PHILLIPS FRITH EST 1926 Counting beans since 1926 THE CHURCH CHARITY OF JOHN ARUNDELL I￿OWN AS: ST DENYS CHURCH CHARITY OF JOHN ARUNDELL ACCOUNTS YEAR ENDED 31 DECEMBER 2024 Phillips Frith LLP 9 Tregtsrne Terroce, St Au51ell, Cornwoll PL25 4DD T 01726 75981 F 01726 67489 011@phillipslriih.com www.phillipsfrilh.com Chortered A¢countonts ond %egi$t&red Auditors A limitd liabil￿V pllthership re9lStered in Enghnd & Wofes No. OC344396. Regislered Omice.. 9 Tregome Tetrace StAustdl Comwull PQ5 4DD INDEPENDEwf EXAMINER'S REPORT TO THE TRUSTEES OF THE CHURCH CHAIUTY OF JOHN ARUNDELL I report to the trustees on my exaTnination of the accounts of the The Church Charity of John AThndell (the Trust) for the year ended 31 December 2024, which are set out on pages 4 to 7. This report is made solely co the charitys trustees, as a body, in accordance with secuon 154 of the Charities Act 2011. My independent examiner's work has been undertaken so that I might state co the charitys t￿￿teeS those rnatters l am required to state to them in an independent exarninerfs repon and for no orher puo)ose. To the fullest exteni pertnitted by law, I do not accept or assume responsibility to anyone other than the charity, the chariWs rnetnber5 a5 a body and the charitys trustees as a body for my independent eXa￿lner'S work, for this report. or for the opinions I have fomied. Responsibilities and basis of report As the charÈtys 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 repott in respect of my examination of the Trust's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Direcuons given by the Charity Commission under section 145{5)(b) of the Act. Independent examiner's statement I have completed my examination. I confirni that no material matters have come to my attention in connettion with the examination which gives me cause to believe that in, any materiaL respect.. accounting records were not kept in accordance with secllon 130 of the Act or 2. the accounts do not accord with those records I have no concerns and have come across no other matters in connettion with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached. Date: .. lan William Chalmers FCA 9 Tregarne Terrace ST AUSTELL Cornwall PL25 4DD THE CHURCH CHAIUTY OF JOHN ARUNDELL KNOWN AS: ST DENYS CHURCH CHAIUTY OF JOHN ARUNDELL TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The trustees present their reporr and accounts for the year ended 31 December 2024. OBJECTIVES, ACTtVlTIES AND ACHIEVEMENTS The objectives and activities of the charity are to provide For the upkeep and repair of the Parish Church and Burial Ground of The Ecclesiastical Parish of St Dennis {St Denys), Cornwall and the maintenance of the seTvices therein. The chariry also promotes the religtous and other charitable work of the Church OF England in the Parish OF St Dennis and to provide for matters incidental to these purposes. The principal policy of the charity is to maintain or grow its income stream through the letting of property andior invesnnents in order to meet its objectives. and to increase the capital value of its properry. The Trustees have reviewed their objectives, policies and activities to ensure they continue to reflect the ChariWs aims. In carrying out this review they have considered the Charity Commission's revised general guidance on public benefit. STATUS OF CHAIUTY The chariry, which is commonly known as the ATundell Trust, is governed by rhe Scherne of the Charity Commissioners dated 23 April 1998. The charity number is 234290. STRUCTURE OF CHARITY The charity is run by a board of crustees and during the year these were as follows: EK-officio Rev C G McQuillen-Wright - the Incurnbent of the present benefice of St Dennis - appointed 5 November 2024 J Offord (Secretary) - Churchwarden of the Ecclesiastical Parish of St Dennis S G Bradbury- Churchwarden of the Ecclesiastical Parish of St Dennis - appointed 3 April 2024 Co-opted A J Martin DGMay K B Yates ALGriffin The right to nominare and appoint co-opted Trustees rests with the Trustees themselves. In accordance with the current Schetne, every new co-opted Trustee is appointed for a tenn of 5 years. Officers There were no executive officers of the Trust during the year. The Trust maintains a list of approved contractors/suppliers, which is reviewed as necessary. Principal Office Clo The Secretary Rossland St Dennis St Austell PL26 8BB Tel: 01726 824813 THE CHURCH CHARITY OF JOHN ARUNDELL KNOWN AS: ST DENYS CHURCH CHARITY OF JOHN ARUNDELL TRUSTEES REPORT continued FOR THE YEAR ENDED 31 DECEMBER 2024 Bankers Lloyds Bank plc, Unit 14, White River Shopping Centre, St Austell, Cornwall, PL25 5AZ. Independent Examiner Phillips Frith LLP, 9 Tregame Terrace, St Austell. Cornwall. PL25 4DD. Investment Powers The investrnent powers of the Ch￿]ry are governed by the Trustee Investments Act 1961. Solicitor Stephens Scown, Osprey House, Malpas Road. Tntro, Cornwall. TRI iur. TRUSTEES, REVIEW To achieve the objects of the charity, the aim of the Trustees is continually to improve the quality of its property, and thereby perpetuate a long-terrn income stream from appreciaung assets. However, the Trustees consider that rent levels should be consistent with the Christian values of the Church and remain competitive for the area. Occupation