International Students Club (Church of England) Ltd Charity Registration No: 243606 Company Registration No. 846155 (England and Wales) Annual Report and Financial Statements 31 August 2025 INTERNATIONALSTUDENTSCLU8{CHURCH OF ENGLAND) LTD Report and Fln8nclal Statem6rrts 2025 Contents Pa8È Legal & administratiw inlom?•tlon R•port of th* Trustees Independewrt Exominerfs reporttotlw TrIF¥t￿l St#tomert of financial activrlies Balance >heet Nol¢$toth¢ linan¢ial >tatem8nt$ 10 INTERNATIONALSTUDENTS CLUB (CHURCH OF ENGLAND) LTD Legal and Adminlstratlve Inforn)ation For the period ended 31 August 2025 Charity Nam• International Students Club (Church ol Englandl Ltd. Charity r•p)￿ratIOn numb•r 243606. The ¢h&rity w8s r8gistèrod wih the Charity Commission on 20 Decamb8r 1965. Compary rnostratiorb numb 846155 la ¢omp•nytimited by gu8ronteel. H•gl•*or•d Offk• IntBrnation•l Students Club (Church of Engiandl Ltd. Wluiarn Tèmpl$ Houie 29-31 Trtsbwr Ro•(l. London. SW5 9NQ. Ooverninq document The Ch•rtV$ governing doeumarrt is the Memorandum 8no Arti¢tes of AsstiLyation (Jated 10 *4sri1 1965 as amended by 8pecial r¢soiution dated 24 April 2008 88 mended by 3p￿18l ie801uty.on ¢J8tad 25 july 2013 as amended by special re3oLutlon dated 29 Novomber2013. Obj•ctiv•s TheadV8ncen￿ntoflhèCttn$ti￿ntsIthOnd thewe{t8￿01stu￿ents. with an an¢i118ry objective of running a stLtdent residence. It5 sole activity is oper¥ting 8 9tLtdent re8iiJence in Eart$ Court kn¢Mn as ￿L￿.￿M Temple House. The Trusteès WI￿ setV8d during th8 year or who wgrg 5•Nng ot the date ol this report V*Ere: MrDCobb MrEGWLK)ds Mrc l Edtingtc Mr B S Sund$rsm Rev P Bagott Mr l Abeysekera MrCAnd￿l Mr C Schiole Ms N Gill Ms E Sunni Mf5 S M Di￿￿M MrFCCh8u Chainnan (Resign￿ 19 March 2025 Treasurer (Appointed 19 Merch 2Q251 Kty Mon•g•m•nt P•rnonn•l Those in chorge of p(annin& direcuA& control￿n& runnin8 and opèr8tin8 the Charity. including those members of staff %•kno Ar¢ the senior rnanagernent p¢rsonneL to whom the trustees h¥ve delegated signific4nl authority or r•swnsibitityinthe day-to4ayrunningolthèchArity.aretheWarden and m•mbers ofthe Man8gernentCommitt8e. Bank•r* Bareiays Bank PLC Leicester LE87 2BB Ind•p•nd•nt Examln•r John Helm ACA Tanttern AccountingLimited 17 He*thwlle Road Lortdon N19 3AL INTERNATIONALSTUDENTS CLUB {CHURCH OF ENGLAND) LTD Report otthe Trustees For the porlod ended 31 August 2025 The Trustees. who are also Oirectors of Internation8L Stu¢Jet)ts Club IChur¢h ol Engikndl Ltd 1.the Ch8rity"l. submit their 8nnual report and Ihe financial sratements of the Charity for the pèriod end8iJ 31 August 2025. The financial 8t&tements have been prepared in the lormai preseribed by the Statement ol Recommended Practi¢$.' Ac¢ounting onij Reporting by Charities ISORP2Q19 IFRS10211. The legal and 8dministr8tive inlormation set out eartier in this document form$ partof this report. Tliis rèport atso ¢on$titutes a direC￿r8. report required by section 415 ot the Componies Aet2006. 