## **Good Stewards Trust – Essex and East London** 

(A Charitable Incorporated Organisation) 

## **Trustees’ Annual Report and Accounts** 

Year ended 30[th] June 2025 

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**Good Stewards Trust – Essex and East London** 

## **For the year ended 30[th] June 2025 CHARITY INFORMATION** 

|**Trustees:**|Rev Kieran Bush, Chair (Appointed 2017)|
|---|---|
||Rev Mark 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.,|
||1 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.|



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## **Good Stewards Trust – Essex and East London** 

## **For the year ended 30[th] June 2025** 

## **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. Stuart Brooks, Rob Hudson, Helen Lyons and Colin Taylor were reappointed as trustees for a further term of three years at the AGM on 16[th] January 2025 

## **Activities during the reporting period** 

Funds received: 

- Income of nearly £193,000 was received of which £191,000 was restricted funds 

- Regular restricted gifts were made by three churches, to be used for Parish Share payments 

- General income came from churches and individuals and Gift Aid was claimed on eligible donations 

Donations made: 

- £197,000 of restricted funds was donated to the Chelmsford Diocesan Board of Finance to be used as Parish Share for four churches 

- Christ Church Leyton was given grants totalling £28,000 from restricted funds to assist them in employing an Assistant Pastor and a part time Women’s Minister. 

- A grant of £1,000 to support the employment of an Assistant Minister was made from general funds to St George’s Church Becontree. The Trustees have pledged to continue this support for another year. 

- A grant of £1,000 (made up of both restricted and general funds) was given to Christ Church Leyton to help them subsidise the cost to parishioners of a residential church weekend on the topic of the Church, based on studies in Ephesians. 

In September 2024 the Trustees opened a 120 day notice saving account with Kingdom Bank to make better use of funds that were unlikely to be used in the next 6 months. The 

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Trustees chose Kingdom Bank rather than others considered because of their Christian credentials and because the money would be used to further gospel ministry. The initial interest rate was 3.5% but has dropped to 2.8%. Annual interest received in December 2024 was £506 with further interest of just over £1,000 due at the end of the accounting period. 

In the course of the financial year two more donor churches changed the restriction on funds they had donated in 2023 and this led to the setting up of another two restricted funds for the following purposes: 

- to support ministry costs at Christ Church Leyton 

- to support Gospel ministry in line with EELGST's objectives in Felsted and beyond. 

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 Trustees 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** 

There was a drop in income of over £100,000 compared to last year. This is largely a reflection of the difficult relationships that some Anglican churches now have with their local Diocese due to continuing controversy within the Church of England. 

The Trust held unrestricted reserves of £9,025 at the end of the reporting period. This remains similar to last year and partner churches have been encouraged to apply for more grants in the coming year. 

Grants are 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). 

Restricted reserves of £90,953 are held in four different restricted funds. Three of these funds are for the support of gospel ministry in specific areas and the other is for paying Parish Share. 

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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 on2*rtathk2D2fand signed on their
behalf by:
Rev Kieran Bush (Chair)

## **Good Stewards Trust – Essex and East London** 

## **For the year ended 30[th] June 2025** 

## **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 2025, as set out on pages 7 to 15. 

## **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** 

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** 3[rd] December 2025 

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

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## **Essex and East London Good Stewards Trust** 

## Statement of Financial Activities 

## For the Period **01/07/2024** to **30/06/2025** 

Summary Income and Expenditure Account 

||||**Restricted**|**Total**|**Total**|
|---|---|---|---|---|---|
|||**Unrestricted**|<br>**income**|**funds**|**funds**|
||**Note**|**funds**|**funds**|**24/25**|**23/24**|
|||**£**|**£**|**£**|**£**|
|**Incoming Resources**|3|||||
|Voluntary income||1,750|189,506|191,256|304,527|
|Interest on savings||51|1,487|1,538|-|
|**_Total incoming resources_**||1,801|190,993|192,794|304,527|
|**Resources Expended**|4|||||
|Charitable activities||1,710|225,442|227,152|240,353|
|Other||-|-|-|-|
|**_Total resources expended_**||1,710|225,442|227,152|240,353|
|Net income/(expenditure)||91|(34,449)|(34,358)|64,174|
|**_Net movement in funds_**||91|(34,449)|(34,358)|64,174|
|**Total funds brought forward**||8,934|125,402|134,336|70,162|
|**_Total funds carried forward_**||9,025|90,953|99,978|134,336|



Movements on reserves and all recognised gains and losses are shown above The notes on pages 9-15 form part of these accounts 

