THE JAMES WILLIAM PEMBERTON TRUST FINANCIAL STATEMENTS FOR THE YLAR ENDED 31ST DECLMBER 2024 CONfENfs AND CHAIUTY INFORMATION CONTENTS,, PAGE: Trustggs, Report Independent Exarniner's Report Statement of Financial Activities Balance Sheet Notss to the Financial Staternellts TRUSTEES,. B Broolcman G Willcinson S Taylor J Mulvey Rev A Lythall (Chair) CHARtTY OFFICES: 35 Melmerby Wilnecote Tamwortb B77 4LP CHARtTY RBGISTRATION NUMBER.. 1060590 INDEPENDENT EXAMINER: lan W Shipley FCCA For and on bghalf of: Prentis & Co LLI) Chartered Ac¢ountants & Independent Ex¢uniners 115c Milton Road Cambridge CIJ4 IXE THE JAMES WILLIAM PEMBERTON TRUST PAGE I FINANCIAL STATEMENTS FOR TI4E YEAR ENDED I I ST DECEMBER 2024 TRUSTEES, REPORT The Trustees present their annual report and financia] statements of the charity for the Ye￿ ended 31 st December 2024. IThc financial statements have been prepared in accordance WAth the accounting policies set out in note I to the a¢counts and omply with tbe ch￿itIeS Act 201 l and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Slandard applicable in the UIC and Republic of Ireland (FRS 102) (¢ffectiv¢ I st January 2019). MANAGEMENf OF THE FOUNDATION The Trustees as a body manages the day to day aclivities of the Trust, making policy deci5i0ns and appointing Such professional assistance from time to time as requii'ed. TRUSTEES, OBJECTIVES The objectives of the Trust is to carry out works of benefii to the Parish Church of St Ecbtha, Tamworth, This includes furthering the religious and charitable objectiveg, and maintsnance of the churcb. The Trustees have ref¢￿ed to the guidance contaiiied in the Charity Commission general guidance on public benefit and continue t'o do so whell reviewing their fijture objectives. RESERVES POLICY The Trustegs have a policy of maintaining tlie Trust's capital to provide income for its charitable worlc. As such, it maffintELins investtnents alld property and the cotnbined value is hoped to be maintained at a value of approximately £300,000 to produce an appropriate level of income. However, by the very natur¢ of investtnents, challges in mayl<¢t value will mean ihe Trust may not match theAr resorves tsrget. During the year, tli¢ Trust received £10,360 in income (2023: £16,738) and expended £13,588 (2023.. £5,334), giving a deficit of £3,228 (2023: surplus of £11,404). Because of an increase in the valuation of the Trust's rcnlal properiies, and a gain on investmeiits held the total reserves increased ￿ £408,291. (2023., £392,214). RISIC ASSESSMENT Generdlly, the Trustees have considered the major rislcs fac¢d by the Trust and, after review and ¢valuation, have ensured that Systems are in place to manage these. REVIEW OF T14E YEAR, ACHtEVEMBNTS AND FUTUIIE DEVELOPMENTS INVESTMFNTS CHANGES During 2024, the Trustees resolved to transfer investtnents from Natwest banlc to CCJ.A. As a result , all existing Nalwest investment accounts were closed, and the total portfolio was wound up. Thc swn of£200,000 was siibsequently invested in CCLA, which is Ihe institution holding all oiher inveslmcnls for St Editha's Church, PROPERTY MANAGEMLN'f AT HbATH STIiEET Trustees also decided to take direct rosponsibility for inanaging two flats located at Heath Street. FollowRng the depthuro of a previous tenanl one flat was offeied to an Asylum Seelcer who was permilicd io .%lay rent-free until ihey sccui'ed the necessary Ilome Office documentation to work in the UK. Upon receipt of Ihese papeTS, i'egular rent payments commenced. At preseiit, botb Heath Sti'eet flats are under the managern¢nt of the Trustees. CONCLUSION These actions reflect the Trustees, cornmitinent to prudent fxnancial stcwardship and effective Mal￿geMent of church r¢sources,ensurillg continued suppori for both investment growth and cornmunity initiatives iii lllie with the guidelines laid down in the Deeds. KEY MANAGEMENT AND PERSONNEL RE1w￿RATIoN 'rhe Trust employs no staff and ¢onsidcrs the Board olTru8teos to be its key management. All 'lrustees give their time freely and no remuneration was paid duriiig the year. 'HE JAMES WILLIAM PEMBERTON TRUS'r PAGE 2 FINANCIAL STATEMENTS FOR THE YEAR ENDED 3 1ST DECEMBER 2024 TRUSTEBS, REPORT..,....COFtrINUED STATEMENT OF TRUSTEES, RESPONSIBLLITIES Law appli¢able to charities in England and Wales requiies the Tiustees to pr¢par¢ fillancial statetnents for e&ch fmancial year which give a true and fair view of tbe incoming resources and application of the resources of the Trust during the year and of its state of affaixs at the end of the year. In prep￿-ing financial statern¢ryts Eiving a true and fair view, the Trustees should folLow best practice ELnd in preparing those fmallcial statements the Trustees ar¢ required to,. (i) Select suitable &ccoullting policies and then apply d]em ¢on5iSt¢ntly. (li) Observe the methods arLd prin¢ipl¢s of the Charities SORP. Make judgements and estimafrs that are reasonable aiid prndent. (iv) State whether &ppLicable