REGISTERED CHARITY NUMBER: 313916
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 30th June 2024
for
St Mary's Waqf
charity administered by The
Jerusalem and the East Mission
Trust Limited

St Mary's Waqf
a charity administered by The
Jerusalem and the East Mission
Trust Limited
Contents of the Financial Statement5
for the Year Ended 30th June 2024
Page
Report ofthe Trustees
Independent Examiner's Report
Statement of Financial Activities
Balance Sheet
Cash Flow Statement
Notes to the Cash Flow Statement
io
Notes to the Financial Statements
11 to 17

St Mary's Waqf
a charity administered by The
Jerusalem and the East Mission
Trust Limited
Report of the Trustees
for the Year Ended 30th June 2024
The trustees present their report with the financial statements of the Chariiv for the year ended 30th June 2024. The
trustees have adopted the provisions of Accounting and Reporting by Charities.. Statement of Recommended Practice
applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the
UK and Republic of Ireland IFRS 1021 (effective 1st January 20191.
OBJEcfivES AND ACTIVITIES
Objectives and activities for the public benefit
The Charity's objectives fall within the overall purpose of the advancement of the Christian religion through the
episcopal/anglican churches in the Middle East and their associated religious and charitable work.
The specific object of the Charity is maintaining and operating educational and training establishments and a5SlSting
other organisations engaged in advancing education, furthering health and relieving poverty, distress and sickness.
This is to be focused primarily in Egypt and the Middle East but can be used worldwide at the discretion of the
trustees.
Following the formation of the Episcopal/Anglic3n Province of Alexandria it was agreed by the archbishops of the
Province of jerusalem and the Middle East and the Provirice of Alexandria to request that the income of the charity
should be granted to the Province of Alexandria. The trustees have agreed to comply with this request for the time
being but without restricting their ability to allocate grants elsewhere in the lulure.
The above object is normally achieved by the makin8 of a grant to the Province of Alexandria. This grant is allocated
on the recommendation of the Province between a number of medical, educational and religiou5 establishments
serving the Christ12n and wider communities within the Province.
During the year the charity acquired the funds previously held by The Jerusalem and the Middle East Church
Association on behalf of the Province of Alexandria for the benefit of Holy Trinity Church, Algiers and the Diocese of
North Africa. Surns will be disbursed from these funds at the request of the Diocese of North Africa.
Public Benefit
The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance
on public benefit when reviewing the aims and objective5 of the Charity in planning future activities and in setting the
grant making policy for the year, In particular the trustees consider how planned activities will contribute to the aims
and objectives that have been set.
Objectives for the year
The Charity's aim lor the year was to maintain tsr increase the level of grant. This was not achieved, however, for the
reason5 set out below.
Page I

St Mary's Waqf
a charity administered by The
Jerusalem and the East Mission
Trust Limited
Report of the Trustees
for the Year Ended 30th June 2024
ACHIEVEMENT AND PERFORMANCE
Activities
The trustees have changed their policy regarding the timing of the calculation 3T)d payment of grants compared to
previous years. In the past, grants were calculated baged on the ir)vestmenl income receivable up to 31st March in a
financial year together with an estimate of the income expected to 30th June. For the year ended 30th June 2024 and
subsequent years, grants will be based on the actual investment income receivable to 30th lune and will be agreed by
the trustees at a trustees, meeting following the end of the accounting year. As these grants will not have been
approved by the trustee5 at the end of the financial year they do not appear as a creditor in the accounts.
Owing to the change in policy set out above, the Charity m3de no grants during the year12023 - £47,000). The grant
based on the income for the year ended 30th June 2024, will be allocated to the Province of Alexandria for assistance
with various projects being undertaken in the Province. This grant will appear in the accounts for the year ended 30th
lune 2025.
During the year, the funds held on behalf of the Province of Alexandria for the benefit of Holy Trinity, Algiers and the
Diocese of North Africa previously held within The Jerusalem and the Middle Sa5t Church As50Clation, were
transferred to the charity. The value of the fund5 transferred was £684,930 primarily made up of investments in CBF
Church of England Funds. Further details regarding this fund can be found in the notes to the financial statements. No
requests for payments from thi5 fund were received in the year.
FINANCIAL REVIEW
Investment
Investment Powers
The trustees, power is governed by the Trustee Act 2000. This confers a general power of investment and requires the
trustees to invest in a diversified range of 5Ultable instruments.
Investment Objectives
The investment objectives are
al to generate a sustainable income stream year on year which maintains its current purchasing power.
bl to at least maintain the capital value of the investments over the long-term.
Risk Tolerance
The trustees place a high priority on maintaining the real value both of the investments and the income returns over
the long-term while recognizing that at times achieving this will mean accepting short or medium term declines in
capital value andlor income available for distribution.
Ethical and Socially Responsible Investment
The trustees have reviewed their investment policy with regard to the Charity Commission's guidance on ethical and
responsible investrllent.
The trustees recognize and approve the CBF funds manager's policy of investing only in investments that conform to
the Church of England's 'Ethical Investment Acivisory Group, IEIAGI guidelines, with particular sensitivity relating to
investments in thÈ occupied Palestinian territories.
Performance
Investment income, including deposit account interest, has increased by 44.5Yo compared to last year. This increase,
however, includes the additional income relating to the funds held for Holy Tri nity Church, Algiers. ExcludinE this. the
increage was 2.3Yo The value of the listed investments held in the General Fund ha5 increased by 7.60A over the year.
The value of the listed investments held for Holy Trinity Church, Algiers, has increased by 6.5Yo since the date of
transfer to the charitv.
Page 2

