FRENCH HUGUENOT CHURCH OF LONDON CHARITABLE TRUST RECISTERED CHARITY IYO: 249017 TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 FRENCH HUGUENOT CHURCH OF LONDON CHARITABLE TRUST CONTENTS PA%e Trustees, Annual Report Ind¢p¢ndent Audilur's Reporl 8-10 Slu￿[n¥￿t vfFinancial Aciivilies Balance Sheet 12 Noies i(} Ihe Finart¢ial S¢ai¢ments 13-23 FRENCH HUGUENOT CHURCH OF LOLYDON CHARITABLE TRUST TRUSTEES, REPORT Legxl Admlttlstraiilt lrtf•rilb*tlo r.harlt) N*J Freiich HugTuenoi Church of London ChanthbleTn (.-harlty Numbtr 249017 Trllstoos AlL￿th6.￿ AiiTr- Tctircd 14 Novcmbrr 2(b?4 AIICL Martineau Artihthny Wilsort Charles M&rtin¢au Fuhi¢n L¢rrJc lihilldin L¢'uglle LJurimLU (.L)ILhLl￿tCr Martin IlarL(lUrt-WilliDm Nslld4hJ Munin¥aii Thihiiuli LDvcr&me. Dpwintd 21 NnvLThbcr 2024 (iovernlng %¢htm¢$ SLIILYIIL EIpprOv<￿ by (IrdLY lif IhL' C￿Irt 26 July 1926 C'hdrity ('iimmmi.*%liM SihLThC 12 April 1976 C'hurily C'ommmi5>ion S¢hcmv daid 30 Au¥usi i¢w C'hdrity C'i)mmmi.4%ion Sih¢m¢ dald 4 OLtober 1988 I'harity ('iimmmi*%l(M SLhLYnC 17 Jllly 1998 c'h￿rItY C'ommmi5Jion Schcm¢ amcnded IS March 21KIJ C'harity ('i)mmmis%1()n S¥h¢mr dttid 15 Ikithy ?IKK C'hdrily C'ommmi55ion Schinied by the Iru%iees li) manage Ihe day404lay operdiions ofihe Charity. New Iru%t¥¢% ¥r¢ app)inl¢d for life by R¢wluli4)n ofihe Irusltts pa5Kd al a s￿la1 In¢¢iin¥ ufwhilli not 1¢%4 than 21 noliLe ha& been ¥Lven ICldu&e J l of the sLhen￿ 4)r 17 July 19981. The Consistory of the ChurLh nomindles 3 Irusl¢cs who s¢rv¢ lor 3 y￿T$. 14Then recruiting n¢w twste¢s. ¢he exisiin8 Injsiees look for iMliwduJls with skills Ind experien¢e which 8re of v81ue to Ihe Charity. Any poienlial Irusiees are inleTVLeived by ihe exisiin¥ In￿lee5 and PTOi'ided wilh a pack ol. inlomiaiion including acc0unL￿ artd a copy of th¢ tnLsI d¢ed. This ¢nab1¢5 ih¢m ￿ b¢i*r undetsLand ih¢ purpos¢ and op¢rntioi) of Ihe cliariiy bllore a decisioii is made over their appoin1n￿￿t. The iruslees are ¢Kperi¢nced individuals wilh an appropriaie understhnding ofthe requireinents ol'a truslee ora ¢harily. wh¢￿ appropTiat¢, th¢ rh3rity $UPPQrt5 th¢ IrairtLn¥ ortn￿￿¢s. Inrluding 3tl¢rtdanr¢ al 5minar5. Rlsk ￿lAnagement The iruslees are aw'are ot'thejr responsibilities under the Sia*meni ofRee0Mn￿1ded Praciice on Accounling and R¢portin¥ by CharilL¢5 3nd have undertaken a d¢tsil¢d analy515 of the n5ks involved in lh¢ Charitys artivili¢s. Th¢ t￿￿te¢S have identificd the following ri5k5.' Irtve%tmenL8 drop in value. - Income decr¢ase5 below. what is budgeted. Grants made are not spet)i it) line with ihe Schenx or th¢ir application. Irtsurance of property leasehvld is tM)t LTh piaLe. FRENCH HUGUENOT CHURCH OF LONDON CHARITABLE TRUST TRUSTEES, REPORT Action taken io miii8ate the risk.. - Trust¢¢s have appointed a prof¢R4ional fjrrn lo maTra￿ th¢ inv¢stm¢nL%. The finance cotntnitt¢¢ ￿vieW quarteTly reports and quesiion Ihem on (heir sirdiegy. Tnjsiees maintain a coniirt¥ertLy fund. - Trusl¢¢% d¢liv¢ly T¢Vi¢W grants. and obiaiTr yw]al¢s and r¢pDrts-. TTus1¢¢s visii rrfipi¢nts wh¢Th able. - Trusiees will updaie insurance priKeduTe and knder for a new survey)r insureT. - Trustees will creaie a Loniprehensive risk register. at￿ policy & procedure d￿Uments. This is to ensure thai all trustees are awar¢ uf all risks., pwLdur¢4 tv miiigale th0￿ risks a[￿ the scale of each Tisk. K¢y M*nagtment Personthel ThL' IruslL*s Lonsider IhL board ofirusiees and the commirnee teams comprise the key man8gLmeni personnel of Ihe charity in Lhar¥e vl-direclin¥ and L(iJilrulling. ruDnin¥ and operaiiDg ihe Chilrily on a day tu dav basi%. All mi%t¢es ¥iv¢ tlieir litne freely and no direcior receii'ed remuneration in ihe year. Details 0rdirec￿TS, expenses and relaied party tyansacijons