OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2021-12-31-accounts

Charity number: 211409

THE CHURCH LANDS CHARITY

ANNUAL REPORT OF THE TRUSTEES AND STATEMENT OF ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2021

THE CHURCH LANDS CHARITY

CONTENTS

Page
The Trustees and Officers 1-2
Annual Report of the Trustees 3-5
Independent Auditors’ Report 6-9
Statement of Financial Activities 10
Balance Sheet 11
Cash Flow Statement 12
Notes to the Accounts 13-18
Rotation of Trustees 19

THE CHURCH LANDS CHARITY

TRUSTEES, ADMINISTRATOR AND ADVISERS

Trustees Mr P Kaser
Mr M Waller
Mr M Olver
Mr L Garside
Ms Helena Ellis
Ms G Taylor
Rev M Dearnley
Principal Office St Peter’s Church
St Peter’s Street
St Albans
Hertfordshire
AL1 3HG
Charity Registration Number 211409
Clerk Collinson Hall
9-11 Victoria Street
St Albans
Hertfordshire
AL1 3UB
Accountants Collinson Hall
9-11 Victoria Street
St Albans
Hertfordshire
AL1 3UB
Architect Cannon Morgan & Rheinberg Partnership
38 Holywell Hill
St Albans
Hertfordshire
AU1 1BU

1

THE CHURCH LANDS CHARITY

TRUSTEES, ADMINISTRATOR AND ADVISERS (continued)

Property Agents Collinson Hall 9-11 Victoria Street St Albans Hertfordshire AL1 3UB Solicitors Debenhams Ottaway Ivy House 107 St Peters Street St Albans Hertfordshire AL1 3EW Auditors Mercer & Hole LLP Gloucester House 72 London Road St Albans Hertfordshire AL1 1NS Bankers NatWest Bank plc St Albans Branch 10 St Peters Street St Albans Hertfordshire AL1 3LY

2

THE CHURCH LANDS CHARITY

ANNUAL REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 DECEMBER 2021

The trustees present the statutory report with the accounts of The Church Lands Charity for the year ended 31 December 2021.

Constitution

The charity was regulated by a schedule set out by the Charity Commission on 29 July 1881 and reestablished by a new scheme of the Charity Commission dated 6 June 1995. The registration number is 211409.

Trustees and Officers

The names of the Trustees and Officers who have served during the year are shown on the Trustees, Administrators and Advisers page of this report. The method of appointment of each trustee is shown on page 18. Trustees serve a four year term which is renewable.

New trustees are provided with documentation to enable them to appreciate the Trust's objectives, organisation, method of operation and their responsibilities under the law. In addition existing trustees assist them in becoming fully conversant with their role.

Principal Aims and Activities

The objects of the charity are:-

The charity's main objective is to preserve and enhance its assets so that regular contributions can be made to the three beneficiary Parishes. These funds derive from rental income and income from cash deposits and other investment.

The trustees make grants periodically to the Parishes, with preference for St Peter's. Trustees are kept aware of the application of those grants by reports from the trustees appointed by the relevant Parish.

Originally the Charity was endowed with retail and domestic property in St. Albans. It is the policy of the Trustees to ensure properties are maintained in good order and the income is maximised. The gross commercial rents have increased to £223,718 (2020: £219,594) and the residential rents have increased to £457,708 (2020: £445,098). There has been no change in this policy since last year.

During the year grants of £335,000 (2020: £380,000) were made to the churches as shown in Note 4 to the Accounts. The trustees' objective of maximising income has been met this year, and further opportunities to enhance income are actively being sought.

3

THE CHURCH LANDS CHARITY

ANNUAL REPORT OF THE TRUSTEES (continued)

FOR THE YEAR ENDED 31 DECEMBER 2021

Organisation

The trustees meet three times a year to review the progress of the charity and to decide upon the policy to be adopted. The chairman and clerk are the executive officers who carry out the wishes of the trustees.

Application of Income

The income of the charity after expenses is to be applied towards the maintenance and fabric of the Parish Churches of the Ecclesiastical Parishes of St. Peter, St. Paul, and St. Luke, in the diocese of St Albans with preference for St. Peter, and/or furthering the work of the Church of England in these parishes. The grants made are shown in Note 4 to the accounts.

