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2025-08-31-accounts

REGISTERED CHARITY NUMBER: 212439

REPORT OF THE TRUSTEES AND AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

FOR

HYDE PARK PLACE ESTATE CHARITY

Rothmans Audit LLP Statutory Auditors Chartered Accountants Chilworth Point

1 Chilworth Road Southampton Hampshire SO16 7JQ

HYDE PARK PLACE ESTATE CHARITY

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

Page
Report of the Trustees 1 to 4
Report of the Independent Auditors 5 to 7
Statement of Financial Activities 8
Balance Sheet 9
Cash Flow Statement 10
Notes to the Cash Flow Statement 11
Notes to the Financial Statements 12 to 23

HYDE PARK PLACE ESTATE CHARITY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2025

The trustees present their report with the financial statements of the charity for the year ended 31 August 2025. The trustees have adopted the provisions of 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).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The purpose of the Charity, as defined in the Schemes described above, is to pay moieties to the Ecclesiastical and Civil Trustees from net income, deriving from the endowment of the charity from land in Paddington which had been bought by the Rectors and Churchwardens of St George' s, Hanover Square in 1769 for laying out as a burial ground. The moiety paid to the Ecclesiastical Trustees is applied, after certain fixed payments to the Rector and Churchwardens of the Parish Church, towards the preservation and maintenance of the district churches which had been carved out of the original parish, in discretionary gifts to the clergy of such churches, or for any ecclesiastical purpose within the said district.

The moiety paid to the Civil Trustees is to be applied for the benefit of persons in the London Borough of The City of Westminster in the relief of need, in relief of sickness or for advancement of life.

The Trustees confirm that they have had due regard to the guidance on public benefit issued by the Charity Commission when planning the charity's objectives and activities for the year.

Significant activities

The charity makes grants to institutions and applications are invited and reviewed against specific criteria, as well as the objects of the charity, to determine whether a grant should be made. The use of grants is monitored through reports back from those receiving grants.

The beneficiaries of the Ecclesiastical Charity, namely the district churches, clergy and other ecclesiastical organisations within the old historic parish of St George's Hanover Square, are kept informed of the grant making facilities available. The Civil Charity, which exists to support the people and organisations within the City of Westminster, is listed in a number of charity directories, and information is available on our website. The charity has on-going relations with a number of organisations in the City of Westminster, including City of Westminster Social Services, St John's Hospice, Age UK Westminster, Family Lives, Home-Start Westminster, Octavia Housing and Single Homeless Project. Applications are invited from all these organisations, and grants are made on a regular basis.

ACHIEVEMENTS AND PERFORMANCE

Charitable activities

Civil Trustees

During the year, total grants of £229,493 were made by Civil Trustees (2024: £295,587) to be applied for the benefit of residents of the London Borough of the City of Westminster. The Charity has enjoyed very positive feedback from the beneficiaries during the year. These grants were paid from receipts which totalled £203,774 (2024: £215,202) during the year. The fund balance at the end of the year was £473,938 (2024: £508,214).

Ecclesiastical Trustees

During the year, total distributions of £277,020 were made by the Ecclesiastical Trustees (2024: £246,880) to be applied for the benefit of the district churches and their clergy, subsequent to fixed payments to the Rector and Churchwardens of St George's, Hanover Square, as stipulated under the terms of the Schemes. These were paid from moiety transfers of £180,750 (2024: £188,700) and net income of £156,444 (2024: £154,131). The fund balance at the end of the year was £220,194 for the General fund and £943,478 for the Pension Fund (2024: £183,259 and £952,202 respectively).

Rector and Churchwardens' Fund

The excess of expenditure over income for the year was £9,850 (2024: £1,793 surplus). Moieties totalling £361,500 (2024: £377,400) were paid to Ecclesiastical and Civil Trustees during the year. The balance at the end of the year was £187,585 (2024: £197,434).

Land values

The trustees consider that it is impracticable to ascertain the market values of its freehold property, as it is held on long leasehold and it is therefore shown at £nil value. Occasionally properties are sold and therefore market value can be ascertained for that particular property. Once this is available the property is recognised at market value.

Page 1

HYDE PARK PLACE ESTATE CHARITY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2025

FINANCIAL REVIEW

Financial position

The charity derives the vast majority of its ongoing income from its listed investments, and also charges ground rent on the property 21 Hyde Park Place.

As at 31 August 2025, the charity held £1,825,195 of restricted funds and £18,205,362 of endowment funds.

Investment policy and objectives

The Trustees' policy is to maintain income whilst preserving the real value of endowment funds. The funds are invested, as permitted by the scheme approved by order of the Chancery Division dated 7th May 1914 as varied by orders of the Charity Commission dated 4th July 1968 and 6th July 1989, as quoted investments managed by Rathbones Investment Managers.

Risks

The major risks facing the charity and mitigating actions are: ~ Destruction of premises housing the Charity -risk mitigated by alarm system, off-site data back up and insurance policy.

~ Staff safety issues are dealt with by vigilance, CCTV surveillance and access control. Remaining lesser risks and remedial steps are detailed in a risk register referred to overleaf.

