REGISTERED CHARITY NUMBER: 272566 REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 FOR CHURCH LAIYDS ALYD JOHN JOHNSOP4'S ESTATE CHARITIES
CIIURCH L4NDS AND JOHN .JOHNSON'S ESTATE CHARITIES CONTENTS OF THE FINANCIAL STATEMELYrs FOR THE YEAR EL44DED 31 DECEMBER 2023 Page Report of tbe Trustees Independent Examiner'5 Report Statement of Financial Activities Balance Sheet Notes to the Fillancial Statements 8 to 15
CHURCH L4NDS AND JOHN .JOHNSON'S ESTATE CHARITIES REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 The trustees present their report with the financial statements of the charity for the year ended 31 December 2023. 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 l January 2019). OWECTIVES AND ACTIVITIES Objeetii'es and aims The objectii'e of the charity is to maintain endowment funds to generate incotne for distribution to related ¢haritabl¢ organisations of St. Laur¢n¢¢ Ec¢l¢siasti¢al Charities and St. Laur¢n¢¢ R¢li¢f In N¢¢d Trust. Incotne is distributed on a non-discretionary basis in accordance with the deed of trust. The trustccs havc rcfcrrcd to guidanc¢ set out by th¢ Charity Cotnmissioncr's and arc satisfied that thc charitable objectives of the charity and ils related charities satisfy criteria for public benefit. ACHIEVEMENT AND PERFORMANCE Charitable activitils Diiring the year the charity made distributions to related charitable organisations in accordance with its ¢onslilution, as follo8.. 2023 2022 St. Laurence Ecclesiastical Charities Si. Lauren¢¢ Relief In Need Trust 77,180 63,485 81,145 64.152 140,665 145.297 Investment perfornianee Th¢ ¢nd0'mcnt fund fixcd assets cotnpris¢ frcchold investillcnt propcrties and list¢d inv¢sttn¢nts. Th¢ investment properties were fully let during the year at market rentsl iwalues. The return on listed investments was in lin¢ with cxpccthtion for thc ini'¢stm¢nt strafrgy and risk profilc of th¢ Lharity. FINANCL4L REVIEW Investment policy and objectives There are no reslriclions on ih¢ Irust¢¢s' power to invest the ass¢ts of the ¢liarity. Listed investments are low risk and held mainly in tnanaged investtllent funds with a bias towards providing incoine. The investment properties are subj¢¢t lo full tenant repairing leases and held on a long tem) basis for rental yield. Principal funding sources and reserves policy The principal funding sour¢¢s a non-distributabl¢ ¢ndowm¢nt funds h¢ld to s¢¢ur¢ the long t¢mi 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 Plirpose of securing good market rental value may bc recovered from th¢ gcncral rcs¢rvc ovcr th¢ duration of thc rclci'aiit Icaschold tcnancy a¥recmcnt. This policy preserves the investment pool tor the long term legacy and benefit of the combined charities. Page I
CHURCH L4NDS AND JOHN .JOHNSON'S ESTATE CHARITIES REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 STRUCTURE, GOVERNANCE AND LIIANAGEMENT Governing document and trusteeship Th¢ Chiirch Lands and J()hn Johnson's Estate Charities is an unin¢orporat¢d charity and ¢ontroll¢d by ils governing document, a deed of trust dated l January 1942. The charity is under cotnmon trusteeship with two related charitsble organisations of St. Laurence E¢¢l¢siastical Charities (charity no. 203336) and St. Laurence Relief in Need Truqt (charity no. 205043). Recruitment9 appointment and induction of new trustee5 Trustees are carefully selected for their knowledge and experience of charitable organisations. New tnlstees 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 infomiation required to fulfil their role as trustees in accordance with the dccd of trust and the Charities Act 201 l. A trustee tllay retire voluntarily. Organisational structure The Chaimian, Rew C R Jones, has overall respoiisibililv for the Charity and is assisted in this role by the Clerk. The Treasurer is responsible tor the financial manageinent of