PENSION TRUST FOR CHRISTIAN SCIENCE NURSES (LIMITED BY GUARANTEEI Registored Charity No. 209226 {Company Number 005989951 FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 Klngston Burro6 Audlt Ltd 308 Ewell Road Surbiton Sutrey, KT6 7AL
PENSION TRUST FOR CHRISTIAN SCIENCE NURSES {LIMITED BY GUARANTEEI Registered Charity No. 209228 (Company Number.. 005989951 REPORT OF THE TRUSTEES IN RESPECT OF THE YEAR ENDED 30 JUNE 2025 The Trnstees pr8sent thelr report and the audited Financial Statements of the Company forthe year 8ThJed 30 June 2025. REFERENCE AND ADMINISTRATIVE INFORMATION Registered Charity No". Registered Company No-. 209226 00598995 Regislered Office and Administrator ctare Talbot PO Box1664 Northampton NN2 1JH Profe88ional Advisers Bankers CAF Bank Limited 25 ngS Hill Avenue Kings Hill, Wesl Malling Kent, ME19 4JQ Soliators James Brenan Cubism Law 118 Chan¢ery Lafte London WC2A 1 PP Auditors Qngston Burrowes Audit Ltd 308 Ewell Road Surt)ilon Surrey, KT6 7AL Investment Adviser Jame8 Pike Waverton Invesknent Llmiled 21 St James's Square London SW1Y 4HB T¢)m Meadows Sovereign Wèatth LLP (for St Jame8'8 Place) 1265 Century Way Thorpe Parf( Leeds LS15 8ZB The Trustees who served during the year and subsequently were: Mr Stephen Eggin8 Chalrnian (resigned as Tnjstee antj Chaimian 13 February 20251 Mr Michael Morgan Chainnan (appointed as Chairman 13 Febrnary 2025} MIE Margritta Reid Vice-chaimian (appointed as Vice-chaimian 13 February 2025) Mrs Mary Jane Pearson (resigned as Vice-chaiman 13 February 2025) Mrs Julie Brearfey Mrs Philippa Chattedey Mrs Angela Walla (appointed as Trustee 13 February 20251 (resigned as TNslee 31 August 20241
PENSION TRUST FOR CHRISTIAN SCIENCE NURSES ILIMITED BY GUARANTEEI Registered Charity No. 209226 (Company Number. 00598995} REPORT OF THE TRUSTEES IN RESPECT OFTHE YEAR ENDED 30 JUNE 2025 STRUCTURE. GOVERNANCE AND MANAGEMENT Goveming Document The organisalion Is a charitable company limited by guaran188. incorporated on 17 February 1958 and registered as a Gharity on 22 September 1962. The company was established under a Memorandum of A$soatiOn which estsblished Ihe objects and powers of the tharitable company and is govemed under its Articles of Assooalion. In the event of the company being wound up, members are required to contribute an amount not exceeding £10. Recruitment and Appointment of Management C¢Jmmittee Th8 directors of the company are also charity tnÉstse8 for the purposes of tharity law and under the compans Arbcles 8re known as members of the Manao8ment Committee. In accordance with the Artides ofAsswatlon, all tNslees Fetire at the annual meeting of the company and belng ellgible offer themselves for re-election. New truste8s may be appointed by the twstees. New tnJstees are provided with a copy of the goveming docwments, copies of recent Minutes and olhgr doojments which migm be helpful as well a8 a preliminary briefing by the chaimian. Courses are arranged from tlme to time to keep trustees up-to-date with current 16gisl8ts"on. Charity Commission newsletters are available to all tru81ees, and briefings are provided from time lo time on the re8ponsibilrties of tnjstees. Curfenl Status The Pension Trust for Christian Science Nur8es has been operaling for Tnany years. Its Financial Support Fund (previously known as Benevolent Fund) has been in existence Sin the earty 10s, promding assistance for those who are or have been Christian scien nurses. The charity's oth8r role has been to aci as the Trustee to the Pension Trustfor the Christian srAen Nurses, Pension Scheme, which has now successfully been wound up. The Financial Support Fund is still very much in business, including finanoal support to those who retired on small pensions in the pasL Additionally, The Training Fund Ipreviousty known a8 'Th8 Scholarship Fund'l gives assistsnce to Christlan Sciènce nurses in Ih8ir training and career progression. Risk Managern8nt The trustees remew the major operational risks whh the charity faces and confirm that $y$tems are in place to mitigate those rtsks. Professional adw8ers are empowered to on ih8ir behaff. ganisallonal Structure The Pension TNst for Christian Science Nurses is managed by the trustees who are r&sponsibl8 for the entire administration, management and day lo day control of the charity. Operational matt¢rs are delegated to an adminislralorwho is a part-time employee of th8 charity.
