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← Strand Parishes Trust

2024-12-31-accounts

STRAND PARISHES TRUST FINANCIAL STATEMENTS 31 DECEMBER 2024

Charity Number 1121754

STRAND PARISHES TRUST

FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2024

CONTENTS PAGE
Members of the Board and professional advisers 1
Trustees' Annual Report 2
Independent auditors' report to the trustees 10
Statement of financial activities 13
Balance sheet 14
Notes to the financial statements 15

STRAND PARISHES TRUST

MEMBERS OF THE BOARD AND PROFESSIONAL ADVISERS

Registered charity name Strand Parishes Trust Charity number 1121754 Principal office 169 Strand London WC2R 2LS Trustees Rev’d Dr P.G. Babington Mrs Janet Crabtree Mrs M. Foster Professor Frank Keating Mrs J.M. Ker-Reid Ms A. Kyei-Mensah Mr P. Maplestone (Deputy Chairman) Mrs C. Munday Mrs M.D. Roberts (Chairman) Mr C.R. Spanton Ms J. Thomas

Clerk to the Trustees Roy Sully, ACIS Investment managers CCLA Investment Management Limited, 1 Angel Lane, London, EC4V 4ET

Investment managers CCLA Investment Management Limited, 1 Angel Lane, London, EC4V 4ET Auditor Shoaib Arshad, ACA, FCCA Knox Cropper LLP 65 Leadenhall Street London EC3A 2AD

Bankers

C. Hoare & Co. 37 Fleet Street London EC4P 4DQ

STRAND PARISHES TRUST

TRUSTEES' ANNUAL REPORT

YEAR ENDED 31 DECEMBER 2024

The trustees present their report and the unaudited financial statements of the charity for the year ended 31 December 2024.

REFERENCE AND ADMINISTRATIVE DETAILS

Reference and administrative details are shown in the schedule of members of the board and professional advisers on page 1 of the financial statements.

a. TRUSTEES AND CLERK

Management of the Charity is vested in its Trustees. Members of the full Board of Trustees who held office during the year are as follows:

Ex-officio:

Rev’d Dr P.G. Babington

Mrs Janet Crabtree

Priest in Charge, St Mary le Strand with St Clement Danes Churchwarden, St Mary le Strand with St Clement Danes

Nominated by Westminster City Council:

Mrs Mary Foster

Co-optative:

Professor Frank Keating Ms Akua Kyei-Mensah Mrs Jane Ker-Reid Mr Peter Maplestone (Deputy Chairman) Mrs Christina Munday Mrs Margery Roberts (Chairman) Mr Charles Spanton Ms Julie Thomas

CLERK TO THE TRUSTEES

Mr Roy Sully

STRAND PARISHES TRUST

TRUSTEES' ANNUAL REPORT (continued)

YEAR ENDED 31 DECEMBER 2024

b. OBJECTS AND ACTIVITIES

Objects

The objects of the Charity are as set out in the governing document:

The Charity’s principal aims are:

Key factors in achieving these aims are:

c. STATEMENT OF PUBLIC BENEFIT

The Trustees confirm that they have complied with their duty in Section 4 of the Charities Act 2011 and have due regard to the Charity Commission’s general guidance on public benefit “Charities and Public Benefit”.

HOW THE CHARITY’S ACTIVITIES HAVE PROVIDED PUBLIC BENEFIT

The City of Westminster, although it includes comparatively wealthy areas, contains individuals and sections of society who are disadvantaged through poverty, ill-health, unemployment, lack of opportunity or lack of education. In order to address some or all of these concerns, the Trustees pursue their objects in a number of ways, including making small grants to individuals, paying regular amounts in the nature of a pension to a number of needy elderly persons, and by awarding grants to other charities which deliver care, support and advice to needy members of the local community. It also makes an annual payment to the parish of St Mary le Strand with St Clement Danes in accordance with its governing document.

