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← The Co-Mission Churches Trust

2025-03-31-accounts

REGISTERED COMPANY NUMBER: 07496944 (England and Wales)

REGISTERED CHARITY NUMBER: 1139922

THE CO-MISSION CHURCHES TRUST

REPORT OF THE TRUSTEES AND AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

THE CO-MISSION CHURCHES TRUST

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CONTENTS OF THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

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THE CO-MISSION CHURCHES TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2025. The Trustees have adopted the provisions of 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).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The Charity operates and resources a number of churches throughout Southwest London, helps to facilitate further church planting and gospel growth, and supports other individuals and organisations with similar gospel objectives both in the U.K. and around the world.

a. History

Originally the Charity was formed after a small group of people from an Anglican church in Wimbledon "planted" a new church called "Dundonald Church" into a local primary school, meeting each Sunday in the school hall. Over a number of years, that small church grew and became effective at sharing the Christian faith with the local community and given its success, Dundonald Church then replicated its church meetings in a variety of other local venues around Wimbledon and Raynes Park in South West London. Subsequently, the Charity then set up new church plants in Kingston and in Balham to enable the Charity to advance its objectives in those new local communities and those new churches also grew and thrived. Over the next ten years, the Charity then planted further new churches into Earlsfield, Worcester Park, Walton, Sutton and Putney. Since summer 2020, the Charity's church in Earlsfield has been worshipping at All Saints Church in Wandsworth and has been serving that new local community. Most recently, the Charity established Hope Church Tolworth in November 2024.

Whilst each of these churches have their own staff and local leadership teams, the churches are all resourced through, and are the responsibility of, the Charity. The Trustees praise God for His kindness in growing the Charity in this way and for each of the local churches which serve their local communities and advance the Charity's objectives.

b, Our churches

The Charity currently has legal responsibility for the following London churches and ministries:

As well as being united together by being part of the Charity, these churches are also all members of the Co-Mission network of churches. Historically, the Co-Mission network was also resourced through the Charity, but since September 2017, the resourcing of this informal network and responsibility for Co-Mission's staff, media, events and church planting was transferred to an independent charity, The Co-Mission Initiative Trust.

c. The spiritual challenge in London

London is a city with few peers in terms of global influence, one of the most cosmopolitan and powerful cities, and is the political, economic and cultural centre of Britain. However, London is also an emerging human tragedy: over 90% of the population claim no saving faith in Christ and many of the major people groups in London are almost entirely unreached by the good news of our Lord Jesus Christ. London is therefore a significant mission field. We can only imagine how Jesus must feel about London: "When Jesus saw the crowds, he had compassion on them, because they were harassed and helpless, like sheep without a shepherd." (Matthew 9:36). So, what is London's greatest need? The gospel of Jesus Christ!

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THE CO-MISSION CHURCHES TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

d. We are seeking to meet that need

All of the Charity's churches are reaching out to their communities with the gospel of Jesus Christ and are united in their desire to advance his Kingdom. In addition, they work together with Co-Mission and with other London churches to reach London for Christ, by planting and establishing evangelistic gospel churches. This city is urgently in need of hundreds of diverse evangelistic churches proclaiming the gospel to all people! We are living in a mission field with an incredible ability to influence and reach societies around the world for Christ, starting right here in London.

e. The financial challenges

As these financial statements show, gospel ministry in London is increasingly expensive, and so all of the Charity's churches are only able to continue their ministries because of the generous, sacrificial and joyful giving of the individuals and families who together make up those churches.

Review of activities

The Charity was established to advance the Christian faith in London and overseas. Initially, the Charity achieved its objectives through the ministry of Dundonald Church in Southwest London, but the Charity's operations have grown significantly over the past 25 years and the Charity now advances the Christian faith through each of the local churches referred to above.

There have been no changes in the Charity's objectives since the last annual report. The Charity has pursued its objects over the past year in the following ways:

  1. Its churches have continued to organise and run a weekly programme of Sunday and mid-week meetings for the proclamation of the Christian faith, the study of the Bible and the mutual encouragement of those attending throughout London. Its churches held regular meetings in Raynes Park, Balham, Kingston, Wandsworth, Worcester Park, Putney, Sutton, Walton and in Tolworth;

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  1. By supplying financial and other practical resources to the Co-Mission network of churches (including making grants to The Co-Mission Initiative Trust);

  2. By providing financial support, training and ministry experience to individuals considering a future career as a church pastor or other church ministry worker;

  3. By supplying financial and other practical resources to carefully selected partners carrying on gospel ministry in other parts of the United Kingdom and overseas;

  4. By organising events and meetings to promote gospel ministry in the United Kingdom and overseas; and

  5. By providing practical and financial help to those in physical or emotional need.

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THE CO-MISSION CHURCHES TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

OBJECTIVES AND ACTIVITIES

Public benefit

How our activities deliver public benefit

We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives.

Through its local churches, the Charity runs regular Sunday and mid-week meetings throughout Southwest London, including at the locations listed above. These meetings provide instruction in the Christian faith for those who are already believers, but are also aimed at serving those who would not necessarily call themselves Christians, but who are willing to investigate the Christian faith. Our churches also seek to show Jesus’ love to their communities and offer pastoral support and care for all who attend, whatever their faith background. In addition, we seek to provide material assistance to those who are part our churches or who may be connected to them and who are facing exceptional hardship. The Charity’s churches also serve their local communities by running regular Kid's holiday clubs (usually held during one of the school haif-term weeks or the Easter holidays) which are open to children from the surrounding areas whether their parents go to church or not. As well as providing biblical and moral teaching, these holiday clubs provide the children with considerable fun, exercise and educational benefits through a range of activities and are of great help to their parents. The Charity is pleased to provide those activities as a way of serving and getting to know the local communities and charge only nominal booking fees to participants and offers subsidies to those for whom the cost is unaffordable. The Charity's staff and wonderful volunteers have continued to run a number of toddler groups and "Junior Jiver" sessions at a number of London locations. These community supporting groups take place throughout the week so that local parents and carers bring their toddler children and enjoy coffee, cake and chat whilst their children play in our great venues with an extensive range of toys and play equipment and within a fun and safe environment. The Charity's churches also run monthly "Men Behaving Dadly” groups where fathers and/or carers are encouraged to come with their children to enjoy a fun time of play together, to give the mums a break and to start their weekends in great company and with coffee and bacon sandwiches. These toddler groups have continued to be greatly loved and appreciated by our local communities and have helped our churches gain excellent reputations amongst local families. Through several of our churches, we also run evening youth clubs for local young people (aged 8 - 18 years) which are attended by a mixture of children, some of whom are involved in our churches, but also many of whom simply come along from local families and schools. Given the pressures upon young people and the loneliness and isolation suffered so acutely by so many during the recent Covid pandemic, we consider these ministries to be an important service to local families, a great opportunity to provide friendship, care and support and a very worthwhile use of our facilities and resources. We also partner with a nationally approved debt relief organisation, Christians Against Poverty, to run money management courses which are open to local people to help them better look after their money and avoid unmanageable debt. Through our churches and care teams, we also provide advice and counselling to those who are already struggling because of the burden of debt. Some of our churches actively promote Christian ministry within local prisons and provide teams of workers who volunteer alongside prison chaplains and offer friendship and bible teaching to prisoners. Over the past year, some of our churches have also started providing programs to support, and to provide much-needed hope, for those struggling with addictions.

