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2025-12-31-accounts

ST GEORGE THE MARTYR CHARITY Registered Charity Number: 208732

TRUSTEES’ ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDING 31 DECEMBER 2025

ST GEORGE THE MARTYR CHARITY

TRUSTEES’ ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDING 31 DECEMBER 2025

Contents

Charity Information ....................................................................................................... 3 Chair’s Introduction ...................................................................................................... 4 Report of the Trustees .................................................................................................. 5 Independent Auditor’s Report to the Trustees of St George The Martyr Charity .. 22 Statement of Financial Activities ............................................................................... 26 Balance Sheet .............................................................................................................. 27 Notes to the Financial Statements ............................................................................. 29

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Charity Information St George the Martyr Charity

Registered Charity Number: 208732

Trustees

Lauren Batstone (Appointed 12[th] March 2025) Fr Benjamin Bell Rebekah Bostan, Chair Patrick Crockford Katherine de Kretser (Appointed 12[th] March 2025) Amir Eden (Resigned February 2025) Julie Fox Clive Greenwood (Appointed 25[th] June 2025) Katherine Hang (Appointed 25[th] June 2025) Sarah Harris Lilian Latinwo-Olajide Alderman Tim McNally (Resigned December 2025) Andrew Starte (Retired March 2025) Lorraine Thomas Lorraine Zuleta

Accountant

Karon Cook M.A. FCA, Infinity Accountants Ltd

Staff

Andrew Murphy, Clerk Philippa Van Os, Visitor Catherine Collins, Visitor

Address

Marshall House 66 Newcomen Street London SE1 1YT

Bankers

Unity Trust Bank Customer Services Centre Nine Brindley Place Birmingham B1 2HB

Barclays Bank UK plc 1 Churchill Place London E14 5HP

Independent Auditors

UHY Hacker Young Thames House, Roman Square Sittingbourne Kent ME10 4BJ

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ST GEORGE THE MARTYR CHARITY Registered Charity Number: 208732

Chair’s Introduction

Reflecting on 2025, I am proud of how St George the Martyr Charity (SGMC) has sharpened its focus on our core mission: the prevention and alleviation of poverty , the reduction of loneliness , and the improvement of health and wellbeing . This year, we undertook a vital review of our Charity Scheme, modernising our 50-year-old governance structure and aligning our membership criteria with our grant-making requirements. These changes ensure that our historic endowment remains a targeted lifeline for those in the greatest need, while also allowing our "charity family" to grow more diverse and inclusive than ever before.

This has also been a year of significant transition for our Board. We bid a fond farewell to three trustees: former Chair Tim McNally, Amir Eden and Andrew Starte, and late trustee Ken Hayes, whose legacies of service provided the foundation for our current stability. To further strengthen our oversight, we have appointed four talented new trustees—Lauren Batstone, Katherine de Kretser, Clive Greenwood, and Katherine Hang. We have also transitioned to our new auditors. These appointments ensure we have the fresh perspectives and rigorous governance needed to manage our assets responsibly for the next 500 years.

Looking toward 2026, our priority is to move from simply measuring what we do to understanding the difference we make. We have started our Theory of Change work to more clearly define our intended outcomes and impacts. This will be the cornerstone of our 2026+ strategy, enabling more engaged and effective conversations with our existing and prospective Trusted Third-Party partners, particularly as we look to expand our support to the Latin American community and other underrepresented groups. We are also looking to appoint an independent consultant to support us in reviewing our current investment strategy.

Ultimately, by evolving from measuring our actions to evidencing our impact, we are ensuring that our historic mission remains a modern, vital, and deeply effective lifeline for our members and the wider community in 2026 and beyond.

Rebekah Bostan, Chair of the Board of Trustees

ST GEORGE THE MARTYR CHARITY Registered Charity Number: 208732

Report of the Trustees

The Trustees present their report and financial statements for the year ended 31[st] December 2025. The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts 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 accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

Governing Document

The Charity is an endowed Charity, comprising the following funds:

The Charity is unincorporated and commonly called ‘The 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 5[th] January 1971.

During 2025 we undertook a review of the main charity scheme and applied to the Charity Commission to remove or change paragraphs that the Trustees believed hindered the effective operation and administration of the Charity. Further details are provided below.

Organisational structure

The affairs of the charity are managed by the Trustees who generally meet four times a year.

The Trustees have appointed some of their number to sit on two Sub-Committees:

Day-to-day management is the responsibility of the Clerk.

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Appointment, induction and training of Trustees

The Trustee Board comprises:

Co-opted Trustees may serve up to two terms of five years. This was agreed by the Board in 2020.

Previously, Trustees were appointed either as Nominative Trustees (nominated by the local authority) or Co-Optative Trustees (appointed by the Trustee Board). This distinction was removed during 2025 following consultation with Southwark Council and a successful application to the Charity Commission to amend the Charity Scheme. The term ‘Co-Optative Trustee’ was replaced with ‘Co-Opted Trustee’. All previously Nominative Trustees were transferred to Co-Opted Trusteeship.

During 2025, three formerly Nominative Trustees retired or resigned. These were Andrew Starte, who had reached the end of his current term, Amir Eden, and our former Chair Alderman Tim McNally. Four new Trustees were appointed: Lauren Batstone and Katherine de Kretser in March and Clive Greenwood and Katherine Hang in June.

In 2019 the Board agreed that all Trustees should undertake at least one day’s training on the roles and responsibilities of charity trustees unless they can demonstrate that they have undertaken similar training in another trustee role within the past three years. All the newly appointed Trustees will have completed their training in the early part of 2026.

Trustees are also encouraged and facilitated to undertake training on other matters related to their roles. During 2025, some Trustees participated in online training on charity finance.

Key management personnel remuneration policy

Salaries of key management personnel are set by the Board, based on salary reviews, market rates and available funding.

Charitable activities

Our current charitable activities are described below, listed by Fund.

St. George the Martyr Fund (Unrestricted):

The Charity makes discretionary charitable payments (DCPs) to “pensioners”. These are defined in the Scheme as “poor persons who … have resided in the [former Metropolitan Borough of Southwark area] for not less than five years …”

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The Trustees have determined, for the time being, to confine such payments to persons who are of State Pension age and meet certain income and savings criteria. The recipients of such payments – the “pensioners” - are called the Full Members of the Charity. Such title does not confer any authority to participate in the decision-making of the Charity.

