Registered Charity No. 212738 THE EARSHAM CHURCH TRUST (TOWN ESTATE) ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023
THE EARSHAM CHURCH TRUST (TOWN ESTATEI Trustees.. Rolg Appointing Body Rev C Hutton Mrs Z Sprake Mrs B Rush Mr P J Weeks A Somerfield Chair Incumbent Secretary. Church Warden Ex Officio Church Warden Ex Officio Twsurer NDBF pcc Objects.. To fvrther thg religious arKI other Tilable wort of ihe Church of England in the Ec¢ksiastical Parish of All Saints, Earsham. ConstitLrtion". Order issued by the Charity CommissKsn Ihe 4th June 1992 Solicf(ors'. MilL8 and Reeve Redwell Street Norwich Norfolk Independent Examiner. G Kerkham Larking Gowen LLP Chartered Accountants Faiers House Gilray Road Diss IP22 4WR Bankers.. Barclays Bank plc Waveney Valley Branch Bungay SLrffolk
THE EARSHAM CHURCH TRUST (fowN ESTATE) FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 TRUSTEES. ANNUAL REPORT The main asset 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 Rertor. John Walden. because the village school was threatened with closure. It was intended that money could be used to improve the school, and the new house5 would provide greater pupil numbers. Improvements were made to the school using Trust funds. but since then a new school ha5 been built and the old school disposed of. The Trust is now for the benefit 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 £400,000 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 Fin3nce Ltd. These fun(Is generate quarterly income. From this income the objects of the charity are carried out. The Trust also owns a section of marshland comprising 3.88 acres which is currently let to provide a small amount of rental income. Objectives: To further the religious and other charitable work of the Church of England in the Ecclesiastical Parish of All Saints. Earsham. The Trustees invite requests for Erants from Earsham PCC and allocate income accordingly towards running costs and also to fund pastoral work. Achlevements and performance: The charity made a grant of £20,OW to the EarshaTn Parochial Church Council in the year to support the church finances including the parish share. A further grant of £800 was made for the local primary schcrfjl to fund a visit to the theatre. Reserves: The Trustees. policy on reserve5 IS to maintain a minimum of £10,000 of free reserves. The Trust currently has free reserves amounting to £59.21712022= £55,1911. These funds have accumulated over a period of time and will be used to meet the costs of forthcoming projects which include the landscaping of the church meadow. The Trustees have had regard to the guidance issued by the Chartty Commission on public benefit. Approved by the Trustees and signed on their behalf by: PJ Weeks Date:
Independent Examine& Report to the EahaM Church Trust (Town Estate) I report lo the Injstees on my exaMInatK of the clnts of the Trust for the year ended 31 December 2023 whKh are sel out on pages 4 10 7. Responslbilitie$ and basis of report As the charity trustees of the Twst you are respx)nsible for the preparation of the accounts in accordance with the requirements of the Chant*s Act 2011 Ilhe Act.). I report in re$t of my examination cl Ihe Trust's actounts cained out under section 145 of the 2011 Act and in carrwng out my examInat)n I have folkw1 all the applKable DireclK)ns gThien by the Charity Commission under secti) 14515}Ib) of IheAd. Indepgndent examinerfs ststem¢nt I have ccAmpleled my examination. I confirm that Th) mateiial matters have come to my attention in CneCtion with the exanination giving me tuse to ttlieve th81 in any material respect.. accounting records were not kept in resFect of the Trust as rewired by Sectrt 130 of the Act,. or 121 the accounts do not accord wtih those records. I have no concems and have me across no other matters in connectK)n with the examination to which attenlion shoukl drawn in this rewt in order to enable a prOr understsnding of the accounts lo be hed. G Kerkham FCA Larklng Gowen LLP Chartered Accountants Faiers House Gilray Road Diss, Norfolk IP22 4WR Date: 221912024
THE EARSHAM CHURCH TRUST (TOWN ESTATE) FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 GENERAL (UNRESTRICTED) FUND RECEIPTS AND PAYMENTS ACCOUNT 2023 2022 Notes Recel Receipts from investments Bank interest Dmdends 470 30.404 31.065 .874 31.109 Other ineoming resources Rent 190 190 Total receipts 31.(b4 31,109 Pa Charitable 8Ctivit PCC running costs Drainage rates Landscaping Grant to Earsham School 20.O¢J) 13 5,491 20.0 590 26.304 20,599 Governance Costs Professional fees 582 552 Total payments 26.886 21,151 Excess of receipts over payments Cash balan$ brought forward 4,178 55.680 9.958 45,722 Cash balances carried foThvard 59.858 55,680
THE EARSHAII CHURCH TRUST (TOWN ESTATE} STATEMENT OF ASSETS AND UABILMES AT 31 DEcEIR 2023 2023 ASSETS Investm•r Cwrtal acwunt Incx¥ne account 1.128,445 13,1C6 1,036,627 12.413 Bank Balants Busine86 Premlum jnI 59.859 55,678 Ac£rued rme Rent 1,202,410 1,104,813 LL481LmE8 Cr•dltorn 16421 {582) 1.104.231 RepRESENTED BY InccAne Accounl 71323 67.807 Caphal Account 1.129.445 1.036,624 1104231 Approved by the Tru8te88 BIgn on thelr b8111 by. Name: 14 D•te:
THE EARSHAM CHURCH TRiIST ffOYIN ESTATE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31sr DECEMBER 2023 2023 2022 Value ¢t Valuo 1. CAPITAL Investments hekj in the name of NOlth Dirtesan Board of FInae Central Board of Finare ot thè Churth Investment Fund.. 44,216 shares @ 2,¢A6.14p 227.192 999.516 227.192 913.564 Central 8oar(l of FinaTr of the Churth Fixed Interest Se(AJrities Fund." 89,761.14 sha$ 137.1C 142,614 129.929 142,614 123,063 369.8l 1,129,445 369,806 1,036,627 The investmènts at 31 tknember 2023 are stated in the ststement of assets and liatilrfies at market value and are held in the name of The Nomch Dbocesan Board of Fltsrt.. 2023 2022 Cost Value Cost Val 2. INCOME Investments held in the name of The Earsham Churth Trust. Central Board of Finance of thè Churth Fixed Interest Securities Fund.. 9.054.14 shares @ 137.10p 15.000 13,1C6 15.000 12,413 The investments at 31 Decernlr 2023 a Stat in the balance sheet at market value and are held in the name of The Earsham Church Trust. 2023 2022 3. CAPITAL Opening balance Increase l {de¢reasel in value of capital invesb)ients 1.036.624 92.821 1.177,591 1140,967) 1.129.445 1.036,624
THE EARSHAM CHURCH TRUST (TOWN ESTATE) NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2023 2023 2022 4. INCOME AccouTrir Opening balance 67,607 59,508 Excess of receipts over payments Movement in accruals Movement in accrued income 4,178 (60) {951 9,958 130} 95 71,630 69,531 {Decreasel I Increase in value of inwne investsments 693 11.9241 Closing balance 72,323 67,607 5. GRANTS Grants made to Earsham PCC have been made (Mjt of income. 6. ACCRUED INCOME The trust is ov4ed £Nil in respect of rent whKh had ncrt been rece1 at 31 December 202312022: £1. 7. ACCRUALS The trust (Iwed £642 in respect of the irbdepernlenl examinatK)n fortheyear end 31 December 2023 12022.. £5821.