THE GREGORY CENTRE FOR CHURCH MULTIPLICATION
TRUSTEES. REPORT
AND FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023
Company No 14429617
Charity Registration No 1201506
Jacob Cavenagh & Skeet
Chartered Accountants
5 Robin Hood Lane
Sutton
Surrey SM12SW

THE GREGORY CENTRE FOR CHURCH MULTIPLICATION
TRUSTEES. REPORT
AND FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023
Contents
Page
Report of the Trustees
Report of the Independent Auditors
Statement of Financial Activities
Balance Sheet
Statement of Cash Flows
Notes lo the Financial Ststements
&10
11
12
13
14-19

THE GREGORY CENTRE FOR CHURCH MULTIPLICATION
REPORT OF THE TRUSTEES
REFERENCE AND ADMINISTRATIVE DETAILS
The Charity's registered address with Companies House is..
The Old Deanery
Dean's Court
London
EC4V SAA
Board of Trustees
The Trustees of the Charity are also the Directors of the limited company. The Trustees who served during
the pericKI and up to the dale of this report were..
The Rt Revd Peter Broadbenl
Jacqueline Driver
The Venerable Sally Ann Gaze
Bishop Tedroy Powell
The Rt Revd Richard Thorpe
Gregory Wood
lappointed 19 October 20221
(appointed 21 November 20221
lappointed 19 October 20221
lappointed 21 November 20221
(appointed 19 October 20221
{appointed 21 October 20221
Key Management Personnel
H Miller
(Chief of Staff)
Dale Eland (Operations Headl
Professional advisers
Solicitors..
Birkells LLP
1 London Wall Place
London EC2Y SAU
Auditors..
Jacob Cavenagh & Skeet
5 Robin Hood Lane
Sullon
Surrey SM12SW
Bankers..
Lloyds Bank plc
25 Gresham Street
London EC2V 8HN
The Co-operative Bank plc
PO Box 101
1 Balloon Street
Manchester M60 4EP
Page 1

THE GREGORY CENTRE FOR CHURCH MULTIPLICATION
REPORT OF THE TRUSTEES Iconlinuedl
The Trustees present their Annual Report for the period ended 31 December 2023. together with the audited
accounts for the period, which have been prepared In accordance with the Companies Act 2006, the charib.es
Act 2011, the charity's governing document. the Charities Statement of Recommended Practice (Charities
SORP IFRS 10211 and Financial Reporting Standard 102 IFRS 1021. The annual report serves the purposes
of both a Trustees, Report and a Directors, Report under company law.
Henceforth the charitable company will be referred lo as 'CCX throughout this report.
OBJECTIVES AND ACTIVITIES
Charitable Objectives
CCX exists for the public benefit to advance the Christian faith throughout the world and to do so principally,
but not exclusively, by serving and enabling the Christian church worldwide, and particularly in the Diocese
of London and throughout England, in accordance with the Slalement of Faith. The mission of CCX is to
resource the Church to reach new people in new and renewed ways.
The vision of CCX is to see the whole Church built up and sent out in love, to plant and grow churches that
equip all Christ's people for his work. We long to see a thriving church in every community, reaching every
person with the good news about Jesus.
We do this by equipping churches, planters and pioneers to multiply. We offer learning, coaching and
consultancy wlh some of the most experienced people in church growth, helping churches lo connect with
their tradition of growth and reframe this for a contemporary context.
Overall Goals
G081s towards meeting our vision".
Champion the mixed eeology vision of the Church of England by supporting the planting of 10,000
new, predominantly lay-led, churches by 2030, reaching one million new people with the good news
of Jesus Christ.
Co-operating with other church networks, to see the re-evangelisalion of our nation.
Helping lo deliver the Creative Growth ambition with the London Diocese by helping each church to
grow in depth, impact and number through the Grow Course and equipping them to multiply by starting
new congregations and new worshipping communities to reach new people in their parish and locality.
Through growing existing parishes and starting 400 new worshipping communities, we hope to help
fulfi'l the vision to see every Londoner encounter the love of God in Christ.
Specific Programmes
We equip leaders through the following training..
Grow Course
The Grow Course is for all church leaders and their teams to help their churches grow in health, depth and
impact in their own context.
Plant Course
The Plant Course equips and prepares church planting teams in the why, what and how of starting a new
church community.
Page 2

