## **THE BISHOP OF SOUTHWARK’S LENT FUND**
**ANNUAL REPORT AND FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31[ST] DECEMBER 2024**
**Registered Charity number 1075122**
**THE BISHOP OF SOUTHWARK’S LENT FUND**
## **TRUSTEES’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2024**
The Fund was drawn down out of the Bishop of Southwark’s Lent Call, which was established in 1972, and was formalised by a trust deed dated 1[st] March 1998 and was then registered as a charity on 15[th] April 1999 with the registered number 1075122.
## **Objectives and activities**
The objects of the Fund are to advance religion, in particular the Christian religion, to relieve poverty and to advance education by the provision of financial assistance to projects helping those in need in all parts of the world. It is also the object of the Fund to promote spiritual discipline, especially during Lent, in the Diocese of Southwark. The Trustees are required to stand possessed of the trust fund and to pay or apply the income and any part of the capital at their absolute discretion in furtherance of the objects of the Fund.
The Trustees, who are the bishops of the Diocese of Southwark, aim to meet the objectives of the Fund by annually selecting projects put forward to them for consideration, usually a mixture of projects based overseas and in the Diocese, with a substantial proportion being earmarked ultimately for the four Dioceses in Zimbabwe with which Southwark has Companion Links; information on projects for consideration should be sent to the secretary of the Fund at the address on page 5.
When planning the charity’s activities for the year, the trustees have considered the Charity Commission’s guidance on public benefit and, in particular, the specific guidance on charities for the advancement of religion & education and the relief of poverty. The charity has worked to enable ordinary people in the Link Dioceses in Zimbabwe and Jerusalem and the Middle East to live out their faith by supporting mission and ministry as well as working with local people in those areas to develop projects that combat poverty and support educational development.
## **Activities and achievements in the year**
Income increased during 2024 with donations into the fund increasing from £54,417 in 2023 to £70,091. Grants awarded during the year amounted to £70,000 (2023: £25,000). The projects and funding granted in 2024 are:
|St Martha’s House|£10,000|
|---|---|
|Two hospitals in Jerusalem|£10,000|
|Diocese of Jerusalem and the Middle East|£20,000|
|Anglican Council of Zimbabwe|£20,000|
|Kingston Link Committee|£2,500|
|Woolwich Link Committee|£2,500|
|Southwark Cathedral Link Committee|£2,500|
|Croydon Link Committee|£2,500|
## _Related party transactions_
The Charity’s Trustees are the Bishops in the Anglican Diocese of Southwark. Each Bishop maintains a “Bishop’s Discretionary Fund”, which is available for use in any manner as the holder sees fit. During the accounting period, the Charity made payments totalling £10,740, shown under operation costs for the Jerusalem and Zimbabwe programmes, to the following,:
|Bishop of Southwark|£5,000|
|---|---|
|Bishop of Kingston|£5,000|
|A member of the clergy who works within the South London|£740|
|Church Fund & Southwark Diocesan Board of Finance||
## **Financial review**
## _Financial performance_
The Charity generated a deficit of £10,724 during the year (2023: surplus £36,105). Total reserves have decreased to £45,085 at the year end. The Trustees are content that this level enables the Charity to meet all foreseeable liabilities whilst not being excessive in the context of the present economic uncertainties.
Income increased from £61,205 in 2023 to £70,091 in 2024.
Operating expenses amounted to £10,740. The Trustees are grateful to the South London Church Fund & Southwark Diocesan Board of Finance for continuing to provide administrative support to the Charity free of charge.
Given the transient nature of the funds and the relatively small balances involved, the Trustees agreed to move banking facilities from CAF Bank, an interest-bearing account, to Natwest, a noninterest-bearing account under the custodianship of the South London Church Fund & Southwark Diocesan Board of Finance.
## _Reserves policy_
The Trustees have not considered it necessary to set a formal level of reserves which the Charity is required to maintain. The level of grant expenditure is entirely at the discretion of the Trustees and is set with reference to annual income. The cyclical nature of the Charity’s activities is such that it is generally possible to maintain sufficient funds in the bank to meet any liabilities as they fall due.
3
## _Principal risks and uncertainties_
The Trustees have considered the risks inherent in the operation of the Fund and have taken steps to minimise such risks. As stated in the accounting policies, income is only recognised when it is received, and accordingly further income may be due to the Fund and such income be accounted for in future years if and when it is received. In order to mitigate the risks associated with remitting funds to Zimbabwe, the grants relating to Zimbabwe are paid to various UK-based sterling accounts held by the Episcopal Area Link Committees which are separately constituted bodies not under the control, direct or otherwise, of the Charity or the Diocese of Southwark.
## **Structure and governance**
The Charity is governed by a trust deed dated 1[st] March 1998. It is an unincorporated charity, registered with the Charity Commission in England and Wales.
The Bishops – both Diocesan and Suffragan – of the Diocese of Southwark are by right the Trustees of the Charity. The current Trustees are listed in the Administrative Details section below. While the Trustees are also Trustees of the Southwark Diocesan Board of Finance, the management and finance of the two organisations are entirely separate.
