Company registration number 01526048 (England and Wales)
Charity registration number 281454 (England and Wales)
ST. ELISABETH FOUNDATION LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2025
ST. ELISABETH FOUNDATION LIMITED
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
P. A. Freely
Mrs H,T Freely
Mrs I. M. Krauel
Secretary
Mrs H,T Freely
Country of incorporation
United Kingdom
01526048
(England and Wales)
Charity registration
England and Wales
281454
Registered office
Egerton
Mount Park Road
Harrow on the Hill
Middlesex
HA1 3JS
Independent examiner
HB Accountants
28 Plumpton House
Plumpton Road
Hoddesdon
Hertfordshire
EN11 0LB
ST. ELISABETH FOUNDATION LIMITED
CONTENTS
Page
Trustees' report
1 - 2
Independent examiner's report
3
Statement of financial activities
4
Balance sheet
5
Notes to the financial statements
6 - 10
ST. ELISABETH FOUNDATION LIMITED
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 30 NOVEMBER 2025
- 1 -

The trustees present their annual report and financial statements for the year ended 30 November 2025.

The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's trust deed, applicable law and the requirements of the Statement of Recommended Practice, "Accounting and Reporting by Charities" issued in March 2005.
Objectives and activities

The charity's objects are the relief of persons suffering from poverty, sickness or old age and of persons who are mentally or physically handicapped. To achieve these objects the charity makes grants to charitable organisations, hospitals, homes or institutions.

The trustees have had due regard to guidance published by the Charity Commission on public benefit and have paid due regard in deciding what activities the charity should undertake.

The trustees consider requests for grants from institutions and individuals in accordance with the investments return for the year and prudent protection for the funds.
Achievements and performance

During the year, the charity continued making grants to support persons suffering from poverty, sickness or old age and persons who are mentally or physically handicapped.

Financial review

The trustees consider the result for the year to be reasonable with an increase in dividend income and an increase in the valuation of the investments

The trustees have established a policy whereby the funds held by the charity should be at a level whereby the investment income generated at least covers the normal resources expended for the year. The trustees therefore consider that no further action is required.

The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

Structure, governance and management
The charity is a company limited by guarantee.

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

P. A. Freely
Mrs H,T Freely
Mrs I. M. Krauel
New trustees are identified and appointed by the existing trustees. The chair of the trustees is responsible for the induction of any new trustee. This involves awareness of a trustee's responsibilities, the governing document, administrative procedures, the history and philosophical approach of the charity. A new trustee would receive copies of the previous year's annual report and accounts and copies of relevant Charity Commission explanatory information.
The trustees meet regularly and manage the running of the charity. Under the trust deed, the charity has the power to make any investments which the trustees see fit. The trustees have assessed the major risks to which the charity is exposed and are satisfied that systems are in place to mitigate exposure to the major risks.
ST. ELISABETH FOUNDATION LIMITED
TRUSTEES' REPORT (CONTINUED)(INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 30 NOVEMBER 2025
- 2 -

The trustees' r eport was approved by the Board of Trustees.

P. A. Freely
Trustee
Dated: 13 July 2026
ST. ELISABETH FOUNDATION LIMITED
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF ST. ELISABETH FOUNDATION LIMITED
- 3 -

I report to the trustees on my examination of the financial statements of St. Elisabeth Foundation Limited (the charity) for the year ended 30 November 2025.

Responsibilities and basis of report

As the trustees of the charity (and also its directors for the purposes of company law), you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006.

Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.

Independent examiner's statement

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 that in any material respect:

1

accounting records were not kept in respect of the charity as required by section 386 of the Companies Act 2006.

2

the financial statements do not accord with those records; or

3

the financial statements do not comply with the accounting requirements of section 396 of the Companies Act 2006 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination; or

4

the financial statements 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 financial statements 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 financial statements to be reached.

HB Accountants
28 Plumpton House
Plumpton Road
Hoddesdon
Hertfordshire
EN11 0LB
16 July 2026
ST. ELISABETH FOUNDATION LIMITED
STATEMENT OF FINANCIAL ACTIVITIES
(INCLUDING INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 30 NOVEMBER 2025
- 4 -
Unrestricted
Unrestricted
funds
funds
2025
2024
Notes
£
£
Income from:
Investments
3
22,306
25,009
Total income
22,306
25,009
Expenditure on:
Raising funds
4
11,202
9,951
Charitable activities
5
10,901
7,687
Total expenditure
22,103
17,638
Net gains on investments
11
94,049
107,843
Net income and movement in funds
94,252
115,214
Reconciliation of funds:
Fund balances at 1 December 2024
777,849
662,635
Fund balances at 30 November 2025
872,101
777,849

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

ST. ELISABETH FOUNDATION LIMITED
BALANCE SHEET
AS AT
30 NOVEMBER 2025
30 November 2025
- 5 -
2025
2024
Notes
£
£
£
£
Fixed assets
Investments
12
854,193
772,565
Current assets
Cash at bank and in hand
18,988
6,364
Creditors: amounts falling due within one year
13
(1,080)
(1,080)
Net current assets
17,908
5,284
Total assets less current liabilities
872,101
777,849
The funds of the charity
Unrestricted funds
872,101
777,849
872,101
777,849

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 30 November 2025.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the trustees on 13 July 2026
P. A. Freely
Trustee
ST. ELISABETH FOUNDATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2025
- 6 -
1
Accounting policies
Charity information

St. Elisabeth Foundation Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Egerton, Mount Park Road, Harrow on the Hill, Middlesex, HA1 3JS.