accounting st&ndards and gtatem¢nls of iecommended practice have beerL followed, subject to any depa￿r¢S disclosed and explained in the financial statelnents. (v) Prepare the fin&ncial statsments on a going concem basÈs unless it is inappropriate to presume that th¢ Trust will continlle in operation. Tkne Ti'ustees are responsible for keeptng accounting r¢¢ord8 which disclose witkn reasonable accuracy the financial position of the Trust and which enable them to ascertain the fiLwicial position of the T￿st and which enable thein to ensure that the f￿anCIal staternents comply with the Charities Act 2011, IE]¢ Charity (Account5 &id Reports) Regulations aud the provisions of the Trust De,ed. They are also responsible for safeguarding the assets of the Trust alld hence for talcing reasonable Steps foi. the pi'eveThtion and detection of fraud and Dthei. irregulaiitles. APPROVAL TtLiS i'¢POrt was approved by th¢ Trustees on aiid signed 011 tlieir behalf. f ZD? TRUSTEB TIIE JAMES WILLIAM PEMBERTON TRUST PAGE 3 FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024 INDEPEFJDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE JAMES WILLIAM PBMBERTON TRUST I report on the fIn￿]cIal statemeiits of The James William Pemberton Trust for the year ended 31 st December 2024 which are set out on pages 4 lo 8. RESPONS]BILlTIES AND BASIS OF REPORT As the Charity Trustees of the Trust you are responsible for the PTeparation of the acwunts in accordance with the requ￿eMentS of the Charities Act 2011 ('the Act,). I report in respect of my examination of the Trustees, accounts carried out under s.145 of the 201 l Act and in carrying out my exatnination I have followed all the applicable directions given by the Charity Commission under s. 145(5)(b) of the 2011 Act. INDEPENDENT EXAlvItNER'S STATEMENT I hav¢ cornpleted my examination. I confirni that no material matters have come to my attention in connection with the ex￿nImation giving me cause to believe that in any material respect., accounting records were not kept in respect of the Trust as i'equired by s. 130 of the Act. t&e accounts do not accord witb those records., or the accounts do not comply with the applicable requirements concerning the form and content of the accounts set out in the Charities (Accounts and Report3) R¢gulation8 2008 other than any requirement that the accounts give a'true and fair view, which is not a matter congidered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to wliich altention should be drawn in this report in ordeT to enable a proper understhnding of the accounts to be reached. Ev.fC IAN W SHIPLE4Y fccA FOR AND ON BEHALF OF: PRENTIS & CO LLP CHARTERED ACCOLfNTANT8 & INDEPENDENf EXAMINERS 115¢ Milton Road CaiTJbridge CB4 IXE Isth CLkdx. . C>cc 0￿0 wo 000 )0 THE JAMES WILLIAM PEMBERTON TRUST PAGE 5 FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 ST DECEMBER 2024 BALANCE SHEET Notes 2024 2023 FIXED ASSETS Inv¢sttnent property InvestLJents 177,512 169,511 148,998 TOTAL FIXED ASSETS 177,512 3I8,509 CURRBNT ASSETS Cash at Bant< 231,481 74,350 LIABILITIES Creditors.. amounts falli1￿ due within one year 702 645 Net Current assets 230,779 73,705 TOT AL ASSETS 408,291 392,214 TFIE FUNDS OF, THE CHARtTY.' estrLGted Fullds Bndowtnent Fund io 88,591 319,700 9l,819 300,395 408,191 392,214 The financial 8tatetneTrts were approved by the Tru9tees on and Signed on thetr beknall. CLLml , 7L)"L TRUSTEE Tlie notes on pages 6 to 8 f01111 part Of these fLnaiicial statements. THE JAMES WILLIAM. PEMBBRTON TRUST PAGE 6 FINANCIAL STATEMENTS FOR TIIE YEAR ENDED 3 1ST DECEMBER 2024 NOTES TO THE FINANCIAL STATEMENTS ACCOUNTING POLICIES (a) BASIS OF PREPARATION or FINANCIAL STATEMENTS The financial statements have been prepared in accordance with Accounting and Reporting by Charitie8'. Statement of Recommended Practice applicable to Ch￿ltieS preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1st January 2019) - (Charities SORP (FRS 102)) and the Finan.cial Reporting Standard applicable in the UK an.d Republic of treland (FRS 102) and the Ch￿￿tieS Aot 2011. The Trust bas a150 taicen advantage of exemptions available for stnaller entilies under section IA of FRS 102 and the Charities SORP (FRS 102). In particular the Trustees ILave talcen advantage of the exeinption fron the need to prepare a Staternent of Cash Flows. The fll]an¢ial statemenl's have been prepared under the historical cost convention with ilems recogrjised at cost or transaction value unless otherwise stated in the relevant notes to those financial statements. The charity's fjnancial statements are prepared w]der the going concern basis. This is appropriate and the Trustees are of the view that there are no factors that affect going concem in the following 12 months. (b) FUND ACCOUNTING The Trust maintains d general unrestricted fund which is expendable at the discretion of the Trustees in fuTiheiance of the objects of the Trust. Such fifftds may be held in order to fmance both WOTl