ST. BUDEAUX CHRISI'IAN EDUCATIOP4 TRUST CIO FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JLLY 2025
ST. BUDEAUX CHRISTIA EDLTCATION TRIST CIO FINANCIAL STATEMEwrs (or the year ended 31 July 2025 Legal and administrdtiye inforniation Trustee5' 1 Directors, rewrt 4t07 Independeni F.xamin¢r's report Ststement of financial activities Balance sheei 10 Notes to the financial statements
ST BUDEAUX CHRISTIAN EDUCATION TRUST CIO LEGAL AND ADMINISTRATtVE INFORMATION Charity No: 1197536 Company CIO No: CE027962 Trustees who served itt the vear: Louis Neale (Chair) Alison Walford (Secretary) David Manners (Vice Chair) Jane Phillipa Neale Detek l-vrell Philip Andrew Baul (Treasurer) Pamela Louise Jewitt Independellt Examiner: A P Jopson. FCA Tony Jopson & Co Lid Chartered Accountants 246 Peverell Park Road Plymouth PL3 4QG Bankers: The Co-operative Bank plc PO Box 250 Delf House Southway Skelmersdale WN8 6WT HSBC Bank UK PO Box 45 47 Market Street Bradford BDI ILU
ST BUDEAUX CHRISTIAN EDUCATION TRUST CIO TRUSTEES. REPORT For the year ended 31 July 2025 The Trustee5 are pleased to present their report together with ihe financial statements of St Budeaux Christian Education Tnjst ('th¢ chatily",) for the year ended 31 July 2025. Legal and administrative information set out on page 3 fornis part of this report. Structure, Governance and Managemenl Governing Doeumenl St Budeaux Christian Education Trust is legally struclured since 17 January 2022 as a Charilable Incorporated Organisaiion {"C IO") and governed bj a constitution. It is a register¢d charity in lis own right reference 1197536. It look over all ihe assets of Si Budeaux Schools Foundation Trust (registered charity number 1140886) on l O July 2024. Appointmenl ofirustees I'he irustees serving during the year and since the year end up lo the date these accounts are signed off are listed on page 3. Trustee induction and troining New Trustees are provided with an orientation pack to brief them on their legal obligations under charity law. the eontenl of the ¢onstitulion and decision tnaking processes, and recent financial perfomianc¢ of ihe charity and oiher imp)rtant dcKumeiits which are coiltained in an induction pack. Trustccs are encouraged io attend appropriate external training ev¢tLts where these will facilile the undctsking of their role. Orgffnisolion The Board of Trustees adwninisiers the chariiy and normally meels at least quarterly. All trustee meetings are struciur¢d. an agenda is s¢L and minutes of th¢ meeting are recorded and filed for rcference. The Trustees receive financial statements from the treasur¢r and meet with th¢ primary investJnetLt fund manager from Ro)al Bank of Canada Brewin Dolphin at l¢ast once a year: they also receive quarterly portfolios in regard to the charity's investments. All applications for grants are discussed and &ged or rejecied by a majority vote. Cbarity Objectives To advance education of the pupils at St Budeaux Church of Er]gland Primary Aeademy. To advanc¢ the Chrisiian religion for the benefi1 of the public in accordance wilh the doctrine5 of the Church of England. For the public benefiL to promote the education {including social moral and physic21 training) of p¢ople under ihe age of 25 in ihe parish of St Budeaux and surrounding areas in su¢h ways as the charity trustees think fiL including. but not limited to.. ( l ) providing materials and ¢quipment and discr¢tionary funding and grnnts to educatio establishm¢nts to assist them in providing and maintaining i¢aching facilitlcs and resources.
