Charity no. 280238
Society of St Francis Central Fund
Report and Financial Statements
31 March 2025
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Society of St Francis Central Fund
Reference and administrative details
For the year ended 31 March 2025
Charity number
280238
Registered office
CIO USPG
5 Trinity Street
Londo
SEI IDB
Trustees
The Trustee5 are appointed bythe Trustees at a meeting of the Trustees. Those
who have served during the year and since the year end are shown below=_
Mr Leslie Johnson (Chair until 10 June 20241
Ms Jane Gillbe (Chairfrom IOJune 20241
Mr Michael Hart
The Rt Reverend Robert LeRoy Fitzpatrick
The Rt Reverend Christopher Chessun
The Rev'd Pat Mossop
Mr Kenneth Norian (appointed on 16 June 20251
Bankers
Lloyds Bank PIC
PO Box l(J)O
Andover
BXI ILT
Independent
Examiner
KnoxCropperLLP
Chartered accountants and statutory auditors
65 Leadenhall Street
London EC3A 2AD
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Society of St Francis Central Fund
Report of the trustees
For the year ended 31 March 2025
Reference and administrative information set out on page I forms part of thi5 rewrt. The financial
statements have been prepared on the accounting policies set out in note I to the financial statements
and comply with the charity's trust deed. applicable law. and the requirements of the Statement of
Recommended Practice, Accounting and Reporting by Charities leffective January 20191.
GOVERNANCE ANDSTRUCTURE
The Society of St Franci5 Central Fund is a charitable trust which was established under a trust deed
dated 31 March 1980, u￿￿èted by a supplemental deed dated 16 June 2025. Its registered charity
number is 280238.
The trustees meet at least twice a year to agree on the broad strategy and areas of 3Ctivity for the
Central Fund and review reports. The trustees consider investment, reserves and risk management
policies and performance. The day to day operation of the Fund is delegated to the Secretary to the
Trustees.
The Board keeps the skill requirements for the Trustee Body under review. In the event that a trustee
permanently retires or additional new trustees are required. the Board considers potetbtial new
trustees. Existing trustees are encouraged to put forward nominee5.
The induction process for any newly-aptK)inted trustee comprises an initial meeting with the Board.
New Trustees are briefed on the powers and responsibilities of the trustee board. They are given a brief
history of the Society, previous years, account5 eto
OBJEcfivES AND ACTIVITIES (including Grant Making Policy)
The objerts of the charity, as set out in itsTrust Deed are:.
"To or towards such charitable purposes at such time or times and in such manner a5 the Trustees
may in their ab501ute discretion think fit and in particular, but without prejudi￿, to the generality
of the foregoing to further the charitable work of the Society of St Franci&"
The Fund now operates in three distinctways.
First by the General Fund which defrays the costs of the central administration of the Society of St
Francis, including the expenses of the Ministers General and General Secretaries of the First Order, and
the triennial Ministers. Meeting. The income from the holdings in the CBF Investment Fund and Fixed
Interest Fund are used for this purpose.
The second purpose of the Central Fund is met by the Development Fund. Each year the Trustees,
acting on the advice of the Ministers, make grants to support the work of the Society of St Francis
throughout the world and also the triennial Chapters of the First Order. The level of grants is
determined by the income into the Development Fund, which largely comes from the provinces of the
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Society of St Francis Central Fund
Report of the trustees
For the year ended 31 March 2025
Societyof St Francis around the world and anysurplus from the General Fund.
The third purpose concerns funds transferred from the Brothers of the First Order. European Province
from legacies received. These were received without restriction5 but have been designated by the
Trustees for the use and benefit of the Society of St Francis European Province for the repair, upkeep
and maintenance of its fixed assets. the cost of any major capital works throughout the world,
responding appropriately to major world disasters. meeting the costs of brothers and sisters in other
provinces through the Development Fund and particularly, in view of the age profile of the Society, to
provide the long term support of elderly First Order brothers and sisters.
The Fund also maintains the Peter Searle Memorial Fund for ecumenical work and both current and
investment accounts for EK)th Papua New Guinea and Solomon Islands for the long term benefit of the
brothers of those Provinces.
ACHIEVEMENTSAND PERFORMANCE
This year the Ministers recommended tothe Trustees grants totalling £134.032 payable from all funds.
