**Charity number: 214713**
## **ALL SAINTS CHURCH LANDS CHARITY**
**UNAUDITED**
**TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **ALL SAINTS CHURCH LANDS CHARITY**
## **CONTENTS**
||Page|
|---|---|
|**Reference and Administrative Details of the Charity, its Trustees and Advisers**|1|
|**Trustees' Report**|2 - 6|
|**Independent Examiner's Report**|7 - 8|
|**Statement of Financial Activities**|9|
|**Balance Sheet**|10|
|**Notes to the Financial Statements**|11 - 29|
## **ALL SAINTS CHURCH LANDS CHARITY**
## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2023**
|**Trustees**|Mr R C Metcalfe, Chairman1|
|---|---|
||Vacancy1|
||Mr J N Porter2|
||Mr P E Woolf2|
||Mrs M A Dymond(resigned 27 January 2023)2|
||
Mr J Durie2|
|Mrs D M Woolf2||
|1
Nominated Trustee by PCC of Christ Church with St Ewen, All Saints and St
George
2
Co-opted Trustees
**Charity registered**
**number**
214713
**Principal office**
1 All Saints Court
Bristol
BS1 1JN
**Clerk to the Trustees**
Mrs A S Maddox
**Independent Examiner**
JonathanMarchant,ForvisMazars LLP
Chartered Accountants
90 Victoria Street
Bristol
BS1 6DP
**Bankers**
**Solicitors**
**Investment Managers**
**Property Adviser**
NatWest Bank Plc
Bristol
BS99 7UG
DAC Beachcroft LLP
Portwall Place
Portwall Lane
Bristol
BS99 7UD
CCLA (as managers for CBF Funds)
Senator House
85 Queen Victoria Street
London
EC4V 4ET
W H R Durie
Leigh Court Business Park
Abbots Leigh
Bristol
BS8 3RA||
Page 1
## **ALL SAINTS CHURCH LANDS CHARITY**
## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2023**
The Trustees present their annual report together with the financial statements of the Charity for the 1 January 2023 to 31 December 2023. The financial statements have been prepared in accordance with the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), and they and the annual report comply with the Charity’s governing instrument and applicable law.
## **Objectives and activities**
## **a. Objectives and activities**
The Scheme provides that, subject to the payment of
- a) all costs charges and expenses in relation to the property of the Charity and its administration and management;
- b) a yearly sum of £200, or such other sum as the Charity Commissioners approve from time to time, to the Incumbent of the Benefice of All Hallows Easton for the Incumbent’s office and duties;
- c) such yearly sum as the Trustees shall from time to time consider prudent to pay to a Cyclical Maintenance Fund for the ordinary maintenance and repair of the Almshouse;
- d) such yearly sum as the Trustees shall from time to time consider prudent to pay to an Extraordinary Repair Fund for the extraordinary repair improvement or rebuilding of the Almshouse;
- The Trustees shall apply the balance of the income of the Charity for either or both of the following:
- i) so far as requisite for the benefit of the Almshouse residents or any of them in such manner as the Trustees think fit from time to time;
- ii) in or towards the upkeep and repair of the fabric of All Saints Church, the maintenance of any services in the Church, and the provision and maintenance of proper furniture and fittings, including any apparatus for heating and lighting the Church.
The Trustees shall apply any residual income in furthering the religious and other charitable work of the Church of England in the City of Bristol with particular regard to the needs of the ecclesiastical parishes of Christ Church with St George Bristol and St Stephen with St James and St John the Baptist Bristol.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
## **b. Policies and objectives**
Within the objects of the Charity, the policy of the Trustees is:
a) to provide a safe, secure and comfortable home for the Almshouse residents;
b) to keep in repair the Glebe House attached to All Saints Church, in which the Charity has a long leasehold interest and where it maintains an office; and
c) to consider assisting in the upkeep and repair of the fabric of All Saints Church.
Page 2
## **ALL SAINTS CHURCH LANDS CHARITY**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023**
## **Objectives and activities (continued)**
## **c. Investment policy**
The Trustees may invest the assets of the Charity in such investments as are authorised by the Trustee Act 2000, subject to the restrictions and conditions contained in that Act. The Charity’s investments consist mainly of three investment properties details of which are set out in note 14, and two CBF and two M&G Funds details of which are set out in note 17.
