OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2025-12-31-accounts

ANNUAL REPORT 2025

LONDON CITY MISSION Company Number: 04284615 Charity Number: 247186

1. LETTER FROM THE CEO AND CHAIRMAN

CONTENTS

1. LETTER FROM THE CEO AND CHAIRMAN 3

----- Start of picture text -----
2. STRATEGIC REPORT 5
2A. OUR PURPOSE AND VISION 5
2B. WHAT MATTERS TO US 9
2C. MISSIONAL ACTIVITIES 9
2D. WIDER PARTNERSHIP IN MISSION 21
2E. THE CONTEXT OF THE MINISTRY 23
2F. OUR IMPACT 29
2G. STRATEGIC FOCUS AND FUTURE DIRECTION 32
----- End of picture text -----

3. OPERATIONAL REPORT 33 3A. ENABLING MISSION 33 3B. PROPERTY MANAGEMENT 34 3C. FINANCIAL REVIEW 36 3D. COMPLIANCE 38 3E. PRINCIPAL RISKS AND UNCERTAINTIES 39 4. GOVERNANCE 40 4A. GOVERNANCE OF THE LONDON CITY MISSION 42 4B. SUBSIDIARY COMPANIES 42 4C. MANAGEMENT STRUCTURE 42 4D. PAY POLICY FOR SENIOR STAFF 43 4E. DIRECTORS’ RESPONSIBILITIES 43 4F. DIRECTORS’ STATEMENT 43 5. INDEPENDENT AUDITORS’ REPORT 44 6. GROUP STATEMENT OF FINANCIAL ACTIVITIES 48 7. GROUP & PARENT CHARITY BALANCE SHEET 50 8. GROUP CASHFLOW STATEMENT 51 9. NOTES TO THE ACCOUNTS 53

DEAR FRIEND,

We give thanks to God for His continued faithfulness to The London City Mission (LCM) during a year of significant transition to a new strategy with a renewed spiritual openness. As we reflect on 2025, we are reminded that while the winds of our city change, the anchor of the gospel remains firm.

The Lord has been busy at work in London. People like Ben, a national boxing champion whose life went off the rails ending up in prison. Desperate to change, he joined the Bible studies that LCM and church volunteers hold inside the prison. Ben gave his life to Jesus. He says, “…on the outside, I was a prisoner – but that night in prison I got set free!” On release, Ben wanted to live God’s way. Through the support of our gospel partners, he was surrounded with Christian fellowship and support in all aspects of his life, was plugged into a church and he is sharing Jesus with everyone he meets – 14 of his family now come to church. Praise the Lord!

Our calling is not to engage in the shifting politics of our day but to remain steadfast as evangelists, equipping the church for works of service and helping believers gain the confidence to reach out to their own communities. By God’s grace we’re seeing the impact of this in our London church partnerships with 83% of missional team members trained by LCM missionaries feeling significantly more inspired to pray for gospel opportunities, and 77% growing in confidence to share their faith. One missionary coming alongside a church recently shared that church members now knock on over 1,200 doors regularly with many residents since attending a church service.

This year, our focus has also sharpened on envisioning a wider group of churches for mission through our training and digital resources. We are delighted to see the fruit of these efforts through materials like Sharing Jesus with Muslims , a video course for churches, seeing a remarkable response, with 100 churches already registering their interest to equip their congregations for outreach.

Our financial journey this year has required disciplined stewardship. While property maintenance and rising costs presented challenges, we have seen the Lord’s provision in remarkable ways. We successfully completed four property sales totalling £7.6 million, providing the liquidity needed for the year ahead. Legacy income has also been a blessing with an extra £350,000 arriving at the end of the year, providing a timely encouragement at a point when we had been praying for provision. We were also encouraged by the announcement in December of a truly transformative gift, which will be accounted for in the 2026 financial year. Together, these provisions give us the assurance to pursue our vision for London. Though we have stretching ambitions, we face the future with confidence in the Lord’s provision.

As we move forward, we remain utterly dependent on God in our mission to ignite a movement of mission in the local church to people on the margins. We give thanks for our partners in the gospel who generously give towards our efforts, and we continue to depend on much prayer and wisdom from the Lord as we press ahead.

Let us continue to serve Christ faithfully, trusting His promise that He will be with us always. Yours in Christ Jesus,

GRAHAM MILLER Chief Executive

RICHARD MONTGOMERY Chairman of the Board of Trustees

2

3

“There are so many people who pass through these streets who don’t know about Jesus. LCM has helped a lot. Not only supporting the evangelism that happens on the book table, but also by training people. With the help of LCM, we are encouraging the church to do evangelism.”

PASTOR IMMANUAL, HOLY TRINITY HOUNSLOW

“One of the things I love about LCM, they know that when you come into a community, you’ve got to understand it. We found their mapping exercise of the local area invaluable – especially understanding its spiritual history. It’s helped so much in the way we relate to people here.”

ED DIX, MINISTER, ST. LUKE’S CHURCH, MILLWALL

----- Start of picture text -----
2. STRATEGIC REPORT
----- End of picture text -----

2. STRATEGIC REPORT

2A. OUR PURPOSE AND VISION

We long to see Jesus known by people on the margins. God’s urgent message of salvation is for everyone, but His heart for those on the margins is especially clear in scripture.

The Spirit of the Sovereign Lord is on me, because the Lord has anointed me to proclaim good news to the poor.

“We had a team and structure that worked… that time at Webber Street gave us the confidence to do what we’re doing now. John Stott bought the Clubhouse to serve the local community, and it’s amazing to see what’s happening. LCM has had a massive impact — without them, I don’t know if we would have had this ministry.”

IAN CAMPBELL,

ALL SOULS LOCAL ACTION NETWORK (ASLAN)

“We have tried before to encourage the church in evangelism. But this never really took off until London City Mission came alongside us. The partnership got our members to see that they have a duty to share the gospel. But also, that God gives them the ability to do this!”

STEPHEN AGILINKO, PASTOR, WEST GREEN BAPTIST CHURCH

He has sent me to bind up the broken-hearted, to proclaim freedom for the captives and release from darkness for the prisoners, to proclaim the year of the Lord’s favour and the day of vengeance of our God, to comfort all who mourn, and provide for those who grieve in Zion — to bestow on them a crown of beauty instead of ashes, the oil of joy instead of mourning, and a garment of praise instead of a spirit of despair.

ISAIAH 61:1-3 (NIV)

As much as ever, London is home to people whose everyday experience is one of rejection, helplessness and often shame – those who are overlooked, struggling, and pushed to the edges of society. People who face daily challenges, often invisible to others – they lack resources, forced to get by from one day to the next.

they once enjoyed, now replaced by loneliness in their older age. They lack the knowledge of ‘the right thing to say’ when they enter a new environment. The language skills to find help for their family.

It’s clear throughout the Bible that God has a heart for people who are marginalised and overlooked – people whose physical poverty can help expose their helplessness before Him.

But it goes deeper than that.

They lack status, connections, community… options. Things many of us take for granted. They lack the family member to call when they face eviction from their home. The friend waiting for them outside the prison gates. The community

We know it’s here, and only here – recognising our helplessness before a Holy God – that Jesus meets us and invites us to repentance and into eternal hope in Him.

4

5

----- Start of picture text -----
2. STRATEGIC REPORT
----- End of picture text -----

Tragically it’s in London’s most deprived communities that people are least likely to hear this invitation. Here, Jesus is someone they once heard about a long time ago, just another prophet, a myth… or a complete mystery.

And yet it’s also here, often on the doorstep of these communities, or just around the corner, that a source of eternal hope exists.

The local church.

The local church is God’s plan for sharing the eternal hope of the gospel. To be a city on a hill, a light to the world.

THE LOCAL CHURCH IS GOD’S PLAN FOR SHARING THE ETERNAL HOPE OF THE GOSPEL. TO BE A CITY ON A HILL, A LIGHT TO THE WORLD.

And it’s the local church that holds incredible potential to reach the very people so often forgotten by the world. To go out “into the streets and alleys of the town” (Luke 14:21), seeking out the poor, the overlooked and the broken, and calling them to the feast of God’s kingdom.

Wherever we gather as believers, our location is no accident. We’ve been placed by God to draw the people around us into relationship with Him and into the family of His church. Our neighbourhood is our mission field – and we carry the best news in the world.

Yet too often, something gets in the way. It’s possible to go through the life of a church without truly connecting with those just outside our doors. Many of our neighbours may not even know we exist. That’s why, as LCM, we come alongside Christians across London and beyond – to

encourage, equip and support them to step into the purpose God has given them. To help unlock the amazing potential He has placed within them. To ignite a movement of mission in the local church.

We want to see churches thriving and flourishing as they grow in number and diversity. Through partnership, building them up to reflect the many cultures and backgrounds of the city, and to become a more powerful witness of God’s love to anyone looking in.

Working as a catalyst alongside local churches in the most deprived areas of London, and following the leading of the Holy Spirit, we help to build sustainable missional teams that take the lead in building long-term connections with the community outside the church, that are designed to continue on long after we step back.

Together we follow Christ’s example in seeking out people – especially those overlooked by others – and sharing the gospel in a relevant and loving way. We support the church in pursuing intentional, committed relationships, where Christians can effectively share their faith in Jesus, and demonstrate it practically.

People from marginalised backgrounds have a valued place as part of God’s people, and an important contribution to bring to our church families. So, we help churches build welcoming cultures so that when someone accepts an invitation, it’s a place where they can grow and thrive… regardless of their background.

All that we do is rooted in prayer, completely dependent on the work of the Holy Spirit. And we pray that as the gospel is heard and experienced, many men, women and children – who may never previously have stepped into a church – would come to follow Jesus… and invite others to do the same.

“I HAD NO REASON NOT TO FOLLOW JESUS.”

Although he had attended Stockwell Baptist Church for years, Zion (pictured) still wrestled with uncertainty about sin, baptism and who God is.

During the week long residential run in partnership with London City Mission, clear Bible teaching and time away from everyday pressures helped things finally click. “The teaching on forgiveness, the cross, grace… it made sense,” Zion says. By the end of the week, he told his youth leaders that he wanted to be baptised. A few weeks later, he shared his testimony at the front of his church – one of six young people baptised from the congregation last summer.

The time away proved a turning point for Stockwell Baptist Church, which had lacked a structured youth ministry just a few years earlier. Through partnership with LCM missionaries, the church gained confidence to disciple young people, invest in relationships and reach families in the surrounding community.

HEAR THE FULL STORY AT LCM.ORG.UK/ZION

6

7

----- Start of picture text -----
2. STRATEGIC REPORT
----- End of picture text -----

2B. WHAT MATTERS TO US

The London City Mission (LCM) has a set of values which shape the way we work and relate to each other, to the church and to the people and communities we engage with.

OUR VALUES ARE:

ROOTED IN CHRIST CHRIST-LIKE LOVE GOD-GLORIFYING SPIRIT-INSPIRED We are prayerfully We look not to our EXCELLENCE COURAGE AND dedicated to doing own interests but to We pursue the best PERSEVERANCE God’s will and living the interests of others that we can be to We stand firm, push His way, according to because we are glorify God and serve through and pay the His word. united as brothers and each other in all we price for the sake of sisters in Christ. do. Christ and the gospel.

2C. MISSIONAL ACTIVITIES

We exist to see churches across London, and beyond, confidently and effectively sharing the good news of Jesus, especially with people otherwise unlikely to hear it.

To make this a reality, we undertake a number of core activities as a mission.

----- Start of picture text -----
PRAYER
CHURCH
MOBILISATION
THOUGHT
TRAINING
LEADERSHIP
----- End of picture text -----

PRAYER

To see people on the margins of our churches come to know Jesus we are completely reliant on the work of the Lord. And so, our first and most foundational ‘activity’ as a mission is prayer – in partnership with Christians across the UK and beyond.

We provide resources, such as our daily prayer guide and our weekly online prayer meetings, to our growing praying community of nearly 6,000 people.

On a daily basis, prayer is woven into every activity we do as a mission, but we also set aside specific times for it – gathering each morning to pray and dedicating a full week at the start of the year to seek the Lord together.

CHURCH MOBILISATION

In the areas of London least reached by the gospel, there are hundreds of churches, all with brilliant potential to share the life-saving news of Jesus. Our trained urban missionaries come alongside these churches, wherever they are on that journey, to support them to fulfil their potential.

8

9

2. STRATEGIC REPORT

We do this by:

All these activities take place within a partnership between LCM and the church. These partnerships are intentionally time-bound, with the goal of equipping the church to sustain and grow the ministry independently through a strong missional team supported by the wider church.

MOBILISING THROUGH LCM MINISTRIES

LCM leads some specialised ministries, which it invites churches to get involved with.

For example, every day, Webber Street Day Centre in Waterloo hosts men and women experiencing homelessness, providing breakfast, hot showers and clothing. Trained missionaries spend time with guests, helping them take practical steps out of homelessness, as well as sharing the gospel – through conversations as well as daily Bible talks.

In the evenings, groups from local partner churches, trained by Webber Street missionaries, host meals for homeless guests – seeking to build friendships, to share their faith and, when appropriate, invite them to church.

The longer-term goal is to equip these churches to develop their own ministries – multiplying the gospel impact across the city.

LCM Missionary Faith has been supporting the food bank team to make connections with guests.

REVIVAL HOUSE CHURCH, NEWHAM

In Newham, there is a deep sense of isolation, with many people not only facing practical challenges but also longing for genuine connection and belonging. Creating opportunities for people to use their gifts and build friendships is essential in meeting this need and helping individuals feel part of a community.

“Through LCM’s training, we’ve become more confident in sharing the gospel,” says Pastor Boniface, Pastor of Revival House Church in Newham. “They’ve helped us move from just giving out food to building genuine relationships. We praise God for what he has done through us.” The food bank is just one of the ways LCM have been supporting the church to connect with people from different backgrounds and cultures. This includes some of the area’s most marginalised groups.

READ THE FULL STORY AT LCM.ORG.UK/REVIVALHOUSE

10

11

----- Start of picture text -----
2. STRATEGIC REPORT
----- End of picture text -----

WEBBER STREET DAY CENTRE

Webber Street is LCM’s Day Centre for people who are homeless – based just around the corner from Waterloo Station. Every weekday morning, we welcome guests who have often spent the night sleeping rough, offering not only relief from life on the streets, but also hope for a transformed future.

meaningful conversations about faith.

In 2025, we welcomed 10,873 visits to the centre. Each guest received a warm meal and other practical help, with 6,047 guests hearing a gospel talk while eating breakfast. Our team and church volunteers had gospel conversations with 801 guests, and 212 accepted an invitation to join a Bible study group.

We also referred 100 guests to external organisations for further support, provided 1,192 toiletries , 1,319 items of clothing , and 163 sleeping bags . Healthcare remained a vital part of our ministry, with 307 guests seeing a nurse, 68 visiting a podiatrist, and others receiving doctor’s appointments. In addition, 131 guests

Our deepest hope is to see our guests come to know Jesus and become part of a church family. That’s why, alongside hot breakfasts, showers, clothing and practical support, we share the gospel with every guest and create opportunities for

signed up for Thursday consultation drop in sessions, offering personalised guidance and clear next steps.

This ministry takes place in partnership with local churches, who walk alongside guests both practically and spiritually. At the heart of it all is our conviction that every guest is made in the image of God — seen, known, and loved by their Creator.