PENSION TRUST FOR CHRISTIAN SCIENCE NURSES IUMITED BY GUARANTEE) Registered Charity No. 209228 (Company Numb&r. 005989951 REPORT OF THE TRUSTEES IN RESPECT OF THE YEAR ENDED 30 JUNE 2025 OBJECTIVES AND ACTIVITIES The prinpaI actiwty of the company is lo act as a Benevolent Fund to receive Ifonataon8, lègacies. sub¥criplions and gifts to assist persons who are or who have been Christian Saence Nurses. The trustee$ are responsible for the strategiG direction and policy. The Christian Science church was organised to "commemorate the word and works of our Ma$tgr and to reinstste primitive Christianity and its lost element of healing". Ichllstian SCnce Church Manuall. The objects of the PTCSN are the advancèmttnl of the religion of Christian Science, and the ministry of spiritual healing in accordance with ils leachings. by providing finantial support for the profe8&on of Christian scien nursing generalty by means of pecuniary or other assistance lo persons who are or h8ve been Christian ScAence Nurses. IndiMduals wishing lo rely on Christian ScAen¢e for their healthcare needs may prefer a Christian ScAence nurse who is supportive of healing through prayer. These Christian Soence nurses do not limit their avallability lo members of the Christian Sciance church as their Christian Science nursing 8ervice8 are availablo to the public. Some of the ways the Christian ScienG8 nurse serves the publiG are.. woMng in the Chrfsttan nce Nursing Hou88 in the UK This hou8e 18 registered and in8PeCt8d by the Care Qu81ity Commission. Admission to the Christian Soenc8 Nursing House is not limited lo members of tho Chiistian Science Churth., worf(ing as a visiting Christian Science nurse prowding vrtal care, enabling people lo stsy in their own homes and Still be part of and serve their communities., advertising in a wortdwide publication. The Christian 8Then Joumal, which is available to the public. Chn8tlan Sdenc£ Readlng Rooms proMd6 publlc acce8S to thls PLEblication. There are no other spocific lunds in the UK to offerfinancial support solely to the Chris118n Science nurses in their support of Christian Scien. The Trust is administered by up to five Tnjstees, who through their love ()f Christian Science 2nd its Christian Saence nurses. willingly give their free time at least one day every three months tts the strategic d1Ction and policy of the Fund. They feceive no rernuneration. The Tru81 is entirety funded by donations, legacies, sub8cription8 and gffts from indi(Jua1 and Christian Science churches and sooelies. hen planning thelr activilles for lh8 year, the Tnjstses carefvlty conslder th8 Charity Commisslon's guidance on public benefit and the Spec1¢ guidanc6 on charities for the advancement of religion. In partiajlar, the TnJst supports those Christian SrAence nurses who need extra funds to rArry out their healing practice. which is available kn anyone. Finanaal SUPPLYt to Chri8tian ScAence nurses 1$ given for their training by funding assouated costs their wot1t by helping wrth Ir8vel costs and other associated costs. their ongoing spiritual development through prayer and study courses. assistsnce in retirement so that they can mainl8in a reasonat4¢ standard of living.
