Charity number: 1118654
ANGLO AUSTRALIAN CHRISTIAN &
CHARITABLE FUND
FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024
LUBBOCK FINE LLP
Chartered Accountants
Paternoster House
65 St Paul's Churchyard
London EC4M 8AB

ANGLO AUSTRALIAN CHRISTIAN & CHARITABLE FUND
CONTENTS
Page
Reference and administrative details of the Charity, its Trustees and advisers
Trustees. report
Independent Auditors. Report
7-10
Statement of financial activities
Balance sheet
12
Statement of cash flows
13
Notes to the financial statements
14-24

ANGLO AUSTRALIAN CHRISTIAN & CHARITABLE FUND
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 MARCH 2024
Trustees
Peter William Jamieson
Willy Schaper-Kotter
Carine Martinez
Angelo De Lubio Feril
John Kapend Tshiyamb
Charity registered
number
1118654
Principal office
211 Pacific Highway
St Leonards
NSW
Australia
2065
Chief executive officer
Peter William Jamieson
Independent auditors
Lubbock Fine LLP
Chartered Accountants & Statutory Auditors
Paternoster House
65 St Paul's Churchyard
London
EC4M 8AB
Bankers
Westpac Banking Corporation
275 Kent Street
Sydney
New South Wales
2000
Page 1

ANGLO AUSTRALIAN CHRISTIAN & CHARITABLE FUND
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 MARCH 2024
The Trustees present their annual report together with the financial statements of the Anglo Australian Christian
and Charitable Fund (the Charity) for the year from 1 April 2023 to 31 March 2024. The Trustees confirm that the
Annual Report and the financial statements of the Charity comply with the current statutory requirements, the
requirements of the Charity's governing document and the provisions of the Statement of Recommended
Practice ISORPI, applicable to charities preparing their accounts in accordance with the Financial Reporting
Standard applicable in the UK and the Republic of Ireland (FRS 102) (effective January 2019).
Reference and administrative details
Reference and administrative details are shown in the schedule of members of the board and professional
advisors on page 1 of the financial statements.
The Trustees
The Trustees who served the charity during the year were as follows..
Peter William Jamieson
Willy Schaper-Kotter
Carine Martinez
Angelo De Lubio Feril
John Kapend Tshiyamb
Structure, governance and management
The Anglo Australian Christian and Charitable Fund is an unincorporated charity, constituted by a Trust Deed,
dated 14 November 2006.
The Charity is run by a Board of Trustees, detailed above. The Trustees meet regularly to review performan￿ of
the Charity, consider risks and issues affecting the Charity, and to review the fijture plans of the Charity.
Appointment of new Trustees is governed by the Trust Deed of the Charity. The members of the Board of
Trustees are authorised to appoint new trustees to fill vacancies arising through resignation or death of an
existing Trustee. The new Trustees are briefed about their duties by the current Trustees.
Remuneration of key management personnel is set and reviewed by the Trustees.
The Trustees actively review the major risks the Charity fa￿S on a regular basis. The Trustees have also
examined other operational and business risks fa￿d by the Charity and have established systems to mitigate
these risks.
In 2020 the Trustees developed a Governan￿ and Policy Manual to improve and streamline overall systems and
governan￿ practice.
Objectives and activities
The objectives of the Charity are to make payments for the charitable purposes of advancing the Christian
religion and religious education.
The short and long tem objectives of the Charity during the year were to use donations received to make
charitable distributions in furtherance of the charity's objectives. The donations are made to individuals and
organisations, including educational establishments, who promote the Christian religion. This is the strategy that
the Charity has been using to further its aims, with the Trustees deciding which individuals and organisations to
pay money to.
In establishing the objectives and activities of the Charity, the Trustees have given careful consideration to the
Charity commission's guidance on public benefit.
Page 2

