REGISTERED COMPANY NUMBER: 03688829 (England and Wales)

REGISTERED CHARITY NUMBER: 1076750

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

THE FOUNDATIONS TRUST

Page

Report of the Trustees

1

to

4

Independent Examiner's Report

5

Statement of Financial Activities

6

Balance Sheet

7

to

8

Notes to the Financial Statements

9

to

16

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 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 (FRS 102) (effective 1 January 2019).

This report contains a directors' report as required by company law.

OBJECTIVES AND ACTIVITIES

Objectives and aims

The objects of the charity are to advance the Christian religion and promote Christian theology in accordance with the Bible. More specifically, The Foundations Trust provides leadership and support for a range of connected projects based from the twelfth-century Round Church in the centre of Cambridge, exploring the relationship between Christianity and culture. The charity aims to explore the implications of the Christian religion for the human experience, and to trace the way an understanding of our shared human questions helps to introduce Christianity.

Significant activities

(a) Cambridge Ministry. The Round Church in Cambridge which hosts:

*

A Christian Heritage Visitor Centre, including a video presentation, at the Round Church, on relevant historic aspects of Cambridge; permanent exhibition panels; guided walks around Cambridge for all ages.

*

Conferences and special events, including Life in the Round and Cambridge Apologetics talks and discussions;

*

The Cambridge Christian Study Centre, with dedicated library, study desks and regular discussions

(b) University Ministry. We work in close partnerships with local, national and international university ministry charities, serving them through:

*

The development of written outputs, both online and print.

*

The provision of conferences, seminars and training programmes for students, academics and university ministry workers, including Forming a Christian Mind.

Public benefit

The trustees have considered the Charity Commission's general guidance on public benefit and, in particular, its supplementary guidance on the advancement of religion for the public benefit. The "Objectives and Activities" section of the report (above) provides a brief summary of activities undertaken together with a confirmation that the Trustees have had due regard to the general guidance on public benefit.

Visitors to the Round Church, by reading the exhibition and watching the film, hear of the positive contribution which Christianity has made in our culture from the foundation of the universities, the development of modern science, the development of humanitarian tradition and the rule of law and constitutional government.

Locals are reminded of Cambridge's significant religious history, something which is not a particular focus for any other tour providers in the vicinity.

Attendees at our events are all encouraged to think carefully about how they can make a positive contribution to society and how they can be better followers of Jesus Christ.

Volunteers

We have been grateful for the dedication of our Doorkeepers who man the welcome desk at the front of the church, our Guides who provide walks, those who help lead discussions in the Study Centre, those who take part in event planning teams, and those who speak at our seminars and events.

STRATEGIC REPORT

Achievements and performance

Achievements

In 2024, The Foundations Trust experienced exciting organisational growth - the projects emerging from our refreshed vision and activities continued to bear fruit and took advantage of expanding opportunities.

In particular, Life in the Round, the project which considers the relationship between contemporary culture and Christianity, hosted a wide range of talks and discussions over the course of the year. In Spring of 2024 we organised a fully booked event on faith and politics with Tim Farron, MP and Mark Meynell at St Catharine's College. Over the summer we hosted an event on peacebuilding in a war-torn world, and brought back our series of summer film nights with discussion. Our autumn event was at capacity and considered how J.R.R. Tolkien's Christian worldview shaped his literary creations. These events afforded additional profile to the Visitor Centre, and vice versa.

The Visitor Centre, the project which provides tourists and locals with an opportunity to engage with the Christian foundations of much of Cambridge's intellectual, social and cultural development, introduced Mandarin walking tours of Cambridge, catering to the many Chinese-speaking students and visitors to the city. The tour booking system and website were revamped, with the goal of streamlining processes and generating an uptick in bookings.

Cambridge Apologetics, the project dedicated to equipping Christians as they engage the thinkers around them with the hope of Christianity, developed its year-round Cambridge community through termly gatherings for seminars, including talks on questions arising from challenging passages in the Old Testament, the 'Surprising Genius of Jesus' and the 'hiddenness' of God.

Cambridge Apologetics held its second annual summer conference, which built on the success of the previous year's gathering. Our summer conference featured many experienced speakers, and helped us to continue developing relationships with supporters and local churches and to introduce new people to the work. Alongside the main conference was a track for academics in partnership with our university ministry, which itself continued to maximise its regular activities, which included an exciting year of growth in Study Centre membership and community, and the hosting of two Forming a Christian Mind conferences at St John's College. The major gathering in the spring served as a book launch for Oxford philosopher Dr Tom Simpson, and our discussion-based study day in the autumn marked the 35th anniversary of Charles Taylor's Sources of the Self. The conferences continue to act as a key hub for wider postgraduate student ministry networks nationally and internationally.

