**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 **----- Start of picture text -----**
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
**----- End of picture text -----**
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. Page 1 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 Page 2 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: 1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or 2. the accounts do not accord with those records; or 3. 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: ............................................. Page 3 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 Page 4 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 Page 5 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... Page 6 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... Page 7 KENNINGTON PAROCHIAL CHARITY ## NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025 **----- Start of picture text -----**
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
**----- End of picture text -----**
continued... Page 8 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| |---|---|---|---|---| continued... Page 9 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| |---|---|---| continued... Page 10 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. Page 11 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 Page 12