THE ARCHBISHOP OF CANTERBURY'S
CHARJTABLE FOUNDATION
AUDITED FINAINCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2024
Regbstered Charity INumber 1139299
Registered Company Number 7453039

THE ARCHBISHOP OF CANTERBURY'S CHARITABLE FOUNDATION
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
INDEX
Page
Trustees, Report
Auditors, Report
9-11
12
Statement of Financial Aclivilies
Balance Sheet
13
Notes to the Financial Statements
14-22

THE ARCHBISHOP OF CANTERBURY'S CHI¥RITABLE FOUNDATION
REPORT OF THE TRUSTEES (INCLUDING DIRECTORS, REPORT)
FOR THE YEAR ENDED 31 DECEMBER 2024
On l January 2012, The Archbishop of Canterbury's Charitable Foundation was fornied as a resuli of the transfer of the
net assets and operations of The Archbishop of Canterbury's Charitsble Tru8t; The Davidson Bequest Trust" The Holiday
Camps & Caravan Sites Mission and The Delmar Trust. In 2019 il was gifted the net ass¢ts of the Archbishop of
Canterbury's Discretionary Fund.
The Foundalion is controlled by its Memorandum and Articles of Association. It was incorporated on 26 November 2012
{Company Number 7453039) and constitutes a limited company, limited by guarantee, as defined by the Companies Act
2006, and it is also a registered charity (Charity Number 1139299).
The Trustees are pleased to present their annual report together with the financial statements for the year ended 31
December 2024, which are al80 prepared to meet the requirements for a directors, report and accounts for Companies
House purposes. The financial 8tstements have been prepared under the accounting policies out in noles to the accounts
and comply with the Charily's governing document, the Charities Act 2011 and Statement of Recommended Practice
(SORP)
"Accounting and Reporting by Charities" (FR5 102) (Second Edition, effective l January 2019). The latter also complies
with the Charity's governing document.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company Number
7453039
Registered Charity Number
1139299
Prineipal and
Registered Office
l Th¢ Sanctuary
Weslminster
London SWIP 3JT
Trustees
Th¢ Most Rev. the Lord Archbishop of Canterbury Justin Welby (resigned 7 January
2025}
Julian John Adams (appointed 31 January 2025)
Andrew James Clifford (appointed 31 January 2025)
Rt. Worshipful Mordg Ellis KC
The Revd. ljeoma Ajibade
The Revd. Jesutosin Oladipo
Tomilayo Toluhi
Seerelary
H.J. Dellar
Bankers
National Westn]inster Bank pl¢
Argyll House. 246-250 Regent Street
London WIB 3BN
Solicitors
Lee Bolton Monier-williams
l The Sanctuary
Westminster
London SWIP 3
Auditors
Rothmans Audit LLP
Chilworth Point
I Chilworth Road
Southampton SOI 6 7JQ
Investmenl Advisors
CCLA Investment Management Ltd
Senator House
85 Queen Victoria Street
London EC4V 4ET

THE ARCHBISHOP OF CANTERBURY'S CHARITABLE FOUNDATION
REPORT OF THE TRUSTEES (IINCLUDING DIRECTORS, REPORT (continued)
FOR THE YEAR ENDED 31 DECEMBER 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT
The first Trustees after incorporalion were th¢ pre-existing Trust¢es of The Archbishop of Canterbury s Charitable T￿St.
The Davidson Bequest TNst' Th¢ Holiday Camps & Caravan Sites Mission and Th¢ Delmar Twst.
New Trustees are appointed based upon their skills and compelence and the requirements of the Charity. New Trustees
are appointed by existing Trustees after any appropriate consultalion with the Archbishop. When a new member joins the
Board of Trustees they are provided with inforniation regarding finances, governance and charitable objectives. Tru%tee8
are encouraged to attend appropriate external training events, which facilitate the understanding of their role.
The Trustees meet as required. In the year of review four of them were based at Lambeth Palace. The Ttustees agree the
Strdtegy of the Foundation, including consideralion of grants, investmenls, reserves and risk management policies and
perfonnance.
The Trustees are not remunerated for their service.
The day to day running of the Foundation is in the hand8 of the Deputy Chief of Staff ai Lambeth Palace.
RISK REVIEW
The Trustees are responsible for the management of the ri.sks fac¢d by the Charity and conduct an annual risk assessment.
This involves the identification of risks and agreeing any necessary actions to manage or mitigate them. The Trustees have
carefully considered the key risks to the Foundation and their impact on filture plans.
Key risks to the Foundation are..
LDSS of financial sustainabilily due to market volatility affecting the inveslment base of the charity and reducing
the ability lo fund the desired level of grant making programme. Thi% 1% particularly significant when
considering the current volatility in financial markets worldwide, iogether with changFing demands for funding
from the Foundation as a result of increasing economic and social hardship Currently affecting much of the
world.
To mitigate against this risk as far as is possible, given that stock market movements are beyond the control of
the Trustees, they utilise specialist charity investment managers who manage the investment Portfolio on a day
to day basis on the Foundation's behalf. The fund managers regularly meel with the Trustees to discuss mark¢t
trends, portfolio diversity and risk profiling, ethical investment considerations and perforniance against industry
benchmarks and have been reporting regularly to the Trnstees on the perforniance of the Foundation's portfolio
during 2024 and have conlinued to do so post year end.
The T￿slee5 have a low appetite for risk, and this is reflected in the investmenl portfolio held which is highly
risk aveTre and focuses on maintaining regFular income streams, together with long term portfolio sustainability.
The investmenl portfolio had decrea.%ed in value by £127,497 from the December 2023 10 2024 financial year
end, reflecting a sale of invesiment&* of £200,000 and realised and unrealised gains of £72,503 in 2024.
The Foundation benefiLs from a low cost-base, given ihat it has no stsff costs and minimal and predictable
overheads. Moreover, its grani making programme is discretionary which means the Trustees are in a strong
position to direct grant making to where it is ne¢ded most in a time of crisiq. The inv¢4tsneni portfolio is highly
liquid allowing the Tru.stees to react quickly to r¢quests by realising investments whenever necessary Having
taken advice from their investmenl advisers the Trustees ar¢ satisfi¢d that Ihey have strong reserves, and they
should therefore continue to focus on long terni sustainability, holding a balanced low risk portfolio that will
mitigate as much as possibl¢ against continuing downturns in financial markets. They will look io maintain
stable investment returns, minimising the risk that financial Constraints would limit anticipated grant making in
the year ahead.

