ANNUAL REPORT and ACCOUNTS For the YEAR ENDED 31 MARCH 2024 FOR JOHN BEANE'S CHAIUTY CIO Reglstered Charlty Number: 1161716
IOHN BEANE'S CHARITY CIO CONTENTS OF THE ACCOUNTS For the Year Ended 31 March 2024 Page Number Annual Report and Accounts Independent Auditor'5 Rewrt 7-9 ststement of Financial ACtiVitS io Balance Sheet li Notes to the financlal Strtements 12-18
JOHN BEANE'S CHARITY CIO ANNUAL REPORT and ACCOUNTS For the Year Ended 31 March 2024 LEGAL AND ADMINISTrATIVE INFORMATION Name and RegSstered Number of Charity John Beane's Charity CIO no is 1161716 Appointment of Trustees There are slx Trustees appointed. Three representing txjrknng United Reformed Church and three representing Guildford United Reformed Church. Trustees when appolnted remaln In situ untll they resign, die or are no longer eligible to st3nd at which strdge the remaining Trustees from the approprbate Church brlng to the body of Trustees a replacement narne for consideration. Scope of Report and Accounts This report and the annexed accounts relate to the operations of John Beane arity Bs shown wf(hin the accounts of John Beafie's Charity CIO. Governing Document John Beane s Charity Cto operates under a new ctsnsbttrtqon document dated 4th Marth 2016. Name of Trustees The Trustees during the year were.. Dr Tudor Ewart Thomas JP Bsc PhD (Chairman) Mrs Diana Elizateth Ferguson Mrs Jennifer Elizabeth Green Mrs Pamela Mary Hosegood Mr Leie John Mchell Mr Derrick Morrison Clerk and Principal Address Clerk to the Trustees is: Mrs Nicola M Willshbre Principal Addre55 15: 26 Brocks Drlve, Falrlands, Gull(Iford. GU3 3NQ other RelevJnt Oryanlsatlons or Persons s0ucrr0.' Penningtons Manche5 Ccoper 31 Chertsey Street, Guildford. GUI 4HD CONSULTANT PROPERTY MANAGER.. Guy Joseph Joseph Jsmeson Evans Limited 4, 20 Streatham Cornmon Noth London SW16 3HJ
JOHN BEANE'S cHARy Cto ANNUAL REPORT and ACCOUNTS (Contlnued) For the Year Ended 31 March 24 Other Relevant Oryanlsatl¢)ns or Persons (contlnued) INVESTMENT CONSULTANT Jeremy Barker Cazenove Capital l London Wall Place London EC2Y SAU INDEPENDENT AUDITOR ¢J)ambedains Chartered Accountants Registered Auditors Elm House Tanshire Park Elstead Surrey GU8 6LB BANKERS C4F Bank Ltd PO Pox 289 West Malling Kent ME19 4TA Voluntary Services etc The Charity is not dependent upon the senrices of volunteers (cther than the input of the Trustees themselves), donated facilities or ServiS, though the Trustees rtcognise and appreciate the fees charyed to the Charity for management and professional services may refiect concesgons. The Trustees have not reiVed any remuneration or benefits from the charity. Spedflc Investment Powers The constitutlon empowers the Trustees to deleg*e the management of the Charity5 investments to professional investment managers. All Snvesiments hekl by the Charity have been acquired in accordance wf(h the powers avallable to the Trustees. Independent Auditor It Is proposed that Chambedains be reappolnted at the Annual General Meetlng.
JOHN BEANE'S CHAFirrY cto ANNUAL REPORT and ACCOUNTS (Contlnued) For the Year Ended 31 March 2024 NARRATIVE ZNFORMATION Oripln and Historital Review The Charity wa5 founded Sn 1772 on the cath of the Reverend Jthn eeane, who left in tnL5t two fwm5 at Tunbridge and £800 in cash to be apJled partly to the DIentIng (non-conformist minlsters at Dorking and Guildfordl and paruy to the relief of the needy in Dorking and Guildford. There is knowledge of how the Charlty operated In the flrst 30 years. In 1802 there was 3 new trust deed that eskb1l5h one third of the Income after pIng all expenw should be pad to the Congregalonal mlnlster at Doikiiigi a Imilar sum to hls colleague at Guildford, ènd the other third to be paid at the discretion of Yie Trusiees to pcor inhabitants of Lrkng and Guildford and elsewhere the Ndmlnlsts3tlve County of 9Jrrey. The Tnjstees, In the mld-1800's, adoled the pollcy of Invesung avallable fijnds ground rents In London so that when the 99 year l&se expifed, the woperties ctsJld rev to the Charity. Income inueased rajdly, so much so the Charity Commissioners consented to the accutnulation of part of the inccthe vthlle a new Scheme was drawn up to replace the one then in for, th15 was approved In 1908 and varied in 1962. A new scheme