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`CONTENTS`
	`PAGE`
`REPORTTOTHETRUSTEES`	`1`
`INDEPENDENTEXAMINERSREPORT`	`2`
`GENERALINFORMATION`	`3-4`
`FINANCIALSTATEMENTS`
`NotestotheFinancialStatements`	`5`
`BalanceSheet`	`6`
`StatementofFinancialActivities`	`7`
`CapitalAccount`	`8`
`IncomeAccount`	`9`
`ScheduleofDistributions`	`10-11`
`ScheduleofCreditors`	`12`
`ScheduleofStocksandShares`	`13-17`

30 January

	`2025`	`2024`
`Stocksandshares`	`1,336,031.00`	`1,266,367.00`
`WinckworthSherwoodclientdepositaccount`	`(4,114.07)`	`(1,545.88)`
`Depositsheldforpersonalallocationsasfollows:-`
`TimothyJohnBriden`	`1,090.00`	`1,090.00`
`AidenRichardHargreaves-Smith`	`2,290.00`	`2,290.00`
`SarahFrancesJonesKC`	`1,590.00`	`1,590.00`
`Rathbonescashheld`	`15,091.28`	`8,581.41`
`HMRC-` `giftAid`	`1,250.00`	`1,250.00`
`Less:-`
`Creditors- perscheduleonpage12`	`(10,310.00)`	`(10,544.00)`
	`£1,342,918.21`	`£1,269,078.53`
`Thisisrepresentedby:-`
`CAPITALACCOUNT(Page8)`	`1,342,918.21`	`1,269,078.53`
`INCOMEACCOUNT(Page9)`	`0.00`	`0.00`
	`£1,342,918.21`	`£1,269,078.53`

`IncomeandExpenditure`	`Capital`	`Income`	`TotalFunds`	`2024`
`Incomingresources`
`Invesimentincome`	`0.00`	`26,818.46`	`26,818.46`	`28,720.32`
`Donations`	`0.00`	`100.00`	`100.00`	`5,000.00`
`HMRCGiftAid`	`0.00`	`0.00`	`0.00`	`1,250.00`
`Transfer`	`27,160.46`	`(27,160.46)`	`0.00`	`0.00`
`Grossinterest`	`0.00`	`242.00`	`242.00`	`403.37`
`Totalincomingresources`	`27,160.46`	`(0.00)`	`27,160.46`	`35,373.69`
`Resourcesused`
`Directcharitableexpenditure`
`Distributionsmade(Scheduleon`
`page10)`	`21,883.83`	`0.00`	`21,883.83`	`23,850.00`
`Otherexpenditure`	`0.00`	`0.00`	`0.00`	`0.00`
`Administrationcosts`	`25,174.87`	`0.00`	`25,174.87`	`27,402.26`
`Totalresourcesused`	`47,058.70`	`0.00`	`47,058.70`	`51,252.26`
`Netincoming/(outgoing)resources`
`fortheyear`	`(19,898.24)`	`(0.00)`	`(19,898.24)`	`(15,878.57)`
`Otherrecognisedgainsandlosses`
`Gainsandtossesoninvestments:-`
`Realised`	`12,985.62`	`0.00`	`12,985.62`	`41,047.04`
`Unrealised`	`80,752.30`	`0.00`	`80,752.30`	`51,336.57`
`Netmovementinfunds`	`73,839.68`	`(0.00)`	`73,839.68`	`46,505.04`
`Balancesbroughtforwardat`
`istJanuary2025`	`4,269,078.53`	`0.00`	`4,269,078.53`	`1,222,573.49`
`Balancescarriedforwardat`
`31stDecember2025`	`£1,342,918.21`	`(£0.00)`	`=£1,342,918.21`	`£1,269,078.53`

	`2025`	`2024`
`BalancebroughtforwardatistJanuary2025`	`1,269,078.53`	`1,222,573.49`
`Add:-`
`Revaluationofstocksandshares`	`80,752.30`	`51,336.57`
`Transferfromincome`	`27,160.46`	`35,373.69`
`Profitonsaleofstockandshares(Page17)`	`12,985.62`	`11,047.04`
	`1,389,976.91`	`1,320,330.79`
`Less:-`
`Distributions(Page710)`	`21,883.83`	`23,850.00`
`WinckworthSherwood- Legal,accountancy,taxationand`
`administrationchargesanddisbursements`	`11,750.00`	`11,995.00`
`VATthereon`	`2,350.00`	`2,399.00`
`Bankandphotocopyingcharges`	`102.40`	`118.20`
`Newton& Garnerauditfees`	`1,200.00`	`71,150.00`
`VATthereon`	`240.00`	`230.00`
`Rathbones`
`Investmentmanagementcharges`	`9,532.47`	`11,510.06`
`Balancecarriedforwardat31stDecember2025`	`£1,342,918.21`	`£1,269,078.53`

	`2025`	`2024`
`BalancebroughtforwardatistJanuary2025`	`0.00`	`0.00`
`Dividendsandinterest(Page17)`	`26,867.82`	`28,720.32`
`DonationfromDrSheilaCameron`	`0.00`	`5,000.00`
`Giftaiddueondonation`	`0.00`	`1,250.00`
`DonationfromMrG P andMrsK E Handley`	`400.00`	`0.00`
`WinckworthSherwood- grossinterest`	`92.04`	`43.38`
`Rathbones- grossinterest`	`149.96`	`359.99`
	`27,209.82`	`35,373.69`
`Less:-`
`Dividendaccumulated`	`49.36`	`0.00`
`Transfertocapital`	`27,160.46`	`35,373.69`
`Balancecarriedforwardasat31stDecember2025`	`£0.00`	`£0.00`

