Charlty number: 211409
THE CHURCH LANDS CHARITY
ANNUAL REPORT OF THE TRUSTEES AND STATEMENT OF Accouiif8
FOR THE PERIOD ENDED 30 APRIL 2023

THE CHURCH LANDS CHARITY
CONTENTS
The Trusl8es and Offlcers
Annual Report of the Trustees
Ind&penéent Auditors, RepLYt
Stalgrngnt of Finanryal Actiwties
10
Balance Sheet
11
CBsh Flrjw Statement
12
Notos to the Acc￿nts
1&18
R¢)lation of Tru5tee5
19

THE CHURCH LANDS CHARrrY
TRUSTEES, ADIIINISTRATOR AND ADVISERS
Tru8t8e8
Mr P Ka8er
Mr M Wa118r
Mr M Otver
Mr L Garside
Ms He￿￿3 Ellis
Ms G Ta￿or
Rev kl Dearn￿Y
(ResKJnwJ March 2023)
Prfnclpal Offlco
st Petsrfs Church
St Pelerfs Street
St Aibans
AL13HG
Charfty R8glstratlon Numbor
211409
Clerk
ColEn￿n H811
11 VIGtorH Street
st Abans
HertftKdshir&
AL13U8
Accountants
Collingjn Hall
11 Victoria Street
Sl Abans
Hert1￿￿h￿ra
AL13UB
Archltect
Cannon Morgan & Rh￿nberg Partnership
38 Hfvll Hill
Sl Albans
AU1 1BU

THE CHURCH LANDS CHARrrY
TRUSTEES. ADMINISTRATOR AND ADVISERS (Contlnu
Property Ag•nts
C￿lI￿S0n Hall
11 v￿tO￿a Street
StAib
Hertfordshre
L13UB
Sollcitors
Ivy H￿se
107 St Poters Str88t
St Alban8
Hertfordshire
AL13EW
Audltor¥
Mercer & Holo LLP
Gkxjcosler House
72 Road
St Abans
Hertthshlro
AL1 INS
Bankgrs
Nalwest Bank pk
Sl Abans Branch
10 St Peters Street
St Ajbans
Hertlordshiro
ALI 3LY

THE CHURCH LANDS CHARrrY
ANNUAL REPORT OF ThE TRusfEES
FOR fHEPERIOD ENDED 30 APRIL 2023
Th8 trustees present the statutory rewrt th the accwrts of The Churc* L8nd8 Charity for the period
ended 30 April 2023. This Period is 16-months12021: 12 nM)nths) folknving a financial year change from
31.12.2022 to 30.04.2023. a result. tho timing of Ihe audtt should ea8e seasonal demand on audit staff
and avoid ￿te filings.
Con$titutlon
The charity was regulated by a sthedvle set out by Charity CommissK)n on 29 Juty 1881 and re-
establlshed by a new sch8m& of th8 Charity ComMiss￿n dated 6 June 1995. The registration number k8
211409.
Trusloes and 0ffi¢grs
Thè names of the Tru8t8e8 and Officer8 ¥hL) have served dur1￿ Ihe are shown on 1he Trustea8.
Administrators and Ad￿SerS page of this reporL The Moth￿ rf apprxntr￿nt of 8ach trusleè is sh)wn On
page 19. Tnjstees serve a four-year tem vA)th is renewabl6.
New trustees are providèd wtth documentrdtion to enabl8 them to aPpre￿ale the Trusvs oblecllve8.
organisation. method ol operation and thwrestM)nsi￿IitIeS under the law. In addthon exisknr¢g trustees asslst
them in becoming fully conversant th thew role.
Prfnclpal Alms and A¢fjvllles
The objects of the chadty are:.
a. To provlde fijnds forthe upkeep and maintenanceof the fabrfc ofthe Parlsh Churches of St Petevs.
st Paufs and Sl Luke's all bglng in St Abans. ￿rtfDrdS￿r8. Prnference is given to needs of St
Peterfs., a
b. To further the religious and olher charilabk purp￿ of the Church of England in any or all of
these Parishes.
The ¢harfty's main oblethe isto preserye oThY enhatK8 its assets so that roguLqr contrt)utson5 r￿n be maile
to the three beneficiary Pari8h88. These funds dethie from rent￿ income aNI Inco￿ from cash doposits
ar￿ other investmenL
The tnjstees make grants periodl(xlty to the Parlshes, ￿ preferer￿ for St Peterfs. Trustees are kept
aware of the apFAication of thckse grants by reports from Ihe trustees appointed by the relevant Pgdsh.
Orighialty the Gharity was erthwe(J vth retail and thmestic tryety in St. Abans. 11 1$ the policy of the
Trustees to ensure properties are maintained in gc*)d order and incon% is maximised. The gross
COTnmercial rents have increased to £312.85112021'. £223.718) and the residential have Incr8ased to
£639.21912021.. £457.708). There has been no change in Ihe poricd.
During the periixj grants of £440.00012(r21.' £335,000) were made to the thurthe$ as sh(pM) In Not& 5 to
theAc¢ounts. The trus18es' objective ofmaximisiThJ income has been m8tthi8 year, and fijrther0ppothnl￿eS
to enhan(* inc(*ne aro ￿r￿j sought.

