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2020-12-31-accounts

Independent examiner's report on the accounts

Section A Independent Examiner’s Report

Report to the trustees/ members of

St Paul’s German Evangelical Reformed Church Trust

On accounts for the year 31 December 2020 Charity no 1073905 ended (if any) Set out on pages 1 - 11

I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended 31/12/2020

I report in respect of my examination of the Trust’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 Act.

Independent I have completed my examination. I confirm that no material matters have examiner's statement come to my attention (other than that disclosed below *) in connection with the examination which gives me cause to believe that in, any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Signed: Date: 13 September 2021 Name: Laura Ambrose Relevant professional Chartered Accountant qualification(s) or body (if any): Address: Haslers, Old Station Road, Loughton Essex IG10 4PL

1

October 2018

IER

Section B Disclosure

Only complete if the examiner needs to highlight matters of concern (see CC32, Independent examination of charity accounts: directions and guidance for examiners).

Give here brief details of N/A any items that the examiner wishes to disclose .

2

October 2018

IER

Trustees’ Annual Report for the period

From 1 January 2020 to 31 December 2020

Charity name: St Paul’s German Evangelical Reformed Church trust Charity registration number: 1073905

Objectives and Activities

SORP reference
Summary of the purposes of
the charity as set out in its
governing document		 Para 1.17 The object of the charity is the
advancement of religion by promoting
religious and other charitable work in the
German speaking protestant community in
Greater London in accordance with the
traditions of St Paul’s German Evangelical
Reformed Church.
Summary of the main
activities in relation to those
purposes for the public
benefit, in particular, the
activities, projects or
services identified in the
accounts.		 Para 1.17 and
1.19		 The charity continues to support the work
of the German churches in London,
particularly, but not exclusively, through
provision of grants to finance the cost of
Pastoral Assistants in the parochial districts
of London – East and London – West. It
also provides grants to the German Choir
in London, which performs sacred music in
London’s German churches and other
concert venues.
Grants are also made to charities
supporting the homeless and adults with
learning difficulties.
At the trustees’ meeting held on 4th
February 2020 the ongoing grants in
furtherance of the activities detailed above
were discussed and agreed.
The grant application process was to some
extent disrupted during the year by the
impact of Covid 19 and the Trustees expect
that certain regular requests which would
normally have arisen in 2020 will be
deferred to 2021. The trustees were able to
meet in person once during the year but
have endeavoured to ensure that
beneficiaries of the Trust have not suffered
as a result of Covid disruptions.
A grant of £300,000 was made to the
German YMCA in London to support it
through a period of acute financial difficulty
resulting from the pandemic and to ensure
its continued liquidity. In making this
substantial grant the Trustees were mindful
of the historic connection between the St
Paul’s Church and the German YMCA, and
the many shared goals of the two
institutions.
Statement confirming
whether the trustees have
had regard to the guidance
issued by the Charity
Commission on public
benefit		 Para 1.18 The Trustees have considered the Public
Benefit requirement and believe that the
charity’s current activities are in line with
Charity Commission guidelines.

Additional information (optional) You may choose to include further statements where relevant about:

SORP reference Para 1.38 Policy on grant making Para 1.38 Policy on social investment including program related investment Para 1.38 Contribution made by volunteers Other

Achievements and Performance

SORP reference
Summary of the main
achievements of the charity,
identifying the difference the
charity’s work has made to
the circumstances of its
beneficiaries and any wider
benefits to society as a
whole.		 Para 1.20 The charity continues to support the work
of the German churches in the London,
particularly, but not exclusively, through the
provision of grants to finance the cost of
Pastoral Assistants in the parochial districts
of London – East and London- West. It also
provides grants to the German Choir in
London, which performs sacred music in
London’s German churches and other
concert venues.
Grants are also made to charities
supporting the homeless and adults with
learning difficulties.
A grant of £2,500 was made in response to
the Emergency Appeal from the Historic
Chapels Trust, to be applied for the upkeep
of St George’s German Lutheran Church in
the City of London (which is now the care
of the Historic Chapels Trust) and which
had originally taken in the remaining
congregation of St Pauls after the
destruction of the St Paul’s Church building
during the Second World War.
Ongoing projects:
A grant of £10,000 to Glass Door, a
London Homeless charity sponsored by
and supported by local churches.
A grant of £10,000 to Borderline, a charity
supporting homeless with a Scottish Origin.
In making this grant the Trustees were
conscious of the historical support given to
the fledgling St Paul’s Church by the
Church of Scotland.
A grant of £8,832 to support two volunteers
at Q.V.S.R, a retirement home for
international seafarers in East London.
In total the grants made were £331,332.
The trust will continue to make grants along
similar lines in the future and is considering
how it might broaden the scope of its
donations. The continuing level of dividend

income and the level of the charity’s reserves will enable this to be achieved despite a continuing low level of interest earned on bank deposits.

