Company Registration No. 472409
Charity Registration No. 213148
THE BRITISH AND IRISH
CHURCHES TRUST LIMITED
(A charitable company limited by guarantee)
Report and Financial Statements
31 December 2021

THE BRITISH AND IRISH CHURCHES TRUST LIMITED
(A charitable company limited by guarantee)
REPORT AND FINANCIAL STATEMENTS 2021
CONTENTS
Page
Director5 (Trustees) report
Statement of directors, responsibilities
Independent auditor's report
Statement of financial activities
Balance sheet
Statement of cash flows
10
Notes to the accounts
11- 15

THE BR￿lSH AND IRISH CHURCHES TRUST LIMITED
(A charitable company limited by guarantee)
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021
The directors present their annual report and the audited financial statements for the year
ended 31 December 2021.
Reference and adrninistrative details
Charity number
213148
Company number
472409
Registered office
Inter Church House plc
35-41 Lower Marsh
London SEI 7RL
Independent auditor
Haysmacintyre LLP
10 Queen Street Place
London EC4R 1AG
Bankers
Barclays Bank plc
1 ChurchiLI PLace
London E14 5HP
Solicitors
Bates Wells
10 Queen Street Place
London
EC4R 1BE
Directors and trustees
The directors who served during the year were as follows:
The Rt. Rev Mgr Canon N J Rothon (Chairman)
Ms Jennifer Cormack (resigned 23rd November 2021)
The Rev B Fyffe
Mr B Gnanapragasam (resigned 23rd November 2021)
Mr Martin Birch
Company secretary
Mr M Birch
Structure. Governance and Management
Governing Document
The British and Irish Churches Trust Limited is a company limited by guarantee and a
registered charity.
The principal activity of the Company is to act as custodian trustee for Churches Together in
Britain and Ireland and Christian Aid. All charitable expenditure is in relation to grants made
to the connected charities.

Connected charities
The company is connected to Churches Together in Britain and IreLand {registered charity
number 1113299) and Christian Aid (registered charity number 1105851). Recharged expenses
all derive from these connected charities. The princTpal contact address for Christian Aid is
Inter Church House, 35-41 Lower Marsh, London SE1 7RL, and the principal contact address
for Churches Together in Britain and Ireland is al50 Inter Church House, 35-41 Lower Marsh,
London SE17RL.
Funds held on behalf of others
The Company acts as a custodian trustee for Christian Aid and Churches Together in Britain
and Ireland. All assets held by the company as a custodian trustee are either as cash or
investments and are accounted for separately, including the use of separate and distinct bank
accounts.
Trustees
The Board should comprise a maximum of ten members, six nominated by Christian Aid and
four by Churches Together in Britain and Ireland. At the end of the financial year there were
seven vacancies. No Director or Secretary received any remuneration or expenses from the
Company. In accordance with the Articles of Association, one third, or the number nearest to
one third of the Directors retire from office at the Annual General Meeting and may stand for
re-election at that meeting.
Trustees of BICT Ltd are either trustees, directors or senior members of staff of Christian Aid
or Churches Together in Britain and Ireland and as such are appointed for their understanding
of charity and company law and best practice in organisational governance. Through their
respective organisations they are kept up-to-date with current rules, regulations and best
practice. New trustees are offered an induction to Christian Aid, Churches Together in Britain
and Ireland and the British and Irish Churches Trust.
Key management personnel
Day to day management of the Charity is effectively devolved by the Trustees to the Chief
Operating Officer of Christian Aid for the time being who is also appointed as Secretary to the
Trust. Key management personnel and Trustees receive no remuneration from BICT Ltd.
Accounting treatment of entity
For accounting purposes the property known as Inter Church House to which the Trust retains
legal title is treated as a joint arrangement not an entity by The British and Irish Churches
Trust Limited. On 13 December 2003 Christian Aid entered into a lease with BICT Ltd to occupy
the whole property.
Risk management
The Directors have given consideration to the rnajor risks that the company is exposed to and
assessed the likelihood of these risks occurring and the likely level of impact each risk poses.
They have also considered the controls that are in place for these risks and have identified
areas of action for the next year. This is an annual process, which the Direclors undertake to
ensure that the operations of the company are adequately protected against the risks it faces
in achieving its strategic objectives. The Director5 have taken account of the major risks to
which the charity is exposed and set in place appropriate control measures. The principal risk
is to the integrity of Inter-church House, which is managed by appropriate policies and
procedures within Christian Aid (the lessee), and by ensuring that an appropriate level of
insurance is in place and reviewed annually. The trustees recognise their responsibility for
ensuring Inter Church House is an office environment that is safe from harm and has therefore
conflrmed with Christian Aid as tenant and through Christian Aid with its sub-tenants that

