ST GEORGE THE MARTYR CHARITY
Reglstered Charlty Numbor: 208732
TRUSTEES, ANNUAL REPORT
AND FINANCIAL STATEMENTS
FOR THE YEAR ENDING
31 DECEMBER 2024
Pau• 10133

ST GEORGE THE MARTYR CHARITY
TRUSTEES, ANNUAL REPORT
AND FINANCIAL STATEMENTS
FOR THE YEAR ENDING
31 DECEMBER 2024
Contents
Charfty Informatlon.............................................................................................................,........,,.........,..
Chairfs Introduction....................................................................................................................................
Report of the Trustees. ........................................................... .................................................................
Independent Audltorfs Reportto theTrustees of StGeor8e The Martyrcharlty................................. 21
ststement of Fin•ncial Artivitles..
.24
Balance Sheet............................................,....................................................,........,...................,............ 25
Notes to the Flnandal Ststements.......................................................................................................... 26
Pag• 2 of33

Charity Informatlon
St George the Matyr Charity
Regisl8red Charity Numb8r.' 208732
Fr Benlamln Bell
Rgbokah Bostan, Chalr
Patrick Crgckford
Katherine d8 Kr8lsèr IAppointed Marth 20251
lan Duncan (Retired March 2024
Amlr Eden (Rasigned February 20251
Julig Fox
Ex-officio
Nominative
Cctroplalive
Nomlnallve
C¢>optative
Nominatlvo
Cr*pOPtalive
kl
Sarah Haffis
Lilian Lalinwo.Olalide
Alderman Tim McNally
A(lele M¢Jrrls (Reslgned June 20241
Lauren Batstone (Appointed March 20251
And￿W Starte IRetired March 20251
Lorraine Thomas IAppolnt•d December 20241
Lorraine ZU￿ta
Nomlnatfve
ec￿pIativfj
Nofflinative
Nominative
Nominatlve
Nominative
N¢)minalive
Nominative
Acwuntanl
Karon Cook M.A FCA. Infinty A￿OUntants Ltd
Andrew Murphy, Clerk
Phlllppa Van Os. Visitor
Catherfne Collins, Visitor
Addr•ss
Marshall House
66 Newcomen Street
London
SE1 iyr
B•nk•rs
Un'ty Trust ￿nk
Customer Services Centre
Nine Brindley Place
8imiingh8m
812H8
Barclay8 Bank
UK pl¢
1 Churchill Place
London
E14 5HP
Indep•nd•nt Audltorn
A2ets Audll Serylces,
Chartergd Accountants
2nd Flo¢y, Regis House
45 King Wllliam Stre8t,
London
EC4R 9AN
Paqe 3 of 33

Chair's Introduction
I'd like to start my introduction bythankingTim McNally, from whom I took over as Chair
in June 2024. Tim had been Chairfor five years and led the Board through a major
change process, part ofwhich was duringthe COVID-19 pandemic and lockdown.
There were severalchanges ofTrustees during 2024 and the first quarter of 2025. lan
Duncan retired after 15years as a Trustee in 2024 and Andrew Starte retired in March
2025 after 16 years. Both made huge contributions tothe Charity including as Chair of
the Grants & Applications Sub-committee and Treasurer. respectively. Adele Morris
also stood down as a Trustee in 2024 and Amir Eden in early 2025. I would like tothank
them all for the contributions they made to the Charity
Towards the end of 2024 we undertook a Trustèè recruitment exercise. Lorraine Thomas
joined the Board in December 2024 and Lauren Batstone and Katherine de Kretser in
March 2025. 1 expect two more newTrustees to join us during the remainder of 2025.
Atthe beginning of 2024 we also welcomed our newvisitor, Cath Collins. This followed
the Board's decision in 2023to expand our Visitor capacity sowe can provide more
pastor81 care. Cath has made a great impression in her first year with the Charity.
In May, the Charitycommission approved our application to absorb the Surrey
Dispensary into St George the Martyr Charity. This has allowed us to streamline the
governance and financial management ofthe two formerly separate charities.
I would like to end with sincere thanks to all the Charity's hard-working staff. to my
fellow Trustees, to our accountant and independent investment advisors, and to the
many other organisations we have worked with overthe year.
Rebekah Bostan, Chairofthe Board ofTrustees
Page4 of 33

Report of the Trustees
The Trustees present their report and financial statements for the year ended 31" December 2024.
The financial statements have been prepared in accordance with the accounting policies set out in
notes to the accounls and comply with the charity's governing document, the Charities Act 2011
and Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to
charities preparing their account5 in accordance with the Financial Reporting Standard applicable
in the UK and Republic of Ireland IFRS 1021 leffertive l January 20191.
Governin
Document
The Charity is an endowed Charity, comprising the following funds..
The main St. George the Martyr Fund, which was created by the amalgamation of 20
charitable funds within the Parish of St. George the Martyr, Southwark at the end of the
19th century.
The Fenner and Martin Bible Fund
The Delaforce Educational Foundation
Surrey Dispensary, which wa5 linked to St Geor6e the Martyr Charity in May 2024
The Charity is unincorporated and commonly called Yhe St George the Martyr Charity.. It is
regulated by a scheme of the Charity Commissioners of 12th September 1975. The permitted uses
of the Surrey Dispensary funds are set out in a separate scheme dated S January 1971.
anisational structure
The affairs of the charity are managed by the Trustees who generally meet foyr times a year.
The Trustees have appointed some of their number to 51t on two Sub-committees..
Grant5 & Applications.. to consider membership and grant applications from individuals and
organisations
Fir)ance & Investments.. to oversee the Charity's financial affairs, including the investments
of its endowment and accijmulated surpluses.
Day-to-day management is the responsibility of the Clerk.
olntmen
induction and trainin
of Trustees
The Trustee Board comprises..
One ex-offitio Trustee, who is the Rector of the Ecclesiastical Parish of St. George the
Martyr. Southwark
Up to seven Nominative Trnstees who are appointed by the Council of the London
Borough of Southwark for terms of four years: these are persons resident or carrying on
business in the area.
Up to five Co-optètlve Trustees, appointed for terms of five years, who, through
residence, ottupation or employment, have special knowledge of the area of benefit.
Page 5 of 53

Nominative Trustees may serve up to three tems of four years: Co-optative Trustees may serve up
to two terms of five years. This wa5 agreed by the Board in 2020.
During 2024, two further Nominative Trustee positions became vacant followin8 the retirement of
lan Duntan and the resignation of Adele Morris. A trustee recruitment exercise was conducted in the
latter half of the year resulting in the appointment of Lorraine Thomas as a Nominative Trustee in
December 2024, and Lauren Batstone and Katherine de Kret5er in March 2025. Amlr Eden resigned
as a Nominalive Trustee in February 2025.
At the end of the accounting period, one Trustee had exceeded the maximum number of terms.
Andrew Starte's Nominative Trusteeship had been renewed in March 2021 for one further term.. the
Trustees agreed to waive the policy and permit him to remain for a further 4-year temi so that he
tould continue in the T￿osurer role that he took on in June 2020. Andrew fetI￿d as a Trustee in
March 2025.
In 2019 the Board agreed that all Trustees should undertake at least one day's training on the roles
and responsibilities of chartty trustees unless they can demonstrate that they have undertaken
similar training in another trustee role within the past three years. All the newty appointed Trustees
will have completed thelr training in the early part of 2025.
Trustees are also encouraged and facilitated to undertake training on other matters related to their
roles. During 2024 a number of Trustees participated in on-line trainin8 on charity investments.
mana
ement
rsonnel remuneration
Salaries of key mana8ement personnel are Set by the 8oard, based on salary reviews, market rates
and available funding.
Publlc Benefft and tharltable actlviti
The Trustees have referred to the Charfty Commission's general guidance on public benefit when
reviewing our aims and objectives and in planning our future artivitles. In p8rticular, we have
considered how planned activities will contribute to the aims and objectives that are Set out in our
Charity Schemes of 1971 and 1975. The Trustees are satisfied that the charity meets the Charity
Commission's guidelines regarding delivering public benefit.
Our current charitable attivities are describeil below, listed by Fund.
the Mart r Fund
Unrestricted
"Pensions~ ond "pensioners"
The Charity makes discretionary charitable payment5 IDCPs1 to'pensioners" These are defined in
the Scheme as "poor persons who ... have resided in the Ifomier Metropolitan Borough of
Southwark areal for not less than five yeaTs
The Trustees have detem)ined, for the time being, to confine such payment5 to persons who are of
State Pension age and meet certain income and savings criteria. The recipients of such payment5-
the "pensioners"
are called the Full Members of the Charity. Such title does not confer any
authority to participate in the declsion-making of the Charitv.
Page 6 of 33