As part of our regular calendar of church events, we also run seminars and courses designed to strengthen marriages and to support parents in the challenges of bringing up and caring for their children. These events are open to the public at large and are often free of charge. We also provide a popular coffee house ministry at Dundonald Church in Raynes Park which is open to the public. The coffee house operates most weekdays and, as well as offering excellent, high quality drinks and cakes and provides a welcoming and friendly environment for all the local community. The coffee house has been particularly appreciated by those who might otherwise feel isolated and lonely, such as new parents, those who work from home and the elderly. It is also registered as a "warm space"to help those who may be vulnerable and/or who may struggle with winter-fuel poverty. The Charity has also been increasing its work with senior citizens and the elderly and over the past year, this has meant visiting local residential care homes to provide informal church services for those with limited mobility; running regular afternoon teas which include entertainment, a short talk on the Christian faith, delicious food and much fun; and also running a hugely successful week of activities in July or August called "Holiday at home". Through all of these activities, and others, the Charity has been able to provide loving care, friendship, companionship and community for many elderly people and has been able to demonstrate that they are precious to God and valued by our churches. Again, given the increased sense of isolation which was caused by the pandemic, we have been delighted to help to reconnect many with other local residents and help them to enjoy friendship and fun and to experience the love and care of others.

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REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

OBJECTIVES AND ACTIVITIES

We also devote considerable time and resources to serving people in London who have joined us from overseas. London is such a wonderfully diverse city and we know that heaven will be too! Therefore, the Charity runs a variety of English-speaking classes, bible study groups, Christianity Explored courses and welcome meals for internationals and has helped to resource "International cafes" which offer conversation in simple English, friendship, community, fun and great food on a weekly basis to anybody who wishes to attend. The Charity has also provided significant levels of financial support to a number of relief and missionary projects overseas.

Grantmaking

The Charity's churches participate in the Co-Mission ministry training programme and help to provide church ministry training, church ministry experience, mentoring and other support (either on a full or part-time basis) to a number of people each year. By providing such training and ministry experience, we hope that many participants will choose to undergo further training and/or pursue a career as a church minister or other ministry worker and that some will even go on to lead churches either in this country or around the world.

The Charity also makes grants each year to The Co-Mission Initiative Trust to support the work of the Co-Mission network throughout London. Co-Mission seeks to evangelise London through the planting and strengthening of local churches and the Charity is delighted to be able to make funds available to the network to benefit the wider Christian church throughout London.

In addition, the Charity recognises the relative affluence of its London churches (compared our brothers and sisters in Christ in many other parts of the world) and delights in being generous with its resources by making grants to carefully selected mission partners pursuing similar charitable objectives overseas and in the UK.

Volunteers

The Trustees are enormously grateful to the multitude of volunteers within our churches who expend very significant amounts of time on the Charity's activities, time which is donated free of charge because of their love for the Lord Jesus and_ their commitment to the Charity's objectives. Our volunteers serve as church elders, creche helpers, Sunday School workers, youth leaders, bible study leaders, evangelists, musicians, preachers and in so many other key roles! None of our churches could function effectively in their local communities without such support from volunteers and so we thank God for each one of them. It is not possible to quantify the amount of time given or ascribe a value to it and accordingly it is neither recorded as donated income nor as an expense in the financial statements.

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THE CO-MISSION CHURCHES TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

ACHIEVEMENT AND PERFORMANCE

Charitable activities

Review of the year:

  1. The Trustees continued to be greatly encouraged to see God at work through the various church ministries and programmes run by the Charity and by the level of financial support for, and active participation in, the Charity's activities over the past year. Despite the aftermath of COVID-19 and the recent backdrop of a national "cost-of-living crisis", the Charity's churches have continued to thrive and the Charity remains in such a strong financial position. Over the past year, the Charity's income increased by £589,950 as compared to the previous financial year.

  2. Over the past year most of the Charity's churches appear to have grown in size and more people than ever have benefitted from our extensive programme of activities and have become involved in funding the Charity's work. In a period in which many English churches are shrinking and closing, the Trustees have been thrilled to see the Charity's churches growing, increasing their income beyond budgeted expectations and covering their own costs. In particular, at a time when many longer established churches are struggling to retain young people, many of the Charity’s churches have thriving children's and youth groups with increasing numbers attending and enjoying the bible teaching, friendship and support. Providing care and support to these young people is an urgent priority and large responsibility for the Charity.

  3. In September 2024, the Charity's Trustees appointed two new trustees to help them to lead and manage the Charity. Both of these new additions have been involved with the Charity (as church members) for many years and, with their love for the Lord Jesus, legal and business expertise and enthusiasm, have already made a very positive difference to the enlarged and strengthened board of trustees.

  4. In November 2024, the Charity launched its first church plant in over a decade, Hope Church Tolworth. This vibrant new church is a result of a unique partnership between two local congregations: a group from Cornerstone Church Kingston and a group from Emmanuel Church in Tolworth. Together, they have formed a community centred on the life-changing message of the gospel of Jesus Christ. As we reflect on this exciting launch, Hope Church Tolworth is eager to serve God and the local community, sharing the message of the Bible and welcoming new people into the church family. With a strong foundation in the gospel and a heart for service, the Trustees look forward to seeing how God will continue to work in Tolworth in the months and years ahead.

  5. In March 2025, the Charity launched its first website (www.cmct.london). As well as being a window through which visitors may find out more about the Charity's churches and how they can visit them and support them financially, the website also serves to improve and strengthen the Charity's governance. Through the website, people are able to contact the Trustees directly, access key Safeguarding information, report Safeguarding concerns and also provide feedback and/or complaints.

  6. The Trustees are eager to support further church planting throughout London and are currently exploring whether additional churches might be set-up from within the Charity and whether they should continue to be operated from within the Charity for the long-term. On the other hand, the Trustees are aware that by further expanding the Charity, the risks of governance and compliance failures may increase and also that there may be compelling reasons to encourage new plants to set-up as independent legal entities by establishing their own CIOs. The Trustees have instructed Moore Barlow LLP and Edward Connor solicitors to advise them in these areas and also plan to consult more widely with other experts in church planting and governance.