During the year £8,694 grant was also written back from the Development fund. With further grants
approved from other designated and restricted funds. the total grants payable in the year was
£125,058. The details of the grants paid during this year are set out in the notes to the Accounts. The
level of grants is determined by the income into the Fund. which come from autonomous provinces
around the world.
FINANCIAL REVIEW
For the year ended 31 March 2025 incoming resources were £155k 12024- £170kl and resources
expended were £156k 12024- £76kl, resulting in a deficit for the year of £lk12024.. surplus £94kl.
During the year loss on investment revaluation was £125k12024.' gain £235kl. Total funds at 31 March
2025 were £3,124k 12024.. £3,250kl, of which £170k is held in restricted funds with £1,577k in
unrestricted reserves and £1,377k as designated reseryes.
Going Concern Statement
The Trustees consider that the charity is likely to continue as a going concern for a period of at least 12
months from the date of which the financial ststements are approved for the following reasons-
SSF holds unrestricted reserves of £1.577k.
SSF holds designated reserves of £1.377k ringfenced
SSF ha5 a cash balance of £32k (As at 31 March 20251
The Trustees therefore consider it appropriate to adopt the going concern basis for the preparation of
the accounts as detailed in note Ib to the financial statements.
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Society of St Francis Central Fund
Report of the trustees
For the year ended 31 March 2025
Investment powers, performance and policy
Under the Trust deed dated 31 March 1986. the Trustees have full and unrestricted powers of
investment in respect of all the funds they hold. They have split the fund between the CBF Investment,
Fixed Interest and Property Funds which enables them with the avoidance of undue risk to enhance the
capital of the funds and provide an income commensurate with the needs of the Fund. The performance
of the CBF Investment Fund was slightly below the benchmark against which it is measured, but both
the Fixed Interest and Property Funds outperfonned their
Reserves policy
The Fund currently holds unrestrirted reserves of £2,954k of which £1,377k represents the
Designated Funds. The free reserves of £1,577k are invested to produce sufficient income to defray the
day to day costs of the Society and help finance the ongoing payments of grants through the
Development Fund. The policy of the Fund is therefore to=
spend the income arising in each year on grants to support the work of the Society of Saint
Francis and day to day running costs of the Society.
maintain the value of the invested capital to ensure the Society can continue to fulfil its
objectives in the future.
The reserves policy of the Fund is reviewed on a regular basis by the Trustees.
PUBLIC BENEFIT STATEMENT
The Trustees confirm that they have complied with the duty in section 4 of the Charities Act 2011 to
have due regard to the Charity Commission's general guidance on public benefit and publication by
Charity Commission'charities and Public Benefit"
The Society's charitable wlicy is set out under Objertives 3nd Artivities. Benefits are in the form of
grants and approximately 90% of the society's annual expenditure relates to grant payments. These
grants are largely made to the provinces of the Society of St Francis throughout the world and
associated institutions for the development of their communities and those whom they serve.
PLANS FOR FUTURE PERIODS
The Fund's objectives and activitie5 for next year and future years will be similar to this year. The level
of grants to be approved and paid will again be guided by the income of the Fund.
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Society of St Francis Central Fund
Report of the trustees
For the year ended 31 March 2025
STATEMENT OF RESPONSIBILITIES OF THETRUSTEES
The trustees are resrM)nsible for preparing the trustees, report and the financial statements in
accordance with 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).
The law applicable to charities in England and Wales requires the trustees to prepare financial
statements for each financial year. which give a true and fair view of the state of affairs of the charity
and the incoming resources and application of re￿urces. including the net income or expenditure, of
the charity for the year. In preparing those financial statements the trustees are required to-
Q select suitable accounting policies and then apply them consistently.,
Q observe the methods and principles in the Charities SORP..
Q makejudgements and accounting estimates that are reasonable and prudent-
state whether applicable accounting 5tandard5 and statements of recommended practice have
been followed, subject to any material departures disclosed and explained in the financial
statement5', and
Q prepare the financial statements on the going concern basis unless it is inappropriate to
presume that the charitywill continue in operation.