Since the start of 2019. others who have not fulfilled the 5-year residency requirement may also be
appointed as Associate Members. They do not receive the discretionary charitable payment but are
able to take advanta8e of the Charity's other service$1see belowl-
During 2024 discretionary charitable payments of £85 were made to all Full Members in March, lulv
and November. We also continued the proce55 of rea55essing all Full Members who had been such
for five years or more. to confirm that they continue to meet the financial eligibility criteria set by
the Trustees. During 2024, one Full member was discovered to have higher income andlor savings
than the eligibility threshold. They were miErated to'honorary member, status, which means they
can participate in the Chorty's social activities (see below) but have io pay lo do so and they do not
receive the DCP.
Relief in need
The Scheme permits the Trustees to "apply the income of the Charity to... Telieving either generally
or individually persons resident in the Iformer Metropolitan Borough of Southwark areal who are in
conditions of need, hardship or dist￿55 by making grants or money or paying for iiems, services or
facilities calculated to redute the need, hardship or distTess of such persons.
During 2024 such application of income comprised..
The provision of grants to individuals who meet certain income and savings criteria agreed
by ihe Trustees. Information on the number and value of suth grants Is provided below.
The provision of social opportunities such as free holidays, day trips and theatre outines to
members and their carers.
Home hairdressing and nail care Se￿I(e5.
Christmas gifts for members.
Personal outreach 5UPPOrt by the Charity's Visitor to assist Members with day-to-dav
problems, connect them to other service providers and evaluate what additional support the
Charity can provide, e.g. through the provision of grants.
The intended benefits of the above we￿.
Prevention of poverty andlor alleviation of the effects of poverty
Reduction in loneliness, isolation and exclusion
Improvements in health and mental wellbeing
The Charity is independent of the Church and provides support and seNices to people of all faiths
and none.
Fenner and Martin Bible Fund
Restricted
The purpose of the Fund 15 to purchase Bible5 for distribution to poor. young people who are
resident in the former Metropolitan Borough of Southwark area. No grants were awarded in 2024.
Page 7 of 33

During 2023, the Trustees decided that the Fund would be better managed by the Newtomen Collett
Foundation, who are experienced in providin8 grants to children and young people. However, as at
31" December 2024 the transfer had not been completed.
Delaforce EdLtcational Foundation
ricted
This Fund is to be used for the payment of rent and malntenance improvement of the premises of
the St. George the Martyr National Schools (currently considered to be St Jvde's C of E Primary
School). Any residue of income to be applied by the Trustees in such manner as they think fit. No
grants were awarded in 2024.
During 2023, the Trustees decided that the Foundation would be better managed by the Newcomen
Collett Foltndation, who have relationships with local schools. They agreed to transfer the
Foundation's funds. However, as at 31st December 2024 the transfer had not been completed.
Surre
nsa
Restricted
Surrey Dispensary funds may only be applied "for the purpose of relieving in cases of need, persons
who are sick. convalescent, disabled, handicapped Isicl or infimi by providing or paylng for items,
seryices or fatilities which are calculated to alleviate the suffering or assist the recovery of such
person5 in such cases but are not readily available lo them from other sources.
The area of benefit for Surrey Dispensary funds is the area of the former Metropolitan Boroughs of
Southwark and Bermondsev.
Our values
We will always be kind, considerate and non-judgemental in our interactions Wbth people in
need, hardship or distress.
We strive to reach and assist as many of those who meet our criteria for assistance as possible.
including those who may have been overlooked in the past due to their ethnicity, language or
We aim to Provide high quality support to our beneficiarles, actively asking for and responding
to feedback and being open and honest with people.
We will to-operate and collaborate with other organisations to assist people in need, hardship
or distress in our area of benefit.
We will plan and make decisions openly and objectively, as far as possible based on evidence of
current and future need and provision in our area of benefit.
We exercise tareful stewardship of the funds provided by our historic benefactor5, to ensure
they are used to addre55 current and fulure need, hardship and distress effectively and
efficiently.
Page 8 of 33

Statement on Public Benefit
The objertives and activities, and achievement an(1 performance sections of this report clearly set
out the activities which the charity undertakes for public benefit. The trustees confirm ihat they
have complied with the duty in Sertion 4 of the Charities Act 2011 to have due regard to public
benefit guidance published by the Commission in determinin8 the activities undertaken by the
Charity.
Review of 2024
Business as usual
l. Membership
In 2024 we recruited 18 new members. Durin8 the year we lost 28 members and the total at
the year-end was 228 Icompared to 237 at the end of 20231. Of those-
205 were Full Members, eligible to enjoy all the Charity's service5 and receive Discretionary
Charitable Payments of £85 in March, july and November.
6 were Associate Members, who had not resided in the Area of Benefit continuously for five
vears and are not eligible to receive Discretionary Charitable Payments
17 were Honorary Members. who do not receive Discretionary Charitable Payments orfree
hairlnail care and may have to pay to enjoy the Charity's Social opporturbities. These are
usually former Full Member5 whose income andlor savings exceeded the financial eligibility
thresholds when reassessed.
In total, 226 individuals benefited from at least one Discretionary Charitable Payment dLsring
the year.
The Charity's policy is that all Full and Associate Members must be reassessed every five
years, to confirm that they are still eligible for membership. During 2024 we reassessed 26
members. Of those 24 were eligible for ongoing membership, one was transferred to
Honorary Membership and one membership was revoked. Four members did not cooperate
with the reassessment process, one resigned and the other three had their membership
revoked.
The Charity is committed to increasing the diversity of its membership, 50 that it reflects the
community that live5 Wlthin the Area of Benefit. Of the 18 members appointed during the
year, eight are Black, Black African or Black Caribbean, two are Mixed Asian/White and one
is Asian. In total, 61% of new members appointed in 2024 are from Black or Minority Ethnic
communities.
The one community where we still have very little penetration, is the Latin American
community. During the year we started an outreach project to link up with organisations
that support Latin American people in Southwark. The aim is to solicit feedback from them
about the relevance and accessibility of our services, with regards the Latin American
Page 9 of 33

community, and to generate referrals or si8n-postings for membership andlor individual
grants.
We also began a conversation with Southwark Council's Revenues Team about direct
mailouts to Pension Credit recipients within the council wards that are wholly or mainly
within the St George the Martyr Area of Benefit. They individuated that they are willing to
help, and the project will be progressed in 2025.
2. Sociol opportunities
36 members plus nine carerslcompanions enjoyed the summer holiday- a four-night break
at the Warnerfs Sinah Warren resort in Hayling Island. We applied the Same system as in
2022 and 2023 for prioritising places based on individual need. There is a clear raison d'etre
for the provision of holidays, which was used to assess individuals, applications for them.
In addition to the holiday, we organised our usual Winter Party at the Brick Lane Music Hall
and three coach outings, four theatre trips and three lunches at local pubs. 126 members
enjoyed at least one of the above. This is about the same as in 2022 and 2023, confirming
that the lower level of interest in trips, post-COVID was not a temporary phenomenon.
83 members attended the Winter Party in February along with 24 carers/companions- this
was slightly higher than in 2023 but still significantly lower than in pre-COVID years. We
were pleased to be able to sell SO spare places to Southwark Charities. Several of our
members were transported to and from the Winter Party by accessible taxi. A growing
number of members have significant mobility impairments, and it is proving difficult to
ensure their safety when transporting them in a single accessible coach.
We signposted Members to other Charities, social activities through the four-monthly
Members newsletter, and through pastoral care interventions.
3. Homecore services
Over the course of the year 19 Member5 benefited from the home hairdressing service at
least once. This was four more than in 2023.
The Trustees are keen to ensure that the Charity's home hairdressing service meets the
needs of its increa5ir)gly diverse membership. In 2022 we consulted with our members who
are from African and Caribbean backgrounds about their needs, in terms of home
hairdre55ing. Based on the responses we attempted in 2023 and 2024 to expand the
number of providers, so we can meet the needs of all our members. Sadly, we have so far
been unsuccessful but will continue in 2025.
50 members benefitted from the home nailcare service at least once. A further five
benefitted from Age UK's'Happy Feet, service through an agreement reached with Age UK
Lewisham and Southwark in 2023.
Page10of33