  7. Wonderfully, the Charity’s churches have welcomed many visitors and guests over the past year and some have become Christians. Regular courses explaining the basics of the Christian faith were held throughout the year and many outreach events took place, especially at Christmas and at Easter and as part of local church missions. An exciting proportion of new church members have been non-British and the Trustees are very grateful to God for a growing diversity amongst many of the Charity's churches.

  8. The Charity has continued to increase its number of employees and has employed a number of new staff over the past year in order to further advance the Charity’s objectives and to grow its churches and all of the Charity's full and part-time staff have worked immensely hard to further the Charity's objectives and the Trustees are grateful to each of them. They are supported by hundreds of volunteers who work sacrificially and tirelessly alongside the staff to further the Charity’s objectives.

  9. The Charity's churches (often through trained care teams and coordinators of Personal Care) have continued to provide loving Christian care to those individuals who, for whatever reason, have been in particular need.

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THE CO-MISSION CHURCHES TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

  1. The Trustees are greatly aware of the importance of Safeguarding and have worked closely with the Charity's part-time Safeguarding Coordinator and Deputy Safeguarding Coordinator to continue to implement & strengthen Safeguarding across the Charity and to meet best practice as per the advice of the Charity's advisers, Christian Safeguarding Services. The Charity's Safeguarding Coordinator made further improvements to the Charity’s Safeguarding policy during the year and, together with other experienced professionals, continued to provide regular training courses throughout the year on the Charity's Safeguarding policy and procedures. The Charity Services Team are currently exploring the production of online Safeguarding training videos to make it is as easy as possible for all of our staff and volunteers to access the important training which they require in order to work safely with the Charity's children, youth and adults at risk.

  2. The Trustees have been saddened by a number of recent scandals affecting third party churches and ministries across the world where leaders have been accused of bullying and manipulation and have continued to explore what can be done within the Charity's context to minimise the risks of such damaging behaviour and to ensure any victims are able both to speak out and also be properly supported and cared for. As a result, the Trustees have taken renewed efforts to ensure that each of the Charity's churches have been making their members aware of the Charity's Complaints Policy and that those who are unhappy know where to find the help they need. Having recognised the need for additional HR support, the Trustees have now employed a new (part-time) HR Manager who started with the Charity in March 2025. The HR Manager has already made some excellent progress and is exploring ways to better train line managers and ensure that any upset amongst staff can be tackled appropriately and quickly before harm is caused. 12. The Charity has made grants totalling £403,393 (2024 £362,086) to ministry trainees, to the Co-Mission network and to other mission partners in the UK and overseas, and also to support individuals suffering poverty or urgent need. The Trustees are delighted that the Charity has been able to provide such a high level of financial assistance to individuals and organisations involved in similar gospel work around the world and to those who face severe hardship.

  3. Aware of our legal obligations and also wanting to comply with privacy and data protection best practice as part of our ongoing love and care for all those that come into contact with our Charity, the Trustees have instructed external advisers, Creative Privacy, to review the Charity's current systems and processes and to help the Charity implement any recommended improvements. Fundraising activities The Charity raises the majority of its funding to support its day-to-day activities from those who consider themselves to be members of one of the Charity's churches. "Giving presentations" are arranged on a regular basis throughout the year at each of our churches so that church members can be helped to get involved. As part of those presentations, church members are taught the Biblical principles of giving and are encouraged to recognise that supporting gospel work is part of the spiritual response to the salvation which Jesus provides and should be a normal part of the Christian life. Rather than sporadic giving to a collection plate, the Charity's churches encourage prayerful, planned, cheerful and sacrificial giving and therefore most of the Charity's income comes from monthly standing orders from its church members.

From time to time, the Co-Mission network and some external supporters also generously provide funds specifically to help our churches and/or to provide training opportunities and experience to ministry trainees and we are very grateful to God for such external support.

Fundraising activities are monitored by the Trustees and the Charity does not employ professional fundraisers or other commercial participators to raise funds. The Charity is not bound by any voluntary scheme or standard for fundraising but seeks to ensure this is carried out in an ethical manner and in accordance with Charity Commission guidance. In particular the Charity seeks to protect vulnerable people and other members of the public from the following: unreasonable intrusion on privacy, unreasonably persistent approaches or placing undue pressure on a person to give money or other property. No complaints about its fundraising activities were received in the year.

Internal and external factors

The Trustees recognise that the Charity is largely dependent on those who consider themselves to be members of its various churches for the funds it needs to sustain its activities. However, in God's kindness, the Charity's ministries have continued to grow and God has provided ail the funding required to sustain and develop its work.

The Charity also depends on a large number of volunteers to run its regular activities under the direction of employed staff. The Trustees are delighted to report a significant willingness to volunteer amongst those who attend regularly.

Externally the wider economy has the potential to impact the resources the Charity receives.

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THE CO-MISSION CHURCHES TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

FINANCIAL REVIEW Financial position

The Charity's unrestricted net funds at 31/03/2025 were £9,407,216 (2024 £8,875,663). During the year, the Charity reported a surplus of £461,123.

Principal funding sources

The Trustees are mindful that the majority of the Charity's income comes from donations from those who regularly participate in its activities and are content that this income is relatively stable and predictable. In God's kindness that continued to be the case throughout the COVID-19 pandemic and despite the resultant economic downturn and "cost-of-living crisis".

Investment policy and objectives

Subject to its reserves policy the Charity aims to disburse its income each year and does not make investments. However, given significant levels of cash reserves in recent years, the Charity has begun utilising the Flagstone High-interest Cash Deposit Platform in order to take advantage of their attractive interest rates and also to spread the risk by avoiding retaining too much cash within any single bank and to maximise FSCS protection.

Reserves policy

The Charity'’s Trustees have noted the Charity Commission's guidance document entitled "Charity reserves: building resilience" (January 2016) and have formulated the following reserves policy which is regularly monitored and reviewed,

The Trustees believe that the Charity needs reserves because:

  1. Most of its income comes from the sacrificial giving of the members of its churches, Many of these donors will be significantly impacted by any serious economic downturn or recession and reserves may be needed to cover any resulting loss of donation income.

  2. It employs a large number of staff, has mortgage commitments and, in addition, has a significant number of lease commitments.

  3. Of the risk of unforeseen emergency or other unexpected need for funds.

4. Of the potential need to fund short-term deficits in cash budgets.

In setting this reserves policy, the Trustees have expressly considered the impact of the unplanned shutdown of the Charity, its spending commitments, potential liabilities and financial forecasts. After careful analysis, the Trustees have concluded that given the relative stability and continuity of the Charity's regular income (received through long-term monthly standing orders), it would be reasonable to expect at least 65% of that income to continue even if the Charity faced a financial emergency. As a result, the Trustees have decided to set a desired reserves level based on three months' of average monthly expenditure, but discounted by 65% of the Charity's forecast regular income for that period. However, for the time being, the Trustees will maintain a higher level of cash reserves because of the commitments the Charity has made to its lenders, Reliance Bank and Kingdom Bank. At the end of the financial year, the Charity's reserves were higher than the amount required under the trustee's agreed policy and the Trustees have no concerns that the reserves will prove inadequate at any stage over the coming year.