THE GREGORY CENTRE FOR CHURCH MULTIPLICATION
REPORT OF THE TRUSTEES Iconlinuedl
Eslates
We help the Church across eslales and low-income housing areas, planting and supporting estate church
mission. Become is a learning stream for potential leaders from estates to be trained to help assist or lead a
worshipping commLJnity in their own context.
Pioneer School
We help the Church pioneer, starting new church communities in creative ways. We connect Pioneers
together for support., training them in the skills, knowledge and understanding required lo launch new church
communities where they are most needed.
Lay-18d Planting
Myriad offers a learning pathway for everyday people to be equipped with the tools needed lo form new
church communities.
Resou￿ Churches
We support the work of resource churches across the country as cenlres of planting and church revitalisalion
through regular leadership briefings, consultations and learning communities.
Public Benefit Activities
The Trustees complied with the duty in section 4 of the 2006 Charities Act to have due regard lo guidan
published by the Charity Commission, including Public Benefit guidance.
All the activities of the Charity las summarised below) were undertaken to further its charitable purposes for
public benefit.
ACHIEVEMENTS AND PERFORMANCE
The centre was established in 2015 by Ric Thorpe, who was appointed as the Bishop of Islington lo lead the
DioTrse of London's goal of creating 100 new worshipping communities and lo offer support for church
planting more widely.
With the scope of work expanding nationally and the need to support a nimble and growing team, The Gregory
Centre for Church Multiplication ICCXI was formed as an independent charity lo provide flexibility to respond
to changing needs and started ils separate activities from March 2023.
CCX'S key achievements in 2023 are as follows".
After the first year of the Myriad Learning Pathway for lay leaders, seven hubs have been established,
supporting 71 teams and the formation of over 70 New Worshipping Communities. Myriad is
successfully working in rural, urban and multi-ethnic contexts, as well as across church traditions.
In partnership wth the Church Pastoral Aid Society and in response to feedback from church leaders,
we have developed an oversight ministers, course lo equip incumbents with the tools they need lo
oversee lay planters.
A lolal of 14 teams allended the Grow Course., two cohorts finished, and new cohorts started.
Parishes that have been taking part in the course report having more courage, confidence and clarity
around their growth journey.
Seven teams benefitted from the Plant Course, with six new church plants starting as a result. We
have also launched a new course, Explore Church Planting, developed in partnership with Sl Hild's
College. Through a series of videos and questions, the course helps church leaders and PCCS deepen
their understanding of the subject of church planting.
We ran two Become learning streams for potential leaders from estates and low-income housing
areas. with over 30 people attending. In addition, the first Multiply Eslales Mission Conference was
held, with over 150 people attending lo receive teaching hear stories, worship together and ne￿ork.
Page 3

THE GREGORY CENTRE FOR CHURCH MULTIPLICATION
REPORT OF THE TRUSTEES Iconlinuedl
A new cohort of Pioneer School started in September in partnership with Church Mission Society and
Chelmsford Diocese, with 20 new Pioneers coming together lo learn about pioneering work and
advance their plans lo start new worshipping communities. Several pioneer gatherings also took pla
across the Diocese of London, which saw Pioneers gather, support one another and pray for London.
700 people allended our Multiply conference In June across four national venues, lo be equipped by
leading thinkers on church planting and mulliplicalion.
The Creative Growth team supported the work of the London resource churches through one-l&one
consullalions, learning communities and liaising with different episcopal area teams. Eight of the
resource churches have grown numerically since the pandemic, with multiple planting activities and
leadership investment taking place.
In order to increase support for Resource Church Leaders and the important role they play in church
planting, we have created a new resource church programme board, increasing the national team
from three to seven.
Plan$ for future periods
We believe God is calling CCX to move from 'helping' the Church to reach new people, to 'making something
happen,. It is a subtle but vital shift lo a more active stepping out. We are expanding our work across the
country, supporting di¢)ceses to develop growth strategies for their contexts, from lay planting of new
worshipping communities to revitalising existing parishes.
Key plans for 2024 are as follows..
Our Myriad Learning Pathway wll start a further eight learning hubs across the country, supporting at
least 72 teams of lay planters to start new worshipping communities
The London Creative Growth team will continue to provide courses lo support the growth ambition of
the Diocese of London, which includes..
Running five Grow Courses, including working with a number of deaneries lo bring together a
cluster of churches in their area. This new approach will increase impact by facilitating local
churches to build relationships and support one another in church growth
Supporting 10 new church plants in the Diocese of London through the Plant Course
Training a further 10 Pioneers to start new worshipping communities
Launching a new Estates Apprenticeship for individuals to leam alongside an eXperIen￿d
practitioner in order lo set up a new worshipping communily
Expand our work with dioceses across the country, offering a suite of courses and learning pathways
for a dioTrse in order for them to fulfil their growth agenda. Aiming lo work with four dioceses outside
of London In 2024
Continue to collaborate across denominations, in order to see the growth of the whole Church in
England. This includes partnering with Youth With a Mission IYWAMI for The Send, an initiative set
to inspire thousands of young people across the country in mission
Undertake a number of pieces of research to help further inform our work and to share learnings with
the Church. We will be releasing two pieces of research in the first half of the year 'The Voice of the
Resource Church Leader, and 'The Voice of the Pioneer, with recommendations of how to strengthen
support, as well as undertaking research into strengthening discipleship across the Church.
Host Multiply 2024, our annual church planting conferen￿, on the topic of multiplying a Younger
Church, equipping leaders to grow, disciple and multiply a Younger Church that reaches new people,
in new and renewed ways.
Page 4