St Mary's Waqf
a charity administered by The
Jerusalem and the East Mission
Trust Limited
Report of the Trustees
for the Year Ended 30th June 2024
FINANCIAL REVIEW
Financial review
The transactions for the period and the Charity's financial position at the end of the year are shown in the attached
financial statements.
The trustee5 consider it is appropriate to use the income of the Charity 10 support longer term projects requiring
moderately Substantial funds. In addition it is also the trustees, policy, if circumstances permit, to allocate from the
annual income a significant Sum for general charitable purposes within the Province of Alexandria. The maintenance
of the Charity's capital base also enables the trustees to advance loans from time to time to the diocese5 Wlthin the
Province for major building projects on terms which, although commercial, are more easily affordable to the
borrower.
ReseNes
The trustees take the view that the aim should be to fulfil the Charity's objects over a long-term future. The
experience of the trustees is that the archbishops and Synods of the Episcopal Church of Jerusalem and the Middle
East and the EpigCOP21/Anglican Province of Alexandria expect both to receive a regular annual grant at a sustained
level and from time to time to call vpon the Charity for additional and urgent funding, and it IS the policy of the
trustees, within the terms of the Charity, to maintain reserves at an 3dequale level to support these two needs. While
keeping the level of resources under constant review, the trustees consider the current level to be prudent for this
purpose.
The trustees consider, on the basis of current information available, that these funds are adequate to meet their
known future commitments.
FUTURE PLANS
The Charity aims to continue to support the work of the church in the Province of Alexandria by the making of grants
to organisations in support of long-term projects within the Province.
In the opiriion of the trustees the finances of the Charity are adequate to enable it, with prudent management, to
continue lo carry out their charitable objectives.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The Charity, which is a registered charity Inumber 3139161, was e5t3blished under a trust deed dated 20th july 1967
with supplemental deeds drawn up on 3rd July 1968 and 4th October 1978.
The Britlsh Government obtained compensation from the Egyptian Government for the latter'5 5eque51ration of the
church's property in 1955,. one of the terms of the settlement wa5 that the sum was to be held upon charitable trust in
English form.
Page 3

St Mary's Waqf
a charity administered by The
Jerusalem and the East Mission
Trust Limited
Report of the Trustees
forthe Year Ended 30th June 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing body and related charitie5
The custodian trustee of the Charity Is The Jerusalem and the East Mission Trust Limited. The company's board of
directors, who serve in an honorary capacity, as at 30th June 2024 comprised..
Rt Rev A J Ball (Chairl
J M Clark
D A Wright
Dr C Amos
Rev Y Said
Rev C M Dawkins
Mrs C A Hawkey
The directors of The jerusalem and the East Mission Trust Limited are 3ppoirited by invit3lion. In accordance with
company law, directors are confirmed in office at the annual general meeting following their appointment,
The directors met five times during the year to consider the overall policy of the Charity and the level of grants to be
paid. These meetings were held in conjunction with other charities administered by The jerusalem and the East
Mission Trust Limited, being The jerusalem and the Middle East Church A550ciation, Trust Property Held in connection
with the Episcopal Church in Egypt, The Arthur lones Travel Bursary Trust and the jerusalem Bishopric Fund
The financial statements comply with current statutory requirements, the trust deed and the Statement of
Recommended Practice Accounting and Reporting by Charities.
Recruitment, appointment, induction and training of new trustees
The custodian trustee of the Charity is The Jerusalem and the East Mission Trust Limited.
The policy for recruitment and training of directors of the company is as follows..
New directors are recommended to fill vacancies by existing directors, Bishops of the Provinces or others closely
associated with the Charity's activities. Prospective directors are interviewed by the chair and other directors as
appropriate and detai15 including full Cvs are submitted to the board for approval. Prospective directors are given an
introduction to the work of the Charity and information on the role of trustees and charity law. Charity Commission
publications are regularly distributed to the directors.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number
313916
Principal address
l Hart House
The Hart
Farnham
Surrey
GU9 7HJ
Page 4