ANGLO AUSTRALIAN CHRISTIAN & CHARITABLE FUND
TRUSTEES. REPORT {CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
The two main criteria which the Charity uses to measure Suc￿sS (ie. Its key performance indicators) are the
volume of donations received and donations paid to further the Charity's objectives.
Achievements and Perforniance
During the year the Charity received total donations of £nil (2023.. £nil), and made payments of £922,077 (2023=
£673,944) for advancement of Christian Education and Christian mission and other related purposes including
scholarships.
The Charity held investments at the balan￿ sheet date of £29,600,535 (2023". £27,988,353) and received
income from these investments of £576,474 {2023'. £799,409). In relation to the investments held, the charity
aims to benefit from the maximum possible capital gains as well as investment income received. It is expected
that the value of the investments as well as income received from them will fluctuate year on year. The Trustees
regularly monitor the investment performance of the Charity.
Income has been strong recovering from the challenges the effect of COVID had upon the share market and
subsequent dividends received by the Charity.
The Charity continues to place priority on the development of the two schools it supports, The Kings College
Lubumbashi, the Democratic Republic of the Congo and The International Chinese School, Chatswood, Sydney,
Australia. Progress of both schools over the reporting period, as well as other charitable projects, are
summarised below"
Kin
s Colle
King's College had a successful 2023124 school year, we are pleased and remain in high spirits for a successful
new year ahead.
Kings College is the top performing school in the region. This was acknowledged by the Government in their
choosing of Kings College to feature in their national opening of the school year which was publicised over
national media outlets.
Around 900 student were enrolled for the academic year, spread across the Maternity, Primary and Secondary
Schools.
The Stage 4 building project, secondary specialist classroom block, was completed during 2023. Further, the
land assets of the School were protected with a masonry block wall built around the perimeter of the nearby
King's land that it is envisaged a university will be built upon. Future building planned works include a Multi-
Purpose Hall to meet whole school assembly and PEISporting needs. A further parcels of land have been
purchased with a third under consideration. This will facilitate the ongoing growth of the College.
In the final exams, King's College achieved notable success, with all nine senior students passing their final
exams. King's College were proud of these results and the dedication of students and staff.
The King's College community continues to praise God for his continued hand of blessing upon the School.
International Chinese School
While no financial grants proved necessary in the 2024 reporting period, the Charity continued its support of the
International Chinese School (ICS) a Christian school of the Anglican persuasion on the Lower North Shore of
Sydney, NSW, Australia.
The School saw significant growth over the 12 month period, with enrolments with 83 students from Kindergarten
to Year 6. While most children are from families of Chinese heritage, the number of families from other cultural
backgrounds has expanded, including those with Caucasian, South American, and other Asian heritage. Most
children arrive at the School with no background in the language, and the 50150 ChineselEnglish bilingual
immersion program is reflected in the students growing mastery of Mandarin.
Page 3

ANGLO AUSTRALIAN CHRISTIAN & CHARITABLE FUND
TRUSTEES. REPORT {CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
In the National literacy and numeracy standardised testing (students Years 3 and 5) the School outperformed
local schools of both the public and private sectors and were among the top performing Schools in the state.
This supports research findings which assert that leaming a second language stimulates brain development and
makes better all-round learners.
With the completion of all three development stages, ICS became fully operational on the St Leonards site. The
School has enjoyed growing positive relationships with local council and other public users of the precinct which
places the School in a strong position to see the conditions modified and allow the continued operation of the
School on the site beyond the present final date.
Literacy levels in Chinese were also impressive highlighted by our students, perforMan￿S in the Hello Mandarin
Chinese Public Speaking Competition. Over half of our students come to school with no background in the
language and the immersion program implemented by the School is reaping dividends.
The School nurtured mission partnerships with local Anglican churches and churches made its facilities available
for a number of significant school events, and children's ministry workers have presented biblical teaching to
students on occasion.
Parents are actively involved in the School, and the Chinese Mid-Autumn organised by the Parents and Friends
Association proved a wonderfvjl ￿lebratiOn of the school community with over 250 in attendan￿ on the evening.
The School values the ongoing support of the AACCF, in particular the advice and support provided by the
charity's CEO.
Philippines
The support of pastoral work in the Philippines has seen significant growth in churches in the area. Church
planting, through Metro Church Dumaguete, continues to expand an additional funding was provided to support
the growing pastoral support needs. Further, an additional scholarship was made available to a student who is at
university studying to join the poli￿ force.
Kenya
Support has been provided to the Church Commissioners of Kenya to support Christian ministry around the
nation's capital, Nairobi. In particular, the Charity has supported the outreach mission of St Prisca's Anglican
Church as they seek to minister to impoverished families who live on the outskirts of the city-
South Pacific
Over the past year, Philippe Pinero and his team from Wycliffe Associates have been deeply involved in Bible
translation, church ministry, and school engagement across the Pacific region. Bible translation projects into
indigenous groups, mother tongue are in planning or process in Vanuatu, Fiji, Solomon Islands, Papua New
Guinea IPNG}, New Caledonia.
The Charity has supported the growth and development of Christian Education in the Pacific Region. The
Charity's Educational and Business Consultant visited the islands of Vanuatu and Fiji late in the year. He had the
opportunity to speak with Christian education networks and political representatives in both island nations. As a
result the charity has an emerging focus on supporting the Protestant School Group in Vanuatu, who run over 40
under resourced schools providing education to some of the most disadvantaged communities in regional areas.
General
Other general support projects have included..
Ambassadors for Christ International with their worldwide gospel centred program, 'Evangelism Shift,.
Chaplaincy to the emergency services, Toledo USA.
European Mission, with their ministry and Church planting work in Germany.
Sports ministry Chaplain in England
Power to Change in support of its Chaplaincy work in secondary sch¢X)Is in socially disadvantaged areas of
Sydney, Australia.
Financial support for returned missionaries who through their service have limited means as they transition
back into Western Society.
Page 4

