Docusign Envelope ID: 64891616-46AC-8C73-837F-80085E18FABE **Registered number: 11862688 Charity number: 1194825** ## **CANARY WHARF MULTIFAITH CHAPLAINCY LIMITED** **(A Company Limited by Guarantee)** ## **UNAUDITED** **TRUSTEES' REPORT AND FINANCIAL STATEMENTS** **FOR THE YEAR ENDED 31 DECEMBER 2025** Docusign Envelope ID: 64891616-46AC-8C73-837F-80085E18FABE ## **CANARY WHARF MULTIFAITH CHAPLAINCY LIMITED** ## **(A Company Limited by Guarantee)** ## **CONTENTS** ||Page| |---|---| |**Reference and Administrative Details of the Company, its Trustees and Advisers**|1| |**Trustees' Report**|2 - 6| |**Independent Examiner's Report**|7| |**Statement of Financial Activities**|8| |**Balance Sheet**|9 - 10| |**Notes to the Financial Statements**|11 - 19| Docusign Envelope ID: 64891616-46AC-8C73-837F-80085E18FABE ## **CANARY WHARF MULTIFAITH CHAPLAINCY LIMITED (A Company Limited by Guarantee)** ## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2025** |**Trustees and Directors**|James Bardrick, Chair (resigned 31 March 2025)| |---|---| ||Sean Hammerstein, Chair (with effect from 1 April 2025)| ||Oliver Home| ||Mark Lacey| ||Carolanne Minashi| ||Thomas Venner| ||Deborah Zandstra| |**Company registered**
**number**
11862688
**Charity registered**
**number**
1194825
**Registered office**
One Canada Square
Canary Wharf
London
E14 5AB
**Accountants**
Griffin Stone Moscrop & Co
21-27 Lamb's Conduit Street
London
WC1N 3GS
**Solicitors**
Clifford Chance LLP
10 Upper Bank Street
London
E14 5JJ|| Page 1 Docusign Envelope ID: 64891616-46AC-8C73-837F-80085E18FABE ## **CANARY WHARF MULTIFAITH CHAPLAINCY LIMITED (A Company Limited by Guarantee)** ## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2025** The Trustees present their annual report together with the financial statements of the Canary Wharf Multifaith Chaplaincy Limited (the "Chaplaincy" or the "Company") for the year 1 January 2025 to 31 December 2025. The Annual Report serves the purposes of both a Trustees' report and a Directors' report under company law. The Trustees confirm that the Annual Report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019). Since the company qualifies as small under section 382 of the Companies Act 2006, the Strategic Report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted. ## **Objectives and activities** ## **a. Policies and objectives** The Chaplaincy's objects are specifically restricted to the following: (1) Providing a multi faith chaplaincy service to all of those in the Canary Wharf Estate (the "Estate"), including: (a) ensuring pastoral care and spiritual support are available to those of any faith or none; (b) working with the Canary Wharf Group and the tenants of the Estate ("tenants") in promoting the well-being of their employees; (c) acting as faith advisers to Canary Wharf Group, the tenants and other occupants of the Estate; (d) helping Canary Wharf Group, the tenants and other occupants of the Estate understand the positive role faith can play in terms of values and ethics and providing opportunities for those working on the Estate to engage with spiritual, social and ethical questions which arise in their working environment; and (2) Providing Estate-wide responses to pastoral incidents for the Canary Wharf community. In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'. Page 2 Docusign Envelope ID: 64891616-46AC-8C73-837F-80085E18FABE ## **CANARY WHARF MULTIFAITH CHAPLAINCY LIMITED (A Company Limited by Guarantee)** **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025** ## **Objectives and activities (continued)** ## **b. Main activities undertaken to further the company's purposes for the public benefit** Throughout 2025, the Chaplaincy team has continued to offer emotional, spiritual and practical support to workers, residents and visitors across the Canary Wharf Estate. The confidential listening service remains available to people of all faiths and none and is promoted amongst office workers, retail and hospitality staff, construction workers, security shift teams and residents. The Chaplaincy continues to support individuals through a wide range of personal and professional challenges including bereavement, family difficulties, workplace pressures, mental health concerns and periods of uncertainty. Chaplains also provide support following significant incidents on the