Reserves policy

The charity has no 'free' reserves as all the funds are restricted and have to be distributed in accordance with the laid down criteria. A reserves policy as such is therefore inappropriate.

FUTURE PLANS

The Trustees plan to continue to operate the charity in accordance with the governing documentation, and will look to explore any new investment vehicles that may increase the income available, whilst securing the charity's capital assets over the medium term. It is not expected that any pension will be payable from the Ecclesiastical Trustees Pension Fund in the next couple of years. The Trustees will therefore seek to invest the income received to date in a long term investment vehicle, offering the potential for greater returns, until the funds are deemed necessary.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity was established under a Scheme approved by order of the Chancery Division dated 7th May 1914 as varied by Schemes of the Charity Commission dated 4th July 1968 and 6th July 1989. Charity number: 212439.

Recruitment and appointment of new trustees

Primary charity trustees

These are the Rector and Churchwardens ex officio, all appointed by the Parochial Church Council of St George's, Hanover Square.

Ecclesiastical Trustees

These are the Rector and Churchwardens ex officio and two other persons, all appointed by the Parochial Church Council of St George' s, Hanover Square.

Civil Trustees

These are the Rector and Churchwardens ex officio and five other persons, all appointed by Westminster City Council.

New Trustees undergo an induction to brief them on their legal obligations under charity law, the content of the Schemes and the decision-making processes of the Charity. They meet key members of the management and other Trustees.

Organisational structure

The Ecclesiastical Trustees meet twice yearly to discuss income allocations and other requests for financial assistance brought by the clergy of the district churches which were carved out of the original Parish.

The Civil Trustees meet four times a year to discuss grant applications and other requests for financial assistance from residents of the London Borough of the City of Westminster.

In each case, the Clerk to the Trustees has been appointed to manage the day-to-day operations of the Charity, which include finance and other operations in the support of the Charity's objects.

Page 2

HYDE PARK PLACE ESTATE CHARITY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2025

STRUCTURE, GOVERNANCE AND MANAGEMENT

Key management remuneration

The key management personnel of the charity are in charge of directing, controlling, running and operating the charity on a day to day basis. As such they are considered to be the following:

~ The Trustees

~ The Clerk

All Trustees give of their time freely and no Trustee received any remuneration in the year, except as set out in Note 10.

Related parties

St George's Church, Hanover Square with The Grosvenor Chapel, South Audley Street is a charity with the responsibility of co-operating with the incumbent, The Revd. Roderick Leece and the Priest-in-charge of the Grosvenor Chapel, The Revd. Stephen Coleman (appointed 12th November 2023), in promoting within and beyond the ecclesiastical parish the whole mission of the Church: spiritual, pastoral, social and ecumenical. It also has responsibilities for maintaining the Church of St George, Hanover Square and the Grosvenor Chapel, South Audley Street. The Church Rector Revd. Roderick N S Leece, Mr M A Hewitt and Mr G Barnes, members of the Church PCC, are Trustees of this charity. The Church receives grant funding and loans from this charity.

St George's Hanover Square Foundation is a charity set up to support the repair and maintenance of the fabric and facilities of St George's Church, Hanover Square. The Rector, Revd. Roderick N S Leece, Mr G Barnes and Mr M Hewitt, are Trustees of this charity. The charity makes grants to St George's Hanover Square Foundation.

Details of transactions taking place with related parties, are shown in notes 10 and 18 to the financial statements.

Risk management

A risk management programme is in place and, where appropriate, systems or procedures are established to mitigate any risks the charity might face. These procedures, along with the Risk Register, are regularly reviewed to ensure that they continue to meet the needs of the charity.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number

212439

Principal address

The Vestry 2a Mill Street London W1S 1FX

Trustees

Mr G E Barnes Mr M A Hewitt Rev R N S Leece

In addition to the primary trustees shown above, the following are trustees of each of the linked charities:

Ecclesiastical: Mr M A Hewitt Revd R N S Leece Mr S Roberts Mr A Jones Mr G Barnes

Civil: Mr M A Hewitt Mrs Lillian Ibbett Revd R N S Leece Mrs J Prendergast Mrs H Acton Mrs A Larkey Mr G Barnes Cllr Mark Shearer

Page 3

HYDE PARK PLACE ESTATE CHARITY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2025

REFERENCE AND ADMINISTRATIVE DETAILS

Auditors

Rothmans Audit LLP Statutory Auditors Chartered Accountants Chilworth Point 1 Chilworth Road Southampton Hampshire SO16 7JQ

Clerk to the Trustees

Ms Y Eddy

Bankers

The Royal Bank of Scotland London Drummonds (D) Branch 49 Charing Cross London SW1A 2DX

Investment managers

Rathbones 8 Finsbury Circus London EC2M TAZ

CCLA Investment Management Limited One Angel Lane London EC4R 3AB

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Charity law requires the trustees to prepare financial statements for each financial year. Under that law, the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law).

Under charity law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011 and The Charity (Accounts and Reports) Regulations 2008. 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.

Approved by order of the board of trustees on 23rd June 2026 and signed on its behalf by:

........................................................................ Mr M A Hewitt - Trustee

Page 4

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF HYDE PARK PLACE ESTATE CHARITY

Opinion

We have audited the financial statements of Hyde Park Place Estate Charity ('the charity') for the year ended 31 August 2025 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

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 charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'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.