All three churches make themselves and their services available to all parishioners and residents without charge. The trustees consider that by supporting the three churches they are fulfilling the charity's public benefit requirement.

Investment Policy

The trustees periodically review any deposits and take professional advice to ensure that maximum interest is earned. The trustees wish for any investments to be low risk and deposits are therefore held with the CBF Church of England fund.

Future Obligations

The trustees are ever mindful of the reliance by the Charity on its freehold property but consider its resources are adequate to fulfil its obligations. It has no contractual commitments of a capital nature.

Future Plans

The trustees intend to continue along the same lines as they are currently operating. They want to maintain and enhance the existing property portfolio, thereby preserving the income stream and maximising the distributions to the beneficiaries.

Reserves Policy

The charity's reserves are reviewed on an annual basis. The trustees’ policy is to maintain the real value of the charity's assets, after accounting for distributions. In addition, the trustees seek to maintain free reserves of £50,000 to cover any unforeseen expenditure.

Risk Assessment

The trustees have fully reviewed the areas of risk to the charity, being business, commercial and financial risk. Although the areas of risk are deemed to be few, the main risk is the possibility of fluctuations in the property market and reduced income from properties not being let.

Public Benefit

The Trustees confirm that due regard has been paid to the public benefit guidance published by the Charity Commission.

4

THE CHURCH LANDS CHARITY ANNUAL REPORT OF THE TRUSTEES leontlnu8dl FOR THE YEAR ENDED 31 DECEMBER 2021 statement of Trust••s' Responsibilities The trustees are responsible for preparing thè Trustees, Annual Report and the financial statements In accordance wrth aPpI￿able law and Unrted Kingdom Accounting Stsndards (Unrted Kingdom Generally Accepted Aeeounting Prath'cel. The law applicable to charrfiies In England & Vvalès reqUI￿S the trustees lo prep8re financial staten*nts for each financial year which give a true and fair view ol the Statè of affairs of the charty and of the Incoming resources and application of iesource5 of the charfty for that pefiod. In piepanng these fjnancial ststements, the trustees 8re required tts select surtable accounting policies and then apply them consistenuy". observe the ryEthods and principlès in the Charf(ies SORP 2019 IFRS 1 (r21'. make judgments and estimates that 81e reasonable and pNdenL" state whether applicablè aeeounting standards have been ftsllowèd, subject to any material departures disclosed an¢Y explained in the financk41 statements, prepare the )Inancial 5t8lements on thè going concem basis unle55 ¢t Is fnappropriate to Presu￿ that the charty will continue in operats.on The trustees are responsible for kèaping proper accounting records that flisclose wf(h reasonable accuracy at any time the financial position of the charty and enabk them to ensure that the financial ststements comply with the Charities Aet 2011, the Charity (Accounts and Reportsl Regulations 2008 and th8 provisions of the trust deed They are also responsible for safegu81ding the assets of the charty and hence for taking re8$onablè stèps for the preventh)n and det8cts.on of Iraud and other irregul8rrties. Audltor The charty's audrtor, Mercer & Hole. incorporated on 1 (ktober 2022 to become Mercer & Hole LLP. The trustees have cornsent8d to trèating thè incorporatson of Mercer & H91¢ LLP as a continuab'on ol the existing audrt arrangement. Signed on behalf of the Trustees". M Olver Approved by thè TNstee8 on

THE CHURCH LANDS CHARITY

INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES OF THE CHURCH LANDS CHARITY

FOR THE YEAR ENDED 31 DECEMBER 2021

We have audited the financial statements of The Church Lands Charity (the ‘charity’) for the year ended 31 December 2021 which comprise the Statement of Financial Activities, the Balance Sheet and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the trustees annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent

6

THE CHURCH LANDS CHARITY

INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES OF THE CHURCH LANDS CHARITY (continued) FOR THE YEAR ENDED 31 DECEMBER 2021

material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement set out on page 5, the trustees are responsible for the preparation of financial statements which give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with regulations made under section 154 of that Act.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud is detailed below.

7

THE CHURCH LANDS CHARITY

INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES OF THE CHURCH LANDS CHARITY (continued) FOR THE YEAR ENDED 31 DECEMBER 2021

Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud

We gained an understanding of the legal and regulatory framework applicable to the charity and the environment in which it operates and considered the risk of acts by the charity that were contrary to applicable laws and regulations, including fraud.

