ST. CHRISTOPHER'S EDUCATIONAL TRUST IINCORPORATING THE HUGHES AND STEVEIYS BE UEST YEAR ENDED 31 DECEMBER 2024 FINANCIAL STATEMENrs SOMERBYS LIMrrED CHARTERED ACCOUNTAiYrs 30 NELSON STREET LEICESTER LEI 7BA
ST. CHRISTOPHER'S EDUCATIONAL TRUST (tqCORPORATING THE HUGHES AND STEVENS BEQUEST) CLlUTy INUMBER: 313864 Chair Dr S Holmes Trustees The Revd. Canon Prof. L.J Francis (Resigned 9 February 20?4) The Revd. Canon J. Triifitt (Appointed 8 June 2023) The Revd M. Hawes The Revd. N. Genders The Revd. Dr S Brush Mr A Malcohn Mr J FaCett Dr S Holmes Clerk to the Trustees Mr5 L Anderson-G¢ar Offices 5 Windmill Avenue Bicester OX26 3DX Bankers The Royal Bank of Scotland plc Drummonds Branch 49 Charing Cross London SWIA 2DX Investment Managers J.M. Finn & Co. 4 Coleman Street London EC2R STA Independent Examiner A. M. West FCA 30 Nelson Street Leicester LEI 7BA
ST. CHRISTOPHER'S EDUCATIONAL TRUST (tqCORPORATING THE HUGHES AND STEVENS BEQUEST) ANNUAL REPORT YEAR ENDED 31 DECEMBER 2024 St. Christopher's Educational Trust is registered with the Charity Commission and constituted by Deed of Trust. The Trust is administered by the Trustees as listed on page l. The Trustees are satisfied wilh the results for the year, the level of reserves and the ability of the Charity to meet its liabilities when they fall due. As set out in the Trust Scheme dated 30 April 2012. there should be eight trustees appointed as follows: the Archbishop of Canterbury and th¢ Archbishop of York each nominate l Truste¢ and The National Society (approved by council) nominates 6 Trustees. Neiv Trustees receive full infomiation on the legal basis of the Trust and the pow'ers and responsibilities of Trustees. The objective of the Trust is the promotion of religious education in accordance with the principles of the Church of England in educational institutions and local church communities in particular through any or all of the following ways:_ i) providing financial support to educational institutions and local church communities to enable them to offer suitable courses; 2) providing financial assistance to organisations or individuals to enable persons (lay or ordained) to take advantage of any educational or research facilities at any educational institution or within any local church community in any manner approved by the Trustees. 3) supporting the provision of facilities and opwrtunitie5 for young people to access lIgIouS education within local church coinn]unities. Grants made to Organisations No grants w¢rc made in the year. Main Features of the Year 2024 The Trustees continued to undertake a complete revieiw of their PK)licy & criteria during the year, and to fomiulate their priorities for future grant-making. Regretfully, no applications for granls could be accepted while that took place, but Trustees iiere confident a good basis had been laid for grants to resume in 2025. Financial Review Th¢ Trustees were satisfied w'ith the actii'iti¢s during the year and the position at the year end. Th¢y are onfident that the Charity can meet its liabilities whenever they fall due. Public Benefit The Truslees confirni that they have referred to the guidance contained in the Charity Cominission's general guidance on public benefit when reviewing the Trust's aims and objectives and in planning future activities.