Other information

The other information comprises the information included in the annual report, including the Report of the Trustees, other than the financial statements and our auditor's 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

In the light of the knowledge and understanding of the charity and its environment obtained 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 Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

Page 5

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF HYDE PARK PLACE ESTATE CHARITY

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 the 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.

Our responsibilities for the audit of the financial statements

We have been appointed as auditors 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 auditor's 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.

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:

Our approach was as follows:

We identified the greatest risk of material impact on the financial statements from irregularities, including fraud, to be within the recognition of income and the override of controls by management. To address the risk of fraud in these areas, we:

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

Page 6

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF HYDE PARK PLACE ESTATE CHARITY

Rothmans Audit LLP is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

Use of our report

This report is made solely to the charity's 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 charity's 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 the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Rothmans Audit LLP Statutory Auditors Chartered Accountants Chilworth Point 1 Chilworth Road Southampton Hampshire SO16 7JQ

25 June 2026 Date: .............................................

Page 7

HYDE PARK PLACE ESTATE CHARITY

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2025

Unrestricted
fund
Notes
£
INCOME AND ENDOWMENTS
FROM
Donations and legacies
2
-
Investment income
3
-
Total
-
EXPENDITURE ON
Raising funds
4
-
Charitable activities
5
Payments to incumbents
-
Payments to assistant clergy
-
Moieties to Rector and Church
wardens of St George's Church
-
Maintenance of churches in the
historic ecclesiastical parish
-
Providing relief for those in need
or sickness and the
advancement of life
-
Total
-
Net gains/(losses) on
investments
-
NET INCOME/(EXPENDITURE)
-
RECONCILIATION OF FUNDS
Total funds brought forward
-
TOTAL FUNDS CARRIED
FORWARD
-		 Restricted
funds
£
-
543,686
543,686
-
75,184
28,548
111,291
43,838
267,884
526,745
(32,855)
(15,914)
1,841,109
1,825,195		 Endowment
funds
£
-
-
-
59,587
-
-
-
-
-
59,587
206,296
146,709
18,058,653
18,205,362		 2025
Total
funds
£
-
543,686
543,686
59,587
75,184
28,548
111,291
43,838
267,884
586,332
173,441
130,795
19,899,762
20,030,557		 2024
Total
funds
£
1,000
569,349
570,349
55,852
54,337
22,888
113,338
40,022
334,273
620,710
1,674,376
1,624,015
18,275,747
19,899,762

The notes form part of these financial statements

Page 8

HYDE PARK PLACE ESTATE CHARITY

BALANCE SHEET 31 AUGUST 2025

Notes
FIXED ASSETS
Investments
12
CURRENT ASSETS
Debtors
13
Cash at bank
CREDITORS
Amounts falling due within one year
14
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
NET ASSETS
FUNDS
17
Restricted funds:
Rector & Churchwardens Endowment Income
Fund
Ecclesiastical Trustees - General fund
Ecclesiastical Trustees - Pension fund income
Civil Trustees
Endowment funds:
Rector and Churchwardens Endowment Capital
Fund
Ecclesiastical Trustees - Burial fund
Ecclesiastical Trustees - Trinity
TOTAL FUNDS		 2025
£
18,526,995
610,195
935,192
1,545,387
(41,825)
1,503,562
20,030,557
20,030,557
187,585
220,194
943,478
473,938
1,825,195
13,531,860
3,682,888
990,614
18,205,362
20,030,557		 2024
£
18,491,166
522,304
936,903
1,459,207
(50,611)
1,408,596
19,899,762
19,899,762
197,434
183,259
952,202
508,214
1,841,109
13,250,169
3,787,264
1,021,220
18,058,653
19,899,762

The financial statements were approved by the Board of Trustees and authorised for issue on 23rd June 2026 and were signed on its behalf by:

............................................. Mr M A Hewitt - Trustee

The notes form part of these financial statements

Page 9

HYDE PARK PLACE ESTATE CHARITY

CASH FLOW STATEMENT FOR THE YEAR ENDED 31 AUGUST 2025

Notes
Cash flows from operating activities
Cash generated from operations
1
Net cash used in operating activities
Cash flows from investing activities
Purchase of fixed asset investments
Sale of fixed asset investments
Cash movements on investment portfolio
Interest received
Dividends received
Net cash provided by investing activities
Cash flows from financing activities
Expenditure attributable to endowment
Net cash used in financing activities
Change in cash and cash equivalents in
the reporting period
Cash and cash equivalents at the
beginning of the reporting period
Cash and cash equivalents at the end of
the reporting period		 2025
£
(620,221)
(620,221)
(828,218)
986,078
(20,249)
23,422
517,064
678,097
(59,587)
(59,587)
(1,711)
936,903
935,192		 2024
£
(690,770)
(690,770)
(2,930,496)
2,953,857
144,574
26,393
536,250
730,578
(55,852)
(55,852)
(16,044)
952,947
936,903

The notes form part of these financial statements

Page 10

HYDE PARK PLACE ESTATE CHARITY

NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 AUGUST 2025

1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
2025 2024
£ £
Net income for the reporting period (as per the Statement of Financial
Activities) 130,795 1,624,015
Adjustments for:
Gain on investments (173,441) (1,674,376)
Interest received (23,422) (26,393)
Dividends received (517,064) (536,250)
Expenditure attributable to endowment 59,587 55,852
Increase in debtors (87,889) (125,642)
Decrease in creditors (8,787) (7,976)
Net cash used in operations (620,221) (690,770)

2.

