HOLY TRINITY CHURCH ESTATE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2026
HOLY TRINITY CHURCH ESTATE CONTENTS Page Charlty Infomiatlon Footte. Roport Independent Examlnefs Report StatOlTlOnt of Flnanclal Aetlvltlo• Balance Shoot Notss to the Flnanclal Statemonts
HOLY TRINITY CHURCH ESTATE CHARrrY INFORMATION CHARITY NAME: Coventy Holy Trinity ChLsr¢h Eslate Charity CHARITY NUMBER.. 242056 FEOFFEES: Mr Wlliam Johnson Mr Peter Griffiths Prof Simon Brake Mr Paul Doggett Mr Christopher Howard Rev Richard Hibbert Mr Nehemiah Akinye18 Mr Andrew Selwyn Ms Jennifer Williams (Appointed 06 October 2024) Mrs Susan Wilcox (Died 14 May 2025} VESTRYMEN: Mrs Jean Howard Prof Wilfnd Kendall Miss Amn Russell (Treasurer) Mrs Catherine Kendall Mr James Sampson-Fostar (Resigned 24 June 20251 Dr Aison Jackson (Died 31 March 20251 PRINCIPAL OFFICE.. Hoty Trinity Church 5A Priory Row Coventry CV15EX INDEPENDENT EXAMINER: Geoffrey Cox BA FCA Dafferns Audit Limited Chartered AOuntantS and Ststutory ALthJllors One EasoOd Harry Weston Road Binley Business Park Coventry CV3 2UB SOLICITORS.. Rolherham & Co 8 & 9 The Quadrant Coventry CV12EG BANKERS.. HSBC Pt 5-6 High Street Coventry CV15RE CCLA PO Box 12892 Dunmow Essex CM6 9DL INVESTMENT MANAGERS: Quilter Cheviot Provincial House 37 New Walk Leicester LE16TU Page 1
HOLY TRINITY CHURCH ESTATE FEOFFEES REPORT for the yoai ended 30 April 2025 The Feoffees present their report and financial statements for the year ended 30 April 2025. The financial statements have been prepared in accordance with the accounting poliaes sel out in note 1 to the accounts and comply with the Charities Act 2011 and Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicab in the UK and Republic of Ireland published in October 2019. H18tory, Objoctives and Activities for the public benefit All decisions of th Charity are taken by the Vestrymen of the Church bein9 the Vicar for the lime being and all present and past Church Wardens of the Church. Of this number the Vicar and present Church Wardens ex offi¢io and certain other Vestrymen specifically appointed by Trust Deed as such are the acting Feoffees (Trustees) in whom the Charity property is vested. The Vestrymen by resolution decide from time lo lime who shoutd be appointed additional Feoffees from their number and current Feoffees confirm the appointrnenl by Deed. The propety is then vested in all the Feoffees. The Feoffees h8ve no evid&nce as lo when and how the Charity came Into existence but it is believed lo have been created shortly after the Oissolution of the Monasteries in 1 $39 when Holy Trinity Church (which had been attached to the "dissolved" adiacenl Benedictinè Cathedral Abbey of Sl. Mary's) obtained independence. There is likewise no evidence of the existence of any original Trust Deed and there may well have been none. However, the Charity is believed to have existed in it5 basic present form since that early date. The Deeds of Appointment and the Annu81 Accounts confirm that the Charity has pursued ils proper objects whtch il continues lo apply. Those objects are to maintain the upkeep of the Church building of Holy Trinity Coventry and associated properties forming the endowment of th& Trust and for defraying payments for the services in the church. The Feoffees confirm that they have referred lo the guidance contained in the Charity Commission's general guidance on public benefit when reVwing the Charity's aims and objectives and in planning future aclivilies. Management and Governance Arfangom•nt8 The Feoffees have examined the major strategic, business and operational risks which the Charity faces and confirm th81 systems have been established lo enable regular reports to be produced so that the necessary steps can be taken lo lessen these risks. Achlevements and Perfofmaneè Fla14T Walk Our tenant has left Flat 4 and the bedrts)m accommodation has been offered to our new Youth and Children officer. Quotations are being obtained for the replacement of the kitchen and bathroom. an ro The main part of the organ design and pricing is complete, though prices a still needed for a number of peripheral items. When the full cost is established, an approach will be made lo the Diocesan Advisory Committee