2024-12-31-accounts

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TRUSTEES’ ANNUAL REPORT AND FINANCIAL STATEMENTS

Charity no 1177097

For the year ended 31 December 2024

	Page(s)
Legal, Reference & Administrative Details	3
Trustees’ Annual Report	4 - 7
Independent Auditor's Report	8 - 9
Statement of Financial Affairs	10 - 18
Notes to the Accounts & Further Information	19 - 24

Page 2 of 25

LEGAL, REFERENCE & ADMINISTRATIVE DETAILS

TRUSTEES

The names of the trustees who served during the year and who were trustees at the end of the period covered by this report are:

Stuart Davis (Chairperson) Gavin Kinnaird George Mmbago Nigel Warner David Blake James Mildred

ADDRESS 205 Trinity Road Tooting London SW17 7HW BANKERS National Westminster Bank Plc 98 Wandsworth High Street Wandsworth London SW18 4ZD AUDITOR & Jacob Farley INDEPENDENT EXAMINER Stewardship 1 Lamb’s Place London EC1Y 8AB SOLICITOR Edward Connor Solicitors 10 The Point Market Harborough Leicestershire LE16 7QU

Page 3 of 25

TRUSTEES’ ANNUAL REPORT TO MEMBERS

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing Document

Trinity Road Chapel (the ‘Church’) is a Charitable Incorporated Organisation. Its constitution was approved by members of Trinity Road Chapel and was registered by the Charities Commission on 9[th] February 2018.

Management

The Church’s Trustees meet regularly to oversee the strategy of the Church and to ensure that it is working in accordance with its Constitution and the regulations contained in its Rule Book. They also oversee the day-to-day running of the Church and, whilst they have a supervisory role, day-to-day tasks are often delegated to other Church members who may be more qualified to undertake the various tasks.

Any major decisions recommended by the Trustees are taken to a duly convened Church Members’ meeting for approval. The Trustees actively encourage members to become involved in the activities of the church all of which are undertaken on a voluntary basis.

Appointment of Church officers

All Church appointments are made under the recommendation of either the Elders or the Trustees.

Trustees are always appointed from those who know the Church in depth, are known to be concerned for its wellbeing, and are persons of integrity who are regarded by those who appoint them as having the attributes necessary to serve as Trustees. They are all compliant with Charity Commission regulations relating to eligibility to undertake the responsibilities of a trustee.

Risk Management

The Trustees monitor the major strategic, business, and operational risks the Church faces, and confirm that appropriate systems and procedures have been established to control and minimise any risks identified. Wherever possible the Church uses the talents, skills, qualifications, and experience of its members to undertake appropriate and relevant tasks. Examples of risk assessments undertaken are Health and Safety; Fire prevention; Food Hygiene, Child Protection and Financial System Controls.

The risk associated with cash investment was evaluated by distributing funds across 17 banks, each covered by the standard Financial Conduct Authority guarantee of £85,000 per bank. As a result, £1,360,000 was guaranteed, while the remaining £140,000 represented the agreed risk, invested in accounts offering higher interest rates. The selection of banks considered both alignment with the charity's ethos and financial stability. The trustees determined that this approach was preferable given the contracts for refurbishments. will start early part of 2025.

The funding of the Church is predominantly from freewill gifts and donations made by the members and congregation. Due to fluctuations in this type of income from year to year, the Church maintains a rolling 5-year business plan that is updated annually. This plan provides both financial and operational planning. Internal control risks are minimized by the implementation of appropriate authorization procedures for all transactions and projects.

Properties owned by the church are fully insured, with the insurance being reviewed on an annual basis. Any recommendations made by our insurers are addressed immediately.

Page 4 of 25

Trustees Responsibilities:

Governance and internal controls

Under the Charities Act 2011, the trustees are required to prepare financial statements for each financial year which provide a true and fair view of the state of affairs of the Church. In preparing those financial statements the Trustees have:

a. Selected suitable accounting policies and procedures and applied them consistently,
b. made judgments and forecasts that are reasonable and prudent,
c. stated whether the applicable accounting standards have been followed, and
d. prepared the financial statements on an ongoing concern basis.

The Trustees have overall responsibility for ensuring the Church has an appropriate system of internal controls, both financial and otherwise. They are also responsible for keeping proper accounting records which disclose (with reasonable accuracy at any time) the financial position of the Church and ensure that such accounts and records comply with the Charities Act 2011.

They also have a responsibility to safeguard the assets of the Church and to take reasonable steps to detect fraud and other irregularities and to provide reasonable assurance that:

a. the Church is operating efficiently and effectively,
b. its assets are safeguarded against unauthorised use or disposition,
c. financial information used within the Church or for publication is reliable, and
d. the Church complies with current legislation.

