Charity regktrknn number 1187101 CorAP•ay lluwber CE020117 for the ymr ended 318¢ M*Tth 2024 Thist Cl D. L Buxtr B. C. Thir]away P. J. Gill- Chair B. J. Down 1187101 CED20117 car￿ & Tr(rtta C. 123 Irisb Street DGI 2PE Busine&8 addruB tmdon SWIP IRD Sbeffield SI 2HN Barclays Wealth Avcnu¢ HQ 17 Etrlann ]sl&tyd livopool L3 IBP 85 Qoeen YJ¢toria Stred )ndon EC4V 4Er Solickto Ywk Yol 9PP Page Siat¢matt of Financial Activiti Balance sheel 11-14 Trustees, Re ytsr ended 31st March 2024. Th¢ finatt¢ial Statetll￿ts ha￿ be￿ preparal iti ae¢oTdance Hith ￿cOUnt￿g poIi¢iw 8et out under note i to the and wmply ￿ the CIO¥ constitutio￿ the Charities Act 2011 and Ac(x)vntiog and R¢ponllig by Ch8rities: Statement of R¢comtwdvJ Practice applicable to eItsrities prepaTing their aizounts in accord2nc¢ with the Fillanci￿ Reporw standard applicabk in the UK alld Republic of Tr¢laDd (FRS 102) published in octo￿ 2019. ObJe¢tfv¢& & AL*ivlthi Princi lac Th¢ JraK P￿S￿vICh Trnst CIO (the Chatity) is a Cknitable ]ncorymtd Org8uikn. (¢hatity tsumber 1187101), regi5tercd wirh thc CbaTity C0mll￿10ll of FLgland and Waks. The c]wi￿S obieds rcgulations arc d¢t6i￿rA by Constitytion daled 20 Dec¢mbu 2019. thisi*iDg the governing d￿rneDl The objeKA of th¢ cI￿lty is for the public b¢nefiL the advaocemeDt of the Chri￿lati religiffl by, but not limited to. promoting and et)¢owg the Christian vab￿s of rrxonciliation and p¢a¢¢, tsuth telling ond the fimdamcntsl belief ill burwL rights. Jn furtb+xaD¢c of this the Charity wiu pmvide grants to owisatiffjs and indi￿dual$ who s¢¢k to a¢bi¢Y¢ these alld to Jr¢ne P￿stWich,S close awciation with Initi8tiva4 of ChaDge (Iolf) tkn¢ Clwity strongly8UPPOtts loif and its rtlated iDiSiativ&s and p¥oied& the Tir7￿ Garth Tn￿t (th¢ Trust). arA unin￿rI￿rat¢d clwity (numk 2414691 by prittmrily. but not exclusively. Sup￿)rting the work of the Jni¢i8tiva of Cballge UolEA a n)ov¢m¢tst dedi(xteAJ to remaking the Wor￿ It 1$ a faith.bas¢d ¢lMity workillg with p￿k of all f8iths and non4 to iD5pir4 wip and coDn¢ct tbcm to take their first #q) in cr¢ating aiiisL quaL and 8ll#ainthle ￿lety. A brief histffly of the Charity is inclutsl below: FfLYlorv & Fornthiitm O The ITeAePrtstwich TnL%i CIO In 1932 Ir￿¢ Prestwith met The OXf(￿d Group (lolE UK) dthged ¢0 build a world that works, founded on p￿1¢ liviag bigh moral standards and oEryiDg the ￿ill of God on a moment to moment ba8&9'. As she put tbese ideals into practice she put old reg￿truellts ri￿t aDd iw to a tmv r¢Iati(￿lP with het sithr. Trene Prutwicb kn18&1 that htt large famity home in Cheshire callol Tirlq ￿ sIll￿ld be u8uI ￿ tbat Ibousends. ¢ould find the perwa] change iti their liv&% that she had found.. Y thought of my home with throngs of people c(trming in with tber prObl¢n￿ ar&1 80in8 Out with God.. During the war years Irene Prestwich made her home availabk as a ¢￿tre fc¢ Moral Re-Arniament (MRA) as The OxfLYd Group was then called. It bttame a haven for soldi¢t8 on l¢av¢ and p￿1¢ fromb]Jtz4￿ vthile laDd.girls attd publis1￿1 morale building articles