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2025-12-31-accounts

REGISTERED CHARITY NUMBER: 1159493

Report of the Trustees and

Unaudited Financial Statements

for the Year Ended 31 December 2025

for

Euston Church

Garside and Co. Limited Suite 631, Linen Hall 162-168 Regent Street London W1B 5TG

Euston Church

Contents of the Financial Statements for the Year Ended 31 December 2025

Page
Reference and Administrative Details 1
Report of the Trustees 2 to 4
Independent Examiner's Report 5
Statement of Financial Activities 6
Balance Sheet 7
Cash Flow Statement 8
Notes to the Cash Flow Statement 9
Notes to the Financial Statements 10 to 17
Detailed Statement of Financial Activities 18 to 19

Euston Church Reference and Administrative Details for the Year Ended 31 December 2025

TRUSTEES Reverend K Murdoch
A Geers (resigned 31.8.2025)
B Lund
M C Clokey
L R Rosa
R Nyam
E R Hill (resigned 11.3.2026)
K Xu
P Mokuolu
A Smart
G H Zhen (resigned 31.3.2025)
K Tan (resigned 31.3.2025)
T Irvine
J O'Grady
C Hogg (appointed 31.3.2025)
G Tan (appointed 11.3.2026)
PRINCIPAL ADDRESS The Cloisters
Gordon Square
London
WC1H 0AG
REGISTERED CHARITY NUMBER 1159493
INDEPENDENT EXAMINER Garside and Co. Limited
Suite 631, Linen Hall
162-168 Regent Street
London
W1B 5TG
BANKERS Reliance Bank
Faith House
23-24 Lovat Lane
London
EC3R SEB

Page 1

Euston Church

Report of the Trustees for the Year Ended 31 December 2025

The trustees present their report with the financial statements of the charity for the year ended 31 December 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

The objects of Euston Church are to advance religion in accordance with the tenets and practices of the Church of England, including (without limitation):

Activities

During the financial review period, Euston Church has conducted the following principal activities:

• Books of the bible preached through at Sunday services included Job, Daniel, Luke, 1 Kings, 2 Thessalonians, Psalms and Revelation. Euston Church held carol services for Christmas and special services for Easter. Several one-off events were also held.

• Over 25 small groups met throughout the year. The groups studied Exodus for the academic year to June 2025. From the start of the academic year that commenced in October 2025, the workers and families groups studied Hebrews and the student groups studied Mark.

• Euston Church has supported a number of mission partners overseas including Maxime and Demelza Soumangas in France, Alex and Sara Manlow in Belgium, Robyn Drake in New Zealand, Elizabeth Burgener in the Arab world, Rachel Paul in South Asia, Alkesh and Katie Woods in China, Jonathan and Jess Forster in Belgium and Caitlin Ng in Thailand.

Safeguarding

The Trustees have complied with the duty under Section 5 of the Safeguarding and Clergy Discipline Measure 2016 in relation to having due regard to the House of Bishop's guidance on safeguarding children and vulnerable adults.

Public benefit

The Trustees have considered the Charity Commissioners' Guidance on Public Benefit and, in particular, the specific guidance on Charities for the Advancement of Religion and are satisfied that the activities of Euston Church fall within such guidance.

Page 2

Euston Church

Report of the Trustees for the Year Ended 31 December 2025

ACHIEVEMENTS AND PERFORMANCE

The Trustees consider that the main achievements of Euston Church in the financial period have been:

• public proclamation of the gospel at Sunday services, midweek services and guest events, bible studies and one-to-one ministry, which has led to increased understanding of the gospel of Jesus Christ for members of Euston Church, the wider local community and contacts of members of Euston Church;

FINANCIAL REVIEW

Financial position

In the financial year ended 31 December 2025, Euston Church's total income was £579,352 (2024: £540,052), reflecting overall growth compared with the prior year. Income was primarily generated through donations and legacies of £535,869 (2024: £483,871), which continued to be the charity's main funding source. Investment income was of £3,070 (2024: £2,521), and other income of £40,413 (2024: £53,660), of which £9,000 was restricted funding for missionary activity and trainee support.

Total expenditure for the year was £515,873 (2024: £517,031), leaving it with net income of £63,479 (2024: £23,021). Total staff costs were £304,257 (2024: 294,035), being 59% of total expenditure (2024: 57%).

