SIR EDGAR STROUD PLUMMER CHARITABLE TRUST FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30Th JUNE 2024 Charlty number 1203365
SIR EDGAR STROUD PLUIAMER CHARITABLE TRUST FINANCIAL STATEPAENTS FOR THE PERH)D ENDED 30TH JUNE 2024 Contents Pagè Rep¢)rt of the Trustee Report of the Independenl Examirwts Statement of Financial Actiwties ance Sheet Notes to the Financial Statements 14 9-10
SIR EDGAR STROUD PLUMMER CHARrrABLE TRUST REPORT OF THE TRUSTEE FOR THE PERIOD ENDED 30TH JUNE 2024 The twst is registered as a charty under referee number 1203365. Trustees durir¥J the periJ: Ludlow Trust Company Limtied (resigned 12 December 2023) Church Society {appointed 12 Decembèr 20231 Roglslered Offi¢8 GrouTrJ Floor, Centre Bbxk Hille Business Estate 132 St. Albans Road Watfor(I WD24 4AE The principal professional thisers to the ¢rusl are: Bankern: Bardays Bank plc 62164 High Slr88t Wattord WD17 2BT Sollcltors: 10 The Point Market Hartough LE16 7QU IndeporKlent exanmnor: JCS Actsntants Limited S Robin Hcod Lane Sutton Surrey SM12SW Page 1
SIR EDGAR STROUD PLUMMER CHARITABLE TRUST REPORT OF THE TRUSTEE FOR THE PERIOD ENDED 30- JUNE 2024 Structure, govomance and managwnent The Sir Edgar Stroud Plummèr Charitable Trust was eslablished by vdll proved on 27 August 1940, as govemed by the Trust 088d. Trustees are to be appointed by the )ntinUIng trustee. Decisions on matters of policy and grants to ben8fickgries a made at meetmgs (physical or virtuall of the trusloes of Church lety or through correst#)nder beeen them. Rlsk Management The trustee has ccmsidered the levels of varM)us risks relatir#J to the aclivities of the trust and investments held to fund Ihose acbvities. They are satisfied wth the arrangements made to minimise, miligate and insure 3ainst those risks bul have agreed to keep Situati under regular review. Objectives and act5vftks To advance the Christban Faith for the pul1¢ benefft in alrdar with the tern of the will of Sir Edgar Plurnmer proved in the dislricl probate regislry at Exeter on * May 1940. Policies Church Society (charity no. 249574) has a range of p)licies, induding a Finan Policy and Investment Policy. which have been followed within the day-to&y activities of the Charitable TNSI. li b nefft The Iruslee confims that they have referred to the guidance cxmtaine(l in the Charity Commission's general guidance on public benefft and have given due considerat*)n to this gukdance in relation to th8 public benefit requirement. and in wnning Ihe Charity arKI reporting ts a¢tivrties. Achlevem6nts and perfomian¢e Church Society is the ultimats capital beneficiary of the Sir Edgar Hummerwill Trust. The main requirement of the Will is that the income of the charity is given to the Daily Prayer Union (charity r. 284857). On 16" March 2023, Church Society and the Daily Prayer Union Tnjstees sTrgned a Memorandum of UThderstanding. In which both parties agreed to appoint Church Society as Trustee of the Sir Edgar Plummer Will Trust in pla of Ludlow Trust Company Ltd. This occurred on 12° December 2023. Page 2
SIR EDGAR STROUD PLUMMER CHARrrABLE TRUST REPORT OF THE TRUSTEE FOR THE PERIOD ENDED 30TH JUNE 2024 (conlinued) Flnanclal rovlew er t financial period from 10° May 2023 to 3 June 2024, income was £56.431, cornpared to the prior year. 10 May 2022 to W May 2023 in which income was £38,863. In both years the irKome consisted of investment ino)me from listed and cash nvestments. During the current financial perioj. grant expenses to the Daily Prayer Union were £53.221 which was an Thyease of40% from £37,9 in the previous year. There were a variety ofone<Jff costs during the current yearas it was a year oftransltn. There were also significant investment additions and disposals during the year due io the change in Trustee and their manag8mènt of the fuThJ. but overall. the investments gain in value vras £16.655 during the period compared to a £44.781 loss in the previous pericd. Reserves Poli The income of the fund is for the use of th8 