of the propetties remained high at the year end. The sale of the Old School Building to ClayTAWC Ltd was completed in August 2024. For the purposes of calculating the 25 1 net income payable to the St Dennis Educational Trust and providing a smooth flow of funds. it has been agreed with the Independent ExaTniner ro write off asset expenditure over 20 years (see Note to the Accounts). The arnount payable during 2025 For 2024 shows an amount of £10,578 that is providing ongoing significant benefits for young people in the Parish. Recruitrnent of new Trustees is by word of mouth, based on local knowledge and skills required to matntain a broad expertise. Induction is by way of a srandard inforniarion pack including Trust Scheme, Accounts. Minutes and direction to the relevant documents on the Charity Commission website. RISK. RESERVES AND INVESTMENTS The charitys investment policy is to maintain no risk deposits for mediurn and short tern needs. Invesl]nent opponunities continued to be explored. The current account remains with Uoyds Bank. This reflecrs the potential for SI￿￿cant unbudgeted expenditure relating to either the Church and/or its residential properties. Long-term investment is by way of C.O.l.F. or Chariftmd income shares. The Trusfs reserve policy is to maintain sufficient reserves to cover major expenditure on either the Church or its residential properties. The Trust remains in a healthy financial position. There was an excess of income over expenditure of £164,944 in the year. Investtnent returns show some improvernent. The risk profile remains unchanged, and the Trust is confident that the measures taken to minimise them will lead to continuing financial and operating stability. BY ORDER OF THE BOARD Mr J Offor Trustee and Secretary THE CHURCH CHARITY OF JOHN ARUNDELL KNOWN AS: ST DENYS CHURCH CHARITY OF JOHN ARUNDELL RECEIIryS AND PAYMEr￿S ACCOUNT FOR THE YEAR ENDED 3 1 DECEMBER 2024 UNRESTRICTED FUNDS 2024 2023 RECEiiyrs Investment dividends Bank deposit interest Dwelling rents 4,298 9,234 56,423 4,224 4,949 55,079 69,955 64,252 ASSET AND INVESTMENT SALES Sale OF Old School Building, Fore Street, St Dennis (net) 147,751 TOTAL RECEIPTS 217,706 64,252 PAYMENTS Cost of management and admlnistration: Accountancy Administration cosrs Legal and profe55ional fees Professional liability insurance Maintenance and other costs of properties: General maintenance/repairs Insurance Legal and professional fees Rates and water light and heat 435 405 120 573 412 573 22,811 3,105 3,939 2,608 27,044 7,937 Direct charitable expenditure: St Dennis Educational Trust Church expenditure: General church rnaintenance Light and heat Accountancy Printing, stationery and magazine expenses Insurance Legal and professional fees 13.929 8.933 5,990 2,692 435 220 2,452 1,657 2.854 405 67 2,356 550 25,718 16.822 TOTAL PAYMENTS 52,762 NET RECEIPTS FOR THE YEAR 164,944 39,493 Cash funds at 31 December 2023 236.734 197.241 CASH FUIWS AT 31 DECEMBER 2024 401,678 236,734 THE CHURCH CHARITY OF JOHN ARUNDELL I(NOWN AS: ST DENYS CHURCH CHARITY OF JOHN ARUNDELL STATEMENT OF ASSETS AND LIABILITIES 31 DECEMBER 2024 202 2023 MONETARY ASSETS Cash ￿llds: Uoyds Bank plc current account Lloyds Bank plc savings account Lloyds Bank plc Fixed Term Bond Lloyds Bank plc Fixed Terni Bond Redwood Bank Fixed Tenn Bond Harnpshire Trust Bank Fixed Terni Bond Carnbridge & Couniies Bank Fixed Rate Bond Dudley Building Society savin85 account Redwood Bank sairings account 9,289 27,306 It,500 15,000 12,583 85,000 85,000 85.000 65,000 8,314 13,010 17,50 12,000 12,000 85,000 88,910 TOTAL CASH FUNDS 401,678 236,734 INVESTMENT ASSETS Cost Market Value Shareholdings: 2787.07 C.O.l.F. Charities Invesnnent Fund incorne units 13747.30 C.O.l.F. Charities Ethical Investment Fund Incorne units 16729.15 C.O.l.F. Charities Global Equiry Income Fund income units 446.205 M & G Charifund Equities Investment Fund Income units 33,015 35,000 35,000 7,027 56,559 42,515 49,304 6,570 Properties: a) 4 and 6 Fore Street, St Dennis, P￿6 8AF Two serni-detached houses built circa 1850 and each split into two flats. In good structurdl and decorative repair. Combined insured value is £1,105,943. b) 8 Fore Street, St Dennis. PL26 8AF Detached property built circa 1850 and completely renovated into 2 flats in 2003. Insured value is £516,107. e) l Trelavour Prazey, St Dennis, P126 8BP End of te￿ace house built circa 1850 and in good structural and decorative repair. Insured value is £327,499. dl 2 Trelavour Prazey. St Dennis, PL26 8BP Mid terrace house built circa 1850 and in good structural and decorative repair. Insured value is É258,912. e) 3 Trelavour Prazey. St Dennis, P126 8BP Mid terrace house built circa 1850 and in good structural and decorative repair. Insured value is £255.481. Land at HilI Top, Trelavour Road, St Dennis One acre of land suitable for grazing. The estimated n￿rket value as grazing is £1.500. THE CHURCH CHARITY OF JOHN ARUNDELL KNOWN AS." ST DENYS CHURCH CHAIUTY OF JOHN ARUNDELL STATEMENf OF ASSETS AND LIABILITIES continued 31 DECEMBER 2024 2024 2023 LIABILITIES - CURRENT St Dennis Educational Trust 10,578 13,929 The accounts were approved by the trustees on .. iA.Io.¢i.. and signed on their behalf by: MrA Martin Treasurer THE CHURCH CHAIUTY OF JOHN ARUNDELL I