there iti the eveniog& The Irene Prethkb Thirt CIO for the e#r emded 31•t Ma￿￿ 2024 In 1949 ]rene Prntwicb spcot all of hff saviogs to enable the Tirky Garth Tn￿ to buy Tirley Gar￿ which bad PT6Tiously bee￿ rentol. so il wuld colltiDu¢ to be u*1 as confemcc ¢%lltsf for MRA work The Ir¢n¢ Pr¢sLwith Tnlst wa6 also Set at the San￿ time to manage this WLxk FTOM its ba8e at Tirl¢y Garth, The Irene Prestwich Trust f4Jught to Texh out to PQTl¢ in all of life includitig industy. educatu)n. medical professions and civic lif¢ tbrougb other Cbtistiart FM)die& Oyer the )t4rs thousands from BTitain and around the world came ty TiTley Gartb for meetitigs and confmces or to stsy for longer ￿lOd8 living dircctiOD of nation& EV￿tUally in 21x12 the TiTley (larth cettre was ￿ld and io 2LK15 th¢ Titky (1*1h Ths¢ wbi¢h bad pr¢viously owned Ihe Tirl¢y Gartb C¢ntr¢. traJsfareA all of its ￿1Viti(S and a58¢ts to The trcne Pr¢stsvi¢h Trust. In order to keq) th¢ name of The Tuley Garth Th￿t alive the TTUStee8 d￿ld￿j kn rcgistcr tbe nam¢ with the Chatity ComMi￿10n as Th¢ Pre#wich Trust ]llcoroK)rthg tbe Tllky Garth Trurf. It otKrat•a as a grant n]aking body puY5uing the sall￿ obje£ts bofor& In 2019 the Trus*lf Ke￿y4 OrganL%￿E0X ofACC anxuoj meetsng ¢) C(￿ference attendanw loif IntrntionaL Swit7ulatsd d) Caux Fon￿ 2024, 10(t Swit7ttknd g) Caux Fonun 2024 for Glotol ChaDgq lo￿ Swittcrland AccomnudaÈ￿ h) Fellows￿ WeekeEhd. tolE UKUK a) I0￿ luternational vvJa)s translation. lofc ￿ternati(4￿ Switz Annualrthtcontnbtsion c) F£0 IDitiativ4 Yeheb ProiecL UK d) Initiatives of Challgc TTUSt building pro￿. Iofc Com¢rwn Travelandaeeonm¥odatioKforlo￿e￿￿m￿n[ry te4Pn lethleR Initiatives of Change s￿th Afrlca Trust buildin& lo￿ South Afrk¢a Initiatives of ChallEe Swedffl tr￿￿1￿& lolf Swthn Th¢ IreA¢ Trns ' ADllRal ear ended 31st a) Israeli Pale￿i￿1#n Fneountet Caux 2(r23, Iolc Swrttslalld Costs oforgani5iRga meeliRg ofd gn)4p ofLYraeli andPal£sknians O>¥4￿iSed tyJnitiati¥Ys ofchange b) Caux F¢rn Healmg the W¢yJnds of the Past 2023, Iolf Swithland Accommodation grants) c) Illitiativ￿ of Change Ind(￿e81& Trost building Progra￿ IDt￿lIott￿ SwitxEland d) Cr¢atOT5 of Pracc InternationaL COP. SwitrcdaThJ TronslattoR ofthe ¢TUiniUZ F1Danthl R¢%kn Inv￿￿￿entsIT0Ie In ac¢(Kdance with the tnY&8tm¢nt Policy Statematt Ibc (ThJity is exp￿ to exist in papewity and the investhKnts shoum be to the 8am¢ tim¢ h￿]zOn. As a c4)nwueDc£ of thi& the inv¢stnent strategy is lo bala￿ capi¢al growth with the grant giving in su¢b a way that the vahx of invesiumts 18 at least maiutsined with re8pe¢l to the Col]9￿ll￿ Trice Itth (CPD. The illvestnLent portfolio is curnty split betwe￿ Bar¢1￿ Wealth aDd CCLA with Imyh invesiment ana8ers adopting a medivta risk T4)tal Returns Str*¢8y. A eoDwuence of adoptiDg a Totsl Rrtums Sirnt¢gy is thAt dividends and interest ate adduj kn th¢ invesimettl portfolio and as $uch the Clwity sells boldings in order to the 8fdtLt giving act1v1￿. This rowires the Thistees tyj attmmlly adju8¢ the grant ￿Illg budgd as it is dep￿d￿t the investtll￿t