appropriate policies and prLKedures for managing health, safety and security risks including
safeguarding of children and vulnerable adults are in place. monitored and regularly reviewed.
The Trustees remain satisfTed that Christian Aid has robust policTes in these areas as do other
sub-tenants in ICH.
Reserves policy
The Charity holds an unrestricted reserve of £20,000 at the balance sheet date. This is
considered by the Board to be the appropriate level of reserve to meet any liabilities in the
event of cessation of operations. It is reviewed annually to ensure that this is sufficient, but
not excessive, for meeting this requirement.
Achievements and performance. and financial review
Throughout the year the Company continued to hold assets in its role as custodTan trustee,
acting on the instructions of Churches Together in Britain and Ireland and ChrT5tian Aid. During
the year, the income generated by the Company, comprising rent, recharged expenses and
other income totalled £1,208,772 12020: E1,208,444), which after the addition of interest
receivable, ensured all costs were met.
On 7th February 2019, a resolution was signed to agree that the annual rent payable under
the lease of Inter Church House, 35-41 Lower Marsh, London SE17RL made between British
and Irish Churches Trust Limited and Christian Aid would be increased to E1,200,000 per
annum from 15 December 2018. This arrangement continued through the financial year
2021.
The British and Irish Churche5 Trust Limited acts as custodian trustee on behalf of Christian
Aid for the followlng three properties:
26 St. Leonard Road, Harrogate,
1 The Watton, Brecon, Powys (sold on 9th February 2022),
2 Preshaw Crescent, Mitcham.
Churches Together in BrTtain and Ireland has retained its equity share in the property Inter
Church House. Christian Aid leases the whole of the property from The British and Irish
Churches Trust Limited under a lease signed 27th March 2017.
Plans for future periods
The Company will continue to act as a custodian trustee for Christian Aid and Churches
Together in Britain and Ireland for the foreseeable future. The Directors consider the Company
to be a going concern.
Public benefit
The Charity Commission in its Charities and PublTC Benefit Guidance requires that there are
two key principles to be met to show that an organisation's aims are for the public benefit.
Firstly, there must be an identifiable benefit. Second, the benefit must be to the public or a
section of the public.
The Trustees confTrm that in setting the Charity's objectives and in planning its activities,
they have had due regard to the Charity Commission's guidance on public benefTt and that
they will continue to ensure each year that they will consider how the Charity continues to
meet the public benefit objectives outlined Tn the Charities Act 2011. The Trustees are
satisfied that the Charity meets the requirements and conforms with the Act's definition of a
Charity meeting all of the key eLements of the two key principles.
THE BRITISH AND IRISH CHURCHES TRUST LIMITED
(A charitable company lirnited by guarantee)

STATEMENT OF DIRECTORS. RESPONSIBILITIES
The directors are responsible for preparing the Annual Report and the financial statements.
The directors have chosen to prepare the accounts for the company in accordance with United
Kingdom Generally Accepted Accounting Practice.
Company law requires the directors to prepare such financial statements for each financial
year which give a true and fair view, in accordance with United Kingdom Generally Accepted
Accounting Practice, of the state of affairs of the company and of the income and expenditure
of the company for that period and comply with UK GAAP and the Companies Act 2006. In
preparing those financial stalements, the directors are required to:
lal
Ib)
(c)
(dl
seLect suitable accounting policies and then apply them consistently"
make judgements and estimates that are reasonable and prudent"
state whether applicable accounting standards have been followed.
prepare the financial statements on the going concern basis unless it is inappropriate
to presume that the company will continue in business.
The director5 are resF)onsible for keeping proper accounting records which disclose with
reasonable accuracy at any time the financial position of the company and to enable them to
ensure that the financial statements comply with the Companies Act 2006. They are also
responsibLe for safeguarding the assets of the company and hence for taking reasonable steps
for the prevention and detection of fraud and other irregularities.
Each of the persons who is a director at the date of approvaL of this report confirms that;
there is no relevant audit information of which the company's auditors are unaware:
and
he I she has taken all the step5 that helshe ought to have taken as a director to make
himselflherseLf aware of any reLevant audit information and to establish that the
company's auditors are aware of that information.
This confirmation is given and should be interpreted in accordance with the provisions of $418
of the Companies Act 2006.
Approved by
B&ird of Directors and signed on behalf of the Board
thon
or
M Birch
Secretary
Dir
te: 12 July 2022

