REGISTERED CHARITY NUMBER: 213549
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
FOR
KENNINGTON PAROCHIAL CHARITY
Cassidys Chartered Accountants South Stour Offices South Stour Road Mersham Ashford Kent TN25 7HS
KENNINGTON PAROCHIAL CHARITY
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
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Page
Report of the Trustees 1 to 2
Independent Examiner's Report 3
Statement of Financial Activities 4
Balance Sheet 5
Notes to the Financial Statements 6 to 11
Detailed Statement of Financial Activities 12
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KENNINGTON PAROCHIAL CHARITY
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025
The trustees present their report with the financial statements of the charity for the year ended 31 March 2025. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The objects of the charity are as follows : a) Provision of allotments for the poor. b) Provision of almshouses for the needy.
c) For the benefit of residents in the almhouses of the charity.
d) To relieve either generally or individually needy persons resident in the area of benefit.
Activities
Housing owned by the Charity is maintained and rented, together with income generated from cash and investments so as to be assured that the long term objective can be met.
ACHIEVEMENT AND PERFORMANCE
Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in Accounting Policies.
Review of activities
Incoming resources for the year amounted to £31,295 (2024 - £28,418). Resources expended amounted to £6,344 (2024 - £8,738). This has resulted in a surplus for the year of £24,951 (2024 - £19,680).
The Trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Trust's aims and objectives and in planning future activities.
Investments are shown at market value at the date of the accounts.
FINANCIAL REVIEW
Reserves policy
The Trustees have reviewed the general reserves held by the charity and feel that they are not excessive. The trustees also feel that the general reserves should represent at least 1 month's expected general expenditure. The trustees continue to seek alternative investments for the charity, and are in consultation with Charity Commission. In the meantime, excess cash has been invested on long term deposits and an investment portfolio to realise the maximum interest available.
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
Under schemes established by the Charities Commissioners on 6 September 1910 and 27 February 1934, investment formerly administered as assets of "United Charities" were to be administered as assets of Kennington Parochial Charities.
Organisational structure
The Trustees of Kennington Parochial Charities are responsible for the general control and management of the administration of the charity. The Board of Trustees is made up of six members, one of whom must be a vicar, two of which are appointed by the Council, and the remaining two are voted for by the Board of Trustees.
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KENNINGTON PAROCHIAL CHARITY
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 213549
Principal address 115 Faversham Road Kennington Ashford Kent TN24 9DE Trustees P J F Sims A J Buchanan Mrs C White N Iliffe J D Hudson D J Laws M J Bridger
Independent Examiner S G Whorlow Cassidys Chartered Accountants South Stour Offices South Stour Road Mersham Ashford Kent TN25 7HS
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
........................................................................ Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF KENNINGTON PAROCHIAL CHARITY
Independent examiner's report to the trustees of Kennington Parochial Charity
I report to the charity trustees on my examination of the accounts of Kennington Parochial Charity (the Trust) for the year ended 31 March 2025.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
S G Whorlow
Cassidys Chartered Accountants South Stour Offices South Stour Road Mersham Ashford Kent TN25 7HS
Date: .............................................
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KENNINGTON PAROCHIAL CHARITY
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025
| Notes INCOME AND ENDOWMENTS FROM Investment income 2 EXPENDITURE ON Raising funds 3 Other Total Net gains on investments NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
31.3.25 Unrestricted funds £ 31,295 2,879 3,465 6,344 805 25,756 1,095,960 1,121,716 |
31.3.24 Total funds £ 28,418 4,193 4,545 8,738 120,274 139,954 956,006 1,095,960 |
|---|---|---|
The notes form part of these financial statements
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KENNINGTON PAROCHIAL CHARITY
BALANCE SHEET 31 MARCH 2025
| Notes FIXED ASSETS Investment property 7 CURRENT ASSETS Debtors 8 Investments 9 Cash at bank CREDITORS Amounts falling due within one year 10 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 11 Unrestricted funds TOTAL FUNDS |
31.3.25 Unrestricted funds £ 630,000 465 250,043 241,868 492,376 (660) 491,716 1,121,716 1,121,716 1,121,716 1,121,716 |
31.3.24 Total funds £ 630,000 455 250,228 215,937 466,620 (660) 465,960 1,095,960 1,095,960 1,095,960 1,095,960 |
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. Trustee
The notes form part of these financial statements
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KENNINGTON PAROCHIAL CHARITY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, as modified by the revaluation of certain assets.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Statement of Financial Activities.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
2. INVESTMENT INCOME
| Rents received Deposit account interest Dividends received |
31.3.25 31.3.24 £ £ 14,065 13,709 8,705 6,245 8,525 8,464 |
|---|---|
| 31,295 28,418 |
continued...
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KENNINGTON PAROCHIAL CHARITY
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025
3. RAISING FUNDS
Investment management costs
| Portfolio management Property repairs |
31.3.25 31.3.24 £ £ 2,241 2,092 638 2,101 |
|---|---|
| 2,879 4,193 |
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2025 nor for the year ended 31 March 2024.