was appr¢ved by the Chartty ComrnSssSoners In Aprfl 1981, which extended the giant-making poweis of the Trustees. In 1988 the Trustees declded r( would be advèntageous to hève the Charitys investsnents profesOnallY managed and in 1990 the Charity COMMI70ners approved a supplement to the Scheme authorigng this. In 2015 the Trtee$ fett It corrett to ava1 themsdves of new le01atIon avallable partlcularly as they were reswr61ble for propertles and Y)È lettlng thereof. on the 4th March 2016 the Chèrlty and aoCIated eoSYnary charitie5 were amalgamated into John Beane Charity contro]led and reported as John 8¢an¢s Charity CIO. Appllcavon of tnci>ma Under the constition of John Beanes Charity ao the objects are -. l. AUgMents0Th of the pendS af the Ministers of the Urited Reform thurthes in D(Nldng ènd Gulldford. 2.Augfflentstion of the stipends C Ministers of any other UnSted Refomed or Congregètional Church in the the area of benefit. wfv.th is defineo as the AdminSthtive County of Surrey as at the d3te of the constituti 3,To relieve the rEed retlred Mlnlsiers of Unlted Refomed Churches In L)knng Gulldford or such of their widows as are In need 4.To relIe the need clthose Sn the administrative area of Surrey. 5.To VanCe the Chrfstlan rdlglon and other charitable purposes r the Untsd Reformed a)urthes or the CgregaOnal Churches In the area of beneflt as the Trustees think fit. The Charity is dependent on the deployment of its assets for its income,. it 15 not a fund-raIng Charity. The alm of the Trustees Is to preserve and, if posslble, enhance the Charity's cajtsl and IncJne In real ttrms. The Trustee5' wopety holdSros are managed by a Conltant rVeyor. They welcome the Incclne eld from the property and C$der It prudent for a %gnificant propothon of the endowment to be In tangible assets.
JOHN 8EANE5 CHARrrY cto ANNUAL REPORT and ACCOUNTS For the Year Ended 31 March 2024 Alms and Pollcl•s of Trust•qs (contlnued) The po51t1 of the and Gulldford Ministers has been perVed as thelr grants have been Ilnked with amunts payable to thelr predewsors under the supeiseded scheme. increased LK-oadty in line with inflatlon. AJI other Mlnisters that quallfy for gTrnts receive a lower sum than the amount given to Dorking and Guildford Minister& Ministers r&por6lble for more than one (Jurch one of whlch is outside the area of benefil receive income prrata to the metnbership of the church within the breè of benefit to the overall membershlp of the churthes Involved at the date of appolnfftnL part-b.me Mlnlsters a150 refve grants wrata. Grants we glven to rered mlnisters from Dorking and Guildfd uned RefornEd Churche5 and others who reb.re from the In the area of benefit but still serfft the needs of the churches In the area of benefit. Oiher are glven to Churches who are athvew devdoplng cutread) or developlng thdr proFetVes for the benefit of the community and adherents. Publlc Ben•fit Grants to those In ed are reviewed by Trustees before a grant is glven wilh ajl grants glven being then pproved at a full meeting of TrLL%tees. In the year to 31. March 2024, 336 grants were given12023.. 2471. Reserve Pollcy The Tnthes hang consldered all mètters appertalnlng to the Charlty feel they would be fèlling In thelr duty If Insufficient funds were not availalle for distributlon in any year. Therefore they have deided they should retaln as a Strategic reserve a sum equal to apprommately one yeays expenditure by of grant Revlew of Year$ Artlvltleg During the year three meetings of Trustees have taken place. FINANCIAL INFORMATION F9rm Jnd Content of AccoLmts The flnanoal ststements have been prepared.. in accordance with the accountlng pollcles set out In notes to the financial statements and b. Accounbng and Rerorting by chariti.. Ststement of Recommended Pr3rtiTr applicable to charltSes preparing their accwnts in accordance with the Financial Reporting Standard applicable in the UK and RepU1C Ithe"Charitie5 SOR The trustees have had regard to the chlty Cunmis5ion's guldance on puNlc benefit. In meeting the statutory requirements, the a)arity'5 acccunts cornply with the releVt requirements of gownlng dc(umenL Thls report is confinej to an overyiew of the flnanclal perf0mlan In the year under rewew, and of e posltiLm at 31° Narth 2024.
