Registered Charity Number: 1144283 THE JAMES ALFRED AND EMMA CLARA HALL FUND FINANCIAL STATEMENTS 31 DECEMBER 2024
THE JAMES ALFRED AND EMMA CLARA HALL FUND FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2024 CONTENTS PAGE Details of trustees and advisers Trustees, annual report Independent Examiners, report Statement of financial activities Balance sheet Notes to the financial statements 8-14
THE JAMES ALFRED AND EMMA CLARA HALL FUND DETAILS OF TRUSTEES AND ADVISERS Managing trustees: The Revd L F Davis Vicar of St Andrew's Church Msmswa Churchwarden of St ArKlreWs Churth Mrs C J Callen Mr l Riches Churchwarden of St Andrew's Church Custodian trustee: The St Albans. Diocesan Board of Finance Officers Mr R C Levene, Treasurer Mrs P H Wilkie, Secretary Mr A Colley. Advisor Principal address St Andrew's Church Kimbolton Road Bedford MK40 2NQ Independent Examiners Victoria Moore FCCA MDG Business Associates Limited Chartered Accountants & Registered Auditors Roorn 73, Wrest House Wrest Park Silsoe Bedford MK45 4HR Bankers The Central Board of Finance of The Church of England 85 Queen Victoria Street London EC4V 4Er
THE JAMES ALFRED AND EMMA CLARA HALL FUND TRUSTEES ANNUAL REPORT YEAR ENDED 31 DECEMBER 2024 The trustees present their report and the financial statements of the charity for the year ended 31 December 2024. which have been prepared in accordan with the Trust Deed. The trustees have adopted the provisions of Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in aordanCe with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). LEGAL AND ADMINISTRATIVE INFORMATION The Trust was created by the will of the late James Hall who died in September 1962. By the terms of the Trust Deed, income accumulated for 21 years until 1983. Upon the death in August 1997 of James Hall's daughter, Miss Edith Winifred Hall, the accumulated capital was transferred to the James Alfred and Emma Clara Hall Fund. The income is now available to fund the charitable objects of the TrusL The charity exists in order to apply its income for the following, as the trustees in their absolute discretion think fit:_ extensions to St Andrews Church, Bedford and for maintaining the fabric of the building. maintaining the Garden of Rest" 3. the relief of povety of the elderly in the Parish or of those connected with the Church, and 4. the general religious purposes of St Andrew's Churth. We confirm that we have referred to the guidan given in the Charty Commission's general guidance on public benefit and give full regard to the public benefit when reviewing, planning and implementing our objectives and aims. I trustees are appointed ex officio. The capital is held on behalf of St Andrevls Church by St Alban's Diocese as custodian trustee.
THE JAMES ALFRED AND EMMA CLARA HALL FUND TRUSTEES ANNUAL REPORT YEAR ENDED 31 DECEMBER 2024 ACTIVITIES AND ACHIEVEMENTS At the year end the accumulated capital forming the Endowment Fund amounted to £4.94 million (2023 - £4.81 million). Grants were awarded to St Andrew's Church Parochial Church Council amounting to £117,297 (2023 £113,098) with total expenditure for the year of £122,215 (2023 £108,163). This was in order to support the parish workers and various repairs and replacements to the church complex. INVESTMENT POLICY It is the policy of the trustees to invest the assets of the charty in the CBF Church of England Funds. The assets are spread across the deposit, the fixed interest securities. the share-based investment and the property funds offered by the CBF Church of England Funds. These fvnds are specifically designed for such holdings. GRANT MAKING POLICY As determined by the Trust Deed, the trustees award grants only to the parish and parishioners of St Andrew's Church, Bedford. RESERVES POLICY The trustees consider that the resenies are adequate to meet the needs of the charity as they provide the core commitment for the coming year, which commitments are under review. As the charity is a grant making organisation it is able to adjust its expenditure to keep within its income from time to time. The charity relies on the continuing voluntary commitment of the trustees and offIrS.
