                 Page I E-FIELD AND RY UNtrED CHA REFERENCE AND ADMINISTrATIVE DEfAILS Constitution: St Giles-in-the-Fields and Bloomsbury United Charty is a Registered Charity No: 1111908, and is governed by a sole corp)rate Trustee. This is St GiIes-in-the-F￿IdS and Bloomsbury United Trustee Limited (company number. 11322099). Trustee: The previous trustees of the tharity became the Dire(tors of the Corp)rate Trustee. The T Sander The Revd D Peebles Ms C Campbell Mr J Sharpe Mr J Eveleigh Ms P Tuckman Ms F Asif Mr A thoudhury Officer: ChairtErson aerk to The Trust of St Gile5-in-th*iekls of St George, Bk￿mSbjry ChJrchvrarden (fj St Giles-in-tsFiekJ5 Ownthwarden rf St c￿rge, BkxJmsExry PijtKNnted 23 January 2024 Revd T Sa Ms H Catp Professional Advisers: Bankers: C Hoare & Co 37 Fleet Street Lonthn EC4P 4DQ RathLx)nes 30 Gresham Street Luthi EC2V 7QN Independent Examlner: Rithard Billinghur5t FCA Knox ￿(4)￿r LLP statutw Auditor5 65 Leajenhall Street Lon(b)n EC3A 2AD Solldtor: Julipm Rutler RLS Law Sutte 3tF33, The Hop ExthansE 24 5(xJthwwk Street LoTrJon SEI ITY Prfnclpal Office Address: St G1￿-ln-the-F1elds ￿Urch 60 St Giles Street WC2H 8LG Page 2 MS UNrrED The Trustee submits its retKwt and ac(J)unts for the year ended 31 December 2024. SfRucfuRE, GOVERNANCE AND MANAGEMENT St Giles-in-th&Fields and Bkx)msbury United (hrity is a Registered Charity (N. 1111908). It was set up by a scheme of the tharity CcMnmissw)n dated 10th August 2005. This consolidated four former charities: St Glles-ln-th￿FiekIS Almshouse and Pension Charity; The Bloomsbury DisFensary for the RelEf of the and Poor (founded 1801). Thomas Levertcm's Tharity (fourKJed 1824); and The Ditylin Brand Charity (founded 1904). The charity has a %)le corporate trustee - St-Giles-in-the-Fiekls and B1￿mSbUry United Trustee Ltd. The individuals who were Trust￿ of the tharity are now the Directors of that limited o)mpany. The Directors of the corporats trustee comprise four ex-officjo Directors, the Rectors and one urchwarden from St Giles-in-the-Fields and St George's, BloomSL￿ry and up to ft)ur co-opted Directors who are ap￿inted by the other Direthrs for a kviod of three years (after which they can be re-appointed). The Charity has adopted a recruitmen( sdecb'on and induction ￿AlcY for new Directors of the corwrate trustee. New Directors may ￿ sought by advertisement or through open dialogue with ￿levant organisations. Ml F>)tential Directors a￿ appropriately vetted and on apFointment new Directors sign a nM)del dedaration statement committing them to giving their time and their expertise. New Directors are provided with a file. which indudes a copy of the governing docwment, a copy of the latest annual accounts arKI a copy of CC3 The Essential Trustee published by the Charity Commission. They are initially suppjrted by the Chair and are encouraged to attend relevant training.courses. All Directors give their time freely and no remuneration was paid during the year. Details of trustee expenses and related party transattions are disdosej in Notes 6 and 20 to the accounts. Directors are required to disdose all relevant interests and register them with the Clerk and in accordan￿ with the Charivs rx)licy to withdraw from decisions where a conflict of interest arises. The Directors of the Trust¢e meet quarterly to agree the broad strategy areas of activity for the Charity, including the management of the alMSh￿ses, consideration of gTrnt making, investment, reserves and risk management tx)licies and Ferforrnan￿. Addttional meetings may scheduled to discuss strdtegic planning and governan￿ issues. Page 3 IL -IN-THE-FIELD MSBURY UNIT RT FTHET EM 24 srRucfuRE, GOVERNANCE AND MANAGEMENT (Continued) The day-ttrday operBtions are managed by the aerk indLKting the finanaal administration, the operations of the Almshouses, and the administration of the grants. The Clerk (and other staff) are employed by the ￿ Giles-in-thtrFields and William Shelton Education Charity to undertake alministration on behalf of tth (haritie5 and the salary costs are shared. This relationship with the other thartty has been formalised through the agr￿rnent of a formal Memorandum of Understanding agreed by the Trustee of toth charities, which was reviewed in 2021. Together the charities are known as St Giles & St George. The Charity is a member of The Almshouse Assc(iatton. This wovides muth helpful informab'on on goxj prattice, thange5 in law afferting almshouse charities and a(ts as an authoritative lobby on behalf of almshouse charities with the government and regulators. OBJECTS AND ACTIvrrIES The objects of the Charity are the relief of financial hardship by: The provision of housing accommodation in the a￿ of benefit for widows or sixnsters in financial hardship, with a Preferen￿ for the