Charity number: 211409 THE CHURCH LANDS CHARITY ANNUAL REPORT OF THE TRUSTEES AND STATEMENT OF ACCOUNTS FOR THE YEAR ENDED 30 APRIL 2024
THE CHURCH LANDS CHARITY CONTENTS Page The Trustees and Officers Annual Report of the Trustees Independent Auditors. Report Statement of Financial Activities 10 Balance Sheet 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 OlveT Mr L Garside Ms R Coady Mr A Hall Rev M Dearnley Principal Office St Peter's Church St Peter's Street St Albans Hertfordshire AL13HG Charlty Reglstratlon Number 211409 Clerk Colllnson Hall 9-11 Victoria Street Sl Albans Hertfordshire AL1 3UB Accountants Collinson Hall 9-11 Victoria Street St Albans Hertfordshire AL1 3UB Archltect Cannon Morgan & Rheinberg Partnership 38 Holywell Hill St Albans Hertfordshire AU1 18U
THE CHURCH LANDS CHARITY TRUSTEES, ADMINISTRATOR AND ADVISERS l¢ontinuedl Property Agents Collinson Hall 9-11 Victoria Street Sl Albans Hertfordshire AL13UB Sollcltors Debenhams 0tt8way Ivy House 107 St Peters Street St Albans Hertfordshire AL13EW AudFtors Mercer & Hole LLP Gloucester House 72 London Road Sl Albans Hertfordshire AL1 1NS Bankers Natwesl Bank plc St Albans Branch 10 St Peters Street St Alb8ns Hertfordshire AL13LY
THE CHURCH LANDS CHARITY ANNUAL REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 APRIL 2024 The truslees present the slalutory report with the accounts of The Church Lands Charity for the year ended 30 April 2024. Constltutlon The charity was regulated by a schedule sel out by the Charity Commission on 29 July 1881 and re- established by a new scheme of the Charity Commission dated 6 June 1995. The registration number 1$ 211409. Trustees and Offlcers 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 19. Trustees serve 2 four year term which is renewable. New Iruslees are provided with documentation lo enable them to appreciate the Trusvs objectives. organisation, method of operation and their responsibilities under the law. In addits'on existing trustees assist them in becoming fully conversant with their role. Prlnclpal Aims and Actlvltles The objects ofthe charity are'.- a. To provide funds for the upkeep and maintenance of the fabric of the Parish Churches of Sl Pelerfs, St Paul's and Sl Luke's all being in Sl Albans, Hertfordshire. Preference is given lo the needs of St Peterfs., and b. To further the lIgIouS and other charitable purposes of the Church of England in any or all of these Parishes. 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 Iruslees make grants periodically lo the Parishes, with preference for St Peler'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 propety in St. Albans. It is the policy of the Trustees lo ensure properties are maintained in good order and the income is maximised. The annual gross comrnercial rents have increased lo £273.032 12023.. £312,851 over 16-monlh periodl and the residential rents have increased to £495.129 (2023.- £639,219). There has been no change in this policy since last year. During the year grants of £457,500 {2023'. £440.000) were made to the churches as shown in Note 5 to the Accounts. The trustees. objective of maximising income has been met this year. and further opportunities to enhan¢e in¢ome are actively being sought.
THE CHURCH LANDS CHARITY ANNUAL REPORT OF THE TRUSTEES Icontinuedl FOR THE YEAR ENDED 30 APRIL 2024 Organisation The trustees meet three times a year lo review the progress of the eharity and to decide upon the policy to be adopted. The chairman and clerk are the executive officers who carry out the wishe5 of the trustees. Application of Income The income of the charity after expenses is to be applied towards the maintenance and fabrie of the Parish Churches of the Ecclesiastical Parishes of St. Peter, St. Paul, and St Luke, in the diocese of St Albans wrth preferen¢e for St. Peter. andlor furthering the work of the Church of England in these parishes. The grants made are shown in Note S to the accounts. All three churches make themselves and their services available lo all parishioners and residentswithout charge. The trtjstees consider that by supporting the three churches they are fullilling the charity's public benefit requirement. Investment Pollcy The trustees periodically review any deposits and lake professional advice lo ensure that maximum interest is earned. The trustees wish for any investments lo be low risk and deposits are therefore held with the CBF Church of England fund. Future Obligatlons 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 Plan5 The Iruslees intend to continue along the same lines as they are currently operating. They want lo maintain and enhance the existing propety portfolio. thereby preserving the income stream and maximising the distributions to the beneficiaries. R¢$erves Pollcy The charity's reseNes are reviewed on an annual basis. The trustees, policy is to maintain the real value of the ¢harity's assets, after aceounling for distributions. In addition, the trustees seek lo maintain free reseNes of £50,000 lo cover any unforeseen expenditure. Rlsk Assessment The trustees have fully reviewed the areas of risk to the charity, being business, comrnercial and financial risk. Although the areas of risk are deemed to be few, the main risk is the possibility of fluctuations in the propety market and reduced income from properb.es not being let. Publle Benefit The Trustees confirm that due regard has been paid lo the public benefit guidance published by the Charity Commission.