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THE CO-MISSION CHURCHES TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

FINANCIAL REVIEW

Principal Risks and Uncertainties

The Trustees regularly review risks, and as part of internal control, look ahead at potential risks in the future that could undermine the sustainability of the Charity, including:

To address and mitigate these risks, ongoing actions and initiatives include:

The past year

The Trustees have again been very encouraged by the high level of annual income received and that the Charity continues to be so well supported by so many church members who give sacrificially, generously and joyfully. Financially speaking, it was another extremely encouraging year for the Charity.

During the past year, the Charity sold one of its properties (in Raynes Park) and when the sales proceeds were received (in April 2024), used those proceeds in order to repay a large proportion of the Charity's bank borrowing (variable rate mortgages). By doing so, the Trustees have been able to substantially reduce the Charity's monthly spending - especially as the cost of borrowing has remained relatively high. However, housing remains a core need for the Charity, and the Charity also purchased a house, facilitated by new borrowing with Kingdom Bank, for the senior pastor of The Boathouse Church and his family.

FUTURE PLANS

The Charity is always on the lookout for new opportunities to pursue its objects and will continue to invest in growing and strengthening its existing churches and to support other ministries in order to advance the kingdom of our Lord Jesus. The coming year will see the Charity pursuing its objects by a means of a programme substantially similar to its activities in the year under review. The Charity plans to launch its tenth church, Life Church Hackbridge, in September 2025 by sending out a core team from Christchurch Balham. In addition, the Charity plans to purchase a residential flat in Summer 2025 for use by Christchurch Balham, and longer-term, is also actively seeking to purchase additional houses for use by its staff and also premises for some of its Sunday ministries and weekday programmes. Such property purchases will only be pursued by the Trustees once they have decided that they will be financially affordable and that they will help the Charity to better achieve its charitable purposes.

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THE CO-MISSION CHURCHES TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The Co-Mission Churches Trust (the Charity) is controlled by its governing document, the memorandum and articles of association, and is constituted as a private company, limited by guarantee, as defined by the Companies Act 2006. Originally, the Charity was unincorporated and was named The Dundonald Church Charitable Trust, being controlled by its governing document, a Trust Deed dated 8th June 2001 (and revised on 21st November 2002), and being registered with the Charity Commission under charity number 1089323. On 1st April 2011, the unincorporated charity's assets and undertakings were transferred to The Dundonald Church Charitable Trust, a company limited by guarantee, registered in England and Wales under number 07496944 and registered with the Charity Commission under charity number 1139922.The name of the incorporated charity was subsequently changed on 30th October 2014 to The Co-Mission Churches Trust.

At the date of the transfer, the unincorporated charity had loans secured against the freehold properties held by it. As it had not been possible to renegotiate these on comparable terms to allow the transfer of properties and loans to the limited company, the Trustees had resolved to retain these within the unincorporated charity until such time as this could be resolved. Costs incurred in relation to the continued operation of the unincorporated charity were recharged to the limited company. In October 2019, the Charity entered into a new Borrowing Facility with Reliance Bank and this enabled the pre-existing loans to be repaid in full, for the security to be released and for the transfer of the freehold assets to be finally completed. As a result, the unincorporated charity was closed by its Trustees and has been removed from the Charity Commission's register of charities.

Organisational structure

The Charity's activities are planned and run on a day-to-day basis by the staff employed by the Charity under the supervision and authority of the Trustees. Each of the Charity's churches has its own leadership team (generally known as an "eldership") which comprises of the church's pastor and other senior members of that church, some of whom may also be employed by the Charity. Those leadership teams plan, organise and run the charitable activities for their particular church. In addition, the Trustees employ a small team of professionals (the "Charity Services Team") to help them to fulfil their obligations and responsibilities (for example, to manage the Charity's finances and to produce and implement policies and processes) and to provide key services to each of the Charity's churches (for example, bookkeeping, HR and Safeguarding). The Charity Services Team report regularly to the Trustees to help them to review and monitor the Charity's extensive activities and ministries.

Decision making

Day-to-day charity operational decisions are delegated by the Trustees to the Company Secretary (the Charity Services Team Lead) and day-to-day church operational and ministry decisions are delegated by the Trustees to the leadership teams (comprising of senior staff and volunteer elders) of each of the Charity's churches. Key management, financial and staffing decisions are taken by the Trustees after consultation with the local church leadership teams. For example, if one of the Charity's churches wants to recruit a new staff member, its leadership team will liaise with the Company Secretary and seek approval from the Charity's Trustees who will make the final decision as to whether that church may increase its staff team. Likewise, with the acquisition and disposal of assets and buildings, the affected local church leadership teams will be heavily involved throughout, but final decisions will be taken by the Trustees who will take into account not only the wishes of that local church, but also the best interests of the Charity as a whole,

Induction and training of new trustees

New Trustees are appointed as and when required and on appointment are given a basic introduction to trustee responsibilities, a copy of the Charity Commission leaflet "The Essential Trustee" and are encouraged to read the extensive guidance provided to Trustees by the Charity Commission on its gov.uk webpages and to attend an external training course so that they get a_ basic grounding in charity law and a more detailed understanding of trustee responsibilities.

Remuneration

The Trustees conduct regular staff remuneration reviews and will update the Charity's pay scales at least every two years. Benchmarking for the clergy employed by the Charity is relatively simple as the Trustees can refer to the Stipend levels set from time to time by the Church of England’s London diocese and those set by other denominations. For other staff, benchmarking is less straightforward, but the Trustees will refer to the London teachers' pay scales and review recruitment sites and Christian publications in order to see what other charities and churches are paying their staff.

Now that the Charity's HR Manager has joined, he will take a lead on future staff remuneration reviews and will convene a sub-committee comprising the Company Secretary and at least two Trustees. Towards the end of each review, the HR Manager and the Trustees will consult with the leadership teams of each of the Charity’s churches when proposing changes to staff remuneration and decisions relating to the pay and remuneration of the Charity's key management personnel will be reserved to the Trustees.

