Sevenoaks Gospel Trust
Company Registration Number 11371960
Charity Registration Number 1179316
Report and Accounts
Year ended 30 June 2023
Stewardship
AttivÈ&enertssity
1 Lamb's Passage. London EC1Y 8AB
www.slawardship.org.uk

SEVENOAKS GOSPEL TRUST
COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023
Trustees
Jeremy Marshall (died 13 August 20231
Paul Batchelor
Deborah Drury
Gavin Watson
Mark Harding
John Rees lappointed 30 August 20221
Michelle Reid lappointed 31 October 20231
Company Se¢retary
Deborah Drury
Key Staff
None
Govemlng Document
Memorandum and Articles of Association
incorporated dsted 16 May 2018
Company Reyi$tration Number
11371960
Charity Registration Number
1179316
Principal Addre88 & Registered Office
10 Queen Street Place
London
EC4R 1 BE
Independent Examiner
Arthie McDowall BA CA
Stewardship
1 Lamb's Passage
London
EC1Y 8AB
Bankers
Barclays Bank PLC
Contents
Company Information
Trustee5' Annual Report
Independent Examine¢s Report
Statement of Financial Activities
Balance Sheet
Cashflow Statement
Notes to the A¢¢ounl$
Detailed Statement of Financi81 Activities Mrith Comparatives
Page
2-6
10-11
12-17
18
Page 1

SEVENOAKS GOSPEL TRUST
TRUSTEES. ANNUAL REPORT
{INCORPORATING DIRECTORS, REPORT)
FOR THE YEAR ENDED 30 JUNE 2023
The trustees, who are the charity's directors for the purposes of company law, have pleasure in
submilling the Report and Accounts for the year.
Who we are
Sevenoaks Gospel Trust wa5 incorporated as a Company limited by guarantee on 21 May 2018 and
registered as a Charity in England and Wales on 24 July 2018 under Charity number 1179316 with its
registered office al 10 Queen Street Pla￿, London EC4R 1 BE. The purpose of the charity, as sel out
in ils Articles of Association IArticle 2.11, 15 "to advance the evangelical Christian faith, including Ibut
without limitationl by providing grants or other funding to, and making available propety for use by,
churches and other Christian charities or groups in particular in the Sevenoaks area that are in
sympathy with the Ststemenl of Faith adopted by the charity. That Slalement of Faith can be found on
our website Iwww.sevenoaksgospeltrust.orgl. It is intended that Sevenoaks Gospel Trust will provide a
vehicle lo support Christl8n ministry 8nd mission in a way that is faithful lo orthodox biblical leaching,
regardless of any changes in fundamental doctrine within the Church of England or any other Christian
denomination.
Activities during th8 year
Our fifth year of operation has been a busy one. with a¢livily on the grant making, fund raising and
property acquisition fronts. We have continued lo make available 23 Beech Road lo Sl Nicholas
Church, Sevenoaks under the lease we entered into with il in 2020. The church used the flats for
ministry accommodation and for sub-letting on a commercial basis for short periods when not required
for ministry purposes.
Details of our fundraising, propety acquisition and grant making activities are sel out in their
respective sections below.
Last year we reported that we were in discussion with Sl Nicholas Church with a view lo agreeing
Memorandum of Understanding. We are pleased to report that the Memorandum was entered into in
early 2023. 11 reflects the close cooperation intended be￿een the Trust and the church for the future
and sets out the likely nature of the calls by the church for grant funding or property purchase and the
facililalion of communication to the church family about the work of the Trust.
The flow of approaches for advice has increased from churches considering the eslablishmenl of a
trust to facilitate the owning of properties lo be used for church purposes. The current slate of
discussions on marriage and sexuality matters within the Church of England has no doubl contributed
to this. We have been encouraged that our experience is proving helpful lo others.
Our fourth annual general meeting was held on 22 November 2022 and was attended by all but one of
the trustees and by all the non-truslee members of the charitable company Ithe members being the five
trustees together with Rev Anthony Bewes, Rev Joe Dent and Mrs Naomi de Grey-warterl. As always,
we benefited from the perspectives given by the non-IrLJStee members.
Page 2

