COUNT ON US BOOKKEEPING & ACCOUNTANCY LTD HONEST . RELIABLE . PROFESSIONAL Hornsea Church Lands Trust FINANCIAL STATEMENTS YEAR ENDING 31st December 2023 t.. 01964 535275 e rnark@Eountonu5uk.corn iv countonuguk.com Seaton GaTr8e. Horn5eè Road. Seaton. E. Yorkshire. HUII 5RII
Hornsea Church Lands Contents of the Financial Statements for the year ended 31st De¢ember 2023 Pag8 Refer8nce and Administrative Details Report of the Trustees Independent Examlnerfs Report statement of Financial Activities Balart Sheet Notes to the Financial Stat&ments 9-14
Hornsea Church Lands Reference and Administrative Details for the year ended 31st DeGgmbèr 2023 The Charity is administered by a maximurn of nine Trustees appointed lor a ten year terrn and comprising Ex officio Rev. C. N. Minett Stevens {Chairmanl Trustees Mr. N. D. Stacey Mr. M. Bateman Mr. R. G. Wallace Ms. H. Simms Mr. J. Moss Mr. K. Twigg (to 10th November 2023} Ms. J. Jones The Rev'd Minett Stevens accepted the position of Chairman of the Hornsea Church Lands Trust las an ex officio member, a position which is usually held by the Vicar of Hornsea Church). The VicaTage Newbegin Hornsea East Yorkshire HU18 1AB PRINCIPAL ADDRESS REGISTERED CHARITY NUMBER 257705 INDEPENDENT EXAMINER Count on Us Bookkeeping & Accountancy Limited Hornsea Road Seaton HUII 5RQ ADVISERS Bankers HSBC Bank Plc, l King Street, Bridlington, Y015 2DL. Stockbrokers J.M. Finn & Co, 25 Copthal Avenue London, EC2R TAH.
Hornsea Church Lands Report of the Trustees for the year ended 31st December 2023 The trustees present their report with the financial statements of the charity for the year ended 31st December 2023. Thè trustees have adopted the provisions ol A¢counting and Reporting by Chaiities". Statemtsnt of Re¢ornmended Practice applicable to charitiès preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 20191. ACHIEVEMENT AND PERFORMANCE Charitable activities Property ValualiDns were cairied out on all the properties and land in 2016 and therefore these values remain unchanged this year. Atwick Road Field This f1eld has now been registered with the Land Registry, including vesting the land in the official euslodian for Charities as were the allotments in 2017. Allotm¢nts Rent remains set at £10 for a half plot per annum. There 8re 86 half plots ol which 83 are available lo rent. The total inGome from the allotments this year was £84012022 £7501, £820 was received from the rent of 82 half plots with 2 plots vacant and a furthèr £20 arrear5 received in the year. After deduction of £150 paid to one of the Representatives Trustees for supervision, administration and rent collection. Costs of £100 for gardening services and other sundry costs a surplus in the year of £590 arose. With the surplus from the previous year of £408, surplus ¢a5h Df £699 was banked in the year lo leave cash available for future use of £300. Rentèd properties The flats and commercial properties in Market Place Hornsea are managed by Quick and Clarke who now collect the rents for all these premises and pay the net amounts after management fees and related ¢osts to the trust periodically. The flats at 7ket Place were not fLJlly let during the year due to ongoing refurbishments. Total PTopety rents for the year amounted to £34.071 compared to £34,500 foi 2022. Propety repairs amounted to £36698 for the year12022 £6,072). Included in the figure is £26,DOO relating to refurbishment of the Market Place properties. Application of funds Grants of £28.172 to Hornsea Parochial Church Council were agreed in the year. Under the amended G()verning Document. the trustees required to expend 70D/o of the unrestricted net income for Charitsble purposes. For the year ended 315l December 2023 the trustees have disregarded exceptional expenditure on properties of £28.000 in calculating the net income available for charitsble grants. On this basis a grant of £17,004 will be made to Hornsea Parochial Church. Investment Perfomiance Investment income has increased by 10Qlo compared to the previous year12022 decr&ase of 30/01 Thè value of investments has increased by 5Qlo compared to the previous year12022 13°/o reduction) FINANCIAL REVIEW Reserves policy Cash reserves at 31st December 2023 are considered sufficient for anticipated needs for the forthcoming year.
