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2024-12-31-accounts

Charity number: 214713

ALL SAINTS CHURCH LANDS CHARITY

UNAUDITED

TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

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 2024

Trustees Mr R C Metcalfe, Chairman1
Vacancy1
~~Mr J N Porter (resigned 25th January 2025)2~~

~~Mr P E Woolf2~~

~~Mr J Durie2~~

~~R R Pdlb itd 12th J 20242~~
~~ev eneury (appone anuary )~~
~~R N Hi itd 12th J 20242~~
~~ev arrs appone anuary~~
Charity registered
number

Principal office



Clerk to the Trustees

Independent Examiner



Bankers
Solicitors
Investment Managers
Property Adviser
~~Mr T Jenkinson (aointed 25th Jul 2024)2~~
214713
1 All Saints Court
Bristol
BS1 1JN
Mrs A S Maddox
JonathanMarchant,ForvisMazars LLP
Chartered Accountants
8th Floor, Assembly Building C
Cheese Lane
Bristol
BS2 0JJ
1
Nominated Trustee by PCC of Christ Church with St Ewen, All Saints and St
George
2
Co-opted Trustees
~~pp y~~
Mr P Westbury (appointed 25th January 2025)2
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 2024

The Trustees present their annual report together with the financial statements of the Charity for the 1 January 2024 to 31 December 2024. 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

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 2024

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 income from the investment properties has increased from the prior year.

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 £2,171,927 (2023: £2,168,035) and unrestricted funds of £266,280 (2023: £284,771).

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 2024

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.

Financial review

a. Financial performance

Total income for the year amounted to £156,920 (2023: £148,405), and total expenditure amounted to £201,860 (2023: £475,506), leaving a net deficit, before revaluations and investment gains, of £44,940 (2023: £327,101). Revaluation and investment gains amounted to £30,341 (2023: £67,998).

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 2024

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 eight 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 eight 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 2024

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:

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:

Name:

Date:

Page 6

ALL SAINTS CHURCH LANDS CHARITY

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2024

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 2024.

Respective responsibilities of trustees and examiner

The charity’s trustees are responsible for the preparation of the financial statements. The charity’s trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.

It is my responsibility to:

This report, including my statement, has been prepared for and only for the charity’s trustees as a body. 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 examination work, for this report, or for the statements I have made.

Basis of independent examiner’s report

My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the financial statements present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.

Basis of independent examiner’s report

In connection with my examination, which is complete, no matters have come to my attention which give me reasonable cause to believe that in any material respect:

Page 7

ALL SAINTS CHURCH LANDS CHARITY

INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

I have no concerns and have come across no other matters in connection with the examination to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached.

Signed:

Dated:

Jonathan Marchant FCA

Forvis Mazars LLP Chartered Accountants 8th Floor Assembly Building C Cheese Lane Bristol BS2 0JJ

Page 8

ALL SAINTS CHURCH LANDS CHARITY

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024

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 before net gains on
investments
Net gains on investments
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Unrestricted
funds
2024
£
2,850
42,114
111,956
156,920
44,656
145,821
190,477
(33,557)
15,066
(18,491)
284,771
(18,491)
266,280		 Endowment
funds
2024
£
-
-
-
-
-
11,383
11,383
(11,383)
15,275
3,892
2,168,035
3,892
2,171,927		 Total
funds
2024
£
2,850
42,114
111,956
156,920
44,656
157,204
201,860
(44,940)
30,341
(14,599)
2,452,806
(14,599)
2,438,207		 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

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 2024

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		 20,207
173,381
152,439
346,027
(82,188)		 2024
£
416,295
778,073
980,000
2,174,368
263,839
2,438,207
2,438,207
2,171,927
266,280
2,438,207		 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

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

Name:

Date:

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 2024

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.

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 2023.

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 2024

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 2024

2. Accounting policies (continued)

2.7 Tangible fixed assets and depreciation

All Saints House was valued by Alder King on 31 December 2018 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 2018 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 2025.

