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← Studland Church Lands Trust

2025-12-31-accounts

STUDLAND CHURCH LANDS TRUST

CHARITY NUMBER 1124710

TRUSTEES REPORT & UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

STUDLAND CHURCH LANDS TRUST

CONTENTS

REPORT OF THE TRUSTEES
INDEPENDENT EXAMINER'S REPORT
BALANCE SHEET
STATEMENT OF FINANCIAL ACTIVITY
NOTES TO THE ACCOUNTS
The following page does not form part of the Financial Statements:
DETAILED INCOME & EXPENDITURE ACCOUNT		 Page
1-3
4
5
6
7-8
10

STUDLAND CHURCH LANDS TRUST TRUST INFORMATION

TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2025

The Trustees present their report and unaudited financial statements for the year ended 31 December 2025 and confirm that they comply with the requirements of the Charities Act 2011, the governing document and the Charities SORP (FRS102).

CUSTODIAN TRUSTEE OF THE CHARITY The Salisbury Diocesan Board of Finance
THE BODY OF MANAGING TRUSTEES The Reverend Doctor Ian Bird - Team Rector and Chairman
Mr David Hogsflesh - Treasurer, Nominated by St Nicholas Church PCC
Mrs Barbara Matthews - Church Warden
Mr Eric Stobart - Church Warden
Mrs Diana Edmonds - Honorary Secretary
CHARITY NUMBER 1124710
SOLICITORS Humphries Kirk
Glebe House
North Street
WAREHAM
BH20 4AN
Wilsons
Alexandra House
St Johns Street
SALISBURY
SP1 2SB
REPORTING ACCOUNTANTS & INDEPENDENT EXAMINERS Harding Redmans
Accountants
Bridge House
Court Road
SWANAGE
BH19 1DX
PRINCIPAL OFFICE & REGISTERED ADDRESS The Rectory
Church Hill
SWANAGE
BH19 1HU
BANKERS Co Operative Bank
The CBF Church of England Funds
1 Angel Lane
LONDON
EC4R 3AB

Page 1

STUDLAND CHURCH LANDS TRUST

TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2025 (CONTINUED)

Statement of Trustee's Responsibilities

Charity law requires that the charity's trustees are responsible for the preparation of financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the surplus or deficit of the charity for that period.

In preparing those financial statements, the trustees are required to:-

The Trustees have complied with the duty in Section 4 of the Charities Act 2011 to have due regard to public benefit guidance published by the Charity Commission when reviewing our aims and objectives and in planning our future activities.

The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the trust and to enable them to ensure that the financial statements comply with the Charities Acts 2011.

The Trustees are also responsible for safeguarding the assets of the trust and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Governing Document and Legal Status

The Governing Document is a Trust Deed or 'Scheme including appointment of Trustees' which was approved and established by the order of The Charity Commissioners for England and Wales on 18 January 1993 for the regulation of the Charity.

The Charity registered with the Charity Commission on 26 June 2008 (number 1124710).

Investment Powers

The 'Trust Deed' authorises the trustees to make and hold investments using the general funds of the Charity and using the proceeds of sale of investment assets including properties within the Permanent Endowment Fund.

Trust Objects Organisation and Policies

The trust's income arises through investment and rental income. After applying the income to defray the costs of maintaining the trust property and costs of administration the income is applied as follows:-

  1. The establishment of a 'Fabric Fund' by the transfer of such annual sum sufficient for the repair, improvement or rebuilding of the Parish Church of St Nicholas, Studland. In so far as the fund is not applied for the purpose for which it was established, any surplus will be invested in the trust.

  2. Funds in so far as they cannot be directed into the Fabric Fund will be applied for the religious and other charitable work of the Church of England in the Ecclesiastical Parish of Studland. Any further income not so applied may be paid by the Managing Trustees to The Salisbury Diocesan Board of Finance for the creation of a separate fund to be applied for the religious and other charitable work of the Church of England in the Benefice of Swanage and Studland.

All title to the trust's assets are vested with The Salisbury Diocesan Board of Finance who act as Custodian Trustee of the Charity.

The Trustees give careful consideration to the Charity Commission's general guidance on public benefit.

The body of Managing Trustees consists of five persons, three of whom are ex-officio being the Rector of The Swanage and Studland Team Ministry and two Churchwardens of the present Ecclesiastical Parish of Studland. The two remaining trustees are nominated and appointed by St Nicholas Church Parochial Church Council for a term of three years.

At least two ordinary meetings of the body of managing trustees are held in each year.

Page 2

STUDLAND CHURCH LANDS TRUST

TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2025 (CONTINUED)

Strategic Report

Review of Activities, Achievements and Future Developments

The results for the year are shown in the Statement of Financial Activities on page 6.

