ANIIIIAL REPORfAND FIIIAIICIAL STATEMEMTS FOR THE YEAR ENDED 31 DECEMBER 2024 ,.1) lshfwil '.r4rnif.li?'4 'J'.-¢ ) iy4iril..6H Ae,P. ) 11? fi-IYll&l?14 .6 RICHMOND CHURCH CHARrrY EsfATES Annual Report io 12 I￿￿rnc￿d thurth tharft*s Estate knwjal RerK*t 2024 RICHMOND CHURCH CHARITY EsfATES ANNUAL REpoirr amrftable The prfncipal Obi￿t cé the Charty is to ary wrt*xes Lrf Pdrfish Churth1St Mary Mag&31enel including repalrs ts, Imwovements rf, or to lthe aThJ it5 wec6ncts, the malntenarte of the Servi￿ the￿in or there*th. l) Make the folkwlng llx&l an￿rty kn tLtsI to £12IKI: Rlchmond Church £7 The Vkarage of the Parith Chuth of RkhnKf#J £1 st lJhn the D￿ne Chuwth. R•thI￿)d St Mathias thurch. Rkthmoryl Hoty Trknlty Church, RithrTthJ Any funds avallat4e dISirf￿rtl0n are to be apF4*A tc*wds re￿￿1￿ cfy)n&ted wrth the Pa￿sh ¢JwJTth cl RthmoThJ, or the bultdir•J of a fuThJ fcf extr&thry rwalrs to the same, cr wry seT*)us emwgerLy affecting the other thurthes named 7bM. £1 2) Wre ?￿nUal ful tr* a¢￿ d tt* CTrwlty. Fc4kAthg a Pastrwal Re(￿an￿&th In 1995. ftkl¥TKThI (St Magjaene) (￿￿ned wlh St ￿hn the Divlne and St Math"as to fom Rthond Team Mlnw. TeBm Is y￿1 In thls Rep)rt b) deTr*e Rkhmornl p￿tsh a)uKh excerk wlxre ¢)thuwb5e stated. The I￿arIty was eststl1￿Bj by ￿ kt 1828 altMx* Its we l*tsJ ts (l* to a grnrt of lJ)d m&Je by Merton In 1375. Ti*al R•tyrn Apwo•th , apwoath, ena￿1r￿j the Tnjstees of ttE Chth to de(th wlhth part (rf%*ry) rf the unarpl1￿ totsl rthrn fmm the a55ets of the Charity shall be disiributed. The effert (*the (hder 15 that ￿ TnJ5tee5 dlThticffj to distribute any ￿ount up to ts total Val￿ of the mapp￿ rebjm In fvrthu￿ (hrlty, or to retsin the of the un*led rettwn (1￿.. to m*e The TYustee5 have ￿et￿TrIned tlhx In the exerclse ofthls tr* to te to mabtsln the The Tnthes the dLstrlxJtth rate cm a trknnlal ￿ In 2024 • Irfftase in the rote to 2.75% from 2.5%, uslThJ the of the Ir￿1r￿ awaje ￿ totsl fuThls of the O)arfty kn the audlted fina￿[al 5tatern￿ts in three wKedirrfJ I￿. was ar¢*v4￿. The rth rnte Is aw4K314e fty dtstsitth'ons in each of the three fi￿n(la1 ythrs fnyn 31 Dec￿ 2024. Publk b¥￿fft Consid￿ that the Charws siatul obi&tives test oftervJ forthe put4ic Nrtt of the Trustees recefft any prNote benefit frrmn acbvit￿5 rfthe ￿ty. thnTh)nd Qwr(h Chaiities Rewt 2024 RICHMOND QIURCH CHARrrY EsfATES ANNUAL REPORT It isa pkagjreto retth agan thatthe Rkthnx)N1 thurth Cfvirty Est*s 1a5tyddive￿￿ on rts keyoWli¥E ofprowthng fijnding for the fabn"c and repairt* Rithnb)nd Pdrish ￿[￿Ch. The tot* grant for 2024 was £ 465.200. an increase over the prewious year trfjthr with the first trarKhe of £500,(￿} b) 9JlVYt the Parsh R(KKns We were also pleased to grant £20.404 to Holy Trinty, RKhrThJThl for enwKy trAJthliry in wilh our d￿ritat￿e Obj￿￿VeS. We sold c of ￿r resldethl wcwues, 44 St Marfs for £1,075,LKKJ ￿xI £875,(m af that has teen reinvethj in our Our totsl Income rose to £465.gJ3 and eXF￿thJ￿ fell b* to £96,316 as ￿￿r5 Ffoperty portfolio reduced. ￿ in the wemous year, a fall in woperty Ir￿￿e was offset tya rése In InN*slrn•* I￿(￿ne and interest recelvable due to higher