ANGLO AUSTRALIAN CHRISTIAN & CHARITABLE FUND
TRUSTEES. REPORT {CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Financial review
During the year the Charity generated a surplus of £1,048,327 (2023.. deficit of £4,609,904) which arose due to
the gain on the revaluation of investments. As at 31 March 2024 the Charity had unrestricted funds of
£30,829,761 {2023.' £29,781,434).
It is the policy of the Trustees to continue to build reserves and use the funds to make donations for charitable
purposes. The level of donations made by the charity fluctuates year on year depending on availability of funds
and need. In addition, fixed costs are kept to a minimal level and are usually funded by investment income raised
in the year. As such, the funds CUrren￿Y held are in line with the Charity's cash reserve policy.
The Charity's cash reserve policy states a minimum 5 % of grant funding for the subsequent 12 month period be
held as Cash at hand. This allows for monies to be available for variations in capital project costs, unexpected
expenses incurred by the charity (eg. legal) and additional grants throughout the year as application5 arrive and
are accessed.
Given the Charity's support of the further development of Kings College, Lubumbashi, DR Congo, on occasion
cash reserves may greatly exceed this 5 %. These excess funds are held in reserve for future capital works
projects that may be required by the College.
The principal risks which affect the Charty's future financial position are an adverse movement in the value of
investments held. The global COVID-19 pandemic saw a significant drop in the value of the Charity's
shareholdings but this has Sin￿ bounced back to above pre-COVID levels. Further, adverse movement in the
exchange rate be￿een the Australian dollar and the British Pound presents a further potential principal risk.
These risks are monitored by the Trustees.
Plans for future periods
The Trustees remain committed to advancing the Christian religion and religious education and intend to
continue using donations re￿iVed to make charitable distributions to further this advancement. The charity has a
number of individuals and organisations with shared objectives which it intends to continue to fund so as to
further its aims. The Trustees have experience in working with these individuals and organisations and anticipate
to continue funding them in order to promote the Christian faith.
The major focus of the AACCF into the fijture continues to be supporting the growth of the Kings College,
Lubumbashi, DR Congo. The AACCF aims to see the Kings College grow to become the leading educational
institution in the region, providing quality education based firmly on a Christian worldview and associated values.
This will equip moral and Godly leaders to shape the future of their country Objectives for Kings College include=
A school of 1,500 students Prep- Secondary schooling.
Continue the College building program to provide quality educational facilities for students.
Development of sporting grounds on additional land that has been purchased.
Maintain affordability of fees to ensure the education is accessible to the general population.
Employment of qualified, capable Christian teachers.
Estalishment of a Christian University.
The Charity's shares continued to be in a strong position during the reporting period. The share portfolio was
valued at £26,963,363 as at 11 July 2024, a decrease of 17.5 % from the same time last year. The share market
is showing signs of volatility and the Tnjstees monitor this and discuss its impact at meetings of the Board of
Trustees.
The Anglo Australian Christian and Charitable Fund remains committed to its objectives, especially in relation to
the establishment and support of Christian Schools worldwide. According to the Funds available the Charity will
consider other causes into the future as it seeks to continue its global focus.
Page 5

ANGLO AUSTRALIAN CHRISTIAN & CHARITABLE FUND
TRUSTEES. REPORT {CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Statement of Trustees. responsibilities
The Trustees are responsible for preparing the TrUSt￿s, report and the financial statements in accordance with
applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting
Practice).
The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for
each financial year which give a true and fair view of the state of affairs of the Charity and of its incoming
resources and application of resources, including its income and expenditure, for that period. In preparing these
financial statements, the Trustees are required to=
select suitable accounting policies and then apply them consistently.,
observe the methods and principles of the Charities SORP (FRS 102)"
make judgments and accounting estimates that are reasonable and prudent..
state whether applicable UK Accounting Standards (FRS 102) 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 in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain
the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity
and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity
(Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for
safeguarding the assets of the Charity and hen￿ for taking reasonable steps for the prevention and detection of
fraud and other irregularities.
Approved by order of the members of the board of Trustees on and signed on their behalf by..
Peter William Jamieson
Trustee
Date: 19 December 2024
Page 6