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 advantage of the Charity’s other services (see below). In 2025 the Trustees reviewed and reduced the income and savings thresholds for Full Membership. Persons whose income or savings are within the old thresholds but above the new thresholds may be appointed as Associate Members.

During 2025 discretionary charitable payments of £85 were made to all Full Members in March, July and November. We also continued the process of reassessing 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. Members who are discovered to have higher income and/or savings than the eligibility thresholds may be migrated to ‘honorary member’ status, which means they can participate in the Charity’s social activities (see below) but have to pay to 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 … relieving either generally or individually persons resident in the [former Metropolitan Borough of Southwark area] who are in conditions of need, hardship or distress by making grants or money or paying for items, services or facilities calculated to reduce the need, hardship or distress of such persons.”

During 2025 such application of income comprised:

The intended benefits of the above were:

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The Charity is independent of the Church and provides support and services to people of all faiths and none.

Fenner and Martin Bible Fund (Restricted):

The purpose of the Fund is to purchase Bibles for distribution to poor, young people who are resident in the former Metropolitan Borough of Southwark area.

At the beginning of 2025 it was hoped that the Fund would be transferred to the Newcomen Collett Foundation. However, this proved not to be possible. At the end of the year a grant of £1,500 – which represented most of the accumulated reserves of the Fund – was awarded to the St George the Martyr Church for the purchase and distribution of Bibles and other Christian education materials to children and young people.

Delaforce Educational Foundation (Restricted):

This Fund is to be used for the payment of rent and maintenance improvement of the premises of the St. George the Martyr National Schools (currently considered to be St Jude’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 2025. However, a conversation was initiated with the School about the possibility of a substantial grant to be awarded in 2026.

Surrey Dispensary (Restricted):

Surrey Dispensary funds may only be applied “for the purpose of relieving in cases of need, persons … who are sick, convalescent, disabled, handicapped [sic] or infirm by providing or paying for items, services or facilities which are calculated to alleviate the suffering or assist the recovery of such persons in such cases but are not readily available to them from other sources.”

The Trustees have determined that the best use of the funds is the awarding of grants to individuals who reside in the area of benefit for Surrey Dispensary funds, which is the area of the former Metropolitan Boroughs of Southwark and Bermondsey.

Our values

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Statement on Public Benefit

The objectives and activities, and achievement and performance sections of this report clearly set out the current and future planned activities which the charity undertakes for public benefit. The trustees confirm that they have complied with the duty in Section 4 of the Charities Act 2011 to have due regard to public benefit guidance published by the Commission in determining the activities undertaken by the charity. In particular, 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.

Review of 2025

Business as usual

1. Membership

In 2025 we recruited fifty-four new members. This was a significant increase over previous years; the result of a partnership exercise with Southwark Council’s Revenues Team, who directly mailed application forms to Pension Credit recipients within the North Walworth ward.

Also, in 2025 we reviewed the financial thresholds for Full Membership. The Trustees concluded that the adjusted income threshold should be reduced so that it is the same as that for individual grants. This is based on the Minimum Income Standard, with the threshold for 2025 being £15,000 for a single pensioner and £23,700 for a pensioner couple. The thresholds for Full Membership had previously been £22,200 and £33,300.

During the year we lost 31 members and the total at the year-end was 251 (compared to 228 at the end of 2024).

Of those:

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In total, 247 individuals benefited from at least one Discretionary Charitable Payment during 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 2025 we reassessed fifty-three members. Of those:

Two members resigned rather than be reassessed and three had their membership revoked for failing to cooperate with the reassessment process.

The Charity is committed to increasing the diversity of its membership, so that it reflects the community that lives within the Area of Benefit. Of the fifty-four members appointed during the year:

During 2024 we started an outreach project to link up with organisations that support Latin American people in Southwark. The aim was to solicit feedback from them about the relevance and accessibility of our services, with regards the Latin American community, and to generate referrals or sign-postings for membership and/or individual grants.

During the year, in addition to the decision regarding income thresholds, policy decisions were made regarding:

2. Social opportunities

Thirty-nine members plus eight carers/companions enjoyed the summer holiday: a four-night break at the Warner’s Studley Castle Hotel, Warwickshire. We prioritised places based on

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individual need. There is a clear raison d’être for the provision of holidays, which we 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 two coach outings, four theatre trips, two Christmas lunches at a local pub, and a Christmas party in the crypt of St George the Martyr Church.

Eighty-five members attended the Winter Party, plus twenty-three carers/companions. This was the same as in 2024. We were pleased to give thirty spare places to the Blackfriars Settlement. 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 coaches.

Overall, 127 (50%) of our members participated in at least one St George the Martyr Charity social opportunity.

We also signposted Members to other Charities’ social activities through the four-monthly Members newsletter, and through pastoral care interventions.

3. Homecare services

Over the course of the year 15 Members benefited from the home hairdressing service at least once. This was four less than in 2024.

The Trustees are keen to ensure that the Charity’s home hairdressing service meets the needs of its increasingly diverse membership. Since 2023 we have been trying 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 2026.

Twenty-seven members benefitted from free use of Age UK’s ‘Happy Feet’ service through an agreement reached with Age UK Lewisham and Southwark in 2023.

Twenty-one members benefitted from our new home podiatry service, which was launched in July. The service is restricted to members that are unable to get to Happy Feet clinics, or who have heart conditions that mean that Happy Feet is not suitable.

4. Pastoral Care

Throughout the course of the year, fifty-nine members benefitted from pastoral care. Most were pro-active engagements, having been identified as in need at the start of the year. Some were reactive, in that they were in response to events experienced by the member during the year, such as illness or a bereavement.

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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 (e.g. through form filling or advocating on their behalf). In some cases, it was simply visiting members to provide emotional support.

5. Christmas gifts

At Christmas 2025, £60 gift cards were sent to 230 member households (23 more than in 2024).

