REGISTERED COMPANY NUMBER: 02114948 (England and Wales) REGISTERED CIIARITY NUMBER". 297013 rt of the Trustees and Flnancial Sta ments for the Year Ended 31 December 2024 atlonal & Generdl Charitsble Trus The WrHJM Vigar Limited Statutory Auditors Chartered Accountsnts & Business Advisers 15 Newland "ncoln Lincolnshire LN1 1XG
on ational & General Charitsble Trus The Contents of the Financial Statemen for th Year Ended 31 r 2024 Report of the Truste88 Report of the Independent Auditors ststement of Financial Actlvities Balance Sheet 10 Cash Flow Statement Notes to the Ca$h Flow Statement 12 Noles to the Financlal Statements 13 to 19
Con Trus ational & General Charitsble R Istered number: 02114948 Re ort of the Trustees for the Year Ended 31 December 2024 Introduction The trustees of The Congregational & General Charitable Tmst have pleasure in presenting their Annual Report togèther with Ihe Financial Statements and Auditors Report of the charitable company for Ihe year ended 31st December 2024. The Annual Report *rves the purpose of both a Trustees Report and Directors Report under company ConStUtion The Company is a charitable company limited by guarantee. incorwrated on 24 March 1987. The Company was established under a Memorar)dum of Association which 8stab&'shed the objects and powers of the Company and is govemed under its Articles ofAssociation. The directors of the Charilable company (Ihe Chariv) are its trustees ft)r the purpose of cJ)arity law, and constitute the Council of Management in accordance with the Articles of Assooation. The details of the trustees who served during the year are induded in the Referen(% and Administrative details on page OBJECTIVES AND ACTivrriES Objectives and alms The charitable companls principle object is to promote the Christian religion and in particular the Untted Refonned Church and Congregational denominations and other churches (whether wholly independent or associated with or united Vth another church or group of churches) which are of Protestant tradthon. They also have an objective to Contr1tle to the fijnds of any charitable inst1110nS, assocAations, funds or objects to carry out a charitable purpose. Its principal activity continues to be that of helping sustain places of worship and Christian projects by the making of grants. The charitable company also conlrilxrtes to the funds of other charilable institutions. The Charity CaleS out these objectives by making grants to the churches mentioned above to assist Iheir congregations to maintain their places of worship and enable Ihe support of the local communities many of which use the churches associated properties and buildings for various community projects. Grants agreed go towards supporknng the upkeep of the church propertiès. many of which can be either Grade 1 or 2 listed properties and are expensive to tnaintain. Assistance with damaged roots, dry rot and waler ingress are regular requests that have been supported. Other areas of support includ8 aSSistsn wtth disabilty a$s, disabilty toilets, window repairs and lighting and heating issues. Many of the churches hav8 Cnected buildings housiTrJ o)mrnunty centres which go to support various community groups and small charitable organisations. These include dementia groups. youth groups, food banks and breakfast clubs for exafflple. It is also important these properties are maintained to ensure that these groups can continue to support their local communities. In setting our objectives and planning the CoMpanS activitses. the members of the Council of Management have given consideration lo the Charity Commission's general guidan on public benefft including the guidance "Public Benefit-. running a Charity (P82)' vthen future activilies are being planned and the Grant Policy is reviewed- in the overall furtheran of the Charity's actr4ities. the puilic benefit deIrry is Inherent within this. Page 1
Con Trust The tional & Generdl Charitable R Istered number. 02114948 rt f the Trustees for the Year Ended 31 December 2024 OBJECTIVES AND ACTivmES Grantmaklng pollcy All applications for grants and donations are considered at quarterfy meetings of the members of the Council of Management. An eStalSed Grant policy is in place and is reviewed annually to ensure that it is adequale for the Chartty to maximise its support of the churches and achieve Fts objectives. The TNst invites applications for grants from Churches by advertising in specialist publications, word of mouth, website promotion and slands at appropTiate evenls. AppliGants who have received a grant may not apply again for hvo years. There are certain areas that the Trust does not look lo support being njnning cosls, standalone solar panels, organ restoration. and projects costing over £1 million. For full deiails of exclusions please see the Trust's websrte. The awarded grants are nomally drawn down within a Iwi>year agreed time limit al a point when the applicants can prove that the project ha5 commenced and paid invoices to at least the value of the tolal grant can be submitted to the Trust.. The Trust's grant-making policy was established lo xhreve ils objects for Ihe public benefit in promoting the Christian religion [see Page 1 Objectives for full details] and in doing so enable churches to Improve the beneffts and general welfare of Iheir congregations and communilies. This 15 achieved by maintaining the properties vthich churches use for their w(Kship by improving andlor developing attached or adjoining buildings Ihat are used to SUPPOrt both the church and local communities. Details of how to apply for giants. together the relevant process, are available on the Trusl's website together with infonnation about the Trust and Case Studies