dep)yt rntes. I￿orne frw inth￿ts r¢6e by so¥ne Il%, party refi￿tir￿j the all(￿0￿ funds wh￿￿a5 prc¢vty IrKonx fdl ty a simitsr arThJrt reft￿ti￿j the sale ￿ c￿e wom. Beraw {* our &JopYcffi of a Totsl RettHft woach to di5irlt&rtK￿, a￿ atle to pay OLrt fmm wiial rf fwr ¢(knt4wJ irKome is ￿￿jffident Jr ¢lthuthJft tsrget t￿ 2.7S% of tctsl capknl, a ralsed fn)m the 15%. ExdudlrKJ signiknrt cash re5en*s, that captsl is Sk* bet*wn 65% investn￿, held In a variety of Investment fvTrJs and 35% re￿I￿ntral F*cyrty. reser￿ Ikwre Temalns hNJh pendir¥J further dlstrllyJtiMs. As we have stated before, 6t Is our intwi¢lM to sem dcwn the aThl In Investmwt furbts. We a￿ fiexiUe In wTrJit rrf I ternis crf asset allLKatlon In ter7￿ of fu￿ manaps. We are rthfy so derend•* orb the ur*JeTperfoming UK stctk market as rnany Charit￿5. vlth thy 20% In UK equlfjes comp**J to 50% in overseas equides, the rest in bonds, kYOFeTty and af(ematrves. Trustees have m*Je the d&i5m to the b￿S of managln9 gdng fO￿ard by apwintiNJ ¢>re th5uet*)w markw to tske ¢)vtr the manag&￿t of our assets folb)wlr¥J our e¥￿tyng In*thert g￿lnes. Thb5 S￿¥jIj a nwre SLsWnatle Iwtem stthvartshlp than cwr cuYw* prxyce of selthg fun(ts Ou￿. A LW wlill take F4xe ￿ Mwth 2025 be•thThJ to apwnts The govemtdKe of tharths cfjrtjn￿ to be uThler STh $¢n￿rry, I SUM bdth we Temaln In a thls respect. Good governar￿e r4uires gocxl tsustees. l am delbht8J that Amanda PAlams JOI￿ as a trustee last year as we say farewell to Char*s Sdlkn wm) has stct41 as a trustee. As e¥v, we cryrtlnue tt) t* well seryed ty oui Oer Tony C*mby 15 dllwt kn hLs stewardshlp Lrf wr N¥tft*lb. I we lo the fUttl￿ wtth g)me Net expendtture for the year was £778.99912023- £358,558 rt IrKml. Tre Is rewlt of ald￿lonal gwants Total Irtome for the year ofE465.S03 was totr* IrKmse In distsilyJih)r6 on fin￿al assets IrK7&% w*J hddirrfjs folknysThJ ￿ sale of a from 1rNeSt￿ fuTrJs njse ty IOfft• to £294A64 (2023: £266.203) ahlthns to fv￿1 trddln9s folk*yiNJ the sale of a proFety in 2024. Investmnts wRh a value greater 5% (rf the kYMtft4k) at 31 t*cember 2024 were.. COIF Charlues Global Equty FuThJ JP Morgan Emerging Markets Ftmd M&G CharfboThl M&G Char6fuThl Neyrton Growth and IKome ￿jnd for Charil*s RICHMOND CHURCH CHARrrY EsfATES ANNUAL REPORT Pr￿erty incon* for the of £114,266 (2023.. E129,518) vos 11.8% due to the full Impxt of Income ffftgone on the proFerty sold in ANII 2024. Net Un￿liSed h)sses on imstnvts Mve £159.582 (2023 . £487,694 ur￿eall5￿l WTr). The ￿1n5 on the Investywt NtfOl￿ of £333,9L8 (2023 . E5II,694) •￿eaS￿l Inb*stor cCfflfiden￿ folkn￿r￿ eleth.cms in the USA and expectaOon5 that interest rates wll fall in 2025. Thts was Offr￿ ty the vnwlls&l bss on the property Pcrftfdk) of É493,500 (2023 . £24,000). It is the result of an external vdualjon C￿*d cArt at y eThJ in xc1ydar￿e with the stataj valuthn [￿¢cY of the Cash deposlls hekl In a mw market fund Int8est In￿me of £￿,373 (2023.. £5B.5291, was 3.7% kMEr th to the pa￿nent of addltyonal g￿ts of £520,404 bvhth had the effeLt of redtKirwJ the average fuTrJs hdd on dekTh)sIL In addltycffi, lrterest ratss 5t¥ted to fall