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2022-04-05-accounts

Charity Registration No. 1052835

ST JOHN'S THE EVANGELIST ROMAN

CATHOLIC POLISH CHURCH PRESERVATION TRUST

TRUSTEES REPORT AND UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 5 APRIL 2022

ST JOHN'S THE EVANGELIST ROMAN CATHOLIC POLISH CHURCH PRESERVATION TRUST LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mr J W Ledochowski (Chairman)
Mrs M Lasocka (Treasurer)
Mr J Adach
Dr J Kolendo
Charity number 1052835
Principal address St John's Hall
Ravenna Road
London
SW15 6AW
Independent examiner Kendall Wadley LLP
Granta Lodge
71 Graham Road
Malvern
Worcestershire
WR14 2JS
Investment Advisors Charles Stanley & Co. Limited
55 Bishopgate
London
EC2N 3AS

ST JOHN'S THE EVANGELIST ROMAN CATHOLIC POLISH CHURCH PRESERVATION TRUST CONTENTS

Page
Trustees report 1 - 2
Statement of Trustees responsibilities 3
Independent examiner's report 4
Receipts and payments account 5
Statement of assets and liabilities 6
Notes to the accounts 7 - 10

ST JOHN'S THE EVANGELIST ROMAN CATHOLIC POLISH CHURCH PRESERVATION TRUST TRUSTEES REPORT

FOR THE YEAR ENDED 5 APRIL 2022

The Trustees present their report and accounts for the year ended 5 April 2022.

The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the Trust's constitution, and comply with the aims of the Trust and applicable law.

Structure, governance and management

The Trust was established in 1987 and is governed by a declaration of trust made on 19th January 1996. It was registered with the Charity Commission on 13th February 1996. The objective of the Trust is to establish a charitable fund for the purpose of funding the repair and maintenance of the fabric of the church building and also for the purposes of providing a stipend for the priest for the time being officiating at the church.

The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

The Trustees have compiled with their duty as required by the Charities Act 2011 to have due regard to the guidance issued by the Charity Commission concerning public benefit requirement.

The Trustees who served during the year were:
Mr J W Ledochowski (Chairman)
Mrs M Lasocka (Treasurer)
Mr J Adach
Dr J Kolendo
The Rev E Sopala S Chr (Resigned 1 March 2022)

New Trustees are nominated by the Management Committee and Trustees at the AGM, and are eligible for reelection annually.

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

Objectives and activities

The Trust's objects are to establish a charitable fund for the purpose of funding the repair and maintenance of the fabric of the church building and for the purposes of providing a stipend for the priest for the time being officiating at the church if the parish does not itself have sufficient funds for these purposes.

Achievements and performance

The investment portfolio of the Trust generated a total income of £27,649 (2021 £20,833), comprising UK and foreign dividends and distributions. Investments sold totalled £183,958 (2021 £93,207) including realised gains of £32,682 (2021 £25,953). New investments totalled £181,481 (2021 £102,948).

Financial review

The net receipts of the Trust amounted to £21,121 (2021 £2,621) for the year ended 5 April 2022. At the balance sheet date the cash balance amounted to £38,502 (2021 £17,381).

When incorporating the investments held at cost of £925,598 (2021 £895,393) the net assets of the Trust amounted to £964,100 (2021 £912,774) as at 5 April 2022.

The above has been achieved with assistance of our Stockbrokers, Charles Stanley and Company Limited, who are to be thanked for their diligence in directing our investment portfolio.

The Trustees actively review the major risks which the charity faces on a regular basis and believe that maintaining the free reserves at current levels, combined with the charity's annual review of the controls over key financial systems, will provide sufficient resources in the event of adverse conditions.