	`Total`
`BishopofManchester`	`1,500.00`
`BishopofNewcastle`	`4,500.00`
`BishopofOxford`	`1,500.00`
`BishopofPeterborough`	`1,500.00`
`BishopofPortsmouth`	`1,500.00`
`BishopofRochester`	`1,500.00`
`BishopofSt.Edmundsbury& Ipswich`	`1,500.00`
`BishopofSheffield`	`1,500.00`
`BishopofSouthwark`	`1,500.00`
`BishopofSouthwellandNottingham`	`1,500.00`
`BishopofTruro`	`1,500.00`
`Revd.JonathanFrith`	`4,000.00`
`RevdAugustineNwaekwe`	`533.83`
`Revd.JulieKnhovacs`	`800.00`
`Revd.C CClayton`	`1,550.00`
`RevdMarkHudghton`	`1,500.00`
`Totaldistributed`	`£21,883.83`

	`SF`	`AR`	`TJ`
	`Jones`	`Harqreaves-Smith`	`Briden`	`Total`
`Balancebroughtforward`	`4,590.00`	`2,290.00`	`1,090.00`	`4,970.00`
`Addallocation`	`0.00`	`0.00`	`0.00`	`0.00`
	`1,590.00`	`2,290.00`	`1,090.00`	`4,970.00`
`Lessdistributions`
`Balancecarriedforward`	`£1,590.00`	`£2,290.00`	`£1,090.00`	`£4,970.00`

	`2025`	`2024`
`Fundsavailablefordistribution:-`
`ARHS- seepage11`	`2,290.00`	`2,290.00`
`TJB- seepage11`	`1,090.00`	`1,090.00`
`SFJ- seepage11`	`4,590.00`	`1,590.00`
`Newton& Garnerauditfees`	`1,200.00`	`1,150.00`
`VATthereon`	`240.00`	`230.00`
`Legal,accountancy,taxationand`
`administrationchargesanddisbursements`	`3,250.00`	`3,495.00`
`VATthereon`	`650.00`	`699.00`
	`£10,310.00`	`£10,544.00`

					`INCOME`			`75.00`	`75.00`			`425.00`			`87.50`				`250.00`					`310.18`	`683.05`		`426.10`	`409.65`	`428.10`			`438.90`	`395.50`	`414.75`	`434.70`		`291,20`	`126.75`	`§,271.38`
					`DATE`			`22.04.25`	`22.10.25`			`08.12.25`			`31.07.25`				`22.04.25`					`11.02.25`	`42.08.25`		`31.03.25`	`41.07.25`	`30.09.25`			`15.01.25`	`15.04.25`	`48.07.25`	`15.10.25`		`19.06.25`	`11.09.25`
				`MARKETVALUE`	`31.12.2025`			`34,001`				`20,245`					`39,288`							`47A424`				`31,200`				`29,505`					`49,630`		`221,293`
`THECLERGYRESTFUND`	`SCHEDULEOFSTOCKSANDSHARES`	`FORTHEPERIOD18STJANUARY2025TO31STDECEMBER2025`	`TRANSACTIONS`	`NOMINAL` `MARKETVALUE` `cost!` `PROFIT` `BOOKVALUE`	`04.01.2025` `(PROCEEDS)` `(LOSS)` `31.12.2025`			`£40,000.00` `32,215.00` `32,215.00`				`£20,000.00` `20,154.44` `20,154.44`			`£20,000.00` `15,105.32`	`£30,000.00` `22,848.47`	`£50,000.00` `37,953.79`		`£100,000.00` `28,256.00`	`(£400,000.00)` `(24,558.66)` `(3,697.34)`			`60,000` `45,924.00`	`(504.00)` `45,420.00`				`25,000` `30,150.00` `30,150.00`				`3,500` `28,980.00` `28,980.00`					`650` `23,585.00` `23,585.00`		`189,110.00` `33,045.57` `(3,697.34)` `218,458.23` `-413-`
						`UKConventionalGovernmentBonds`	`UK(Govtof)`	`0.375%Snr22/10/30GBP100`		`UK(Govtof)`	`41/4%Stock7/06/2032`	`Bought28.08.2025`	`UK(Govtof}`	`0.875%Snr31/07/33GBP100`	`Bought10.02.2025`	`Bought28.08.2025`		`UK(Govtof}`	`0.5%Snr22/10/2064GBP100`	`Sold28.08.2025`	`OverseasConventionalGovernmentBonds`	`BNYMellonGibFds`	`GlobalBondZ GBPIncHgd`	`Equalisation11.02.2025`		`UKInvestmentGradeBonds`	`ROYALLONDON`	`UTMSterlingCreditZ`		`OverseasInvestmentGradeBonds`	`JUPITERUTMANAGERS`	`JupiterGlobalDymamicBond`			`UKEquities`	`RelxPle`	`GBP0.1444`		`Balancedcarriedforward`

