REGISTERED CHARITY NUMBER.. 209188 REPORT OF THE TRUSTEES AND UNA DITED FtNANCIAL TATEMENTS FOR THE YEAR ENDE 31DE MBER 2024 HFORD PAROCHIAL C Cassidys Chartered AoUntartts South Stour oifices South Stour Road Mersham Ashford Kent TN25 7HS
ASHFORD PARO HI CHARITY NTENTS OF TH R THE YEAR E FINANCIA 31DE TATEMENTS R 2024 Page Report of th¢ Trustees I to 3 Independent Exarninevs Report Statement of Finan¢ial A¢tivities Balan¢¢ Sheet Notes to the Finan¢ial Statements 7 to 12 D¢tailed Statement of Financial Activities
ASHFORD PAROCHIAL CHARITY REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 The trustees present their report with the firtancial stat¢rn¢nts of the charity for th¢ yeaT ended 31 December 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities.. Stst¢m¢nt of Recommended Pra¢ti¢e applicable lo charitie5 preparing their accounts in accordance with the Finan¢ial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019). OBJECTIVES AND ACTIVITIES Objectlves and aims The objects of the ¢ornponent part of the charity aTe as follows '. l. Th¢ Church Land5, The annual income of the charity shall be applied in the maintenan¢¢ and repair of the fabrie of the Parish Church of Ashford. 2. The Sidney & Lillian Howland Trusts, a) CH - The object of the charity i$ to provide funds for the maintenance of the Patish ChUh of Ashford after all necessary expendittrre on the repair and upkeep of the Charitys propety. b) CH No 2 The object of the charity is to provide funds for the maintenan¢¢ and repair of the fabric of the Parish Chuwh of Ashford. 3. 'The RE Wieken Tt (CH), The Legacy in¢ome Shall be applied in the rnaint¢nan¢e and repair of the fabric of the Church of Saint Mary the Virgin. During the year the charity has been able to meet its, objectives by supporting the rnaiDt¢nance and repair of the fabric of the Parish Church of Ashford. In setting objectives and planning for activities, the Truste¢5 have given due considerdtion to general guidance published by the charity cornmission relating to public benefit. ACHIEVEMENT AND PERFORMANCE Going concern After making appropriate enquiries. the trustees have a reasonable expeeiation that the charity has adequate resourc to Continue in operational exist¢n¢e for the foreseeable future. For this reason they continu¢ to adopt the going concern basis in preparing the financial ststements. Fllrth¢r details regarding the adoption of the going concern basis can be found irt the Accounting Policies. Investment performanee The majority of the charity'5 fvnds are invested in freehold property, which generaied rent re¢eivable of £16.790 (2023 £16.323) during th¢ year and shares which generat¢d dividends receivable of £37,575 (2023 - £34.905) during the year. Freehold properties are stated at valuations provided by Messrs Taylor Riley, Chaffered Surveyors as at 23 January 2023. The share portfolios are managed by CCLA Investment M8nag¢ment Limited, M&G Charities and Canaccord Genuity Wealth Managernent. Investments, excluding properties. have increased in value and at 31 December 2024 arnount to £1,034,536 (2023 £982.183). Overall fvnd5 at the year end totalled £1,521,392 (2023 £1,492,985). The net 5urplU[defiCltj for the year. after costs of a¢tivitie5 in furtherance of the ¢harity's objectives and operational expenses of £67.845 (2023 - £43,267) was £28,407 surplus (2023 - £45,487 surplus). Page I
ASHFORD PAROCHIAL CHARITY REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 FINANCIAL REVIEW Reserves pollcy The trustees maintain reserves ai a level they deem sutTicient for the ture of the charity. li is the Charity's policy to maintain a balance of ai least 3 months average expenditure in current accounts held at Lloyds, to meet its day to day running costs. In addition the charity holds cash on deposit with their invesrment managers to fund large one-off repair costs and also to generate additional investment income. FUTURE PLANS The trustees are satisfied that the investment strategy adopted will enable them to continue with the stoied objects of the ¢hari¢ies in the future. STRUCTURE, GOVERNANCE AfiD MANAGEMENT Governlng document Under schemes established by the Charity Commissioners on 31 October 1890 and 9 April 1895, the property and investments fornierly admini5ter¢d as assets of 'The Church Lands, ¢harity were to be adminisi¢red as aets of Ashford Parochial Charities. At the same iime, the property and investments fornierly administered as assets of Richard Best {fowided 1574), Thomas Milles (1625), Sir Richard