Charfty registratlon number 1168717 (England and Wales>
ST. CLEMENT DANES CHURCH FUND
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

ST. CLEMENT DANES CHURCH FUND
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Air Vice-marshal Al Gillespie - Chairman
Mrs D Palman
Mrs C Ople
Prof M Russell-weslhead
The Venerable (Air Vice Marshal) G Legood
Group Caplain John Helheringlon
Group Captain Jon Hough
Appolnted November 2023
Prlnclpal Officers
Flight Lieulenanl Elli8 Hinks- Secretary
Flight Lieutenant Dave France - Treasurer
Charlty number
1168717
Reglslered off1¢6
Sl. Clement Oanes Church
The Strand
WC2R 1DH
Audltor
BK Plus Audit Limited
Oakingham House
Frederick Place
Hlgh Wycombe
HP11 1JU
Bank8rs
Holts Mililary Banking
The Royal Bank of Scotland plc
Lawrle House
Victoria Road
Farnborough
GU14 7NR
Investment Managers
Ralhbones Wealth & Ir)veslm8nl Management
30 Gresham Street
London
EC2V 7QN

ST. CLEMENT DANES CHURCH FUND
CONTENTS
Page
Truste8s' report
Independent audrtor's report
Slalemenl of financial activities
10-11
Balance sheet
12
Notes lo the financial statements
13-23

ST. CLEMENT DANES CHURCH FUND
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 MARCH 2024
The Trusle8s present their report and the audited financial slatemenls for Ihe year ended 31 March 2024,
The financial statements have been prepared in accordance with the accounling pollcies sat out in note 110 thé
financial sla18menls and comply with the Fund's charitable scheme, applicable law and Ihe requiremenls of the
Declaration of Tnjst dated 12 July 1956, the Slalement of Recomm8nd8d Praclice appliG9bl8 to charities
preparing Ihelr accounts in accordance with the Financial Reporting Standard applicable In Ihe UK Republlc
of Iraland issued in July 2014.
History
Sl Clement Danas Church was destroyed by fire in May 1941 and rebuilt, largely by public subscription, In 1958.
Thé church was re-consecraled on 19 October 1958 as the Central Church of the Royal Air Force.
The Dlocese of London delegaled authority lo the Alr CoyncS1 (now Ihe Air Force Board) to maké use ol the
Church, al no fee to the Air Council, subject lo the agreement that Ihe Air Council shall be wholly responsible for
th8 repalr and malnlenance and insurance of thè Church (Including the curtilage IhereoQ and Ils fittlngs and
Jnlenls and performance of seNice8 and CA8remonies therein.,
Legal Status
The Sl Clement Danes Fund. registered charity number 250350 was superseded by CIO n8med Sl Clement
Danes Church Fund {'Ihe Fund,), registered charliy number 1168717 on 1 Aprll 2018. The charity remalns
gov8rn8d under th8 lemis of the following documenls:
Agreemenl made be￿een the London Diocesan Fund and Ihe Air Council dated 20 October 1958,.
The D8claralion of Tnjsl dated 12 July 1956 and Ihe Charity Commission Scheme daled 27 May 1994
as amended 1997, 1998, 2004, 2006 and 2016.
Govérnance
The Fund Scheme determines that the Trustee Body cnnslsls of ex-offiao trustees and up to eight Co-opted
Iruslees. The two ex-offlcio Iruslees at Ihe lime of Ihese annual aCC￿unIS held the followlng positions..
Chaplain-ln-chief (RAF)
Chairman of Ihe Friends of St Clement Danes (temporarily gapped)
The Fund Scheme requires Trustees lo meet al least twice per year wilh e quorum b8ing achleved wllh thre8
members. An independent investment advtser allends meetings lo provide Truslees wilh the specialist
information Ih8y require lo judge past Portfolio performance and lo plan lulura investment slralegy. The
Trustees are also supported by the Chaplalncy Councll, which provides Ihe slru¢lure and gov8rnance for th8
day-to4lay running of the Church.
Meelings were ch8ired Ihroughoul the financial year In queslion by ihe Chalrman, Air Vice Marshal Al Gillesple,
lo disciiss the strategic direclion of tha maintenance and inyrovemenl of Ihe fabric and facilities of the Church
Including: investment performance. Ihe manag8ment of risk: fundraislng: and cxjmprehenslve updates from
Church management with regards lo mallers of the moment. In addition. wh6r8 appropriate. mallets are also
dealt with by Trustees ex-commitlee to ensure conlinuity of governance.
The Trustees have constituted a Flnance Committee and an Estate Commlllee for whlch they have set clear
lerms of reference and from which Ihey receive regul8r reports on their activilies.
The Flnance Commlttee
Trustees d61egale the oversight of all finan￿al op8ralions and for ensuting the Fund's short and long-lem
wability lo Ihe Finance Committoe. The Finance Commtttee meels at least biannually lo implement the financlal
slralegy of the Fund and lo oversee the menagement, investm8nl and disbursement of this strategy within the
conslilution of the Fund.

ST. CLEMENT DANES CHURCH FUND
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Thè Estata Commlttee
The Church, listed Grade1 by Historic England. was rebLJlll In 1682 to a design by Sir Chrlslophar Wr8n with the
steepl8 added in 1719 by James Gibb.
In order to meel the obligatlons sel by Ihe Dloces8 of London. the Twstees delegate tha oversight of Ihe repalr,
m8ln16nance, Improvement, health & safety and other statutory compliance of the Church Including Ils curtllage
lo the Eslale Committee. 11 achieves this by commissioning quinquennial inspeclions and other suNeys by
approprlale Independent professlonal ￿nsUltanIS lo inform and priorillse proactiv6 planned malntenance and
repair. This process also helps idenlify slruclural or operalional defidenclés allowing more focused financial
budgeting. An example being the Tru51ees decision to obtain advice, quolalion5 and Faculty consent for taking
down and rebuilding the stéeplé to ramedy defects In Ihe existing conslruclion and miligale further damaga and
health & safety risks. With fundlng secured in April 2024. this project Is now underway ￿th completion
anlicipaled by Chrislmas 2025. There may also be sufficienl finds lo make urgent repairs lo the curtilaga and Ihe
Iruslees have invited lenders for thls work to polenlially be completed concurrence wlh the repairs to the splre.
Th8 Truslees have future plans for Improving the facililies of Ihe Church by excavating and expanding the Crypt
at th6 easlem end subject to the necessary approvals and funding. A workshop lo develop the fea51t￿lIty and
brief was held in Dec8mber 2022 faci1Slaled by ihe Prince's Foundation. Thls followed invasive Internal and
external investigation works carried out under Facully wlh professlonal supeNision and a walchlng brief by the
Museum of London Archaeologlcal Servlc8 to assess Ihe vlabilily of Ihe projecl. The Truslees have be8n
working closely with Weslmlnsler City Counal and the Northbank Business Improvement Dislricl (BID) Project
Team Involved with the pedeslrianisation anrj Iraffic management changes lo the Aldwychlslrand area of which
Ihe Church forms part.
The Estate Committee meet at leasl biannualty and as required where major projects are proposed.
Connected Charltles
Induction and Tralnlng of Trustees
All new Trustees recelve an Inducllon pack that covers the Chariiy Commission's requlremenls (Includlng annual
reports & finanaal slalements. minutes of meelings and slralegic developmenubusiness plans). Twslees are
invited lo allend trainlng cours8s and, as a minimum. are recommended lo allend the Trustee Tralnlng Course.
The course covers the following subjécts.,
What Is Involved in good governance in relalion lo Trustee responslbllllies,.
The role of Trustees 8nd Ihelr duties.
Information needs of Trustees;
Underslanding charily financo;
Relationshlp bètween Trustees and Ihe Chalr.
Futlher Iruslee Iraining is provided as required, on an on-golng basis.
Statement of Rlsk
The Trustees review Ihe major risks lacing the Fund as part ol Ihe annual busSness plannlng process. The
Truslees continue to work lo idenlify si9nificant risks to the Fund and to implemenl prorEdures to ￿th miligale
rlsk and to minimise polenllal impa¢t should risks materialise.
Top 3 rlsks ara..
l. Lack of available funding lo complete required maintenanc£ of Ihe Church whilst maintaining the longer-
lemi future of the Fund. Mltlgatlon - Trustees review capital requiremenls and obtain exlemal advice lo
ensure appropriate fundraising strategy employed as necessary. Sufficient reseNes agreed and
maintained wtlhin Fund lo ensure wre expendilure requirements continue lo be athieved. Engagement
wilh Ihe Royal Air Force where safety-crilical works are required will continue as nécéssary.

