**REGISTERED CHARITY NUMBER: 1087321**
**REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
**FOR**
## **CHRIST CHURCH ST LEONARDS OLD BUILDINGS**
Ashdown Hurrey Auditors Limited Statutory Auditors 20 Havelock Road Hastings East Sussex TN34 1BP
**CHRIST CHURCH ST LEONARDS OLD BUILDINGS**
## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
||**Page**|
|---|---|
|**Report of the Trustees**|1 to 3|
|**Independent Examiner's Report**|4|
|**Statement of Financial Activities**|5|
|**Balance Sheet**|6|
|**Notes to the Financial Statements**|7 to 11|
|**Detailed Statement of Financial Activities**|12|
## **CHRIST CHURCH ST LEONARDS OLD BUILDINGS**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023**
The trustees present their report with the financial statements of the charity for the year ended 31 March 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
## **OBJECTIVES AND ACTIVITIES Objectives and aims**
The objects of the Trust are:
1. The advancement and promotion of theological education and training for lay and ordained persons in the Church of England;
2. meeting room(s) and related facilities for the use of the ecclesiastical parish of Christ Church, St Mary Magdalen and St Peter & St Paul St Leonards-on-Sea;
3. accommodation for members of the clergy and the families within the Church of England;
4. for such other charitable purposes connected with the Church of England as the trustees after consultation with the incumbent or priest for the time being in charge of the ecclesiastical parish of Christ Church, St Mary Magdalen and St Peter & St Paul St Leonards-on-Sea shall from time to time determine.
## **Public benefit**
The objects of Christ Church St Leonards Old Buildings Trust fall within the definition of the advancement of religion which for many years has been accepted as for the public benefit and therefore charitable. Under the 2011 Charities Act there is an overarching requirement that all charities must be for the public benefit.
The trustees have paid due regard to the Charity Commissions guidance on public benefit and are satisfied that the objects, aims and activities as described in the report are clearly for the public benefit and for the advancement of religion and are therefore charitable.
In addition the lease provided to CA1066 for the Magnet Centre at a below market rent was a positive decision by the Trustees to assist CA1066 in providing services to the local community including benefit advice and access, immigration status, debt, housing and many other needs for the support of individuals and families in crisis. This is a 10 year lease with breaks every 3 years.
## **ACHIEVEMENT AND PERFORMANCE Charitable activities**
The trustees have six premises which satisfy the objects:
- the Christ Church CofE Primary School formerly based in the Christ Church Buildings and which relocated in the 1990s, this land is subject to a 'Supplementary Agreement' with the Diocese of Chichester Academy Trust and satisfies object 4 - The Parish Centre satisfies object 2
- The availability of advice, support and training facilities in the Magnet Centre facilitated by the Citizens Advice Bureau (CA1066) and rooms in the Parish Centre satisfies object 1.
- 17 Alfred Street (aka the Curate's Flat) which satisfies object 3, currently the Curate's Flat is not used as a residence for a Minister of Religion so is let on a shorthold tenancy, which commenced on 1st May 2019.
- Renaissance House; a full repairing 125-year lease was completed with Hastings Borough Council in March 2006 on this building, considered an investment property, which fronts onto London Road, St Leonards on Sea. Income from the rental of the property which is received in August annually is used to for the maintenance of the remainder of the properties. The next rent review will be in 2027.
Page 1
**CHRIST CHURCH ST LEONARDS OLD BUILDINGS**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023**
## **ACHIEVEMENT AND PERFORMANCE Activities during the year**
During the year the Board
o Kept a closer relationship with the Mother Agnus Trust
o Continued to undertake minor maintenance such as cleaning and decorating the 'light well', replacing the failed pigeon deterrent and other minor but urgent work
o Renewed the short term (annual) lease on 17 Alfred Street
o Undertook Gas Safety checks in 14 Alfred Street
o Liaised with Christ Church on the ongoing maintenance of the Parish Rooms
o Participation in the 'Partnerships for People and Place' with CA1066 and ESCC
o Undertook a Fire Safety inspection
o Undertook major maintenance of the South side of the OSB
o Prepared for major maintenance of the North side of the OSB
o Had regular reports from +Peter regarding activities at Christ Church School
o Continued Anti-Social behavior initiatives such as CCTV (Safer Streets Project), keeping the curtilage clean in and around the OSB and Christ Church, including liaising with Community Leaders and Hastings Borough Council o Compliance with the Charities Commission advice on Risk, Conflict of Interests, Financial Control and annual inspection of the accounts
o Complied with new demands from Barclays Bank for reregistering the Trustees on the Bank mandate
o Noted that the position of Clerk to the Trustees will need to be filled when the current Clerk completes his move to Norfolk
## **FINANCIAL REVIEW**
## **Reserves policy**
The trustees have considered the reserves of the Charity. Income of funds letting property are largely used to maintain the buildings enabling their continued charitable use. It is the intention of the trustees to have a small reserve to cope with any unexpected repairs and maintenance, this will be in the order of £40k.