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REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 07496944 (England and Wales)

Registered Charity number 1139922

Registered office 577 Kingston Road London SW20 8SA

Trustees Mr P D Cooper Ms R P Dunn Mr G J Ferguson Mr J C Marland Mr R Turner Ms C Gilhooly (appointed 27/9/24) MsJ E Mathew (appointed 27/9/24) Company Secretary Mr S A Hatherall Auditors Hartley Fowler LLP Statutory Auditors Chartered Accountants 4th Floor Tuition House 27-37 St George's Road Wimbledon London SW19 4EU

Bankers CAF Bank Limited 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 43Q

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THE CO-MISSION CHURCHES TRUST

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 MARCH 2025

REFERENCE AND ADMINISTRATIVE DETAILS Additional banking services Barclays Bank Leicester LE87 2BB Kingdom Bank Media House Padge Road Beeston NG9 2RS Reliance Bank Faith House, 23 - 24 Lovat Lane, London, EC3R 8EB Flagstone Group Ltd ist Floor, Clareville House 26-27 Oxendon Street London SWLY 4EL Solicitors Moore Barlow LLP The Oriel Sydenham Road Guildford GU1 3SR Safeguarding support Christian Safeguarding Services 6-8 Marshalsea Road London SE1 1HL Insurance Kingdom Bank Media House Padge Road Beeston NG9 2RS

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THE CO-MISSION CHURCHES TRUST

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees (who are also the directors of The Co-Mission Churches Trust for the purposes of company law) are responsible for preparing the Report of the Trustees 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 income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding 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:

AUDITORS

The auditors, Hartley Fowler LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by order of the board of trustees on 3 July 2025 and signed on its behalf by:

Mr P D Cooper - Trustee

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REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF THE CO-MISSION CHURCHES TRUST

Opinion

We have audited the financial statements of The Co-Mission Churches Trust (the ‘charitable company’) for the year ended 31 March 2025 which comprise the Statement of Financial Activities, the Statement of Financial Position, the Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors’ responsibilities 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 relating to going concern

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

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

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

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

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.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

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REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF THE CO-MISSION CHURCHES TRUST

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Statement of Trustees’ Responsibilities, the trustees (who are also the 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 statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. Our responsibilities for the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

| We identify and assess risks of material misstatement of the financial statements, whether due to fraud or error, and then design | and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion.

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following:

As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud. In common with all audits we are also required to perform specific procedures to respond to the risk of management override.

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REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF THE CO-MISSION CHURCHES TRUST

We also obtained an understanding of the legal and regulatory framework that the charitable company operates in. The key laws and regulations we considered in this context included the Charities Act 2011, UK Companies Act and tax legislation.

In addition we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the charitable company's ability to operate or to avoid a material penalty.

As a result of performing the above, we did not identify any key matters related to the potential risk of fraud or non-compliance with laws and regulations,

Our procedures to respond to risks identified included the following:

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indication of fraud or non-compliance with laws and regulations throughout the audit.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies 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 auditors’ report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the 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.

JonathanLowAskew (Senior S ry Auditor) for and on behalf of Hartley‘Fowler LLP Statutory Auditors Chartered Accountants 4th Floor Tuition House

hit?

27-37 St George's Road Wimbledon London SW19 4EU Date: ALY ae

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THE CO-MISSION CHURCHES TRUST

STATEMENT OF FINANCIAL ACTIVITIES

(INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2025

----- Start of picture text -----
||||||||| |---|---|---|---|---|---|---|---| |2025|2024| |Unrestricted|Restricted|Total|Total| |funds|funds|funds|funds| |Notes|£|£|£|£| |INCOME|AND|ENDOWMENTS|FROM| |Donations|and|legacies|2|3,661,759|68,937|3,730,696|3,176,492| |Charitable|activities|4| |Direct|Charitable|43,396|-|43,396|54,165| |Events|and|ministry|107,793|-|107,793|94,145| |Investment|income|3|64,220|-|64,220|31,353| |Total|3,877,168|68,937|3,946,105|3,356,155| |EXPENDITURE|ON| |Charitable|activities|5| |Direct|Charitable|2,468,452|107,859|2,576,311|2,497,212| |Grants|Payable|362,295|41,098|403,393|362,086| |Events|and|ministry|502,324|2,954|505,278|480,804| |Exceptional|items|(note|11)|-|-|-|(828,698)| |Total|3,333,071|151,911|3,484,982|2,511,404| |NET INCOME/(EXPENDITURE)|544,097|(82,974)|461,123|844,751| |Transfers|between|funds|21|(12,544)|12,544|-|-| |Net movement|in|funds|531,553|(70,430)|461,123|844,751| |RECONCILIATION OF FUNDS| |Total|funds|brought|forward|8,875,663|123,723|8,999,386|8,154,635| |TOTAL|FUNDS CARRIED|FORWARD|9,407,216|53,293|9,460,509|8,999,386|

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The notes form part of these financial statements

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THE CO-MISSION CHURCHES TRUST

STATEMENT OF FINANCIAL POSITION

31 MARCH 2025

2025 2024
Notes £ £
FIXED ASSETS
Tangible assets 13 8,917,355 9,082,656
Investments 14 1 1
8,917,356 9,082,657
CURRENTASSETS
Debtors 15 212,688 1,535,262
Cash at bank 2,492,251 1,935,145
2,704,939 3,470,407
CREDITORS
Amounts falling due within one year 16 (159,221) (1,056,165)
NETCURRENTASSETS 2,545,718 2,414,242
TOTALASSETS LESSCURRENT LIABILITIES 11,463,074 11,496,899
CREDITORS
Amounts falling due after more than one year 17 (2,002,565) (2,497,513)
NETASSETS 9,460,509 8,999,386
FUNDS 21
Unrestricted funds 9,407,216 8,875,663
Restricted funds 53,293 123,723
TOTALFUNDS 9,460,509 8,999,386

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 3 July 2025 and were signed on_ its behalf by:

Mr P D Cooper - Trustee

The notes form part of these financial statements

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THE CO-MISSION CHURCHES TRUST

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 MARCH 2025

2025 2024
Notes £ £
Cash flows from operating activities
Cash generated from operations 1 799,832 262,476
Loan interest paid (119,306) (157,295)
Net cash provided by operating activities 680,526 105,181
Cash flows from investing activities
Purchase oftangible fixed assets (921,093) (26,261)
Sale of tangible fixed assets 1,308,050 -
Interest received 64,220 33,823
Net cash provided by investing activities 451,177 7,562
Cash flowsfrom financing activities
New loans provided in the year (60,000) -
Loan repayments in the year (1,334,597) (42,864)
New loans received in the year 820,000 -
Netcash used in financing activities (574,597) (42,864)
Change in cash and cash equivalents in
the reporting period 557,106 69,879
Cash and cash equivalents atthe
beginning ofthe reporting period 1,935,145 1,865,266
Cash and cash equivalents atthe end of
thereportingperiod 2,492,251 1,935,145

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The notes form part of these financial statements

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THE CO-MISSION CHURCHES TRUST