supplied by churthes who have previously been supported by fhe Twst. STRATEGIC REPORT Financlal posltion Review of the Year 2024 has seen a good year for the Tnjst. with a steady irme stream and a fflarked improvemenl in investment values. Despite a continuing background of weak economic grovhh, inflationary pressures, geopolitical turbulence and transport disruptions, the recovery seen towards the end of 2023 has continued Ihroughoul 2024 resulting in an encouraging outcome and positive trends. Investments have increased ftom £17.5m to £17.8m and are Ihus nol far adrift from the 2021 yearnd value of £19m. The Trust has maintained Èts grant activity this year. SUPWling 79 (2023: 46) churches with grant5 paid from the bank of £964k {2023. £542k). This 5how5 the Trust's continued wmmitment to supporting churches. and significant growth over the past year. Although a large Charity in terms of rts financial assets. the day-to-day operations are relalwely straightfoard being the proSSIng of grant applications and the dose monitoring of the investments. with the income and possible portfolio growth being used to maintain the support which the Charity provides lo the churches and their communities. Overall. it has been a sUesSful year. managed well by the Trustees who continue to work hard to ensure that the assets are managed professionally. and that applications afe prOSSed wi a diligent and efficient manner. Below are examples of some of the grants paid txrt this year, a detailed list is induded wrthin note 5 of the accounts.. Brave Church, Oswaldiwistle Hook Norton Baptist The Well Baptist Church Lytham St Anne's St George & St Paul Tiverton Stones Methodist Church Ripponden St Giles Church Shipboume Heywood URC Northowram Lowther Street Congreg8tional Carlisle 8.0(Kl Conversion of counselling rooms 20.000 Drainage and masonry repair 20,OCKI Roof repair and timber replarnerrt 6,1(Xl Lighting irnwovement 20.000 Roof repair, solar panels arKI ground floor refurbishment 15,0(J) Repair lo stone wor 25.000 Roof repair and refurbishment of chapel oiling 2.000 Repla¢en*nt of gas heating and pew reordering Financial Revlew The financial statements comply wth the Charilies Act 2011. the Companies Act 2006. the Memorandum of Articles of Association. and Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their ac¢ounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102} (effective 1 January 2019). Page 2
Con Trus tional & General Charltabla istered number: 02114948 of the Trustees for th• Year Ended 31 December 2024 STRATEGIC REPORT Financial review Investment policy and objectives The Charity's trustee5 seek lo invest its funds in fixed inlerest. equty, and property funds some of whith are designed for charities and managed by professional fund managers. The Charity looks to achieve the best returns available from its investsmènts whilst seeking to maintain a spread of investfflent types with the inlention of reducing the level of exposure to mavket rates. To this end. the trustees have utilised the setwices of professional fijnd managers Investec and CCLA both of which are established and professional fund managers ¢)ffeT guidan and support to the trUstS in managing the Charitys investments. The professional advisors provide monthly and quartetly perfonnance repsNts and annual meètings are held to r&view performants, risk, markets, and other economic faclors. Additional meetings can be arranged if market uncertainties prevail. Perfomiance has been Salisfactory considering the uncertainties in the investment Maelplace and provid8s the Charity with the assurance thal it can continue to support future SUsSfiJh grant applications. With Investec the Trust h85 a Medium Risk Balanced Investment Strategy with an established net perforrnance benchmark agreed which is reviewed annually. There is an overall bènthmat set arKI separate nChMarkS in respect of overall exposure within the various assets held in the portfolio. The funds invested wÈth CCLA are within the Ethical Investment Fund, the aim being to provide a long-term total retum comprising growlh in capital and dislributions. This is an established hjnd suitable for the Chartty's aims of achieving a good level of distributions, long-term protectn from Inflatic together wilh a wide range of ethirAI restrictions. The Trust aims to achieve a retum in Ihe region of + 40 pa on the funds inveslèd and Gonsiders the performance this year lo be satisfactory considering the market volatilty experienced. Reserves policy The charitable company's r8serves consist mainly of investments held with Tts inve8tm8nt manager5, Invest8c and CCLA. Each year the charity aims at least to distribute its net investment income in the finanaal year in which it is received or in the hyo following years. The charitable company looks to ensure it aw has sufficient liquid fvnds to meet the payment of grants when they fall due. Grants are nomally drawn wrthin a hvLvyear period otheNiise they will lapse. With the levels of cash at bank. within the investments and the agreed fulure inve5tmenl IrMe stream. fijnds continue to be SLrfiaent to cover grants due and the operating overheads. Total charitable company reserves as at 31 Decembef 2024 were £16.607.881 {2023.' £16.705,070) which comprised negative free reserves of £1.174.750 (2023". £836.498) with no current restrictions or designations inherent or applied. These free reserves are negative due to commitments of the charty for future years. These commitments are tc be fijnded by future investment returns or by realising part of the investments. The remaining reserves, totalling £17.782,631 (2023.. £17.541.568} are tied up in irwestmenls but these too have no current restrictions or