2024-06-30-accounts

Good Stewards Trust - Essex and East London (A Charitable Incorporated Organisation) Trustees, Annual Report and Accounts Year ended 30° June 2024

Good Stewards Trust- Essex and East London For the year ended 30 June 2024 CHARITY INFORMATION Trustees: Rev Kieran Bush. Chair (Appointed 2017) Rev MaTk Holdaway (Appointed 2017) Rev Joel Edwards (Appointed 2019) Mr Stuart Brooks (Appointed 2021) Rev Rob Hudson (Appointed 2021) Ms Helen Lyons (Appointed 2021) Rev Colin Taylor (Appointed 2021) Mrs Sandra Turner (Appointed 2022) Treasurer: Ms Helen Lyons Other name the charity uses: Essex and East London Good Stewards Trust (EELGST) Charity number: 1174767 Company number: CE012286 Registered Office: 18 Brookscroft Road London E17 4LH Independent Examiner: Mr Alan Gray FCA Bankers: The Co-operative Bank p.l.c.. l Balloon St, Manchester M60 4EP Status: The Good Stewards Trust- Essex and East London is a Charitable Incorporated Organisation (Foundation), registered 21 September 2017. Its Constitution is its governing document.

Good Stewards Trust- Essex and East London For the year ended 30 June 2024 REPORT OF THE TRUSTEES Objectives The Trust exists for the advancement of the Christian religion (as set forth in the Jerusalem Statement and Declaration of Anglican doctrine) and for the benefit of the public, mainly in the Diocese of Chelmsford or the neighbouring areas of Suffolk, Norfolk, Cambridgeshire, Hertfordshire, London and Kent, by supporting, through the making of grants and otherwise, a) the provision and maintenance of facilities for public worship, b) the provision of ministers for the conduct of public worship and provision of pastoral care, c) outreach and evangelisation, and d) the promotion of the awareness and understanding of Anglican doctrine Changes in Trustees Trustees are appointed for a term of three years. Rev Mark Holdaway was reappointed for a further term of three years at the AGM on 12th October 2023. Activities during the reporting period During the accounting period gifts totalling £304,527 were received by the Trust. Of that total, £301,443 was donated to Restricted Funds and £3,084 to the General Fund. In July 2023 nine churches were making regular gifts to the Restricted Fund {Parish Share). This had reduced to three churches by the end of the reporting period. General fund donations came from both churches and individuals and showed a small increase on last year. Gift Aid repayments of £300 were reclaimed on eligible gifts made during the accounling period. The delay in making some Parish Share donations in the previous financial year continued into this reporting period. By the end of 2023 the changes happening in the Church of England were clearly going to affect how the Trust would work with the Diocese of Chelmsford. In December the Trustees unanimously took the decision to reduce the grants to Chelmsford Diocesan Board of Finance {CDBF) for 2023 Parish Share. The Trust is supporting just four churches in 2024 with Parish Share payments to CDBF. The total funds used for this purpose in the reporting period was £214.353. Several donor churches changed the restriction on the funds they had donated and this has led to the setting up of Restricted Funds for the following purposes: to support Angli&an gospel ministry in Barking and Dagenham. to support gospel ministry in line with the EELGST objectives in North Walthamstow and beyond.

One donor church is pursuing a diffeient path and, after careful consideration, the Trustees unanimously supported a resolution in May 2024 to return the restricted donations it had made in 2023. A grant of £5,000 was made from restricted donations to support ministy at Dagenham Parish Church. A grant of £1,000 per annum was pledged from General Funds, for three years, to help enable St George's Church Becontree to employ an Assistant Minister. The Trust continues to work for its objective to advance the Christian religion. in partnership with its donor churches. It has continued to provide individuals and churches that wish to give towards the work of churches in Essex and East London a means for doing so. The work of the Treasurer, the Chair and the other Tnjstees is undertaken voluntarily and they received no remuneration, expenses. payments or benefits of any kind. There are no premises and no administrative staff. All of the Trust's income was used to further its objectives. In all the work of the Trust, the Trustees have had regard to the Charity Commission's guidance on public benefit Reserves The reserves policy agreed in November 2022 remains the same. The Trustees seek to keep a minimum of £2.000 and a maximum of £5,000 of unrestricted funds in reserve. Financial Review The Trust held unrestricted reserves of just under £9,000 at the end of the reporting period. During the reporting period the Trustees agreed a donations policy and a grant making policy. These will be used to encourage more applications for small grants in the coming year. Grants of up to £300 each, to a maximum total of £2,000 continue to be available to support ReNew Chelmsford partnership events, including training events put on by local hubs. Small grants are also available to individual churches to support them in carrying out the ReNew agenda (pioneering, establishing and securing healthy local Anglican churches). There is £125,402 held as restricted reserves. These are now in four different restricted funds with two more expected to be set up soon. These funds will enable larger grants to be made to support gospel ministry in specific areas.

