Charlty Registrallon Numb•r1200136 THE PEMBROKE STREEfTRUSTCIO (FORMERLYTHE ST ALDATES MINISTrY CIO) ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER2025
TrIE PEMBROKE STrEEfTRiISTCIO LEGALAND ADMINISTRATIVE INFORMATION J Corpj A Godi8y S Cooper Jjackson Ch•rltyNumb•r 1200135 Indop•nd•nt Examln•r Jame8TavenerACA nk•rJ CAF Bank Ltd 25 Kln81 HIUAbgnuo Wast M8111ng ME194JQ
THE PEMBROKE STREEfTRUST CIO Tru8tee¥ Report Indepondent Examin8r'A Report Accountlng Pollcle8 Statement of FlnonclalAGtlvitlos Statomant of Flnanclal PItIon 10 Not68to the FlnBnclalStatsment 11
THE PEMBROKE STREEfTRUST CIO TRUSTEES. REPORT FOR THE PERIOD ENDED 31 DECEMBER 202S TheTrustee8 present thelr pOrt and 8ccounts forthe perlod ended 31 December 2025. The accounts have been prepared in accordance wrth the accountlng poucles set out on pageg 6 to 8 and eomptywith the Charitys governing document. the Charitles Act 2011 and "Accounting 8nd Reportlng by Charitlas: Statement of Recommendod Practice applicable to ¢h8ritie3 preparlngtheir accounts In accordance wlth the Financial Reporting Standard applicable in the UK and Republlc of Ireland IFRS 102)"188 amended for aGcounting perlods commenclngfrom 1 J8nuaTy2019). Obl•ctlvo8 and athlti The eharws obJe¢tlves are the advancement of the Christl8n religion tythe proclamatlon ofth8 gospel of Chrlst and the bullding up of nis body by the church bywh8t8ver legally charlt8ble means the Trustees in thelr dl#cretlonal Sh811 thlnkflt. The ¢harltywas created to provide 8 means of Incorporatlon ofthe former StAld8t88 Mlnlstry Trust {th8 Trust). Durlng the yearthe Trustees continued Impl8mentlnq the ch8nge8 Suggested bythe governance review under takon In 2024. They 81s0 adopted a str8te8y whereby they WIII seek to 8cqulre resldentlal PTopertyto be used to provlde Certalnty of housing prowsion for Christ18n minlsters In Oxford. In the meantlme, charity's fund have been Invested 80 as to achleve a flnanclal retum. Such proportle8 are Ilkely to b8 purchased on o mortgage end the Tru8tee8 wlll seek to m8lntain free cash reserves of £200,000 as a buffer 888Snst Interest rat8 rlsk. Thlg is In additlon to any net equlty In the propertle8 held 8t 8nytlme. Flnan¢l•l rovlew The charlty recelved o single donatlon of £200,00012024: £200.0001 along wAth investment income of £23.39812024: £18,013). The charlty's expendlture on bank charges and legal fees. Structur•, gov•mance and rnanag•m•nt The Charity wa8 established in August 2022 w as to provlde 8 means of incorporatlon of the St Aldates Mlnistry Tru8t. The St Aldates Ministry Tru8t W88 88tsb118h8d In the 19605. The TfU5te8$ who served durlng the year and up to the dat8 of 81gn8ture of the flnanclal Statements were: ) Corps A Godley S Cooper J Jackson
THE PEMBROKE STREETTRUSYCIO The Trustees ere re8ponslbLe fortha overnli manag8ment orKI control of the ¢harity. The board of Tru8te88 meots aB and when nece88ary. The Tru8ts08' reportw88 8pprove¢J byth8 808rd ofTru8te S Cooper. Tru8t88
THE PEMBROKE STREETTRUSTCIO INDEPENDENT EXAMINER% REpoirr TO THE TRUSTEES OF TrIE PEMBROKE STrEEfTRUST CIO I report to thotrustee5 on my examination of the accounts oftha above charlty l°th& Charlty") fortheyearended 31 Dac8mber2025. Respon•lblUt1¢8 and ba818 of r•port As the charity's truste8s, you ar8 r8spon8ible forthe preparation of the accounts In accordance wlth the requlrements of the Charities Act 2011 {"the Act"). I report in respect of my ex8mln8tlon of the Charlty's accountg carried out under sectlon 145 of the 2011 Act and in C8rrylng