Scottish Charity No SC046419
London City Presbyterian Church
Trustees’ Report and Financial Statements
Year Ended 31 December 2025
London Cit Presb terian Church y y
Contents of the Financial Statements for the year ended 31 December 2025
| Page | |
|---|---|
| Report of the Trustees | 2 - 5 |
| Report of the Independent Examiner | 6 |
| Statement of Financial Activities | 7 |
| Balance Sheet | 8 |
| Notes to the Financial Statements | 9 - 13 |
Page 1
London Cit Presb terian Church y y
Report of the Trustees
The Trustees are pleased to present their report together with the financial statements of the church for the year ended 31 December 2025. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity’s constitution, the Charities and Trustee Investment (Scotland) Act 2005, the Charities Accounts (Scotland) Regulations 2006 (as amended) and the Charities’ Statement of Recommended Practice (Charities’ SORP (FRS 102)).
Objectives and Activities
London City Presbyterian Church is a congregation of the Free Church of Scotland. It is a Presbyterian church adhering in its worship and doctrine to the position of the Church of Scotland at the Reformation. The Free Church of Scotland has an explanatory document which explains the origins of the Church and which gives the historical background to the Church coming into being in 1843 and lists documents in which is embodied the constitution of the Church. The document is available on request from the Free Church of Scotland, 15 North Bank St., The Mound, Edinburgh, EH1 2LS.
The Free Church of Scotland currently has over 100 congregations in Scotland, and sister Churches founded by mission work in India, Peru and South Africa. The Church also has a seminary in Edinburgh for the training of ministers and other Christian workers and sustains an extensive missionary programme relative to the size of the church. The Church has close and active relations with many other Reformed churches of Jesus Christ throughout the world and stands firmly in the tradition which accepts the Bible in its entirety as the Word of God and, therefore, derives its forms of teaching, worship, ministry and government from it.
The principal activity of the Church is the conduct of public worship and associated matters in the context of local congregations. The main emphasis of our worship is the preaching of the gospel - the good news of a free and sovereign salvation through Jesus Christ alone.
London City Presbyterian Church has the following aims:
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to maintain the public worship of God and to foster Christian fellowship;
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to evangelise the local area by proclaiming the gospel of Jesus Christ, to exercise pastoral care and practical compassion for those in need;
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to uphold and further the interests of the Free Church of Scotland; and
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to participate in the worldwide promotion of Christian fellowship and the advancement of the Christian faith.
The congregation is authorised by the Church to have a minister paid from central funds of the Church.
The congregation owns two manses, for the Minister and his family, and for the Assistant Minister and his family. The congregation rents a building from the Church of England for the conduct of its services in central London.
The congregation makes grants from its gift income to individuals and organisations whose aims are compatible with the congregation’s objectives.
Achievements and Performance
Throughout 2025, London City Presbyterian Church (LCPC) continued to maintain public worship each Sunday in the heart of the City of London, and to provide Christian fellowship and gospel witness within the wider city. The congregation has also continued to partner with the Free Church of Scotland in its wider ministry as a denomination, together with supporting mission work abroad through partners in Europe, Africa and Central Asia.
The congregation has also maintained links with presbyterian churches in North America, with the aim of mutual support and encouragement.
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London Cit Presb terian Church y y
Concerning the congregation’s activities :
During the year, the congregation continued its regular Sunday ministry in central London. We have been encouraged not only to welcome new members into the congregation, but also to receive a steady stream of visitors each week. Some come from similar churches, but others have little or no faith who are enquiring about the gospel or seeking a more substantial understanding of Scripture.
Sunday services have been supplemented by mid-week meetings, both for prayer as a congregation and through Bible study groups which meet in the homes of members. Sunday School classes have continued to provide age specific ministry for children and teenagers in the congregation, while a 20/30s group and ladies’ and men’s fellowships have met during the year. Other occasional informal meetings are held to provide opportunities for fellowship and build the church community.
Concerning the congregation’s funding :
The congregation has received steady financial support from those connected with it, and the Deacons acknowledge with thanks God’s provision for His work in the congregation. The general fund had a deficit of £3,566 for the year.