St Mary's Waqf
a charity administered by The
Jerusalem and the East Mission
Trust Limited
Report of the Trustees
for the Year Ended 30th June 2024
Trustees
Rt RevAJ Ball (Chairl
J M Clark
Rev Canon Dr W H Taylor Iresigned 2. 12,231
D A Wright
l G Pringle Ire5igned 29.11.231
Dr C Amos
Rev Canon Dr M l Rhodes Iresigned 29.11.231
Rev Y Said
Rev C M Dawkins
C A Hawkev
Independent Examiner
D A Sanders BAIHonsl FCA
Sheen Stickland
Chartered Accountants
2 Oriel Court
Omega Park
Alton
Hampshire
GU34 2YT
Legal Advisors
Winckworth Sherwood LLP
Arbor
255 Blackfriars Road
London
SEI 9AX
Investment Managers
CCLA Investment Management Limited
One Angel Lane
London
EC4R 3AB
EVENTS SINCE THE END OF THE YEAR
Information relating to events since the end of the year is given in the notes to the financial statements.
Approved by order of the board of trustees on
*. and signed on its behalf bv..
RtRevAllaI￿T
stee
Page 5

Independent Examiner's Report to the Trustees of
St Mary's Waqf
Independent examiner's report to the trustees ofst Mary's Waqf
I report to the charity trustees on my examination of the account5 of St Ma ry's Waqf (the Trust) for the year ended
30th lune 2024.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the
requirements of the Charities Act 20111'the Act'l.
I report in respect of my examination of the Trust's accounts carried out under Section 14S of the Act and in c3rrying
out my examination I have followed all applicable Directions given by the Charity Commission under Section 14515llbl
of the Act.
Independent examiner's Statement
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body, I can confirm
that l am qualified to undertake the examination because l am a member ol the Institute of Chartered Accountants in
England and Wales, which is one of the11gted bodies.
I have completed my examination. I confirm that no materia5 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 Trust a5 required by Section 130 of the Act,. or
the accounts do not accord with those records,. or
the accounts do not comply with the applicable requirements concerning the form and content of account5 set
out in the Charities IAccounts and Reports) Regulations 2008 other than any requirement that the accounts
give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come acr055 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.
D A Sander5 8AIHons1 FCA
Sheen Stickland
Chartered Accountants
2 Oriel Court
Omega Park
Alton
Hampshire
GU34 2YT
Date..
P3ge 6

St Mary's Waqf
a charity administered by The
Jerusalem and the East Mission
Trust Limited
Statement of Financial Activities
for the Year Ended 30th June 2024
2024
Total
funds
2023
Total
funds
Unrestricted
fund
Restricted
fund
Note5
INCOME FROM
Investment income
Other income
56,370
23,237
684,930
79,607
684,930
55,086
Total
56,370
708,167
764,537
55,086
EXPENDITURE ON
Charitable activities
Support fcir the work of the EpiscopallAnglican
Province of Alexandria
9,132
2.966
12,098
55,105
Net gains on investments
135,310
42,839
178,149
14,915
NET INCOME
182,548
748,040
930,588
14,896
RECONCILIATION OF FUNDS
Total funds brought forward
1,953,140
1,953,140
1,938,244
TOTAL FUNDS CARRIED FORWARD
2,135,688
748,040
2,883,728
1,953,140
The notes form part of these financial slaternent5
Page 7