are disLIos￿ in noie I I to the accounts. Grant maklng pollc) and re1'Ic￿ of gctlvltle5 Cjranls ur¢ tn Square. A dedicated Th'orkin¥ ¥roup was for[[￿ in CODrdination ii'ith our archilecLs, CaToe, to ￿afe¥Uard boih nur inter¢s15 and th¢ aTCtLiiectural inlegrity of the church's hisloric fabric. Educational Fund.. The Education Fund sU￿c￿[n[n1ttcC rontinue lo dL5tribule incotne in the fortn of buT5aTi¢S, 5p¢cial allowan¢¢sy ¥¢n¢ral emergT¢ncy io JiidiN'Jduals, schools and charitsble orgajiisaiions concerned w'ith educa(ing young people. At the year-end trU￿tee.￿ receive Individual ￿hoUl Tepurts froTn who have received buTsanes and fTom the charities supported. The reports Show who itL¢ lunding has helped and how Ihe recipients have benefiied. FRENCH HUGUENOT CHURCH OF LONDON CHARITABLE TRUST TRUSTEES, REPORT A lolal of £IJO,)181ty023.. L169,9851 w'as paid in but5aties. 8Tant5 and chariiable pay￿￿￿15. 52 pupils {2023.. 571 al vaTiOUS colleges, boys and ￿Ti5 day sctMM)15 and cknir SCh￿L8 rweived sp￿la[ allowanc¢s and bur&￿¢S. There wu¢ no ¢rller8ency granLS. Charity grants noNN' Inc0T￿rate both Yeat End Distribution and Proj¢cE GTants. and 3te allocaied in November. GTanls lotallin¥ £13,2M I?0?3.. £51.OMI w'ere nud¢ to 71?U23.. ?01 org3nisations prffiryding ea￿ation. menial health suppon and lif¢ skill assisiance io disabled and Under-pri￿.11CgCd young people. Sonrorganisaiions pr¢viously supE￿e£l. and some 8UPPQrt¢d for ihe rirsi lime. Granis includLMI the follow'irtBpayn*nts of £l.IKK) or llNNe'. AIIC'hild IFTtnly WLZI Kheihani Lord Snowdon'5 Award Schw Si Woolos Caihcdral TL(i Zi£ize £2.5(K) 13.51K) £I.IKK) £3.IXMI No 8rani was wven 10 supwi the lthstiNie of Hisiorital Restarth IIHRI with theirresearch12023.. £4.0001. In ?U25, th¢ ￿di1¢all￿n C'ommill¢¢ is und¢rtakin8 an Edu¢aiion Fund T¢Vi¢W. This is 10 ¢nsur¢ lh¢ fund ¢onitnu¢s 10 b¢ ¢ffcclivcly di51ribuiLxl, is ￿1¢YanT W¢UTr¢ni n¢ds, and cTh)iinu¢5 w b¢ in a¢￿dInG¢ wilh th¢ SchLTr¢. Hard8hip Pund.. The Hard%hip Fund sU￿¢0MmIt1ee ceniinuc ￿ WOTk with selLxtoJ charilits in London helping Ihosc in n￿￿1 who are old or homcless and children in need of sup￿rt. as well as refugees and Proiestsnts in nLTred elSe￿,here. The tru41ee% di%cu%s with the charities ab)ui s[Ktif￿ projects for wthich they TequiTe support and the charities send rcports of their work ai the ytrdr cnd. The projects vary from irnining and 5uppofiing voluntL*ts. Coniribuiing towards the Co￿LS of fjiatTIo oihLY Costs of nJnninB & pro8rthirt*. Th¢ trn$ie¢s r¢tNin ih ¢onts¢i with the ¢hariti* but do not sup￿In the Sa￿ ch2ri1ie% ea¢h ycar. In 2024 the trustees gave support 10 Ihe followin8charitie5= HOM¢1￿.. Baron's Coun. C4WS. Cardinal HUTh￿ CLY)1￿. Caris Famili¢%. Conn4riion ai Si M¥nin5. Spitalficlds Crypt Trust, Sl Cuthbert's Day Centre. Sirides. The up￿ Rwm. TTU$8ell Tru￿ and Your Place. Old Age.. Age UK Ea51 London. LiviThg Words. MU￿¢ in Hospiials. Quaker Soclal Aciion. Re-l￿8￿8¢. Timc & Talcni and To)mbee Hall. R¢fugLYS.' C.ARA. D￿TorS ofih¢ World. KRAN. Notre D8nK R¢fvg¢¢ C¢ntrG Suffolk R¢fugc¢ SuprM)rr and SWVG. Young. St Gi[￿ TnL51 and We51 Limdon Action forCThiidm. Funding tothll¢d £140.IKK)12023. £140.(K)01. FRENCH HUGUENOT CHURCH OF LONDON CHARITABLE TRUST TRUSTEES, REPORT Financial re)iew Church fund.. In the year ended 31 December 2014. the Church Fund received inci)me of£147,?31120?3.. £153.8651. Total expenditure for the year £147,21212023.. £164.4191. ¥ivin¥ a net inc()tne figure Of £19120?3." net expense £10.5541. This ¥av¢ an uveiall R¢srricted Fund tulal for th¢ y¢ar ended 31 D¢r¢mb¢i ?0?4 in th¢ balance sh¢¢t of £30.0191?0?3.. £30.0001. Education fund.. In ihe year ended.3 l December 20?4. the Educaiion Ful￿ received income of £164.1611?0?.3.. £171.6621. Totsl expendiiure for (he ycar was 1145.236 12023.. 