designations inherent or applied. Financial and rfsk management objectives and policie5 The Counul of Management activety review Ihe major risks vthich the charitable company faces. They believe the controls and syslem5 in place can adequately deal with risks 1¢h the charity is likely to face in the near futu. The Council of Management have a risk rnanagement strategy which comprises: - An annual review of the risks the Charity may face.. The establishment of systems and procedures to mitigate those risks identified,. and - The implementation of procedures designed to minimise any potential impact on the Charity should those risks materialise. The primary market risks in the charitable companvs irwestment portfolio is the fair value sensitlvty of fixed-income securities to changes in interest rates, and risks associaled with investmenls in lisled equty shares. Risk appetite is set by The Council of Mar]agement and then managed Ihrough the investment portfolio managers. Further infomiation on the Charity's investment policy can be found above. The Charttvs transactions are all in pounds sterling and therefore there is no exposure to a movement in exchange rates. HDw8ver. some of the Charitws inv8stments have underlying overseas assets and are therefore subject to fluctuation5 in value resulting from movements in exchange rates. Page 3
Con Trust The tional & General Charttable istered number. 02114948 of the Tru$tees for the Year Ended 31 December 2024 STRATEGIC REPORT Future developments As a grant making charty all developments are focused UPC maximisiry the number of churthes and communities that benefit from the Charity's efforts. The profile of the Charity continues lo be an area where efforts are being made in order to reach out to the churches needing help. The Trust 11 again advertise in the appropriate publications as in the previous year and look to expand Ihis further where possible. Attendance at various forums is also being researched and attendan at these wim be considered by the Trustees. An updated webstle has b8en developed. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The charity is controlled by Tts goveming documeFrt. a deed of trust. and constitutes a limited company, limited by guarantee, as defined by Ihe Companies Act 2006. Recrultment and apF>ointment of new InteeS Rotation of Members of the Councll Under the requirements of ihe Memorandum and Articles of Association. membership of the charitsble company is subject to rtain restrictions. These are thal a member shall be a member of a United Reformed Church, Congregational Church or other church of the Protestant Iradttion provided not more than three or 250k of the total, whichever is the lesser (who are not members of the aforemenlioned Churthes) may be individuals whc shall agree in writing to accept the objects of the charitabl8 company. At the Annual General Meeting in every year. one third of the members of the Counal of Management for the time being, or, if their number is not three or a multiple of three, then the number nearest one third. shall retire from offi. Those members of Council retiring through this rotalion are eligible for reelection at the AGM. The members of the Council of Management retiring by rotation this year are Revend Parnela Ward. Mr Alastair Forsyth and Reverend Richard Tumbull and being eligible, offer themselves for lectIOn. The Members of the Council of Management have the power lo appoint additional members as it considers fit to do so. Due to the nature of the companvs charTlable status its source of income, the Cour)cil of Management seeks to ensure that the objedives of the charitable company are achievable through the diversity of skills within the trustees, composition. Oryanisational structure The trustees consider the Board of Trustees as key management personnel of the charitable company who are all members of The Council of Managemenl shown on page 5. The chantable company is currenlly run by ten trustees who meet on a quarterly basis to Gonsider the grant applications received. The truslees have individual responsibility for various aspects of the running of the chantable company including reviewing and prèsenting grant applications, the production of financial infomation. the organisation of the charitable companvs banking aangeMentS and development and management of the Charity's web site. There is also the support of a paid adrninistrator lo assist with the day to day management of the Charity as51Sting the trustees with the clerical aspects of running the Chanty. particularly wlh managing the grant applications received and also ensuring the charitable company complies yth th8 appropriale regulations. Th8 trustees are proactivety seeking to add to the Cwncil of Management wtth new tnjstees vtho have the required skills, commitment and time to support the oryoing WO of Ihe Charity. Induction and training of trustees momr$ of the Council of Management Induction and Tr4ining New members Df the Council of Management are provNJed the appropriate Charity Commission publications, including the Commission's guide Vhe Essential Trustee" and "Charty Finances.. Trustee Essentials" and these are distributed to all new members of the Council of Management along with the Memorandum and Arbcles and the latest financial statements. New members of the Council of Management are also required to complete a questionnaire which assesses their frtness for purpose as a member of the Council of Management and sign the Charities Commission usual declaration of suitability to be a trustee. REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 02114948 (England and Wales) Registered Chaiity number 297013 Page 4
