2025-12-31-accounts

ANNUAL REPORT AND FINANCIAL STATEMENTS 2025 11 ll 1111 NllTIONllL CHURCHES TRUST i+. Yours For Good

The tower and spire of the Catholic church of Our Lady & English Martyrs, Cambridge, supported by the National Churches Trust in 2025

Cover photo: Repair work at Christ Church, Kensington, London, supported by The National Churches Trust

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Published by the National Churches Trust © 2026 Company registered in England. Registration number 06265201 VAT Number 450748780 Registered charity number 1119845

Editor: Eddie Tulasiewicz

If you have any comments about our Annual Report, we’d like to hear from you. Contact: [e-mail] National Churches Trust Annual Report 22 Design: GADSThe National Churches Trust – Annual Report & Financial Statements 2025

SAVING PRICELESS HERITAGE

“ The importance of helping to repair and preserve our ancient and beautiful churches is obvious: …churches, many of them rich in association and beauty, form a priceless heritage.”

These words, written in 1972 for the Annual Report of the Incorporated Church Building Society, one of our predecessor charities, tell a story as true today as when originally written.

The UK’s 20,000 listed parish churches, chapels, meeting houses and cathedrals are our most treasured local buildings. They are the guardians of beautiful and irreplaceable heritage including art, sculpture and stained glass.

Churches provide a spiritual home for many millions of people who attend services or who seek a place for quiet reflection.

Churches are also essential for the future of our high streets, town centres and villages. Community anchors, they provide warm spaces, food banks, youth clubs and a host of other support. As affordable venues, they keep local music and the arts alive.

Keeping churches open

For these reasons and many others, it is such good news that in 2025 we were able to increase the number of grants we made to 326. This has helped keep 252 churches throughout the UK, belonging to many different denominations, open and in good repair.

It is vital that more opinion formers and decision makers are made aware of the importance of church buildings for our national heritage and for their social and economic value. Because of the serious threats they face, in 2025 we prioritised our advocacy and engagement work.

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Claire Walker, Chief Executive

Sir Philip Rutnam, Chair

Financial support

Dependable financial support for church buildings remains key to their future. Throughout the year we continued to campaign for the future of the Listed Places of Worship Grants Scheme (LPWGS) which had been given a one year reprieve in January 2025.

Since 2002, this simple to administer scheme had ensured that churches could claim back the VAT they had spent on repairs. However in January 2026, despite a Government commissioned appraisal that convincingly demonstrated its many benefits, the LPWGS was scrapped.

As a result, every listed church carrying out repairs now faces 20% extra costs. This is likely to mean that projects are cancelled or scaled back, leading to more churches being at risk of closure and further damage to historic buildings.

The LPWGS has been replaced with the Places of Worship Renewal Fund. We welcome the commitment to continue state support for church buildings.

But it remains to be seen if the new scheme, which will decline in real terms over the next four years and will help far fewer churches, offers many advantages. As it only covers England, it offers no support at all for churches in Scotland, Wales and Northern Ireland.

For the continued expansion of our work in 2025, we must above all thank our funders, including an increasing number of private philanthropists, and our Friends, who helped grow our income to £5.2m in 2025. At a time of economic uncertainty, this is a tremendous achievement.

They all know the great importance of our priceless heritage of church buildings and that we must continue to do everything we can to keep it safe for the future.

Our flagship event was the Great Expectations conference, held at the Victoria & Albert Museum in London.

New voices speaking up for church buildings at the conference included Alice Loxton, historian and bestselling author, and Rob Rinder, barrister and broadcaster. We are so grateful for their support.

Sir Philip Rutnam, Chair Claire Walker, Chief Executive

June 2026

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The Mall in Armagh City with the First Armagh Presbyterian Church in the background

The National Churches Trust – Annual Report & Financial Statements 2025

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2025 OUR YEAR IN REVIEW

A mission for all of us

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Let's value the volunteers who are holding the fabric of our country through our churches together, quite often literally, with string and goodwill. Because when we fight for the churches and sing about the work of our volunteers, we're not just preserving the past, we're protecting the possibility of a future where sacred space still means shared space. And if that's something worth saving, then it's a mission for all of us.

Rob Rinder, barrister and broadcaster

105,754 Years of church history saved[*]

326

Grants awarded to churches and chapels throughout the UK

33%

Of grants awarded to churches in the most deprived areas (IMD 1-4)

114

Grants awarded to Grade I and Grade A churches

38%

Churches with roofs at risk or in urgent need of repair

12

Churches removed from the Heritage at Risk Register with the help of our grants

£868K

Average social value of churches, shown by The House of Good: Local calculator

*Combined total age of church buildings supported by our grants in 2025

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OUR GREAT EXPECTATIONS CONFERENCE

Great Expectations was the most important event about the future of churches to be held in 2025. Churches, chapels and meeting houses will only endure if we act together; their future depends on collective will, creativity and care.

Sarah Crossland is our Head of Stakeholder Engagement

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In 1975 the exhibition ‘Change & Decay: The Future of Our Churches‘ opened at the Victoria and Albert Museum. It shone a light on the crumbling condition of churches and chapels across Britain, and asked what could be done to save them.

Fifty years later we convened 'Great Expectations', again at the V&A Museum in London. Together with partners, we explored the challenges and opportunities facing church buildings today. We are grateful to Peter Burman, who helped to organise ‘Change & Decay’, for his help.

The day long conference brought together people who wouldn’t usually find themselves in the same room – heritage experts and planners, parishioners and policymakers, conservationists and creatives.

We also invited fresh faces to Great Expectations to represent the many people who are rallying to the cause. They included Rob Rinder, barrister and broadcaster, Alice Loxton, historian and bestselling author and Luke Sherlock, author of Forgotten Churches: Exploring England’s Hidden Treasures.

They joined many of our supporters including Hugh Dennis, comedian and actor, and Richard Taylor, author and broadcaster and one of our Vice-Presidents.

Great Expectations included the release of findings from the 2025 National Churches Survey of church buildings (more information on pages 26 and 27).

The conference involved 16 sessions with speakers including:

Victoria Collison, Director of Historic Churches, Scotland; The Most Revd Stephen Cottrell, Archbishop of York;

Oliver Cox, Head of Academic Partnerships at the V&A;

Alex Glanville, Director of Property Strategy at the Church in Wales;

Ian Morrison, Director of Policy & Evidence at Historic England;

Dr Karl Newton, Deputy Chief Executive, The National Churches Trust;

Aiden O’Donovan, Architect, Northern Ireland;

Greg Pickup, CEO, The Churches Conservation Trust;

Dame Fiona Reynolds, former Director-General of The National Trust

Great Expectations was organised in partnership with the V&A Museum, The King’s Foundation, The Churches Conservation Trust and in consultation with denominations and other church and heritage partners.

The event was generously sponsored by Ecclesiastical Insurance, proudly part of the Benefact Group.

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The National Churches Trust – Annual Report & Financial Statements 2025

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Sir Philip Rutnam (Chair, the National Churches Trust (left) with Sarah Robinson (Associate Director, The King's Foundation), Aiden O'Donovan (HLM Architects), Karl Newton (Deputy Chief Executive, the National Churches Trust) and The Rev Dr Scott Rennie (Minister of St Giles' Cathedral, Edinburgh)

CALL TO ACTION

SUPPORT FOR OUR CHURCHES

Great Expectations included a three point call to action, setting out what needs to be done to help save the irreplaceable heritage of the UK’s church buildings.

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Give churches a chance

Let us not be the generation who let churches crumble. Instead, let us commit to a new, shared contract: to save our wonderful churches for the nation, for our future, and for the countless stories yet to be written.

1. SEE THEM: Government leadership

There must be national recognition that the future of church buildings is a shared heritage challenge – local communities shouldn’t have to struggle by themselves.

Alice Loxton, author of ‘Eighteen: A History of Britain in 18 Young Lives’

We want to see clear policies and strong leadership by the UK Government about how these buildings can be kept open and in use. This will give confidence to local communities.

People, money and time

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Keeping churches open and in good repair and caring for their local collections of cultural treasures takes people, money and time. It is one of the most important heritage challenges we face.

2. SAVE THEM: Capital funding

Church buildings are crumbling on our watch – local people cannot shoulder the burden of spiralling repair and renovation costs any longer.

We want to see a dedicated capital funding scheme of £50 million a year set up by the UK Government to ensure that, throughout the UK, these buildings can continue to be enjoyed by all.

Sir Tristram Hunt, Director, The Victoria and Albert Museum

This living tradition

3. SUPPORT THEM: Help for volunteers

Churches are local as well as universal. They are woven into the fabric of our lives. What would we not do to keep this living tradition alive, and what would it mean for us as human beings and as a nation if it were lost?

Almost every local church is looked after by volunteers – but they are in increasingly short supply and under pressure; churches are doing more than ever in their communities, but with less and less support.

We want to see existing and new volunteers get the recognition, training, and resources they need from denominations, the local community and the Government, so that these buildings have a sustainable future within their local area.

The Most Revd Stephen Cottrell, Archbishop of York

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OUR TRUSTEES

Our trustees play an essential role in the running of the National Churches Trust and bring valuable experience, skills and knowledge. They lead the charity and determine how it is run. In 2025 we were saddened by the death of Shirley Adams, who had served as a trustee for six years. Sir Paul Britton, Dr Stephen Sklaroff and Revd Lucy Winkett stepped down from our Board, and four new trustees were appointed.

Sarah Stewart OBE DL is our Vice-Chair

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Shirley Adams JP

MEET OUR NEW TRUSTEES

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The death of Shirley Adams in August 2025 came as a great shock to us all. Appointed to our Board of Trustees in March 2019, Shirley served as a kind and committed trustee, who got involved with much of our activity.

Shirley was a strong advocate for our Cherish project, which provides support for churches in Scotland, Wales and North West England, regularly joining staff for church visits.

We are hugely grateful for her contribution to the National Churches Trust. Her work – for our charity and others – has made a huge difference to people in need, and her kindness has been deeply valued by the people who worked with her.

Shirley's legacy will live on through the churches and people that she did so much to support.

Debbie Dance OBE

Whether as Chair of the Buildings Fabric Committee at Oxford’s Christ Church Cathedral, Church Buildings Council member, former village churchwarden, tourist or simply kneeling to say a prayer or two, I have grown to understand the importance of church buildings, and the crucial role that volunteers play in looking after them.

One of my favourite churches has to be St Wyllow, Lanteglos, Cornwall. It has extraordinary mid-13th century, curved wooden barrel-vaulted ceilings, rescued by the architect John Sedding in the 19th century. I particularly like the characterful carved 16th century pew ends, added to by the Pinwill sisters in the 19th century.

It is also where Daphne Du Maurier was married in 1932, having rowed up the creek at 8am to catch the tide and then walking uphill through the woods to the church to say her vows.

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St Wyllow, Lanteglos, Cornwall

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The National Churches Trust – Annual Report & Financial Statements 2025

Charles Kwaku-Odoi DL MFPH

Church buildings, both historic and modern, are important as they are places where people can gather for worship and community activities and also because of their heritage.

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The challenges for the National Churches Trust include continuing to support the maintenance and repair of churches and influencing national and regional policy to support our aims.

I am a Pentecostal minister and the honorary Ecumenical Canon at Manchester Cathedral. Founded by Royal Charter in 1421, it became a cathedral in 1847.

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Manchester Cathedral

The Cathedral is one of my favourite church buildings due to its architecture but also its ongoing commitment to social justice. It was where Thomas Clarkson, who helped found the Society for Effecting the Abolition of the Slave Trade, gave an important speech on the evils of slavery in 1787.

The Rev Dr Scott Rennie

I am passionate about the care and sustenance of historic churches, both as places of worship and as community assets.

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A key priority is to find new models of ownership which allow churches to stay in

community ownership when a congregation loses the capacity to sustain the church themselves.

In Scotland I campaign for new forms of public support for the care and repair of historic and listed churches from the devolved administration.

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St Magnus' Cathedral, Kirkwall

I am Minister of St Giles' Cathedral. Apart from St Giles' itself, my favourite church would have to be St Magnus' Cathedral in Kirkwall, Orkney, the United Kingdom's most northerly cathedral.

The masonry uses red sandstone quarried near Kirkwall and yellow sandstone from the island of Eday, often in alternating courses or in a chequerboard pattern to give a polychrome effect.

Vivienne Faull

I have recently retired from seven years as Bishop of Bristol where my responsibilities included campaigning nationally in support of the Church of England’s parish churches, chapels and cathedrals.

As a history student my specialism was architecture in the aftermath of the Fire of London, including the technical, political and theological debates surrounding the rebuilding of St Paul’s.

Perhaps it was this which led me, as a young cleric, into cathedral leadership. For twelve years I was Dean of Leicester, leaving to become Dean of York just as Richard III’s grave was found.

I now live on the English/Welsh borders with its diversity of denominations and ancient church buildings. The place which has stolen my heart is Almeley’s Friend’s Meeting House (pictured below), a contemporary of St Paul’s, but such a contrast: domestic in style, egalitarian in furnishing and beautifully extended in the 1980s to enable community use.

From its graveyard, with its uniform memorial stones I can look out towards Hay Bluff and Pen Y Fan and know I am at home.

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OUR FUNDRAISING FOR THE FUTURE

Churches contain sculpture, stained glass, and painting to rival those in any museum; they are home to choirs and essential venues for musicians; churches care for the hungry and the homeless. At the heart of the Christian mission they sustain every community in the land. We help churches because of all that they do.

Ben Sims is our

Head of Policy and Public Affairs and former Head of Fundraising

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Since 2022, income at the National Churches Trust has grown from £2.9 million to around £5.2 million in 2025. This is wonderful news for churches and the people who use and look after them.

We are very grateful for the continuing generous support from eminent charitable foundations, including amongst others, the Wolfson Foundation and the Headley Trust. For the past two years, the Hodge Foundation, originally founded by the banker Sir Julian Hodge, has been generously supporting our grant programmes, enabling us to help even more churches.

The Moondance Foundation has helped us to fund more projects to provide community facilities including loos, kitchens and serveries, supercharging the social impact of churches and securing their long-term sustainability.

Support in Wales

The Moondance and the Hodge Foundations are both based in Wales. Together with funding provided as part of our National Lottery Heritage Fund supported Cherish project, in 2025 we were able to give more grants in Wales than ever before.

This support to keep places of worship in good repair is so important at a time when it is estimated that as many as a quarter of Welsh churches and chapels could be closed, sold, or demolished in the next few years.

As well as the support of trusts and foundations, private philanthropy is growing in importance. In 2025 many new donors gave to the National Churches Trust with donations ranging from £1 to £1 million. Thank you to everyone who is helping.

Corporate support

In 2025 we were pleased to extend levels of corporate support from companies, large and small, including CCLA Investment Management, DSAV Ltd., Ecclesiastical Insurance, Jupiter Underfloor Heating, and our newest sponsor, Birketts LLP.

During the year we were notified of approximately £1.7 million in gifts that our supporters and Friends left the charity in their Wills. This has been really incredible.

Those who have entrusted us with part of their estate will have a legacy that lives on in the stones of ancient churches. It is truly wonderful that so many people will be remembered in beautiful, living monuments, full of life, music, worship, and charitable good.

