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2024-04-05-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 2024

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 2024

The Trustees present their report and accounts for the year ended 5 April 2024.

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 is governed by a declaration of trust made on 19th January 1996 and 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

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 £34,349 (2023 £33,063), comprising UK and foreign dividends and distributions. Investments sold totalled £88,113 (2023 £59,954) including realised losses of £26,664 (2023 gains of £2,796). New investments totalled £79,420 (2023 £101,802).

Financial review

Net expenditure on investments, fees and governance and grants paid in the year amounted to £5,537 (2023 Net expenditure £17,524) for the year ended 5 April 2024. At the balance sheet date the cash balance amounted to £15,441 (2023 £20,978).

When incorporating the investments held at cost of £935,241 (2023 £970,241) the net assets of the Trust amounted to £950,682 (2023 £991,219) as at 5 April 2024.

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 2024

On behalf of the board of Trustees

Mr J W Ledochowski (Chairman) Trustee Dated: 22 November 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 2024.

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 BA (Hons) ACA

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

Dated: 22 November 2024

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

FOR THE YEAR ENDED 5 APRIL 2024

Unrestricted
funds
£
Receipts
Dividends
26,668
UK Property Income Distributions
3,820
Foreign Dividends
3,861
Sale of Investments
88,113
Total receipts
122,462
Payments
Purchase of Investments
79,420
Grants paid
39,996
Investment management fees
7,778
Governance costs
806
Total payments
127,999
Net receipts / (expenditure)
(5,537)
Cash fund balances at 6 April 2023
20,978
Cash fund balances at 5 April 2024
15,441		 Total
2024
£
26,668
3,820
3,861
88,113
122,462
79,420
39,996
7,778
806
127,999
(5,537)
20,978
15,441		 Total
2023
£
25,975
3,496
3,592
59,954
93,017
101,802
-
8,020
719
110,541
(17,524)
38,502
20,978

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

AS AT 5 APRIL 2024

Notes
Cash at bank
Accrued Income
Balance at Charles Stanley
Cash at bank and in hand
Creditors: amounts falling due within
one year
4
Total cash at bank
Income funds
Unrestricted funds
Investment Assets at Cost
Investment Assets at Cost
5
Net assets		 2024
£
574
5,181
10,406
16,161
(720)		 £
15,441
15,441
15,441
935,241
950,682		 2023
£
426
20,140
1,132
21,698
(720)		 £
20,978
20,978
20,978
970,241
991,219

The accounts were approved by the Trustees on 22 November 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 2024

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 Grants payable

Grants payable
2024 2023
£ £
Grants to institutions:
Polish Roman Catholic Church of St John the Evangelist 39,996

During the year the above grant was paid to the Church to contribute towards repair works.

3 Employees

There were no employees during the year.

4 Creditors: amounts falling due within one year 2024 2023
£ £
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 2024

5 Schedule of investments

UK Equities
Bloomsbury Publishing
Britvic
Carr
Croda International
CT Automotive
Discoverie Group plc
Electrocomponents
Fisher (James) & Son
Genuit Group PLC
Glaxo
Hill & Smith
HSBC US
ITV
Kin and Carta Plc
Legal & General Group
Lords Group Trading plc
Macfarlane Group
Marstons
Natwest
Pets at Home
Prudential
Ricardo
Rio Tinto
Smiths
Speedy Hire
Smith and Nephew
Stellard Group
Standard Life
Strix Group
Superdry
Synthomer Plc
TT Electronics
Unilever
Vodafone US
Volution
Wilmington Plc
3i Group
Europe (excluding UK)
Equities
Linde plc
Roche Holdings
Siemens (REGD)		 2024
£
5,282
8,752
11,122
21,715
15,175
5,930
3,976
12,140
8,338
14,704
3,383
15,288
-
-
9,793
11,431
11,190
9,969
12,513
13,511
11,372
11,965
11,631
18,687
13,465
15,583
14,745
-
15,538
-
15,153
19,736
15,933
-
6,723
13,864
1,764
380,374
11,444
19,418
7,608
38,471		 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

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

FOR THE YEAR ENDED 5 APRIL 2024

5
Schedule of investments
North America Equities
Alphabet Inc
Canadian General
Investments
General Electric US
Intel Corp com
Johnson & Johnson
Global & Private Equities
Scottish Mortgage
UK Conventional Gilts
BDS
UK Government Bonds
2.5% IND-LKD Gilt
Corporate Bonds
Bruntwood Investments
Lendinvest
Rathbone
High Yield
Wellington GBL
Global/Strategic
Legal & General
Japan
Nippon Active Value Fund
Global Equities
AVI Global
Schroder Unit Trusts
T Bailey Fund Services
Property Investments
Impact Healthcare REIT plc
Schroder Real Estate Trust
Supermarket Income		 12,777
9,683
-
10,167
5,627
38,254
4,171
4,171
24,593
24,593
24,040
24,040
21,887
29,525
25,877
77,289
15,000
15,000
36,788
36,788
14,980
14,980
14,345
20,000
28,339
62,683
9,983
22,079
25,466		 (Continued)
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
9,983
22,080
25,466

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

FOR THE YEAR ENDED 5 APRIL 2024

5
Schedule of investments
Workspace
Alternatives - Hedge
Funds/Absolute Returns
J P Morgan
RIT Capital Partners
Premier Portfolio Managers
Private Equity
HG Caoital Trust
Hipgnosis Songs Fund Ltd
Oakley Capital Investments
Ltd
Infrastructure & Renewable
Energy
Atrato Onsite Energy plc
HICL Infrastructure
Mixed Investment Funds
Valu-trac Investment
Management		 14,356
27,466
14,719
28,632
-
14,664
16,607
22,880
21,746
-		 71,884
70,817
31,272
44,626
-
935,241		 (Continued)
14,356
71,885
27,466
14,719
28,052
70,237
14,664
14,969
16,607
46,240
15,136
21,745
36,881
22,797
22,797
970,241		 (Continued)
14,356
71,885
27,466
14,719
28,052
70,237
14,664
14,969
16,607
46,240
15,136
21,745
36,881
22,797
22,797
970,241
970,241

The market value of investments at 5th April 2024 was £984,241 (2023: £963,872).

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