Additional information (optional) You may choose to include further statements where relevant about:

Achievements against
objectives set		 Para 1.41
Performance of fundraising
activities against objectives
set		 Para 1.41
Investment performance
against objectives		 Para 1.41 Despite the initial adverse impact of the
pandemic on investment markets, the
Trustees were pleased to note the overall
positive performance of our investment
funds over the year and have been
reinforced in their faith in the value of using
specialist charity fund managers.
Other

Financial Review

Financial Review
Review of the charity’s
financial position at the end
of the period		 Para 1.21 The charity has cash reserves of £58,748
and Investment Assets of £3,963,629.
Statement explaining the
policy for holding reserves
stating why they are held		 Para 1.22 The trustees consider the investment
assets to be in the nature of an endowment
fund to fund the continuing activities of the
charity whilst maintaining the real value of
the original endowment.
The cash reserves of £60,046 are
considered sufficient but not excessive to
meet the immediate needs of the charity. In
reaching this view, the trustees are mindful
of the greater calls on the trust’s funds as a
result of the German churches becoming
dependant on their own resources and no
longer subsidised from Germany.
Amount of reserves held Para 1.22 The charity has cash reserves of £58,748
and Investment Assets of £3,963,629.
Reasons for holding zero
reserves		 Para 1.22 The charity does not hold zero reserves,
see section above
Details of fund materially in
deficit		 Para 1.24 No funds are in deficit
Explanation of any
uncertainties about the
charity continuing as a going
concern		 Para 1.23 No such concerns are noted
Additional information (optional)
You may choose to include further statements		 Additional information (optional)
You may choose to include further statements		 where relevant about:
The charity’s principal
sources of funds (including
any fundraising)		 Para 1.47 The investment objectives of the charity are
to achieve balanced growth of capital and
income. The trustees regularly review the
performance of the charity’s investments
which remain invested in COIF Charity
Funds and in Schroder Charity Multi-Asset
Units. The trustees believe these funds to
be appropriate for the purposes of the trust.
The market value of the charity’s
investments at 31 December 2020 was
£3,963,628.72 (31 December
2019:£3,945,115). Investment income
dropped slightly during the year from
£36,989 in 2019 to £ 35,804 in 2020.
Investment policy and
objectives including any
social investment policy
adopted		 Para 1.46
A description of the principal
risks facing the charity		 Para 1.46
Other Since the Protestant Church in Germany
ceased subsidising the German Churches
in London there has been a continual
demand on the Trust for funding, which it
has sought to meet where possible and
appropriate.

The Trustees are actively exploring other areas of support for the work of the Church in London which would accord with the charitable spirit and traditions of the original St Paul’s German Church congregations. Of particular interest is the potential for working with churches supporting the homeless in London and suitable new projects are being sought.

Structure, Governance and Management

Description of charity’s
trusts:
Type of governing document
Para 1.25		 Charity Commission Scheme sealed 2 July
1998
How is the charity
constituted?		 Para 1.25 Charitable Trust
Trustee selection methods
including details of any
constitutional provisions e.g.
election to post or name of
any person or body entitled
to appoint one or more
trustees		 Para 1.25 Individual trustees are invited to propose
names of suitable potential trustees for
approval by the trustees

Additional information (optional) You may choose to include further statements where relevant about:
Policies and procedures
adopted for the induction
and training of trustees		 Para 1.51
The charity’s organisational
structure and any wider
network with which the
charity works		 Para 1.51
Relationship with any
related parties		 Para 1.51
Other The trustees regularly review the risks to
which the charity is exposed and consider
that the only major risk faced by the charity
are those to which the investment portfolio
is exposed, namely maintenance of capital
values and income levels. In order to
mitigate these risks, the charity’s
investment portfolio is managed by two
well-known firms of investment managers
specialising in investment for charities and
the trustees monitor their performance
regularly.