NOTES TO THE STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 MARCH 2025

L RECONCILIATION OF NETINCOME TO NETCASH FLOW FROM OPERATING RECONCILIATION OF NETINCOME TO NETCASH FLOW FROM OPERATING ACTIVITIES
2025 2024
£ £
Net income forthe reporting period (as per the StatementofFinancial
Activities) 461,123 844,751
Adjustments for:
Depreciation charges 200,795 190,351
Loss/(profit) on disposal offixed assets 1,757 (828,698)
Interest received (64,220) (33,823)
Loan interest 119,306 157,295
Decrease/(increase) in debtors 74,536 (39,822)
Increase/(decrease) in creditors 6,535 (27,578)
Netcash provided by operations 799,832 262,476
2. ANALYSIS OFCHANGES IN NET (DEBT)/FUNDS
At 1/4/24 Cash flow At 31/3/25
£ £ £
Net cash
Cash at bank 1,935,145 557,106 2,492,251
1,935,145 557,106 2,492,251
Debt
Debts falling due within 1 year (48,469) 17,649 (30,820)
Debts falling due after 1 year (2,497,513) 494,948 (2,002,565)
(2,545,982) 512,597 (2,033,385)
Total (610,837) 1,069,703 458,866

The notes form part of these financial statements

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THE CO-MISSION CHURCHES TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

|

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value,

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently

Preparation of the financial statements on a going concern basis

The financial statements have been prepared on the assumption that the charity is able to continue as a going concern, || whichuncertaintiesthe trusteesaboutconsiderthe charity'sappropriateability tohavingcontinueregardas atogoingthe currentconcern.level of unrestricted reserves. There are no material

Preparation of consolidated financial statements

The company has a subsidiary company which has not traded in the year. In accordance with $399 and $405 of the Companies Act 2006, consolidated financial statements have not been prepared as in the opinion of the trustees the activities of it's subsidiary are not material for the purpose of giving a true and fair view.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Grants and donations are accounted for when received, or when awarded, if an award creates a binding obligation.

Income tax recoverable in relation to donations received under Gift Aid is recognised at the time of donation and the submission of gift aid declarations.

Income tax recoverable in relation to investment income is recognised at the time the investment income is received.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both direct costs and those costs of an indirect nature necessary to support them.

Governance costs include those costs associated with meeting the constitutional and statutory requirements of the Charity and include the audit fee and costs linked to the strategic management of the Charity.

Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attached are fulfilled.

Grants offered subject to conditions which have not been met at the year-end date are noted as a commitment but not accrued as expenditure.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property - 2% on cost and at variable rates on cost Improvements to property - 2% on cost Fixtures and fittings - 25% on reducing balance

THE CO-MISSION CHURCHES TRUST NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2025

1. ACCOUNTING POLICIES - continued

Tangible fixed assets

All capital items over £1,000 cost are capitalised and a full year's depreciation is charged on a monthly basis from date of purchase.

the

A review for impairment of fixed assets is carried out if events or changes in circumstances indicate that the carrying value of any fixed asset may not be recoverable. Shortfalls between the carrying value of fixed assets and their recoverable amounts are recognised as impairments. Impairment losses are recognised in the Statement of Financial Activities.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors which have been raised by the charity for particular purposes. The cost of raising and administering such funds is charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Investment income, gains and losses are allocated to the appropriate fund.

Financial instruments

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

Cash at bank

Cash at bank 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.

Debtors

Trade and other debtors are recognised at the settlement amount due. Prepayments are recognised at the invoiced cost prepaid. In relation to trade debtors, a provision for impairment is made when there is objective evidence that the charity will not be able to collect all the amounts due under the original terms of the invoice.

Creditors

Creditors are recognised when the charity has a present obligation resulting from 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 are normally recognised at the settlement amount.

Concessional loans

Concessional loans consist of contributions from church members which are a mixture of equity loans and fixed rate loans and are recognised at the amount received by the charity.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme in relation to the majority of its employees. Contributions are included in the statement of financial activities in the year in which they are incurred.

Operating leases

Leases that do not transfer all the risks and rewards of ownership are classified as operating leases. Payments under operating leases are charged to the statement of financial activities on a straight-line basis over the lifetime of the lease.

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THE CO-MISSION CHURCHES TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

:

2. DONATIONS AND LEGACIES
2025 2024
£ £
Donations and grants 3,730,696 3,176,492
3. INVESTMENT INCOME
2025 2024
£ £
Depositaccount interest 64,220 31,353
4. INCOME FROM CHARITABLE ACTIVITIES
2025 2024
Activity £ £
Other charitable income Direct Charitable 43,396 54,165
Events income Events and ministry 107,793 94,145
151,189 148,310
5. CHARITABLE ACTIVITIES COSTS
Grant
funding of
Direct activities
(see note		 Support
costs (see
Costs 6) note 7) Totals
£ £ £ £
Direct Charitable 2,569,344 - 6,967 2,576,311
Grants Payable - 403,393 - 403,393
Events and ministry 505,278 - - 505,278
3,074,622 403,393 6,967 3,484,982
6. GRANTS PAYABLE
2025 2024
£ £
Grants Payable 403,393 362,086
The total grants paid to institutions during the yearwas as follows:
2025 2024
£ £
Relief of poverty and other external giving 40,329 12,282
Giving to the Co-Mission network to support church planting throughout London 111,987 95,019
Grants to other Christian churches and mission organisations in the UK and overseas 241,593 222,480
393,909 329,781
The total grants paid to individuals during the yearwas as follows:
2025 2024
£ £
Otherexternalgiving 9,484 32,305

Grants were paid to individuals to support their work in promoting the mission of the church in the wider community.

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THE CO-MISSION CHURCHES TRUST

NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2025

|

6. GRANTS PAYABLE - continued

Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.

  1. SUPPORT COSTS
SUPPORT COSTS
Governance
Management costs Totals
£ £ £
Direct Charitable 2,304 4,663 6,967
Support costs, included in the above, are as follows:
Management
2025 2024
Direct Total
Charitable activities
£ £
Payroll fees 2,304 2,304
Governance costs
2025 2024
Direct Total
Charitable activities
£ £
Auditors' remuneration 3,000 7,940
Auditors' remuneration for non audit work 1,663 7,300
4,663 15,240
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
2025 2024
£ £
Auditors’ remuneration 3,000 7,940
Auditors’ remuneration for non auditwork 1,663 7,300
Depreciation - owned assets 200,796 190,351
Bank loan interest 119,306 157,295
Housingandpropertycosts(includingoperatingleaserentals) 367,448 442,855
  1. NET INCOME/(EXPENDITURE)

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THE CO-MISSION CHURCHES TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2025

9. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees’ remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024.

Trustees' expenses

There were no trustees’ expenses paid for the year ended 31 March 2025 nor for the year ended 31 March 2024.

