THE ARCHBISHOP OF CANTERBURY'S ANGLICAN COMMUNION FUND Charity No 1078032 TRUSTEES, REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 THE ARCHBISHOP OF CANTERBURY>S ANGLICAN COMMUNION FUND OFFICERS AND ADVISORS TRUSTEES Lord Green of Hurstpierpoint The Rt Revd William Bahemuka Mrs M￿jorie Bannister Mrs Marion M Dawson Carr Mr R Alec Dawson The Revd Dr Duncan J Donnor Mrs Pamela Wesley Gomez Lady Green of Hurstpierpoint Mr Michael J Hart Ms Anne Noel Jones Ms Beverley G Jullien Canon Andrew Khoo Mr Christopher L Mann The Revd Bany E Nichols Mrs Suzannah J O'Brien Ms Adele Paterson The Rt Revd Anthony D Poggo Canon Andrew J Roberts Mr Julian V F Roberts The Revd Wendy Scott The Rt Revd Timothy M Thornton Ms Julie L Wareham (Julie Noon) UK Vice-chair DR Congo UK USA USA USA UK USA UK Malaysia USA UK Treasurer UK South Sudan UK UK New Zealand UK UK PRINCIPAL OFFICE Lambeth Palace, London SE17JU CHARITY NUMBER 1078032 BANKERS CAF Bank Ltd 25 Kings Hill Avenue Kings Hill, West Malling Kent ME 19 4JQ National Westminster Bank plc 169 Victoria Street London SWIE SNA INVESTMENT MANAGERS CCLA Investment Management Limited One Angel Lane, London EC4R 3AB SOLICITORS Mccarthy Denning Minster House. 42 Mincing Lane London EC3R 7AE INDEPENDENT EXAMINERS Gowers Limited The Old School House, Bridge Road, Hunton Bridge Kings Langley, Herts. WD4 8SZ THE ARCHBISHOP OF CANTERBURY'S ANGLICAN COMMUNION FUND TRUSTEES, REPORT For the year ended 31 December 2024 The Trustees of the Archbishop of Canterbury's Anglican Communion Fund (the Fund) present their report for the year ended 31 December 2024 Objectives and activities Objectives and thepublic benefit The principal objectives of the Fund are: to provide assistance for the provinces or dioceses of the Anglican Communion at times of crisis in the Anglican Communion or the community. to support 8trategic initiatives to assist religious and other cEwitable work of the Anglican Communion. and to provide official representation of the Anglican Communion at international institutions and consultations including the Anglican Communion office at the United Nations. There is no other substantial source of funding for these purposes available to the Archbishop of Canterbury which is accessible wholly for the general purposes of the whole Communion. The aim of the Fund is not to supplant the generosity of individual parishes. dioceses or provinces, but, rather, to support the work of the Church locally on behalf of the whole Communion. When planning the charity's activities, the Trustees have regard to the Charity Commissioners, guidance on public benefit and in particular to the specific guidance on charities for the advancement of religion. Significant activities The Fund seeks and welcomes donations to finance its grant making activities. Each year the Fund invites applications t'or grants from the provinces, dioceses and central institutions of the Anglican Communion. Grant applications may be initiated by the Archbishop of Canterbury, the Secretary General of the Anglican Communion and individual Primates or Presidents of Regional Councils recognised by the Anglican Consultative Council. Forn]al application and accountability proccdures have been approved by the trustees. Grant applications are norn]ally considered at a meeting of the trustees held towards the end of each calendar year when the amount of income available for distribution the following year is likely to be known. The Management Committee may approve grants to respond appropriately to urgent requests without undue delay. The Fund Tequires all recipients of grants to sign a grant agreement before grants are paid and to submit reports on the utilisation of the grants every six months and on completion of the project. Norn]ally 75 % of the approved grant is paid on receipt of a signed grant agreement and the balance of 25 % is paid only after receipt of a satisfactory report on the way in which funds advanced has been expended. The reports received are reviewed by a staff member when received and a report on these reviews is considered by the trustees at the next trustee meeting. AinLS and activitiesfor the year. The main aims of the Fund for the year were: To maximise the income available for grants. To allocate the income available to projects which fulfilled the objectives of the Fund. To monitor the submission of reports by recipients and to ensure that the grants paid have been properly applied. Achievement and performance