Charity reg18trallon number 11673361England and Wales)
Company registration numb8r 10102445
THE LIThLEGATE TRUST
AUDITED ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025

THE LITTLEGATE TRUST
LEGAL AND ADMINISTRATIVE INFORMATION
Trustses
MrAI Cory
MrA Marcham
Mr J S Pitman
Mr J WW Stevens
Mrs L Chadwid(
Mr P V Lindon
Mr R D Cooper
Mr S D Pillar
(Appointed 27 March 2025)
(Appointed 27 March 2025>
Charlty number (England and Wal88)
1167335
Company number
10102445
Rogistered offlce
The Pennyfarthing
Pennyfarthing Place
Oxford
Oxfordshire
England
OX1 1QF
Accountants
Richardsons
30 Upper High Street
Thame
Oxfordshire
OX9 3EZ
Audltor8
Prfce Bailey LLP
24 Okl Bond Street
London
W1S4AP
Bankers
Natwest Bank
11 Market Place
Abingdon
OX14 3HH
Sollcltor8
Edward Connor Socilitors
39 The Point
Market Hart)orough
LE16 7QU

THE LITTLEGATE TRUST
CONTENTS
Pago
Trustees, report
Independent auditorfs report
Statement of financial actlvlties
Balance sheet
statement of cash flows
io
Notss to the finandal statements

THE LITTLEGATE TRUST
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT)
FOR THE YEAR ENDED 30 APRIL 2025
The TNstees, who are also known as directors. are pleased to present their annual directors, report together with
the financial statements of the charitable company for the period ending 30 April 2025, whith are also prepared to
meet the requirements for a directors, report and accounts for Companies Act purposes.
The financial ststements have been prepared in accordance with the accounting policies set out in note 1 to the
financial statements and comply with the charity's goveming document, the Companies Act 2006, FRS 102 'The
Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "A£counting
and Reporting by Charities= Ststement of Recommended Practice applicable to tharities preparing their accounts in
accordance with the Financial Reporting Standard applicable in the UK and Republic of Ir81and (FRS 102)"
Objectives and activitles
The purpose and vision of the charty are to advan￿ the Evangelical Christian faith. in particular (but without
limitation) by providing premises for churches and other Christian charities or groups to meet and b carry out
activities and make grants to organisations who are in sympathy with the Trust's objectives. It may also provide
accommodation for staff employed by, or offi￿hOlderS within, churches and other Christian charities.
This vision noted above will be for the benefit of both church members and for the wider public at large. By
promoting the Christian faith, the charity enables mèmbers of the public to better understand their purpose in lrfe.
th8 moral framework that arlses from understanding the Bible's teaching and the peace with God that comes from
trusting in Jesus Christ. The charity also enables Christians to exerclse their rights to freedom of worship,
association and expression for the good of society, demonstrating the importance of those freedoms.
The servic8s of worship and other activit188 run on the premises wlll b8 open to members of the public, so enabling
them to h8ar about the Christian faith and a Christian way of life. The Trustees also expect that the premises
provided to churches and Christian groups will be used for a wider benefit to the community, including those who
are disadvantaged and in need, by providing a focal point for the community and for people to seek support and
help in times of difficulty.
Of particular importance in thi5 regard is Ihe fact that the meeting rooms in Thè Pennyfarthing binlding are now
being used as the location for the offices of the St Ebb8'8 Debt Centre. The Debt Centre provides debt counselling
for people in financial difficulty, including those in need of bankruptcy or insolvency. Whilst the organisalions who
are permitted to use the premises the trustees provide will need to be in sympathy with the charity* doctrine and
ethos, the Trustees are satisfied that this is permitted under section 196 (Schedule 23) of the Equality Act.
Furthemiore, whilst decision-making activities and some limited services may need to be restricted In their
participation to those who agree with this doctrinal basis, it Is expected that most activities will be open to all
members of the public should they wish to attend. In shaping the charity's objectives, therefor8, the Trustees
confirm they have had due regard to the Charity Commission's guidance on publlc benefit and are satisfied that this
has been adhered to.
Achi8vements and perfonnanc
Significant actiwties and achiov8ments against obiediv8S
In its nineth year the Trustees were pleased to see the continued realisation of their primary vision to provide places
for Church congregations and other Christian organisations to meet and for Christian activities to take place. In
addition to the continued oversight of existing property assets used in line with this aim, during the 2024-25 financial
year the Trustee5' primary focus has been the continued improvement and expansion of its estate to serve better
the gospel needs of Oxford and beyond.
With that aim, The Littlegate Trust purchased two new properties within the year. Both of these properties are in
lower income areas, expanding on the charity's desire to support ministry in a range of neighbourhoods in Oxford.
The Trustees have also continued to receive modest donations during the 2024-25 year. Throughout all these
achievements the Trustees remain immeasurably grateful to all those who have 5UPPOrted the charity's vision. This
has been evidenced in various ways. including through sacrificial financial contributions, practical aid, professional
support and through prayer. The Trustees give great thanks to God for all that has taken place during the financial
year.