the charity. The charity engages a firm of ¢hartered surveyors to nianage property investments, stockbrokers to manage listed inveslineiits and lawyers to advise on legal matters. Trustee n)eetings Trustee meetings are held twice a year, one of which is the Annual General Meeting. Risk management The trustees acknoTh'ledge their responsibilit), to identify and review the risks to which the charity is exposed and to ensure appropriat¢ ¢ontrols are in place to proN'id¢ r¢asonabl¢ assuran¢¢ againsl fraud and error. REFEREIYCE AND ADMILYISTRATIVE DETAILS Registered Charity number 272566 Principal address Vicloria House 26 Queen Victoria Street Reading Berkshire RGI ITG Trustees Mrs P Thonias Mrs R P Williams Mr N C Burrow's Mrs R E Pearse Rev C R Jones (Chaimian) DrN A Brown (resigned 2.8.23) Mr L R Smith Page 2
CIIURCH L4NDS AND JOHN .JOHNSON'S ESTATE CHARITIES REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 REFERENCE AND ADMINISTRATIVE DETAILS Independent Examiner Graeine Hobbs FCCA Hobbs Granger Roitt LLP 8g Millars Brook Molly Millars Lane Wokingham Berkshir¢ RG412AD Chairman Rei. C R Jones Treasurer J Pyke FCA Clerk W Sanders Bankers The Royal Bank of Scotland plc Liverpool CSC Stephenson Way Wavertree Liverpool L13 IHE Ins'estment Managers Rcdtnaync-Bciitlcy LLP Market Place House 43 Market Place Henley-on-Thames RG9 2AA Solicitors Blaiidy & Blandy l Friar Street Readiiig Berkshire RGI IDA Chartered Surveyors Simmon8 & Sons 12 Wote Street Basingstoke Haiiipshirc RG217NW Page 3
CHURCH L4NDS AND JOHN .JOHNSON'S ESTATE CHARITIES REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 Approved by order of the board of trustees on . 0510912024 and sigried on its behalf by-. Rev C R Jones - Trustee Page 4
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 F.state Charities I report to the charity trustees on my exaniination of the accoiints of Church Lands and John Johnson's Estate Charities (the Trust) for the year ended 31 Deceniber •023. Responsibilities and basis of report As th¢ charity trustees of the Trust you are responsible for the preparation of the accounts in a¢cordanc¢ wilh 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 ¢arrying out my examination I have followed all appli¢able Directions given by the Charit}, Commission under Section 145(5)(b) of the Act. Independent examiner's Statement I hai'e completed my exaii)ination. I confirm that no Iiiaterial tnatters haN'e cotlle to tny attention in connection with the examination giving me cause to beliei'e that in any material respect.. accounting records were noi kept in respect of the Trust as required by Section 130 of the Act; or th¢ accouiit5 do not accord with those records: or the accounts do not comply with the applicable requirements concerning the fomi and content of accounts sct out in thc Charitics (Accounts and Reports) Regulations 2008 othcr than any rcquir¢mcnt that the accolints give a true and fair view which is not a matter considered as part of an independent cxamination. I haiwe no conccrn5 and hav¢ cotn¢ across no othcr tllattcrs in connection with the cxamination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be rcachcd. Ilobb Graeme Hobbs FCCA Hobbs Granger Roitt LLP 8g Millars Brook Molly Millars Lane Wokingham Bcrkshire RG412AD Date.. 0910912024 Page S
CHURCH L4NDS AND JOHN .JOHNSON'S ESTATE CHARITIES STATENIENT OF FINAP4CIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023 31.12.23 Total fullds 31.12.22 Total funds Unrestricted Endowiiient fund fund Notes INCOME AND ENDOWMENTS FROM Investment income 174,905 174,905 161,5?9 EXPENDITURE ON Raising funds 26,715 26,715 8,854 Charitable activities Rcli¢f in Nccd Ecclesiastical 66081 81J(K9 661181 81 J(P) 67,385 85,290 Total 174,905 174,905 161,529 Nct gains1(Iosscs) on invcstmcnts 19,174 19,174 (65,829) NET INCOMEI(EXPENDrruRE) 19,174 19,174 (65,829) RECONCILIATION OF FUNDS Total funds brought forward 2,60734 2,60734 2,673,363 TOTAL FUNDS CARRIED FORWARD 2,626,708 2,626,708 2,607,534 The notcs fortn part of these financial statements Pagc 6
