CONTENTS Pale Trustees, report Independent audit¢f'S report 8-10 Statement of flnanclal activities li Balance sheet 12 NÉxes to the accounts 13-20
FELLOWSHIP OF ST JOHN IUK) TRUST ASSOCIATION LEGALAND ADMINISTRATIVE INFORMATION Twuste•5 Revd Grant Naylor Choirmon oJthe Trust (from 21 June 2024J Revd Stephen AndefSDn OA n0ce Committee David Ballance Revd Canon Charles C3rd-Reynolds Ichairnwn oftbe trust to ?1" June 2024) Revd Canon John Chambers Baroness Angela Harris (rtsigned21 June2024) Revd AndrÈw Malcolm Howard Riley Paula spenr (oppointed21 June 2024) Admlnlstratlve Support nden Sheffield Chmrlty number 289862 Corn¥ number 01830397 M•Slln8 Addf•ss 348 Hughenden Gardèns Village, Hughènden Boulevard. High Wycornbe HP13 5GH Reii5ter•d Offi¢• 65.68 Leadenhall Stre•L london EC3A 2AD Audltors Knox Cropper LLP Chartered Accountants 65-68 Leadenhall Street, london EC3A 2AD Bankers Reliance Bank Ltd Faith House. 23-24 Lovat Lane. London f C3R 8EB Soli¢6tors Wedlake Bell 71 Queen Victoria StreeL London EC4V 4AY Investment Advlsors Rathbone Investment Managernent, 8 Finsbury Circus, London EC2M 7AZ Sarasin & Partners, Juxon House, Ifx) St Paul's Churchyard, London EC4M 88U Mclnroy & Wood, 34 Queen Anfte Street, London, WIG 8HE
FELLOWSHIP OF ST JOHN (UK) TRUST ASSOCIATION TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The Trustees present their report and accounts for the year ended 31 December 2024. which are also prepared to meet the requirements for a directors. report and accountsfor Companies Act purposes. Thè 袢nunts have PTppar•d •¢¢nrdancp with thp occtiuntiriE pnlYieE nut in not I to Ib.• arrouftts 4nd comply w7th the cornpany'5 meThorandurn and article5 of associalion, the Charities Act 2011, the Companie5 Act 2C#J6 and Accounting and Reporting by Charitie5.' Staternent of Recornmended Practice applicable to charities preparinE their accOUr in accordance the Financial Reporting Standard applicable in the UK and Republic of IrelaTrd IFRS 102 second edition). IARITY MERGER With effert from the 24 DE¢ember 2024, the net assets of St fjeorges Trust, The sisterhood of the Holy Childhood aTrd The Society of Saint John the Evangelist, were trar¢sferred to thÈ Fellowthip of St john IUKI Trust A550Ciatio IFSJI, and the a55ets of thEse t¥U5ts became restricted ftsnds within FSJ. This will 5irnp1 the preparation of accounts and the inter-charity relationshlps. STRIURE. GOVERNAN AND MANAGEMENT The company is regi5terÉd as a charitable tompany limited by guarantee. The company Is constituted undèr Its Memorandtsm and Articles and 1$ 8 registered charity number 289862. The Trustees are also the directors for the purposes of company law. The cornpany is the Trustee of The Soaety of St John the Evangelist, The Saint George's Trust and of The Sisterhood of the Hdy Childhood lall registered charitiesl. As each of these charities is sepafately constituted, consolidated accounts are not produced (but see above regarding the rnerger of the charities). New Trustees are appointed by the company members at the AGM and Serve until the nexl AGM, at whlch time they put thernselves forward for Te-election. The trust deed provides for a rninirnum of three Trustees to a maximum of nine Trustees. Tlie Trust does riot éctively seek new funds or vngage tn fnd rai5ifi& biit befi SuPPOited by a wde membership of lay oidalne(J people In the Fellow5hlp of St John". These mernbe¥s work Tor the alrns of the charlry throug prayer, athve support of the work and fell¢)wship. The Board of Trustees meets ai least quarterly. The Trustees agree the broad strategy and areas of activity of the Trust, induding consideration of grants. investmenis, risk management and performance. The day to dav administration of granis and the processing and handling of applications prior to consideration by the Tr4stees is in the hands of the Adminisiration Officer. The Trustees have a procedures manual, whith fomialise5 controls over procedures. including grants, paymènt authorisation ènd lvestments. Also included In ihe manual are job descript5 for Trustees, Tfustee code of condurt. conflict of iTrlerest policy and a policy forTru5tee expense5. On appointm¢nt. new Trustees sign ihe Trustee Declaration, comrnitting Ihern to givinR of their time and expertise. An induction proErarnrne for new Trustees includes an initial rneeting with the Chair to discuss issues of leVanCe to the Trust, the hisiory of the charity and its charitable purpose5. investments, the grant making process and the roles and responslbilities of the boèrd. NewTrustee5 are given a copv of recent board minutes. a copv of the most recent accounts, a copy of the governing trust deed and copies of thé Charity Cornrnission's guidance, The Essential Trust*-. What You Need To Know ond"The Hèllmarks of an Effective Charity" All Trustees gfve of theor tlme fréèly and no remuneration was paid to Trustees in the year. Trustees are required to disclose all relEvant interests at each board meetSng and, In accordanct th Ihe Trust's policy. withdraw from decisions where a conflict of interest arises. The charlty's Trustees have referred to the guidance in the Charity Cornmission's general 8uidance on Public BEnefit when reviemng the tharity's alms and objecfjves and in planning its future activities. In particular, they have con&dered how planned actithtles will tOThlribute io the aim5 and objertivesthey have set.
