CHRISTIAN PEACE EDUCATION FUND FINANCIAL STATEMENTS FOR THE YEAR ENDED 3 1st DECEMBER 2024 Reglstered Charlty Number: 326266
CHRISTIAN PEACE EDUCATION FUND REPORT AND ACCOUNTS 3 1st December 2024 Officers and Advisers Report of the Trustees Report of the Independent Examiner Statement of Financial Activities Balance Sheet Notes to the Accounts
CHRISTIAN PEACE EDUCATION FUND OFFICERS AND THEIR ADVISERS REGISTERED OFFICE St. Joseph's Watford Way Hendon LONDON NW4 4TY CHARITY NUMBER 326266 TRUSTEES Sheila Gallagher Margaret McNulty Anne Nugent Mary Ryan John Williams GENERAL SECRETARY Ed Tiemey BANKERS The Royal Bank of Scotland plc Drummond House l Redheughs Avenue EDINBURGH EH12 9JN INDEPENDENT EXAMINER David Warren, F.C.A. 15 City Business Centre Lower Road LONDON SE16 2XB Page I
CHRISTIAN PEACE EDUCATION FUND REPORT OF THE TRUSTEES The trustees of the Christian 8eace Education Fund present their report and the flnancial statements for the year ended 3 1st December 2024. STRUCTURE, GOVERNANCE AND MANAGEMENT The Pund was set up by dedaration of trust dated 19th November 1982 for the education of the public, particularly in schools, colleges, universities and parishes, in the sciences and disciplines concerned with the creation and maintenanc.e of peace in the light of Christian teaching. It is a registered charity, number 326266. Its trustees, of whom there must be at least four, manage the charity. Continuing trustees can select and appoint new trustees. OBJECTS AND ACTIVITIES The primary aim of the Pund is to promote peace through education foT all ages, based on Christian teaching. While grants are small, the trustees are pleased that the Pund has been able to encourage and facilitate sorne creative initiatives over the years - allowing projects to happen that may not othenvise have been realised. ACHIEVEMENTS AND PERFORMANCE The charity awarded six grants to various projects including £179 for attendance at a peace seminar in Rome, £800 to Peace Education Scotland for education packs for teachers £800 to the Woodcraft Folk towards exploring peace and conflict at Camp 100. £500 to support research leading to a book on Church Mission and Peace Building in East Africa, £1,000 to the Fellowship of Reconciliation towards organising a peace conference and £13,000 to support the peace education work of Pax Christi. FINANCIAL REVIEW During the year under review the Fund had net excess of income over expenditure of £73, 138 (2023 net defictt £12,331 J. Income from donations and legacies was £88,577 (2023 £4, 620J. Two legacies amounting to £85,000 were received this year (2023 none). The trustees rnade grants of £16.279 (2023 £16,450) to groups and individuals. Details have been given above and on page 7. RESERVES POLICY Total reserves at the end of the year were £100,3 17 (2023 £27, 179). The policy is to hold a reserve th2t is sufficient for the fund to continue its work for the next three years. TRUSTEES The trustees during the year under review were.'- Sheila Gallagher Margaret McNulty Anne Nugent STATEMENT OF TRUSTEES. RESPONSIBILITIES The trustccs are required by the Charities Act to prepare a report for each financiaj period on the resources entrusted to the chaTity and the activitics it undertakes. In preparing those financial statenents the trustees=_ select suitable accounting policies and then apply them consistently. make judgments and estimates that are reasonable and prudent. prepare the accounts on the going concern basis unless it is inappropriate to presume that the charity will continue to operate. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enables them to ensure that the financial statements comply with the Charities Act 20 1 l. They are also responsible for sateguarding the assets of the charity and hence for taking reasonable steps for the prevention and detec.tion of fraud and other irregularities. Mary Ryan John Williams Signed on behr of the Trustees October 2025 Page 2
CHRISTIAN PEACE EDUCATION FUND n¥DEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE CHRISTL4N PEACE EDUCATION FUND I report to the trustees on my examination of the accounts of the Christian Peace Education Fund lthe Fund) for the year ended 3 1st DeceLnber 2024. Responslbllities and bas18 of report As the charity trustees of the Fund you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 20 11 l.the Aet.). I report in respect of my examination of the Fund's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 14515llbl of the Act. Independent examiner's statement I have completed my examination. I confm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: lal accounting records were not kept in respect of the Fund as required by section 130 of the Act. or Ibl the accounts do not accord with those records. or Icl the accounts do not comply with the applicable requirements concerning the fomi and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a °true and laiff view which is not a matter considered as part of an independent examination. 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. DAVID WARREN. F.C.A. Cocke, Vellacott & Hill 15 City Business Centre Lower Road LONDON SE16 2XB 13 OT0C 2025 Page 3
