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2024-09-30-accounts

CHRISTIAN SCIENCE SOCIETY, MAIDSTONE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER 2024

Contents Pages
Legal and Administrative Details 1
Trustees Report 2-3
Independent Examiners Report 4
Statement of Financial Activities 5
Balance Sheet 6
Notes to the Financial Statements 7-11
Budget for 2024/25 12

Registered Charity Number 255941

CHRISTIAN SCIENCE SOCIETY, MAIDSTONE LEGAL AND ADMINISTRATIVE DETAILS AT 30 SEPTEMBER 2024

Page 1

PRESIDENT

Mrs E Hutchison

PROPERTY TRUSTEES

Mrs J Harmer J S Penrose P Snell

EXECUTIVE BOARD

Mrs J Harmer J S Penrose P Snell

CLERK

Mrs C A Penrose

INDEPENDENT EXAMINER

Mrs K High ACA 556 Loose Road Loose, Maidstone Kent, ME15 9UR

BANKERS

Santander UK Plc. Bridle Road, Bootle Merseyside, L30 4GB

Close Brothers Ltd 10 Crown Place London EC2A 4FT

SOLICITORS

Whitehead Monckton 5 Eclipse Park Sittingbourne Road Maidstone Kent, ME14 3EN

NatWest

3 High Street, Maidstone Kent, ME14 1HJ

United Trust Bank Ltd One Ropemaker Street London EC2Y 9AW

STOCKBROKERS

Hargreaves Lansdown 1 College Square South Anchor Road

Bristol, BS1 5HL

CHURCH ADDRESS

Vinters Road

Maidstone

Kent, ME14 5DX

Telephone (01622) 685830 Email: csmaidstone@gmail.com Web site: csmaidstone.co.uk

CHRISTIAN SCIENCE SOCIETY, MAIDSTONE TRUSTEES' REPORT

Page 2

The Trustees are pleased to present their report and the financial statements of the charity for the year ended 30th September 2024.

Structure, Governance and Management

Governing Document

Christian Science Society, Maidstone is governed by By-laws which were last revised in 2007 and approved by the Members at a meeting on 16 July 2007. The By-laws can be amended at a Members' meeting by a two-thirds' majority vote by ballot of the total membership of the charity. The Society is an unincorporated charity registered with The Charity Commissioners in England and Wales with registration number 255941.

Organisational Structure

The Society is managed by an Executive Board who are elected annually at the AGM in January. The Board meet on a regular basis as required and report to the members at each quarterly Members' meeting. The Church's freehold property and investments are held by Trustees who are appointed by the members in general meeting.

Risk Management

The Board have identified the major risks to which they believe the charity is exposed and these are reviewed from time to time to ensure systems are established to mitigate such risks.

Objects, Activities, Achievements and Performance for the public benefit

The Trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Church's aims and objectives and in planning future activities.

Charitable Objects

The principal objectives of the Society are to spread the understanding of Truth as set forth in the Bible and interpreted in "Science and Health with Key to the Scriptures" by Mary Baker Eddy, the discoverer and founder of Christian Science.

Review of activities

Sunday services together with Wednesday testimony meetings on the first Wednesday of each month were held throughout the year. In addition, a Thanksgiving service was held on Saturday 11th November 2023. Our Reading Room was open to the public on Saturdays and prior to the Wednesday testimony meetings and our Reading Group held meetings on the second Saturday of each month throughout the year. We again took part in the Kent Churches sponsored "Ride and Stride" which this year took place on 14th September 2024. During the year we continued our involvement in the Maidstone Inter-Faith Network having at least one representative at most of their meetings some of which were held via Zoom.

Financial Review

The accounts have been prepared in accordance with the Statement of Recommended Practice (Accounting and Reporting by Charities) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective from 1 January 2019) and known as the Charities SORP (FRS 102), and the Charities Act 2011.

Total income for the year amounted to £51,726 an increase of £7,299 on the previous year's figure of £44,427. This increase was due to an increase of £7,301 in investment income as a result of higher deposit interest rates.

CHRISTIAN SCIENCE SOCIETY, MAIDSTONE TRUSTEES' REPORT (Continued)

Page 3

Financial Review (continued)

Total expenditure during the year at £26,898 was just £911 up on the previous year's figure of £25,987.

