THE ST ANDREW'S CHURCH HALL CHARITABLE TRUST
THE ST ANDREW'S CHURCH HALL CHARITABLE TRUST
Registered Charity No. 1016183
TRUSTEES ANNUAL REPORT
BALANCE SHEET AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 5TH APRIL 2021
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THE ST ANDREW'S CHURCH HALL CHARITABLE TRUST
ANNUAL REPORT FOR THE YEAR ENDED 5TH APRIL 2021
1. ADMINISTRATIVE INFORMATION
The St Andrew's Church Hall Trust is a charity registered with the Charity Commission with number 1016183.
The principal address is St Stephen's House, Hide Place, London SW1P 4NJ.
The Trustees who have served from 6th April 2020 until the date of this report were:
Trustees: Appointed by: Dr Kevin Walsh (Chairman) (until 11th November 2020) PCC of St Stephen with St John, Westminster Mr James Gourlay PCC of St Peter's, Eaton Square Ms Janet Taylor PCC of St Stephen with St John, Westminster Mr Edward Barker (Chairman from 9th June 2021) PCC of St Stephen with St John, Westminster Rev Graham Buckle Ex Officio Trustee Ms Elizabeth Szewczyk (from 9th June 2021) PCC of St Stephen with St John, Westminster
2. STRUCTURE, GOVERNANCE AND MANAGEMENT
The Trust is governed by the provisions of a Charity Commission Scheme dated 18th September 1953 as amended by an Order dated 15th July 1988.
The Scheme provides for three Representative Trustees to be appointed by the PCC of St Stephen with St John, Westminster and for one Representative Trustee to be appointed by the PCC of St Peter's Eaton Square.
The administration of the Trust has been undertaken by the Bursar employed by the PCC of St Stephen with St John, Westminster. A cost of this administration of £372 has been charged to the Trust.
3. OBJECTIVES AND ACTIVITIES
The objectives of the Trust are to divide the clear income of the Trust in two halves and for it to be applied in furthering the religious and other charitable work of the Church of England in the parishes of: a) St Stephen with St John, Westminster,
b) St Peter's Pimlico with Christchurch, Westminster (known as St Peter's Eaton Square).
When planning the activities for the year, the Trustees have considered the Charity Commission’s guidance on public benefit and, in particular, the specific guidance on charities for the advancement of religion.
4. ACHIEVEMENTS AND PERFORMANCE
The accounts show an decrease in total incoming resources to £50,680 for this year ( 2020: £52,312) because of a fall in interest rates and a fall in the dividend payable on the investment in the CBF Church of England Property Fund. The income arising during the year (excluding deposit account interest) represents a return on capital of 3.17% (2020 - 3.86%).
The Trustees have agreed donations of £25,154 to each church, distributing the total accumulated reserves on unrestricted funds.
The payment of these donations and of the administration charge of £372 to the PCC of St Stephen with St John Westminster are related party transactions. The donations are made in accordance with the constitution. The payment of the administration charge has been agreed by the trustee representing St Peter's Eaton Square. The donations and the adminstration charge are included as liabilities in the accounts.
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THE ST ANDREW'S CHURCH HALL CHARITABLE TRUST
ANNUAL REPORT CONTINUED FOR THE YEAR ENDED 5TH APRIL 2021
5. FINANCIAL REVIEW
Investment Strategy: The investment policy of the Trustees is growth in income over the long term whilst maintaining the level of capital invested, subject to market fluctuations.
The trustees have reviewed the financial position of the charity in the light of the current Covid 19 crisis. The value of the investments continues to be subject to market fluctuations and the income received from the investments could be at risk. The trustees have agreed that the position should be kept under review but no immediate changes should be made in the investments held.
Reserves Policy: The "Income Distribution" clause in the Governing Scheme does not allow for the accumulation of Income reserves.
The accounts for the year to 5th April 2021 and the Balance Sheet at that date were approved by the Trustees at a meeting held on 9th June 2021.
Fiona Burdett-Coutts
Chair of Trustees
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THE ST ANDREW'S CHURCH HALL CHARITABLE TRUST
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ST ANDREW'S CHURCH HALL CHARITABLE TRUST FOR THE YEAR ENDED 5TH APRIL 2021
I report on the accounts of the charity for the year ended 5th April 2021, which are set out on pages 5 to 8.
Respective responsibilities of trustees and examiner
The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. It is my responsibility to:
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examine the accounts under section 145 of the 2011 Act;
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to follow the procedures laid down in the general Directions given by the Charity Commissioner under section 145(5)(b) of the 2011 Act; and
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to state whether particular matters have come to my attention.
Basis of independent examiner’s report
My examination was carried out in accordance with the General Directions given by the Charity Commissioner. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and the seeking of explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and, consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.
