Charlty number: 253387 CHRIST CHURCH LANDS CHARITY UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
CHRIST CHURCH LANDS CHARrrY CONTENTS Page R•forenc• and Admlnlstrntlve Deta115 of the Charfty, Its TnMteo$ and Advlsgr8 Tru•teos' Roport Independent Examln•fs Report statemonl ol Flnanclal A¢tlvltie5 Balance Shggt Note$ to the Flnancial Slat•ments 9-20
CHRIST CHURCH LANDS CHARITY REFERENCE AND ADMINISTRATNE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2024 Truste Mr J D R Price, Churchwarden1 Mr R C Metcalfe, Churchwardenl Mr A Griffiths2 Mr M Bracey2 Prof J R Kerridge, chai82 Mr R Hobbs3 Mr F Payne3 Ex-OffiGio Nomin?ted Trustse$ Cowopted Trustees Charfty reg18tsred numb•r 253387 Princlpal offlce 1 All Saints Court Bristol BS1 IJN Cbrk to lh• Trustegs Mr D Davies Independent Examlnor Jonathan Marchant, Forvis Mazar8 LLP Chartered Accountants go Victoria Street Bristol BS1 6DP Bank918 Natwest Bank PIC 32 Com Street Bristol BS99 7UG 8olicltorn Richard Gore Gregg Latchams Ltd 7 Queen Squar8 Bristol BS14JE Stockbrokers Investec Wealth & Investment Limited 2 Gresham Street London EC2V 7QN Prop•rty Advi$•rs Burgton Cook Associat8S Lewins House Lewins Mead BTiStol BS212NN Page 1
CHRIST CHURCH LANDS CHARrrY TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The Truste8s present their annual report together with the financial statements of Christ Church Lands Charity for the year 1 January 2024 to 31 December 2024. The Trustèes confimi that the Annual Report and financial statements of the Charity ¢omply with the current statutory requIrnents, the requirements of the Charivs governing document and the provisions of the Statement of Recommended Practice ISORPI, applicable to eharit18s preparing their accounts in accordance with the Financial Reporbng Standard appllcable in the UK an RepublK of Ireland (FRS 102}. Objo¢tivo$ and activiti a. Pollci05 and objecllvos The objects of the Charity are.. Firstly to support persons in the parish in need, hardship or dlstress and to support the Christ Church Exhibition Fund 13251241. The charity aims to providè help to transient persons living in the pansh through provision of fo¢xl, clothing etc. via the Community of the Sisters of the Church. Secondty to support Ihe parish of Christ Church in the City of Bristol by paying towards the stipend of the Curale and Ineumbent of the benefice, by paying Glergy or licensed lay workers to conduct services in the parish. for other religious or charitable work of the Chureh of Eng12nd in the parish or the Archdeaconry of Bristol. The ¢harity aims to support the clergy as$ociat&J with the parish in the provision of regular worship at Christ Church. Thirdty, for the repair, maintenance and insurance of the fabri¢ of Christ Church. The charity aims to ensure that funds are available to the Parochial ChurGh Council. The TNstee8' main objecthe for 2024 was to look after the propety and investmenis in the light of the purposes for which the Trust was established. The Trustses are confident that the insurance ¢over on the properties is sufficienL The Trustees have ntInued lo consider the market value of the properties and have performed a full revaluation In the year ended 31 Dernber 2024. In setting objtNeS and planning for activities, the Truste8$ have given due consideration to general guidance published by the Charity Commission lating to public benefit, including the guidance 'Public tenefiL running a charity {PB21'. Achlevomonts and porfo•n¢O a. Revlow of actlvlti The Trustees, main aim this year was to continue to make decisions placed before them based on their familiarity with the properb"e5 and investments. A proFerty sub-committee meets regularly to assist with this. b. Invoslmonl policy and p•rfornun¢• The investments held at the end of the year are as set out in the attached accounts. The funds aim at steady income and capitsl appreciation to provide long-tem protection from inflation. These objects are reviewgd annually with th8 stockbrokers. Page 2