The net income for the year before unrealised investment gains and losses amounted to £24,828 as compared to £18,440 in 2022/23. After adding the net unrealised investment gains during the year of £23,933 (2022/23 gains of £29,196), the net movement in funds amounted to an increase of £48,761 as compared to an increase of £47,636 in 2022/23.

Reserves

The Society's policy with regard to its free reserves is to maintain these at a sufficient level to ensure that it can continue to meet its objectives in the community in which it operates for the foreseeable future.

Trustees

The Charity Trustees (Members of the Executive Board) and the Property Trustees who served during the financial year and at the date of this report were as follows:

Executive Board: Mrs J Harmer J S Penrose P Snell Property Trustees: Mrs J Harmer J S Penrose P Snell

Trustees' responsibilities in relation to the financial statements

The law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the Charity’s financial activities during the year and of its financial position at the end of the year. In preparing financial statements giving a true and fair view, the Trustees should follow best practice and:

The Trustees are responsible for keeping accounting records which disclose with reasonable accuracy the financial position of the Charity and which enable them to ensure that the financial statements comply with the Charities Act 2011 and the provisions of the By-laws. 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 the Trustees on 22nd December 2024 and signed on their behalf by:

Mrs J Harmer Trustee

CHRISTIAN SCIENCE SOCIETY, MAIDSTONE Page 4 INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES OF CHRISTIAN SCIENCE SOCIETY, MAIDSTONE

I report on the accounts of the Society for the year ended 30 September 2024 which comprise the Statement of Financial Activities, the Balance Sheet and related notes set out on pages 5 to 11.

This report is made solely to the trustees in accordance with Section 145 of the Charities Act 2011. 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 for my examination work.

Respective responsibilities of trustees and examiner

The trustees are responsible for the preparation of the accounts. They consider that an audit is not required for this year under Section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.

It is my responsibility to:

Basis of independent examiner’s statement

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 Society and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts 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 accounts present a "true and fair view" and the report is limited to those matters set out in the statement below.

Independent examiner’s statement

In connection with my examination, no matter has come to my attention:

1. which gives me reasonable cause to believe that in any material respect the requirements:

have not been met, or

2. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Kathy High ACA 556 Loose Road, Loose, Maidstone, Kent, ME15 9UR

6th February 2025

CHRISTIAN SCIENCE SOCIETY, MAIDSTONE STATEMENT OF FINANCIAL ACTIVITIES

Page 5

FOR THE YEAR ENDED 30TH SEPTEMBER 2024

Unrestricted
2024
Building and
Reading
General
Maintenance
Charity
Room
Note
Fund
Fund
Fund
Fund
Total
Income From:
£
£
£
£
£
Donations and collections
2
3,381
-
167
-
3,548
Charitable activities
3
3,022
925
3,947
Investment income
4
18,215
23,914
42,129
Other income
5
1,998
104
2,102
Total income
26,616
24,018
167
925
51,726
Expenditure On:
Raising funds-Hargreaves Lansdown account charges
394
536
930
Charitable activities
6
5,745
17,068
1,090
23,903
Grants and donations payable
7
1,575
175
1,750
Governance cost: Independent Examiners fees
315
315
Total expenditure
8,029
17,604
175
1,090
26,898
Net income before investment gains and losses
18,587
6,414
(8)
(165)
24,828
Investment gains: Unrealised
9
6,740
17,193
23,933
Net movement in funds
25,327
23,607
(8)
(165)
48,761
Total funds brought forward at 1 October 2023
392,416
928,273
111
333
1,321,133
Total funds carried forward at 30 September 2024
417,743
951,880
103
168
1,369,894
---------------Restricted Funds--------------		 2023
£
3,330
3,697
34,828
2,572
44,427
897
23,665
1,150
275
25,987
18,440
29,196
47,636
1,273,497
1,321,133