THE JAMES ALFRED AND EMMA CLARA HALL FUND TRUSTEES ANNUAL REPORT(¢onVnued) YEAR ENDED 31 DECEMBER 2024 THE TRUSTEES The trustees who served the charty during the year were as follows: Revd L F Davis Mrs C J Callen Mrs C G Wood- resigned 21 April 2024 Mr l Riches Ms M Swales - appointed 21 April 2024 TRUSTEES. RESPONSIBILITIES The Charities Act requires the trustees to prepare financial statements for each financial year which give a true and fair view of the stste of affairs of the charity at the end of the year and of the incoming and outgoing resources for the year then ended. In preparing those financial statements, the trustees are required to select suitable accounting policies and then apply them consistentty. making judgements and estimates that are reasonable and prudent. The trustees must also prepare the financial statements on the going concem basis unless it is inappropriate to presume that the charity will continue its activities. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements cornply with the Charities Act 2011. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Signed on behalf of the trustees Mr l Riches Approved by the trustees on .
THE JAMES ALFRED AND EMMA CLARA HALL FUND INDEPENDENT EXAMINERS. REPORT TO THE TRUSTEES OF THE JAMES ALFRED AND EMMA CLARA HALL FUND(continued) YEAR ENDED 31 DECEMBER 2024 I report on the accounts for the year ended 31st December 2024 set out on pages 6 to 14. Respective responsibilities of trustees and examiner The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year (under Section 144(2) of the Charities Act 2011 (the 2011 Act)) and that an independent examinats'on is required. It is my responsibility to: -examine the accounts under Sectlon 145 of the 2011 Act -to follow the procedures laid down in the General Directions given by the Charity Commission (under Section 145(5)(b) of the 2011 Act). and -to state whether particular matters have come to my attention. Basis of the independent examinerfs report My examination was carried out in accordance vlith the General Directions given by the Charity Commission. An examination indudes a review of the accounting records kept by the charity and a comparison of the accounts presented wth those records. It also includes consideration of any unusual items or disclosures in the accounts. and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fair view ' and the report is limited to those matters set out in the statements below. Independent examiner's ststement In connection with my examination, no matter has come to my attention: { l ) which gives me reasonable cause to believe that, in any material respect, the requirements -to keep accounting records in accordance with Section 130 of the 2011 Act; and -to prepare accounts which accord with the accounting records and to compty wth the accounting requirements of the 2011 Act have not been met: or {2) to which. in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. Victoria Moore FCCA MDG Business Associates Limited Chartered Accountants Room 73, Wrest House Wrest Park Silsoe Bedford MK45 4HR 251091202
THE JAMES ALFRED AND EMMA CLARA HALL FUND STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 DECEMBER 2024 Unrestricted Endowment Funds Funds 2024 2024 Total Funds 2024 Total Funds 2023 Notes Incoming resource5 Investment income Total Incoming resources 997 997 143,581 143,581 144,578 141,115 144,578 141.115 Resources expended Charitable expenditure: Costs in furtherance of charitable objects Management and administration Total Resources expended 121,285 930 122,215 121,285 106,963 930 1,100 122.215 108,063 Unrealised and realised gainsl(losses) on investments 3,462 128.427 131,889 399,438 Net resources for the year before transfers (117,756) 272,008 154.252 432.490 Transfer between funds 143,581 (143,581) Net movement in funds relating to the year Balances biought foThvard Balances carried forward 25,825 128,427 154,252 432,490 231,359 257,184 4,815,863 5,047,222 4,614,732 4,944,290 5.201,474 5,047.222 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derives from continuing activities. The notes on pages 8 to 14 fomi part of these financial statements.
THE JAMES ALFRED AND EMMA CLARA HALL FUND Balance Sheet 31 DECEMBER 2024 2024 2024 2023 2023 Notes FIXED ASSETS Investments - Capital Funds Investments - Income Funds 4,944,290 154,735 5,099,025 4,815,863 151,273 4,967.136 CURRENT ASSETS Debtors Cash at bank 36,557 67,896 104,453 38,980 42,206 81,186 CREDITORS: Amounts falling due within one year 2,004 1,100 NET CURRENT ASSErs 102,449 80,086 NET ASSETS 5,201,474 5,047,222 FUNDS Unrestricted Income Endowment TOTAL FUNDS 10 11 257,184 4,944,290 5.201,474 231,359 4,815.863 5.047,222 These financial statements were approved by the trustees on the . THE REVD L F DAVIS I RICHES The notes on pages 8 to 14 fomi part of these financial statements.
