THE CHURCH SCHOOLS OF CAMBRIDGE (THE OLD SCHOOLS) FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024 CONTENTS AND CHARITY DIFORMATION CONTENTS PAGE R¢port of the Trustees Independent Auditor's Report Statement of Financial Activities BalaDGe Sheet Statement of Cash Flows Notes to the Financial Statements 10-16 The Charity Commissioners granted a Certificate of Incoryoration of the Trustees on 14 November 2000. THE CHURCH SCHOOLS OF CAMBRIDGE (THE OLD SCHOOLS) FINANCIAL STATEMENTS FOR THE YEAR ENDED 3 1ST DECEMBER 2024 CHARITY INFORMATION CHARITY REGISTRATION NUMBER 311326 EX-OFFICIO TRUSTEES Rev'd Dr J Bunker Rev'd l Nay Rev'd Dr R Barry Rev'd A Day Vicar of the Parish of Ascension {St Luke's) Vicar of St Paul's Church Vicar of St Philip'8 VicaT of St Clemgnts Church LAY TRUSTEES APPOINTED BY PCCS Mrs G Ambrose Mr D FaTrer ** Mr A MacLellan* ** Mr M Pettifer ** Parish of Ascension (St Luke's) St Paul's St Philip's St Clements LAY TRUSTEF, APPOINTED B Y THE DIOCESAN BOARD OF BDUCATION Mr J Young (from I September 2024) TRUSTEES APPOINTED B Y THE UNIVERSITY OF CAMBIUDGE DrKCarne* ** Mrs P Pritchard OBE * TRUSTEE APPOINTED BY SOUTH cAr%￿BRIDGE DEANERY SYNOD cU￿entlY vacant TRUSTEE APPOINTED B Y NORTH CAMBRIDGB DEANERY SYNOD Currently Vacant CO-OPTED TRUSTEE EIECfED BY THE BOARD FOR 5 YEARS Currently Vacant Mrs P Pritchard OBE VICE CIIAIRN DrK Carne ** TREASURbR Mr A MacLellan* ** MANAGEMEN'I I"EAM Isobel Rawlillson supported by admTnistratOT and project officers PRINCIPAL OFFICE clo St Philip's Church Centre 185 Mill Road, Cambridge, CBI 3AN AUDITORS Prentis & Co LLP Chartercd Accountallts and Statutory Auditors 115c Milton Road, Cambridge, CB4 IXE BANKERS CAF Bank Ltd 25 Kings Hill Avenue, Kings Hill, West Malling, Ken( MEI 9 4JQ INVESTMENI. tsQANAGERS CCLA Investment Management One Angel Lane, London, EC4R 3AB SOLICITORS Ashtons Legal, 77 Newr(wket Road, Cambridge, CB5 8EU LINKED CHAEUTIES Park Street ChuTch of England Junior Mixed and Infants School (311326-4) St Lukes Church of England School {311326~2) St Pauls Church of England School Junior Mixed Infants {311326-8) St Pbilips Church of England School (311326-5) * denotes member of the Executive Conllnittee ** denotes member of the Finance Con]mittee THE CHURCH SCHOOLS OF CAMBRIDGE (THE OLD SCHOOLS) PACIE I FINANCIAL STATEMENTS FOR THB YEAR ENDED 31ST DECEMBER 2024 REPORT OF THE TRUSTBES Th¢ Tntstees present their annual Teport together with the financial statements of the Charity for the year ended 31 st December 2024. The fmanfji￿ statements comply with tkne Charities Act 2011. Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicablc in the UK and Republic of Ireland (FRS 102) (second edition published October 2019) (effective l January 2019). STRUCTURE, GOVERNANCE AND MANAGEMENT The Church Schools of Cawbridge (The Trust) is a registered Charity, number 311326 and was founded in 1703 as The Old Schools) by the Rev'd William Whiston who Taised funds frorn senior figures at the Univ¢T$lty to start s¢ven sthools which provided schooling for 260 poor children in CaTnbridge. The Church Schools of Cambridge now owns four pritnary schools in the cty of Cambridge - St Luke's, St Paul's, St Philips and Park Street and has a minority interest in St Bede's InteT-Church School. Th¢ main activitios of the Trust are the provision of the buildings and f]nancial support and the appointment of FO￿dation Governors to its four primary scbools. The Trust also knds and m8nages activities that support the general provision of Religious Educatioll and Collective Worship in schools in the Cambridge 3tta and througb gTants to Sunday