THE GOSPEL GENERATIONS TRUST ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2021
REGISTERED CHARITY NUMBER: 1186529
THE GOSPEL GENERATIONS TRUST
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021
The trustees present their report with the financial statements of the charity for the year ended 31 December 2021. T The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The Gospel Generations Trust (GGT) exists to advance the Christian faith; primarily but not exclusively within London, in accordance with the Basis of Faith, including, but not limited to, the financial support of individuals preparing for, or currently undergoing, training for Christian ministry, such training provided through Christ Church Mayfair, London (CCM), or the wider Co-Mission network.
Our primary aim is to financially support and enable Ministry Interns at Christ Church Mayfair.
The Trustees have complied with the duty within Section 17(5) of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
This is the first report submitted by the Gospel Generations Trust since its founding. The trust is yet to formally launch. 2021 has been a year of establishing the foundations for the GGT’s mission and effective function.
Our aims this year have been to lay firm foundations for receiving and distributing funds efficiently and effectively to future Ministry Interns. We have successfully established bank accounts, secure IT infrastructure, and vital policies around privacy and data management to ensure that we comply with regulatory requirements.
We have also been hearing stories from past and present Ministry Interns of how funding can benefit them, the Church, and our wider society. We have collated these stories to share with potential supporters as part of a fundraising campaign for 2022.
Though we had no financially-related aims for this year of foundation laying, we were blessed to receive our first donation during the course of this year.
All of the above resources will provide solid foundations from which to launch the trust, with a formal launch date anticipated in Q1 2022.
During this reporting period, two trustees have departed and one trustee has been appointed.
FINANCIAL REVIEW
Financial position
Donations and gifts received totalled £5,000, which we intend to award as grant funding in 2022. No Gift Aid claim has been made for 2021 donations, but as this can be done every 4 years this is a process which we intend to establish as we receive eligible gifts.
Our main sources of funds are charitable donations, particularly from past or current members of Christ Church Mayfair.
Our principal investment objective is the preservation of capital so that donations can be made to further the purpose of the charity. Therefore funds are held with established financial institutions where they will be protected by the UK government FSCS.
Given the aim is to disburse funds, achieving an investment return on current holdings is a preferred rather than essential. As our principal objective is preservation of capital we are likely to prefer lower-risk investments such as basic savings accounts.
One key risk is being unable to raise funds. Obviously if we do not have funds available this will make the grant-making process very difficult.
The charity is organised and run by volunteers (at present, largely by the trustees). Maintaining their commitment is essential to keep us running.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
We have a single CIO, The Gospel Generations Trust. The Trust is governed by a formal constitution. We are a CIO (Charitable Incorporated Organisation).
Trustees
The board of trustees consists of three to nine people. Trustees are selected as set out in the Constitution.
Selection is made with regard to whether potential trustees have relevant skills, knowledge and experience, and whether they are happy to affirm and live by the Basis of Faith as set out in the Constitution. Trustees are appointed for a term of up to three years, and are appointed by a resolution passed at a properly convened meeting of the charity trustees.
THE GOSPEL GENERATIONS TRUST
REPORT FOR THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021
REFERENCE AND ADMINISTRATIVE DETAILS
Registered charity number
1186529
Principal address
c/o Christ Church Mayfair Interpark House 7 Down Street London W1J 7AJ
Trustees
C Farrar-Bell J Tseng S Wallace R Kisby C Lucas (from 25 January 2021) J Evans (to 27 February 2021) A Davies (to 31 December 2020)
Approved by order of the board of trustees on 17th January 2022 and signed on its behalf by:
Jonathan Tseng
Trustee
| The Gospel Generations Trust |
The Gospel Generations Trust |
The Gospel Generations Trust |
The Gospel Generations Trust |
CC16a | |
|---|---|---|---|---|---|
| For the period from |
13-Aug-2019 | To | |||
| Section A Receipts and payments | |||||