					`INCOME`	`§,271.38`		`420.00`	`191.75`			`819.59`	`221.00`	`220.69`	`168.93`		`314.20` `133.60`		`220.36`	`335.37`				`207.63`	`213.79` `215.38`	`216.04`		`90.00` `112.96`		`102.57`	`204.95`		`703.95`	`434.32`	`10,818.46`
					`DATE`			`24.03.25`	`10.09.25`			`25.04.25`	`01.07.25`	`26.09.25`	`18.12.25`		`27.02.25` `31.07.25`		`24.04.25`	`04.12.25`				`28.03.25`	`16.06.25` `42.09.25`	`05.12.25`		`04.02.25` `45.08.25`		`07.02.25`	`18.07.25`		`17.04.25`	`25.09.25`
				`MARKETVALUE`	`31.12.2025`	`221,293`				`34,475`					`26,414`		`18,912`		`41,225`			`4,295`			`23,714`			`21,228`		`21,860`			`23,976`		`404,389`
`THECLERGYRESTFUND`	`SCHEDULEOFSTOCKSANDSHARES`	`FORTHEPERIOD18STJANUARY2025TO31STDECEMBER2025`	`TRANSACTIONS`	`NOMINAL` `MARKETVALUE` `cosT/` `PROFIT` `BOOKVALUE`	`01.01.2025` `489,110.00` `(PROCEEDS)` `33,045.57` `(LOSS)` `(3,697.34)` `31.12.2025` `218,458.23`			`300` `(50)` `31,398.00` `(5,803.30)` `570.30`		`250` `26,165.00`	`4,000` `(1,000)` `750` `2,250` `31,416.00` `(8,488.80)` `(7,163.85)` `634.80` `1,273.35` `17,671.50`					`1,000` `200` `800` `26,605.00` `(5,529.96)` `208.96` `21,284.00`		`700` `17,761.00` `17,761.00`			`110` `522.00` `522.00`		`550` `(62)` `488` `25,011.00` `(522.00)` `(43.28)` `24,445.72`				`1,000` `(200)` `200` `600` `26,905.00` `(5,709.01)` `(6,574.40)` `328.01` `4,193.40` `16,143.00`			`650` `22,422.00` `22,422.00`			`400` `18,893.00` `18,893.00`		`389,521.00` `(6,267.03)` `~14-` `511.48` `383,765.45`
						`Balancedbroughtforward`	`ASTRAZENECAPLC`	`Ordinaryshares`	`Sold07.02.2025`		`HSBCHOLDINGSPLC`	`Ordinary$0.50shares`	`Sold07.02.2025`	`Sold29.08.2025`		`CompassGroupPLC`	`Ordinaryshares` `Sold07.202.2025`	`DIAGEOPLC`	`Ordinary0.28101/108pshares`		`MagnumIceCreamCO`	`NPVshares- fromUnileverdemerger`	`UNILEVERPLC`	`Ordinaryshares` `Demerger- Magnum` `Fractionalpayment29.12.2025`			`Halma`	`OrdinaryShares` `Sold07.02.2025` `Sold29.08.2025`	`ExperianPLC`	`Ordinaryshares`		`RioTinto`	`OrdGBPO.10`		`Balancedcarriedforward`

						`INCOME`	`10,818.46`		`208.43`	`198.08`	`199.65`	`201.38`		`265.00`	`§37.50`		`198.76`	`537.81`		`140.00`	`84.00`		`305.90`					`4,123.44`					`9.21`				`14,827` `62`
						`DATE`			`24.03.25`	`23.06.25`	`22.09.25`	`18.12.25`		`28.02.25`	`48,09.25`		`05.06.25`	`04.12.25`		`13.05.25`	`15.09.25`		`28.05.25`					`44.11.25`					`04.07.25`
				`MARKETVALUE`		`31.12.2025`	`404,389`		`20,550`					`27,238`			`25,975`												`86,040`		`79,251`		`61,020`			`36,921`	`741,384`
`THECLERGYRESTFUND`	`SCHEDULEOFSTOCKSANDSHARES`	`FORTHEPERIOD1STJANUARY2025TO31STDECEMBER2025`	`TRANSACTIONS`		`NOMINAL` `MARKETVALUE` `cosT/` `PROFIT` `BOOKVALUE`	`04.01.2025` `PROCEEDS` `(LOS$s)` `31.12.2025`	`389,521.00` `(6,267.03)` `511.48` `383,765.45`		`750` `18,572.00` `18,572.00`					`4,250` `20,103.00` `20,103.00`			`25,000` `25,400.00` `25,400.00`			`3,500` `19,373.00`	`(3,500)` `(20,738.94)` `1,365.94`		`1,750` `17,346.00`	`(1,750)` `(23,701.31)` `6,355.31`		`4,000` `59,160.00`		`2,000` `27900.00`	`6,000` `87,060.00`		`450` `79,648.00` `79,648.00`		`30,000` `61,590.00` `61,590.00`			`30,000` `33,498.00` `33,498.00`	`690,713.00` `10,690.72` `8,232.73` `709,636.45`	`-15-`
							`Balancedbroughtforward`	`ShellPic` `EUR0.07`					`SSEPle`	`GBP0.50`		`FranklinTmpitnFd`	`FranklinUKMidCapS Dis`		`MelroseIndustria!Pic`	`OrdGBP0.06857143`	`Sold29.08.2025`	`Smith& Nephew`	`OrdUSD`	`Sold14.08.2025`	`NorthAmericanInvestments`	`BrownAdvisoryFund`	`BGUSvalueFund`	`Bought15.08.2025`		`Findlay ParkFunds`	`AmericanUSDDis`	`SchroderUnitTrust`	`USSmallerCosZ Inc`	`EuropeanInvestments`	`LIONTRUSTFUNDPARTNERS`	`EuropeanDynamicought02.09.2025`	`Balancedcarriedforward`

