REGIStERED CHARITY NUMBER: 1087321 REPORT OF THE TRusfEES AND UNAUDITED FINANCIAL ATEmENTs FOR THE YEAR ENDED 31 MARCH 2024 FOR CHRIsf CHURCH ST LEONARDS OLD BUILDINGS Ashdown Hurrey Charteroj Accountsnt & Business Advisers 20 HavelrKk Road Hastings East Sussex TN34 IBP
CHRIsf CHURCH sr LEONARDS OLD BUILDINGS coNrENTS OF THE FINANCIAL sfATEMEiirs FOR THE YEAR ENDED 31 MARCH 2024 Page Report of the Trustees I to 3 Independert Examiner's Report Statement of Financial Activities Balance Sheet Notes to the Financial Statements 7 to 11 Detsiled Ststement of Financial Activities 12
CHRIsf CHURCH sr LEONARDS OLD BUILDINGS REPORT OF THE TRusfEES FOR THE YEAR ENDED 31 MARCH 2024 The tnjstees present their report with the financial statemwts of the charity for the year ended 31 March 2024. The trustees have adopted the prowsions of Accounting and ReFQrting by Charities.. Statement of Recommended Practice applicable to charities preparing th8r accounts in accordan WTth the Financial RetThting Stsndard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019). OBJECrnIES AND ACtivrrIES Objectives and aims The objects of the Twst are: l. The advancement and promotion of theY)Iih3ical 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 ecclegastical Fkirish of thrist Church, St Mary Magdalen and St Peter & St Paul St Leonards-on-sea. 3. accommodation for members of the clergy and the families wtthin the Church of England; 4. for such other charitable purposes connt with the Church of England as the trustees a consultstion with the incumbent or priest for the time Ing in charge of the eccle5iaStical parish of Christ Church, St Mary Magdalen and St Peter & St Paul St Leonards-on-sea shall from time to time deterniine. Public benefft The objects of Christ Church St Leonards Old Buildings Trust fall wfthin the definttion of the advanment of religion which for many years has en acpted as for the public benefit and therefore charitable. Under the 2011 Charities Att there is an overarching rquirement that all charities must for the public bendiL The trustees have paid due regard to the Charity Commissions guidance on public benefit and are satisfied that the objects, aims and actNities as descritrEd in the repx)rt are clearty for the public benefit and for the advancement of religion and are therefore tharable. In addition the lease provided to CA1066 for the Magnet Centre at a below market rent was a SItiVe decision by the Trustees to assist CA1066 in prowding r¥IceS to the local community including LEnefit advi and access, immigration Status, debt, housing and many other needs for the suprKJrt of individuals and families in c15. This is a 10 year lease with breaks every 3 yea. ACHIEVEMENT AND PERFORMANCE Charitsble activities The trustees have six premises which satisfv the obj'ects: - the Christ Church CofE Primary School fomierly based in the Chrisi Church Buildings and which relccited in the 1990s, this land is subj'ect to a 'Supplementary Agrmenv with the Di0Se of Chichester Academy Trust and satisfies object 4 - The Parish Centre satisfies ob]'ect 2 - The availabilty of advice, support and training facilities in the Magnet Centre fao1it3ted by the Qtizens Advi Bureau (CA1066) and rooms in the Parish Centre satisfies Ob]t l. 17 Alfred Street (aka the Curate's Flat) which satisfies Obit 3, currently the Curate's FLIt 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 Hasb"ngs Borough UnCIl in March 2006 on this building, considered an investsnent property, which fronts onto London Road, St L&)nards on Sea. Income from the rental of the property which is r&reived in August annually is used to for the Maintenan of the remainder of the properties. The next rent rewew will be in 2027. Page I