THE LITTLEGATE TRUST
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
Financial review
During the year ended 30 April 2025 the Littlegate Trust raised £76.781 in donations (2024.. £156.782), was granted
no gifted assets {2024'. £2.629.9531 and generated £184.430 in property income (2024.. £143,690). The Trust's core
fvnding has come from individual donors and from propety rental. Expenditure on charitable activities increased to
£778,182 (2024.. £280,310) primarily as a result of increased mortgage interest and legal wsts relating to the
properties and assets acquired.
At the end of the year the Trust held cash reserves of £184,560 (2024". £536,015).
R￿Se￿oS policy
It is the policy of the charity that unrestricted funds which have not been d88ignated for a Specific use should be
maintained at a level equivalent to bebNeen not less than three month's expènditure. The trustees consider that
reseNes at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the
charity's current activities while consideration is given to ways in which additional fvnds may be raised. This18vel of
reserves has been maintained throughout the year.
Funds held as custodian trustee
The Littlegate Trust holds no funds on behalf of others in the role of custodian trustee.
Structurei governance and managemènt
The Littlegate Trust Is a company limited by guarantee governed by its Memorandum and Articles of Association,
dated 4 April 2018.
It is registered as a charity with the Charity Commisslon. Membership of the company is only open to the Trustees,
each of whom shall be admitted as a member automatically on their appointment as a Trustee.
During the year there were eight members and the maximum number of members and trustees is nine. The names.
initial lengths of term and dates of appointment of the Trustees are set out below.
Names of Trustees.. Term.. Date of appointment:
MrAlexander Marcham.. 6 years.. 4 April 2018 (reappointed for further term of 5 years)
Mr Simon Pillar: 6 years: 4April 2016 {reappointed for further term of 5 years)
Mr Jack Pitman.. 5 years: S February 2018 (reappointed for further term of 5 years)
Mr Robin Cooper.. 5 years: 2 February 2019 (reappointed for further temi of 5 years)
Mr Paul Lindon: 5 years: 10 D8￿rnber 2019
Mr Jamès Stevens.. 5 years.. 29 June 2022
MrAli5tair Cory: 5 years.. 27 March 2025
Mrs Lindsay Chadwick.. 5 years.. 27 March 2025
Paul Lindon was r&appointed for a further 5-year term, following th8 completion of his initial term of office on 10
December 2025.
Apart from as set out above, every Trustee must be appointed for no more than 5 years and no Trustee may
serve for more than threè consecutive terms of office without the passage of at least one intervening year
during which time they do not serve as a Trustee.

THE LITTLEGATE TRUST
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
Appointm8nt, induction & training of trustees
New trustees must be appointed by a 75% majority of the total number of tru5tee5.
In order to be eligible to be appointed as a trustee an individual must be over 18 years of age and must confimi in
writing his or her willingness to be appointed as a trustee and his or her wholehearted and unreserved agreement
with, and support for. the Objects of the Littlegate Trust, including those statements set out in the Statement of Faith
induded as Schedule 1 to the Memorandum and Artides of Association.
All trustee appointments must be on the ba8lS that the existing trustees are satisfied conceming the appointee's
wholehearted commitments to the Objects of the Littlegate TTUSt and commitment to the responsibilities of being a
Trustee, and in particular concerning th& balan￿ of skills, knowlèdge and experien¢e needed for the effective
administration of the Litt18gate Trust.
All appointments are also Subject to approval from an external body, cU￿entlY The Matthew Ministry (registered
charity number 1166819). Trustee induction and training has tsken place.
Romoval of trust88S
Trustees may be disqualified or removed from office for various reasons. These Include administrative (the missing
of 3 consecutive meetings of trustees), clerical (bankruptcy or disqualification under the Charities Act or the
Companies Act), for reasons or capacity {e.g., for mentsl or physlcal incapacity) or through no longgr subscrlblng to
the Objects of the company, as set out in the Memorandum and ArtiGles ofAssociation.
Organisation
NO￿lthStanding the note above, a Chair of the trustees Is typically appointed to lead proceedings. The trustees
must meet at least ￿l¢e annually but may meet more frequently as required. A quorum is present at meetings
where five trustees are in attendance (if the total number of trustee6 is eight). Decisions made in a meeting are
determined by a simple majority vote. All trustees are unpaid.
Risk management
A risk management policy incorporating a detailed risk register ha8 been creatsd and approved by the Trustees.
This Is divided into areas of Governance. Operational, Financial, Environmental or external factors and Compliance
risks. This is reviewed annually.
Key risks and controls in place to mitigate these risks include..
Fraud and misappropriation of assets - independent accounting and auditing ffims have full access to our general
ledger and monitor payments. Two party authentication of all OLrtgoing payments has been estsblished via the use
of Natrwest Bankline.,
Neglect of properties resulting in loss of value or exposure to liability to tenants or other occupants - a register of
properties together with diary management of all required safety certifications and insurance schedules is
maintained to ensure these are always up to date. Much day-to-day responsibility for general maintenance has
been delegated to tenants under terms of rental agreements, nonetheless, a programme of visits to each property to
assess condition and required improvements is also being established. A dedicated sinking fund is in place to
ensure we have the necessary resources to address any needs as they arise.
Skills and experience of Trustees for the nature of our charitable objects and bench strength to mitigate key person
risk- trustees are carefully selected to support and enhance our required skills and seek to ensure that at least
Trustees have deep knowledge and skill in each of our key areas of responsibility.
Default on rental payments by our principal tenant - we maintain a close personal and theological relationship with
st Ebbe's Church and our reserves policy is SLrfIGient to cover up to 3 months non-payment.
statem8nt of trustee$, re5ponslbllitios
The trustees are responsible for preparing the Trustees, Annual Report and the financial statements in accordance
with applicable law and regulations.