JOHN BEANE'S CHARrrY CIO ANNUAL REPORT and ACCOUNTS {Continued} For the Year Ended 31 March 2024 FINANCIAL INFORMATION (Contlnuod) statement of Financial Actlvlties The openlng balan at l April 2023 on the General Fund was £95,790. Incorne amounted to £368,127 compared with £371,430 in the previous year. Expenditure by General Fund arnounted to £218,308. These activities rUlted in the net resourtrs being IncSed by £149,819. A further £80,000 wa5 transferred to the Designated Fund for property malntenance ènd £111,587 to the restrtcted fund for those in need. After tsklng Into account the posStive movement in investments during the year of £65,801, there is an increase In the General Fund of £24,033 leaving a balance carried forward of £119,823. Durfng the year £67,935 has been spent on property milntenance, whlch after reCeIllg a transfw of £80,000 leaves a balance carried forward of £73,223 In the Deslgnated Fund. The Endowment fund openlng balance was £7,343,425. The propee5 known as Abbeville Nansions revaluation value has been updated, leadlng to a positlve Increase of £898,393. A transfer of funds to the Restricted Fund £467,358 has been made to appropriately allocate funds, leon9 a closing balance of £7,775,000. The Restricted fund orening bjlance wa5 £1,696,949, with expendlture In the year on In Need Grants of £96,436 and a transfer from the General fund of £111,587 and Endowment fund of £467,358. During the year there was a posltive Increase in the investments of £IOO,898, leaving a bdantt of £2,280,356. The In Need fund opening balan was Q06,261. Durlng the year grants were gwen ts 336 people amountlng to £96,436 and the one third traner into thls fund as at 31 March 2024 was £111,587 knving a balance in this fund at the year end of £321,412. Balance Sheet Total net assets at 31 March 2024 were £10,248,402 an increase of £1,051,080 on the totsl net assets at 31 March 2023. Conclusign The Trustees reaffimi their vlew, namely ttrEy consider the Charity's finances are sound, they cons5der the charity to be a going concern and they enable the future to be faced with confidence with actlvltSes conb"nulng as In the pa*. nalty, the Trustees are pleased to record their thanks to the a8rk, ProrRrty Manager , Property Consukant and Investrnent Manager for their service5. This annual report was approved by the Trustees at a meeong on 19 July 2024. (signed) Tudor E Thomas (signed) 4LL)- fj. fa
JOHN BEANE'S CHARrrY CIO ANNUAL REPORT and ACCOUNT5 (Continued) For the Year Ended 31 March 2024 ATEMENT OF TRusfEES' RESPONSIBIUTIES IN RESPECT OF THE ACCOUNTS The Trustees are responsible for preparing accounts for each financial year, which give a true and fair view of the 5tste of affairs of the charity and of the income and expenditure of charity for that pericé, In preparing those accounts, the Trustees are requlred to;
Select sukable accounting policies and then appty them ccknsistently Observe the methods and prlnclples In the Charities SORP Make Judgements and esbmates that are reasonable and prudent state whether appllcable UK Accounting Stsndards have been followed, subject to any material depareS disclosed and explained in the financial statements Prepare the accounts on the going COnrn bas5 unle55 it 15 inappropriate to presume that the charity will continue The twstees are responsible for keeping adequate accounbng records that disc105e wlth reasonable accuracy at any time the financial position of the charity and enable them to enre that the financial statements comply with the charib.es Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the a55ets of the charity and hen for tsking reasonable steps for the prevention and detection of fraud and other irregularities, In so far as the trustees are aware.. there Is no relevant audtt informatlon of whlch the charttys auditor is unaware,. and the trustee5 have tsken all steps that they ought to have tsken to make themselves aware of any relevant audit informthon and to estsblish that the auditor is aware of that informadon. The trustees are ponable for the rnaintenance and Integrlty of the charity and financial information induded on the charlty's webslte. Leglslation In the United Kingdom gtsverning the preparation and dissemination of financial 5tètements may dlffer frcAn legi4ation in other jurisdiction5.
JOHN BEANES cHARy CIO INDEPENDENT AUDITOR'S REPORT TO THE TRusfEES OF JOHN BEANE'S CHARITY CIO For the Year Ended 31 March 2024 Oplnlon We have audited the flnancial stslements of John Beane's Charty Cto (the'charlty) for the year ended 31 March 2024 whlch comprise the Ststement of Financial Activit1, Balance Sheet and notes to the financial statements, including a summary ol sgnificant accountlng polici&. The financial reportlng framework that has been applied in their preparation E applicable law and Unf(ed Klngdorn Accounting Standards, Including Financial Reporting Standard 102 7he Flnanclal Reportlng Standard appllca£Jle In the UK and Republtc of Ireland (Untted ngdM Generalty Accepted Accountlng prCe). In our opinion, the financlal statements.. give a true and fair wiew of the stste of the charify's affalrs as at 31 March 20234and of Its IrnIng resources and applicayon of resources for the year then ended. have been prowrty prepared In accordance wlth Unlted Kjngdcffl General Accèpted Accountlng prac,. and have been prepared In aCcOrdae wllh the requirements of the chare$ Act 2011. Basis for oplnlon We conducted our audti in accordance with Internatlonal Stsndards on Audfig (UK) IISAS (UK)) and appllcab w. Our responsibiliti under the standards are further described in the Auditor's resporGibilltles for the audit of the financial Statements sectlon Df our report. W& are independent of the charity in accordance wth the ethical requirements that a relevant to our audit of the financial statements in the UK, including tt)e FRCS Ethkal standard, and we have fu111ed our other ethlcal rnSilYI in atcordance th th&e requirements, We believe that the èvdf( evidenTr we have obtalned Is sufficient and appropriate to provide a basts for our OFAnlon. Conduslons relafjn9 to goin9 ¢oncem In aUding the flTranual statements, we have concluded that the trustees, use of the going concem basb of accounting in the preparation of the flnancial ststements appropriate. 8ased on the work we have performed, we have not ideiitifled any materlal Unrtain"eS relating to events or conditions that, indNidually or collectwety. may ost $gnificant dcyjbt on the charltys aknlity to continue as a going concern for a peAfA of at least tWee months from when the financlal ststements are authorised for15sue. Our responlblllues and the resWns5biles of thé trustees wlth respett to golng concern are descrlbèj In the levant sectlons of thi5 report. Other Informlon The other Snformatlon cornprbes the inforrnatlon Included In the annual pOrt other ttrn the flnanclal Statnents and our auditorfs report thereon. The trustees are responslble for the other informatlon contalned within the annu31 report. Our opinion on the fhanclal statements does not cover the other inforrnation and, except to the extent otherwi* explicit stated In our report, we do not express any form of aul7nCe ConCln therwn. Our re5pon4bility is to read the other Information and, in doing so, consider whether the other inlorTnation is materlally Inconslstent wlth the ftnanclal statements or our knowledge obtained In the course of the audit or otherwise appears to be materially misstated. Ir wè identify suth materkl InconsSstencl& or apparent materlal misststernents, we are required to deterrnine whether th& gives rlse to a material Mitement in the financial 5tstem&)ts themsefves. If, based on the work we hawe perforned, we conclude that there is a material misststement of this other inforrnation, we are required to report that fact. We have nothing to report in this regard.
