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2024-12-31-accounts

Docusign Envelope ID: 23133A6D-24D5-4A4C-B9D5-575699EB67D0

Charity number: 1061458

THE OGLE CHRISTIAN TRUST

UNAUDITED

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Docusign Envelope ID: 23133A6D-24D5-4A4C-B9D5-575699EB67D0

THE OGLE CHRISTIAN TRUST

CONTENTS
Page
Reference and administrative details of the Charity, its Trustees and advisers 1
Trustees' report 2 - 4
Independent examiner's report 5
Statement of financial activities 6
Balance sheet 7
Notes to the financial statements 8 - 15

Docusign Envelope ID: 23133A6D-24D5-4A4C-B9D5-575699EB67D0

THE OGLE CHRISTIAN TRUST

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2024

Trustees

R Goodenough, Chairman F J Putley, Secretary

A T Hinsley S Procter P D Bigmore Dr C Walker

Charity registered number

1061458

Principal office

Here for Good - Community Centre 17 Sydenham Road London SE26 5EX

Secretary

F J Putley

Accountants

Griffin Stone Moscrop & Co Chartered Accountants 21-27 Lamb's Conduit Street London WC1N 3GS

Bankers

HSBC plc 55 High Street Steyning West Sussex BN44 3RE

Solicitors

Wellers Tenison House Tweedy Road Bromley Kent BR1 3NF

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Docusign Envelope ID: 23133A6D-24D5-4A4C-B9D5-575699EB67D0

THE OGLE CHRISTIAN TRUST

TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2024

The Trustees present their annual report together with the financial statements of The Ogle Christian Trust for the year 1 January 2024 to 31 December 2024.

Objectives and activities

a. Policies and objectives

In setting objectives and planning for activities, trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit and in particular to its supplementary public benefit guidance.

The trust deed allows for funds to be allocated to charitable purposes in any part of the world, but particularly for the advancement of the Christian faith and relief of poverty, hardship and distress. In practice, funds are mainly directed to new initiatives in evangelism world-wide, support of missionary enterprises, Bible student training, help to retired missionary workers and to famine and relief organisations. These objectives ensure that the trust meets the Charity Commission's public benefit criteria.

The activities of the trust are carried out almost exclusively by the trustees who willingly give their time and energy.

Achievements and performance

a. Key performance indicators

The trustees make investment decisions and review investment performance to ensure that there is income during each year to enable the charity to make a reasonable level of grants in the light of its financial resources.

The trustees also aim to maintain the administration costs of the trust at a proportionately low level, both in relation to income earned and compared to grants made. The administration and governance costs of the trust for 2024 amounted to £4,770 which is 8.0% of income (2023 - 7.7%) and 2.9% of overall grant expenditure (2023 - 2.8%), both of which are considered to be satisfactory.

b. Review of activities

The trustees have sought to generate a reasonable level of income commensurate with protecting the real capital value of the trust's investments.

Income during the year amounted to £59,654 (2023 - £63,700). Grants totalling £167,100 (2023 - £178,900) were made to 49 (2023 - 54) beneficiaries during the year. There was a transfer of £137,500 from the capital fund to the income fund during the year (2023 - £130,000). The aggregate market value across all investments at the balance sheet date was £2.008m (2023 - £2.005m).

c. Investment policy and performance

Income from investments during the year amounted to £50,504 (2023 - £54,960). The investments continued their recovery from the significant losses suffered in 2022 as a result of the markets reacting in a volatile manner to the global uncertainty arising from both Russia's invasion of Ukraine and also in response to inflationary conditions and changes in interest rate policies internationally.

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Docusign Envelope ID: 23133A6D-24D5-4A4C-B9D5-575699EB67D0

THE OGLE CHRISTIAN TRUST

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

Financial review

a. Reserves policy

Both the capital fund and the accumulated income and expenditure fund are unrestricted and, as it is the general policy of the trustees to retain capital, the capital fund is to that extent designated. The trustees do, however, have the authority to distribute the trust's capital fund. It is also the policy of the trustees to distribute the whole of the income on a cumulative basis.

Structure, governance and management

a. Constitution

The Ogle Christian Trust was created by a Deed of Trust on 15 September 1996 and was registered with the Charity Commission (Registration Number: 1061458) on 20 March 1997.

b. Methods of appointment or election of Trustees

The management of the charity is the responsibility of the trustees who are elected and co-opted under the terms of the trust deed. The trustees may appoint additional trustees subject to such new trustees endorsing the statement of Faith referred to in the Schedule and provided that the number of trustees shall not be less than four nor more than six.

c. Risk management

The trustees have assessed the major risks to which the charity is exposed, in particular those related to its operations and finances, and are satisfied that systems and procedures are in place to mitigate the charity's exposure to those risks.

Plans for future periods

The trust keeps under constant review a wide range of Christian activities within and beyond the appeals made to it. It is trust policy to make personal contact with recipient organisations wherever substantial payments are under consideration. Every effort is made to ensure funds are used for their designated purpose.