St Mary's Waqf
a charity administered by The
Jerusalem and the East Mission
Trust Limited
Balance Sheet
30th June 2024
2024
Total
funds
2023
Total
funds
Unrestricted
fund
Restricted
fund
Notes
FIXED ASSETS
Investments
2,071,797
706,437
2,778,234
1,936,487
CURRENT ASSETS
Debtors
Cash at bank
io
14,340
57,201
13,902
30,667
28,242
87,868
61,886
1,767
71,541
44,569
116,110
63,653
CREDITORS
Amounts falling due within one year
li
17,6501
12,9661
110,6161
147,0001
NET CURRENT ASSETS
63,891
41,603
105,494
16,653
TOTAL ASSETS LESS CURRENT LIABILITIES
2,135,688
748,040
2,883,728
1,953,140
NET ASSETS
2,135,688
748,040
2,883,728
1,953,140
FUNDS
Unrestricted fund5
Restricted funds
12
2,135,688
748,040
1,953,140
TOTAL FUNDS
2,883,728
1,953,140
The financial statements were approved by the Board of Trustees and authorised for issue
and were signed on ils behalf bv..
on
Rt Permalk-
rustee
Rev C M Dawkins - Trustee
The notes form part of these financial statements
Page 8

St Mary'5 Waqf
a charity administered by The
Jerusalem and the East Mission
Trust Limited
Cash Flow Statement
for the Year Ended 30th June 2024
2Q24
2023
Notes
Cash flows from operating activities
Cash generated from operations
670,092
154,8441
Net cash provided by/lu5ed in) operating activities
670,092
154,8441
Cash flows from investlng activities
Acquisition of fixed asset investments
Interest received
Dividends received
1663,5981
2,421
77,186
706
54,380
Net cash lused inl/provided by investing activitie5
1583,9911
55,086
Change in cash and cash equlvalents in the
reporting period
Cash and cash equivalents at the beginning
of the reporting period
86,101
242
1,767
1,525
Cash and cash equivalents at the end of
the reporting period
87,868
1,767
The notes form part of these financial stateryients
Page 9

St Mary's Waqf
a charity administered by The
Jerusalem and the East Mission
Trust Limited
Note5 to the Cash Flow Statement
for the Year Ended 30th June 2024
RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
2024
2023
Net income for the reporting period las per the Statement of Financial
Attivitiesl
Adjustments for:
Gain on investments
Interest received
Dividend5 received
Decreasellincreasel in debtors
IDeCreasell￿ncrea5e in creditors
930,S88
14,896
1178,1491
12,4211
177,1861
33,644
136,3841
114,9151
17061
154,3801
146,7391
47,000
Net cash provided by/lused Inl operations
670,092
154,8441
ANALYSIS OF CHANGES IN NET FUNDS
At 1.7.23
Cash flow
At 30.6.24
Net cash
Cash at bank
1,767
86,101
87,868
1,767
86,101
87,868
Total
1,767
86,101
87,868
The note5 form part of these financial statements
Page 10

St Mary's Waqf
charity administered by The
Jerusalem and the East Mission
Trust Limited
Notes to the Financial Statements
for the Year Ended 30th June 2024
ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial Statements of the Charity, which is a public benefit entity under FRS 102, have been prepared in
accordance with 'Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to
charities preparing their accounts in accordance with the Financial ReportinE Standard applicable in the UK
and Republic of Ireland IFRS 1021 (effective 1st january 20191 (Charities SORP IFRS 10211,, 'The Financial
Reporting Standard applicable in the UK and Republic of Ireland - IFRS1021' and the Charities Act 2011.
The financial statementg have been prepared under the historical cost convention with the exception of
investments which are included at market value, as modified by the revaluation of certain assets.
The financial statements have been prepared on the going concern basis as in the opinion of the trustees the
effects ol the current internation31 and financial situations will not significantly impact on either the value of
the charity's investments or its investment income in the long term.
Income
All income is recognised in the Statement of Financial Activities once the Charity has entitlement to the funds,
it is probable that the income will be received and the amount can be measured reliably.
Investment income is recognised on a receivable basis and income accrued but not received al the year end is
included in prepayments and accrued income.
Expenditure
Liabilities are recognised as expenditijre as soon as there is a legal or constructive obligation committing the
Charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement
and the amount of the obligation can be measured reliably. Expenditure is accounted lor on an accruals basis
and has been classified under headings that aggregate all cost related to the category. Where costs cannot be
directly attributed to particular headings they have been allocated lo activities on a basis consistent with the
use of resources.
Grants payable
Grants payable are taken to the Statement of Financial Activities in the year they are approved. Grants from
restricted income and funds are paid in accordance with the donors, wishes. Those paid from designated and
unrestricted income and funds are distributed at the discretion of the trustees, sometimes in consultation with
the archbishops and synods of the provinces.
Management charge
The management ch3rge is a support cost allocated to the activitie5 of the Charity on a basis consistent with
the use of resources, calculated by reference to the value of the funds as at 30th lune of each year and is used
to run the office5 of The jerusalem and the East Mission Trust Limited. The management charge is allocated
entirely to charitable expenditure.
Taxation
A5 3 registered charity no liability to direct taxation arises on the charitable activities.
Fund accounting
Restritted Funds
Income received for restricted purposes is retained in a separate fund to the extent that such amounts remain
un5pental the yearend.
Pase 11
continued...