In the past year, we have placed renewed focus on the women who come to Webber Street. Women experiencing homelessness often face complex and hidden challenges shaped by trauma, domestic abuse and exploitation. Many avoid sleeping visibly on the streets in order to stay safe, meaning their experiences are often overlooked even as women’s rough sleeping continues to rise. In response, Webber Street runs a weekly women only Safe Space, offering a calm, non intimidating environment where women can rest, receive practical care, and speak openly with female staff and volunteers in safety and dignity.

JUST COMING HERE AND HAVING THE OPPORTUNITY TO TALK MAKES ME FEEL LIKE A HUMAN BEING.”

Within the Women’s Safe Space, guests are welcomed with breakfast, hot drinks, essential toiletries, access to showers and new clothing when needed. Just as important is the opportunity to be heard. “This place is a source of hope at the times when I’ve felt distressed and in need of someone to talk to,” shared one woman. Another said, “Just coming here and having the opportunity to talk makes me feel like a human being.” Creative activities such as knitting, colouring and simple crafts help foster a calm, relational atmosphere where trust can be rebuilt and conversation can unfold naturally.

Alongside practical care, the gospel is shared gently and relationally, and women are supported to connect with local churches. Within this Safe Space, one woman who had long felt unseen chose to pray for the first time — a reminder that safety and belonging often prepare the ground for spiritual transformation. Strengthened by specialist trauma training undertaken by Webber Street staff and volunteers, this growing ministry reflects the heart of Webber Street’s work: meeting urgent needs while creating space for women to be seen, known and encounter the love of Jesus.

12

13

2. STRATEGIC REPORT

TRAINING IN URBAN MISSION

At its heart, the gospel is a simple message.

And evangelism at its heart is relational and Spirit-led. It can be as straightforward as one person telling someone about Jesus on the bus.

But in a diverse and ever-changing city like London, effective mission also requires thoughtfulness, cultural awareness and theological depth. Our Training Department ensures that our missionaries – and by extension the churches they serve – are equipped with the best tools, frameworks, and strategies to share it wisely and well.

Drawing from the field of missiology – the study of how the church carries out its mission – our training team develops resources and delivers teaching that helps Christians think deeply about what faithful, fruitful evangelism looks like in an ever-changing, multicultural city.

The application might look like a church in east London learning how to explain the concept of grace in ways that connect with honour-shame cultures in their neighbourhood. Or training Christians to have meaningful gospel conversations with people who believe science has made faith redundant, or who see truth as entirely personal. We also explore the challenges of urban poverty – like how to walk alongside someone struggling with addiction or homelessness, sharing with them the hope of Christ. Underpinning all of this is a strong emphasis on the Biblical and theological foundations of mission , helping believers see that mission isn’t a side project of the church, but flows from the very heart of God throughout Scripture.

Our staff have delivered training at Oak Hill College, Christ Theological College, and have served as mentors for students at Union School of Theology. In these ways we have been able to cultivate a missional mindset and cross-cultural competence in the next generation of gospel workers.

None of this is simply academic. Our training is forged in real-life ministry. Our trainers are practitioners who share not just knowledge but lived experience. They help others navigate the challenges and opportunities of urban mission because they are doing it themselves.

As the city continues to change, so must our approach to mission. The Training Department ensures that we are always learning, adapting and sharing what we’ve learned with others. By investing in training, we are investing in long-term, sustainable mission – not just for the Mission, but for the whole church across our city.

THOUGHT LEADERSHIP

Our blogs and thought pieces with over 20,000

views last year are written both to equip and to respond. Some address the enduring challenges of sharing faith in a diverse city, among them, a piece exploring how the gospel speaks to shame and honour in London’s multicultural communities, and what it means for a church to offer genuine hospitality across cultural difference. We often collaborate with others involved in mission, like Mark Greenwood, Director of Evangelism at Elim Churches who shared a fresh perspective on evangelism itself — demonstrating that fruitful gospel witness is more about creating genuine invitations than pressing for immediate decisions, and that this shift in understanding can free many Christians from the anxiety they feel about sharing their faith.

Over decades of ministry, God has entrusted us with a growing wealth of insight into how the gospel connects in a complex, urban environment. This wisdom isn’t locked away in a training manual or a lecture hall — it’s being lived out every day by our missionaries on the ground and by our training department who shape and sharpen our approach.

We believe this learning isn’t just for us. We want to make it available to churches everywhere.

That’s why Thought Leadership is a growing and essential part of our work. We’re committed to taking what God is teaching us on the streets, in homes, and in churches across London, and sharing it widely to equip others for mission.

We don’t just train people to do evangelism – we help them understand why and how to do it in a way that reflects Christ and reaches people where they really are.

We also produce the Everyday Evangelism podcast , hosted by our Director of Ministries, Jason Roach. With season three launching in May 2026 and with over 10,000 listens , each episode is a conversation about what it means to share Jesus in today’s London – whether that’s with people from other faith backgrounds or finding natural ways to bring Jesus into everyday chats with colleagues, neighbours, and friends. It’s practical, honest, and deeply rooted in Scripture. In order to expand our reach further, we have partnered with GODTV for season one to be aired via their platform, inspiring more people into sharing Jesus.

Through a range of training events, courses and resources, we help Christians grow in confidence, skill and clarity as they reach out with the love of Christ, especially in areas of significant gospel need.

Our training to Christians ranges from Practical Evangelism Training (PET) days , where participants engage in hands-on workshops – such as launching door-to-door ministries, reaching young people, or sharing the gospel through creative arts —to our in-depth Foundation Course , a two-year programme that combines Biblical study with practical sessions on topics like engaging with Muslims and reaching marginalised communities. In the past year, we have trained over 500 Christians to share their

As we look to the future, we want to grow this area of ministry. The more we share what we’re learning, the more we can help churches and Christians in their own mission fields.

faith more effectively.

14

15

----- Start of picture text -----
2. STRATEGIC REPORT
----- End of picture text -----

----- Start of picture text -----
SHARING JESUS WITH MUSLIMS
----- End of picture text -----

Across the UK, millions of Muslims live and work alongside us, yet many are unlikely ever to have a Christian friend or to hear the good news of Jesus explained with clarity and care. While many Christians long to build bridges, they often feel uncertain, ill equipped or anxious about causing offence.

Sharing Jesus with Muslims (SJM) was developed by London City Mission to meet that need. Drawing on more than a decade of grassroots experience, this new seven part video course equips Christians to understand their Muslim neighbours better and to share Jesus with confidence, compassion and faithfulness. Designed for use by small groups or whole churches, it helps Christians step into conversations that are respectful, Biblical and Spirit led, whether they are based in a multicultural city or a quieter town with a growing Muslim presence.

Each session combines practical teaching, theological clarity and real life testimony from Christians who have devoted years to reaching out to Muslims. Participants explore key topics such as the origins of Christianity and Islam, the Bible and the Qur’an, different views of sin and salvation, and how to share the truth that Jesus is more than a prophet. Space is built-in for discussion, prayer and reflection, supported by a handbook and an expanding online library of additional resources.

Since its launch, response to Sharing Jesus with Muslims has been encouraging. By early May 2026, more than 100 individuals had registered interest on behalf of churches and other Christian groups, suggesting a significant appetite for thoughtful equipping in this area.

The impact of the course is perhaps best seen in the life of local churches. At Cliff Walk Evangelical Church in Newham – a diverse congregation representing more than 25 nationalities – the course helped move the church from uncertainty to confident, prayerful action. For many

members, contact with Muslims was a reality of daily life, but not something they felt equipped to navigate well.

“There was a lot about Muslims we misunderstood,” says Pastor Leandro. “The course helped us learn how to share our lives with them, and how to approach them well with the gospel.”

The course sparked deeper conversations within the leadership about evangelism, hospitality and sustained community engagement. Monthly prayer for the local area followed, and members began putting what they had learned into practice.

One of those was Gill , a retired teacher who began tutoring two young girls from a Muslim family connected through an LCM supported outreach. Attending the course gave her confidence not to force conversations, but to listen, love and speak naturally about her faith.

“It gave me boldness,” she reflects, “but also taught me to step back and let the Lord work.” Through these relationships, the girls – and their mother, Aamina – were welcomed into the life of the church, attending children’s activities, youth events and, at times, Sunday services. While Aamina has not come to faith, her openness has grown. Asked what she now thinks about Jesus, she replied simply: “They make me love Isa (Jesus) more.”

Looking ahead, our vision is to see Sharing Jesus with Muslims used by churches across the UK. In the coming year, we plan to continue sharing the course through church networks, develop further resources, and invite churches– to deepen their engagement with LCM as they seek to reach Muslim neighbours with the hope of Christ. By God’s grace, this ministry is helping churches move from hesitation to confident, compassionate gospel presence

. FIND OUT MORE ABOUT THE SHARING JESUS WITH MUSLIMS COURSE AT LCM.ORG.UK/SJM.

16

17

PEOPLE REACHED

All our interventions are designed to equip Christians to share the gospel amongst specific communities within London.

It remains a tragedy that gospel poverty in London is greatest in the areas where there is also the greatest socio-economic deprivation.

ESTATES

Nearly a quarter of households in London live in social housing – meaning most of the capital’s churches have an estate close by. Especially amongst white workingclass communities, the church is often associated with mistrusted authorities. The result is that many residents go their whole lives without hearing who Jesus really is.

SENIORS

People can be increasingly neglected and lonely as they get older and consequently have fewer opportunities to hear the gospel. We come alongside churches to meet older people in their local area, to build friendships and to start gospel conversations which are so often fruitful.

YOUNG PEOPLE

In London today, we estimate that just one in twenty children go to church, and around half don’t even have a Christian friend to invite them to church activities. And yet our experience shows that children are incredibly open to talking about Jesus Christ and exploring who He is.

PEOPLE FROM OTHER RELIGIOUS BACKGROUNDS

One in four Londoners are followers of other religions; over half are Muslims. We work alongside local churches to build connections with people around them – whether that’s Bengali Muslims in Tower Hamlets or Punjabi Hindus in West London – engaging them with the gospel in an effective and loving way.

HOMELESS AND MARGINALISED

Whether it’s people who are homeless, women exploited by the sex industry or people who have been in prison, each one has their own story to tell – often involving rejection. There are often huge social barriers amongst these men and women, to hearing the gospel in a way they can understand – we help churches to address these and reach out with Christ-like love.

DIASPORA

Almost every church we partner with is home to people from other parts of the world. And our experience is that this diversity can make for more effective outreach. Churches whose members have a shared heritage or origin from elsewhere in the globe are a great blessing to London today and hold much of the potential for seeing London reached for Christ.

We’re increasingly partnering with diaspora congregations. This involves resourcing them to share the gospel with the people yet to hear the gospel in their local area. This could involve connecting them with other local churches from other cultural backgrounds to do mission together, training church members in cross-cultural outreach ministry, or supporting them to start church services in different languages.

18

19

2. STRATEGIC REPORT

Missionary Rob Bridges has been training Eewei and others from the church to share their faith.

THORNTON HEATH EVANGELICAL CHURCH, CROYDON

In Thornton Heath, a highly diverse and high-needs community, there is a strong need for intentional relationships that foster genuine friendship and create natural opportunities for conversations about Jesus.

“The thing that we really value from the LCM team is their approach to building bridges. Rather than doing a one-time visit, they’ve shown us the impact of building trusted friendships where the gospel is shared naturally” says Steve Ridgeway, the pastor of Thornton Heath Evangelical Church.

At Thornton Heath Evangelical Church, London City Mission is helping to spark new confidence in evangelism, with people stepping out who never would have seen themselves in that role before. They are now seeing up to ten people going out doorto-door each time, with real momentum building and growing expectation for what God will do next.

READ THE FULL STORY AT LCM.ORG.UK/THORNTON.

2D. WIDER PARTNERSHIP IN MISSION

Building on previous years, by God’s grace we are privileged to have become trusted partners to many gospel-hearted networks and denominations across London and beyond and have continued to see growth in the partnerships and relationships LCM has with Christian organisations, church denominations and networks.

In all our endeavours we strive to listen to and then serve the gospel-hearted church of London as we seek to ignite a movement of mission to people on the margins through the local church. Working in collaboration with networks such as Evangelical Alliance and Affinity Gospel Churches, and through our own Ministry Reference Panel, it is a joy to work in partnership for the gospel.

In terms of highlights, again this year we were pleased to be invited to the annual London Baptist Ministers’ conference where we were able to share about our work, noting that we already work in partnership (individually) with multiple Baptist churches across London. Similarly attending regional London gatherings of the Fellowship of Independent Churches (FIEC) has been encouraging as we continue to grow in relationship and partnership with FIEC churches too. For the second year running, we were honoured to be invited to feature and speak at the New Testament Church of God’s Annual National Leadership Summit, where we also shared our work and impact. This is a growing relationship which is exciting as it provides an opportunity to reach and serve areas of the gospel hearted church of London which hitherto we have not engaged with.

Our partnership with the annual Ministers’ Appreciation Ball once again provided a strategic opportunity to engage with hundreds of church leaders and share what LCM is doing and this event saw Carl Knightly, LCM Director of Church Engagement, deliver the keynote after-dinner Bible talk.

In terms of broader partnership, we were once again partners in the annual City Prayer Breakfast (CPB) where we play a key role convening strategic Christian leaders from across London to come together and pray, and we were also pleased to share about the work of LCM as part of the

programme. We have signed a new two-year partnership with the CPB so we can continue to support this important event as well as promote the mission of LCM in this sphere.

We were also delighted to partner with Grace Publications in a project (‘Good News for London’) to disseminate gospels of Mark across London, in an ezine format. This initiative saw over 40,000 gospels of Mark shared with non-believers across London, and an accompanying website hosted a church finder which provided a map of evangelical churches for seekers to visit. This initiative was hugely encouraging, and LCM was able to be a key driver in seeing this initiative launched successfully.

We thank God for His sustaining grace as we continue to press on working alongside gospelhearted churches to share the good news of the Lord Jesus.

20

21

2. STRATEGIC REPORT

MINISTRY REFERENCE PANEL (MRP) MEMBERS

Trevor Archer (MRP FIEC, former London Director Chair)

Rev Dr Girma Bishaw Director, Gratitude Initiative

Bishop Delroy Powell New Testament Assembly, former Presiding Bishop

Pastor Mary Pastor, True Vine Centre RCCG; McCauley national teenage ministry lead RCCG

Pastor Osh Ong

Former Senior Pastor, Chinese Church in London

Archbishop Moses Archbishop, Apostolic Pastoral Owusu-Sekyere Congress; Director, Christ Theological Centre (CTC)

Senior Pastor, Hope Church, West End

Pastor Alex Brito

Pastor Dr Cornelius RCCG Regional pastor; Alalade Redeemed Christian School of Mission

Rev Lis Goddard Vicar of St James the less, Pimlico

Johnny Prime FIEC London Director

Pastor Tony Uddin Senior Pastor Tower Hamlets Community Church; AOG

2E. THE CONTEXT OF MINISTRY

people mean the areas where our missionaries work increasingly reflect the nations of the world alongside seeing growth among Pentecostal, Charismatic and diaspora congregations.