former, who are not less than 60 years of age. The provision of grants of money, paying fc* items, services or faalities to persons living in the area of benef￿. In eX￿ptIOnal cases, the trust￿ may decide to assist sorneone who does not live in the area of benefit; and The relief of sid( or infim persons in finanaal hardship generally or individually, with preference for sick or infimi ￿rSOnS in financial hardship IviirKJ or working in the area of benefiL The Trustee confims that it has referred trj the guidan￿ contsined in the Charty Commisslon's general guidan￿ on public benefft when reviwng the ￿arityS aims and objecbves and in planning future activitie5 and Setting the grant makn.ng FK)liq for the year. The Charity carrEs out these obj&ts by.. Providing almshouses in the area for 8 older women. The St Giles Almshouses comprise a small community of eight self-contained flats situated around an attractive COUFtyard - an oasis of calm in busy Covent Garden. Providing grants to individuals living in the area in financial hardship. Providing grants to charitsble organisations working in the area viho provide Servi￿ to people in financial hardship ￿ who are or infinn. Area of Benefft The Charivs grant-making is geogrdphical. the area of benefit is the mcxjem ecclesiastical parishes of St Giles-in-the-Fields' St G&)rge's, BIcK)msbury; and St Paul's, Covent Garden. In Icol authorty temis, this includes the majority of Bloomsbury and Covent Garden & Hollx)m wards, in Camden and small parts of St James and West End wards in Westminster. It is a small area to focus on and cbse to 50Wo of the area of benefit is non-￿idential (open Spa￿5, museums, universty campuses as well as offitr and retsil). None of the ward areas fall into the 20 % most deprived nationally. Page 4 ILE R THE YEAR ENDED 31- DECEMBER 202 ACHIEVEMENTS AND PERFORMANCE Summary of the Year a) Human Resources The part-time GrBnts Officer recruited in Ottober 2023 (officially employed by the St Giles in the Fields and William Shelton Education tharity but works for Bloomsbury United as well) chose to leave at the end of their 12-month pla￿ment through the 2027 programme. The Charity is proud to have given a recent graduate (aged under 25) valuable work expErien before they those to retum to their passion of teaching. The￿fore, the Charity chose to host another Associate through the 2027 programme, and they started in November 2024. This process has also developed very strong relationships with Westminster Almshou Foundation as the Grants offf￿r works part-time for them as well, so we hold joint superwsions. b) Govemance Towards the end of 2024, the aerk completed the Almshouse Awcration health theck designed to k)ok at key competencies acr055 all as[￿ of the organisation. The Charity rformed very well overall and there We￿ no areas of significant cOn￿M, although it did help identify a few areas for improvement. The Directors reviewed the results in earty 2025 and it has LEen retumed to the Almshou* Association for their infonnation. c) Grants During the Grants Review in 2022, the Directors agreed another priority around the provision of independent advi￿. Our existing parthership with St Andrew Holbom led to a new opportunity to collaborate in funding a (*neral Advisor role at Mary Ward Legal Centre (as advi￿ is a priority for them t￿). Although the applications were made to each funder separately we met to agree a joint apyroach in adVar￿ - our Charty is funding one-day per week for outreach work at Drag(￿ Hall and St Andrew HolLN)m is funding the other four days per weeL Page 5 RY NrrED TR FOR THE YEAR ENDED 3 - ACHIEVEMEKfs AND PERFORMANCE (Continued) Almshouse Accommodation The main pro￿rtY proiett planned for 2024 was the e¥terior ￿pair and ￿decorats.0n programme. The work started in March and the buildings were scaffolded at the end of Marth. The provisional end date was mid-may but due to wet weather over the spring the project was not finished until mid-june. The contractors were g(￿ and completed a number of additional minor improvements as well. Further cydical rnaintenan￿ works undertsken during the year were utyjrading of the fire alarTh panel and all the smoke and heat alarms through the Almshouses. There were also fire safety improvements made to the urKlerstsirs areas. The charity contracted the property maintenance of the almshouses to DARV who are an exF£rienced property management company who work wtth a number of almshou* charib"es. The Trust￿ conb'nued to ensure that the charity provides high quality almshouse properties by approving routine rna1ntenan￿ and minor repair5. The Trustee undert(x)k the annual review of the monthly Maintenan￿ contributron in autumn. Following an increase in 2024, they agreed that MMC would not rise in 2025. Alntshouse