Bell ringers at the church of St Nicholas of Myra, Worth Matravers, Dorset

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The National Churches Trust – Annual Report & Financial Statements 2025

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A LASTING LEGACY

Leaving a gift in a Will makes a lasting difference to the churches, chapels and meeting houses we help. We are very grateful to all those who helped us in this way in 2025.

Shirley Adams, Richard Armstrong, Cynthia Asquith, Marcia Babington, Joanna Chapman, Kay Chapman, John Cook, Alice Corble, Dorothy Ellis, John Farr, June Hamilton, Patricia Hugill, Audrey Jacobs, Joyce Johnson, Sally Kersting, Catharine Kroon, Janet MacGregor, Celia Pearce, Julian Prideaux, John Rattey, Ann Salway, Jane Snowden, Doreen Thomas, Susan Thurlow, William Walford, Beatrice Walker.

If you are considering any size of gift in your Will, we would be very happy to talk through the practicalities. We pride ourselves on speaking to our supporters in person, with no call centres or ‘chatbots’. Please call Claire Walker, our Chief Executive, on 020 7222 0605.

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OUR FRIENDS

Being a Friend of the National Churches Trust makes a vital difference to our work and helps historic churches remain open and in use for generations to come. In 2025, we were delighted that our Friends scheme continued to grow with over 600 people joining up during the year.

Lydia McCutcheon is our Head of Fundraising

The number of Life Friends – those who give a one-off £500 donation – increased by 83 in 2025 to a total of 534. We also now have 80 people who are members of our Cornerstone Club.

Our Friends are the first to know about our forthcoming events, which include in-person church tours and online talks and lectures. Our 2025 events included:

Covent Garden Churches

Our walking tour explored the rich history of theatre and music at Covent Garden’s historic churches. We visited Corpus Christi Maiden Lane, St Paul's Covent Garden, and St Martin-in-the-Fields.

Herefordshire Wye Valley

In September Friends and supporters had the opportunity to explore three outstanding historic Herefordshire churches in the company of Tim Bridges, one of the country’s leading ecclesiastical historians. 30 attendees visited Kilpeck, Hoarwithy and Brockhampton churches, specifically chosen to illustrate a wide range of architectural styles and historical periods and each located in a stunning location.

Oxford Colleges, Chapels and Cathedral

Over 40 Friends and supporters joined us for a guided tour of Christ Church Cathedral, followed by an organ recital and talk at Merton College Chapel. The Dobson Organ is one of the finest mechanical action organs in the UK.

The organ at Merton College Chapel

The tour of Oxford Colleges, Chapels and Cathedral was generously supported by Universal Stone Ltd.

My husband and I thoroughly enjoyed the visit yesterday, we thought it was very well organised. Our guide was excellent, and I learnt so much. It was also interesting to meet members of the group who had travelled a good distance to attend.

Elizabeth Elliot, Friend of the National Churches Trust

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The National Churches Trust – Annual Report & Financial Statements 2025

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Musicians at Carols by Candlelight
Sir Michael Palin Tim Vine Katie Derham Bill Bryson
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Carols by Candlelight

Our 2025 Carols by Candlelight was our biggest yet, with 350 attendees. We returned to the 18th-century Grosvenor Chapel in Mayfair for an evening hosted by Tim Vine, with music and readings from Bill Bryson, Sir Michael Palin, Alice Loxton, Joe Stilgoe and Katie Derham.

Booking is open for our 2026 Carols by Candlelight, returning to the Grosvenor Chapel on 10 December. nationalchurchestrust.org/carols

We are grateful for the generous support of CCLA Investment Management for this event. The music was kindly sponsored by Birketts LLP and the technical sponsor was DSAV.

Online – Knowledge Drop: Decoding

Sacred Symbols

In September Friends and other supporters joined us online for three talks by author and broadcaster Richard Taylor. An expert on understanding the rich world of imagery found in our sacred buildings, his

online events brought to life the sometimes hidden meaning found in stained glass, carvings, wall paintings and other architectural details in churches.

Our events raise money to keep churches and chapels in the UK open and in use.

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OUR CHURCH ENGAGEMENT

Our Church Engagement Team, with officers based in Scotland, Wales, Northern Ireland and England, provides in person and online support to churches throughout the UK. It also manages our two National Lottery Heritage Fund projects, Treasure Ireland and Cherish, as well as our regular grant award programmes.

Catherine Townsend is our Director of Church Engagement

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Our team is driven by the desire to support volunteers in the valuable work they do in ensuring the sustainability of church buildings. This means that the many benefits they bring to people, places and heritage can continue to be available to all.

In 2025, our grant programmes were hugely in demand as parishes and congregations continued to do their utmost to secure the funds needed to keep their church buildings open, in good repair and with the community facilities needed by worshippers and the wider local population.

We received 723 grant applications in 2025, up from 713 in 2024. These came from a very wide range of denominations including Catholic, Methodist, Presbyterian and Baptist as well as from the Anglican church.

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Nigel Mills (Grants Manager), Isidore Hisock (Church Support Officer), Gillian Bull Mott (Church Support Administrator) and Catherine Townsend (Director of Church Engagement)

We made 326 awards, up from 314 in 2024. These supported 252 places of worship. Recognising how difficult it is for some churches to get the money needed for major building projects, our funding total of £2.6 million included nine grants each worth over £40,000.

The largest grant we awarded was £73,000 to Sts Illtyd, Gwynno & Dyfodwg in Llantrisant. This was made possible thanks to an increase in our ring-fenced funding for churches and chapels in Wales. Wales will continue to benefit from this targeted support in 2026, with more than £600,000 in funding likely to be available.

Trusted Partners

In 2025 we continued to work with our trusted partners – the Wolfson Foundation, the Headley Trust, the Department for Communities in Northern Ireland, The National Lottery Heritage Fund and other funders – recommending and distributing grants to churches on their behalf.

Funding from the Pilgrim Trust has in recent years allowed us to help many churches with maintenance projects. Our partnership with them concluded in 2025; we are extremely grateful for their tremendous support over many years.

Maintenance work, so important to prevent damage and decay taking hold of a building, continues to be a priority. This is now funded through our Medium grant programme. We also promote maintenance through our training and by encouraging every church we help to have a regularly updated maintenance plan.

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The National Churches Trust – Annual Report & Financial Statements 2025

Support for churches

Grant applications from churches were undoubtedly affected by the changes to the Listed Places of Worship Grant Scheme and the introduction of a maximum claim cap of £25,000 on VAT incurred during works, that came into effect in April 2025. This led to an increase in smaller projects, and also more phasing of schemes.

The Listed Places of Worship Grants Scheme has been replaced in 2026 by the Places of Worship Renewal Fund in England. We are supporting churches applying to the new Fund. We are also making the case to the Devolved Parliaments and Assemblies for new funding to be made available to churches in the rest of the UK, and making the case to the Government on why VAT rebates are sorely needed.

In 2026 we will be reviewing our grant programmes, consulting with churches and heritage organisations. Making the application process easy to understand and as simple as possible for applicants and officers will be a priority. We also intend to enhance our work by connecting and signposting struggling and vulnerable churches to the support they need.

New ideas

Our Church Engagement team has a very wide range of expertise, including knowledge gained working with churches, the wider heritage sector, community groups, funding organisations, social enterprises and more. This allows us to bring new ideas and cross sector thinking to the challenges facing church buildings.

Training and advice

In 2025 we continued to run high-quality training and advice to help the volunteers and clergy who look after church buildings. This was in great demand and was delivered online and in person. We held over 80 sessions, run and co-ordinated by Sarah Crossland, our Head of Stakeholder Engagement, with 3,261 attendees.

Following a really helpful webinar from the National Churches Trust, we decided to reach out to the community with monthly events and requests for donations. In all, our events raised about £16,000 and kept up the local momentum and enthusiasm for the building. Donations from our congregation and the local community amounted to £56,000.

All Saints Church, Weston Green, Esher, Surrey, fundraising for a £1.4 million repair project

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Carrying out church repairs

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WE AWARDED OR RECOMMENDED 326

Where more than one grant is shown, this denotes separate awards from our grant programmes.

St Peter & St Paul, Lavenham, Suffolk

ENGLAND

BEDFORDSHIRE

Aspley Guise: St Botolph £10,000 Blunham: St Edmund or St James £7,500

Bolton: All Saints Appleby £10,000, £5,000, £4,500, Kendal: Holy Trinity £10,000, £2,500 Kirkby Stephen: St Stephen £10,000 Kirkland: Mission Church £3,385 Matterdale: Matterdale Church £25,000, £10,000 Renwick: All Saints £10,000 Woodland: St John the Evangelist £8,500 Wreay: St Mary £10,000, £5,000

DERBYSHIRE

Whaley Bridge, Taxal: St James £5,000, £3,000, £2,000

DEVON

Holsworthy: St Peter & St Paul £3,000 Ilfracombe: St Philip & St James £22,000 Landscove: St Matthew £5,000

Stoke Damerel: St Andrew with St Luke £10,000, £10,000 Stoke Rivers: St Bartholomew £7,000, £3,000, £3,000

Thurlestone: All Saints £3,000

Walkhampton: St Mary the Virgin £10,000, £4,000, £3,000

BUCKINGHAMSHIRE

Long Crendon: St Mary the Virgin £10,000 Taplow: St Nicolas £2,000

DORSET

Goathill: St Peter £2,000 Holdenhurst: St John the Evangelist £890

CAMBRIDGESHIRE

Cambridge: Our Lady and the English Martyrs £50,000

Great Paxton: Holy Trinity £5,000, £3,000, £2,000 Northborough: St Andrew £10,000 Southoe: St Leonard £3,000

CHESHIRE

Bredbury: St Barnabas £7,684 Grappenhall: St Wilfrid £6,000, £3,000

CORNWALL

Forrabury: St Symphorian £5,000 Grade: St Grada and Holy Cross £10,000, £5,000 Quethiock: St Hugh £2,907, £93 South Hill: St Sampson £9,000, £3,000 St Just-in-Penwith: St Just £2,245, £2,000 Torpoint: Cornerstone URC/Methodist Church £10,000

DURHAM

Medomsley: St Mary Magdalene £10,000, £10,000 Durham: St Oswald £7,500

EAST YORKSHIRE

Hessle: All Saints £10,000, £1,000

EAST SUSSEX

Battle: St Mary the Virgin £2,500 Ore: Christ Church £5,000, £1,800, £1,000 Ore: St Helen £2,000

St Leonards-on-Sea: Christ Church £7,500 Winchelsea: St Thomas £5,000

ESSEX

Debden: St Mary Virgin £6,054 Great Horkesley: St John £8,000 Wendens Ambo: St Mary the Virgin £7,000

GLOUCESTERSHIRE

CUMBRIA

Appleby: St Lawrence £10,000, £5,000 Barrow-in-Furness: St James £5,417

Daglingworth: Holy Rood £35,000, £5,000 Down Hatherley: St Mary & Corpus Christi £7,000, £7,000

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WARDS IN 2025, TOTALLING
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£2.6 MILLION

Doynton: Holy Trinity £5,000 Kelmscott: St George £5,000 Northleach: St Peter & St Paul £5,000

GREATER LONDON

Battersea Fields: St Saviour £10,000

Croydon: St Michael & All Angels with St James £2,500

Hanwell: St Thomas £7,000 Kensington, Christchurch £10,000 Mile End: East London Tabernacle £12,000 Peckham: Rye Lane Baptist Chapel £4,272 Pimlico: St James the Less £5,000

GREATER MANCHESTER

Manchester: Holy Name of Jesus £5,000 Tonge-cum-Alkrington: St Michael & All Angels £1,180 Whitefield: Whitefield Methodist Church £8,131

HAMPSHIRE

Bitterne Park: The Ascension £4,000 Chandler’s Ford: St Martin £500 Dummer: All Saints £1,040 Micheldever: St Mary the Virgin £5,000, £4,000, £3,000 Milford-on-Sea: All Saints £10,000

Pear Tree: St Mary Extra (Jesus Chapel) £5,000, £2,000

HEREFORDSHIRE

Colwall: St James the Great £13,500

HERTFORDSHIRE

Abbots Langley: St Lawrence £3,000 Kelshall: St Faith £5,000, £3,000, £2,000 St Albans: St Michael £10,000

KENT

Chatham: St John the Divine £5,000, £3,383 Sandhurst: St Nicholas £2,630 Sutton-at-Hone: St John the Baptist £13,000, £10,000

LANCASHIRE

Baxenden: St John £7,500 Blackpool: Layton Methodist Church £24,000 Cleveleys: St Andrew £10,000 Croston: St Michael & All Angels £8,500 Fleetwood: St Nicholas £30,000 Ince-in-Makerfield: Christ Church £10,000

Lytham St Annes: Lytham Methodist Church £10,000

Lytham St Annes, Ansdell: The Well Baptist Church £2,000

Padiham: St Leonard £10,000 Penwortham: St Leonard £540 Standish: St Wilfrid £50,000, £5,000

LEICESTERSHIRE

Coalville: Marlborough Square Methodist Church £3,000 Horninghold: St Peter £7,500

LINCOLNSHIRE

Great Grimsby: St Mark £3,000 Revesby: St Lawrence £4,000 Threekingham: St Peter ad Vincula £5,000

MERSEYSIDE

Bebington: Wirral Cornerstone Church £7,000 Southport: Holy Family £3,000

NORFOLK

Hemsby: St Mary £3,000 Hethel: All Saints £4,546 Little Melton: All Saints £5,000, £3,000, £2,000 Ludham: St Catherine £10,000

Tattersett: All Saints & St Andrew £4,842 Toftrees: All Saints £6,000

West Barsham: The Assumption of The Blessed Virgin Mary £3,000, £3,000

NORTHAMPTONSHIRE

Long Buckby: St Lawrence £5,000 Moulton: St Peter & St Paul £6,265

NORTHUMBERLAND

Heddon-on-the-wall: St Andrew £3,000 Hexham: Priory church of St Andrew £3,000 Warden: St Michael & All Angels £10,000, £2,000 Whalton: St Mary Magdalene £6,000, £2,000

NORTH YORKSHIRE

Aldborough: St Andrew £3,700 Brafferton: St Peter £3,000, £3,000 Dunsforth: St Mary £4,000 Edstone: St Michael £2,000 Kildale: St Cuthbert £5,000 Kildwick: St Andrew £40,000, £5,000, £5,000 Langton-on-Swale: St Wilfrid £3,000, £2,000, £2,000

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Skipwith: St Helen £5,000, £3,000 Stillingfleet: St Helen £20,000, £8,681

NOTTINGHAMSHIRE

Barnby-in-the-Willows: All Saints £2,000 Bilsthorpe: St Margaret £5,000, £3,000 Kinoulton: St Luke £6,500 Nottingham: Church of the Good Shepherd £25,000, £10,000 Nottingham: St Nicholas £10,000, £4,458

OXFORDSHIRE

Barford: St Michael £35,000 Kingham: St Andrew £10,000 Littleworth: Holy Ascension £5,000 Steeple Aston: St Peter & St Paul £5,000, £5,000