Daity Prayer Unl. The ErKhJvment can ower the expenses of running the Charitable Trusc for example, legal and accounting fees and the management fee. The overall aim ¢)utsid8 these expenses is to grow th8 fund. The reserves held as at 30" June 2024 were £1,633,542. Investment Poli Church Socievs Finan Cc¥nmittee overseas the invesknent of Ihe fvnds and has an investment policy in place. Inveslments are reviewed at leasl annualty and regular r8WtrKJ is provided. Grant Poli The aim of the charity is to invest the fuThJ. in order to be able to provide grants to the Daily Prayer Union. Post Balanc8 Sheet Event On 26° Noverrthr 2024, Church Society agreed to start the prrKess to merge the Sir Edgar Stroud Plummer Charitsble Trust into its own accwnts Wthere il will be alxounled for as erKJ¢)wm&nt fund. Page 3
SIR EDGAR STROUD PLUMMER CHARITABLE TRUST REPORT OF THE TRUSTEE FOR THE PERIOD ENDED 30TH JUNE 2024 {continL*d) Trustso Msponsibilities The trustee is responsible for preparing the Trustee Report and the financlal ststements in accordance viith applicabl8 law and United Kingdom AOunting StaThJard$ (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities n EnglaTrJ and Wales requires the trustee to prepare financial statements for each financial year which give a true and fair view of the stale of affairs of the trust and of the incoming resour$ and application of resources of the trust for that peri1. In preparing these financial statements, the trustee is required to: • select suitable acQnI1ng polici6s and apFdy them consislenty • observe the melhods and principles in the Charities SORP • make judgements and estimates that are reable and pruden( • state whether applicable lUnting standards have been followed. subject to any material departures disdosed and explained in the financial statements; • prepare the financial statements on the concem basis unless it is inappropriate to presume that the trust will continue in existence. The trustee is resFrt)nsible for keeping proper acrouniing rec4)rds whth disdose wilh reasonable accuracy at any time the financial position of the trust and enable them lo ensure that the financial slaternenls comply with the Charities Act 2011, the Charity (AcciAAnts and Repkns) Regulati($ 2008 and the provisions of the trust deed. They are also $psIble for safeguarding the assets ofthe trust arKI hence for taking reasonable steps for the prevention and detection of fraud and other irr8gulariti8S. FOR AND ON BEHALF OF ThE TRUSTEE T(nr Revd A P J Towner, Trustee of Church Society Date: 14" March 2025 Page 4
INDEPENDENT EXAMINER'S REPORT FOR THE PERIOD ENDED 30 JUNE 2024 SIR EDGAR STROUD PLUMhER CHARITABLE TRUST Independent examlnoes report to the TnAStee of Sir Edgar Stroud Plummer Charilablo Twst I report to the charty trustee on my examination of ts a(x0ts of the church ft)r the period ended 30 June 2024. Responslblllties and basls of report As Ihe charity's trustee you are responsible for the preparation of the accounts in accordance with the requirements of the Charknes Acl 2011 (Ihe Act.). I report in resped of my examination ofthe thurch's accounts as carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commisston under section 145(5)(b) of the Act. Independent examlneVs statement I have cc#npleted my examinalion. I confim that no matters have Come to my attention in connection with the examination giving me cause to beIve that in any material respect: 1. accounting records were not ke0 in respect of ts church as required by secb'on 130 of thè Act: or 2. the accounts do not accord b*ith those re¢d$.. or 3. the accounts do not comply with the applKable requirements conr£ming the fomi and content of accounts set oul in the Charrties (Accounts and Report) RegatiOnS 2008 other than any requirement that Ihe accounts give a Iwe ar¥J fair view, which is not Matt considered as part of an IrKIepeIent exanlnat1. I have no concerns and have come acfOSS no Oth matters in Connection wth the examination to which attention shoukl be drawn in this report in order to enable a prorEr urthrstanding of the accounts to be reached. R l Haffonden FCA CTA Jacob Cavenagh & Skeet 5 Robin Hood Lane Sutton Surrey SM12SW 24" March 2025 Page 5