The Funds aim at steady income and capital appreciation to provide long-term protection from inflation, whilst adopting an appropriate ethical investment policy. These objectives are reviewed annually. The money in the CBF Funds is available at short notice and with minimal risk of capital loss. Accounts in all the Funds obtain a rate of interest close to money market rates.
## **d. Reserves policy**
Annual provision is made for ongoing repairs to the Almshouse in accordance with guidance from The Almshouse Association.
The accumulated surplus of unrestricted funds is held for further calls on the resources of the Charity in relation to the Almshouse and the Glebe House and also for contributions to the repair and upkeep of All Saints Church and its historical contents.
The Trustees regularly review the reserves position in the light of the Charity’s commitments, both existing and anticipated.
At the year end the Charity held endowment funds of £2,168,035 (2022: £2,122,143) and unrestricted funds of £284,771 (2022: £589,766).
## **e. Grant-making policies**
Grants are made in accordance with the scheme.
Page 3
## **ALL SAINTS CHURCH LANDS CHARITY**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023**
## **Achievements and performance**
## **a. Review of activities**
The Trustees aim to have the Almshouse fully occupied.
The grants made in the year are set out in Note 7. These include grants made to residents.
The large expenditure in the year has occurred from the costs of the charity seeking to put together a planning application for the redevelopment of the Almshouse into a larger unit, and has been spent on all the necessary reports and drawing to be able to submit a full planning application, which the charity have done and are awaiting the outcome of now.
## **Financial review**
## **a. Financial performance**
Total income for the year amounted to £148,405 (2022: £157,622), and total expenditure amounted to £475,506 (2022: £153,158), leaving a net deficit, before revaluations and investment gains, of £327,101 (2022: surplus of £4,464). Revaluation and investment gains amounted to £67,998 (2022: losses of £82,013).
## **b. 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. The accounting policies upon which they have been prepared are set out in note 2.
## **Structure, governance and management**
## **a. Constitution**
The Charity (charity registration number 214713) is governed by a Charity Commission Scheme dated 11 August 1978 as amended by a Charity Commission Scheme dated 15 December 1987 and a Resolution passed on 12 January 2016 (“the Scheme”).
By a Charity Commission Registration Certificate dated 8 January 2001 the Trustees of the Charity were registered by the name of the Trustees of All Saints Church Lands Charity.
Page 4
## **ALL SAINTS CHURCH LANDS CHARITY**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023**
## **Structure, governance and management (continued)**
## **b. Organisational structure and decision-making policies**
The Scheme provides for the Trustees of the Charity to consist of eight competent persons, two Nominated Trustees and six Co-opted Trustees. The two Nominated Trustees are appointed by the Parochial Church Council of the ecclesiastical parish of Christ Church with St Ewen All Saints and St George Bristol, each for a term of four years. The six Co-opted Trustees are persons who through residence, occupation, employment or otherwise have special knowledge of the City of Bristol, and are each appointed for a term of five years by a resolution of the Trustees passed at a special meeting.
The Trustees and the Clerk named on page 1 have served throughout the year and since the year end.
All new Trustees meet with the Clerk and are provided with a pack including copies of the three documents comprising the Scheme, a list of the current Trustees, a copy of the latest accounts, and the Charity Commission’s booklet entitled The Essential Trustee: what you need to know.
The Trustees meet at least four times a year. All major decisions are made by the Trustees and are carried out on a day-to-day basis by the Clerk.
The Trustees all give of their time freely. No remuneration or expenses were paid by the Charity to any of the Trustees during the year.
## **c. Public benefit**
The Trustees have complied with their duty to have regard to the public benefit guidance published by the Charity Commission in accordance with the Charities Act 2011, and they have referred to it when reviewing policy, making grants and filling vacancies in the Almshouse. The Trustees have within the provisions of the Scheme sought to ensure that details of any vacancies in the Almshouse are made known through the local press and the local Church of England clergy.
## **d. Risk management**
The Trustees have examined the major strategic operational risks which the Charity may face, and they have established systems which enable regular reports to be produced so that the necessary steps can be taken to minimise these risks. These risks have been summarised in the annual risk assessment and management strategy document and include risks in relation to asset management, property management, reputational risks, operational statutory and legal risks, governance risks and COVID risks.
