Dagenham Gospel Trust (A company limited by guarantee) Report and Financial Statements for the year ended 31 December 2024 Charity No: 1101492 Company No: 4964578 'AEBC3UQA• 1810912025 COMPANIES HOUSE A16
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Dagenham Gospel Trust Report and Financial Statements- 31 December 2024 Annual Report for the year ended 31 December 2024 The trustees are pleased to present their annual report together with the financial statements of the charity for the year ended 31 December 2024 which are also prepared to meet the requirements for a directors, report and accounts for Companies Act purposes. The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, 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 (FRS 102) (effective 1 January 2015). Reference and Administrative Information Charity Name". Charity registration number.. Company registration number.. Dagenham Gospel Trust 1101492 4964578 Registered Office: 86 Rogers Road, Oagenham, RM10 8JX Trustees Simon Jordan Karen Foster Helen Read Kay Tidman Chair of Trustees Secretary Sydnie Jordan Indepondent Examiner Alan Gray FCA Chartered Accountant 73 Shepherds Hill Harold Wood RM3 ONP Objectlves and Activities Objects The objects of the Charity stated in the Memorandum and Articles of Association are the advancement of the Christian Faith particularly in the London Borough of Barking and Dagenham by the support, deployment and Iraining of Christian ministers and workers committed to the proclamation and teaching of the Word of God and testimony of Jesus Christ as set forth in Scripture and the provision of other resources for Christian ministry. Activities The activities of the Trust flow from its objects and are split between the support and deployment of Christian workers and the training of Christian workers. When planning our activities, the Trustees have considered the Commission's guidance on public benefit and the specific guidance on charities for the advancement of religion. Support and deployment of Christian workers From August 2024, the Trust employed Matthew Harvey as an Assistant Minister, seconded to St George's Church in Dagenham. Training of Christian workers From time to time the Trust also makes grants to train men and women in Christian ministry. The Trustees did not make any grants in 2024. Page 2
Dagenham Gospel Trust Report and Financial Statements- 31 December 2024 Achievements and Performance Highlights included- Matthew Harvey's secondment to St George's Church as a lay assistant minister. He will be trained in all appropriate aspects of parish ministry by the incumbent over the next 3 years. This includes overseeing two of the after-school children's clubs that were previously run by Shona Hannant whose employment by the Trust ended in 2023 when she left to take up a new post. Financial Review The Trust continued to receive a mixture of regular and one-off donations from individuals and churches. Income increased from £21.561 in 2023 to £69,633. The main contributor was donations and grants towards the Assistant Minister fund. Expenditure increased from £22,019 in 2023 to £28,447. This reflected Shona Hannant's employment ending in September 2023 and Matthew Harvey's employment beginning in August 2024. As at 31 December 2024, the accounts show a fund balance of £116,798, Donated servlc•8 Donated services were provided for accounting and general administration on a voluntary basis. No Trustees received any remuneration during the period. Reserves pollcy The Trustees have a policy where funds held by the Trust should be no less than the annual salary cost. This is to ensure that staff can be employed for the coming year and to allow time to raise the necessary funds. Plans for Future Periods Based on the Trust's resenrfes and pledges from current donors, the Trustees forecast that the Trust's commitments in 2025 will be met in full. This includes the employment costs of an Assistant Minister, seconded to St George's Church. Page 3
Dagenham Gospel Trust Report and Financial Statements- 31 December 2024 Structure, Governance and Management Governing Document The organisation is a Charitable Company Limited by Guarantee. incorporated on 14 November 2003 and registered as a charity on 13 January 2004. The Company was established under a Memorandum of Association which established the objects and powers of the Charitable Company and is governed under ils Articles of Association. Appolntment of Trustees The directors of the company are also charity trustees for the purposes of charity law. Under the requirements of the Memorandum and Articles of Association a minimum of three Trustees must be in office at any one time and at each AGM one third of the Trustees must retire but may be reappointed. The Trust currently has four Trustees. Individuals are selected on the basis of Christian maturity and their commitment to the aims and objectives of the Trust. Under the Articles of Association, all Trustees are required to sign assent to the definition of the Christian Faith described in the Articles, on appointment and annually thereafter. Trustee Inductlon and Training The chairman and secretary of Dagenham Gospel Trust will provide new