ANGLO AUSTRALIAN CHRISTIAN & CHARITABLE FUND
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF ANGLO AUSTRALIAN CHRISTIAN &
CHARITABLE FUND
FOR THE YEAR ENDED 31 MARCH 2024
Opinion
We have audited the financial statements of Anglo Australian Christian & Charitable Fund (the 'charity') for the
year ended 31 March 2024 which comprise the statement of financial activities, the balance sheet, the statement
of cash flows and the related notes, including a summary of significant accounting policies. The financial
reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting
Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK
and Republic of Ireland, (United Kingdom Generally AC￿pted Accounting Practi￿).
In our opinion the financial statements..
give a true and fair view of the state of the charity's affairs as at 31 March 2024 and of its incoming
resources and application of resoUr￿S for the year then ended.,
have been properly prepared in accordan￿ with United Kingdom Generally Accepted Accounting
Practice., and
have been prepared in accordan￿ with the requirements of the Charities Act 2011.
Basis for opinion
We conducted our audit in accordance with Intemational Standards on Auditing (UK) (ISAS (UK)) and applicable
law. Our responsibilities under those standards are further described in the Auditors, responsibilities for the audit
of the financial ststements section of our report. We are independent of the charity in accordance with the ethical
requirements that are relevant to our audit of the financial statements in the United Kingdom, including the
Financial Reporting Council's Ethical Standard, and the provisions available for small entities, in the
circumstances set out in note 1.1 to the financial statements, and we have fulfilled our other ethical
responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is
sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the Trustees. use of the going concern basis of
accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or
conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going
con￿rn for a period of at least trrfelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the
relevant sections of this report.
Other information
The other information comprises the information included in the annual report other than the financial statements
and our auditors, report thereon. The Trustees are responsible for the other information contained within the
annual report. Our opinion on the financial statements does not cover the other information and, except to the
extent otherwise explicitly stated in our report, we do not express any form of assuran￿ conclusion thereon. Our
responsibility is to read the other information and, in doing so, consider whether the other information is
materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or
otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material
misstatements, we are required to determine whether this gives rise to a material misstatement in the financial
statements themselves. If, based on the work we have performed, we conclude that there is a material
misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Page 7

ANGLO AUSTRALIAN CHRISTIAN & CHARITABLE FUND
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF ANGLO AUSTRALIAN CHRISTIAN &
CHARITABLE FUND (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Matters on which we are required to report by exception
We have nothing to report in respect of the following matters where the Charities (Accounts and Reports)
Regulations 2008 requires us to report to you if, in our opinion..
the information given in the Trustees. report is inconsistent in any material respect with the financial
statements., or
sufficient accounting records have not been kept- or
the financial statements are not in agreement with the accounting records and returns., or
we have not received all the infomiation and explanations we require for our audit.
Responsibilities of trustees
As explained more fully in the trustees, responsibilities statement, the Trustees are responsible for the
preparation of the financial statements which give a true and fair view, and for such internal control as the
Trustees determine is necessary to enable the preparation of financial statements that are free from material
misstatement, whether due to fraud or error.
In preparing the financial statements, the Trustees are responsible for assessing the charity's ability to continue
as a going concern, disclosing, as applicable, matters related to going concern and using the going concern
basis of accounting unless the Trustees either intend to liquidate the charity or to cease operations, or have no
realistic alternative but to do so.
Auditors. responsibilities for the audit of the financial ststements
We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordan￿ with
the Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assuran￿ about whether the financial statements as a whole are free
from material misstatement, whether due to fraud or error, and to issue an auditors, report that includes our
opinion. Reasonable assurance is a high level of assuran￿, but is not a guarantee that an audit conducted in
accordance with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise
from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be
expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures
in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities,
including fraud. The extent to which our Pro￿dureS are capable of detecting irregularities, including fraud is
detailed below..
In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and
noncompliance with laws and regulations, we considered the following:
Errquiries of management, including obtaining and reviewng supporting documentation, Con￿rning the
charity's policies and procedures relating to..
identifying, evaluating and complying with laws and regulations and whether they were aware of any
InStan￿S of non-compliance
detecting and responding to the risks of fraud and whether they have knowledge of any actual,
suspected or alleged fraud., and
the internal controls established to mitigate risks related to fraud or non-compliance of laws and
regulations., and
Page 8

