ST ANDREW HOLBORN & STAFFORD'S CHARITY
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2023
Registered Charity No. 1095045

ST ANDREW HOLBORN & STAFFORD'S CHARITY
TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2023
We present our report and financlal statements for the year ended 31 December 2023.
WHO WE ARE
The St Andrew Holborn Charity and Stafford's Charity were brought together at the beginnlng of 2018 to form the
new unlted St Andrew Holborn and Stafford's Charlty. The new Charity Is the successor to a long line of charities
wlth thelr roots In some cases reachlng back to the 1300s. What all those charities had in common was a
recognltlon that some people need more support than others and a desire, through Christian charity, to help them.
WHAT WE DO
The object of the Charlty Is the relief elther generally or Indlvidually of the beneficiaries resldent In the followlng
areas of benefit. l) the anclent parish of St Andrew, Holborn; 2) the parlshes of St George the Martyr and St
George Bloomsbury; 3) the parlsh of St Pancras and that part of the parlsh of Holy Cross, Cromer Street which is
to the south of Euston Road. and 4) the City of London and that part of the anaent parish of St Andrew Holborn
outside the limits of the City.
We alm to contlnue the tradition of the charltles that have gone before us by helping individuals who Ilve withln
our area of beneflt and who need some extra support. We offer this help on the basis of need and Irrespectlve of
background or religious belief.
We aim to help indivlduals In ways:
by buylng energy efflclent applIan￿$ and other household goods to help them and thelr famlly - these
mlght Include washlng machlnes, cookers, fridge-freezers, beds and mattresses or carpets
In a Ilmlted number of speclal cases, by maklng an annual cash awardi pald twlce a year, to supplement
their household Income
We also support organlsatlons that promote Incluslon and communlty cohesion within our area of beneflt.
Our plans for the future
We plan to continue to develop and improve our grant making In order to make the most effettlve use of the
resources available to us. We will continue to review our systems and working practlces and monltor our
perfomiance against the Charlty's objects.
WHERE OUR INCOME COMES FROM AND HOW WE SPEND rr
Our income comes from generous glfts that local people have made in the past to help local people. These glfts
have been carefully Invested and managed over the years and in 2023 gave us an Income of £724,079 (2022:
£576,920).
In 2023, we made grants and annual awards totsling £548,927 (2022: £360,899).
HOW WE HELP- ACHXEVEMENTS AND PERFORMANCE
Public beneflt
In carrying out our work and preparing this report, we have had regard to the tharity Commlsslon's PLSbllc beneflt
guidance.
We alm In making our grants to Individuals to help improve life for the very poorest and those In greatest danger
of being or feeling excluded from the community In our area of benefit. It may not be immediately obvlous how
provlding a washing machine or a cooker or a table can help to improve life beyond simply making life easier.
However, a washing machlne can mean that a famlly can spend more time together and that children can attend
school wlth clean clothes and not be stigmatised. a cooker that they have the capaclty to cook healthler meals
rather than rely on costly Convenien￿ food; ar]d a table that they can sit down to eat together or have somewhere
to work, do homework and so on.

ST ANDREW HOLBORN & STAFFORD'S CHARITY
TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2023
HOW WE HELP- ACHIEVEMENTS AND PERFORMANCE (continued)
We make grants to organisations that aim to support as many people as posslble to access services and actlvltles
that might otheNise be difficult for them to access and wlll hdp them partiapate in and contribute to the local
communlty and society more generally.
2023
After the sadness of the Covid pandemic, 2023 felt more like°buslness as USLkil" despite the challenges presented
by the continuing cost of living crlsis. The poorest In our community have once agaln been hardest hlt by
circuffl5tan￿s beyond thelr control and we continue to do what we can to help those In greatest need of our
assistance.
During the year, we received 129 grant appllcatlons (2022: 156), which resulted by the end of the year In 119
grants being made to 117 households or Indlvlduals (2021: 137 and 124 respectlvely), As In previous years, the
grants we provided were for household items (white goods in partlcular, but Increasingly also for flooring), clothlng
and educatlonal needs.
In another dSfflcult year for many of the people and organisatlons wlthln our area of beneflt, grants totalled
£548,927 (2022: £360,899). Thls comprised £126,525 (2022: £140,400) In annual awards and termly grants,,
£66,599 (2022: £67,708) in individual or household grants; and £355,803 (2022: £152,791) to organlsatlons.
Annual awards are for £750 per redplent, pald half In May and half in November. At 31 December 2023 there
were 165 reciplents (2022.. 183). Termly grants are paid to families with one or more chlldren wlth a disability and
are pald In Instalments three times a year at the start of the school term and are paid on a scale be￿een £450
and £750 a year depending on the needs of the chlld. In 2023, £2,100 (2022: £1,900) was awarded In termly
grants.
Once agaln, we consldered three-year funding for certaln projects, but agreed In all but one case (payments for
years two and three are conditlonal on satisfactory progress reports) to contlnue to make grants for one year only
and to conslder further applications Sn Ilght of need and developments in subsequent years, We wlll contlnue to
conslder three-year fundlng where approprlate.
There is a significant number of hostels and refuges within the Charlty's relatlvely small area of benefit. We
awarded a block grant to St Mungo's for use In all the hostels they run In our area of benefit to be admlnlstered
by key support workers to support Indlviduals. We continued to recelve appllcatlons from key support workers on
behalf of residents of other hostels (Includlng for move on costs for independent Ilvlng) at a steady rate and we
agreed grants totalling £5,750 (2022: £4,780).
We contlnued to work closely with soclal and health support workers from the local authorlty and NHS Trusts to
ensure those who are not eligible for social funding or whose needs ex￿ed statutory Support may re￿5Ve some
assIstan￿. These cases often requlre extraordinary grants beyond the usual £500 maximum and help the more
vulnerable Ilvlng withln the Charity's area of benefit.
Our area of beneflt overlaps in part wlth those of St Giles & St George Alms and the St Pancras Welfare Trust. We
collaborate with these charlties In order to direct addltlonal support to those Indlvlduals and famllles who are
most need of it. In 2023 we administered funding amounting to £3,651 (2022,. £1,874) on behalf of St Giles and
st George Alms and £4,430 (2022: £3,575) on behalf of the St Pancras Welfare Trust, Included in the total.
In addltlon, our Grants Officer made dlrect approaches on behalf of applicants to Westmlnster Almshouses
Foundation and the Royal Theatrical Fund securing grants of £339 and £410 respectively.