In 2024 the Fund received donations totalling £580.301. This included £73,664 for the Personal Emergencies Fund. We have strengthened our procedures (i) by cancelling the full grant offered if the grant has not been accepted by signing a grant agreement on a limely basis or in the case of the Church of South India if the recipient has been placed in administration. and (li) by rcducing the grant by an amount equal to the unpaid balance for certain grants on which the r￿st 75 % of a grant agreed has been paid but, in contravention of the grant agreement, a satisfactory report on which the way in which funds have been ulilised has not been received without adequate explanation within at least two years of the initial payment being made, or because the balance has not been claimed. This has resulted in an unusually high cancellation or reduction of grants in these accounts, thus releasing these funds to be available for distribution in subsequent years. Prior year grants totalling £117,704 were cancelled or reduced. This included grants totalling £71,998 made between 2019 and 2023 which were cancelled either because grant agreements have not been completed by the intended recipient or in the case of £20,000 relating to grants to the Church of South India, because the recipient was placed in administration. Grants totalling £45,706 made between 2017 and 2022 were reduLed either, in the case of a grant reduced by £6,000 made to Pakistan by agreement with the recipient, or in 19 other cases either because satisfactory reports on the utilisation of the 750/0 of the grant paid in advance have not been received or because the balance has not been claimed. Full details are set out in note 3 to the accounts. The Fund made grants totalling £487,290 of which £39,423 were grants from the Personal Emergencies Fund. Full details of the grants made in 2024 and the previous year are set out in note 4 to the accounts. Reports received from recipients of grants have been reviewed and procedures to ensure that reports are received on a timely basis have been strengthened. Administration expenses totslled £79,691 being 10.90/0 of the total income of the Fund. Fundraising costs totalled £29,675 being 4 % of the total income of the Fund. During the yvdr the Fund's investments increased in value by £15,801. Financial review The accounts of the Fund are set out on pages l O to 19. At 31 December 2024 the unrestricted funds carried forward totalled £137,922. In addition, the following Restricted Income Funds were held: US donations £90,866 Being £31,000 retained io meet grant administration expenses in 2025 and £59,866 arising from the reversal rior rants, retained to fund future rants. Bishop Radford Trust £32,192 Being £18,200 retained to meet grant administration expenses in 2025 and £13,992 arising from the reversal nor rants, retained to fimd future rants. PEF Ca ital fimds £250,401 These fLmds are invested. PEF Revenue funds £106.648 Available for PEF rants. Hen Oldfield Trust £5,000 Available for rants to the West Indies £IOO.000 is retained in the (unrestricted) Reserve Fund which may be drawn upon by the trustees in any year in which the income received drops by more than twenty per cent when compared with the previous year. The fimds held in the Reserve Fund (£IOO,000) and the bulk of the PEF Capital Funds (£243,924) are invested with the Central Board of Finance of the Church of England divided approximatcly equally between two equity tiinds, being the CBF Church of England Investment rund and the CBf Church of1.4 ngland Global Equity Income Fund (see note 8 to the accounts). Any othcr surylus funds are investcd in UK interest bearing accounts. The principal funding sources for the Fund during the year were the American Friends of the Archbishop of Canterbury's Anglican Communlon Fund Inc. (the American Friends) £271,709 and the Bishop Radford Trust - £130,000. The grants made during the year supported the key objectives of the Fund as set out below. 