REGISTERED COMPANY f4UMBER: I529484 (England and Wales}
REGISTERED CHARITY NUMBER: 282270
Re
ort of the Trustees and
Finan¢i41 StatetNe¥Lt5 For The Year Ended 31 December 2023
The United Reformed Church
Trust Limiied
Limited b Guarantee
Southern
an

The United Reformed Chureh
Southern Svnod
Acom
LiEntted b Guarantee
Trust Limited
Content$ of the Financial Statements
for the Year Endtd 31 December 2023
Page
Report of the Trustees
Ito6
Rep)rt of the Independent Auditors
7t09
Statement of Financial Activities
10
Balance Sheet
11 to 12
Statement of Cath Flows
13
Notes to the Financial sta￿Ments
14to27

The United Reformed Church
Southern S nod
Acom
arr
Limited b Glldrantee
Trust Limited
Re
ort of the Trustees
for the Year Ended 31 December 2023
The trustees who are also directors of the charity tor the purposes of ihe Companies Act 2006, present their report with the
rinan¢ial statetnents of the charity ft>r the year ended 31 December 2023. The trustees have adopt¢d the provisions of the
Siatement of Recommended Practice (SORPI 'Ac¢ounting and Reporting by Charities, effetliv¢ January 2015.
REFERENCE AND ADMINISTRATIVE DETAIiS
Registered Company number
1529484 (England and Wale5)
Registered Charity number
282270
Regi$trred offiee
Synod Office
East Croydon URC
Addis¢ombe Grove
Croydon
CRO 5LP
Tru5tee$
Miss L Austin
Revd B Banks
Mr J Denison
Revd B Fidder
Revd R Fllrley-smith
Mr A Kirby (Chairperson)
Mrs H Miles
Mr D Walters
Cornpany Seeretary
Mrs C Kingdom
Auditors
Thomton Springer LLP
Chart¢red Accountants
Statutory Auditor
07 Westow Street
London
United Kingdom
SE20 3RW
al Representatives
Veal¢ Wasbrough Vizards LLP
Second Floor. 3 Brindleypla
Birniingham
BI 2JB
Ballkers
CAF Bank
25 Kings Hill Avenue, Kings Hill
West Malling, Kent
ME20 4JQ
Page I

The Ullited Reformed Church
SoutherD S nod
Acom
Limited b Guarantee
Trust Lirnited
Re
ort of the Trustees
for the Year Ended 31 December 2023
PRINCIPAL AcfiviTY & PUBLIC BENEFIT
The TTUSt is a ¢ompany limited by guarantee in¢oTporated on 21 November 1980 and is a r¢gistered charity number
282270. On 24 Noyember 2010 the trustees agreed to Ch?￿ge the name of the Trust from The United Refornied Church
(Southern Province) Trusi LiMi￿d to The United Refomied Church (Southern Synod) Trust Limited. This was Certified by
Cotnyanies House on 8 Dec¢m￿r 2010.
Its object is to advance the Christian religion in accordance with the docthne, principles and usages of the United
Reforn)ed Church. particularty in the South of England, for the benefIt of the public. The trust¢e5 have ¥iv¢n due
consideration to at]d follow the Charity Commis5ion'5 published guidan¢¢ on the Public Benefit requirements.
It has achieved this by continuing to act a5 Co]porate Trustee and Agent for the South¢m Synod of The Unit¢d Reformed
Church by holding propertie5 and assets and handling incotne and expenditure.
The Synod was Set up as part of the fomjaiion of the United Refornied Church by the United Refomied Acts 1972 and
1981.The Southem Synod is the representative of the local churches within Southern SJnod united for the putpose of
dealing with matters of wider concem.
One of its main fi￿CtionS is to take action condu¢iv¢ to the propagation of the Gospel at home 8nd abroad, the welfar¢ of
tht United Refom¢d Church, the interests of the Church of Christ as a whole, and the well-being of the community in
which the Church is based.
At the quarterly trustees, meetings. the trustees agree a broad strategy and areas of activity fr>r the Trust, including
onsideratioN of any major grdnt-making. They ensure all activity SUPPOTts rnission and encourag¢ ¢hurch extension and
the establishment of new causes.
The day to day administration of grants the processin¥ of applications prior to consideration by the relevant sub-
committee are delegated to the Trust stsff. The Synod Officers have the dele.
at¢d authority to make decisions on gydnts
and loans if it is noi possible to wait for the next Su1￿coMIn]tt¢e meeting. During 2023 there were 4 Synod Officers,. th¢
Moderator, the Synod Cl¢rk, the Synod Council Convenor and the Synod Treasurer.
New t￿SteeS are sel¢¢ted from within the Synod. They are either Mini5ter5 of Religion or people who have othcrwi5e been
Involv￿ in the life of the Synod. Induction procedures and training are tailored to the previous experience and knowledge
of the new trustee5. As necessary, both new and existing trustees are reminded of their responsibilities end issued with a
opy of th¢ Charity Commission's guide "The Essential Trustee- What you need to know" Training sessions for all
twstees are also arranged where ntte￿ary.
The Tryst also a¢ts as Corporate Trustee for mo* of the Local United Refornied Churches by holding various properties
and investments on their behalf.
STRUCTURQ GOVERNANCE AND MANAGEMENT
Governlng Document
The charity is controlled by its goveming do¢um¢nL a deed of trusL and constiNtes a limited company, limited by
guarantee, as defined by the Companies Act 2006.
R￿k Mmnagemertt
The trnslees are working on a revised risk matrix. including details of the systems and procedures to manage tILose risks.
They have appointed a Small group, of their number, to manage thi5 process and a revised strategy document should be
available for review and approval by the Trustees during 2024.
Page 2

The Unlted Reformcd Chureh
Southern S nod
Acom
Limited bv Guarantee
Trust Lirnited
Re
ort of the Trustees
for the Year Ended 31 DeceMber 2023
OPJEcfivES AND ACTIVITIES
The obje¢ts of the Trust and the Synod are to help and support local ¢hurches in their mission. The mission crit¢ria used
are th¢ Synod..
is committed to looking for new opportunities for being the church in the geographical area of the Synod
is commitEed to supporting and resourcing the local churche5 to be faithfvl followers of Jesus Christ
is tommitted to caring pastordlly for its local churches, ministers and staff
is committed to supporting and resourcing local chur¢hes to provide relevant, inspiring and engaging worship
is committed to being aware of the economic, political and social context of life in South¢m England and will se¢k to
help loc21 churches address the implications of thes¢ issues for their life and work
Is committed to the proper care and administration of its resour¢es through its personnel, finances and buildings
7. is committed to the wider of church of God through the Unit¢d R¢forn)ed Church nationally, ecutnenical relationships
and the world church
is ctsrnmitted to addressing i5su¢s of justice, pea¢e and the environment
is COEntnitted to regularly reviewing its life and mission in light of the above ¢riteria always seeking the prompting and
guidance of the Holy Spirit
The objectives for the year are 5hap¢d by these strategic al￿$ alld the Synod looks io achieve them through partnership
with other Christian institutions, local councils and central government for the benefit of the public.
The TnLSt ¢8n make capital grants to local churches in order to help them make their building5 welcoming and safe for
members of the public and to equip them better to fvlfjl their objectives. This ¢an include support for extending and
improving buildirw to include more community facilities. In 202J, Ihirry grants were made. There are also grants
available to supwn mission projects and the employrnent of youth workers. The budget for 2023 includes £750,000 lor
each panel.
The Trust also makes grants to various church or¥dnisations which operate within our area. We also support mission work
abroad.
Since 2009 the principal decision making body i5 Synod Together which me¢t5 biannually, usually in March and October.
The Synod operated through 5 Synod Area5- London, East Keni West Kent and East Sussex, Surrey and Sussex, and
Centrdl Sussex United Area. Synod Areas Thornially meet 2 or 3 tirnes each year, to deal with pastoral matt¢rs and provide
advice to the Synod on propety and financ¢ matters.
The Trust employs 5 finance. property and support staff, irt the S)nod Office. four of whoTn are fvll time. There are now
fiuther 3 field staff. Training and DevelopTnent Officer. Mission Development Officer and Children and Yollth
Development Officer. We also meet 500/0 of the costs of a safeguarding otTicer employed by a neighboring synod, who
sp¢nds half of her iirne working with Southern Synod.
ACHIEVEMENTS AND PERFORMANCE
By the nature of ihe Trnst's aims it is difficult to have quantitative measures of perfomiance and achievelnenl. though we
are ¢ollfident that by 5UPPOrting local ¢hurches in their mission aim$, we are providing a publi¢ b¢nefit.
Page 3