The following Trustees served in various offices during the year

Pastor & Elder:	Stuart Davis
Assistant Pastor & Elder: Gavin Kinnaird
Treasurer & Elder:	George Mmbago
Elder:	James Mildred
Administrator:	Dave Blake
Property Manager:	Nigel Warner

Four other deacons served during the year in dealing with the day to day running of the church. There are also volunteers supporting the work of the church.

The Treasurer and Administrator, as part of the finance team, oversee the financial affairs of Trinity Road Chapel. This includes framing an annual budget and, along with the Property Manager, overseeing building and maintenance matters prior to presenting them to the Trustees for their consideration. Once approved, the proposed budget is taken to a Church Members’ Meeting for the members acceptance and approval.

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OBJECTIVES AND ACTIVITIES

The principal objects of the Trinity Road Chapel (the ‘Church’) are to:

a. provide a place where people may meet to worship God and hear the Christian message,
b. publicise the activities and beliefs of the Church in the surrounding area, and support Church members who are in full time Christian service,
c. the advancement of the Christian faith according to our Basis of Faith to include the advancement of education and other general charitable purposes in such parts of United Kingdom and the world as the church shall determine.

In working to achieve these objectives, the Trustees, under the guidance and direction of the Elders have either continued or initiated various meetings and events during the year.

The Chapel building was built circa 1870, with other buildings being erected at later dates. The premises are all maintained to the highest standards, with funding coming from rental income from the church properties and supplemented by donated or gifted income. The Chapel and Café 207 will be completely refurbished during 2024. We have wheelchair access, accessible toilets with baby changing facilities and an induction loop for hearing aid users. We have a high-quality PA system to assist worship and information display.

Meetings:

Normally Christian services take place on the Church premises twice on a Sunday, with a prayer meeting being held on a Thursday. Additional meetings held during the week include Youth club, ignite (Youth work), Women’s Bible Study, Logos Bible Study for Young Adults, Luncheon Plus, Shaping Up and House Groups. Members’ meetings are held regularly with all members being encouraged to attend. We sometimes hold special services during the year, including baptisms, Christmas, Harvest Thanksgiving Service and a Remembrance Day Service.

We have three other groups which we have strong relationships with, they are Weights Watchers, Monkey Music, Mini-Mozart and Mini-Rackets use our church rooms to teach both children and adults.

Church services and other ministry services continue to be available online to the regular congregation and others on YouTube, together with livestreaming capabilities so that services taking place in the building do not exclude those who unable to attend.

The Church publicises its activities in various ways such as using posters on the external church notice boards, leaflet distribution to homes in the surrounding area, and through the church website and social media. All these avenues advertise and invite people to the various activities going on in the Church throughout the year. The most encouraging response is typically seen by the regular high attendance at the Christmas ‘Carols by Candlelight’ Service.

For the year ending 31[st] December 2024, Trinity Road Chapel had 89 members.

Our morning and evening services are well attended each Sunday with over 90 regularly attending the morning services and about 50 attending the evening services. A weekly prayer meeting is held on a Thursday evening, with about 35 people attending.

Several local schools use our facilities as part of their Religious Education programme. Classes are shown around the premises with explanation given as to the various parts of the building and an insight into the true meaning of Christianity. Several schools also use the premises for special events such as Parent Concert evenings, Historical Drama coaching, and prize giving. Bible Exhibition events are also attended by local schools.

Prison Ministry:

Outreach to the community has been central to the vision of the church.

Our Pastor is a volunteer chaplain in HMP Wandsworth and has responsibility for a Sunday Service each month in the prison. On other days in the week, he visits the prison to provide pastoral care to the inmates.

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Care Home Ministry :

A Care Home Ministry team has been going into local care homes, Rosedene, Cumberland, Trinity Court and The Meadowcroft to have a short church service for the residents and their families.

Support for Mission Partners

We support several overseas Mission Partners, both by prayer and in financial terms.

The Church has several its members who are in full time service overseas. The church supports the Mission Societies to which they belong and regularly provides financial support towards the projects in which they engaged in. Our church members who are on site send regular reports on the progress of the projects.

Two of our members have worked in Kwa Zulu Natal for over 40 years in medical and welfare work. Now retired from their positions in the hospital and social work, they continue to serve with the mission organisation is teaching and training churches across various countries in Africa.

Two of our members work in West Africa with a well-known linguistics organisation. They work with a team and in several languages to translate the bible and help Pastors and Christians to listen to the bible in their own language. One such invention was to introduce ‘Proclaimers’ to the country, thereby providing the local population with the means to listen to the Bible in their own language. They also produce Children’s Sunday School material in the local languages and alongside many churches training hundreds of Sunday School Teachers and Pastors in scripture use.