			`INCOME`	`14,827.62`				`60.64`	`481.44`		`114.32`	`353.87`	`49.36`			`95.20`	`95.20`	`95.20`	`272.04`	`100.80`	`100.80`	`100.80`	`100.80`	`100.80`	`100.80`	`100.80`	`100.80`		`117.57`	`98.24`				`516.00`	`1,293.06`	`19,276.16`
			`DATE`					`31.01.25`	`04.08.25`		`04.02.25`	`04.08.25`	`01.02.25`			`17.01.25`	`18.02.25`	`18.03.25`	`17.04.25`	`16.05.25`	`19.06.25`	`21.07.25`	`20.08.25`	`48.09.25`	`18.10.25`	`48.11.25`	`18.12.25`		`28.02.25`	`04.09.25`				`09.04.25`	`09.40.25`
			`MARKETVALUE` `31.12.2025`	`741,384`		`32,230`					`31,422`		`27,593`			`53,040`													`64,660`			`45,526`		`46,880`		`1,042,735`
`THECLERGYRESTFUND`	`SCHEDULEOFSTOCKSANDSHARES`	`FORTHEPERIOD1STJANUARY2025TO31STDECEMBER2025`	`NOMINAL` `MARKETVALUE` `01,04.2025` `TRANSACTIONS` `COST!` `(PROCEEDS)` `PROFIT` `BOOKVALUE` `(LOSS)` `31.12.2025`	`680,713.00` `10,690.72` `8,232.73` `709,636.45`		`40,000.00` `31,990.00` `31,990.00`		`20,000.00` `27,680.00`	`(20,000.00)` `(31,640.00)` `3,960.00`		`10,000` `25,171.00` `25,171.00`		`2,500` `26,900.00` `26,900.00`			`40,000` `47,320.00` `47320.00`													`40,000` `64,306.00` `64,306.00`			`20,000` `41,650.00` `41,650.00`		`20,000` `38,464.00` `38,464.00`		`994,194.00` `(20,949.28)` `-16-` `12,192.73` `985,437.45`
				`Balancedbroughtforward`	`PremierPortfolioOM`	`EuropeanOppsF Acc`	`JHInvestmentFundsSrs`	`EuropeSelectedOppsFund`	`Sold01.09.2025`	`AsiaPacificInvestments`	`FedrtdHrmsInvFHAsiaExJpnEq F2GBP`		`FirstSentier[nvS]AsiaPacificLdrsSustB`	`GlobalInvestments`	`FidelityInvstFds`	`FidGb!DivFdR Mdis`												`FUNDSMITHLLP`	`Equity` `\|IncomeNAV`		`GemcapInvestment`	`AhfmDefinedReturns` `BGBP`	`LAZARDGLOBAL`	`ActiListedinfraEquitDis`		`Balancedcarriedforward`

					`INCOME`	`19,276.16`			`92.16`		`§50.00`	`945.00`			`120.00`	`120.00`		`700.00`	`700.00`	`700.00`	`700.00`	`1,466.50`	`749.00`	`749.00`											`£26867.82`
					`DATE`				`09.04.25`		`28.02.25`	`29.08.25`			`28.02.25`	`29.08.25`		`11.03.25`	`05.06.25`	`03.09.25`	`08.12.25`	`14.06.25`	`15.09.25`	`16.12.25`
				`MARKETVALUE`	`31.12.2025`	`1,042,735`			`51,104`				`52,088`		`42,100`				`29,760`				`43,820`					`40,727`		`33,700`					`£1,336,031`
`THECLERGYRESTFUND`	`SCHEDULEOFSTOCKSANDSHARES`	`FORTHEPERIOD1STJANUARY2025TO31STDECEMBER2025`	`TRANSACTIONS`	`NOMINAL` `MARKETVALUE` `COST!` `PROFIT` `BOOKVALUE`	`04.01.2025` `{PROCEEDS}` `(LOSS)` `31.12.2025`	`994,194.00` `(20,949.28)` `12,192.73` `985,437.45`			`300` `48,559.00` `48,559.00`		`25,000` `47,650.00`	`(2,500)` `(8,130.09)` `365.09`	`22,500` `42,885.00`		`10,000` `34,750.00` `34,750.00`				`40,000` `28,160.00` `28,160.00`				`35,000` `42,455.00` `42,455.00`			`300.00` `(75.00)` `53,343.00` `(13,757.55)` `421.80`		`225.00` `40,007.25`		`25,000` `33,025.00` `33,025.00`			`20,000` `(20,000)` `17,256.00` `(17,262.00)` `6.00`		`£1,266,367.00` `(£24,073.92)` `£12,985.62` `£1,255,278.70`	`-17-`
						`Balancedbroughtforward`	`LazardGlobal`	`ActiThermaticFocusE GBPDis`		`POLARCAPITAL`	`Capita!GlobalFinancialsTrust`	`Sold07.02.2025`		`POLARCAPITAL`	`Global HealthOrdinary25p`		`InfrastructureFunds`	`GCPInfrastructure`	`OrdGBPO.01`			`INTPublicPartner`	`Ordinaryshares`		`AspectUcitsFunds`	`DiversifiedTrendsP` `Instl`	`Sold11.02.2025`		`JanusHendersonInvestments`	`Bought01.09.2025`	`InternationalPrope`	`SchroderUnitTst`	`GlobalReaiEstZ Inc`	`Sold02.08.2025`