The United Reformed Church
Southern S nod
Acom
anv Limited b Guarxntte
Tru
t Limited
R¢
rt ofthe Trustees
for the Year Ended 31 December 2023
During 2023 the Trust was able to sell one property relating to ¢losed church buildings which contribuied £103K to our
income figure. The Trust gave grants of £1.266m to improve 30 church buildings and of £5JOK to 27 churches to improve
th¢ manse accomM(￿at10n for their ministers.
Over £542K was granted from the general and desi￿1a1ed Fwids to churche5 and other organisations to support their
mission work. A new line of support 15 helping churches in their online worship.
The Trust agreed to continue to contribute to Inter SyniKI Resource Sharing with £50,000 being paid in 2023. Churches
within lh¢ Synod also contrbuted substantial amounts towards the United Reft)rnied Church's Ministy and Mission Fund.
FINANCIAL REVIEW
Re*rve$ Policy
The Balance sheet on Page 10 indicate5 the amount in the Unre5tri¢ted Fund as at 31 December 2023 was £18.048 m.
When thi5 is adjusted for Endowmeni Funds. Fixed Asseis and programme related investments it is Caleulated that the
unrestri¢ted ￿nd ￿Sets readily available amount to £16.863m.
Although this amounts to more than 10 years of normal expenditure it is reco￿lsed that this h05 accumulated mainly from
the disposal of redundant church buildings and that this income will not continue long t¢m. The Synod Trust does not
rais¢ fvnds and investmeTrt income does not cover the costs of running the SyTtod Trust's nonnal activities. The
Unrestricted General Funds are dependent on the uncertain income arising frotn the disposal of redundant church property
to tn¢et the shortfall and cany out all other mission work and support to member church¢s. From time to time the Trust h&$
to invest in new property for programme related activities and this requires an above av¢rag¢ amount to be kept in reserve.
The tn￿lee5. aciing on advice of the Finance Cortm)ittee have agreed to make rnOTe money available for mission in the
Southern Synod based on a 10 year rolling budgeL This will InCre￿e the annual ¢xkxnditure and gradually reduce the
historic reserves without putting ihe financial stsbility of the Trust in jetspardy.over £1.9m was awarded in grants and
loans to local churche5 in 2023 within this ￿h¢Me.
InvestrneDt policy and obJe¢tlV¢5
Th¢ Trust invesnnents are held in the Common Investment Funds run by independent professional investment managers.
These invesknents aim to balance growth and income m￿[mi2]ng total return, whi15t meeting the Ethical Criteria agreed
by the United Refornied Church. The Trust funds Can be invested up to 85 /• in equities with a minimum of 15•/0 in fixed
interest funds. These rntios were reviewed in 2018 to ensure they are still appropriate to meet the Synod's cash flow
requirements. The new ratios agreed were 60-80C/o in equitie& 10-30Q/o in Fixed inieresi and 0-200/0 in Propety Funds.
Page 4

The United Reformed Church
southern S nod
Acom
#nv Limited b Guarxntte
Trust Limited
ort ol the Trustees
ror the Year Ended 31 December 2023
FUTURE DEVELOPMENTS
The Trust will continue its work in support of I￿al churches within the Synod to develop 4nd extend their mission.
Vuring 21Y21 the I rust continueij discussions with the Uniteo Ketormed Lhurch regarding a solution io provide tinancial
support to the Ministen Pension Fund which is in defieit. Due to the structure of the national church and ministerial
appointments there is no legal obligation for the Trust but all of the re¥ional and Datiollal bodies have been approached
and there is wide acceptan¢e that there is a moral obligation at the synod lev¢1 and that such support does fall within the
charitable purposes of the Trust. The Trust, together with the other twelve synods, agreed to make contributions to clear
the deficit by 2030 with our commitment being £5m in the period 2021 to 2024. In view of the healthy cash position of the
Trust li made the first payment of £2.000,000 in December 2021 and the second of £1,500,000 in NoveTnber 2022. A
review will take place in 2025 t(Tr &s¢¢rtain whether further funds will be required. Due to the Strength of the reserves of the
Trust we do not anticipate any detrimental effect to th¢ core financial Position of the Trust due to the Trust's participation
in clearing the deficit.
The Trust will ¢ontittue to participate in these national discussions as required. The Trust continues to monitor and review
the position to ensure that any such final commitment is affordable and does not put the fitwicial stsbility of the Trust at
risk.
FUNDS HELD AS CUSTODIAN FOR OTHERS
The trust holds deposits and investments on behalf of local churches. As at 31 tk¢ember 2023 these amounted to
bank deposits of £3,206,141 (2022.. £1.809.393) and investments of £2,176.82J (2022.. £2,877,235). Such investments ar¢
held in 5¢parate accounts and managed by an irtdependent investment manager.
TRUSTEES
The Trustees during th¢ year under review were".
Miss L Austin
Revd B Banks
Mr J Denison
Revd B Fidder
Revd R Furley-smith
Mr A Kirby
Mrs H Miles
Revd K Plumpton (resigned 31 May 2023)
Mr D Walters
Page 5

The United Reformed Chureh
Southern Svnod
Aco
nv Limiied b Guaraniee
Trust Limited
ort of the Trustees
for the Year Ended 31 De£embtr 2023
STATEMENT OF TRUSTEES RESPONSIBILITIES
The trustees (who are also the dir¢¢tors of The United R¢formed Church (Southern Synod} Trust Limited (A Company
Limited by Guarantee) for the purposes of company law) ar¢ responsible for preparing the Report of the TTUStees and th¢
finall¢ial staremenis in aecordance with applicable law and United Kin&Tdom Accounting Standard5 (United Kingdom
Generally Accepted A¢counting Practie¢}.
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of
the state of affairs of ihe charitable company and of the incoming resources and application of resources, including the
income and expenditure. of the charitable ¢ompany for that period. In preparing those financial statements. the trustees
are required to:
seleet suitable accounting poli¢i¢s and then apply them consistently-
observe the methods and prlnciples in the Charity SORP-
make judgements and estirnates that are reasonable and pruden¢.
prepare the financial ststements on the going concern b8sis unless it is inappropriate to presume ihat the eompany
will continue in business.
The tru51ees are resp)nsible for keeping proper accounting rtcords which disclose with r¢a50nabl¢ accuwy at any time
the fjnancial position of the Charitable company and to enable them to engure that the fillancial statements comply with the
Companies Act 2(M)6. They are also responsible for safeguarding the assets of the charitable company and hence for taking
reasonable steps for the prevention and detection of fraud and other irregularities.
In so far as the trustees are aware..
there is no relevant audit infomi*ion of which the charitsble company's auditors are unaware., and
the trustees have taken all step5 that they ought to hav¢ taken to make themselves aware of any r¢l¢vant audit
iDfomi*ion and to establish thai the audilors are aware of that in(orTnation.
STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDJTORS
So far as the trustees are aware, there is no relevant inforniation defined by Section 418 of the Companie5 Act 2006) of
which ihe ¢haritable company's auditor5 are unaware, and ea¢h trustee taken all the steps that they ought to have taken
as a trustee in order to make them aware of any audit infornialion and to establith that the ¢hariiable ¢ompany's auditors
a￿ aware of that information.
AUDITOILS
The auditors. Thomtom Springer LLP, will be proposed for re-appointtnenl al the forthcoming Annual General Meeting.
This report has been prepared in accordance with th¢ spxial provisions of Part 15 of the Companies Act 2006 relating to
STnall companies.
ON BEHALFOF THE BOARD..
J Denison - Tnjstee
Date..
Page 6