FELLOWSHIP OF ST JOHN IUK) TRUST ASSOCIATION TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 OBJECTIVES AND AlTIEs The Trust Is engaged in mi55ionary and educational works for the advanment of the Kingdom of Christ, as stated in the cornpany's Memorandum and Articles of Association. its governing document. The Trust adrninisters a group of charities a$50ciated with the Angl8 Religious Order of the Society of St John the Evareelist ISSJEI. Our mission staternent, Msion and Dbiectives hève been recently developed and seek to define us as a body and the nature of our mission to enable us to be'fit for purpose, in the 21, Century. FSJ Mlsskjn Ststement "Seryinq God... Serving athers... Tmnsforminq lives" Mlsslon Vl$h)n Build up thebody olchrist by iesponding to theneeds olothers Mlsslon Oblertfves Hove Gospel volues t7titsheort 0nde5t topromote them Develop mission Reach out topeopleocross the world to tronsform lives Eqtsip ond enable others to develop theirown undotheis discipleshlp GRANTS POUCY The principal activity of the Trust is the awarding of grants to var¢ous beneficiaries upon application and to ensure that the Trust is able to make the best use of the financial resources available to supportthat activity- The PDlicy towards grants ha5 its anlecedent5 in SSJE. from which the Trust ernerged. SSJE was a monastic and mi55ion4ry cornmunity where WOTk wa5 undertaken in parishes and mis5ioTral contexts in both Great Britain IGBI and overseas, most notabty in Southern Africa, West Indie5. Indki and Japan. This inform5 the current grants policy. Speciffically. grants are awarded in response to wable applications from.. l. Pari5he5 and rni55ion contexts ITh GB and oversea5. endeavouring to enhance and develop their worshipping ommunities. 2. Monasiic communities, looking to develop ihe monasiic lrte. espeaally for USE in mission. 3. Anglican Theological houses, training communities and pastoral stheme5 pfovKling education. forrnation and experientt to those seeking dIsMment for priestly, diaconal and lay ministry. 4. Those Wishi to enrich their spirituality in Anglican CathL)li£ contexts. A particular feature of the grants policy is the willingness io support designated parishes and schemes over a number ol years to build capacity and outreach. As such, there is a preferenee for 5UPPOrting ministry and people where the Trust can build confidence in positNe outcomes being athieved. Grant applications are invited ané considered on their merit if they meet the criteria. They are then approved by all the trustees meeting togethw. Trustees declare any conflicts of interest. and rf neSsary recuse themselves from participating in the relevant grant-mak*'ng discussion and decision.
FELLOWSHIP OF ST JOHN {UK) TRUST ASSOCIATION TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 AN OVERVIEW OFTHEWORK OFTHETRUST IN 2024 The Direct015 rnet five titnes duriTrK as a whole board to discharKe business, award grants and set the direction for the charlty. In February we met at Whalley Abbey for our annual residential and to yndertake visits to projects in the North West We were joined by the Dean of the Windward Islands who gave ? series ol talks TO the dirertors from his perspective as a priest in the Caribbean. A key ongoing priority for the board is to grow the Fellowship lour Membership) and to build up a pool of skills to assist the work of the charity. To fvrther this we held a retreat, which was open to all members and directors at the Community of the Resurrection in Mirfield. It was a fruithjl tirne, not least SPlTltually. The retreat was led by Fr Nicola5Stebbing CR and reflected African approached to spirituality. At the annual rneeting ITh the sumrner. Fr Nicolas Stebbing CR, Mr Carl J-_k50Th and Fr Aoger Parker were admitted as rnembers of the Fellowship. Barorsess Angela Harris stepped down as ) Director after many years of distinEuished service and Paula Spencer was appointed a5 a director. Fr Charles Card-Reynolds stood down as chairman after 12 vears in post and Fr Grant Naylor was elected to succeed him. Fr Chartes was thanked at the AGM for his work and sionary leadership in rnakinB the charity what it is today. In the Auturnn the direclors. led by the finance comrnittee thanged its budgetary process to better reflect where the charsty is and how finances are doinE. This means that the charity will endeavor to Set a budget for the followin8 yeav in the autumn ot the previo5 year. At the rneetinB in Novernr 2024 we were able to incfease the budget for grants 2025 by £40,cr(l. for whith WÈ Ihank God. A significant piece of work has been thè rnerger of the charitie5 and there is fijrther inforrn4tion elsewhere in this report but it has beets a significant pittè of work thrs year and has taken up considerable time. OUT benefiaaries are listed below. We have been greatly encouraged by Ihe diverse nature of applicatiortrs recewed. Some key themes do seem to emer8e in the applieations.. l. Support for youni people. There have been several grants awarded to support the nurture and educate young people in the faith, not just in the UK but abroad as well. From the School 5UPPOrt in India. to assistance to groups travelling to the Walsingham Youth Pilgrimage, to the Tariro Project in Jmbabwe, to children, farnilie5 and youth workers in the UL FSJ has been a significant investor in young people. Promotins the Reli¢h)us Life Faithfijl to our foundation we have been delighted to support.. major works at an established convent in Wale5, the building of a new rnonastery in rnbabWe, and contsnued sponsorsNp of the ROOTS annual vocations day in England. Edu¢ation The Trust ha5 SUPPOrted the work of 5t stephen's House through the 8en50n Scholarship has provided support to several ministry experience sthemes Iwhich give prdctical and theological training to those exploring a call to the yriesthoodl, supported two scholars al the Univer5ify of the Western Cape, aThd glven a grant to Forward in Falth to roll otst a ieaching series for the anniversary of the NIne Creed. 4k Supportln4 TransfOrMatn at the Parish Level. Various parishes have been supported dlrertly in their rnission initiatives to grow the Kingdom of ChfisL Thi5 has included fvnding an administrator in Ribbleton. aiding the rnu5ical iyadition in Toxteth Park and giving a Brant to 51 Mary Kenton for a new websltè. There have beeTh three iThterfiatioTral trbps with Fr Naylor prgjects iri Limbabwe and Fr Card-Reynolds vi51tin8 projects in the Caribbean and Souih Africa. The purpose of these visits are to further build relationships with our mission partners and to carry Qut due diligen in understanding the nature of their work and governance. We are keen to assess how Money given oversees has been uséd and to astertain how partners rn18ht benefit from further funding. There has not been a $it to India for some time and wtilst the Directors are aware of the need to make this happen there are no plan5 a5 do so at the rnoment.. thi5 will be reviewed in 2026. The Trust is minded tt> have a Safeguarding review in 2025 in order to ensure we have the best PQSsible policies and procedures. Thè Trust look5 tofward with conlidence, trusting always in ChTlSt our Sawour.