THE GREGORY CENTRE FOR CHURCH MULTIPLICATION
REPORT OF THE TRUSTEES Iconlinuedl
FINANCIAL REVIEW
During the period the Charity realised income of £2,490,394 of which £573,821 was intended for restricted
funds. It incurred expenditure of £1,387,086 of which £464,614 was restricted. Al 31 December 2023 il had
reserves of £1,103,308 of which £994,101 were unreslricled and £109,207 were restricted.
The reserves al 31 December 2023 were more than required by the reserves policy as the Charity planned
to draw down on the reserves in the following year.
Reserves Policy
The policy of CCX is to hold reserves $0 8S to have sufficient..
111 to cover cash flow needs throughout the year.
121 as a contingency against unanticipated costs and lo allow the Charity to take advantage of new
opportunities.
131 to cover the Charity's liabilities should it need to wind up.
Cash flow is dependent on grants and fund-raising and is therefore uneven. There are significant cash outlays
in some months throughout the year. The aim is lo hold £250,000 in cash at each month end.
In the event of winding up, there are not sufficient capital assets to meet all liabilib'es.
Liabilities include-.
redundancy payments to staff, including payments in lieu of notice of £200,000
discharging commitments lo suppliers and team already in place- this is partly covered above, so a further
£50,000 is allowed here
Total Estimated Cost.. £250,000
Investment Policy
CCX ulilises three financial institutions with the majority of the funds stored in a savings account for better
interest earnings. This allows CCX to minimise risk and any potential losses in the event of financial instsbility
within the banking sector.
Grant making policy
CCX has partnered wlh selected churches and dioceses that are well known to the organisation and
considered effective implementing partners wthin our budget constraints.
Volunteers, contribution
We welcomed the help ofvolunteers across both our conferences.. Multiply Estates Mission and Multiply 2023.
Our Applications Manager was also helped by six Salesforce interns over the course of the year.
Fundraising
In line with the reporting requirements included in the Charities Act 2016, the Trustees are pleased to confim)
that all fundraising was done in compliance with best fundraising practice. During the financial period ended
31 December 2023 we contracted the service of a fundraising professional to the value of £5,700. There were
no complaints or criticisms during the period about our fundraising activities.
The main source of income for the Charity is grant funding from generous funders, as well as SUPFX)rt from
the London Diocesan Fund.
Page 5