ANGLO AUSTRALIAN CHRISTIAN & CHARITABLE FUND
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF ANGLO AUSTRALIAN CHRISTIAN &
CHARITABLE FUND (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Discussions among the engagement team regarding how and where fraud might occur in the financial
statements and any potential indicators of fraud. The engagement team includes audit partners and staff
who have extensive experience of working with charities in similar sectors and this experience was relevant
to the discussion about where fraud risks might arise.
We also obtsined an understanding of the legal and regulatory framework that the charity operates in, focusing
on provisions of those laws and regulations that had direct effect on the determination of material amounts and
disclosures in the financial statements. The key laws and regulations we considered in this context included the
UK Charities Act, Charities SORP and FRS 102.
In addition, we considered provisions of other laws and regulations that do not have a direct effect on the
financial statements but compliance with which may be fundamental to the charity's ability to operate or to avoid
a material penalty-
As a result of these procedures, we considered the particular areas that were susceptible to misstatement due to
irregularities, including fraud were in respect of income recognition and classification, unrecorded grant
commitments, validity of grant expenditure, transactions with related parties and noncompliance with Charity
Commission guidelines. Our prO￿dureS to respond to risks identified included the following..
Reviewing the financial statement disclosures and testing to supporting documentation to assess compliance
with provisions of relevant laws and regulations described as having a direct effect on the financial
statements.,
Enquiring of management con￿mIng actual and potential litigation and claims.,
Performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks
of material misstatement due to fraud..
Reading minutes of meetings of those charged with governance, and in particular reviewing for any
unrecognised grant commitments.,
Performing completeness testing to verify income recognition;
Verifying income to supporting documentstion on a sample basis to confirm classification,.
Performing an after date review to assess the need to recognise additional grant commitments;
Reviewing supporting documentation for a sample of expenditure, ensuring the purpose of grant is in line
with charity objects,.
Obtaining a full list of related parties and verifying completeness of this list based on our knowledge.
Comparing the list to transactions during the year to verify that all related party disclosures have been
appropriately made in the financial statements and that the transactions with related parties are in line with
the Charity's governing document.,
Awareness throughout the audit for noncompliance with Charity Commission guidelines including reviewing
any correspondence with the Charity Commission.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including
those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk
increases the more that compliance with a law or regulation is removed from the events and transactions
reflected in the financial statements, as we will be less likely to become aware of InStan￿S of non-compliance.
The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves
intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities for the audit of the financial statements is located on the Financial
Reporting Council's website at.. www.frc.or
-ukJauditorsres
onsibilities. This description forms part of our
auditors, report.
Page 9

ANGLO AUSTRALIAN CHRISTIAN & CHARITABLE FUND
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF ANGLO AUSTRALIAN CHRISTIAN &
CHARITABLE FUND (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Use of our report
This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities
(Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the
charity's trustees those matters we are required to state to them in an auditors. report and for no other purpose.
To the fullest extent pemiitted by law, we do not ac￿pt or assume responsibility to anyone other than the charity
and its trustees, as a body, for our audit work. for this report, or for the opinions we have formed.
FitsL UI
Lubbock Fine LLP
Chartered Accountants & Statutory Auditors
Paternoster House
65 St Paul's Churchyard
London
EC4M 8AB
Date:
19 December 2024
Lubbock Fine LLP are eligible to act as auditors in temis of section 1212 of the Companies Act 2006.
Page 10

ANGLO AUSTRALIAN CHRISTIAN & CHARITABLE FUND
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 MARCH 2024
Unrestricted
funds
2024
Total
funds
2024
Total
funds
2023
Note
Income from:
Investments
576,474
576,474
799,409
Total income
576,474
576,474
799,409
Expenditure on:
Charitable activities-
Grants paid
Support costs
Foreign currency losses
922,077
93.645
1,526,043
922,077
93,645
1,526,043
673,944
86,918
1,660,503
Total expenditure
2,541,765
2,541,765
2,421,365
Net movement in funds before other recognised
losses
(1,965,291) (1,965,291) {1,621,9561
other recognised gainsl(losses):
Gainsl(Losses} on revaluation of investments
10
3,013,618
3.013,618
{2,987,9481
Net movement in funds
1,048.327
1,048,327
{4,609,9041
Reconciliation of funds:
Total funds brought fotward
Net movement in funds
29,781.434
1,048,327
29,781,434
1,048,327
34.391,338
{4,609,9041
Total funds carried forward
30,829,761
30,829,761
29,781,434
All income and expenditure in 2023 and 2024 related to unrestricted funds.
The notes on pages 14 to 24 fomi part of these financial statements.
Page 11