We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements and the financial report (including the risk of override of controls), and determined that the principal risks were related to posting inappropriate entries including journals to overstate revenue or understate expenditure, and management bias in accounting estimates.

Audit procedures performed by the engagement team included:

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/Our-Work/Audit/Audit-andassurance/Standards-and-guidance/Standards-andguidance-for-auditors/Auditors-responsibilities-for-audit/Description-of-auditors-responsibilitiesforaudit.aspx. This description forms part of our auditor’s report.

8

THE CHURCH LANDS CHARITY

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 DECEMBER 2021

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity’s trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Steve Robinson

For and on behalf of: Mercer & Hole LLP Chartered Accountants & Registered Auditors Gloucester House 72 London Road St Albans Herts. AL1 1NS

23 December 2022

9

THE CHURCH LANDS CHARITY

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 DECEMBER 2021

Note
Income and Endowments
Investment Income
4
Total Income
Expenditure
Costs of Raising Funds:
Property Expenditure
3
Expenditure on Charitable
Activities:
Grants & Donations
5
Other
6
Total Expenditure
Fair Value Revaluation of
Properties
Net
Income/(Expenditure)
Transfers between funds
Net Movement in Funds
Reconciliation of funds:
Total funds brought
forward at 1 January 2021
Total funds carried
forward at 31 December
2021		 2021
General
Funds
2021
Designated
Funds
2021
Total
Funds
£
£
£
708,892
-
708,892
708,892
-
708,892
184,803
-
184,803
335,000
-
335,000
14,768
-
14,768
534,571
-
534,571
769,805
-
769,805
944,126
-
944,126
(30,004)
30,004
-
914,122
30,004
944,126
15,595,754
207,702
15,803,456
16,509,876
237,706
16,747,582		 2020
General
Funds
2020
Designated
Funds
2020
Total
Funds
£
£
£
671,320
-
671,320
671,320
-
671,320
230,864
-
230,864
380,000
-
380,000
19,572
-
19,572
630,436
-
630,436
871,910
-
871,910
912,794
-
912,794
(37,004)
37,004
-
875,790
37,004
912,794
14,719,964
170,698
14,890,662
15,595,754
207,702
15,803,456

All recognised gains and losses for the year are included in the Statement of Financial Activities.

10

THE CHURCH LANDS CHARITY BALANCE SHEET AS A T31 DECEaiBER 2021 Notè 2021 2021 20 2020 Fixed Assets Investments 16.319,090 15,403.741 Current Assets Debtors Cash * bank and irs hand 54.057 479.089 62.190 431.478 533.146 493.6e6 Credttors: amounts falling dut within onè year 104,642 93 957 Net current ￿Sets 428.492 399.709 Total assets current liabilities 16,747,5K2 15,803.456 Nèt Assets 16 747 582 15803456 Funds UnrestrKted: Designatèd fijnds Genèral funds.. Accumulated surplus Revaluab'on and tsir value reserve 10 237,706 207.702 4.349.024 12,160.852 4,204.707 11,391.047 16747 582 1580345e Approv8d by the Trustses on 218nd signed on their beharf by.. IJ 0￿r Ichairman oflhe Trustèès) The notés on pages 13 to 17 form part of thes• accounts

THE CHURCH LANDS CHARITY

CASH FLOW STATEMENT

FOR THE YEAR ENDED 31 DECEMBER 2021

Note
Net cash used in operating activities
14
Cash flows from investing activities
Fixed asset investment additions
Interest received
Net cash provided by investing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents brought forward
Cash and cash equivalents carried forward		 2021
2020
£
£
193,141
(55,834)
(145,537)
9
94
(145,528)
94
47,613
(55,740)
431,476
487,216
479,089
431,476

12

THE CHURCH LANDS CHARITY

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

1. Accounting Policies

The charity constitutes a public benefit entity as defined by FRS 102.

Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

13

2. Judgements and key sources of estimation uncertainty

In the application of the charity’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an outgoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Key sources of estimate uncertainty

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows..

Valuation of Investment Property

The valuation of the Investment property as at 31[st] December 2021 is based on the professional valuation undertaken by D Ambrose as at 25[th] March 2014. This is then revised each year in line with market indices. A review of the valuation as at 31[st] December 2021 has been undertaken by the trustees who have proposed a change in the valuation to coincide with the 3.8% rise in the UK House Price Index.

