ANIIIIAL REPORfAND FIIIAIICIAL STATEMEMTS FOR THE YEAR ENDED 31 DECEMBER 2024 ,.1) lshfwil '.r4rnif.li?'4 'J'.-¢ ) iy4iril..6H Ae,P. ) 11? fi-IYll&l?14 .6
RICHMOND CHURCH CHARrrY EsfATES Annual Report io 12 Irncd thurth tharfts Estate knwjal RerKt 2024
RICHMOND CHURCH CHARITY EsfATES ANNUAL REpoirr amrftable The prfncipal Obit cé the Charty is to ary wrtxes Lrf Pdrfish Churth1St Mary Mag&31enel including repalrs ts, Imwovements rf, or to lthe aThJ it5 wec6ncts, the malntenarte of the Servi thein or thereth. l) Make the folkwlng llx&l anrty kn tLtsI to £12IKI: Rlchmond Church £7 The Vkarage of the Parith Chuth of RkhnKf#J £1 st lJhn the Dne Chuwth. R•thI)d St Mathias thurch. Rkthmoryl Hoty Trknlty Church, RithrTthJ Any funds avallat4e dISirfrtl0n are to be apF4A tcwds re1 cfy)n&ted wrth the Pash ¢JwJTth cl RthmoThJ, or the bultdir•J of a fuThJ fcf extr&thry rwalrs to the same, cr wry seT)us emwgerLy affecting the other thurthes named 7bM. £1 2) Wre ?nUal ful tr a¢ d tt CTrwlty. Fc4kAthg a Pastrwal Re(an&th In 1995. ftkl¥TKThI (St Magjaene) (ned wlh St hn the Divlne and St Math"as to fom Rthond Team Mlnw. TeBm Is y1 In thls Rep)rt b) deTre Rkhmornl ptsh a)uKh excerk wlxre ¢)thuwb5e stated. The IarIty was eststl1Bj by kt 1828 altMx Its we ltsJ ts (l to a grnrt of lJ)d m&Je by Merton In 1375. Tial R•tyrn Apwo•th , apwoath, ena1rj the Tnjstees of ttE Chth to de(th wlhth part (rf%ry) rf the unarpl1 totsl rthrn fmm the a55ets of the Charity shall be disiributed. The effert (the (hder 15 that TnJ5tee5 dlThticffj to distribute any ount up to ts total Val of the mapp rebjm In fvrthu (hrlty, or to retsin the of the unled rettwn (1.. to me The TYustee5 have etTrIned tlhx In the exerclse ofthls tr to te to mabtsln the The Tnthes the dLstrlxJtth rate cm a trknnlal In 2024 • Irfftase in the rote to 2.75% from 2.5%, uslThJ the of the Ir1r awaje totsl fuThls of the O)arfty kn the audlted fina[al 5taternts in three wKedirrfJ I. was ar¢v4. The rth rnte Is aw4K314e fty dtstsitth'ons in each of the three fin(la1 ythrs fnyn 31 Dec 2024. Publk b¥fft Consid that the Charws siatul obi&tives test oftervJ forthe put4ic Nrtt of the Trustees recefft any prNote benefit frrmn acbvit5 rfthe ty. thnTh)nd Qwr(h Chaiities Rewt 2024
RICHMOND QIURCH CHARrrY EsfATES ANNUAL REPORT It isa pkagjreto retth agan thatthe Rkthnx)N1 thurth Cfvirty Ests 1a5tyddive on rts keyoWli¥E ofprowthng fijnding for the fabn"c and repairt Rithnb)nd Pdrish [Ch. The tot grant for 2024 was £ 465.200. an increase over the prewious year trfjthr with the first trarKhe of £500,(} b) 9JlVYt the Parsh R(KKns We were also pleased to grant £20.404 to Holy Trinty, RKhrThJThl for enwKy trAJthliry in wilh our dritate ObjVeS. We sold c of r resldethl wcwues, 44 St Marfs for £1,075,LKKJ xI £875,(m af that has teen reinvethj in our Our totsl Income rose to £465.gJ3 and eXFthJ fell b to £96,316 as r5 Ffoperty portfolio reduced. in the wemous year, a fall in woperty Ire was offset tya rése In InNslrn• I(ne and interest recelvable due to higher dep)yt rntes. Iorne frw inthts r¢6e by so¥ne Il%, party refitirj the all(0 funds wha5 prc¢vty IrKonx fdl ty a simitsr arThJrt refttij the sale ce wom. Beraw { our &JopYcffi of a Totsl RettHft woach to di5irlt&rtK, a atle to pay OLrt fmm wiial rf fwr ¢(knt4wJ irKome is jffident Jr ¢lthuthJft tsrget t 2.7S% of tctsl capknl, a ralsed fn)m the 15%. ExdudlrKJ signiknrt cash re5ens, that captsl is Sk betwn 65% investn, held In a variety of Investment fvTrJs and 35% reIntral Fcyrty. reser Ikwre Temalns hNJh pendir¥J further dlstrllyJtiMs. As we have stated before, 6t Is our intwi¢lM to sem dcwn the aThl In Investmwt furbts. We a fiexiUe In wTrJit rrf I ternis crf asset allLKatlon In ter7 of fu manaps. We are rthfy so derend• orb the urJeTperfoming UK stctk market as rnany Charit5. vlth thy 20% In UK equlfjes compJ to 50% in overseas equides, the rest in bonds, kYOFeTty and af(ematrves. Trustees have mJe the d&i5m to the bS of managln9 gdng fOard by apwintiNJ ¢>re th5uet)w markw to tske ¢)vtr the manag&t of our assets folb)wlr¥J our e¥tyng Inthert glnes. Thb5 S¥jIj a nwre SLsWnatle Iwtem stthvartshlp than cwr cuYw prxyce of selthg fun(ts Ou. A LW wlill take F4xe Mwth 2025 be•thThJ to apwnts The govemtdKe of tharths cfjrtjn to be uThler STh $¢nrry, I SUM bdth we Temaln In a thls respect. Good governare r4uires gocxl tsustees. l am delbht8J that Amanda PAlams JOI as a trustee last year as we say farewell to Chars Sdlkn wm) has stct41 as a trustee. As e¥v, we cryrtlnue tt) t well seryed ty oui Oer Tony Cmby 15 dllwt kn hLs stewardshlp Lrf wr N¥tftlb. I we lo the fUttl wtth g)me Net expendtture for the year was £778.99912023- £358,558 rt IrKml. Tre Is rewlt of aldlonal gwants Total Irtome for the year ofE465.S03 was totr IrKmse In distsilyJih)r6 on final assets IrK7&% wJ hddirrfjs folknysThJ sale of a from 1rNeSt fuTrJs njse ty IOfft• to £294A64 (2023: £266.203) ahlthns to fv1 trddln9s folkyiNJ the sale of a proFety in 2024. Investmnts wRh a value greater 5% (rf the kYMtft4k) at 31 tcember 2024 were.. COIF Charlues Global Equty FuThJ JP Morgan Emerging Markets Ftmd M&G CharfboThl M&G Char6fuThl Neyrton Growth and IKome jnd for Charils
RICHMOND CHURCH CHARrrY EsfATES ANNUAL REPORT Prerty incon for the of £114,266 (2023.. E129,518) vos 11.8% due to the full Impxt of Income ffftgone on the proFerty sold in ANII 2024. Net UnliSed h)sses on imstnvts Mve £159.582 (2023 . £487,694 ureall5l WTr). The 1n5 on the Investywt NtfOl of £333,9L8 (2023 . E5II,694) •eaSl Inbstor cCfflfiden folknr eleth.cms in the USA and expectaOon5 that interest rates wll fall in 2025. Thts was Offr ty the vnwlls&l bss on the property Pcrftfdk) of É493,500 (2023 . £24,000). It is the result of an external vdualjon Cd cArt at y eThJ in xc1ydare with the stataj valuthn [¢cY of the Cash deposlls hekl In a mw market fund Int8est Inme of £,373 (2023.. £5B.5291, was 3.7% kMEr th to the panent of addltyonal gts of £520,404 bvhth had the effeLt of redtKirwJ the average fuTrJs hdd on dekTh)sIL In addltycffi, lrterest ratss 5t¥ted to fall in Q4 2024 whh afvee Grants made of É985,&)4 Include addrtiond grants of £520,404 comwgru £5Q),Crf)O to the PCC of Rithmnd teitYJ the flrst trand)e of the grant for the redeVet of the tsish RC08 £20,404 barrfj a grant for ergerry tyJik4lrrfJ works to Hoty Trfnlty, &xdudirKJ anwts, th2 regr grts gi were {465.2 {2023.. £459,2}, Incmse ol 1,3%. FUTURE PLANS The Trust alrn to malntsln the tsbrk cf the kNeS1 try Carj tyjt progrnmnRd nte and olh repalrs as requbred unbl vh)ole PTopertles tecome vXantV+t be s(thl, and the prThls Invested Snto Investment