PENSION TRUST FOR CHRISTIAN SCIENCE NURSES (LIMITED BY GUARANTEEI Registered Charity No. 209226 {Company Number. C()598995) REPORT OFTHE TRUSTEES IN RESPECT OF THE YEAR ENDED 30 JUNE 2025 ACHIEVEMENT AND PERFORMANCE Healings are athleved Ihrou9h prayer. In many such L>ses, Cfvislian SL?ence nur888 have cared for the patient, ensuring that their physi1 needs are mel. Some of these are recorded and can be read in tha Chnstian Science periodicals. leafiets and intemel web&te8 such as chrislianscience.Lxim. All healings have lo be authenlicatsd. In order that this vital healing practi can go on, it is necessary for the Trust to 8UPPOrt the Christian Sdence nLwses financially. The seleGtion of beneficiaries and the detsmiinalion of the respective amounis of thelr grants is made by the Iruslee8 in their absolute discretion. During the year grants to retired. woffting and trainee Christian ScAenc8 nurses and oryanis81ions that support them amounted to £135,578 (2024.. £62,971). Income from investments. induding Inte8t received, totslled £84,195 12024.. £73,398). In adthlion, donations reiVed amounted to £107,66812024'. £73,528). RESTRICTED FUNDS-TRAINING SCHOLARSHIP FUND We are continuing with this area of 8ctiMty. It has been recognised for some tlme that the ¢ost of training can be 8 potential barrier for those wishing to become Christian Science nurses. To meet this need we have set up a Christian Science nur8es' Training Scholarydhip to support Christian Sdence healing, by financially enabling membèr¥ of The Mother Church to prepare for the ministy of Christian Saence nursing. Seed funding. and additional contributions for the scho18rships, has bn provided by The W6stmin8ler Fund and we are most grateful for thi$. FINANCIAL REVIEW Net incL)me for the year, before accounting for investment gains and losses. amounted to £110,134. Taking into a¢count a rF&t gain on investments of £284,667 the net movement of funds for the year was an infxjme of £394,801. RESERVES POLICY To incTrase the Trust's reserves so that all demands are met from the income from investments and regular donations. Unrastricted reserves a 30 June 2025 amountod to £3,617.og6. TRAINING TF*IS YEAR AND PLANS FOR FUTURE PERIODS To maintain dose contacts with all supporters of the Trust with the Mew to upholding the Chistsan Science nursing pmfession in the UK and to ensure lrnslees contirtue to pUue training opporbjnities as appropriate. STATEMENT OF TRUSTEES. RESPONSIBIUTIES The tnJslee8 (who are also directors of Per¢sion Trust for Christian Saence Nurses for the purposes of company lawl are responsible for preparing the Tru8tees' Report and the Financial Staternenls in arKordance with applicable law and United tQngdom Accountlng Stsndards (Unitsd Kingdom Gonerally ALfEPted Accounting Pradic81.
PENSION TRUST FOR CHRISTIAN SCIENCE NURSES IUMITED BY GUARANTEE) Registered Charity No. 209226 (Company Number. 00598995) REPORT OF THE TRUSTEES IN RESPECT OF THE YEAR ENDED 30 JUNE 2025 STATEMENT OF TRUSTEES, RESPONSIBILITIESlcontd... Company law requires the Trustees to prepare Finanoal Statemerrt8 for each financial year, whlch give a true and fair view of the state of affairs of the charitablè company and of th8 incoming resourcès And application of resources, including the income and expenditure, of thg tharitable company for thAt year. In preparing Ihgse Financial Statements, the Twstees are required to.. select suitable accounting poliaes and then apply them eonsistenUy', observe the methods and principles in the Charities SORP 2019 IFRS 102)- make judgements and estimates that are reasonable and prndent.. stale whether applicabl8 UK Accounting Standards have begn followed, subject to any material departures disdosed and explained in the Financial Statements., prepare tho Financial Statements on the going concern basi$ unles$ it is inappropriale to presume that the charitable company wll continue in operation. The Trustees are responsible for keeping adequate accounting recLJrds which disdoye with reasonabl& accuracy at any time the finanrial position of the charitable company and to enable them to ensure that the Financaal Stslements comply wf(h tha Companies Act 2006. They are also responsible for safeguarding the assets of the charitsble company and herice for laking reasonable steps for the preverltion and detection of fraud and other irr8gularilies. STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS So far as the trustees are aware, there is no relevant 8udil infonnation of which the companys auditors are unaware, anil each trustee ha8 taken all the steps that he ought to have tsken as a trustee in order lo make himself aware of any relevant audit infomation and lo èstablish that the company's auditors ara aware of that infonnation. AUDITORS The Auditors, ngston Burrowes Audit Ltd. have indicated that they are willing lo be reappointsd at the forthcoming Annual General Meeting. This Trusts8s' Report has been prepared in accordance with the special promsions of Part 15 of th& Compani08 Aci 2006 relating to small companies. Approved and signed on behaw of tre Board. Michael Morgan Trustee PO Box 1664 Northampton NN2 1JH 2025 Registered Office
