Company registration number.. 08809420
Charity registration number.. 1155762
THE SWEDISH CHURCH IN LONDON LIMITED
(A COMPANY LIMITED BY GUARANTEE)
ANNUAL REPORT AND CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Church
r of Sweden

THE SWEDISH CHURCH IN LONDON LIMITED
CONTENTS
Reference and Administrative Detsils
Tnjstees Report
2to9
Stalement of Truslees. Rest)onsibilities
10
Independent Auditors, Report
11 to14
Consolidated Ststement of Financial Activities
15to16
Consolidated Balance Sheet
17
Balance Sheet
18
Consolidated Ststement of Cash Flows
19
Notes lo the Financial Statements
20to39

THE SWEDISH CHURCH IN LONDON LIMITED
REFERENCE AND ADMINISTRATIVE DETAILS
Chairman
Per Jonsson
Trustees
Per Jonsson
Mike Christopherson
Christian Bjamram
Per Olov Emanuelsson
Joachim Wrang-widén
Sofia Olofsson
Ann Evander
Reverend Hakan Wilhelmsson
Svante Adde
Principal Office
6 Harcourt Street
London
W1H4AG
Registered Office
6 Harcourt Street
London
W1H 4AG
Company Registration Number
08809420
Church Registration Number
1155762
Bankers
SEB Bank
2 Cannon Street
London
EC4M 6XX
Independent Examiner
Shaw Gibbs {Auditl Limited
Statutory Auditor
Salatin House
19 Cedar Road
Sutton
Surrey
SM2 5DA
Page 1

THE SWEDISH CHURCH IN LONDON LIMITED
TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2024
The Trustees, who are directors for the purposes of company law. present the annual report together with the
financial slalernenls of the charitable company forthe year ended 31 De￿mber 2024.
Governing documentation and constitution
Ulrika Eleonora Swedish Parish in London, also known as The Swedish Church in London Ltd, was established
in 1710. The Swedish Seamen's Church (established in 18991 has been an integral part of the Swedish Church in
London since 1994. The propety on 120 Lower Road was owned by a separate unregistered charitable trust and
sold on 8th April 2015. The unregistered charity has been liquidated.
The Swedish Church in London is registered under the Places of Worship Act 1885.. 19984 29171911. Its address
is 6 Harcourt Street. London W1H 4AG. The proprietor of the propety at 6-11 Harcourt Street is the Official
Custodian for Charities on behalf ofThe Swedish Church in London.
The presenl Articles of Association of The Swedish Church in London were adopted on 151h December 2013 and
came into force from 1st January 2014 when the company limited by guarantee became operational. The Articles
include information on the relationship between The Swedish Church in London and its Bishop (of Visbyl as well
as the Board for Church of Sweden Abroad (SKUT), an organisation under the General Synod of the Church of
Sweden and its offices at Church House. SE7 5170 Uppsala. Sweden.
The Swedish Church in London is a company limrted by guarantee which registered as a charity on 12 February
2014. no.1155762 in England. The charitable objects ofthe parish are..
to advance the Christian faith for the benefit of the public in accordan￿ with the doctrine as set down in
chapter 1 of the Constitution ofThe Church of Sweden; and
to promote general charitable purposes. primarily for the benefit of members of the parish and those closely
associated with them and related institutions.
Public benefit
The Trustees confirm that they had due regard to the guidance contained in the Charity Commission's general
guidance on public benefil when reviewing the charity'5 airns and objectives and in planning fulure aclivilies. The
Trustees consider that the charity has complied with the duty in section 17 of the Charities Act 2011 to have due
regard to public benefit guidan￿ published by the Charity Commission.
Trustees
The Trustees who held office during the year and up until the approval of these financial statements were..
Per Jonsson
Mike Christopherson
Christian Bjamram
Per Olov Emanuelsson
Joachim Wrang-widén
Sofia Olofsson
Ann Evander
Reverend Hakan Wilhelmsson {appointed on 1 September 2024)
Svante Adde {apwinled on 4 September 2024)
Tnjstees who resigned during the year were as follows:
Peter Wanehag (resigned 06 Sept 2024)
Trustees do not receive remuneration or benefits from the charity in relation to their role as Trustees.
Page 2

THE SWEDISH CHURCH IN LONDON LIMITED
TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 (CONTINUED)
STRUCTURE. GOVERNANCE & MANAGEMENT
Nature of governing document
A board of Trustees, elected by the Members, govem the Church.The Trustees meet al least five times a year.
Tnjstees are responsible for financial matters within a budget established by the board in January every year.
In May, the Church Member Annual Meeting is held to make decisions on matters such as the level of annual
church fees, appoinlment of auditors and election of Trustees and Nomination Committee. The Church Member
Meeting adopts financial statements and annual reports.
Members of The Swedish Church in London congregation are those who have paid a member fee. The Trustees
may accept applications for membership from non-swedish Christians. The electoral roll comprises all members
having paid the annual Church subscription or are lifetime members.
Staff
There were 12 employees, both full-time and part-time, working in the Swedish Church in London. Three of them
(rector, chaplain, and organist) are supported from Sweden and paid for by the Church of Sweden.
Key management personnel
The Articles consider the rector to be the key management personnel of the charity- The rector is employed by
the Swedish Church in London. The Swedish Church Abroad (SKUT) participates in Ihe recruilment process.
PRINCIPAL RISKS
Risk assessment process
A risk assessment process is in place for all aspects of the organisation. The Trustees have considered Ihe risks
faced by the Church and, where appropriate. steps are taken to mitigate those risks which have been identified.
The major risk that has been identified relates to the uncertainty about the level of funding the Church will receive
from Sweden. The Trustee5 are working lo meet the deficil in a responsible and lasting way. The financial
well-being of The Swedish Church in London is dependent on fund-raising activities and annual members, fees.
other risks involve practical and repulational risks conceming the Church's activities, buildings and slaff as well
as donations from the Swedish Benevolent Trust charity. A full inspection of the buildings and technical
installations of the Church is carried out every five years.
Work with children
The Trustees have introduced schemes to ensure obseNance of legislation requiring Churches and olher bodies
to obtain police checks for any new employee or volunteer who may come in contact with children. The Church
acts in Ihis respect via the Lulheran Council of Great Britain which provides services a5 an ecumenical umbrella
body coordinating required checks. The Swedish police authorities provide checks on staff employed from
Sweden. Also. all Staff and Volunteers are checked with the Disclosure and Barring Service IDBSI. The Church
also agrees and works under the Diocese of London's and Diocese of Southwark s Safegkjarding Child and Adult
Protection Programme.
Page 3