1.1. Trust¢¢$ TheTrustees (collectively knownosthe Executyvecommitteel meet 3 b"mes8 yeartodiscu5s a fuLLr8nge ol matters reioting to strategic pienning and development. govemance 8nttfin3nce. A5ub-commillee ofTrustees. known 8s the Management Committee, is responsible un(ter ihe ExeeutNe Commitree for the running of the residence and n*ets 4* times per year. Respon$ibilitytorthe d8y-to-oayrunning of Ihe resId￿ce is delegated to the full-time wardèn. NewTru8tee8 are recruit￿ inform81ly, 8s an(1 when requi￿￿. on t17e basis of their busine55 LY retate(J experience 8nd their interest in the work of the charity. Nominations are proposed to the ExecLrtNe Committee and forrn811y appointed il approved. The inducDon process for 8nyindividu8LnewiyappointeiJ to the board ofTru5tee5 ¢ornprise8 an initial meeting with at least ofthe Twsiees (whenever possible one of the¥e Trustees bèingthe Man8gementCornrnittee Choir) receipt ol copies ol.. The Memorandum and Articles ol Association The m05t recent financial statements The Charity Commission's guidance'The EssèMiaL Trustae.. 1.2 Risk Man8g8ment Trustèe5 ackfjowiedge th8t th￿ have a responsibility for Ihe i*Jeniilicètion and proper m¥nagement ol risks lace(I by thè Charity in achieving it5 prirnary aims. The Tru￿¢e5 have fherefore assessed thè m8jor risks to whieh the Charity is èxposo¢J, in p8rticuiar those re18ting to the specific operational areas ol the Chsrity, its irNestment5 and its finances. The Trusiees believe th8t. by monitoring reserve levels. by ensuring that controls oxist over key financial 5yStem$, and by èX8mining thg opèralion81 risks f8ced by the Charity. tw have established effècti￿ systams and procedur8$ to mitig8fe trose risks. In preparing this report, theTrustees have complie¢J with the duty in section 4 of the Charities Act 2011 to have regard to putyli¢ benefit guidance publishéd by the Chartty Cornrnission ar¥d have sought to dÈmonstr8te that it Provides idèntifiable benefits which relate directly to its aiFns as state(1 in lis Mèmorandurn 8nd Articles ol Association and which ouw4eigh pny potential detrimentor harrn. Further, the benefitsaie publiclyavaiiableto all and are notin Bnyw8yre5tricted to those oble to pay. Any private benefits to Tw8tees Bnd rnerrtbers of the Charity are incidental. WiLts"6m Ternple House aims to prowde ￿udents from allparts ol thev•rJrid V•itha secure, welcoming home at an afford8ble cosi, offering accommodationtorup to 50 residents. mainlyin single1￿M5. Wlth sixsh8red roorns ancl a one-be¢room flat provi¢Jed. William Temple House is ono ol the tew pieces now able to offer attordable student accommodation in the B￿0U4h of Kensington and Chetsea. 8n 8re8 Wlh a particu18rty large concentration ol leading Higher Edycation institutions. Finances permitting, the tnjstees propo8e to 811ocate 8t least 2.59ts of annual lee ir￿orne plus 10% of the annual buLJget surplus as a means-tested bursary fLJnd. av8iiable to both new and existing rèsictènts. Student bursariè5 8re 8warded in the lorm of a rent rebate lorthe durationol an academic year. Thiee iocalcolleges regukarty norninate candidate5. 