Reserves policy

As at 31 December 2025, the charity had cash at bank of £241,813 (2024: £181,811) of which £232,813 (2024: £181,811) was unrestricted. The unrestricted cash balance was equivalent to 46% of total expenditure (2024: 35%) or approximately 5 months of expenditure. The Trustees' medium-term aim is to maintain reserves sufficient to cover three months of operating costs.

FUTURE DEVELOPMENTS

There are no material changes to Euston Church's activities contemplated in 2026.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document and nature of entity

Euston Church is a Charitable Incorporated Organisation established in accordance with the Charities Act 2011. The operation of Euston Church is governed by its constitution, adopted on 4 December 2014.

Trustees

Euston Church's constitution appoints the Trustees to manage the affairs of Euston Church and to exercise all the powers of Euston Church. New Trustees may be appointed in two ways: (1) for a term of four years by a resolution passed at a properly convened meeting of the Trustees (up to eight Trustees) (2) for a term of four years by the members of the congregation of Euston Church at an annual general meeting of the congregation of Euston Church organised by the Trustees, provided that any person so appointed is a member of the congregation of Euston Church (up to 4 Trustees). Notwithstanding the express terms of Euston Church's constitution, all Trustees' continued appointment is currently ratified at the annual general meeting of the congregation of Euston Church in each year, in accordance with the practice of the Church of England.

In considering the appointment of new Trustees, the existing Trustees must have regard to the skills, knowledge and experience needed for the effective administration of Euston Church. Every Trustee must subscribe and adhere in belief and lifestyle to the Christian faith, must be a member of the congregation of the Euston Church Mission Initiative and must be willing to participate actively in that Mission Initiative.

Anyone becoming a Trustee receives a copy of Euston Church's constitution and the annual report and statement of accounts and is required to sign a statement confirming that he or she is eligible to be a Trustee and to declare any possible conflicts of interest. There are no formal procedures for the induction of Trustees. Trustees are provided with appropriate training when required and having regard to training recommended by the Church of England.

Page 3

Euston Church

Report of the Trustees for the Year Ended 31 December 2025

STRUCTURE, GOVERNANCE AND MANAGEMENT

Trustees Meetings

The Trustees meet ordinarily five times a year and on an ad hoc basis when required. Trustee meetings are chaired by the Reverend Kevin Murdoch, the minister of Euston Church. The Trustees take appropriate decisions on all aspects of the operation of Euston Church. The Trustees also adopt policies to comply with legislation in the areas of health and safety, safeguarding, remuneration and conflicts of interest.

Day to day financial matters are delegated by the Trustees to Euston Church's treasurer, Kelvin Xu and its bookkeeper, Catrin Lee (until October 2025) and Amy Mullock (from November 2025). Kelvin Xu prepares an annual budget and supports the independent examination of the accounts. The Trustees have oversight of financial matters, including approval of major items of expenditure and the annual budget. Day to day ministry matters are delegated to the Reverend Kevin Murdoch, who reports on those matters to the Trustees regularly.

Risk Management

The Trustees review the major risks to which Euston Church is exposed and relies on appropriate insurance cover, as well as actively monitoring compliance with Euston Church's policies, to protect against those risks.

OTHER REFERENCE AND ADMINISTRATIVE DETAILS

Bankers

Reliance Bank Faith House 23-24 Lovat Lane London EC3R SEB

Independent examiner

Gareth Hughes Institute of Chartered Accountants in England and Wales Garside and Co. Limited Suite 631, Linen Hall 162-168 Regent Street London W1B 5TG

05/08/2026

Approved by order of the board of trustees on ............................................. and signed on its behalf by:

............................................................................... K Xu - Trustee

Page 4

Independent Examiner's Report to the Trustees of Euston Church

Independent examiner's report to the trustees of Euston Church

I report to the charity trustees on my examination of the accounts of Euston Church (the Trust) for the year ended 31 December 2025.

Responsibilities and basis of report

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

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

Independent examiner's statement

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

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

  1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.

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

Gareth Hughes The Institute of Chartered Accountants in England and Wales

Garside and Co. Limited Suite 631, Linen Hall 162-168 Regent Street London W1B 5TG 05/08/2026 Date: .............................................