(2) awarding to such young persork'5 scholarships, maintenance allowances or grants to enable them lo fund their primary or secondary or tertiary education and sustain themselves in furtherdnce of such educaiion and (3) to assist, in such other wa)'s as the charitv trustees think fit, any other ¢liarity operaling in th¢ parish and surrounding areas. whose aims include advancing the edu¢aiion (including social moral and physical trdining) of people under the age of 25 and helping the w)or in the parish. Achievements in the year Grants were awarded to St Budeaux Church of England Primary Academy as follows- £3,500 grxnt given io create an outdoor garden learning Space. £2.500 grant for th¢ provision of nurserv equipment. £645 grant for school Chri5tma5 show pcrfomied by 4 front theatre company. £6.000 grant for th¢ r¢furbishtnent of ihe h0o1 library project. £400 grant every ierni. to purchase fix)d for the sch(K>l brcakfast club. £300 grant for the purchase of 6 x £50 Tesco vouchers for families in n¢ed of help with food over the Christmas p¢riod. £240 grant for annual membership for Picture News. £50,000 grant given for the conversion of the school chapel inio the chapel community Hub. CJrants were awarded to Ihe community a5 follows- £250 grant to Ignite church youth club for equipment. £2.000 grant for annual m¢Jy)b¢rship io fare share for St Budeaux church food larder. £2.000 grant lo fund family allay weekend Si Budeaux Baptist church. £15,000 Grant towards s/0 Costs of the building of an accessible toilet in St Bud¢aux Parish Church. £2.000 grant given to Ignite church youth club for ongoing running costs and equipment. Support was given to a Church School link worker as follows- The Trust continues to support St Budeaux Church of England Primary Academy by giving grant to St Budeaux Church Parochial Church Council to enable them to employ a church school link work¢r. Support to Si Budeaux Church of England Primary Academy as follows- The Trust owns the land and School buildings and has an agreement with the Department of Education to allow the Fir51 Fcderaiion TrusL thai the school is part of. to use these resources rent free. Support to ihe St Budeaux Church community allotmenis as follows- The Trnst a150 owns half the land. with St Budeaux Parish Church owning the other l)alf. thai constitutes St Budeaux Church Communitj. Alloiments. This allows families to be I.0]ved in growing produce. There are also beehives on siie producing hones, and there is a seed shed where children are actively ini'olved in planting seeds and nurturing plants. The allotments are rented io families at a much-reduced rate.
Financial Review The charity ha5 an operational surplus for the >'ear ended 31 July 2025 of £1 0,867 (2024 £1,837). The overall net asset rK>sition of the chariry Stands at £3,128,914 at 31.7.25 (£3,118,047 at 31.7.24). Reserves Poliey The Trustees believe that the charity Should hold financial reserves (the Emergency Operating Reserve - EOR) to protect against fluctuations in funding and to have the ability to tnaintain its activitie5 in the short terttl if funding hs uncertain. The trustees believe that the minimum level of the EOR should be the equivalent of 6 months of annual operating costs calculated and reviewed annually and built up to thc desired level in stages in accordance with thc church s overall financial positioi? and its need to maintain its activities. The general unrestricted reserve is detailed under note 8, together with restri¢ted funds. The irustees currently consider there are ample reserves. Risk Review The Tru51ees identify and discuss risks on a quarterly ba515 at board meetings. The Trusle¢s have dev¢loped a COTnpr¢hen5ive risk management strategy, which comprises= an annual review of ihe risks the charity may face: th¢ establishment of sN'stems and pr(Kedures to mitigate ihose risks identificd and the implementation of procedur¢s designed io minimise any potential impact on the charity should those risks malerialise. Related Partie5 Trustees and management of the charity are required to disclose connwtions wilh any organisaiion appl)'ing to Ihe charity for funding or being considered as a suppli¢r. In such circumstan¢¢s, the rclevanl individual takes no part in the related dc¢ision making process. There were no relaied party transactions in the year. Tru5tees' responsibilitie5 in relation to the fjnancial slatements Charity law requi$ the trusi¢es io prepar¢ financial ststements in accordance with applicable law and Uniled Kingdom Generally Accepted Accounling Practice that give a true and fair view of the state of the affairs of the charity at the end of ihe financial year and of its surplus or deficit for the financial year. In doing so the trustees are required to- Select suitable accounting policies and then apply them consistenily- Make judgemcwhts and estimates Ihat are reasonable and prudeni; and Prepare the fin8n¢ial staicFnenis on ihe going concern basis unless it is inappropriate to presume the chariry will continue it5 operations. The Trustee5 are reswnsible for mainthining proper accounting records which disclose with reasonAble accuracy at any time the finaEhrial KM)Sition of the charity and enabl¢s them lo Cnsure thai the financial siatements Comply with ihe Siatemeni of Retommend¢d Practice {SORP) issu¢d by the Charity Commission. The trustees are responsible for safeguarding the assets of
the charity and hence for taking reasonable step5 for the prevention and detection of fraud and other irregulariti¢s. In so far as the trusiees are aware- Th¢r¢ is no relevant audit information of which the charity's independeni examiner is unaware. We as trustees have taken all steps that we ought to have tsken to make ourselves aware of any relevanl audil information and to establish that the independent examiner is aware of that infomiaiion. Approved by the trustees on ( hE/'J- half by= L Neale (Chair)
