REGIsfERED CHARrrY NUMBER: 212770 RICHMOND CHURCH CH ESTATE5 FOR THE YEAR ENDED 31 DEMBER 2025
IUCHMOND CHURCH CHARrrY EsfATES CONTENTS Pag¢ Annual R•p Chrftsbl• Objgrtlw Total R•turn and bC Benefft Rlsk Manag•m•nt Admlnlstradv• D•tslls TruJteu' Re¥ponbIlIty St•t•m•nt Riport of the Independent Audltm stat•m•nt of Flnandjl Artl¥ltle• io B•l•n¢• Sh•et li Ilot•s to th• Flnnthl Ststwnwts 12 'thrrthid Chjrch (tsrit*s Estate Repjrt 2025
RICHMOND CHURCH CHARITY EsfATES ANNUAL REPORT The Tnjstees pyesent ts"r rep)rt wfth the 5tsta1nts of the Chanty for the year ethl 31 0efflber 2025 Chafltable otsJedl¥•6 The prirKip41 ¢Ject of the Charity to apply its ict¥ne for any rdhxJs pjrrrfjses of Rth[)nd Partsh Churth {St Mary mdakne1 [U01n9 to. cl, or JJdrtr to the chu and f and the maintenarKe of the 5ervKes thin or connected therwth. The Trusw are requi to: 11 Make the followknj flx&J anrwl apyowlJlth4 artThyJnUry in tt4al io £1.200: Rlchmnd Parish (hurth The Vicarage of the Parksh Chyrth of Rkhmcffjd St John the Divine Churth. m0j St Matthias Church, RKhrn Holy Trinity Churth, RKhrrv)nd £7C £100 £200 £100 £ic Any fund5 availat4e for distritrArtknn are to be apr1 towards any relbjkws wrp)seg ts)ftnted the Parfsh a)urth of RIthITrI. or the bulkliry of a fuTh# ektr¥ydlnary repalrs to the sarre, or any seths effjerwcy affec¥ng the other churche5 named above. 21 Prepare amual flnandal statemts In full tlle$ of the OwTr. Followlng a PastDral ReganiSaOn in 1935. Pichmond Parfsh thurttj (St Mary M&Jdane) comblnJ with St John the Dniine and St Matthias to form RkhrTr)ThJ Team Minislry. RKhrnoThJ Te Mifisty is used in this Annual Rew)rt to denote RlthmoTrJ Partsh Churth exce0 Wh cthern¥ise st)tsJ. The Charty was eststllshed by an Att of Wlwnent ol 1828 t bed to date to a grant of land m&Je by Merton Priory in 1375. Total R•tum Approach By an Order datsd 15 December 2CQ9 tt Cfvirlty Cthnmlskn Con5w to the )rity adowng the Total Rebjrn pproach, enabling the Trustees of Charity to (lec whKh part (if any) of the unapklied totsl tUrn from the assets of the Charity shall te dWSbuted. The effect of the (der is thaitl Trustees have dSscretion to th5tribute any amount up to the total value of the unapplied total lrn In fUr0e of the objec)" of Chanty. or to Trtain the whde ol the unawled total rettJm11.e., to rnake rn dBtri1knj. The Trustees have determined that, in the exwtise of thts the widiThJ princiF4e to be ctsewj 15 to rnalntsin purchaslry kY)wer ol the prt eThJOwmt. The Trustees re£ the drItjU0n r rm a trIenn t4. In 2024 an irKrease In tM rate to 2.75% from 2.5%, usiw the exThJ of the n9 a¥va9e of tota furnts of the Charity for the audite(J financial statements in the the Im41ety precediNJ years, w35 appro¥d. The r rate is applicaye for distributn$ sn e&h of the three lha81 years fvom 31 fecemter 2024. Publlc ben•fft The Trustees confirni that they hove referred to tt guidare on Pefft issued by the Charity Comrn1s51on aTh c$er that tke Charlvs stated obJeLtrts rr test rf L"TrJ ts the wblc tfiL Nrme of the Trustees r1Ve aTry private lerrt frorn the acbwties of the Qrty. Richmond Church Charths Estate Annu Rewyt 2025
RICHMOND CHURCH CHARrrY ESTATES ANNUAL REPORT ACIIIEVEMENT AND PERFORMANCE ActlvStles dyrln9 the wr on again Richmond Church Cfrarity Estates has delfvtred on tt5 key objectyve of prowdlrs funding for the fabric and Iir of fv'chmond Parlth Church. The annual grant for 2025 was £ 513.1c. an IncSe of 7.1% over 2024. In addit, the second trahe of £5(M),(X)o to suppxjrt the Partsh RacKns woiett was made as wdl as a grant £12,0 tr> Holy Trfnlty, Richrnond for ernergerry rrKfirvJ worK in line with our charitstAe objths. A grant of £50,000 for the rep14cement of the bells at St Mar Magdalene wag èpwoved tArt Th)t 31 unbl after the year end. In (ktoter one of our resldentlal propertie5. 46 St Mary's Grove, was wt up for Sa * an offer has &Cept. The sale Is exretted to complete Ourlrs the quarter of 2026 vthen tyoteets wll be rdrfye#eJ with iJx¥etb)Mry inve5bt mèriagus. Our total IncLyre intreased to £489.976 and ex[dItUre fdl to £57,388 as fewer paIrS we requi1 on our LFerty portfollo were offset by management fees paid todwetsonaryfuThl managets for fv first tr.me as described more fully bdow. whi Investtnent Inco rose dtse to the fiAI year imw of ve5)Ments made in 2024, Interest e1Vable fdl due to lower avera9e amounts hdd on dew and fallirKJ rate5 lor Lhe amwnt that We helo on dew5rt. Income from Investments rose èy 5, paY reffetting the irKreasgJ of fvnds while yoretty iome also increased when property let on a Tr)minal nt to h)u5e the Chik1ren aThY YtyJth Worker for AKhrnd Team Ministry end early and the property was then let at market rent. Because of wr tkn) of a Total Retum approach to db5tnttknns. we can pay out from captsl ff our comknned Incomè i¥ lrwffent ro meet dthibub'on target of 2.75% of CaPtal. Excluding SIgncant cash reswves, cats1 ts UhaT for 2025 approx+mately 65% Investsnents, had in Investment funds wlth allocatkns acrr6s Investnr dasses and gwraphically as detemiined by our disuett)nary investment manager5, and 35% resntl property. The cash re5erve5 fU hh pendiThJ fvrther