`CONTENTS`
	`PAGE`
`REPORTTOTHETRUSTEES`	`1`
`INDEPENDENTEXAMINERSREPORT`	`2`
`GENERALINFORMATION`	`3-4`
`FINANCIALSTATEMENTS`
`NotestotheFinancialStatements`	`5`
`BalanceSheet`	`6`
`StatementofFinancialActivities`	`7`
`CapitalAccount`	`8`
`IncomeAccount`	`9`
`ScheduleofDistributions`	`10-11`
`ScheduleofCreditors`	`12`
`ScheduleofStocksandShares`	`13-17`

30 January

	`2025`	`2024`
`Stocksandshares`	`1,336,031.00`	`1,266,367.00`
`WinckworthSherwoodclientdepositaccount`	`(4,114.07)`	`(1,545.88)`
`Depositsheldforpersonalallocationsasfollows:-`
`TimothyJohnBriden`	`1,090.00`	`1,090.00`
`AidenRichardHargreaves-Smith`	`2,290.00`	`2,290.00`
`SarahFrancesJonesKC`	`1,590.00`	`1,590.00`
`Rathbonescashheld`	`15,091.28`	`8,581.41`
`HMRC-` `giftAid`	`1,250.00`	`1,250.00`
`Less:-`
`Creditors- perscheduleonpage12`	`(10,310.00)`	`(10,544.00)`
	`£1,342,918.21`	`£1,269,078.53`
`Thisisrepresentedby:-`
`CAPITALACCOUNT(Page8)`	`1,342,918.21`	`1,269,078.53`
`INCOMEACCOUNT(Page9)`	`0.00`	`0.00`
	`£1,342,918.21`	`£1,269,078.53`

`IncomeandExpenditure`	`Capital`	`Income`	`TotalFunds`	`2024`
`Incomingresources`
`Invesimentincome`	`0.00`	`26,818.46`	`26,818.46`	`28,720.32`
`Donations`	`0.00`	`100.00`	`100.00`	`5,000.00`
`HMRCGiftAid`	`0.00`	`0.00`	`0.00`	`1,250.00`
`Transfer`	`27,160.46`	`(27,160.46)`	`0.00`	`0.00`
`Grossinterest`	`0.00`	`242.00`	`242.00`	`403.37`
`Totalincomingresources`	`27,160.46`	`(0.00)`	`27,160.46`	`35,373.69`
`Resourcesused`
`Directcharitableexpenditure`
`Distributionsmade(Scheduleon`
`page10)`	`21,883.83`	`0.00`	`21,883.83`	`23,850.00`
`Otherexpenditure`	`0.00`	`0.00`	`0.00`	`0.00`
`Administrationcosts`	`25,174.87`	`0.00`	`25,174.87`	`27,402.26`
`Totalresourcesused`	`47,058.70`	`0.00`	`47,058.70`	`51,252.26`
`Netincoming/(outgoing)resources`
`fortheyear`	`(19,898.24)`	`(0.00)`	`(19,898.24)`	`(15,878.57)`
`Otherrecognisedgainsandlosses`
`Gainsandtossesoninvestments:-`
`Realised`	`12,985.62`	`0.00`	`12,985.62`	`41,047.04`
`Unrealised`	`80,752.30`	`0.00`	`80,752.30`	`51,336.57`
`Netmovementinfunds`	`73,839.68`	`(0.00)`	`73,839.68`	`46,505.04`
`Balancesbroughtforwardat`
`istJanuary2025`	`4,269,078.53`	`0.00`	`4,269,078.53`	`1,222,573.49`
`Balancescarriedforwardat`
`31stDecember2025`	`£1,342,918.21`	`(£0.00)`	`=£1,342,918.21`	`£1,269,078.53`

	`2025`	`2024`
`BalancebroughtforwardatistJanuary2025`	`1,269,078.53`	`1,222,573.49`
`Add:-`
`Revaluationofstocksandshares`	`80,752.30`	`51,336.57`
`Transferfromincome`	`27,160.46`	`35,373.69`
`Profitonsaleofstockandshares(Page17)`	`12,985.62`	`11,047.04`
	`1,389,976.91`	`1,320,330.79`
`Less:-`
`Distributions(Page710)`	`21,883.83`	`23,850.00`
`WinckworthSherwood- Legal,accountancy,taxationand`
`administrationchargesanddisbursements`	`11,750.00`	`11,995.00`
`VATthereon`	`2,350.00`	`2,399.00`
`Bankandphotocopyingcharges`	`102.40`	`118.20`
`Newton& Garnerauditfees`	`1,200.00`	`71,150.00`
`VATthereon`	`240.00`	`230.00`
`Rathbones`
`Investmentmanagementcharges`	`9,532.47`	`11,510.06`
`Balancecarriedforwardat31stDecember2025`	`£1,342,918.21`	`£1,269,078.53`

	`2025`	`2024`
`BalancebroughtforwardatistJanuary2025`	`0.00`	`0.00`
`Dividendsandinterest(Page17)`	`26,867.82`	`28,720.32`
`DonationfromDrSheilaCameron`	`0.00`	`5,000.00`
`Giftaiddueondonation`	`0.00`	`1,250.00`
`DonationfromMrG P andMrsK E Handley`	`400.00`	`0.00`
`WinckworthSherwood- grossinterest`	`92.04`	`43.38`
`Rathbones- grossinterest`	`149.96`	`359.99`
	`27,209.82`	`35,373.69`
`Less:-`
`Dividendaccumulated`	`49.36`	`0.00`
`Transfertocapital`	`27,160.46`	`35,373.69`
`Balancecarriedforwardasat31stDecember2025`	`£0.00`	`£0.00`