Trustees with copies of the Trust's governing documents and the documents for new trustees published by the Charity Commission and will brief them regarding the operation of the Trust and their duties and responsibilities as a trustee of the Trust. The chairm8n and secretary of the Trusl will arrange ongoing training for Trustees from time to time. Management and Admlnlstratlon The Trustees meet at least iwice a year to review the perfomiance and finances of the Trust and other issues that arise Each Trustee has one vote, and the chairman has an additional casting vote. The Trustees have appointed a secretary lo handle correspondence with donors, book-keeping, Gift Aid reclaim, the administration associated with the employment of Christian workers and other day-to-day administration. This work is done on an enlirely voluntary basis. Related Partles The Trust has a separate legal and financial identity from St George's Church but has a close association with it in that the Christian workers it currently employs and pays for are on the ministry team at St George's. Three of the four current trustees are on the Electoral Roll of the church, two of whom serve on its Parochial Church Council. Page 4
Dagenham Gospel Trust Report and Financial Statements- 31 December 2024 Risks The Trustees have considered the major strategic, financial, and operational risks which the Trust faces and confirm Ihat, through regular Trustees, meetings and other reviews, necessary steps can be taken to lessen these risks. The Trustees are monitoring the economic situation in the UK and are keeping the Trust's financial position under review. The main risk is donors reducing or ending their regLJlar giving as a result of the rising cost of living. At the present time the financial position of the Trust remains healthy. However, the Trustees intend to engage with current donors, and seek new donors, to bolster the Trust's income. Appropriate insurance is taken out to cover against employerfs and public liability- Approved by the Trustees on and signed on their behalf by.. JeYa. Slmon Jordan Chair of Trustees Page 5
Independent Examiner's report to the trustees of Dagenham Gospel Trust I report to the trustees on my examination of the accounts of the above charity ('the Trust") for the year ended 31 December 2024. 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 CharitiesAct 2011 {"the ACV). I report in respect of my examination of the Trust'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 Act. Independent examiner's statement I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me reasonable cause to believe that in any material respect.. The accounting records were not kept in accordance wrth section 130 of the Charities Act. or The accounts did not accord with the accounting records., or The accounts did not comply with the applicable requiremenls concerning the form and content of the accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair, view which is not a matter considered as part of an independent examination. 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. Alan Gray FCA Chartered Accountant 73 Shepherds Hill Harold Wood RM3 ONP 12 Sepiember 2025 Page 6
Dagenham Gospel Trust Report and Financial Ststements - 31 December 2024 Statement of Financial Activities {including Income and Expenditure Account) for the year ended 31 December 2024 Unrestricted funds 2024 2023 Restricted fund8 2024 2023 Total funds 2024 2023 Not08 Income and èndowmonts from: Donations & legacies Grants Interest 13,268 7.695 43.419 11,344 3,288 9.750 56,677 11,344 1,612 10,983 9,750 828 1,612 828 Totsl Income and 8ndowm•nts 14,870 8,523 54.763 13,038 69,633 21,561 Expendltur• on.. Staff costs Grants Management and administration 27,882 21.698 27.882 21,698 565 321 665 321 Total •xpèndStur• 565 321 27,882 21,698 28,447 22,019 Net Incomftllexpendlturo) 14.305 8.202 26,881 18,6601 41.186 (458) Transf•rn b•tw••n lund• Net movement In fund8 14,305 (798 26,881 340 41,188 458 Total funds brought forward 74,048 75,644 766 426 76,612 76,070 Totsl fvnds carrled forward 89,151 74,846 27,647 766 116,798 75,612 Page 7
Dagenham Gospel Trust Report and Financial Statements - 31 December 2024 Balance Sheet as at 31 December 2024 Total funds 2024 Total funds 2023 Notes Current assets Debtors Cash at bank and in hand 11,089 105,709 116798 2,053 73,559 75,612 Current liabilities Creditors.. amounts falling due within one year 10 Total net a880ts 116,798 75,612 Represented by.. Restricted income funds Unrestricted funds 11 11 27,647 89,151 116,798 766 74,846 75,612 Audit Exemption Statement For the year ending 31 December 2024 Ihe company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit of rts accounts for the year in question in accordance with section 476. The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies, regime. Approved by the Trustees on and signed on their behalf by.. Simon Jordan Chair of Trustees Page 8