ST. CHRISTOPHER'S EDUCATIONAL TRUST (tqCORPORATING THE HUGHES AND STEVENS BEQUEST) ANNUAL REPORT (Continued) YEAR EfsDED 31 DECEIVIBER 2024 Reserves Policy The charity holds cash at bank of £309,390 of which £304,915 are unrestricted funds. It is th¢ policy of th¢ charity to keep sufficient cash at bank to covcr the following years grant commitments and general expenditure. On behalf of the Trustees Sarah Holmes ljul 10: 2025 20..44 GMT+ll Dr S Holmes- Daled 8 July 2025
ST. CHRISTOPHER'S EDUCATIONAL TRUST (tqCORPORATING THE HUGHES AND STEVENS BEQUEST) INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES YEAR EfsDED 31 DECEIVIBER 2024 Independent Examiner's Report to the Trustees of St Christopher's Educational Trnst report to the charity trustees on my examination of the accounts of the charity for the year ended 31 December 2024 which are set out on pages i to 8. Responsibilities and basis of report As the charity's trustees you arc responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act,). I report in respect of my examination of the charity's accounts carried out under section 145 of the Act and in canying out my examination I hai'e folloived all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. Independent examiner's statement I have completed my examination. I confirni that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect- accounting records were not kept in respect of the charity as required by section 130 of the Act- or the accounls do not accord with those records. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Somerbys Limited 10,202521.24GI.IT+l', A M West FCA Chartered Accountants 30 Nelson Street Leicester 8 Jul), 2025 LEI 7BA
ST. CHRISTOPHER'S EDUCATIONAL TRUST (tqCORPORATING THE HUGHES AND STEVENS BEQUEST) RECEIPTS AND PAYMEINTS ACCOUNr YEAR EfsDED 31 DECEIVIBER 2024 2024 2023 Income receipts Investment income Bank interest Donations Dividends and interest from investments 6,375 7,045 3,228 59,384 56,440 69,657 Otber receipts Sale of investments 145,594 158,973 Total receipts 208,409 228.630 Direct charitable expendithre Grants 920 I 1,000 Otber expenditure Committee expenses Honorarium Investment management charges Audit & Accountancy 921 2.000 8.100 1,530 340 3,000 7,989 1.458 13,471 23,787 Other pallents Purchase of investments 130.188 151,384 Total payments £143,659 £175,171 Net receipts for the year 64,750 53,459 Bank balances at 31 December 2023 244,640 191,181 Bank balances at 31 December 2024 £309.390 £244,640
ST. CHRISTOPHER'S EDUCATIONAL TRUST (tqCORPORATING THE HUGHES AND STEVENS BEQUEST) STATEMENT OF ASSETS AND LIABILITIES YEAR EfsDED 31 DECEIVIBER 2024 Moneta assets General Purposes Fund Restricted nd Total 2024 Total 2093 Bank accounts: Bank deposit account J.M. Finn & Co.- deposit account J.M. Finn & Co.- income account 295 ?33 8,487 1,195 4,475 299,708 8,487 1,195 243,395 964 281 304.915 4,475 309,390 244,640 Creditors.. Grants Somerbys Limited 1,530 1,530 1,530 1,530 1,530 12,450 Other assets Cost Market value 2024 2023 ?024 2023 Investments: Restricted (1,578 CBF shares- see not¢_} Endowed (3,500 (?0?1: 8,500) CBF shares) Endowed (12,000 Sequoia Economic Infr. and 2,576 BB Healthcare Trust shares) Endowed (6,290 Ecclesiastical 8,6250/o prefj Endowed (14,000 Treasury l 950/0 Endowed (20,000 Treasury 1.6250/0 Endowed (26.018 Civitas Social House plc Shares) 36,488 80,9?9 35,671 79,119 18,467 6.?98 18,467 6.?98 13,109 7,128 14,303 6,939 17.384 17,384 18,310 18,582 Unrestricted 1,184,129 1,261,246 1,508,014 1,515,170 Restricted (see note 2) 865 Central Board of Finance Investment Fund shares 781 781 20,001 19,554 1,227.059 1,304.176 1,683,979 1,689,337 A schedule of the wide range investments and movements during the year is given on page 8. These financial statcments were approved by the Trustees on 8 July 2025 and signed on their behalf by: Sar311 Holmes (Jul 10, 2025 20."44 GMT+il Dr S Holmes - CHAIR
ST. CHRISTOPHER'S EDUCATIONAL TRUST (tqCORPORATING THE HUGHES AND STEVENS BEQUEST) NOTES TO ACCOUINTS YEAR EfsDED 31 DECEIVIBER 2024 Accounting Policies The accounts have been prepared on a receipts and payments basis. (a) Dividends and interest are taken into account on receipt. (b) The Trust is unable to recover VAT and accordingly this amount is written off with the appropriate expenditure. (c) Grants are charged to receipts and payments account when paid. (d) Endoiyed funds represent investments that must be held pern]anently by the charity. Income arising from the ini'estments in the fund can be used in accordance with the objects of the charity and are included as unrestricted income. Any capital gains or losses arising on the investments forni part of the fund. Restricted funds The Reverend H. Norrts Memorial Fund - Market i'alue of £20,001 (865 CBF inTr'estment fund shares). These funds are restricted, in accordance with the resolution dated 21 Ma), 1997, and may only be used for the purposes of the Church Colleges Religious Studies Certificate Course. Trust Fund- Market value of £36,488 (1.578 CBF shares) and £4,475 cash at bank. These restricted funds were given to Hughes & Stevens Bequest 'for a student at St Mark & St John College,. Trustees expenses and remuneration Included in committee ¢xpens¢s is £781 (?023 £303), which has been reimbursed to individual Trustees in respect of travelling expenses. No remuneration was paid to Trustees during the year.
