St. John’s Housing Trust Report of the Trustees and Financial Statements
Charity Registration No. 1172228
Annual Report and Accounts 31 December 2024
St. John’s Housing Trust Report and Financial Statements 2024 Contents
| Page | |
|---|---|
| Legal and administrative information | 2 |
| Report of the Trustees | 4 |
| Independent Examiner's report to the Trustees | 6 |
| Statement of financial activities | 7 |
| Balance sheet | 8 |
| Notes to the financial statements | 9 |
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St. John’s Housing Trust Legal and Administrative Information
| Charity Name | St. John’s Housing Trust |
|---|---|
| Charity Registration no. | 1172228 |
| Registration Date | 23 March 2017 |
| Registered Address | St. John at Hackney Church |
| Lower Clapton Road | |
| London, E5 0PD | |
| Correspondence | Hackney Church House |
| Address | 1 Spiller House |
| Prodigal Square | |
| London, E8 1FX | |
| Governing Document | CIO-Foundation |
| Objectives | St. John’s Housing Trust has been set up to assist those in need of accommodation, |
| accommodation maintenance, or financial assistance in the London Borough of Hackney | |
| along with the advancement of Christian religion for the public benefit by the provision | |
| and maintenance of accommodation for Church of England Clergy, Staff, Interns and | |
| Volunteers. | |
| Trustees | Trustees who have served from 1stJanuary 2024 until the date this |
| report was approved are: | |
| Rev’d Al Gordon | |
| Sam Lawson Johnston | |
| John Parmiter | |
| Josh Olomolaiye (until May 2025) | |
| Bankers | CAF Bank |
| Independent Examiner | John Helm ACA |
| Tandem Accounting Limited | |
| 17 Heathville Road | |
| London N19 3AL |
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ST. JOHN’S HOUSING TRUST
Report of the Trustees For the year ended 31 December 2024
St. John’s Housing Trust (“the Trust”) submits its report and the financial statements for the year ended 31 December 2024. The financial statements have been prepared in the format prescribed by the Statement of Recommended Practice: Accounting and Reporting by Charities (SORP2019 (FRS102)) and the Financial Reporting Standard 102. The legal and administrative information set out earlier in this document forms part of this report.
1. Structure, Governance and Management
St John at Hackney (Charity Number 1158545) has the power to appoint all of the trustees of the Trust. Throughout 2024, the appointed Trustees were Reverend Al Gordon, Mr Sam Lawson Johnston, Mr. Josh Olomolaiye and Mr John Parmiter.
In 2024 the trustees did not meet formally and there were no minuted meetings. However, the trustees do keep in touch informally to discuss a full range of matters relating to finance, fabric, general administration and the objectives of the charity.
2. Activities and Strategies
The Trustees have reviewed the activities and strategies of SJHT. The Trustees believe that the current activities of renting the held properties to people involved in the local promotion of Christian faith is in line with the objectives of the charity.
3. Achievements and Performance
The Trust continues to rent out the two leasehold properties that were gifted in June 2020, in Blackburn House, Hackney Gardens. The two properties form the asset foundation for the objectives of the Charity. Both apartments are rented out to the staff of Hackney Parish.
4. Financial Review
4.1 Financial Activity and Financial Position
The charity’s main source of income are from the rents of the leasehold properties.
The Statement of Financial Activities and Balance Sheet can be found on pages 6 and 7 respectively. The charity’s reserves decreased by £5,747 during the year (2023: decreased by £5,890). The balance sheet shows total net assets of £423,736 (2023: £429,483).
4.2 Reserves Policy
The Trustees have examined the requirements for free reserves, i.e. those unrestricted funds not invested in tangible fixed assets. The Trustees considers that, given the nature of the charity’s objectives, free reserves should be equivalent to approximately 6 months’ routine general fund expenditure, plus committed and forecast future expenditure on other projects, where funds permit. In addition, the Trustees intend to hold sufficient reserves to cover any potential future assessments on the Leasehold building. At 31 December 2024 the charity had net free reserves of £14,986 (2023: £11,733) as follows:
| Total reserves Less: tangible fixed assets held for the long term Free reserves Free reserves requirement: 6 month’s budgeted routine expenditure |
2024 | 2023 £ 429,483 (417,750) |
|---|---|---|
| £ | ||
| 423,736 | ||
| (408,750) | ||
| 11,733 | ||
| 14,986 | ||
| 3,250 | ||
| 3,250 | ||
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ST. JOHN’S HOUSING TRUST
Report of the Trustees For the year ended 31 December 2024
4.3 Grants Policy
The task of deciding how to distribute grants is done by the Trustees. Grants are awarded to organisations, church members and community members based on an evaluation of each case. All grants follow SJHT’s charitable objectives.
4.4 Risk assessment and mitigation
The risks which the organisation faces have been considered and measures will be implemented to ensure that appropriate systems, policies and procedures are in place to manage and mitigate the risks. These risks, including health and safety are being mitigated through modern management systems and practices. As a matter of general policy, independent professional advice is taken where appropriate.