THE GREGORY CENTRE FOR CHURCH MULTIPLICATION
REPORT OF THE TRUSTEES Iconlinuedl
We remain Incredibly grateful lo our funders for their support as they joined with us in our work to resource
the Church to reach new people, in new and renewed ways.
Risk Management
The Trustees believe they are aware of the major risks to which the Charity is exposed and that controls are
in place lo miligale them. A Risk Register is in use and the Trustees aim for robust management oversight.
The Trustees consider the principal risks and uncertainties facing the Charity, and the plans and strategies
for managing these risks, lo be..
Strategic." Lack of direction, strategy and planning.,
Reputional.. Action by a member of Board, staff or team, speaker or delivery partner signific8nlly at variance
with CCX ethos",
IT related.. Ma￿are and cyber attack., Data breach, non-compliance with GDPR regulations.
Mib"galions are in place lo address all these risks, which were identified al the initial stage of founding the
charity. The Board will be reviewing these on a regular basis and will sharpen up the list of risks in the light
of operational experience.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing Document
The charitable company is a wislered charity (registration number 12015061 and is conslituled as a
company registered in England and limited by guarantee Iregislration number 144296171. Its objects, powers
and constitution are set out in its Memorandum and Articles of Association dated 19 October 2022.
Governance
The Board is responsible for the overall governance of CCX. Trustees meet regularly to rewew strategic
direction, policies, budget and management accounts and all other high level decisions. Decision-making is
based on clear paperwork and recommendations. Day-l04ay management is delegated to the CEO, the
Chief of Staff and the Team leads, who meet weekly. The Chair of Trustees also allends these meetings lo
ensure good communication and governance.
The CEO is not salaried, but receives a stipend in his role as a Bishop of the Church of England. Stipend
levels are set nationally. No Trustees receive any remuneration from the Charity.
The pay and remuneration of staff is set by the Trustees, who have de￿gated this task to the HR and
Remunerations Committee, and is kept under annual review. A number of criteria are used in setting pay".
nature of the role and responsibilities
competitor salaries in the region
the sector average salary for comparable positions
trends in pay
Recruitment and Induction of Trustees
Trustees serve for a term of three years, renewable, subject lo a maximum of three temis of office Inine years
in lotall. Board members are recruited against a clear role descripts'on. The Board will be addressing Trustee
training at a future meeting.
Conneeted Charities
There are no connected char((ies, 81though CCX was under the aegis of the London Diocesan Fund ILDFI
before becoming a separate ¢harily. Aspects of the work of CCX in London are funded by the LDF as part of
its 2030 Vision. Two of our Trustees are also Trustees of the London Diocesan Fund.
Page 6

THE GREGORY CENTRE FOR CHURCH MULTIPLICATION
REPORT OF THE TRUSTEES Iconlinuedl
Truste￿, Responsibilities
The Trustees Iwho are also the Directors of The Gregory Centre for Church Mulliplicationl are responsible
for ensuring the preparation of the Annual Report and the financial statements is in accordance with
applicable law and regulations. Under that law the Trustees have elected lo prepare the financial statements
in accordance with United Kingdom Generally Accepted Accounting Practi￿ (United Kingdom Accounting
Standards and applicable lawl.
The Trustees are required to prepare financial statements for each financial period, which give a true and fair
view of the affairs of the charitable company and the incoming resources and application of resources,
including the income and expenditure, of the charitable company for the period. In preparing those financial
statements, the Trustees are required to..
select suitable accounting policies and then apply them consislenlly.,
observe the methods and principles in the Charities SORP.,
make judgements and estimates that are reasonable and prudent.,
stale whether applicable UK Accounting Standards have been followed, subject to any material
departures disclosed and explained In the financial slatemenls.,
prepare the financial statements on the going con￿rn basis unless il is inappropriate to presume that
the company will continue.
The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy
al any time the fi'nancial position of the company and to enable them lo ensure that the financial statements
comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company
and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The
Trustees are responsible for the maintenance and integrity of the corporate and financial information included
on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of
financial statements may differ from legislation in other jurisdictions.
Disclosure of infomiation to auditors
To the knowledge and belief of the Trustees, there is no relevant information that the company's auditors are
not aware of, and the Trustees have taken all the steps necessary lo ensure the Trustees are aware of any
relevant information, and to establish that the company's auditors are aware of the information.
Small company
The above report has been prepared in accordance with the special provisions of Part 15 of the Companies
Act 2006 relating to small companies.
Approved by the Board of Trustees at its meeting on 1 May 2024 and signed on its behalf by..
Pete Broadbent
Chair of Trustees
Page 7