8n¢ any extr8 reserve is used as a hardship lund lorcurrent iesi¢Jents. Studenrs from all faith and n¢)n-f8ith b8ck8rounds afe welcome and intske is consciously rnoniioYet1 to en3ure 8 diverse community ot studènts trom around Iheworid. ¥Mth a wide range of ac8(Jemic (Jiscipu'nes and institutions represented. INTERNATIONAL sfuDENTS CLUB (CHURCH OF ENGLAND) LTD Report ot th• Trustees For the period •nd•d 31 August 2025 Studènts 8r8 oncouraged to rnix so¢iaUythrough &￿I￿lieS arT8nge¥ within the hou8e and cateringtacits'tlèS8re commLsn8L Regular meetings are held the rg*d•nts, Bnd everyendeavoui 18 made to meetonYco￿ern8 th¢y moyhave. Thè PfOj8Ct to rèpiacg the roofs and other associated works otwil￿aM Tèmple House continued throuoiout the fin&nci81 r, Trmth tha proje￿ completin8 in earLySeptembeT 2025. As a 05￿Lt of these Wofks, Ihe 8h8rèd rr)omg on tha lourthfloor wero not avai18biefor useduring2024125. reducingmaximum buiLdingeap8eltyfrorn Soto 38 residents. Acti181 occupancy Levels were at or elose to the reduce(I maximum e8P8City for the majority of 2024125. With the re(Suct*on in spaces availablo. ovoraLLaverage occupantyrates foTtheyearv•We Lmithan in th¢ prioryear ￿su(tIng in lowerincome and while Ihè incraase in ￿ComM&￿atiOn fee room rates in theyear parballyoffset the impact of lower occupgncy rates. over811 fee income reduced 10 £326,76112024: £338.6971. E¥pondituie.ineLudingprof•ssionallees. in rèspoctofthe nowcompleted r￿l-18P1acernent projectincrea$ed by£190.869 to £332,65912024- É141,7901. wth 8 further É100,49712024: Enill in eapttai expendi￿re incurr8d in respect of freehold improvements through the ingtsliation of roof insulation 8nd insuiattd walls in the fourth-floor rooms of Wiltsarn Temple Housè. Th6Trustees borrowe(J £63.52212024.. Énill to help lund th• e¢)mpletion ol the roof-replacement project. The Lo£n S r8p8yabLe over 10 years with inter85t Charged at 3.￿ 8bove 8&nk of Endiand base rete end is secure(1 by 8 ¥Jebenture creatingfixe(l and floating charges over the assets ol the charity in fBvour of The Charity Bank Limited. TheTru8tee8 w*rè pLe8s•d to awdrd burnaries total￿ngElO.￿(2Q24: É13.0951. Totalexpenditura. includingprofession81tee5 and Oiheicost5 relatingtothe roof-repiocement prqect 8n(J bursaryow8rds. incre8$èd by£173.83814o￿I to £606,67612024.. É432,8381. re8ulting in an operotion81 deficii of £269.41212024= deficit of £68.0881- 2025 2024 Numbar of residents Imragel 37 45 TheTrusteeB expres8 theirgr8titud8to the stsff f￿their hord workthroughout the year. 4.1 Fundini The principaisources of fundirearg occommodation f88s ftom residents and inbtstsnent income. Followryq continuing infi8tion¥ry pr8ssureon¢osts. theTrustè8s opted loran in¢rè8se in fees of 7.5% on avpr¥8e •ffactNIè during the academie ye8r 202412512023124.. 5%). The Trustees con8idered that a further 7.59b incre85è ochiaved the best baLanc8 bets¥e8n keeping fee5 as low as possible 8nd maint&ining the core objective of B Low price-point. whil8t ensuring that projected sncre85es in opèr8tingcosts are ¢owred.Accommodation fees perrèsidentwerecharged AS foilows.- Single room É790. Double £560. Triple £tsl and Quad £3f4). 2 FlnancialActivitiM and FIMnelal Pojition The Staternent c*1 Finan¢ialActiwties and 8818nce SI￿t can be found on pages 8 and 9 respectively. The Trust's reseNes ecreased by £269.412 during the 12024: decreased by É68.0881. The balance sheet 8htrw8 totkl net assets of É237.10712024: £506.5191. Tha ￿rnpanY Nns the Ireohold property ts31 Trebovir Ro&d, Eart's Court.Thi¥ is a functional propety anij prowdes the hostèl accommodation and an olfice for ihe warden and staff. The properry. thich 1$ stated 8t cost of £153.236. 