**Company registration number 11142467 (England and Wales) Charity registration number 1177879 (England and Wales)**
## **ST PETER'S CHARITY**
# **ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025**
## **ST PETER'S CHARITY**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
|**Trustees**|M Fellowes-Freeman (Chair)|
|---|---|
||A Grimshaw|
||N Whaley|
||K Maynard|
||L Brierley|
||M Breadmore|
||R Antao|
||G Collins|
||R Hill|
||H Sloan|
||M Rudall (appointed December 2024,|
||becoming a full voting member in June|
||2025)|
||N Thomas (appointed December 2024,|
||becoming a full voting member in June|
||2025)|
|**Charity number**|1177879|
|**Company number**|11142467|
|**Chief Executive**|M Hutchinson|
|**Registered office**|St Columba's House|
||Maybury Hill|
||Woking|
||Surrey|
||GU22 8AB|
|**Auditor**|Alliotts LLP|
||3 London Square|
||Cross Lanes|
||Guildford|
||GU1 1UJ|
|**Solicitors**|Moore Barlow LLP|
||The Oriel|
||Sydenham Road|
||Guildford|
||Surrey|
||GU1 3SR|
|**Investment advisors**|Rathbone Brothers Plc|
||8 Finsbury Circus|
||London|
||EC2M 7AZ|
## **ST PETER'S CHARITY**
## **CONTENTS**
||**Page**|
|---|---|
|Trustees' report|1 - 12|
|Statement of trustees' responsibilities|13|
|Independent auditor's report|14 - 17|
|Statement of financial activities|18|
|Summary income and expenditure account|19|
|Balance sheet|20 - 21|
|Statement of cash flows|22|
|Notes to the financial statements|23 - 39|
## **ST PETER'S CHARITY**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)** _**FOR THE YEAR ENDED 31 DECEMBER 2025**_
The trustees present their annual report and financial statements for the year ended 31 December 2025.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statement and comply with the charitable company’s Articles of Association, the Companies Act 2006 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1st January 2019).
## **Overview**
St Peter’s Charity was founded in 1861 as a nursing order of religious sisters in the Church of England. Today the Charity continues their work by running St Columba’s House Retreat and Conference Centre in Woking and a small grant making trust.
2025 was a busy year for St Peter’s Charity with multiple projects taking place on top of our usual work.
We completed a full domestic house refurbishment, adding that property to our rental portfolio. We also invested in our IT infrastructure across the charity, updating hardware and moving to cloud based systems.
At St Columba’s House we also improved our IT, launching a CRM (client relationship management) marketing database and moving our House Programme events to online bookings through Eventbrite. Buildings works in the main house included upgrading the lighting in our chapel, refurbishing four bedrooms and ensuite bathrooms in St Columba’s House, performing roof repairs to the main building and recarpeting and redecorating some of our meeting rooms.
St Columba’s House was busy for much of year with a wide range of guests: from Christian groups, to choirs and from charities to hobby groups. Usage of the house grew slightly in the year and our bookings diary for 2026 and beyond looks busy. The rise in inflationary costs of staff, food, and power have all made the operating environment more challenging for St Columba’s House, despite the increasing bookings income. Controlling costs where possible will be a key factor for 2026.
Mother Angela, the last remaining nun of the now closed Sisterhood of St Peter, has continued to be actively engaged with the work of the Charity and is a regular visitor to St Columba’s House and a key member of our grant making committee. In 2025 we joined Mother Angela to celebrate her 60 years of religious life with a service and a party in her honour.
We have continued with our Relief in Sickness grant making programme, subsidising additional grant making from
our general funds.
The charity’s bottom line saw growth due to increasing stock market valuations and increasing property values of our investment properties.
The operating climate remains challenging with rising costs and increasing global insecurity and market instability. However, we are confident that the Charity is in a strong financial position and that we can plan for growth even in these difficult times.
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## **ST PETER'S CHARITY**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2025**_
## **Objectives and activities**
1. The advancement of the Christian religion for the public benefit by the support of Christian activity at home and/or overseas. This may be achieved by means of supporting Christian religious and lay communities (with special regard to members of the Sisterhood of St Peter and their dependants as at 1 January 2017), Christian organisations and/or the provision of retreat, spiritual and/or educational opportunities and facilities, taking account of the charity’s Anglican origins and ethos.
2. The preservation and protection of health and well-being of mind, body and spirit for the public benefit. This may be achieved by means of the provision of grants or facilities and/or support to individuals or organisations, in associated areas of healthcare, such as end of life care, disability and healthcare research.
3. For the public benefit for the relief of those in need due to ill-health, disability, hardship, bereavement or poverty, by the making of grants to individuals and /or organisations or the provision of services and facilities.
4. For the public benefit to carry out such other charitable work as the trustees from time to time determine.
St Peter’s Charity and St Peter’s Home and Sisterhood share the same Charitable Objects.
The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charitable company should undertake and to the Charity Commission’s guidance on public benefit. The charity runs St Columba’s House Retreat and Conference Centre, supports the remaining Sister and runs a small grant making trust. Further details on each of these activities is given on the following pages.
## **Charitable Structure**
These are the sixth set of audited accounts for St Peter’s Charity which became operational in 2020. However, the work of the Charity has been going on since its foundation in 1861. In 2020 we completed the transfer from being a religious community of Anglican sisters (and an unincorporated charitable trust) to a lay led charitable company limited by guarantee (reg charity number 1177879). There is a linked charity, called St Peter’s Home and Sisterhood (reg charity number 1177879-1) which retains the funds endowed to the original charity for healthcare work with the poor. These endowed funds form the capital of our Relief in Sickness programme of grant making.
## **Consolidated Accounts**
The Accounts on the following pages are consolidated accounts. They consolidate the financial transactions of both St Peter’s Charity and St Peter’s Home and Sisterhood.
## **Achievements and performance**
## _**Care of Sisters and Dependants**_
Mother Angela continued in good health throughout 2025. Mother Angela has been supported in independent living throughout the year by her carer who is employed by St Peter’s Charity. She regularly visits her friends at St Mary’s nursing home in Chiswick where she enjoys the support and companionship of the Sisters of the Community of St Margaret. Her Chaplain continues to contact her regularly to support her in her religious life.
A particular highlight of her year was Mother Angela’s 60th Anniversary of taking her final vows. A service was held in the chapel of St Columba’s House together with a lunch. To mark the occasion the Charity re-named one of its meeting rooms as “Mother Angela”, together with a permanent display in the room about Mother Angela’s religious life.
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## **ST PETER'S CHARITY**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2025**_
The celebrations also included a visit by Mother Prisca and Sister Esther from the Society of the Holy Cross in Korea. It was wonderful to renew bonds with the Korean sisters, who celebrated their centenary of founding in 2025. The Order of the Holy Cross, based in Seoul, South Korea, was founded in 1925 following a mission by members of St Peter’s Sisterhood from London and Woking who had been working as missionary sisters in Korea since the late 19th Century.
A grant of £10,000 was given to the Sisters of the Holy Cross in 2025 to celebrate this centenary and to support their work, especially recognising the growth of their Sisterhood in Myanmar (formerly Burma).
## _**Relief in Sickness Grant Making**_
The Charity’s Relief in Sickness fund comes from an endowment arising from donations given by Victorian (and later) benefactors who wished to fund beds for the poor in the hospitals run by the Sisters of St Peter. When the last hospital closed in the 1980s, the endowment was repurposed, in agreement with the Charity Commission, and a grant making trust was formed in 1989.
The Charity grants the restricted income received from endowed funds each year and grant making is therefore prone to changes in line with stock market performance. However, the Charity uses its discretion to top up funds for grant making from its general funds.
