ANNUAL REPORT OF THE TRUSTEES OF THE CAMBERWELL
CONSOLIDATED CHARITIES FOR THE YEAR ENDED 31 MARCH 2025
Registered Charity Number.. 208441 Registered Office: 49 St James's Street
London
SWIA 1AH
Trustees
Michael Mitchell Chair
John Major
Hon Treasurer
Gloria Brown (to 19 September 2024)
Darren Cockburn
Nicholas George
Veronica Hunt
Erwin Jonathan {from 19 September 2024)
George Riccardi
Structure
overnance and mana
ement
The trustees were incorporated under a certificate of incorporation by the
Charity Commissioners dated 14 February 1919. The Charity is regulated by
a scheme of the Charity Commission dated 28 July 1999, replacing earlier
schemes. The 1999 scheme provided for the appointment of all Trustees by
the Council of the London Borough of Southwark. An amendment to that
scheme made by resolution of the Trustees on 17 February 2011 provides
for not more than six Trustees to be appointed by that Council and not more
than six to be appointed by the Board of Trustees. Appointments are initially
for four years and may be renewed.
Trustees volunteer their time freely and receive no remuneration or reward.
During the period under review, no trustee had any interest in, or conflict
with, the operations of the Charity. The Charty has no employees. A clerk
acts on a voluntary basis to assist in the administration of the Charity and, at
the discretion of the trustees. is eligible to receive an honorarium.
The Trustees meet four times a year as a Board In addition, a Finan
Committee and a Beneffts Committee meet as necessary.
The Charity's investrnents were managed by Sarasin & Partners LLP and
Pinnick Lewis LLP, incorporating Hfm Tax and Business Services Ltd, was
retained to provide book-keeping and administrative services.
Page 1

Ob'ectives and activities
The Charity consolidates a number of earlier charities founded in the
nineteenth ￿ntury and earlier for the relief of poverty in the fomer parish of
Camberwell. The purpose as stated in the present, amended. scheme. is to
pay benefits to poor persons of good character who have lived in the former
parish of Camberwell foi not less than two years. The Trustees, following the
policy of their predecessors, have concentrated on elderly people whose
income is at or a little above the State minimum pension level. The Trustees
invite applications on the Charity's website and by distributing a leaflet.
Continuing a predecessor charity, the Trustees are deemed to distribute £80
to provide gifts at Christmas for eight poor persons resident in the former
parish of Camberwell.
Public benefrt
The Trustees have reviewed the Charity Commission's guidance on the
requirement to report on public benefrt The Trustees are satisfied that the
objectives and activities of the Charity, described above, provide tangible
public benefit to elderty people with limited means residing within the
Charity's area of benefit" the criteria used to assess those who may benefit
are not unreasonably restrictive.
Achievements and rforman
The Trustees completed their annual review of the risks to which the Charity
is perceived to be exposed and adopted the updated Risk Register at their
meeting on 6 February 2025.
The number of the Charity's beneficiaries at the year-end stood at 123
individuals, net (31 March 2024.. 118), and reflects new beneficiaries off-set
by those who died or who no longer met the Charity's criteria. Trustees are
aware of their obligation to ensure that those in receipt of payments from the
Charity continue to meet the criteria to qualify as a beneficiary.
During the year individual beneficiaries received £42012024.. £410) each
and couples received £625 (2024.. £610). The total amount paid out to
beneficiaries was £47,950 as compared with £48.230 in the previous year.
This distribution was fInan￿d from the Chaiity's investment income (see
below) and a substantial grant from the Henry Smith Charity. a new grant
from Southwark Charities and a reduced grant from The Dulwich Almshouse
Charity. The Board has expressed its thanks to these grant making bodies
which have make a substantial contribution to funding the work of the
Charity. Expenditure (including the distribution to beneficiaries) exceeded
Receipts by-£1,598 (2024.. -£5.159). The Board has agreed, in the short
term, to fund shortfalls in income over expenditure from capital by
withdrawals from the investrnent portfolio.
Page 2

Financial review
The Truslees have resolved to take advantage of Ihe Charities Act 1993
which pemiits the preparation of accounts on a "receipts and payments"
basis. and to dispense wilh an independent audit. Mr W G Gibbs of Pinni¢k
Lewis LLP was appointed as IndeperKlent Examiner to review these
accounts.
Sarasin & Partners LLP. as Fund Manager. is mandated to enhance the
capital value of the Charity's investments over the longer-term whilst
generating Suff￿lent income to meet the requirements of the Charity. A real,
long-term. retum of CPI +3.5% p.a. has been largeled as an appropriate
goal for the Fund Manager
The portfolio is invested in the Sarasin Endowmenls Fund with a benchmark
of 70% in global equities. 15Vts in fixed income, 100A in allernalives and 5 %
in propety. with a weighting in Sterling of 60Yo A representative from
Sarasin & Partnefs LLP attended the meeting of the Board on 6 February
2025 and reported on investrnent strategy and the performance of the
portfolio.
For the year, income produced on the Charity's portfolio was £42.300. as
compared wrth £42,358 for the previous year. The value of the portfolio was
up by £8,374. 0.540/0. at 31 March 2025 and this was after withdrawing
£8,000 to cover the shortfall in income to cover payments to beneficiaries.
Since the appointment of Sarasin & Partners LLP. in August 2019 up until 31
March 2025, the portfolio has returned 34 86¥0 as compared to 46.75% for
the benchmark. The Board is keeping Ihis performance under review.
Al 31 March 2025. the Charity held cash in the sum of £21.214 {2024'
£14.812). The Charity's reseNes are all unreslricled and afe held lo
generate income to fund the payment of benefrts and. going forward. are
considered to be sufficient lo cover these and support and governan
costs.
The Board acknowledged, with thanks. the service of Gloria Brown to the
Charity. 11 was pleased to welcome Erwin Jonathan lo the Board
Approved by the Trustees on 8 May 2025 and signed on their behalf by
Chair of Trustees
Trustee
Page 3

