2021-12-31-accounts

REGISTERED CHARITY NUMBER: 272566

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

FOR

CHURCH LANDS AND JOHN JOHNSON'S ESTATE CHARITIES

CHURCH LANDS AND JOHN JOHNSON'S ESTATE CHARITIES

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

	Page
Report of the Trustees	1 to 4
Independent Examiner's Report	5
Statement of Financial Activities	6
Balance Sheet	7
Notes to the Financial Statements	8 to 15

CHURCH LANDS AND JOHN JOHNSON'S ESTATE CHARITIES

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021

The trustees present their report with the financial statements of the charity for the year ended 31 December 2021. The trustees have adopted the provisions of 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 (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The objective of the charity is to maintain endowment funds to generate income for distribution to related charitable organisations of St. Laurence Ecclesiastical Charities and St. Laurence Relief In Need Trust. Income is distributed on a non-discretionary basis in accordance with the deed of trust.

The trustees have referred to guidance set out by the Charity Commissioner's and are satisfied that the charitable objectives of the charity and its related charities satisfy criteria for public benefit.

ACHIEVEMENT AND PERFORMANCE

Charitable activities

During the year the charity made distributions to related charitable organisations in accordance with its constitution, as follows:

St. Laurence Ecclesiastical Charities St. Laurence Relief In Need Trust	2021 £ 71,647 56,880 128,527	2020 £ 88,938 64,969 153,907

Investment performance

The endowment fund fixed assets comprise freehold investment properties and listed investments. The investment properties were fully let during the year at market rental values. The return on listed investments was in line with expectation for the investment strategy and risk profile of the charity.

FINANCIAL REVIEW

Investment policy and objectives

There are no restrictions on the trustees' power to invest the assets of the charity. Listed investments are low risk and held mainly in managed investment funds with a bias towards providing income. The investment properties are subject to full tenant repairing leases and held on a long term basis for rental yield.

Principal funding sources and reserves policy

The principal funding sources are non-distributable endowment funds held to secure the long term funding of the charitable objectives. All investment income less management and capital repair costs are distributed to related charities on an annual basis.

Capital repair costs to freehold property incurred for the purpose of securing good market rental value may be recovered from the general reserve over the duration of the relevant leasehold tenancy agreement. This policy preserves the investment pool for the long term legacy and benefit of the combined charities.

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CHURCH LANDS AND JOHN JOHNSON'S ESTATE CHARITIES

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document and trusteeship

The Church Lands and John Johnson's Estate Charities is an unincorporated charity and controlled by its governing document, a deed of trust dated 1 January 1942.

The charity is under common trusteeship with two related charitable organisations of St. Laurence Ecclesiastical Charities (charity no. 203336) and St. Laurence Relief in Need Trust (charity no. 205043).

Recruitment, appointment and induction of new trustees

Trustees are carefully selected for their knowledge and experience of charitable organisations. New trustees are elected at the Annual General Meeting. Newly appointed trustees are inducted to the work of the charity by the chairman and provided with all information required to fulfil their role as trustees in accordance with the deed of trust and the Charities Act 2011. A trustee may retire voluntarily.

Organisational structure

The Chairman, Rev C R Jones, has overall responsibility for the charity and is assisted in this role by the Clerk. The Treasurer is responsible for the financial management of the charity. The charity engages a firm of chartered surveyors to manage property investments, stockbrokers to manage listed investments and lawyers to advise on legal matters.

Trustee meetings

Trustee meetings are held twice a year, one of which is the Annual General Meeting.

Risk management

The trustees acknowledge their responsibility to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Charity number

272566

Principal address

Victoria House 26 Queen Victoria Street Reading Berkshire RG1 1TG

Trustees

Mrs P Thomas Mrs R P Williams Mr N C Burrows Dr R A L Macleod (resigned 18.5.21) Mrs R E Pearse Rev C R Jones Dr N A Brown Mr L R Smith (appointed 4.7.21)

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CHURCH LANDS AND JOHN JOHNSON'S ESTATE CHARITIES

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021

REFERENCE AND ADMINISTRATIVE DETAILS Independent Examiner

Graeme Hobbs FCCA Chartered Certified Accountant Hobbs Granger Roitt LLP 8f Millars Brook Molly Millars Lane Wokingham Berkshire RG41 2AD

Chairman

Rev C R Jones

Treasurer J Pyke ACA

Clerk

C Hubbard

Bankers

The Royal Bank of Scotland plc 17/27 Station Road Reading Berkshire RG1 1LG

Investment Managers

Redmayne-Bentley LLP Market Place House 43 Market Place Henley-on-Thames RG9 2AA

Solicitors

Blandy & Blandy 1 Friar Street Reading Berkshire RG1 1DA

Chartered Surveyors

Dunster and Morton 6 Southern Court South Street Reading Berkshire RG1 4QS

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CHURCH LANDS AND JOHN JOHNSON'S ESTATE CHARITIES

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021

Approved by order of the board of trustees on 12 September 2022 and signed on its behalf by:

Rev C R Jones - Trustee

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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CHURCH LANDS AND JOHN JOHNSON'S ESTATE CHARITIES

Independent examiner's report to the trustees of Church Lands and John Johnson's Estate Charities I report to the charity trustees on my examination of the accounts of Church Lands and John Johnson's Estate Charities (the Trust) for the year ended 31 December 2021.