Internally, we appointed a new role of 'Ministry Support Officer' which provides three days' administrative support across our projects and two days theological study and ministry elective work. This role enabled us to focus on organisational development and take advantage of opportunities that would otherwise have not been possible due to staffing constraints.

Financial review

Financial position

Unrestricted income in the year totalled £216,688 (2023: £154,637). This position continued to reflect the impact of the ongoing pandemic upon our activities, which have historically been dependent upon visitor numbers.

At the end of the year, the cash at bank was £134,239 (2023: £88,197).

Reserves policy

Our aspiration is to reach a point where we will always hold three months of staff salaries in reserve.

Principal risks and uncertainties

The Trust continues to find that there is a greater demand for its work than can be sustained by its staff and volunteer team. After changing the name and structure of the Trust and reopening activities after COVID, our primary concern is to establish appropriate and sustainable ministry commitments while seeking to explore new ways of resourcing a growing work. This entails the inherent uncertainty of charitable fundraising. Risks are mitigated by ongoing investment in development and in seeking where possible to cover certain activities with short-term staff contracts and volunteers.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is a charitable company limited by guarantee and was incorporated on 24th December 1998. It is governed by articles of association which were adopted on 1 July 2014. Its objects and principal activity is to advance the Christian religion and promote Christian theology in accordance with the Bible. This is done in the following ways:

- By providing a visitor centre at the Round Church in Cambridge

- By providing guided walks around Cambridge

- By providing specific courses, seminars and lectures

- By providing a range of educaitonal, mentoring and apprenticeship programmes

Recruitment and appointment of new trustees

A panel comprising existing Trustees selects members of the Trustee Board at the suggestion of the Trustees. Trustees are selected both for their sympathy for and knowledge of the work of the Trust and for their professional skills. Trustees serve for a period agreed at the time of their appointment.

Organisational structure

At the present time there are six Trustees, one of whom is acting as Director. Alongside the reporting on the activities undertaken by the charity, the Trustees play an active role in overseeing the financials of the organisation, which includes the setting of the annual budget. They are also directly involved in the process of strategic planning, especially in the implementation of new vision. The activities of the Trust are organised on a project-by-project basis, each with its own brand name. The staff host and resource volunteer-based planning and implementation teams which are organized on a project-by-project basis, each with its own brand name and website offering a specific entry-point to an ecosystem of mutually-introducing activities, relationships and ideas.

Induction and training of new trustees

Candidates are well-known to the charity prior to appointment, and many have a wealth of experience in similar roles elsewhere. They are familiar with the work of the charity and the expectations that will therefore be placed upon them. Any technical issues which are beyond the remit of the existing expertise on the Board are outsourced to fit and proper individuals, possessed of the requisite skills.

Controls

The Trustees are satisfied that the current system of internal controls, financial or otherwise, are fit for purpose for the charity, given its current size and the funds involved. However, they are also aware that as the scope of the work grows, changes are likely to be required. Therefore, all roles are kept under review and improvements will be introduced when necessary. Existing systems and controls (monthly cashflow, forecasts, budgets and regular monitoring) are therefore being maintained, as well as reviewed for effectiveness, leading to an ongoing process of improvement.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

03688829 (England and Wales)

Registered Charity number

1076750

Registered office

The Round Church Vestry

Bridge Street

CAMBRIDGE

Cambridgeshire

CB2 1UB

Trustees

Rev R C Macaulay

T S Laurence

Dr L Brown

Prof J C Lennox

A L Mcilhinney

Rev Dr M H Lillicrap (resigned 19/12/2024)

Dr B Green (appointed 26/6/2025)

Independent Examiner

Matthew Pettifer FCA

Staffords

Chartered Accountants

Unit 1, Cambridge House

Camboro Business Park

Oakington Road, Girton

CAMBRIDGE

Cambridgeshire

CB3 0QH

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on 25 September 2025 and signed on the board's behalf by:

A L Mcilhinney - Trustee

Independent examiner's report to the trustees of The Foundations Trust ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2024.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 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 I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

1.	accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or

2.	the accounts do not accord with those records; or

3.	the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act 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; or

4.

the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

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.