## **Mother Agnes Trust (MAT)**
During the year following the sale of land belonging to MAT at St Mary Holmehurst, there was wide ranging discussions with the MAT Trustees on how they might support CCOBT in the longer term, especially regarding to the best use of the Old School Buildings. MAT were also mindful of the immediate financial needs of CCOBT if the necessary maintenance work for both the South and North elevations was to be completed in the near future. To this end MAT made a gift of £100k to CCOBT and also wrote off the outstanding loan of £679k.
## **FUTURE PLANS**
The use of the School land, the 17 Alfred Street, the Parish Centre, the Magnet Centre and Renaissance House will continue as now but is reviewed each year.
It is an objective of the Trustees to develop a long-term plan for the whole of the Old School Buildings to ensure it meets the Objectives of the Trust, it is financially viable, and the fabric is maintained to an appropriate standard.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document and background**
The Charity is controlled by its governing document, a deed of trust, and constitutes an unincorporated charity.
Under the declaration of trust deed dated 7 March 2001, the Charity was registered by the Charity Commission on 3 July 2001, and is governed by this declaration of trust.
On 24 December 2002 the Trust acquired assets and liabilities amounting to £58,926 from predecessor trusts with the consent of the Charity Commissioners.
The major asset acquired was land and buildings in St Leonards-on-Sea. The Trust undertook a major redevelopment project in respect of the land and buildings (which were derelict) so as to restore them for use in the objects of the Trust. The project in terms of development is complete and was largely financed by grants and loans.
The land and buildings have been revalued now the project is completed and have been restated in the accounts at market value. Previously the net cost of the development (net of grants) had been added to the market value of the land and buildings transferred from the predecessor Trusts.
Page 2
**CHRIST CHURCH ST LEONARDS OLD BUILDINGS**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT Recruitment and appointment of new trustees**
Existing trustees appoint trustees at any time during the year under the terms of the Trust.
The trustees consider on a regular basis, whether additional trustees are required to fulfil specific roles within the Charity. When identifying new trustees, consideration is given to their background, relevant professional skills and knowledge of the area in which the Charity operates.
In January 2023 the Board approved the appointment the of Fr Thomas Crowley to the Board given his new position as Rector of Christ Church, and Andrew Knight so he could carry out his finance function and liaison with Barclays Bank.
During the year the original Board met five times, the board being the membership of the Rt Revd Peter Wheatley, the Rt Revd Nicholas Reade, Mrs Maureen Harman, Mr Ian MacKellar, Mrs Susan Parsons and Paul Lewis. It met once more with the addition of the two new Trustees Fr Thomas Crowley and Andrew Knight.
New trustees, where appropriate, receive training from the Charity's professional advisors and the existing trustees.
## **Organisational structure**
The trustees meet throughout the year to discuss matters to date and to reach agreement on significant decisions to be made.
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number**
1087321
## **Principal address**
2 Christ Church Courtyard London Road St Leonards on Sea East Sussex TN37 6GL
## **Trustees**
M E Harman N Reade P Wheatley I MacKellar P Lewis S Parsons A Knight (appointed 18.1.23) T P V Crowley (appointed 18.1.23)
## **Independent Examiner**
Ashdown Hurrey Auditors Limited Statutory Auditors 20 Havelock Road Hastings East Sussex TN34 1BP
Approved by order of the board of trustees on 24 July 2023 and signed on its behalf by:
P Wheatley - Trustee
Page 3
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CHRIST CHURCH ST LEONARDS OLD BUILDINGS**
## **Independent examiner's report to the trustees of Christ Church St Leonards Old Buildings**
I report to the charity trustees on my examination of the accounts of Christ Church St Leonards Old Buildings (the Trust) for the year ended 31 March 2023.