Dagenham Gospel Trust Report and Financial Statements - 31 December 2024 Notes to the accounts for the year ended 31 December 2024 1. Accounting policies al Basls of preparatlon 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 2015) - (Charities SORP (FRS 102>), the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) and the Companies Act 2006. Dagenham Gospel Trust meets the definition of a public benefrt enlrty under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s). b) Preparatlon of the accounts on a golng concern basls 8ased on pledges from current donors, the Trustees forecasl that the salary cost for 2025 will be met in full. cl Income Voluntary income is received by way of donations and is included in full in the Statement of Financial Activities when receivable. Gift Aid is recognised on the date of the donation and recovered on an annual basis. The value of seNices provided by volunteers has not been included. d) Fund accountlng Unrestricted funds are donations receivable without further specified purpose and ar8 available as general funds. Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets these criteria is charged to the fund. Details of the nature and purpose of each fund is set out in note 12. é) Expendlture Expendrture is recognised once there is a legal or construclive obligation to make a payment to a third party, it is probable that settlement will be required and the amouni of the obligalion can be measured reliably. fl Penslons The Trust operates a defined contribution pension scheme with respect to the Assistant Minister. 2. Legal status of the Trust The company was incorporated on 14 November 2003 as a company limited by guarantee. Every member of the company promises if the company is dissolved while he or she is a member, or within 12 months afteards. to pay up to £1 towards the costs of dissolution and the liabilities incurred by the company while the contributor was a member. Page 9
Dagenham Gospel Trust Report and Financial Statements- 31 December 2024 Notes to the accounts for the year ended 31 December 2024 (cont'd) 3. Donallons & legacies Unrestricted funds Restricted fund8 Total funds 2024 Totsl funds 2023 Donations under Gift Aid Income Tax recoverable for Grfl Aid donations Other donations Legacies 9,862 2,466 930 34,495 8,624 300 44,357 11,090 1,230 8,210 2,053 720 13,258 43,419 56,677 10,983 4. Grants Unrestricted funds Restrlcted funds Total funds 2024 Total funds 2023 Christ Church. Leyton Essex and East London Good Stewards Trust Sola Trust St John's, Walmthamstow Emmanuel, Wimbledon St Peter's Barge 1,000 6,000 1,000 1,000 6,000 1,000 3,750 6,000 9,750 11,344 11,344 6. Staff costs and numbers Staff costs were as follows.. 2024 2023 Salaries and wages Employer's National Insurance contributions Pension costs (see Note 6) Housing 11,972 18,466 2,090 13.820 27.882 3,232 21,698 The Trust benefitted from the full amount of the Employment Allowance for 2023124. The average number of employees during the year.. 2024 2023 Assislant Minister Children's and Families Worker Matthew Harvey was employed from August 2024 and seconded as Assistant Minister to St George's Church. No employee received total emoluments (excluding employer pension costs) above £60,000. Page 10
Dagenham Gospel Trust Report and Financial Statements - 31 December 2024 Notes to the accounts for the year ended 31 December 2024 (cont'd) 6. Pension costs Paid Outstanding Total Total contrlbutlong contrlbutlon8 ¢ontrlbutlon$ ¢ontribution8 2024 2023 Assistant Minister Children's and Families Worker 2,090 2.090 3.232 3,232 2,090 2,090 Defined Contrlbutlon The Trust operales a defined contributron pension scheme with respect to the Assistant Minister. The scheme is operated on a non-contributory basis. The Trust makes monthly contributions equivalenl to 17.50/0 gross salary. 7. Management and administration Unrestricted Restricted funds funds Total funds 2024 Total funds 2023 Insurance Companies House Independent Examination 531 531 308 13 565 565 321 Donated services have been provided for accounting, general administration and legal advice. This was all given on a voluntary basis, and is not recorded in the accounts. No Trustees received any remuneration or reimbursement for expenses during the period. 8. Taxatlon The charitable company is exempt from corporation tax on its charitable activities Page11
Dagenham Gospel Trust Report and Financial Statements - 31 December 2024 Notes to the accounts for the year ended 31 December 2024 (cont'd) 9. Debtors 2024 2023 Income Tax recoverable for Gift Aid donations 11,089 11,089 2,053 2,053 10. Creditors: arnounts falling due wlthln one year 2024 2023 Income Tax and National Insurance Salary adjuslments (back pay) 11. Movements In funds At31 D•e•mb•r 2023 Income Expendlture Tran8fors Gainsl At31 (los•e•) D•e•mber 2024 Re#trletsd fund•: A$51Stant Minister Families & Young People's Work 53,094 1,669 127.8821 25,212 2,435 Totsl r•8trlet•d fund• 766 54,763 27,882 Unrestrlctèd fund8: General fund$ 74,846 14,870 (5651 89,151 Totsl unrestrl¢ted funds 74,846 14,870 565 89,151 Total fund• 7S,612 69,633 28,447 116,798 12. Purposes of restricted fund8 Assistant Minister- Employment of an Assistant Minister seconded to St George's Church. Families & Young People's Wotk- Employment and training of Families and Young People's Workers at St George's Church. 13. Related party disclosures Trustees Karen Foster and Simon Jordan were members of St George's PCC in 2024. Page 12