CHURCH L4NDS AND JOHN .JOHNSON'S ESTATE CHARITIES BALANCE SHEET 31 DECEMBER 2023 31.12.23 Total fullds 31.12.22 Total funds Unrestricted Endowiiient fund fund Notes FIXED ASSETS Investments IneStme111$ InN'¢stm¢nt property 836277 1,810,1)02 836,277 1,810,002 802.434 1,810,002 2,646279 2,646279 2,612,436 CURRENT ASSETS Debtc)rs Cash al bank 10 16,740 24,793 16,740 24,793 14,577 157,023 41533 41533 171,600 CREDITORS Atllounts falling due within one ycar (61,104) (61,104) (176,50• NET CURRENT ASSETS (1971) (19571) {4,902) TOTAL ASSETS LESS CURRENT LIABILITIES 2,626,708 2,626,708 2,607,534 NET ASSETS 2,626,708 2,626,708 2,607,534 12 Endowment funds 2,626,708 2,607,534 TOTAL FUNDS 2,626,708 2,607,534 The financial statements ivere approved by the Board of Trustees and authorised for issue on 0510912024 . and were signed on its behalf by.. Rev C R Jones - Trustee The notcs fortn part of these financial statements Pagc 7
CIIURCH L4NDS AND JOHN .JOHNSON'S ESTATE CHARITIES OTES TO THE FILYATrICIAL STATEMELYTS FOR THE YEAR ENDED 31 DECEMBER 2023 STATUTORY INFORMATION The Church Lands and John Johnson's Estate c.harities is registered with The Charity Commission (registration number 272566). The principal address is Victoria House, 26 Qii¢en Victoria Sir¢el, Reading. Berkshire. The charity operates in Reading, Berkshire. ACCOUNTING POLICIES Basis of preparing the financial statements The financial siAtements of the charity, i¥hich is a public benefit entity under FRS 102, have been prepared in accordance with the Charitie5 SORP IFRS 102) 'Accouiiting and Reporting by Charities.. Statement of Recoinmended Practice applicable to charities preparing their accounts in accordance with the Financial Rcportiiig Standard applicable in the UK and Republic of Ireland (FRS 102) (etyectii'e l January ?019)', 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 includ¢d at markct value, as modified by the revaluation of ccrtain ass¢ts. Incoming resources All incoming resources are included on the Stateiiient 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 aggr¢gal¢ all cost relared lo the ¢ategory. Where costs cannot b¢ directly altribuied lo particular headings they have been allocated to activities on a basis consistent with the use of resources. Cost of generating funds compriKs th05C Costs dircctly attributsble to tnanaging thc invcsttllcnt portfolio. raising investment income and collecting rental income. Ch<iritable activities expenditiire coiiipri5CS thc distribution to the two bcncficiary charitable organisations. Support costs cotnpris¢ management and administration costs for the running of the charity itself as an organisation. Goiwcrnance costs includc th05c in thc govcrnancc of it asscts and arc pritllarily associatcd with constitutional and statutory requirements. Grants offered subject to conditions which have not been met at the year end date are noted as a coinmitment but not accrucd as cxpenditure. Investment property Ini'¢stm¢nt propcrty is sliown at Inost r¢Lcnt valuation. Any a¥grc¥atc surplus or deficit arising from changes in fair value is recognised in the Statement of Financial Actii'ities. Taxation The charity is exempt from tax on its charitable activities. Fund aeeounting Gcncral fund5 are unrestricted funds which are available for use in accordance with the charitable objective. Endowment funds represent those assets which must be held pern)anently b! the charity, principally ini'cstmcnts. Incotne arising on the endowiiicnt funds can only be used in accordance with the objects of the charity. Any capital gains or losses arising on the investments form part of the fund. Page 8 continued...