ST. CLEMENT DANES CHURCH FUND
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
2, In¢nme Is inadequate for regular commilmenls. Mltlgatlon - Scwllny of budget by Finance Commltle8 31
least biannually lo identify potential income shortfalls & adjust accordingly. Fixed agenda item for
Tw51ees' Meèllng. Raviaw of Inveslmeni performance by Finance Commitlee and Independenl
Financial Advisor annually. Engagemenl wlh the Royal Alr Forts to réviéw th8 governan￿ structure and
potential grants to support the day-lo￿aY costs of running the Church
3. Loss of Trusleestrruslee Board lacking in appropriale expertise. Mltlgallon Tnjslee induclion and
ongoing training. Review of trustee rolalion and SUeLésslon planning. Competence framework for
Commillee and Board.
The Trustees are sallsfied Ihat the arrangements for managing these risks are adequate and sublecl to
sufficiènlly rigorous monitoring and control.
The Fund operates systems of Internal control whith are deslgned lo provide reasonable assurance against
material misstalemenl or loss. They include:
An annual operaling budget which is approved and revlewed by th8 Trustees;
Regular consideration by the Trustees of financial results against Ihe budget and olher Indicators;
Regular consideration by the Trustees of Inveslm8nl Management results againsl benchmarks..
Delegation of day-loday management authority and segregat￿n of duties.
Statement of Publlc Benefit
Sl Clement Danes provides a benefit to the public, Ihe Royal Air Force p8rsonnel, families and veterans wilh the
necessary spiritual and pastoral wellbelng to carry oul Ihe Royal Air Force rA)ntribulion lo the Defence ol the
United Kingdom and ils interests.
Sl Clement Danes promotes military eff￿lencY by underpinning esprit de ￿rpS and foslering the character, spiril
and allllude requlred lo fac8 challenges and dang8r associaled with mi1118ry S8NiC8. As a result, Ihe Fund
derlves a benefit lo the general public In helping lo provlde personn81 who are molivated. have hlgh mor816 and
are willing lo seNe the needs of their country and that of ils public. al all limes.
St Clemenl Dane8 is a nallonal Memorial of Remembrance, houslng the unlque handwrillen Books of
Remembrance whlch record Ihe names of all service personnel who have paid the supreme sacrifice since the
formallon of The Royal FFying Corps In 1912. These books are on publ1¢ dlsplay for all to vlew and pay thelr
r8SP8c18 to Ihe fallen.
As a pr8mSar example of a Grade I listed Sir Chrislopher Wren Church, the church is open every day except
Bank Holidays, lo enable Ihe public to learn Ihe history and heritage of Wren's archileclure, London's hlstory and
the history of the Royal Air Force. The church is open lo all for private prayer. conlemplalion and also holds
regular servÉces three Ilmes per week.
Wh8n planning the Church's aclivilies, the Twslee Board m8mbers have considered th8 Commission's guldance
on public benefit and, In partlcular. Ihe specific guidancB on charities for the advancement of relbion. In shaplng
our objectives for the year and planning our aclivilies, the Irustees have also consldered Ihe Charity
Commisslon's guidance on public benefit, including lh8 guidance 'public benefit.. funning a charity {PB2)'.
Alms
The vislon of the Church which Is supporled by ihe Fund is lo:
'Be a Ilving Royal Air Force memorial for both the Service and the Nation as well as a symbol of Ihe abiding
courage and spiritual fortitude of Royal Alr ForcÈ personnel..

