Sevenoaks Gospel Trust Company Registration Number 11371960 Charity Registration Number 1179316 Report and Accounts Year ended 30 June 2025 Stewardship Aryiveynerosfty 1 Lamb's P8ssa9t. London EC1Y &4B www 8tswardship org uk SEVENOAKS GOSPEL TRUST COMPANY INFORMATION FOR ThE YEAR ENDED 30 JUNE 2025 Paul Batchelor Iresvdned 19 November 20241 Deljorah Dr¢Jry Gawn Watson Mafk HatditYJ John Rets Mthelle Revj Company S•cr6tary MKhello Rebj Gov•rnlng Do¢um•nt Memorandum and of A88ociatK Iricorporated dated 21 May 2018 Company Roglstratlon Numb•r 11371980 Charlty R•gl•tratlon Numb•r 1179316 Prtnclp•l Addr•88 & Rogl•t•r•d Offl cjo Sedub Offica 605 Albert House 2S&XJ Okl Streat Londc EC1V9DD Ind•p•nd•nt Ex•mlner Ar¢h* McDowall &A CA SieNafd8hip 1 Lamb'8 Passage London EC1Y 8AB Banknr• Bar¢Jays Bank PLC Contsnts Company Infomation Trustses. Annual Report Independent Examiners Report Statèrnenl of Financial Activities Balance Sheet Notes lo the A￿oUnts Detsiled Statement of Finartial Athit*s wTrth Comparatives Pag• 24 8-13 14 Page 1 SEVENOAKS GOSPEL TRusr TRUSTEES. ANNUAL REPORT (INCORPORATING DIREcfoRS' TREPORT) FOR THE YEAR ENDED 30 JUNE 2025 The trustees. who are the chariV5 directors for the purposes of company law, have pleasure in submitting the Report and Accounts for the year. Who we are Sevenoaks Gospel Trust was Incorporated as a company limtted by guarantee on 21 May 2018 and registered as a charity in England and Wales on 24 July 2018 under charity number 1179316 wlth Its re8lStered offKe at 10 Queen Street Place, London EC4R IBE. The purpose of the charity, as set out in its Articles of A550ciation IArticle 2.11. is ~to ao%tance the evangelical Chrlstiall faith, Including (but without limitstionl by providing grants or other fundin8 to, and makin8 available property for use by, churches and other Christian tharities or groups in particular in the Sevenoaks area that are in sympathy with the Statement of Faith" adopted by the charity. That ststement of Faith can be found on our website Iwww.sevenoak os It is intended that Sevenoaks Gospel Trust will provide a vehicle to support Christian ministry and mission In a way that Is falthfvl to orthodox biblical teaching, regardless of any changes in fundamental doctrine within the Church of En8land or any other Christian denomination. Artlvltles durlng the year After the property acquisition and refurblshment over the last two financial years, thls yeèr has seen no property acquisition and no 8rant making. The leaseof 23 Beech Road to St Nicholas Church expired durin8 the year and we ￿neWed rt for a further five year period. The church has used the flats for ministry accommodation. We contlnued to make available 41 Wickenden Road to St Nicholas Church under the lease entered into in 2023. It 15 used to house a congre8ational pastor and his family. We have otherwise ftKussed on ensurin8 that any Treces￿ry property maintenance has been carried out and on revlewing and updating our policies and pro￿ureS as appropriate. There has continued to be a flow of approaches for advice from churches conslderlng the establlshment of a trust to facilitate the owning of propertres or the rdisin8 of fiJnds to be used for church