We also actively support, both financially and by prayer, the work of Friends of Mandritsara Trust. This trust started as a project set up by a husband-and-wife team from our church who have since retired from this work. Next year we are proposing to send a team of six to visit the project, to see how the work is flourishing, and to practically support them. New Operating theatres, new hospital wards have been and are being built. Our support goes to such projects as the ‘Hopitaly Vaovao Mahafaly’ which helps towards such things as the ongoing building, development, and maintenance costs; running and staffing a Sunday School; providing funding to enable them to pay staff to run the local Christian radio station and sending teams of eye surgeons into villages in the surrounding area - some up to 200 miles away.

Details of financial support given to these individuals and their organisations are shown on page 16 of this report.

Achievements and performance:

Our café, Café207 was closed during the second half of the year awaiting a full refurbishment early in 2024. The newly refurbished premises will re-open on Mondays to Fridays from 8.00am through to 2.00pm. It is a great place for the community to come and buy food and drinks, a place where they can chat and even receive pastoral care if they wanted. It provides an opportunity for the church to meet those who live in our locality, and particularly those who are looking for someone to help them with their concerns, challenges, and other various needs. Many folks have come through the doors and are very appreciative of the service and the fellowship they receive.

Café207 was opened in 2006 and uses the Church premises on the ground floor of number 207 Trinity Road, hence its name. Incorporated into the premises of the café is an extensive play area where younger children can play in safety whilst being supervised by their parents, carers, au pairs, etc.,

We run weekly I gnite Groups ‘Spark’, ‘Flame’ and ‘Blaze’ for children aged 4-14. As well as playing games, the children will have a lesson from the bible, be taught life skills, play games and have activities suited to their age.

The Life Expo Exhibition

During 2024, and in co-ordination with staff at Finton House School, we hosted The Life Expo, which is an interactive bible exhibition for Primary age children. During the week we invited children from several different Wandsworth Borough schools. There was no charge made to the schools attending this exhibition.

Page 7 of 25

We enjoy a very good relationship with Finton House School which has its premises further along Trinity Road. The school holds various concerts in the church buildings to which their parents are invited and has other activities where a larger hall is required to accommodate the numbers involved.

Wandsworth Council regularly book one of our rooms as a Polling Station for both local and general elections.

House Fellowship Groups were continued. These are smaller groups meeting in Church Members homes to foster good friendships, learn from the bible and pray with one another

Approval:

The report and financial statements were approved by Trustees on 10[th] September 2025 and will be presented to the members on 25[7h] September 2025

The Trustees have authorised the following person to sign on their behalf:

David Blake - Administrator and Trustee----signed

Page 8 of 25

INDEPENDENT AUDITOR’S REPORT

To the Trustees of TRINITY ROAD CHAPEL

We have audited the financial statements of Trinity Road Chapel for the year ended 31[st] December 2024 on pages 11 to 19 and the notes on pages 20 to 22. The financial reporting framework that has been applied in their preparation is applicable law and in accordance with UK Accounting Standards including Financial Reporting Standard FRS 102, of the Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

The report is made solely for the Charity’s trustees, as a body, in accordance with section 144 of the Charities Act 2011 and the regulations made under section 154 of the Act.

Our audit work has been undertaken so that we might state to the Charity’s trustees those matters we are required to state to them in an auditor’s 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 charity’s trustees as a body, for audit work, for this report, or for the opinions we have formed.

Respective responsibilities of trustees and Auditor:

The trustees of the Church are responsible for the preparation of the financial statements which give a true and fair view.

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the regulations made under section 154 of that Act.

The income of the charity for the year then ended was more than £500,000.

Our responsibility is to audit and express an opinion on the financial statements in accordance with applicable law and International Standards on Auditing (UK and Ireland). Those standards require us to comply with the Auditing Practices Board’s (APB’s) Ethical Standards for Auditors.

Scope of Audit of the financial statements :

An audit involves obtaining evidence about the amounts and disclosures in the financial statements sufficient to give reasonable assurance that the financial statements are free from material misstatements, whether caused by fraud or error. This includes an assessment of whether the accounting policies are appropriate to the charity’s circumstances, and have been consistently applied and adequately disclosed, the reasonableness of significant accounting estimates made by the trustees, and the overall preparation of the financial statements.

In addition, we read all the financial and non-financial information contained in the Annual Trustees Report to identify material inconsistencies with the audited financial statements and identify any information that is apparently materially incorrect based on, or materially inconsistent with, the knowledge acquired by us in the course of performing the audit, if we become aware of any apparent material misstatements or inconsistencies, we consider the implications for our report.

