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2024-12-31-accounts

Docusign Envelope ID: 0711FADC-76F8-41D2-B711-18F4824864EE

Registered number: 01389165 Charity number: 260601

THE CONGREGATIONAL MEMORIAL HALL TRUST (1978) LIMITED (A company limited by guarantee)

COUNCIL MEMBERS' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Docusign Envelope ID: 0711FADC-76F8-41D2-B711-18F4824864EE

THE CONGREGATIONAL MEMORIAL HALL TRUST (1978) LIMITED (A company limited by guarantee)

CONTENTS

----- Start of picture text -----
Page
Reference and administrative details of the company, its council members and 1 - 2
advisers
Council members' report 3 - 7
Independent auditors' report on the financial statements 8 - 12
Statement of financial activities 13
Balance sheet 14
Notes to the financial statements 15 - 35
----- End of picture text -----

Docusign Envelope ID: 0711FADC-76F8-41D2-B711-18F4824864EE

THE CONGREGATIONAL MEMORIAL HALL TRUST (1978) LIMITED (A company limited by guarantee)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS COUNCIL MEMBERS AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2024

Council members

Rev. C. J. Damp, Chairman Mrs. S. Austin Mr. P. Bonnier Rev. T. Brand Rev. B. J. Bridges Mr. J. G. Ellis Rev. G. M. Evans Dr. D. L. James Rev. J . J. Macro (resigned 23 September 2024) Mrs. M. M. Thompson Rev. D. M. Wales

Page 1

Docusign Envelope ID: 0711FADC-76F8-41D2-B711-18F4824864EE

THE CONGREGATIONAL MEMORIAL HALL TRUST (1978) LIMITED (A company limited by guarantee)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS COUNCIL MEMBERS AND ADVISERS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

Company registered number

01389165

Charity registered number

260601

Registered office

17 Springfield Park, Alnwick, NE66 2NH

Principal operating office

17 Springfield Park, Alnwick, NE66 2NH

Company secretary

Mr. W. Duncan

Independent auditors

Griffin Stone Moscrop & Co, 21-27 Lamb's Conduit Street, London, WC1N 3GS

Bankers

Triodos Bank UK Ltd, Deanery Road, Bristol, BS1 5AS

Solicitors

Sintons LLP, The Cube, Barrack Road, Newcastle upon Tyne, NE4 6DE

Page 2

Docusign Envelope ID: 0711FADC-76F8-41D2-B711-18F4824864EE

THE CONGREGATIONAL MEMORIAL HALL TRUST (1978) LIMITED (A company limited by guarantee)

COUNCIL MEMBERS' REPORT FOR THE YEAR ENDED 31 DECEMBER 2024

The council members present their annual report together with the audited financial statements of the company for the period 1 January 2024 to 31 December 2024. The annual report serves the purposes of both a council members' report and a directors' report under company law. The council members confirm that the annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).

Since the company qualifies as small under section 382 of the Companies Act 2006, the strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.

Objectives and activities

a. Policies and objectives

In setting objectives and planning for activities, the council members have given due consideration to general guidance published by the Charity Commission relating to public benefit and in particular to its supplementary public benefit guidance.

The principal objectives of the Trust are to provide grant funding to its constituent bodies in respect of their activities and to maintain the Congregational Library. These objectives ensure that the Trust meets the Charity Commission's public benefit criteria.

b. Activities for achieving objectives

The principal activities of the Trust have continued to be the maintenance and upkeep of the Congregational Library, the continuance of the Congregational Lectures, and the making of grants to the United Reformed Church and Congregational Federation and the Evangelical Fellowship of Congregational Churches.

c. Grant-making policies

Grants are made in accordance with the trust deed.

Council meets twice a year and at the second meeting held each year (in September) the decision on the appropriate level of total funds to be disbursed by way of grant is made. Grants are made to the three constituent bodies in the following proportions:

United Reformed Church - 70% Congregational Federation - 20%

Evangelical Fellowship of Congregational Churches - 10%

In addition Unaffliated Congregational Churches Charities will receive 1% of the total awarded to the three main constituent bodies.

Grants to these bodies in the year 2024 amounted to £83,242 (2023 - £166,875).

During the year a grant of £300 was made to Rev. T. Brand, a Council member (see Note 11 for further details).

Page 3

Docusign Envelope ID: 0711FADC-76F8-41D2-B711-18F4824864EE

THE CONGREGATIONAL MEMORIAL HALL TRUST (1978) LIMITED (A company limited by guarantee)

COUNCIL MEMBERS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

Objectives and activities (continued)

d. The Congregational Library and Lectures

The Trust hosts a Congregational Lecture annually, which is an opportunity for scholars to do research and contribute to the thinking of those in the Reformed tradition and add to the theological thought of the whole Church.