ST ANDREW HOLBORN & STAFFORD'S CHARITY
TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2023
FINANCIAL REVIEW
Results for the year
During 2023, the Charlty returned net income of £528,520. Excluding net galns on Investments of £420,767, the
Charlty achleved net income of £107,753. At the year end, balance sheet resour￿$ had Increased from
£18,162,723 to £18,691,243. These are represented by endowment funds of £14,473,366, restricted funds of
£1,476 and unrestricted funds of £4,216,401.
FINANCIAL REVIEW (continued)
Investments
At the end of the year, Income from investments was up at £724,079 (2022: £576,920).
Reserves
At 31 December 2023 unrestrlcted funds were £4,216,401, of whith £420,000 were deslgnated by the Trustees,
meaning reserves were £3,796,401.
STATEMENT OF TRUSTEES, RESPONSIBILITIES
Law appllcable to charltles In England and Wales requlres trustees to prepare flnancial statements for each financlal
year whlch glve a true and fair vlew of the state of the charlty's financial activitles durlng the year and of Its
financlal position at the end of the year. In preparlng those financlal statements, glving a true and falr view,
trustees should follow best practi￿ and:
select sultable accountlng policies and apply them conslstentlyi
observe the methods and prlndples in the Charltles SORP
make judgments and estlmates that are reasonable and pr￿ent.
state whether appllcable accounb'ng standards have been followed subject to any materlal departures
dlsclosed and explalned In the financial statements;
prepare financial statements on the golng contrrn basis unle55 It Is Inappropriate to presume that the
Charity wlll continue to operate.
Trustees are responslble for keeping proper accounting records whlch di5dose wlth reasonable accuracy at any
tlme the flnancial position of the charlty and which enable them to ensure that the finanaal statements comply
wlth relevant legislatlon and the trust deed. They are also responsible for safeguarding the assets of the charity
and hence taklng reasonable steps for the prevention and detectlon of fraud and other irregularities.
Governan￿ and admini5tratlve detalls of the Charity are to be found on pages 4-7 of this report.
Approved by the Trustees and slgned on their behalf by:
(aL.
The Rt Revd Jonathan Baker
Chalrrnan
Date: 18 June 2024

ST ANDREW HOLBORN & STAFFORD'S CHARITY
TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2023
STRUCTURE, GOVERNANCE AND MANAGEMENT
Trustees are appointed In accordance wlth the governing document taking into account any skills gaps. Inltlal
meetlngs are held with the Chairman, fellow Trustees, the Clerk to the Trustees and the Grants Officer. The
appolntment of co-opted Trustees is approved at a meeting of the full Trustee board. One new Trustee was
nomlnated by the Clty of London Corporation and two new Trustees were co-opted durlng the year to fill vacancies
and to meet specific needs.
New Trustees are mentored by an existing Trustee and are provlded wlth a Trustee flle, which Includes a copy of
the governing document, a copy of the latest annual accounts and a copy of CC3 The Essentlal Trustee published
by the Charlty Commlsslon, All Trustees have the opportunlty to accompany the Grants Officer to meetlngs and
appolntments with prospectlve beneficlarles of the Charity and have the opportunity to attend trustee training.
Pollcy Is set by the Trustees. Responsibility for operatlonal ddlvery is delegated to the Clerk to the Trustees.
The Trustees met on four occaslons durlng the year.
The Charlty, Its slster charltles at st Andrew Holbom (Bromfield's Educational Foundatlon, the St Andrew Holborn
Church Foundatlon, Parlsh Estates Charlty and Lady Elizabeth Hatton's Charlty) and St Andrew Holborn Tradlng
Ltd have delegated to the Flnance and Investment Commlttee the revlew of finanaal and investment matters. The
FInan￿ and Investment Commlttee met during the year.
The Grants Offlcer carrles out the day-to-day admlnlstratlon of the Charity. Within this role the Grants Offlcer
meets Indlvlduals and representatives of local organlsatlons to provlde background Informatlon to the Trustees
regarding the needs of the area. In addition, the Grants Offl￿r Ilalses with other grant glving organisatlons wlthln
the area of beneflt and the surroundlng area to share best practice. Her work Is overseen by the Clerk to the
Trustees.
The Charlty carrles out Internal reviews and where ne￿SSary appolnts professional advlsors to advlse on the
Charlty's Strategies. The Trustees considered the outcome of a revlew of the flnanclal clrcumstances of Annual
Awardees and wlll take a declslon as to the futu￿ of the annual awards during 2024.
The Charlty has Jolnt contracts of employment wlthlts 4 slster chartties at St Andrew Holborn, and wlth St Andrew
Holborn Trading Ltd. Employment costs are shared on a time spent basls. The Finance and Investment Commlttee
revlews salaries on an annual basls and considers these in Ilne wlth slmllar organisatlons.
The Trustees are very aware they rely on the support of the dedlcated and hardworklng staff to dlscharge thelr
responsibillties for the smooth running of the Charity. They are particularly grateful for the sUPPOrt provlded by
Anna Paterson In her role as Grants offl￿r.
Rlsk management
The Trustees have glven conslderatlon to the major risks to which the Charity is exposed and satisfied themselves
that systems and procedures are established in order to manage those risks. Risks are reviewed annually.
The Trustees have recognised the risk to the Grants OffI￿r when visiting grant applicants alone. The Trustees
contlnue to monltor thls rlsk. The Grants Officer is encouraged to attend lone worker training and regular reviews
are carrled out.
The Trustees are aware of the risk in respect of the volat115ty of investment income restricting the abillty to allevlate
need in the area of benefit. The Finance and Investment Committee formally meets the Investment Managers
twice a year. The Charlty has adopted a balan￿d investment strategy with a medium risk toleran￿.

