St. PAUL'S CHURCH, HADLEY WOOD, TRUST (Charity No. 1197668) ANNUAL REPORT FOR THE YEAR ENDED 31st DECEMBER 2024 By order of the Charity Commission for England and Wales dated 2 November 2022 the transfer of all assets and liabilities of St. Paul's Church. Hadley Wood, Trust {1132527) to Ihis CIO was 8Uthofised and at a meeting of the trustees held on 6 December 2022 it was resolved that such a transfer take place effective from 1 January 2023. The address of the trust is 34 Crescenl East. Hadley Wood, Hertfordshire EN4 OEN. The trustees who served through the year were- J. T. Hall R. T. Dargue The Rev. Dr. K.R. Birkett K. Politzer Additional trustees have been appointed effective from 1st January 2025. E. N. Ewer N.J. Northam The Iruslees select and appoinl new trustees. The tnjstees have complied wtth their duty of Ca to have due regafd lo the guidance on publi¢ benefit published by the Charity Commission in the exercise of Iheir powers or duties. REVIEW The trust held the church premises of Sl. Paul's Churth, Hadley Wood and the vicarage premises 34 Crescent East, Hadley Wood plus other assets during the year for the benefit of the church communty. The income of the trust during the year from all sources tolalled £5.260. The trust in¢vrred no expenditure during the year with the result that Ihere was a surplus of re¢eipts over payments of £5.260. This surplus has been added to the Expendable Endowment leaving a balan to Cary forward of £73.308. INVESTMENT POLICY The trustees intend to follow a prudent investment policy and invest the majority of long lenn financial as5els in collective investment funds appropriate to chartlies in order to seek lo obtain a good relum of income and capital protection. The trustees do not wish to impose reslriclions because of the ethical nature of particular investments but leave these matters lo the investment managers who are investing Specifically for charibes. Approved by the Trustees and signed on their behaw J. T. Hall ChaiThnan 29th April 2025 Page 1
St. PAUL'S CHURCH, HADLEY WOOD, TRUST {Charity No. 1197668) UNRESTRICTED RECEIPTS AND PAYMENTS FOR THE YEAR ENDED 31st DECEMBER 2024 2024 2023 RECEIPTS - income from assets M & G Charrfund dividends COIF Investment dividends COIF Deposit interest 3,801 1,275 3,611 1,257 5,260 4,877 PAYMENTS - other expenditure Legal fees for trust advice 1,040 1,040 Surplus of reip1S over payments 5,260 3,837 Expendable Endowment balance brought forward 68,048 64.211 Expendable Endowment balance carried forward 73,308 68,048 Recelpts and payments basis of accounts Revenue and expenditure is recorded on a receipts and payments basis when preparing these accounts. Equipment costs Expenditure on equipment and moveable frttings at the vicarage property is written off as an expense when purchased and is not capitalised. Page 2
St. PAUL'S CHURCH, HADLEY WOOD, TRUST (Charity No. 1196668) BALANCE SHEET 31st DECEMBER 2024 2024 2023 TANGIBLE FIXED ASSETS Land and buildings al cost of prewous trusts Church - expenditure in 1911 Church H811 {estimaled costs) Church H811 extension costs Vicarage property 1,475 50,000 169,689 208,663 429.827 1,475 50,000 169,689 208,663 429,827 Inveslmenls al cost of previous trusts 4.223 M&G Charifund units 2,308 COIF Charities Investment Fund units Market value £109.017 {2023- £106.404) 37,480 25,000 62,480 37,480 25,000 62,480 492,307 492,307 CURRENT ASSETS COIF Charilies Deposit Fund Barclays Bank 4.816 6.012 132 5.436 10,828 5.568 503,135 497,875 Financed by- PERMANENT ENDOWMENT 429.827 429.827 EXPENDABLE ENDOWMENT Balan 1st January 2024 Surplus for the year 68,048 5,260 73.308 64.211 3,837 68,048 503.135 497,875 Approved by the Trustees and signed on their beha J. T. Hall Chaiman 29th April 2025 Page 3