The annexed notes form part of these financial statements

CHRISTIAN SCIENCE SOCIETY, MAIDSTONE BALANCE SHEET AT 30TH SEPTEMBER 2024

Page 6

HRISTIAN SCIENCE SOCIETY, MAIDSTONE
ALANCE SHEET AT 30TH SEPTEMBER 2024		 Page 6
Note
FIXED ASSETS
Tangible Assets
8
Investments
9
Term Deposits repayable after more than a year
CURRENT ASSETS
Stocks for own use
1d)
Income Tax Recoverable
Debtors and Prepayments
Accrued Income
Term Deposits repayable within a year
Hargreaves Lansdown Income & Capital Accounts
Cash at Bank and in hand
LESS CURRENT LIABILITIES
Creditors
NET CURRENT ASSETS
TOTAL NET ASSETS
REPRESENTED BY:
The funds of the charity:
Unrestricted
Restricted
TOTAL CHARITY FUNDS		 Note Unrestricted
2024
Building and
Reading
General
Maintenance Charity
Room
Fund
Fund
Fund
Fund
Total
£
£
£
£
£
234,531
234,531
271,352
225,763
497,115
271,352
460,294
-
-
731,646
129,596
208,404
338,000
125
125
666
33
699
1,077
529
1,606
5,275
5,785
11,060
5,000
275,000
280,000
1,440
1,957
3,397
4,297
1,135
70
470
5,972
17,755
284,406
103
595
302,859
960
1,224
427
2,611
16,795
283,182
103
168
300,248
417,743
951,880
103
168
1,369,894
417,743
417,743
951,880
103
168
952,151
417,743
951,880
103
168
1,369,894
--------------Restricted Funds--------------		 2023
£
244,533
472,988
Building and
General
Maintenance
Fund
Fund
£
£
234,531
271,352
225,763
271,352
460,294
129,596
208,404
666
1,077
529
5,275
5,785
5,000
275,000
1,440
1,957
4,297
1,135
17,755
284,406
960
1,224
16,795
283,182
417,743
951,880
417,743
951,880
417,743
951,880		 Charity
Fund
£
-
33
70
103
103
103
103
103		 Reading
Room
Fund
£
-
125
470
595
427
168
168
168
168
717,521
405,000
131
-
1,488
10,060
178,000
1,966
9,473
201,118
2,506
198,612
1,321,133
392,416
928,717
1,321,133

These financial statements were approved by the Board on 22nd December 2024 and signed on their behalf by:

P Snell

J S Penrose Trustee

Trustee

The annexed notes form part of these financial statements

CHRISTIAN SCIENCE SOCIETY, MAIDSTONE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER 2024

Page 7

1. ACCOUNTING POLICIES

a) Basis of preparation of the financial statements

The financial statements have been prepared in accordance with 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 (FRS102) (effective 1 January 2019), the Charities SORP (FRS102).

The 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 note(s). Donated assets are included at their estimated market value.

b) Fund accounting

Funds held by the charity are either:

Unrestricted general fund: These are funds which can be used in accordance with the charitable objects at the discretion of Trustees and the Members.

Restricted funds: These are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund.

c) Depreciation

Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost of each asset evenly over its estimated useful life as follows:

set evenly over its estimated useful life as follows:
Church Building 50 years
Furniture, Fixtures, Fittings and Equipment 10 years
Computer Equipment 5 years
Solar Panels 25 years

d) Stocks

Stocks of Reading Room books and literature for resale are written off in the year of purchase. Other stocks have been valued at the lower of cost or net realisable value.

e) Fixed asset investments

Investments are re-valued to market value at 30th September each year and the unrealised gains or losses are shown in the Statement of Financial Activities.

f) Income

Grants, donations and legacies are accounted for when their receipt is reasonably certain. All other income is included on an accruals basis.

g) Expenditure

Expenditure is provided for on an accruals basis.

Charitable activities include expenditure associated with the promotion of the charity's objectives and include both direct costs and support costs relating to these activities.

Governance costs include those incurred in the governance of the charity and its assets and are primarily associated with constitutional and statutory requirements.

h) Irrecoverable VAT

Irrecoverable VAT is charged against the category of resources expended for which it was incurred.

i) Volunteers

The charity relies for support on unpaid volunteers. The value of the volunteers time is not included in the SOFA.

2. Donations and collections received
Collections
Donations Under Gift Aid
Other Donations
Income Tax Recoverable under Gift Aid & GASDS
Kent Churches sponsored walk		 General Building and Charity
Fund
Maintenance
Fund
£
Fund
£
1,813
852
99
-
35
666
33
50
3,381
-
167		 Reading
Room
Fund
£
-		 2024
Total
£
1,813
951
35
699
50
3,548		 2023
Total
£
1,753
864
12
656
45
3,330

CHRISTIAN SCIENCE SOCIETY, MAIDSTONE Page 8 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER 2024 (Continued)