Con Trust atlonal & General Charitable R istsred number. 02114948 for the Year Ended 31 December 2024 Registered offico 15 Newland Lincoln Lincolnshire LN1 1XG Trustees Ms M E Atkinson (resigned 3.9.24) Mrs S M Austin Mr D G Coote Mr A C Forsyth Reverend D Grosch-miller Dr A Hamnett {resigned 2.4.25) Mr J F Holffles (resigned 5.1.24) Reverend R l Tumbull Reverend P Ward Reverend C Bones Reverend M Aspinall (appcwnled 5.12.24) Auditors Wright Vigar Limited StalLrtory Auditors Chartered Aocountants & Business Advisers 15 Newland Lincoln Lincolnshire LN1 1XG STATEMENT OF TRUSTEES, RESPONSIBIUTIES The tmstees (who are also the directors of Congregational & General Charitable Trust(the) for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial slatemenls in accordance with applicable law and Uniled Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires Ihe trustees to prepare financial statements for eh financial year which give a tnje and fair view of the slate of affairs of the charilable company and of the incoming resources and applic2tion of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to select suitable acwunting policies and then apply them consistently.. observe the methods and principles in the Charity SORP.. make judgements and es&'males that are reasonable and pruden¢ state vthelher applicable accounting standards have been folowed. subject to any material departures disdosed 2nd explained in Ihe financial statements. prepare the ffinancial statements on going concem basis unless it is inappropriate to presume that th6 charitable company will continue in business. The trustees are responsible for keeping woper accounting records disclose with reasonable accuracy at any time the financial position of the charitable rnpanY and to enable them to ensure that the financyal statements comply Ih the Companies Act 20C6. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the wevention and delection of fraud and other iffegularities. In so far as the trustees are avrare.. there is no relevant audit infomiation ofwhich the charitable companws auditors are unaware,. and the trustees have taken all steps Ihat they ought to have takèn to make themselves aware of any relevant audit information and lo establish that the auditors are aware of that infonnation. AUDITORS The auditors, Wright Vigar Limited, WFII be proposed for rtrappointment at the forthcoming Annual General Meeting. Page 5
Con Trus The ational & Genernl Charitable istsred numbor: 0211 e Trus for the Year Ended 31 December 2024 Report of the trustees, incorporating a strat8gic report, approved by cffder of th8 board of truslees. as the company directors, on 2 Seplember 2025 and signed on the board's behalf by.. Reverend P Ward - Trustee Page 6
Re rt ofthe Inde ndent Auditors to the PAernbets of atlonal & General Charitable Trust Th Opinion We have audited the financial statements of Congregational & G8ner31 Charitable Trust(The) {the 'charttable company) for the year ended 31 December 2024 whith comprise the Statement of Finanal Adivities, the Balanc8 Sheet. the Cash Flow Statement and notes to the financial ststement5. induding a summary of significant acrx)unting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted A(xounting practi). In our opinion the financial statements: give a Irue and fair view of the state of the charitable CoMpanS affairs as al 31 December 2024 and of its incoming resources and application of resoUs, including its income and expenditure, for the year then ended,. have been properly prepared in accordan wrfh United lfjngdom Generally Accepted Accounting Practice" and have been prepared in accordan with the requirements of the Companies Act 21YJ6. Basis for opinion We conducted our audit in accordan with International Standards on Auditing (UK) (ISAS (UKII and applicable law. Our responsibiliti'es under those standards are fvrlher described in the Auditors. responsibiltties for the audit of the financial slalements section of our feport. We are independent of the charitable company in accordance with the ethical requir8ments that are relevant lo our audit of the financial statements in thè UK. including the FRC'S Ethical Standard. and we have fulffilled our other ethical responsibilities in attordan Vth these requirements. We believe that the audit evidence we have obtained is sufficient and appropriale to provide a basis for our opinion. Concluslons relating to yolng concern In 8udiling the finanGial slalements, we have nduded that the trustees. use of the going concem basis of aUntIng in the preparation of the finanGial statements is appropriate. Based on the work we have perfomied, we have not identified ary material uncertainties relats.ng to events or conditions that, individually or collectively. may cast significant dbl on the charitable companys abilty to continue as a going concem for a period of at least iwelv8 months from when the financial statements are auihorised for issue. Our responsibilities and the responsibililies of the trustees with Tespect to going concem are described in the relevant sections of this report. Other inforniation The trustees are responsible for the other information. The other infomialion compnses the infomiation included in the Annual Report, olher than the financial statements and our Re of Independent Auditors thereon. Our opinion on the ffinancial statements does not (x)ver the other infomialion and, except to the extent otheTh¥ise explicttly stated in our rep)rt. we do not express any form of assurance rA)nclusion thereon. In connection with our audit of the financial ststemenls, our responsibility is lo read the olher information and, in doing so. consider whether the other information is materially inconsistent with Ihe financial statements