THE ST ANDREW'S CHURCH HALL CHARITABLE TRUST THE ST ANDREW'S CHURCH HALL CHARITABLE TRUST Reglstered Ch3EIty No. 1016183 TRUSTEES ANNUAL REPORT BALANCE SHEET AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5TH APRIL 2022 **THE ST ANDREW'S CHURCH HALL CHARITABLE TRUST** ## **ANNUAL REPORT FOR THE YEAR ENDED 5TH APRIL 2022** ## **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 2021 until the date of this report were: Trustees: Appointed by: 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 £350 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 increase in total incoming resources to £52,356 for this year (2021: £50,680) because of a rise in the dividends payable on all of the investments and despite a fall in interest income. The income arising during the year (excluding deposit account interest) represents a return on capital of 2.98% (2021 - 3.17%). The Trustees have agreed donations of £26,003 to each church, distributing the total accumulated reserves on unrestricted funds. The payment of these donations and of the administration charge of £350 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. 2 THE ST ANDREW'S CHURCH HALL CHARITABLE TRUST ANNUAL REPORT CONTINUED FOR THE YEAR ENDED 5TH APRIL 2022 5. FINANCIAL REVIEW 1nvestment StTategy.' ThÈ Investment pollcy of the Trustees is growth in income over the long term whilst maintaining tPte level of ¢apltal invested, subject to market fluctuations. The trustees have reviewed the financlal position of the charity in the light of the current Covid 19 crisis. Thè value of thè Investments contlnues to be subject to market fluctuations and the income recelved from the investments could be at rlsk. The trustees have agreed that the posltlon should be kept under revlew but no immediate changes should be made in the investments held. Reserves Policy.. The 'lncome Distribution clause in the Governlng Scheme does not allow for the accumulation of Income reserves. The accounts for the year to 5th April 2022 and the Balance Sheet at that date were approved by the Trustees at a meeting held on 14th lune 2022. 0_11 Chalr of Trustees THE ST ANDREWS CHURCH HALL CHARITABLE TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ST ANDREW'S CHURCH HALL CHARITABLE TRUST FOR THE YEAR ENDED 5TH APRIL2022 I report on the accounts of the charity for the year ended 5th April 2022, which are sel c>ut on page5 5 to 8. Respedlve responslbilitles of trustees and examiner Thè Charl￿S trustees are respcinsible for the preparatlon of the accounts. The charity's tru5tee5 consider that an audit is not requlred for thls year under section 144121 of the Charities Act 2011 (the 2011 Actl and that an independent examination is needed. It Is my responslbSllty to: examine the accounts under section 145 of the 2011 Act,. to follow the procedures lald down In the general Directions given by the Charitv Commissioner under sectltsn 14515llbl olthe 2011 Act- and to stste whether partltular matters have tome to my attentlon. Basls of Independent examlner's report My examin3tion was tarried out In accordance wlth the General Directlons glven by the Charlty Commissioner. An examination includes a review of the accountin£ records kept by the charity and a comparison of the accotsnts presented with those records. It also includes consideration of any unusual Items or dlscltrsures the accounts, and the seeking of explanations from you as trustees concerning any Such matters. The procedures undertaken do not provide all the eviden￿ that would be required in an audit and. consequently no opinion 15 glven as to whether the accounts present a 'true and fail view, and the report is Ilmited to those matters set out in the statement below. Independent examinerf5 Statement