ST. CHRISTOPHER'S EDIICATIC4AL TRUST (INCORPORATING THE HUGHESANDSTEVENS BEQUEST) INVESTMEPUS SUMMARY YEAR ENDED 31 DECEFABER 2CQ4 tISPOSALS CLOSING BALANCES No. of shares., Mthet P+yninal value value No. ol share&, Nom vdue .01a Nomind %due No. ot Shares, NLwninal v4ue prJ5 Prot{Lo$s1 onmv vdue Cost Artemis Corpore AstenEra Barratt Redrow PLC ord Bellevue Hedlhcare Tnjsi PLC Beazlvy PLC BP CCLA CBF Church ol England Funds CG PoTtt&io Ddlar D In Cioda Inii Ord Llgilal 9 Intrasirudure Ecclesiaslicd Insurance orrKe Edinburgh Invesimeni Tnjsl Greenal UK Wind PLC Gresham House Energy Glaxosmithkline Guiness Global Eq Inc Hdeoan PIG 1detn6yger1ro GSKI Home REIT IMP Enwronrn8nlal lthrket5 ISHARES 11 PLC Global ISHAFES S&PS00 UCITS Janus Henderson Slral8gic 80j JPM US Eq InG JPM GBL GTH&INC ORD al & Ceneral plc al & Ceneral Uctts ETF London Stock Exchange group LXI REtt PLC Ord G8PO.01 rcanlile Invgstmgnl TS PLC National Grid OGaD Pantheon Inlrastruclure plc ORD Pgrsimrn Par cloal Insuranc& Par Pretnier Tellworth Reckitt 88nthis8r Group ,OL¥) 73.739 21,2 19,583 28,411 21,474 al,5 24.141 27.472 51.205 21.2Y2 19.583 28.411 21.474 50,770 26,170 17,428 28,360 28,578 16,W26 31, 18,270 31.? 169.540 ),OLK) 24. 16.2991 173,420 25,370 14,38S 28,2 25.744 16 425 28.352 25.744 425 24,OLK) IZ.OLK) 8,OLK) 31,gJ) 35,7fA) 21.463 7.140 15.420 13.5441 13,996 12. 13.996 44.683 40.275 37.806 26.541 40.126 15,840 59,520 40,22S 47,77J 31. 3&76 37,W6 26,541 40.126 31, 43,762 8,845 17,1ZJ 29,S23 49,251 10,379 17,123 42,350 2.7S) 2.7 4&0 11. 46,145 19,367 36,975 43,810 a0,5 al.1 46.145 38.839 19,472 27,047 46,7Y) 14.2711 43.810 30.355 64.413 58,875 24,574 65,570 ,575 59,748 50,435 ).541 &5LK) 33,183 44,032 i& 24,053 65.286 24.053 39.989 T2.755 39.869 72,755 39,869 29,W S3, 19,5T8 S3,941 16,857 27.8Y2 37.( 15.( 37.0 i&0 4.1 36,0 35,700 39,359 6,091 13.IZ31 .7 1.1 19,144 15,279 Is,7 3,240 20,329 16,458 21,788 19,741 20,211 16, 6,442 42,( 29,679 28,28) 38,W7 21.4Y) 31.792 16.458 21.788 19,374 16.( i&0 22,25S 14,499 34,Ih)S ,425 17,985 29,335 64,376 20.211 6.442 Scottish Inv SDCL En8rgy Ord $8quoia E0[ Infrastr. Sh¥1 PLC Smith and Nephew Smiths DS ord SSE PIC Tri1 8j Box Reil plc Unil&ver plc UK Treasury 1.625V. UK Treasury 4.125V. UK Treasury 4.25% 38.CK)7 37.Y27 37.Y27 18.419 13.713 30,121 17,218 18.419 34.877 3&255 13.9491 31.286 10.181 17.218 33.730 1.057 17.384 YJ.354 15.61M) 40,100 36,268 54,57S 27.331 1.6 46,162 27.331 1.2CK) 20.0 24.0 16,0 49J 21.591 2.971 17,384 18,582 24,789 17.( 24.( 16.( 24,315 15,660 15, .9 1.252.410 49.S15 1&).1 49.521 145.594 14.245 584.268 1.226.SB4 1.663.978