5. Plans for Future Periods
The short and medium term plan is to continue with the same objectives and activities in support of them.
6. Responsibilities of Trustees for the Financial Statements
The trustees are responsible for preparing the report and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice. Charity law in England and Wales 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 charity and of the incoming resources and application of resources of the charity for that period.
In preparing those financial statements, the trustee is required to:
-
select suitable accounting policies and apply them consistently;
-
observe the methods and principles of the Charities SORP
-
make judgements and estimates that are reasonable and prudent;
-
state whether applicable accounting standards have been followed, subject to any departures disclosed and explained in the financial statements; and
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the activities of the charity will continue.
The Trustees are responsible for keeping adequate accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enables them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the governing document. The Trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
7. Approval
The report of the Trustees was approved by the Trustees on 27 October 2025 and signed on its behalf by:
Rev’d Al Gordon Trustee
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ST. JOHN’S HOUSING TRUST
Report of the Independent Examiner to the Trustees of St John’s Housing Trust For the year ended 31 December 2024
I report on the financial statements of St John’s Housing Trust for the year ended 31 December 2024, set out on pages 7 to 11.
This report is made solely to the Trustees in accordance with section 145 of the Charities Act 2011 (the Act). My independent examination has been undertaken so that I might state to the Trustees those matters I am required to state to them in an independent examiner’s report and for no other purpose. To the fullest extent permitted by the law, I do not accept responsibility to anyone other than the Trust and the Trustees for my independent examination, for this report, or the opinions I have formed.
RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER
The Trustees consider that an audit is not required for this period (under section 144(2) of the Charities Act 2011) and that an independent examination is needed.
It is my responsibility to:
-
Examine the accounts (under section 145 of the Act);
-
To follow the procedures laid down in the General Direction given by the Charity Commission (under section 145(5)(b) of the Act); and
-
To state whether particular matters have come to my attention.
BASIS OF INDEPENDENT EXAMINER’S STATEMENT
My examination was carried out in accordance with General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the accounts.
INDEPENDENT EXAMINER’S STATEMENT
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
-
the accounts do not accord with those records; or
-
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.
John Helm ACA 28 October 2025
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ST. JOHN’S HOUSING TRUST
Statement of Financial Activities For the year ended 31 December 2024
| Note Income from: 2 Donations and legacies Other trading activities Investments Total Income Expenditure on: Charitable activities 3 Total Expenditure Net gains/(losses) on investments Net (Expenditure) / Income Transfers between funds Other recognised gains/(losses) Net movement in funds Total funds brought forward Total funds carried forward |
2024 | 2023 £ - 34,800 57 |
) ) |
|
|---|---|---|---|---|
| £ | ||||
| - | ||||
| 34,800 | ||||
| 53 | ||||
| 34,857 | ||||
| 34,853 | ||||
| 40,747 | ||||
| 40,600 | ||||
| 40,747 | ||||
| 40,600 | ||||
| - | ||||
| - | ||||
| (5,890 | ||||
| (5,747) | ||||
| - - |
||||
| - | ||||
| - | ||||
| (5,890 435,373 |
||||
| (5,747) | ||||
| 429,483 | ||||
| 429,483 | ||||
| 423,736 | ||||
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ST. JOHN’S HOUSING TRUST
Balance Sheet As at 31 December 2024
| 2024 | 2023 | ||
|---|---|---|---|
| Note | £ | £ | |
| Fixed Assets | |||
| Tangible Assets | 4 | 408,750 | 417,750 |
| 408,750 | 417,750 | ||
| Current Assets | |||
| Cash at Bank and in hand | 39,913 | 15,953 | |
| 39,913 | 15,953 | ||
| Creditors - Amounts Falling Due | |||
| Within One Year | 5 | 24,927 | 4,220 |
| Net Current Assets | 14,986 | 11,733 | |
| Net Assets | 423,736 | 429,483 | |
| Represented by: | |||
| Unrestricted Income Funds | 423,736 | 429,483 | |
| Total Funds | 423,736 | 429,483 |
The financial statements were approved by the trustees on 27 October 2025 and signed on its behalf by:
- Rev’d Al Gordon Trustee
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ST. JOHN’S HOUSING TRUST
Notes to the Financial Statements For the year ended 31 December 2024
1. Accounting Policies
The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:
Basis of accounting
The financial statements have been prepared under the Charities Act 2011 and in accordance with the Charities Statement of Recommended Practice (Charities SORP (FRS 102)) and Financial Reporting Standard 102 (FRS 102). The financial statements are drawn up on the historical cost basis of accounting except for the revaluation of freehold land and buildings which are shown at market value.
The financial statements include all transactions, assets and liabilities for which the trustees are responsible in law.
Going Concern
There are no material uncertainties about the charity’s ability to continue as a going concern and accordingly the accounts have been drawn up on a going concern basis.