Page 5

Euston Church

Statement of Financial Activities for the Year Ended 31 December 2025

Unrestricted
funds
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
535,869
Investment income
3
3,070
Other income
4
31,413
Total
570,352
EXPENDITURE ON
Charitable activities
5
Church activities
506,873
NET INCOME
63,479
RECONCILIATION OF FUNDS
Total funds brought forward
172,224
TOTAL FUNDS CARRIED FORWARD
235,703		 31.12.25
31.12.24
Restricted
Total
Total
fund
funds
funds
£
£
£
-
535,869
483,871
-
3,070
2,521
9,000
40,413
53,660
9,000
579,352
540,052
9,000
515,873
517,031
-
63,479
23,021
-
172,224
149,203
-
235,703
172,224		 31.12.25
31.12.24
Restricted
Total
Total
fund
funds
funds
£
£
£
-
535,869
483,871
-
3,070
2,521
9,000
40,413
53,660
9,000
579,352
540,052
9,000
515,873
517,031
-
63,479
23,021
-
172,224
149,203
-
235,703
172,224
540,052
517,031
23,021
149,203
172,224

The notes form part of these financial statements

Page 6

Euston Church

Balance Sheet 31 December 2025

Unrestricted
funds
Notes
£
FIXED ASSETS
Tangible assets
10
2,543
CURRENT ASSETS
Debtors
11
28,120
Cash at bank
232,813
260,933
CREDITORS
Amounts falling due within one year
12
(27,773)
NET CURRENT ASSETS
233,160
TOTAL ASSETS LESS CURRENT LIABILITIES
235,703
NET ASSETS
235,703
FUNDS
14
Unrestricted funds
TOTAL FUNDS		 31.12.25
31.12.24
Restricted
Total
Total
fund
funds
funds
£
£
£
-
2,543
4,707
-
28,120
24,866
9,000
241,813
181,811
9,000
269,933
206,677
(9,000)
(36,773)
(39,160)
-
233,160
167,517
-
235,703
172,224
-
235,703
172,224
235,703
172,224
235,703
172,224

The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:

............................................. K Xu - Trustee

The notes form part of these financial statements

Page 7

Euston Church

Cash Flow Statement for the Year Ended 31 December 2025

31.12.25 31.12.24
Notes £ £
Cash flows from operating activities
Cash generated from operations 1 56,932 79,582
Net cash provided by operating activities 56,932 79,582
Cash flows from investing activities
Purchase of tangible fixed assets - (725)
Interest received 3,070 2,521
Net cash provided by investing activities 3,070 1,796
Change in cash and cash equivalents in the
reporting period 60,002 81,378
Cash and cash equivalents at the beginning of
the reporting period 181,811 100,433
Cash and cash equivalents at the end of the
reporting period 241,813 181,811

The notes form part of these financial statements

Page 8

Euston Church

Notes to the Cash Flow Statement for the Year Ended 31 December 2025

1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
31.12.25 31.12.24
£ £
Net income for the reporting period (as per the Statement of Financial
Activities) 63,479 23,021
Adjustments for:
Depreciation charges 2,164 2,308
Interest received (3,070) (2,521)
(Increase)/decrease in debtors (3,254) 43,197
(Decrease)/increase in creditors (2,387) 13,577
Net cash provided by operations 56,932 79,582

2. ANALYSIS OF CHANGES IN NET FUNDS

At 1.1.25 Cash flow At 31.12.25
£ £ £
Net cash
Cash at bank 181,811 60,002 241,813
181,811 60,002 241,813
Total 181,811 60,002 241,813

The notes form part of these financial statements

Page 9

Euston Church

Notes to the Financial Statements for the Year Ended 31 December 2025

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charity, 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 Charities Act 2011. The financial statements have been prepared under the historical cost convention.

The PCC meets the definition of a public benefit entity under FRS 102.

The financial statements are prepared in pound sterling (£), which is the functional currency of the charity.

The trustees consider that there are no material uncertainties about the PCC's ability to continue as a going concern.

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.

Donations and legacies are included in the Statement of Financial Activities when any pre-conditions preventing their use by the PCC have been met. For collections and planned giving this is when the funds are received.

Gift aid and other tax claims are included in the Statement of Financial Activities at the same time as the cash donations to which they relate.

Investment income is interest earned on bank deposit accounts and is included in the accounts when receivable.

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.

Operating leases

Rentals applicable to operating leases where all of the benefits and risks of ownership remain with the lessor are charged against the surplus for the year on a straight-line basis over the period of the lease.