Statement of Trustees responsibilities The Charities Act requires the Trustees to prepare, for each financial year, accounts which give a true and fair view of the state of affairs of the charity at the end of the year and of the surplus or deficiency for the year then ended. In preparing those accounts the trustees are required to select suitable accounting policies and then apply them consistently, making judgements and estimates that are reasonable and prudent, and prepare the accounts on the on going concern basis unless it is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time, the financial position of the charity. They 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. Approval This report was approved by order of the Trustees on 16 January 2025 and signed on their behalf by: Rev eran Bush (Chair)

Good Stewards Trust – Essex and East London

For the year ended 30[th] June 2024

INDEPENDENT EXAMINERS REPORT

I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended 30 June 2024, as set out on pages 7 to 14.

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 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner’s statement

The charity’s gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of the Institute of Chartered Accountants in England and Wales

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

• the accounting records were not kept in accordance with section 130 of the Charities Act; or

• accounts did not accord with the accounting records; or

• the accounts did 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.

Signed

Date : 22 January 2025

A D Gray FCA 73 Shepherds Hill Harold Wood RM3 0NP

6

Essex and East London Good Stewards Trust Statement of Financial Activities For the Period 0110712023 to 3010612024 Summary Income and Expenditure Account Restricted Total income funds funds 23124 Total funds 22123 Unrestricted funds Note Incoming Resources Voluntary income 3.084 301,443 304,527 420,814 Total incoming resources 3,084 301,443 304,527 420,814 Resources Expended Charitable activities Other 1,000 239,353 240,353 354,896 Total resources expended Net incomel(expenditure) 1,000 2,084 239,353 240,353 354.896 62,090 64,174 65,918 Net movement in funds Total funds brought forward Total funds carried fornard 2,084 6,850 8,934 62,090 64,174 65,918 63,312 70,162 4,244 125,402 134,336 70,162 Movements on reserves and all recognised gains and losses are shown above The notes on pages 9-14 form part of these accounts

Essex and East London Good Stewards Trust Balan￿ Sheet For the Period 0110712023 to 3010612024 Restricted Totsl Totsl income fvnds funds funds 23124 22123 Unrestricted funds Note Fixed Assets Tangible assets Totsl r￿ed assets Current Assets Debtors Cash at bank 150 9,784 9,934 150 125,402 135,186 70,162 125.402 135,336 70,162 Totsl current assets Creditors". amounts falling due within one year 1,000 1,000 Net current assets/(liabilities) 8,934 125,402 134,336 70,162 Net assets 8,934 125,402 134,336 70,162 Fund balances Unrestricted funds General Funds Restricted income funds 8,934 8,934 6,850 125,402 125,402 63,312 Total funds 8,934 125,402 134,336 70,162 Signed by two trustees on behalf of all the trustees Signature Print Name Date of approval 16/01/2025 1610112025 Kieran Bush Helen L ons

Section C Notes to the accounts Note 1 Basis of preparation 1.1 Basis of accounting These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise ststed in the relevant note(s) to these accounts. The accounts have been prepared in accordan￿ with the Statement of Recommended Practi￿.. Accounting and Reporting by Charities (2019) and FRS 102 and with the Charities Act 2011 1.2 Going concern There are no material un￿rtaIntieS related to events or conditions that cast signfficant doubt on the charity's ability to continue as a going concem 1.3 Change of accounting policies The accounts present a true and fair view and there has been no change to the accounting policies (valuation rules and methods of accounting) Sin￿ last year. 1.4 Changes to previous accounts No changes have been made to accounts for previous years.

