REGISTERED CHARITY NUMBER.. 1120505
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 31 December 2023
THE ST GEORGE'S HANOVER SQ FOUNDATION
Maven Accountants Limited
PO Box 1882
Southampton
Hampshire
S015 9JZ

THE ST GEORGE'S HANOVER SQ FOUNDATION
Contents of the Financial Statements
for the Year Ended 31 December 2023
Page
Reference and Administrative Details
Report of the Trustees
Independent Examiner's Report
Stalemenl of Financial Activities
Balance Sheet
Cash Flow Slalement
Notes to the Cash Flow Slalement
Notes to the Financial S18tements
10 to 15
Detailed Statement of Financial Activilies
16

THE ST GEORGE'S HANOVER SQ FOUNDATION
Reference and Administrative Details
for the Year Ended 310ecember 2023
TRUSTEES
G E Barnes
Trustee
M A Hewitt
Trustee
Rev R N S Leece Rector
PRINCIPAL ADDRESS
Sl George's Vestry
2a Mill Street
London
W1S 1FX
REGISTERED CHARITY
NUMBER
1120505
INDEPENDENT EXAMINER Maven Accountants Limited
PO Box 1882
Southampton
Hampshire
S015 9JZ
SOLICITORS
Lee Bolton Monier-williams
1 The Sanctuary
Westminster
WC2A 3JF
Page 1

THE ST GEORGE'S HANOVER SQ FOUNDATION
Report of the Trustees
for the Year Ended 31 December 2023
The trustees present their report with the financial statements of the charity for the year ended
31 December 2023. The trustees have adopted the provisions of Accounting and Reporting by
Charities.. Statement of Recommended Pr8clice applicable lo charities preparing their accounts in
8ccordance with the Financial Reportir)g Standard applicable in the UK and Republic of Ireland IFRS
1021 leffeclive 1 January 20191.
Structure, governance and management
The Sl George's Hanover Square Foundation was created by a trust deed dated 20 July 2007 and
commenced activities on 1 November 2007.
The Rector and bNO Church Wardens are the ex-officio trustees. The Rector is appointed by the
Bishop of London Ilhe Patron of the Parish) and the Church Wardens are elected annually by the
Annual Parochial Church Meeting of St George's Church, Hanover Square, London W1.
The key management personnel of the Charity as listed on page 1 are in charge of directing,
controlling, running and operating the charity on a day lo day basis. All trustees give of their time
freely and no trustee received any remuneration in the year. The Parish Administrator received no
remuneration from the charity. Details of Iruslees, expenses and related party transactions are
disclosed in Note 7 to the financial statements.
OBJECTIVES AND ACTIVITIES
Objectives and aims
The Foundation was established lo support the repair and maintenance of the fabric and facilities of
Sl George's Chur¢h, Hanover Square, London W1. The Iruslees confirm that they have had due
regard lo the guidance issued by the Charity Commission relating to public benefit when planning
their objectives and activities.
Its immediate purpose was lo raise funds to support the continuing responsibility of the PCC to
complete the restoration and refurbishment of Sl George's carried out in 2010 and to complete the
project to replace the organ two years later. Having fulfilled these objectives, il has a further purpose
lo raise funds to provide endowment income lo maintain the fabric of the building and its facilities for
future generations.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
The Foundation can take pride in Ihe role it played in facilitating the successful repair and
refurbishment of St George's and the installation of a new organ. Fundraising in a difficult financial
climate proved challenging. Support from the Parish Community and its wider circle of friends was
exemplary but, with honourable and notable exceptions. this was not matched by similar levels of
support either from businesses within the geographical parish or from grant making trusts and
foundations.
Activity during the year under review consisted of..
Managing pledges made earlier in the fundraising campaign and processing occasional larger
donations.
Funding a subslanlial reduction in the capital sum loaned to the PCC by the Hyde Park Place Eslale
Charity.
Page 2

THE ST GEORGE'S HANOVER SQ FOUNDATION
Report of the Trustees
for the Year Ended 31 December 2023
FINANCIAL REVIEW
Financial position
Details of the financial position of the Foundation are sel out on the following pages.
Reserves policy
All of the funds raised by the Foundation will be used lo fund work at Sl George's Church. Hanover
Square. The Foundation therefore has no formal reserves policy.
Going concern
The charity had nel assets at the year-end of £298,800 (2022.. £265,935). The trustees continue to
adopt the going concerri basis of accounting in preparing the financial statements.
Risk Assessment
The major risks to which the Foundation is exposed, as assessed by the Trustees, have been
reviewed.
Based on this risk review, the Trustees consider the most relevant risks, and the means by which
they may be mitigated, to be as follows..
Risk 1. Failure to comply with requirements of charity & regulatory law. Miligaled by vigilance of
trustees and key personnel.
PLANS FOR FUTURE PERIODS
Funding will continue to be required to facilitate the following:_
Interior fabric work. Future work lo the interior will concentrate on the refurbishment of pews
both in the galleries and downstairs and the re-ordering of the baptistery and sanctuary areas.
Exterior fabric work. Cleaning high levels under the portico. Repair high level exterior
stonework as identified in the 2014 Quinquennial Report.
Routine fabri¢ maintenance. It is to be anticipated that a substantl81 sum (probably of the
order of £20,000) a year will need to be spent yearly on routine repairs and maintenance to
the fabric of Sl George's if il is to retain its current high level of slruclural and decorative
integrity.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its goveming document, a deed of trust and conslilules an unincorporated
charity.
Approved by order of the board of trustees on 29, October 2024 and signed on its behalf by:
A Hewitt - Trustee
Page 3