INDEPENDENT EXAMIII'ER'S REPORT TO TIIE MEMBERS OF ST. BUDEAUX c.HRIsTIA EDUCATION TRUST I report on the a¢¢ounts of St Budeaux Christian Education Trust for the year ended 31 July 2025, which are set oui on pages 9 to 14 below. The charit5 Iruslees are responsible for the preparalion of the aonIs. The charity's trustees consider ihal an audil 15 not r¢quired for this )reai under section 14412) of the Charities Aci 2011 ('tthe Charities Act'-) and ihat an independenl examinalion is needed. It is my responsibiliiy to= examine the accounts under section 145 of the Charities Acl. to follow the procedures laid down in the generdl Directions given by the Charity Commission {under section 145(5Xb) of the Charities Act. and to state whether particular tnatters have come to my attention. Mv examination was carried out in accordance with generdl Direclions given by the Charity Commi55ion. An examination includes a review of the accounting re¢ords kept by the charity and a cotnparison of th¢ accounts presented wilh those records. It also inc5udes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trust¢es ¢onc¢rning any such matters. The procedures undertaken do not provide all the evidence ihat would be required in an audit, and consequently no opinion is given as io wheiher ih¢ ac¢ounts pres¢nt a 'tru¢ and fair view and ihe report 15 limited to those matters set out in the statement below. In connection with my examination. no matter has come to my attention which gives me reasonable cause to klieve ihat in. any material respect. the requirements.. to kecp accounting records in accordance with seciion 130 of the Charities Act: and to prepare accounts which accord with the accouniing records and comply with the accounting requiretnent5 of the Charities Act have not been met: or 2. to which. in my opinion. attention sEK)uld be drdwn in order to enable a proper understandin8 of the accounts to be reached. A P Jopson FCA Date Chartered Accountant Tony Jopson & Co. Chart¢ffd Ac¢ouniants, 246 Peverell Park Road. Plymouth. PL3 4QG
ST BUDEALIX CIIRlS'fI.4N EDIICATION TRIIST C.10 s'rATEF1EP41' OF FI.NAf*CIAI. ACTIVITIF.S (includinE income and expenditure gccount) fnr the year ended 31 July 2025 Unrestricted Fund5 Restricted Funds Total 2025 Total Note5 2024 Incoming resources Incoming resources from generated fuDds Investment income 16,765 16,765 31,845 Revaluation of investments 101.178 101.178 Total ineoming re8ourees 117.943 117,943 31845 Resources expended Charitable activities Governance & sUPPOrt costs 105.826 1.250 105.826 1,250 29,758 250 Total resources expended 314 107.076 107,076 30.008 Net incoming resource5 10867 (o) 10,867 1,837 Overall surplus (defieit) 10,867 (o) 10067 1,837 Total funds at l August 3,118.047 0 3.118,047 3,116,210 Total funds at 31 July 3,128,914 0 3,128.914 3,118,047 Movement in funds are di5¢1osed in note 8 10 th¢ financial statements. All of the above resulis are derived frotn continuing activities. There are no gains or 105ses in ihe year other than Ihose shown above.
S'I. BUDEAbX CFIRISI'IAN EDIICATION I'RUST CIO BAI.ATr*C.E SHEF.T at 31 December 2025 2024 Notes FIXED ASSETS Investments 3,093,770 3,092.592 CURRENT ASSETS Cash at bank and in hand 36.144 25,455 36,144 25.455 CREDITORS: amounts falliiig due within one year Ac¢ruals { 1,000) 35.144 25.455 Net current assets 35,144 25,455 NET ASSETS 3,128,914 3,118,047 Unresiricted funds Restricted funds 3,128,914 3,118,047 TOTAL FUNDS 3.128.914 3,118,047 The financial And si ent5 on pages 9 to 14 w¢r¢ approved by the Trustee5 on behalf L Neale Chair The notes on pages 1 I to 14 form p2rt of the finaDci311 statements 10
ST BUDEAUX CHRISTIAN EDUCAI'ION TRUST CIO NOTF:S ON FINANCIAI. STATF.MENTS Tror the )ear ended 31 Jul). 2025 Accounting policies Basis of accounting The financial staiemenls have been prepared under the historical cost convention. The accounts have been prepared in accordance with th¢ Stat¢ment of Recommended Practice 'Accounting aiid Reponing by Charitie5 preparing ihcir accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {fKS 102} effe¢iive l January 2019 and H'ith the Financial Reporting Standard applicable in the United Kiiigdom and Republic of Ireland (FRS 102) Going concern The accounts have been prepared on the going concern basis. Income recognition Income is included in incoming re50ur¢¢s when the charity is legally entitled to the incotn¢ and the amount cai1 be quantified wsth reasonable accuracy. Gains or decreases on investment values are recognis¢d based on the most re¢ent valuations published by fund managers to the year end. Fund accounting Restricted funds are those that are held for specific (resiricted) purposes and must be applied for these purposes. Designated funds {if any) comprise unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of each designat fund is shown in the notes to the financial statements but they retnain unrestricted funds. Tangible fixed #$5ets These currenlly consist solely of investments. Basis of allocation of expenditure Resources expended are included in ihe Sialement of Financial Activities on an accruals basis, inclusive of any VA'f which cannot be recovered. Voluntary income- income from investmettts Unrestrieted 2025 Restrirted 2025 Total 2025 Total 2024 M & G Investments Black Rock Bonds Brewers Dolphin managed fund5 (1) 5,673 11.092 5,673 11,092 5,392 1.940 24,513 Total Investment Income 16,765 16,765 31.845 { l } Brewer Dolphin income is retsined in the w>rtfolio in yr ended 31 July 2025 so income appears within revaluation.