in Q4 2024 wh*h afve￿e Grants made of É985,&)4 Include addrtiond grants of £520,404 comwgru £5Q),Crf)O to the PCC of Rithmnd teitYJ the flrst trand)e of the grant for the redeVe￿￿t of the tsish RC0￿8 £20,404 barrfj a grant for ￿ergerry tyJik4lrrfJ works to Hoty Trfnlty, &xdudirKJ anwts, th2 reg￿r gr￿ts gi￿ were {465.2￿ {2023.. £459,2￿}, Incmse ol 1,3%. FUTURE PLANS The Trust￿ alrn to malntsln the tsbrk cf the kNeS1￿ try Ca￿￿r￿j tyjt progrnmnRd ￿nt￿￿￿e and olh repalrs as requbred unbl vh)ole PTopertles tecome vXantV+t￿ be s(thl, and the prThls Invested Snto Investment fvnd5. IUSK MANAGEMENT likelihc*)J and impact of thc6e rth ￿ng reali5ed, tr•Jethw the Mea9J￿5 In pke to manage M￿"gate SLth rlsks on an annual basis. The results ￿e recorded Rtsk Regster. The rlsks the h￿hest ￿e$S￿eTht (c￿51￿ng both Impatt and IlkellW} a￿ bekw. tcwher v411h mWNs'. Loss of key staff Theauk to the Tru*ees Is the onty em[￿. A p¥￿Jure5 manual h45 been red. The aerk meets￿UlarILW[th lfft Chalm)an. The Charity ts In%￿ed In a di￿$111ed wjtfolb) of flnaTKLIl fijnds and reshjenlial irNestrent prrwtles In Rthmond. The C￿ty has an lThvestment Polky whth Is re11th￿j annual￿. The F￿￿￿0 is against the aThJ is rebalan￿0 l . The Owrlty hc4ds cash 8]ufvalent to annual fft awaTdgJ and slx )nths of ots exkwmlthre to ￿JId reakgng assets du￿ng a [erI￿j of $4Kkn ￿Nne In finanaal mark¢ts. funds are incr￿e generating and ' kl c￿ the reV￿Rd the Twstees annuall . The re5thibal investment wowtie5 are ￿ as Assur&J knrt￿d Tena￿leS or as Regulat8J t￿arKles. Management of the proFertits Is dele￿ to a kyopaty management w￿> a￿ reswrsllAe for tenar chan are made. The reSI￿￿al inVeSt￿t Wcwt￿5 are subject to r8Jular inspecbcms In accorda￿ wfth rwJul*(ry requirements. Management of ts proFertbes Is delejated to a proFaty Manag￿n￿lt ￿￿PanY who ae reS￿￿￿lts1e for Investmtht rfsk Suffldart cash to make grarrts Change5 to proraty terbant I￿hts ChaThJes to landlord requ￿T￿nts for prop RICHMOND CHURCH CHARrfY ESTATES ANNUAL REPORT The R¢chmwKI Chaity Eslates s a regi5tued ct* {Tr&) 2127n)). Tr plncipal g)vwnlrg are an PLt of Patl*ment of 1828. l￿rtS onty rf *t*h ap¥ty, ￿ a ￿t￿rne dtsj 27 May 2CA)4. The Trk&ees have respjnslblty for al asperts rf the O*riVs thternunlng the strategy and Chawman can serve an athJWknnal ￿ yews the of his cff her the seCr￿d term. Trustees wtll ￿ualty tre indNhluats with So￿￿ In¥(l¥w￿ wlth c17e d tr ￿l¢t*S PCC fA aThJ have rdevant skjils a￿1 eXper￿n￿. Recrurtn*nt is ty invitati￿. The fdl)wing Trustets Y•we In pjst for the pthl l 2024 to the dale of a￿￿la1 c* these flnarK?al statements: A G Saundets- ltsmwi Mrs A Adams (from 17 W'l 2024) Smern Mrs A M Khan Ms R A Martin J C st51￿r (to S Iwll 2024) M•nagoment The day.tTrday oper*kn aNI *Ar4strntkn cl tre {￿ty ts tyjt brf a salknj aerk to Tntstees. The aerk The Trustees are re¥￿￿tle for sethng the remu￿ dthe aerk to Ihe Tn&ee& The aerk L4 not a manter of the proceets In Invesiment ftmd& The awity r*)t <*e(fjy In stcth arbj thares but thrwgh a dtverslfled wJrtfdk* of knvtstment funds mana3ed by several differert irNestrnert rNirwJers. The of the investM￿l