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Essex and East London Good Stewards Trust
Balance Sheet
For the Period 0110712024 to 3010612025
Restricted Total
income
funds
funds
24125
Total
funds
23124
Unrestricted
funds
Note
Flxed Assets
Tangible assets
Total fued assets
Current Assets
Debtors
Cash at bank
Total current assets
81
1,001
1,082
150
89,952 98,896 135,186
90,953 99,978 135,336
9,025
Creditors: amounts falling due
within one year
1,000
Net current assets/(liabilitles)
9,025
90,953 99,978 134,336
Net assets
9,025
90,953 99,978 134,336
Fund balances
Unrestricted funds
General Funds
Restricted income funds
9,025
9,025
8,934
90,953 90,953 125,402
Total funds
9.025
90,953 99,978 134.336
Signed by tsvo trustees on behalf of all the
trustses
Date of
approval
Signature
Print Name
Helen L
ons
Kieran Bush
27/11/25

**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 stated in the relevant note(s) to these accounts. 

The accounts have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities (2019) and FRS 102 and with the Charities Act 2011 

The charity constitutes a public benefit entity as defined by FRS 102. 

## **1.2  Going concern** 

There are no material uncertainties related to events or conditions that cast significant doubt on the charity's ability to continue as a going concern 

## **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) since last year. 

## **1.4 Changes to previous accounts** 

No changes have been made to accounts for previous years. 

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**Section C                       Notes to the accounts                                                 (cont)** 

## **Note 2                           Accounting policies** 

|**Note 2                           Accounting policies**|**Note 2                           Accounting policies**|
|---|---|
|**_This standard list of accounting policies has been applied by the charity._**||
|**INCOMING RESOURCES**||
|**Recognition of incoming**|These are included in the Statement of Financial Activities (SoFA) when:|
|**resources**|· the charity becomes entitled to the resources;|
||· it is more likely than not that the trustees will receive the resources;|
||· the monetary value can be measured with sufficient reliability.|
|**Incoming resources with**|Where incoming resources have related expenditure the incoming|
|**related expenditure**|resources and related expenditure are reported gross in the SoFA|
|**Grants and donations**|Grants and donations are only included in the SoFA when the general|
||income recognition criteria are met|
|**Tax reclaims on donations**|Gift Aid receivable is included in income when there is a valid declaration|
|**and gifts**|from the donor. Any Gift Aid amount recovered on a donation is|
||considered to be part of that gift and is treated as an addition to the same|
||fund as the initial donation unless the donor has specified otherwise.|
|**Donated goods**|Donated 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**|Donated services and facilities are included in the SOFA when received at|
|**facilities**|the value of the gift to the charity provided the value of the gift can be|
||measured reliably.|
|**Volunteer help**|The value of any voluntary help received is not included in the accounts<br>but is described in the trustees’ annual report.|
|**EXPENDITURE AND**|**LIABILITIES**|
|**Liability recognition**|Liabilities are recognised where it is more likely than not that there is a|
||legal or constructive obligation committing the charity to pay out resources|
||and the amount of the obligation can be measured with reasonable|
||certainty.|
|**Governance costs**|Comprises of all costs involving public accountability of the charity and its|
||compliance with regulation and good practice.|
|**Grants with performance**<br>**conditions**|Where the charity gives a grant with conditions for its payment being a<br>specific level of service or output to be provided, such grants are only|
||recognised in the SoFA once the recipient of the grant has provided the|
||specified service or output.|
|**Grants payable without**<br>**performance conditions**|These are only recognised in the accounts when a commitment has been<br>made and there are no conditions to be met relating to the grant which|
||remain in the control of the charity.|
|**Creditors and provisions**|Creditors and provisions for liabilities and charges are recognised and|
||measured as:|
||· creditors: amounts falling due within one year|
||· creditors: amounts falling due after one year|
||· provisions for liabilities|



## **ASSETS** 

**Tangible fixed assets for use by charity** 

These are capitalised if they can be used for more than one year, and cost at least £500.  They are valued at cost or a reasonable value on receipt. 

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## **Section C                                                Notes to the accounts                                                    (cont)** 

## **Note 3                           Analysis of incoming resources** 

|**Voluntary**<br>**income and**<br>**Savings**<br>**Interest**|**Analysis**||||||**Thisyear**<br>**Lastyear**|**Thisyear**<br>**Lastyear**|
|---|---|---|---|---|---|---|---|---|
|||**St Georges **|**St Peters **|**St Johns **|**St Michael**|**Other**|**Total**|**Total**|
||Restricted donations|£18,934|£99,818|-|£70,754|-|£189,506|£301,443|
||Interest(restricted funds)|||||£1,487|£1,487|-|
||General donations|||£250||£1,200|£1,450|£2,784|
||Interest(general funds)|||||£51|£51|-|
||Gift Aid|||||£300|£300|£300|
||**Total**||||||£192,794|£304,527|



