CHARITY REGISTRATION NUMBER.. 1176972 Kendal (Kirkland) Trust Unaudited Financial Statements 31 December 2023 LLMON.T_PRIDMORE Chartered Accountants 136 Highgate Kendal Cumbria LA9 4HW ouItLGUMBRIAJ LTD Kendal (Kirkland) Trust Financial Statements Year ended 31 December 2023 Pagg Irustees. annual report Independent examinerfs roport lo the trustees Slalemenl of financial activities Slalement of financial position Notes to the financial Statements The following pagès do not fomi part of the financlal statements Detailed sialement of financial actSWties 14 Notes to the detailed statempnt of financial activities 15 Kendal (Kirkland) Trust Trustees. Annual Report Year ended 31 December 2023 The trustees present their report and the unaudited financial ststements of the charity for the year ended 31 December2023. Reference and administrative d&tsll$ Reglstered charity name Kentlal (Kirklandl Twst Charity registratlon numbor 1176972 Principal office Church Office Holy Trinity Church Kirkland Kendal Cumbria LA9 SAF The trustsos Revd Sttanthi Thompson (Vicar) N Bales (Vice Chairman) R Forsyth IChurchwarden} Independent examiner Kart Burrell FCCA,MAAT On Behalf of Lamont PridmoTe (South Cumbria) Ltd 136 Highgate Kendal Cumbria LA9 4HW Structure. govemance and m4naggment The charity IS govemed by a trust deed and is constituted as a charitsble unincorporated organisalion. Two of the four Iruslees serve ex officio.. the Vicar of Ken¢Jal Parish Church and the Vice Chair of the Parochial Church Council. The other two trustee5 are appointed from the membership of the Parochial Church Council (other than the Honorary Treasurer) by the ex officio ITuslees. Objectivos and a¢tivitÉes The objects of the charity are for the furtherance of any religious and cha¥itable purposes in connection ￿th the Parish Church of the Holy TTinily Kendal ('Kendal Paiish Chur¢h"I for the benefit of members of the Church of England resident in the parigh. The Trust is responsible for the maintenance and upkeep of the Kirkland Car Park, which 1$ Srtuated on land owned by the Trust and the Charity for a Mission Room (Parish Hall Trust). The Trust also owns the land befvRen the Halls and the River Kent, known as Glebe Land. A ¢ontribution from car park income is given lo Kendal Parish Church eacli year. An agreed share of the nel c8r park income is given to the Parish Hall Trust each year. Kendal (Kirkland) Trust Trustees, Annual Report fcontinuedj Year ended 31 Decembor 2023 Achlovements and porforniin¢• The Trust continued lo support the work of Kendal Parish Church by a grant lo the Parochial Church Council. This helped lo meet the costs of 5ervi¢e and outreach lo residents within the Parish. Financi41 revlew The charity's principle source of funds is income from Kirkland Car Park, which 15 Sltuated on land owned by Ihe Trust and the Parish Hall Trust. The nel expenditure for the year of £115,647 has been tleducted from the surplus brought fomard of £607,031 which gives a surplus lo carry forward of £491,384. All of the Trust's funds are Un￿StrIcted and can be used in accordance with the obpclives of the Trust. Reserves are held at a level which the Trustees jLJdge necessary to enable it lo continue to fulfill its objective for the longer temi. The bulk of the resorves have been invested for capital growth. The twslees, annual report was approved on and signed on behalf of the board of trustees by.. Revd Shanlhi Thompson Ivicarl Trustee Kendal (Kirkland) Trust Independent Examiner's Report to the Trustees of Kendal (Kirkland) Trust Year ended 31 December 2023 I report to the trustees on my examination of the financial statements of Kendal {Kirkland) Trust I'the ch8rty') for the year ended 31 December 2023. Rosponsibilitios and ba$is of rèport As the trustees of the charity you are responsible for the preparation of the financial $tstements in accordance with the reqU1￿M￿nts of the Charities Act 2011 I'the Act'l- I report in ￿spect of my examination Df the