The sub-committee of Trustees meet once a year to consider grant requests and to allocate the restricted income from endowed, invested funds as set out in a Charity Commission scheme. The scheme set up in November 1989 allows for grants to be made under the following criteria:
“for the purposes of relieving in cases of need poor persons who are sick, convalescent, disabled, handicapped or infirm by providing or paying for items, services, or facilities which are calculated to alleviate the suffering or assist the recovery of such persons in such cases but are not readily available to them from other sources. The Trustees may make arrangement for such services or facilities to be provided for that purpose by other institutions or organisations in return for donations out of the income of the Charity.”
In addition, Trustees have added further criteria to keep grant applications at a manageable level. These are: a preference for grants to be made to local charitable organisations which deliver direct support to those with illness or disability in financial need or not means assessed, together with a preference for projects which are not salary costs.
The grant making work of the charity is not widely advertised as the number of grants the charity is able to make are
small and our administrative capacity very limited.
We aim to make a difference with our Relief in Sickness grant making programme guided by our Charitable Object “For the public benefit for the relief of those in need due to ill-health, disability, hardship, bereavement or poverty, by the making of grants to individuals and /or organisations or the provision of services and facilities.”
Trustees decided to increase the amount of subsidy available for grant making from general funds in 2025. The income from the Relief in Sickness endowment was disappointing in 2025. As a result of this disappointing performance it was decided to move the funds into a pooled fund held by Rathbones to generate more income and reduce fee costs in future years. This change took place in August 2025. Grants were made to the total of £57,154 of which £23,159 was from endowed income (net of fees) and £33,995 from general funds income.
A full list of those organisations in receipt of grants in 2025 can be found at note 8.
Quotes from a selection of grant recipients:
**Challengers:** “The generous funding which Challengers received from St Peter’s Charity helped us to provide fun, inclusive and exciting opportunities for disabled young people aged 13-18 at our Farnham Youth scheme….58 disabled young people enjoyed 2136 hours of fun over 17 sessions…the young people that we were able to support were able to build confidence and friendship at a vital stage in their life as they make the transition to adulthood.”
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## **ST PETER'S CHARITY**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2025**_
**Talk:** “The support offered to people with aphasia through our group which is funded by St Peter’s Relief in Sickness Fund reduces social isolation and improves communication. One of our attendees said “Before I waited for my wife to come with me, now I don’t care. I go and fill the car up on my own, bank on my own…TALK builds confidence in you…you can do what you want to do. Don’t worry, go do it!””
**LinkAble** : “The grant has made an enormous difference to the lives of local people with a learning disability and/or autism. The funding has allowed us to continue all our successful adults groups and trial new groups that are cocreated with the people we support….At the same time, parents get a break from the demands of caregiving for a while which allows them to return to caring with renew energy.”
**Brigitte Trust:** “Our clients access our volunteer led home visiting service to reduce isolation, provide practical help and in some instances – to relieve a carer. Over the last year we have supported 422 people with a life limiting condition.”
## _**St Columba’s House**_
2025 saw an increase in trading income compared to the previous year. This rise was above the level of price rise so is a rise in real terms but, at 1.3% above the price rise, it was a very modest level of growth compared to past years.
Expenditure also rose for the year, remaining within budget but challenging the financial long term sustainability of St Columba’s House as core costs such as wages, power and food saw dramatic increases in addition to planned spending on facilities projects. Trustees feel that current costs are acceptable for the short term but are keeping a watchful eye on costs when thinking about the medium to long term.
St Columba’s House hosted a wide range of residential guests throughout the year including: Military chaplains, choirs, the Mother’s Union, Pentecostal Church weekends, Church of England clergy training, Creative writing groups, charity board awaydays, retreats for people who have lost a close relative or friend through manslaughter or murder, Roman Catholic Deanery meetings, Evangelical worship leaders, Baptist ministry prayer retreats and many more. We welcomed more of the Second Stage Discernment Panels (formerly known as BAPS), the residential candidate selection process for Anglican ordination, than we ever have before and are very pleased that even more are in the diary for 2026 and 2027. We also hosted the Catholic Medical Missionary Sisters for 4 weeks in August/ September 2025, with Sisters arriving from across the world for their Generalate meeting and their own Centenary celebrations.
In 2025 St Columba’s House hosted a full event list “House Programme” events which we originate, host and lead. Our House Programme continues to grow in popularity. Particular highlights included the return of Mark De Lisser for a weekend workshop of Gospel singing, two art exhibitions, a series of retreats reflecting on the seasons, and a large number of art and craft events. We also had very good attendance levels and wonderful feedback from many of our other events including our programme of Quiet Mondays, music events and our mindfulness and contemplative prayer events. We offer a mix of free (donations optional) events and charged for events. We intend to continue our programme in future years retaining both the mix of topics and of charging rates.
Increasingly we are finding social media is bringing new people to the House and we are exploring new ways to engage such as increasing video content, developing our own YouTube channel and increasing our presence on Instagram.
We have invested in our marketing with the hiring of a new role, a Marketing Assistant, taking place in early 2025, and the development of a CRM system which should become a useful tool in 2026. We have continued to use social media to promote our events and have found that switching our booking of House Programme to Eventbrite has widened the number and the demographics of those attending House Programme events.
In Summer 2025 we held two Open Days, hiring a coffee van to create a pop-up community cafe on the upper lawn at St Columba’s House. Across the two days 100 people attended, many of whom had never been before, we were very pleased with these events, especially given the unseasonably overcast and chilly weather.
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## **ST PETER'S CHARITY**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2025**_
We did a few facilities projects in 2025, one of which has been capitalised and will be spread over a number of years in our published accounts, others have the full cost shown in our accounts, leading to a higher than usual level of expenditure for the Charity on St Columba’s House:
- New Chapel Lighting System – replacing a halogen system with an LED system. (Capitalised)
- The third tranche of 4 ensuite bedroom refurbishments, creating a more up to date, warmer and more welcoming bedroom environment for guests. This project will continue over the next five years. (Not capitalised)
- IT upgrades including new computers, a switch to Microsoft Cloud services, a new printer/copier, the CRM first stages of development and the switch to Eventbrite. (the hardware component of this project is capitalised, the rest not capitalised)
- Meeting room carpet renewal (Not capitalised)
- Replacement of dining room and foyer chairs (Not capitalised)
- The creation of a new buffet service area in the refectory (Not capitalised)
The table below compares guest numbers at St Columba’s House across the last six years. Both 2020 and 2021 were severely affected by multiple lockdowns and Covid restrictions, 2022 was more mildly affected by Covid restrictions. The table shows that numbers of individuals visiting St Columba’s House has not regained its pre-Covid high, however, this is in large part due to longer residential stays by groups and therefore fewer larger day groups using the House. This switch is a positive change in terms of increasing bookings income and driving a better level of sustainability for the House.