Re
ort of tht Inde
endent Auditors to the Member5 of
The United R¢formed Church
Southern
od
Trust Limiied
Opinion
We haye audited the fInancial sratements of The United Refornied Church Isollthem Synod) Trust Limited (the
charitable ¢ompany') for the year ended 31 De¢ember 2023 which comprise the Staternent of Financial Activities. the
Balance Sheet and notes to the financial statements. including a summary of significant accounting policies. The
financial reporting framework that has been applied in their pr¢parntion is applicable law and United Kingdom
Accounting Standards (United Krngdom Generally Accepted Accounting Practice).
In our opinion the financial strdtements..
give a true and fair view of the state of the charitable company's affairs as at 31 December 2023 and of its incoming
rttources and application of resources, including its result, for the year then ended.,
have been properly prepared in accordance with United Kingdom Generdlly Accepied A¢counting Practice. And
have beeTt prepared in accordance with the require￿entS of the Companies Act 2006.
B85is for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISA5 (UK)) and applicable law.
Our responsibilities under those standards are further described in the Auditor5. responsibilities for the audit of the
financial statements Section of our Teport. We are independent of the charitable cotnpany in accordance with the
ethical requirements th￿ are relevant to our audit of the financial stat¢m¢nts in the UK llicludrng the FRC'S Ethical
Standard, and we have fulfilled our other ethical responsibilities in a¢¢ordance with these requirements. We believe
that the audit evidence we have obtained is sufficient and appiDPliate to provide a basis for our opinion.
CoDclusions relating to going eoncern
In auditing the fInan¢ial statements, we have concluded that the trustee5' us¢ of the going concern b&5is of accounting in
the preparaiion of the financial S￿eMentS is appropriate.
Based on the work we have perfom¢(L we have not identifjed any material un¢¢rtainties relating to events or conditions
tha4 individually or collectively. may csst significant doubt on the charitable company's abiliry to continue as a going
concem for a period of at least twelve months from whert the financial sta*ments are authorised for issue.
Our responsibilities and th¢ responsibilities of the trjstees with respect to going concern are de%ribed in the relevant
sections of this report.
Other information
The trustees are rEsponsible for the other inforniation. The other infom)ation comprises the information in¢luded in the
Annual Repo¢ other than the financial statements and our Report of the Independent Auditors thereon.
Our opinion on the fInancial statetn¢nts does not covtr the other infomation and. except to the extent otherwise
explicitly stated in our reporL we do not express any fom] of assurance conclusion thereon.
In connection with our audit of the fmancial statement4 our responsibility is to read the oiher infomiation and, in doing
so, consider whether the other infomation is materially inconsistent wilh the financial statements or our knowledge
obiained in the audil or otherwise appears to be materially misstated. If we identify such material lljconsistencies or
apparent material misstatements, w¢ are required to d¢leTmine whether this gives rise to a material mi55tatement in the
rinancial statements themselves. If. based on th¢ work we have perforniel 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.
Opinions on other matter5 prescribed by tbe CornpaDies Act 2006
In our opinion, based on the work undertak¢n in the course of the audit..
the infomation given in the Report of th¢ Trustees for th¢ financial year for which the financial statements are
prepared is consistent with the fll)att¢ial slatemenis. and
the Report of the Trustees has been prepared in ae¢ordance with applicable legal requirements.
Page 7

Re
ort ofthe Inde
endent Auditors to the me￿berS of
The United Reformed Church
Souihern
Trust Lirnited
Mktters on whleh we are required to report by exception
In the light of the knowledge and understanding of the charitable company and its environm¢nt obtained in the Course
of the audiL we have not identified M￿er¢al misstatements in the Report of the TTUStees.
We have nothing io report in respect of the following matters where the Companie5 Act 2006 requires us to report to
you if, in our opinion..
adequate accounting records have not been kept or returns adequate for our audit have not been received from
branches not visited by us- or
the financial statements are not in agreement with the accounting records and returns. or
¢rtain disclosures of trustees. remuneration specified by law are not made. or
we have not received all ihe infomiation and explanations we require for our audit. or
the trustees weTr not entitled to take advantage of the small companie5 exemption from the requirement to prepare a
Strategic Report or in preparing th¢ Report of the Trustees.
Responsibilltle$ of trustees
As explained More fully in the Statement of Trustees, Responsibilities, the trnstees (who are also the directors of the
charitable company for the pllrposes of company law) are responsible for the preparation of the f￿ancial statements and
for being sat15fied that they giv¢ a true and fair Yiew, and for such intemal control as the trustees det¢rmin¢ is necessary
to enable the preparation of financial siatements that are free frorn material misstatelnent, whether due to fraud or e￿Or.
In preparing the financial statements, the mistees are responsible for assessing the charitable company's ability to
ontinue ￿ a going concern, disclosing, as applicable, matters related to going concem and using the going concem
basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have
no realistic alt¢Tnative but to do so.
Our responsibilities for the audit of the flnam¢ial ststements
Our obj¢ctives are to obtain reasonable &ssuranc¢ about whether the financial Statements as a whole are free from
material misstaiement. whether due to fraud or error, and to issue a Report of the Independent Auditors that includes
our opinion. Reasonable assurance is a high level of assurance, bui is not a guarantee that an audit conducted in
accordanc¢ with ISAS (UK) will always detect a material misstatement when li exists. Misstatements can arise from
fraud or error and are considered material if, individually or in the aggregate, they could reawn2bty be expected to
influence the economic decisions of users taken on the b&sis of these financial statements.
The extent to which our procedures are capable of detecting irregularities, including fraud is derailed below:
Irregularities, including fraud. are instan¢es of non-compliance with laws and regulations. We design procedures in line
with our responsibilitie5, Outlined aFK)ve, to deted material mi5ststements in respect of i￿egUlaritieS, it]cluding fraud.
The extent to which our prwedures are capable of detecting irregularities, including fraud, is derailed below.
Based on our understanding of the charity and the indusiry in which il operates, we identified that the principal ri$k5 of
non-compliance with relevant laws and regulations. Non40mpliance with these laws and retsulaiions might have a
rnaterial effect on th¢ fmancial statements.
We evaluated management's illcentives and oplxirtunity for fraudulent manipulation of the financial staiement
{including the risk of override of controls) and detemiined that the principal risks were posting of unusual journal
entries outside the nomial course of business and revenue recognition journal entries to rnanipulate the charity's
perforniance rneasures and obJ￿IlY¢S.
Audit pr￿edureS perfortn¢d included: review of the financial statements and disclosures to underlying SUPEM)rting
docurnentation. review of compliance with the laws and regulauons, enquirie5 Wlth managemenL iesiing of jollmals and
evaluating whether th¢re was evidence ol bias by the trustees represented a risk of material misstat¢m¢nt due to
fraud.
Page 8

ort of the Inde elldent Auditor5 to the Members of
The Uniitd Reformed Church
Southern
Trust Limited
Under ISA 240 (UK) there is a presumed risk that revenue may be misstated due to the improper recognition of
revenue. To addres5 this risk, we obtained an understanding of th¢ ¢harity's revenue recO￿[tIOn wlicies and compared
these to the aecounting standard, record5, processes and reports r¢venue transactions. We tested a sample of revenue
transactions to supporting evidence and tested, on a sampl¢ basis, revenue related balances in the balance sheei.
There are inherent limitations in the audit procedures described above and the further removed non-eompliance with
laws and reglllations is from events and transactions reflected in the financial staiemenis, the less likely we would
become aware of it. Also, the risk of not detecting a maierial misstatemeni due to fraud is higher than the risk of not
detecting one resulting from error, as fraud may involve deliberate concealment by, for ¢xaTnpl¢, forgery or intentional
misrepresentations, or through collusion.
A further description of our responsibilitie5 for the audit of the fman¢ial stotem¢nts is located on the Financial
R¢porting Council's website at www.frc.org.uklauditorsresponsibilities. This d¢5cription forms part of our Report of the
Independent Auditors.
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 Aci 2006. (￿r 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 pemiitted by law, we do not accept or assume responsibility to anyone other than the charitable company and ihe
charitable wmpany's members as a body, for our audit work. for thi5 repor¢ or for th¢ opinions we have fornied.
Zahid Saleem FCCA ACA MBA (Senior Starutory Auditor)
(or and on behalf of Thornton Springer LLP
Chartered Accountants
Statutory Auditor
67 Westow StreeL London, SE19 3RW
Unit¢d K￿ng
om
Date..
Page 9