FELLOWSHIP OF ST JOHN {UK) TRUST ASSOCIATION TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 FINANaAL REVIEW The result for the ye?r is disc105ed in the Staternent of Financial Actiwties on page 11. This indicates a net increase in unresiricted funds of £478,620,12023 increase.. £126,867). On the 24" December 2024, the net assets of St George's InJsL Sisterhood otihe Holy ihildhood and the Society ot 51 John the Evangelist were merged with the Fellowship of Sl John IUKI Tru5L The assets transferred are stated In note4. The purpose of the Trusvs reserves policy is io ensure that li is able to meet it5 obligations and finance its planned future aCti7t1e$. The level of free reserves lunrestricted Income fvnds net of funds represented by tangible fixed assets) is reviewed annually by the Trustees. At 31 December 2024 free reserves amounied to £8,995,160. Durtng the course of the current year, grants totaling £260,286 were awarded lin cornpari50n to £318,552 last yearl to various benefiuaries. Details of grants awarded are given in note 6. REVIEW OF INVESTMENT ANITy The Trustees have Set the investment managers a target of producing lotal return5 that achieved CPI +4Oh over the long teim. It is a demanding target because, rf inflation runs at say 5%, then nominal inve5trnenl returns will need to achieve 9% to reach this outcome. Ihis measurement has been further refined in 2024 by the adoption of a secondary obiertivè Intorporèting o omposite index madè up of 75% MSCI ACWI in sterling and 25% fjlobal Government Bonds in sterling, as the basis of the performance comparison. This new performance objective, set for all three managers Trow, more directly measures the v8luÈ to be added by dTr5uetionary portfolio management over and above the cornparator of passive index tracking ftjnds. The Trustees wish to see a ju5t4fication for the inveslmert fee5 being paid. There were quarierly rneeting5 Wlth each rnanager, to review perforThance and IndidUal stock selections. Rathbone$ In 2024, the Rathbone Core Investment Fund for Chariiies, returned +9.7% net of fees, IghtlY behFnd Rathboftes, £on7POSite indeA benthirnai k which rose +io.Imi but 0M1vritlts1 ahead ot the peer group las measured by the ARC Charity Steady Growth Indexl, which returned +8.2%. Sarasin As ai 31st Deomber 2024, the portfolio had delivered a return of 11.8% over the year, Tret of fees. This was a Ilttlé behind the compote benchm&k return of 14.3% but well ahead of the comparative ARC Steady Growth Charity Peer Group Index return of 8.2%, which refteL1s the retlrrns of other charity investOTS adoptinK between 60- 80% equity risk. Mclnroy & Wth)d IM&WI The portfollo was established on 9th January 2024. MWS investment approach emphasises broad diversificalion 35 a means of rnanaging risk and there was relatively little exposure to these sertors which have dorninated markets in the period. The portfolio therefore did not capture a rnaterial elernent of the returns from global stock markets and achieved a mode&t tot81 retum frum inception on 9th January 2024 to 31st December 2024 of 2.k In May 2024 the equity alk)cation wa5 increased from 65% to 7, ieflecting further reductions in the perceived risks to equity markets ond the normali5ation of interest rate5 and infiation. FINANaAL POLICY Despite the nominal value of inve5trnents having dedTrned significantly in 2022 into 2023, because of adverse financial market wnditions consequent upon the upturn in inftation, the Total Return Accounting pdicy adopted by the Trust for many years has ensured that grants have been maintained at pr&existing levEls and we hoFe at least to continue that, in future. The T¥Stee$ arp lookinw to restore the Unapplied Total Return olgment of the investment portfollo, whlth while increasing in nominal terms durirsg 2024. when adjusted for recent inflation, has in real tem)s fallen about 25% below the starting level seen in 2015. when investment rnanagers were appoinied to managé the portfolio.
FELLOWSHIP OF ST JOHN (UK) TRUST ASSOCIATION TRUSTEE5' REPORT FOR THE YEAR ENDED 310ECEM6ER 2024 2024 wa5 therefove a year of finanaal consolidation. For the future, it is hoped that inuemental increases will be POS5ible in the quantum of funds available 10 5UPPOrt the provision of 8rant5 but that Is dependent on rnark5 and the performance of the investment managers, ETHICAL POLICY We a guided generally by the Church of England ethical policy . The Trustees closely monitor the inte¥ration of envircnmental, social and 8overnance factors IESGI followed by our investrnent mana8ers to inform their deasion- making. RISK MAhlAGEMENT The Trst has developed a risk mana8emeftt process which allows the identification, assessment and management of siRrsificant risks, which may impact on the achievement of their objective& The process is supported by a risk management policy, which outlines the roles and responsibilities of trustees and staff and follows Charity Commission guidelines. The board reviews the fisk reElSter and risk manaEement arrangements at each meeting. Risks are prioritised using an agreed Matrix. Major risks. which are subject to monitoring and review, reflert 155ue5 around operational, financial, legal and regulalory risks. Current areas of locus are ensurinR investment return5 are zppropriate. The Finance Cgmmittee reviews the investments quarterly aTrd regularly meets with the investment managers. The Trustees have assessed the rnajor rlsks to which the cornpany is exposed and they are confident that Boing forward, exposure to major risks will be rnitigated. STRATEGIC OWECTIVES As a Trust we intend in the period ahead to continue to.. regularly address our strategy and use 0r Mission Staternent, Vision and Objectives to check how we operate and perform,. continue to develop whai an FSJ Mi55ioD •Trd F3J Mlnlsiry SI1 look Ilke," ftcus specifically on ourwork in GB, Southern Africa.. India and The West Indies contiTrue lo develop and deepen our link and wa¥k with SSJE IUSAI,. develop partnerships in and between our areas of priority,. focus on a smaller nurnter of areas of work and proJerts looklng to build our relationship w7th them over a period of tlme,. explore way5 to facilitate best practice in mi55ion developrnent by upskilling people to develop their own and other5 projects. ensure that financial resources available to fund the awarding of grant5 are managed professionally and prudenV, balancing risk and retum. remain legalty compliant with all relevant UK charities and related legislation and adopting than¥es lo besl practice affecting charities. where it is appropriate to do so. maintain good governance for the conduct of the affairs of the Trust in line with the requirernenls and admte from the Charities Commission, the Registrar of Companies and the Church of England. DISCLOSURE OF INFORMATION TO AUDITORS Each of the directors has confimied that there is no information of which they ore aware which 15 relevant to the audit, bul of which the auditor is unaware. They have fvrther confirrned that they have taken approprEate steps to identify such relevant information and to establish that the auditors are aware of Such information. AUDITORS A resolution proposing that Knox Cropper LLP be reappointed as auditors of the company wll be put to the rnembers. Thi5 report ha5 been prepared in accordance with the small companies, regime within Part 15 of ihe Companies Att 2C(6.