10. STAFF COSTS

STAFF COSTSCOSTS
2025 2024
£ £
Wages and salaries 1,311,833 1,196,804
Social security costs 132,052 118,421
Other pension costs 182,905 171,503
1,626,790 1,486,728

The average monthly number of employees during the year was as follows:

2025 2024
Administration 13 12
Ministry 36 35
49 47
No employees received emoluments in excess of £60,000.
Keymanagement remuneration
2025 2024
£ £
Salaries and other short-term benefits 41,853 34,764
Post-employment benefits en 3,624 3,000
ee
45,477 37,764

|

| en ee | 45,477 37,764 : Key management includes certain senior employees who have authority and responsibility for planning and controlling the activities of the charity.

11. EXCEPTIONAL ITEMS

During the previous year the charity sold a property for £1,325,000 resulting in an exceptional gain of £828,698.

12. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted Restricted Total
funds funds funds
£ £ £
INCOME AND ENDOWMENTS FROM
Donations and legacies 3,043,351 133,141 3,176,492
Charitable activities
Direct Charitable 54,165 - 54,165
Events and ministry 94,145 - 94,145
Investment income 31,353 - 31,353
Total 3,223,014 133,141 3,356,155

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THE CO-MISSION CHURCHES TRUST

| |

NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2025

12, COMPARATIVES FORTHE STATEMENT OF FINANCIAL COMPARATIVES FORTHE STATEMENT OF FINANCIAL ACTIVITIES - continued ACTIVITIES - continued
Unrestricted Restricted Total
funds funds funds
£ £ £
EXPENDITURE ON
Charitable activities
Direct Charitable 2,485,710 11,502 2,497,212
Grants Payable 356,836 5,250 362,086
Events and ministry 480,804 - 480,804
Exceptional items (note 11) (828,698) - (828,698)
Total 2,494,652 16,752 2,511,404
NET INCOME 728,362 116,389 844,751
Transfers between funds (7,334) 7,334 -
Netmovement in funds 721,028 123,723 844,751
RECONCILIATION OF FUNDS
Total funds brought forward
As previously reported 8,404,635 - 8,404,635
Prioryear adjustment (250,000) - (250,000)
As restated 8,154,635 - 8,154,635
TOTALFUNDSCARRIEDFORWARD 8,875,663 123,723 8,999,386
13. TANGIBLE FIXEDASSETS
Freehold
property		 Improvements
to
property		 Fixtures
and
fittings		 Totals
£ £ E £
COST
At 1 April 2024
Additions
Disposals		 9,353,160
18,132
-		 46,130
-
-		 87,828
19,121
(3,191)		 9,487,118
37,253
(3,191)
At 31 March 2025 9,371,292 46,130 103,758 9,521,180
DEPRECIATION
At 1 April 2024 352,000 2,035 50,427 404,462
Charge for year 188,549 1,153 11,094 200,796
Eliminated on disposal - - (1,433) (1,433)
At 31 March 2025 540,549 3,188 60,088 603,825
NET BOOKVALUE
At 31 March 2025 8,830,743 42,942 43,670 8,917,355
At31March2024 9,001,160 44,095 37,401 9,082,656

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THE CO-MISSION CHURCHES TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

|

14, FIXED ASSET INVESTMENTS

14,
FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£
MARKETVALUE
At 1 April 2024 and 31 March 2025 1
** **’
NET BOOKVALUE
At 31 March 2025
At 31 March 2024 1
There were no investment assets outside the UK.
The company's investments at the balance sheet date in the share capital ofcompanies include the following:
BFTF Management Limited registered number 11937168
Registered office: 577 Kingston Road, London SW20 8SA
Nature of business: Property management
%
Class of share: holding
Ordinary 100
2025 2024
£ £
Aggregate capital and reserves 36 36
Profitfortheyear- - -

The subsidiary company was established to manage the disposal of the leasehold interests in the residential flats constructed as part of the redevelopment of 577 Kingston Road, which was completed in the per year ended 31 March 2023. The company retains the headlease in the properties and became dormant following the disposal of the leasehold interests. As it is no longer trading the subsidiary can be excluded from consolidation under the Charities SORP as_ its inclusion is not material for the purpose of giving a true and fair view

The charitable company is taking advantage of the disclosure exemption conferred by Paragraph 33.1A of FRS 102 in relation to the disclosure of transactions entered into with its subsidiary company, BFTF Management Limited, on the grounds that the parent controls 100% of the voting shares.

  1. DEBTORS
DEBTORS
2025 2024
£ £
Amounts falling due within one year:
Other debtors 22,469 1,417,345
Gift aid debtor 53,776 53,726
Funds held by subsidiary 14,848 4,158
Prepayments 61,068 60,033
152,161 1,535,262

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THE CO-MISSION CHURCHES TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2025

15. DEBTORS - continued
2025 2024
£ £
Amounts falling due after more than one year:
Loan receivable 60,527 -
Aggregate amounts 212,688 1,535,262
During the year the charity provided a loan to King's Church Guildford of £60,000. The amount is to
before2January2030.Interestischargedatarateof1%belowtheBankofEnglandbaserate.		 be repaid on or

In the previous year included in other debtors is an amount receivable of £1,308,039 for the sale of a freehold property.

16. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£ £
Bank loans and overdrafts (see note 18) 30,820 48,469
Social security and othertaxes 32,552 39,790
Other creditors - 885,840
Accrued expenses 95,849 82,066
159,221 1,056,165

In the previous year other creditors includes £883,840 due for the purchase of a freehold property.

17, CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025 2024
£ £
Bank loans (see note 18) 1,807,565 2,302,513
Other loans (see note 18) 195,000 195,000
2,002,565 2,497,513
LOANS
An analysis ofthe maturity of loans is given below:
2025 2024
£ £
Amounts falling due within one year on demand:
Bank loans 30,820 48,469
Amounts falling between one and two years:
Bank loans - 1-2 years 32,811 52,001
Amounts falling due between two and five years:
Bank loans - 2-5 years 111,738 179,889
Concessional loans 2-5 years 195,000 195,000
306,738 374,889
Amounts falling due in more than five years:
Repayable by instalments:
Bankloansmore5yrbyinstal 1,663,016 2,070,623

18. LOANS

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THE CO-MISSION CHURCHES TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

18. LOANS - continued

Concessionary loans consisted of a mixture of equity loans and fixed rate loans. The fixed rate loans were provided interest free and are unsecured. The concessionary loans were provided so the charity could further its public benefit objectives.

Bank loans consist of loans from Reliance Bank and Kingdom Bank. The loans are secured by way of fixed and floating charges over the properties and certain assets of the charity. Interest is charged on the loans at variable rates between 2-3% plus base rate.

19, LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

20.