	`Total`
`BishopofManchester`	`1,500.00`
`BishopofNewcastle`	`4,500.00`
`BishopofOxford`	`1,500.00`
`BishopofPeterborough`	`1,500.00`
`BishopofPortsmouth`	`1,500.00`
`BishopofRochester`	`1,500.00`
`BishopofSt.Edmundsbury& Ipswich`	`1,500.00`
`BishopofSheffield`	`1,500.00`
`BishopofSouthwark`	`1,500.00`
`BishopofSouthwellandNottingham`	`1,500.00`
`BishopofTruro`	`1,500.00`
`Revd.JonathanFrith`	`4,000.00`
`RevdAugustineNwaekwe`	`533.83`
`Revd.JulieKnhovacs`	`800.00`
`Revd.C CClayton`	`1,550.00`
`RevdMarkHudghton`	`1,500.00`
`Totaldistributed`	`£21,883.83`

	`SF`	`AR`	`TJ`
	`Jones`	`Harqreaves-Smith`	`Briden`	`Total`
`Balancebroughtforward`	`4,590.00`	`2,290.00`	`1,090.00`	`4,970.00`
`Addallocation`	`0.00`	`0.00`	`0.00`	`0.00`
	`1,590.00`	`2,290.00`	`1,090.00`	`4,970.00`
`Lessdistributions`
`Balancecarriedforward`	`£1,590.00`	`£2,290.00`	`£1,090.00`	`£4,970.00`

	`2025`	`2024`
`Fundsavailablefordistribution:-`
`ARHS- seepage11`	`2,290.00`	`2,290.00`
`TJB- seepage11`	`1,090.00`	`1,090.00`
`SFJ- seepage11`	`4,590.00`	`1,590.00`
`Newton& Garnerauditfees`	`1,200.00`	`1,150.00`
`VATthereon`	`240.00`	`230.00`
`Legal,accountancy,taxationand`
`administrationchargesanddisbursements`	`3,250.00`	`3,495.00`
`VATthereon`	`650.00`	`699.00`
	`£10,310.00`	`£10,544.00`

					`INCOME`			`75.00`	`75.00`			`425.00`			`87.50`				`250.00`					`310.18`	`683.05`		`426.10`	`409.65`	`428.10`			`438.90`	`395.50`	`414.75`	`434.70`		`291,20`	`126.75`	`§,271.38`
					`DATE`			`22.04.25`	`22.10.25`			`08.12.25`			`31.07.25`				`22.04.25`					`11.02.25`	`42.08.25`		`31.03.25`	`41.07.25`	`30.09.25`			`15.01.25`	`15.04.25`	`48.07.25`	`15.10.25`		`19.06.25`	`11.09.25`
				`MARKETVALUE`	`31.12.2025`			`34,001`				`20,245`					`39,288`							`47A424`				`31,200`				`29,505`					`49,630`		`221,293`
`THECLERGYRESTFUND`	`SCHEDULEOFSTOCKSANDSHARES`	`FORTHEPERIOD18STJANUARY2025TO31STDECEMBER2025`	`TRANSACTIONS`	`NOMINAL` `MARKETVALUE` `cost!` `PROFIT` `BOOKVALUE`	`04.01.2025` `(PROCEEDS)` `(LOSS)` `31.12.2025`			`£40,000.00` `32,215.00` `32,215.00`				`£20,000.00` `20,154.44` `20,154.44`			`£20,000.00` `15,105.32`	`£30,000.00` `22,848.47`	`£50,000.00` `37,953.79`		`£100,000.00` `28,256.00`	`(£400,000.00)` `(24,558.66)` `(3,697.34)`			`60,000` `45,924.00`	`(504.00)` `45,420.00`				`25,000` `30,150.00` `30,150.00`				`3,500` `28,980.00` `28,980.00`					`650` `23,585.00` `23,585.00`		`189,110.00` `33,045.57` `(3,697.34)` `218,458.23` `-413-`
						`UKConventionalGovernmentBonds`	`UK(Govtof)`	`0.375%Snr22/10/30GBP100`		`UK(Govtof)`	`41/4%Stock7/06/2032`	`Bought28.08.2025`	`UK(Govtof}`	`0.875%Snr31/07/33GBP100`	`Bought10.02.2025`	`Bought28.08.2025`		`UK(Govtof}`	`0.5%Snr22/10/2064GBP100`	`Sold28.08.2025`	`OverseasConventionalGovernmentBonds`	`BNYMellonGibFds`	`GlobalBondZ GBPIncHgd`	`Equalisation11.02.2025`		`UKInvestmentGradeBonds`	`ROYALLONDON`	`UTMSterlingCreditZ`		`OverseasInvestmentGradeBonds`	`JUPITERUTMANAGERS`	`JupiterGlobalDymamicBond`			`UKEquities`	`RelxPle`	`GBP0.1444`		`Balancedcarriedforward`