or our knowledge obtsined in the audit or othémise appears to be materially misstated. If we identify such material inconsistencies or apparent material misststemenls. we are required to detemiine vthether this gives rise to a material misstatement in the financial statements themsefves. If. based on the work we have pertomed, we condude that there is a material misstatement of this other infomalion. we are required to report Ihat fact. We have nothing to report in this regard. Oplnions on other matters pres¢ribed by the Companies Act 2006 In our opinion. based on the work undertaken in the rnurse of the audil.. the infomiation given in the Report of the Trustees for the finanaal year for which the financial statements are prepared is consistent with Ihe financial statement5", and the Report of the Truste8s has been prepared in aCcOrdae with apFAiGable legal requirements. Matters on which we are requlred to report ty exceptlon In the light of the knoedge and understanding of the charilable c(xnpany and its environment obtained in the course of the audit, we have not identified malerial misstatemenls in the Report of the TTUStees. We have nothing io reporl in respect of the following matters where the Companies Act 2006 requires us to report lo you in our opinion.. adequate accounting records have not been kept or returns adequate for our audit have not been received from branches nol visited by us., or the financial stalements are not in agreement wrth the accounting records and relums," or certain disclosUS of truslees, remuneration specified by law are not made" or we have not reGeived all the infomiation and explanations we require for our audit. Page 7
rtofth Con ndent Audllora to the Members of nal & General Charitable ati Responslbllltle8 of trustse3 As explained more fulty in the Statement of Trustees, Responsibilitres. the trustees (who are also the directors of the Charitable company for the purposes of company law) are responsible for the pparatIOn of the financial statsments and for being satisfied that they give a truè and fair view. and for such intemal control as the trustees d8lem)ine is necessary to enable the preparation of financial ststements th31 are free from material misstatsment. whether due to fraud or eor. In preparing the financial statements, the trustees are respon5ble for ass8SSiry the charitable companls ability to ontinua as a going cOnm. disclosing. as applicable. matters related to going concem 8fKI using the going concern basis of accounting unless the trustees either intend lo liquidate the charitable company or to 8$e operations. or have no realistic altemative but to do so. Our responsibilities for the audlt of the financlal statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material mi5StatemenC whether due to fraud or error, and to Issue a Report of the Indendent Audrtors that includes our opinion. Reasonable assurance is a high leve5 of assurance. but is not a guarantee that an audit cOndued in acu)rdance wth ISAS {UK) will aayS detect a material misstatement when it exists. Misstatements arise from fraud or error and are considered material if, indivtdually or in the aggregate, they could reasonably be excted to influ8nc8 the economic decisions of usets tsken on the basis of these financial statements. Tha extent lo vlhich our prooedures are pable of dete¢tMig irTegulanti8s. including fraud is dptailed below.. Our work is perfomed to include an assessment of the sUp"bI1ty of the enlitys finanual statements lo material misststement, including the risk of fraud. ¢Ing to the inherent limitations of an audit, there is an unavoidable risk that material misstatemenls in the finanual statements may not be detscted. even thou9h the audit is properly planned and perfomed in accordanc8 With the ISAS (UK). In identifying and asse55ing risk of material misstatement in reyct of irregularities. including fraud and non-compliance vthh laws and regulations. our procedures included the followng: - We plan our work to gain an undarstanding of the significant laws and regulations th* are of signfficance to thè entity and the sector in which they operate. We perfomi our work to ensure that the entty is complying with its legal and regulatory frarnèwork. We obtsined an understanding of how the company is complying those legal and regulatory frameworks by making inquiries to the management and people charged with govemance. We assessed the Susp14blIIty of the Ccrfnpatys finan¢ial statements to material misstatemeDL in¢buding how fraud might occur. Audit procedures performed by the engagement tsam included.. - Substantive procedures perfomied in accordance with the ISAS {UKI. - Challenging assumptions and judgments made by management in its siwificant accounting estimates. Identifying and testing joumal entries, in particular material joumal entries and an assessm8nt of year end joumals. - Assessing the exient of Complian smth the relevant laws and regulations. A further descnption of our responsibilities for the audit of the financial ststements is located on the Financial Reporting Council's websrte at ww.frc.org.ukJaudf(orsresponsrbilities. This d8scription fomis part of our Report of the Independent Auditors. Us• of our report Thi5 report is made solely to the charitable company's MeMbs, as a bcwjy, in accordancè with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work ha5 been undertaken so that ¥ might state to the charitable company's members those matters we are required to state to them in an auditors. report and for no other purpose. To the fvllest extent pem)itted by law, we do not aGrEpt or assume responsibility lo anyone other than the charitable company and Ihe Charitable company's members as a body, for our audit work. for this report or for the opinions have fom18d. Paul Colcomb FCCA (Senior Statutory Auditor) For and on behalf ofwright Ifigar Limitsd Stalutory Auditors Chartered Accountants & Business Advisers 15 Nawland Lincoln Lincolnshire LN1 1XG 10 Septembèr 2025 Pagè 8