FELLOWSpllP OF ST JOHN (UK} TRUST A5SOCIATIUN TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 STATEMENT OF TRUSTEE5' RESPONSIBIUTIES The trust@Ès: who are also the directors of Fellow&hip of Sl John IUKI Tru51 Assoclatlon for the purpose of tompany law, are responsible for preparlng the Trustees, Report and ihe accoupts in ¥cordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted kcounting Practi1. iHcludifig Financial Reporting Standard 102 Yhe FSnancial Reporting standard applicable in the UK and RepU1C of Ireland". Company law iequire5 the Trustees to prepa actounts for each financial year which give a irue and fair vlew of the state of affairs of the charitable cornpany and of the incorninE resources and application of re59urces, including the inwme and expenditure, of the tharitable company for thai year. Under Cornpany Law the Trustees must not nrhi. th= Knancial sta+err.aryts..-.le<s ara 2tisfieA tha+ theip rrjif 3 trLia a,-.4 fair of the r+ate ¥f a!F3jrs the compary and of the proflt or loss of the company for that period. In preparing these accounts, the trustees are requlred to.. select suitable accounting polloes and then apply them con&stent,. observe the methods and principles in the Charities SORP,. make judgements and estimates that are reasonable and prudent,. stale wneiher applicae accounwng standariis nave been foliowe(i, surjject ID any material iiepartures disclosed and explained in the financial ststements.. and prepare the accounis on the going concern basis unless it 15 inapproprlate to presume thatthe tompany wll continue in operation. The trustees ale responsible for keeping adequate accounting records thot dlsclose wth reasonable tkcuracy at anv time the financial positi of the company and enable them to ensure that the accounts cornply with ihe Cornpanies Act 2[6. They are also responsible for s4leguarding the assets of the company and hence for taking reasonable Steps for ine preveniion and deieciion OT fraud ano other irregularities. The report has been prepared in accordante with the special FvISIOnS of Part IS of the Companies Act 2C relating to small companies. On behalf of the board of Trustees Kevd. 4iranr N•yb)r Dale.. x July £025
FELLOWSHIP OF ST JOHN (UK) TRUST ASSOCIATION INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF FELLOWSHIP OF ST JOHN {UKI TRUST ASSOCIATION FOR THE YEAR ENDED 31 DECEMBER 2024 Oplnlon We have audited the financial statements of the Fellowship of St John Ithe'charitsble cornpan¢l for ihe year ended 31 December 2024 which comprise the ststement of finantial adiwties. the balance sheet and noies to the financial staternents, including a summary of sgntficant accounting polioes. The financial reportirvx framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Finonciol Reporting Stundoid opplicable in tlje UK ond Republic OA Irelund (United Kingdorn Generally Accepted Accounting Practice). In our opinion, the financial staternents.. give a true and fair view of the state of the charitable tompanvs affairs as at 31 Dember 2024 and of its incoming resource5 and application of resources for the year then ended,. have been properly prepared in aecordanee wlth United knngdom Generally Accepted Accouniing Practice,. and have been prepared in occordance wth the requirements of the CornpaTrie5 Act 2¢))6. 84$15 for oplnbn e Conducted our audit in accordar¢ce with International Stanéard5 on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the Auditorfs Tespon5ibilitses for the audit af the financial ststernents section of our repoTt. We are independent of the Charitab company in accordance wlh the ethical requirements that are relevant to our audit of the financial stalernents in the UK including the FRC'S Ethical Standard, and we have fulfilled OUT Other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtsined is sufficient and appropriate to prolde a ba515 lor our opinion. Conclusion5 relatin¥tO ¥Oin8 concem In auditing the finanaal staternent5, we have concludEd that the trustees, use Df the going coniern ba515 of accounting in the preparation of the financial ststements isappropriate. 8ased on the work we have performed, we have not identified any material urKertainties relating to events or conditions that. individually or collectively. rnay cast gnIfIcant doubt on the charItae companvs ability to continue as a going concern for a period of at least twelve months frorn when the financial 5taternents are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. Other Informatlon The other information comprises the inforrnation included in the annual report. other than the financial staternents and our auditorfs report thereon. The trustees are responsible for the other information. Our opinion on the financial statement5 doe5 not cover the other inforrnation and, except to the extent otherwise explicitly stated in our report, we do not expre55 any form of assuran conclusion thereon. In connection with our audit of the financial 5tatement5, our re5pon5ikn.lity is tts read the othe¥ inforrnation and. in dotng 50, consider whether the other information 15 rnalerially in¢on%5tenl wth the financial statements or our knowledge obtained in the audit or otherwise appears to be materially rni55tated. If we Identify Such material inconsistencies or apparent rnaterial rnisstatement¥ we are required to determine whether there is a material misstatement in the financial 5tatement5 or a material misrtatement of the other informaiion. If. based on the work we have performed. we condude that there is a material rnisstatemefit of this other information. we are required to reFMJrt that fact. We have nothing to report IT> this resard.