## **e. Relationships with other charities**
The Clerk is employed by the Charity, but also works for Bristol Archdeaconry Charity. The costs of the Clerk's employment are shared on a percentage basis agreed by the Trustees of both charities.
Page 5
## **ALL SAINTS CHURCH LANDS CHARITY**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023**
## **Statement of Trustees' responsibilities**
The Trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles of the Charities SORP (FRS 102);
- make judgments and accounting estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Charity Commission Scheme. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustees and signed on their behalf by:
Roger Metcalfe (Jul 9, 2024 16:27 GMT+1)
## Roger Metcalfe
> Date: Jul 9, 2024
Page 6
## **ALL SAINTS CHURCH LANDS CHARITY**
**INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2023**
## **Independent Examiner's Report to the Trustees of All Saints Church Lands Charity ('the Charity')**
I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 December 2023.
## **Responsibilities and Basis of Report**
As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent Examiner's Statement**
Your attention is drawn to the fact that the Charity has prepared the accounts in accordance with 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) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.
I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
I have completed my examination. I confirm that no 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 Charity as required by section 130 of the 2011 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.
Page 7
## **ALL SAINTS CHURCH LANDS CHARITY**
## **INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023**
This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent Examiner's Report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.
Signed: Dated: Jul 9, 2024 Jonathan Marchant (Jul 9, 2024 17:00 GMT+1)
Jonathan Marchant FCA
Forvis Mazars LLP Chartered Accountants 90 Victoria Street Bristol BS1 6DP
Page 8
**ALL SAINTS CHURCH LANDS CHARITY**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023**
|**Note**
**Income from:**
Donations and legacies
**3**
Charitable activities
**4**
Investments
**5**
**Total income**
**Expenditure on:**
Raising funds
**6**
Charitable activities
**Total expenditure**
**Net (expenditure)/income before net**
**gains/(losses) on investments**
Net gains/(losses) on investments
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
Net movement in funds
**Total funds carried forward**|**Unrestricted**
**funds**
**2023**
**£**
2,110
42,969
103,326
148,405
39,722
424,401
464,123
(315,718)
10,723
(304,995)
589,766
(304,995)
284,771|**Endowment**
**funds**
**2023**
**£**
-
-
-
-
-
11,383
11,383
(11,383)
57,275
45,892
2,122,143
45,892
2,168,035|**Total**
**funds**
**2023**
**£**
2,110
42,969
103,326
148,405
39,722
435,784
475,506
(327,101)
67,998
(259,103)
2,711,909
(259,103)
2,452,806|**Total**
**funds**
**2022**
**£**
30,556
43,026
84,040
157,622
20,728
132,430
153,158
4,464
(82,013)
(77,549)
2,789,458
(77,549)
2,711,909|
|---|---|---|---|---|
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 11 to 29 form part of these financial statements.
Page 9
## **ALL SAINTS CHURCH LANDS CHARITY**
## **BALANCE SHEET FOR THE YEAR ENDED 31 DECEMBER 2023**
|**Note**
**Fixed assets**
Tangible assets
**13**
Investments
**15**
Investment property
**14**
**Current assets**
Debtors
**16**
Investments
**17**
Cash at bank and in hand
Creditors: amounts falling due within one
year
**18**
**Net current assets**
**Total assets less current liabilities**
**Total net assets**
**Charity funds**
Endowment funds
**20**
Unrestricted funds
**20**
**Total funds**|27,229
185,015
143,023
355,267
(73,751)|**2023**
**£**
428,492
762,798
980,000
2,171,290
281,516
2,452,806
2,452,806
2,168,035
284,771
2,452,806|33,013
170,992
455,994
659,999
(74,573)|**2022**
**£**
440,960
705,523
980,000|
|---|---|---|---|---|
|||||2,126,483
585,426|
|||||2,711,909|
|||||2,711,909|
|||||2,122,143
589,766|
|||||2,711,909|
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
Roger Metcalfe (Jul 9, 2024 16:27 GMT+1)
## Roger Metcalfe
## Date: Jul 9, 2024
The notes on pages 11 to 29 form part of these financial statements.