Tangible fixed assets

Tangible fixed assets are initially measured at costs and subsequently measured at cost or valuation, net of depreciation and any provision for impairment.

Depreciation is recognised so as to write off the cost or valuation less estimated residual values of all fixed assets over their expected useful lives. It is calculated at the following rates:

Plant and machinery 20% on cost Fixtures and fittings 20% on cost Computer equipment 33.3% on cost

Consecrated and benefice property

In so far as consecrated and benefice property of any kind is excluded from the statutory definition of 'charity' by Section 10(2)(a) and (c) of the Charities Act 2011 such assets are not capitalised in the financial statements.

Taxation

The charity is exempt from tax on its charitable activities.

continued...

Page 10

Euston Church

Notes to the Financial Statements - continued for the Year Ended 31 December 2025

1. ACCOUNTING POLICIES - continued

Fund accounting

Unrestricted funds represent the funds of the PCC that are not subject to any restrictions regarding their use and are available for application on the general purposes of the PCC. Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Pension contributions

Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Amounts owed to the PCC at the year end in respect of fees, gift aid recoverable or other income are shown as debtors, less provision for amounts that may prove uncollectible.

Cash at Bank and in hand

Cash at bank and 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.

Liabilities

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

Financial instruments

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

2.

3.

DONATIONS AND LEGACIES

31.12.25 31.12.24
£ £
Planned giving and collections 462,810 413,417
Gift aid 73,059 70,454
535,869 483,871
INVESTMENT INCOME
31.12.25 31.12.24
£ £
Deposit account interest 3,070 2,521

continued...

Page 11

Euston Church

Notes to the Financial Statements - continued for the Year Ended 31 December 2025

4.
OTHER INCOME
Other income - weekend away
Other income - contributions to cost of food
Other income - events
Other income - specific gifts
Other income - trainee support
5.
CHARITABLE ACTIVITIES COSTS
Church activities
6.
DIRECT COSTS OF CHARITABLE ACTIVITIES
Trustees' remuneration
Staff costs
Other staff costs
Weekend away costs
Missionary and charitable giving
Rent and rates
Insurance costs
Events and catering
Books and publications
Advertising and promotion
Computer expenses and website
Church running costs
Music licence fees
Travelling costs
Clergy expenses
Music and technical expenses
Tuition fees
Sundries
Subscriptions
Repairs and maintenance
Depreciation charges		 31.12.25
31.12.24
£
£
22,758
44,332
6,207
5,192
2,448
4,136
5,000
-
4,000
-
40,413
53,660
Direct
Support
Costs (see
costs (see
note 6)
note 7)
Totals
£
£
£
491,982
23,891
515,873
31.12.25
31.12.24
£
£
88,227
68,514
216,030
225,521
3,495
18,901
22,908
57,953
27,379
18,396
15,468
8,963
3,846
4,356
15,952
14,467
1,609
1,309
1,043
2,963
2,504
1,841
15,575
14,103
48
1,264
1,569
427
52,322
31,058
380
684
17,902
15,239
665
375
1,744
1,435
1,152
-
2,164
2,308
491,982
490,077		 31.12.25
31.12.24
£
£
22,758
44,332
6,207
5,192
2,448
4,136
5,000
-
4,000
-
40,413
53,660
Direct
Support
Costs (see
costs (see
note 6)
note 7)
Totals
£
£
£
491,982
23,891
515,873
31.12.25
31.12.24
£
£
88,227
68,514
216,030
225,521
3,495
18,901
22,908
57,953
27,379
18,396
15,468
8,963
3,846
4,356
15,952
14,467
1,609
1,309
1,043
2,963
2,504
1,841
15,575
14,103
48
1,264
1,569
427
52,322
31,058
380
684
17,902
15,239
665
375
1,744
1,435
1,152
-
2,164
2,308
491,982
490,077
490,077

Clergy expenses increased from £31,058 for the year ended 31 December 2024 to £52,322 for the year ended 31 December 2025, an increase of £21,264. The increase was mainly due to the cost of a new lease for a flat occupied by the Associate Minister, with the additional costs relating primarily to rent and council tax associated with the new accommodation arrangement.

Tuition fees increased from £15,239 for the year ended 31 December 2024 to £17,902 for the year ended 31 December 2025, an increase of £2,663. These costs relate to external training courses funded by Euston Church for its ministry trainees and staff.

continued...