The Ministry Assistance Fund, which covers the additional costs of ministry in London had a surplus of £13,557 for the year, after meeting finance costs of just over £40,000 in respect of ministerial housing, and nearly £20,000 for church facilities.
Future Plans
The congregation is in the process of appointing additional Elders and Deacons with a view to strengthening the human resources available to expand the ministry at LCPC in the year ahead.
Financial review
Principal sources of funding
The congregation principally receives its funding by way of regular support from its members.
Results for the year
The financial statements for the year are set out in pages 7 to 13. The Statement of Financial Activities on page 7 reflects a net surplus of £20,146.
Reserves
The trustees seek to maintain free reserves at a level which equates to approximately six months unrestricted expenditure. This allows sufficient funds to enable the ongoing work of the church to be maintained. The General Fund (page 8) at 31 December 2025 amounted to £15,177, and was below the required level.
Total reserves, including the net book value of fixed assets, amounted to £1,542,468.
Statement on Risk
The trustees assess the major risks to which the congregation is exposed on an ongoing basis and have established procedures to mitigate those that are identified as a result of these reviews. The principal financial risk facing the congregation is that the congregation commits to support causes or enters into financial commitments beyond its financial resources. The Deacons’ Court reviews management accounts, budgets and financial projections before entering into any significant ongoing financial commitments in order to counteract this risk.
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London Cit Presb terian Church y y
Structure, Governance and Management
London City Presbyterian Church is established by its constitution and is registered as a charity with the Office of the Scottish Charity Regulator (OSCR).
The government of the Free Church of Scotland is Presbyterian and the congregation is within the Presbytery of Edinburgh & Perth. Its day to day running is undertaken by the Elders (the Kirk Session) and the Deacons (the Deacons’ Court). It is accepted practice for the Minister and Elders to also be in membership of the Deacons’ Court whose specific function relates to the material and financial business of the congregation and fulfil the role of trustees under charity law, whereas Elders are charged with the spiritual oversight of the congregation.
Appointment of Charity Trustees
The Kirk Session exercises its discretion in determining the most appropriate method of electing new trustees (both Elders and Deacons), who serve for no fixed term. Any election process must involve the communicant membership of the congregation. Prior to their appointment, new trustees would have served the congregation for some time in various roles and would be familiar with its values, aims and objectives as well as its day-to-day operations. As part of their induction programme, new trustees are required to understand their statutory responsibilities as well as their responsibility as Elder or Deacon.
Statement of Trustees’ responsibilities
The trustees are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and regulations.
The trustees are required to prepare financial statements for each financial year in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). The financial statements are required by law to give a true and fair view of the state of affairs of the charity, and of its incoming resources and the application of resources of the charity for that period. In preparing these financial statements, the trustees should follow best practice and:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgments and estimates that are reasonable and prudent;
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prepare the financial statements on the going concern basis unless it is inappropriate to assume that the charity will continue its operations.
The trustees are responsible for keeping proper accounting records that 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 applicable law and the Laws and Regulations of the Church. 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.
Trustees
The members of the Deacons’ Court (who are the Key Management Personnel of the charity for the purpose of note 10 to the accounts), who served during the year were as follows:-
Ministers Rev A Longwe, Rev K Arévalo Elders P Fraser, R Haffenden Deacons C Campbell, P Huey, R Keay, J Shannon
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London Cit Presb terian Church y y
Reference and Administrative Details
Registered Name: London City Presbyterian Church Other names by which it is known: LCPC, Free Church of Scotland London Charity Registration Number: SC046419
Address
St Botolph’s-without-Aldersgate Aldersgate Street London EC1A 4EU
Website
www .lcpc.org.uk
Congregational Trustees
For holding property - J Campbell, R Haffenden, P Huey, I MacDonald
Bankers
Bank of Scotland (London Chief Office) P O Box 1000 BX2 1LB
Independent Examiner
John Helps ACA Skingle Helps & Co 28 Southway Carshalton Beeches Surrey SM5 4HW
Signed on behalf of the Trustees
Mr R Keay
Trustee/Clerk 9[th] April 2026
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London Cit Presb terian Church y y
Report of the Independent Examiner to the Trustees for the year ended 31 December 2025
Independent Examiner’s Report to the Trustees of London City Presbyterian Church
I report on the accounts of the charity for the year ended 31 December 2025 which are set out on pages 7 to 13.