The trustees are responsible for keeping proper accounting records which disclose with reasonable
accuracy at any time the financial ￿sItIon of the charity and which enable them to ensure that the
financial statements comply with the Charities Act 2011. the Charity (Accounts and Reports)
Regulations 2008 and the provisions of the constitution. The trustees are also responsible for
safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and
detertion of fraud and other irregularities.
Independent examiner
Knox Cropper LLP were re-appointed as independent examiners to the charity during the year and have
expressed their willingness to continue in that capacity.
Approved by the trustees on 20 October 2025 and signed on their ￿half by
Jane Gillbe- Trustee and Chair
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Independent Examiner's report to the trustees of
Society of St Francis Central Fund
Independent examiner's rewrt to the trustees of Society of St Francis Central Fund
I report to the charity trustees on my examination of the accounts of Society of St Francis Central Fund
for the year ended 31 March 2025, which comprise the Statement of Financial Activitie5. the Balance
Sheet and the related notes.
This report is made to the Trustees as a body in accordance with the terms of myengagement. My work
has been undertaken so that I might carry out an Independent Examination of the financial statements
in accordance with the General Directions given by the Charity Commissioners. To the fullest extend
permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the
Charity's Trustees as a body for my work or for this report.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in
accordance with the requirements of the Charities Act 20111.the Act'l. The Charity's Trustees consider
that an audit is not required for thi5 year lunder Section 144121 of the Charities Act 20111 and that an
Independent Examination is required.
I report in respect of my examination of the Fund's accounts carried out under Section 145 of the Act
and in carrying out my examination I have followed all applicable Directions given by the Charity
Commission under Section 14515llbl of the Act
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in
connection with the examination giving me cause to believe that in any material respect:
accounting records were not kept in respect of the Fund as required by Section 130 of
the Act- or
the accounts do not accord with those records., or
3. the accounts do not comply with the applicable requirements concerning the form and
content of accounts set out in the Charities (Accounts and Reports) Regulations 2008
other than any requirement that the accounts give a true and fair view which is not a
matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which
attention should be drawn in this report in order to enable a proper understanding of the accounts to be
reached.
Richard Billinghurst
Knoxcropper LLP
Chartered Accountants
65 Le3denhall Street
London
EC3A 2AD
11 November 2025
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Society of St Francis Central Fund
Statement of financial activities
For the year ended 31 March 2025
Unrestricted Unrestricted
Funds-
Funds-
General Designated
Restricted Total Funds Total Funds
Funds
2025
2024
Notes
Incomefrom:
Donations
Investments income
47,391
43,970
47,391
107,712
65,921
103,646
58.863
4,879
Totsl Income
58.863
91.361
4.879
155.103
169.567
Expenditure on=
Charitable activities
30,376
114.140
11.1
155,616
76.191
Total Expenditure
30,376
114,140
11,1
155,616
76,191
GainllLossl on investment
162.5911
154.4371
17.8431 1124,8711
235.157
Net Income/lexpenditurel
134.1041
1772161
114.0641 1125.3841
328.533
Transfer between funds
128.4961
28.496
Net Movement in funds
162.6(K)I
148.7201
114.0641 1125,3841
328,533
Reconciliation of fvnds=
Funds brought forward
1,639,730
1.425.972
183.975 3,249,677 2.921.144
Funds carried foNard
1,577,130
1.377,252
169,911 3,124,293 3,249,677
All of the above results are derived from continuing activities.There were no other recognised gains or
losses other than those stated atove. Movements in funds are disclosed in Note 9 to the accounts
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Society of St Francis Central Fund
Statement of financial activities
For the year ended 31 March 2025
Unrestricted Unrestricted
Funds-
Funds-
General Designated
PrioryearSOFA
Comparison
Restricted Total Funds Total Funds
Funds
2024
2023
Incomefrom:
Donations
Investments income
65,921
40.699
65,921
103,646
42.895
96,096
58,111
4.836
Total Income
58.111
106.620
4.836
169.567
138.991
Expenditure on=
Charitable 3Ctivities
35.￿6
39,874
1,311
76,191
100.939
Totsl Expenditure
35,CK
39.874
1,311
76,191
100,939
Gain/lLossl on investment
105.875
114.178
15,104
235,157 1146.4531
Net Incomellexpenditurel
128.980
180.924