Page 10
## **ALL SAINTS CHURCH LANDS CHARITY**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **1. General information**
All Saints Church Lands Charity is an unincorporated charity registered with the Charity Commission in England and Wales, registered number 214713. Its registered office is 1 All Saints Court, Bristol, BS1 1JN.
## **2. Accounting policies**
## **2.1 Basis of preparation of financial statements**
The financial statements 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) , the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view.
All Saints Church Lands Charity meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
The presentation currency is sterling and the financial statements are rounded to the nearest £. The comparative information relates to the year ended 31 December 2022.
## **2.2 Going concern**
The Trustees are confident that they can manage expenditure to align with the income generated from investment returns. As a result, the accounts have been prepared on a going concern basis.
## **2.3 Income**
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Rental income, income tax recoverable, insurance recharged to tenants and contributions from Almshouse residents are accounted for when they become due.
Grants receivable, dividends, interest and income on insurance claims are accounted for when funds are receivable.
Page 11
## **ALL SAINTS CHURCH LANDS CHARITY**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **2. Accounting policies (continued)**
## **2.4 Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources.
All expenditure is accounted for on an accruals basis. All expenses including support costs and governance costs are allocated to the applicable expenditure headings.
Investment management costs relate to those costs incurred in respect of rental properties owned by the charity.
Governance costs are those incurred in connection with administration of the Charity and compliance with constitutional and statutory requirements.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
Charitable costs include grants made and costs incurred in respect of All Saints House.
## **2.5 Interest receivable**
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
## **2.6 Taxation**
The charity is a registered charity and as such is not liable to taxation on the net income from its charitable activities.
Irrecoverable VAT is charged against the expenditure heading for which it was incurred.
Page 12
## **ALL SAINTS CHURCH LANDS CHARITY**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **2. Accounting policies (continued)**
## **2.7 Tangible fixed assets and depreciation**
All Saints House was valued by Alder King on 31 December 2010 on an open market value basis. This property is used as Almshouses in the furtherance of the Charity’s objectives. The property is depreciated at 2% on the revalued amount per annum.
1 All Saints Court was valued by Alder King on 31 December 2010 on an open market value basis. Due to the restrictive user clause in the long lease the property has reduced value in the open market.
The fixtures and fittings installed at All Saints House have been included in the accounts at cost less a provision for depreciation of 25% per annum on a reducing balance basis.
Much of the office equipment installed in All Saints Court has been fully depreciated and has therefore not been included in the accounts. All recent additions have been included at cost and an appropriate provision made for depreciation of 25% per annum on a reducing balance basis.
## **2.8 Investments**
Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance Sheet date, unless fair value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and shown in the heading ‘Gains/(losses) on investments’ in the Statement of Financial Activities.
Investments in government stocks and charity investment funds are held in the name of the Trustees body corporate wherever possible. These are stated at market value at 31 December.
Investments are also held in The Central Board of Finance Church of England Deposit Fund Capital Wider Account. These are also stated at market value at 31 December.
Investment properties were valued by Alder King on 31 December 2018 on an open market basis. The Trustees are not aware of any material changes since this valuation. The Trustees intend to obtain revaluations of the properties in the year ended 31 December 2024.
All income from the investment assets is available for use by the Trustees in the furtherance of the Charity’s objectives as they see fit.
All gains and losses on the investments of the Charity are retained within the fund to which they relate.
## **2.9 Debtors**
Other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount relating to future periods.
## **2.10 Cash at bank and in hand**
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
Page 13
## **ALL SAINTS CHURCH LANDS CHARITY**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **2. Accounting policies (continued)**
## **2.11 Liabilities and provisions**
Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost.
## **2.12 Financial instruments**
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
## **2.13 Pensions**
The Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the year.
## **2.14 Fund accounting**
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
The Endowment funds represent the endowed capital of the Charity, the income from which is to be used in the work of the Charity. The capital of the funds must be retained for the benefit of the Charity.
Investment income, gains and losses are allocated to the appropriate fund.
