                 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 ￿n0￿ce 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 spen￿r (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. STRI￿URE. 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 f￿nd rai5ifi& biit b￿efi 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 l*vestments. Also included In ihe manual are job descript￿￿5 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 A￿￿lTIEs The Trust Is engaged in mi55ionary and educational works for the advan￿ment 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$50ciated with the Angl￿8￿ Religious Order of the Society of St John the Evareelist ISSJEI. Our mission staternent, Msion and Dbiectives hève been recently developed and seek to define us as a body and the nature of our mission to enable us to be'fit for purpose, in the 21, Century. FSJ Mlsskjn Ststement "Seryinq God... Serving athers... Tmnsforminq lives" Mlsslon Vl$h)n Build up thebody olchrist by iesponding to theneeds olothers Mlsslon Oblertfves Hove Gospel volues t7titsheort 0nde￿5t 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 dIs￿Mment 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 ne￿Ssary 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 previo￿5 year. At the rneetinB in Novern￿r 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 NI￿ne Creed. 4k Supportln4 TransfOrMat￿n 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 ￿$it to India for some time and w*tilst the Directors are aware of the need to make this happen there are no plan5 a5 do so at the rnoment.. thi5 will be reviewed in 2026. The Trust is minded tt> have a Safeguarding review in 2025 in order to ensure we have the best PQSsible policies and procedures. Thè Trust look5 tofward with conlidence, trusting always in ChTlSt our Sawour. FELLOWSHIP OF ST JOHN {UK) TRUST ASSOCIATION TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 FINANaAL REVIEW The result for the ye?r is disc105ed in the Staternent of Financial Actiwties on page 11. This indicates a net increase in unresiricted funds of £478,620,12023 increase.. £126,867). On the 24" December 2024, the net assets of St George's InJsL Sisterhood otihe Holy ihildhood and the Society ot 51 John the Evangelist were merged with the Fellowship of Sl John IUKI Tru5L The assets transferred are stated In note4. The purpose of the Trusvs reserves policy is io ensure that li is able to meet it5 obligations and finance its planned future aCti￿7t1e$. 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 A￿NITy 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 Indi￿dUal 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 compo￿te 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 rnark￿5 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 envirc*nmental, social and 8overnance factors IESGI followed by our investrnent mana8ers to inform their deasion- making. RISK MAhlAGEMENT The Tr￿st 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 0￿r Mission Staternent, Vision and Objectives to check how we operate and perform,. continue to develop whai an FSJ Mi55ioD •Trd F3J Mlnlsiry SI￿￿1￿ look Ilke," ft*cus 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 pruden￿V, 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 Practi￿1. iHcludifig Financial Reporting Standard 102 Yhe FSnancial Reporting standard applicable in the UK and RepU￿1C 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 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£ r￿ordS 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