2024 2023 Grants to Provinces of ihe Anglican Communion in times of acute need 47,692 78,369 Grants to supporl strategic initiative.Y lo assist religious and other charitable work o the An lican Communion ,gtrate ic artnershi 50,367 19,714 General ro ects 222,808 249,603 Grants for Anglican Communion representalion and consultations 127,000 125,000 G'rants b Personal Emer encies Fund 39,423 26,771 Total rant5 a roved in the ear 487,290 499,457 In 2017 a decision was taken to develop deeper relationships with a small number of provinces who wish to embark on well-planned strategic developments but who cannot do so without external fLmding. These are designated as "Strategic Partnerships". Funding at a level of about £50,000 per annum per partnership for a period of up to three years is considered and third year grants have been made to the provinces of Sudan and Tanzania. This programme was delayed because of the Covid pandemic. CJrants totalling £27,639 were made during the year to the Eglise Anglicane Du Congo towards Iraining and empowering women in ministy and grants totalling £22,728 were made for IAMA, the Anglican Church of Mozambique and Ang01￿ the newest province of the Anglican Communion, mainly for school improvements and to improve staff capacity in the Diocese of Bom Pastor in Angola. The trustees have maintained the support given in previous years to the Anglican Communion Office at the United Nations and have continued to support the Anglican Centre in Rome and the work of the Diocese in Europe in connection with Anglican Representation at European Institutions. Plans for future periods. The trustees aim to seek growth in the income of the Fund to enhance the ability of the Fund to provide financial support to the Anglican Communion and the international ministry of the Archbishop of Canterbury. In particular, as funds become available, thc Fund is aiming to develop further strategic partnerships with individual provinces without significantly diminishing the funds available to provinces in times of crisis, for strategic initiatives and for Anglican Communion representation and consultations. Structure? governance and management Governing documents The Fund was created by a deed of trust dated 12 November1997 for the benefit of the churches and provinces of the Anglican Communion and the international ministy of the Archbishop of Canterbury. This deed has been amended by Supplemental Deeds dated 15 Octobcr 1999, 14 December 2016 and 20 October 2021. On 3 November1999 the Fund was registered in England as a Charity. Recruitment and appointment of new trugtees The Archbishop of Canterbury, the Chair of the Inter-Anglican Finance and Administration Committee and the Secretary General of the Anglican Communion are ex-officio trustees. Five co-opted trustees are appointed by the Archbishop of Canterbury. Three trustees are nominated by the Anglican Consultative Council (the ACC) of whom at least one shall be a member of the ACC Standing Committee. Two trustees are nominated by the Primates, Standing Committee of whom at Icasl one shall be a member of the Primates, Standing Committee. The Vice-chair of tru.stees, who is also the Chair of the Management Committee, is nominated by the Archbishop of Cantcrbury. Therc may be up to cleven elected trustees who shall be lay pcrsons or non-stipendiary ministers with relcvant commercial knowledge and expertise. Each trustee holds office for an initial terni of three years and is eligible t.or re-appointment. Induction and training oftrustees The policies and procedures of the Fund and the responsibilities of trustees are explained to new trustees by the chairman of the management committee and the treasurer. Organisationol structure and decision nwkingprocess The Fund is controlled by the Trustees who meet at least once a year when they consider all grant applications. The Trustees have established a Managcment Committee to deal with the day-to-day affairs of the Fund. The mcmbers of the Management Committee are indicated by in the list of trustees set out below. The Personal Emergencies Fund (the PEF) is administered by a Reference Panel, which is responsible for fundraising for the PEF and for consideration and approval of all PEF grants. The Reference Panel 18 chaired by The Rt Revd Timothy M Thornton. In addition, the following served a8 members of the Reference Panel during the year: Mrs Marjorie Bannister, The Revd Ben Cahill-Nicholls, (the Chief Executive of the Clergy Support Trust)), Dr John Gilbert, Lady Jay Green, Mr Guy FIeald, The Ven Kofi deGraft Johnson ( General Secretary of CAPA), The Revd Barry Nichols (Treasurer) and The Rt Revd Rose Okeno (Bishop of Butere, Kenya), RelaÉedparties and wider networks The Fund applies its income for the benefit of the churches and provinces of the Anglican Communion and the international ministry of the Archbishop of Canterbury. The Fund works closely with the American Friends, an American