dlsirfbub"ons. The mlx wlll charye next year follovling the prootsty sale exFdained ave and 6 in line ¥ith weviou51y stat•J Intention to sdl down over the wcperty Forrfo1 &id nIest In fvrxts. We are fiexiL In Purlt of thLs Ixw-temi tsrget. Jrlng the flrst Iwarter of the year Tn&ees at¢xsinted vetht Cazer¥Jve Captal and Sjrasin & Partners to manap the Intment p)rrfdk) a rnr sustalnaNe 1cfig.tern stewareshlp of our Investments. The value of ihe reco&y strongty last year deswt gee(OrKY getrpc4itKal turbJnce. The go¥emonce of dw1 cc¥)tlns to be under 50W f£nffjny, tKrt I stsll we MaIn In a F4xe In this re5pecL Gwd govemance requires trustees. Ajan Sauntss stepp•l &Jwn as Chairnian at (¥Jr November meeting, Ind we thank hlm for hig investment tXFerU5e whth has $e1 ug durtng his thalfmanship. We also said goodbye to Amanda Adams and wth her well a1 wekeme Emma Menthth. Ks e. we c¢niinue to te wll 5ewl ty our Oert Tony Demby is dllvjent In hts stewardship d (xw yJrtfc4wJ. I t¢lve we can Contin to vwi the future wrth seme confvaerrte. F114ANCIAL REVIEW Net eXpdIJre lor the year was É16.019 12024 - £778,999 net wlre). The ease Is the resur( of hher Totsl incorne for the year of £489,97612024. É465,5031 rrp to Increased rertjnd IrKome fr finarKki1 invesbnen Is)come from In¥trIts Inueased try 5.1% to £309.86612024'. £294,864) due to I fvll yew irnm of investments made In the prevkxjs lnveStsnts with a value grets than 5% ofthe F#Jtft4b) at 31 Cernber 2025 were.. CaZen0 Multi-Nsset Fund Sarasin EnLk)wrrEnts Fund ProtErty irthne ft¥ the of E144,r112o24.. £114.2661 irrfxeal ty 26.0% f(4khwng the retrjrn of a let at a rvnin rwt aTrJ whth wa5 stheynuy rlet at the pyevailing open mwket ra7L Churth Charrtks Estate Annual RerAyt 2025
RICHMOND CHURCH CMARrrY EsfATES ANNUAL REPORT Net unrealised 9air6 c¥) investments %%ve £628,862 12024 - £159.582 unwlised lossl. Tl gains on the investment pOrrf of E636,062 {2024- £333.9181 indude ner wlised yins of £35.671 as part of the FWSS tsf transferring assets to the discretionary fund manager5. An unrealised loss the IKottrty pJrtfolio of £5.50012024 - E493,5QO unrealised k)5sI. In OCtor 2026 a resiricted terkincy pryrty te(a vacanL The put up for saÈ. The agreed sale price resuked In an urAift In value of the oroFerty thot offset the red ifi value of the ots PYOFerties in the p)rtfolK). The wopetty was 9)kJ at rts carrwNJ vlue in March 2026 Cash deposits he in a rrorw market fuThJ generated interest irmr of £36,10912024.. É56,3731. wa5 36% lower due to payment of additbxal grants of £512,000 12024- £520,404) which the effKt of cIn9 the averdge funds hdd on depo&L Interest irK¢ was fvIrtr thrsdy ty the (onb'rwèJ in interest rates the pr. Grants made of £1,060,200 12024 - É985.6041 inde &SJitiLwI grants of £512.(K#) ccmprisiw £500,( 12024 . £500,WOI to St Mary Magdalene for the second of the grant for the red0pnpnt of Pansh Rooms and £12,OW 12024 - £20,404) fu emergency repair works to Hdy Tnnty, Rthmcfid and the apwoval of a grant of £SO,000 for the tse1 at St Mary M4dalÈne whKh was paid after the year eThJ. EXdIlrtg the amwnts, the grants were £498,20012024.' £465,2C(11, an irKre• d 7.1%. FUTURE PLANS The Trustees aim to maintain the fKic of the irNestrt prcfvties ty carrylThJ ¢yJt rnMrned maintenarKe and oiher repairs as required until wlK)le properts becc¥me vxant when VAII rnalty te 9d aThJ the yeedS Invested wlth the discretionary Investmenr man4ets. RISK MANAGEMENT The Tw$1&5 consider, evalue. and reCd the major riss ro the CWty15 exp%ed, the Ilkelihood ana Impact those dsks teir%J realised, t(Wher the rneagJ in plKe to mjnjge aTh1 mltyte such rlsks on n annual basis. The resuks are recorded in the R&3tster. The riss bwih the l'ghe5t J55e$5rrt Iconsltring both Impact and Ilkellhoc¢1) are slwi Lkn. toget aThl mgationS.. Dqscrl lon L05s of key stjff Attb¢>n The Clerk to the TrusteEs 15 thewtyemplwee. A w&ureS manual has been red. The aerk meets T ularf the Chair. The Ch•ity Is Invested in inve51Tnent fuTrJs and residenttèl investment prcFth RKhnTh)TrJ. The rnana9ernt of Investment assets ts dekgated to fft dixreknary inthwt magers. The Charity has an Investsnent Pc4ry wNth is annual. The PNifolio Ferf0rfrre Ls monthred inst the benchmark set in the In¥estsYnt Pc41 The Charity Kcurnulate5 cash from distriLxJtis m&ae Dn fG ifNestment rKTrtfdio during wr to sure that (( has SuffiCt cash available by the ¢Jate of tr awafd of the to the anwal grants to meet the 019atIOn ènd, SIK rThh9 of other expenttrtu to awfyd wlisirrtJ assets during a Feriod of sudden thdir ¢n finarKlal rrorkets. A 12-mnih cash flow forecast Is wlewed at each Trustee meeti to ensts that sUffiCt (ash will be awailable. The regdentia5 investmenr k¥OWties are let as ASSU Shothold Tenancles or as Regulated tenarKies. Managernl of proFerties is dde9ated to a prcyrty management c(xmpany who are rew&trle for wigng the tenanLry reements Y4In l islatNe changes_are rn•Je. The re5identsa investrnent propertes are subject to regular Ins[15 In acCorthe with regulatory wuirement& Mana9ernwt of prore$ Is delegated tO•a property rnana9eft ct¥MpY are re5rA)nge for with Irwestment risk Sufficient cash to rnake grants Changes to pyopty tertt rb3hts Charw to [Ktrd requIrerts fDr prcperty srRucniRE, GOVERNANCE AND MANAGEMENT Structure The Richmond thurch Esrates is a rwered alarty (No 212770}. The paI governirwj dtxuments a an Att of Parfiament d 1828. parts On ofwhich sbii aFpy. and a tharity CDMiss¥)n Sdme do 27 May 2004. Richmond Churth (hants Esiate Annual Repjrt 2025