Reference and Administrative details

Charity name St Paul’s German Evangelical Reformed Church Trust
Other name the charity uses
Registered charity number 1073905
Charity’s principal address The German YMCA
35 Craven Terrace
London
W2 3EL

Names of the charity trustees who manage the charity

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 Trustee name Office (if any) Office (if any) Dates acted if not for whole
**year **		 Dates acted if not for whole
**year **		 Name of person (or body) entitled
to appoint trustee (ifany)
Mr Dieter Losse Chair
Mr Frank Taylor Resigned – 18/09/2020
Rev Peter
Wintgens
Mr AntonyRatcliff
Mr Uwe Maynard Hon Treasurer
Mrs Katherine
Payne
Corporate trustees–names of the directors at the date the report was approved
Director name
N/A
Director name
N/A

Name of trustees holding title to property belonging to the charity

Trustee name Dates acted if not for whole year
N/A
Funds held as custodian trustees on behalf of others
Description of the assets
held in this capacity		 N/A
Name and objects of the
charity on whose behalf the
assets are held and how this
falls within the custodian
charity’s objects		 N/A
Details of arrangements for
safe custody and
segregation of such assets
from the charity’s own
assets		 N/A

Additional information (optional)

Names and addresses of advisers (Optional information)

Names and addresses of advisers (Optional information) Names and addresses of advisers (Optional information) Names and addresses of advisers (Optional information)
Type of
adviser
Name
Address
Investment
managers		 CCLA Investment
Management		 Senator House, 85 Queen Victoria Street, London, EC4V
4ET
Investment
managers		 Schroder Unit Trusts
Limited		 1 London Wall Place, London, EC2Y 5AU
Principal
Bankers		 Barclays Bank PLC 128 Moorgate, London, EC2M 6SX

Name of chief executive or names of senior staff members (Optional information)

Exemptions from disclosure

Reason for non-disclosure of key personnel details

N/A

Other optional information

N/A

Declarations The trustees declare Ihat they havp approved the trustees, report above. Signed on behalf of the charity's trustees Signaturelsl Full nainelsl Mst f -1¢ i) I ri fl tvi Position le9 Secretary, Chair, elcl,: Llthifvp1fr , r&Lfwf Ib Date oq aa

St Paul's German Evangelical Reformed Church Trust St Paul's German Evangelical Reformed Church Trust 1073905
Receipts andpayments accounts CC16a
01-Jan-20
For the period
from		 To 31-Dec-20
Section A Receipts and payments Section A Receipts and payments
A1 Receipts Unrestricted
funds
to the nearest
£
-
35,804
90
-
-
-
-
35,894
-
300,000
300,000
335,894
-
331,332
600
-
-
-
-
-
-
331,932
-
-
-
331,932
3,962
-
54,786
58,748		 Restricted
funds
to the nearest £
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Endowment
funds
to the nearest £
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Total funds
to the nearest £
-
35,804
90
-
-
-
-
-
35,894
-
300,000
300,000
335,894
-
331,332
600
-
-
-
-
-
-
331,932
-
-
-
331,932

3,962		 Last year
to the nearest £
- -
Investment Income 35,804 36,989
Bank interest 90 216
-
- -
- -
- -
- -
Sub total(Gross income for
AR)		 35,894 37,205
A2 Asset and investment sales,
(see table).
-
Transfer of asset to cash 300,000 -
Sub total 300,000 -
Total receipts
A3 Payments
37,205
- -
Donations and grants to further charitable
objectives		 331,332 62,332
Accountancyfees 600 600
- -
- -
- -
- -
- -
- -
**Sub total ** 331,932 62,932
A4 Asset and investment
purchases, (see table)
-
-
**Sub total ** - -
Total payments
Net of receipts/(payments)
A5 Transfers between funds
A6 Cash funds last year end
Cash funds this year end
62,932
3,962 - -
3,962		 - 25,727
- - - - -
54,786 - - 54,786 80,513
58,748 - - 58,748 54,786

CCXX R1 accounts (SS)

08/09/2021

1

Section B Statement of assets and Ilabllltles at the end of Ihe perlod Unrp&*rirlvd RAslrir.Ipd Fndowmonl flind8 B1 Cash fLinds 4J,4gB Tolal casl? lunds 58,1418 Unrostrirte funds RestriGiod fuiid Eiidowment 82 Other rnonetary assets Ctsst ItsPiionJll 83 Investm¢nl assets ¥95.247 2.073.847 793.46fj 11fj.604 84 Assets retained for the Charity's own use. r-und lo whlcli B5 Liabilltie5 IEk% hwtL>J L(kSSt )< . l< n I IJKIJ 13.4_1. 41 13.Oq,¥l.I ¥'-XX ￿-) ar.r.c)iiiilx (Kbl 0¥,.09120?1