Legal Status
The London Noah Trust was created by a Declaration of Trust dated 18th February 2003.
The London Noah Trust is a Registered Charity, charity number 1097319.
Trustees Appointments
Trustees are appointed by a resolution of the trustees passed at a special meeting.
Objectives and Activities/Achievements and Performance/Public Benefit The trustees hold the trust fund and income on trust to apply it for general Christian charitable purposes in Europe, Asia, Africa and America. The trustees have taken into account the Charity Commission’s general guidance on public benefit when reviewing and planning our activities.
During the year the Trust achieved the following:
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a) Supported Christian Ministers working worldwide.
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b) Supported the education of children through Compassion. c) Supporting UCB
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d) Supporting Christian buisnesses
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e) Supporting families
Furthermore we made a number of small donations to other organisations.
We plan to continue with the above commitments in 2025/2026, funds permitting.
Reserves
Reserves are maintained at a low level, the regular charitable expenditure is funded through the regular monthly donations received.
Financial Review
The financial activities and position of the trust are as shown in the annexed accounts.
General
The financial statements comply with current statutory requirements, the requirements of the Statement of Recommended Practice and with the charity's governing document.
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THE LONDON NOAH TRUST
TRUSTEES REPORT
FOR THE YEAR ENDED 31 MARCH 2025
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Trustees
The Trustees who served the charity during the period were as follows:
Mr Michael Sookias Ms Philomena Freeman
Trustees Responsibilities
Under the Charities Act 2011, the Trustees are required to prepare a statement of accounts for each financial year which gives a true and fair view of the state of the affairs of the charity at the end of the financial year and of the incoming resources in the year. In preparing the statement, the Trustees are required to:
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a) Select suitable accounting policies and apply them consistently b) Make judgements that are reasonable and prudent c) State whether the policies and standards have been followed, subject to any material departures disclosed and explained in the statement of accounts
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d) Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue its operations
The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy the financial position of the charity at any time, and enable the Trustees to ensure that any statement of account prepared by them complies with regulations under Section 132(1) of the Charities Act 2011. They are also reasonable for safeguarding the assets of the Trust and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
SignedQeon. behaif of the trusteesEee Trustee : Philomena Freeman Approved by the Trustees on: 242.1. Lb
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THE LONDON NOAH TRUST
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REPORT OF THE INDEPENDENT EXAMINER
TO THE TRUSTEES OF THE LONDON NOAH TRUST
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| report on the financial statements for the period ended 31 March 2025 as set out on pages 6 to 11.
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The accounts have been prepared in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.
Respective responsibilities of trustees and independent examiners The charity's trustees consider that an audit is not required for this year under Section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. 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 Act’).
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It is my responsibility to: - examine the accounts under section 130 of the 2011 Act; - to follow the procedures laid down in the General Directions given by the Charity Commissioner under section 145 of the 2011 Act; and
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- to state whether particular matters have come to my attention.
Basis of independent examiner's statement
My examination was carried out in accordance with General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently | do not express an audit opinion on the accounts.
Independent Examiner's Statement In the course of my examination, no matter has come to our attention
- which gives me reasonable cause to believe that, in any material respect, the requirements:
(a) to keep accounting records in accordance with section 130 of the 2011 Act; and
(b) to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the 2011 Act have not been met; or
- to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
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THE LONDON NOAH TRUST
REPORT OF THE INDEPENDENT EXAMINER TO THE TRUSTEES OF THE LONDON NOAH TRUST
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 | might state to the charity's Trustees those matters | am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, | do not accept or assume responsibility to anyone other than the parent charity and the charity's Trustees as a body, for my work or for this report.