RICHMOND CHURCH CHARtTY EsfATES ANNUAL REPORT GoverMnc• The Trustees have ultimate reSpts"1ty fw all asgects of (harrtls WLYk. In ttUL)r. detLYmining the YJategy. dire¢ton and, monitortng pYogres5 in relakn to strategic ob]"ecb"ves a1 rts pufuman. The Charity's c$brtE that numlw of Tru% be nor Tre than s, nor le55 than three. The Trustees rneet at least twice a year. Tnjstees can serye for a rnaxirnum of two csecUtiVe terms of four years eath. The Chair can serve an additk)nal two ythrs teyond the eThJ of his or sec1 temi. Trust&s 11 Usual be Indfvlduals wrth sofne invofvernent wlth St Mary Maene chwch, and hjve rvant skills and exen. RecruibYEnt is by Invitstion. I.[j Trusl£es In fO#for the rrj i Truary 2025 tts the dats rl approval of t15e financlil &atertts". A G Saunder5- Chairman (to 9 tcemtor 20251 Mrs A Adants- Chair (from 9 Cecemtw 2025, 17 January 20261 S M Brown Mrs A M Khan Ms R A MaFln - Chalr (from 26 Jjnuary 2026) Dr E L me1th (from 19 January 20261 Manayment The cky.ro.day Operatr aTh1 admlnKstraJM c4 ChJrliV Is carTled by J salard auk to the Trustees. The aerk has delegaled aUtty fcrf OFerationa financi and Investmr m?rwgernwt mattern. The Twstees are tAe Ifx setting the rwnunwakn ol rhe to tt Trustees. The atrk Is not • memter of eoard. No Trustees rKeive any Munerab fry Sfft. In¥egtment polk¥ The p)Ilcy Is to sdl the pJrLfc4b of retya1 k¥CWty IN Athl as wh)le ¢yor0e$ become vacant and to invest the proceeds In Snvestment funds. The CK4nty t)es invest dirertly In stocks shares trt thrw9h funds managed élxretionary 5n¥trent manw. The Ferfcffj)brte of the knve5trrwrt revkn1 at eath trustee meetlng, ar¥J the Invesrwnt wty Is revwed •nnuty. It Is the Charity's rdKy to maintain a cash balarKe to •t * six months urffestricted eXFendItu and to accumulate Olstributi¢)ns from inve5tmwts to rneet the nUal grnnts m•Je b) the tenefid"e$. The Fdlcy was achleved. ADMINISTrATf¥E DETAILS TRUSTEES SMBmwn MtsAMKhan M5 R A Marbr• Dr E L Meredlth CLERK TO ThE TRUSTEES AEDemty PRINCIPAL ADDRESS 59 Church Road Rkhrrd Surrey TWIO 61X REGISTERED CHARrrY r4VMBER 212770 chr[1nd (urch tharbt*s Estate Amual Rep)rt 2025
RICHMOND CHURCH CHARrrY ESTATES ANNUAL REPORT AUDThORS Kreston Reeves Alf( LLP 2M FIo(x, 168 Shoredrtth High Street London EI 6RA soucrroRS Mwre Barfow LLP Framewor 2 Sheen Road Rrhmond Surrey TW9 IAW BANKERS Lloyd5 Bank pt 19-20 The lJJ*1rant RKhmoTh Surrey TW9 18P DISCREfioNARY INVEsfMENT MANAGERS Cazenove Capital l LorOn Wall Aace London EC2Y SAU Sarasin & Partners LLP 50 Georye Street London WIU 7DY PROPERTY MANAGERS HML LAM Ltd 9-11 The Quadrant RKhrnond Surrey TW9 IBP AppTove(l ty order ofthe 8c•rd of Tnthes 23 2026 ¢Jn ts beh ty.. kl,,L Ms RA Martln- Chalr Rrhrnond Church (Tharibes Estste Annual RekX¥t 2025
RICHMOND CHURCH CHARrrY EsfATES TRUEEs, RESPONSIBILtrY STATEMENT FOR THEYEAR ENDED 31 DECEMBER 2025 The Trustee5 are responsIb for preparirrtj the Repx¥t of the Truths and the finanaal statements in accordan wrth apjicable law and Unrted Kingdom Acctsunb"rKJ StsThJards {Unted Ktwom (trallY Accepted Accounty'ng Prath) irlUding Finanoal RepNbng Stsndard 102 Tr financial RepJb'rrfJ Stsndard in the UK and Republicof Irdand. The L4w app1Kab to charibes in ErvJi4nd and wa5, the ljaiities kt 2011, Charity IAcc(MJnts t3rKI RekDttsl Regulations 2008 and the provisi$ of the trust deed wuires trustees to prepare financial staterneTrts for each financial year ¥yhich give a true and fair of the state of affairs of charity arKI of the irthning re50urce5 and application of resou$, Includlng the intorne and e¥FeThJrture. of the thanty that In wepariThJ those finaroal statements, the trustees are required to se Sutsb accountsThJ Oiaes aThJ then apY them constsw; obseNe the meth(xls and pnnaFdes in the Charty g)RP,' make judgements and esb'rnates that are reasonable and pru(knrt; state whether appli(able accounting staThJards have teen subjttt to any rnatertal departu dixlosed aTrJ explained in the financ1 statements. prepa finJrKkil staternents the gC4rrfJ basis unkss f( is iroppyowiate to that the charty 11 contrnue in bu&ness. The trustees are res)Se for keeiirKJ proFer accountlng rectyds whKh dIO$e with rtastsnob accuracy at any time the flnanclal position of the chanty and to enat4e them to ensure th)t the finanoal ststements ComY wth the Charltks t 2011. the Charity (Accounts and Rew)rts} ReguLations 2008 aThJ the provisk*S of the trust deed. They are also sponsible for safeguardir4J the assets of the thanty and for tsknr¥J oasonable steps fcy prevenb.on and detectkjn of fraud and other irwuL4rth5. "chrTh)nd Churth CharitE5 Esiate Annual Rem 2025
