## **DEO GLORIA TRUST**
**FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025**
**Trustees** D H Frampton R Carswell A Wingfield Digby J Duffin D Norbury J Robb
**Charity number 243305**
## **DEO GLORIA TRUST FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025**
|**Contents**|**Page**|
|---|---|
|Report of the Trustees|1-5|
|Report of the Auditors|6-8|
|Consolidated Statement of Financial Activities|9|
|Consolidated Balance Sheet|10|
|Balance Sheet|11|
|Consolidated Cash Flow Statement|12|
|Notes to the Financial Statements|13-18|
## **DEO GLORIA TRUST**
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2025
The trust is registered as a charity under reference number 243305.
The trustees during the year and to the date of signing the report were:
Mr D H Frampton (Chairman) Mr R Carswell Mr J Duffin Rev A Wingfield Digby Mr D Norbury Mr J Robb
Key Management Personnel: The trustees Mr A Fry – Executive Officer
The directors of Outreach Properties Limited, the nominee company, during the year were:
Mr D H Frampton Mr J Duffin Mr A Fry Mr E Thompson (resigned 1 December 2024)
Mr D H Frampton is the registered shareholder of the shares of Outreach Properties Limited which he holds on behalf of the Deo Gloria Trust.
## **Registered Office**
11 Dormer Place, Leamington Spa, CV32 5AA
The principal professional advisers to the trust are:
**Bankers:** National Westminster Bank plc 143 High Street Bromley Kent BR1 1JD **Property Managers:** Baxter Philips Northside House 69 Tweedy Road Bromley Kent BR1 3WA **Solicitors** : Rothera Bray Spa Place 36-42 Humberstone Road Leicester LE5 0AE **Auditor** : Xeinadin Audit Ltd 5 Robin Hood Lane Sutton Surrey SM1 2SW
Page 1
## **DEO GLORIA TRUST**
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2025
## **Structure, governance and management**
The Deo Gloria Trust was created by a trust deed dated 27th March 1965. Trustees are appointed by the continuing trustees.
Training is provided to new trustees as appropriate having regard to their existing knowledge and experience as trustees.
The day-to-day management of the trust’s affairs has been delegated to the Executive Officer role which during the year was held by Mr A Fry. The Executive Officer is the only paid member of key management personnel, and their pay is reviewed each January and is benchmarked against Upper Teachers Level 1 (U1) salary.
Decisions on matters of policy and grants to beneficiaries are made by the trustees either at meetings (physical or virtual) of the trustees or through correspondence between them.
## **Risk Management**
The trustees have considered the levels of various risks relating to the activities of the trust and the investments held to fund those activities. They are satisfied with the arrangements made to minimise, mitigate and insure against those risks but have agreed to keep the situation under regular review.
The principal risks that the trust faces and the plans to mitigate them are:
1. Fraudulent grant applications –
- All grants must come through the online grant portal.
- Only make grants to UK registered charities.
- Individual applicants have to come through a UK registered charity.
- All applications must include a senior sponsor.
2. Challenge to the award process claiming bias or prejudice – all grant applications follow the same review process; all awards are made at a quorate trustee. We are clear what our Trust Deed allows.
3. Conflicts of interest – trustees are required to declare their interest in any organisation that is applying for a grant – they are unable to vote for the application when considered.
4. Tenants defaulting on their rent – we use a professional property management company to vet new tenants and manage them correctly.
## **Consolidation**
The Trust has a wholly owned subsidiary, Outreach Properties Limited, which acts as nominee holder for the properties of the Trust. The results for the year ended 31st March 2025 have been consolidated on a lineby-line basis into these financial statements.
Outreach Properties Ltd had net assets of £562 at the balance sheet date.
There are no connected charities.
Page 2
## **DEO GLORIA TRUST**
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2025 (continued)
## **Objectives and activities**
## Objects
The objects of the trust are to seek the glory of God by encouraging the furtherance and preaching of the gospel of our Lord Jesus Christ.
## Policies
The trustees seek to achieve the objects of the trust by the production and promotion of literature and by making gifts to Christian societies and missionaries.
## Public benefit
The trustees have taken into account the Charity Commission’s general guidance on public benefit and the specific guidance on the advancement of religion.
## **Achievements and performance**
The trust continues to work along-side many other Christian Agencies, and has continued to support outreach projects through grants to fund work carried out by other charitable groups across the UK and abroad.