THE SWEDISH CHURCH IN LONDON LIMITED
TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 (CONTINUED)
RELATIONSHIPS WITH RELATED PARTIES
The Swedish Church Abroad {SKUT
The Swedish Church Abroad {SKUTI together with the Bishop of Visby oversees the Swedish Church in London
Ltd in religious matters giving instructions to the Rector on matters regarding Evangelical Lutheran Church
procedures and related issues. During 2024, 3 (2023: 3) the salaries of three full-time members of staff were
funded by a grant from SKUT.
The Swedish Benevolent Trust (registered charity no: 263680)
The Swedish Benevolent Trust donates lo the Church's social care aclivilies by making grants lo the Swedish
Church in London. The Swedish Benevolent Trust enables the Church to employ full-time Deacons and to
provide a considerable range of social welfare services. The Trusl grant also covers the cosl for part-time
administrative seNices provided by the Church. The total amount received during 2024 was £120,000 (2023..
£120,000).
OBJECTIVES AND ACTIVITIES
Objects and aims
Until 2008. The Swedish Church in London, with the Seamen's Church in London, was responsible for religious.
social and cultural work in England south of (and including) Bimiingham. The Church took over the responsibility
for all of the British Isles from 1 January 2009 and after surveys and testing the Church Ca￿leS out regular
Se￿1￿$ and meetings for Swedes throughout the British Isles. The religious, social and cullural work is also
directed towards short stay Swedish visitors as well as Swedish tourists.
Achievements and perfomiance
Church of Sweden Abroad aims for:
"Openness. Faith and Hope"
We work to the motto:
"A living diaconal Church - an oasis in London"
Swedish Church in London Ltd. Ulrika Eleonora Parish. is covering the British Isles including Ireland. The church
building Ulrika Eleonora, a freehold property, owned by the local congregation, is the main centre for aclivilies.
The church café was open five days a week and on Sundays following our Service, however in summertime it
was three days plus Sunday. During Ihe year we did visits around the UK and Ireland. Places visiled.. Belfa51,
Birmingham, Bournemouth. Brighton. Winchester, Cardiff. Dublin. Edinburgh, Inverness. Newcastle, Bath, Bristol
Glasgow. Liverpool.
Page 4

THE SWEDISH CHURCH IN LONDON LIMITED
TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 (CONTINUED)
hi
Swedish worship has been celebrated in London since 1673 and in Ulrika Eleonora {UEI congregation every
Sunday Sin￿ 1710. Some seNices during the year were also livestreamed at the same time they were
celebrated in church with the congregation present. In 2024 we celebrated 166 services with 4118 participants.
4232 persons attended the Lucia services. Baptisms, weddings and funeral servi￿$ also take place as required.
We offer Swedish services at several locations in the UK and Ireland.
Goals forlhe year.
Celebrate Mass every Sunday. and from October every Wednesday moming.
Invite the congregation to church coffee after the seNices to create opportunities for people to socialise and
speak Swedish.
To provide a rich music life in services and other gatherings. The church choir sings in services. A couple of
times this year we have invited families to sing al services as a project choir al family focused services.
Services in English twice a year.
Celebrate worship at least twice per year at several locations. see above.
Lucia setvices at Southwark Calhedral, St Paul's Cathedral or Westminster Cathedral, St Marylebone Parish
Church and 8 services at UE. In addition. the choir visited Brighton for a Lucia services. The chaplain served
at Lucia setvices in Belfast and Edinburgh and the rector in York.
Perfomi baptisms. weddings and funeral services for members of our church.
Invite families of those members who have died during the last year to a Memorial Service on the Sunday of
All Sainls.
Invite families of Ihose who have been baptised during the last year to a service at Candlemass for a baptism
feast and to collect a glass angel given to them at the baptism, hanging in our baptism tree.
Teachin
All teaching within semions at mass are with a view to broaden and deepen Ihe congregation's knowledge of
Christian faith and Christian life. We provide the opportunity to take part in Confirmation class and for 2024 this
took place in the spring. At some Sundays after the seNice, we arranged short deepening seminars in relevant
theological subjects.
Regular social meetings for all different age groups. where people can feel a sense of belonging, where they
can sUPPOrt each other and where we can identify people who need additional support.
Availability of counsellinglspiritual guidan￿ support.
Many supporting phone calls to people.
Meetings with café hosts and Church wardens.
Supporling individuals in their contact wilh social services, courts etc.
Working close with the Swedish Embassy for people in need.
Home visits and hospital visits.
The goal for our mission this year was to reach an increasing number of Swedish speaking people with the
Christian message and to give a positive view of the Swedish Church in Great Brilain and Ireland, so thal people
will join our community of faith. During 2024. the website, newsletters and social media have continually given
updates about church activities and services to the congregation and wider community.
Page 5

THE SWEDISH CHURCH IN LONDON LIMITED
TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 (CONTINUED)
Goals of ecumenism during the year included to deepen relations with the Church of England, other Lutheran
churches, Christian churches and denominations and other religions in London locally. The ongoing ecumenical
dialogue reflects the contacts we have and often concem the Porvoo agreement.
The Swedish Church belongs to the local Deanery within London di0￿Se where our priests and deacons
attend deanery rneelings and gatherings.
Priests and deacon have permission lo officiate in the Church of England.
Lucia services with the choir took place in Westminster Cathedral. Southwark Cathedral, St Marylebone
Parish Church and St Bartholomew Church in Brighton. In addition, the chaplain participated in Lucia seNices
in Belfast and Edinburgh and the rector in York.
Swedish Church worship in local churches during 28 visits to other parts of the UK and Ireland.
Per Jonsson, our chairman, was elected to be chaimian trustee of the Lutheran Council in Great Britsin al
their AGM in June 2024. where the Swedish Church is a member.
Latvian Lutheran Church celebrates Sunday Mass at the Swedish Church fortnighlly and the Icelandic twice
per year.
We also participate at the Nordic Breakfast with other Nordic churches a couple of times a year.
Other activi
ecial
ro ects l events:
Music - during 2024 we have a Director of Music and the church choir and the Lucia choir continues to thrive.
Advent and Christmas collections were divided three ways.. Swedish church, diaconal work and St Mungo's la
local London charity).
The Christmas Fair gathering. with approximately 180 volunteers, took once again place indoors. 4500 people
visited the fair and the profit before tax was £83.000.
We had 6 gatherings around the Eurovision Song Contest in Sweden, which was projected on to a large
screen in the Swedish Hall.
Author s day
We participated for the second time in the London Pride parade.
We have introduced theme evenings with typical Swedish food. such as meatballs and tacos.
Over 2700 persons visited Svenska salen or the library for special evenls.
The Café has had 2300 guest5.
We have a close relationship with the North London Swedish School, who have Swedish classes for children
in our building on Saturdays and also a growing contact with the Swedish School in Barnes, London.
Buildin
su
ort and comrnittees:
The Swedish Church in London has always been a parish church and is owned by the congregation as almost
all the parish churches in Sweden and the UK.
Very good support fmm the Church Office has been obtained for purposes such as HR, IT, canon law and
archives.
Swedish Church in London had the following committees during the year= Real Estate. Christmas Fair, Lucia,
Nomination, Personnel and Thora Ohlsson Cultural Fund.
Challen
es Visions Lookin
to the future:
We continue to work with the core values of the Church of Sweden Abroad values= "Openness, Faith, Hope".
In the summer of 2025 we are seeking tofind a long term rector and deacon.
It is very encouraging that we are back to relatively nomial numbers after the pandemic. for example at our
senior lunches and services al other locations. We are engaged in and our minds are set to develop all
aspects of our activities and increase the number of members of the Swedish Church in London.
Page 6

