## **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 - **Responsibilities and** As the charity trustees of the Trust, you are responsible for the preparation **basis of report** of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”). 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: - accounting records were not kept in accordance with section 130 of the Act or - the accounts do not accord with the accounting records 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. * _Please delete the words in the brackets if they do not apply._ **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** |1
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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