Welfa The Charity usually arrdThJes two social events for the residents and trust￿ each year- Summer Tea Party and Christmas Lunth. The Summer Tea Party vrds held in luty as usual it is always a ni￿ Occasi¢￿ to bring ttr residents and directors tQ3ether. As we have a small number of residents, we take thern out for Christma5 Lunth to one of the numerous restaurants nearby. It ￿as a large gathering of residents, dire(tors and other people connected with the charity and a very enjoyable aftern￿n. Page 6 LE -IN-THE-FIELD AND BLOOMS HA RT F THE TRusfEE ACHIEVEMENTS AND PERFORMANCE (Continued) Grdnt Making The cost-of-living crisis continues to mean that It was a challenging year for b)th Icol residents and local tharities, so our g￿ntrf￿aking is really impxtsnt. The grants budget for 2024 is smaller than last year bjt similar ta previous years (2023: £82,000). It was allocated and approved as follows. Budget £20,000 £8,000 Individual Grants Block Grants Newo nisation TOTAL £19,148 £3,000 £39 624 £61,772 rants £68,000 Grants to Charltles During the year, the charity awarded two new grants: Mary Ward Legal Centre: £31.624 over three years to contribute to the salary of a Generalist Advisor. They would provide an outreach advice Servi￿ at Dragon Hall fc* one day per week offering free advi￿ sessions on wdfare benefits, debt and housing. NEW Swlss Church London: £8,000 over one year to contribute to 'Breakfast on the steps,. This is a W￿klY b￿kfast Servi￿ for those affected by homelessness and ￿)verty for approx 80 guests per weeL OrKe a rn￿th, the￿ is a speaal hot breakfast and on a different day there is fr￿ haircuts. They also offer toiktries and a pea￿ful plaTr to ￿laX and unwind. Page 7 ILES-IN-THE-FIELD RY R THE YEAR ENDED 31- D 24 ACHIEVEMENTS AND PERFORMANCE (Continued) Grants to Charities (continued) In P￿ViouS years, the tharity has awarded multi-year funding tr the following organisations: Dragon Hall: £23,730 (£7,910 per annum for three years) in September 2021 (completed in October 2024). The grant COntrit￿ted to their Back to Nature Older People's prcgramme which induded a wide range of activities. Due to Covid the eaty focus was on outdoor activities at ph￿niX Garden and connecting with nathre, and offsits visits induding Kew Gardens and London Zco. During the third year of the projett 218 kEople attended at least one event and 66 ontroff events or regular activitEs were offered throughout the year. ShowerBox: £24,000 (£8,000 per annum for three years) in October 2022 to continue providing free and secure showers for the homeless group across London. They also give out toiletr￿s, underwear and other ewnb'als to ensure each day is less of a challenge for the vulnerable groups in society. Street Storage: £24,000 (£8,000 per annum for thr* years) in October 2022 to continue prov￿Ing free, ac￿SIble and secure storage for people experienang homelessness. This w• reduces people's vulneraL¥'lity while alone on the Street and prevents the physical strain of having to move with belonging5. C4WS Homeless Project: £24,000 (£8,000 per annum for three years) Tn October 2023. The grant contributes tr) the salaries of the Welfare team for thr￿ seasons of the Winter Night Shelter. The shelter provides emergency accomm(xlation for 16 people night for fNe months in churches across Camden r&xhing 6NO in one year. Each guest receives food, hospitality and a welfare package focusing on funding more pemianent accommcxlats'on as well as aSsiStsn￿ with applying for beneffts, employment and asylum. Soup Kitchen (Whitefield Charity SK Corporation): £24,000 (£8,000 per annum for three years) in October 2023. The grant contribJtes to the core (￿ts of the service. The Soup Kitchen Frovides hot mea15 Six days a week in the morning and also three evening means for an average of 200 people a day. They have brought in a psycholo3iSt who offer5 a dropin dinic twice a week and also offer toiletries and clothes when tty (xn. Page 8 OMSB RY NrrED HARrrY 2024 ACHIEVEMEKts AND PERFORMANCE (Continued) Grnnts to Individuals Block Grants The charity provbdes 'block grants. to partner organisations to distribute as small grants to their tEneficiaries (who also live in our area of benefft). We renewed grarts to one partner during the year: St Andrew Holborn - Awarded £3,000 in Octot The blc(k grant is used to matth or *opup' their individual grants (of £500) by up to £500 extra per person. They brought forward £1,851 into 2024 from a previous grant in 2023. They awarded five grants totalling £1,298 during JanUar￿septeMber 2024 so they re￿iVed another grant in Octo1￿r. In the final quarter of the year, they awarded another four grants totslling £744. They forward £2,809 into 2025. Changing Lives- Were awarded £8,000 in July 2023. They manage MOve￿)n