Smith, Martha Copley {1668). William Brett {1704) and John Barlow {18201 were to be administ¢red as asset of Ashford Parochial Charitie5, under the Poor Account. Subsequentlyi the Sidney and Lillian Howland Trusts were founded on 2 July 1975 following the death of Lillian Howland and these assets are also administered as part of Ashford Parochial Charities. Reerultmellt and appolntment of new trustees The board of trustees is made up of four tru5tee5 frotn the Borough Council, three tN5tees which include the Rector of Ashford and two Church Wardens. and the remaining trustees are individuals with local knowledge. The appointtnent of the trustees from the Council takes place with the Council and the appointtnent of the Rector of Ashford and chUh WariSeDS 15 automatic with their position. For an individual to be appointed, they must be proposed by one of the existing trnstees. then seconded by an existing bStee. and all other trustees must agree. REFERENCE A]YD ADMINISTRATIVE DETAILS Registered Charity number 209188 Prlnclpal address 115 Faversham Road Kenninglon Ashford Kent TN24 9DE Trustees R Blount B J Heyes L W Krause J D Hudson Rev. Canon J Worthen Miss C S Hannah JKFOX Dr C J Hallett Cllr E E Wright Page 2
ASHFORD PAROCHIAL CHARITY REPORT OF THE TRUSTEES FOR THE YEAR ED 31 DECEMBER 2 REFERENCE AND ADMINISTIL4TIVE DETAILS Independent Exgrniner S G Whorlow FCA Cas5idys Chartered Accountants South Stour Office5 South Stour Road Mersham Ashford Kent TN25 7HS Approved by order of the board of trustees on ....... and Sied on its behalf by.. Rev. Canon J Worthen- Trustee Page 3
DEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF HFORD PAROCHIAL CHARITY Independent examiner's report to the trustees of Ashford Parochial Charity I report to the charity trustees on my examination of the aOUnts of Ashford Paro¢hial Charity (the Trust) for the year ended 31 December 2024. Responsibilitiu and basis of report As the ¢harity trustees of the Trust you are responsible for th¢ preparation of ihe ac¢ounts in accordanee with the Tequirements of the Charities Act 2011 ('the Act.). report In respect of my examination of the Trust's accounis carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable DIrtionS given by th¢ Charity Commission und¢r Section 145(5}(b) of the Act. ldependent examiner's statement I hav¢ ¢ompleted my examination. I confirm thai no material matters have come to tny attention in connectson with the examination giving me cause to believe that in any material respect.. a¢wunting records were not kept in respect of the Trust as Tequired by Section 130 of the Act,. or the accounts do not ac¢ord with those record5- or the a¢¢ounts do not comply with th¢ applicable requirements ¢on¢erning the fom and ¢ont¢nt of accounts set out in the Charities (Accounts attd Reports) Regulations 2008 other than any requirement the accounts give a true Jjd fair view whi¢h is not a matter considered as part of an independent ¢xamination. I have no concerns and have come across no otheT matters in connection with the examination to which attention should be drawn in this report in order to enable 8 proper understanding of the accounts to be reached. S G Whorlow FCA Cassidys CharteTed Accountants South Stour Offices South Stour Road Mersha Ashford Kent TN25 7HS Dat¢.. Page 4
ASHFORD PAROCHIAL CHARITY STATEMENT F FAN LA TIVITIE FOR THE YEAR ENDED 31 DECEMBER 2024 31.12.24 Total funds 31.12.23 Total funds Unrestricted nds Restricted funds Notes INCOME AND ENDOWMENTS FROM Investrnent income 33,687 23,342 57.029 52.906 EXPENDITURE ON Raising funds 4,228 4,185 8,413 11,809 Other 31,083 28,349 59,432 31,458 Totgl 35,311 32.534 67.845 43.267 Net gains on investments 25,829 13,394 39,223 35.848 NET INCOME 24,205 {515) 4,202 515 28,407 45.487 Transfers between funds Net movement in funds 23,690 4,717 28,407 45,487 RECONCILIATION OF FUNDS Total funds brought forward 950,371 542,614 1,492,985 1,447,498 TOTAL FUNDS CARRIED FORWARD 974,061 547,331 1,521,392 1.492.985 The notes forni part of these fmancial statements Page 5
ASHFORD PAROCHIAL CIIARtTY BALAN IDE HEE BE 31.12.24 Total funds 31.12.23 Total fimds Unrestri¢ted Restri¢ted fimds Not¢s FIXED ASSETS Investment propety 380.000 380,000 380,000 CURRENT ASSETS Investments Cash at bank 527.874 67.172 506,662 41.184 1,034.536 108,356 982.183 132,302 595,046 547.846 1,142,892 1,114,485 CREDITORS Amounts falling due within one year (985) (515) (1,500) (1,500) NET CURRENT ASSETS 594,061 547.331 1,141,392 1,112,985 TOTAL ASSETS LE CURRENT LIABILITIES 974.061 547,331 1,521,392 1,492.985 ET ASSETS 974,061 547,331 1,521,392 1,492.985 FUNDS Ut]restricted fvnds Re5tri¢ted fund5 974,061 547,331 950,371 542.614 TOTAL FUNDS 1,521,392 1.492,985 Th¢ ial $tatem¢ w¢r¢ approved by the Board of Trustee5 and authorised for issue . and were signed on its behalf by.. on Trust The notes fornj part of these finan¢ia] statemenls Page 6