THE CHURCH LANDS CHARITY
ANNUAL REPORT OF THE TRUSTEES (¢ontlnwd)
FOR ThIE PERIOD ENDED 30APRIL 2023
OTganlsatlon
The trust88s meet thr88 times a year to review the PTogr855 of thè and lo declde upon the F¥)licy to
be adopted. Tho d)aiman aT¥J derk are Ihe exe(JJtSv8 officers who cary out the wishes of the trusts88.
Applcatlon of Income
The incyjme of th8 charity after expenses 58 to b8 appr￿ tcwards the maintenanc8 and fabrfc of the Parish
Churches of thè Ecclesiasti￿ Parishes of St. Peter. St. Paul, and St. Luk8, in the dioc8se of St Abans w￿h
pr8fer8n¢8 for Sl. Petsr. andlor fvrtherirrfJ th8 of th8 Church of Engknd In these partshes. The grants
madè are shown In Note 5 to the 8CCtyJnts.
I Ihree churches m8k8 Ih8mselves and their servws aYaiLable to all partshk)ner8 and residents without
charge. The trustees conslder that by supwrtirwj the thr88 churches they are fvlfilling the charity's public
benefil requlrement.
Inve8tm8nt Pollcy
The trustges pariodully review any deFM)Wts aThl tak8 wdessK)nal adv￿ to ensure that maximum inlergst
18 eamed. The trustees wlsh any Investrnents to be k)w risk and twts are therefm hokl wtth the CBF
Churth of England fijnd.
Future Obllgatlons
The trustees are evèr mindful rellanL* bythe Charity its freehold property but considerits re8(yJrce8
are od¢quote to fu￿11 its obligations. It has no rAJntractual commiiments of 8 capital nature.
Futurn Plans
The trustees intend to continue along the sam8 lines as Ihey are Current￿ operalng. They want to maintain
and enhance the existing prop* portfolo, Ihereby preservirvJ the irKome stream and maximlslng the
dlstr*utlons to the beneficiaries.
Reserves Poll
The charitys reserves are Teviewed on an annual basis. Th& trust uses designated funds to plan for
speciffic works, including the renovatk)n of a building to form an a(kJttiLwal residential property (approx.
£100kl and the Installatlon of new wlndows. front d￿1$ arKI bcMleTS throughout the r6sldentia] portrollo {8t
least £230kl. Remaining r8serves (both c4Jrrent arKI ftrture) have been eai-marke(I for th& devglopment of a
new (trelling on our land Iwhen a ￿rtain ￿ase expires in a few yaws).
Rlsk Assossment
The tNstse8 havo fulty revlthved the areas of to Ihe charity, being business. (￿Mmerc￿￿1 and finanlaal
risk. Although the areas of risk are deemed to ￿ few. the maln risk is the possibility of fluctuations in the
property marf(el and reduced income from proFeths not ￿ng let
Publk Baneflt
The Trustses confirm that du8 W has been paid to the publi¢ benefft guldanc8 published by the Charity
Comm5sslon.

THE CHURCH LANDS CHARITY
ANNUAL REPORT OF THE TRUSTEES l¢ontlnuedl
FOR THE PERIOD ENDED 30 APRIL 2023
stst&ment of Trustees. Responslbllltles
The trustees are responsible for preparing the Trustees, Annual Report and the financial statements in
accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally
Accepted Accounting Praclicel.
The law applicable to charities in England & Wales requires the trustees lo prepare financial slalemenls for
éach financial year which give a true and fair vi8w of the slate of affairs of the charity and of the incoThing
resources and application of resources of the charity for that period. In preparing these financial statements.
the Iruslees are required to..
$8le¢l suitsble a¢¢ounling policies and then apply them consislenlly.,
observe the methods and principles in the Charities SORP 2019 IFRS 1021.,
make judgments and estimates that are reasonable and prudent..
slate whether applicable accounting standards have been followed, subject lo any material
departures disclosed and explained in the financial slalements.,
preparè the financial sts18ments on the going concern basis unless it is inappropriate lo presume
that the charity will continue in operation.
The Iruslees are responsible for keeping proper accounting r8cords that disclose with reasonable accuracy
at any time the financial position of the Charity and enable them lo ensure that the financial slalemenls
comply with the Charities Act 2011, the Charity IA¢counls and Reports) RegLJlalions 2008 and the provisions
of the trust deed. They are also responsible lor safeguarding the assets of the ¢h8rity and hence lor ta￿ng
reasonable steps for the prevention and detection of fraud and other irregularities.
Auditor
The charity's auditor, Mercer & Hole, incorporated on 1 October 2022 to become Mercer & Hole LLP. The
trustees have ¢onsenled lo Irealing th& in¢orporation of Mercer & Hole LLP as a continuation of the
existing audit arrangement.
Signod on behalf of the Trusl88s'.
koc LQ-
Approved by the Trustees on
la rOaio13