THE ARCHBISHOP OF CANTERBURY'S CHAIUTABLE FOUNDA TION
REPORT OF THE TRUSTEES (INCLUDING DIRECTORS, REPORT (continued)
FOR THE YEAR ENDED 31 DECEMBER 2024
RISK REVIEW (contlnued)
Grant recipients misuse funds received.
To mitigate against this risk the grant applicants are subjecl to careful review before being awarded funding and
are required to report back on the use of their funds. Reports on activity undertaken and outcomes achieved by
grant recipients are considered in updates provided at each Trustee board meeting.
Reputational or other compromise following the resignation of The Archbishop of Cant¢rbury.
The charity is a&8ociated with the office of The Archbishop of Canterbury. and Ihe incumbent has a role on its
Board of Trustee8. On 12 November 2024, Justin Welby resigned from that office, to b¢ effective from 7
January 2025, following th¢ Makin Review, which assessed the Church's handling of the horrendous abuses of
th¢ late John Smyth QC - a serial abuser, who was actively involved in Christian Tninisty for many years. The
concerns expressed in public debate, the sensitivities of th¢ matters involved, and the delays whilst a new
incumbent is selected and appointed have meant that the Charity is operating in an atmosphere oluncertainty.
The risks to ihe charity are in ternis of reputstional compromise by association, its relationship with potential
donors, grantees, and the drain on management capacity in d¢aling with these matters.
Other key operational controls in place include:
forn]al ag¢ndas and regular meetings between the Trustees and administrative staff acting for the Foundation"
fonvard planning and budgeting, with regular management accounts and quarterly reviews of finances, investment
perfonnance and grant programming;
inlernal controls over the movement of fiinds and investments.
The Trustees are satisfied that these arrangements enable the major risks to be identified and appropriate steps tsken for
their mitigation, although it is r¢cognised that systems can only provide r¢asonable, not absolute, aqsuranc¢ in this regard.
0￿ECTIVEs AIYD ACTIVITIES
Th¢ objects of the Charity as per its Articles of Association are:
l) to advance the ChTiStian religion
2) to advance Christian education and in particular to promote education in th¢ faith and practices of the Church of
England
3) lo promote the religious and other charitable work of the Church anywhere in the world including through:
a) Relief of poverty and sickness
b) Training for ihe Ministry
c) Support lo minist¢rs and famili¢s
d) Provision of facilities for public worship
4) to make grants, provide goods, services and factlities for the charitable purposes not inconsislenl with objects ( l }
10 (3) as the Trustees may decid¢ from time to time, provided such charitable purposes are within the meaning of
the Charities Acts.
PUBLIC BENEFIT
The Ttustee4 confirni that that they have complied with the duly in section 17 of the Charities Act 2011 to have due regard
to public benefit in detern]ining the activities undertaken by the Charity. The Charity has and continues to demonstrate a
number of areas of public benefit within its core charitsble objectives of the advancement of the Christian religion, Christian
education and relief of poverty by awarding grants as detailed in note 4 to the financial statements.
GRAIYT MAKING POLICY
The Foundation receives a number of enquiries for grants which are deali with initially by the Deputy Chief of Staff at
Lambeth Palace. If the enquiry meets the grant criterion, the request is pul to the Trustees who will then consid¢r and
approve those grant requests which me¢t the objecliv¢s of the Foundation.

THE ARCHBISHOP OF CANTERBURY'S CHARITABLE FOUNDATION
REPORT OF THE TRUSTEES (INCLUDING DIRECTORS, REPORT (continued)
FOR THE YEAR ENDED 31 DECEMBER 2024
RESERVES POLICY AND ASSET COITER FOR FUNDS
The Charity's reserves and the element of them comprised by fixed asset investmenls at 31 December 2024 are summarised
below. Full delails are set out in note 9.
Other
Reserves
Fixed Asset
Investment5
Total Reserves
Restricted Funds
Unreslricted Funds
190,206
3,024,776
3,214,982
31 December 2024
190,206
3,024,776
3,214,982
31 December 2023
(114,581)
3,152.273
3.037,692
Funds held in fixed assel investments are considered nece%sary in order to produce sufficient income so that the Foundation
can continue its grant making programmc to meet the Charity's obligations. Funds are also maintained at a level sufficient
to manage stock market volatility by takin¥ a total return view of the investment portfolio over the medium lo longer term.
The administrative expenditure of the Foundation is minimal and predictsble given thal athninistrdtive support is provided
by Lambeth Palace and the Foundation employs no %tatTof its 0￿￿.
The Trustees are satisfied that the Foundation has sufficienl reserves to meet ongoing regular granl payments where ihey
remain relevant and io con8id¢r other grant requests as and when they arise, provided they fulfil the Charity's key objectives.
As the investment portfolio is held only in unrestricled funds il is considered more imponant lo have a flexible approach
lo funding worthwhile causes than to maintaining reserves at a specific level at any gFiven time. The fixed aiset investment%
are more than 8uffieient to meet anticipated spending given ihat inveslments can be realised al any lime to augment this
when considered desirable. The current level of reserves is considered adequate and appropriate for the Foundation'8 needs.
INVESTMENT POLICY AND POWERS
The Trustees are authorised to invest in any investmenl (whether authorised by statute for trust monies or not} as if they
were absolutely and beneficially entiiled.
The Foundation holds IOOO/o of its investments in a managed fijnd. the CBF Church of England Fund, managed by CCLA
Inveslment Management Ltd and set up by the Church Funds Investment Measure 1958.
The investments are held with a view io providing a reasonable totsl return for the Foundation in the medium terni, whilst
allowing for an averaging of interim fluctuations and volatility of the markets in the shorter tenn.
The Tru51ees are ￿tiSfIed that by adopting a risk averse approach to investment and by taking a medium to longer tern)
view on the total retum ot. the investment portfolio, its investment base, together with the income gyeneraled from it, will
remain suffi¢icnt to support the future activities of the Foundalion.
CCLA works with th¢ Church's Ethical Investment Advisory Group and fully reflect their ethical policies in the
Foundation's investment holdings.