Achievements and performance

a. Review of activities

A summary of the year's results is given in the statement of financial activities, the balance sheet and the notes to the financial statements.

During the year, the Trust made charitable grants of £83,242 (2023 - £166,875).

In April 2022, the company’s lease of premises at Dr Williams’s Library and its management agreement with Dr Williams’s Library came to an end and after careful consideration the council of management decided not to extend or renew these. The collections and records were placed in temporary offsite storage under the direct control of the Congregational Library. Westminster College, Cambridge has been selected as a new library partner, following research and negotiation. Part of the collections are being transferred to Westminster College and part remains in storage.

b. Investment policy and performance

Under the memorandum and articles of association the Trust has power to make any investment which the council members see fit. The trustees seek to ensure that the investments generate income sufficient to meet the demand for grants and the maintenance and upkeep of the Congregational Library.

During the year ended 31 December 2024 the Trust's fixed asset investments increased by £291,394.

The council members have appointed CCLA Fund Managers Ltd (CCLA) as sole managers of the Trust's funds, which are invested in the COIF Charities Ethical Investment Fund.

Financial review

a. Going concern

After making appropriate enquiries, the council members have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements.

b. Reserves policy

The Trust is wholly dependent on the income from its investments. Council has established a policy whereby such of its funds as are not committed or invested in tangible or other fixed asset investments held by the Trust should be equivalent to not less than three months' worth of total annual resources expended. At this level, council feels that, in the event of a significant drop in investment income, it would be able to continue the current activities of the Trust.

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Docusign Envelope ID: 0711FADC-76F8-41D2-B711-18F4824864EE

THE CONGREGATIONAL MEMORIAL HALL TRUST (1978) LIMITED (A company limited by guarantee)

COUNCIL MEMBERS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

c. Principal funding

The principal funding of the Trust is generated by the investment income derived from its investments.

d. Material investments policy

Material investments held by the Trust have been held for their future growth and income-generating capabilities.

Structure, governance and management

a. Constitution

The Trust is a trust of the charity known as The Congregational Memorial Hall Trust (formerly The Congregational Memorial Hall in Farringdon Street in the City of London), which is governed by its foundation deed of 5 July 1872 as affected by three Schemes of the Charity Commissioners and the memorandum and articles of the company. The company conducts no other business.

b. Policies adopted for the method of appointment or election of council members

The management of the company is the responsibility of the council members who are elected and co-opted under the terms of the Trust deed.

The council usually comprises 12 members who are appointed by the consituent bodies (6 members by the United Reformed Church and 3 members each by the Evangelical Fellowship of Congregational Churches and the Congregational Federation). Currently there are 2 council member vacancies.

c. Organisational structure and decision-making

The day to day affairs of the Trust are managed, under the direction of council, by the clerk, who is the company secretary. All decisions are made by council who meet twice a year and at any other time when considered necessary.

d. Risk management

Council have identified the major risks to the Trust as being related to movements in markets and particularly fluctuations in income distibutions. We are invested in the COIF Charities Ethical Investment Fund. This is an actively managed, balanced portfolio with a key objective of keeping risk under firm control. The fund invests in a diversified portfolio of good quality assets spread across a range of sectors including equities, bonds, property and some alternative assets. In addition, appropriate arrangements have been taken to reduce the risk of damage to the Congregational Library and artefacts. Council monitors and manages the major risks faced by The Trust on a regular basis.

Page 5

Docusign Envelope ID: 0711FADC-76F8-41D2-B711-18F4824864EE

THE CONGREGATIONAL MEMORIAL HALL TRUST (1978) LIMITED (A company limited by guarantee)

COUNCIL MEMBERS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

Plans for future periods

Since April 2022, The Council of management and The Library sub-comittee have been reseaching potential new library partners. An agreement has been reached with Westminster College, Cambridge which will see The Congregational Library relocated to and working out of the College.

There are numerous synergies between Westminster’s current library and archives collections and that of the Congregational Library. We all look forward to a new epoch when the Library’s collections are promoted and Westminster becomes a place of research, discussion and conferencing, celebrating the Congregational and Dissenting heritage and exploring its continuing contribution to Christian life in these nations and beyond.

Since the year end a Librarian has been appointed and we have started to relocate books from external storage into rented space at the College. Council are beginning work on a business plan to develop the synergies identified in the new partnership.

During 2025 the present Clerk (Company Secretary) will retire and his successor has been appointed. There will be a suitable handover period to ensure no interruption in the smooth organisation of the charity’s operations.