Opinion on financial statements:

In our opinion the financial statements:

a. give a true and fair view of the state of the charity’s affairs as of 31[st] December 2024, and of its incoming resources and application of resources, for the year then ended.
b. have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice: and
c. have been prepared in accordance with the requirements of the Charities Act 2011

Matters on which we are required to report by exception:

Page 9 of 25

We have nothing to report in respect of the following matters where the Charities Act 2011 requires us to report to you if, in our opinion:

a) the information given in the Trustees’ Report is inconsistent in any material respect with the financial statements.
b) sufficient accounting records have not been kept:
c) the financial statements are not in agreement with the accounting records and returns: or
d) we have not received all the information and explanations we require for our audit.

Jacob Farley (I C A) 27[th] September 2025

For and on behalf of: Stewardship 1 Lamb’s Passage London EC1Y 8AB

Date : 14[th] October 2025

Page 10 of 25

Statement of Financial Affairs for year ending 31[st] December 2024

FINANCIAL REVIEW

Care has been taken to ensure that the accounts present financial information that is relevant, reliable, comparable and complete and do not offset assets and liabilities or income and expenses.

The accounts have been prepared based on the charity being a going concern.

Comparative information has been provided for all amounts presented in the current period’s financial statements, which include the notes.

There are no prior year adjustments.

During 2024, the income from gifts and offerings, including reclaimed gift aid tax, total £150k (£132k in 2023).

That was an increase of 8k from previous year on freewill gifts. This reflects continued commitment of the church members in supporting the ministries of the church.

Charitable Activities income was £24k (£20k in 2023). The income stream from rental of premises of £12k in 2024 (£5k-2023) will continue to be small compared to previous years as one of the properties has been sold in 2024 deemed by the Trustees to be a surplus Charity asset.

The Trustees decided to use the proceeds to refurbish the chapel and worship premises.

The sale of 6 Magdalen Road was completed in April 2024. The sales proceeds of £1.55m as shown on SOFA.

The purpose of the funds to be raised from the sale and from members donations is to fund the refurbishment of the church and purchase another modern property with income stream to fund the various charitable activities.

The Trustees deemed there will be sufficient funds for the refurbishment of the church and surplus funds will be invested in the purchase of a new property. This will then be let to bring in an income stream to fund the ministries and achieve the objectives of the charity.

The current unrestricted reserves of £1,641k (£507k in 2023) of which £412k has been spent as part of the refurbishment and some will cover the shortfall in rental income and fund Phase One and Phase two of the refurbishment of the church.

Total income from all resources was £1,761k (£156k in 2023). This was due to the disposal of surplus charity property in April for £1,55m whereas in 2023 it was nil.

The strategic focus for the year ended was to plan for refurbishments of the chapel and its other facilities.

Church costs were £502k (£138k in 2023). The increase of £364k was mainly due to phase One refurbishment costs. Excluding refurbishment costs, personnel costs, church costs remained steady at 89k(88k-2023)

Employment costs for the year ended 31[st] December 2024 was £74k (£61k in 2023). The increase of 13k was due to Café Outreach with a new full time Cafe207 manager in 2024.

Grants’ payables are made from the Missionary Fund. The income to this fund is made up partly by receiving a percentage of the offerings received in the General Fund, together with direct gifts. to the missionary fund. The total was £20k (£22k in 2023) from direct gifts including funds raised for special projects and £23k (19k-2023) was transferred from the General Fund.

Page 11 of 25

Grants’ payable were £48k (£51k in 2023). There were fewer special projects in 2024.

Funds Statement

The Capital Fund which includes all tangible fixed assets, amounted to net £6,310k (£6,736k in 2023) as at the end of the year. The decrease of £426k was due to the disposal of 6 Magdalen Road as a surplus charity asset to use the funds generated by the sale and further contributions from members, to refurbish the chapel and its other facilities. There was no depreciation charge for the year.

Restricted Funds, which includes the Missionary Fund, amounted to £20k (£21k in 2023). This is made up of Benevolent Fund £2k and Missionary Fund £18k. As the policy is to make grants in the period income is received, the reserve of £20k is not considered excessive.

Designated specific Funds were £1,641k (£507k in 2023). The increase of £1,133k was due to the sales proceeds from the Surplus Charity Asset 1,55m less refurbishment costs incurred in 2024.

Grants to organisations and individuals amounted to £48k (51k-2023) from the Restricted Fund.

Grant making policy

Most grants payable from Unrestricted Funds are based on a fixed allocation figure each year. The grants payable from Restricted Funds are mainly allocated on a percentage basis over the various organisations or individuals together with amounts given specifically for a particular purpose. Details of grants are set out in Note 4 to the Accounts: Grants Payable.