REPORT OF THE INDEPENDENT AUDITOR TO THE MEMBERS OF
THE GREGORY CENTRE FOR CHURCH MULTIPLICATION
Opinion
We have audited the financial statements of The Gregory Centre for Church Multiplication Ithe 'charity I for
the pericKI ended 31 De￿mber 2023 which comprise the Statement of Financial Activities, the Balance Sheet,
the Statement of Cash Flows and the notes lo the financial statements, including a summary of significant
accounting policies. The financial reporting framework that has been applied in their preparation is applicable
law and United Kingdom Accounting Standards, Including Financial Reporting Standard 102 The FinanGial
Reporting Standard appI￿able in the UK and Republic of Ireland (United Kingdom Generally A￿pted
Accounting Practice).
In our opinion the financial slatemenls..
give a true and fair view of the slate of the charitable company's affairs as al 31 December 2023 and
of its incoming resources and application of resources, including ils income and expenditure, for the
period then ended.,
have been properly prepared in accordance with United lfjngdom Generally Accepted Accounting
Practice", and
have been prepared in accordance wth the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKII and
applicable law. Our responsibilrties under those standards are further described in the Auditor's
responsibilities for the audit of the financial statements section of our report. We are independent of the
charitable company in accordance with the ethical requirements that are relevant lo our audit of the financial
slalements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical
responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained
is sufficient and appropriate lo provide a basis for our opinion.
other infom)alion
The other information comprises the information included in the annual report, other than the financial
statements and our auditor's report thereon. The Trustees are responsible for the other information. Our
opinion on the financial statements does not cover the other information and, except to the extent othewse
explicitly slated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is lo read the other information and,
in doing so, consider whether the other information is materially inconsistent with the financial statements or
our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such
material inconsistencies or apparent material misstatements, we are required to determine whether there is
a material misstatement in the financial statements or a material misstatement of the other information. If,
based on the work we have performed, we conclude that there is a material misstatement of this other
information, we are required to report that fact.
We have nothing to report in this regard.
Opinions on othgr matters prescribgd by the Companigs Act 2006
In our opinion, based on the work undertaken in the course of our audit..
the information given in the Trustees. Report, which includes the directors, report prepared for the
purposes of company law, for the financial period for which the financial statements are prepared is
consistent with the financial statements., and
the directors, report included within the Trustees, Report has been prepared in accordance wf(h
applicable legal requirements.
Page 8

REPORT OF THE INDEPENDENT AUDITOR TO THE MEMBERS OF
THE GREGORY CENTRE FOR CHURCH MULTIPLICATION {continued)
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the charity and its environment obtained in the course of
the audit. we have not identified material misstslements In the strategic report or the directors, report included
with the Trustees, report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006
requires us lo report to you if, in our opinion..
adequate accounting records have not been kept, or returns adequate for our audit have not been
received from branches not visited by us", or
the financial statements are not In agreement with the accounting records and returns,. or
certain disclosures of Trustees, remuneration specified by law are not made., or
we have not received all the information and explanations we require for our audit., or
the Trustees were not entitled to prepare the financial statements in accordance with the small
companies regime and lake advantage of the small companies exemptions in preparing the Trustees,
report and from the requirement lo prepare a strategic report.
Responsibilities of Trustees
As explained more fully IN the Trustees, resFX)nsibililies statement, the Trustees Iwho are also the directors
of the charitable company for the purposes ofcompany lawl are responsible for the preparation of the financial
statements and for being satisfied that they give a true and fair view, and for such internal control as the
trustees determine is necessary to enable the preparation of financial slalements that are free from material
misststement, whether due lo fraud or error.
In preparing the financial statements, the Trustees are responsible for assessing the charity's ability lo
continue as a going concern, disclosing, as applicable, matters related to going concern and using the going
concern basis of accounting unless the Trustees either Intend to liquidate the company or to ￿ase operations,
or have no realistic alternative bul lo do so.
Auditor's responsibilities for the audit of the financial statements
Our objectives are lo obtain reasonable assurance about whether the financial statements as a whole are
free from material misstatement, whether due lo fraud or error, and to issue an auditor's report that includes
our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit
eonducled in accordance w(th ISAS IUKI will always detect a material misslatemenl when il exists.
Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate,
they could reasonably be expected to influence the economic decisions of users taken on the basis of these
financial statements.
The extent lo which our procedures are capable of detecting irregularities, including fraud is detailed below..
Based on our understanding of the company, we identified that the principal risks of non-compliance with
laws and regulations related lo company, employment and financial reporting legislation and we considered
the extent lo which non-compliance might have a material effect on the financial statements. We also
considered those laws and regulations that have a direct impact on the preparation ofthe financial statements
such as the Companies Act 2006 and the Charits'es Act 2011.
We assessed the susceptibility of the company's financial statements to material misslatemenl, including
obtaining an understanding of how fraud might occur, by making enquiries of management, considering the
internal controls in place and discussion amongst the engagement team. We determined that the principal
risks were related lo recognition of grant income, categorisation of reslricled funds and management override
of controls.
Page 9