## **Trustees’ responsibilities**
The Trustees are responsible, under the provisions of the Charities Act 2011, for the preparation of accounts for each financial year which give a true and fair view of the state of affairs of the Fund and of its income and expenditure for the year. In preparing these financial statements, the Trustees are required to:
- select suitable accounting policies and apply them consistently;
- make judgements and estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis.
4
## **Administrative details**
**Trustees** Bishop of Southwark – The Rt Revd Christopher Chessun (Chair) Bishop of Croydon – The Rt Revd Dr Rosemarie Mallett Bishop of Kingston – The Rt Revd Dr Martin Gainsborough Bishop of Woolwich – The Rt Revd Alastair Cutting (from 3 July 2024)
**Hon Treasurer** Ms Ruth Martin **Hon Secretary** The Revd Alun Ford **Principal Address** Trinity House, 4 Chapel Court, Borough High Street, London. SE1 1HW **Advisers** Bankers Hon. Independent Examiner CAF Bank Limited, Mr Mark Rhodes MA ACA, 25 Kings Hill Avenue, Trinity House, Kings Hill, 4 Chapel Court, West Malling. Borough High Street, Kent. ME19 4JQ London. SE1 1HW
National Westminster Bank plc c/o South London Church Fund & Southwark Diocesan Board of Finance 10 Southwark Street London SE1 1TJ
Approved by the Trustees on 27 October 2025 and signed on their behalf by:
Aawrn.— \Nodlusscle.
The Rt Revd Christopher Chessun Bishop of Southwark
The Rt Revd Alastair Cutting
Bishop of Woolwich
5
## **THE BISHOP OF SOUTHWARK’S LENT FUND**
## **REPORT TO THE TRUSTEES BY THE INDEPENDENT EXAMINER ON THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024**
## **Respective responsibilities of trustees and examiner**
The Charity’s Trustees are responsible for the preparation of the accounts. The Charity’s Trustees consider that an audit is not required for this year under Section 144 of the Charities Act 2011 (the “Charities Act”) and that an independent examination is needed.
It is my responsibility to:
a) examine the accounts under Section 145 of the Charities Act,
b) to follow the procedures laid down in the general Directions given by the Charity Commission (under Section 145(5)(b) of the Charities Act), and
c) to state whether particular matters have come to my attention.
## **Basis of independent examiner’s statement**
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a “true and fair view” and the report is limited to those matters set out in the statement below.
## **Independent examiner’s statement**
In connection with my examination, no matter has come to my attention:
(1) which gives me reasonable cause to believe that in any material respect the requirements:
- to keep accounting records in accordance with Section 130 of the Charities Act; and
- to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act have not been met; or
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Mr M Rhodes MA ACA
Trinity House, 4 Chapel Court, Borough High Street, London. SE1 1HW Date: 28 October 2025
6
## **THE BISHOP OF SOUTHWARK’S LENT FUND**
## **STATEMENT OF FINANCIAL ACTIVITIES**
## **FOR THE YEAR ENDED 31 DECEMBER 2024**
## **Registered Charity number 1075122**
|Note
INCOME AND ENDOWMENTS
Voluntary income
2
Income from investments
Other Income
TOTAL INCOME
EXPENDITURE
Charitable activities
3
Raising funds
TOTAL EXPENDITURE
NET MOVEMENT IN FUNDS
Total funds brought forward
Total funds carried forward
7|2024
£
68,381
1,710
-
70,091
80,815
-
80,815
(10,724)
55,809
45,085|2023
£
54,517
1,288
5,500|
|---|---|---|
|||61,205|
|||25,100
-|
|||25,100|
|||36,105
19,704|
|||55,809|
All income derives from continuing activities. The notes on pages 11 to 12 form part of these financial statements.
7
## **THE BISHOP OF SOUTHWARK’S LENT FUND**
## **BALANCE SHEET AS AT 31 DECEMBER 2024**
## **Registered Charity number 1075122**
||Note|2024|2023|
|---|---|---|---|
|||£|£|
|CURRENT ASSETS||||
|Debtors|4|-|-|
|Cash at bank and in hand|Cash at bank and in hand|127,944|55,809|
|CURRENT LIABILITIES||||
|Creditors – amounts falling due within one year|5|(82,859)|-|
|TOTAL NET ASSETS||45,085|55,809|
|TOTAL FUNDS||||
|Unrestricted||45,085|55,809|
Approved by the Trustees on 27 October 2025 and signed on their behalf by:
The Rt Revd Christopher Chessun
The note on pages 10 to 12 form part of these financial statements.