THE LITTLEGATE TRUST
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
Company Law requires the trustees to prepare financial statements for each financial year. Under that law the
trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted
Accounting Practice (United Kingdom Accounting Standards and applicable law), induding financial reporting
standard 102= Th8 Financial Reporting Standard ApplirAble in the UK & Republic of Ireland (FRS 102).
Under company law the Trustees must not approve the financial statements unless they are satisfied that they give
true and fair view of the state of affairs of the charity and of the incoming resources and application of resource of
the charity for that period. In preparing these financial statements, the trustees are required to..
select suitable accounting policies and apply them consistently;
observe the methods and principles in the Charities SORP.,
make judgements and estimates that are reasonable and prudent.,
state whether applicable UK Accounting Standards have been followed, subject to any material deparbjres
disclosed and explained in the financial statements;
prepare the financial statements on the going concem basis unless it is inappropriate to presume that the
charitable company will continue in operation.
The trustees are responsibla for keeping adequate accounting records that disclose with reasonable accura￿ at
any time the financial position of the charity and enable It to ensure that the financial statements comply with the
Companies Act 2006. It Is also responsible for safeguardlng the assets of the charity ar)d hence for taking
reasonable steps for the prevention and detection of fraud and other irregularities.
In so far as the trustees are aware..
There is no relevant audit information of which the company's auditor 1$ unaware
The Trustees have tak8n all steps that they ought to have tsken to make themselves aware of any relevant
audit information and to establish that the auditor is aware of that information.
This report has been prepared in accordance with the small companies, regime under the Companies Ad 2006.
The trustee8' report was approved by the Trustees.
Mr J WW Stevens
Trustee
l£t T414144
Date: ..............
Zoz6

THE LirrLEGATE TRUST
INDEPENDENT AUDITOR'S REPORT
TO THE TRUSTEES OF THE LITTLEGATE TRUST
Oplnion
We have audited the financial statements of Littlegate Trust (the 'charitable company.) ft)r the year ended 30 April
2025, which comprise the Statement of financial activities, the balance sheet, the statement of cash flows and the
related notes, 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, including Financial
Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, (United
Kingdom Generally Accepted Accounting Practice).
In our opinion, the financial statements-
give a true and fair view of the state of the charitable Company's affairs as at 30 April 2025 and of its
incoming resources and application of resources. including its income and expenditure for the year
then ended.
have been property prepared in accordance with United Kingdom Generally Accepted Accounting
Practice- and
have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Audltlng (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 Group In accordance with the ethical
requirements that are relevant to our audit of the financial statements in the United Kingdom. including the Financial
Reporting Council's Ethical Standard and we have fvlfilled our other ethical responsibilities in accordance with these
requirements. We believe that the audit evidence we have obtained is Sufficient and appropriat8 to provide a basis
for our opinion.
Conclusion8 rolating to going concern
In auditing the financial statements, we have concluded that the trustee8' use of the going concem basis of
accounting in thé preparation of the financial statements is appropriate.
Based on the work we have performed, we hava 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 conlinue
as a going concem for a period of at least twelve months from when the financia5 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 inforniation
The Trustees are r8sponsible for the other information. The other information comprises the information included in
the annual report, other than the financial statements and our auditors, report thereon. Our opinion on the financial
statements does not COV8r the other information and, except to the extent otherwis8 explicitly ststed in our report,
W8 do not express any form of assurancè 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 there is a material
misstatement in the financial statements or a material misstatement of the other information. 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.

THE LITTLEGATE TRUST
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF THE LITTLEGATE TRUST
Matters on which we ar8 required to report by exception
In the light of the knowledge and understsnding of the charitable company and its environment obtained In the
course of the audit. we have not identified material misstatements in the Trustees, Report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 require5
us to report to you if, in our opinion..
adequate accounting records have not been kept, or retums adequate for our audit have not been r￿e1Ved
from branches not visited by us; or
the financial statements are not in agreement with the accounting records and retums; or
certain disclosures of trustees, remuneration specified by law are not made,. or
we have not received all the information and explanations we rèquire for our audit; or
the trustees were not entitled to prepare the financial statements in accordance with the small companies
regime and take advantage of the small companies. exemptions in preparing the Trustees, Report and from
ihe requirement to prepare a Strategic Report.
Responslbillties of trustees
As explained more fully in the trustees, Responsibilities Statement, the tNstees (who are also the directors of the
charitable company for the purposes of company law) are responsible for thè prèparation of the finartial statements
and for being satlsfied that they give a true and fair view. and for suth int8mal 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, th8 trustees are responsible for ass888ing the charitable company's ability to
continue as a going concern, disclosing, as applicable, matters related to going concern and using the going
concem basis of accounting unless the trustees either intend to liquidate th8 charitable company or to cease
operations, or have no realistic alternative but to do so.
Auditorfs responsibilltlas for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whethèr the financial statements a5 a whole are free from
material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion.
Reasonable assurance is a high level of assurance but 18 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 congidered material if, individually or in th9 aggregate, they wiuld reasonably be expected to influence
the economic decisions of user8 tsken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in
line with our responsibilities, outlined above, to detect material misststements in re5pe¢t of irregularities, including
fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below..
We obtained an understanding of the charttable company and the sector in which it operates to idertify laws and
regulations that could reasonably be expected to have a direct effect on the financial statements. We obtained our
understanding in this regard through discussions with management, sector research and application of cumulative
audit knowledge and experience.
We detemiined the principal laws and regulations relevant to the charitable company in this regard to be those
arising from the Companies Act 2006. CharitiesAct 2011, and the Charities SORP.
The risks were discussed with the audit team and we remained alert to any indications of norFcompliance
throughout the audit. We carried out specific procedures to address the risks identified. These included reviewing
minutes of Trustee Board meetings- agreeing the financial statement disclosures to underlying supporting
documentation., and enquiring of management including those charged with governance.
To address the risk of management override of controls. we carried out testing of journal entrbes and other
adjustments for appropriateness. We also assessed management bias in relation to the accounting policies adopted
and in determining significant awounting estimates.

