The Pauline Meetings FINANCIAL STATEMENTS for the year ended 31 January 2024 Clwity Registration No. 1065444
The Pauline Meetings Report ofthe TruStS For the y&qr ended 31 January 2024 The Pauline Medingswd5 forn]alty established by aDeclaration ofTrust mthon 4MaTrh 1997and registered with the Charity Commi&qion oo 3 November 1997 with the rcgistration nurnber 1065444. Objects The primary obj¢¢t of the Tn is Yo advance the Christian faith arnong young peopl¢ g¢n¢rally anl &8 long as PO&8ibl4 the pupils and fornier puptls of St Paul's SCIL Barn¢s in particular". History Th¢ Pauline Meetings originally 8et up in I9. with th¢ same objectives as those now fornially established in the Declaration of TrusL Over the1&8t one hundred and nineteen years many thousands of boys mainly but not exclusively connected with StPaul's S¢hool. havc dis(xlvertOThavegm iotheClJri&ian faiththroush the wo of the Meetin8s and a substantial number have gone on to enter the thristian ministy. Meetlng the Objectfv In 2023-24 the charity again held SUfUl h(K parties at E&8ter and in the summer. Smaller events - symposium, a confercn¢c and a boat trip- have been arTan8ed for spe¢ific 8TOUPS. Sunday worship meetings and discts&sion groups have also continued. All activities have been organized by adojicakd team ofvolunteers and the trustees wish to place on recLYd their appreciation of their work and their wmmilmenL We continue to work closely with the Chaplain and the leadership team of St P8uI's Sch1 (SPS}. The h]Is keen to ensure thaL since the name ofthe Pauline Meetings makes our4ssociation with SPSclear. weapply the s8me high level ofattention to safeguarding&8 SPS does in its opcration. Ourpolicies and the way in which we apply them have been fully reviewed and approved by the s¢hLK)I. SPS stsff attend our house parties. Trustees The ttustees during the year were: John Howard {Chair) Richard Holmen Peter Mothersill Oliver Paish Rcvd Robert Stanier Giles Tibbitts appointed 27th August 2024 New trustees are apInted from SUPFK)rtus of the charity by a resolution of th¢ exlin8 trustees. Profegslonal advlwrs The charity's bankers are HSBC BanK 117 Great Portland StrecL London Wl W 8QJ. Funds are also held on deposit at COIF Charitics Dwit A¢counL Senar Holl 85 Queen Victoria StreeL London EC4V 4ET. The charity's investment funds are divided between theltieS InvestmentFund forChaTitia8 ('Charifund'),which is managed by M&G Investment4 and th¢ Charishar¢ Toba0 R¢3tricted Cmunon Invesfment Fund ('Charishar¢') which is man88ed by ML Black Rock Invcskncnt Mana8ers. The independent examiner of the charity's acLX)unts is Tirnothy Hughes ACA. Insur8n¢c coverisarran8¢d by E¢¢lcsi&stical Insurance GroupofBeaufortHou* Bn]Ck Roa4 GIoU$terGLl ijz. Adminlstr4tlve xddress The administration of the ch8rity is caryied out by Richard Holman at i i Genoa Avenu< Putney, London SW15 6DY. Page I
The Pauline Meetings RetK)rt of the Trustees For l.ear ended JI Januar%" 2024 Flnaneial posltio In the year to 31 2024 the dwity's inc(me to £7&689 (2023: £97.150X incIlIng £4.713 (20b-.. £5J3J) irto tsricted fim there was a sUlUS for the year of £18,918 (2023: Surplus £17272) before unrealised investment loss¢s of £3J73 12023: losse5 of £630)- Net (Mrtgoing reS(xrS from the restricted funds anjounted £856 (2023: nd incl¢ £4.0681 5ets a il J•w 2024 fo £163m c2) £14&54iA ofThthicb £) ?1? (.?.. £4.068) was - the restricted funds. The clwity's inveslmats thowyd in vahr by i.8% the yw {WJ: fell by 0.7Y.). The Inmees are long" provide a steady and regular income and to protect the capitsl value of the portfolio. Since £42.307 (25.8 % of the charity's &8sets) was held in c&sh at 31 January 2024 (2023.. 24.40/0) there should be no need to realise any All the WLvk of dwiTh 15 cwied om mpid i•si5 kn the Cs1(r th it is N>5511)le to Legacy In ?021 the truses WaE lvised that of the voluwea le•krs played a PIV1 role in the clwrity s tivilies fiy mLYe sixty years Basil MO had left his Se in Bwnes to the Pauline Meetings in his WilL to CeIn cThmIi ll]g meL The ofthe w(yem., was L?Jm. In June 20? l Mr Moss's executLW5 trSferred the benefrt of the rentsl Inc0Th frthn the h(rt. and a150 fe5F511IIty for all the costs associated with it, io the Charity and the attached accounts reflect that income and expenditurc. The executors oEtsifted 0be in Fery 2021 bw due issues relaing kn (thr in the ¢Se thry had not been able to transfer legal OYryT5hip of the ho io the chrity by 31" January 2024. HaTrce the prow is of the grant of probate and the transfer of the propety to the charity, the trustees agreed to make a short-term to the estate. The loan remained outstanding at 31" January 2024. Lwi it was fully ld in November 2024. The CThNliiions attxld to the tequest of the h(xtse se ¢lPIeX and the are in discussion with lawyers and tsioirt resxknl legax which is also a clwiTh". 