charity's financial statements carried out under section 145 of the 2011 Act and In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 14515llbl of the Act. Independent examin&V8 8tstement I have completed my examination. I confirm that no material matters have come to my attention In connection wth the examinalion giving me ¢ause to believe that in any material respect.. accounting ￿CordS were not kept in respect of the charity as required by section 130 of the Act., or the financial slalements do not accoré with those re¢ords', or the financial statements (lo not comply wlh the applicable requirements concerning the fom and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the account5 give a 'lnJe and fair. view which is not a matter considered as part ol an independent examinatior>. I have no concems and have come across no other matters in connection wlh the examination to which altention should be drawn in this report in order to enable a proper understanding of the 8¢counls lo be reached. Karl BU1￿11 FCCA,MAAT On Behalf of Lamont Pridmore (South Cumbria} Ltd Independent Examiner 136 Highgate Kendal Cumbria LA9 4HW IKJ l.-.Iw-4 Kendal (Kirkland) Trust Statement of Financial Activities Year ended 31 December 2023 2023 Unrestricted funds Totsl funds 2022 Total funds Note Incoma and ondowmonts Donation5 and legacies Other trading activities Investment income 55 102,925 55 102,925 80,293 Total income 102,988 102,988 80,297 Expenditure Expenditure on raising funds." Costs of raising donations and legacieg Expenditure on charitable adivrties Other expenditure Total expenditurn 274,637 3,215 127 274,837 3,215 127 119,312 1,678 118 278,179 278.179 121,108 Net gainslllosses) on investments 11 59,544 59.544 167,9241 Net expgnditure and ngt movement In funds 115,647 115,647 108,735 Recon¢lliation of fund$ Total funds brought fO￿ard Total fund¥ carried foTh¥ard 607,031 607.031 715,766 491,384 491.384 607,031 The statement of finanual aclivib'es includes all gains and losses ￿cogniSed in the year. All income and expenditure derive from Continuing activities. The notes on pages 6 to 12 forn p•rt of thesg financlal statements. Kendal (Kirkland) Trust Statement of Financial Position 31 December 2023 2023 2022 Nolg Fixed assets Tangible fixed assets Investments 14 15 3,062 463,312 466,374 3,062 603,768 606,830 Current assets Debtors Cash at bank and in hand 16 7.639 32.154 7,001 20,513 39,793 27,514 Creditors: amounts falllng due within one yeaT Net current aJ8•ts 17 14,783 27,313 25,010 491,384 201 Totsl as89ts l*$s current liabllities 607,031 Funds of the charity Unrestricted funds 491,384 491,384 607,031 Total ¢harlty fvnds 18 607,031 These ncial slalements were approved by the board of trustees and authorised lor issue on è&... and are signed on behalf of the board by.. Revd Shanthi Thompson (Vicar) Twslee The notès on pagès 6 to 12 fom) part of these financial statsm&nts. Kendal (Kirkland) Trust Notes to the Financial Ststements Year ended 31 December 2023 Gengral infomiation The charity is a public benelil entity and a registered charity in England and Wales and is unincorporated. The address of the priftcipal offiee is Church Office, Holy Trinity Church, Kirkland, Kendal. Cumbria, LA9 SAF. ststpment of compllance These financial statements have been prepared iii compliance with FRS 102, The Financi81 Reporting Standard applicable in the UK and the Republic of Ireland,, the Statement of Recommended Practice appli¢able to charities p￿paring their aecounls in accordance with tho Financial Reporting Standard applicable in the UK and Republic of Ireland IfRS 1021 (Charities SORP {FRS 10211 and the Charities Act2011. Accountlng polici95 Bagis of preparation The financial statements have been prepafed on the historical cost basis and are prepared in sterling, which is the functional currency of the entity. Going concern There are no material uncertaints.es about the charity's ability lo continue Judgemonts and kèy sour¢gs of