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Docusign Envelope ID: 23133A6D-24D5-4A4C-B9D5-575699EB67D0

THE OGLE CHRISTIAN TRUST

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

Statement of Trustees' responsibilities

The Trustees are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial period which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by order of the members of the board of Trustees and signed on their behalf by:

................................................ R Goodenough (Chair of Trustees) Date: 14 May 2025

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Docusign Envelope ID: 23133A6D-24D5-4A4C-B9D5-575699EB67D0

THE OGLE CHRISTIAN TRUST

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2024

Independent examiner's report to the Trustees of The Ogle Christian Trust ('the Charity')

I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 December 2024.

Responsibilities and basis of report

As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').

I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Your attention is drawn to the fact that the Charity has prepared the accounts in accordance with 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) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.

I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

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 the Charity as required by section 130 of the 2011 Act; or

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

  3. 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 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.

This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.

14/5/2025 Signed: Dated: Richard Hill FCA Griffin Stone Moscrop & Co Chartered Accountants 21-27 Lamb's Conduit Street London WC1N 3GS

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Docusign Envelope ID: 23133A6D-24D5-4A4C-B9D5-575699EB67D0

THE OGLE CHRISTIAN TRUST

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024

Note
Income from:
Investments
2
Other income
3
Total income
Expenditure on:
Raising funds
4
Charitable activities
Total expenditure
Net expenditure before net gains on investments
Net gains on investments
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward
Unrestricted
funds
2024
£
50,504
9,150
59,654
10,243
171,870
182,113
(122,459)
139,057
16,598
2,013,469
2,030,067
Total
funds
2024
£
50,504
9,150
59,654
10,243
171,870
182,113
(122,459)
139,057
16,598
2,013,469
2,030,067
Total
funds
2023
£
54,960
8,740
63,700
9,290
183,835
193,125
(129,425)
133,248
3,823
2,009,646
2,013,469

The Statement of financial activities includes all gains and losses recognised in the year.

The notes on pages 8 to 15 form part of these financial statements.

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Docusign Envelope ID: 23133A6D-24D5-4A4C-B9D5-575699EB67D0

THE OGLE CHRISTIAN TRUST

BALANCE SHEET AS AT 31 DECEMBER 2024

2024 2024 2023
Note £ £
Fixed assets
Investments 8 2,008,072 2,004,987
2,008,072 2,004,987
Current assets
Cash at bank and in hand 24,755 11,242
24,755 11,242
Creditors: amounts falling due within one
year 9 (2,760) (2,760)
Net current assets 21,995 8,482
Total assets less current liabilities 2,030,067 2,013,469
Net assets 2,030,067 2,013,469
Total net assets 2,030,067 2,013,469
Charity funds
Restricted funds 10 - -
Unrestricted funds 10 2,030,067 2,013,469
Total funds 2,030,067 2,013,469

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

R Goodenough (Chair of Trustees) Date: 14 May 2025

The notes on pages 8 to 15 form part of these financial statements.

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Docusign Envelope ID: 23133A6D-24D5-4A4C-B9D5-575699EB67D0

THE OGLE CHRISTIAN TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

1. Accounting policies

1.1 Basis of preparation of financial statements

The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

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 1 January 2019), the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.

The Ogle Christian Trust constitutes a public benefit entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the charity, and are rounded to the nearest £1.

1.2 Income

All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

1.3 Expenditure

Expenditure is recognised 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources.

Expenditure on raising funds represents investment management fees charged against the investment portfolio which is being managed on a discretionary basis.

Expenditure is recognised on an accruals 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.

Support costs are those costs incurred directly in support of expenditure on the objects of the charity. Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.

Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.

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Docusign Envelope ID: 23133A6D-24D5-4A4C-B9D5-575699EB67D0

THE OGLE CHRISTIAN TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

1. Accounting policies (continued)

1.3 Expenditure (continued)

All expenditure is inclusive of irrecoverable VAT.

1.4 Investments

Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Statement of financial activities.

1.5 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt.

1.6 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.

1.7 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

2. Investment income

Unrestricted Total
funds funds
2024 2024
£ £
Investment income 50,504 50,504

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Docusign Envelope ID: 23133A6D-24D5-4A4C-B9D5-575699EB67D0

THE OGLE CHRISTIAN TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

2. Investment income (continued)

Unrestricted Total
funds funds
2023 2023
£ £
Investment income 54,960 54,960
3.
Other incoming resources
Royalties
Royalties
Unrestricted
funds
2024
£
9,150
Unrestricted
funds
2023
£
8,740
Total
funds
2024
£
9,150
Total
funds
2023
£
8,740

4. Investment management costs

Unrestricted Total
funds funds
2024 2024
£ £
Investment management fees 10,243 10,243

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THE OGLE CHRISTIAN TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

4. Investment management costs (continued)

Unrestricted Total
funds funds
2023 2023
£ £
Investment management fees 9,290 9,290

5. Analysis of expenditure by activities

Grant making and associated administration
Grant making and associated administration
Grant
funding of
activities
2024
£
167,100
Grant
funding of
activities
2023
£
178,900
Support
costs
2024
£
4,770
Support
costs
2023
£
4,935
Total
funds
2024
£
171,870
Total
funds
2023
£
183,835