Income recognition
Trading income and voluntary income and donations are accounted for once the charity has entitlement to the income, it is probable the income will be received, and the amount of income receivable can be reliably measured. Income from the recovery of tax on gift aided donations is accounted for in the period to which the relevant donation is received. Grant income is recognised on a receivable basis.
The income from trading activities includes rental income from the letting of leasehold properties which is accounted for when earned. It is shown gross, with the associated costs included in the expenditures.
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.
Expenditure recognition
Expenditure is accrued as soon as a liability is considered probable, and the amount of obligation can be measured reliably. Longer term liabilities are discounted to present value. The charity is not registered for VAT and accordingly expenditure includes VAT where appropriate.
Charitable expenditure includes those costs in fulfilling the charity’s principal objects, as outlined in the Annual Report. These include grants payable, governance costs and support costs.
-
Grants payable are payments made to other organisations or people in furtherance of the charity’s objects. In the case of an unconditional grant offer this is accrued once the recipient has been notified of the grant award. The notification gives the recipient a reasonable expectation that they will receive the grant. Grants awards that are subject to the recipient fulfilling performance conditions are only accrued when the recipient has been notified of the grant and any remaining unfulfilled condition attaching to that grant is outside of the control of the trustees.
-
Governance costs comprise all costs involving the public accountability of the charity and its compliance with regulation and good practice. These costs include costs related to the independent examination and legal fees.
Tangible Fixed Assets
The leasehold land and buildings are depreciated on a straight line basis over the effective useful life of the asset, which has been estimated as 50 years.
Debtors
Debtors are included at the settlement amount due. Prepayments are valued at the amount prepaid.
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 opening of the deposit.
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ST. JOHN’S HOUSING TRUST
Notes to the Financial Statements For the year ended 31 December 2024
1. Accounting Policies (continued)
Creditors and provisions
Creditors and provisions are recognised where the charity has a present obligation arising 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 and provisions are recognised at their settlement amount.
2. Income
| Charitable Activities Letting income Investments Bank Interest |
Unrestricted Funds 2024 £ Restricted Funds 2024 £ 34,800 - 53 - 34,853 0 |
Total 2023 £ 34,800 57 |
||||
|---|---|---|---|---|---|---|
| Total | ||||||
| 2024 | ||||||
| £ | ||||||
| 34,800 | ||||||
| 53 | ||||||
| 34,857 | ||||||
| 34,853 | ||||||
3. Expenditure on Charitable Activities
| Unrestricted Funds 2024 £ Restricted Funds 2024 £ Repairs and maintenance 4,944 - Depreciation 9,000 - Grants made (Ecclesiastical Parish of St John at Hackney) 25,200 - Office Costs 220 - Bank fees 60 - Governance – independent examination 1,176 - 40,600 0 |
Total 2023 £ 5,611 9,000 25,200 202 74 660 |
|||
|---|---|---|---|---|
| Total | ||||
| 2024 | ||||
| £ | ||||
| 4,944 | ||||
| 9,000 | ||||
| 25,200 | ||||
| 220 | ||||
| 60 | ||||
| 1,176 | ||||
| 40,747 | ||||
| 40,600 | ||||
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ST. JOHN’S HOUSING TRUST
Notes to the Financial Statements For the year ended 31 December 2024
4. Tangible Fixed Assets
| Leasehold | |
|---|---|
| land & | |
| buildings | |
| £ | |
| Cost/valuation | |
| At 1 January 2024 | 450,000 |
| Additions | - |
| Disposals | - |
| At 31 December 2024 | 450,000 |
| Depreciation | |
| At 1 January 2024 | 32,250 |
| Charge for Period | 9,000 |
| Disposals | - |
| At 31 December 2024 | 41,250 |
| Net Book Value | |
| At 31 December 2024 | 408,750 |
| At 31 December 2023 | 417,750 |
The leasehold land and buildings are represented by two residential flats: 3 and 10 Blackburn House, Prodigal Square, London E8 1FX. The flats were granted to the Trust as part of a s106 agreement with the developers of the new residential scheme adjacent to St John’s Church, for nil consideration. The initial valuation of the flats was provided by William Saxby, Chartered Surveyors. The leases are for 254 years (less three days) from and including 12 October 2017.
5. Creditors - Amounts Falling Due Within One Year
| Deposits held Accruals Other creditors |
2024 | 2023 £ 2,900 1,320 - 3,382 |
||
|---|---|---|---|---|
| £ | ||||
| 2,900 | ||||
| 1,380 | ||||
| 20,647 | ||||
| 24,927 | ||||
6. Related Party Transactions
All of the trustees are also members of the Parochial Church Council of the Ecclesiastical Parish of St John at Hackney (charity reg no 1158545) (“the PCC”). The Trust made grants to the Ecclesiastical Parish of St John at Hackney for £25,200 (2023: £25,200). As at 31 December 2024 the PCC owed the Charity £nil (2023: £nil).
The Trustees made £nil (2023: £nil) donations to the Trust during the year.
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