accommodation to support formerly homeless people. They have 28 one-t£dr￿M flats where people live semi- irKlependently. New tenants receive kitchen applian￿ and a ted (but nothing for Itving rwm) which they tske with them when they move away. Our grants offer up to £500 per person to thoose furniture and soft fumishings to make the pla￿ f￿1 like'home,. This helps people move forward and have control over their future. They brought fO￿ard £8,812 into 2024 from a previous granL They awarded nine grants totslling £4,222 and carried forward £4,590 into 2025. Page 9 HARrrY REPORT OFT THE ED ACHIEVEMEKfs AND PERFORMANCE (Continued) St Glles Individual Grant Progrnmme The budget allocated for indiwdual grants in 2024 was £20,000 as tt has increased in response to demand. During 2024, the Charity approved £20.425 to 32 individuals (2023: £20,414 to 33 individuals) plus £100 annuity for the former Leverton (￿arIty. The actual cost of the grants awarded wa5 £19,048 as one grant was not taken up and savirnJs v￿e made when purchasing the ttems on behalf of the benefiaarie5. The average grant VRS £595 whith is only just LEk)w our maximum, ￿￿t several grants were alx)ve this as they may need more than one applIan￿/1teM of fumiture. This year 70 % of grantees lived outside our area of Iknefit (although usualty nearby) and were considered on a disu&ional basis. This is largely due to a growing relationship with St Pancra5 Welfare Trust who have a larger area of IEnefit but less funds. When they identify an applicant with additional ne￿1 they refer to us for an extra grant contribution. The figure {£18,628) in the accounts bel(yN show grants that were pa'KI during the year which may include grants ap￿0Ved in an earlier year. We continued to work in partnership with St ArKlrew HolL￿, with their Grants Offior undertaking grant assessments on our behalf. The majority of grants this year have teen for beds and mattresses and whits gwds Ixjt also stordge fijrniture and a sofa. The￿ have b￿n several requests for flcoring as this is not provided for new tenants in scrial housing, despite it often IEing a condition of their tenan￿. Also, this year there have teen severdl requests for genernl household set up costs as people move into new accommcdation with nothing. Page 10 MSBURY UNrrE REPORT FTHETR FOR THE YEAR ENDE ACHIEVEMENTS AND PERFORMANCE (Continued) FINANCE REVIEW Results for the Year Rentsl income is derwed from a commeraal Offi￿ Spa￿ in Covent Garden, 24125 Macklin Street. The current tenant sign8J a lfryear lease in Juty 2015 and has been an ex￿lIent tenant sin then. The net surplus for the year. after taking into acccKJnt the net gain on investment assets for the year of £98,768 (2023: net gains of £81,354) and net gains on investment property for the year of £50,000 (2023; nil), amounted to £39,820 (2023: surr4us of £36,041). Total income amounted to £177,274 (2023: £163.688) and included rentsl incDme in respect of the CharW5 prope￿eS amounting to £71,247 (2023: £71,385); £24,996 (2023: £23,247) from. dividends and interest of investsnents, and contributions from Residents amounting to £76,255 net of voids {2023: £65,006). Total expendibjre amounted to £286,222 (2023: £209,001) wtth £272,025 (2023: £204,308) being incurred on Charitable ActivitE5, £159,017 (2023: £68,859) of which was inojrred on the Almshouses, and £61,352 (2023: £84,733) on grants and annuities. Cost of Raising Funds amounted to £14,197 (2023: £4,693). Expertditure is anatysed in more detsil in Note 4 of the accounts. This has resulted in Unrestrittsl Funds at the year*nd of £399,089 (2023: £491.184) including £230,509 (2023.. £339,070) of Designated Funds, and Permanent Endowment Funds of £2,688,120 (2023: £2.556,205). The assets of the tharity comprise investrnent properties of £1,545,000 24125 Macklin Stree( London WC2, Investments of £1,220,￿ managed by Rathbones; different dep￿lt accounts totslling £327,734 via Charities Aid Foundation Deposit Hatform managed by Ragstone. arKJ cash balan￿ of £60,517 predominantly in the Current Account. Page 11 ILE IN-THE-FIELDS AND RY NrrED CHARITY RT OF THE TRUSTEE R THE YEAR ENDED 315r DE EMBER 20 FINANCE REVIEW (continued) Reserve5 Policy The Tru5t& has agreed that the charity should aim to hold reserves ￿u1valent to at least six months core running costs for the tharity, (induding the almshouses and the individual grants budget). The level of costs has been reviewed and UFKlated and the minimum level of reserves is £lOO,000. The charity has a numtw of designated funds, and these have b*n drawn on durtng the year rather than the general re*p4es (more in Note 15). The generdl reserves stand at E168,580 so the charitys reserves are slighuy higher than the target amount but no further acti￿ is needed. Investment