tional & General Charilable ststement f Flnancial Activtties for the Year Ended 31 December 2024 2024 Unrestricted fund 2023 Totsl funds Notes INCOME AND ENDOWMENTS FROM Investrnent income 533,720 EXPENDITURE ON Raising funds 14.812 13.369 Charitable activitles Grant making Raising funds 1,323,274 779,236 44,927 Ti)tal 1,385,080 837,532 Net gains on investmenls 739,343 1.012,694 NET INCOMEIIEXPENDITURE) (97.189) 708,882 RECONCILIATION OF FUNDS Total funds brought foNard 16.705,070 15,996,188 TOTAL FUNDS CARRIED FORWARD 16,607,881 16,705,070 The tyrtes fomi part of these financial stalernenls Paoe 9
ational & General Charftsble istered number: 02114948 Trus Balance Sh 31 Decem r 2024 2024 Unrestricted fund 2023 Total funds Notes FIXED ASSETS Investments 17.782.631 17.541,568 CURRENT ASSETS Debtors Cash at bank 30,458 221,942 35,117 218,944 252.400 254.061 CREDITORS Amounts falling due within one year 10 (1.427,150) {1,090,559) NET CURRENT ASSETS {1,174,750) (836.498) TOTAL ASSETS LESS CURRENT LIABILITIES 16,607,881 16,705,070 NET ASSETS 16.607,881 16,705.070 FUNDS Unrestricted funds 11 16.607.881 16.705,070 TOTAL FUNDS 16,607.881 16.705,070 The financial sialements were approved by the Board of Trustees and authorised issue on 2 Septembèr 2025 and wère signed on ils behalf by.. Reverend P Ward - Trustee Mrs S M Austin - Trustee The notes fomi part of these ffinanaal ststements Patse 10
Con ational & General Charitable h Flow Slatefflent for the Year Ended 31 December 2024 2024 2023 Cash flows from operating activitie8 Cash generated from operaticffjs {1.043,830) {686.373) Nel cash used in operdting a(*ivtbes (1,043.830) 1686,373) Cash flows from investlng actlvltles Purchase of investrnents Sale of investments Interest recaived Dividends received {1.397.200) 1.895.480 4,828 543,720 (2,C60,462) 2,342.631 2,381 531.339 Net cash provided by inve6ting artivities 1,046,828 815,889 Change in cash and cash equlvalents in the reportlng perlod Cash and cash equivalents at the beginning of the reporting period 2,998 129,516 218.944 89,428 Cash and cash equivalents at the end of the reporting period 221.942 218.944 The note5 form part of these financial statements Page11
Con onal & General Charitable Notes to th Cash Flow Statement forthey ar Ended 31 December 2024 RECONCIUATION OF NET IEXPENDITUREYINCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES 2024 2023 Net lexpenditure)Ilncome for the reporting period las per tho ststement of Flnancial Aclivities) Adjustments for: Gain on investments Interest receiv8d Dividends received Decreasel(increase) in debtors Increase in Greditors (97.189) 708,882 (139,343) (1,012,694) {4,828) (2,381) (543,720) (531,339> 4.659 (2.914) 336,591 154,073 Net cash used in operatlons {1,043,830) (686,373) ANALYSIS OF CHANGES IN NET FUNDS At1.1.24 Cash fiow At31.12.24 Net cash Cash at bank 218.944 2.998 221,942 218,944 2,998 221.942 Total 218,944 2.998 221,942 The notes form part of these financial statements Page 12
ational & General Charitsble Notes to the Financial Sts ments for the Yeor End 31 cember 2024 ACCOUNTING POLICIES Basls of preparing the financlal statements The finanrAal statements of the charitable company. which is a public benefit enlity under FRS 102. have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Chariliès.. Staternent of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) {effective 1 January 2019)., Financial Reporting Standard 102 The Financial Reportin9 Standard applicable in the UK and Republic of Ireland, and the Companies Act 2CM)6. The financial ststements have been prepared under the historical cost onvention. with the exception of investments which are indud8d at market value, as modrfied by the revaluation of certain assets. Income All income is recognised in the Statement of Finanaal Activities On the charity has entitlement to the fvnds, it is probable that the income will be received and the amount can be measured reliably. Expenditure LiabilÈties are recognised as expendilure as soon as there is a legal or constnjciive obligation committing the charity to that expenditure. it is probable that a Iransfer of economic beneffts wll be required in settlement and the amount of the obligation tan be measured reliably. Expenditure is accounted for on an accruals basis and has beèn dassified under headings Ihat aggregat8 all cost related to Ihe cate90ry. Where costs Gannot be directly attribLrted to particular headings they have been allocated to activities on a basis consistent with the use of resoUrs. Grants offered suLry"ecl to conditi'ons %vhich have not been mel at the year end date are noted as a cornmitment but not accrued as expendilure. Taxatlon The charity is exernpl from corporation tsx on its charikat4e activities. Fund accounting Unfestricted funds can be used in accordan with the chaiitable objectNes at the discretion of the tTUSteès. Restricted funds can only b8 used for parli¢ular restrthd purposes wrthin the objects of the charity. Restrictions arise when speciffied by the donor or when funds are raised for particular restticted purposes. Further explanation of the nature and purpose of eath fund is induded in the notes to the financial statements. Investments Inve5tmenls are initially recognised al cost and jUSted to the ojrrent market value at the réporting date. INVESTMENT INCOME 2024 2023 Investmenl income Interest receivable 543,720 4,828 531,339 2.381 548.548 533.720 Page 13 continued...
