DocuSign Envelope ID: 55E23FC2-6528-4475-8E17-0EAB47144D46 **THE PARISH OF WANSTEAD ST MARY WITH CHRIST CHURCH WANSTEAD COTTAGES TRUST-CIO INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2022 CHARITY NUMBER 1192394** DocuSign Envelope ID: 55E23FC2-6528-4475-8E17-0EAB47144D46 Page: 1 ## **THE PARISH OF WANSTEAD ST MARY WITH CHRIST CHURCH WANSTEAD COTTAGES TRUST - CIO REGISTERED CHARITY NUMBER 1192394** **TRUSTEES** Rev J Gilder (Chair) (appointed 6 October 2022) Mrs D Middleditch Dr B Hepworth Jones Mrs M A Carnelley **REGISTERED OFFICE** Parish Office, Christ Church Wanstead Place Wanstead London E11 2SW ## **CHARITY REGISTRATION NUMBER** 1192394 **BANKERS** CAF Bank Ltd 25 Kings Hill Avenue Kings Hill West Malling, Kent ME19 4JQ **INDEPENDENT EXAMINER** Lorraine Catherine Purdy FCCA Chartered Certified Accountant Suite D, The Business Centre Faringdon Avenue Romford Essex RM3 8EN ## **CONTENTS** **Pages 2-4** Trustees Report - **5** Independent Examiner's Report - **6** Statement of Financial Activities - **7** Balance Sheet - **8** Notes to the Accounts DocuSign Envelope ID: 55E23FC2-6528-4475-8E17-0EAB47144D46 Page: 2 ## **THE PARISH OF WANSTEAD ST MARY WITH CHRIST CHURCH WANSTEAD COTTAGES - CIO Registered charity number 1192394** **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31[st ] DECEMBER 2022** ## **Trustees** Rev James Gilder ( Chair ) from 6[th] October 2022 Mrs Margaret Avril Carnelley Mrs Diana Middleditch ( Treasurer ) Mrs Barbara Hepworth New trustees are appointed by the existing Trustees ## **Trust Objectives** 1. Maintenance of Wanstead Church of England Schools or educational or charitable purposes in connection with such schools 2. Maintenance of any Church of England School or Schools in the Diocese of Chelmsford or for educational or charitable purposes in connection with such schools 3. Religious education of any child attending any school in the Diocese of Chelmsford 4. Such religious educational or charitable purpose as the Bishop of Chelmsford may on being requested by the Trustees so to do select ## **Related Parties** The Trust continues to maintain its close relationship to the Ecclesiastical Parish of St Mary with Christ Church Wanstead. ## **Activity During the 2022 Year** The Trustees converted the Trust (charity number 1123053) to a Charitable Incorporated Organisation (CIO) (charity number 1192394) during 2020 and transferred the Trust assets to the CIO with effect from 8 July 2021. The comparatives in these accounts reflect the CIO transactions for the period 8 July to 31 December 2021. The trustees met twice during the year. Rental income increased by 2% compared to 2021 The grant made to Wanstead Parish for youth work was increased to £3,740.00 as youth work began again in the Parish following the lifting of COVID restrictions. The trustees considered the grant requests from Wanstead Parish carefully to ensure these were in line with the Trust’s charitable objectives. DocuSign Envelope ID: 55E23FC2-6528-4475-8E17-0EAB47144D46 Page: 3 # **THE PARISH OF WANSTEAD ST MARY WITH CHRIST CHURCH WANSTEAD COTTAGES - CIO Registered charity number 1192394** ## **REPORT OF THE TRUSTEES** ## **FOR THE YEAR ENDED 31[st ] DECEMBER 2022** The Trustees approved a grant of £20,000 to Wanstead Church School to help with urgent boiler and roof repairs. This supports the first objective of the charitable Trust. The trustees continue to use local estate agents Petty Son and Prestwich to assist with the management of the properties. Selective property licenses for both properties have been granted by the London Borough of Redbridge. ## **Public Benefit** The Trustees have complied with the duty in Section 17 of the Charities Act 2011 to have due regard to public benefit guidance published by the Charities Commission. They have referred to the guidance in the Charity Commission’s general guidance on Public Benefit when reviewing the Trust’s aims and objectives and in planning future activities. ## **Reserves Policy** The Trust’s policy , reviewed in January 2023, is to maintain sufficient reserves to cover its operational assets for at least the following 24 months. At present this is defined as £35,000. At the year end, the Trust had sufficient reserves to comply with this policy. The level of reserves is kept under close scrutiny by the Trustees. ## **Risk Management** The Trustees have examined the major operational, strategic and business risks the Trust faces and confirm that appropriate systems are in place to mitigate the effects of these risks. ## **Trustees’ Responsibilities in Relation to the Financial Statements** Law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial period, which give a true and fair view of the charity’s financial activities during the period and of its financial position at the end of the period. In preparing those financial statements, the trustees are required to: - Select suitable accounting policies and then apply them