Note
3. Income from charitable activities
Room hire
Sales of literature and books etc.
4. Investment income
Interest received
Dividend Income
9
5. Other income
Solar feed in tariff
Hargreaves Lansdown loyalty bonus
6. Costs of charitable activities
Advertising
Cost of sales of reading room stock
Depreciation
8
Establishment Costs:
Cleaning
Garden Costs
Heat and Light
Insurance
Repairs and Maintenance
Water and Sewerage Rates
Honoraria
13
Lecture costs
Organists & Soloists Fees & Music
Printing, Postage and Stationery
COP Pro Rata Contributions
Quarterlies, Books and CDs
Sundry
Telephone and Internet		 Building and
General
Maintenance
Fund
Fund
£
£
3,022
3,022
-
6,542
12,484
11,673
11,430
18,215
23,914
1,921
77
104
1,998
104
445
10,536
969
1,135
1,590
1,230
3,198
207
1,759
-
571
109
102
368
328
266
5,745
17,068		 Reading
Room
£
925
925
-
-
1,039
51
1,090		 2024
Total
£
3,022
925
3,947
19,026
23,103
42,129
1,921
181
2,102
445
1,039
10,536
969
1,135
1,590
1,230
3,198
207
1,759
-
571
160
102
368
328
266
23,903		 2023
Total
£
2,679
1,018
3,697
12,614
22,214
34,828
1,974
598
2,572
462
1,120
10,522
980
972
1,630
1,108
15
209
1,743
3,186
603
175
91
382
244
223
23,665

CHRISTIAN SCIENCE SOCIETY, MAIDSTONE

Page 9

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER 2024 (Continued)

7. Grants and donations payable
Joint CSRRUK
Pension Trust for CS Nurses
Maidstone Christian Care Day Centre
8. Tangible fixed assets
Cost
At 1st October 2023
Additions
At 30th September 2024
Depreciation
At 1st October 2023
Charge for the year
At 30th September 2024
Written Down Value at 30th September 2024
Written Down Value at 30th September 2023		 2024
General
Charity
Fund
Fund
Total
£
£
£
-
-
325
175
500
1,250
1,250
1,575
175
1,750
Freehold Land
and Buildings
and Equipment
Total
£
£
£
538,123
47,116
585,239
534
534
538,123
47,650
585,773
302,147
38,559
340,706
9,803
733
10,536
311,950
39,292
351,242
226,173
8,358
234,531
235,976
8,557
244,533
Furniture, Fixtures		 2023
Total
£
150
-
1,000
1,150
Total
585,239
-
585,239
330,184
10,522
340,706
244,533

CHRISTIAN SCIENCE SOCIETY, MAIDSTONE

Page 10

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER 2024 (Continued)