Matthew Pettifer FCA

Staffords

Chartered Accountants

Unit 1, Cambridge House

Camboro Business Park

Oakington Road, Girton

CAMBRIDGE

Cambridgeshire

CB3 0QH

25 September 2025

2024

2023

Unrestricted

Restricted

Total

Total

funds

funds

funds

funds

Notes

£

£

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

3

18,600

63,304

81,904

155,303

Charitable activities

6

Ministry

130,000

15,000

145,000

41,401

Other trading activities

4

67,306

-

67,306

60,794

Investment income

5

782

-

782

857

Total

216,688

78,304

294,992

258,355

EXPENDITURE ON

Raising funds

540

-

540

320

Charitable activities

Ministry

136,419

115,424

251,843

280,223

Total

136,959

115,424

252,383

280,543

NET INCOME/(EXPENDITURE)

79,729

(37,120

)

42,609

(22,188

)

Transfers between funds

16

(59,214

)

59,214

-

-

Net movement in funds

20,515

22,094

42,609

(22,188

)

RECONCILIATION OF FUNDS

Total funds brought forward

87,989

7,920

95,909

118,097

TOTAL FUNDS CARRIED FORWARD

108,504

30,014

138,518

95,909

2024

2023

Unrestricted

Restricted

Total

Total

funds

funds

funds

funds

Notes

£

£

£

£

FIXED ASSETS

Tangible assets

12

1,434

-

1,434

1,913

CURRENT ASSETS

Stocks

13

2,284

-

2,284

2,590

Debtors

14

1,371

2,113

3,484

6,166

Cash at bank

106,227

28,012

134,239

88,197

109,882

30,125

140,007

96,953

CREDITORS

Amounts falling due within one year

15

(2,812

)

(111

)

(2,923

)

(2,957

)

NET CURRENT ASSETS

107,070

30,014

137,084

93,996

TOTAL ASSETS LESS CURRENT LIABILITIES

108,504

30,014

138,518

95,909

NET ASSETS

108,504

30,014

138,518

95,909

FUNDS

16

Unrestricted funds:

General fund

108,504

87,989

Restricted funds:

Personal Support 4

164

13,961

Personal Support 9

18

(31,276

)

Mandarin Project

6,165

6,166

Personal Support 12

11,109

9,271

Personal Support 14

2,683

145

IFES-FEUER

2,151

(499

)

Walach Foundation

9,757

10,152

Personal Support 15

(2,033

)

-

30,014

7,920

TOTAL FUNDS

138,518

95,909

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

(a)	ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 25 September 2025 and were signed on its behalf by:

A L Mcilhinney - Trustee

1.	LEGAL FORM

Christian Heritage is a company limited by guarantee and has no share capital. The Trust was incorporated in England and its registered office is The Round Church Vestry, Bridge Street Cambridge, CB2 1UB. The functional currency of the Trust is Sterling.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Public Benefit

Christian Heritage meets the definition of a public benefit entity under FRS 102.

Significant judgements

Apart from those judgements involving estimations, the management has not made any judgements in the process of applying the entity's accounting policies that have significant effect on the amounts recognised in the accounts. There are no key assumptions concerning the future or other key sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.

Financial reporting standard 102 - reduced disclosure exemptions

The charitable company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':

•

the requirements of Section 7 Statement of Cash Flows.

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.

Expenditure

Liabilities are recognised as expenditure 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 for 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 to activities on a basis consistent with the use of resources.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

20% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds:

The charity maintains a general unrestricted fund, which represents funds which are expendable at the discretion of the Trustees in furtherance of the objectives of the charity.

Restricted funds:

Restricted funds have been provided to the charity for particular purposes and it is the policy of the board of trustees to monitor carefully the application of those funds in accordance with the restrictions placed upon them.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Donated services

The charity has benefited from the contribution of unpaid general volunteers, but has not recognised this donated service in the accounts.

Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments and accrued income are recognised at the amount prepaid or accrued net of any trade discounts due.

Cash at bank and in hand

Cash at bank and in hand includes cash and short term highly liquid investments with a maturity of 3 months or less from the date of acquisition or opening of the deposit..

Creditors

Creditors are recognised when the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value

3.	DONATIONS AND LEGACIES

2024

2023

£

£

Donations- general

81,904

155,303

4.	OTHER TRADING ACTIVITIES

2024

2023

£

£

Shop income

67,306

60,794

5.	INVESTMENT INCOME

2024

2023

£

£

Deposit account interest

782

857

6.	INCOME FROM CHARITABLE ACTIVITIES

2024

2023

Activity

£

£

Grants

Ministry

145,000

41,401

Grants received, included in the above, are as follows:

2024

2023

£

£

Christ Church Cambridge

2,500

1,500

JW Laing Trust

30,000

24,000

IFES

-

1,893

Walach Foundation

-

10,152

Keith and Margaret Ellis Charity

-

1,256

Eden Baptist Church

1,500

1,500

Dorcas Trust

-

1,000

Genesis Research & Education Foundation

-

100

Daily Prayer

1,000

-

Ardbarron Trust

2,000

-

Fieldsdene Trust

5,000

-

Reach Fund

80,000

-

Andrew Anderson Trust

20,000

-

Standfield Charitable Trust

3,000

-

145,000

41,401

7.	NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

2024

2023

£

£

Depreciation - owned assets

479

637

8.	INDEPENDENT EXAMINERS' REMUNERATION

The Independent Examiner received remuneration of £2,700 (2023: £2,400) for the examination of the Financial Statements.

