2022-12-31-accounts - Church Estate

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Trustees’ annual report for the period

From: 1 January 2022

To: 31 December 2022

Charity name: The Church Estate, Chalgrove

Charity registration number: 254896

Company number: Not Applicable

Objectives and Activities

	SORP reference
Summary of the purposes of the charity as set out in its governing document	Para 1.17	The charity’s objects are the repair, improvement and maintenance of the fabric and furniture of the Parish Church of Chalgrove and the maintenance of the services thereof.
Summary of the main activities in relation to those purposes for the public benefit, in particular, the activities, projects or services identified in the accounts.	Para 1.17 and 1.19	The fixed asset investments of the charity are held as endowment funds. The policies adopted in furtherance of these objects are generating income for the charity’s investments and making grants to the Parochial Church Council of Chalgrove Parish Church and there has been no change in these during the year. The charity continues to generate income through the rental of its investment properties. The income is applied to achieve the objects of the charity by way of providing photocopying facilities to support services, and grants to the Parochial Church Council for the maintenance of the fabric of the church.
Statement confirming whether the trustees have had regard to the guidance issued by the Charity Commission on public benefit.	Para 1.18	The Trustees have paid due regard to the guidance issued by the Charity Commission on public benefit in deciding what activities the charity should undertake.
Additional information (optional) You may choose to include further statements where relevant about:
	SORP reference
Policy on grant making	Para 1.38
Policy on social investment including program related investment	Para 1.38
Contribution made by volunteers	Para 1.38
Other

Achievements and Performance

	SORP reference
Summary of the main achievements of the charity, identifying the difference the charity’s work has made to the circumstances of its beneficiaries and any wider benefits to society as a whole.	Para 1.20	The charity met 4 times during the year. The Trustees continued to address issues affecting tenants in light of the COVID-19 Pandemic and to act accordingly to protect the assets of the Trust. The Trustees continued discussions with their agents, Carter Jonas LLP, regarding the rent reviews under the Lease for the Red Lion. The Trustees continued to support the parochial church council of St Mary’s Church, Chalgrove with the maintenance of the fabric and services.

Additional information (optional)

You may choose to include further statements where relevant about:

	SORP reference
Achievements against objectives set	Para 1.41
Performance of fundraising activities against objectives set	Para 1.41
Investment performance against objectives	Para 1.41
Other

Financial Review

SORP reference

Review of the charity’s financial position at the end of the period	Para 1.21	The charity continues to accumulate funds through careful investment and management of its properties enabling it to make grants to the Parochial Church Council of Chalgrove Parish Church. Mindful of the economic situation and the financial implications for this charity all monies are placed on deposit and invested carefully with the Central Board of Finance for the Church of England.
Statement explaining the policy for holding reserves stating why they are held	Para 1.22	As a grant making charity with reasonably predictable income sources, the trustees consider that the current level of unrestricted reserves is sufficient for winding up of the charity. A reserve fund (Extraordinary Repair Fund) is maintained for the purpose of providing for the extraordinary repair, improvement extension or rebuilding of the Parish Church of Chalgrove.
Amount of reserves held	Para 1.22	£5,384.90
Reasons for holding zero reserves	Para 1.22
Details of fund materially in deficit	Para 1.24
Explanation of any uncertainties about the charity continuing as a going concern	Para 1.23

Additional information (optional)

You may choose to include further statements where relevant about:

	SORP reference
The charity’s principal sources of funds (including any fundraising)	Para 1.47
Investment policy and objectives including any social investment policy adopted	Para 1.46
A description of the principal risks facing the charity	Para 1.46
Other

Structure, Governance and Management

Description of charity’s trusts:	SORP reference
Type of governing document: eg trust deed, memorandum and articles of association etc.	Para 1.25	The charity was established by a charitable trust deed on 29 March 1887 as varied by a Scheme of 15 May 1967 and 22 August 1990.
How is the charity constituted? eg limited company, unincorporated association, CIO	Para 1.25	Trust
Trustee selection methods including details of any constitutional provisions e.g. election to post or name of any person or body entitled to appoint one or more trustees	Para 1.25	The trust deed stipulates seven trustees comprising three ex officio trustees, two nominative trustees and two co-optative trustees. The Vicar and Churchwardens of Chalgrove Parish Church are ex- officio trustees. The Nominative trustees are appointed by the Parochial Church Council of Chalgrove Parish Church. The Co-optative trustees are appointed by the other trustees. Co-optative trustees serve for five years and the other trustees for four years respectively.

Additional information (optional)

You may choose to include further statements where relevant about:

	SORP reference
Policies and procedures adopted for the induction and training of trustees	Para 1.51	On appointment trustees sign a declaration of acceptance and willingness to act in the trust of the Charity in the Minute Book. Copies of the trust deeds are provided. Trustee induction is an informal process with serving trustees explaining the background, relevant issues, risk factors and financial position to incoming trustees.
The charity’s organisational structure and any wider network with which the charity works	Para 1.51	The Charity is managed by the Board of Trustees who meet at least four times during the year. The Trustees delegate the day to day management of the rental properties to letting agents Carter Jonas LLP.
Relationship with any related parties	Para 1.51
Other		The Trustees have assessed the major risks to which the charity is exposed and are satisfied that systems and procedures are in place to mitigate exposure to those risks.