THE ARCHBISHOP OF CANTERBURY'S CHARITABLE FOUNDATIO
REPORT OF THE TRUSTEES (INCLUDING DIRECTORS, REPORT (continued)
FOR THE YEAR EIYDED 31 DECEMBER 2024
ACHIEVEMENTS AND PERFORMANCE
The Foundation has two funding sources, being income donations and income generated from its investment portfolio.
Whilst not actively seeking donations, it does also receive these from time to time in support of its charitable priorities.
The Trustees are mindful that there is a balance to be had between realising investsnents to fund grant payments and
maintaining a level of investment that will generate sufficient future income to meet regular anticipated grant commitments.
During the year a toLql of 22 (2023: 36} grants totalling £194,486 (net.. £80.451 as described below) (2023.. £763,437, net:
£759,082} were made by the Foundation which mel the Foundation's grant crit¢ria, as delailed in note 4 to the financial
statements. Of these, 3 graDLs (2023=16) lotalling £90,455 (2023: £669,395) were made to advance the Christian Religion.
6 grants (2023: 9) totalling £17,531 (2023: £6,309) to advance Christian Education- 9 grants (2023.. 10) totalling £63,500
(2023: £79,016) to promote the religious and other charitable work of the Church. and 4 grants (2023.3) of £23,000 (2023..
£4,800) for charitable purposes under Object 4.
A grant of £140,000 made in 2023 to the chU￿h Commissioners for Ministry Consultsncy was not needed in full, therefore
£114.035 has been written back in 2024. The net total of grants is therefore £80,451.
In 2023 granls totalling £313,900 were made to the Church Commissioners for the planning and delivery of various aspects
of the Archbishop of Canterbury's evangelism ministry and reconciliation ministry. Notably, this included support for the
Diff¢rence Course which explor¢s Christian faith in a complex and divided world and encourages relationship building.
No grants wer¢ made in 2024.
In 2024, a grant of £50,000 {2023: £148,212) was made to the Centre for Cultural Witness, which launch¢d in September
2022 and worLs with theologians and contemporary thinkers to make th¢ Christian faith better understood in the public
arena.
A number of smaller grants are committed to annually where a recipient is considered deserving of ￿lldIng over several
y¢ars. In addition, the Trustees also commit large one-off grants where they believe that this delivers significant public
b¢nefit in advancing the Christian religion, Christian education or the relief of poverty.
The Trustees are satisfied that they have continued to allocate grants consistent with th¢ir key objectives and which
deliver significant public benefit. Given th¢ level of unrestricted reserves available to the Foundation at th¢ year end, the
Charity is w¢ll placed to Continue delivering its miè*sion in future years.

THE ARCHBISHOP OF CANTERBURY'S CHAIUTABLE FOUNDATIOIY
REPORT OF THE TRUSTEES (INCLUDING DIRECTORS. REPORT {eontinued)
FOR THE YEAR ENDED 31 DECEMBER 2024
RELATED PARTY TRANSACTIONS
The majority of Trustees on the Foundalion'q board are connected to the Archbiqhop of Canterbury through their roles as
senior members of the Archbishop's staff or by their association with other organisalion4 esiablished to support the work
of the Church of England.
The Archbishop of Canlerbury's Charitable Foundation, the Archbishops, Council, the Anglican Consultative Council,
th¢ Archbishop of Canterbury's AngFlican Communion Fund, and the Centre for Culturnl Witness share common aims to
promote ihe Christian failh.
The Archbishops, Council iq a charity, set up in law Io co-ordinate, promote, aid and ￿rther the work and mission of the
Church of England. li ha% responsibilities regarding the Synodical governance and business of the Church of England.
The Archbishop of Canterbury is Joint President of the Archbishops, Council (along with the Archbishop of York) by
virtue of his Office, but ther¢ are no other Trustees in common with ihe Archbishop's Charitable Foundation. In 2024, no
grants were made (2023: nil).
The Anglican Consultative Council is a charity, set up in law to support the Anglican Church worldwide. The
Archbi%hop of Canterbury is President of the Anglican Consultative Council and a Trustee of the charity by virtue of hRs
Office, but ther¢ are no other trustees in common. In 2024 two grants were made, lotalling £25,000 (2023: nil).
The Archbishop of CanteA)ury's Anglican Communion Fund is a charity set up in law to help the churches and provinces
of the Anglican Communion in times of crisis. The Archbishop of Canterbury 15 Chair of the TnJstee8 by virtue of his
o￿lce, but there are no other truslees in common. No grants were made in 2024 {2023.' nil).
The Centre for Culiural Witness 18 a charily sel up in law to work with theologiians and contemporary thinkers to make the
Christian faiih betler understood in the public arena. The Revd. ljeoma Ajibade is a trustee by virtue of her role as Chief
of Staff at Lambeth Palace. In 2024, 1 granl of £50,000 was made (2023: £148.212).
In making grants lo the Centre for Cultural Wilness for specific Purposes. the Trustees of the Foundation are satisfied that
they are promoling the Christian faith by providing resources to enable the Centre for Cultural Witness to promole public
understanding of the Chrisiian faith and enhance the Church's contribution to public life and discourse.
In 2023, 4 grants lotslling £313,900 were made by the Archbi%hop of Canterbury's Charithble Foundation to the Church
Coinmissioners to Support areas of ministry in which the Archbishop of Canterbury is involved. Both the Archbishop of
Canlerbury's Charitable Foundation and the Church Commiknioners share common aims lo promote the Christian Failh.
No grant&+ were mad¢ in 2024.
The Church Commlssioners are a statutory organi.sation and a charity registered in law to promote the mi88ion and
ministy of the Church of England. The Church Conunissioners are responsible for resourcing Church of England
bishops and archbishops in iheir ministry. The Archbishop of Canterbury is Chair of the Board of Governors by virtue of
his Office and Morag Ellis KC is also a Church Commissioner. There are no other trustees in common with the
Archbishop of Canterbury's Charitable Foundation.
In making grants to the Church Commissioners for specific pu￿OseS, the Trustees of the Foundation are satisfied that
they are promoling the Christian faith by resourcing and strengthening the ministy of the Church of England.
During ihe year the charily received donations from the House of Lords in lieu of attendance allowances waived by The
Archbishop of Canterbury. lot211ing £5,966 (2023.. £7,092). During the year the charity received donations of £6,049
from Bloomsbury Publishing and Hymns Ancient & Modern (2023.. £4,974 from the BBC and The Guardian) in lieu of
fees for various publications and appearances waived by The Archbishop of Canterbury.
In 2024, a donation of £3,350 was received from the Society for Promoting Christian Knowledge (2023.. £10,311 }, in
respecl of royalties owed to The Archbishop of Canterbury. The Archbishop of Canterbury is ihe President of the Society
for Promoting Christian Knowledge.