IOACI in advance of a faculty application. Screens I We$ En Pro ect Our architect has produced a comprehensive drawing detailing all aspects of the project. including screen fixing details. This infomialion has been passed to the DAC for their eady comments. Novum has conducted a successful trial. lo show the effect of direct sunlight on a large screen. South side r¢xJf re airs Temporary repairs have been carried out to the South side lead rwts. These repairs will hopefully remove the urgency from the proposed major roof repair project. at Allesle There has been a lack of response from Philip Cowen at Godfrey Payton regarding non-payment of rent and updates on the sale of the land. A meeting will be arranged with Philip and he will perhaps be invited lo our October meetr'ng. Pag8 2
HOLY TRINtrY CHURCH ESTATE FEOFFEES REPORT {conÈirbu•d) for tho year end 30 Aprl 2025 A part llm8.bo¢k6ep 1h aulhorlty to oryan188 cffilSng payments will be eppdnt¢d to OSSi8t our Tre88uwr. A diocesan fundèd energy survèy h88 made a numbor of rn¢ommendats'ort8 for thè Church building and quotstions for dr8ught proofing and plpowork Insulatlon awalt•d. Fundir4J 18 •vailat48 for the tsnatgy 8avlryJ me88ur8S. Feoffe88 aro Holy Trinlty churchward¢n8 past snd prèstrnt. As such, th8 IndIdU815 ¢(Cerned wll hav• nlmbw of years axp8rl8nc8 of church management. Ounting practices And administralon ol a large clty centro thurch. This IS BS W811 &8 any per80nal èxperlence and developmanl they h8ve recèw8d in putrAic swvlca or Indugty. A6 ¢huichwarden6. thgy wlll have submltted Ihomsdves to election ar1nud by Ihtt Parf8h 5- 6 y6ar8 and 11 hove wthed As A group of fr)iJr w8r(Jens. alL)g wth the p8rt8h dergy and treasurer, as the 'Senior MonogemeDt' of thè par18h In al matt¢rs-, and th worked In ¢ottjundon wrth thé Parochiol Church Coundl IPCCI on tho Impl8m8ntalion of prJKy and funning of parlsh and bts a884ts. On first appointmoni 8$ ward•n t wll hBv• 8ceeg3 to the ArChden,5 Sntri4lu¢iory tra4ning evènkng and a hlgh level of m•ntorlng Irom exi61ing w8rdgr. Flnanclal r•vl•w •nd r•••Thi•• During th8 year Èho Charty had net Ios8 of £3,90612024- Profit 01 £11,13818ft&r oyp8ng•8 of £57.57012024 £36,406). Reallsedlunrè&llsad galn8 of £14,602 ro8ult8d Sn a net 1Ma8¥ In fund8 of £10,696 12024 Incregs& of £20,004). Totsl unr88tr1ctad fund8 brought foMard w6ra £94,390 and £90,484 Is carried IoM8rd after ac¢ounting for Ih bove tran88.08. Thé fund8 Are wuired to m•81 tha Ch8rity's mMitManiS aThJ plannÈd èxp8nditure. Tho Feoffeès considar th8 fin8nrJAI posllk>n at the year end Its bo 88Uslactory that the fund8 ar& &Lrfft lo mogt currant obllgati FEOFFEES RESPONSIBILMES IN RELAIION TO THE FIIIANCIAL STATEME14TS The low app[ue to charhles In Eand and Wales rnqulr•s the Fffee& lo prapsre financlql 8t•t•monts frr èoch fin8nco1 yew whleh give a true and fair vw of th8 Cherily's finAncld 8th11es dudng Ihè year and ol ils pogrtion al Ihg end of the year. In pmparlw fy)81 stalemts. giving a Ime and lar vw. tho Feoffeey shodd b8St pr8ctk£ and.. aele¢l 8uitobb vKcountlng pcllcle8 8nd Ihèn apptyth&n 0)nStanty. obseNe the mothocl8 and prlncltth of the cha89 SORP., moke Ijg8mnt8 8nd Sstimatas that 8re regsonaL40 and pyudenl., sIBle wh8th•r 8pplicatAe accouniirva siandords and 8taLemant8 of recommended w8ciSc¢ have bn Idlowed. subject to any m8tg1i¥l dephrtureB dL5¢bseil and explalned In Ihg linond81 statem8nl8', and prepar8 the finanrJ81 stslemanls on Lh8 gdng basB it Is Inapk¥opriate to pr6sunk that ChaY 11 c(ffllhue its aclivil•. Fff88S are res$1b10 fof keej proper accounting recLwds, which disd Mth re830nAe accurw at 8ny lime, the finAncial postion of the Ch8rity 8nd whlch en8blÈ thém to en6ure that the fanCia statemènts comrly wlh thè Charits'es Act 2011, Ihg Charity (Accounts and Rowrtsl RegLI8onI And th• provlsDns of th• Trust Deed. Tè)ey hav8 g8n8r81 SponsIbl1ty tr tskinq suth steps as are rea5(ablY open lo them to safeguard aÈsèts ol the ChÈrity and to pravont gnd deledfraud and other Vreg£tieS. AppToved8nd 8lk¥)ed on behaw of Fffe&S Dated: B Oclobef 2025 Pag* 3