Sadly, we lost our home nailcare provider at the end of 2024. In 2025 we will work to find a
replacement. In the meantime we will increase referrals to the Happy Feet service, for
members that are able to get to their centres.
4. Postorol Core
The most important member-related priority for 2024 was the rebuilding the pastoral care
service, which had declined Significantly in previous years as the number of applications for
individual Erants increased. This was one of the major conclusions of a Strategic Planning
Day in September 2023 and led to the decision to increase Visitor capacity.
The additional Visitor started at the beginnin8 of February 2024 and in the following months
the two Visitors identified those members who were most in need of pastoral care. These
were members that had been inactive for over a year, were known to be socially isolated
without familylother support, or were known to have recent health, family, or bereavement
issues that would require support.
Throughout the course of the year, over 70 members benefitted from pastoral care. Most
were pro-active engagement5 resulting from the prioritisation. Some were reactive. in that
they were in response to events experienced by the member during the year, such as illness
or a bereavement.
Support provided included signing members up for grants and/or the Charity's homecare
services, signposting them to other Charities or statutory services, helping them access
statutory services le.g. through form filling or advocating on their behalf). In some cases, it
was simply visiting members to provide emotional support.
5. Christmos glfts
At Christmas 2024, £60 gift cards were sent to 207 member households.
6. Gronts to individuols
During 2024, 107 individuals benefited f rom individual 8rants totalling £59,157. The Charitv
now runs three grant schemes.. one for persons aged 55 and over, one for people under 55,
and the Surrey Dispensary grant scheme for individuals in medical need.
The breakdown of the grants by scheme was=
Scheme
Beneficlaries
38
22
47
107
Total value
SGMC 55+
SGMC Under 55
Surrey Dispensa
TOTAL
£29.966
£16,470
£12,721
£59.157
A further £3,775 of grants were dispensed to 15 people with No Recourse to Public Funds,
through the Southwark Day Centre for Asylum Seekers1SDCASI.
Page11 of33

During the year. there were several discussions about the purpose, nature and scope of the
individual grant schemes. These will be continued into 2025. Some specific decisions were
made in respect of grant applications or referrals for:
People in temporary accommodation
Specialist private medical assessments and medication
Individuals living in multi-generational households
Funeral expenses for people who have No Recourse to Public Funds
Collaboratln
with others
1. Surrey Dispensary
At the end of 2024, the Trustee Boards of both charities agreed to apply to the Charity
Commission to have Surrey Dispensary 'linked' to St George the Martyr Charity. Thi5 would
make the combined governance of the two charities more eff icient and, hopefully further
increase the number of people who benefit from Surrey Di5pensarfs funds.
The Charity Commission approved the application with effect from 17th May 2024.
Henceforth they would be considered as a single Charity for the purposes of registration and
accounting. There will be a single Annual Report within which Surrey Dispensary will be
treated as a restricted fund.
2. 5outhwork Charities
n September 2023. the Trustees agreed to establish a Joint Working Group IJWGI with
Southwark Charities to explore the potential merger between the two charities.
An initial meeting took place in December 2023 and discussions continued into the first half
of 2024. Following this meeting, the SGMC Trustees agreed that the preferred initial option
would be to rationalise the services provided by each charity, prior to any merger. There
was a concern that SGMC'S unique values and ethos would be lost in a merger.
The discussions continued in 2024. Southwark Charities were not keen on such an option
and in May 2024 it was agreed to cease the discussions. However, it was agreed that:
Southwark Charities would inform their members that live in the SGMC area of benefit
about the SGMC hardship grant scheme an(1 encourage them to apply if they have needs
that could be met throu8h a grant.
The Visitors of the two Charities will share information about planned social activities
planned, to Identify options for offering up spare places that may arise and explore options
for collaborating on the arranging of activities.
3. Southwork Individuol Givers Network
It was also agreed that the SGMC Clerk would attempt to convene a forum for the
Page 12 of33

Southwark-based charities that give individual grants, with the aim of improving co-
ordination of fund5, sharing best practice, and increasing the number of people across
Southwark that are able to benefit from them. An initial, and well attended meeting took
place in November 2024 and there was a joint commitment to continue the network in
2025.
Trusted Third Porties
The arrangement with Southwark Day Centre for Asylum Seekers, which began in 2023,
continued to provide a route to extend the benefits of the Charity's funds to population
groups we would not be able to reach directlv.
In 2024 the Trustees agreed to attempt to engage other charities as Trusted Third Parties,
particularly those supporting the Latin American Community and homeless persons. Some
initial progress was made in respect of the former.
5. Stakeholder event
In October 2024 we held a stakeholder event in the crypt at St George the Martyr Church.
The aim will be to publicise the Charity and its services, promote the Charity's profile within
Southwark's voluntary and community sector, to support increased referrals and help build
new Trusted Third-party relationships.
The event was attended by over 60 people, including several Charity Members, who were
able to tell other attendees about the ways that they had been supported by the Charity.
Im
rovin
the or
anisation
l. Member engagement
During 2023 the Trustees agreed that we should undertake a membership survey every
three years, to gather feedback about the services we currently provide. and seeking
suggestions for improvements.
We undertook such a survey in the last quarter of 2024, with a particular focus on those
members who do not lor no longer) take advantage of the social opportunities that we
offer. We asked questions about:
Members. feelings of loneliness and isolation
Members, participation in and suggestions for our social opportunities
Members, experience of our homecare services
Members. experience of our pastoral care service
Member's use of and knowledge about technologv
The responses will be analysed through 2025, and the results will inform our strategic
discussion5.
Paye 13of33

2. Visitor capocity
A key decision from the strategic discussions in 2023 wa5 to increase our Visltor capacity. to
support an increasing grants workload and rebuild the pastoral care seNice.
An additional, part-time visitor- Cath Collins - was appointed at the end of 2024 and began
work in February 2025.
3. Policies andprocedures
During 2024 we agreed or reviewed the following policies:
Use of volunteers Inewl
Whistleblowing Inewl
Anti-Fraud Inewl
Employee Manual (annual review}
Safeguarding (annual review)
Health & Safety lannual reviewl
We also began a review of our approach to lone working, which will be completed in 2025
and suitable adjustments made to our procedures.
4. Trustee recruitment
Two Trustees- lan Duncan and Adele Morris- stood down as Trustees during 2024, and a
third - Andrew Starte- was due to do so in early 2025.
In the latter half of the year, we assessed the collective skills, knowledge and experience of
the Trustee Board to identify any gaps and inform a trustee recruitment exercise at the end
of the year.
One new Trustee- Lorraine Thomas- was appointed as a Trustee in December 2024, and
two more- Lauren Batstone and Katherine de Kretser- in March 2025.
Flnancial Review
Inc
me and ex
enditure
Unrestricted income during the year amounted to £64,98512023- £88,936). In addition £598
12023- £1,745) of restricted investment income was received. The reduction in unrestricted
income was planned and was the full-year effect of liquidating the investments held by Quilter
Cheviot in 2023.
In addition. £761.230 of Surrey Dispens8ry cash lof which £56,208 was r8Strictedl and
investments of £705,022 as permanent endowment. was transferred into the St George the
Martyr Charity accounts, following the Charity Commission's agreement to link the two
charities. The accounts show the amalgamated results lor both charities for 2024 8nd 2023.
Page 14 of 33

Total expenditure amounted to £395.02412023'. £341.9131. This resulted in an operating deficit of
£329,44112023- £251.2321. As in previous years, the Trustees had planned for the year-end position
to be a deficit, 35 part of its strategy for reduting the very high level of free reseNes that the Charitv
has been holding for many years.
The significantly increased deficit in 2024 was the combined effect of= ailditional grants expenditure,
including £12,656 of Surrey Dispensary grants which are included as a result of the linking of the
tharities,. and additional staff costs following the recruitment of the second Visitor.
Donated income amounted 10 £2.75012023'. £3,2301. This was the Henry Smith Charity Parish Grant
IHSCPGI of £1.850 plus £9Th) received from three individuals including a grateful former grant
recipient that had come into some money. Whilsi the HSCPG income is cate8orised as unrestricted
income it was notionally allocated io grants dispensed by Southwark Day centre for Asylum Seekers
ISDCASI to persons with No Recourse to Public Funds.
Trustee ex
nses
In 2024 no trustees were reimbursed for expenses. However, three sPads with undepreciated value
01 £88 each were gifted to retiring Trustees in line with charity policy. iPads purchased by the charily
are used by trustees in relation to their governance duties for the Charity. The ipads remain the
property of the Charity and are to be returned to the charity on completion of the term of office
of the Trustees. The trustees may purchase the iPad at the end of their term at a fair value to the
Charity or can be gifted subject to the approval of the Board.
Investments and cash
The Charity's permanent endowrnent 15 invested in several common investment funds managed by
M&G Icharifundl. CCLA (COIF Ethical Investment Fund, COIF Investment Fund, COIF Property Fund)
and Savills (Charities Property Fundl. This inclu(les the Suriey Dispensary endowment that was
transferred to St George the Martyr Charity in 2024.
With the exception of the two Property funds, all investments are in accumulation units, as the
Charity does not require the income from the endowment until its resetves have reduced to a
reasonable level.
At the start of the year the value of the endowment was £8,242.529. At 31" December 2024 it was
£8.779,489. After removing the additlon of Surrey Dispensary, the endowment experienced an
increase of 6.6%.
The Charity's accumulated reseNes, which are surplus to the Charity's day-to-day requirements are
helll as a combination of cash, fixed term deposits IFTDS) and investments. The intention has been to
mainlain cash and FTD reserves equal to around two years, gross expenditure, as a hedge against
market volatility. The FTDS are included in the Fixed Assets.. Investments line on the Balance Sheet.
At the start of the year the value of the invested reseNes was £2,039,874, spltt between common
investments funds and Fixed Term Deposits on the Flagstone banking platform. At the year end,
invested reserves amounted to £1,764,582, including £434,452 held in FTDS.
Cash and voucher holdings at the year-end amounted to £227,634.
Page15of33