SHROPSHIRE

Ashley: Our Blessed Lady & St John the Baptist £3,000 Buildwas: Holy Trinity £2,000 Prees: St Chad £3,000

SOMERSET

Axbridge: St John the Baptist £5,295, £5,000 North Curry: North Curry & Curland Methodist Church £2,370

SOUTH YORKSHIRE

Penistone: St John the Baptist £10,000 Whiston: St Mary Magdalene £5,000, £2,000

STAFFORDSHIRE

WEST SUSSEX

Ifield: St Margaret £5,000 South Stoke: St Leonard £7,500, £2,500 Upper Beeding: St Peter £712

WEST YORKSHIRE

Elland: Elland Christian Centre £15,000 South Kirkby: All Saints £4,000 Upper Armley: Christ Church £20,000

WILTSHIRE

Bratton: St James the Great £5,000 Bremhill: St Martin £3,000 Castle Combe: St Andrew £10,000, £10,000 Ogbourne: St Andrew £19,000

WORCESTERSHIRE

Great Malvern: St Mary and St Michael £5,000 Kidderminster: Grace Church £3,000 Worcester: St Stephen £3,000

Seymour Street Methodist Church, Lisburn, County Antrim

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Brereton: St Michael £3,000

SUFFOLK

Crowfield: All Saints £5,000, £3,755, £2,000 Henley: St Peter £5,000, £2,000 Ipswich: St Mary le Tower £2,000 Lavenham: St Peter & St Paul £20,000, £10,000 Layham: St Andrew £3,000 Newbourne: St Mary the Virgin £3,000 Polstead: St Mary £3,000, £1,864

TYNE AND WEAR

Sunderland: St John's Methodist Church £10,000, £2,000

WARWICKSHIRE

Leamington Spa: Radford Road Church £10,000

WEST MIDLANDS

Coventry: Central England Area Quaker Meeting House £25,000 Coventry: St Anne & All Saints £3,000

NORTHERN IRELAND

ANTRIM

Ballintoy: Ballintoy Church £1,500 Belfast: Belmont Presbyterian Church £9,650 Belfast: Frederick Street Quaker Meeting House £1,200

Belfast: Mount Merrion Parish Church £650 Belfast: Redeemer Central £5,000 Belfast: St Aidan £1,300 Belfast: St Bartholomew £1,200 Belfast: St John’s Malone £450 Belfast: St Mary Magdalene £600 Belfast: St Simon £1,500 Belfast: St Vincent de Paul £1,500 Belfast: The Exchange Church £700 Dundonald: St Elizabeth’s Church £1,500 Lisburn: Hillhall Presbyterian Church £30,000, £10,000 Lisburn: Seymour Street Methodist Church £20,000 Portrush: Dr Adam Clark Memorial Methodist Church £2,000

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The National Churches Trust – Annual Report & Financial Statements 2025

ARMAGH

Aghacommon: St Patrick £10,000, £10,000 Armagh: St Patrick’s Cathedral (Church of Ireland) £1,000 Kilmore: St Aidan £10,000 Lurgan: St Paul £1,650

DOWN

Bangor: St Columbanus Ballyholme £450 Gargory: St Patrick £500 Gilford: St Paul £10,000 Grange: Our Lady of Lourdes £1,500 Killinchy: Killinchy Non-Subscribing Presbyterian Church £2,715 Mullaglass: St Luke £1,500 Newtownards: St Mark £1,200 Rathfriland: St John £1,000

FERMANAGH

Enniskillen: Enniskillen Methodist Church £1,000

ANGUS

Arbroath: Arbroath Town Mission £10,000 Dundee: St Andrew's Cathedral £5,500, £3,500 Dundee: St Mary Our Lady of Victories £4,865 Dundee, Lochee: St Mary the Immaculate Conception £30,000

ARGYLL AND BUTE

Dunoon: Holy Trinity Episcopal Church £2,258

BANFFSHIRE

Macduff: Macduff Parish Church £9,990

CLACKMANNANSHIRE

Alva: Alva Parish Church £8,995

DUMFRIES & GALLOWAY

Kirkcudbright: Kirkcudbright Parish Church £10,000

EAST LOTHIAN

Musselburgh: Musselburgh Congregational Church £2,760

LONDONDERRY/DERRY

Belmont: St Peter £1,500 Desertmartin: Desertmartin Parish Church (St Comgall) £1,500

Limavady: Limavady Methodist Church £1,720

TYRONE

Aughnacloy: St James £1,500 Castlederg: St John £1,300 Castlederg: St Patrick £25,000 Coalisland: Brackaville Holy Trinity £10,000 Donemana: St James £1,500 Kildress: St Patrick £10,000 Strabane: Urney Christ Church £10,000, £10,000

St Margaret’s Chapel, Edinburgh

SCOTLAND

ABERDEENSHIRE

Aberdeen: St Andrew's Church (formerly Cathedral) £10,000 Fraserburgh: St Drostan £3,650

EAST RENFREWSHIRE

Barrhead: St Andrew £25,000 Barrhead: St John the Evangelist £10,000

EDINBURGH

Edinburgh: St Margaret's Cathedral £10,000 Edinburgh: St Margaret's Chapel £10,000 Edinburgh: St Patrick £37,500 Edinburgh: St Peter £8,500, £3,000 Edinburgh, Portobello: St Mark £10,000

FIFE

Cupar: Ceres, Kemback & Springfield Church £1,773 Elie: Elie Kirk £6,620

Markinch: St Drostan's Church £1,773 St Andrews: Holy Trinity Church £3,030

GLASGOW

Glasgow: Carntyne and Cranhill Parish Church £20,000

HIGHLANDS

Fort William: Duncansburgh Church Kilmallie £10,000 Isle of Canna: Canna Mission Church (Isle of Canna Community Development Trust) £10,000

LANARKSHIRE

Hamilton: St Mary the Virgin £8,280, £5,000

PERTH AND KINROSS

Aberfeldy: Aberfeldy Parish Church £8,455 Perth: Trinity Church of the Nazarene £19,000

SELKIRKSHIRE

Selkirk: Selkirk & Ashkirk Parish Church £15,000

nationalchurchestrust.org 19

SHETLAND ISLANDS

Fetlar: Fetlar Kirk £8,700

Lerwick: Adam Clarke Memorial Methodist Church £9,450

DENBIGHSHIRE/DDINBYCH

Llanbedr Dyffryn Clwyd: St Peter £7,500, £2,000

FLINTSHIRE/FFLINT

Rhosesmor: St Paul £9,400

STIRLINGSHIRE

Bridge of Allan: Bridge of Allan Parish Church £36,130

Denny: Dunipace Parish Church £865

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St Nicholas Church, St Nicholas, Glamorgan

WALES/CYMRU

CAERPHILLY/CAERFFILI

New Tredegar: Bethania Pentecostal Church £8,387

CARDIFF/ CAERDYDD

Cardiff: Eglwys Dewi Sant £9,943 Pentyrch: St Catwg £6,374

CARMARTHENSHIRE/GAERFYRDDIN

Llanwinio: St Gwinio £10,000

CONWAY

Conwy: St Mary £50,000, £10,000, £5,000 Gyffin: St Benedict £60,000 Hafan Ifan: St John £10,000 Llandudno: St John's Methodist £50,000, £8,143 Llanrhychwyn: St Rychwyn £10,000, £10,000, £10,000 Trefriw: St Mary £2,000

GWYNEDD

Llanddeiniolen: St Deiniol's Church £9,872 Llanegryn: Ss Mary & Egryn £10,000, £8,480, £7,788 Nefyn: St David £10,000 Pentir: St Cedol £10,000

MONMOUTHSHIRE/FYNWY

Mitchel Troy: St Michael & All Angels £10,000

NEATH PORT TALBOT

Cwmafan: St Michaels £10,000

RHONDDA CYNON TAF

Llantrisant: Sts Illtyd, Gwynno & Dyfodwg £73,000 SWANSEA/ABERTAWE Penllergaer: St David £50,000

TORFAEN

Pontypool: Sharon Full Gospel Church £4,700

VALE OF GLAMORGAN/MORGANNWG

Llantwit Major: St Illtud £2,011 St Nicholas: St Nicholas £50,000

WREXHAM/WRESCAM

Wrecsam: Capel y Groes £10,000

2025 GRANTS AWARDED OR RECOMMENDED

Scheme	Total Awards	£
•Cherish	64	486,899
•Cecil King	6	45,000
•Headley	24	108,000
•Large	48	1,131,000
•Medium	62	202,090
•Small	31	176,161
•Treasure Ireland	32	90,920
•Wolfson	59	407,546
Totals	326	£2,647,616

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The National Churches Trust – Annual Report & Financial Statements 2025

OUR GRANT FUNDING IN 2025

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Number of grants in 2025
Area Number
East Midlands 14
East of England 36
London 7
North East 13
North West 36
Northern Ireland 42
Scotland Scotland 36
£379,594 South East 32
South West 41
Wales/Cymru 32
West Midlands 14
Yorkshire
and The Humber 23
Total 326
North East Urban/Rural
£84,500
N. Ireland 170 grants awarded
£215,285 North West to rural churches
and 156 to urban,
£342,837
Yorkshire suburban and
and The Humber churches in small
£168,381 towns.
Grants by denomination
Number
Baptist 3 East Midlands
Catholic 22 £93,723
Church in Wales 26
West Midlands
Church of England 193
Church of Ireland 24 £83,500 East of England
Church of Scotland 1 Wales/Cymru £226,561
Church of the Nazarene 1 £544,598 London
Congregational 2 £50,772
Evangelical 3 South East
Independent 3 South West £182,955
Independent Pentecostal 1
£274,910
Methodist 16
Methodist/URC 1
Non subscribing 1
Presbyterian
Pentecostal 1
Total of grants awarded in 2025 - £2,647,616
Presbyterian 19
Quakers 2
We give particular thanks to The Wolfson Foundation, The
Scottish Episcopal Church 7 Headley Trust and The National Lottery Heritage Fund for
Total 326 their continuing support of our work.
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OUR TREASURE IRELAND PROJECT

2025 was the last full year for our Treasure Ireland project which has been supporting church buildings in Northern Ireland since 2020, thanks to our partnerships with the Department for Communities, The National Lottery Heritage Fund and the Pilgrim Trust.

Kerry Rooney MBE is our Northern Ireland Church Support Officer

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Training

2025 saw the completion of a full programme of training events involving volunteers, clergy and heritage professionals from across Northern Ireland.

Our training focused on practical issues such as building maintenance, heritage skills, tourism development and interpretation, whilst also creating opportunities for peer learning and collaboration across denominations. Bringing people who look after church buildings together to share knowledge is key to their future.

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Grant funding

The Treasure Ireland grants programme has helped to improve the condition of church buildings. By November 2025, 55 churches in Northern Ireland had received Treasure Ireland grants.

The Treasure Ireland grants have supported essential repairs such as works to roofs, rainwater goods, masonry and windows, and have helped prevent further deterioration. This reduces longterm repair costs and safeguards buildings that are so important to their communities.

Tourism and engagement

We have worked with ten churches to develop bookable tours and visitor experiences. These offer people a chance to engage with the history and architecture of churches, both urban and rural, and from a range of denominations. To allow them to gather data on visitor numbers, each church has a digital visitor counter.

Churches that have benefited include: Christ Church, Derry/Londonderry (Church of Ireland); St Macartan's, (Forth Chapel) Augher (Catholic); and the First Armagh Presbyterian Church, Armagh (Presbyterian).

Online, a suite of themed trails and digital content on the National Churches Trust’s website allows new audiences to discover the best of Northern Ireland’s church heritage.

nationalchurchestrust.org/explore/northern-ireland

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The National Churches Trust – Annual Report & Financial Statements 2025

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Participants taking part in a tour of churches in Derry/Londonderry, outside St Columb’s Cathedral

The Treasure Ireland project concluded in April 2026. Its legacy is clear:

• better-maintained church buildings

• more confident and skilled volunteers

• a growing recognition of churches as vital heritage assets for all

• 80 churches have been supported with repair grants across Northern Ireland with funding totalling £422,879

• 38 training sessions have taken place with more than 1,220 attendees, averaging 30 attendees per session.

• 10 churches supported to develop bookable visitor experiences

Central to the success of Treasure Ireland has been the role of the Support Officer, who from 2020 to 2025 was Nina McNeary.

Through site visits, oneto-one advice and ongoing encouragement, her work has helped build confidence amongst volunteers and

fostered a culture of proactive maintenance and openness.

Crucially, this support has extended beyond grant recipients, ensuring that the benefits of the programme have been felt across the wider church sector in Northern Ireland.

Winter Ready Small Grants Programme

In 2025 the need for small-scale, preventative repairs to church buildings in Northern Ireland remained exceptionally high. To help, we developed a special Winter Ready Small Grants Programme focused on essential works to help churches prepare their buildings for the winter months and prevent further deterioration.

78 churches applied to the programme with 26 churches awarded grants; just over £30,000 of funding was distributed. The grants had a significant impact, enabling churches to address immediate risks, protect historic fabric, and enter the winter period with greater confidence.

Find out more about Treasure Ireland: nationalchurchestrust.org/treasure-ireland

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nationalchurchestrust.org

OUR CHERISH PROJECT

In 2025, our Cherish project, made possible thanks to a £1.9 million grant from The National Lottery Heritage Fund, continued to help places of worship in Scotland, Wales/Cymru and North West England through the work of its four locally based Support Officers and dedicated grant funding.

Jon Hodges is our Cherish Project Manager

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We made 64 grants totalling £486,899 to churches, chapels and meeting houses for essential repairs to roofs, rainwater goods and stonework. The funding also pump-primed investigative and development work to help prepare the way for larger projects.

Grants were made to churches in locations as varied as the Vale of Glamorgan, the Lake District and as far north as the Shetland Islands. For the first time we funded, as a pilot, community-owned churches no longer owned by a denomination. By the end of the year, 86% of the total £900,000 grant budget for 2023 – 2026 had been allocated.

In 2025 our Cherish Support Officers visited over 150 places of worship providing support and guidance on maintenance, repairs, project planning and funding applications, as well as discussing ideas for community engagement, enterprise and income generation. Training is also a key focus and in 2025 Cherish delivered in person and online training to over 700 people.

Energy efficiency

Good maintenance of church buildings plays a significant role in both mitigating the effects of climate change and preventing further emissions through increased energy efficiency.

Thanks to National Lottery players

Recent years have seen increased rainfall. This means that church gutters, drains and downpipes need regular clearing so that they can work to their full capacity and prevent damage to the building.

In 2025 our Cherish Support Officers in Scotland, Anne-Marie O’Hara and David Lynch, spoke at the Scottish Episcopal Church’s Net Zero Roadshow events about the crucial contribution maintenance makes to achieving net zero.

Ensuring that buildings are windproof and watertight is the biggest step that places of worship can take towards an efficient heating system.

David Lynch, one of our Cherish Scotland Support Officers, at the 2025 Scottish Episcopal Church Net Zero Roadshow

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The National Churches Trust – Annual Report & Financial Statements 2025

Cherish in Scotland

Community Ownership

With the closure of an increasing number of churches in Scotland, a key focus of our work has been to ensure church buildings going into community ownership – and which continue to provide worship – remain open and well-maintained.