ST ANDREW HOLBORN & STAFFORD'S CHARITY
TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2023
STRUCTURE, GOVERNANCE AND MANAGEMENT (continued)
Investment Policy
The Trustee5' investment objectlve Is to achieve a balar￿e between sustainable levels of Income and capitsl growth
In order to preserve the value of the funds In real terms over the longer term. The portfollo is managed on a total
return basls,
The Trustees are corrmStted to responsible Investment and take Into account envlronmental, soclal and
governance issues. Our exposure to Investments in assets Ilmlted under guidelines issued by the Church of
England's Ethlcal Investment Advisory Group Is monltored regularly by the Flnance and Investment Committee In
dlscusslon wlth our Investment managers.
Sarasin & Partners LLP manage the bulk of the Charlty s Investments as part of the Sarasln Endowments Fund
Class A Inc. The Charity also holds a small Investment In the Property Investment Trust for Charities (P￿cH)
managed by Swlss Life Asset Managers UK Ltd and a second, larger, Investment In PITCH which forms part of the
permanent endowment. A further Investment is managed as part of M&G Equities Investment Fund for Charltles
(Charlfund).
Reportlng Is quarterly and the overall Investment portfolio is revlewed a year by the Finan￿ and Investment
Commlttee.
ReseThes Policy
The Trustees alm to achleve a balan￿ between generating a sufflclent Income to SUPPOrt the ongolng attlvltles
of the Charlty whllst maintalning the real capltal value of the Investments over longer term.
The St Andrew Holborn and Stafford's CharSty has substantially endowed funds and Income from those funds
5UPPOrts the Trustees, objectlves, The Trustees have recognlsed In thelr risk register the potentlal for loss of
Income arlsing from volatlllty in Investment markets and they therefore malntaln a level of reserves sufflaent to
meet thelr expected future commltments, together with an element of contlngency provislon against any
signiflcant, unforeseen need.
GRANT MAKING POLICY
Grants to organisations
The Charlty awards grant to organisations worl(Ing wlth people wlthln the area of benefit and provldlng rellef of
need. All appllcants are visited by the grants offI￿r whose assessments and recommendatlons are consldered by
two Trustees for grants up to £1,500 and at a full meeting of the Trustees for grants over £1,500.
All organisations that are In re￿[pt of a grant from the Charity provlde an evaluatlon measurlng the suctrss of
the projett at the end of the period to which the grant related. These are reviewed and monitored by the Trustees
to ensure that funds granted to the project have been targeted wlthln the area of benefit and applled as agreed.
Grants to individuals
People ellglble for grants are those living in the area of benefit who can prove that the Items provided will Improve
the quality of their lives. All applicants are assessed by the Grants OffI￿r who carries out a home vlslt. Proof of
income Is requlred and those wlth a low income are ellglble for a granL
For educatlon grants proof that a person Is a bona sttxlent Is requlred. There is no age limit for a grant and
these are provided to students on low Income. Grants are awarded for bwks, laptops and Subsistence.
All recommendatlons by the Grants Off￿r for grants and awards are considered by two of the Trustees,

ST ANDREW HOLBORN & STAFFORD'S CHARITY
TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2023
STRUCTURE, GOVERNANCE AND MANAGEMENT (contlnued)
Annual awards are awarded to the long term slck or those with a chronic illness who are on a low weekly income
l.e. uslng guidelines in the region of less than £75 (for a 5irKJle person) or £120 (for a couple). In 2023 the
beneficiaries recelved £375 In May and £375 in Novemter. At 31 De￿mber there were 161 people in recelpt of
annual awards. Termly grants are awarded in a very small number of cases to families with children wlth additional
needs. The arnount awarded varies according to need, but does not exceed £750 a year. At 31 December there
were 4 famllles In recelpt of termly grants. Both annual awards and termly grants are audlted annually.
ADMINISTRATIVE DETAILS
st Andrew Holborn and Stafford's Charlty is a registered charlty govemed by a Trust Deed. It Is reglstered wlth
the Charity Commisslon under number 1095045. The Charltys offices are at 5 St Andrew Street, London EC4A
3AF,
Trustees
ex offlclo
The Rt Revd Jonathan Baker,
Blshop of Fulham
Mr Paul Weston
The Revd Chrlstopher Smlth
The Revd Jamie Halth
Nominated
Cllr Naslm All, OBE
Dr Brian Hanson, CBE
Gulld Vicar St Andrew Holborn
Churchwarden of St Andrew Holborn
Incumbent of St Alban the Martyr
Incumbent of St George the Martyr (from July 2023)
Nomlnated by the London Borough of Camden
Nominated by the Gulkl Church Councll of St Andrew Holborn (until
November 2023)
Nominated by the city of London Corporatlon
Mr Paul Martinelll
Co-opted
Mr Nell Anderson
Mr David Ballance
Mr Jeremy Slmons, OBE
Mrs Janle Sprlng
Officers
Clerk to the Trustees
Grants Officer
(untll December 2023)
Mr NScholas Hllls
Miss Anna Paterson
Principal advlsers
Investment managers:
Sarasln & Partners LLP
Juxon House
100 St Paul's Churthyard
London EC4M 8BU
Swiss Llfe Asset Managers UK Ltd
55 Wells Street
London WIT 3PT
M&G Investments
10 Fenchurch Avenue
London EC3M SAG