CAMBERWELL CONSOUDATED CHARITIES
Independent examinerfs report to the Trust￿ of Camberwell Consolidated Charltles
I report on the accounts of Camberwell Consolidated CharFties for the year ended 31 March
2025, which are set out on pages 5 and 6.
Respective responsibilities of trustee and examiner
The charity's trustees are responsible for the preparation of the accounts in accordance with the
requirements of the Charities Act 20111-the Acfl.
The charivs trustees consider that an audit is not required for this year under section 144 of the
Act and that an independent examination is needed.
It is my responsibility to=
examine the attounts under section 145 of the Charities Act.
to follow the applicable Directions given by the Charity Commission (under section 1451Sllbl
oftheArt. and
to State whether particular matters have come to my attentbon
8asls of Independent examlnerfs report
My examination was carried out in accordance with general Dirertions 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 explanation5 from the trustees
corbcerning arby such matters. The procedures undertaken do not provide all the evidence that
would be required in an audit, and consequently no opinion 15 given as to whether the account5
present a'true and fairf view and the reF)0rt Is limited to those matters set out in the statement
below.
Independent examinerfs sMement
In connection with my examination, no material matters have come to my which gives me cause
to believe that in. any material respect..
accounting records were rbot kept in accordance with section 130 of the Charities Act or
the accounts do not accord with the accounting records
I have no concerns and have come across no other matters in connection with the examirbation
to which attention should be drawn in order to enable a proper understanding of the accounts
to be reathed.
W G Gibbs FCCA
Pinnick Lewis LLP
Handel House
95 High Street
Edgware
HA8 70B
16 September 2025
PwJe 4

CAMBERWELL CONSOLIDATED CHARMES
RECEIPTS AND PAYIIENT8
ACCOUNT
YEAR ENDED 31 ￿RCH 2025
2025
2024
REVENUE RECEIPTS
Invoslm•nl Income
Income from investM￿ts
Bank interest
42.3Crf)
33
42.333
42,358
30
42.388
Grants
Henry Smith Charity
Soulhwark charit￿S
The Duhmch hjmshouse Charity
4,350
5,000
1,750
11.1(M)
5.2IXI
3,500
8,700
Total Rev•nu• Recelpt•
53833
51,088
REVENUE EXPENDED
Charilablg actlvltes
Pewons PaMJ
47,950
47,950
48.230
48.230
Governance costs
Honoraria
A¢counts'ng seNices
1,250
5,681
6,931
1,2CMJ
6,072
7,272
ml￿•11ane0uS costs
Bank Charges
Postage and Stslro
P4Jvertising
Sundries
95
590
745
Total R•v•nue Exp•nded
$5.031
56,247
NET EXPENDITURE
(1,5981
(5,159
CAprrAL RECEIPTS
Sale of investments
Tolal Capital Roc•ipts
8.000
8,000
6,000
6.000
NET RECEIPTS FOR THE YEAR
Cash at bank and in hwKI at 31 March 2024
6,402
14,812
13.970
Cash at bank and in hand at 31 March 2025
21.214
14,811
Page 5

CAMBERWELL CONSOLIDATED CHARMES
STATEMENT OF PIONETARY ASSETS
AT 31 PIARCH 2025
2025
Unrestricted
Fund
2024
Unrestrthd
Fund
Bank and in Hand
CAF DeFOSit ac£xwnt
CAF Current Account
Sarasin INuid assets
35
14,761
16
21.168
10
Totsl Cash at Bank and in Hand
21.214
14.812
Investments
Market
Value
Market
Value
Sarasln EndoThnts Fund
1.546.098
1.537.724
Total investments
1,537,724
TOTAL ASSETS
1.567.312
1,552,536
RECONCILIATION OF MOVEMENT IN UNRESTRICTED FUND
Total •88•ts M at 31 IAav¢h 2024
1.552.536
1,444,704
Nel Expenditure
Increase in market vaue of investments
Sale of Investrnents
(1,5981
8.374
8.000
15,1591
106,990
6,000
Total assth •$ at 31 IAarch 202S
1567.312
Approved by th• TnMtw• on 8 May 2025
Chair Of
rust•e5
Trustee
Page 6