The trust is a virtual organisation with the registered office now being an address in Leamington Spa.
## **Financial review**
Details of the financial position of the trust are set out on pages 8 to 16 and incorporate a revaluation of the trust's investments to market value at 31st March 2025.
The trust's major source of income is from properties and investments. Income from this source for the year was £524,404 (2024: £490,357). The cost of raising funds including expenses of maintaining and managing the properties and investments amounted to £142,550 (2024: £102,805). The trust does not engage in any public fundraising.
Expenditure on charitable activities amounted to £399,742 (2024: £375,450). Expenditure for the year exceeded income by £17,888 (2024: £107,616). After including a gain on investment assets amounting to £153,085 (2024: gain: £597,973), there was a net increase in trust funds of £135,197 (2024: net increase of £610,075)
The income of the trust and expenditure on activities and grants was broadly in line with the budgeted objectives for the year.
## Reserves Policy
The trustees aim to distribute the majority of the income received each year, maintaining a reserve of £10,000. Capital funds are retained to ensure a continuing income stream. The total reserves of the charity at the year end were £8,607,890 (2024:£8,472,693) of which £8,489,033 (2024:£8,355,947) were held in investments and tangible assets leaving £118,857 (2024:£116,746) of available reserves. Any reserves in excess of the policy will be distributed.
## Investment Policy
The trustees hold a substantial portfolio of investment properties which were received on liquidation in exchange for shares transferred to the trust by the settlor. These properties have provided a steadily increasing income over the years with substantial capital appreciation. The trustees have taken opportunities to dispose of certain properties on advantageous terms and invested the proceeds with BNY Mellon Investment Management and M&G Investments to diversify the investment portfolio. All properties and listed investments are managed by professional advisers. Investments in unlisted companies are restricted to those whose activities are in accordance with the objects of the trust.
Page 3
## **DEO GLORIA TRUST**
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2025 (continued)
## Investment policy (continued)
During early 2025 the trustees approved the closing of the BNY Mellon Investment and the transfer of the remaining funds to M&G Investments.
The trustees oversee the financial activities through their quarterly meetings. The Executive Officer supervises the day-to-day management of financial activities and report on any significant variations from anticipated results.
We invested in M&G Charifund some years ago – this is set up specifically for charities. We have been comfortable with the level of return. We would undertake due diligence of an investment fund when we initially open a fund.
## Grant Policy
All applications for a grant must be made through the Good Grants on-line grant management system and must be for projects which initiate or support activities which promote the Gospel of our Lord Jesus Christ. Grants are usually given in the range of £1000 to £10,000.
The trust only accepts grant applications from UK registered charities (they must be registered with the Charity Commission of England & Wales, Scotland or Northern Ireland). The trust is not able to accept grant applications from Excepted Charities or Community Interest Groups (CIC)s. If applicants are from outside the UK the trust will only accept an application via a partner organisation that is a UK registered charity.
All grants are made to UK registered charities, and we aim to ensure that monies are paid to bank accounts controlled by the applying charity.
We request that charities only make one application per year, and all grants are awarded at the discretion of the Trustees.
## **Plans for future periods**
The trust is currently engaged in the redevelopment of three properties, two have planning permission granted.
The trustees are investigating the growth of the property portfolio through becoming a destination point for people wishing to gift (or preferentially sell) property to gospel work. They are also investigating taking over non-listed churches that are closing.
Page 4
## **DEO GLORIA TRUST**
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST MARCH 2025 (continued)
## **Trustees’ responsibilities**
The trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the trust and of the incoming resources and application of resources of the trust for that period. In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and apply them consistently
- observe the methods and principles in the Charities SORP
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the trust will continue in existence.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the trust and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the trust and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
FOR AND ON BEHALF OF THE TRUSTEES
D H Frampton **Trustee**
Date: 29 January 2026
Page 5
INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES OF **DEO GLORIA TRUST**
## **Opinion**
We have audited the financial statements of Deo Gloria Trust (the “Charity”) and its subsidiary (the “Group”) for the year ended 31 March 2025 which comprise the consolidated statement of financial activities, the consolidated and parent balance sheets, the consolidated cash flow statement and notes to 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 Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion, the financial statements:
- give a true and fair view of the state of the Group’s and of the Charity’s affairs as at 31 March 2025 and of the Group’s incoming resources and application of resources for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;
- have been prepared in accordance with the requirements of the Charities Act 2011.