JOHN BEANE'S CHARrri cio INDEPENDErir AUDrroRS REPORT TO THE TRusfEES OF JOHN BEANE'S CHARrrf cxo For the Year Ended 31 March 2024 Matters on %Yhich we 4re reyulred to report by exceptioft We have nothin9 to report In resrott of the followlng matters In relation to whld) the Charlbes (Accounts and Reports) Regulations 2008 require to report to YDV rf, in our up]nlon: trÉ Informab"on gen in the trustees, rep Is inconsskent in any material respett wlth the flnancial statsm)ts,' or ffiuent accounting records have not en kept. or the finanoal statements ère not in agreement wth the accounting records and returns,. r we have not received all the information and e¥planatn$ we reqre our audit. Rwonglbllluej of tstee5 As e¥plalned fully In the trustees, respoll51bilitie5 5tstement set out on ge 7 the trustees are responsible for the preparatlon of the finanoal statements and bryJ Sa$ed that they glve a true and falr vlew, for such irrteriia contfol as the trustees determlne is nec£wry to enable the weparation of finatKial statemthts that are tree from material misstatemenL wF£ther due to fraud or error. prering the financial st3temaits. the trustee5 are respOntIe for a55etyng the charty's ablllty to conunue as gixng cLNceffl, dixlosng, as applicab, mets related to going concem and uslng the 9)ing concem baas of accounting unless the trustees either Iniend to liquidate the charity or to ttase Oatrs, or have rm) lIst allernative but to do so. Audltor's respon81blll¥e8 for the audlt of th flnonclal ststm•nts We have been appoiTrled a5 auditor under section 145 of the Charitles Act 2011 report in accordance with the Act and rel¢vant regulatims rnade or havlno effett theieunder. Our ObJt5 are to ca)laln rea9)nable assurantr about whetlier the financial statrments a5 a whole are free from materlal rnlsststemenL whelher due to traud or error. and to ]Sse an auditor's report that indudes our oplnion. Re350nable aUTrTe 15 J high level of aswraTh, but Ls not a grantee that an audYÉ conducted In accordan Wth ISA5 IUV will always detert a material mlsstatement when It exsts. Misstatements arise from frdvd or error and are considered Mateal if, Indiwdually or In the aggregate, they could reasonably be expected to Influen ihe econoniic de0&S of users tsken on the basi5 of these finanoal statements. The engagem partrEr ensured that the engagement team collVely had the appropriate ctmpet)ts. capabilitle5 and sklls to identify or recognise non-CoMlance wrh applicable laws and regulatyon& We Identified the laws and regulatlons appllcatle to the company throtyh dUs&Of 1th directors and other nagemnt, and from our commeicial knowledge and expernce of sector. We focused on specffic laws and ulaiions whlch we cOlJe[ed may have a dSrert materSal effett on the financial staterts or the operations of the company. We a55e55ed the extent of IOTllpliJn wth the law5 8nd reoul*lons Identified above throu) making erquiries of ManageMEL., and Ideniified laws and reguktions were communltsted withln tre audkt te3m regularfy and the team remaned alert to Instan of non-comp11ae throughout the aud We assessed the suscept'bility of the companvs finanaal statements to rn3terial rnis5tatement, inclu(fing obtaining an undersTrAndlng of how fraud mlght occur, by Man9 enqulries ot manement as to Whe they conydered trÉre was susceptibillty to fraud, thelr krH)wledge of actual, speCted and fraud.. and ConSer1 the intunal Ccffttrds in platr ro mitlgate of fraud and nM"compliance laws and regulations. To addr ihe rlsk of fraud through rnanagefllent bla5 and overrfde of contro&, we perforTTEd analytical prOdre5 to ideniify ony unusual unexpect& relationships, tested journal eniries to idenbfy unusual tranOn5. assessed wthether Judganents and assumptions made In delermlning the accounbng esttmates were InOltst5ve of potentSal blas; and InVegated the ravonale behlnd agnlfjc3nr or unusual transactlons.