CHRIST CHURCH LANDS CHARITY TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2024 Flnanclal rnvlew a. Flnanclal rnvl Totsl income for the year amounted to £168,606 12023.. £155,492} and totsl expenditure amounted to £194,735 (2023.. £131,230) leaving a net loss, before revaluations and investment gains, of £26,129 12023.. surplu8 of £24.262). Investment gains amounted to £314,77012023.' gains of £59,563}. b. Rosorv•$ poll¢y The Trustees are making an annual provision for the Church Fabric and for the repair5 to propertiOS. Total funds amounted to £3,033,897 12023.. £2.745,2561 of which £2,501,536 12023.. £2,186,766} related to end¢)wment funds, £532,361 12023.. £558,490) relatsd to restrfcled fvnds and £Nil (2023. £Nill related to the unrestricted and propety repair funds. c. Golng COnrn After making appropriate 8nquiries, the trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable Mlure. For this reason they continue to adopt the going ¢on¢em basis in preparing the financial statements. Further details regarding the adoption of the going conrn basis bo found in the Accounting Policies. Structur8J govemance and manag•m8nt a. Con8titutlon Christ Church Lands Charity is a regist8red charity, number 253387, and is constituted under a Trust deed. b. Mgthod8 of appointment or oloctlon of Tw8ts6s The Tnjstees of the Charity are app)inted in acrdance wrth the Charity Commission Scheme dated 15 September 2005 under Charity number 253387. c. 0rganl8atlonal slructurn and do¢18lonwmaklng pollcle8 The Trustees have SU[viSed the admini8tratlon of the Charity in accordance with the provisions of the Charty Commission Scheme, and applied the income in accordance with those provisions. In setting objectNes and planning for actNits'es, the Trustees have given due consideration to genèral guid2nc8 published by the Charity Commission relab'ng to public benefit, including the guidan¢e 'Public benefit.. njnning a Charity {PB2}'. The Trustees, Investment policy objectfves are to obtain th& maximum income by investing prudentty and ¢auliousty in a portrolio comprised of real propety. equities. fixed income stock and Sh. The portfolio is managed on a discretlonary basis by the appointed stockbroker¥ and professionally qualified property manager¥. The Trustees continue to retsin the freehold property which originalty fomied part of the endowm8nt where the net income (after costs of maintaining the property) justifies their retention. All decisions are made at full Tru$te85' meetings and carried oul on a day to day basis by the Clerk. Page 3
CHRIST CHURCH LANDS CHARTrY TRUSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2024 Structure. govornanca and management Icontinuedl d. Financial risk management The Trustees have examined the major strategic operational risk8 which the Charity may face an¢J will ensure that, to the exienl that they do not already exist, systems are established to enable regular reports to be prtxlu¢ed so that the necessary steps can be taken to minimise these risks. Plans for future perlods The Truslee8' aims for the futurg are lo continue to keep the prDperttes fully let and in a state of good repair, and are fully committed to ensuring that the provision$ of the Charity Commission Scheme of the 15 September 2005 continua lo be fulty met. Statement of Trust8es' re$ponsibiliti¢s Thé Trusloe$ are r8sponsible for preparing the Trustees. Report and the financial ¥t8lement$ in accordance with applicable law and United Kingdom A¢¢ounting Standard5 {Uniled Kingdom GeneralW Accepted Accounting Praclicel. The law applicable lo charities in England & Wales requires the Trustees lo prepare financial statements for each financial which give a true and fair view of the stsle cf affairs of the Charity and of rts incoming resources and application of resource$. including ils income and exFenditure, for that period. In preparing these financial