THE ARCHBISHOP OF CANTERBURY'S CHARITABLE FOUNDATION
REPORT OF THE TRUSTEES (INCLUDING DIRECTORS, REPORT (continued)
FOR THE YEAR ENDED 31 DECEMBER 2024
FINANCIAL REVIEW
The income of the Foundation has been distributed in accordance with the tern]s and objects of the Charity during the
fmancial year.
The Trustees consider that the Charitable Foundation's affairs were satisfactory during the course of, and at the end of the
year.
The Twstees are confident that sufficieni funds will be available to meet the futur¢ needs of the Charity.
The Statement of Financial Aclivities for the year ended 31 December 2024 is set out on page 12 and shows total net
incoming resources for the year of £177,290 (2023: outgoing £125,820). The net incoming resources include realised gains
on investments of £4,820 {2023- £9,744) and unrealis¢d gains on investments of £67,683 {2023.' £273,235).
The Trnstees are satisfied with th¢ net fmancial position as al 31 December 2024 of £3,214,982 {2023- £3,037,692).
The charity does not engage in external fundraising services, and no complaints were received in respecl of its fundrai.sing
activities.
GOING CONCERN
The Trustees are satisfied that the Foundation has suffici¢nt reserves io maintain budgeted spending levels and the
flexibility lo increase grant spending where desired by utilising its liquid investment base and strong cash reserves. The
Foundation is a going concern and will remain so for the foreseeable future.
PLANS FOR THE FUTURE
For the foreseeable ￿tUre the Trustees are committed to continuing a regular grant making programme where such
programmes continue to merit fvnding, but at the same time remain flexible and open to making further specific
donations where there is a need and provided the grant will support significant public benefit and charitable value that
outweighs any potential depletion in the investment base of the Foundation.
STATEMENT OF TRUSTEES, RESPONSIBILITIES
Th¢ Trustees, who are also directors of the charitable company, are responsible for preparing the Trustees. Annual Report
and the fmancial statement*4 in accordance with applicable law and regyulations.
The report and accounts have been prepared in accordance with the provisions in the Companies Act 2006 relating to small
companies. Company law requires the charity trustees to prepare financial statements for each financial year which give a
true and fair view of the state of affairs of the charitable company and of the incoming resources and application of
r¢sources, including the income and exp¢nditLwe, of the charitable company for that p¢riod. Under that law th¢ charity
trustees hav¢ elected to prq)are the financial statements in accordance with United Kingdom Generally Accepted
Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the charity trnstees
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 company and of the profit or loss of the company for thal year. In preparing theqe fmancial statements, the charity
trustees ar¢ required to..
select suitable accounting policies and th¢n apply them consistently;
obs¢rve the methods and principles in the Charities SORP;
make judgments and accounting estimates that are reasonable and prud¢nt'
late whether applicable UK Accounting Standards have been followed, subject to any material departures
disclosed and ¢xplained in Ihe financial statements;
prepare the fmancial Statements on the going concern basis unless it is inappropriate to presume that the company
will continue in business.
The charity trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the
company's transactions and disclose with reasonable accuracy at any lime the financial position of ihe company and enable
them to ensure that ihe financial statements comply with the Companies Act 2006. They are also Tesponsibl¢ for
safeguarding the assets of the company and hence for tsking reasonable steps for the prevention and detection of fraud and
other irregularities.

THE ARCHBISHOP OF CANTERBURY'S CHARITABLE FOUNDATION
REPORT OF THE TRUSTEES (IIYCLUDING DIRECTORS, REPORT (Continued)
FOR THE YEAR ENDED 31 DECEMBER 2024
In so far as the Trusiees are awar¢:
there is no relevant audit inforniation of which the charitable company's auditor is unaware and
the Trustees have taken all steps thai they ought to have taken to make themselves aware of any ￿levant audit
inforn]ation and to establish that ihe auditor is aware of that infonnation.
In preparing thi% report, the Trustees have tsken advantage of the small companies, exemptions provided by section 415a of
Ihe Companies Act 2006.
Signed on behalf of the Trustees on 4th of July 2025
Julian John Adams
Trustee
The Revd. Jesutosin Oladipo
Trustee

