Doujsign Envelope ID.. s5C3c18F￿9Ig414c-BB72-731IES69AG46
CENTRAL GH TRUST
(A COMPANY LIMITED BY GUARANTEE)
TRUSTEES, REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
,Thiiiiill
*AEBWJYGZ•
2610912025
COMPANIES HOUSE
A29
REGISTERED COMPANY NO. 06656919
REGISTERED CHARITY NO. 1125717

Docusign Envelope ID.. 55C3C1BF.0919414C_BB72_7311E569ACA8
CENTRAL GH TRUST
CONTENTS
Page
Company Information
Trvstees. Report
Independent Auditors, Report
7-10
Statement of financial activities
li
Balance sheet
12
Cashflow statement
13
Notes to financial statements
14-25

Dow5ign Envelope ID.. 55c3c1BF-D91￿14C-8B72-73ll E569ACA8
CENTRAL GH TRUST
COMPANY INFORMATION
Trustees
Laurie Pollard
Colin Barnes
Oliver Whiley
Cyril Parsons
Company secretary
Christopher Stedman
Registered office
Central GH Trust
Noble House
Eaton Road
Hemel Hempstead
Herts HP2 7UB
Charity reglstration number
1125717 {England & Wales)
Company registration number
06656919 (England & Wales)
Independent auditors
Saffery LLP
71 Queen Victorla Street
London EC4V 4BE
Bankers
Natwest Bank plc
Watford Town Centre Branch
72-74 High Street
Watford
Herts WD17 2GZ
Investment Managers
Cazenove Capital
l London Wall
London
EC2Y SAU
Page 2

Oo¢uslgn Envelope ID.. 55C3Cl8F￿9ly14c.8872-7311ES69ACAa
CENTRALGH TRUST
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
The Trustees present their annual report and the audlted flnancial statements for the year ended
31 December 2024.
Structure, Governance & Management
Constitution
The charity was incorporated on 25 July 2008 as a company limited by Buarantee and was registered with
the Charity Commission on 4 September 2008. The charity is governed by its Memorandum and Articles of
Association under the Companies Act 2006. The liablllty of each member is limited to £10 In the event of a
winding up.
Trustees
The Trustees met regularly during the year. The power to appoint new Trustees is vested in the exlsting
Trustees. There is an informal interview, indurtion and tralnlng process for any new Trustee. The Trustees
who serrfed during the year are shown below:
Laurie Pollard
Colin 8arnes
Oliver Whiley
Cyril Parsons
Public benefit
The Trustees have referred to the guldance contalned In the Charity Comm1551on'$ 8eneral guidance on
public benefit when reviewing the alms and objectives and In planning the future activities. In partlcular the
Trustees consider how planned donations will contribute to the aims and objectives they have set. The
Trustees consider the current policy for making donations delivers public benefit. Details of th'e objects
which form the basis of this policy are given later in this report. In selecting Christian religious charities for
the receipt of grants, the charity is mindful of the requirement Ihat such charities themselves demonstrate
public benefit.
Risk review
The major 5trateglc, business and operational risks whlch the charity faces are under continuous review bv
the Trustees who ensure that these risks are managed effectively.
The Trustees have identified that the principal risk and uncertainty IS the possible failure of recipient trusts
to repay loans or the balance of loans on time (for whatever reason) which may impact on future lending to
other trusts needing support. Lesser ri5k5 are that grants could be used for purposes other than those
described in formal applications and that gospel halls could be used for non-charltable purposes.
The trustees mitigate these risks with the following procedures:
Administrative arrangernents are in place to prevent misappropriation of cash funds by local co-
ordinators,
Periodic reviews are rnade to ensure that local trustees abide by their agreement on loan repayment
terms. In the event of real difficulties a revised repayment schedule may be agreed.
The reserves policy is such that normally sufficient cash is held to enable programmes of support to
continue if loan repayments fall short.
Page 3