out ry examlnatlon, I have tollowed allthe appllcable Dlreetions given bylh8 Ch8rlty Comml8glon under 3ectSon 145151{b) of the Act. Indopandont •xamln•fs •tstom•nt I h8ve completed my examinatlon. I conflrm that no materlal rn8tter8 have come to my 8ttention In ¢onnectlon wfth the gX8mln8tlon which 8lves ma c8use to belleve that In, any aterlal respect: the accountln8 record8 were not kept lrn accordance wlth sectlon 130 of the Ch8rltl85 Act: or the accounts dld Trot accord with the accounting record8: or the 8ccounts dld not comply wlth the 8ppll¢able requlrements conc8rnlng the forffl and content of accounts Set out In the Charltleg IAccounts end Report81 Regul8tlon8 2008 otherthan any requlrement th8t the accounts glve a'true and f8lr.vlew whlch Is not a matt8r considered as part of an Independent examinatlon. I have no concerns and have come across no other matter9 In connectlon wlth the examlnatlon to which 8tt8ntion should be drawn In thls report In order to enable a proper under8tandlng of th9 accountsto b6 r8sched. ¥./ts.7/..2026 James Tavener ACA
ThE PEMBROKE STREETTRUSrcio ACCOUNTING POLICIES Charlty Informatlon The Pembroke Street Trust CIO is an incorporated charlty registered with th8 Charty Commission for England and Wales. The ch8rity passed a resolutlon to adopt a new name on 2 March 2026. Accountlng conv•ntlon The accounts have bèan prepared in accordance with the Charity'8 governing document, the charleS Act 2011 ¥nd"Accounting and Reporting by Charltles: Statement of Rgcommended Practlce appU¢able to Gh8rltles preparingtheir accounts In accordance wlth the Ftnanclal Reportlng Standard applicable in the UK and Republlc of Ireland IFRS 1021" las amended for 8c¢ounting perlods commencingfrom 1 J8nuary20191. The Charlty is a Public Benefit Entlty 88 defjnod by FRS 102. The Ch8rlty hag taken adv&nt8ge of the piovislons In tho SORPfor ch8ritle8 applylng FRS 102 UPd8te Bullotln 1 not to preparè 8 Statement ol Cash Flows. The financlal 5tat8ment8 have depart8d from the CharStie8 IAc¢oun18 8n(J Reports) Regulatlon¥ 2008 only to the extent requirad to provlde è true and fAir ¥lew. Th18 departurè h88 Involved tollowing the Statgment of Recornmended Pr8Ctice for charities applying FRS 102 ratherthan the verslon otthe Statement of Recommended PTaCtlce whlch Is referred to In the ReguLation8 butwhlch h88 Slnce bèenwithdrgwn. The finenclal ststemants 8r8 prgP8red In sterung, whlch18 tha tunctlonalcurr8ncy of thé Charlty. Monetary amounts In these flnancial 8t8tement8 9re rounded to the nearest £. The occounts have been prepared undertha hlstortcal cost conventlon. The princip81 8CCOUntlng pollci88 edopted ere set oul below. Golng conc•m Atth8 tlme of 8pprovlngthefinanci813tstement8. the Trustees have 8 reasonable expectstlon that the Ch8fity has adequate re8ource8 to continue In operatlonal existence lor the forese88ble future. Thus the Tiustees continue to odoptthe golng conc&rn ba318 of accounting in preparing the flnanclal gtstements. Charltabl• fvnd8 Unrestrl¢ted funds are 8V81L8ble for use the dlsCTgtlon of the tru8tee9 in furtherance of the charitable oblectlves of the ch8rity. Incomo Income Is recognised when the Charity is18g81ty entitled to it after any performan¢e conditions have been met, the amounts can be measured reliably. and it 13 prob8ble that income will be received. Cash donations are recognised on recelpt. Other donation5 are racognised once the Charity h88 been notrfied of the donation, unle85 Performance conditions require deferral of the amount.