ST ANDREW HOLBORN & STAFFORD'S CHARITY
TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2023
Auditors;
Knox Cropper LLP
65 Leadenhall Street
London EC3A 2AD
Bankers:
Lloyds Bank plc
Holborn Clrcus Branch
London ECIN 2HP
Sollators.,
Charles Russell Speechlys LLP
5 Fleet Place
London EC4M 7RD

INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF
THE ST ANDREW HOLBORN & STAFFORD'S CHARITY
Oplnlon
We have audlted the flnanclal statements of St Andrew Holborn & Stafford's Charity (the 'charlty') for the year
ended 31 December 2023 which comprise the statement of financial actlvities, the balan￿ sheet, the statement
of cash flows and notes to the financial statements, including a summary of significant accounting policles. The
financial reporkn'ng framework that has been applled in their preparation is appllcable law and United Kingdom
Accountlng Standards, Including Financlal Reporting Standard 102, the Flnancial Reportlng Standard appllcable in
the UK and Republic of Ireland (Unlted KSngdom Generally AC￿pted Accounting Practlce).
In our oplnlon, the flnanclal statements:
glve a true and falr view of the state of the charltys affalrs as at 31st De￿rnber 2023 and of Its Incomlng
resources and applicatlon of resour￿5 for the year then ended.
have been properly prepared in accordance wlth United Kingdom Generally Accepted Accountlng Pract1￿.
and
have been prepared In accordarKe wlth the Charities Act 2011.
Basis for opinlon
We conducted our audlt accordan￿ wlth Internatlonal Standards on Audltlng (UK) (ISAS (UK)) and appllcable
law. Our responslbllitles under those standards are further described In the Audltor's responslbilities for the audlt
of the flnanclal statements sectlon of our report. We are Independent of the charlty In accordance wlth the ethlcal
requlrements that are relevant to our audlt of the financial statements In the UK, Includlng the FRC'S Ethlcal
standard, and we have fulfilled our other ethical responsibilities In accordance with these requirements. We believe
that the audlt evldence we have obtained is sufficient and appropriate to provide a basis for our opinion,
Conclusions relatlng to golng concern
In auditlng the financial statements, we have concluded that the trustees, use of the golng con￿rn basls of
accountlng In the preparation of the flnanaal statements is appropriate.
Based on the work we have performed, we have not Identlfied any materlal un￿rtaIntleS relatlng to events or
condltlons that, Indlvidually or collectlvelyi may cast slgnlficant doubt on the charlty's ablllty to contlnue as a golng
con￿rn for a perlod of at least twelve months from when the financlal statements are authorlsed for Issue.
Our responslbllltles and the responsibilitles of trustees with respect to going con￿rn are described in the
relevant sectlons of this report.
Other information
The other Informatlon comprlses the Informatlon Induded In the annual report, other than the financlal statements
and our auditor'5 report thereon. The trustees are responsible for the other informatlon.
Our oplnlon on the flnanclal statements does not cover the other infomiation and we do not express any form of
assurance concluslon thereon.
In connectlon with our audit of the financlal statements, our responsibillty is to read the other Informatlon and, In
dolng so, conslder whether the other Informatlon Is materially Inconslstent with the finandal statements or our
knowledge obtalned in the audlt or otherwise appears to be materlally misstated. If we Identify such materlal
inconsistencies or apparent materlal mlsstatements, we are required to determlne whether there Is a materlal
misstatement In the financlal statements or a material misstatement of the other informatlon. If, based on the
work we have performed, we conclude that there is a material misstatement of thls other Information, we are
required to report that fact. We have nothiTrJ to report in this regard.

INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF
THE ST ANDREW HOLBORN & STAFFORD'S CHARITY
Matters on whlch we are required to report by exception
We have nothlng to report in respect of the followlng matters In relation to which the Charlties (Accounts and
Reports) Regulations 2008 require us to report to you If, in our opinion:
the Infomation given in the financlal statements is Inconslstent in any material respect with the trustees,
report, or
suflicient accounting records have not been kept. or
the financial statements are not In agreement with the accounting records; or
we have not re￿IVed all the information and explanations we require for our audit.
Responslbllltles of trustees
As explained more fully In the trustees, responslbillties statement set out on page 4, the trustees are responslble
for the preparation of the financlal statements and for being satlsfied that they glve a true and fair view, and for
such internal control as the trustees determlne is necessary to enable the preparation of financial statements that
are free from material mlsststement, whether due to fraud or error.
In preparlng the financial statements, the trustees are responsible for assessing the charlty's ablllty to contlnue
as a golng concern, dlscloslngi as applicable, matters related to golng cOn￿M and uslng the going concern basls
of accounting unless the trustees elther intend to Ilquldate the tharlty or to ￿ase operations, or have no reallstlc
alternatlve but to do 50.
Audltor's responsibllities for the audlt of the financlal statements
We have been appolnted as audltor under *ction 144 of the Charltles Act 2011 and report in accordan￿ wlth the
Act and relevant regulations made or havlng effect thereunder.
Our objectlves are to obtaln reasonable assuran￿ about whether the financial statements as a whole are free
from materlal mlsstatement, whether due to fraud or error, and to Issue an audltor's report that Includes our
oplnSon, Reasonable assurance is a hlgh level of assurance, but is not a guarantee that an audlt conducted In
accordance wlth ISAS (UK) wlll always detect a material misstatement when It exists. Misstatements can arlse
from fraud or error and are consldered material if, indivldually or In the aggregate, they could reasonably be
expected to Influen￿ the economlc declslons of users taken on the basls of these flnanclal statements.
Irregularltles, Indudlng fraud, are instances of non-compllance with laws and regulations. We deslgn procedures
In Ilne with our responslbllltles, outlined above, to detect materlal mlsstatements in respect of irregularlties,
Including fraud. The extent to whlch our procedures are capable of detecting irregularities, includlng fraud Is
detalled below:
The Charlty Is required to comply wlth charity law and, based on our thowledge of Its actlvltles, we Sdentifled
that the legal requlrement to accurately account for restritted and endowment funds was of key significance.
We gained an understandlng of how the charity complied wlth its legal and regulatory framework, Includlng
the requirement to properly account for restrlcted and endowment fund5, through dlscusslons wlth
management and a review of the documented polKies, pro￿dure$, and controls.
The audlt team, which is experlenced In the audit of charities, considered the charity's susceptibility to materlal
misstatement and how fraud may occur. Our conslderations Included the risk of management override.
Our approach was to check that all restricted Income was properly identified and separately accounted for and
to ensure that only valid and appropriate expenditure was charged to restricted and endowment funds. This
1ndl￿ed reviewing journal adjustments and unusual transactions.
Based on this understandlng we designed our audlt pnxedures to Identlfy non-compliance with such laws and
regulations, Our procedures Involved review of the reporting to the trustees with respect to the appllcation of
the documented policies and procedures and review of the financlal statements to ensure compliance wlth the
reportlng requirements of the charlty.

INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF
THE ST ANDREW HOLBORN & STAFFORD'S CHARITY
There are inherent limitatlons In the audit procedures descrlbed above and, the further removed non-complian
with laws and regulations Is from the events and transactions reflected in the financial statements, the less Ilkely
we would become aware of it. The risk of not detecting a material mlsststement due to fraud is higher than the
rlsk of not detectlng one resulting from error, as fraud may involve dellberate con￿alMent by, for example, forgery
or intentional mlsrepresentatlons, or through collusion.
A further descrlptlon of our responsiblllties for the audlt of the finanaal statements Is located on the Flnandal
Reportlng Councll's webslte at: www.frc.org.uklaudltorsresponslbllities. Thls descrlption forms part of our auditor's
report.
Use of our report
Thls report is made solely to the charity's trustees, as a body, In accordance wlth Part 4 of the Charltles (Accounts
and Reports) Regulations 2008. Our audit work has been undertaken, so that we mlght State to the charlty's
trustees those matters we are requlred to state to them In an auditor's report and for no other purpose. To the
fullest extent permltted by law, we do not accept or assume resp)nslblllty to anyone other than the charity and
the charity's trustees as a body, for our audlt work, for thls report or for the oplnions we have formed.
LLP
Knox Cropper LLP
Chartered Accountants and Statutory Audltors
65 Leadenhall Street
London EC3A 2AD
2024
Knox Cropper LLP Is eligible for appolntment as audltor of the Charlty by vlrtue of Its ellglbllity for appolntment as
audltor of a company under section 1212 of the Companies Att 2006.

rso
+ T
coo
wo

ST ANDREW HOLBORN & STAFFORD'S CHARITY
BALANCE SHEET AT 31 DECEMBER 2023
Notes
2023
2022
FIXED ASSETS
Investment Property
Investments
18 135 416
18,135,416
17 681345
17,681,345
CURRENT ASSETS
Debtors
Cash at Bank
10
23,637
585 686
609,323
23,121
468 759
491,880
Creditors,, Amounts falling due
withln one year
11
33,496
10,502
Net Current Assets
575 827
481378
Total Assets Less Current
Llabllltles
18,711,243
18,162,723
Creditors: Amounts falling due
In more than one year
12
(20,000)
TOTAL NET ASSETS
18,691,243
18,162,723
FUNDS
Endowment Funds
Permanent
Expendable
14
14
10,362,463
4 110 903
10,328,609
3 905,909
14,473,366
14,234,518
Unrestrlcted General FurKI
Deslgnated Funds
15
15
3,796,401
420 000
3,925,729
4,216,401
3,925,729
2,476
18,162,723
Restrltted FLJnds
TOTAL FUNDS
13
18,691,243
Approved by the Board of Trustees on 18 June 2024 and signed on its behalf by:
The Rt Revd Jonathan Baker
Chairman

ST ANDREW HOLBORN & STAFFORD'S CHARITY
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2023
2023
Total Funds
2022
Total Funds
Note
Net Cash Provlded by (used In) Operatlng Activities
(573,547)
(425,867)
Cash flows from investing activltles
Dlvldends and Interest from investments
Movement In Investment Manager's Cash
Proceeds from sale of Investments
Net proceeds from sale of Investment property
Purchase of Investments
Net cash provlded by (used In) Investlng activities
723,778
(8,465)
566,383
(89)
6,121,002
6 161118
526 178
690 474
Change In cash and cash equlvalents in the reportlng perSod
116,927
100,311
Cash and cash equlvalents at the beginn1￿ of the repor￿ng peric
468 759
368 448
Cash and cash equivalents at the end of the reportlng perfod
585,686
468,759
A. Reconclllatlon of net incomel(expenditure) to net cash flow from operatlng activitte5
2023
2022
Net incomel(expenditure) for the reporting perlod
(as per statement of flnancial activities)
(Galns)ILosses on Investments
Dlvidends and Interest from investments
(Increase)Idecrease In debtors
Increasel(decrease) In credltors
Net cash provided by (used in) operating actlvltles
528,520
(420,767)
(724,079)
(215)
42,994
(573,547)
(2,132,648)
2,282,113
(576,920)
1,673
85
(425,867)
B. Analysls of changes In net funds
At OII0112023 Cashflows
At 3111212023
Cash at bank
408,759
116,927
585 686