18.629
328.533 1108,4011
Transfer between fvnds
123,1041
23,104
Net Movement in fvnds
105,876
204,028
18,629
328,533 1108,4011
Reconciliation of funds=
Funds brought ft>rward
1.533.854
1,221,945
165,345 2,921,144 3,029,545
Funds carried forward
1.639.730
1.425.973
183.974 3.249.677 2,921.144
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Society of St Francis Central Fund
Balance sheet
As at 31 March 2025
2025
2024
Notes
INVESTMENTS
Investment Fund
Property Fund
Global Equity Fund
Deposlt Fund
2458.274
303,729
237,569
307,317
2,568,910
304,029
251,504
339,662
Total investments
3.306.888
3,464,105
CURRENT ASSErs
Debtors
Cash at bank and in hand:
32,438
15,260
Total current assets
32.538
15,260
CREDITORS.. amounts falling duewithin
one year
1215,1331
1229,6881
NETCURRENT ASSErs
1182,5951
1214.4281
NET ASSETSTOTALS
3.124.293
3,249,677
THE FUNDSOFTHECHARITY
Restricted fund5
169.911
183,975
Unrestricted funds
General Fund
Designated Fund
1,577,130
L377.252
1,639,730
1,425,972
TOTAL CHARITY FUNDS
3.124.293
3.249.677
Approved by the trustees on 20 October 2025 and signed on their t￿half by.,
Jane Gillbe- Trustee and Chair
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Society of St Francis Central Fund
Notes to the financial statements
For the year ended 31 March 2025
l. Accounting policies
al Basis of preparation
The financial statements have been prepared in accordance with Accounting and Reporting by
Charities.. Statement of Recommended Practice applicable to charities in preparing their accounts in
accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS
1021 (effective l January 20191- (Charities SORP IFRS 10211, the Financial Reporting Standard
applicable in the UK and Republic of Ireland IFRS 1021.
The Society meets the definition of a public benefit entity under FRS 102. Assets and liabilities are
initially recognised at historical cost or transaction value unles5 Otherwise Stated in the relevant
accounting policy notes.
The charity has taken advantage of the FRS 102 reduced disclosure exemptions in preparing these
financial statements and a Statement of Cash Flow has not been prepared.
bl Going concern basis of accounting
The accounts have been prepared on the assumption that the charity is able to continue as a going
concern, which the trustees consider appropriate having regard to the current level of unrestricted
reserves. There are no material uncertainties about the charity's ability to continue as a going concern.
cl Donation and investment Income
Donations are included in the accounts when received or when the kniety becomes legally entitled to
them. Investment income is included in the account when due.
dl Expenditure
Charitable expenditure comprisesthose costs incurred bythe charity in the delivery of its activities and
services for its beneficiaries. It includes both costs that can be direttly allocated to such activities
together with an allocation of supwrt costs.
Grants are included in the accountswhen approved by theTrustees and notified to the beneficiaries.
Governance costs comprise expenditure on trust administration. management and compliance with
constitutional and statutory requirements.
el Funds accounting
Unrestricted funds are available to spend on artivities that further any of the purposes of the charity.
Designated funds are unrestricted funds of the charity which the trustees have decided at their
discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has
specified are to be solely used for particular areas of the charity's work or for specific projects being
undertaken by the charity.
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Society of St Francis Central Fund
Notes to the financial statements
For the year ended 31 March 2025
f) Financial instruments
Investments
Investments are stated at fair value. Gains or losses on investments are disclosed in the Statement of
Financial Artivities showing separately realized gains from investment sales in the year1$3le proceeds
less market valve last yearl and unrealised gains arising from the increase in value during the year of
investments still held.
Cosh and cash equivalents
Cash and cash equivalents include cash in hand. deposits held at banks. other short-term highly liquid
investments with original maturities of three months or le￿ and bank overdrafts. Bank overdrafts.
when applicable, are shown within current liabilities.
Debtors and creditors
Debtors and creditors are measured at the transaction price less any provision for impairment. Any
losses arising from impairment are recognised as expenditure.
g) Peter Searle Fund
The purpose of this Fund is to assist First Order members with the costs of travelling and other costs for
participation in ecumenical ventures.The capital of thefund can also be used for this purpose with the
permission of the First Order Ministers.