INDEPENDENT AUDITOR'S REPORT TO TriE MEMBERS OF: PENSION TRUST FOR CHRISTIAN SCIENCE NURSES IA COMPANY LIMITED BY GUARANTEE AND NOT HAVING A SHARE CAPITALI (Reglsterod cha No: 2092261 We have audited the financi81 $18temenls of Pension Trust for Christian Scienee Nur8es (the 'charitable company'l for the year ended 30 June 2025 which comprise the Statement of Financial Activities. Balance Sheet and notes to the finanal strdlements, induding a summary of Significant 8ccounling policies. The finanual reporting framework that has been applied in their preparation is applicable law and Unrted Kingdom Accounting Standards, including Finana81 Reporting Standar(1 102 The Finanaal Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the finanaal 8talements'. give a true and fair view of the state of the ch8rit8ble CoMpanS affairs as at 30 Jun8 2025, and of its incoming resou$ and application of resou$$. induding ils income and expenditure for the year th8n ended. have been PrOpeY prepared in accordance with Unitsd lfjngdom Generally Accepted Accounting Practice.. and h8v8 b88n prepared in aLrdance with the rèquirements of the Companies Act 2006. Basls for oplnion We conducted our audit in accordance with InteTn81ional Stsndards on Auditing ILSKI (ISA8 IUKI) and applicablo law. Our responsibilities under those standards are further described in the Audilols responsibilities for the audit of the financ¥al statements section of our report. We are independent of the charitsble company in accordance wth the ethi1 requirements that are relevant to our audit of the fin8naal statements in the UK, induding the FRC'8 Ethical St8nd8rd, and we have fUlled our other ethical r8sponsibililies in accordance with these requirements. We believ8 Ihat the audit emdence we have obtained is suffiaent and appropriate to prowde a basis for our opinion. Concluslons relatlng to going ¢oncem In auditing the finana21 statements, we have conduded that the trustees, use of th8 going COrern basis of accountino in the preparation of the finanaal statements is appropriate. Based on the wort we h8ve perfornied, we have not identified any material uncertainties rÈlatlng Io ovenls or conditions that, individually or collectively, may cast significant doubt on the tharitable company's ability to conb.nue as 8 going concem for a period of at least ¥81Ve months from when the financial statements are authorised for issue. Our responsibilities and the re8ponsibiliti¢$ of the trustees with respect to going CortM are d&scribed in Ihe relevant sections of this report. Other infomiatlon The Iru8tees ar8 sponsible for tha other Snfomiation. The other infom)ab"on comprises the infomation induded in the Report of the TNstsos, other than the financial statements and our auditorfs report Ihereon. Our opinion on the financial statements does not cover the other inform*ion and, except to the extent othe1$e explicitly staled in our report, we do not ewe88 any fomi of assurance condusion thereon.
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF: PENSION TRUST FOR CHRISTIAN SCIENCE NURSES IA COMPANY LIMITED BY GUARANTEE AND NOT HAVING A SHARE CAPITAL) (Reglstered Charfty No: 2092261 In connection with our audit of the finanaal slalemenls. our responsibility is lo read the other inforrnation and, in doing so, conslder whether the other infomiation is materially inconsistent with th8 financ4al statements or our knoedge obtained in the audit or otherwise appears to bè matertally misstatsd. If w6 identity such material inc4)nsistencies or apparent materlal misstatements, we are required to detemine whether there is a material misstatem8nt in the finanual statements or a materfal misststement of the other infomiatton. If, based on the work we have perfomied. we conclude that there 18 a material mi88tat8menl of thi8 Other infom)atson. we ara required to report that faca. We have nothing to report in this regard. Oplnlons on ¢)ther matter8 we8cribed by the Companle8 Act 21K16 In our opinion. based on the work undertaken in the course of the audit.. th8 Infornialion given in the Report of the Truslees for the finanaal year for which the finanoal statements are prepared is consistent with the finanaal statements,. and the Report of the Trustees has been prepared in awrdanrE with applicable legal requirements. Matters on which vft aye requirnd to report by exception In the1Sght of our kncwjledge and understanding of the tharitable company and its environment obtsined in the course of the audit, we have not identified material misstatements in the Report of the Trustees. We have nothing to report in respect of the following matters in relation to which the Companies Act 201 r4uires us to report to you rf, in ¢JJr s)plnion'. adequate accounting cOrdS have not been kepl. or retums adequats for our audit have not been reiVed from branches not visitsd by us; or the financial stalèm8nts are not in agreement with the accounb.ng records and retum8' or certaln disdosures of tte88, remuneration specified by law are not made., or we have not reiVed all the infomiation and explanations we require for our audit., or the trustees were not entiued to prepare the finanaal Statements in accordance with the small cornpanies regime and lake advantage of the sfflall ¢ompanie3' exemptions in preparing the trustees. report and trom the requir¢menl lo prepatE a strategic pOrt. Responslbllltlg$ of trustoos As explained more fully in the trustees respon8ibilib.es statement, the Iru8tees {who are also the direo*ors of the tharitable company for the purposes of MpanY law) are responsible for thè preparation of the financial ststements and for being satisfied that they give a tnje and fair wew, and for SUGh inlemal control as the trustees detemiine is necessary lo enable the preparation of financial statements that are free from material misslatomenl, whether due to traud or error. In preparing the financ4al statements, the tFU8tses are responsible for assessino the tharitsble company's ability to cDnkn'nue as a going u)ncem. disclosing, as applicable, matters related lo going concem and using the going concem basis of accounting unlgss the trustees either intsnd to liquidate the rtharitable company or lo cease operations, or have no realistic 8ltemative bul to do 80.