Independent examiner’s statement
In connection with my examination, no matter has come to my attention:
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(1) which gives me reasonable cause to believe that, in any material respect, the requirements:
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to keep accounting records in accordance with section 130 of the 2011 Act; and
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- to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the 2011 Act have not been met; or
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(2) to which, in my opinion,attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Kristianne Sharkey ACA 203 New Century House 8 Jude Street London E16 1FG
Date: 13th January 2022
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THE ST ANDREW'S CHURCH HALL CHARITABLE TRUST
BALANCE SHEET AT 5TH APRIL 2021
| 2021 | 2020 | |||
|---|---|---|---|---|
| £ | £ | £ | £ | |
| FIXED ASSETS | ||||
| Investments (Note 4) | 1,593,794 | 1,347,525 | ||
| CURRENT ASSETS | ||||
| Deposit Accounts | 50,516 | 52,136 | ||
| Current Account | 164 | 176 | ||
| 50,680 | 52,312 | |||
| LESS LIABILITIES: AMOUNTS FALLING DUE | ||||
| WITHIN ONE YEAR | ||||
| Charitable donations | 50,308 | 51,962 | ||
| Administration | 372 | 350 | ||
| 50,680 | 52,312 | |||
| NET CURRENT ASSETS | - | - | ||
| NET ASSETS | 1,593,794 | 1,347,525 | ||
| FUNDS | ||||
| Unrestricted Fund (Note 5) | - | - | ||
| Endowment Fund (Note 5) | 1,593,794 | 1,347,525 | ||
| 1,593,794 | 1,347,525 | |||
| Approved by the Trustees on 9th June 2021 and signed on its behalf by: | ||||
| Fiona Burdett-Coutts | ||||
| Chair of Trustees |
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THE ST ANDREW'S CHURCH HALL CHARITABLE TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5TH APRIL 2021
| 2021 | 2020 | |||
|---|---|---|---|---|
| Unrestricted | Endowment | Total | ||
| Funds | Funds | Funds | ||
| £ | £ | £ | £ | |
| INCOME | ||||
| Interest received - Deposit Accounts | 128 | 128 | 325 | |
| Investment Income: | ||||
| COIF Charities Ethical Investment Income Shares | 24,680 | 24,680 | 24,203 | |
| CBF Investment Income Shares | 15,503 | 15,503 | 15,050 | |
| CBF Property Fund Shares | 10,369 | 10,369 | 12,734 | |
| TOTAL INCOME | 50,680 | 50,680 | 52,312 | |
| EXPENDITURE | ||||
| Charitable donations (Proposed) | ||||
| The PCC of St Stephen with St John, Westminster | 25,154 | 25,154 | 25,981 | |
| St Peter's, Eaton Square - Repair and Ministry Fund | 25,154 | 25,154 | 25,981 | |
| Administration | 372 | 372 | 350 | |
| TOTAL EXPENDITURE | 50,680 | 50,680 | 52,312 | |
| NET INCOME/EXPENDITURE BEFORE | ||||
| RECOGNISED GAINS AND LOSSES | - | - | - | |
| Net gains/losses on Investment Assets | ||||
| Unrealised gains | 246,269 | 246,269 | -54,143 | |
| Unrealised losses | ||||
| NET MOVEMENT IN FUNDS | 246,269 | 246,269 | -54,143 | |
| TOTAL FUNDS BROUGHT FORWARD | 1,347,525 | 1,347,525 | 1,401,668 | |
| TOTAL FUNDS CARRIED FORWARD | 1,593,794 | 1,593,794 | 1,347,525 |
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THE ST ANDREW'S CHURCH HALL CHARITABLE TRUST
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 5TH APRIL 2021
1. BASIS OF ACCOUNTING
The accounts have been prepared in accordance with Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with FRS 102 and with the Charities Act 2011. The accounts have been prepared under the historical cost convention, except for the revaluation of investments. St Andrews Church Hall Charitable Trust is a public benefit entity within the meaning of FRS102.
2. ACCOUNTING POLICIES
Income
Income is included in the Statement of Financial Activities (SoFA) when the charity becomes entitled to the income; the trustees are virtually certain they will receive the income; and the monetary value can be measured with sufficient reliability. Investment income is included in the accounts when receivable. Investment gains and losses include any gain or loss on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year.
Expenditure and Liabilities
Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources. Administration costs include the cost of the preparation and examination of the statutory accounts, the cost of trustee meetings and the cost of any legal advice to trustees on goverance and constitutional matters.
Assets
Investments are valued at market value at the year end.
3. INCOME FROM THE YEAR
The total income of £50,680 arising during the year was expended during the year (2020: £52,312). Net unrealised gains on the investments were £246,269 (2020: net unrealised losses £54,143).
4. INVESTMENTS
Investments are shown at their market value: realised and unrealised gains and losses are recognised in the Statement of Financial Activities.
| Number | Cost | **Market Value ** | Market Value | Gain/Loss | |
|---|---|---|---|---|---|
| 2020 | 2021 | ||||
| COIF Charities Ethical Investment | |||||
| Fund Income shares | 298,434 | 538,793 | 659,480 | 816,725 | 157,245 |
| CBF Church of England Investment | |||||
| Fund Income shares | 26,619 | 302,741 | 453,782 | 547,741 | 93,959 |
| CBF Church of England Property | |||||
| Fund Income shares | 171,383 | 195,188 | 234,263 | 229,328 | -4,935 |
| 1,347,525 | 1,593,794 | 246,269 |
5. ANALYSIS OF NET ASSETS BY FUNDS
| 5. ANALYSIS OF NET ASSETS BY FUNDS | ||||
|---|---|---|---|---|
| Unrestricted | Endowment | Total | Total | |
| Fund | Fund | 2021 | 2020 | |
| Fixed Assets | 1,593,794 | 1,593,794 | 1,347,525 | |
| Current Assets | 50,680 | 50,680 | 52,312 | |
| Current Liabilities | -50,680 | -50,680 | -52,312 | |
| Fund Balance | - | 1,593,794 | 1,593,794 | 1,347,525 |
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THE ST ANDREW'S CHURCH HALL CHARITABLE TRUST
NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 5TH APRIL 2021
6. RELATED PARTY TRANSACTIONS
The payment of the donations and of the administration charge of £372 to the PCC of St Stephen with St John Westminster are related party transactions. The donations are made in accordance with the constitution. The payment of the administration charge has been agreed by the trustee appointed by St Peter's Eaton Square. The donations and the administration charge are included as current liabilities in the accounts.
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