5. STAFF COSTS
The average monthly number of employees during the year was as follows:
| Administration | 31.3.25 1 |
31.3.24 1 |
|---|---|---|
| No employees received emoluments in excess of £60,000. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES INCOME AND ENDOWMENTS FROM Investment income |
Unrestricted funds £ 28,418 |
|
| EXPENDITURE ON Raising funds Other |
4,193 4,545 |
|
| Total | 8,738 | |
| Net gains on investments | 120,274 | |
| NET INCOME RECONCILIATION OF FUNDS Total funds brought forward |
139,954 956,006 |
6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
continued...
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KENNINGTON PAROCHIAL CHARITY
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025
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6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
Unrestricted
funds
£
TOTAL FUNDS CARRIED FORWARD 1,095,960
7. INVESTMENT PROPERTY
£
FAIR VALUE
At 1 April 2024
and 31 March 2025 630,000
NET BOOK VALUE
At 31 March 2025 630,000
At 31 March 2024 630,000
Fair value at 31 March 2025 is represented by:
£
Valuation in 2019 165,472
Valuation in 2024 110,000
Cost 354,528
630,000
8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.25 31.3.24
£ £
Prepayments 465 455
9. CURRENT ASSET INVESTMENTS
31.3.25 31.3.24
£ £
Listed investments 250,043 250,228
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KENNINGTON PAROCHIAL CHARITY
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025
10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Other creditors 11. MOVEMENT IN FUNDS Unrestricted funds General fund Designated Funds - Investments Designated Funds - Fixed Assets TOTAL FUNDS Net movement in funds, included in the above ar Unrestricted funds General fund Designated Funds - Investments TOTAL FUNDS |
At 1.4.24 £ 210,873 255,087 630,000 1,095,960 1,095,960 e as follows: Incoming resources £ 22,769 8,526 31,295 31,295 |
Net movement in funds £ 18,666 7,090 - 25,756 25,756 Resources expended £ (4,103) (2,241) (6,344) (6,344) |
31.3.25 £ 660 Transfers between funds £ 2,590 (2,590) - - - Gains and losses £ - 805 805 805 |
31.3.24 £ 660 At 31.3.25 £ 232,129 259,587 630,000 1,121,716 1,121,716 Movement in funds £ 18,666 7,090 25,756 25,756 |
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continued...
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KENNINGTON PAROCHIAL CHARITY
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025
11. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Net movement At 1.4.23 in funds £ £ Unrestricted funds General fund 195,061 13,307 Designated Funds - Investments 240,945 16,647 Designated Funds - Fixed Assets 520,000 110,000 956,006 139,954 TOTAL FUNDS 956,006 139,954 Comparative net movement in funds, included in the above are as follows: Incoming Resources resources expended £ £ Unrestricted funds General fund 19,953 (6,646) Designated Funds - Investments 8,465 (2,092) Designated Funds - Fixed Assets - - 28,418 (8,738) TOTAL FUNDS 28,418 (8,738) A current year 12 months and prior year 12 months combined position is as follows: Net movement At 1.4.23 in funds £ £ Unrestricted funds General fund 195,061 31,973 Designated Funds - Investments 240,945 23,737 Designated Funds - Fixed Assets 520,000 110,000 956,006 165,710 TOTAL FUNDS 956,006 165,710 |
Transfers between funds £ 2,505 (2,505) - - - Gains and losses £ - 10,274 110,000 120,274 120,274 Transfers between funds £ 5,095 (5,095) - - - |
At 31.3.24 £ 210,873 255,087 630,000 1,095,960 1,095,960 Movement in funds £ 13,307 16,647 110,000 139,954 139,954 At 31.3.25 £ 232,129 259,587 630,000 1,121,716 1,121,716 |
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continued...
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KENNINGTON PAROCHIAL CHARITY
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025
11. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Unrestricted funds General fund Designated Funds - Investments Designated Funds - Fixed Assets |
Incoming resources £ 42,722 16,991 - |
Resources expended £ (10,749) (4,333) - |
Gains and losses £ - 11,079 110,000 |
Movement in funds £ 31,973 23,737 110,000 |
|---|---|---|---|---|
| 59,713 | (15,082) | 121,079 | 165,710 | |
| TOTAL FUNDS | 59,713 | (15,082) | 121,079 | 165,710 |
12. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2025.
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KENNINGTON PAROCHIAL CHARITY
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025
| INCOME AND ENDOWMENTS Investment income Rents received Deposit account interest Dividends received |
31.3.25 31.3.24 £ £ 14,065 13,709 8,705 6,245 8,525 8,464 |
|---|---|
| 31,295 28,418 |
|
| Total incoming resources EXPENDITURE Investment management costs Portfolio management Property repairs |
31,295 28,418 2,241 2,092 638 2,101 |
| Other Wages Insurance Sundry expenses |
2,879 4,193 1,920 1,885 610 533 275 267 |
| Support costs Governance costs Accountancy and legal fees |
2,805 2,685 660 1,860 |
| Total resources expended | 6,344 8,738 |
| Net income before gains and losses Realised recognised gains and losses Realised gains/(losses) on fixed asset investments |
24,951 19,680 805 120,274 |
| Net income | 25,756 139,954 |
This page does not form part of the statutory financial statements
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