fvnd5. IUSK MANAGEMENT likelihc)J and impact of thc6e rth ng reali5ed, tr•Jethw the Mea9J5 In pke to manage M"gate SLth rlsks on an annual basis. The results e recorded Rtsk Regster. The rlsks the hhest e$SeTht (c51ng both Impatt and IlkellW} a bekw. tcwher v411h mWNs'. Loss of key staff Theauk to the Truees Is the onty em[. A p¥Jure5 manual h45 been red. The aerk meetsUlarILW[th lfft Chalm)an. The Charity ts In%ed In a di$111ed wjtfolb) of flnaTKLIl fijnds and reshjenlial irNestrent prrwtles In Rthmond. The Cty has an lThvestment Polky whth Is re11thj annual. The F0 is against the aThJ is rebalan0 l . The Owrlty hc4ds cash 8]ufvalent to annual fft awaTdgJ and slx )nths of ots exkwmlthre to JId reakgng assets dung a [erIj of $4Kkn Nne In finanaal mark¢ts. funds are incre generating and ' kl c the reVRd the Twstees annuall . The re5thibal investment wowtie5 are as Assur&J knrtd TenaleS or as Regulat8J tarKles. Management of the proFertits Is dele to a kyopaty management w> a reswrsllAe for tenar chan are made. The reSIal inVeStt Wcwt5 are subject to r8Jular inspecbcms In accorda wfth rwJul*(ry requirements. Management of ts proFertbes Is delejated to a proFaty Managnlt PanY who ae reSlts1e for Investmtht rfsk Suffldart cash to make grarrts Change5 to proraty terbant Ihts ChaThJes to landlord requTnts for prop
RICHMOND CHURCH CHARrfY ESTATES ANNUAL REPORT The R¢chmwKI Chaity Eslates s a regi5tued ct {Tr&) 2127n)). Tr plncipal g)vwnlrg are an PLt of Patlment of 1828. lrtS onty rf th ap¥ty, a trne dtsj 27 May 2CA)4. The Trk&ees have respjnslblty for al asperts rf the OriVs thternunlng the strategy and Chawman can serve an athJWknnal yews the of his cff her the seCrd term. Trustees wtll ualty tre indNhluats with So In¥(l¥w wlth c17e d tr l¢tS PCC fA aThJ have rdevant skjils a1 eXpern. Recrurtnnt is ty invitati. The fdl)wing Trustets Y•we In pjst for the pthl l 2024 to the dale of ala1 c these flnarK?al statements: A G Saundets- ltsmwi Mrs A Adams (from 17 W'l 2024) Smern Mrs A M Khan Ms R A Martin J C st51r (to S Iwll 2024) M•nagoment The day.tTrday operkn aNI Ar4strntkn cl tre {ty ts tyjt brf a salknj aerk to Tntstees. The aerk The Trustees are re¥tle for sethng the remu dthe aerk to Ihe Tn&ee& The aerk L4 not a manter of the proceets In Invesiment ftmd& The awity r)t <e(fjy In stcth arbj thares but thrwgh a dtverslfled wJrtfdk of knvtstment funds mana3ed by several differert irNestrnert rNirwJers. The of the investMl pJrtfolK• is It Is the Charitys to nwntsin a cash balare 8]u1valw to at t st< n¥Jrrths rest expwthre IILK11rg any dlstrltrxrtions due to the tentharls The wa5 Rlthrncd cr(th Charldes Est* knThJal Rq)yt 2024
IUCHMOND CHURCH CHARrrY ESTATES ANNUAL REPORT TRusfEES A G Saunders- Chairn Mis A Adams S M Blown Nrs A M Khan Ms R A Martin CLERK TO THE TRiISTEES A E Demby PRINCIPAL ADDRESS 59 Church Ro Richmond Sutrey TWIO 6LX REfjisfERED CNARrrY NUMBER 212770 AUDThORS Kreston Reeves LLP 2rrfJ Floor, 168 knredltth HvJh Street Lon¢kn EI 611A soucrroRS Moore Barlow LLP Frameworks 2 Sheen Road RSthmond Surrey Th19 IAW 8ANKERS Lloyds Bank pk 19-20 The Quajrant Richmond Surrey IW9 IBP PROPERTY MANAGERS HML LAM Ltd 11 The (sdrart Rlchmond Surrey TW9 IBP AF4)ro¥ed by ordw of the PJaYd of Tntstees on l May 2025 aNI >Jned its Lhlf ty: A G Saunders.