ST. CLEMENT DANES CHURCH FUND
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Perfomiance and Achlevement
11 Is encouraging Ihal there has been grovAh and positive dèv8bpmÈnts within th8 C8ntral Church ol th8 Royal
Alr For￿ (RAF), whlch has seen an increase in ils congregation and engagemenl with the church's events. Both
RAF personnel and members of the public are engaging with ils services in grealer numbers, drawn by Ihe
church's C￿mmitMent lo provsding spirilual and pasloral support Ihfough baptisms. weddings, funerary
e£remonles. memorfal serwces, and other dedicated care. Regular Sunday servrces and an expanded range of
themed worship opportunities have slrenglhened community engagemenl and unity. Collaboralive efforts, such
as the incorporation of the broader Chaplains. Profession Into Ihe Preachmenl Programme. introduced May
2022, have enhanced Ihe vibrancy of main services. Addilionally, Ihe church remains steadf8St in ils outreach,
offering pastoral care and support to Se￿iCe members and their families through unit visits and other inilialives.
These achlevemenls reflect the church's vilal role in fostering failh. connection, and growth wllhln Iha RAF
community and beyond. fostering the ongoing work lo enhanG8 the vlsibllity of SCD.
The past year has been a remarkable showcase of the diverse and meaningful spirilual offerings we provide. The
irblegration of RAF Music Services into Ihematic church seryices and the inlroduclion of the RAF Air Cadet Choir
have been mel with wdespread enthusiasm and support. Highlights include a variety of significant seNices such
as the Thanksgiving Service honouring those who have died in service, the ServicE of Remembrance. the RAF
Roman Catholic Mass celebrated with Ihe RC Bishop lo the Forc£s. and our Involvement In the Lord Mayor's
Show, sUPPOrting Service Personnel and police. Our cyJmmilment lo foslering music and worship continues lo
thrive. with monlhly recitals featuring Royal Academy of Music sludenls and many spedal events, such as the
Royal Auxlllary Alr Force Centenary Service allended by HRH Duke of Gloucesler. the Hlgh Sherlffs. Reception
and Afternoon Tea, Ihe Secondary School Se￿ice, and the Friends of St C18menl Danes Carol Concerf.
Seasonal celebrations brought the community together Ihrough Advent and Christmas servlces, Includlng Ihe
Savage Club Carols, th8 Polish Knighls of Malla Carol S8fvicA8. the St Clem8nt Danes Carol Servlce supported
by 601 Sqn and Ihe Unlversliy of London Alr Squadron, and other cherlshed gatherings Ilke the Meath Epllepsy
Carol Service, RAF Benevolent Fund Carol SeNice, Shell Carol Servlce. Midnighl Mass, and the Christrias Oay
Service. Additionally, Sl Clement Danes proudty participated in H8rilag8 Open Days, welcomlng visllors lo
explore the crypt and enjoying an increase In engagement. These evenls reflect Ihe vilallty and Incluslvlly of our
spiritual mission, drawing people logelher in failh. music, and community.
The work of the Resldenl Chaplaln. the Church Manager and all Ihe slaff at Sl Clemenl Dan8s Church over the
pasl year has inspired growth in the worship, spiritual life. pasloral care. and overall scnse of community al St
Clement Danes Church. Thelr efforts. in parlnership with various stakeholders, have enrfched Ihe Ch￿Ch'S
Impact wilhln Ihe Royal Alr Forc8 and broader cK)mmunity and fostered a vlbranl and Ihrfvlng envlronmant.
Development Offlce
The last financial period has remained challenging wilh the effects of post Covid. the Ukraine War and cost of
living crisis all effecllng the climate for fundraising wilhin the sedol.
The 1941 Appeal visionary documenl was prepared and launched in a private phase at the RAF Formallon
servi￿ in April 2022, with Ihe priority to raise funds for the restoration of the 1719 James Gibbs Gothic Sleeple,
whilst development of the scnping plans for the Crypl enlargemenl and 8xlerior curtilage resloralion are on-
going.
The princlple alm of the private launch was lo engage with and garner support from wllhin the RAF for the 1941
App6al. This development work continues.
Supporter acquisition has been a priority. wilh Ihe donor dalabase growing lo jusl over 1,500 supporters, soctal
media portals have 1.400 followers and both these areas are a focus lo devek)p and Increase for lh8 n8xI
rinancial period.
The stralegic objectives for th8 D8velopment Office are to focus their efforts on building the network and
relationships wlh grant giving organisattons. potential major donors and philanlhropisls. Additionally building
Ilnks wlth polenlial partner ¢haritles and organisallons both wilhln the RAF family and extemally lo support th8
vision for the provision of welfare support lo veterans through Ihe 1941 Appeal.
Engagement with the Royal Air Force has been benefictal in securing finds for the most urgent mainlenance and
repair. Thls engagemenl wll conlinue in parallel wilh fundraising efforts lo secure Ihe future of the Church and
Ihe Charity.

ST. CLEMENT DANES CHURCH FUND
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Investment Perfornian¢e
The market value of Ihe Fund's Inv8slm8nt portfolio al 31 March 2024 was £660.805 (2023: £862,790). £250.000
was drawn down durlng the year and there were ￿ addilional Inveslmenls. The porffolio is managed on behall
of the Fund by R8lhbones Weallh and Management.
The Fund's portfollo Is monilored by the Trustees who regularly seék prof8ssional Investment advicA8 from a thlrd
party, The current investment objectives of Ihe Fund are
To maintain a medium lo low risk balanced porlfolio Ihal sees 65°A of th8 inv8Stment in Equllles, 250A in
Bonds and 10% in Money Mark8t Inslrumenls.,
To measure the performance againsl the following benchmarks..
UK Equity Funds- FTSE All-share Ind8X.
Ov8rseas Equity Funds - FTSE World Excl UK
Corporate Bond Funds - MerTiII Lynch Sterling Non-Gill Index.
Money Market Inslrumenls- IPD Monlhly.
To achleve an appropriate agreed Inveslmenl incA)me18rget from the portfolio
For the year to March 2024, the portfolio posted a retum of 11.000/0 againsl the benchmark of 11.27% (2023:
posted a return of -3.67Yo against the benchmark of -3.34°/0). Intr￿me of £28,847 was aGhleved (2023.. £27,817);
Ihlsl8 not against a budg81 or target.
Remuneratlon Pollcy
Those who give their lime do so voluntarily in order to develop themselves, add benefil lo Ihe Service and
provid8 additional capauly.
Flnanclal Revl8W
Overall the Fund's Income for the year Increased slighlly over lh8 previous ye8r.' £314,052 compared to
£301,414 in 22123. The reason for this increase is an increase in income from charilable aclivilies from Ihe
pr8vious year. Ther8 was also a grant of £2,000,000.00 from the RAF to pay for Ihe repairs lo the sleeple and
assoclated works.
Donalions decreased by almost 90A from the prevEous year wilh a slgnificanl fall in the level of IrrLsm8 from the
1941 Appeal.
Speclal Servlces Income increased by over 17Yo, from £75.941 in 22123 10 £95,150 In 23124. This reflects th8
continued uplift in the number of events h81d at the church.
The Fund addllionally rec£￿eS public support through the ulilisalion of Minlslry of D8fence employees. The Fund
8ssigns an estimated value to the support provided. whlch Is recognised as a gill in klnd as noled wilhln notes 3
and 8 to the 8ccounls.
Expendllure was below the budget, Sh￿ng a small increase on Ihe previous year (23124 - £410,750 vs 22123 -
£403,908). Maintenance costs Increased significantly compared lo 22123. Cost relaling to Special Services
expenditure again showed a slgnlficant increase, reflecting the additional aclivily and increased income In thls
area. Informalion regarding Ihe Fund's expenditure can be found wlhln notes 6 and 7.
Total net assels Increased slgnlficanlly to £2.966.774 {22123'. £1.012.769) as a result of the £2,000,000 granl
from the RAF.
Resèrves
The Trustees have set a largel for the unreslrided reserve levol of £100.000 lo ensure short-lerm liquidity and
adequate working capilal are maintained.
Investments
The Fund maintains a neutral ethical investment policy to such an extenl deemed posslble by the conlinued
investment w7lhin pooled funds.