RICHMOND CHURCH CHARTfY EsfATES STATEMEKf OF FINANCIAL AcfIvITIES FOR THE YEAR ENDED 31 DECEMBER 2025 2025 Total funds 2024 Totsl fiJnds Unrestrictèj Endowment fund fund5 INCOME AND ÈNDOWMEPITS FROM Investwt Inc Total 489,976 489,976 465,503 ExpeNDrnIAE ON Ra151ng funds 57.388 63,029 Charltabl• a¢tlvltl• Grants to St Mary Magdaler, RithTrv Grants LO Hdy Trinity, RKhrrwd Flxed annual grts Other costs 1.047,0 1,047,C 12.Tr)0 1,200 17,269 20,404 1,2(M) 16,287 17,269 Total I,C60.2(KJ 74,657 1,134,857 I,4,920 Net galrL5 on InvestMts 6Y.362 15.5001 333,918 1493,5001 (s,5) 14EI INCOMEI(EXPENDTTURE) 11,rAAI,2fXJI 1,1)44,18l 116.019) 1778,9991 TrMf•M b•tw•¢n fvnth Is Net rnovernent In lund• 116,019) (16,0191 In8,9991 RE(ONaLON OF FUNLVJ Totsl fvnds IMghtforw•rd 17.677.277 17,6n,277 18,456.279 TOTAL FUNDS CARRIED FORWARD 17 661258 l7 661258 17 677 277 IJI actiwt*s den've from cont5Ning ac¥th. 'chrrnnd (thurch Cnths E51ate Re[ 2025 .1
RICHMOND CHURCH CHARrrY ESTATES BALANCE SHEET 31 DECEMBER 2025 2025 Total funds 2024 Total funds Unrestrirted Endowment fund funds FIXED ASSETS Investments Investments Investment rty io li 11,144,412 11,IH,412 4 859 ory) 10,868.936 5 859 500 16.Tr)3.412 16,003,412 16.728,436 CURRENT ASSETS Debtors Assets held for sale Cash at bank 12 11,073 995,CXX) 11,073 995.0 4,693 957 396 1,724,842 1,724,842 962,OB9 CReornRS Amunts falllng ¢Jue wthin e year 13 166,936) 166,996) 113,2481 NET CURRENT ASSETS TOTAL ASSETS LESS CURRE•4T UA6ILmES 17,661,258 17,66L,2S8 17,677,277 NET ASSErs 17 6612S8 17 661258 17 677 277 FUNDS Endowrnent funds.. Unapjied Totsi Return Orfginal Gift 14 11,381,167 11,397,186 17 661258 17 677 277 TOTAL FU14DS 17 661258 17 677 277 The flnanckil statements £re apy0d by fv Bc4rd of Truees on 26 A.1 2026 and %stre *ned ts t¢ha by.. Ms RA Martin - Chair RKhmond Churth O)anb"es Estate Annual Repjt 2025 .11.
RICHMOND CHURCH CHARrrY EsfATES NOTES TO THE FINANCIAL sfATEMENTS FOR THE YEAR ENDED 310ECEMBER 2025 GENERAL INFORMATION Rhrnd Church Charrty Eaate5 is a chanty wistergj wrth the ¢Jarty Cc¥nmi5s¥Jn. AccouriTING POiICIES B?$ of pr•p•ln9 the finandal siatem•nts The finanoal statements have teen wepJr&J In ac£ordantt Mth the Finarrial RewttThJ Standard applitaile in the UK and lieputAK of Ireland IFRS 102). The Charty is a trerefft entty for the purwJ5es of FRS 102. The Chanty also yepares its finanoal statennts in accordan Accountyng and Rep)rting by char"eS.. ststement of RecoMrjed prath" to thant wepariNJ ttir Kcounts in accordance with the Financial RepJtng Standard aOKatle in the UK arKJ Rewblr of IrelaThJ. Golng Con¢ern The finanaal statements are grepar8J on a g)Ing ¢0M ba5, whtch assumes that the Charty vlll contr'nue as gcing concem for the foreseeab future. The Trustees have C(Sred the tharity's forecasts ano projections for a perkjd of 12 months from thè approval of the finandal siaternents have condLthd there is a aSOnable exctatIon that the Charty has&Jequ rv$)Ur to continue in Olial eXtSten for the foreseeable future. The Ctrarlty thereth ¢crtUes to adoFt t gx4ro cown bas15 in wepring finaKial ststernents. Income l inc¢yne 15 reccgnlsed In the Staternert rf Rnandal the tharfty has legal tnyyernent to the funtss, ulMate recpt Is pr¢batAe and the amount to be recc4nised can te quan)'ld wth sonab accuracy. 11 Incorne ftorn investsnent woFertJes Is acCnted fcy when T1VatIe 111 Inccme from investments is nted for when rKtyvable. Interest on fvnds held on deposf( is Induded fecewatAe and the amount can te rneasured rellatAy by the Charity; thls Is nornal up)) no1JficJn of the irterest paid w payat4e by the b•nk. Th'vthnds a recnised On the divldend has been dedared and nCficètth has been TNed of the due. EXndIre LIabilitS are recojnlsed as ex[endth asscLffj as theo is a legal or construthve ctligèyon commltOr4J the Charlty tothat expendff(u, it is probable that a transferof econc¥nK Ixnefits wll be requlred in setvernent and the amount of the 0t)n can te measured relbaty. EXpendrtu is stated induswe of lrrecoverae VAT and Is accounted for on an actruals bas and has been dasyfd under he&JirrfJs that agjregate all cost lated to the category. Costs of werat6ThJ furnls IndJe adrnlnL%trakn aTrJ wental Income fees charged ty the PYOFeity manager and fees charged by the di5crebonary Investmert manw. A tharge of seventy pent of the crk's fees for Ume nt on adminlstratK)n has also been allc(ated. Charttable ath¥e5 Indje ftx&J annual grnnts rnade to the churctss toJether wfth grants made to St Mary Magdalene, RKhrnond and Holy Trinty, RKhmond frtyn the Unaj tcknl rn. G)Vernan costs indLK1e iwrr&J in the ¢))vemarKe Charty and ts assets and a plmat1WassIèted with constitutkjnal and statutory requirements. also inctypJate a thity Frcent thaffje for the Crk'S fees and other profesg'onal fee5. Grants payable a payments made to third partks in the ftJrtherarKe of the Ctsntab objects ofthe O)arity. Investment prOrtIeS a mea9Jred 1nrtla1 at thwr cost. After inrtial reccpjnC, InveSts)nt proFert5 a Inded at their fail value. Fair value is based on market value. Externa5 professi(ywl valuab.5 are obtsined every five years. InteNeniThJ valuatitsnsare caloJL3ted ty referetr) recc¥Jnised prok*rty Wdlue Indi5. Gains and losse5 arisiNJ revaluaticfi and disp1 a taken to the Statement rf nancial Acb"vths. 1chmOnd Church O)aritE5 Esiate Annual Retxwt 2025 .12.