| 14
ST ANDREW HOLBORN & STAFFORD'S CHARITY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
STATUS
St Andrew Holborn & Stsfford's Charity is an unincorporated charity, registered with the Charity Commission
with registered number 1095045. The Charity's registered address is 5 St Andrew Street, London, EC4A
3AF. A description of the Charity's operations and principal activlties can be found in the Report of the
Trustees.
ACCOUNTING POLICIES
(a) Basls of Accountlng
The Accounts have been prepared under the historical cost convention as modifled by the
revaluatlon of investments at market value and in accordan￿ with applicable Accountlng Standards.
They have been prepared in accordan￿ with the Statement of Recommended Practice (Accountlng
and Reporting by Charities) preparing their accounts In accordan￿ wlth the Financial Reporting
Standard applicable In the UK and Republic of Ireland (FRS 102) issued In October 2019, the
Flnancial Reporting Standard applicable in the UK and Republlc of Ireland (FRS 102 March 2018)
and the Charlties Act 2011. The Charlty constitutes a public beneflt entSty as defined by FRS 102.
The accounts have been prepared to glve a 'true and falr vlew, and have departed from the Charltles
(Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair
view,. This departure involved following Accounting and Reporting by Charltles preparing their
accounts in accordan￿ wlth the Financial Reporting Standard applicable In the UK and Republic of
Ireland (FRS102) issued in October 2019 rather than the Accounting and Reporting by Charitles
statement of Recommended prattl￿ effects've from 1st Aprll 2005 which has since been wlthdrawn,
The Trustees conslder that there are no uncertainties about the Charlty's ability to continue as a
going COn￿rn.
The functional currency of the Charity Is the £ Sterllng.
(b)
Income
Income is recognised in the year once the charity has entitlement to the income, it is probable that
the income w511 be received and the amount of income receivable can be measured reliably.
Investment income is recognised on the date on whlch the dSvldend is payable or the Interest arises.
Income is deferred only when the Charity has to fulfil conditions before becoming entitled to it or
the donor has specified that the Income has to be spent in a future period.
(c)
Resource5 Expended
Llabilities are recognised as expenditure as soon as there is a legal or constructive obllgation
committing the Charity to that expenditu￿, it is probable that settlement will be required and the
amount of the obligation can be meaSu￿d reliably. All expenditure is accounted for on an accruals
bas15.
Costs of Ralslng Funds
The cost of raising funds consists of investment management fees, costs incurred In
maintaining the investment property and an allocation of support costs.
Charitable Activlties
Costs of Charitable Activities include grants pald to individuals and organlsations, direct costs
associated with grant-making as well as an apportionment of support costs.
Support Costs
Support costs have been allocated between activities based on stafF time and include
Governan￿ costs, which comprises all costs involving the public accountability of the Charity
and its compliance with regulatlon and good prattice.

ST ANDREW HOLBORN & STAFFORD'S CHARITY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
ACCOUNTING POLICIES (continued)
(d)
Grants
Grants payable are charged in the year in which the offer is conveyed to the recipient eX￿pt in
those cases where the offer is conditional, such grants being recognised as expenditure when the
conditlons attaching are fulfilled. There are also individual grants, which represent annual awards
payable to eligible applicants, as well as other one-off payments, to relieve hardship as approved
by the trustees.
(e)
Fund Accountlng
(i) Unrestritted Funds..
The unrestricted fund may be used by the Charity In furtherance of its charitable objectlves at
the discretion of the Trustees.
(ll) Endowment Funds..
Permanent endowment funds are restricted capital funds where there Is no power to convert
the origlnal capital to income. Expendable endowment funds represent sums whlch the
Trustees Intend to retain intact but can if necessary be used in furtherance of the Charlty
objectives subject to any restrlctlons Imposed by the donor.
(111) Restricted Funds..
Restricted funds are funds whlch are to be used in accordan￿ with specific restrictions
imposed by donors or which have been ralsed by the Charity for partlcular purposes. The aim
and use of each restricted fund is set out in the notes to the flnanclal statements.
(f)
Value Added Tax
The Charity is not registered for VAT and accordingly where applicable, all expenditure incurred Is
Inclusive of VAT.
(g)
Investments
The Charlty's investments are a form of baslc financial instrument and a￿ Inltially recognised at
their transaction value and subsequently measured at their fair value as at the balan￿ sheet date
Using the closing quoted market pri￿. The Statement of Financial Activities includes the net gains
and1055es arising on the revaluations and disposals throughout the year.
Realised gains and losses on investments are arrived at by comparing the net sale pro￿edS with
the market value at the end of the previous financial year. Unrealised gains and losses represent
the dlfference bel￿een the market value of investments still held at the end of the financial year
with thelr value at the beginning of the year or with their cost if purchased subsequently.
(n
Debtors
Trade and other debtors are recognlsed at the settlement amount due after any trade discount
offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
(o
Cash at bank
Cash at bank is defined as cash and short term highly liquid investments wlth a short maturity of
three months or less from the date of acqulsltlon or opening of the deposlt or slmllar account, Cash
held in accounts with investment managers in included within fixed asset investments.
(n
Creditors and provisions
Creditors and provisions are recognised where the charity has a present obligation resulting from
past event that will probably result in the transfer of funds to a third party and the amount due
to settle the obligation can be measured or estimated reliably. C￿dItorS and provisions are normally
recognised at their settlement amount after allowing for any trade discounts due.

l)dClP. 116
ST ANDREW HOLBORN & STAFFORD'S CHARITY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
INVESTMENT INCOME
2023
2022
Investment Income
Interest Receivable
720,746
576,712
208
576,920
724,079
RAISING FUNDS
2023
2022
Investment Managers Fees
Investment Property Costs - Insuran￿, Repair & Renewals
Support Costs (Note 6)
5,677
5,677