Estate, working alongside employers, emergency responders and community partners where appropriate. Alongside pastoral care, the Chaplaincy continues to provide religious advice and expertise to Canary Wharf Group, corporate tenants and other organisations operating on the Estate. This includes supporting employers in understanding and accommodating religious practices in the workplace, encouraging inclusion and helping foster positive relationships between people of different faiths and beliefs. The team has continued to strengthen existing relationships with companies across the Estate and establish new connections, increasing awareness of and access to Chaplaincy services. During 2025, the Chaplaincy worked closely with Canary Wharf Group and individual tenants to increase visibility and accessibility through events, communications, digital channels and onboarding processes for new occupiers. The team remains committed to operating a flexible model of chaplaincy, offering support both in person and remotely. This recognises the continuing reality of hybrid working patterns whilst ensuring that pastoral support remains easily accessible. The Chaplaincy has continued to support and contribute to a wide range of faith and interfaith activities across the Estate, including events marking Ramadan, Easter, Diwali, Hanukkah and Christmas. Chaplains have also supported employee networks, educational events, discussion panels and community-building activities designed to promote understanding, inclusion and religious literacy within the workplace. The Retail Chaplaincy has continued to serve the many retail workers across the Estate through regular visits and relationship-building activities. Volunteers remain an important part of this work, helping extend the reach of the Chaplaincy amongst retail colleagues and businesses. The Chaplaincy Steering Group and Board of Trustees have continued to meet regularly throughout the year, providing governance, accountability and strategic oversight. The Chaplaincy has also supported staff, volunteers and trustees in undertaking appropriate training and professional development to ensure the continued quality and effectiveness of its services. Page 3 Docusign Envelope ID: 64891616-46AC-8C73-837F-80085E18FABE ## **CANARY WHARF MULTIFAITH CHAPLAINCY LIMITED (A Company Limited by Guarantee)** **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025** ## **Achievements and performance** ## **a. Main achievements of the company** 2025 has been a year of consolidation, growth and increasing impact for the Canary Wharf Multifaith Chaplaincy. Following the significant leadership transition and twentieth anniversary celebrations of 2024, the Chaplaincy has focused on embedding its refreshed strategy, strengthening relationships across the Estate and increasing awareness of its services amongst workers, residents and partner organisations. Alongside frontline delivery, the Chaplaincy has also undertaken a programme of organisational strengthening, reviewing internal systems and processes to support good governance, sustainability and future growth. Throughout the year, Chaplains have continued to provide confidential pastoral care, emotional support and spiritual accompaniment to individuals from all faiths and none. The Chaplaincy observed a noticeable increase in demand for its listening and support services during 2025, with more individuals contacting the team directly for support, often without previous contact with the Chaplaincy. The team also received increasing numbers of telephone and voicemail enquiries. This growing demand evidences both an increased awareness of the Chaplaincy and of the trust placed in its services by workers across the Estate. As in previous years, much of this work is undertaken discreetly and confidentially and remains at the heart of the Chaplaincy's work. One significant milestone of the year was the successful appointment of a permanent Jewish Chaplain in April 2025, after a prolonged vacancy. The addition of a Jewish Chaplain (working two days per week) has added a notable increase to the capacity of the team, facilitated the rebuilding of relationships with Jewish employees and organisations across the Estate and supported the development of a new Cross-Wharf Jewish network. This work has been particularly important during a period