Th I nited
orffled C hurth Soul
C-o
Jlnv l.srniled bv Gyarint¢o
Tr Sv￿￿j Trust
itwre 4rcownt
r Eftdtd JI DEC
31.12.17
Tolal
31.12.22
Total
Funds
Ge￿trAI PurpDse5
FuDds
Desigttaied
F￿￿d5
Resirfrted
Furtdy
Notss
INCOME AND ENDOWMENTS:
lllcomt frnm
674.231
438,696
40J20
I,153A67
1.136.795
Inoome fro￿1 ¢hArilable Hctlwllks
t%)nat1¢Y￿ artd Le8acie5
Other Incfflne
30,2
387_018
4,558
34J22
J87,•l8
20.402
86.979
28
Tothi operating lleornt
1.091533
438.096
45￿78
1.575J07
1344236
lTrcome on sak of prorKrties
ProfiV(Los51 OD sale of propcrtics
Totsl J•tomt Elldowrnenrs
103.750
72,620
1.015.￿0
1.718.Y50
72ffj20
10.U25.(QO
I267.903
2J1$3h96
45.Ill8
3J66.677
11269.236
IXPENDITLRE
eK[¢￿J11ur¢ on Charitsbk A¢iivili¢5 2b
TotAI operntint eAPtnditu
2,723228
2,725,228
674.5
20,477
20,477
3A20309
3020209
2,344,364
2,344,364
2b
674,504
PaymEnl lo InteTrSyn
Re50llrce Sharing
Conthbuiion io the Mirtst¢
P¢n5iDn Fund
50,000
35.(X)O
Discouniirt8 adjusttneni for[￿8
T¢rniCredi¢or
64.281
64.Z81
È3.598
Purchase of Mans
752.500
752.500
1.235,Q
Tfjtal EXPE￿01¢Ure
2J39J09
1,427J04
21A77
4286.99•
3,697,962
Nel ExptDdltllre
2b
1th31695
2(601
II¥V02}
Ntt [￿t0[A¢1(ExpETrdiNftj
11.571.61J6
626th92
I4￿1
1920J13
7.571.274
Traoyfers betw0e￿
Otbtt R¢¢ognised C*lW{LosseS
N¢t{L￿lIG￿ln5 on lTrveslmentg
822236
295,164
21,4(N)
1.138,80D
{4.049.5871
Yet rnoverneAt in hnd&
(749J70}
9210S6
46,001
2I8A87
3,521,687
Totsl bTouÈhtfoTh¥gnl
Tot*1 e8rritd for**rd
18.797.999
11.027.093
1.072.274
30.897.366
27.375.679
18
11.948.949
31.115.8S3
30.897.366
All incom¢ and ¢xpendiwre d¢riv¢ from continuing a¢iiviti¢s.
Th¢ fonn rArtoFihese financial $Wtr￿¢nt5
Pase 10

The Llnlted Reformed Church
Soltthern S
Actsth
an
Llmlied b Guaraniee
B#lante Sheet
At JI De¢ember 2
rust Limited
23
Unrestrltted Funds
General Purpose5
Designlted
Funds
31.12.23
Total
Fund$
31.12.22
Total
Fllnds
Re5trieted
Fllnds
Notes
FIXED ASSETS
Tangible a55ets
Investment5
Social Investments
207.816
17.450.929
544.179
18.202.924
74.721
9.64J.521
282,S37
27541.606
544.179
28J68J22
302.063
26,378.563
95.816
26,776,442
10
447.156
9.718,242
447,156
CURRENT ASSETS
Debtors.. amounts falling due
within one year
12
Cash at bank and in hand
14,682
3.499.461
3,614,143
114,682
593,743
7118,425
76.171
7.055.6J5
7.lJl.806
2,420.368
2,420.368
673,914
673.914
CREDITORS
Amounts falling due within
one year
13
NET CURRENT ASSETS
IILIABILITIES)
13.768.4381
1154.2951
1189.6611
2,2JO.707
12.795)
671.119
{3,960W41
2,747,531
1.640.6771
5,491.129
TOTAL ASSETS LESS
CURRENT LIABILITIES
18,048.629
11,948,949
1,118,275
31,115,853
32,267.571
CREDITORS
Amounis falling due outside
one year
(1,370,205}
NET ASSETS
14
18,048,629
11,948,949
1,1 18275
31.115053
30.897,366
FUNDS
General Purposes
Designated
Restri¢ted
TOTAL FUNDS
1&048,629
11,948,949
I,11837S
31,1 15.853
18.797,999
11.027,1)93
1072,274
30.897.366
14
The notes form part of these financia] staterllents
Page 11

The Uttited Reformed Church
Southern S
Acom
Limited b Guararttce
Balance Sheet- eontinued
At 31 December 2023
Trust Limited
The charitsble company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year
ended 31 Decemb¢r 2023 and the m¢Tnbers have noi deposited nolice, pursuant to Section 476 of the Companies Aci
2006 requiring an audit of these financial statements.
These financial statements have b¢¢n audited under the reqU1￿ments of Section 144 of the Charilies Act 2011.
The trustees acknowledge their responsibilities for
la}
ensuring that the charitable company keeps accouniing records that comply with Sections 386 and 387 of the
Companies Aci 2006 and
preparing financial slatemernts which give a and fair view of the stste of affairs of the charitable eompany as
at the end of each financial year and of its surplus or deficit for ea¢h financial year in accordance with the
requirements of Sections 394 and 395 and which otherwise comply with the requirements of th¢ Companies Act
2006 relating to financial statement5, 50 far as applicable to the ¢haritable company.
(b)
These financial Statements have b¢en prepared in accordance with the special provisions of Part 15 of the Comparties Act
2006 relating to small charitable companies and with the Financial Reporting Standard 102.
The f￿ancIal stateTnents were approved by the Board of Truste¢s on .. .. .......................
behalf by..
d were signed on its
Ison
Trustee

The Llnited Reformed Chureh
Southern S nod
Aco
nv Limtied bv Guar&ntee
Statement ofcash ￿0w5
l'ear Ended 31 Dt¢eENber 2023
Trust Limited
Iyotes
21123
2022
C45h flow from operating aetivitie5:
Ne¢ cash provided/used in opergtiNg aetiwities
Cash nows from illvestlng activities..
Dividends and interest from investments
pu￿haS¢ of fixed assets
Proceeds from the sale of fixed assets
Purchase of investmeots
Issue of Piogramme Related Loans
Repayment of Programme Related Loans
Proceeds from the sale of investments
Net tash provided bylused in investing getivitie5
11.127J91)
4,100,630
1,049J74
(3248)
91.980
{19JOI.442)
(481.267)
32,9114
19377,198
665,499
996,930
{1,9951
230
15,885,49ll
6,554
885,624
13.998,1481
Chang¢ in ea$h a￿d cash equivalents in the r¢porting period
(461.892}
10?482
Cash and cash equlvalent5 at the begiDlling of the reportlng period
7,055,635
6,953,153
Cash and c￿h ¢quiv8lents at the end of Iht re￿rtIng perlod
6J93.743
7.055.635
Notes to the ststern¢nt of ¢8skn flows
461.892
(102.482)
Recontili#tion of net incorNelexpeDditure to net Ca5b
flow from operating activiti¢5
Net incom¢lexpenditure for the reporting period (4$ per
th¢ statemellt of activities)
218.487
3,521,687
Adjustmtnts for:
Depreciation charges
(GainsyIos5es on tnvestments
Dividends and interest from inv¢stmenlS
$sl{profitl on the sale of fixed asseis
Decrea5ellincrea5el in debt￿$
Increaselld¢creasel in creditors
Net easb provided by operating •¢tivities
2,985
(1.138000)
(1.049J74)
(72,1911)
138311)
950,012
(1,127J91)
3,759
4.049,587
(996.930)
165
(40.421}
12.437,217}
4.100.630
Analysis of tash and cash equ5v#lents
Cash at bank and in hand
6A93,743
7.055.6i5
The not¢s fomi part of these fJnan¢ial siatemellts
Pag¢ 13