9. Fixed asset investments
Holding
Original Market Value
30/09/23
Cost
30/09/23
Quantity
Cost
£
£
£
Unquoted Investments
Kentstone Properties Ltd
Ordinary shares of 50p
33,500
67,000
103,850
Quoted Investments
Lloyds Banking Group
Ordinary shares of 10p
2,649
1,347
1,177
abrdn UK Income Equity (Formerly LF abrdn Income Focus)
Class K Income units
8,369.360
19,771
9,886
Artemis Income
Class 1 Income units
4,286.51
9,885
10,766
Aviva Investors UK Listed Equity
Class 2 Income units
7,031.36
9,924
9,954
Aviva plc.
Ordinary shares of 25p
4,515
14,998
17,681
BP plc.
Ordinary shares of US$0.25
4,000
19,221
21,312
City of London Investment Trust
Ordinary shares of 25p
2,500
10,589
9,913
CT UK Equity Income
Class L Income units
11,299.78
19,938
21,933
Class L Income units
5,822.751
9,974
11,302
EdenTree Responsible & Sustainable managed
Class B Income units
7,627.765
9,893
9,596
Edinburgh Investment Trust plc.
Ordinary shares of 25p
1,950
14,901
13,006
HL High Income (Formerly HL Multi-Manager High Income)
Class A Income units
20,234.057
20,757
18,411
HL UK Income Fund
Class A Income units
21,303.792
19,869
19,095
HL Select UK Income
Income units
10,380.623
10,477
9,013
IFSL Marlborough Multi Cap Income
Class P Income units
20,885.582
30,000
25,347
148.131
194
Class P Income units
7,081.651
9,901
8,594
J O Hambro UK Equity
Class Y Income units
23,455.775
29,939
29,038
Janus Henderson Asian Dividend
Class 1 Income units
15,245.69
19,837
13,936
Legal & General Group plc.
Ordinary shares of 2.5p
10,900
19,903
24,285
Lloyds Banking Group
Ordinary shares of 10p
7,351
5,104
3,265
Merchants Trust plc.
Ordinary shares of 25p
4,170
20,066
22,476
Sainsbury(J) plc.
Ordinary shares of 28,4/7p
5,100
19,618
12,929
Shell plc.
Ordinary shares of €0.07
900
20,436
23,512
Tesco plc.
Ordinary shares of 6.333p
4,342
20,071
11,493
Verizon Communications Inc
Com Stock of US$0.10
264
6,328
7,015
Vodafone Group plc.
Ordinary shares of US$0.20
5,478
11,166
4,203
Total
470,913
472,988
194
General Fund
264,545
67
Building and Maintenance Fund
208,443
127
Additions/(Disposals)		 9. Fixed asset investments
Holding
Original Market Value
30/09/23
Cost
30/09/23
Quantity
Cost
£
£
£
Unquoted Investments
Kentstone Properties Ltd
Ordinary shares of 50p
33,500
67,000
103,850
Quoted Investments
Lloyds Banking Group
Ordinary shares of 10p
2,649
1,347
1,177
abrdn UK Income Equity (Formerly LF abrdn Income Focus)
Class K Income units
8,369.360
19,771
9,886
Artemis Income
Class 1 Income units
4,286.51
9,885
10,766
Aviva Investors UK Listed Equity
Class 2 Income units
7,031.36
9,924
9,954
Aviva plc.
Ordinary shares of 25p
4,515
14,998
17,681
BP plc.
Ordinary shares of US$0.25
4,000
19,221
21,312
City of London Investment Trust
Ordinary shares of 25p
2,500
10,589
9,913
CT UK Equity Income
Class L Income units
11,299.78
19,938
21,933
Class L Income units
5,822.751
9,974
11,302
EdenTree Responsible & Sustainable managed
Class B Income units
7,627.765
9,893
9,596
Edinburgh Investment Trust plc.
Ordinary shares of 25p
1,950
14,901
13,006
HL High Income (Formerly HL Multi-Manager High Income)
Class A Income units
20,234.057
20,757
18,411
HL UK Income Fund
Class A Income units
21,303.792
19,869
19,095
HL Select UK Income
Income units
10,380.623
10,477
9,013
IFSL Marlborough Multi Cap Income
Class P Income units
20,885.582
30,000
25,347
148.131
194
Class P Income units
7,081.651
9,901
8,594
J O Hambro UK Equity
Class Y Income units
23,455.775
29,939
29,038
Janus Henderson Asian Dividend
Class 1 Income units
15,245.69
19,837
13,936
Legal & General Group plc.
Ordinary shares of 2.5p
10,900
19,903
24,285
Lloyds Banking Group
Ordinary shares of 10p
7,351
5,104
3,265
Merchants Trust plc.
Ordinary shares of 25p
4,170
20,066
22,476
Sainsbury(J) plc.
Ordinary shares of 28,4/7p
5,100
19,618
12,929
Shell plc.
Ordinary shares of €0.07
900
20,436
23,512
Tesco plc.
Ordinary shares of 6.333p
4,342
20,071
11,493
Verizon Communications Inc
Com Stock of US$0.10
264
6,328
7,015
Vodafone Group plc.
Ordinary shares of US$0.20
5,478
11,166
4,203
Total
470,913
472,988
194
General Fund
264,545
67
Building and Maintenance Fund
208,443
127
Additions/(Disposals)		 9. Fixed asset investments
Holding
Original Market Value
30/09/23
Cost
30/09/23
Quantity
Cost
£
£
£
Unquoted Investments
Kentstone Properties Ltd
Ordinary shares of 50p
33,500
67,000
103,850
Quoted Investments
Lloyds Banking Group
Ordinary shares of 10p
2,649
1,347
1,177
abrdn UK Income Equity (Formerly LF abrdn Income Focus)
Class K Income units
8,369.360
19,771
9,886
Artemis Income
Class 1 Income units
4,286.51
9,885
10,766
Aviva Investors UK Listed Equity
Class 2 Income units
7,031.36
9,924
9,954
Aviva plc.
Ordinary shares of 25p
4,515
14,998
17,681
BP plc.
Ordinary shares of US$0.25
4,000
19,221
21,312
City of London Investment Trust
Ordinary shares of 25p
2,500
10,589
9,913
CT UK Equity Income
Class L Income units
11,299.78
19,938
21,933
Class L Income units
5,822.751
9,974
11,302
EdenTree Responsible & Sustainable managed
Class B Income units
7,627.765
9,893
9,596
Edinburgh Investment Trust plc.
Ordinary shares of 25p
1,950
14,901
13,006
HL High Income (Formerly HL Multi-Manager High Income)
Class A Income units
20,234.057
20,757
18,411