Oocu5ign Envelope ID.. 55C3C1BF-D919414C-BB72-7311E569ACA8
CENTRAL GH TRUST
TRUSTEES, REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
Contact is maintained with trustees of local trusts some of which carry temporary cash surpluses
which they would be willin8 to lend to CGHT.
Where CGHT supports a local project it is now part of standard procedure to request a financial
statement showing total cost and sources of finance to confirm that CGHT'S contribution has been
included in full.
Trustees and affiliates maintain contact with local trustees and local congregation members and
would quickly become aware of any changes in use which would be a breach of the grant or loan
application. There is a fall-back clause in loan agreements that enables CGHT trustees to recall the
balance of any loan 8ivin8 three months. notice in writlng.
Objertives and Actfvlties
The objects of the Charlty are:
The advancement of the Christian faith in particular by the provision of churches, gospel halls and
other structures and facilities for Christian worship and the 8ivin8 of 35S15tance to those involved in
their construction, repair, improvement and maintenance in such ways as are exclusively charitable,
and;
Such other charltable purposes as the Mernbers see flt.
The Charitrfs princlpal objectives are:
To provide support and guidance. regarding the construction and maintenance of places of worship,
and
To asslst other Chrlstlan rellglous charitles by provldlng grants and loans for the development of
places of worship.
Achlevements and Performance
Grant makinq
The Charity looks to achieve its objectives by collecting donations in order that it may lend or grant money to
Christian religious charities in need. Grant applications for funds are considered by a committee.
Durin8 the year the Charity made 8rants of £734,24912023.' £1,235,297), and at the year-end there were
loans made to Christian religious charities of £6.558.464 (2023: £5,629.1871,
Financial Review
The net movement in funds amounted to a surplus of £1,328,651 {2023.. deficit of £964,297), of which
deficit of £571,349 related to unrestricted funds {2023., deficit of £419,727} and a surplus of £1,900,000
related to restricted funds. These movements are detailed in the statement of financial activities on page 11.
Following the closure or merger of several gospel hall localities surplus funds arising from the sale of land &
property have been donated to CGHT by local trustees.
It is the intention of Trustees to maintain the level of cash resources at a level which allows expenses and
grants to be met.
Page 4

DoussSgn En￿lOpe ID.. 5SC3C18F.D919414C-8872-7311 E569ACA8
CENTRAL GH TRUST
TRUSTEES, REPORT
FOR THE YEAR ENOED 310ECEM8ER 2024
Reserves policy
CGHT'S aim is to retain sufficient cash to enable it to support its mainstream charitable purpose of providing
financial assistance to charitable trusts engaged in the provision of churches, gospel halls and facilitie5 for
Christlan worship.
As a general policy. the trustees alm to hold approximately £2 - £5 million as a cash reser4e, to fund the
increasing requests for support from the charity's beneficiaries.
The trustees are aware that with the ongoing cycle of loan repayments, this reser4e would be entirely
adequate. They are also aware of the fact that there are local trusts wlth slmllar charitable purposes holdln8
Significant surplus cash and thal loans could be arranged at short notice.
Peareth Hall Farm was sold in June 2024 for £348,OiJJ less costs.
At 31 December 2024, the level of general unrestricted funds was £17,817,723 {2023'. £18,386,072) and
restrlcted funds was £1,900,00012023'. £nlll. Excluding loans made to and received from other trusts, loans
from individuals, tangible fixed assets, and investment property the "free reserves" of the charity were
£14.411.86912023: £15,160,249).
Investment policy
Any surplus resources are held as cash to allow 8rants and loans to be made promptly and surplus funds
attract interest.
The previously used Vision Investment Fund was ended on 20 June 2024 the trustees received the closing
balance of £7,782,900. In anticipation af this closure, arrangements were in hand for the investment of
CGHT'S surplus funds with Ca2enove. Followlng liaison with their charity team the trustees a8reed a mixed
portfolio of:
al Treasury Bills
b) Liquidity Funds
c) Cash Deposits
On 17 July 2024 the trustees invested £7,750,000 with C32enove. At 31 December 2024 the portfollo value
was £7,913,032.
Future Plans
The charity plans to contlnue to assist Chrlstian religious charities through loans and grants,
Post Balance Sheet Matters
The Luton loan of £1,200,000 wa5 repaid in its entirety in January 2025. A loan of £1,200,000 was made to
Gillingham in the same month.
Page 5

Dowsign Envelope ID: SSC3C18F.D919414C.BB72-7311E569ACA8
CENTRAL GH TRUST
TRUSTEES, REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
Trustees Responslbilities
The trustees (who are also directors of Central GH Trust for the purposes of company law) are responsible
for preparing the Trustees, Report and the financial statements in accordance with applicable law and
United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year which give a true
and fair view of the state of affairs of the charitable company and of the incoming resources and application
of resources, including the incorne and expenditure, of the charitable company for that year. In preparing
these financial statements, the trustees are required to:
select sultable accounting policies and then apply them consistentlv;
observe the methods and principles In the Charities SORP;
make judgernents and estirnates that are reasonable and prudent;
state whether applicable accounting standards have been followed, subject to any material
departures disclosed and explained in the financial statements;
prepare the financlal statements on the 80ing concern basis unless bt Is Inapproprlate to presume
that the charity will continue in business.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at
any time the financial position of the charitable company and enable them to ensure that the financial
statements comply with the Companies Aet 2006. They are a150 fespuiisible for safeguardin8 the assets of
the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and
other irregularities.
In so far as the trustees are aware:
there is no relevant audit information of which the charitable company's auditor is unaware; and
the trustees have taken all steps that they ou8ht to have taken to make themselves aware of anv
relevant audit information and to establish that the auditor is aware of that information.
This report was prepared in accordance with the special provisions of Part 15 of the Companies Art 2006
relatin8 to small companies.
Signed on behalf of the Trustees on
22 September 2025
Slqn¢d ty.
13
318CF0478...
Oliver tVhiFey
Trustee
Page 6