REPORT OF THE INDEPENDENT AUDITOR TO THE MEMBERS OF
THE GREGORY CENTRE FOR CHURCH MULTIPLICATION Icontinuedl
In response lo the risks identified we designed procedures which included, but were not limited lo." reviewing
grant agreements for income recognition and re51ricled fund5. evaluating the charity's inlemal controls,
idenbfyinq and testinq jokjrnal entries and reviewing trustees minutes.
There are inherent limitations in the audit procedures described above. The more removed that laws and
regulations are from financial transactions, the less likely it is that we would become aware of non-compliance.
Material misslalements that arise due lo fraud can be harder to delect than those that ari88 from error as they
may involve deliberdle wn(EalmeiiL or Lollusioii.
A further description of our responsibilities for the audit of the financial slalements is located on the Financial
Reporting Council's website al.. http."Ilwww.frc.org.uklaudilorsTesponsibililies. This description forms part of
our audi(or's rèport.
Other matters
Your attention is drawn lo the fad IhAt thp r.harity prpparpd the finanr.ial statements in accordance with
"Accounting and Reportin9 by Charities.. Slalement of Recommended Practice applicable to charities
preparing their accounts in a¢cordan¢e with thè Pinancial Keporting Standard applicable in the UK and
Republic of Ireland IFRS 1021" las amended} in preference lo the Accounting and Reporting by Chariti8s'.
Statèment of Rècommended Practice issued on 1 April 2005 which is referred to in the extant regulations but
ha5 now been withdrawn. This has been done in order for Ihe financial stalemenls lo provide a true and lair
view in accordanc6 with Generally Accepted Accounting Practice effective for reporting periods baginning on
or after 1 Janijary 2015.
Use of our report
This report is made solely to the charllable company's members. as a body, In accordance w((h Chapter 3 of
Part 16 of thè Companies Act 2006 and regulations made under that Act. Our auditwork has been undertaken
$0 that we might slate lo the charitable companls members those matters we are required lo slate lo them
in an auditors, report and for no other purpose. To the fullest exlenl pemitted by law, we do not accept or
assume responsibility to anyone other than the charitable ￿MpanY and its members as a body, for our audit
work, for thi5 report, or for the opinions we have fomed.
Miriam Hickson FCA (Senior Statutory Auditor)
for arjd behalf of Jacob Cavenagh & Skeet
Statutory Auditor
Ghartered Accountants
5 Robin Hood Lang
SuLlori
Surrey
SM1 2SW
Dated..
li
str 2oZLt
Page 10

THE GREGORY CENTRE FOR CHURCH MULTIPLICATION
STATEMENT OF FINANCIAL ACTIVITIES lincluding the Income and Expenditure Account)
FOR THE PERIOD ENDED 31 DECEMBER 2023
2023
Unrestrieted Restricted
Funds
Funds
Total
Note
Income from:
Donations and legacies
Investments
Charitable activities
other income
Total income
1,886.410 573,821 2,460,231
4,345
4,345
24,570
24,570
1 916 573 573 821 2 490 394
Expendlture on:
Charitable activities
Totsl expenditure
922 472 464 614 1 387 086
922 472 464 614 1 387 086
Net Income
994,101
109,207 1,103,308
Transfers
Net movement in funds
994 101
109207 1 103 308
Reconciliation of funds
Balance carried forward at 31 December 2023
The company has no other recognised gains or losses for the period. All activities of the Charity are
continuing.
Page 11

THE GREGORY CENTRE FOR CHURCH MULTIPLICATION {Company number 14429617)
BALANCE SHEET
AS AT 31 DECEMBER 2023
31.12.2023
Note
Fixed assets
Tangible assets
Current assets
Debtors
Cash in hand and al bank
10
80,110
1 102616
1,182,726
Creditors.. Amounts falling due
within one year
Net assets
13
Funds
Unrestricted Funds
994,101
Restricted Funds
12
109207
Total charity funds
The financial statements have been prepared in a¢cordan¢e with the
special provisions of Part 15 of the Companies Act 2006 relating to small
companies and were approved by the Trustees on 1 May 2024 and signed
on their behalf by..
Pete Broadbent
Chair of Trustees
Page 12

THE GREGORY CENTRE FOR CHURCH MULTIPLICATION
STATEMENT OF CASH FLOWS
FOR THE PERIOD ENDED 31 DECEMBER 2023
Note
2023
Cash provided by operating activities
1,098,271
Cash flows from investing activitie8
Investment income
4345
Increase In Cash and cash equlvalents durlng the perlod
1,102,616
Cash and cash gquivalgnts as at 31 December 2023
lil Reconciliation of net movement in funds to cash used in operating activities
2023
Net movement in funds
Investment income
Ilncreasel in debtors
Increase in creditors
Net cash provided by operating activities
1,103,308
{ 4,3451
1 80,1101
79418
27
Page 13