ST. CLEMENT DANES CHURCH FUND
TRU5TEES' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
AddAlpTraUy, on 2 Juty 2016 Iho follovlng olhlc41 ilalwnonlwai IntroduG4d io Iho IWKI: Th• ChaFty h91 the f￿h1
to oxthda Invesllng ltt ￿mpanIeS whogo a￿1vIlle¥ o¢t ￿nIf8ry to tho CharfV8 alms and obJ8ctives. As tho
Charily ha) drJrJd•d lo hold poolod Invoalmfrnl•, Ihe TN8loo& o¢knovAÈdg• that noed lo be pragmalk
roganl to olhlcal Inveglmonl• and Ihoioloro liav& no cuiionl oxclu8lDnJ In plac4. Howover, thfry festrve the ilght
lo add •xduiloni In fu￿r0 8• •ppropilo10.
Th• TNileg• c¢nllnuo lowoth tlmoly I￿) IIM) Invoilmonl mDnollor, taklng Inlo con8lJer8lbn th¢li olmafket
pro¥pedi wh•n Ihty conildor oxpondllwo ioquliornonl• ond iovloylng lh• Inv•ilrnanl ilialegy.
Yho Inv•ilnMnl li lublotl Io Dnoolno iooulor iovlow lo on•uio11 conllnuo• to odoqu•t8ty Iho curront
and lU￿rn no4di ol Iho Fund.
Plani for fuluro PQTlod*
Tho 1941 v￿1 rnmaln the maln fouji of th• plam Ihe lor¢$¢gable firture, valh the re8loiatl¢)n ol th•
Steepl• lh• prlorlly, It has been ¢xnltmi&d Ihat tho Ifag115ty ol Ihe 8lèeplo and lh• delay to wrlng fund[￿ for
resloraknon ￿1) seo SCD Churth edded to Hl$torfc Englands'At Rlsk Reglsléf b) lalo 2023.
Enplgemenl wlth the RAF Exe¢wliv0 Comryytte• wlll conllnvts to secure fundi aj ￿¢￿•10ry vknén ufoty tsltte41.
The Ifuslees ￿11 conllnufr to develop relallonshlps with Ihe.support of 8enlor RAF per80nnel potenval Malof
Donorn. Phllanlhropl818 & giant glvlng org8nlsaUons In pr¢p8rallon for fuluie 8ppli¢aUon• In 8UPWt ol tho 1941
Appeal. Vthllst conlknuSng lo dftve $upportef acqulsluon and publlc eng8g6menl Ihmugh evenl8 8nd tours.
Slat•m•nt of Tru8to•9' R•ipon8lbllltl•s
The law oppll¢abl• lo thaiitles In England and Wales le4￿re9 the tnislees to pr•paf• fin8ndal ltslemenls lor
each ffinandol ye4r whl¢h givé a Irue and lalr Nlew ol tho st81è ol thè affalr8 of tho Fund and ol the Incomlng
reK+ure•8 and appllcallon ol resources ol Fund for Ihil peflod. In we￿rf￿9 Ihese finan¢l•l 8ldl•ments, tho
tru3t¢e$ are requlred lo:
SeleGI 8uliqble accountlng pollcles and Ihen appw them ¢on31slenlly: and
Comply wilh appllcable 8￿n￿ng slandard$, kndudlng FRS 102. 8ubJecl to any materfal departur¢8
dS$dosed and oxpfalned In Ihe finand•l $latom•nl•: and
Stale whelher.a Stalemenl of Recommendeil Pradlc• (SORP) appbog and h3$ been followed, 8vbJecl to
any malerlal departufes %thkh gre oxplalned In tho ilnandal statement& and
MakeJudgem8nls and t$timaleg Ihal are reasonable and pwdènl: and
Prepara the finan¢lal slalements on the golng concern basls V￿e¥S11 h tnapproprfala to Prn8ume thal
Ihe Fund wlll eonlinue lo oper81•.
The twslees are responslble for keeplng proper accounung iecord5 Ihal dl$do$e whh reasonablo acujraty at
any Ilme tha financlal po$llion ol the Fund and en?ble them to ensure that the finan(aal statement$ cA)w￿lY vAth
the Charfues Ad 2011 and the provislons ol lh8 Twst Deeds. They arn al$0 iesponslblo for safeguarthng Ihe
ass915 of the Fund and hence for taklng reasonable slep$ for the prevenlkn and deledlon ol f(aud and olher
lffegldathles.
By order ol tho Tru$tee8
Chalr
Board olTNslees
Dats
18
TNsl88
Chair Flhaned C¢n*4ttee
Date

ST. CLEMENT DANES CHURCH FUND
INDEPENDENT AUDITOR'S REPORT
TO THE TRUSTEES OF ST. CLEMENT DANES CHURCH FUND
Quallfled Oplnlon
We have audited the financial stalem8nls of Sl. Clement Danes Church Fund (the 'charity') for Ihe year ended 31
Marth 2024 which comprise the slalement of financial acliviti8S. the balance sheet and notes lo the financial
slaleménts. including significant accounting poliues. The financial reporting framework Ihal has been applied In
their preparation is applicable law and Unitéd Kingdom Ac£ounling Standards, including Flnancial Reportlng
Standard 102 The Financi81 Reporting Slandard appliGab18 In lh8 UK and Republic of Ireland (Untied Kingdom
Generally Accepted Accnunling Praclice).
In our oplnlon, 8XC8pI for the effects of the maller described in the 8asls for Qualified Opinion paragraph, the
financial statements..
glve a true and lair view of the stale of Ihe charity's affairs as at 31 March 2024 and of ils incoming rèsources
and applicalion of resources, for the year then ended:
have been properly PTepared in accKJrdanr£ with Uniied Kingdom Generally AcrApted Accountlng Practi￿.
and
have been prepared In accordance with Ihe Charities Act 2011.
Basls for Quallfled Oplnlon
In the prior y8ar, the financial statements of thè charlly were not audiled. Thus, we were unable lo sallsfy ourselves
c£sncerning Ihe openlng balances, as at 1 April 2023. Consequently. we were un8ble lo determina whelher any
adjuslmenls lo these figures were necessary in the year ended 31 March 2024.
We conducted our audil in accordance vllh International Standards on Audiling (UK) (ISAS {UK)l and applicab18
law. Our responsibilities under those standards are further described in the Audilorfs responsibililies ft)r Ihe audil ol
Ihe fin8ncial slal&monts secllon of our report. We are Independent of the charity in accord8nce with the elhi¢81
requlremenls Ihal ar8 relevant to our audil of the financl81 slatem8nls In the UK. Including Ihe FRC'S Elhical
Slandard, and we have fulfilled our other elhlcal responsibilities in accordan￿ with these requirements. We believe
that Ihe audit evidènce we have oblalned is sufficAenl and appioprfale lo provkle a basis for our oplnlon.
Concluslons relatlng lo golng concern
In audillng thè financial sl8lemenls, we have conduded thal the Truste88' use of the golng CL)nc8rn basls of
accounting in the preparation of the financial slalemenls is appropriate.
Based on the work we have performed, we have not idenlified any malarlal uncErtainlles relallng lo avenls or
condilions that, individually or collectively, may cast significant doubl on the charity's ability lo continue as a going
concern for a period of al least ￿e1ve months from when the financlal slalemenls are aulhorised for Issue,
Our responsibilities and the responsibilities of the Trustees wilh respecl lo going concem are described in the
Televanl secllons of this report.
other Informatlon
The other information comprises Ihe informalion Included In lh& annual report olher than the fina￿181 statemenls
and our auditoffs report Ihereon. The Truslees are responsible for the other information contained within the annual
report. Our oplnlon on Ihe financlal slalemenls does not cover Ihe olher information and w8 do not express any form
of assurance conclusKJn Ihereon. Our responsibility is to read Ihe olher information and. In doing so. consider
whether Ihe other information is materially In￿nSIstenI with Ihe financial slalemenls or our knowledge obtained In
Ihe course of the audit, or olherwlse appears lo be materially mlsslated. If we identify such material inconsistencies
or apparent material misslatemenls, we are requlred to determine whelher this gives rise lo a malerA91 mlsstatem8nt
In the financial stalemenls Ihemsefvs. If, based on the work we have performed. we conclude that there is a
material misstalemenl of Ihis olher Inlomialion, we are required lo report that facl.
We have nothing lo report in this regard.