perfollll￿ and valuation. JmproveDRnts in the FiDatEcial Mark¢l8 thuiug the FiEwcial ￿r 202>24 trth ill th¢ valuation of th¢ Charitys assets risitL8 by over IIPA This 18 a sigllifi¢20t iDipri)veDxnL TrusteeJ wlltitiue to closety monitor this 8ituatioTh Global njarkets Lx)ntItll￿ to be turbukni WAth the app)intcd Jnv¢slmC￿t Mana8us rnonitoting the risks and kwitig the trnste£q infthined. a) On the 31# March 2024 the invtotment ￿￿0110 valued at £6,856,727 which 18 ao iD¢rea* from the previo￿ y*s valuation of £6216.879. b) Investments to the valu¢ of £87,487.66 *)Id to covu both the grnttt givin8 wKeg9 8nd c) Incomc from Donor8 w88 £300. d) R¢tum of unspent gallts to IPT CIO totallcd £6,964.63 e) Casb beld in tb¢ Cw current a¢count ott the 31#Marcb 2024 Wd8 £7.696.47 Grallts tctsllol £98,847 PA8e S he frene PrestwKh Thirt CIO ettdtd 31rt MAr¢h 207A PknLS thré pwfonnance and goV￿Danc￿ of the Charity in its bea interesL investtnent funds ￿ for 202425 the budgethas be￿ sd at £120,(KK) maintsinittg the anllual ezpenditure gnd sale of investments fund& However. should the itivestmurt vaTruati￿ dmttge th¢n th¢ Th]sttts may thide to revis¢ the budget Witb three trustC¢5 due to retire in 202>24, rèjuittnfflt of new trust#% is ongoin& On¢ trl pToTrisionally joined ffld of the FY 23-24 Ivith an apwsIntm￿t due in May 2024. Two othw candidates are being inEerVieW￿ wiib a view lo join by the ￿ of 2024. The Thist¢¢s are eli￿1¢ ia committtt to appoiDt ￿ld111(￿mI trust¢¢s ￿ tbe tenD8 of the Cott&1￿0 Much care is tak¢n kn ¢fj8u￿ th¢ suitsbllity of th(*¢ iDVited ￿ becomc • that they should be pttxyn8 of int¢gnty and have som¢ appropriate atyl wific knowledge and ￿￿butiOn to make. They are givcn a thorouBb bricfing about the history and role of thc ch￿Lty, as i¥ell as its op¢ralioffj itives￿ts alld grant 8iviDg activitiCS. Apart from 1¢8ili￿a(C rCIllthuT5Cll￿t of ext*DS￿ Donc of th¢ Ttustecs rcc¢ive any remuncration. The Truste&8 Jjorrdty meet four times a ye4r to ov¢rs¢¢ goV￿nan& plaoning and to reach decisions about nt Jnaking requests and investment policies. Mtttings happ￿ onliDe and in and the Secretary to AnD Bielby (resi8ned D¢C¢M￿ 2023) Da￿d L Buxton Vmica ￿ CTaig (re8igo¢d February 2024) Juditb L Curtis {re8igDeAI Dec&nbtt 2023) Bathara J. Th)v Ph(K4x J. Gill {appoillt&J Chair Feknwy 2024) Brian C. Thir]away (ap￿1]tited Trea4]ru Febnwy2024) Charity Numb 1187101 ComphttyNumber CE020117 Lthdl￿ SWIP IRD CaNm & Tr(rtter 123 Trisb Street e Pr¢8twl¢h Trust ao Trnste¢s' ADllual Re for the 'ur ended 31st Msrch 2024 Poli ene guidance oll charitie5 for the adv8ncenKnt of reliw. The Charity proj￿ts of TnIti￿1VeS of Chattge (Iofic) and similar organisations as It Pla￿ great Value on their continuitig role in briogillg about re¢onciliatt"on and transfonuatioll ID Pa50nBI aud publi¢ lif& The Charity believes that the change that results from itKlividua18 who appty moral staDdaTts itt Ibeir p￿Sonal li￿ ljave a p￿lt]ve effe£t on so¢i312nd publ Th¢ Charity continues Irene Pre#vrirb's vision that hon￿ b¢ to b¢lp