Company registration number 05953268 (England and Wales)
Charity registration number 1119980 (England and Wales)
LONDON GOOD NEWS CHURCH LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
LONDON GOOD NEWS CHURCH LIMITED
CONTENTS
Page
Trustees report
1 - 2
Independent examiner's report
3
Statement of financial activities
4
Balance sheet
5
Notes to the financial statements
6 - 12
LONDON GOOD NEWS CHURCH LIMITED
TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 OCTOBER 2025
- 1 -

The trustees, who are also directors for the purposes of company law, present their annual report and financial statements for the year ended 31 October 2025.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with churchthe Companies Act 2006 and "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).

Objectives and activities

The charity's objectives are the alleviation of poverty, hardship and distress by the provision of accommodation or assistance with such provision. Also, the provision of education, training and employment training for such persons with the purpose of developing skills to enable them to gain employment. The charity also supports the work of other Emmaus communities and agencies in the relief of poverty and homelessness, whether in the United Kingdom or Worldwide.

Public benefit

The trustees have paid due regard to guidance issued by the Charity Commission in respect of public benefit in deciding what activities the charity should undertake.

Achievements and performance
Significant activities and achievements against objectives

In October 2025 the church completed on the purchase of St Mary's Cathedral, Westminster Road, London, W7 3TU. This was a significant achievement enabled by faithful donations and fundraising by church members. The trustees are grateful to all the individuals and organisations who donated and enabled the church to achieve this milestone. It now has a stable base from which it can build on it's mission in the wider community.

Throughout the inevitable upheaval caused by the move to the new premises, the church was still able to continue with weekly services and bible study classes.

Free Korean classes are held every Saturday for everyone who is interested. In the classes we teach the language and sometimes have activity days where we spread the culture and also the Word of God. All activities are carried out free for the audience and the public.

We also continue to work with Esther Community Enterprise in order to get food donations and distribute them to the people in need.

Financial review

The charity generated sufficient income in the year to 31 October 202 5 to cover it's expenses. Consequently it made a s urplus of £991,527. As a result, the charity's financial position improved significantly during the year, with unrestricted funds increasing from a deficit of £13,626 at 1 November 2024 to a positive balance of £977,901 at 31 October 2025. Membership of the Church has increased since the year end and the trustees are satisfied that this will enable to Charity to meet it's financial obligations for the coming year. The trustees consider the Charity to be a going concern and that it will be able to continue to operate for the foreseeable future.

Structure, governance and management

Th e charity is a company limited by guarantee, company number 05953268 and charity number 1119980, and is governed by it's memorandum and articles of association. It is managed by the trustees through the management committee.

LONDON GOOD NEWS CHURCH LIMITED
TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
- 2 -

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

S Oh
K Changsun
R Ekor
Recruitment and appointment of trustees

Members and trustees are co-opted by the management committee as needed.

None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.

Accountants

Levicks

Chartered Accountants and Business Advisers

61 London Road

Maidstone

Kent

ME16 8TX

The trustees r eport was approved by the Board of Trustees.

S Oh
Trustee
12 July 2026
LONDON GOOD NEWS CHURCH LIMITED
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF LONDON GOOD NEWS CHURCH LIMITED
- 3 -

I report to the trustees on my examination of the financial statements of London Good News Church Limited (Thechurch) for the year ended 31 October 2025.

Responsibilities and basis of report

As the trustees of the church (and also its directors for the purposes of company law), you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006.

The income of the church exceeded £1,000,000, meaning that the accounts for the year ended 31 October 2025 were subject to audit. The Charity Commission has granted formal dispensation from an audit for this year on condition that an independent examination is carried out.

Having satisfied myself that the financial statements of the church are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, I report in respect of my examination of the church’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.