Schools. The Tn￿ was incoTporated in November 2000 and is n￿laged by Trustee8 as outltued in the Charity Commission Scheme of 3rd January 2008, The inwmbonts of the parishes in which our four schools lie are all Trustees ex officio. Trustees are appointed for 4 years and may be reappointed. A fi￿1 meeting of Trusto¢s is generally held two or three times a year. At these meetings Trustee8 agree 8trategy, receive project and gr￿t updates and review the financial positioTr Day to day n)anagement of Trust activities is overseen by the Executive Committee of Trustee5 which, with the Director, implen)ents the agreed stratcgy, allocates fi￿dIng and oversees the organisation. All Trn8tees give their time freely and once a year dtsGlose all relevant interests. at each meeting any conflict of interest is declared. Where, exceptionally, a Trustee has a material interest in a decision or proj¢ct, they do not take part in its considcration. The Trust seeks to support its four primary schools and St Bede's through Head TcaGheTS, governing bodie8 and staff. It also maintains a relationship with the six other Church of England schools within its area of benefit. It has close links to Churches in Catllbridge, particularly with those parishes in which the ychools are sithated. It has strong rnut￿ links with the Diocese of Ely: the Trust's Director is a co-opted mernber of the Diocesan Board of EduGation and the Diocesan Director of Education is a Trn5tgg. Through our support for projects, we have operational links to several local organisations including Acom, Gerll18 and Great St Matys Heritsge Centre. RISK MANAGEMENT Frorn time to time the Trustees have considered the major fmallcial and other risks to whiLh the CIMrity is cxposed and have documented these in a risk register. A key risk is thc possible impact of chanues in school funding and changes in governance atising from the Governrnent's national policy on academies. The main operational risks include 5tnJctural problems with OUT four school building8. This is addressed by regular structural and condition surveys in order tu identify immediate and long term issues and works with th¢ schools with the ain] of ensuriDg that facilities meet thc (kvcloping needs of the sthools, within the prevailing fi￿d]llg constraints. AIMS AIYD OBJECTIVES The vision of the Trust is "CSOC 8UPPOrts the creation of inspiring and caring educational environments whicb are underpimied by the Christian faitlL v&lues and foundation of the Charity, and where every child, regardless of background or ability, is able to flo￿lSh and experience succe5S." The Trust seeks to achieve these aims both dirertly and througb supporting other organisations. We consider and promote capital PTojects and support and fund education improvements initiatives in our schools, Icad activities such as exhibitions and Footprints of Faith (school walking tours), support activities such as the Dioces¢ educational improvement programme, and initiatives that are l¢d by other organisations. The progr8JTllne of activities is reviewed annually. PUBLIC BENEFIT The Trustees have regard to the Charity Commission guidance on Public Bcnefit. All Trust activities are undertaken in accordance with its charity objectives, therefore ensuring that they deliver public benefit from the work the Trust offers with its four schools, and it5 work in partnership with others in the aTea of benefit. THE CHURCH SCHOOLS OF CAMBRIDGE (THE OLD SCHOOLS) PAGE 2 FJNANCIAL STATEMENTS FOR THE YEAR ENDED 31 ST DECEMBER 2024 REPORT OF THE TRUSTEES ..........ICONflNUED ACHIEVEMENTS AND PERFORMANCE The Trnstses are pleased