10 w(xk L5t M7%" of meeting Mr Moss's wis1. Reserves Policy The ITUStees will utllize the charity's reseTV¢S as necessary in order to meet its objectives and maintsin its tiviiie& If Te5crvts fall below the trfal am(xmt of the (kficit fv the weV1(x thrtt yedts the trustees will The trustees consider the main ar of risk to be: - the charity has estsblished a child prirtection l1¢y IK5ed on criteria by the Church of Englatml aTMI all those involved in the leth5hip of ]vilieS have been knowi to the senior sthtTfor •t l¢as( Financial _ the trustees ensure that adequate insurance is in place to cover claims that might be made in relation to accidents or other adverse incidetts at evetlts Tun ty the Pauline Meesin Approved ty ihe Trustees andsi edon rheir behabY (John HmTr7rd. Cknmrn) Page 2
INDEPEIYDENT EXAMINER% REPORT TO THE COUNCIL OF THE PAULINE MEETINGS I report to the tn on my examination of the of the above charity for the year ended 31 January 2024, which are set out on pages 4 to 6. Respon$Ability and basb ofindepeDdeDt examiner's report As the ¢harAtys trustee4 you arc responsil)le for the preparation of the accounts in accordance with the requirements of the Chartties Act 2011 (*h¢ Acr). I report in respect of my examination of the charity's w)unts carried out under se¢tion 145 of the 2011 Act and in wing out my examinatio I have followed all the applicable Directions given by the Charity Commission under section 145{5Xb) of the ACL Independent examiner's ststement I have completed my examination. I confirn] that no material matters have come to my atttIOn in connection with the examination which gives me cause to believe that in, any rnatcrial respect: the accounting records were not kept in accordance with section J 30 of the Charities ACL or the accounts did not accord with the a(xountin8 records; or the accounts did not comply with th¢ applicable requIremts wncerning the fomi and content of accounts Set out in the Charities (Accounts and ReFK)rts) Regulations 2(K)8 otherthan anyrequirement that the aOUnts give a'trueand fair. view which is nota matter¢on$idered as part ofan independent examination. I have no conccrns and have come tt¢r no other mattery in connection with the examination to which attention should b¢ drawn in this report ID onlerto aproper detsndIn8 ofthe accountsto bereached. Timothy Hugh¢s ACA Chartered Ac¢ountant 37 Sutherland Grove London SWI 8 5QP Izl tsi I115 Page 3
The Pauline Meetings STATEMENf OF FINANCIAL AcfIviTY for the year ended 31 January 2024 2024 2023 Not¢s unrestri Restricted Total Unrestricted Restrict¢d Totsl JNCOAIING RESOURCES Charitable A¢tivities Donations Investment Income Rental income 32.599 1.738 4,779 32.599 6,451 4.779 51.784 1.173 4.176 51,784 6,706 4,176 4.713 5,533 73 76 RESOURCES E¥PENDED Charitable Activities Administration Propety expenses 39218 677 07 5J69 44.787 677 61,728 667 1.465 63,193 667 14 NETINCOAIJNG/{E¥PENDED) RESOURCES 19,774 (856) 18.918 13204 4,068 17,272 UnrealA8ed Gains / (Losscs) on Investments (3573) (3.573) (630) (630) NKfMOVEMENTINFUNDS 16201 (856) 15.345 12,574 4.068 16.642 Balance at l Fcbnwy 144,475 4.068 14&543 131,SYII 131,901 Balan¢e at 31 January 160,676 3,212 163.888 144,475 4,068 148,543 Page 4
The Pauline Meetings BALANCE SHEET At 31 January 2024 2024 2023 curreA$Sets.' Cash 8t Bank. On dep)SiE 95.1 26.749 15J58 1233 Net Curnent Assets 14 72.455 NET ASSETS 53,537 163.888 148.543 Representing". 160.676 ia12 144.475 16J,888 148.543 Approved by and signed on behalf of the Tntee9 on i oth Januery 2025 John Howard Richard Holman Page 5
The Pauline Meetings NOTES TO THE ACCOUNrs For the year ended 31 January 2024 ACCOUThG POLICIES A¢couffjingconvethion The financial statements have been prepared under the historical CL LM)nvention and have been drawn up i accoTdancc with the Statement of Recomended Pr&tice for rnting by charities. Income Income is reeogni7£d on the egrlier of the date of re¢eipt or that on wbi¢h the 18¢ amount is kno. provid¢d the charity is certain to reL%ive the InMe in questio xpenditure Expenditure is recogniztd on the wuals basi CHARITABLE AcfiviTIES These mainly comprise the house parties and othff activities referTcd to in the rqx)rt of the trustee5. QUOTED INVEs1MEs co. At l Febnwy 2023 and 31 January 2024 Markct value: At l Fcbruary 2023 Unr¢alized 8ain l (loss) l on Tevaluation 2024 2023 60,000 95,0(K6 (3.573) 95,636 (630) At 313anu8ry 2024 91,433 95,Crf)6 DEBTORS AND PREPAYMENTS 2024 2023 Pmpcrty income and expenses Tax r¢coveri&8 Fe for a¢tiviti¢s Prepaid expen8¢S Other debtor 193 228 4,977 771 26,391 2J12 2,631 570 26,391 32.560 31,904 The 'Other debtor. is a paymenl made by the charity on behalf of the executors of B&sil Mo&$ (8¢¢ the Tru&ees' Rwrt). This104n w&8 rqmid in full on 7th Novanber 2024. CREDITORS 2024 2023 DefenEd income 2,412 11,391 3,155 2,412 14,546 RESTRICTED FUNDS Tha8e 8re donations received by the thwity for pAyment to oth¢r charities. Page O