Independent Examinerfs Report lo the Trustees of
St Georye's Hanover Square FoLJndalion
Independent examlnerfs report to the trustees of The St George's Hanover Sq Foundatlon
I report to the charity Iruslees on my examination of the accounts of The St George's Hanover Sq.
Foundation {Ihe Trust) for the year ended 31 December 2023.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in
accordance with the requirements of the Charities Act 2011 ('the Act'l.
I report in respect of my examination of the Trust's accounts carried out under Section 14S of the
Act and in carrying out my examination I have followed au applicable Directions given by the Charity
Commission under Section 14515llbl of the Act.
Independent examiner's statement
Since your charity's gross income exceeded £250,000 your examiner musl be a member of a listed
body. I can confirm that l am qualified lo undertake the examination because l am a member of the
Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
I have completed my examination. I confirm that no rralerial matters have come to my attention in
connection with the examination giving me cause lo believe that in any material respect..
accounting records were not kept in respect of the Trust as required by Section 130 of the Act.,
or
the accounts do not accord with those records- or
the accounts do not comply with the applicable requirements concerning the form and content
of accounts set out in the Charities (Accounts and Reports} Regulations 2008 other than any
requirement that the accounts give a true and fair view which is not a maller considered as
part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination lo
which 811ention should be drawn in this report in order to enable a proper understanding of the
accounts to be reached.
L-
Maven Accountants Limited
The Institute of Chartered Accovnlants in England and Wales
Maven Accountants Limited
PO Box 1882
Soulhamplon
Hampshire
S015 gJZ
Dale..
ZgZ+
Page 4

THE ST GEORGE'S HANOVER SQ FOUNDATION
Slalemenl of Financial Activities
for the Year Ended 31 December 2023
31.12.23
Unrestricted
fund
31.12.22
Total
funds
Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
488,754
44,354
Investment income
8,883
4,301
Total
497,637
48,655
EXPENDITURE ON
Raising funds
Other trading activities
216
216
216
216
Charltable activities
Charitable Activites
464,556
60.229
Total
464.772
60,445
NET INCOMEIIEXPENDITURE}
32,865
111,790)
RECONCILIATION OF FUNDS
Total funds brought forward
265,935
277.725
TOTAL FUNDS CARRIED FORWARD
298,800
265,935
CONTINUING OPERATIONS
All income and expenditure has arisen from continuing activities.
The notes form part of these financial statements
Page 5

THE ST GEORGE'S HANOVER SQ FOUNDATION
Balance Sheet
31 December 2023
31.12.23
Unrestricted
fund
31.12.22
Total
funds
Notes
CURRENT ASSETS
Debtors.. amounts falling due within one
year
Debtors.. amounts falling due after more
than one year
Prepayments and accrued income
Cash at bank
560
111,533
550
188.817
103,853
163,622
300,900
268,035
CREDITORS
Amounts falling due within one year
{2,100}
12,1001
NET CURRENT ASSETS
298,800
265,935
TOTAL ASSETS LESS CURRENT
LIA81LITIES
298,800
265,935
NET ASSETS
298.800
265,935
FUNDS
Unrestricted funds
298,800
265,935
TOTAL FUNDS
298,800
265,935
The financial slalements were approved by the Board of Trustees and aulhorised for issue on
29 October 2024 and were signed on its behalf by..
A Hewltt - Tnjstee
The notes form part of these financial statements
Page 6

THE ST GEORGE'S HANOVER SQ FOUNDATION
Cash Flow Statement
for the Year Ended 31 December 2023
31.12.23
31.12.22
Notes
Cash flows from operating activities
Cash generated from operations
16,312
122,3771
Nel cash provided byl{used in) operating
activities
16,312
{22,3771
Cash flows from investing activities
Interest received
8,883
4,301
Nel cash provided by investing activities
8,883
4,301
Change in cash and cash
equivalents in the reporting
period
Cash and cash equivalents at the
beginning of the reporting period
25,195
{18,0761
163,622
181,698
Cash and cash gquivalonts at the
end of the reporting period
188,817
163,622
The notes form part of these financial slalements
Page 7