6. Grants to individuals

During 2025, 102 individuals were directly awarded grants totalling £75,066. The Charity 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 Beneficiaries Total value
SGMC 55+ 61 £43,644
SGMC Under 55 22 £18,204
SurreyDispensary 39 £13,218
TOTAL 122 £75,066

In addition, in January 2025, three grants of £300 each were dispensed to people with No Recourse to Public Funds, through the Southwark Day Centre for Asylum Seekers (SDCAS). Unfortunately, SDCAS experienced staff capacity issues shortly afterwards and were unable to dispense any further grants on our behalf. We are hopeful that these issues will be resolved by spring 2026.

7. Organisational Grants

One organisational grant was awarded during the year. This was for £1,500 to St George the Martyr Church, for the purchase of Bibles, funded by the Fenner & Martin Bible Charity funds.

One organisational grant was repaid. This was a Surrey Dispensary grant of £4,000 that had been awarded to an organisation in 2021, but they were unable to use it for its intended purpose. The funds were received in 2026.

Collaborating with others

1. Trusted Third Parties

No additional grants were dispensed to people with No Recourse to Public Funds, through the Southwark Day Centre for Asylum Seekers (SDCAS). Unfortunately, SDCAS experienced staff

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capacity issues for the full year and could not dispense grants on our behalf. The arrangement, which began in 2023, is intended to provide a route to extend the benefits of the Charity’s funds to population groups we would not be able to reach directly.

In 2025 we attempted to engage other charities as Trusted Third Parties, particularly those supporting the Latin American Community and homeless persons. Unfortunately, no new arrangements were approved during the year.

Improving the organisation

1. The Charity Scheme

Towards the end of 2025 we undertook a review of the main Charity Scheme of 1975. The Scheme had remained unchanged for 50 years. Some parts were considered to be no longer relevant, and others compromised the efficient and effective operation of the Charity.

During November and December, the Charity Commission approved requests to make changes in respect of the following:

A final application was made in January 2026 to delete the sections on Almshouses and Pensions & Pensioners, which are no longer relevant to the Charity’s activities. A response is expected in May 2026.

2. Policies and procedures

During 2025 we approved or reviewed the following policies:

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ST GEORGE THE MARTYR CHARITY Registered Charity Number: 208732

We also completed a review of our approach to lone working and made suitable adjustments to our procedures.

3. Trustee recruitment

Two Trustees – Amir Eden and Tim McNally – stood down as Trustees during 2025, and a third – Andrew Starte – retired, having reached the end of his final term.

Building on the assessment of the collective skills, knowledge, and experience of the Trustees at the end of 2024, four new Trustees were appointed in 2025: Lauren Batstone (formerly Scoot) and Katherine de Kretser in March, and Clive Greenwood and Katherine Hang in June.

Financial Review

Income and expenditure

Total income during the year amounted to £70,720 (2024: £65,583). Income was primarily from term deposit and bank interest and dividends from investments that were liquidated at the end of the year. The funds released from the liquidation of investments were reinvested in accumulation units at the start of 2026.

Total expenditure amounted to £380,420 (2024: £395,024). This left an operating deficit of £309,700 (2024: £329,441). As in previous years, the Trustees had planned for the year-end position to be a deficit, as part of its strategy for reducing the very high level of free reserves that the Charity has been holding for many years.

Donated income amounted to £2,467 (2024: £2,750). This was the Henry Smith Charity Parish Grant (HSCPG) of £1,850 plus £617 received from individuals including an anonymous donor via the CAF Bank. Whilst the HSCPG income is categorised as unrestricted income it was notionally allocated to grants dispensed by Southwark Day Centre for Asylum Seekers (SDCAS) to persons with No Recourse to Public Funds, and to individuals residing at the STAR refuge in Camberwell.

Trustee expenses

Information on Trustees remuneration and expenses is provided in Note 10 to the accounts.

Investments and cash

The Charity’s permanent endowments were invested in common investment funds managed by M&G (Charifund), CCLA (COIF Ethical Investment Fund, COIF Investment Fund) and Savills (Charities Property Fund).

Except for the Savills Charities Property Fund, all investments were in accumulation units, as the

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Charity does not require the income from the endowment until its reserves have been reduced to a reasonable level.

The Savills Charities Property Fund investment was liquidated at the end of 2025, generating a receipt of £458,372. However, this was not received until January 2026 and is included in the debtor figure on the balance sheet. The receipt was re-invested in the COIF Ethical Investment Fund.

At the start of the year the combined value of the endowments was £8,779,489. At 31[st] December 2025 it was £9,596,496 (including the receipt from the Charities property Fund), an increase of 9.3% before income.

On the face of it, this was a good performance, which exceeded the inflation plus 4% target in the Charity’s investment policy. However, this overall good performance was not spread equally across all the separate investments. The Trustees have noted that the CCLA investments failed to meet the policy target and will be commissioning an independent review of the Charity’s investments in 2026.

The Charity’s accumulated reserves, which are surplus to the Charity’s day-to-day requirements are held as a combination of cash, fixed term and fixed notice deposits, and investments.

The intention has been to maintain cash and near cash reserves equal to around two years’ gross expenditure, as a hedge against market volatility. Fixed Term Deposits are included in the Fixed Assets: Investments line on the Balance Sheet.

At the start of the year the value of the invested reserves, excluding Fixed Term Deposits, was £1,330,130. At the year end the value was £755,690. £550,000 was liquidated during the year so overall there was a loss of £24,440. This reflected the poor performance of the COIF Ethical Investment Fund.

Reserves

The St George the Martyr Charity’s current Reserves Policy, which was reviewed during the audit period, is:

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Total unrestricted reserves at the year-end amounted to £1,645,563 (2024 £1,969,981). This was a decrease in reserves of £324,418 (of which £24,400 is attributable to the loss on investments). At the year-end the Charity had fixed assets of £676. Free reserves (net of designated reserves) at the year-end were thus £1,644,887 (2024 £1,968,231).

This figure represents over four years of unrestricted expenditure at the level forecast for 2026. The Trustees have acknowledged that this is significantly higher than the reserves 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 reserves 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 2026

Our priorities for 2026 are as follows:

Business as usual

1. Membership

In 2025 we rebuilt our membership back up to around 250. We aim to maintain this figure going forward. Looking at the figures for losses of members (for a variety of reasons) over each of the past five years, we estimate that this will require the appointment of thirty or more new members each year.

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 six years we have been successful in attracting members from newer communities, particularly Black African and Black Caribbean pensioners who made up 40% new members appointed in the first three quarters of 2025.