THE PEMBROKE sfREEfTRUSTCIO Expenditure Expènijlture Is recognised once there 18 a legal or congtructlve obll88tlon to transfer economlc bgnefit to 8 third party. St18 probablethet 8 transfer of economic beneflts wlll be requlr8d In settlement, and the amount ofthe obligatlon con b8 measured rellably. Expenditure is cLasslfSed by actlwty. The costs of each 8Ctivty are made up ofthe totsl of dlrect Costs and shared costs. Including support costs involved in undertaking each activlty. Olrect costs attrlbutable to a single actlvity are allocated dlrectly tothat actlvlty. Shared costs which conirlbut8 to more than one activity and gUPPOn Costs which are not attiibutable to 8 single 8Ctlvbty are 8PPOrtloned betsveen th080 8Ctivlti88 on 8 b8s18 con818tent wlth the U9e of re80urce8. All expendlture Is included on an accruals bas18 and is recognised 8n th8re Is a legal or constructlva obtigation to do 80. Ch8rlt8bl8 actIvleS Include expendlture assoclated wlth meetlng Its charltable oble¢tlve8. Thls Includes the cost of grant maklng. And direct provlslon of chari18ble $8rvlces. Gov8rnanc8 cos18 include th089 Incurred In thg governance of thg ¢harlty and its a8sets and 8T8 prlmarlly associated with Constltutlonal and statutory requlrem6nt8. Flxed as8et Inv••tmants Flxed 888et Investments are inltl8Liy measured at trangactlon prlce excludlngtransaction c08t8 and are gubsequently measured at tslr value at each reportln8 date. Chenges In f8ir value are reeognls8d in net Incomellexpendlture) for the year. Tran88Ction co8t8 are expensed 89 Incurred. Cash and ¢a•h equlval•ntJ Cash and cash equlvalents Include c8gh Sn hand, deposits held at c811 with banks. other short- teim liquid Investments wfth original maturitles of three month8 or 1888, 8nd bank overdr8ft5. Bank overdraft3 are shown within borrowlngs In current Ilabllltles. Ba8lo Ilnanclal a8S•t8 Basic f Inanclal assets, whlch Include debtors 8nd c8gh end bank balance8. 8re InltlBIIy measured attr8n38Ctlon prlce Including tr8ns8Ction costs and are subsequently c8rrled 8t 8mortls8d cost uslngthe effectlve Interest method unless the 8rr8ngement constltutes 8 flnanclng transactlon. where the transaction Ss m8a8ured 8t the present v81u8 of tho future receipts discounted at a m8rk8t rate of interest. Flnancial 8sset5 classified 88 recelvable withln oneyearare notamortis8d. Baslc tinanclal liabllltl•8 Basic financi81118bilitles. Including creditors and bank loans are Inltl8LLy recognised at transection price unless the 8rfanEement constitutes 8 flnancingtr8ns£ction, where the debt Instrument Is measure(J at the present value of the future payments discounted at a market rate of interest. Flnancial li8bllitles clessified as payable within one yeBr are not amortised. Trade creditors are obligatlons to pay for good5 or setvl¢e$ that have been acquired in the ordinary course ol operations from suppliers. Amounts payabl8 are classified as current abilities if payment is due Mthln one year or less. If not. they are presented as non-current
THE PEMBROKE STrEETTRUSTCIO li8bllities. Trade creditor8 are recognised initiallyattran$action prlcg and Subsequently rne88ud at 8mortised cost usingthe effeetive Interest method. Derocoinition of flnancl8l Ilabllltl Fin8ncl81118blLlties are derecognised when the Cherws contr3ctu81 obitgations expire or are dlscharged or cancelled. Crftlcal accountlng utlmatO8 and ludiem•nls In the appltcation otth8 Charlty's accounting poiicieB. the trusts88 ere requlred to make Judgements. estimates end a8sumptlon8 about the carrying amountof assets and liabi1Stte8 that ere not roadlly apparent from Other sources. The estlmates and assocl8ted assumptions ore based on hlstorical experlence end otherfactorsthat 8re considered to be relevant. A¢tu8l resultg may dlfferlrom these estimates. Th8 estlmates And und8rlylng assumptlons are r8vl8wed on an ongolng bas18. R8v181ons to accounting estimates are recognised in the perlod in whlch the astlmate 18 rovlsed wheT8 the revlslon affects only th8t period, or In the perlod of the revision and futUTe periods vthere th8 revtslon affects both current and future perlods.