ANALYSIS OF CHANGES IN NET FUNDS
At 1.9.24 Cash flow At 31.8.25
£ £ £
Net cash
Cash at bank 936,903 (1,711) 935,192
936,903 (1,711) 935,192
Total 936,903 (1,711) 935,192

The notes form part of these financial statements

Page 11

HYDE PARK PLACE ESTATE CHARITY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

1. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS

The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value.

The financial statements are prepared in Sterling which is the functional and presentation currency of the charity. The financial statements are prepared to the nearest pound.

GOING CONCERN

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.

LINKED CHARITIES

Included in these financial statements are the primary charity, the Civil Charity (charity number: 212439-1) and the Ecclesiastical Charity (charity number: 212439-2). See notes 16 and 17 for more details.

CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

There are no significant estimates affecting these accounts.

There are no significant judgements which affect the amounts recognised in the financial statements. With respect to the next reporting period, the most significant area of uncertainty that affects the carrying value of assets held by the charity are the level of investment return and the performance of investments.

INCOME

All incoming resources are included in the Statement of Financial Activities when the charity is legally entitled to the income, the receipt of such income is probable and the amount can be measured with sufficient accuracy.

Donations and other voluntary income represent donations and are recognised when the charity is entitled to receive the donation.

Investment income represents interest from cash held, income from listed investments and rents received. Interest receivable, dividend and other investment income is recognised on an accruals basis.

EXPENDITURE

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

RAISING FUNDS

This relates to investment management charges.

CHARITABLE ACTIVITIES

Charitable expenditure is expenditure of the charity to fulfil its objects.

Grants and moiety payments are accounted for when paid or awarded, if that award creates a binding obligation on the charity.

It also includes the grants paid to cover the cost of repairs to properties and other sundry expenses.

TAXATION

The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable trust for UK income tax purposes. Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Part 10 Income Tax Act 2007 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

Page 12

continued...

HYDE PARK PLACE ESTATE CHARITY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2025

1. ACCOUNTING POLICIES - continued

TAXATION

The Charity’s activities are exempt from VAT and accordingly irrecoverable VAT is charged to the Statement of Financial Activities when incurred and included within the expenditure category to which it relates or capitalised under tangible fixed assets if relating to capital expenditure.

FUND ACCOUNTING

The charity consists of a number of endowment and restricted funds, as described in note 18 to the accounts. Income generated by the investments is allocated to the relevant restricted fund and spent accordingly. Transfers are made as required by the original scheme to the Ecclesiastical and Civil linked charities.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS

The charity has committed to paying a pension of £10,000 per annum to the rector on his retirement. No provision has been made in the financial statements because the amount is immaterial.

INVESTMENT PROPERTY

The trustees consider that it is impracticable to accurately ascertain the market values of its freehold property, as it is held on a long leasehold. This property is therefore carried in the accounts at £nil value, and should the property be sold any proceeds arising from the sale would be recognised in the Statement of Financial Activities at that time. The estimated value of the property is not material to these financial statements.

INVESTMENTS

Investments are shown in the balance sheet at the fair value at that date. Realised gains or losses on disposal of investments are calculated by reference to the last year end market value or acquisition cost if later. Realised and unrealised gains or losses are accounted for through the Statement of Financial Activities for the year.

DEBTORS

Amounts receivable and other debtors are included at the settlement amount due. Prepayments are valued at the amount prepaid.

CASH AT BANK AND IN HAND

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

CREDITORS AND PROVISIONS

Creditors and provisions are recognised where the charity has a present obligation arising 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. Creditors and provisions are recognised at their settlement amount.

FINANCIAL INSTRUMENTS

The charity only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

2. DONATIONS AND LEGACIES

2025 2024
Unrestricted Restricted Endowment Total Total
funds funds funds funds funds
£ £ £ £ £
Grants
-		 - - - 1,000
Grants received, included in the above, are as follows:
2025 2024
£ £
Charity of Matthew Tomlinson - 1,000

This amount was received from a charity under common control. There are no restrictions other than that it be applied to the charitable objectives of the Civil Charity.

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continued...

