COMPANY NO.: 75432
REGISTERED CHARITY NO.: 1022551
URC THAMES NORTH TRUST
(A c(*npany limtied by guarantee and having no share capital)
ANNUAL REPORT AND FINANCIAL STATEMENTS
Year ended 31 December 2023
CONTENTS
Page
Report of the Directors and Trustees
Independent Examinerfs Report
Statement of Financial Activities
Balance Sheet
Notes to the Financial Statements
10
Assets Held as Trustee
12
Annual Reportand Accwnts 2023
Page 1 c*f 12

URC Thames North Trust
REPORT OF THE DIRECTORS AND TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023
The Directors have pleasure in presenting their report and the financial slatements of URC Thames North Twst Ilhe
Trust") for the year ended 31 December 2023.
The report incorporates infomiation complying with the Charities SORP. and complies generally with statutory
requirements and the Trusys Articles of Association.
Structure. governance and management
The Trust is a company limited by guarantee and has no share capital. It is registered in England under number
75432. It is registered as a charity under Charity c￿nmISSIon number 1022551. 11 is approved by the Lord
Chancellor as a trust corporation.
The Trust was originally incorporated in 1902 under the name of London Congregational Union Incorporated. Its
present name was adopted in 1984. The Articles of Association were completely rewritten in June 2013, to m(xJernize
the Trust's ¢onstitub"on and procedures and take ac(x)unt of changes in company and charity law.
The management of the Trust is the responsibilty of the Board of Directors. The Directors are appointed by Trtames
North Synod of the United Refornied Church. pursuant to the Articles of Association. The Directors are the charity
trustees for the purposes of the Charities Act 2011.
The Articles of Association provide for the appointment of a Secretary. Treasurer and Trust Offi￿r. These officers
undertake the day to day work of the Trust induding the keeping of the financial records and preparation of the
annual accounts.
They reFM)rt to the regular meetings of Directors and consult Directors between meetings as
necessary.
Directors are kept informed of developments in charity and general law relevant to the operation of the Trust. As
(Kcasion arises consideration is given to the induction of and training for new directors.
Reference and administralive infomiation
Directors
Mr l M Ander50n
Mr I Critchley
Mr S Faimington {resigned 6 January 2023)
Mr M J Gould Ichairmanl
Mr B M Hosier
Mr B W Moere
Mrs J Wyber
Mrs K Yales
o￿l¢0rS
Secrelary..
Legal and Trust Offi￿r.
MrKRBerry
Mrs M Levan-Harris
Bankers
Nalional Westminsler Bank Plc, Fleet Street Branch
PO Box 281. 156 Fleet Street. London, EC4A 2DX.
Solicitors
Anlhony Collins Solicitors LLP.
134 Edmund Street. Birmingham. B3 2ES.
Cripps Pemberton Greenish LLP,
22 Mount Ephraim Road, Tunbridge Wells,
Kent. TN4 8AS
Independent Examiners
Siobhan Holmes {ACA DChA)
Haysmacintyre LLP
10 Queen Street Place. London, EC4R 1 AG.
Annual Reportand Acccunts 2023
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URC Thames North Trust
Objectives and activities
The Trust's main objective is to assist the churches of the Thames North Synod of the United Refomied Church, and
the Synod itself. by holding properties and investsments on behalf of those bodies and by ensuring that all transactions
affecting those properties and investments are carried out in ways that satisfy all the legal requirements.
In pursuance of this objective, the Trust acts-
lal
as trustee owner of properties Imosdy Church buildings and manses held on the s18ndard trusts for United
Reformed Church properties) on behalf of 95 local churches within the area of Thames North Synod of the
United Refomied Church",
as custodian trustee owner of properties held for Thames North Synod Imosly closed churches, housing for
ministers and housing for retired ministers)-
as trustee and custodian trustee of investments and deposits held on behalf of. or for the benefit of. Thames
North Synod or individual United Refomied churches 169 churches) within the area of the Thames North
Synod or persons assoualed wth the SyTh)d or those churches.
Ibl
Icl
The Trust also acts as trustee of a sm811 grant-making charity not associated exclusively with Thames North Synod or
individual churches.
Public Benefit
The Directors, Meeling is aware of the Charity Commission guidance on public benefit in the 'Advancement of
Religion for the Public Benefit" and has regard lo it in pursuing Ihe objectives of and in the activities of the Trust.
Achievements and perfomian¢e
During the year the Trust dealt with..
lal
the sale and lease of properties vested in the Trust on behalf of local churches and Thames North Synod.,
Ibl
the acquisition of properties on behalf of Thames North SyncKI and local churches.,
Icl
a wide variety of other propety related issues. induding land disputes and development schemes-
Idl
investment transactions on instructions from churches and Thames North Synod..
lel
banking transactions in respect of funds held on behaff of local churches, Thames North
Synod and the granl-making charity-
Plans for future periods
The process of digitalizing all deeds and docuwnentation has been completed, however there is work lo do on the
scanned documents lo making them easily accessible electronically including labelling individual documents and
sorting them within the various folders. Work will continue in wpulating the property database with the relevant
information.
Annual Reportand Acccunts 2023
Page 3of 12