THE PEMBROKE STrEETTAusrcio Staternent of Flnantial Acllrfths forth8 pfflod ended 31 DKember 2025 Unr•strkted Funds 2025 Note Charftable ACtIe$ Investments Total In¢•m 23391 223,398 .0 218.013 Ewpendllyr• Charftable acuvlrfes 1760 2A61 Net 8alnslllossesl on Investments 7J38 N•t Inend m0ment In fundi 227.976 219J21 Total funds brDu8hl forward 421A4J ZDI,627 Totsl fuftdsurfl fonvd 649A24 42L+148
THE PEMBROKE STrEETTrUSrcio statement of Hnanclal P05itlon as at 31 DKember 2025 Investments 35,119 35,119 Cash al bank and In hand Acuued Interest Total current assets 643,257 6.167 649AZ4 38¥25 4,404 380,929 Cr•dltorJ: nOutsdWllh1n oney•xr 649024 3B6,329 Total •M•ts1•15 Gllryert IlabllRl•sand Net 421 ihvrflrlLt•d Fundj 649h24 21 ,Ix.&)ZOand signed on Its behalf by.. Approved by the Trustees on.. . . ...... Trttee 10
THE PEMBROKE STrEEfTRUSTCIO I Incom• Unrestrlrted 2025 Unrestricted 2024 Chirit•bJe Income Donatfjons 2CQ,O 2.000 2)00 Investn*nt In¢om• Income from Ilsted Investments Interest 1,681 21,717 23398 1,971 16.042 18,013 Totsl Incom• 223398 218.011 2 Exp•ndl¢ur• Ch•rltabh Actlvld•s. Unr•s1rf¢I 2025 portC05ts Goverft•n¢• Costs T11 Bank char8e5 Le8al fees 60 1700 2.760 60 700 2024 Support Cots Govorn•nc• Tolil nk char8e5 Legal fees 61 61 61 3 N•t i•ln on lTrv•stm•nts 2025 Reallsed galn on dlsposal of Investments G•Sn on rlU•0 of Investments 7.338 4.269 4,269 7.338
THE PEMBROKE STrEEfTRUSTCIO Usied kn¥e5tments 2024 Cost or ¥aluatSon At beglnnir6 of period Disposals At d05•01 perlod 35.119 135,1191 35.119 35,119 5 U¥blllt1•5• •mounts du• wlthln on¢ 20 2024 A¢tNals 600 6 Analpls of mo¥em•nt in R•Mrves 8al*K• at Iwbme lor E¥•MlltuM Invesim•nt B•l•n¢e It rt•rt of ihe period GalThs end of perfod p•rlod Perfod end JI Dtt•mber 2025 Unr•strktsd-Q•A•rnI Fund 421,448 223.398 12.760 7.338 649M24 Pqrlod •nd•d 31 Docmnb•r 1024 Uhrn51rki•d. G•n•rnl 201.627 218.013 12,461 4.269 421 7 Trurtees •nd Rd•tsd Partl None of the truslees lor any pÈrsons Connerted wlth them) recelved any remuneratkon or relmbursed expense5 durfn6 the current or prlor perlods. There werp no LOsable related party tran5aCtlon dur1 the current or prlor perlod5. 12