non-profit organisation, which has a fundraising role in the lJnited Ststes of America and which makes grants each year to the Fund. Certain trnstees of the Americtm Friends are also trustees of the Fund. Risk management The major risks to which the fund is exposed have been reviewed and procedures have been established to mitigate those risks. The main risk is considered to be the possibility that grants made are not applied for the approved purposes. To mitigate this risk grantees are required to submit detailed reports on the use of the funds received within six months, and in many cases only a proportion of the approved grant is paid until an interim report on project progress is received. Trustees, statement of responsibility in relation to the accounts Under charity law, the Trustees are responsible for preparing the Trustees, Annual Report and the financial statements for each financial year which show a true and fa, ir view of the state of affairs of the charity and of the excess of income over expenditure for that period. In preparing these financial statements, generally accepted accounting practice entails that the trustees". Select suitable accounting policies and apply them consistently. Make judgements and estimates that are reasonable and prudent. State whether the recommendations of the Statement of Recommendcd Practice have been followed, subject to any material departures disclosed and explained in the financial statements. Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue its activities. The Trustees are required to act in accordance with the trust deed of the charity, within the framework of trust law. They are responsible for keeping proper accounting records. sufficient to disclose, at any time. with reasonable accuracy the fmancial position of the charity at that time, and to enable the Trustees to ensure that, where any statements of account are prepared by them under section 132(1) of the Charitics Act 201 I, those statements of account comply with the requirements of regulations undcr that provision. They have general responsibility for taking such steps as arc reasonably open to them to safeguard the assets of the charity and to prevent and detect traud and other irregularities. Reference and administration details Legal and administrative information set out on page I fornis part of this report. The trustees of the Fund at the date of this report are listed on page l. Those who served during the period since l January 2024 were: The Most Revd & Rt. Hon Justin P Welby the Archbishop of Canterbury UK The Rt Revd William Bahemuka Chair - Ex-officio (R¢signed 5 January 2025) Mrs Marjorie Bannister DR Congo Nominated by the ACC (appointed 8 July 2024) UK Elected Mr8 Mari()n M Dawson Carr IJSA Elected Mr R Alec Dawson USA Elected 'rhe Rcvd Dr Duncan J Donnor UK Mrs Pamela Wesley Gomez Co-opted USA Elected Mr Michacl J Hart UK Chair Inter Anglican Finance and Administration Committee Ex-offjcio Nominated as Vice-chair by the Archbishop of Canterbury Elected Elected Co-opted Nominated by the ACC (appointed l O September 2024) Elected Treasurer- Elected UK Elected UK Co-opted South Sudan Secretary General of the Anglican Communion - Ex-officio Co-opted UK Elected New Zealand Nominated by the ACC (appointed 8 May 2024) UK Co-opted UK Elected Lord Green of Hurstpierpoint UK Lady Green of Hurstpierpoint Ms Anne Noel Jones Ms Beverley G Jullien Canon Andrew l(hoo UK USA UK Malaysia Mr Christopher L Mann The Revd Bary E Nichols Mrs Suzarmah J O'Brien Ms Adele Paterson The Rt Revd Anthony D Poggo USA Canon Andrew J Roberts Mr Julian V F Roberts The Revd Wendy Scott The Rt Revd Timothy M Thornton Ms Julie L Wareham (Julie Noon) Members of the Management Committee Ms Safiya Nyirongo and Ms Helen Winning were employed during the year by Lambeth Palace to serve as Chief Executive Officer of the Fund and Programme Manager respectively. The Fund bears their employment costs. Trustees The Tn￿eeS wish to tlwjk The Rt Revd and Rt Hon Justin Welby for his leadership as Chair of the trustees over the last twelve years. At the Annual General Meeting held on 24 October 2024, kn Matiorie Bannister and MTS Pamela Wesley Gome& whose periods of office as a trustee had come to an end, werc re-elected as trustees. In May 2024, The Revd Wendy Scott, The Rt Revd William Bahemuka and Canon Andrew Khoo, members of the Standing Committee of the ACC, were norninated by the ACC to serve as tsustees and accepted appointment on 8 