RICHMOND CHURCH CHARrrY EsfATES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 ACCOUIITING POLICIES- ntinUed Flxed Amet Iii¥esirnents Investments are a f¢)rrn of basK financsal instrument arnl are recojnised at their trarE3cOn value and 9Jbsequendy measured at their fair value è5 at the balance sheet date using the ctsing Quoted market prre. Gai and losses an9Tha revaIatIon and disw5al are taken to the statenE ol Finano& ktNths. The Trust does not acquire wt optsMs, derWa u dher comr4ex fift8101 instrunts. Fund accountln9 Fund5 are classified ttween urwe#JtsJ and eTrkn¥nnt fuThh. ihvestrUktsère fv[S )¥altst4e lor ?V 1n Charftys tharltsble rtlthes. Erttsbvmert Ire th9se on tNSt Jjmlnlstered by iht Chaiity for benefft ihe (harlty. The En¢owment funds a diwided betren Krobeing the value of the onginal gift and nae toin9 the unapFld total return. The value of the oNJinJl gift rnu5t te mointained,. however, each year the value of the unaOied toW retum to be 15 de£wJed the Trustee The inctyne and expenses rthani to the eThSywment fvnd are tharged to tw fvnd as requifftd by the SORP aNI amount of the eXpeThlae endoWrtt èpJled dunr¥J the year Is presented as a transfer ttheen funds on face of the Ststeffnt of AcDwts and in notes to the acc(¥Jnts. )UOGEMEI4TS AND KEY SIWRCES OF ESTIMATION UNCERTAIIITY In the appllcatlon of the Charity's ¥ccntiry FdKs, the Tnjstees a reouired to make lud9ments, rnates and assumptions atout the carryiThJ amount of assets aThJ lia¢1e5 that I not re•Jily apparent from other sources. The MateS and aswJrnptbns are based orb hlstorical e¥raence fartors that are cong¢Jered to be levant. ktthil results may differ from tlwe e5bmJ The es¥mates and urthrfw'ng assumW"j are orw'vj bags. RevF5ions to accountin9 esUmates are rectynised in the perioa in which the esb"rnate o mised whe the affects lY that Feriod, or In the rx1 of the rev and future wrlod5 %there the thrrent and fvture FerkKts. cr1£•1 Jud9ernents The Trusiees use Valuat perf( ifM1ep e[S every flfth year, Intvenlro valuations are cakulated by reference to recwnlsed property valL* indices, a5 the bag5 for fair Val of rts investment yoperties. Further details, Indudirg the vlue aNI key amPt5 used f¢¥ the f•r Val Mearet, are gwen in note 11. INVEsfMENT INCOME 2025 2024 Renrs receFvat4e tiwdends retrivatlt Interesr re•VatIe 144,001 309,866 114,266 294,864 RichmoTh1 Church Charities Estate Ann RerM)rt 2025 .13.
RICHMOND CHURCH CHARrrY EsfATES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DÈCEM8ER 1025 RA1S114G FUNOS 2025 2024 Repairs and maintw Property mar>agerE fees PrortY v&uatiw and intr0Ct)n fee5 aerks, fee5 Property Inrae Lkibllrty insurarKe other e%pen&"ture Property sale costs Major rewirs 13,872 11.387 4.861 7.647 4.663 1,149 Iso 16,228 9.?66 3,528 8.345 4,586 15,354 24,238 2025 2024 ant to St Mary Mtydakne. RldbmThl ant to Hdy Trinity, fv'chrr¥>KI xed annual qrants 1,047,OCQ 964,OCQ 20,404 1,060,2C¥J 17.269 985,6Ql 16,287 SUPPORT COSTS 2025 2024 Auditor's mUnerat)n l¢ndLKkrvJ VAn 14.4 3,277 9,241 3.576 3.000 470 Property Valuati fee Cts expenditure 'chrry)nd crCh Ch3ribes Eskte Annual Rwjrt 2025 -1+
IUCHMOND CHURCH CHARrrY EsfATES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 AUDITORS, REmuNERAoN 202S 2024 External Jdlt fee I1 of VAn TRUSTEES. REMUNERATION AND BENEFrrs No Trustee received any MUneratIon for 5ervKes as a Tnjstee for the rI2024.. Énlll. No Tr expense5 were pa#1 for the ye4r12024: WI. 10. FIXED ASSET INVEsfMENTS Usted InveSents MARKEf VALIJE At l January 2025 Purchase5 DSsposals Cash at fund manage 10,868,936 lQ,517,236 (11,372,276) 496,154 At 31 Drnter 2025 11 144 412 NET BOOK VALUE At 31 December 2025 11 144412 At 31 Ccernt• 2024 10 868 936 Rithrnorxy Church Charibe5 Est*e Nnnual RekKYt 2025 .1
RICHMOND CHURCH CHARrrY EsfATES NOTES TO THE FINANCIAL sfATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 11. INVEST14ENT PROPERTY FAIR VALUE At l January 2025 Revaluai Transfer to CUrt assets 5,859.500 15,5001 995 0001 At 31 Ccember 2025 4 859 CKJO NEf BOOK VALUE At 31 Ccemtff 2025 4 859 000 At 31 Cwmb¥ 2024 5 859 $00 Thè proFertSes are shown at market value. and b]ett to ex•i tenancies Whe approwate. The valuatson Icy is for Inve5mnt yoperties t¢ te by a qualified surveyor every five years. Interveniry WalOn5 a takulated by reference to r&tsJnised kryerty ¥¥ue indices. The rnL rent extemal ValuaOn was at 31 Dernber 2024 by SRVO Umfted, a Regthred Valuer. The Chartty owns4 rthvsk)nary lrterest in Yesenty(uPletl oTCh Estate m5eS, Sheen Road, Rhnd and 0 by The RkhmoThJ Charit. 11 any ofthe almsho ceJ5e to be L$8J rermanently as 5urh, half the value of the land lexduding the value a&Jed ty the preswKe of the alrnshwsesl toMe5 payab to the Chjrty, unless ihe land is and the are uswl to wrthase rer4&ennt land for the provIon of almshouses wthSn a reasonat4e tirre. In Cttcter 202S of the invtstrn*t tryerves was M up for s¥¢ and an offw has been atoptsj. The s completKfi •e tn March 2026. The wcfwty therefore been tranrferred to affrent assets. 12. DEBTORS: Amoupifs FALUNG DUE WMIIN ONE YEAR 2025 2024 Funds he by letknrq ajents Renral and Maintena delkn 976 13. CReDThoRS: APIOU14TS FALLING DUE VItTHIN ONE YEAR 2025 2024 lknnt p3yatrAÈ Accrued experse5 so,r F0"thThThj Church charr15 Estste Nnual Rer(rt 2025 .1fr