ST. CLEMENT DANES CHURCH FUND
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF ST. CLEMENT DANES CHURCH FUND
Matters on whlch we are requlred to report by exceptlon
We have nolhing lo report In respect of Ihe following malters in relallon to which Ihe Charilles (Accounts and
Reports) Regulations 2008 requires us lo report to you if. In our opinion:
th8 information given In Ihe financial slalemenls Is Inrnnsislent in any material respect with the Trusle8S'
r8POrt' or
sufficient accounting records have not been kept: or
Ihe financial slalements are not in agreement with Ihe accountlng recA)rds; or
we have not recèlved all the inf0m￿li0n arKI explanalions we ￿quire for our audit.
Responslbllitles of Trustees
As explalned more fulW In th8 slatem8nt of Trustees, resFM)nsibllilies. Ihe Trustees are responsible for th8
preparation of the financial slalements and for bein9 salisfted that Ihey give a true and (air view, and for such
internal control as the Trusle8s determine Is necessary to enable lh8 preparation of financial slatemenls Ihat are
fr88 from malerlal misslalement, whether duè to fraud or error. In preparing Ihe financial slalemenls, lh8 Trustees
are responsible for assessing Ihe charity's ability to continue as a going concern, disclosng, as applieAble, mallers
r8laled lo going concem and uslng th8 going concern bas1$ of accounting unless the Trustees eith8r intend lo cease
operallons, or have no realistic alternalive bul to do so.
AudltoV8 responslbllltles for the audll of the flnanclal statements
We have been appointed as audilor under section 144 of Ihe Charities Acl 2011 and report in accA)rdance wilh the
AGI and relavanl regulations made or having effect Ihereunder.
Our objectives are to obtain reasonable assurance about whelher the finanaal slalements as a whose are fr88 from
material m1sslalement, whether due lo fraud or error. and lo Issue an audltoffs reporl Ihal InclLJdes our opinion.
Reasonable assurance Is a hlgh 18vel of 8ssuranc£ but is not a guarantea that an audll conducled in acwrdance
wilh ISAS (UK) will always delect a malerial misslalemenl when il exists. Misslalemenls can arise from fraud or
error and are consldÈred malerial if, individually or In Ihe aggregale, Ihey could reasonably b8 expected to Influenc8
lh8 8conomic decisions of users taken on the basis of these financlal stalemenls.
The extent to whl¢h our procedures are capable of delecling irregularilles, Indudlng fraud, is delalled below.
Obtaining an underslandlng of the legal and regulatory fremeworks thal the Charity operales In. f¢xuslng
on those laws and regulations that have had a direcl effeGt on the financial slatemenls. The key laws and
regulations we considered In Ihls context includ8 Charilles Act. In 8ddilion, we consider compliance wllh
employee legisL8llon, as fundamental to the Charily's operalions.
Discussions with managemenl, Including consideration of known or suspected instan￿S of noncomplianc£
with laws and regulallons and fraud.,
Enquiry of manag8m8nl and thoso charged with governance around adual and potential Ittlgallon and
daims;
Performing audil work over the risk of management override of controls, Including testing of Journal enlries
and other adjuslmenls for approprlaleness, evaluallng Ihe business rationale of significant transactions
outside the normal course of business and reviewing accounling eslimales for bias-
Revlewlng mlnules of meetings of Ihose charged wlh governan￿. and
Reviewing financial statement disclosures and lesllng to supporting documenlallon to assess compll8nce
with applicable laws and regulations.
There are inherenl limilations in Ihe audit procedures descrli )ed above and the further removed nOr￿0￿p11anee with
laws and regulations is from Ihe evenls and transactions reflected in the financial slalemenls, the less likely we
would become aware 0111. Aso, the risk of not detecting a material misstatemenl due to fraud is higher than the risk
of not detecting one resulllng from error, as fraud may involve dellberat8 concealment by. for Éxampla, forgery or
intentional misrepresentalions, or through collusion.
A further descAption of our responsibilities Is available on the Flnancial Reporting Councils website al: https.'Il
w.frc.org.ukl8udilorsre5ponsibililies. This description forms part of our auditorfs report.

ST. CLEMENT DANES CHURCH FUND
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF ST. CLEMENT DANES CHURCH FUND
Other matters
Your allention is drawn lo Ihe fact thal the charily has prepared financial stalemenls in accordance with 'A¢Gountlng
and Reporting by Charities.. Statement of Recommended Practice applicable lo charilies preparing Iheir accounts in
accoidance wilh the Financial Reporting Standard applicable in Ihe UK and Republic of Ireland (FRS 102)" (as
amended) In praférencè lo lh8 Accounting and Reporting by Charities.. Statemenl of Recommended Practlce issuéd
on 1 April 2005 whlch Is referred lo in Ihe extant regulations bul has now beèn vAlhdrawn.
Thls has been donè In ord&r for the financial slatemenls to provide a Inj8 and fair view in acojrdance wllh current
Generally Accepted Accounling Practice.
Use of our report
This report Is made solely lo the charity's trustees, as a bcmjy. in accordance wlh Part 4 of the Charities (Accounls
and Reports) Regulations 2008. Our audit work has been underiaken so that wé mighl slate lo th8 charitvs Iruslees
thos8 m8lt8rs we are requlred lo state to them In an audilor's report 8nd for no other purpose. To the fullest ex16nt
pemiilled by law, we do not accept or assume responsibility lo anyone olher than Ihe charity and the charily's
Iruslees as a body, for our audit work. for Ihls report, or for the opinions we have formed.
Gary A Heywood {S8nlor Slatulory Audltor)
For and on behalf of BK Plus Audlt Llmlted
2810112025
Oaklngham House
Frederick Place
High Wycomb8
Buckinghamshire
HP11 1JU
BK Plus Audlt Llmlled Is èligible for appoinlment as auditor of Ihe charfty by virtue of ils ellglblllty for appointment 8S
auditor of a cnmp8ny under secllon 1212 of the Companles Act 2006.