Reserves Policy

The Five-year business plan envisages income, capital and revenue expenditure on the Church buildings totalling approximately £800k at current costs covering primarily the categories within designated reserves as shown in Note 9 to the accounts (Movement in Funds). These projects are foreseen to be continuous throughout this period and for this reason long term investments are not currently being made, and free reserves are not considered to be excessive. Unrestricted and free reserves which are maintained in the Designated Funds amounted to £1,667k (£541k in 2023) (Designated £1,646k and General £21k at year end). In 2022 Designated Reserves were £507K with £34k in the General Fund.

The Trustees do not consider the reserves excessive as they fund current expenditure for the duration of the refurbishment project as there is no rental income stream for the duration of the project to support charitable activities.

Details of reserves are set out in Note 8 to the Accounts (Analysis of Net Assets between Funds).

Investment Policy

Given the current level of reserves, the investment policy is to ensure that the capital of the charity is preserved, and that interest income is maximised. Therefore, surplus cash balances are maintained in appropriate bank current accounts.

Public Benefit

C@fé207 continues to act as a main meeting point for those within our community and is an integral part of the programme to reach out into the community in the area surrounding Trinity Road Chapel. The café is a non-profit making concern that is staffed by a paid Manager, supported by church members who give of their time to serve in a voluntary capacity.

Prison Ministry and Care Home Ministries enables the Church to engage with the communities where it is located for the public good.

The Trustees confirm that they have had regard to the Charities Commission’s guidance on public benefit .

For the future

Projects for the future which are currently under review are:

Page 12 of 25

Refurbishing the kitchen in the chapel-This has begun
Renovating the Chapel. -This will be completed in 2025
Renovating the ceiling in the chapel foyer.
Redesigning the main kitchen, lounge, and Churcher Room. -This begun in 2024
Invest surplus funds in higher interest rates earning funds to minimise the loss of income from the sale of 6 Magdalen Road and invest by purchasing another property for rental. -Funds have been invested and the returns are deemed sufficient to cover the loss funded from existing reserves.

These are all subject to the financial position of the charity at the time. Hence the disposal of surplus charity property to contribute to the future costs above.

Statement of Financial Affairs for the year ending 31[st] December 2024

Note Income and endowments from: Donations & Legacies Charitable Activities Investment Income Other income- Total Incoming Resources 1 Resources Expended Expenditure in furtherance of charitable objectives Expenditure on raising funds Charitable activities 2 Total Resources Expended Net In/out Resources before transfers Gross transfer between funds 3 Net incoming resources before other gains 4	General & Capital Funds Designated Funds Restricted Funds Total Funds 2024 Total Funds 2023 £ £ £ £ £ 128,902 20,782 149,684 132,418 12,127 12,227 24,354 19,897
	141,029 12,727 20,782 174,038 152,315 4,501 12,173 16,674 4,458 1,570,788 1,570,788
	145,530 1,595,188 20,782 1,761,500 156,773 (166,102) (413,062) (44,682) (623,846) (249,659)
	(166,102) (413,062) (44,682) (623,846) (249,659) (20,572) 1,182,126 (23,900) 1,137,654 (92,886) 24,772 (48,117) 23,345 0 0
	4,200 1,134,009 (555) 1,137,654 (92,886)

Page 13 of 25

Other gains recognised Capital reserve revaluation 4 Net movement in Funds Funds balances as at 1st January 2024 5 Funds balances as at 31st December 2024 6	(426,365) (426,365) 206,135
	(422,165) 1,134,009 (555) 711,289 113,249 6,770,296 507,457 20,548 7,298,301 7,185,052
	6,348,131 1,641,466 19,993 8,009,590 7,298,301

The statement of Financial Affairs includes all gains and losses in the year. All incoming resources and resources expended derive from continuing activities.

Movements on reserves and all known gains and losses are included in the above.

BALANCE SHEET AS AT 31[ST] DECEMBER 2024

Note Tangible Fixed Assets 7 Current Assets Investments -cash Debtors & prepayments 8 Cash at bank 9 Creditors: Amounts falling within one year Falling after one year 10 Net Current Assets NET ASSETS Unrestricted Funds Designated Funds General Fund Capital Fund	2024 £ 6,310,234 1,512,173 30,9067 164,493 1,707,633 (8,277) 1,699,356 8,009,590 1,641,466 37,897 6,310,234	2023 £ 6,736,599 31,879 542,476
		574,355
		(12,653)
		561,702
		7,298,301
		507,457 33,697 6,736,599

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Trustees on 27thSeptember 2025 and signed on behalf David Blake --Trustee signed Restricted Funds TOTAL FUNDS	of the Charity by: 7,989,597 19,993 8,009,590	7,277,753 20,548
		7,298,301

