REGISTERED COMPANY NUMBER: 1529484 (ERgland and Wale$)
REGISTERED CHARITY f4UMBER: 282270
Re
ort of ihe TnJ$ttts and
Financial Statements For The Year Ertded 31 December 2024
for
The Unlted Ref
rrned Church
nod
Trust LiMited
Limited b Guarantee
Southern
Acom

The United Reformed Church
Southern S nod
Acom
Limited b GuarAntte
Trust Lirniied
Contents of the FinAneial Ststements
for the Year Ellded 31 Decernber 2024
Page
Report ofthe Tnths
Ito6
Report of the Independent Auditors
7t09
Statement of Financial Activities
io
Balance Sheet
11 to 12
Statement of Cash Flows
13
Notes to the Financial Statements
14to27

The United Reformed Church
Southern S
Acorn
an
Limlted b Guarantee
Trust Limited
Re
ort of the Truste¢s
ror the Year Ended 31 December 2024
The trustees who are also directors of the charity tor the purposes of the Companies Act 2006, present their report with the
fInancial statements of the charity for the year ended ) l De¢ember 2024. The trustees have adopted the provisions of the
Staievnent of Recommended Practice (SORP)'A¢¢ounting and Reporting by Charities, effective January 2015.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered CoN]p*Ny nurnber
1529484 (England and Wales)
Registered Charity number
282270
RegIS¢¢r￿ office
Synod Offi¢e
East Croydon URC
Addis¢ombe Grove
Croydon
CRO 5LP
Trustees
Ms L Austin
Mr J Denison
Revd B Fidder
Revd R Furley-smith
Mr A Kirby (Chairperson)
Mrs H Mile5
Mr D Walters
Company Se¢retsry
Mrs C Kingdom
Audltors
Thornton Springer LLP
Chartered Accountants
Statutory Auditor
67 Westow Street
London
United Kingdom
SE20 3RW
al Representatives
Veal¢ Wasbrough Vi&vds LLP
Second Floor, 3 Brindl¢)place
Bim)ingham
BI 2JB
Bankers
CAF Bank
25 Kings Hill Avenue, Kings Hill
West Malling, Kent
ME20 4JQ
Pag¢ I

The United Reformed Chureh
Southern S nod
Acom
Limited bv Guarantec
Trust LI￿1ted
ort of the Trustees
for the Year Ended 31 December 2024
PRINCIPAL ACTIVITY & PUBLIC BENEFIT
The Trust is a company limited by guarantee incorporated on 21 November 1980 and is a registered charity number
282270. On 24 November 2010 the trt￿tte$ agreed to change the name of the Trust from The United Refornied Church
(Southem Province) Trust Limited to The United Refomied Church (Southern Synod) Trust Ltmited. This was certified by
Companies House on 8 December 2010.
Its obje¢t is to advan¢e the Christian religion in wcordance with the do¢trine, prin¢ip1¢5 and usages of the Uniled
Reformed Chuicl4 particularly in th¢ South of England. for the benefit of the public. The trustees have given due
onsiderdtion to and follow ihe Chwity Commission's published Kuidance on the Public Benefit requirements.
It has achieved this by continuing to act as Corporate Trustee and Agent for the Southern Synod of The United Refornied
Church by holdin£ properti¢s and a55¢ts and handling income and expenditure.
The SyTJod was set up as part of the fomiation of the United Refomied Church by the United Refomied Acts 1972 pnd
1981.The Southtrn S)nod is the representative of the local churches within Southern Synod united for the PUTpose of
dealtnR with matter5 of wider concern.
One of its main ￿nCtionS is to take action conducive to the propagation of the fjosp¢l at horne and abroaiL the welfare of
the United Reforn)ed Chur¢h, the interests of the Church of Christ as a whole, 2nd the well-being of the community in
whi¢h th¢ Church is base
At the quarterly tmstees, meetings, the trustees awe a broad strdtegy and areas of activity for the Trus¢ including
consideration of any major ￿ant-MakIn& They ensure all activity $UPFN)rts mission and encourage ¢hur¢h extension and
the establishment of new causes.
The day to day administration of grants and the processing of applications prior to consideration by the rel¢vant sul
committee are delegat¢d to the Trust staff. Th¢ Synod Officers have the delegated authority to make decisions on gfdnts
and loans if it is not Possible to wait for the next sub-committee meeting. During 2024 there were 4 Synod Offi¢er5' the
Moderator. the Synod Clerk. the Synod Coun¢il Convenor and the Svnod Treasurer.
New ttustees are sel¢d¢d from within th¢ Synod. They are either Ministers of Religion or people who have otherwise been
involved in the lifr of the Synod. Indu¢tion procedures and training 8r¢ tailored to the previous experien¢e and knowledge
of the new trustees. As necessary, both new and existing trustee5 are reminded of thetr responsibilities and issued with a
copy of the Charity Commission's guide "The Essential Trustee-. What you need to know"
TTaining sessions for all
trustees are also atrdn£¢d where necessary.
The Trust also acts as Corporate Trustee for most ofthe Local United Refornied Chur¢h¢s by holding various properties
and inve51ments on their behalf.
srRUCTURE, GOVERNANCE AND MANAGEMENT
Governing Doeument
The charity is controlled by its go¥¢rning document. a deed of trusL and constitutes a lirnit¢d company, limited by
guarantee, as defined by the Companies Act 2(M)6.
Risk Management
The trustees are working on a revised risk matrix, including detsils of the systems and prts¢¢dures to manage those risks.
They have appointed a small group, of their number. to manage this process and a revised strdtegy document should be
available for review and aT)proval by the TnLStees durin% 2025.
Page 2

The Uknited Reformed Churth Southerll S nod
Limited b Guarantee
Trust Limited
ort of tht Trustee5
for the YeAr Ended 31 December 2024
0￿ECTIVEs AND AcfiviTIES
The objeets of the Trust and the Syn(Ki are to help and support I1￿￿1 churches in their mi$5ion. The mission criteria used are..
is committed to l(K>kin8 for new opportunitie5 for being the church in the geo8raphical area of the Synod
2. is cornmitted to 5UPWrtin8 and ￿SOurC1￿8 the local churches to be faithful followets of Jesus Christ
is committed to caring pastorally for it5 Ioc41 churches, ministers and staty
is committed to supporting and resourcing local churches to prowide relevanL inspiring and engagins worship
is committd to bcing aware of the ¢conornic, w)litical and social context of life in Sollthem En8land 2nd will seek to help
local chur¢h¢s addre55 the implications of th￿ i55ue5 lor their lift and work
is Committed to the propcr care and administration of it5 resource5 through its personnel, fJnance5 and buildinBS
7. is comrnitted to the Wid￿ of church ol'God through the United Rcforrned ChL¢rch nationallyg wumenical relationships and
the world church
. i.s committed to athlressing issu# of justiceg peace and the environment
9. is Committed 10 rc8ularly reviewing its life and rDi5SiOll in light of the aEove criteria always seekin8 the prompting and
guidance of the Holy Spirit
The objective5 forthe year 8rc shaped by the5C Strategtc aims and the Synfyl lfy)ks to achieve them through ￿rtnershiP wth other
chri￿lan institutjon5. local councils and ¢entral governrnent for the benefit of the public.
The TrLLSt cart make capital grants lo local ¢hur¢hes in order to help them make their buildings welcoming and safe for members
of the public and to equip them ￿tt¢r to fulfil their objectives. Thts CAn in¢lude SUp￿rt for extending and improving buildings to
include more ¢otnmunity facilitie5. In 2024, ttventy nine grants were made. There are alsx> 8rants available to support mission
projects and the employment of youth workers. The budget for 2024 included £750,000 for ea¢h panel.
The Trn4 &lso makes grants to various ¢hur¢h organisations whrch Operate within our area. We also supwrt mission work
abroad.
Since 2009 thc principal decision making Ix)dy i5 Syrtod Tosether which meets biannually? usually in MarEh and OctobEr. The
Synod operated through 4 Synod Are&s: London: Kent and E￿¢ Su55eK Surrey and Sussex, and Central Sussex Uniwl Arv4.
SYr￿d Areas normally tneet 2 or 3 times each year. to deal with pastoral marters and provide advice to the Synod on property and
rinance matter
The Trust employs 5 finance, prokxrty and suppcrft staff. in the Synod 0￿Jee, lour of whom are full time. There are now a further
3 field stafy. Trnining and Development O￿lter, Mission Developrnent Officer and Children and Youth Development Officer.
We also meet 50% of the cost5 of a Safeguarding Officer employed by a ntighknuTing synod, who STKnd5 half of her time
working with Southern Synod.
ACHIEVEMENTS AIYD PERFORMANCE
By the nature of the TNst's aims it is diffjcult to have quantitative measures of Ferfonnonce and a¢hievemen4 thwsh we are
¢onfJdeDt that by SUPE￿ing local churches in their mission aims. we are providin8 a public benefit.
Page 3