HL UK Income Fund
Class A Income units
21,303.792
19,869
19,095
HL Select UK Income
Income units
10,380.623
10,477
9,013
IFSL Marlborough Multi Cap Income
Class P Income units
20,885.582
30,000
25,347
148.131
194
Class P Income units
7,081.651
9,901
8,594
J O Hambro UK Equity
Class Y Income units
23,455.775
29,939
29,038
Janus Henderson Asian Dividend
Class 1 Income units
15,245.69
19,837
13,936
Legal & General Group plc.
Ordinary shares of 2.5p
10,900
19,903
24,285
Lloyds Banking Group
Ordinary shares of 10p
7,351
5,104
3,265
Merchants Trust plc.
Ordinary shares of 25p
4,170
20,066
22,476
Sainsbury(J) plc.
Ordinary shares of 28,4/7p
5,100
19,618
12,929
Shell plc.
Ordinary shares of €0.07
900
20,436
23,512
Tesco plc.
Ordinary shares of 6.333p
4,342
20,071
11,493
Verizon Communications Inc
Com Stock of US$0.10
264
6,328
7,015
Vodafone Group plc.
Ordinary shares of US$0.20
5,478
11,166
4,203
Total
470,913
472,988
194
General Fund
264,545
67
Building and Maintenance Fund
208,443
127
Additions/(Disposals)		 9. Fixed asset investments
Holding
Original Market Value
30/09/23
Cost
30/09/23
Quantity
Cost
£
£
£
Unquoted Investments
Kentstone Properties Ltd
Ordinary shares of 50p
33,500
67,000
103,850
Quoted Investments
Lloyds Banking Group
Ordinary shares of 10p
2,649
1,347
1,177
abrdn UK Income Equity (Formerly LF abrdn Income Focus)
Class K Income units
8,369.360
19,771
9,886
Artemis Income
Class 1 Income units
4,286.51
9,885
10,766
Aviva Investors UK Listed Equity
Class 2 Income units
7,031.36
9,924
9,954
Aviva plc.
Ordinary shares of 25p
4,515
14,998
17,681
BP plc.
Ordinary shares of US$0.25
4,000
19,221
21,312
City of London Investment Trust
Ordinary shares of 25p
2,500
10,589
9,913
CT UK Equity Income
Class L Income units
11,299.78
19,938
21,933
Class L Income units
5,822.751
9,974
11,302
EdenTree Responsible & Sustainable managed
Class B Income units
7,627.765
9,893
9,596
Edinburgh Investment Trust plc.
Ordinary shares of 25p
1,950
14,901
13,006
HL High Income (Formerly HL Multi-Manager High Income)
Class A Income units
20,234.057
20,757
18,411
HL UK Income Fund
Class A Income units
21,303.792
19,869
19,095
HL Select UK Income
Income units
10,380.623
10,477
9,013
IFSL Marlborough Multi Cap Income
Class P Income units
20,885.582
30,000
25,347
148.131
194
Class P Income units
7,081.651
9,901
8,594
J O Hambro UK Equity
Class Y Income units
23,455.775
29,939
29,038
Janus Henderson Asian Dividend
Class 1 Income units
15,245.69
19,837
13,936
Legal & General Group plc.
Ordinary shares of 2.5p
10,900
19,903
24,285
Lloyds Banking Group
Ordinary shares of 10p
7,351
5,104
3,265
Merchants Trust plc.
Ordinary shares of 25p
4,170
20,066
22,476
Sainsbury(J) plc.
Ordinary shares of 28,4/7p
5,100
19,618
12,929
Shell plc.
Ordinary shares of €0.07
900
20,436
23,512
Tesco plc.
Ordinary shares of 6.333p
4,342
20,071
11,493
Verizon Communications Inc
Com Stock of US$0.10
264
6,328
7,015
Vodafone Group plc.
Ordinary shares of US$0.20
5,478
11,166
4,203
Total
470,913
472,988
194
General Fund
264,545
67
Building and Maintenance Fund
208,443
127
Additions/(Disposals)		 9. Fixed asset investments
Holding
Original Market Value
30/09/23
Cost
30/09/23
Quantity
Cost
£
£
£
Unquoted Investments
Kentstone Properties Ltd
Ordinary shares of 50p
33,500
67,000
103,850
Quoted Investments
Lloyds Banking Group
Ordinary shares of 10p
2,649
1,347
1,177
abrdn UK Income Equity (Formerly LF abrdn Income Focus)
Class K Income units
8,369.360
19,771
9,886
Artemis Income
Class 1 Income units
4,286.51
9,885
10,766
Aviva Investors UK Listed Equity
Class 2 Income units
7,031.36
9,924
9,954
Aviva plc.
Ordinary shares of 25p
4,515
14,998
17,681
BP plc.
Ordinary shares of US$0.25
4,000
19,221
21,312
City of London Investment Trust
Ordinary shares of 25p
2,500
10,589
9,913
CT UK Equity Income
Class L Income units
11,299.78
19,938
21,933
Class L Income units
5,822.751
9,974
11,302
EdenTree Responsible & Sustainable managed
Class B Income units
7,627.765
9,893
9,596
Edinburgh Investment Trust plc.
Ordinary shares of 25p
1,950
14,901
13,006
HL High Income (Formerly HL Multi-Manager High Income)
Class A Income units
20,234.057
20,757
18,411
HL UK Income Fund
Class A Income units
21,303.792
19,869
19,095
HL Select UK Income
Income units
10,380.623
10,477
9,013
IFSL Marlborough Multi Cap Income
Class P Income units
20,885.582
30,000
25,347
148.131
194
Class P Income units
7,081.651
9,901
8,594
J O Hambro UK Equity
Class Y Income units
23,455.775
29,939
29,038
Janus Henderson Asian Dividend
Class 1 Income units
15,245.69
19,837
13,936
Legal & General Group plc.
Ordinary shares of 2.5p
10,900
19,903
24,285
Lloyds Banking Group
Ordinary shares of 10p
7,351
5,104
3,265
Merchants Trust plc.
Ordinary shares of 25p
4,170
20,066
22,476
Sainsbury(J) plc.
Ordinary shares of 28,4/7p
5,100
19,618
12,929
Shell plc.
Ordinary shares of €0.07
900
20,436
23,512
Tesco plc.
Ordinary shares of 6.333p
4,342
20,071
11,493
Verizon Communications Inc
Com Stock of US$0.10
264
6,328
7,015
Vodafone Group plc.
Ordinary shares of US$0.20
5,478
11,166
4,203
Total
470,913
472,988
194
General Fund
264,545
67
Building and Maintenance Fund
208,443
127
Additions/(Disposals)		 Holding
30/09/24		 Market Value
30/09/24