THE ST GEORGE'S HANOVER SQ FOUNDATION
Notes lo the Cash Flow Statement
for Ihe Year Ended 31 December 2023
RECONCILIATION OF NET INCOMEI{EXPENDITUREI TO NET CASH FLOW FROM
OPERATING ACTIVITIES
31.12.23
31.12.22
Net incomel{expenditure} for the reportlng period {as per
the Statement of Financlal Activities)
Adjustments for:
Interest received
Increase in debtors
Decrease in creditors
32,865
{11,790)
18,8831
17,6701
14,301)
13,994}
12,292)
Net cash provided byllused in) operations
16,312
{22,377)
ANALYSIS OF CHANGES IN NET FUNDS
Al 1.1.23
Cash flow At 31.12.23
Net cash
Cash al bank
163,622
25,195
188.817
163,622
25,195
188,817
Total
163,622
25,195
188.817
The notes form part of these financial statements
Page 8

THE ST GEORGE'S HANOVER SQ FOUNDATION
Notes to the Financial Slalements
for the Year Ended 31 December 2023
ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial slalemenls of the charity, which is a public benefit entity under FRS 102, have
been prepared in accordance with the Charities SORP {FRS 1021 'Ac¢ounting and Reporting
by Charities.. Statement of Recommended Practice applicable lo charities preparing their
accounts in accordance with the Financial Reporting Standard applicable in the UK and
Republic of Ireland IFRS 1021 (effective 1 January 20191,, Financial Reporting Standard 102
'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the
Charities Act 2011. The financial slalements have been prepared under the historical cost
convention.
Income
Voluntary income and donations {including legacies) are accounted for once the charity has
entitlement lo the income, it is probable the income will be received and the amount of
income receivable can be reliably measured. Where material assets are donated lo the
charity for its use, these are capilalised at the estimated market value al the dale of the gift
and included under income.
Expenditure
(il Expenditure is accrued as soon as a liability is considered probable, discounted lo
present value for longer term liabilities. Charitable expenditure includes all support
costs in respect of the charity's activities.
lill Raising funds includes all expenditure in relation to obtaining funding for the
charity to meet ils charitable aims including exchange gains or losses.
{iiil Governance costs cotnprise all experTrditure to comply with statutory and
legal requirements and are included in charitable expenditure.
Grants offered subject lo conditions which have not been met at the year end date are noted
as a commitment bul not accrued as expenditure.
Raising funds
Unreslricled funds represent the funds of the charity that are not subject to any restrictions
regarding their use and are available for application to the general purposes of the charity.
Taxation
The charity is exempl from lax on ils charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives al the discrelion
of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the
charity. Restri¢lions arise when specified by the donor or when funds are raised for particular
restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the
financial slalements.
Page 9
continued...

THE ST GEORGE'S HANOVER SQ FOUNDATION
Notes to the Finan¢ial Statements- continued
for the Year Ended 31 December 2023
ACCOUNTING POLICIES- contlnued
Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling al the rates of
exchange ruling al the balance sheet date. Transaclions in foreign currencies are translated
into sterling al the rate of exchange ruling at the date of transaction. Exchange differences are
taken into account in arriving at the operating result.
DONATIONS AND LEGACIES
31.12.23
31.12.22
Gifts
Donations
Gift aid
Grants
414,786
550
73,418
2,360
561
41,432
488.754
44,354
Granls received, included in the above, are as follows..
31.12.23
31.12.22
HPPEC
73,418
41,432
INVESTMENT INCOME
31.12.23
31.12.22
Deposit accoLtnt interest
Interest from loan
1,203
7,680
308
3,993
8,883
4,301
CHARITABLE ACTIVITIES COSTS
Grant
funding of
activities
Direct
Costs
Support
costs
Totals
Charitable Activities
3.060
459,174
2,322
464,556
Page 10
continued...

THE ST GEORGE'S HANOVER SQ FOUNDATION
Notes to the Financial Statements - continued
for the Year Ended 31 December 2023
TRUSTEES. REMUNERATION AND BENEFITS
There were no trustees, remuneration or other benefits for the year ended
31 December 2023 nor for the year ended 31 December 2022.
Trustoes. expenses
There were no trustees, expenses paid for the year ended 31 December 2023 nor for the
year ended 31 December 2022.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
fund
INCOME AND ENDOWMENTS FROM
Donations and legacies
44,354
Investment income
4,301
Total
48,655
EXPENDITURE ON
Raising funds
Other trading activities
216
216
Charitabl¢ actlvities
Charitable activities
60,229
Total
60,445
NET INCOMEI(EXPENDITURE)
(11.7901
RECONCILIATION OF FUNDS
Total funds brought forward
277,725
TOTAL FUNDS CARRIED
FORWARD
265,935
Page 11
continued...