ST JOHN'S THE EVANGELIST ROMAN CATHOLIC POLISH CHURCH PRESERVATION TRUST TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 5 APRIL 2022

On behalf of the board of Trustees

Mr J W Ledochowski (Chairman) Trustee Dated: 17 October 2022

ST JOHN'S THE EVANGELIST ROMAN CATHOLIC POLISH CHURCH PRESERVATION TRUST STATEMENT OF TRUSTEES RESPONSIBILITIES

The Trustees are responsible for preparing the Trustees Report and the accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable The law applicable to charities in England to charities in England and Wales requires the Trustees to and Wales requires the Trustees to and Wales requires the Trustees to prepare accounts for each financial prepare accounts for each financial
year which give a true and fair view of the state of affairs of the Trust and of the incoming resources and
application of resources of the Trust for
that
year.
In
preparing
these
accounts,		 the Trustees are
required
to:
-
select		 suitable accounting
policies
and		 then apply them
consistently;
-
observe		 the methods and principles
in		 the Charities
SORP;
-
make		 judgements
and		 estimates
that		 are reasonable
and
prudent;
- state whether applicable accounting standards have been followed, subject to any material departures
disclosed and explained in the accounts;
and
- prepare the accounts on the going concern basis unless it is inappropriate to presume that the charity will
continue in operation.

The Trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the Trust and enable them to ensure that the accounts comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

ST JOHN'S THE EVANGELIST ROMAN CATHOLIC POLISH CHURCH PRESERVATION TRUST INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF ST JOHN'S THE EVANGELIST ROMAN

I report to the Trustees on my examination of the financial statements of St John's The Evangelist Roman Catholic Polish Church Preservation Trust (the charity) or the year ended 5 April 2022.

Respective responsibilities of Trustees and examiner

As the charity's Trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ("the Act"). The charity's Trustees consider that an audit is not required for this year under section 144 of the 2011 Act and that an independent examination is needed.

I report in respect of my examination of the charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination. I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Basis of independent examiner's report

My examination was carried out in accordance with the general Directions given by the Charity Commission. 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 seeking 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

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe in, any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Sarah Morley ACA

Kendall Wadley LLP Granta Lodge 71 Graham Road Malvern Worcestershire WR14 2JS

Dated: 17 October 2022

ST JOHN'S THE EVANGELIST ROMAN CATHOLIC POLISH CHURCH PRESERVATION TRUST RECEIPTS AND PAYMENTS ACCOUNT

FOR THE YEAR ENDED 5 APRIL 2022

Unrestricted
funds
£		 Unrestricted
funds
£		 Total Total
funds 2022 2021
£ £ £
Receipts
Dividends
UK Property Income Distributions
Foreign Dividends
Realised gains on the sale of investments
Sale of Investments		 22,619 22,619 16,776
3,029 3,029 2,454
2,001 2,001 1,603
32,682 32,682 25,953
151,276 151,276 67,254
Total receipts 211,607 211,607 114,040
Payments
Purchase of Investments
181,481 181,481 102,948
Investment management fees 8,285 8,285 7,751
Governance costs 720 720 720
Total payments
190,486 190,486 111,419
Net receipts / (expenditure) 21,121 21,121 2,621
Cash fund balances at 6 April 2021
Cash fund balances at 5 April 2022
17,381 17,381 14,760
38,502 38,502 17,381

ST JOHN'S THE EVANGELIST ROMAN CATHOLIC POLISH CHURCH PRESERVATION TRUST STATEMENT OF ASSETS AND LIABILITIES

AS AT 5 APRIL 2022

Notes 2022 2021
£ £ £ £
Cash at bank
Accrued Income
Balance at Charles Stanley		 910
36,463
1,849
39,222
(720)		 38,502 1,404
16,131
566
18,101
(720)
Cash at bank and in hand
Creditors: amounts falling due within
one year
3
Total cash at bank
17,381
Income funds
38,502
38,502
Unrestricted funds 17,381
17,381
Investment Assets at Cost
Investment Assets at Cost
4		 925,598
964,100
895,393
Net assets 912,774

The accounts were approved by the Trustees on 17 October 2022

Mr J W Ledochowski (Chairman)

Trustee

ST JOHN'S THE EVANGELIST ROMAN CATHOLIC POLISH CHURCH PRESERVATION TRUST NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 5 APRIL 2022

1 Accounting policies

1.1 Basis of preparation

The accounts have been prepared on the receipts and payments basis in accordance with the Charity Commission guide (CC16).

1.2 Trustees' Remuneration and Expenses

No remuneration or expenses were paid or payable for the year to any trustee or any person or persons known to be connected with any of them.

1.3 Related Party Transactions

There were no related party transactions during the year.

2 Employees

There were no employees during the year.