THE CHURCH LANDS CHARrr
INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE CHURCH LANDS CHARtTY
FOR ThIE PERIOD ENDED 30APRIL 2023
We have audited the financial 8tatement8 of The Church Lands Charity (tho'thartyl ft)r the period end8d
30 April 2023 whKh cornpris8 the Slatement of FinancAal Acbvlties, the Balance Sheot, the Cash Row
Statement and notes to the financlal statements, induding a summary of sHJnificanl accounting policies.
The financial reporting framework that has LEen appl￿ ni Ihelr prepw8tiw is appucable law and United
Kingdom Accountlng Sl8ndths. Induding FinarK¥al Reporbng Standard 102 The F1nancial Reporting
Standard appll(*ble In tho UK and Republic of Iretond (Unii8d IQWM G8n8fdlty A(%8￿ Accountlng
Practi(xl.
In our oplnion thè financlal statsments:
- gfvè a true and falr vlbw of the state of the chatills affairs as at 30 April 21Y23, aThl of its incorning
r8sour¢e8 8ThY app1￿knon ￿ r&8ourrAgS, inckKlww its and axpthtwe. for U)e pgriod thon en(led;
- have bgen property prepared in aL£(xxlanc* wllh Unltwj King(k)m Ggneralty Accept8d Accounting
Practic8', and
- havo b88n prepared in accordance with ts requThnents oftha Charfues Art 2011.
Bo$1$ for oplnlon
We conducted our audlt In accordance wlh Interrbationa5 Standards on Audrfing (UK) IISAS (UK}l and
appllcablè law. Our respon8ibililies under Ihose starKlards are further described in the Audltor's
r&S￿)nSIbl11tIeS for the audit of the finanLaal ststsments section of our rewrL We aro independent of the
charlty In accordance with thg 8th￿￿1 requiremènts that ar8 r61evant to our audr( of the financial statements
In the UK, Including the FRC'S Ethlcal st￿ard. and we have fuffilled our other ethkal reSt￿sIbIlI￿e$ In
accordarKe wth th&se requ*ements. W8 bellevo that the audit evKlgrKo wg have i)btain8d15 sufficient and
appropriate lo provide a basls for our oplnkin.
Concluslon5 rnlatlng to golng a¥ncem
In audlling the fln8t￿la1 statements. wa have eA)ncluded that the trustees, use of the going (x)ncem bas
of arLountlng in Ihe preparatKin of the financtal statements Is apkyopriate.
Based on the work we have perfomied, we have not identifred any rnèterial uncertainties re￿tIng to events
or conditions that, individually or Collectr￿ety. may Lwt swJntficant th)ubl on the diarivs abiltty to (x)nlinue
as a going con¢em for a period of at18ast IWe￿e months from when 1he financial statements are
aulhorfsed for188ue.
Our responBlbilMles and the responsiblHtie8 of th8 truste85 Wtth respect to g￿n9 are descrlbed I
th8 re16vant secbons of this rewJrL
The other infomiatksn ¢xJmprk88s th8 Irrf0M￿Im indudod in tho1rustees annual reporL other than th8
flnancial statements and our audllorfs rewrt ther8on. The trustoes are responsible for1he other
Inforniathon contained within the annual reporL Our oplnion ￿ th8 financlal statements does not covgr thg
other information arKI. except to Ihe exlent otherwise explicitly stated in our report. we do N)t express any
fomi of assurance conclusion therwn.
Our r8spon8lbllity Is to read the other Infomwtk)n and, in so. ￿sider whethèr the othèr Informalb)n
IB materially inGonsislent with the ffinanclal statements or our knowl8dg8 obtslned in th& ￿u[s8 of tre audit
or olh8Mise awears to be matwi￿1Y misstated. If we tdentlfy such materlal Inconslstendes or appa￿￿1