FELLOWSHIP OF ST JOHN (UK) TRUST ASSOCIATION INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF FELLOWSHIP OF ST JOHN {UK) TRUST ASSOCIATION FOR THE YEAR ENDED 31 DECEMBER 2024 Opittion5 on other matters prestrhed bythe Companles 2006 In our opinion, based on the work undertaken in the course of the audit.. the information given in the Trustees, feport, which includes the diTectors' report prepared for the purposes of company law, for the finanual year for which the financial staternents are prepared is ton51Stent with the financial statement5,' all the director< report includéd within the Truste report ha5 been prepared in accordan with appllcable legal requirements. Matters on whkh w**r• required to rep)rt by exception In the light of the knowledge and understanding of the charitat4e company and its environment obtalned in the course of the audit, we have not identified rnaterial rnisstatements in the directors, report included wlthin the trustees, reporL We have nothing to report in respect of the following matters in relation to whith the Cornpanies Act 2W6 requires US to report to you if. in our opinion.. adequate accountin£ rordS have not been kept. or returns adequate for our oudii have not been received from b¥anche5 not visitsd us,. or the financial statements are not In agreernent with the ac¢ountine records and return5,' or certain disclosures of trustees. rernuneration spellfied by law are not made.. or • we have not received all the infomation and explanations we require for our audit,. or • the trustees were not entided to prepare the financial statements in accordance wilh the small cornpanies regime and take advantage of the small companies, exemptions in preparing the trustees, report and frorn the requirement to prepaie a strategic report. Responslbllltie5 of Trustee5 As explained more fully ilt the tru5tee< Tesponslbilities statement. the trustees Iwho are a150 the directors of the haritable company for thè purposp% of company lawl are responsible for the preparation of the finanaal ststernents and for belng satisfied that they give a true and fair view, and for such internal contlol as the trustees deterrnine is necessary to enable the preparation of financial statements that are fret from rnaterial misststement, whether due to fraud or error. In preparinB the financial staiements. the trustee5 are responsible for assessing the companVs ability to continue as 3 8oinE concern, disdosing, as applicable, rnatters related to going toncern and knsing the going concem basis of accounting unless the trustees eiiher intend to liquldate the company or to cease optrations, gr have no realistic alternative but to do so. Auditorfs responsibilltle5 br the audit of the financlol statements Our obiECtives are lo obtain reasonable assurance abgut whether the financial statements as a whole are free from material misstaternent, whether due to fraud or error, and to issue an auditorfs report that irKludes our opinion. Reasonable a55Ufance is a hieb level of assuTance, but is not a guarantee that an audit conducted in accordance wlth ISA5 IUKI will always detect a rnaterial misstaternent when it exists. Misstatements can afise froffl fraud or errol and are considered material if, individually or in the aggregate. they c9uld reasonably be expected to influencè the economic decisions of user5 taken on the basis of these financial statements. Irregularlties, including fraud. are instances of non<ornpliar5ce with laws and regulation& We design prDcedures in IlnÈ with our respon5ibitsties, oullined 8bove, to detect rnaterial rnisstaternents in respect of irregularitie5, including fraud. The extent to which our procedures are czpable of detecting irregularities, indudin8 fraud is detailed below.. The Charitable Company 15 required to comply with both company law and charity law and, based on our knowled8e of it5 activities. we identifieé that the iegal requirement to accurately account for restricted funds was of key ygnificance. We gained an understanding of how the charitable company comphed wlth its legal and regulatory framework, including the requirement to properly account for restricted funds, through discussions with management and a rewew of the dcKumented policies, procedures and Controls. The audit team, which Is experieThced in the audit of charities, considered the charitable companws
FELLUW5HiP OF ST JOHN (UK) TRUST ASSUCIATION INDEPENDENT AUDtfoR'S REPORT TO THE MEMBERS OF FELLOWSHIP OF 5T JOHN (UK) TRusr ASSOCIATION FOR THE YEAR ENDED 31 DECEMBER 2024 -1 ltate-. .er.: ar.d h¢'.v frau. AaA *ttr.slder3tlonr InclL'. management override. Our approach was to check that any restrirted inttjme was properly identffied and separately accourrted for and to ensure thal only valid and appropriate expendire was iheft charged to festricted fttnds. This included reviewing journal adju51rnent5 and unusual transactions. A further desuiption cf our responsibilities for the audit of the financial staternents is located on the Finanoal Rewil iiiig CvuiiLII S W¥i•s1ie al. w4WV4.IikniJT report Kicnara tsiliingnurst (Senior itaiuiory J¥uaitorj for and on behalf of Knox Ciopper LLP 65 Leadenhall StreeL London EC3A ZAD 0110912025 io
