CHARITY REGISTRATION NUMBER: 1176972
Kendal (Kirkland) Trust Unaudited Financial Statements
31 December 2024
LAMONT PRIDMORE (SOUTH CUMBRIA) LTD
Chartered Accountants 136 Highgate Kendal Cumbria LA9 4HW
Kendal (Kirkland) Trust
Financial Statements
Year ended 31 December 2024
| Page | |
|---|---|
| Trustees' annual report | 1 |
| Independent examiner's report to the trustees | 3 |
| Statement of financial activities | 4 |
| Statement of financial position | 5 |
| Notes to the financial statements | 6 |
Kendal (Kirkland) Trust
Trustees' Annual Report
Year ended 31 December 2024
The trustees present their report and the unaudited financial statements of the charity for the year ended 31 December 2024.
Reference and administrative details
Registered charity name Kendal (Kirkland) Trust Charity registration number 1176972 Principal office Church Office Holy Trinity Church Kirkland Kendal Cumbria LA9 5AF The trustees Revd Shanthi Thompson (Vicar) R Forsyth (Churchwarden) D Aspinall (Appointed 12 April 2024) Independent examiner Karl Burrell FCCA,MAAT On Behalf of Lamont Pridmore (South Cumbria) Ltd 136 Highgate Kendal Cumbria LA9 4HW
Structure, governance and management
The charity is governed by a trust deed and is constituted as a charitable unincorporated organisation.
Two of the four trustees serve ex officio: the Vicar of Kendal Parish Church and the Vice Chair of the Parochial Church Council. The other two trustees are appointed from the membership of the Parochial Church Council (other than the Honorary Treasurer) by the ex officio trustees.
Objectives and activities
The objects of the charity are for the furtherance of any religious and charitable purposes in connection with the Parish Church of the Holy Trinity Kendal ("Kendal Parish Church") for the benefit of members of the Church of England resident in the parish.
The Trust is responsible for the maintenance and upkeep of the Kirkland Car Park, which is situated on land owned by the Trust and the Charity for a Mission Room (Parish Hall Trust).
The Trust also owns the land between the Halls and the River Kent, known as Glebe Land.
A contribution from car park income is given to Kendal Parish Church each year.
An agreed share of the net car park income is given to the Parish Hall Trust each year.
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Kendal (Kirkland) Trust
Trustees' Annual Report (continued)
Year ended 31 December 2024
Achievements and performance
The Trust continued to support the work of Kendal Parish Church by a grant to the Parochial Church Council. This helped to meet the costs of service and outreach to residents within the Parish.
Financial review
The charity's principle source of funds is income from Kirkland Car Park, which is situated on land owned by the Trust and the Parish Hall Trust.
The net expenditure for the year of £15,379 has been deducted from the surplus brought forward of £491,384 which gives a surplus to carry forward of £476,005. All of the Trust's funds are unrestricted and can be used in accordance with the objectives of the Trust.
Reserves are held at a level which the Trustees judge necessary to enable it to continue to fulfill its objective for the longer term. The bulk of the reserves have been invested for capital growth.
The trustees' annual report was approved on 16 May 2025 and signed on behalf of the board of trustees by:
Revd Shanthi Thompson (Vicar) Trustee
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Kendal (Kirkland) Trust
Independent Examiner's Report to the Trustees of Kendal (Kirkland) Trust
Year ended 31 December 2024
I report to the trustees on my examination of the financial statements of Kendal (Kirkland) Trust ('the charity') for the year ended 31 December 2024.
Responsibilities and basis of report
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of 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 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the charity as required by section 130 of the Act; or
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the financial statements do not accord with those records; or
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the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination.
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.
Karl Burrell FCCA,MAAT On Behalf of Lamont Pridmore (South Cumbria) Ltd Independent Examiner
136 Highgate Kendal Cumbria LA9 4HW
16 June 2025
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Kendal (Kirkland) Trust
Statement of Financial Activities
Year ended 31 December 2024
| 2024 | 2024 | 2023 | ||
|---|---|---|---|---|
| Unrestricted | ||||
| funds | Total funds | Total funds | ||
| Note | £ | £ | £ | |
| Income and endowments | ||||
| Donations and legacies | 4 | – | – | 55 |
| Other trading activities | 5 | 92,958 | 92,958 | 102,925 |
| Investment income | 6 | 8 | 8 | 8 |
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|
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| Total income | 92,966 | 92,966 | 102,988 | |
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|
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| Expenditure | ||||
| Expenditure on raising funds: | ||||
| Costs of raising donations and legacies | 7 | 130,158 | 130,158 | 274,837 |
| Expenditure on charitable activities | 8,9 | 2,671 | 2,671 | 3,215 |
| Other expenditure | 10 | 204 | 204 | 127 |
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| Total expenditure | 133,033 | 133,033 | 278,179 | |
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| Net gains on investments | 11 | 24,688 | 24,688 | 59,544 |
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| Net expenditure and net movement in funds | 15,379 | 15,379 | 115,647 | |
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| Reconciliation of funds | ||||
| Total funds brought forward | 491,384 | 491,384 | 607,031 | |
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| Total funds carried forward | 476,005 |
476,005 |
491,384 |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 6 to 12 form part of these financial statements.