CIIURCH L4NDS AND JOHN .JOHNSON'S ESTATE CHARITIES NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2023 ACCOUNTING POLICIES - continued Fund #¢counting Th¢ ¢osts of administering and managing th¢ g¢n¢ral and endowment funds ar¢ ¢harg¢d against the appropriate fund. Investii)ent incon)e and gains are allocated to the appropriate fui)d. Going eoneern Tlic trustees consider that there are no material uncertainties about the Trust's ability to continue as a going concern. llYVESTMEIYT INCOME 31.12.23 31.12.22 Rents received Investinent income Deposit account interest 140,382 33,259 1,264 130.091 31,18? 256 174,905 161,529 RAISING FUNDS Investment mallagemellt costs 31.12.23 31.12.22 StOLkbroker service charges Professional fees Rent collection fees Other property ¢xp¢ns¢s 75 8,206 10,023 8,411 40 2,636 6.218 26,71S 8,894 Page 9 continued...
CIIURCH L4NDS AND JOHN .JOHNSON'S ESTATE CHARITIES NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2023 CHARITABLE ACTIVITIES COSTS Graiit funding of activities Support costs (see noie 6} Toials Relief in Need Ecclcsiastical 63,485 77,180 3,396 4,129 66,881 81,309 140,665 7,525 148,190 SUPPORT COSTS Governan¢¢ costs Finance Totsls Relief in Need Ecclesiastical 1,369 1,665 2,027 2,464 3,396 4,129 3,034 4,491 TRUSTEES, REMUNEILITION AND BENEFITS There were no trustees, remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022. Trustees, expenses There w¢r¢ no trustees, expenses paid for the y¢ar ended 31 De¢ember 2023 nor for the year ¢nd¢d 31 December 2022. Page 10 continued...
CIIURCH L4NDS AND JOHN .JOHNSON'S ESTATE CHARITIES NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2023 FIXED ASSET INVESTMETr4TS 31.12.23 31.12.22 Listed ineStmentS Stockbroking cash accounts 815,034 21,242 795,860 6,574 836.277 802,434 Listed investments MARKET VALUE At l January 2023 Additions Disposals Market movement 795,860 19,174 At 31 December 2023 815,034 NET BOOK VALUE At 31 Dcccmber 2023 815,034 At 31 Decetnber 2022 795.860 The list¢d investments ¢omprise'. 31.12.23 31.12.22 UK Fixed interest se¢urili¢s UK Iiivestinent trust and unit trust funds 145,320 669,714 138,763 657.097 815.034 795,860 The historical cost of listed investments is £505,638 (2022 - £505,638). Page 11 continued...
CIIURCH L4NDS AND JOHN .JOHNSON'S ESTATE CHARITIES NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2023 ll¥VESTMENT PROPERTY FAIR VALUE At l January 2023 and 31 December 2023 1,810,002 NET BOOK VALUE At 31 December 2023 1,810,002 At 31 D¢¢¢inb¢r 9022 1,810,009 Cost or valuation at 31 December 2023 is represented by.. Valuation Historic cost 1,539.625 ?70,377 1,810,002 Ini'estment property was last exteriially 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 Il)e market valu¢ as at the Balance Sheet date. 10. DEBTORS: AMOUTr4TS FALLING DUE WITHIN ONE YEAR 31.12.23 31.12.22 Other debtors Prcpaymcnts and accrued income 6.829 7,748 7,141 16,740 14.577 Page 12 continued...
