Iver Educational Trust
Report and Financial Statements Year ended: 31°* December 2024 Charity no: 1076234
Report of the Trustees for the year ended 31% December 2024
The trustees present their annual report and financial statements of the charity for the year ended 31st December 2024
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity’s trust deed, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard for Smaller Entities published on 16/07/14.
Objectives and Activities for the Public Benefit and Achievements and Performance and how they have delivered Public Benefit
The purposes of the Trust are “to further the religious and other charitable work of the Church of England in the parish by the provision and maintenance of a church building” and “the promotion of educational activities organised by the Church of England in the Parish of Iver”
It is used for the benefit of the local community through the letting of the main hall for such activities as a children’s Performing Arts and Drama group and a Pilates Group. The weekly community activity group for older local residents ceased using the hall in February 2024 after a move to alternative premises
It is also let out on an ad-hoc basis for children’s parties and very occasionally for some corporate training events and for the use of other local groups. Throughout 2024 there has been a tenant in the upstairs office space which has provided a muchneeded boost to the income of the charity.
The PCC of St Peter’s Church continues to use a couple of rooms for storage and pays a monthly storage fee to IET. IET pays a contribution towards the cost of employing the Church Administrator for up to 6 hours per week to provide administrative support for IET. The church also occasionally uses the main hall for social events for which they also pay a hire fee to IET.
Upstairs at the rear of the property there is a one-bedroom flat which is let out to provide additional funds.
Financial review
During 2024 the Trust was dependent on the income generated through the letting of the flat at the rear of the building, the office space on the first floor at the front of the building
and the income from the hire of the main downstairs hall for drama and dance and Pilates classes. All expenditure during 2024 related to either building maintenance related matters (including repairs, utilities, insurance, cleaning etc.) or administrative expenses.
Reserves Policy
The trustees aim to maintain free reserves in unrestricted funds at a level which equates to approximately six months of unrestricted charitable expenditure. The trustees consider that this level will provide sufficient funds to respond to building maintenance expenses and ensure that support and governance costs are covered. The balance held as unrestricted funds at 31° December 2024 was £29,734. Actual 6-month cash payments totalled £9,494. The current level of reserves is therefore higher than is needed.
Plans for the Future
Trustees have continued to look for additional regular users for the building.
Structure, governance and management
The Trust is a registered charity, number 1076234, and is constituted under a trust deed dated gth April 1999. The Trust does not actively fundraise and seeks to continue the charitable work desired through the careful stewardship of its existing resources. New trustees are appointed by the existing trustees and serve for five years after which they may put themselves forward for re-appointment. The Trust Deed provides for 5 Trustees, which consists of two co-opted trustees and three ex-officio trustees, namely the Vicar and churchwardens for the time being of the ecclesiastical parish of Iver. Any co-opted trustee must be a resident of the village of Iver. During most of 2024 there was only one co-opted trustee.
The trustees must hold at least 2 ordinary meeting in each 12-month period. The Trust employs an administrator for up to 6 hours each week, who is not a Trustee.
Key management personnel remuneration
The trustees consider the board of trustees (assisted by the administrator) as comprising the key management personnel of the charity in charge of directing and controlling the charity and running and operating the charity on a day to day basis. All trustees give of their time freely and no trustee remuneration was paid in the year.
Reference and administrative information
Trustees Revd Robert Gooding — Chair of Trustees Mr Paul Rawlings (churchwarden) Mr David Pike (co-opted) (resigned on 25" January 2024) Mr Amit John (co-opted) (resigned on 9" December 2024)
Although Mr Amit John moved out of the parish in October 2023, it was also unanimously agreed at each Trustee meeting during 2024 to suspend the constitution until the next meeting to allow Mr John to continue as a trustee in the short term. Thanks were recorded to both Mr Pike and Mr John for their faithful service as Trustees.
The remaining trustees are actively looking to appoint 2 new co-opted Trustees as soon as possible.
Principal Office
St Peter’s Centre 1 Thorney Lane North Iver Bucks SLO 9JU
Bankers HSBC bank 282 High Street Langley Slough SL3 8HG
Trustees’ responsibilities in relation to the financial statements
The charity trustees are responsible for preparing a trustees’ annual report and financial statements 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 charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, of the charity for that period. In preparing the financial statements, the trustees are required to:
e select suitable accounting policies and then apply them consistently; ¢ observe the methods and principles in the applicable 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 financial statements,
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust deed.