Respective Responsibilities of Trustees and Examiner
The charity’s Trustees are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). The charity Trustees consider that the audit requirements of Regulation 10(1) (a) to (c) of the 2006 Accounts Regulations do not apply. It is my responsibility to examine the accounts as required under section 44(1) (c) of the Act and the state whether particular matters have come to my attention.
Basis of Independent Examiner’s statement
My examination is carried out in accordance with Regulation 11 of the 2006 Accounts Regulations. An examination includes a review of the accounting records kept by the charity and comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeks explanations from the 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 the course of my examination, no matter has come to my attention
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which gives me reasonable cause to believe that in any material respect the requirements:
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to keep accounting records in accordance with Section 44(1)(a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations
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to prepare accounts which accord with the accounting records and comply with Regulation 8 of the 2006 Accounts Regulations
have not been met, or
- to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
John Helps ACA Skingle Helps & Co 28 Southway Carshalton Beeches Surrey SM5 4HW
J Helps
29 May 2026
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London Cit Presb terian Church y y
Statement of Financial Activities for the year ending 31 December 2025
| Notes Income Collections and regular giving Payroll giving Grants from other Churches/Trusts Taxes recovered Interest Total Receipts Expenditure Payments for Charitable Activities Free Church of Scotland Central Funds 2 Grants made 3 Church overheads 4 Church activities 5 Ministerial salary costs Other Salary/Allowance Ministerial expenses reimbursed 6 Pulpit supply Manse overheads 7 Mortgage interest Governance Costs Independent Examination Presbytery dues Bank Charges Other governance costs Total Payments Surplus/(deficit) for the year Transfers Net Movement after transfers Total Funds brought forward Total Funds carried forward |
General Fund £ 65,887 1,952 - 13,131 - |
Restricted Funds Ministry Assistance Property Other Total Total Fund Fund Funds 2025 2024 £ £ £ £ £ 111,627 - 41,282 218,796 170,778 7,282 - 6,262 15,496 10,256 13,560 - - 13,560 41,896 24,463 - 5,982 43,576 30,207 - - - - 1,365 |
|---|---|---|
| 80,970 | 156,932 - 53,526 291,428 254,502 |
|
| 55,460 - 1,331 5,055 4,895 - 7,147 960 7,652 - 660 424 51 901 |
- - - 55,460 46,613 5,000 - 57,982 62,982 40,983 19,813 - - 21,144 20,407 848 - - 5,903 3,771 37,312 - - 42,207 29,458 24,400 - - 24,400 - 5,476 - - 12,623 29,846 1,088 - - 2,048 379 8,994 - - 16,646 15,019 25,833 - - 25,833 27,866 - - - 660 660 - - - 424 426 - - - 51 - - - - 901 532 |
|
| 84,536 | 128,764 - 57,982 271,282 215,960 |
|
| (3,566) - |
28,168 (4,456) 20,146 38,452 (14,611) 13,225 1,386 - - |
|
| (3,566) 18,743 |
13,557 13,225 (3,070) 20,146 38,542 68,199 1,362,934 72,446 1,522,3221,483,780 |
|
| 15,177 | 81,756 1,376,159 69,376 1,542,468 1,522,322 |
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London Cit Presb terian Church y y
Balance Sheet as of 31 December 2025
| Notes Fixed Assets Manse 31 Elephant Lane, Rotherhithe Manse at 76 Ann Moss Way, Rotherhithe Total Fixed Assets Current Assets Sundry debtors and prepayments Cash at bank and in hand Total Current Assets Liabilities Creditors falling due within one year Net Current Assets Mortgage Total Net Assets Charity Funds Unrestricted Funds General Fund Restricted Funds 8 Mission Funds Elsie Macaulay Fund Benevolent Fund Ministry Assistance Fund Property Fund 9 Total Restricted Funds Total Charity Funds |
1,023,885 857,485 |
2025 £ 1,881,370 131,652 470,554 |
1,023,885 857,485 |
2024 £ 1,881,370 124,731 483,779 |
|---|---|---|---|---|
| 6,498 127,704 134,202 2,550 15,872 37,384 16,120 |
15,955 110,000 125,955 1,224 |
|||
| 1,542,468 | 1,522,322 | |||
| 15,177 1,527,291 |
15,775 36,118 20,553 |
18,743 1,503,579 |
||
| 69,376 81,756 1,376,159 |
72,446 68,199 1,362,934 |
|||
| 1,542,468 | 1,522,322 |
The Accounts were approved by the Deacons’ Court 9[th] April 2026
Signed
Rev A Longwe (Chairman)
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London Cit Presb terian Church y y
Notes to the Financial Statements for the year to 31 December 2025
1. Accounting Policies
Basis of preparation
The financial statements have been prepared under the historical cost convention, and in accordance with the Charities’ Statement of Recommended Practice (Charities’ SORP (FRS 102)). The church meets the definition of a public benefit entity under FRS 102.