May, 8 July and l O September 2024 respectively. Independent Examiners Borucki & Co resigned as Independent Examiners during the year and Gowers Limited were appointed in their plac¢. Lord Green of Hurstpierpoint Vi¢e-Chair 8 October 2025 Accountant's report Independent examiner's report to the trustees of The Archbishop of Canterbury'5 Anglx¢*n Communion Fund I report on the accounts of the trust for the year ended 31 Decenther 2024, which are set out on pages 10 to 19. Respective r&5ponsibilities of trustees and eLqminer 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 responsibijity to: examine the accounts under section 145 of th¢ Charities ACL to follow the procedures laid down in the generat Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act), and to state whether-particular matters have come to my attentio Basis of independent examiner's report My examination was carried out in accordance with 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 the evidence that would be required in an audiL 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 ststement below. Independent Examiner's statement In connection with my examination, no matter came to my attention: (l) which gives me reasonable cause to believe that in any materia] respect the requiiements.. to keep accounting records in accordance with Section 130 of the Charities Act. to prepare accounts which accord with the accounting records and comply with the requirements of the Charities Act have not been met; or (2) to whiclL ia my Opinio￿ attention should be drawn in order to enable a proper understanding of the accounts to be reached. The R¢vd David M Green Gowers Limit¢d The Old School Ho Hunton Bridge Kings Langl¢y HerLs WD4 8SZ 8 October 2025 THE ARCHBISHOP OF CANTERBURY'S ANGLICAN COMMUNION FUND STATEMENT OF FINANCIAL ACTIVRTIES For the year ended 31 December 2024 Restricted income funds 2024 Unrestricted Designated funds funds 2024 2024 Note Total 2024 Total 2023 Income Grnnt from The Friends of the Archbishop of Canterbury's Anglican Communion Fund Grant from American Friends of the Archbishop of Canterbury's Anglican Communion Fund Inc Donations received Donations to Personal Emergencies Fund Tihal donatiotts Prioryeargronts cancelled or redueed Inveslmenl income InLornc from investments Intei'est receivable Total income 2,904 2,904 9,420 271,709 1.30,000 73.664 475,-373 95,782 271.709 232,024 73,664 58Q.301 117,704 102,024 243,478 288.554 35,271 576,72.3 1.500 104,9?8 21.922 3,447 21.336 151,633 6,196 4.289 581,640 9,643 25.625 733,273 9,475 22,666 610J64 Expenditure Cliurituble aclivilies Grants to Provinces of the Anglican Communion in times of acute need Grants for strategic initiatives: Strdleg?IL partiierships General projects Grants for Angli¢an Communion representation and consultations Grant.$ by Per.sonal Fmergiencies Fund Totalgrnnts qpproved in iheyeor 47.692 47.692 78,.369 43,861 50,-167 178,947 50,-367 222,808 19,714 249,603 127,000 39,423 443,429 127,000 -39,423 487.290 125,OOQ 26.771 499,457 43061 Administralion andfinance costs Administration Loss/lGain) on exchange 24,658 576 54,457 79,115 72,106 166 FundruisinR 29.090 -585 29,675 28,772 Total expenditure 498,471 Net income/(deficit) 596,6.56 600,501 1,169 Reduction in Transfer to Covid 19 funds 136,617 9,863 Other recognised pin81(losses) Realised gain/{Ios5) on investments Unrealised gaiiV(loss) on investments 5,765 10.036 Net Movement in Funds 39,672 -$9.213 93,20.5 152,418 Fund balances broughi fonyard at the beginning of year 49.-535 78.709 100,000 .391.902 570.611 Fund baB*nees Carried fonvard gt end of year 521.076 137,922 100,0110 485,107 723.029 570,611 10 THE ARCHBISHOP OF CANTERBURY'S ANGLICAN COMMUNION FUND BALANCE SHEET At 31 December 2024 Note 2024 2023 Fixed assets Investments- Unreslriclcd income funds Investments- Personal Emergencies Fund 136,258 243,924 380.182 130,493 233.888 364J81 Current assets Debiots Other dcbiors Cash ￿ bank 170.325 730.260 900585 127,122 760.595 887,717 Llabllities Creditors falling due within one year Du¥ to I,riends of the Archbishop ofcanterbury's Anglican Communion Fund Grants payable Qiher creditor8 1,203 644.840 35,444 68J,487 525,9711 31.768 457,738 NLI ¢urrenl ussets 342,847 206.230 Nct ussets 723,029 570,611 Funds Unreslricledlncomefuiids (iLn¢rul l.und Reserve Fund 137.922 i 00.000 217.922 78.709 100.ooo 178,7119 Restrlcked Ineomefunds US donalions Bishi)p Rudtord 'l"rust WomLn on IhL Front l.inL Hcnry l)Idfield Trust