Unrestricte Unrestricted
d Funds-
Funds-
General Designated
Total
Funds
2025
Total
Funds
2024
Restricted
Funds
2 Total Income
Donations
47.391
43.970
47,391 65,921
4.879 107,712 103,646
Investment Income
58,863
Total Income
58.863
91.361
4,879 155,103 169,567
2024 analy515
5&111
106.620
4.836 169,567
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Society of St Francis Central Fund
Notes to the financial statements
For the year ended 31 March 2025
3 Total expenditure
Governan
ce costs
2025
Total
2024
Totsl
Mission costs
Grants payable less written back
Supportcosts
Ministers, and First Order Chapters,
meeting
125.058
125,058 40,471
43
Minister General SSF & CSF expen
21.457
21,457 24,521
Office cost
Governance costs
Independent Examinersfee
4.754
4,754
7,257
4,347
4,347
3,900
Total expenditure
151.269
4,347 155.615 76,191
2024 analysis
72.292
76,191
Expenditure analysis by funds
Unrestrict Unrestricted
ed Funds-
Funds-
General Designated
Total
Funds
2025
Total
Funds
2024
Restricted
Funds
Grants payable
Supportcosts
Ministers. and First Order Chapters.
meeting
Minister General SSF & CSF expenses
Office costs
Governance costs
Independent Examinersfee
113.993
11.065 125,058 40,471
43
2L457
4.572
21.457 24,521
4,754
7,256
147
35
4.347
4,347
3,900
Total expenditure
30.376
114.140
11,IW 155,616 76,191
2024 analysis
35,￿)6
39,874
1,311
76,191
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Society of St Francis Central Fund
Notes to the financial statements
For the year ended 31 March 2025
4 INVESTMENTS
2025
2024
Market value at l April 2024
Acquisitions
Sales Proceeds
Ilossl/Gain on revaluation
3.124.443
2,889,287
1124,8711
235,156
Market value at 31 March 2025
2.999.572
3.124.443
Cash on deposit
307,317
339,662
3.306,888
3.464.105
The investments are held in common investmentfunds with the Central Board of Finance of the Church
of England. The values of fixed units are calculated by reference to investment5 Quoted on a recogni5ed
stock exchange.
2025
2025
Cost Market Value
2024
2024
Cost MarketV3lLJe
Units
Investment Fund
110.394
250,209
78.107
905,776
325,(JX)
i(X),¢JX)
312,561
1.643,337
2.458.274
303.729
237,569
307,317
3.306.888
905,776
325.000
loo,000
312,561
1,643,337
2,568,910
304,029
251,504
339,662
3,464,105
Property Fund
Global Equity Fund
DeFK)Sit Fund
5 Debtors
2025
2024
Other creditors
100
100
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Society of St Francis Central Fund
Notes to the financial statements
For the year ended 31 March 2025
6 Creditors: amountsfalling
2025
2024
Grants payable (note 6a)
Accruals
Creditors
206,575 194,575
4,347
6.615
4,213
28.498
215,135 229.688
6a Grant payable movement
Atol
Apr 2024
Approve
Paid
d during
during
the year the year
Written
back
during
the year
Balance
at 31 Mar
2025
Development Funds
1st Order ChapterAnnual provision
Inter Provincial Travel
Franciscans International
Fl travel for SSF Board Member
Papua NewGuinea Province PNG
Province of the Solomon Islands
Cameroon
12.0
8,OCK)
5.ow 15.(MX)I
2.0￿ 11.3061
15,382 115,3821
19.91K) 119.9(X)I
8.ow 18.(K￿l
70,282 149,5881 18,6941
12.000
18,OCK)I
16941
Subtotal Development funds
12,000
Pacific Islands Fund
194.575
194.575
Legacy Fund
53.965 153.9651
Peter Searle Fund
11.065 111.0651
194.575 135,312 1114.6181 18,6941 206.575
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Society of St Francis Central Fund
Notes to the financial statements
For the year ended 31 March 2025
7 Staff costs and numbers
The charity does not employ any staff members. No employee received remuneration amounting to
more than £60,(￿ in eitheryear.
The key management personnel of the charity comprise the Trustees. The total employee benefits of
the key management personnel were £nil12024= £nill.