estimation uncertainty The preparatSon of the finan￿81 statements requires management to make judgements, estimates and assumptions that affeot the amounts reported. These estimates and judgements are conb"nually reviewed and are based on expenence and other factors, including expectats.ons of future events that are believed lo be reasonable under the circumstsnces. Fund accounting Unreslrtcled funds are available for use at the discretion of the trtkslees to further any of the charily'g purposes. Designated funds are unrestricted funds earmafked by the trustee5 for particular fvture project or commitrnent. Restricted funds are subjected to reslriclions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-clas5es.' restricted income funds or endowment fund5. Kendal {Kirkland) Trust Notes to the Financial Statements {continiKdJ Year ended 31 December 2023 Accounting poli¢ie$ (eonthyued) Incoming rnsourcos All incoming resources a￿ included in the statement of financial activities when enlillemenl has passed lo the charity," il is probable that the economic benefits associated wth the transaction wll flow lo the charity and the amount can be ￿liablY measured. The following $pecifbC policies are applied to particular categories of income.. income from donations or grants is recognised when there is evidence of enb"tlemenl lo the gift, Teceipt is PTobable and its amount can be measured reliably. legacy Income is recognised when receipt is Probable and entitlement is established. income from donated goods is measured al the lair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost lo the donor or the eslimaled resale value. Donated facilities and seNices are ￿COgnised in the accounts when received if the value can be reliably measured. No amounts are included for the contributs'on of general volunteers. Sn¢ome from contracts for the supply of services is rec¢gnised wth the delivery of the contracted service. This is classified as unrestricted fLJnds unless there is a conlraclual requiremenl for il to be spent on a particular purpose and retumed if unspent, in which case it may be regarded as reslricled. Resources expended Expondiluo is recognised on an a¢onJals basis as a liability 13 incuffed. Expendrture in¢ludes any VAT which cannot be fully Tecovered, and is classified under headings of the statement of financial activities lo which it relates". expenditure on raising funds includes the costs of all fundraising activities, events, non- charitable trading activities, and the sale of donated goods. expenditure on charitable activities includes all costs incurred by 8 charity in undertaking activities that further 115 charitable aims for Ihe benefit of ils beneficiaries, inclu(Jing those support costs and costs relating lo the governance of the charity apportioned to charitable activities. other expenditure includes all expenditure that is neither related to raising funtjs for the charity nor part of its expenditure on Charitable activities. All costs are allocated to expendrture categories reflecting the use of the resource. Dire¢l costs atlribulable to a single aclivlty are allocated directly lo that activity. Shared costs are apportioned between the activities they contribtrte lo on a reasonable, justifiable and consislenl basis. Tangible as89ts Tangible assets are initially recorded 8t cost, and subseouenly stsled at cost less any accumulated depreciation and impairment losses. Any tangible assets carried 8t revalued amount$ are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent ac¢umulated impairment losses. In¥e$tments Unlisted equity investments are initially recorded al cost. and subsequently meaSU￿d al fair value. If fair value cannot be reliably rneasured, assets are measured at cost less impairment. Kendal (Kirkland) Trust Notes to the Financial Statements (Ctsnlint￿d) Year endod 31 December 2023 Accounting policies I￿ntInued) Investmonts f¢ontinuodJ Listed investments measured at fair value with changes in