tyocvsign Envelope ID.. 55C3c18F_091￿l4c-BB72_73ll E569ACA8
CENTRAL GH TRUST
INDEPENDENT AUDITORS REPORT TO THE MEMBERS
FOR THE YEAR ENDED 31 DECEMBER 2024
Oplnlon
We have audited the flnancial statements of Central GH Trust for the year ended 31 December 2024 which
comprise the Statement of Financial Activities, the Balance Sheet. the Statement of Cash Flows and the notes
to the f inancial statements, including significant accounting policies. The financial reporting framework that
has been applied in their preparation is applica ble 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..
glve a true and falr vlew of the charltable company's state of affairs as at 31 December 2024 and of
its incomin8 resources and application of resources, includin8 its income and expenditure, for the
year then ended.
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting
Practice; and
have been prepared in accordance with the Companies Act 2006.
Basls for oplnlon
We conducted our audit In accordance wlth Internatlonal Standards on Auditing IUKI IISAS IUKII and
pplicable law. Our responsibilities under those standards are further described in the Auditoes
re5pon5ibilities for the audit of the financial statements section of our report. We are independent of the
charitable company 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 relatlng to 805ng concern
In auditing the financlal statements, we have concluded that the trustees, use of the going concern basls of
accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertalnties relating to events
or conditions that, Individually or collectively, may cast signifitant doubt on the charitable company's ability
to continue as a Eoing 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 annual report, other than the financial
statements and our audilor's report thereon. The trustees are responsible for the other information. 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.
Page 7

Do￿$Ign Envelope ID.. 55C3C1BF-D919414&8872-7311E569ACA8
CENTRAL GH TRUST
INDEPENDENT AUDITORS REPORT TO THE MEMBERS
FOR THE YEAR ENDED 31 DECEMBER 2024
Our responsibility is to read the other information and, in doing so, consider whether the other information
Is rnaterially inconsistent with the financial statement5 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
material misstatement of this other information we are required to report thai fact.
We have nothlng to report in this regard.
Opinions on other matters prescrlbed by the Companles Act 2006
In our opinion, based on the work undertaken in the course of the audit:
the Information 8iven in the Tru5tees' Report which includes the Dirertors, Report for the flnancial
year for which the financlal statements are prepared is conslstent wlth the financial statements, and
the Trustees, Report which includes the Dlrectors, Report has been prepared In accordance with
applicable legal requirements.
Matters on which we are required lo report by exception
In the light of the knowledge and understanding of the charltable company and Its environment obtalned In
the course of the audlt, we have not identified materlal misstatements in the Trustees. Report.
We have nothin8 to report in respect of the followin8 matters where the Companies Act 2006 requires us to
report to you if, in our opinion..
adequate accounting records have not been kept, or returns adequate for our audit have not been
recelved from branches not visited by us; or
the flnancial statements are not In agreement with the'accountln8 records and returns. or
certain disclosures of trustees, remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit; or
the trustees were not entitled to prepare the financial statements in accordance with the small
companies regime and to take advantage of the small companies exemption in preparing the
Trustees, Report.
Responsibilitles of trustees
As explained more fully in the Trustees. Responsibilities Staternent set out on page 6, the tiustee5 {who are
also directors of the charitable company for the purposes of company law) are responsible for the
preparation of the 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
statement5 that are free from materlal rnlsstatement, whether due to fraud or error.
In preparing the financial statements. the trustees are responsible for assessing the charitable companws
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 charitable company
or to cease operations, or have no realistic alternative to do so.
Page 8