## **3. Income from donations and legacies**
||**Unrestricted**|**Total**|
|---|---|---|
||**funds**|**funds**|
||**2023**|**2023**|
||**£**|**£**|
|Other incoming resources|2,110|2,110|
Page 14
## **ALL SAINTS CHURCH LANDS CHARITY**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **3. Income from donations and legacies (continued)**
||**Unrestricted**|**Total**|
|---|---|---|
||**funds**|**funds**|
||**2022**|**2022**|
||**£**|**£**|
|Other incoming resources|30,556|30,556|
**4. Income from charitable activities**
|All Saints House Contributions
All Saints House Contributions
**All Saints House Contributions**
Maintenance contributions
Contributions receivable for electricity and telephone|**Unrestricted**
**funds**
**2023**
**£**
42,969
**Unrestricted**
**funds**
**2022**
**£**
43,026
**2023**
**£**
38,970
3,999
41,706|**Total**
**funds**
**2023**
**£**
42,969|
|---|---|---|
|||**Total**
**funds**
**2022**
**£**
43,026|
|||**2022**
**£**
39,679
3,347
43,026|
Page 15
## **ALL SAINTS CHURCH LANDS CHARITY**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **5. Investment income**
|Rental property income
Dividends received
Deposit and other interest
Rental property income
Dividends received
Deposit and other interest
**Rental property income**
46 High Street
56 Corn Street
58 Corn Street - Lower Floor
58 Corn Street - Upper Floor
Insurance premium charge to tenants|**Unrestricted**
**funds**
**2023**
**£**
72,782
19,435
11,109
103,326
**Unrestricted**
**funds**
**2022**
**£**
58,918
19,148
5,974
84,040
**2023**
**£**
-
25,000
13,000
24,384
62,384
10,398
72,782|**Total**
**funds**
**2023**
**£**
72,782
19,435
11,109
103,326|
|---|---|---|
|||**Total**
**funds**
**2022**
**£**
58,918
19,148
5,974
84,040|
|||**2022**
**£**
14,280
-
13,000
24,060|
|||51,340
7,578
58,918|
Page 16
## **ALL SAINTS CHURCH LANDS CHARITY**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **6. Investment management costs**
|Rent deposit interest
Legal and professional charges
Sundry rental property expenses
Property insurance recharged to tenants
Rent deposit interest
Legal and professional charges
Sundry rental property expenses
Property insurance recharged to tenants|**Unrestricted**
**funds**
**2023**
**£**
(101)
6,601
1,530
31,692
39,722
**Unrestricted**
**funds**
**2022**
**£**
3,097
2,914
7,139
7,578
20,728|**Total**
**funds**
**2023**
**£**
(101)
6,601
1,530
31,692
39,722|
|---|---|---|
|||**Total**
**funds**
**2022**
**£**
3,097
2,914
7,139
7,578
20,728|
## **7. Analysis of grants**
|All Saints & City Churches Society of Bell Ringers
All Saints House Residents|**Grants to**
**Institutions**
**2023**
**£**
231
-
231|**Grants to**
**Individuals**
**2023**
**£**
-
7,912
7,912|**Total**
**funds**
**2023**
**£**
231
7,912
8,143|
|---|---|---|---|
Page 17
**ALL SAINTS CHURCH LANDS CHARITY**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **7. Analysis of grants (continued)**
|All Hallows, Easton
All Saints & City Churches Society of Bell Ringers
All Saints House Residents|**Grants to**
**Institutions**
**2022**
**£**
7,000
219
-
7,219|**Grants to**
**Individuals**
**2022**
**£**
-
-
510
510|**Total**
**funds**
**2022**
**£**
7,000
219
510
7,729|
|---|---|---|---|
## **8. All Saints House Property Costs**
|Council tax
Water and sewerage rates
Repairs and maintenance
Cleaning and caretaking
Insurance
Gardening
Heating, lighting, telephone and television
Sundry expenses
National Almshouse Association
Legal and Professional fees
Stationery/postage
Travel
Computer costs
Ex-Gratia payment
Subscriptions
Leases
Wages and salaries
Pension cost
Depreciation|**2023**
**£**
16,447
9,376
173,819
7,913
1,281
-
10,621
1,987
(348)
105,475
(287)
542
-
-
678
34,448
14,842
1,484
12,468
390,746|**2022**
**£**
6,139
10,744
17,950
6,700
1,400
-
11,019
2,967
-
2,842
(954)
402
-
-
873
6,096
13,374
1,337
12,786
93,675|
|---|---|---|
Page 18
## **ALL SAINTS CHURCH LANDS CHARITY**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **9. Governance Costs**
|Independent Examiner and Accountancy Fees
Trustee Indemnity Insurance
Glebe House cleaning
Glebe House repairs
Glebe House utilities
Bank charges
Governance PPS
Clerk's salary costs
Clerk's pension costs|**2023**
**£**
5,028
-
4,482
1,813
13,415
291
982
9,895
989
36,895|**2022**
**£**
4,794
1,238
4,464
1,943
7,165
279
1,335
8,916
892
31,026|
|---|---|---|
## **10. Independent examiner's remuneration**
The independent examiner's remuneration amounts to an independent examiner's fee of
£2,400 (2022: £2,300) and accounts preparation fee of £2,628 (2022: £2,494).