when many Jewish colleagues have continued to experience anxiety and uncertainty arising from wider events affecting Jewish communities in the UK and internationally. Another notable development during 2025 has been the Chaplaincy's increasing recognition as a trusted partner and adviser. Demand for faith advisory work continued to increase, with a growing number of companies seeking support around religion, belief and inclusion in the workplace. Chaplains supported organisations in developing inclusive approaches to religious accommodation, fostering respectful dialogue across difference and navigating sensitive cultural and geopolitical issues affecting employees. The Chaplaincy has also continued to create opportunities for discussion and understanding across faith communities, contributing to healthier and more inclusive workplace cultures. Chaplains were invited to contribute to a range of internal faith and interfaith initiatives, employee networks and public discussions focused on topics such as faith, leadership, resilience, inclusion and wellbeing in the workplace. The Chaplaincy's communication and outreach activities continued to develop during the year. Social media outreach was focused primarily on LinkedIn, where follower numbers grew by 63% during 2025. Regular newsletters and podcasts helped broaden awareness of Chaplaincy services and activities and continue to generate new opportunities for engagement. The team continue to work closely with Canary Wharf Group to improve awareness of Chaplaincy services within tenant onboarding processes and digital communications channels. The Chaplaincy also engaged with new sectors and organisations during 2025, including for the first time several government, healthcare and regulatory organisations. Partnership working remained a significant area of achievement during the year. The Chaplaincy supported the first cross-company interfaith Mitzvah Volunteering Day, bringing together volunteers from eight different companies in support of a local foodbank initiative. The team also worked closely with Canary Wharf Arts and Events Team and other partners in supporting community faith celebrations including Ramadan, Easter, Diwali and Hanukkah, as well as the annual Canary Wharf Carols by Candlelight. These events provided opportunities both for members of faith communities to celebrate important festivals and for the wider public to learn about the traditions represented across the diverse communities of Canary Wharf. The Retail Chaplaincy continued to expand its reach during 2025. Two new volunteers joined the team following successful recruitment activity during the summer, strengthening the Chaplaincy's capacity to support the large Page 4 Docusign Envelope ID: 64891616-46AC-8C73-837F-80085E18FABE ## **CANARY WHARF MULTIFAITH CHAPLAINCY LIMITED (A Company Limited by Guarantee)** ## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025** ## **Achievements and performance (continued)** and diverse retail workforce across the Estate. During the year two volunteers also completed their service and moved on to other opportunities. Trustees record their gratitude for the contribution made by all volunteers in supporting the work of the Chaplaincy. The work of the Canary Wharf Chaplaincy has also attracted recognition beyond Canary Wharf itself. During 2025, the Chaplaincy was featured in national and sector publications, including the Financial Times, and was highlighted within the Faith & Belief Forum's review of Inter Faith Week 2025. The Chaplaincy also supported emerging faith-at-work and chaplaincy initiatives elsewhere in the UK. The Chaplaincy has continued to invest in its staff, volunteers and trustees through training and wellbeing initiatives. Team members participated in safeguarding, mental health, resilience, coaching, communications and personal safety training, whilst additional wellbeing support was introduced for staff. Trustees believe that investing in the capability and resilience of the team is essential to delivering an effective and sustainable service. There were also important changes within the Chaplaincy's leadership and governance structures during the year. Trustees recorded their gratitude to James Bardrick, who stepped down as Chair in March 2025 following many years of dedicated service and support to the