St Mary's Waqf
a charity administered by The
Jerusalem and the East Mission
Trust Limited
Notes to the Financial Statements- continued
forthe Year Ended 30th June 2024
ACCOUNTING POLICIES- continued
Investments
Investments are stated at mid-market value at the balance sheet date. All movements in value arising from
investment changes are shown in the Statement of Financial Activities,
Unrealised gainsllosses are the difference in market value of investrnents held at the beginning of the year, or
their c05t if purchased in the year, and at the end of the year.
INVESTMENT INCOME
2024
2023
Income from listed investments
Deposit account interest
77,186
2,421
54,380
706
79,607
55,086
All investment income derives from listed investments in The C8F Church of England Funds.
OTHER INCOME
2024
2023
Funds transferred
684,930
Other income represents the value of the funds held for Holy Trinity Church, Algiers transferred to the charity
in the year.
CHARITABLE A￿1VITIEs COSTS
Support
costs Isee
note 61
Support for the work of the
Epi5copal/Anglican Province of
Alexandria
12,098
No grants were made in the year. Support costs comprise the management service charge which has been
taken entirely to charitable expenditure.
Page 12
continued...

St Mary'5 Waqf
a charity administered by The
Jerusalem and the East Mission
Trust Limited
Notes to the Financial Statements- continued
for the Year Ended 30th June 2024
GRANTS PAYABLE
2024
2023
Support for the work of the Episcopal/Anglican Province of Alexandria
47,000
The total grants paid to institutions during the year was a5 follows..
2024
2023
Diocese of Egypt
47,000
SUPPORT COSTS
Management
Support for the work of the
EpiscopallAnglican Province of Alexandria
12,098
TRUSTEES, REMUNERATION AND BENEFITS
The Jerusalem and the East Mission Trust Limited Ithe company) when acting as trustee received remuneration
in the form of a service charge of £12,09812023 - £8,105). £10,616 was owed by the Charity to The Jerusalem
and the East Mission Trust Limited in respect of service charge as al 30th lune 202412023 overpaid £1,482),
and is included as a creditor on the balance sheet.
£Nil12023- £47,000) wa5 owed to the charity by the Jerusalem and the East Mission Trust Limited in respect of
unpaid grants as at 30th June 2024.
The Directors of the company did not receive any remuneration or expenses from the Charity.
Trustees, expenses
There were no trustees, expenses paid for the year ended 30th June 2024 nor for the year ended
30th lune 2023,
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
All of the income, expenditure and net gains and losses on investments in the year ended 30th June 2023
relate to the then one unrestricted fund of the charity.
Page 13
continued...

St Mary's Waqf
a charity administered by The
Jerusalem and the East Mission
Trust Limited
Notes to the Financial Statements - continued
for the Year Ended 30th June 2024
FIXED ASSET INVESTMENTS
2024
2023
Shares
Loans
2,618,234
160,000
1,776,487
160,000
2,778,234
1,936,487
Additional information as follows..
Listed
investments
MARKETVALUE
At 1st July 2023
Transfers in
Revaluations
1,776,487
663,598
178,149
At 30th lune 2024
2,618,234
NET BOOKVALUE
At 30th lune 2024
2,618,234
At 30th June 2023
1,776,487
The
Jerusalem
and The
East
Mission
Trust
Limited
At 1st july 2023 and 30th June 2024
160,000
Cost or valuation at 30th June 2024 is represented by..
Listed
investments
Valuation in 2024
2,618,234
The historical cost of listed fixed a55et investments was E941,01012023.. £277,412).
Page 14
continued...