HOLY TRINITY CHURCH ESTATE INDEPENDENT EXAMINER'S REPORT TO THE FEOFFEES OF HOLY TRINITY CHURCH ESTATE I report on the aecounts of the Charity for the year ended 30 April 2025 which are sel out on page$ 5 to 11. Respectivo resF>onsibilities of feoffees and examiner The Chanty's Feoffees are responsible for the prepaialion of the accounts. The Charity's Feoffees consh8er that an audit is not required for this year under sects'on 144121 of the Charities Act 2011 and that an independent examination is neaed. 11 is my resporvsibility to.. examine the accounts under seclion 145 of the 2011 Act", follow the pr(xedures laid down in the General Directions gNen by the Charity CommissKJners (under Section 14515llbl of the 2011 Actl., and state whether particuLgr matters have come to my attention. Ba818 of independent 8xamln8rf8 report My examination was Carried out in accordance with the General Direcb'ons given by th8 Charity Commission. An exarninatn includes a review of the acLounling records kept by the Charity and a comparison of the accounts presented with those records, 11 also includes consideral¥)n of any unusual (iems or disc105ure$ in the accounts, and seeking explanations from you as Feoffees concerning such matters. The procedu undertaken do not provide 811 the evKlence that would be required in an audit, and consequently no opinion i¥ given as to whether the accounts present a 'true and fair view" and the report is limited to those matters Set out in the statement below. Independent examlnef8 •totement In connection wth my examination, no matter has come to my attention.. whh gives me reasonab cause to believe that in any material respect th8 requirements., to keep accountr'ng records in xcordance wrth section 130 of the 2011 Act., and to prepare a¢ounls which accord with the accounting records and lo compty with thè accounting requirements of the 2011 Act. hav& not been met,. or lo which, in my opinion, attentson should be drawn in order to enable a proFer understanding of the accounts to reached. G•offrfry Cox BA FCA Ilnslitule of Chartered Accountsnts in England and Wales} Dafferns Audit Limited Chartered Awountants and Statutory Auditors One EaSood Harry Weston Road Binley Business Park Coventry CV32UB Date. E Page 4
HOLY TRINITY CHURCH ESTATE STATEMENT OF FINANCIAL ACTIVITIES lor the yoar ended 30 Aprll 2025 Unrestrlcted Fund Capital Endowment Total 2025 Total 2024 Notes Income Rent 7,543 7.543 12,727 Dividend income 27,098 27,098 25,410 Irsveslmenl income 5,942 5.942 5,295 Other income 13,081 13,081 Grant income 4.202 53.664 S3.664 47,634 Expenditur• Costs of charitable activities 41.105 41,105 14,247 Costs of generating lunds (including governance) 16,465 16,460 22,249 57,570 67,570 36,496 N•t1oxpen808llln¢ome resourc 13,9061 13,906} 11,138 Net gains on investments 14,602 14,602 8,866 Not movem•nt In lund8 13,9C61 14,602 10.696 20,004 Fund balance brought forward 1 May 2024 94 390 1065,048 1,159438 1 139434 Fund balance carrl•d fonvard 30 April 2025 1079,650 1,170,134 1,159.438 The notes on pages 7 to 11 form part of these accounts Page 5
HOLY TR114fY CHURCH ESTATE BALANCE 8HEEr •• at Aprtl 2025 2025 2024 FIXED ASS3 T&Ibl0 fix&fl,a$8•t8 148,719 149.3 agtments 10 852 143 861.862 1,LIJO,862 1,010,925 CURRENT ASSETS Debtor8 11 4,948 1,850 Cash at bank 148 727 171.156 150,377 CREOITORS: Amounts falllng du wllhln one ye8f 12 MET CURRENT A88ETS 169272 NET ASS8 1 170134 1 159 438 cAprTAL ENDOWMENT 13 1,079,650 1,065.048 UNRESTrICTEO FUND 13 TOTAL FUNDS 13 1170 134 1 159 438 Apwoved by th• Bofjrd of F8offee8 on thl on Its b8hair ty C. Hlbb•rt Dale.. 8 Oetobar 2025 The r#)tss on 9$* 7 to 11 fcffli pwt of thgsè a¢¢wnts P•Je 6
HOLY TRINITY CHURCH ESTATE NOTES TO THE FINANCIAL STATEMENTS for the year ended 30 April 2025 ACCOUNTING POLICIES The following accountsng policies have been applied consistently in dealing with rtems which are considered material in felaliors lo the Charity's financpl stslements. Basls of preparatlon and a8sessment of golng concem Holy Trinity Church Estate is an unincorporated Charity in England and Wales. The address of the registered office is given in the Charity information on page 1 of these financial stalemenls. The nature of the Charity's operations and principal activities are lo apply the income of the Charity lo maintaining the upkeep of the church bLJilding of Holy Trinity Coventry and associated