SEVENOAKS GOSPEL TRUST
TRUSTEES. ANNUAL REPORT
{INCORPORATING DIRECTORS, REPORT)
FOR THE YEAR ENDED 30 JUNE 2023
Fundraising
During the course of the year, St Nicholas Church asked us to consider acquiring a house that would
be suitable for a congregational pastor of the church, with a view to that house being leased lo the
¢hur¢h. We were clear Ihst this presented a real opportunity lo support gospel ministry in the
Sevenoaks area. Although we already had wnsiderable sums available as a result of the past
generosity of supporters, it was necessary lo raise substantial additional funds. Working with the
¢hur¢h, we launched a fundraising appeal in Janusry and are delighted lo report that this resulted in
giving of more than £500.000. We are immensely grateful lo God for His provision and lo the church
family for their support.
Acquisition of 41 Wickenden Road
We are grateful lo God not only for the necessary finances but also for simultaneously making
available a property within our pri￿ range that will be well suited to a Congregational pastor and his
family. Vve completed on the purchase of 41 Wickenden Road in June and immediately sel about the
necessary refurbishment work. We expect that work lo be completed in Septernber this year,
whereupon we propose to enter into a lease of the property to St Nicholas Church for an Initial period
of five years. We understand that the house wll be used to provide accommodation for
Income
We are pleased lo report that, during the course of the financial year, we received donations lotalling
£632,704, largely as a result of the fundraising appeal mentioned above. Several large one-off gifts
were made and a number of donors have sel up arrangements for regular giving. Our only other
sources of income have been rent payable by St Nicholas Church under the lease of 23 Beech Road
and bank interest.
Grant maklng actlvlty
We made one grant during the course of the year. This w8s a grant of £10,000 lo Sl Nicholas Church
to enable the purchase of new chairs for St Nicholas@Lady Boswell's. Their e￿stIng chairs were
increasingly inadequate and did not provide for a welcoming environment.
Expendlture
Our lotsl expenditure for the year amounted lo £16,728 including the grant mentioned above. The
purchase price of 41 Wickenden Road was £720,000 and we had spent £10,786 in fees and costs
associated with the purchase by year end, all of which has been eapilalised. We expect refurbishment
costs of the new property to be in the region of £100,000.
Reserves
The Iruslees reviewed the Trust'5 Reserves Policy during the year and concluded that our policy
should be to hold a minimum of £50,000 in reserve lan increase from £10,000) in light of the potential
increase in financial responsibilities arising from the acquisition of a new property. The yearend net
current assets were £245,316, all of which was unreslricled.
Page 3

SEVENOAKS GOSPEL TRUST
TRUSTEES. ANNUAL REPORT
{INCORPORATING DIRECTORS, REPORT)
FOR THE YEAR ENDED 30 JUNE 2023
Risk8
The Risk Register attempts lo sel out a comprehensive assessment of the risks lo which the Trust is
exposed. These are analysed according to likelihood of occurrence and potential impact, should they
malerialise. We have analysed the most significant risks as".
- A material change lo applicable government policy or legal or regulatory environment which might
inhibit or restrict our activities. We will be mniloring the public policy, legal and regulatory
environments and will obtain expert advice as necessary.
Reputational damage resulting from adverse publicity regarding the purposes and activities of the
Trust. While unlikely, we aim to miligale the risk by monitoring public comment about the Trust or
matters that may affect the Trust's a￿1VitieS and will be prepared lo respond as necessary.
Legal exposure due to a Conflict between the Trust's Christian convictions and English law. Although
unlikely. we aim lo monitor the applicable legal environment and lake advice as necessary.
A health and safely or environmental risk arising out of our ownership of property assets. This will be
mitigated by monitoring and complying with health and safety standards, maintaining appropriate
records and taking out suitable insurance cover.
Trustees
The Articles of Association set out the procedures for appointment and retirement of trustees. John
Rees joined as a Iruslee al the end of August 2022. The other trustees continue to be Mark Harding
(Chairman), Deborah Drury (Company Secrelaryl, Paul Balchelor, Jeremy Marshall and Gavin Walson.
One third of trustees are subject lo retirement by rotation at each annual general meeting, but are
eligible for reélection. At the 2022 annual general meeting, Deborah Drury and Mark Harding retired
and were re-appointed. Trustees may be appointed by ordinary resolution of the company or by a
decision of the trustees themselves.
Responsibility for setting policy and for making operating decisions rests with the trustees who meet
regularly to monitor the activities of the charity. All activities of the charity are implemented by the
trustees themselves, who give their lime voluntarily wilhoul receiving any recompense from the charity.
Achievements and Perfomiance and Public Benefit
Having regard to the purpose of Sevenoaks Gospel Trust as set out above, we believe that our
activities during the year have contributed significantly lo evangelical Christian ministry in the
Sevenoaks area. The lease of 23 Beech Road provides Sl Nicholas Church with very cost effective
and flexible accommodation, together with the opportunity lo raise additional rental funds for the
church's general purposes where the property is not immediately required for staff housing.
Page 4

