Charlty number: 211409 THE CHURCH LANDS CHARITY ANNUAL REPORT OF THE TRUSTEES AND STATEMENT OF ACCOUNTS FOR THE YEAR ENDED 30 APRIL 2025 THE CHURCH LANDS CHARITY CONTENTS Page The Trustees and Offi¢ers Annual Report of the Trustees Independent Auditors, Report Slalemenl 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 R Coady Mr A Hall Rev M Dearnley Principal Office Sl Peter's Church Sl Peter's Street St Albans Hertfordshire AL1 3HG Charty Registration Number 211409 Clerk Collinson Hall 9-11 Victoria Street Sl Albans Hertfordshire AL13UB Accountants Collinson Hall 9-11 Victoria st￿et St Albans Hertfordshi AL13UB A￿hItect Cannon Morgan & Rheinberg Partnership 38 Holywell Hill St Albans Hertfordshire AU1 IBU THE CHURCH LANDS CHARITY TRUSTEES. ADMINISTRATOR AND ADVISERS (contlnuedl Property Agents Collinson Hall 9-11 Victoria Street Sl Albans Hertfordshire AL1 3UB Sollcltors Debenhams Ottaway Ivy House 1 D7 Sl Peters Street St Albans Hertfordshire AL13EW Audltors Mercer & Hole LLP Gloucester House 72 London Road St Albans Hertfordshire AL1 IMS Bankers Natwesl Bank plc Sl Albans Branch 10 Sl Peters Street Sl Albans Hertfordshire AL1 3LY THE CHURCH LANDS CHARITY ANNUAL REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 APRIL 2025 The trustees present the stalulory report with the accounts of The Church Lands Charity for the year ended 30 April 2025. Constitutlon The charity was regulated by a schedule set out by the Charity Commission on 29 July 1881 and re- estsblished by a new scheme of the Charity Commission dated 6 June 1995. The registrats'on number is 211409. Trustees and Officers The names of the Trustees and Officers who have served during the year are shown on the Trustees, Adminislralors and Advisers page of this report. The method of appointment of each trustee is shown on page 19. Trustees Serve a four year term which is renewable. New Iruslees are provided with documentation to enable them to appreciate the Trust's objectives. organisalion, method of operation and their responsibilities under the law. In addition existsng tmstees assist them in becoming fully conversant with their role. Principal Aims and Activities The objects of the charity are-.- a. To provide fvnds for the upkeep and maintenance of the fabric of the Parish Churches of St Peterfs, St Paul's and Sl Luke's all being in Sl Albans, Hertfordshl￿. Preferen¢e is given to the needs of St Peter'5,' and b. To further the religious 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 trustees make grants periodically lo the Parishes, with preference for St Peter's. Trustees are kept aware of the application of those grants by reports from the trustee5 appointed by the relevant Parish. Originally the Charity was endowed with retail and domestic property in St. Albans. 11 is the policy of the Trustees lo ensure properties are maintained in good order and the income is maximised. The annual gross commercial rents have decreased lo £264.684 12024.. £273,032> and the residential rents have increased lo £540.98712024.. £495,129). There has been no change in this policy since last year. During the year grants of £445,50012024', £457,500) were made lo the churches as shown in Note 5 to the Accounts. The trustees, objective of maximising income has been mel this year, and further opportunities to enhance income are actively being sought. THE CHURCH LANDS CHARITY ANNUAL REPORT OF THE TRUSTEES (contlnued} FOR THE YEAR ENDED 30 APRIL 2025 Oryanisatlon The tr￿SteeS meet three limes a year to review the progress of the charity and to decide upon the policy to be adopted. The chairman arld clerk are the executive officers who carry out the wishes of the trustees. Appllcatlon of Income The income of the charity after expenses is to be applied towards the mainlen2nce and fabrsc of the Parish Churches of the Ecclesiastical Parishes of Sl. Peter, St. Paul, and Sl. Luke, in the diocese of Sl Albans with preference for Sl. Peter, andlor furthering the work of the Church of England in these parishes. The grants made are shown in Note 5 to the accounts. All three churches make themselves and Iheirserviees available lo all parishioners and residentswi(houtcharge. The Iruslees consider that by supporting the three churches they are fulfilling the charity's public benefit requirement. Investment Policy The Iruslees 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 Obllgations The trustees are ever mindful of the reliance by the Charity on its freehold property but consider ils resources are adequate lo fulfil ils obligations. 11 has no contractual commitments of a capital nature. Future Plans The Iruslees intend to continue along the same lines as they are currenlty operating. They want to rnaintain and enhance the existing property portfolio. thereby preserving the income stream and maximising the distributions lo the beaeficiaries. Reserves Policy The chartty's reserves are reviewed on an annlsal basis. The trustees, policy is lo maintain the real value of the charity's assets, after accoullting 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 ol risk lo the charity. being business, commercial and financial sk. Although the areas of risk are deemed lo be few, the main risk is the possibility of fluclualions in the property market and red¢Jced 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. THE ¢HUR¢H LAN08 CIIARITY ANIIUAL REPORTOF TRUSTEES (coftllNwdl Statem￿01 Tn*t#Ès' R8JponJlbllltl•* Th8 INsi86s ore ro$po￿lble for p￿parfng th$ Tw¥i¢trs' Annual Re￿$rt and th& f07aK4¥18tatern8nts In ac[4yd￿ wilh law and Unmed langdom A￿D￿n￿Rg Slandards (Vrlled lQnydoFft Genera ThtslthtgpplW￿1o￿a1ILles In EngF8nd & W818J requlre8 lhotr￿￿O810 prnp•re fir￿￿lat statsments for oach finan¢lg1 y¢arwthkh gb¥g a true and lawvlw* ofthg •t* ofaffairn vfth? chaTity and of Ihe Smm resourt¢$ snd applkation ofrnAour¢K ofthe thartyfOrthatWi￿. In propw¥vJ Iheeg financlal statsmenl4 thè trUG1e￿ arè reqLllrBd to: selg(a pdKiBS and then appty Ihgm £￿8￿1￿.. ob8eNethe methods 8nd prlwes In tho Charftl8s 8ORP 2019