Page 12

Euston Church

Notes to the Financial Statements - continued for the Year Ended 31 December 2025

7. SUPPORT COSTS

SUPPORT COSTS
Governance
Finance costs Totals
£ £ £
Church activities 7,953 15,938 23,891
Support costs, included in the above, are as follows:
31.12.25 31.12.24
Church Total
activities activities
£ £
Bank charges 7,953 4,953
Legal and other professional fees 11,618 17,681
Independent examination fees 4,320 4,320
23,891 26,954

8. TRUSTEES' REMUNERATION AND BENEFITS

During the year ended 31 December 2025 and the year ended 31 December 2024, two of the trustees were paid remuneration or has received other benefits under approved contracts of employment.

Total remuneration and other benefits, including employer pension contributions, was as follows:

Rev K Murdoch
J O'Grady		 31.12.25
£
50,945
37,282
88,227		 31.12.24
£
50,197
18,317
68,514

Trustees' expenses

During the year, the church made payments to the Catholic Apostolic Church Trust of £6,000 (2024: £6,000) in respect of the lease of a flat occupied by the vicar, Reverend Kevin Murdoch, and £24,000 (2024: £6,000) in respect of the lease of a flat occupied by the Associate Minister, Jack O'Grady.

During the year, reimbursements totalling £1,337.64 (2024: £1,475.00) were made to trustees for expenses incurred in the course of carrying out their duties.

continued...

Page 13

Euston Church

Notes to the Financial Statements - continued for the Year Ended 31 December 2025

9. STAFF COSTS

STAFF COSTS
31.12.25 31.12.24
£ £
Wages and salaries 268,055 263,633
Social security costs 9,483 12,338
Other pension costs 26,719 18,064
304,257 294,035
The average monthly number of employees during the year was as follows:
31.12.25 31.12.24
Ministry 9 9
No employees received emoluments in excess of £60,000.

10. TANGIBLE FIXED ASSETS

10. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£ £ £ £
COST
At 1 January 2025 and 31 December 2025 41,980 12,212 2,467 56,659
DEPRECIATION
At 1 January 2025 38,929 10,559 2,464 51,952
Charge for year 1,616 545 3 2,164
At 31 December 2025 40,545 11,104 2,467 54,116
NET BOOK VALUE
At 31 December 2025 1,435 1,108 - 2,543
At 31 December 2024 3,051 1,653 3 4,707
11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.25 31.12.24
£ £
Deposits held 3,092 2,600
Gift aid receivable 15,339 18,191
Other debtors 6,209 1,501
Prepayments and accrued income 3,480 2,574
28,120 24,866

continued...

Page 14

Euston Church

Notes to the Financial Statements - continued for the Year Ended 31 December 2025

12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25 31.12.24
£ £
Trade creditors 413 2,784
Other creditors 27,154 7,890
Accrued expenses 9,206 28,486
36,773 39,160
LEASING AGREEMENTS
Minimum lease payments under non-cancellable operating leases fall due as follows:
31.12.25 31.12.24
£ £
Within one year 30,500 34,667
Between one and five years 11,333 40,333
41,833 75,000
MOVEMENT IN FUNDS
Net
movement At
At 1.1.25 in funds 31.12.25
£ £ £
Unrestricted funds
General fund 172,224 63,479 235,703
TOTAL FUNDS 172,224 63,479 235,703
Net movement in funds, included in the above are as follows:
Incoming Resources Movement
resources expended in funds
£ £ £
Unrestricted funds
General fund 570,352 (506,873) 63,479
Restricted funds
Restricted Fund 9,000 (9,000) -
TOTAL FUNDS 579,352 (515,873) 63,479

13. LEASING AGREEMENTS

14. MOVEMENT IN FUNDS

Page 15

continued...