RICHMOND CHURCH CHARrrY EsfATES TRusfEES' RESPONSIBILrrY srATEMENT FOR THE YEAR ENDED 31 DECEMBER 2024 The Triisrees a for weparing the RerKrt of the Tnjstees the firtlI Ststa? in accordan wth apkgiraiAe law and Unite(l Kiwn NLrLNJntxKJ StsThJards (Unit8J Kfinfvn fA)eraly knqed AccountirKJ Pcte) induding FinJwKial ReF¥xb'ng StaK1wd 102 Tr RqJtirYJ 5kndMd awbcable In UK and RewbkcoflrdaThl' The law applble to chariU85 in EThJland W5. the Clkirit5 P£t 2011. Chffj Ikcojnts and Re5) ReJulaS 2rM)8 aThJ the of the lJtst t1eed rLyi15 the trL&ees to wepare finar1 thtewnts for eath flnandal year which gfve a true arKI tsr vmy of the statÈ of affairs of the tharity of tr incoming reJ and applicauon of reswrces, iludI1¥4 the aThl exlMIure, ( the cthty frr that K1. In epar¥4 financial Statem the trustees are required to otserve t methcNJs and pn"nclkts SORP,, . rnake d9nts aTrJ esb"mate5 that are reascfflat4e and p¥utht' . state ether aFylkalle accwntlNJ have tttn frAknve4 to mthal thp3thre5 arnl eXp1j in the finatKaal statawts: . prepare the fina1 statwnats tr gtJwwJ ba515 lesS It15 Irkiptywk* to lthe charfty wlll c"nUe in bwlntr& The tsYstee5 are reskkJNble kee&NThJ proper Ini11¥J ddI wtth reasonable acoJraq at.any tlrne the financial posltlon d the charity and to eTh3bSe tkni to eru that the fitwda statements comply wlth the Charities Art 2011, the Charity {Accwrts and RekX)rtsl ula5 2rTh and of the trLLSt deed. They are al d&ectlon of fraud aThJ othw regUl110es.
IUCHMOND CHURCH CHARtrY EsfATES REPORT OF THE INDEPENDEpif AUDrroRS TO THE TRUStEES OF RICHMOND CHURCH CHARrrY EsfATES OplTrlon 31 tkcemtrr 2024 ¥¥hich comw the stth of fin)dèl t5, the Balrte Shrt the Cash Flry4V Statement and notes to the fin3n(ial statements, including a rnMary cIsvlfiCant Thefinana rwbng fr&¥Ork that has been in their prepaiation aptArAible LwAf and Urited SIdards (Untsy rJ60M rrallY Attept&J Accr#JntlrKJ Pr&XKe), FM•xial RewMtiThJ garthd 102 Tr FITr31 RekYMtr¥J Standard aFfJlkable In the UK and Rewt4K ( antt. In our owicn the flrkindd StateThts: glve a true aThJ fair vw4 of the stste Of dwrtvs 8T5 as * 31 2024 and of Its ItK(xnlng regjjrw and appllrntion of resources, for then Kl. . have been prwty wepared In accorilm wth Untsj Kln9kn kce&I Acowntlng PractKe, ndj[tj Flnanthal ReporUr¥J St•)dard 102 Tr Fin0jaI Rep)rtI StJ¥J¥d 4kw1cab in the UK arKI Rwitllc of Ire1 and have been prepared in cordan w41th the rV]remts of the Act 2011. We conducteil our audit In accordanee wlth Intemati1 5tsrn1•ts on AJJJitlrg (UK} {I&As (UK)) and aFty1Cab law. l)Jr TeswnsltrAlides under tlw are furtPw dtsoitej In the reswjrslylibes fDr the audit of the financial statements sectkn of our reF#NL We are InthFthJent rA the duity in ax(Ydance w1th the ethkal reqrements that are relevant to our audit of the staternts In the UL Indj ts FRCS EthKal &andanl. aThJ we have fvffi11gY our other ethkal re5p)nSI11fyS In wlth these rewSrements. We t1¥3t the •kknce we have Lthlned ConduJlon• velatlty to goITrJ In auditing the finand state1T we hm ¢ILKIed IJt Tr the gJin9 Cor ba d tntIng In the yeF0rakn dthe tlnandal SlateM Is tha¥ IThJIdaIfy or cdlectrtyi WOY Cast sKJnifwt dwt cffj the tharws ats.lty to CcrtIn as a going concern for a secthns of this repo Annual RepJ¢ other than the finaal siètewnts Rewt rfthe lrrf14Th thereon. In conneLknn with our a1t of the fin& statem. ow bs to rd the rthEr inforn aThJ. in doing so, cor6ider W1[her the other Inforrnatirm is materlalty irKOr6i5t