THE JAMES ALFRED AND EMMA CLARA HALL FUND NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2024 1.ACCOUNTING POUCIES Basis of accounting 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),, as amended by Update Bulletin 2 published in October 2019, and the Charities Act 2011. The financial statements have been prepared under the historical cost convention. Investment assets and income Investments are shown at market value. Realised and unrealised gains and losses in the year are shown in the statement of financial activities. Gains and losses are calculated at the basis of the previous balance sheet valuation or the purchase cost whichever is lower. Investment incorne is credited to the year to which it relates. Tax edItS are matched to the year in which the investment income is credited. Grants and other expenditure Grants and other expenditure are charged to the Statement of Financial Activities on an accruals basis. Fund accounting Unrestricted funds can be used in accordan with the charitable objectives at the discretion of the trustees. Only the income from the Endowment Fund, which is transferred to the Unrestricled Fund each year. can be spent. though it is possible to boOW monies from the Endowment Fund with special permission from the Charity Commissioners. Further explanation of the nature and purpose of each fund is included in the notes to the financial 2.CONNECTED CHARITIES The James Alfred and Emma Clara Hall Trust has some trustees who are also members of the Parochial Church Council. During the year grants amounting to £117,297 (2023 - £113.098) were awarded. 3.INVESTMENT INCOME Unrestricted Endowment 2024 2023 Interest CBF Fixed interest securities fund CBF Property fund CBF Investment fvnd CBF Global Equty fund 997 997 2,190 5.846 5,846 4,635 13,789 13.789 13,519 110,558 110,558 107,646 13,388 13,388 13.125 143,581 144,578 141.115 997
THE JAMES ALFRED AND EMMA CLARA HALL FUND NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2024 4.COSTS IN FURTHERANCE OF CHARITABLE OBJECTS Unrestricted Endowment Total Funds Funds Funds 2024 2024 2024 Total Funds 2023 Provision of charitable services: Grants for Ministry Grants for Administrative support Grants for Church enhanrnents 47,784 66,700 6,801 121,285 47,784 36,695 66,700 61.067 6,801 9,201 121,285 106,963 Analysis of provision of charitable services: 2024 2023 Grants for Ministry Youth Worker Verger Music Director Locum Organists Choristers 28,691 18,963 7,143 6,569 11,208 10,410 510 395 232 358 47,784 36,695 Grants for Administrative Support Centre Manager Administrative Assistant Caretaker Cleaner Employer's National Insurance Employer's Pension Contributions Recruitrnent Expenses Payroll, IT, Printing and Training Money Advice Administrative Assistant SMP & ShPP 30,432 28,290 9,956 15.600 6,275 658 3,002 10,536 13,860 5.729 1,037 1.903 90 216 720 (1,314) 66,700 61,067 777
THE JAMES ALFRED AND EMMA CLARA HALL FUND NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2024 Grants for Church EnhanrnentS 2024 2023 Solar Panels Replacement pathway Gable End 6,196 3.005 6,801 6,801 9.201 Unrestiicted Endowment Total Funds Funds Funds Total Funds Examination fees Lloyds Compensation 1,080 (150) 930 1,080 (150) 930 1.100 1,100 6. TRANSFERS BETWEEN FUNDS The capital of the Trust has arisen from Ihe accumulation of the legacy frorn the estate of James Alfred and Emma Clara Hall and is held by the trustees as a pemianent Endowment Fund. The income from this Fund is transferred to the Unrestricted Fund each year. Unrestricted Endowment Total Total Transfer of expendable Endowment income 143.581 (143,581)
THE JAMES ALFRED AND EMMA CLARA HALL FUND NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2024 7. INVESTMENTS a. CAPITAL FUNDS Movement in market value 2024 2023 Market value at 1 January 2024 Net gains on revaluations in the year ended 31 December 2024 Market value at 31 December 2024 4,815,863 4.424.317 128.427 4,944,290 391,546 4,815,863 Historical cost at 31 Dember 2024 2,415,679 2,415,679 Analysis of investments at 31 December 2024 Totsl Funds 2024 Total Funds 2023 CBF fixed interest securities fund CBF property fund CBF investment fund CBF Global Equity fund Cash on depostt 222,978 255.825 3,901,105 563,446 936 4,944,290 216,444 254,413 3,813,813 530,257 936 4,815,863 Historical cost at 31 December 2024 2,415,679 2,415,679 b. INCOME FUNDS invested in CBF investment funds 2024 2023 Market value at 1 January 2024 Purchases Net gains on revaluations in the year ended 31 December 2024 Market value at 31 December 2024 151,273 38,381 105,000 3.462 154,735 7,892 151,273 Historical cost at 31 December 2024 125,578 125,578 8. DEBTORS 2024 2023 Debtors 36,557 38,980 Debtors represent interest and dividends re1vable on funds invested.