SEVENOAKS GOSPEL TRUST
TRUSTEES. ANNUAL REPORT
{INCORPORATING DIRECTORS, REPORT)
FOR THE YEAR ENDED 30 JUNE 2023
A¢hievement8 and Perfomance and Public Benefit {continuedl
on￿ leased to St Nicholas Church and occupied by
church's ministry
for the church.
41 Wickenden Road will enable the
on terms that will also be cost effective
The gr8nl made to St Nicholas Church enabled il lo replace chairs at the Lady Boswell's congregation
that were no longer fil for purpose. This has enhan￿d their ability lo reach the community in that part
of Sevenoaks by providing a more welcoming environment.
The trustees have had regard lo the Charity Commission's guidance on public benefit.
Plans for the future
The charity intends lo pursue its current approach lo supporting gospel ministry in the Sevenoaks area.
This will principally be by continuing lo make available to St Nicholas church the properties it owns to
enable the housing of ministry stsff. If called upon to do so, il will consider the acquisition of further
properties lo support gospel ministry in the area. This may require further fund raising, whether by way
of appeal for gifts or by borrowing commercially. It will in addition support such ministry by considering
making grants lo Sl Nicholas Church or any other applicant where such grants meet ils grant making
criteria.
Responsibilities of trustees under company law
The directors are responsible for preparing the trustees, annual report and the financial statements in
accordance with applicable law and United Kingdom Accounting Standards Iunited Kingdom Generally
Accepted Accounting Praclicel.
Company law requires the trustees lo prepare financial stslemenls for each financial year which give a
true and fair view of the state of the affairs of the charitable company as at the balance sheet date and
of its incoming resources and application of resources, including income and expenditure, for the
financial year. In preparing these financial ststemenls. the trustees are required lo..
1. select suitable accounting policies and apply them consistently.,
2. observe the methods and principles in the Charities SORP.,
3. make judgements and estimates that are reasonable and pnjdent..
4. stsle whether the applicable accounting standards have been followed, subject to any material
departures disclosed and explained in the financial stslemenls., and
5. prepare the financial statements on a going concern basis unless il is inappropriate to presume
that the charity will continue in operation.
Page 5

SEVENOAKS GOSPEL TRUST
TRUSTEES. ANNUAL REPORT
{INCORPORATING DIRECTORS. REPORTI
FOR THE YEAR ENDED 30 JUNE 2023
Re8pon8ibilitie8 of trustee8 under company law Icontinuedl
The trustees are responsible for keeping proper accounting records that disclose with reasonable
ac¢ura¢y st any lime the financial position of the Charitable company and enable them lo ensure that
the financial stsletrenls comply with the Companies Act 2006. They are also responsible for
safeguarding the assets of the charitable company and hence for taking reasonable steps for the
prevention and detection of fraud and other irregularities.
Approval
This report. which has been prepared in accordance with the provisions of the Companies Act 2006
relating lo small companies, was approved by the trustees and signed on their behalf by..
MVL
MARK HARDING
Dale.. 4 December 2023
Page 6