THE CHURCH LANDS CHARITY ANNUAL REPORT OF THE TRUSTEES (continwd) FOR THE YEAR ENDED 30 APRIL 2024 Stat•m•nt olTrust••s' R•Spolb11IdaS The trustses arE TesFon5It9 for pr8parfng the Truslggs. Annual Report and th8 finandal statements in accardance wlth appllcabl& law and United Kingdom A¢iy)unth'ng Standards (Uniied lQ"ngd¢Jn Generally AccountlrvJ Practlcal. The law ap1¢able to tharfti9s in Engkqnd & Wales requires the Irusleès to preparefinancial slatementsfor ea¢h finanaal year give a trua and falr wew of1he stote of affairs of the charity and of tha irthmlng r95ources and 8pplcation of r6sourcesof the tharftyfr>rthat period. In prepadng thesefinaneAo1 slatements. the Irustges are required ta. s8lect suitable a&untirvJ policies and Ihen apply them ¢JJnsistenlly. obsgrvo the mèthods end prlnc4ples in the Charities SORP 2019 IFRS 102)., make judgm8nts and esth'malas that are reasonabl8 ond pNdent state whether applicable antIng standartis have teen fdl(YrfwJ, sutyact to any mgtgrfal departtJTes dSsck)5ed and 6xplained In the finandal statements. prepare the flrtanclal stat8menls on the golng o)ncem basis un18s5 il is in8pppriate to [eSuMe that the charlty wll o)ntinua In operatton. The trustees ar6 reswrtsible for k09plng proper aecounllng rerdS that disctose wlth reasonable a¢TaGY al any tlme the )InancHJ poSIon of the charity and enae them to 8nsure that Ihe finanTral stalements compfy vrilh tha Charili85 Act 2011, the Charity (A(wunts ar¥J Reports) RegulatK)ns 2008 ond th provlsions of the trust daed. Th8yar9 also resp51b1ef0r safeguarding tre assets of the chanty and henoe for taking reasonabla steps for lh& prnvention and dgtgction offraud and olw irregularib'es. Siwad on b8haifof Ihg Trustees: Apwoved bythe Thlstees on lid LLIOIZL
THE CHURCH LANDS CHARITY INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE CHURCH LANDS CHARITY FOR THE YEAR ENDED 30 APRIL 2024 We have audlted the financial statements of The Church Lands Charity (the 'charity'l for the year ended 30 April 2024 which comprise the Statement of Financial Activities, the Balance Sheet and notes to the financial slalemenls, 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 Republtc of Ireland (United Kingdom Generally Accepted Accounting Praclicel. In our opinion the financial statements: give a true and fair view of the state of the charity's affairs as 8t 30 April 2024, and of its in¢oming resource5 and application of resources. including its income and expenditure, for the year then ended.. have been properly prepaied in accordance with United Kingdom Generally Accepted Accounting Practice., and have been prepared in accordance with the requirements of the Charities Act 2011. Basls for oplnlon We conducted our audit in accordance with International Stsndards on Auditing (UK) IISAS IUKII 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 Stsndard, 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 relatif7g lo events or conditions that. individually or collectively, may cast significant doubt on the charity's ability lo continue as a going concern for a period of at least e1ve months from when the financial statements are aulhoTised for issue. Our responsibilities and the responsibilitie5 of the trustees with respect lo going concern are described in the relevant sections of this report. Other information The other information comprises the information included in the Iruslees annual report, other than the financi81 slalements and our auditor's report Ihereon. The Iruslees 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 lo the extent otherwise explicitly stated in our report. we do not express any fomi of assuran Conclusion thereon. Our responsibility 15 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 lo be materially misstated. If we identify such material inconsistencies or apparent
THE CHURCH LANDS CHARITY INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE CHURCH LANDS CHARITY Icontinuedl FOR fHE PERIOD ENDED 30 APRIL 2024 material misslalements, we are qUired lo determine whether this gives rise to a material miss18tement in the financial stslemenls themselves. If, based on the work we have performed, we conclude that there is a material misstalemenl 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 fequire us lo report to you if, in our opinion.. the information given in the financial statements is inconsistent in any material respect with the trustees. report., or sufficient accounting records have not been kept., or the financial statements are not in agreement with the accounting records,. or we have not received all the information and explanations we