St Columba’s House visitor numbers
|2019|2020|2021|2022|2023|2024|2025|
|---|---|---|---|---|---|---|
|3,923|1,107|885|2,807|2,894|3,263|2,894|
A selection of feedback from some of our guests in 2025:
“A welcoming and restful place, ideal for reflection. An ideal setting to meet with the Board to discuss/pray/explore the direction of our charity” Prison Fellowship
“Beautiful. An oasis and a hidden treasure. A blessing. I am very refreshed by my stay” St Barnabas, Kensington
“Our church is going through a season of bereavement currently – this stay helped to encourage me” Trinity Baptist Church
“The Spirit of Christ permeates this place and people. I experience rest and renewal in the midst of meetings and discussions.” ICETE
“It was a much needed time for prayer and learning, in an excellent retreat setting/facility. Thank you.” Guildford Diocese “Time to reflect, ponder and make decisions. Enriching. Every one of you has been welcoming, helpful, professional and kind. You help make this writing retreat an enriching experience for us all” Write Away writing retreats
“I had the space to rest in God’s embrace and listen in the silence” Association for the Promotion of Retreats
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## **ST PETER'S CHARITY**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2025**_
A selection of feedback from some of our guests in 2024/25:
“We greatly appreciated the hospitality we received from you. The accommodation and food were excellent, and the staff were very helpful and friendly.” European Mennonite Leaders Conference
_“_ Thank you so much for looking after us so well. Nothing has ever been a trouble – from emails to the office staff, the warm welcome on arrival and the unobtrusive hospitality throughout our stay.” Franciscan Third Order Retreat group
“Thank you very much for your kind hospitality during our international board of trustee’s week. This a beautiful and holy place. You have made our stay all the more pleasant. Blessings - from the Mothers Union”
_“_ We had a lovely time with you and although it has been several years since we were last there it felt home from home. We noticed that you had upgraded and changed some things which was appreciated” local community church group
“As always, thank you for your support in making our retreat times so very special” regular retreat group
“St Columba’s House sustains my soul (through quiet days, retreat events and meditation sessions) and also assists my role as a local minister (with local, appropriate facilities for church away day events etc.). It is very much valued by local clergy, church communities and individual Christians.
I'm just so glad you are there. Sometimes I think you make the difference between me being able to cope and falling apart. THANK YOU!” Local Methodist Minister
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## **ST PETER'S CHARITY**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2025**_
## **Financial review**
## _**Income**_
The charity has a number of income streams explained below. Very little comes into the charity as voluntary donations and the charity does not actively fundraise from the public beyond the presence of a donation box and a “donation station” e-donation terminal in the foyer of St Columba’s House. We have plans to add a “donation” button to our website during 2026. Where donations are received, they are mostly from users of St Columba’s House. We claim Gift Aid where possible, including through the Gift Aid Small Donations Scheme. There is no use of professional fundraisers.
Investment income is received from listed investments, managed by Rathbones PLC and from five investment properties in the local area. An investment property was added to the rental portfolio in 2025, generating income from March 2025. Both investment streams are included in the investments row in the table below.
Income from charitable activities is received from trading at St Columba’s House (both bookings and sales from our book and gift stalls) and a small amount of income from the pension of the last remaining Sister of the Sisterhood. These income streams are shown as charitable activities in the table below.
In 2025 Charitable income rose modestly, rental income rose due to the additional property, but stock market investments performed disappointingly with a drop income compared to the previous few years. The table below gives a quick comparison of income performance over the last seven years. 2019 figures are from audited accounts for St Peter’s Home and Sisterhood. 2020 figures have been adjusted from audited accounts to remove the one-off transfer of undertakings from the old charity structure to the new charity. Figures for 2021 to 2024 are unadjusted figures from audited accounts for St Peter’s Charity. No government funding was received in 2025. Government funding was received during the Covid years of 2020, 2021 and 2022 as shown in the table below.
|below.||||||||
|---|---|---|---|---|---|---|---|
|**Income from:**|**2019**|**2020**|**2021**|**2022**|2023|2024|**2025**|
|**Grants,**
**Donations**
**&**
**Legacies**|
£2,408|£88,686|£113,638|£9,688|£7,291|£19,540|**£9,557**|
|**Charitable**
**Activities**|£256,203|£83,506|£90,914|£199,798|£285,828|£281,914|**£314,976**|
|**Investments**|£389,444|£297,540|£321,291|£356,406|£393,790|£393,783|**£383,180**|
|**Other income**|£807|£0|£943|£0|£0|£0|**£0**|
|**Total**|£648,862|£469,732|£526,786|£565,892|£686,909|£695,237|**£707,713**|
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## **ST PETER'S CHARITY**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2025**_
## _**Expenditure**_
The largest area of expenditure for the Charity is St Columba’s House, followed by property maintenance and our grant making. In the past, the largest area of expenditure had been care costs for the Sisterhood and their dependents. As their numbers have dwindled, this area of expenditure reduced. The Charity currently has no one in residential care meaning our expenditure on care is currently low compared to the recent past but this is subject to change.
The care of the Sisterhood, grant making (the portion not covered by restricted income being disbursed) and St Columba’s House costs show as expenditure on charitable activities in the table below.
The costs of fundraising shown in the table below and later in the annual accounts is solely the cost of investment management services from Rathbones. 2023 saw a temporary drop in fees because in 2023 the Charity benefitted from a 3 month fee holiday on retaining Rathbones as our investment managers following a review. Other years have generally seen stable levels of cost.
Expenditure jumped by just over £100,000 from 2024 to 2025. This is explained mainly by the high buildings and facilities expenditure but also because of high levels of inflation affecting our day to day costs. Expenditure from 2019 to 2024 kept below inflation for the period each year, including 2024 which saw big inflationary jumps. The 2025 increase was 13% up on the previous year (inflation was between 3-4% during the year).
The table below shows a quick comparison in operating expenditure from 2019 to 2025 (2019 figures are for St Peter’s Home and Sisterhood).
||**2019**|**2020**|**2021**|**2022**|2023|2024|**2025**|
|---|---|---|---|---|---|---|---|
|Charitable
Activities|£708,879|£587,288|£539,438|£629,032|£705,483|£794,671|**£911,630**|
|Fundraising
costs|£57,476|£62,223|£68,391|£63,272|£48,178|£60,382|**£59,164**|
|Total|£766,355|£649,511|£607,829|£692,304|£753,661|£855,053|**£970,794**|
The shortfall between our income and expenditure is met by drawing down cash from our unrestricted listed investment portfolio. The charity aims to drawn down monies from our investment portfolio on a sustainable total return basis. See below for further details on our investment approach. A number of steps have been taken to reduce expenditure in 2026 including renegotiation of some contracts, reducing the number of planned projects, switching to a cheaper accounting system and reducing the cost of the production of management accounts. Costs continue to be closely monitored.
## _**Balance Sheet Valuations**_
Because St Peter’s Charity and St Peter’s Home and Sisterhood hold considerable amounts of listed investments, our balance sheet is affected heavily by market performance. The scale of rise and fall in investment values tends to dwarf operational performance by the charity. 2025 showed a gain of £435,926 on our stock market investments at the end of the year. Unfortunately, at the time of writing this report at the end of April 2026 the 2025 gains have been lost due to market instability following US military action in Iran and values for 2026 look challenging going forwards.
The rise in value of investments has made the Charity’s balance sheet bottom line higher than the previous year despite the operating deficit.
Trustees are well aware that the value of investments, including property, can go down as well as up and are subject to market conditions.
The charity owns 5 properties which are held for investment purposes and which are let to produce income. These are professionally revalued each year. The 2025 valuation was lower than the previous year for all our commercially let properties.
The main tangible assets of the charity are St Columba’s House and its land (including Redwood House annexe) and one other house in charitable use. The balance sheet value of St Columba’s House is depreciating over the life of the assets.
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## **ST PETER'S CHARITY**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2025**_
## _**Risk**_
Trustees have assessed the major risks to which the Charity is exposed and are satisfied that systems are in place to mitigate exposure to major risks. The main risks are investment fluctuations, care costs for the remaining sister, emergency repairs to buildings and the cancellation of bookings at St Columba’s House. Each year the Trustees consider a risk assessment report from the Chief Executive, together with a risk register outlining the risks faced by the Charity.
## _**Investment Policy, Objectives and Performance**_
The Charity invests for the long term and has adopted a policy which seeks to balance the need to maintain the real value of our assets and to provide income. A new investment policy was approved in 2023 for St Peter’s Charity and the endowed funds which has been reviewed and retained annually since then. Since 2023 the Charity takes a total return approach to its investments in the General Fund.