However, despite there being a sizeable Latin American community in north Southwark we have not recruited many pensioners from that community. In 2025 we built on the contacts with Latin American organisations that we made in 2024 to extend the benefits of the Charity’s funds to the Latin American community in general. A small number of Latin American pensioners were recruited into membership, and we hope to increase this in 2026.

The Charity’s policy is to undertake financial reassessments of all members every five years, to

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ensure that they are still eligible for membership. 57 members are due for reassessment in 2026. There may also be some that were due 2025 which were not completed within the year.

We will continue to provide pastoral care to as many members that need it as possible. We will pro-actively identify those members who are most in need of pastoral care, set targets for engagement and monitor their delivery over the year.

2. Social opportunities

As we have done in previous years, we will provide a social opportunities programme (including short breaks, day outings, theatre trips and a Winter Party) that can be contained within the budgets approved by the Trustees (see Appendix A). Likely minimum numbers (including staff) are:

As we have done in previous years, we will work with other local organisations to ensure that all paid-for places are used, particularly with regards the Winter Party.

A proportion of the budget will be set aside for providing tailored social opportunities for less mobile members, who want to be socially active but are unable to participate in the group activities we provide. We have set aside £5,000 in our budget for this purpose.

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. This will usually be through the thrice-yearly members’ newsletter .

3. Personal care services

In 2026 we will continue to try to recruit an additional home hairdresser , so we are able to meet the needs of our increasingly diverse membership. A new lead was developed in the second half of 2025, and we will follow this up in the early part of 2026.

We will continue to refer members to Age UK’s Happy Feet nailcare service , where they are able to get to the clinics, and to our new home podiatry service if they are not able.

4. Individual grants

We will continue to help people through our individual grant schemes .

During the first three quarters of 2025 we directly awarded grants to almost 100 people. This

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was roughly the same as we did during the whole of 2024. The total value of the grants was just under £55,000.

We do not have the capacity for a further significant increase in individual grant giving. For 2026 we have set a budget of £70,000 and expect to provide grants to around 125 people.

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. As was the case in 2025, our particular focus will be organisations that support people from the Latin American community and other groups not proportionally represented in our coverage .

Collaborating 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.

In 2025, the Trustees were unable to find a new home for the Fenner & Martin Bible Charity . A single grant was paid out to St George the Martyr Church, which used up most of the accumulated cash reserves. In early 2026 the Trustees agreed to switch the invested endowment back to income units and make an annual grant to the Church, based on the income received.

There was no progress during 2025 in funding a new home of the Delaforce Education Foundation . The Trustees agreed to work with the new Head of St Jude’s CofE Primary School in 2026 to identify an immediate use for the accumulated reserves of around £13,000 and a mechanism for dispensing the annual income for the relatively small endowment.

Improving the organisation

In 2026 we aim to improve the monitoring and evaluation of the impacts of our grants to individuals and pastoral care. This will involve developing a ‘Theory of Change’ and potentially engaging an external agency to capture self-reported outcomes of our work.

At the end of 2025, we appointed new auditors. In early 2026 we ensured that they were properly inducted into the Charity before they commenced their audit of the 2025 accounts.

We will complete the implementation of the outcomes of the strategic review that we undertook in 2025, with regards our reserves policy and associate financial planning. Linked to this, we will commission an independent review of our investments .

We will also continue to work with the Charity Commission to implement the outcomes of the review of our Charity Scheme .

We will explore options for involving members informally in the governance of the Charity.

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We will carry out annual reviews of the following organisational policies:

We will complete the implementation of the outcomes of the review of our approach to lone working that was undertaken in 2025.

We will undertake a review of GDPR compliance in respect of member and grant recipient data, to ensure that we are complying with the policies we reviewed in 2025. We will also arrange GDPR/data protection training for the Visitors. More broadly, we will review our data security 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 additional risks related to the achievement of the priorities and actions listed in this Plan are:

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o Loss or unlawful sharing of key data

The Trustees have approved a Risk Register, 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.

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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 (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England & Wales requires the trustees to prepare 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:

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011 and the provisions of the Charity Scheme. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

On behalf of the board

Rebekah Bostan Chair of the Board of Trustees Date: 10[th] June 2026

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Independent Auditor’s Report to the Trustees of St George The Martyr Charity

Opinion

We have audited the financial statements of St George the Martyr Charity for the year ended 31 December 2025 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ (United Kingdom Generally Accepted Accounting Practice).

The financial statements have been prepared in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.

This has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors’ responsibilities for the audit of the financial statements section of our report. We are independent of the Trust in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

22

ST GEORGE THE MARTYR CHARITY

Registered Charity Number : 208732

Other information

The other information comprises the information included in the Annual report other than the financial statements and our Auditors’ report thereon. The Trustees are responsible for the other information contained within the Annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Statement of Trustees’ responsibilities, the Trustees are responsible for the preparation of the financial statements which give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Trustees are responsible for assessing St George the Martyr Charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the Charity or to cease operations, or have no realistic alternative but to do so.

Auditors’ responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors’ report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

23

ST GEORGE THE MARTYR CHARITY

Registered Charity Number : 208732

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Non-compliance with laws and regulations

We considered the significant laws and regulations to be the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102), the Charities SORP (FRS 102), the Charities Act 2011, and UK tax legislation.

The charity is also subject to laws and regulations where the consequence of non-compliance could have a material effect on the amount or disclosures in the financial statements, for example through the imposition of fines or litigations. We identified such laws and regulations to be the Health and Safety at Work Act 1974, the Data Protection Act 2018, Employment Rights Act 1996 and the Bribery Act 2010.

Our procedures in respect of the above included:

Fraud

We assessed the susceptibility of the financial statements to material misstatement, including fraud. Our risk assessment procedures included:

Based on our risk assessment, we considered the areas most susceptible to fraud to be journals and key estimates and judgements.

Our procedures in respect of the above included:

24

ST GEORGE THE MARTYR CHARITY

Registered Charity Number : 208732

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it.

A further description of our responsibilities for the audit of the financial statements is located at the Financial Reporting Council’s website at frc.org.uk/auditorsresponsibilities. This description forms part of our auditors’ report.

Use of our report

This report is made solely to the trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the trustees those matters we are required to state to them in an Auditors' report and for no other purpose.