£
95,475
1,560
10,129
12,263
11,105
21,812
15,686
10,950
24,203
12,472

10,397
14,586
19,928
21,302
9,757
28,785
9,691
33,378
14,758
24,601
4,328
24,394
15,096
21,874
15,596
8,865
4,124		 Unrealised
Gain/(Loss)
£
(8,375)
383
243
1,497
1,151
4,131
(5,626)
1,037
2,270
1,170
801
1,580
1,517
2,207
744
3,244
1,097
4,340
822
316
1,063
1,918
2,167
(1,638)
4,103
1,850
(79)		 Income
inyear
£
3,350
77
268
427
439
1,508
926
515
908
468
468
530
782
845
364
1,332
450
1,677
1,079
2,249
213
1,188
668
957
525
472
418		 Income %
on cost
148.131 33,500
2,649
8,369.360
4,286.51
7,031.36
4,515
4,000
2,500
11,299.78
5,822.751
7,627.765
1,950
20,234.057
21,303.792
10,380.623
21,033.713
7,081.651
23,455.775
15,245.69
10,900
7,351
4,170
5,100
900
4,342
264
5,478		 5.00%
5.72%
1.36%
4.32%
4.42%
10.05%
4.82%
4.86%
4.55%
4.69%
4.73%
3.56%
3.77%
4.25%
3.47%
4.41%
4.54%
5.60%
5.44%
11.30%
4.17%
5.92%
3.41%
4.68%
2.62%
7.46%
3.74%
4.90%
470,913
472,988		 194 497,115 23,933 23,103
264,545
208,443		 67
127		 271,352
225,763		 6,740
17,193		 11,673
11,430