INDEPENDENT EXAMINER'S REPORT
TO THE TRLISTEES OF
SEVENOAKS GOSPEL TRUST
I'the Company'l
I report lo the charity trustees on my examination of the accounts of the Company for the year ended 30
June 2023 on p8ges 8 to 18 following. which have tr￿en prepared on the basis of the actounling policies
set out on pages 12 to 13.
Responsibilities and basis of ￿port
As the d)arily S trustees of the Company land also Its dire¢lors for the purposes of Company lawl you are
responsible for the preparation of the a¢¢ounls in accordan￿ wth the reqU1￿ments of the Companies Act
20061'the 20C6 Acl'l.
Having satisfied rnysew that the accounts of the Company are not required lo be audited under Part 18 of
the 2006 Act and are eligi￿8 for ind8pendent examination, I r&port in resp8Ct of my examination of your
charity's accounts as c2rried Dut und8r section 145 of the Charities Act 2011 1.the 2011 Act'l. In carrying
out my examination I have followed the Directions given by the Charity Commission under se¢lion 145151
Ibl of the 2011 Act.
Independent examiner's statement
Since the Company's gross income 8xc8eded £250,000 your examiner musl b8 8 m8rnb8r of a body listed
in section 145 of the 2011 Act. I confirm that l am qualified to undertake th& examination because l am a
member of the Institute of charte￿ A¢¢ountsnls of S¢otland, whi¢h is one of the listed bodies.
I have completed my examination. I confim that no mattets have ￿rne to my attention in conne¢tion wth
the exarnination giving Tne cause to believe".
1. accounting records were not kept in respect of the Company as reqUi￿d by section 386 tsf the 2006 Act,
or
2. the a¢¢ounts do not a¢¢ord with those records." or
3. the accounts do not comply with the accounting requirements of section 3% of the 20W Act other than
any ￿quIrement that the accounts give a'true and fairf view which is not a matter considered as part of an
independent examination,. or
4. the accounts have not been pr&pared In aceordanee with the methods and principles of the Statement of
Recomm&nded Practits for accounting and reporting by charities applicable lo charitiès pr&paring thèir
accounts in accordan￿ with the Financial Reporting Standard applicable in the UK and Republic of Ireland
IFRS 1021.
I have no concern8 and have come across no other matters In connection with the ex8min8tion to which
attention should be drawn In this report in order to enable a proper understanding of thè accounts lo be
reathed.
Arthie McDowall 8A CA
Institute of Chartered Accountants of Scodand
Stew8rdship
1 Lamb'8 Pa88age
Londo
EC1Y 8AB
Dale". 14 December 2023
Page 7

SEVENOAKS GOSPEL TRUST
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 30 JUNE 2023
Total
Funds
2023
Total
Funds
2022
Unrestricted
Funds
Restricted
Funds
Note
INCOME AND ENDOWMENTS FROM:
Donations and legaoies
Charitable activities
Investments
632,704
16,231
2,936
632,704
1S.231
2,936
75.479
15,266
44
Total income and endowments
651,871
651,871
90,789
EXPENDITURE ON..
Charitable activities
16,728
16,728
16,684
Total expenditure
16,728
16.728
16.684
Net incomellexpenditurel
635,142
635,142
74,105
Transfern between funds
12
Net movement in fvnds
635,142
635,142
74,105
Reconciliation of funds..
Total funds brought forward
833,603
833,603
759,498
Total funds carrf8d fO￿ard
12
1,468,746
1,468,746
833,603
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing operations.
The statement of financial activrties also complies with the requirements for an income and expenditure account
required by the Companies Act 2006.
The notes on page 12-17 form part ofthese accounts.
Page 8

SEVENOAKS GOSPEL TRUST
BALANCE SHEET
AS AT 30 JUNE 2023
Total
Funds
2023
Total
Unrestr￿e￿
Funds
Reslrlcted
Funds
2022
Note
FfxED ASSETS
Tangibleassets
1 223 430
l L3.430
492.644
1.223,430
1,223,430
492.644
CLIRRENT ASSETS
Debtors
Cash al bank and in I￿nd
529
342.051
24S 966
246.966
248.316
248.316
342.580
CREDrroRS.. Amounts fallng
duewfthln one year
13.0001
Net currenta5sets I lllabllttl￿l
245,316
245.318
340.960
Totsi 888•ts ¢vttont li•bilitivJ
1.468,746
1,468,746
833.603
TOTAL NET ASSETS
1.468,746
1,468.746
833.603
FUND BALANCES
Unrestrided Funds
General fut￿$
Desvjnaled fvnds
1.46U,74fj
1,468,746
33.603
1.468,746
1,468.746
833.e03
Fund$
1.468,746
1,468.746
833.e03
The ¢harrt8bk Company 1$ to exeMp￿Th from 8udll under Se¢llon 477 01 Comp8nle$ Att2006 lor ye8rended 30
June 2023
The membprs have not required the cornpany to obtain an audit of Ils finanGHI statempnts for the year ended 30 June 2023
In accord$n¢e with Section 47fj of tho Comp¥nios Ad 2006 hmvef, in wth S8dion 145 of the Ch¥riti*$ A¢t
2011. the accounts have bpen examined by an independent examiner and their report has been Induded ￿ these
linancial S￿t￿￿￿ntS.
Thè dire¢￿[$ (V￿ $r¢ th¢ ¢h8ritsbb ¢0m￿nIS Iru$t*$$ for th¥ putpos¥s of ¢harty lawl 8¢knoN%4¥dg* their responsibl￿*$ for".
lal ensuring that the Charitab￿ company keeps accounti￿ recoTds wh￿h compty with Seclions 386 and 387 ollhe Companies
Act 2006 and
Ibl preparjng finanual slalemenls vthich give a atwj lai view ol the stste of affairs ol the Cha[rtab￿ company as at the end
ol each fI￿ncl31 year and Df ts net Income Dr ekpendilure fDr each financ￿1 year in accordance vthh the reqU1￿ments of
Sections 394 395 thich Dlhetwise (Dmpty wrth requiretnpnts Df the Cotnpanies Act 2006 relabng to financ￿1
slatemenls. ao faras £ppl￿b￿ to the charrtable company.
The fina￿la1 statements have been prepared In ac￿[dan￿ the pro￿1610￿$ of Part 15 of the compan￿SAct 2008 rekling to
$m$ll ¢omp8nie$.
Th&tinanty81 $tsl*m¥ntsw*re approved by ￿ Bo¥rd ol Dte¢tors andw8r* signed on IL¥ b*h¥W by".
M￿￿ H¢Lr
MARK HARDING
Date" 4 December 2023
Company nutnber.
11371960
Charrty number.
1179316
The notes on page 12.17 forrn part ol these accounts.
Page 9