To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and its trustees, as a body, for our audit work, for this report, or for the opinions we have formed.

UHY Hacker Young

Chartered Accountants and Statutory Auditors Thames House Roman Square Sittingbourne Kent ME10 4BJ

Date: 16 June 2026

UHY Hacker Young are eligible to act as auditors in terms of section 1212 of the Companies Act 2006.

25

ST GEORGE THE MARTYR CHARITY

Registered Charity Number : 208732

Statement of Financial Activities

St George the Martyr Charity For the year ended 31 December 2025

Unrestricted Restricted Permanent Total Funds Unrestricted Restricted Permanent Total Funds
Notes
Funds (£)		 Funds (£) Funds (£) 2025 (£) Funds (£) Funds (£) Funds (£) 2024 (£)
Statement of Financial
Activities
Income and endowments from:
Donations and Legacies 2
2,467		 - - 2,467 2,750 - - 2,750
Investments 3
66,310		 1,048 - 67,358 57,678 598 - 58,276
Other 4
895		 - - 895 4,557 - - 4,557
Total 69,672 1,048 - 70,720 64,985 598 - 65,583
Expenditure on:
RaisingFunds 5
-		 - - - 429 - - 429
Charitable Activities 6
369,650		 10,770 - 380,420 381,939 12,656 - 394,595
Total 369,650 10,770 - 380,420 382,368 12,656 - 395,024
Net incoming resources before
gains on investments		 (299,978) (9,722) - (309,700) (317,383) (12,058) - (329,441)
Net (losses) / gains on
Investments		 (24,440) (215) 817,007 792,352 81,554 535 536,960 619,049
Net movement in funds (324,418) (9,937) 817,007 482,652 (235,829) (11,523) 536,960 289,608
Reconciliation of funds
Total funds brought forward 1,969,981 59,838 8,779,489 10,809,308 2,205,810 71,361 8,242,529 10,519,700
Total Funds Carried Forward 19
1,645,563		 49,901 9,596,496 11,291,960 1,969,981 59,838 8,779,489 10,809,308

The Statement of Financial Activities has been produced on the basis that all activities are continuing. There are no recognized gains or losses other than those passing through the Statement of Financial Activities. The notes on pages 28 to 35 form part of those financial statements.

26

ST GEORGE THE MARTYR CHARITY

Registered Charity Number : 208732

Balance Sheet

For the year ended 31 December 2025

31 31
Notes December
2025 (£)		 December
2024 (£)
Total Funds Total Funds
Balance Sheet
Fixed Assets
Tangible assets 11 676 1,750
Investments 16 10,109,642 10,555,114
Total Fixed Assets: 10,110,318 10,556,864
Debtors 17 514,163 39,155
Cash at bank and in hand 706,076 227,634
Total Current assets: 1,220,239 266,789
Liabilities
Creditors: Amounts falling due within
one year		 18 38,597 14,345
Total Liabilities 38,597 14,345
Net current assets 1,181,642 252,444
Total assets less current liabilities 11,291,960 10,809,308
Total Net Assets 11,291,960 10,809,308
Funds of the charity
Endowment funds 20 9,596,496 8,779,489
Restricted income funds 20 49,901 59,838
Unrestricted funds 20 1,645,563 1,969,981
Total Charity Funds 11,291,960 10,809,308

The notes on pages 28 to 35 form part of these financial statements.

Approved and signed on behalf of the Trustees on 10[th] June 2026

Rebekah Bostan Chair

27

ST GEORGE THE MARTYR CHARITY Registered Charity Number 208732 28

ST GEORGE THE MARTYR CHARITY

Registered Charity Number : 208732

Notes to the Financial Statements

For the year ended 31 December 2025

General Information

St George the Martyr Charity is an unincorporated charity registered in England and Wales (charity number 208732), governed by its Trust Deed. The registered office is Marshall House, 66 Newcomen Street, London, SE1 1YT.

Basis of accounting

The financial statements have been prepared under the historical cost convention, as modified by the revaluation of fixed asset investments, and in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) (January 2022) and the Charities Act 2011.

The Charity constitutes a public benefit entity as defined by FRS 102.

The financial statements are prepared in pounds sterling, being the functional currency of the entity, and have been rounded to the nearest pound.

The financial statements have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair’ view. This departure has involved following Accounting and Reporting by Charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005, which has since been withdrawn.

The preparation of the financial statements requires the Trustees to make estimates and assumptions that affect the reported amounts of revenues, expenses, assets and liabilities, and the disclosure of contingent liabilities at the date of the financial statements. If in the future such estimates and assumptions, which are based on the Trustees' best judgement at the date of the financial statements, deviate from the actual circumstances, the original estimates and assumptions will be modified as appropriate in the year in which the circumstances change. The Trustees consider that there are no key sources of estimation uncertainty.

Preparation of the accounts on a going concern basis

The Trustees consider that there are no material uncertainties about the Charity’s ability to continue as a going concern. The most significant areas of uncertainty that affect the carrying value of assets held by the Charity are the level of investment return and the performance of investment markets.

Income recognition

All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received, and the amount of income receivable can be measured reliably.

Due to the current nature of the charity’s investment assets, it is not practicable for the investment management costs incurred to be identified prior to the distribution of income. As it is not possible to quantify the investment management costs incurred with reasonable accuracy, investment income is reported net.

29

ST GEORGE THE MARTYR CHARITY

Registered Charity Number : 208732

Expenditure recognition

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure.

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure involving more than one category has been apportioned by the Trustees on a reasonable, justifiable and consistent basis, involving estimating proportions of time spent.

Discretionary charitable payments are recognised in full at the point of payment.

Grants payable are payments made to third parties in the furtherance of the charitable objects of the Charity. These include grants awarded to individuals and those awarded to organisations. The grants are accounted for where either the Trustees have agreed to pay the grant without condition, the amount of the grant can be measured reliably, the recipient has a reasonable expectation that they will receive a grant, or any condition attaching to the grant is outside the control of the Trust.

The charity does not pay investment management fees directly to any of its appointed investment managers.

Funds

The charity has three funds: permanent endowment; restricted and unrestricted funds. The purposes of the restricted funds are covered in more detail in note 19. The unrestricted fund represents the balance of unexpended income and is available for charitable objects, subject to the working requirements of the charity.