The United ReforTned Church
Southern S ll¢)d
Acom
Limited bw Gu&r8nte¢
Trust Limited
Notes to the Fiftancial Statements
for the Ye8r Ended 31 Deeernber 2023
ACCOUNTING POLICIES
GeTreral Information
The United Refonned Church (Southern Synod) Trnst Limited is k charitable company, limited by guarantee and is
registered in England and Wales. The charitable CoMpart￿S registered number and registered office address can be
found on the CoEnpany Information page.
Accounting convtntlon
The charity constitutes a public benefit entiry as defined by FRS102. The financial Statements have been prepared
under the historical cost convention, with th¢ exception of investments which are included at fair value. 2nd in
accordance with the Financial Reporting Standard 102, the Charities Statement of Re¢onunended Practice (FRS102).
the Comparties Act 2006 and the Charities Act 2011.
The financial statements are presented in sterling which is ihe fvn¢tional cU￿encY of the charity and rounded to the
nearest pound.
Going concern basis
The financial 8tst¢ments have been prepared on a going concern basis. The directors have considered budgets. c￿h
flows and the impa¢t of subsequent events, including that of COVID19. Whi15t the economic shutdown in respon5¢
to COVID 19 ￿￿5 had a significant impaet on the charity's operation5. the directors are satisfied that the charity has
suffi¢ieni available resources, both in temis of cash and investments that can be converted to Cash, such that there ts
no material uncertainty and the going concern basis of preparing the fman¢i#l statements continues to be appropriate.
Fwnd$ ltteluded
The r￿Cial statements show the combined income, expendithre, assets and liabilities of the following fiLnds which
are administered for the benefit of the United Refortned Church within the Southern Synod:_
General Purpose5 Fund
Man% Fund
Synod Mission Fund
Alfriston Mission Proje¢t
Funds held for uniting churches
Church Buildings Fund
Retired Ministers Housing Fthnd
Welfare Fund
Milton Hall Fund
WcM)Iwich Fund
Ftmds administered on behalf of local churches are not included.
Deseriptioll and Use of Funds
R￿trict¢d in¢ome ￿ndS are fi￿d5 whose use is restricted to specific purposes according to the teTms on which the
fimds were received. Ettdowmeni fitnds are pern￿lent endowments which are required to be retaine& but the income
from these funds can be used for the benefit of the charity, subjeci in certAin cases to specific restrictions contained in
the original endowment.
Page 14

The Unite(f Reforrned Church
Southern S nod
Acom
Lirnited bv Guarantee
Trust Limited
Notes to the Finantial Siatement5
ror the Year Ended 31 December 2023
I ACCOUNTING POLICIES leontinued)
Unrestricted income funds may be spent generally for furthering the Christian and charitable work of the United
Refornied Church in th¢ Southem Syn(Kl. The main fund in this category is the General Purposes Fund. Certain
funds have been allocated for Manses, although the Synod retsins authority to re-allocate such funds and 50 they are
treated as Designated Funds within Unrestricted Income Fund5. There are also three other smaller designated ftmds
arising frorrt the sale of r¢dundant church buildinos.
The Generdl PU￿OseS Fund is the main fund of the charity and 15 an unrestricted fund. It is made up of boih General
Purposes and Church Aid, the initial fi￿d set up after the URC came inio force and General Purpose5 Fund coming
from the apportionJnent scheme in resp¢¢t of the London Congregational Union.
The Manse Fund is a Designated Fllnd which caTne into ￿ing in 1990 by approval of the Synod. Th¢ Synod Missio
Fund and Funds held for wilting churches have arisen from the sale of a church building in 2012 following an uniting
of two existing churches. The united church can apply to the latter fvnd for a project to develop and further their
mission whereas the Syn(xl Mission Fund is available to all churches within th¢ Synod for similar projecis. The
Alfriston Mission PToject is a ￿nd arising from the sale of a church hall in Alfriston which has been designated to
develop in the mission activities and community facilities of the fomier Alfriston URC buildin
Restricted Funds
The Church Buildtng ￿nd came from th¢ apponionment scheme in re5pe£t of the London Congregational Union.
(LCU) its fi￿d5 can only be used for the upkeep, repair, improvement extension, provision and erectioll of church
buildings.
The Retired Ministers Housing funds both have a house for a retired minister. They operdte in Kent and Su55eL
The Welfare fund came from the LCU. Its pu4)ose is relievin& in cases of neel ministers, members of churches and
retired ministers.
The Milton Hall fund can be used for general purposes but only within the inner London Boroughs South of the
River Thames.
The Woolwich fvnd is for work in the London Borough of Greenwi¢h.
Contribution to Pensi04 Funds
The charity operates a defined benefit scheme, The Pensions Trust Defined Benefit Scheme. which is a multi
employer scheme where the underlying 2S5ers and liabilitie5 are not separately identifiable. In accordaD¢¢ with the
Financial Reporting Standards, it ts accounted for ls a defined contribution scheme. Conrributions are charged as
¢xp¢nditure as they become payable in accordance with the njles of the scheme.
Income
All incotnit]g resources are tncluded in the statement of financial activities when there is suffi¢ien¢ Certainty that the
receipt of income is considered probable and the amount can be quantified with reasonable accuracy. The following
specific policies are applied to particular categorie5 of income..
Volunthry incorne is received by way of grants, dortation5 and gifts and is included in full in the Statement of
financial athivi¢ie5 when receivable.
Pa8¢ 15

The Reformed Church
Southern S n¢)d
Acom
Limited bi GuaraTEtee
Trust Limited
Notes to the Financkal Statements
for the Year Ended 31 Decernber 2023
I ACCOUNTING POLICIES (continued)
Expellditure
All expenditur¢ is ac¢ounted for on an a¢¢ruals basis and has been classifIed under headings that aggregate all costs
related io the category. The Synod is not registered for VAT so all irr¢¢overable VAT is charged with th¢ related
cost.
All costs are treated by the finance committee as relating to the unrestricted fi￿d UDles5 there is a specific
require]nent on the individual fiJnd5.
Individual Chur¢h Property. ineluding Pastoral Man5e$
These assets are noi shown in the financial 5tatem¢nts as they are not the exelusive property of th¢ Synod. Sal¢
proceeds from redundant properties or from part thereof are treated as unrestricted In￿Me for genernl funds and not
shown until received.
Non-pa5toral manses, which are used for Synod related activities are included in th¢ Balan¢e Sheet at ¢05L subject io
an impairnient review and any deficits are accounted for in the Statement of Finan¢ial Adivities on properties
marketed for sale.
Jointly Owned Property
Property owned with The URC Retired Ministers Housing &)¢iety Limited is held under the tern￿ of an agreement
with the Society whereby Ihe Charity receives no income frorn the property but coniributes towards th¢ ¢ost of
maintetwice and repair of the property. The property is included in the Balance Sheet at cost.
Custodian Trusteeship
Assets held by the charity as custodian tnJ5tee are not shown in the fman¢ial statements. The details of those fLhn(ts
are included the Trustees, annual report.
Depreciation
Depreciation is provided on all tangible f￿ed assets, apart from property, at rates ¢al¢uiated to writ¢ off the cost on a
Straight line basis over their esttmated useful economi¢ lives as follows-_
Fixtures, Fittings & Equipment- over fouT years
Computer Equipment-over thre¢ years
Motor Vehicles-over four years
No amourtts under £100 are capitalised.
The ￿SteeS recognise that the cost of buildings used as fimctional assets have a finile life an& in the norn￿[ course
of events, would be depreciated io their expected residual value. However, those properties that fall into this category
are located irt an area of the county where that part of the cost that is attributable to land, which does not depreciate,
is significantly higher than in other parts of th¢ country. Furthernore. the Charity has a policy of maintaining its
properties to a high level, which extends the life of the assets beyond their nornial exP￿ted lives. Taking these
factors into account the trustee5 consider that any depreciation oll the buildings would consequently be immaterial
and depreeiation is not therefore charged.
Operating Leases
Rentals paid under operating leases are ¢lwg¢d to the Statemeni of Financial A¢tivitse5 as incu￿ed.
Page 16