Hornsea Church Lands Report of the Trustees for the year ended 31st Dec•mb&r 2023 STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The Hornsea Church Lands is registÈr&d with the Charity Cornmissioners as The Church Lands in the Parish of Hornsea and ¢onstituted by Charity Commission scheme dated 12 February 1932 and amended in January 2023 and January 2024. As Stated in the Scheme approved by the Charity Commission on 12 February 1932. the two objective5 are the provision ol funds for the maintenance of the fabric of St. Nicholas ChLJrch, Hornsea. and the distribution of surplus income to the Parochial Church council for general use as Church funds. With this in view, the Feoffees have historically maintained two funds. a Fabric Fund and a General Fund, and this division of lunds has been maintained through the current year. The Trustees have considered the Commission's guidance on public benefit and are ol the opinion that this Is fulfilled by the charity's continued support of an establishment for the advancement of religion. Rtrcruitment and appolntment of new trustees The power of appointment of new Trustees to th8 Trust lies jointly with the Parochial Church Council and existing trustees. New truslees are appointed with a view lo the board of trustees providing the complementsry mix of skills necessary to perform the trustees, function. Induction and training of new trusteès Trustees are encouraged to obtain training so as to increase their skills, such training lo be organised and funded by the charity. Approved by order of the board of trustees on 23rd October 2024 and signed on its behalf by: Revd C N Minelt Stevens - Trustee
Independent Examiner's Report to the Trustees of Hornsea Church Lands Indepgnd&nt &xaminer's report to thg trustegs of Hornsea Church Lands I reporl lo the charity trustees on my examination of the accounts of Hornsea Church Lands Ilhe Trust) for Ihe year ended 31st December 2023. Responslbilities and basis of report As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charitiès Act 2011 1.the Acl'l. I report in r8speGt of my examination of the Trust's accounts carried out under Section 145 of the Act and in carying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145151{bl of the Act. Indep&ndent examlner's statement I have completed my examination. I confirm that no material matters have come to my attention in connection with the èxamination giving me cause to believe that in any material respect: accounting record5 were not kept in respect of the Trust as required by Section 130 of the Act., or the aG¢ounts do not accord with those records-, or the accounts do not comply with the applicable requirements conceming the form and content of accounts set out in the Charities (Aceounls and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination. I have no concems and have come across no othèr matters in Connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the a¢counts lo be reached. M Elvin MICB PM Dip Count On Us Bookkeeping & Accountancy Limited Hornsea Road Seaton East Yorkshire HUII 5RQ 23rd October 2024
Hornsea Church Lands statement of Financial Activities for the year ended 31st December 2023 2023 Total funds 2022 Total funds Unrestricted ftjnd Restricted fund Notes INCOME ANO ENDOWMENTS FROM Investment income 52,520 11.328 63.848 61,688 EXPENDITURE ON Raising funds 4.378 57.324 25,447 $2.946 Charitable •ctivitles Grants 45.176 45.176 162.736 1,282 1,282 2,052 Other 103,782 190,235 Total 99.404 4.378 252 238 Net gainslllosses) on investments 9,497 (18,4641 1380.7851 NET INCOMEI(EXPENDITURE} 127,961) RECONCILIATION OF FUNDS Total ftJnd5 brought forward 2,002,196 1,257,117 364,294 1.621,411 TOTAL FUNDS CARRIED FORWARD 1,229,156 373.791 1,602,947 1.621,411 CONTINUING OPERATIONS All incotme and expenditure has arisen from continuing actlvities. The notes fom part of these financial statements
Hornsea Church Lands Balance Sheet 31st December 2023 2023 2022 Notès FIXED ASSETS Investments Inveslmgnls Investment property 1,050,196 565 000 1,004,753 1.615.196 1,569.753 CURRENT ASSETS Debtors Cash at bank and in hand 23,781 53,561 CREDITORS Amounts falling dug within one year (36.0301 11,903) 10 NEf CURRENT ASSETS ILIABILITIES} TOTAL ASSETS LESS CURRENT LIABILITIES 1,602,947 1,621,411 1,602.947 1,621,411 NET ASSETS FUNDS Unrestricted funds Reslricled funds 12 1,229,156 373 791 1.257,117 1,621.411 TOTAL FUNDS The financial slalements were approved by the Board of Trustees and authorised for issue on 23rd October 2024 and were signed on ils behalf by.. C N Minett Stevens - TTUStee The notes form part of the58 financial statements
Hornsea Church Lands Notes to the Financial Statements for thè year ended 31st Dècember 2023 ACCOUNTING POLICIES Bas1$ of preparin9 the flnaDcial ststèments The financial statements of the charity. which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP IFRS 1021'Accounling and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffective 1 January 20191,. Financial Reporting Standard 102'The Financial Reporting Standard applicabla in the UK and Republic of Ireland, and the Ch8rities Act 2011. The financial statements have been prepared under the historlcal cost convention. with the excèption of investments which 8rè included al market value, as modified by the revaluation of certain assets. Income All income is recognised in the Ststemenl of Financial Activities once the charity has entitlement to the funds, ff is probable that the income will be received and the amount can be measured reliably. Expendlturn Liabilities are recogni5ed as expenditur8 as Soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basi5 and has been classified under headings that aggreg8le all cost related to the category Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basi5 Consistent with the use ol resources. Grants offered subject to conditions which have not been met at the year end dale are noted as a commitment but not accrued as expenditure. Investment property Investrnent property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in market value is transferred lo reserves. Taxati¢n The charity is 8xempt from tsx on its charitable activf(1gS. Fund a¢countlng Unrestricted funds can be used in accordance with the charitable objectives 8t Ihe discretion of the Iruslees. Restricted funds can only be used for particular restricted purposes within the objects of the charity- Reslriclions arise when spe¢rfied by the donor or when funds are raised for particular restricted purposes. Further explanatlon of tho nature and purpose of each fund is in¢luded in the notes to the financial statements. Investment Income Stocks and shares quoted on a recognised stock exchange are included in the balance sheet al their mid- market value al the year end. The variances beeen marf(et value and the original cost or annual revaluation of the tnvestments are shown as unrealised investrnent gains or losses in other Charitable funds. Each year the movement, as adjusted for additions, is transferred through the statement of financial activities to other Charitable funds. The differences between the original ¢05t or annu81 valuation and the proceeds of investments disposed of are shown as a gainlllDssI in the statement of financial activities. Bank interest is included in the income and expenditure account on an accruals basis.