purposes. The Cyr￿nt proposals for liturgical and doctrlnal changes regarding marriage and sexuality matters within the Church of England have no doubt contributed to this. We have been encouraged that our experience is proving helptul to others. Our sixth annual general meeting was held on 19 November 2024 and was attended by all the trustees and the non-trustee members of the charitable company (the members beirrg the six trusteestogether with Rev Anthony Bewes, Rev Joe Dent and Mrs Naomi de Grey-warterl. As always, we benefited from the perspectives given by the non-trurtee members. Fund ralsln8 We did not en8age in a specific fundraising campaign during the year. Our plans for future actNlties and associated fundraising are set out below under the heading"Plans forthe future". Income We are pleased to report that, durin8 the course of the financial year, we received donations totalling £ 62,717. Our only other sources of income have been rent payable by St Nicholas Church under the leases of 23 Beech Road and 41 Wickenden Road and bank interest. Page 2 Grant makin8 activity We made no grants durlng the year. ExPendI￿re Ourtotal expenditure for the year amounted to £14.244. ReseNes The trustees revrewed the Trusys Reserves Pollcy during the year and concluded that no change was required. The policy requires a minimum of £50,(XM) to be held in reserve. The year-end cash at bank was £305,670. Rlsk5 The Risk Re8lSter attempts to set out a comprehens1￿ assessment of the risks to which the TrLtst is exposed. These are analysed accordin8 to likelihood of occurrence and potential impact, should they materialise. We have analysed the most Sl8nificant risks as: A material change to applicable government pollcy or legal or regulatory envlronment which might inhibit or restrict our activities. We will be monitoring the public policy, le8al and reguktory environments and will obtain expert advbce as necessary. Reputational damage resulting from adverse publicity re8arding the purposes and attpiities of the Trust. While unlikely, we aim to mitl8ate the risk by monitorin8 public comment aboLrt the Trust or matters that may affect the Trusvs artrvities and will be p￿Pared to respond as necessary. Le8al exposure due to a confllct between the Trust's Chrlsti•n convictlon5 and Engllsh law. Ahhou8h unlikety. we aim to monitor the applicable legal envlronment and take advice as nece55ary. A heatth and safety or env5ronmental rSsk arising Out of our ownershlp of property assets. This wlll be mltl8ated by monitoring and complyin8 Wtth health and safety standard5, maintainin8 approprlate records and takln8 Out suitable Insurance cover. Trustees The Artlcles of Association set out the procedures for appointment and retirement of trustees. One third of trustees are subject to retirement by rotation at each annual general meetin& but are eligible for re*lectlon. At the 2024 annual general meetin& Paul Batchelor and John Rees ￿tired and John wa5 re-appointed. Trustees may be appointed ty ordinary resolution of the company or by a detision of the trustees themselve& The current trustees are Mark Hafdin8 Ichairmanl, Deborah Drury, John Rees. Michelle Rerd and Gavin