require for our audit. Responslbilitie$ of trusteos As explained more fully in the trustees, responsibilities statement sel out on page 5. the trustees are responsible for the preparation of financial statements which give a true and fair view, and for such inlemal control as the trustees determine is necessary to enable the preparalion of finan¢ial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial stalemenls, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing. as applicable, matters related lo going concern and using the going concern basis of a¢counling unless the trustees either intend to liquidate the charity or tr) cease operations, or have no realistic altemalive but to do so. Audltor's responslbllltles for the audlt of the financial statements We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordan¢e with re9ulalions 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 lo fraud or error, and lo 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 delecl a material misstatement when it exists. Misstalemenls 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 ofthese financial stalemenls. Irregularities. including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our spOnSIbl1111es, outlined above, to delecl material misslalemenls in respect of irregularities. including fraud. The specific procedures for this engagement and the extent lo which these are capable of detecting irregularities. including fraud is detailed below.
THE CHURCH LANDS CHARITY INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE CHURCH LANDS CHARITY Icontinuedl FOR THE YEAR ENDED 30 APRIL 2024 Explanation as to what extent the audit wa$ ¢on$idered capable of detecting Irregularltles, 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 managemenvs 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 lo 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.. 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 lo prevent and detect irregularities., and Identfying and testing journal entries. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading lo a material misstatement in the financial statements or non<ompliance 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 stslements, as we will be less likely to become aware of instances of non-corTrpliance. 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 FinanGial Reporting Council's website at.. s.'Ith.frc.O .uklOur-WorklAudiUAudil-andas5urancelStandards-and uidancelSlandards-and- uidance-for-audilorslAudilors-res onsibilities-for-audiVDescri lion-of-auditors-res onsibilities- foraudit.as x. This description fomis part of our auditorf5 report.
THE CHURCH LANDS CHARITY INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF THE CHURCH LANDS CHARITY Icontinuedl FOR THE YEAR ENDED 30 APRIL 2024 Uso 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 slate to the charity's Iru51ees those matters we are required lo slate to them in an auéilorfs report and for no other purpose. To the fullest exlenl 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. S Roblnson For and on behalf of.. Mercer & Hole LLP Chartered Accounlanls & Registered Auditors Gloucester House 72 London Road st Albans Herts. AL1 1NS
THE CHURCH LANDS CHARITY STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 APRIL 2024 Year Ended 30 April 2024 Yoar Endgd 30 April 2024 Year Ended 30 April 2024 Period Ended 30 April 2023 Period Ended 30 April 2023 Period Ended 30 April 2023 Note General D8signated Funds Funds Total Funds General Deslgnated Funds Funds Total Funds Income and Endowments Investment Income 828,837 828,837 1,001.963 1,001.963 Total Income 828,837 828 837 1,001,963 1.001,963 Expenditure Costs of Raising Funds.. Property Expenditure Expenditure on Charitable Activities.. Grants & Donations Other 248.456 16,964 265,420 277,078 277,078 457,500 18,116 457,500 18,116 440,000 21,383 440,000 21,383 Total Expenditure 724,072 741,036 738,461 738 461 Fair Value Revaluation of Properties {3,668,8131 {3.668,813) Net lTrcomellExpenditure) 104.765 (16.9641 87.801 263,502 263.502 Transfers between funds 160.0041 60.004 {80,0051 80,005 Net Movement in Funds 44,761 43.040 87.801 (3.485,316) 80,005 13,405,311) Reconclliation of funds: Total funds brought forward at 1 May 2023 13.024 560 317 711 13 342271 16 509 876 237.706 16 747 582 Totsl funds Carried forward at 30 April 2024 13.069,321 360,751 13.430,072 13,024.560 317.711 13,342,271 All recognised gains and losses for the year are included in the Statement of Financial Activities. 10