Chaplaincy. Trustees also expressed their thanks to Hilary Evenett, who stepped down as Company Secretary at the end of the year. Both made significant contributions to the governance and development of the organisation during periods of considerable change and growth. The Trustees also wish to thank Wayne O'Reilly, the Catholic Chaplain, who resigned from his role in December 2025 after several years of valued service. In addition to supporting members of the Catholic community and ensuring the provision of a weekly Catholic Mass in Churchill Place, Wayne also played a significant role in providing pastoral care amongst construction workers, security staff and sections of the retail community. Given the broad scope of the role now vacant, the Chaplaincy will undertake a review of needs early in 2026 before determining the form of recruitment required later in the year. ## **Financial review** ## **a. Financial performance and position** The charity started 2025 with total funds of £329,809. Its income for 2025 was £132,933 and it incurred expenditure on charitable activities of £134,261, so over the course of the year there was a net reduction in funds of £1,328. At the balance sheet date the charity had funds to carry forward of £328,481. ## **b. Reserves policy** The minimum reserve levels are set by the Trustees and are based on the amount required to wind up the Chaplaincy and its activities in an orderly fashion should the need arise. This is currently estimated at £ 200,000, a figure that was updated by the board in March 2025 following a detailed review of the chaplaincy’s full running costs. The Chaplaincy’s reserves comfortably exceeded this level throughout 2025. Amounts over this are available to be deployed to implement the updated strategy referred to above. Page 5 Docusign Envelope ID: 64891616-46AC-8C73-837F-80085E18FABE **CANARY WHARF MULTIFAITH CHAPLAINCY LIMITED (A Company Limited by Guarantee)** **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025** ## **Structure, governance and management** ## **a. Constitution** Canary Wharf Multifaith Chaplaincy Limited was incorporated as a company limited by guarantee and was formally recognised as a charity by the Charity Commission of England and Wales on 16 June 2021. ## **b. Methods of appointment or election of Trustees** The management of the company is the responsibility of the Trustees (Directors in company law) who are elected and co-opted under the terms of the Trust deed. ## **Members' liability** The members of the company guarantee to contribute an amount not exceeding £10 to the assets of the company in the event of winding up. ## **Statement of Trustees' responsibilities** The Trustees (who are also the directors of the company for the purposes 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 . Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to: - select suitable accounting policies and then apply them consistently; - observe the methods and principles of the Charities SORP (FRS 102); - make judgements and accounting estimates that are reasonable and prudent; - state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the 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 company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by order of the members of the Board of Trustees and signed on their behalf by: **Sean Hammerstein** (Chair of Trustees) Date: 6 July 2026 Page 6 Docusign Envelope ID: 64891616-46AC-8C73-837F-80085E18FABE ## **CANARY WHARF MULTIFAITH CHAPLAINCY LIMITED** ## **(A Company Limited by Guarantee)** ## **INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2025** ## **Independent Examiner's Report to the Trustees of Canary Wharf Multifaith Chaplaincy Limited ('the Company')** I report to the charity Trustees on my examination of the accounts of the company for the year ended 31 December 2025. ## **Responsibilities and Basis of Report** As the Trustees of the company (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'). Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the company's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. ## **Independent Examiner's Statement** I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: 1. accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination; or 4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. This report is made solely to the company's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the company's Trustees those matters I am required to state to them in an Independent Examiner's Report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the company and the company's Trustees as a body, for my work or for this report. 