The ethical elements of the policy are informed by the investment policy of the Church of England which Trustees consider when reviewing the Charity’s own investment policy.
The total return performance of the portfolio is not reported in the audited accounts but stood at 1.6% for the year 2025.
Trustees are aware of the likelihood of market volatility in a long term portfolio and continue to monitor this.
Trustees take a long term view of equity investment values. The charity’s investments over the long term have generally performed in excess of market benchmarks. However, 2025 like 2022-2024 performed below benchmark. This is a concern but Trustees note the difficult investing environment during the year and remain confident that the Charity’s investments are well managed.
## _**Reserves Policy**_
The reserves policy is reviewed each year by Trustees. In September 2020 the Trustees approved the following policy. No changes other than changes to the values of funds were made in 2025.
1. The Trustees are mindful of the Charity Commission description of Reserves as: _"that part of a charity's unrestricted funds that is freely available to spend on any of the charity's purposes. This definition excludes restricted income and endowment funds, although holding such funds may influence a charity's reserves policy. Reserves will also normally exclude tangible fixed assets held for the charity's use and amounts designated for essential future spending."_ (Charity Commission Publication "Charities and Reserves" Sect C2)
2. In line with this definition, the Trustees do not count the Relief in Sickness Fund as a reserve because it consists of endowed and restricted funds which were donated to the charity in the past. These funds are held by St Peter’s Home and Sisterhood (registered charity number 1177879-1). The capital of the endowment may not be spent but must be retained to produce income for other charitable causes. Normally, the income is dispersed in the year it is received in accordance with a scheme agreed with Charity Commission in 1989.
3. Of the unrestricted funds available to the Trustees, they have designated the following for current and future purposes:
a. The Land & Property Fund. This represents the value of St Columba's House, Woking and certain other properties in the Woking area which are regarded by trustees as central to its charitable mission.
b. The Future Care Costs Fund. This is set aside to guarantee the long-term costs of residential care for the member of the sisterhood who remains should the income of the charity not provide sufficient funds.
c. The Winding Up Costs Fund. This is set aside to cover essential legal and contractual expenses which would be incurred if it ever became necessary to wind up the charity.
d. The Income Fund. This is set aside to generate the income necessary to cover the day to day expenses of running the charity including supporting the work of St Columba's House and providing care for the remaining members of the Sisterhood. The income may also be used on occasion to supplement the grants from the Relief in Sickness Fund for further charitable work in line with the foundation documents.
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## **ST PETER'S CHARITY**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2025**_
4. The remaining unrestricted, undesignated funds available to the Trustees constitute the charity’s reserve which consists of:
a. Certain investment properties in the Woking area which are let commercially. They generate rental income and could be sold if the need arose.
b. A sum of cash available to operate the charity on a day-to-day basis. It is considered that this should represent about 4 months of operating costs, that is to say, £250,000.
5. The Trustees review the reserves and designations annually in the light of evolving circumstances. As at **31 December 2025** the values of the various elements of the unrestricted funds were as follows:
|Designated Land & Property Fund|£2,211,057|
|---|---|
|Designated Future Care Costs Fund|£1,250,000|
|Designated Winding up Costs Fund|£250,000|
|Designated Income Fund|£9,030,130|
|Reserve - Investment Properties|£2,785,000|
|Reserve - Operating Cash|£250,000|
|**TOTAL UNRESTRICTED FUNDS**|**£15,776,207**|
6. The Trustees believe that their deployment of resources is appropriate to the current needs of the charity.
7. At the end of the year the Charity had negative free reserves of £28,722 (2024 positive reverses: £20,662), reflecting the fact that funds sit primarily with the investment managers and are drawn down as required.
The Trustees have assessed the major risks to which the charitable company is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
## **Structure, governance and management**
St Peter’s Charity is a company limited by guarantee (no.11142467) governed by its Memorandum and Articles of Association from incorporation on 10th January 2018. It is also registered as a charity with the Charity Commission of England and Wales (no. 1177879). St Peter’s Home and Sisterhood is a subsidiary charity also registered with the Charity Commission of England and Wales (no. 1177879-1). St Peter’s Home and Sisterhood has a corporate trustee which is St Peter’s Charity.
The Trustees, who are also Directors and Members for the purposes of company law, and who served during the year and up to the date of signature of the financial statements were:
M Fellowes-Freeman (Chair) A Kimber (Resigned 12 June 2025) A Grimshaw N Whaley K Maynard L Brierley M Breadmore R Antao G Collins R Hill H Sloan M Rudall (appointed December 2024, becoming a full voting member in June 2025) N Thomas (appointed December 2024, becoming a full voting member in June 2025)
- 10 -
## **ST PETER'S CHARITY**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2025**_
## _Recruitment and appointment of trustees_
A Trustee shall be appointed by the Board of Trustees or by ordinary resolution. A Trustee shall be appointed for a term of office of three years up to a maximum term of 9 years.
None of the Trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £10 in the event of a winding up.
## _**Organisational Structure**_
## **St Peter’s Charity Staff**
Permanent, part time contracts: Chief Executive – Marguerite Hutchinson Finance Manager Maintenance Co-ordinator Carer
## **St Columba’s House Staff**
Permanent, full time contract: Catering Manager Front of House Administrator
Permanent, part time contracts: Front of House Team Leader Programme Co-ordinator Front of House Administrator Cook 3 general assistants Marketing Manager Marketing Assistant
The contracted full time equivalent for the whole Charity is **8.29 FTE** .
## **Casual staff**
7 Bank staff cover overnight and weekend shifts as needed 4 bank staff assist with food service when necessary.
## **Volunteers**
The charity welcomes volunteers who have helped us in a variety of ways – leading house programme events, gardening, providing artwork for exhibitions, leading worship, offering advice and mentoring. We estimate 35 working days were fulfilled by volunteers in 2025.
Applications for employment by disabled persons are always fully considered, bearing in mind the aptitudes of the applicant concerned. In the event of members of staff becoming disabled, every effort is made to ensure that their employment within the charity continues and that the appropriate training is arranged. It is the policy of the charity that the training, career development and promotion of disabled persons should, as far as possible, be identical to that of other employees.
## **Auditor**
In accordance with the company's articles, a resolution proposing that Alliotts LLP be reappointed as auditor of the company will be put at a General Meeting.
- 11 -
## **ST PETER'S CHARITY**
## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2025**_
The trustees' report was approved by the Board of Trustees.
.............................. M Fellowes-Freeman (Chair) **Trustee** Date: .............................................
- 12 -
## **ST PETER'S CHARITY**
## **STATEMENT OF TRUSTEES' RESPONSIBILITIES**
## _**FOR THE YEAR ENDED 31 DECEMBER 2025**_
The trustees, who are also the directors of St Peter's Charity for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.
In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation.
The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the 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 hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
- 13 -
## **ST PETER'S CHARITY**
## **INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF ST PETER'S CHARITY**
## **Opinion**
We have audited the financial statements of St Peter's Charity (the ‘charitable company’) for the year ended 31 December 2025 which comprise the statement of financial activities, the summary income and expenditure account, the balance sheet, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 _The Financial Reporting Standard applicable in the UK and Republic of Ireland_ (United Kingdom Generally Accepted Accounting Practice).
In our opinion, the financial statements:
- give a true and fair view of the state of the charitable company's affairs as at 31 December 2025 and of its incoming resources and application of resources, for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Companies Act 2006.
