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← The Lambeth Conference

2023-12-31-accounts

THE LAMBETH CONFERENCE

(A Charitable Company Limited by Guarantee)

==> picture [245 x 71] intentionally omitted <==

REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

Registered Charity No. 1121679 Company No. 05985741

THE LAMBETH CONFERENCE REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDING 31 DECEMBER 2023

CONTENTS

Reference and Administrative details of the Charity, its Trustees and Advisors 1
Annual Report of the Trustees 2
IndependentExaminer’sReport to the Members of The Lambeth Conference 9
Statement of Financial Activities 10
Balance Sheet 11
Statement of Cash Flows 12
Notes to the Financial Statements 13

THE LAMBETH CONFERENCE

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISORS

CONSTITUTION

The Lambeth Conference was incorporated by guarantee on 1 November 2006. It has no share capital and is a registered charity. The guarantee of each member is limited to £1. The governing document is the Memorandum and Articles of Association of the charity and members of the Board of Trustees are also the Directors of the charity for the purpose of Company law.

TRUSTEES

The trustees during the financial year ending 31 December 2023 and up to the date of the signing of this trustees’ report were the following:

The Revd Ijeoma Ajibade (appointed 4 July 2023) Lord Stephen Green (Chair until 4 July 2023) (resigned 4 July 2023) Mr Carl Hughes (Chair from 4 July 2023) The Right Reverend Emma Ineson (resigned 23 February 2023) Ms Beverley Jullien Mr Christopher Lawrence Mrs Adebimpe Nkontchou (resigned 4 July 2023) The Right Reverend Anthony Poggo Mr Julian Roberts (resigned 4 July 2023) Mr Roland Rudd (resigned 4 July 2023) The Right Reverend Timothy Thornton (resigned 4 July 2023)

COMPANY SECRETARY The Right Reverend Dr Joanne Caladine Bailey Wells

REGISTERED OFFICE St Andrew’s House 16 Tavistock Crescent Westbourne Park LONDON W11 1AP

SOLICITORS Winckworth Sherwood 16 Beaumont Street OXFORD OX1 2LX INDEPENDENT EXAMINER Moore Kingston Smith 9 Appold Street London EC2A 2AP BANKERS Royal Bank of Scotland 49 Charing Cross LONDON SW1A 2DX

1

ANNUAL REPORT OF THE TRUSTEES

The trustees are pleased to present this report and Financial Statements for the year ended 31 December 2023.

Structure, Governance and Management

The Lambeth Conference Company . Up to and including the 1998 Lambeth Conference, the business and financial activities of Lambeth Conferences had been subsumed into the Anglican Consultative Council which is itself a registered charity. It was decided in 2006, however, that the scale and turnover of the conference made it more sensible to create a separate charitable company limited by guarantee. The company was accordingly incorporated by guarantee on 1 November 2006.

The primary object of the charity is the advancement of the Christian faith and in particular for promoting mutual understanding and collective spiritual formation among the bishops of the Anglican Communion. In October 2018 these objects were extended to include “for the advancement of education, by teaching and training the bishops and spouses of bishops of the worldwide Anglican Communion to fulfil their roles”.

The company has no share capital and is a registered charity. The guarantee of each member is limited to £1. The governing document is the Memorandum and Articles of Association of the charity and members of the Board of Trustees are also the directors of the charity for the purpose of company law.

The Anglican Communion is a worldwide fellowship of 42 Provinces and 6 other churches which are held together by bonds of affection and common loyalty, expressed through links with the Archbishop of Canterbury as the focus for unity, and the “Instruments of Communion” which are -

2

The Conference

Convened by the Archbishop of Canterbury in 2022, the Lambeth Conference is an international meeting of Anglican bishops. The 2022 meeting was the fifteenth conference. Its theme was ‘God’s Church for God’s World – Walking, listening and witnessing together’. The conference discusses church and world affairs and the global mission of the Anglican Communion for the decade ahead. A joint programme for Bishop’s spouses also ran.