JOHN BEANE'S CHARITY Cto INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF JOHN BEANE'S CHARrrY CIO For the Year Ended 31 March 2024 There are inherent lirnitations in our audit procedures descrlbed aVe. The more remowj that laws and regulations are from financial transartion5, the le55 likdy it IS that we would become aware of non-cornpliance. Auditing stsndards also limit the audit procedures required to identify non-compliance with laws and regulation5 to enquSry of the direttors and other management and the inspection of regulatory and legal correspondence, if any. Material misstètements that arise due to fraud can be harder to detett than the that arise from error as they may involve deliberate concealment or Collusion. A further description of our responsibilities for the audlt of the financial statetnents is located on the Financial Reporting Counal's website at,. http5'.Ilwww.frc,org.uklaudf(orsrp0n$Ib1IItIe$. This description forms part of our auditors report. Use ol our r¢port report is made solely to the charitVs trustees, a5 a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regularions 2008. Our audit work has been undertaken so that we might state to the tharity's trustees those rnatters we are required to stste to them in an auditor's report and for no other purpose. To the fullest extent perrnitted by law, we do not accept or assume responslblllty to anyone oiher than the charY and the chariws trustees as a body, for our audit worK for this reporf or for the opinions we have forrned. Chamberlains statutory Auditor Elrn House Tanshire Park Elstead Surrey GU8 6LB Date.. 2024 Chamberkiins is eligible for appointment as auditor of the charity by virtue of it5 eligibilty for appointment as auditor of a companv under section 1212 of the Companiè5 Act 2006.
JOHN BEANE5 OIARrrY CIO STATEMENT OF FINA14CIAL AcfiviTEES Forth¢ Year Ended 31 March 2024 2024 23 IIOTE GenerJl Fund D¢slinat4d Fund Endowmort Fund Total FuS tncrffiBwd qnd¢)vJth¢hts C(0b7e Irentsi IiiY¢5tni¢ots 3.0 306,005 320,481 62.122 50.949 Toial Tncornlng Resoums 71 Expellthture rmb.. ChaiknNp 2(hYil 67,935 ,436 371,491 lThv#tments LI,188 10,815 Totrl kps¢yrw Expended 96 67 935 36 riÈtlncDmel (eApendlture)farthe yearbefore galns and IrM•5¢)n Inv•stm¢nts 1$7,935) {96rt36) {14,552) 50OB5 NetpaiiGI (k>SSesI In¥e5tmw4 Irffi, 166.699 {92,493) NtIncllm•I{Ixp¢ndlt1A) 213,620 167,935) 4A62 151147 Transfers rÈtrt¢en F0$ 9110114 {191,587) 578.Y5 1467,358) Olher Recognlsed Galns and ILosAe$l re111 cl[ehUhj ooe 898.933 89B.933 6n.nOO NIYM0mINrIN PVNDS 24,033 12,065 583,4 431,575 1,051,080 631592 RECONULIAnoM OF FUNDS Fund 8a1aNe5 3trolafd at 01.N.23 £95,7SiTr £1.646,949 7,343.425 9,197,322 8,564,730 ¥t31.03.24 £119.823 £?3.22Y £12BO.356 7,77S,QOQ É1024&A02 £9.197.J22 l the chatitys&tivir43re ck55wJ a5cofiuiiukn9. Theieère no 11]5 orloss kn eiLher yearo¥r tw ttKAe Sho abth Thè pl 12- 18 f1Th rtseèC(Ou1lls
JOMN BEANES CrtARrrY cto BALANCÈ SHEET As At 51 March 2024 NOTE G¢neral Fund tle5ignated Fund Re#rfrte Futyd$ Endowmemt Funds 2024 Total Funds 2023 Totsl Fur•s FIXED 7$ FFethrTrld Inve4tment plurty C3zeThts¥e Iryvestnien15 7,775.0 7,775 niyj 1.624,118 9 399 118 6.6.067 1,&19,999 8 726 006 1,624,118 1 624 118 7 775 000 CVRREWT ASSETS Qzenove Investments Cash al BAiik 3.069 679 454 163.615 843.069 451.0 73,223 656,238 893.076 498,621 CURRENT LIABILrriES Crtditots (AnTrnts faNlng due thin one yoarl 43,792 43,792 27,36S Nei CurrentAssets I {Uabllitle51 119,823 73,123 656,238 WJ,284 471,256 WVASSET$ £11 £2 280 356 £10 248 £7 7?$ 000 £9 197 322 REPRENTeD BY.. 119,823 119.823 95,790 73,223 61,158 2,280.356 1.696,949 7 775 noo 7,Y3,425 £10 248 403 £7775000 197322 D¥Si¥iioi¥O Fund 73,223 14 2.2.350 Endowment Fund £2 280 356 ThE noleson pèges 12- 1810 part of theae These (fInts vlerè bPPiOvÉd and for bythe Tru5t•es at8 meetlno on Igthjuty 2024. Chaiman ofTN51ee5'. Tudor E Thomas Trnsiee.. Lmltthell