## **Basis for opinion**
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the _Auditor's responsibilities for the audit of the financial statements_ section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
## **Conclusions relating to going concern**
In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
## **Other information**
The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
## **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 requires us to report to you if, in our opinion:
- the information given in the financial statements is inconsistent in any material respect with the trustees' report; or
- sufficient accounting records have not been kept; or
- the financial statements are not in agreement with the accounting records; or
- we have not received all the information and explanations we require for our audit.
- 14 -
## **ST PETER'S CHARITY**
## **INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF ST PETER'S CHARITY**
## **Responsibilities of trustees**
As explained more fully in the statement of trustees' responsibilities, the trustees, who are also the directors of the charitable company for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
## **Auditor's responsibilities for the audit of the financial statements**
We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.
- 15 -
## **ST PETER'S CHARITY**
## **INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF ST PETER'S CHARITY**
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 competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
- we identified the laws and regulations applicable to the charitable company through discussions with trustees and other management, and from our knowledge and experience of the sector;
- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the charitable company, including the Companies Act 2006, the Charities Act 2011, taxation, employment, environmental and health and safety legislation;
- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting any legal correspondence; and
- identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.
We assessed the susceptibility of the charitable company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud;
- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.
To address the risk of fraud through management bias and override of controls, we:
- performed analytical procedures to identify any unusual or unexpected relationships;
- tested journal entries to identify unusual transactions;
- assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and
- investigated the rationale behind significant or unusual transactions.
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
- agreeing financial statement disclosures to underlying supporting documentation;
- reading the minutes of meetings of the board of trustees;
- enquiring of management as to actual and potential litigation and claims; and
- reviewing correspondence with HMRC.
There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the trustees and other management and the inspection of regulatory and legal correspondence, if any.
Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
- 16 -
## **ST PETER'S CHARITY**
## **INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF ST PETER'S CHARITY**
## **Use of our report**
This report is made solely to the charity’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity’s trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.
Alliotts LLP Chartered Accountants Statutory Auditor 3 London Square Cross Lanes Guildford GU1 1UJ Date: .........................
Alliotts LLP is eligible for appointment as auditor of the charitable company by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.
- 17 -
## **ST PETER'S CHARITY**
## **STATEMENT OF FINANCIAL ACTIVITIES**
## _**FOR THE YEAR ENDED 31 DECEMBER 2025**_
|**Unrestricted**
**funds**
**2025**
**Notes**
**£**
**Income from:**
Donations and
legacies
**3**
9,557
Charitable
activities
**4**
314,976
Investments
**5**
351,232
**Total income**
675,765
**Expenditure**
**on:**
Raising funds
**6**
50,375
Charitable
activities
**7**
854,476
Other
expenditure
**12**
3,337
**Total expenditure**
908,188
**Operating result**
(232,423)
Net gains/
(losses) on
investments
**13**
344,560
**Net income/**
**(expenditure)**
112,137
Transfers
between funds
(33,995)
**Net movement**
**in funds**
78,142
**Reconciliation of funds:**
Fund balances at 1
January 2025
15,698,065
**Fund balances at 31**
**December 2025**
15,776,207|**Restricted Endowment**
**funds**
**funds**
**2025**
**2025**
**£**
**£**
-
-
-
-
31,948
-
31,948
-
8,789
-
57,154
-
-
-
65,943
-
(33,995)
-
-
91,366
(33,995)
91,366
33,995
-
-
91,366
-
2,053,095
-
2,144,461|**Total**
**Unrestricted**
**funds**
**2025**
**2024**
**£**
**£**
9,557
19,540
314,976
281,914
383,180
341,897
707,713
643,351
59,164
51,713
911,630
744,821
3,337
-
974,131
796,534
(266,418)
(153,183)
435,926
1,571,649
169,508
1,418,466
-
(6,633)
169,508
1,411,833
17,751,160
14,286,232
17,920,668
15,698,065|**Restricted Endowment**
**funds**
**funds**
**2024**
**2024**
**£**
**£**
-
-
-
-
51,886
-
51,886
-
8,669
-
49,850
-
-
-
58,519
-
(6,633)
-
-
103,542
(6,633)
103,542
6,633
-
-
103,542
-
1,949,553
-
2,053,095|**Total**
**2024**
**£**
19,540
281,914
393,783
695,237
60,382
794,671
-
855,053
(159,816)
1,675,191
1,515,375
-
1,515,375
16,235,785
17,751,160|
|---|---|---|---|---|
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
- 18 -
## **ST PETER'S CHARITY**
## **SUMMARY INCOME AND EXPENDITURE ACCOUNT**
## _**FOR THE YEAR ENDED 31 DECEMBER 2025**_
|**All income funds**
**2025**
**£**
Gross income
**707,713**
Gains on investments
**344,560**
Total income in the reporting period
**1,052,273**
Total expenditure from income funds
**974,131**
**Net income for the year**
**78,142**|2024
£
695,237
1,571,649|
|---|---|
||2,266,886
855,053|
||1,411,833|
The above (losses)/gains on investments includes unrealised (losses)/ gains on the revaluation of assets as detailed in note 12.
- 19 -
## **ST PETER'S CHARITY**
## **BALANCE SHEET**
## _**AS AT 31 DECEMBER 2025**_
|**Notes**
**Fixed assets**
Tangible assets
**15**
Investment properties
**16**
Investments
**17**
**Current assets**
Stocks
**18**
Debtors
**19**
Cash at bank and in hand
**Creditors: amounts falling due within**
**one year**
**20**
Net current (liabilities)/assets
**Total assets less current liabilities**
**Deferred income**
**21**
**Net assets**
**Capital funds**
Endowment funds - general
**23**
**Income funds**
Unrestricted funds
Designated funds
**24**
General unrestricted funds|**2025**
**£**
**£**
2,308,780
2,785,000
12,855,610
17,949,390
-
12,682
89,719
102,401
(118,173)
(15,772)
17,933,618
(12,950)
17,920,668
2,144,461
12,741,207
3,035,000
15,776,207
17,920,668|**2024**
**£**
**£**
2,379,987
2,839,000
12,511,511
17,730,498
2,062
41,972
118,451
162,485
(116,044)
46,441
17,776,939
(25,779)
17,751,160
2,053,095
12,609,065
3,089,000
15,698,065
17,751,160|
|---|---|---|
- 20 -
## **ST PETER'S CHARITY**
## **BALANCE SHEET (CONTINUED)**
## _**AS AT 31 DECEMBER 2025**_
The charitable company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 December 2025, although an audit has been carried out under section 144 of the Charities Act 2011.
The trustees, as directors, acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements under the requirements of the Companies Act 2006, for the year in question in accordance with section 476.
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 on
..............................
M Fellowes-Freeman (Chair)
**Trustee**
## **Company Registration No. 11142467**
- 21 -
## **ST PETER'S CHARITY**
## **STATEMENT OF CASH FLOWS** _**FOR THE YEAR ENDED 31 DECEMBER 2025**_
|||**2025**||**2024**||
|---|---|---|---|---|---|
||**Notes**|**£**|**£**|**£**|**£**|
|**Cash flows from operating activities**||||||
|Cash absorbed by operations|**27**||(625,609)||(485,933)|
|**Investing activities**||||||
|Purchase of tangible fixed assets||(9,549)||(50,781)||
|Purchase of investment property||(7,099)||-||
|Purchase of other investments||(4,277,557)||(4,202,391)||
|Proceeds from disposal of other investments||4,507,902||4,210,335||
|Investment income received||383,180||393,783||
|**Net cash generated from investing activities**|||596,877||350,946|
|**Net cash generated from financing activities**|||-||-|
|**Net decrease in cash and cash equivalents**|||(28,732)||(134,987)|
|Cash and cash equivalents at beginning of year|||118,451||253,438|
|**Cash and cash equivalents at end of year**|||89,719||118,451|
- 22 -
## **ST PETER'S CHARITY**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 DECEMBER 2025**_
## **1 Accounting policies**
## **Charity information**
St Peter's Charity is a private company limited by guarantee incorporated in England and Wales. The registered office is , St Columba's House, Maybury Hill, Woking, Surrey, GU22 8AB.