Doujsign Envelope 10.. 55C3C18F-D919414C-B872-7311 E569ACA8
CENTRAL GH TRUST
INDEPENDENT AUDITORS REPORT TO THE MEMBERS
FOR THE YEAR ENDED 31 OECEMBER 2024
Audltorfs responsibllltles for the audlt of the financlal statements
We have been appointed as auditors under the Companies Act 2006 and report in accordance with
regulations made under that Art.
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 10 155ue an auditorfs report that
includes our oplnlon. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit
conducted in accordance with ISAS IUKI will always detert a material mi5Statement when it exists.
Misstatements can arise f rom fraud or error and are tonsidered 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.
Irregularities, Includln8 fraud, are Instances of non-compliance with laws and re8ulations. We design
procedures in line wrth our responsibilities, outlined above, to detect material misstatements in respect of
irregularities, including fraud. The specific procedures for this engagement and the extent to which these are
capable of detecting irregularities, including fraud are detailed below.
Identifying and assessing risks related to irregularities:
We assessed the susceptibility of the charitable company's financlal statements to materlal misstatement
and how fraud mlght occur, includlng through dlscu$51ons wlth the trustees, dlscusslons within our audlt
team planning meeling, updating our record of internal controls and ensuring these controls operated as
intended. We evaluated possible incentives and opportunities for fraudulent manipulation of the financial
statements. We identified laws and regulations that are of significance in the context of the charitable
company by discussions with trustees and updating our understanding of ihe sector in which the charitable
company operates.
Laws and regulatlons of direct slgnlflcance in the context of the charitable cornpany Include The Companies
Act 2006, and guidance issued by the Charity Commlssion for England and Wales .
Audit response to risks identified:
We considered the extent of compllance with these laws and regulatlons as part of our audit procedures on
the related financial statement items including a review of financial statement disclosures. We reviewed the
charltable company's records of breaches of laws and regulations, mlnutes of meetings and correspondence
with relevant authorities to identlfy potential material misstatements arising. We discussed the charitable
company's policies and procedures for compliance with laws and regulations with member5 of rnanagement
responsible for compliance.
Durin8 the planning meeting with the audit team, the engagement partner drew attention to the key areas
which might involve non-compliance with laws and regulations or fraud. We enquired of management
whether they were aware of any instances of non-compliance wlth laws and regulatlons or knowledge of any
actual, suspected or alleged fraud. We addressed the risk of fraud through management override of controls
by testing the appropriateness of journal entries and identifying any significant transactions that were
unusual or outside the normal course of business. We assessed whether judgements made in making
accounting estimates gave rise to a possible indication of management bias. At the completion stage of the
audit. the engagement partner's review included ensurlng that the team had approached thelr work wlth
appropriate professional scepticism and thus the capacity to identify non-compliance with laws and
regulations and fraud.
Page 9

Docysign Envelope ID.. 55C3C18F-0919414C-B872-7311E569ACA8
CENTRAL GH TRUST
INDEPENDENT AUDITORS REPORTTO THE MEM8ERS
FOR THE YEAR ENDED 310ECEMBER 2024
There are inherent limitations in the audit procedures described above and the further removed non-
compliance with laws and regulations is from the events and transactions reflected in the financial
statements. the less likely we would become aware of it. Also, the risk of not detecting a material
misstatement due to fraud is higher than the risk of not detecting one resulting from error. as fraud rnay
involve deliberate concealment by, for exarnple, forgery or intentional misrepresentations. or through
collusion.
A further description of our responsibilities Is avallable on the Financlal Reportln8 Council's website at.,
www.frc.or
auditorsres
onsibilities. This description forms part of our auditorfs report.
Use of our report
This report is made solely to the charltable company's members, as a body, in accordance with Chapter 3 of
Part 16 of the Companles Act 2006. Our audit work has been undertaken so that we might state to the
charitable company's members those matters we are required to state to them In an auditorfs report and for
no other purpose. To the fullest extent permitted by law, we do not accept or assume respon51blllty to
anyone other than the charitable company and the charitable company's members as a body, for our audit
work, for this report, or for the opinions we have formed.
eplember 2025
3001•09JF103•C•...
Cara Turtlngton (Senlor Statutory Auditor)
for and on behalf of Saffery LLP
Statutory Auditors
71 Queen VSctoria Street
London
EC4V 48E
Saffery LLP is eligible to act as an auditor in terms of section 1212 of the Companie5 Act 2006
Page 10

Docusign Envelope ID.. 5SC3C18F-D919414C-BB72-7311E569ACA8
CENTRAL GH TRUST
STATEMENT OF FINANCIAL ACTIVITIES
Ilncorporating the income and expenditure account)
FOR THE YEAR ENDED 310ECEMBER 2024
Unrestrlcted
funds
Restrlcted
funds
Total
2024
Total
2023
Income from:
Donotions ond legacies
Collections and donations
Gift aid recoverable
Investment5
Investment income
19.868
1,274
1,900,000
1,919,868
1,274
254,080
8,687
413.983
413,983
225,835
Total Income
435,125
1,900,000
2,335.125
488,602
Expendlture on:
Choritable artivities
Assistance to other trusts to
provide Christian places of worship
Total expendlture
1,164,972
1,164,972
1,729,036
1,164,972
1,164,972
1,729,036
Net lexpendlture)Ilncome
1729,8471
1,900.000
1,170,153
(1,240,434)
Gains on investments
io
161,498
161,498
276,137
Transfers between funds
Net movement In funds
1571,3491
1,900,000
1,328,651
1964,297)
Total funds brought forward
18,386,072
18.386,072
19,350,369
Total funds carried forward
17,817,723
1,900.000
19,717,723
18,386,072
All the above results are derlved from continuing activitles. The charity has no other recognlsed galns and
losse5 from those stated above.
The notes on pages 14 to 25 form an integral part of these financial statements.
PaEe 11