SEVENOAKS GOSPEL TRUST
FOR THE YEAR ENDED 30 JUNE 2023
CASH FLOWSTATEMENT
Note
2023
2022
Cash flows from opgrating actNitigs'.
NetC88hprovided by/{used in} operating activities
632,765
38,878
Cash flows from Inv68tlng actlvltlo8'.
tliwdfrnds, Inte￿$1 8nd rants from investments
Purthase of property, plant and equipment
Netcé$hpmvided by/lu8ed in} inweslin9 activities
2,938
1730,786
1727,8501
44
Ch8nge ¢aslJ 8ndequlv81ents In the reportlng perfod
195,0851
38,923
ash and equlval8nts at th8 boglnnlng of thg y8ar
342,051
303,128
Chongo In cash and equlvohnt8 duo to oxchange rats movoments
Cash andcash equivalents at the end of theyear
246,966
342,051
Analy818 of chang88 111 n8t dobt..
Al Start of
year
At end of
year
Ca5h-flows
CBsh
342,051
195.0851
246,966
Total net funds I Idebti
342,051
195,0851
246,966
Page10

SEVENOAKS GOSPEL TRUST
FOR THE YEAR ENDED 30 JUNE 2023
NOTES TO THE CASH FLOWSTATEMENT
Note a.. Re¢on¢lllatlon of net In¢omellexp¢ndlturel to net ush flow from operotlng a¢tMtfifr$
2023
2022
Netlncome/(•xpendlturn) forihe reportln¥porlod(aspor the siatementof fln4ncl•l
acllvltles)
635,142
74,105
Adlu8tm•tht8 foi..
r*wdends. interest and rents from investments
Ilncreaselldecrease in debtors
Increaselldecre8sel In cEditors
12,9361
12421
134,9401
1,380
Netcashprovided bylused in) operating activities
632,765
38,878
Note b= Anatysl¥ of ¢ash and ¢a$h equfvalents
2023
2022
Cash at bank with immediate acces6
246,966
342,051
Totsi ¢a8h and ush oqulvalants
246,966
342,051
Page11