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This included delivering a training session for the Diocese of Bangor on ‘Walking as Community Engagement’, examining issues including how to increase the appeal of and interest in church heritage and how churches can support local economies.

One of our grantees was St Rhychwyn’s Church in Llanrhychwyn. This is purportedly the oldest surviving church building in Wales, dating from the 12th Century and having been a site of Christian worship since the sixth Century.

The church received three grants of £10,000, each tackling different projects involving lead work, repairing the torching – a layer of mortar under the roof that keeps the weather out – and the replacement of cement pointing with lime mortar.

Gareth Simpson, Support Officer, Cherish Wales/Cymru

Fetlar Kirk

On this, we worked with organisations including the Development Trusts Association Scotland, the Architectural Heritage Fund and the Scottish Land Fund.

In 2025 we were able to award a Cherish grant of £8,700 to Fetlar Kirk, on Fetlar, one of the Shetland Islands. This was the first Cherish grant to a community-owned church in Scotland, and a pilot scheme. It continues to hold weekly worship services and is open for visitors throughout the week, with displays about local history and wildlife.

Anne Marie O’Hara and David Lynch, Support Officers, Cherish Scotland

Cherish in Wales/Cymru

Walking and Pilgrimage

In 2025 I continued to champion walking and pilgrimage in Wales as a way of increasing the number of people using and visiting places of worship.

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St Rhychwyn Church, Llanrhychwyn

Cherish in North West England (Cumbria, Lancashire and Greater Manchester)

Heritage at Risk

Holy Trinity Church, Kendal, Cumbria

Finding ways to keep churches open for the long term is vitally important and this includes sharing best practice and new ideas. In 2025 we ran a ‘Resilient and Sustainable Church Buildings’ day in each of the three counties covered by Cherish.

This allowed churches to meet funders and share their experiences with one another. Feedback from the events was highly positive, with 100% of attendees who completed our survey saying they learned something new.

We were delighted to have awarded Cherish grants to four churches on Historic England’s Heritage At Risk Register: St Andrew’s in Cleveleys, Kirkby Stephen Parish Church, St Michael & All Angels in Croston and Holy Trinity in Kendal. The funding helped to safeguard locally significant historic churches for the future and will enable them to move off the list.

Matthew Maries, Support Officer, Cherish North West

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OUR PUBLIC AFFAIRS AND COMMUNICATIONS

We speak up for all 38,500 churches across the UK – independent of government and denominations – so that every church in England, Scotland, Wales and Northern Ireland knows it has a voice and can get practical support.

Karl Newton is our Rachael Adams is our Deputy Chief Executive Head of Communications

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Ben Sims (Head of Public Affairs), Karl Newton (Deputy Chief Executive), Claire Walker (Chief Executive) and Sir Philip Rutnam (Chair) outside 10 Downing Street

At the start of 2025 we stepped up our campaign in support of the future of the Listed Places of Worship Grant Scheme (LPWGS), which refunded VAT on repairs. We worked with politicians, the media and UK Government, and called on our Friends and supporters to lobby their MPs.

This pressure helped to secure a Westminster Hall debate in January 2025 at which Chris Bryant MP, then the Minister for Culture, Media and Sport, announced that the Listed Places of Worship Grant Scheme would continue for one year from March 2025. However, the scheme’s budget was reduced to £23 million, with a new limit of £25,000 on VAT refunds. That change penalised the many churches and cathedrals with larger repair projects.

We continued to make the case for the benefits of the LPWGS throughout 2025 and ensured the issue stayed visible in national and local media with coverage by the BBC, ITV, The Guardian, Daily Mail, Daily Express, Country Life, and The Spectator, amongst many others.

2026 UPDATE

On 22 January 2026, the UK Government announced that the Listed Places of Worship Grant Scheme would be scrapped and replaced by a new Places of Worship Renewal Fund, but for England only. The Fund is to run for four years from 2026/2027, managed by Historic England. With a total pot of £92 million, the new Renewal Fund will average £23 million a year, and have a focus on repair and conservation work.

We welcomed the announcement of the new funding scheme. However, we are very concerned that listed places of worship will now have to bear the full cost of VAT on repairs. Museums and galleries offering free admission do not have to pay VAT on repairs, but in future churches will. Taking into account inflation, the value of the new scheme, which covers only England, will decline over time.

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NATIONAL
CHURCHES
SURVEY
Giving every church a voice
Full Report
AROLWG
EGLWYSI
CENEDLAETHOL
Rhoi llais i bob eglwys
Adroddiad Llawn
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The National Churches Survey: giving every church a voice

To speak up for churches effectively we need evidence, and the best comes from the people who look after them.

(Continues on page 27)

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The National Churches Trust – Annual Report & Financial Statements 2025

Working with over 70 denominations, faith, and heritage groups, alongside an experienced survey firm, Whitestone Insight, in 2025 we carried out the National Churches Survey. 3,628 churches took part, broadly representative of the UK in terms of denomination, attendance, building age and location.

The findings make clear the growing problems facing churches in the UK. Buildings are deteriorating with over a third of church roofs at risk or in urgent need of repair, the volunteers needed to run churches are in short supply and, for many, money is running out.

The survey also revealed much that is positive. The majority of churches provide vital support for local people and most now have accessible entrances and loos and kitchens, making them user-friendly places of worship and community hubs.

Our survey found that 49% of churches have stained glass of artistic merit, and 35% of churches have monuments and memorials that are historically significant.

Other key findings included:

• there are over 830,000 regular church volunteers across the UK

• the average congregation relies on 265 hours of unpaid service every month

• 80% of churches hold services at least weekly, confirming their ongoing role as spiritual centres.

Full details: nationalchurchestrust.org/survey

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A service at Kirkcudbright Parish Church, supported by the National Churches Trust in 2025

The House of Good: Local calculator

Many of us know how much good churches do for people. They keep the social fabric of communities strong, while providing a safety net for those in need. In 2020-21, we published The House of Good, our pioneering research study that quantified the social good of all the UK’s churches at a staggering £55 billion.

In March 2025 we went one step further and launched The House of Good: Local. This online calculator enables any church to estimate the social value that it provides to the community.

By the end of 2025, The House of Good: Local had been used by over 240 churches from more than a dozen denominations, and in every part of the UK. Collectively they calculated their social value at £215,312,790, which works out at an average of £868,196 per church.

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A volunteer serves curry in a soup kitchen at a church hall in Bradford

The calculator was developed with funding from the Benefact Trust, and in partnership with State of Life.

If you are interested in learning more about the tool, or in joining the hundreds of churches who have already used it, visit nationalchurchestrust.org/houseofgood-local.

Oliver Lack, Communications and Public Affairs Officer

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The future of our amazing church buildings is one of the greatest heritage challenges we face as a nation. They must remain at the heart of our heritage and at the centre of local communities.

Hugh Dennis,

comedian and actor, Ambassador for the National Churches Trust

27

nationalchurchestrust.org

LET YOUR LEGACY LIVE ON IN THE WALLS OF OUR CHURCHES

St Margaret’s, Bodelwyddan, Denbighshire ©Ioan Said

Find out more

VISIT

nationalchurchestrust.org/legacy

EMAIL

[e-mail]

CALL 020 7222 0605

Leave your mark on the places that shape our story by leaving a gift in your Will to the Na-Leave your mark on the places that shape tional Churches Trust.our story by leaving a gift in your Will to the National Churches Trust. In every stone repaired,

In every stone repaired, every beautiful building saved, every beautiful building saved, every church bell still ringing out, every church bell still ringing out, you will be remembered. you will be remembered.

Your love for our nation’s heritage will continue. And Your love for our nation’s heritage will continue. you will keep historic churches open and thriving And you will keep historic churches open and for future generations. thriving for future generations.

For more information, return this form to: National Churches Trust, 7 Tufton Street, London SW1P 3QB

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TELEPHONE

EMAIL

We’d like to keep you up to date about our work helping the UK’s churches and the difference your support makes. We’d like to keep you up to date about our work helping the UK’s churches and the difference your support makes. This includes sending This includes sending news, appeals and invitations to events. Please only supply your phone number if you are happy to be called news, appeals and invitations to events. Please only supply your phone number if you are happy to be called (we do not make fundrais(we do not make fundraising calls).ing calls).

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Your information will be treated as private and kept securely. We will never make public, swap or sell your details. Please note your membership donation is inclusive of VAT. Your information will be treated as private and kept securely. We will never make public, swap or sell Read more at nationalchurchestrust.org/privacy-policyyour details. Read more at nationalchurchestrust.org/privacy-policy

The National Churches Trust – Annual Report & Financial Statements 2025

28

OUR FINANCIAL REVIEW

THE FINANCIAL STATEMENTS FOR 2025 ARE SET OUT ON PAGES 37 TO 56.

The National Churches Trust delivered a strong financial performance in 2025, achieving a surplus of £757,193, which exceeded expectations. This resulted primarily from exceptional levels of legacy notifications and major donor income, which together contributed £3,277,058 and helped lift total income to £5,222,110, £1,388,149 more than 2024. Income from trusts totalled £972,279, while friends and other individuals contributed £639,266 (including Gift Aid).

Legacy income recognised amounted to £1,697,058, with 26 new notifications, reflecting the continued confidence supporters place in our work (2024: £565,965, 15 notifications). These legacy gifts will make an important contribution to the long-term sustainability of our support for churches, chapels and meeting houses across the UK, helping to ensure that these buildings can be maintained and cared for in the years ahead.

The National Churches Trust awarded £2,602,616 of grants in the year (2024: £2,843,687, which included £467,181 in respect of the second round of grants awarded to the ‘Last Chance Churches’). In total, 326 grants (2024: 314) were awarded to churches, chapels and meeting houses during the year. Non-grant expenditure decreased by £65,578.

Net income before losses on investments amounted to £1,015,647 (2024: net expenditure of £683,100 before investment gains). The £757,193 surplus after investment losses compared to a deficit after investment gains of £540,420 in 2024. Unrestricted funds recorded a significant surplus of £1,576,004. Restricted funds decreased by £806,316, reflecting the planned expenditure of funds received in prior years. Endowment funds reported a modest deficit of £12,495, with income offset by unrealised investment losses. Total funds of the Group at 31 December 2025 were £8,298,031 (£3,351,866 unrestricted, £1,994,696 restricted and £2,951,469 endowment funds).

INVESTMENTS

The Group’s investments generate income and are intended to provide growth over the medium and longer term to help sustain the National Churches Trust’s grant programmes and other work. The trustees consider it appropriate to invest prudently and they continued to hold investments in the CBF Church of England Investment Fund, managed by CCLA, during the year.

The Group’s investments provided income of £179,374 in 2025 (2024: £177,638) but decreased in value by £258,454 (2024: increased in value by £142,680). The cumulative unrealised gains over the historic cost of these investments as at 31 December 2025 were approximately £2.55 million. Subsequent to the year end, the Group sold its investments in the CBF Church of England Investment Fund and reinvested the proceeds with James Hambro & Partners and W1M.

ENDOWMENT FUNDS

The trustees of the National Churches Trust under the powers granted under section 104A(2) of the Charities Act 2011 passed a resolution in 2017 to allow it to use a total return approach to the assets of the permanent endowment R de Pass legacy fund. In 2018 a further resolution was passed in order to allow it to manage the endowment funds of The Luke Trust in the same way.

The R de Pass legacy endowment fund used the date of 9 May 2017 to establish the value of the unapplied total return within the endowment (the date on which the original investment was purchased). The date applied to the calculation of The Luke Trust unapplied fund was 5 April 1990 (which represents the date the National Churches Trust became its sole trustee).

The total return approach allows the National Churches Trust to use some of the capital growth of the funds for current grant making, instead of only being able to use the investment income received. This approach enables the charity to have an investment strategy aimed at maximising total return, without the need to ensure a significant part of the return is in the form of income rather than capital growth.

The trustees have a duty to maintain a balanced approach in regard to supporting both current and future beneficiaries and will only use the power to spend the capital growth to the extent that the ability to support future beneficiaries will not be prejudiced.

It is the National Churches Trust policy that the unapplied total return should remain positive overall. The trustees therefore make a judgement on an annual basis as to the level of income to be transferred to the income fund. The National Churches Trust also aims to maintain the level of the endowment funds by allocating on an annual basis an element of the unapplied total return to the endowment funds.

The trustees opted not to make a transfer to the income fund in the year in respect of either the R de Pass legacy or The Luke Trust.

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RESERVES

The National Churches Trust’s policy is that restricted reserves, available largely only for grants to maintain and enhance churches, should generally be spent as soon as practicable, subject to receipt of suitable applications of sufficient quality from churches.

The trustees recognise that an element of unrestricted reserves is necessary in order to provide the flexibility to maintain activities in the event of fluctuations in income, as well as allowing the charity to top up worthwhile projects which are only partially funded by specific donations.

The National Churches Trust’s policy is set out below.

The restricted reserve originating from the Historic Churches Preservation Trust (HCPT) is available to support much of the National Churches Trust’s work, including its grants to churches. For the purpose of this reserves policy, it is therefore considered together with the National Churches Trust’s unrestricted funds.

The trustees regard it as appropriate to maintain the combined unrestricted and HCPT reserves at an amount within a range of 75% to 125% of the National Churches Trust’s previous year's unrestricted non grant expenditure plus £1 million to maintain a grants programme and other activity for a period even if there should be a temporary dip in income.

At the end of 2025, assisted by the exceptional level of legacy notifications, these reserves stood at £3.71 million (2024: £2.16 million). Based on the above policy the accepted range for these reserves is approximately £2.1 million to £3.4 million. The trustees have budgeted to reduce unrestricted reserves to within the range in the current year.

The amount of funds held as permanent endowments was £2,951,469 at 31 December 2025.

EXECUTIVE REMUNERATION

The key management personnel of the National Churches Trust in charge of directing and controlling, running and operating the charity on a day-to-day basis comprise the trustees and the Chief Executive Officer, the Deputy Chief Executive Officer, the Head of Finance and the Director of Church Engagement.

All trustees give their time freely and no trustees received remuneration during the year. Details of trustees’ expenses are disclosed in note 9 to the financial statements. The pay of staff is reviewed annually, with increases determined taking account of performance, changes in responsibility and inflation.

RISK MANAGEMENT

In addition to the challenges presented by the current economic climate, the trustees have assessed the major risks to which the group is exposed, in particular those relating to the main operational areas, the group’s investments and its finances.

They have identified the following as key risks:

• Investment volatility – this is mitigated by the use of expert investment managers in order to ensure the National Churches Trust has a diversified investment portfolio.

• A significant fall in fundraised income – this is mitigated by continuing to develop and enhance the National Churches Trust’s fundraising strategy in order to diversify and strengthen income streams so that the National Churches Trust is not over-reliant on any one source of income. Investment in key fundraising areas is made, including legacy marketing. Project funding is sought from new funders to reduce calls on existing relationships and correspondence with friends and donors ensure they are updated on the National Churches Trust’s work.

• Loss of staff members – this is mitigated by regular review of staff benefits to improve retention and having succession planning in place. The aim is also to have more than one staff member who is capable of carrying out each role, and where this is not possible to have detailed operational notes in place so that duties could be picked up quickly in the event that the staff member leaves or is away for a substantial period of time.