Do￿$￿n Envelope 10.. 55C3C1BF.0919414C.BB72.7311E569ACA8
CENTRAL GH TRUST
BALANCE SHEET
AS AT 31 DECEMBER 2024
2024
2023
Notes
Flxed assets
Tangible fixed assets
Investments
Programme related investments
6,000
7.913.032
6,558.464
10,000
8,068,884
5,629,287
io
li
14,477,496
13,708,171
Current assets
Debtors due in less than one year
Cash at bank and in hand
12
55,632
8,430.256
36,461
7,790,858
8,485,888
7,827,319
CredltOfS: Amounts fallln8 due
wlthin one year
13
13,245,661)
{3,149,4181
Net current assets
5,240.227
4,677,901
Total assets less current liabilities
19,717,723
18,386,072
Net assets
19.717.723
18,386,072
Represented by:
Restricted funds
Unrestricted funds
15
15
1,900.000
17,817,723
18,386,072
Total funds
19.717,723
18,386,072
The notes on pages 14 to 25 form an integral part of this statement of financial actlvities.
The financial statements were approved by the Trustees on 22September 2025 and signed on their behalf by:
Sl9ned by..
WMIty OLI VEIL ihl hlLÉ
Trustee
Company number: 066569191En8land & Wales)
Page 12

Doujsign Envelope ID.. 55C3C18F-D9l￿14C-8B72-7311E5S9AcA8
CENTRAL GH TRUST
STATEMENT OF CASH FLOWS
AS AT 31 DECEMBER 2024
2024
2023
Cash flows from operatlng activltles:
Net cash provided by/ fused inj open7tinq artivitles
16
1,176,978
{1,059,3001
Cash flows from investlng actlvities:
Purchase of investments
Dlsposal of investments
Income from investments
Receipt from disposal of investment propertv
New charitable loans provided
Receipts from charitable loan repayments
Net CQsh provided by investing qrtivities
17,813,850)
7,785.900
63,850
317,743
11,700,000)
770,821
{578,5361
13,775,000)
1,511,793
12,263,207)
Cash flows from financlng activities:
Repayment of borrowin8
Cash Inflows from new borrowlng
Net cash provided byllnanclng artlvltles
11,596,840)
1,634.796
37,956
3,111,764
3,111,764
Change In cash and cash equivalents in the year
Cash and c•sh equlvalents at l January 2024
Cash and cash equlvalents at 31 December 2024
639,398
7,790,858
8.430,256
{210,743)
8,001,601
7,790,858
18
The note5 on pa8es 14 to 25 form an integral part of thls statement of financial actlvltie5.
Page 13

Docuslgn Envelope ID." 55C3C18F-D919414C-8872-7311ES6gACA8
CENTRAL GH TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Accountlng policies
1.1 Company Informatlon
Central GH Trust is incorporated in England and Wales as a re8lStered charity and a company limited
by guarantee. The registered offlce Is Noble House, Eaton Road, Hemel Hempstead, Herl5 HP2 7UB.
1.2 Basis of preparatlon
The financial statements have been prepared under the historical cost convention with the exception
of investments which are included at fair value. The financial statements have been prepared in
accordance with the Statement of Recommended Practice.. Accounting and Reporting by Charitles
preparing their accounts in accordance with the Financial Reportin8 Standard applicable in the UK and
Republic of Ireland {FR51021. the Financial Reporting Standard applicable in the UK and republic of
Ireland IFRS 1021 and the Companies Act 2006.
The Central GH Trust meets the definition of a public benefit entily under FRS 102. Assets and
Ilabllltles are wholly recognised at historical costs or transaction value unless Otherwise stated in the
relevant accounting policy notelsl.
1.3 Going Concern
The trustees have tonsidered the operatin8 Positlon of the charlty and are of the opinlon that there
are no material uncertalntles regarding the charlty's ability to continue as a goin8 concern.
1.4 Incomlng resources
All income is recognised once the charity has entitlement to the income, it is probable thal the income
will be received and the amount of income receivable can be measured reliably.
1.5 Resources expended
Expenditure 15 recognlsed 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 comprises expenditure related to the direct
furtherance of Central GH Trust charitable objects and is accounted for on an accruals basis. Where
costs cannot be dlrectly attributed they have been allocated to activities on a basls conslstent with use
of the resources.
Grants are charged to expenditure when the obligatlon In relation to each grant arises. Unpaid grants
are included in creditors in accordance with the requirements of FRSIO2.
Direct costs comprlse costs Incurred directty In generatln8 funds and for charltable purposes.
Support costs comprise costs incurred dirertly in sUPPQrt of expenditure on the objects of the charity
and are an integral part of the costs of carrying out the direct charitable objectives of the charity.
Governance costs are those incurred In compliance wlth constltutlonal and statutory requirernents.
Page 14