THE LITTLEGATE TRUST
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF THE LIThLEGATE TRUST
BeG9use of th8 inherent limitations of an audit. there is a risk that y￿ will not detect all irregularities, induding those
18ading to a material misststem8nt in the financial statements or non-compliance with regulation. This risk
increases the more that compliance with a law or regulation is removed from the events and transactions reflected
in the financial statem8nts, as we will bé less likely to become aware of instances of norFcompliance. The risk is
also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional
)n￿alment, forgery, collusion, omission or misrepresentstion.
A fvrther description of our responsibilities for the audit of the financial statements 18 located on the Financial
Reporting Council's website at.. www.frc.org.uklauditors r88ponsibilitl88. This description forms part of our audrtor's
report.
U80 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 charitalje company's
members those mattgrs we ar8 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 Companys members, as a body, for our audit work, for this report, or for the opinions
We have formed.
Michael Cooper￿aVi8 FCCA ACA
(Senior Stsiutory Audltor)
For and on behalf of
Prlco Bailey LLP
Chartered Accountants
statutory Auditors
24 Old Bond Street
London
W1S4AP
26 January 2026

THE LITTLEGATE TRUST
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 30 APRIL 2025
Unrestrictod Unrestricted
funds
funds
2025
2024
Notes
Income from:
Donations and legacies
Charitable activities
Investments
76,781
166,205
18,225
2,786,735
109,061
34,629
Total Income
261,211
2,930,425
Expendlture on:
Charitable activitie8
778,162
280,310
Total expondlture
778,162
280,310
Net gainsloosses) on investments
Revaluation of tangible fixed assets
14
23,148
375,216
12,157
(50,015)
Net incomel(expenditure) and movement in funds
{118,587)
2,612,257
Fund balance8 at 1 May 2024
6,103,714
3,491,457
Fund balances at 30 Aprll 2026
5,985,127
6,103,714
The statement of financial activities Includes all gains and losses recognisad In the year. All Income and expendlture
derive from conts'nuing aGtivities.

THE LITTLEGATE TRUST
BALANCE SHEET
AS AT 30 APRIL 2025
2025
2024
Fixed assets
Tangible assets
Social investments
Investrnent property
12
15
13
6.519,970
1,143,043
360,000
5,487.211
1,119,895
735,000
8,023,013
7,342,106
Current a$s8ts
Stocks
Debtors
Cash at bank and in hand
16
17
375,000
12,308
184,560
48,556
536,015
571,868
584,571
Cr8ditors: amounts falllng due wlthln
one year
18
(354,595)
(308,287)
Not current assets
217,273
276,284
Total a8sets less currgnt Ilabilltlos
8,240,286
7,618,390
Creditors: amounts falllng due after
more than one year
19
(2,255,159)
(1,514,676)
Nat assets
5,985,127
6,103,714
The funds of th8 charlty
Unrestricted funds
22
5,985,127
6,103,714
5,985,127
6,103,714
The company is entitled to the exemption from the audit requirement contained In section 477 of the Companies Act
2006, for the year ended 30 April 2025.
The directors acknowledge their responsibilities for complying with the requir8ments of the Companies Act 2006
with resp8Ct to accounting records and the preparation of financial statements.
The members hav8 not required the company to obtain an audit of its financial statements under the requirements
of the Companie5 Act 2006, for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject
to the small companies regime.
ZoZ6
The financial ststeménts were approved by the trustees on ...
Mr J WW Stevens
Trusteè
Company registration number 10102445 (England and Wales)

THE LirrLEGATE TRUST
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 APRIL 2025
2025
2024
Notes
Cash flows from operatlng activltles
Cash (absorbed by)Igenerated from
operations
23
(753,497)
504.572
Investing activities
Purchase of tangible fixed assets
Transf6r of investment propety to inventory
Purchase of othèr investments
Proceeds from disposal of other investm8nts
Investment income received
(771,251)
375,000
{375,000)
700,000
34,629
18,225
Nèt cash (used in)Iganorated from inv8sting
activitles
(378.026)
359,829
Flnanclng activitle8
Repayment of borrowings
Interest pald
Repayment of mortgages
451,075
(416,383}
(48,288)
328,993
Nat cash gon8rated froml{usgd In) flnancing
actlvitie8
780,068
(464,671)
Net {decrna8eVlncreasè in cash and cash
equivalents
(351,455)
399,530
Cash and cash equlvalents at beginnlng of year
536,015
136,485
Cash and cash equivalents at end of year
184,560
536,015
10-