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Kendal (Kirkland) Trust
Statement of Financial Position
31 December 2024
| 2024 | 2023 | |||
|---|---|---|---|---|
| Note | £ | £ | £ | |
| Fixed assets | ||||
| Tangible fixed assets | 14 | 3,062 | 3,062 | |
| Investments | 15 | 438,000 | 463,312 | |
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| 441,062 | 466,374 | |||
| Current assets | ||||
| Debtors | 16 | 8,471 | 7,639 | |
| Cash at bank and in hand | 47,993 | 32,154 | ||
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| 56,464 | 39,793 | |||
| Creditors: amounts falling due within one year | 17 | 21,521 | 14,783 | |
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| Net current assets | 34,943 | 25,010 | ||
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| Total assets less current liabilities | 476,005 | 491,384 | ||
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| Funds of the charity | ||||
| Unrestricted funds | 476,005 | 491,384 | ||
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| Total charity funds | 18 | 476,005 |
491,384 |
These financial statements were approved by the board of trustees and authorised for issue on 16 May 2025, and are signed on behalf of the board by:
Revd Shanthi Thompson (Vicar) Trustee
The notes on pages 6 to 12 form part of these financial statements.
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Kendal (Kirkland) Trust
Notes to the Financial Statements
Year ended 31 December 2024
1. General information
The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is Church Office, Holy Trinity Church, Kirkland, Kendal, Cumbria, LA9 5AF.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Charities Act 2011.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis and are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
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Kendal (Kirkland) Trust
Notes to the Financial Statements (continued)
Year ended 31 December 2024
3. Accounting policies (continued)
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
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income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
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legacy income is recognised when receipt is probable and entitlement is established.
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income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
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income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
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expenditure on raising funds includes the costs of all fundraising activities, events, noncharitable trading activities, and the sale of donated goods.
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expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
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other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Investments
Unlisted equity investments are initially recorded at cost, and subsequently measured at fair value. If fair value cannot be reliably measured, assets are measured at cost less impairment.
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Kendal (Kirkland) Trust
Notes to the Financial Statements (continued)
Year ended 31 December 2024
3. Accounting policies (continued)
Investments (continued)
Listed investments are measured at fair value with changes in fair value being recognised in income or expenditure.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
A financial asset or a financial liability is recognised only when the charity becomes a party 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 measured at the cash or other consideration expected to be paid or received and not discounted.
Debt instruments are subsequently measured at amortised cost.
Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business 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 of the future payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised 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 individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
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Kendal (Kirkland) Trust
Notes to the Financial Statements (continued)
Year ended 31 December 2024
4. Donations and legacies
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
|---|---|---|---|---|---|
| Funds | 2024 | Funds | 2023 | ||
| £ | £ | £ | £ | ||
| Donations | |||||
| Donations | – | – | 55 | 55 | |
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| 5. | Other trading activities | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2024 | Funds | 2023 | ||
| £ | £ | £ | £ | ||
| Car park receipts | 81,545 | 81,545 | 90,062 | 90,062 | |
| Contract parking | 10,565 | 10,565 | 12,015 | 12,015 | |
| Rent from Cadent Gas Ltd (formerly | |||||
| National Grid) | 848 | 848 | 848 | 848 | |
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| 92,958 | 92,958 | 102,925 | 102,925 | ||
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| 6. | Investment income | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2024 | Funds | 2023 | ||
| £ | £ | £ | £ | ||
| Bank interest receivable | 8 | 8 | 8 | 8 | |
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| 7. | Costs of raising donations and legacies | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2024 | Funds | 2023 | ||
| £ | £ | £ | £ | ||
| Costs of generating income | 130,158 | 130,158 | 274,837 | 274,837 | |
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| 8. | Expenditure on charitable activities by fund type | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2024 | Funds | 2023 | ||
| £ | £ | £ | £ | ||
| Support costs | 2,671 | 2,671 | 3,215 | 3,215 | |
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| 9. | Expenditure on charitable activities by activity type | ||||
| Total funds | Total fund | ||||
| Support costs | 2024 | 2023 | |||
| £ | £ | £ | |||
| Governance costs | 2,671 | 2,671 | 3,215 | ||
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| 10. | Other expenditure | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2024 | Funds | 2023 | ||
| £ | £ | £ | £ | ||
| Bank charges | 204 |
204 |
127 |
127 |
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Kendal (Kirkland) Trust
Notes to the Financial Statements (continued)
Year ended 31 December 2024
11. Net gains on investments
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2024 | Funds | 2023 | |
| £ | £ | £ | £ | |
| Gains/(losses) on other investment | ||||
| assets | 24,688 | 24,688 | 59,544 | 59,544 |
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| Independent examination fees | ||||
| 2024 | 2023 | |||
| £ | £ | |||
| Fees payable to the independent examiner for: | ||||
| Independent examination of the financial statements | 2,070 | 1,970 | ||
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12. Independent examination fees
13. Trustee remuneration and expenses
No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.