CHRISTIAN PEACE EDUCATION FUND STATEMENT OF FIfiAIqCIAL ACTtVlTIES for the year ended 3 1st December 2024 Unrestricted Restricted Endowment Total Funds Total Punds Funds Funds Fund 2024 iqote 2023 Income from Donations and Grants Legacies Tax recoverable under gift aid Investment income and interest 3,577 85,000 498 1,267 3,577 85,000 498 1,267 3,844 776 451 Total 90,342 90,342 5,071 Expenditure on Raising funds Charitable activities Grants payable Administrator Office sundries Governance 180 16,279 750 16,279 750 16,450 75Q 57 612 624 624 Total 17,653 17.653 18,049 Net gains Ilossesl on investments 449 449 647 Net Income I lexpenditUTel 72,689 449 73,138 (12,331) Transfers between funds Net movement in funds 72,689 449 73.138 (12,331) Reeoneiliation of funds Total funds brought fonvard 25,991 1,188 27,179 39,510 Total funds carried fonvard 98.680 1,637 100,317 27,179 All of the above results were derived from continuing activities and there are no other recognised gains and losses other than the above. Based on historical cost the equiv8Jent net gain for the year is £72.3 14 (2023- iiet loss £13,802). The notes on pages 6 ond 7forTnpart of the finoncial statements. Page 4
CHRISTIAN PEACE EDUCATION FUND BALANCE SHE as at 3 1st December 2024 Note 2024 2023 FIXED ASSETS Investments 1.637 1,188 CURREIqT AssFrs Debtors Cash at bank 3.066 98,676 19391 3,548 25,175 379 deposit account current account 100,803 29,102 LIABILITIES Creditors.. Amounts falling due within one year Accruals 12, 1231 f3,IllJ Net current assets Iliabilitiesl 98,680 25.991 NFf AssErs 100,317 27,179 THE FUfqDS OF THE CHARITY Endowment funds Expendable endowment fund Restricted income funds Christi Fund 1.637 1,188 Unrestricted income funds General reserve Revaluation reserve 98,680 25,991 TOTAL CHARITY FUNDS 100,317 27,179 The financial statements were approved by the Trustees on 6 October 2025 and signed on their behalf by: Trustee The notes on pages 6 and 7fonnpart of the fintxncial stateentS. Page 5
CHRISTIAIY PEACE EDUCATION FUND NOTES TO THE ACCOUNTS for the year ended 3 1st December 2024 ACCOUNTING POLICIES (al Basis of accountlng The financial statements are prepared under the historical cost convention as modified by the revaluation of fixed asset investments and follow the recommendations of the Charity Commission in 'Charities SORP IFRS 1021" and the Financial Reporting Standard applicable An the United Kingdom and Republic of Ireland IFRS I021 and the Charities Act 2011. Ibl Incoming resources In preparing the accounts, the trustees have considered whether in applying the accounting policies required by FRS 102 and the Charities SORP IFRS 1021 a restatement of comparative items was needed. No statements were required Ic/f note Sl. Icl Resourees expended Liabilities, including VAT, are recognised as soon as there is a legal or constructive obligation committing the charity to the expenditure. Expenditure is included in the statement of financial activities on an accruals basis. Expenditure incurred on activities falling directly within one cost category is attributed to that category. Expenditure, which involves more than one cost category> IS apportioned on a reasonable, justifiable and consistent basis to the cost categories involved. Idl Charltable activities This includes the making of grants and the expenses involved in making those grants. Grants payable are those grants that have been recognised as payable or for which a moral obligatson to pay the grant exists. lel Governance costs Governance costs comprise all costs involving the public aceountabJity of the Fund and its compliance with regulations and good practice. These costs include costs related to the statutory audit. lfj Investments Investments are initially recognised at their transaction vaLue and subsequently included in the financial statements at their fair value as at the balance sheet date. For listed investments, fair value is based on the closing middle market price on a recognised stock exchange. Gains and losses on disposals of investtnents are taken to the statement of financial activities. Unrealised gains and losses go through the statetnent or rinancial activitics from where they are transferred directly to the investment revaluation reserve. Investment incorne has been taken into account on the basis of the due date of payment. Igl TaxatAon The Fund is a charity and does not carry out any trading activities. It is therefore considered that the Fund is not liable to taxation on its activities. Ihl Funds EndOwentfvrtd.. expendcd)le The Fund represents investments listed on a recognised stock exchange, the investments having been donated to Christian Peace Educatson Fund. The Fund balance at the balance sheet date reflects the market value of the inVeStents. Restricted inC0endS The Pax Christi Fund arose from specific grants and donations for the work of Pax Christi. Unrestricted tncoFnefvnds.' General reserve The balance on general reserve represents the surplus funds of the charity to be expended in the neaT future RevaluotioTL reserve.. The balance on revaluation reserve represents the difference between the increase in market value of investments at the year end and their historical cost. Page 6
CHRISTIAN PEACE EDUCATION FUND NOTES TO THE ACCOUNTS for the year ended 3 1st December 2024 INVESTMENTS 2024 2023 Marks and Spencer Group, ord. 25p shares:_ Market value at start ol period Disposal Qain on disposal Unrealised gain / Ilossl for the period 1,188 541 449 647 Market value at end of period 1,637 1,188 Marks and Spencer Group. ord. 25p, at cost 2.012 2,012 Revaluation Reserve 3. CHAWTABLE EXPENDITURE Unrestricted Restricted 2024 2023 Grants payable.. Pax Christi for peace education work Five projects (2023-fiveJ 13,000 3,279 13,000 3.279 12,000 4,450 16,279 16,279 16,450 4. TRUSTEES None of the trustees received any rernuneration or expenses during the year (2023 none). There were no related party transactions in the year (2023 none). DEBTORS 2024 2023 Gift aid ta recoverable Prepayment 2,676 390 3,158 390 3,066 3,548 Page 7