statéments, thè Trustees are required lo.. select suitable accounting policies and then appty them consistently., observe the methods and principles of the Charities SORP (FRS 102}.' make judgments and accounting estimates that are reasonable and prudent., stste whether applicable UK Accounting Standard3 IFRS 1021 have been followed. subject to any material departures disclosed and explained in the financi91 statements., prepare the f1nancial stalemenl$ on Ihe going concern basis unless rt is inappropriate to presume that the Charity wll continue in business. The Trustees are responsible for keepin9 adequate accounting r8eords that ar8 Sufficnt to show and explain the Charity's transactions and disclos8 wf(h reasonable a¢¢ura¢y 81 any time the finan¢HI position of the Charity and enable them to ensure that the financial slalements comply wf(h the Charities Aet 2Q11, the Charty {Accounls and Rgportsl Regulations 2008 and th& provisions of the Trust deed. They are also responsible for safeguarding the assets of the Charity and hence for tsking reas¢Y)able steps for the prevention and detection of fraud and other irwularities. Approved by order of the members of the board of TN8lees and signed on their behalf by". J. K. K(nrtiO(< Date.. 7 LL qyi loTrS Pago 4
CHRIST CHURCH LANDS CHARITY INDEPENDENT EXAMINER'S REPORT FOR THEYEAR ENDED 31 DECEMBER 2024 Independont Examlnerfs Report to tho Trusteos of Christ Church Land• Charlty {'th• Charlty.) I report to the charity Trustees oll my examination of the accounts of the Charity for the year ended 31 Decembef 2024. Re¥pectlYe re8pon6lbllltlos of trusto9s and axamln8r The charity's trustaes are SpOnSible for the preparation of the financial statements. The charity's truslees consider that an audit is not requirgd for this year under section 144121 of the Charib'es Act 2011 (the 2011 Acti and Ihal an ind8pend8nt examinotson is needed. It 1$ my rosponsibility to.. - examine the finanaal statements under section 145 of the 2011 Act - follow the procedures laid down in the general Directions given by the Charity Commission under section 145{5) (bl of the 2011 Act.. and - state whether particular matters have come to my attention. Thls report, including my statement. has been prepared for and only for the ¢harity'$ trustees as a body. My Wofk has been undertaken so that I might stste to the charity's trustees those matters l am required to state to them in an indep8ndent examiners report and for no other purpose. To the fvllesl extent pomiitted by law, I do not accept or assume responsibility to anyone tslher than the charity and the charity's trustees as a body for My examination worK for this report. or for the statements I havo made. Ba$1$ of Indèp•ndgnt examlnerfs rnport My examination was carried out in accordan¢e with the genéral Directions given by the Charity Commission. An examination includes a revlew of the aoUntIng records kept by the charity and a comparison of the financial ststernents presented with those records. It also indudes ¢onsideralion of any unusual items or disclosures in the financial statements, and seeking explanab.ons from you as trustees conorning any such matters. The procedure5 undertaken do not provlde all the evidence th81 would be required in an audit and consequenlly no opinion is given as to whether the financial statem8nts present a 'true and fair view and the report is Ilmited to those matters set out irk the statement below. IndopondBnt examlnorf• stst•mgnt In connection with my examinatlon, which is ¢omplete. no matters have come to ry attention which give me reasonable use to believe that in any material re$pect'. accourbting records We not kept in respect of Christ Church Lands Chartty as required by secbon 130 of the 2011 Act,. or the accounts do not accord bwth Ihos8 records; or the accounts do not comply with the applicable requirements concerning the fom and content of accounts set out in the charib.es {Accounts and Reports) Regulats"ons 21)08 other than any requirement that the accounts gwe a 'true and fair view which is not a matter Mnsidered as part of an indépendent 8xamination. Page 5