Changes to Investment Property potfolio

During the year, a new property was built on existing land at the rear of 61 Catherine Street. This property development is now known as “3 Bakery Mews” and has been valued at £330,000.

14

THE CHURCH LANDS CHARITY

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

3. Costs of Raising Funds
General
Funds
Designated
Funds
Property Expenditure
£
£
Commercial management charge
-
Insurances
7,334
-
Rent Collection
76,928
-
Architectural Fees
1,029
-
Legal Fees
7,242
-
Utilities
1,820
-
Property Maintenance and Refurbishme
82,137
-
Miscellaneous
8,313
-
184,803
-
4.Investment Income
General
Funds
Designated
Funds
£
£
Interest on deposit accounts
9
-
Lease Extensions
25,692
-
License Fee income
1,766
Commercial Rents
223,718
-
Cottage Rents
457,708
-
708,892
-
5. Expenditure on Charitable Activities
General
Funds
Designated
Funds
Grants and Donations
£
£
Parish Church of St Peter’s
268,000
-
Parish Church of St Paul’s
33,500
-
Parish Church of St Luke’s
33,500
-
335,000
-
6. Other Expenses
General
Funds
Designated
Funds
£
£
Management Fees
9,248
-
Bad Debt Provision
-
-
Audit Fees
5,520
-
14,768
-		 3. Costs of Raising Funds
General
Funds
Designated
Funds
Property Expenditure
£
£
Commercial management charge
-
Insurances
7,334
-
Rent Collection
76,928
-
Architectural Fees
1,029
-
Legal Fees
7,242
-
Utilities
1,820
-
Property Maintenance and Refurbishme
82,137
-
Miscellaneous
8,313
-
184,803
-
4.Investment Income
General
Funds
Designated
Funds
£
£
Interest on deposit accounts
9
-
Lease Extensions
25,692
-
License Fee income
1,766
Commercial Rents
223,718
-
Cottage Rents
457,708
-
708,892
-
5. Expenditure on Charitable Activities
General
Funds
Designated
Funds
Grants and Donations
£
£
Parish Church of St Peter’s
268,000
-
Parish Church of St Paul’s
33,500
-
Parish Church of St Luke’s
33,500
-
335,000
-
6. Other Expenses
General
Funds
Designated
Funds
£
£
Management Fees
9,248
-
Bad Debt Provision
-
-
Audit Fees
5,520
-
14,768
-		 3. Costs of Raising Funds
General
Funds
Designated
Funds
Property Expenditure
£
£
Commercial management charge
-
Insurances
7,334
-
Rent Collection
76,928
-
Architectural Fees
1,029
-
Legal Fees
7,242
-
Utilities
1,820
-
Property Maintenance and Refurbishme
82,137
-
Miscellaneous
8,313
-
184,803
-
4.Investment Income
General
Funds
Designated
Funds
£
£
Interest on deposit accounts
9
-
Lease Extensions
25,692
-
License Fee income
1,766
Commercial Rents
223,718
-
Cottage Rents
457,708
-
708,892
-
5. Expenditure on Charitable Activities
General
Funds
Designated
Funds
Grants and Donations
£
£
Parish Church of St Peter’s
268,000
-
Parish Church of St Paul’s
33,500
-
Parish Church of St Luke’s
33,500
-
335,000
-
6. Other Expenses
General
Funds
Designated
Funds
£
£
Management Fees
9,248
-
Bad Debt Provision
-
-
Audit Fees
5,520
-
14,768
-		 Total
2021
£
-
7,334
76,928
1,029
7,242
1,820
82,137
8,313
184,803
Total
2021
£
9
25,692
1,766
223,718
457,708
708,892
Total
2021
£
268,000
33,500
33,500
335,000
Total
2021
£
9,248
-
5,520
14,768		 Total
2020
£
-118
7,165
68,965
3,191
11,815
3,383
127,858
8,605
184,803
-		 230,864
General
Funds
Designated
Funds
£
£
9
-
25,692
-
1,766
223,718
-
457,708
-
708,892
-
General
Funds
Designated
Funds
£
£
268,000
-
33,500
-
33,500
-		 Total
2020
£
94
-
6,534
219,594
445,098
671,320
Total
2020
£
304,000
38,000
38,000
335,000
-
General
Funds
Designated
Funds
£
£
9,248
-
-
-
5,520
-		 380,000
Total
2020
£
7,440
7,212
4,920
14,768
-		 19,572