They are also responsible for safeguarding the assets of the charity and taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees are responsible for the maintenance and integrity of the charity and financial information.
Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Approved by the trustees on 29" October 2025 and signed on their behalf by:
Revd Robert Gooding — Chair of Trustees
Iver Educational Trust Charity No. 1076234 Annual accounts for the period Period orrodstartdat Tc Period end srart cae 01-Jan-24 ° date 31-Dec-24
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Section A Statement of financial activities
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Restricted Recommended @ Unrestricted income Endowment Total this Total last categories by activity 2 funds funds funds year year £ £ £ £ £ Incoming resources (Note 3) Incominggenerated fundsresources from Ye | Incoming resources from charitable activities 3 26,402 26,402 20,595 Total incoming resources 3 26,402 a 26,402 20,595 Resources expended (Notes 4-8) Costs of generating voluntary income Charitable activities 4 18,939 a ee 18,939 21,625 Total resources expended 4 18,989 a 18,989 21,675 Net incoming/(outgoing) resources before transfers 7,413 7,413 |- 1,080 other recognised gains/(losses) 7,413 7,413 |- 1,080 Other recognised gains/(losses) for the charity’s own use Net movement in funds 7ago| = | - ~| 7.480 Total funds brought forward 28,187 2,240 pe 30,427 fF Total funds carried forward 35,667 2,240 P| 37,907 P|
Section B
Balance sheet
| Restricted | |||||||
|---|---|---|---|---|---|---|---|
| @ | Unrestricted | income Endowment Total this |
Total last | ||||
| 2 | funds | funds | funds | year | year | ||
| £ | £ | £ | £ | £ | |||
| Fixed assets | |||||||
| Tangible assets Investments Total fixedassets |
es 7 |
A 3603 |
3693 |
- | - | ||
| Current assets | |||||||
| Stockandwork in progress | a | ||||||
| Debtors (Shortterm) investments Cash atbankand in hand Totalcurrentassets |
a | a a 31,974 2,240 Pe 8 |
34,214 26,801 31,974 2,240] - |
34,214 26,801 |
|||
| Creditors: amounts falling | due within | ||||||
| one year (Note 12) |
9 | ||||||
| Netcurrentassets/(iabilities) | 31,974 | 2,240} | - | 34,214 | |||
| Totalassets lesscurrentliabilities | 5,667 | 22407 | = [84,907 | ||||
| Creditors: amounts falling | due after | ||||||
| one year | |||||||
| Netassets | 35,667 | 2,240. - +1 |
37,907 | 30,427 | |||
| Funds of the Charity Unrestrictedfunds Restrictedincomefunds Endowmentfunds |
o | 35,667[ |
- | ee |
- | - 2240[ es |
|
| Totalfunds | 35,067 | 2,240. - +1. |
37,907 | 30,427 | |||
| Signed on behalf of all thetrustees . |
ee | Print Nanie | Date of approval |
Section C Notes to the accounts Note 1 Basis of preparation 1.1 Basis of accounting These accounts have been prepared on the basis of historic cost (except that investments are shown at market value) in accordance with:
-
¢ Accounting and Reporting by Charities —- Charities SORP (FRS 102)
-
¢ and with Accounting Standards;
-
and with the Charities Act.