Releasing the gospel-sharing potential of the Church

in a city marked by profound inequality remains a vital priority in London. Research shows that in 2025, poverty in the capital is rising once again, with more than one in four Londoners now living below the poverty line. Housing costs remain the dominant driver, particularly for private renters, nearly one million of whom are living in poverty. For many households, hardship is no longer short-term but entrenched, with limited resilience left to absorb further shocks. Child poverty remains especially acute, and people with insecure immigration status continue to face destitution beyond the reach of public support. These realities underline the scale and complexity of need across our city in 2025. London’s communities are also changing. Continued immigration and the arrival of displaced

Amid these challenges, we are seeing fresh signs of spiritual hunger. Recent research points to a growing interest in Christianity across the UK, particularly among young people. We have witnessed this firsthand, as churches we work alongside report more people asking questions about faith and seeking hope in the gospel.

The Holy Spirit is at work, drawing people to Jesus in the midst of uncertainty. The London City Mission continues to partner with churches to share the good news with those most in need – bringing practical help alongside the message of Christ. In a city where so many still lack a Christian friend to tell them the gospel, this openness is a timely and precious opportunity.

22

23

2. STRATEGIC REPORT

LONDON IS A CITY WHERE SOCIAL AND MATERIAL NEEDS SIT SIDE BY SIDE WITH GREAT WEALTH.

----- Start of picture text -----
6
----- End of picture text -----

----- Start of picture text -----
1
----- End of picture text -----

----- Start of picture text -----
4
2
3
5
----- End of picture text -----

KEY LCM PARTNER CHURCH SEE P26 MOST DEPRIVED LEAST DEPRIVED

24

25

2. STRATEGIC REPORT

5

SIX LCM TEAM MEMBERS SHARE WHAT MARGINALISATION LOOKS LIKE ON THE MISSION FIELD.

1 ENFIELD, MURAT

One group of people I regularly come across in Edmonton, and Ponders End (two areas of Enfield where I work) are non-English speakers. We meet people from Turkish and Bulgarian communities, and even some Polish people, where communication can be really difficult.

Another group is Brazilians. Many of them work as motorcycle pizza delivery drivers and can often be seen standing around Enfield Town waiting for orders to come in.

We’ve tried engaging with them, but none of our team speak Portuguese, which is incredibly frustrating. We try to keep a supply of evangelistic materials in Portuguese when we run book tables, however. Still, because of the language gap, many of these people remain marginalised, at least until they learn English.

I am grateful our Lord Jesus has no language barriers. Praise God, people don’t need to learn English, Arabic, or any other language to speak with God.

2 HACKNEY, REBECCA TORTELLI

3

NEWHAM, ILYAS AYOUB

Hackney is one of the most diverse places I’ve ever known. When it comes to marginalisation, I see it every day. I work with refugees, homeless people, vulnerable women, and young people battling with serious violence, including knife crime and gang tensions. Recently, a TikTok post encouraged Year 6, 7, and 9 students to attack students from other schools. Schools had to close early, hospitals brought in more surgeons, and two kids were stabbed. Things like that can feel so disheartening, like everything we’re doing isn’t enough. But then you see moments when young people themselves begin to share the gospel or show kindness to each other, and it reminds me that God is still at work, even in the darkest situations.

Newham is one of the most deprived boroughs in London, with high unemployment rates and significant hidden poverty. At the New Asian Friendship Centre, alongside members of the local church, we support people from the South Asian community

who are experiencing the daily realities of this. Many are not fluent in English, can’t easily access services, and are often isolated in their communities.

People come to us worried about benefits, rent, GP appointments, and daily survival. One man came in with an eviction notice, and I was able to help with much of the paperwork, but also share the comfort we can find in Jesus.

As a church, we can do much to help with forms, job applications, bills and food support, especially for Muslim families, as we share the hope of Jesus with them.

----- Start of picture text -----
4
----- End of picture text -----

REDBRIDGE, SCOTT GENTRY

VAUXHALL, SHANE GOODYEAR

In Vauxhall, many of the deepest struggles are not immediately visible. Many people I meet are working hard in essential jobs – as nurses, cleaners, postal workers, administrators, and in many other roles. On the surface, life can appear relatively settled. Yet beneath that, there is often profound loneliness, fragile relationships, and significant mental and emotional strain.

Marginalisation in Redbridge isn’t always obvious. Areas of wealth and comfort sit alongside pockets of real need here. Like much of London, the borough is richly multicultural, with people of many

Housing pressures only intensify this sense of being hemmed in, including for those living on council estates. Alongside this, there is a deep mistrust of institutions, authority, and the state. Many feel overlooked, unheard, or treated unfairly. More recently, I have also seen growing social and cultural fragmentation, with different communities often carrying their own grievances or feelings of exclusion. All of this makes gospel witness difficult. Yet when people feel genuinely listened to and treated with dignity, there is often a remarkable openness and a deep longing for truth, belonging, and lasting hope.

faiths and backgrounds living close together, yet it’s taken my wife and I years to build relationships with our neighbours. Communities can be cautious of outsiders, and many individuals experience isolation despite being surrounded by people.

Spiritually, this shows up in a search for meaning and belonging. City life often creates guardedness and a reluctance to trust. This presents both a challenge and an opportunity for the church: to persist patiently, to show consistent love, and to break down barriers through everyday kindness, demonstrating that no one is unseen or forgotten by God. At one church I work with, we’ve started an evangelistic litter pick to share the gospel while we clean up the streets, loving our community practically and spiritually as we go.

6

HOUNSLOW, KASHANE GAYLE

I regularly meet young people growing up in poverty, international students struggling to adapt, and older residents experiencing deep loneliness. On the high street, tensions between youth can quickly escalate, with frequent instances of knife crime and heavy policing.

With very limited youth programmes, many young people are left bored, unsupported, and vulnerable. In this context, the need for the gospel is urgent. Many young people carry negative assumptions about the church or have faith backgrounds disconnected from their everyday interactions. Yet when they hear the gospel explained clearly and personally, there is often genuine openness. I was able to pray for 16 young people who came up to our book table on the High Street. The message of Jesus can speak directly into their experience, offering dignity, identity, and an invitation into a life grounded in true hope and belonging.

26

27

2. STRATEGIC REPORT

2F. OUR IMPACT

RELEASING THE GOSPEL SHARING POTENTIAL OF THE CHURCH

All Christians have remarkable potential to share the lifesaving good news of Jesus Christ. At The London City Mission, our calling is to see that potential released – not in isolation, but through confident, prayerful and outward-facing local churches.

Our approach is therefore intentionally churchcentred. We do not simply run activities; we come alongside churches, serving their vision and helping them to form sustainable missional teams that can engage their communities with the hope of Christ for the long term.

In the past year, we supported 73 churches through our church partnership approach. By God’s

grace, these partnerships are helping churches become more confident, more prayerful and more effective in reaching their neighbours.

OUR IMPACT JOURNEY

Our work is shaped by an intentional journey that reflects how lasting gospel fruit grows:

HEAD - HEART - HANDS - FEET - FEET

This journey reflects our conviction that lasting gospel impact flows from spiritual formation, practical equipping and church embedded mission.

By God’s grace, through these partnerships we continue to see men, women and children coming to faith in Jesus Christ, often for the first time, as churches confidently and prayerfully engage their communities.

PIONEER SCHEME

The Pioneer Scheme has played a crucial role in releasing the untapped potential of men and women who may not fit the traditional mould for ministry. These are individuals who, due to their backgrounds, lack of formal education, financial resources or social standing, would typically be overlooked by conventional ministry training pathways. The Pioneer Scheme gives them the tools and opportunities to serve effectively in their communities and beyond.

Over the past 11 years, the programme has trained 60 evangelists – 39 men and 21 women –empowering them to mobilise their communities for mission. Almost all students and churches report significant improvements in confidence, with graduates becoming “very competent” in ministry practices and sharing the gospel. This newfound confidence and competence are having a direct and positive impact on their churches’ outreach initiatives.

The scheme combines classroom instruction with hands-on ministry experience, offering a well-rounded approach that includes Biblical studies, discipleship and community-based outreach. Graduates are equipped to not only preach the gospel but also to lead and disciple others, with many establishing new outreach ministries within their churches.

One such Pioneer is Phil Barker, training through the Pioneer Scheme and serving in outreach with St Mary’s Summerstown.

“This course has been life-changing. It has given me the boldness and confidence I’d long been praying for. Preaching and leading services have been two significant areas of development – something I never would have imagined doing just a year ago.”

Phil’s pastor, James Fletcher, has seen the programme strengthen both Phil and the church’s evangelism.

“The Pioneer Programme has been outstanding both for Phil and St Mary’s… Phil has taken the lead on developing a door-knocking team, showing initiative and consistency in reaching out to the local community.”

28

29

----- Start of picture text -----
2. STRATEGIC REPORT
----- End of picture text -----

HEART Understanding leads to conviction. Christians become excited about their role in God’s mission and begin to pray for opportunities to share their faith.

FEET Faith becomes action. Christians begin to share the gospel in everyday life, forming meaningful relationships with people unlikely to otherwise encounter Christian faith.

HEAD Christians grow in their understanding of gospel need, particularly among marginalised communities, and of the church’s calling to respond.

HANDS Confidence and capability grow. Christians are equipped to share Jesus in relevant and sensitive ways, including with people from very different backgrounds.

FEET Mission is sustained. Churches form enduring missional teams that welcome people from their communities, invite them to follow Jesus, and disciple those who respond.

FEET – TRANSFORMED BEHAVIOURS

MEASURING WHAT MATTERS

This year, we introduced a new monitoring framework across our partner churches, aligned directly to our head to heart to hands to feet model. This allows us to track not only activity but transformation – in understanding, prayer, confidence and behaviour.

On average, a church partnering with LCM now engages in missional outreach in its local community around 20 times a year, embedding gospel engagement into the rhythm of church life.

These figures reflect churches moving through the full journey from understanding and prayer to confident, consistent gospel engagement.

As this is the first year of implementation, these results form a baseline against which future progress can be measured, both within individual churches and across LCM as a whole.

CHURCH MOBILISATION IN PRACTICE

For the average church supported by LCM last year:

HEAD – TRANSFORMED FAITH AND THEOLOGY

More than 200 LASTING CONNECTIONS were formed between Christians and people in the local community.

Through partnership with LCM, 62% of church leaders and 82% of missional team members reported “more” or “substantially more” understanding of the importance of sharing their faith.

More than 100 GOSPEL CONVERSATIONS took place, many with people hearing the good news of Jesus Christ for the first time.

HEART – TRANSFORMED PRAYER AND CONVICTION

71% of church leaders and 83% of missional team members said they felt “more” or “substantially more” inspired to pray for opportunities to share their faith.

An average of 14 CHURCH MEMBERS were actively engaged in gospel outreach, doing so regularly and sustainably as part of church life.

HANDS – TRANSFORMED CONFIDENCE AND ABILITY

Additionally, we visited 262 supporter churches across the UK, encouraging congregations in local mission and partnering with them through prayer and giving, supported by a network of 561 Mission Champions.

74% of church leaders and 77% of missional team members reported being “more” or “substantially more” confident in sharing their faith.

30

31

2. STRATEGIC REPORT

2G. STRATEGIC FOCUS ~~AND FUTURE DIRECTION~~

DEEPENING REACH WITH CHURCHES, NOT ONLY INDIVIDUALS

When Jesus sent out his disciples, he sent them in pairs (Luke 10:1). The call to mission has always been a communal one, and the fruit of it grows most naturally from a community that prays, goes and welcomes together.

As we forge ahead in our five-year strategy (20252029) two areas are shaping how we pursue our vision in the next year.

Much of our centrally organised training and thought leadership work to date has focused on equipping individual Christians. We remain committed to that. But the experience from missionaries coming alongside churches shows that lasting missional change happens at the level of the church community, shaping its culture, its leadership, its shared life, rather than through individual Christians alone.

PREPARING CHURCHES FOR A CHANGE

London is one of the most diverse cities on earth, and that diversity is deepening and being felt across the country. The communities surrounding our partner churches increasingly reflect the nations of the world bringing both genuine remarkable opportunities to reach the world on our doorsteps and some complexity for local mission.

National research indicates that almost half of church leaders across the UK feel they need greater support to engage meaningfully with their local culture and to lead church revitalisation effectively.

In the years ahead, we intend to be more deliberate about reaching churches as a whole. This means developing resources and relationships that help leadership teams and congregations grow together in their confidence and commitment to mission. We believe that when a church is genuinely ignited for mission by praying together, going out together, welcoming people together, the impact reaches far beyond what any individual could achieve. That is the kind of movement we are praying and working, by God’s grace, to see flourish across London and beyond.

We have also observed our church partners carry a sincere desire to reach their neighbours across cultural differences and find themselves uncertain about how to do so well.

Responding to that need feels important. We are developing several resources and training aimed at churches that highlights the commitment that intercultural ministry requires. Central to this is cultivating a culture of hospitality that shapes how a church welcomes, receives, and includes people from diverse backgrounds.

3. OPERATIONAL REPORT

as it diversifies our income and gives us a greater opportunity to grow year-on-year.

3A. ENABLING MISSION

FUNDRAISING AND SUPPORTER PARTNERSHIPS

Gifts in Wills (legacies) continues to be our largest income stream. We give thanks for the individuals who choose to include LCM in their will and for the £1.9m we received in 2025 (£2.6m in 2024). A key part of the fundraising strategy is to grow the number of gospel partners and in 2025 1,245 new supporters started to give to LCM. Relationships with churches in London and across the country are vital to what we can achieve, and we connected with 339 churches online and in person, holding speaking engagements, prayer meetings, conferences and other interactions. We remain eternally grateful for the continued generosity of our supporters and in 2026 we have ambitious plans.

We are humbled and encouraged by the many people and organisations who partner with us through their generosity to reach people on the margins with the gospel. They are vital to The London City Mission (LCM) as they pray for our work, give and volunteer. We value each and every partnership.

In 2025, £3.5m was raised against a target of £3.7m. This is a decrease of £0.4m compared to 2024. 2024’s income was boosted by the Webber Street Capital Appeal. We thank God for everyone who responded so generously to transform the Webber Street Day Centre making it more welcoming for guests. We acknowledge and give thanks for the generosity of our gospel partners who have made this possible.

COMMUNICATIONS

In 2025 we began our efforts to double our audience across various communication platforms to support our strategic aims. At every step we seek to connect, inspire and encourage people, believers or not, with the life-changing truth about Jesus Christ.

In 2025 we saw a 25% increase in support to our missionaries, a 57% increase from our key supporters and a doubling of income from Trusts and Foundations. We are so grateful for this growth

32

33

3. OPERATIONAL REPORT

We did this by:

3B. PROPERTY MANAGEMENT

Over many decades, through the generosity of gospel partners, the Lord has provided The London City Mission (LCM) with properties for use in serving the gospel. Some of these are used to house current and retired missionaries, others are used as bases for missional activity, some are venues for churches, and some provide a rental or investment income which is invested in ministry across London.

STAFF HOUSING

Three properties were purchased to house staff in 2025 (eight in 2024) whilst five residential properties (eight in 2024) no longer required for LCM ministry were sold. We continue to realign our portfolio of properties to best meet the needs of LCM’s ministry. By the end of 2025, four (eight at end 2024) properties were rented to house missionaries where we did not have a suitable property available and were unable to acquire a suitable property for financial or operational reasons. An ongoing focus for the Estates team is to reduce our use of rented properties by acquiring

properties to house our missionaries to reduce our operating costs and improve the security of tenure for our staff.