ST. CLEMENT DANES CHURCH FUND
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2024
Currenl flnanclal year
Unrestricted Deslgnated Reslrlcted
fund8
funds
fund8
Total
2024
2024
2024
2024
Notes
Donations and legacies
Charllable activltles (income)
Inveslmenls
2,166,726
95,150
28.847
23,329
2.190.055
95,150
28.847
Total Income
2.290.723
23,329 2.314,052
Raising funds
23,753
807
24,560
Charilable actlvltles
374,580
11.610
386,190
Total rasources expended
398,333
11,610
807
410,750
Nel gains on Inveslmenls
11
50,703
50,703
Not Incomlngl(outgolng) resources before
transfers
1,943,093
(11,610)
22,522
1,954.005
Gross transfers between funds
(1,943,093) 1,943.093
Net movement In funds
1,931,483
22.522
1,954,005
Fund balances al 1 April 2023
100.000
847,647
65,122
1,012,769
Fund balances at 31 March 2024
100.000
2.779.130
87,644 2,966.774
The slalemenl of financial activities Includes all gains and losses recognised in Ihe year. All income and expendilure
derive from continuing aclivlties.
10-

ST. CLEMENT DANES CHURCH FUND
STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED)
INCLUDING INCOMEAND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2024
Prior flnancial year
Unrestricted Deslgnated Restrlcted
funds
funds
funds
Total
2023
2023
2023
2023
Not8S
Donallons and legacies
Charilable acliwlies {income)
Inveslments
162,493
75,941
27,817
35,163
197,656
75,941
27,817
Total Income
266,251
35,163
301,414
Raising fund5
34.326
1,546
35.872
Charit8ble activities
362.496
5,340
200
368,036
Total resources expended
396,822
5,340
1.746
403,908
Net losses on Inv8slm8nls
11
{60.159>
160,159)
Net outgolng resources before Iransfers
{190.730)
(5,340)
33,417
(162,653)
Gross transfers be￿een funds
190,730
(190.730)
Net movamenl In funds
(196,070)
33.417
(162,653)
Fund balances 811 April 2022
100.000 1,043.717
31,705
1,175,422
Fund balances at 31 March 2023
100,000
847,647
65,122
1,012,769
Tho slalemenl of financial aclivilles Includes all galns and losses re￿nised In the year. All income and expendllure
derive from continuing aGlivilies.
11

ST. CLEMENT DANES CHURCH FUND
BALANCE SHEET
ASAT3t MARCH 2024
2024
2023
Noto$
Flxed assets
Investments
q2
660,805
862.790
Currentag18ts
Slocks
Debtors
Cash al bank and In hand
13
14
2.874
28,862
2,294.290
5,190
12,006
159.006
2.326,026
176,202
Crodltorn: amount8 falllng du• wlthln
ono year
(20.057)
(26,223)
Net currenl asBet8
2,305.989
149,979
Total a8••t81018 curront Ilabllltl•$
23
2.986.774
1.012.769
Income fund•
Reslrl¢led funds
Deslgnated fvnds
Unrestrlcled funds
21
22
22
87.844
2,779,130
100.000
65,122
847,647
100,000
2,966.774
1.012.769
The finandal $tatemen18 were approved by the Trustees on .%.8. -A.fiM..AS
Mr8C
Tru8too
pie
12-

ST. CLEMENT DANES CHURCH FUND
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Accountlng pollcles
Charlty Informatlon
Sl. Clemenl Danes Church Fund is a registered charity in the United Kingdom. The address of the registered
orric8 is given In Ihe Trustees. report of these financial slalemerbls. The nature of the Charily's cperations and
principal activities is lo ralse money lor Ihe maintenance of St Clemenl Oanes Church and Support the day io
day running of the Church for the benefit of all members of the Royal Alr Force. past and present.
1.1 Accountlng convenllon
The financial statements have been prepared In accordance wllh th8 charlvs governlng do¢umenl, the
Charilias Act 2011 and °Acxounling and Reporting by Charilies.. Statement of Recommendad Praclir
applicable lo charities preparing Iheir accounts in accordance with Ihe Financial Reporling Standard
appllcable in the UK and Republlc of Ireland (FRS 102)" (as amended for accounting periods commencing
from 1 January 2016). The charity Is a Public Benefit Entity 8s defined by FRS 102.
The financlal statements are prepared In stèrfing. which Is Ihe funcllonal currency of the charity. Mon8lary
amounts in these financial statements are rounded to tha nearest £.
The financial slalements have bean prepared under Ihe hlstorical cosl convenlion, modified lo Include lh8
r6valu8tion of inveslmenls at fair value. The prlncipal accounting policles 8dopied are sel out below.
1.2 Golng concern
The financial slalements have been prepared on a going concem basis. The Irustees have rewewed
conslder8d relevanl Informallon, induding Ihe annual budget and fulure cash flows In making Ihelr
assessment. Based on these assessmenls, given the measures that fAJuld be undert8ken lo millgale the
current adverse conditions. 8nd Ihe current resources available, the Iruslees have concluded that they can
conllnue to 8dopl Ihe golng concem basis In preparing the accounts.
1.3 Charltable funds
Unrestricted funds are 8V8llable for use al the discretion of Ihe Truslees In ftjrtherance of Ihelr charllable
objectives.
Reslricled funds are subject lo speclfic condillons by donors or grantors as lo how they may be used. The
purposes and uses of the reslricled funds are set out In Ihe notes to the financial slatemenls.
Endowment lunds are subjecl to specific condillons by donors Ihat Ihe Capllal must be malnlalned by the
charity,
1.4 Income
Income is recognised when the charity is legally enlilled lo il after any performance conditions have been mel,
the amounts can be measured reliably. and il is probable thal income will be received.
Cash donalions are recogni5ed on receipl. Other donallons ar8 recognised once lh8 charity has been notified
of Ihe donation, unless performance conditions require deferral of the amount. Income lax recoverable in
relation to donations received under Gift Aid or deeds of covenant is recognised al Ihe time of reclaim,
Legacles ar8 rècognised on receipt or othernvise if Ihe charity has been notified of an impendlng distribution,
the amount is known, and receipt is expected. If Ihe amount is not known, Ihe legacy is treated as a
contingent asset.
13-