ASHFORD PAROCHIAL CHARITY NOTES T FOR THE Y THE FINANCIAL STATEMENTS AR ENDED 31 DECEMBER 2024 ACCOUNTING POLICIES Basls ofpreparing the flnanci81 statements The fll)ancial statements of the ¢haTity. which 15 a public benefit entity under FRS 102. have been PTepared in accordance with the Charities SORP {FRS 102) 'A¢counting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their a¢¢ounts in a¢¢ordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effectiv¢ l January 2019),, Financial Reporting Standard 102 'The Financial Reporting Standard appli¢able in the UK and Republic of Ireland, and the Charities Act 2011. The financial statements have been prepared under the historical cost ¢onvention. Income All incorne is recognised in the Statement of Financial Activitie5 once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. Expenditure Liabilities are recognised as expenditure as soon as there 1$ a legal or ¢onstructive obligation Committing the charity to that expenditure, it is probable that a transfer of economic benefits will be requir¢d in settlement and the amount of the obligation can be measured reliably. Expendire is accounted for on an arua]S ba515 and has been classified wjder headings that aggate all cost related to the category. WheTe costs camiot b¢ directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Investment property Inv¢sttnent propety is shown at most re¢ent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognis¢d in the Statem¢nt of Financial Activities. T¥xation The charity is ex¢rnpt from lax on its charitable activities. Fund a¢coMnting Unrestricted fijnds can be used in accordance with the charitable objectives at the dis¢retion of the trustee5. Restri¢t¢d funds can only be used for particular restricted PUTW)ses within the objects of the ¢harity. Restriction5 arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fvnd 15 included in the notes to the financial statements. INVESTMENT INCOME 31.12.24 31.12.23 Rents received Deposit account interest Dividend5 received 16.790 2.664 37,575 16,323 1,678 34,905 57,029 52.906 Page 7 continued...
ASHFORD PAROCHIAL CHARITY NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR END I DECEMBER 2024 RAISING FUNDS Investment Management costs 31.12.24 31.12.23 Portfolio manag¢m¢nt Property repairs 8,225 188 7,646 4,163 8,413 11,809 TRUSTEES, REMUNERATION AND BENEFITS There were no trustees. remuneration or other benefits for the year ended 31 December 2024 nor for the year ended 31 December 2023. Tru$tse5' expenses There were no trustees, expenses paid for the year ended 31 Decemb¢r 2024 nor for the year ended 31 D¢¢eJnber 2023. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES UnTestricted fijnds Restricted funds Total funds INCOME AND ENDOWMENTS FROM Investment income 30,941 21,965 52,906 EXPENDITURE ON Raising fijnds 7,812 3,997 11,809 14,174 17,284 31.458 Total 21,986 21,281 43,267 Net gaiu5 on inv¢stm¢nts 32,777 3,071 35.848 NET INCOME Trallsfer$ between funds 41,732 1515) 3.755 515 45.487 Net movement in funds 41,217 4,270 45,487 RECONCILIATION OF FUNDS Total funds brought forw8xd 909,154 538,344 1,447,498 TOTAL FUNDS CARRIED FORWARD 950,371 542,614 1,492,985 Page 8 continued...
ASHFORD PAROCHIAL CHARITY NOTES TO THE FINANCIAL STATEMENTS - Continued FOR THE YEAR ENDED 31 DECEMBE 2024 INVESTMENT PROPERTY FAIR VALUE Ai l January 2024 and 31 tkcember 2024 380.000 NET BOOK VALUE At 31 December 2024 380.000 At 31 December 2023 380.000 Fair value at 31 Dxember 2024 is represented by.. Valuation in 2018 Va]uation in 2022 Cost 79.000 80.000 221,000 380,000 CURRENT ASSET INVESTMENTS 31.12.24 31.12.23 Listed investments 1.034,536 982.183 CREDITORS: AMOUNTS FALLtNG DUE WITHIN ONE YEAR 31.12.24 31.12.23 Other creditors 1,500 1,500 MOVEMENT IN FUNDS Net movement in funds Transfers between fijnds Ai 31.12.24 At 1.1.24 Unr¢5tricted funds S&L Howland I Churchlands 438,661 511,710 (3,875) 28,080 (1,075) 560 433,711 540,350 930,371 24.205 (515) 974.061 Restricted funds S&L Howland 2 Wi¢ken Trust 319,186 223,428 7,201 (2,999} 265 250 326,652 220,679 542.614 4,202 515 547,331 TOTAL FUNDS 1,492,985 28,407 1.521.392 Page 9 continued...