STRAND PARISHES TRUST

TRUSTEES' ANNUAL REPORT (continued)

YEAR ENDED 31 DECEMBER 2024

In 2024, the Charity made 46 (2023: 42) small grants to individuals and 31 (2023: 38) larger grants to other charities. Of the latter 14 were for relief in need and 14 for advancement in life; one grant was made to the St Mary le Strand PCC. In addition up to 20 elderly people were supported with discretionary small payments. Full details of these grants are as follows:

i) Grants to Individuals

During 2024 grants totalling £ 13,630 were made to 46 individuals.

ii) Grants to Organisations

Grants totalling £ 193,126 were made.

Grants made to organisations during the year were as follows:

Abbey Community Centre £5,000 Senior Care Project Age UK Westminster £ 6,000 A Befriending Service Cardinal Hume Centre £ 6,500 Operational Expenses For a Food Redistribution Fareshare £ 5,000 Programme The Marylebone Project £ 5,000 Glassdoor £ 5,000 Winter Nightshelters Groundswell £ 7,000 Advice service for the homeless Interact Stroke £ 2,500 Therapy for Stroke Survivors Paddington Law Centre £ 7,000 Legal advice services Royal Trinity Hospice £ 10,000 Hospice at Home Samaritans £ 5,000 Advice and Support services St John Hospice £ 10,000 Ambulance Westbourne Park Famil Centre £ 10,000 Community services Woman’s Trust £7,000 Advice services Zacchaeus 2000 £ 6,000 Advice services TOTAL RELIEF-IN-NEED £ 97,000

STRAND PARISHES TRUST

TRUSTEES' ANNUAL REPORT (continued)

YEAR ENDED 31 DECEMBER 2024

Access Project £ 10,000 Mentoring in Westninster
schools
Adventure Play Hub at St John's Wood £ 6,000 Adventure playground
Avenues Youth Project £ 7,500 Youth club in North Westminster
Book Trust £ 5,000 Reading workshops
Brent Centre for Young People £ 7,500 Therapeutic advice
Catholic Children’s Society £ 4,000 Early intervention therapy
services
Centre for Young Musicians £ 5,769 Bursaries for Westminster
children
Create Arts £ 5,000 Drama therapy
Dream Arts £ 6,000 To provide performing arts
programmes
Essendine School £ 8,000 Creation of meeting rooms
Nucleo £ 5,000 Musical education
Pimlico Music Foundation £ 6,000 Musical education
St Andrews Club £ 5,000 Youth club in South
Westminster
St Marylebone School £ 3,000 Bursaries for the Duke of
Edinburgh Award Scheme
TOTAL ADVANCEMENT IN LIFE £83,769
St Mary Le Strand Church £ 17,357
TOTAL ORGANISATIONAL GRANTS £198,126

STRAND PARISHES TRUST

TRUSTEES' ANNUAL REPORT (continued)

YEAR ENDED 31 DECEMBER 2024

iii) Pensions

The charities that were amalgamated in 2007 to form the Strand Parishes Trust made small regular discretionary pension payments to qualifying individuals. Following the amalgamation these commitments were carried on by Strand Parishes Trust, although no new recipients were added to the list of beneficiaries until 2023. In 2023 the Strand Parishes Trust received a donation of £112,082 from the Trustees of a neighbouring charity, The United Charities of St Paul’s (Covent Garden) as part of the winding up of that charity. The Trustees of the Strand Parishes Trust agreed to add five beneficiaries, who had previously received a pension from the United Charities, to the list of beneficiaries.

As at December 31st 2024 the number of individuals on the beneficiary register totalled 19 (31[st] December 2023: 22). During 2024 the sums paid out to recipients totalled £12, 850 (31[st] December 2023: £14,950).

STRAND PARISHES TRUST

TRUSTEES' ANNUAL REPORT (continued)

YEAR ENDED 31 DECEMBER 2024

d. STRUCTURE, GOVERNANCE AND MANAGEMENT

The Board of Trustees meets three times a year and is responsible for managing the affairs of the Charity. It receives reports from the Finance and General Purposes Committee , which also usually meets three times a year in the months preceding the Board of Trustees meeting to oversee the property and finances of the Charity and to consider personnel and policy matters. The Board of Trustees also receive reports from the Grants Advisory Committee , which normally meets at least once a year to advise on grant making matters.