The fifteenth Lambeth Conference has been designed to run in phases:

Phase 1 – Listening Together: Bishops met pre-event for online conversations (2021-22). Phase 2 – Walking Together: The conference community met in Canterbury (2022). Phase 3 – Witnessing Together: Taking the outcomes of the conference forward (2023-26).

About Phase 2

The in-person phase of the conference met in Canterbury between July 27 to August 8, 2022. The event combined Bible Study, daily prayer, worship, plenary sessions, services at Canterbury Cathedral, a seminar programme and an additional programme for spouses. Bishops discussed a series of ‘Lambeth Calls’ on matters relevant to the life of the Anglican Communion and the role of the Anglican churches around the world. A day at Lambeth Palace was also included for discussions on the environment and sustainable development.

A wide range of resources were created for Phase 1 and 2 – which can be seen on the Lambeth Conference website, www.lambethconference.org.

Thank you to our wonderful and generous donors who supported the Lambeth Conference.

Impact Statistics

Conference Community

3

Conference Discussions: Lambeth Calls and Statements of Support

Programme Delivery

New Initiatives

Team

Media

4

Phase 3 has now commenced and will follow through with the outputs from the conference. The Trustees agreed that this work should continue within the Anglican Consultative Council (ACC) under the direction of the Secretary General of the Anglican Communion in consultation with a Phase 3 Steering Group. Bishop Jo Bailey Wells was appointed to lead Phase 3 in a newly created role of the Director for Episcopal Ministry in the Anglican Communion employed by the ACC.

A campaign called ‘Add Your Voice to the Call’ has been initiated and continues as a series of global discussions on each of the Lambeth Call themes. A steering group was set up to oversee the process, made up of representatives from around the Anglican Communion. Phase 3 invites not only the conference community but the wider church to participate in a webinar on each of the Lambeth Calls. By July 2024 five of the ten Lambeth Calls have been delivered through webinars. A series of Bible Study Resources and Learning Materials are developed and released with each of these webinars to promote discussion and debate in up to 8 languages. More information can be seen on the website: The Lambeth Conference – God’s ’ Church for God s World .

The Lambeth Conference trustees meet twice a year and continue to oversee surplus funds from the conference. Funds are granted to the ACC on a six-monthly basis against full reports and budgets from Bishop Jo in terms of realising the aims and objectives of Phase 3.

Risk Assessment

The trustees reviewed, during the year, an assessment of the risks to which the charity is exposed. The trustees s trengthened the conference planners’ risk management procedures, defining anticipated risks and planned mitigation and subsequent measures. These were reviewed regularly in the lead up to the conference.

Now that the 2022 conference is complete and the insurance claim received the future risks will be considered by Trustees. These will include:

5

Trustees

Three trustees are appointed by virtue of their role: a member of the senior Lambeth Palace staff nominated by the Archbishop of Canterbury, the Secretary General of the Anglican Communion and the Provincial Secretary of the host province for the next conference (or an agreed alternative nominated by the Primate of the host Province of the next conference made in consultation with the Provincial Secretary of that Province). The trustees met twice in 2023.

Public Benefit

In compiling this report, the trustees have given due regard to the public benefit guidance as issued by the Charity Commission. The trustees believe that the Christian faith is of benefit to society and individuals as it brings a vision of transformation for peace and social harmony. This is derived from the Christian belief that God’s ultimate purpose is to bring all things into unity and perfection in Jesus Christ.

The charity is established as an initiative of the Archbishop of Canterbury for the advancement of education and the Christian faith and in particular for promoting mutual understanding and collective spiritual formation among the bishops of the Anglican Communion and eligible Spouses.

With a presence in over 165 countries, the Anglican Communion is one of the world’s largest global Christian denominations. In sharing good news, serving communities and working for social justice, the Anglican Communion plays a significant part in the global witness of the wider church. The charity will work to enable Anglican bishops from across the world to gather, pray and discern the vocation of the Anglican Communion for the decade ahead.