THE LITTLEGATE TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
Accounting policles
Charity Information
The Littlegate Trust is a private company limited by guarantee incorporated in England and Wales. In the
event of the charity being ound up. the liability in respect of the guarantee is limited to £1 per member of the
charity. The règistered office is The Pennyfarthing. Pennyfarthing Place, Oxford, Oxfordshire, OX1 1QF.
England. The nature of the ¢harity's operations and principal activities ar8 the provision of premises for Ghurch
and Christian activities.
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity's governing document, the
Companies Act 2006 and th8 Charities Act 2011. FRS 102 "The Financial Reporting Standard applicable in
the UK and Republic of Ireland" and the Charilies SORP 'A¢counting and Reporting by Charities: Stat￿ent
of Recomm8nded Practice applicable to chartties preparing their accounts in accordance with thè Financial
Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) The charity is a Public Benefit
Entity as defined by FRS 102.
The financial statements are prepared in sterling, which Is the functional currency of the charity. Monetary
amounts in these financial ststements are rounded to the nearest £.
The financial statements have been prepared under the hlstorical cost convention. The princlpal accounting
policies adopted are set out below.
1.2 Going concorn
At the time of approving the financial statements, the tnjstees has a reasonable expectation that the charity
has adequate resources to continue in operational existence for the foreseeable future. Thus the trLtstees
continue to adopt the going concem basis of accounting in preparing the financial 5tstements.
1.3 Funding accountlng
Unrestricted fund8 are available for use at the discretlon of the trustees in furtherance of their charitable
objectives,
Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular
purposes. The alm and use of each designated fund is set out in the notes to the financial statements.
Restricted fund5 are subject to 5pe¢ific conditions by donors or grantors as to how they may be used. The
purposes and uses of th8 restricted funds are set out in the notes to the financial statements.
Investment income, gains and losses are allocated to the appropriate fund.
1.4 Income
All income is recognised once the charity has entitlement to the income, it is probable that the i n¢ome will be
re￿IVed and the amount of income receivable can be measured reliably.
The recognition of income from legacies is dependent on establishing entitlement, the probabilty of receipt
and the ability to estimate with sufficient accuracy the amount receivable. Evidence of entitlement to a legacy
exists when the charity has sufficient evidence that a gift has been left to them (through knowledge of the
existence of a valid will and the death of the benefactor) and the executor is satisfied that the property in
question will not be required ta satisfy claims in the estate. Receipt of a legacy must be recognised when il is
probable that it will be received and the fair value of the amount receivable, which will generally be the
expected cash amount to be distributed to the charity. can be reliably measured.
11

THE LITTLEGATE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
Accounting policies
Icontinued)
Grants are included in the Statement of Financial AGtivty on a receivable basis. The balance of the income
received for specific purposes but not expended during the period is shown in the relevant funds on the
Balance Sheet. Where income is received in advance of ents'tlement of receipt, its recognition is deferred and
included in creditors as deferred income. Where entitlement occurs before in¢om8 is received, the income is
accrued.
Income tax recoverable in relation to investrnent income is recognised at the tim8 the investment income is
receivable.
Investment income is eamed through holding assets for inv8Stment purposes such as property- It includes
rèntal income and is recognised on an accruals basis.
1.5 Expènditura
Expenditure is recognised once there is a legal or Constructive obligation to transfer economic benefit to a
third party, it Is probable that a transfer of economic benefits will be required in settlement, and the amount of
ihe obligation can be measured reliably.
Expenditure is classified by activity. The costs of each activity are made up of the total of dIr￿t costs and
shared cos15, including support costs involved in undertaking each aGtivity. Direct Gosts attributable to a single
activity are allocated diredly to that adivity. Shared costs which contribute to more than one activity and
support costs which are not attributable to a single activity are apportioned be￿een those activities on a basis
Consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and
depreciation charges are allocated on the portion of the asset's use.
1.6 Tanglble flxod assets
Individual fr88hold and leasehold properties are carrled at current year value or at fair value at the date of
revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Revaluations are undertaken with sufficient regutarity to ensure the carying amount does not differ materially
from that which would be detemiined using fair value at the balance sheet dats.
Valuations are detemlned annually by the tTUStees based on professional advice received. Fair va￿e are
derived from the current market rents and investment property yields for comparable real estate, adjusted if
necessary for any difference in the nature. location or ccindition of the specific asset and the CuT￿nt lease
status. Revaluation gains and losses are recognised in other comprehensive income unless losse5 eX￿d
the previously reGognised gains or reflect a clear consumption of economic benefits, In which case Ihe excess
losses are recogni5ed in profit or Ios8.
Depreciation is recognised so as to write off the cost or valuation of as8ets18ss their residual values over their
Useful lives on the following bases=
Freehold land and building8
Leasehold land and buildings
Land
other assets
50 years straight line
over the life of the lease
not depreciated
over their estimated useful life
The gain or loss arising on the disposal of an asset is determined as the difference be￿een the sale proceeds
and the carying value of the asset. and is recognised in the statement of financial activities.
1.7 Investment property
Investment property, including social inveskn8nt property. is carried at fair value determined annually by the
trustees based on professional advice received. Fair values are derived from the current market rents and
investment property yields for comparable real estate. adjusted if necessary for any difference in Ihe nature,
location or condition of the specific asset and the current lease status. No depreciation is provided. Changes
in fair value are recognised in the Statement of Financial Activities.
12-