HYDE PARK PLACE ESTATE CHARITY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2025

3. INVESTMENT INCOME

Unrestricted
Restricted
Endowment
funds
funds
funds
£
£
£
Rents received
-
3,200
-
Investment income
-
517,064
-
Deposit account interest
-
23,422
-
-
543,686
-
4.
RAISING FUNDS
INVESTMENT MANAGEMENT COSTS
Unrestricted
Restricted
Endowment
funds
funds
funds
£
£
£
Portfolio management
-
-
59,587
5.
CHARITABLE ACTIVITIES COSTS
Grant
funding of
Direct
activities
Costs (see
(see note
note 6)
7)
£
£
Payments to incumbents
73,160
-
Payments to assistant clergy
26,525
-
Moieties to Rector and Church wardens
of St George's Church
109,269
-
Maintenance of churches in the historic
ecclesiastical parish
41,816
-
Providing relief for those in need or
sickness and the advancement of life
-
255,743
250,770
255,743
6.
DIRECT COSTS OF CHARITABLE ACTIVITIES
Payments to incumbents
Payments to assistant clergy
Moieties to Rector and Churchwardens of St George's Church
Payments for maintenance of St George's Church		 2025
Total
funds
£
3,200
517,064
23,422
543,686
2025
Total
funds
£
59,587
Support
costs (see
note 8)
£
2,024
2,023
2,022
2,022
12,141
20,232
2025
£
73,160
26,525
109,269
41,816
250,770		 2024
Total
funds
£
3,200
539,756
26,393		 2024
Total
funds
£
3,200
539,756
26,393
569,349
2024
Total
funds
£
55,852
Totals
£
75,184
28,548
111,291
43,838
267,884		 2024
Total
funds
£
55,852
526,745
2024
£
52,100
20,650
111,098
37,782
221,630

As described in note 10, Revd R N S Leece is entitled to receive moieties from the charity in line with the terms of the scheme, as Rector of St George's Church. These payments are processed through the charity's payroll.

2025 2024
£ £
Wages and salaries 39,576 49,732
Social security costs - -
39,576 49,732
The average number of employees during the year was as follows:
2025 2024
1 1

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HYDE PARK PLACE ESTATE CHARITY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2025

6. DIRECT COSTS OF CHARITABLE ACTIVITIES - continued

No employees received emoluments in excess of £60,000.

7. GRANTS PAYABLE

Providing relief for those in need or sickness and the advancement of life

2025 2024 £ £ 255,743 320,839

Page 15

continued...

HYDE PARK PLACE ESTATE CHARITY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2025

7. GRANTS PAYABLE - continued

The total grants paid to institutions during the year was as follows:

GRANTS PAYABLE - continued
The total grants paid to institutions during the year was as follows:
2025 2024
£ £
Adventure Play Hub 5,000 5,000
Age UK Westminster 6,000 6,000
All Souls STC 6,000 -
AllChild (formerly West London Zone) 6,000 -
BookTrust 6,000 6,000
Cardinal Hume Centre 6,000 6,000
Central London Samaritans - 6,000
Church Homeless Trust - 6,000
Community Safety Education 3,000 1,500
Concrete Youth 2,000 -
Create 5,000 5,251
Depaul UK 6,000 6,000
Dream Arts - 6,000
Encouragement Through the Arts and Talking (ETAT) - 6,000
English National Opera - 6,000
FareShare 6,000 6,000
Foundation for Young Musicians 6,000 5,000
Friends of the Elderly - 3,000
Future Frontiers 6,000 -
Groundswell 6,000 6,000
Hampden Gurney School - 6,000
InterAct Stroke Support 2,050 -
Listening Books 6,000 4,500
Local Village Network - 5,000
London Firebird Orchestra - 2,000
London Handel Society 2,550 -
London Music Fund 6,000 6,000
Lumi Foundation - 2,500
Macmillan Cancer Support - 5,000
Marylebone Project 6,000 6,000
Mayfair Community Choir 3,500 3,000
MND Association 4,000 6,000
North Paddington Youth Club 5,810 6,000
Octavia Foundation 6,000 5,000
Open Age - 6,000
Pimlico Musical Foundation - 6,000
Royal Trinity Hospice 6,000 6,000
Shelter - 6,000
St Andrew's Club - 6,000
St George's Hanover Square 36,160 27,136
St George's School - 29,500
St John's Hospice 6,000 -
St Mungo's 6,000 5,000
St Vincent Family Project - 6,000
Streetwise Opera 5,000 -
Strides (formerly West London Mission) 6,000 -
The Avenues Youth Project - 6,000
The Connection at St Martin's 6,000 -
The Food Chain 5,000 -
The Mosaic Community Trust 6,000 6,000
The Nucleo Project 5,000 -
The Passage 5,000 -
The Prince's Trust 6,000 6,000
Theodora Children's Charity 2,843 2,896
Unfold 5,818 -
University of Westminster 6,000 6,000
West End Community Trust - 3,360
West London Mission - 6,000
West London Zone - 5,000
Westbourne Park Family Centre 6,000 5,000
Woman's Trust 6,000 6,000
Westminster Boating Base - 5,890
Westside Community Foundation 5,000 5,000
Zacchaeus 2000 Trust (Z2K) 6,000 6,000

Page 16

continued...

HYDE PARK PLACE ESTATE CHARITY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2025

7. GRANTS PAYABLE - continued

Other Grants

3,012
255,743		 11,306
320,839

All grants paid relate to the same charitable activity, being to provide relief for those in need or sickness and the advancement of life.