with the following activities it has been able to support during 2024. Development, and maintenance of ehureh 5ehDoI buildings The Trust has continued to support school governors of its fow primary schools in the upkeep and development of their buildings by contributing towards the cost of development plans and projects including Upgrades to IT facilities, The trust managed an extensive building remodelling and improvement PTojert at St Philip's scbool, fi￿ded by Con)munity Infrastructure Levy (Section 106) by the Cambridgeshire County Council. This was substantially completed in the sun]mer of 2024 along with redocoration throughout funded by the Trust. Promotion of education in its Cambridge Church Schools The Trnst has continued to provide an annual grant to each of its four Primary Schools and to SÉ Bede's, used for adthtional activities that support the learning needs of the children. The Trust previously initiated an additional progran]me to Support school improvement and enable schools to enrich the curriculum for their pupils. An EduGation sub-committee of Trustees reviews 8UPPOrt and a￿teS with tbe schools a programme of added value projects the Trust can support aimed at raising the overall quality ofeducation delivered in the medium tern). It is envisaged that thi5 programme will extrnordinarily commit some of the Truses accumulated reserves to this area of school supporL utilising capital ￿Owth over and above inflation. other education related projeets and grants The Trust has continued to provide grants to other orwiisations which support the education of children in the area of benefit including the Ely Diocesan Board of Education, Acorn and Great St Mary's HeTitage Centre. The Trust has WOTked closely with the Diocese of Ely Board of Education to encourage improvem¢nts at schools within the Diocese, particularly withiu Cambridge. Trust support in this arca includes. mental health and wellbeing support for pupils and funding Diocese education advisers to support school leadership. The Trust has delivered RE enhanLing workshop sessions during the year, which took place in schools and churches. It has continued to make available on-line resources for schools to use in Religious Education and collectiv¢ worship. These are not limitsd to the Trnst's sthools and are accessed by schools more widely. It ha5 PTovided bibles and Its Your Move leafiets to Year 6 school leaver5 in the primary schools within the Trust'8 Area of Benefit. The Trust has continued to provide grants to Sullday Sthools churches in Cambridge to support their young people's work. FINANCIAL REVIEW All Trust investrn¢nts held primarily in order to provide itLcome to fund the work of the Trust with the majority forniing our pernianent endowm¢nt. The Tru5Vs fmancial support to its four primary Schools and wider educational activities is therefore Teliant on the income it receives from these investsnents. This is supplemented with income raised from the solar panels installed at its four prirnary schools and from rental income. The Trust also acts as an agent on behalf of its four schools im managing Devolved Forniula Capital (DFC) a source of state flmding towards periodÉc maint¢nanc¢, minor capital wokn and IT resources. The TTUSt's total income in 2024 was £1,024,678 (2023: £536,375), Total fi￿dS held at th¢ end of the reporting period was £11,197,798 (2023: £11,100,936, of which £2,579,564 was unrestricted (2023- £2,675,255) and £8,618,234 was pern]anent endowment funds (2023: £8,425,681). RESERVES POLICY The TTUSt expenditure varies over time accordtng to the opportunity to contrli )ute to