15

THE CHURCH LANDS CHARITY

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

7. Fixed Asset Investments
Properties
Market value at 1 January 2021
Investment additions in the year
Fair value revaluation
Market value at 31 December 2021		 2021
£
15,403,747
145,537
769,805
16,319,089		 2020
£
14,531,837
-
871,910
15,403,747

The investment additions in the year are property development costs of £145,537 which were capitalised and relate to a new property built on existing land at the rear of 61 Catherine Street. This property development is now known as 3 Bakery Mews. The Investment Properties were valued on 31 December 2021 by the trustees with reference to the Land Registry House Price Index. Within the total revalued gain £184,463 relates to the new property at 3 Bakery Mews and the remaining £585,342 relates to the existing portfolio at the start of the year.

8.Debtors
Other debtors:
Rents held by agents
Prepayments and accrued income
Recoverable from tenants		 2021
£
40,928
13,129
-
54,057		 2020
£
49,885
12,305
-
62,190

Within the ‘Rents held by agents’ is a sum of £40,928 (2020: £49,885) representing rent in arrears at the balance sheet date.

9.Liabilities: Amounts falling due
within one year
Other Creditors
Trade creditors
10. Unrestricted Funds
Designated Fund
Renovation reserve
Redecoration reserve
Roof reserve		 2021
£
68,955
35,698
104,654
2020
Transfers
Expended
£
£
£
64,852
10,000
-
80,012
20,004
-
62,838
-
-
207,702
30,004
-		 2020
£
73,436
20,521
93,957
2021
£
74,852
100,015
62,838
237,706

The designated fund’s purpose is to provide funds for the upkeep of properties, including the periodic exterior redecoration of the Charity’s property and the refurbishment of properties that fall below current standards.

16

THE CHURCH LANDS CHARITY

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

10. Unrestricted Funds continued

General Fund
This comprises:
Accumulated surplus
Revaluation reserve
Fixed assets
Current assets
Current liabilities		 Unrestricted
Designated
£
£
16,319,090
-
295,440
237,706
(104,654)
-		 2021
£
4,349,024
12,160,852
16,509,876
2021
Total
£
16,319,090
533,146
(104,654)
16,747,582		 2020
£
4,204,707
11,391,047
15,595,754
2020
Total
£
15,403,747
493,666
(93,957)
16,509,876
237,706		 15,803,456

11. Trustee’s Remuneration

No remuneration is paid nor any expenses reimbursed to the trustees.

12. Related Parties

During the year the following transactions took place with related parties:

Donations made
St Peter's PCC
St Paul's PCC
St Luke's PCC		 2021
£
268,000
33,500
33,500
335,000		 2020
£
304,000
38,000
38,000
380,000

All of the above are related parties through their involvement in deciding appointments to the board of trustees.

13. Control

The charity is under the control of the board of trustees.

17

THE CHURCH LANDS CHARITY

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

14. Reconciliation of net movement in funds to net cash flow from operating activities

Net movement in funds
Deduct interest income shown in investing activities
Revaluation of fixed assets
Decrease in debtors
Increase in creditors
Net cash used in operating activities		 2021
£
944,126
(9)
(769,805)
8,133
10,697
193,141		 2020
£
912,794
(94)
(871,910)
(23,362)
(73,262)
(55,834)

15. Legal Form

The charity is an unincorporated entity registered with the Charity Commission on 6[th] June 1995.

18

THE CHURCH LANDS CHARITY

ROTATION OF TRUSTEES

FOR THE YEAR ENDED 31 DECEMBER 2021

Name Date of Retirement
Rev M Dearnley (vicar at St Peter) Ex-Officio
Nominated by Parochial Church Council of St Peter
For a term of four years
Mr M Waller June 2025
Helena Ellis November 2022
Mr M Olver (Chairman) March 2025
Mrs G Taylor March 2025
Nominated by Parochial Church Council of St Luke
For a term of four years
Mr P Kaser June 2026
Nominated by Parochial Church Council of St Paul
For a term of four years
Mr L Garside October 2024

19