ANGLO AUSTRALIAN CHRISTIAN & CHARITABLE FUND
BALANCE SHEET
AS AT 31 MARCH 2024
2024
2023
Note
Fixed assets
Investments
29,600,535
27,988,353
29,600,535
27,988,353
Current assets
Debtors
11
198.917
1,756.274
1,284,769
1,344,133
Cash at bank and in hand
1,955.191
2,628,902
Creditors.. amounts falling due within one
year
12
(725.965)
1835,8211
Net current assets
1,229,226
1,793,081
Total net assets
30,829,761
29,781,434
Charity funds
Unrestricted funds
13
30,829,761
29,781,434
Total funds
30,829,761
29,781,434
The financial ststements were approved and authorised for issue by the Trustees and signed on their behalf by..
Peter William Jamieson
(Trustee)
Date: 19 December 2024
The notes on pages 14 to 24 fom part of these financial statements.
Page 12

ANGLO AUSTRALIAN CHRISTIAN & CHARITABLE FUND
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2024
2024
2023
Note
Cash flows from operating activities
Net cash (used inllprovided by operating activities
15
1111,0921
112,203
Cash flows from investing activities
Dividends and interest from investments
PrO￿edS from sale of investments
523,233
765,710
71,294
Net cash provided by investing activities
523,233
837,004
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
412,141
949,207
1,344,133
394,926
Cash and cash equivalents at the end of the year
16
1,756,274
1,344,133
The notes on pages 14 to 24 form part of these financial statements
Page 13

ANGLO AUSTRALIAN CHRISTIAN & CHARITABLE FUND
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Accounting policies
1.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP {FRS 102)
Accounting and Reporting by Charities.. Statement of Recommended practi￿ applicable to charities
preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK
and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard
applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
Anglo Australian Christian & Charitable Fund meets the definition of a public benefit entity under FRS
102. Assets and liabilities are initially recognised at historical cost or transaction value unless
otherwise stated in the relevant accounting policy.
The audit has been undertaken in accordance with the requirements of the FRC'S Ethical Standard,
including the Provisions Available for the Audit of Small Entities. The Charity uses the auditor,
Lubbock Fine Chartered Accountants, to assist with the preparation of the financial statements from
books and records.
1.2 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 as income when pledged or if no pledge has been made then on receipt.
Where a donor specifies a time period in which the donation can be used, donation income is
recognised in that period. Donations re￿iVed with imposed restrictions are classified as restricted
funds.
Donated investments are recognised as income at their market value on the date they were gifted.
Dividend income is recognised on the date dividends are declared.
1.3 Expenditure
Expenditure is recognised On￿ there is a legal or constructtve obligation to transfer economic benefit
to a third paty, it is probable that a transfer of economic benefits will be required in settlement and
the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs
of each activity are made up of the total of direct costs and shared costs, including support costs
involved in undertaking each activity- Direct costs attributable to a single activity are allocated directly
to that activity. Shared costs which contribute to more than one activity and support costs which are
not attributable to a single activity are apportioned be￿een those activities on a basis consistent with
the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation
charges allocated on the portion of the asset's use.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the
Charity's objectives, as well as any associated support costs.
Support costs are those costs incurred directly in support of expenditure on the objects of the charity
and include project management carried out at Headquarters. All support costs are allocated to the
one grant making activity of the charity.
Page 14