• IT systems fail to meet operational needs, digital policies are not kept current and loss/corruption of data – this is mitigated by having security and authorisation procedures in place and continual appraisal of systems needs and options.

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TRUSTEES’ RESPONSIBILITIES

The trustees (who are also the directors of the National Churches Trust for the purposes of company law) are responsible for preparing the trustees’ report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the National Churches Trust and Group and of the incoming resources and application of resources, including the income and expenditure, of the Group 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 in the Statement of Recommended Practice on Accounting and Reporting by Charities;

• make judgements and estimates that are reasonable and prudent;

• state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group will continue in operation.

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the National Churches Trust and the Group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the National Churches Trust and the Group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Insofar as each trustee is aware:

• There is no relevant audit information of which the National Churches Trust’s auditor is unaware; and

• The trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information.

SAFEGUARDING

Safeguarding policies and procedures are in place for staff, donors, Friends and supporters. The National Churches Trust also takes steps to ascertain that the churches the National Churches Trust supports have safeguarding policies in place in line with recommended and legislative policies and procedures.

PUBLIC BENEFIT

The trustees confirm that they have undertaken to comply with the Charity Commission’s guidance on public benefit and are satisfied that the National Churches Trust meets its obligations through helping maintain the UK’s heritage of church buildings and enhancing their ability to serve local communities. Public benefit is provided by the National Churches Trust’s grants for the repair, restoration and modernisation of places of worship and its support of projects that enable places of worship to engage with their local communities. The trustees are also satisfied that supporting new ways of promoting visits to places of worship and bringing a new generation of people into contact with church history and architecture is of benefit to the wider public.

AUDITOR

Buzzacott Audit LLP has been retained throughout 2025 as the National Churches Trust’s auditor and has indicated its willingness to continue in office. A resolution proposing this will be put to the trustees in 2026.

GOVERNANCE

The National Churches Trust is a charitable company limited by guarantee and is governed by its Memorandum and Articles of Association. It owes its origins to The Historic Churches Preservation Trust (HCPT) which was set up in 1953 to help repair churches following the earlier years of war damage and economic depression.

HCPT now forms part of the National Churches Trust, as does the Incorporated Church Building Society (ICBS), set up in the early nineteenth century to build and extend Anglican churches. The National Churches Trust also administers The Luke Trust, a separate charity with consistent objects, and acts as its trustee. The Luke Trust is included in the consolidated financial statements of the National Churches Trust.

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FUNDRAISING

The National Churches Trust is committed to high standards in fundraising. The National Churches Trust is registered with the Fundraising Regulator and continues to monitor and update data protection policies to make sure that fundraising activities and communications with Friends and supporters comply fully with the latest regulations.

The charity does not use the services of any fundraising agency. No fundraising activities were carried out by others on behalf of the charity and no voluntary fundraising schemes were agreed to by the charity or anyone fundraising on its behalf.

The National Churches Trust records complaints received as directed by the Fundraising Regulator. During 2025, no complaints were made either to the charity or to the Fundraising Regulator.

The National Churches Trust sends Friends two magazines a year with accompanying appeals and the Annual Review, together with occasional invitations to events. It also posts out three appeals annually to other supporters and donors. It is the policy of the National Churches Trust never to make fundraising telephone calls. No complaints were received from Friends and supporters about fundraising methods. Our fundraising materials and communications clearly highlight that:

• The National Churches Trust does not make public or sell supporter details to any third parties; and

• Friends and supporters only receive updates about the National Churches Trust’s work where they have opted to do so and where they have consented to receive them by post and/or email. Anyone not wanting to receive these can let the National Churches Trust know and such communication will not then be sent.

Risk assessments are carried out before undertaking any fundraising and marketing activities to ensure compliance with the General Data Protection Regulation.

TRUSTEES

The trustees, who are the directors of the charity for the purposes of company law, are responsible for the activities of the National Churches Trust, ensuring that it uses its funds for public benefit in accordance with its objects. The following were trustees during 2025 and up to the date of signature of the financial statements.

----- Start of picture text -----
Appointed/Resigned/Retired
Sir Philip Rutnam (Chair)
Shirley Adams JP (Died August 2025)
Sir Paul Britton CB CVO (Retired September 2025)
Gerald Corbett DL
Debbie Dance OBE (Appointed September 2025)
Right Rev’d Vivienne Faull (Appointed March 2026)
Rev’d Canon Charles Kwaku-Odoi (Appointed June 2025)
Donna McDonald
Catherine Pepinster
Rev’d Dr Scott Rennie (Appointed September 2025)
Dr Stephen Sklaroff (Resigned October 2025)
Henry Stanford ACA (Treasurer)
Sarah Stewart OBE DL
Dr Nigel Walter FRIBA, FRSA
Revd Lucy Winkett (Resigned April 2025)
----- End of picture text -----

The National Churches Trust has three standing committees which focus on particular areas.

The Nominations Committee recommends the appointment and re-appointment of trustees, maintains an overview of the process of induction for new trustees, and ensures that there are appropriate succession plans in place for the Chairman, Treasurer and Chief Executive.

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The Grants Committee considers and recommends applications from churches for grants. It includes a number of external, independent members with a wide range of expertise, as well as at least two trustees.

The Risk and Audit Committee oversees the National Churches Trust’s financial management and reporting, liaises with the external auditor and periodically reviews risks faced by the National Churches Trust and how the National Churches Trust manages its investments.

The National Churches Trust also from time to time convenes steering groups to lead the development of particular projects. The members of the National Churches Trust’s committees are listed on page 58. The trustees and other members of the National Churches Trust’s committees and steering groups all give their time voluntarily.

New trustees are recommended for appointment by the existing trustees on the advice of the Nominations Committee.

The appointment of trustees is subject to ratification by the National Churches Trust’s Joint Presidents, the Archbishops of Canterbury and York. At their first meeting in any calendar year the trustees elect a chairman and vice-chairman from among their number who hold office until the first meeting of the trustees in the following calendar year or such earlier date as the trustees may at any time decide. They may be re-elected for subsequent periods.

No Trustee may serve for a continuous period of more than ten years.

The Nominations Committee meets regularly to consider how to identify the widest possible range of potential trustees.

The Committee is keen to ensure that the Board of trustees includes people of varied backgrounds and with a diverse range of skills.

Trustees take an active part in supporting the work of the National Churches Trust. This includes attending ceremonies and events marking the completion of projects funded by the National Churches Trust and attending church tours and other fundraising events.

STAFF AND VOLUNTEERS

The National Churches Trust has a small staff responsible for working with the trustees to develop a strategic plan for the group and for delivering its programme of support for churches, under the overall direction of the Chief Executive, Claire Walker.

The National Churches Trust is committed to helping ensure that the United Kingdom’s Christian places of worship remain in use and of benefit to as many people as possible. We are grateful for the hard work and dedication of all the staff, and for the support of volunteers who help with a number of our projects and activities.

On behalf of the trustees, our thanks go to our Friends and supporters who continue to make our work possible through their donations and who remain dedicated to our cause.

As a charity which receives no regular funding from the UK Government or church authorities, our work is only made possible by the generous voluntary contributions we receive, and we are truly appreciative of the great support afforded to us by so many people. We remain particularly grateful to an anonymous donor who has continued to provide significant support in 2025.

No one organisation can ensure the future of the UK’s churches, chapels and meeting houses. Our appreciation for their help and guidance is therefore extended to the many church building experts in the UK, the volunteers who help keep churches alive, and the wider heritage community, including The National Lottery Heritage Fund, Historic England, the Department for Communities in Northern Ireland, Cadw and Historic Environment Scotland, all of whom have continued to champion church buildings and the case for their support during 2025.

This report has been prepared taking advantage of the exemptions for small companies within Part 15 of the Companies Act 2006.

Sir Philip Rutnam

25 June 2026

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INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE NATIONAL CHURCHES TRUST

OPINION

We have audited the financial statements of the National Churches Trust (the ‘charitable parent company’) and its subsidiaries (the ‘group’) for the year ended 31 December 2025 which comprise the group statement of financial activities, the group and charitable parent company balance sheets, group statement of cash flows, the principal accounting policies and the notes to the financial statements. 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 Accepted Accounting Practice).

In our opinion, the financial statements:

• give a true and fair view of the state of the group’s and of the charitable parent company’s affairs as at 31 December 2025 and of the group’s income and expenditure for the year then ended;

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

• have been prepared in accordance with the requirements of the Companies Act 2006.

BASIS FOR OPINION

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, 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 group and charitable parent company’s ability to continue as a going concern for a period of at least twelve 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 trustees are responsible for the other information. The other information comprises the information included in the annual report and financial statements, other than the financial statements and our auditor’s report thereon. 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 assurance conclusion thereon.

In connection with our audit of the financial statements, 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 audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. 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.

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OPINIONS ON MATTERS PRESCRIBED BY THE COMPANIES ACT 2006

In our opinion, based on the work undertaken in the course of the audit:

• the information given in the trustees’ report, which is also the directors’ report for the purposes of company law, for the financial year for which the financial statements are prepared is consistent with the financial statements; and

• the trustees’ report, which is also the directors’ report for the purposes of company law, has been prepared in accordance with applicable legal requirements.

MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION

In the light of the knowledge and understanding of the group and the charitable parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees’ report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

• adequate accounting records have not been kept by the charitable parent company, or returns adequate for our audit have not been received from branches not visited by us; or

• the charitable parent company financial statements are not in agreement with the accounting records and returns; or

• certain disclosures of trustees’ remuneration specified by law are not made; or

• we have not received all the information and explanations we require for our audit; or

• the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies’ exemptions in preparing the trustees’ report and from the requirement to prepare a strategic report.

RESPONSIBILITIES OF TRUSTEES

As explained more fully in the trustees’ responsibilities statement, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they 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 group’s and the charitable parent company’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 group or the charitable parent company or to cease operations, or have no realistic alternative but to do so.

AUDITOR’S RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, 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 procedures are capable of detecting irregularities, including fraud is detailed below:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

• the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations; and

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• we obtained an understanding of the legal and regulatory frameworks that are applicable to the charity and determined that the most significant frameworks which are directly relevant to specific assertions in the financial statements are those that relate to the reporting framework Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Companies Act 2006 and those that relate to fundraising and are overseen by the Fundraising Regulator and those that relate to data protection (General Data Protection Regulation).

We assessed the susceptibility of the group and charity’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

• making enquiries of management and representatives of those charged with governance as to their knowledge of actual, suspected and alleged fraud; and

• considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:

• performed analytical procedures to identify any unusual or unexpected relationships;

• performed substantive testing of expenditure including authorisation thereof; and

• tested journal entries to identify unusual transactions.

• In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

• reading the minutes of meetings of those charged with governance; and

• enquiring of management and representatives of those charged with governance as to actual and potential litigation and claims.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of noncompliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the trustees and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

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.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

USE OF OUR REPORT

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Peter Mackereth (Senior Statutory Auditor) For and on behalf of Buzzacott Audit LLP, Statutory Auditor 130 Wood Street London EC2V 6DL

Date:

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The National Churches Trust – Annual Report & Financial Statements 2025

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2025

----- Start of picture text -----
Notes Unrestricted Restricted Endowment Total 2025
funds funds funds
£ £ £ £
Income and endowments:
Grants, donations and legacies 3 2,832,693 2,025,910 30,000 4,888,603
Charitable activities 4 22,055 – – 22,055
Other trading activities 5 72,454 – – 72,454
Investment income 6 59,624 102,659 76,715 238,998
Total income and endowments 2,986,826 2,128,569 106,715 5,222,110
Expenditure:
Costs of raising funds:
• Raising grants, donations and legacies 446,226 29,584 – 475,810
Charitable activities:
• Maintaining and enhancing church buildings 453,422 2,653,162 – 3,106,584
• Promoting church buildings 511,814 112,255 – 624,069
Total expenditure 7 1,411,462 2,795,001 – 4,206,463
Net income/(expenditure) before losses on investments 1,575,364 (666,432) 106,715 1,015,647
Net losses on investments 13 – (139,244) (119,210) (258,454)
Net income/(expenditure) 1,575,364 (805,676) (12,495) 757,193
Transfers between funds 18 640 (640) – –
Net movement of funds for the year 1,576,004 (806,316) (12,495) 757,193
Reconciliation of funds:
Fund balances brought forward 1 January 1,775,862 2,801,012 2,963,964 7,540,838
Fund balances carried forward 31 December 3,351,866 1,994,696 2,951,469 8,298,031
----- End of picture text -----

All of the Group’s activities derived from continuing operations in the two financial years covered in this report.

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CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024

----- Start of picture text -----
Notes Unrestricted Restricted Endowment Total 2024
funds funds funds
£ £ £ £
Income and endowments:
Grants, donations and legacies 3 1,176,259 2,317,821 40,000 3,534,080
Charitable activities 4 20,359 – – 20,359
Other trading activities 5 48,550 – – 48,550
Investment income 6 53,334 98,982 78,656 230,972
Total income and endowments 1,298,502 2,416,803 118,656 3,833,961
Expenditure:
Costs of raising funds:
• Raising grants, donations and legacies 493,185 26,674 – 519,859
Charitable activities:
• Maintaining and enhancing church buildings 448,510 2,898,710 – 3,347,220
–
• Promoting church buildings 523,174 126,808 649,982
Total expenditure 7 1,464,869 3,052,192 – 4,517,061
Net (expenditure)/income before gains on investments (166,367) (635,389) 118,656 (683,100)
Net gains on investments 13 – 77,937 64,743 142,680
Net (expenditure)/income (166,367) (557,452) 183,399 (540,420)
Transfers between funds 20 1,063 23,937 (25,000) –
Net movement of funds for the year (165,304) (533,515) 158,399 (540,420)
Reconciliation of funds:
Fund balances brought forward 1 January 1,941,166 3,334,527 2,805,565 8,081,258
Fund balances carried forward 31 December 1,775,862 2,801,012 2,963,964 7,540,838
----- End of picture text -----

All of the Group’s activities derived from continuing operations in the two financial years covered in this report.