properties forming the endowment of the Trust and from defraying payments for the services in the chufch. The Charity constilules a public benefit entity as defined by FRS 102. The financial statements have been prepared in aGGordance with Accounting and Reporting by Charities." Statement of Recommended Pr8Ctie applicable lo charities preparing their aGGounls in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021. thè Charitses Act 2011, and UK Generally Accepted kcounling Practice The ffinancial 51alemenls have been prepared lo give a 'lrue and fair, view and have departed from the Charities (Accounts and Reports) Regulations 2008 only lo the exlenl required to provide a 'true and fair view,. This departure has involved followin9 the Accounting and Reporting by Charities.. Slalemenl of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reportin9 Standard applicable in the UK and Republic of Ireland IFRS 1021 issued in October 2019 rather than the Accounting and Reporting by Charities.. Stslemenl of Recommended Practice effective from 1 April 2005 which has since been withdrawn. The financial statements are prepared on a going conc8rn basis under the historical cost convention, modified lo include certain items at fair valua. The financial statements are presented in Pound Sterling l£} which is the functional currency of the Charity, rounded lo the nearest £. The signihcant accounting policies applied in the preparation of these financial slatemènls are sel out below. These policies have been consistently applied lo all years presented unless otherwise staled. bl Income recognltlon All incoming resources are included in the Statement of Financial Activities ISOFAI when the Charity is legally enlilled to the income after any performance conditions have been met, the amount can be measured reliably, and il is probable that the income will be received. Interest on funds held on dep051t is included upon notification of the interest paid or p8yable by the bank. Dividends are recognised once the dividend has been declared and nolificalion has been received of the dividend due. This is normally upon notification by our investment advisor of the dividend yield of the investment portfolio. Expendlture All expenditure is accounted for on an ac¢rua15 basis and has been classified under headings that aggregate all costs related lo the Category. Liabilities are recognised as expenditure as soon a5 there is a legal or constructive obligation commilling the Charity lo the expenditure, il is probable that settlement will be required, and the amount of the obligation Can be measured reliabty. dl Dlrect charitable expenditurp This is cOrded in the accounts when it is approved and if payable after the date of the accounts is inclu(Jed in creditors. Page 7
HOLY TRINITY CHURCH ESTATE NOTES TO THE FINANCIAL STATEMENTS (Gontlnuedl for the year ended 30 April 2025 Tangiblg Fixed Assets Tangible fixed assets are recogni$ed al c051 and 8ubsequenUy measured under the historical cost model being cost less accumulated depCiation and any accumulated impairment 105ses. Hislorieal cost includes any direct expenditure incurred to bring the asset to its current location and condition necessary for the asset lo work as intended by management. Depreciation is provided at the following annual rates in order lo write off the cost of each asset over ils esbmated useful lrfe.. Computer Equipment- 20uA reducing balance Leasehold Property - Over the period of the remaining lease f) Investmènt• Investments are recognised initially at fair value which is nomally the transaction price excluding transaction costs. Sub5equenlly, they are measured at fair value with changes r8cognisèd in 'net Ilossesllga1ns on Investments, in the Slalement of Financial Aclivib'es ISOFAI if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments ar8 measured at cost less impaimienl. g) Dobtors and creditors rec8lvablelpayable wlthln one year Debtors and creditors with no slated interest rale and feceivable or payable within one year are reccrded al transaction price. Any losses arising from impairment are r8cognis•d in expenditure. h) Fund8 These ar8 divided as follows.. end wment fun The fund comprises capital investments and propety transfèrred lo the Charity together with any gains related thereto. The policy of the Feoffees is to relain capital in an endowment fund in order lo generate inccme from which grants are made. Unrestricted fund The income fund represents investment and other income less expenditure and grants made. INVESTMENT INCOME 2025 2024 Interest received from inv8stmenls Bank interest received 706 5,236 5,295 5,942 5,295 OTHER INCOME 2026 2024 Insurance claims PCC reimbursement income 244 12,837 13,081 Page 8