## **Basis for opinion**
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities 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 Group and parent Charity in accordance with the ethical requirements that are relevant to our audit of the financial statements 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 to provide a basis for our opinion.
## **Conclusions relating to going concern**
In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group’s and Charity’s ability to continue as a going concern for a period of at least 12 months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
## **Other information**
The other information comprises the information included in the annual report, including the trustees’ report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
Our responsibility is to 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 course of 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 this gives rise to a material misstatement in the financial statements themselves. 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.
Page 6
INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES OF **DEO GLORIA TRUST (continued)**
## **Matters on which we are required to report by exception**
In the light of the knowledge and understanding of the Group and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees’ report included within the trustees’ report.
We have nothing to report in respect of the following matters in relation to which the Charities Act 2011 requires us to report to you if, in our opinion:
- adequate and proper 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.
## **Responsibilities of the trustees**
As explained more fully in the trustees’ responsibilities statement, the trustees 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 they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the Group’s and the Charity’s ability to 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 Group or Charity or to cease operations, or have no realistic alternative but to do so.
## **Auditor’s responsibilities for the audit of the financial statements**
We have been appointed as auditor under section 151 and report in accordance with the Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to 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 conducted in accordance with ISAs (UK) will always detect a material misstatement when it 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 to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Based on our understanding of the group, we identified that the principal risks of non-compliance with laws and regulations related to financial reporting legislation, lettings legislation and property health & safety regulations and we considered the extent to 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 of the financial statements such as the Charities Act 2011.
We assessed the susceptibility of the charity's financial statements to material misstatement, 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 to valuation of freehold investment property, presentation of separately disclosed items and management override of controls.
Page 7
INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF
DEO GLORIA TRUST (continued)
In response to th8 risks identified we designed procedures which included. but were not limited lo- challenging the
valuation of investment property, agreeing financial statement disclosures to underlying supporting documentation and
evaluating the charity's Internal controls.
There are inherent limitations in the audit procedures described above. The more removed that laws and regulations
are from financial transactions, the less likely il is that we would become aware of non-compliance. Material
misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve
delib8rat8 concealment or collusion.
A further description of our responsibilities for the audit of the financial statemenls is located on the Financial Reporting
Council's w&bsite at: www.frc.org.uklauditorsresponsibilities. This description forms part of our auditor's report.
Use of our report
This report is made solely lo the Group's and Charity's truslees, as a body, in accordance with Part 4 of the Charities
(Accounts and Reports} Regulations 2008. Our audit work has been undertaken so Ihal we might stale to the Group's
and Charity's trustees those matters we are reqLJired lo stste to them in an auditor's r8POrt and for no other purpose. To
the full8St extent permitted by law, we do not accept or assume responsibility to anyone other than the Group and
Charity and their trustees as a body, for our audit work, for this report, or for the opinions we have formed.
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Page 8
## **DEO GLORIA TRUST**
CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2025
|**_Note_**
**Income from:**
Investment income
2
**Total income**
**Expenditure on:**
Raising funds
3
Charitable activities
4
**Total expenditure**
Net gains on investment assets
**Net income**
**Reconciliation of Funds:**
Total funds brought forward
