REGISTERED CHARITY NUMBER: 1043090 THE FRIENDS OF ST EBBE'S TRUST REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Mercer Lewin Ltd Chartered Accountants 6-7 Citibase New Barclay House 234 Botley Road Oxford OX2 OHP
THE FRIENDS OF ST EBBE'S TRUST CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Page Report of the Trustees Independent Examlnerfs Report Statement of Financlal Activities Balance Sheet Notes to the Flnancial Statements 7 to 12 Detailed Statement of Flnancial Activitles 13
THE FRIENDS OF ST EBBE'S TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 The trustees present their report with the financial statements of the charity for the year ended 31 December 2024. The trustees have adopted the provisions of 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 and aims The Trust has been set up as a registered charity for the advancement of the Christian gospel in the City of Oxford. in particular by supporting evangelism and pastoral work amongst the students and other young people in the universities, colleges and elsewhere. Its primary aim at the outset was to fund a student curate or worker at st Ebbe's. The charity appeals for donations and gifts to help support the employment costs of stsff directly involved in the student ministy at St Ebbe's. The Trustees have complied with the duty within Section 17{5) of the Charities Act 2011 to have due regard to the public benefit guidance published y the Charity Commission. ACHIEVEMENT AND PERFORMANCE Charitable actlvlties The charity continued its role in financially supporting the student work at St Ebbe's Church. FINANCIAL REVIEW Financial position Donations and gifts received totalled £181.830 (2023.. £210,566). The market value of investments at the balan sheet date was £143,251 (2023.. £140,168). The net assets of the trust were £125,674 (2023. £103,728) after taking account of the 2023124 annual grant committed up to 30 September 2024. The core grant committed for the year ended 30 September 2024 is £153,713.10. The liability for grants to St Ebbe's at 31 Dember 2024 (including this core grant) is £153,713.10. In addition to this core grant, other grants were made to St Ebbe's in 2024. STRUCTURE, GOVERNANCE AND MANAGEMENT Governlng document The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
THE FRIENDS OF ST EBBE'S TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Charlty constitution The Trust was constituted by a deed dated 13 December 1994 and is administered and managed by the trustees under the name of the Friends of St Ebbe's Tnjst or any other name the trustees may decide with the approval of the Charity Commissioners for England and Wales. The board of Trustees consists of at least six people being: 1. The ex-officio trustee, who shall be the Rector or Priest in Charge of St Ebbe's Church, Oxford or. during an interregnum, a person nominated by the last Rector or Priest in Charge, or a person nominated by the Churchwardens of St Ebbes., 2. Two nominated trustees, one appointed by the Parochial Church Council of St Ebbe's and the other appointed by the Oxford Churches Trust. Each appointment shall be for a term of four years at a meeting convened and held according to the ordinary practice of the appointing body. The person appointed may be, but need not be, a member of the appointing body. 3. Four co-opted trustees who are to be persons who through residence, occupation, employment or otherwise have special knowledge of the area of benefit or who are otherwise able by virtue of their personal or professional qualifications to make a contribution to the pursuit of the objects or the management of the charity- They are to be appointed for a term of five years by a resolution of the trustees passed at a special meeting of which not less than 21 days, notice has been given. REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 1043090 Principal address clo St Ebbe's Rectory 2 Roger Bacon Lane OXFORD OX1 1QE Trustees S Neal (Treasurer) A Maidment (Chair) O Bartlett (Co-chair) J Chan M van der Walt V Roberts A Carter A Felce G Green Independent Examiner A Churchill Stone FCA DChA Mercer Lewin Ltd Chartered Accountants 6-7 Citibase New Barclay House 234 Botley Road Oxford OX2 OHP
THE FRIENDS OF ST EBBE'S TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 Approved by order of the board of trustees on . 3111012025 and signed on its behalf by: Trustee