14. Tangible fixed assets
| Land and | |
|---|---|
| buildings | |
| £ | |
| Cost | |
| At 1 January 2024 and 31 December 2024 | 3,062 |
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| Depreciation | |
| At 1 January 2024 and 31 December 2024 | – |
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| Carrying amount | |
| At 31 December 2024 | 3,062 |
|
|
| At 31 December 2023 | 3,062 |
|
15. Investments
| Other | |
|---|---|
| investments | |
| £ | |
| Cost or valuation | |
| At 1 January 2024 | 463,312 |
| Additions | – |
| Disposals | (50,000) |
| Fair value movements | 24,688 |
|
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| At 31 December 2024 | 438,000 |
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| Impairment | |
| At 1 January 2024 and 31 December 2024 | – |
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| Carrying amount | |
| At 31 December 2024 | 438,000 |
|
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| At 31 December 2023 | 463,312 |
|
All investments shown above are held at valuation.
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Kendal (Kirkland) Trust
Notes to the Financial Statements (continued)
Year ended 31 December 2024
16. Debtors
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Trade debtors | 7,035 | 6,331 |
| Prepayments and accrued income | 1,436 | 1,308 |
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| 8,471 | 7,639 | |
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| Creditors: amounts falling due within one year | ||
| 2024 | 2023 | |
| £ | £ | |
| Trade creditors | 16,472 | 8,778 |
| Social security and other taxes | 5,049 | 6,005 |
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21,521 |
14,783 |
17. Creditors: amounts falling due within one year
18. Analysis of charitable funds
Unrestricted funds
| Unrestricted funds | ||||||
|---|---|---|---|---|---|---|
| At | At | |||||
| 1 | January 202 | Gains and | 31 December | |||
| 4 | Income | Expenditure | losses | 2024 | ||
| £ | £ | £ | £ | £ | ||
| General funds | 491,384 | 92,966 | (133,033) | 24,688 | 476,005 | |
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| At | At | |||||
| 1 | January 202 | Gains and | 31 December | |||
| 3 | Income | Expenditure | losses | 2023 | ||
| £ | £ | £ | £ | £ | ||
| General funds | 607,031 |
102,988 |
(278,179) |
59,544 |
491,384 |
19. Analysis of net assets between funds
| Unrestricted | Total Funds | |
|---|---|---|
| Funds | 2024 | |
| £ | £ | |
| Tangible fixed assets | 3,062 | 3,062 |
| Investments | 438,000 | 438,000 |
| Current assets | 56,464 | 56,464 |
| Creditors less than 1 year | (21,521) | (21,521) |
|
|
|
| Net assets | 476,005 | 476,005 |
|
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| Unrestricted | Total Funds | |
| Funds | 2023 | |
| £ | £ | |
| Tangible fixed assets | 3,062 | 3,062 |
| Investments | 463,312 | 463,312 |
| Current assets | 39,793 | 39,793 |
| Creditors less than 1 year | (14,783) | (14,783) |
|
|
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| Net assets | 491,384 | 491,384 |
|
|
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Kendal (Kirkland) Trust
Notes to the Financial Statements (continued)
Year ended 31 December 2024
20. Related parties
During the year the Trust made contributions of £76,141 to the Kendal Parish Church (2023: £215,876). The Trust paid rent - share of net car park income of £38,393 (2023: £43,800) to the Parish Hall Trust. At the year end £14,393 (2023: £6,800) was owed to the Parish Hall Trust.
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