Policy The Trustee has provided instruthons to the Investwt Brokers to manage the investment portfolio with a view to achieving a balanced retum letween capital gr￿ and income with a moderate risk profile. For 2024, the Trust￿ has instructed the Investment Brokers to manage the FL)rtfolio to protett the (real) value of the rEmianent endowment in the current environment of high inflation. Therefore, the charity will focus on f2Pital growth arKI not seek to generate income from dividends. This approach has been maintsined for 2025 and will be reviewed again for 2026. The Trust￿ reviews the ￿)￿0110 arKI cash balance5 on a regular basis. Page 12 BLO RY UNrrED CHARrrY RT F THE TRusfEE ER2 PRINCIPAL RISKS AND UNCERTAINTIES The Twstee considers risks in five key areas: strategy, governan￿ and management; operBtional. finanaal. environmental and extemal: and legal and statutory. All identified risks are as5e55éd for both likelihc& of (Mirren￿ arKI the tK)tential impact to give gross risk. Mitsgating controls are considerd. giving a net remaining risk. The risk management strategy foms part of the planning process, against which the Trustee revEWS rtsks formally every year. The charity needs to maintsin appropriate skills and commitment within its trustee Ixty. Failure to do so gives rise to the risk that the b)ard cannot operate effectively. The charity has estsblished a recruitment and induction process for new trustees and offers existing trustees access to a range of training optxxtuntties. The trustees undertTh)k a skills audit to review and agreed a 5kJ'115 action plan. The charity is tyendent upon tr£ instituknonal memory provided by the aer1(. Should the Clerk resign or retire, the charity risks losing access to key stakeholder retationships and knowledge. In future, the d)arty will seek to expand the way in wh￿h key stakeholder relationships are fflanaged so that these are shared more widely across the trustee body. The charity is reliant upon a limited number of income streams and could be subject to sudden loss of income, particula￿ arising from a void in rental of its property in Macklin Street. The charity attively monitors monthty income and seeks to identify any potential threats of future loss of income. In the coming wiod, the tharity will make finanaal plans for a future void at Macklin Street and assess the reserve5. The charity is dependent upon a third-party Su￿rier (DARV) for the rna1ntenan￿ of the almshouses, with significznt relian￿ on their expertise, knowledge and aC￿S to other contractors. A service-level agreement is in pla￿, arKI they deliver monthly reports on attivity. PLANS FOR THE FUTURE The aims ofthe Trus￿ irKlude: Almshouses- u￿late the fire dwrs throughout the ￿lIding5 Gt7nts - build patherships wlth otr￿r funders across Camden and with LB Camden to estsblish better working relationships and outcomes for local residents GOvernan￿- to refresh the website Investment Pr￿￿rtIeS - sign a new lease with the tenant at Macklin Street Almshouses- to prepare for the dtsjital switthover Page 13 LE IN-THE-FIELDS AND RY UNrrED HARrrY RT FTH R THE YEAR ENDED 31sf DECE srATEMENf OF TRusfEE'S RESPONSIBILrnES The Charivs Trustee is ￿sponSible f￿ preparing accounts for each financial year that give a true and fair view of the ChariV5 financial acbvities during the year and of its stste of affairs at the end of the year. In preparing the accounts, Trustee should follow best Practi￿ and: se￿t suitsble accounting poliaes and appty them consistently; make judgements and estimates that a￿ ￿SOnable and prudent; stste whether applicable accounting standards have been followed subject to any matsrial •• departures di5d05ed and explained in the accounts. prepare the accounts on the going C(￿￿rn basis unless it is inappropriate to presume that the (￿arity will continue to operate. The Trustee is resp)nsible for keeping proper accounting records which disdose with reasonable accuracy at any time the financial position of the Charfty and whith enable them to ensure that the accounts comply with the Charities Act 2011. They are also resrx)nsible for safeguarding t a55ets of the Charity and for tsking ￿sOna￿e steps for the prevention and detection of fraud and other irregularities. By order of the Tru5t* and 5igneJ on its behalf Revd Thomas Sander Chair of the Direttors of the corpordte TrLStee Page 14 NDEPENDENT EXAMINE 'REP MSBU Y UNrrED CHARrrY Independent examiner's report to the trustee of St Giles-in-the-Fields and Bloomsbury United Charity. I report to the trustee on my examination of the accounts of the St Giles-in-the-Fields and Bloomsbury United Charity (the Charity) for the year ended 31 December 2024. which (Dmprise the Statement of Finanaal Activities, the Balan￿ Sheet and relatej notes. This rew)rt is made