**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. - 1 - **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 - 2 - ## **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. - 3 - **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: - accounting records were not kept in accordance with section 130 of the Act or - the accounts to do accord with the accounting records 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 - 4 - **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| - 5 - ## **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** - 6 - ## **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| - 7 - **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| - 8 - **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| - 9 - **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. - 10 -