CHRIST CHURCH LANDS CHARI INDEPENDENT EXAMINER'S REPORT {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 I have no conc8m$ and have com& across no other matters in ennnection with the examination to which attention should be dfawn in this report in order to enable a proper understsnding of the accounts to be reached. Si9ned'. Dated.. Jonathan Marthant FCA Forvis Mazars LLP 90 Victoria Street Bristol BS16DP Page 6
CHRIST CHURCH LANDS CHARITY STATEklENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024 Unrestrlcted fund8 2024 Restrict Endowment funds funds 2024 2024 Total funds 2024 Total funds 2023 Note Income and ondowments from: Investments 151.545 17,061 168,606 155.492 Total Income and •ndowmgnts 151,$45 17,061 168,606 155.492 ExndItUre on: Raising fvnds Direct charitable expenditure Governance costs Total exndItrg 137.718 137,718 43.190 79, 788 37,748 43,190 13,827 151,545 13,827 194,735 13,694 131.230 43,190 Not qexpondlturoVIDcorn• before net gain$ on Invgstm•nts Net gains on Investments 126,1291 (26,129) 24,262 314,770 314,770 59.563 Not movement In funds 126.129) 314,770 288.641 83,825 Reconclliation of fund$: Total fvnds brought fOard Nel movement Sn fvnds 558A90 (26,1291 2,186,766 314770 2,745,256 288,641 2,661,431 83,825 Total funds carri forward 532,361 2,501,536 3,033,897 2,745.256 The Statement of Finan¢ial Activiti9$ includes all gains and losses recognised In the year. The notes on pages 9 to 20 fomi part of Ihese financial statements. Page 7
CHRIST CHURCH LANDS CHARITY BALANCE SHEET FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 Fix9d ass•ts Investments Investment property 10 1.305.736 1,526.000 1.206,957 1,292.321 2.830.736 2,499,272 Current assets Debtors Cash at bank and in hand 11 59.038 172.748 63,535 208,208 231,786 271, 743 Creditors.. amounts falling due within one 12 128.6251 (25, 759) Net current assets 203,161 245984 Total assets less current Ilabllltlgs 3.033,897 2, 745.256 Totsl nat assets 3,033.897 2, 745,256 Charity funds Endowment funds Raslricted funds 13 13 2.501,536 532,361 2, 186, 766 558,490 Total fvnds 3,033,897 2, 745,256 The financial stalemenls were appro1 and authorised for issue by the Trustees and signed on their behalf by. J. n. Dale. ? kn f4 T4 The notes on pages 9 to 20 fonn part of these financial statements. Page 8
CHRIST CHURCH LANDS CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Gèneral InfoTmatlon Christ Church Lands Charty is an unincorporated charity registered with the Charity Commission in England & Wales, registered number 253387. The registered office is 1 All Saints Court, Bristol, BS11JN. Accountlng pollci 2.1 Basis of preparntion of financial ststements The financial statements have been prepared in aOrdan with the Charities SORP IFRS 1021 Accounting and Reporting by Char6ties.' Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applieable in the UK and Republic of Ireland {FRS 102) and the Charitle$ Act 2011. The financial statements have been prepared to give a'true and fai¢ view. Christ Church Lands Charity meets the definition of a public lneffit entity under FRS 102. Assets and liabiif(ies are initially recognised at historical cost or transaction value unless otherwise ststÈd in the relevant accounting policy. 2.2 Golng concorn After making approprlate enquiries, the trustees have a reasonable expectation that the Charity has adequate resources to continue in operabonal existence for the foreseeable fLrture. The Trustees are confident that they can manage expenditur8 to align with the income generated from investment returns. For this reason they continue to adopt the going ¢oncem basis in prèparing the financial statements. 