The shares in Kentstone Properties Ltd have been valued at the year end at the average price at which shares had changed hands during the company's accounting period ended 31 March 2024

CHRISTIAN SCIENCE SOCIETY, MAIDSTONE

Page 11

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER 2024 (Continued)

10. Statement of Cash Flows
Note
2024
£
Net cash generated/(used) in operating activities
11
(7,471)
Cash flows from investing activities:
Dividends and interest received
41,129
Purchase of fixed asset investments
(194)
Purchase of tangible fixed asset
(534)
Decrease/(Increase) in term deposits (over 3 months to maturity)
90,000
Net cash provided by/(used in) investing activities
130,401
Changes in cash and cash equivalents in the year
122,930
Cash and cash equivalents at the beginning of the year
12
11,439
Cash and cash equivalents at the end of the year
12
134,369
11. Reconciliation of net movement in funds to net cash flow from operating activities
Net movement in funds
48,761
Adjustments for:
Depreciation
10,536
Dividends and interest received
(42,129)
Cost of investments disposed
-
Unrealised (gains)/losses
(23,933)
(Increase)/Decrease in stock
6
(Increase)/Decrease in debtors and prepayments
(817)
Increase/(Decrease) in creditors
105
Net cash generated/(used) in operating activities
(7,471)
12. Analysis of cash and cash equivalents
Term deposits (within 3 months to maturity)
125,000
Hargreaves Lansdown Cash Accounts repayable on demand
3,397
Cash at bank and in hand
5,972
134,369		 2023
£
(5,492)
28,304
(132)
-
(61,000)
(32,828)
(38,320)
49,759
11,439
47,636
10,522
(34,828)
-
(29,196)
10
490
(126)
(5,492)
-
1,966
9,473
11,439

13. Trustees remuneration

None of the Trustees received any remuneration in respect of their office as a Trustee.

During the year to 30th September 2024 Mrs E Hutchison was paid £570 for cleaning services (2022/23 £640), Mr J S Penrose was paid a total of £1,127 for gardening services, cleaning and general repairs and maintenance (2022/23 £930) and Mrs C Penrose was paid £271 for temporary cleaning services (2022/23 £142)

Officers, including Trustees and Members are paid an honoraria to cover their expenses in performing their duties. The total amounts paid during the year for the duties shown were:

Clerk
Mrs C Penrose
Deputy readers:
Mrs J Harmer
Mrs E Hutchison
Mrs S Parker
Mrs C Penrose
Mr J Penrose
Librarian
Mrs C Penrose
Treasurer
Mrs C Penrose		 2024
£
325
230
114
90
376
174
225
225
1,759		 2023
£
325
240
126
60
362
180
225
225
1,743

CHRISTIAN SCIENCE SOCIETY, MAIDSTONE BUDGET FOR 2024/25

Page 12

Income from:
Donations & Collections
Income Tax Recoverable
Charitable activities
Room Hire
Sales of literature and books etc.
Investment income
Deposit interest
Dividend Income
Other income
Solar Feed in Tariff
Hargreaves Lansdown loyalty bonuses
Total income
Expenditure
Advertising
Cost of sales of reading room stock
Depreciation
Establishment Costs:
Cleaning
Garden Costs
Heat and Light
Insurance
Lecture
Repairs and Maintenance
Water and Sewerage Rates
Hargreaves Lansdown account charges
Honoraria
Organists' & Soloist's Fees & Music
Printing, Postage and Stationery
Quarterlies, Books and CDs
Sundry
Telephone and Internet
COP Pro Rata Contributions
Grants and donations payable
Independent Examiners fees
Total resources expended
Net income		 Building and
General
Maintenance
Fund
Fund
£
£
2,600
650
2,400
6,500
12,500
11,000
11,000
1,900
80
110
25,130
23,610
500
10,570
1,000
1,100
2,000
1,350
-
1,000
240
400
550
1,760
600
200
480
250
300
125
3,000
340
10,195
15,570
14,935
8,040		 Charity
Fund
£
140
35
175
150
150
25		 Reading
Room
Fund
£
900
900
1,150
50
(300)
900
-		 Total
£
2,740
685
2,400
900
19,000
22,000
1,900
190
49,815
500
1,150
10,570
1,000
1,100
2,000
1,350
-
1,000
240
950
1,760
600
250
480
250
300
125
2,850
340
26,815
23,000