THE STJAMES'S CHURCH GRowfH TRUST TRusfEESANNUAL REPORT & ACCOUNTS OFTHE CHARITY 30 APRIL 2025 Charity Number291697
THE STJAMES'S CHURCH GROWTH TRUST FINANCIAL STATEMENTS YEAR ENDED 30 APRIL 2025 CONTENTS PAGE Offlcers and professional advisers Chair of Trustees Statements & Annual Report Independent Examiner's Report to the Trustees Statement of Financial Activities Balance Sheet Notes to the Financial Statements
THE STJAMES'SCHURCH GRowfH TRUST OFFICERS AND PROFESSIONAL ADVISERS THE TRUSTEES OFTHE CHARITY Jonathan Thornton FCA (Chair) Julian S18ter FCA REGisfERED OFFICE 79 Woodland Gardens London N103UD INDEPENDENT EXAMINER Stephen Booth SOLICITORS Streathers Boustred, Highgate BANKERS HSBC Bank plc, Muswell Hlll
CHAIR OF TRUSTEES & TRusfEES ANNUAL REPORT YEAR ENDED 30APRIL 2025 The Chair of the Trustees presents his Annual Statement and the Trustees present their Annual Report and Un-audited Financial Ststernents forthe year ended 30 April 2025. OBJECTIVES & REGULATION OF THE ST JAMES'S CHURCH GROWTh1 TRUST The Trust's objectives are: lal The promotion of the Christian gospel in the UK and elsewhere. Ib) The promotion of church groNv(h. {c) The provision of assistance to ministers of the Christlan gospel. A Declaration of Tmst dated 1P April 1985 contsins the provisions that regulate the purposes and administration of the Trust. REVIEW OF DEVELOPMENT& ACTNMESANDACHIEVEMENTS The Chairof theTrustees has thn due regard tothe 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 8UPPOrt one ofthese areas, most suppon two and some three of these areas. During the reporting perlod the Chalr of Trustees States the Twstees received no financingfrorn central or local government grants nor from contracts from centr81 of local governrnent to deliver services. The Trustees have a clear policy on paying 8taff when necessary. The Trustees have reviewed the Trust's financial controls. The Chair of the Trustees further states that during the period, there was continu8tlon of the support of Christi8n ministries in London (focusing on soci818nd gospel outreach) and th8t the Trustees review reseprfes 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 atthe ye8r-end. THE TRUSTEES Trustees who sepied the charity duringthe period were Mrjonathan Thornton and Mr Julian Siater. Registered Office: London N10 3UD Slgned on behalf of tho Trusto08 of tho charlty by Jonathan Thornton FCA Julian Slater FCA Approved by the Trustees on 11" May 2026
THE ST JAMES'S CHURCH GRowfH TRUST INDEPENDENT EXAMINER'S REPORTTO THE TRUSTEES YEAR ENDED 30 APRIL 2025 I report on the Tiust's Unaudited Accounts foi the year ended 30 April 2025 Set out on pages &8. RESPONSIBILITIES AND BASIS OF REPORT As the charlty twstees of the Trust you are responslble for the prep8ratlon of the accounts in accordance with the requirements of the Charities Act 20111'the Act'l. I report in respect of my examin8tion of the Trust's accounts carrted out under sectlon 145 of the 2011 Act and in carryingout my examination I have followed allthe 8pplicable Directions wven by the Ch8rity Comrni88ion under Section 14515llbl of the Act. INDEPENDENT EXAMINER'S STATEMEPIT I have completed my examination. I conflm) that no materlal m8tt8rn hav8 com8 to ry attentlon In connectlon wbth the ex8minatlon whlch me cause to believe that In, any rna18rial r8specl: • accounting records were not kept in accordance wlth sectlon 130 ot the Act or the accounts do not accord with the accounting record8 I have no con¢ems 8nd have come across no other matters in Connection wlth the 8xamin8tion to whlch attention should be drawn in orderto enable a proper understandingof the accounts to b8 reached. SIGNED BY STEPHEN BOOTH 88 Independeni Exarnin8r