to the Trustee, as a LNxty, in accordance with tenns of my engagement. My work has LEen undertaken so that I might (xrry out an Indep￿dent Examination of the financial ststements in accordan￿ with the General DIr￿tionS given by the Charity Commissioners. To the fullest extent pemitted by law, I do not accept or assume responsibility to anyone other than the tharty and the Charitys Twstée as a EK)dy ft)r my work or for this report. Responsibilities and basis of report As the tharty trustee of the Charity, you are resrmjnsible ts the weparation of the accounts in accordan￿ with the requirements of the ￿aritIeS Act 2011 (the Act,). The Chariivs Trustee considers that an audit is not required for this year (under Section 144(2) of the Charities Att 2011) and that an IndeperKdent Examination is rquired. I report in respeLt of my examination of the Chaiityrfs accnunts carried out under Secti￿ 145 of the 2011 Att and in carying out my exarninats.on I have foll(Med all applicable Directions given by the Charity Q)mmission under seth'on 145(5)(b) of the ACL Independent examIn￿S statement I have completed my examination. I ￿nfIrM that no material matters have come to my attenb'on in connection with the examirkltion gNing me cau* to believe that in any material re5pett: accounting records were kept In resF£rt of the Charity as required by section 130 of the Att; or the accounts do not accord with those records; or the accounts do not comply with the applicable requiremeT)ts Con￿rning the fom and content of accounts set out in the Charitses (Accounts and ReFDrts) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an IndeE￿ndent examination. I have no COn￿mS and have mme acTOSS no other matters in connettion with the examination •• to whith attention should be drawn in this rep)rt in order to enable a proper understanding of the accounts to be reached. Richard Billinghurst FCA Knox Cropper LLP artered Accountants 65 Leadenhall Street London EC3A 2AD 025 Page 15 Lnm Lnm D)N 115111 1 Page 16 IN-THE-FIE AND BALANCE SHEET ED I DECEMBER 24 24 20 FIXED ASSErs 1,545,lJXI 1,495,000 1132 343 2,765.806 2,627,343 Debtors Investments Cash at Bank and in Hand io li li 30,195 327,734 25,052 451,197 418,446 518,903 CREDrroRS Amount Falling Due Wrthin One Year 12 NET aiRREKf ASSErs 332,158 420,046 CREDrroRS Amunts falling d￿ after m￿e than one year (10,755) £3 087 209 £3 047 389 Represented UNRESTRIcfED FUNDS - c￿eral Funds - t)esignated Funds 15 15 168,580 152,114 339 070 399,089 2,688,120 491,184 2,556,205 PERMANErir ENDOWMErir 16 TOTAL FUNDS £3 047 389 Aptrned ty the Trustee on 2025 and sign&Y on thetr behalf. Revd T Sander Chair of Directors of the corwrate Trustee Page 17 IN-THE-FI OOMSBURY UNTfED C THE ACCOU FOR THE YEAR ENDED 31 DECEMBER 2024 ACCOUNTING POLICIES a) Basis of Preparation and Assessnent of golng concern The ￿)Unts have been [￿epar￿1 under the historical cost conventic*i with the exrytion of inVestm￿ts which are included at market value. The finarrfial statements have teen prepared in ac￿dan￿ with the Statement of R￿mma￿l I)racti￿. ACC￿nting and Rewrting by Charities preparing their accounts in acccYdan￿ with Financial Re[m)￿ng knndards applicatle in the UK and Reputlic of Ireland (FRS 102) and the Financial ReFthi'ng Standard applicable in the United Ingth and Republlc of Ireland (FRS 102) and the Charrties Act 2011. The Charity constitutes a publ￿ t￿nefft enttty a5 (kfjn&1 ty FRS 102. The Trustee considers that th8e are m materid urThtsinties ab)ut the tharivs ablllty to continue as a going concun. In fomiing this opinKM, it has Consider￿ the IM￿ of the ojrrent onomic dimate on the carying value c* its ass* and lia)ilrfoes and future income stwms and expenditure fcr a Deriod of at least twelve month5 frc¥n the date of aptyoval of financial statements. b) Funds G￿er&I funds rewewt the fund5 of the Charty that we not Subj￿ to any restricti￿5 regarding their use arKJ are available [(￿ applicati(￿ to the gerEral wrpjses of the Charity. Funds designated for a P￿.CUlar purtx)se by the Charity are unrestricted. Restrthd Funds ￿e ftJTrJs which are used in accordan￿ V•ith S￿ECtf￿ restricbons imrx68J by (kmrs or whith have te￿ raised by the Charity for a p￿tKular ExJr￿Se. c) Income All irK(¥ne ts recognised On￿ the ha5 entiUement to the ir￿OMe, it is probat￿e that the income vhll be recefved, and the amount of inclxne r￿Nable can be measwej reliabty. th)nations are r￿niSed when banked by or on beh* of the u￿rIty. Rental income is recognised on a 5trdight4ine basis over the lease tsm. The a9Jregate cost of lease incentwes is reccwised as a reducknon to Ir￿Me over the lease temi on a straight-llne basis. Dividend and interest irKome are ￿cOUnte￿I for ￿1Ved as is income tsx reCO￿￿b on such income. d) Expenditure Liabilities are recc*Jnised