CHRIsf CHURCH sr LEONARDS OLD BUILDINGS REPORT OF THE TRusfEES FOR THE YEAR ENDED 31 MARCH 2024 ACHIEVEMEMf AND PERFORMANCE Artivities durlng the year During the year the Board oversaw; - The completion of the major maintenance of the outside of OSB both South and North sNJe5 - The continuation of a ten-year lease let to CA1066 (CttFzens Advice Bureau) from 211119 - A continuation of a short-hold l-year tenancy lease let as a piivate residence for 17 Alfred Street from 11512020 - The continuation of a rolling l-year lease of the 'Parish to the Christ Cthurch Ffc A continuation of a 125-year lease to Hasknngs Borough Counol for the part of the building known as Renaissin House - The Board met seven times during 2023124 and dixu55ed and progressed where w)ssible o A closer relationship with the Mother Agnus Tru# (MAT) o Fire Safety in the Old School Buildings (OSB) o Long temi strategy of the use of the OSB including di%ussions with the Mother Agnes Trust and the Dioce o A successor for the post of Clerk to the Trustees o Anti-social behawour in and around the OSB and thrist Church o complian wtth the Charibes Commission a(fvI on Rtsk and nanCIal Control o Installation of pigeon deterrents. o Agreed an extension of the wlFlease in Renaissan House FINANCIAL REVIEW Reserves policy The trustees have considered the reserves of the Charity. Income of funds leth.ng property are largely used to maintsin the buildings enabling their continued charitable use. It is the intention of the trustees to have 3 small resetve to cope with any unexFected repairs and maintenance, this will be in the order of £40k Mother Agnes Trust (MAT} During the year following the finanoal 5UPtKIrt during 2022123 MAT had sJgge5ted to the CCOBT Board {Dec 2022) that it would be useful to conduct a feasibility study to explore the long-tem future of the Old Sch(KJl Buildings (OSB} but to include a wider brief in looking at the whole site, i.e. including Christ thurch. In Cknber 2023 Dr Emma Arbuthnot (Senior Church Buildings Officer for the Dic(ese of Chichester) produced a document 'Planning a feasibility Study for Christ Church Old Buildings Trust: considerations, options and [SSIble next steps. This was discussed by the Board who agreed the first stsp was to undertake a 'Community Audiv in conjuntticfft with Chrtst Churth, this 15 likely to start in April 2024. FUTURE PLANS The u of the SchrK)I land, the 17 Atfr&J Stre£t, the Parith Centre, the Magnet Centre and Renaissance House will continue as now but is reviewed each year. It is an objective of the Trustees to dLlop a long-temi plan for the whole of the Old Sch1 Buildings to ensure it meets the Ob]"ectives of the Trust, it 15 financially wable, and the fabric is maintained to an appropriate standard. srRucfuRE, GOVERNANCE AND MANAGEMEKr Governing document and background The Charty is controlled by ts goveming durnent, a deed of thjst. and constitutes an unincorporated chartty. Under the declaration of trust dd dat8J 7 March 2001, the Charity was registered by the Charity Commission on 3 July 2001, and is governed by thts daration of trust. On 24 December 2002 the Trust acquired aSts and liabilities amounting to £58,926 from predece550r tnjsts with the consent of the Charity CommissiorS. The major asset acquir&l wa5 lar and buiklings in St La)nards-on-Sea. The Trust undertook a major redevelopment project in respect of the land and buildings (which We derdKt) 9) as to restore them for use in the objects of the Trust. The prOjt in terms of development is complete and was large financed by grants and loans. The land and buildings have been revalued now the projett is completed and have been reststed in the accounts at market value. Previously the net cost of the development {net of grants) had bn added to the market value of the land and buildings transferred from the predecessor Trusts. In March 2024 the Board agreed to amend the Trust Deed to allow more fiexiLylity of the numtrEr of Trustees and also the tenure of the same. Page 2