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BALANCE SHEETS AS AT 31 DECEMBER 2025

----- Start of picture text -----
Notes Group Group Charity Charity
2025 2024 2025 2024
£ £ £ £
Fixed assets
Tangible assets 12 10,470 11,228 10,470 11,228
Investments 13 6,234,110 6,462,564 5,647,536 5,851,563
6,244,580 6,473,792 5,658,006 5,862,791
Current assets
Debtors 14 2,654,328 2,546,871 2,654,328 2,547,337
Short term deposits 1,679,960 1,125,861 1,679,960 1,125,861
Cash at bank and in hand 863,349 543,719 863,349 543,719
5,197,637 4,216,451 5,197,637 4,216,917
Creditors: amounts falling due within one year 15 (3,144,186) (3,149,405) (3,102,696) (3,131,403)
Net current assets 2,053,451 1,067,046 2,094,941 1,085,514
Total net assets 8,298,031 7,540,838 7,752,947 6,948,305
Funds:
Unrestricted general funds 3,351,866 1,775,862 3,351,866 1,775,862
Restricted funds 18 1,994,696 2,801,012 1,967,618 2,733,934
Endowment funds 19 2,951,469 2,963,964 2,433,463 2,438,509
Total funds 21 8,298,031 7,540,838 7,752,947 6,948,305
----- End of picture text -----

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved by the trustees and signed on their behalf by:

Sir Philip Rutnam (Chair)

Henry Stanford ACA (Treasurer)

25 June 2026

Company Registration No. 06265201 (England and Wales)

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CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2025

----- Start of picture text -----
Notes 2025 2024
£ £
Net cash provided by operating activities A 669,190 88,424
Cash flows from investing activities
Investment income 238,998 230,972
Sale of investments – 789,676
Purchase of tangible fixed assets (4,459) (2,851)
Purchase of investments (30,000) (650,674)
Net cash provided by investing activities 204,539 367,123
Change in cash and cash equivalents 873,729 455,547
Cash and cash equivalents at 1 January 1,669,580 1,214,033
Cash and cash equivalents at 31 December 2,543,309 1,669,580
----- End of picture text -----

Notes to consolidated statement of cash flows for the year ended 31 December 2025

A. RECONCILIATION OF NET MOVEMENT IN FUNDS TO NET CASH FLOW PROVIDED BY OPERATING ACTIVITIES

----- Start of picture text -----
2025 2024
£ £
Net movement in funds 757,193 (540,420)
Depreciation 5,217 4,262
Investment income (238,998) (230,972)
Investment losses/(gains) 258,454 (142,680)
(Increase)/decrease in debtors (107,457) 464,127
(Decrease)/increase in creditors (5,219) 534,107
Net cash provided by operating activities 669,190 88,424
----- End of picture text -----

B. ANALYSIS OF CASH AND CASH EQUIVALENTS

----- Start of picture text -----
2025 2024
£ £
Short term deposits 1,679,960 1,125,861
Cash at bank and in hand 863,349 543,719
Total cash and cash equivalents 2,543,309 1,669,580
----- End of picture text -----

No separate reconciliation has been prepared for the movement in net debt as there is no difference between the cash and cash equivalents and the net (debt) cash of the group.

40

The National Churches Trust – Annual Report & Financial Statements 2025

NOTES TO THE FINANCIAL STATEMENTS – AS AT 31 DECEMBER 2025

1. PRESENTATION

GROUP STRUCTURE

These financial statements consolidate the results of two registered charities which are managed together: the National Churches Trust and The Luke Trust.

Together, they are referred to as the Group. The Luke Trust is included in these consolidated financial statements because the National Churches Trust is its sole trustee and it is therefore controlled by the trustees of the National Churches Trust. Activities have been consolidated on a line by line basis in the statement of financial activities.

As a result of directions issued by the Charity Commission, the activities of the Historic Churches Preservation Trust (HCPT) and of the Incorporated Church Building Society (ICBS) are included as part of the National Churches Trust. Funds given to HCPT and ICBS remain subject to their trusts and the terms under which they were given.

The consolidated statement of financial activities, the comparative statement of financial activities, the consolidated balance sheet and the consolidated statement of cash flows on pages 37 to 40 (together with their related notes) reflect the financial position of the Group as a whole. The separate charity balance sheet on page 39 and its related notes include the National Churches Trust (including HCPT and ICBS) but exclude The Luke Trust. The National Churches Trust is referred to in these financial statements as the Charity. A summary of the financial results and position of The Luke Trust is given in Note 24.

The Charity has not presented its own income and expenditure account as permitted by Section 408 of the Companies Act 2006. Gross income of the charity of £5,205,133 (2024- £3,813,648) and net income of £804,641 (2024- £564,374 net expenditure) has been dealt with in the financial statements of the Charity.

FUNDS

The funds of the Group are divided into three categories, depending on the terms on which they have been donated.

Unrestricted general funds are those which may be used for any purpose within the broad charitable objectives of the Charity and the Group.

Restricted funds are held for specific purposes laid down by the donors, and are not available for any other purpose.

Most of the restricted funds are available only for supporting the maintenance and improvement of church buildings, and include some funds which can only be used for specific projects or for churches in particular geographical areas.

Further details are set out in Note 18.

Endowment funds comprise a capital sum which must be permanently held. The income which arises

on the endowment funds can be used for specified purposes and remains subject to the terms under which they were given. The Group operates a total return approach for two of its permanent endowment funds. All income, gains and losses are taken to the part of the fund representing accumulated unapplied returns in the first instance.

An amount reflecting the deemed investment return each year is calculated using the charity's endowment spending policy and may be transferred to income funds to be applied within the terms of these funds. Further details of the endowment funds are set out in Note 19.

2. ACCOUNTING POLICIES

The principal accounting policies adopted, judgements and key sources of estimation and uncertainty in the preparation of the financial statements are set out below.

BASIS OF PREPARATION

The financial statements have been prepared for the year to 31 December 2025 with comparative information given in respect of the year to 31 December 2024.

They have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant accounting policies below or the notes to these financial statements.

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (Charities SORP FRS 102) and in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

The Charity constitutes a public benefit entity as defined by FRS 102. The financial statements are presented in sterling and are rounded to the nearest pound.

CRITICAL ACCOUNTING ESTIMATES AND AREAS OF JUDGEMENT

Preparation of the financial statements requires the trustees to make judgements and estimates. Significant judgements and estimates have been made in relation to:

• estimating the likely amount of legacy income once the Group is aware of its entitlement to receive a legacy;

• the allocation of shared costs across activities based on staff time;

• estimating future income and expenditure flows for the purpose of assessing going concern (see overleaf).

41

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NOTES TO THE FINANCIAL STATEMENTS – AS AT 31 DECEMBER 2025

ASSESSMENT OF GOING CONCERN

The trustees have assessed whether the use of the going concern assumption is appropriate in preparing these financial statements. The trustees have made the assessment in respect of a period of at least one year from the date of approval of these financial statements.

The trustees have concluded that there are no material uncertainties related to events or conditions that may cast significant doubt on the ability of the Group to continue as a going concern. The trustees are of the opinion that the Group wilI have sufficient resources to meet its liabilities as they fall due. The most significant areas of judgement that affect items in the financial statements are detailed above. With regard to the next accounting period, the year ending 31 December 2026, the most significant areas that affect the carrying value of the assets held by the Group are the level of investment return and the performance of investment markets (see the investments and risk management sections of the trustees' report for more information).

INCOME RECOGNITION

All income is recognised once the Group has entitlement to the resources, it is probable that the resources will be received and the monetary value of incoming resources can be measured with sufficient reliability.

Income comprises donations and legacies, income from charitable activities and income from trading activities, investment income and other income.

Donations and grants are recognised when the Group has confirmation of both the amount and settlement date.

In the event of donations pledged but not received, the amount is accrued for where the receipt is considered probable. In the event that a donation is subject to conditions that require a level of performance before the Group is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the Group and it is probable that those conditions will be fulfilled in the reporting period.

On occasion the Charity has assets donated to it. In order to maximise gift aid recovery it is the policy of the Charity to sell the asset. The amount recognised in the accounts is based on the value of the asset at the gift date.

Legacies are included in the statement of financial activities when the Group is entitled to the legacy, the amount of the legacy receivable can be reliably measured, the executors have established that there are sufficient surplus assets in the estate to pay the legacy and any conditions attached to the legacy are

within the control of the Group. Entitlement is taken as the earlier of the date on which either: the Group is aware that probate has been granted, the estate has been finalised and notification has been made by the executor to the Group that a distribution will be made, or when a distribution is received from the estate. In the event that the gift is in the form of an asset other than cash or a financial asset traded on a recognised stock exchange, recognition is subject to the value of the gift being reliably measurable with a degree of reasonable accuracy and title to the asset having been transferred to the Group.

Where legacies have been notified to the Group, or the Group is aware of the granting of probate, but the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material.

Income from charitable activities comprises contributions towards grant programme costs and income from church support activities and consultancy. Income from trading activities comprises payments from supporter events, corporate and other services income. Both categories of income are measured at the fair value of the amounts received or receivable, excluding discounts and rebates.

Dividends are recognised once the dividend has been declared and notification has been received of the dividend due. Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Group; this is normally upon notification of the interest paid or payable by the bank.

RESOURCES EXPENDED

Expenditure is included in the statement of financial activities when incurred and includes irrecoverable VAT. Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the Group to make a payment to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.

All expenditure is accounted for on an accruals basis. Expenditure comprises direct costs and support costs. All expenses, including support costs, are allocated or apportioned to the applicable expenditure headings. The classification between activities is as follows:

• Expenditure on raising funds includes all expenditure associated with raising grants, donations and legacies.

• Expenditure on charitable activities includes all costs associated with furthering the charitable purposes of the Group through the provision of its charitable activities.

Expenditure on maintaining and enhancing church buildings reflects the costs of the Group's work with churches helping them to maintain the UK's heritage of church buildings and to enhance their suitability as centres of community life.

42

The National Churches Trust – Annual Report & Financial Statements 2025

NOTES TO THE FINANCIAL STATEMENTS – AS AT 31 DECEMBER 2025

Expenditure on promoting church buildings includes costs related to encouraging visits to churches, liaising with national church bodies and Government, and working generally to promote the value to communities of church buildings and to inspire everyone to value and enjoy them.

Grants payable are included in the statement of financial activities when approved. In order for a grant to be approved, the intended recipient has to provide evidence that it has any necessary consents to carry out the project and that the project is likely to go ahead. Grants approved but not paid at the end of the financial year are accrued.

In addition to grants payable, costs of each expenditure category include the salaries of those employees directly involved, other costs directly attributable to the category, and a proportion of general support costs.

In order to carry out the primary purposes of the Group it is necessary to provide support in the form of a suitable working environment, staff development, financial management, office services and equipment, good governance and similar costs. Support costs, including governance costs, represent indirect charitable expenditure. Governance costs comprise costs relating to the public accountability of the charity and compliance with regulation and good practice. Support costs are apportioned based on staff time.

TANGIBLE FIXED ASSETS

All assets or groups of assets costing more than £1,000 and with an expected useful economic life exceeding one year are capitalised. Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

• Leasehold improvements – on a straight line basis over the life of the lease up to the date of the first break clause.

• Office equipment- on a straight line basis over four years.

FIXED ASSET INVESTMENTS

Listed investments are financial instruments which are traded on a public investment market. They are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price.

As noted above, the main form of financial risk faced by the Group is that of volatility in equity and other investment markets due to wider economic conditions, the attitude of investors to investment risk, and changes in sentiment concerning equities and within particular investment sectors.

The Group does not acquire put options, derivatives or other complex financial instruments. The Group only has financial assets and financial liabilities of a kind that qualify as basic financial instruments.

Unlisted investments comprise certain silverware and similar artefacts that are specific to the charity's heritage. The items are included in the accounts at their fair value based on their estimated market value determined by the trustees with assistance from professional auctioneers.

Realised gains (or losses) on investment assets are calculated as the difference between disposal proceeds and the opening carrying value or the purchase value if acquired during the financial year. Unrealised gains and losses are calculated as the difference between the fair value at the year end and the previous carrying value. Realised and unrealised investment gains (or losses) are combined in the statement of financial activities and are credited (or debited) in the year in which they arise.

DEBTORS

Debtors are recognised at their settlement amount, less any provision for non-recoverability. Prepayments are valued at the amount prepaid. Debtors and prepayments are discounted to present value of the future cash receipt where such discounting is material.

CASH AT BANK AND IN HAND

Cash at bank and in hand represents such accounts and instruments that are available on demand or have a maturity of less than three months from the date of acquisition. Term deposits of more than three months but less than one year or highly liquid deposits invested with the intention of generating a higher rate of interest are disclosed as short term deposits. Cash placed on deposit for more than one year is disclosed as a fixed asset investment.

CREDITORS AND PROVISIONS

Creditors and provisions 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. Creditors and provisions are recognised at the amount the Group anticipates it will pay to settle the debt. They have been discounted to the present value of the future cash payment where such discounting is material.

PENSIONS

The Group contributes to the personal pension schemes of its employees. These schemes are defined contribution schemes and the contributions are charged to the statement of financial activities as they are incurred.

OPERATING LEASES

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

nationalchurchestrust.org 43

NOTES TO THE FINANCIAL STATEMENTS – AS AT 31 DECEMBER 2025

3. INCOME FROM GRANTS, DONATIONS AND LEGACIES

----- Start of picture text -----
Group Unrestricted Restricted Endowment Total
funds funds funds 2025
£ £ £ £
Grants and donations 1,767,467 1,394,078 30,000 3,191,545
Legacies 1,065,226 631,832 – 1,697,058
2,832,693 2,025,910 30,000 4,888,603
Group Unrestricted Restricted Endowment Total
funds funds funds 2024
£ £ £ £
Grants and donations 667,034 2,261,081 40,000 2,968,115
Legacies 509,225 56,740 – 565,965
1,176,259 2,317,821 40,000 3,534,080
----- End of picture text -----

Included in the grants and donations line is £16,476 (2024: £40,765) of donated goods and services. Donated goods are recorded at their fair value, whilst donated services are valued based on the time spent and rate of pay for similar services. Restricted income includes a provision of £52,529 (2024: £nil) in respect of grant income that may not be claimable in respect of two projects.

4. INCOME FROM CHARITABLE ACTIVITIES

----- Start of picture text -----
Group Unrestricted Unrestricted
funds 2025 funds 2024
£ £
Contributions towards grant programme costs 20,083 18,417
Church support activities 1,972 1,942
22,055 20,359
----- End of picture text -----

5. INCOME FROM OTHER TRADING ACTIVITIES

----- Start of picture text -----
Group Unrestricted Unrestricted
funds 2025 funds 2024
£ £
Supporter events 21,888 15,860
Corporate support and other income 50,566 32,690
72,454 48,550
----- End of picture text -----

6. INVESTMENT INCOME

----- Start of picture text -----
Group Unrestricted Restricted Endowment Total
funds funds funds 2025
£ £ £ £
Income from listed investments – 102,659 76,715 179,374
Interest receivable 59,624 – – 59,624
59,624 102,659 76,715 238,998
Group Unrestricted Restricted Endowment Total
funds funds funds 2024
£ £ £ £
Income from listed investments – 98,982 78,656 177,638
Interest receivable 53,334 – – 53,334
53,334 98,982 78,656 230,972
----- End of picture text -----

44

The National Churches Trust – Annual Report & Financial Statements 2025

NOTES TO THE FINANCIAL STATEMENTS – AS AT 31 DECEMBER 2025

7. TOTAL EXPENDITURE

----- Start of picture text -----
Group Grants Staff costs Other costs Governance costs Total
(Note 16) (Note 8) (Note 10) (Note 11) 2025
£ £ £ £ £
Costs of raising funds
Raising grants, donations and legacies – 281,810 194,000 – 475,810
Expenditure on charitable activities:
Maintaining and enhancing church buildings 2,461,714 417,496 207,565 19,809 3,106,584
Promoting church buildings – 344,434 257,274 22,361 624,069
2,461,714 1,043,740 658,839 42,170 4,206,463
Raising Charitable Total
funds activities 2025
£ £ £
Expenditure from:
Unrestricted funds 446,226 965,236 1,411,462
Restricted funds 29,584 2,765,417 2,795,001
Total expenditure 475,810 3,730,653 4,206,463
Group Grants Staff costs Other costs Governance costs Total
(Note 16) (Note 8) (Note 10) (Note 11) 2024
£ £ £ £ £
Costs of raising funds
Raising grants, donations and legacies – 294,763 225,096 – 519,859
Expenditure on charitable activities:
Maintaining and enhancing church buildings 2,706,734 436,687 180,976 22,823 3,347,220
Promoting church buildings – 360,266 262,486 27,230 649,982
2,706,734 1,091,716 668,558 50,053 4,517,061
Raising Charitable Total
funds activities 2024
£ £ £
Expenditure from:
Unrestricted funds 493,185 971,684 1,464,869
Restricted funds 26,674 3,025,518 3,052,192
Total expenditure 519,859 3,997,202 4,517,061
----- End of picture text -----

nationalchurchestrust.org 45

NOTES TO THE FINANCIAL STATEMENTS – AS AT 31 DECEMBER 2025

8. STAFF COSTS

The average number of employees during the year was:

----- Start of picture text -----
2025 2024
Number Number
Engagement 7 11
Church support 11 10
Management and administration 4 4
22 25
Group 2025 2024
Employment costs £ £
Wages and salaries 849,297 904,559
Social security costs 106,283 92,650
Other pension costs 82,119 91,211
1,037,699 1,088,420
Recruitment costs 6,041 3,296
1,043,740 1,091,716
----- End of picture text -----

The trustees were not paid and did not receive any other benefits from employment within the Group. One member of staff earned within the range of £70,000 to £79,999 per annum and two staff members earned within the range of £60,000 to £69,999 (2024: one member of staff earned within the range £70,000 to £79,999 per annum, two staff members within the range £60,000 to £69,999).