THE CHURCH LANDS CHARITY
INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE CHURCH LANDS CHARITY
(contlnuedl
FOR THE PERIOD ENDED 30APRIL 2023
mal8rial misstatem&nts, w8 ar8 r8qured lo determine vtheth8r this gNes iise to a material misstatement in
the finar￿la1 stalewnenls themsefves. tf. based ￿ the woth we have performed. we c(￿e1Ude that there is a
material mlsstatement of th18 other infom)atK)n. we aTe wuirod to repxt U)at fact.
We hav8 nothing to reFMIrt In Ihis ragard.
Mattgrn on whl¢h wo are requlred to report by exceptlo
We have nothing lo report in respect of the follov*irwJ mattws in relation to wh￿h the Ch0rib8s (Accounts
and Rewtsl Regulathjns 2008 requira us to ra￿￿ to YCYJ sf. In ¢JJr opinlon:
- the Infomiation glven in the fEnarKaal 8tatemenis Is InconsSstent In any matertal respect bMth th8 twstees,
reporL 01
- sUffiC￿￿t a¢ry)unling record¥ have mt been kep¢ or
. the financlal statsment8 are tTrJt In agreem8rrt the a&)￿nth)g r￿d8' or
. we have not recefved al the Inlrmalion aTrJ expknatKms we wuire for our audit.
Rosponslbllltles of trustogs
As explained more fully in the trustees. resrKJnsiblthes statement sel oul on page 5. the trusteès are
responslble for the prepwation offjnancial stslements grve a tnje and fair view. and ft)r such intemal
control as the trustees detenmine18 necess8ry lo enable lh8 prgparalion of finan(aal statements that are fre&
from material mi58tatmnt. whets due to fraud (r error.
In p￿parfng the financ581 statements. the trusie88 are r8sponsUe f(* assesslng the chartty's ability to
continue as a golng coll￿m, di5doslng. as applicatA8. matters related to going rnncem and using golng
concem basis of accounting unless ￿ t￿￿tee5 either intend to liquidate the charity IX to cease operatlons,
or have no realistic allamative but to do so.
Audttovs responslbllltlès for thè audm of th• flnanclal statements
Wo have been appointed as auditor urKlor ¥eclion 144 of the Charibes Act 2011 and report In accordance
with regulatlons made under Sect￿ 154 of that Act.
Our obiectives ￿e lo obtain reasonable assuraTVX aboul whether Ihe financial stslements as 8 wIKJlo ar8
free fr(Hn material misststement, whether due to frdud or error. to issue an audttorfs report that includes
our opinion. Reasonabl8 assurance is a hNJh ￿Ve1 of asSUrarK￿, but is not a guarantee that an aud
conducted In ac£ordanc6 ISAS (UK) will a￿ayS detect a material misstatement when It exists.
Mlsslalements can arise from fraud or er￿T arKI aro cOn￿d8[0d material if, individuolly or In the aggregate,
they coukl reason81ty be expecaed to influenc8 th8 ecorwxnic de(ish)ns of users taken on th8 basis of thesg
f￿anCra1 stalemenls.
Irregularities, including fraud. are InSta￿S of rM¥ts4%￿pl18nQ with laws and regulation8. We deslgn
proc8dure8 In line wth our responsibilities, outjingd above, to dete(I material misstatements in respect of
Irr8gularttles. Indudlng fraud. The Specif￿ rYC￿￿UreS for this engag8ment and the extent to which thes8
are capab18 of d8tectlng wregularities. induding fraud is detailed bek)w.

THE CHURCH LANDS CHARITY
INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE CHURCH LANDS CHARITY
Icontlnued}
FOR THE PERIOD ENDED 30 APRIL 2023
Explanation as to what èxt•nt the audlt was ¢on$ld¢r¢d ¢apabl¢ of dotecting irregularitios, including
fraud
We gained an understsnding of the legal and regulatory framework applicable lo the charity and the
envirtsnmenl in which it operates and considered the risk of acts by the charity that were contrary to applicable
laws and regulaliDns, including fraud.
We evaluated management's incentives and opportunities for fraudulent manipulation of the fin8n¢ial
statemonls and the financial report (including the risk of override of controls), and determined that the
principal risks were related lo posting inappropriate entries including journals to overstate revenue or
underslale expenditure, and management bias in accounting eslimales.
Audit procedures performed by the engagem&nt team inclijded..
Discussions with management, including considerations of known or suspected instances of non-
compliance with laws and regulations and fraud.,
Gaining an understanding of management's controls designed to prevent and detect
irregularities,. and
Idenlrfying and testing journal entries.
Because of the inherent limitations of an audit, there is a risk that we will not delect all irregularities,
inGluding those leading to a material misstatemenl in Ihe financial statements or non-compliance with
regulation. This risk in¢reasos the more that compliance with a law or regulation is removed frotn the
events and tonsaclions reflected in the financial slalemenls, as we will be less likely lo become aware of
instsnces 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 descri
lion of our res
onsibilities is available on the Financial Re
ortin
Council's website at..
htt s.'IIwwM.frc.or
.uklOur-WorklAucSiUAudil-andassurancelSlandards-and
uidancelSlandards-and-
uidance-for-audilorslAuditors-res
onslbilllies-for-audlVDes¢ri
lion-of-audltors-res
onsibililies-
foraudil.as
x. This descri
lion forms
ur auditor's re
Drt.