Independent Auditor's Report to the Members of The British and Irish Churches Trust
Limited
Opinion
We have audited the financial statements of The British and Irish Churches Trust Limited for the year
ended 31 December 2021 which comprise the Statement of Financial Activities (incorporating an
income and expenditure account), the Balance Sheet, the Statement of Cash Flows and notes to the
financial statements, including a summary of significant accounting policies. The financial reporting
framework that has been applied in their preparation is applicable law and United Kingdom Accounting
Standards, including Financial Reportlng Standard 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:
give a true and fair view of the state of the charitable company's affairs as at 31 December
2021 and of the charitable company's net movement in funds, inclLKling the income and
expenditure, for the year then ended.
have been properly prepared in accordance with United Kingdom Generally Accepted
Accounting Practice. and
have been prepared in accordance with the requirement5 of the Companies Act 2006.
Basi5 for opiniorl
We conducted our audit in accordance with International Standards on Auditing IUKI {ISAs {UKII and
applicable law. Our responsibilities under those standards are further described in the Auditor's
responsibilities for the audit of the financial statements section of our report. We are Independent of
the charitable company in accordance with the ethical requirements that are relevant to our audit of
the financial statement5 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
evTdence 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 r￿t identified any material ur)certainties relating to
event5 or conditions that. individually or collectively, may cast significant doubt on the charitable
companys 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 trustees are responsible for the other information. The other information comprises the
information included in the Trustees, Annual Report. Our opinion on the financial statements d￿S not
cover the other information and, except to the extent other¥Yise explicitly stated in our report, we do
not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility TS to read the other
infortrTration and, in doing so, cons7der whether the other informat7on is materially inconsistent with
the financial statements or our knowledge obtained in the audit or otherwise appear5 to be materially
misstated. If we identify such material Tnconsistencies or apparent material misstatements, we are
required to determine whether there is a material misstatement in the financial statement5 or a
material misstatement of the other information. If, based on the work we have performed, we
conclude that there is a material misstatement of this other information. we are requ?red to report
that fact. We have nothing to report in this regard.

OpTnions on other rnatters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
the information given in the Trustees. Annual Report {which includes the directors. report
prepared for the purposes of company lawl for the financial year for which the finar)cial
statements are prepared is consistent with the financial statements. and
and the directors, report included within the Trustees, Annual Report have been prepared in
accordance with applicable legal requirements.
Matters orb which we are required to report by exception
In the light of the knowledge and understanding of the charitable company and its environment
obtained in the course of the audit. we have not identified material misstatements in the Tiustees,
Annual Report Iwhich incorporates the strategic report and the directors, report).
We have nothing to report in respect of the following matters in relation to which the Cornpanies Act
2006 requires us to report to you if, in our opinion:
adequate accounting records have not been kept by the charitable company. or
the charitable company financial statements are not in agreement with the accounting record5
and returns. or
certain disclosures of trustees, remuneration specified by law are not made: or
we have not received all the information and explanations we require for our audit. or
the trustees were not entitled to prepare the financial statement5 in accordance with the small
companies, regime and take advantage of the small companies. exemptions in preparing the
trustees, rewrt and from the requirement to prepare a strategic report.
Responsibilities of trustee5 for the financial statements
As explained more fully Tn the tru5tees' responsibilities statement set out on page 5, the trustees (who
are a150 the directors of the charitable company for the purtK>ses of company law) are responsible for
the preparation of the financial statements and for being satisfied that they 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. wTr￿ther due to fraLtsJ or error.
In preparing the financial statements. the tnL%tees are responsible for a55e5sing the charTtable
company's ability to continue as a going concern, disclosing, as applicable, matters related to going
concem and using the going concern basis of accounting unless the trustees either intend to liquidate
the charitable company or to cease operations, or have no realistic alternative but to do so.
Auditor's respon5ibilitie5 for the audit of the financial statements
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 a55urance, but is not a guarantee
that an audit conducted in accordance wth ISAS {UKI will always detect a material tnisstatement when
it exists. Misstatements can arise from fraud or error and are considered material if. indiwdually 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 law5 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 frathl is detailed below:
Based on our understanding of the and the environment in which it operate5, we identified that the
principal risks of non-compliance with laws and regulations related to regulatory requiretnenls of the
Charity Commission, and we considered the extent to which non-compliance might have a material
effect on the financial statements. We also considered those laws and regulations that have a direct
impact on the preparation of the financial statements such as the Companies Act 2006 and the Charities
Act2011.