We hope to fill the two Council vacancies.

Members' liability

The members of the Trust guarantee to contribute an amount not exceeding £1 to the assets of the charity in the event of winding up.

Heritage assets

Heritage assets comprise manuscripts, library books, chairs, portraits and a bust.

Page 6

Docusign Envelope ID: 0711FADC-76F8-41D2-B711-18F4824864EE

THE CONGREGATIONAL MEMORIAL HALL TRUST (1978) LIMITED (A company limited by guarantee)

COUNCIL MEMBERS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

Statement of council members' responsibilities

The council members (who are also the directors of the company for the purposes of company law) are responsible for preparing the council members' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the council members to prepare financial statements for each financial year. Under company law, the council members must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the council members are required to:

The council members are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and 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.

Disclosure of information to auditors

Each of the persons who are council members at the time when this council members' report is approved has confirmed that:

Auditors

A resolution to re-appoint Griffin Stone Moscrop & Co, Chartered Accountants and Statutory Auditors, as auditors of the Trust will be proposed at the annual general meeting.

This report has been prepared having taken advantage of the small companies exemption in the Companies Act 2006.

Approved by order of the members of the board of council members and signed on their behalf by:

Approved by order of the members of the board of council members and signed on their behalf b
................................................ ................................................
W. Duncan C. J. Damp
Secretary Chairman
Date: 4 September 2025

Page 7

Docusign Envelope ID: 0711FADC-76F8-41D2-B711-18F4824864EE

THE CONGREGATIONAL MEMORIAL HALL TRUST (1978) LIMITED (A company limited by guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE CONGREGATIONAL MEMORIAL HALL TRUST (1978) LIMITED

Opinion

We have audited the financial statements of The Congregational Memorial Hall Trust (1978) Limited (the 'charitable company') for the year ended 31 December 2024 which comprise the statement of financial activities, the balance sheet and the related notes, 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 Reporting 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:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' 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 statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence 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 council members' 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 not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's 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 council members with respect to going concern are described in the relevant sections of this report.

Page 8

Docusign Envelope ID: 0711FADC-76F8-41D2-B711-18F4824864EE

THE CONGREGATIONAL MEMORIAL HALL TRUST (1978) LIMITED (A company limited by guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE CONGREGATIONAL MEMORIAL HALL TRUST (1978) LIMITED (CONTINUED)

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditors' report thereon. The council members are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinion on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of our 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 council members' report.

We have nothing to report in respect of the following matters in relation to which Companies Act 2006 requires us to report to you if, in our opinion:

Page 9

Docusign Envelope ID: 0711FADC-76F8-41D2-B711-18F4824864EE

THE CONGREGATIONAL MEMORIAL HALL TRUST (1978) LIMITED (A company limited by guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE CONGREGATIONAL MEMORIAL HALL TRUST (1978) LIMITED (CONTINUED)

Responsibilities of trustees

As explained more fully in the council members' responsibilities statement, the council members (who are also the directors of the charitable company for the purposes 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 council members determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the council members are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the council members either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Page 10

Docusign Envelope ID: 0711FADC-76F8-41D2-B711-18F4824864EE

THE CONGREGATIONAL MEMORIAL HALL TRUST (1978) LIMITED (A company limited by guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE CONGREGATIONAL MEMORIAL HALL TRUST (1978) LIMITED (CONTINUED)

Auditors' responsibilities 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 auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually 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 laws 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 fraud is detailed below:

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

As part of an audit in accordance with ISAs (UK), we exercise professional judgement and maintain professional scepticism throughout the audit. We also:

Page 11

Docusign Envelope ID: 0711FADC-76F8-41D2-B711-18F4824864EE

THE CONGREGATIONAL MEMORIAL HALL TRUST (1978) LIMITED (A company limited by guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE CONGREGATIONAL MEMORIAL HALL TRUST (1978) LIMITED (CONTINUED)

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

Use of our report

This report is made solely to the charitable company's members, as a body, 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 required to state to them in an auditors' 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 its members, as a body, for our audit work, for this report, or for the opinions we have formed.