wlth the financial staternts or r knowl&ge obtsined in the audit or cthenyise appears to misstataj. If Id sh materi Im)sistetKaes or apparent materlal misst&emwts, we are Ulled to detwnine there is a matsrial msstaiement in the finandal statements or a matenal MStatnent of the other infc#Tnan. If. cffi W hwe wfwmed, we condude that tsre 15 a motthal mts51 of this otr*r mf01 w to rerANt Ihat f&L We have nothing to report In thls regard. Matt•rg on whlth w• arn rnqulved to rtport by •xcesth1 We have tTrthirrfJ to rewt In respect 0fts matters where the (h¥tks PLt 2011 rwires to rq•xt to if. In wr OnI)n.. or SYff1at accounting records have not kqt" IJT Richrnond thurch chae$ Esiate RqYJt 2024
IUCHMOND CHURCII CHARrrY EsfATES REPORT OF THE INDEPENDENT AUDfTORS TO ThE TRUSTEES OF RICHMOND CHURCH CHARrrY ESTATES As eXained mre fulty in the Trus lju are resp)ne fr)r the pwarthn of the financi Stste[ a true * faw vi. a1 for s irtsnal c(thl as trtee5 d&ernils i% nKessary to enatrAe weparnkn rf finarKial Staterts that a free frcrfn mLSg2ta whether due to fvaud or error. In weparing the fin(la1 st&eftwts, the I) e resp)n9"ble for asw tt drty5 ats.lity lo contsnue as a wlng Cccem, dLscbsThJ, as aptrAe. matters rel&ed to gL4ng c¢mcem u4r4the gjlng Conc basls of accountiThJ unless We h4ve aFp)lrted as ajdttor urmjer sth 144 ofthe Chwlues N£t 2011 aThl K¥t In the Art and rekvarrt regulab(Th or eIrt tlwrwjtr. mIS&ent, whether due to fraud or eTrcff, and to isgje a ReFQrt of the IndepentAIItoIs that Irmjudes our ov"n. Reasonable aS9jrare is a high of is rKta th an au(It condLthJ In accordan ISAS (UK) wlll ahyay5 detect a materkil msstatement It exists. Mis&wIts se from frafj or error and are consldered matell if, indiwdually OT in the wjregatr, coubj r&150natty be extthl to Influere econom ¢)f usets taken (ffi the basis of these finarKial statww IrregUribes, SnckJthn9 fraLI, are rrstm cl rnTrc(xYWiarKe vthh IM and tn$. We ureS In Ilne wlth our res&m)li¥lltie5, Cth11 atove. to detsrt materi mrsststements in rts(rt of irregutsrfU Indudlng fraud. The The obJectNes crf our audit are to thntyfy and assss tre rtsls of matw flnarb)al staternts due fraud or wror,. to oixaln gjfflcknt aFvc¥xlate regwdtsYJ the assesJ vlsks of mat&kl rnwatement due to fraj or wrnv.. and to reskwKI appywatrly to ilThe rtsks. Based on our urbJerstsrKJlThJ oftr chlty * Irom, w41th the Trwtees aNI obr management las requlred by audlb'rKJ stsnd¥ds), kJenVfi&J that the pal rbsks of n<0MlIan with laws and Tegulatr" rd&ed to heath and safety, antikn.tay and law. We ldj the extent to wNth rx)n<ompliance mlght a matwkl efferton the flnanclal statanents. WeaLso ccffisbjered Liws arnl ulatfts that have a direct impatt on weparatbn of the fiN4naal steftws such as the (be5 SORP (FRS 1021 Second Ethtion {rdeased Ortotw 20191, aTh1 other Teknnt (Jwrlty We cunmuntatej JerthtsJ laws and rÉguL4tron5 throUghrt our team and remained 3rt to any iThJkations Trjn-coMF4o througtrlxrt the autht. We evaluthl Trustees. a)d Manemen¥5 InnIVeS and opp)rtunéties for ManwIa of the flnandal st*ements {Indj1j risk of override of ccl5) aThJ detemilned that the n0[ risks refated to bias in xC(nting est"mate5 and jLfvdgementsl regLdatsons [ldIrj aTrJ safdy) aThl fraLwJ,' . .and Valuati( are owstatsd: aThl PerformiroJ analyb.ol pr&Jure5 to Njenbfy unusual or rShIpS, IIng relatej pty transact1, that may h1kate risks of ffjisstatw due to fraÈKI,'