Reserves
The St George the Martyr Charit(s current Rese￿eS Policy is..
To hold free reseNes equivalent to the level of total expenditure expected over the next two
vear5.
This is on the basis that the Charity is dependent on income derived from the global stock
market, which is unpredictable and can be volatile.
Free reserves are the funds that the Charity has which can be freely spent on any of its
charitable purposes. It excludes restricted income funds, endowment funds. tangible tixed assets
held for the Charitws own use and designated funds (see below).
Amounts that have been set aside for essenb'al future spending are called designated funds.
Designations of reserves must be approved by the Trustee Board and be for a specified purpose
that the Charity has clear plans for expending funds on.
Total unrestricted reseNes at the year-end amounted to £1,969,98112023 £2,205,810). This was a
decrease in reserves of £235,829. At the year.end the Charity had fixed asset5 of £1,750. F￿e
reserves Inet of designated reserves) al the year-end were thus £1.968,23112023 £2.203.1401.
This figure represents over five years of unrestricted expenditure at the level forecasi for 2025. The
Trustee5 have acknowledged that this is significantly higher than the reseNes ceiling in its approved
reserves policy.
At the end of 2020, the Trustees took a decision to fund most of the Charity's operational
expenditure from reserves over the next five to seven years. or until such times as the reseNes are
reduced to two years, average expenditure. In the meantime. it is hoped that the permanent
endowment, having been switched to accumulation units will grow, so that it produces a larger
income in the future.
Plans for 2025
Our priorities for 2025 are as follows..
Buslness as usual
l. Membership
In 2025 we aim to recruit 45 new members. Thi5 15 the same as we recruited in 2019 but
significantly more than we have in any year since. In recent years our Over-55 grant
programme has been the source of up to 50% of new memberships. However, it will not be
sufficient to generate the required numbers in 2025. Therefore, we will work with
Southwark Council to directly contact pensioners within our area of benefit who are likely to
be eligible may not have heard of us before.
We also aim to continue to increase the diversity of new memberships, so they better
reflect the local community of older people. Over the past five years we have been
successful in attractin8 members from new communities, particularly Black African and
Black Caribbean pensioners who made up 44% of new memberships in 2024.
P8ge 18 of 33

However. despite there being a sizeable Latin American community In north Southwark we
have never recruited many pensioners from that community- In 2025 we will build on the
contacts with Latin American organisations that we made in 2024 to find ways to extend the
benefits of the Charity'5 funds to the Latin American community in general.
During 2024 we undertook a membership survey. to gather feedback about the services we
currently provide, and seeking suggestions for improvement5. We will analyse the results of
that suNey in 2025 and, if necessary, supplement the plans laid out in this document.
The Charitvs policy is to undertake financial reassessments of all members every five years,
to ensure that they are still eligible for membership. 73 members are due for reassessment
in 2025. At the time of writing there are a small number due in 2024 which have yet to be
completed; some of these may fall into 2025. This will be a significant challenge, and we will
aim to find ways to streamline the process to minimise the impacts on other Visitor
functions.
In 2024 we started to rebuild the pastoral care service, which had declined significantly in
previous years as the provision of hardship grants increased. We achieved this by increasing
Visitor capacity. Following a temporary setback in the last quarter of 2024, in early 2025 we
will again identify those members who are most in need of pastoral care, set targets for
engagement and monitor their delivery over the remainder of the year.
2. Sociol opportunities
As we have done in previous years, we will provide a social opportunities programme
lincludinE short breaks, day outings, theatre trips and a Winter Party) that can be contained
within the budgets approved by the Trustees Isee Appendix Al. Likely minimum numbers
lincluding staff) are:
Holiday.. 46 places lalready bookedl
Winter Party.. up to 180 places lalready bookedl
Theatre trip5.' 160 places180 already booked)
Day outings: up to 270 places
As we did in 2023 and 2024, we will work with other local organisations to ensure that all
paid-for places are used, particularly with regards the Winter Partv.
Noting that the proportion of our members that take up the social opportunities is reducing,
we consulted with member5 in 2024 to 501icit ideas for additional or future social
opportunities that would appeal to currently inactive members. We will analyse the results
of that part of the member survey in early 2025 and develop additional activities for the
remainder of the year, usin8 the provision that has been built into the budget.
In addition to providing our own social opportunities, we will continue to signpost members
to other organisations that provide social opportunities, whether free or paid-for.
Page 17 of 33

3. Homecare services
In 2025 we will continue to try to recruit an additional home hairdre55er, so we are able to
meet the needs of our increasingly diverse membership. A new lead was developed at the
end of 2024, and we will follow this up in the early part of 2025.
We will rebuild the home nailcare service, that was disrupted at the end of 2024 due to
reasons beyond our control.
4. Individuol grontS
We will continue to increase the number of people we help through our grant schemes.
In 2024 we directly awarded grants to over 100 people.. more than we ever had before and
around 20¥0 more people than we did in 2023. This was a struggle, even with our increased
capacity for part of the year. and it impacted negatively on other Visitor functions. This was
at least partly due to the increased complexity of grant applications we received,
particularly for the Under-55 scheme.
For 2025 we have set a budget which is around £IO,CrfXI, or 17% higher than we will have
spent in 2024. However, this is an estimate, and the actual spend will depend on the
number and size of applications, which is largely beyond our control. A further significant
increase in the number of applications will be difficult to manage, even with more
consistent capacity in 2025. Therefore, we will be reviewing all our grant schemes in early
2025 both to clarify who and what they should be fore, and to identify ways of streamlining
our processes and reducing complexity.
We also aim to develop additional Trusted Third-Party relationships with organisations that
can dispense small grants on the Charity's behalf to individuals that we would not be able to
reach directly. Our particular focus will be organisations that support people f rom the Latin
American community, building on links we have made in 2024.
Collaboratin
with others
We will develop additional Trusted Third-Party relationships that will enable us to extend
the benefits of the Charity's funds to population groups we would not be able to reach
directly.
We will support the development of the Southwark Individual Givers Network ISIGNI, which
we initiated at the end of 2024. The aim of SIGN is to promote collaboration between
organisations that give to individuals that live in Southwark, so that more people are helped,
it is easier for people in need to find organisations that can help them, and best practice is
shared.
lrn
rovln
theo
anisation
In developlng this plan, it became clear that we need to start planning for the organisation
Pa9e180f33

we will be once our excess unrestricted reserves have been exhausted. This could be as
soon as 2028. Our forecast future income will not be sufficient to support, say, 50% more
members than we currently have and have a large individual grant scheme. We need to
make some decisions on what the balance should be and plan accordingly. So, we will carry
out another strategic review in early 2025.
At the time of writing, we are actively recruiting to up to four vacant Trustee places. A key
priority in 2025 will be inducting new Trustees, as well as continuing to publicise and
remaining vacancies.
We will review the following organisational policies..
Investments and tash management
Health & Safety
SafeBuardin8
GDPR/Data Protertion
As part of the review of the Health & Safety Policy we will:
review our approach to lone worklng and make any necessary adjustments to our working
practices
introduce systematic risk assessments for Charity holidays and trips
As part of the review of the GDPR/Data Protection Policy we will..
complete the digitisation of member data held on paper documents (bank mandates,
application forms, GDPR consent forms)
review our data 5eturity arrangements and implement any improvements required, for
example in respect of backing-up Cloud-based data.
Risk Management
The main intrinsic risks that the Charity is exposed to. due to the nature of its activity and
income source, are in respect of:
The health and safety of members, their carerslcompanions and the Charity's
staff/volunteers/homecare providers during Charity trips and holidays and in respect of
home visits
The high level of reliance on a very small number of paid employees. This risk will
increase with the reduction in the Clerk's contractual hours from three to two days a
week from January 2025.
Volatile markets adversely affecting the yield and future value of investments.
The additional risks related to the achievement of the priorities and actions listed in this
Plan are..
Page 19 of33