2.3 Incomo All income is recognised once the Charity has entillement to the income. it is probable that the income will b8 received and the amount of in¢ome receivable Can measured reliably. 2A Expgndltur8 Expenditure is nised once there is a legal or constructtve obllgalion to transfer econornic benefit to a third party, it is probable that a transfer of economic benefits wll be Tequired in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. Direct charffable expenditu Included in thg Ststement of Finanrial Activities represents the amounts paid from the restrkted funds during the year. Gran15 paid are made In accordance with the Charity Commission Scheme. Gov8mance costs are those incurred in connection with administration of the Charty and compliance with constitutional and statutory rgquirements. Costs of generating fvnds are Investrnent management costs and those costs in¢urred in respect of maintaining. insuring and letts'ng the properties. Expenditure on raising funds includes all expenditure incurred by tho Charity to raise funds for its charitable purposes and includes costs of all fundraising activities events and nonrycharitable trading. Expenditure on charitable activities is incurred on directly undertaking the activities whi¢h further the Charitys objectives, as well as any associated support costs. Page g
CHRIST CHURCH LANDS CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accounllng poliGio (conllnued 2J Intorost leCONablo Interest on funds held on deposit is included when receivable and the amount can be measured reliabty by the Charity,. this is normally upon nots'fication of thé interest paid or payabla by the institution with whom the funds are deposited. 2.6 Taxatlon The Charity is 8 registered charity 8nd as such is not liable to taxation on the net income from it8 charitable actNities. Irrecoverable VAT Is charged against the &xp8nditure heading for which It was incurred. 2.7 Investments Fixed asset investments are a form of financial instrument and are inilialty recognised at their transaction cost and subsequently measured at fair value al the Balance Sheel date, unless the value cannot be measured reliably in Nthich case il is measured at cost less impaim)ent. Investment gains and 10$$8s, whether realised or unrealised, are combined and presanted as 'GainsllLossesl on investments, in the Ststement of Financial Activities. 2A Invtmpnt propertl8s Investment properties are induded in the Balan¢e Sheet at their open market value in acwrdance wth FRS 102 and are not depreciated. 2.9 Dobtor• Trade and other dfrbtors are recognised at thg settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 2.10 Cash at bank and in hand Cash at bank and in hand includes cash and short-term highty liquid investments with a short maturity of three months or18s$ from the date of a¢quisition or opening of the deposit or simiLqr accounL 2.11 Liabllltl•s and provlslons Liabilities are recognised when there is 8n obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit wll be required in settlemenL and the amount of the settlement can be estimated lIablY. Liabl1$ are recognised * the amount that the Charity anticipates it will pay to settle the debt or the amount it has recesvwj as advanced payments for the goods or services it must provide. Provisions are measured at the best èstimate of the amounts required to settle the oblsgation. Wh8re the effeGt of the ts.me value of money Is material, the provision is based on the present value of those amounts, discounted at the prevtax discount rate that reflects the Nsks specific to the liability. The unwinding of the dIU1 is CognISed in the Statement of Financial Activities as a finance 8t. Page 10