pei)ple find th¢ petsonal transform￿lOll she hers¢lf expeTiencd This work was 3tart¢d by the pioneer Frank Buehrnan, a Lutherall mini5t¢r, who r¢ach¢d out to pwpl¢ of diff¢￿th faitbs a8 well as w who We￿ aBuosti¢ (ff athelst. He expres￿ truths in wa)7 that were unts)nv¢nti(wl and gnetimes did not religious- althousb th¢y all sprng from his personal cbristl￿ fall￿ The Tn￿e&S follow in this tiadition and consider their activitics to be advancing the Cbristian Teligii)n in accordance with the chari￿8 ObjeQ& Trnitees Rwnslbllltl Thc Trustees are responsi￿1¢ ￿ preparitig the TnJstee8' AnnllaE Report 8od the Floa￿141 Staternents itL accordan(% with applicable law and United Kingth)m Aco)witing Sfartd8rds (United Kingdom's 8etLeralty accountin8 PlaCti¢c). Th¢ law applicabk to ¢harIti￿ in F￿gland and Wa]esrquir&s the Tnkn to pIq￿¢ fllwici￿ stats¥ocnts for each fillaLcial )rar. whith giv¢ a tru¢ alld fair view of the state of affairs of the cI￿lty, the iti¢omitig resour￿8 and the application of ¥*aTityTa5DUm foT tIHt periThL In prwation the Truslees areTequi￿l to: a) S¢lect suitable accounting p)licies and apply th¢m con8iStrntiy, b) Observe the mdhods and priDciples on the Charrties SORP. d) State whctber applithlc accouotiDg sthadards hav¢ be¢n followed. subject to Anymatuial dq¥arture8 disclowl and exp]aitYd in the f]nancial staten*ttts' ¢) Trepate the fman¢ia] ststemeDts rn th¢ basis that thc chaTity is #n ThJbn)in8 Conctt￿ unless it is The Trustees arc tcsp)Dsible for keeping wper xYA)uDtitig r￿$ whith dix1￿ with r¢L4)nable aecuracy at any time the financial postllon of the Charity and to enable them to ¢nwr¢ that the financial sLatemeDts comply with the Charities Act of 2011. the Charitie5 {Acc4wnts & lieEKxts) Regulations 2008 and TrLtst Deed. They are res￿￿sib￿ tr safe8uardiDg the as5¢ts ofthe Cbarity and bellce for taktng rea%)nknl¢ st¢P5 for th¢ prevention and detrttioti of fraud and other irreguIaritieg. Thisrcport 4)proved by th¢ Tro#¢w attheirm¢¢¢iog (m 25th JanDary2025 and sigtia ots tbfflrbehalf by. Ph￿be Gill P*ge 7 The Irene Pres Inde ¢nd¢nt Examlner'8 Rc rt to the Tn￿tee3 of The Irene Prthich Trust CIO I report to the Charity Trnstees on my exami￿ of th¢ a¢¢ollnts of the above Charity for the year th131st Pthh 2024. Respon$lbllltle8 and ba•lB ofreport As the Charity$ T￿￿. 14)u are respon￿]￿le for the preparation of tbe iti ￿0[danc¢ with the re4]uiments of tbe Charities Acl 2011 {"the Actry I report in resp¢¢¢ of myexamlt)*l(￿ of the Charitys accounts ￿[led out UDts wtioll 145 of the 2011 Act and in carrying Out rny I have followed all the applicable D1￿CtI￿￿ giv¢n by the Ch￿lty Commi&sion under ￿tIOn 145(SXb) of the AOL Indepthd¢nt statement with the ¢xaD)l￿t￿ whith Bives c4use to believe that in aftywterial respect (2) the w)unts did not accord with thc accounting re￿rd4' or (3) th¢ accounts did not compty with the applieablc requirements e4)nc£rnillg the form and content of aclounts 8¢t out in the Clwiltes {A¢￿ts aDd RqMrt%) Rwlation8 2￿8 other than any requirern￿t that the accounts