The trustees are responsible for the overall direction and control of the Charity and its subsidiaries. The Chair of the charity acts in a voluntary capacity and receives no remuneration for his role. A close family member of the Chair was employed by the charity during the year on a temporary contract. Employment terms and pay were consistent with those offered to other staff for similar roles.

The key management personnel of the Charity, having authority and responsibility for planning and controlling the activities of the Charity, comprise the trustees, the Chief Executive, the Deputy Chief Executive, the Head of Finance and the Director of Church Engagement. The total remuneration (including taxable benefits and employer's pension contributions) of the key management personnel for the year was £307,682 (2024: £313,172).

9. TRUSTEE EXPENSES

None of the trustees (or any persons connected with them, other than as stated in note 8 above) received any remuneration during the year (2024: none). No Trustee received payment for professional or other services supplied to the Group (2024: none).

Three trustees were reimbursed for expenditure on travel and subsistence totaling £1,048 in the year (2024: three trustees were reimbursed £1,572). The Charity purchased insurance to protect it from any loss arising from the neglect or default of its trustees and to indemnify the trustees against the consequences of neglect or default on their part. The insurance premium paid in the year by the Charity for a combined insurance policy, which included the cost of insuring the Charity as a whole as well as its trustees, totalled £6,119 (2024: £5,998).

46

The National Churches Trust – Annual Report & Financial Statements 2025

NOTES TO THE FINANCIAL STATEMENTS – AS AT 31 DECEMBER 2025

10. OTHER COSTS

----- Start of picture text -----
Group Total Total
2025 2024
£ £
Property costs 64,573 64,357
Publicity, communications and marketing 233,529 195,287
Printing, post and stationery 55,726 63,663
IT, website and telephone 117,895 66,280
Travel and entertaining 5,723 9,430
Other costs 74,333 65,621
Depreciation 5,217 4,263
Project costs 101,843 199,657
658,839 668,558
----- End of picture text -----

11. GOVERNANCE COSTS

These comprise alI costs relating to the public accountability of the Group and its compliance with regulation and good practice. This includes costs related to statutory audit and governance-related legal fees.

----- Start of picture text -----
Group Total Total
2025 2024
£ £
Auditor’s remuneration
• Statutory audit 22,443 19,406
• Non audit services: Taxation and VAT advice – 2,273
Legal and professional fees 18,679 26,802
Trustee expenses (note 9) 1,048 1,572
42,170 50,053
----- End of picture text -----

47

nationalchurchestrust.org

NOTES TO THE FINANCIAL STATEMENTS – AS AT 31 DECEMBER 2025

12. TANGIBLE FIXED ASSETS

----- Start of picture text -----
Group & Charity Leasehold Office
improvements equipment Total
£ £ £
Cost or valuation
At 1 January 2025 79,956 52,080 132,036
Additions – 4,459 4,459
Disposals – (3,134) (3,134)
At 31 December 2025 79,956 53,405 133,361
Depreciation
At 1 January 2025 79,956 40,852 120,808
Charge for year – 5,217 5,217
Depreciation on disposals – (3,134) (3,134)
At 31 December 2025 79,956 42,935 122,891
Net book values
At 31 December 2025 – 10,470 10,470
At 31 December 2024 – 11,228 11,228
----- End of picture text -----

13. FIXED ASSET INVESTMENTS

----- Start of picture text -----
Group Charity
£ £
Listed investments:
Market value at 1 January 2025 6,447,549 5,836,548
Additions 30,000 30,000
Unrealised losses (258,454) (234,027)
Market value at 31 December 2025 6,219,095 5,632,521
Unlisted investments:
Other investments 15,015 15,015
Market value at 31 December 2025 6,234,110 5,647,536
Group Charity
£ £
Listed investments:
Market value at 1 January 2024 6,443,871 5,667,510
Additions 650,674 40,000
Disposal (789,676) –
Realised gains 13,315 –
Unrealised gains 129,365 129,038
Market value at 31 December 2024 6,447,549 5,836,548
Unlisted investments:
Other investments 15,015 15,015
Market value at 31 December 2024 6,462,564 5,851,563
----- End of picture text -----

48

The National Churches Trust – Annual Report & Financial Statements 2025

NOTES TO THE FINANCIAL STATEMENTS – AS AT 31 DECEMBER 2025

Analysis of listed investment holdings at 31 December 2025:

----- Start of picture text -----
Group Group Charity Charity
Market Historical Market Historical
Value Cost Value Cost
£ £ £ £
CCLA Investment Management Investment Funds 6,219,095 3,665,912 5,632,521 3,055,238
6,219,095 3,665,912 5,632,521 3,055,238
----- End of picture text -----

At 31 December 2025 63% of the CCLA Investment Funds were held by fund managers in overseas equities. The remaining listed investments were all held in the UK.

Analysis of listed investment holdings at 31 December 2024:

----- Start of picture text -----
Group Group Charity Charity
Market Historical Market Historical
Value Cost Value Cost
£ £ £ £
CCLA Investment Management Investment Funds 6,447,549 3,635,912 5,836,548 3,025,238
6,447,549 3,635,912 5,836,548 3,025,238
----- End of picture text -----

At 31 December 2024 64% of the CCLA Investment Funds were held by fund managers in overseas equities. The remaining listed investments were all held in the UK.

14. DEBTORS

----- Start of picture text -----
Group Group Charity Charity
2025 2024 2025 2024
£ £ £ £
Legacies receivable 1,622,897 724,362 1,622,897 724,362
Grants receivable 959,366 1,743,140 959,366 1,743,140
Other debtors and prepayments 72,065 79,369 72,065 79,369
Amount due from group entities – – – 466
2,654,328 2,546,871 2,654,328 2,547,337
----- End of picture text -----

nationalchurchestrust.org 49

NOTES TO THE FINANCIAL STATEMENTS – AS AT 31 DECEMBER 2025

15. CREDITORS – AMOUNTS FALLING DUE WITHIN ONE YEAR

----- Start of picture text -----
Group Group Charity Charity
2025 2024 2025 2024
£ £ £
Grants payable (note 16) 3,006,344 3,054,179 2,958,342 3,036,176
Funds held on behalf of others (note 17) 7,500 10,000 7,500 10,000
Accruals and other creditors 130,342 85,226 130,342 85,227
Amount owed to group entities – – 6,512 –
3,144,186 3,149,405 3,102,696 3,131,403
----- End of picture text -----

16. GRANTS

----- Start of picture text -----
Group Group Charity Charity
2025 2024 2025 2024
£ £ £ £
Grants unpaid as at 1 January 3,054,179 2,494,287 3,036,177 2,468,287
Grants awarded in the year 2,602,616 2,843,687 2,562,616 2,833,687
Grants cancelled in the year (140,902) (136,953) (140,902) (136,953)
Grants paid in the year (2,509,549) (2,146,842) (2,499,549) (2,128,844)
Grants unpaid as at 31 December 3,006,344 3,054,179 2,958,342 3,036,177
----- End of picture text -----

AlI grants are payable to institutions. AlI restricted fund grants are made in respect of the fabric of the building of places of worship. Grants are cancelled if not taken up within two years. In addition to the grants awarded by the Group from its own funds, as summarised above, the National Churches Trust managed grant programmes on behalf of other charities (see note 17).

Further details of grants awarded in the year are included within the trustees' Report.

17. FUNDS HELD ON BEHALF OF OTHERS

----- Start of picture text -----
Group & Charity Total Total
2025 2024
£ £
Funds held as at 1 January 10,000 32,000
Funds received in the year 45,100 45,100
Contribution towards grant programme costs (100) (100)
Grants paid out in the year (47,500) (67,000)
Funds held as at 31 December 7,500 10,000
----- End of picture text -----

The National Churches Trust acts as an agent managing grant programmes on behalf of other charities, as summarised above. The movement of these funds is not recognised in the statement of financial activities of the Group.

50

The National Churches Trust – Annual Report & Financial Statements 2025

NOTES TO THE FINANCIAL STATEMENTS – AS AT 31 DECEMBER 2025

18. RESTRICTED FUNDS

----- Start of picture text -----
At Gains and At 31
1 January losses and December
2025 Income Expenditure transfers 2025
£ £ £ £ £
Charity
General HCPT funds 384,960 472,523 (362,228) (139,244) 356,011
ICBS funds for Church of England churches 1,633 978 – – 2,611
Facility grants/Disabled Access 1,130 5,878 (5,331) – 1,677
Maintenance grants 157,820 – (157,820) – –
Wolfson grants 546 400,000 (394,546) – 6,000
Headley grants – 108,000 (108,000) – –
Medium or large grants 150,014 150,000 (138,961) – 161,053
English Churches-Interior Works 30,559 – (24,000) – 6,559
The Cherish Project 1,241,251 (43,000) (744,041) – 454,210
Events – 750 (750) – –
Preserve and Maintain churches in Yorkshire & the Lake District – 210,000 – – 210,000
Listed Buildings – 20,000 (20,000) – –
Church Survey – 2,000 (2,000) – –
Grants for churches in:
Berkshire 2,000 – – – 2,000
Cambridgeshire, Norfolk and Suffolk 4,050 76,357 (3,650) – 76,757
England 50,000 318,333 (320,472) – 47,861
Hampshire and the Islands 313 312 (625) – –
Kent 30,222 – – – 30,222
Northamptonshire/Kettering – 4,000 – – 4,000
Wales 503,518 376,967 (336,518) – 543,967
Worcester/Birmingham/Herefordshire – 10,000 (10,000) – –
Support for Churches in Northern Ireland 175,918 15,471 (126,059) (640) 64,690
Charity total 2,733,934 2,128,569 (2,755,001) (139,884) 1,967,618
– –
The Luke Trust Income funds (note 24) 67,078 (40,000) 27,078
Group total 2,801,012 2,128,569 (2,795,001) (139,884) 1,994,696
----- End of picture text -----

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NOTES TO THE FINANCIAL STATEMENTS – AS AT 31 DECEMBER 2025

----- Start of picture text -----
At Gains and At 31
1 January losses and December
2024 Income Expenditure transfers 2024
£ £ £ £ £
Charity
General HCPT funds 617,603 184,558 (495,138) 77,937 384,960
ICBS funds for Church of England churches 655 978 – – 1,633
Facility grants/Disabled Access 939 4,460 (4,269) – 1,130
Maintenance grants 77,809 272,000 (191,989) – 157,820
Wolfson grants 3,086 400,000 (402,540) – 546
Headley grants – 90,000 (90,000) – –
Medium or large grants 150,000 152,000 (151,986) – 150,014
English Churches-Interior Works 87,228 – (56,669) – 30,559
The Cherish Project 1,793,143 – (550,829) (1,063) 1,241,251
Events – 750 (750) – –
Benefact Trust-Research Project 20,000 – (20,000) – –
Grants for churches in:
Berkshire – 2,000 – – 2,000
Derbyshire – 5,000 (5,000) – –
England – 300,000 (250,000) – 50,000
Hampshire and the Islands 626 313 (626) – 313
Kent 37,430 – (7,208) – 30,222
Suffolk & Norfolk 5,400 400 (1,750) – 4,050
– –
UK (Last Chance Churches) 181,603 230,345 (411,948)
Wales 8,321 740,000 (244,803) – 503,518
– – –
Worcester/Birmingham/Herefordshire 10,000 (10,000)
Support for Churches in Northern Ireland 298,606 24,000 (146,688) – 175,918
Charity total 3,282,449 2,416,804 (3,042,193) 76,874 2,733,934
–
The Luke Trust Income funds (note 24) 52,078 (10,000) 25,000 67,078
Group total 3,334,527 2,416,804 (3,052,193) 101,874 2,801,012
----- End of picture text -----

Transfers between funds are primarily the amount transferred from the unapplied funds of The Luke Trust (£25,000) to be applied towards grants payable.

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The National Churches Trust – Annual Report & Financial Statements 2025

NOTES TO THE FINANCIAL STATEMENTS – AS AT 31 DECEMBER 2025

19. ENDOWMENT FUNDS

----- Start of picture text -----
Basil Brown R de Pass
CT legacy Luke Trust Total
£ £ £ £
At 1 January 2025 203,666 2,234,843 525,455 2,963,964
Donations/Legacy income 30,000 – – 30,000
Investment income – 59,737 16,978 76,715
233,666 2,294,580 542,433 3,070,679
Investment losses (8,835) (85,948) (24,427) (119,210)
At 31 December 2025 224,831 2,208,632 518,006 2,951,469
----- End of picture text -----

----- Start of picture text -----
Basil Brown R de Pass
CT legacy Luke Trust Total
£ £ £ £
At 1 January 2024 160,670 2,128,394 516,501 2,805,565
Donations/Legacy income 40,000 – – 40,000
Investment income – 58,343 20,313 78,656
– –
Transfers (note 20) (25,000) (25,000)
200,670 2,186,737 511,814 2,899,221
Investment gains 2,996 48,106 13,641 64,743
At 31 December 2024 203,666 2,234,843 525,455 2,963,964
----- End of picture text -----

The endowment fund bequeathed by Mr R de Pass must be held permanently by the HCPT. Income which arises from this endowment fund can be used for the maintenance of the fabric of Grade I listed historic parish churches dating from before the Victorian period. A total return resolution for this endowment was passed by the trustees in December 2017 (see note 20). No transfers from the R de Pass legacy to the income fund were made in the year.