In connection with my examinatlon, no matter has come to my attention.. ill which gives rèasonable ouse to believe that, Sn any materlal respect, the requirement5'. to keep accountlng records in accordance with se.ction 130 of the 2011 Act,. and to prepaye atc(>unts whlch accord with the accounting records and to comply wlth the accounting requirements of the 2011 Act have not been met- or 121 to which, in my opinion,attentlon should be drawn in order to enable a proper understanding of the acetsunls to be reached. Kristianne Sharkey ACA 203 New Century House 8 Jude Street LcTrndon E16 IFG Date.. Z41iilioLI THE ST ANDREW'S CHURCH HALL CHARITABLE TRUST BALANCE SHEET AT 5TH APRIL 2022 2022 2021 FIXED ASSETS Investments INotÈ 41 1,756,017 1,593,794 CURRENT ASSETS Deposit Accounts Current Account 52,172 184 52,3S6 50,516 164 50,680 LESS LIABILITIES., AMOUNTS FALLING DUE WITHIN ONEVEAR charitable donatlons Administratlon 52,006 350 52,356 50,308 372 50,680 NET CuRRE￿r ASSETS NET ASSETS 1,756,017 1,593,794 FUNDS UnrestTlcted Fund (Note 51 Endowment Fund (Note 51 1.756.017 1,756,017 1,593,794 1.593,794 Approved by the Trustee5 on 14th June 2022 and slgned on Its behalf bv.. Chair of Trustees THE ST ANDREW'S CHURCH HALL CHARITABLE TRLIST STATEMENT OF FINANCIAL ACnVITIES FOR THE YEAR ENDED 5TH APRIL 2022 202Z Unrestrlcted Endowment Funds Funds 2021 Total Funds INCOME Inte¥e5t received- Deposit A¢¢ounts Investment Income.. COIF Charities Ethical Investment Income Share5 CBF Investment Income Share5 CBF Property Fund Shares 43 128 25,188 15,968 11,157 25,188 15,968 11,157 24,680 15,503 10,369 TOTAL INCOME 52,356 52,356 50,680 EXPENDITURE CharStable donations (Proposed) The PCC of St Stephen with St john, Westminster Sl Peler'5, Eaton Square- Repair and Miiiistry Fund 26,CQ3 26,(￿3 26,003 26,003 25,154 25,154 Adminlstration 350 350 372 TOTAL EXPENOITURE 52,356 52,356 50,680 NET INCOMEIEXPENDITURE BEFORE RECOGNISED GAINS AND LOSSES Net galnsllosses on Investment Assets Llnrealised gains Unrealised1055e5 162,223 162,223 246,269 NET MOVEMENT IN FUNDS 162,223 162.223 246,269 TOTAL FUNDS BROUGHT FORWARD 1,593,794 1,593,794 1,347,525 TOTAL FUNDS CARRIED FORWARD 1,756,017 1,756,017 1,593,794 **THE ST ANDREW'S CHURCH HALL CHARITABLE TRUST** ## **NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 5TH APRIL 2022** ## **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 £52,356 arising during the year was expended during the year (2021: £50,680). Net unrealised gains on the investments were £162,223 (2021: net unrealised gains £246,269). ## **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**| |---|---|---|---|---|---| ||||**2021**|**2022**|| |COIF Charities Ethical Investment|||||| |Fund Income shares|298,434|538,793|816,725|898,317|81,592| |CBF Church of England Investment|||||| |Fund Income shares|26,619|302,741|547,741|594,781|47,040| |CBF Church of England Property|||||| |Fund Income shares|171,383|195,188|229,328|262,919|33,591| ||||**1,593,794**|**1,756,017**|**162,223**| ## **5. ANALYSIS OF NET ASSETS BY FUNDS** |**5. ANALYSIS OF NET ASSETS BY FUNDS**||||| |---|---|---|---|---| ||Unrestricted|Endowment|Total|Total| ||Fund|Fund|2022|2021| |Fixed Assets||1,756,017|1,756,017|1,593,794| |Current Assets|52,356||52,356|50,680| |Current Liabilities|-52,356||-52,356|-50,680| |Fund Balance|**-**|**1,756,017**|**1,756,017**|**1,593,794**| 7 THE ST ANDREW'S CHURCH HALL CHARITABLE TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 5TH APRIL 2022 6, RELATED PARTY TRANSACTIONS The payment of thè don3tions at)d of the admlnistratlon charge of £350 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 Sq¢Jare. The donatlons and the admlnlstration charge are included as current liabilities In the accounts.