THE LirrLEGATE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
Accounting pollcies
(Continued)
1.8 Impaimient of fixed assets
At each reporting end date, the charity reviews the carying amounts of its tsngible assets to determine
whether there is any indication that thos8 assets hav8 suffered an impairment loss. If any such indication
exists. the recoverable amount of the asset is estirnated in order to determine the extent of the impairment
loss (if any).
1.9 Stocks
Stocks are stated at the lower of cost and estimated selling pric8 less costs to complet8 and sell. Cost
comprises direct materials and, where applicable, direct labour costs and those overheads that have been
incurred in bringing the stocks to their present location and condition. Items held for distribution at no or
nominal consideration are measured the lower of repla￿ment cost and cost.
Net realisable value is the astimated selllng price less all estimated costs of completion and costs to be
incurred in marketing, selling and distribution.
1.10 Cash and cash gqulvalents
Cash and cash equivalents include cash in hand. deposits held at call with banks. other short-term liquid
investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown
within borrowings in current liabilities.
1.11 Financial instruments
The charity has elected to apply the provisions of Sedion 11 'Basic Financial Instruments, and Section 12
'Other Financial Instruments Issues, of FRS 102 to all of its financial instruments.
Flnancial instruments are recognised in the charity's balance sheet when the charity becomes paty to the
contractual provisions of th8 instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when
there is a legally enforceable right to $8t off the recognised amounts and there is an intention to settle on a net
basis or to realise the asset and Settle the liabilty simultaneously.
Ba81c financlal asset8
Basic financial assets, which include debtors and eAsh and bank balances, are initialty measured at
transaction price including transaction costs and are subsequently carried at amortised cost using the effective
interest method unless the arrangement constitLrtes a financing transaction, where the transaction is
measured at the present value of the fvture receipts discounted at a market rate of interest. Financial assets
classified as receivable within one year are not amortiS8d.
Ba8lc financial liabilitles
Basic financial liabilities, including Creditors and bank loans are initially recognised at transaction price unless
the arrangement constitutes a financing transaction, where the debt instrument is measured at the present
value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable
within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of
operations from supplier5. Amounts payable are dassified as current liabilities if payment is due within one
year or less. If not. they are presented as non-current liabilitie5. Trade creditors are recognised initially at
transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financlal liabilities
Financial liabilities are derecognised when the tharity's contractual obligations expire or are discharged or
cancelled.
13-

THE LITTLEGATE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
Accounting polici&s
(continued)
1.12 Taxation
The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered
to pass the tests set out in Paragraph 1 Schedule 6 Finan￿ Act 2010 and therefore it meets the definition of a
charitable company for UK corporation tax PUTposes.
1.13 Employee benefits
The Cost of any unused holiday entitlement is recognised in the period in which the employee's services are
received.
T8rmination benefits are re¢ognised immediately as an expense when the charity is demonstrably committed
to temiinate the employment of an employee or to provide termination benefits.
1.14 Retlrement b6neflts
Payments to defined contribution retirement benefft schemes are charged as an expense as they fall due.
Crltlcal accountlng estimates and Judgoments
Estimates and judgements are continually evaluated and are based on historical experien¢8 and othpA factors,
including expectation of future events that are believed to be reasonable under the circumstances.
Critical accounting astimatss and assumptlon8:
The charity makes estimates and as5umpts.ons conceming the future. The resulting accountin9 estimates and
assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that
have a significant risk of causing a material adjustment to the carrying amounts of assets and liablities within
the next financial year are discussed below.
crftlcal arnas of Judgemont:
Estimates and judgements are continually evaluated and ere based on historical experience and other
fa¢tors.induding expectations of future events that are believed to be reasonable under the Circumstan￿$.
The key estimates and judgements are the fair value of th8 properti95 and associated loans.
Incomo from donatlons and legacles
Unrestricted
funds
2025
UTbre8trlctod
funds
2024
Donations
Value of assets acquired from The Davis Trust
Value of assets acquired from Tabernacle Trust
76,781
156,782
1,510,058
1,119,895
76,781
2,786,735
14-

THE LirrLEGATE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
Income from charitabl8 activities
Unrestrlcted
funds
2025
Unrestricted
funds
2024
Rental income from properties rented und8r charitable activities
166,205
109,061
Income from inve8tments
Unre8trlcted Unrestrfcted
funds
funds
2025
2024
Rental income from properties held for investment purposes
18,225
34,629
Expèndlture on Gharltable actlviti88
2025
2024
Direct ¢08ts
staff costs
Depréciation and impairnient
Mortgage interest
Rent and rates
Legal costs
Bank tharges
Insurance
other costs
Charitable gifts
15,884
113,708
72,087
16,260
9,616
295
7,416
36,938
475,033
14,543
77,722
48,288
19,714
45,283
3,377
2,272
44,994
747,217
256,193
Share of support and governance costs (see note 7)
Govemanc8
30,945
24,117
778,162
280,310
Analysis by fund
Unrestticted funds
778.162
280,310
15-

THE LirrLEGATE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
Support costs allocated to activities
2025
2024
Governance costs
30,945
24.117
Analysed between:
Audit and accountancy fees
30,945
24,117
2025
2024
Govornanco costs comprise:
Audit fees
Accountancy
15.360
15,585
20,160
3,957
30,945
24,117
Net movement In funds
2025
2024
The net movement in fund5 IS stated after chargingl(cr8diting):
Fees payable to the Charity's auditor..
- for the audit of the charity's financial statements
for other financial $8rvices
D8preciation of owned tangible r￿ed assets
15,360
2,700
113,708
20,160
3,957
77,722
Auditor's remuneratlon
Fees payable to the charity's auditor and associates:
2025
2024
For audit servlces
Audit of th8 financia5 statements of the charty
15,360
20,160
For other services
All other non-audit seNi¢es
10,305
3,957
10 Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the
charity during the year.
16-