3 Creditors: amounts falling due within one year 2022 2021
£ £
Accruals 720 720

ST JOHN'S THE EVANGELIST ROMAN CATHOLIC POLISH CHURCH PRESERVATION TRUST NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2022

4 Schedule of investments

2022
£		 2021
£
16,394
9,877
8,752
11,122
-
8,080
5,343
14,174
12,140
11,346
3,383
10,152
15,288
12,168
18,034
-
16,129
9,969
8,200
12,513
11,383
11,965
11,631
15,079
13,140
13,465
-
-
4,219
-
20,462
12,872
-
-
14,683
11,972
3,528
UK Equities
Balfour Beatty -
9,877
8,752
11,122
15,175
5,930
3,976
14,174
12,140
11,346
3,383
-
15,288
12,168
10,074
11,431
11,190
9,969
8,200
12,513
11,372
11,965
11,631
15,079
13,140
13,465
15,583
11,647
4,219
12,250
20,462
12,872
19,736
15,933
14,683
6,723
3,528
Bloomsbury Publishing
Britvic
Carr
CT Automotive
Discoverie Group plc
Electrocomponents
Euromoney
Fisher (James) & Son
Glaxo
Hill & Smith
Howden Joinery
HSBC US$ 0.50
ITV
Kin and Carta Plc
Lords Group Trading plc
Macfarlane Group
Marstons
John Menzies
Natwest
Prudential
Ricardo
Rio Tinto
RPS
Smiths
Speedy Hire
Smith and Nephew
Stellard Group
Standard Life
Strix Group
Superdry
Synthomer Plc
TT Electronics
Unilever
Vodafone US$ 0.210
Volution
3i Group
Europe (excluding UK) Equities 400,996
15,259
7,608		 347,463
15,259
7,608
Linde plc
Siemens (REGD)
22,867 22,867

ST JOHN'S THE EVANGELIST ROMAN CATHOLIC POLISH CHURCH PRESERVATION TRUST NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2022

4
Schedule of investments		 (Continued)
North Amercia Equities
Canadian General Investments
General Electric US$0.06
Intel Corp com
Johnson & Johnson US$1
Global and Private Equities
Scottish Mortgage
UK Government Bonds
2.5% IND-LKD Gilt 17/07/24
Corporate Bonds
Bruntwood Investments
Lendinvest
Premier Oil
Rathbone
High Yield
Wellington GBL High yield
Global / Strategic
AXA Fund Managers
Legal & General
Global Equities
AVI Global
Schroder Unit Trusts
T Bailey Fund Services		 9,768
14,546
10,167
5,628		 9,920
14,546
10,167
5,628
40,109
4,171		 40,261
4,171
4,171
27,474		 4,171
27,474
27,474
21,887
29,525
-
25,877		 27,474
21,887
29,525
21,502
25,877
77,289
15,000		 98,791
-
15,000
-
36,788		 -
31,798
36,788
36,788
19,365
20,000
28,339		 68,586
19,365
20,000
28,339
67,704 67,704

ST JOHN'S THE EVANGELIST ROMAN CATHOLIC POLISH CHURCH PRESERVATION TRUST NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2022

4
Schedule of investments		 (Continued) (Continued)
Property Investments
Impact Healthcare REIT plc
Schroder Real Estate Trust
Supermarket Income
Workspace
Alternatives - Hedge Funds / Absolute
Return
Aberdeen Standard
BNY Mellon Fund
J P Morgan
RIT Capital Partners
Premier Portfolio Managers
Private Equity
Hipgnosis Songs Fund Ltd
Oakley Capital Investments Ltd
Alternatives - Infastructure & Renewable
Energy
Atrato Onsite Energy plc
HICL Infrastructure
Mixed Investments Funds
Valu-trac Investment Management		 9,983
22,080
25,466
14,356		 -
22,080
25,466
14,356
-
-
27,466
14,719
27,876		 71,885 23,957
25,442
27,466
14,719
27,876		 61,902
14,969
16,607		 70,061 14,969
-		 119,460
15,136
21,745		 31,576 -
21,745		 14,969
22,797 36,881 - 21,745
22,797
925,598		 -
895,393

The market value of investments at 5th April 2022 was £1,022,858 (2021: £994,424).

The above Investments were managed by Charles Stanley and Company Limited, a member of the London Stock Exchange.