Review of Financial Position for the Year Ended 31 December 2023

The Unrestricted General Fund produced a net expenditure of (£91,086) for the year taking the unrestricted reserves to £1,410,907 at the year end. There were no movements in the Restricted Fund during 2023. The total reserves at year end were £1,410,907 (2022: £1,501,993).

The results for the year and the state of affairs as at 31 December 2023 are shown on pages 10 and 11 respectively.

6

Investment Policy

The trustees determined that funds surplus to working capital requirements should be placed on deposit at CCLA Investment Management Limited within their Charities Official Investment Fund (COIF). This allows the charity to benefit from deposit interest rates without exposure to capital losses which would be unpalatable. During 2023 the average income yield on the deposit was 3.97% (2022: 0.88%)

The COIF Charities Deposit Fund was chosen by the trustees to ensure ethical and sustainable investment in line with Lambeth Conference principles. Only charitable organisations can invest in the fund which follows a client-driven ethical investment policy. CCLA monitor counterparties' environmental, social and governance risk management on a regular basis. The research utilises external data resources and an in-house Ethical and Responsible Investment Team. The portfolio is invested only in cash and near cash assets with a managed list of approved, high-quality counterparties.

Reserves Policy

The trustees’ policy was to have sufficient funds available to meet any future cash flow requirements. A portion of the surplus funds held at the end of the conference has been used to implement the actions from the conference in Phase 3 and an amount of £200,000, indexlinked from 2022, will be invested and held in reserve for future Lambeth Conferences.

Free reserves of the charity at 31 December 2023 were £1,410,907 (2022: £1,501,342). Free reserves are defined as the balance on the General Fund excluding the value of tangible fixed assets.

Trustees’ Responsibilities Statement in Relation to the Financial Statements

The law applicable to charities in England and Wales requires the trustees to prepare the annual report and financial statements for each financial year, which give a true and fair view of the state of affairs of the charity as at the balance sheet date and of its income and expenditure. In preparing these financial statements, the trustees should follow best practice and:

7

The trustees are responsible for keeping accounting records which disclose with reasonable accuracy the financial position of the charity and which enable them to ascertain the financial position of the charity and ensure that the financial statements comply with the Companies Act 2006. The trustees are responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees have taken advantage of the exemptions under the small entities regime.

Independent Examiners

The Independent Examiners, Moore Kingston Smith, have signified their willingness to continue in office.

Approved by the trustees and signed on their behalf by:

Carl Hughes (Chair)

Dated 15th August 2024

8

Independent Examiner’s report to the Members of The Lambeth Conference

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2023.

Responsibilities and basis of report

As the charity's trustees (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ("the 2006 Act").

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ("the 2011 Act"). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145 (5) (b) of the 2011 Act.

Independent Examiner's Statement

Since the Company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I 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 matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

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Adam Fullerton (FCA, DChA) For and behalf of Moore Kingston Smith LLP Chartered Accountants

6th Floor 9 Appold Street London

EC2A 2AP

Date: 15th August 2024

9

The Lambeth Conference Statement of Financial Activities For the Year Ended 31 December 2023

Notes
Income
Donations
Grants Received
Other Income–
insurance claim
Investment
Income
Total Income
Expenditure
Charitable Activities
Conference of Bishops of
the Anglican Communion
2
Total
Expenditure
Inter Account
Transfers
Net Movement
in Funds
3
Total funds brought
forward
Total funds carried
forward		 Unrestricted
Funds
Restricted
Funds
Total
2023
Unrestricted
Funds
Restricted
Funds
Total
2022
£
£
£
£
£
£
70
-
70
777,993
256,304
1,034,297
976
-
976
2,881,697
-
2,881,697
700,653
-
700,653
367,896
-
367,896
44,355
-
44,355
25,506
-
25,506
746,054
-
746,054 4,053,092
256,304
4,309,396
837,140
-
837,140
4,688,662
2,478,076
7,166,738
837,140
-
837,140
4,688,662
2,478,076
7,166,738
-
-
-
(10,446)
10,447
-
(91,086)
-
(91,086)
(646,016)
(2,211,326)
(2,857,342)
1,501,993
-
1,501,993
2,148,009
2,211,326
4,359,335
1,410,907
-
1,410,907
1,501,993
-
1,501,993