18 not depraciBtod because theTrustees ale contidentttst its value is in exce83 ol its stated cost. INTERNATIONAL STUDEKfs CLUB (CHURCH OF ENGLAND) LTD Roport of the Tru8toe8 For Ihe porlod •nd8d 31 August 2025 4.3 Re80ry¢9 Poli¢y The Trustea5 define free reserves as un￿striCted fun(Ss ex¢Luding t8ngsbie tixed 858et5 Usett for the continuing work of the Charity. In 85$È5singreserves av8ii8ble tosupportongoinga¢tiVFties. theTwusiee5 Oistinguish be￿een operotion81 liquidity 8n*J long-term structural f￿nancing. Thè èlement of the Charity's loan repayable after more th8n one ye8r therefore treated as structural funding and is ad(Jed back vthen calculating rree ￿eNes. The portion due witflin one year remains included within current liabiliries. Given the nature of the Charity's work. the Tru￿$￿S consider that tree rèservès should be equivalènt to between 3 gnd 6 months, routine general fund expensJitLtre. plus con 476. The D*rectors acknowledge theirfe5ponsibilities for ensuringthat tha comp8ny ke•p8 a¢¢ounting recor(Is which complywth section 386 of the Companies kt 2006 preparing financial stotements which wve 8 true and fair view of the state of affairs ot the company as 8t the end of each linancial pèriod arKJ of irs profit or loss forthe linancial peri¢)d in 8ccord8nce wth the requirements ol sections 394 and 395 8nd which otherwise cornply wth the requirements of the Companies Act 2006 reiaiing to financi81 ststemnts, sofarss 18 8ppti¢able to the company. The linanciaLstat8ments were approved ty theTru$tees on 25 March 2026 8n*J signed on their bahalf by.. Mrs Susan M Dlgnum Treasurer INTERNATIONAL STUDEpifs CLUB (CHURCH OF ENGLAND) LTO Notostothe Flnanclal Statemonts For the period end•d 31 August 2025 Intèrn&tionol StLtdents Club (Church of Engiandl Ltd 18 0 prwats company Limited by guer8nt80 incorporato(l in Engi8nd on¢J Wales. The wstered office is 29131 TrebovirRo8d. London. SW5 9NQ. The prin¢t￿L aceounting poticies Bt1opted, judgement5 and k￿3￿r¢*5 ofestimation uncertainty in the preparation of Ihe financial st8tements ere as foUoby%: Ba#1• of accounting The financiol statements heve been prepgr•d und#r thg C¢ynpanies Act 2ts)6. the Charities Act 2011 an¢ in accordonee the Charities Ststement ol Recommende(S Proctice ICh8rities SOAP2019 IFRS 10211. The linan¢ial $t8tern?nts are drawn up on tt)e histortcalc4)8t b8818 of accountiw mo¢Jifiedto includethe investments at f8irv&Lue. The Charity meets the definition ol ¥ pubil¢ benefitentity Lbnder FRS 102. Gotnl Concern There ere no material uncert8intie3 8bout the ch8ftVs ability to continlre as a going concem and a¢coidin8ly the accounts have been drwi up cn o goingconcem fJ8SIS. Income r•coKnrlion Voluntary incorne and donation$ lincluoing leg8cie818re accounte￿ lor on¢¢ the Charity hes entitterneni to the incorne. it is probablè the income WILL be received. 