We evaluated management's incentives and opportunities for fraudulent manipulation of the financial
statements lincluding the risk of override of controls), and detemiined that the principal risk5 were
related to posting inappropriate journal entries and management bias in accounting estimates and
judgements. Audit procedures performed by the engagement team included:
Inspecting correspondence with regulators and tax authorities-
Discussions with managefflent including conSTderatTon of known or suspected instances of non-
compliance with laws and regulation and fraud;
Evaluating management'5 controls designed to prevent and detect irregularities.
Identifying and testing journals, in particular journal entries posted with unusual account
combinations, postings by unusual L￿erS or with unusual descriptions. and
Challenging assumptions and judgements made by management in their critical accounting
estimates
A further description of our responsibilities for the audit of the financial statements is located on the
Financial Reporting Counal's website at: www.frc.or
.uk/auditorsres
nsibilities. This description
forms part of our auditor's report.
Use of our report
This report is made solely to the charitable cornpanls members. as a b(￿y, in accordance with Chapter
3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might State
to the charitable company's members those matters we are requTred to state to them in an Auditor's
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 charitable company and the charitable company's members, as
a tK)dy, for our audit work, for this report, or for the opinions we have formed.
Steven Harper
Senior Statutory Auditor
For and on behalf of
Hay5macintyre LLP
Statutory Auditor
London
Date.. 19 July 2022

THE BRITISH AND IRISH CHURCHES TRUST LIMITED
(A charitable company limited by guarantee)
Statement of financial activitTes (incorporating an income and expenditure account)
for the year ended 31 December 2021
2021
Unrestricted
2021
Total
2020
Unrestricted
2020
Total
Not
funds
funds
funds
funds
Income and endowments from:
Charitable activitie5
Rental income from lease
Recharged expenses
1,2(X),CIY) 1,2CK),CK)o
8.772
8,772
1.2CIJ,C
1,200,OLX)
8,444
Total
1 208 772 1 208 772
1 208 444
Expenditure on..
Charitable actlvitles
Grants to Connected CharitTes
Other
I.2(￿.c((1 1,2OJ.CI)O
8,772
8,772
1,2(K),c
1,2CKI,()J)
Totsl
1 208 772 1 208 772
1 208 444
Net incomellexpenditurel
Transfers b@tween fund5
Other recognised ga1nslllos￿I
Net movement in fun(ts
Reconciliation of funds:
Total funds brought forward
Total funds carrled forward
20,QMJO
All incoming and outgoing resources detive from continuing operations.
The only recognised gains and losses are the results inclLKied in the Statement of FinancTal Activities;
accordingly no statement of total recognised gains and losses is included.

THE BRITISH AND IRISH CHURCHES TRUST LIM￿ED
(A charitable company l?mited by guarantee)
Balance sheet
as at 31 December 2021
Note
2021
2020
Current assets
Debtors
19,644
13,(￿7
Cash at bank
128,649
122,012
Liabilities
Creditor5: amounts falling due within one year
102 012
Net current assets
20,￿)
20,(X)O
Total net assets
The funds of the charity
Unrestricted funds
20,(K)O
20,(X)O
Total funds
Approved and authorised for issue by the Board of Directors and signed on behalf of the Board of Director5
N Rothon
Director
Date
12 July 2022
Company Registration no.. 4724¢Y)

THE BRITISH AND IRISH CHURCHES TRUST LIMrrED
(A charltable company limited by guarantee)
Statement of cash flows
as at 31 December 2021
Note
2021
2020
Cash flow5 from operating activities
Net cash provided by operating activities
Change in cash and cash equlvalents in the repwting period
Cash and cash equivalents at the beginning of the reporting period
109.(X)5
109,C()5
Cash and cash equivalents at the end of the reporting period
109 005
Reconclllatlon of net Income to net cash flow from operating activities
Decreaselllncreasel in debtors
16.6371
13,2261
Increase in creditors
Net cash inflow from operating activities
Analysis of cash and cash equiyalents
Cash at bank and in hand
109,005
Total cash and cash equivalents
1(Y),(X)5
109,005
10

THE BRITISH AND IRISH CHURCHES TRUST LIMrrED
(A charitable company limited by guarantee)
Notes to the accounts
1. Accounting policies
Basis of preparation
The account5 (financial statements) have been prepared in accordance WTth the
Charities SORP (FR5102) applicable to charities preparing their accounts in accordance
with the Financial Reporting Standard applicable in the UK and Republic of Ireland and
the Charities Act 2011 (Second Edition, effective 1 January 2019) and UK Generally
Accepted Practice as it applies from 1 January 2019.
The accounts are prepared under the historical cost convention.
The Trustees believe there are no material uncertainties about the charity's ability to
continue, and therefore the accounts have been prepared under the going concern
basis.
These financial statements present the results of BICT, a charitable company
registered in England and Wales.
Income policy
All incoming resources accruing to the charity during the year are recognised in the
statement of financial activities as soon as it is prudent and practicable to do 50, when
entitled, probable and measurable. Rental Income from Lease consists of income from
Christian Aid arising from the rent of Inter Church House. All other income is derived
from recharging costs to the Charity's parent entitles.
Expenditure policy
Expenditure consists primarily of grants to Connected Charities consisting of grant5 of
income arising from the rent of Inter Church House. Other expenditure consists of
audit fees, insurance costs and minor ancillary running expenses, as set out in Note 2.
11