**Total funds carried forward**|**_2025_**
**_£_**
524,404
524,404
148,700
393,592
542,292
153,085
135,197
8,472,693
8,607,890|**_2024_**
**_£_**
490,357
490,357
102,805
375,450
478,255
597,973
610,075
7,862,618
8,472,693|
|---|---|---|
Page 9
## **DEO GLORIA TRUST**
CONSOLIDATED BALANCE SHEET AS AT 31ST MARCH 2025
|||**_2025_**|**_2024_**|**_2024_**|
|---|---|---|---|---|
||**_Note_**|**_£_**
**_£_**|**_£_**|**_£_**|
|**Fixed assets**|||||
|Tangible assets|7|500,000||500,000|
|Investments|8|7,989,033|7,855,947||
|||8,489,033|8,355,947||
|**Current assets**|||||
|Debtors and prepayments|9|95,748|90,424||
|Cash at bank and in hand|10|186,072|181,944||
|||281,820|272,368||
|**Creditors**: Amounts falling due|||||
|within one year|11|(162,963)|(155,622)||
|**Net current assets**||118,857|116,746|116,746|
|**Net assets**||8,607,890|8,472,693||
|**Unrestricted Trust Fund**||8,607,890|8,472,693||
The financial statements were approved by the trustees on 29 January 2026 and signed on their behalf by:
## **D H FRAMPTON**
## **Trustee**
Page 10
## **DEO GLORIA TRUST**
BALANCE SHEET AS AT 31ST MARCH 2025
|||**_2025_**|**_2024_**|**_2024_**|
|---|---|---|---|---|
||**_Note_**|**_£_**
**_£_**|**_£_**|**_£_**|
|**Fixed assets**|||||
|Tangible assets|7|500,000||500,000|
|Investments|8|7,990,633|7,857,547||
|||8,490,633|8,357,547||
|**Current assets**|||||
|Debtors and prepayments|9|100,795|101,741||
|Cash at bank and in hand|10|108,189|104,942||
|||208,984|206,683||
|**Creditors**: Amounts falling due|||||
|within one year|11|( 90,692)|( 90,502)||
|**Net current assets**||118,292|116,181|116,181|
|**Net assets**||8,608,925|8,473,728||
|**Unrestricted Trust Fund**||8,608,925|8,473,728||
The financial statements were approved by the trustees on 29 January 2026 and signed on their behalf by:
## **D H FRAMPTON**
## **Trustee**
Page 11
## **DEO GLORIA TRUST**
## CONSOLIDATED CASH FLOW STATEMENT YEAR ENDED 31ST MARCH 2025
|**Net income**
_Adjustments for:_
Gains on investments
Investment income
increase in debtors
Increase in creditors
**Net cash used in operating activities**
**Cash flows from investing activities**
Investment income
Proceeds from sale of investments
Purchase of investments
10
**Net cash provided by investing activities**
**Change in cash and cash equivalents in the year**
Cash and cash equivalents at 1st April 2024
**Cash and cash equivalents at 31st March 2025**|**_2025_**
**_£_**
**_£_**
135,197
(153,085)
(524,404)
(5,324)
7,341
(540,275)
524,404
94,610
( 74,611)
544,403
4,128
181,944
186,072|**_2024_**
**_£_**
**_£_**
610,075
(597,973)
(490,357)
( 55,572)
4,638
(529,189)
490,357
595,000
(595,630)
489,727
( 39,462)
221,406
181,944|
|---|---|---|
Page 12
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025
## **DEO GLORIA TRUST**
## 1 **ACCOUNTING POLICIES**
## (a) **Accounting convention**
The financial statements have been prepared under the Charities Act 2011 and in accordance with the Charities’ Statement of Recommended Practice (Charities SORP (FRS 102) and Financial Reporting Standard 102 (FRS 102). The financial statements are drawn up on the historical cost basis of accounting, as modified by the revaluation of fixed asset investments. The financial statements are prepared in pounds sterling, rounded to the nearest pound. The financial statements are prepared on a going concern basis and there are no material uncertainties about the charity’s ability to continue.
Deo Gloria Trust meets the definition of a public benefit entity under FRS 102.
## (b) **Consolidation**
The consolidated accounts include the results of the wholly owned subsidiary and have been consolidated on a line by line basis.
## (c) **Depreciation**
The trustees consider that the residual value of the freehold property is sufficiently high to render any depreciation immaterial and accordingly no depreciation is charged in these accounts.
## (d) **Income**
All income is accounted for when it is receivable.
## (e) **Expenditure**
(i) Grants are recognised when they are approved and commitments are made to beneficiaries.
(ii) Support costs are apportioned in proportion to the direct costs associated with each activity.
## (f) **Investments**
Listed investments are shown at market value. Investment properties are shown at trustees’ valuation. Changes in market value are shown as unrealised gains and losses in the statement of financial activities.
## (g) **Debtors**
Tax recoverable and other debtors are included at the settlement amount due. Prepayments are valued at the amount prepaid.
## (h) **Cash and current asset investments**
Cash and current asset investments includes cash and short term highly liquid investments with a short maturity of three months or less from the date of opening of the deposit.
## (i) **Creditors and provisions**
Creditors and provisions are recognised where the charity has a present obligation arising from a past event that will probably result in the transfer of funds to 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.
## (j) **Deferred income**
Income that has been received but not yet earned in respect of rent is treated as deferred income.