These financial statements were approved by the

Cash Flow Statement for the year ended 31[st] December 2024

Debtors Other debtors Net Income/(expenditure) for the year as per the statement Of Financial Activities Capital Revaluation-add loss Depreciation charged in the year Cash Flows from (to) operating activities Change in Debtors and Creditors Change in Cash in the reporting period Cash at the beginning of the reporting period Cash at the end of the reporting period Gift Aid Claim -Income tax recoverable Prepaid insuranse Interest Receivable accrued Creditors Audit and Accounts HMRC Paye and Pension Utilities and other Net Debtors and Creditors Net change in debtors and creditors	2024 2023 £ £ 711,289 113,249 426,365 (206,135) 0 0	2024 2023 £ £ 711,289 113,249 426,365 (206,135) 0 0
	1,137,654	(92,886)
	(3,464) (17,497 )
	1,134,190 (110,383)
	542,476 652,859
	3,552 100 1,676,666 542,476 8,487 24,304 6,145 7,475 12,783 0
	30,967	31,879)
	1,000 1,170 2,746 824 4,531 10,659 8,277 12,653
	22,690 19,226
	(3,464) (17,497)

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11. Grants Payable *Organisations & supported* *individuals* Training Colleges SIM International Friends of Mandritsara London Pastors Wives Ministry UFM(Unevangelised Field Mission Wycliffe Bible Translators FIEC Affiliation Other gifts to organisations and individuals	3,794 44,682 48,476 51,103 Unrestricted Funds Unrestricted Designated Funds Restricted Funds Total 2024 Total 2023 £ £ £ £ £ - 3,600 3,600 5,501 - - 2,400 2,400 2,350 - - 7,883 7,883 8,199 - 1,000 1,100 1,000 - - 1,810 1,810 3,800 - - 15,760 15,760 14,175 - - - - 2,794- - 2,794 2,556 - - - - - - - - - - - - - - - - - 13,229 10,466 10,466

The individuals supported are church members in Christian service and receive their support via the listed charities and organisations:

Projects supported via Grants Payable include: Mseleni Children Home (to alleviate poverty) £2,400 Friends of Mandritsara Good News Hospital £7,883 Friends of Mandritsara Poor Fund £3,000 Bible Translation through Wycliffe Bible Translators £15,760

Church costs	Unrestricted	Designated	Restricted	Total	Total
12	Fund	Funds	Funds	2024	2023
	£	£	£	£	£
Visiting speakers	625	-	-	625	300
Gas and Electricity	25,941	-	-	25,941	32,090
Redevelopment Phase1		412,668-	-	412,668	49,345
Repairs & Renewals	11,442		-	11,442	7,385
Printing & Stationery	1,670	-	-	1,670	1,801
Postage & Telephone	1,108	-	-	1,108	1,566
Council Tax, Water Rates	5,960	-	-	5,960	5,804
Transport	235	-	-	235	0
Insurance	6,704	-	-	6,704	6,541
Church Newsletter costs	1,429	-	-	1,429	1,498

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Publicity & outreach/evangelism	4,881	394-		5,275
Pastoral care Visitation Conferences (pastors) Catering/Kitchen Cleaning Teaching Materials	2,661	-	-	2,661
	2,335	-	-	2,335
		-	-
	486	-	-	486
	3,318	-	-	3,318
	627	-	-	627
Ministry Premises	12,600	-	-	12,600
Audit and Accounts	1,680	-	-	1,680
PA System	2,030	-	-	2,030
Youth Work/Brigades	749	-	-	749
		-	-
Copyrights and licenses	1,109	-	-	1,109
Subscriptions	1,179	-	-	1,179

	88,769	413,062	-	501,831
Expenditure raising funds (gift aid) Expenditure on Charitable activities

	88,769	413,062		501,851
	88,769	413,062		501,851
Employment costs
Gross wages and salaries	71,221	-	-	71,221
National insurance	59	-	-	59
Pension contributions	2,259	-	-	2,259
	73,539	-	-	73,539

The Church employed 4 people during the year. (2022-4) No employee was paid remuneration of more than £60,000 per annum.

Trustees who are also employees: Stuart Davis - Pastor: Gross Salary £25,179 plus accommodation on church premises.