## **11. Staff costs**
|**Staff costs**|||
|---|---|---|
|Wages and salaries
Contribution to defined contribution pension schemes|**2023**
**£**
24,737
2,473
27,210|**2022**
**£**
22,290
2,229|
|||24,519|
The average number of persons employed by the Charity during the year was as follows:
||**2023**|**2022**|
|---|---|---|
||**No.**|**No.**|
|Clerk|1|1|
No employee received remuneration amounting to more than £60,000 in either year.
The Charity considers its key management personnel comprise the Trustees who received no remuneration nor were reimbursed any expenses in the year.
Page 19
## **ALL SAINTS CHURCH LANDS CHARITY**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **12. Trustees' remuneration and expenses**
During the year, no Trustees received any remuneration or other benefits (2022 - £NIL).
During the year ended 31 December 2023, no Trustee expenses have been incurred (2022 - £NIL).
## **13. Tangible fixed assets**
|**Cost or valuation**
At 1 January 2023
At 31 December 2023
**Depreciation**
At 1 January 2023
Charge for the year
At 31 December 2023
**Net book value**
At 31 December 2023
At 31 December 2022|**Freehold**
**property**
**£**
569,135
569,135
132,515
11,383
143,898
425,237
436,620|**Fixtures and**
**fittings**
**£**
47,023
47,023
42,683
1,085
43,768
3,255
4,340|**Total**
**£**
616,158
616,158|
|---|---|---|---|
||||175,198
12,468
187,666|
||||428,492
440,960|
Page 20
## **ALL SAINTS CHURCH LANDS CHARITY**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **14. Investment property**
|**Valuation**
At 1 January 2023
At 31 December 2023|**Freehold**
**investment**
**property**
**£**
980,000|
|---|---|
||980,000|
The properties were revalued in 2018 by Alder King. The Trustees plan to have the properties revalued in 2024.
## **Comprising**
|56 Corn Street, Bristol
58 Corn Street, Bristol
46 High Street, Bristol|**2023**
**£**
310,000
410,000
260,000
980,000|**2022**
**£**
310,000
410,000
260,000
980,000|
|---|---|---|
Page 21
## **ALL SAINTS CHURCH LANDS CHARITY**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **15. Fixed asset investments**
|**Cost or valuation**
At 1 January 2023
Revaluations
At 31 December 2023
**Net book value**
At 31 December 2023
At 31 December 2022
**Investments at market value comprise:**|**Listed**
**investments**
**£**
705,523
57,275|
|---|---|
||762,798|
||762,798|
||705,523|
|||
|Listed investments
All the fixed asset investments are held in the UK.|**2023**
**£**
762,798
762,798|**2022**
**£**
705,523
705,523|
|---|---|---|
## **Comprising**
|CBF Church of England Fund 29,479.83 units
CBF Capital Wider Deposit Account
M & G Charifund Units
M & G Charibond Charities Fixed Interest Common Investment Fund
Income Shares|**2023**
**£**
666,400
71,920
14,436
10,042
762,798|**2022**
**£**
609,095
71,920
14,783
9,725
705,523|
|---|---|---|
Page 22
## **ALL SAINTS CHURCH LANDS CHARITY**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **16. Debtors**
|**Due within one year**
Other debtors
Prepayments and accrued income|**2023**
**£**
6,628
20,601
27,229|**2022**
**£**
9,108
23,905|
|---|---|---|
|||33,013|
## **17. Current asset investments**
||**2023**|**2022**|
|---|---|---|
||**£**|**£**|
|Almshouse Investments|185,015|170,992|
## **National Association of Almshouses Common Investment Fund Shares**
|710.639 (2022: 697.743) for All Saints House Extraordinary Repair Fund