THE SWEDISH CHURCH IN LONDON LIMITED
TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 (CONTINUED)
Financial review
Our nel income before gains (losses) on inveslmenls which includes interesl and dividends is in the column to
the left, with the actual dividend and interest received amounts to the right (in GBP)..
Year
Net profiV{lossl
ot which Investment income:
2024
2023
2022
2021
2020
96,608
111,936)
(15,853)
(84,093)
(180,290)
171.551
141.985
53,732
91,380
102.355
The Net {loss)Iprofil shows that for 2024 we had a profit. whereas for the previous years there has been a deficil.
The deficits in 2020 and 2021, were the lockdown years. However this does show the interest and dividends
we earn from our invested capital that have offset the shortfall from our other income sources to meel our
outgoings. One main Sour￿ of income is our membership income, but numbers have decreased since 2018 from
around 1.300 to 433 in 2024.
The net income after Igains)Aosses on our financial investments for the year 2024 was a gain of £50,736 (2023..
£49.823). Charitable activities brought in £351.909 12023= £309.789) and Other income (our trading subsidiary
Swedish Church Services Ltd.) increased to £176.599 (2023= £160,717) as the Christmas Fair days were
changed and attracted more visitors.
The main drivers that contributed to this were=
1. Increased Christmas market revenue £144.482 vs. £126.799 in 2023 and higher profit £82,875 vs. £62,422 in
2023.
2. Another successful year for the Lucia concerts with revenue £125,189 (2023.. £118.745).
Expenses red￿￿d to £970,654 (2023= £1.059.197). as Maintenan￿ costs were lower and operating income
improved to a profit of £96,608 {2023: loss £11,936)- Donations were £367,203 (2023.. £434,770}. A big thank
you to donors for supporting us.
Our sister charity Swedish Benevolent Trust ISBTI, graciously almost maintained their support for our outreach
activities to £120.000 in 2024 (2023.. £120,000). A heartfelt thank you for this!
Reserves
The current unrestricted rese￿eS consisting of the General fund and Buildings fund amounting to £1,067,540
which represents 13 months of expenditure is within our reserves policy to retain 12 to 24 months of expenditure.
Thora Ohlsson Cultural Fund
The Swedish Church in London has one extemal restricted fund, the Thora Ohlsson Cultural Fund. The Fund
was crealed 2 January 1997 with an original grant of £100,000. The fund had a positive capilal relum in 2024, an
increase of £10,981. However, there were no scholarships made in 2024 {2023= £10,083), as instead they were
made in early 2025. The fund ended the year worth £374.471 (2023= £363,490).
Page 7

THE SWEDISH CHURCH IN LONDON LIMITED
TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 (CONTINUED)
Investment policy and perfomiance
The Trustees have engaged Cazenove Capital Management to manage its quoted inveslmenls on a
discretionary basis. The Trustees elected Cazenove in 2012 after a thorough evaluation of possible managers.
We invest our available capital long term into an ethical fund managed by Cazenove. The Swedish Church does
not leverage its inveslments into funds, nor does it seek inveslment funds which are highly leveraged. No
material shareholdings were held by the Church in any one company. The Trustees consider the value of
investments lo be supt)orted by their undedying assets as appropriale.
In 2017 we started invesling directly in Swedish equities to gain dividends in SEK to help pay for our Christmas
market purchases in Sweden. To reduce investment correlation risk we also moved funds from Cazenove to UK
mid size companies loan noles, equity in Iwo privately held UK companies and a quoted entity investing in U.S.
life insurance. We now have just under half of our invested capital with Cazenove and the other half in these
direct investments.
Details of the investments are given in note 14 to the accounts. The revaluation loss during the year was £45,872
12023.. gain of £61.759) and the inveslment income was £171.55112023'. £141.985).
Investment Risk Mana
ement
Our investments are govemed by investment and treasury policies that are reviewed by the Trustees on a regular
basis. The policies are designed to balance the objective of maximising investment relums againsl the risk.
Detailed risk analysis is given in Note 14 to the financial statements.
The Church manages investment risks by retaining expert advisors and operating an investment policy that
provides for a high degree of diversification of holdings within investment asset classes. All investments were
made in companies listed on a UK stock exchange or incorporated in Ihe UK and therefore all inveslments are
treated as investment assets in the UK. The Church also has other investments which are unquoted and held al
cost in line with its accounting policy. All unquoted investments are reviewed on a quartedy basis and regular
communication with the investment managers is maintained to assess and manage any new risk exposure.
Res
onsible investment lic
The Truslees have an ethical investment policy which precludes material investmenls in businesses producing or
selling arms or weapons. gambling. pomography. tobacco, narcotics or engaged in predatory lending. The
Church is committed to investing its funds in a responsible manner and for the investment portfolio to be
managed in accordance with the Church's own charitable mission and values. This means having regard to best
practice in Environmenlal. Social and Govemance {ESG) issues. The investment managers are expected to
encourage good behaviour in the companies in which they invest and should promote sustainability, good
business ethics, good employment practices and the transition to a low carbon economy.
Fundraising
Following the implementation of the Charilies (Protection and Social Investment Acl 20161, the charitable
company has reviewed its fundraising activities and confinns that it complies with the regulation. The charitable
company did not rnake use of any extemal fundraisers. No complaints were received in respect of ils fundraising
activities.
Events after the reporting period
There have been no significcant events be￿een the year end and the date of approval of these finanacial
slalemenls which would require a change to. or disclosure in. the financial statements.
Statement of disclosure to the auditors
So far as Ihe Trustees are aware:
(a) there is no relevant audit information of which the Company s auditors are unaware. and
Ibl they have taken all the steps that they ought to have taken as trustees in order to make themselves aware of
any relevant audit information and to establish thal the Company s auditors are aware of that information.
Page 8

THE SWEDISH CHURCH IN LONDON LIMITED
TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 (CONTINUED)
Reappointment of auditor
The auditors Shaw Gibbs (Audit) Lirnited are deemed to be reappointed under section 487(2} of the Companies
Act 2006.
The annual report was approved by the Trustees of the Church on 18 May 2025 and signed on its behalf by=
Per Jonsson
Chairman and Trustee
Page 9

THE SWEDISH CHURCH IN LONDON LIMITED
STATEMENT OF TRUSTEES. RESPONSIBILITIES
The Trustees {who are also the directors of The Swedish Church in London Limiled for the purposes of company
law) are responsible for preparing the Trustees, report and the financial statemenls in accordance with applicable
law and regulations.
Company law requires the truslees to prepa￿ financial statements for each financial year. The trustees have
elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting
Practice (United Kingdom Accounting Slandards and applicable lawl. The financial statements are required by
law to give a true and fair view of the state of the affairs of the charitable company and the group and of the
surplus or deficit for that period. In preparing Ihese financial statements the trustees are required lo..
select suitable accounting policies and apply them consistently
obseNe the methods and principles in the Charities SORP
make judgements and estimates that are reasonable and prudent
State whether applicable accounting standards have been followed, subject to any material departures
disclosed and explained in the financial statements
Prepare the financial statements on the going concem basis unless it is inappropriate to assume thal the
charitable company will continue in operation.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the
charitable company's transaclions and disclose wilh reasonable accuracy at any time the financial position of Ihe
charitable company and enable them to ensure that the financial statements comply with the Companies Act
2006. They are also responsible for safeguarding the assets of the charitable company and hen￿ for taking
reasonable sleps for the prevention and detection of fraud and other irregularities.
Approved by the Tnjstees of the Church on 18 May 2025 and signed on its behalf by..
Per Jonsson
Chairman and Trustee
Page 10