giv¢ a "true and fair vicw" vknich is not a matter ca￿ld¢￿d as part of an lljdyndellt examin*ion. sh￿Id be drawn in tbis reprt in order to ethle a PTQW undastanditi8 of the to be reachol Linda Brxttnodt C Messrs Carson & Trotttr Ch#rt¢red Accountants 123 Irish Strert Dumfrles DGI 2PE Pale 8 Stst¢mLYt of Flnancial Actsvitie8 for the ended 31st MA 2023 Ineojne and Endowments from: Donati008 and kwi¢s Tnve8ttnents Chantabk aciivities 3C 86.861 6,965 31N) 85,097 3,723 Totsl Jo¢om• 94.126 89.120 Exp¢ndltwe on: Inv¢stm¢nt ManaguLfflt costs (8,418) (9938) (98.84T) (8,523) (12.297> (110,399) Chan'table activities Totsl ¢xp¢ndithre 117203 131.219 Net (expenditureyincome befLre OossaygaiDS OD in￿Stn￿¢￿ts (23.077) (42,099) 640.474 (271.663) N¢t Ineome l (Expendliure) 617.397 (313,762) Re¢on¢lllatlon of Funth: Total Fund8 Byought Forw*rd 6250.512 6.564274 Total Fund• Carrled Fornthl 6.867. 6250.512 The notes OJJ pages 1110 14 forw att knttgril p*rt•f thue fiD*ts¢ial itAtement Page 9 2024 Not Filed amets 6,856.727 45216,879 Curr¢nt aoxts Cash at bank and in haad 13.440 35,161 13,440 35,161 Credltor8: Miounts falllnz due withkn one ymr Net curnt •swts (2258) {1.530} 11,182 33.631 Net assets 6.867.909 6250,512 The FllDds •f the Charity Unrestricted futtds io 6,867,9)9 6,250512 TotAI Charlty Fund8 6,867.￿9 6250JE2 Th¢ frthncial S￿¢￿entS wuc approved and tiu1b￿ for issije by the F*)8rd of Thtskees on 25th J8nuary 2025 and siglled co its bchalf by J. Down Trustee (frethirtr) PJ.G The Rotth on 11 to 14 form part of these finall17￿ 8t*tem¢nt& P•F 10 otes to the flnAnclAI statsments ear end 1.1. G¢lleral illformatfioll and tsfprtparalion The Ckwity con5tifu￿6 a public be￿errt eJ]tiry LS defined by FRS 102. The finaocial statcmcnts have beth prepared io xcorth¢¢ with Accounting and liwttng by CE￿ItIeS. Ststement of Recomrndcd Practice appli(able to Charities prq)armg their &xoutsts JD awrdance with lh¢ Fin8nciai Reporting Stalldard applicable in th¢ UK and Rythli¢ of Tteland (FRS 102) issutsl in octob￿ 2019, the Financial Rrpoyting Standard app]l￿ble iti th¢ KingdoD and Rq)ublic of ]reland (FRS 102). the ChaTiti¢5 Act 2011 and UK GtllaallyAwtal Praclice. Th¢ fiDalleial statements are pr¢pated on a s￿1￿8 CQDcern boSi8 under the historical cosi ¢ollvention. odificd to in¢lud¢ ¢¢rtain items at faxr valu& The financial statcni¢nts are presented iti st¢rling which is the [￿￿￿1(4￿1 CWT¢W of the cbarity. The Si￿lfi¢80t aCCOUDtinB policies gpplied in the PTWdtion of these financial ststem¢nts are *t o 1.1 l•eome Rwnltion All incoTll¢ 18 lllclllded in the SOFA whrn the Cbarity is l¢ga]ty entitled to the iDcome. after any perfOrnian￿ CODdition8 bav¢ been rneL the amount can be rneaW￿ r¢lEably and it is probable that the ity¢om¢ will be received Dollati(ms and vohujtary inc4)llL¢ accowited for gross wllen received. tnvestment iticomc is ar￿￿1¢d ts iti tbe puiod in ￿lch tb¢ Cbarityis entitl￿ to ￿llpL 13. ExpendltDre R•n Expenditur¢ is included on thc 8¢L7va]s b&si& EX￿nd￿are is recogDi8al wb¢t¢ th¢￿ is a legal or C47nstructive obligation lo make paynents to third parti￿ it is probable that setdement will b¢ requirryl end the amount can be reliably. cr￿￿5 all￿ated betwcrn ¢1￿1(able and other expenditijre bctW¢￿ th¢ ￿t¢￿Ie4 acctythg to th¢ naluTe of the GraDts pardbk to third &￿[￿.