URC Thames North Trust
Financial Review
The ￿sUlts for the year are set out on page 7 in the form of a Statement of Financial A¢tiwties complying with the
accounting requirements for charities. There was a deficit for the year of £13,14912022= £5,692).
The Trust applies a range of charges for specific ServI￿S provided to the charities of which it is trustee. However, it
is impracticable to set these at a level which would meet the full costs of the Trust. Thames North Synod has
therefore been meeting some of the staffing costs.
The directors decided in 2011 to exercise the right within company law to dispense with an audit of the accounts and
instead to opt for an independent examination of the acc4)unls.
Charities. accounts and reports
Having regard to the Charities SORP and the Charities (Aixounts and Reports) Regulations 2008, the Trust's report
and accounts distinguish be￿een assets and liabilities of the Trust as provider of trustee services, and assets and
liabilikn'es of charities for which the Tnjst acts as charity trustee or custodian trustee.
The Balance Sheet on page 8 and the S￿lement of Financial Activities on page 7 deal wilh the Trust's own activities
in providing trustee services.
Information about assets held by the Trust as trustee for other tharities is given in a separate statement on pages 10-
13. Infomalion about investments held for charities of which the Trust is trustee is provided lo these charities
annualty and as transactions are carried out. Stalernents about transactions on current and deposit accounts are
also supplied annualty and when income is remitted and on request from churthes.
Resepies Policy
The Twst had reserves of £50,346 at the end of 2023 (2022.. £63,495). This represents approximately 8 months of
nomial expenditure and is considered adequate for the Trust to maintain a positive cash flow throughout the year. A
general assurance has been given on behalf of Synod that if the Trust's resources be(x)me insufficient to meet its
costs, any shortrall will be mel from Synod's funds.
Transactions
The Trust has few assets of its own. The costs of providing its services are analysed in the Statement of Financial
Activities on page 7. These costs are met from interest on bank balan￿S and charges to the charities for which
services are provided.
I banking transadions on behalf of individual charities are on through the bank account of the Trust, with
appropriate identification in the accounting reo)rds.
Professional fees incurred in property and other transactions are met out of the capital re￿iVed or paid direct by the
local church or Thames North Synod as the case may be. The costs of general legal advice are bome by the Trust.
Investments are made and realised for individual charities in resFX)nse to instnjctions from the local church or
Thames North Synod where appIl￿ble.
Investments are recorded with individual designations for ease of
idenb'fication.
Investment income received for individual charities is mostly remitted to those entiued to it or responsible for its
subsequent distribution according lo the relevant trusts. Retained income is held for the relevant charities and
remitted to them when required.
Uninvested balances for individual charities are mosly placed in interest bearing deposit accounts open to charities.
Annual Reportand Acccunts 2023
Page4of 12