AUDITOR'S REPORT TO THE TRUSTEES OF
THE ARCHBISHOP OF CANTERBURY'S CHARITABLE FOUNDATION
Opinion
We have audited the financial staiements of The Archbishop of Canterbury's Charitable Foundation {'the charitsble
Company.) for the year ended 31 December 2024 whi¢h comprise the Statement of Financial Activities, Balance Sheet
and notes lo the financial statements, including significant accounting policies. The fmancial reporting framework that
has been applied in their preparation is applicable law and United Kingdom Accounting Stsndards, including FRS 102
The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted
Accounting Practice).
In our opinion, the financial stalements..
give a true and fair view of the state of the charitable company's affairs as at 31 December 2024 and of its
incoming resources and application of r¢sources for the year then ended.
have been properly prepared in accordance with United Kingdom Generally Accepied Accounling 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 Audiling (UK) (ISAS (UK)) and applicable law.
Our responsibilities under those standard8 are further described in the Auditor's responsibilities for the audit of the
financial statements seclion of our report. We are independent of the charitable company in accordance with the ethical
requiremenis that are relevant to our audit of the financial statemenLs in the UK, including the FRC'S Ethical Standard
and we have fulfilled our other ethical responsibilities in accordance with these requir¢ments. We believe that the audit
evidence we have obtained is sutTicient and appropriate to provide a basis for our opinion.
Conclusions relating to going eoncern
In auditing the fmancial statements, we have concluded that the tTUSte¢s' use of the going concern basis of accounting in
the preparation of the financial statements is appropriate.
Based on the work we have perfomied, we have not identified any material uncertainties relating to events or conditions
that, individually or collectively, may casl significant doubt on the Charity's ability to continue as a going concern for a
period of at least 12 months from when the financial statemenls 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 oiher inforn]ation comprises the infornlation included in the annual report, including the trustees, report, other than
the financial statement8 and our auditor's report thereon. The trustees are responsible for the other inforn)ation contain¢d
within th¢ annual report. Our opinion on the financial slatemenis does not cover the other inforniation and, except io th¢
extent otherwise explicitly stated in our report, we do not express any fonn of assurance conclusion thereon.
Our responsibility is to read the other inforn)ation and, in doing so, consider whether the other inforn]ation is materially
inconslstenl wilh the fmancial statements or our knowledge obiained in the course of the audit, or otherwise appears to be
materially misstated. If we ideniify such material inconsistencies or apparent material misstat¢ments, we are required to
deternjine whether ihis gives rise ¢0 a material misslatemenl in the financial statemenls themselves. If, based on the work
we have perfomed, we conclude that there is a material misstatement of this other inforniation, we are required to report
that fact.
We have nothing to report in this regard.
Opinions on other 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 trnstees, report, which includes the directors, report prepared for the purposes of
company law. for the financial year for which the financial statemenis are prepared is consistent with the
financial statements. and
Ihe directors, report included within the trustees, report has been prepared in accordance with applicable legal
requirements.

AUDITOR'S REPORT TO THE TRUSTEES OF
THE ARCHBISHOP OF CAIYTERBURY'S CHARITABLE FOUNDATION (continued)
Matlers on Ivhich Ive are required lo report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit,
we have not identified material misstatements in the directors, report included within the trnstees, report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 require us to
rq)ort to you if, in our opinion:
adequate and proper accounting records have not been kept. or returns adequate for our audit have not been
received from branches not visited by us;
the financial statements are not in agreemenl with the accouniing records and returns-
certain disclosures of trustees, remuneration specified by law are not made.
we have not received all the information and explanations we require for OUT audit- or
the trustees were nol entitled to prepare the fmancial statements in accordance with the small companies regime
and take advanLqge of the small companies, exemptions in preparing the trustees, report.
Responsibilities of trustees
As explained more fully in the trustees, responsibilities statemenl set oul on pagFe 7, the trustees (who are also the
directors of the charitable company for the purposes of company law) are r¢sponsible for the preparation of the financial
statements and for being satisfied that they give a true and fair view, and for such internal control a8 the trustee
detennine is necessary to enable the preparaiion of financial statemenLs that are free from material misstatement, whether
due to fraud or e￿Or.
In preparing the financial staiemenLs, the trustee% are re%pon8ible for assessing the company'8 ability to ¢ontinue 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
Our objeclives are lo obthin 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, bul is not a guarantee thal 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 malerial if, individually or in the aggregate, they could
reasonably be expected io influence the economic decisions of u%ers taken on the basis of these financial stalements.
Irregularitie8, including fraud, are instances of non-compliance with laws and regulations. We design procedures in lin¢
with our responsibilities, outlined above, to delect malerial missiatements in respect of irregularities, including fraud. The
exlent to which our procedures are capable of dei¢¢ting irregularities, including fraud is detailed below.
Our approach was a.s follows..
Enquiring of managemenl, including obtaining and reviewing supporting documentation, concerning the
policies and procedures relating lo..
identifying, evaluating and complying with laws and Tegulalions and whether they were aware of any
instances of non-compliance-
detecting and responding 10 the risks of fraud and whether they have knowledge of any actual,
u%pected or alleged fraud. and
the internal control% e4tablished lo mitigate risks related to fraud or non-compliance with laws and
regulations.
Discussing among the engagement team how and where frdud mighi occur in the Financial Stsiements and any
potential indicators of fraud.
Obthining an understanding of the legal and regulatory frameworks that the Lharily operat¢8 in focusing on those
laws and regulations that had a direct effect on the Financial Statements or thai had a tundamental effect on
operations.
10

AUDITOR'S REPORT TO THE TRUSTEES OF
THE ARCHBISHOP OF CANTERBURY'S CHARITABLE FOUNDA TION (continued)
We identified the greatest risk of material impact on th¢ financial statements from irregularities, including fraud, to be
within the r¢cognition of income and the override of controls by management. To address the risk of fraud in these areas,
w¢:
Reviewed income documentation to verify any obligations and restrictions which may apply.
Perfornied analytical procedures to identify unusual or unexpected relationships.
Tested journal entries to identify transactions which were not in the usual course of business.
Assessed whether judgements and assumptions made in detennining th¢ accounting ¢stimates were indicative of
potential bias.
Investigated the rationale behind significanl or unusual transactions.
There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are
from fmancial transactions, the less likely it is that we would become aware of non-compliance. Auditing sLqndards also
limit the audit procedures required io identify non-compliance with laws and regulations to enquiry of the directors and
other management and the inspection of regulatory and legal correspondence, if any.
Material misstatemenls that arise due to fraud can be harder to detect than those that arise from error as they may involv¢
deliberate concealment or collusion.
A further description of our responsibilities is available on the Financial Reporting Council's webstte at..
www.frc.or .uklaudit0￿reS
onsibilitie%.
This description fonns part of our auditor's report.
Use of our report
Thts report is made sol¢ly to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of
the Companies Aci 2006. Our audit work has been undertaken so that we might state to ihe charithble 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 perniitted by law, we do noi 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.
Lisa Wilson FCA (Senior Statutory Auditor)
For and on behalf of Rothmans Audit LLP, Statutory Auditor
Chilworth Point
I Chilworth Road
Southampton
S016 7JQ
Dat¢.. 3Q.July.2.025..........