FELLOWSHIP OF ST JOHN (UK) TRUST ASSOCIATION STATEMENT OF FINANCIAL ACTIVITIES INCLUDING THE INCOME AND EXPENDITUREACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024 Note 2024 2024 RestrKted FLEnds 2024 Total 2023 Total Restated (Note 151 Unre51ricted Funds IncDm* I[n.. Donations and legacies Investrnents 36 258,841 258,841 259,771 Total 258.841 258,841 259.807 Expendjrureon,. Investment rnanaKemEnt fees Charitable Actiwitle5 45.938 45,938 45,633 357,615 357,615 421.399 Total 403,553 403,553 467,032 et gains and losse5 on investment5 10 623,332 623.332 334.092 Net Inconwlexpendfcurel 478.620 478,620 126,867 Net assets transferred 3,695,659 3.695.659 Net mo¥ement in funds 478,620 3,695,659 4,174,279 126,867 Fund balances at I january 2024 8,516.540 8.516,540 8,389,673 Fund balan¢esat 31 December 2024 £8,995,160 £3,695,659 £12,6.819 £8,516.540 rhe statement of financial activities a150 complies with the requirernent5 for art incorne and expenditure account under the Companie5 Act 2CI)6. All the above activities reflect continuing activities. All movements in the Charit(s funds during the year are reflected throuEh the 5tatèrnent of financial activitie5. All the Charl$ funds are unrest¥icted in both the current and precedin8 year. li
FELLOWSTrllP OF ST JOHN (LIKj TRLISI AssuCIATION BALANCE SHEEf AS AT 31 DECEMBER 2024 31 D•cembtt 2024 JI December 2023 Investment assets 12,666.179 12,666,179 9,175,262 9.175,262 Current •$set5 Debtor5 Cash at bank and in hand li 33.328 92,764 126.092 76,669 S5.992 132,6GI Credltors Amounts falling due withln one year 12 1101,4521 1791,3831 Net current assets 24,640 1658,7221 Total as%rfs le55 current Il•blllties £12,6,819 £8,516,540 unrestrktea funris Unrestricted income funds Revaluation Reserve Restrictsd fuThd5 TOTAL FUNOS 13 13 5,718,438 3,276,722 3.695.659 £12,690,819 5,863,150 2,653,3YJ £8,516,540 These account5 have been prepared in accordance with the special proyisions relatsng io Small companies within Part 14 of thp Companies A.rt ?rx)6. The 2Ur_ we*a appryed by B03rd il JiTr!y 2n?s Revd. Grant NaylDr iompany Reilstrarpn No. 010303y7
FELLOWSHIP OF ST JOHN (UK) TRUST ASSOCIATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 1024 Accountlni p)Il¢l•s 1.1 Ba$Ls of preparatb)n The accounts have been prepared in accordance with Accounting and Reporti by Ch8fities.' Statement of Recomrnended Practice applicable to chanties preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102 second editlonl, effective l January 2019 (Charities SORP FRS 1021, the Financial Reporting Standard èppllcable the UK and Republic of Ireland IFRS 1021 and the special provison5 relatir8 to srnall companies within Part 15 of the Companies Act 2(MJ6. The Fellowship of St John IUKI Trust Associalron rneets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwse slated in the relevant accounting policy Trote. The trustees consider that there are no material uncertainties aboutthe As50ciation'5 ability to continue a5 a going concern. The charity has taken advantage of the disclosure exernption from the requirernents of Section 7 ststement of Cash Flows. in prepari these financial 5taternent5, as perrnitted by FRS 102. The Financial Reporting Standard applicatsle in the UK and Republic of Ireland" 1.2 Incoming re50urce5 All incoming resources are induded in the Statement of Financial Actrwties when Ihe charity ss legally entitled to the income and the amounts can be quantified with reasonable accurary. IrKorne tax <ecoveiaL4e in rel4tion ts) donati0Trs received under Gift Aid or déèds of covèThaTrt Is le(nised at the time of the donation. 1.3 Resources expended All expenditure is accounted for on an xuuals basls and las been Induded under expense cate8OTies that aggregate all costs for allocation to activtties. Where costs cannot be dirertly attributed to particular actimlies, they have been allocated on 8 ba&$ consistent wlth Ihe use of the resources. Governance costs are those incurred in connectioD with adminlstration of the charity and compliance with con:titutional 2nd statutopi requirernÈnts. Grants payable are Charged in the year'when the offer 15 made excepT In Ehose cases where ihe Orrer Is tonditionai, suctt 8ranis tse1 recogn15ed as expendituro when the conditions attached are fufftlled. L4 Tanilble fSxed •sset$ and depre¢t)n Tangible fi'xed assets other thafi freehold land are gtated at cost less depreciation. Depreciation is provided at rate5 cal(ulated to writt off the cost less estimatèd residual value of each asset Dver its expected useful life, as follows.. FiAtufes, fittsngs & ¢qUipmeTht Computers 10% straiglit line 33.3% straight line 1.5 Investments Investments are statèd at market value at the balance sheet date using rnid-rnarket closing v31ues. The ststernent of Finanaal Acttvities tn¢ludes the Tret gains and losses arising on revaluations and dispo1$ throughout the year. 1.6 ShEtrt-termdebtor5 alld credtors Debtors are recognised when the Charity is legal entitled to the income after any perfomiance conditions have teen met, the amount can be measured reliably and it is probable that the income wlll be received. Creditors are recogni5ed when the Charity ha5 3 present legal or construdve 014igation resulting from a past event to make payrnent to a third party, it is probable that settlement will be required and the amount dueto 5etde the obligation Can be measured or estimated reliably. 13
FELLOWSHIP OF ST JOHN (UK) TRUST ASSOCIATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDEO 31 DECEMBER 2024 1.7 Flnanclal Instrurnents The charitoble cofflpany only has finanoal assets and financial Ilabilifjes of a kSnd that quallfy as baslc ffftanaal Instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at thelr settlement value. 1.8 Fund Ac¢ountlll8 General funds are unrestricted funds whith are avallable for use ai the dlstretion of the Trustee iTt furtherance of the general objectives of the Charity and which have not been designaled for othef purposes. Resiricted funds are funds which are to be used In accordance with spetlflc restridions Imposed by donors which have been raised by the company for particular purposes. Currently all the Charit¢s funds are unresiricted. 1.9 Company status The company is a eornpany limited by guarantee. The mernbers of the company are the Trustees named on page l. In the eveTht of the company being wound up. the liability in respett of the guarantee is limited to £1 per member of the company. 14