HF RD PAROCHIAL CHARITY TES TO THE FINANCIAL STATEMENTS- c ntinu¢d YEAR ENDED 31 DECEMBER 2024 MOVEMENT IN FUNDS - eontlnued Net movement in fijnds, included in the atx)ve are as follows". Incoming Tesources R¢sour¢es expended Gains and losses Movement in ndS UnrestTiCted funds S&L Howland I Churchlands 18,836 14,851 (22,711) (12,600) (3,875} 28,080 25,829 33,687 (35,311) 25.829 24.205 Restricted funds S&L Howlond 2 Wicken Trust 14.570 8,772 (18,586) (13,948) 11,217 2,177 7,201 (2,9991 23,342 (32,534) 13,394 4,202 TOTAL FUTr4DS 57.029 (67.845) 39,223 28,407 Cornparatlves for movement In fund$ Net movement in fijnth Transfers between funds At 31.12.23 At 1.1.23 Unrestrieted funds S&L Howland I Churchlands 431,992 477,162 7,744 33,988 {1.075) 560 438,661 511,710 909,154 41,732 {515) 950,371 Restrleted fund$ S&L HowlaDd 2 Wicken TNst 311,028 227,316 7,893 (4,138) 265 250 319,186 223,428 538.344 3,755 515 542,614 TOTAL FUNDS 1,447,498 45,487 1,492,985 Page 10 continued...
HF RD PAROCHIAL CHARITY NOTES TO THE FfNANCIA FOR TATEMENT - continued EMBER 2024 MOVEMENT IN FUNDS- contlnued Comparative net movernent in fid&, included in ihe above are as follows.. Incoming resources Resources expended Gains and losse5 Movement in fvnds Unrestricted funds S&L Howland I Churchlands 17.521 13,420 (9,777) {12,209) 7,744 33,988 32,777 30,941 (21,986) 32,777 41.732 Restrieted funds S&L Howland 2 Wi¢ken Trust 13,578 8,387 (8,853) (12,428) 3,168 (97) 7,893 (4,138) 21,965 (21,2811 3,071 3,755 TOTAL FUNDS 52.906 (43,267) 35,848 45,487 A ¢urrent year 12 months and prior year 12 months combined position is a5 follows.. Net movement in ndS Transfers between funds At 31.12.24 Atl.1.23 Unre5trictsd funds S&L Howland I Churchlands 431,992 477,162 3,869 62,068 (2,150) 1,120 433,711 540.350 909,154 65.937 (1,030) 974,061 Restrlcted funds S&L Howland 2 Wi¢ken T$t 311.028 227,316 15,094 (7.137) 530 500 326,652 220,679 538,344 7.957 1,030 547,331 TOTAL FUNDS 1,447,498 73,894 1.521.392 Pag¢ll ¢ontinued...
ASHFORD PAR CHIAL CHARITY NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2024 MOVEMENT IN FUNDS- CODtinued A current year 12 rnonth5 and prigr year 12 months combined net movement in funds, included in the above are as follows.. Incoming resources Resources expended Gains and losses Movement in funds Unrestrieted thnds S&L Howland I Chur¢hlands 36,357 28.271 (32.488) (24,809) 3,869 62,068 58.606 64,628 (57,297) 58,606 65,937 Restrlcted funds S&L Howland 2 Wicken Ttwt 28,148 17,159 (27,439) (26,376) 14,385 2,080 15,094 (7.137) 45,307 (53,815) 16.465 7.957 TOTAL FUNDS 109.935 75.071 73.894 io. RELATED PARTY DRSCLOSURES There were no related paty transactions for the year ended 31 December 2024. Page 12
HFORD PAR HIAL HAIUTY DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED IDE EMBER2 31.12.24 31.12.23 INCOME AND ENDOWMEf4TS Investment ineome Rents received Deposit account interest Divid¢nds r¢¢¢iY¢d 16,790 2,664 37,575 16,323 1,678 34.905 57,029 52.906 Total ineoming resourees 57,029 52,906 EXPENDITURE Investment management costs Portfolio management Property repairs 8,225 188 7.646 4,163 8,413 11.809 Other Wages It]suranee Clerks expenses Ashford PCC 1,966 1,824 85 54,057 1,880 1,975 74 24.769 57,932 28,698 Support ¢osts Governance costs Accountan¢y and legal fres 1,5(H) 2.760 Total resour¢es expended 67.845 43,267 Net (expenditureyincome before gains and 1055es (10,816) 9,639 Realised recogni5ed g&in5 and losses R¢3lis¢d gain51(losses) on fixed asset investments 39,223 35,848 Net income 28,407 45,487 Thi5 page does not forni part of the statutory financial statements Pag¢ 13