The endowment fund held by The Luke Trust must be held permanently. A total return resolution for this endowment was passed by the trustees on 14 June 2018 (see note 20). No transfers from The Luke Trust to the income fund were made during the year. Income which arises from this endowment fund can be used for grants to churches, subject to certain geographical preferences.

The Basil Brown Charitable Trust endowment must be held permanently by the National Churches Trust. Income which arises from this endowment fund can be used for the installation of accessible loos for disabled people and the provision of kitchen facilities within churches, preferably in areas of high deprivation.

nationalchurchestrust.org 53

NOTES TO THE FINANCIAL STATEMENTS – AS AT 31 DECEMBER 2025

20. APPLICATION OF THE POWER OF TOTAL RETURN

The investment power of total return was granted by the trustees for the R de Pass legacy via the passing of a total return resolution on 14 December 2017 and for The Luke Trust on 14 June 2018. The power of total return allows the trustees to decide in each year how much of the unapplied total return is transferred to income funds and so available for grant making expenditure. There was no transfer from the R de Pass legacy in the year (2024: nil). There was no transfer (2024: £25,000) in the year from The Luke Trust.

The investment return and application of total return to income and to the permanent endowment fund is analysed below:

----- Start of picture text -----
R de Pass legacy The Luke Trust
2025 2024 2025 2024
£ £ £ £
Value of endowment as at 1 January 1,918,577 1,877,277 443,041 433,504
Unapplied total return as at 1 January 316,266 251,117 82,414 82,997
Add:
Investment return: income 59,737 58,343 16,978 20,313
Investment return: realised gains – – – 13,315
Investment return: unrealised (losses)/gains (85,948) 48,106 (24,427) 326
Unapplied total return before transfers to income 290,055 357,566 74,965 116,951
Less:
Unapplied total return applied to income – – – (25,000)
Unapplied total return applied to endowment value (61,394) (41,300) (14,177) (9,537)
Unapplied total return as at 31 December 228,661 316,266 60,788 82,414
Value of endowment as at 31 December 1,979,971 1,918,577 457,218 443,041
Permanent endowment including unapplied total 2,208,632 2,234,843 518,006 525,455
return as at 31 December
----- End of picture text -----

54

The National Churches Trust – Annual Report & Financial Statements 2025

NOTES TO THE FINANCIAL STATEMENTS – AS AT 31 DECEMBER 2025

21. ANALYSIS OF NET ASSETS BETWEEN FUNDS

----- Start of picture text -----
Group Unrestricted Restricted Endowment Total
funds funds funds funds
£ £ £ £
Tangible fixed assets 10,470 – – 10,470
Investments 1,932,552 1,494,802 2,806,756 6,234,110
Current assets 1,617,510 3,435,414 144,713 5,197,637
Creditors: due within one year (208,666) (2,935,520) – (3,144,186)
At 31 December 2025 3,351,866 1,994,696 2,951,469 8,298,031
Group Unrestricted Restricted Endowment Total
funds funds funds funds
£ £ £ £
Tangible fixed assets 11,228 – – 11,228
Investments 799,337 2,784,239 2,878,988 6,462,564
Current assets 1,128,455 3,003,020 84,976 4,216,451
Creditors: due within one year (163,158) (2,986,247) – (3,149,405)
At 31 December 2024 1,775,862 2,801,012 2,963,964 7,540,838
Charity Unrestricted Restricted Endowment Total
funds funds funds funds
£ £ £ £
Tangible fixed assets 10,470 – – 10,470
Investments 1,932,552 1,426,234 2,288,750 5,647,536
Current assets 1,624,022 3,428,902 144,713 5,197,637
Creditors: due within one year (215,178) (2,887,518) – (3,102,696)
At 31 December 2025 3,351,866 1,967,618 2,433,463 7,752,947
Charity Unrestricted Restricted Endowment Total
funds funds funds funds
£ £ £ £
Tangible fixed assets 11,228 – – 11,228
Investments 799,338 2,698,692 2,353,533 5,851,563
Current assets 1,128,454 3,003,487 84,976 4,216,917
Creditors: due within one year (163,158) (2,968,245) – (3,131,403)
At 31 December 2024 1,775,862 2,733,934 2,438,509 6,948,305
----- End of picture text -----

The total unrealised gains as at 31 December 2025 constitute movements on revaluation of investments and are as follows:

----- Start of picture text -----
Group Group Charity Charity
2025 2024 2025 2024
£ £ £ £
Unrealised gains at 1 January 2,814,442 2,761,438 2,814,115 2,685,077
Disposal – (89,676) – –
Revaluation (258,454) 142,680 (236,832) 129,038
Total unrealised gains at 31 December 2,555,988 2,814,442 2,577,283 2,814,115
----- End of picture text -----

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nationalchurchestrust.org

NOTES TO THE FINANCIAL STATEMENTS – AS AT 31 DECEMBER 2025

22. OPERATING LEASE COMMITMENTS

Annual commitments of the Group and Charity in respect of operating leases expire as follows:

----- Start of picture text -----
Leasehold property
Group & Charity 2025 2024
£ £
Less than 1 year 40,194 40,194
Between 1 and 2 years 40,194 39,299
Between 2 to 5 years 123,098 15,935
After more than 5 years 149,038 –
352,524 95,428
----- End of picture text -----

Comparative figures are presented based on lease obligations to the next contractual break clause whereas current year figures reflect obligations to the end of the lease term.

23. MEMBERS’ LIABILITY

The company has no share capital and is a charitable company limited by guarantee. The members would be required to contribute a maximum of £10 each in the event of liquidation.

24. THE LUKE TRUST

The Luke Trust, registered charity no. 1000550, is deemed to be a subsidiary of the National Churches Trust as the latter is the sole trustee of the former. The income of The Luke Trust endowment is directed towards churches within the remit of HCPT needing assistance for fabric repair, subject to certain geographical preferences.

A summary of the financial statements of The Luke Trust is as follows:

----- Start of picture text -----
2025 2024
Statement of financial activities £ £
Investment income 16,978 20,313
Charitable activities - grants awarded (less grants cancelled) (40,000) (10,000)
(Losses)/gains on investment assets (24,427) 13,641
Net (decrease)/increase (47,449) 23,954
Balance sheet
Investments 586,574 611,001
Net current liabilities (41,490) (18,468)
Total net assets 545,084 592,533
Restricted funds 27,078 67,078
Permanent endowment funds 518,006 525,455
Total funds 545,084 592,533
----- End of picture text -----

25. RELATED PARTY TRANSACTIONS

In accordance with FRS 102, the Charity has taken advantage of the exemption from disclosing transactions between itself and other group entities (The Luke Trust). The aggregate amount of donations received in the year from trustees was £5,645 (2024: £5,866).

There were no other related party transactions during the year that require disclosure (2024: none) other than those stated in note 9.

56

The National Churches Trust – Annual Report & Financial Statements 2025

Claire Walker (Chief Executive, the National Churches Trust), Hugh Dennis, Rob Rinder and Sir Philip Rutnam (Chair, the National Churches Trust) at the Great Expectations Conference, held at the Victoria & Albert Museum in 2025

57

nationalchurchestrust.org

OUR PEOPLE

Patron

His Majesty King Charles III Vice Patron HRH The Duke of Gloucester KG GCVO ARIBA

Presidents

The Most Revd and Rt Hon Dame Sarah Mullally DBE, Archbishop of Canterbury The Most Revd Stephen Cottrell, Archbishop of York

Vice Presidents Sarah Bracher MBE Anthony Brown Sir Paul Britton CB CVO Bill Bryson OBE The Rt Revd & Rt Hon Lord Chartres GVCO FSA John Drew Dr Jenny Freeman OBE Professor Alan Gillett OBE FRICS Bryan Gray CBE DL Edward Harley CBE The Earl of Harrowby DL FRICS Michael Hoare Rt Revd Nicholas Holtam Dr Bettany Hughes OBE Alastair Hunter FCA Dr John Inge, Bishop of Worcester Lord Inglewood DL Rt Revd Rosemarie Mallett, Bishop of Croydon Luke March OBE, DL Lady Nutting OBE Dr Rory O’Donnell FSA Sir Michael Palin CBE Eric Parry RA Prince Nicholas von Preussen Most Revd George Stack, Archbishop Emeritus of Cardiff Very Revd Henry Stapleton Richard Taylor The Rt Hon the Lord Wallace of Tankerness KC (died 29 January 2026) Revd Lucy Winkett

Our Trustees Sir Philip Rutnam (Chair) Henry Stanford ACA (Treasurer) Sarah Stewart OBE DL (Vice Chair) Shirley Adams JP (died 3 August 2025) Sir Paul Britton CB CVO (retired by rotation 25 September 2025) Gerald Corbett DL Debbie Dance OBE (appointed 25 September 2025) The Rt Revd Vivienne Faull (appointed 26 March 2026) Rev Canon Charles Kwaku-Odoi (appointed 12 June 2025) Donna McDonald Catherine Pepinster Revd Dr Scott Rennie (appointed 25 September 2025) Dr Stephen Sklaroff (resigned 1 October 2025) Dr Nigel Walter FRIBA, FRSA Revd Lucy Winkett (resigned 14 April 2025)

Apprentice Trustee Patrick Zinga (appointed 12 June 2025) Grants Committee Dr Nigel Walter FRIBA, FRSA (Chairman) Judith Alfrey William Arnold Isabel Assaly June Butler (appointed 3 July 2025) Marcus Chantrey Angie Creswick James Crowley Debbie Dance OBE (appointed 13 November 2025) Robert Gray (appointed 6 March 2025) Edward Kepcyzk Jill Kerry (resigned 3 July 2025) Donna McDonald (retired 13 November 2025) Treasure Ireland Grants Committee June Butler MBE Roisin Doherty The Very Rev. Hugh P. Kennedy M.A., D.D Jill Kerry Philippa Martin Neil Moore Alastair Rankin Alan Ross Nominations Committee Sir Philip Rutnam (Chairman) Sir Paul Britton CB CVO (retired by rotation 25 September 2025) Donna McDonald (appointed 11 December 2025) Catherine Pepinster Sarah Stewart OBE DL Revd Lucy Winkett (resigned 14 April 2025) Risk and Audit Committee Henry Stanford ACA (Chairman) Shirley Adams JP (died 3 August 2025) Gerald Corbett DL Rachael Henry Rev Canon Charles Kwaku-Odoi (appointed 7 October 2025) Dr Stephen Sklaroff (resigned 1 October 2025) Chief Executive and Secretary Claire Walker Staff Rachael Adams, Head of Communications Rosalinde de Best-Allott, Finance and Governance Officer Gillian Bull Mott, Church Support Administrator Amy Burcher, Church Support Officer Ruby Cosford, Fundraising Officer Sarah Crossland, Head of Stakeholder Engagement Isidore Hiscock, Church Support Officer Jon Hodges, Cherish Project Manager Oliver Lack, Communications and Public Affairs Officer David Lynch, Cherish Support Officer (Scotland) Matthew Maries, Cherish Support Officer (England: North West) Lydia McCutcheon, Head of Fundraising Nigel Mills, Grants Manager Karl Newton, Deputy Chief Executive

58

The National Churches Trust – Annual Report & Financial Statements 2025

Donors and support

We are grateful to the many Trusts, Foundations and Donors who generously support us, including those listed here, and others who prefer to remain anonymous.

Staff (continued)

Anne-Marie O’Hara, Cherish Support Officer (Scotland)

Anastasia Pels, Fundraising Officer Kerry Rooney, Support Officer (Treasure Ireland) Gareth Simpson, Cherish Support Officer (Wales) Ben Sims, Head of Policy and Public Affairs Catherine Townsend, Director of Church Engagement Clare Wand, Head of Finance Cathryn Wynn-Jones, Social Media and Content Producer

Volunteers

We are grateful to our dedicated volunteers whose generosity helps support our work.

Charity Numbers

The National Churches Trust 1119845 The Luke Trust 1000550

The National Churches Trust Company Number 06265201 (England and Wales)

The National Churches Trust VAT Number 450748780

Principal Address and Registered Office 7 Tufton Street London SW1P 3QB

Auditor Buzzacott Audit LLP 130 Wood Street London EC2V 6DL Bankers CAF Bank 25 King's Hill Avenue, West Malling Kent ME19 4JQ HSBC Bank Plc First Floor, 60 Queen Victoria Street London EC4N 4TR

Investment Managers CCLA Investment Management Limited One Angel Lane London EC4R 3AB James Hambro and Partners 45 Pall Mall London SW1Y 5JG W1M Wealth Management Ltd 16 Babmaes Street London SW1Y 6AH Solicitors Broadfield Law UK LLP One Bartholomew Close London EC1A 7BL

Major donors

William R Aldwinckle Richard Broyd CBE Peter & Diana Butler Richard Carr-Archer Richard Cormack Iain Stewart Richard Taylor Lord Antony and Lady Angela Wedgwood

Trusts and Foundations

Allen Charitable Trust Antelope Trust Aslackby Trust Atlas Fund Bartleet Family Fund Basil Brown Charitable Trust Cadw Cedars Trust Centre for the Study of Christianity and Culture Condon Family Trust Department for Communities Northern Ireland Dulverton Trust Earl Mawby Trust England Charitable Trust Esme Mitchell Trust Eversley Charitable Trust Fulmer Charitable Trust G M Morrison Charitable Trust Headley Trust Health Foundation Hodge Foundation Ian Askew Charitable Trust Jamuna Trust John Booth Charitable Foundation Kathleen Hannay Memorial Charity Lady Elliotts Charitable Trust LJC Fund Ltd Marsh Charitable Trust McCorquodale Charitable Trust Mill Garden Trust Moneybury Charitable Trust Monkswold Trust Moondance Foundation National Lottery Heritage Fund O J Colman Charitable Trust Oakley Charitable Trust Oldcastle Charity Orr Mackintosh Foundation Ltd (ShareGift) Paravicini Dyer Charitable Trust Paypal Giving Fund Pilgrim Trust Privy Purse Charitable Trust Rhododendron Trust Roger & Douglas Turner Charitable Trust S and D Lloyd Charity Sabina Sutherland Charitable Trust Ursula Gunnery Charitable Trust Viccarage Trust Volvox Trust W E Dunn Charitable Trust Wolfson Foundation

nationalchurchestrust.org 59

WE WANT TO KEEP THE UK’S WONDERFUL COLLECTION OF CHURCH BUILDINGS WELL MAINTAINED, VALUED AND IN USE.

Since 2007, we’ve helped keep over 2,000 churches, chapels and meeting houses open, in good repair and supporting local people. Working on the ground in all four nations, we support churches of all denominations. Our vision is to see open churches thriving at the heart of their communities.

To find out how you can help us visit: nationalchurchestrust.org/support-us

Email: [e-mail] or call: 020 7222 0605

You can support the work of the National Churches Trust by making a donation online: nationalchurchestrust.org/donate

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@natchurchtrust

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The National Churches Trust 7 Tufton Street, London SW1P 3QB Telephone: [phone] Web: nationalchurchestrust.org Email: [e-mail]

Published by the National Churches Trust © 2026

Company registered in England Registration number 06265201 VAT registration number 450748780

Registered charity number 1119845