940.063 (2022: 922.561) for All Saints House Cyclical Maintenance Fund|**2023**
**£**
79,650
105,365
185,015|**2022**
**£**
73,633
97,359
170,992|
|---|---|---|
## **Unrestricted Funds**
|Value at 1 January
Invested
Revaluation gain
**Value at 31 December**
Historical cost|**2023**
**£**
170,992
3,300
10,723
185,015
**£**
77,395|**2022**
**£**
166,411
3,300
1,281
170,992|
|---|---|---|
|||**£**
74,095|
Page 23
## **ALL SAINTS CHURCH LANDS CHARITY**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **18. Creditors: Amounts falling due within one year**
|Trade creditors
Other creditors
Accruals and deferred income|**2023**
**£**
56,000
12,723
5,028
73,751|**2022**
**£**
57,380
12,399
4,794|
|---|---|---|
|||74,573|
## **19. Financial instruments**
||**2023**|**2022**|
|---|---|---|
||**£**|**£**|
|**Financial assets**|||
|Financial assets measured at fair value through income and expenditure|328,038|626,986|
Financial assets measured at fair value through income and expenditure comprise current asset investments and cash at bank.
Page 24
## **ALL SAINTS CHURCH LANDS CHARITY**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **20. Statement of funds**
## **Statement of funds - current year**
|**Unrestricted**
**funds**
All Saints House
Extraordinary
Repair Fund
All Saints House
Cyclical
Maintenance
Fund
Glebe House
and All Saints
Church Repair
Reserve
Property
Expenses
Reserve
General Fund
**Endowment**
**funds**
Charities Capital
Fund
Almshouse
Capital Fund
**Total of funds**|**Balance at 1**
**January**
**2023**
**£**
73,633
97,359
137,960
7,375
273,439
589,766
1,685,523
436,620
2,122,143
2,711,909|**Income**
**£**
-
-
-
7,078
141,327
148,405
-
-
-
148,405|**Expenditure**
**£**
-
-
-
(27,656)
(436,467)
(464,123)
-
(11,383)
(11,383)
(475,506)|**Transfers**
**in/(out)**
**£**
1,400
1,900
-
-
(3,300)
-
-
-
-
-|**Gains/**
**(Losses)**
**£**
4,617
6,106
-
-
-
10,723
57,275
-
57,275
67,998|**Balance at**
**31**
**December**
**2023**
**£**
79,650
105,365
137,960
(13,203)
(25,001)
284,771|
|---|---|---|---|---|---|---|
|||||||1,742,798
425,237
2,168,035|
|||||||2,452,806|
Page 25
## **ALL SAINTS CHURCH LANDS CHARITY**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **20. Statement of funds (continued)**
**Statement of funds - prior year**
|**Unrestricted**
**funds**
All Saints House
Extraordinary
Repair Fund
All Saints House
Cyclical
Maintenance
Fund
Glebe House
and All Saints
Church Repair
Reserve
Property
Expenses
Reserve
General Fund
**Endowment**
**funds**
Charities Capital
Fund
Almshouse
Capital Fund
**Total of funds**|**Balance at**
**1 January**
**2022**
**£**
71,681
94,730
135,861
(13,511)
283,877
572,638
1,768,817
448,003
2,216,820
2,789,458|**Income**
**£**
-
-
2,099
26,070
129,453
157,622
-
-
-
157,622|**Expenditure**
**£**
-
-
-
(11,076)
(130,699)
(141,775)
-
(11,383)
(11,383)
(153,158)|**Transfers**
**in/(out)**
**£**
1,400
1,900
-
5,892
(9,192)
-
-
-
-
-|**Gains/**
**(Losses)**
**£**
552
729
-
-
-
1,281
(83,294)
-
(83,294)
(85,640)|**Balance at**
**31**
**December**
**2022**
**£**
73,633
97,359
137,960
7,375
273,439
589,766|
|---|---|---|---|---|---|---|
|||||||1,685,523
436,620
2,122,143|
|||||||2,708,282|
## **Almshouse Capital Fund**
This fund is represented by the Almshouse used in furtherance of the Charity’s objectives.
