REGISTERED COMPANY NUMBER: 07780681 (England and Wales)

REGISTERED CHARITY NUMBER: 1147429

Report of the Trustees and

Unaudited Financial Statements

for the Year Ended 31 December 2025

for

The St Nicholas Cole Abbey Centre for

Workplace Ministry Limited

Page

Reference and Administrative Details

1

Report of the Trustees

2

to

4

Independent Examiner's Report

5

Statement of Financial Activities

6

Balance Sheet

7

to

8

Cash Flow Statement

9

Notes to the Cash Flow Statement

10

Notes to the Financial Statements

11

to

19

TRUSTEES

G A Brisk

C D Fishlock (appointed 28.1.2026)

T J C Evans (resigned 13.4.2026)

A N M Wales

T C W Wright (appointed 28.1.2026)

T Owusu-Sekyere

P K M Fung

D A H Orr

D A C Meiklejohn

C Steel (appointed 9.4.2025)

C Stuart (appointed 28.1.2026)

R Taylor (appointed 10.12.2025)

COMPANY SECRETARY

S Williams

REGISTERED OFFICE

114 Queen Victoria Street

London

EC4V 4BJ

REGISTERED COMPANY NUMBER

07780681 (England and Wales)

REGISTERED CHARITY NUMBER

1147429

INDEPENDENT EXAMINER

Garside and Co. Limited

Suite 631, Linen Hall

162-168 Regent Street

London

W1B 5TG

BANKERS

Kingdom Bank

Media House

Padge Road

Beeston

Nottinghamshire

NG9 2RS

BANKERS

Reliance Bank Limited

Faith House

23-24 Lovat Lane

London

EC3R 8EB

The trustees of The St Nicholas Cole Abbey Centre for Workplace Ministry Limited (SNCA), who are also directors of the charity for the purposes of the Companies Act 2006, present their financial statements of the charity for the year ended 31 December 2025. The Trustees have adopted the provisions of the Statement of Recommended Practice (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).

OBJECTIVES AND ACTIVITIES

Objectives

The objects of SNCA are to advance the Christian faith for the benefit of the public, through:

• Ministry of an evangelistic and teaching nature to the local working community

• Supporting other similar ministries by providing facilities for staff

• Providing facilities that enable small group and one-to-one meetings, and other occasional events

• Ensuring that our primary facility is fit for purpose

Activities

During the financial review period, SNCA has conducted the following principal activities:

- Provision of oversight to the ministries of St Nick's Church (SNC), Fleet Street Talks (FST), London Bridge Talks (LBT), St Nick's Talks (SNT), Victoria Talks (VT) and Clapham Junction Church (CJC).

- Weekly lunchtime Bible talks on Tuesdays, Wednesdays, and Thursdays, facilitated by LBT, FST, SNT and VT respectively.

- Weekly Sunday morning services run by SNC.

- Weekly morning Bible studies for local Christian workers.

- Weekly small group Bible studies on Wednesday evenings.

- Termly Word Ministry Training courses specifically for people involved in SNC, through which individuals are trained and equipped to understand the Bible better for themselves and to teach it to others in a variety of contexts.

- Occasional evening evangelistic events aimed at people who are investigating the Christian faith.

- Christianity Explored courses run at various points in the year for people to investigate the Christian faith and the claims of Jesus.

- A significant number of people participating in one-to-one Bible studies and discipleship.

- Three weekends of Bible teaching, prayer, and fellowship for people involved in SNC and/or Wednesday evening small groups.

- Support through providing preachers, oversight and administration for Clapham Junction Church.

Public benefit

The trustees have considered the Charity Commissioners' Guidance on Public Benefit and, in particular, the specific guidance on Charities for the Advancement of Religion and are satisfied that the activities of SNCA fall within such guidance.

ACHIEVEMENTS AND PERFORMANCE

The trustees consider that the main achievement of SNCA in the financial period has been the public proclamation of the gospel through services conducted by the ministries of SNC, FST, LBT, SNT, VT and CJC as well as through Bible studies, one-to-one ministry, and other events.

FINANCIAL REVIEW

Financial position

In the financial year to 31 December 2025, SNCA's total income was £837,622 (2024 - £575,013). The income comprised donations and gifts of £758,300 (2024 - £509,056) and other activities of £79,268 (2024 - £62,570). SNCA's total expenditure in the period was £686,375 (2024 - £615,918), resulting in a net income for the year of £151,247 (2024 - net expenditure of £40,905). Total non-clergy staff costs were £209,773 (2024 - 184,297), being 31% of total expenditure (2024 - 30%).