Responsibilities 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 Charities Act 2011 ('the Act').

I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or

2. the accounts do not accord with those records; or

3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts 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 concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Graeme Hobbs FCCA Chartered Certified Accountant Hobbs Granger Roitt LLP 8f Millars Brook Molly Millars Lane Wokingham Berkshire RG41 2AD

15 September 2022

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CHURCH LANDS AND JOHN JOHNSON'S ESTATE CHARITIES

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2021

Notes INCOME AND ENDOWMENTS FROM Investment income 3 EXPENDITURE ON Raising funds 4 Charitable activities 5 Relief in Need Ecclesiastical Total Net gains/(losses) on investments NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD	Unrestricted fund £ - - - - - - - - -	Endowment fund £ 149,385 13,566 60,108 75,711 149,385 61,718 61,718 2,611,645 2,673,363	31.12.21 Total funds £ 149,385 13,566 60,108 75,711 149,385 61,718 61,718 2,611,645 2,673,363	31.12.20 Total funds £ 145,583 13,856 67,849 92,868 174,573 (565,622) (594,612) 3,206,257 2,611,645

The notes form part of these financial statements

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CHURCH LANDS AND JOHN JOHNSON'S ESTATE CHARITIES

BALANCE SHEET 31 DECEMBER 2021

Notes FIXED ASSETS Investments Investments 8 Investment property 9 CURRENT ASSETS Debtors 10 Cash at bank CREDITORS Amounts falling due within one year 11 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 12 Endowment funds TOTAL FUNDS	Unrestricted fund £ - - - - - - - - - -	Endowment fund £ 863,361 1,810,002 2,673,363 43,425 25,800 69,225 (69,225) - 2,673,363 2,673,363	31.12.21 Total funds £ 863,361 1,810,002 2,673,363 43,425 25,800 69,225 (69,225) - 2,673,363 2,673,363 2,673,363 2,673,363	31.12.20 Total funds £ 801,643 1,810,002 2,611,645 6,005 94,972 100,977 (100,977) - 2,611,645 2,611,645 2,611,645 2,611,645

The financial statements were approved by the Board of Trustees and authorised for issue on 12 September 2022 and were signed on its behalf by:

Rev C R Jones - Trustee

The notes form part of these financial statements

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CHURCH LANDS AND JOHN JOHNSON'S ESTATE CHARITIES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

1. STATUTORY INFORMATION

The Church Lands and John Johnson's Estate Charities is registered with The Charity Commission (registration number 272566). The principal address is Victoria House, 26 Queen Victoria Street, Reading, Berkshire. The charity operates in Reading, Berkshire.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.

Incoming resources

All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.

Resources expended

Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Cost of generating funds comprises those costs directly attributable to managing the investment portfolio, raising investment income and collecting rental income. Charitable activities expenditure comprises the distribution to the two beneficiary charitable organisations. Support costs comprise management and administration costs for the running of the charity itself as an organisation. Governance costs include those in the governance of it assets and are primarily associated with constitutional and statutory requirements.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Statement of Financial Activities.

Taxation

The charity is exempt from tax on its charitable activities.

Fund accounting

General funds are unrestricted funds which are available for use in accordance with the charitable objective.

continued...

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CHURCH LANDS AND JOHN JOHNSON'S ESTATE CHARITIES

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021

2. ACCOUNTING POLICIES - continued

Fund accounting

Endowment funds represent those assets which must be held permanently by the charity, principally investments. Income arising on the endowment funds can be used in accordance with the objects of the charity and is included as unrestricted income. Any capital gains or losses arising on the investments form part of the fund.

The costs of administering and managing the general and endowment funds are charged against the general fund. Investment income and gains are allocated to the appropriate fund.

Going concern

The trustees consider that there are no material uncertainties about the Trust's ability to continue as a going concern.

3. INVESTMENT INCOME

Rents received Investment income Deposit account interest RAISING FUNDS Investment management costs Professional fees Rent collection fees	31.12.21 £ 120,003 29,480 (98) 149,385 31.12.21 £ 6,366 7,200 13,566	31.12.20 £ 117,964 27,552 67 145,583 31.12.20 £ 7,078 6,778 13,856

4. RAISING FUNDS

continued...

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CHURCH LANDS AND JOHN JOHNSON'S ESTATE CHARITIES

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021

5. CHARITABLE ACTIVITIES COSTS

Relief in Need Ecclesiastical	Grant funding of activities £ 56,880 71,647 128,527	Support costs (see note 6) £ 3,228 4,064 7,292	Totals £ 60,108 75,711 135,819

6. SUPPORT COSTS

Governance Finance costs £ £ Relief in Need 1,316 1,912 Ecclesiastical 1,657 2,407 2,973 4,319	Totals £ 3,228 4,064 7,292

7. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2021 nor for the year ended 31 December 2020.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 December 2021 nor for the year ended 31 December 2020.

continued...