8. SUPPORT COSTS

SUPPORT COSTS
Management
£
Payments to incumbents
934
Payments to assistant clergy
933
Moieties to Rector and Church wardens of St
George's Church
933
Maintenance of churches in the historic
ecclesiastical parish
933
Providing relief for those in need or sickness
and the advancement of life
5,603
9,336		 Governance
Finance
costs
£
£
2
1,088
2
1,088
2
1,087
2
1,087
13
6,525
21
10,875		 Totals
£
2,024
2,023
2,022
2,022
12,141
20,232
Activity Basis of allocation
Management These costs are allocated as described below.
Finance These costs are allocated as described below.
Governance costs These costs are allocated as described below.
Charitable activity Split
Payments to incumbents 10%
Payments to assistant clergy 10%
Moieties to Rector and Church wardens of St George's Church 10%
Payments for maintenance of St George's Church 10%
Providing relief for those in need or sickness and the advancement of life 60%

Support costs, included in the above, are as follows:

Support costs, included in the above, are as follows:
Moieties
to Rector
and
Church
Payments wardens
Payments to of St
to assistant George's
incumbents clergy Church
£ £ £
Insurance 62 62 62
Secretarial expenses 727 727 727
Accountancy 145 144 144
Bank charges 2 2 2
Auditors' remuneration 831 831 830
Auditors' remuneration for non audit work 257 257 257
2,024 2,023 2,022

Page 17

continued...

HYDE PARK PLACE ESTATE CHARITY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2025

8. SUPPORT COSTS - continued

8. SUPPORT COSTS - continued
2025 2024
Providing
relief
Maintenance for those
of in need
churches or
in the sickness
historic and the
ecclesiastical advancement Total Total
parish of life activities activities
£ £ £ £
Insurance 62 373 621 621
Secretarial expenses 727 4,364 7,272 7,918
Accountancy 144 866 1,443 3,266
Bank charges 2 13 21 26
Auditors' remuneration 830 4,982 8,304 8,062
Auditors' remuneration for non audit work 257 1,543 2,571 2,496
2,022 12,141 20,232 22,389
9. AUDITORS' REMUNERATION
2025 2024
£ £
Fees payable to the charity's auditors for the audit of the charity's financial
statements 8,304 8,062
Auditors' remuneration for non audit work 2,571 2,496
Total fees payable 10,875 10,558

10. TRUSTEES' REMUNERATION AND BENEFITS

As the incumbent of St George's Church, Hanover Square, Revd R N S Leece is entitled to receive moieties of £39,576 (2024: £50,362) and grants of £8,500 (2024: £8,500) as stipulated under the terms of the Schemes. During the year social security costs of £nil (2024: £nil) were paid.

TRUSTEES' EXPENSES

During the year £nil (2024: £nil) was reimbursed.

11.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
Restricted
fund
funds
£
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
-
1,000
Investment income
-
569,349
Total
-
570,349
EXPENDITURE ON
Raising funds
-
-
Charitable activities
Payments to incumbents
-
54,337
Payments to assistant clergy
-
22,888
Moieties to Rector and Church wardens of St
George's Church
-
113,338
Maintenance of churches in the historic
ecclesiastical parish
-
40,022		 Endowment
funds
£
-
-
-
55,852
-
-
-
-		 Total
funds
£
1,000
569,349
570,349
55,852
54,337
22,888
113,338
40,022

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continued...

HYDE PARK PLACE ESTATE CHARITY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2025

11.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted
Restricted
Endowment
fund
funds
funds
£
£
£
Providing relief for those in need or sickness
and the advancement of life
-
334,273
-
Total
-
564,858
55,852
Net gains on investments
-
99,184
1,575,192
NET INCOME
-
104,675
1,519,340
RECONCILIATION OF FUNDS
Total funds brought forward
-
1,736,434
16,539,313
TOTAL FUNDS CARRIED FORWARD
-
1,841,109
18,058,653
12.
FIXED ASSET INVESTMENTS
Listed
Cash
investments
investments
£
£
MARKET VALUE
At 1 September 2024
18,483,884
7,282
Additions
828,218
-
Disposals
(1,151,541)
-
Revaluations
173,441
-
Net movement of funds
185,365
346
At 31 August 2025
18,519,367
7,628
NET BOOK VALUE
At 31 August 2025
18,519,367
7,628
At 31 August 2024
18,483,884
7,282		 11.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted
Restricted
Endowment
fund
funds
funds
£
£
£
Providing relief for those in need or sickness
and the advancement of life
-
334,273
-
Total
-
564,858
55,852
Net gains on investments
-
99,184
1,575,192
NET INCOME
-
104,675
1,519,340
RECONCILIATION OF FUNDS
Total funds brought forward
-
1,736,434
16,539,313
TOTAL FUNDS CARRIED FORWARD
-
1,841,109
18,058,653
12.
FIXED ASSET INVESTMENTS
Listed
Cash
investments
investments
£
£
MARKET VALUE
At 1 September 2024
18,483,884
7,282
Additions
828,218
-
Disposals
(1,151,541)
-
Revaluations
173,441
-
Net movement of funds
185,365
346
At 31 August 2025
18,519,367
7,628
NET BOOK VALUE
At 31 August 2025
18,519,367
7,628
At 31 August 2024
18,483,884
7,282		 Total
funds
£
334,273
620,710
1,674,376
1,624,015
18,275,747
19,899,762
Totals
£
18,491,166
828,218
(1,151,541)
173,441
185,711
18,526,995
18,526,995
18,491,166

An amount of £5,715,514 (2024: £5,678,649) of the listed investments were held outside of the UK.