Three Trustees are ex-officio by virtue of their roles associated with St Mary le Strand with St Clement Danes. One Trustee is nominated by The London Borough of the City of Westminster. The remaining nine Trustees are co-opted in accordance with the charity’s scheme.

Members of the full Board of Trustees

Trustees are listed under the heading of ‘Reference and Administrative Details’ earlier in this Report.

Members of the Finance and General Purposes Committee during the year were:

Mrs Mary Foster Mrs Christina Munday
Mr Peter Maplestone Mrs Margery Roberts
Mrs Janet Crabtree Mr Charles Spanton

Members of the Grants Advisory Committee during the year were:

Mrs Mary Foster Mrs Margery Roberts
Mrs Jane Ker-Reid Mr Charles Spanton
Mrs Christina Munday Ms Julie Thomas

e. Statement of Trustees Responsibilities

Charity law requires the Trustees to prepare financial statements for each financial period, which give a true and fair view of the state of affairs of the Charity and of the incoming resources and application of resources, including the income and expenditure of the charity for that period. In preparing those financial statements, the Trustees are required to:

STRAND PARISHES TRUST

TRUSTEES' ANNUAL REPORT (continued)

YEAR ENDED 31 DECEMBER 2024

The Trustees are responsible for keeping adequate accounting records which disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

f. Management

Day to day management is delegated to the Clerk to the Trustees, who works with the Chairman and Trustees to ensure the smooth and effective running of the Charity.

g. Trustee Recruitment and Induction

Trustees are recruited through a variety of methods. As stated elsewhere three Trustees are ex-officio by virtue of their office at St Mary le Strand with St Clement Danes and one Trustee is nominated by the London Borough of the City of Westminster. The remaining Trustees, who are co-opted, are identified through personal contact and recommendation and are chosen for their expertise and knowledge of the area of benefit. The Trustees endeavour to ensure that there is a balance of skills, gender, age and cultural backgrounds represented.

The Trustee nominated by the London Borough of the City of Westminster and co-opted Trustees serve for a period of four years. Trustees may stand again at the end of that term.

New Trustees receive an induction pack and are inducted by the Clerk to the Trustees and more experienced Trustees. Trustees are encouraged to participate in external training programmes as appropriate. Trustees agree to follow the Charity Commission Good Governance Code.

h. FINANCIAL REVIEW OF ACTIVITIES

The financial statements reflect the activities of the Charity for the year ended 31 December 2024.

Financial Position

Strand Parishes Trust is a permanently endowed charity, resulting from the generosity of various benefactors of former years. The Permanent Endowment Fund totalled £ 6,174,379 at 31 December 2024 (2023: £ 6,036,219).

Upon amalgamation in 2007, the Charity was also in receipt of accumulated income which the contributing charities had preserved, with due consideration to future needs, to ensure the ability to maintain constant levels of grant-making during more difficult times. On amalgamation, the Charity Commission agreed that this prudent management could be maintained and that these income-generating funds be designated for that purpose. The total Designated Fund totalled £ 3,644,507 at 31 December, 2024 (2023: £ 3,558,967). When considering the finances of the Charity the Trustees have continued to act prudently and in the current best interests of the Charity and its future beneficiaries.

In the year ending 31 December 2024 the Charity received income of £ 269,215 (2023: £ 374,602) from its investments, from interest and from additional miscellaneous income. The

