CHARITY COMMISSION FOR ENGLAND AND WALES Trustees, Annual Report for the period From 1 January 2023 To 31 December 2023 Charlty name: St Paul's Gèrnian Evangellcal Refornied Church Trust Charlty registratlon number: 1073905 Objectives and Activities Summary ofthe purposes of th8 charlty as set out in its gov8rning document Para1.17 The object of the charity is the advancement of religlon by promoting religk)us and other charitable work in the German speaking protestant community in Greater London in accordance with the Iraditions of St Paul's German Evangelical Reformed Church Dur5ng the year, grants wer8 not made to the Gennan church's parochial districts of London East and West or the German Choir London Summary of the main activities in relatlon to those purposes for the public benefrt, in particular.'the activities, projects or seryices Identified in the accounts. Para 1.17 1.19 Grants were made to charities supportlng the homeless and adults with leaming difficulties. The trustees brne aware that, due.to the ongoing consequ8nces of Covid, the Gemian YMCA In London was unable to make Its regular small grants to local organisations. The trustees agreed to make a grant of £10.000 to the Gennan YMCA th £5,000 being paid in 2022 and another £5,000 the current year. The allocation of this grant to third parties is at the discretion of the Get7nan YMCA'S Board of Management. Statsment confim)ing whether the trustees hav8 had regard to the guidance Issued by the Charity Commission on public benefrt Para 1.18 The trustees have consKlered the Public Benafrt requirement and believe that the charity's current activities are in line with Charity Commlssion guidelines. Page I
Addltlonal Infonnatlon (optional) You ma choose to indude further statements where relevant about: SORP r8feroF Para 1.38 Policy on grant making Pera 1.38 Policy on social investment induding program related investment Para 1.3B Contribution made by volunteers 0th8r Achievements and Performance SORP ref¢rnn¢e During the y8ar, 'grants were not made to the Gennan church's parochlal districts of London East and West or the Gemian Choir London Summary of the main achievements of the charity, identifying the drfference the Gharity's work has made to the circumstances of its beneficiaries and any wider benefits to society as a whole. PpTr 1.20 Grants are made to charities supporting the homeless. 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 Borderlin8, a charity supporting homeless with a Scottlsh Origin. In making this grant the Trustees were . conscious of the historical support given to the fledging 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. A grant of £5,000 was made to the German YMCA in London to enable it to continue Page 2
providing making small grants to local organisations. A grant of £10.000 was made to Th8 Connection at St Martin-itFthe-fields in London to support their ongoing work with the homeless. In total the grants made were £43,832. The trust will continue to make grants along similar lines in the future and is considering how it might broaden the we of its donations. The continuing level Of dividend income and the level of the charity's reserves will enable Ihis to be achieved despite a continuing low level of interest eamed on bank deposits. Additional Infomiatlon (optlonal) You ma choose to include fvrther statements where relevant about: Achievements against objectives set Para 1.41 Performance of fundraising activities against objectives Pard 1.41 Despite the Inlllal adverse impact of the pandemic on investment markets, the Trustees were pleased to note the overall positive perfoanCe of our investment fijnds over the year and have been reinforced in their faith in the value of using specialist charity fund managers. The Trustees took the dec¥sion to transfer units held in the COIF CIF Accumulation Fund to the COIF CIF Income Fund to increase its investment income in the future. Investment performance against objectlves Para 1.41 Other Page 3
Financial Review Review of the charity's financial position at the end of the eriod ststement explaining the policy for holding reserves stating why they are held Para 121 The charity has cash reserves of £75,095 and Investment Assets of £4.564,225. Pora 1.22 The trustees consider the investment assets to be in the nature of an endowment fvnd lo fvnd Ihe continuing activiti8s of the charity whilst maintaining the real value of the original endowment. The cash reserves of £75,095 are considered sufficient but not excessive to meet the immediate needs of the charity. In r&hIng this view, the trustees are mindful of the greater calls on the trusvs funds as a resutt of the Gemian churches becoming dependant on their own resources and no lon er subsidised from Gennan The charity has Gash reserves of £75,095 and Investrn8nt Assets of £4 564,225. The charity does not hold zero reserves, see section above No funds are in deficit Amount of reserves held Par? 1.22 Reasons for holding zero reserves Details of fvnd matertally in def1t Explanation of any uncertainties about the charity continuing as a going concern Para 1.22 P8ra 1.24 Para 1.23 No such cDncerns are notad Addltlonal infonnatlon (optlonal) You ma choose to indude further statements where relevant about: The investrnent objectives of the charity are to achleve 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 Multl-Asset Units. The trustees belleve these funds to be appropriate for the purposes of the trust. The charity's principal sources of funds (including any fundraising) Parn 1.47 The market value of the charity's investments at 31 Dernber 2023 was £4,564,225 {31 December 2022: £4,115,172). Investment income increased during the year from £33,437 in 2022 to £56,726 in 2Q23. Investment policy and objectives induding any social investment pollcy adopted Para 1.46 A description of the principal risks facing the charity Par8 1.46 Since the Protestant Church in Germany ceased subsidising the Gennan Churches in London there has been a continual demand on the Trust for fundin whlch it Other Page 4