The Statement shows the activities of three funds. Two of these are unrestricted in that they are for spending at the Trustees' discretion, albeit within the objects of the trust. The third is the Permanent Endowment Fund. The fund is comprised of property, investments and deposits in interest bearing accounts. The assets of the fund may be sold but the net proceeds have to be re-invested so that the fund remains intact.

This year gross income of £49,225 (2024 - £48,403) was generated from rent, dividends, interest and sundry income. Although most of the income arises from the assets in the Permanent Endowment Fund, there are no restrictions on the use of the income and it has been transferred to unrestricted funds. The significant expenditure during the year were payments of £35,000 (2024 - £70,000) to St Nicholas PCC.

During the year the market value of investments decreased by £67,695 (2024 increased by £37,890). In line with current accounting standards, these investments will continue to be valued annually. Their value at 31 December 2025 was £1,625,608 (2024 - £1,693,303).

During the year the market value of freehold properties held as investments increased by £Nil (2024 increased by £Nil). Its value at 31 December 2025 was £85,000 (2024 - £85,000).

The Trustees consider there are adequate reserves to meet the charity's objects for the foreseeable future.

Risk Management

The Trustees actively review the major risks which the charity faces on a regular basis and believe that maintaining reserves at current levels, combined with an annual review of the controls over key financial systems, will provide sufficient resources in the event of adverse conditions. The Trustees have also examined other operational and business risks faced by the charity and confirm that they have established systems to mitigate the significant risks.

Reserves Policy

It is the policy of the charity to maintain unrestricted funds at a level which equates to approximately 12 months unrestricted expenditure. This provides sufficient funds to cover management and administration and support costs. Unrestricted funds are maintained at least at this level throughout the year.

Trustees

Appointment of the Trustees is governed by the Trust Deed.

Audit

The Managing Trustees do not consider that there is a requirement to carry out an audit as required by the Charities Acts 2011 s.144.

The report was approved by the Body of Managing Trustees on 16 March 2026 and signed on its behalf:

BA Matthews - Trustee

E Stobart - Trustee

Page 3

STUDLAND CHURCH LANDS TRUST

INDEPENDENT EXAMINERS' REPORT TO THE TRUSTEES OF THE STUDLAND CHURCH LANDS TRUST

I report to the Trustees on my examination of the accounts of the above Trust for the year ended 31 December 2025, which are set out on pages 5 to 8.

Responsibilities and Basis of Report

As the Trust's trustees, you are responsible for the preparation of the accounts in accordance with the Charities Act 2011 ("the Act").

I report in respect of our examination of the Trust's accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all of the applicable directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent Examiners' 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 that 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 this report in order to enable a proper understanding of the accounts to be reached.

Bridge House MA Haigh FMAAT ATT(Fellow) Court Road Harding Redmans SWANAGE Accountants BH19 1DX 17 March 2026

Page 4

STUDLAND CHURCH LANDS TRUST

BALANCE SHEET AS AT 31 DECEMBER 2025

FIXED ASSET INVESTMENTS
Freehold Properties Held as Investments
Investments
CURRENT ASSETS
CBF Deposit Account (Fabric Fund)
Bank Current Account
LESS CURRENT LIABILITIES
Sundry Creditors - Amounts Falling Due Within One Year
NET CURRENT ASSETS
NET ASSETS
Financed by:
FUNDS
Permanent Endowment Fund - Restricted
Fabric Fund - Unrestricted
General Fund - Unrestricted
Charity Registration Number- 1124710		 NOTES
2
3
4
4
4		 85,000
1,625,608
1,710,608
28,921
17,179
46,100
762
45,338
1,755,946
1,475,070
264,459
16,417
1,755,946
2025
£		 85,000
1,693,303
1,778,303
21,090
11,529
32,619
732
31,887
1,810,190
1,532,957
266,436
10,797
1,810,190
2024
£		 85,000
1,693,303
1,778,303
21,090
11,529
32,619
732
31,887
1,810,190
1,532,957
266,436
10,797
1,810,190
2024
£
1,778,303
31,887
1,810,190
1,532,957
266,436
10,797
1,810,190

Approved by the Body of Managing Trustees on 16 March 2026 and signed on its behalf

BA Matthews Trustee
E Stobart Trustee

The notes on pages 7 and 8 form part of these accounts.