11¥3.59?l. giving a net income figure of £19.02512023'. iier expense £1 1.9301. This gave an overnll RcstriciLd Fund total for the year ended 31 Dccember 2024 in ihe balance sheet of l41.9311?073.. £22,906). Hard%hip fund.. In ihL vLar ended 31 December 20?4, the Hardship Fund reteived income of £139.03212023.. £145.2961. Totsl expenditure for the yLar iVdS £152.713 12023.. £151.5171. 8ivinB a exptnse figure of £13.6XI 12023.. nei ex￿nSt £6.2211. This 8av¢ an ov¢rnII RL%triLILd Fund ioial for the year endLd 31 DeCemtr￿r 2024 in ihe Imlance sheet of L31.6X41?023.. £45.3651. Invesiment pollci. and performance ThL.%iJlLtnLnt i>l- InvL'%iillL'ni PuliLy. Originally approved by tk in 1996. is r¢w¢w¢d from lim¢ io iimc and wa$ 1881 modifild durin¥ th¢ year ¢0 31 D¢¢¢mb¢r ?024. Th¢ poli¢y is d¢%i¥n¢d ￿ g¢n¢rJl¢ annual in¢vm¢ $uffi¢i¢ni Iv %upi)urt th¢ achi¢vLrnLnt ufihc Lhuritys l)bjc¢ts whil¥1 ¢nsuring sulTi¢i¢ni Ion8 1¢Th1 capithl 8rvwth ￿ ¢nabl¢ ¢h¢ ¢ff¥ClivL ¢vntinuali4)n Of Ihc L'hdrity'% wvrk in thc futur¢. Thc tOLLI value of Ihc Invcstmcnt Portfolio ai 31 DeCem￿r 20?4 £1 1.688.24112023.. £11.354,5451. Th¢ portfolio is mana8¢d on a dis¢r¢iionary basis by RathLN)n¢ Inv¢stm¢ni Mana8¢m¢nt Limit¢d ￿th a primary obj¢ctiv¢ ot- providing incomc for the C'huTch Fund. Edu¢alional Fund and Hatdship Fund ￿h1]st ulso cnsuring su￿7(1¢nt long-IcTin capilul STO￿h lo cnablc ihc cffcrtivc (oniinuation of thc C-hariiy's ivork in lh¢ fuiurc. In addiiion to a longcr-lcnn total Tclurn objcctivc of inllaliLin las MCasurL￿ by C-PI) + 3.5. rKr annum nct of all fcc5. Portfolio pcrfOnnar￿C is also moniioTcd against an appTopriaL" composilc bcnchn￿rk and assci rangcs. ReserTre5 revlew Includln% pollty ThL trustees are aware thai there may be limes when the level ofincome earned i)n each fund is insuffieieni 10 meL•I iheir planned objective%. Thi% may be caused by a lowEr Ih&n expeckd income yield or an applicaiion for grdni Ihal 1% Particularly worthwhile but exceed5 the budget allocation. To address this. in accordance with the atnended schcTne dated 15 Cklober 2(1(111. the ttustees Tnay retain illCOTne in a particular vear that will then be spent in the ￿ubseqUent yeaT. 'rhi.￿ tEsulLs in a res¢rv¢ being established. atrK)unting to ayproxirnately £30.IKKI fund_ At th¢ Year￿(L all of th¢ thT¢¢ fund5 had in T¢S¢tv¢ aTnounts in excess of this level, how¢v¢r plans for 2025 will ¢nsutr that th¢y art U5¢d in a￿0T￿￿￿e this policy. At the balance sheei dak". Ihc TNSI had Resirieied filnds of £103.634 {2023-. £98,271) and a Permanent EndowTheni fund of £11,908,241120?3. £11.574,5451. Conflict of interest The trustee% have a system in place to identifyathv conflicts. of ithtete5L that ￿aY0￿cU[. Whert a cortflict uf interest arises, the Televant trL]Stee ortrustees to withdTaw' froTn any discu5SiI)n and deci5lOll. FRENCH HUGUEINOT CHURCH OF LONDON CHARITABLE TRUST TRUSTEES, REPORT Coin¥ c.oncern Th¢ Buard uf TTU%t¢¢% is olth¢ opiniun that th¢ rhatily h&s adequat¢ r¢soui¢¢% lo coniinu¢ in op¢rdtional exibtenc¢ for the foreseeable future and there are no ma¢erial uncertainiies regarding Ihe TTUS('s abjlity to do so. Fundr2i5111¥ The Trusi does noi un(krtak¢ any public fundraising activiry a￿j is not therefore registered with the Fundraisiiig Regulator. Plan5 for the future 'rhe'l'ru%t 15 ¢xpecied io continue io be managed as sei oul above in th¢ applicaiion of I￿ Tewurces lo me¢1 its charitable obje¢lS. FRENCH HUGUENOT CHURCH OF LONDON CHARITABLE TRUST TRUSTEES, REPORT 8t*temerti of Trustees, Responslbllltles Th¢ trusieva art T¢sponsible for pr¢wdrin¥ the TTUS*¥s' R¢TX>rt a[￿ th¢ fjnancial SthleJw]ts in aCCUTddnce wilh dppIiLabl¢ law and United