pJrtfolK• is It Is the Charitys to nwntsin a cash balar￿e 8]u1valw￿ to at *t st< n¥Jrrths ￿rest￿ expwthre I￿ILK11rg any dlstrltrxrtions due to the tentharls The wa5 Rlthrnc￿d c￿r(th Charldes Est* knThJal Rq)yt 2024 IUCHMOND CHURCH CHARrrY ESTATES ANNUAL REPORT TRusfEES A G Saunders- Chairn Mis A Adams S M Blown Nrs A M Khan Ms R A Martin CLERK TO THE TRiISTEES A E Demby PRINCIPAL ADDRESS 59 Church Ro￿￿ Richmond Sutrey TWIO 6LX REfjisfERED CNARrrY NUMBER 212770 AUDThORS Kreston Reeves LLP 2rrfJ Floor, 168 knredltth HvJh Street Lon¢kn EI 611A soucrroRS Moore Barlow LLP Frameworks 2 Sheen Road RSthmond Surrey Th19 IAW 8ANKERS Lloyds Bank pk 19-20 The Quajrant Richmond Surrey IW9 IBP PROPERTY MANAGERS HML LAM Ltd 11 The (s￿drart Rlchmond Surrey TW9 IBP AF4)ro¥ed by ordw of the P*JaYd of Tntstees on l May 2025 aNI >Jned its L*hlf ty: A G Saunders. RICHMOND CHURCH CHARrrY EsfATES TRusfEES' RESPONSIBILrrY srATEMENT FOR THE YEAR ENDED 31 DECEMBER 2024 The Triisrees a￿ for weparing the RerKrt of the Tnjstees the fi￿rt￿lI Ststa?￿ in accordan￿ wth apkgiraiAe law and Unite(l Kiwn NLrLNJntxKJ StsThJards (Unit8J Kfinfvn fA)eraly knq*ed AccountirKJ P￿ct￿e) induding FinJwKial ReF¥xb'ng StaK1wd 102 Tr Rq*JtirYJ 5kndMd awbcable In ￿ UK and RewbkcoflrdaThl' The law appl￿ble to chariU85 in EThJland W*5. the Clkirit*5 P£t 2011. Chffj Ikcojnts and Re￿￿5) ReJula￿S 2rM)8 aThJ the of the lJtst t1eed rLyi1￿5 the trL&ees to wepare finar￿1 thtewnts for eath flnandal year which gfve a true arKI tsr vmy of the statÈ of affairs of the tharity of tr* incoming re￿￿J￿ and applicauon of reswrces, i￿ludI1¥4 the aThl exl￿MI￿ure, (* the cthty frr that ￿￿K1. In ￿epa￿r¥4 financial Statem￿ the trustees are required to otserve t￿ methcNJs and pn"nclkts SORP,, . rnake ￿d9*n￿ts aTrJ esb"mate5 that are reascfflat4e and p¥utht' . state ￿ether aFylkalle accwntlNJ have tttn frAknve4 to mthal thp3thre5 arnl eXp￿1￿j in the finatKaal statawts: . prepare the fina￿1 statwnats ￿ tr* gtJwwJ ba515 ￿lesS It15 Irkiptywk* to lthe charfty wlll c￿￿"nUe in bwlntr& The tsYstee5 are reskkJNble kee&NThJ proper I￿￿ni11¥J d￿dI￿ wtth reasonable acoJraq at.any tlrne the financial posltlon d the charity and to eTh3bSe tkni to er￿u￿ that the fitwda statements comply wlth the Charities Art 2011, the Charity {Accwrts and RekX)rtsl ￿ula￿￿5 2rTh and of the trLLSt deed. They are al d&ectlon of fraud aThJ othw ￿regUl￿110es. IUCHMOND CHURCH CHARtrY EsfATES REPORT OF THE INDEPENDEpif AUDrroRS TO THE TRUStEES OF RICHMOND CHURCH CHARrrY EsfATES OplTrlon 31 tkcemtr*r 2024 ¥¥hich comw* the stth￿ of fin*)dèl ￿t￿￿5, the Balrte Shrt the Cash Flry4V Statement and notes to the fin3n(ial statements, including a ￿rnMary cIsv￿lfiCant Thefinana* rwbng fr￿&¥Ork that has been in their prepaiation ￿ aptArAible LwAf and Urited SI￿dards (Untsy ￿r￿J60M r￿￿rallY Attept&J Accr#JntlrKJ Pr&XKe), FM•xial RewMtiThJ garthd 102 Tr FITr￿￿31 RekYMtr¥J Standard aFfJlkable In the UK and Rewt4K (* ￿￿antt. In our owicn the flrkindd StateTh￿ts: glve a true aThJ fair vw4 of the stste Of￿ dwrtvs 8T￿5 as * 31 2024 and of Its ItK(xnlng regjjrw and appllrntion of resources, for then ￿K￿l. . have been prwty wepared In accorilm wth Untsj Kln9kn kce&￿I Acowntlng PractKe, ￿nd￿j[t￿j Flnanthal ReporUr¥J St•)dard 102 Tr Fin0￿jaI Rep)rtI￿ StJ¥J¥d 4kw1cab￿ in the UK arKI Rwitllc of Ire￿￿1 and have been prepared in ￿cordan￿ w41th the rV]￿rem￿ts of the Act 2011. We conducteil our audit In accordanee wlth Intemati￿1 5tsrn1•ts on AJJJitlrg (UK} {I&As (UK)) and aFty1Cab￿ law. l)Jr TeswnsltrAlides under tlw are furtPw dtsoitej In the reswjrslylibes fDr the audit of the financial statements sectkn of our reF#NL We are InthFthJent rA the duity in ax(Ydance w1th the ethkal req￿rements that are relevant to our audit of the statern￿ts In the UL Ind￿j￿ ts FRCS EthKal &andanl. aThJ we have fvffi11gY our other ethkal re5p)nSI￿1￿1fyS In wlth these rewSrements. We t1¥3t the ￿ •kknce we have Lthlned ConduJlon• velatlty to goITrJ In auditing the finand* state1T￿ we hm ¢￿ILKIed IJ￿t ￿ Tr￿ the gJin9 Cor￿ ba* d ￿t￿ntIng In the yeF0rakn dthe tlnandal SlateM￿ Is tha¥ IThJI￿d￿aIfy or cdlectrtyi WOY Cast sKJnifwt dwt* cffj the tharws ats.lty to CcrtIn￿ as a going concern for a secthns of this repo Annual RepJ¢ other than the fina￿al siètew*nts Rewt rfthe lrrf14*Th￿ thereon. In conneLknn with our a￿￿1t of the fin￿￿& statem￿. ow bs to r￿d the rthEr inforn￿ aThJ. in doing so, cor6ider W1￿[her the other Inforrnatirm is materlalty irKOr6i5￿t wlth the financial statern￿ts or ￿r knowl&ge obtsined in the audit or cthenyise appears to misstataj. If Id￿ s￿h materi* Im)sistetKaes or apparent materlal misst&emwts, we are ￿Ulled to detwnine there is a matsrial msstaiement in the finandal statements or a matenal M￿Stat￿nent of the other infc#Tna￿n. If. cffi W￿ hwe wfwmed, we condude that tsre 15 a motthal mts51*￿ of this otr*r mf01￿￿ w￿ to rerANt Ihat f&L We have nothing to report In thls regard. Matt•rg on whlth w• arn rnqulved to rtport by •xcesth1 We have tTrthirrfJ to rewt In respect 0fts￿ matters where the (h¥tks PLt 2011 rwires ￿ to rq•xt to if. In wr O￿nI)n.. or SYff1a￿t accounting records have not kqt" IJT Richrnond thurch cha￿e$ Esiate RqYJt 2024 IUCHMOND CHURCII CHARrrY EsfATES REPORT OF THE INDEPENDENT AUDfTORS TO ThE TRUSTEES OF RICHMOND CHURCH CHARrrY ESTATES As eX￿ained mre fulty in the Trus￿ lju*￿ are resp)n￿e fr)r the pwarthn of the financi￿ Stste[￿ a true * faw vi￿. a￿1 for s￿￿ irtsnal c(thl as ￿ tr￿tee5 d&ernils* i% nKessary to enatrAe weparnkn rf finarKial Stater￿ts that a￿ free frcrfn mLSg2ta￿ whether due to fvaud or error. In weparing the fin￿(la1 st&eftwts, the I)￿ *e resp)n9"ble for asw tt* d￿rty5 ats.lity lo contsnue as a wlng Cc￿cem, dLscbsThJ, as ap￿trAe. matters rel&ed to gL4ng c¢mcem u4r4the gjlng Conc￿ basls of accountiThJ unless We h4ve aFp)lrted as ajdttor urmjer sth 144 ofthe Chwlues N£t 2011 aThl ￿￿K¥t In the Art and rekvarrt regulab(Th or eIr￿t tlwrwjtr. mIS*&en￿t, whether due to fraud or eTrcff, and to isgje a ReFQrt of the Indepe￿￿ntA￿IItoIs that Irmjudes our ov"n￿. Reasonable aS9jrar￿e is a high of is rKta th* an au(It condLthJ In accordan￿ ISAS (UK) wlll ahyay5 detect a materkil msstatement It exists. Mis*&wI￿ts ￿ ￿se from fra￿fj or error and are consldered matell￿ if, indiwdually OT in the wjregatr, coubj r&150natty be extthl to Influer￿e econom ¢)f usets taken (ffi the basis of these finarKial statww IrregU￿ribes, SnckJthn9 fraL*I, are rrstm cl rnTrc(xYWiarKe vthh IM and ￿￿￿t￿n$. We ￿*￿￿ureS In Ilne wlth our res&m)￿li¥lltie5, Cth1￿1 atove. to detsrt materi* mrsststements in rts(*rt of irregutsrfU* Indudlng fraud. The The obJectNes crf our audit are to thntyfy and assss tre rtsls of matw* flnarb)al statern￿ts due fraud or wror,. to oixaln gjfflcknt aFvc¥xlate regwdtsYJ the asses*J vlsks of mat&kl rnwatement due to fra￿j or wrnv.. and to reskwKI appywatrly to ilThe rtsks. Based on our urbJerstsrKJlThJ oftr* ch*lty * Irom, w41th the Trwtees aNI ob*r management las requlred by audlb'rKJ stsnd¥ds), ￿ kJenVfi&J that the p￿￿￿al rbsks of n￿<0M￿lIan￿ with laws and Tegulatr" rd&ed to heath and safety, antikn.tay and law. We ￿ld￿￿j the extent to wNth rx)nJW to the truslees. as a t￿, In KrLYdm Sect*Jri 144 (Jwrities kt 2011 and regukkn made uThJer Secycffi 154 of that has be￿ x) that we mhjht stste to the puw. To the fulkst extent wmtted by law. we thj nrt &ceptor ￿SUMe resp)r&"tx"lty to any￿￿ other than thE tharfty and the charty's trustees as a for (w bvorK for thls rep)IL OF4nths we have f0m￿J. IrtsL•) LLP Kre5ton Reeves LLP EllgUe to xt as In twThs rf Sth 1212 of the C(¥nw* P£t 2Tr 2nd Flcor 168 Sho￿￿ Higth Street Lond EI 6RA 6 May 2025 Rithmond ￿Urth (JaritEs knrwl ReFK*t 2024 RICHMOND QIURCH CHARrrY EsfATES srATEMEiif OF FINANCIAL AcnvrrIES .. FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 Totsl fvnds fvnd fur*ts INCOME AND ENDOWMEKTS FR014 465.503 465,503 EXPEIIDrnIRI 014 Raisin9 funds 83.029 83,029 112,120 Dlstr6buUorts tts Rklth Team DistrlbuUon5 to Trlnlty, RkhmoTrl xed annual apkyokvlatkns 458.( 20,404 I.2￿) 16,287 1,21)0 12,066 16,287 J,316 1,084,920 583,386 333.918 1493,5(YJ) 333.918 (493.5￿} 511.694 (24,(K)O) NEf (EXPENDfTURE)IINCOME {985,E4N) 206,605 (778,999) 358,558 (778.999) 1778,999) 358,5S8 RECONCIUATION OF FUNDS 18,456,276 18.4%.276 18,097,918 TOTAL FUNDS CARRIED FORWARD 17 677 277 17 677 277 18 456 276 All acbmlies frcrfn c(x*lrwlrrfJ ￿*￿t*s. -iO- RICHMOND CHURCH CHARrfY EsfATES BALANCE SHEEr 31 DECEMBER 2024 2024 .' Totsl fvrthts 2023 fund funts Invegtments io li lo￿68.936 IOW,936 9,&50,018 16,n&436 1fy728,436 17,LW,018 CURRENT ASSETS 12 4.693 53,789 Cash at bank 957 1.376.958 CREDrroRS , AwK)unts fallln9 due wthln c￿e (13,248) (13,248) (8.700) 17.677277 17,677,277 18,456,276 NEf ASSETS 17 677 277 17 677 277 18 456 276 14 Unapplbed Totsl Rdum Or*Jinal Gwt 11,397,186 12.176,18S 6 280 091 17 677 277 18 456 276 18 456 276 The flnandal si*ements appwj P¢ard clTn*ees cn l Moy 2025 were shjned on Is be￿lF by: AGSau Irman RKhmond Owrth (Ywlues Est* Awl RqKrt 2024 .11. RICHMOND CHURCH CHARrrY EsfATES r*- NOTES TO THE FIPIANCIAL sfATEMEKrs FOR THE YEAR ENDED 31 DECEMBER 2024 GENERAL INFORMATION The fv%grKial ststanents have tttn pwar8J in Kcordm the Flnancial RepKlrtl￿j StsTrJard applicatle In the UK and Reputlic of Irelayj (FRS 102). The Chrlty 15 a tenefft enuty wrr¥ws of FRS 102. The (harity also prepares rts filW￿al