Page 13
## **DEO GLORIA TRUST**
## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025 (continued)
|2
**INVESTMENT INCOME (All UK)**
Investment properties
Listed investments
3
**RAISING FUNDS**
_Investment property_
Repairs and maintenance
Legal fees
Professional fees
Bad debts
4
**CHARITABLE ACTIVITIES**
**Grant**
**funding**
**of activities**
**£**
Gospel promotion
356,000
_Support costs comprise:_
Staff costs
Travel and general expenses
Computer systems
Auditor’s remuneration - audit
Auditor’s remuneration - accountancy
5
**GRANTS TO INSTITUTIONS**
A Passion for Life
AL Massira Trust
Aldates Community Transformation
Altitude Missions
Arab World Ministries
Armed Forces Christian Union
Association of Evangelists
Beloved
Bethel Evangelical Baptist Church
Bethel Free Church Leeds
Christians in Sport
CMI Aid
CRESS
Derby Urban Church
Discipleship Tech
E Merge UK
Emmanuel Evangelical
Eurovangelism
Festive|**Support**
**costs**
**£**
37,592|**_2025_**
**_£_**
435,926
88,478
524,404
**_2025_**
**_£_**
55,383
28,462
25,125
39,730
148,700
**_2025_**
**£**
393,592
19,889
3,381
4,374
5,880
4,068
37,592
**_2025_**
**_£_**
4,000
7,000
4,000
4,000
-
-
50,000
5,000
-
-
-
10,000
-
5,000
-
4,000
5,000
5,000
7,500|**_2024_**
**_£_**
394,845
95,512
490,357
**_2024_**
**_£_**
49,181
30,703
22,921
-
102,805
**_2024_**
**£**
375,450
16,421
5,987
6,407
5,520
1,865
36,200
**_2024_**
**_£_**
-
5,000
-
-
5,000
4,000
30,000
-
4,000
3,500
5,500
10,000
5,000
-
4,000
-
-
-
-|
|---|---|---|---|
|||||
Page 14
## **DEO GLORIA TRUST**
## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025 (continued)
## 5 **GRANTS TO INSTITUTIONS (continued)**
|Farming Christian Link
Firm Foundation Trust
Friends International Ministries
Friends of Turkey
Hand to Mouth
GLO Europe
Kerygma 180
Kick London
Kids Alive International
Kirkcaldy Area Reachout Trust
Lampeter Evangelical Church
London City Mission
Middle East Media
Milton Keynes Bridgebuilder Trust
Mission Without Borders
Moldovan Mission
Nidderdale Community Church
Pemberton Free Grace Church
Peoples International
Prison Fellowship
Programme for Applied Christian Education (PACE)
Salem Congregational Church (Yorkshire Camps)
SASRA
SAT 7
Scripture Union
Slavic Gospel Association
South Craven Evangelical Church
South West Youth Ministries
Spinnaker Trust
Spirit of Plymouth (Radio) Ltd
SportsReach
Starfish Asia
The Cornerstone Works
The Cross Teach Trust
The Family Trust
The Word for the World UK
UBM
UFM Worldwide
Wales Leadership Forum
Welcome Churches
West Cambridge Church
Woodgreen Evangelical Church
WorldShare
Yorkshire Camps
Donations under £3,000 (Not listed above)
**Total institutional grants**|**_2025_**
**£**
-
5,000
20,000
8,000
-
6,000
5,000
5,000
5,500
4,000
-
-
5,000
4,000
-
4,000
5,000
5,000
3,996
3,766
-
3,996
-
6,000
-
-
5,000
-
5,000
5,000
4,500
-
-
4,000
-
-
5,000
3,667
12,250
-
5,000
4,400
-
6,000
269,575
86,425
356,000|**_2024_**
**£**
9,500
-
-
8,000
5,000
-
10,000
-
5,500
-
4,000
5,000
-
-
4,000
6,000
-
-
4,000
-
4,000
4,000
3,000
10,000
5,000
10,000
-
5,000
-
5,000
-
5,000
5,000
7,000
5,000
5,000
-
-
8,000
6,500
-
-
7,000
5,500
237,000
102,300
339,300|
|---|---|---|
Page 15
## **DEO GLORIA TRUST**
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025 (continued)
|6
**EMPLOYEES' AND TRUSTEES' TRANSACTIONS**
Gross salaries
Employer’s national insurance
Pension costs
The average number of employees during the year was:
There were no employees with emoluments over £60,000 in the year.|**_2025_**
**_£_**
19,492
-
397
19,889
**_2025_**
**_No._**
1|**_2024_**
**_£_**
16,050
-
294
16,344
**_2024_**
**_No._**
1|
|---|---|---|
||||
The employee benefits of Key Management Personnel in the year were £19,889 (2024: £16,344).