## **1.1 Accounting convention**
The financial statements have been prepared in accordance with the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)". The charitable company is a Public Benefit Entity as defined by FRS 102.
The financial statements are prepared in sterling, which is the functional currency of the charitable company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
## **1.2 Going concern**
At the time of approving the financial statements, the trustees have a reasonable expectation that the charitable company has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
## **1.3 Charitable funds**
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charitable company.
## **1.4 Income**
Income is recognised when the charitable company is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charitable company has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charitable company has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
Deposits are received in advance of house programme events. This income is deferred as it is received before the charity becomes entitled to the income. This income is realised when the event takes place.
- 23 -
## **ST PETER'S CHARITY**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2025**_
## **1 Accounting policies**
**(Continued)**
Income for the provision of services is recognised when the service is no longer cancellable.
Investment income is recognised at the point of which dividends are paid into the investment management account.
## **1.5 Expenditure**
Resources expended are included in the Statement of Financial Activities on an accruals basis and are allocated to a specific activity where costs relate directly to that activity.
Costs of generating funds are the costs directly attributable to raising funds.
Charitable expenditure includes all costs directly relating to the objectives of the charity and the costs involved supporting that work.
Support costs include those costs connected with the management of the charity's assets, organisational management and administration and compliance with constitutional and statutory requirements. Expenditure on support costs of the charity includes all expenditure not directly related to the charitable activity or fundraising ventures. These are apportioned to the other activities based on time spent performing the activities.
## **1.6 Intangible fixed assets other than goodwill**
Intangible assets acquired separately are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
## **1.7 Tangible fixed assets**
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold land and buildings 50-100 years Fixtures and fittings 4-10 years
The historic value of the freehold land included within the freehold land and building category is not known and the trustees consider any value to be immaterial, therefore no depreciation is charged on this land.
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
Items above the value of £3,000 and of a capital nature are capitalised as fixed assets. Anything below this limit is expensed.
## **1.8 Investment properties**
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.
- 24 -
## **ST PETER'S CHARITY**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2025**_
## **1 Accounting policies**
## **(Continued)**
## **1.9 Fixed asset investments**
Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.
## **1.10 Impairment of fixed assets**
At each reporting end date, the charitable company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
## **1.11 Stocks**
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.
Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.
## **1.12 Cash and cash equivalents**
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
## **1.13 Financial instruments**
The charitable company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charitable company's balance sheet when the charitable company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
## _**Basic financial assets**_
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
- 25 -
## **ST PETER'S CHARITY**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2025**_
## **1 Accounting policies**
**(Continued)**
## _**Basic financial liabilities**_
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
## _**Derecognition of financial liabilities**_
Financial liabilities are derecognised when the charitable company’s contractual obligations expire or are discharged or cancelled.
## **1.14 Employee benefits**
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charitable company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
## **1.15 Retirement benefits**
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
## **1.16 Government Grants**
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
## **2 Critical accounting estimates and judgements**
In the application of the charitable company’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
## **Critical judgements:**
## **Income recognition**
Deposits received in advance are recognised as income when the client is no longer able to claim this back.
- 26 -
## **ST PETER'S CHARITY**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2025**_
- **2 Critical accounting estimates and judgements**
**(Continued)**
## **Key sources of estimation uncertainty:**
## **Investment properties valuation**
Investment properties are valued based on other similar properties sold in the area.
## **3 Donations and legacies**
|Donations and gifts
**Charitable**
**activities**
**Community**
**St Columba's**
**House**
**£**
**£**
Income from
charitable
activities
9,394
305,582|Donations and gifts
**Charitable**
**activities**
**Community**
**St Columba's**
**House**
**£**
**£**
Income from
charitable
activities
9,394
305,582|Donations and gifts
**Charitable**
**activities**
**Community**
**St Columba's**
**House**
**£**
**£**
Income from
charitable
activities
9,394
305,582||**Total**
**Unrestricted**
**funds**
**funds**
**2025**
**2024**
**£**
**£**
**9,557**
19,540
**Total**
**2025**
**Community**
**St**
**Columba's**
**House**
**Total**
**2024**
**£**
**£**
**£**
**£**
**314,976**
8,887
273,027
281,914|**Total**
**Unrestricted**
**funds**
**funds**
**2025**
**2024**
**£**
**£**
**9,557**
19,540
**Total**
**2025**
**Community**
**St**
**Columba's**
**House**
**Total**
**2024**
**£**
**£**
**£**
**£**
**314,976**
8,887
273,027
281,914|**Total**
**Unrestricted**
**funds**
**funds**
**2025**
**2024**
**£**
**£**
**9,557**
19,540
**Total**
**2025**
**Community**
**St**
**Columba's**
**House**
**Total**
**2024**
**£**
**£**
**£**
**£**
**314,976**
8,887
273,027
281,914|**Total**
**Unrestricted**
**funds**
**funds**
**2025**
**2024**
**£**
**£**
**9,557**
19,540
**Total**
**2025**
**Community**
**St**
**Columba's**
**House**
**Total**
**2024**
**£**
**£**
**£**
**£**
**314,976**
8,887
273,027
281,914|
|---|---|---|---|---|---|---|---|
||||||||**Total**
**2024**
**£**
281,914|
|||||||||
|**Investments**||||||||
|**Unrestricted Restricted**
**funds**
**funds**
**£**
**£**
Income from listed
investments
247,064
31,948
Rents from investment
properties
102,705
-
Interest receivable
1,463
-
**351,232**
**31,948**|||**Total**
**Unrestricted **
**2025**
**funds**
**£**
**£**
**279,012**
265,639
**102,705**
75,695
**1,463**
563
**383,180**
341,897|||**Restricted**
**funds**
**£**
51,886
-
-
51,886|**Total**
**2024**
**£**
317,525
75,695
563|
||||||||393,783|
## **4 Charitable activities**
## **5 Investments**
- 27 -
## **ST PETER'S CHARITY**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2025**_
## **6 Raising funds**
|**Unrestricted Restricted**