Stalen￿ in 7Mth tt* knKV)ting and Rqx)rts'ng by char￿e$.. statemert of Recc¥nmend&J Practio apFIK3tr4e to t￿lieS prepariTr4 Kcounts kn KoirdarKe with the Fbnandal Rep)rt5ThJ Stsndard a￿katIe In the UK and Rewtlk ￿ Ireknj. The financkil g2temeN5 are pYepar8J cffl a concem basls, th a59jlr￿ that the wlll ccffltinue as a goi¥vJ Ix)rKEm for foreswtrAe fLrture. The Tru** a)rsMkr&l ￿ ChariW5 f￿r￿aSts a￿1 promtions a period of 12 nw)nths from the ap(thal of the finarnal st*emats aThJ have condutsj there is a reasonat4e ex￿￿tIOn thaithe Charlty has a1o]uate trj conu1￿e in OFwational eXIst￿ for the foreseeable fubjre. ulumate Is kwobable ￿ the •YthJnt to L* recwlsoj ￿ be qL4inUned rea9xalAe a¢￿￿. Interest on hehl on der￿t 15 th1￿ recdvth tre arr￿urt can be meawr&J ￿lI)b￿ ty the Charlty. Ihls Is rrnlty LP)n of the lrterest pald or payable ty the bank Dmdwth ¥e rectsjnlsed exp¢ndltyre uatr￿l￿es ao rec(*3nis&1 asexrmjthre as a5 there 15 a ￿1 or 0)nstr￿ obilgakn commlttirwj the Charfty tothat eyndth. ￿+5 wctht4ethat a tranthr decor￿￿* t*￿WtI ￿ ￿uIr￿# In theanw)unt the oblytth be nwsuTed ￿l￿*b￿. ExpuK1iiurt 15 Statej of irrKoverat4e VAT and 15 ￿COunted Cc6ts of 9eneratiNJ ir￿ude cost inirrejj in &Jn¥ni*at•Jn of the rertsl properues and collecuon of ntsl iFKome chanJed by the ￿agernent ojnpany. A (*se*ryty p￿c￿t ofthe d¥k¥ fees fr)rb'me spent cffl aJminIstrat￿ alk**d. &)venki￿e ccsts iTvththose incurrgj N) theg)wrortsofthe WKI it5a55ets and arpwmarily associat8J ¥￿th cornstitu￿1 and statsjtory rejuiremertk TW akn Fercent dlarge for the.derk's fets the Chttlty. Invesbment wop£*trs a￿ mea9￿￿d i)itiaty After inttial r￿Ogni￿0n, lnve5tsn￿t tKOkvties are at thelrfairvalL*. Fair value is bos8J on marketvaR. Extwna val￿S are obtainej ewy RICHMOND CHURCH CHARrrY EsfATES NOTES TO ThE F114ANCIAL STATEME1￿5 FOR THE YEAR ENDED 31 DECEMBER 2024 Investments are a form of ba* flnaKI* insirumerrt ar*1 are r•xrfJnLsed at their tranS￿l)n value aThl subwuentty n￿asur&￿ atthw'rfalr value as at the bala￿t tht date the market Gains and losses arising on revaluats"￿ and aFe taken to of Fnanrial kkntits. Fund aco)untl Enthwmert are UK*e hekl aThl thIn￿e￿I ty the 11￿ fty the L￿efft of the th¥lty. The Enth)Wrr￿t fijnds are dlvk*d the VBlue grft and ££*￿¢ beifwj the unaFWieil trtal rettrn. The value of the cffiglnal gft must be maintaln&1,. however, exh year the Wdlue ￿ the trAal rtum to te is the Tntstees. The irKom reltrmrt tr) fuTrJ to fu￿1 as re(wlrgJ by the SORP and the amr4Jrt of tre ex￿dat￿ endoww)t apF4*d thJrfThJ the yw Is [￿eSt￿tal as a trarsfv tetween fvrn1s L the fa￿ of the Stat￿￿nt of Ananoal Actfviuts in the ￿te5 to the ￿0)unts. IUDGEMEMTS ANO KEY SOURCES OV WIMATX014 VIKERTAINTY In opr4Icatyc￿ of the tha￿$ KCour￿￿j w4kles. tsTNstees are rèxlred b) make h*Jwents, estlmates arkl assumptims atrrfjut the aff￿unt rf assets aThJ lia￿th$ that are rKJl reajity ar4Jarent frun other sources. The estlmate5 assumptths are basaj on hlstoncal eXpw1e￿e aTrl Lts tdctcrfs that ¥e cThWdered to be relevant. Actual resuts mty dlffw from these estlm*s. a￿ recc¥Jnised in the in estimate is rewtsaJ Vlthere the mtsK)n