Co ational & General Charitable The s to the Financial Statements - continued for the Yèar Ended 31 Der*mber 2024 RAISING FUNDS Inve8tment managemènt costs 2024 2023 AdministratÉve expenses 14.812 13,369 CHARITABLE ACTIVITIES COSTS Grant funding of activbties (see notè 5) Support costs Isee note 6} Totals Grant making Raising funds 1.305,700 17,574 46,994 1.323,274 46,994 1.305,700 64,568 1,370,268 GRANTS PAYABLE 2024 2023 Grant making 1,305.700 763.100 Page 14 cor)tinued...
tional & General Charitsble Notsg to the Financial Ststements - continued for the Year Ended 31 December 2024 GRANTS PAYABLE - continued Church Grants Awarded Grants Awarded in March South Harris Free Church of Scotland St Marfs Church Dalton in Furness St Georges Fatfi8ld Hope Church Leith St Annes Bewdley Bawdtip Parochial Church Bridgewater Christ Church Broadstairs All Saints Cantetbury All Saints Cawthome Christ Church Nailsea Galeway Church Poole All Saints Soulhill Norristhorpe URC All Saints Mimon Emest Woking URC Wellingborough URC Grangetovm Baptist House of Grace Neongrange Parish Church Lapford Congregational Habour Church Folkstone 12.000 15,1)JO 15.0 20,000 15,000 1,200 4.200 15,000 15,0 15,000 12,000 10.300 5,000 15,000 25.000 25,000 9,600 12.0(H) 20.000 9,600 20.000 290,900 Grants Awarded in June Castle Archdale Enniskillen All Saints Okehampton st Marks PCC of the Ecclesiastical Parish of West Cheltenham st Mary the Virgin Kenton Llay Community Church of the Nazarene St Helens Bideford St Andrews High Wycombe St Margaret of Antioch Wellington Zion URC Northallteron Grange Methodist Church Grange over Sands Wymondham Baptist Church All Saints Hethel Bradley Methodist Church St Michaels Church Blundersands Liverpool Sl Mary Magdalene Church Ruckinge PCC Ashford St Andrews URC Cheltenham Hall Green United Community Chur(* BInInghaM St John the Divine Rastrick Brighouse Kilmallie & Ardnatnurchan Free Church St Peters Church Brighton St Marks Portabello Espiscopal Chuth ScotlaThJ West Park Harn)gate Sindair Seamens Presbyterian 10,300 15,000 15,000 1,700 1,000 10.WO 15,O¢X 15,000 25,000 20,000 20,OJO 6.CVJO 20,QOO 15,000 15,000 25,000 2.400 4.400 19.800 15,000 15,000 20,000 20,OtKI 330,300 Grants Awarded in Se tember St Ninians Slerfing Scotland St Margaret of Anlioch Coventy St Helens Pungar Sterling Methodist Church Hope Community Church Leicesler Dartford Methodist Church Ashboume Elim Churth Bethesda Cardiff Wheatley Methodist Church Bumley 13,900 15.000 1,400 20.000 20.¢1 5,000 20.000 20,000 7.500 Page 15 continued...