| 1.2 Change in basis of accounting |
|---|
| These accounts have been prepared on the payments and receipts basis. |
| 1.3 Changes to previous accounts |
| No changes have been made to accounts for previous years. |
| Note 2 Accounting policies |
| INCOMING RESOURCES |
| Recognition of |
| incoming resources These are included in the Statement of Financial Activities (SoFA) when monies are received. |
| neoming FESOUrces where incoming resources have related expenditure (as with fundraising or contract income) the incoming with related : ; . resources and related expenditure are reported gross in the SoFA. expenditure |
| Grants and donations Grants and donations are only included in the SoFA when the charity has unconditional entitlement to the |
| resources. |
| Contractual income |
| and performance This is only included in the SoFAonce the related goods orservices have been delivered. |
| related qrants |
| ee Gifts in kind are accounted for ata reasonable estimate of their value to the charity or the amount actually Gifts in kind : realised. |
| Gifts in kind for use by the charity are included in the SoFA as incoming resources when receivable. |
| Donated services and These are only included in incoming resources (with an equivalent amount in resources expended) where |
| facilities the benefit tothe charity is reasonably quantifiable, measurable and material. The value placedon these resources is the estimated value to the charity of the service or facility received. |
| Thevalue ofanyvoluntary help received is notincluded intheaccounts but isdescribed inthetrustees’ Volunteer help annual report. |
| Investment income This is included in the accounts when received. |
| Investment gains and This includes any gain or loss on the sale of investments and any gain or loss resulting from revaluing |
| losses investments to market value at the end of the year. |
| EXPENDITURE AND LIABILITIES |
| Liability recognition Liabilities are recognised when paid. |
| Governance costs Include costs ofthe preparation and examination of statutory accounts, the costs of trustee meetingsand |
| cost of any legal advice to trustees on governance or constitutional matters. |
| ASSETS |
| Tangible tixed assis These are capitalised iftheycan be used for more than one year, andcost at least £500. Theyare valued for useby charity atcost ora reasonable value on receipt. |
| Investments Investments quoted on a recognised stockexchange are valued at marketvalue atthe year end. Other |
| investmentassetsareincludedattrustees'bestestimateofmarketvalue. |
Section C
Notes to the accounts
Note 3 Analysis of incoming resources
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This year Last year
Analysis £ £
Voluntary income Donations andcontributions | -| sid
Total]
TotaleT|
Incoming resources from Hire of Hall 5,392 6,628
charitable activities Rental of Flat 10,810 10,225
Rental office space 10,200 3,742
Total 26,402 20,595
Note 4 Analysis of resources expended
Analysis This year Last year
£ £
Charitable activities Gas, Electricity & Water 5,463 5,506
Cleaning & waste collection 2,890 3,002
Repairs & Renewals 2,368 2,721
Flat rental expenses 2,038 1,472
1,467 1,451
Secretarial and admin
services 3,375 5,636
Telephone Charges 1,087
Miscellaneous costs
Total 18,939 21,625
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Note 5 Details of certain items of expenditure
5.1 Trustee expenses
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Number of trustees who were paid expenses
Nature of the expenses
Total amount paid
5.2 Fees for examination or audit of the accounts
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ee
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| This year | Last year |
|---|---|
| £ | 3 |
Independent examiner's or auditors' fees for reporting on the accounts Other fees (for example: advice, consultancy, accountancy services) paid to the independent examiner or auditor
5.1 Staff Costs
The charity employes a part time employee who provides administrative support to charitable operations
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£ £
; Gross wages, salaries and benefits in kind 3,375 5,625
Employer’s National Insurance costs ee eee
Pension costs nn ee
Total staff costs 3,375 5,625
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Section C
Notes to the accounts
Note 6 Tangible fixed assets
6.1 Cost or valuation
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Freehold land & buildings | Other land & Plant, Fixtures, Payments on Total
buildings machinery and| fittings and | account and
motor vehicles| equipment | assets under
construction
£ £ £ £ £ £
Balance brought forward a ee 16,092] =
ee
Additions = 16,092
Revaluations aae eeesee
Balance carried forward es 16092] ss- —| 16,092
6.2 Accumulated depreciation and impairment provisions
Basis)CT Straightline [Total
Raeltt Ot
Balance brought forward se 16,092] =| 16,092
Depreciation charge for year Ee ee
Impairment provisions ee
ee
Revaluations ee ee
a ee
Disposals ee ee
Balance ee ee
carried forward ee ee ee 16,092| |_| 16,092
6.3 Net book value
CarriedBrought forwardforward eeeeeeee e eee eeeeee eeeee eee
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Note 7 Investment assets
7.1 Fixed assets investments