THE CHURCH LANDS CHARITY
STATEIIENT OF FINANCIAL ACTMTIES
FOR THE PERIOD ENDED 30APRIL 2023
Use of ¢)ur report
Thls repKJrt is made solety to the charTVs twstees. as a toJy. n aCC￿dartt with Part 4 of the Charitles
(Accounls and R8POrts) R8gulath)n8 2008. Our audft work has been undertaken so that W8 mlghl stste to
the chartty's trustees those matters we are required to state to them in an aLKlitorf8 report arKI for no other
pur￿)$8. To the fullest extent perr￿tted ty law. we do T¥)t arLept or a&wme resPor￿*￿IlIty to anyone olhor
than the charity and the charity's Injslees as a bc*ty. for audit work. for this report, or forthe opinions we
have foThed.
steve Roblnson
Sonlor statut￿ Audltor
For and on behalf OP.
Mercer & Hola LLP
Chartered ActrAJuntsnts & Registered Audit
Glouc8st8r Hous8
72 London Road
st AJban8
AL1 1NS
7 Novèmbèr 2023

THE CHURCH LANDS CHARrrf
8TATEMENT OF FINANCIAL ACTMTIES
FOR THE PERIOD ENDED 30 APRIL 2023
Perfod
Endgd
30 Apdl
2023
Year
Endgd
31 De¢
2021
Year
Ended
31 De¢
2021
Year
Endod
31 Doc
2021
Ended
30 Aprll
2023
End8d
30 Aprfl
2023
G8noral Deslgnatfjd
Funds
Funds
Totsl
Fund$
Ggngr31 Doslgnatod
Funds
Funds
Tot
Fund
Income and Endovm)gnls
Inv8Stm8nt InrA)me
4 1,(N)1.963
1.D)1,963
708,892
708,892
Total Income
1.001.￿3
1.001,963
708,892
708,892
Expendlture
Costs of Ralslng Funds..
Propw Exp8ndMure
Expenditure on Chanlable
Activities..
Grants & Donations
Olhar
2TT.078
2TT.078
184.803
184,803
440.000 -
21.383
440.000
21,383
335.000
14,768
335,OOL)
14.768
Total Expondtture
738.461
738.461
534,751
534.571
Fair Value Revaluation of
Prop8rt188
{3,868,813}
{3,668,813)
769,805
769,805
Net
Incomel{Expendllure}
263.￿2 -
263.502
944,126
944,126
Trark8fers be￿en funds
(80,005) 80.005
(30.(X)41
30,004
Not Movemont In Funds
(3.485.316> 80.005
(3,405,311)
914,122
30,004
944.126
RÉconciliatM)n of funds:
Totsl fuThJs bTought
forw*d at 1 January 2022
16,509.876 237,706
16,747.582
15.595,754
207,702 15,803,456
Total lunds carried
forward at 30 April 2023
13,024.560 317.711
13.342,271
16,509,876
237,7c￿ 16,747,582
All recognised gaSns and Iosses tho year are indud&J in U)a Slatement of Flnanclal Activitios.
10

THE CHURCH LANDS CHARITY
BALANCE SHEET
ASA T30 APRIL 2023
Note
2023
2023
2021
2021
Fixed A$$et$
Investments
12.650,277
16,319,090
Currant Asséts
Debtors
Cash al bank and in hand
33,767
757,163
54,057
479,089
790,930
533,146
Credltors.. arnounts falling due
within one year
98,936
104,642
Net ¢urr¥nt assets
691.994
428,492
Total assets loss currant
13,342,271
16,747,582
Net Assats
13,342,271
16,747,582
Funds
Unrestrl¢ted:
Designated funds
General funds..
Accumulated surplus
Revaluation and fair value reserve
10
317,711
237,706
4,532.521
8,492,039
4,349,024
12,160,852
13,342,271
16,747,582
Approved by the Trustees on
nd signed on their behalf by-
M Olver (Chairman of the Trusleesl
Th@ notes on pages 13 to 18 form part of these accounts