Kingdom Accouniing Sthndards. The law applicable ￿ charities iii Eiigland and Ivales requires the Inisiees 10 PTepare finartLJal stsiemenis for trach finartLial year M"hich ¥ive a true and fail view. ofthe sta￿ ofaffairs ofihe chariiy and of Ihe incoming r¢sourc¢s and applicaiion of resources ofthe charity for thai period. In preparing the financial statements. Iru5ttts are required to.. s¢l¢LI %uilabl¢ uccuuniin¥ policies and apply th¢mroDsi4l¢nily . observe the methods and PTincipl¢s of ihe Chariiies SORP: make)ud¥iLmenis and Lsiimaies thai are rL'&%On8ble prudeni: . 51uie wh¢ih¢T applicable accouniing siandards have been followed, subjeci ￿ any depariuTe5 disclosed and explained in tlie linanLial staiemenis., artd 5. prepare the financial 4tslemenis on the ¥oin8 con¢ern basis unlLss it is inappropriate to assume Ihai the charily will b¢ able lo Luntinue io meet ils 4)bj¢¢iiv¢$. The iru5lee.% are re%ponsible for keepin8 aecouniing Tttords ivhich disclose wilh reasonable accuraey ilie fiiianLial p)siiiuD ol'th¢ Lharily Ul any lim¢. ¢Dabl¢ th¢ Irusl¥¢s Iv ¢nsurv thai Ihe finaDLial sial¢mvnis Lumply wilh the C.haritiei ALt 2n1 l. the C'harity IALLounLS and Reports) Re¥ulaiions 2(K)¥ and the provisioiis ofil)e ITU%1 deed. They are l%u r¢%pun%ibl¢ Ivr %af¢¥uaTdinB ih¢ ¢haTiils Js¥¢l¥ and h¢n¢¢ f4)r ￿kIn¥ T¢￿#ble $*ps fur th¥ PT¢v¢nliun #nd deleLiion uferror. fraud and oiher irre¥ulariiies. The Iru%iee% dl%0 Lonfirni ihai Ihey ha%'e made all neLtssary enquirits and tsken such %ieps ihai Ihey ought lo, 10 eii%ure Ihat Ih¢y b¢Luffl¢ awa￿ ol'any r¢l¢i'anl audii infonnaliL)n and ihal ih¢y Lonlirni ihul ili¢ Cliurilabl¢ Trust's audiluT% hilV¢ been mdde aware ofsuLh Infornmlion. Si¥ndture and DeLlaraiion By Order ofthe TTUStee5 41912025 Si¥ndture'. Dale.. It.EA.MrtlkfeaH 61912025 Signature.. Dal¢'. INDEPENDENT AUDITORS, REPORT TO THE TRUSTESS OF FREIYCH HUGUENOT CHURCH OF LONDON CHARITABLE TRUST Opinio We have audiied the financial StsI¢n￿nts of French Iluguenoi Church of LL￿d0￿ Charithble Trust for the vear ended 31 Decem￿1 2024 whiLh compnse the Siatement tsfFinancial Aciii'ilies, BalttrtLe Sheei and noies tr) the finartLial ￿tal￿men1￿, including a sumrnary of significant accounting policies. 'Ihe financial TerN)rting framework Ihai has beeii applied iii their preparation is applicable law artd Urtiied Kin¥dtsm Accouniirt8 Standards, irtcludJn¥ Financial Reporting Standard 102 The Financial Reponing Standard applicable in lh¢ UK and Republic of Ireland {United Kingdotn Generally Acceptcd Accouiiting PTactlLel. Ill our opinion. the finaneial ststments.. - ¥ive a tTU¢ and fair view of ihe 51ate of the charity'5 affaiTS as at 31 Ikc¢mber 2024 and of the charily'% nct tnoi'emenl in (ui)ds for the year ihen ended: haN'e be¢n properly prepared in accordance with Unl￿d Kingdom Generally Acctpted Accountin8 Practice. and have been prepared in accordance with ihe requirements ofihe Charities Act 2011. Bas1% for oplnlon W¢ h{1￿¢ b¢¢n jippoini¢d as audi¢or under se¢iion 144 Of Ihe ChaTiiies A¢1 2011 and reN)ri in a¢¢oTdan¢e with lh¢ Ali and relevaiii regulations made or having e(feci Ihereujider. We eondueied our audii in accordance willi Intemalioiial Staiidard% oli AuJilin¥ IUKI IISAs IUKII appli¢able law. OUT r¢wnsibilili¢s und¢r thos¢ $tsodaTd% aTe lurth¢r (les¢rib¢d in lh¢ Audiior's re%pon%ibiliiie% lor the audii ofihe financial $￿tel￿niS section ofour report. We are indepeiident of ilie Lliarily in aLLordaiiLe wilh lh¢ 4kihiLo1 r¢4uiT¢m¢ni% Ihdi aT¢ r¢l¢vani Iv audii tsf lh¢ firtJn¢i¥l $Ul¢ft*rtl¥ in Ili¢ UK, in¢ludiii¥ Ihi FRC % Eihiial Sidndiird, dnd M'e hdve fulfilled UUT other eihical resrrt)n%ibiliiies in acconlance ii'ith ihese Tequireinents. We believe iliat Ilit audil ￿￿1￿¢￿￿¥ w¢ have ub¢ain¢d is $ulTILi¢rJi and appwprial¢ lo provid¢ a basis for our upir)ivn. C.onclu51on5 relgllng to golng ¢on¢ern In dudi11n¥ Ihe linaticidl ilalLmL'ni%, Ive have concluded thai th¢ tnLSt¢¢s' us¢ of the ¥oin¥ con¢¢rn ba$1¥ of a¢¢ountiii¥ in ili¢ pr¢paTUtion ofihc financial 51alernents is appropriai¢. on the work we have perfornml, we have n4)i ideniified any Thienal uncenainiie% relatin¥ 10 evenL% OT Londiiions thdl. individually or coll¢cliv¢ly* may rasl 5iyific?ni doubi on Ih¢ charit￿5 ability to coiitiiiue as a goin￿ concem for a period of at leabt twelve munihb frum when the finanLial Sth*ments are auihorlsed for issue. Our ￿SpOnsibl11¢1¢s and th¢ r¢sponsibiliti¢s of th¢ ¢nts*¢5 with r¢sp¢d Lo going ronr¢m aT¢ d¢*ribd in th¢ r¢l¢vant 5¢ftion5 of Ihis rLporl. OthL'r Informatl¢bn The Iruslee.% dre re%punsible for the other infornmtiort. The other infomthtion comprises the inf0m￿tion included in the Trustee%' Annual Report. Our opinion on the financial Sth1¢[￿nts does nol cover ihe oiher infomiaiion and, except io the extent 01h¢T￿ls¢ expliLiily stated in Our reJM)r( we do nvl exp]tss any form ofassurdnce LY)[icl￿i0rt thereoth. In Lonneuiion wilh our audil ofihe fiThanLLal siaiemethts, our responsibility is ￿ read Ihe tslher Info￿110n and, in doing so, Consider ￿'hether the other infortnalion L5 Inal¢Tially inconsisleni wilh the financial 51aletnents OT our knowledge obtsined iii the audit or uiherwi¥e dppeaTS tv bv mdteTially M]￿la1ved from ihe events and iran&qciions reflecied in the tinancial slatemenLs, as w'e will be less likely to awaTe of instsDr¢s of non-cornpliance. The risk is al￿0 great¢T r¢BaTdiD irrebTrulariiies occurrinb) due 10 fraud rather than error. &$ frdud involves inteniional concealmeni. foryery. collusjon, tni%4iun ur rnist¢pr¢%¢niation. A lurthei degLfipiiort olour Tesponsibililjes for th¢ audii ofthe fitththcial stsi¢n*nis is located on Ihe FinanLial R¢portin Council's website at.. wwW.frc.OTg.uWaudi￿rSre5t￿n51bil1lIc5. This descripiion forms parn of our audiioT'S TeporL Us¢ of our r¢port This r¢tKJn is tll4td¢ $ol¢ly 10 lh¢ LhaTi¢y's wugi¢v&. as a iK)dy* in a¢¢ur(lan¢¢ w'ith 144 of th¢ Charities ALI 2011 Itn regulaiions made under section 154 of thai Aei. Our audii work h&$ been undeft8ken so Ihai we mighi SL8te 10 ihe charity'% Iru.41¢¢s Ihu4e tnallerg w¢ aT¢ r¢quir¢d 10 ￿ta￿ Iv them in an AudiiLirfs rqK)rt an(J fvr nLI LIth¢T purrK)s¢. To ihe full¢%t ¢¥lcnl perniiiied by law. we do not accepi or assun* responsibility 10 anyone other than ihe ch8rity's Irustees as a b￿Y for our udit wurk, IUT thi¥ r¢pL)rt, t)r lor th¢ L)pinivns w¢ hav¢ fvrm¢d. HAy&MA& LLP 8 September 2025 IlaybMaL LLP Dale Siatulvry Audilors 10 Queen Str¢¢¢ Place London EC4R I ACJ Hay5Mac LLP is ¢li¥ibl¢ to acl as an audilor in terms ofscciion 1212 Of￿7¢ Com￿nic5 Ad 21MJ6 io- FRENCH HUGUENOT CHURCH OF LONDON CHARITABLE TRUST BALANCE SHEET AS AT 31 DECEMBER 2024 21124 2023 -Yole TrIXED ASSETS Inve%¢nient PToperty Investmertts 22O.(KX) 220.0(K) .354.545 1.574.545 11.6y8.?41 I I.IN)8.?41 CURRF.Tr*'T ASSETS L'ash 471 bank l)ebtor5 134.676 162 134.838 181.289 317 ISI,606 CURRF.liT I.IABII.ITIF.S CrcditOTS.' arnounts fallin8 due within one year 31.2041 83,3351 NETCURRENT ASSETS 103.634 98,271 NLT ASSTr.TS LESS CURREYT LIABILITILS 12.011.875 1.672.816 REPRESENTED BY pern￿nent Endowryneni Fun¢L I I,W8.?41 11,574,545 Re%triLted Funds Church Iducational Hardship 13 13 13 30,019 41.931 31.684 30,0￿) 22.906 45.31?5 103,634 98.271 TOTAI, FUNDS I2.011.￿75 11.672,816 41912025 Approved by th¢ Trwst¢e$ and signed on their behalf on ....................................................