All activities relate to ongoing operations. The charity has no recognised gains or losses other than the net movement in funds for the year shown above. The Statement of Financial Activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

10

The Lambeth Conference (Company No. 05985741) Balance Sheet as at 31 December 2023

Notes
Fixed Assets
Tangible Assets
4
Current Assets
Debtors
5
Cash at bank and in hand
Current Liabilities
Creditors: Amounts falling
due within 1 year
6
Net Current Assets
Total Assets less
Liabilities
Creditors: Amounts
falling due after more
than 1 year
Total Net Assets
Fund Balances		 Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
Funds
Funds
2023
Funds
Funds
2022
£
£
£
£
£
£
-
-
-
651
-
651
826
-
826
17,552
106,630
124,182
1,414,183
-
1,414,183
1,680,848
(106,630)
1,574,218
1,415,009
-
1,415,009
1,698,400
-
1,698,400
4,102
-
4,102
197,058
-
197,058
1,410,907
-
1,410,907
1,501,342
-
1,501,342
1,410,907
-
1,410,907
1,501,993
-
1,501,993
-
-
-
-
-
-
1,410,907
-
1,410,907
1,501,993
-
1,501,993
1,410,907
-
1,410,907
1,501,993
-
1,501,993

For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the trustees and signed on their behalf by:

Carl Hughes (Chair)

Date: 15th August 2024

11

The Lambeth Conference Statement of Cash Flows

For the Year Ended 31 December 2023

Reconciliation of net (expenditure)/income to net
cash flow from Operating Activities
Net Movement in Funds
Depreciation
Decrease in creditors
Decrease/(increase) in Debtors
Net cash (used in)/provided by Operating Activities
Cash flows from Investing Activities
(Purchase) of fixed assets
Cash (used in) Investing Activities
(Decrease)/Increase in cash and cash equivalents
Cash and cash equivalents at the beginning
of the year
Total cash and cash equivalents at the end
of the year		 Unrestricted
Funds
Restricted
Funds
Total
2023
Total
2022
£
£
£
£
(91,086)
-
(91,086)
(2,857,342)
651
-
651
2,178
(192,955)
-
(192,955)
(2,321,688)
16,726
106,630
123,356
1,390,444
(266,665)
106,630
(160,035)
(3,786,408)
-
-
-
-
-
-
-
-
(266,665)
106,630
(160,035)
(3,786,408)
1,680,848
(106,630)
1,574,218
5,360,626
1,414,183
-
1,414,183
1,574,218

12

The Lambeth Conference Notes to the Financial Statements For the Year Ended 31 December 2023

Note 1 - Accounting policies

a) Basis of accounting

The financial statements are prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland – (FRS 102) (effective 1 January 2019) (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. The charity is a public benefit entity as defined by FRS 102 (PBE 3.3a).

c) Income

Grants, donations, and investment income are accounted for on a cash received basis except that an accrual is made where grants are received after the end of the period for which the grant was intended.

Conference attendance fees are not recognised as income until the year in which the conference occurs. Any amounts received in advance of the next conference are shown as deferred income within liabilities in the balance sheet and note 6.

d) Expenditure

All expenditure is accounted for on an accruals basis when there is a legal or constructive obligation to do so.

Direct costs are those costs, including directly attributable salaries, which relate to delivering the objects of the charity, namely planning, and delivering the Lambeth Conference.

