COMPANY NO.: 75432
REGISTERED CHARITY NO.: 1022551
URC THAMES NORTH TRUST
(A c(*npany limtted by guarantee and having no share capital)
ANNUAL REPORT AND FINANCIAL STATEMENTS
Year ended 31 December 2024
CONTENTS
Page
Report of the Directors and Trustees
Independent Examinerfs Report
Statement of Financial Activities
Balance Sheet
Notes to the Financial Statements
Assets Held as Trustee
Annual Reportand Accwnts 2024
Page 1 of 12

URC Thames North Trust
REPORT OF THE DIRECTORS AND TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024
The Directors have pleasure in presenting their report and the financial statements of URC Thames North Twst Ilhe
Trust") for the year ended 31 December 2024.
The report incorporates Info￿natIon complying with the Charits'es 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. Whilst a
Secretary and Trust Officer have been appointed, there is no treasurer in post. These officers undertake the day to
day work of the Trust including the keeping of the financial records and preparation of the annual accounts. They
report lo the regular rneetings of Directors and consult Directors between meetings as necessary.
Directors are kept informed of deVelO￿ents 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 M J Gould Ichaimianl (10 23 March 2025)
Mr B M Hosier
Mr B W Moere
Mrs J Wyber
Mrs K Yates
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. Binningham, B3 2ES.
Cripps Pemberton Greenish LLP,
22 Mount Ephraim Road, Tunbtidge Wells,
Kent. TN4 8AS
Independent Examiners
Lee Stokes FCA
Haysmac LLP
10 Queen Street Place. London, EC4R 1 AG.
Annual Reportand Acccunts 2024
Page 2of 12

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 Refomed 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 93 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 165 churches) within the area of the Thames North
Synod or persons assoryated with the Synod 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 guidan￿ on public benefit in Ihe "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 8nd 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 211 the deeds and retained documentation has now been completed. however there is still
work lo be done to ensure that all documents are individually labelled and in the CO￿eCt sedions on the propety
database. Work will continue in wpulating the database with the relevant infom)ation.
Annual Reportand Acccunts 2024
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 surplus for the year of £5,29812023.' Defi￿1 £13,149).
The Trust applies a range of charges for spectfic services provided to the charities of which it is trustee. However, it is
impracticable lo set these al 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 accounts.
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
liabilits'es of charities for which the Tnjst acts as charity trustee or custodian trustee.
The Balance Sheet on page 8 and the s￿tement of Financial Activities on page 7 deal wilh the Ttust'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-
12. Infomiation about investments held for charities of which the Trust is trustee is provided to these charities
annualty and as transaction5 are carried out. Statements about transactions on current and dep051t accounts are also
supplied annually and when income is remitted and on request from churches.
Resepies Policy
The Trust had reserves of £55,644 at the end of 2024 12023= £50,346). This represents approximately 9 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. rf 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 tts own. The tx)sts of providing its Se￿iceS are analysed in the Statement of Financial
Activities on page 7. These costs are met from interest on bank balances and charges lo 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 genefal legal advice are borne 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 applicable. Investments are recorded wlh individual designats'ons 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 2024
Page4of 12

URC Thames North Trust
Funds held on behalf of olhers
Investments are registered in the name of the Trust wtth a designation identifying the particular charity with the
beneficial interest.
Information about the Trust's holdings as trustee for others is given on pages 10-12.
statement of Directors. Responsibilities
The Directors are responsible for preparing the Annual Report and the finanaal statements in accordance with
applicable law and regulations.
Company law requires the Directors lo prepare finanual statements for each financial year. Under that law the
Trustees have elected to prepare the financial statements in accordan￿ with United Kingdom Generally Accepted
Accounting Practice {United Kingdom Accounting Standards and applicable lawl. The financi81 statements are
required by law to accord with the acwunting records 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 consistently
observe methods and principles in the Charities SORP
make judgements and estimates that are reasonable and prudent
stale whether applicable a(xounting standards have been followed. subject to any material departures
disclosed and explained in the financial statemenls
prepare the financial slalements on the going concem basis unless tt is inappropriate lo 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 detection of fraud and other irregularities.
In so far as the directors are aware..
there is no relevant information 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
infomiation needed for the Trust's independent examiners examination of the accounts, and they have
ensured that the independent examiners are aware of all such infom)atson.
Independent Examlners
The reappointmenl of Haysmac LLP. who have indicaled their willingness lo act as Independent Examiners, will be
the subject of resolutions at the next meeting of the Directors.
Speclal Exemptlon and Approval
This report has been prepared in accordan￿ with the special provisions for smaller companies under Part 15 of the
Companies Act 2006. The Annual Report and Accounts were circulated to the Directors, by email and approved by
them in September 2025 and a director was authorised to sign the retxirt.
It is signed on behalf of the Directors by
B M Hosier
Director
24 September 2025
Annual Reportand Acccunts 2024
Page Sof 12