Independent examiner's statement

Since the church’s gross income exceeded £250,000, the independent examiner must be a member of a body listed in section 145 of the Charities Act 2011. I confirm that I am qualified to undertake the examination because I am a member of ICAEW, which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

1

accounting records were not kept in respect of t he company as required by section 386 of the 2006 Act; or

2

the financial statements do not accord with those records; or

3

the financial statements do not comply with the accounting requirements of section 396 of the Companies Act 2006 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination; or

4

the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

J A Griggs FCA
Levicks
Chartered Accountants & Business Advisers
61 London Road
Maidstone
Kent
ME16 8TX
Dated: 15 July 2026
LONDON GOOD NEWS CHURCH LIMITED
STATEMENT OF FINANCIAL ACTIVITIES
(INCLUDING INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 OCTOBER 2025
- 4 -
Unrestricted
Unrestricted
funds
funds
2025
2024
Notes
£
£
Income from:
Donations and legacies
3
1,031,786
24,376
Total income
1,031,786
24,376
Expenditure on:
Charitable activities
4
40,259
33,004
Total expenditure
40,259
33,004
Net income/(expenditure) and movement in funds
991,527
(8,628)
Reconciliation of funds:
Fund balances at 1 November 2024
(13,626)
(4,998)
Fund balances at 31 October 2025
977,901
(13,626)

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

LONDON GOOD NEWS CHURCH LIMITED
BALANCE SHEET
AS AT 31 OCTOBER 2025
31 October 2025
- 5 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
10
1,407,885
421
Current assets
Debtors
11
-
351
Cash at bank and in hand
87,183
2,033
87,183
2,384
Creditors: amounts falling due within one year
13
(23,369)
(16,431)
Net current assets/(liabilities)
63,814
(14,047)
Total assets less current liabilities
1,471,699
(13,626)
Creditors: amounts falling due after more than one year
14
(493,798)
-
Net assets excluding pension liability
977,901
(13,626)
Net assets/(liabilities)
977,901
(13,626)
The funds of the church
Unrestricted funds
977,901
(13,626)
977,901
(13,626)

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 October 2025.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the trustees on 12 July 2026
S Oh
Trustee
Company registration number 05953268 (England and Wales)
LONDON GOOD NEWS CHURCH LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
- 6 -
1
Accounting policies
Charity information

London Good News Church Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is 61 London Road, Maidstone, Kent, ME16 8TX.

1.1
Basis of preparation

The financial statements have been prepared in accordance with the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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). The church is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

1.4
Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has evidence of entitlement, receipt is probable and its amount can be measured reliably.

1.5
Expenditure

Expenditure is recognised on the accrual basis, once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably. Expenditure is recognised inclusive of VAT as the charity is not registered for VAT.

Charitable expenditure comprises those costs incurred by the charity in delivery of its activities and services for its beneficiaries. It includes costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

LONDON GOOD NEWS CHURCH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
1
Accounting policies
(Continued)
- 7 -

Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the accounts fees.

1.6
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings
No depreciation
Fixtures and fittings
3 years straight line
Motor vehicles
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7
Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future p aymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

2
Dispensation from an audit

During the year ended 31 October 2025 the church received funds in order to purchase the freehold property known as St Mary's Cathedral, Westminster Road, London, W7 3TU, with the intention that it became the permanent base for the church. Consequently, the income for that year exceeded £1,000,000, the threshold requiring an audit of the accounts. The church requested dispensation from an audit from the Charity Commission. This was granted, reference CRM26 : 017200902, on condition that no other audit requirement existed and that the trustees cause an independent examination to be carried out. The dispensation applies only to the year ended 31 October 2025