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE FRIENDS OF ST EBBE'S TRUST Independent examiner's report to the trustees of The Friends of St Ebbe's Trust I report to the charity trustees on my examination of the accounts of The Friends of St Ebbe's Trust (the Trust) for the year ended 31 December 2024. Responsibilities and basis of report As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 {'the Act,). I report in respect of my examination of the Trusvs account5 carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act. Independent examiner's statement I have completed my examination. I confimi that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect.. accounting records were not kept in respect of the Trust as required by Section 130 of the Act- or the accounts do not accord with those records., or the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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. 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 understsnding of the accounts to be reached. A Churchill Stone FCA DChA Mercer Lewin Ltd Chartered Accountants 6-7 Citibase New Barclay House 234 Botley Road Oxford OX2 OHP Date.. 3.1.. 23
THE FRIENDS OF ST EBBE'S TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024 2024 Total funds 2023 Total funds Unrestricted Endowment fund fund Notes INCOME AND ENDOWMENTS FROM Donations and legacies 181,830 181,830 210,566 Investment income other income 3,268 3,887 3,268 3,887 2,866 Total 188,985 188,985 213,432 EXPENDITURE ON Raising funds 960 Charitable activities Support for St Ebbe's Church 170,121 170,121 183,846 Total 170,121 170,121 184,806 Net gainsl(losses) on investments 3,768 16861 3,082 6,412 NET INCOMEI{EXPENDITURE) 22,632 (6861 21,946 35,038 RECONCILIATION OF FUNDS Total funds brought forward 86,811 16,917 103,728 68,690 TOTAL FUNDS CARRIED FORWARD 109,443 16,231 125,674 103,728 The notes form part of these financial statements
THE FRIENDS OF ST EBBE'S TRUST BALANCE SHEET 31 DECEMBER 2024 2024 Total funds 2023 Total funds Unrestricted Endowment fund fund Notes FIXED ASSETS Investments 127,020 16,231 143,251 140,168 CURRENT ASSETS Debtors Cash at bank 14,680 41,498 14,680 41,498 25,190 90,733 56,178 56,178 115,923 CREDITORS Amounts falling due within one year (73,755) (73,755) (152,363) NET CURRENT ASSETS (17,577) (17,577) (36,440) TOTAL ASSETS LESS CURRENT LIABILITIES 109,443 16,231 125,674 103.728 NET ASSETS 109,443 16.231 125,674 103,728 FUNDS Unrestricted fvnds Endowment funds 109,443 16,231 86,811 16,917 TOTAL FUNDS 125,674 103.728 The financial statements were approved by the Board of Trustees and authorised for issue on and were signed on its behalf by- Trustee The notes form part of these financial ststements
THE FRIENDS OF ST EBBE'S TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 ACCOUNTING POLICIES BASIS OF PREPARING THE FINANCIAL STATEMENTS The financial statements of the charity, which is a public benefst entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 IFRS 102) (effective 1 January 20191,, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets. INCOME All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. EXPENDITURE Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure. TAXATION The charity is exempt from tax on its charitable activities. FUND ACCOUNTING Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fijnd is included in the notes to the financial statements. INVESTMENT INCOME 2024 2023 Other fixed asset invest- Fll 3,268 2,866 continued...
THE FRIENDS OF ST EBBE'S TRUST NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2024 RAISING FUNDS RAISING DONATIONS AND LEGACIES 2024 2023 Support costs 960 TRUSTEES. REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the year ended 31 December 2024 nor for the year ended 31 Dernber 2023. TRUSTEES. EXPENSES There were no trustees. expenses paid for the year ended 31 December 2024 nor for the year ended 31 December 2023. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted Endowment fund fund Total funds INCOME AND ENDOWMENTS FROM Donation5 and legacies 210,566 210,566 Investment income 2,865 2,866 Total 213,431 213,432 EXPENDrruRE ON Raising fvnds 960 960 Charitable actlvities Support for St Ebbe's Church 183,846 183.846 Total 184.806 184.806 Net gains on investments 6,176 236 6,412 NET INCOME 34,801 237 35.038 RECONCILIATION OF FUNDS Total funds brought fonmard 52.010 16,680 68.690 TOTAL FUNDS CARRIED FORWARD 86,811 16,917 103,728 continued.-.