ANGLO AUSTRALIAN CHRISTIAN & CHARITABLE FUND
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Accounting policies (continued)
1.3 Expenditure (continued)
Grants payable are charged in the yearwhen the offer is made ex￿pt in those cases where the offer
is conditional, such grants being recognised as expenditure when the conditions attaching are
fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a
commitment, but not accrued as expenditure.
The charity was not VAT registered in the UK during the year and therefore all expenses are inclusive
of any VAT which cannot be fully recovered. However the Charity does claim Goods Sales Tax on
purchases in Australia.
1A Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in
furtherance of the general objectives of the Charity and which have not been designated for other
purposes.
Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular
purposes. The aim and use of each designated fund is set out in the notes to the financial
statements.
Restricted funds are funds which are to be used in accordan￿ with specific restrictions imposed by
donors or which have been raised by the charity for particular purposes. The costs of raising and
administering such funds are charged against the specific fund. The aim and use of each restricted
fund is set out in the notes to the financial statements.
1.5 Investments
Fixed asset investments are a form of financial instrument and are initially recognised at their
transaction cost and subsequently measured at fair value at the Balance Sheet date, unless fair value
cannot be measured reliably in which case it is measured at cost less impairment. Investment gains
and losses, whether realised or unrealised, are combined and shown in the heading 'Gainsl(losses)
on investments, in the Statement of Financial Activities.
1.6 Interest receivable
Interest on funds held on deposit is included when re￿1vable and the amount can be measured
reliably by the charity,. this is nomially upon notification of the interest paid or payable by the Bank.
1.7 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered.
Prepayments are valued at the amount prepaid net of any trade discounts due.
1.8 Cash at bank and in hand
Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity
of three months or less from the date of acquisition or opening of the deposit or similar account.
Page 15

ANGLO AUSTRALIAN CHRISTIAN & CHARITABLE FUND
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Accounting policies (continued)
1.9 Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at rates
of exchange ruling at the reporting date.
Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the
transaction.
Exchange gains and losses are recognised in the Statement of Financial Activities.
Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past
event, it is probable that a transfer of economic benefit will be required in settlement, and the amount
of the settlement can be estimated reliably. Liabilities are recognised at the amount that the charity
anticipates it will pay to setue the debt or the amount it has received as advanced payments for the
goods or services it must provide. Provisions are measured at the best estimate of the amounts
required to settle the obligation. Where the effect of the time value of money is material, the provision
is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects
the risks specific to the liability. The unwinding of the discount is recognised within interest payable
and similar charges.
1.11 Financial instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial
instruments. Basic financial instruments are initially recognised at transaction value and subsequently
measured at their settlement value with the ex￿ptIOn of bank loans which are subsequently
measured at amortised cost using the effective interest method.
Investment income
Unrestricted
funds
2024
Total
funds
2024
Total
funds
2023
Investment income
576,474
576,474
799,409
576,474
576,474
799,409
Total 2023
799,409
799,409
Page 16

ANGLO AUSTRALIAN CHRISTIAN & CHARITABLE FUND
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Analysis of expenditure on charitable activities
Summary by fund type
Unrestricted
funds
2024
Total
2024
Total
2023
Grant making activities
2,541,765
2,541,765
2,421,365
Total 2023
2,421,365
2,421,365
Analysis of expenditure by activities
Support
costs
including
foreign
currency
gains
2024
Grant
funding of
activities
2024
Total
funds
2024
Total
funds
2023
Grant making activities
922,077
1,619,688
2,541,765
2,421,365
Total 2023
673,944
1,747,421
2,421,365
Page 17

ANGLO AUSTRALIAN CHRISTIAN & CHARITABLE FUND
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Analysis of expenditure by activities (continued)
Analysis of support costs
Grant
making
activities
2024
Total
funds
2024
Total
funds
2023
Auditor's remuneration (governan￿}
Professional fees
13,980
75,435
211
1,526,042
1,281
2,739
13,980
75,435
211
1,526,042
1,281
2,739
13,840
72,233
552
1,660,503
293
Bank charges
Foreign exchange loss
Other support costs
Travel expenses
1,619,688
1,619,688
1,747,421
Total 2023
1,747,421
1,747,421
The presentational currency is different from the functional currency. The charity's functional currency is
Australian dollars but given that it is registered in the UK its accounts are prepared in Sterling.
Page 18

ANGLO AUSTRALIAN CHRISTIAN & CHARITABLE FUND
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Analysis of grants
Grants to
Grants to
Institutions Individuals
2024
2024
Total
funds
2024
Total
funds
2023
Grants
840.050
82,027
922,077
673,944
Total 2023
563,783
110,161
673,944
The Charity has made the following material grants to institutions during the year..
2024
2023
Name of institution
The King's College An Anglican School, Democratic Republic of Congo
Other grants to institutions
783,929
56,121
461,408
102,375
840,050
563,783
All grants were paid to institutions to advance the charitable objectives of the Charity.
Auditors. remuneration
2024
2023
Fees payable to the Charity's auditor for the audit of the Charity's annual
accounts
13,980
13,840
All non-audit services not included above
4,165
1,993
Staff costs
The average number of persons employed by the Charity during the year was nil {2023- nil).
No employee re￿iVed remuneration amounting to more than £60,000 in either year.
Page 19