Benefits: Pension £947 Expenses claimed £585 , not as a Trustee

Gavin Kinnaird - Assistant Pastor; Gross Salary £18,480 plus accommodation: Benefits: Pension £530 Expenses claimed £110, not as a Trustee

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Trinity Road Chapel Statement of Financial Affairs for year ending 31st December 2024

Debtors & Prepayments			2024	2023
			£	£
Accrued Interest	8		12,783
Income tax recoverable			8,487	23,404
Prepaid insurance			6,145	7,475
			3,552	100
Other debtors & prepayments
			30,967	31,879

Cash at Bank	9
Current accounts			58,640	54,995
Deposit accounts & Investment (cash)			1,618,026	487,481
			1,676,666	542,476

Creditors & Accruals	10

Accrued liabilities			(7,277)	(11,483)

Audit & Accounts			(1,000)	(1,170)

			(8,277)	(12,653)
Movement in Funds	Funds as at 1st Jan 2023	Incoming Resources	Expended	Fund Transfers
	£	£	£	£
Specific Funds
Missionary Fund	18,477	20,758	(44,682)	23,345

Benevolent	2,071	24


Restricted Funds	20,548	20,782	(44,682)	23,345


Unrestricted Funds	£	£	£	£
Evangelism	394	-	(394)	-
Mandatory Reserve	40,000	-
Projects Fund	51,532	-		(21,389)
Redevelopment Fund	411,280	-	(412,668)	59,788
Surplus Charity Asset Phase2 Fund		1,582,961		(70,788)
Property	4,251	12,227	-	(15,728)
Designated Funds Total	507,457	1,595,188	(413,062)	(48,117)

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Other Funds
Capital Fund	6,736,599	(426,365)
General Fund	33,697	145,530	(166,102)	24,772
Other Funds Total	6,770,296	(280,835)	(166,102)	24,772

Total Unrestricted	7,277,753	1,314,353	(579,164)	(23,345)

Total Funds	7,298,301	1,335,135	(623,846)	-

The purpose of the Restricted Funds is to provide regular funding for the missionaries of the Church.

The purpose of the Designated Funds is to provide for the future anticipated repairs and renewals expenditure associated with the property and equipment of the Church.

Analysis of Net Assets between Funds

	Capital	General	Designated	Specific
	Fund	Fund	Fund	Funds
Tangible Fixed Assets	6,310,234	-	-	-
Cash at Bank	-	15,207	1,641,466	19,993
Other Net Current Assets	-	22,890	-	-
	6,310,234	37,897	1,641,466	19,993

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Further Information

Basis of Preparation

The accounts, incorporating the Statement of Financial Activities (the SOFA), have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities SORP (FRS 102) in accordance with the Financial Reporting Standard applicable in the UK (effective 1[st] January 2015).

Regarding the format of the SOFA, the Charity has availed itself of paragraph 4.12 of the SORP(FRS102) and varied the order in which it presents headings within the income and expenditure sections of SOFA to meet its own presentation needs. Expenditure classifications to reflect the nature of the charity have been selected.

Accounting Convention

The accounts have been prepared under historic cost convention.

Fund Structure

Unrestricted Funds include the Capital Fund, Designated Funds and General Fund.

The Capital Fund is the largest fund and contains all the Church’s fixed assets. For further detail see Note 5 to the Accounts: Tangible Fixed Assets.

Designated Funds are unrestricted amounts which have been put aside at the discretion of the Trustees for a specific purpose and typically cover repairs and renewals of fixed assets. For further detail see Note 9 to the Accounts: Movement in Funds.

Accumulated surpluses in the General Fund are available for use at the discretion of the Trustees in furtherance of the general charitable objectives.

Restricted Funds include the Missionary and Training Funds and are funds subject to specific conditions expressed by donors. Expenditure which meets the relevant criteria is charged to the appropriate restricted fund. At the year end, any fund deficits are eliminated by a transfer from the General Fund, except where the Trustees are of the opinion that such deficits will be eliminated by future committed giving.

Incoming Resources 1

All income is recognised in the SOFA when the Charity is legally entitled to the income, and the amount can be quantified with reasonable accuracy.

Gifts and offerings are voluntary and included in the SOFA when received. Tax recoverable under the Gift Aid scheme is recovered from the tax authorities on a regular basis, and any uncollected tax at the year-end is recognised as accrued income.

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1) Analysis of Income:

DONATIONS AND LEGACIES Voluntary giving ----------unrestricted Gift Aid Tax Claimed Total Restricted gifts-voluntary giving Gift Aid Tax Reclaimed Total Voluntary giving inc gift aid Rental Income Sales proceeds from Sale of surplus charity property Hire of premises and other Bank interest and on Investment Total Income	2024 £ 111,581 17,322 128,902 - 17,327 3,455 ------------- 20,782 149,684 - 12,227 1,570,778 12,127 16,674 1,761,500	2023 £ 94,187 15,929
		101,105
		18,572 3,741 ----------- -- 22,313
		132,418
		5,226 14,671 4,458
		156,773

Legacies:

There were no legacies received in the year then ended.