THE CHURCH LANDS CHARrr
CASH FLOW STATEMENT
FOR THE PERIOD ENDED 30 APRIL 2023
2023
2021
Nel cash u88d In operatlng actlvltle8
15
268.148
193.141
Cash flows from investing aGtwi&es
Fixed asset Investment a(klitions
Interest receDied
1145,537)
9,926
9.926
Not cash provldod by InV￿lIng acllvltles
(145,528)
Changè In cash and ¢ash 8qulvalants In prfod
278,074
47,613
Cash and ca8h aqulvalents bmwJht forward
479,089
431,476
Cash and cash èqufvalents carrled forniard
751.163
479.089
12

THE CHURCH LANDS CHARrrY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2023
l. Accountlng Pollcle8
{a) The flnanclal Statsmant hava been prepar&1 under the hlstorlcal cxJ8t convorsh)n, rrK)drfi8d to Include
Ihg revaluation of Investments and in accordanc8 With applirable AcuJunting Standards and
stateM￿t of Recommended Practice. ACC￿ntIng and Reportlng bycharitw prep¥ing Ihewaccounts
In accordance vAlh the Flnanaal Reporting Standard appll(abl8 in the UK and Republic of Ireland
{FRS 1021 i$3ued on 1 January 2019 and the ¢￿tIeS A& 2011.
The charity ¢X￿$tituteS a W1￿1C benefft entity as defined by FRS 102
{b) Reporknng period.. Th&8e fina￿1￿1 statements ci)ver a 16 month period. Tho compaTrtlve Infomiatlon
c¥)vers a 12 month period.
(c} ProFerty incomg represents rents ￿￿e1Vable in the year and proF¢rty expenses are those Incurred In
the year. This 18 &xJunted for on an actruals ba8i8.
Id) Investment Income represents divklends and hterest re￿d in th8 year. Incomè is rwnlsed when
the charity has ent[t￿ment to the ffijnds. tt 15 probable that the ingjrne will be recolve(l aNJ the amount
ran be measured re￿aNy.
le) Grants are the amounts pa￿ to the Varic￿ Parc¢hial Church Courrils during tho year ￿ acwrdanc@
wlth the charity's objects.
lfj Al works on the ￿intendr￿ and refuthi5hment Lrf the freelK)kJ vrtlilen durfng the year
In whlch they are Incuryed. Works rokting to any buikffings will be Ca￿tal￿g￿ Ir) thè fknancL81 perfod
thay occw and r&vaknd at thè yw-end to market vakn8 for iiclusion wrfhin our property pothlio.
Ig) Invegtments ar& shown on the ba￿[￿ sheet at their open market vakne at th8 yaar-8nd.
(h} Invgstment properties are Induded at valuatlon and are held for an inestmenl relum. The SOFA
includes th8 n8t gains a￿1 losses arisiry on revaknatw diswsaLs throughout the year.
111 Goneral funds are unrestricted fijnds whth are a¥￿￿ble for use al the discretion of Ihg trL¢Stees Sn
furtherance of th6 genaral obAectives of the chaiity and which hav8 not been designated for oth8r
purposes.
DesI￿atsd fijnds r￿MpriSe ￿reStri￿ fr￿dS thai have baon set asKIo by lh6 tnJste8s for parti(yJL4r
purposes. The and L￿e of each desi￿￿1 fuTrJ 15 set (xfi in the notes to Ihe finarwl stat￿nents.
Ul Trad8 and other debtors are recognised althe setuemenl arrrfyjntdue afterany trade dIS￿￿nI offor8d.
Prepayments are Val￿ at the anN)unt prepaNJ nel of any trado d￿C￿nts due.
Ikl Cash at bank and cash k) hand includes cash and short tenn h￿hty liquKI investments 8 short
matsjrity date of three rnonlhs lx ￿ from Ihe date of a￿ul511￿)n
111 Creditors and provisions are re(x)gnised when the charity has a present obl¥JatiDn rp8ulting fr(￿ a
past event Ihat wlll prc4)ably result in the transfer of ftjnds to a third party and the amount due to settle
thè obllgathn can be maaswed or estimated relw.
Im) Going Con¢em.' At the t￿e of apprnbryng the financial statements. the trustees have a re8sonabl8
expectation that IhB charity has adequate reswrces to continue in operational exister￿a for the
f￿eseeab1e future. Thus the trustees c&￿tinUe to adopt the gryng o)nGem basis of arKounting in
preparing the financial ststewnents.
13