THE FRIENDS OF ST EBBE'S TRUST NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024 FIXED ASSET INVESTMENTS Unlisted investments MARKET VALUE At 1 January 2024 Revaluations 140,168 3,083 At 31 Dember 2024 143,251 NET BOOK VALUE At 31 December 2024 143,251 At 31 December 2023 140,168 There were no investment assets outside the UK. Cost or valuation at 31 December 2024 is represented by.. Unlisted investments Valuation in 2017 Valuation in 2018 Valuats'on in 2019 Valuation in 2020 Valuation in 2021 Valuation in 2022 Valuation in 2023 Valuation in 2024 Cost 66 (6.440) 5,021 5,397 (11,245) (20,781) 6,412 3,083 161,738 143,251 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Prepayments and accrued income 14,680 25,190 continued...
THE FRIENDS OF ST EBBE'S TRUST NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Other creditors 73,755 152,363 MOVEMENT IN FUNDS Net movement in funds At 31112124 At 111124 Unrestricted funds General fund 86,811 22,632 109,443 Endowment funds Expendable Endowment 16,917 (686) 16,231 TOTAL FUNDS 103,728 21,946 125,674 Net movement in funds, included in the above are as follows-. Incoming resources Resources expended Gains and losses Movement in funds Unrestricted funds General fund 188,985 {170,121) 3,768 22,632 Endowment funds Expendable Endowment (686) (686) TOTAL FUNDS 188,985 (170,121) 3,082 21,946 Comparatives for movement in funds Net movement in funds At 31112123 At 111123 Unrestricted funds General fund 52,010 34,801 86,811 Endowment funds Expendable Endowment 16,680 237 16,917 TOTAL FUNDS 68,690 35,038 103,728 10 continued...
THE FRIENDS OF ST EBBE'S TRUST NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024 MOVEMENT IN FUNDS - continued Comparative net movement in fijnds, included in the above are as follows.. Incoming resources Resources expended Gains and losses Movement in funds Unrestricted funds General fund 213,431 (184,806) 6,176 34,801 Endowment funds Expendable Endowment 236 237 TOTAL FUNDS 213.432 (184,806) 6,412 35,038 A current year 12 months and prior year 12 months combined position is as follows- Net movement in funds At 31112124 At 111123 Unrestrlcted funds General fund 52,010 57,433 109,443 Endowment funds Expendable Endowment 16,680 (449) 16,231 TOTAL FUNDS 68,690 56,984 125,674 A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows.. Incoming resources Resources expended Gains and losses Movement in funds Unrestricted funds General fund 402,416 (354,927) 9,944 57,433 Endowment funds Expendable Endowrnent (450) (449) TOTAL FUNDS 402,417 (354,927) 9,494 56,984 continued...
THE FRIENDS OF ST EBBE'S TRUST NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024 10. RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 31 December 2024. 12
THE FRIENDS OF ST EBBE'S TRUST DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 INCOME AND ENDOWMENTS Donations and legacies Donations Gfft aid 164,795 17,035 188,872 21.694 181,830 210,566 Investment income Other fixed asset invest- Fll 3,268 2,866 Other income RBS Bank compensation 3.887 Total incoming resources 188,985 213,432 EXPENDITURE Charitable activities Sundries Grants to institutions Grants to individuals 520 106,495 61,906 3,301 104,597 74,748 168,921 182,646 Support costs Governance costs Accountancy and legal fees 1,200 2,160 Total resources expended 170,121 184,806 Net income 18,864 28,626 This page does not form part of the statutory financial statements 13