Page 5

STUDLAND CHURCH LANDS TRUST

STATEMENT OF FINANCIAL ACTIVITY (INCORPORATING THE INCOME AND EXPENDITURE ACCOUNT)

FOR THE YEAR ENDED 31 DECEMBER 2025

INCOMING RESOURCES:
CHARITABLE ACTIVITIES
Rents Received (Net of Voids, etc.)
INVESTMENT INCOME:
Dividends - CBF Investment Fund
CBF Deposit Account Interest
TOTAL INCOMING RESOURCES
RESOURCES EXPENDED
DIRECT CHARITABLE EXPENDITURE:
St Nicholas PCC Studland
OTHER EXPENDITURE:
Independent Examiners' Fees
TOTAL RESOURCES EXPENDED
NET INCOME/(EXPENDITURE) FOR THE YEAR
GAINS & LOSSES ON INVESTMENTS:
Unrealised Gains/(Losses) on Revaluation of Investments
NET MOVEMENT IN FUNDS FOR YEAR
TRANSFER BETWEEN FUNDS
TOTAL FUNDS BROUGHT FORWARD
TOTAL FUNDS CARRIED FORWARD		 General
Fabric
£
£
1,160
-
1,160
-
40,234
6,817
-
1,014
40,234
7,831
41,394
7,831
35,000
-
35,000
-
774
-
774
-
35,774
-
5,620
7,831
-
(9,808)
5,620
(1,977)
-
-
10,797
266,436
16,417
264,459
Unrestricted Funds		 £
-
-
-
-
-
-
-
-
-
-
-
-
(57,887)
(57,887)
-
1,532,957
1,475,070
Permanent
Endowment		 Total
2025
£
1,160
1,160
47,051
1,014
48,065
49,225
35,000
35,000
774
774
35,774
13,451
(67,695)
(54,244)
-
1,810,190
1,755,946		 Year Ended
31/12/2024
£
960		 Year Ended
31/12/2024
£
960
31/12/2024
£
960
960
45,952
1,491
47,443
48,403
70,000
70,000
732
732
70,732
(22,329)
37,890
15,561
-
1,794,629
1,810,190

There were no recognised gains or losses for 2024 or 2025 other than those included in the Statement of Financial Activities.

The notes on pages 7 and 8 form part of these accounts.

Page 6

STUDLAND CHURCH LANDS TRUST

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2025

1 ACCOUNTING POLICIES

1.1 General

The principal accounting policies of the Trust are set out in the following sub-paragraphs.

1.2 Accounting Basis

The financial statements have been prepared under the historical cost convention with the exception of the valuation of investment assets which are shown at market value. The accounts are in accordance with United Kingdom accounting standards FRS102, the Charities SORP (FRS102), Charities (Accounts and Reports) Regulations 2008 and comply with the Charities Act 2011.

1.3 Income

Income comprises rent receivable, bank incentive, dividends and interest received.

1.4 Administration Expenditure

Administration Expenditure is accrued in the financial statements as it arises. Prepaid expenditure is carried forward to future periods. Included in administration expenditure are routine management and repair costs. Expenditure is apportioned between funds as applicable.

1.5 Charitable Expenditure

Charitable Expenditure is included in the accounts when paid, future commitments will be included by way of a note to the financial statements.

1.6 Fixed Assets - Land

Land is stated as valued in 2021. Land values will be reviewed every five years and will be re-stated where values significantly differ from those shown in the Balance Sheet.

1.7 Fixed Assets - Investments

Investments are included in the Balance sheet at market value as at the year end. Unrealised gains and losses are accounted for in the fund to which they apply.

1.8 Going Concern

The financial statements have been prepared on the going concern basis which assumes that the Trust will continue in operational existence for the foreseeable future. There are no material uncertainties about the Trust's ability to continue.

2 FREEHOLD PROPERTIES HELD AS INVESTMENTS - HELD WITHIN THE UK

Freehold Lands were re-valued by JE Corben FSVA, FCI Arb on 6 December 2021. The valuation was made on the basis that the land would be sold freehold and not subject to onerous restrictions or reservations. The Trustees have concluded that the financial statements present fairly the Trust's financial position.

2025
£
Rectory Field (2.01 acres)
Market Value at 1 January 2025
85,000
Market Value at 31 December 2025
85,000
ED ASSET INVESTMENTS- HELD WITHIN THE UK
2025
£
Quoted Investments:
Market Value at 1 January 2025
1,693,303
Net Unrealised Gains on Investments
(67,695)
Market Value at 31 December 2025
1,625,608
Cost of 73,231.19 (2024 - 73,231.19) Units in the Investment Fund of the
Central Board of Finance of the Church of England
532,640		 2024
£
85,000
85,000
2024
£
1,655,413
37,890
1,693,303
532,640

3 FIXED ASSET INVESTMENTS - HELD WITHIN THE UK

Page 7

STUDLAND CHURCH LANDS TRUST

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2025 (Continued)

4 FUNDS

The Assets and Liabilities of the funds are as follows:-

Freehold Land at 2021 Valuation
CBF Investment Fund at Market Value
CBF Deposit Account
Cash at Bank and in Hand
Less Accruals		 General
Fund
£
-
-
-
17,179
17,179
(762)
16,417		 Fabric
Fund
£
-
235,538
28,921
-
264,459
-
264,459
 £
85,000
1,390,070
-
-
1,475,070
-
1,475,070
Permanent
Endowment
Fund		 Total
£
85,000
1,625,608
28,921
17,179
1,756,708
(762)
1,755,946

The General Fund

The General Fund is used to achieve the objects of the Trust as set out in the Trustee's Report on pages 1 and 2.