THE CHURCH LANDS CHARITY
NOTES TO TrIE FINANCIAL STATEMEp¥rs
FOR ThIEPERIOD ENDEO 30 APRIL 2023
2. Judg•m¢nts arKI koy sourc•s of estimatlon uncertalnty
In the appllcatfon of the chaiiWs aC￿￿nIt￿g policies. the directors requlred to make judgements.
estimates and assumpth)ns a￿ut the carrylng amount of assets and Ilabilities that are not readlly
apparent from (rth8r sourc8s. The 8Stimai8s and associated assumptions are based on hl&torical
experience and other factor8 that are (x)nswJered to be relevanL Acbjal results may differ from these
85tima18S.
The estimal8s and und8rtyiNJ assumptions are rewewed on an outgoing basls. Revislons to acwunting
estlmates are recogni8ed in the Per￿)￿ in which the esbmate is revised where Ihe revision affects on
that perl¢yJ, or in the p8ri0d of th6 mision and )lJture pthM*% where Ihe rtivisw)n affects tK)th ￿rrent
and fvture periods.
Key sourc9$ 01 gStlmat• un¢ortalnty
Th8 eslmates and assumptiws whth have a $6gnlfjrant r￿k of cauwng a materlal adjustment to the
carrying amount of assets arKI liabilities are as follows..
Valuallon of Investment Pmperty
Thè valualon of the InVestr￿t proFwty as at 30th Atyil 2023 is based on thè wofe$51onal valuation
undertaken by FNlekl Glyn Ltd. as at 4th May 2023.
hanges to InveseRwnt Propertyportfollo
Durfng Ihe podod, there has boen no addilion5 or disposa15 of invesbnent propwty.
14

THE CHURCH LANDS CHARrrY
NOTES TO THE FINANCIAL STATEMEirrs
FOR ThTE PERIOD ENDED 30 APRIL 2023
3. Costs of Ralslng Funds
Gengral Deslgnated
Funds
Fund5
Total
2023
Total
2021
Propgrty Expendlturo
Commercial rT)anagement charge
Insurances
Rent Collection
chitecturdl Fees
Legal Fees
utilitigs
Maintenance and Re￿￿IshMent
11.500
102,848
11.5CiI
102,848
7,334
76,928
1,029
7,242
1,820
27.415
1.357
27,415
1.357
115,867
18.091
277.078
115.867
18.091
277.078
82,137
8,313
184,803
Miscellaneous
4. Investmant Income
General Deslgnatad
Funds
Funds
Totsl
2023
Totsl
2021
Interest on dewstt a¢￿)Unts
Lease Extens•)ng
License Fee income
Commarclal Rents
Cottage Rents
9.926
37.400
2.%7
312,851
639.219
9.926
37,400
2,567
312,851
G¥a219
25,692
1.766
221,718
457,7C
1.001.963
1,001,963
7(B,892
5. Expendltur• on Charltable Adlvltlos
G￿Oral De$lgnatad
Fund8
Funds
Total
2023
Total
2021
Grnnts and Donatlons
Parish Church of St Pet￿8
Parish Church of St Paul's
Parish Churth of St Luk8'S
352,OCX)
44,0(KJ
44,orx)
352,000
44,0(X)
44,000
288.000
33,500
33.500
335.0
6. Other Expenses
Gèn•rdl Do8lgnatgd
Funds
Funds
Total
2021
2023
Managernent Fees
Bad Debl Provision
Audit Fees
Bank Chorges
14.314
14.314
9,248
7.¢X)O
69
5,520
21.383
21.383
14,768
15