Watson. Responslbllity for settln8 policy and for maklng operating dec￿lon$ rests wrth the trustees who meet regularly to monitor the arttvities of the charity. All artivitles of the charity are implemented by the trustees them5efves, who 8fve thelr time voluntarily without receNing any recompense from the charity. Athlevements and Perfomiance and PUNIC Benefft Havin8 regard to the purpose of Sevenoaks Gospel Trust asset out above, we believe that ouractivities during the year have contributed Significant￿ to evangelical Christian ministry in the Sevenoaks area. The lease of 23 Beech Road provides St Nicholas Church with very cost effectNe and flexible accommodation. together with the opportunity to ralse additional reFrtal fvnds for the church's 8eneral purp)ses Whe￿ the property is not immediately required for staff housing. Page 3 The lease of 41 Wickenden Road to St Nichola5 Church enables the church's ministry from its church plant at Lady Boswell's School on temis that are also cost effective for the Church. The trustees have had regard to the Charity Commission's 8uidance on public benefrt. Plans forthe I￿Ur* The Trust intend5 to wrsuÈ its Cufrent approach to supporting eospel ministry in the Sevenoaks area. This will principally be by continuing to rnake availab￿ to St Nicholas Church the properties it owns to enable the housing of ministry stsff. During the course of the year, further discussions were held with the Church to facilitate planning for the future. The Church continues to see a need for the possible acquisition of another property in two or three years. when a property currentty used by it will become unavailable. If it were to plant another church in the area, we would like to be in a position to support that ministry. whether by way of housing or contributbon to staffing costs. In either cJ5e, this may require further fund raisin& whether byway of appeal forgiftsor by borrowing commercially. The Trust 11 in addition support gospel ministry in the area by considèring makin8 grants to St Nicholas Church or any other applicant where such 8rants meet our 8rant makin8 criter￿. Responsibilitles of dlrertors under ¢¢)mpany law The directors are responsible for preparin8 the trustees, report and the financial statements in accordance wrth applicable law and United Kingdom Accounting Stsndards Iunlted Kingdom Generally Accepted Accounting Practice). Company law requires the directors to prepare financial statements for each financial year which 8Ne a true and fair view of the stste of the affairs of the charitable company as at the balance sheet date and of its incoming resourcès and ap￿IcatIon of resources, intludin8 income and expenditure, for the finanaal year. In PTeparln8 these financial statements, the dlrectors are requlred to: select suitsble accountin8 policies and appfy thern consLstently• observe the methods and principles in the Charities SORP; make judgements and estlmates that are reasonable and prudent; 4. state whetherthe applicable accountin8 Standards have been foll¢)wed, subject to any material departures disclosed and explained in the financial statements,. and 5. prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in operation. The