JOHN BEANE'S CH CIO NOTES TO THE ACCOUNTS For the Year Ended 31 Marth 2024 I.ACCOUNTING POLXCEES Scope and basls of the flnancl?l statements The chaiity constitutes a public benefit entty as deflned by FRS102. Tre flnanclal ststements have been prepared in acctsrdae wth 'Accounting and Repor by Charitie5.' Strtement of Recommended Practice applicable to charilies preparing their accounts In accordance with the Finanoal Reporting Standard ap Jicable in the UK and Republic of Ireland IFRS 1021 January 2022 version), the Financial Reportlng Stsndard applrable in the Unlted Kingdom and Republic of IreIar IFRS 1021 and the Charities Act 2011. The financl31 ststements have been prepara to gNe a Yrue and fairf view and have departed from the charities (Accounts and Reports) Regulatn5 2008 onty to the extent required to prothde a 'true and fair view,. This departure hès Invofved following 'Accountlng and Repong by Charitie5'. Ststement of Recommended Practlce appllcable to charfcles pparing their Kcounts in accordatTrce with the Financlal Repong Standard applicable in the UK and Repth] of Irdand IFRS 102)15econd EdlYCl,Trther than the Accountsng and Repoffang by Charibes.. Ststement of Recommended prax effecbve from l April 2rKJ5 whlch slrKe bn withdrawn. The finandal statements have been prepared on a gthro concem basis under the historical cost conventlon. The invethent propee5 tMJ listed iTrvestments are carried ot fair value. They are prepared in 5terllng and the monetary amounts are rwnded to the nearest £. Cash Flow Statement The Trustees have not prepared a cash flow siatement on the grounds th the tharity is small. Inwrning Resource$ Incoming roUrC are derlved from 8ctlvlUes of the charity. Incrme Is received from Investments held ar rental income representing the rents p3yaNe by private tenants. ljl income resourw a reCnIsed once the charity has entitlement thereto. Resources Expended All eXendturÉ Ls é¥pended on an Cru15 basls. Grants payable are payments made to third partles In the furtherance tk chèritable objectives of the Charity. The protnpt payment of grants once approved means that only rare would any grants be outs&nding at the end of the wiiod of account. Were any to exSt the lbilIty would te ognISed. There weie no related party tranCtIonS during the year. Investrnents Investnts are valued at the mi£l-market rate at the ck15e of bknesS on the last bLsInS day before the Balan Sheet tste. Galns or losses are tsken to the Ststement of Flnanclal AcUvStyes and dassifled aCcordIrlY. Investrnent Property Inbent propety was rtrvalued as at 14 December 2022 by Joseph Jameson Evan5 Umlt&J at open market value on an exisb.ng use basls. They are responsSble for onEy I building valuab"on. The remaining properties were revalued by Savills & at 31 March 20LB. The fair values are based on valuations by Independent quaIrfd valuers with recent experience In rhe bcatlon and class of the investment propety belng valued. Cash and cash equlvalents Cash and c&h tyuivalents compiise cash at bank and on hand, demand depOts with banks and other short-teitn high Iwu InvestmEt8 with original [Tr3tUriti of tliree Munu oi" IcS5. Cash is an amalgamats.on of various accounts which are not ovwdrawn, but are allocated beLween the funds as appropriète. There is no overdr Credltors Short tetm creditors are rneasured at the transactlon prlce. Finan¢ial Instruments The charlty only enters Into blC financlal instruments transactlons that rVIt in the recognition of financial Sets and liabilitie5 like otlEr accounts recewable and payable. Financial assets a measured at cost and are assessed at eryj of eèch reportlng perlod for obJeCve ewdence of impairment. Where ObJecte evidence of impairment is found, an Impairment10s51s recogTrld In profil arKI10, Flrkinclal assets and Ilabllitles are offset ar the net amount rewrted In t balance sheet when there is an enforceable right to set off the reccgnised amount and there is an intention to 5eWe a net basis or to realise the asset and 5ettSe the liab11ity Simultaneo1y. Funds The charity has four fund5. Tre General Fund may be spent at the discretion of the Tru*ees for the purws& w&cribed in the Scheme. The 0ignated Fund has been deslgnated by the Trustees and & used for property rnalntenan Isee Note 91. Tnere are vo Restrltted Funds which have been Trised for speclfic putP05es; one must be invested to produce income and tFE other being Mon1 allocated to help those In Need (see Note 141. 12