THE SWEDISH CHURCH IN LONDON LIMITED
INDEPENDENT AUDrroR'S REPORT TO THE MEMBERS OF
THE SWEDISH CHURCH IN LONDON LIMITED
Opinion
We have audited the financial statements of The Swedish Church in London {'the charitable company,) and its
subsidiary {togelher "the group") for the year ended 31 De￿mber 2024 which comprise the Consolidaled
Statement of Financial Activities, the Consolidated and Company Balance Sheet, the Consolidated Cash Flow
Statement and Noles to the Financial Statements, including significanl 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 A￿pIe￿ Accounting Practice).
In our opinion the financial statements=
give a true and fair view of the state of the group's and charitable companVs affairs as at 31 December 2024
and of ils incoming resources and application of resources. including its income and expenditure. for the year
then ended.,
have been propedy prepared in accordance with United Kingdom Generally Accepted Accounting Practice.,
and
have been prepared in accordance with the requirements of the Charities Act 2011.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) IISAS {UK}) and applicable
law. Our responsibilities under those standards a￿ further described in the auditor responsibilities for the audil of
the financial statements section of our report. We are independent of the group in accordance with the ethical
requirements that are relevant to our audit of the financial stalements in the UK, including ihe FRC'S Ethical
Standard, and we have fulfilled our other ethical responsibililies 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 audiling the financial stalements. we have concluded that the Trustees use of the going concern basis of
accounting in the preparation of the financial statements is appropnate.
Based on the work we have performed, we have not identified any material uncertainties relating lo events or
conditions that, individually or collectively. may cast significant doubt on the charitable company's ability to
continue as a going concem for a period of at least twelve months from when the financial stalements are
authorised for issue.
Our responsibililies and the responsibilities of the Trustees with respect to going concem are described in Ihe
relevant sections of this report.
Other information
The other information comprises the infomiation included in the annual report. other than the financial statements
and our auditor's report thereon. The trustees are responsible for the other infomation. Our opinion on Ihe
financial statements does not cover the other infomiation and. except to the extent othe￿iSe explicitly staled in
our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements. our responsibility is to read the other information and, in
doing so, consider whether the other infomiation is materially inconsistent with the financial statements or our
knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material
inconsistencies or apparent material misstatements, we are required to detemiine whether there is a material
misstatement in the financial statements or a material misstatement of the other information. If, based on the
work we have performed, we conclude that there is a material misstaternent of this other information, we are
required to report that fact.
We have nothing to report in this regard.
Page11

THE SWEDISH CHURCH IN LONDON LIMITED
INDEPENDENT AUDrroR'S REPORT TO THE MEMBERS OF
THE SWEDISH CHURCH IN LONDON LIMITED (CONTINUED)
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 lo you if. in our opinion..
the information given in the Trustees, Report is consistent in any material respect with the financial
statements., or
sufficient accounting records have not been kept- or
the financial slatements are not in agreement with the accounting records-
we have not received all the information and explanations we require for our audit.
Responsibilities of Trustees
As explained more fully in the Statement of Trustees. Rest)onsibilities (set out on page 10}, the trustees (who are
also the directors of the charitable company for the purposes of company law) are responsible for the preparation
of the financial slalements and for being satisfied thal they give a true and fair view. and for such intemal conlrol
as the trustees detemiine 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 statemenls. the trustees are responsible for assessing the charitable company's ability
to continue as a going concem, disclosing, as applicable, matters related lo going concern and using the going
concem basis of accounting unless the tnjstees either intend to liquidate the charitable company or to cease
operations. or have no ￿aliStiC allemalive but to do so.
Auditor responsibilities for the audit of the financial statements
We have been appointed as audilor under section 151 of the Charities Act 2011 and report in accordance with
the Act and relevant regulations made or having effect thereunder.
Our objeclives are to obtain reasonable assurance about whether the financial stalements 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 audil 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 l￿egUlarl11es,
including fraud. The extent to which our procedures are capable ot detecting irregularities, including fraud is
detailed below=
Extent to which the audit was considered capable of detecting irregularities, including fraud
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including
fraud and non-compliance with laws and regulations, was as follows..
the engagement partner ensured that the engagement team collectively had the appropriate competen￿.
capabilities and skills to identify or recognise non-compliance with applicable laws and regulations,.
we assessed Ihe extent of compliance with the laws and regulations identified above through making
enquiries of management and inspecting legal co￿eSpOndence., and
we identified laws and regulations were communicated within the audit team regLJlarly and the team remained
alert lo instances of non-compliance Ihroughout the audit.
We considered the nature of the charilable CoMpan￿S sector and its control environmenl, and reviewed the
charitable company's documentation of their policies and procedures relating to fraud and compliance with laws
and regulations. We also identified the laws and regulations applicable to the charitable company through
discussions with the Trustees and other management. and from our cumulative audit. knowledge and experience
of the charitable company.
Page 12

THE SWEDISH CHURCH IN LONDON LIMITED
INDEPENDENT AUDrroR'S REPORT TO THE MEMBERS OF
THE SWEDISH CHURCH IN LONDON LIMITED (CONTINUED)
We oblained an underslanding of the legal and regulatory framework that the Charitable company operates in,
and identified the key laws and regulations that..
had a direct effect on the detemiination of material amounts and disclosures in the financial statements.
These included the Companies Act 2006. the Charities Act 2011. the Charities SORP, Companies Acl 2006,
UK financial reporting standards as issued by the Financial Reporting Council,. and
do not have a direct effect on the financial statements but compliance with which may be fundamental to the
Charitable company's ability to operate or to avoid a material penalty. These included the Charitable
company's regulatory requirements. employment and tsxation legislations.
We assessed the susceplibility of the charitable companys financial statements to material misslatemenl,
including oblaining an understanding of how fraud might occur, by-
making enquiries of management as to where they considered there was susceptibility lo fraud, their
knowledge of aclual, suspected and alleged fraud. and
considering the internal controls in place to miligate risks of fraud and non-compliance with laws and
regulations.
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures
which included, but were not limited to=
reviewing financial statement disclosures by testing to supporting documentstion lo assess compliance with
provisions of relevant laws and regulations described as having a direct effecl on the financial stalements.,
perforniing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of
material misstatement due to fraud.
enquiring of the Truslee conceming actual and potential litigation and claims. and instances of
non-compliance with laws and regulations- and
reading minutes of Trustee meetings, reviewing intemal audit reports and reviewing correspondence with the
Charities Commission.
There are inherent limitations in our audit procedures described above. The more removed that laws and
regulalions are from financial transaclions. the less likely il is that we would become aware of non-complian￿.
Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations
to enquiry of Ihe Trustees and other management and the inspection of regulatory and legal correspondence, if
any.
Owing to the inherent limitations of an audit. there is an unavoidable risk that we may not have detected some
material misstatements in the financial statements, even though we have propedy planned and perfom)ed our
audit in accordance with auditing standards. For example. the further removed non-compliance with laws and
regulations lirregularitie51 is from the events and transactions reflected in the financial statement5. Ihe less likely
the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit,
there remained a higher risk of non-deteclion of irregularities. as Ihese may involve collusion. forgery. intentional
omissions, misrepresentations, or the override of intemal controls. We are not responsible for preventing
non-compliance and cannot be expected to detect non-compliance with all laws and regulations.
A further description of our responsibilities is available on the Financial Reporting Council's website at..
www.frc.org.uklauditorsresponsibilities. This description forms part of our auditor's report.
Page 13

THE SWEDISH CHURCH IN LONDON LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF
THE SWEDISH CHURCH IN LONDON LIMITED (CONTINUED)
Use of the audit report
This report is made solely lo the charitable company's trustees, as a body. in accordance with Part 4 of the
Charities (Accounts and Records) Regulations 2008. Our audit work has been undertaken so that we might slate
to the charitable company's trustees those matters we are required lo state lo them in an auditors. report and for
no other purpose. To the fullest exlenl permitted by law, we do not accepl or assume responsibility lo anyone
other than Ihe charitable company and the charitable company's trustees as a body. for our audit work. for this
report, or for the opinions we have formed.
Shaw Gibbs (Audit) Limited. Statutory Auditor
Salatin House
19 Cedar Road
Sutton
Surrey
SM2 5DA
18 May 2025
Shaw Gibbs (Audit) Limited is eligible for appointment as auditor of the charity by virtue of its eligibility for
appointment as auditor of a company under section 1212 ofthe Companies Act 2006.
Page 14