dirertors are responsible for keepin8 proper accounting records that disc105e with reasonable accuraLy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2CMJ6. They are also responsible for safe8uardin8 the asset5 of the charitable company and hence for tsking ￿aSonab￿ steps for the prevention and detection of fraud and other irre8ular1t￿5. Approval This repo¢ which has been prepared in accordance with the provisrons of the Companies Act 21]]6 relating to small companies. was approved by the trustees and signed on their behalf by: Makk Ilak-lih Mark Harding Date= ott 24, 2025 Page 4 INDEPENDEMf EXAMINER'S REPORT TO THE TRUSTEES OF SEVENOAKS GOSPEL TRUST Ilhe Company'} I report lo the chanty trustee8 on my examination of the accounts of th& Company for the ended 30 June 2025 on pages 7 to 14 fotknving, whKh have been prepared on th6 basis of the accounting policies set out on pagès 9 to 10. ResponslbllltF08 and l)asl$ of rnport As the chantys trustees cl the Company (and also Tts dirKtors for the purposes of Cr￿panY law) you are responsible for the preParat￿n of the accounts in accordance wrth the r&4uirements of the C￿panieS Act 20C611h0 20C6 Act.). Having Satisf￿ myself that the accounts of tha Company are not required lo ba audited under Part 16 of the 20C6 and are eligible for Independent oxaminaiion, I report in resm of my examinalKJn of your Charty's a￿Ount8 as carrnd out under section 145 of the Chan1￿ Act 2011 I'lhe 2011 Act,). In carrw'ng out my examination I have follvh*d the DirOct￿n$ gNon by the Charty Commtssion under Section 145151 Ibl of the 2011 Aot. Indgpendent •xamlnorf• •tatem•nt I h8vg completed my examinat￿. I confimi Ihat r#) matters ¢omo to my attent￿ft in conr*octN)n with the 8xaminalion giving me cause lo bel￿*.. 1. •¢counting record8 were not kept in reswa of the Ccrtnpany as required ty sect•)n 386 of tha 2CK6 Act,. or 2. the accounts do r￿ acc￿d with those rtc)gni88d ift the yw. l kncom8 8nd expenditure d•rN• frc¥n opwakn8. Th• $¢alemeni ol fm8n(i81 actNrties also etynpl￿ wrth Ihe req￿rem&nth tr on Ineome and •xp•nditure account rnquired by the Companies Acl 2c￿. The notes cl) page &13 form port of tw a0￿unIs. Page 6 SEVENOAKS QOSPEL TRUST ALANce SHEET AS AT 30 JUNE 2025 Tolll Fund$ 2025 Tot•1 Funds 2024 Rtstn"c*d Fund8 FIXED ASSETS Tang*￿t 1335,671 1335.671 1.33S.671 1335,671 1 335.871 URRENT￿SET5 Debtors Gash at trAnk •ThJ 10 t.118 218.176 305,670 305.670 300,870 CREovfoRs.. Amount• l•llln9 du• wl¢hln y•¥ 219,295 11,8CQ) 11.8001 11,eooi M•t curr•nt •8••b i Ill•bHllkn•l 303.870 303,870 217.495 TOTAL NEfA98Ef8 1.639.541 1.639,S41 f 553.165 FUND 8ALANCE8 Unrest￿Lled Funds General fundB D#*notod fix 12 1.639.541 1,039.511 1,553,16S 1.639.$41 1.639.$41 1.553,165 Fur￿$ 1.639.541 1.639 541 Th tharit•bk• rJ)rnwny to Seath 477 01 the compan￿ Ara lor lh• ye•r dod 30 June 2025. The n￿MberS have raquknd tr* cLwnpany lo obl8in an •*Jit of rt8 fkn•nuol #thte￿1ts the year ended 30 J￿e 2025 in *Ccrrtan￿ %*lth S¢¢tb)n 476 of lh• Coftynl•• N4t 2￿6 hM¥er. In acuJra•Ke V*i¢h S¢ction 145 of Ihe Ch8ntk*• Act 2011, the •rxfjunts h•wè b¢w •YAmlrnd tyy qn and i￿r induded in Ilme Ana￿￿81 Btaiernnt$. Th• dlr•dorn (M*K) th•ni•bl• tru*M for