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 Gennan Church congregations. Of particular interest is the potential for working with churches supporting the homeless in London and suitable new 'ecls are bein sou ht. Structure, Governance and Management Description of charis trusts: Type of governing document (trust deed. royal chan.er) Parn 1.25 Charity Commission Scheme sealed 2 July 1998. How is the charity constituted7 (e.g unincorporated association. Clo} Trustee selection methods including detalls of any constitutional provisions e.g. election to post or name of any person or body entitted to appoint one or more tnjstees Pera 1.25 Charitable Trust. Para 1.25 Individual Trustees are invited to propose names of suitable potential trustees for approval by the trustees. Additional Infomiation (optional) You ma choose to include further statements where relevant about: Policies and procedures adopted for the induction and training of trustees Para 1.51 The tharitys organisatlonal structure and any wlder network with which the charity works Parn 1.51 Relationship with any related parties Para 1.51 Page 5
The tru*ees regularty 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 or(ler to mitigate these risks, the charivs investment portfolio is managed by two wellthnown firms of investment managers specialising in investment for charities and the twstees monitor their perfonnance ularl Other Reference and Administrative details Chari name Othef name the chari uses Re istered charit number Charitys principal address St Paul's German Evan elical Reformed Church Trust 1073905 The Gennan YMCA 35 Cravan Terrace Lon(Jon W2 3EL Names of the charfty trustees who manage tho charlty Dates aGtsd if not for whole ear Trust•• name offi (If any) Name ot person (or body) entitkd to a olnt trusts• Mr Dieter Loss8 Chair Rev Peter Wintgens Mr Uwe Maynard Mrs Katherine Payne Mrs Caroline Quigly Hon Treasurer 10 11 12 13 14 ate trustees - names of the directors at the date the re Dlre¢tor namè rtwasa roved NIA Page 6
Name of trustees holding title to propety belonging to the charity Datos act If not for wholo NIA Funds held as custodian trustees on behalf of others Description of the assets NIA held in this capacity Name and objects of the charity on whose behalf the assets are held and how this falls within the custodian charitls objects NIA Details of arrangements for safe custody and segregation of such assets from the charity's own assets NIA Addltlonal Infomiatlon (optional) Namos and addresses of advlsers (Optlonal Inforniatlon) Typo of Name Address advlser Investment Managers Investment Managers Principal Bankers CCLA Srtrvestrnent Management Schroder Unlt Trusts Limited One Angel Lan?, LorKlon EC4R 3AB 1 London Wall Place, London EC2Y SAU Bardays Bank PLC 1 Churchill Place, London, E14 5HP Name of chlef executive or nam•s of senlor stsff members (Optional information) Exemptions from dlsclosure Reason for nonrfjisclosure of ke rsonnel detslls Page 7
- 11:01 AM Mall. Kai Maynard. Oulloo Other o ional infonnatlon NIA Declarations The trusteos declaro that thoy have approvod tho tru•to9•' report above. Signed on behalf of the chaTity's trustws 8lgnaturo(s} Full name(s),Di8ter Ronald Losse Posllion (og Secretary. I Ch8ir Cbalr. et¢) Uwe Maynard Oate 19 {10{lo¥ Page 8
CHARITY COMMISSION FOR ENGLAND AND WAIES St Paul's Gern)an Evangellcal Reformed Church Trust 10739OS Receipts and payments accounts CC16a For the perlod from 01 January 2023 31 December 2023 To Section A Receipts and payments Unrestricted funds lo th• n•ar•st Restricted funds Endowment funds Total funds Last yoar to thg n•are$t £ to the nearest£ to the n•ar••t £ to the n011 £ A1 Reeelpts Inv8slmènt Incomè Bank int*r•st 56.726 1,355 56,726 1.355 33.437 431 Sub total(Gmss income for AR) A2 Asset and Investment sales, (see table). 58.081 58.081 33,868 Sub total zzzz 58,081 58.081 33.868 A3 Paymènts DonalionB and grants io rther charilable activitie$ 43,832 43.832 33.832 ccountancy and ind8P8ndent examlner 720 720 Sub total 44W2 44.552 A4 Assèt and investmènt urchases. see table Sub total zzzz 44,552 44.SS2 34,492 Net of receipts/(paymentsJ A5 Transfers between funds A6 Cash funds last year end Cash funds this year end 13.529 13,529 624 61,566 75,095 61,566 75,095 62,190 61,S66 Page 9
10119124, 11IJ2A aiE. Uw8 Kal Maynard. Outtook Section B Statement of assets and liabilities at the end of the period Cig fvnd• fundq +fltt B1 Cash hnd• '.4'ls Ur Yll.q¥S 84Au41s rnraln•d for th• ftr+hk BS Liaiillti• PIMNamo o¥ Mo P89• 10
CHARITY COMMISSION FOR ENGLAND AND WALES Independent examiner's report on the accounts Section A Independent Examiner's Report Report to the trusteesl members of Sl Paul's G8nnan Evangallcal refonned Church Trust On accounts for the year ended 31 December 2023 Charity no (if any) 1073905 Set out on pages 1 to10 I report to the trustees on my examination of the accounts of the above charity ('Ihe Trust.) for the year ended 31 Dember 2023. 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 carying out my examination, I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. I have completed my examination. I confirm that no material matters have 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 seclion 130 of the Act or the accounts do not accord with the accounting records Independent examinerfs statement 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 br8Gkets if they do not apply. Signed: Date: 2311012024 Name: Julian Pocock Relevant professional qualification(s) or body (if any): Chartered Accountant Address: 17 The Market Place Devizes Wiltshire SN10 1BA Section B Disclosure Only complete rf the examiner needs to highlight matters of concern (see CC32, Independent examination of charity accounts: directions and guidance for examiners). IER October 2018
Give here brief details of any items that the examiner wishes to disclose. NIA IER 12 October 2018