THE LITTLEGATE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
11 Employeos
The average monthly number of employees during the year was:
2025
Number
2024
Number
Employment costs
2025
2024
Wages and salarl8S
Other pension costs
15,405
459
14,064
479
15.864
14,543
There were no employees whose annual remuneratlon wa8 more than £60,000.
Remuneration of kay management personnel
Key management personnel are those having authority and responsibility for planTTring, directing and
controlling the activities of thé Charty. They consist of the Op8rations Director and the Trustees. The
aggregate cost of Key Management Remuneration for the year was £15.864 (2024 - £14,543). No Trustee
received or waived any remuneration during the year.
The Trustees and Operations Director did not have any expenses reimbursed during the year (2024 - £NII).
17-

THE LITTLEGATE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2026
12 Tangible fixed assets
Freehold land
and buildings
Leasehold
land and
bulldlngs
Total
Cost
At 1 May 2024
Additions
Revaluation
4,660,000
469,299
360,000
940,000 5.600,000
301,952
771,251
360,000
At 30 April 2025
5,489,299 1,241,952 6,731,251
Dapreciation and impaimiènt
At 1 May 2024
Depreciation charg8d in the year
Revaluation
89,164
105,136
(15,2161
23,625
8,572
112,789
113,708
{15,216)
At 30 April 2025
179,084
32,197
211,281
Carrying amount
At 30 April 2025
5,310,215 1,209,755 6,519,970
At 30 April 2024
4.570,836
916.375 5,487,211
13 Inve8bnent property
202S
Falr value
At 1 May 2024
Transfers to inventorfes
735,000
(375,000)
At 30 April 2025
360,000
Investments are valued by trustees based on professional advi￿ received.
14 Gains and losses on Investments
Unrestricted Unrnstrfcted
funds
funds
2025
2024
Gainsl(losses) arising on:
Revaluation of investment properties
23,148
12,157
18-

THE LirrLEGATE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
16 Soclal Investments
At 1 May 2024
Revaluation
1.119,895
23.148
At 30 April 2025
1,143,043
Investments are valued by truste88 based on professional advice received.
16 Stocks
2025
2024
Investment properties held for Sale
375,000
17 Debtor8
2025
2024
Amount8 falling duo wlthin one year:
other debtors
Prepayments and accrued income
1,168
11,140
41,032
7,524
12,308
48,556
18 Credltors: amounts falllng duo wlthln one year
2025
2024
Nots8
Bank loans
other borrowings
other creditors
Accruals and deferred income
20
21,499
305,000
76
28.020
16,914
270,000
1.262
20,111
354.595
308,287
19 Credltorg: amounts falllng duo after more than one year
2025
2024
Notes
Bank loans
Other borrowings
20
1,259,309
995,850
934.901
579.775
2,255,159
1,514,676
19-

THE LITTLEGATE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
19 Creditors: amounts falling due after more than one year
(Continued)
Bank loans (mortgages):
During 2020-21 the Gharity took out a mortgage, secured on 6 Wlkins Road of £270,000. The mortgage bore
intsrest at 2.9% above CAF banks BBR rate.
During 2022-23, a further mortgage of £500.000 was tak8n out with Kingdom Bank on more favourable temis
for the purchase of 2 Roger Bacon Lane (the fonner St Ebbe's Rectory) from The Diocese of Oxft)rd (Church
of England).
During 2023-24. a mortgage of £206,000 was acquired from The Davis Trust, held against 80 Westbury
Crescent.
During 2024-25, further mortgages totalling £350,000 were taken out with Kingdom Bank, held against 42
Kestrel CreS￿nt.
20 Othor loans
2025
2024
Financial instruments - (tranche 1)
Loans (tranche 21
Loans (tranche 3)
Loans (tranche 4)
Loans (tranche 5)
559,776
220,000
20,000
201,074
300,000
559.776
270,000
20,000
1,300,850
849,778
Tran¢he 1.. In 2018-19 a numb8r of loans were used to purchase 32 Dale Close in the year and are intèrest
free. Th8 amounts due to the lenders arè directly linked to the market value of 32 Dale Close, and are
revalued each year to reflect the increase or decrease in market value of the property and the loan. Events
triggering repayment are the sale of the property or 12 months written notice from the lender to the Charity. A
breakdown of the individual loan repayment date are as follows.. £531,552 (2024.. £531,552) will be repaid by
the 31 December 2027 and £28,224 (2024- £28,224) will be repaid by the 30 April 2029. One further interest
free loan of £50,000 was made which was repaid in the 202>24 y8ar.
Tranche 2.. During 2018-19 three further loans were used to purchase a property in Temple Cowley. The
concessionary loans are interest free. The first loan was due for repayment by 31 May 2023 and was repaid
fully during the 2023-24 year. The second loan, totalling £200,000, was due for repayment in equal
instalments of £40,000 on 1 April 2023, 1 April 2024, 1 April 2025, 1 April 2026 and 1 April 2027. During
2020-21, 2021-22 and 2022-23, the lender reduced the loan by a total of £150,000 with £50,000 being gifted
to the charity in each year. The remaining loan of £50,000 was forgiven on 30 June 2024.The third loan of
£220,000 can become due at any time with 6 months written notice from the lender, therefore, 15 induded in
creditors due within one year. No amounts were repaid during the year.
-20-