fair valve being recognised in income or expenditure. Impalrm•nt of fixed assats A ieview for indicators of impairnienl is carried out al each reporting date, with the fecoverable amount being e5tsm8led where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset 15 impaired accordingty. Prior impaiments are also reviewed for POS5ible reversal at each reporting date. Financial instrum•nts A financial asset or a ffinancial liability is recognised only when the charity becomes a paty to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs. Current assets and current liabilities are subsequently MeaSu￿d at the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measU￿d at amortised cost. Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the Investment is subsequenlly measured at fair value wth changes in fair value recognised in income and expenditure. All other such investments are subsoquenlly measured al Cost less impairment. other financial instruments, induding derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal buginess terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value ol the future payments discounted al a market rate of interest for a similar debt instrument. Other financial instruments are subsequerbtly measured at fair value, with any changes recognised in the statement of financial acb"villes, with the exception of hedging instruments in a designated hedging lationship. Financial assets that are measured at cost or amortised cost are ￿vieWed for objective evidence of impairment al the end of each ￿porting date If there is objective evidence of impairment, an impairment Ios5 is re¢ognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised. For all equity instruments regardless of significance, and other financial assets that are individua15y signrficant, these are assessed individually foF impaimienl. Other financial assets are either assessed individually or grouped on the basis of similai credit risk ¢haracteris1i¢s. Any reversals of impaimient are ￿GognISed immediately, to the extent that the rèversal does not result in 8 carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been ￿cOgnISed. Kendal (Kirkland) Trust Notes to the Financial Statements (coftunuaty) Year ended 31 December 2023 Donations and legacies Unrestricted Total Funds Unreslricled Total Funds Funds 2023 F¥Jnds 2022 Donations Donations 55 55 Other trading activities Unrestricted Total Funds Unrestricted Total Funds Funds 2023 Funds 2022 Car p8rk receipts Conlra¢l parking Renl from Cadent Gas Ltd Ifomierly National Gridl 90.062 12,015 90,062 12,015 67.237 12.20B 67,237 12,208 848 848 848 102,925 102,92S 80,293 80,293 Inv8stment income Unrestricted Total Funds Unreslricled Totsl Funds Funds 2023 Funds 2022 Bank interest receivable Costs of raising donations and legaci8$ Unreslricled Total Funds Unreslricled Total Funds Funds 2023 Funds 2022 Costs of generaling income 274,837 274.837 119,312 119,312 Exponditur¢ on ¢haritabl• actlvltle$ by fund typ Unrestricted Total Funds Unrestricted Total Funds Funds 2023 Funds 2022 Support costs 3,215 3,215 1,678 1,678 Expendlture on charitable activities by activity typg Totsl funds 2023 Total fund 2022 Support costs Govemanc8 costs 3,215 3.215 1,678 10. Other expenditure Unreslricled Total Funds Unreslricled Total Funds Furid8 2023 Funds 2022 Bank ¢harges 127 127 118 118 Kendal {Kirkland> Trust Notes to the Financial Statements (continued) Year ended 31 December 2023 11. Ngt gainsl{Iossgs1 on invostmgnls Unreslricled Totsl Funds Unreslricled Total Funds Funds 2023 Funds 2022 Gainslllossesl on other investment assets 59,544 59.544 167,9241 167,9241 12. Independent examinatlon fves 2023 2022 Fees payable lo the independent examiner for-. Independent examination of the financial statements 1.970 1,875 13. Trustse femun#ratlon and •xpgn$os No remuneration or other benefits from cmploymenl with the charity or a related er*tity were re￿iVed by the trustees. 