CHRIST CHURCH sr LEONARDS OLD BUILDINGS REpoiYf OF THE TRUStEES FOR THE YEAR ENDED 31 MARCH 2024 5rRuuRE, GOVERNANCE AND MANAGEMENT Recruilment and appointment of new trustees Existing trustees apint trustees at any time during the year under the temis of the Trust. The trUStS consider on a regular basis, whether additional trustees are required to fvlI specific roles within the Charity. When identfying new tnjstees, con&deration is given to their background, relevant professional skills and knowledge of the area in which the Charty operates. In March 2024 the Board approved the appointsnent of Mr Peter King as a Trustee who will also tske over from Mr Andrew Knight as Clerk in the new finanaal year. During the year the original Board met seven times, the LN)ard Iking the membership of the Rt Revd Peter Wheatley, the Rt Revd Nicholas Reade, Mrs Maureen Hamian, Mrs Susan Parsons, Mr Pdul Lewis, Fr Thomas Crowley and Mr Andrew Knight. It is with sadness we lost Mr Ian MacKellar who died in Juty 2023. New tnjstees, where appropriate, rererve training from the Charitys professional advIr5 and the existing trustees. Organisational structure The trustees meet throughout the year to discuss matters to date and to agrment on significant deci%ons to be made. REFERENCE AND ADMINIsfRATIVE DEfA]LS 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 (resigned 31.7.23) P Lewis S Parsons A Knight T P V Crowley P King (appointed 21.3.24) Independent Examiner Ashdown Hurrey Chartered Accountant & Business Advisers 20 Havelc(k Road Hastings East Sussex TN34 IBP Approved by order of the tx)ard of trustees on 11 July 2024 and signed on its behalf by: P Wheadey - Trustee Page 3
INDEPENDENT EXAMINER'S REPORT TO THE TRusfEES OF CHRIST CHURCH sr LEONARDS OLD BUILDINGS Independent examiner's report to the tee5 of thrist Church St Leonards Old Buildings I retxjrt 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 2024. Responsibrlities and basis of report As the charty trustees of the Trust you a resnSIble for the preparation of the accounts in accordance wf(h the requirements of the Charttie5 Act 2011 {e Att,). I report in respect of my examination of the Trusvs accounts carried out under S&tion 145 of the Act and in carrying out my examination I have followed all applicable Directtons given by the Charity Commission under Section 145(5)(b) of the Independent examiner's slatement I have compteted my examination. I confirm that no material matters have come to my attention in cOnnOn with the examination giving me cause to tdieve that in any material respect: accounting records were not kept in resiktt of the Trust as required by StiOn 130 of the Act; or the accounts do not accord with those rerords. or the accounts do not comply wtth the applicable requirements concerning the fom and content of accounts out in the Charities {Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view whth 15 not a matter consKJered as part of an independent examination. I have no concems and have come acr055 no other matters in cOnntIon with the examination to which attention should be drawn in this rekx)rt in order to enable a proper understanding of the accounts to trE reached. S R Sampson BFP Fcq FCIE DChA Ashdown Hurrey Chartered Accountsnt & Business Athsers 20 Havelock Road Ha5tings East Sussex TN34 IBP Date: 9 August 2024 Page 4
CHRIsf CHURCH ST LEONARDS OLD BUILDINGS srATEMEKf OF FINANCIAL AcrivrrIES FOR THE YEAR ENDED 31 MARCH 2024 31.3.24 Unresthcted fund 31.3.23 Totsl funds INCOME AND ENDOWMEKfs FROM Donations and legacies 779,783 Charitsble activities Charitable attivities 8,448 7,680 Investment income 112 637 Total 121085 EXPENDITURE ON Charitsble activities Charitable activitses 180,801 146,621 Other Total 182 241 148 061 NEf INCOMEI(EXPENDrruRE) (61,156) 723,083 RECONCIUATION OF FUNDS Totsl funds brought forward 1,015,706 292,623 TOTAL FUNDS CARRIED FORWARD 954 550 1015 706 The notes forn) part of these finanaal statements Page 5
