## THE ST JAMES’S CHURCH GROWTH TRUST ## TRUSTEES ANNUAL REPORT & ACCOUNTS OF THE CHARITY ## 30 APRIL 2023 Charity Number 291697  ## THE ST JAMES’S CHURCH GROWTH TRUST ## FINANCIAL STATEMENTS YEAR ENDED 30 APRIL 2023 |CONTENTS|PAGE|PAGE|| |---|---|---|---| |O�icers and professional advisers|3||| |Chair of Trustees Statements & Annual Report 4|||| |Independent Examiner’s Report to the Trustees||5|| |Statement of Financial Activities||6|| |Balance Sheet||7|| |Notes to the Financial Statements||8|| ||||2|  ## THE ST JAMES’S CHURCH GROWTH TRUST ## OFFICERS AND PROFESSIONAL ADVISERS THE TRUSTEES OF THE CHARITY Jonathan Thornton FCA (Chair) Julian Slater FCA REGISTERED OFFICE 79 Woodland Gardens London N10 3UD INDEPENDENT EXAMINER Gina Titheridge SOLICITORS Streathers Boustred, Highgate BANKERS HSBC Bank plc, Muswell Hill 3  ## **CHAIR OF TRUSTEES & TRUSTEES ANNUAL REPORT** ## **YEAR ENDED 30 APRIL 2023** The Chair of the Trustees presents his Annual Statement and the Trustees present their Annual Report and Un-audited Financial Statements for the year ended 30 April 2023. ## **OBJECTIVES & REGULATION OF THE ST JAMES’S CHURCH GROWTH TRUST** The Trust’s objectives are: - (a) The promotion of the Christian gospel in the UK and elsewhere. - (b) The promotion of church growth. - (c) The provision of assistance to ministers of the Christian gospel. A Declaration of Trust dated 13[th] April 1985 contains the provisions that regulate the purposes and administration of the Trust. ## **REVIEW OF DEVELOPMENTS, ACTIVITIES AND ACHIEVEMENTS** The Chair of the Trustees has given due regard to the Charity commissions’ guidance on public benefit and in particular, the specific guidance on charities for the advancement of religion, education & training and the relief of poverty. All the activities of the Trust support one of these areas, most support two and some three of these areas. - nor from contracts from central of local government to deliver services. - The Trustees have a clear policy on paying sta� when necessary. - The Chair of the Trustees further states that during the period, there was continuation of the support of Christian ministries in London (focusing on social and gospel outreach) and that the Trustees review reserves policy annually and confirm that the year-end reserves are adequate to fulfill the obligation of the Charity. There are no material additional commitments or planned expenditure at the year-end. ## **THE TRUSTEES** Trustees who served the charity during the period were Mr Jonathan Thornton and Mr Julian Slater & and Julian Slater FCA Approved by the Trustees on 25[th] August 2023  4 ## THE ST JAMES’S CHURCH GROWTH TRUST INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES YEAR ENDED 30 APRIL 2023 I report on the Trust’s Unaudited Accounts for the year ended 30 April 2023 set out on pages 6-9. ## **RESPECTIVE RESPONSIBILITIES OF THE TRUSTEES & THE INDEPENDENT EXAMINER** As described on page 8, you as the Trustees are responsible to the preparation of the Accounts; You consider that section 4(2) of the Charities Act under Section 42(2) of the Act does not apply. It is my responsibility to state, on the basis of the procedures specified in the General directions given by the Charity Commissioners under section 43(7)b of the act, whether particular matters have come to my attention. BASIS OF INDEPENDENT EXAMINER’S REPORT My examination was carried out in accordance with the General Directions given by the Charities Commissioners. An independent examination includes a review of the accounting records kept by the charity and the comparison of the Accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and, consequently, I do not express an audit opinion on the