The Fabric Fund

The Fabric Fund is designated for the repair, improvement or rebuilding of the Parish Church of St Nicholas in Studland.

The Permanent Endowment Fund

Income from the Permanent Endowment Fund is restricted to the establishment of a Fabric Fund (see above) and thereafter to the religious and other charitable work of the Church of England in the Ecclesiastical Parish of Studland. Income not applied in this manner may be paid to the Salisbury Diocesan Board of Finance, as Trustee, for a separate fund to be applied for the religious and other charitable work of the Church of England in the Benefice of Swanage and Studland.

5 CONNECTED CHARITIES

The Charity is connected with St Nicholas Church PCC Studland. The Team Rector of the Swanage and Studland Team Ministry, the Reverend Doctor Ian Bird, is the chairman of the Charity. The address of the PCC remains as The Rectory, 12 Church Hill, Swanage, BH19 1HU.

Studland Church Lands Trust sets aside funds out of its income for the purpose of creating a 'Fabric Fund' for the repair, improvement or rebuilding of St Nicholas Church. It also makes further grants out of income to the PCC for religious and charitable work of the Church of England in the Parish of Studland.

During the year charitable grants of £35,000 (2024 - £70,000) were made to St Nicholas Church PCC.

6 EMPLOYEES AND TRUSTEES EMOLUMENTS

There were no employees during the year or preceding year. No Trustees have been paid any remuneration or received any other benefits and no expenses have been reimbursed.

7 NET MOVEMENT IN FUNDS FOR THE YEAR

General Fund
Fabric Fund
Permanent Endowment Fund
Total Funds
The net movement in funds is stated after charging:-
Fees in respect of Independent Examination
CREDITORS- Amounts Falling Due Within One Year
Accruals and Deferred Income		 As at
£
10,797
266,436
1,532,957
1,810,190
01/01/2025		 Incoming
Resources
£
41,394
7,831
-
49,225		 Outgoing
Resources
£
(35,774)
-
-		 Unrealised
(Losses)/Gains		 Unrealised
(Losses)/Gains		 Transfers
Between
Fund
-
-
-
-
2025
£
774
762		 As at
31/12/2025
£
16,417
264,459
1,475,070
o n Revaluation
o f Investments
£
-
(9,808)
(57,887)
(67,695)
(35,774) 1,755,946
2024
£
732
732

8 CREDITORS - Amounts Falling Due Within One Year

Page 8

STUDLAND CHURCH LANDS TRUST

The following page does not form part of the Financial Statements:

STUDLAND CHURCH LANDS TRUST

DETAILED INCOME & EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2025

INCOME
Rents Receivable
Field Rent
1,160
Income from Quoted Investments:
CBF Investment Fund - General Fund
40,234
CBF Investment Fund - Fabric Fund
6,817
Interest Receivable:
CBF Deposit Account
1,014
GROSS INCOME
49,225
LESS EXPENDITURE
Administration
Independent Examiners' Fees
774
Charitable Grants:
St Nicholas' Church PCC
35,000
TOTAL EXPENDITURE
35,774
NET INCOME OVER EXPENDITURE/(EXPENDITURE OVER INCOME) FOR THE YEAR
13,451
Revaluation of Investments
Surplus/(Deficit) on Revaluation of Investments - Permanent Endowment
(57,887)
Surplus/(Deficit) on Revaluation of Investments - Fabric Fund
(9,808)
(67,695)
Reserves Brought Forward 1 January 2025
1,810,190
RESERVES CARRIED FORWARD 31 DECEMBER 2025
1,755,946
2025
47,051
£		 960
39,294
6,658
1,491
48,403
732
70,000
70,732
(22,329)
32,400
5,490
37,890
1,794,629
1,810,190
2024
45,952
£		 960
39,294
6,658
1,491
48,403
732
70,000
70,732
(22,329)
32,400
5,490
37,890
1,794,629
1,810,190
2024
45,952
£
48,403
70,732
(22,329)
37,890
1,794,629

Revaluation of Investments
Surplus/(Deficit) on Revaluation of Investments - Permanent Endowment
Surplus/(Deficit) on Revaluation of Investments - Fabric Fund
Reserves Brought Forward 1 January 2025
RESERVES CARRIED FORWARD 31 DECEMBER 2025
1,810,190

Page 10