STRAND PARISHES TRUST TRUSTEES. ANNUAL REPORT (continued) YEAR ENDED 31 DECEMBER 2024 prOnoun￿d decrease in income on the previous year is largely due to a one-off donation of £ 112,082 from the United Charities of St Paul's Covent Garden made in 2023. Expenditure on charitable activities and on ne￿SSary administration totalled £ 261,785 (2023.. £ 297,010). This resulted in a slight surplus although it is the Trustees, intention to use up unspent income from previous years. Investment Policy and Performance The Charity's investments are managed by CCLA Investment Management Limited, split between the CBF Charities Investment Fund and the CBF Deposit Fund. The manager works wthin an investment objective to protect the value of capital and income in real terms over the medium to long term. In view of the continuing difficult times in the financial markets generally, the Trustees consider the return in the year to be satisfactory. There were no sales or purchases of investments in 2024 hence no gains or losses were realised (2023: realised gainsl losses were nil). There were net unrealised gains on investments of £ 216,270 (2023: gain of £ 819,014). Reserves Policy After expenditure on necessary administration the Trustees aim to expend the income for the current year on grants and pensions in accordance with the Charity's scheme. As the expenditure for the current year is budgeted in accordance wilh income received over the year, minimurn of free reserves are required to maintain the running of the Charity. To that end Trustees aim to maintain reserves of up to four months, expenditure on the management of the Charity. Free reseries for this purpose totalled £ 153,776 at the year-end (2023: £ 146,346). Risk Management Risk is assessed and managed by the Finance and General Purposes Committee who report to and advise the Board of Trustees in order to provide assurance to the Trustees that resources are efficiently allocated and utilised. The Finance and General Purposes Committee has adopted the Charity Commission standard for risk assessment and undertakes a full review annually and reviews high risks at every meeting. The Trustees have assessed the major risks to which the charity is exposed particularly those related to the operations and finances of the charity and are satisfied that systems are in place to mitigate exposure to major risks. Signed on behalf of the trustees 169 Strand London WC2R 2LS Roy Sully Clerk to the Trustees Date 11 vii 2

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF THE STRAND PARISHES TRUST FOR THE YEAR ENDED 31 DECEMBER 2024

Opinion

We have audited the financial statements of the Strand Parishes Trust (the ’charity’) for the year ended 31 December 2024 which comprise the Statement of Financial Activities, the Balance Sheet and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

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 charity 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 charity’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 other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information.

Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF THE STRAND PARISHES TRUST FOR THE YEAR ENDED 31 DECEMBER 2024

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Trustees' Responsibilities Statement set out on page 4, the Trustees 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 charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

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:

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF THE STRAND PARISHES TRUST FOR THE YEAR ENDED 31 DECEMBER 2024

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 charity’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken, so that we might state to the charity’s trustees those matters we are required to state to them in an 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 charity and the charity’s trustees as a body, for our audit work, for this report or for the opinions we have formed.

Knox Cropper LLP, Statutory Auditor 65 Leadenhall Street London EC3A 2AD

........................ 23 Sept 2025

STRAND PARISHES TRUST

STATEMENT OF FINANCIAL ACTIVITIES

(INCLUDING INCOME AND EXPENDITURE ACCOUNT)

YEAR ENDED 31 DECEMBER 2024

Note
INCOME
Donations
2
Investment Income
3
Bank Interest
TOTAL INCOME
EXPENDITURE
Expenditure on Charitable Activities
4
TOTAL EXPENDITURE
NET INCOME
OTHER RECOGNISED GAINS AND
LOSSES
Gains/(Losses) on Revaluations
of Investment Assets
9
NET MOVEMENT IN FUNDS
RECONCILIATION OF FUNDS
Total Funds Brought Forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
Funds
£
-
268,620
595
269,215
261,785
261,785
7,430
78,110
85,540
3,558,968
3,644,508		 Endowment
Funds
£
-
-
-
-
-
-
138,160
138,160
6,036,219
6,174,379		 Total Funds
2024
£
-
268,620
595
269,215
261,785
261,785
7,430
216,270
223,700
9,595,187
9,818,887		 Total
Funds
2023
£
112,082
261,847
674
374,603
297,010
297,010
77,593
819,014
896,607
8,698,580
9,595,187

All of the above amounts relate to continuing activities.

STRAND PARISHES TRUST BALANCE SHEET 31 DECEMBER 2024 Note 2024 2023 FIXED ASSETS Tangible Assets Investments 9 665 111 9,665,111 9 448 841 9,448,841 CURRENT ASSETS Cash at Bank Cash on Deposit Debtors 45,574 119,848 1,423 22,335 139,847 CREDrroRS: Amounts fallin9 due within one year 10 NET CURRENT ASSETS 153 776 146 346 TOTAL ASSETS LESS CURRENT LIABILITIES 9 818 887 9 595 187 FUNDS Endowment Funds Unrestricted Income Funds 11 12 6,174,379 3,644,508 6,036,219 3,558,968 TOTAL FUNDS 9 818 887 £9 595 187 These finanGial statements were approved by the Trustees and authorised for issue and are signed on their behalf by.. L7 Mrs M.D. Roberts Date 14

STRAND PARISHES TRUST

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2024

1. ACCOUNTING POLICIES

Basis of accounting

The financial statements have been prepared in accordance with applicable United Kingdom accounting standards and the requirements of the Statement of Recommended Practice 'Accounting and Reporting by Charities' (SORP 2019), preparing these accounts in accordance with the Financial Reporting Standard applicable in the UK (FRS 102 section 1A) and the Charities Act 2011.