					`INCOME`	`§,271.38`		`420.00`	`191.75`			`819.59`	`221.00`	`220.69`	`168.93`		`314.20` `133.60`		`220.36`	`335.37`				`207.63`	`213.79` `215.38`	`216.04`		`90.00` `112.96`		`102.57`	`204.95`		`703.95`	`434.32`	`10,818.46`
					`DATE`			`24.03.25`	`10.09.25`			`25.04.25`	`01.07.25`	`26.09.25`	`18.12.25`		`27.02.25` `31.07.25`		`24.04.25`	`04.12.25`				`28.03.25`	`16.06.25` `42.09.25`	`05.12.25`		`04.02.25` `45.08.25`		`07.02.25`	`18.07.25`		`17.04.25`	`25.09.25`
				`MARKETVALUE`	`31.12.2025`	`221,293`				`34,475`					`26,414`		`18,912`		`41,225`			`4,295`			`23,714`			`21,228`		`21,860`			`23,976`		`404,389`
`THECLERGYRESTFUND`	`SCHEDULEOFSTOCKSANDSHARES`	`FORTHEPERIOD18STJANUARY2025TO31STDECEMBER2025`	`TRANSACTIONS`	`NOMINAL` `MARKETVALUE` `cosT/` `PROFIT` `BOOKVALUE`	`01.01.2025` `489,110.00` `(PROCEEDS)` `33,045.57` `(LOSS)` `(3,697.34)` `31.12.2025` `218,458.23`			`300` `(50)` `31,398.00` `(5,803.30)` `570.30`		`250` `26,165.00`	`4,000` `(1,000)` `750` `2,250` `31,416.00` `(8,488.80)` `(7,163.85)` `634.80` `1,273.35` `17,671.50`					`1,000` `200` `800` `26,605.00` `(5,529.96)` `208.96` `21,284.00`		`700` `17,761.00` `17,761.00`			`110` `522.00` `522.00`		`550` `(62)` `488` `25,011.00` `(522.00)` `(43.28)` `24,445.72`				`1,000` `(200)` `200` `600` `26,905.00` `(5,709.01)` `(6,574.40)` `328.01` `4,193.40` `16,143.00`			`650` `22,422.00` `22,422.00`			`400` `18,893.00` `18,893.00`		`389,521.00` `(6,267.03)` `~14-` `511.48` `383,765.45`
						`Balancedbroughtforward`	`ASTRAZENECAPLC`	`Ordinaryshares`	`Sold07.02.2025`		`HSBCHOLDINGSPLC`	`Ordinary$0.50shares`	`Sold07.02.2025`	`Sold29.08.2025`		`CompassGroupPLC`	`Ordinaryshares` `Sold07.202.2025`	`DIAGEOPLC`	`Ordinary0.28101/108pshares`		`MagnumIceCreamCO`	`NPVshares- fromUnileverdemerger`	`UNILEVERPLC`	`Ordinaryshares` `Demerger- Magnum` `Fractionalpayment29.12.2025`			`Halma`	`OrdinaryShares` `Sold07.02.2025` `Sold29.08.2025`	`ExperianPLC`	`Ordinaryshares`		`RioTinto`	`OrdGBPO.10`		`Balancedcarriedforward`

						`INCOME`	`10,818.46`		`208.43`	`198.08`	`199.65`	`201.38`		`265.00`	`§37.50`		`198.76`	`537.81`		`140.00`	`84.00`		`305.90`					`4,123.44`					`9.21`				`14,827` `62`
						`DATE`			`24.03.25`	`23.06.25`	`22.09.25`	`18.12.25`		`28.02.25`	`48,09.25`		`05.06.25`	`04.12.25`		`13.05.25`	`15.09.25`		`28.05.25`					`44.11.25`					`04.07.25`
				`MARKETVALUE`		`31.12.2025`	`404,389`		`20,550`					`27,238`			`25,975`												`86,040`		`79,251`		`61,020`			`36,921`	`741,384`
`THECLERGYRESTFUND`	`SCHEDULEOFSTOCKSANDSHARES`	`FORTHEPERIOD1STJANUARY2025TO31STDECEMBER2025`	`TRANSACTIONS`		`NOMINAL` `MARKETVALUE` `cosT/` `PROFIT` `BOOKVALUE`	`04.01.2025` `PROCEEDS` `(LOS$s)` `31.12.2025`	`389,521.00` `(6,267.03)` `511.48` `383,765.45`		`750` `18,572.00` `18,572.00`					`4,250` `20,103.00` `20,103.00`			`25,000` `25,400.00` `25,400.00`			`3,500` `19,373.00`	`(3,500)` `(20,738.94)` `1,365.94`		`1,750` `17,346.00`	`(1,750)` `(23,701.31)` `6,355.31`		`4,000` `59,160.00`		`2,000` `27900.00`	`6,000` `87,060.00`		`450` `79,648.00` `79,648.00`		`30,000` `61,590.00` `61,590.00`			`30,000` `33,498.00` `33,498.00`	`690,713.00` `10,690.72` `8,232.73` `709,636.45`	`-15-`
							`Balancedbroughtforward`	`ShellPic` `EUR0.07`					`SSEPle`	`GBP0.50`		`FranklinTmpitnFd`	`FranklinUKMidCapS Dis`		`MelroseIndustria!Pic`	`OrdGBP0.06857143`	`Sold29.08.2025`	`Smith& Nephew`	`OrdUSD`	`Sold14.08.2025`	`NorthAmericanInvestments`	`BrownAdvisoryFund`	`BGUSvalueFund`	`Bought15.08.2025`		`Findlay ParkFunds`	`AmericanUSDDis`	`SchroderUnitTrust`	`USSmallerCosZ Inc`	`EuropeanInvestments`	`LIONTRUSTFUNDPARTNERS`	`EuropeanDynamicought02.09.2025`	`Balancedcarriedforward`