ST ANDREW HOLBORN & STAFFORD'S CHARITY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
CHARITABLE ACTIVITXES
2023
2022
Grant-making
Annual Award to Individuals
Grants - Individuals
Organlsatlons (Note 5a)
126,525
66,599
355,803
548 927
140,400
67,708
152,791
360 899
Staff Costs
other Costs
Support Costs (Note 6)
44,770
1,085
31,207
77,062
43,058
1,763
74,703
Total Charltable Activlties
625,989
435,602
(a) Grants awarded to organisations are shown below:
2023
2022
Oryanisatlon
Action Space
Akash Residents, Association
Age UK City of London
Age UK East London
Bloomsbury Football Foundatlon
Calthorpe Project
Citlzen Advice Camden
CCIWBS
Coram's Fields
Fitzrovla Community Centre
Holborn Cornmunity Association
Home-start Camden
Interact
KCBNA
Kids- Home Learning Support
Mary Ward Legal Centre
Mental Fight Club
Mount Pleasant Hostel
October Gallery
Only Connect
Royal Free London NHS Foundation Trust
Single Homeless Project
Solace Women's Ald
Songhaven
St Mungo's
The Salvation Army
Thomas Coram Nursery School
Women@thewell Projett
YMCA
14,740
12,000
19,040
10,000
4,771
2,520
20,000
9,000
20,000
4,800
10,000
10,000
20,033
4,932
15,000
33,063
8,000
3,500
20,000
11,200
60,000
17,964
20,964
8,500
1,200
6,000
15,000
1,452
1,000
20,000
5,600
35,860
500
4,800
20,000
4,820
16,500
7,206
152,791
8,629
355,803

ST ANDREW HOLBORN & STAFFORD'S CHARITY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
CHARITABLE ACTZVITIES (contlnued)
(b) Reconcillatlon of Grants Payable
2023
2022
Organisation
Commitment at l January
Commitments made in year (above)
Grants paid during the year
Commitments at 31 December
3,582
548,927
511,249
41,260
2,435
360,899
(359,752)
3,582
Credltors due wlthin one year (Note 11)
Credltors due In rnOnth￿ one year
21,260
20,000
41,260
3,582
SUPPORT COSTS
2023
2022
Stsff Costs
Administration Cost Recharge
Insurance
Sundry Expenses
Governance Costs
11,338
11,247
1,214
294
12,946
10,025
222
337
6,352
29,882
31,207
Governance Costs includes amounts payable to the auditor of £6,785 (2022: £6,352).
STAFF COSTS
2023
2022
Salaries
Soclal Security
Penslon Contrlbutions
46,831
4,989
46,626
5,082
4,296
56,004
56,108
The Charity's employees have joint contracts of employment with the 4 slster charltles at St Andrew Holborn
and with St Andrew Holborn Trading Ltd. Together they employed an average of 5 (2022,, 5) staff during
the year, one of whom received employee benefits of £60,000 - £70,000 (2022: one). Employment costs
a￿ shared on a time spent basis.
Key management personnel is defined as the trustees and the Clerk to the Trustees. No trustee received
any remuneration for their role as a trustee (2022: £Nil). The total remuneratlon of key management
personnel was £76,899 (2022: £76,899) of whtch the Charlty's share was £7,659 (2022: £7,659).

| 19
ST ANDREW HOLBORN & STAFFORD'S CHARITY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
INVESTMENT PROPERTY
2023
2022
Investment Property at Market Value
At l January 2023
Disposal
At 31 December 2023
Cost of Property
5,750,000
5 750,000
The Investment Property was sold during the prior year. The woceeds of sale and galn on dlsposal was
as follows:
Sales Proceeds
Carrying Value
Legal & Professional Fees
Realised gain on disposal
6,250,000
(5,750,000)
128,998
371,002
9. QUOTED INVESTMENTS
2023
2022
(a) Quoted Investments at Market Value
Cash wlth Investment Managers
Total Investments
18,126,861
8,555
18,135,416
17,681,255
90
17,681,345
(b) Movement in Investments
Market value as at l January 2023
Addltlons
Disposals
Investment
galns/(losses)
17,681,255
24,839
14,173,252
6,161,118
Realised
Unrealised
Market value at 31 December 2023
420,767
18,126,861
19,132,404
(2,653,115)
17,681,255
19,107,565
Cost at 31 De￿rnber 2023
Quoted Investments with more than 5% of market value, whlch are considered to be material.
Securlty
Portfolio
Sarasln Endowment Funds
Property Income Trust for Charities
M&G Charifund
70.0
16.3
13.7
12,683,065
2,948,785
2,495,011
The carrylng amount of financial a55ets measured at fair value through income and expenditure within
Investments is £18,126:861 (2022: £17,681,255).