6/7/2026 Signed: Dated: Richard Hill FCA **Griffin Stone Moscrop & Co** 21-27 Lamb's Conduit Street London WC1N 3GS Page 7 Docusign Envelope ID: 64891616-46AC-8C73-837F-80085E18FABE ## **CANARY WHARF MULTIFAITH CHAPLAINCY LIMITED** ## **(A Company Limited by Guarantee)** ## **STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2025** |**Note**
**Income from:**
Donations and legacies
3
Investments and bank accounts
4
**Total income**
**Expenditure on:**
Charitable activities
5
**Total expenditure**
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
Net movement in funds
**Total funds carried forward**|**Unrestricted**
**funds**
**2025**
**£**
**128,318**
**4,615**
**132,933**
**134,261**
**134,261**
**(1,328)**
**329,809**
**(1,328)**
**328,481**|**Total**
**funds**
**2025**
**£**
**128,318**
**4,615**
**132,933**
**134,261**
**134,261**
**(1,328)**
**329,809**
**(1,328)**
**328,481**|Total
funds
2024
£
129,100
4,674
133,774
154,829
154,829
(21,055)
350,864
(21,055)
329,809| |---|---|---|---| The Statement of Financial Activities includes all gains and losses recognised in the year. The notes on pages 11 to 19 form part of these financial statements. Page 8 Docusign Envelope ID: 64891616-46AC-8C73-837F-80085E18FABE ## **CANARY WHARF MULTIFAITH CHAPLAINCY LIMITED (A Company Limited by Guarantee) REGISTERED NUMBER: 11862688** ## **BALANCE SHEET AS AT 31 DECEMBER 2025** |**Note**
**Fixed assets**
Tangible assets
10
**Current assets**
Debtors
11
Cash at bank and in hand
**Current liabilities**
Creditors: amounts falling due within one
year
12
**Net current assets**
**Total assets less current liabilities**
**Net assets excluding pension asset**
**Total net assets**
**Charity funds**
Unrestricted funds
14
**Total funds**|**556**
**330,851**
**331,407**
**(3,382)**|**2025**
**£**
**456**
**456**
**328,025**
**328,481**
**328,481**
**328,481**
**328,481**
**328,481**|64,330
267,852
332,182
(3,332)|2024
£
959| |---|---|---|---|---| |||||959
328,850| |||||329,809| |||||329,809| |||||| |||||329,809| |||||329,809| |||||| |||||329,809| Page 9 Docusign Envelope ID: 64891616-46AC-8C73-837F-80085E18FABE ## **CANARY WHARF MULTIFAITH CHAPLAINCY LIMITED** ## **(A Company Limited by Guarantee)** ## **BALANCE SHEET (CONTINUED) AS AT 31 DECEMBER 2025** The company was entitled to exemption from audit under section 477 of the Companies Act 2006. The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006. The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements. The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime. The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by: **Sean Hammerstein** (Chair of Trustees) Date: 6 July 2026 The notes on pages 11 to 19 form part of these financial statements. Page 10 Docusign Envelope ID: 64891616-46AC-8C73-837F-80085E18FABE **CANARY WHARF MULTIFAITH CHAPLAINCY LIMITED (A Company Limited by Guarantee)** **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025** ## **1. General information** The financial statements of The Canary Wharf Multifaith Chaplaincy are prepared for the period ended 31 December 2024, the presentation currency is Sterling and figures are rounded to the nearest £1. The company is a private company limited by guarantee without share capital, and is incorporated in the United Kingdom under the company registration 11862688. The registered office is One Canada Square, Canary Wharf, London, United Kingdom, E14 5AB. ## **2. Accounting policies** ## **2.1 Basis of preparation of financial statements** The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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 Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. The preparation of financial statements in compliance with this standard requires the use of critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies. Canary Wharf Multifaith Chaplaincy Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy. The following principal accounting policies have been applied: ## **2.2 Income** All income is recognised once the