Hornsea Church Lands Notes to the Financial Statements - continued INVESTMENT INCOME 2023 2022 Rental incorne received 1 Market Place, Hornsea 3 Market Place. Homsea 6Flat 1, 5 Market Place, Homsea Flat 2. 5 Market Place, Hornsea Flat 3, 5 Market Place, Hornsea 7 Market Place, Hornsea 9 Market Place, Homsea Cheeseman's Farm - Clark lolments 3,450 5,058 4,950 3,268 5,225 5.310 650 5,090 3.OOCI 6.435 5,850 4,08S 4,800 4,400 5,090 34.071 34,500 29.777 27.188 Portfolio income 63,848 61.688 RAISING FUNDS 2023 2022 13,523 6,073 2,037 Portfolio management Propèrty repairs and expenses Insurance Property management 12,303 36,698 2,507 57,324 25,447 GRANTS PAYABLE 2023 2022 £162 736 4S.176 Grants The total grants paid to institutions during the year was as follows.. 2023 2022 £162, 736 Homsea Parochial Church Council 45.176 10
Hornsea Church Lands Notes to the Flnancial Statements - continued SUPPORT COSTS Governance costs Other resources expended Support wsts. included in the above, are as follows.. 2023 Total activities 65 Bank charges Independent examinerfs fees TRUSTEES. REMUNERATION AND BENEFITS There wer8 no trustees, remuneration or other benefrts for the year ended 31st December 2023 nor for the year ended 31st December 2022. Trusteas. expenses There were no trustees. expenses paid for the year ended 31st December 2023 nor for the year ended 31st December 2022. FIXED ASSET INVESTMENTS Listed investments MARKET VALUE At 1st January 2023 Additions Disposals Change in m8rket value At 31 st December 2023 1,004,753 239,596 (215,6231 NET BOOK VALUE At 31 st Dècember 2023 There wer8 no investmènt assets outsida the UK.
Hornsea Church Lands Notes to the Financial Statements - continued INVESTMENT PROPERTY FAIR VALUE At 1 st January 2023 and 31st December 2023 NET BOOK VALUE Al 3.15t December 2023 At 31st DecembeT 2022 Historical cost at 31 December 2023 was £155.503. The property was valued by Leonards Chartered SuNeyors on an open market basi5 in 2016. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 Rental income Investment income 10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 2022 other creditors 11. ANALYSIS OF NET ASSETS BETWEEN FUNDS Unrestricted fijnd 2023 Total fvnd5 2022 Totsl funds Restricted fund 1,250,902 14,284 {36,030) 364,294 9,497 1,615,196 23,781 1,569,753 53,561 Investments Current assets Current liabilities 1,229,156 373,791 1,602,947 1,621,411 12
Hornsea Church Lands Notes to the Financial Statements - continued 12. MOVEMENT IN FUNDS Net movement in funds Al 31.1223 At1.1.23 Unrsstricted funds General fund 1.229.156 1,257,117 127,961) Restricted funds Restricted IFabricl Fund 364.294 9,497 373.791 1602947 TOTAL FUNDS 1.621,411 Nèt movement in funds, included in thè above arg as follows.. Incoming resources Resources expended Gains and 1055es Movement in funds UnrgStrl¢ted funds General fund 18,923 (27,961) 52,520 {99.404) Rèstrieted funds Restricted (Fabric) Fund 11.328 (4,3781 2.547 9,497 TOTAL FUNDS 1103.7821 21,470 {18.4641 Comparatlves for movement in funds Net movement in funds At 31.1222 At1.1.22 Unrestricted funds General fijnd 1.397,274 1140,1571 1,257,117 Restrlcttd funds Restri¢ted IFabric} Fund 604,922 1240,6281 364.294 TOTAL FUNDS 2,002,196 1380,7851 1.621,411 13
Hornsea Church Lands Notes to the Financial Statements - continued 12. MOVEMENT IN FUNDS - continued Comparative net movement in funds. included in the above are as follows.. Incoming Resources resources expanded Gains and losses Movement in funds Unrestrlcted funds General fund 50,825 122,653) 1168.3291 1140.1571 Restrlcted funds Reslricled (Fabric) Fund 10,863 {167,5821 {83,9091 1240,6281 252 238 TOTAL FUNDS 13. RELATED PARTY DISCLOSURES There were no related party transactions for the yeaf ended 31st December 2023. 14