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2024-12-31-accounts

HENRY FAWCETT FUND (Charity Number 207772)

ANNUAL REPORT & ACCOUNTS

Financial Year: 1 January - 31 December 2024

Contents

Page
Trustees Report 2-4
Independent Examiners Report 5-6
Statement of Receipts and Payments 7
Statement of Assets and Liabilities 8
Notes to the Accounts 9-10

1

HENRY FAWCETT FUND TRUSTEES REPORT 2024

1. Reference and Administrative Details

Financial Year: 1 January 2024 - 31 December 2024

Charity Name: Henry Fawcett Fund Registered Charity no. 207772

Principle and Registered Office: St Peter’s Bethnal Green, The Vicarage, St Peter’s Square, London E2 7AE

Bankers: Barclays Bank, 126 Moorgate, London EC2M 6SX

Examiner: Derek Rodwell - Impact The Future Ltd, 117 Chestergate, Macclesfield, SK11 6DP

2. Structure, Governance and Management

Henry Fawcett Fund is governed by a board of trustees that includes the Vicar or Priest-in-Charge as well as two serving Churchwardens of the Parish of St Peter with St Thomas Bethnal Green.

Any person who is invited to act as a trustee and would not be disqualified from action may be appointed to be a trustee by the decision of the trustees.

This year, Rev. Philippa Cook became the Chair of the Henry Fawcett Fund, after a period of vacancy due to the departure of Rev’d Heather Atkinson.

During the period, the following served as trustees of the charity:

The Henry Fawcett Fund held trustee meetings on:

3. Objectives & Activities

Henry Fawcett Fund was registered on 22 September 1962 and has existed for the benefit of individuals and organisations who are connected to the Parish of St Peter with St Thomas Bethnal Green, mainly through the provision of grants that prevent or relieve poverty.

4. Achievements & Performance

Income (totaled £103,540)

2

(a) Annual Share Dividend Payments

In 2024, HFF received £15,650 from investments held with Charles Stanley and £981 as a final dividend before the sale of shares in Shell. £86,909 was received from the sale of the Shell shares.

(b) Other income

No other income was received.

Expenditure (totalled £22,604)

(a) Discretionary grants (£3,062)

£962 was granted for a local community trip to Ely Cathedral.

£2,100 was granted to St Peter’s to be spent in the community at the discretion of the vicar. £1,600 of this was given in bursaries to enable families and individuals in need to attend the Focus summer festival in July. The remainder of the Vicar’s Discretionary Fund was used to help the poor and needy of the parish.

(b) Associate Priest, St Peter’s Bethnal Green (£10,420)

The Associate Priest is a part-time post, part-funded by the Henry Fawcett Fund to engage with people of all ages in the local community. This included a weekly drop-in with an art and craft focus, open to the local community, as well as a regular climbing group for both primary and teenage-aged locals.

(c) Operations Director, St Peter’s Bethnal Green (£5,500)

The Operations Director is a part-time post partially funded by the Henry Fawcett Fund since 2016, designed to help St Peter’s to efficiently manage projects that have a beneficial impact for the church community. This includes: project management, strategic input income generation, staff and volunteer management and operational management. The role oversees a number of external relationships that extend the use of the church building to local groups and residents.

(d) Teams Administrator, St Peter’s Bethnal Green (£2,398)

The Teams Administrator is a part-time role partly funded by the Henry Fawcett Fund. A key aspect of this role is ensuring St Peter’s safeguarding policy is fully adhered to, including processing Disclosure and Barring Service checks and facilitating volunteer safeguarding training.

(e) Other administration and governance costs

Other administrative costs included trustees’ indemnity insurance (£413), payment to Impact the Future for the annual inspection of the 2023 accounts (£800), and postage costs (£10).

(f) Re-investment of funds

The money received from the sale of HFF’s individual holdings in Brambles was reinvested with Charles Stanley. £80,000 of the monies from the sale of holdings in Shell (total of £86,909) was reinvested with Charles Stanley early in 2025.

5. Financial Review

The total income for 2024 was £103,540 while expenditure was £22,604. The cash balance of the fund at the end of the accounting period was £136,015.

The loan of £23,000 to the Bethnal Green Spear Trust that was outstanding throughout 2024 was repaid in full in September 2025.

The value of the Charles Stanley portfolio at the end of 2024 was £595,967 (2023: £569,755).

A note on the investment policy of the Henry Fawcett Fund

Around 2013 there was an influx of new trustees to the Fund. The trustees noted that the Fund’s investments were many and varied and also beyond the capacity of the trustees to manage them

3

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Independent Examiner's Report to the trustees of The Henry Fawcett Fund

I report on the accounts for the year ended 31st December 2024 that are set out on pages 7 to 10.

Respective responsibilities of the Trustees and Independent

Examiner

The trustees are responsible for the preparation of the accounts. They consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.

Having satisfied myself that the charity is not subject to audit and is eligible for independent examination it is my responsibility to:

This report, including my statement, has been prepared for and only for the charity’s trustees as a body. My work has been undertaken so that I might state to the charity’s trustees those matters that 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 any other than the charity and the charity’s trustees as a body for my examination work, for this report or for the statements that I have made.

Basis of Independent Examiner's Statement

My examination was carried out in accordance with the General Directions given by the Charity Commission.

An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you the trustees, concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in a full audit, and consequently I do not express an audit opinion as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.