as expenditure as S(K￿ as thexe is a legal or constructFve ok4tgation cwmlttlng the tharity to that expenditure, it is probatAe that sdUeM￿t will be r￿uired, and the amount of the obligation can be measured rdiably. All expenditure 15 accounted for C￿ an accnJaLs basis. All expenses induding SUl¥XIrt cctsts ￿ sKNThnce costs are all(￿ated or apkx)rtyc￿ed to the ap￿iCa)le exFEnditure hthllngs. Page 18 GILES-IN-THE-FIELDS AND NOTES TO THE A ACCOUIITING POLICIES (continued) e) Investmurt Propwties tnvestsnent propwties are sta￿1 at fair value as deterMI￿j by the Trustee. Inveslrnents area form of basic financial inveStMenta￿ are initialty rÈrcwJnised at their transaction dlue and subsequartly measLral at fair vahje as at the balan￿ sheet date using the thsing quoted market pri￿. The statement of finanoal activities I￿kJdeS the net gains and losses arisirKJ on revaluatKffts and diSFrf)sals throughout the year. Realis&l gains and k)sses on investtnents ae calculata4 as the dfferen￿ btheen sales prrxeeds and their opening carying value or their PLTtha5e value if ￿Uired Subseq￿nt to the first day of the finandai ye2r. Unre2lised gairs and losses are Cat￿lated as the difference Ptheen the fair value at the year aKI and tt*lr ￿rryIng value. g) Current Assets and Liabilities All knovm current assets are Lywght into the accounts at the amounts ￿lch are eXp￿d to realise. All known liabilib'es are brought into accounts at th8r extELted cosL h) ￿gnIfi￿nt Management Judgements and Estimalim Un￿rtaIn￿e5 The following are the critical ijdS￿nents and W s￿r￿ of estimati1￿ unc*(ainty that the Trustee have made in the pr(w of applw'ThJ the d￿rity's accounting wliaes arKI that have the most stsJnficant eff￿ on the arnounts reo)gnisaJ in tr* financlal Stat￿n￿ts. Fair Value of Inv The 0￿rIty carrEs its Investm￿ propth at fair valu< with d)arYJes being reo)gnised in the ststement of Financial ktiviti&s. The Tnjstee has assessed the values based on current market rates and are of the opinion that ￿ fair Vall￿ of the investment prcwbes has not changed MaterkAl￿ SIn￿ the last extemal valuations as disck%èJ in Note 8 to the financial statements. Debtors we inrtially at the settkn￿t amount due after any trade discount offered. In restEtt of accounts where the￿ are indications that a debtor may impai￿1 or not wllectible, a provision is re0)r￿ based on b& estimates to redu￿ the rece￿able balance to the amount that is ex￿ed to be collected. Fact(xs considered in making a provtsion indude the historical paymw¢t and collecbon experi￿￿ and debtors, cr&it w(thiness. INCOME FROM INVEsfMEKrs 2024 2023 Funds Total Rents Receivable Dividends and Interest on Loan Stod( Intue5t R￿1Vable 71,247 24,996 583 96,826 71,247 24,996 583 96,826 71,385 23,247 95,196 Page 19 LE -IN-THE-FIELDS A THEA ED IDE MBER 2024 INCOME FROM CHARrrABLE AcmirrIES 2024 2023 Resident Maint￿tan￿ C￿1n1￿J￿j'OnS EXPENDfruRE ON 24 2023 Total RAISING FUNDS Furbds Tolal Legal and Profe55i(Thil Fees Insurance Investment Managers Fee5 900 2,641 710 CHARITABLE AcfIvTfiES Almshouse Expenditure Careline Repairs arKi Maintenan Cydical Rq)air5 Extraordinary repairs Mana3ement Fee Llght and Heat Water Rates aTrJ Cwncil Tax Insuran aeaning and SurKlries Welfare 2024 2023 2,082 8,734 112,999 5,407 7,920 10,556 1,358 2,316 2,377 2,082 13,883 28,026 7,920 5,181 1,736 3,663 159 017 Grnnts Annuity Grants to Individuals Grants to ctyni&2tions (Note 5) loo 18,628 loo 20,633 Support Costs Clerks Salary and knal Sethrty Grdnts Officer Legal and professK￿al Office ExkEns Almshou* Atyx1atic￿ Membershlp Fee 5undrles IrKlepend&rt Examination Bank Charges 32,822 1,257 6,371 5,143 343 252 5,057 411 32,850 2,158 7,305 2,890 196 89 4,817 411 No Director of the corpy)rnts trusLEe receNEd r￿Uneration. The Inde[￿t Examinati(￿ Fee amounte(I to £4,050 exduding VAT (2023: £3.950). Page 20 ILE HE-FIELD AND HARITY R THE YEA GRANTS TO ORGANISATIONS 2024 2023 C4WS* Changing LN &ngle Homeless l¥oi st Andrew Holbjm Swiss Church Whitefield thaiity SK (Swp IfjtttEn)' St Mary Ward* 24,000 5,¢J)O 3,000 3,000 24,OCrfJ 42,624 64,000 Multi-year grant avrdrds KEY MANAGEMEKf PERSONNEL Key Management PwsMnel is d&ineA as the Dir￿ of the CcTryate Trustee the aerk to the Trustee. None of the Drrect(Ys r￿1Ved any erTr)lUM￿ts. The emoluments crf the a8k to the Trustee, who served durirwj the year, were as follows.. 