The historic cost of the listed investments as at 31 August 2025 was £11,377,869.

13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Other debtors
PCC loan
Accrued income		 2025
£
1,269
487,530
121,396
610,195		 2024
£
-
388,907
133,397
522,304

Not included in the above is an amount of £286,074 (2024: £277,582) owed to the primary charity by the Ecclesiastical and Civil charities, nor £nil (2024: £6,082) owed to the Ecclesiastical and Civil charities by the primary charity.

Page 19

continued...

HYDE PARK PLACE ESTATE CHARITY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2025

14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Other creditors

2025 2024
£ £
41,825 50,611

Not included in the above are two amounts of £141,388 and £144,685 owed by the Ecclesiastical and Civil charities respectively (2024: £138,791 by both), to the primary charity, nor £nil (2024: £6,082) owed by the primary charity to the Ecclesiastical and Civil charities.

15. SECURED DEBTS

Hyde Park Place Estate Charity has two loans totalling £649,682 (2024: £2,155,130) outstanding with Rathbones Investment, secured against their listed investment portfolio.

However, the charity acted as an agent in arranging these for SGHS Enterprises Limited, the trading subsidiary of The PCC, a charity under common control. As such, they are not included as either an asset or liability in these financial statements.

An amount is included in debtors in respect of interest paid by the charity, not yet reimbursed by The PCC. This amount is repayable in demand and no further interest has been charged on this balance.

16. ANALYSIS OF NET ASSETS BETWEEN FUNDS

2025 2024
Unrestricted Restricted Endowment Total Total
fund fund fund funds funds
£ £ £ £ £
Investments - 1,076,669 17,450,327 18,526,996 18,491,166
Current assets - 1,057,856 487,529 1,545,385 1,459,207
Fund balances - (277,582) 277,582 - -
Current liabilities - (31,749) (10,075) (41,824) (50,611)
- 1,825,194 18,205,363 20,030,557 19,899,762

The split of net assets between the linked charities is as follows:

Rector and 2025 2024
Church Ecclesiastical Civil Total Total
Wardens funds funds
£ £ £ £ £
Investments 12,776,824 5,624,609 123,563 18,526,996 18,491,166
Current assets 678,542 373,784 493,060 1,545,385 1,459,207
Linked charity balances 286,074 (141,388) (144,685) - -
Current liabilities (21,995) (19,830) - (41,824) (50,611)
13,719,445 5,837,174 473,938 20,030,557 19,899,762

Page 20

continued...

HYDE PARK PLACE ESTATE CHARITY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2025

17. MOVEMENT IN FUNDS

At 1.9.24
£
Restricted funds
Rector & Churchwardens Endowment
Income Fund
197,434
Ecclesiastical Trustees - General fund
183,259
Ecclesiastical Trustees - Pension fund
income
952,202
Civil Trustees
508,214
1,841,109
Endowment funds
Rector and Churchwardens Endowment
Capital Fund
13,250,169
Ecclesiastical Trustees - Burial fund
3,787,264
Ecclesiastical Trustees - Trinity
1,021,220
18,058,653
TOTAL FUNDS
19,899,762
Net movement in funds, included in the above are as follows:
Incoming
resources
£
Restricted funds
Rector & Churchwardens Endowment
Income Fund
364,218
Ecclesiastical Trustees - General fund
156,444
Ecclesiastical Trustees - Pension fund
income
-
Civil Trustees
23,024
543,686
Endowment funds
Rector and Churchwardens Endowment
Capital Fund
-
Ecclesiastical Trustees - Burial fund
-
Ecclesiastical Trustees - Trinity
-
-
TOTAL FUNDS
543,686		 Net
movement
in funds
£
351,651
(143,815)
(8,724)
(215,026)
(15,914)
281,691
(104,376)
(30,606)
146,709
130,795
Resources
expended
£
(12,568)
(280,007)
-
(234,170)
(526,745)
(59,587)
-
-
(59,587)
(586,332)		 Transfers
between
funds
£
(361,500)
180,750
-
180,750
-
-
-
-
-
-
Gains and
losses
£
1
(20,252)
(8,724)
(3,880)
(32,855)
341,278
(104,376)
(30,606)
206,296
173,441		 At
31.8.25
£
187,585
220,194
943,478
473,938
1,825,195
13,531,860
3,682,888
990,614
18,205,362
20,030,557
Movement
in funds
£
351,651
(143,815)
(8,724)
(215,026)
(15,914)
281,691
(104,376)
(30,606)
146,709
130,795

Page 21

continued...