## **Responsibilities and basis of report**
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
## **Independent examiner's statement**
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
I have completed my examination. I 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:
1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
2. the accounts do not accord with those records; or
3. 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.
I 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.
S R Sampson BFP FCA FCIE DChA
Ashdown Hurrey Auditors Limited Statutory Auditors 20 Havelock Road Hastings East Sussex TN34 1BP
Date: 24 July 2023
Page 4
## **CHRIST CHURCH ST LEONARDS OLD BUILDINGS**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023**
|Notes
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
**Charitable activities**
Charitable activities
Investment income
2
**Total**
**EXPENDITURE ON**
**Charitable activities**
Charitable activities
Other
**Total**
**NET INCOME**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**|31.3.23
Unrestricted
fund
£
779,783
7,680
83,681
871,144
146,621
1,440
148,061
723,083
292,623
1,015,706|31.3.22
Total
funds
£
-
7,308
27,768
35,076
22,936
1,200
24,136
10,940
281,683
292,623|
|---|---|---|
The notes form part of these financial statements
Page 5
## **CHRIST CHURCH ST LEONARDS OLD BUILDINGS**
## **BALANCE SHEET 31 MARCH 2023**
|Notes
**FIXED ASSETS**
Tangible assets
5
**CURRENT ASSETS**
Debtors
6
Cash at bank
**CREDITORS**
Amounts falling due within one year
7
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT LIABILITIES**
**CREDITORS**
Amounts falling due after more than one year
8
**NET ASSETS**
**FUNDS**
9
Unrestricted funds
**TOTAL FUNDS**|31.3.23
Unrestricted
fund
£
872,711
2,068
147,317
149,385
(6,390)
142,995
1,015,706
-
1,015,706
1,015,706
1,015,706|31.3.22
Total
funds
£
872,711
2,556
103,289
105,845
(6,150)
99,695
972,406
(679,783)
292,623
292,623
292,623|
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 24 July 2023 and were signed on its behalf by:
P Wheatley - Trustee
The notes form part of these financial statements
Page 6
**CHRIST CHURCH ST LEONARDS OLD BUILDINGS**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Grants consist of £100,000 in respect of amounts to be used in for major works and £679,783 which was a loan that has been formally written off.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
|Old Buildings|- not provided|
|---|---|
|Fixtures and fittings|- 25% on reducing balance|
Expenditure meeting the definition of fixed assets are capitalised at the trustees' discretion having due regard to expected economic life and cost.
## **Taxation**
The charity is exempt from tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **2. INVESTMENT INCOME**
|**INVESTMENT INCOME**|||
|---|---|---|
||31.3.23|31.3.22|
||£|£|
|Rental income|20,332|19,974|
|Service charges|63,096|7,783|
|Deposit account interest|253|11|
||83,681|27,768|
continued...
Page 7
**CHRIST CHURCH ST LEONARDS OLD BUILDINGS**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023**
## **3. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 March 2023 nor for the year ended 31 March 2022.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 March 2023 nor for the year ended 31 March 2022.
## **4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
|**INCOME AND ENDOWMENTS FROM**
**Charitable activities**
Charitable activities
Investment income
**Total**
**EXPENDITURE ON**
**Charitable activities**
Charitable activities
Other
**Total**
**NET INCOME**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**
**TANGIBLE FIXED ASSETS**
**COST**
At 1 April 2022 and 31 March 2023
**DEPRECIATION**
At 1 April 2022 and 31 March 2023
**NET BOOK VALUE**
At 31 March 2023
At 31 March 2022|Old
Buildings
£
865,100
-
865,100
865,100|Unrestricted
fund
£
7,308
27,768
35,076
22,936
1,200
24,136
10,940
281,683
292,623
Fixtures
and
fittings
Totals
£
£
20,979
886,079
13,368
13,368
7,611
872,711
7,611
872,711|
|---|---|---|
## **5. TANGIBLE FIXED ASSETS**
The charity undertook a major development and improvement on the old buildings that it acquired from predecessor trusts. The development was funded by grants and loans.