FELLOWSHIP OF ST JOHN (UK) TRUST ASSOCIATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 Voluntary Income 2024 other Donations 36 £36 Investment Income 2024 2023 Dividend5 253,434 248,251 InCce from fixed interest and cash deposlts 11,520 Fellowship of Stlohn IUKI Trust Association share 258.841 259,771 Total inve5trnent income frorn portfolios 339,39B 340.619 Transferred to SGT, SHC and SSJE (see below) 180,5571 180.8481 Felltsw5hip of Stjohn IUKI Trust Association share £258.PAI £259,771 As explalned in note 15, in 2015, the investments in St George's Trust, Sisterhood of thé Holy Childhood and Society of St John the Evangelist were transferred to FSJ. Only FSJ'S share of Investment incorne is reflected through the Statement of Financial Activities. Net assets tr•rtsfvrred toth• FdlowshTrpof St A)hn IUKI Trnst 2024 St George's Trust 942,059 Sisterhood of the Holy Childhood 374,620 Society of Stjohn the Evangelist 2,378,980 £3,695,65Y The Association Is the corporate trustee of the three Trusts listed above. On the 24 Decernber 2024 the net assets of these trusts were transferred to the Association and are now included as restricted funds within the Association. Total resouytes expended Administrator costs Other ¢osts 2024 2D23 Charttable actlv6tle5 Grants INote 61 Support costs Governan 260,286 34,390 25,816 18,430 45,938 26tl,286 53,083 25,816 18,430 45,938 318,552 62.697 18.337 2L813 45.633 18.693 Legal fees for the merger Investsnent rnanagement fee Totsl re50urce5 expended £18,693 £384,860 £403.553 £467.032 15
FELLOWSHIP OF ST JOHN {UK) TRUST ASSOCIATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 Grants The followrng grants were awarded during the year.. Gr4nts awarded out51de the UK 2024 Hope foryouth in Zimbabwe Support forTariro Youth St Saviour Cl?remoTrl, South Africa Stations of the Cr055 Holy Spirit. Gweru Chapel roof Anglican Council of Zimbabwe Chalets for the Befnard Miieki Shrine Kathryn's Mercy H(xne, India Sponsorship for ten %ryllage girts major8rlntsaTded{Sk •nd overl St Matthes Nursing ProRct St Peter & St Leonard Horbury Si Catherine's Burn¥ Centre manager Ribbleton Church District Council FundirE for admintstrator Forward in Faith National Anglo-catholic initiative All Saints New Longton Youth worker Blank Canvat Vaut.4 i'iorker St Johtt the Baptist Mexborough Children and families worker St George's Preston Organist/dirertDr of music Ollerton & Boughton PCC Youth and schools worker St Agnes & St Pancras Liverpool Choral director and four scholars St Luke Cheiienham Ministryassi5tant for youn8 people St Margaret Rotherham Children and families worker St Michael Heaviiree Choir thurclt, singing, Social juslice St Cliad'¥ PLC Biddlord Boiler replacement Iti diurth Society of the Sacred Cxoss Imptovements to acce55 and facilities io,c 8,5LX) 15,(KlJ 1S,(XMJ 13,088 10.5(KJ io,( io,(KK) iQ,(KK) iO,(KK) Other grnnt$ Accomplish Children's TrustTo develop Rwenzoni Special Needs FoundatSon new phasè St Catherlne's Burnley Choir Church funding fgr tutor and ctrordinotor St Michael All Angels Walsingham Youth '18rImage Holy Family Failsworth Walsingham Youth PilgTima8e st Albang Sduth Norwejod WAl£ingharn Ynuth Pil¢rirnage Parish of Swindon NewTown waInghaM Youth Pilgrimage st Helen's Auckland Walsingham Youth Pilgrimage 5t Nichola5 Fleckney Wa15ingham Youth Pilgrimage 5t Matvs Wille5den Walsingharn Youth PirirnaKe ROOT Monastic Trust MonastK taster day 5t Mary Kenton Website developrnent 2,720 1,250 1,250 1,250 1,250 1,250 1,2(X) I,i(KJ 731 Schol•rshlps and Bursarie5 University of the Wellern iape Scholar5hip5 and Book Granis Grants uwardedfrofft the Bernurd Alizeki Trust.. Pusey Housè Oxford Internship for two pastoral assistants North London Pastoral Assistants Two pastoral asslstants for one year St Stephen's House Benson Scholar Ewan Gillings 12,297 29,4 18.(XX) 12.(XKI 1.70) Total £280.286 16
FELLOWSHIP OF ST JOHN (UK) TRUST ASSOCIATION NOTESTO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 Auditors RernunerntiDn 2024 2023 For Audit Services £5,940 £5,7(K) Admlnlstwator C05t5 2024 2023 Administrotor costs 18,653 £18,693 12,395 £22,399 The administrator is a free18r contractor. The charity doe5 not employ any 5taff12023.. Nil) Trustees Trustees are not remunerated. E5ght trustee5 were reirntjursed tr3vel and subsistence expenses that they personally inojrred or which were incurred by the charity for overseas inspection trips and meetings of £30,39712023.' £24,394). D*Jring the year the charity paid £667 for trustee indemnity insurance12023.. £6671. Good governanee obllges trustees to periodically visit foreign locationslo assess new grant applications and review the usage of grants awarded. 10 FNed a55et investments ZQZ4 Market value at l January2024 Additions 9,232,CQ9 2,874,973 1272.5691 744.4106 11,583,197 895,639 I3.644.(9) 397,182 Disposals at book value Movement in Market Value of InVrnents 12.578,819 87,360 9,232,(9 2.803,153 I2.859,)) £9,175,262 Cash held for Investment Le&s.' Share of investments held on behalf of SGT, SHCand SSJE £12.666.179 As explained in note 15,1Th 2015 the investments in SGT. SHC and SSJE were transferred to FSJ as a fom) of common investment fund. Only FSJ'S share of the movement in market value of flxed asset investments is reflected through the Association's Statement of Finantial Activifjes. The total Movement in market value of investments was a gain of £744,406 of which £121.074 was credited to SGT. SHC and SSIE to give net gains of £623,332. With effect frorn 24 December 2024 the net as5et5 of SGT, SHC and SSJE were transferyed to the Association and are refierted within the restticted fundslsee note 131. Investments at Market Value comprised.. Rathbones Investment Management Mclnroy and Wood Sarasin and Partners 3,584,W 2,901.271 6,093,442 £12,578,819 3,573,325 5,658,684 £9,232,Q)9 17