HYDE PARK PLACE ESTATE CHARITY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2025

17. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Restricted funds
Rector & Churchwardens Endowment
Income Fund
Ecclesiastical Trustees - General fund
Ecclesiastical Trustees - Pension fund
income
Civil Trustees
Endowment funds
Rector and Churchwardens Endowment
Capital Fund
Ecclesiastical Trustees - Burial fund
Ecclesiastical Trustees - Trinity
TOTAL FUNDS		 At 1.9.23
£
199,227
110,019
844,900
582,288
1,736,434
12,128,262
3,479,819
931,232
16,539,313
18,275,747		 Net
movement
in funds
£
375,607
(115,460)
107,302
(262,774)
104,675
1,121,907
307,445
89,988
1,519,340
1,624,015		 Transfers
between
funds
£
(377,400)
188,700
-
188,700
-
-
-
-
-
-		 At
31.8.24
£
197,434
183,259
952,202
508,214
1,841,109
13,250,169
3,787,264
1,021,220
18,058,653
19,899,762

Comparative net movement in funds, included in the above are as follows:

Restricted funds
Rector & Churchwardens Endowment
Income Fund
Ecclesiastical Trustees - General fund
Ecclesiastical Trustees - Pension fund
income
Civil Trustees
Endowment funds
Rector and Churchwardens Endowment
Capital Fund
Ecclesiastical Trustees - Burial fund
Ecclesiastical Trustees - Trinity
TOTAL FUNDS		 Incoming
resources
£
389,715
134,609
19,523
26,502
570,349
-
-
-
-
570,349		 Resources
expended
£
(14,108)
(250,068)
-
(300,682)
(564,858)
(55,852)
-
-
(55,852)
(620,710)		 Gains and
losses
£
-
(1)
87,779
11,406
99,184
1,177,759
307,445
89,988
1,575,192
1,674,376		 Movement
in funds
£
375,607
(115,460)
107,302
(262,774)
104,675
1,121,907
307,445
89,988
1,519,340
1,624,015

Endowment funds

The Rector and Church Wardens endowment fund represents those investments which must be held permanently by the charity. It is the net income received by the Rector and Churchwardens of St George' s, Hanover Square, from land in Paddington which had been bought by them in 1769 for laying out as a burial ground. It is regulated by order of the Chancery Division dated 7th May 1914 as varied by the Charity Commission Orders dated 4th July 1968 and 6th July 1989. Any capital gains and losses arising on the investments form part of the fund. Investment management charges and legal advice relating to the fund are charged against the fund.

The scheme requires the distribution of the income which is restricted by way of one moiety or half of the income to be paid to the Ecclesiastical Trustees of the Charity and the other moiety to the Civil Trustees.

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HYDE PARK PLACE ESTATE CHARITY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2025

17. MOVEMENT IN FUNDS - continued

The Burial Ground endowment fund represents the charity's share of the proceeds of the sale of the remaining land in 1967, following the 1964 Act of Parliament. The income is combined with the above and goes directly to the Ecclesiastical General fund. The fund balance is expendable, but restricted to the Ecclesiastical purposes as detailed above.

The Trinity endowment fund represents the remaining funds of the Trinity Chapel Site Charity, which was appropriated by the charity in 1989. The income is combined with the above and goes directly to the Ecclesiastical general fund. Of the fund balance, 44.25% is a permanent endowment, and 55.75% is expendable, but restricted to the Ecclesiastical purposes as detailed above.

Restricted funds

The Rector and Church Wardens income fund receives income from the endowment fund, and once allowance is made for general governance costs, distributes a moiety to the Ecclesiastical and Civil funds on a quarterly basis.

The Ecclesiastical General fund receives income from the Rector and Church Wardens as above, as well as from its own investments, being the Burial Ground fund and the Trinity fund. These amounts are restricted to certain fixed payments to the Rector and Churchwardens of the Parish Church, towards the preservation and maintenance of the district churches which had been carved out of the original parish, in discretionary gifts to the clergy of such churches, or for any ecclesiastical purpose within the said district.

The Ecclesiastical pension fund is to provide a pension to incumbents of St George Hanover Square. If this is not required the funds may be put towards the maintenance of the fabric of St George Hanover Square; alternatively any income is to be reinvested.

The Civil fund receives income from the Rector and Church Wardens as above, as well as from its own investments. These amounts are applied for the benefit of persons in the London Borough of The City of Westminster in the relief of need, in relief of sickness or for advancement of life.

Linked charities

The activities and funds arising from the primary charity comprise those shown in the Rector and Church Wardens income and endowment funds above. The activities and funds arising from the Ecclesiastical linked charity comprise those shown in the Burial Ground endowment fund, the Ecclesiastical general fund and the Ecclesiastical Pension fund above and the activities and funds arising from the Civil linked charity comprise of the Civil fund.

18. RELATED PARTY DISCLOSURES

The Parochial Church Council of the Ecclesiastical Parish of St George Hanover Square

The charity had the following transactions with the PCC, a charity under common control:

The St George's Hanover Square Foundation

The charity had the following transactions with St George's Hanover Square Foundation, a charity under common control:

The Charity of Matthew Tomlinson

The charity had the following transactions with the Charity of Matthew Tomlinson, a charity under common control:

St George's Hanover Square CE Primary School

The charity had the following transactions with St George's Hanover School, a school with a governor in common with the charity's trustees:

Key management personnel

The charity paid £6,228 during the period (2024: £7,918) for secretarial assistance. Secretarial assistance was provided by the Clerk, Y Eddy.

Page 23