aff￿ts that pertt￿, or In the Crltlcal Judgements calcul*ed to r￿n1￿￿ woFety value kndke5. a5 the b* ts faw value of Its inb*stment prore￿ In rte 11. INVEsfMENT INCOME 2024 2023 114.266 294,864 129,518 266,203 DMderKts rffefvat4e -1> RICHMOND CHURCH CHARrrY EsfATES NOTES TO THE FINANCIAL sfATEMEiirs FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 16228 9.766 3.528 8,345 4￿86 14,616 10,425 2,520 7,856 4,803 977 aerks, feos Fyoperty iTsura￿e LIa￿.Ity ingjrance ttopeity Sa￿ ma￿ repair5 15,354 24 2024 2023 Gfant to RthncA)d Team Mtnisty Grant to Hdy Trirty, Rkhmc*KI Rxed annual grBnts 458,000 20,404 985.601 13.287 459,200 12,066 SUPPORT COSTS 2024 2023 dknrfs (knKkkliThJ VAT) Clerks, fees F*operty valuatKffl fee 9,241 3,576 470 RICHMOND CHURCH (>IARITY EsfATES MOTES TO THE FINANCIAL STATEMEpirs FOR THE YEAR EMDED 31 DECEMBER 2024 AUDITORS. REMU14ERATTON 2024 2023 Ext￿￿1 audit fee (r*t(IVAT) TRiisfEES REMUNERATION AND OEIIEFIrs No Trustee any rWNjnw*￿￿n fty svvice5 as a Tntstee fty tr￿ (2023: Enll). ) TnL8teÈ *Ere ￿1￿ IN the {2023: £nll). io. Ust& MARKEfvALiIE At l January 2024 Fljrchases aluatkin 9,660,018 875,000 333 918 At 31 DKen*Y 2024 10 868 936 NET BOOK VALUt At 31 Dtternter 2024 10 868 936 At 311)&embw 2023 a￿ ststEd at the bld -1 RICHMOND CHURCH CHARrrY ESTATES NOTES TO THE FINANCIAL STATEMErirs FOR ThE YEAR ENDED 31 DECEMBER 2024 ii. FAIRVALUE At l January 2024 tY5rK)5al 7,428,000 (1,075,000) At 31 D8cents 2024 5 859 500 NET BOOK VALUE At 31 [￿nter 2024 5 859 500 At 31 Cwter 2023 The Kyopubes are SI￿￿n at thelr mat*rtv&l*. ¥KI subi&t to tenandes app￿￿ats. The valuatic 0Scy is fv investmem w0p•t￿ trj be vak*l ty a 9Jr¥ey five years. tnterventng valuattons a caloJLited ty rderwKe to rwised &Yyty lThkns. Tr n>Jst recalt extanal valuath)n was at 31 Decembtr 2024 by SRVO Fyopty Umlted, a Regi#tr&l VJW. The Chartty owrs a Interest hi ¢xoJpled by the Church Estate Alrykn. Sheen Ro&J, Rlchmnd owned by The RJthncfiJ ￿arIt*s. If ￿ of tt* ahn4YAtses cease to be u59J pernwnentsy as gjth. half the Wdlue of the lexdL#thng ts vlue added iry tro kyes￿￿e d the a1rnsfvj￿j trn payable to the Charity, unkn ￿ land b g)kl Jkl ￿ wcKeeds d Sa￿ are usal to punthase We￿￿eme￿ land for the pmvLsk cl a5m5h%w vlthln a retsjnth t5m2. 11 DEBTORS: AMoiIKfs FALUNG DUE wmiiN ONE YEAR 2024 2023 FuThts hdd try ￿lI1r￿j wls Rentsl and maintenaw dettots 1,0 976 976 13. 2024 2023 IUCHMOND CHURCH CHARrrY ESTATES NOTES TO THE FINA14CIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 I& PRIOR YEAR ￿ATEmENT OF FIIIAIICIAL ACnVITY fiJTrJs 2023 IMCOMt FROM tnvestmert Ir*ome Yotsl 454.250 454,250 EXPENDrruRE (114 RAislng fv￿J5 111120 112,120 Ch*rlt•ble acilvlt Dlstrlbutths to RlchmoThJ Te•n MlThstry xed annual apwopril Other costs 458.W 458,(K)O 1,2C#) 12,OE6 12,C66 Tolal Net galns on Invesfftnts 459.2LKI 124.186 511.694 124,OCK)) $83,366 511,694 {24,CKQI NEf IPKOMEI{EXPENDrnIRE) (459,2rAI) 817,7 358,558 14et mov•m•nt In fund$ RECONCILIATION OF FUNDS 358.558 358,558 Totsl fvnds brwhtforn¥d 18 097 718 18 097 918 TOTAL FUNDS CARRIED FORWARD 18 456 276 18 456 276 RichmThl Chjrth thaTiUes Est* Rem 2024 .1