The United Reformed Church
Southern Svnod
Acorn
anv Limlted b Guarantee
Trust Limited
Notes to th¢ Financi81 Ststements
for the Year Ellded JI December 2023
I ACCOUNTING POLICIES (Continued)
GrgDt5
Grants payable to local churches. organisations and individuals 2re ¢harg¢d in the year of approval. The value of
grants approv¢d, but Still to be paid is included in the balance sheet as a CUTTent liability.
Investments
Investments a￿ stated ai fair value at the balance shttt date. The Statement of Financial Activities include5 the nei
gains and losses arising on revaluations and disposals throughout the year.
Support and Indirect Costs
Support expenditure has been allocat¢d directly to the relevan¢ activity cost category.
Indirect costs which in¢lude prernises and office costs have been allocated on the basis of ¢ach activity costs as a
proportion of ihe total direct costs. shown in not¢ 3.
Financial instrum¢Dts
The charity only has financial assets and financial liabilities of the kind that qualify as basic financial instruments.
Basic financial instruments are initially T￿OgnISed at transaction value and subsequently measured ai their settlement
value.
Judgements and key Sources of estimation uncertainty
In the application of the cotnpany's accounting policies, the trustees are required to make jud¥eTnents, e5tiTnates
and assumptions about th¢ carying amount of assets and liabilities ihat are not readily apparent from other
sources. The estimates and associated 4ssumpiions are based historical experience and other factors that are
considered to be relevant. Actual resulis may differ from these estimates.
In the opinion of the trustees, there are no special disclosures required in respeci of judgements and estimation
uncertainty.
Page 17

The I'niitd Ref(Frmrd Church struthL'r￿ Svrtvd
an%. l.imiied bi (iuargnt¢t
l-rust I.imired
Dte5 10 the FiJ¥anti¥l Stxtem¢nt5
for Iht I'c#r l.-ndtd 31 Decen1b¢￿r 2023
2 INCOMEAYD EXPENDITIIRE
l Analy515 of Total Income
Unr¢strict¢d Funds
General PurFx)Ks
Designated
Funds
Funds
31.1223
Total
Futtds
31.12.22
Total
Funds
Restricted
Ineomt from gtnerated fththds
Rents Re£eiv&l
Investment incomE-lisled investments
7,5110
488.239
178,512
674.251
96,593
298,3(A
43,739
438.696
In4,1)93
798,284
251,090
.153.467
139,865
949,942
46,988
1,136_795
28,839
40.520
Income from ¢haritable attivitks
Don￿lOn$ and Legacies
Donattons
Legacies
Denominational Grani
Monics from cloga4 churchcs
Quinqvennial contrib4jlion r¢¢eiv¢d
668
3.668
29.508
29J08
2.500
365
13,929
20,462
756
3.890
4.558
30,264
34,822
Other incom¢
Tr￿rting course contribuiien$
Coniribution towards legal costs
Grants awarded ne longer required
525
2,750
383.743
387,018
525
2,750
383.743
387.018
135
86.844
86.979
Total operating in£omt
1,091J33
43&6Y6
45078
IJ75J07
J.244.236
Incomeon s￿e9F PToWi¢s
f c105ed chu¥ches
)f surplus manses
103,750
1Tr3,750
1,615,tKHI
1.718,750
9.225,00(k
800.000
10.025,000
1,615.000
1.615,000
103.750
ProtiUILossl on ￿e oFfix¢d asset..
-Oth¢r prowy
72,620
72.620
72,620
72,620
Total income
,267.Y03
2,053,696
45,078
3 J66ffj77
11209.236
PaEe 18

The L'ttited Reformed Church Southern S nod
Limired b Gusrnnteo
Trust Limileil
Notes to tbt Fln•m¢i•l Ststements
for thè Yelr End¢d 31 December 2023
2 INCOME AND EXPENDITURE IcoTrtinuedl
bl Analysis of Total Expenditsrt
Un￿strICted Funds
CKneral Purwses
Designated Restricted
Funds
Funds
Funds
31.12.23
Tot21
Fund5
31.12.22
Total
Fund5
Expenditur¢ on Chirit•ble Activities
MiDistry & MissiOn:_
Mission Officer
Ecumenical Otli¢¢r
Grants Inote 41
Sha￿d indirect costs Inoie 3)
44,156
1,486
781,410
56,778
883.830
44.1
1,486
782,779
56.778
W,199
50.163
1,206
207,529
24,741
283.639
1,309
1,369
Training of Ministers & Lay
preacher5 Inote 41
Students (note 41
Trainin8 & Dcveloptnent Offir¢T
Children's & Youth tkv¢lopment Officer
Safeguarding OITi¢er
Other training 105t5
Shared indirert W5t5 Inot¢ 31
17.139
,250
5&145
55.809
28,372
7.739
12.420
180,874
17.139
1350
$8,145
55J09
28J72
7.739
12.420
J80174
29,054
750
36,518
52,897
25,767
7.WO
15,853
188.749
Property:"
Church building grdnts Ino* 41
Nlanse Grants (note 41
Manse Ex￿AstS
Quinqutnni21 Costs
Expenses on Sale & Purchase of Proixty
Other property C0515
Staff cost5
Shwed indirect Costs Inc* 31
1.206.380
1366,380
530,1)59
38,226
20.801
46.105
3&467
.170.412
136.101
11.667
3,420
216,766
24,025
.234
133,872
1,786.497
530.059
38.226
3.740
37.563
17.061
8,542
38,467
94,783
97,587
1.505 759
97J87
2,132.408
609.588
17.061
Page 19

The l.'nited Reformcd Chur¢h Southern
Acom
Li￿lted b Guarantee
Trust Limited
Not to the Finxntl#l Staternents
f r the Year EDd d 31 D¢eember 2023
2 INCOME AND EXPENDITURE {eontinuedl
bl Analysls of Totsl Expenditure
Unre5trictcd Fund5
General Purwscs
Designated
Funds
Ftsnd5
31.12.23
Total
Funds
31.12.22
Total
Fund5
Restricted
Funds
Governan¢e-_
Synod Together Meeting5
CL)rnmitttts
Honoraria SyniKI Tre&surer
Synod OtTic£rs' pay and expenses
Legal Costs
Audit Fees
Investment managemeni costs
Shared indirect Costs (no￿ 3)
2,810
2,127
1,000
16,648
4,391
18111
2.127
I,￿0
16,648
17,839
IiJso
159J09
10,646
221,729
1,546
1,000
2,266
58,724
10,660
13,448
105,794
10.646
li4.766
51,468
2.047
1,761
85.479
64.916
2,047
Total expenditure on ¢h4rit#bk aetiviti, 2,725328
674J04
20,477
3,420,209
2J44J64
Net expeRdlture OD operotkng 4eeouDt
{1,633.695)
(235,8081
24,601
{1&14.9021
11.IIKI.1281
Page 20