THE SWEDISH CHURCH IN LONDON LIMITED
CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31
DECEMBER 2024 (INCLUDING CONSOLIDATED INCOME AND EXPENDITURE
ACCOUNT)
Total
2024
Unrestricted
Restricted
Note
Incorne and Endowments from:
Donations and legacies
Charitable activities
Investment income
Other income
155,320
347,443
45,676
176,599
211,883
4,466
125,875
367,203
351,909
171,551
176.599
Total income
725,038
342,224
1,067,262
Expenditure on:
Raising funds
Charitable activities
(66.946)
1701,354)
1768,300)
{66.9461
(903.708
(970.6541
202,354
(202,354)
Total expenditure
Net incomel{expenditure) before gainsl(losses)
on investments
Gainsllosses on investment assets
(43,262)
(11,911)
139,870
133.9611
96,608
{45,8721
Net incomel{expenditure)
Transfers between funds
(55.173)
12,903
105,909
12.903
50.736
Net movement in funds
(42,270)
93,006
50,736
Reconciliation of funds
Total funds brought fO￿ard
Total funds carried forward
1.699,908
3.124.383
4,824.291
20
1.657,638
3.217,389
4,875.027
Page 15

THE SWEDISH CHURCH IN LONDON LIMITED
CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31
DECEMBER 2024 (CONTINUED) (INCLUDING CONSOLIDATED INCOME AND
EXPENDITURE ACCOUNT)
Total
2023
Unrestricted
Restricted
Note
Incorne and Endowments from:
Donations and legacies
Charitable activities
Investment income
Other income
168,883
298,144
55,200
160,717
265,887
11,645
86,785
434,770
309,789
141,985
160.717
Total income
682,944
364,317
1,047,261
Expenditure on:
Raising funds
Charitable activities
(72.678)
(771,123)
1843,801)
{72.6781
(986.519
(1,059.1971
215,396
(215,396)
Total expenditure
Net incomel{expenditure) before gainsl(losses)
on investments
Gainsllosses on investment assets
(160,857)
(35,356)
148,921
97,115
{11,9361
61.759
Net incomel{expenditure)
Transfers between funds
1196,213)
159,317
246,036
159,317
49.823
Net movement in funds
(36,896)
86,719
49,823
Reconciliation of funds
Total funds brought fO￿ard
Total funds carried forward
1.736,804
3.037,664
4,774.468
20
1.699,908
3.124,383
4,824.291
All of the group's aclivilies derive from conlinuing operations during the above periods.
The funds breakdown for 2023 is shown in note 20.
Page 16

THE SWEDISH CHURCH IN LONDON LIMITED
(REGISTRATION NUMBER: 08809420}
CONSOLIDATED BALANCE SHEET AS AT 31 DECEMBER 2024
2024
2023
Note
Fixed assets
Tangible assets
Investments
13
14
590,098
4.064,311
583,029
4,128.807
4,654,409
4,711,836
Current assets
Stocks
Receivables
Cash at bank and in hand
15
16
17
1.500
32,768
267,643
301,911
181.293)
4.126
38,219
160,510
202,855
{90.4001
Creditors: Amounts falling due within one year
Net Current assets
18
220,618
112,455
Net assets
4.875,027
4,824.291
Funds of the group:
Restricted income funds
Restricted
20
3,217,389
3,124,383
Unrestricted income funds
Unrestricted
20
1.657,638
1,699.908
Total funds
20
4.875,027
4,824,291
For the financial year ended 31 March 2024 the charitable 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 charitable company to obtain an audit of its accounts for the year in question
in accordance with section 476 of the Companies Act 2006. However. an audit was required in accordance with
seclion 151 of the Charilies Act 2011.
The Trustees, who are regarded directors for the purpose of the Companies Act 2006, acknowledge their
responsibility for complying with the requirements of the Act with respect to accounting records and for the
preparation of the accounts. These financial statements have been prepared in accordance with the provisions
applicable to companies subject to the small companies regime.
The financial statements were approved by the Trustees, and authorised for issue on 18 May 2025 and signed on
their behalf by=
Per Jonsson
Chairman and Trustee
Page 17

THE SWEDISH CHURCH IN LONDON LIMITED
(REGISTRATION NUMBER: 08809420}
BALANCE SHEET AS AT 31 DECEMBER 2024
2024
2023
Note
Fixed assets
Tangible assets
Investments
13
14
590,098
4.064,411
583,029
4,128.907
4,654,509
4,711,936
Current assets
Receivables
Cash at bank and in hand
16
17
29,087
157,606
186,693
158.106)
22.587
88,068
110,655
{68.0801
Creditors: Amounts falling due within one year
Net Current assets
18
128,587
42,575
Net assets
4.783,096
4,754.511
Funds of Ihe Church:
Restricted income funds
Restricted
20
3.217.389
3,124.383
Unreslricted income funds
Unrestricted
20
1.565,707
1,630.128
Total funds
20
4,783,096
4,754,511
As permitted by Section 408 Companies Act 2006. the charitable company has nol presented ils Stalement of
Financial Activities (also known as The Profit & Loss Account under Company Lawl. The charitable company
made a surplus for the financial year of £28.585 {2023= loss £6.385)
For the financial year ended 31 March 2024 the charitable company was entitled to exemption from audit under
seclion 144 of the Companies Act 2006 relaling to small companies.
The rnernbers have not required the charitable company to obtain an audit of its accounts for the year in question
in accordance with section 476 of the Companies Act 2006. However, an audit was required in accordance with
section 138 of the Charilies Act 2011.
The Trustees, who are regarded directors for the purpose of the Companies Act 2006, acknowledge their
responsibility for complying with the requirements of the Act with respect to accounting records and for the
preparation of the accounts. These financial statements have been prepared in accordance with the provisions
applicable to companies subject lo the srnall companies regime.
The financial statements were approved by the Trustees, and authorised for issue on 18 May 2025 and signed on
their behalf by=
Per Jonsson
Chairman and Trustee
Page 18

THE SWEDISH CHURCH IN LONDON LIMITED
CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2024
2024
2023
Note
Cash flows from operating activities
Net cash income
50,736
49.823
Cash flows from investing activities
Interest receivable and similar income
Purchase of investments
Sale of inveslments
Purchase of tangible fixed assets
171,551
(2.188,107)
2.206,731
127,203)
141,985
(327.6831
405.847
124,669
Net cash flows from investing activities
Adjustments to cash flows from nonrycash items
Depreciation
Investment income
Revaluation of investments
162,972
95.480
13
20,134
(171,551)
45,872
17,215
1141,9851
(61.7591
(136.7061
154,809)
Reconciliation of Net Movement in Funds to Nel Cash Flow
from Operating Activities
Decrease in stocks
Decrease in debtors
Decrease in creditors
15
16
18
2,626
5,451
9.107
1,126
49.391
19.928
Net cash flows from operating activities
155,839)
106.117
Net increaselldecrease) in cash and cash equivalents
107,133
(10,637
Analysis of Cash and Cash Equivalents
Cash and short-term deposits
Cash movement
267,643
(107,133)
160,510
160.510
10,637
171.147
Cash and cash equivalents at 1 January
Cash and cash equivalents at 31 December
267,643
160,510
All of the cash flows are deTived from conlinuing operations during the above two periods.
Page 19