RETIREMENT HOUSING

LCM provides retirement housing for those missionaries who, by 2012, had achieved 20 years’ service with the Mission. At the end of 2025, 36 properties (37 at end 2024) were provided for the use of retired missionaries or their spouses, with one having been sold in 2025 (two sold, one vacant and for sale, one purchased in 2024). While we no longer offer this to more recently employed missionaries, the support of current retirees remains an important function of our property team.

CHRISTIAN CENTRE DISPOSALS AND DEVELOPMENT

The Property Disposal Programme continues to progress the sale of properties no longer needed for ministry. Working with our professional advisors, London City Mission Property Holdings (LCMPH) is pursuing an appropriate approach to disposal of each property identified as no longer needed by LCM. In some cases, this is a straight disposal, often to a church or other existing user. In other cases, we are forming partnerships with developers to seek planning consent for development of the site, thereby enhancing the disposal proceeds for LCM.

During 2025, four properties were sold (three held in LCMPH), one of which was sold to a church and three to investors. All sales were on an unconditional basis.

As at the end of 2025, there are two sales (both to churches) under Option Agreement, with one targeted to complete in 2027 at the earliest. Additionally, at the end of 2025, Heads of Terms were signed for one site, sale targeted for completion in 2026.

The Hoxton House development in Hoxton is being rented by a church tenant, with the second unit being occupied by them under a Tenancy at Will, the lease is due to complete this year, thereafter our intention is to proceed with the sale of the freehold.

The total amount received from the four buildings disposed of in 2025 was £7.6m. These property sales provide the necessary cash to fund our cash deficit until we can grow our income and reduce our costs to extinguish the cash deficit.

34

35

3. OPERATIONAL REPORT

3C. FINANCIAL REVIEW

result, total funds fell from £58.6m to £54.2m.

LCM has been igniting a movement of mission in the church in London for over 190 years; much work remains to be done to ensure that LCM is able to continue this going forward. Unrestricted funds remained in line with 2024 at £6.2m, supported by funds set aside for an expected deficit. Designated funds decreased to £45.1m (2024: £49.5m). These designated funds are held for several purposes, with the graph below showing that the two main reasons are for housing our missionaries and their families, and for our Ministry Sustainability Fund. Our Board-approved recovery plan (increasing income and reducing costs) shows that we will utilise the Ministry Sustainability Fund by the mid2030s. This plan reflects a careful stewardship of resources, but also a reality: the Mission is drawing heavily on past provisions to meet present needs; we are relying on the sales of properties in the Ministry Sustainability Fund to fund our deficits.

This year’s financial story represents a year of progress toward our goal of reducing our deficit to £1.5m by 2029 – but highlights the financial pressures of gospel outreach in London and the urgent need for ongoing and increasing support.

In 2025, The London City Mission (LCM) received total income of £8.4m, made possible by the sacrificial giving of donors and the generosity of those who left legacies in their wills. This reflects a decrease from £8.9m received in 2024. Donations decreased to £3.5m (2024: £3.9m). It should be noted that 2024’s figure included an exceptional £0.7m raised for the one-off Webber Street Capital Appeal, so the underlying £3.5m without a capital appeal represents encouraging growth. Legacies contributed £1.9m (2024: £2.6m). Investment income remained steady at around £1.0m. There was additional income from leases, book sales and property sales but these are not guaranteed sources of future funding.

The cost of ministry in London remains high, but LCM is working hard to make its cost base more sustainable. In 2025, LCM invested £12.4m in its work (2024: £14.3m) – this reduction reflects a planned and concerted effort to meet LCM’s financial sustainability objective to be in surplus by the mid-2030s. While £2.1m (2024: £2.5m) was spent on fundraising and investment management, the vast majority - £10.3m - was directed to frontline mission activities (2024: £11.8m). This includes vital ministries to children, youth, diaspora communities and those experiencing homelessness.

MISSIONARY HOUSING 46% 2025 DESIGNATED PENSION PROVISION 1.1% FUND CHRISTIAN CENTRES 1.2% BALANCES CENTRAL OFFICE ETC 10.7% MINISTRY SUSTAINABILITY 41%

The balance sheet shows fixed assets of £46.0m (2024: £52.9m), and a cash balance of £6.2m (2024: £4m), arising primarily from the sale of properties. However, there was a net cash outflow on operational activities of £5.9m (2024: £6.0m) – highlighting the ongoing challenge of sustaining ministry through current levels of regular income alone.

As a result of this decrease in expenditure, despite a small decrease in income, LCM reduced its net deficit to £4.4m (2024: £4.7m), funded largely from designated reserves. As a

----- Start of picture text -----
£2.5M
FUNDRAISING AND
£2.1M
INVESTMENTS
£3.9M
DONATIONS £3.5M
£11.7M
MINISTRY £10.3M
LEGACIES £1.9M 2.6M
INVESTMENTS £1M
£1M
ADDITIONAL INCOME £2M
£1.4M
2025 2024 2025 2024
INCOME EXPENDITURE
----- End of picture text -----

Looking ahead, LCM’s vision remains unchanged: to bring the hope of Christ to those least likely to hear it. But to do so, we urgently need the continued and increased support of those who share this calling. Every gift, prayer, and partnership is vital in helping us meet the growing spiritual and practical needs of London’s communities.

wind-up process, which we aim to complete in 2026. Once the liabilities are fully insured then the pension scheme trustees will be expected to wind-up the scheme. The completion of the buyout is expected to save LCM expenditure, internal administration time and risk in the medium-long term, and provide a better service and greater security to scheme members.

PENSION PROVISION

The defined benefit pension scheme closed to all new and existing employees in 2006. In 2025, as was the case in 2024, LCM did not make any contributions to the scheme as there was no actuarial deficit. In June 2022, the charity and pension scheme trustees jointly appointed Lane Clark & Peacock (LCP) to advise on a bulk annuity purchase to cover the defined benefit pension scheme’s liabilities, known as a scheme buy-out. This would eliminate the ongoing costs of operating the scheme, which are borne by LCM, and any risk of a deficit arising in future, while maintaining security for members of the scheme. Following a formal quotation process, a bulk annuity contract was signed with Aviva in May 2024. To fund the purchase of this contract the scheme assets have been liquidated, and LCM made a contribution of £0.5m during 2024 to fund the initial premium. It is anticipated that a further contribution of approximately £0.1m will be needed to cover the final premium once the data verification process has been completed. It is estimated that, including the above, LCM will need to pay a further £0.5m to complete the buyout. £0.5m has therefore been retained in the Pension Deficit Fund to cover the

RESERVES POLICY

Under the risk adjusted general reserves policy, the Directors reviewed the target in 2025 and, due to the operational deficit, decided to maintain reserves at between £6m and £7m, which represents seven to eight months of operating costs. LCM held unrestricted general reserve funds of £6.2m at the end of 2025 (2024: £6.2m). Included within these unrestricted funds are fixed tangible and intangible assets totalling £4.5m. Free unrestricted reserves at 31 December 2025 were £1.7m.

While LCM continues to operate at a deficit and until it achieves financial sustainability, it is selling non-ministry assets, including properties and liquid investments. These proceeds are held in the Ministry Sustainability Fund, which stood at £18.5 million at the end of 2025, down from £23.5 million at the end of 2024. This is a finite resource that can assist in meeting LCM’s deficits in the short term, but after it is exhausted, LCM will need to be fully reliant on operating income covering its expenditure. The table below shows the profile of the Ministry Sustainability Fund over the last four years, as we continue to sell assets whilst in operational deficit.

MINISTRY SUSTAINABILITY FUND (£000s)

----- Start of picture text -----
35,000
30,000
25,000
OTHER CURRENT
20,000 ASSETS (EG AMOUNTS
OWED FROM LEGACIES)
15,000 CASH ON DEPOSIT
LISTED INVESTMENTS
10,000
INVESTMENT
5,000 PROPERTY
0
2022 2023 2024 2025
----- End of picture text -----

36

37

3. OPERATIONAL REPORT

The Directors expect to draw on this fund to cover operating deficits into the mid-2030s as LCM reduces the operating deficit from the current underlying level of around £4m per annum to breakeven. Included within the Ministry Sustainability Fund at 31 December 2025 was £5.2m of cash and funds on deposit. The Directors consider the reserves held of £1.7m of free unrestricted funds, and the £5.2m in the Ministry Sustainability Fund as appropriate.

CASH AND GOING CONCERN

The Directors of LCM confirm that in their view LCM has access to sufficient cash resources to cover its expenditure for the foreseeable future. The Directors acknowledge that there are financial risks to the organisation including inflationary pressures, a possible slowdown in the UK and global economy and changes in property prices. These could increase LCM’s costs, reduce donation income and reduce proceeds from sale of property.

At the end of 2025, LCM held £8.6m of liquid assets (2024: £6.8m), comprising cash of £6.2m and the proportion of marketable securities that are not held in LCM’s endowment (£2.4m), which amounts to around seven to eight months of operating expenses. The Property Development Programme is forecast to provide more than £2.8m of cash receipts in 2026. If necessary, further cash can be obtained by either accelerating the disposal of properties currently let out commercially or borrowing against the value of these properties.

Having reviewed these factors, the Directors believe that LCM has access to the resources needed to ensure that LCM continues as a going concern.

3D. COMPLIANCE

STATEMENT ON FUNDRAISING COMPLIANCE

The London City Mission (LCM) greatly values the support it receives from many people and organisations. We could not fulfil our objectives without the financial and prayer support that we receive from them. Supporters are vital partners in this ministry, and we seek to be grateful, respectful, and relational in all our interactions with them.

LCM is registered with the Fundraising Regulator, and we are committed to its Fundraising Promise and to the Code of Fundraising Practice.

In 2025, we paid the Fundraising Regulator’s fundraising levy, and we display the Fundraising Regulator badge on all our fundraising materials to give individuals the confidence that we are committed to good practice. In addition, we comply with the relevant fundraising laws and regulations and in addition to executive oversight, Trustees monitor our fundraising activity closely.

We apply the LCM values to our fundraising communications and campaigns and endeavour to communicate the impact of donations through our letters, magazines, e-newsletters and bespoke publications. We build trust with supporters by being honest and transparent in our communications and we aim to thank donations as soon as possible. We want everyone we interact with to feel free from undue influence when they consider donating to The London City Mission. This includes anyone who may be in a vulnerable state and unable to make an informed decision about giving.

LCM values our supporters and takes complaints about our fundraising activities seriously and seek to make it clear and easy for individuals to raise their concerns. Our records show that we received 0 complaints about our fundraising from supporters or members of the public in 2025 (2024: nine). Where we do have cases we seek to learn from their feedback and apologise where we have fallen short of our standards. The time taken to acknowledge gifts was an issue last year and we are working to resolve this through the implementation of a new CRM system.

We use the services of trusted external consultants who either have skills that we do not have in our staff team or to boost the capacity of the fundraising team. They are carefully selected and monitored, and we ensure that they align with our charitable purposes and values as well as the Fundraising Code of Practice.

STATEMENT ON DATA PROTECTION

LCM is committed to ensuring that all personal data is kept safe and used in a way that individuals are aware of and would reasonably expect. We aim to be clear about how we use all personal data and to give individuals a choice of what they would like to receive from us, which channels they receive this through and how often. We always seek to provide clear and easy ways for people to stop

receiving communications from us. We have a Data Protection Officer who reports directly to the CEO. Staff training in both data protection and cyber awareness is in place across the Mission.

We have a Privacy and Fair Use Policy (www.lcm.org.uk/privacy) and continue to upgrade our IT network and practices, to ensure all personal data is secure in line with industry standards and regulations.

PUBLIC BENEFIT

The Directors of LCM confirm that they have had regard to the guidance contained in the Charity Commission’s General Guidance on Public Benefit when reviewing LCM’s aims and objectives and in planning future activities.

3E. PRINCIPAL RISKS AND UNCERTAINTIES

The Board and Leadership Team review the organisation’s risk register in detail annually. This year following discussion by the Leadership Team there are changes being made to further develop internal processes to increase the frequency of reviews of identified risks. Furthermore, monitoring the effectiveness of mitigations will also be scrutinised more often to ensure risk management is having an impact on decisionmaking and operations.

The following risks were highlighted as particular priorities for the Mission.

CYBER SECURITY

The risk of cyber-attacks for UK charities remains high, with significant impact depending on the severity of the breach. The London City Mission continues to maintain robust IT security protocols, including multi-factor authentication, up-to-date antivirus software, and strong password practices. Annual cyber security awareness staff training was initiated in 2025, with a focus on phishing attacks and social engineering. Training has led to an increased awareness of potential threats and a growing confidence in how to respond to them effectively.

Regular annual penetration testing and bimonthly vulnerability scans are conducted to proactively identify and address potential threats. A geo-fencing system is in place to block Microsoft

365 login attempts from outside the UK. Wi-Fi networks at key sites including 175 Tower Bridge Road continue to support modern encryption standards. LCM is Cyber Essentials accredited, which includes an external audit to independently verify the strength and effectiveness of its cybersecurity measures.

DATA PROTECTION

Good stewardship of all data at the Mission is essential. A dedicated Data Protection Officr based in the Governance, Risk and Compliance (GRC) team works at all levels of the organisation to inform staff of GDPR and other legislation that must be complied with. LCM recognises that data is a vital asset to reach its strategic objective of sharing the gospel with people on the margins, and that it must not only protect but also utilise data as a tool. To this end, a Data Governance Forum has been set up to share best practise and increase awareness of implementation of policies across the different departments. The forum will be reviewing and overseeing the roadmap for improving data protection in the coming year.

SAFEGUARDING

LCM maintains a high priority for safeguarding both beneficiaries and staff. There has been a dedicated safeguarding team in place for a number of years and the safeguarding policy and procedures are reviewed annually. As part of the mitigations for safeguarding, there are mandatory DBS checks required for all relevant staff roles. In addition, all Board and Leadership Team members complete DBS checks.

To avoid any complacency, annual reviews of policy and procedures are completed at both HR Committee and Board level, and safeguarding reports are regularly made to trustees for transparency. Training has also been completed by all members of the Board and the HR Committee, who have a particular need to be informed and up-to-date on the charity’s legal duties. Specialist software, MyConcern, continues to be an excellent tool to confidentially receive, track and resolve all issues raised.

LCM has had a trained DSL (Designated Safeguarding Lead) for a number of years, and the Mission continues to look for ways to improve safeguarding so that cases raised are handled with excellence.

38

39

4. GOVERNANCE

ADVISORS AND OTHERS ACTING FOR THE LONDON CITY MISSION DURING THE YEAR:

Solicitors:

Wedlake Bell LLP 71 Queen Victoria Street London EC4V 4AY

Anthony Collins Solicitors LLP 134 Edmund Street Birmingham B3 2ES

Investment Managers:

4. GOVERNANCE

REGISTERED OFFICE:

The London City Mission 175 Tower Bridge Road London SE1 2AH

advance and extend the knowledge of the gospel among the inhabitants of London and its vicinity (especially amongst those living in poverty), without any reference to denominational distinctions or the peculiarities of Church Government.