Robert Smith (senior statutory auditor) for and on behalf of

Griffin Stone Moscrop & Co

Chartered Accountants Statutory Auditors 21-27 Lamb's Conduit Street London WC1N 3GS

Date:

Page 12

Docusign Envelope ID: 0711FADC-76F8-41D2-B711-18F4824864EE

THE CONGREGATIONAL MEMORIAL HALL TRUST (1978) LIMITED (A company limited by guarantee)

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2024

Note
Income and endowments from:
Donations
4
Charitable activities
5
Investments
6
Total income and endowments
Expenditure on:
Charitable activities
8
Total expenditure
Net income before net gains on
investments
Net gains on investments
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Unrestricted
funds
2024
£
726
478
325,932
327,136
226,742
226,742
100,394
291,394
391,788
10,872,147
391,788
11,263,935		 Endowment
fund
2024
£
-
-
-
-
-
-
-
-
-
7,721
-
7,721		 Total
funds
2024
£
726
478
325,932
327,136
226,742
226,742
100,394
291,394
391,788
10,879,868
391,788
11,271,656		 Total
funds
2023
£
452
-
317,493
317,945
293,586
293,586
24,359
949,677
974,036
9,905,832
974,036
10,879,868

The statement of financial activities includes all gains and losses recognised in the year.

The notes on pages 15 to 35 form part of these financial statements.

Page 13

Docusign Envelope ID: 0711FADC-76F8-41D2-B711-18F4824864EE

THE CONGREGATIONAL MEMORIAL HALL TRUST (1978) LIMITED (A company limited by guarantee) REGISTERED NUMBER: 01389165

BALANCE SHEET AS AT 31 DECEMBER 2024

Note
Fixed assets
Tangible assets
12
Heritage assets
13
Investment
14
Current assets
Debtors
15
Cash at bank
Creditors: amounts falling due within one
year
16
Net current assets
Total net assets
Charity funds
Endowment fund
18
Unrestricted funds
18
Total funds		 4,522
322,521
327,043
(10,995)		 2024
£
37,900
7,721
10,909,987
10,955,608
316,048
11,271,656
7,721
11,263,935
11,271,656		 3,981
259,931
263,912
(11,813)		 2023
£
1,455
7,721
10,618,593
10,627,769
252,099
10,879,868
7,721
10,872,147
10,879,868

The council members acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.

The financial statements were approved and authorised for issue by the council members on 04 September 2025 and signed on their behalf by:

................................................

C. J. Damp

................................................ D. L. James

The notes on pages 15 to 35 form part of these financial statements.

Page 14

Docusign Envelope ID: 0711FADC-76F8-41D2-B711-18F4824864EE

THE CONGREGATIONAL MEMORIAL HALL TRUST (1978) LIMITED (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

1. General information

The Congregational Memorial Hall Trust (1978) Limited is a private charitable company registered and incorporated in England. The Trust's registered office address is 17 Springfield Park, Alnwick, NE66 2NH.

The company is a company limited by guarantee. The members of the company are the council members named on page 1. In the event of the company being wound up, the liability in respect of the guarantee is limited to £1 per member of the company.

2. Accounting policies

2.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with applicable charity and company law and in compliance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

The Congregational Memorial Hall Trust (1978) Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

2.2 Going concern

The council members consider that there are no material uncertainties about the Trust's ability to continue as a going concern.

2.3 Income

All income is recognised once the company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

The recognition of income from legacies is dependent on establishing entitlement, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of entitlement to a legacy exists when the company has sufficient evidence that a gift has been left to them (through knowledge of the existence of a valid will and the death of the benefactor) and the executor is satisfied that the property in question will not be required to satisfy claims in the estate. Receipt of a legacy must be recognised when it is probable that it will be received and the fair value of the amount receivable, which will generally be the expected cash amount to be distributed to the company, can be reliably measured.

Page 15

Docusign Envelope ID: 0711FADC-76F8-41D2-B711-18F4824864EE

THE CONGREGATIONAL MEMORIAL HALL TRUST (1978) LIMITED (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

2. Accounting policies (continued)

2.4 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources.

Support costs are those costs incurred directly in support of expenditure on the objects of the company. Governance costs are those incurred in connection with administration of the company and compliance with constitutional and statutory requirements.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the company's objectives, as well as any associated support costs.

Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.

All expenditure is inclusive of irrecoverable VAT.

2.5 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the company; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.

2.6 Tangible fixed assets and depreciation

Tangible fixed assets are recognised at cost, less accumulated depreciation and any accumulated impairment losses.

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the statement of financial activities.

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Docusign Envelope ID: 0711FADC-76F8-41D2-B711-18F4824864EE

THE CONGREGATIONAL MEMORIAL HALL TRUST (1978) LIMITED (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

2. Accounting policies (continued)

2.7 Heritage assets

Heritage assets are stated at cost. No depreciation is charged on heritage assets as they have an indefinite useful life and a high residual value such that any depreciation would be immaterial.

2.8 Investments

Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Net gains/(losses) on investments’ in the statement of financial activities incorporating the income and expenditure account.