ST BUDEAUX CHRISTIAN EDUCATION TRIIST CIO NOTES ON FINALYCIAI. STAI'F.MLNTS Tr-or tbe >ear ended 31 JulTr. 2025 Charitable activities- resources expended Unrestricted 2025 Re5tri¢ted 2025 Total Total 2024 St Budeaux Youth worker salary Si Bud¢aux School First Federation support First Federation - chapel improvements St Budeaux church accessible toilet Fare Shar¢ St Budeaux proj¢¢ior St Biideaux Baplisl church grant Si Budeaux PCC Igniie St Budeaux youih support Alloltncnt Chuwhes Together in St Budeaux 4 Front Theatre S¢ripiure Union Resources {books) Link worker Sundry gifts Bank charges 22,745 22.745 15,180 6,320 3,438 8.940 50.000 15.000 2,000 403 2.000 2,000 250 8,940 50,000 15,000 2,000 403 2.000 2,000 250 2.000 800 302 638 384 209 427 .241 .241 452 485 250 60 452 485 250 60 60 105026 105.826 29,758 Governance costs Unre5tricled Re51ri¢led 2025 Tol#1 2025 Total 2024 2025 Indep¢ndent Examiner's fee 1,250 1,250 250 1,250 1,250 250 TOTAL RESOURCES EXPENDED 107.076 107,076 30,008 Trustees and related parties The trustees neiiher received, nor waived or reimbursed any emoluments during the year (2024: nil). There were no other transactions with related parties. which are required to be disclosed in these account5. 12
ST. BUDTr'AUX CHRISTIAN EDUCATION TRUST CIO NOTF.S TO THE FINAIICIAL ST ATEMENTS For the year ended 31 July 2025 Tangible fixed assets- investments M & G Black RockBrewer Dolphin Portfolio Bonds Portfolio TOTAL Cost / valuation At l Au8USt 2024 Transfers to eash Value increase / (d¢crtase) in Yar 94.555 209,308 2,788.729 3.092.592 (100.000) (i 00,000) 99,663 101.178 3.505 (1.990) At 31 July 2025 98,060 207J18 2,788J92 3,093.770 All investtnents are held by the charity in accordance with its stated Inveslments Policy Statement. This is du¢ for review again in 2026. Latest portfolio valuations dales are as follows= M & G Portfolio 30 June 2025 Black Rock Bonds 31 December 2024 Brew¢r Dolphin portfolio 11 July 202) Creditorn: amounts falling due within one vear 2025 2024 A¢cruals Accrual - htldependent examiner 1.000 Total accrual$ 1,000 Total creditors & provisions I,(H)O 13
ST BUDEALX CHRISTIAN EDUCATION TRUST CIO NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 July 2025 Movement in funds At l August 2024 At 31 July 2025 Ineome Expenditure Transfer5 Unrestricted funds: General r¢seTh¢ J.118.047 117.943 107.076 (i 00.000) 3.128.914 Total unrestricted fund$ 3.118,047 117,943 107,076 (ioo.000) 3,128.Y14 Restricted funds Total restricted fund$ Total funds 3.118,047 117,943 107,076 (ioo,000) 3,128,914 Restricted funds Restricted funds are those funds set aside for a particular spetific use. There are no reStried fund5 Ill the charity at the year end. De5igD2ted funds These are no designated funds held ai ihe year end. 14