Investec Wealth and Investment Limited 30 Gresham Street London EC2V 7QN

Bankers: Barclays Bank plc 100 Fenchurch Street London EC3M 5JD

Insurance advisors:

REGISTERED CHARITY NUMBER:

247186

REGISTERED COMPANY NUMBER:

4284615

DIRECTORS AND PROFESSIONAL ADVISORS:

All Trustees acted as Directors of The London City Mission and were also the members of The London City Mission. The Directors who served during the year and up to the date of this report were as follows:

Arthur J Gallagher Insurance Brokers Limited Spectrum Building 7th Floor, 55 Blythswood Street Glasgow G2 7AT

Pension advisors:

STATUS:

The London City Mission is a charity registered in England and Wales and a company limited by guarantee registered in England and Wales. The London City Mission is governed by its Memorandum and Articles of Association. Incorporated on 10 September 2001, the company took on the charitable activities, assets and liabilities of The London City Mission, an unincorporated association and registered charity (Charity Number 247186), on 1 January 2003. The Company operates under the working name ‘London City Mission’.

OBJECTS:

The objects of the Charity are for the public benefit, to further such exclusively charitable purposes according to the law of England and Wales, as the Trustees in their absolute discretion from time to time determine, and in particular (but without prejudice to the generality of the foregoing), to

DIRECTORS AND DATES OF CHANGES:

Mercer Limited 1 Tower Place West Tower Place London EC3R 5BU

Punter Southall Defined Contributions Consulting Limited 11 Strand London WC2N 5HR

Registered auditors:

Moore Kingston Smith LLP 9 Appold Street, London EC2A 2AP

Surveyors: Rapleys 66 St James’s St St. James’s London SW1A 1NE

40

41

4. GOVERNANCE

4A. GOVERNANCE OF THE LONDON ~~CITY MISSION~~

The Board of The London City Mission (LCM) met on seven occasions including an away-day during 2025, among other things to agree overall strategy and policy; to determine matters of principle; deal with strategic financial and property planning; and review progress towards achieving the annual objectives it has set.

As permitted by the Articles of Association, the Chief Executive Officer, who is also a member of the Board of Directors, is the only paid member of the Board. The Chief Executive Officer is appointed by the Board and, together with his senior management team, manages the day-today operations of LCM. Communications with all employees are maintained through regular team meetings, monthly Team Days, staff newsletters, annual appraisals, email and written documentation.

London City Mission continues to value the best practise set out in the recently updated (November 2025) Charity Governance Code. For example, recent improvements in Board effectiveness have been informed by two principles in particular (3. Leadership and 8. Board Effectiveness) in the code.

RECRUITMENT AND INDUCTION OF TRUSTEES

A Nominations Committee has been established on the LCM Board with a view to increased planning and proactivity in recruiting and onboarding trustees. Drawing on Sections 3 and 8 of the Charity Governance Code (2025), recruitment will seek to reflect the diversity of the churches in London. The new committee will have oversight of the composition of the Board, including the skills, expertise and experience required, including for Board committees.

In the latest round of trustee recruitment an executive search company was engaged and facilitated recruitment, under the authority of the Chair. In addition, trustee terms of service have now been agreed by the Board going forward. Trustees agree to potentially serve for two four-year periods, with the option of an additional two years.

Onboarding of new Board members is being improved with each intake. Provision of dedicated LCM Office 365 accounts is given during induction allowing access to a range of core documents.

New trustees must also complete references and DBS checks and are assigned more experienced Board members as ‘buddies’ to support them in onboarding. A series of in-person meetings are organised to get to know other Board members and senior staff as well as supporters at the annual Thanksgiving Service. In addition, more formal trustee training is offered, as is ongoing training where appropriate.

4B. SUBSIDIARY COMPANIES

The London City Mission (LCM) group is made up of The London City Mission and London City Mission Property Holding Ltd (LCMPH) a wholly owned subsidiary of LCM.

London City Mission Property Holdings Ltd (LCMPH), a company limited by shares, was established in November 2019 as a subsidiary of The London City Mission. LCMPH acts as a wholly owned trading subsidiary of the charity, to provide segregation of trading, or potential trading activity, from charitable activity as recommended by the Charity Commission. LCMPH commenced trading from 1 July 2021. The Directors of LCMPH entered into a contract to purchase 27 properties from the parent company (LCM). The wholly owned subsidiary (LCMPH) used an intercompany loan from LCM to purchase these properties with any difference to their holding value being treated as an investment in LCMPH by LCM which is subject to an annual impairment review as the properties are being sold. These transactions are reflected in the accounts of LCM as investment properties replaced by a subsidiary investment and an inter-company loan. Similarly, LCMPH leased back these properties to the parent company.

4C. MANAGEMENT STRUCTURE

London City Mission (LCM)’s Leadership Team are accountable to the Board of Directors to collectively lead and serve LCM. They have responsibility to plan, propose and implement the strategy of the organisation. The members of the Leadership Team are as follows:

4D. PAY POLICY FOR SENIOR STAFF

The Board of Trustees and the Leadership Team comprise the key management personnel of The London City Mission (LCM), in charge of directing and operating LCM on a day-to-day basis. All Trustees, with the exception of the Chief Executive Officer, give their time freely and received no remuneration in the year.

Details of Trustees’ expenses are disclosed in Note 3 to the Accounts, and related party transactions in Note 20.

The salaries and benefits of the senior staff on the Leadership Team (excluding the CEO) are set by the Chief Executive Officer and Director of People & Organisational Development and approved by the HR Subcommittee of the Board, with reference to levels of responsibility and rates of remuneration in charities of similar size and objects. The Chief Executive Officer’s salary and benefits are set by the LCM Directors. Rates of pay are reviewed annually. Details are disclosed in Note 3 to the Accounts.

4E. DIRECTORS’ RESPONSIBILITIES

The Directors are responsible for preparing the Directors’ annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Directors to prepare financial statements for each financial year. Under company law the Directors must not approve the

financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including its income and expenditure, of the charity for the year. In preparing those financial statements the Directors are required to:

The Directors are responsible for keeping adequate accounting records that are sufficient to show and explain the charity’s transactions and disclose with reasonable accuracy at any time the financial position of the charity, and enable them to ensure that the financial statements comply with the requirements of the Companies Act 2006.

They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

4F. DIRECTORS’ STATEMENT

Each of the Directors has confirmed that, so far as they are aware, there is no relevant audit information of which the charitable company’s auditors are unaware, and that they have taken all the steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the charitable company’s auditors are aware of that information.

REPORT OF THE DIRECTORS SIGNED ON BEHALF OF THE DIRECTORS

GRAHAM D MILLER, CHIEF EXECUTIVE AND DIRECTOR 13 JULY 2026

42

43

5. INDEPENDENT AUDITORS’ REPORT

5. INDEPENDENT AUDITORS’ REPORT

OPINION

Ireland (United Kingdom Generally Accepted Accounting Practice).

We have audited the financial statements of The London City Mission (the ‘parent charitable company’) and its subsidiaries (the ’group’) for the year ended 31 December 2025 which comprise the Group Statement of Financial Activities, the Group and Parent Charitable Company Balance Sheets, the Group Cash Flow Statement and notes to the financial statements, including 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

In our opinion the financial statements:

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 charitable company 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 parent charitable company’s ability to continue as a going concern for a period of at least twelve 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, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained in 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 there is 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.

OPINIONS ON OTHER MATTERS PRESCRIBED BY THE COMPANIES ACT 2006

In our opinion, based on the work undertaken in the course of the audit:

MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION

In the light of the knowledge and understanding of the group and parent charitable company and their environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the trustees’ annual report.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

RESPONSIBILITIES OF TRUSTEES

As explained more fully in the trustees’ responsibilities statement, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for

44

45

5. INDEPENDENT AUDITORS’ REPORT

expressing an opinion on the effectiveness of the group and parent charitable company’s internal control.

such internal control as the trustees 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 and parent charitable company’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 parent charitable company or to cease operations, or have no realistic alternative but to do so.

• Conclude on the appropriateness of the trustees’ use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the group and parent charitable company’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the group or parent charitable company to cease to continue as a going concern.

AUDITOR’S RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS

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 aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

As part of an audit in accordance with ISAs (UK), we exercise professional judgement and maintain professional scepticism throughout the audit. We also:

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in

respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

The objectives of our audit in respect of fraud, are to: identify and assess the risks of material misstatement of the financial statements due to fraud; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses to those assessed risks; and to respond appropriately to instances of fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both management and those charged with governance of the charitable company.

Our approach was as follows:

There are inherent limitations in the audit procedures described above. We are less likely to become aware of instances of non-compliance

with laws and regulations that are not closely related to events and transactions reflected in the financial statements. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

USE OF OUR REPORT

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters which we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to any party other than the charitable company and charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Andrew Stickland (Senior Statutory Auditor)

for and on behalf of Moore Kingston Smith LLP, Statutory Auditor

9 Appold Street London EC2A 2AP Date 15/07/2026

46

47

6. GROUP STATEMENT OF FINANCIAL ACTIVITIES (SOFA)

6. GROUP STATEMENT OF FINANCIAL ACTIVITIES (SOFA)

----- Start of picture text -----
Notes Unrestricted Designated Restricted Endowment 2025 2024
funds Funds funds funds Total Total
£’000 £’000 £’000 £’000 £’000 £’000
Voluntary income
Donations 1,559 - 1,941 - 3,500 3,894
- - -
Legacies 1,906 1,906 2,605
Income from investments
Listed Investments 191 - - - 191 312
Investment Property 803 - - - 803 707
Income from charitable activities
Leases to churches & charitable
organisations 166 - - - 166 267
Income from book sales, training &
resources 31 - - - 31 10
Income from other trading activities
Income from unsold properties 102 - - - 102 78
Other income
Other income 11 - - - 11 6
Net gain on sale of tangible fixed assets 1,106 614 - - 1,720 1,044
TOTAL INCOME 5,875 614 1,941 - 8,430 8,923
Expenditure on raising funds
Management of investment properties 673 10 23 - 706 1,063
Fundraising & Supporter Partnerships 1,384 9 13 - 1,406 1,451
Investment management fees 11 - - - 11 20
2,068 19 36 - 2,123 2,534
NET INCOME AVAILABLE FOR CHARITABLE OBJECTIVES 3,807 595 1,905 - 6,307 6,389
EXPENDITURE ON MISSION ACTIVITIES
Church Mobilisation
Diaspora 1,217 85 111 - 1,413 1,471
Children, Youth & Schools 1,059 85 352 - 1,496 1,510
Islam & Other Religions 933 71 142 - 1,146 1,210
Webber Street 545 62 498 - 1,105 1,125
Cornerhouse 338 23 17 - 378 437
Other Homeless & Marginalised Ministry 862 62 159 - 1,083 1,310
Council Estates & Seniors 688 49 88 - 825 931
LCM Pioneers 258 5 242 - 505 622
Thought Leadership
Training, Thought Leadership & Church
Development 869 7 146 - 1,022 1,020
Organisational Fitness
Retirement Housing, Christian Centre
upkeep & other costs. 568 220 267 - 1,055 1,121
Exceptional Item – Pension Scheme
buyout 3 - 228 - - 228 986
TOTAL CHARITABLE EXPENDITURE 7,337 897 2,022 - 10,256 11,743
TOTAL EXPENDITURE 2 9,405 916 2,058 - 12,379 14,277
NET INCOME/(EXPENDITURE) BEFORE INVESTMENT
GAINS/LOSSES (3,530) (302) (117) - (3,949) (5,354)
Realised net (losses)/gains on investments 6 (72) - - - (72) 837
Unrealised (losses)/gains on investments 6 (412) - - (4) (416) (146)
NET INCOME/(EXPENDITURE) BEFORE TRANSFERS (4,014) (302) (117) (4) (4,437) (4,663)
----- End of picture text -----

----- Start of picture text -----
Notes Unrestricted Designated Restricted Endowment 2025 2024
funds funds funds funds Total Total
£’000 £’000 £’000 £’000 £’000 £’000
NET INCOME/(EXPENDITURE) BEFORE TRANSFERS (4,014) (302) (117) (4) (4,437) (4,663)
Transfer between funds 11, 13 4,014 (4,025) 11 - - -
NET INCOME/(EXPENDITURE) AFTER TRANSFERS - (4,327) (106) (4) (4,437) (4,663)
Actuarial (losses)/gains on defined benefit
pension scheme 9 - - - - - -
NET MOVEMENT IN FUNDS - (4,327) (106) (4) (4,437) (4,663)
RECONCILIATION OF FUNDS
Total funds brought forward 6,201 49,488 1,701 1,250 58,640 63,303
FUND BALANCES CARRIED FORWARD 6,201 45,161 1,595 1,246 54,203 58,640
----- End of picture text -----

48

49

7. GROUP & PARENT CHARITY BALANCE SHEET

7. GROUP & PARENT CHARITY BALANCE SHEET

----- Start of picture text -----
Group Group Charity Charity
2025 2024 2025 2024
FIXED ASSETS Notes £’000 £’000 £’000 £’000
Tangible fixed assets 4 31,350 30,143 27,612 26,182
Intangible fixed assets 5 656 296 656 296
Investments 6 14,012 22,501 11,316 19,340
46,018 52,940 39,584 45,818
CURRENT ASSETS
Debtors 7 2,646 2,818 12,106 13,777
Cash and Cash Equivalents 6,220 4,014 6,195 3,998
8,866 6,832 18,301 17,775
LIABILITIES
Amounts falling due within one year 8 (681) (1,132) (449) (1,493)
NET CURRENT ASSETS 8,185 5,700 17,852 16,282
NET ASSETS 54,203 58,640 57,436 62,100
FUNDS
Designated funds 11 45,161 49,488 45,161 49,488
General reserve 12 6,201 6,201 9,434 9,661
UNRESTRICTED FUNDS 51,362 55,689 54,595 59,149
RESTRICTED FUNDS 13 1,595 1,701 1,595 1,701
ENDOWMENT FUNDS 14 1,246 1,250 1,246 1,250
TOTAL FUNDS 54,203 58,640 57,436 62,100
----- End of picture text -----

The charity has taken the exemption under Companies Act 2006 s.408 to omit its profit and loss account from the statutory group accounts. The Total Incoming Resources for the charity during the year ended 31 December 2025 was £8,657k (2024: £10,564k) and Net (Expenditure) Income during the year ended 31 December 2025 was £4,664k (2024: (£5,118k)). This figure reflects the charitable donations made by LCMPH to LCM, and the impairment of LCM’s investment of LCMPH, both of which are eliminated in the group SOFA.