The United Reformed Chureh
Southern S nod
Aco
anv Limited bv G￿ar￿nte¢
Trust Llmited
Re ort of the Trustees
for the Year Ended 31 December 2024
During 2024 the Trust was able to sell two properties relating lo closed ¢hur¢h buildings whi¢h Contributed £1,469K to
our income figure. The Tn￿t gave gran(s of £932K to improve 29 ehur¢h buildings and of £1,027K to 33 churches to
improve the manse accommodation for their Tnini5ters.
Over £690K was granted from the general and d¢$ignated Funds to churches and other organisations to support their
mission work. A new line of support is helping churches in their online worship.
The Tjust agreed to continue to contribute to Inter Synod R¢50urc¢ Sharing with £IOO,000 being paid in 2024. Churches
within the Synod also contributed substsniial amounts towards the United Reforn)ed Church's Ministy and Mi&8ion Fund.
FINANCIAL REVIEW
Reserves Policy
The Balance sheet on Page 10 indicates the amount in the Unrestri¢ted Fund as at 31 December 2024 was £20.680 m.
When this is adjusted for Endowment Funds, Fixed Assets and programme related invesnnents it is calculated that the
utwestricted fund assets readily available amount to £19.969m.
Although this aTnount5 to more than 10 years of nornMI expenditLf¢ it is re¢ognised that this has accumulated mainly from
the disposal of redundant church buildings and that this income will not ¢ontinue long tern). The Synod Trust does not
rdise ￿ndS and investment income does noi cover the costs of running the Synod Ttvst's nornial activities. The
Unrestricted Get]eral Funds are dependent on the uncertain in¢om¢ arising frorn the disposal of redundani churclL property
to meet the shortfall 2nd cany out all other mission work and support to member churches. From time to time the Tnjst has
to invest in new propety for progrdmme related activitie5 and this requires an above average amount to be kept in reserve.
The trustee5, acting on advice of the Ffftance Committee have agr¢ed to make more money available for mission in the
Southern Synod based on a 10 year rolling budget. This will increase the annual expenditure and gradually reduce the
historie r¢s¢rves without putting the financial stability of the Trust in jeopardy.over £1.6m was awarded in gtant5 alld
loaDS to Iwal thurches in 2024 within this s¢heme.
Investment policy 8Dd objectives
The Trust inves￿ents are held in the ComTnon Investment Funds by independent professional investsnent managers.
These investments aim to balance gyowth and income maximizing total rettjrn. whilst meeting the Ethical Criteria agreed
by the United Refornied Chur¢h. The Trust fijnds can be invested up to 85 % in equities with a minimum of 150/0 in fixed
interest fund5. These rati05 were reviewed in 2018 to ensure they are still appropriate to meei the Synod's cash tlow
requiretnents. The new ratios a￿eed were 60-8￿/￿ in equities, 10-3￿10 in Fixed interest and (￿2￿/¢ in Property Funds.
Page 4

The United Reformed Church
Southern S nod
Acom
Limited b Cuarantee
Trust Limited
R¢
ort of the Trustees
for the Ycar Ended 31 December 2024
FUTURE DEVELOPMENTS
The Thist will ¢ontinue its work in support of lo¢al ¢hurches within the Synod to develop and extend their rnission.
Mini5ter5 Penslon FuDd Deficit:
During 2021 the Trust coniinued discussions with the United Refomied Church regarding a solution lo provide financial
support to the Ministers Pension Fund which was in deficit. Due io the strncture of the national church and ministerial
appoinlments there is no legal obligation for the Trust to provide financial suppo)L but all of the regional and natzonal
bodies were approached and there was wide acceptaDC¢ there was a moral obliyion at the synod level and that such
support does fall within the charitable purposes of the TNst. The Tnjst, together with ihe other twelve synods, agreed to
make contribution5 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 Trnst il made the first payment o(£2,000,000 in December 2021 and the second of £1,500,000
in November 2022. A review in 2024 ascertained that the final payment of £1,5(M),000 vms no longer required.
The Trust will ¢ontinu¢ to participate til these national discussions as required The Tnjsi continues to monitor and review
the position to ensure that any such final ¢omrnitment is affordable and does not put the financial stability of the Trust at
Chureh Life Review:
The Generdl Assembly of the URC 2021 fornially commenced a ￿vIeW of the life of the URC. the Church Life Review
Group, and how it could assisi local ¢hurches. General Assembly 2023 instructed the Group to deliver a set of proposals to
extraordinary session of General Assembly in November 2025. Th¢s¢ proposals were to include the flnancing of a fvnd
to SUPPQrt ils recommendations. The funding will be provided by the I I synods and 2 national synods and is expected fo
provide fvnding over a ien-year period with a Si￿1fiCant review during year five. While precise figures have yet to be
established it is expected that &)uthern Syjod will be a eontributor to the fvnd. The Trust will ensure that any final
Commitment is affordable and does not put the financial stability of the Trust at risk.
FUNDS HELD AS CUSTODIAN FOR OTHERS
The trust holds deposits and investments on behalf of l(Kal churches. As at 31 D¢wnber 2024 these amounted io
bank deposits of £3,791.515 {2023.' £3,206,141) and investments of £2,806,577 (2023: £2,176,823). Such investments are
held in separdte accounts and tnanag¢d by an independent investment monag¢r.
TRUSTEES
The Trnste¢s during the year under review were:
Ms L Austin
Revd B Banks
Mr J Denison
Revd B Fidder
Revd R Furley-smith
MrA KiTby
Mrs H Miles
Mr D Walters
(resigned 30 June 2025)
Page 5

The United Reformed Church
Southern S nod
Aco
Limited b Guarantee
Trust Limited
ort of the Trustees
for the Year Ended 31 Dece
er 2024
STATEMENT OF TRUSTEES RESPONSIBILITIES
The tn]s*es (who are also the director5 of The Untted Refornied Church ISouth¢rn Synod) Trust Limited (A Company
Limited by Guardntee) for the purposes of cornpany law) are responsible for preparing the Report of the Trustee% and the
fmaneial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom
Generally Accepted Accounting Practice).
Company law requires the INstees to prepare fin8n¢ial statements for each financial year whi¢h give a tNe and fair view of
the state of affairs of the charitable cornpany and of the incoming r¢sour¢es and appli￿tIOn of resources, including the
income and expenditure, of the ¢haritabl¢ company for that peri(KL In preparing those financial staiemeni& the tTU5tees
are required to..
select suitable a¢¢ounting policies and then apply them consistenily.
obs¢rv¢ the metho& and principles in the Charity SORP.
make judgernents and estimates that are reasonable and pnJdent'
prepare lh¢ fuJan¢ial statements on the going concern basis unless it is inappn)priate to presume thai the company
will continue in business.
The trustees are ￿sponsIble for keeping proper accounting record5 which disclose with reasonable aocuTrcy al any time
the f]nancial pisition of the charitable company and to ¢twbl¢ them to ensure that the fmancial state￿ents comply with the
Companies Act 2006. They are also responsible for safeguarding the asseis of ihe ch8rithble company and hence for takin8
reasonable steps for the pr¢v¢ntion and detection of fraud a[￿ other irregularities.
In so far as the trnstees atr aware..
there is no relevant audit infomiation of whi¢h the charitable companys auditors are unaware- and
the tswstees have taken all sieps that they ought to have taken to make themselves aware of any relewdnt audit
inforn]ation and to establish that the auditors are awar¢ of thal infornmion.
STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the trust¢¢s are aware. there is no relevant inforniation {as defined by Section 418 of the Companies Act 2006} of
which the charitable company's auditors are unaware, and each trustee ha5 token all the steps thai they ought to have taken
as a trustee in order to make them aware of any audit inf0m￿tIOn and to establish that the charitsble Company's auditors
atE aware of that infornwion.
AUDITORS
Th¢ auditors, Thornton Springer LLP, will be proposed for re-appotntment at the forthcoming Atjnual General Meeting.
This report has been prepared in accordance with the spe¢iai provisions of Part 15 of the Compantes Act 2006 relating to
small ¢ompanies.
ON BEHALF OF THE BOARD..
nison - Trustee
Date..
Page 6

