2021-12-31-accounts

Churchlands Portchester Charity No. 1181844

Trustees Annual Report for 2021

Church Lands Portchester was set up in the past (the earliest date found in the rather inadequate archive is 1809 when an enclosure award (PR VOL: 16 p.305) was recorded. The parcel of land was awarded to the Church Wardens and income from it would be paid to St. Mary’s Church, Portchester “in aid of the Church rates”. The asset became a parcel of land (approximately 2.4 acres), which was rendering no income at all for some years. In order to rectify this situation and to generate funds to meet the trust objective (see below), the land has been sold and the proceeds of this sale will be invested.

On the completion of the sale, the bank statement of 1[st] July 2021 (attached) records the transfer of £595,818.76 to the Trust’s bank account, which was paid into the account on July29th 2021.

Expenditure remains £7.00 per calendar month, starting from April 1[st] 2021 (= £84.00 p.a.) for the bank service charges.

The trustees are in negotiations with two separate Financial Advisors in order to use nearly all of the monies to raise income to meet the Trust Objectives of supporting the Church and Parish of St. Mary’s, Portchester.

The Trustees:

During the year the two ex-officio trustees were replaced by the new Church Wardens: Denise Simmonds and Maurice Bean. Of the two former Church wardens, Kay Walker ceased to be a trustee; Keith Phillips was unanimously elected as an Appointed Trustee and remains Chair and Contact.

The Trustees now are: Steven Traer, Jan Shephard, Andrew Rafferty, Keith Phillips, Denise Simmons and Maurice Bean.

The Trust Assets:

The parcel of land known as Churchlands has been sold and the monies placed in the Lloyds bank account (see below). The Trustees are seeking advice from two financial advisors St. James’s Place Wealth Management and Better Financial Planning Ltd. with the objective of investing the monies to raise income which will be used to meet the Trust’s objective of supporting St. Mary’s church, Portchester.

Finances:

The Trust continues to bank with Lloyds, using the same contacts: Sort Code: 30 90 89 A/c number: 41320768

Balance

Balance brought forward from Dec. ’20 £ 2,700.47 Bank charges from 19[th] Apr. ’21 (£7 pcm) Total £ 63 Proceeds of land sale: £595,818.76 £ 598,456.23

The Future:

Completion of the investment.

Discussion with the Parochial Church Council as to the most appropriate way to transfer the income for the best benefit of the Church and the parish.

Keith Phillips

Keith Phillips,

Chair and Trustee, Church lands, Portchester.

----- Start of picture text -----
Charity Name No (if any)
Church Lands Portchester 1181844
Receipts and payments accounts
For the period Period start date Period end date
To
from 1-Jan-21 31-Dec-21
Section A Receipts and payments
Unrestricted Restricted Endowment
Total funds
funds funds funds
to the nearest
to the nearest £ to the nearest £ to the nearest £
£
A1 Receipts
Sale of land 595,818 - - 595,818
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
595,818 - - 595,818
Sub total (Gross income for AR)
A2 Asset and investment sales,
(see table).
- - - -
- - - -
Sub total - - - -
Total receipts 595,818 - - 595,818
A3 Payments
Bank Charges 63 - - 63
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
Sub total [ 63 ] - - 63
A4 Asset and investment
purchases, (see table)
- - - -
- - - -
Sub total [ - ] - - -
Total payments 63 - - 63
Net of receipts/(payments) 595,755 - - 595,755
A5 Transfers between funds - - - -
A6 Cash funds last year end 2,700 - - 2,700
Cash funds this year end 598,455 - - 598,455
----- End of picture text -----

Section B Statement of assets and liabilities at the end of the period

			Unrestricted		Restricted
Categories	Details		funds		funds
B1 Cash funds	Bank Balance	Total cash funds	to nearest £ 598,455 - - 598,455		to nearest £ - - - -
	(agree balances with receipts and payments account(s))		OK	OK
			Unrestricted		Restricted
			funds		funds
B2 Other monetary assets	Details		to nearest £ - - - - - -		to nearest £ - - - - - -
B3 Investment assets	Details		Fund to which asset belongs	Cost (optional) - - - - -
B4 Assets retained for the	Details		Fund to which asset belongs	Cost (optional) -
charity’s own use					- - - - - - - -
			Fund to which		Amount due
B5 Liabilities	Details		liability relates		- - - - - (optional)
Signed by one or two trustees on behalf of all the trustees		Signature	Print	Name
			Keith	Phillips

CC16a Last year

Endowment funds

to nearest £ - - - -

OK

Endowment funds to nearest £ - - - - - -

Current value (optional) - - - - -

Current value (optional)

-

When due (optional)

Date of approval 2-May-23