THE SWEDISH CHURCH IN LONDON LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
1 Legal Status
The Church is limited by guarantee, incorporated in England, and consequenlly does not have share capilal.
Each of the Trustees is liable to contribute an amount not exceeding £1 towards the assets of the Church in the
event of liquidalion. The address of its registered office and principal place of activity is detailed on page 2.
2 Accounting policies
Basis of preparation
The financial stalements have been prepared in accordan￿ with the Charities.. Slatemenl of Recommended
Practice {applicable to charities preparing their accounts in accordance wilh the Financial Reporting Standard
applicable in the UK and Republic of Ireland (FRS 1021} (issued in October 20191- (Charities SORP IFRS 102}),
the Financial Reporting Stsndard applicable in the UK and Republic of Ireland (FRS 102) and Ihe Companies Act
2006.
The Swedish Church in London meets the definition of a public benefit entity under FRS 102. Assets and
liabilities are inilially recognised at historical cost or transaction value unless otherwise staled in the relevant
accounting policy notes.
The funclional currency of the Church is conSide￿d to be pound sterling (£) because that is the currency of Ihe
primary economic environment in which the Church operales. The financial statements are presented in pound
sleding (£1.
Basis of consolidation
The financial slalements consolidate the results of the charity and its wholly owned subsidiary. Swedish Church
Services Limited. on a line-by-line basis. to produce the Group financial statements. The consolidated entity is
referred to as 'the Group,. The Charity has laken advantsge of the exemption in section 408 of the Companies
Act from disclosing its individual statement of financial activities.
Going concern
The charitable company s level of free reserves available at the year end. were considered adequate resources
to continue in operational existence for the foreseeable future. However, the Covid-19 pandemic caused the
Trustees lo review the posltion5 of the Church and its subsidiary Swedish Church Services Limited. Revised
budgets were prepared and adopted and although reduced revenues were expected there were also reductions
in costs. The Trustees confirm that there are no material uncertainties about the Group's ability to continue as a
going concern. Accordingly, the financial statements have been prepared on a going concern basis.
Income
All income is recognised once the church has entitlement to the income. it is probable that the income will be
received and the amount of the income receivable can be measured reliably.
Income. including the contributions from The Church of Sweden via SKUT, is accounted for in the year in which it
is receivable. Donalions are included when received. Legacies are included when notified and Ihe probate has
been granted. Gifts and legacies of assets are initially included at their estimated value.
Special events income was generated by the Christmas fair. and Sankta Lucia carol seNice. Other income was
generated by various parish activiiies including weddings held at the Swedish Church. These incoming resources
are all recognised in the consolidated financial statements on a receivable basis.
Investment income is accounted for on a receivable basis and relates to and relates to dividend income from
listed investments and interest in respect of bank deposits.
Revenue grants are accounted for on a receivable basis.
Page 20

THE SWEDISH CHURCH IN LONDON LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024 (CONTINUED)
2 Accounting policies (continued)
Donated services and facilities
Donated professional setvices and donated facilities are recognised as income when the charity has control over
the item, any conditions associated with the donaled item have been met. the receipt of economic benefit from
the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance
with the Charities SORP (FRS 102).
On receipt, donated professional services and donated facilities are recognised on the basis of the value of the
gift to the charity which is the amount the charity would have been willing to pay lo obtain serVI￿S or facilities of
equivalent economic benefit on the open market- a corresponding amount is then recognised in expenditure in
the period of receipt.
Interest receivables
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the
charity., this is normally upon notification of the interest paid or payable by the Bank.
Expenditure
Expenditure is recognised when there is a legal or constructive obligation committing the Group to that
expenditure, it is probable that settlement will be required and the amount of the obligation can be measured
reliably. Expenditure is classified under the following activity headings:
Raisin
Funds
Raising funds comprise of costs incurred in generating donation and legacy income, including fundraising staff
costs and fundraising marketing costs.
Charitable ex
nditure
Charitable expenditure includes direct costs incurred trjwards achieving the Church's charitable objectives.
Grant ex
enditure
Grant {SKUTI is recognised in the year of award and when communicated to recipient in line with the SORP.
Direct costs, including directly attributable salaries, are allocaled on an actual basis to each expendilure heading.
Governan￿ and Su
ort costs
Governance costs relate to the management of the assets. organisational administration and compliance with
constitutional and statutory requirements. Support costs are costs incurred which are not directly attribulable to
our charitable aclivities and objects. G0Veman￿ and support costs have been allocated to expenditure headings
on the basis of time spent.
Investment management fees
Raising funds cosl comprises fees charged by the investment managers for managing Ihe investment portfolio
and bank charges.
Charitable activities
Charitable expenditure represents costs directly incurred for the furtherance of the Church's objects. Costs are
allocated on a specific basis, according to fvnction. wilh the exception of staff and some office overhead costs
which are allocated based on activity levels.
Other expendilure
Where costs cannot be directly attributed to categories. they have been allocated be￿een parish activities,
special evenls. support cosls and managemenl and administration proportional lo staff time spenl in each area.
Page 21

THE SWEDISH CHURCH IN LONDON LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024 (CONTINUED)
2 Accounting policies (continued)
Governance costs
Governance costs comprise costs of running the Church as an organisation and is allocated in line with the
support costs.
Tangible fixed assets
Individual fixed assets costing £1,000 or more are capitalised at cost.
Depreciation and amortisation
The freehold Church building has been written down lo a nominal value.
The other tangible fixed assets are written off over their estimated usefijl economic lives on a straight line basis at
the following rales..
Asset class
Depreciation method and rate
Freehold buildings
Fittings, furniture and organ
Computers
Computer licenses
Motor vehicles
Boiler equipment
Kitchen equipment
33.3Yo
10/
25Y.
10/
10/0
Receivables
Trade and other receivables are recognised at the settlement amount due after any trade discount offered.
Prepayments are valued at the amounl prepaid net of any trade discounts due.
Cash and cash equivalents
Cash and cash equivalenls comprise cash on hand and other short-term highly liquid investments that are readily
convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Payables
Payables and provisions are recognised where the charity has a present obligation resulting from a past event
that will probably resull in the transfer of funds to a third party and the amount due to settle the obligation can be
measured or estimated reliably. Payables and provisions are nomially recognised at their settlement amount after
allowing for any trade discounts due.
Foreign exchange
Income and expenditure is translated at the rate ruling on the date of the transaction concemed. Assets and
liabilities at the year end are translated at the rate mling at the balance sheet date.
Fund structure
Unrestricted income funds are general funds that are available for use at the Truslees's discretion in furtherance
of the objectives of the group.
Designated funds comprise funds that have been set aside at the discretion of the trustees for specific purposes.
The purpose and use of the designated unrestricted funds are set out in the notes to the financial statements.
Page 22