| A1 Receipts | Unrestricted funds to the nearest £ |
Restricted funds to the nearest £ |
Endowment funds to the nearest £ |
Total funds to the nearest £ |
Last year to the nearest £ |
| - 5,000- - -- - -- - -- - -- - -- - -- - -- |
- -- - -- - -- - -- - -- - -- - -- - -- |
- -- |
- 5,000- - -- - -- - -- - -- - -- - -- - -- |
- -- |
|
| - -- |
- -- |
||||
| - -- |
- -- |
||||
| - -- |
- -- |
||||
| - -- |
- -- |
||||
| - -- |
- -- |
||||
| - -- |
- -- |
||||
| - -- |
- -- |
||||
| Sub total(Gross income for AR) |
- 5,000- |
- -- |
- -- |
- 5,000- |
- -- |
| A2 Asset and investment sales, (see table). |
|||||
| - -- - -- |
- -- - -- |
- -- |
- -- - -- |
||
| - -- |
- -- |
||||
| Sub total Total receipts A3 Payments |
- -- |
- -- |
- -- |
- -- |
- -- |
| - 5,000- |
- -- |
- -- |
- 5,000- |
- -- |
|
| - -- - -- - -- - -- - -- - -- - -- - -- - -- |
- -- - -- - -- - -- - -- - -- - -- - -- - -- |
- -- |
- -- - -- - -- - -- - -- - -- - -- - -- - -- |
- -- |
|
| - -- |
- -- |
||||
| - -- |
- -- |
||||
| - -- |
- -- |
||||
| - -- |
- -- |
||||
| - -- |
- -- |
||||
| - -- |
- -- |
||||
| - -- |
- -- |
||||
| - -- |
- -- |
||||
| **Sub total ** | - -- |
- -- |
- -- |
- -- |
- -- |
| A4 Asset and investment purchases, (see table) |
|||||
| - -- - -- |
- -- - -- |
- -- |
- -- - -- |
||
| - -- |
|||||
| Sub total Total payments Net of receipts/(payments) A5 Transfers between funds A6 Cash funds last year end **Cash funds this year end ** |
- -- |
- -- |
- -- |
- -- |
|
| - -- |
- -- |
- -- |
- -- |
- -- |
|
| - 5,000- |
- -- |
- -- |
- 5,000- |
- -- |
|
| - -- - -- - 5,000- |
- -- - -- - -- |
- -- |
- -- - -- - 5,000- |
- -- |
|
| - -- |
- -- |
||||
| - -- |
- -- |
||||
| A3 Payments | ||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| - | -- | - | -- | - | -- | - | -- | - | -- | |||||||||||
| - | -- | - | -- | - | -- | - | -- | - | -- | |||||||||||
| - | -- | - | -- | - | -- | - | -- | - | -- | |||||||||||
| - | -- | - | -- | - | -- | - | -- | - | -- | |||||||||||
| - | -- | - | -- | - | -- | - | -- | - | -- | |||||||||||
| - | -- | - | -- | - | -- | - | -- | - | -- | |||||||||||
| - | -- | - | -- | - | -- | - | -- | - | -- | |||||||||||
| - | -- | - | -- | - | -- | - | -- | - | -- | |||||||||||
| - | -- | - | -- | - | -- | - | -- | - | -- | |||||||||||
| **Sub total ** | - | -- | - | -- | - | -- | - | -- | - | -- | ||||||||||
| A4 Asset and investment | ||||||||||||||||||||
| purchases, (see table) | ||||||||||||||||||||
| - | -- | - | -- | - | -- | - | -- | |||||||||||||
| - | -- | - | -- | - | -- | - | -- | |||||||||||||
| **Sub total ** | - | -- | - | -- | - | -- | - | -- | ||||||||||||
| **Total payments ** | - | -- | - | -- | - | -- | - | -- | - | -- | ||||||||||
| **Net of receipts/(payments) ** | - | 5,000- | - | -- | - | -- | - | 5,000- | - | -- | ||||||||||
| A5 Transfers between funds | - | -- | - | -- | - | -- | - | -- | - | -- | ||||||||||
| A6 Cash funds last year end | - | -- | - | -- | - | -- | - | -- | - | -- | ||||||||||
| **Cash funds this year end ** | - | 5,000- | - | -- | - | -- | - | 5,000- | - | -- | ||||||||||
CCXX R1 accounts (SS)
1/17/2022
1
Section B Statement of assets and liabilities at the end of the period
| Categories B1 Cash funds |
Details | Details | Unrestricted funds to nearest £ |
Unrestricted funds to nearest £ |
Restricted funds to nearest £ |
Restricted funds to nearest £ |
Endowment funds to nearest £ |
|---|---|---|---|---|---|---|---|
| - 5,000- |
- -- |
- -- |
|||||
| - -- |
- -- |
- -- |
|||||
| - -- |
- -- |
- -- |
|||||
| B2 Other monetary assets B3 Investment assets B4 Assets retained for the charity’s own use B5 Liabilities Signed by one or two trustees on behalf of all the trustees |
Total cash funds (agree balances with receipts and payments account(s)) Details Details Details Details Signature JONATHAN TSENG |
- 5,000- |
- -- |
- -- |
|||
| OK | |||||||
| Unrestricted funds Restricted funds to nearest £ to nearest £ - -- - -- - -- - -- - -- - -- - -- - -- - -- - -- - -- - -- Fund to which asset belongs Cost (optional) - -- - -- - -- - -- - -- Fund to which asset belongs Cost (optional) - -- - -- - -- - -- - -- - -- - -- - -- - -- Fund to which liability relates Amount due (optional) - -- - -- - -- - -- - -- Print Name JONATHAN KAI-HUEI TSENG |
Endowment funds to nearest £ |
||||||
| - -- |
|||||||
| - -- |
|||||||
| - -- |
|||||||
| - -- |
|||||||
| - -- |
|||||||
| - -- |
|||||||
| Current value (optional) |
|||||||
| - -- |
|||||||
| - -- |
|||||||
| - -- |
|||||||
| - -- |
|||||||
| - -- |
|||||||
| Current value (optional) |
|||||||
| - -- |
|||||||
| - -- |
|||||||
| - -- |
|||||||
| - -- |
|||||||
| - -- |
|||||||
| - -- |
|||||||
| - -- |
|||||||
| - -- |
|||||||
| - -- |
|||||||
| When due (optional) |
|||||||
| Date of approval |
|||||||
| JONATHAN KAI-HUEI TSENG | 12/6/2021 |
CCXX R2 accounts (SS)
1/17/2022
2
CCXX R3 accounts ISSI 111712022