2025 2024
£ £
Within one year 84,398 83,508
Between one and five years 48,700 5,000
In more than five years 4,748 -
137,846 88,508
ANALYSIS OF NET ASSETS BETWEEN FUNDS
2025 2024
Unrestricted Restricted Total Total
funds funds funds funds
£ £ £ £
Fixed assets 8,917,355 - 8,917,355 9,082,656
Investments 1 - 1 1
Current assets 2,651,646 53,293 2,704,939 3,470,407
Current liabilities (159,221) - (159,221) (1,056,165)
Long term liabilities (2,002,565) - (2,002,565) (2,497,513)
9,407,216 53,293 9,460,509 8,999,386
2024 Comparatives for net assets between funds
Unrestricted Restricted 2024
funds funds Total funds
£ £ £
Fixed assets 9,082,656 - 9,082,656
Investments 1 - 1
Current assets 3,346,684 2,271 3,470,407
Current liabilities (1,056,165) - (1,056,165)
Long term liabilities (2,497,51 (2,497,513)
8,875,663 123,723 8,999,386

ANALYSIS OF NET ASSETS BETWEEN FUNDS

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, | | |

THE CO-MISSION CHURCHES TRUST

NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2025

21. MOVEMENTIN FUNDS.
Net Transfers
movement between At
At 1/4/24 in funds funds 31/3/25
£ £ E £
Unrestricted funds
General fund
Christ Church All Saints Wandsworth		 8,875,663
-		 460,209
83,888		 (12,544)
-		 9,323,328
83,888
8,875,663 544,097 (12,544) 9,407,216
Restricted funds
Boathouse House Fund 50,526 (50,526) - -
Boathouse Youth Worker - (9,137) 9,137 -
CCB New Staff 73,197 (36,694) - 36,503
Boathouse Trainee - 635 - 635
HCS House Fund - 14,165 - 14,165
CCB Flat Fund - 500 - 500
Other Restricted Funds - (1,917) 3,407 1,490
123,723 (82,974) 12,544 53,293
TOTALFUNDS 8,999,386 461,123 - 9,460,509
Net movement in funds, included in the above are as follows:
Incoming Resources Movement
resources expended in funds
£ £ £
Unrestricted funds
General fund 3,793,280 (3,333,071) 460,209
Christ Church All SaintsWandsworth 83,888 - 83,888
3,877,168 (3,333,071) 544,097
Restricted funds
Boathouse House Fund - (50,526) (50,526)
Boathouse Youth Worker 11,502 (20,639) (9,137)
CCB New Staff - (36,694) (36,694)
Eglise Bapiste 37,098 (37,098) -
Boathouse Trainee 1,500 (865) 635
HCS House Fund 14,165 - 14,165
CCB Flat Fund 500 - 500
Other Restricted Funds 4,172 (6,089) (1,917)
68,937 (151,911) (82,974)
TOTALFUNDS 3,946,105 (3,484,982) 461,123

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THE CO-MISSION CHURCHES TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

21, MOVEMENT IN FUNDS - continued

Comparatives formovement in funds Comparatives formovement in funds
Prior Net Transfers
At 1/4/23
£		 year
adjustment
£		 movement
in funds
£		 between
funds
£		 At
31/3/24
£
Unrestricted funds
General fund 8,404,635 (250,000) 728,362 (7,334) 8,875,663
Restricted funds
Boathouse House Fund - - 50,526 - 50,526
Boathouse Youth Worker - - (3,900) 3,900 -
CCB New Staff - - 73,197 - 73,197
Other Restricted Funds - - (3,434) 3,434 -
- - 116,389 7,334 123,723
TOTAL FUNDS 8,404,635 (250,000) 844,751 - 8,999,386
Comparative net movement in funds, included in the above are as follows:
Incoming Resources Movement
resources expended in funds
£ £ £
Unrestricted funds
General fund 3,223,014 (2,494,652) 728,362
Restricted funds
Boathouse House Fund 50,526 - 50,526
Boathouse Youth Worker 5,875 (9,775) (3,900)
CCB New Staff 73,197 - 73,197
Other Restricted Funds 3,543 (6,977) (3,434)
133,141 (16,752) 116,389
TOTALFUNDS 3,356,155 (2,511,404) 844,751

General Funds - Designated

Christ Church All Saints Wandsworth

The charity raised funds to be applied either towards the repair of the All Saints Wandsworth building or, if needed, towards the ongoing gospel ministries of Christ Church All Saints Wandsworth.

Restricted Funds

Eglise Baptiste - Fundraising to support The Eglise Protestante Baptiste du Val d'Europe, a church planted East of Paris in 2015.

Boathouse House Fund - to be used towards buying and improving a residential property in Putney to serve as a family home initially for the senior pastor of The Boathouse Church to better serve his church family.

Boathouse Youth Worker Fund - To be used to support the costs of employing a youth worker at the Boathouse Church.

Boathouse Ministry Trainee - To be used towards the costs of a ministry trainee at the Boathouse Church

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THE CO-MISSION CHURCHES TRUST NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2025

21. MOVEMENT IN FUNDS- continued

HCS House Fund - To be used towards buying a residential property to serve as a family home initially for the new senior pastor of Hope Church Sutton to better serve his church family.

CCB Flat Fund To be used towards buying a residential property to serve as a home for a ministry worker at Christ Church Balham to better serve her church family.

Christ Church Balham Staffing Fund - To be used to support the cost of employing additional staff members, including an operations manager at Christ Church Balham.

Other restricted funds - the charity has received a number of small restricted gifts for the purpose of providing specific gifts. This includes supporting a ministry trainee, Warwick Christian Union, for equipment purchases and camp support.

Transfers between funds

Transfers represent amounts contributed to restricted funds from the charity's unrestricted funds.

22. EMPLOYEE BENEFIT OBLIGATIONS

Eager to take care of the Charity's staff, the Charity, through its financial advisers, established the Co-Mission Workplace Pension Scheme with Royal London and the trustees encourage all staff to participate in this scheme. The Charity pays employer contributions at an average of 10% of basic salary for participating employees and employees are also able to make voluntary employee contributions if they wish.

The pension cost charge includes contributions by the Charity payable to the schemes amounting to £182,905 (2024 - £171,503).

23.

|.[CONTINGENT][LIABILITIES]

The charity has still to settle the final development costs for the development of the church premises. Management and the trustees consider that the amount can not be estimated reliably and is not likely to be material to the financial statements.

24. RELATED PARTY DISCLOSURES

The wife of P D Cooper, a trustee, is employed by the Charity as a church ministry worker and her remuneration for the year was £10,940 (2024 - £10,263).

During the year the charity received donations without conditions totalling £30,532 (2024 £41,052) from trustees.

During the year ended 31 March 2020, the Charity established a trading subsidiary (BFTF Management Limited) as part of the Charity's arrangements to redevelop one of its freehold properties. In doing so, the Charity granted a lease to BFTF Management Limited for 999 years for the consideration of a peppercorn rent.

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