Fixed Assets and Depreciation

All tangible fixed assets are stated at cost less depreciation.

Depreciation has been provided at the following rates in order to write off the assets (less their estimated residual value) over their estimated useful economic lives.

Ipads 20% straight Line Other IT 33.3% straight line Office Equipment 25% straight line

Fixed asset investments

Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing market price. The Statement of Financial Activities includes the net gains and losses arising on revaluation and disposals throughout the year.

The Charity does not acquire put options, derivatives or other complex financial instruments.

Debtors

Debtors are recognised at the settlement amount due.

Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

30

ST GEORGE THE MARTYR CHARITY

Registered Charity Number : 208732

Creditors

Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably.

Realised gains and losses

All gains and losses are taken to the Statement of Financial Activities as they arise. Realised gains and losses on investments are calculated as the difference between sales proceeds and their opening carrying value or their purchase value if acquired subsequent to the first day of the financial year.

Unrealised gains and losses are calculated as the difference between the fair value at the year-end and their carrying value. Realised and unrealised investment gains and losses are combined in the Statement of Financial Activities.

Pensions

Employees of the charity are entitled to join a defined contribution ‘money purchase’ scheme. The charity contribution is restricted to the contributions disclosed in note 9. There were no outstanding contributions at the year end.

31

ST GEORGE THE MARTYR CHARITY

Registered Charity Number : 208732

Unrestricted Funds
(£)
Restricted
Funds (£)
Permanent
Funds (£)
Total Funds
2025 (£)
Total Funds
2024 (£)		 Unrestricted Funds
(£)
Restricted
Funds (£)
Permanent
Funds (£)
Total Funds
2025 (£)
Total Funds
2024 (£)
2. Income and Donations from Legacies
Donations
2,467
-
-
2,467
2,750
Total Income and Donations from
Legacies
2,467
-
-
2,467
2,750
Unrestricted Funds
(£)
Restricted
Funds (£)
Permanent
Funds (£)
Total Funds
2025 (£)
Total Funds
2024 (£)		 Donations
2,467
-
-
2,467
2,750
3. Income from Investments
Dividends
36,015
-
-
36,015
39,074
Term Deposit and Bank Interest
30,295
1,048
-
31,343
19,202
Total Income from Investments
66,310
1,048
-
67,358
58,276
Unrestricted Funds
(£)
Restricted
Funds(£)
Permanent
Funds(£)
Total Funds
2025(£)
Total Funds
2024(£)
4. Other Income
Other operatingincome
895
-
-
895
4,557
Total Other Income
895
-
-
895
4,557
Unrestricted Funds
(£)
Restricted
Funds (£)
Permanent
Funds (£)
Total Funds
2025 (£)
Total Funds
2024 (£)
5. Expenditure on Raising Funds
Investment Management Fee
-
-
-
-
429
Total Expenditure on Raising Funds
-
-
-
-
429
Unrestricted Funds
(£)
Restricted
Funds (£)
Permanent
Funds (£)
Total Funds
2025 (£)
Total Funds
2024 (£)
6. Charitable Activities
Charitable Activities
Grants to Individuals via other
organisations
-
(2,500)
-
(2,500)
4,075
Grants to individuals
54,999
13,126
-
68,125
56,451
Discretionary Charitable Payments
53,210
-
-
53,210
53,890
Christmas Gifts, Christmas Parties &
St George’s Day Grants
34,084
-
-
34,084
31,162
Pensioner Trips and Outings
17,126
-
-
17,126
17,465
Pensioner Holiday Costs
26,176
-
-
26,176
24,578
Personal Care Services
10,746
-
-
10,746
12,451
Charitable Activities Staff Costs (see
note 9)
88,588
-
-
88,588
88,090
Support Costs
84,721
144
-
84,865
106,433
Total Expended on Charitable Activities
369,650
10,770
-
380,420
394,595
Unrestricted Funds
(£)
Restricted
Funds (£)
Permanent
Funds (£)
Total Funds
2025 (£)
Total Funds
2024 (£)
7. Support Costs
Office Rental
19,978
-
-
19,978
19,282
Administrative Staff Costs (see note
9)
41,651
-
-
41,651
61,722
Other Expenses
8,316
144
-
8,460
9,663
Depreciation and loss on disposal of
assets
1,074
-
-
1,074
1,508
Accountancy
3,480
-
-
3,480
3,450
Governance Costs (see note 8)
10,222
-
-
10,222
10,808
Total Expended on Charitable Activities
84,721
144
-
84,865
106,433		 Office Rental
19,978
-
-
19,978
19,282
Administrative Staff Costs (see note
9)
41,651
-
-
41,651
61,722
Other Expenses
8,316
144
-
8,460
9,663
Depreciation and loss on disposal of
assets
1,074
-
-
1,074
1,508
Accountancy
3,480
-
-
3,480
3,450
Governance Costs (see note 8)
10,222
-
-
10,222
10,808

32

ST GEORGE THE MARTYR CHARITY

Registered Charity Number : 208732

Unrestricted Funds
(£)
Restricted
Funds (£)
Permanent
Funds (£)
Total Funds
2025 (£)
Total Funds
2024 (£)
8. Governance Costs
Board meeting costs
1,284
-
-
1,284
1,269
Stakeholder Event
-
-
-
-
1,169
Auditors Remuneration – statutory
audit
8,400
-
-
8,400
7,200
Trustee Training
538
-
-
538
1,170
Total Governance costs
10,222
-
-
10,222
10,808
Unrestricted Funds
(£)
Restricted
Funds (£)
Permanent
Funds (£)
Total Funds
2025 (£)
Total Funds
2024 (£)
9. Staff Costs
Wages and Salaries
116,905
-
-
116,905
128,720
Social Security Costs
4,227
-
-
4,227
8,896
Pension Costs–defined contribution
8,251
-
-
8,251
9,106
Staff Professional expenses and
training
855
-
-
855
3,090
Total Staff costs
130,238
-
-
130,238
149,812

The charity considers its key management personnel to comprise the Trustees and the Clerk. The total employment benefits of key management were £45.601 (2024: £62,571)

Numbers of employees

bers of employees
Engaged on charitable activities
Engaged in management and administration
Total		 2025
2024
2
2
1
1
3
3

No employees received remuneration of more than £60,000 (2024: none).