Approved and authorised by the Board on 13 July 2026 and signed on its behalf by:

George Stylianides, On behalf of the Finance Subcommittee

Richard Montgomery, Chair of the Board

8. GROUP CASHFLOW STATEMENT

----- Start of picture text -----
2025 2024
Cash flows from operating activities: £’000 £’000
Net cash used in operating activities (5,940) (5,956)
Cash flows from investing activities:
Dividends, interest and rents from investments 994 1,019
Proceeds from sale of tangible fixed assets 2,149 3,608
Purchase of tangible fixed assets (2,606) (6,518)
Purchase of intangible fixed assets (432) (256)
Proceeds from sale of fixed asset investments 8,876 20,834
Purchase of fixed asset investments (835) (11,157)
Net cash provided by investing activities 8,146 7,530
Cash flows from financing activities:
- -
Repayment of Loans
- -
Net cash provided by financing activities
Increase in cash and cash equivalents 2,206 1,574
2025 2024
NOTES TO CASH FLOW STATEMENT £’000 £’000
1. Reconciliation of net income for the year to
net cash outflow from continuing operating activities
Net income (4,437) (4,663)
Investment income (994) (1,019)
Gain on disposal of tangible fixed assets (1,720) (1,044)
Realised (gains)/losses on investments 72 (837)
Unrealised (gains)/losses on investments 416 146
Depreciation on tangible fixed assets 930 1,520
Amortisation of Intangible assets 72 58
Decrease/(increase) in stocks - -
Decrease/(increase) in debtors 172 (390)
(Decrease)/increase in creditors (451) 273
Net cash outflow from operating activities (5,940) (5,956)
1 Jan Change 31 Dec
2025 in year 2025
2. Analysis of changes in net debt equivalents during the year £’000 £’000 £’000
Cash and cash equivalents 4,014 2,206 6,220
----- End of picture text -----

The London City Mission, Company number – 04284615

50

51

9. NOTES TO THE ACCOUNTS

9. NOTES TO THE ACCOUNTS

1. ACCOUNTING POLICIES

(A) BASIS OF ACCOUNTING

The financial statements have been prepared in accordance with 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) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

The presentational currency used is British pound sterling. Balances are rounded to the nearest £.

The London City Mission (LCM) meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).

Basis of consolidation

The London City Mission is the only member of its subsidiary company London City Mission Property Holdings limited (Company no. 12320018), a company limited by shares. Group accounts have therefore been prepared and the assets, liabilities and results of the subsidiary are consolidated into these financial statements. Summarised details see Note 6.

Going concern

The Directors of LCM confirm that in their view LCM has access to sufficient cash resources to cover its expenditure for the foreseeable future. The Directors acknowledge that there are financial risks to the organisation including inflationary pressures, a possible slowdown in the UK and global economy and changes in property prices. These could increase LCM’s costs, reduce donation income and reduce proceeds from sale of property.

At the end of 2025, LCM held £8.6m in liquid assets (2024: £6.8m), comprising cash or marketable securities that can be liquidated at short notice, which amounts to around seven to eight months of operating expenses. The Property Development Programme is forecast to provide more than £2.8m of cash receipts in 2026. If necessary, further cash can be obtained by either

accelerating the disposal of properties currently let out commercially or borrowing against the value of these properties. LCM is continuing to use the assets in the Ministry Sustainability fund to fund planned reducing deficits until a breakeven position is reached by the mid 2030’s.

Having reviewed these factors, the Directors believe that LCM has access to the resources needed to ensure that LCM continues as a going concern. Accordingly, the financial statements continue to be prepared on a going concern basis.

(B) TANGIBLE FIXED ASSETS AND DEPRECIATION

Freehold and long leasehold buildings are capitalised at historical cost or probate value if donated to the charity.

For each freehold property, we assume a cost ratio of 50:50 divided between land and buildings. Freehold land is not depreciated. Freehold buildings are depreciated over their expected useful lives, taken to be 50 years (at 2% per year).

Leasehold property is depreciated over the shorter of the remaining useful life or the remaining period of the lease.

Motor Vehicles and Fixtures and fittings are depreciated at 25%, and 20%, on a straight-line basis respectively. IT capitalisation is capitalised at 33.33% on cost. Property development costs were transferred to be held within the net book value of the property they relate to in 2024, they are depreciated at the same rates as the corresponding property (freehold or leasehold).

(C) INTANGIBLE FIXED ASSETS AND AMORTISATION

Software is amortised over a useful economic life of 5 years once it has entered into use.

(D) PROPERTY REPAIRS AND IMPROVEMENT COSTS

Repairs to properties are accounted for under charitable expenditure except where the floor area of a property is extended, or the improvement is considered to be to the fabric of the building and its fixtures and fittings, in which case the cost is capitalised.

(E) INVESTMENTS

Investments in subsidiaries are held at fair value. Investments (including investment properties) are stated at market value. Realised and unrealised

52

53

9. NOTES TO THE ACCOUNTS

gains and losses on investments are included in the Statement of Financial Activities. Investment income is credited to income on an accruals basis. The portfolio management fees are included in the Statement of Financial Activities.

Investment property is property deemed to be held for the sole purpose of financial gain to LCM, is held at the Trustees’ best estimate of valuation and is not depreciated, which is permitted under the Charity SORP 2019. The Trustees perform a review of the valuation annually. All changes in value in the year are reported in the Statement of Financial Activities.

(F) DEBTORS

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

(G) CASH AND CASH EQUIVALENTS

Cash consists of cash held in current bank accounts. Cash equivalents are short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value, including short term notice accounts with short maturity of up to and including 95 days.

(H) CREDITORS AND PROVISIONS

Creditors and provisions are recognised where the charity has a present obligation resulting 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 normally recognised at their settlement amount after allowing for any trade discounts due.

(I) PROPERTY AWAITING SALE

Properties are held at market value where they have been given to LCM as gifts, and are awaiting sale, being either on the market, or earmarked for sale but not yet marketed. Where properties that have been held for charitable purposes, or for investment purposes, are not deemed to be awaiting sale, they are kept in Tangible Fixed Assets or Investment Properties, respectively.

(J) FINANCIAL INSTRUMENTS

The London City Mission only has financial assets and financial liabilities of a kind that qualify as

basic financial instruments (for example cash and listed investments). Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

(K) FUNDS

Unrestricted Funds comprise:

Restricted Funds are restricted income funds, which are expendable at the discretion of the Trustees in furtherance of particular aspects of the objects of LCM and assets subject to specific purposes and conditions imposed by the donors.

Endowment Funds are funds held in trust by LCM and only the income arising can be expended.

(L) DONATIONS AND LEGACIES

Donations, and income under gift aid, are accounted for when receivable. Legacies are recognised as receivable when there is an entitlement to the funds, it is considered probable that they will be received and can be measured reliably. Donations of investments are accounted for at market value at date of transfer and properties at probate value or valuation.

(M) RENT RECEIVABLE

Rents receivable are accounted for on an accruals basis.

(N) VALUE ADDED TAX

Value Added Tax, which cannot be recovered is included in those costs in the Statement of Financial Activities.

(O) PENSION COSTS

The defined benefit pension scheme (final salary) is closed to new entrants. For defined benefit schemes, the amounts charged in resources expended are the current service costs and gains and losses on settlements and curtailments. They are included as part of staff costs. Past service costs are recognised immediately in the Statement of Financial Activities if the benefits have vested, i.e. entitlement to benefits has become unconditional. If the benefits have not vested immediately, the costs are recognised over the period until vesting occurs. Net interest

cost is charged to expenditure and is calculated by multiplying the net scheme liability by the discount rate used to determine the defined benefit obligation. Actuarial gains and losses are recognised immediately. The defined benefit scheme is funded, with the assets of the scheme held separately from those of LCM, in a separate trustee administered fund. Pension scheme assets are measured at fair value and liabilities are measured on an actuarial basis using the projected unit method and discounted at a rate equivalent to the current rate of return on a high-quality corporate bond of equivalent currency and term to the scheme liabilities. The actuarial valuations are obtained at least triennially and are updated at each balance sheet date.

The defined contribution scheme costs are included as part of staff costs and included in the Statement of Financial Activities.

(P) RESOURCES EXPENDED

Direct costs are allocated to the particular activity where the cost relates directly to that activity when invoiced. Salaries of staff, national insurance and pension contributions paid are allocated on a proportioned basis relating to the time spent.

(Q) LEASES

Payments made under operating leases are charged

to the statement of financial activities on a straightline basis over the lease term.

(R) SUPPORT COSTS

Support costs include property costs, HR, finance, IT, Communications and other administrative costs associated with supporting the charitable activities. They also incorporate governance costs associated with the management of the Mission’s assets and with constitutional and statutory requirements including advisory and audit expenditure. Support costs have been allocated to the cost of charitable activities in proportion to the headcount spent on direct charitable activities. Property costs are allocated based on the usage of the property. This allocation is set out in Note 19.

(S) SIGNIFICANT ESTIMATES AND JUDGEMENTS

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates

and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Accrued legacy income

Legacies are recognised when there is an entitlement to the funds, it is considered probable that they will be received and can be measured reliably. Any legacies not received at year end are accrued at 85% of their expected value for prudence.

Investment property

In the absence of current prices in an active market for similar properties, the directors consider information from a variety of sources, including:

Where a property is subject to a firm offer, that value is used as the value on the active market. Where a property is being marketed, the sale value is taken to represent market value. Where an investment property is not currently marketed, local postcode data is used to identify market value.

54

55

----- Start of picture text -----
9. NOTES TO THE ACCOUNTS
----- End of picture text -----

2. ANALYSIS OF RESOURCES EXPENDED

----- Start of picture text -----
Staff Total
Costs Other Dep’n 2025
Group £’000 £’000 £’000 £’000
Expenditure on raising funds 1,022 1,095 6 2,123
Charitable expenditure 6,525 2,807 924 10,256
7,547 3,902 930 12,379
2025
Included in both group and charity above: £’000
Audit fees 50
Support costs (Note 19) 7,862
----- End of picture text -----

----- Start of picture text -----
|||||| |---|---|---|---|---| |Staff|Total| |Costs|Other|Dep’n|2024| |Group|£’000|£’000|£’000|£’000| |Expenditure on raising funds|1,032|1,496|6|2,534| |Charitable expenditure|7,163|3,066|1,514|11,743| |8,195|4,562|1,520|14,277| |2024| |Included in both group and charity above:|£’000| |Audit fees|77| |Support costs (Note 19)|9,472|

----- End of picture text -----

3. STAFF COSTS

----- Start of picture text -----
2025 2024
£’000 £’000
Salaries 5,577 5,591
Social Security 651 527
Settlement Costs 80 84
Pension and Life Insurance 1,011 1,007
7,319 7,209
Expenditure on pension scheme buy-in (note 9). 228 986
7,547 8,195
----- End of picture text -----

The only member of the Board who is remunerated is Graham Miller, the Chief Executive, and his total emoluments for 2025 were £64,568 (2024 £63,529). Pension contributions of £9,716 (2024 £9,428) were also paid on his behalf. LCM rented a non-LCM owned property for him amounting to £36,600 (2024 £27,450). Expenses reimbursed amounted to £0 (2024 £0). Other board members expenses are disclosed in the Related Party transactions note.

During 2025, the LCM reached settlement agreements with five employees who subsequently left the organisation. There were eight settlements with employees in 2024.

----- Start of picture text -----
The average number of employees analysed by function was: 2025 2024
Field staff – evangelists 101 105
Other ministry staff 14 13
Maintenance staff 11 13
Support and administration staff 52 51
Employed staff 178 182
----- End of picture text -----

The average number of employees receiving emoluments for the year greater than £60,000 falling within the following band were:

----- Start of picture text -----
2025 2024
£60,000 to £69,999 2 2
£70,000 to £79,999 2 2
£80,000 to £89,999 1 1
£90,000 to £99,999 - 1
£100,000 to £109,999 1 -
----- End of picture text -----

Emoluments for the Leadership Team are shown below. The composition of the Leadership Team is set out in the Directors’ Report on Page 13. The figures below are the total cost to the LCM, including gross salaries, benefits in kind, employers NICs and employer’s pension contributions.

----- Start of picture text -----
|||| |---|---|---| |2025|2024| |£’000|£’000| |Key management emoluments|749|705|

----- End of picture text -----

Of resources expended, £2,058,139 related to restricted funds (2024 - £2,326,904).

56

57

9. NOTES TO THE ACCOUNTS

4. TANGIBLE FIXED ASSETS

----- Start of picture text -----
Freehold Land & Long Leasehold Fixtures &
Buildings Land & Buildings Fittings IT Capitalisation Total
Group £’000 £’000 £’000 £’000 £’000
Cost or valuation
at 1 January 2025 24,615 6,091 4,617 356 35,679
Transfers (45) - - - (45)
Additions 2,103 - 384 119 2,606
Disposals (908) - (2,124) (288) (3,320)
at 31 December 2025 25,765 6,091 2,877 187 34,920
Depreciation
at 1 January 2025 (2,029) (314) (2,872) (321) (5,536)
Dep’n eliminated on disposal 479 - 2,124 288 2,891
Dep’n eliminated on transfer 5 - - - 5
Charge for period (259) (95) (539) (37) (930)
at 31 December 2025 (1,804) (409) (1,287) (70) (3,570)
Net book values
at 31 December 2025 23,961 5,682 1,590 117 31,350
at 31 December 2024 22,586 5,777 1,745 35 30,143
----- End of picture text -----

Freehold Land &
Buildings
£’000
Long Leasehold
Land & Buildings
£’000
Fixtures &
Fittings
£’000
IT Capitalisation
£’000
Total
£’000		 Freehold Land &
Buildings
£’000
Long Leasehold
Land & Buildings
£’000
Fixtures &
Fittings
£’000
IT Capitalisation
£’000
Total
£’000		 Freehold Land &
Buildings
£’000
Long Leasehold
Land & Buildings
£’000
Fixtures &
Fittings
£’000
IT Capitalisation
£’000
Total
£’000		 Freehold Land &
Buildings
£’000
Long Leasehold
Land & Buildings
£’000
Fixtures &
Fittings
£’000
IT Capitalisation
£’000
Total
£’000		 Freehold Land &
Buildings
£’000
Long Leasehold
Land & Buildings
£’000
Fixtures &
Fittings
£’000
IT Capitalisation
£’000
Total
£’000
Central Offce, Retirement Homes &
Other Properties
6,366
Missionary and Staff Housing
15,977
Tenanted Properties
-
Christian Centres
1,618		 806
4,380
-
496		 180
616
24
770		 117
-
-
-		 7,469
20,973
24
2,884
23,961 5,682 1,590 117 31,350

----- Start of picture text -----
Freehold Land & Long Leasehold
Buildings Land & Buildings Fixtures & Fittings IT Capitalisation Total
Charity £’000 £’000 £’000 £’000 £’000
Cost or valuation
at 1 January 2025 20,243 6,091 4,618 356 31,308
Transfers (45) - - - (45)
Additions 2,104 - 384 119 2,607
Disposals (713) - (2,125) (288) (3,126)
at 31 December 2025 21,589 6,091 2,877 187 30,744
Depreciation
at 1 January 2025 (1,618) (314) (2,873) (321) (5,126)
Dep’n eliminated on disposal 457 - 2,125 288 2,870
Dep’n eliminated on transfer 5 - - - 5
Charge for period (210) (95) (539) (37) (881)
at 31 December 2025 (1,366) (409) (1,287) (70) (3,132)
Net book values
at 31 December 2025 20,223 5,682 1,590 117 27,612
at 31 December 2024 18,625 5,777 1,745 35 26,182
Freehold Land & Long Leasehold
Buildings Land & Buildings Fixtures & Fittings IT Capitalisation Total
£’000 £’000 £’000 £’000 £’000
Central Office, Retirement
Homes & Other Properties 4,169 806 180 117 5,272
Missionary and Staff Housing 15,781 4,380 616 - 20,777
Tenanted Properties - - 24 - 24
Christian Centres 273 496 770 - 1,539
20,223 5,682 1,590 117 27,612
----- End of picture text -----

58

59

9. NOTES TO THE ACCOUNTS

5. INTANGIBLE FIXED ASSETS

----- Start of picture text -----
Software
Group and charity £’000
Cost or valuation
at 1 January 2025 560
Additions 432
-
Disposals
at 31 December 2025 992
Amortisation
at 1 January 2025 (264)
-
Amortisation eliminated on disposal
Charge for period (72)
at 31 December 2025 (336)
Net book values
at 31 December 2025 656
at 31 December 2024 296
----- End of picture text -----

6. FIXED ASSET INVESTMENTS

----- Start of picture text -----
Investec Cash and COIF Property Total
Group £’000 £’000 £’000 £’000
Valuation at 1 January 2025 2,821 417 19,263 22,501
Additions 835 - - 835
Disposals (766) - (8,110) (8,876)
Transfers at book value - - 40 40
Net realised (losses)/gains 100 - (172) (72)
Net unrealised (losses)/gains 202 (5) (613) (416)
Valuation at 31 December 2025 3,192 412 10,408 14,012
Cost at 31 December 2025 1,935 406 3,833 6,174
Investment in
Investec Cash and COIF Property LCMPH Total
Charity £’000 £’000 £’000 £’000 £’000
Valuation at 1 January 2025 2,821 417 9,931 6,171 19,340
Additions 835 - - - 835
Disposals (766) - (6,654) - (7,420)
Transfers at book value - - 40 - 40
Net realised (losses)/gains 100 - (246) - (146)
Net unrealised (losses)/gains 202 (5) 322 (1,852) (1,333)
Valuation at 31 December 2025 3,192 412 3,393 4,319 11,316
Cost at 31 December 2025 1,935 406 1,549 16,900 20,790
----- End of picture text -----

London City Mission (LCM) holds a wide range of investments managed by Investec and COIF. At year end 57% (2024: 59%) are overseas investments.