2.9 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

2.10 Cash at bank

Cash at bank includes short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

2.11 Liabilities and provisions

Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the statement of financial activities as a finance cost.

2.12 Financial instruments

The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

2.13 Pensions

The company contributes to two separate pension plans (for the Librarian and Conservator) and the pension charge represents the amounts payable by the company in respect of the year.

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Docusign Envelope ID: 0711FADC-76F8-41D2-B711-18F4824864EE

THE CONGREGATIONAL MEMORIAL HALL TRUST (1978) LIMITED (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

2. Accounting policies (continued)

2.14 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the council members in furtherance of the general objectives of the company and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the council members for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the company for particular purposes. The costs of raising and administering such funds are charged against the specific fund.

Investment income, gains and losses are allocated to the appropriate fund.

3. Judgements in applying accounting policies and key sources of estimation uncertainty

Critical accounting estimates and assumptions:

In the application of the Trust's accounting policies, the council members are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

Page 18

Docusign Envelope ID: 0711FADC-76F8-41D2-B711-18F4824864EE

THE CONGREGATIONAL MEMORIAL HALL TRUST (1978) LIMITED (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

4. Income from donations

Unrestricted
funds
2024
£
Other donations
500
Gift Aid
226
Total 2024
726
Unrestricted
funds
2023
£
Friends of Congregational Library
452		 Total
funds
2024
£
500
226
726
Total
funds
2023
£
452

5. Income from charitable activities

Unrestricted
funds
2024
Total
funds
2024
£
£
Library & Reading Room user fees
478
478
Investment income
Unrestricted
funds
2024
£
Investment income - local listed investments
309,386
Bank and other interest
5,948
Fee rebates
10,598
Total 2024
325,932		 Total
funds
2023
£
-
Total
funds
2024
£
309,386
5,948
10,598
325,932

6. Investment income

Page 19

Docusign Envelope ID: 0711FADC-76F8-41D2-B711-18F4824864EE

THE CONGREGATIONAL MEMORIAL HALL TRUST (1978) LIMITED (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

6. Investment income (continued)

Investment income - local listed investments
Bank and other interest
Fee rebates
Total 2023		 Unrestricted
funds
2023
£
303,741
3,819
9,933
317,493		 Total
funds
2023
£
303,741
3,819
9,933
317,493

7. Analysis of grants

United Reformed Church - Maintenance of ministry
Congregational Federation - Church and ministerial support and ministerial
training
Evangelical Fellowship of Congregational Churches - Church and
ministerial support, training, conferences, publications and pastoral care
Unaffiliated Congregational Churches Charities
Book Grant
Total 2024		 Grants to
Institutions
2024
£
57,480
16,422
8,215
825
300
83,242		 Total
funds
2024
£
57,480
16,422
8,215
825
300
83,242

Page 20

Docusign Envelope ID: 0711FADC-76F8-41D2-B711-18F4824864EE

THE CONGREGATIONAL MEMORIAL HALL TRUST (1978) LIMITED (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

7. Analysis of grants (continued)

United Reformed Church - Maintenance of ministry
Congregational Federation - Church and ministerial support and ministerial
training
Evangelical Fellowship of Congregational Churches - Church and
ministerial support, training, conferences, publications and pastoral care
Unaffiliated Congregational Churches Charities
Trinity Congregational Church
Total 2023		 Grants to
Institutions
2023
£
114,960
32,845
16,425
1,645
1,000
166,875		 Total
funds
2023
£
114,960
32,845
16,425
1,645
1,000
166,875

8. Analysis of expenditure on charitable activities

Summary by fund type

Unrestricted
funds
2024
£
Library running costs
143,500
United Reformed Church - Maintenance of ministry
57,480
Congregational Federation - Church and ministerial support and ministerial
training
16,422
Evangelical Fellowship of Congregational Churches - Church and
ministerial support, training, conferences, publications and pastoral care
8,215
Unaffiliated Congregational Churches Charities
825
Book Grant
300
Total 2024
226,742		 Total
2024
£
143,500
57,480
16,422
8,215
825
300
226,742

Page 21

Docusign Envelope ID: 0711FADC-76F8-41D2-B711-18F4824864EE

THE CONGREGATIONAL MEMORIAL HALL TRUST (1978) LIMITED (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

8. Analysis of expenditure on charitable activities (continued)

Summary by fund type (continued)

Library running costs
Friends of Congregational Library
United Reformed Church - Maintenance of ministry
Congregational Federation - Church and ministerial support and ministerial
training
Evangelical Fellowsip of Congregational Churches - Church and ministrerial
support, training, conferences, publications and pastoral care
Unaffiliated Congregational Churches Charities
Trinity Congregational Church
Total 2023		 Unrestricted
funds
2023
£
125,769
942
114,960
32,845
16,425
1,645
1,000
293,586		 Total
2023
£
125,769
942
114,960
32,845
16,425
1,645
1,000
293,586