CHRIST CHURCH LANDS CHARrr NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting polIcS {contlnued) 2.12 Flnan¢lal In8trumonts The Charity only has financial assets and financial liabilities of a kind that qualify as ba$ic financkql instruments. 8asic financial instruments are initially recognised at transaction value and subsequendy measured at their settlement value wrth the exception of bank loans which are subsequendy measured at amorb'sad cost using the effectwe interest method. 2.13 Fund a¢countlng General fvnds are unrestricted funds which are available for use at the dixretlon of the Tn85 in furtherance of the general objectives of the Charty and which have not been designated for other purposes. Restricted fijnds are funds which are to be used in accordance wth specific restr(ctions imposed by donors or which havé been raised by th8 Charity for parti¢ular purposes. The costs of raising and administering such funds are chargad against the spwfic fund. The aim and use of each restricted fund is set out in the notes to the financial statements. Page11
CHRIST CHURCH LANDS CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Inv••tment Incom• Unrestrl¢tsd Restrlctod funds funds 2024 2024 T¢)tal funds 2024 Rents r8cervable Other investment income Int8re8t 115,824 35,326 395 10,701 2,946 3.414 126.525 38,272 3.809 151,545 17,061 168,606 Unrestrided funds 2023 R&strictgd funds 2023 Total fvnds 2023 Rents receivable Insurance premiums recovered Other invgstment income Interest 76,354 370 t6.433 325 43,433 270 17,003 1,304 119, 787 33,436 1.629 93,482 62,010 155.492 Invostm8nt management costs Unre•trlcted funds 2024 Total nds 2024 Propety expenses Insurance Legal and selling agents fees Investment managers. and valuation fees Bank char9es 101,287 17,143 11,246 7,960 82 101,287 17,143 11,246 7.960 82 137,718 137,718 Pago 12
CHRIST CHURCH LANDS CHARI NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Invostmont managem•nt ¢osts IntInued) Unrestricted fvnds 2023 Total funds 2023 Propety expenses Insurance Legal and selling 8gent5 fees Investsment managers, and valuation fees Bank charges 40.665 16. 712 14,975 7.327 109 40.665 16,712 14,975 7,327 109 79. 788 79, 788 Dlrèet charftable èxp•nditurn 2024 2023 Clause 21 {3)lal{il Communty of Sisters Exhibthon Fund 2113}la)lii) Clause 21 13llbllivl Clergy Fees Clause 2113}1¢) Chrfst Church PCC 6,500 12,775 5,500 11,168 4.412 16,668 19,275 43,190 37,748 Governan ¢08t8 2024 2023 Accounts preparation fee Office and administration co$t8 Independent examineff s fées Clerk's remuneration 3,353 57 2.617 7.800 3,255 98 2,541 7.800 13,827 13,694 Pag8 13
CHRIST CHURCH LANDS CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Indepondont oxaminorf8 r•munoratlon The Indepgndent examinerfs r8muneratsn amounts to an independent examiner fee of £2,617 (2023 - £2.541). and accounts Preparat fee of £3,35312023- £3,255). Staff costs Stsff o)sts were as follows.. 2024 2023 Wages and salaries 7,800 7,800 The average numb&r of persons employed by the Ch8TIty during the year was as follows.. 2024 No. 2023 No. Cl8rk No employee reGeived remunemkn'on amounting to more than £60.000 in either year. The Board considers that the key management personnel of the charity comprise the Trustee$. The Trustees all give freely of their time anrj expertise wthoul any forni of remuneration or other benefit in ash or kind, No reimbursement of expenditure was made to the trustees during the yeaT12023.' £nil). Page 14
CHRIST CHURCH LANDS CHARITY NOTes TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Investment propgrty Freehold invostment property Valualion At 1 January 2024 Surplus on revaluation 1,292,321 232,679 At 31 Decemter 2024 1.525,000 A revaluation of all investment properties was undertaken by Burston Cook, Chartered Surveyors, in June 2024. The Trustees do not consid8r that the market value of the propety is materially different from that of this valuab.on at the year end. Detail$ of the historical costs are not available. There are four propert$ all situated in Bristol in Ihe United lfjngdom. Investment propertles comprf80: 2024 2023 59 Broad Street 61 Broad Street 63 Broad Street 1 Mardyke Ferry Road 440.000 440,000 440,000 205.000 380,000 412.321 275,000 225,000 Total 1,525,000 1,292.321 Page 15