THE BRITISH AND IRISH CHURCHES TRUST LIMITED
(A charitable company limited by guarantee)
Notes to the accounts (continued)
Taxation
BICT as a registered charity is potentially exempt from taxation on income and gains
falling Wlthin section 466-493 of the Corporation Taxes Act 2010 and section 256 of
the Taxation of Chargeable Gain Act 1992 to the extent these are applied for
charitable purposes.
Funds
General funds are donations and other incoming resources receivable or generated for
the objects of the Charity without specified purpose.
Judgements and estimates
In the application of the charity's accounting policies, Trustees are required to make
judgements, estimates, and assumptions about the carrying values of assets and
liabilities that are not readily apparent from other sources. The estimates and
underlying assumptions are based on historical experience and other factors that are
considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an on-going basis. Revisions
to accounting estimates are recognised in the period in which the estimate is revised
if the revision affects only that period, or in the period of the revision and future
periods if the revision affects the current and future periods.
In the view of the Trustees, no assumptions concerning the future or estimation
uncertainty affecting assets and liabilities at the balance sheet date are likely to result
in a material adjustment to their carrying amounts in the next financial year. The
principal accounting policies, as set out above, have all been applied consistently
throughout the year and the preceding year
Financial Assets and Liabilities
BICT has financial assets and f inancial liabilities of a kind that qualify as basic financial
instruments. Basic financial instruments are initiaLly recognised at transaction value
and subsequently measured at amortised cost using the effective interest method.
Financial assets held at amortised cost comprise trade and other debtors. Financial
Liabilities held at amortised cost comprise, trade and other creditors.
The financial assets held at amortised cost at 31 December 2021 were £121,274 (2020:
£114,840). The financial liabilities held at amortised cost at 31 December 2021 were
£108,649 (2020: £102,012).
12

THE BRITISH AND IRISH CHURCHES TRUST LIMITED
(A charitable company limited by guarantee)
Notes to the accounts (continued)
2. Expenditure
Grants to Connected Charitie5
Grants to Connected Charities consists of grants of income arising from the rent of
Inter Church House to Christian Aid.
Other Charitable activities includes the following:
2021
2020
Charge for Light and Space
Insurance premiums
Auditorfs remuneration - audit
fees
Bank Charges
150
7,842
150
7,514
780
780
8,772
8,444
There were no employees in BICT, in the current
or previous year.
Net incomel(expenditure)
Net incomel(expenditure) for the year is stated after charging".
2021
2020
Auditor's remuneration audit fees (net of VAT)
650
650
Key management personneL and Trustees receive no remuneration from BICT Ltd.
4. DEBTORS
2021
2020
Prepayments
Christian Aid - current account
CTBI current Account
7,375
7,172
12,269
5,835
19,644
13,007
13

THE BRITISH AND IRISH CHURCHES TRUST LIMITED
(A charitable company limited by guarantee)
Notes to the accounts {continued>
2021
2020
5. CREDITORS
Accruals
Christian Aid current account
94,248
14,401
108 649
90,186
102 012
6. RELATED PARTY TRANSACTIONS
Related party transactions in the year consisted of the recharging of expenses and
grants of income arising from the rent of Inter Church House to Christian Aid.
There have been no related party transactions that require disclosure other than
transactions with connected charities. as follows:
2021
2020
Payments received from connected charities for rent:
Christian Aid
1,200 000
1,200,000
Grants made to connected charities of rent received:
Christian Aid
Churches Together in Britain and Ireland
856,956
853,533
1,200,000
1,200 000
Amounts due Ito)/from connected charities at balance sheet date:
Recharged expenses
Christian Aid
Churches Together Tn Britain and Ireland
Payment of insurance premium on behalf of BICT Ltd
6,250
2,522
6,016
2,428
Christian Aid
Payment of audit fees on behalf of BICT Ltd
Christian Aid
(8,045)
17,824)
(7801
53
780
160
14

7. CUSTODIAN TRUSTEE
The Trust holds as custodian trustee the freeholds of the office property known as
Inter Church House and a nurnber of residential properties, on behalf of
Christian Aid and CTBI.
15