¢$ ￿ within the clthritabl¢ obj¢ctiv&k Where unwnditional grants a thi8 18 a¢¢ru¢4 as soon as th¢ Tttipieot is rLOtificd of thE grdJl as thi$ gives rise to 3 reax)rL8ble expcc1atlL￿ that the r￿1p[ent will 1￿CIve tbe ￿t& Wh￿¢ grants are C¢Jnditional relattng to perforn)ance thell tbe gr8nt is only Y￿r[￿l whul aELy llnfolfdl¢d CaLdiliotis a￿ outside of the c4)ntrol of the Charity. 1.4. Investments Fixed a￿¢t investm¢nts are Stated at fair yah￿ at th¢ ￿ end. All gains and losses are t3keD to the StatcnKJl of Financial Athities 85 they atiK Rcalised 8ains and lo￿$ on investmcnts We calculated os the differ￿¢¢ between sale pThKeeAJs aDd tbrit opeoing vaLue or th¢ir purchase valu¢ if acquir&J subseA]uent to the ftrst day of the financkal year. Urrnli￿d gains and lo&ses arc rdadat¢d a5 the difftrence betvRen the fair value at tbc y¢ar-end aDd kn ca￿y]llg ￿1￿¢. Realissj aud unr¢alised gains and losses are ¢ombingJ in the Statement of Fioanciai A(Xivitie& l.& Fwid A¢¢tyllnting The fi￿d3 of the Clwity alt g¢ncral unrestrided fimds vthich 8re available for use at the diS￿etIon of the tru#tts in firtheraD¢e of the Ob3￿ts of the clthrity and which bave J)ot beeD d¢si8natsl for oth¢r Pwii The Iren Y4otsb the statemen¢¥ Mar¢b 202 lletsme from Doutions *od t 2023 3(XJ 300 3(X) 300 Investment In¢om¢ 2023 48,178 38.683 55.705 29,392 UK Fixed ithst Sea￿lti 86.861 85.097 I￿orne from elwitsble *etivit 2024 2023 6965 3,723 6965 3,723 Governance Costs 2024 2023 437 lJ16 6,100 1.890 431 2,(KlS 8,020 Admini8tration expo)ses Secretarial fees Jndcp¢ndent Exami￿$Fee8 Bank charges 41 9938 12297 The (love1￿ce C￿011 relate to the one actsvity of the Trn Past Thirt Nott8 ts the ststtTrents 31 h20 Employe The Clwityhas no e4DpIo Tr Truste￿ of the CharitywLxk m a pur¢lyvohmtaryb*siB and ￿1Ve DO munuatiOLL The ChaTitylltilises the Se￿￿alL￿ wrfsc48 of Sa8bim IAd trPre￿￿t￿l byAleksth& Shymi of ewdltsre on ch*rlt*bl¢ •¢tlvld Grants to itistitudons 2024 2023 33,550 21520 43.777 .580 25,590 61,229 (htreacb Work loll Sw)wt 98,847 110.399 ed asRt fiDveBtmrnts Value At 1st A￿11 2023 Additions at cost Pto¢eed8 of disp￿lS Realised gainslOos5e5) on itiSpo￿ts Uor¢aii8¢d (105s¢sygains 4)n revaluation At 31￿ Marth 2024 6216.880 86,861 (87.489) 59.168 581,307 6J58556 85.097 (155.111) 22,103 (293.767) 6.856.727 6216,879 6,856,727 6216.879 Hi8knic81 cost #t 31st Marth 2024 5,879,803 5,919,640 Credltors: amounts fthg thi¢ YAthIA one year 21124 2023 Trnde creditors 2258 1530 for the r ellded 31st Marcb 2024 10. Fundi Gains & Closlng IDtome Fxpadlture I￿Se* B•lan¢¢ Uvethieted Gener￿ fuuds 6250.512 94.126 (117203) 640.474 0.867.￿9 All fuods of th¢ tharity arc 11. Coatrolllng Interest The Charityis under trL¢ control of the Tn Other Net 0.856.727 11,182 6.867,909 Rdated party tr￿lIe1￿nI g¢14