**funds**
**funds**
**2025**
**2025**
**£**
**£**
Investment management
fees
44,287
8,789
Lettings agent fees
6,088
-
**50,375**
**8,789**|**Total**
**Unrestricted Restricted**
**2025**
**funds**
**funds**
**2025**
**2024**
**2024**
**£**
£
£
**53,076**
44,377
8,669
**6,088**
7,336
-
**59,164**
51,713
8,669|**Total**
**2024**
**2024**
£
54,294
6,088|
|---|---|---|
|||60,382|
- 28 -
##
||**Total**|**2024**||**£**|226,365|98,594|60,864|14,555|66,971|467,349|55,878|260,373||11,071||794,671|||744,821|49,850|794,671|
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
||**St**
**Relief In**|**Columba's**
**Sickness**|**House**
**Fund**|**£**
**£**|226,365
-|94,643
-|53,021
-|14,555
-|66,971
-|455,555
-|-
49,850|143,205
-||6,089
-||604,849
49,850|||604,849
-|-
49,850|604,849
49,850|
||**Community**|**&**|**Dependants**|**£**|-|3,951|7,843|-|-|11,794|6,028|117,168||4,982||139,972|||139,972|-|139,972|
||**Total**|**2025**||**£**|**275,259**|**142,108**|**70,708**|**16,328**|**70,278**|**574,681**|**67,154**|**251,307**||**18,488**||**911,630**|||**854,476**|**57,154**|**911,630**|
||**Relief In**|**Sickness**|**Fund**|**£**|-|-|-|-|-|-|57,154|-||-||**57,154**|||-|57,154|**57,154**|
||**St Columba's**|**House**||**£**|275,259|139,495|60,699|16,328|70,278|562,059|-|138,219||10,168||**710,446**|||710,446|-|**710,446**|
||**Community &**|**Dependants**||**£**|-|2,613|10,009|-|-|12,622|10,000|113,088||8,320||**144,030**|||144,030|-|**144,030**|
|**Charitable activities**|||||Staff costs|Estates costs|House costs|Admin costs|Depreciation||Grant funding of activities (see note 8)|Share of support costs (see note 9)||Share of governance costs (see note 9)||||**Analysis by fund**|Unrestricted funds|Restricted funds||
|**7**||||||||||||||||||||||
## **ST PETER'S CHARITY**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2025**_
|**8**
**Grants payable**
**Community**
**&**
**Dependants**
**Relief In**
**Sickness**
**Fund**
**2025**
**2025**
**£**
**£**
Grants to institutions:
Age UK grant
-
2,000
Brigitte Trust
5,000
Carers UK
-
-
Challengers
-
3,000
Cherry Trees
5,000
Creative Response Arts
-
3,300
Cystic Fibrosis Trust
-
2,000
Dementia Carers Support
-
1,500
East to West
-
3,500
IMM
-
3,500
Surrey Clergy Relief
-
1,000
St Mary's Chiswick
-
3,354
TALK
-
5,000
Woking & Sam Beare
Hospices
-
6,000
Woking Mencap
-
3,000
Woking LinkAble
-
6,500
Woking Strokeability
-
3,500
Holy Cross Korea
10,000
-
10,000
57,154|**Total**
**Community**
**&**
**Dependants**
**Relief In**
**Sickness**
**Fund**
**2025**
**2024**
**2024**
**£**
**£**
**£**
2,000
-
2,000
5,000
4,000
-
-
1,000
3,000
-
3,000
5,000
-
3,300
-
2,200
2,000
-
2,000
1,500
-
2,000
3,500
-
3,000
3,500
-
3,000
1,000
1,000
3,354
-
4,650
5,000
-
4,500
6,000
-
5,000
3,000
3,000
6,500
6,500
3,500
3,000
10,000
6,028
-
67,154
6,028
49,850|**Total**
**2024**
**£**
2,000
4,000
1,000
3,000
-
2,200
2,000
2,000
3,000
3,000
-
4,650
4,500
5,000
3,000
6,500
3,000
6,028|
|---|---|---|
|||54,878|
-
- 30 -
## **ST PETER'S CHARITY**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2025**_
## **9 Support costs**
|Staff costs
Office & admin
Accountancy
Audit fees
Legal and professional
Trustees' expenses
Analysed between
Charitable activities|**Support**
**costs**
**Governance**
**costs**
**£**
**£**
142,608
-
93,078
-
15,621
-
-
11,344
-
4,495
-
2,649
**251,307**
**18,488**
**251,307**
**18,488**|**2025 Support costs Governance**
**costs**
**£**
**£**
**£**
**142,608**
113,837
-
**93,078**
130,676
-
**15,621**
15,860
-
**11,344**
-
8,920
**4,495**
-
1,415
**2,649**
-
736
**269,795**
260,373
11,071
**269,795**
260,373
11,071|**2024**
**£**
113,837
130,676
15,860
8,920
1,415
736|
|---|---|---|---|
||||271,444|
||||271,444|
Support and governance costs are split over Community & Dependants and St Columba's House in a 45:55 ratio.
Governance and Support costs include payments to the auditors of £11,344 (2024 - £8,920) for audit fees and £15,621 (2024 - £15,860) for accountancy and taxation services.
## **10 Trustees**
None of the Trustees (or any persons connected with them) received any remuneration or benefits from the charitable company during the year.
During the year £629 of Trustee expenses were paid, which included £482 in respect of Trustee Indemnity Insurance, with the balance relating to travel and sundry costs.
## **11 Employees**
The average monthly number of employees during the year was:
|Average number of employees
**Employment costs**
Wages and salaries
Social security costs
Other pension costs|**2025**
**Number**
26
**2025**
**£**
380,364
21,353
16,150
417,867|**2024**
**Number**
25|
|---|---|---|
|||**2024**
**£**
308,520
17,205
14,477|
|||340,202|
Ex-gratia termination payments totalling £23,000 were made in the reporting period.
- 31 -
## **ST PETER'S CHARITY**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2025**_
## **11 Employees**
## **(Continued)**
Most of the staff of St Peter’s Charity work either on a part time contracted or casual basis. This causes a large discrepancy between the actual number of people working for the organisation and the full time equivalent calculation below. The full time equivalent for the Charity is 8 people.
There were no employees whose annual remuneration was more than £60,000.
## **Remuneration of key management personnel**
The remuneration of key management personnel was as follows:
|Aggregate compensation
**12**
**Other expenditure**
Net loss on disposal of tangible fixed assets
**13**
**Net gains/(losses) on investments**
**Unrestricted Endowment**
**funds**
**funds**
**general**
**2025**
**2025**
**£**
**£**
Revaluation of
investments
405,658
91,366
Gain/(loss) on sale of
investments
-
-
Revaluation of
investment properties
(61,098)
-
**344,560**
**91,366**|**2025**
**2024**
**£**
**£**
57,059
53,207
**Unrestricted**
**Unrestricted**
**funds**
**funds**
**2025**
**2024**
**£**
**£**
3,337
-
**Total Unrestricted Endowment**
**Total**
**funds**
**funds**
**general**
**2025**
**2024**
**2024**
**2024**
**£**
**£**
**£**
**£**
**497,024**
634,534
105,135
739,669
**-**
-
(1,593)
(1,593)
**(61,098)**
937,115
-
937,115
**435,926**
1,571,649
103,542
1,675,191|
|---|---|
## **14 Taxation**
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
- 32 -
## **ST PETER'S CHARITY**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2025**_
|**15**
**Tangible fixed assets**
**Freehold land**
**and buildings**
**Fixtures and**
**fittings**
**£**
**£**
**Cost**
At 1 January 2025
2,614,995
138,817
Additions
-
9,549
Disposals
(3,820)
-
At 31 December 2025
2,611,175
148,366
**Depreciation and impairment**
At 1 January 2025
330,639
43,186
Depreciation charged in the year
69,960
7,458
Eliminated in respect of disposals
(482)
-
At 31 December 2025
400,117
50,644
**Carrying amount**
At 31 December 2025
2,211,058
97,722
At 31 December 2024
2,284,356
95,631
**16**
**Investment property**
**Fair value**
At 1 January 2025
Additions
Net gains/losses through fair value adjustments
At 31 December 2025|**Total**
**£**
2,753,812
9,549
(3,820)
2,759,541
373,825
77,418
(482)
450,761
2,308,780
2,379,987
**2025**
**£**
2,839,000
7,098
(61,098)
2,785,000|
|---|---|
- 33 -
## **ST PETER'S CHARITY**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2025**_
## **17 Fixed asset investments**
|**Listed**
**investments**
**£**
**Cost or valuation**
At 1 January 2025
12,131,703
Additions
4,277,557
Valuation changes
497,024
Disposals
(4,460,622)
At 31 December 2025
12,445,662
**Carrying amount**
At 31 December 2025
12,445,662
At 31 December 2024
12,131,703
**Fixed asset investments revalued**
Listed investments are valued at their market value at the balance sheet date.
