## **THE GOSPEL GENERATIONS TRUST ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2022**
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 March 2022. 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**
In 2022 the GGT finished its set-up process and formally launched in February of this year.
The majority of the year was spent finalising our launch and building on the policy and infrastructure set up last year to move towards more actionable items, notably promoting awareness of the GGT via marketing materials (website, social media, brochure) spotlighting the stories from previous Ministry Interns and the impact the program has had on their lives.
This was facilitated by regular trustee meetings, with ten meetings over the course of the year. We also welcomed Christie Valeriano as a trustee, bringing the board back up to full strength with six members.
This led to the formal launch of the GGT in February 2022, with a presentation at the Christ Church Mayfair ‘Church Family Getaway’ highlighting the work and encouraging church family to **Pray** for the work of the GGT, **Share** information about the GGT with current and former CCM members and **Give** to support the GGT, particularly when they move on from CCM.
While the GGT was not publicly launched until the end of the financial year, we were encouraged to receive a second donation which puts us onto a firm financial footing to start making grants.
We did not make any grants to the current ministry interns at Christ Church Mayfair this year, as none of them have had financial need. This means we ended the financial year with more funds available to grant out than anticipated. However on a positive note this allows us to inform prospective interns that finance need not be a barrier to them receiving ministry training.
Last but certainly not least we also supported current and future ministry interns through regular prayer.
## **FINANCIAL REVIEW**
## **Financial position**
Donations and gifts received totalled £5,000, which we intend to award as grant funding in 2023. No Gift Aid claim has been made for 2022 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 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 MARCH 2022**
## **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 C Valeriano (from 9th November 2021)
Approved by order of the board of trustees on 23rd January 2023 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**|**The Gospel Generations Trust**|||||**1186529**|**1186529**|**1186529**|**1186529**|||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|||**Receipts and payments accounts**|||||||||||||||||**CC16a**||
|||**For the period**
**from**||||1-Apr-2021||||**To**||||31-Mar-2022|||||||
||||||||||||||||||||||
|**Section A Receipts and payments**|||||||||||||||||||||
|||**Unrestricted**
**funds**||||**Restricted**
**funds**||||**Endowment**
**funds**||||**Total funds**|||||**Last year**||
|||**to the nearest**
**£**||||**to the nearest £**||||**to the nearest £**||||**to the nearest £**|||||**to the nearest £**||
|**A1 Receipts**|||||||||||||||||||||
|Current Account Interest||**-**
**10-**|||**-**|**--**|||**-**|**--**|||**-**|**10-**||||**-**|**--**||
|Reserve Account Interest||**-**
**0-**|||**-**|**--**|||**-**|**--**|||**-**||**0-**|||**-**|**--**||
|Donations||**-**
**5,000-**|||**-**|**--**|||**-**|**--**|||**-**|**5,000-**||||**-**|**--**||
|||**-**
**--**|||**-**|**--**|||**-**|**--**|||**-**|**--**||||**-**|**--**||
|||**-**
**--**|||**-**|**--**|||**-**|**--**|||**-**|**--**||||**-**|**--**||
|||**-**