8nd the amount of in¢ome receiv8ble can be reliably me88ured. Income trom the i•coveryoftaxon wft eided (longtifm8 18 8¢eountèd lor inthe period in Y4hich the reltv8nttsx r¢fun 18 recèived. Fee in¢ome is r￿08rbIie(l on 8 i•cel￿ble basis. Int•rest on fvnds held on deposit includod r￿el￿ble 8ThJ the 8rnount can be me88ured r&ti8bly by the Chanty- ExpenditUT• recognition Expènditure is accDJed as 300n 88 8 liabiltty is eonsidèred prob8bLe, and the amount of obbgation Can be measured reti8bly. Lmger term li8bib.ties are ttiscounted to pres•ffl v8lu8. Th8 Charity Is fKJt registefeil forVAT and accordinoy ¢xpènditure includes VATwhere appTOPri8ta. Expensjiture included in A8i$ing Funds includes aM￿ntS in¢urrod in g¢￿Tating¢nV8strnent returns. Charitsble expenditure ineludes those ¢o$ts in fulfilbng the Charity's pri1￿1paI obje¢ts. as outtined in the Report of theTru$tees. Charitobleexpen¢iture I￿lUdeS governance cost5 and on opportionrnent of supporte05ts. Govemance costs compriseall¢osts itwol￿ngthepUblie8C¢OUnt&b1I1tyOf the Ch8rity8nd ils Cs%YIPliancewth regui8lion 8nd good wactice. The8e ¢0st¥ includè costs rdated to the infJ8pendont ￿&MInatiOn an¢J LegoLfee8. Rentals Ltnderoper8t1n81￿SeS are charged as sncurred ov8rthe term ofth• leese. T•x•tlon Tha Charity is exemptfrom tax on income and gains Tal￿ng￿TthIn the prowsions ol the Corporation Taxes Act 2010 or th8 Taxation ofChargeableGeinsAct1992tO 1he8xtent1h8tlh8se8re8pp￿•d ioits charitAblè objacts. Notaxcharges h8vo 8ri90n on tho ChBrity. io INTERNATIONALSTUDENTSCLUB(CHURCPt OF ENGLAND) LTD Notegto the Financi8l SLgternent5 For the period ended 31 August 2025 1. AecountlrfP•U¢l••l¢onthw•d) Tangibl• Fix•d Ass•ts TAngible fixett &5sets are accounted lor as lollows.. Fieohold property. The freehold property is stated ai cost. Expenditure incurretj on rnaintaining the property to modern stsndards to onatsle its continued us? as studènt accommodation. it9 intended purpose, is expensed.. expenditure incurred on improvements to Ihe propety are capit81ised. No depreciation is charged in respeci of Ireemotd 18nd an¢ building8. 8S Ihe residual value of the properry 8fter its estimated useful lile 18 antlClP8ted to be at least the c8rrying volue of the propety Shown in the fin&ncial statements. Olfice furntrture & equipment. Ollicè lumtturè & equipment. wth o eost of £1,000 or rnore. ts capit8li5ed. Depreciation 15 prowded at retes calculated to wrsteoff the costless estimated residuaLvalue of each Èssetovgr its expecte(J useful life which hes been estim8reO 88 foiiow3: Office equipment 10yèar5 Furniture 7 ye8f8 House lurnitktr• & •ppli•nc•s. Utility equipment (such as furniture, white good5 eicl, with a cost ol £1,000 or rnore. is capitalised. Depreciation is provided ai rates caLcuiate(S to ¥wite off the cost less estimatett residual Value ot each assetover its expecte¢J useful Life which has been estimatet1 as five to seven yèars. Kitchen app￿anceS 5years Fumiture 7years O•btor¥ Debtors are included at the settiement8rnountdt2¢. Pwp8yments ore valued atthe amount prep8Fd. Cr•dltor$ and provisions Credit￿8 an¢J provisions are recognised where the charityhas 8 presènt obLig8tion arisingfr￿n 8 P8St èvent th8twill probably re8uIt in the transfer of fun(Is to a Ihird party and the amount due to settle th¢ obligation can tse mèa$urtd or o￿lMated rèliably. Cioditors èrKI pw8ions are reCo￿lSe￿ attheir 8etEiemerhi amount. 