Business-
The Vlsitors become oveNhelmed with grant applications, reducing their
capacity for other Vi51tor functions
Demand for trips and holidays 15 greater than the number of places we can
provide. within budget and organisational capacity.
Ilaboratin
with other5
o Failure of Trusted Third-Party arrangements
Im
rovin
theo
anisation
o Loss or unlawful sharing of key data
The Trustees have approved a Risk Regisler, which includes an assessment of the probability and
impacts of the above risks. Any specific actions required to manage or mitigate them are included in
the priorities above.
Trustees, responsibilities
The trustees are responsible for preparing the Trustees, Annual Report and the financial statements
in accordance with applicable law and United Kingdom Accounting Standards Iunited Kingdom
Generally Accepted Accounting Practicel.
The law applicable to charities in England & Wales require5 the trustees to p￿pare financial
statements for each financial year which give a true and fair view of the State of affairs of the charity
and of Its incoming resources and application of resources of the charity for that period.
In preparing these financial statements, the trustees are required to:
select suitable accounting pollcies and then app￿ them consistentlv.
obseNe the methods and principles in the Ch3rities SORP 2019 IFRS1021.
make judgements and estimates that are rea50r)able and prvdent.
state whether applicable UK Accounting Standards have been followed, subject to any material
departures disclosed and explained in the financial statements.
prepare the financial statements on the going toncern basis unless it is inappropriate to
presume that the charity will continue in operation
The trltstees are responsible for keeping adequate accounting records th8t disclose with reasonable
accuracy at any time ihe financial position of the charity and enable them to ensure that the
financial statements comply with the Charitie5 Act 2011 and the provisions of the trust deed. Thev
are also responsible for safeguarding the assets of the charitable company and hence for taking
reasonable steps for the prevention and detection of fraud and other irregularitie5.
In so far a5 the trustees a￿ awa￿..
there is no ￿levant information of which the charitvs auditor is unaware- and
Page 20 0133

the trustees have taken èll steps that they oughi to have taken to make themselves aware of any
relevant audit information and to establlsh that the audltor Is aware of that information.
On behalf of the board
Rebekah Bostan
Chair of the Board of Trustees
Date.. 25th June 2025
P48 210133

Independent Auditor's Report to the Trustees of St George
The Martyr Charity
Oplnlon
We have audrted the finan¢ial $tatements of Sl George The Martyr Charity Ithe 'charty'l for the year
ended 31 December 2024 which comprise the Statement of Financial Activities, the Balance Sheet
and notes to the financial statement5, including signrficanl accounting policies. The financial reporting
framework that has been applied in their preparation is applicable18w and United Kingdom
Accountsng Standards. including Financia5 Reporb'ng Stsndard 102 The Financial Reporting Standard
applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting
Praclicel.
In our opinion the finan¢i81 st8temenls'.
give a true and fair view of the slate of the ¢harty'$ affairs as at 31 December 2024. 8nd of its
incoming resources and application of resources, including ils income and expenditure, for the year
then ended..
have been properly prepared in accordance with United Kingdom Generally Accepted
Accounting Pracli¢e", and
have been prepared in accordan￿ wth the requirements of the Charib'es Act 2011.
Basis for opinion
We conducted our audit in accordance wilh Inlernalioii81 Standards on Auditing IUKI IISAS IUKII and
applicable law. Our responsibilities under those standards are lurther des¢ribe(l in the Auditor's
responsibilities for the audit ol the financial statements section of Ouf report. We are independent of
the charity in accordanee wlh the ethical requirements that are relevant lo our audit ol the financial
slalemenls in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical
respDnsibilities in accordance with these requirements. We believe that the audit evidence we have
obtained is sufficient and appropriate lo provide a basis for our opinion.
Conclusions relating to golng ¢on¢ern
In audrting the financial slalements. we have concluded that the trustees. use of the going concem
basis of accounting in the preparation of the financial statements is appropriate.
Based on Ihe work we have performed. we have not identified any malerial uncertainties relating lo
events or conditions that. individually or collectively, may cast significant doubt on the charity's ability
lo continue as a going ¢on¢em for a period of at least twelve months from uthen the financial
stslemenls are aulhorised for issue.
Qur responsibilities and the responsibilities of the trustees wth respect to going concem are
described in the Televant sections of this report.
Oth•r information
The other infom81ion comprises the information included in the trustees annu81 report. other than the
financial stslements and our audrtor's report thereon. The Iruslees are responsible for the other
information ¢ontained within the annual report. Our opinion on the financial statements does not cover
the other informats'on and, except to the exlenl otherwise explicitly stated in our report, we do not
express any fomi of a$suran¢e conclusion Ihereon.
Our responsibility is to read the other infonnation and. in doing so, consider whether the other
information is materially inconsislenl wth the financial slalemenls or our knowledge obtained in the
course of the audit or olherwse 8ppe8rs lo be materially misstated. If we identify such material
inconsislencies or apparer)t material misstatements, we are required lo determine whether this give5
rise lo a malefial misstatement in the financi81 statements themselves. If, based on the work we have
perfomied, we conclude that Ihere is a materi81 misststement of this other informats'on, we are
reqUI￿d to report that fact.
Paye 22 Trf 33

We have nothing lo report in this regard.
Mattors on which w• ar• r•quir•d to roport by excoptlon
We have nothing lo report in respect of the followin9 matters in relation to which Ihe Charities
IAccounls and Reports) Regulalions 20Q8 require us lo report lo you if, in our opinion..
the informalion given in the financial slalements is inconsistent in any material respect with
the twslees, report". or
the charity ha5 not kept adequate accounting records., or
the financial statements are not in agreement with the accounting re￿r￿S and relums.. or
we have not received all the infomation and expl8n8tions we requi￿ for our audit.
ResponslbllltS•8 of trn8t•è8
A5 explained r￿re fulty in the trustees, r95pon5ibilitios statement. the trustees are responsib￿ for the
preparation of the financial stslemenls and for being satisfied that they give 8 true and fair view, and
for such intemal control as the Iruslees determine is necessary to enable the preparatson of finarrial
statements that are f￿e from material misst8temenl. whether due lo fraud or e￿Or.
In preparing the financial slatemenls, the Iruslees are responsible for assessing the charty's ability lo
continue as a going concern, disclosin9, as applicable, matters related to going concem and using the
90ing concem basis of accounting unless the Iruslees either intend to liquidate the charity or lo cease
operations, or have no realistic allemative bul to do so.
Audltovs responslbllltles lor the audlt of the fln•n¢lal statements
We have been appointed as auditor under section 144 of the Charities Act 2011 and report in
a￿)rdance wth regulations made under section 154 of that Act.
Our obje¢tiVgs are to obtain reasonable assurance about whether the financial statements as a whole
are free from material misststemenl, whether due lo fraud or efror, and lo issue an audrtorfs report
th81 includes our opinion. Reasonable assuranee is a high level of assuran￿, but is not a guarantee
that an audit conducted in accordance with ISAS IUKI will always delecl a material misst81emenl
when it exists. Misstatements can arise from fraud or error and are considered material il, individually
or in the aggregate. they could reasonably be expected to infiuence the economic decisions of users
taken on the basis of these financial slalemenls.
Irregularities. includin9 fraud, are instances ol non-compliance with laws and regulations. We design
procedures in line with our responsibilities, outlined above. to detect material misstalemenls in
respect of irregularilies, including fraud. The specific procedures for this enga9ement and the extent
lo which these are capable of detecknng irregularilies, including fraud is detsiled below.
Erwuiry of management and those Charged with governance around actual and potential
litigation and Claims as well as actu81, suspected and alleged fraud,.
Reviewing minutes of meetings of those Charged with governance..
Assessing the exlenl of cornpliance with the laws and regulations considered to have a direct
material effect on the financial statements or the operations of the company through enquiry and
inspection.,
Reviewing financial statement disclosures and testing to supporting documentation to assess
compliance with applicable laws and regulats'ons.,
Performing audit work over the risk of management bias and override of controls, including
testsng of joumal entries and other adjuslmenls for appropriateness, evaluating the business rationale
of signbficanl transactions outside the normal course of business and reviewing accounting eslimales
for indi¢alors of potential bias.
Because of the inheTenl limitations of an audit, there is a risk that we wll not delecl all irregularities,
including those leading lo a material misstalement in the financial statements or rK)n-compliance wth
regulation. This risk increases the more that ¢omplian¢e with a law or regulation is removed from the
events and transactions reflected in the financial statements. as we wll be less likely to become
aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due
Page 23 of 33