URC Thames North Trust
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF URC THAMES NORTH TRUST
report to the trustees on my examination of the aixounts of URC Thames North Trust for the year ended 31
December 2024 which are sel out on pages 7 to 12.
Respective responsibilities of trustees and examiner
The trustees (who are also the directors of the company for the purposes of company lawl are resFK)nsible for the
preparation of the accounts in accordance with the requirements of the Companies Act 2006 {"Ihe 2006 Act'l.The
trustees are satisfied that an audit 15 not required for this year under section 144{2} 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 charita￿e 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 the charitable
company's accounts as carried out under section 145 of the 2011 Act. In carrying out my examination I have followed
the requirements of the applicable Directions given by the Charity Commission under section 14515}Ibl of the 2011
Act.
Independent examiner's statement
sin￿ the charity has prepared its accounts on an accruals basis your examiner must be a member of a body listed in
the 2011 Act. I can confimi that l am qualified to undertake the examinalion because l am a registered member of the
Institute of Chartered Account2nts in England 2nd Wales which is one of the listed bodies.
I have completed my examination. I confiTh that no matters have come to my attention giving me cause lo believe
that in any material respect..
accounting records were not kept in respect of the Company as required by section 386 of the 2CH)6 Act: or
the accounts do not accord with those records: or
the accounts do not comply with the accounting requirements of sectK)n 396 of the 2006 Act other than any
requirement that the accounls give a 'true and fair view which is not a maller considered as part of an
independent examin8tion', or
the accounts have not been prepared in accordance with the meth(xls and principles of the Ststement of
Recommended Practice for accounting and reportiTrJ by charities.
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 understandiTrJ of the accounts to be reached.
Lee Stokes FCA
Haysmac LLP
Chartered Accountants
10 Queen Street Place
London
EC4R 1AG
Date.. 25 September 2025
Annual Reportand Acccunts 2024
Page 6of 12

URC Thames North Trust
STATEMENT OF FINANCIAL ACTMTIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 DECEMBER 2024
2024
2023
Income
Property and in-house legal fees
27,019
38,636
Administration charges - Finance
20.562
11,368
47,581
50,004
Totsl Charitable activilies
Investrnent Invoice
CCLA Investment rebate
42,507
39,714
Bank and other deposit income
2.719
2,150
45,226
41.864
Total Income
92,807
91,868
Expenditure on=
Charitable activities
Contribution to ofFi¢e costslsalary costs
Officers, Fees and Expenses
Professional fees relaling to casewo
Insurance
Computer and Software SUPF
TelephonelPostagelStationery
Independent Examination fees
Professional Subscriptions and Training
Companies Housellco
Bank charges
Scanning of Dccuments
Sundries
41.000
33.503
587
1.636
1,959
1.269
4.080
2,182
69
850
31,000
30,937
331
1,184
2,647
1,394
3,780
2,038
48
635
30,594
429
374
Total Expendilure
87,509
105,017
Deficitlsurplus for the year
5,298
113,1491
Reserves brought forward at 1 January 2024
50,346
63,495
Reserves carried forward 31 December 2024
55.644
50,346
The Trust had no realised or unrealised gains or k)sses other than the surplus or deficit shown above for the two
years ended 31 December 2024.
There were no discontinued activities or acquisitions in the year.
Annual Reportand Acccunts 2024
Page 7of 12

URC Thames North Trust
BALANCE SHEET AS AT 31 DECEMBER 2024
Note
2024
2023
Fixed assets
Current Assets
Debtors
Prepayments
Cash on short lerm deposit
22,036
1.657
36,031
13,937
1,636
42,093
59,724
57.666
Creditors: Amounts falling due within one year
Accru81s
14,0801
{7,320)
Net current assets
55,644
50.346
Net assets
55,644
50,346
Reserves
General funds
55.644
50.346
The directors consider that the company is entttled to exemption from the requirement to have an audit under the
provisions of sects.on 477 of the Companies Act 20061.the Acl") and rnembers have nol required the company to
obtain an audit for the period in question in accordance with section 476 of the Act.
The directors acknowledge their responsibilibes 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 2024 and of its profit or loss for the period then ended in accordance
with the requirements of sedions 394 and 395 of the Act and which otherwise comply wth 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 2025. The Chaimian was authorised to sign and issue the accounts.
They are signed on behalf of the directors by
B M Hosier
Director
24 September 2025
Company No 75432
Annual Reportand Accwnts 2024
Page 8 of 12