Following the completion of the development the land and buildings were professionally valued. The external valuation was based on an inspection of the premises made by O Dyer MRICS Independent Valuer, on 8 March 2017 and 3 April 2017.
continued...
Page 8
**CHRIST CHURCH ST LEONARDS OLD BUILDINGS**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023**
## **5. TANGIBLE FIXED ASSETS - continued**
The professional property valuations referred to above were:
|Former Magnet Centre, Parish Centre and Curate's Flat
Christ Church Hall (Building 1)
Parcel of land|475,000
390,000
100
865,100|
|---|---|
The trustees consider the valuation to be for non specific use of the buildings and as such the values of the properties in the financial statements is the transfer value from predecessor trusts plus cost of development and improvement works, less grants. The trustees consider the above valuation as at 31 March 2017 to reflect the fair value as at 31 March 2020.
|**6.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Other debtors
Prepayments
**7.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Accruals
Deferred income
**8.**
**CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR**
Loan from MAT - Restoration
**9.**
**MOVEMENT IN FUNDS**
At 1.4.22
£
**Unrestricted funds**
General fund
292,623
**TOTAL FUNDS**
292,623|31.3.23
31.3.22
£
£
-
609
2,068
1,947
2,068
2,556
31.3.23
31.3.22
£
£
1,440
1,200
4,950
4,950
6,390
6,150
31.3.23
31.3.22
£
£
-
679,783
Net
movement
At
in funds
31.3.23
£
£
723,083
1,015,706
723,083
1,015,706|
|---|---|
continued...
Page 9
**CHRIST CHURCH ST LEONARDS OLD BUILDINGS**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023**
## **9. MOVEMENT IN FUNDS - continued**
Net movement in funds, included in the above are as follows:
|Incoming
resources
£
**Unrestricted funds**
General fund
871,144
**TOTAL FUNDS**
871,144
**Comparatives for movement in funds**
At 1.4.21
£
**Unrestricted funds**
General fund
281,683
**TOTAL FUNDS**
281,683
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
35,076
**TOTAL FUNDS**
35,076
A current year 12 months and prior year 12 months combined position is as follows:
At 1.4.21
£
**Unrestricted funds**
General fund
281,683
**TOTAL FUNDS**
281,683|Resources
Movement
expended
in funds
£
£
(148,061)
723,083
(148,061)
723,083
Net
movement
At
in funds
31.3.22
£
£
10,940
292,623
10,940
292,623
Resources
Movement
expended
in funds
£
£
(24,136)
10,940
(24,136)
10,940
Net
movement
At
in funds
31.3.23
£
£
734,023
1,015,706
734,023
1,015,706|
|---|---|
continued...
Page 10
**CHRIST CHURCH ST LEONARDS OLD BUILDINGS**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023**
## **9. MOVEMENT IN FUNDS - continued**
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|Incoming
resources
£
906,220
906,220|Resources
Movement
expended
in funds
£
£
(172,197)
734,023
(172,197)
734,023|
|---|---|---|
## **10. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 31 March 2023.
Page 11
**CHRIST CHURCH ST LEONARDS OLD BUILDINGS**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023**
|**DETAILED STATEMENT OF FINANCIAL ACTIVITIES**
**FOR THE YEAR ENDED 31 MARCH 2023**|||
|---|---|---|
||31.3.23|31.3.22|
||£|£|
|**INCOME AND ENDOWMENTS**|||
|**Donations and legacies**|||
|Grants|779,783|-|
|**Investment income**|||
|Rental income|20,332|19,974|
|Service charges|63,096|7,783|
|Deposit account interest|253|11|
||83,681|27,768|
|**Charitable activities**|||
|Curate's flat income|7,680|7,308|
|**Total incoming resources**|871,144|35,076|
|**EXPENDITURE**|||
|**Charitable activities**|||
|Insurance|4,065|3,753|
|Postage and stationery|-|60|
|Premises expenses|127,868|5,100|
|Fixtures and fittings|-|2,536|
||131,933|11,449|
|**Support costs**|||
|**Governance costs**|||
|Accountancy|1,440|1,200|
|Professional fees|14,688|11,487|
||16,128|12,687|
|Total resources expended|148,061|24,136|
|**Net income**|723,083|10,940|
This page does not form part of the statutory financial statements
Page 12