14. Tangiblo fixed assets Land and building5 Cost At 1 Janu•ry 2023 and 31 December 2023 Dep￿CIatiOn At l January 2023 and 31 De¢trmbor2023 Carying amount At 31 Docember 2023 3,062 Al 31 December 2022 3,062 15. Investsnents other invo$tments ost or valuation Al 1 January 2023 Additions Disposals Fair value movements 603.768 1200,000 59,S44 463.312 At 31 Decèmber 2023 Impaimient At 1 January 2023 and 31 D•¢omber 2023 Carrylng amount At 31 Decembèr 2023 463,312 Al 31 December 2022 603.768 All investments shown above are held at valuation. 10- Kendal (Kirklandl Trust Notes to the Financial Statements (eotrrtlnued) Year ended 31 December 2023 16. Debtors 2023 2022 Trade debtors Prepayments and accrued income 6,331 1,308 5,753 1,248 7,639 7,001 17. Credltors: amounts falling due within one year 2023 2022 Trade creditors Social security and other tsxes 8,778 6,005 22.452 4,861 27,313 14,783 18. Analys1$ of charitabl• funds Unrestrlctod funds At 1 January 202 At Gains and 31 De¢ember losses 2023 Income Expenditure General funds 607,031 102,988 {278,1791 59,544 491,384 At 1 January 202 Al Gains and 31 December losses 2022 Inwme Expenditure General funds 715.766 80,297 1121,1081 {67,9241 607,031 19. Analysis of n¢t a53ets betweèn funds Unre3tricted Totsl Funds Funds 2023 Tangible fixed assets Investment5 Cu￿ent assets Creditors less than 7 ye8r Net assets 3,062 463.312 39,793 114,7831 491,384 3,062 463,312 39.793 114,783) 491.384 Unreslricled Total Funds Funds 2022 Tangible fixed assets Investments Current assets Creditors less than 1 year Net assets 3,062 603,768 27,514 127,3131 3,062 603.768 27,514 127,3131 607,031 607,031 Kendal (Kirkland) Trust Notes to the Financial Statements (conlinutdj Year ended 31 December 2023 20. Rglated parti*s During the year the Trust made ¢onlribulion5 of £215,876 to the Kendal Padsh Church 12022.. £71,942). The Trust paid rent- share of net car park income of £43,80012022.. £32,571} to the Parish Hall Trust. Al the year end £8,80012022." £20.5711 was owed to the Partsh Hall Trust. 12- Kendal (Kirkland) Trust Management Infomiation Year ended 31 December 2023 The following paggs do not form part of the financial statements. 13- Kendal {Kirkland) Trust Detailed Ststement of Financial Activities Year ended 31 December 2023 2023 2022 Income and endowments Donations andlggacies Donation8 55 Other trading activitie$ Car park receipts Contract parking Rent from Cadenl Gas Ltd Iformerfy National Gridl 90,062 12,015 848 67,237 12,208 102,925 80,293 Invè$tmènt income Bank interest receivable Total incom& 102.988 80,297 Expendlturo Costs of raising donations and leg8¢1os Rates and water Light and heat Repairs and maintenance InsLJrance Legal and professional fees Share of nel Car park income paid to Parish Hall Trust Stationery, postage and lolephone Donations to Parish Church from car park income 8,337 192 880 420 5,000 43.800 332 215.876 8,017 192 1,100 370 5,000 32,571 120 71,942 274.837 119,312 Expenditure on cha¥itabl* activlties Legal and professional fees 3.215 1,618 Other èxpgnditufe Bank ¢harges 127 118 Total expenditure 278.179 121.108 Not gaSnslllosse51 on invostments Gainslllossesl on other investment assets 59,544 67,924 Net oxppndituro 115,647 108,735 14- Kendal (Kirkland) Trust Notes to the Detsiled Ststement of Financial Activities Year ended 31 Dec6mber 2023 2023 2022 Costs of ralslng donalSons and legacio$ Costs of generatlng Incrffig Rates & water Light & heal Repairs & maintenance Insurance Fees paid to SLDC Share of net car park income paid lo Parish Hall Trust Stationery, postage & telephone Donab'ons lo Parish Church from car park income 8,337 192 880 420 5,000 43,800 332 215,876 8,017 192 1,100 370 5,000 32.571 120 71,942 119,312 274,837 Costs of ra5sing donations and legacies 274.837 119,312 Expendltknre on charitable activitsos Governanc• costs Governance ¢osts- a¢¢oLJnlancy fees Govemance costs- legal and other professional fees 1.965 1.250 1,678 3.215 1,678 Expendituro on Gharitable a¢llvlllg$ 3.21S 1,678 15-