Page 26
## **ALL SAINTS CHURCH LANDS CHARITY**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **20. Statement of funds (continued)**
## **Charities Capital Fund**
This fund comprises the remainder of the endowment invested in the Common Investment Fund.
## **Cyclical Maintenance Fund**
This fund is a requirement under section 27 of the Charity Commission Scheme dated 11 August 1978.
## **Extraordinary Repair Fund**
This fund is a requirement under section 28 of the Charity Commission Scheme dated 11 August 1978.
## **Glebe House and All Saints Church Repairs Reserve Fund**
This fund is for future repairs to the Glebe House and All Saints Church.
## **Property Expenses Reserve Fund**
The Trustees have agreed to put 10% of the annual rental income into this fund for future expenditure in respect of the investment properties. This fund is a requirement under section 28 of the Charity Commission Scheme dated 11 August 1978.
## **21. Summary of funds**
## **Summary of funds - current year**
|General funds
Endowment
funds|**Balance at 1**
**January**
**2023**
**£**
589,766
2,122,143
2,711,909|**Income**
**£**
148,405
-
148,405|**Expenditure**
**£**
(464,123)
(11,383)
(475,506)|**Transfers**
**in/(out)**
**£**
-
-
-|**Gains/**
**(Losses)**
**£**
10,723
57,275
67,998|**Balance at**
**31**
**December**
**2023**
**£**
284,771
2,168,035
2,452,806|
|---|---|---|---|---|---|---|
## **Summary of funds - prior year**
|General funds
Endowment
funds|**Balance at**
**1 January**
**2022**
**£**
572,638
2,216,820
2,789,458|**Income**
**£**
157,622
-
157,622|**Expenditure**
**£**
(141,775)
(11,383)
(153,158)|**Transfers**
**in/(out)**
**£**
-
-
-|**Gains/**
**(Losses)**
**£**
(2,346)
(83,294)
(85,640)|**Balance at**
**31**
**December**
**2022**
**£**
586,139
2,122,143
2,708,282|
|---|---|---|---|---|---|---|
Page 27
## **ALL SAINTS CHURCH LANDS CHARITY**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **22. Analysis of net assets between funds**
## **Analysis of net assets between funds - current year**
|Tangible fixed assets
Fixed asset investments
Investment property
Current assets
Creditors due within one year
**Total**|**Unrestricted**
**funds**
**2023**
**£**
3,255
-
-
355,267
(73,751)
284,771|**Endowment**
**funds**
**2023**
**£**
425,237
762,798
980,000
-
-
2,168,035|**Total**
**funds**
**2023**
**£**
428,492
762,798
980,000
355,267
(73,751)
2,452,806|
|---|---|---|---|
## **Analysis of net assets between funds - prior year**
|Tangible fixed assets
Fixed asset investments
Investment property
Current assets
Creditors due within one year
**Total**|**Unrestricted**
**funds**
**2022**
**£**
4,340
-
-
659,999
(74,573)
589,766|**Endowment**
**funds**
**2022**
**£**
436,620
705,523
980,000
-
-
2,122,143|**Total**
**funds**
**2022**
**£**
440,960
705,523
980,000
659,999
(74,573)
2,711,909|
|---|---|---|---|
## **23. Operating lease commitments**
At 31 December 2023 the Charity had commitments to make future minimum lease payments under noncancellable operating leases as follows:
|**Equipment**
Not later than 1 year
Later than 1 year and not later than 5 years
Later than 5 years|**2023**
**£**
24,673
56,225
71,151
152,049|**2022**
**£**
6,048
8,208
-|
|---|---|---|
|||14,256|
Page 28
## **ALL SAINTS CHURCH LANDS CHARITY**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023**
## **24. Related party transactions**
The Charity has not entered into any related party transaction during the year, nor are there any outstanding balances owing between related parties and the Charity at 31 December 2023.
Page 29