None of the trustees received remuneration from the charity during the year. Trustees were reimbursed travel expenses of £1,231 (2024:£nil) during the year.
There were no related party transactions in the year.
|7
**TANGIBLE ASSETS**
**_Freehold_**
**_Property_**
**£**
**Group and Trust**
Cost at 1st April 2024
500,000
Disposals
At 31st March 2025
500,000
**Depreciation**
At 1st April 2024
-
Released on Disposal
-
At 31st March 2025
-
**Net book value**
At 31st March 2025
500,000
At 31st March 2024
500,000|**_Total_**
**£**
500,000
500,000
500,000
-
-
-
500,000
500,000|
|---|---|
Page 16
## **DEO GLORIA TRUST**
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025 (continued)
## 8 **INVESTMENTS**
- (a) **Group**
|**_Investment_**
**_Properties_**
**Market value**
**_£_**
At 1st April 2024
6,368,500
Additions
-
Disposals
-
Net gains on revaluation
90,000
At 31st March 2025
6,458,500
**Historical cost**
2,265,968|**_Listed_**
**_Investments_**
**_£_**
1,487,447
74,611
( 94,610)
63,085
1,530,533
1,444,611|**_Total_**
**_£_**
7,855,947
74,611
( 94,610)
153,085
7,989,033
3,710,579|
|---|---|---|
- (b) **Trust**
|**_Subsidiary Investment_**
**_Properties_**
**Market value**
**_£_**
At 1st April 2024
1,600
6,368,500
Additions
-
-
Disposals
-
-
Net gains on revaluation
-
90,000
At 31st March 2025
1,600
6,458,500
**Historical cost**
100
2,265,968|**_Listed_**
**_Investments_**
**_£_**
1,487,447
74,611
( 94,610)
63,085
1,530,533
1,444,611|**_Total_**
**_£_**
7,857,547
74,611
( 94,610)
153,085
7,990,633
3,710,680|
|---|---|---|
The market value of investment properties is based on a valuation provided by Baxter Philips, Chartered Surveyors FRICS.
The subsidiary undertaking is Outreach Properties Ltd (company number 01055425). Its principal activity is acting as nominee for the charity and its registered office is 11 Dormer Place, Leamington Spa, CV32 5AA. At 31st March 2025 it had net assets of £562 and its result was £nil for the year. The trust owns 100% of the share capital.
|9
**DEBTORS AND PREPAYMENTS**
(a)**Group**
Trade debtors
Other debtors
Prepayments and accrued income
(b)**Trust**
Trade debtors
Other debtors
Due from subsidiary
Prepayments and accrued income
|**_2025_**
**_£_**
70,441
16,119
9,188
95,748
70,441
16,119
5,047
9,188
100,795||
|---|---|---|
Page 17
## **DEO GLORIA TRUST**
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025 (continued)
|10
**CASH AT BANK AND IN HAND**
(a)**Group**
Cash at bank
Cash in hands of agents
(b)**Trust**
Cash at bank
Cash in hands of agents
11
**CREDITORS**: Amounts falling due within one year
(a)**Group**
Other creditors
Accruals
Deferred income
(b)**Trust**
Other creditors
Accruals
Deferred income
_Deferred income_
Opening balance
Rents relating to current year
Rents relating to future periods
Closing balance|**_2025_**
**_£_**
90,964
95,108
186,072
13,081
95,108
108,189
**_2025_**
**_£_**
75,344
8,400
79,219
162,963
3,073
8,400
79,219
90,692
**_2025_**
**_£_**
70,719
(70,719)
79,219
79,219|**_2024_**
**_£_**
103,338
78,606
181,944
26,336
78,606
104,942
**_2024_**
**_£_**
71,223
13,680
70,719
155,622
6,103
13,680
70,719
90,502
**_2024_**
**_£_**
60,874
(60,874)
70,719
70,719|
|---|---|---|
Page 18