## **THE GOSPEL GENERATIONS TRUST ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2024**
REGISTERED CHARITY NUMBER: 1186529
## **THE GOSPEL GENERATIONS TRUST**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024**
The trustees present their report with the financial statements of the charity for the year ended 31 March 2024. 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**
Following the formal launch of the trust last year, the trust moved into a more active state. We were excited to make our first financial grants this year supporting ministry trainees at CCM and beyond. In addition we continued to work on growing awareness of the Trust among current and former members of CCM in order to support fundraising efforts. Finally we continue to formalise our procedures and trustee roles to put the Trust on a strong footing to continue its mission in the longer term.
This activity was supported by regular trustee meetings with nine meetings held over the course of the year, including an in-person AGM in October. During the course of this year three trustees stepped down, and three new trustees were appointed to take up their responsibilities. At the end of the year we had six trustees, and a seventh trustee has been appointed since the end of the year.
Grants made this year totalled £15,000 which helped fund four Ministry Interns, primarily at CCM but also within the wider Co-Mission network. Grants made were significantly higher than income due to the strong funding position inherited from the previous year, when we did not make any grants.
In spite of significant grant-making activity we ended the year with a solid financial position, which equips us well to continue supporting individuals into next year and beyond.
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 £2,314, which we intend to award as grant funding in 2024. This included some Gift Aid recovery on historical donations, with more historical Gift Aid expected to be reclaimed in the coming year. We also had modest income from interest on existing cash funds. We are seeking to increase the number of regular committed givers to give us a stronger position for ongoing grant-making
As noted above, in spite of grants made significantly exceeding income, we ended the year with a solid cash position of over £12,000.
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 2024**
## **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 C Lucas C Woollatt S Walsh J Ip M Foy
Approved by order of the board of trustees on 20th January 2024 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**
|**CC16a**|
|---|---|---|---|---|---|---|
||**For the period**
**from**||1-Apr-2023|**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 £**|
|Interest|**-**
**164.12-**||**-**
**--**
**-**
**--**
**-**
**--**
**-**
**--**
**-**
**--**
**-**
**--**
**-**
**--**
**-**
**--**|**-**
**--**|**-**
**164-**
**-**
**2,314-**
**-**
**--**
**-**
**--**
**-**
**--**
**-**
**--**
**-**
**--**
**-**
**--**|**-**
**--**|
|Donations (Including Gift Aid)|**-**
**2,314.05-**|||**-**
**--**||**-**
**--**|
||**-**
**--**|||**-**
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||**-**
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|**_Sub total_**_(Gross income for_
_AR)_|**-**
**2,478-**||**-**
**--**|**-**
**--**|**-**
**2,478-**|**-**
**--**|
||||||||
|**A2 Asset and investment sales,**
**(see table).**|||||||
||**-**
**--**||**-**
**--**
**-**
**--**|**-**
**--**|**-**
**--**
**-**
**--**||
||**-**
**--**|||**-**
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|**_Sub total_**
**_Total receipts_ **
**A3 Payments**|**-**
**--**||**-**
**--**|**-**
**--**|**-**
**--**|**-**
**--**|
||||||||
||**-**
**2,478-**||**-**
**--**|**-**
**--**|**-**
**2,478-**|**-**
**--**|
||||||||
|Grants (Including Transfer Fees)|**-**
**15,115-**||**-**
**--**
**-**
**--**|**-**
**--**|**-**
**15,115-**
**-**
**--**|**-**
**--**|
||**-**
**--**|||**-**
**--**||**-**
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||**-**