JOHN BEANE% CHARTrY cio NOTESTO THE ACCOUIITS For the Year Ended 31 Marth 2024 IINVESTMENT INCOME AND XNTEREST 2024 2023 Investment IrKome- Managed FLnds 60,638 50,389 Bank DepDsSt Interest 560 £62 122 3. EXPENDrruRE ON CHARITABLE ACTIVrnES 2024 2023 Grants from Generd Fund (Note 4) 142,821 137,201 Grants from Restrfcted Fund (Note 141 96,436 69,359 Propety Naintenan 67,935 34,676 Property Administration 42,7n 48,408 Support Cos (Note 51 21,527 £371491 20,886 £310 530 4.GKANTS from GENERAL FUND 2024 2023 Grants to Mlnstefs of United keformed ChurctrÈ5 and CoTrJregatlor01 Churtrs kn the Adminlstratlve County of 5urrey Grants for rdKJious purposes 66,710 71,214 £142 821 £137 201 Note.. Induded In the grants figures we 9 grants to OrganItils. The* ère grants for church workffs at URC churd)es, made for the fvrtheran of rdigtOUS PUlPDses. There are also grants for thurth projects amounting to £8,000. Unlted Reforrned (hUrth Trust w41g URC Worker Grant Guildford URC Wke[ Grant Bookham URG Work8rlHoliday grant DoFking URC Worker Granl High Gross Chur¢h Worker Grant Godalmlng United Chur¢J) Worker Gram Si8ine5 URC Worker gr8nl The Spire Church Worker Grant Q5,856 £18,592 £13,249 £9,207 £8,601 £4,107 3,QDO £6,920 £101 567 The remalnlng grants are to IndiwduaK% relating to.. Grants to indiwdual rebred ministers for fvrtherance of reSigious putP05es Holiday aubs £30,854 13
JOHN BEANES CHATy ao NOTES TO THE ACCOUNTS For the Year Ended 31 Mareh 2024 5. SUPPORT COSYS 2024 2023 Audit Fee RnancBIAdmlnthtion.' Clerk's Fees Sundrie% 18,782 352 17,719 912 £18 631 TOTAL SUPPORT cosrs £21527 Notes l. The Trustees only recelved reimbursement of out of pwket expense5 which amiyJnted to £0 durlng the year cthw remunerab.on was pald. suprort costs are allocated to Granls Within ExpendUre from charitable athVIe$ on the basls that Investments and Prope& are managed by thlrd palles. All Support msts are allOtay to the Generdl Fund. Support Costs are not deern to be sufficientb/ material to be allocated to Grants on an indNilual basis. expENDITURE ON INVEsfMENTS 2024 2023 Investr*nt Fees 11,188 IU,815 £11 188 £10 815 7. FREEHOLD INVEWMÈNT PROPERllES 2024 2023 Valuation at l April 2Q23 Revaluat"on Gain 6,876,067 898,933 6,201,067 675,0 ValuaYc4) at 31 Mard) 2024 £7 775 000 £6,876,067 An Independent lUatIOn was performed a5 at 14 December 2022 by Joseph Jameson Evans Limited whlch reyjlted in an InCaSe In the falr value of one of the propertles held of £675,00& The hlstorfcal cost was £1,650,000. A valuatlon of the mainin9 propert5 perfomied In May 2018 by Savills. In both cases, the falr values are based on lUatIOr by independent qualrfEd valuets with eXpIe in the location and dass of the investment property being walued. 14
JONN BEAfiE'S CHARITY CIO NOTES TOTHE ACCOUNTS Forthe Year Ended 31 Marth 2024 8. INVESTMENrs Genet41 Fund RÉstrlcted Funds 2024 2023 Market Vèlut at 01.04.2023 Invostments IlstÈd on retogrmsed stock exchange Cash as of the Jnve5tment portfol50 442,418 1023,058 2,265,476 2,236,783 8,621 26,941 35,562 70,174 451,039 1,849,999 2,301,038 2,3(6,957 Acqul>tions In the Year 544,335 281,205 825,540 616,190 995,374 2,131,204 3,126,578 2,923,147 Sposals in the Ye3r 225,305 624.792 850,f67 495,004 770,069 1,506,412 2,276,481 2,428,143 Cash m¢)vements in the Year 7,199 16,808 24,W7 134,6121 777,266 1,523,220 2,3QO,488 2,393,531 Net galnll10551 65,801 100,898 166,699 192,4931 843,069 1,624,118 2,467,187 2,301,038 MJrk•tValw èt 31.03.2024 JnvÈstfflents listed gn recognlsed stock exchange Cash a5 Port of the Invesknent porfdollo 827,249 1,580,369 2,407,618 2.265,476 15,820 43,749 59,569 35,562 £843 069 £1 624 118 £2 467 187 £2 301038 H15toricol Cost of Investments a5 at 31.03.2024 £752,326 £1,246,014 £1,998,340 £1,997.993 7.69%ofthÈ assèts of the chaiityire Invested in 5DPR5 & P SW EIF 27.72%of the assets of the chartybre invested In Vanguird S +P 500EfF 9. DESIGNATED FUND {PROPER7Y MAINTeNANCE RESERVE) 2024 2023 L¥Ke ès at l Ap1 2023 61,158 80.000 141,158 67,935 £73,223 45,834 50,000 95,834 34,676 £61,158 Add Transfer h the Year L5 Expenditure In the Year Balar(e a5 at 31 March 2024 15