CHiusf CHURCH sr LEONARDS OLD BUILDINGS BALANCE SHEEr 31 MARCH 2024 31.3.24 Unrestricted fund 31.3.23 Total fur5 FIXED ASSErs Tangible assets 872,711 872,711 CURRENT ASSETS Debtors Cash at bank 2,211 2,068 147 17 88,228 149,385 CREDrroRS Amounts falling due within one year (6,389) (6,390) NET CURRENT ASSErs 142 995 TOTAL ASSEfs LESS CURREMf LIABILITIES 954,550 1,015,706 NET ASSErs 954 550 1015 706 FUNDS Unrestricted funds 954 550 1015 706 TOTAL FUNDS 954.550 1015 706 The financial statements were approved tyy the Board of TnE5ttts and authorised for issue on 11 Jufy 2024 and were sNJned on its behalf by: P Wheauey - Trustee The note5 fomi tkirt of these financtal s&*ements
CHRisf CHURCH ST LEONARDS OLD BUILDINGS NOTES TO THE FINANaAL sfATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES Basis of preparing the financial statements The financial statements of the charty. whth is a wtblic benefft entity under FRS 102, have teen prepared in accordan wtth the Charities SORP (FRS 102) 'Accounting and RerKrting by Charities.. Ststement of Recommended Prattl applicable to charittes preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) {effective l January 2019),, Financial Reporting Standard 102 The nanCIal RertIng Standard applicalje in the UK and Republic of Ireland. and the Charities Act 2011. The finanaal statements have been prepar1 under the historical cost convention. Income l income is reccgnised in the Ststement of Finanoal Activ"eS On the charity has entitlement to the funds, it is probable that the income wll be r1ve(l and the amount can be measured rdiaLIy. Expenditure abilities a recognised as extEnditure as 9)on as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transFer of OnOmIC benefts will requir&1 in settlement and the amount of the obligation can be measured reliabty. 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 direcuy attributed to particular headings they have trEen allc£ated to athw.ties on a basis consistent with the use of reg)urces. Tangible fixed assets Depreciation is provided at the following annual rates in order to write off asset over its estimated uful Old Buildings Fre5 and fittings not provided 25% on reducing balan Expenditure meeting the definition of ftxed assets are capitalised at the trustees, discretion having due regard to expected economic life and cosL Taxation The charity is exempt from tax on its charttable activitse5. Fund accounting Unrestritted funds can be used in accordance with the charitae obje£tives at the discretion of the trustees. Restricted funds can only be used for particular restricted purpm wtthin the Ob]ts of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restrict purwses. Further explanation of the nature and purpose of each fund is included in the notes to the finanaal statements. INVEsfMENT INCOME 31.3.24 31.3.23 Rental income servi charges Deposit account interest 20,334 90,926 20,332 63,096 253 112 637 Page 7 continued...
CHiusf CHURCH sr LEONARDS OLD BUILDINGS NOTES TO THE FINANCIAL sfATEMENTS - cvntinued FOR THE YEAR ENDED 31 MARCH 2024 TRusfEES' REMUNERATION AND BENEFrrs There were no trustees, remuneration or other benefjts for the year ended 31 March 2024 nor for the year ended 31 March 2023. There were no trustees. expen5 paid for the year ended 31 March 2024 nor for the year ended 31 March 2023. COMPARATIVES FOR THE sfATEMENT OF FINANCIAL AcfIvTfIES fund INCOME AND ENDOWMENfs FROM Donations and legacies 779,783 Charitable activities Charitable atttV5be5 7,680 Investment income Total EXPENDrruRE ON Charitsble activibes Charitable activities 146,621 ljther 1,440 Total 148 061 NET INCOME 723,083 RECONCIUATION OF FUNDS Total funds brought fOard 292,623 TOTAL FUNDS CARRIED FORWARD 1015 706 TANGIBLE FIXED ASSErs Old Buildings and ffttings Tots15 cosr At l April 2023 and 31 Marth 2024 DEPRECIATION At l April 2023 and 31 March 2024 NEf BOOKVALUE At 31 March 2024 865 100 872 711 At 31 March 2023 872 711 The charity undertook a major development and improvement on the okj bjitdings that it wuired from predeCesr trusts. The development was ftjnded by grants and loans. Page 8 continu&l...