Euston Church

Notes to the Financial Statements - continued for the Year Ended 31 December 2025

14. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Net
movement At
At 1.1.24 in funds 31.12.24
£ £ £
Unrestricted funds
General fund 149,203 23,021 172,224
TOTAL FUNDS 149,203 23,021 172,224
Comparative net movement in funds, included in the above are as follows:
Incoming Resources Movement
resources expended in funds
£ £ £
Unrestricted funds
General fund 540,052 (517,031) 23,021
TOTAL FUNDS 540,052 (517,031) 23,021
A current year 12 months and prior year 12 months combined position is as follows:
Net
movement At
At 1.1.24 in funds 31.12.25
£ £ £
Unrestricted funds
General fund 149,203 86,500 235,703
TOTAL FUNDS 149,203 86,500 235,703
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
Incoming Resources Movement
resources expended in funds
£ £ £
Unrestricted funds
General fund 1,110,404 (1,023,904 ) 86,500
Restricted funds
Restricted Fund 9,000 (9,000) -
TOTAL FUNDS 1,119,404 (1,032,904 ) 86,500

Page 16

continued...

Euston Church

Notes to the Financial Statements - continued for the Year Ended 31 December 2025

15. RELATED PARTY DISCLOSURES

Apart from transactions relating to trustees' remuneration and benefits set out in Note 10, during the year the charity incurred costs of £1,400 (2024: £Nil) in respect of consultancy services provided by a close family member of a trustee. The arrangement was approved in accordance with the charity's conflict of interest policy.

The aggregate donations made to the church by trustees during the year ended 31 December 2025 amounted to £101,455 (2024: £101,247).

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Euston Church

Detailed Statement of Financial Activities for the Year Ended 31 December 2025

Detailed Statement of Financial Activities
for the Year Ended 31 December 2025
31.12.25 31.12.24
Unrestricted Restricted Total Total
funds funds funds funds
£ £ £ £
INCOME AND ENDOWMENTS
Donations and legacies
Planned giving and collections 462,810 - 462,810 413,417
Gift aid 73,059 - 73,059 70,454
535,869 - 535,869 483,871
Investment income
Deposit account interest 3,070 - 3,070 2,521
Other income
Other income - weekend away 22,758 - 22,758 44,332
Other income - contributions to cost of food 6,207 - 6,207 5,192
Other income - events 2,448 - 2,448 4,136
Other income - specific gifts - 5,000 5,000 -
Other income - trainee support - 4,000 4,000 -
31,413 9,000 40,413 53,660
Total incoming resources 570,352 9,000 579,352 540,052
EXPENDITURE
Charitable activities
Trustees' remuneration and benefits 88,227 - 88,227 68,514
Staff wages 179,828 - 179,828 195,119
Staff social security 9,483 - 9,483 12,338
Staff pension contributions 26,719 - 26,719 18,064
Other staff costs 3,495 - 3,495 18,901
Weekend away costs 22,908 - 22,908 57,953
Missionary and charitable giving 18,379 9,000 27,379 18,396
Rent and rates 15,468 - 15,468 8,963
Insurance costs 3,846 - 3,846 4,356
Events and catering 15,952 - 15,952 14,467
Books and publications 1,609 - 1,609 1,309
Advertising and promotion 1,043 - 1,043 2,963
Computer expenses and website 2,504 - 2,504 1,841
Church running costs 15,575 - 15,575 14,103
Music licence fees 48 - 48 1,264
Travelling costs 1,569 - 1,569 427
Clergy expenses 52,322 - 52,322 31,058
Music and technical expenses 380 - 380 684
Tuition fees 17,902 - 17,902 15,239
Sundries 665 - 665 375
Carried forward 477,922 9,000 486,922 486,334

This page does not form part of the statutory financial statements

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Euston Church

Detailed Statement of Financial Activities for the Year Ended 31 December 2025

Detailed Statement of Financial Activities
for the Year Ended 31 December 2025
31.12.25 31.12.24
Unrestricted Restricted Total Total
funds funds funds funds
£ £ £ £
Charitable activities
Brought forward 477,922 9,000 486,922 486,334
Subscriptions 1,744 - 1,744 1,435
Repairs and maintenance 1,152 - 1,152 -
Depreciation - Plant and machinery 1,616 - 1,616 1,663
Depreciation - Fixtures and fittings 545 - 545 546
Depreciation - Computer equipment 3 - 3 99
482,982 9,000 491,982 490,077
Support costs
Finance
Bank charges 7,953 - 7,953 4,953
Governance costs
Legal and other professional fees 11,618 - 11,618 17,681
Independent examination fees 4,320 - 4,320 4,320
15,938 - 15,938 22,001
Total resources expended 506,873 9,000 515,873 517,031
Net income 63,479 - 63,479 23,021

This page does not form part of the statutory financial statements

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