The trustees consider that there are no material uncertainties about the congregation’s ability to continue as a going concern.
Income
All voluntary income and bank interest is accounted for when received but includes recoverable taxes.
Expenditure
Expenditure is accrued as soon as a liability is considered probable.
Tangible fixed assets
Freehold land is not depreciated.
The manses owned by the congregation are considered to maintain their residual value such that any depreciation of the buildings is considered immaterial. As such no depreciation is charged, but the manses are subject to annual review to ensure that they have not suffered any impairment in value.
Classification of Funds
For the purpose of the financial statements, funds are defined as follows:
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Unrestricted funds comprise grants and other income received for the objects of the church without further specified purpose and are available as general funds.
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Designated funds represent unrestricted funds which have been earmarked by the trustees for particular purposes.
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Restricted funds comprise income which has been received for the objects of the church and specified for a restricted purpose within these objects by the donor.
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London Cit Presb terian Church y y
Notes to the Financial Statements for the year to 31 December 2025
| 2 FREE CHURCH OF SCOTLAND CENTRAL FUNDS Ministry Levy Administration Levy Central Projects Levy Total unrestricted income per page 7 Percentage sent to Free Church centrally 3 GRANTS MADE FROM MISSIONS FUND - AIM/ Shepherds - Manuel Franco, Spain - ‘Adam’ - International Mission to Jewish People - Cumbernauld Free Church - Josiah Venture, Ukraine - St Nick’s Church Plant, London - Carl Vermuelen, Church Plant - Open Doors - Christ Presbyterian Church, Malawi FROM MINISTRY ASSISTANCE FUND - St Botolph’s Without Aldersgate (Refurbishment) FROM ELSIE MacAULAY FUND - For individuals FROM BENEVOLENT FUND - For individuals - Ukraine (via James Graham) - Mission Friends in Uganda 4 CHURCH OVERHEADS St Botolph’s rent and cleaning Rent of LCM and East Street Baptist buildings Public Liability Insurance 5 CHURCH ACTIVITIES Office Books and Magazines - net (surplus)/deficit Advertising & website Sunday school Young Adults Study materials Outreach (including on-line services) Day Conferences Welcome gifts (net) Equipment Other |
2025 2024 £ £ 35,880 33,240 18,000 7,608 1,580 5,765 |
|---|---|
| 55,460 46,613 |
|
| 80,970 75,662 68% 62% £ £ 10,000 8,000 4,500 5,000 4,500 5,000 2,000 800 - 2,000 3,500 - 1,512 - 100 - 500 - 500 - |
|
| 27,112 20,800 |
|
| 5,000 10,000 |
|
| 120 951 |
|
| 29,500 7,132 - 2,100 1,250 - 30,750 9,232 |
|
| £ £ 19,813 19,308 700 500 631 599 |
|
| 21,144 20,407 |
|
| 1,694 2,147 (104) (186) 1,066 881 150 (120) (66) (1,786) 263 365 636 857 670 (42) - 1,683 1,533 - 61 (28) 5,903 3,771 |
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London Cit Presb terian Church y y
Notes to the Financial Statements for the year to 31 December 2025
| 6 MINISTERIAL EXPENSES Minister – charged to General Fund Fares and travel Subsistence Hospitality Books, stationery, IT Other Assistant Minister – charged to Ministry Assistance Fund Fares and travel Subsistence Hospitality Stationery/Books Other (Visas, medical and removal costs) Ministers’ Wives for Conference 7. MANSE OVERHEADS Elephant Lane Council tax Utilities Insurance Other Total charged to General Fund Ann Moss Way Council Tax Utilities Insurance Other Ann Moss Way Repairs Elephant Lane Repairs Total charged to Ministry Assistance Fund |