company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. Grants are included in the Statement of Financial Activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance Sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued. Page 11 Docusign Envelope ID: 64891616-46AC-8C73-837F-80085E18FABE **CANARY WHARF MULTIFAITH CHAPLAINCY LIMITED (A Company Limited by Guarantee)** **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025** ## **2. Accounting policies (continued)** ## **2.3 Expenditure** Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Expenditure on charitable activities is incurred on directly undertaking the activities which further the company's objectives, as well as any associated support costs. All expenditure is inclusive of irrecoverable VAT. ## **2.4 Tangible fixed assets and depreciation** Tangible fixed assets costing £NIL or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably. Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost. Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, . Depreciation is provided on the following basis: Computer equipment - 25% straight-line basis on cost ## **2.5 Debtors** Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. ## **2.6 Cash at bank and in hand** Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. ## **2.7 Liabilities and provisions** Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Page 12 Docusign Envelope ID: 64891616-46AC-8C73-837F-80085E18FABE ## **CANARY WHARF MULTIFAITH CHAPLAINCY LIMITED (A Company Limited by Guarantee)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025** ## **2. Accounting policies (continued)** ## **2.8 Financial instruments** The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. ## **2.9 Pensions** The company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the company to the fund in respect of the year. ## **2.10 Fund accounting** General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the company and which have not been designated for other purposes. Investment income, gains and losses are allocated to the appropriate fund. ## **3. Income from donations and legacies** |**Unrestricted**
**funds**
**2025**
**£**
Donations
718
Grants
127,600
128,318
Total 2024
129,100|**Total**
**funds**
**2025**
**£**
**718**
**127,600**
**128,318**
129,100|Total
funds
2024
£
1,500
127,600| |---|---|---| |||129,100| |||| Page 13 Docusign Envelope ID: 64891616-46AC-8C73-837F-80085E18FABE ## **CANARY WHARF MULTIFAITH CHAPLAINCY LIMITED (A Company Limited by Guarantee)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025** ## **4. Investment income** |**Unrestricted**
**funds**
**2025**
**£**
Bank interest
4,615
Total 2024
4,674|**Total**
**funds**
**2025**
**£**
**4,615**
4,674|Total
funds
2024
£
4,674| |---|---|---| |||| ## **5. Analysis of expenditure on charitable activities** ## **Summary by fund type** |Chaplaincy costs
Total 2024
**Analysis of expenditure by activities**
Chaplaincy costs
Total 2024|**Unrestricted**
**funds**
**2025**
**£**
134,261
154,829
**Activities**
**undertaken**
**directly**
**2025**
**Support**
**costs**
**2025**
**£**
**£**
114,896
19,365
92,330
62,499|**Total**
**2025**
**£**
**134,261**
154,829
**Total**
**funds**
**2025**
**£**
**134,261**
154,829|Total
2024
£
154,829| |---|---|---|---| ||||Total
funds
2024
£
154,829| ||||| ## **6. Analysis of expenditure by activities** Page 14 Docusign Envelope ID: 64891616-46AC-8C73-837F-80085E18FABE ## **CANARY WHARF MULTIFAITH CHAPLAINCY LIMITED (A Company Limited by Guarantee)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025** ## **6. Analysis of expenditure by activities (continued)** ## **Analysis of direct costs** |Staff costs
Consultancy
Total 2024
**Analysis of support costs**
Consumables
Staff training
Staff safeguarding
Travel and subsistence
Printing and stationery
IT software
Subscriptions
Insurance
Advertising
Tax and payroll costs
Retirement gift
Depreciation
Governance costs
Total 2024|**Activities**
**2025**
**£**
75,339
39,557
114,896
92,330
**Activities**
**2025**
**£**
3,450
3,391
926
2,828
993
862
47
1,656
697
702
80
503
3,230
19,365
62,499|**Total**
**funds**
**2025**
**£**
**75,339**
**39,557**
**114,896**
92,330
**Total**
**funds**
**2025**
**£**
**3,450**
**3,391**
**926**
**2,828**
**993**
**862**
**47**
**1,656**
**697**
**702**
**80**
**503**
**3,230**
**19,365**
62,499|Total
funds
2024
£