THE ST GEORGE'S HANOVER SQ FOUNDATION
Notes to the Financial Statements - continued
for the Year Ended 31 December 2023
DEBTORS
31.12.23
31.12.22
Amounts falling due within one year..
Prepayments and accrued income
560
Amounts falling due after more than one year..
Loan to SGHS Enterprises Limited
111,533
103,853
Aggregate amounts
111.533
104,413
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23
31.12.22
Other creditors
2.100
2.100
MOVEMENT IN FUNDS
Net
movement
in funds
At 1.1.23
31.12.23
Unrestricted funds
General fund
265,935
32,865
298,800
TOTAL FUNDS
265,935
32,865
298,800
Nel movement in funds, included in the above are as follows..
Incoming Resources Movement
resources
expended
in funds
Unrestricted funds
General fund
497,637
1464,772)
32,865
TOTAL FUNDS
497,637
1464,7721
32,865
Page 12
continued...

THE ST GEORGE'S HANOVER SQ FOUNDATION
Notes to the Financial Statements - continued
for the Year Ended 31 December 2023
MOVEMENT IN FUNDS - continued
Comparatlv¢s for movement in funds
Nel
movement
in funds
At
31.12.22
Al 1.1.22
Unrestricted funds
General fund
277,725
111.7901
265,935
TOTAL FUNDS
277,725
111,7901
265.935
Comparative nel movement in funds, included in the above are as follows..
Incoming Resources Movement
resources
expended
in funds
Unrestricted funds
General fund
48,655
160,4451
(11,790)
TOTAL FUNDS
48.655
160,4451
{11.7901
A current ye2r 12 months and prior year 12 months combined position is as follows-
Net
movement
in funds
Al
31.12.23
Al 1.1.22
Unrestricted funds
General fund
277,725
21,075
298,800
TOTAL FUNDS
277,725
21.075
298,800
A current year 12 months and prior year 12 months combined nel movement in funds,
included in the above are as follows..
Incoming Resources Movement
resources
expended
in funds
Unreslrlcted funds
General fund
546,292
{525,2171
21,075
TOTAL FUNDS
546,292
{525.2171
21,075
Page 13
continued...

THE ST GEORGE'S HANOVER SQ FOUNDATION
Notes to the Financial Slalements - continued
for the Year Ended 31 December 2023
10. RELATED PARTY DISCLOSURES
The charity is connected to Sl George's Church, Hanover Square, SGHS Enterprises
Limited and Hyde Park Place Estate Charity by way of mutual trustees or directors.
During the year, the charity made grants of £459.174 {2022= £60,000) to St George's
Church, Hanover Square, of which The Rector, Revd. Roderick N S Lee¢e, Mr M Hewitt and
Mr G E Bames, are Trustees.
During the year, the charity charged interest of £7.68012021'. £3.9931 to, SGHS Enterprises
Limited, of which The Rector. Revd. Roderick N S Leece. Mr M Hewitt and Mr W M C
Beckett, are directors. Al the year end the company owed the charity £111,53312022'.
£103,853).
The charity received grants in the year of £73,418 {2022'. £41,376) from Hyde Park Place
Estate Charity, a charity of which The Rector, Revd. Roderick N S Leece, Mr M Hewitt and
Mr G E Barnes are Trustees.
11. UNRESTRICTED GENERAL FUND BALANCES
The general fund balances al 31 December 2023 all relate to unrestricted funds for the
purposes of the Slalement of Recommended Practice Accounting and Reporting by
Charities (Charities SORP IFRS102}}.
Page 14

THE ST GEORGE'S HANOVER SQ FOUNDATION
Detailed Statement of Financial Activities
for the Year Ended 31 December 2023
31.12.23
31.12.22
INCOME AND ENDOWMENTS
Donations and lega¢les
Gifts
Donations
Gift aid
Grants
414,786
550
73,418
2,360
561
41,432
488,754
44,354
Investment income
Deposit account interest
Interest from loan
1.203
7,680
308
3,993
8.883
4,301
Total incoming resources
497,637
48,655
EXPENDITURE
Other trading a¢tlvities
Miscellaneous fundraising cost
216
216
Charltable activltles
Accountancy fees
Independent Examination fees
Grants lo inslilulions
1,860
1,200
459,174
900
1,200
60,000
462,234
62,100
Support costs
Governance costs
Realised Currency GainslLosses
2,322
11,871)
Total resources expended
464,772
60,445
Net incomellexpenditurel
32.865
{11,790}
This page does not form part of the statutory financial statements
Page 15