9.	TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2024 nor for the year ended 31 December 2023.

There was no Trustees compensation in the year.

Key personal management personnel were compensated £90,599 (2023: £53,957).

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 December 2024 nor for the year ended 31 December 2023.

10.	STAFF COSTS

2024

2023

£

£

Wages and salaries

92,152

106,839

Social security costs

3,134

4,451

Other pension costs

1,997

2,346

97,283

113,636

The average monthly number of employees during the year was as follows:

2024

2023

Number of full time staff

4

4

No employees received emoluments in excess of £60,000.

11.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted

Restricted

Total

funds

funds

funds

£

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

88,280

67,023

155,303

Charitable activities

Ministry

5,356

36,045

41,401

Other trading activities

60,144

650

60,794

Investment income

857

-

857

Total

154,637

103,718

258,355

EXPENDITURE ON

Raising funds

320

-

320

Charitable activities

Ministry

163,670

116,553

280,223

Total

163,990

116,553

280,543

NET INCOME/(EXPENDITURE)

(9,353

)

(12,835

)

(22,188

)

Transfers between funds

(9,117

)

9,117

-

Net movement in funds

(18,470

)

(3,718

)

(22,188

)

RECONCILIATION OF FUNDS

Total funds brought forward

106,459

11,638

118,097

TOTAL FUNDS CARRIED FORWARD

87,989

7,920

95,909

12.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 January 2024 and 31 December 2024

51,935

DEPRECIATION

At 1 January 2024

50,022

Charge for year

479

At 31 December 2024

50,501

NET BOOK VALUE

At 31 December 2024

1,434

At 31 December 2023

1,913

13.

STOCKS

2024

2023

£

£

Stocks

2,284

2,590

14.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Other debtors

-

197

Prepayments

3,484

5,969

3,484

6,166

15.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Other creditors

223

484

Accruals and deferred income

2,700

2,473

2,923

2,957

16.	MOVEMENT IN FUNDS

Net

Transfers

movement

between

At

At 1/1/24

in funds

funds

31/12/24

£

£

£

£

Unrestricted funds

General fund

87,989

79,729

(59,214

)

108,504

Restricted funds

Personal Support 4

13,962

(13,798

)

-

164

Personal Support 9

(31,276

)

(27,920

)

59,214

18

Mandarin Project

6,165

-

-

6,165

Personal Support 12

9,271

1,838

-

11,109

Personal Support 14

145

2,538

-

2,683

IFES-FEUER

(499

)

2,650

-

2,151

Walach Foundation

10,152

(395

)

-

9,757

Personal Support 15

-

(2,033

)

-

(2,033

)

7,920

(37,120

)

59,214

30,014

TOTAL FUNDS

95,909

42,609

-

138,518

Net movement in funds, included in the above are as follows:

Incoming

Resources

Movement

resources

expended

in funds

£

£

£

Unrestricted funds

General fund

216,688

(136,959

)

79,729

Restricted funds

Personal Support 4

19,848

(33,646

)

(13,798

)

Personal Support 9

10,724

(38,644

)

(27,920

)

Personal Support 12

22,356

(20,518

)

1,838

Personal Support 14

11,538

(9,000

)

2,538

IFES-FEUER

7,512

(4,862

)

2,650

Walach Foundation

-

(395

)

(395

)

Personal Support 15

6,326

(8,359

)

(2,033

)

78,304

(115,424

)

(37,120

)

TOTAL FUNDS

294,992

(252,383

)

42,609

Comparatives for movement in funds

Net

Transfers

movement

between

At

At 1/1/23

in funds

funds

31/12/23

£

£

£

£

Unrestricted funds

General fund

106,459

(9,353

)

(9,117

)

87,989

Restricted funds

Personal Support 4

12,049

(786

)

2,698

13,961

Personal Support 9

(10,541

)

(20,735

)

-

(31,276

)

Mandarin Project

7,160

(994

)

-

6,166

Personal Support 12

7,029

2,242

-

9,271

Personal Support 13

(4,059

)

(2,360

)

6,419

-

Personal Support 14

-

145

-

145

IFES-FEUER

-

(499

)

-

(499

)

Walach Foundation

-

10,152

-

10,152

11,638

(12,835

)

9,117

7,920

TOTAL FUNDS

118,097

(22,188

)

-

95,909