repairs, and development work enabled by external (primarily govenllnent) funds and partner activity linked to the airns and objectives of the Trllst. The Tn￿ through regular budget rcviews and foTward planning activity aims to keep sufficient reserves to respond to such opportunities as they arise, to accommodate the cash flow requiremgnts of larger capital projects it nwiages, and to support activities tbat benefit the children whom we serve. It is the Trustees policy, therefore, to pass SUTp1￿3 incorne to reservgs in years of lower expenditure to enable it to utilise those reserves to fund years of greater development activity. Fr¢¢ reserves were £2,569,769 at the end of the reporting period. '1 HL (:HIJRLII %CHOOI,8 (.)P" (:AM BR I D(iTrT, ('I'I I I. ()l.D S(_'14(.)1)i.gi T.'INANLI AL %"fA'I'L.;Mb.N'l S l.'L)R 'I-I I E.: YI.;AR I..'NI)F;IJ 315-1 I)E(:F,M FIP.R 21}?4 Rl.-.l)()R"I' ()I'. 'ri41': 'I'RU,%'I'I..;P.4 ,I(;ON'I-INIJI.'I) Each ye#r. TrEI.%tc¢.% rovi¢w' L()IiiinltiL(l ojranl and projL%LT actii'ir), qptnd li makes lu i.hL %LhLiuI8 Eind to uilier bodiL's in lib*hi ol, current iliLofJ)Li pri)jc'¢led L%p¢ndilurL' dnd availabl¢, I'e%ouriL4 ai)cl 'l'rLI.¥IL¥s bLIiLVL' its resoiirLes are adLLlllal¥ to rne.¢l tiJrr¢iil ci>mmitinentS (iiid p(IiLniiul liiibilitiL.4. INVE8TMF.NT P()I.IC:Y 'I'he '] riislLes huvL poi¥ers Iii munuu)e Ihe 'l'ru41's asscls. 'fhi, .1 I'usties Iiii£lIl¢L comiiiiltLQ rtslliilarly reviL'W thi,, performdl)ce ofih¢ I'njsl's invL4lmenlii an(1 report li) -I'TEisleL MLLlin&ys, L'.iirrLnily ]Manti￿eMen7 cif()ur inve4tm¢nts is 6'11trii.%ied Iu Lhe LBI,. LhLirih of Ln&land InvL'Stment biii)d. PLAN41 FOR T141;, F'UTURF. ThL Chiirch Sihoiily ofcainbr1d￿rQ htt%, IhrouL,h li¥ v#rii)115 SLhuc)15 urid Liliiciilicin silPPDrt pri)jttLt5, bcen siipportir)bi Fjrimary I,duLutii)n in Cuinbrid%e fur OVLr JUII.yeiirs und plaiis 1(1 conlii'iuL lu do %rJ in keepinb> with thL aims an41 ohjL'¥tiv¢% refcrred 10 abovl.. 'rATTr.MENT OP. TRUS'fi;p'.S RTr.41>()N,51111LITTr I'h¢-I rustV¢g iirc rL5PI?nsiblL for iIIL' pfLPilI'iilion ul, IhL, -frusiLI'%' Ani)tiul Ilepijrt Gind fiTIEtncial 51ai¢in¢nls iii i)LLordanLc' with ppIiLahlL law ljniiud KinLDdi)m AcLI)untinLi Sidn(lill'd% I I InilLd Kiiigdi)ni GLnLrully AL￿l,ptLd AccounliiiLJ Prkcl.iCLI. ThL law #pi?IiLitblu l() charitiLs in Tr.Ii&ilan(I ￿)d WalL% requirLs (h¢ I'ruslLes lo prLP¢irc finanLiKII 8tdle17]enL4 lor each ¥Ldr which Liivt a truG an(1 fair VILW nl'thL ¥l*ilL c)I'al'fuir% {)[ thc ('.hnsi%'lentls'; i)b5¥rve Ilitr mL¥thods lind prinLiplL% in thL' ￿1pplIca1)lL. Lharili¥s Sl)111); ii)Hkc judkvgii)ellts and ¢s1iniate4 tIiLiI tvc rc'¥ll(slliible EtTI(l [trrudeTII- slate ivhellilr tipplicabl¢ ilLi()unlingy %￿nd11rd.￿ havo, bLen fullok¥'L,d. %ubjLcI 10 iiiiy mL21L'riul d¢p¥triuri'% disclosed dr)d explaiii¢,d in tlIL linunLIMI ￿t￿l￿.1r1(,.￿l5: pi'¢parL IhL' finanLi' with tliL Ch￿￿11v5 Ait ?U I i. tlie hpplic£ihle C.hurit?' IALCI)Iinry ¢ind RepiJrts1 Rvb)tilatl(IllS lind tlie provi4it)n% ofil)r. trust deLd. 'I'hey are <11s() I'espon%ible for Sdtegullrding tl)L• M.4set8 r)f (h¢ C'harit). Imd h¢nco IOT iakinui re(t%i)nublL' 5tLPs lor the prL'vEnlioii uiid deieclioii uf friiiid Iiiid oiher irrttLiiIlariti￿5. 'I'h¥ Tru51Les are als(1 ri'spi)ii%ihl¢ li)I' IhL' Iniiiiitenan(.'c aiid InlcLxrily ()*' IhL L(IrporHIL iin(I Iinaricidl information incliided on th¢ Charily'.