URC Thames North Trust
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
ACCOUNTING POLICIES
Convention
The financial statements have been prepared in a￿)rdance with the Charities {Accounts and Reports)
Regulations, the Siatemenl of Recommended Praclice for Charities ISORP 20191, Companies Act 2006
and Financial Reporting Standards applicable in the UK and Republic of Ireland. The accounts have
also been prepared in aixordance with the FRS102 Section 1A - small entities. They are prepared on
the historical cost basis. Figures are presented in slerfing and rounded lo Ihe nearest pound.
URC Thames North Trust meets the definition of a public benefit entity under FRS102.
The particular accounting polioes adopted in the preparation of the finanryal statements are as follows'.-
General infomiation
The Trust is a company limited by guarantee. incorporated in England and Wales (company number..
754321 and a charity registered in England and Wales (charity number.. 1022551). The registered office
is Sl Paul's URC. Newton Road. London. W2 5LS.
Preparation of the accounts on a going concem basis.
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 Accountlng
General funds are unrestricted funds which are available for use at the discretion of the directors in
furtheran￿ of the general objectives of the Trust and which have not been designated for olher
purposes. The Trust has no restricted or designated funds.
Income
All income is included in the Statement of Financial AclNlties when the Trust is legally entiued to the
income and the amount can be quantified with reasonable accuracy.
Expendlture
l expenditure is aithunted for on an St￿rualS basis and has been classified under headings that
aggregate all costs related to the category. Where wsls cannot be directly attribuled lo particular
headings they have been allocated lo activities on a basis consistent with use of the resources.
Properties and investments held on behalf of others
The Trust has no property or inveslments in which il is has the beneficial interest. The properties and
investments which 8tsnd in its n2me are held for the benefft of other charities of which it is trustee or
custodian trustee. Such properties and investrnents are nol assets of the Trusl and are not included in
these accounls.
Cash in hand
All banking Iransactions on beham of charities of whith the Trust is trustee or custodian trustee pass
through the Trust's bank account. The balan￿ in hand held on behalf of othets is shown on page 11.
Creditors
Short term creditors are measured at the transaction PTtee. Other ffinancial 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 method.
Annual Reportand Accwnts 2024
Page 9 of 12

URC Thames North Trust
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
Directors. emoluments
The Tmst does not have power to remunerate its directors. No expenses were paid to directors
in 2024. {2023- £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 charitable body and not to its members.
ASSETS HELD AS TRUSTEE OR CUSTODIAN TRUSTEE AS AT 31 DECEMBER 2024
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 Untted 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 Trust 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 47 churches. Thame5 North Synod and other trusts associated with
the United Refomied Church in Thames North Syn(Kl. They are shown al market value in the Stalemenl
of Assets Held as Tnjslee on page 11. The analysis in Note B on page 12 shows these investments at
cost or, in the case of some investments transferred to the Trust where the original cost is not known. at
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 with 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 mostly remitted to those entitled to it or
responsible for ils subsequent distribu￿on 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 current and deposit accounts annually and when income is remitted.
Annual Rewrt and Puounts 2024
Page 10 of12

URC Thames North Trust
STATEMENT OF ASSETS HELD AS TRUSTEE OR CUSTODIAN TRUSTEE AS AT 31 DECEMBER
2024
Nole
2024
2023
Fixed assets
Inveslmenls at market value
35.868,530
31,126,940
Current assets
Cash on short tem deposit
Cash at bank
21.034,659
3,782,130
18,923,667
2.944,255
24.816,789
21,867,922
Total assets
60.685,319
52,994,862
NOTES TO THE STATEMENT OF ASSETS HELD AS TRUSTEE OR CUSTODIAN TRUSTEE
CASH ON SHORT TERM DEPOSIT OR AT BANK
2024
2023
Short temi deposits held on behalf of:_
Thames North Synod
Others
2,436,982
18.597,677
5,556,220
13,367,447
21.034,659
18,923,667
Cash at bank held on behalf of..-
Thames North Synod
Others
19.1881
3,791.318
116,2491
2,960,504
3,782,130
2.944,255
Annual Rewrt and Puounts 2024
Page11 of12

URC Thames North Trust
INVESTMENTS
Summary by Beneficiary
Thames
North Synod
Churches
Others
Total
At cost
At 31 December 2023
Transfer
10,308,917
8,569,108
455,299
19,333,324
Additions-_
New funds
4.717,227
4,717,227
Reinvestrnent
Disposals.
593.156
20,687
613,843
At 31 December 2024
15.026,144
7.975.952
434,612
23,436,708
At market value
At 31 December 2023
16.570,861
13,810.186
745,893
31,126,940
At 31 December 2024
21.753,359
13,369.803
745,368
35,868,530
Summary by Type
Unit TTust5,
Common
Investment Funds
Government
Stocks
Listed
Investments
Total
At cost
At 31 December 2023
19.329.840
3.484
19,333.324
Additions:_
New funds
Reinvestment
4.717.227
4.717.227
Disposals
1613,843)
1613,8431
At 31 December 2024
23,433,224
3,484
23,436,708
At market value
Al 31 December 2023
31.067.188
59,752
31,126.940
At 31 December 2024
35.809.700
58,830
35,868.530
Annual Rewrt and Puounts 2024
Page 12 of12