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**-**
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**-**
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**-**
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**-**
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**-**
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**-**
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||**-**
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||**-**
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**--**||**-**
**--**|
|**_Sub total_ **|**-**
**15,115-**||**-**
**--**|**-**
**--**|**-**
**15,115-**|**-**
**--**|
||||||||
|**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_ **|**-**
**--**||**-**
**--**|**-**
**--**|**-**
**--**||
||||||||
||**-**
**15,115-**||**-**
**--**|**-**
**--**|**-**
**15,115-**|**-**
**--**|
||||||||
||**-**
**12,637-**||**-**
**--**|**-**
**--**|**-**
**12,637-**|**-**
**--**|
||**-**
**--**||**-**
**--**
**-**
**--**
**-**
**--**|**-**
**--**|**-**
**--**
**-**
**25,562-**
**-**
**12,925-**|**-**
**--**|
||**-**
**25,562-**|||**-**
**--**||**-**
**--**|
||**-**
**12,925-**|||**-**
**--**||**-**
**--**|
||||||||
|**Section B Statement of assets and liabilities at the end of the period**|||||||
|**Categories**
**B1 Cash funds**|**Details**
Current Account|||**Unrestricted**
**funds**
**to nearest £**|**Restricted**
**funds**
**to nearest £**
**-**
**--**|**Endowment**
**funds**
**to nearest £**|
|||||**-**
**5,000-**||**-**
**--**|
|**_Sub total_ **|**_Sub total_ **|**-**|**15,115-**|||**-**|**--**|||**-**|**--**|||**-**|**15,115-**|||**-**|**--**||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
||||||||||||||||||||||
|**A4 Asset and investment**|||||||||||||||||||||
|**purchases, (see table)**|||||||||||||||||||||
|||**-**|**--**|||**-**|**--**|||**-**|**--**|||**-**|**--**||||||
|||**-**|**--**|||**-**|**--**|||**-**|**--**|||**-**|**--**||||||
|**_Sub total_ **||**-**|**--**|||**-**|**--**|||**-**|**--**|||**-**|**--**||||||
||||||||||||||||||||||
|**_Total payments_ **||**-**|**15,115-**|||**-**|**--**|||**-**|**--**|||**-**|**15,115-**|||**-**|**--**||
||||||||||||||||||||||
|**_Net of receipts/(payments)_ **||**-**|**12,637-**|||**-**|**--**|||**-**|**--**|||**-**|**12,637-**|||**-**|**--**||
|**A5 Transfers between funds**||**-**|**--**|||**-**|**--**|||**-**|**--**|||**-**|**--**|||**-**|**--**||
|**A6 Cash funds last year end**||**-**|**25,562-**|||**-**|**--**|||**-**|**--**|||**-**|**25,562-**|||**-**|**--**||
|**_Cash funds this year end_ **||**-**|**12,925-**|||**-**|**--**|||**-**|**--**|||**-**|**12,925-**|||**-**|**--**||
||||||||||||||||||||||
## **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||**-**|**5,000-**||**-**|**--**||**-**|**--**|
CCXX R1 accounts (SS)
1/22/2025
1
||Business Reserve Account||**-**
**7,925-**||**-**
**--**||**-**
**--**|
|---|---|---|---|---|---|---|---|
||||**-**
**--**||**-**
**--**||**-**
**--**|
|**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**||**-**
**12,925-**||**-**
**--**||**-**
**--**|
||||||||OK|
||||**Unrestricted**
**funds**
**to nearest £**
**-**
**--**
**-**
**--**
**-**
**--**
**-**
**--**
**-**
**--**
**-**
**--**
**Fund to which**
**asset belongs**
**Fund to which**
**asset belongs**||**Restricted**
**funds**
**to nearest £**
**-**
**--**
**-**
**--**
**-**
**--**
**-**
**--**
**-**
**--**
**-**
**--**
**Cost (optional)**
**-**
**--**
**-**
**--**
**-**
**--**
**-**
**--**
**-**
**--**
**Cost (optional)**
**-**
**--**||**Endowment**
**funds**
**to nearest £**|
||||||||**-**
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||||||||**Current value**
**(optional)**|
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||||||||**Current value**
**(optional)**|
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||||||||**When due**
**(optional)**|
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||||||||Date of
approval|
||||||||11/1/2025|
|||||||||
CCXX R2 accounts (SS)
1/22/2025
2