rt ofthe Inde
endeDt Auditors to the Tru5tee5 of
The United Reformed ChtEr¢h
Southern
od
Trusi Limited
Opinion
We have audited the financial statements of The United Refomed Church {Southcrn Synod) Trust Limited (the
'¢haritable company'} for the year ended 31 December 2024 which comprise the Statelnent of Financial Actlvities, the
Balance Sheet and notes to the financial statementy including a summary of significant accounting policies. The
financial reporting framework that has bttn applied in their preparation is applicable law and United Kingdom
Accouniing Standards (United Kingdom Generally Aecepted Accounting Practice).
In our opinion the financial statemertts-.
give a trne and fair view of the state of the charitable company's affairs as at 31 Deeember 2024 and of its incoming
resources and application of resources, including its result, for the year then ended;
have been properly prepared in accoTdance with United Kingdom Generdlly A¢cept¢d Accounting Pwtice. and
hav¢ been prepared in a¢¢ordan¢e with the requirements of the Companies Act 2(K)6.
Basi5 for opinlon
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
fmancial statements section of our report. We Are independent of the charitable company in accordance with the
ethical reqllirements that are relevant to our audit of the f￿an(la] ststements in the UK including the FRC'S Ethical
Sthndar¢ and we have fijlfilled our other ethical responsibilities in accordance with these requirements. We believe
that the audit evidence we have obtained is sutTicient and appropriate to provide a basis for our opinion.
Conclusions relating to going coneern
In auditing the financial statements. we have ¢on¢luded that the tsustees, use of the going concem b&sis of accowiting in
the preparation of the fmancial statements is appropriate.
Based on the work we have perforniel we have not identified any material uncertainties relating to evenis or conditions
thaL individually or collectively, may cast significant dollbt on the charitable company's ability to continue as a going
¢onc¢rn for a period of at l¢ast twelve months from when the financial statements are authorised for issue.
Our r¢5ponsibilities and the responsibilities of the thistees with respect to going concern are described in the relevant
sections of this repon.
Other illforrnation
The trn5tee5 are responsible for the other information. The other inforniation comprises the infomiaiion included in the
Annual Repo¢ oih¢r than the fll)ancial statements and our Report of the tndependent Auditor5 thereon.
Our opinion oll th¢ financial staiemenLq does not Cover the other infomiaiion anl ex¢ept lo the ¢xt¢nt otherwise
explicitly stated in our report, we do not express any fom) of assurance conclusion thereon.
In COt￿eCtion with our audit of the fmancial ststem¢nts. our responsibility is to read the other inforniatioll on(L in doing
so, consider whether the other tnfomiation is m4t¢rially inconsistent with the fmancial staternents or our knowledge
obtained in the audit or othenvise appears to b¢ materially rnisstated. If we identify such material in¢on5iSten¢ies or
apparent Tnaterial misstatements, we ar¢ r¢quired to detemiine whether this giY¢s rise to a Tnalerial misstatement in the
rmancial statetncnts themselves. If, based on the work we have perfomied, w¢ ¢on¢lude that there i5 a material
misstatement of thi5 Other inforniation, w¢ are reqU￿¢d to report that faci. W¢ have nothing to report in this regard.
M*tter$ on which we are required to report by exeeptlon
We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations
2008 requires us to report to you if, in our opinion..
the inforniation given in the Report of the Tnjstees is inconsistent in any Material respe¢t with th¢ financial
statements. or
the charitable ¢ornpany has not kept adeqwdie a¢counting records- or
the financial ststements are not in agre¢￿ent with the accounting records and returns- or
we have not received all the infotrnation and explanations we requir¢ for our audit.
Page 7

ort of the Inde
ndtnt Auditors to the Trustees of
The UTrited Reformed Church
Southern
Trust Lilllited
Respomsibilitles of trustees
As explained more fully in the Statement of Trustees, Responsibilities, the trustees (who are also the directors of the
charitable company for the pllrp05es of company law) are responsible for the prepardtion of the financial sratements and
for being satisfied that they give a twe and fair view, and for such internal control as the trustees determine is ne¢e5sary
to et]able the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the finan¢ial statements, the trustees are responsible for assessing the charitable company's ability to
coDtinue as a going ¢oncern, disclosing, as applicable, matters related to going concern and using the going ¢on¢em
basis of accounting unless the tn￿lee$ either intend to liquidate the charitable company or to cease operdtions. or have
o realistic altemative but to do so.
Our respon$ibilities for the audit of the financial statement$
We have been ap￿inted as auditors under Seciion 144 of the Charities Act 2011 and report in a¢cordance with the A¢t
and relevant regulations made or having effect thereunder.
Our obJ￿tIveS are to obtain reasonable assurance about whether the financial statements as a whole are fr¢¢ from
Tnaterial misstatemtht, 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, but is not a guarantee that an audit conducted in
accordance with ISAS IUK) will always detect a rnaterial mi5Statement when it exists. MisstatemeDts can arise from
fraud or eTror and are considered material if, individually tsr in the aggregate, they could reasonably be exp¢ct¢d to
influence the economic deeisions of users taken on the basis of these financial ststements.
Th¢ ¢xt¢nt to which our pro¢edures are capable of detecting irregularitie5, including fraud is detailed below:
IrregulOTities. including fr￿d, are instances of non-complianee with laws and regulations. We design procedure5 in line
with our responsibilities. outlined above, to detect material misstatements in respect of itTegularittes. including fraud.
The extent to which our procedures are capable of detecting irregularities, including frau(L is detailed below.
Based on our understanding of the charity and th¢ industy in which it operaies, we identifIed that the principal risks of
non-compliance with relevant laws and regulations. Non-compliance with these laws and r¢gulation5 might have a
]naterial effect on the fmancial ststements.
We evaluated management'5 in¢entives and oppotwnity for fraudulent manipulation of the financial statement
(including the risk of ovettid¢ of contro15) and detemined that the principal risks were posting of unusual journal
entrie5 outside the norn)al ¢ours¢ of business and revenue Tecognition joumal entries to manipulate the charity's
perfoTmaD¢¢ measures and obje¢tiv¢s.
Audii procedures F¢rfornied includ¢d'. r¢vi¢w of the fmancial statelnents and disclosures to underlying supporting
documentation, review of complian¢¢ with the laws and regulations, enquiries with managemenL testing of journals and
evaluating whether there was ¢vid¢n¢e of bias by the tn￿tres that represented a risk of material misstatement due to
fraud.
Under ISA 240 (UK) there is 4 Presumed risk that revenue Enay be misstated due to the imprO￿r recognition of
revenue. To address thts risk. we obtained an understanding of the charity's revenue recO￿)it10n policies and Compared
these to the accounting standar¢L records. processe$ and reports revenue trdnsactions. We tesied a sample of revenue
transactions to supporting eyidence and tested, on a sample basis, revenue related balanees in the balance sheet.
There are inherent limitations in the audit pro¢¢dures described above and the further removed non-cornpliance with
laws and regulations is from events and transactions reflected in the financial statements, the less likely we would
become awar¢ of IL Also. the risk of not detKting a material misstatelnent due to fraud is higher than the risk of noi
detecting on¢ resulting from error, as fraud may involve delibeT2te concealment by. for example, forgery or intentional
misrepresentations. or through Collusion.
A further description of our responsibilities for the audit of the financial statements is located on the Financial
Reporting Council's website at www.frc.org.uklauditorsresponsibilities. This description forn)s part of our Report of the
Indep¢nd¢nt Auditors.
Page 8