RICHMOND CHURCH CHARrrY EsfATES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 14. MOVEMENf IN FUNDS a) An•tysls ol Mt assets by ld At 31 D¢¢wnbw 2025 IrKoming re9Jurces Resources expended Gains and losses Movement in funds Geral luThJ 11.C60.2CQ) {1,[0,1CyJl End¢)wmnt lunds expendatAe eo¥rent Permanent 489,976 (74,6571 628,862 1,044,181 TOTAL FUNDS 1 134 8571 At 31 D•c•mb•r 2024 IncomirvJ Re50Lbr G)ins and Movement in funds General fund 1985.6041 1985,6041 EndOWnnI fvnds Expendable endo¥vment PerffMirnt eolmt 465,503 199,316) 1159,5821 206,605 TOTAL FUNDS {1084 920) 159 5821 b) Summary offund rno¥em¢nts Net Transf*s At 2025 in funds funds 2025 rneral fund 11,c,2[l) 1.060,2C#) Endowffl•nt funds Expendalle 00ment Pwmanert eThJowrnent 11.397,186 1,044,181 11.060,2001 11.431,167 6 280 091 17 677 277 17 661 258 TOTAL FUNDS 17 677 277 16 0191 17 661258 thrrond lThurch Charfdes Esiate Annual Rekxrt 2025 .17-
RICHMOND CHURCH CHARrrY EsfATES NOTES TO THE FINANCIAL sfATtMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 I& MOVEMENT IN FU14DS- contlnued b) Summary of fund movements (contlnued) Net Trnn5fer5 At l January moveffnt tset funos 31 Decernb 2024 ITh funts 2024 Unrestrfcted funds General funo 1985.6041 Endowment funth Expendable endowment 12,176,185 206,60S 1985,604) 11,397,186 18 4S6 276 17 677 277 TOTAL FUt40S 17 677 277 ¢) DeKrlpdon alfun Unrestricted funds Endowmont fund• p2Dda- ReKvesents any anb)unt ab>e the pmrent endowment set out In an Oreer da 15 Decerntyer 2009, the CW CtffjrrI59on coroented to the Charity •JopYn9 the Total RM from assets of the arIty. The bJlarKe, the UnaOd Total Rebjrn. can be retain&J or dIstrit a5 the Trustees see Perma. By an Order ded IS Decernber 2tM]9. the Charity C(MnMis0n consented to the Charty S)Ftlry the Total Retum approach for InS1Jents. efft ofthe ¢>der 55 that an amtyjnt of £6,280,091 wos set a51de as the value of the OrwJin41 rft and must te reiained as pennarent en¢tyvnt. IS. RELATeD PAATY DISCLOSURES JrlThJ grants totalling [998,1l2024.. É965.ICA)I paKI and £50,(*K) {2024. £nlll were pa¥ae to Rj'chmond Tearn Ministy, a Aegrter&J Charity (No. 11300181. Ms RA Marknn. Trustee. wa5 a nEmter of the Partthial thurch of RKhmond Tearn Ministry throu9h(yJr the year. SM Brown, TrLStee, was a r17ber of the Parochial Clwrth Cn01 ol Rj'chmond Tearn Minlstsy until 18 May 2025. 16. POST BALAt4Ct SHEET EVENT In March 2026 the Sa of the WOF•ty red&Srf as an asset h&J for sak crynFAe at value. Rich[rd Church charit Estate Ann RekK)rt 2025 .18.
RICHMOND CHURCH CHARrrY ESTATES NOTES TO THE FINANCIAL sfATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 17. PRIOR YEAR STATEMEIIT OF FINANCIAL Acrivrry Unre¢ncted EThatrwment Total fvnds ftJTrts fuThls 2024 INCOME FROM Investment incoN Totsl 465,503 465,5D3 EXPENDITLIAE 014 Raing funds 83,029 83,029 Charltbl• •tUvltlts Grants to St Mary Ma9dakne, Rkhl Granrs to Holy Trinity, Sknchmond Fixed annual grnnts CRher cosrs 20.404 1.2Q) 20,404 1,200 16,287 16,287 Tot•1 Net galn5 on In[Trts Net losses on investwit sYororts 985.f 99,316 333,918 1493,SQJl I,W,920 333,918 1493,5001 NET INCOMEIIEXPE14DtruRE) Transfers between fvnds {985,6041 206,605 1778,9991 N•t movem•nt In fvnd• RECONCIUAT1014 OF FUNDS 177B,9991 1778,9991 Total fundi brnu9ht forw•rtl 18 456 276 18 4S6 276 TOTAL FUNDS CARRIED FORWARD 17 677 277 17 677 277 Rhrn0nd Church chare$ Esiate Annual Rewrt 2025 -1
RICHMOND CHURCH CHARrrY EsfATES REPORT OF THE INDEPENDENT AUDrroRS TO THE niusTEES OF RICHMOND CHURCH CHARITY EsfATES Opinion We have audit the financial statements of Chjrch Chanty Ests (the O)arrtll for the year erKJed 31 Oecemtr 2025 whth cornprise the Stment of Finwial AthTtses, the Balare Stteet arKI ftotes to the financlai 5taternents, indthjing a summary of yJnifKant accounting pdw. The financia reportiry framework that has iEen applied in their preparation is appltat4e and United King1om kCOunD Standards Iunited Kingdom GeLralty Accepted Accounting Practcel, IncI1ng fv"nano¥ RepLYbng Stsndard 102 Tr nal Rewrting Standard applicable in the UK and Reputdlc of Ireland,. The financol staterts have been wepar&J in ttCorthe wrth Accountin9 and RewrtiNJ by Charitie5 preparlng thdr accounts in accordarKe with the FinarKwl Rep)rtlw stsndarés aKae In UK and ReJ of Ireland IFRS 1021 in preferen to the Acccwntsro and Rwtyng by Charibe5'. Statement of Reccnmw¥Jed Prxfj"ce on l April 2C¥)5 which Ss referred to in the extant ulabS tten wrthjrawn. has been in order for the xcwnts to wothde a true aTrJ fJr Yew In acCOrtsr th the General kcepted Accountyry Facice effeLfjve for Tewtiw rwKx1s twinTrirs on or after l January 2015. In our oplnlw the flThaal statements.. gNe a true and fair (4 the state clthe thw6tys affalrs as at 31 DK•)tr 2025 and Its IrKomlng resour and appllcation of resour. for the year then ended., have