THE CHURCH LANDS CHARrr BALANCE SHEEr ASA T30APRIL 2024 Note 2024 2023 2023 FLYed Assets Invastmonts 12,650.277 12.850,277 GurrentAss•ts Debtots Cash at bank and in hand 26,603 871,992 33,767 757.163 898.595 7,930 Credltofs: amounts trdlllng due wlthln OM year 936 691,994 Total ass•ts l•ss currnnt Ilabllloes 13.430,072 13.342.271 Net A880ts 13 430 072 Fund¥ Unrestricted: Denaled funds General fijnds.. Acttjmulated sUlUS R&valu'on and fairvalue TeseT¥e 10 360,751 317.711 4,577.282 8,492.039 4.532,521 8.492.039 13 430.072 13342271 ApproveAI by lh& Tru*ees on 4 and sfigned on their belf by.. M Olver (Chalmian of Trustees) Th& noteson pw 13 to 18 fDnn part ofthese accounts
THE CHURCH LANDS CHARITY CASH FLOW STATEMENT FOR THE YEAR ENDED 30 APRIL 2024 Note 2024 2023 Net cash used in operating activities 14 84,236 268,148 Cesh flows from investing activitie5 Fixed asset investment additions Interest received Net Cash provided by investing activities 30.523 9.926 Change in cash and cash equivalents in tho yoar 114,759 278.074 Cash and cash equivalents brought forward 757,163 479,089 Cash and cash equivalents carried forward 871922 757 163 12
THE CHURCH LANDS CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024 1. Accountlng Pollcles lal The financial statement have been prepared under the historical cost conversion, modified to include the revaluation of investments and in ac¢ordan¢e with applicable Accounting Standards and Statement of Recommended Practise, Accounting and Reporting by Charitie5 preparing their accounts in accordance with the Finan¢ial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) issued on 1 January 2019 and the Charities Act 2011. The charity constitutes a publi¢ benefit entity as defined by FRS 102 (b) Reporting period.. These financial statements cover 8 12 month period. The comparative information covers a 16 month period11 January 2a22- 30 April 20231. (cl Property income represents rents receivable in the year and property expenses are those inCUrd in the year. This is accounted for on an accruals basis. {d) Investment income represents dividends and interest received in the year. Income is recognised when the charity has entidemenl to the funds. il is probable that the income will be received and the amount an be measured reliabty. (el Grants are the amounts paid to the various Parochial Church Councils during the year in accordance with the charity's objects. (fj All works on the maintenance and refurbishment of the freehold propety are written off during the year in which they are incurred. Works relating lo any new buildings will be capitalised in the financial period they occur and re-valued at the year-end to market value for inclusion within our property portfolio. Ig) Investments are shown on the balance sheet at their open market value at the year£nd. {h) Investment properties are irscluded at valuation and are held for an investment return. The SOFA includes the nel gains and losses arising on revalualior¢s and disposals throughout the year. (i) General funds are unreslricled funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. 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 stalemenls. (i.) Trade and other debtors are recognised at the settlement arnount due after any tfade discount offered. Prepayments are valued at the arnount prepaid nel of any trade discount5 due. (k) Cash al bank and cash in hand includes cash and short lerm highly liquid investments with a short maturity dale of three months or less from the dale of 8CqUlSltion (l) Creditors and provisions are recognised when the charity has a present obligation resulting from a past event that will probably result in the transfer of fvnds lo a third paity and the amount due to settle the obligation Can be measured or estimated reliably. {ml Going Concern.. Al the time of approving the financial slatemenls. the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements. 13
- Judgements and key sources of estimation uncertainty In the application of the charity's accounting policies, the directors are qUId to make judgements. estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other Soufces. 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 ongoing basis. Revisions lo accounting estimates are re¢ognised 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 riOds. Key sources of estlmate uncertainty The eslimales and asSLJmplions which have a significant risk of caLt$ing a material adjustment lo the carrying amount of assets and liabilities are as follows.. Valuation of Investment Propety The valuation of the Investment property as at 3 April 2023 is based on the professional valuation undertaken by Rod Welfare as al 301h April 2023. This is then revised each year in line with market indices. A review of the valuation as at 30th April 2024 ha5 been undertaken by the trustees who have proposed no change in valuation. Changes to Investment Propertypotlolio During the period, there has been no additions or disposals of investment propety. 14