THE STJAMES'S CHURCH GROWTH TRUST sfATEMENT OF FINANCIAL AcTrvmES YEAR ENDED 30 APRIL 2025 Unre8trict8d Unrostricted Restricted Total Totsl General Funds Designated Funds 2024125 202314 INCOMING RESOURCES General Donatlon8 300 300 5.450 Charitable trading Rent & Interest received 3 36.143 36,143 24,300 TOTAL INCOMING 36,443 29.750 RESOURCES RESOURCES EXPENDED Cost of genoratlng funds Charitable expendlture 10.849 10.849 21.728 Management & admlnlstr8tion 91 TOTAL EXPENDED 10.909 10.909 21,819 NET IOUTGOING)IINCOMING 25.534 25.534 7.930 Mov•ment In Fund• ForTh• Y•or Funds brought forward: 465,483 457,553 Funds carried forward". LQ
THE STJAMES'SCHURCH GRowfHTRUST BALANCE SHEET ASAT30APRIL 2025 2025 2025 2024 Note FIXED ASSErs Freehold Property Interest-Free Loan8 Concessionary Loan 447,300 20.161 447.300 20,161 TOTAL FIXED ASSErs 527,461 527.461 CURRENT ASSETS Cash on Deposit 60,000 Cash at bank 106.076 80,541 CREDITORS: due within one year NET CURRENT ASSErs 108.076 80,541 CREDITORS: due after 1yr 7 NEfASSETS 491.018 465,483 FUNDS Unrestricted General 292.948 267.413 Unrestricted Designated Restricted Fixed Assets Revaluation Reserve Financial Statements were approved by the Trustees 11 May 2026 and are signed on their behalf by JGTThornton.
THE ST JAMES'S CHURCH GRowfH TRUST NOTES TO THE FINANCIAL STATEMENTS FINANCIALACTivmES YEAR ENDED 30APPRIL 2025 1. ACCOUNTING POLICIES B•$l• of ac¢ountlni The Financial Statements have been prepared under the hlstorlcal cost convention and in accord8nce wilh appkncabie accounting standards. Flx•d As8•ts Freehold propèrty is noi depr8ci8ted and 13 Stated 8t it8 end April 2025 valuation based on ob5eprf8tions derived from 8 major property portal. The Trustee do not believe there has been any material change since an end-Aprll 2021 valuation range of £1.05m-£1.1 Om was Ot)tsined trom Prickett & Ell18. Estate Agents of 114 Alexandra Park Road. London N10 2AH. 2. GENERALDONATIONS Total Total 2025 2024 Gift Aided 300 5.450 Other sources ..300 45Q 3. OTHER INCOME Property rental income Interest recetvable 36.000 24.000 4. FREEHOLD PROPERTY 42.6% share in freehold of 18 Wroxham Gardens. N11 Informal valuation using online portal 1.050.000 1.050.000 Less: Share owned by Senior Trustee (fiQ12QQJ {GQLZQQI
Jon8than Thomton FCA. as Senlor Trustee and owner of 57.4156 of 18 Wroxham Gardens, N11. has prlIde a warver in favour of the St James Church Growth Trust regardingany rightsto his share of any rental incom8. The St James'¥ Church Gr0h Trusl pays all repairs and maintenance of the Property. 5. INTEREST FREE LOANS Total 2025 Total 2024 Loan to Link Charitable Tru8t 20.161 20.161 6. CONCESSIONARY LOAN An unsecured, interest4)earing loan of £60.000 with a term of 25 years was provrded in November 2023 to f8cilit8te the acquisitlon of accommodation for the pastor of a church on the Isle of Wight. The loan Is repayable in 2048. or e8rtier ifthe pastor leaves Christian Service. The loan 18 being used to offset a mortgage balance and thus reduce the Intsrest cost. The int8rest charged is 0% in yBars 1-3, 2% inyears4-9 andthe Bankof EngL8nd 8888 Raie thereafter. Concessionary Loan 60.000 60,000 7. CREDITORS DUE AFfER I YEAR Interest free Loans from Trustee toward8 the purchase of the above Property: 14L51&