## **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: - Heather Atkinson (Vicar of St Peter’s Bethnal Green - resigned 22 February 2024) - Mrs Philippa Ponniah - Mrs Pamela Haluwa (continuous service as trustee; appointed Churchwarden of St Peters Bethnal Green 14 April 2024) - Mr Andrew Rixon (Churchwarden of St Peter’s Bethnal Green) - Mr Andrew Walton - Mrs Edna Waterman (deceased 05 March 2024) - Ms Maria Wyard (Churchwarden, resigned 14 April 2024) The Henry Fawcett Fund held trustee meetings on: - 22nd January 2024 - 19th February 2024 - 10th September 2024 - 19th November 2024 ## **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 name (rf f(xrMf I￿￿tee$ of ts Henry Fa¥Kell FLrrfJ ratrw lh￿ In nwne of IJK* FurKI rtsott Fulur• plan8 1184197 Ircrn ts twiTrJ d J*Kwy 2025. P￿Ik B•n•fft trust￿ cffifinn Ihal tr*y h8ve cixryknj Thilh tr* in sec1N￿ 17 of ts Chanbes Act 2011 to regard lo Chanty Cms%(x)'s general gwjance cffl rAjbI￿ ￿neffl. AM inc£rn ty Fw)d is ub'li8ed In iThJprfN*u* ￿ cYgarMsatKrn C￿rected to the Parlsh of St ApsYth*l ty the Boord of Truilo85 8r#l rts bthaff ty. RevererKI Phili￿9 Co Chair of Tnnlees Henry F￿ett Furrtj Date. 7 1 i olzs ## **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: - examine the accounts under section 145 of the 2011 Act; - follow the procedures laid down in the General Directions given by the Charity Commissioners section 145(5)(b) of the 2011 Act; and - state whether particular matters have come to my attention. 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 - to keep accounting records in accordance with s.130 of the 2011 Act; or - to prepare accounts which accord with these accounting records have not been met; or 2. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. 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)