## **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**|||
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|**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 £**|
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|**_Sub total_**_(Gross income for_
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|**_Sub total_**
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|**_Sub total_ **
**_Total payments_ **
**_Net of receipts/(payments)_ **
**A5 Transfers between funds**
**A6 Cash funds last year end**
**_Cash funds this year end_ **|**-**
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|**A3 Payments**|||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|||**-**|**--**|||**-**|**--**|||**-**|**--**|||**-**|**--**|||**-**|**--**||
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|||**-**|**--**|||**-**|**--**|||**-**|**--**|||**-**|**--**|||**-**|**--**||
|**_Sub total_ **||**-**|**--**|||**-**|**--**|||**-**|**--**|||**-**|**--**|||**-**|**--**||
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|**A4 Asset and investment**|||||||||||||||||||||
|**purchases, (see table)**|||||||||||||||||||||
|||**-**|**--**|||**-**|**--**|||**-**|**--**|||**-**|**--**||||||
|||**-**|**--**|||**-**|**--**|||**-**|**--**|||**-**|**--**||||||
|**_Sub total_ **||**-**|**--**|||**-**|**--**|||**-**|**--**|||**-**|**--**||||||
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|**_Total payments_ **||**-**|**--**|||**-**|**--**|||**-**|**--**|||**-**|**--**|||**-**|**--**||
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|**_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-**||**-**
**--**||**-**
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|**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 £**
**-**
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**asset belongs**
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**asset belongs**
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**liability relates**
**Amount due**
**(optional)**
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Print Name
JONATHAN KAI-HUEI TSENG||||**Endowment**
**funds**
**to nearest £**|
||||||||**-**
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**(optional)**|
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**(optional)**|
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**(optional)**|
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||||||||Date of
approval|
||||JONATHAN KAI-HUEI TSENG||||12/6/2021|
CCXX R2 accounts (SS)
1/17/2022
2
CCXX R3 accounts ISSI
111712022