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**Section C                               Notes to the accounts                                                                                        (cont)** 

## **Note 4                           Analysis of resources expended** 

||**Analysis**||||||**Thisyear**<br>**Lastyear**|**Thisyear**<br>**Lastyear**|
|---|---|---|---|---|---|---|---|---|
|||**Parish Share**<br>**(restricted)**|<br>**Church**<br>**Support**<br>**(restricted)**|**Barking and**<br>**Dagenham**<br>**(restricted)**|**Christ Church**<br>**Leyton**<br>**(restricted)**|<br>**General**<br>**Fund**|**Total**|**Total**|
|**Charitable**<br>**activities**|Donations to Chelmsford<br>Diocese|£189,525|£4,627|£3,000|||£197,152|£214,353|
||Grants for Ministry<br>Support||||£28,290||£28,290|£5,000|
||Other grants (see report<br>for details)|||||£1,710|£1,710|£1,000|
|**Other**|Returned restricted<br>donations||||||-|£20,000|
||**Total**||||||£227,152|£240,353|



## **Note 5                           Tangible fixed assets** 

The trust has no tangible fixed assets 

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**Section C                                                      Notes to the accounts                                                                     (cont)** 

## **Note 6                         Charity funds** 

## **6.1 Details of material funds held and movements during the current reporting period** 

**Key:    R - restricted income funds,   U - unrestricted funds** 

|**Fund names**|**Type**|**Purpose and Restrictions**|**£**<br>**Fund**<br>**balances**<br>**brought**<br>**forward**|**£**<br>**Incoming**<br>**resources**|**£**<br>**Outgoing**<br>**resources**|**Transfers**<br>**£**|**£**<br>**Gains**<br>**and**<br>**losses**|**£**<br>**Fund**<br>**balances**<br>**carried**<br>**forward**|
|---|---|---|---|---|---|---|---|---|
|Restricted Fund<br>(Parish Share)|**R**|To make Parish Share contributions<br>to the appropriate Diocese, to support<br>the ministryof contributingchurches|69,030|189,506|(189,525)|(69,010)|-|1|
|Restricted Fund<br>(Church Support)|**R**|To support ministry in churches<br>named bythe donors|4,627||(4,627)||-|-|
|Restricted Fund<br>(Barkingand Dagenham)|**R**|To support Anglican gospel ministry in<br>Barkingand Dagenham|10,835<br>|128|(3,000)|-|-|7,963|
|Restricted Fund<br>(North Walthamstow+)|**R**|To support gospel ministry in North<br>Walthamstow and beyond|40,910|810|-|-|-|41,720|
|Restricted Fund<br>(Christ Church Leyton)|**R**|To support ministry costs at Christ<br>Church Leyton|-||(28,290)|28,290|-|-|
|Restricted Fund<br>(Felsted+)|**R**|To support gospel ministry in Felsted<br>and beyond|-|549||40,720||41,269|
|General Funds|**U**|Unrestricted funds to fulfil the objects<br>of the trust|8,934|1,801|(1,710)|-|-|9,025|
|**Total Funds as per balance sheet**|||134,336|192,794|(227,152)|0|-|99,978|



13 



## **Section C                                                   Notes to the accounts                                               (cont)** 

## **Note 6                         Charity funds (cont)** 

## **6.2 Transfers between funds** 

## **This year** 

|**From Fund(Name)**|**To Fund(Name)**|**Reason**|**Amount**|
|---|---|---|---|
|Restricted Fund<br>(Parish Share)|Restricted Fund<br>(Christ Church Leyton)|Transfer requested bydonor|28,290|
|Restricted Fund<br>(Parish Share)|Restricted Fund<br>(Felsted+)|Transfer requested bydonor|40,720|



14 



## **Section C                          Notes to the accounts                                         (cont)** 

## **Note 7                          Cash at bank and in hand** 

|**Note 7                          Cash at bank and in hand**|||
|---|---|---|
||**This year**<br>**£**|**Last year**<br>**£**|
|Short term deposits|-|-|
|Cash at bank and on hand|98,896|135,186|
|Other|-|-|
|**Total**|98,896|135,186|



## **Note 8                         Transactions with trustees and related parties** 

## **8.1 Trustee remuneration and benefits** 

None of the trustees have been paid any remuneration or received any other benefits from an employment with their charity or a related entity 

## **8.2 Trustees' expenses** 

No trustee expenses have been incurred 

## **8.3 Transactions with related parties** 

There have been no related party transactions in the reporting period 

15