consistently; - Make judgements and estimates that are reasonable and prudent; - State whether applicable accounting standards and statements of recommended practice have been followed subject to any departures disclosed and explained in the financial statements; and - Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. DocuSign Envelope ID: 55E23FC2-6528-4475-8E17-0EAB47144D46 Page: 4 ## **THE PARISH OF WANSTEAD ST MARY WITH CHRIST CHURCH WANSTEAD COTTAGES - CIO Registered charity number 1192394** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31[st ] DECEMBER 2022** The Trustees of Wanstead Cottages Trust are responsible for keeping accounting records which disclose with reasonable accuracy at any time the financial position of the Trust and enable them to ensure that the financial statements comply with the Charities Act of 2011. They are also responsible for safeguarding the assets of the Trust and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by the Trustees of Wanstead Cottages Trust and signed on their behalf by: Rev James Gilder ............................................. 11/5/2023 Date: ........................................... DocuSign Envelope ID: 55E23FC2-6528-4475-8E17-0EAB47144D46 Page: 5 ## **THE PARISH OF WANSTEAD ST MARY WITH CHRIST CHURCH WANSTEAD COTTAGES TRUST - CIO REGISTERED CHARITY NUMBER 1192394** ## **INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2022** I report to the trustees on my examination of the accounts of the charitable incorporated organisation (CIO)for the year ended 31 December 2022 which are set out on the following pages. ## **Responsibilities and basis of report** As the CIO’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’). I report in respect of my examination of the CIO’s accounts carried out under section 145 of the 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: 1. accounting records were not kept in respect of the CIO as required by section 130 of the Act; or 2. the accounts do not accord with those records; or 3. the accounts 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. ## **Lorraine Catherine Purdy FCCA Clay Ratnage Strevens & Hills** Suite D, The Business Centre Faringdon Avenue Romford Essex RM3 8EN Date: 11/5/2023 DocuSign Envelope ID: 55E23FC2-6528-4475-8E17-0EAB47144D46 Page: 6 ## **THE PARISH OF WANSTEAD ST MARY WITH CHRIST CHURCH WANSTEAD COTTAGES TRUST - CIO** ## **REGISTERED CHARITY NUMBER 1192394** ## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022** **----- Start of picture text -----**
Unrestricted Restricted
Funds Funds Total 2022 Total 2021
£ £ £ £
Incoming resources
Rent No 1 17,577 - 17,577 6,573
Rent No 2 12,159 - 12,159 8,296
Interest received 185 - 185 2
Total income -
29,921 29,921 14,871
Resources used
Grant to Wanstead Church School 20,000 - 20,000 -
Grant to Wanstead Parish - Red Balloon 3,740 - 3,740 (662)
-
Landlord repairs and improvements 6,356 6,356 3,476
Landlord insurance 693 - 693 671
-
Management fees 3,212 3,212 2,086
Bank charges 81 - 81 48
Independent examination fee 1,440 - 1,440 720
Legal and Professional fees 900 - 900 -
Total expenditure 36,422 - 36,422 6,339
Net movement in funds -
(6,501) (6,501) 8,532
Total funds brought forward at 31 December 2021 1,240,557 - 1,240,557 1,232,025
Total funds carried forward at 31 December 2022 1,234,056 - 1,234,056 1,240,557
**----- End of picture text -----**
DocuSign Envelope ID: 55E23FC2-6528-4475-8E17-0EAB47144D46 Page: 7 ## **THE PARISH OF WANSTEAD ST MARY WITH CHRIST CHURCH WANSTEAD COTTAGES TRUST-CIO REGISTERED CHARITY NUMBER 1192394** ## **BALANCE SHEET AS AT 31 DECEMBER 2022** |**2022**
**FIXED ASSETS**
**£**
Freehold property
1 Church Path
575,000
2 Church Path
600,000
1,175,000
**CURRENT ASSETS**
Cash at bank and in hand
59,056
**TOTAL NET ASSETS LESS LIABILITIES**
**1,234,056**
**REPRESENTED BY**
Unrestricted funds
1,234,056
**TOTAL FUNDS**
**1,234,056**
**Approved by the Committee of Trustees and signed on its behalf by:**
**Rev James Gilder**
**Date of approval:**
11/5/2023|**_2021_**
**_£_**
_575,000_
_600,000_
_1,175,000_
_65,557_
**_1,240,557_**
_1,240,557_
**_1,240,557_**| |---|---| DocuSign Envelope ID: 55E23FC2-6528-4475-8E17-0EAB47144D46 Page: 8 ## **THE PARISH OF WANSTEAD ST MARY WITH CHRIST CHURCH WANSTEAD COTTAGES TRUST-CIO REGISTERED CHARITY NUMBER 1192394** ## **NOTES TO THE ACCOUNTS YEAR ENDED 31 DECEMBER 2022** ## **1 Accounting policies** ## **a Basis of preparation** The accounts have been prepared on a receipts and payments basis and in accordance with the Charities Act 2011 ## **b Guarantees** The CIO confirms that no guarantees have been entered into giving rise to any liability arsing at the balance sheet date. ## **c Securities** The CIO confirms that no debts have been secured against the assets of the charity by way of an express charge. ## **d Fixed assets** These are comprised of investment property which is included at best estimate of market value as determined by the Trustees.