HOLY TRINITY CHURCH ESTATE NOTES TO THE FINANCIAL STATEMENTS {continued) for the year ended 30 April 2025 COSTS OF CHARITABLE ACTIVITIES 2025 2024 Trinitas Insuranc8 St Peter's Grant Repairs and renewals.. Church repairs.. 7,023 120 10,711 120 Quinquonnial report Toilets Flower project Pipes and hopp8rs Roof repairs Internal alleralion5 Vestry storage refurbishments 1,200 1,172 72 972 28,976 2,076 2,544 366 14,247 All costs of charitable a¢livilies expendilure have been wholly allocated lo the unrestricted fund for the currènt and preceding year. COSTS OF GENERATING FUNDS Unre8trlctfjd fund 2025 Total 2024 Total Expenses of residences Accountancy Bank charges Slo¢kbrokers foe Depfecialion Surveys Professional fee8 6,717 1,685 60 6.153 344 6,717 1.685 60 6.153 344 6,502 1,742 61 5,681 344 7,481 438 1,508 1,506 16,465 In the prior year, all costs of generallng funds expenditure have been wholly allo¢aled to the unreslricled fund INDEPENDENT EXAMINERS REMUNERATION The independent examiners fee amounts to £1,685 {2024'. £1.7421. FEOFFEES. REMUNERATION AND EXPENSES No remunerats.on ditlY or indirectly out of the funds of the Charity was paid or payable for the current or previous year to any Feoffee or lo any person or person5 known to be connected with any of them. No 1MbUr5ernent of expenses has been made or is due to be made to any of the Feoffees in SPect of the year or the preceding year. EMPLOYEES The Charity had no employees during the year12024.. None). Page 9
HOLY TRINITY CHURCH ESTATE NOTES TO THE FINANCIAL STATEMENTS Icontinuedl for the year ended 30 April 2025 TANGIBLE FIXED ASSETS Freehold Property Lea89hold Property Total COST AI 30 April 2024 Additions Disposals 110.160 48,197 158,357 At 30 April 2025 110,160 158,357 DEPRECIATION At 30 April 2024 Charge for the year Eliminated on disposal 9,294 344 9,294 344 At 30 April 2025 9,638 NET BOOK VALUE At 30 Aprll 2025 110 160 148.719 AI 30 April 2024 110 160 149 063 The Feoffees do not consider that the cost of a profesSana1 valuation of the proportles is justified al this time, and they are therefore shown al cost bs$ depreciation where appropriate. Land at Allesley and Dove House Farm are included at £Nil value for the same reason as above. 10. FIXED ASSET INVESThIENTS Quotod Inv•$tments 2025 2024 Market value at 30 April 2024 Additions Disposal Realisedlunrealised gain5 861,862 59,987 184,3081 14,602 832,246 86,499 165,7491 8,866 Market value at 30 April 2025 852,143 861862 Histoncal cost 8130 April 2025 762 278 7S7 460 The following investments represent more than 5% of the portfolio. Market value Cost HSBC ETFS PIC Franklin Templeton Global Funds PIC 55.791 33.829 70.943 47,886 Page 10
HOLY TRINI CHURCH ESTATE NOTES TO THE FINANCIAL STATEMENTS {continuedl for the year ended 30 Aprll 2025 11. DEBTORS 2025 2024 Debtors Accrued income Prepayments 814 3,902 232 1,512 138 4,948 1,650 12. CREDITORS 2025 2024 Accruals 1,884 1,864 1,864 13. ANALYSIS OF NET ASSETS BETWEEN FUNDS Current yoar Endowment Fund Unr•8trlcted Fund Total Fixed assets Quoted investments Balances with QUier other current assets Current liabilities 148,719 852,143 27,689 51,099 148,719 852,143 27,689 143,467 11.8841 92,368 11.884) Fund balancA8 as al 30 April 2025 1,079,650 90,484 1,170 134 Prfor year Endowment Fund Unre8trlcted Fund Total Fixed assets Quoted investments Balan9 with Quilter Other current assets CUrnt liabilit8 149,063 861,862 10,971 43,152 149.C63 861,862 10,971 139,406 11,8641 96,254 11,8641 Fund balance as at 30 April 2024 1,065,048 94.390 1,159,438 14. RELATED PARTY TRANSACTIONS There were no related party transactions during the year12024.' £nill. There were no transaction5 With Feoffees other than those disclosed in note 6. Page11