view given by the Accounts. ## **INDEPENDENT EXAMINER’S STATEMENT** In connection with my examination, no matter has come to my attention: - (1) Which gives me reasonable cause to believe that in any material respect the requirements: - (a) to keep accounting records in accordance with section 41 of the Act: and - (b) to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the Act have not been met; or - (2) to which in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. SIGNED BY GINA TITHERIDGE as Independent Examiner 5  THE ST JAMES’S CHURCH GROWTH TRUST ## **STATEMENT OF FINANCIAL ACTIVITIES** YEAR ENDED 30 APRIL 2023 . Unrestricted Unrestricted Restricted Total Total General Funds Designated Funds 2022/3 2021/2 £ £ £ £ £ **INCOMING RESOURCES** General Donations 2 16,667 - - 16,667 23,190 Charitable trading - _-_ - - 200 Rent & Interest received 3 18,090 _-_ - 18,090 20,621 ______ ______ ______ ______ ______ **TOTAL INCOMING 34,757 - - 34,757 44,011 RESOURCES** ______ ______ ______ ______ ______ **RESOURCES EXPENDED** Cost of generating funds - - - Charitable expenditure 48, 066 - 48,066 33,175 Management & administration 130 130 130 _ ______ ______ ______ ______ **TOTAL EXPENDED 48,196 - 48.196 33,305** ______ ______ ______ ______ **NET (OUTGOING)/INCOMING (13,439) (13,439) 10,706 RESOURCES FOR THE YEAR** Balances brough **forward 220,227 220,227 209,521** _______ ______ _______ Balances carried forward **206,788 206,788 220,227** 6  |












|THE ST JAMES’S CHURCH GROWTH TRUST
**BALANCE SHEET**
AS AT 30 APRIL 2023
2023 2023
Note £ £
**FIXED ASSETS**
Freehold Property 4 447,300
Interest Free Loans 20,161
________
**TOTAL FIXED ASSETS**467,461
**CURRENT ASSETS**
Cash on Deposit 60,000
Cash at bank 72,611
132,611
**CREDITORS:**due within one year (28,989)
**NET CURRENT ASSETS**103,622
**CREDITORS:**due after one year 5 (167,225)
**NET ASSETS** **403,858**
**FUNDS**
Unrestricted General 205,786
Unrestricted Designated 0
Restricted 0
Fixed Assets Revaluation Reserve
198,070
**403,858**
|
2022
£
447,300
20,161
________
467,461
30,000
92,227
122,227
(28,872)
93,355
(142,519)
**418,297**
214,416
3,369
2,442
198,070
**418,297**
**7**| |---|---|---| Financial Statements were approved by the Trustees 23 August 2023 and are signed on their behalf by ………………………………………. Jonathan Thornton FCA  . THE ST JAMES’S CHURCH GROWTH TRUST ## **NOTES TO THE FINANCIAL STATEMENTS FINANCIAL ACTIVITIES** ## **1. ACCOUNTING POLICIES** ## **Basis of accounting** The Financial Statements have been prepared under the historical cost convention and in accordance with applicable accounting standards. ## **Fixed Assets** Freehold property is not depreciated and is stated at its end April 2023 valuation when an informal verbal valuation was received from Rightmove, Estate Agents. ## **2. GENERAL DONATIONS** **Total Total 2023 2022** Gift Aided 16,667 17,400 Other sources 0 5,990 16.667 23.390 **3. OTHER INCOME** Property rental income 18,000 20,550 Interest receivable 90 71 18,090 20,621 **4. Freehold Property** Freehold of 18 Wroxham Gardens, N11 (at ‘Rightmove’ informal valuation) 1,050,000 1,050,000 Less: Share owned by Senior Trustee (602,700) (602,700) (Nil rent paid in 2023 & 2024} 447,300 447,300 **8**  ## **5. CREDITORS DUE AFTER 1 YEAR** ## **Interest free Loans from Trustee** towards the purchase of the above Property: 142,519 142,519 ## **6. Waiver from the Joint Owner of** ## **18 Wroxham Gardens, N11** I, Jonathan Thornton FCA, although I own 50% of 18 Wroxham Gardens, N11, confirm that, providing the St James’s Church Growth Trust pays all repairs and maintenance of the Property, I waive my right to the rent from letting the Property in favour of the St James Church Growth Trust. 9 