**18**
**Stocks**
Finished goods and goods for resale
**19**
**Debtors**
**Amounts falling due within one year:**
Trade debtors
Prepayments and accrued income|**Cash in**
**portfolio**
**£**
379,808
30,140
-
-
409,948
409,948
379,808|**Total**
**£**
12,511,511
4,307,697
497,024
(4,460,622)
12,855,610
12,855,610
12,511,511
**2024**
**£**
2,062
**2024**
**£**
14,620
27,352
41,972|
|---|---|---|
||||
||**2025**
**£**
-||
||||
||**2025**
**£**
8,946
3,736
12,682||
- 34 -
## **ST PETER'S CHARITY**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2025**_
## **20 Creditors: amounts falling due within one year**
|**Notes**
Other taxation and social security
Deferred income
**21**
Trade creditors
Other creditors
Accruals
**21**
**Deferred income**
Other deferred income
Deferred income is included in the financial statements as follows:
Deferred income is included within:
Current liabilities
Shown as deferred income on the face of the balance sheet
Movements in the year:
Deferred income at 1 January 2025
Released from previous periods
Resources deferred in the year
Deferred income at 31 December 2025|**2025**
**£**
21,452
40,502
17,696
5,548
32,975
118,173
**2025**
**£**
53,452|**2024**
**£**
9,526
35,252
36,410
7,559
27,297
116,044
**2024**
**£**
61,031
**2024**
**£**
35,252
25,779
61,031
39,062
(39,062)
61,031
61,031|
|---|---|---|
||||
||**2025**
**£**
40,502
12,950
53,452
61,031
(61,031)
53,452
53,452||
Deferred income included in current liabilities comprises deposits paid in advance of events which are due to take place in future years.
The deferred income as shown on the face of the balance sheet is also for deposits, these have been paid for events that are due to take place after 1 January 2027.
- 35 -
## **ST PETER'S CHARITY**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2025**_
|**22**|**Pension Contributions**|||
|---|---|---|---|
|||**2025**|**2024**|
||**Defined contribution schemes**|**£**|**£**|
||Charge to Statement of FInancial Activities in respect of defined contribution|||
||schemes|16,150|14,477|
The charitable company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charitable company in an independently administered fund.
## **23 Endowment funds**
Endowment funds represent assets which must be held permanently by the charitable company. Income arising on the endowment funds can be used in accordance with the objects of the charitable company and is included as unrestricted income. Any capital gains or losses arising on the assets form part of the fund.
|**At**
**Permanent endowments**
Relief in Sickness Fund
**Previous year:**
**At**
**Permanent endowments**
Relief in Sickness Fund|**1 January**
**2025**
**Gains and**
**losses**
**At 31**
**December**
**2025**
**£**
**£**
**£**
2,053,095
91,366
2,144,461
**1 January**
**2024**
**Gains and**
**losses**
**At 31**
**December**
**2024**
**£**
**£**
**£**
1,949,553
103,542
2,053,095|
|---|---|
The Relief in Sickness endowment fund is held in order to produce income, from which grants can be made.
- 36 -
## **ST PETER'S CHARITY**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2025**_
## **24 Unrestricted funds**
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
|**At 1 January**
**2025**
**£**
Land and
Property Fund
2,284,356
Future Care
Costs Fund
1,250,000
Winding up
Costs Fund
250,000
Income Fund
8,824,709
General funds
3,089,000
15,698,065
**Previous year:**
**At 1 January**
**2024**
**£**
Land and
Property Fund
2,378,209
Future Care
Costs Fund
1,250,000
Winding up
Costs Fund
125,000
Income Fund
8,299,398
General funds
2,233,625
14,286,232|**Incoming**
**resources**
**£**
-
-
-
-
675,765
675,765
**Incoming**
**resources**
**£**
-
-
-
-
643,351
643,351|**Resources**
**expended**
**£**
-
-
-
-
(908,188)
(908,188)
**Resources**
**expended**
**£**
-
-
-
-
(796,534)
(796,534)|**Transfers**
**£**
(73,299)
-
-
205,441
(166,137)
(33,995)
**Transfers**
**£**
(93,853)
-
125,000
525,311
(563,091)
(6,633)|**Gains and**
**losses**
**£**
-
-
-
-
344,560
344,560
**Gains and**
**losses**
**£**
-
-
-
-
1,571,649
1,571,649|**At 31**
**December**
**2025**
**£**
2,211,057
1,250,000
250,000
9,030,150
3,035,000
15,776,207
**At 31**
**December**
**2024**
**£**
2,284,356
1,250,000
250,000
8,824,709
3,089,000
15,698,065|
|---|---|---|---|---|---|
- 37 -
## **ST PETER'S CHARITY**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2025**_
## **24 Unrestricted funds**
## **(Continued)**
The unrestricted funds available to the Trustees have designated as follows for current and future purposes:
a. The Land & Property Fund. This represents the value of St Columba's House, Woking and certain other properties in the Woking area which are regarded by trustees as central to its charitable mission.
b. The Future Care Costs Fund. This is set aside to guarantee the long-term costs of residential care for the members of the sisterhood and their dependant who remain should the income of the charity not provide sufficient funds.
c. The Winding Up Costs Fund. This is set aside to cover essential legal and contractual expenses which would be incurred if it ever became necessary to wind up the charity.
d. The Income Fund. This is set aside to generate the income necessary to cover the day to day expenses of running the charity including supporting the work of St Columba's House and providing care for the remaining members of the Sisterhood. The income may also be used on occasion to supplement the grants from the Relief in Sickness Fund for further charitable work in line with the foundation documents.
## **25 Analysis of net assets between funds**
|**Unrestricted**
**Endowment**
**funds**
**funds**
**2025**
**2025**
**£**
**£**
**At 31 December 2025:**
Tangible assets
2,308,780
-
Investment properties
2,785,000
-
Investments
10,711,149
2,144,461
Current assets/(liabilities)
(15,772)
-
Provisions and deferred income
(12,950)
-
15,776,207
2,144,461
**Unrestricted**
**Endowment**
**funds**
**funds**
**2024**
**2024**
**£**
**£**
**At 31 December 2024:**
Tangible assets
2,379,987
-
Investment properties
2,839,000
-
Investments
10,458,416
2,053,095
Current assets/(liabilities)
46,441
-
Provisions and deferred income
(25,779)
-
15,698,065
2,053,095|**Total**
**2025**
**£**
2,308,780
2,785,000
12,855,610
(15,772)
(12,950)
17,920,668
**Total**
**2024**
**£**
2,379,987
2,839,000
12,511,511
46,441
(25,779)
17,751,160|
|---|---|
## **26 Related party transactions**
There were no disclosable related party transactions during the year.
- 38 -
## **ST PETER'S CHARITY**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2025**_
|**27**
**Cash absorbed by operations**
Surplus for the year
**Adjustments for:**
Investment income recognised in statement of financial activities
Loss on disposal of tangible fixed assets
(Gain)/loss on disposal of investments
Fair value gains and losses on investment properties
Fair value gains and losses on investments
Depreciation and impairment of tangible fixed assets
**Movements in working capital:**
Decrease in stocks
Decrease/(increase) in debtors
(Decrease) in creditors
(Decrease)/increase in deferred income
**Cash absorbed by operations**|**2025**
**£**
169,508
(383,180)
3,337
-
61,098
(497,024)
-
2,062
29,290
(3,121)
(7,579)
(625,609)|**2024**
**£**
1,515,375
(393,783)
-
1,593
(937,115)
(739,669)
82,550
-
(18,060)
(18,793)
21,969
(485,933)|
|---|---|---|
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