Pcrsonal r.mergcncies fund _ Capilal funds Personal Emurgencie5 Fund - Revcnu¢ fund. 90.866 32,192 52,919 19.1109 2.500 5,000 240.365 72,109 391.902 5.000 250.401 106.C)48 48S.107 723,029 570,611 L()rd Ciiren ofHurstpierpoint ViLU-Chair ol'Trustc 08 October 2025 THE ARCHBISHOP OF CANTERBURY'S ANGLICAN COMMUNION FUND Notes to the accounts 31 December 2024 I Constitution The Archbishop of Canterbury's Anglican Communion Fund (the Fund) was created by a deed of trust dated 12 Novernber 1997 for the benefil of the churches and provinces of the Anglican Communion and the international ministry of the Archbishop of Canterbury. This deed has been amended by Supplemental Deeds dated 15 October 1999, 14 December 2016 and 20 October 2021. On 3 Novembcr 1999 the Fund was registered in England as Charity No 1078032. 2 Accounting polieies The principal accounting policies adopted, judgements and key sources of estimation of uncertainty in the preparation of the accounts are as follows.. Basis of financial statements The accounts have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities SORP 2015 (SORP 2015) as amended by Updated Bulletin l. Thc trust is a public benefit entity as defined by FRS 102. The accounts have been prepared under the historical cost convention and include all transactions, assets and liabilities for which the trusl is responsible in law. The trustees consider that th¢re are no materAal uncertainties about the Trust's ability to continue as a going concern. Preparation of the accounts on a going concern basis The trust is a grant making trust and only make8 grants out of available income. During the year the trust had a net excess of income over expenditure of £136,617. At 31 December 2024 Unrestricted Reseryes totalled £237,922. The trustees are not aware of any circumstances that might affect the going concern status of the trust in the foreseeable fLlture. For this reason. the trustees are of the opinion that the trust can be considered a going concern for the foreseeable future, this being a pei'iod of at least twelve months from the date of approval of the balance sheet. Funds Unreslricledfvnds are funds set aside by th¢ trustees that are not subject to any restrictions regarding their use and are available for application on the general purposes of the trnst. Designatedfunds are general funds set aside for a particular purpose by the trustees. They are also unrestricted. Reslricledfynds represent donations or grants received for a specific object or invited by the trustees for a specific object. The funds may only be expended on the specific object for which they were given. Any balance remaining unspent at the end of the year must be carried forward as a balance on that fund. 12 THE ARCHBISHOP OF CANTERBURY'S ANGLICAN COMMUNION FUND Notes to the accounts 31 December 2024 2 Accounting policies (Cont'd) Income All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. Donations are recognised when the Trust has been notified in writing of both the amount and settlement date. Legacies are reCO￿lSed on a case by case basis following the granting of probate when the administratorlexecutor for the estate has communicated in writing both the amount and settlement date. Interest on tiinds held on deposit and income from investments is included when receivable and the amount can be measured reliably by the charity. this is normally upon notification of the interest or investment income paid or payable by the bank or investment institution. The value of donated services is calculated at the estimated cost of employing staff to provide the services concemed. Expenditure Liabi lities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probablc that settlement will be required and the amount of the obligation can be measured reliably. Expenditure on charitable activities comprises direct expenses incurred on the defined charitable purposes of the charity and includes staff costs attributable to the activity. Grants payable are accounted for once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Governance costs comprise of expenditure on compliance with and advice on constitutional and statutoiy matters. As all expenditure can be attributed to specific categories no apportionment between headings has been necessary. Irrecoverable VAT is included in the items of expenditure to which it relates. Fixed assets Office equipmenl is depreciated on a straight line basis over 4 years. Individual items of equipment