ST. CLEMENT DANES CHURCH FUND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Accountlng pollcles
(Contlnued)
1.5 Expendlturg
Expenditure is recognised onc£ Ihere is a legal or conslruclive obligalion lo transfer economlc benefit lo a
Ihlrd paty,11 Is probabl8 that a transfer of economic benefits will be required in settlement, and Ihe amount of
the obllgallon can be measured reliably.
Expendrtur6 is classified by activity- Th6 cosls of each aclivily are made up of th8 total of dlr&l costs and
shared ¢osts, including support ￿sIS Invofved in undertaking each aclivily. Dire¢l costs a1tributa1￿e lo a single
aclivily are allocaled directly lo that aclivily. Shared costs which conlribule lo more than one aclivity and
support costs which are not altribulable lo a slngle activity are apportioned belwe8n Ihos8 aclivltlÉs on a basls
consistent with Ihe usé of resources. Central staff cosls are altocated on the basls of lim8 spent, and
depre￿￿tion charges are allocated on the porlion of Ihe asset's use.
Expendllure is recogni5ed on an accruals basis as a Ilabilily Is Incjjrred. Charitable expendilure comprises
Ihose costs incurred by Ihe Charily in delivery of ils aclivilies and s6Nices for Ils beneficiaries, 11 includes both
cosls that can be allocated directly to those aclwities and Ihose costs of indirecl nalure necessary to supporl
Ihem. Governance cosls indude those costs associated with meeting the conslilulional and slalulory
requlremenls of the Charity and includ8 audit fees and atLounlancy costs linked lo Ihe 51raleglc management
of the Charity.
1.6 Flxed asset Investments
Fixed asset Inveslmenls are initially measured al transaclion prlce 8xcluding Iransa¢llon costs, and are
subsequenlly measured at falr value at each reporllng dale. Changes In fair value are recognised In n81
Incomel(expendllure) lor Ihe year. Transaction costs are expensed as incurred.
1.7 Stocks
Stocks are staled at the lower of cost and eslimaled selllng pric8 less costs to complete and sell. Cost
comprises direct materl8ls and. where appllcable, direcl labour Gosls and those overheads Ihal have beén
incurred in bringing the stocks lo Iheir present localion and condition. Ilems held for dislribulion 81 no or
noffllnal consideration are measured Ihe lower of replacement cost and cost.
N81 r6alisable value is Ihe esllmaled selllng prlce less all estimaled costs of complellon and costs lo be
in¢urred in marketing, selling and dislribulion.
1.8 Cash and cash equlvalents
Cash and cash equivalents include cash In hand. deposils held 81 call wilh banks. other short-lerm liquid
inveslments with original malurilies of three months or less. and bank ov8rdrafts. Bank overdralls are shown
wllhin borrowings in cuirent liabilities.
1.9 Flnancial inslrumenls
The charity has elected lo apply the prowsions of Seclion 11 'B8sic Flnandal Instruments. 8nd Section 12
'Olher Flnanclal Inslruments Issues, of FRS 102 to all of its financial inslrumenls.
Flnanclal inslnjmenls are recognised in Ihe charivs balance sheet when tha charily becomes paty lo the
contractual provisions of Ihe inslrumenl.
Financial assets and liabllltles are offset. with Ihe nel amounts presented in Ihe financial slalements, when
there is a legally enIor￿able right lo set off the recognised amounts and there is an intention to settle on a nel
basis or lo reallse the ass81 and sellle the liability simullaneously.
14-

ST. CLEMENT DANES CHURCH FUND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Accountlng pollcles
(Contlnu8dl
Baslc flnanclal assets
Basic financial assels, Ithich indude debtors and cash and bank balances, are inilially measured al
Iransaclion price Including Iransaction costs and are subsequently carfTed al amortlsed cost using Ihe effective
interest melhod unless the affangement C£*nstilules a financing transacllon, where the Iransacllon is
measured al lh8 present value of the future receipts discounted at a markal rale of interest. FinancAal assets
classilled as receivable wilhin one year are nol amortised.
Baslc flnBnclal Ilabllltles
Bas1¢ financlal liabilities, including creditors and bank loans are Inilially rai￿niSed 8t transactlon price unless
Ihe arrangement conslilules a finanGing Iransaclion. there the debt instrument is measured al the present
value of the fL>lurÉ paym8nls discounted al a market rale of interest. Financial liabllilies dassified as payable
wilhin one year are not amortlsed.
Debt Instruments are subsequently carried al amortlsed cost. using the effective interest ral8 m81hod.
Trade creditors are obligalions to pay for goods or services Ihal have been acquired in the ordinary course of
operalFons from suppllers. Amounts payable are classified as current llabllit18s If paymenl Is due wllhln on6
yèar or less. If not. they are presented as non-current liabilitles. Trade credilors are recognised initlally al
transaction pric8 and subsequently measured at amortised cosl using the effective interesl melhod.
Derecognltlon of flnanclal Ilablllllas
Financial liabilities are derecognI5ed whèn the chariws conlraclual obllgallons expire or are dlsdiarged or
cancelled.
1.10 Employee ben8flts
The cost of any unused holiday enlillement is recA)gnised In the period in which Ihe employee's services are
recelved.
Temiinalion benefits are recognised immedi81ely as an expense when the charity is demonstrably commilled
lo lermlnale the employment of an employee or lo provlde lemiinallon benefits.
Critical accountlng estlmates and judgements
In th8 spplitalion of th8 charty's a￿OUntIng pollcles. the Trustees are requlred to make judgements,
eslima18s and assumptions about the carrying amount o18ssels and liabililies that are not readily apparent
from other sources. The estimates and associated assumplions are based on historical experien￿ and other
factors thal are considered to be relevant. Actual results may differ from these esllmales.
The eslimales and underfying assumplions are revtewed on an ongoing basis. Remsions lo accounting
estimates are recognised in Ihe period in which the esllmate És revised where the revision affects ￿lY Ihat
pèrlod, or in the period of the revision and future periods where Ihe rewsion affects both current and future
periods.
15-

ST. CLEMENT DANES CHURCH FUND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Donatlons and legacl8S
Unrestrlcted Restrlcted
funds
funds
Total Unrestricted Restrfcled
funds
funds
Total
2024
2024
2024
2023
2023
2023
Donated services
Donations
Beques15 and leg8des
Memorial b¢)oks
Badges
1941 Appeal
135.590
2,030,936
135,590
2,030,936
131.152
28,606
1,000
640
1,095
131.152
28.606
1,000
640
1,095
35,163
2C
200
23,329
23.329
35.163
2,166.726
23,329 2,190,055
162.493
35,163
197,656
Charltable actlvltles (Income)
Speclal
servlces
2024
Spaclal
Servlces
2023
Services within chaiilable activities
95,150
75,941
Invastments
Unre8trlcted Unreslricled
funds
funds
2024
2023
Dividends
Interest receivable
25.807
3,040
27.029
788
28,847
27,817
16-