URC Thames North Trust
Funds held on behalf of olhers
Investments are registered in the name of the Trust with a designation identifying the particular charity wtth the
beneficial interest.
Information about the Trust's holdings as trustee for other5 is given on pages 10-12.
Statement of Directors. Responsibilities
The Directors are responsible for preparing the Annual Report and the finanual statements in accordance with
applicable law and regulations.
Company law requires the Directors to prepare finaniial statements for each financial year. Under that law the
Trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted
Accounting Pr8Ctice {United Kingdom Accounting Standards and applicable lawl. The financial statements are
required by law to accord with the accounting re(x)rds of the Trust and to show the surplus or deficit for the period
concemed. In preparing these financial statements the Directors are required to"
select suitable accounting policies and apply them consislenuy
obseNe methods and principles in the Charities SORP
make judgements and estimates that are reasonable and pnjdent
slate whether applicable accounting slandards have been followed. subject to any material departures
disclosed and explained in the financial statements
prepare the financial slalemenls on the going concem basis unless il is inappropriate to assume that the Trust
will continue in operation.
The Directors are responsible for keeping adequate accounting records that disclose with reasonable accuracy al any
time the financial position of the Trust and enable them to ensure that the financial statements comply with the
Companies Act 2006. They are also responsible for safeguarding the assets of the Trust and hence for taking
reasonable steps for the prevention and detecb'on of fraud and other i￿egular1ties.
In so far as the directors are aware..
there is no relevant infomation needed for the accounts examination of which the charitable company s
independent examiner is unaware., and
the Directors are responsible for taking all steps necessary to ensure that they are aware of all relevant
information needed for the Trust's independent examiners examination of the accounts, and they have
ensured that the independent examiners are aware of all suth infonnation.
Independent Examiners
The reappointment of HaYSMa￿lltyre, who have indicated their willingness to act as Independent Examiners, will be
the subject of resolutions at the next meeting of the Directors.
Special Exemption and Approval
This report has been prepared in ac(x)rdance wilh the special provisions for smaller companies under Part 15 of the
Companies Act 2006. The Annual Report and Accounts were arculated lo the Directors, by email and approved by
them in September 2024 and the Chaimian was authorised lo sign the report.
It is signed on behalf of the Directors by
M J Gould
Director
Date.. 26th September2024
Annual Reportand Acccunts 2023
Page Sof 12

URC Thames North Trust
INDEPENDENT EXAMINER'S REPORTTO THE MEMBERS OF URC THAMES NORTH TRUST
I report on the accounts of the company for the year ended 31 December 2023 which are sel out on pages 7 10 12.
Respective responsibilities of trustees and exarniner
The Trustees {who are also the Directors of the Charitable Company for the purposes of company lawl are
responsible for the preparation of the financial statements in ac(x)rdance with the requirements of the Companies Act
20061"the 2006 Acl"l. The Trustees are satisfied that an audit is not required for this year under section 144121 of the
Charities Act 2011 {the 2011 Act) and have chosen instead to have an independent examination.
Having satisfied myself that the accounts of the Charitable Company are not required lo be audited under Part 16 of
the 2006 Act and are eligible for independent examination, I report in respect of my examination of the Charitable
Company s financial statements as carried out under section 145 of the 2011 Act. In carying out my examination I
have followed the applicable directions given by the Charity Commission under section 14515llbl of the 2011 Act.
Independent examiner's statement
Since the Charity's income is in excess of £250,000. your examiner must be a member of a body listed in the 2011
Act. I can confirrn that l am qualtfied to undertake the examination because l am a registered member of the Institute
of Chartered Accountants in England and Wales which is one of the listed bodies.
I have completed my exarnination. I wnfirrn that no matters have come to my attention giving me Cause to believe
that in any material respect..
accounting records were not kept in respect of the Charitable Company as required by section 386 of the
2006 Act., or
the financial statements do not accord with those records- or
the financi81 statements do not comply wth the accounting requirements of section 396 of the 2006 Act
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 examinatson", or
the financial statements have not been prepared in accordanee wtth the methods and principles of the
Statement of Recommended Practice for accounting and reporting by charities lapplicable lo Charities
preparing their accounts in accordan￿ with the Finanaal Reporting Standard applicable in the UK and
Republic of Ireland (FRS 102)-
Financial Reporting Stsndard applicable in the UK and Republic of Ireland IFRS 1021.
I have no concems 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 slalements to be reached.
Siobhan Holmes ACA DChA
Haysmacintyre LLP
Chartered Accountants
10 Queen Street Place
London
EC4R 1AG
Date.. 26 September 2024
Annual Reportand Acccunts 2023
Page 6of 12

URC Thames North Trust
STATEMENT OF FINANCIAL ACTMTIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 DECEMBER 2023
2023
2022
Income
Propety and in-house legal fees
Administration charges - Finance
38,636
11.368
17,154
10,153
50,004
Total Charitable activities
27,307
Investment Invoice
CCLA Investrnent rebate
39.714
41,608
Bank and other deposit income
2,150
708
41,864
42,316
Total Income
91.868
69,623
Expenditure on=
Charitable activities
Contribution to office costslsalary costs
Officers, Fees and Expenses
Professional fees relating to (asework
Insuran
Computer and Software support
TelephonelPostagelSlationery
Independent Examination fees
Professional Subscriptions and Training
Companies Housellco
Bank charges
Scanning of Documents
Sundries
31.IM)O
30.937
331
1.184
2,647
1,394
3.780
2.038
48
635
30.594
429
36,000
28,440
156
1,081
1,996
1,220
3,600
1,805
48
652
317
Total Expenditure
105,017
75,315
Deficttlsurplus for the year
113,149}
15,692)
Rese￿eS brought fO￿ard al 1 January 2023
63,495
69,187
Rese￿eS carried fO￿ard 31 December 2023
50.346
63,495
The Trust had no realised or unrealised gains or losses other than the surplus or deficit shown above for the two
years ended 31 Decernber 2023.
There were no discontinued actiwties or acquisitions in the year.
Annual Reportand Acccunts 2023
Page 7of 12