with a purchase price of £500 or less are written off when the asset is acquired. Inveslments are valued at market value at 31 December Foreign currencies Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities denominated in forcign currencies are translated at the rate of exchange ruling at the balance sheet date. All differences are taken to the profit and loss account. Taxation 'I'he Trust, as a registered charity, is exempt from taxation on its incorne and gains falling within Section 505 of the Taxes Act 1988 or Section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that they are applied to its charitable objectives. No tax charge has arisen in the year. 13 THE ARCHBISHOP OF CANTERBURY'S ANGLICAN COMMUNION FUND Notes to the accounts 31 December 2024 3 Prior year grants cancelled or reduced Prior year grants canc£llcd OT reduc¢d were as follows.. Ujjrcstricted Restricted Unrestrie4ed Restricted locom¢ lllcome Income Incornc fimds fwids funds funits 2024 2024 2023 2023 Cancellalions 2019- Southem Africa - Namibia-support for Dioc¢san School of Ministri¢s 2020 - Alcxandria- F,gypt- Clergy and lay leadcrship training 2020- Myanmar- Mandalay- Otrice set up for new missionary dtocese in HorTTraRin ar 2021- Central Africa- Malawi - Dioccse of Upper Shire- Financial Management and Icadership trainin& 2021- Suuth Sudan - Diwese ofYambio- Evangelism and Inission response to C()vid 19 2023 - South India- EmpoweringDalit and Adiv&8i womcn to access ¢onstilutional nefits. h¢¥tlihcare s¢rYiccs and career guidancc 2023 - South India- Providing grantas lo Dalit and Adivasi theological students to fund their iheological education Tolal can¢￿6￿11￿11Ulls i 0,000 10,000 6,078 9.922 9,998 6.000 i 0,000 i 0,000 15,922 56,076 Rediicliorts 2017 Southern Africa- Namibia- Clergy training 2018 - Southcm Africa- Namibia- l)ioce%an Sch(x)l of Mini8lrics 2018 - MLlan¥sia- Diocese of Tiinolu - I,uova Mission Station. Waler & Sunilation 2018 - Papua N¢w CJuinea - Mission S¢¢r¢tary's position and ¢(lu¢alion and training 2020 - Bnv.il - Di()ccsc of Aina/.onia - Mission£￿ campaig]) in Manaus rcgion 2020 - CAPA -13i5hups' OriL'nlation 2020 - Ceylon - Diocese ol'colombo - RefurbishTn¢nt of Christchurch, H8mbanlota 2020- Con80 - PerlorniancL bascd monitoringp for nRlionul staff co-ordinutors 2020- Mo/.¢linbiquL - NampulaiiioJa Project. BLiilding th¢ gbilily ol. farmers toin with4t8nd cliinatc chonge by Improviiig turmin8 meihDd¥ 'rartzania- Leadership rainin8 for 28 bishops fmm all dioee5es in TonzAni Asltvoceanu Banglodesh Diocese3 ofDhaka. RLishtia and Barishal - Building the younger 8eneration to become en Qctive p￿rt vf tlie Lhurch i() play a Vital role in the future India- Church of South Indi&- Providin8 ￿￿til$ to Dalit and Adiv&si theologieal Students to lund ihc2r theological cducation India- Church of South India Hoin¢ Carc Nur5Jiig Pro8fdmm¢ Myanrnur- Siitwt r)iocese- Repllir oFCaihedral ronf doiTw¥¢d by Lhe MIKha cyclone Paktslan - Diucese of Pc5hawar- 8upTX)rt for St Luke's Lhurch, Abbott8bad Sri l.&nka- Church of C¢ylon- Kurnn88ala DIoLeye- Devclopittent of n¢w dioccsan olTice to repl&cc buildin8 condemncd as unusoble. Americus/Coribbe*n T87.il. Diocese of Pargna- cation pf diocesan trainin8 aiid mecting Lentre 10,(x)o 10.(K)O 5.000 20,000 10.000 l O,(M)O 6,000 10.000 10,000 S,(K)O 10.ooo 10.500 10,000 1.829 ?o.oon i 0,000 9.135 10,000 An8lTcan Alliaiicc- Comrnunion foicsi liiitialive Women on thc Front Line- Training for $pouses of Bishops 20.IX)O 28.968 43,861 178.947 17.329 222.274 GTfjntsforAiigllcoii ComniuNioii represenlftliou 4ndconsulthtions Grunls uppR'oiJed iii 2Q24 ?n23 Diocese in Europ¢- An￿1¢an Representation at EuropEan in5tÈtutions Anglican Centre irt Rornc- Corc support An8li¢an Communion Office at thc lJnited Nations- eore supptsrt 17,000 35.000 75,000 17,000 35.000 73.000 127,000 16 THE ARCHBISHOP OF CANTERBURY'S ANGLICAN COMMUNION FUND Notes to the accounts 31 December 2024 5 Administration and finance costs Administration and finance costs were as follows U])restricted Restricted Unrestricted Restricted Income Income Inwme Income funds funds funds funds 2024 2023 2024 2023 Administration Statrcosts OtTi¢e equipment depreciation Govern0￿ce costs - Ind¥pendcnl exaMin&s fees Governan¢¢ ¢osls- ACJM eX￿nSeS 2023 Bank charges 116 19.726 472 14.372 54,255 56.020 3,600 526 690 24,658 450 202 54.457 665 15,959 127 56.147 6 Fundraising costs Unre8tricled Restricted Unrestricted Restricted Income Income Income Income