Il* pwpog•1 of )l•rity l0*) ackno*l8(Sae reSpOr￿ty1111￿ry8 l¥) en￿ring that Iht thath•ble k••ps •tt• t¢¢))rd8 o)mpty vlth SeclKJn¥ 386 and 387 of the Companits Act 20Ce ¥nd Ibl wep8Mg th*ao1 $tslomwl¥ 91￿ a Irue and tsir ¥*wof the •tsle ol •ffaK8 01th• r•rry as al th• ènd af e8¢h fiMnd81 year of tt• n¢t wme or expeThyitwe for ￿(h finandal yetrr m &ccordan¢x ￿ th? requiremerrts of se￿1￿n5 394 ar¥J 395 and ofrrvw ctynpty *lth the wjuirerrents of Ih? Compan￿& Art 20f rel•ling te fpnanclal #talen￿18. 80 tsr as •wkcable lo ￿ L*arn8b* L￿panY. The finind•l Stslewts hwe been wepar•d in 4Lxothnc• the of 15 of Ih• ccm￿nNJs 20C 10 •rnall ¢¥mpankn& The *tatomènt•worÈ WTr•*d tsy tho Bowd •nd ￿ *ned w ** ¢eThwfi by. HARtXNG ott 24, 2025 Company Thjmber. 11371 The NJ¢e8 on page 8-13 form part ollheg¢ a(Lwnts. Charty rwJrrthr. 1179316 Page 7 ¥EVEIIOAKS GOSPEL TRIIST IIOTES TOTHE ￿tOU11T$ FOR Tlf YEAR ENDED ao JUNE 2025 stabrtory lrfom*ibJn Accounting Polkl•¥ ThgS8 flnandal Glatèmonts hrn W8P8red Mi *t(thnce wth the 'Sl•kn*nl ol ReccOnrnend￿ Pr8rtic¥ IwJunllrvJ ar RgporbryJ ty Chartles ther accwnth wrfh the Fmanc4ol R•porf￿a s10nd4￿ appkablw In tho UK and Republ* ol IfelAnd IFRS 1021 fft Charibtrts SORPI. Rerxytw St¥nd•rd apFknbl• In Vnhed ￿TrA0)M 4nd Reputsyc of I￿[￿nd fFRS 10ri, ￿ the Crynpw*8 2011 Tho thartty motrts th8 delnllkjn of r*jl4￿ btnefft en1￿ as ¥•1 t￿t li FRS 102. Th* tru¥te86 (whoar¢ fv ¢h•rrt•t4fr (tsmparrf• the of¢ompany h•ve aMo55od whothortho u8è of th8 ofthe ()l•nty to¢￿t￿* 858 sify'ri tortyn Tr tnJsi88B mwde th￿ 888a8*WI fora ofai one ￿af from Ihe dale ol wrovd oltr• sialwnem. In p*rtKJd8r the tru6*es wnS*je￿ the th•rty8 I￿aSts 8nd P￿￿clI003 tynd the FThat4e thxthj woJ&x•J w*8y&•dfy Th• tru8t0o6 h•ve wndud•J bl It re￿￿￿tA$ (•n t* rM8wreOwth re8wwtAo i¥ wob•bl8. Far fv fflost part. Ir￿*m• i• 9•nw41ty racogni vthen tec•v8d In(*Jm8 li onty defermd wh•n Iho c* hu t* b•kn •ntW to * or wthern th trom dwotrJn8 *Kludes. 11 Rac0v￿bkn Qrf18￿ This th rnrr4nM￿ thè r*J IB Gm •lJ b••n r•>Mr•d by lh• b&br￿* sheel li m&*J•J # • d•t4ty. 111 LogK*•. InccrfM fnm Wi•6 is r•))an•J Wh￿ a ￿T4¢d Irun i*è •&t*t• or, Ir 8srfbBf. the th•rty hfis been ilwt adlthtvjtitill ¥Jil t¢ m*J8 the roceinble c*n )• m•uur•J roli•bly Expenorturg. IrKhAing Irrnc•ver¥t40 VAT. is re¢￿￿$ea when h2Jrr*J or. W earf*. g Wl ts￿￿8tb)n for • paymert 0rtgts provhlod thol rt 18 thal Settsffl•rt￿I be aTrJ fv am￿l01th9obl￿akn can bg m￿sure& Th• ththiity fflakes grnnts Obj0(￿. Gr8rrto payabkn are rwwd as tsJnslnKI￿v rth•. L*n8faity when ts L*8f*y • fx¥nmAmerf b) the reap￿￿1 that can te meatAJrnd and Ihen Mtylo th8 •*t•nl wih the granlare of#% conlrolofth* (*arfty. P4e8 TES TO THÉ ACCOUIITS FOR YEAR EIIDED 30 JUPIE 2026 2 AKounllw Poll¢kn l¢orfn*d) Charlty. The nattjrn ol th• *trfk of so the cÉrt th•l*ab￿ costs •rv aceounts. oxts Mdap￿dent ey8mmatK)n of thv f**ro81 *alern*ts. ei%npkanc8 wlth o)nsutulbnal and et8hrtry m4utrem•ntsaThJ anyothor e￿n￿rt￿e ￿)JIr•d on thg 5ts8149r mw*9•m￿l ofth•£h•rfty. Genernl ar¢ unrestrkkny fvrkJ5 whkth are •vg* IN 01 tho damb￿ of the tru*ee# ￿ frJrth•r•rte of th• g•nernl ol the charlty trwt llet tyy the tryei8ts fry parti￿1￿r I￿U￿8 ¢*)naLtw recew fitrfn aFw*fi)rsp8tsfK ath or