RIQIMOND CIIURCH CHARrrY EsfATES J'rr?U4F.'o H)Jll ' Inv,'")y REPORT OF THE INDEPENDEKf AUDITORS TO ThE TRiISTEES OF RICHMOND CHURCH CHARTfY EsfATES Matal Mlate In fi[1 slatalts rnn-C(lnl wrth regulabon. Thbs risk inCSe5 the [re that C(mpliae with a law or reguLon 15 re)YJ from the tr•(1)r6 in the finanaal ¥2tements. as we wll be bes5 likely to become aware of instaeS cl non-c{[lr . atwj assessthe risks of material m15st&eTh the fir¥91 whethw t0fra or error, desvjn and perform ajIt wLKeduTes reskM)nth to th)5e rtsks, and c4Xain alIt that Ls gjfflclent and apwwate to provlde a basLs for our ownbn. . Obtsln an 0flntema1c(tr In wlertodesJn alit pY0wresthrea[WprIate control. . Evaluate the approwlateness of aCctrJI1j 1leS and rf xrouitry &mate5 reLited dls¢losures made ty the Trustees. . thKlude on the appKoprktenes5 ofthe Trwt Ltse ofthe golng ccdw) basis of(F¥j aThJ. basej on the a¢yJlt evfjden obtslned, whether a matert uncertslnty e¥lsts relknj tr) ets c coTrJrth)ns that may cast nlncant thxsbt orb the mesalty to cOnUnaSa c£rfKem. tfwe Cothat? material u9alntyex15ts, a requir&1 to draw atttic in our a15 rwt to ts reed ¢th¥res in the fffldal siaterne c, dLsdc6ures a Inadequate, to Mlfy our oplthi. (Jr ccffjdu5b3n5 we based M tre Jud oLtalned up to the date of our audit(¢s x)rt. However, future cff condkn5 may ouse s(tsne to cease to CfM)tJnue as a wlThJ CoeM. whether the financlal stments reVet the U1 tsar& thtnts in a manw that achieve5 faSr We ccvnmuntate wlth those wfth regaTdiTrJ, amwj Lts the pknn&J so¥e tsmlThJ of the audr( and Sncant audlt flThJlngsi InCjd6n9 any 5vwfftant in internal c(th that we ldents.fy durfng cr a41 of our report This reFNt rs made >JW to the truslees. as a t, In KrLYdm SectJri 144 (Jwrities kt 2011 and regukkn made uThJer Secycffi 154 of that has be x) that we mhjht stste to the puw. To the fulkst extent wmtted by law. we thj nrt &ceptor SUMe resp)r&"tx"lty to any other than thE tharfty and the charty's trustees as a for (w bvorK for thls rep)IL OF4nths we have f0mJ. IrtsL•) LLP Kre5ton Reeves LLP EllgUe to xt as In twThs rf Sth 1212 of the C(¥nw P£t 2Tr 2nd Flcor 168 Sho Higth Street Lond EI 6RA 6 May 2025 Rithmond Urth (JaritEs knrwl ReFK*t 2024
RICHMOND QIURCH CHARrrY EsfATES srATEMEiif OF FINANCIAL AcnvrrIES .. FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 Totsl fvnds fvnd furts INCOME AND ENDOWMEKTS FR014 465.503 465,503 EXPEIIDrnIRI 014 Raisin9 funds 83.029 83,029 112,120 Dlstr6buUorts tts Rklth Team DistrlbuUon5 to Trlnlty, RkhmoTrl xed annual apkyokvlatkns 458.( 20,404 I.2) 16,287 1,21)0 12,066 16,287 J,316 1,084,920 583,386 333.918 1493,5(YJ) 333.918 (493.5} 511.694 (24,(K)O) NEf (EXPENDfTURE)IINCOME {985,E4N) 206,605 (778,999) 358,558 (778.999) 1778,999) 358,5S8 RECONCIUATION OF FUNDS 18,456,276 18.4%.276 18,097,918 TOTAL FUNDS CARRIED FORWARD 17 677 277 17 677 277 18 456 276 All acbmlies frcrfn c(xlrwlrrfJ ts. -iO-
RICHMOND CHURCH CHARrfY EsfATES BALANCE SHEEr 31 DECEMBER 2024 2024 .' Totsl fvrthts 2023 fund funts Invegtments io li lo68.936 IOW,936 9,&50,018 16,n&436 1fy728,436 17,LW,018 CURRENT ASSETS 12 4.693 53,789 Cash at bank 957 1.376.958 CREDrroRS , AwK)unts fallln9 due wthln ce (13,248) (13,248) (8.700) 17.677277 17,677,277 18,456,276 NEf ASSETS 17 677 277 17 677 277 18 456 276 14 Unapplbed Totsl Rdum OrJinal Gwt 11,397,186 12.176,18S 6 280 091 17 677 277 18 456 276 18 456 276 The flnandal siements appwj P¢ard clTnees cn l Moy 2025 were shjned on Is belF by: AGSau Irman RKhmond Owrth (Ywlues Est Awl RqKrt 2024 .11.