to fraud rather than error. as fraud involves intentional GonGealmenl. forg¢ry, ¢ollusion, omSsslon or
misrepresentstion.
A further description of our responsibilities is available on th& Financial Reporting Council's web$it¢
at.. httpS..l￿.fre.or9.ukJour-WOrklAUditlAydlt-0nd-8S$ul8neeIStandard5-and-gU1danCe/StsndaTds-
and*uidance-for-auditorslAudilors-respon$ibililies-for-auditlDescription-of-auditors-responslbililies-
for•audil.aspx. Thi8 description forms part of our •uditor'$ report.
Usg of our r•port
This report is made 501ety to the chanty's Iruslees, as a body, in accordance with Part 4 of the
Charities IAccounls and Reports) Regulations 2008. Our audit work has been undertaken so that we
might state to the charty's Iruslees those matters we are required lo slate lo them in an audilorfs
rewrt and for no other purpose. To the fullesl extenl permill8d by law, wo do not accept or assume
re¥pgn$ibilily to anyone other than the charity and the charty's Iru$l*•s a$ a body. for our audit wa￿,
for this report. or for the opinions we have formed.
John Howard FCA
A2ets Audit Services
Stslulory Auditors, Chartered A¢countants
2nd Fl¢)or, Re9is House
4S King William Street
London
EC4R 9AN
Date: i>F
3oxr
Azets Audit Servicè5 is eligible to act as an aLKlltor in tems of section 1212 of the Companies Act
2006.
Page 24 of 33

Statement ol Flnanclal Artlvftles
Sl GÉorg• Iho M•rtyi C￿rity
Forlhe yearended 31 Decernber 2024
Fundi(£l
Vundi<L)
2.75)
Sg.276
4.$57
3.1*
7>.839
*$17
136
97.674
è1.6Q4
5,è17
ow
Tot
1.745
FLr
429
1.939
3.1¥4
3.131
12tsS6
12hS1
T¢W
341J13
111051
1146x1
IlJ7J
81.
$5S.960
619.Qlg
1)
180,791
411.142
71.¥T
è.243 519
10.¥19.F
7.%91.738
Tho Sl•temorfof Fin8n¢K81 bi*typrothxqd on IhD bam allacb¥dlDs we CODbThJkn9.
T￿r*Or@ no r8co9n42gd 9aIn$or￿$$e$Ot￿rth¥Th thwe pJ844ng I￿￿u￿h ihe StatsmeDt of F￿an￿￿1Ac1￿It￿l.
￿1$$0￿ p898¥ 26 w 32 ftym pirttsfth0￿ f¥wrckil style￿nIs.
P¥Bvl¥pf3J

Balance Sheet
For the year ended 31 December 2024
31
Doe•mber
20241
Totsl Funds
31
DKgmb•r
Notes
20231£)
Tatsi Fund$
Balance Sheet
Fixed Assets
Tangible assets
Investments
Totsl Flxed As9ets:
Current a8sÈts.'
Deblors
Cash at bank and in hand
Totsl Current as￿>..
11
16
1.750
10555,114
2.670
10,292,91
10
17
39.155
227.634
70,122
191.600
Creditors Amounts falling due within
one
ear
Total Llabllhlès
18
14.345
37.603
Not current asxts
224 119
Totsi as8&ts1888 current Ilablllt
10 519 700
Totsi Net Asstrts
Furbds ol the charity
Endowffleni funds
Restricied inmme fur￿$
Unresiricled funds
Totsl Chari
Fundi
10
300
10 519 700
20
20
20
8.779.489
59,838
1.969,981
6,242,529
71,361
2.205,810
10 519 700
The notes on pages 26 to 32 form part of these financial stslements.
Approved and signed on behalf of the Trustees on 2Sth June 2025
Rebekah 8oslan
Chair
Paye 26 of33

Notes to the Financial Statements
For the year ended 31 December 2024
Accounting Polici
Basls of preparatlon of the accounts
The financial statements have been under the histori￿1 cost convention, as modified by the inclusion
of Investments at market value, and in accordance wlh the Slalement of Recommended Practice.-
Accounting and Reporting by Charities preparing their accounts in accordance with the Financial
Reporting Sland8rd applicable in the UK and Republic of Ireland IFRS 1021 leffecb've 1 January
20151- Icharilies SORP IFRS 10211. the Update Bulletin amending the Charities SORP IFRS 1021
and the Charitses Act 2011.
The Charity constitutes o public benefit entity 8s defined by FRS 102.
The financi81 slalemenls are prepared in sterling which 15 the functional currency of the charity.
Preparation of the accounts on a going concem b8SIS
The Tfuslees consider tha there are no material uncertainties about the Charity's abilrty to continue
as a going concem. The most significant a￿a$ of un¢ert8inty that affect the carying value ol assets
held by the Charity are the level of investment return and the performance of investment markets.
Income recognitson
All income is recognised once the Charity has enlillemenl lo the income. il is probable that the income
will be received, and the amount of income receiv8ble can be measured reliably.
Investment Income
Income from investments is induded in the Stalemenl of Financial Activities when il is eamed. This is
when the Charity becomes entitled lo the resource.
Expenditure recognition
Liabilities a￿ recognised as expenditure as soon as there is a legal or constwctive obligation
commith'ng the charity lo that expenditure.
All expenditure is accounled for on an accruals basis and has been classified under headings that
aggregate all costs relaled lo the category. Expenditure involving more than one category has been
apportioned by the Trustees on a reasonable, juslifi8ble and consislenl basis, involving estimating
proportions of time spent.
DisC￿tiOnary ch8nlable payments are recognised in full al the point of payment.
Grants payable are payments made to third parties in the furtherance of the ch8rit8ble objects of the
Trust. These include grants awarded to individuals and those awarded to organisations. The grants
are accounted for where either the Truslees have agreed to pay the grant wilhoul condition, the
amount of the grant can be measured reliably, the recipient has a ￿3$Onable expeclats.on that they
will receive a grant, or any condition altaching lo the grant is outside the control ol the Trust.
Funds
The Charity has three funds.. permanent endowment- restricted and unreslricled flfnds. The purposes
ol the restricted fund5 are covered in more detail in note 19. The unrestricted fund represents the
balance of unexpended income and is available for charitable objects, subject lo the working
requirement5 of the charity.
Page 27 of 33

Fixed Assets and D•prKlatlon
All tsngible fixed 85sets are slated at cost less depreaalion.
Depreciation has been Provided al the following rBles in ordef lo write off the assets Iless Ihwr
eslimaled residual value) over their estimated useful economic lives.
Ipads
Other IT
Office Equipment
20010 Straight Line
33.30k slraighl lin&
25Vo Straohl line
IAI the start of 2021 the office eqLFipment category contsined 2 laptops with a NBV of £1,257. Thes
assets have been transferred to the Computer Equipment category bul wll continue to be depreryaled
8t 250/0 straight line per annum.
Flxèd ass•t Inv•stm•nts
Investments are a form of basic financial instrument and are initi811y recognised al their transaction
value 8nd subsequendy m8asured al their fair value as al the balance sheet dale using the closing
market price. The Statement of Financial Activities indudes the net gains and losses arising on
revaluation and disposals throughout the year.
The Charity does not acquire pul options. deriv8tives or other complex financial instruments.
Debtors
Debtors are recognised at the settlement amount due.
Cash at bank and In hand
Cash al bank and cash in h8nd includes c8sh and short lenTr highly liquid investmerts with a short
maturity of three months or less from the date of acquisition or opening of the deposit or similar
account.
Credltors
Creditors are recognised where the charity has a present obligation ￿$￿Iling from a past event that
ill probably result in the transfer of funds to a Ihird party and the amount due to settle Ihe obligation
can be measured or estimated r81iably.
Reall$ed galn$ and lossos
All g8ins and losses are tsken to the Statement of Financial Activities as they arise. Realised gains
and losses on investments are calculated as the difference befvleen sales proceeds and their opening
carrying value or their puich8se value if acquired subsequent to the first day of the financial year.
Unrealisgd gains and losses are calculated 8s the difference between the fair value at the year-end
and their carying value. Realised and un￿allS8d inveslmenl gains and losses are Combined in the
Statement of Financial Acbvities.
Penslons
Employees ol the charity are entitled lo join a defined contribution 'money purchase, scheme. The
charity contribution is reslricled to the contributions disdosed in note 8. There were no outstanding
contributions at the year end.
Paye 28 of 33