THE ARCHBISHOP OF CAIYTERBURY'S CHARITABLE FOUNDATION
STATEMENT OF FINANCIAL ACTIVITIES
INCORPORATIIYG THE INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2024
Restrficted
General
Unrestricted
Fund
Total
Funds
2024
Tolal
Funds
2023
Fund
Notes
Income from:
Donaiiorts & Legacies
Donations received
117,364
117.364
278.431
Investments
Interest received
Income from assets
535
83,801
535
83,801
89,721
Tolal
201,700
201,700
368,216
Expenditure on..
Charitsble activities
96,913
96,913
777,015
Total
96,913
96,913
777,015
Realised gains/(losses) on
investments
Unrealised gains/
(losses)on investments
4.820
4.820
9,744
67,683
67,683
273,235
Net gains on investments
72,503
72,503
282,979
Nel Incomel(Expenditure)
177,290
177,290
{125,820)
Nel movement in fund$
Reconciliation of funds:
Income fundts b/f
177,290
177,290
(125,820)
3,037,692
3,037,692
3,163,512
Funds carried fonvard
£3,214,982
£3,214,982 £3,037,692
All transactions are derived from continuing activities.
All gains and losses recognised in the year are included in the Statement of Ftnancial Aclivilies.
The comparalive figures for the comparative period have been presented under SORP (FRS102) in Note 12.
The notes on pages 14 to 22 fonn part of these fmancial slatements.
12

THE ARCHBISHOP OF CANTERBURY'S CHARITABLE FOUNDATION
BALANCE SHEET
COMPANY NUMBER 7453039
CHARITY NUMBER 1139299
AS AT 31 DECEMBER 2024
2024
2023
Note5
FIXED ASSETS
Investments
3.024,776
3,152,273
CURRENT ASSETS
Cash at Bank
Debtors
204,577
20,799
262,759
31,782
225,376
294,541
LIABILITIES
Creditor8: Amounts falling due within
one year
{35,170)
(409.122)
NET CURRENT ASSETSIILIABILITIES)
190,206
(114,581)
TOTAL NET ASSETS
£3,214,982
£3,037,692
FUNDS
10,1 i
Restricted Funds
Unrestrieted funds
General
3,214.982
3,037.692
TOTAL CHAIUTY FUNDS
£3,214,982
£3,037,692
These financial slatements are prepared in accordance with the special provisions of Part 15 of the Companies Act 2006
relating to small companies.
The financial statements were approved and authorised for issue by the Board of the Twstees. and signed below on its
behalf on 4th July 2025 by:
ohn Adams
Trust¢e
The Revd. Jesutosin
Ttustee
adipo
The notes on pages 14 to 22 fonn an integral part of these financial ststements.
13

THE ARCHBISHOP OF CANTERBURY'S CHARITABLE FOUNDATION
IYOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
ACCOUNTING POLICIES
General Information and basis of preparation
The Archbishop of Canterbury's Charitable Foundation is a company limiled by guarantee and is registered with the
Charity Commissioners (Charity Registered Number 1139299) and Registrar of Companies (Company Registration
Number 7453039) in England and Wales. The Charity is a company limited by guarantee and has no share capital.
In the event of the Charity being wound up, the liability in respect of the giuarantee is limited to £ I per member of the
Charity. The address of the registered office is given in the Charity infoTmation on page l of these financial
slatements.
The financial statement% have been prepared in accordance with Accounting and Reporting by Charities.. Statement
of Recommended Practice applicable to chariti¢¥ preparing their accounts in accordance with the Financial Reporting
Standard applicable in the UK and Republic of Ireland (FRS 102) - (Charities SORP Second Edition, effective I
January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) and the
Companies Act 2006.
The financial sLqlements are prepared in Sterling, which is the functional and presentation currency of the Charity.
The financial statements are prepared to the nearest pound.
The Archbishop of Canterbury's Charitable Foundation meets the definition of a public benefit entity under FRS102.
Assets and liabilities are initially recognised at historical cost or transaction value unless othenvise stated in the
relevant accounting policy notes.
GoRng Concern
In light of the available reserves and highly liquid investment portfolio, as detailed elsewhere in these accounts, the
Trustees consider there are no material uncertainties about the Charity's ability to continue as a going concern.
Judgements and estimates
Judgemenis made by the Tnjstees in the applicalion of these accounting policie&* that have significanl effecl on the
financial %tatements and eqtimate% with a significant ri%k of maierial adjusiment ihe next year are deemed to be
in relaiion to the valualion of inve4tsnenls and are discus%ed below.
Income Recognition
Income represents investment incom¢, grants & donations and other sundry income. All income is recognised once
the charity has entitlemenl io income. il is probable that income will be received; and th¢ amount of income receivable
can be measured reliably.
Expenditure
Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related
to the category.
Charitable Activities
Direcl charitable expenditure represents grants for the furtherance of the objects of the charity. Grants ar¢ recognised
in the accounts when awarded by the Trustees and the offers are conveyed io the recipients. The grants are awarded
at the discretion of the Trustees within the objects of the charity.
Governance Costs
Governance costs comprise all costs idenlified as wholly or mainly attributsble to ensuring the public accountability
of ihe charity and ils compliance with regulation. Governance costs are now apportioned to the charitable activities.
Investmenls
Inveslments are included in the financial slalements at market value at the balance sheet date. Realised and unrealised
gains and losses on revalualion and disposals occU￿l￿g in the year are reported in the Statement of Financial
Aclivitie5.
14