FELLOWSHIP OF ST JOHN (UK) TRUST ASSOCIATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 11 Dei)tors 2024 2023 Owed by Slsterhood of the Holy Childhood 60,476 Sundry debtor5 29,072 I4,(5 Prepayrnents and accrued income 4,256 2,128 £33,328 £76,669 12 Credltors: arnounts fallln8 due wtthln one 2024 2023 Amounts owed to St George'sTrust Arnounts owed to Society of St John the Evangelist Accruals 27,326 683,304 15,753 19.152 Grants payable 82,30] 65.CO) £IOL452 £791,383 13 Fund movements Restrlcted fund5 Income Fun41s RevaatIOn Resekves Total At l January 2024 Incorning resources Resources expended Net assets transferred 5,863,150 258,841 1403,5531 2,653.39J 8,516,540 258,841 1403,5531 3,695.659 623.332 3,695,659 Gain on investments 623,332 £3,276.722 At 31 Detember 2024 £3,695,659 £5.718.438 £12,690,819 priorlIT Desl8n3ted Funds Income Funds Revaluatbn ReseNes Total At l January 2023 Incomin8 resourcès Resour5 expended Gain on investmems 36,340 6,034,035 259,807 1430,6921 2.319,298 8.389,673 259.807 1467,0321 334.092 136,3401 334,092 At 31 December 2023 £5,863,150 £2.653.390 £8.5L6.540 18
FELLOWSHIP OF ST JOHN (UK) TRUST ASSOCIATION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 13 Fund rnovementslcontlnuedl ArtTlYS o/rtstrtctedfvn¢ts cLtnYnt year G•lnslbsses Resourtes on Transfer of At empendèj Investments net assets 3111212024 Incomin8 resources 0110112024 St GeoTge'5 Trust The Society of St John the Evangelist Sisterhood of the Holy Child 942,059 942,059 2.378,980 2.378.980 374.620 374.620 £3 695 659 £3 695 659 The purposes of the funds are as follows: St Georye's Twst Is to aid and further the work at home and abroad of the Church tsf EnEland and of ehurches in communion with the Church of England, in such a manner as the Trusiee shall in its sole and uncontrolled discretion think fit. The Sorlety of St John the EnIell$t 15 to aid mi55ionary works and education for the advancement of the Kingdorn of Christ. Slsterhthjd of thé Hoty [1d Is for promotion of rellgion by thè tÈathing of children in elementsry schools in onnertign with the Church of En8land. in such a manner as the Trustee shall, in its role and uncontrolle dlscreiion, see flt. 14 Anatysls of net assets between fvnds Restrkted Funds Income Total Inveslments 2,812.347 .577.110 1858.6721 £5,718.438 3,276,722 12,666,179 24.640 Net Current knabilities 883,312 At 31 Oecember 2024 £3,695,659 £3.276,722 £12,6,819 PrIorr RestrlLted Funds Incorne Funds RevaknatK*n Reserles TLtal Investments 6,521,872 1658,7221 £5.863,150 2,653,390 9.175,262 1658,7221 E8,516,540 Net Cvrrent tiabilities At 31 December 2023 £2.653,3 19
FELLOWSHIP OF ST JOHN (UK) TRUST ASSOCIATION NOTESTO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024 15 Related partles The Fellowship of Saint John IUKI Trust Association IF5J IUKI TAI is a corporate trustee of the fcllowing charrties and had the following inter-company attount balances with them at 31 December 2024.. FSJ IUKI TA owed to St Georee's Trust £nil 12023.. £27,3261- Note 12 FSJ IUKI TA owed to The Society of Saint John the Evangelist £nil12023- £683,3041- Note 12 FSJ IUKITA is owed by the Sisterhood of the Holy Childhood £nil12023'. £60,4761- Note 11 Up until 24 Decernber 2024 the transaEtions of St GEorgé5 Trust15GTI, The society of St John the EvanEellst IS5JEI and Sisterhood of the Holy Childhood ISHCI are initially made on their behalf by the Fellowship of St John IUKI TIu5t A550(iatioD and are sub5e4uently transferred to the appropriate charity through the inter- charity currént atcounts. Perigdically inter-charity current accounts are deared by payments of amount5 due. The Revd Grant Naylor is a member of the governsng body of St Matthew's PCC, whtch was in receipt of a Eiant for £15.ClXI to fund a nursing project. (note 61. The Revd Grant Naylor pkqyed no part in the application for funding and withdrew frorn the board meeting, when the grant approval was rnade. In 2015, the investmenis in SGT, SHC and SSJE were transferred to FSJ, and splSt equally between Rathbone5 Investment Management and, at that time, Investec Wealth & Investmen[ wlth ihe alm of M8MIS1n@ returns and minirnising costs in the mediurn to long term. Investment income, investment gains/losses and rnanagernent fees are apportioned to all four entities based on the value of their share of the initial aggreeate investrnent. FSJ recognizes its share of income, gainsllosses and management fees through the Slatement of Finar*cial Actwities and the three small charittes receive their share of the returns annualfy through the inter. cornpany accounts. With effect from 24 December 2024 the net assets of ihe three tnjsts were transferred to FSJ IUKI TA and these trusts became restritted fundswithin FSJ IUKI TA. 16 Re5tatementofcomparatives As a result of additional inforrnation providèd by twrth Df e.hArit¢< invpEtmpht mAnAgprÉ %xraEin 4nd Mclnroy and Wood, previously unidentified investment transaction costs are now tnduded wthin fundraising costs. This has resulted in an increase in fundrai51ng costs of E3L182 offset by an equivalent increase in Eains on investments. There 15 no impact on the result for the preceding year or financial position as at 31 December 2023 or for prior years. 20