URC Thames North Trust
BALANCE SHEET AS AT 31 DECEMBER 2023
Note
2023
2022
Fixed assets
Current Assets
Debtors
Prepayments
Cash on short term deposit
13,937
1.636
42,093
10.733
1,115
55,187
57,666
67.035
Creditors: Amounts falling due within one year
Accru81s
17,3201
{3,540}
Net current assets
50,346
63.495
Net assets
50,346
63,495
Reserves
General funds
50.346
63.495
The directors consider that the company is entiled to exemption from the requirement to have an audit under the
provisions of sects.on 477 of the Companies Act 2006 (-Ihe Acr) and members have not required Ihe company lo
obtain an audit for the period in question in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which
comply with section 386 of the Acl and for preparing financial stalemenls which accord with the accounting
records of the company as at 31 December 2023 and of its profit or105s for the period then ended in accordance
with the requirements of sections 394 and 395 of the Act and which otherwise comply with the requirements of
the Companies Act 2006 relating to the financial statements so far as applicable to the company.
The financial slalements are prepared in accordance with the special provisions relating to small entities within
Part 15 of the Companies Act 2006 and with FRS 102 Seclion 1A - small entities. The accounts were approved
by the Directors, by email in September 2024. The Chaimian was authorised to sign and issue the accounts.
They are signed on behalf of the directors by
M J Gould
Director
Date.. 26th Septetnber2024
Company No 75432
Annual Reportand Accwnts 2023
Page 8 of 12

URC Thames North Trust
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
ACCOUNTING POLICIES
Convention
The financial statements have been prepared in accordan￿ with the Charities {Accounls and Reports)
Regulations, the Statement of Recommended Practice for Charities {SORP 2019), Companies Act 2006
and Financial Reporbng Standards applicable in the UK and RepLJblic of Ireland. The accounts have
also been prepared in accordance with the FRS102 Section 1A - small entities. They are prepared on
the historical cost basis. Figures are presented in steding and rounded to the nearest pound.
URC Thames North Trust meets the definition of a public benefit entity under FRS102.
The particular accounting pol￿e$ adopted in the preparation of Ihe financial stalements are as follows.'-
General inforniation
The Trust is a company limited by guarantee. incorporaled in England and Wales {company number..
754321 and a charity registered in England and Wales (charity number: 1022551). The registered office
is St Paul's URC, Newton Road. London. W2 5LS.
Preparatlon of the accounts on a golng concem basls.
The directors consider that there are no material uncertainties which would cast doubt on the Trust's
ability to continue as a going concem.
Fund Accounting
General funds are unrestricted funds which are available for use al the discretion of the directors in
furtherance of the general objectives of the Trust and which have not been designated for other
purposes. The Trust has no restricted or designated funds.
Income
All income is included in the Statement of Financial Activities when the Trust is legally entitled to the
income and the amount can te quantified with reasonable accuracy.
Expenditure
All expenditure is al￿Ounted for on an a[￿rualS basis and has been dassified under headings that
aggregate all costs related to the category. Where costs cannot be directly attributed to particular
headings they have been alloroted to activities on a basis Consistent with use of the ￿sourCes.
Properties and investsnents held on behalf of others
The Trust has no property or investments in which it is has the benefiaal interest. The properties and
investments which stsnd in its name are held for the benefit of other charities of which it is trustee or
custodian truslee. Such properties and investments are nol assets of the Trust and are not included in
these accounts.
Cash in hand
I banking transactions on beh8W of charities of which the Trust is trustee or cust(Klian trustee pass
through the Trust's bank a￿ount. The balance in hand held on behalf of others is shown on page 12.
Creditors
Short term Creditors are measured at the transaction pri￿. Other financial liabilities, including bank
loans, are measured initially at fair value, net of transaction costs, and are measured subsequenuy at
amortised cost using the effective interest meth(MJ.
Annual Reportand Accwnts 2023
Page 9 of 12