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 2024

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
2024 2024
£ £
Other incoming resources 2,850 2,850

Page 14

ALL SAINTS CHURCH LANDS CHARITY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

3. Income from donations and legacies (continued)

Unrestricted Total
funds funds
2023 2023
£ £
Other incoming resources 2,110 2,110

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
2024
£
42,114
Unrestricted
funds
2023
£
42,969
2024
£
29,892
12,222
42,114		 Total
funds
2024
£
42,114
Total
funds
2023
£
42,969
2023
£
38,970
3,999
42,969

Page 15

ALL SAINTS CHURCH LANDS CHARITY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

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
2024
£
81,921
19,844
10,191
111,956
Unrestricted
funds
2023
£
72,782
19,435
11,109
103,326
2024
£
-
33,833
13,000
26,670
73,503
8,418
81,921		 Total
funds
2024
£
81,921
19,844
10,191
111,956
Total
funds
2023
£
72,782
19,435
11,109
103,326
2023
£
-
25,000
13,000
24,384
62,384
10,398
72,782

Page 16

ALL SAINTS CHURCH LANDS CHARITY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

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
2024
£
581
33,077
2,010
8,988
44,656
Unrestricted
funds
2023
£
(101)
6,601
1,530
31,692
39,722		 Total
funds
2024
£
581
33,077
2,010
8,988
44,656
Total
funds
2023
£
(101)
6,601
1,530
31,692
39,722

7. Analysis of grants

All Saints Church repairs and insurance
All Saints & City Churches Society of Bell Ringers
All Saints House Residents		 Grants to
Institutions
2024
£
649
243
-
892		 Grants to
Individuals
2024
£
-
-
368
368		 Total
funds
2024
£
649
243
368
1,260

Page 17

ALL SAINTS CHURCH LANDS CHARITY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

7. Analysis of grants (continued)

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

8. All Saints House Property Costs

Council tax
Water and sewerage rates
Repairs and maintenance
Cleaning and caretaking
Insurance
Heating, lighting, telephone and television
Sundry expenses
National Almshouse Association
Legal and Professional fees
Stationery/postage
Travel
Subscriptions
Leases
Wages and salaries
Pension cost
Depreciation		 2024
£
1,950
8,642
12,756
8,016
15,516
5,683
3,493
4
2,833
1,176
51
896
25,018
16,890
1,689
12,197
116,810		 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

Page 18

ALL SAINTS CHURCH LANDS CHARITY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

9. Governance Costs

Independent Examiner and Accountancy Fees
Glebe House cleaning
Glebe House repairs
Glebe House utilities
Bank charges
Governance PPS
Clerk's salary costs
Clerk's pension costs		 2024
£
5,274
4,705
4,102
11,161
294
422
12,053
1,123
39,134		 2023
£
5,028
4,482
1,813
13,415
291
982
9,895
989
36,895

10. Independent examiner's remuneration

The independent examiner's remuneration amounts to an independent examiner fee of £5,028 (2023 - £4,794).

11. Staff costs

Wages and salaries
Contribution to defined contribution pension schemes		 2024
£
28,943
2,812
31,755		 2023
£
24,737
2,473
27,210

The average number of persons employed by the Charity during the year was as follows:

2024 2023
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 2024

12. Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2023 - £NIL).

During the year ended 31 December 2024, no Trustee expenses have been incurred (2023 - £NIL).

13. Tangible fixed assets

Cost or valuation
At 1 January 2024
At 31 December 2024
Depreciation
At 1 January 2024
Charge for the year
At 31 December 2024
Net book value
At 31 December 2024
At 31 December 2023		 Freehold
property
£
569,135
569,135
143,898
11,383
155,281
413,854
425,237		 Fixtures and
fittings
£
47,023
47,023
43,768
814
44,582
2,441
3,255		 Total
£
616,158
616,158
187,666
12,197
199,863
416,295
428,492

Page 20

ALL SAINTS CHURCH LANDS CHARITY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

14. Investment property

Valuation
At 1 January 2024
At 31 December 2024		 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 2025.