All legacies are included in the SOFA where probate is granted prior to the year-end and there is reasonable assurance of receipt.

Resources expended

Direct expenditure

Church and employment costs are all direct charitable expenditure and are charged in the accounts in the period in which they are incurred. Expenditure includes attributable VAT which is irrecoverable.

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Support costs are for Ministry and Worship, Education, Youth & Children, and outreach via other organizations.

CHARITABLE ACTIVITIES EXPENDITURE NOTES

SUPPORT COSTS Ministry and Worship Christian Education and Youth Outreach via other organisations TOTAL SUPPORT COSTS Depreciation included with other costs above- memo only DIRECT COSTS AND GRANTS Ministry and Outreach – Direct Outreach and Ministry Christian Education and Youth RESTRICTED Outreach via other organisations TOTAL EXPENDITURE Redevelopment Phase2 Costs Governance costs included above Independent Auditor Total Governance Charges	2024 £ 57,794 23,230 12,671 93,695 0 £ 61,242 7,765 48,476 117,483 412,668 £ 1,680 0 1,680	2023 £ 82,785 27,462 14,980
		125,227
		0
		£ 72,401 9,986 42,046
		249,659
		49,345 £ 700 0
		700

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RECONCILIATION OF COSTS

Church costs Church Costs -Refurbishment Personnel costs Grants payable Depreciation Total costs	89,163 412,668 73,539 48,476 0 623,846	88,473 49,345 60,738 51,103 0
		249,659

Grants payable

Grants are accounted for when the Trustees have accepted an obligation to make the grant. The grants are made according to the Charities grant policy approved by the trustees. The grants are given as outreach via other organisations.

Recognition of Liabilities

Liabilities are recognised when the Church is under a constructive obligation to make a transfer of value.

Tangible fixed assets are capitalised at cost or revaluation. No depreciation is charged on freeholds as the market is more than £5 M are capitalised and included at cost.

Depreciation is, on a straight-line basis, as follows:	Freehold land and buildings	Freehold land and buildings
nil
	Other fixed assets	10 years (10%)

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TANGIBLE FIXED ASSETS
Freehold
Fixtures
Land and
and
fittings
Buildings
20
£
£
Valuation 1stJanuary 2024
7,471,072
264,213
Additions, Disposals at cost
(433,235)
6,870
Cost of Valuation as at 31stDecember 2024
7,037,837
271,083
Cumulative Depreciation 1stJanuary 2024
(738,585)
(260,101)
Charge for the year
-
(0)
Cumulative Depreciation 31stDecember 2024
(738,585)
(260,101)
Net Book Value 31stDecember 2024
6,299,252
10,982
Net Book Value 31stDecember 2023
6,372,487
4,112
VALUATIONSas at 31stDec 2024 based on Insurance
Chapel, 205,207 Trinity Road SW17 7HH Freehold
Manse, 6 Magdalen Road SW18 3NP
TOTAL
Chapel and 207 Trinity Road Contents
6 Magdalen Road SW18 3NP, Contents
TOTAL
Total

Total
2024
£
7,735,285
(426,635)

7,308,920
(998,686)
(0)
(998,686)
6,310,324
6,736,599
7,037,837
0
7,037,837
271,083
0
271,083
7,308,920

Page 24 of 25

TANGIBLE FIXED ASSETS Freehold Fixtures Land and and fittings Buildings £ £ Valuation 1stJanuary 2023 7,243,830 285,320 Additions, Disposals at cost 227,242 (21,107) Cost of Valuation as at 31stDecember 2023 7,471,072 264,213 Cumulative Depreciation 1stJanuary 2023 (738,585) (260,101) Charge for the year 0 0 Cumulative Depreciation 31stDecember 2023 (738,585) (260,101) Net Book Value 31stDecember 2023 6,732,487 4,112 Net Book Value 31stDecember 2022 6,505,245 25,219 VALUATIONSas at 31stDec 2023 based on Insurance Chapel, 205,207 Trinity Road SW17 7HH Freehold Manse, 6 Magdalen Road SW18 3NP Freehold TOTAL Chapel and 207 Trinity Road Contents 6 Magdalen Road SW18 3NP, Contents TOTAL Total	Total 2023 £ 7,529,150 206,135 7,735,285 (998,686) 0 (998,686) 6,736,599 6,530,464 6,859,467 611,605
	7,471,072
	264,213 0
	271,083

	7,735,285

Pensions

The Church continues to contribute to the personal pension schemes of 4 of its employees as per their employment agreements and contributions are charged to the SOFA as they become payable. The church also has workplace pension with NEST and makes contributions to it accordingly.

Details are contained in Note 12 to the Accounts: Employment Costs .

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