**Charity No: 211448**
## **THE CHURCH ESTATE**
## **ANNUAL REPORT AND FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED**
**31 DECEMBER 2022**
## **THE CHURCH ESTATE**
## CONTENTS
||**Page**|
|---|---|
|Charity details|1|
|Trustees' annual report|2|
|Independent examiner's report|3|
|Statement of financial activities|4|
|Balance sheet|5|
|Notes to the financial statements|6|
**THE CHURCH ESTATE**
## CHARITY DETAILS
**Trustees:** June Eckton Robert Tugwell Sally Howells Dione Nyangon **Charity number:** 211448 **Independent examiner:** Marcel Jung, FFA/FIPA, FAIA **Address:** Ty Saith Vicarage Weavering Street Weavering Maidstone Kent ME14 5JQ
Page 1
## **THE CHURCH ESTATE**
TRUSTEES' ANNUAL REPORT
FOR THE YEAR ENDED 31 DECEMBER 2022
The trustees have pleasure in presenting their report for the year ended 31 December 2022.
The accounts have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity’s governing document, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard for Smaller Entities published on 16 July 2014.
## **Structure, governance and management of the charity**
## **Governing document**
Constitution – Scheme dated 15 September 1877 and resolution dated 22 May 2012.
The Trustees who have served during the year are set out on page 1.
## **Risk management**
The trustees have examined the major strategic, business and operational risks which the charity faces and confirms that systems have been established to enable regular reports to be produced so that the necessary steps can be taken to lessen the risks.
## **Charity’s objectives, activities and achievements for the public benefit**
## **Objects of the charity**
The objects of the charity are to use one half of the income for the upkeep of the fabric of Thurnham Church and the other half for the maintenance of church services.
## **Charity’s activities and achievements during the year**
The trustee has referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the charity’s aims and objectives and in planning future objectives.
## **Financial review**
The (deficit)/surplus for the year was £(2,948) (2021: £31.284). Details of income and expenditure for the year are shown in the Statement of Financial Activities on page 4.
## **Reserves policy**
The balance held on the unrestricted income fund at the end of the year was £83,770 (2021: £71,107). The charity maintains sufficient reserves to fund maintenance of the 4 properties which it owns. The restricted fund is in respect of the fabric fund and the endowment fund represents trust capital following land sales in 1969 and 1986.
………………………………….. June Eckton
Page 2
**THE CHURCH ESTATE**
INDEPENDENT EXAMINER’S REPORT
I report on the accounts of the charity for the year ended 31 December 2022 which are set out on pages 4 to 6.
## **Respective responsibilities of trustees and examiner**
The Charity’s Trustees are responsible for the preparation of the accounts. The Charity’s Trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
It is my responsibility to:
- examine the accounts under section 145 of the 2011 Act;
- follow the procedures laid down in the General Directions given by the Charity Commissioners under section 145(5)(b) of the 2011 Act; and
- state whether particular matters have come to my attention.
## **Basis of independent examiner’s report**
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the Charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and, consequently, no opinion is given as to whether the accounts present a "true and fair view" and the report is limited to those matters set out in the statement below.
## **Independent examiner’s statement**
In connection with my examination, no matter has come to my attention:
- 1 which gives me reasonable cause to believe that in any material respect, the requirements:
- to keep accounting records in accordance with section 130 of the 2011 Act; and
- to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act;
have not been met; or
2 to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
…………………………………………… **Date** …………………………. **Marcel Jung, FFA/FIPA, FAIA**
Page 3
## **THE CHURCH ESTATE**
## STATEMENT OF FINANCIAL ACTIVITIES
## FOR THE YEAR ENDED 31 DECEMBER 2022
|**INCOME**
Rental income
Investment income:
C of E Fixed Interest Fund
COIF Dividends
COIF Fixed Interest Fund
Deposit account interest
Deposit Fund interest
**Total incoming resources**
**RESOURCES EXPENDED**
Maintenance
Insurance
Professional fees
Misc
Bank charges
Distribution to PCC
**Total resources expended**
Net incoming resources before transfers
Transfers between funds
Net incoming resources
before other recognised gains/(losses)
Increase/(decrease) in value of
investments
**Net movement in funds**
Balances brought forward 1 January
Balances carried forward 31 December|Unrestricte
d
Restricte
d
Endowmen
t
**Total**
Funds
Funds
Funds
**2022**
£
£
£
**£**
34,564
-
-**34,564**
309
-
-
**309**
7,615
-
-
**7,615**
726
-
-
**726**
-
653
-
**653**
74
**74**
43,288
653
- **43,941**
8,427
-
-
**8,427**
2,144
-
-
**2,144**
5,235
-
-
**5,235**
-
-
-
-
-
**-**
-
-
**-**
15,806
-
**15,806**
27,482
653
-**28,135**
-
-
-
**- **
27,482
653
-**28,135**
(14,820)
(16,264)
**(31,084**
**)**
12,662
(15,611)
**(2,949)**
71,107
204,949
105,771
**381,827**
83,770
189,338
105,771
**378,878**|Total
2021
£
26,189
371
7,377
867
8|
|---|---|---|
|||34,812|
|||20,678
1,868
6,556
661|
|||29,763|
|||5,049
-|
|||5,049
26,235|
|||31,284
350,543|
|||381,827|
Page 4
## **THE CHURCH ESTATE**
## BALANCE SHEET
## AS AT 31 DECEMBER 2022
|Note
**DEBTORS**
**BANK ACCOUNTS**
**DEPOSIT FUNDS (COIF)**
Estate Reserve
Fabric Fund
**Creditors - amounts falling due**
**within one year**
**Net current assets**
**INVESTMENTS**
2
**COIF Charities Investment Fund**
**Income**
Trust Capital
Fabric Fund
**COIF Charities Fixed Interest**
**Income**
Trust Capital
Fabric Fund
TOTAL ASSETS
**TOTAL ASSETS BY FUND**
Unrestricted
Restricted
Endowment|**2022**
**£**
**77,219**
**1,235**
**35**
**67,528**
**67,563**
**(-)**
**146,01**
**7**
**102,19**
**8**
**101,34**
**3**
**8,854**
**20,466**
**232,86**
**1**
**378,87**
**8**
**83,770**
**189,33**
**8**
**105,77**
**1**
**378,87**
**8**|2021
£
49,737
1,235
35
66,876
66,911
(-)
117,88
3
115,64
5
114,67
8
10,225
23,395
263,94
4
381,82
7
71,107
204,94
9
105,77
1
381,82
7|
|---|---|---|
The accounts have been prepared in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).
Page 5
## **THE CHURCH ESTATE**
The Trust also owns 4 cottage properties which are insured for an indicative value of £360,000.
The accounts were approved by the Trustee on and signed on their behalf by
………………………... Rev Rob Tugwell
Page 6
## **THE CHURCH ESTATE**
## NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2022 **Accounting policies**
The accounts have been prepared under the historical cost convention and in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard for Smaller Entities published on 16 July 2014, the Financial Reporting Standard for Smaller Entities (FRSSE), and the Charities Act 2011 and UK Generally Accepted Practice as it applies from 1 January 2015.
The accounts (financial statements) have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair’ view. This departure has involved following the Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard for Smaller Entities published on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
## **Income and expenditure**
Income and expenditure are included in the statement of financial activities on the accruals basis.
## 2 **Investments**
Investments are valued at mid-market value at 31 December.
## 3 **Unrestricted income fund**
The fund is to be applied for the principal objects of the charity as described on page 2.
## 4 **Trustees**
No remuneration or other benefits were paid to the charity’s trustees or people connected with them.
Page 7