-. Trustee Trustee -12- FRENCH HUGUELNOT CHURCH OF LOIIDON CHARITABLE TRUST NOTES TO THE FINANCIAL STA TEMENTS I Prillcipal ActountinR Policies The ￿¢￿nts have been p￿pared in ac¢ordance wih applicablt *cL)untsng stsndants. the particular accwnting policies which havt been ado)i¢d (k￿ribed klow.'- lal Basls of aceountSng The fitwjcial slalements have been preparcd in xcordance with Acc￿￿ting a[￿ Reportin8 byehdriiies.. Staletnenl or Recommended Praciice applicable to chariiics {effectJve l January 20191 preparing their accounis in accoTdance wilh the Financial R¢wrtin8 Standard appliubl¢ in th¢ UK and R¢publi¢ of Ir¢land IFRS 1021- ILhanti¢s SORPIFRS1021 (Second Edilionll. Th¢ Fr¢nch HuBu¢nol Church of L(MJdon Choritabl¢ TnL4 th¢ d¢finition oca publi¢ ￿lIty under FRS 102. Ass¢ts nd liabililiL's are initially rwosnls￿ al hIs￿riCal QT tyansarEion valu¢ unl¢ss oth¢rwis¢ stal¢d in th¢ rel¢vDnl J¢cwnlin8 wli¢y nui¢s. The regisiered athlress is.. 10 Queen Sireei Place. knd￿. EC4R IAG. Ibl GolnE Concern Thc Truslc¢¥ as¥csscd lh¢ Charily'$ rCquIr￿r￿wis for Ihc fOrc$¢￿ble fuluT¢. Th¢ Tr￿1￿$ arc conf)d¢nl ihui Ilic Charity'ti fL￿¢rv¥S Jrc suffiLi&ni 10 cnablc ¢)wJiion& lincluding grants commillcdl t4) cwilinuL at a ¥u%laiii&bli ILVLI fur pLriiKI ofai IcJsi 12 months fwin Ihc dai¢ vfjpprvval ofthrsc fiiiancial sth*rn¢ThL4'. Tli¢ Chdriiy ihcn'fvrL cwiinu¢ lo dilopl Ihl 80ing ¢on¢Lm b&sis in PTwrin8 lis financial siatwnwit¥. A$ nv mai¢rial un¢¢miniic$ a￿ul th Churiiy'ts ability lo coniinuL OPLThin& the accounts haie tr¢cn PTLyarcd on a 80ing concLTh basib. The ¢ndowm¢ni funds represth)I Ihoseassets. pritKipally inves¢mtni PTOpthies and invtsthicnts. hcld ￿n￿allen1]Y by the ¢harily. Any saitts or10s5es aii51ng vn the inv¢sth1L￿ts fom) part of Ihe fU￿J. Th¢ income g¢nLYaied by ihe invesinK'niy 15 dibiributed ab set oui ￿lOw. Resipiciedlnrome Ftinds Chiireh Th¢ in¢omc from this fund is pid to th¢ consist￿or t￿ch￿￿h ro bc applicd for th¢ pury￿)￿ of lh¢ Church. EAiicaiional Thc fund is mainly for dt51ribuiing buy5arit& 5pe¢iil allo￿7￿ ¥twJ 8¢n¢rnl emer8enc)' and proiL*I ￿￿niS lo individuals. ￿h￿l5 artd TrTrtiOU5 charitable organisalions cuncemgd with assisting yOUll8pcople. Money 15 a150 paid lo the Consistoryof the Church lo tLelp fund their youth work a[￿ lo provide butsaries foT chilthrn of tneJnber5 of the Church. Hord.%hip Th¢ incom¢ is distribut￿ in th¢ pn)vision of r¢lirfio rrtrws who¥re in n¢￿ hardship Wd15￿$. Idl Prnperties Frtthvld re￿e[s1On is at tnarka ￿lue. le) Inie$tments Listed InTr￿￿￿entS are included al clostn£ mi(kmarkd value at the balance Sheet date. Any gains or l(k&ses on revaluation are tsken to the Ststffllleni olFinancial Aciii"iiies. -13- FRENCH HUGUENOT CHURCH OF LONDON CHARITABLE TRUST NOTES TO THE FI￿ANCIAL STATEMENTS le) Investments continued Unlisted investtnents are included at C05L the tr￿1￿5 being 5ati5fied thai this repTe5ents a fair value for the invesimeni. {fj C.a5h And ¢a5h cquivalcnt5 Cash and t￿h e9u1￿￿]ents includes eash artd shtsrt *m) hi8hly liquid ithvesth*nts with short iemi maiurily of three monih5 OT less from the dale of acqui5iiion or ottning of Ihe deposii or 5imilaT accounL Igl GrAnts Cirants payable are payments nude in furtherance of the charithble objeeiives of ihe Church. Single or Inulti-year ¥ran￿ arv oi¢ouni¢d lor wheth eiih¢T th¢ T¢LJpieni has a i¢wnable ¢XP¢¢tsiion that ihey will r¢¥¢ive a wanl dnd Ihe irusiees have agreed 10 pay the grani wiihoui condiiion. or the recipieiii has a reasonable expecthiion Ihal Ihey will r¢L¢lV¢ a grani artd any Londilioth atth¢hin¥ 10 ihe ¥r8ni is ouL%id¢ the ¢Othirol of ihe Trusi. Pruvi5ion5 for grdnts are made when ihe inieniion ￿ make a 8fdnt has been cominuii1ca￿I ￿ Ihe Tecipient but Ih¢r¢ 1$ un¢¢nJiniy aixjui ¢ith¢r th¢ liming of the ¥rnni or th¢ anM)uDi of payable. Ihl For¢lgn iurrtney TransaLliun% in fuT¢i¥n Lurr¢nLy ar¢ r￿x)g￿ls￿ ill ih¢ ral¢ uf ¢xLhan¥¢ as thr (Jal¢ vftransdL¢iui). A%s¢l% h¢ld in loreign iurrenly are tran&laied inio sierlinu ai ihe exLhange Tale ai the balance She￿ dJ*. All exchanue rdte dill¢r¢n¢es are r¥Lv¥nis¢d IhTvu¥h ihe $tsi¢nKni 4)f fJnan¢ial a¢tivi¢i¢$. 