Docusign Envelope ID.. 5sc3c18F￿9194l4C.8B7?-73l IE569ACA8
CENTRAL GH TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Accountln8 policies Icontinuedl
1.6 Fund accountlng
Unrestricted funds are available for use at the discretlon of the Trustees In furtherance of the general
objectives of Central GH Trust.
Restricted funds relate to assets transferred to the charity from Mays Lane Gospel Hall Trust and
Harrow Gospel Hall Trust. As the objects of both Trusts are narrower than that of the charity with
re8ards to charitable lending. these a55et5 have been treated as restrlcted In the financlal statements
of the charity. See note 14 for further details.
1.7 Programme related investments
Loans are made to Christian rellglous charities. These are made to further the charitrfs objects rather
than to create financial Eain.
1.8 Tan8lble flxed assets and depre¢latlon
Tangible fixed assets are stated at cost including any Incldental expenses of acquisition. Assets are
capitalised where the unit cost exceeds £500.
Depreciation is provided on all tan8ible fixed assets at rates calculated to write off the cost on a
straight line basis over the term of the lease or their expected useful economic lives, whichever is
shorter. Useful lives are as follows:
Equipment- 20% straight line
Property- 2% stralght line
1.9 Investment property
Investment property is initially measured at transaction price excludin8 transaction costs and is
subsequently measured at fair value at each reporting date. The Statement of Financial Activities
irbcludes the net gains or losses arising on revaluatlon and disposals throughout the year. ND
depreclatlon Is charged on Investment property.
1.10 Investments
Fixed asset investments are initially measured at transaction price excluding transaction costs and are
subsequently measured at fair value at each reporting date. The Statement of Financial Activities
includes the net gains or losses arlsing on revaluation and disposals throughout the year.
1.11 Flnancial Instruments
The charity only has financial assets and financial Ilabilities of a kind that qualify as baslc flnanci31
instruments. Basic financial instruments are initially recognised at transaction value and subsequently
measured at their settlement value with the exception of bank loans which are subsequently
measured at amortised cost using the effective interest method.
1.12 Debtors
Trade and other debtors are reco8nised at the settlement amount due after any trade discount
offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
Page 15

Docusign Envelope ID". 55C3C16F-D919414C-B872-7311E569ACA8
CENTRAL GH TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
1.13 Cash at bank and In hand
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short
maturity of three months or less from the date of acquisition or opening of the deposit or similar
account.
1.14 Credltors and provlslons
Creditors and provisions are recognised where the charlty has a present obligation iesulting frorn a
past event that will probably result in the transfer of funds to a third party and the amount due to
settle the obligation can be measured or estimated reliably. Creditors and provisions are normally
recognised at their settlement amount after allowing for any trade discounts due.
1,15 Crltlcal accountlng Judgements and key sources of estimation uncertalnty
In the application of the accounting policies, the Trustees are required to make Judgement, estimates
and assurnption5 about the carrying arnount of assets and liabilities that are not readily apparent from
other sources. The estimates and associated assumptions are based on historical experience and other
factors that are considered to be relevant. Actual results may differ from these estimates. The
estimates and underlying assumptions are reviewed on an ongoing basis and none were identified for
the current year.
Income
2024
2023
Donations received (unrestricted)
Donations received {restrictedl
19,868
1,900,000
1,919,868
254.080
254,080
Investment Income
2024
2023
8ank Interest received
Loan interest received
Interest from investments
Dividends from investments
350,133
225,833
3,169
60,682
413,983
225,835
Page 16

Oocusign Envelope ID.. 55C3c1BF-D91￿lIc-8B72-731l E569ACA8
CENTRAL GH TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Expendlture
Grants
Support
costs
Governance
costs
Depreciation
and
loss on
disposal
Other
charitable
activities
2024
Total
Restricted funds:
Assistance to other Trusts
Unrestricted funds:
Assistance to other Trusts
705,888
311,456
99,556
19,711
28,361
1,164,972
705,888
311,456
99,556
19,711
28,361
1,164,972
Grants
Support
Costs
Governance
costs
Depreciatlon
lrnpalrment
2023
Total
Re5trlcted funds:
Assistance to other Trusts
544,570
544,570
Unrestrlcted funds:
Assistance to other Trusts
690,727
166,833
118,309
4,000
204,597
1,184,466
1,235,297
,166,833
118,309
4,000
204,597
1,729.036
The surplus for the year Is stated after charging:
2024
2023
Audit fees
Depreciation
18,000
4,000
14,300
4,000
Page 17