			`INCOME`	`14,827.62`				`60.64`	`481.44`		`114.32`	`353.87`	`49.36`			`95.20`	`95.20`	`95.20`	`272.04`	`100.80`	`100.80`	`100.80`	`100.80`	`100.80`	`100.80`	`100.80`	`100.80`		`117.57`	`98.24`				`516.00`	`1,293.06`	`19,276.16`
			`DATE`					`31.01.25`	`04.08.25`		`04.02.25`	`04.08.25`	`01.02.25`			`17.01.25`	`18.02.25`	`18.03.25`	`17.04.25`	`16.05.25`	`19.06.25`	`21.07.25`	`20.08.25`	`48.09.25`	`18.10.25`	`48.11.25`	`18.12.25`		`28.02.25`	`04.09.25`				`09.04.25`	`09.40.25`
			`MARKETVALUE` `31.12.2025`	`741,384`		`32,230`					`31,422`		`27,593`			`53,040`													`64,660`			`45,526`		`46,880`		`1,042,735`
`THECLERGYRESTFUND`	`SCHEDULEOFSTOCKSANDSHARES`	`FORTHEPERIOD1STJANUARY2025TO31STDECEMBER2025`	`NOMINAL` `MARKETVALUE` `01,04.2025` `TRANSACTIONS` `COST!` `(PROCEEDS)` `PROFIT` `BOOKVALUE` `(LOSS)` `31.12.2025`	`680,713.00` `10,690.72` `8,232.73` `709,636.45`		`40,000.00` `31,990.00` `31,990.00`		`20,000.00` `27,680.00`	`(20,000.00)` `(31,640.00)` `3,960.00`		`10,000` `25,171.00` `25,171.00`		`2,500` `26,900.00` `26,900.00`			`40,000` `47,320.00` `47320.00`													`40,000` `64,306.00` `64,306.00`			`20,000` `41,650.00` `41,650.00`		`20,000` `38,464.00` `38,464.00`		`994,194.00` `(20,949.28)` `-16-` `12,192.73` `985,437.45`
				`Balancedbroughtforward`	`PremierPortfolioOM`	`EuropeanOppsF Acc`	`JHInvestmentFundsSrs`	`EuropeSelectedOppsFund`	`Sold01.09.2025`	`AsiaPacificInvestments`	`FedrtdHrmsInvFHAsiaExJpnEq F2GBP`		`FirstSentier[nvS]AsiaPacificLdrsSustB`	`GlobalInvestments`	`FidelityInvstFds`	`FidGb!DivFdR Mdis`												`FUNDSMITHLLP`	`Equity` `\|IncomeNAV`		`GemcapInvestment`	`AhfmDefinedReturns` `BGBP`	`LAZARDGLOBAL`	`ActiListedinfraEquitDis`		`Balancedcarriedforward`

					`INCOME`	`19,276.16`			`92.16`		`§50.00`	`945.00`			`120.00`	`120.00`		`700.00`	`700.00`	`700.00`	`700.00`	`1,466.50`	`749.00`	`749.00`											`£26867.82`
					`DATE`				`09.04.25`		`28.02.25`	`29.08.25`			`28.02.25`	`29.08.25`		`11.03.25`	`05.06.25`	`03.09.25`	`08.12.25`	`14.06.25`	`15.09.25`	`16.12.25`
				`MARKETVALUE`	`31.12.2025`	`1,042,735`			`51,104`				`52,088`		`42,100`				`29,760`				`43,820`					`40,727`		`33,700`					`£1,336,031`
`THECLERGYRESTFUND`	`SCHEDULEOFSTOCKSANDSHARES`	`FORTHEPERIOD1STJANUARY2025TO31STDECEMBER2025`	`TRANSACTIONS`	`NOMINAL` `MARKETVALUE` `COST!` `PROFIT` `BOOKVALUE`	`04.01.2025` `{PROCEEDS}` `(LOSS)` `31.12.2025`	`994,194.00` `(20,949.28)` `12,192.73` `985,437.45`			`300` `48,559.00` `48,559.00`		`25,000` `47,650.00`	`(2,500)` `(8,130.09)` `365.09`	`22,500` `42,885.00`		`10,000` `34,750.00` `34,750.00`				`40,000` `28,160.00` `28,160.00`				`35,000` `42,455.00` `42,455.00`			`300.00` `(75.00)` `53,343.00` `(13,757.55)` `421.80`		`225.00` `40,007.25`		`25,000` `33,025.00` `33,025.00`			`20,000` `(20,000)` `17,256.00` `(17,262.00)` `6.00`		`£1,266,367.00` `(£24,073.92)` `£12,985.62` `£1,255,278.70`	`-17-`
						`Balancedbroughtforward`	`LazardGlobal`	`ActiThermaticFocusE GBPDis`		`POLARCAPITAL`	`Capita!GlobalFinancialsTrust`	`Sold07.02.2025`		`POLARCAPITAL`	`Global HealthOrdinary25p`		`InfrastructureFunds`	`GCPInfrastructure`	`OrdGBPO.01`			`INTPublicPartner`	`Ordinaryshares`		`AspectUcitsFunds`	`DiversifiedTrendsP` `Instl`	`Sold11.02.2025`		`JanusHendersonInvestments`	`Bought01.09.2025`	`InternationalPrope`	`SchroderUnitTst`	`GlobalReaiEstZ Inc`	`Sold02.08.2025`

2025-12-31-accounts

30 January

30 January