THE SWEDISH CHURCH IN LONDON LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024 (CONTINUED)
2 Accounting policies (continued)
Restricted funds represent income given for particular purposes within the objects of the charity. These may be
income funds that are expendable at the discretion of the trustees in furtherance of a partrcular aspect of the
objects of the charity, or they may be capital funds where the assets are required to be invested or retained for
actual use rather than expended.
Endowment funds represent capital assets required to be held on a long tem basis for specific charitable
purposes within the objects of the charity. Income generated from the assets can be expended in accordance
with the donors, wishes.
Transfers between funds in the Statement of Financial Activities are required where Reslricled Funds have been
expended or have. for other specific reasons. ceased to be restricted.
Pensions
The Church operates a defined contribulion pensions scheme providing benefits for employees addilional to
those from the state. The pension cost charge represents contributions payable by the Church to the fund in
respect of the year.
Financial instruments
Fixed Asset Investments
Quoted investments are a form of basic financial instrument and are initially recognised at transaction value and
subsequently measured at fair value as al the balance sheet date using the closing market bid pri￿.
The stalement of financial activities includes the net unrealised gains and losses arising on revaluation and
realised gains and losses arising from disposals throughout the year. Realised gains and losses are calculated as
the difference between sale proceeds and the opening carying value or the purchase value if acquired in the
financial year. Unrealised gains and losses are calculated as the difference be￿een the fair value at Ihe year end
and the opening carrying value or purchase value if acquired in the financial year.
Unquoted investments are a form of basic financial instrument and are measured cost less impairment, the
impairmentloss is measured as the differen￿ between an asset's carying amount and best estimate, which is
an approximation of the amount that the Group would receive for the asset if it were to be sold at the Balance
sheet date.
Investments in subsidiaries are stated at cost. less provision for impaimient within the Church's financial
slalements.
3 Income from donations and legacies
Unrestricted
funds
Total
2024
Total
2023
General
Restricted
Donations and legacies.,
Donations from individuals
155,320
211,883
367,203
434,770
155.320
211,883
367,203
434.770
Donations amounting to £196,217 received from Church of Sweden Abroad (SKUT) were restricted.
Page 23

THE SWEDISH CHURCH IN LONDON LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024 (CONTINUED)
4 Income from charitable activities
Unrestricted
funds
Total
2024
Total
2023
General
Restricted
Special events
Grants
227,443
120,000
4.466
231,909
120,000
189,789
120,000
347,443
4.466
351,909
309,789
Income from charitable activities totalling £298.144 was unrestricted in the prior year.
5 Investment income
Unrestricted
funds
Total
2024
Total
2023
General
Restricted
Unlisted investments interest
Listed investment dividends
19,113
26.563
50,139
75,736
69,252
102,299
54,971
87.014
45,676
125,875
171,551
141,985
Investment income amounting to £55.200 was unrestricted in the prior year.
6 Other income
Unrestricted
funds
Total
2024
Total
2023
General
Swedish Church servI￿s Limited
Rental income
144,482
32,117
144,482
32,117
126,799
33.918
176,599
176,599
160,717
Other income for the prior year was unre51ricted.
Page 24

THE SWEDISH CHURCH IN LONDON LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024 (CONTINUED)
7 Expenditure on raising funds
a) Costs of trading activities:
Unrestricted
funds
Total
2024
Total
2023
General
Trading subsidiary costs
56,725
56,725
61.091
56,725
56,725
61,091
b) Investment management costs:
Unrestricted
funds
Total
2024
Total
2023
General
Investment management charges
Allocaled support costs
5.339
3.013
5.339
3.013
4.686
6.165
8.352
8,352
10.851
c) Other costs of generating donations and legacies
Unrestricted
funds
General
Total
2024
Total
2023
Other direct costs
1,869
1,869
736
8 Expenditure on charitsble activities
Activity
undertaken
directly
Grant funding
of activity
2024
2023
Parish aclivilies
Special events
Grant
621.545
105.091
621,545
105,091
173,536
700.841
114.259
173,969
173,536
726.636
173,536
900,172
989.069
Included in the expenditure analysed above are govemance costs of £8,350 (2023 - £8,000) which relate directly
to charitable aclivilies.
Page 25

THE SWEDISH CHURCH IN LONDON LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024 (CONTINUED)
9 Analysis of governance and support costs
Governance costs
Unrestricled
funds
Total
2024
Total
2023
General
Audit fees
Audit of the financial statements
Other fees paid to auditors
5,900
2.450
5,900
2,450
5.700
2,300
8.350
8.350
8.000
10 Auditors. remuneration
2024
2023
Audit of the financial stalements
5.900
5.700
Other fees to auditors
The audiling of accounts of any associate of the charity
3.000
2.550
11 Trustees remuneration and expenses
The Rector, who is also a TTUStee. received remuneration totalling £66,682 {2023= £62.4001 during the financial
year. This position was held by two people in 2024.
The Rector was reimbursed £1,179 (2023.. £846) of expenses incurred for the Church. One other Trustee was
reimbursed of expenses during the year £62 {2023'. £Nil).
12 Staff costs
The aggregate payroll costs were as follows:
2024
2023
Staff costs during the year were:
Wages and salaries
Social security costs
Pension costs
453,005
46,545
17,381
452,547
49,012
17,155
516,931
518,714
The average number of employees during the year was:
2024
2023
Staff - support for charitable activities
Staff - support for charitable activities. paid by SKUT
12
12
Page 26

THE SWEDISH CHURCH IN LONDON LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024 (CONTINUED)
12 Staff costs (continued)
No employee received emoluments of more than £60.000 during the year.
The key management personnel of the charitable company is considered to be the Trustee and the Rector. who
is a Trustee and an employee of Swedish Church Abroad (SKUT). Details of remuneration disclosed in Nole. 11.
13 Tangible fixed assets
Group and church
Freehold land
and buildings
Fixture &
Fittings
Computers
and licenses
Total
Cost
At 1 January 2024
Additions
798,349
763,475
27,203
41,962
1,603,786
27.203
At 31 December 2024
798,349
790,678
41,962
1,630,989
Depreciation
At 1 January 2024
Charge for the year
343.016
12,565
355,581
637.221
7,282
644,503
40.520
287
1,020,757
20,134
1,040,891
At 31 December 2024
40.807
Net book value
At 31 December 2024
442,768
146,175
1.155
590,098
At 31 December 2023
455,333
126,254
1,442
583,029
Freehold property
The propety at 6 Harcourt Street. London. WIH 4AG was acquired by the predecessor charity. Ulrika Eleonora
Swedish Parish in London, at an amount immaterial to the charity and as such the original cosl is estimated lo be
nil. Subsequent capital additions have been included at cost and as at the year end have a net book value of
£442,768 {2023.' £445,333). The insurance value of the property at the year end was £16,585,419 12023..
£16,585.4191.
Page 27

THE SWEDISH CHURCH IN LONDON LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024 (CONTINUED)
14 Fixed asset investments
2024
2023
Group
Quoted investments at market value
Unquoted inveslments at market value
3,153,058
911,253
3,052,256
1,076.551
4,064,311
4,128,807
2024
2023
Church
Shares in group undertakings and participating interests
Quoted investments at market value
Unquoted investments at market value
100
3,153,058
911,253
100
3,052,256
1,076,551
4,064,411
4,128.907
All quoted investments are carried at their fair value equivalent to the market value. using the bid price. Unquoted
investments are held at historical cost less any impaim)ent as reviewed and decided by Ihe Truslees.
Fixed asset investments are represented by:
2024
2023
Quoted Pooled Inveslment Vehicles
Unquoled privale equity investments
Cash held for quoted investment purposes
Insuran￿ policies held under quoted investments
1.793.200
911.253
814.669
545,189
4,064,311
1.759,511
1.076,551
787,365
505,380
4,128,807
The fair value of each class of quoted investments comprise of:
2024
2023
temative funds
Mulli-Asset funds
Cash
1,793,200
814.669
545,189
3,153,058
759,511
787,365
503,380
2.050,256
Insuran
The Church has no material investment holdings of any of the unlisted company investments.
Page 28