THE JAMES ALFRED AND EMMA CLARA HALL FUND NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2024 9. CREDITORS: Amounts falling due within one year 2024 2023 Accruals pcc 1,100 1,100 2,004 1,100 10. ANALYSIS OF NET ASSETS (between restricted and unrestricted funds) Other net assets 2024 Total Total 2024 2023 Unrestricted Income Fund 257,184 257,184 231,359 11. ENDOWMENT FUNDS Balance at 1 Jan 2024 Incoming & Outgoing & Revaluations Transfe Balance at 31 Dec 2024 Permanent endowments Endowment Fund 4,815.863 272,008 {143,581) 4,944,290 12. ANALYSIS OF NET ASSETS BETWEEN FUNDS Unrestricted Endowment Funds Funds Total Funds Total Funds Investments Debtors Cash at bank Current liabilities 154,735 36,557 67,896 (2,004) 257,184 4.944,290 5,099,025 36.557 67,896 {2,004) 5,201,474 4,967,136 38,980 42,206 (1,100) 5,047.222 4,944,290
THE JAMES ALFRED AND EMMA CLARA HALL FUND NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2024 12. FINANCIAL COMMITMENTS The Trust has no paid employees. However. in the past it has commrtted to supporting the cost of certain employees of St Andrew's Church PCC. The commitment for all these posts amounted to an estimate of £114.500 per annum in the year to 31sI Dember 2024. This arrangernent has been reviewed with the PCC and with effect from 1st January 2025 the commitment will be by way of a fixed grant. Any underspend in that sum will be taken into account when agreeing the grant for the following year. 13. CONTINGENT UABILITIES The Trustees confirtn that there are no contingent liabilities to report as at 31 December 2024. (2023 - £Nil). 14. TRUSTEES, REMUNERATION AND RELATED PARTIES The trustees received no remuneration or other benefits in the year from the Fund (2023 £Nil). There were no trustees, expenses paid in the year by the Fund (2023 - £Nil). Other than those specifically disclosed in the notes to the financial statements there were no other outstanding balances with related parties as at 31 December 2024 (2023- £Nil).
THE JAMES ALFRED AND EMMA CLARA HALL FUND NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2024 15. COMPARATNES FOR STATEMENT OF FINANCIAL ACTMTIES Unrestricted Endowment Funds Funds 2023 2023 Total Funds 2023 Incoming resources Investment income Total Incoming resources 2.190 2.190 138.925 138.925 141,115 141.115 Resources expended Charitable expenditure: Costs in furtherance of charitable objects Management and administration Total Resources expended 106.963 1,100 108,063 106,963 1,100 108,063 Unrealised and realised gains on investsnents 7,892 391,546 399,438 Net resources for the year before transfers (97,981) 530.471 432,490 Transfer between funds 138,925 (138,925) Net movement in funds relating to the year Balances brought forward Balances carried fop4vard 391,546 432.490 190,415 231,359 4,424,317 4,815.863 4.614.732 5,047,222