111 In¢omL' And exptndlture Itiioine and L.XPltid¢iurL ofihe Tr￿￿ is alloca*d 10 each fund in pro￿nIon ￿ e4cli fund's share ofil)e tothl p¢r￿nent ¢ndowrt*nt, ¢x¢¥pi fvr dir¢¢i ¢osts which ¥Y¢ Illo¢#*d ¢0 ihe fund to whi¢h Ih¢y r¢lJi¢. In¢oime and expetidiiure ib &LouiiieiL r(Fr on an aLLruais basis. ChurLh Fund EduLational Fund I lardship Fund 3? 6803 36.46Y* {Jl Credltor5 xnd prow151ons CrLdiiors and proi'isioiis ar¢ recognised where the charily has a present obligalion Tesuliing from a past eveni thal will prubably re5uII In the iransfer of furtds to a thiid party and Ihe atmunt due lo setile the obligaliuii can be measured OT es¢imated reliably. Credi(ors and provisions are nonnally recognised ai their seiileinenl ainount aft¢T dlluwirt¥ fur dny trade dJ5Lounts due. Ikl Estlmxttx and Judgtments Estimates and judgements are continually evalua*d and are based on hisiorical experience and other laclors, including ¢xp¢rtalion5 of futur¢ eV￿ts ihal aT¢ b¢li¢i'¢d io b¢ reasonabl¢ under the ¢iT¢Urn51anr¢s. Allllou￿h Iliese estimates are based on the (rusiee's besi knom'ledge ol'Lhe amouni. ei'ents or actions, aciual results ultimately diffeT from the4e e5tim3te5. The tTUStee5 do not consider there to be anymateTial estimates and judgement5. 01 Financial instrurnents The charity only ha5 finarKial a55¢ts and fillancial liabililies of a killd that qualifyas basic financial InStruTr￿￿ts. Basic financial Insirumenis, Ineluding trade and other debiors and cltdi￿rS are Initially reco8tsised al iransaclion value and 5ubsequ¢ntly tttasuTed ai their 5¢tt1¢m¢ni value. 14- FREINCH HUGUENOT CHURCH OF LONDON CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS 2 Investment Income 2024 R¢strirted Fund5 2024 Church Educ¥tlOll81 H4rd$hip Total Income froTn listed investTr￿n15 146.952 163.949 lJ8.768 449,669 Bank and other interest 279 312 264 855 147.231 164.?61 1.19.n.32 450.5?4 21123 R¢strl¢ied Funds 2023 Church Edu¢4tlon41 H4rd%hlp Tot41 InLome from listed investmen 153,7511 171.543 145,195 470.496 Bank and other iniere51 107 327 153.X65 171,fify2 145.296 470,1123 3 Co$1 of grner#tlrtg fund$ 2024 Endowmtnt Fund 2024 Chur¢h Edu¢atlon&l HArdshlp Tot&l Inve5tm¢nt fflanagern¢nt fees 18,177 20,280 17,165 55,022 18.177 10.780 17,165 2023 Endowment Fund 2023 Church Educational Hardshlp Total Inv¢5tTn¢nt rnanag¢tn¢nt f¢¢s 17.719 19,768 16,732 54,219 17.719 19,76¥ 16.732 54,219 15- FREINCH HUGUENOT CHURCH OF LONDON CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS 4 Grants 2024 Re5trActed Funds Church Educ#tional Httrdship 2024 Tot#1 Bursaries, Brants a￿1 charithble payments In¢uTn¢ paid to ChurLh 130,21R I4(),(￿0 270,218 133,750 133.750 133.750 130.218 140.000 401,96¥ 2023 Re%tricted Tr-und5 Church Educational Hardshlp 202.1 TotAI Bursari¢%, grant4 al￿ charithble pa}ryT￿t& InLOtne paid to ChurLh 169.985 140,000 309,985 15?,222 152.222 152?22 109.985 14n.Of>O 4th? ?n7 D¢lailb of¥Tants mad¢ are shown below. 