REGISTERED COMPANY NUMBER: 06559501 (England and Wales)

REGISTERED CHARITY NUMBER: 1125129

Report of the Trustees and

Unaudited Financial Statements

for the Year Ended 30th September 2025

for

The Bishop & Sewell Foundation

Page

Report of the Trustees

1

to

2

Statement of Financial Activities

3

Balance Sheet

4

Notes to the Financial Statements

5

to

9

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 30th September 2025. 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).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The charity is established for the benefit of the the public living, working or studying within the administrative area of Greater London comprising the City of London and the 32 London Boroughs, to support such general charitable purposes as the Management Committee may from time to time determine.

When planning the activities of the charity the Management Committee have considered the Commissioner's guidance on public benefit.

ACHIEVEMENTS AND PERFORMANCE

During the year to 30th September 2025 the charity received donations of £527.

During the year the charity made the following donations;

£1,000 to St Mungo's Community Housing Association

£1,000 to Mary Ward Centre

£2,000 to Camden Food Bank (Redeemed Christian Church of God)

FINANCIAL REVIEW

Reserves policy

The trustees aim to maintain reserves in unrestricted funds at a level which equates to approximately 3 months unrestricted charitable expenditure. The trustees consider that this level will provide sufficient funds to respond to applications for grants and to ensure that there are sufficient funds available to cover support and governance costs.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is a company limited by guarantee as defined by the Companies Act 2006 and was incorporated on 8th April 2008. The charity is governed by its Memorandum and Articles of Association dated 8th April 2008, and registered as a charity on 22nd July 2008.

In the event of the company being wound up members are required to contribute an amount not exceeding £1.

Recruitment and appointment of new trustees

The directors of the company are also charity trustees for the purposes of charity law and under the company's Articles are known as members of the Management Committee.

Under the Articles of the company the minimum number of members of the Management Committee is 3, whilst no maximum number has been set. All the members of the Management Committee are required to retire at the Annual General Meeting and are eligible for re-election.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

06559501 (England and Wales)

Registered Charity number

1125129

Registered office

59-60 Russell Square

London

WC1B 4HP

Trustees

S C Bishop

A Swaine

N F Potter

M Chick

D A Little

C J McCarthy

N H Barlow

K L Bright

Company Secretary

Bishop & Sewell Secretaries Limited

Director

Bishop & Sewell Directors Limited

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

Approved by order of the board of trustees on 15th April 2026 and signed on its behalf by:

M Chick - Trustee

2025

2024

Unrestricted

Total

fund

funds

Notes

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

527

8,895

Investment income

2

184

225

Total

711

9,120

EXPENDITURE ON

Charitable activities

Donations

4,000

4,500

Other

780

756

Total

4,780

5,256

Net gains on investments

775

8,616

NET INCOME/(EXPENDITURE)

(3,294

)

12,480

RECONCILIATION OF FUNDS

Total funds brought forward

81,339

68,859

TOTAL FUNDS CARRIED FORWARD

78,045

81,339

2025

2024

Unrestricted

Total

fund

funds

Notes

£

£

FIXED ASSETS

Investments

6

77,470

76,695

CURRENT ASSETS

Cash at bank

2,112

5,401

CREDITORS

Amounts falling due within one year

7

(1,537

)

(757

)

NET CURRENT ASSETS

575

4,644

TOTAL ASSETS LESS CURRENT LIABILITIES

78,045

81,339

NET ASSETS

78,045

81,339

FUNDS

8

Unrestricted funds

78,045

81,339

TOTAL FUNDS

78,045

81,339

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th September 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th September 2025 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 15th April 2026 and were signed on its behalf by:

M Chick - Trustee

1.	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, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.

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.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

Taxation

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

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Fixed asset investment

Listed investments are recognised initially at cost which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value.

2.	INVESTMENT INCOME

2025

2024

£

£

Dividend income received

184

225

3.	TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 30th September 2025 nor for the year ended 30th September 2024.

Trustees' expenses

There were no trustees' expenses paid for the year ended 30th September 2025 nor for the year ended 30th September 2024.

4.	STAFF COSTS

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

2025

2024

Trustees

8

8

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

5.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted

fund

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

8,895

Investment income

225

Total

9,120

EXPENDITURE ON

Charitable activities

Donations

4,500

Other

756

Total

5,256

Net gains on investments

8,616

NET INCOME

12,480

RECONCILIATION OF FUNDS

Total funds brought forward

68,859

TOTAL FUNDS CARRIED FORWARD

81,339

6.	FIXED ASSET INVESTMENTS

Listed

investments

£

MARKET VALUE

At 1st October 2024

76,695

Revaluations

775

At 30th September 2025

77,470

NET BOOK VALUE

At 30th September 2025

77,470

At 30th September 2024

76,695

There were no investment assets outside the UK.

Cost or valuation at 30th September 2025 is represented by:

Listed

investments

£

Valuation in 2016

5,705

Valuation in 2017

5,931

Valuation in 2018

9,236

Valuation in 2019

5,934

Valuation in 2020

6,707

Valuation in 2021

11,396

Valuation in 2022

(7,777

)

Valuation in 2023

5,947

Valuation in 2024

8,616

Valuation in 2025

775

Cost

25,000

77,470

7.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Accrued expenses

1,537

757

8.	MOVEMENT IN FUNDS

Net

At

movement

At

1.10.24

in funds

30.9.25

£

£

£

Unrestricted funds

General fund

81,339

(3,294

)

78,045

TOTAL FUNDS

81,339

(3,294

)

78,045

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

Incoming

Resources

Gains and

Movement

resources

expended

losses

in funds

£

£

£

£

Unrestricted funds

General fund

711

(4,780

)

775

(3,294

)

TOTAL FUNDS

711

(4,780

)

775

(3,294

)

Comparatives for movement in funds

Net

At

movement

At

1.10.23

in funds

30.9.24

£

£

£

Unrestricted funds

General fund

68,859

12,480

81,339

TOTAL FUNDS

68,859

12,480

81,339

Comparative net movement in funds, included in the above are as follows:

Incoming

Resources

Gains and

Movement

resources

expended

losses

in funds

£

£

£

£

Unrestricted funds

General fund

9,120

(5,256

)

8,616

12,480

TOTAL FUNDS

9,120

(5,256

)

8,616

12,480

A current year 12 months and prior year 12 months combined position is as follows:

Net

At

movement

At

1.10.23

in funds

30.9.25

£

£

£

Unrestricted funds

General fund

68,859

9,186

78,045

TOTAL FUNDS

68,859

9,186

78,045

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Incoming

Resources

Gains and

Movement

resources

expended

losses

in funds

£

£

£

£

Unrestricted funds

General fund

9,831

(10,036

)

9,391

9,186

TOTAL FUNDS

9,831

(10,036

)

9,391

9,186

9.	RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 30th September 2025.