INDEPENDENT AUDITORJS REPORT TO THE MEMBERS OF: PENSION TRUST FOR CHRISTIAN SCIENCE NURSES IA COMPANY UMITED BY GUARANTEE AND NOT HAVING A SHARE CAPITALI IRegisler¢d Charity No: 209226) Auditoes responslbllltiès forthe audlt of tho Ilnancial 8tatemgnts Our objecb.ves are to obtain reasonable assuranr£ about whether the finanL?al statements as a whole are frea from material misslatemenL whether due to fraud or emr, and to issue an auditorfs report that indudes our opinion. Reasonable assurance is a high level of assurance, bul is not a guarantee Ihat an audit conducted in accordance with ISAS IUKI will always detect a Matal misstatement when it exists. Misslatemenls can arise from fraud or error and are cL)n8idered material rf, indiwdually or in the aggregate, they could reasonably be expected to influencE the economic d8usions of user5 taken on thg baFAs of these fInanal statements. Irregularitie8, including fraud, are instances of non-compllance with laws and regulations. We de&gn proc6dures in line with our responsibilities. o¥Jtlined above, to detect material misstatements in respect of iffeoLtlarities, induding fraud. The extent to which our procedures aro capable of detecting irregularilie8. in(Juding fraud 18 delailecl below.. Enquiry of management and those charged with govemanra about actual and rthntial Siligalion or daims and th8 identtfication of non-e£)mpliance with laws and regulations. Rewewing minutes of meetings of those charged with governan. R&Mewino financial statement disclosures and testtng to supporting 0MentstiOn to asse88 compliance wrth applicable laws anLI regulations_ Auditing the risk of management override of controls, induding testing joumal entries and other adjustments for appropriateness,. and assessing whether the judgements made in Mang accounting estimates are indicativè of a potential bias. Perfoming analytical procedure8 to idénlify any unusual or unexpected relati*Jnship8 that may indicate risks of material misstalemenl due to fraud. Professional 8cepticism in course of the audlt and with audit sampling in matsrial audit areas. Because of the inherent limitations of an audit, there Is 8 rfsk thal we will not detsct all iwularities, induding those leading lo a material misstatement in the finanaal statements or non-compliance with tegulalion. This risk incroases the more that compllance with a law or regulation is removed from the events and transactions reflected ift the finanaal statements. a8 we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding iffegu18rities occurring due to fraud rather than error. as fraud involves intentional Conalment, forgery, collusion, omission or misrepresentation. A further descriptlon of our rèspon8ibilitie8 for the audit of the finanaal ststemerrts 18 lo¢ated on the Financial Reporting Counal's website at www.frc.o .ukla sibilities. This description forms part of our audit¢ls repo Use of our Report Thls report is made solely to the tharitable companYs members, as a body, in acrdance with Cttapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertak&n so that we might state to the charitable company's member8 those matters we are required lo state lo th8m in an auditorfs report and for no other purpose. To the fullest 8Xtent permitted by law. we do not accept or assume responsibility to anyone other than the charitable company and the charitsble companys members as a body. for our audit work, for this repc•r( orfor the ownions we have fom)ed. Kevin Fisher BA FCA CTA (sen)r Statutory Autht For and on behaw of ngston BurrowesAudil Ltd Statutory Auditors 308 Ewell Road Surtiiton Suffey, KT6 7AL 2025