St Mary's Waqf
a charity administered by The
Jerusalem and the East Mission
Trust Limited
Notes to the Financial Statements- continued
for the Year Ended 30th June 2024
FIXED ASSET INVESTMENTS- continued
In the case of investments held on behalf of Holy Trinity Church, Algiers, cost represents the market value of
the inve5tment5 at the date of transfer to the charity.
The loan of £160,000 is to The lerLisalem and the East Mission Trust Limited. The service charge made by the
company to St Mary's Waqf is adjusted to reflect a S% interest rate. This is considered by the trustee5 to
represent an arms length commercial interest rate.
io.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
2023
Debtors
The Jerusalem and The East Mission Trust Limited
Prepayments and accrued income
1,482
47,000
13,404
6,670
21,572
28,242
61,886
ii.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
2023
Grants payable
Accruals and deferred income
47,000
10,616
10,616
47,000
12.
MOVEMENT IN FUNDS
Net
movement
in funds
At
30.6.24
At 1.7.23
Unrestrirted funds
General fund
1,953,140
182,548
2, 135,688
Restricted f unds
Holy Trinity Church, Algiers
748.040
748,040
TOTAL FUNDS
1,953,140
930,588
2,883,728
Page 15
continued...

St Mary's Waqf
a charity administered by The
Jerusalem and the East Mission
Trust Limited
Notes to the Financial Statements- continued
forthe Year Ended 30th June 2024
12.
MOVEMENT IN FUNDS- continued
Net movement in funds, included in the above are as follows..
Incoming
resources
Resources
expended
Gains and
losses
Movement
in funds
Unrestricted funds
General fund
56,370
19,1321
135,310
182,548
Restricted funds
Holy Trinity Church, Algiers
708,167
12,9661
42,839
748,040
TOTAL FUNDS
764,537
112,0981
178,149
930,588
Comparatives for rnovement In funds
Net
movement
in funds
At
30.6.23
At 1.7.22
Unrestricted funds
General fund
1,938,244
14,896
1,953,140
TOTAL FUNDS
1,938,244
14,896
1,953,140
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
Resources
expended
Gains and
losses
Movement
i n funds
Unrestricted funds
General fund
55,086
155, 1051
14,915
14,896
TOTAL FUNDS
55,086
155,lOSI
14,915
14,896
By an agreement dated 21st March 2019, the Diocese of Egypt with North Africa and the Horn of Africa
received the sum of £1,100,000 as compensation for the Ioss of income in respect of a building owned by Holy
Trinity Church, Algiers. By an agreement between The jerusalem and the Middle East Church Association
IIMECAI, this amount was held on deposit by JMECA in a UK bank account. This fund was Subsequently
transferred to St. Mary's Waqf and is held as a restricted fund. The majority of this fund is now invested in CBF
Church of England fund5. Sums will be disbursed from this account at the request of the Diocese of North
Africa.
Page 16
continued.

St Mary's Waqf
a charity administered by The
Jerusalem and the East Mission
Trust Limited
Note5 to the Financial Statements- continued
for the Year Ended 30th June 2024
13.
RELATED PARTY DISCLOSURES
The Rt Rev A J Ball (the chair of the charity) is Bishop of the Diocese in North Africa within the Province of
Alexandria. As such there could be perceived to be a conflict of interest between this role and his position
within the charity. The trustees are aware of this potential conflict of interest and therefore the chair is not
involved in decisions regarding grants to be paid by the charity.
Other than as above and as detailed in note 7, there were no related party transactions for the year ended
30th June 2024.
14.
POST BALANCE SHEET EVENTS
On Ilth july 2024 the charity received a donation of £120,986 1$148,$001 net of fees from a US based donor
for the benefit of the Diocese of North Africa. This amount will be allocated as to £114,675 towards the
building of an educational focility in Chad and £6,311 for St George'5 Church, Tunis. This donation will be
reflected in the accounts for the year ended 30th lune 2025.
Following an approach by the Archbishop of Alexandria and recognising the origins of the charitv's capital, in
September 2024 the Trustees agreed that they would, in principle, be prepared to release a substantial portion
of that capital to fund the building of a school in the Diocese of Egypt. They have asked the Diocese to prepare
a business case to facilitate more detailed consideration of the proposal.
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