CIIURCH L4NDS AND JOHN .JOHNSON'S ESTATE CHARITIES NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2023 I I. CREDITORS: AMOUTr4TS FALLING DUE WITHIN ONE YEAR 31.12.23 31.12.22 Other crcditors 61,104 176.502 12. MOVEMENT IN FUNDS Net movement in funds At 31.12.23 At 1.1.23 Endowment funds Endowment Funds 2,607,534 19,174 2,626,708 TOTAL FUNDS 2,607,534 19,174 2,626,708 Net moverllent in funds, included in the above are as follo'S-. Incoming resources Resources expended Gains and Movement losses in funds Endowmellt funds Endowtnent Funds 174,905 (174,905) 19,174 19,174 TOTAL FUNDS 174,905 (174,905) 19,174 19,174 Comparatives for movement in funds Net iiiovement in funds Ai 31.12.22 At 1.1.22 Endowment funds Endowment Funds ?,673.363 (65.829) 2,607,534 TOTAL FUNDS 2,673,363 (65,829) 2,607,534 Page 13 continued...
CIIURCH L4NDS AND JOHN .JOHNSON'S ESTATE CHARITIES NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2023 12. MOVEMETr4T IN FUNDS- continued Comparative net movement in funds, included in the above are as follows.. Inconiing r¢sources Resources expended Gains and MoN'ement losses iii funds Endowmellt funds Endowm¢nt Funds 161,529 (161,529) {65,8?9) (65,829) TOTAL FUNDS 161,5?9 (161,5?9) (65,8?9) (65,829) A current year 12 months and prior year 12 months combined position is as follows.. Net movement in funds At 31.12.23 At 1.1.22 Endowment funds Endowment Funds 2,673,J63 (46,655) 2,626.708 TOTAL FUNDS 2,673,363 {46,655) 2,626.708 A currcnt year 12 months and prior ycar 12 tnonths combincd net movcincnt in funds, includcd in thc above are as follows: Incoming rc50urces Resources cxpcnd¢d Gains and Movement losscs in funds Endowment funds Endowtnent Funds 336,434 (336,434) {46,655) (46,655) TOTAL FUNDS 336,434 (336,434) (46,655) (46,655) The general fund represents the annual investment income as generated by the endowment fund and the distribution of n¢t income lo r¢lat¢d charitabl¢ organisations in a¢¢ordan¢¢ wilh the ¢haritabl¢ objectives. The endowment fund represents the non distributable investment of the charity held to secure the long t¢rm funding of the ¢haritabl¢ obje¢tiv¢s. Page 14 continued...
CIIURCH L4NDS AND JOHN .JOHNSON'S ESTATE CHARITIES NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 DECEMBER 2023 13. RELATED PARTY DISCLOSURES St. Laurence Ecelesi&LStieal Charities St. Laurence Ecclesiastical c.harities share common trusteeship ivith the charity and is a beneficiary of its distributable in¢om¢. During the year the charity made distributions of £63,485 {2022: £81,145) and at the year end the charity owed £26,390 to this related party (2022.. £76,534 owed to the charity). St. Laurenee Relief in Need Trust St. Laurcncc Rclief in Necd Trust shares comiiioii trustccsliip with the charity aiid is a beneficiary of its distributable income. During the year the charity made distributions of £77,180 {2022: £64,152) and at the year end the charity owed £33,714 to this related party1202*: £82,904). Vale & West Thc trcasurcr, Mr Pykc is a partner with Val¢ & West Chartcrcd Accountants. During the ycar the charity paid Vale & West £2,706 (2022.. £2,706) for accountancy services. Blandy & Blandy Mr N C Burrows is a trustee and a partner ivith Blandy & Blandy. During the year the charity paid Blandy & Blandy £6,634 (202?: £354) for legal s¢rvi¢es. Page15