The UNlted Reformed Church
Southern S nod
Acom
Limited b GuarAntee
Trust Limited
Not¢s to the Financial Statements
for the Year Eftded 31 December 2023
3 INDIRECT COSTS
Unrestrieted Funds
General Purposes Designated
Funds
Funds
31.12.23
Total
Funds
31.12.22
Total
Funds
Resthcted
Funds
Premises Cost5:.
Synod rent & Hire of Rooms
Repairs and Maintenance
Synod Electricity
Insurance
Cleaning
18.870
366
1.500
,206
943
?9.885
18.870
366
1,SIMI
&206
943
29,885
564
1.500
972
21.415
0￿￿ce C05ts:.
Synod Employment Cosis
Car & Trdvel Expenses
Miscellaneous
Depreciation
L055 on Disposal of Fixed Assets
Telephone
Stationery and Publications
Postag¢
Photocopier-t£ase and Meter
EquTpment and Consumable Costs
IT and Website
Catering
I l j.9?3
113,923
3,029
2,984
2,985
430
5,187
1,086
1.044
1.029
l OJ64
4J92
592
147.545
122.700
2,985
430
5.187
1,086
1,044
1.0?9
10,364
4.892
3.759
165
1.83?
9??
786
8.007
4.i04
385
154,81?
147.545
Total Indirect Costs
177,430
177,430
176,2?7
Total
Ministy &
Mission
Training
Property
Governanc¢
Total Indir￿1 Costs
177,430
56,778
12,420
97,587
10.646
/• of Direct Costs
IOIP/o
32Vo
7/0
55/•
6/
Page21

The Ilnited RefDrffted Chureh
Southern Svnod
Acor
Limited b Guarantee
Trust Limited
Notes to the Fin#nci#l Statements
for the Year Ended 31 December 2023
4 GRANTS
The following grdnts have be¢n charged in ￿theTanCe of the Charitable objects during the year.'-
Institutio
Number
Amount
Individuals
Nujnber
Amount
Ministy and Mission:
Other mission projects
Ecumenical sitrjations
Local Church Missions
Youth & Children's Work
Welfare Grants
75,531
2,822
542,157
160,900
22
1,369
lJ69
36
781,410
TrdininE'.
Ministers & lay preacher5
StL￿ents
25
17.139
1,250
18J89
Property..
Local Churches
Manse5
30
27
57
1.266J80
530,059
1,79fj439
Total Grants Charged
93
2,577049
33
19,758
5 EMPLOYMENT EMOLUMENTS
31.12.23
31.12.22
Wages & salaries
Employers national insurance
Pension costs
266,478
31,949
68,412
366,839
245,743
30.500
80.498
356,741
The average number of employees during the year was as follows:
Ministy & Mission
Training
Property
Administration
No employee ￿¢¢iVed £60.(M)O per a1￿uM or more. All employee related costs are paid from unrestricted fvnds
Page 22

I..￿11￿￿ Rt10￿￿& fhur¢h Sfjuthtr
LimilEd bw Ciu¥ra￿lel
nod TIu5t Limittd
Note5 to Ihe FiTrAneiMI 5t&t¢ments
lor the Yc•r End¢d31 Ihttmber202J
6 TRUSTEES, REF*lUNERATION AND BENEFITS
Th¢ followin8honorarium, which Is InCl￿ed In Trusiees Expen525, Wa5 paid fo a Irus*edurinB year, in
8Lcordance with the gov¢min8do¢umeniand approved by the C￿ry(omMiSSIOn-
31.12.23
Mrj DÈni*nI5yntyJTr￿UTer)
I.cK)o
i.mo
Iwoo
DuringtheyeaT five trwtees{7022.'sixlw¢Fe reimbursed outof [rfKkereXpen5￿ rn8inly for*lepknne¢ostsand tra￿[11n8
totsllirtg£l.10912022". £768) No trustees12022". two) were a150 paid a to￿1 of £012022. £2,902) relaiins lotheir
51tions35 Stirthdiary mllllsiers, comprisin8 training ￿nig and reimbury¢mpni Df rnini51eiiul ¢xpen5¢5.
7 GA1￿$￿{LOssEsI ON IYVEST.MELYtS
31.1123
R¢a115ed Sam￿￿1055esl on investrnents sold
Less." Gain&qltsw51 weviou51y reeo8nistd in Syn￿1 acewnts
Nei gainslllossesl irt yt2r on invesimenlssold
Unreali5ed 8ainslllosseslon inveStft￿MIs forthe ye
Net gain￿(lOsSes) ort Investm¢￿ts forth¢ Yegr
970,D14
Il68.DlOI
801.fjIJ4
3J6.799
1,138803
((4)9232}
13,332.544)
13.941.776)
MOVEMEliT IN FUNDS
Balance
Inci)ft￿ Expenditure
Tr2nsfers
GaIn￿(l(9SSeSI Balance
twttN Fundsin InYe5Ements
Jl.li.23
Fund..
01.01.23
General PurFues
Unrr5tricled
Endowrneni
18,384.936
413.[￿3
IJ67.903 12,839.509}
801522
20,714
I7.614￿2
433,777
Designatcd
10.701,LNJI
2,053,696 11,427.004)
295.1&1 11.622
Alfriston Mi5510n Projeei
De*EnatyJ
170538
I70J38
Symd Missi¢n Fur
DeSi￿al£d
24.444
Fund held foT Uniting
DesI￿ated
Church Buildi￿8
Restrirttyj
Endown¢ni
13.473
8.014
7913
Welfare
28293
2.146
1,562
11,503
1.542
14S
29094
2.101
Endowment
Retired Minister5,
Housing
R¢5tric*d
Endowrt
316.710
177,WO
21.wl
1241
338J7S
177WfjO
Milton Hall
Re5tricied
117.0
210.140
10,283
4,423
6.321
13OA84
2l6461
WW1￿ch
199,408
6.830
{532)
9,284
214,990
iO.897.3
).366.677 14 1¥6.
31.115153
P8se 23

The Ilnittd Reforrned Church
Southern S nod
Acorn
Limited b GUAr#￿ter
Trust LiTriited
Notes to the FinanciaI Statements
for the Year Ended 31 December 2023
9 TANGIBLE FIXED ASSETS
FIxt￿re
Property
Equiprnent
Tota15
COST
At l January 2023
Additions in year
Disp05a15 in year
299.496
28,159
3248
(2.715)
327,655
3.248
(22,015)
{19,3￿)
At 31 tk¢ember 2023
280,196
28,692
308,888
DEPRECIATION
At l January 2023
Char(r¢ for period
Eliminated for disposals
25,592
2,985
(2.226}
25.592
2.985
(2,226)
At 31 December 2023
26.351
26JS1
NET BOOK VALUE
At 31 December 2023
280,196
2,341
282,537
At 31 December 2022
299,496
2.567
302,063
10 FIXED ASSET LISTED INVESTMENTS
UNRESTRICTED FLNDS
Fixed Interest
UK
Securities
RESTRicfED FUNDS
Fixed Interest
UK
Equities Fund Securiiies
Equities Fund
TOTALS
As at l January 2023
Purchases
Sales
N¢t gain￿[loS5es) fair value
5,225226 20,448,028
5269.980 13,690,107
(6,572,169) (11,480,161)
95,455
234.397
4.018,492
22,886,i71
189,58)
4,208,07S
102,041
87,416
(126,225)
1.289
64,521
322.682 26,097.977
253,939
19JOI,442
(202,960) (18J87,515)
5.657
336,798
379,)18
27 J48,702
192,904
379 J18 27,541,606
Cash held for Investment
Fair Value at ) l Decernber 2023
22,886,371
67.842
Cost ai 31 December 2023
4,042,543
22,710,830
65.073
370,477 27,188,923
All investment funds are held in the UK.
Page 24