Llnrostrl¢t￿ Funds
Restrlcted
Fund$
Perma￿￿
Fynd$
Total Funds
Tol•l Funds
2023
2. Income and Don8tlon8 from L
LI)nat￿n$
Total lfi¢ome and DDnations from
Legaclo5
2.750
2.7SO
3,230
3.230
2.750
2,750
Llnro5trl¢t￿ Fund8
Re￿rIcE•￿
Fund•
P•rmanen¢
Funds
Total Fynds
2024
TOW Fundg
2023
3. In¢om• from Inv•sbMnts
vidends
TeTm DepDSit and Bank Inleresl
Totsl Incom• from Inv•¥lments
39.074
18.604
57,678
39,074
19,202
$8276
63.648
17.956
81,604
Uhr¢stricW Funds
Restricted
Fur
Pormenent
Funds
Totsl Ftsnds
2024
T•tsi Funds
4. Ot￿r Ihc+Jm•
olher opeRiin9 incom?
Tothi 01￿￿ Inc•mÈ
4,557
4.557
5.847
5.847
4,557
4.SS7
Unre$trlct•d Funds
pèrma￿￿1
FLrnds
Total Fynds
2024
Totsl Fund8
2023
Funds
5.Ex
end6ture on Rabsln
Inv&simeni Manapmeni Fee
Total Expenditurg on Ral¥lng Funds
429
429
429
3,134
3.134
Unr•strlct•d Funds
R88trS¢t8d
Funds
Pemmnènt
Total Funds
2024
Total Funds
2023
ChDTitable Activitks
Charltable Acti￿11•8
Grants lo Inth'vKlua15 olher
organisalions
Grants lo Indivwjuals
Discretionary Charftab￿ Payments
Christmas Glfts. Christmas Part*s &
Sl George's Doy Grants
PensKJnw Trips aThY Oubngs
PensK>ner Holiday Costs
Personal Care 58ThKes
charitab￿ Acipiil*S Staff Costs IsÈe
note 91
&Jppori Costs
Totsl Expondgd on ¢fvorh¥blg Adl¥hl•s
4.075
4.075
1,471
43.968
52.890
12,483
56,451
53,8
52,972
54.570
31.162
31.162
17.465
24.578
12.451
27.105
17.465
24.578
12.451
17.045
25.276
11.398
88.090
63.072
1[￿.260
381.939
173
12,856
1￿,433
394,595
85.810
338.779
Unrestrlcted Funds
Re￿¢t•d
Funds
Parmanènt
Funds
Total Funds
2024
Totsl Funds
2023
7.su
Costs
Office Rental
Administrabve Staff Costs (see no
19,282
19.282
18.317
91
61,722
61.722
43.339
Other Exp￿se$
Deweua*"on and h)ss en dl8posal ol
assets
A¢rx>uniancy
Govetnanrk Costs lsge nole 81
Tolal Expende¢ on Ch•ril•ble Actlvltl8S
9,490
173
9.663
1.508
9.504
1.508
1.628
3,396
9,686
85.B70
3,450
10.808
106,260
3.450
10.808
106.433
173
Page 29 of 33

Unr¢strlctod
Restri¢tsd
Fund8
Pemianent
Fund8
Tot•1 Fund5
2024
Total Funds
2023
. Govefnan¢• Costs
Board meeting ¢OSts
SlakehDldeT Event
Audilors RWnUnets￿0n
Trustee Training
Tothi Governat)co ￿$ts
1.269
1.169
7.2CiI
1.170
10.808
1.269
1.169
7,200
1.170
10,808
1,177
529
Unrestricied Funds
R•8trfj¢tsd
Fuhd•
Tol•l Funds
2024
Total Fund8
2023
Fund8
9. Stsff Costs
Wages and Salarbs
So(ial Security Costs
Pensk?n Costs-defined conlribuli
Staff ProfeS￿o￿al expenses and
training
Total Staff costs
128.720
8.896
9.1L
128.720
8.896
9.106
92.471
5.466
6.579
3.090
3,090
1,173
149.812
149,812
105,689
The Ch￿ Con￿derS its key marHgemeni persMno1 to (xJmptls& the Trustees c￿rk The ￿tal employm￿1 bewf5ts of key
m8n4emenl £62.571 12023.. £*,1761
Numbers ofern ￿0yeeS
2024
2￿23
Engaged on Charitab￿ act￿￿11e9
Engaged in rnanagemenl and administralvJn
Totsi
No employees reteived remuneraiJ)n of more than £eo.r¥]012023.' none).
Retirement benefits a￿ accruing for 3 members ofstaff ￿der8 money wrthase xheme12023". 21
10. Tru￿8¢ Expvn$o5
In 2024 and 2023 rK¢trusiees were reimbur￿ foi expens￿. fxJrin9 2024. 3 iPad$ vlth Utthprec4￿ed value of £88 ea(l) were gifted lo
retiring Truslees in line wilh charity pdicy. iPad$ purchased by thecharily are used by trustees in felalioTr lo Iheirgoverfiance dulpes for
Ihe Charity The ipads remain the propwty of the Charity and are lo be relumed le the Charity on COM￿l￿n of the temi of¢ffi¢e ofthe
Trusiees The trustses may wrchase the IPad ai thè en(1 of thdr18rm al a fair value lo Ihe Charity or (xn be ￿fted 10 Trustees.
11. Tahglble Flxed A88•ts
ompul•r
Equlpment
Totsi
Equlpment
Cost
Cosl 1° ja￿ary 2024
Acqu￿rtIOnS
775
219
6,510
369
19871
5.892
7.285
588
19871
6.886
Cosi 31 D•cembef 2024
reclp¢lon
Deprecjavon 1¥ J￿Uary 2024
Renh)ved on dSsposal
Charye for ihe ya
Dopr•¢latlon 31 Dtt•mbor 2024
15771
14.0381
723
11.0641
14,3791
14.6151
723
11.2441
15,1361
175n
Net Book Value
At 31 Decernber 2024
Al 31 Decernber 2023
237
1.513
2.472
1.750
2.670
P*Je 30 of 33

12. Flnanclal Instruments
The S￿n1￿c￿nce of fina￿￿81 instruments io the orwj(￿n9 than(xal sustsinability of charty is Cons￿ered In the invéstment tK)h'cy
nd risk management sections of the T￿lee.5 Report.
The Ch*ity owns onty basi¢ finarKial instrunTrents.
Finartol Assets- Cash at bank in hand- measured al value of cash hdd.
20241£)
227.633
20231£)
191.600
Finartol L&8txlities- measured al settiefflenl amrrtjnt after any trade discounts.
20241£)
75
20231£)
25.502
The SignlfKan￿ ol f￿￿Cial instruments lo the ongoing finar￿al sustainabmliy of ihe Charfty (s consid*d in investment polcy
and r￿k rnanagem8nt secbons cl the Trusiees RewJrt.
Market Valuè
31 Dec 2024
Funds
ma￿¢1 V•luo 31 Cost 31 DÈC
Dae 2023 Furtd¥
2023 Funds
C￿1 31 Dec
2024 Funds 1£>
13. Fix•d A¥sets Invutments
Poimaneni Endo*m•nt
Fenner & Martin Bible Fund- COIF laccvmulatson
19,528
16.939
18,583
16.939
DeLiforce Educalwol Fwndalion- COIF
laccUmul¥l￿n unil$l
st George the Martyr United FurvJ- Charifund
laccumulalion unilsl
St George the mar￿ Vnlled FuThY- Ethical Investme
FuTrJ laecumuL8tion unitsl
st George th& Martyr Uniied FuThl- COIF Prtyerty
FuTr4 lincorne ynits)
St George the Maty Unlled Fund- Savills fvok*rty
FuThJ lin¢ome units)
Surrey tlispensary Fund- COIF larcumuL4tson uni¢51
Totthl PermonoTh1 EndowmoTht
Rèstrieitd Funds
De53force Edurational Foundation lac¢AJmu1alion units)
Totsl R*strldod Funds
Unre8trlcted Funds
St Geero& the Martyr Unrted FuThJ- EthirA Inve*ment
FUTKJ la(Lumulation units)
Totsl Llnr¢$tricted Funds
Totsl Flxod AsSOt 1￿￿$￿￿¢nts
9.059
5.987
8,620
5.987
3.669,333
3.326.138
3.366.Q95
3.326.138
3.576,377
3.131.445
3.383,848
3.131.L145
314,233
288.856
312.735
288,856
450,854
395.000
448,397
395.000
740,075
8.779.489
705.022
7.169.387
704,251
0.242.$29
627.605
7.791,970
11.043
7,299
10,508
10.508
1,330.130
1,180,769
1 180 769
9 057 4SS
1,$28,578
1 528.S76
9n1613
1.434.135
1.434 135
9 233 404
10 120 662
Unrostrlcto
Fund8
Rostyi¢t•d
Funds
P•rnian•nt 31 O•t 2Q24 31 Dec 2023
Endowmènt
14. Movement In Flx•d Ai8•t Inv•stmÈnts
Brou9hl forward ai 1 JanLgry
Addilior
C4sryJ5al Pr(wds
Realised gain
Unrealised gain
Markrfvalue at 31 D•comb•r
1.528,576
10.508
8,242.529
9.781.613
9,352.966
591,047
1874.8741
3,195
709,279
9,781,613
1280,0(M)I
9,949
71.605
1,330,130
1280.fM)01
9.949
609.1
10.120.662
535
11,043
536,960
.779A89
PermanÈni endofft)effl of£7Q5,022 wa$ inirrK1u¢ed in 2024 a5 a resutt of the lin￿￿9 of t1￿ Suryey Dispertsary Charty.
Unrostrlctsd
Fun¥5
R•stricted
Funds
P¢rmftnMt 31 Oec 2024 31 D•e 2023
Endownert
15. Fixed A¥¥et Inve¥tment¥-Terni De
Terffl DepDsts
Total Twffl Deposlts
434.452
4￿,45?
434.452
434.452
511,298
511.298
Unro5tri¢ted
Funds
Ro8trlcted
Fundts
Pemianehi 31 D•c 2024 31 Oec 2023
Endowmtnt
lffj. Flxed Asset In￿$tr￿8￿￿
Investments
Ttrm Deposits
Total Fixèd Asset Inv￿lmOnt$
1.330.130
434,452
1.764.582
11,043
8,779.489
10,120.862
434.452
10,555.114
9,781,613
511.298
10292.911
11.Q43
8,779,489
Page 31 of 33