PENSION TRUST FOR CHRISTIAN SCIENCE NURSES ILIMITED BY GUARANTEE) STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDED 30 JUNE 2025 Total Unrestricted nds Total Re8triGted funds Total Funds 2025 Notes Total Funds 2024 Income from: Donations and legacres Investments Othor in(yJme 107,e68 84,195 103.150 210.818 84,195 63 73,528 73,398 Total 19t,926 103.150 295,076 146,926 Expendlture on: Raising funds- Investrnent management fe88 Charitable activities 24,619 105,428 24,619 160,323 19.049 86,602 54,895 Total gxpèndlture 130,047 54.895 184,942 105,651 Net incoming resources e1,879 48,255 110,134 41,275 Net g8ins on invèstments 11 284,667 284,667 357,805 Net Incomg 346,546 48,255 394,801 399,080 Transfers betsve¢n funds 137.8071 37,807 Net movoment in funds 308,739 86,CE2 394,801 399.080 Recon¢lliatlon ¢f funds Fund balances brought fomard 14 3,308,357 16,980 3,325.337 2,926,257 Fund balances carrled forward 14 £3.617,096 £303,042 r3.720.138 £3.325.337 l incomo and eenditUre is derived from conllnuing activities. The Statement of Financial Aclknties includes ajl gain8 and losses recognised in the year. The notes form part of these Fwiarrial Stalaments.
PENSION TRUST FOR CHRISTIAN SCIENCE NURSES IUMITED BY GUARANTEE) BALANCE SHEET AT 30 JUNE 2025 2025 2024 Notes FIXED ASSETS Inveslments 11 3,527,789 3,152,398 CURRENT ASSETS Dèbtors Cash at bank and in hand 12 3,103 198,840 3,015 178,378 202.043 181,393 CREDITORS.. Amounts falling du8 within one year Accruals 9,694 8,454 NET CURRENT ASSETS 192,349 172,939 NET ASSETS 13 £3,720,138 £3.325,337 FUNDS Unrestricted Fund8 Restricted Funds 13 13 3,617,096 103,042 3,308,357 16,980 £3.720.138 £3,325,337 These finarrial statements have been pr8pared in accordanL* with th& speaal provisions of Part 15 of the Companies Act 2008 rBlating lo sm811 companies. Approved by the Board on 2z/ioh- Mithael M rgan Chairman and Tmste8 Signed on behalf of the Board The notes fo part of these FlnaKl81 Ststements. 10
PENSION TRUST FOR CHRISTIAN SCIENCE NURSES {UMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 COMPANY STATUS The charitable cornpany is a private company (No. 00598995}, registered in England and Wales. limited by guarantee and has no share ¢apit81. 11 is a Register Charity. No.. 209226. In the event of a winding-up every memkr of the charitable company is required to contribute to the assets of the charitable company such amount as may be required but nol exceeding £1. The registered Offi of the Charitable company 18 given in the ReferEnce and Admini8trative Infomation. ACCOUNTING POLICIES Basls of prnparatlon The charity constitutes a public benefit entity as defined by FRS 102. The financ4al 8tal8ment8 h8v8 tsen prepared in accordance with Accounting and Reporttng by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in ac£ordance with trte Financial Reporting Standard applicable in th8 UK and Republic of Ir&land IFRS 1021 issued in O(ober 2019, the Finanaal Reporting Standard applicable in the United ngdoM and Republic of Ireland IFRS 102), the Charities Act 2011. the Companies Act 2006 and UK Generally Acceplfjd AcLounting PractirR. The finanrial statements have been prepared ori the going concem b8818 and under the historical cost convention, mOdled to Indude certaln items al fair value. Thè significant accounting policies applied in the preparation of these financial statements are $81 oul below. Those policies have been consistently applied lo all years presented unless otherwse staled. In¢¢>me re¢ognklon Items of income are rocognised in the financial sl#temenls when all of the following critaria are mel.. The Charity has entitlement to the fiJnd$', any performance Gonditions have been met or are fvlly within the control of the chaiitr. there is suffiaent certainty that receipt of the income 18 considered probable,. and the amount can be measured reliabty. Expenditure cOgnItIOn Expendf(ure 18 recognised once there is a legal