8
## **THE BISHOP OF SOUTHWARK’S LENT FUND**
## **STATEMENT OF CASH FLOWS AT 31 DECEMBER 2024**
## **Registered Charity number 1075122**
|Net cash from operating activities
Cash flows from investing activities:
Interest received
Net cash provided by investing
activities
Change in cash in the reporting
period
Cash at 1 January
Cash at 31 December
Reconciliation of net income
Net income at 31 December
Adjustments for:
Interest received
Movement in debtors
Movement in creditors
Net cash provided by / (used by)
operating activities
Cash in hand|2024
£
£
70,426
1,710
1,710
72,136
55,809
127,944
(10,724)
(1,710)
-
82,859
70,426
127,944|2024
£
£
70,426
1,710
1,710
72,136
55,809
127,944
(10,724)
(1,710)
-
82,859
70,426
127,944|2023
£
£
29,317
1,288
1,288
30,605
25,204
55,809
36,105
(1,288)
-
(5,500)
29,317
55,809|2023
£
£
29,317
1,288
1,288
30,605
25,204
55,809
36,105
(1,288)
-
(5,500)
29,317
55,809|
|---|---|---|---|---|
||||||
|||127,944||55,809|
|||(10,724)
(1,710)
-
82,859||36,105
(1,288)
-
(5,500)|
|||70,426||29,317|
|||127,944||55,809|
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## **THE BISHOP OF SOUTHWARK’S LENT FUND**
## **NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024**
## **1. Accounting Policies**
## _Accounting convention and basis of preparation_
The accounts have been drawn up under the historical cost convention and have been prepared in accordance with the Statement of Recommended Accounting Practice for Charities 2015 and with applicable accounting standards (FRS102) on the accruals basis. The financial statements include all transactions for which the Trustees are responsible in law.
## _Fund accounting_
The Charity operates a single Unrestricted fund, the balance of which is available for any purpose within the Charity’s objects.
## _Incoming resources_
Incoming resources (donations and bank interest) are accounted for when received. Most of the donations are received in the months immediately following Easter, but some donations relating to a year’s Lent Call are not received until after the end of the accounting year on 31 December and are accordingly treated as income for the year in which they are received. Grants received which are subject to pre-conditions for entitlement specified by the donor which have not been met at the year-end are not recognised in the SoFA and are included in creditors.
## _Resources expended_
Grants payable are accounted for when paid over, or when awarded, if that award creates a binding or constructive liability on the Trustees.
_Valuation of time donated by volunteers_
In accordance with paragraph 6.18 of the 2015 Charities SORP, time donated by volunteers is not valued in the accounts. This applies to members of staff of the Diocese of Southwark who provide services to the Lent Fund outside the terms of their Contracts of Employment.
10
## **THE BISHOP OF SOUTHWARK’S LENT FUND**
## **NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 (continued)**
## **2. Incoming resources**
|Voluntary income
Donations
Legacies
Investment income
Bank interest
Other Income
Total income
**3. Expenditure**
Charitable activities
Grants made (see Note 6)
Service Costs
Bank charges
Total expenditure
**4. Debtors**
Gift aid recoverable
Other debtors
**5. Creditors**
Falling due within one year:
Grants awarded but not paid over
Bank Interest payable to South London Church Fund & Southwark
Diocesan Board of Finance
Grant funds paid by South London Church Fund & Southwark
Diocesan Board of Finance on behalf of The Charity|2024
£
68,381
-
68,381
1,710
-
70,091
2024
£
70,000
10,740
75
80,815
2024
£
-
-
-
2024
£
70,000
6,859
6,000
82,859||2023
£
45,569
8,848|
|---|---|---|---|
||||54,417|
||||1,288
5,500|
||||61,205|
||||2023
£
25,000
-
100|
||||25,100|
||||2023
£
-
-|
||||-|
||||2023
£
-
-
-|
||||-|
11
## **THE BISHOP OF SOUTHWARK’S LENT FUND**
## **NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 (continued)**
## **6. Analysis of Grants made**
|Grants to Local Southwark organisations
Grants to Link Committees for the work in Zimbabwe
Grants to support the Church in Zimbabwe
Grants to support the Church in the Middle East and Jerusalem
Grants to other charitable organisations
Total Grants made|2024
£
-
10,000
20,000
40,000
-
70,000|2023
£
6,000
-
15,000
-
4,000|
|---|---|---|
|||25,000|
As noted in previous years, there are challenges in transmitting funds to Zimbabwe and therefore the grants to the Zimbabwean dioceses, when made, are paid into the bank accounts of the four diocesan link committees:
- i. Kingston Matabeleland Link
- ii. Croydon [Central] Zimbabwe Link
- iii. Woolwich Manicaland Link iv. Cathedral Masvingo Link
The link committees have close connections with the link dioceses and oversee the secure release of funds to Zimbabwe. The link committees along with the Bishops and the Dean make regular visits to Zimbabwe which includes visiting the projects supported by the Lent Fund and reporting back on progress.
## **7. Funds**
The Bishop of Southwark’s Lent Fund operates a single General fund.
|2024
2023|Opening
balance
£
55,809
19,704|Incoming
resources
£
70,091
61,204|Resources
expended
Closing
balance
£
£
80,815
45,085
25,100
55,809|
|---|---|---|---|
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