Oocusign Envelope ID.. 55C3C1BF-0919414¢-BB72-7311E569ACA8
CENTRAL GH TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Grants Awarded
The Charity makes grants to Christian religious charities for the development of places of worship.
2024
2023
KMLF, Copenhagen
Woodvale Meeting Room {19741 Trust, Belfast
Cardiff Gospel Hall Trust, Cardiff
Fofeningen for Gudstjanstlokal I, Helsingborg
Mostyn Gospel Hall Trust, Leicester
Allerton Gospel Hall Trust, Liverpool
Oulton Gospel Hall Trust. Lowestoft
Dolafon Gospel Hall Trust, Newtown
Ente Cristiano Evangelica Dei Fratelli, Rome
Holyhead Road Gospel Hall Trust, Shrewsbury
Stafford Gospel Hall Trust
The Leewood Gospel Hall Trust
Portswood Gospel Hall Trust
St Au5tell Gospel Hall Trust
Trinidad Meetlng Room Trust
The Havelock Trust
EV Zurich Trust
306,297
37,500
75,000
loo.000
16,500
150,000
45,000
400,000
25,000
5,000
75,000
50,000
215,000
15,000
79,848
200,000
146,040
705,888
1,235,297
Taxatlon
The Trust is a reglstered charity and Is exempt from corporation tax on its charltable income, provided
this is spent on charitable purposes.
Governance costs
2024
2023
Audit fee
Legal and professional fee5
18,000
81,556
99.556
14,300
104,009
118,309
Page 18

Docusign Envelope10.' 5sc3c1BF￿919411c-B872-73ll E569ACA8
CENTRAL GH TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Staff and Trustees costs and Related Party Tran5actlons
The Charity has no directly employed staff. The day to day running of the Charity is carried out by the
Trustees.
During the year £44.18312023: £45.6271 was paid to C&H Stedman Ltd (formerly C&H Stedman, untll
16 September 20241 for company secretarial and accountancy services. Christopher Stedman, the
company secretary of Central GH Trust, was a partner in C&H Stedman and is a shareholder in C&H
Stedman Ltd.
During the year payments of £20,00012023 £nill were made to Cyril Parsons under a contract for
seplices. The duties fulfilled under this contract were separale to his duties as a Trustee of the
Charlty.
Expenses totalling £31,166 were reimbursed to 3 Trustees during the year.
Tanglble flxed assets
Intellectual
Property
Equipment
Total
Cost
At l January 2024
Additions
20,000
1,062
21,062
At 31 December 2024
20,000
1,062
21,062
Depre¢lation
At l January 2024
Charge for year
31 Oecember 2024
10,000
4,000
14,000
1,062
11.062
4,000
15,062
1,062
Net book value
At 310ecember 2024
6,000
6,000
At 310ecernber 2023
10,000
10,000
All fixed assets are used for charitable activities.
Page 19

Doojsign Envelope ID.. 55C3C1BF-D919414&8B72-7311E569ACA8
CENTRAL GH TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
10 Investments
2024
2023
Investment property
Investments
348,300
7,720,584
8.068,884
7,913.032
7,913.032
Investment property
2024
Market value at l January 2024
Disposals during the year
Market value at 31 December 2024
348,300
(348,3001
Investments
2024
A5 at l January 2024
Additions
Disposals
Gains
At 31 December 2024
7,723,584
7,813,850
17,785,900)
161.498
7,913,032
Investmenls in the prior year represented the Charity's holding In the Vision Investment Fund Unlt
Trust, managed by Crestbridge Group Services Limited. During the year the Charity di5POsed of these
funds and reinvested them with Cazenove.
11 Programme related Investments
2024
2023
Advances to Christian religious charitles
Brought fonvard at l January 2024
Loans made
Loans repaid
5,629,287
1,700,000
(770,823)
3,366,080
3,775,000
{1,511,7931
Carried forward at 31 December 2024
6,S58,464
5,629,287
The above loans are provided to registered charities and are interest free.
Page 20

DO￿$1g￿ Envelope ID: 55c3c1BF-D91￿14c_B872-73ll E569ACA8
CENTRAL GH TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
12 Debtors
2024
2023
Amounts falling due within one year:
Gift Aid recoverable
Payroll giving receivable
Other debtors
Prepayments
287
1,413
25,000
28,932
55.632
108
1,084
35,269
36,461
13 Credltors: amounts falllng due wlthln one year
2024
2023
Loans
Accruals and deferred income
Trade credbtors
3,149,720
87,051
8,890
3,111,764
17,919
19,735
3,245,661
3,149,418
Page 21