Comprising

56 Corn Street, Bristol
58 Corn Street, Bristol
46 High Street, Bristol		 2024
£
310,000
410,000
260,000		 2023
£
310,000
410,000
260,000
980,000
980,000

Page 21

ALL SAINTS CHURCH LANDS CHARITY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

15. Fixed asset investments

Cost or valuation
At 1 January 2024
Revaluations
At 31 December 2024
Net book value
At 31 December 2024
At 31 December 2023
Investments at market value comprise:		 Listed
investments
£
762,798
15,275
778,073
778,073
762,798
Listed investments
All the fixed asset investments are held in the UK.
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		 2024
£
778,073
778,073
2024
£
681,653
71,920
14,812
9,688
778,073		 2023
£
762,798
762,798
2023
£
666,400
71,920
14,436
10,042
762,798

Page 22

ALL SAINTS CHURCH LANDS CHARITY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

16. Debtors

Due within one year
Other debtors
Prepayments and accrued income		 2024
£
4,505
15,702
20,207		 2023
£
6,628
20,601
27,229

17. Current asset investments

2024 2023
£ £
Almshouse Investments 173,381 185,015

National Association of Almshouses Common Investment Fund Shares

722.789 (2023: 710.639) for All Saints House Extraordinary Repair Fund
709.265 (2023: 940.063) for All Saints House Cyclical Maintenance Fund
Value at 1 January
Invested
Disposals
Revaluation gain/(loss)
Value at 31 December
Historical cost		 2024
£
87,509
85,872
173,381
2024
£
185,015
3,300
15,066
173,381
(30,000)
£
50,695
2024		 2023
£
79,650
105,365
185,015
2023
£
170,992
3,300
10,723
-
185,015
£
77,395
2023

Page 23

ALL SAINTS CHURCH LANDS CHARITY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

18. Creditors: Amounts falling due within one year

Trade creditors
Other taxation and social security
Other creditors
Accruals and deferred income		 2024
£
56,000
110
20,804
5,274
82,188		 2023
£
56,000
-
12,723
5,028
73,751

19. Financial instruments

2024 2023
£ £
Financial assets
Financial assets measured at fair value through income and expenditure 325,820 328,038

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 2024

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
2024
£
79,650
105,365
137,960
(13,203)
(25,001)
284,771
1,742,798
425,237
2,168,035
2,452,806		 Income
£
-
-
-
8,192
148,728
156,920
-
-
-
156,920		 Expenditure
£
-
-
-
-
(190,477)
(190,477)
-
(11,383)
(11,383)
(201,860)		 Transfers
in/out
£
1,400
1,900
-
-
(3,300)
-
-
-
-
-		 Gains/
(Losses)
£
6,459
8,607
-
-
-
15,066
15,275
-
15,275
30,341		 Balance at
31
December
2024
£
87,509
115,872
137,960
(5,011)
(70,050)
266,280
1,758,073
413,854
2,171,927
2,438,207

Page 25

ALL SAINTS CHURCH LANDS CHARITY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

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
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

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 2024

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
2024
£
284,771
2,168,035
2,452,806		 Income
£
156,920
-
156,920		 Expenditure
£
(190,477)
(11,383)
(201,860)		 Transfers
in/out
£
-
-
-		 Gains/
(Losses)
£
15,066
15,275
30,341		 Balance at
31
December
2024
£
266,280
2,171,927
2,438,207

Summary of funds - prior 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

Page 27

ALL SAINTS CHURCH LANDS CHARITY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

22. Analysis of net assets between funds

Analysis of net assets between funds - current period

Tangible fixed assets
Fixed asset investments
Investment property
Current assets
Creditors due within one year
Total		 Unrestricted
funds
2024
£
2,441
-
-
346,027
(82,188)
266,280		 Endowment
funds
2024
£
413,854
778,073
980,000
-
-
2,171,927		 Total
funds
2024
£
416,295
778,073
980,000
346,027
(82,188)
2,438,207

Analysis of net assets between funds - prior period

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

23. Operating lease commitments

At 31 December 2024 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		 2024
£
24,673
44,751
46,478
115,902		 2023
£
24,673
56,225
71,151
152,049

Page 28

ALL SAINTS CHURCH LANDS CHARITY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

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 2024.

Page 29