Mark Dickinson FCA Shaw Gibbs (Audit) Limited Wey Court West Union Road Farnham Surrey GU9 7PT
Dated
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2 / |
ew ) 2H2G
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THE LONDON NOAH TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025
| Restricted | Unrestricted | Total | Total | |||
|---|---|---|---|---|---|---|
| Funds | Funds | Funds | Funds | |||
| Notes | 2025 | 2025 | 2025 | 2024 | ||
| £ | £ | £ | £ | |||
| Income and | Endowments | |||||
| Voluntary income | 388,864 | 11,397 | 400,261 | 497,751 | ||
| Income tax recoverable via gift aid | - | 2,349 | 2,349 | 3,852 | ||
| Interest received | - | 4,759 | 4,759 | 5,165 | ||
| 388,864 | 18,505 | 407,368 | 506,767 | |||
| TotalIncome | 2 | 388,864 | 18,505 | 407,368 | 506,767 | |
| Expenditure | ||||||
| Charitable activities | ||||||
| Donations | 3 | 370,579 | 17,507 | 388,086 | 598,082 | |
| Trustees expenses | 4 | - | 662 | 662 | ||
| Accountancyfees | 5 | - | 792 | 792 | 780 | |
| Bankcharges | 1,595 | - | 1,595 | 2,053 | ||
| Book keeping | - | 960 | 960 | 1,020 | ||
| Sundryexpenses | - | - | - | - | ||
| 372,174 | 19,921 | 392,095 | 601,935 | |||
| Total Expenditure | 372,174 | 19,921 | 392,095 | 601,935 | ||
| Net Movement in Funds fortheYear | 16,690 | (1,417) | 15,273 | (95,168) | ||
| Transferbetweenfunds | 56 | (56) | - | - | ||
| Fundsas at | 1 April 2024 | 125,886 | 26,780 | 152,666 | 247,832 | |
| Fundsasat31 | 31March2025 | 142,633 | 25,307 | 167,940 | 152,665 |
The Statement of Financial Activities includes all gains and losses recognised in the year.
All of the activities of the charity are classed as continuing.
The notes on pages 9 to 11 form part of these financial statements
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THE LONDON NOAH TRUST
BALANCE SHEET FOR THE YEAR ENDED 31 MARCH 2025
| 2025 | 2025 | 2024 | 2024 | ||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| Current Assets | |||||
| Income tax recoverable | 2,348 | 4,134 | |||
| Cash at Bank | 166,522 | 149,461 | |||
| Total Current Assets | 6 | 168,870 | 153,595 | ||
| Current Liabilities | 7 | 930 | 930 | ||
| NetCurrent Assets | 167,940 | 152,665 | |||
| Net Assets | 167,940 | 152,665 | |||
| Restricted Funds | 8 | ||||
| Funding forArmenia Project | |||||
| Balance as at 1 April 2024 | (9) | (9) | |||
| Net Movement in Funds for the Year | 9 | = | |||
| Balance as at 31 March 2025 | - | (9) | |||
| Funding for Christian Ministers - E. Hovsepian | |||||
| Balance as at 1 April 2024 | 15,269 | 86,401 | |||
| Net Movement in Funds for the Year | (13,525) | (71,132) | |||
| Balance as at 31 March 2025 | 1,744 | 15,269 | |||
| Funding for Salt & Light | |||||
| Balance as at 1 April 2024 | 250 | 250 | |||
| Net Movement in Funds for the Year | - | - | |||
| Balance as at 31 March 2025 | 250 | 250 | |||
| Funding forM Borji | |||||
| Balance as at 1 April 2024 | 110,376 | 146,341 | |||
| Net Movement in Funds forthe Year | 30,263 | (35,965) | |||
| Balanceasat31March2025 | 140,639 | 110,376 |
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THE LONDON NOAH TRUST
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BALANCE SHEET (continued)
FOR THE YEAR ENDED 31 MARCH 2025
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2025 2025 2024 2024
Notes £ £ £ £
Unrestricted Funds
Balance as at 1 April 2024 26,779 14,849
Net Movement in Funds for the Year (1,415) 11,931
Balance as at 31 March 2025 25,363 26,779
Total Funds 167,940 / 152,665
These financial statements were approved by the members of the Board
and gre signed on their behalf by:
+ Vee
PDate:Freeman 23-7 - Zz, 6
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The nates on pages 9 to 11 form part of these financial statements
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THE LONDON NOAH TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
1. Accounting Policies
a) Basis of Accounting
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 financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK 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 the Charities SORP (FRS 102) published on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
The trust constitutes a public benefit entity as defined by FRS 102.
b) Taxation
As a qualifying charity, the Trust is not liable to UK taxation.
c) Funds
General funds represent the funds of the Trust that are not subject to any restrictions regarding their use and are available for application on the general purposes of the Trust.