9. Analysis of expenditure by activities

Library running costs
United Reformed Church - Maintenance of
ministry
Congregational Federation - Church and
ministerial support and ministerial training
Evangelical Fellowship of Congregational
Churches - Church and ministerial support,
training, conferences, publications and
pastoral care
Unaffiliated Congregational Churches
Charities
Book Grant
Total 2024		 Activities
undertaken
directly
2024
£
82,686
-
-
-
-
-
82,686		 Grant
funding of
activities
2024
£
-
57,480
16,422
8,215
825
300
83,242		 Support
costs
2024
£
60,814
-
-
-
-
-
60,814		 Total
funds
2024
£
143,500
57,480
16,422
8,215
825
300
226,742

Page 22

Docusign Envelope ID: 0711FADC-76F8-41D2-B711-18F4824864EE

THE CONGREGATIONAL MEMORIAL HALL TRUST (1978) LIMITED (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

9. Analysis of expenditure by activities (continued)

Library running costs
Friends of Congregational Library
United Reformed Church - Maintenance of
ministry
Congregational Federation - Church and
ministerial support and ministerial training
Evangelical Fellowsip of Congregational
Churches - Church and ministrerial support,
training, conferences, publications and
pastoral care
Unaffiliated Congregational Churches
Charities
Trinity Congregational Church
Total 2023		 Activities
undertaken
directly
2023
£
68,141
942
-
-
-
-
-
69,083		 Grant
funding of
activities
2023
£
-
-
114,960
32,845
16,425
1,645
1,000
166,875		 Support
costs
2023
£
57,628
-
-
-
-
-
-
57,628		 Total
funds
2023
£
125,769
942
114,960
32,845
16,425
1,645
1,000
293,586

Page 23

Docusign Envelope ID: 0711FADC-76F8-41D2-B711-18F4824864EE

THE CONGREGATIONAL MEMORIAL HALL TRUST (1978) LIMITED (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

9. Analysis of expenditure by activities (continued)

Analysis of direct costs

Staff costs (governance)
Rent
Insurance- portraits and books
Congregational Lecture expenses
Depreciation and loss on disposal
Computer costs
Commitee expenses
Subscriptions
Portraits and book conservation
Library Operating costs
Bank charges
Auditors' remuneration - audit (governance)
Committee expenses (governance)
Miscellaneous (governance)
Indemnity insurance (governance)
Secretary and clerk's expenses (governance)		 Library
running
costs
2024
£
6,612
15,000
4,017
511
6,688
2,648
673
108
4,821
31,379
35
5,000
945
63
1,596
2,590
82,686		 Friends of
Congregatio
nal Library
2024
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-		 Total
funds
2024
£
6,612
15,000
4,017
511
6,688
2,648
673
108
4,821
31,379
35
5,000
945
63
1,596
2,590
82,686		 Total
funds
2023
£
6,138
-
2,729
964
3,613
2,350
1,903
194
8,090
34,110
47
4,800
1,376
195
1,329
1,245
69,083

Analysis of support costs

Library
running Total Total
costs funds funds
2024 2024 2023
£ £ £
Staff costs 60,814 60,814 57,628

Page 24

Docusign Envelope ID: 0711FADC-76F8-41D2-B711-18F4824864EE

THE CONGREGATIONAL MEMORIAL HALL TRUST (1978) LIMITED (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

10. Staff costs

Salaries and wages
Social security costs
Contributions to employee's personal pension plan		 2024
£
67,187
(3,793)
4,032
67,426		 2023
£
55,295
4,831
3,641
63,767

The average number of persons employed by the company during the year was as follows:

2024 2023
No. No.
3.00 3.00

No employee received remuneration amounting to more than £60,000 in either year.

11. Council members' remuneration and expenses

During the year, other than as set out below, no council members received any remuneration or other benefits (2023 - £NIL).

It is the practice of the Trust to make occasional grants to support the preparation and publication of books about Congregationalist history or theology by those in the Congregationalist tradition. During the year Rev. T. Brand, a council member, applied for a grant towards the costs of preparing a theological work. This application was considered in accordance with the Trust's normal procedures. The Council considered that the production of this work would further the objects of the Trust, and accordingly a grant of £300 was made. Rev. Brand took no part in the consideration or decision regarding this grant.

During the year ended 31 December 2024, travel and meeting expenses totalling £2,709 were reimbursed to 10 council members (2023 - £1,700 to 7 council members).