THE ARCHBISHOP OF CANTERBURY'S CHARITABLE FOUNDATION
NOTES TO THE FINANCIAL STA TEMENTS (continued)
FOR THE YEAR ENDED 3] DECEMBER 2024
ACCOUNTING POLICIES (continued)
Realised gains and losse5
All gFain8 and losses are taken to the slatement of financial activities as they arise. Realised gains and losses on
investments are calculaled as the difference between sal¢ proceeds and opening market value (purchase date if
later). Unrealised gains and losses are calculated as the difference between the market value at the year end and
opening market value (purchase dale if later).
Funds
General Unrestricted Funds are unrestricted funds which are availabl¢ for use at the discretion of the Trusttts in
furtherance of the general objeclives of ihe charity and which have not been designated for other purposes.
Unrestricted Designated Funds comprise unresiricted funds that have been set aside by the Trustees for particular
pury)os¢s. The Foundation held no Designated funds in the Current year of review.
Restricted Funds are funds subject to specifi¢ restrictive conditions imposed by the donors or by the Purpose of the
appeal.
Financial instruments
Basic financial instruments are initially recogni8ed al transaction value and subsequently measured at amortised
cost with the exception of investments which are held at fair value. Financial assets held at amortised cost comprise
cash at bank and in hand, together with trade and other debiors. A specific provi&*ion is made for debts for which
recoverability Is in doubt. Cash at bank and in hand is defined as all cash held in instant access bank accounts and
used as working capital. Financial liabiliti¢s h¢ld at amortised cost comprise all creditors except social security and
other taxes.
Cash at bank and in hand
Cash at bank and cash in hand includes cash and short terni highly liquid investments.
Creditors and provisions
Creditors and provisions are recogni8¢d where the charity has a presenl obligation resulting from a past event that
will probably result in the iransfer of funds to a third party and the amount due to %ettle the obligation can be
measured or estimated reliably. Creditors and provisions are nonnally recognised al their settlement amounl after
Ilowing for any trade discounts due.
TAXATION
As a registered chariiy, the Foundation is potentially exempt from taxation on its income and gains falling within
s505 Income & Corporation Taxes Act 1988 and s256 Taxation of Chargeable Gains Act 1992 10 the extent that
these are applied to its charitable purposes. No tax charge has arisen in the y¢ar.
DONATJONS & LEGACIES
2024
2023
Restricted Funds
Donations from Charitable organisations
Unrestricted Funds
Donations from charitable organisalions
Other donations
98,212
102,000
15,364
102,(K)O
78,219
Total
£117,364
£278.431
15

THE ARCHBISHOP OF CANTERBURY'S CHARITABLE FOUNDA TION
NOTES TO THE FINAINCIAL STATEMENTS (continued)
FOR THE YEAR EIYDED 31 DECEMBER 2024
GRANTS
The Foundation does not wn any chariLqble project of its own. Instead, it supports a number of charities which are
a¢tiv¢ly engaged in furtherance of objects similar to those of the Foundation by grant funding. A detailed analysis of
these grants, the recipients and the causes thal were funded during the year is included below:
Restricted
2024
Unrestricted
2024
Total
2024
Restricted Unrestricted
2023
2023
Total
2023
To advance the
Christian
religion (Object
(23,580)
(23,580)
148.212
520,745
668,957
To advance
Christian
education
17,531
17,531
6,309
6,309
(Object 2)
To promote the
religious &
other charitable
work of the
Church (Object
3)
Charitable
Purposes
(Object 4)
63,500
63,500
79,016
79,016
23,000
23,000
4,800
4.800
Total grants
Charitable
Support Costs
(Note 5)
80,451
16,462
80,451
16,462
148,212
610,870
17,933
759.082
17.933
£96,913
£96,913
£148,212
£628,803
£777,015
Further details of the charitable activities supported by the grants made in ihe year are given in the Trustees, Report.
16

THE ARCHBISHOP OF CANTERBURYYS CHARJTABLE FOUNDATION
NOTES TO THE FINAIYCIAL STATEMENTS (continued)
FOR THE YEAR ENDED 31 DECEMBER 2024
4. GRANTS (continued)
The following charitable institutions were supported by the above grants:
2024
2024
To advance Éhe Christian religion (Obj.l)
To advance Chrislian education (Obj. 2)
Chemin Neuf Community
The Cenire for Cultural Witness
Ministry in Sub Saharan Africa
30,455
50,000
10,000
Kaduna Centre
Grant under £5,000
10,000
7,531
Total
£17,531
Topromole ¢he religious and other
charitable w()rk of ihe Church
(Obj.3)
Church Assocn. Sudan
10,000
Anglican Church of Tanzania
Anglican Consultative Council
i 0,000
25,000
Church Pastordl Aid
Grants under £5,000
7.000
11,500
2023 Grant partially written back
(Church Commission¢rs Ministry
Consultancy)
(114,035)
Total
£63,$00
Total
(£23,580)
Charilable Purposes (Obj.4)
Council of Christians & Jews
Grdnts under £5,000
20,000
3,000
Total
£23,000
Total Grants
22 £80,451
Of the grants under Object 2, 3 grants, totalling £4,531, were paid lo individuals.
17

THE ARCHBISHOP OF CANTERBURY'S CHARITABLE FOUIYDATION
NOTES TO THE FIIYAIYCIAL STATEMENTS (Continued)
FOR THE YEAR EIYDED 31 DECEMBER 2024
GRANTS {eontinued)
COMPARATIVE 2023
The following charitsble instithtions were supported by the above grants:
2023
2023
To advance ihe Christian religion (Obj.l)
To advance Chris¢ian eduealion (Obj. 2)
Anglican Centre in Rome
Chemin Neuf Community
The Centre for Cultural Witness
Internal Province of Ghana
47,0(KJ
29,283
148,212
50,000
Grants Under £5,000
6,309
Total
£6,309
Church Commissioners
Ept￿0paI Church of South Sudan
298,900
46,000
To promote the reliRious and oiher
charilable work of the Church (Obj. 3)
Coventry Di(￿e8C
Ministry in Sub Saharan Africa
30.000
20,000
Southwark Diocese
ChurLh Commi%sion¢rs
Phillipine Independent Church
21,083
15,000
25,000
7,000
7,000
2022 Grant partially written back
(Archbishops, Council)
{438)
Church Pastoral Aid
Total
16 £668,957
Grants Under £5,000
2021 Grant partially written back
(Southwark Diocese)
Total
7,850
(3,917)
£79,016
Charitable Purposes (Obj. 4)
Grants under £5,000
4,800
Total
£4,800
Total Grants
36
£759,082
Of the grants under object 2, 7 grants totalling £5.209 Ivere paid to individuals.
18

