_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:
1. to maintain the public worship of God and to foster Christian fellowship;
2. to evangelise the local area by proclaiming the gospel of Jesus Christ, to exercise pastoral care and practical compassion for those in need;
3. to uphold and further the interests of the Free Church of Scotland; and
4. 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.
Page 2
## 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.
Page 3
## 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:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgments and estimates that are reasonable and prudent;
- 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
Page 4
## 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
Page 5
## 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
1. which gives me reasonable cause to believe that in any material respect the requirements:
- to keep accounting records in accordance with Section 44(1)(a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations
- to prepare accounts which accord with the accounting records and comply with Regulation 8 of the 2006 Accounts Regulations
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.
John Helps ACA Skingle Helps & Co 28 Southway Carshalton Beeches Surrey SM5 4HW
J Helps
29 May 2026
Page 6
## 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|
Page 7
## 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)
Page 8
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:
- **Unrestricted** funds comprise grants and other income received for the objects of the church without further specified purpose and are available as general funds.
- **Designated** funds represent unrestricted funds which have been earmarked by the trustees for particular purposes.
- **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.
Page 9
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**|
Page 10
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**|
Page 11
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.
Page 12
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.
Page 13