THE GREGORY CENTRE FOR CHURCH MULTIPLICATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023
ACCOUNTING POLICIES
The Gregory Centre for Church Multiplication is a company limited by guarantee incorporated in
England. 11 is registered with the Charity Commission. Its registered Offi￿ is The Old Deanery, Dean's
Court, London EC4V 5A4.
The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the
preparation of the financial ststemenls are as follows".
Basis of a¢¢ounting
The financial statements have been prepared under the historical cost convention with items recognised
at Cost or transaction value unless otherwise stated in the relevant notes lo these financial slatemenls.
The financial statements have been prepared In accordan￿ with the Charities Statement of
Recommended Practice Icharilies SORP IFRS 10211, Financial Reporting Standard 102 IFRS 1021, the
Companies Act 2006 and the Charities Act 2011.
The Gregory Centre for Church Multiplication meets the definition of a public benefit entity under FRS
102. The financial statements are prepared in Sterling, which is the functional currency of the charity.
Monetary amounts are rounded to the nearest £.
Going concern
At the time of approving the financial statements, the Trustees have a reasonable expectation that the
charity has adequate resources lo continue in operational existence for the foreseeable future and that
there are no material uncertainties about the charity's ability lo continue. Thus the Trustees have
adopted the going concern basis of accounting for preparing the financial statements.
Income
Income is recognised when the charity is legally enlilled to il after any performance conditions have
been mel, the amounts can be measured reliably, and il is probable that income will be received.
Cash donations are recognised on receipt. Income tsx recoverable in relation to donations re￿iVed
under Gift Aid is recognised al the time of the donation.
Interest is recognised when receivable.
Expenditure
Expenditure is recognised once there is a legal or constructive obligation lo make a payment to a third
party, il is probably that selllemenl will be required and the amount of the obligation can be measured
reliably. All costs that cannot be identified as relating directly lo the Charity's principal activity are
calegorised as either support costs or governan￿ costs.
Pension costs
Payments to defined contribution benefit schemes are charyed as an expense as they fall due.
Fund accounting
The general fund comprises the accumulated surpluses of unrestricted incoming resources over
resources expended, which are available for use in furtherance of the general objectives of the charity.
Restricted funds are funds subject lo specific conditions imposed by donors. The purpose and use of
the reslricled funds are sel out In the notes lo the financial statements. Amounts unspent at the period
end are carried fonmard In the balance sheet.
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THE GREGORY CENTRE FOR CHURCH MULTIPLICATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023 Iconlinuedl
ACCOUNTING POLICIES Icontinuedl
Tangible fixed assets and depreciation
Tangible fixed assets are initially recognised al cost. After recogni(ion, under the cost model, tsngible
fixed assets are measured at cost less accumulated depreciation and any accumulated impairment
losses.
Depreciation Is charged so as lo allocate the cost of tangible fixed assets less their residual value over
their eslimaled useful lives, using the straighl-line method.
Depreciation is provided on the following basis..
Computer equipment
100910 Straight line
The computers were donated during the period and at the end of the year il was decided they had a
negligible value.
Debtors
Grants weivable and other debtors are included al the selllement amount due. Prepayments are valued
at the amount prepaid.
Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other shorl-temi liquid
investments with original maturities of three months or less, and bank overdrafts.
Creditors and provisions
Creditors and provisions are recognised where the charity has a present obligation arising from a past
event that wll probably result in the transfer of funds lo a third party and the amount due to settle the
obligation can be measured or estimated reliably. Creditors and provisions are recognised at their
settlement amount.
Financial instruments
The charity only has financial assets and liabilities of a kind that qualify as basic financial instruments.
Basic financial Instruments are initially recognised al transaction value and subsequently measured at
their selllement value.
DONATIONS AND LEGACIES
Unrestrlcted Restrlcted