Support costs are those costs incurred in support of expenditure on the objects of the charity. Support costs include finance and administration staff costs, professional fees, office expenses, depreciation, and governance costs including the cost of trustee’s meetings.

Governance costs include the costs of trustees ’ meetings, audit, and professional fees.

In preparation for the conference the charity made payments for goods and services relating to the delivery of the conference itself. In accordance with the matching principle and the accruals concept, these payments are recognised as assets since the benefits of the payments will accrue to the charity in the year in which the conference is held.

Staff costs, the costs of preparatory meetings and all support costs are expensed in the period to which they relate.

13

Note 1 - Accounting policies (continued)

e) Fund accounting

The Lambeth Conference maintains various types of funds as follows:

Restricted funds - these represent grants and donations which are allocated by the funders/donors for specific purposes.

Unrestricted funds - these represent funds which are expendable at the discretion of the trustees in the furtherance of the objects of the charity.

f) Depreciation

Tangible fixed assets are depreciated on a straight-line basis over their estimated useful life. For Information Technology Equipment the period is 4 years.

g) Pension Costs

Contributions to the Lambeth Conference Company's pension scheme, which is a Defined Contributions Scheme, are charged to the Statement of Financial Activities in the period to which they relate.

h) Going Concern

In the trustees’ report there is a review of financial performance and of the charity’s reserves position. There are adequate financial resources, and the charity is well placed to manage business risks. It is a reasonable expectation that there are adequate resources to continue in operational existence for the foreseeable future. There are no known material uncertainties that call into doubt the c harity’s ability to continue. The financial statements have therefore been prepared on the basis that the charity is a going concern.

14

The Lambeth Conference Notes to the Financial Statements For the Year Ended 31 December 2023

Note 2 - Expenditure
Unrestricted funds (General)
Charitable Activities
Lambeth Conference, a conference held every 10 years
or so attended by Archbishops and Bishops of the
Anglican Communion and their spouses:
Staff Costs
Translation Costs
Event Management Costs
Meetings, Travel & Subsistence
Communications & Publications
Insurance Costs
Governance Costs
Office Expenses
Phase 3 support grant to ACC
Total Unrestricted Expenditure
The ACC is a related party (Note 8).
Restricted funds
Charitable Activities
Lambeth Conference, a conference held every 10 years
or so attended by Archbishops and Bishops of the
Anglican Communion and their spouses:
Staff Costs
Translation Costs
Event Management Costs
Meetings, Travel & Subsistence
Communications & Publications
Insurance Costs
Office Expenses
Total Restricted Expenditure
Total Expenditure		 Direct
Support
Total
Total
Costs
Costs
2023
2022
£
£
£
£
129,432
-
129,432
583,596
20,871
-
20,871
247,525
278
-
278
1,781,284
2,636
4,046
6,682
1,388,878
38,054
43
38,097
511,575
-
6,701
6,701
25,371
-
4,649
4,649
6,883
-
1,690
1,690
143,550
628,740
-
628,740
-
820,011
17,129
837,140
4,688,662
Direct
Support
Total
Total
Costs
Costs
2023
2022
£
£
£
£
-
-
-
25,169
-
-
-
14,186
-
-
-
473,287
-
-
-
1,940,468
-
-
-
19,155
-
-
-
4,605
-
-
-
1,206
-
-
-
2,478,076
820,011
17,129
837,140
7,166,738

15

The Lambeth Conference Notes to the Financial Statements For the Year Ended 31 December 2023