RICHMOND CHURCH CHARrrY EsfATES r- NOTES TO THE FIPIANCIAL sfATEMEKrs FOR THE YEAR ENDED 31 DECEMBER 2024 GENERAL INFORMATION The fv%grKial ststanents have tttn pwar8J in Kcordm the Flnancial RepKlrtlj StsTrJard applicatle In the UK and Reputlic of Irelayj (FRS 102). The Chrlty 15 a tenefft enuty wrr¥ws of FRS 102. The (harity also prepares rts filWal Stalen in 7Mth tt knKV)ting and Rqx)rts'ng by chare$.. statemert of Recc¥nmend&J Practio apFIK3tr4e to tlieS prepariTr4 Kcounts kn KoirdarKe with the Fbnandal Rep)rt5ThJ Stsndard akatIe In the UK and Rewtlk Ireknj. The financkil g2temeN5 are pYepar8J cffl a concem basls, th a59jlr that the wlll ccffltinue as a goi¥vJ Ix)rKEm for foreswtrAe fLrture. The Tru a)rsMkr&l ChariW5 fraSts a1 promtions a period of 12 nw)nths from the ap(thal of the finarnal stemats aThJ have condutsj there is a reasonat4e extIOn thaithe Charlty has a1o]uate trj conu1e in OFwational eXIst for the foreseeable fubjre. ulumate Is kwobable the •YthJnt to L recwlsoj be qL4inUned rea9xalAe a¢. Interest on hehl on dert 15 th1 recdvth tre arrurt can be meawr&J lI)b ty the Charlty. Ihls Is rrnlty LP)n of the lrterest pald or payable ty the bank Dmdwth ¥e rectsjnlsed exp¢ndltyre uatrles ao rec(3nis&1 asexrmjthre as a5 there 15 a 1 or 0)nstr obilgakn commlttirwj the Charfty tothat eyndth. +5 wctht4ethat a tranthr decor tWtI uIr# In theanw)unt the oblytth be nwsuTed lb. ExpuK1iiurt 15 Statej of irrKoverat4e VAT and 15 COunted Cc6ts of 9eneratiNJ irude cost inirrejj in &Jn¥niat•Jn of the rertsl properues and collecuon of ntsl iFKome chanJed by the agernent ojnpany. A (se*ryty pct ofthe d¥k¥ fees fr)rb'me spent cffl aJminIstrat alkd. &)venkie ccsts iTvththose incurrgj N) theg)wrortsofthe WKI it5a55ets and arpwmarily associat8J ¥th cornstitu1 and statsjtory rejuiremertk TW akn Fercent dlarge for the.derk's fets the Chttlty. Invesbment wop£trs a mea9d i)itiaty After inttial rOgni0n, lnve5tsnt tKOkvties are at thelrfairvalL. Fair value is bos8J on marketvaR. Extwna valS are obtainej ewy
RICHMOND CHURCH CHARrrY EsfATES NOTES TO ThE F114ANCIAL STATEME15 FOR THE YEAR ENDED 31 DECEMBER 2024 Investments are a form of ba flnaKI insirumerrt ar1 are r•xrfJnLsed at their tranSl)n value aThl subwuentty nasur& atthw'rfalr value as at the balat tht date the market Gains and losses arising on revaluats" and aFe taken to of Fnanrial kkntits. Fund aco)untl Enthwmert are UKe hekl aThl thIneI ty the 11 fty the Lefft of the th¥lty. The Enth)Wrrt fijnds are dlvkd the VBlue grft and ££¢ beifwj the unaFWieil trtal rettrn. The value of the cffiglnal gft must be maintaln&1,. however, exh year the Wdlue the trAal rtum to te is the Tntstees. The irKom reltrmrt tr) fuTrJ to fu1 as re(wlrgJ by the SORP and the amr4Jrt of tre exdat endoww)t apF4d thJrfThJ the yw Is [eSttal as a trarsfv tetween fvrn1s L the fa of the Statnt of Ananoal Actfviuts in the te5 to the 0)unts. IUDGEMEMTS ANO KEY SOURCES OV WIMATX014 VIKERTAINTY In opr4Icatyc of the tha$ KCourj w4kles. tsTNstees are rèxlred b) make hJwents, estlmates arkl assumptims atrrfjut the affunt rf assets aThJ liath$ that are rKJl reajity ar4Jarent frun other sources. The estlmate5 assumptths are basaj on hlstoncal eXpw1ee aTrl Lts tdctcrfs that ¥e cThWdered to be relevant. Actual resuts mty dlffw from these estlms. a recc¥Jnised in the in estimate is rewtsaJ Vlthere the mtsK)n affts that pertt, or In the Crltlcal Judgements calculed to rn1 woFety value kndke5. a5 the b ts faw value of Its inbstment prore In rte 11. INVEsfMENT INCOME 2024 2023 114.266 294,864 129,518 266,203 DMderKts rffefvat4e -1>