ort of the lThde
endent Auditors to the Trustees or
The Utbited Reformed Churcb
Stsllther
nod
Trust Limiied
Use of our report
This report l5 rnade solely to the charitable compBny's trustees, as a body, in a¢¢ordan¢e with Part 4 of th¢ Charities
(Accounts and Reports) Regulatiolls 2008. Our audit work has been undertaken so that we mighi state to ihe charitable
company's trustees those matters we are required to state to them in an auditors, report and for no other purpose. To the
fullest exient permitted by law, we do not accept or assume responsibility to anyone ffjh¢r than the ¢haritable company
and the charitable company's trustees as a body, for our audit work. for this report, or for the opinions we have fornjed.
for and on behalf
Chartered Account
Statutory Auditor
Eligible to act as an auditor in tem15 of Section 1212 of the Companies Act 2006
67 Westow Street
London
United Kingdom
SE193RW
n Springer LLP
Page 9

eformod
nv l.iniilcd bi. Guaran¢
.4 Com
dEx
l Dtttmhet 2024
reMrkt¢d FuTrd5
CtTreral P￿rpOseS
Designthied
Futhd$
31.1124
Re5tri¢t¢d
FuDds
Total
Funds
Fulld5
INCOME AND ENDOWMEYTS:
JDeorrtt froth Investments
2a
702,142
46.429
125•.O86
,153,467
1￿Con1t from ¢h&riiible *¢tivitie¥
Donali0Tr5 and LegAcie5
Oth¢r InLyJme
49.983
,583,425
lJ355
12.452
20,084
4,133
66J68
1,603509
19Jb,16J
34.822
387.018
IJ75J07
Totil op¢ratiog l*eornt
534051
SOJ62
Ip¢om¢ on Sale of prOpert￿S
ProfiV(Losslw sal¢ of prowties
1.468.519
119.065
2.5￿,0(K}
270279
4058J89
389J44
.718.750
72.620
3,923,204
3J94J3
SOJ62
7 368.096
3.366.677
EXPENDITIJRE
ExpcDditure on Ch8ritabl¢Athivities 2b
TOMI operadDK eipejtditsre
zb
2.333.407
2.333.407
8,934
3J64,4S2
3J64,452
3.420.209
3.420209
8,934
P*ytnentto Inler-synod
kesource SlJarin8
Cwtri￿tlOt7 to the Miniylers.
Pcnsion Fllnd
50.000
Di5￿unting adju5tm¢nt forLong
T¢rm CT¢ditor
04281
Purch&sc of Mans¢s
.377,737
lJ77,737
752,5
Total Espe•dlMre
2O33h•7
2J99
48
&934
5W2.189
4 286.990
Net Expenditllre 00
Ib
1143
1686060
41ffj28
1641289
11,W,9Y)21
Ntt 1#tO￿t[{ExPendIrnye1
1.489.797
794.482
41th28
2J24.907
1920.3131
Transfrrs bttween F4Ids
Otbtt Re¢oEnbed Gglll¥lLoswl
NetlLoss¢syGains on Investments
1,141,444
514.951
30202
1fv86J97
1341
I￿￿,433
71J30
218,487
Tml fund$ broughtforw8rd
Totsi ¢•rrttd forw8rd
18.048,629
11.948.949
30.897.3
20,679370
l J2ThgJ87
JS 128J57
l Inco￿ and &yenditiJre deriv¢ from wn11￿U1ng acThiie5.
notes fomi partof the￿ fi￿a￿claI slatcrnents
PaE¢ 10

The United ReforThed Church
Souihern S nod
Acom
aNv Limited bv Guarantee
Bal4nc¢ Sheet
At 31 December 2024
Trus¢ Li
it¢d
Unrestricted
Gemer*l Puryoses
Funds
31.12.24
To¢#1
Funds
31.12.23
Total
Funds
Designated
Fufftd$
Restricted
FuDds
Notes
FIXED ASSETS
Tangible a5￿t5
Investments
s¢¢i￿ Investments
181,363
18,526,909
69,202
18,777,474
181 J63
29,068,526
69,202
29J19,091
282.537
27.541,606
544.179
28.368,322
10
10,067,034
474.583
lo.(￿7,034
474.583
CURRENT ASSETS
Debtors.. amounts fallin8 due
within one year
12
Cash at bank and in hand
153,689
3,837,245
3.990.934
1,615
3,310,833
3,312,448
155,304
7,863000
8,018,904
114,682
6,593,743
6.708,425
715.522
715,522
CREDITORS
Amount5 falling due within
one year
13
NET CURRENT ASSETS
I(LIABILITIESI
2 088,538
1.902,396
121.1001
3.191.348
{2209,638
5,809.266
13.960,894
2,747,53 1
?l5.522
TOTAL ASSETS LESS
CURRENT LIABILITIES
20,679.870
13,258.382
1,190.105
35,128J57
31.115.853
NET ASSETS
14
20.679,870
13258,382
1,190.105
35,128,357
31,115,853
FUIYDS
General Purws
Designated
Restricted
TOTAL FUNDS
20ffj7907
13,258J82
1,190,105
3.1.l28.357
18,048,629
11,948,949
1.118.275
31,115,853
14
The noies fomi of these f)nan¢ial statements
Pagell

Tbe United Reformed Church
Southern S nod
Acom
Limited bv Guarantee
Balanc¢ She¢t- continued
At 31 December 2024
Trust Limit
The charitable company is entitled to exemptlOD from audii under Section 477 of the Companies Act 2006 for the year
ended 31 December 2024 and the members have noi deposited notice. pursuant to Section 476 of the Companies Act
2006 requiring an audit of these financial staiements.
These financial statements have been audited under the requiremenis of Section 144 of the Charities Act 2011.
The tNstee5 acknowledg¢ ih¢ir responsibilities for
(a)
ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the
Companies Act 2006 and
preparing financial statements which give a true and fair view of the state of affairs of the charitable company a5
at the end of each fmancial year at]d of its surplus or deficit for each financial year in accordance with the
requirements of Sections 394 and 395 and which othenvise comply with the requiremerjts of the Cornpanies Act
2006 relating to financial statements, so far as applicable to the charitable company.
(b)
These fU￿nCIal statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act
2006 relating to small charitable companies and with the Financial Reporting Standard 102.
The f￿ancial statements were approved by the Board of Tnjstees on ....... ...
behalf by".
and were signed on its
nison - Trustee
Page 12