Note 3
Net Movement in Funds is after charging:
Professional Fees
Audit Fees - current year
Independent Examiner’sFees - current year
Audit Fees - previous year
Accountancy & Advisory Fees
Depreciation
Note 4 - Tangible Fixed Assets
Cost
At 1 January 2023
Additions
Disposals
At 31 December 2023
Accumulated Depreciation
At 1 January 2023
Charge for period
Disposals
At 31 December 2023
Net Book Value
At 31 December 2023
At 31 December 2022
Note 5– Debtors
Prepayments
Accrued Income
Other Debtors		 2023
2022
£
£
-
6,780
6,780
-
(2,296)
103
260
2,118
651
2,178
Information
Technology
Equipment
Total
£
£
12,203
12,203
-
-
(12,203)
(12,203)
-
-
11,552
11,552
651
651
(12,203)
(12,203)
-
-
-
-
651
651
Total
Total
2023
2022
£
£
826
6,325
-
106,630
-
11,227
826
124,182

16

The Lambeth Conference Notes to the Financial Statements For the Year Ended 31 December 2023

Note 6– Creditors due within 1 year Total Total
2023 2022
£ £
Taxation & Social Security - 8,142
Accrued Expenses
 3,780 57,863
The Anglican Consultative Council - 30,671
Other Creditors 322 100,382
4,102 197,058
Note 7– Trustees & Employee Information Year Year
2023 2022
Average monthly headcount 1 5
Average number of full-time equivalent staff 1 5
£ £
Salaries 48,050 288,640
Social Security Costs 7,691 27,125
Pension Contributions 3,858 26,645
Other staff costs 22,517 194,492
Redundancy costs 47,316 -
Donated staff time–benefit in kind - 71,863
129,432 608,765
Number of employees whose emoluments were in excess of £60,000 were:
£80,000 to £89,999 0 1
Employer’s pension contributions in respect of £ £
the above employee - 8,316
£ £
Expenses reimbursed to 0 (2022: 0) trustees as meeting expenses: - -
Estimated value of waived trustee expenses: - -

No remuneration was paid to trustees during the year (2022: Nil).

The key management personnel of the Lambeth Conference comprise the trustees, and the Chief Executive Officer. The total employee benefits of the key management personnel of the Lambeth Conference were £45,533 (2022: £106,447).

17

The Lambeth Conference Notes to the Financial Statements For the Year Ended 31 December 2023

Note 8 – Related parties

The Lambeth Conference receives income from the Anglican Consultative Council (ACC). One Trustee of the charity holds the role of Secretary General at the ACC, Archbishop Josiah Idowu-Fearon until 31[st] August 2022, The Right Reverend Anthony Poggo from 1[st] September 2022. Other key management personnel of the ACC have assisted the charity throughout the period. Therefore, the trustees consider the ACC to be a related party.

The Anglican Consultative Council is a charitable company, limited by guarantee. Its charitable objects include supporting the Lambeth Conference. As well as direct grants and donated staff time, the ACC provides the Lambeth Conference with free office space and facilities, free meeting rooms and paid accommodation and subsistence. The ACC sometimes settles invoices on behalf of the Lambeth Conference, offsetting these against grants made or periodically requesting payment. Inter-company balances arise from these transactions.

There were no grants received from either ACC nor its subsidiary the Anglican Alliance during the year (2022: £46,162). There was no donated staff time in the year (2022: £46,162). There were no recharged staff costs in the year (2022: 14,563). The value of donated office and meeting room space was not material (2022: Nil). Balances with the ACC are shown within Note 6.

Grant paid to the ACC to support Phase 3 was £628,740 (2022: Nil). The expenditure is shown within Note 2.

Note 9 – Capital Commitments

The Lambeth Conference has no capital commitments at the year end.

Note 10 – Total Funds Movement

Note 10– Total Funds Movement
Unrestricted–general
Total funds		 Opening
Balances
Income Expenditure Transfers
Closing
Balances
£
£
£
£
£

1,501,993
746,054
837,140
-
1,410,907
1,501,993
746,054
837,140
-
1,410,907

The trustees have designated an index-linked amount of £200,000 to be retained as seed capital for the next Lambeth Conference. This designated amount will be increased in line with CPI from August 2022. Accordingly, at 31 December 2023, the indexed amount so designated was £216,000.

18