JOHN BEANE'S CHARITY CIO NOTES TO THE ACCOUNTS (Contlnued) Forthe Year Ended 31 March 2024 10. PROPORTION of NEf INCOME for those In NEED 2024 2023 One thlrd of the net income, calculated as follows, transferrabte to the restricted fund for the relief of persons In'need, hardshlp or dlstress" Totsl Incoming Resources other realised1105ses)/gains on Investment Assets 368,127 65,801 433,928 19,134 371,430 112,703) 358,727 18,631 Less.. Management and Admlnlstravon Les5'. Prop* Maintenance R&erve 80,000 £334 794 50,000 £290,096 One thlrd therefore (note 14) £111587 £95 732 11. CREDITORS (Amounts falling due withln one year) 2024 2023 Other Credltors Accruals and deferred income 32,719 11,073 24,615 2,750 £43 792 £27 365 12. DEFERRED INCOME Included in creditor5 (Note 11) 15 deferred Income of £11,073 (2023 - £2,750) which relates to renta5 Income. Balance as at l Ap1 2023 2,750 Amount released to incomlng resources Amount deferred In year 2,750 11,073 Balance as at 31 March 2024 £11073 16
JOHN BE&ME¥ CHA CIO NOTESTOTHE ACCOUNTSIConUnuedl Forth•Ytor Ended 31 MJr£h 2014 13.STATEMENT OF FINANcfALACTivmEs COMPAMIYJVF FIGURFS BY FUNtyTYK 2023 2022 13enoral Fund De4gnthd Fund RestrScted Funds Endowrnent Fund TotriFurtdi TOtsI Fwds ro¥(ti¥7be9 lientsi lnveAtMr5 320,481 320.481 288,937 5U.949 50.949 43,738 Tptsl In¢19 Respyrr 371 371 332 675 ReF¢)ur Exp•nded rlataÈAcU¥iUes 206,495 34b76 69.359 310.530 301,395 Total Reswr¢4s Expondr 31 Net Income lor tt7e yearbelth 5pin$ Bnd lasseson Inve5tmentS (3467fj1 (09J59) 50,Ib85 20.%• Net gainsl Ilokns) inve (79,790) 154.709 Net Incornel (expendEture) 141,417 (34,6761 (69J5£1) 179,7901 [42NOB) 175,108 Trtnsfers Ltheen Funds (145,732) 95,732 Qthv Recrynlsed GlllnBttf (L¢woJ) GèjiLS on reRIwJliun DI Iieehjld 675,(WY) 675.CQO NET NOVtyIENf IN FUNDS 143151 15,324 70¥373 179,790) 632,592 REcof4CILIATION OF nlNtsS Fund rIc¢s Biowlit lorwd at 01.04.22 7,423.215 8 389 622 £61 158 £1 Z5 £9 197 14. RE5fRItTED FUNDS Re5trftted Fvnd In Need Pund Total Bae trwhtfrryrfèrd at l 2Q13 Gtsnts In Eheyear w 336 Otw rerwTr5edga1[Ikry5c5I Trafer bglYJeen reseyves AIIc(èbon5 tor kne yeor to 31 Mèich 2024 (Drte io) 1,390,688 306,201 (%.436} 4894949 (96A3fj1 100,B98 467,358 111.587 IiJ),898 467.358 111,567 nce 31 March 2924 £1958 944 £321412 Trt Rekncted FU(Lgsts h¢hJwiihin Ihe Irrt5trnenl pJtldblas note8). I1 klMentsre ie5tri¢téO 10 use fDI Nepd Ful wly. TheIn FuThl ts a regtr1cted1undfortr lef of perWriSin'ietd, hèidshipoi (5slr¥S5". Each wr, rAthjrdaf Ihe r licome 1stsn5feirabtO the F4 in Ie With rn5 of Qknilty's Th5 15 85 per 10. 17
JOHN BEANES CHARITY CIO NOTES TO THE ACCOUNTS (Continued) For th• Yèar Ended 31 Marth 2024 15. ENDOWMENT FUNDS 2024 2023 Balance tfvid l April 2023 Other recognlsed galnsl11055es) Transfer btheen eNeS 7,343,425 898,933 1467,3581 7,4,215 {79,7901 Balance Ld 31 March 2024 £7,775,000 £7,343,425 The endohvment fijnd consSsts of an endowNtnt of property to the Charity. A trnn5fer of £467,358 made to the Resthcted Fund to correcdy allate resourc&. 16. OPERATJNG LEASE CONMITMENTS The company has entered into a number of non-cancelLitle cytating leases a5150r for which the total of future minimum lease pèymenb are a5 follow5.. Z024 2023 W1thin Dne year Later than one year but within fwe years Latsr than five years 297,878 265,756 314,328 398,634 £563.634 £712,962 There are no conbngent rents. 17. FimJRE COMMrrMENTS Trustees have no future commitments. 18. RELATED PARTY TRANSACTIONS re were no transactio with related pae$ during the year. No trustee or other rerson related to the charity had any personal Interest In ary contract or tran5acU entered Into by ttE charity during the year. 19. STATUS AND APPROVAL OF ACCOUNTS John Beane's Chèrity CIO is a recognlsed charity rgJi5tered with the Charity cCthml1onerS under reglstratlm nunTrber 1161716. Tre aciovnts and Th$te, report were approved by the Trustees on 19th Juty 2024. 18