% W'Lbsile. Approvid by thL 'I'rustee% ori I ST Zo'ls rid ijn Iheir h¢liY¢ If by.. A MALI.I',I.I.AN IIONI)IIAR Y 'I'RI'A%IIRL.:R THE CHURCH SCHOOLS OF CAMBRIDGE (THE OLD SCHOOLS) PAGE 4 FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024 INDEPENDENT AUDJTOR'S REPORT TO THE TRUSTEES OF THE CHURCH SCHOOLS OF CAMBRIDGE OPINION We have audited th¢ fmancial statements of The Church Schools of Cambridge for the year ended 3 1st December 2024 whiGh Gomprise the Statement of Financial Activities, the Balance Sheet, Statement of Cash Flows and tht related notes. The financial reporting fra￿ework that has been appli¢d in tbeir preparation is applicable law and United Kingdom Accounting Standards, in¢luding Financial Reporting Standard 102 "The Financial R¢portiDg StandaTd applicable in the UK and Republic of Ireland" (United Kingdom Generally Accepted Accounting Practice). tn our opinion the fmancial statements.. - give a true and fair view of the state of the Charitys affairs as at 3 1st December 2024, and of its incoming resowces and application of rosources for the year thon ended. - have been properly Prepared in accordance with United Kingdom Generally Accepted Accounting PraL'tice' and - have been prepared in accordBnce with the requir¢ments of the Charities Act 201 I, under S.144. BASIS FOR OPINION We conducted our audit in a￿OrdanCe with International Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are further de8crli )ed in the Auditor's responsibilities for the audit of the fmancial statsments section of our TeporL We are independent of the Charity in accordance wRth tbe ethical requirements that are relevant to our audit of the fmancial statements in the UK, including the FRC'S Ethical Standard, and the provisions availabl for snRII entities, in the circumstances set out in note 16 to the fJ]wicial ststements, and we have fulfilled our other ethical responSi￿lI1t1eS in accoTdanG¢ with these requir¢mentg. We believe that the audit evidence we have obt&iDed is sufficient and appropriate to Provide a basis for our opinion. CONCLUSJON RELATING TO GOIPIG CONCERN In auditing the financial statements, we have concluded that the TTUStees' use of the going concern basis of accounting in the .prepardtion of the financial statements is appropriate. Based on the work we have perforniod, we have not identified any material ullcertainties relattng to events or conditions thaL individually or collertivety, may cast sigllificant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised ftjr issue. OUT responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report. OTHER INFORMATION The other inforniation comprises the infonllation included in the Report of tho Trustees, other than the fmancial statements and our auditorfs report theTeon. The Trustees responsible for the Report of the Trn5tees. Our opinion on tbe finallci￿ statements does not cover tbe other infoTmation alld we do not express any forn of asslrance conclusion thereon. In comiection with our audit of the financial statements, our responsli )ility is to read Éhe Report of the Trustees and, in doing so. consider wheth¢r the Report of the Trust¢¢S 18 n￿teriallY inconsistent with the fmancial statements or our knowledge obtained An the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstaten]ents, we are required to deteTmine whether tber¢ is a matsrial misstatettient in the f￿ancial statements or a material misstatement o'rth¢ other infonnation. If, based on the work we have perfornied, we conclude that there is a n￿la1 misstatement of this other inforniation, we required to report that fact. We have nothing to report in this regard. THE CHURCH SCHOOLS OF CAMBRIDGE (THE OLD SCHOOLS) PAGE 5 FINANCIAL STATEMENTS FOR THE YEAR ENDED 3 1ST DECEMBER 2024 INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEBS OF THE CHURCH SCHOOLS OF CAMBRIDGE MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION We have nothing to report in respect of the following matters to which the applicable Charities (Accounts and Reports) Regulations require us to Teport to you if, in our opinion: - the ii)forn]ation given Jn the f]nan¢ial statmcnts is inconsistent in ally material respect with the Report of the Trustees. OT suffirient accounting Tecords h&ve not been kept. OT - the financial statements are not in agreement with the accounting records and Teturns,. or - we have not re￿Ived all the information and explanations we require for our audit. RESPONSIBILrriES OF TRUSTEIS As explained moro fully in the Trustees, responsibilities statement Set out on page 3, the Trustees aye responsible for the preparation of the fmancial statements and for being satisfied that they give a true and fair view, and for such illten]al control as the Trustees deterniine is necessary to enable the preparation of r]nancial statements that ar¢ fro¢ from material n]isstatement, whether due to fraud or ernr. In preparing the fmancial statements, the Trustecs are responsible for assessing the Charity's ability to continue &8 a going Conc￿ disc105ing, as applicable, matters related to going concern &nd using the going concern basis of accounting unless the Tr￿ste¢s either intend to liquidate the Charity or to ccase operations, or have no realistic alternativ¢ but to do so. AUDITORIS RESPONSIBILITIES FOR THE AUDrr OF THE FINANCIAL STATEMENTS We have been appointed as auditor undeT Section 144 of the Charitie5 Act 2Q I l and report in accordance with the Act and relevant regulations made or having effect thereund¢r. Our objectives are to obtsin reasonable asswaDGe about whether the financial statements as a whole are free from material tnisstatement, whetber due to fraud or error. and to issue an auditOT'S report that includes our opinion. Reasonable as5]￿ance is a high level of assurance. but is not a guarantee that an audit conducted in accordance with l.SAs (UK) will always detect a mateTi&I misstatement when it exists. Misstatements can arise from fraud or error and ￿e considered material 1£ individually or in the aggregate, they could reasonabty be expected to illfluence the economic decisions of user& taken on the basis of these fmancial statements. We have exercised professional judgement and maintained professional scepticism throughout the audit, PROCEDURES TO INDENTIFY MATERIAL MISSTATEMENTS INCLUDING FRAUD Irregularities, including frau(L are instances of non-compliance with laws alld Tegulations. The PTirnary responsibility for the prevention alld d¢tectioll of irregularities including fraud rests with both the management and those charged with governallce of the Charty. We design procedures in line with our responsibilitie8, Qutlined above, to detect rnaterial misststements in respect of irregularities, including fraud. The extent to which OUT procedures are ￿pable of detecting irregularities, including fraud is detailed below: We have coDsideTed thc nature of the industy and sector, control environnlent, laws and regulations and business perfornlance of the Charity, including Trustee remuneration policies. Laws and regulations considered includel but were not limited to. Charities Act 201 FRS102, Ch￿At85 SORP (FRS 1.02) as lar as it impacts on chwities. We have enquired with the management in regards to thgir own assessment of tho iisks of irregularities, including fizud. We also enquired of management and thoso charged with governance as to any l(nown instances of non-compli&nce or Suspected non-compliallce with laws and regulations. We obtained relevant documentation alld