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CHURCH LANDS AND JOHN JOHNSON'S ESTATE CHARITIES

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021

8. FIXED ASSET INVESTMENTS

Listed investments Stockbroking cash accounts MARKET VALUE At 1 January 2020 Additions Disposals Market movement At 31 December 2021 NET BOOK VALUE At 31 December 2021 At 31 December 2020 The listed investments comprise: UK Fixed interest securities UK Investment trust and unit trust funds	31.12.21 £ 861,689 1,672 863,361 Listed investments £ 799,971 - - 61,718 861,689 861,689 799,971 31.12.21 £ 172,179 689,510 861,689	31.12.20 £ 799,971 1,672 801,643 31.12.20 £ 181,706 618,265 799,971

The historical cost of listed investments is £505,638 (2020 - £505,638).

Since the balance sheet date, the market value of the listed investments has, due to market movement fluctuations, decreased by £57,379 to £804,310.

continued...

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CHURCH LANDS AND JOHN JOHNSON'S ESTATE CHARITIES

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021

9. INVESTMENT PROPERTY

£

INVESTMENT PROPERTY		£
FAIR VALUE At 1 January 2021 and 31 December 2021 NET BOOK VALUE At 31 December 2021 At 31 December 2020 Cost or valuation at 31 December 2021 is represented by:		1,810,002 1,810,002 1,810,002
Valuation Historic cost		£ 1,539,625 270,377 1,810,002

Investment property was last externally valued on an open market basis at 31 December 2020 by Dunster and Morton, Chartered Surveyors, and the trustees consider this to be an appropriate estimation of the market value as at the Balance Sheet date.

10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

DEBTORS: AMOUNTS FALLING DUE WITHIN	ONE YEAR
Other debtors	31.12.21 31.12.20 £ £ 39,999 2,158
Prepayments and accrued income	3,426 3,847
	43,425 6,005

continued...

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CHURCH LANDS AND JOHN JOHNSON'S ESTATE CHARITIES

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021

11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Other creditors 12. MOVEMENT IN FUNDS At 1.1.21 £ Endowment funds Endowment Funds 2,611,645 TOTAL FUNDS 2,611,645 Net movement in funds, included in the above are as follows: Incoming Resources resources expended £ £ Endowment funds Endowment Funds 149,385 (149,385) TOTAL FUNDS 149,385 (149,385) Comparatives for movement in funds At 1.1.20 £ Endowment funds Endowment Funds 3,206,257 TOTAL FUNDS 3,206,257		31.12.21 £ 69,225 Net movement in funds £ 61,718 61,718 Gains and losses £ 61,718 61,718 Net movement in funds £ (594,612) (594,612)	31.12.20 £ 100,977 At 31.12.21 £ 2,673,363 2,673,363 Movement in funds £ 61,718 61,718 At 31.12.20 £ 2,611,645 2,611,645

continued...

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CHURCH LANDS AND JOHN JOHNSON'S ESTATE CHARITIES

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021

12. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Endowment funds Endowment Funds TOTAL FUNDS	Incoming resources £ 145,583 145,583	Resources expended £ (174,573) (174,573)	Gains and Movement losses in funds £ £ (565,622) (594,612) (565,622) (594,612)

A current year 12 months and prior year 12 months combined position is as follows:

Endowment funds Endowment Funds TOTAL FUNDS	At 1.1.20 £ 3,206,257 3,206,257	Net movement in funds £ (532,894) (532,894)	At 31.12.21 £ 2,673,363 2,673,363

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Endowment funds Endowment Funds TOTAL FUNDS	Incoming resources £ 294,968 294,968	Resources expended £ (323,958) (323,958)	Gains and Movement losses in funds £ £ (503,904) (532,894) (503,904) (532,894)

The general fund represents the annual investment income as generated by the endowment fund and the distribution of net income to related charitable organisations in accordance with the charitable objectives.

The endowment fund represents the non distributable investment of the charity held to secure the long term funding of the charitable objectives.

continued...

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CHURCH LANDS AND JOHN JOHNSON'S ESTATE CHARITIES

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2021

13. RELATED PARTY DISCLOSURES

St. Laurence Ecclesiastical Charities

St. Laurence Ecclesiastical Charities share common trusteeship with the charity and is a beneficiary of its distributable income. During the year the charity made distributions of £71,647 (2020: £88,938) and at the year end the charity was owed £4,611 from this related party (2020: £33,742 owed by the charity).

St. Laurence Relief in Need Trust

St. Laurence Relief in Need Trust shares common trusteeship with the charity and is a beneficiary of its distributable income. During the year the charity made distributions of £56,880 (2020: £64,969) and at the year end the charity owed £18,752 to this related party (2020: £18,872).

Vale & West

The treasurer, Mr Pyke is a partner with Vale & West Chartered Accountants. During the year the charity paid Vale & West £2,580 (2020: £2,580) for accountancy services.

Blandy & Blandy

Mr N C Burrows is a trustee and a partner with Blandy & Blandy. During the year the charity paid Blandy & Blandy £1,206 for legal services.

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