been woperty prewred in xcordance with United Kingthrn cnerallY kcerrted AccryJnti Practice, IrKludiry Finanoal Rertira Stsnéard 102 The Finanoa RelrtIng Stsndard JFpllcJtle in the UK and Republlc of Ire14nd'; have been prepared in KcordarKe re9jirrts of the Act 2011. D•$l$ eor opSnSon We conducted oJr audbt In t£cerdano wlth InterThI Stafvjwds on ALhirong IUKI {IS45 IUKI) aTrJ L4w. Ow responitsiitses under thc6e StaardS are fvrther descrrited kn the lte¢s. reswn51tj.lths ts the audit of the finarKi statemenls seCt)n of tsjr rekK¥t. We are indeFent of the thèrity in accordJrt with ts ethlcal requIrnts that art relevant to audtt ol tr flnandl staterrthts In the UK. InclJdlThJ the FRCS Ethiol Stsndèfd. and we hswe fulfilled ow ether ethlcal re5pon51kn"Iities in acCordae wiih thtse reouirements. We bel that the èudf( dere we have obtained suirKnt and aFprowFate to de a Ws for ow Condyslonj reljllng to golng conc•m In audkn'ng the finala1 statemenrs, we haNt concluded that the use of tr p)NvJ cmtem Ws of Kcountin9 In the preparatlon of the ftnarKMIl starements s apwOat•. aased on the work we have perforrrd, we ha¥e Th)t thtified nrtaIne$ relatitYJ to Lwents ef condbtksn5 that, Individualty or tdlectively, may rast ggryficant th)U on the thanty's atx.lity to continue as a going cYJrKem for Ferlod of at least ty¥ee rTh)nihs from when the statements are is9Je. Our and the resp)rbilit cl Trustees v•th reswrt to gry'r¥J corKem a In the reTht sectyons of thls rewt othtr Informalk>n The trustees are re$Fortle fty the other in1ct. Tr thr InfcmatiM £0mw5e5 infomiation in the Annual Reprt other than the finarKhil siatemLYts aTrJ ReF#Ni of Ihe Inder¥Jent Authtors thereon. Our wnion on ts fin1 Stnts ttes Thxco¥tr ts ther iThforMatic and, exLeotD the extent otknise exFAKftJy In connecuon wth our audit of the finanoal ststements, our.respJn%trilty is to 81 the otrr informatien and, in ddng so, consider b1hettr the cr inf0Mt)n is maienally incoFSiStent with the financial $teEnts or our knowledge obtained In rhe audit or otherwLse appears to te materially misstated. If we entsfy gjth rnaterial Inconsistenoes or apparent material rnisstsrements, we are required to detem)Ine whether there is a material misstaternent in the financK41 statetnents or a material rnisstatement of the cther Inforrnati. Jf, based M the Wrk we ve performed. we condude that there is a materi2J missraten*nt of th ¢Jther in1WnK4t. &e relred to rewjrt that facL We have nothiTrJ to tN)rt in this regard. Rithrwnd Church Charitses Estate Annual Re 2025
RICHMOND CHURCH CHARITY EsfATES REPORT OF THE INDEPENDENT AUDThORS TO THE TRUSTEES OF RICHMOND CHURCH CHARrrf ESTATES Matteys on whkh wé are requlred to report by exceptkn We tsve nothing to report In r¢5Fect of tr f(Ak)ww¥J matters Whe the Prt 2011 wulres us to rewrt to you W, in OUT onien.. the informatym gw In the Rewrt ofthe Trustees in any material re$Fertth the fina1 5taternents,' suffiCrt accountln9 records have not ken kept., the financial ststements are not In agreernent wrth the xtryjrtiw rths and thms,. or we have not all the arbj expl1$ we quITe for wr •Jrt Responslblllues of trustees As eXbined more fully in the Trustees, R&Fonyts"lths Ststeml. the trustee5 we fesp)Thgt4e for thè preparath)n of the financial statements whKh give a t and fair view, and fcK gJ(h thtem& control as the tnjstees deterrnIr is necessary to enat4e the pparatfft of fina statetyents that we free from fthiknal mi5stsfrmert whether due to fraud or etTOr. In weparing the flrnaMal 5taterneThts. the trustees are rwn5Ie for asses4NJ the dwtys to conbnue a5 a going oncern, disclogng, as applicae. rnatters rdated to goir¢ ccffjcem and ugrvj the goiNJ bags of CoUnng unless the trustees either inteTrJ to Iv4uidate the charity or to cease operatkns, or have Th) rel Iternaknve t¥Jt to do 50. Our rt9ponslbllltles lor the •udlt of the fin•nclal rt•tomthts We have been appoinw as auditor under 5ecrion 144 of the Charites Act 2011 and In xcordan¢e wth the Act and relevant re9ulauons made ¢y having effert thereuTr1er. Our objectives are to obtain a$ore asyJrarKe ab)ut ¥¥tthrthe finanad 5tatementsasa whde are free from materi mlsststemwt, whètherdue to fra1 or err¢J, and to issue a Rewrt of ift Inderndent Audittys that IrludeS tr gpinion. Reasonabk assurance a hSgh of as9Jrante, but is a 9uarantee that an cduCtj In actorrlance ISA5 IUKI will aayS detett a materw misstarement when it eth. MostateMts (an adse from fra1 or error and are consktered materkl K, 1rn11vldualty or kn the aggregate. they mukl rea9)naW be exFert& to knfluence the decigons of users tsken on the ba50 of these fmarKiaf sratement Irregats.es, frthhl. are in#arKes cl wth fegukkn. We de5vJn kcedureS in line with our pSIbl1tS, outlined atw, to detect matsrrol msstennts in rw of irregularib¢s, Indudrrtj fraud. The extent to whth our wttedures Jre capatAe of detectiNJ irreguk4rrtw kndUng fraud 15 detJiloJ tdow.. The objectlves ofour a( are to and assess the rfsks of mètrrial mattrt ofthe flnand& statements due ts) fraud or error., to sufficient