Independent Examiner's Statement

In connection with my examination, no matters have come to my attention:

  1. which give me reasonable cause to believe that in any material respect the requirements

5

Derek Rodwell FCCA (Fellow of the Chartered Association of Chartered Accountants)

Impact The Future Ltd, 117 Chestergate, Macclesfield, SK11 6DP

Dated:8[th] October 2025

6

Henry Fawcett Fund Statement of receipts and expenses For the year ended 31st December 2024

Incoming Resources
Investment Income
Bike loan repayment
Incoming resources before sale of shares
Income from sale of shares
Total Incoming
Resources
Resources Expended
Trips & Outings
Vicar’s Discretionary Fund
Miscellaneous small grants (see annual report)
Staffing grants to SPBG
Governance and admin
Legal costs
Total Resources Expended before investments
and loans
Investments in shares
Loan to Henry Fawcett Foundation
Total Payments
Excess/(deficit) of receipts over payments
Bank balances brought forward at 1st January
Bank balances carried forward at		 Unrestricted
Funds
Endowment
Funds
Total
Unrestricted
Funds
Endowment
Funds
Total
2024
2024
2024
2023
2023
2023
£
£
£
£
£
£
16,631
0
16,631
19,829
0
19,829
0
0
0
0
0
0
16,631
0
16,631
19,829
0
19,829
0
86,909
86,909
18,508
50,000
68,508
16,631
86,909
103,540
38,337
50,000
88,337
963
0
963
504
0
504
2,100
0
2,100
2,000
0
2,000
0
0
0
630
0
630
18,318
0
18,318
16,386
0
16,386
1,223
0
1,223
423
0
423
0
0
0
0
0
0
22,604
0
22,604
19,943
0
19,943
0
0
0
50,000
50,000
0
0
0
23,000
23,000
22,604
0
22,604
42,943
50,000
92,943
(5,972)
86,909
80,937
(4,606)
0
(4,606)
55,078
0
55,078
59,684
0
59,684
49,106
86,909
136,015
55,078
0
55,078

Page 7

HENRY FAWCETT FUND

Statement of Assets and Liabilities

For the year ended 31 December 2024

Note
LONG TERM INVESTMENTS
INVESTMENTS
Investments at market value
1
BANK AND CASH BALANCES
Cash at bank
2
SHORT TERM LOAN TO BGST
3
TOTAL BANK AND INVESTMENT
BALANCE
SUNDRY LIABILITIES
Amount owed for independent examination		 Unrestricted
Funds
Endowment
Funds
Total
Unrestricted
Funds
Endowment
Funds
Total
2024
2024
2024
2023
2023
2023
£
£
£
£
£
£
5,741
590,226
595,967
5,741
681,445
687,186
49,106
86,909
136,015
55,078
0
55,078
23,000
0
23,000
23,000
0
23,000
77,847
677,135
754,982
83,819
681,445
765,264
(800)
0
(800)
(800)
0
(800)

Page 8

Henry Fawcett Fund

Notes to Accounts

For the year ending 31[st] December 2024

1. Long Term Investments

This is the market valuation of a portfolio of investments as at the end of December 2024. Most of the investments were originally purchased in the name of the original trustees and not in the charity's name so the trust has been going through the process of completing stock transfer forms into the names of the current trustees. This process was completed in March 2025.

Movements in Investments

Opening market value of investments 01/01/23
Increase in market value in 2023
Opening market value of investments 01/01/2024
Decrease in market value in 2024
Proceeds for sale of individual shares (Shell)
Closing market value of investments as at 31/12/2024
2. Cash at bank and in hand
Current Account- HFF
Saver Account- HFF
Current Account (under SPBG)		 £
681,767
5,419
687,186
(4,310)
(86,909)
595,967
£
130,909
21
5,085
136,015

The bank balance above includes £86,909 from the sale of the Shell share in March 2024. £80,000 of this was re-invested in the Charles Stanley portfolio early in 2025.

Loan to Bethnal Green Spear Trust (BGST)

An interest free loan of £23,000 was made to BGST in 2023. This was repaid in September 2025.

4. Assets and liabilities

Apart from the amounts described in the statement of assets and liabilities the Henry Fawcett Fund had no further assets or liabilities at the end of 2024.

Page 9

Registered Charity (207772)

5. Related parties

In 2024 a number of trustees of the Fund (Rev Heather Atkinson (until 22[nd] February 2024), Rev Phillippa Cook (from 19[th] November 2024), Pamela Haluwa (from 14[th] April 2024), Andrew Rixon and Maria Wynard (until 14[th] April 2024)) were also on the PCC of St Peter’s Bethnal Green. During the year a grant of £5,500 was agreed towards the salary costs of an operations director employed by St Peters who is regarded as spending 50% of their work on social transformation projects. A further grant of £10,420 was also given to St Peter’s towards an associate priest and £2,398 towards a team’s administrator. There was also a grant given towards the Vicars Discretionary Fund at SPBG of £2,100 which was spent mostly on bursaries for Focus in 2024. £962.50was also sent to St Peter’s to pay for a coach trip to Ely.

For further details on these grants see the annual report.

In May 2023 a loan of £23,000 was made to Bethnal Green Spear Trust. At the time the Rev Heather Atkinson was a trustee of both the Spear Trust and of the HFF. This loan was repaid in September 2025.

Accounting Policies

Basis of Preparation

The financial statements have been prepared as receipts and payments accounts as allowed by s.133 of the 2011 Charities Act for non-company charities with an income under £250,000.

Assets and liabilities are recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note.

Funds

General funds represent the funds of the trust that are not subject to any restrictions regarding their use and are available for application on the general purposes of the trust activities. Restricted funds are those donated for specific purposes. Endowment funds are funds where only the income (dividends and interest) can be used by the charity.

Fixed Assets

Henry Fawcett Fund has no tangible fixed assets.

Income from Investments

Dividends are accounted for when received.

Investments

Investments are shown at the market valuations at the accounting period end date.

.

………………

Page 10

Registered Charity (207772)