Carrying (market) value at beginning of year Add: additions to investments at cost Less: disposals at carrying value Add/(deduct): net gain/(loss) on revaluation Carrying (market) value at end of year
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£
3,626
Pe
P|
3,693
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Analysis of investments
Investment properties Investments listed on a recognised stock exchange or held in common investment funds, open ended investment companies, unit trusts or other collective investment schemes Investments in subsidiary or connected undertakings and Securities not listed on a recognised Stock Exchange Cash held as part of the investment portfolio Other investments
Total
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Market value at| Income from
year end investments
for the year
£ £
rs eee
3,693 67
ee ee
ee ee
ee ee
Es eee
3,693
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7.2 Material investment holdings
Charinco/Charishare UK Unit Truts 3,693
Investment held Market Value Section C
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Notes to the accounts
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Note 8 Debtors and prepayments
Analysis of debtors
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Amounts falling due within Amounts falling due after
one year more than one year
This year Last year This year Last year
£ £ £ £
Trade debtors eSee eee
Amounts due from subsidiary and associated undertakings es Rs
Other debtors a
Total
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Note 9 Creditors and accruals
Analysis of creditors
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Amounts falling due within Amounts falling due after
one year more than one year
£ £ £ £
TradeAmountsLoans andcreditorsdueoverdraftsto subsidiary and associated undertakings re:ee)esSeeses esesa eee
OtherAccrualscreditorsand deferred income Eseses ee) eee
Total a e es e se eee
Note 10 Endowment and restricted income funds
10.1 Funds held
Fund Name Type Purpose and Restrictions
BMX Fund [Restricted ~~~ JA fund for the development of the BMX track in Iver
moins 3 A fund for a buddy up scheme, a befriending and support service for
es aioe Restiniey vulnerable children in Iver
Holidays fund Restricted =———S—_—«S[A fund to run holiday activities for children in Iver
Evreham fund A fund to pay for youth related activities held at the Evrenam Centre, Iver
SiHibas fund A lund to pay for minibus transport for children and youth related activities in
10.2 Movements of major funds
Fund
balances
Fund balances brought Incoming Outgoing Gains and carried
forward resources resources Transfers losses forward
Fund names £ £ £ £ £ £
BMX Fund pO—SSS 158 |
Buddy Up fund ye2gf 526
Holidays fund PoC 183
Evreham fund <2
Minibus OC
fund POC 8 |
TotalFunds|—— MO
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Note 11 Transactions with related parties
11.1 Remuneration and benefits
Legal authority; Amounts paid or benefit Name of trustee or connected party (eg order, This year Last year
governing
£
£
[NoneCdn
11.2 Loans
[|Amountowing
parties
parties
11.3 Other transaction(s) with trustees or related parties
The Parochial Church Council of the ecclesiastical parish of St Peter, Iver is a related party of lver Educational Trust. Both charities share some common trustees and the parochial church council pay for the hire of facilities and some administration costs which are subsequently reimbursed
| Name ofthe trustee or related | Description | This year | This year | Last year | |
|---|---|---|---|---|---|
| party | Relationship to charity | ofthe | £ | £ | |
| The Parochial Church Council of | Trading relationship (hire of | Income charged | 1,800 | 1,800 | |
| the Ecclesiastical Parish of St | hall and admin costs) | by Iver | |||
| Peter, Iver | Educational to | ||||
| Parochial | |||||
| Church Council | |||||
| for hire of | |||||
| facilities | |||||
| The Parochial Church Council of | Trading relationship (hire of | Reimbursement | 3,375 | 5,625 | |
| the Ecclesiastical Parish of St | hall and admin costs) | of | |||
| Peter, Iver | administration | ||||
| cost paid by | |||||
| Parochial | |||||
| Church Council | |||||
| for Iver | |||||
| Educational - | |||||
| telephone, | |||||
| waste disposal, | |||||
| insurance, | |||||
| salaries |
| have completed my examination of the Statements of Financial Accounts for the Iver Educational Trust (IET) for the year ended 31 December 2024. My examination has been conducted having regard to the Directions and guidance for examiners (CC32) published by the Charity Commission for England and Wales.
| confirm that no material matters have come to my attention, in connection with the examination giving me cause to believe that in any material respect:
-
Accounting records were not kept in respect of the Trust as required by section 130 of the act; or
-
The accounts do not accord with those records; or
-
The accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view which is not a matter considered as part of an independent examination.
| have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Signed: HEP ALS CHETNA SUPEDA
Address: 1 The Old Orchard, Iver, Bucks SLO OAG
Date _/Zo ah2ees