apwowate audit ev re9ardirvJ the assessgj n5ks of material msstatement due to fraud er error.. and to respmd apwowk41ely to those rtsk Based on tsjr understandlng of the and the sedor as a whole. and twh étscUS5i Vlith the Trustees and other management las by audltyr¥J stsrthrdsl, we thntsrd that the wncl1 risks of witti laws and regulatsons rdated to health and safety, anti-bribw emFA¢tyftnt law. We cons#lwed the eItt to rnn- 0mrjlan might have a rnaterlal effert on the fina1 statements. We so considered tIK)5e lavls and wuLatK)ns that have a Olrect impact Cm the WeporavK of finarKi¥ 5taterrthts as the Charibe5 9)RP IFRS 1021 SeCd EditlL (released Ortoter 20191, and other rdevant chanty legislati. We cc¥nmunicatsJ dentifd w5 arsd regulatior thrcughrAJt our team and remainedalertto any Inorationsof n<0k1re througfK)Uttheaudit. We evaluated Trustees, ènd managemenys Iente5 and OprtunitieS for fralUlent maniwlation of the statements lincludirg the risk of override of controls) aThl determined that ts pri1paI risks related to management bias in accountyng esty"rnates and Judgement area5 of the financial staiiyyients SLKh as the valuaDc¥i of Inveknt proFtrs. Audit prLKedure5 Ferform&1 by the eroagement team thded.. 0cUSSIonS Wrth ManagemtalKI a5sessmentof or s• In#rnsof r-C?e wf(h laws and ulatiors (irKluding heakn and safety) èthj frdud.. A55es5Wt of K1entyfied fraud rtsk faLtor5: and challgIng a5wmpty.ons ar Judgements made ty management in its signfficant aCcOunty estsmaie5.' and Obtainir4 tru5tees'valuation for the inveSDt (YLyrties wsgng the assum.05 used to ensu the luattons a Th)t ovtrstatd,. and Perfommg anatyty£•l prK&ures to wjenbfy any unLwI uwttteil rdabonthw, IUdIng rekted party tran5act)ns, that may ithte rtsks of material misstatw*rt ¢kn to frd,. 'th[[ Church (h)ribes E5tste Rewrt 2025
RICHMOND CHURCH CHARrrY EsfATES REPORT OF THE INDEPENDEP4T AUDoRs TO THE TRUSTEES OF IUCHMOND CHURCH CHAM EsfATES Confirmthn of rdated pae$ with managemeThL rev14 of tranon9 throughout the pentsj to identify any previouly undisclosed traclicS with raj partie5 rSide the nom)al cwrse of sineSs. and Reètsiry minutes of ffleeting5 of tts)se (hw wrth )Verne. Because of the inherwst Ilmtstths of an audrt. thwe 6 a r6k that wè wll not detect all irwulanties, nduding those leading to material Mlsststent Sn the finar1 #atements ¢> rth-CL¥llFdla¢ w3on. This risk irueases the mtre that compllan wth a law or regulation is r0£ from the ents and transth<s refiecbj in the financial ststèments, as we will te 95 likely to become aware of In5tarw of non-compliance. As part of an audr( in aCCordare whth ISAS ILIK). we exerctse wofessknml I aThJ mathtaln professirfft scepb'd5m thrwjhout the a1rf(. We also.. Identify and assess the risks ofrnaterkil mst0Ment Oft strt. vthether Llue to fraud ¢x error. d¢5igTr an¢ perfcm audtt wrxedures re¥lfve to thc6e riss. oLam audit &paerte that 1$ 5uffioert and approprwte to owde a bays for our onion. ottsin an undtrstarkling of internal contrc4 knrtto theaud+tln ot0 deswaudit thaapproPria sn the clrcumstanw, tr¥Jt not the wtpose of exkyesg'ng an OF4nw the effethveness of the stheme's 5nternal control. . Evaluats the apy0whatet of kx4ths used and the reJ9)TrJtr of &mate5 aTrl rdated dlsdosure5 made by the Tfustees. Conclude on the èPPToprièteness ofthe TNaee5'use 9cANJ ern l)JsLs of accounbNJ èTh1, baY on the audlt eence ottalned, whether a Mater uertainty extsts to events or condthns that may tast gnificant doubt on the scheme's )iltyto continue as a goirrfJ ccfKem. If we condude that a material uncertainty exi%ts. we are reguired to draw attentien In our audrtor's ferKrt to the relatsd dre$ in the finartlal err¢nts or, If gxh disdosure5 are Inadequate, to mojfy wr Our cc¥)dusN)ns are bJ5ed cn the audit ewdence obtained up to the date of our alIOr'S port. Pfowever, fijre events fx coThlitions may cause the scheme to Cease to contynue as a going COnrn. Evaluats the overall ttab"On, 5trucbj aThJ content of the fina Statents, inddj the disdosures, ènd whetr the finaKla statÈYnents tet the urthrfying transactiLYts arh1 e¥tnt5 in é mannw that achie¥es fair presentation. We cornrnunlcate wth those tharged with govemarKe re9ardiro. amorvJ other matters, the attned X0 tlmltY4 01 the audit and signfficant audii finding5, Includirg any defioenoes in intwnal ccfitrcl that we IdenDfy during eur a+t. UM ofour f•pt Thls reFfjrt is made soldy to the thrtrfs trust&S. a5 a IKxly, in terdance with Part 4 of the Charities (Accwnts a Rewrtsl Regulaticns 2008. Our rf( work hos undertaken so that m¥ht stste to the charlvs tNstee5 those mattets we are Vred ro state to thern ITh an A015, rt for no other purpose. To the flest eXtt permitted by law, we do not accept or assurrt rtsp)nsits"ity ro anyor* thr than the and ts trustees, as a b)ty, for our alt work, for th¢s reFo¢ or for the wnK)r& hm forffed. Kre5ton Reeves Audit LLP Eli9ible to as an awjitor in terms of ts"on 1212 (rfthe CompanRs Art 21)J6 2rd 168 Shoreditch Hvjh Street Lon(k)n EI 6RA Date.. 30 April 2026 chMd Church chare$ Esrare Ret 2025