Unrealised gains on property represent gains on revaluations of investment properties to market value on the basis of Trustees estimates. In the case of properties that have been transferred from tangible fixed assets this year, this is a revaluation to market value from depreciated historic cost.

LONDON CITY MISSION PROPERTY HOLDINGS LTD

London City Mission Property Holdings Ltd is a private limited company (Company No. 12320018) which is controlled by LCM, which owns 100% of the shareholding. Its results are consolidated into the LCM group accounts.

Its registered address is 175 Tower Bridge Road, London, SE1 2AH

----- Start of picture text -----
2025 2024
£’000 £’000
Turnover 1,641 3,330
Cost of sales (596) (828)
Other operating income 4 57
-
Gain on sale of fixed assets 1,056
Administrative expenses (819) (890)
Profit for the year 1,286 1,669
Total Assets 9,812 11,695
Total Liabilities (9804) (11,696)
Net Funds 8 (1)
----- End of picture text -----

Each year, any taxable profit of London City Mission Property Holdings Ltd is distributed to London City Mission.

60

61

9. NOTES TO THE ACCOUNTS

7. DEBTORS

----- Start of picture text -----
2025 2024 2025 2024
Group Group Charity Charity
£’000 £’000 £’000 £’000
Cash due from legacies 2,123 2,187 2,123 2,187
Staff loans and season tickets 13 15 13 15
Accrued Income 106 128 106 128
Prepayments 184 160 184 159
- -
Intercompany balances 9,570 11,030
Other debtors 220 328 110 258
2,646 2,818 12,106 13,777
----- End of picture text -----

Of the intercompany balance, £8,787k relates to an intercompany loan (2024 - £11,030k), which is receivable over more than one year, being paid off as LCMPH sells the properties it owns.

8. CREDITORS

----- Start of picture text -----
2025 2024 2025 2024
Group Group Charity Charity
Amounts falling due within one year: £’000 £’000 £’000 £’000
Accruals 363 192 152 127
Trade creditors 83 128 83 128
Rent deposits 12 34 12 34
Deferred Income 74 279 54 103
Intercompany Balances - - - 955
Other creditors 149 499 148 146
681 1,132 449 1,493
----- End of picture text -----

----- Start of picture text -----
2025 2025
Group Charity
Reconciliation of Deferred Income £’000 £’000
Amounts brought forward 279 103
Amounts released in year (448) (292)
Amounts added 243 243
Amounts carried forward 74 54
----- End of picture text -----

Deferred income in LCM relates to rent received in 2025 relating to 2026. Additional amounts in the LCM group relate to a deposit received for a property not sold by year end.

9. PENSION COMMITMENTS – GROUP AND CHARITY

London City Mission (LCM) operates a defined benefit pension scheme for all qualifying employees who elected to join the scheme but was closed to new entrants in 2006. The assets of the scheme are held separately from the assets of LCM. Any contributions and costs of the scheme are charged to the Statement of Financial Activities so as to spread the cost of pensions over employees’ working lives with LCM.

In June 2022, the charity and pension scheme trustees jointly appointed Lane Clark & Peacock (LCP) to advise on a bulk annuity purchase to cover the defined benefit pension scheme’s liabilities, known as a scheme buy-out. This would eliminate the ongoing costs of operating the scheme, which are borne by LCM, and any risk of a deficit arising in future, while maintaining security for members of the scheme. The buyout of the scheme was furthered in 2025, with costs of £228k (2024 – 986k) being charged to the SOFA. It is estimated that LCM will need to pay a further £0.5m to complete the buyout. £0.5m has therefore been retained in the Pension Deficit Fund (see note 11) to cover the wind-up process, which we aim to complete in 2026.

Until the buyout process is completed, LCM is required to make the following disclosures, which set out the values of the assets and liabilities in the scheme across the financial year, as well as the assumptions used to value them.

A formal triennial valuation of the scheme as at 31 May 2023 was completed in July 2024 by the scheme actuary. The May 2023 valuation showed that the market value of the scheme’s assets was £3.772m (2020: £5.392m). The actuarial value of those total assets represented 101% (2020: 67%) of the benefits that had accrued to members. The funding position calculated on a technical provisions basis as at 31 May 2023 showed a surplus and no deficit repair contributions are therefore required. The next triennial review is due 31 May 2026.

The actuary has carried out a further full valuation of the scheme as at 31 December 2025 to produce the information required under FRS 102 – Section 28 Disclosure Report.

----- Start of picture text -----
2025 2024
A. Change in defined benefit obligation £000 £000
1. Defined benefit obligation at end of prior year 6,113 7,395
- -
2. Cost (excluding Interest)
- -
a. Change arising from employee service in reporting period
- -
b. (Gain)/ loss on curtailments / changes / introductions
c. (Gain)/ loss on settlements - -
3. Interest expense 324 346
4. Cash Flows
a. Benefit payments from plan assets -447 -337
- -
b. Benefit payments from employer
- -
c. Settlement payments from plan assets
- -
d. Settlement payments from employer
- -
e. Participant contributions
- -
f. Administrative expenses included in the BDO
- -
g. Taxes included in the BDO
- -
h. Insurance premiums for risk benefits
5. Other Significant Events
- -
a. Increase (decrease) due to effect of any business combinations / divestitures / transfers
- -
b. Increase (decrease) due to plan combinations
6. Remeasurements
a. Effect of changes in assumptions -39 -672
b. Effect of experience adjustments 16 -619
7. Effect of changes in foreign exchange rates
8. Defined benefit obligation at end of year 5,967 6,113
----- End of picture text -----

62

63

9. NOTES TO THE ACCOUNTS

----- Start of picture text -----
2025 2024
B. Change in fair value of plan assets £000 £000
1. Fair value of plan assets at end of prior year 6,169 7,554
2. Interest Income 327 354
- -
3. Cash flows
- -
a. Total Employer contributions
(i) Employer contributions - 530
- -
(ii) Employer direct benefit payments
- -
(iii) Employer direct settlement payments
- -
b. Participant contributionsw
c. Benefit payments from plan assets -447 -337
-
d. Benefit payments from employer
- -
e. Settlement payments from plan assets
- -
f. Settlement payments from employer
- -
g. Administrative expenses paid from plan assets
- -
h. Taxes paid from plan assets
- -
i. Insurance premiums for risk benefits
- -
4. Other Significant events
- -
a. Increase (decrease) due to effect of any business combinations / divestitures / transfers
- -
b. Increase (decrease) due to plan combinations
5. Remeasurements - -
a. Return on plan assets (excluding interest income) -65 -1,932
- -
6. Effect of changes in foreign exchange rates
7. Fair value of plan assets at end of year 5,984 6,169
----- End of picture text -----

C. Change in reimbursement rights

C. Change in reimbursement rights
1. Reimbursement Rights at end of prior year
-
2. Change arising from employee service in reporting period to reimbursement rights
-
3. Gain/ (loss) on settlements
-
4. Interest Income
-
5. Cash Flows
-
a. Employer contributions to reimbursement rights
-
b. Reimbursements to employer
-
6. Other Signifcant events
-
a. Increase (decrease) due to effect of any business combinations / divestitures / transfers
-
b. Increase (decrease) due to plan combinations
-
7. Remeasurements
-
a. Return on reimbursement rights (excluding interest income)
-
8. Effect of changes in foreign exchange rates
-		 -
-
-
-
-
-
-
-
-
-
-
-
-
9. Reimbursement Rights at end of year
-
-

----- Start of picture text -----
2025 2024
D. Change to asset ceiling £000 £000
1. Asset Ceiling at end of prior year 56 159
2. Interest income 3 8
3. Remeasurements - -
a. Changes in asset ceiling (excluding interest income) -42 -111
- -
4. Effect of changes in foreign exchange rates
5. Asset ceiling at end of year 17 56
E. Amounts recognized in statement of financial position
1. Defined benefit obligation 5,967 6,113
2. Fair value of plan assets -5,984 -6,169
3. Funded Status -17 -56
4. Effect of asset ceiling 17 56
2025 2024
F. Cost relating to defined benefit plans £000 £000
1. Cost (excluding interest)
- -
a. Change arising from employee service in reporting period
- -
b. Change arising from employee service in reporting period to reimbursement rights
- -
c. (Gain) / loss on curtailments / changes / introductions
d. (Gain) / loss on settlements - -
e. Total cost - -
2. Net interest cost
a. Interest expense on DBO 324 346
b. Interest (income) on plan assets -327 -354
- -
c. Interest (income) on reimbursement rights
d. Interest expense on effect of (asset ceiling) 3 8
e. Total net interest cost - -
- -
3. Remeasurements of Other Long Term Benefits
- -
4. Administrative expenses and/or taxes (not reserved within DBO)
- -
5. Cost relating to defined benefit plans included in P&L
6. Remeasurements (recognized in other comprehensive income)
a. Effect of changes in assumptions -39 -672
b. Effect of experience adjustments 16 -619
c. (Return) on plan assets (excluding interest income) 65 1,932
d. (Return) on reimbursement rights (excluding interest income)
e. Changes in asset ceiling (excluding interest income) -42 -111
f. Total remeasurements included in OCI - 530
7. Total cost related to defined benefit plans recognised in SOFA - 530
----- End of picture text -----

64

65

9. NOTES TO THE ACCOUNTS

----- Start of picture text -----
2025 2024
G. Net defined benefit liability (asset) reconciliation £000 £000
1. Net defined benefit liability (asset) at beginning of year)
- -
2. Cost relating to defined benefit plans included in P&L
3. Total remeasurements included in OCI - 530
4. Other significant events
-
a. Net transfer in/(out) (including the effect of any business combinations/divestitures) -
- -
b. Amounts recognized due to plan combinations
5. Cash flows
a. Employer contributions - -530
- -
b. Employer direct benefit payments
- -
c. Employer direct settlement payments
6. Credit to reimbursements - -
- -
7. Effect of changes in foreign exchange rates
8. Net defined benefit liability (asset) at end of year - -
2025 2024
H. Defined benefit obligation £000 £000
a. Actives - -
b. Vested deferreds 2,853 2,812
c. Retirees 3,114 3,301
d. Total 5,967 6,113
2025 2024
I. Plan assets £000 £000
1. Fair value of plan assets
a. Cash and cash equivalents 17 56
- -
b. Equity Instruments
c. Debt instruments - -
d. Real Estate - -
e. Other 5,967 6,113
f. Total 5,984 6,169
2. Amount invested in entity’s own assets
- -
a. Equity Instruments
b. Debt instruments - -
c. Real Estate - -
d. Other - -
e. Total - -
3. Actual return on plan assets 262 -1,578
----- End of picture text -----

----- Start of picture text -----
J. Significant Actuarial Assumptions 2025 2024
----- End of picture text -----

Discount rate
5.50%
Duration used to set discount rate (in years)
11
Price infation rate (RPI)
3.00%
Price infation rate (CPI)
2.60%
Post retirement mortality assumption
112% (males) and 107% (females)
of the standard tables S4PMA/
S4PFA_M, Year of Birth, no age rating
projected using CMI_2024 converging
to 1.25% p.a
Assumed life expectancy on retirement at age 65
Retiring today (member age 65)
20.7 (M) / 23 (F)
Retiring in 20 years (member age 45 today)
22 (M) / 24.5 (F)
Discount rate
5.50%
Price infation rate (RPI)
3.20%
Price infation rate (CPI)
2.80%
Post retirement mortality assumption
110% (males) and 105% (females)
of the standard tables S3PMA/
S3PFA_M, Year of Birth, no age rating
projected using CMI_2023 converging
to 1.25% p.a
Assumed life expectancy on retirement at age 65
Retiring today (member age 65)
20.7 (M) / 23.0 (F)
Retiring in 20 years (member age 45 today)
21.9 (M) / 24.5 (F)		 5.50%
11
3.20%
2.80%
110% (males) and 105% (females) of
the standard tables S3PMA/ S3PFA_M,
Year of Birth, no age rating projected
using CMI_2023 converging to 1.25%
p.a
20.7 (M) / 23 (F)
21.9 (M) / 24.5 (F)
4.80%
3.20%
2.80%
113% of the standard tables S3PMA/
S3PFA_M, Year of Birth, no age rating
projected using CMI_2022 converging
to 1.25% p.a
20.5 (M) / 22.4 (F)
21.8 (M) / 23.9 (F)

----- Start of picture text -----
K. Sensitivity Analysis
----- End of picture text -----

Present value of defned beneft obligation
Discount rate - 50 basis points 6,292 6,454
Discount rate + 50 basis points 5,670 5,803
Price infation rate - 25 basis points 5,916 6,069
Price infation rate + 25 basis points 6,018 6,166
Post-retirement mortality assumption - 1 year age rating 6,196 6,328

66

67

9. NOTES TO THE ACCOUNTS

L Expected cash fows for the following year 2025
1. Expected employer contributions £000
2. Expected contributions to reimbursement rights
3. Expected total beneft payments
Year 1 382
Year 2 400
Year 3 425
Year 4 399
Years 450
Next 5 years 2,077
M. Membership statistics
1. Census date 31-May-23
2. Actives
a. Number
b. Total annual pensionable pay
c. Average annual pensionable pay
d. Average age
e. Average past service
3. Vested deferreds
a. Number 94
b. Average annual pension 876
c. Average age 58.00
4. Retirees
a. Number 52
b. Average Annual Pension 5,812
c. Average age 77.00

10. TAXATION

As a registered charity, The London City Mission (LCM) is not liable to taxation on its income from charitable activities. Income tax is recovered on gifts donated by supporters under the Gift Aid Scheme.