3
Income from donations and legacies
Unrestricted
Unrestricted
funds
funds
2025
2024
£
£
Donations and gifts
1,031,786
24,376
LONDON GOOD NEWS CHURCH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
3
Income from donations and legacies
(Continued)
- 8 -
4
Expenditure on charitable activities
Charitable Expenditure
Charitable Expenditure
2025
2024
£
£
Direct costs
Staff costs
16,800
22,200
Depreciation and impairment
105
141
Church hire
1,560
5,215
Office costs
-
150
Event costs
3,646
1,230
Motor vehicle expenses
2,080
2,130
Church repair costs
1,429
234
Bank charges
87
24
Water rates
657
-
Light and heat
227
-
Telephone
153
-
Sundry
475
-
Printing, postage and stationery
530
-
27,749
31,324
Share of support and governance costs (see note 5)
Governance
12,510
1,680
40,259
33,004
Analysis by fund
Unrestricted funds
40,259
33,004
5
Support costs allocated to activities
Charitable Expenditure
Charitable Expenditure
2025
2024
£
£
Governance
12,510
1,680
LONDON GOOD NEWS CHURCH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
5
Support costs allocated to activities
(Continued)
- 9 -
2025
2024
Governance costs comprise:
£
£
Accountancy
1,860
1,200
Legal and professional
10,650
480
12,510
1,680
6
Net movement in funds
2025
2024
£
£
The net movement in funds is stated after charging/(crediting):
Fees payable for the independent examination of the charity's financial statements
1,860
1,200
Depreciation of owned tangible fixed assets
105
141
7
Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

8
Employees

The average monthly number of employees during the year was:

2025
2024
Number
Number
Ministerial
2
2
Employment costs
2025
2024
£
£
Wages and salaries
16,800
22,200
There were no employees whose annual remuneration was more than £60,000.
9
Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

LONDON GOOD NEWS CHURCH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
- 10 -
10
Tangible fixed assets
Freehold land and buildings
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
Cost
At 1 November 2024
-
2,195
16,999
19,194
Additions
1,407,569
-
-
1,407,569
At 31 October 2025
1,407,569
2,195
16,999
1,426,763
Depreciation and impairment
At 1 November 2024
-
2,195
16,578
18,773
Depreciation charged in the year
-
-
105
105
At 31 October 2025
-
2,195
16,683
18,878
Carrying amount
At 31 October 2025
1,407,569
-
316
1,407,885
At 31 October 2024
-
-
421
421
11
Debtors
2025
2024
Amounts falling due within one year:
£
£
Other debtors
-
351
12
Loans and overdrafts
2025
2024
£
£
Mortgage
499,999
-
Payable within 1 year
6,201
-
Payable between 2 and 5 years
37,082
Payable after 5 years
456,716
-

The mortgage is secured against the freehold property known as St Mary's Cathedral, Westminster Road, London, W7 3TU, It is repayable over 30 years in monthly installments with a commencing interest rate of 5.95% which is variable.

LONDON GOOD NEWS CHURCH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
- 11 -
13
Creditors: amounts falling due within one year
2025
2024
Notes
£
£
Bank loans
12
6,201
-
Other creditors
17,168
16,431
23,369
16,431
14
Creditors: amounts falling due after more than one year
2025
2024
Notes
£
£
Mortgage
12
493,798
-
15
Unrestricted funds

The unrestricted funds of the charity compri se the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be use d. The se include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 November 2024
Incoming resources
Resources expended
At 31 October 2025
£
£
£
£
General funds
(13,626)
1,031,786
(40,259)
977,901
Previous year:
At 1 November 2023
Incoming resources
Resources expended
At 31 October 2024
£
£
£
£
General funds
(4,998)
24,376
(33,004)
(13,626)
16
Analysis of net assets between funds
Unrestricted
funds
2025
£
At 31 October 2025:
Tangible assets
1,407,885
Current assets/(liabilities)
63,814
Long term liabilities
(493,798)
977,901
LONDON GOOD NEWS CHURCH LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
16
Analysis of net assets between funds
(Continued)
- 12 -
Unrestricted
funds
2024
£
At 31 October 2024:
Tangible assets
421
Current assets/(liabilities)
(14,047)
(13,626)
17
Related party transactions

There were no disclosable related party transactions during the year (2024 - none).

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