Reserves

Following our Capital Giving Appeal at the start of 2025, as at 31 December 2025 SNCA had cash at bank and in hand of £261,615 (2024 - £100,127), representing 4.5 months running costs. We have already allocated £22,250 of the Capital Giving Appeal funds towards the start up costs of Clapham Junction Church.

FUTURE DEVELOPMENTS

We are thankful to God that the Clapham Junction Church started well in September 2025. Although aiming to be fully independent of SNCA in the foreseeable future, SNCA has provided support to help get it established. We are revisiting our plans to start an evening service as CJC gains independence. We continue to need additional space for the children's work on Sunday mornings. We would like to be able to rent a nearby office or café but have not been successful to date.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document and nature of entity

SNCA is governed by its memorandum and articles of association. SNCA is a company limited by guarantee as defined by the Companies Act 2006, incorporated 20 September 2011.

Trustees

SNCA's articles of association appoints the trustees to manage the affairs of SNCA and to exercise all the powers of SNCA. In considering the appointment of new trustees, the existing trustees must have regard to the skills, knowledge, and experience needed for the effective administration of SNCA. Every trustee must subscribe and adhere in belief and lifestyle to the doctrines set out in Article 3 of the articles of association. There are no formal procedures for the induction of trustees. Trustees are provided with appropriate training when required and have regard to training recommended by the Church of England.

Trustee Meetings

The trustees meet ordinarily 3-4 times a year and on an ad hoc basis when required. Trustee meetings are chaired by Greg Brisk, Trustee of SNCA. The trustees take appropriate decisions on the operation of SNCA. The trustees also adopt policies to comply with legislation in the areas of health and safety, child protection, and conflicts of interest.

Day to day financial matters are delegated by the trustees to SNCA's treasurer, Perry Fung, and its finance manager, Caroline Fishlock. The trustees have oversight of financial matters, including approval of major items of expenditure and the annual budget. Day to day ministry matters are delegated to the Reverend Chris Fishlock, who reports on those matters to the trustees regularly.

Risk management

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

Comprehensive safeguarding and financial policies are in place as well as a staff handbook outlining acceptable practices. Secondary approval, oversight and regular reporting to the management and trustees is in place for all important and significant decisions to provide this assurance

Approved by order of the board of trustees on 30 July 2026 and signed on its behalf by:

G A Brisk - Trustee

Independent examiner's report to the trustees of The St Nicholas Cole Abbey Centre for Workplace Ministry Limited ('the Company') on Revised Financial Statements

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2025.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Independent examiner's statement

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, 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:

1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or

2. the accounts do not accord with those records; or

3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

4. the accounts 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 accounts 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 accounts to be reached.

Gareth Owen Hughes

Garside and Co. Limited

Suite 631, Linen Hall

162-168 Regent Street

London

W1B 5TG

30 July 2026

31.12.25

31.12.24

Unrestricted

Restricted

Total

Total

fund

fund

funds

funds

Notes

£

£

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

2

758,300

-

758,300

509,056

Other trading activities

3

79,268

-

79,268

62,570

Investment income

4

36

-

36

64

Other income

18

-

18

3,323

Total

837,622

-

837,622

575,013

EXPENDITURE ON

Raising funds

5

33,722

-

33,722

29,848

Charitable activities

6

Charitable Activities

626,972

25,681

652,653

555,560

Restricted Activities

-

-

-

30,510

Total

660,694

25,681

686,375

615,918

NET INCOME/(EXPENDITURE)

176,928

(25,681

)

151,247

(40,905

)

RECONCILIATION OF FUNDS

Total funds brought forward

118,903

228,961

347,864

388,769

TOTAL FUNDS CARRIED FORWARD

295,831

203,280

499,111

347,864

31.12.25

31.12.24

Unrestricted

Restricted

Total

Total

fund

fund

funds

funds

Notes

£

£

£

£

FIXED ASSETS

Tangible assets

11

15,089

203,280

218,369

244,197

Investments

12

2

-

2

2

15,091

203,280

218,371

244,199

CURRENT ASSETS

Stocks

13

5,990

-

5,990

3,610

Debtors

14

30,262

-

30,262

23,877

Cash at bank and in hand

261,615

-

261,615

100,127

297,867

-

297,867

127,614

CREDITORS

Amounts falling due within one year

15

(17,127

)

-

(17,127

)

(23,949

)

NET CURRENT ASSETS

280,740

-

280,740

103,665

TOTAL ASSETS LESS CURRENT LIABILITIES

295,831

203,280

499,111

347,864

NET ASSETS

295,831

203,280

499,111

347,864

FUNDS

16

Unrestricted funds

295,831

118,903

Restricted funds

203,280

228,961

TOTAL FUNDS

499,111

347,864

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2025 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

(a)	ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.