ST. CLEMENT DANES CHURCH FUND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Ralsing funds
Unr8strlcted Restrleted
funds
funds
Total Unrestricted Restricted
funds
funds
Total
2024
2024
2024
2023
2023
2023
1941 Appeal
Fundraislng t£JsIs
Unll badges
Investment manager fee
Memorial books
Raising volunlary Income
(see note 91
807
807
1,915
2,100
2.682
457
2,488
2,348
900
4,134
1.039
1,546
4,034
2,348
900
4.134
1.039
1,915
2,100
2,682
457
16,599
16,599
23,417
23,417
23.753
807
24,560
34.326
1.546
35.872
Charltable actlvltles
2024
2023
Standard and special services
Choir fees
Director of muslc fees
Outreach
Insuranc8
Ulillties
Cleaning
Maintenance
Major refurbishment
Travel and subsi8lence
34.850
36.804
33.136
4.748
2,398
16,593
7,893
40,530
15,499
38,155
35,210
7,797
2,822
18,816
7,707
29,590
5,340
4,165
3,767
180.719
165.101
Share of support costs - Special service5 (see nole 8)
Share of support costs - Slandard services (see nole 8)
Share of governance costs (seè nola 8)
51.538
120,256
33,677
47,533
132.384
23.018
386,190
368,036
Analysi$ by fund
Unrestricted funds
Designaled funds
Reslricled lunds
374,580
11.610
362,496
5,340
200
386,190
368.036
17-

ST. CLEMENT DANES CHURCH FUND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Support costs
Support Governance
costs
costs
2024Support costs Governance
costs
2023
Staff cosls - Notional
Staff cosls - Direct
Consullancy fees
122,944
28,324
37.125
12,646
135.590
28,324
37.125
119,375
22.359
61.600
11.777
131,152
22,359
61,600
Audit fees
Legal and professional
Finance costs
6,000
14.260
771
6,000
14,260
771
10.389
852
10,389
852
188,393
33.677
222.070
203,334
23,018
226,352
Anatysed between
Fundraising
Charitable acliwlies
16.599
171.794
16,599
205,471
23.417
179,917
23,417
202,935
33,677
23,018
188,393
33,677
222.070
203.334
23,018
226,352
Trustees
A Gillespie. a Trustee, was reimbursed expenses ol £nil (2023 - £67) by the charity during the year, Non8 of
the Trustees (or any person connecled with them) received any remuneration or benefils from the charily
during this or the preceding year.
10 Employees
Employment costs
2024
2023
Wages and 5al8ries
163,914
153,511
No member of staff employed dlreclly by the Fund eamed more Ihan £60.000 during Ihe ye8r.
The Minislry of Defence employed five members of staff {2023.' six) who spent at least part of th8ir lime
deallng wlth the adminlslrallon of the St Clement Danes Fund. The Minlslry of Defence makes no salary
recharge for the individuals perfomiing day to day administration. beG8u5e of Ihe Fund's charitable slalus.
Th8 values of staff salaries paid by the Ministry of Defence are eslimaled at £135.5go (2023: £131.152) and
ara Included in the above siaff costs.
The Ministry of Defence eslitnale of staff cAisls of £135,590 represents the following percentages of slaff
lima: Chaplain - 100°kn. Flight Lieulenant - 3°h. Flight Lieulenant- 2.5°h, EO Civil Servant- 100Yo and AA
Civil SeNant - IOOOkn. The directly employed staff account for 0.83 full lime equivalents (2023: 0.88) and
Lx)nsisted of a number of Depulies who are employed on zero hour conlracts.
18-

ST. CLEMENT DANES CHURCH FUND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
11 Net galns on Inv8Stmenls
Unrastrlcted Unrestrided
funds
funds
2024
2023
Galnl(loss) on sal8 of inv8Stments
50,703
(60,159)
12 Flxed asset Investments
Llstad
Investm8nts
Cost or valuallon
At 1 April 2023
Valuation changes
Dlsposals
862,790
103,719
(305,704)
At 31 March 2024
660,805
Carrylng amount
Al 31 March 2024
660,805
Al 31 March 2023
862,790
13 Stocks
2024
2023
Finished goods and goods for resale
2,874
5,190
14 Debtors
2024
2023
Amounts falllng due wlthln one year:
Trade debtors
Other deblors
Prepayments and accwed income
14,975
9,142
4,745
6,854
240
4,912
28,862
12.006
19-

ST. CLEMENT DANES CHURCH FUND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
15 Credltors.. amounts falllng due wllhln one year
2024
2023
Other taxation and social securily
Tiade creditors
Accruals and defe￿ed Income
351
19,979
5.893
10,211
9,846
20.057
26,223
16 Deslgnated funds
These are designated funds which are rnalerial lo Ihe charitys activilies.
At 1 Aprll Resources
2023
èXP8nded
Transfers At 31 March
2024
847.647
(11,610>
1,943,093
2,779,130
Provlous year:
At 1 Aprll Resources
2022
expended
Tran6ferB At 31 March
2023
1,043,717
(5.340)
(190,730)
847,647
17 Unrestrlcted funds
The unreslricled funds of the tharity comprlse the unexpended balance5 of donallons and grants ￿1¢h are
not subject lo specific conditions by donors and grantors as to how they m8y be used. These include
designated funds which have been sel aside out ol unreslricled funds by Ihe Iruslees for specific purposes.
At 1 Aprll
2023
Incomlng Resources
resources
expended
Transfers
Galn5 and At 31 Marcl)
losses
2024
General funds
100,000
2.290,723
(39B.333) (1.943.093)
50,703
100,000
Prevlous year:
Al 1 Aprll
2022
Incoming
resources
Resources
expended
Transf8r8
Galn5 and At 31 March
Ioss8S
2023
General funds
100.000
266.251
(396.822)
190.730
(60,159)
100,000
18 Related party lransacllons
There were no related party Iransaclions Ihal require disdosure In the pertcxl und8r review (2023 - none).
-20-

ST. CLEMENT DANES CHURCH FUND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
19 Taxatlon
As a diarity St. Clements Danes Church FurKI is exempt from income and gains falling within section 466493
of lh8 Corporation Tax Act 201010 the exlent that these are derived from ils charitable activities.
20 Capltal commltments
There were no Gqpilal commilments not provided for in the financial statemenls (2023 - none).
21 Restrlcted funds
Movèmenl In funds
Incomlng
Re8ourco8
Balance at
T•sourus
•xpènd8d l Aprll 2023
Movement In funds
Sncomlng
R8sourc88
Balanco al
r•$our¢•8
oMpend¢d 31 Mor¢h 2024
8alan¢o ¥1
1 Aprll 2022
Holy
Sacramenl
Organ
Scholarshlp
RAF 100
1941 Appeal
500
500
500
929
336
29,940
929
136
63,557
929
136
86,079
(200)
(1,546)
35,163
23,329
(807)
31,705
35,163
{1.746)
65,122
23,329
<807)
87,644
21

Lfj V