2025 2024 £ £ 1,811 1,718 148 188 3,419 2,260 1,321 358 448 218 |
|---|---|
| 7,147 4,742 |
|
| 923 145 542 28 3,798 891 143 - - 24,040 |
|
| 5,406 25,104 |
|
| 70 - 12,623 29,846 |
|
| £ £ |
|
| 2,785 2,576 3,668 4,017 1,070 847 129 186 |
|
| 7,652 7,626 |
|
| 7,652 7,626 |
|
| 2,503 1,537 2,917 1,244 832 1,220 - 138 |
|
| 6,252 4,139 |
|
| 2,450 - 292 3,254 |
|
| 8,994 7,393 |
|
| 16,646 15,019 |
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London Cit Presb terian Church y y
Notes to the Financial Statements for the year to 31 December 2025
8 OTHER RESTRICTED FUNDS
| Balance b/fwd Income Collections and grants Tax refund Transfer from Ministry Assistance Fund Expenditure Payments Balance c/fwd |
Mission Fund Elsie MacAulay Fund Benevolent Fund Total £ £ £ £ 15,775 36,118 20,553 72,446 23,126 - 24,418 47,544 4,084 - 1,898 5,982 - 1,386 - 1,386 (27,112) (120) (30,750) (57,982) 15,873 37,384 16,119 69,376 |
|---|---|
Mission Fund
The Mission Fund comprises collections made, and donations received, specifically for mission work.
Elsie MacAulay Fund
The Elsie MacAulay Fund was established by a bequest from a former member of the congregation. It provides grants or loans to young people in the congregation who are attending camps or training courses, are short-term missionaries, or require temporary help with accommodation. The capital has been used to help fund the Rotherhithe manse, with interest paid internally to the Elsie MacAulay Fund for the use of the funds. One grant was made during 2025.
Benevolent Fund
The Benevolent Fund is held for the relief of hardship among members and friends of the congregation, and others drawn to the attention of the Deacons’ Court.
Ministry Assistance Fund
The Ministry Assistance Fund comprises funds received for the purpose of covering the additional costs of conducting ministry in London, including but not limited to wages & related payments of a ministry assistant, the provision of ministerial housing, and other expenses specific to ministry at London City Presbyterian Church.
Property Fund
The Property Fund represents funds held for the provision of housing for both a minister and a ministerial assistant.
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London Cit Presb terian Church y y
Notes to the Financial Statements for the year to 31 December 2025
| 9 FIXED ASSETS & PROPERTY FUND The equity in the properties comprise: Manse at Elephant Lane Manse at Ann Moss Way Cash held in bank Cash held by the Free Church of Scotland Less: Mortgage Equity This is represented by the following restricted funds: Elsie MacAulay Fund loan Property Fund Equity |
2025 2024 £ £ 1,023,885 1,023,885 857,485 857,485 - - - - |
|---|---|
| 1,881,370 1,881,370 (470,555) (483,779) |
|
| 1,410,815 1,397,591 |
|
| 34,656 34,656 1,376,159 1,362,935 1,410,815 1,397,591 |
The manses at Elephant Lane and Ann Moss Way, both in Rotherhithe are freehold properties, held by named trustees as nominees on behalf of the congregation. The manses are recorded at cost.
10 TRANSACTIONS WITH KEY MANAGEMENT PERSONNEL
No members of the Deacons’ Court received any remuneration in the year, nor were any expenses reimbursed to any member of the Deacons’ Court with the exception of Rev A Longwe and Rev K Arévalo.
As a church, we encourage everyone to use their God-given gifts in service both within the church and elsewhere. In all of our activities, we rely on volunteers giving freely of their time and talents, without which we would not be able to serve as we do.
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