It•m8 purthawl or the tharltrs ¢y*n gr• f•ali￿J th• coot ol pur*as8d 118m4 IM fw vakne of don818d items, Is mor¢ £1.OQ) arhy thè item * eyw&*d to benefft the charty LW ffjore than aCC￿n￿n9 period. E*prec*vcfi ts ••J on 8 ltrayht kn• as tt> wri* the vèbjt ol••th d) its e*Mh•ted resxjual ¥4lw Ilf¥nyl 0¥gr AS uaeful Mf•. To •L*kn IN• r•kn of¢J8rt*kn we chayd. Fr8thobJ J Fr•th)kJ bulbJ￿8 Equlmnt TM of Iwd au•ts •r• •¥*nts Or d¥no•5 In ¢kvJmJtyrus Ind*4t• thal th• Ca￿￿9 m•yMt b• rbjl t￿￿rn•d uwl yab* ¢)n th• The L*orltyb tffland818w81• •Mf ¥•t4UBB al •1 bm Fmirw knth1ft￿. 45 dgthed ty F8S102. Exr* for an$. ¢yeditors and debth arn ￿r epw*d sg¢knent (rhyin•￿ the omowt of i¥$h thnl the th•rrty eYWA8 to p•y or rtt•N•l. The r*>)Jft￿ IkiW$ for of th)•e thai ffjm*ni 8t tk• y•or •nd 11.• thè n•bth• •rty ￿l￿rNi L**rwat4o on th• luture h) The ch#rty has taken *dv8n¢tyo ol* t￿￿T•j by th• SORP •hl wep•r•d a iW•Tr¢nt. In preplrtnq I￿Thr￿al Sta￿Tr￿N￿ SLvJwnwts. •8bm•*s and h•¥e trj bo m•dB that •ff8d Its am￿n[S P4eg SEVENOAKS GOSPEL TRUST IIOTES TO THE ACCOUNTS FOR ThE YEAR Ell￿D 30 JUPIE 2026 2025 2024 02.717 In¢gm• Iram ¢Mrltsbl• 2025 2024 34.682 2025 2024 Bank htwwt 3.242 3.24 c￿￿1•1)1• •xp•nthrn 2028 2024 Grants pay Ind8p￿￿ni exomiWI ts• &JbeWkn8*nd InsurnfK• Prowrty m*int•nan Bank ch4y$ 8r%J Other¢>J•ts 3.753 1,937 0,510 102 142 2.290 2.016 1.807 102 6,968 Tol•l •xp•mdknx• 14.244 Page 10 SF¥EhlOAKS GOSPEL TRUST [￿TEs TO THE ACCOUPITS FOR ThE YEM eNDEDJO JUNE 202$ fv•d Fre•hc4J Totsi 2025 Al 1 Juty 2023 A(hJilp)nJ At 30 kn•2024 1.335,•71 1 J35,871 1.335.871 1 335.671 Al 1 2023 trflh• y•w At30 J￿e 2024 Netw¥* At 30 J￿e 2024 1335 071 At jo 2023 1.335 671 Durtng the yearlo 30 Jw8 2020 a ro*Jen￿l kYVPgfty123 B4e£h R￿j So¥8fthksl w wth•ted and IB Sndudqd th flx•J 81 (t)s1. In(kn1no •nd rofiwt*thWcost8 ywto 30 Jw)e Z023, • proporty141 captt&188d In the fin•rbid SEVENOAKS GospeL TRUST 140TES TO THE ACCOUIITS F¢X¢ M YEAR ENDED 30 JUNE 2025 9 Detknr• 2025 2024 IQ li BI￿ and In HaThl 2024 atb8r* whh imff*Jb*JxYA# 305 670 567 218 178 11 Cl•d￿. Il•lAllllo• f•lllngdu• wlhkn (m5wr 2025 2024 1.800 1.800 12 Fund• (XfvJc*y Gwkn8ar rn8ourco8 kn thè y••r 2025 Clo6ho balgr 2025 2025 2025 2025 2025 1.553.165 I￿.610 114.244) 1.839.$41 Tot•1 Funds 1.353.183 1QO.820 114.244) 1,839,Y1 Aoqwal•olhJnds 1.353.185 1(Kl.620 1,839,541 The •nd lknt4"hl*8 offv nds 202$ fixed abu 1.335.871 1.335,671 Cash 81 b•nk •nd in haTrJ Crndttcnfallino one 305.870 305,870 11,8001 1.639.541 1.839,541 Pag8 12 s￿￿01￿8 GOSPEL TRUST *￿TE¥ TO niE ACCOUKrs FOR THE YEAftENt)ED 30JUME 2025 12 Furxl• Cwkno Incomrmj TTw8tr5 Gilnl and O￿n9 balanc* 2024 2024 2024 2024 2024 2024 1.418.746 93.387 18, 1.553.165 Tow UtwBstJthd Fur￿# 1.468.746 18.968) 1.553.165 1.486.748 93.387 1.553,185 2024 lJ36.671 1.335,671 C•Bh 81 bsrt 8nd In h¥ cr￿Ikn tslrvJ duewithkn on•ww 218.176 218.178 11,8001 1.553.165 1.553.18S Durro Ihe ￿Arthtr charfty". al wer4fjd t•L•Jkn9 £10,447 (20Z4'. £23,852) Iftyn rd*J Iny ath8rm•*b8rs ol k•y man8oement•nd anyffie c*• them). bl pqhj rK) 12024.. £ThfJ fry 110 knJ$*e& tr cairy*¥ wi duti# btha trug*8." r•knbwments fty •ws•4 inJn•d wh•) •Jr#J •$ wi ts th8 ¢harty when en¥4)yTn8ni dub88 nL* connor￿j ￿1h 14 Il•mb•rn 13 S8