THE CHURCH LANDS CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024 3. Co$ts of Raising Funds General Designated Funds Funds Total 2024 Total 2023 Property Expenditure Commercial management charge Insurances Rent Collection Architectural Fees Legal Fees 9,274 84,084 2,237 23,945 4,765 9,274 84,084 2,237 23,945 4,765 71,500 102,848 27,415 1,357 Property Maintenance and Refurbishme 113,450 10,701 248,456 16.964 130,414 10,701 265.420 115.867 Miscellaneous 16.964 277.078 4. Investment Income General Funds Deslgnated Funds Total 2024 Total 2023 Interest on deposit accounts Lease Extensions License Fee income Commercial Rents Cottage Rents 30.523 28.108 2.045 273.032 495.129 30,523 28,108 2,045 273,032 495,129 9,926 37,400 2,567 312,851 639,219 828.837 828,837 1,001,963 5. Expenditure on Charitable Activities General Funds Deslgnated Funds Total 2024 Total 2023 Grants and Donations Parish Church of St Peter's Parish Church of St Paul's Parish Church of St Luke's 366.000 45,750 45,750 457,500 366,000 45,750 45,750 457,500 352,000 44,000 440,000 6. Other Expenses General Funds Deslgnated Funds Total 2024 Total 2023 Management Fees Bad Debt Provision Audit Fees Bank Charges 8,460 307 9,260 89 8.460 307 9.260 89 14,314 7,000 69 18,116 18,116 21,383 15
THE CHURCH LANDS CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2024 7. Fixed Asset Investments Properties 2024 2023 Market value at 1 May 2023 Investment additions in the year Fair value revaluation 3.668 813 Market value at 30 April 2024 12,650,277 The Investment Properties were last valued on 30 April 2023 by Rod Welfare. The Trustees have used their own judgements and assessments to value the properties at 30 April 2024. 12.650,277 16,319,090 12.650,277 8. Oebtors Other debtors.. Rents held by agents Prepayments and accrued income Recoverable from tenants 2024 2023 16,571 10,032 24,959 8,808 26,603 33,767 Vthin the 'Renls held by agents, is a sum of £16,87912023.' £24.959} representing rent in arrears at the balance sheet dale. 9. Liabilities: Amounts falllng due within ono year 2024 2023 Other Creditors Trade creditors 92,581 81,075 118,800 98.936 10. Unrestricted Funds Designated Fund 2023 Transfers Expended 2024 Renovation reserve Redecoration reserve Roof reserve 88,185 126,688 102 838 317,711 10.000 10,004 40,000 60,004 98,185 119,728 142,838 360,751 (16.9641 {16.9641 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 30 APRIL 2024 10. Unrestri¢ted Fund5 continued General Fund This comprises.. A¢¢umulated surplus Revaluation reserve 2024 2023 4,577,282 8,492,039 4,560,021 8.492.039 13,069,321 13.052,060 2024 Total 2023 Total Unrestrlcted Designat¢d Fixed assets Current assets 12.289,526 898.595 360,751 12,650,277 898,595 12,650,277 790,930 Current liabilities 1118,8001 {118.800) 171,4361 13,069.321 360,751 13,430.072 13,369,771 11. Trustee's Remuneration No remunerdtion is paid nor any expenses reimbursed to the trustees. 12. Related Parties During the year the following transactions took place with related parties.. 2024 2023 Donatlons made st Pelevs PCC St Paul's PCC St Luke's PCC 366,000 45,750 45,750 330,000 41.250 41.250 457,500 412.500 All of the above a related parties through their involvement in deciding appointments to the board of Iruslees. 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 30 APRIL 2024 14. Reconciliation of net movement in funds to net cash flow from operating activities 2024 2023 Nel movement in funds Deduct interest income shown in investing activities Revaluation of fixed assets IlncreasellDecrease in debtors IncreasellDecreasel in creditors 87,801 130.5231 13.377,811} 19,9261 3,668,813 20,290 133,2181 7,094 19,864 Net cash used in operating activities 84,236 268,148 15. Legal Form The charity is an unincorpor*ed entity registered with the Charity Commission on 6th June 1995. 18
THE CHURCH LANDS CHARITY ROTATION OF TRUSTEES FOR THE PERIOD ENDED 30 APRIL 2024 Name Date of Retirement Rev M Deamley Ivicar at st Peter) Ex-officio Nominated by Parochial Church Councll of St Peter For a term of four years M Waller H Ellis M Olver {Chaimianl A Hall R Coady June 2025 November 2022 March 2025 March 2028 March 2028 Nominated by Parochial Church Council of St Luke For a tèrm of four years P Kaser June 2026 Nomlnated by Parochial Church Councll of St Paul For a terrn of four years L Garside October 2024 19