SEVENOAKS GOSPEL TRUST
NOTES TO THE ACCOUNTS
FOR TrIE YEAR ENDED 30 JUNE 2023
Statuiory Information
TrE tharity is a charitable company limited by guaranlee arKI is incotporaled in the Unw Kirudom. The company's registered runber
and registered offi* address can be foLrt on Company Inf￿Mation page.
Accountlng Pollcl88
se financial stslements are prepared on a going concem basis. uNlerltE historical Ix)st convention.
TrEse finanual statements have been prepare(l in accordance with trE "Slalement of Recommended Practice.. Accounti￿ and
Reporting by Charities preparing t￿1[ accolrts in accordan* wlh the Financial Reportiw Slandard appIl￿b￿ in the UK aNI Republic of
Ireland IFRS 1021 I'IPE Charitie8 SORP'I, With the Financial Reporting Standard applic8bk in United Kingdom and Republic of
Ireland I'FRS 1021, with CornpanEs Aci 2006 and with the CharilEs Aci 2011. The charity tneets the definition of a public benefit
entity as sel Qlrt in FRS 102.
prin￿p￿S adopted in the prepar&tion of financial ststements are set oui bebw.
trustees (who are thB Charitab￿ cotnpanls directots for the p￿oSeS of company lawl have assessed YhEther the u%e of the going
cor￿￿ basis is appropriate arKI have considered possible events or conditions that mvjhl cast signrficant doubl on Ihe ability of the
charity lo continLE as a going con￿M. The trustees have rnade this asEessmenl for a period of al ￿3st one year from the dale of
8ppmval of the financial slalements. In particu18r trE Iru8tee8 have considered the ch8riiy's forecasts 8nd pmiection8 and the pos*ble
implications SFwju￿ projected i[￿0￿e and l or expenditure vary unexppcledly. The trustees have cOncl￿ed that there is 8 reasonable
expectation that the charity has adequate resources lo cotrtinuB lo operate for the foreseeab￿ fLrture. Thp charity therefore continues to
8dopl the going Co￿eM b8ws in prepariru its financial slalemen
Income Ir￿u01ng in%Eslmenl IT￿oMe is recogni*d in period in whKh the charity becomes entit￿￿ lo receipt. amount receivatAe
can be measLYed with reasonable certainty, re*ipl is probabk. For the most part. Ir￿Me is gwErally recognised il
received. Income Is onty deferred whÈn chanty has io fuWIl co￿rtIOnS before ￿cOMi￿ entil￿d to Il orwhère the donor has ycrfied
Ihatthe income is lo expended in a future period.
Income frotn donations arKI ￿gaCleS indudes."
il Recoverab￿ gift aid. This is rÈcognised when the reL8led donalh)n ￿ received. Gift aid th81 has ￿1 been recovered by thè ba18n(È
sheet date ￿ irduded as a debtor.
ill chatity reSes on volunteers lo catry tnany of its adivibes. However. in acCOrdar￿ ￿th SORP, valup of these
ces has not been In￿ude￿ in ItE5e finanlial slalements as they ￿nn01 be relrabty rneasured.
iiil Legacies Income from leg8oies is recognised when a distribution is received from the estate (￿. rfe8dier, vhEn trE otharity has been
nolified Ihal 8 dislribulion will be made and the 8mount receivable can be measured reliably.
Irwestment income represents ir￿orne generale(I by the charity's asse15 armj indudes income from bank interest.
charity has18ken the wew that il h8s only 0￿ charilabk admty, namety the advarcement of the Christi&n faith. and all income from
don81ion8. legaoès and chaffttab￿ actmtses Is in reyct of this or* activity.
EXpe￿iL￿e, Irduding Irrecoverable VAT. is reCogn￿Ed vthen Il is Ir￿rred or, If earfier. when a ￿9￿1 or con81nKtwe oblvjalion for 8
payment aris8s prO￿lded that Il Is PrOb8b￿ that Éellkmenl wil be r8quir8d and the amouni of the oblyalion can be m8asur8d reliably.
TrE charity makes grants to otrEr inslituborE arKI individua15 to further its tharilable objedi¥ES. Gratts p3yable are recognised as
cor6lructive obligations arise, which is gerer81ty when the chanty expresses a commitment lo recipient that can be me8sured reliab
8nd I￿n only lo the Èxtent that aw conditions associaied with the grant are oul&de of conlrd of IhÈ ch8nty.
cost of raisiry funds is ￿t s￿n￿lC3nt ar￿ has not been separatety disdosed.
TrE CharilEs SQRP requires thatities with income over £500.000 to allocate costs to various adli￿lIeS urKlertaken by the chaTity.
TrE nallre of trE work of the charityl is conwdered lo be so integrated trpt the core chatitaNe acti1￿ty costs are conwdere(I lo be for trE
one activity.
Page 12