Details of the nature and purpose of the restricted funds are shown in note 8 to the accounts.
d) Resources Expended
Resources expended relate to charitable expenditure in furtherance of the charity's objects. Other resources expended relate to administration.
- Income
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Total income was split between the funds as follows: 2025 2024
£ £
Restricted 388,864 478,711
Unrestricted 18,505 28,057
407,368 506,768
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THE LONDON NOAH TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
| 3. | Donations | |||
|---|---|---|---|---|
| Unrestricted | 2025 | 2024 | ||
| £ | £ | |||
| Support of Christian Ministers and | their families | 2,400 | 2,400 | |
| Compassion | 509 | 604 | ||
| Outreach Work | 1,103 | 676 | ||
| UCB | 180 | 180 | ||
| J Kabunga | - | 100 | ||
| Freedom Church | - | 570 | ||
| Lighthouse Grant | 4,400 | 7,225 | ||
| Other Charity Donations | 8,915 | 2,571 | ||
| 17,507 | 14,326 | |||
| Restricted | ||||
| Funding for Christian Ministries - | E Hovsepian | 61,000 | 246,000 | |
| M Borji | 309,579 | 337,756 | ||
| 370,579 | 583,756 | |||
| 388,086 | 598,082 |
During the year bank charges of £1,595 (2024: £1,148) were made out of restricted funds. All other expenditure was made out of unrestricted funds in both 2024 and 2025.
4. Trustees’ Remuneration and Expenses
| Remuneration and Expenses | ||
|---|---|---|
| 2025 | 2024 | |
| £ | £ | |
| Trustees' Expenses- Petrol & Meetings | = | = |
| Conferences | 662 | = |
| 662 | - |
There was no remuneration paid to the Trustees in 2025 nor 2024 for their role as trustee, expenses were reimbursed to Trustees as detailed above. During the year P Freeman was paid £960 for bookeeping services for the charity (2024: £1,020).
5. Fees Payable to Independent Examiners
| 2025 | 2024 | ||
|---|---|---|---|
| £ | £ | ||
| Accountancy | Fees | 792 | 780 |
| 792 | 540 |
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THE LONDON NOAH TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
6. Current Assets
| Current assets were split between the funds as follows: | 2025 | 2024 | ||
|---|---|---|---|---|
| £ | £ | |||
| Restricted | 142,633 | 125,886 | ||
| Unrestricted | 26,237 | 27,709 | ||
| 168,870 | 153,595 | |||
| 7. | Current | Liabilities | ||
| 2025 | 2024 | |||
| £ | £ | |||
| Accruals & Deferred Income | 930 | 930 | ||
| 930 | 930 | |||
| Current liabilities were split between the funds as follows: | 2025 | 2024 | ||
| £ | £ | |||
| Restricted | te | _ | ||
| Unrestricted | 930 | 930 | ||
| 930 | 930 |
8. Funds Analysis
| Brought | Incoming | Resources | Transfer | Transfer | Carried forward | ||||
|---|---|---|---|---|---|---|---|---|---|
| forward | resources | expended | between | funds | 2025 | 2024 | |||
| £ | £ | £ | £ | £ | £ | ||||
| Unrestricted | funds | ||||||||
| General funds | 26,779 | 18,506 | (19,921) | (56) | 25,307 | 26,779 | |||
| Restricted funds | |||||||||
| Armenia | Project | (9) | - | - | 9 | - | (9) | ||
| Funding for Christian Ministries | 15,269 | 47,475 | (61,000) | 1,744 | 15,269 | ||||
| Salt and Light | 250 | - | - | 250 | 250 | ||||
| M Borji | 110,376 | 341,390 | (311,174) | 47 | 140,639 | 110,376 | |||
| 125,886 | 388,865 | (372,174) | 56 | 142,633 | 125,886 | ||||
| TotalFunds | 152,665 | 407,371 | (392,095) | - | 167,940 | 152,665 |
Armenia Project
Funding for projects in Armenia.
Funding for Christian Ministries
Funding for Christian Ministries was created for the sole use of Mr E Hovsepian.
Salt & Light
Funding for weekly bible study groups and monthly meetings with Christian speakers.
M Borji
Funding for Article 18 ministry.
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