2024 2023 Emoluments 32,822 32,846 Totsl expenses reimbjrsed to the Directors 69 38 EMPLOYEE INFORMATION Thwe we no ern￿oYeeS receivd employee baths exce8Jing £60,OIxi (2023: ￿kne). The awage weekfy numtv C￿ pers￿5 (indudir*J the aa* to the Trustees) empk)yed d￿Ing the year was.. Office Staff The FfE of the weekly numLv of perS(￿S cirKl￿1ng the aerk to Trustee) em ￿0Yed during the year was: offi￿ Staff Staff Costs Wages and Salaries Pension Contritxjtio 32,162 660 32,822 32,186 32,846 Page 21 ILES-IN-THE-FIELDS AN THEA FOR THE YEAR ENDED 3 FAXED ASSEfs- INVESn4EKf PROPERTIES 2024 2023 At l January 2024 Revaluation At 31 DecemLY 2024 1,495,¢XQ 1,495,000 1545 000 The atthte is r4Yesented Lry the fc4k)wirKJ protHty: 24125 M*lin Street. LorKkn W(2 1,545,(KK) 24125 Macklin Street was revalued in 2025 by Fisher German LLP at £1,545,Om, wth the wcperty valuation as at 31 DeceMtr￿ 2024 upthtal accc*dirKJly and the resulting £50,000 gain on revaluation reflected in the Ststement of Finar￿131 ActNitie5 for the year to 31 D￿rntEr 2024. The valuaticn was c¥rfed out by a RICS Registered Valuer in acC￿d*￿ with 'PJCS valuati￿ - Professional Standards (incorporating the Intemational Valuation Stsndards) - Glcthl and UK edition published by The Royal Institution of (harteraj Surveyor5, effecbve from 31 JanLK3ry 2022),. The current commercial lease on thls propty Is due for renewal In Juty 2025. The Charity also the Freehdd (f 17A m￿MIn W LOrxI(￿ WC2, where the ChariV5 Almshouses are located. Thi5 prokty is inaliena)le a￿1 is not val￿￿ in the ￿CoUnts. FIXED ASSEfs INVEsfMENTS 2024 UnreStrIrt￿ Pemwnent Fun¢ts Endowment Total QUOTED INVESTMENTS 2023 Totsl Market Value at l January A(klitions Transfers Disposal Proceeds Unrealised/Realised Gains Market Value at 31 December 71,138 17,638 (1,570) (16,757) 1,061,205 1,132,343 1,012,813 263,117 280,755 223,203 (23.428) (24,998) (20,OCrfJ) (249,977) (266,734) (207,902) 74,991 1,118,679 1,193,670 1,077,952 Brokw Cash Ba￿n￿$ 76,696 1,144,110 1,220,806 1,132,343 In additKM) to the above, there is £26,464 of Lnrealised gain recogni5ed on the SOFA in connection with the CAF Derog"t platfom Ind￿ed vithin current assets. 10. DEBTORS 2024 2023 R￿tal Income R￿Vable Trade Deb Prepayments 6,388 23,807 15,151 6,997 Page 22 -IN-THE-FIELD AND MSB HA R THE YEAR ENDED 31 DECEMBER 202 11. CASH AT BANK AND IN HAND 2024 2023 Current Account Deposit Account 60,517 327 734 42,654 451197 12. CREDrroRS: Amounts falling due within l Year 2024 2023 Qx)nected Charity (Note 14) Trade Creditors Grants payable arhj def￿￿1 inciNne 9,326 (1,741) 9,673 (2,979) 13. CREDrroRS: Amounts falling due after more than one year 2024 2023 Grants Payable 14. CONNECTED CHARMES The St Giles-jn-thtr￿￿dS Parcthial ch¥￿S which comwise: st Giles-in-th&￿eIdS and Willkim shdt(￿'S EdLKational Fc￿n(￿￿.On St Giles-in-th&fields and Bkxmnsixry lthited Charity are related bethuse have common Dir￿tOrS, alth￿Qh a)y trar6attions tEtween the tharities are at ami's I￿gth. St Giles-in-th*Fidds and William ￿tOn Charity incurred costs on L￿halF of St Giles- in-the-FElds and BkJ)msbury United Qkirty wfKxJntlng to £49,920 (2023: £36.543). £9,326 (2023: £9.673) was due to be paid at the year end. Page 23 IL -IN-THE-FIELDS AND RY NrrED NOTES TO THE ACCOUNTS Conti R ENDED IDE 15. UNRESTrICTED FUNDS At l January 2024 TransFer BE*w*n Funds At 31 Decamber 2024 in Funts Unrestrlrted Funds eral Funds 152 114 152,114 31,579 {15,113) 168,580 Deslgnated Funds ERF CMF RWF 100,031 174,352 (5,407) (112,999) 5,562 9,551 100,186 70,904 339.070 (123,674) 15,113 230,509 At 31 December 2024 399 089 The tharity maintsin5 two de&gnated funds set up to cary ￿Jt mw re￿31r5 arKI cydical maintenan at its Almshouses. The fijnds are detsil8J below. Extracrdinary Repair Fu￿1 (ERF)-This ts a reserve for future majLY exF8)diture to which trans are made from the ￿eral Fund. It can be dravffl wn to meet major It￿ of repair a5 agreed by the Board. Cyclical MaIntena￿e Fund {CMF) - This fund, to whith transfers are made from the General Fund, Is to meet Maintenan￿ ￿curring at regular inttrvals. For examp￿, intemal {refurtMshing kitchens and bathr￿MS), extemal redeoThtion and the o)st of profeSs￿n01 5uth as for Quinquennial Inspections. Residents Wdfare Fund (Rvffj - Ths fvnd will (ffer SUPFXYt to Am5hou5e residents at the discretion of the Trust￿. It can covw a rarrfje of general suptM)rt for all alMSh￿Jse residents ￿ support for S[Erif￿ resident. The ERF CMF are to￿ up each year from the unrestric￿1 re5erve5 ba￿1 on ￿dgeted fuure5, with transfers in 2024 £5,561 and £9,551 wthly. Page 24 ILE IN-THE-FIELDS AND RY NITED HARrrY BER 2024 16. NEf ASSEfs BEfwEEN FUNDS Pern￿nent Endowment Funds Total 1,545,0 1,143,120 1,545,000 1,220,806 418,446 Qucted Investments Current Assets Creditors 77,686 418,446 2 688 120 3 087 209 17. UNrrs IN MANAGEMEtir At 31 Decemter 2024 arKJ at 31 tknmtEr 2023. the tharity had el￿t units of Almshouse 18. CONllllGENT LIABILrrIES At 31 Dec8nber 2024, there v￿e rK> krw contirvJent I￿￿'litIeS. 19. CAprrAL COMMrrMENTS 2024 2023 Capital eXp￿ndItUre that has been ciMtr&tal for but ￿t provKJed for in the Fina￿la1 Staternents 20. RELATED PARTY TRANSAcfIoNS There are m relat8J party tran￿lOnS ft)r 2024.