8 Trustees remunerations
No trustee received any remuneration from the charity during the year12025.. Nill. No trustee
received a reimbursement of expenses £ Nil12024=Nill.
9 Statement of funds
Balance at
OIApr
2024 Income
Transfer
Balan
Gain/ betwee at31 Mar
(Losse51 n funds
2025
Expenditu
re
2025 analysis
UNRESTRICTED FUND
General funds
1.639.730
58.863 130,3761 162,5911128,4961 1,577,130
Designated fvnds
Development Fund
Legacies Fund
Papua New Guinea Fund
Solomon Islands Fund
434.LNXI
661.352
178.121
152,499
1.425.972
47.391 {53.3061
28,496 456,581
34,365 {54,0971 138,2231
603,397
5,922
13.6171 18,1151
172,311
3.683
13.1201 18,0991
144,963
91.361 1114.1401 154.4371 28,496 1,377,252
Total Unrestricted funds
3,065,702 150,224 1144,5161 1117,0281
2,954,382
RESTRICTED FUND
Peter Searle
183.975
4.879 111.1001 17.8431
169.911
Total of funds
3,249,677 155,103 1155,6161 1124,8711
3,124,293
Acting on the advice of the SSF Ministers Meeting who meet normally Iwice per annum, grants are
made to support the work of the Society of St Franci5 throughoutthe world.
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Society of St Francis Central Fund
Notes to the financial statements
For the year ended 31 March 2025
These funds were received without restrictions but the capital and the income earned have been
designated by the Trustees for the use and benefits of the Society of St Francis European Province for
the repair, upkeep and rnaintenance of its fixed assets. the cost of any major capital works throughout
the world, responding appropriately to majorworld disasters. meeting the costs of brother5 and sisters
in other provinces through the Development Fund and particularly, in view of the age profile of the
Society, to provide the long term support of elderly First Order brothers and sisters.
These funds are for the running of both Provinces. The income from the invested capital 15 to be split
between the provinces, paid annually and directly to the two provinces at the request of the Minister
General SSF.
Transfer Balance at
Gain/ between
31 Mar
(Losses)
funds
2024
Balance at
01 Apr 2023
Expenditur
Prioryear 2024 analysis
Income
UNRESTRICTED FUND
General funds
1,533,854
58.111
135,(X)61 105,875 123.1041 1,639.730
Designated funds
Developmenl Fund
Legacies Fund
Papua New Guinea Fund
Solomon Islands Fund
355.148
579.197
287.6LK)
48.921
6.827
23,104 434,CKJO
47.960 137,3411
71,536
661,352
6.188
16.2261
23.868 1133,3091 178.121
3,551
(3.1351
18,774 133,309
152,499
1.221.945 106.620 139,8751 114.178
23,104 1,425,972
Total Unrestricted funds
2,755,799 164,731 174,8811 220,053
3,065,702
RESTRICTED FUND
Peter Searle
165.345
4.836
11.3101
15.104
183,975
Totsl of funds
2,921,144 169,567 176,1911 235,157
3,249,677
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Society of St Francis Central Fund
Notes to the financial statements
For the year ended 31 March 2025
10 Analysisof net assets between funds
Unrestricted Unrestricted
Funds-
Funds-
General
Designated
Restrirted Total Funds
Funds
2025
Investments
1.719,954
36,895
1179.7191
1.412.666
174,268
14,3571
3,306,888
32,538
1215,1331
Current assets
Current liabilities
135,4141
Net assets at 31 March 2025
1.577.130
1.377.252
169,911 3.124,293
Unrestricted Unrestricted
Funds-
Funds-
General
Designated
Restricted Total Funds
Funds
2024
Investments
1.798,860
13.396
1172,5261
1.483.134
182,111
1,864
3,464,105
15,260
1229,6881
Current assets
Current liabilities
157.1621
Net assets at 31 March 2024
1,639,730
1,425.972
183,975 3,249,677
11 Taxation
The charity is exempt from COr￿)rAtion tax as all its income is charitable and is applied for charitable
purposes.
12. Related party transartions
There were no related partytransactions during the current or prior reporting period.
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Doc ID.. 76bad3dofe308fOa4bc598ef5699172aOe5842e4