Analysis of support costs

Secretarial and meeting expenses
Secretary's honorarium
Independent examiner's fee
Bank Charges
Total
funds
2024
£
640
1,250
2,760
120
4,770
Total
funds
2023
£
768
1,250
2,820
97
4,935

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Docusign Envelope ID: 23133A6D-24D5-4A4C-B9D5-575699EB67D0

THE OGLE CHRISTIAN TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

6. Analysis of grants

Grant making and associated administration
Grant making and associated administration
Grants to
Institutions
2024
£
154,100
Grants to
Institutions
2023
£
165,000
Grants to
Individuals
2024
£
13,000
Grants to
Individuals
2023
£
13,900
Total
funds
2024
£
167,100
Total
funds
2023
£
178,900

The charity has made the following material grants to institutions during the year:

2024 2023
£ £
Name of institution
3P Ministries 9,000 3,000
ACET UK 3,000 -
AGST Alliance 4,500 4,500
Al Massira Trust - 5,000
ANCC 6,000 6,000
Arukah Network 4,000 4,000
Arab Vision - 3,000
Balkan Protestant Research Trust 6,500 8,000
Caring for Life 3,000 -
CLAAS 3,000 3,000
Elam Ministries 3,000 3,000
Exeter ICE Chartiable Trust 3,000 3,000
France Mission Trust 2,000 2,000
Freedom Network International 3,600 -
Friends International Ministries 4,000 -
Fusion UK - 3,000
Global Care 3,000 -
Hope into Action 4,000 -
IFES 4,000 4,000
iNet Trust 6,000 5,500

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Docusign Envelope ID: 23133A6D-24D5-4A4C-B9D5-575699EB67D0

THE OGLE CHRISTIAN TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

Innovista
Kingham Hill Trust
Langham Partnership
Mahabba Network
MEM
New Creations
OM UK
OMF UK
Osacr
PAK7 US Inc
Welcome Churches
Savannah Education Trust
Solomon Academic Trust
Starfish Asia
Stand by me
SWYM
Tearfund
Thane Trust
The Cinnamon Network
UCCF
Aggregate amounts less than £2,000
6,000
4,000
3,000
3,000
-
4,000
16,000
3,000
2,000
5,000
-
5,000
5,000
7,000
-
5,000
-
12,500
-
-
2,000
154,100
3,000
4,000
3,000
3,000
5,000
-
22,000
-
-
-
3,000
-
5,000
4,000
3,000
10,000
5,000
30,000
3,000
2,000
3,000
165,000

7. Trustees' remuneration and expenses

During the year, with the exception of the Secretary's honorarium of £1,250 (2023 - £1,250) no trustees received any remuneration or other benefits (2023 - £nil).

During the year ended 31 December 2024, administration expenses totalling £440 were reimbursed or paid directly to 3 trustees (2023 - £568 to 3 trustees).

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Docusign Envelope ID: 23133A6D-24D5-4A4C-B9D5-575699EB67D0

THE OGLE CHRISTIAN TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

8. Fixed asset investments

Cost or valuation
At 1 January 2024
Disposals
Revaluations
Investment income retained within portfolio
Management fees deducted
At 31 December 2024
Net book value
At 31 December 2024
At 31 December 2023
Listed
investments
£
2,004,987
(137,500)
139,057
11,771
(10,243)
2,008,072
2,008,072
2,004,987

Investments at the year-end are comprised of:

COIF Charities Ethical Investment Fund 230,942.03 (2023 - 269,159.62) income units valued at £714,211.

EdenTree Investment Management - Responsible & Sustainable Managed Income fund 379,673.712 units valued at £411,566 (2023 - 379,673.712 Class A income units valued at £411,566). Evelyn Partners Managed Fund valued at £882,295 (2023 - £783,251).

9. Creditors: amounts falling due within one year

2024 2023
£ £
Accruals and deferred income 2,760 2,760

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Docusign Envelope ID: 23133A6D-24D5-4A4C-B9D5-575699EB67D0

THE OGLE CHRISTIAN TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

10. Statement of funds

Statement of funds - current year

Balance at
Balance at 1 31
January Transfers Gains/ December
2024 Income Expenditure in/(out) (Losses) 2024
£ £ £ £ £ £
Designated
funds
Capital fund 1,977,638 11,771 (10,243) (137,500) 139,057 1,980,723
General funds
Revenue 35,831 47,883 (171,870) 137,500 - 49,344
Total
Unrestricted
funds 2,013,469 59,654 (182,113) - 139,057 2,030,067
Statement of funds - prior year
Balance at
Balance at 31
1 January Transfers Gains/ December
2023 Income Expenditure in/(out) (Losses) 2023
£ £ £ £ £ £
Designated
funds
Capital fund 1,972,846 10,834 (9,290) (130,000) 133,248 1,977,638
General funds
Revenue 36,800 52,866 (183,835) 130,000 - 35,831
Total
Unrestricted
funds 2,009,646 63,700 (193,125) - 133,248 2,013,469

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