or construcivo obligation to make payment to 8 third party, it is probablg that settlement will be required and the amount can be measured reliably. Expendhure is dassified under the following a¢tNty headings.. Costs of raising funds which comprise th08e cL)sts a8SOCiated wlh the management of the charitys investments. All such c08ts are charged lo unrestricted funds. Expenditure on charitablè actilI1eS includes the 81S undertaken to further the purposes of the charity and their associated support costs. Fund accounting Unrestrlcted general fvnds are those funds whith are freety available for use in furtheran of the objects of the charity and which have not been designated for specific purposes. Restricted funds are funds which can only be used in accordance with specffic restrictions imp08ed by the donor orwhich hav8 been raised for a particular purpose. 11
PENSION TRUST FOR CHRISTIAN SCIENCE NURSES (LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 20251cont'd... ACCOUNTING POUCIESlconYd.. Flxed assots and depreclatlon Depreciation is provided so as lo writs off the cost of each asset over its estimated usefvl life al the following annual res'. Fixiures and fittings 25% on cost Pensions The tharity Operates a defined conlribLttion pension scheme. Contributions payable under the $cheme are charged to the siatement of Finanoal Activbties in the year lo whith they relate. Investment assets Listed investment8 are wholly regnised at their transactlon value arxf subsequ8nlJy measured at their fair value at the Balance Sh8el date using tha caosing quoted markot price. The Statement of Financial Activities indudes th8 net gains and losses on r&valuations and disposals throughout the year, All such gains and losses are recoglli8ed within unrestricted funds. Debtors and credltors Debtors and creditors with no 8tsted interesl rate and receivabte or payable wlhin one year are recorded ai transaction ptlce. Any losses arsing from impaimients ar8 recognised in expenditu. I)ONATIONS AND LEGACIES Unrestrithd Reslricted Funds Fur$ Totsl 2025 Total 2024 t)onations Legacies 84,668 23,OOQ 103,150 1 B7,818 23,000 72.798 730 £107,668 £103.150 £210.818 £73.528 l of the £73,528 tBcognised in 2024 related to unrestrictsd funds. INVESTMENT INCOME Unrestricted Restricted Funds FLmds Total 2025 Total 2024 Diwidends Interests 72,730 11,465 72,730 11.465 61,315 12,083 £84,195 £Nil £84,195 £73,398 Al of the £73,398 recognised in 2024 related to unrestricted funds. 12
PENSION TRUST FOR CHRISTIAN SCIENCE NURSES (LIMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 20251oonfd.... ExpeNDITURE ON CHARITABLE ACTMTIES Gr8nl funding of activities Support rAJSt Total 2025 Total 2024 Assistsnce grants (Note 6) Salary costs Pension costs Postage sUbtIons orrice costs Travel Govemance (Note 71 Advgrt¢sing 1&5.578 135,S78 17,356 1,253 236 588 1,835 525 2,952 62,971 14,726 1,157 133 71 3.128 539 2,952 925 17,356 1,253 236 588 1,835 525 2.952 £135,578 £24,745 £160,323 £86.602 Of the £160,323 (2024.. £86,602) exp&nditura regnISed in 2025, £105.428 12024.. £67,959) was tharged to unrestiicted funds and £54,895 {2024.' £18,643) to restricted funds. ANALYSIS OF GRANTS 2025 2024 Grants to Indivldu818 £135,578 £62.971 7. GOVERNANCE COSTS 2025 2024 Auditorfs remuneration £2,952 £2,952 NET INCOME Net income forlhe year is stsled after charging.. 2025 2024 Audftorfs remuneration Pension costs (dofined conknbutFon sthemesl £2,952 £1,253 £2,952 £1,157 TRUSTEES REMUNERATION AND EXPENSES The Ilustses neither received nor waived any remunerab.on dtsr£ng the year12024: £Nil). No travelling expenses were reimbursed to the tNstee3 during the current or previous years. 13
