Reglgtered Charlty No. 212738 THE EARSHAM CHURCH TRUST (TOWN ESTATE) ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2021 THE EARSHAM CHURCH TRUST (TOWN ESTATE) Trusts88.' Role Appolntlng Body Rev C Hutton Mis Z Laige Mrs B Rush Mr P J Weeks Chair Incumbent Secretary pcc Church Warden PCC Treasurer NDBF ObjeL*s.' £1 pèr annum to Earsham Town Charty, residue for general Church purposes. Con8tilulion'. Ord&r Issued by the Charity Commission on the 411) June 1992 Solicil¢rs'. Mills and Reeve Redwell Street Norwich Norfolk Independent Ex8miTwr,' G Kerkham Lark1ng Gowen LLP Chartered Accountsnts Faitrrs Hous& Gilray Road Diss IP22 4VVR 8anker& Barclays Bank p Waveney Valley Branch Bungay Suffolk THE EARSHAM CHURCH TRUST (fowN ESTATE} FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 TRUSTEES. ANNUAL REPORT The main a55et of the Trust is the money raised by the sale of land In the centre of Earsham village for housing. The sale was proposed by the then Rector, John Walden, because the village school wa5 threatened with closure. It was intended that money could be used to improve the school, and the new houses would provide greater ptspll numbers. Improvements were rnade to the school usingTrust funds. but since then a new school has been built and the old school di5P05ed of. The Trust is now for the beneflt of the church in Earsham and, as it has a central role in the benefice, it provides benefits for the other parishes within the benefice. The sale of land raised E400.000 which was Invested In a number of Investment Funds.. one held in the name of the Trust and two held in the name of The Norwich Diocesan Board of Finan￿ Ltd. These funds generate quarterly income. From thls Income the objects of the charity are carried out. The Trust a150 own5 a 5ertion of marshland comprislng 3.88 a¢￿5 which is currently let to provide a Small amount of rental income. Objecti¥e5: The Trustees invite request5 for grants from Earsham PCC and allocate income accordlngly towards runnin8 costs and also to fund pastoral work. Reserves The Twstees, pollry on reserves Is to malntain a minimum of £IO,CN)O of free reserves. The Trust currently has free reserve5 amounting to £45.17012020.. E34,9571. These funds have accummulated over a period of time and will be used to meet the costs of forthcoming projects. The Trustees have had regard to the guldance Issued by the Charlty Commission on public benefit Approved by the Trustees and s￿ned on their behalf by: PJ Week5 Date: Independent Examinees Reportto th• Earsham Church Trust (Town Estate) I report to the trustees on my exa[nin81￿￿ of th& acc(xJnts of the Trust for the year ended 31 December 2021 which are set out on pages 310 6. Ro8ponslbllltlgs and basis of report As the ¢h8rily Irustses of the Trust you are responsible for the preparation of the a¢￿Vnts in accordance with the requirements of the Charities Ad 2011 1.the Act,). I report in respe£* of my examination d the Trust's accounts carried ijul under section 145 of the 2011 A¢t and in carrying out my examination I have followed all the applicable Drections given ty the Charity Commission under section 14515){bl of the Acl. Indepond•nt •xamln•¢s stat8m8nt I havè completed my examination. I cJ)nfirm that no material matters have come to rny atttrntion in connection with the examination gwing me cause lo beliov& that in any material respe¢t.' accounting re(x)ids were not kept in reS￿¢t of the Trust as required by se￿10n 130 of the Act; or (21 the accounts do not accord with those ￿CordS. I have no COn￿rnS and have wme across no other matters in connection with the examination to which attention should be drawn in this raport in order to enable a proper nderstanding of the accounts lo be ré8ched. G Kerkham FCA Larking Gow¢n LLP Charter•d A¢¢ountsnts Falers House Gilrny Road Diss. Norfolk IP22 4WR Dats: 24 April 2022 THE EARSHAM CHURCH TRUST ITOWN ESTATE) FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 GENERAL IUNRESTRICTEDI FUND RECEIPTS ANO PAYMENTS ACCOUNT 2021 2020 Notes Receipt$ from investments Bank interest DNidends 20 30.860 30,675 30.678 30.880 Other incoming rèsourcos Rent 95 190 Total receipts 30,773 31,070 Charitable actlvlties PCC running costs Drainage rates 20,OLX) 20.IJOO 20,008 20.(x)5 Governance costs Prole8$ional fees Trustee travel expenses 528 Totsl payments 20,536 20,509 Excess of receipts over payrnents Cash balances brought fon¥ard 10.237 35.485 10,561 24,924 Cash balances cathed forward 45,722 35,485 THE EARSHAM CHURCH TRUST (TOWN ESTATE) STATEMENT OF ASSET8 AND LIABILITIES AT 31 DECEMBER 2021 2021 2020 Notos ASSETS Inve8trnent8 Capital account Income account 1,177,592 14,337 1,058.119 15.358 Bank Balances Business Piemium a￿OUnt 45,722 35,485 45.722 35,485 1.237,651 1,108,9S2 LIABILMES Credttors {5521 15281 1,237.099 1.108,434 REPRESENTED BY Income Account 59,508 50,315 Copttal Account 1.177,591 1,058,119 1,237,099 1,108,434 Approved by the T ed on their behalf by.. Name.. Date: THE EARSHAM CHURCH TRUST ITOWN ESTATE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2021 2021 2020 Cost Value Cost Value 1, CAPITAL Investments held in the name of Norwich Diocesan Board of Finance Central Board of Finance of the Church Investment Fund.. 44,218 shares @ 2048.73p 227,192 1,035,455 227,192 905,888 Central Board of Finance of the Churth Flxed Interest Securities Fund.. 89,761.14 shares @ 169.62p 142,614 142,137 142.614 152,253 369,806 1,1Tt,592 369,806 1,058,119 The investments at 31 December 2021 are staled in the statement of a8se18 and liabiltiies at market value and are held in the name of'The Norwch Diocèsan Board of Finance.. 2021 2020 Cost Value Cost Value 2. INCOME Investments held In the name of The Earsham Church Trust. Central Board of Finance of the Church Fixed Interest Securities Fund.. 9,054.14 shares @ 169.62p 15,000 14.337 15.OOCI 15,358 The investments at 31 December 2021 a￿ stsled in the balance sheet at market value and are held In the name of The Earsttam Church Trust. 2021 2020 3. CAPITAL Opening balan Increase I Idecreasel in value of capital investment$ 1,058,119 119,472 994,645 63,474 1,177,591 1,056,119 THE EARSHAM CHURCH TRUST ITOWN ESTATE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2021 2021 2020 4. SNCOME ACCOUNT Openlng balance 50.315 39,254 Excess of receipts over p8ymenl$ Mov8mènt In accruals 10,237 {241 10,561 1241 60,528 49,791 IDecreasel I Increase in value of income inveslrnenls 11,0201 524 Closing balance 59,508 50.315 5. GRANTS Grants made to E8ish8m PCC h8vo baèn madtr out of incomè. 6. ACCRUALS The trust owed £552 in respect of the independent examination for the year ended 31 December 2021.