ANGLO AUSTRALIAN CHRISTIAN & CHARITABLE FUND
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Trustees. remuneration and expenses
During the year, no Trustees received any remuneration or other benefits12023 - £NIL).
During the year ended 31 March 2024, no Trustee expenses have been incurred (2023 - £NIL).
Fixed asset investments
Listed
investments
Cost or valuation
At 1 April 2023
Revaluations
Foreign exchange movement
27,988,353
3,013,618
{1,401,4361
At 31 March 2024
29,600,535
Net book value
At 31 March 2024
29,600,535
At 31 March 2023
27,988,353
10.
Net Gainsl{Losses) on Investments
2024
2023
Realised losses on investments
(5,7971
3,013,618 {2,982,1511
Unrealised gainsl{losses) on investments
3,013,618
{2,987,9481
11.
Debtors
2024
2023
Due within one year
Other debtors
4,582
194,335
1,143,675
141,094
Prepayments and accrued income
198,917
1,284,769
Page 20

ANGLO AUSTRALIAN CHRISTIAN & CHARITABLE FUND
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
11. Debtors (continued)
other debtors includes a loan of £nil (2023 £1,139,078) due from The Trustee for Anglo Australian
Christian and Charitable Trust. The loan is unsecured, interest free and was repaid on 1 June 2023.
12.
Creditors: Amounts falling due within one year
2024
2023
Trade creditors
6,582
705,883
13,500
Grant commitment
821,988
13,833
Accruals and deferred income
725,965
835,821
13. Ststement of funds
ststement of funds - current year
Balance at
31 March
2024
Balance at 1
April 2023
Gainsl
(Losses
Income Expenditure
Unrestricted funds
29,781,434
576,474
General Funds
(2,541,765) 3,013,618 30,829,761
Statement of funds - prior year
Balance at
31 March
2023
Balance at
1 April 2022
Gainsl
(Losses)
Income Expenditure
Unrestricted funds
General Funds
34,391,338
799.409
(2,421,365) (2,987,948) 29,781,434
Page 21







|27,988,353<br>2,628,902<br>(835,821)<br>29,781,434|27,988,353<br>2,628,902<br>(835,821<br>29,781,434|
|---|---|





ANGLO AUSTRALIAN CHRISTIAN & CHARITABLE FUND
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
15.
Reconciliation of net movement in funds to net cash flow from operating activities
2024
2023
Net expenditure for the period (as per Statement of Financial Activities)
(1,965,291) {1,621,9561
Adjustments for:
Dividends and interest from investments
Foreign currency non cash movement on investments
Decreaselllncrease) in debtors
(Decrease)Ilncrease in creditors
1576,4741
1,401,435
1,139,094
1109,856)
(799,4091
1,452,617
1,204,952
(124,0011
Net cash lused in)Iprovided by operating activities
1111,0921
112,203
16.
Analysis of cash and cash equivalents
2024
2023
Cash in hand
1,756,274
1,344,133
Total cash and cash equivalents
1,756,274
1,344,133
17. Analysis of changes in net debt
At 1 April
2023 Cash flows
At 31 March
2024
Cash at bank and in hand
1,344,133
412,141
1,756,274
1,344,133
412,141
1,756,274
Page 23

ANGLO AUSTRALIAN CHRISTIAN & CHARITABLE FUND
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
18.
Related party transactions
During the year donations of £898.849 (2023 £730,203) were paid to The King's College An Anglican
School, a school in which John Kapend Tshiyamb, a trustee is the headmaster. £704,860 {2023
£281,810) of these donations were accrued in the prior year. An amount of £591,674 (2023 £718,590)
was committed to be paid as at 31 March 2024. The total amount included within grants to institutions in
respect of The King's College was £783,929 (2023- £461,408).
During the year fees for education consultancy totalling £61,625 {2023 £57,849) were paid to Jamieson
Consulting and Services, a family partnership registered in Australia in which Peter Jamieson is a partner.
At the balance sheet, the Charity was owed £nil {2023 £1,139,078) from The Trustee for Anglo
Australian Christian and Charitable Trust (the Trust}, an entity in which Peter Jamieson is the Chairman,
in relation to loans made during the years ended 31 March 2020 and 31 March 2021. The loan was
repaid on 1 June 2023.
19.
Financial instruments
2024
2023
Financial assets
Financial assets measured at amortised cost
198,917
1,284,769
2024
2023
Financial liabilities
Financial liabilities measured at amortised cost
725,965
835,821
Financial assets measured at amortised cost comprise accrued income and other debtors.
Financial liabilities measured at amortised cost comprise accruals and trade creditors.
Page 24