1.1
Accounting convention

The accounts have been prepared in accordance with the charity's trust deed, the Companies Act 2006 and “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)” (as amended for accounting periods commencing from 1 January 2016). The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary a mounts in these financial statements are rounded to the nearest £.

The accounts have been prepared under the historical cost convention, modified to include the revaluation of investments. The principle accounting policies are set out below.

1.2
Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
1.4
Incoming resources
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

1.5
Resources expended

Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources.

1.6
Fixed asset investments

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.

ST. ELISABETH FOUNDATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2025
1
Accounting policies (continued)
- 7 -
1.7
Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future p aymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

2
Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Income from investments
Unrestricted
Unrestricted
funds
funds
2025
2024
£
£
Income from listed investments
22,282
25,009
Interest receivable
24
-
22,306
25,009
ST. ELISABETH FOUNDATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2025
- 8 -
4

R aising funds

Unrestricted
Unrestricted
funds
funds
2025
2024
£
£
Investment management
11,202
9,951
11,202
9,951
5
Charitable activities
2025
2024
£
£
Direct costs
Grant funding of activities (see note 6)
9,750
6,500
Share of support and governance costs (see note 7)
Support
41
77
Governance
1,110
1,110
10,901
7,687
Analysis by fund
Unrestricted funds
10,901
7,687
6
Grants payable
2025
2024
£
£
Grants to institutions:
Mustard Seed Autism Trust
1,500
1,000
Old Alone UK
750
-
The Catenian Association Benevolent & Children's Fund
-
1,000
Mary's Meals
1,500
1,000
The Catenian Association Bursary Fund
-
500
The Right To Life Charitable Trust
1,500
-
Guild of Our Lady of Good Counsel
1,500
-
Sam Beare Hospice
1,500
-
Order of the Holy Sepulchre of Jerusalem
1,500
2,000
The Willow Foundation
-
1,000
9,750
6,500
ST. ELISABETH FOUNDATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2025
- 9 -
7
Support costs
Support costs
Governance costs
2025
Support costs
Governance costs
2024
£
£
£
£
£
£
Bank charges
7
-
7
64
-
64
Sundry expenses
34
-
34
13
-
13

Accountancy

-
1,110
1,110
-
1,110
1,110
41
1,110
1,151
77
1,110
1,187
Analysed between
Charitable activities
41
1,110
1,151
77
1,110
1,187
8
Net movement in funds
2025
2024
£
£
The net movement in funds is stated after charging/(crediting):
Fees payable for the independent examination of the charity's financial statements
-
-
9
Trustees
None of the trustees (or any persons connected with them) received any remuneration or were reimbursed for any expenses during the year.
10
Employees

The average monthly number of employees during the year was:

2025
2024
Number
Number
Total
0
0
There were no employees whose annual remuneration was more than £60,000.
11
Net gains/(losses) on investments
Unrestricted
Unrestricted
funds
funds
2025
2024
£
£
Revaluation of investments
98,329
15,132
Gain/(loss) on sale of investments
(4,280)
92,711
94,049
107,843
ST. ELISABETH FOUNDATION LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2025
- 10 -
12
Fixed asset investments
Listed investments
Cash in portfolio
Total
£
£
£
Cost or valuation
At 1 December 2024
765,475
7,090
772,565
Additions
76,550
-
76,550
Valuation changes
98,329
-
98,329
Disposals
(95,740)
-
(95,740)
At 30 November 2025
844,614
7,090
851,704
Carrying amount
At 30 November 2025
844,614
7,090
851,704
At 30 November 2024
765,475
7,090
772,565
Fixed asset investments revalued

The historical cost of the fixed asset investments at the year end was £566,518 (202 4: £602,325).

13
Creditors: amounts falling due within one year
2025
2024
£
£
Accruals and deferred income
1,080
1,080
14
Related party transactions

There were no disclosable related party transactions during the year (2024 - none).

2025-11-30 2024-12-01 false false false CCH Software iXBRL Review & Tag 2025.2 01526048 2024-12-01 2025-11-30 01526048 bus:Director1 2024-12-01 2025-11-30 01526048 bus:CompanySecretary1 2024-12-01 2025-11-30 01526048 bus:Director2 2024-12-01 2025-11-30 01526048 2025-11-30 01526048 2024-11-30 01526048 2023-12-01 2024-11-30 01526048 bus:FRS102 2024-12-01 2025-11-30 01526048 char:IndependentExaminationCharity 2024-12-01 2025-11-30 01526048 bus:FullAccounts 2024-12-01 2025-11-30 xbrli:pure xbrli:shares iso4217:GBP