Page 25

Docusign Envelope ID: 0711FADC-76F8-41D2-B711-18F4824864EE

THE CONGREGATIONAL MEMORIAL HALL TRUST (1978) LIMITED (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

12. Tangible fixed assets

Cost
At 1 January 2024
Additions
At 31 December 2024
Depreciation
At 1 January 2024
Charge for the year
At 31 December 2024
Net book value
At 31 December 2024
At 31 December 2023		 Furniture &
Equipment
£
18,107
43,133
61,240
16,652
6,688
23,340
37,900
1,455

Page 26

Docusign Envelope ID: 0711FADC-76F8-41D2-B711-18F4824864EE

THE CONGREGATIONAL MEMORIAL HALL TRUST (1978) LIMITED (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

13. Heritage assets

Assets recognised at cost

Heritage
assets
£
At 1 January 2024 and 31 December 2024 7,721

Heritage assets comprise manuscripts, library books, chairs, portraits and a bust. During 2011 a desktop review of the value of the library collection was carried out for insurance purposes, and in November 2021 a valuation for insurance purposes was undertaken of the portraits and bust.

Based on the review and valuation, the heritage assets have been valued by the council members at 31 December 2024 as follows:

Library collection - £1,798,000

Portraits and bust - £190,750

Until April 2022, the preservation, management, records of and access to the library collection was undertaken by the staff of Dr. Williams's Library at 14 Gordon Square, London, WC1H 0AG. Since then the Congregational Library has taken direct control of its collections which remain in storage with limited public access.

In April 2024, an agreement was reached with Westminster College, Cambridge which will see The Congregational Library relocated to and working out of, The College.

The council members have no plans to acquire or dispose of any heritage assets.

Page 27

Docusign Envelope ID: 0711FADC-76F8-41D2-B711-18F4824864EE

THE CONGREGATIONAL MEMORIAL HALL TRUST (1978) LIMITED (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

14.
Fixed asset investment
Cost or valuation
At 1 January 2024
Revaluations
At 31 December 2024
Net book value
At 31 December 2024
At 31 December 2023
Material investment		 Listed
investment
£
10,618,593
291,394
10,909,987
10,909,987
10,618,593

The investment comprises 3,527,771.88 (2023 - the same) income units in the CCLA COIF Charities Ethical Investment Fund.

The historical cost of the investment is £6,313,691 (2023 - the same).

15. Debtors

2024 2023
£ £
Due within one year
Prepayments and accrued income 4,522 3,981

Page 28

Docusign Envelope ID: 0711FADC-76F8-41D2-B711-18F4824864EE

THE CONGREGATIONAL MEMORIAL HALL TRUST (1978) LIMITED (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

16. Creditors: amounts falling due within one year

Other taxation and social security
Other creditors
Accruals		 2024
£
2,956
999
7,040
10,995		 2023
£
2,928
622
8,263
11,813

17. Financial instruments

Financial assets
Financial assets measured at fair value through income and expenditure
Financial asset measured at amortised cost
Financial liabilities
Financial liabilities measured at amortised cost		 2024
£
11,232,508
1,587
11,234,095
2024
£
9,262		 2023
£
10,878,524
1,046
10,879,570
2023
£
8,885

Financial assets measured at fair value through income and expenditure comprise listed investments and cash at bank.

The financial asset measured at amortised cost relates to other debtors.

Financial liabilities measured at amortised cost comprise other creditors and accruals.

Page 29

Docusign Envelope ID: 0711FADC-76F8-41D2-B711-18F4824864EE

THE CONGREGATIONAL MEMORIAL HALL TRUST (1978) LIMITED (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

18. Statement of funds

Statement of funds - current year

Unrestricted
funds
Designated
funds
Friends of
Congregational
Library
Library Fund
General Funds
Total
unrestricted
funds
Endowment
Fund
Total of funds		 Balance at 1
January
2024
£
6,336
-
6,336
10,865,811
10,872,147
7,721
10,879,868		 Income
£
726
-
726
326,410
327,136
-
327,136		 Expenditure
£
(320)
(50,189)
(50,509)
(176,233)
(226,742)
-
(226,742)		 Transfers
in/out
£
-
50,189
50,189
(50,189)
-
-
-		 Gains/
(Losses)
£
-
-
-
291,394
291,394
-
291,394		 Balance at
31
December
2024
£
6,742
-
6,742
11,257,193
11,263,935
7,721
11,271,656