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

The financial statements were approved by the Board of Trustees and authorised for issue on 30 July 2026 and were signed on its behalf by:

G A Brisk - Trustee

Cash flows from operating activities

Cash generated from operations

1

163,734

(5,879

)

Net cash provided by/(used in) operating activities

163,734

(5,879

)

Cash flows from investing activities

Purchase of tangible fixed assets

(2,282

)

(119

)

Interest received

36

64

Net cash used in investing activities

(2,246

)

(55

)

Change in cash and cash equivalents in the reporting period

161,488

(5,934

)

Cash and cash equivalents at the beginning of the reporting period

100,127

106,061

Cash and cash equivalents at the end of the reporting period

261,615

100,127

1.	RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES

31.12.25

31.12.24

£

£

Net income/(expenditure) for the reporting period (as per the Statement of Financial Activities)

151,247

(40,905

)

Adjustments for:

Depreciation charges

28,111

27,421

Interest received

(36

)

(64

)

(Increase)/decrease in stocks

(2,380

)

325

(Increase)/decrease in debtors

(6,385

)

12,205

Decrease in creditors

(6,823

)

(4,861

)

Net cash provided by/(used in) operations

163,734

(5,879

)

2.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.1.25

Cash flow

At 31.12.25

£

£

£

Net cash

Cash at bank and in hand

100,127

161,488

261,615

100,127

161,488

261,615

Total

100,127

161,488

261,615

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

a) Basis of preparation and assessment of going concern

The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) effective from 1 January 2019 and the Charities Act 2011.

The St Nicholas Cole Abbey Centre for Workplace Ministry Limited (SNCA) constitutes a public benefit entity as defined by FRS 102.

The trustees consider that there are no material uncertainties about the SNCA's ability to continue as a going concern.

The financial statements include all transactions, assets and liabilities for which the SNCA is responsible in law.

b) Funds structure

Unrestricted funds represent the funds of the SNCA that are not subject to any restrictions regarding their use and are available for application on the general purposes of the SNCA.

Unrestricted funds may become designated funds where funds have been reserved for a particular purpose by the SNCA.

Restricted funds represent donations, legacies or grants received for a specific object, or invited by the SNCA for a specific object. The funds may only be expended on the specific object for which they were given. Any balance remaining unspent at the end of each year must be carried forward as a balance on that fund.

The SNCA does not usually invest separately for each fund except where amounts involved are material. Where there is no separate investment, interest is apportioned to individual funds on an average balance basis.

c) Income recognition

All incoming resources are recognised when received by or on behalf of the SNCA.

All income is reported gross of any associated expenditure.

Grants and Legacies to the SNCA are accounted for as soon as the SNCA is notified of its legal entitlement, the amount due is quantifiable and its ultimate receipt by the SNCA is probable.

Interest earned on bank deposit accounts is accounted for when received.

d) Expenditure recognition

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably.

All expenditure is accounted for on an accruals basis.

e) Current assets

Amounts owed to the SNCA at the year end in respect of fees, gift aid recoverable or other income are shown as debtors, less provision for amounts that may prove uncollectible.

f) Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

g) Taxation

The charity is exempt from corporation tax on its charitable activities.

h) Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to leasehold property - in accordance with the terms of the lease

Fixtures and fittings - 20% on cost

Computer equipment - 33.3% on cost

i) Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

j) Investments

Investments are valued at market value at 31 December. Realised and unrealised gains or losses on investments are dealt with in the Statement of Financial Activities.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

2.	DONATIONS AND LEGACIES

31.12.25

31.12.24

£

£

Donations & gifts

746,409

500,751

Donations toward catering cost

11,891

8,305

Total

758,300

509,056

£150,098 of 'Donations & Gifts' and £1,276 of 'Donations towards catering cost' is income associated with Clapham Junction Church activities.