2024 C.hur¢h Fund. Cunsiilory ofThe French Protesthni Church ofLondon CiovemanLe LO 1,250 16- FRENCH HUGUELNOT CHURCH OF LONDON CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS Panathlon Foundation Place2B¢ Read Easv Hannsey Redihread 1,500 2,800 2,000 3,000 Reedham Children's Ttusi SL-arattwuche Sailing TTU5t ?,doo SHtNE SnO￿d0￿ Awards 3.500 7.000 2,000 1,250 -1,500 2,800 2,000 Spitaifi¢lds Music Si Wuulus Cath¥dral TLCI West London Zone I,O(M) 3.0(M) 1.250 15.018 145 ?30 Goveman¢e costs Inoi¢ 51 183,592 21)24 2023 Fund.. Cifdtll% 10 in%lilUtion$ A¥¢ UK Eas¢ London AgTe UK Westminster Baron'h Couri 6,000 fi,000 s.i)o() 3.Q(M) 5.000 4WS C.ARA Cardiiial Ilurne C¢nlre Caris Families CTiSiS Dispensaire Franca15 D{￿l￿r5 of Ihc WoTld Islington Centre lor Refugtts arml Migrants KRAN LivJnB Words MagiL M Music in Hospits15 Nolre Dame Refugee Cent Pr4qKiS Communiiy Projects Quaker Solial ALlion Re-ertgage Support fur the Elderly Refugee C.'ounril Salusbury World Soup Kitchen &)uthamptort and Winchesier Visitors Group Spitdifield% Crypt Trust Si Cuthb¢rt's Centre 6.(K)O o,noo fi.000 6.000 (I,aOO 0,0110 6.000 6.0 5,0(KJ 6.0(M) 3.000 3.000 0,000 S,0(K) 5.0(M) 6.000 6,000 5.000 6.000 6,000 6,000 6.000 5.0 6.0 5.0(N) 6,000 17- FRENCH HUGUENOT CHURCH OF LONDON CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS St Giles Trust Si Mungo's Sul'folk Refu&Tree Support The Conrteciion ai Si-Martin-in-the-Fields 5.000 6.0(M) 6.000 6.000 Time Tdlenls 6.000 6.000 6,000 T0￿b¢¢ Hall Trus5el Trust Upper Room West Londort A¢iion for Childr W¢%t Lundon W¢l¢un* for Refu¥ees 'LM Your Place Governance eosts Inoie 51 &,000 5.000 6.000 6,000 0.000 6.000 12,713 152,713 5 Gov¢rngn¢t Co$t$ 2024 Re%irl¢itd F￿ndS 2024 Churth Edur*ilohal H*rdshlp Tvlal Audit(Ir% remuneration.. Siaiulory audit Bookkeepinby and adminislration Bank ¢hor¥e$ Other 4.555 8,1124 32 51 5.t)82 4.3Q2 11.332 27.(IDO 99 155 36 56 48 13.462 15.0111 41,193 2023 ReMrl¢t¢d Funds 2023 Chur¢h Ldu¢*ilon*l H*rd$hlp Tot*1 Auditor5 r¢mun¢ralion'. Statutory audil Accounting Bookkeeping and administration Bank Lhdrges 4,298 13.0981 10.948 49 4,795 (3,456) 4,059 12.9261 10,338 19,4801 33,500 149 54 12.197 13.607 37,321 18- FRENCH HUGUENOT CHURCH OF LONDON CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS 6 Investrnent Property 2024 2023 Freehold ReveT%ions'. 14 to 18 Noel Str¢et. Soho. Wl 1250 year lease expiring 25103122581 2•0,000 220,000 7 Investrnents 2024 2023 MilTkLiI valu¥ as ai l January 2024 Acquisitions ai ¢osi Di%pos#ls Add.. Nei gaitvilossl on r¢valuaiion Add.. N¢1 gairVllo.%%l on sale of invcstmcnts 10.980.908 2.2(h).178 11.888.2X91 369.171 20,146 11,415.676 11.756.220) 1115.2651 79.8941 MarkLI valuL ul 31 fxxLmbcT 2n24 Capital 11,682.114 6,127 10.980,908 373.617 Total invcslmcn15 .6NX,241 11.-154.545 Hi%t()rical C(i%t 11.312.943 11.25U.￿O2 All inv¢%im¢nis h¢ld ai th¢ be￿.nn1n& ihroughoui and ai lh¢ ¢nd ofih¢ y¢Jr w¢r¢ lisi¢d on r¢¢ognis¢d st(Kk ThL. 20*4 markL•I VdluaiicTrn of£1 1.682,114 12023.. £10.980.9081 included an a88rega￿d unrealisLd gain of£369.171 12023.. 1055 ul-£l15.205I. 8 C#$h 2024 2023 Catb2L nk Current Account Catbank Qiold Account Raihbonts Tnc(Trme Account 77231 49.377 8.068 174,015 7.274 134,1)76 181.289 9 Debtors 21124 2023 Sundry debtors 162 317 162 317 19- FRENCH HUGUENOT CHURCH OF LONDON CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS 10 Crditors- falliD% due within olle i'car 2024 2023 Sundry Lrediluts GranLS payablc 24.954 1,500 22,672 4,400 56.263 ChU￿h Fund 4.750 31,204 83.335 I l Relited parilts And Trustees, txpenses Nu LXPL'llSL'S WL'r¢ rLirnburs¢d tu IruslL* s duriJ)¥ th¢ y￿12023.. £nill. No r￿1Ved aJ)y T￿nvI)cra11on in ¢onrt¢¢lion Wilh Ih¢ir tri￿[¢¢ duli¢%12023= w¥rt¢l. TheTe W¢Te no oih¢T T¢knied pthy transaclions in lh¢ y¢ar12023.' non¢l. except for payTh¢nis nwde lo th¢ French Prol¢%laJ)I Church of London of £133,75012023.. £1522221 whi¢h h•$ ¢omTrth twsi¢¢s. 12 Staff coitS 2024 202.1 Salary 3.000 3,000 3,000 Thcrc wcr¢ no Nalion81 In5ur4ncc OT Pcnsion wntribuiions ffladc in ih¢ y¢aT (2023.. noncl. There w¥s une member of siaff employed by Ihe in 2024 120?3-. one). No employee received remutmtion amountin8 to more than £60.(MX> it) the year. -20- . rt. r-l