Docusign Envelope ID.. 55C3C18F-0919414C-B872-7311 E569ACA8
CENTRAL GH TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
14 Movement In funds
Atl
January
2024
Incoming
resources
Outgoing
resources
Investment
Gains
At31
December
2024
Unrestrlcted funds 18,386,072
435,125
(1,164,972)
161,498
17,817,723
Restrlcted funds
Harrow
Mays Lane
400,000
I,soo,000
1,900,000
400,000
1,500,000
1,900,000
Total funds
18,386,072
2.271,275
11,164.9721
225,348
19.717,723
Atl
January
2023
Incornlng
resources
Out8oin8
resources
Investment
Gains
At31
December
2023
Unrestrlcted funds 18,805,799
488,602
{1,184,4661
276,137
18,386,072
Restrlcted funds
Woodlands
Finchlev
385,100
159,470
544,570
(385,1001
(159,4701
(544,5701
Total funds
19,350,369
488,602
11.729,0361
276,137
18.386,072
Current year restricted funds relate to:
Harrow - Funds were transferred to the charity from Harrow Gospel Hall Trust Ireglstered charity
number 11590741 in September 2024. As the objects of Harrow Gospel Hall Trust were narrower than
that of the charity with regards to charitable lending. these a55ets have been treated as restricted
incorne in the financial statements of the charity.
Mays Lane
Funds were transferred to the chartty from M3ys Lane Gospel Hall Trust (registered
charity number 1166837) in September 2024. As the objects of Mays Lane Gospel Hall Trust were
narrower than that of the charity with regards to charitable lendin8, these assets have been treated as
restricted income in the financial statements of the charity.
Restricted funds in prior periods related to:
Woodlands
Assets transferred to the charity from Woodlands Meeting Room Trust (registered
charity number 11628401 during the year ended 31 December 2018. As the objects of Woodlands
Meeting Room Trust were narrower than that of the charity with regards to charitable lending, these
Page 22

DO￿619n Envelope ID.. 55c3c1BF-D91￿14c-B872-73ll E569ACA8
CENTRAL GH TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 310ECEMBER 2024
assets have been treated as restricted income in the financial statements of the charity. On the
repayment of the loans, the charity has rnade grants from the restricted funds in line with the objects
of the Woodlands Meeting Room Trust.
Finchley - Assets transferred to the chaf ity from Finchley Gospel Hall Trust {an unregistered charity)
during the year ended 31 December 2021. On the repayment of the loans, the charity has made
grants from the restricted funds in line with the objects of the Finchley Gospel Hall Trust.
IS Analysis of net assets between funds
At 31 December 2024
Unrestrirted
funds
Restricted
funds
Total
funds
Tan8lble flxed a55etS
Investments
Prograrnme related fixèd assets
Cash
Debtors
Creditors
6,000
7,913,032
6,558,464
6,530,256
55,632
{3,245,6611
6,000
7,913.032
6,558,464
8,430,256
55,632
13,245,661)
1,900,000
17,817,723
1.900.000
19,717,723
At 31 December 2023
Unrestrlcted
funds
Restrlcted
funds
Total
funds
Tangible fixed assets
Investments
Programme related fixed assets
Cash
Debtors
Creditors
10,000
348,300
7,720.584
5.629,287
7,790,858
36,461
(3,149,418)
18,386,072
10,000
348,300
7,720,584
5,629,287
7,790,858
36,461
{3,149,418)
18,386.072
Pa8e 23

Do￿SIgn Envelope ID.. 55C3C18F.0919414C_BB72.7311 E569ACA8
CENTRAL GH TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
16 Reconciliation of net expendlture to net cash flow from operatlng actlvltles
2024
2023
Net Income/(expendlture) per the SOFA
Adjustments for..
Depreciation
IGains)ILosses on investments
Income from investments
Loss on investment property disposal
Ilncreasel/ In debtors
Increaselldecreasel in creditors
Net cash used In opemtlng actlvltles
1,328,651
{964,297)
4,000
{161,4981
(63,850)
19,711
119,171)
69,135
1,176,978
4,000
1276,1371
204,597
126,2401
(1,2251
11,059.3021
17 Analysls of cash and cash equlvalents
2024
2023
Cash at bank and in hand
,430,256
7,790,858
Total cash and cash equlvalents
,430,256
7,790,858
18 Analysls of changes in net debt
Atl
January
2024
At31
December
2024
Non-cash
movement
Cash flows
Cash
Loans owed to the charity due
within one year
Loan5 owed by the charity due
within one year
7.790.858
5,629,286
639.398
929,178
8,430,256
6,558,464
13,111,764)
137,9561
(3,149,720)
10,308,380
1,530,620
11,839,000
Page 24

Docusign Envelope ID.. 55C3C18F-D919414C-BB72-7311E569ACA8
CENTRAL GH TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 310ECEMBER 2024
19 Comparatlve Statement of Flnanclal Actlvltles
Unrestrirted
Restricted
funds
Total
2023
Total
2022
funds
Income from:
Donotions and legocies
Collections and donations
Gift aid recoverable
Investment5
Investment income
254.080
8,687
254,080
8,687
215,213
23,206
225,83S
225,835
68,034
Total Income
488,602
488,602
306,453
Expenditure on:
Charitable octivities
Assistance to other trusts to
provide Christian places of worship
Total expenditure
1,184,466
544,570
1,729,036
338,345
1,184,466
544.570
1,729,036
338,345.
Losses on investments
276,137
276,137
155,5531
Net Incorne/{expendlture)
{419,7271
1544,5701
1964,297)
187,4441
Transfers between funds
Net movement In funds
{419,7271
1544,570)
1964.297)
187,4441
Total funds brought forward
18,805,799
544,570
19,350,369
19,437,813
Total funds carried forward
18.386,072
18,386.072
19,350,369
Page 25