representations in order to forni an opinion on potential ]￿egulaTities, including fraud. W¢ have Tcviewed rntnutes of Trustee meetings to determine whether theTe have been events whirh require additional disclosure in the fmancial statements. We have reviewed post year-end transactions to ensure items are disclosed accurately and complete at the year-end. THE CHURCH SCHOOLS OF CAMBRIDGE (TEIE OLD SCHOOLS) PAGB 6 FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 ST DECEMBER 2024 INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE CHURCH SCHOOLS OF CAMBRIDGE Based on this understanding, we designed specific audit procedures to identify instancos of llon-compliance with laws and regulations. including obtaining additional corroborative evidence as required. Examples of procedures included reviewing large and unusual transactions, reviewing large and unexperted variances, revi¢wing journal entries and reviewing relevant legal correspondence, There are inherent limitations in thc audit procedures d¢scribed above, not least as sampling is used LmdeT Intornational Auditing Standards, ther¢fore not all transactions are reviewed. Therefore there is a Txsk we will not detsct all irregularitie8 including those leading to a tnaterial ]nisstatement in th¢ fmancial statements or non-compliance with regulations. The risk of not detecting a materi&l misstatement due to fraud is also higher than the risk of not detecting one from e￿Or, as fraud may involve deliberate concea]ment by, for e￿Mple. forgery, collusion, omission or intentional misrepresentation. As a result of these proc¢durcs, we considered tbe opportunities alld incentives that may exist within the organisation for fraud and identified the greatest potential for fraud is in relation to the overstatement of revenue. In cotnmon with all audits under ISAS (UK), We are also required to perforni specific procedures to respond to the risk of management override. A fillther description of our responsibilities for the audit of the fmancial statements is located on the Financial Reporting Coun¢il's website at www.frc.org.uklauditOTsresponsibilities. This description fonns part of our Report of the Auditors. USE OF OUR REPORT This report is made solely to the Trustees, as a body, in aGrord8nGe with the Charities Act 2011. Our audit work has been undertaken so that we might State to the Charity's Trnstees those nlatters we are requiTed to slate to them in an auditor's report and for no other purpose. To the fullest extent per￿Itted by law, we do not accept or assume responsibility to anyone other than the Charity alld the ch￿Ity'S Trustces as a body, for our audit work, for this report, or for the opinion we hav formed. PRENTtS & CO LLP CHARTERED ACCOUNTANTS & STATUTORY AUDITORS 115c Mihon Road Cambridge CB4 IXE Prentis & Co LLP is eligible to act as an auditor in tern]5 of seGtion 1212 of the Cowics Act 2006. 'rHF CHURLII %CH()01.g OP- LAMBRifJGF. I'l-l.1[￿. OLD SC1400L,,S) PACYE 8 I.'INANCIAL S'I'A'I"b.MEN'f%' F'OR I'HE YEAR LNL)i.-:rJ 3 IS'I. Db.LCMBER 2024 IJALANCb SHELI" 21124 2023 Note1> ixrD ASSIFTS 'TangiblL fixed as¥ets Inv¢btin¢nts 9.795 11,0511.(J61 l U.437 l U,9.511,52S l O.(j61i,962 TOI'AL FixLfJ AS5'E'rs 1,06¥,756 CURRENT ASSET&i Dvbiors Lush &t bunk in hund 10 12.1,4ts6 178,2()9 172.565 284,1115 TC)TAL CURRFNT A%SETS 3D3,675 456.751) LIABILI'fiES Cr¥ditor4,' amOUnt% lalling dEl¢ Wtthin e ycar (174,633) (J24,770) NWT CURRF,NT A,SSFTS 129,042 131 C)74 TOT AL NEI. ASS14I'S 11,197,79¥ I I,IUO,936 I'HL FUNDS OF Ti4f, CHARII'Y ReyirictLd liinds: l)eimanent endowm¥nt fun lJnr¢striLt¢d fun(L% 12 8,618,234 2,579.5611 I1,197,7