The I nittd Reformtd Church Southtrn S nod
l.inpited b
Stattment of Cash Flows
Ycxr Ettded 31 Dettrnber ZD24
-rru8t Limited
Note
2024
2023
C*sh tlow from tsper#ting a¢tivities:
Net tash providtdlu5¢d in op¢rating activities
Cash ITow$ from lttvesting activities:
Dividends and inierell frotn inve5tsnents
Purc￿¢ of fL¥ed &s*ts
Protteds from the sale of fjxed ￿Sets
Purthase of inv¢5tm¢nts
Issuc of ProgramJn¢ Related tAJans
Rep&yment of Programm¢ Related Logns
Pioce&ls fri>m the Sak of inV￿tU￿nts
Net t&sh provided by/us¢d ID investing a¢tivities
19779221
,125567
($11171
492.665
ISJ44 J191
133,9361
508913
S703,996
2,247,779
,049.374
13.248)
91.980
(19,301.442)
148I,207}
32.904
19,277.198
665.499
Change in cash arld tajh equiv*knts in th¢ reporting p¢Yiod
1.269157
1461.8921
CA$h And taih equffivgltrtts ai ih¢ b¢gioning of the reporting period
6J93.743
7,055.635
C•sh 2nd f¥sh equivalents 81 the ettd of the reportsD¥ p¢riod
7WffjOO
6,593.743
Notss to the 5t*temethtof eash fltsw$
1,269.857
(461.892)
Rt¢on¢iliation of net ioeomelexp¢Dditutt to netwh
flow from operating ¥¢tiviti1s
Iyet incomd¢xp¢nditure for tht ttportin8 period {as PEr
the st*itmtTht of fiD*n¢i#l actiwitiu)
4,012.S04
218.487
Adju¥lm¢nts for.
DepTeciation charges
IG8ins)nosses on irtvestsn¢nts
Divid¢nds and interest from investments
Los4lptofitl on the5￿¢Off1xed &ssets
Decre85el(intre￿j in d¢btors
tncrea8t/Idecre￿} in cjeditors
Ne¢ Cash provided by operating *ctivitl¢$
2.960
11ffj86397)
11.125J67)
1389J44)
140ffj22)
751256
977922
2,985
11.138:8(K)I
11,049,374)
1711901
138,51ll
950012
1 127391
Analys￿ of ¢agh and cash equiv¥l¢nts
C&%h at bank and in hand
6 593 743
Page 13

The United Reforrned Church
Southern S nod
Acom
Limited b Guarantee
Trust Limited
Notes to the Finaneial Statements
for the Year Ended 31 December 2024
I ACCOUNTING POLICIES
General Informstion
The United Reforn)ed Church Isouthem Synod) TTUSt Limited is a charitable company, limited by guarantee and is
registered in England and Wales. The charitable company's registered number and registered office address can be
found on th¢ Company Information page.
Accounting convention
The charity constitutes a public benefit entity as defined by FRS102. The f￿ancial statements have been prepared
under the historical c05t convention, with the exeeption of investments which are included at fair value, and in
accordance with the Financial Reporting Standard 102, the Charities Staternent of iiecommended Practice (FRS102),
the Companies Act 2006 and the ChoriÉi¢s A¢1 2011.
The financial statements are presented in sterling which is the ￿nCtIonal currency of the charity and rounded to the
nearest pound.
Going coneerD basls
The financial statements have been prepared on a going ¢on¢ern basis. The directors have ¢onsider¢d budgets. cash
flows and the impact of subsequent events, including that of COVID19. Whilst the econorni¢ shutdown in respons¢
to COVID 19 has had a significant impact on the charl￿5 op¢ralion& the directors are satisfied that the charity bas
suffi¢ient ayailable resources, ix&th in iernis of cash and investh]ents that can be converted to cash, such that there is
no material uncertainty and the going concern basis of preparing th¢ fu￿1¢1&1 stat¢m¢nts continues to be appropriate.
Funds Included
The fmancial stat¢ments show the combined income, expenditure. &%sets and liabilities of ihe following funds which
are adtllini5tered for th¢ b¢n¢fit of the United Refornied Church within th¢ South¢m Synod :_
General Purposes Furtd
Manse Fund
Synod Mission Fund
Alfriston Mission Project
Funds held for uniting ehurehes
Church Buildings Fund
Retired Ministers Housing Fund
Welfare Fund
Miltott Hall Fund
Woolwich Fund
Funds administered on behalf of local churches are not includEd.
DescriptlDll and Use of Funds
Restricted in¢om¢ fi￿dS are funds whose use is restricted to specific pu￿Se$ ac¢ording to the ternjs on which the
fiinds were received. Endowment fijnds are pertllanent endowm¢nts which are required to be retained, but the income
from these funds Can be used for th¢ benefit of the charity. subject in certain cases to specific restrictions contained in
the original endowment.
Page 14

The Unlted Reformed Church
Southern S nod
A Cona
Limited b Gu8rantee
Trust Lirnited
att
Notes to the Financial Ststements
for the Year Ended 31 December 2024
ACCOUNTING POLICIES (continued)
Unrestricted in¢ome fi￿dS may be spent generdlly for firthertng the Christian and charitable work of the United
Refomjed Church in the Southem Synod. The main fund in this category is the General Purposes Fund. Certain
nds have been allocated for Manses. although the Synod rethins authority to r¢-allocate such fi￿dS and so they are
eated as Desi￿ated Funds within Unrestrided Income Funds. There are also three other smaller designated ￿ndS
arising from the sale of r¢duDdant chuTth buildings.
The General Purpos¢s Fund is th¢ main fund of the charity and is an unrestricted fund. It is made up of both General
PurFrfJses and Church Aid. the initial fund set up after the URC came into force and General Purposes Fund coming
from th¢ apportionment scheme in respect of the London Congregational Union.
The Manse Fund is a Designaled Fund which came into being in 1996 by approval of the S￿0d. The Synod Mission
Fund and Funds held for uniting churches have arisen from the sale of a church building in 2012 following an unitsng
of two ¢xisting churches. The united church can apply to the latter fimd for a project to develop and further th¢ir
mission whereas the Simod Mission Fund is Available to all ehurches within the Synod for similar projects. The
Alfriston Mission Project is a fund arising th¢ sal¢ of a churrh hall in Alfriston which has b¢en d¢signated to
develop in the mission activities and community faeilili¢s of ihe former Alfriston URC building.
Restricted Fund5
The Church Building fund came frotn the apportignm¢nt 5¢heme in respect of the London Congregational Union.
(LCU) Its funds can only b¢ us¢d for th¢ upkeep, repair, improvement extension, provision and erection of church
buildings.
The Retired Minisiers Housing fvnds both have a house for a retired mini￿er. They operate in Kent and Sussex.
The Welfare fund came from the LCU. Its purpose is relieving, in cases of need, ministets, members of churches and
retired ministers.
Th¢ Milton Hall fund can be used for general purposes but only within the inner London Boroughs South of the
Rtver Thames.
The Woolwich ￿nd is for work in the LondoT] Borough of Greenwich.
Colltribution to PeDsion Funds
The charity operates a defmed benefit scheme, The Pensions Trust D¢fin¢d Benefit Scheme, whi¢h is a multi
eTnployer scheme where the underlying asseis and liabilitie5 are not s¢p8rately identifiable. In accordance wtth th¢
Financial Reporting Standards, it 15 a¢¢ount¢d for as a defined contribution %heme. Contributions are charged a5
expenditure as they beetslne payable in accordance with the rules of the scheme.
Income
All incoming resources are Included in the ststement of financial activities when there is sufficient certainty that th¢
receipt of income is COTJsider¢d pn)bable and the amount can be quantified with reasonable accuracy. The following
specific policies are applied to particular categories of income..
Voluntary income is received by way of grants, donations and gifts and is included in full in the Statemeni of
financial activities when receivable.
Page 15

