OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2023-04-05-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 2023

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 (Secretary) Dr J Kolendo Mrs M A Rejman 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 2023

The Trustees present their report and accounts for the year ended 5 April 2023.

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 (Secretary) Dr J Kolendo Mrs M A Rejman (Appointed 29 November 2022)

New Trustees are nominated at Annual Meetings and are eligible for re-election 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 £33,063 (2022 £27,649), comprising UK and foreign dividends and distributions. Investments sold totalled £59,954 (2022 £183,958) including realised gains of £32,682 (2022 £32,682). New investments totalled £101,802 (2022 £181,481).

Financial review

Net expenditure on investments, fees and governance amounted to £17,524 (2022 Net receipts £21,121) for the year ended 5 April 2023. At the balance sheet date the cash balance amounted to £21,272 (2022 £38,312).

When incorporating the investments held at cost of £970,241 (2022 £925,598) the net assets of the Trust amounted to £991,219 (2022 £964,100) as at 5 April 2023.

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 2023

On behalf of the board of Trustees

Mr J W Ledochowski (Chairman) Trustee Dated: 17 January 2024

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 to charities in England and Wales requires the Trustees to 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:

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 January 2024

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

FOR THE YEAR ENDED 5 APRIL 2023

Unrestricted
funds
£
Receipts
Dividends
25,975
UK Property Income Distributions
3,496
Foreign Dividends
3,592
Realised gains on the sale of investments
2,796
Sale of Investments
57,158
Total receipts
93,017
Payments
Purchase of Investments
101,802
Investment management fees
8,019
Governance costs
720
Total payments
110,541
Net receipts / (expenditure)
(17,524)
Cash fund balances at 6 April 2022
38,502
Cash fund balances at 5 April 2023
20,978		 Total
2023
£
25,975
3,496
3,592
2,796
57,158
93,017
101,802
8,019
720
110,541
(17,524)
38,502
20,978		 Total
2022
£
22,619
3,029
2,001
32,682
151,276
211,607
181,481
8,285
720
190,486
21,121
17,381
38,502

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

AS AT 5 APRIL 2023

Notes
Cash at bank
Accrued Income
Balance at Charles Stanley
Cash at bank and in hand
Creditors: amounts falling due within
one year
3
Total cash at bank
Income funds
Unrestricted funds
Investment Assets at Cost
Investment Assets at Cost
4
Net assets		 2023
£
426
20,140
1,132
21,698
(720)		 £
20,978
20,978
20,978
970,241
991,219		 2022
£
910
36,463
1,849
39,222
(720)		 £
38,502
38,502
38,502
925,598
964,100

The accounts were approved by the Trustees on 17 January 2024

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 2023

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 2023 2022
£ £
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 2023

4 Schedule of investments

UK Equities
Bloomsbury Publishing
Britvic
Carr
Croda International
CT Automotive
Discoverie Group plc
Electrocomponents
Euromoney
Fisher (James) & Son
Glaxo
Hill & Smith
HSBC US$ 0.50
ITV
Kin and Carta Plc
Lords Group Trading plc
Macfarlane Group
Marstons
John Menzies
Natwest
Pets at Home
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
Linde plc
Roche Holdings
Siemens (REGD)		 2023
£
6,603
8,752
11,122
14,543
15,175
5,930
3,976
-
12,140
14,704
3,383
15,288
12,168
10,074
11,431
11,190
9,969
-
12,513
13,511
11,372
11,965
11,631
-
18,687
13,465
15,583
14,745
4,219
15,538
20,462
12,872
19,736
15,933
14,683
6,723
3,528
403,614
15,259
13,974
7,608
36,841		 2022
£
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
400,996
15,259
-
7,608
22,867

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

FOR THE YEAR ENDED 5 APRIL 2023

4
Schedule of investments
North Amercia Equities
Alphabet Inc
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
Rathbone
High Yield
Wellington GBL High yield
Global / Strategic
AXA Fund Managers
Legal & General
Japan
Nippon Active Value Fund
Global Equities
AVI Global
Schroder Unit Trusts
T Bailey Fund Services		 12,777
9,768
-
10,167
5,628
38,340
4,171
4,171
27,474
27,474
21,887
29,525
25,877
77,289
15,000
15,000
-
36,788
36,788
14,980
14,980
19,365
20,000
28,339
67,704		 (Continued)
-
9,768
14,546
10,167
5,628
40,109
4,171
4,171
27,474
27,474
21,887
29,525
25,877
77,289
15,000
15,000
-
36,788
36,788
-
-
19,365
20,000
28,339
67,704

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

FOR THE YEAR ENDED 5 APRIL 2023

4
Schedule of investments
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
HG Caoital Trust
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
-
-
27,466
14,719
28,052
14,664
14,969
16,607
15,136
21,745
22,797		 71,885
70,237
46,240
36,881
22,797
970,241		 (Continued)
9,983
22,080
25,466
14,356
71,885
-
-
27,466
14,719
27,876
70,061
-
14,969
16,607
31,576
15,136
21,745
36,881
22,797
22,797
925,598		 (Continued)
9,983
22,080
25,466
14,356
71,885
-
-
27,466
14,719
27,876
70,061
-
14,969
16,607
31,576
15,136
21,745
36,881
22,797
22,797
925,598
925,598

The market value of investments at 5th April 2023 was £963,872 (2022: £1,022,858).

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