CHRIsf CHURCH sr LEONARDS OLD BUILDINGS NOTES TO THE FINANCIAL sfATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 TANGIBLE FIXED ASSEfs - continued Following the completÉon of the development the Land and buildings were professionally valued. The external valuation was based on an inSt"0n of the premises made by O Dyer MFUCS Independent Valuer, on 8 March 2017 and 3 April 2017. The professonal propety valuations rerred to atx)ve were: Fomier Magnet Centre, Parish Centre and Cut7te's Hat Christ Church Hall (Building l) Par1 of land 475,000 390,000 loo 865 100 The trustees consider the valuation to Ee for non specrfic use of the buildings and as such the values of the properties in the financial statements is the transfer value from edeCesr trusts plus cost of development and improvement works, less grants. The trustees consider the above valuation 3s at 31 March 2017 to the fair value as at 31 Marth 2024. DEBTORS: AMouNfs FALUNG DUE WtrHIN ONE YEAR 31.3.24 31.3.23 Prepayments CREDrroRS: AMOUNTS FALUNG DUE wmiIN ONE YEAR 31.3.24 31.3.23 Accruals Deferred income 1,439 1,440 MOVEMENT IN FUNDS Net movement in funds At 1.4.23 31.3.24 Unrestiicted funds General fund 1,015,706 (61,156) 954,550 TOTAL FUNDS 1015 706 61 156) 954,550 Net movement in funds, included in the abjve are as follows: Incoming re9)urces Movement in funds expended Unrestrirted funds General fund 121,085 (182,241) (61,156) TOTAL FUNDS 121085 182 241) 61 156) Page 9 continued...
CHRIsf CHURCH sr LEONARDS OLD BUILDINGS NOTES TO THE FINANCIAL sfATEMErirs - continued FOR THE YEAR ENDED 31 MARCH 2024 MOVEMEKf IN FUNDS - continued Comparatives for movement in funds Net rTh)vement in funds At 31.3.23 At 1.4.22 Unrestricted funds General fund 292,623 723,083 1.015,706 TOTAL FUNDS 723 083 1 015 706 Comparative net movement in funds, included in the ave are as follows: Incoming rwurces Resources exnded Movement in funds Unrestricted funds General fund 871,144 (148,061) 723,083 TOTAL FUNDS 148 061) 723,083 A current year 12 months and prior year 12 months combined position is a5 follows: Net movement in funds At 31.3.24 At 1.4.22 Unrestrirted funds General fund 292,623 661,927 954,550 TOTAL FUNDS 292 623 954 550 A current year 12 months and prior year 12 months cc¥nkn"neYl net movement in funds, included in the above are as follows: Incoming Resources exFended Movement In funds Unrestricted funds General fund 992,229 (330,302) 661,927 TOTAL FUNDS 330 302) 661927 Page io continued...
CHRIS[ CHURCH sr LEONARDS OLD BUILDINGS NOTES TO THE FINANCIAL sfATEMEKfs - continued FOR THE YEAR ENDED 31 MARCH 2024 RELATED PARTY DISCLOSURES There were no related paty transactions for the year ended 31 March 2024. Page 11
CHRIST CHURCH sr LEONARDS OLD BUILDINGS DEfAILED sfATEMENT OF FINANcfAL ACtIvrriES FOR THE YEAR ENDED 31 MARCH 2024 31.3.24 31.3.23 INCOME AND ENDOWMEiirs Donations and legacies Grants 779,783 Investment income Rentsl income Service charges Deposit account interest 20,334 90,926 20,332 63,096 253 112,637 83,681 Charitable artivities Curate's flat income Totsl incoming resources 121,085 871,144 EXPENDrruRE Charttable activities Insurance Premises expenses 4,326 167 158 4,065 127 868 171,484 131,933 Support costs Govemance costs Accountsncy Professional fees 1,440 Total resour expended 182 241 148 061 Net (expenditure)lincome 61 156) 723 083 This page doe5 not form part of the &atutory finanoal statements Page 12