Retirement benefits are accruing for 3 members of staff under a money purchase scheme (2024: 3)

10. Transactions with Trustees

No trustees received remuneration in 2025 or 2024.

In 2025 and 2024 no trustees were reimbursed for expenses. During 2025 no ipads were gifted to Trustees but during 2024 3 iPads with undepreciated value of £88 each were gifted to retiring Trustees in line with charity policy. iPads purchased by the charity 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 to Trustees.

11. Tangible Fixed Assets

11. Tangible Fixed Assets 11. Tangible Fixed Assets
Office
Equipment
Computer
Equipment
Total
(£)
(£)
(£)
Cost
Cost 1stJanuary 2025
994
5,892
6,886
Acquisitions
-
-
-
Disposals
-
-
-
Cost 31 December 2025
994
5,892
6,886
(£)
(£)
(£)
Depreciation
Depreciation 1stJanuary 2025
(757)
(4,379)
(5,136)
Charge for the year
(128)
(946)
(1,074)
Depreciation 31 December 2025
(885)
(5,325)
(6,210)
(£)
(£)
(£)
Net Book Value
At 31 December 2025
109
567
676
At 31 December 2024
237
1,513
1,750

33

ST GEORGE THE MARTYR CHARITY

Registered Charity Number : 208732

12. Financial Instruments

The significance of financial instruments to the ongoing financial sustainability of the charity is considered in the investment policy and risk management sections of the Trustee’s Report.

The Charity owns only basic financial instruments.

Financial Assets – measured at fair value through income and expenditure
2025 (£)
2024 (£)
10,815,718
10,782,748
Financial Assets comprise cash at bank and investments
Market Value
31 Dec 2025
Funds (£)
Cost 31 Dec
2025 Funds (£)
Market Value 31
Dec 2024 Funds
(£)
Cost 31 Dec
2024 Funds
(£)		 Financial Assets – measured at fair value through income and expenditure
2025 (£)
2024 (£)
10,815,718
10,782,748
Financial Assets comprise cash at bank and investments
Market Value
31 Dec 2025
Funds (£)
Cost 31 Dec
2025 Funds (£)
Market Value 31
Dec 2024 Funds
(£)
Cost 31 Dec
2024 Funds
(£)
13. Fixed Assets Investments
Permanent Endowment
Fenner & Martin Bible Fund – COIF (accumulation
units)
19,147
16,939
19,528
16,939
Delaforce Educational Foundation – COIF
(accumulation units)
8,882
5,987
9,059
5,987
St George the Martyr United Fund – Charifund
(accumulation units)
4,571,735
3,326,138
3,669,333
3,326,138
St George the Martyr United Fund – Ethical Investment
Fund (accumulation units)
3,812,714
3,444,390
3,576,377
3,131,445
St George the Martyr United Fund – COIF Property
Fund (income units)
-
-
314,233
288,856
St George the Martyr United Fund – Savills Property
Fund (income units)
-
-
450,884
395,000
Surrey Dispensary Fund – COIF (accumulation units)
725,646
705,022
740,075
705,022
Total Permanent Endowment
9,138,124
7,498,476
8,779,489
7,869,387
Restricted Funds
Delaforce Educational Foundation (accumulation units)
10,828
7,299
11,043
7,299
Total Restricted Funds
10,828
7,299
11,043
7,299
Unrestricted Funds
St George the Martyr United Fund – Ethical Investment
Fund (accumulation units)
755,690
685,764
1,330,130
1,180,769
Total Unrestricted Funds
755,690
685,764
1,330,130
1,180,769
Total Fixed Asset Investments
9,904,642
8,191,539
10,120,662
9,057,455
Unrestricted
Funds (£)
Restricted
Funds (£)
Permanent
Endowment (£)
31 Dec 2025
(£)
31 Dec 2024
(£)		 Unrestricted
Funds (£)
Restricted
Funds (£)
Permanent
Endowment (£)
31 Dec 2025
(£)
31 Dec 2024
(£)
14. Movement in Fixed Asset Investments
Brought forward at 1 January
1,330,130
11,043
8,779,489
10,120,662
9,781,613
Additions
-
-
312,945
312,945
-
Disposal Proceeds
(550,000)
-
(771,317)
(1,321,317)
(280,000)
Realised gain
(7,621)
-
6,198
(1,423)
9,949
Unrealised gain
(16,819)
(215)
810,809
793,775
609,100
Market Value at 31 December
755,690
10,828
9,138,124
9,904,642
10,120,662
Permanent endowment of £705,022 was introduced in 2024 as a result of the linking of the Surrey Dispensary Charity.
Unrestricted
Funds (£)
Restricted
Funds (£)
Permanent
Endowment (£)
31 Dec 2025
(£)
31 Dec 2024
(£)
15. Fixed Asset Investments– Term Deposits
Term Deposits
205,000
-
-
205,000
434,452
Total Term Deposits
205,000
-
-
205,000
434,452
Unrestricted
Funds (£)
Restricted
Funds (£)
Permanent
Endowment (£)
31 Dec 2025
(£)
31 Dec 2024
(£)
16. Fixed Asset Investments
Investments
755,690
10,828
9,138,124
9,904,642
10,120,662
Term Deposits
205,000
-
-
205,000
434,452
Total Fixed Asset Investments
960,690
10,828
9,138,124
10,109,642
10,555,114

34

ST GEORGE THE MARTYR CHARITY

Registered Charity Number : 208732

Unrestricted
Funds (£)
Restricted
Funds (£)
Permanent
Endowment (£)
31 Dec
2025 (£)
31 Dec
2024 (£)		 Unrestricted
Funds (£)
Restricted
Funds (£)
Permanent
Endowment (£)
31 Dec
2025 (£)
31 Dec
2024 (£)
17. Debtors
Prepayments
44,699
-
-
44,699
24,817
Accrued Income
-
4,000
463,718
467,718
11,192
Other Debtors
1,746
-
-
1,746
3,146
Total Debtors
46,445
4,000
463,718
514,163
39,155
Unrestricted
Funds (£)
Restricted
Funds (£)
Permanent
Endowment (£)
31 Dec
2025 (£)
31 Dec
2024 (£)
18. Creditors
Accounts payable
24,846
-
-
24,846
11,672
Accruals
12,049
-
-
12,049
75
Credit card
1,702
-
-
1,702
2,598
Total Creditors
38,597
-
-
38,597
14,345
Unrestricted
Funds (£)
Restricted
Funds (£)
Permanent
Endowment (£)
31 Dec
2025 (£)
31 Dec
2024 (£)
19. Funds
Brought forward at 1 January
1,969,981
59,838
8,779,489
10,809,308
10,519,700
Current Year Earnings
(324,418)
(9,937)
817,007
482,652
289,608
At 31 December
1,645,563
49,901
9,596,496
11,291,960
10,809,308
Restricted Funds
The charity has 3 restricted funds:

Fenner and Martin Bible Fund

For the purchase of bibles for distribution to poor young persons resident in the area of benefit. Preference shall be given to qualified persons resident in the area of the former parish of St. George the Martyr.