Reference and Administrative Details

Charity name	The Church Estate, Chalgrove
Other name the charity uses	Chalgrove Church Estate
Registered charity number	254896
Charity’s principal address	The Vicarage, 58 Brinkinfield Road, Chalgrove, Oxford OX44 7QX

Names of the charity trustees who manage the charity

Trustee name	Office (if any)	Dates acted if not for whole year
Reverend Michael Lakey	Chairman	N/A
Mrs S W Brown	Secretary	N/A
Mrs P Hunt		N/A
Mr M Jacques		01.01.2022 – 12.12.2022
Mrs K Mulcahy		N/A
Mr B Spicer		N/A
Mrs J Reeve		N/A

Reference and Administrative Details (cont)

Corporate trustees – names of the directors at the date the report was approved

Director name

Name of trustees holding title to property belonging to the charity

Trustee name Dates acted if not for whole year

Funds held as custodian trustees on behalf of others

Description of the assets held in this capacity	The charity holds funds of £62.10 as custodian for the Chalgrove Ecclesiastical Charity, registered number 275431.
Name and objects of the charity on whose behalf the assets are held and how this falls within the custodian charity’s objects	The Chalgrove Ecclesiastical Charity receives income from investments and expends on services for sermons and holy communion.
Details of arrangements for safe custody and segregation of such assets from the charity’s own assets	The funds are invested in the CBF Church of England Investment Fund.

Additional information (optional)

Names and addresses of advisers (optional information)

Type of adviser Name Address

Name of chief executive or names of senior staff members (optional information)

Exemptions from disclosure

Reason for non-disclosure of key personnel details

Other optional information

Declarations The company has taken advantage of the small cx)mpanies' exemptK)n in preparing the report above. The trustees declare that they have aN)roved the IJuSt. retwNt finduding direct, report) above. Signed on behalf of the charitys truSteedirect Signaturels) Full namels) Reverend Michael Lakey Posttion (for example Secretary, Chair, etc.) Trustee, ChaimRn Date

Section A Receipts and payments

A1 Receipts Donations and gifts Interest income Dividend income Rental income

Sub total(Gross income for AR)

A2 Asset and investment sales, (see table).

Sub total

Total receipts

A3 Payments Management costs Grant funding of activities Governance Costs

Sub total

A4 Asset and investment purchases, (see table)

Sub total

Total payments

Net of receipts/(payments) A5 Transfers between funds A6 Cash funds last year end Cash funds this year end

Section B Statement of assets and liabilities at the end of the period

Page 1

Receipts and payments accounts	Receipts and payments accounts
For the period	from		1st Jan 2022
Unrestricted funds			Restricted funds
to the nearest	�		to the nearest�
		6	-
		475	-
		3853	-
		60750	-
-			-
-			-
-			-
-			-
		65084	-
-			-
-			-
-			-
		65084	-
		22100	-
		21720	-
		435	-
-			-
-			-
-			-
-			-
-			-
-			-
		44255	-
-			-
-			-
-			-
		44255	-
		20829	-
-			-
		74465	-
		95294	-

Details

Main Account Less cheques written in current year but not cleared Deposit account Total cash funds (agree balances with receipts and payments account(s))

Details

Retainer held by Carter Jones

Details Investment properties Shareholdings

Details

Signature

Page 4

254896

31st Dec 2022

Endowment funds	Total funds
to the nearest�	to the nearest�
-		6
-		475
-		3853
-		60750
-	-
-	-
-	-
-	-
-		65084
-	-
-	-
-	-
-		65084
-		22100
-		21720
-		435
-	-
-	-
-	-
-	-
-	-
-	-
-		44255
-	-
-	-
-	-
-		44255
-		20829
-	-
-		74465
-		95294

Page 5

Unrestricted funds	Restricted funds
to nearest�	to nearest�
57376	-
-	-
37918	-
95294	-
OK	OK
Unrestricted funds	Restricted funds
to nearest�	to nearest�
1000	-
-	-
-	-
-	-
-	-
-	-
Fund to which asset belongs	Cost (optional)
Endowment	-
Endowment	-
	-
	-
	-
Fund to which asset belongs	Cost (optional)
	-
	-
	-
	-
	-
	-
	-
	-
	-
Fund to which liability relates	Amount due (optional)
	-
	-
	-
	-
	-
Print Name

Page 6

CC16a

Last year to the nearest � 22 16 3726 34192 - - - - 37956 - -

37956

13307 12056 3267 - - - - - - 28630

28630 9326 - 65139 74465

Page 7

Endowment funds to nearest � - - - - OK Endowment funds to nearest � - - - - - -

Current value (optional) 1015000 134831 - - -

Current value (optional) - - - - - - - - -

When due (optional)

Date of approval

Page 8

CHARITY COMMISSION FOR ENGLAND AND WALES Independent examinerfs report on the accounts Section A Independent Examiner's Report Roport to the trusteesl members of On accounts for the year ended Charlty no (if any) 254 Set out on pages I report to the trustees on my examination of the accounts of the above ¢harity I'the Trust") for the year ended Responslbllities and As the charity trustees of the Trust, you are responsible for the preparation basis of report of the accounts in accordance with the requirements of the Charities Aot 2011 {'the ACV) I report in respect of my examination of the Trust's accounts carried oul under section 145 of the 2011 Act and in carrying out my examinalion, I have followed the applicable Directions given by the Charity Commission under section 145{51{bl of the Act. I have completed my examination. I confimi thal no malerial matters have come to my attention {other than that disclosed below") in connection with the examination which gives me cause to believe that in, any material respect.. accounting records were not kept in accordance with section 130 of the Act or the accounts do not aord with Ihe accounting records Independent examiner's statsment I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable proper understanding of the accounts to be reached. Please dalate tha words in th8 brackets il Ihgy do not apply. Signed: Date: Name: Relevant professional qualification{s) or body {if any): Address: CIIfvL*eoVC 6<lk4 7sD IER October 2018