3.	OTHER TRADING ACTIVITIES

31.12.25

31.12.24

£

£

Book sales

2,277

1,744

Other income-weekend away

32,605

25,975

Other income-utilities contribution

9,500

5,659

Other income-telecom mast

20,211

20,211

SNCA Events income

14,675

8,981

79,268

62,570

4.	INVESTMENT INCOME

31.12.25

31.12.24

£

£

Interest

36

64

5.	RAISING FUNDS

Other trading activities

31.12.25

31.12.24

£

£

Books purchased for resale

2,754

2,537

Catering expenses

30,968

27,311

33,722

29,848

6.	CHARITABLE ACTIVITIES COSTS

Support

Direct

costs (see

Costs

note 7)

Totals

£

£

£

Charitable Activities

641,267

11,386

652,653

7.	SUPPORT COSTS

Governance costs

£

Independent examiner's fees - current year

5,250

Legal fees

5,314

10,564

Bank charges

822

11,386

8.	NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

31.12.25

31.12.24

£

£

Depreciation - owned assets

28,110

27,421

9.	TRUSTEES' REMUNERATION AND BENEFITS

No remuneration or benefits were paid to trustees in their trustee capacity. During the year, members of staff (clergy) became ex-officio trustees and their remuneration is described below.

Key Management Personnel

Remuneration paid to Key Management Personnel for the year amounted to £92,862 (2024 £82,640 ).

In addition, Key Management Personnel (who are also clergy) were paid accommodation costs (rent, council tax, moving expenses and water rates) amounting to £132,934 (2024: £98,840) as well as clergy mobile fees of £468 (2024: £403).

Trustees' expenses

There were no trustee expenses for the financial year under review (2024: £0).

10.	STAFF COSTS

Key Management Personnel

Remuneration paid to Key Management Personnel for the year amounted to £92,862 (2024 £82,640 ).

In addition, Key Management Personnel (who are also clergy) were paid accommodation costs (rent, council tax, moving expenses and water rates) amounting to £132,934 (2024: £98,840) as well as clergy mobile fees of £468 (2024: £403).

The average monthly number of employees during the year was as follows:

31.12.25

31.12.24

Administrative staff

5

5

Ministry staff

5

3

10

8

No employees received emoluments (excluding tied accommodation) in excess of £60,000.

11.	TANGIBLE FIXED ASSETS

Improvements

to

Fixtures

leasehold

and

Computer

property

fittings

equipment

Totals

£

£

£

£

COST

At 1 January 2025

521,452

69,848

6,282

597,582

Additions

-

-

2,282

2,282

At 31 December 2025

521,452

69,848

8,564

599,864

DEPRECIATION

At 1 January 2025

282,758

64,345

6,282

353,385

Charge for year

25,681

1,768

661

28,110

At 31 December 2025

308,439

66,113

6,943

381,495

NET BOOK VALUE

At 31 December 2025

213,013

3,735

1,621

218,369

At 31 December 2024

238,694

5,503

-

244,197

12.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

MARKET VALUE

At 1 January 2025 and 31 December 2025

2

NET BOOK VALUE

At 31 December 2025

2

At 31 December 2024

2

There were no investment assets outside the UK.

The company's investments at the balance sheet date in the share capital of companies include the following:

Distaff Lane Coffee Limited

Registered office: United Kingdom

Nature of business: Coffee Shop

%

holding

Class of share:

Ordinary £1

100

The company and its subsidiary qualify as a small group and therefore do not need to prepare consolidated financial statements.

13.

STOCKS

31.12.25

31.12.24

£

£

Book inventory

5,990

3,610

14.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

£

Trade debtors

2,570

1,155

Other debtors

4,038

-

Accrued income (includes

unclaimed Gift Aid)

19,560

9,980

Prepayments

4,094

12,742

30,262

23,877

15.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

£

Trade creditors

8,757

4,679

Accruals and deferred income

8,370

19,270

17,127

23,949

16.	MOVEMENT IN FUNDS

Net

movement

At

At 1.1.25

in funds

31.12.25

£

£

£

Unrestricted funds

General fund

118,903

176,928

295,831

Restricted funds

Restricted fund

228,961

(25,681

)

203,280

TOTAL FUNDS

347,864

151,247

499,111

Net movement in funds, included in the above are as follows:

Incoming

Resources

Movement

resources

expended

in funds

£

£

£

Unrestricted funds

General fund

837,622

(660,694

)

176,928

Restricted funds

Restricted fund

-

(25,681

)

(25,681

)

TOTAL FUNDS

837,622

(686,375

)

151,247