Delaforce Educational Foundation

For the payment of rent and maintenance improvement of the premises of St. George the Martyr National Schools. Any residue of income to be applied by the Trustees in such manner as they think fit.

Surrey Dispensary Fund

Surrey Dispensary was founded in 1777 to administer advice and medicine to the poor in the north of what is now the London Borough of Southwark. The Surrey Dispensary charity (registered charity number 208732-2) was linked to St George the Martyr Charity during the year. As a result, restricted cash of £56,208 and permanent endowment investments of £705,022 were introduced to the charity.

All restricted funds have investment assets within the permanent endowment that produce restricted income within the restricted fund.

Unrestricted
Funds (£)
Restricted
Funds (£)
Permanent
Endowment (£)
31 Dec
2025 (£)
31 Dec
2024 (£)		 Unrestricted
Funds (£)
Restricted
Funds (£)
Permanent
Endowment (£)
31 Dec
2025 (£)
31 Dec
2024 (£)		 Unrestricted
Funds (£)
Restricted
Funds (£)
Permanent
Endowment (£)
31 Dec
2025 (£)
31 Dec
2024 (£)
20. Particulars of Individual funds and analysis of assets and liabilities representing the funds
Tangible fixed assets
676
-
-
676
1,750
Investments
960,690
10,828
9,138,124
10,109,642
10,555,114
Cash and short-term deposits
671,003
35,073
-
706,076
227,634
Debtors
51,791
4,000
458,372
514,163
39,155
Creditors
(38,597)
-
-
(38,597)
(14,345)
Funds at 31 December
1,645,563
49,901
9,596,496
11,291,960
10,809,308
Unrestricted
Restricted
Permanent
31 Dec
31 Dec
Funds (£)
Funds (£)
Endowment (£)
2024 (£)
2023 (£)
21. Prior Year Particulars of Individual funds and analysis of assets and liabilities representing the funds
Tangible fixed assets
1,750
-
-
1,750
2,670
Investments
1,764,582
11,043
8,779,489 10,555,114
10,292,911
Cash and short-term deposits
178,839
48,795
-
227,634
191,600
Debtors
39,155
-
-
39,155
70,122
Creditors
(14,345)
-
-
(14,345)
(37,603)
Funds at 31 December
1,969,981
59,838
8,779,489 10,809,308
10,519,700

35

ST GEORGE THE MARTYR CHARITY

Registered Charity Number : 208732

22. Movement in Funds 2025

22. Movement in Funds 2025
At 1 January Gains / At 31 December
2025 Income Expenditure Transfers (Losses) 2025
(£) (£) (£) (£) (£) (£)
Unrestricted Funds 1,969,981 69,672 (369,650) - (24,440) 1,645,563
Restricted Funds:
Surrey Dispensary 44,288 1,048 (9,126) - - 36,210
Fenner & Martin 1,908 - (1,572) - - 336
Delaforce 13,642 - (72) - (215) 13,355
Total Restricted Funds 59,838 1,048 (10,770) - (215) 49,901
Permanent Endowment Funds:
Surrey Dispensary 740,075 - - - (14,429) 725,646
Fenner & Martin 19,528 - - - (381) 19,147
Delaforce 9,059 - - - (177) 8,882
St George the Martyr United 8,010,827 - - - 831,994 8,842,821
Total Permanent Endowment Funds 8,779,489 - - - 817,007 9,596,496
Total Funds 10,809,308 70,720 (380,420) - **792,352 ** 11,291,960

23. Prior Year Movement in Funds

23. Prior Year Movement in Funds
At 1 January Gains / At 31
2024 Income Expenditure Transfers (Losses) December 2024
(£) (£) £) (£) (£) (£)
Unrestricted Funds 2,205,810 64,985 (382,368) - 81,554 1,969,981
Restricted Funds:
Surrey Dispensary 56,210 598 (12,520) - - 44,288
Fenner & Martin 1,976 - (68) - - 1,908
Delaforce 13,175 - (68) - 535 13,642
Total Restricted Funds 71,361 598 (12,656) - 535 59,838
Permanent Endowment Funds:
Surrey Dispensary 704,251 - - - 35,824 740,075
Fenner & Martin 18,583 - - - 945 19,528
Delaforce 8,620 - - - 439 9,059
St George the Martyr United 7,511,075 - - - 499,752 8,010,827
Total Permanent Endowment Funds 8,242,529 - - - 536,960 8,779,489
Total Funds 10,519,700 65,583 (395,024) - 619,049 10,809,308

24. Related Party Transactions

There were no related party transactions in 2025. There were no related party transactions in 2024 apart from those with Trustees detailed in note 10.

25. Operating lease commitments

At 31 December 2025, the Charity had outstanding commitments for future minimum lease payments which fall due as follows:

Within one year
Between one and five years
In over five years		 2025 (£)
2024 (£)
20,714
19,963
41,428
59,890
-
-
62,142
79,853

26. Surrey Dispensary

In May 2024 the Surrey Dispensary charity (registered charity number 208732-2) was linked to St George the Martyr Charity. Surrey Dispensary was founded in 1777 to administer advice and medicine to the poor in the north of what is now the London Borough of Southwark.

As a result of the linking of the charities the following Surrey Dispensary Funds were introduced at 1[st] Jan 2024.

Permanent Endowment £705,022 Restricted Funds £55,435

36