Tht United Reformed Church
Southern S nod
Aco
Limited b Guarantee
Trust Llmited
Notes to the Finanei41 Statements
ror the Year Ended 31 December 2024
I ACCOUNTING POLICIES (continued)
Expenditure
All expenditure 15 accounted for on an accruals basis and ha5 been classified under headiMgs that aggregate all costs
related to the category. The Synod is not registered for VAT so all irrecoverdble VAT is charged with the related
cost
All ¢osts are treated by the finance committee as relating to th¢ unrestrided fiind unless there 1$ a specific
requtrement on the individu41 filnds.
Indiyidual Church Property, Ineludlng Pastoral M*n$es
These assets ar¢ not shown in the financial statements as they are rtot the exclusive property of the Synod. Sale
proceeds from redundant properties or from part thereof are treated as unrestri¢ted in¢ome for general funds and not
shown until received.
Non-p&%tordl manses. which are used for Synod related activitie5 are included in the Balance Sheet at COSt, subjert to
an impairm¢nt r¢view and any deficits ar¢ ac¢ounted for in th¢ Statem¢nt of Financial Activities on properties
marketed for sale.
Jointly Owned Property
Property owned with The URC Retired Ministers Housing Society Limited is held under the temis of an agreement
with the Society whereby the Charity receives no income from the property but contributes towards the cost of
maintetwice and repair of the property. The property is tncluded in the Balance Sheet at cost.
Cu8todlAn Trusteeship
Ass¢ts held by the charity as custodian trustee are not shown in th¢ f￿ancial statements. The details of those funds
are included in the T￿stee9, a]Trnu&l report.
Depreclatlo
Depreciatioll is provided on all tangible fixed assets, apart froln property, at rates calwtated to write off the cost on a
straight line basis over their estimated useful economic lives as follows.'-
Fixtures, Fitting5 & Equipment- over four years
Computer Equip]nent-ov¢r tlwee years
Motor Vehicles-over four years
No amounts under £IIKI are capitaii5¢d.
The trnstees recognise that the cost of buildings used as fimctional assets have a fJnit¢ life and, in the normaI course
of events, would be depreciated to their expected residual value. However, those properties that fall into thi5 calegory
are l(xated in an area of the courttry where that part of the cost that is attributable to land, which does not depreciate,
is significantly higher than in other parts of the country. Furtherniore. the Charity has a ￿lIcY of maintaining its
properties to a high level, which extends the life of ihe assets beyond their nornydl expected lives. Taking these
fadors into account the trnstees consider that any depr¢oiation on the buildings would consequently be imrnaterial
and depreciation is not therefore charged.
Opernting Leases
Rentals paid under opetxting lease5 are charged to the Statement of Financial Activities as incurred.
Pa8¢ 10

The United Reformed Churth
Southern S nod
Acom
Limited b Guarantee
Trust Lirnited
Notes to the Financial Statements
for the Ye8r Ended 31 December 2024
I ACCOUNTING POLICIES (continued)
Grants
Grants payable to local churches, organisations and individuals are charged in the year of approval. The value of
grant5 approve¢l but still to ￿ paid 15 included in the balanc¢ sheet Is a current liability.
Investments
Investments are staled at fair value at the balance sheet date. The Sthi¢ment of Financial Activities includes the net
gains and losses arising on revaluations and disposals rhroughout the year.
Support Indirwt Costs
Support expenditure ha5 been allocated directly to the relevarti activity Cost category.
Indirect costs which include premises and office costs have been allocated on the basis of each adivity costs as a
proportion of the toial direct costs, shown in note 3.
FiThanel*l lllstrnments
Th¢ tharity only has fJnaD¢ial ass¢¢s arjd financial li4biliti¢s of the kind that qualify as basic financial instruTnents.
Basi¢ finw¢i&l instruments are initially recognised at transa¢tion value and subsequently measured at their settlement
value.
JudgetneNts key Sources ofe5tirnation uncertgiNty
In the application of the company's accounting policies. the tn]stees aTe required to make judgements, estimates
and &%sumptions about the caTrytng amount of assets and liabilrties that are not readily apparent frotn other
sources. Th¢ ¢5timates and associated assumptions aT¢ bwd on historical experience and other factOT5 thai are
considered to be releyant. Actrjal resulis may differ from these estimate5.
In the opinion of the tnjstees, there are no special d1sc1osL￿eS required in reS￿ct of judgements and esiimation
uncertainty.
Page 17

Tht Ilnited Reformtd Church
Stsuthern Sitt(
Acum
anv Limit¢d bw CFuara*tce
'rru$t Lirnitstl
Notts to the Finantl&l Ststemert¢$
for the Year Ended 31 December 2024
2 INCOME AND EXPENDITURE
g) Analysis of Total lrt¢ome
Unr¢stri¢id Funds
General Purwses
Designated
Fut
Funds
31.1124
Tot81
Fuods
31.12.23
Tor
Funds
Restric*d
Funds
Ineome Crom gtnerst¢d fyndj
Rents Rettived
tnvestrnent income-li$ted inv¢stswit$
Interest
14,565
499.932
187.645
702.142
109,954
303,186
88.375
501.515
124,519
814,978
310.589
lJfO.U86
104,093
798,284
251,090
,153,467
11.860
34.569
46.4?9
Income from eh8ritAble #ttivitits
Donations and Legacies
tlonations
L¢g#ci¢s
Monies from cio$¢d church¢s
Quinquennial contribution received
667
667
12,452
49,983
3A66
66&8
668
29,508
756
3.890
34,822
12.452
49,983
3,466
4.133
49,983
12.452
Other ittcome
InsUrdn￿ Clain
Trnining LY)urs¢ contributlons
Coniributitin towards legal Costs
Pension Coniributions no longerrequii
GTHntS aW8rded no longer required
20,084
20J184
lJ97
3250
IA34A86
144.292
lJ8J,42
.397
3,250
1.434,486
144,292
1,583.425
525
1750
383.743
387.018
20,084
Totsl operating
2J35550
534051
50,562
29(Ml.O79
1,575,307
InL¥Jme on s81e of properties
-of closed churches
of $UTplus myn
1.468.589
1.468J89
2O90,1)00
4,058,589
103,750
.615,000
1.718.750
2,590,000
2,590,000
1.468.589
PmfJVItAss) on saleof fLx&I t$￿..
-oih¢r pro￿rtY
119.065
119.065
270279
270279
389J44
389J44
72.620
72.620
Tolal income
Jg23204
3J94JJO
50J62
7J48,1112
3 366 677
Page 18

Tbe United Reformed Churfh
Souther
Acom
anv Limited b Cugraniee
nod
Trust Limited
f4otes to the Flnan¢lil Stat¢m¢nts
ror the Year EDded 31 D¢¢¢mber 2024
2 INCOME AND EXPENDITURE {continuedl
bl Allitysis of Totsl Expenditure
Unre51rict¢d Funds
Gen¢Tai Purp)s¢s
Designat¢d
Funds
Funds
31.1124
Totsl
Fund$
31.12.23
Total
Funds
R¢stricted
Funds
Expenditure on Charitable Activi¢i¢s
Mini5*ry & Mission:.
Mission Officer
Eeumenieal Offieer
Grants Inote 41
Shared indire¢i ¢osts (note 31
1.261
3,861
6W,310
68.104
763.536
44.156
1,486
782,779
56.778
885.199
3,861
691,625
68,104
704851
,315
Training.-
Training of Mioist¢rs & Lay
pr￿cherS l]wi¢ 41
Students {not¢ 41
Training & Developrtlent Officer
Children's & Youth Development Offjeer
Safeguarding Offjcer
Other trainin8 Costs
Shared indirect costs Inotr 31
I6,￿$
1,357
25,723
60,203
31,983
5,741
14,446
156.380
16925
I JS7
2S723
60203
31.985
5.741
14.446
156J80
17.139
1.250
58,145
55,809
28,372
7,739
12.420
180.874
Property:"
Church building grdnts IMt¢ 41
Manse Grants Inot¢ 41
Mans¢ ExrKnses
Quinquennial Costs
Ext*nses on Sale & Purch￿¢ of Propcty
Other property costs
Staff ¢osts
Shared indired w5t5 IrK>t¢ 3)
928,165
4,076
1,027,232
71,901
932,241
1.027,232
71.901
20.073
80,762
18,446
100,686
I￿252
$6J93
1.266.380
530.059
38,226
20,801
46,105
38,467
94,783
15.550
25,355
18,446
ILXJ,686
105,252
1,193,454
4.523
55,407
1.158.616
4.523
2.132.408
Page 19