11. DESIGNATED FUNDS

----- Start of picture text -----
Balance Balance
1 Jan 2025 Income Expenses Gains/losses Net transfers 31 Dec 2025
Group £’000 £’000 £’000 £’000 £’000 £’000
Central Office, retirement,
other properties and vehicles 4,881 - (180) 115 (10) 4,806
Missionary and staff housing 19,057 - (361) 499 1,582 20,777
Tenanted properties 43 - (42) - 23 24
Christian Centres 659 - (105) - - 554
Designated Assets
(Fixed Assets less Debt) 24,640 - (688) 614 1,595 26,161
- - -
Ministry sustainability 23,500 (5,000) 18,500
Pension deficit 1,348 - (228) - (620) 500
49,488 - (916) 614 (4,025) 45,161
----- End of picture text -----

Transfers of designated assets represent the reallocation of properties, at book value, between funds. The transfer out of the Ministry Sustainability Fund is released to the General Fund in line with the Long-Term Financial Sustainability objective.

----- Start of picture text -----
Balance Balance
1 Jan 2025 Income Expenses Gains/losses Net transfers 31 Dec 2025
Charity £’000 £’000 £’000 £’000 £’000 £’000
Central Office, retirement,
other properties and vehicles 4,881 - (180) 115 (10) 4,806
Missionary and staff housing 19,057 - (361) 499 1,582 20,777
Tenanted properties 43 - (42) - 23 24
Christian Centres 659 - (105) - - 554
Designated Assets
(Fixed Assets less Debt) 24,640 - (688) 614 1,595 26,161
- - -
Ministry sustainability 23,500 (5,000) 18,500
Pension deficit 1,348 - (228) - (620) 500
49,488 - (916) 614 (4,025) 45,161
----- End of picture text -----

----- Start of picture text -----
Balance Balance
1 Jan 2024 Income Expenses Gains/losses Net transfers 31 Dec 2024
Group £’000 £’000 £’000 £’000 £’000 £’000
Central Office, retirement,
other properties and vehicles 4,085 - (541) 597 740 4,881
Missionary and staff housing 16,309 - (425) 271 2,902 19,057
Housing for the Marginalised - - - 175 (175) -
Tenanted properties 1,087 - (118) - (926) 43
Christian Centres 530 - (346) 1 474 659
Designated Assets (Fixed Assets
less Debt) 22,011 - (1,430) 1,044 3,015 24,640
- -
Ministry sustainability 30,500 (7,000) 23,500
Pension deficit 1,500 - (152) - - 1,348
54,011 - (1,582) 1,044 (3,985) 49,488
----- End of picture text -----

68

69

9. NOTES TO THE ACCOUNTS

----- Start of picture text -----
Balance Balance
1 Jan 2024 Income Expenses Gains/losses Net transfers 31 Dec 2024
Charity £’000 £’000 £’000 £’000 £’000 £’000
Central Office, retirement,
other properties and vehicles 4,393 - (541) 289 740 4,881
Missionary and staff housing 16,130 - (425) 450 2,902 19,057
Housing for the Marginalised 176 - - - (176) -
Tenanted properties 1,087 - (118) - (926) 43
Christian Centres 530 - (346) - 475 659
Designated Assets (Fixed Assets
less Debt) 22,316 - (1,430) 739 3,015 24,640
- - -
Ministry sustainability 30,500 (7,000) 23,500
Pension deficit 1,500 - (152) - - 1,348
54,316 - (1,582) 739 (3,985) 49,488
----- End of picture text -----

Transfers represent the reallocation of properties, at book value, between funds.

CENTRAL OFFICE, RETIREMENT, HOLIDAY AND OTHER PROPERTIES USED FOR DESIGNATED PURPOSES

This fund represents the carrying value of properties and other tangible fixed assets which are used for charitable purposes, including LCM’s largest asset Nasmith House, and is not available to spend on the general running of LCM. Nasmith Court flats no longer remain within this fund as they are now held as investment properties.

coming years, the ambition for LCM’s gospel ministry will inevitably need to reduce.

It is expected that the Ministry Sustainability Fund will be adjusted each year in multiples of £0.5m. £5m was drawn from the fund in 2025 to cover the deficit in the general fund.

MISSIONARIES’ AND STAFF HOUSING

This fund represents the value of residential properties used to house LCM staff.

HOUSING FOR THE MARGINALISED

This fund included the cost of six properties in Brixton which are used to provide housing and support to the vulnerably housed under the banner of Hope Community Homes. This project was wound down in the year to 31 December 2024 to be replaced with an alternative ministry, so the property is no longer recognised within this fund.

PENSION DEFICIT

As LCM furthers the buyout of the closed pension scheme, the Pension Deficit designated fund is being used to fund this. During the year, £228k was used toward the buyout of the scheme, a transfer out was made to reduce the amount in the fund to £500k, which the trustees anticipate is sufficient to cover the remaining cost of the buyout.

12. GENERAL FUNDS

TENANTED PROPERTIES

This fund included houses and Christian Centres not needed at the present time for housing or ministry needs and are being rented out until such time that they can be used directly by LCM. Rented out properties that are considered to be held solely for the purpose of financial gain are held as Investment Properties. Most properties in this fund have been reclassified as Christian Centres or Investment Properties in year to better reflect their use, what remains are a small number of fixtures and fittings which are being depreciated.

CHRISTIAN CENTRES

This fund represents the value of the Centres used in the activities of LCM as well as the residential accommodation on the site and other tangible fixed assets. It also includes Christian Centres rented out to other charitable organisations. Christian Centres currently not being used for ministry purposes and rented out commercially or with the intention of being sold are classified as investment properties.

MINISTRY SUSTAINABILITY FUND

The Ministry Sustainability Fund was created at the end of 2020 to fund net expenditure before investments which makes up most of the projected annual cash shortfall, and in doing so, keeps LCM’s ministry sustainable at its target size. In line with the Long-term Financial Sustainability Objective, the fund is expected to steadily reduce over the next 10 years. As this fund inevitably reduces, the planned needs of LCM will be met by steadily increasing donation income. If donation income does not increase over the

----- Start of picture text -----
Balance Net Balance
1 Jan 2025 movement 31 Dec 2025
Group £’000 £’000 £’000
General reserve 6,201 - 6,201
Balance Net Balance
1 Jan 2025 movement 31 Dec 2025
Charity £’000 £’000 £’000
General reserve 9,661 (227) 9,434
Balance Net Balance
1 Jan 2024 movement 31 Dec 2024
Group £’000 £’000 £’000
General reserve 6,422 (221) 6,201
Balance Net Balance
1 Jan 2024 movement 31 Dec 2024
Charity £’000 £’000 £’000
General reserve 10,033 (372) 9,661
----- End of picture text -----

70

71

9. NOTES TO THE ACCOUNTS

13. RESTRICTED FUNDS

----- Start of picture text -----
Balance Gains on Balance
1 Jan 2025 Income investments Expenses Transfers 31 Dec 2025
Group and charity £’000 £’000 £’000 £’000 £’000 £’000
LCM Pioneers - 306 - (306) - -
Retired fund - Property 348 - - (4) 4 348
- - - - - -
Holiday homes fund
Relief fund - Property 1,158 16 - (195) 7 986
Relief fund - General - 493 - (493) - -
Restricted Christian Centre fund 149 108 - (3) - 254
Restricted ministry fund 46 1,018 - (1,057) - 7
1,701 1,941 - (2,058) 11 1,595
----- End of picture text -----

Group and charity
Balance
1 Jan 2024
£’000
Income
£’000
Gains on
investments
£’000
Expenses
£’000
Transfers
£’000
Balance
31 Dec 2024
£’000		 Group and charity
Balance
1 Jan 2024
£’000
Income
£’000
Gains on
investments
£’000
Expenses
£’000
Transfers
£’000
Balance
31 Dec 2024
£’000		 Group and charity
Balance
1 Jan 2024
£’000
Income
£’000
Gains on
investments
£’000
Expenses
£’000
Transfers
£’000
Balance
31 Dec 2024
£’000		 Group and charity
Balance
1 Jan 2024
£’000
Income
£’000
Gains on
investments
£’000
Expenses
£’000
Transfers
£’000
Balance
31 Dec 2024
£’000		 Group and charity
Balance
1 Jan 2024
£’000
Income
£’000
Gains on
investments
£’000
Expenses
£’000
Transfers
£’000
Balance
31 Dec 2024
£’000		 Group and charity
Balance
1 Jan 2024
£’000
Income
£’000
Gains on
investments
£’000
Expenses
£’000
Transfers
£’000
Balance
31 Dec 2024
£’000
LCM Pioneers
-
Retired fund - Property
344
Holiday homes fund
834
Relief fund - Property
270
Relief fund - General
116
Restricted Christian Centre fund
4
Restricted ministry fund
54		 242
-
-
742
438
153
774		 -
-
-
-
-
-
-		 (242)
(4)
(834)
(6)
(457)
(8)
(776)		 -
8
-
152
(97)
-
(6)		 -
348
-
1,158
-
149
46
1,622
2,349
-
(2,327)
57
1,701

about from missionaries’ reports and a relief fund was established. The Fund now is represented by the Webber Street Day Centre, which underwent renovation in 2024. The transfer in 2025 consists of some small additional works to Webber Street in 2025.

RESTRICTED CHRISTIAN CENTRE FUND

This fund is made up of donations kindly given, specifically as a contribution toward running the Christian Centres owned by LCM, offset against direct costs.

RESTRICTED MINISTRY FUND

This fund is made up of specific donations generously given to support individual LCM missionaries or ministries. Donations received are spent against the cost of supporting the missionary or ministry in question.

14. ENDOWMENT FUNDS

----- Start of picture text -----
Balance Balance
1 Jan 2025 Net movement 31 Dec 2025
Group and charity £’000 £’000 £’000
Perpetual trusts 1,250 (4) 1,246
Balance Balance
1 Jan 2024 Net movement 31 Dec 2024
Group and charity £’000 £’000 £’000
Perpetual trusts 1,248 2 1,250
----- End of picture text -----

PERPETUAL TRUSTS

LCM PIONEERS

Donations received specifically as a contribution towards the employment and training of The London City Mission (LCM) Pioneers are treated as restricted and are offset against such costs.

These consist of a number of separate funds established during the history of The London City Mission (LCM) to provide an income towards the on-going costs of particular aspects of LCM’s work. The donors have insisted that the capital cannot be spent. The income generated has been used against the salary costs of the designated ministries. The net movement solely relates to the movement in the value of the investments.

RETIRED FUND (RETIRED MISSIONARIES, WIDOWS AND ORPHANS FUND)

Set up as a separate fund in 1846 to help missionaries who could no longer work, the fund today enables allowances to be paid to retired staff who retired before the establishment of LCM’s pension scheme in 1993. This fund also covers the running cost of properties used to house retired staff. The value of this fund is represented by the book value of the two properties contained within this fund. The transfer in brings into the fund the value of some small refurbishments done to the properties in 2025.

HOLIDAY HOMES FUND

The first holiday home in Ventnor, Isle of Wight, was donated to LCM in 1869 and the fund’s purpose was to ensure missionaries and their families could enjoy a break from the pressure of urban mission work. The Board decided in 2012 that the properties used for holiday homes should be sold and the one property belonging to the Fund was sold in 2013, with the proceeds transferred to a new Restricted Fund to set against the Pension Deficit. In 2024, as LCM continued to progress the buyout of this pension scheme, in line with legal advice taken, the balance of this fund was used to fund this work. The remainder of the buyout will be funded by the Pension deficit fund disclosed in note 11.

RELIEF FUND

From the early days of LCM, the desperate need of the people amongst whom the missionaries worked became apparent. Supporters of LCM specifically sent donations to help the needy that they read or heard

72

73

9. NOTES TO THE ACCOUNTS

15. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Fund balances at the end of year are represented by:

----- Start of picture text -----
Unrestricted
funds Designated funds Restricted funds Endowment funds 2025 2024
Group £’000 £’000 £’000 £’000 £’000 £’000
-
Tangible fixed assets 3,855 26,161 1,334 31,350 30,143
-
Intangible fixed 656 - - 656 296
assets
Investments - 12,766 - 1,246 14,012 22,501
Current assets 2,371 6,234 261 - 8,866 6,832
Current liabilities (681) - - - (681) (1,132)
Total net assets 6,201 45,161 1,595 1,246 54,203 58,640
Unrestricted
funds Designated funds Restricted funds Endowment funds 2025 2024
Charity £’000 £’000 £’000 £’000 £’000 £’000
Tangible fixed assets 117 26,161 1,334 - 27,612 26,182
-
Intangible fixed - - 656 296
assets 656
Investments - 10,070 - 1,246 11,316 19,340
Current assets 9,110 8,930 261 - 18,301 17,775
Current liabilities (449) - - - (449) (1,493)
Total net assets 9,434 45,161 1,595 1,246 57,436 62,100
----- End of picture text -----

16. CAPITAL AND OTHER COMMITMENTS

19. SUPPORT COSTS

----- Start of picture text -----
People &
CEO’s Organisational Communications
2025 Ministries Office Networks Development Technology Finance & Marketing Property Totals
Expenditure on - 29 13 86 78 125 55 1,390 1,776
Raising Funds
Church 285 198 89 578 524 845 404 1,731 4,654
Mobilisation
Thought 30 21 10 62 56 90 43 86 398
Leadership
Organisational 8 6 3 17 15 24 12 949 1,034
fitness
Total 323 254 115 743 673 1,084 514 4,156 7,862
People &
CEO’s Organisational Communications
2024 Ministries Office Networks Development Technology Finance & Marketing Property Totals
Expenditure on 29 14 77 77 163 57 2,031 2,448
Raising Funds
Church 365 194 88 510 504 1,077 408 2,364 5,510
Mobilisation
Thought 36 19 9 50 48 105 40 111 418
Leadership
Organisational 8 4 2 11 11 24 10 1,026 1,096
fitness
Total 409 246 113 648 640 1,369 515 5,532 9,472
----- End of picture text -----

There are no capital commitments as at 31 December 2025.

20. RELATED PARTY TRANSACTIONS

17. POST BALANCE SHEET EVENTS – INVESTMENT PROPERTY

A s at 31 December 2025, The London City Mission (LCM) was in discussions with a number of third parties to purchase or enter into development agreements for some of LCM’s investment properties. Any material changes from these negotiations were reflected by the Trustees when re-valuing properties.

18. OPERATING LEASE COMMITMENTS – GROUP AND CHARITY

Travel expenses of £817 were reimbursed to two trustees (2024: £313 – one trustee). There were no other related party transactions in the year in respect of Board members and members of the Leadership Team.

21. DONATIONS FROM TRUSTEES

Eleven (2024: Eleven) trustees and connected persons made donations in the year totalling £61,713 (2024: £31,434).

Total commitments under non-cancellable operating leases for photocopiers, and office equipment computers which expire:

----- Start of picture text -----
2025 2024
£’000 £’000
Within one year 7 14
Between two and five years 7 8
- -
In more than five years
14 22
----- End of picture text -----

74

75

LONDON CITY MISSION, 175 TOWER BRIDGE ROAD, LONDON SE1 2AH T 020 7407 7585 E ENQUIRIES@LCM.ORG.UK

76