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SIR EDGAR STROUD PLUMMER CHARrrABLE TRUST BACE SHEEr AS AT 30TH JUNE 2024 30 June 2024 9 May 2023 Flxed assets Investments 1.W,288 1,644,283 Currènt assets Cash at bank and in hand DebtOTS 87,3 11.973 103,601 11,973 Crodltors: Amounts falling due within one year 10 799) Net current assets Net assets Endowment Fund The financial siatements V•Ere approved by Ihe trustee 14 Marth 2025 and signed on Iheir behalf by: /Ind*6 TcpJn6r Revd A P J Towner Church Society Page 7
SIR EDGAR STROUD PLUMMER CHARrrABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30TH JUNE 2024 ACCOUNTING POUCIES (al A¢countlng convention The financial statements have been prepa under the Charities Act 2011 and in accordance with the Charities. Statement of Recommended Practice {Charilies SORP IFRS 102) and Financial Reporting Standard 102 (FRS 102>. The finanual statements are drawn up on tP historical cost basis of accounting, as modified by the revaluatTh of fixed asset investments. The financial slalements are prepared in pounds sterfing, rounded to the nearest pound. The financial statements are prepared on a gcing COnM basis and ihore ar8 no material uncertaintiès abcNJt the charity's ability to continu8. Sir Edgar Stroud Plummer CharItae Trust nts the definiti(Jn of a public benefrt entity under FRS 102. {b) Income All income is accounted for when it is receivab. (c) Expendlture {1) Grants are recognised when they a apwoved and corrltments are made to beneficiaries. (li) Support costs are apFMJrticffth in prop[KIn to the dir1 costs asscoaled wth each activity. (d> Investmofbts Listed investments are shovm at mathetvalue. Investmenl properties are shown al truslee's valuation. Changes in market value are shown as unrealised gains losses in the slalemenl of financial activitiés. (e) Debtors Tax reojverable and other debtors are induded at the setdem8nt amounl due. PrepayrtnIS are valued at the amount prepaid. (Q Cash and current asset Invosljnents Cash and current asset investments Ind tssh and strmyt twm highly IKiuid investments with a short mabjrity of three rrnnlhs or ths from Ihe date of opening of detx)sit. (g) Creditors and provlslons Creditors and provisions are recognised there the charity has a present Obligati arising from a past event that will probably result in the transfer of funds to a third paty and the amount due lo setlle the obligation can be measured or estimated reliab. Credith ar¥J pn)visions are recc¥Jnis8d al their settlement anK)unl. Page 8
SIR EDGAR STROUD PLUMMER CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30TH JUNE 2024 Cltinl CHARITABLE ACTMTIES Undertaken fundlng dlreclly of a¢Ovllt¢s 10 May 2023 to 30 June 2024 10 May 2022 to 9May 2023 Ministy Support activities 53.221 53,221 37.969 Support costs comprise.. Trust Administration Fees Governan cost: Legal Fees Governan cost: Independent Examinat Fee 11.103 6.387 1.775 GRANTS TO INSTITLMONS 10 May 2023 to 30 June 2024 10 May 2022 to 9Alay 2023 Daily Prayer Union EMPLOYEES. AND TRUSTEE TRANSACTIONS The were M employees during the year. The trustees received a managenl fee of £8,246 from thè dwrity during the year. Page g
SIR EDGAR STROUD PLUMMER CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30TH JUNE 2024 (x)nlinued INVESTMENTS 30 June 2024 30 June 2024 30 June2024 Market valu• of Ilstod Inveslnients Cash Listed Investment 1.644.283 1,6eli,505 (2.241,527) Total At 1 May 2023 Additions Disposals Net {lossesygains on revaluati. AI 30th June 2024 1.644,283 2.146.493 (2,241.527) 485.988 Historlcal cost DEBTORS ANO PREPAYMENTS 30 Jun• 2024 9 May 2023 Accrued income CREDITORS: Anunts falling due within year 30 June 2024 9 May2023 Accruals Grants payable ac£ruals Other creditors 9,746 18.601 00 10.799 Page 10