THE LITTLEGATE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
20 Other loan8
{Continued)
Tranche 3: During 2020-21 several prfvate loans were used to purchase the propety at 6 Wlkins Road.
£78,599 was repaid against these loans in 202>24. repaying the portion of the loans that were linked to the
market value of the propety and the portion of the loan that was interest bearing. The remaining baance of
£20.000 has been loaned interest free. This loan is r8payabl8 upon sale of the propety. or 10 years from first
drawdown (bel￿een 16 November 2030 and 15 February 2031), or earlier at the option of the Trust.
Tranche 4: During this year. several private loans were used to purchase the propety at 42 Kestrel Crescent,
The first of these was an interest free loan of £45,000 for the period of 1 year. This was repaid in full on 11th
May 2025 (and refinanced by a new interest free loan of £45.000, the repayment value of which is Ilnked
dlredy to the market value of 42 Kestrel Crescent). There were two loans (£50,000 and £5,000) wilh 2010
Interest which are due for repayment on 1st May 2029 and 27th August 2029 respedively. An interest free
loan of £15,000 was provided in June 2024, due for repayment In June 2034 (and expected to be renewed for
a further 10 years) wtth a repayment value linked directly to the market value of 42 Kestrel Crescent. A further
interest free loan of £40,000 was provided in January 2025 with a repayment date of January 2027. This loan
is being held in an interest-bearing account with thè interest being used to offset the cost of the mortgages
used for the purchase of the propety.
Tranche 5.. During the year b4VO private loans of £150,000 each were provided for the purchase of 22 Frlar8
Wharf. These are interest free loans with repayment values linked directly to the value of 22 Friars Wharf.
They are due for repayment March 2035 and are expected to be extended for a further 10 y8ar8 at thls polnt.
21 Retlrnment bonefit 8chomo4
2025
2024
Defined contrlbutlon schemes
Charge to profit or loss in respect of defined contribution schemes
459
479
The charity operates a defined contribLrtion pension %heme for all qualifying employees. The assets of the
scheme are held separately from those of the charity in an independently administered fund.
22 Unfe8tri¢ted funds
The unrestricted funds of the charity Comprise the unexpended balances of donations and grants which are
not subject to specffjc conditions by donors and grantors as to how they may be used. These indude
designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
Gains and
At 30 April
losses
2025
At 1 May 2024
Incomlng
rosources
Resources
expended
Trnnsfers
Designated
funds- fixed
assèts
General funds
5,590,516
513.198
(122,525)
122,525
398,364
5,866,355
118,772
261,211
(778.162)
6,103.714
261,211
(778.162)
398.364
5,985.127
21-

THE LITTLEGATE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
{Continuod}
22 Unrestricted funds
Previous year: At 1 May 2023
Incomlng
resources
Resources
expended
Transfers
Gains and
losses
At 30 April
2024
Designated
funds - fixed
assets
Gen8ral funds
5.590,516
513,198
3,345,332
146,125
2,283,042
(280,310) {2,283,042)
(37,858)
2.930,425
3,491,457
2,930,425
(280,310)
(37,858)
6,103,714
23 Cash (absorbed by)Ig8nerated from opgratlons
2025
2024
(Defiat)Isurplus for the year
(118,587)
2,662,272
Adjustments for:
Investment income recognised in statement of financial activib'8S
Interest charges
Fair value gains and losses on investment properties
Fair value gains and losses on tangible fix8d assets
NOTr￿sh donations
Depreciation and impairment of tangible fixed assets
(18,225)
(34,629)
48,288
(12,157)
(23,148)
(375,216)
(2,219.381)
77,722
113,708
Movements in working capltal:
(Increase) in stocks
Decreasel(increase) in debtors
Increase in creditors
(375,000)
36,248
6,723
(27,026)
9,483
Cash {absorb8d byygeneratsd from operatlon8
(753,497)
504,572
24 Analysls of changes In net (debt)Ifundg
At l May 2024
Cash flo￿ At 30 Aprll 2023
Cash at bank and in hand
536,015
{351,455)
184,￿0
(39,585)
(326,499)
1740,483) (2,255,159)
Loans falling due within one year
Loan5 falling due after more than one year
{286,914)
(1,514,676)
(1.265.575) (1,131,523) (2,397,098)
26 Membèrs. Liability
Each member of the charitable company undertakes to contribute to the assets of the company in the event of
it being wound up while they are a member. or within one year after they cease to be a member, such amount
as may be required. not exceeding £NIL for the debts and liabilities contracted before they cease to be a
member.

THE LirrLEGATE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
26 Related party transactions
Infomiation about related party transactions and outstanding balances Is outlined below..
A trustee of The Littlegate Trust, is also a director of Pillar investments11 Pty Limited. Pillar inv8Stments 11 Pty
Limited made donations of £nil {2024 - £70.000) during the period.
During the year, trustees & one member of managem8nt made donations of £75,000 {2024 - £21,229),
£60,000 of which was in the ftjrm of equity loans {2024- £Nil).
-23-