THE CHURCH LANDS CHARITY
NOTES TO THE FINANCIAL sfATEMENTS
FOR THE PERIOD ENDED 30APRIL 2023
7. Flxod Asset Inv08tments
Proport1•6
2023
2021
Morket value at 1 January 2022
Investsnent &Jdttions In the year
Falr value revaluatv)n
Mark8t value 8t 30 April 20¥3
16.319,090
15,403,747
145,538
769,805
16,319.090
(3.668.813
12.650.277
Investment property comwlses rent81 propertles. The fair value of Ihe investment pr￿eTty, as at 30 Jun8
2023, has been anfved at on the basls of a valualEon carried out on 4th May 2023 by Fifield Glyn Lirnit¢d.
who are not Conn￿led with tt)e charlty.
From time to time {￿Se￿ upon accounti￿ standards) the trustees arrdnge for a Red-Book vahjation of the
trust's portfollo {and appty Ind8xalh)n changos for inteTvenlng yoarsl. Tr 2023 Valuatton use(J a drff￿￿nI
approach than the prevlous Red-Book Valuation (conducted 9 years ago). Th8 ngw quantitativ8 mgthod
(basing V￿uatIOnS on rental income potential. rather than residential sejes wnarketl is fell to be a more
robust method to ewdence any fluctuation in prfolio vdue - e7Adenced by £3.6m reduction In portfollo
value.
8. Debtors
other debtors..
Rents held by agents
Prepaywnenls and 8¢xnJed inc¥)me
Recoverable from tenants
2023
2021
24,959
40,928
13,129
33,767
54.057
Within the Rents held by agents, is a sum 01 £24.959 (2￿21. £40.928) represènung rent in arrears at th8
balance sheet dale.
9. Llabllltles.. Amounts falllng duè
wlthln one year
2023
2021
Other CreditLYs
Trade creditors
81.075
17,861
98.936
68,955
35,698
104,654
10.Unre$trIct￿ Fun(ts
Dfyslgnatsd Fund
2021
Transfers Expended
2023
Renovation re8eNe
Redecoration rasè
Roof reserve
74,852
1(X).016
62,838
237.
13,333
26.672
40,000
80,005
88,185
126.688
102,838
317,711
The designated fund's purpose is to provide funds for the upke8p of prt¥Jerties, including the peri(Mlio
exierlor redec£Jratk)n ofthe Charitys propetyand the refurbishment of propths tt￿1 fall below current
standards.
16

THE CHURCH LANDS CHARITY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2023
11. Unrgslrf¢t•d Funds contlnugd
General Fund
This wmprise8:
ArKumulated surplu5
ReVa￿St10n resernle
2023
2021
4.560,021
8.492,039
4,349,024
12,160,852
13.052.060
16,509.876
2023
Total
2021
Total
UnrgstrIGt¢d Dgslgnated
F￿d assets
Current assets
12.332,566
7￿,930
317.711
11650,277
790,930
16,319,090
533.146
Current UabIll￿e9
(T1,436}
(71.436)
(104,6541
13,052.060
317,711
13.369.771
16,747,582
IZ Truststr's Remunernti¢
No rgrnunerafion is paid nor any exper￿8& reimburs￿ to the tru8tee8.
13. Rolatod Partlos
During Ihe year the followirrtJ trwwctions took fv TMLh related parknes:
2023
2021
Donatlons madg
St Peterfs PCC
st Paul's PCC
St Luke'8 PCC
268,0(Kl
33.500
33,500
41,250
41,250
412.5CA)
335.fxKJ
Al of Ihe aL￿e are related pwues thr(wh thoir involvement in d￿mIlng appoinknonts to the board of
trustees.
14. Control
The charity is under the ¢))nlrcl ofthe of InJ8tee8.
17

THE CHURCH LANDS CHARITY
NOTES TO THE FINANCIAL STATEMEPUS
FOR 7HE PERIOD ENDED 30APRIL 2023
15. Roconclllatlon of not rnovoment In funds to net flow from operatln9 activitt8S
2023
2021
Nèt movement In lunds
Deduct Interest Income shown In Investing *iVi￿8
R8valuallon of ftxod assets
Decrease in debtors
Dgcrease in c¥edito
{3.377.8111
(9,9261
3.668,813
20,290
(33,218)
944,126
(91
1769,8051
8.133
10.697
Not cash used In oporatlng actlvltlos
268,148
193.141
16. Legal Forn)
The charlty Is an ￿nI￿rporated enuty rog￿t￿ed wilh the Chwlty Commission ort 6th June 1995.
18

THE CHURCH LANDS CHARrrY
ROTAMN OF TRUSTEES
FOR THE PERIOD ENDED 30 APRIL 2023
Nama
Date of Rellroment
Rev M Dearnley (vicar at St Peter)
Nomlnated by Parochlal Church Councll of St
Peter For a t•mi of four y8ars
Mr M W￿ler
Holen8 Ellls
Mr M Olver (Chairman)
Mrs G Taylor
June 2025
arch 2024
March 2025
Reslgnad
March 2023
Due to an increase In other work ￿Mmitments. Mrs G Taylor had
to step down from her role as tr8asurer at St Peters and atso as a
trustge for thi5 Trust.
Nomlnated by Parochlal Church Councll of St Luke
For a term of fouryears
r P Kasar
June 2026
Nomlnated by Parochlal Church c(￿ncIl of St Paul
For a tèrni of four years
Mr L Garsklo
October 2024