ST ANDREW HOLBORN & sfAFFORD'S CHARITY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
10. DEBTORS
2023
2022
Prepayments & Other Debtors
Investment Income Receivable
Parish Estates Charity
Bromfield's Educational Foundation
167
21,986
1,484
21,685
1,428
23,637
23,121
11. CREDITORS DUE WITHIN ONE YEAR
2023
2022
St Andrew Holborn Tradlng
St Andrew Holborn Church Foundation
Accruals & Deferred Income
Grants Payable (Note 5b)
81
17
6,822
3,582
10,502
5,269
6,967
33,496
12. CREDITORS DUE IN MORE THAN ONE YEAR
2023
2022
Grants Payable (Note 5b)
20,000
20,000
13, RESTRICTED FUNDS
Balance at
0110112023
Income
Expendlture
Balance at
3111212023
st Giles in the Fields and
Bloomsbury United Charlty
St Pancras Welfare Trust
Westminster Almshouses
Other
2,351
125
3,000
4,430
339
410
8,179
(3,651)
(4,430)
(688)
410
9,179
1,700
125
(349)
1,476
Balance at
0110112022
Income
Expenditure
Balance at
3111212022
st Giles in the Flelds and
Bloomsbury United Charity
St Pancras Welfare Trust
3VB
Westminster Almshouses
Other
1,241
125
2,984
3,575
3,000
700
700
10,959
(1,874)
(3,575)
(3,000)
(700)
700
(9,849)
2,351
125
1,366

ST ANDREW HOLBORN & STAFFORD'S CHARITY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
13. RESTRICTED FUNDS (contlnued)
st Giles-In-the-Flelds and Bloomsbury United Charity
This fund represents monies received in respert of Charltsble Donations from St Giles-in-the-Fields and
Bloomsbury United Charity to provide grants to individuals.
St Mungo's
Thls fund represents monies re￿iVed from collectlons at Christmas carol seNices specifically to be donated
to St Mungo's.
st Pancras Welfare Trust
This fund represents monies received to SUPPOrt famllies Ilvlng within the overlapping area of benefit.
14. ENDOWMENT FUNDS
Permanent
Expendable
Total
Balan￿ at l January 2023
Net Novement In Funds
Transfer
Balantr at 31 December 2023
10,328,609
33,854
3,905,909
204,994
14,234,518
238,848
10,362,463
4,110,903
14,473,366
Balance at l January 2022
Net Movement In Funds
Transfer
Balance at 31 December 2022
11,556,153
(1,227,544)
4,469,272
(563,363)
16,025,425
(1,790,907)
10,328,609
3,905,909
14,234,518
15. UNRESTRICTED FUNDS
General
Deslgnated
Total
Balance at l January 2023
Net Movement in Funds
Transfer
Balance at 31 December 2023
3,925,729
290,672
420,000
3,796,401
3,925,729
290,672
420,000
420,000
4,216,401
Balance at l January 2022
Net Movement in Funds
Transfer
Balance at 31 December 2022
4,268,580
(342,851)
4,268,580
{342,851)
3,925,729
3,925,729
The Designated fund was establlshed to provide for the costs of additlonal general advisors at organisations
within the Charlty's area of benefit. These fund5 are expected to be spent out over the course of three
years,

ST ANDREW HOLBORN & STAFFORD'S CHARrrY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
16. NET ASSETS BETWEEN FUNDS
Unrestrlcted
Funds
Restrlcted
Funds
2023
Total
Endowments
Fixed Assets
Current Assets
Current Liabilities
Non-current Liabilities
3,657,552
612,345
(33,496)
14,477,864
(4,498)
18,135,416
609,323
(33,496)
1,476
4,216,401
7,556
14,473,366
18,691,243
Unrestricted
Funds
Restrlrted
Funds
2022
Total
Endowments
Flxed Assets
Current Assets
Current Liabilities
3,442,329
493,902
10,502
3,925,729
14,239,016
(4,498)
17,681,345
491,880
2,476
2,476
14,234,518
18,162,723
17. TRUSTEES, REMUNERATION AND EXPENSES
No remuneration, directly or indirectlyi Out of the funds of the Charlty wa5 paSd or payable for the year to
any Trustee or to any person or persons known to be connected with any of them.
No trustees were reimbursed for expenses during the year (2022: none).
18, TAXATION
St Andrew Holborn & Stafford's Charity is a registered charity and is ￿tentIallY exempt from taxation in
respect of Income and capital gains received within the categories covered by Part II of the Corporation
Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that such income
or gains are applied to charitatAe purposes.

ST ANDREW HOLBORN & STAFFORD'S CHARITY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
19. RELATED PARTIES
The Charity is under the control of its Trustees who are the Vicar and one of the two churchwardens for
the time being of the Guild Church St Andrew Holbom, the incumbent of the benefi￿ of St Alban the Martyr
Holborn with St Peter Saffron Hill, the incumbent of St George the Martyr Queen Square, one nomlnee
each of the Guild Church Council of St Andrew Holborn, the London Borough of Camden and the
Corporatlon of the City of London plus five co-opted trustees.
The following parties are considered related to the Charity by virtue of having common trustees and shared
employees:
St Andrew Holborn Church Foundation
St Andrew Holborn Tradlng Limited
Parlsh Estates Charity
Bromfleld's Education Foundation
Lady Elizabeth Hatton's Char5ty
St Andrew Holborn Church Foundatlon acts as paymaster for the stsff employed under Joint contracts of
employment. The Charlty paid £56,108 (2022: £56,004) to St Andrew Holborn Church Foundation for its
share of employment costs. St Andrew Holborn Church Foundation charged the Charity £1 1,247 (2022:
£10,025) as a contribution to overheads and recharged expenses Incurred on the Charlty's behalf
amounting to £NII (2022: £483). At the year end, £5,269 (2022: £17) was owed to St Andrew Holborn
Church Foundation.
The Charity recelves a 2127th share of income from Parish Estates Charity amounting to £1,484 (2022:
£1,428). At the year end £1,484 (2022: £1,428) was due from Parlsh Estates Charity.
St Andrew Holborn Trading Ltd charged the Charity £322 (2022: £81) for meeting facllltles. At the year
end, £Nil (2022: £81) was owed to St Andrew Holborn Trading Ltd.
20. FUNDING COMMITMENTS
During the previous year, the Charity awarded a multi-year grant provlding for Instalments of £20,000
payable in 2023 and 2024. These payments are subject to the Trustees, revlew of the funded project and
as such are not recognlsed as a liability at this time, The commitment will be funded from future Investment
income.