2023
Donations
Grants receivable
Gift aid receivable
37,190
535,831
800
38,301
2,418,242
1,882,411
INCOME FROM CHARITABLE ACTIVITIES
Unrestricted Restricted
2023
Conferences
Book Sales
Subscriptions and Advertising
20,313
1,935
20,313
1,935
24
24
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THE GREGORY CENTRE FOR CHURCH MULTIPLICATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023 Iconlinuedl
EXPENDITURE ON CHARITABLE ACTIVITIES
Unrestricted
Restricted
2023
staff cost Inole 81
Contractors and consultants
Grants payable (note 61
Learning and Development
Publications and printing
Catering and hospitality
Visual production
Conferences and events
Other expenses
Staff training
Travel and subsistence
Support costs Inole 51
433,846
201,052
35,000
10,541
3,362
3,459
81,195
33,566
10,300
7,778
32,479
377,980
39,831
811,826
240,883
35,000
17,193
5,684
4,912
82,563
49,946
10,502
9,706
38,603
6,652
2,322
1,453
1,368
16,380
202
1,928
6,124
22 472
SUPPORT COSTS
2023
Communications
Bookkeeping services
Other office costs
Start-up costs
Depreciation
Governance costs
16,920
13,906
22,958
3,404
10,000
13080
GRANTS PAYABLE
Grants were issued lo the following partnering organisalions in order enable these partners to facililale
training sessions to achieve our church planting goals..
2023
All Saints Woodford Wells
The Diocese of Sl Edmundsbury and Ipswch
St George's Church, Leeds
St John the Baptist Church. Leicester
The Light College and Collective
The Well Sheffield Baptist Church
7,500
4,000
5,000
6,000
5,000
35 000
NET INCOME
2023
This is slated after charging..
Auditors, remuneration
audit
other services
9,000
4,080
00
Depreciation
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THE GREGORY CENTRE FOR CHURCH MULTIPLICATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023 Iconlinuedl
NET INCOME Icontinuedl
The company Is registered with the Charity Commission and is exempl from corporation taxation on its
charitable aclivits'es.
STAFF COSTS
2023
Gross Salaries
Benefit in kind
Social security costs
Pension contributions
637,772
5,550
58,843
109661
2023
No
The average number of employees during the period was..
There were no employees with emoluments exceeding £60,000.
None of the Trustees received remuneration for services as a trustee of the charity or as a director of
the company or reimbursement for expenses incurred in relation to the charity during the current period.
2023
Remuneration of key management personnel
TANGIBLE FIXED ASSETS
Computer
equipment
Cost
Additions
10,000
At 31 December 2023
10,000
Depreciation
Charge for the year
10,000
At 31 December 2023
10,000
Net Book Value
At 31 December 2023
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THE GREGORY CENTRE FOR CHURCH MULTIPLICATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023 Iconlinuedl
10 DEBTORS
2023
Trade debtors
Grant income receivable
Other debtors
6,558
57,364
16 188
11 CREDITORS.. Amounts falling due wfthin one year
2023
Trade creditors
Tax and scrial security costs
Other creditors
Accruals
14,085
22,770
14,230
28 333
12 RESTRICTED FUNDS
Balance
01.01.23
Balance
31.12.23
Income
Expenditure Transfer8
Estate work
National work
London Resource Churches
The Send
Storehouse
Research
Creative Growth
1,593
125,733
7,615
66,249
131,323
24,000
217 308
1 1,5931
1125,7331
1 10,5781
127.3881
157.6601
124,0001
1217 6621
12,9631
38.861
73,663
Estate work.. Supporting staff for Creative Growih London
National Work.. Supporting staff and consultants for Myriad
London Resource Churches.. Running costs
The Send". Consultants and running costs for The Send
Storehouse. Staff and running costs
Research.. Staff costs
Creative Growth.. Staff and running costs for Creative Growth London
Future income is expected lo cover the deficits.
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THE GREGORY CENTRE FOR CHURCH MULTIPLICATION
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023 Iconlinuedl
13 ANALYSIS OF NET ASSETS BETWEEN FUNDS
Unrestricted Restricted Totsl
2023
Current assets
Current liabilities
1,060,570
122,156 1,182,726
1 664691 1129491 1 79418
14 RELATED PARTY TRANSACTIONS
There were the following related party transactions during the period..
£4,000 was granted to The Diocese of Sl Edmundsbury and Ipswch, of which S Gaze is the
Archdeacon.
£1,711 was paid lo The Parish of Sl Mary Woolnoth and St Edmund the King, of which R Thorpe is a
trustee, for hire of facilitieslroom booking.
£645 was paid to a trustee's family member for work as a contractor.
15 NON-AUDIT SERVICES PROVIDED BY AUDITOR
In common with many charities of our size and nature we use our auditor to assist with the preparation
of the financial statements.
Page 19