SEVENOAKS GOSPEL TRUST
NOTES TO THE ACCOUNTS
FOR TrIE YEAR ENDED 30 JUNE 2023
Accounting Policie8 l¢ontinu•dl
Govetnance costs. whith are irduded in experKliture on charilabk activilEs but are idenlrfied separalety in the notes to the account5,
inclLKles costs assoaaled wrth the 1￿Jepe￿nt examinalion of IIE financial slalemenls. Com￿la￿e with Co￿lI1Ut10n￿l a￿j stalutory
requirements arKJ any ot￿r ÈxperKJiturÈ incurred on IhÈ Strateg￿ management of chanly.
General funds are unrestricted funds which are available for use at Ihe discretion of the tru5tee5 in furttrErar￿ of the gerEral objectwes
of the charity. Designated fut￿5 comprise unrestricted funds that h4ve been set aside by ItrE trustees for particular PLYposes. Reslrickd
fu￿$ are donalK)ns %¥t)Ich are lo be used in accordan* with spe￿riC restrictions imposed by do￿￿., they Indude donations retrived
from appeals for ￿tifIC activ￿e$ or projects.
Items purchased or don81ed for rthariV8 own usè are c8pitalised whèn cost of purchased items. or the fair ¥81ue of donated
itetns. is tnore than £1.000 and the item is e)pecled lo i￿nefit thB charity over more than one accounting period. Depreaalion is charged
on a slr3ight line baws so as lo write down ItE value of each asset lo its eslYllale(I resKlual value lif 8nyl over its e%pected usefLI
econom￿ life. To achieve this objective the folo¥¥ing rates ol depreciation are charged..
Freèhts￿ Land
Freehts￿ buildings
Equipment
Is notdèpreciated (be¢aL￿e it is not Consumed by u%Èl
Arè not depreciated Isee areas ofiudgment ￿lOw)
OvÈr 3 to 7 years
ca￿ing v8kJes of laroible fNed assets are re￿IEWed for impairment i) peri(K1s when events or charoes In cirwmsl8ntrs indicate th81
the carrying value may ￿1 be recoverab￿.
company is a registered chanly., It has t8ken advaMagÈ of v8ri0￿ r@￿ets from tax8ti0n available lo chant￿S and rK) lax 18 payable
on the charity's i[￿Orne.
gl Financial insttunents
chariV8 finarrial assets 8nd financial liabilities all qualify 88 b8sic fin8rKaal instr￿ents, 88 defirEd by FRS102. Except for roans,
creditors and debtots are measured 8t their expeded sett￿ment value Inomalty the amount of cash thai the charity expects lo pay or
re￿1ve1. TFE charity recognises liabilities for the principal of those loarE Ihat remain5 OLtstsnding at the year end li.e. the liabililv&s
exdude aryy interest chargeable on trE bans in future ye3rsl.
In preparir¥J finanaal statements certainjudgetnenls. e*imales ar￿ assumptions ha¥e lo be tnade that affect the amoutrts rec￿￿￿ed in
the finaDoJal slalemenls. The Iwstees conwllerthe following to be s1gnrfi￿nl'.
i) TrE IrL￿lee8 belEve that trE residential pmperties held for f*arilaNe purpose8 have a high re8k1ual value wthich removes the rEed
fordepreciation to bè charged.
D¢)natior6 and legacie5
2023
2022
Dor￿10￿5 afKJ gratrts recewab
632,704
632,704
7S.479
75.479
lrtomè from charitable activities
2023
2022
Rental pmperiy income
16,231
16.231
15,266
15.266
Page 13

SEVENOAKS GOSPEL TRUST
NOTES TO THE ACCOUNTS
FOR TrIE YEAR ENDED 30 JUNE 2023
Inve5tm8nt incomo
2023
2022
Bank inletest
2,936
2,936
Charitsble exppndiiure
2023
2022
Costs Incurrèd dlrèctly on actlvfjtlos
Grants payatAe Inole 8cl
10.000
12.500
10,000
12,500
costs incurred on support& admirristration
Govetnance costs
Indepe￿ent exHmineVs fee
Subscnptiorts and professional fees
Insuran
Property maintenance
Bank ch8rge8 and other c0818
Ot￿r admini81ration expenses
3,000
663
2,774
1,620
878
9(M)
137
6,728
4,184
Totsl 8xpgndltur&
16,728
16,684
TrE fee payable lo the independent exarllifEr for preparing and examining the accounts wa5 £3.000 12022". £1,6201.' in addition the
charity paid £6912022.. £nill to Stewardship for consLllancy senriTr5
Grants payablo
I￿titutionS
IndivKluals
2023
Grants for churctEs
10,000
10,000
10.000
10,000
TrE comparati￿5 fortFE previou5yearare as follow5.
IndivNJuals
2022
Grants for churcFEs
12,500
12,500
12.SOO
12.500
TrE prinupal grants to In51itulions comprised.
2023
2022
PCC of Sl Nichdas, Sevenoaks
10,000
10,000
12,500
12.SOO
Page 14