**--**|||**-**|**--**|||**-**|**--**|||**-**|**--**||||**-**|**--**||
|||**-**
**--**|||**-**|**--**|||**-**|**--**|||**-**|**--**||||**-**|**--**||
|||**-**
**--**|||**-**|**--**|||**-**|**--**|||**-**|**--**||||**-**|**--**||
|**_Sub total_**_(Gross income for_||**-**
**5,010-**|||**-**|**--**|||**-**|**--**|||**-**|**5,010-**||||**-**|**--**||
|_AR)_|||||||||||||||||||||
|**A2 Asset and investment sales,**|||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|**(see table).**|||||||||||||||||||||
|||**-**|**--**|||**-**|**--**|||**-**|**--**|||**-**|**--**||||||
|||**-**|**--**|||**-**|**--**|||**-**|**--**|||**-**|**--**|||**-**|**--**||
|**_Sub total_**||**-**|**--**|||**-**|**--**|||**-**|**--**|||**-**|**--**|||**-**|**--**||
||||||||||||||||||||||
|**_Total receipts_ **||**-**|**5,010-**|||**-**|**--**|||**-**|**--**|||**-**|**5,010-**|||**-**|**--**||
|**A3 Payments**|||||||||||||||||||||
|||**-**|**--**|||**-**|**--**|||**-**|**--**|||**-**|**--**|||**-**|**--**||
|||**-**|**--**|||**-**|**--**|||**-**|**--**|||**-**|**--**|||**-**|**--**||
|||**-**|**--**|||**-**|**--**|||**-**|**--**|||**-**|**--**|||**-**|**--**||
|||**-**|**--**|||**-**|**--**|||**-**|**--**|||**-**|**--**|||**-**|**--**||
|||**-**|**--**|||**-**|**--**|||**-**|**--**|||**-**|**--**|||**-**|**--**||
|||**-**|**--**|||**-**|**--**|||**-**|**--**|||**-**|**--**|||**-**|**--**||
|||**-**|**--**|||**-**|**--**|||**-**|**--**|||**-**|**--**|||**-**|**--**||
|||**-**|**--**|||**-**|**--**|||**-**|**--**|||**-**|**--**|||**-**|**--**||
|||**-**|**--**|||**-**|**--**|||**-**|**--**|||**-**|**--**|||**-**|**--**||
|**_Sub total_ **||**-**|**--**|||**-**|**--**|||**-**|**--**|||**-**|**--**|||**-**|**--**||
|**_Sub total_ **||**-**|**--**|||**-**|**--**|||**-**|**--**|||**-**|**--**|||**-**|**--**||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
||||||||||||||||||||||
|**A4 Asset and investment**|||||||||||||||||||||
|**purchases, (see table)**|||||||||||||||||||||
|||**-**|**--**|||**-**|**--**|||**-**|**--**|||**-**|**--**||||||
|||**-**|**--**|||**-**|**--**|||**-**|**--**|||**-**|**--**||||||
|**_Sub total_ **||**-**|**--**|||**-**|**--**|||**-**|**--**|||**-**|**--**||||||
||||||||||||||||||||||
|**_Total payments_ **||**-**|**--**|||**-**|**--**|||**-**|**--**|||**-**|**--**|||**-**|**--**||
||||||||||||||||||||||
|**_Net of receipts/(payments)_ **||**-**|**5,010-**|||**-**|**--**|||**-**|**--**|||**-**|**5,010-**|||**-**|**--**||
|**A5 Transfers between funds**||**-**|**--**|||**-**|**--**|||**-**|**--**|||**-**|**--**|||**-**|**--**||
|**A6 Cash funds last year end**||**-**|**--**|||**-**|**--**|||**-**|**--**|||**-**|**--**|||**-**|**--**||
|**_Cash funds this year end_ **||**-**|**5,010-**|||**-**|**--**|||**-**|**--**|||**-**|**5,010-**|||**-**|**--**||
||||||||||||||||||||||
## **Section B Statement of assets and liabilities at the end of the period**
|||||||**Unrestricted**|||**Restricted**|||**Endowment**|
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|||**Categories**|**Details**|||**funds**|||**funds**|||**funds**|
|||||||**to nearest £**|||**to nearest £**|||**to nearest £**|
|**B1**|**Cash**|**funds**|Current Account||**-**|**5,010-**||**-**|**--**||**-**|**--**|
CCXX R1 accounts (SS)
1/23/2023
1
||Reserve Account|||**-**
**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|||**-**
**10,010-**||**-**
**--**||**-**
**--**|
|||||||||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||||23/01/22|
||||||||||
CCXX R2 accounts (SS)
1/23/2023
2