PENSION TRUST FOR CHRISTIAN SCIENCE NURSES ILIMITED BY GUARANTEei NOTES TO THE FINANCIAL STATEMEwrs FOR THE YEAR ENDED 30 JUNE 20251corfd.... 10. STAFF COSTS 2025 2024 Salaries Pen&on costs 17.356 1,253 14,726 1,157 £18.609 £15,883 In 2025 the charity employed 1 part-time employee12024- 1) who dealt with tharitable support and adrninistralive duties. The average number of employees was therefore 1 {2024.' 11. No employee reCeid totsl employee benèfits lexciuding 8mployerfs penon costs) amounting to moft than £eo,000 in either year. The total amount of employee benefits received by k8y management personnel was £18,609 {2024'. £15,883). Under FRS 102, employge benefits indude oro88 salary, benefits in kind. employerfs natlOn81 insurance and 8mployerf8 pension costs. 11. FIXED ASSET INVESThIENTS 2025 2024 Fairvalu8 al 1 July tsposals at opening martet value AcqLbisilions at cost Net ullr881ised gains on rèvaluation 3,074,038 {397,9731 452,052 284,667 2.658,084 1790,6471 844,276 362,325 Fairvalue al 30 June Cash held for re-investsnent 3,412,784 115,005 3,074,038 78.360 £3,527,789 £3.152,398 Historical c08t at 30 June £2,717,372 £2.586.468 Fixed Asset Investments represent invastsnent assels listsd on recognised 8toc exchanges. Analysls of Invgstment gains 2025 2024 Unrealised gains on revaluation Reali8e(f gains on disposal 234,020 50,647 288.148 69,657 £284.667 £357,805 14
PENSION TRUST FOR CHRISTIAN SCIENCE NURSES IUMITED BY GUARANTEEI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 20251cont'd.... 12 DEBTORS 2025 2024 Investment InLx)me receivable 3,103 3.015 £3,103 £3,015 11 FUNDS Unrestricted funds Resfricted Funds 2025 Total Bala at 1 JUEY 2024 3.308.357 16.980 3.325.337 Net income 346,546 48,255 394,801 Transfers btheen funds 137,8071 37,807 Balan * 30 June 2025 £3,617,0 £103,042 £3,720,138 A description of the restricted fvnds is set out in the Tru$tee$' Report. Comparative figures for 2024 are as follows: Unr8Stricted funds Reslrtcle(J Funds 2024 Total Balance at 1 July 2023 2,890,634 35,623 2,926,257 Net incomel(expend¢ture) 417,723 118,6431 399,080 Balance at 30 June 2024 £3,308,357 £16,980 £3.325,337 14. ANALYSIS OF NET Assgrs BETWEEN FUNDS Unrestiicted Funds Restricted Funds Total Funds 2026 IniRstments Current assets Current liabilities 3,527,789 99,001 (9,6941 3,527,789 202,043 19.694} 103.042 As at 30 June 2025 £3,617,096 £103,042 £3.720,138 15
PENSION TRUST FOR CHRISTIAN SCIENCE NURSES IUMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 20251confd.... 14. ANALYSIS OF NET ASSETS BETWEEN FUNDS Ind Comparative figu8 2024 were as follows: Unrestricted Funds Restricted Funds Totsl Funds 2024 Investments cuent assets Current liabilities 3,152.398 164,413 {8.4541 3,152,398 181,393 18.4541 16.980 A8 at 30 June 2024 d.308,357 £16,980 £3,325,337 16. TAXATION AS a reglstered tharity, Pension Tru8tfor Christian SaenGo Nurses is exempt from taxation on charitable 8cli711e$. I& RELATED PARTh TRANSACTIONS Thera were no transactions with related parties other than thoso sel out in Note 9.
PENSICIY TRUST FOR CHRISTIAN SCIENCE NURSES IUMITED BY GUARANTEEI INCOME AND EXPENQITURE ACCOUNT FOR THE YEAR ENDED 30 JUNE 2025 2025 2024 INCOME Listed Investments other Interest Retsivable Donation8 and Legaci88 other income 72,730 11,465 210,818 63 61,315 12,083 73,528 295,076 146,926 EXPENSES Assistance Grants 135,578 62.971 Administrative Expenses Wages and Salaries Pension Costs Investment Managers. Fees Auditorfs Remunerab"on Postage Printing and Stationèry Rent and Ratos Bank Charges Miscellaneous Expenses Website Costs Complrter Expenses Insurance Advgrtising Trav81 Subscriptions 17,358 1,253 24,619 2.952 236 14,726 1,157 19,049 2,952 133 476 407 135 378 210 1,750 142 925 539 525 588 49,364 42,680 184,942 105,651 RETAINED SURPLUS ft¢th& Yoar £110,134 £41,275 This page do88 not fonn part of th& statutory financial statements. 17