funds funds funds lunds 2023 2023 2024 2024 Stsff costs Promotion expenses 27.677 1,413 29,090 27.709 1.063 28,772 585 585 7 Investments 2024 PEF 2024 Other 2024 Tothi 2023 PEF 2023 Other Tola] Market value at l Januarv 2024 ranster Irom Anglican Con$ultaiivc Council Addilions l)i%p(Tr%&ls Realised and unrealised inve8lment 8ainl(loss) Market value ai 31 D¢cemE*r 2024 233.888 130,493 364,381 208,538 116.171 324.709 10.036 243,924 5.765 136.258 15.801 380.182 25..150 233.888 14,322 39.672 130.493 364,381 LBF ChurLh ofF,ngland Investmenl Fund CBF Church of England Cjlobal Equily Income Fund 118.592 125,332 243.924 C)1.908 74,350 136.258 180.500 115.938 199,682 117.950 380.182 233.888 60,523 69,970 130,493 176.461 187920 364.381 I li8torical Cost 240.000 85.049 325,049 240,OQO f15,049 325.049 8 Cash at bAnk 2024 2023 CAF Bank Ltd Natwest Bank plc CBF Deposit Fund 101,314 142,691 291,146 30,104 -337,800 587.800 730,260 760,595 17 THEARCHMISHOPOFCANTERBURY'SANCLICAN COMMUNION FUND 31 Derernber2024 9 JIer￿￿￿1￿￿*tsf 2#d ￿•Ve]￿ents*￿ Rtstrvos Toi IV¢Jw￿tht H¢nry Tog¢llKr PEr1¢￿& Perso￿1 At l Januw2023 1).298 lQQg00 109398 31J71 28,968 59.509 l4Q782 140,782 243,478 130.Lkn) 15 45W5 38.369 10.( 4213l3 147.229) 147,229> 1223.149) (124.9711 11(1181 13181y2) 128.772) (ll,9681 (7711 UV691 (IQ4001 {4U3.8591 15.864) R￿￿&ful (￿nS￿lI1￿￿￿¢S1 On invutmu¥J NElITKom¢ fw thev (U772) 61978 Jn 25,35Q 62.978 {Il5631 {2I46¥> 25.350 113.4431 Tr￿[erb￿l￿￿lEwth 6.433 6.433 {6.433) At31 D￿N￿bE{2D13 7{709 1(W).ODO J7&709 52.919 iY.VMJ9 1500 240.365 71lOIJ 391.9U2 ReslrlrlyLII￿CO Yr4r•JS1 DAwbEr2024 T￿1 App¢ttl RThYJNi¢FtsKdF Irwn Expnndiiure Chartlob]ollQivjijo8 Ad￿￿￿￿1￿%11D￿jnd fwnEI Y4.l¢Y 581.64 (25.234) iiy.ow) 143.861) 0711,8Y6> {122,6V)I 125.234) Qa336) 12.SQQl 1443.4291 154.4571 19.001) Gwng tsrllosF0S)c￿ uJvr¥ift￿ N¢¢inthm¢ fortha)wr 37.947 12)L￿) J4.539 93,205 A131 DEc¢mbw2(ll4 2371)22 250401 648 Thwt rtteiv4d in ￿n￿¢￿n￿￿5p¢eLr￿d8r4ntslts b¢ m*Je Fund TpR¢ihrritt lthltyrfpwl fundr¢prthnts pJn0uttsta￿d ￿ rtypowoto thApP￿ An811¢￿c01￿ny￿ by￿ thhbthpofc￿r￿ 2l20towport4ntth￿T fund forthur¢lbJ5aThl¢omm￿n1￿•j wtiEultrrffjod d￿￿8 thecoyid IV iodw¥i rnBn)b¢￿0r￿rrOWA1knth￿W￿ tho eommuwo fw emttyr¢iw. 10 A￿lY￿•t￿et ¢IV￿￿TI Rlycnv H•Ary Fund 31 Dff¢mhr2U23 oirKO¢qUIPWI 3￿491 Cu[reni￿ IhblOIi ewhjl bAnk 233,B%K 71>.INh) .581 9.242 127.122 4477 7&897 ijnu Ctsrml 110b￿lI1 (I i.i.(&*i Tthlll nE*aM¢ts 24Tr.3&% 711( Illthp YoR¢Nwr Fund 31 ￿thr2Tr24 Af¢repr¢6th1ed bv. fixed Office￿￿pu In￿ments 36.￿8 100.w) Z43.924 182 40J25 IJJ.943 l30.0 12.625 (477 106,( 7311261) cL￿en1 li¥bThnes 194A41 {3￿431) (147 %76) 112.6251 <557.718) Totsl 32.JY2 J(hS.fy48 7￿.019 THE ARCHBISHOP OF CANTERBURY'S ANGLICAN COMMUNION FUND Notes to the aeeounts 31 Dteemb¢r 2024 11 Comparatlves for Statement of Financial Activities gnalysed between fiwds Restricted in¢ome funds 2023 Unrestricted Designated funds funds 2023 2023 Total 2023 Note Income Donalions CJrani from The Friends of the Archbishop of Cantcrbury's Anglican CommuT]ion fund Grant from American Friends of ihe Archbishop of Canterbury's Anglican Communion Fund Inc Donations received Donations to Pcrsonal Emergencies Fund Prior year grants ¢ancelled or redu¢ed Tolal dontstlons lftvestnienl income In¢ome from inv¢slments Interest receivable TotAI income 6,920 2.500 9,420 243,478 178,369 35,271 243,478 288,554 35.271 1,500 578.223 110,185 ,500 118,605 459.618 3,386 18,791 140,782 6.089 3,875 469W2 9,475 22,666 610J64 Exp¢ndlture Charilahle acllvliies Cjranls to Provinces ofihe Anglican Communion in timis of acute nced. Grants tor slralcgic initiatives- Strdtegic partnerships General projects Griinls Inr Anglican Communion rcpresenlation and consultations Grants by Personal Emergencies Fund Tolftlgrants dpprovedln theyefir 29,550 48,819 78,369 350 17,329 19.3()4 232,274 19,714 249,603 125,000 26,771 452228 125.000 26.771 499,457 47,229 Admlnlylrailon andjlnonce costs Adminisiration L08s/ICiain} on exchange 56,147 72,106 166 166 FundraLsln8 costs 28.772 28,772 Total expenditure 92,126 508J75 600JOI Net incomel(defJeit} 48,656 {38,793) 9,863 Reduttio￿ in transfer to Covid 19 funds 6,433 (6,433) Other recognised gain51(losses) Rcalised gain on inveslment8 Unrealised gainl(loss) on investments 14J22 25JS0 39,672 Net income for the year after transfers 69AI I (19,876) 49,535 Fund balances brought forward at the beginning ofyear 9,298 100.000 411,778 521.076 Fund balances carried forward at end of year 78,709 100,000 391,902 570,611 19