53,786
38,544| |---|---|---|---| ||||92,330| ||||Total
funds
2024
£
1,640
864
-
2,078
832
1,242
35
1,418
49,762
743
145
366
3,374| ||||62,499| ||||| Page 15 Docusign Envelope ID: 64891616-46AC-8C73-837F-80085E18FABE ## **CANARY WHARF MULTIFAITH CHAPLAINCY LIMITED (A Company Limited by Guarantee)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025** ## **7. Independent examiner's remuneration** ||**2025**|2024| |---|---|---| ||**£**|£| |Fees payable to the Company's independent examiner for the preparation||| |and independent examination of the Company's annual accounts|**2,928**|3,374| |Fees payable to the Company's independent examiner in respect of:||| |Payroll and tax compliance services|**1,063**|743| ## **8. Staff costs** |Wages and salaries
Contributions to pension schemes|**2025**
**£**
**71,114**
**4,225**
**75,339**|2024
£
49,860
3,926| |---|---|---| |||| |||53,786| The average number of persons employed by the company during the year was as follows: ||**2025**|2024| |---|---|---| ||**No.**|No.| |Employees|**4**|3| No employee received remuneration amounting to more than £60,000 in either year. In addition to the employment costs detailed above the services of the charitable company are delivered through its Lead Chaplain who is not paid by this company, but who receives a salary from the London Diocesan Fund. As well as the above personnel, two consultants were engaged in 2025 to provide chaplaincy services on behalf of the company on a self-employed basis. These costs are included in Consultancy within the analysis of direct costs in note 6 above. The directors are considered the key management personnel of the company. ## **9. Trustees' remuneration and expenses** During the year, no Trustees received any remuneration or other benefits (2024 - £NIL). During the year ended 31 December 2025, no Trustee expenses have been incurred (2024 - £NIL). Page 16 Docusign Envelope ID: 64891616-46AC-8C73-837F-80085E18FABE ## **CANARY WHARF MULTIFAITH CHAPLAINCY LIMITED (A Company Limited by Guarantee)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025** |**10.**
**Tangible fixed assets**
**Cost or valuation**
At 1 January 2025
At 31 December 2025
**Depreciation**
At 1 January 2025
Charge for the year
At 31 December 2025
**Net book value**
At 31 December 2025
At 31 December 2024|**Computer**
**equipment**
**£**
**2,789**| |---|---| ||**2,789**| ||**1,830**
**503**| ||**2,333**| ||**456**| ||959| |**11.**|**Debtors**||| |---|---|---|---| |||**2025**|2024| |||**£**|£| ||**Due within one year**||| ||Prepayments and accrued income|**556**|64,330| Page 17 Docusign Envelope ID: 64891616-46AC-8C73-837F-80085E18FABE ## **CANARY WHARF MULTIFAITH CHAPLAINCY LIMITED (A Company Limited by Guarantee)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025** ## **12. Creditors: Amounts falling due within one year** |Accruals and deferred income
**Financial instruments**
**Financial assets**
Financial assets measured at fair value through income and expenditure|**2025**
**£**
**3,382**
**2025**
**£**
**330,851**|2024
£
3,332| |---|---|---| |||2024
£
267,852| ## **13. Financial instruments** Financial assets measured at fair value through income and expenditure comprise cash at bank. Page 18 Docusign Envelope ID: 64891616-46AC-8C73-837F-80085E18FABE ## **CANARY WHARF MULTIFAITH CHAPLAINCY LIMITED (A Company Limited by Guarantee)** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025** ## **14. Statement of funds** ## **Statement of funds - current year** |||||**Balance at**| |---|---|---|---|---| ||**Balance at 1**|||**31**| ||**January**|||**December**| ||**2025**|**Income**|**Expenditure**|**2025**| ||**£**|**£**|**£**|**£**| |**Unrestricted funds**||||| |General Fund|**329,809**|**132,933**|**(134,261)**|**328,481**| ## **15. Analysis of net assets between funds** ## **Analysis of net assets between funds - current year** |**Unrestricted**
**funds**
**2025**
**£**
Tangible fixed assets
456
Current assets
331,407
Creditors due within one year
(3,382)
**Total**
328,481
**Analysis of net assets between funds - prior year**
Unrestricted
funds
2024
£
Tangible fixed assets
959
Current assets
332,182
Creditors due within one year
(3,332)
**Total**
329,809|**Total**
**funds**
**2025**
**£**
**456**
**331,407**
**(3,382)**| |---|---| ||**328,481**| ||Total
funds
2024
£
959
332,182
(3,332)| ||329,809| Page 19