Page 30

Docusign Envelope ID: 0711FADC-76F8-41D2-B711-18F4824864EE

THE CONGREGATIONAL MEMORIAL HALL TRUST (1978) LIMITED (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

18. Statement of funds (continued)

Statement of funds - prior year

Unrestricted
funds
Designated
funds
Friends of
Congregational
Library
Library Fund
General Funds
Total
unrestricted
funds
Endowment
Fund
Total of funds		 Balance at
1 January
2023
£
6,826
-
6,826
9,891,285
9,898,111
7,721
9,905,832		 Income
£
452
-
452
317,493
317,945
-
317,945		 Expenditure
£
(942)
(52,868)
(53,810)
(239,776)
(293,586)
-
(293,586)		 Transfers
in/out
£
-
52,868
52,868
(52,868)
-
-
-		 Gains/
(Losses)
£
-
-
-
949,677
949,677
-
949,677		 Balance at
31
December
2023
£
6,336
-
6,336
10,865,811
10,872,147
7,721
10,879,868

Page 31

Docusign Envelope ID: 0711FADC-76F8-41D2-B711-18F4824864EE

THE CONGREGATIONAL MEMORIAL HALL TRUST (1978) LIMITED (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

18. Statement of funds (continued)

The designated Friends of Congregational Library fund represents the financial activities of members supporting the work of the library and the publication of a biannual newsletter.

The designated Library fund represents the net costs of maintaining and managing the library. The transfer from the general fund to the library fund was made in order to meet the excess expenditure charged to the library fund during the year.

The general fund represents the charitable company's free reserves, after allowing for designated funds.

The endowment fund is represented by heritage assets which have not generated any income.

Page 32

Docusign Envelope ID: 0711FADC-76F8-41D2-B711-18F4824864EE

THE CONGREGATIONAL MEMORIAL HALL TRUST (1978) LIMITED (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

19. Summary of funds

Summary of funds - current year

Designated
funds
General funds
Endowment
funds		 Balance at 1
January
2024
£
6,336
10,865,811
7,721
10,879,868		 Income
£
726
326,410
-
327,136
Income
£
452
317,493
-
317,945		 Expenditure
£
(50,509)
(176,233)
-
(226,742)
Expenditure
£
(53,810)
(239,776)
-
(293,586)		 Transfers
in/out
£
50,189
(50,189)
-
-
Transfers
in/out
£
52,868
(52,868)
-
-		 Gains/
(Losses)
£
-
291,394
-
291,394
Gains/
(Losses)
£
-
949,677
-
949,677		 Balance at
31
December
2024
£
6,742
11,257,193
7,721
11,271,656
Balance at
31
December
2023
£
6,336
10,865,811
7,721
Summary of funds - prior year
Designated
funds
General funds
Endowment
funds		 Balance at
1 January
2023
£
6,826
9,891,285
7,721
9,905,832
10,879,868

Page 33

Docusign Envelope ID: 0711FADC-76F8-41D2-B711-18F4824864EE

THE CONGREGATIONAL MEMORIAL HALL TRUST (1978) LIMITED (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

20. Analysis of net assets between funds

Analysis of net assets between funds - current period

Unrestricted
funds
2024
£
Tangible fixed assets
37,900
Fixed asset investments
10,909,987
Heritage assets
-
Current assets
327,043
Creditors due within one year
(10,995)
Total
11,263,935		 Endowment
fund
2024
£
-
-
7,721
-
-
7,721		 Total
funds
2024
£
37,900
10,909,987
7,721
327,043
(10,995)
11,271,656

Analysis of net assets between funds - prior period

Tangible fixed assets
Fixed asset investments
Heritage assets
Current assets
Creditors due within one year
Total		 Unrestricted
funds
2023
£
1,455
10,618,593
-
263,912
(11,813)
10,872,147		 Endowment
fund
2023
£
-
-
7,721
-
-
7,721		 Total
funds
2023
£
1,455
10,618,593
7,721
263,912
(11,813)
10,879,868

21. Pension commitments

During the year, the company made payments to defined contribution pension schemes on behalf of 1 (2023 - 1) employee. The pension cost charge represents contributions paid by the company to the scheme and amounted to £4,032 (2023 - £3,641). Contributions totalling £999 (2023 - £622) were payable to the fund at the balance sheet date and are included in creditors.

Page 34

Docusign Envelope ID: 0711FADC-76F8-41D2-B711-18F4824864EE

THE CONGREGATIONAL MEMORIAL HALL TRUST (1978) LIMITED (A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

22. Related party transactions

During the year, a grant of £300 was made to Rev. T. Brand, a Trustee. Refer to Note 11 for further details.

There were no other related party transactions in the year.

23. Controlling party

The council members are the ultimate controlling party of the Trust.

Page 35