Con ational & General Charitable Notss to the Fln ncial Statements - c ntinued for the Year Ended 31 December 2024 GRANTS PAYABLE - continued Eslon Christian Family Centre All Sainls Horsfor(I St Thomas Greetland Halrfax st Michael & All Angels Plumstead Whrttle5ford URC City Church Dundee St Stephen Greal Wigborough All Saints Ewell Sl Mary the Wirgin Westrnill St Paul's PCC Kings Cros5 Halrfax Portscalho Uniled Church Truro Church of the Cross London The Redeemed Christban Churth of God the King St Luke's Maidstone st Peter and St Paul Yalding Wreyfield Drive Methodist St Thomas Old Chadlon Whixley Parish Church RCCG Restoration Chapel Newcastle 15.ClOO 9,200 10,500 4,500 25,000 20.1 6.000 2,7( 15,000 15.000 23,000 4,8QO 8,400 15,000 5,ODO 3.000 15,000 5.000 20,000 344,900 Granls Awarded in December All Saints Church and Hall Marpwl Christ Churth Ewell Toton Methodist The Key to Lrfe Clwrch Driffield Nairn URC St James Seacroft Leeds Sharon Full Gospel Church St Mary's Stoke by Nayland Hillside Church Gateshead North End Baptist Portsmouth Qaystone Chapel Buckley & Deeside Methodisl Tabernacl Penrhyndreath St Sampson South Hill Holy Trinity Banbury Rodborough TabemaGle Church of Sl John the Evangelisl Holy Trinity HoThvich Tranent Communty Church Musselburgh SS Peter & Paul Market Overton Grace Church Kiddeminster Chflst Church Kilndown Pinehurst Community Chuich Highham Congregational Church Roc*esler Leyland Baptist st Mary the Virgin Hook Sl John the Baptist Sutton at Hone St Bamabas Kensington Westborough URC Hill Cty Pontypool St Martin's Liskeard 10,500 20,000 8,300 2,700 11,100 s,0 2,100 15,000 7,800 20.QOO 20,000 20,000 15,OCpJ 15,OQO 24,300 5,100 15,(XJ) 20,000 6,OlX) 20,000 15,DOO 20,000 12,900 20,000 15,OJO 15,000 15,000 14,5Crf) 20.000 15.000 425,300 Grants lapsed within the year (85,700} TOTAL GRANTS AWARDED 1,305.700 Pag8 16 continued...
ational & General Charftable Tn Note to the Flnancial Stateme - continued for the Year End 31 cember 2024 SUPPORT COSTS Governance costs Management Flnance Totals Grant making Raising funds 5,207 46.994 1,652 10,715 17,574 46,994 52.201 1,652 10,715 64,568 TRUSTEES. REMUNERATION AND BENEFITS There were no truslees. remuneratK)n or other beneffts for Ihe year ended 31 December 2024 nor for Ihe year ended 31 December 2023. Trustees, expenses 2024 2023 Trustees, expenses 2,196 1,438 The trustees are unpaKI volunteers and are reimbutséd for the expenses incurred in respect of travel to and from the quartedy meetings and any administration costs that may be incurred. Trustee expenses were repaid to 8 TnBtees {2023: 8) during the year. FIXED ASSET INVESTMENTS Ligted Investmonis MARKET VALUE At 1 January 2024 Additions Disposals Revalualions 17,541,568 1,397,200 (1,895,480) 739,343 At 31 December 2024 17.782,631 NET BOOK VALUE Al 31 December 2024 17,782.831 At 31 Dernber 2023 17.541.568 There were no investment assets outside the UK. Cost or valuation at 31 December 2024 is represented by: Listed Investments Valuation in 2023 Valuation in 2024 Cost 1,012,693 241,063 16,528.875 17,782,631 Page 17 continued...
Con ational & General Charltable Notes to e Financial Statements - continued for the Year Endod 31 Dember 2024 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Prepayffl8rrts and acuued income 30,458 35,117 10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Grants awarded but unpaid other creditors 1.419,500 1,084.800 5,759 1.427,150 1,090,559 11. MOVEMENT IN FUNDS Net movement n funds At 31.12.24 At1.1.24 Unrestrlctsd funds General fund 16,705,070 (97,189) 16.607,881 TOTAL FUNDS 16.705,070 (97,189) 16,607,881 Net movement in funds. induded in the alVe are as follows.. Incoming resources Resources expended Gains and losses Movement In funds Unrestrlcted funds General fund 548.548 (1.385,080) 739,343 {97,189) TOTAL FUNDS $48,548 (1,385,080) 739,343 (97,189) Comparatives for movement in funds Net movement in funds At 31.12.23 At 1.1.23 Unrestricted funds G@neTal fund 15.996.188 708.882 16,705,070 TOTAL FUNDS 15,996,188 708.882 16.705.070 Comparative net movement in funds, included in the atN)ve are as follows: Incoming Resources resourGes expènded Gains and losses Movement in funds Unrestricted fvnds General fund 533,720 (837.532) 1,012.694 708,882 TOTAL FUNDS 533,720 (837,532) 1.012.694 708.882 Page 18 continued...
tional & General Charitable The Notes to the Fi ncial Ststsffients - continued for the Year Ended 31 December 2024 12. RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 31 December 2024. Page 19