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