THE ARCHBISHOP OF CANTERBURY'S CHARITABLE FOUNDATION
NOTES TO THE FINANCIAL STATEMENTS (continued)
FOR THE YEAR ENDED 31 DECEMBER 2024
CHARITABLE SUPPORT COSTS
2024
2023
Other Support costs
Governance costs:
Auditors, remuneration
Auditors. remuneration for non-audit services
Accountsncy fees
672
870
12,025
900
2,866
12,083
2,280
2,700
£16.463
£17,933
Charitable support cosls are allocated against the grant making activity
of the Charity.
STAFF COSTS
The Charity does not have any employees.
INVESTMENTS IN CHARITABLE FUNDS
Lisled
managed
Funds
Total
Total
2024
2023
Market value at l January 2024
Disposal proceeds
Net realised gain on disposal
Net unrealised gain on revaluation as ai 31
December 2024
£3,152,273
(200,000)
4,820
3,152,273
(200,000)
4,820
£3,119.294
(250,000)
9,744
67,683
67,683
273,235
Market valu¢ as at 31 December 2024
£3,024,776
£3,024,776
£3,152,273
Hislori¢al Cost Yds at 31 December 2024
£1,160,953
£1,160,953
£1,223,706
The Foundation's unlisted investments are holdings in the CCLA CBF Church of England Investments and Fixed
Interest Securities Funds Income Shares. They are shown at their published bid value based on the market values of
the Funds, ass¢ts.
DEBTORS: amounts due within one year
2024
2023
Accrued income
20.799
31,782
£20,799
£31,782
CREDITORS: amounts due wlthin one year
2024
2023
Grant creditors
Accrued expenses
19,750
15,420
392.322
16.800
£35,170
£409,122
19

THE ARCHBISHOP OF CANTERBURY*S CHARITABLE FOUINDATION
NOTES TO THE FINANCIAL STATEMENTS (continued)
FOR THE YEAR ENDED 31 DECEMBER 2024
io.
ANALYSIS OF NET ASSETS BETWEEN FUNDS
Restricted Funds
Unrestricted
Funds
Unreslri¢tedlTotal
Funds
2024
2024
2023
Represented by:
Investments
Currenl assets
3,024,776
225.376
3.152,273
294,541
Current liabilities
(35,170)
(409,122)
Fund balances at 31 December 2024
£3,214,982
£3.037,692
FUNDS
Balance
Balance
31
December
on
TraD5fer
between
Funds
I JAnuary
2024
Income
Expend.
Investments
2024
Restricted Fund
Unrestricted Fund
General Fund
3,037,692
201,700
{96,913)
72,503
3,214,982
Total funds
£3,037,092
£201,700
{£96,913)
£3,214,982
Each year a budgel is drawn up of the annual commitmenLs (granls}. The Trustees aim to keep the regular commitled
expenditure within ihe ¢xp¢cted in¢ome. Any other larger or one-otT additional grants are paid from the accumulated
unspent general fund.
20

THE ARCHBISHOP OF CANTERBURY'S CHARITABLE FOUNDA TION
NOTES TO THE FINANCIAL STATEMENTS (continued)
FOR THE YEAR ENDED 3] DECEMBER 2024
11. FUNDS
(continued)
COMPARATIVE
2023
Balance
Galn on
l January
2023
Transfer
between funds
31
December
2023
Income
Expend.
Investments
Reslricted Fund
98,212
(148,212)
50,000
UDrestrl¢ted Fund
Genwal Fund
3.163,512
270,(K)4
(628,803)
282,979
(50,0(M))
3,037,692
Total funds
£3,163,512
£368,216
£ (777,015)
£282,979
£3,037,692
12. LIFIKED CHARITIES
All of the income and expenditur¢ of the charity and linked charities during the year relate to the primary charity, The
Archbishop of Canterbury's Charitable Foundation. The linked charities, as detsiled in the trustees. report, a
donnant.
13. TRANSACTIONS WITH TRUSTEES AND THE CHARITY
Any connections between th¢ Foundation and certain specified donors and grant recipients are explained in detail in
the Trustees, Report on page 6 (Related Party Transactions). The Tru.stees are satisfied that the connected entiti¢s
have charitable aims in common with the Foundation and that there are no conflicts of interest arising from thes¢
connections that prevent the Foundation from providing public benefii and fulfilling its Charitable purposeq.
There were no payments to or receipts from Tnistees of the Foundation. nor have the Trustees received any
remuneralion or reimbursement of expenses in the curreni or previous year.
21

THE ARCHBISHOP OF CANTERBURY'S CHARITABLE FOUNDATION
NOTES TO THE FINAINCIAL STATEMENTS {Continued)
FOR THE YEAR ENDED 31 DECEMBER 2024
14. COMPARATIVE SOFA (CHARITIES SORP)
Restricted
General
Unrestricled
Funds
Total
Total
Funds
2022
Fund
2023
Notes
Income from:
Donations
Legacie.s
Donations received
98,212
180,219
278,431
241,362
Inve.f¢menl.
Inlerest received
Income from assets
64
89,721
26
110,644
89,721
Tolal
98,212
270,004
368,216
352,032
Expendilure on:
Charitsble activities
148,212
628,803
777,015
1,237,550
Total
148,212
628,803
777,015
1,237,550
Realised
gain%l(losses)
investments
Unrealised
gainsl(losses}
InvestmenLs
9,744
9,744
(97,566)
on
273,235
273,235
{414,094)
on
Nei gainsl(losse8) on
investments
282,979
282.979
(511,660)
Net
(Exp¢nditure)/lncome
Tran%fer between
funds
(50,000)
(75.820)
{125,820}
{1,397,178)
50,000
(50,000)
Net movement in
funds
Reconciliation
funds:
Income funds blf
(125,820)
(125,820)
(1,397,178)
3,163,512
3,163,512
4,560,690
Funds carried fonvard 10
£3,037,692
£3,037,692
£3,163.512
All transactions are derived from continuing activities.
All gains and losses recognised in the year are included in the Siatement of Financial Aclivities.
The comparative figures for the comparative period have been presented under SORP (FRS102} in note 12.
The noles on page 14 10 22 fonn part of these financial statements.
22