URC Thames North Trust
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
Directors. emoluments
The Tmst does not have power to remunerate its directors. No expenses were paid to directors
in 2023. {2022- £0)
Limitation of guarantee
In the event of the Trust being wound up. each member has undertaken to contribute lo the
assets of the Trust such amounts as required not exceeding £1.
The Trust has no power to pay dividends etr to its members, and in the event of its dissolution
its property is lo be paid to another appropriate tharilable bc#ly and not to ils members.
ASSETS HELD AS TRUSTEE OR CUSTODIAN TRUSTEE AS AT 31 DECEMBER 2023
The information given on this and the two following pages is reviewed by the Trust's
independent examiner and covered by the report on page 7.
Propertles
Freehold and leasehold properties are vested in the Tnjst as trustee on behalf of United Refornied
Churches or on behalf of Thames North Synod of the United Reformed Church. The cost or value of
most of these properties al the date of original purchase or transfer to the Trusl is not known. They are
not therefore included in the Statement of Assets Held as Trustee on page 11.
Investments
Investments are held on behalf of 50 churches. Thames North Synod and other trusts assoaaled with
the United Refomied Church in Thames North Syn(Kl. They are shown al market value in the Slalemenl
of Assets Held as Tnjslee on page 11. The analysis in Note B on page 12 shows these investments at
cost or, in the r2se of some investments transferred to the Trust where the original cost is not known, al
market value on the dale of transfer.
Cash on short temi deposit and at bank
Some moneys held on behalf of churches, trusts and Thames North Synod are held in interest bearing
deposit accounts maintained by the Trust wilh individual designations. The Trust's bank balance
includes amounts held on behalf of churches, trusts and Thames North Synod, in both current and
interest bearing ac(x)unts. These holdings are summarised in Note A on page 11.
Income from investments and ￿sh deposits
Investment income received for individual charities is mosly remitted to those entitled to it or
responsible for ils subsequent distribulion according lo Ihe relevant trusts. Retained income is held for
the relevant charity and remitted to them when required.
Information for charity trustees
The Trust provides annual financial infomation about investments held for the charities of which it is
trustee or custodian trustee. Interim information is provided as required. The Trust also provides
slalemenls aboul transaclions on currenl and deposit accounts annually and when income is remitted.
Annual Rewrt and Puounts 2023
Page 10 of 12

URC Thames North Trust
STATEMENT OF ASSETS HELD AS TRUSTEE OR CUSTODIAN TRUSTEE AS AT 31 DECEMBER
2023
Nole
2023
2022
Fixed assets
Investments at market value
31.126,940
28,517.992
Current assets
Cash on short tem deposit
Cash at bank
18.923,667
2,944,255
14,921,124
635,622
21,867,922
15,556,746
Total assels
52.994,862
44,074,738
NOTES TO THE STATEMENT OF ASSETS HELD AS TRUSTEE OR CUSTODIAN TRUSTEE
CASH ON SHORT TERM DEPOSIT OR AT BANK
2023
2022
Short term deposits held on behalf of:.
Thames North Synod
Others
5,556,220
13.367,447
4,564,279
10,356,845
18.923,667
14,921,124
Cash at bank held on beha￿ of..-
Thames North Synod
Others
{16,2491
2,960.504
3,826
631,796
2,944,255
635,622
Annual Rewrt and Puounts 2023
Page11 of12

URC Thames North Trust
INVESTMENTS
Summary by Beneficiary
Thames
North Synod
Churches
Others
Total
At cost
At 31 December 2022
Transfer
10,308,917
8,611,497
456,528
19,376,942
Additions-_
New funds
828
828
Reinvestrnent
528.141
10,000
538,141
Disposals.
(571,358)
(11,2291
{582,5871
At 31 December 2023
10.308,917
8.569.108
455,299
19,333,324
At market value
At 31 December 2022
15.066,289
12,770.452
681,251
28,517,992
At 31 December 2023
16.570,861
13,810.186
745,893
31,126,940
Summary by Type
Unit TTust5,
Common
Investment Funds
Government
Stocks
Listed
Investments
Total
At cost
At 31 December 2022
19.373.459
3.482
19,376.941
Additions:_
New funds
Reinvestment
828
538.141
828
538.141
Disposals
1582,588)
1582,5881
At 31 December 2023
19,329,840
3,482
19,333,322
At market value
Al 31 December 2022
28.479.888
38,104
28,517.992
At 31 December 2023
31.067.188
59,752
31,126.940
Annual Rewrt and Puounts 2023
Page 12 of12