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)
C￿L￿lUTy 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 Fa￿Cett
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 pa￿llents
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 EDIICATIC*4AL 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
.01￿a
Nomind %due
No. ot Shares,
NLwninal v4ue pr￿￿J5
Prot￿{Lo$s1
onmv
vdue
Cost
Artemis Corpor*e
Ast￿enEra
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
Green￿al 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 80￿j
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
P￿ar clo￿al Insuranc&
P￿ar
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 E￿￿0[￿￿ Infrastr.
Sh¥1 PLC
Smith and Nephew
Smiths DS ord
SSE PIC
Tri1￿ 8￿j 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