The charity is a public benefit entity as defined by FRS 102.

The Trustees consider that there are no material uncertainties about the Trust’s ability to continue as a going concern.

Fund accounting

Incoming resources

All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:

STRAND PARISHES TRUST

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2024

1. ACCOUNTING POLICIES (continued)

Resources expended

Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates:

Investment assets and income

Investments are stated at market value at the balance sheet date. The statement of financial activities includes the net gains and losses arising on revaluations and disposals throughout the year.

Fixed assets

Fixed assets (excluding investments) are stated at cost less accumulated depreciation. The costs of minor additions or those costing below £500 are not capitalised.

Depreciation

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Fixtures and Fittings 30% straight line.

STRAND PARISHES TRUST

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2024

2. DONATIONS

Donation from the United Charities
Of St Paul’s (Covent Garden)		 Unrestricted
Funds

£
-		 Total Funds
2024
Total Funds
2023
£
£
-
112,082

3. INVESTMENT INCOME

Unrestricted
Funds
Total Funds
2024
£
£
Dividends and Interest Received
268,620
268,620
COSTS OF CHARITABLE ACTIVITIES BY ACTIVITY TYPE
Total Funds
2024
£
Grants to Individuals - Pensions
12,850
Grants to Individuals - Other
13,630
Grants to Institutions
198,126
Support Costs (Note 5)
37,179
261,785
SUPPORT COSTS
Unrestricted
Funds
Total Funds
2024
£
£
Salaries and Employment Costs
22,619
22,619
Premises Costs
5,082
5,082
Audit Fee
5,700
5,700
Legal Fees
-
-
Travel and Subsistence
31
31
Printing, postage and stationery
1,748
1,748
Telephone and ICT
583
583
Other Costs
947
947
Training
-
-
Bank Charges
469
469
Depreciation
-
-
37,179
37,179

4. COSTS OF CHARITABLE ACTIVITIES BY ACTIVITY TYPE

5. SUPPORT COSTS

STRAND PARISHES TRUST

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2024

6. STAFF COSTS AND EMOLUMENTS

Total staff costs were as follows:

Wages and salaries
Social security costs
Payroll Administration		 2024
£
20,763
1,626
230
22,619		 2023
£
19,348
1,774
230
21,352

Particulars of employees:

The Clerk to the Trust, who works on a part time basis, is the only employee.

No employee received remuneration of more than £60,000 during the year (2023 - Nil).

7. TRUSTEE REMUNERATION & RELATED PARTY TRANSACTIONS

No members of the Board of Trustees received any remuneration during the year or the previous year (2023: Nil).

Modest travelling expenses of £31 were paid to one Trustee (previous year £Nil).

No trustee or other person related to the charity had any personal interest in any contract or transaction entered into by the charity during the year or the previous year.

8. TANGIBLE FIXED ASSETS

COST
At 1 January 2024
Additions
At 31 December 2024
DEPRECIATION
At 1 January 2024
Previously Charged
Charge for the year
At 31 December 2024
NET BOOK VALUE
At 31 December 2024
At 31 December 2023		 Fixtures &
Fittings
£
571
-
571
571
-
-
571
-
-

STRAND PARISHES TRUST

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2024

9. INVESTMENTS

Movement in market value

Market value at 1 January
Acquisitions at cost
Disposals at opening book value
Unrealised gains on revaluations in the year ended
31 December
Market value at 31 December
Gains/(losses) on investments
Unrealised (losses)/gains on revaluations
in the year ended 31 December
Realised losses on the sale of Investments
Total realised and unrealised gains		 2024
2023
£
£
9,448,841
8,629,827
-
-
-
-
216,270
819,014
9,665,111
9,448,841
2024
2023
£
£
216,270
819,014
-
-
216,270
819,014

Listed investments comprise portfolios managed by CCLA Investment Management Limited.