RICHMOND CHURCH CHARrrY EsfATES NOTES TO THE FINANCIAL sfATEMEiirs FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 16228 9.766 3.528 8,345 486 14,616 10,425 2,520 7,856 4,803 977 aerks, feos Fyoperty iTsurae LIa.Ity ingjrance ttopeity Sa ma repair5 15,354 24 2024 2023 Gfant to RthncA)d Team Mtnisty Grant to Hdy Trirty, RkhmcKI Rxed annual grBnts 458,000 20,404 985.601 13.287 459,200 12,066 SUPPORT COSTS 2024 2023 dknrfs (knKkkliThJ VAT) Clerks, fees Foperty valuatKffl fee 9,241 3,576 470
RICHMOND CHURCH (>IARITY EsfATES MOTES TO THE FINANCIAL STATEMEpirs FOR THE YEAR EMDED 31 DECEMBER 2024 AUDITORS. REMU14ERATTON 2024 2023 Ext1 audit fee (rt(IVAT) TRiisfEES REMUNERATION AND OEIIEFIrs No Trustee any rWNjnwn fty svvice5 as a Tntstee fty tr (2023: Enll). ) TnL8teÈ Ere 1 IN the {2023: £nll). io. Ust& MARKEfvALiIE At l January 2024 Fljrchases aluatkin 9,660,018 875,000 333 918 At 31 DKenY 2024 10 868 936 NET BOOK VALUt At 31 Dtternter 2024 10 868 936 At 311)&embw 2023 a ststEd at the bld -1
RICHMOND CHURCH CHARrrY ESTATES NOTES TO THE FINANCIAL STATEMErirs FOR ThE YEAR ENDED 31 DECEMBER 2024 ii. FAIRVALUE At l January 2024 tY5rK)5al 7,428,000 (1,075,000) At 31 D8cents 2024 5 859 500 NET BOOK VALUE At 31 [nter 2024 5 859 500 At 31 Cwter 2023 The Kyopubes are SIn at thelr matrtv&l. ¥KI subi&t to tenandes appats. The valuatic 0Scy is fv investmem w0p•t trj be vakl ty a 9Jr¥ey five years. tnterventng valuattons a caloJLited ty rderwKe to rwised &Yyty lThkns. Tr n>Jst recalt extanal valuath)n was at 31 Decembtr 2024 by SRVO Fyopty Umlted, a Regi#tr&l VJW. The Chartty owrs a Interest hi ¢xoJpled by the Church Estate Alrykn. Sheen Ro&J, Rlchmnd owned by The RJthncfiJ arIts. If of tt* ahn4YAtses cease to be u59J pernwnentsy as gjth. half the Wdlue of the lexdL#thng ts vlue added iry tro kyese d the a1rnsfvjj trn payable to the Charity, unkn land b g)kl Jkl wcKeeds d Sa are usal to punthase Weeme land for the pmvLsk cl a5m5h%w vlthln a retsjnth t5m2. 11 DEBTORS: AMoiIKfs FALUNG DUE wmiiN ONE YEAR 2024 2023 FuThts hdd try lI1rj wls Rentsl and maintenaw dettots 1,0 976 976 13. 2024 2023
IUCHMOND CHURCH CHARrrY ESTATES NOTES TO THE FINA14CIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 I& PRIOR YEAR ATEmENT OF FIIIAIICIAL ACnVITY fiJTrJs 2023 IMCOMt FROM tnvestmert Irome Yotsl 454.250 454,250 EXPENDrruRE (114 RAislng fvJ5 111120 112,120 Chrlt•ble acilvlt Dlstrlbutths to RlchmoThJ Te•n MlThstry xed annual apwopril Other costs 458.W 458,(K)O 1,2C#) 12,OE6 12,C66 Tolal Net galns on Invesfftnts 459.2LKI 124.186 511.694 124,OCK)) $83,366 511,694 {24,CKQI NEf IPKOMEI{EXPENDrnIRE) (459,2rAI) 817,7 358,558 14et mov•m•nt In fund$ RECONCILIATION OF FUNDS 358.558 358,558 Totsl fvnds brwhtforn¥d 18 097 718 18 097 918 TOTAL FUNDS CARRIED FORWARD 18 456 276 18 456 276 RichmThl Chjrth thaTiUes Est* Rem 2024 .1