Section C Notes to the accounts (cont) Note 2 Accounting policies This standard list of accounts.ng policies has been applied by the chailty. INCOMING RESOURCES Recognition of incoming resources These are included in the Statement of Financial Activits'es {SoFA) when: the chanty becomes entrtled to the resources" li is more likely than not that the trustees will receive the resources.. the monetary value can be measured with Suff￿lent reliability. Incoming resources wlth related expenditure Grants and donations Where incoming resources have related expenditure the incoming resources and related expendtture are reported gross in the SOFA Grants and donations are only included in the SOFA when the general income recognition criteria are met Gfft Aid receivable is included in income when there is a valid declaration from the donor. Any Grft Aid amount recovered on a donation is considered to be part of that grft and is treated as an addition to the same fund as the In￿'al donab'on unless the donor has specified otherwise. Tax reclaims on donations and gifts Donated goods t)onated goods are measured at fair value (the amount for which the asset could be exchanged) unless impractical to do so. Goods donated for on- going use by the charity are recognised as tangible fixed assets and included in the SOFA as incoming resources when receivable. Donated services and facilities are included in the SOFA when received at the value of the gift to the charty provided the value of the gift be measured reliably. The value of any voluntary help received is not included in the accounts but is described in the trustees, annual report. Donated services and facilitles Volunteer help EXPENDITURE AND LIABILITIES Liability recognition Liabilrties are recognised where it is more likely than not that there is a legal or constructive obligation committing the charty to pay out resources and the amount of the obligatton can be measured with reasonable rtainty. Comprises of all costs invol¥llng public accountabilty of the charity and its Complian￿ with regulation and good practice. Ipthere the charity gives a grant with conditions for its payment being a specific level of sep¥ice or output to be provided, such grants are only recognised in the SOFA On￿ the recipEnt of the grant has provided the specified service or output These are only recognised in the accounts when a commitment has been made and there are no condttions to be met relab'ng to the grant which remain in the control of the charity. Credrtors and provisions for liabilities and charges are recognised and measured as: credf(ors: amounts falling due within one year creditors: amounts falling due after one year provisions for liabilities Governance costs Grants with perfomiance conditions Grants payable without perfomiance conditions Creditors and provisions ASSETS Tangible fixed assets for use These are capitalised rf they can be used for more than one year, and cost by charlty at least £500. They are valued at cost or a reasonable value on receipt. 10

Section C Notes to the accounts (conti Note 3 Analysis of incoming resour￿$ Anatys Thls year L￿t y￿r D•g•nham pc Ho St Pauls St Petern ChuTeh Stjohns Saints Cross Mlchaol Other Totsl Total Voluntsry Incom Restricted donations Ggneral donat'ons £6,167 £20,397 £12.￿} £121.344 £5.325 £25.796 £34.903 £68.453 £4.627 £301,443 £417,702 £1.084 £500 £1,200 £2,784 £2.662 Gift Bank apol £300 £300 ies £150 Total £304,527 £420,814 11

Section C Notes to the accounts Iconti Nots4 Analysis ol resources expe•Mled Thls yoar Last yoar Total £214,353 £5.000 £1.000 £20.000 £240,353 Total £354,651 Charitablg 8¢tiviii•s t￿n3￿"0n$ lo Chelmsford Thor2se from Parish Share re5trictsd fvnd Donations to churthes frorn Churth Su rants ort for detai15 Returrted reStrIG￿ donatsons {see report for de￿15) Totsl £245 other £354,896 Note S Tangible fixgd assets The trust h8s no tsnglble fixed &%8ets 12

Section C Notes to the accounts {cont) Note 6 Endowment and restricted income funds 6.1 Funds held • restricted income funds, including special trusts, of the charity (R). Fund Name Type Purpose and Restrictions Restricted Fund (Parish Share Restricted Fund (Church Support) Restricted Fund (Barking and Dagenham) Restricted Fund North Walthamstow+) Fund to make Parish Share contributions to the appropriate Diocese, to support the ministry of contributing churches Fund to support churches named b the donors Fund to support Anglican gospel ministry in Barking and Dagenham Fund to support gospel ministry in North Walthamstow and beyond 6.2 Movements of major funds Fund balances brought forward Fund balances carrled forward Gains and losses Incoming resources Outgoing resources Transfers Fund names Restricted Fund (Parish Share Restricted Fund (Church Support) Restricted Fund (Barking and Dagenham) Restricted Fund (North Walthamstow+ 58.312 296.816 234.353 51,745 69,030 5.000 4,627 (5,000) 4,627 10,835 10,835 40,910 40,910 Unrestricted Funds 6,850 70,162 3,084 304,527 {1,000) 240,353 8,934 134,336 Total Funds 6.3 Transfers between funds From Fund (Name) To Fund (Name) Restricted Fund (Barking and Dagenham) Reason Amount Restricted Fund Parish Share) ransfer requested b donor 10,835 Restricted Fund (Parish Share) Restricted Fund (North Walthamstow+} ransfer requested b donor 40,910 13

Section C Notes to the accounts (cont) Note 7 Cash at bank and in hand This year Last year Short term cash investments (less than 3 months matu Short term deposits Cash at bank and on hand Other Total date) 135.186 70.162 135.186 70,162 Note 8 Transactions with trustees and related parties 8.1 Trustee remuneration and benefits None of the trustees have b￿n paid any remuneration or re￿Ned any other beneftts from an employment with their chanty or a related entity 8.2 Trustees. expenses No trustee expenses have b￿n inCu￿ed 8.3 Transactions with related parties There have been no related paty transactions in the reporting period 14