UnrtStrlct•d R•8tr1¢tod
FiJnd$
Funds
P•rmpnwt
Endo*Thont
31 D•c
2024
31 Doc
2023
17. Dobtors
epayments
AccrJed Income
Other Debiors
Totsl Dgbtor5
24.817
11.192
3.146
39,15)
24.817
11.192
3.146
39.15$
48,137
21.493
2,492
70.122
Unrestrlctod
Funds
R•strlcted
Funds
Permment
Endo*inont
31 Oe¢
2024
31 Dec
2023
11. Credit•fS
Accounts payable
Accrua15
Credil card
Invesimeni manager fe85
Total CrÈdiior8
11.672
75
2.598
11.672
75
2.598
25.502
9,628
485
37,803
14,345
14.34$
UnMstrid•d
Funds
A￿trIct•d
Funds
Pernwn¢nt
Endovnnorrt
31 D•¢
2024
31 D•c
2023
19. Fund5
Brought forward at l Janugry
Curr&ni Year Earrwngs
At 31 December
2.205.610
1235.8291
1,969,981
71.361
8.242,529 10.519.7W 10.058.458
536.960
289,608
461,242
8,779.489 10.809.308 10,519,700
Rostrl¢t¢d Fund
The Charbiy has 3 resthcw funds.
Fonn8r and M¥rlln Blblth Fund
FDr Ihe purchase of foi dislribuliw lo poor youny p&ts¢n8 re8ldenl ln the area of benefit. Preferen￿ shall bE gwen ￿ Qualthed
person5 re￿dent ￿ Ihe aréa ofthe fom8r partsh ol St. Ge(rye Ihe Martyr.
D•lalor¢o Eduutyonal Foundjt
For the payment of rent maintenan* improvement of Ihe pre￿￿seS of St G8tyge the Myrtyr Wi0Tr81 SGhLK)b. Any rg*duè ¢1
income to be applied by Ihe Trustses in such manner 85 they think fiL
Surrty Oispenwy Fund
SuNey Dispensary was founded in 177710 admlnister advre and rnedieAne lo th& poorln Ihe Tr)rth ofwhal 15 now the London Borough
of Soulhwark The Surrey Dispensary chaiity (registered charity numtsr 208732-21 wa5 linked lo St Ge￿9t the Martyr Charfty during
the year. As a result. reslrKled cash of £56,208 and penn8r*nl endovm)enl Inveslrnents 01£705.022 weie Intr(KJU￿d 10 It* tharity.
r8Slrfcted funds have inveslmwl assets Wblhin thè pemianeni or￿￿M￿nI IN41 produr* restrthd iWA)me within th& restrict￿ lund.
UThrestrlct0d
Funds
is *)1 tssets and Ilabllftl88 re
1,750
1.764,582
116.839
39,155
114.3451
1,969,981
R¢slrltiod
Permanent
Efidowm•nt
r89811tln
th* fvnd$
31 Dec
2024
)1 Dec
2023
20. Particularn of Ind1vl￿al funds and on
Tan9iNe fixed assets
Investsnenls
Cash and short-term dews
Deb￿r$
Credilcrfs
Fund6 at 31 Decembor
1,750
2.670
8.779.489 10,555.114
10.292.911
227.634
191.6(K)
39.155
70.1T2
114.3451
137.6031
8,779,489 10.809,308 10,519,700
11,043
48,795
59.038
Suff•y Dlsporisary
F•nngr & Martin
Restrithd Funds
21. Restriew Funds
Al 1 January 2024
In￿rne
Ex￿nditUre
Investment gains
Al 31 Dvcember 2024
56,210
598
112.5201
1,916
13.175
71.361
1681
1881
535
13,642
112.6561
5J5
59.83B
44.288
Surr•y Dlspen¥ary
Fènnw & Martln
Dolaforce
Re¥tricted Funds
rè8Ok)ted b
Fixed assèt investrnen
Cash
Totsl Fund5
11.043
2,599
13.642
11.043
48.795
59A38
44,288
44.288
1.908
1,908
Page 32 0133

Surr•y Dlw•nwy
F•nMr &M•rt
O•loforc•
Totsl r•Jtrl¢t•l
Fund¥
22. Com
ra￿¥• R•strkthd Fur*ls
Al l January 2023
Income
Expendjture
Investment ialns
At 31 D0￿mb•r 2023
71,056
1.381
116,2271
2.037
11,727
353
1721
1.167
11175
1.745
116,3711
1.167
71,361
1721
56310
1.976
Surr•y Dlw•nMry
F•nn•r & Martln
D•l*f0rc•
Tot•1 vqstrlct•d
Funds
rts¢nted
FvKed asset inv8strnents
D•b¢or$
Cash
Cr8dltor8
Tot•1 Funds
10.5Q8
10.508
773
60.565
14851
71.361
773
55.922
14851
56210
1.976
2.667
1.976
13.176
23. R•lat•d Pa
Tr•nM¢tlon•
In2024 Ihree r•tiring trustee8weregifted Ihe iP•d FYwbJu5tyused forTrustmeelngs. Th¢ und*preck*ied valueofihe IPads inth•aGEounts
at Ihe of grflirrtj was É263. In 2023 ietirirfj Iru51w ￿re gi¥•n gfft vouchern lothe val￿ of £120 B5 a r8iirfrYJ gift.
In 2024 Ih¥e w•r• nother rela￿￿ pa￿t￿sacrI)n$l?Q23. none).
rail l••*• commltrrw•nts
At 310K•mbw 2024. tho Charfly had outsiarttling ¢ommitmenl8 foFftrtura minlmum base payments whlth fall due as falbws..
2024 IQ
19,963
59,B
20231£)
19.269
77.075
Within on¢ y•ar
8etsYeon tsvo and five year8
In over ffve years
25. Su
Dl¥
In May 2024 Surrty ￿SpenS￿ry thartty Iretyslered charity numb¢r 206732-21 was Ilnked ￿ St Getrge the Martyr Charfty. Surroy
S￿nsaryWJ$f0U￿ded In 177710•Jmln*i•r•thi¢•andrnqdldnetothepoN Sn thonortholwh•ii$ th• London Bewh ofsoufvth.
As a re5ultof the knklng of thethartt*$ Ihe Wlowlry Suryey txspensary Funds Inir¢dut*d gl )* Jan 2024.
Perma￿￿ EndOw￿ent £70S.022
Resiricied Furds £55.435
Page 33 of 33