The Ilnited Reformed Chur¢h
Southern S nod
Acom
Limited b Guarantee
Trust Limited
Notes to the Finantial Statements
for the Year Ended 31 Deternber 2024
2 INCOME AND EXPENDITURE {tontinued)
b) Analysij of Total Expenditure
Unr¢stricted Fund5
General Purposes
DeSI￿ated
Funds
Funds
31.12.24
Total
Fumd$
31.12.23
Total
Funds
Restricted
Fund5
Governance:.
Synod Together Medin&s
s￿0d Cornmitttts
Honoraria Syn(NJ Treasurer
Synod OIYi¢ers' pay and expenses
Legal Costs
Audit Fees
Investment tnanagement eosts
Shared indirect C05t5 (note 3)
2,698
3,(h58
2,￿0
64,621
2,698
2,810
2,127
I,OIM)
16,648
17.839
11,350
159,209
10.646
221,729
6.676
676
io.wjo
17&1111
18574
2￿628
10,890
118.186
18,574
220,037
56,819
3,096
63,495
Total exPe￿dI￿re on charitable activitty 2J33.407
1222.111
8.934
3564,452
3.42113lJ9
Net txpellditure uperatlng 4ctount
2.143
1688,060)
41.628
664J73
1.844,902
Po8¢ 20

The United Reforrned Church
Southern S nod
Acom
Limited b Guurantee
Trust Limited
Note5 to the Finaneial Stattments
for the Year Ended 31 December 2024
3 INDIREcf COSTS
Unrestricted Funds
General Purposes DesigDated
Fund5
Funds
31.12.24
Total
Fund$
31.12.23
Toral
Fund5
Restrict¢d
Funds
Premises Co$ts:_
Synod Tent & Hire of Rooms
Repairs And Maintenance
Synod Electricity
Insurdnce
Cleaning
18,360
4,938
{870)
8,507
1.045
31,980
18.360
4,938
(870)
8,507
,04S
31.980
18,870
366
1,500
8,206
943
29,885
Office Costs:.
Synod Employment Costs
Car & TTavel Expenses
Miscellaneous
Depreciation
Loss on Disposal of Fixed Assets
Telephone
Stationery and Publications
Postage
Photocopier-LeLs¢ and Meter
Equipm¢nt and Consumable Costs
Advertisitjg
IT and W¢b5ile
Catering
138,997
2,938
3.653
2.960
138,997
2.938
3,653
2,960
113.92)
3.0?9
2,984
2.985
4iO
5.187
1,086
1.044
1.029
10.364
9,994
1,500
945
1,039
6,306
430
5.148
486
174,396
9,994
1.500
945
1,039
6J06
430
5,148
4,892
174J96
147.545
Total Indirect Costs
206J76
206,376
177.430
Totsl
Ministy &
Mission
Trnining
Property
Goyemance
Total Indire¢t Costs
206,370
68,1(
14,446
105.252
18.574
o of Direct Costs
IOOYO
3311/0
7Yo
9•A
Page 21

Thè Ilnile.d R*!tirmyl Church Southern Svnod) Trust Limited
Acom
Ltmited b Guarante¢
Notes to the Financi21 Statements
for the Year Ended 31 D¢ceTnber 2024
4 GRANTS
The following grants have been charged irt Sjtherance of the charitable objects during the year.'-
Instltutions
Number
Amount
Individuals
Nujnber
Amount
Ministty and Mi5SLOn'.
Other mis$ion projects
Ecumenical situations
Local Church Missions
Youth & Children's Work
Welfare Grants
8,722
2.953
503,635
175,0(M)
24
1,315
690JIO
Trdining:
Ministers & lay preachers
Studen
32
10,800
1,250
18,050
37
Property..
L¢xal Churches
Mat￿9
29
33
62
932,241
1,027,232
1,959,473
Total Grants Charged
95
2,649,783
39
19J65
5 EMPLOYMENT EMOLUMENrs
31.12.24
31.12.23
Wages & sataries
Employers national Tn$ur4nce
Pension cost5
274,267
32546
69,109
266,478
31,949
68,412
366,839
The average number of employees during the year w&$ as follows:
Ministy & Mission
Training
Property
Athniniytration
No ¢rnployee received £60,000 per annum or more. All employee related Costs ar¢ paid from unrestricted funds
Page 22

The Uthlltd Keformod Cburth
Corn
STrylhern Svnod Trust Llmll
Nvtt5 to the Financial StAtements
for the Year Ettdod 31 Dc¢crnbtT 2024
O TRUStEES' REMUNERATION AIND BENEFITS
The following honorArium, which 15 included InTrusrees was paid to atrusEee durin8 theyear. in
tsccordarKe th¢ 8overnin8Q¢¢umenl snd approved bythe Charity C0rnrn155ion'.-
31.1124
Mrj D￿LSon{s￿nOd Tre4swerl
i.o(x)
DuiinÈth¢ye&r fiv¢trustees12023..fiv¢l w¢reTeimburse4 othofpo¢ket¢xpeTL5¢5mBillly fortelEthone costs and travElling
totallin8£70312023". £1.1091 Onetru51ee12023' none) was also paid Atotal of£2612023.. £0) relalin8 to their
Frf>siiions&s stipendiary minist¢T5, C4)tnPri5in8traiNins grants and reimt￿Semenf0rmin1st¢ri￿ exp¢ns¢s
7 CAINSI(LOSSESI ON INVLSTMENTS
31.12.24
31.12.23
Re81i%d 881n￿(lO$s¢s} on investrnentssold
Less.. GaIn￿(lOSS￿l pr¢viou3ly rwnised In Eccountl
Nei gaingl105sesl in ￿ron investmtht$xTrld
Unr¢dis￿ g81nsIII(w¢51 on invethents forthe year
Nwgainslllossesl on InYesDn¢nts foTth¢ Ye4T
137JlOI
198.139
160,799
1525.798
1th86J97
970,014
802.004
336.799
8 MOVEMETrrr IN FUNDS
Bal￿
0101.24
IrKom¢
ExPe￿J1￿re
Trar6fer5 Gainslllossesl B•lan¢e
betwttn FuTrJsin Invwtrnents
31.12.24
Fund..-
G¢nwJl Purp05e5
Unrestricted
Endowmeni
17,614.852
433.T77
3,923204 ￿453.407)
1,114.4W 20,219,148
26945
Desi¥mated
11.622.857
3.394.330 12J95,7ni
514,951
12,936J66
Alfnston M15510n Project D¢$i8natrd
170.538
14.0761
166862
Synod Mission Fund
24,444
24844
Fund held for Uniting
D¢31wthd
Church Buildin8
Restricted
Endowment
857
7.913
3.712
(45341
35
8098
WelfaT¢
Restricted
Endowment
29,894
l J73
2.042
20
31994
2,)21
R¢tTr¢d Mini&tcrs'
Ho￿$]￿g
338.575
177.(
26,1￿)
3￿782
I77,￿0
Endownem
Milton Hall
130.484
216,461
11,422
(1.9661
6.033
10.413
14&973
226874
Ertdowment
Woolwieh
214.990
7.665
18291
11,492
233J18
7.368.096 15.042.189)
1.686.597 35.128J37
PAge 23

The United Reformed Cbknreh
Sguthern S nod
Acom
Limited b GU￿rAntee
Trust Llmlted
Notes to the Financial St&temtTht$
for the Year Ended 31 D¢cemb¢r 2024
9 TANGIBLE FIXED A&5ETS
Fixtures,
Property
Equipment
Totals
COST
At l January 2024
Additions in year
Disposa15 in year
280,196
28.692
5,107
(2,204)
308,888
5,107
{105#25)
(103,321)
Ai 31 D¢cember 2024
176,875
31.595
208A70
DEPRECIATION
At l January 2024
ChaTge for period
EliMin￿ed for disposals
26,351
2,960
(2.204)
26JSI
2,960
(2204)
At 31 Decemb¢r 2024
27,107
27,107
NET BOOK VALUE
Ai 31 December 2024
176,87S
4,488
181 J63
At 31 December 2023
280,196
2,341
282537
10 FIXED A&SET LISTED INVESTMENTS
irNRESTRICTED FUNDS
Fixed Interest
UK
Securities
RESTRICTED FUNDS
Fixed Interest
UK
Equities Fund Securities
Equities Fund
TOTALS
A5 at l January 2024
Purchases
Sales
N¢t gatn51(losses) fair value
4.018.492 22,886.371
4.772.123
676,610
(2,611,251) (2,913,702)
102,151
1,600,766
6,077213 22250,045
268,286
6J45,499 22,250.045
64.521
84,321
(44,013)
(2.000)
102,829
4.749
107,578
379.318
27,34&702
11.265
5,544?19
(54,364) (5,623J30}
29.185
1.525.800
365,404
28,79S,491
273,035
365,404 29,1J68,526
Cash h¢ld for Investment
Fair Value at 31 December 2024
Cost at 31 December 2024
6.152,607
19,787,065
110,697
283,463 26J33032
All investment funds are held in the UK.
Page 24