CHRIST CHURCH LANDS CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 10. FIX assgt investments Listèd InvoStment8 Cost or valuation At 1 January 2024 Additions Disposals RevaluatSons 1,206,951 198,262 (181 A38) 81,962 At 31 December 2024 1.305,736 Net book value At 31 December 2024 1,305.736 At 31 D8cemb8r2023 1.206,951 Inve51ments at mark•t value eomprlse: 2024 2023 Listed Investsments 1,305,736 1,206,951 All the fixed asset inve$tments are hgld in the UK. Materfal Investmonts 31 31 DKgmbBr DeGember 2023 2024 Charitles Propety Fund IshaS V PIC JP Morgan ETFS Vanguard Fund$ PIC S&P 500 94.736 66,002 70,554 70,736 95,048 73,813 32.613 302,1)48 201.474 Material investments are defined 88 thosg representsng >5% of th8 market value of investm8nts at thè year end. Page 16
CHRIST CHURCH LANDS CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 11. Dobtors 2024 2023 Due wfthln ono yoar Prepayments and accTued income 59.038 63.535 12. crltOrS. Amounts falling duo withln ono year 2024 2023 Other credrtors AcGTuais and deferred income 17.332 11,293 18, 132 7,627 28,626 25, 759 Page 17
CHRIST CHURCH LANDS CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 13. Statoment of funds Statement of fund8- ¢IDrrent year Balance at 31 Balan¢e at 1 January 2024 Transfers Inlout Gainsl December (Losso$1 2024 Incomo Expondliuré Unrnstrict¢d funds General funds Property repair fund 151,545 1146,S45) (s,000) (5,0001 5.000 151,$48 {161,S4S) Endowmont funds Reserve fvnd Accumulation fund 1,936,023 314895 2,250,918 280,743 11251 250.618 2,186.766 314,770 2,501,536 R•$trfctod funds Clergy fvnd Church Fabric fund Persons in Need & Exhibition fund 355,579 9,927 (4,6401 360,866 183,636 3,567 119.275) 167,928 19275 3,567 119,275> 3,567 558,490 17,061 143.190) 532,361 Total of fund8 2,745.256 168,606 1194,735) 314,770 3,033,897 Page18
CHRIST CHURCH LANDS CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 13. Statoment of funds {contInu) Statefflont ol fund8 - prior year Balarjce at Balance al l January 2023 31 D8c8mber 2023 Trnnsf8rs in/out G8lnSI (Losses) Income Exp&nditure Unrestricted funds General fund$ Propety repalr fund 93.482 (88,482) (5.000) (5.OOOJ 5,000 93,482 (93,482) Endowment Fund Reserve fund Accumulation fund 1,882.280 53.743 1,936,023 244.923 5,820 250,743 2,127.203 59,563 2, 186, 766 Restrl¢tèd fund8 Clergy fund Church Fabric fund Persons in Need & Exhibition fund 336,531 23.460 (4,412) 355,579 181,029 19,275 (16,668) 183,636 16.668 19.275 (16,668) 19.275 534,228 62,010 (37,748) 558,490 Total ol fund6 2,661.431 155,492 (131,230) 59,563 2. 745,256 Pa9e 19
CHRIST CHURCH LANDS CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 13. Statemgnt of lunds {Gontlnuod) The Reserve Fund is for the repair and maintenance of Ihe property of the charity, in addition to thè Church Fabric Fund. The Accumulation Fund represents unexpended income whKh was paid into the fund as caprtal prior to the $chem8. The income from this fund rnu be used for the purposes Set out in clause 2113>lbl of tha trust deeds. The CIEr9y Fund is for payments of dergy stipends for the parish of Christ Church. Th& Church Fabric Fund is for the repair, maintenance and insurance of the fabric of Chnsl Church and for the maintsnance and support of services therein. The Porsons in Need and Exhibition Fund 15 to make payments for the relief of persons in need, hardship or distress resident in the parish of Christ Church. The Property Repair Fund - the trustees have agreed to transfer £5,000 per annum from the genera5 fvnd to fund future repairs to properties. 14. Analy8ls of n•t a6•0ts botwoen fund• Investment propertles Invostmgnts Not currgnt a$$ets 2024 £ 2023 £ Capital funds1oxpendable} ReseNe fund Accumulation funds 1,525,000 725,918 2.250.918 1,936,023 18S 00 Income funds - mtrlcted Clergy fund Church Fabrie fvnd Exhibib'on fund 360,866 153.503 380,8ee 167,928 355,579 183.636 27 14.425 49 Unrostrictod fund 74 Tol•l Page 20