Tho l Trited Reff*rMed C-hLtrth
oTruthcrn %vnod Tru%t LimÉte
l.imilcd bF c￿9￿*￿tee
Notrs to tht FinA￿(la1 Stattments
for iht Year Ended 31 Ik¢cThber ZQ23
11 SOCIAL INVESTMENrs
31.1223
31.12.22
Loans to Local ChU￿hr$
544,179
95.816
Loans mad¢ to iocaj chur¢hes and ministsrg #re llonnally repayable knveen ihree 8nd five ￿r5 and intertsi is
ch4r8ed * 5% per annum on thtout5tsndingbalance.
12 DEBTORS
31.12.23
31.12.22
Sundry d¢bt(X5
114,682
76.171
13 CREDITORS: AMOUNTS FALLINC DUE WITH1￿ OliE YEAR
31.1123
31.12.23
Oihercrediio
Contribuuon to Minist¢rs' Pension Fund
fjrdllts not dram
657,460
IAJ4,486
lJ68.948
3.960.894
334J54
1.306.323
1.640.
77
14 CREDrroRS: AMOUNTS FALLITr4G DiIE OLTSIDE ONE YEAR
31.12.22
31.12.22
Contributionto Ministers. Pcnsion Fund
1.370205
1.370.205
15 DISPOSITION OF FLNDSAS AT31 Dee¢r•ber 2011
Fund.-
TanBibl¢
Fixed Assets
SocLg1
InvestTnenl$
tkbtorsl
Cicdilot5
Cash &
Dep05i15
TOTALS
G¢n¢ral Purpos
Unreslricled 207,816
End0￿￿￿t
17.017.152
433,777
544,179
13,65J.756}
3,499,461 17.614,S52
433,777
Designatrd
74.721
9.495.507
141,64D
2,lY)4276 11.622,857
Alhi5ton Mission PTh)ject
Destgnat¢d
170.538
170,538
Synod Mis$ion Fund
D¢si8nalcd
148,014
1148,014)
24,444
24,414
Fund held for Unitll
ChurchES
Deswied
chI￿ch BuiidiThB
RestriC￿d
Eodowment
11:795}
3,652
857
7,913
7.913
W¢lfar¢
Regtri¢ted
Endowmeni
27.6Q9
1285
29,894
2,101
R¥iif¢4J Minisicrs,
Housing
R¢sknckd
Endowmeni
1,628
336,947
177,(M)O
338,575
177.000
Milwn Hall
RestriLTrd
Endown¢nt
49,618
216,461
80,866
130,484
216,461
Wwlwich
R￿triett0
141.8?6
27.541.606
7i.164
214.990
6J93.743 31.115.853
28? 537
544.179
Pttge

The United Reformed Church
Southern Svnod
Acom
Limited b Gu#rantee
Trust Limited
Notes to the Fiftancial Statements
for the Year Ended 31 Decernber 2023
16 PENSION SCHEME
Up until 28 February 2023, the United Refomed Church (Southern Synod ) Trust contributed io The United
Refornied Church Final Salary kheTne, a pension s¢h¢me principally for lay staff which is administered by TPT
Retirement Solutions Trust (ron￿er]Y The Pensions TNst). The scheme is a defined benefit scheme but the Trust is
nable to identify its share of the underlying assets and liabilitie5
each member in the scheme pays a common
contribution rdte.
The most recent fornvdl actuarial review of the scheme was at 30 September 2022, when the scheme had a 5urplu$ of
£1,446,000.
Th¢ schetne was ¢lo5ed to future accrual on 28 February 2023. A new d¢fin¢d contribution schetne has a been set up
and staff have been moved to this scherne.
The total pension contributions made in the year were £68,412 (2022-£80.498)
17 COMMITMENTS
Property
The office fonns part of a propetfy regillered in the name of the United Reforn)ed chU￿h (Southern Synod) Trust
Limited and held on ststutory trusts in favour of East Croydon United Refornied Church. Under an infom)al
agreement. the Trust company pays rent of £18.000 to the local church for the use of the Synod 0￿1¢¢5.
CoDtrlbutlons to the URC Ministers, Pension Scheme
lThe pension scheme tor M￿lSterS, run nationally &s a central tiinction ot" the United Ketom)ed church, has been In
deficit for some years despit¢ s¢veral attempts to r¢501ve the underfunding based on the valuation approach required
of the scheme actuaries. Due to the Strudure of the natTonal church and ministerial appoinM)ents there is no legal
obligation for the Trust but ail of the regional and national bodies have been approached and there is wide
acceptance that ihere is a Tnoral obligation at the synod level and that such 5UPPOrt does fall within the charitable
pUrE￿￿S of the Trust. At the balance sheet date, a cortllnittnent of £1,500,0(X) to be paid by 2024 and this is
included in creditors. A further £3 million has be¢ll offered if a r¢vi¢w in 202415 Indicates it is required and this
would be due in the period 2025 to 20JO. This is not a firni commitment and therefore no provision is included in
the fitwicial statements for this additional sum..
Church Grant Fundlng
The Synod Trusi has agreed a sum of up 10 £55,(KM) as possible fijrther fi￿dIng of a church rebuilding project in
Eastbourne. Thss is s￿/0 of the rnaximum possible shortfall on the proj¢¢t with the remaining 50°/• being guaranteed
by the partner denomination. The Trustees are hopefvl that alternative fvnding will be found and this guarantee will
not be reqllired so no provision has been made in the financial statements.
18 CONTINGENT ASSETS
At the year end, the property of two churches, held on Statutory Trust5 in a¢¢ordan¢e with the United Reforn)ed
Church Acts of 1972. 1981 and 2000 by the company. were held following the chuwh's ¢10sure. Th¢ proceeds will
revert to Synod on the sale in accordance with the Statutory Tnjsis on which the property are held. Professional
advice is being sought prior to disposal.
Page 26

I'he Ilnited Reffjmcd f'hurrh
South¢rD Svn(bd
l.tmited b Gu*runtc
r￿*t Idimitcd
Not¢4 to ¢h¢ Financial Stslements
for the Year Ended 31 De¢¢mber 2023
19 COMPARATIVE ANALYSIS BY FIIND
The key cornpon¢nts from the PriOTyVdr figures are dn8]ysed below by fuTrd..-
2022
Untestricted Funds
G¢￿Tal Purposes
D￿Ignated
Funds
Funds
lic￿rickd
Funds
Totsl
Funds
1￿CoME AND ENDOWMENTS:
Income from Jnvtslmtnts
639,005
475.819
I,JJ6,795
In¢omt from tharitsble artivitirs
tknnation5 and Legacies
Other Inwme
5,865
83,733
72&603
14.597
20,462
86.979
3246
479.065
Totll opeNtln8 ineom¢
36J68
l J44,236
In¢om¢on 5a1¢ of PTOFrties
Lea8e Ptetniums R￿e1ved
Profitl{Lossl Offt 5￿c of propertie5
9.225.IK)O
800,0
111,025.IMJO
Total Income and Ethdowrnent5
6.lJS.727
I J06,169
211,lO3
11,269236
EXPENDJTURE
Ex￿ndItu￿on Charitable Acriviiies
Total oper81iDg txpethditure
222,91
222,911
5.351
5.351
2J44J64
2J44J64
2.116.102
PaymEntto IntLY-Synod
Resource Shtirirtg
35,0
350
Contribution to Itte Ministers,
Pension Fund
Discounting *Jju5tment foi
Tenn Cr¢dilor
83.598
83J98
Purckne of Manses
1235.000
1,235JlOO
Total Expmditurt
2,234,700
1,457911
5JS1
3,697.962
Net Exptthditure on
Operating Account
11,387.4991
256.154
31.217
11,l(M>,1281
lDcofflellExpenditurel
7,71&903
1178,8461
31217
7J7l274
Transfer5 betwttft Fynds
Oth¢r Rttognised GainsllLoBKryl
Nei It￿5￿5￿0￿1nSon Investments
12.516,9841
11,45l.844}
180.7591
14.D49,5871
Nei mo¥tmttht in
5,201 J19
IIffj30ffj901
149J42)
3J21ffj87
Total funds brought foTwaTd
13,596,080
12,657,783
27J75,679
Total fuDds egrried forn#rd
18,797,999
I I￿271)93
lJ172274
30,897J66
Page 27