The I'Triied Relorrned ChU￿h
SoutherD S nod T￿￿1 Llmlttd
Acor
l.imited bv Cjuarantee
Notss to the FingWtIAI Staitments
for the Year Ended 31 December2024
I I SOCIAL INVFSTMENTS
31.12.24
31.12.23
Loans to L(Kal Cburches
69.202
544.179
Loans tnade to loc￿ Church￿ and minisi¢TS arc nom)ally wayable betweertthTee and five yeats and ittteresi is
charged at 5% w I[￿u￿ on the outstandin8 balantc.
IZ DEBTORS
31.1224
31.12.23
Sunthy d¢btors
155J04
114.682
13 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12a4
31.1223
Other creditors
Contribution to Minisivs, Pensioo Fund
Grants not draw
461,957
657.460
1,434.486
1,868.948
3.960.894
1.747.681
2209,638
14 DISPOSITION OF FUNDSAS AT 31 Dtttmber 2024
Fund..-
Tan8ible
F￿ed Assets
S(￿141
Debtorsl
InYesttDeftts CredrtOTS
Cash &
EWosi18
TOTALS
General Pwposes
Unrestrict¢d 181.363
18,066.187
460,n2
69,202
11.934,8491
3.837245 20.219,148
4fAI,722
Manse
Designated
AlfTiStOD Mission Proj¢¢t Deswjated
Synod Mi5$10n FuDd
Desi8naled
9,958,659
2,988.817 12,936,366
166.462
166.462
108.335
{108J351
24,444
24,444
Fund held for Unitin8
ChurchB5
tlesi8nated
Cburch Build￿8
R￿trIcted
End0￿￿enT
35
35
8.008
8(M)8
W¢lfart
Rcsmcied
29,471
1121
2.523
31.994
2.121
Restricted
1.647
363,135
iTr,o
364.782
l77,0(Kl
Housin8
Milton Hall
R¢stri¢*d
Endowmeni
53.897
226,874
91076
145,973
226,874
Wth)Iwi¢h
R¢Strt￿ed
152.56)
29.063.5?6
80,753
7.86i.600
2J3.-118
i5_12
-357
69.?02
11.054.334)
Pay25

The United Reformed Church
ouihern S nod
Acom
LiTllited b Guarantee
Trust Llmited
Notes to the Financial Statements
for the Year Ended 31 December 2024
15 PENSION SCHEME
Up until 28 February 2024, the United Refornied Church (Southern Synod } Trust contributed to The United
Reformed Church Fitvdl Salary S¢hem¢, a pension scheme principally for lay staff which is administered by TPT
Retirement Solutions Trust (fonnerly The Pensions Trust). The scheme is a defined benefit Scheme but the Trust is
unable to identify its share of the underlying as5¢ts and liabilitie5
each member in the scheme pays a ¢oJnmon
contribution rate.
The most recent fomial actuarial review of the scheme was at 30 September 2022, when the ￿herne had a surplus of
£1,446,000.
Th¢ s¢h¢me was closed to future accrual OD 28 Feixvary 2023. A new defined tontriburion s¢heme was sd up
administered by the Aon Master Trust on l March 2023 and staff have b¢en moved to thi5 scheme. The total
pension contribution5 into the defined contribuiion s¢heTll¢ Tnade in the year were £69,109 (202J'.£68.412)
16 COMMrrMEf+lTS
Property
The office fornts part of a property registered in the name of the United Reformed Church (Southern Synod) Trust
Limited and held on statutory tNsts in favour of East Croydon United Refomied Church. Under an infornrdl
agreemenL the Trust cornpany pays rent of £18,000 to the lo¢al Church for the use of the Synod offices.
Contributions to the URC Ministers, Pension Scheme
The pension scheme for ministets, run nationally as a central fvDCtion of the United Refomed Churc14 has been in
deficit for some yeaTS despite several atternpts ¢0 re501ve the Unde￿nding based on the valuation approach required
of the sch¢tne actuaries. Due io the Structhre of the national church and ministerial appointh)ents th¢r¢ is no l¢gal
obligation for the Trust bui all of the regional and national bodies have been approached and th¢re 15 wide
acceptanc¢ that there is a moral obligation at the synod level and that such support does fall within ih¢ ckntable
purposes of the Trust. At the end of 2023, a commimient of £1,500,000 was to be paid in 2024 and this was
included in creditors. However during 2024 the national church infonned us no further payments would be required
and th¢r¢fore this amount h15 been written back in 2024.
17 CONTINGENT ASSETS
At the year en¢1 the property of four Churches. held on Stamtory Trnsts in a¢cordan¢e with the United Refornied
Church Acts of 1972, 1981 and 2000 by the company, were held following the church's closure. The proceeds will
revert to Synod on the sale in accordance with th¢ Sta￿lory Trusts on which the property are held. Professional
advice is being sought prior to disposal.
Page 26

The United Rtfomed Churth So¥thcrn S nod
Acom
#n Limited b GLForlllltee
Trust Limited
Notes to ih¢ Fin*n¢i41 Ststements
for the Year Ended 31 December 2024
18 COMPARATIVE ANALYSIS BY FUND
The key comwnents from th¢ prioryear figures are analy*d klow by fiJrtd:_
2023
Unrestric*d Funds
Generdl PuTwses
Designated
Funds
Fund5
Restritted
Funds
Totsl
Funds
INCOME AND ENDOWMENTS:
Intome from Investments
Income from ehxrltabl¢ a¢tlvltl¢$
Donations and L¢ga¢ies
Other Incorr
674.251
438,696
40,520
1,153,467
30,264
387.018
1,1191W3
4,558
34,822
387,018
I J75J07
Total •perating income
4￿090
45,078
In¢om¢ on sal¢ of pro￿rtleS
Lease Pr¢iniutn5 R¢c¢ived
ProfiU{t￿s} on Sale of properties
103.750
l.615.0(Xl
1.71&750
72,620
72,620
Totsl Intomt Ind Endowments
6.145,727
1,206,169
211.103
3J66,677
EXPENDITURE
Exttnditure on Charitabl¢ Activities
Total op¢rating ¢xpenditure
1725,228
1725,228
674.504
674.504
20,477
20.477
3.420,209
3A20.209
Paytnent to Inier-synfyj
Resource Sh8rirt£
50,000
50,IM)O
Contribution to the Ministers,
Pension Fund
Di5countinB adjus￿ent for Long
Temi Creditor
64.281
64281
Purchase of Man5e5
752,500
752,500
Total ExpeDdittsr¢
LL19J09
1,427,iNJ4
20.477
438@990
Net Expenditure o
Op¢rnting Account
11,633,695)
1235,8081
24,601
IIJ44,902)
Net Income/lExpeDditur¢)
(1,571,606)
626,692
24,601
(920J13)
Trnnsfers bettyeen Funds
Oth¢r Recognised CainsllL¢b5sesl
Net ILosse5yGaiTh5 on Investments
822.236
295,164
21.4
1.138,800
Net movem¢nt in fund5
-749J70
921,856
46,￿1
218.487
Tot￿ funds brought forward
18,797,999
11.027.093
1.072.274
30097J66
Total fuAds c8rried fonvard
18.048,629
11,948.949
1,1 J8,273
31,115,853
Page 27