10. CREDITORS: Amounts falling due within one year

Audit Fee
Grants Agreed but not yet Paid		 2024
£
5,700
7,369
13,069		 2023
£
5,412
10,424
15,836

STRAND PARISHES TRUST

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2024

11. ENDOWMENT FUNDS

Permanent endowments
Permanent Endowment Fund		 Balance at
1 January 2024
Gains and
losses
Balance at
31 December
2024
£
£
£
£6,036,219
138,160
£6,174,379

The endowment funds are held to provide the income for the charity's charitable activities and governance.

Comparative Endowment Funds:

Permanent endowments
Permanent Endowment Fund		 Balance at
1 January 2023
Gains and
losses
Balance at
31 December
2023
£
£
£
£5,513,007
523,212
£6,036,219

12. UNRESTRICTED INCOME FUNDS

Designated
Fund
General Funds		 Balance at
1 January
2024
Incoming
resources
Outgoing
resources
Gains and
losses
Balance at
31 December
2024
£
£
£
£
£
3,412,622
94,731
(94,731)
78,110
3,490,732
146,345
174,484
(167,054)
-
153,775
3,558,967
269,215
(261,785)
78,110
3,644,507

Designated Reserves comprise unspent income brought forward from closed charities and 'ring-fenced' to provide future income. These are available for expenditure at the Trustees' discretion.

Comparative Unrestricted Income Funds:

Designated
Fund
General Funds		 Balance at
1 January
2023
Incoming
resources
Outgoing
resources
Gains and
losses
Balance at
31 December
2023
£
£
£
£
£
3,116,820
93,281
(93,281)
295,802
3,412,622
68,753
281,322
(203,729)
-
146,346
3,185,573
374,603
(297,010)
295,802
3,558,968

STRAND PARISHES TRUST

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2024

13. ANALYSIS OF NET ASSETS BETWEEN FUNDS: 2024

Endowment Funds:
Permanent Endowment Fund
Unrestricted Income Funds:
Designated Funds
General Funds
Total Funds		 Tangible fixed
assets
Investments
Net current
assets
Total
£
£
£
£
-
6,174,379
-
6,174,379
-
3,490,732
-
3,490,732
-
-
153,776
153,776
-
9,665,111
153,776
9,818,887

Comparative Analysis of Net Assets between Funds: 2023

Endowment Funds:
Permanent Endowment Fund
Unrestricted Income Funds:
Designated Funds
General Funds
Total Funds		 Tangible fixed
assets
Investments
Net current
assets
Total
£
£
£
£
–
6,036,219
6,036,219
–
3,412,622
-
3,412,622
-
-
146,345
146,345
-
£9,448,841
£146,345
£9,595,186

14. TAXATION

The charity is exempt from tax on income and gains to the extent that these are applied to its charitable objects. No tax charges have arisen in the Charity.

15. RELATED PARTIES

There were no related party transactions during the year.

STRAND PARISHES TRUST

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2024

16. COMPARATIVE STATEMENT OF FINANCIAL ACTIVITY

INCOME
Donations
Investment Income
Bank Interest
TOTAL INCOME
EXPENDITURE
Expenditure on Charitable Activities
Investment Management
TOTAL EXPENDITURE
NET EXPENDITURE
OTHER RECOGNISED GAINS AND
LOSSES
Gains/(Losses) on Revaluations
of Investment Assets
NET MOVEMENT IN FUNDS
RECONCILIATION OF FUNDS
Total Funds Brought Forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
Funds
£
112,082
261,847
674
374,603
297,010
-
297,010
77,593
295,802
373,395
3,185,573
£3,558,968		 Endowment
Funds
£
-
-
-
-
-
-
-
523,212
523,212
5,513,007
£6,036,219		 Total Funds
2023
£
112,082
261,847
674
374,603
297,010
-
297,010
977,593
819,014
896,607
8,698,580
£9,595,187