SEVENOAKS GOSPEL TRUST
NOTES TO THE ACCOUNTS
FOR TrIE YEAR ENDED 30 JUNE 2023
Analysis of stsff costs, th• costof koy managemont ￿¥Son1*1 and trusteo remun8ration
No Itustees re￿iVed employtnetrt berEfts in eilhertrE C￿￿ent or pre￿dIng year.
Tangible fixed 886èts
Freehdd
Property
Total
2023
Cost
AI 1 JLIY 2022
Additions
Gains I Ilossesl on revaluation
Disp05a
AI 30 June 2023
492,644
730,786
492,644
730,786
1,223,430
1,223,430
Accumu18ted depreciqlion
Al 1 July 2022
Char9e for the year
Eliminated on disposal
AI 30 June 2023
Net bogk value
AI 30 June 2023
1,223,430
1,223,430
AI 30 June 2022
492,644
492,644
During the year to 30 June 2020 a resM1ential property123 Beech Road Seven08k81 was purch88ed and is In￿￿ed In assets al
cost. inclthro acquisilK)n arKJ refurbishme￿ costs. Dunng the most finarKxal year, a furtPÈr rÈsidÈnt181 pro￿rty(41 WK*erKJen Road,
Sevenoaksl was purchased and 15 undergoing refurbishtnenl wotk5. vthich will be cornpleled in the tExI 12 montrE.
D?btors
2023
2022
Falling Y￿thin one year=
Insurance rent receivable
OtrEr deblLKS
1,351
144
529
1,351
10 Cash at Bank In Ha
2023
2022
Cash al bar* with immediale access
246,966
246,966
342,051
342,051
Page 15

SEVENOAKS GOSPEL TRUST
NOTES TO THE ACCOUNTS
FOR TrIE YEAR ENDED 30 JUNE 2023
11 Creditors.. liabilities falling due wf(hin ono y8ar
2023
2022
Acc[u￿S
3,000
3,000
1,620
1,620
12 Fund5
Duriry the yeartFE fflovetnen15 in IFE dptivsfunds were as fdlow5".
Openir
balar
2023
Incoming
resources
Outgoir
resources
Transfers
in the year
Gains and
clo￿ng
balan
2023
sses
2023
2023
2023
2023
Dewialed Funds
Property Appeal Fund
450,000
1450,0001
450,000
1450,0001
General Unrestricted Funds
833,603
201,871
116,7281
450,000
1,468,746
Total Unreslncted Funds
833,603
851,871
118,7281
1,468,746
Aggregate of funds
833,603
651,871
116,7281
1,468,746
transfers refer￿d lo above were m8de for following reasons..
al Transfer from the Property Appeal Fund upon suctrssful CoMp￿tIOn of acqUi￿110n of41 Wic*eThJen Road. Se¥eTh)aks.
Analysis of n8tass8ts by f￿d
TrE assets aTKI liabililES of the wariou5funds were a5 followE'.
Unrestri
GerEral
funds
Dewgnaled
funds
Reslricled
2023
Tangible fixe(l assets
Debtors
Cash al bar* armj in FHrKI
Creditors falliry due witFin onB year
1,223,430
1,351
246,966
13,0001
1,223,430
1,351
246,966
13,0001
1,468,746
1,468,746
In the pre*ious Ye8rt￿ movements in charivs f￿￿8were as follows".
OpÈnit¥J
balame
2022
Incoming
resources
OutyoirvJ
resources
Transfe
in the year
2022
G8ins and
bsses
2022
Ckn%ny
balance
2022
2022
2022
Genet¥l Un*Estricted Funds
759,498
90,789
116,6841
833,603
Aggregate of funds
759,498
90,789
116,6841
833,603
Page 16

SEVENOAKS GOSPEL TRUST
NOTES TO THE ACCOUNTS
FOR TrIE YEAR ENDED 30 JUNE 2023
12 Fund$ It¢)Irtin￿d
Amlysls of n&ta88&ts by fwd
In the pre￿Ou$ ye8r, assèts h'abillies of IhÈ variousfund$ wÈrÈ asfollows".
Unrestnded Funds
GerEral
De￿gnated
funds
funds
Restricted
fLThJs
2022
T8ngiblÈ fixed assets
Debtors
Cash al bank arKJ In harvJ
Creditors falliry due witrin orÈ y&ar
492,644
529
342,051
11,8201
492,644
529
342,051
11,6201
833,603
833,603
13 Tr8n8actlon8 wlth rolatsd partles
Duriry the yeartFE charity
81 re￿IVed don8tions lolalliw £54,701 (2022". £33,430) from related parties (which indLKJÈs trustees, any other member8 of key
man8gement aThJ anyonÈ closety connÈtted to tr*ml.
bl no expenses 12022. £niD were paKJ lo, or for, IhÈ lrttsleÈs.
1S Member5
Each member of company ￿MMitS lo contnbLrte If the charity iSWOLThJ up an amount of £1.
Page 17

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