Ecclesiastical Purposes in Connexion with the Church of England Charity Number: 257099 Report and Accounts for the year ending 31 December 2024 The trust owns one property- 38, The Paragon, Bath BA1 SLY. This is referred to in this document as Church House. The property is currently let as two apartments, 8 garden apartment and an upper maisonette. Almost 811 trust income derives from the rent from these two apartments. The only other assets owned bythe trust are two small endowment funds, namely a bond fund and an UK Equityfund. both of which are run by Blackrock. The capitalvalue ofthese funds may not be spent. The funds produce a modest quarterly income. The combined value of these 0 funds is less than £20,000. Church House was originally owned by St Swithin's Church in Walcot, Bath. This church is next doorto Church House. Church House is a Grade11 listed Georgian building. The name of the trust indicatesthat the purpose ofthe trust is to furtherthe purposes of the Church of England. All grants from the trust are currently given to the PCC of St Swithin's Church in Bath, usually by monthly standing order. This has beerj the c8se for many years and is likely to remain the same in the future. This PCC is referred to this report as W81cot PCC. The trust is run bythree trustees: Sandra Gooding {Secretaryl, David Kingston and Michael Banner (Treasurer). The trust employs a letting agency IHomeLetsl to administer the issues that arise from time to time with the property. The agency charges a commission and deals with most incidents requiring maintenance and other routine tasks such as fire safety tests. Trustees do not receive a salary or otherfinancial gain, apartfrom any necessary expenses incurred. No claims for expenses were made in 2024.
Sorne maintenance costs were incurred on both apartments. These included.. Garden Flat: Gas Safety Remedialworks Installation of new fan in bathroom Insta118tion of new fan in kitchen Upper Maisonette: Renovation of the kitchen including replacing some kitchen cabinet doors Replacement shower Partial redecoration of the bathroom {a new bath 8nd more extensive work is needed in 20251 Redecoration offireplace area in bedroom Newgas hob Michael Banner was appointed as a new trustee in the summer of 2024 and agreed to become Treasurer. The Trust needs to maintain a level of reserves. so that sufficient funds are available to meet unexpected maintenance costs. The Trust operates a bank accountwith N8tWest. but this pays no interest on credit balances. In view of this. a decision was t8ken in Septemberto deposit some reserves with the Central Board of Finance Deposit fund. Transfers of moneyto this fund commenced atthe end ofseptember and bythe close of the year there was £11.000 in this deposit account, earning approximately 4.70 interest Iv8riable}. In the accounts this money is referred to as"CCLA Deposit Account" because the account is administered by CCLA. Interest on this money-apart from £0.13 which was the interest on £1000 for one day, 301h September 2024- will be paid from January 2025. The main reason for retaining the current level of reserves is that bathroom of the upper maisonette will need more remedialwork, including a new bath and floor. Additionally, all south-facingwindows, which are made of wood, will need to be repaired and repainted to a good standard. This is likely to require scaffolding to be erected. The trust pays a monthlygrantto Walcot PCC. In the course of 2025, the level of grant will be reviewed with the likelihood that it will be increased. The trust may decide to make additional ad-hoc additional grants to Walcot PCC in the future. The trust has appointed Drchristopher Chatfield of 36 Partis Way, Bath. BA13QQ to be the Independent Examinerof the end of year accounts. Christopher is retired. having been Reader in Statistics at Bath University for many years. Christopher has kindly agreed to carry outthe examination free of charge. Christopher is not a member of St Swithin's Church, which is the only beneficiaryof the trust's work.
Receipts and Paymentsforyear Ending 310ecember2024 Becelpts Rental-Top Flat Rental- Bottom Flat Investment Income (Blackrockl 19.151 10,800 454 Total Recelpts 30,405 EwendlturR LettingAgent's Commission Maintenance Insurance Tenancy Agreement and utility bills Donations to Walcot PCC 2.360 4,170 144 15.600 Total Expendlture 24,223 Net Receipts less Payments 6.181 Cash funds broughtfomard Cash funds carried forward 30,325 36,506 Natwest CurrentAccount CCLA DeposltAccount Blackrock Bond Fund Blackrock Equity Fund 8,338 11,000 3.122 14.046 Total Cash at hand 36,506
Statement of Assets and Liabilitles on 31st December 2024 Flxed Assets Value of building (Church House) Value of fixtures and flttings 835,487 25,000 Cu¥rentAssets Cash and investments 36,506 Total Assets 896.993 Nil Net of Assets and Llabilities 896,993 The value of Church House, and of its fixtures and f ittings, is the notional value as specified in the latest insurance policy. We the trustees hereby formally approve these end of year accounts. Name Signature Date of Signature o£f oLJ-
Independent Examiner's Report to the Trustees of Ecclesiastical Purposes in Connexion with the Church of England I have examined the accounts ofthe trust named"Ecclesiastical Purposes in Connexion with the Church of England" havingthe Charity Number 257099, for the year ending 31 December 2024. These accounts are set out on pages 1 to 4 of the trust's annual report and accountsforthe same accounting year li.e. set out in the previous pages of this same document). Responsibilities and basis of report As the charity's trustees you are responsible for the preparation of the accounts in accordance with the Charities Act 2011 {'the Act'}. I report in respect of my examination of the charity's accounts carried out under section 145 of the Act and in carrying out my examination, I have followed au the applicable Directions given by the Ch8rity Commission under section 145{5llbl ofthe Act. Independent examiner's statement I have completed my examination. I confirm that no material m8tters have come to my attention in connection with the examination giving me cause to believe that in any material respect: Accounting records were not kept in secret in respect of the charity as required by section 130 of the Act. or The accounts do not accord with those records. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in orderto enable a proper understanding of the accounts to be reached. Name .CH Signature Date of Signature Address 7L, ¢..+,, bJ4y, O.-K Tfv) 3•4