THE SWEDISH CHURCH IN LONDON LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024 (CONTINUED)
14 Fixed asset investments (continued)
Quoted & Unquoted investments
Quoted
investments
Unquoted
investments
Total
Valuation
At 1 January 2024
Additions
Disposals
Net investment gains
3,052,256
1,888,107
{1,906,731)
119,426
3.153.058
1,076,551
4,128,807
300,000
2,188,107
(300,0001 {2,206,7311
{165.2981
{45,8721
911,253
4,064,311
At 31 December 2024
Net book value
At 31 December 2024
3,153,058
911,253
4,064,311
At 31 December 2023
3.052,256
1,076,551
4,128,807
The historical cost of the quoted investments al 31 De￿mber 2024 was £2,724,66312023'. £2,804,751).
Unquoled investmenl at historical cost at Ihe current and previous year end comprises the following..
Private equity investments amounting to £255.152 {2023= £255,152) and other investments (Loan notes)
amounling to £700.000 (2023.. £700,000).
Investment Management & Risks
Quoted investmenls
Quoted invesments are mainly made up of investment in equities and fixed interest securities which are all traded
in quoted public markels. primarily the London Stock Exchange. These investrllents are generally held under
pooled investment vehicles including common investment funds, unit tnjsts and well established open-ended
investment companies. Asset sales and purchases are recognised at the date of trade at cost (that is their
transaction value). The significance of financial instruments to the ongoing financial sustainability of the Church is
considered in the financial review and investment policy and perfomiance sections of the Trustees, Annual
Report. The main risk to the Church from financial instruments lies in the combination of uncertain investment
markets and volatility in yield.
The default rate on fixed interest securities due to corporate failures is expected to improve. The high current
demand for high quality corporate bond and govemment stock continues to depress Ihe yield.
Liquidity risk is anticipated to be low as all assets are traded and the commitment to intervention by central banks
and market regulators has continued lo provide for ordedy trading in the markets and so their ability to buy and
sell quoted equities and stock is anticipated to continue. The Church's investments are mainly traded in markets
with good liquidity and high trading volumes. The Church has no material investment holdings in markets subject
to exchange controls or trading restrictions.
uoled investments
Unquoled investments comprise of investrnents in UK registered companies.The main risk Ihe Church is exposed
to with unquoted investments is credit risk. Credit risk is managed in line with the Church's investment policies as
well an active Trustee who is heavily engaged in managing and monitoring the investment activities for Ihe
Church. Credit risk is managed through regular communication with the representatives of these unlisted
companies. These representalives or investment managers are very active with strong financial expertise and
commercial background.
Page 29

THE SWEDISH CHURCH IN LONDON LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024 (CONTINUED)
14 Fixed asset investments (continued)
Investment in subsidiary company
Subsidiary
company
Cost
At 1 January 2024
100
At 31 December 2024
100
Net book value
At 31 December 2024
100
At 31 December 2023
100
Subsidiary undertaking
The Swedish Church in London has a wholly-owned trading subsidiary company, Swedish Church Services
Limited. The subsidiary undertaking has a share capital of £100. The registered office of Ihe company is 6
Harcourt Street, London W1H 4AG.
Details of undertaking
Details of the investments in which the Church holds 200kn or more of the nominal value of any class of share
capital are as follows..
Country of
incorporation
Proportion of voting rights
and shares held
Undertaking
Holding
2024
2023
Swedish Church servI￿s
Limited
England & Wales
Ordinary
Shares
100/0
100/0
Page 30

THE SWEDISH CHURCH IN LONDON LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024 (CONTINUED)
15 Stock
Group
2023
Church
2024
2024
2023
G¢x)ds for resale
1,500
4.126
16 Receivables
2024
Group
2023
Church
2023
2024
Trade receivables
Other receivables
Amount due from subsidiary company
Prepayments
15,578
10,614
15,632
11,450
10,614
11,897
6,576
11,450
6.576
11.137
11.137
32,768
38,219
29,087
22,587
17 Cash and cash equivalents
2024
Group
2023
Chari
202
2023
Cash at bank
267.643
160,510
157,606
88.068
18 Payables: amounts falling due within one year
2024
Group
2023
Chur¢h
2024
2023
Trade payables
Amount owed to subsidiary
company
Other taxation and social security
Other payables
Accruals
30.685
45,633
29,945
37.766
3,004
{1)
2,773
24.538
19,747
15,152
15.709
15,056
2,773
26,938
15,152
13,009
81,293
90,400
58,106
68,080
19 Pension and other schemes
Defined conlribution pension scheme
The group operates a defined contribution pension scheme. The pension cost charge for the year represents
conlributions payable by the group to the scheme and amounted to £17,381 (2023.. £17,155). Contributions
totalling £14612023= £2,773) were payable to the scheme at the end of the year and are included in payables.
Page 31

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THE SWEDISH CHURCH IN LONDON LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024 (CONTINUED)
21 Analysis of net assets between funds
Group
Unrestricted
funds
Restricted
funds
Totsl funds
General
Restricted
31 Dec 24
Tangible fixed assets
Fixed asset investments
Current assets
Current liabilities
590,098
846,922
301,911
81,293
590,098
4,064.311
301,911
81.293
3,217,389
Total net assets
1,657,638
3,217,389
4,875,027
Unrestricted
funds
Restricted
funds
Total funds
General
Restricted
31 Dec 23
Tangible fixed assets
Fixed asset investments
Current assets
Current liabilities
583,029
1.004.424
202,855
{90,400)
583,029
4,128,807
202.855
90.400
3.124,383
Total net assets
1.699,908
3.124,383
4,824,291
Charity
Unrestricted
funds
General
Total funds at
31 December
2024
Restricted
funds
Tangible fixed assets
Fixed asset investments
Current assets
Current liabilities
590,098
847,022
186,693
(58,106)
590,098
4,064.411
186.693
58.106
3.217.389
Total net assets
1.565,707
3.217,389
4,783,096
Total funds at
31 December
2023
Unrestricted
funds
General
Restricted
funds
Tangible fixed assets
Fixed asset investments
Current assets
Current liabilities
583,029
1,004,524
110,655
{68,080)
583,029
4,128,907
110.655
68,080
3.124,383
Total net assets
1.630,128
3.124,383
4,754,511
Page 38

THE SWEDISH CHURCH IN LONDON LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024 (CONTINUED)
22 Related party transactions
Group
Details of income from related parties are disdosed in the Trustees. Report
The Swedish Church Abroad {SKUT) is the goveming body of the Swedish Church in London. SKUT gives
instruclion to the Reclor on matters regarding Evangelical Lutheran Church procedures and related issues.
During the year, 3 {2023.' 3) full time employees We￿ paid directly by the Church and then reimbursed by SKUT.
DLJring the year, grants totalling £196.217 {2022= £187,000) were paid by SKUT to the charity.
There were no other related paty transactions in the year.
23 Charitable Status
The entity is a registered charity (no. 1155762) and accordingly, no liability to taxation arises on the year lo the
extent that income and gains are applied to the charitable companvs charitable objects.
24 Events after the reporting period
There have been no significcant events be￿een the year end and the date of approval of these finanacial
slalemenls which would require a change to. or disclosure in. the financial statements.
Page 39