2. In¢om• 2025 2024 Voluntary in¢orne Donations & gifts Incorne tax reciaimoo 165 150 165 150 Charitable 8CtiVities Fee income (net otcretlit lor duties perfom7ed by resi¢Jentsi 326.761 338.697 Investment income Dividends Interest reeèivable 70,338 25,903 10,338 25,903 337.264 364.750 INTERNATIONAL STUDENTS CLUB {CHURCH OF ENGLAND) LTD N￿8$tO th• Financlal Statemonts For the peiiod •nded 31 August 2025 3a. Ch#Titabl• 4ctiVFtia• 2025 2024 Staff costs (see note 3b boiowl S18tt training & other ¢osts Re8ident burs8ries Bad dabts Resident arnenities and octNi1se8 Aclministration Property expènsès FiKturè$ & fittings Rep8irs and maintan8n¢e Loan Cornmiiment loa Loan Interest PByablè Depreciation Profèssional fees Inttependent examination Other govom8n¢e costs 137,896 1,272 10.900 142,057 275 13.095 14881 14.665 3.985 139,299 2.337 11,992 7,500 13.004 4.727 92,149 138 336,521 407 1.966 5.373 2.076 247 3.633 92.239 1.980 269 606.676 432.838 3b. 5t•tl ¢o•ts Included within charitoblè expendiwre are the lolithwng co3ts of employed inclrviduais: 2025 2024 Wagas and salaries Social security c95ts Ernpioyer Allowsnc? P&nsion contributions 121,149 14.134 16.2171 8.830 125.636 12.526 15.0481 8.943 137.8 142.057 orwhieh.. saiarios. S￿￿81 5ecurityeosts 8n(I pension contributions paifl Trn re5PeCt 01 key man£gement personnel 84,827 Tha number ol employed indiwttuals during the year w8$ 3 12024: 41. One12024'. nil) employ0* wèived omployge benefit$ in the ban(5 £60.CQ1-£70.C4JJ duringthe year. During ihe year ended 31 August 2024. rK* employèe rocoivèd Payments in wcess 01 £60.O¢XI. Tay PApbt• As a charity, Intern8tion81 Sttjdents CLub (Church ol EngiaNII Ltd isexemptfromiaxon income and g8in¥ f8Llingwithin the provision8 Otthe Corporation T$xesAct 2010 ortheT8X8tion oicha￿e8ble Gain8A¢t 1992to thg oxtentthat these re to its obJ"ects. No iaxch8188s havo arisen on Ihe Charity. J2 INTERNATIONALSTUDENTS CLUB (CHURCH OF ENGLAND) LTD Notesto the Financial St8t8ments For the period ended 31 August 2025 &Twlbi• FIX￿ A•Mts Fr•ehvld HO￿￿h￿Id i•nd & furniture & Furnitur• & buildin#$ •ppli•n¢o9 oquipment Total Cost At 1 September2024 Additions Disposals 52,739 100,497 23.488 5.847 82,074 100,497 At 31 August 2025 153.236 23,488 5,847 182,571 Depreciation At 1 September2024 Charge for ye8r Disposa15 19.848 1.382 3,771 584 23,619 At 31 August 2025 21,230 4,355 25,585 BookValu• At 31 Au8USt 2025 153,236 1,492 156,986 At 1 September2024 52.739 3,640 2,076 58,455 Ail of tha IrA•d assats arè usèd lor charitèble purposes. 2025 2024 Prepayments and accrued income Fees receivable Less Provi3ion for Doubtful Dob15 6,354 8.223 16681 7.464 3,459 16681 13,909 10,255 2025 2024 Trade creditors Actruals Other ¢reditor$ includingtaxation. workplace pemions 8TrJ socialsecurity Income in adv8rt8 Resid8nts' d8posits held Loan payable (see notÈ 8 belcA¥l 3,233 16,621 2,448 1.701 39.800 4,302 3,830 21,314 4.092 4,016 30,700 68.105 83,952 INTERNATIONAL STUDENTS CLUB ICHURCH OF ENGLAND) LTD Notes to the Ftnanclal Staternonts For the poriod ènded 31 August 2025 2Q25 Loan payable Isee note below) $9,220 The lojn otÉ63,522 is repay¥bie over 10y98rs. Intèr•si is ch8rg&d at3.5% ￿rannurn 8bov8 thè basè raig olthe Bank ol England. R#psyment5 comm#n¢ed in Septembèr 2025. Th8 loan 1$ secured ty a dèbènturè craating f￿ed 8nLI rioatin8 ch8rg03 over th8 858ets ol ¢harity in t8voui ofThe Charity Bank Limit•d. The trustee8 r118devoiuntsrydonation8 01 £nil12024: Enill dyringthe ye8r. Therowere no Other raloted patytransactions 0rb818r￿e8.