REGISTERED CHARITY NUMBER: 272566 REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENT.S FOR THE YEAR ENDED 31 DECEMBER 2024 FOR CHURCH LANDS AND JOHN JOHNSON'S ESTATE CHARITIF.S CHURCH LANDS AND JOHN JOHNSON'S ESTATE CHARITIES CONTF.NTS OF THF. FINANCIAL STATF.MF.NTS FOR THE YEAR ENDED 31 DECEMBER 2024 Page Report of the Trustees Independent E￿MIner'S Report Statement oc Financial Actii'ities Balance Shee¢ Notes to the Financial Statements 8 io 16 CHURCH LANDS AND JOHN JOHNSON'S ESTATE CHARITIES REPORT OF THE TRUSTEES FOR THE YEAR EIYDED 31 DECEMBER 2024 The trustees present their report wilh ihe financial statements of the eharil) for the year ended 31 Deceinber 2024. The trustees have adopted the pro￿ls10￿S of Accountiiig and Reporting by Charities.. Statement of Recommended Practice appli¢abl¢ io ¢hariti¢s preparing Iheir a¢¢ounts in ac¢ordan¢e with Ilie Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) (effective l January 2019). OBJECTIVES AND ACTIVITIES Objectives and aims The objeLlive of ihe ¢hariN is io mainiain endowmeni funds io gen¢rai¢ income for disiribulion lo r¢lal¢d charitable organisations of St. Laurence Ecclesiaslical Cliarities aiid St. Laurence Relief In Need Trust. Income is distributed on a non-dis¢reiionary basis in accordance with ihe deed of trust. The irusiees have referred to guidan¢e sel oui by the Chariiy Commissioner's and are saiisfied thal the eharilable objectives of the charity and its related charities satisfy criteria for public benefit. ACHIEVEMENT AND PERFORMANCE Charitable activities DLiringJ the year the charity made distributions to related charitabl¢ organisalions in accordance with its consliiulion. as follows.. 2024 2023 St. Laurence E¢clesiasli¢al Charities St. Laurence Relief In Need Trust 71.064 60.5?5 77.180 63.485 131.589 140.665 Inveglment percormance Th¢ Cndowmcnt fund fixcd assets comprise frcchold invcslmenl propcrties and listed invesin)¢nls. Tlie investment properties were fully let during the year at market rental values. The relurn on listed investments was in line with expectalion for the inveslment slrategy and risk profile of the charity. FINANCIAL REVIEW Investment polie). and objeetives There are no restriction5 on the Irustees, ￿*Wer to invest the as5els of the charity. Listed inN'eslments are low risk and held mainlv in managed invesiment flinds with a bias towards providing income. The inveslment properties are subject lo full tenant rcpairing leases and held on a long tern) basis for rental yield. Page I CHURCH LANDS AND JOHN JOHNSON'S ESTATE CHARITIES REPORT OF THE TRUSTEES FOR THE YEAR EIYDED 31 DECEMBER 2024 FINANCIAL REVIEW Principal funding sources and reserves policy The principal fuiiding sources are noii-distriburable endowment funds held to secure the long term fi]nding of the charitable objectives. All investTnenl income les5 management and capital rcpair costs are distributed to related ¢harities on an annual basis. Capiial r¢pair costs to fr¢¢hold property incurred for ihe purwse of s¢¢uring good market rental valu¢ may be recovered froiii the general reserve over the duration of the relevanl leasehold teiianc). agreement. 'l-his policy preserves ihe invesimeni pool for rhe long ierni lega¢>' and benefii of ihe Combined charities. STRUCTURE. GOVERNANCE AND MANAGEMENT Governing document and trusteeship The Chiirch Lands aiid John Johnson's Eslaie Chariiies is an unincorporated charity and conlrolled by its governing document. a deed oftrust daled l January 194? The Lharity is under common trusteeship with two related charilable organisalions of St. Laurence Ecclesiastical Charities (charity no. 2033361 and St. Laurence Relief in Need Trusi {charily no. 205043). Recruitment. 4ppointment and induetion of new. Irugteeg Tru%lLL% arL car¥lLIIIy .%LIL¢ILd for ili¢ir knoi¥lcdgvL ai)d LxpLrience of charithble org¥aiiisalions. New Iruslees are eleclLd al the Annual General Meeting. Nem'ly appointcd Iruslees are inducted to tlie work of ilie charitv by tli¢ chairman and providcd th iih all inlom)aiion required io fulfil iheir role as irustees ii) accordance wilh the deed of trLlSt and IhL Cliarilies Act 2011. A Iruslee may retire voluntarily. Organisational structure 'l-he L hairinan, Rev C R Jones. has overall responsibility for the charity and is assisled in this role by the Clerk. The Treasurer is responsible for ihe financial managemeni of the cliariiy. Tlie charil>' engagie5 a firin of chartered surveyi)rs t() manage property investments. stockbrokers to manage listed investments and lawyers to advise on legal niatter5. Trustee meetings Trustee meetings are held tw'ice a year, one of ivhich is the Annual General Meeting. Ri8k management The trustees acknowledge their responsibility to identify. and review the risks to which the cliarity is exposed and lo ensur¢ appropriat¢ ¢onirols ar¢ in pla¢¢ lo provide reasonabl¢ a5suran¢e againsi fraud and e￿or. REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number ?72566 Page 2 CHURCH LANDS AND JOHN JOHNSON'S ESTATE CHARITIES REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 Principal address Victoria House 26 Queen Victoria Street Reading Berkshire RGI ITG Tru.qlees Mrs P Thoiiias Mrs R P Williams Mr N C Burrows Mrs R F. Pearse Rev C R Jones (Chairnian) MT I. K Stllith Independent Examiner Graeiiie I li)bb5 F'I'L A Hobbs Granger Roilt LLP I I lJenienl and administration costs for ihe running of ihe charity itself as an organisation. Governance costs include thos¢ in th¢ gov¢manc¢ of il 8s5¢1s and ar¢ primarily asso¢ial¢d with ¢onstitutional and statulory requirements. Grants otfered subject to condilions which have not been met at the year end date are noted as a ¢ommitmeni but not accrued as expenditure. Investment property. Invegiment property is shown at most re¢enl valuaiion. An) aggregate surplus or defi¢it arising from changes in fair value is recognised in the Stalemeiit of Finaiicial Activities. Taxation The charity is exetnpt frotn tax on its charitable activities. Fund accounting General funds are unrestricted fund5 which are available for use in accordance with the charitable obj¢¢iiv¢. Page 8 continued... CHURCH LANDS AND JOHN JOHNSON'S ESTATE CHARITIES NOTES TO THE FINANCIAL STATEMENTS- Continued FOR THE YEAR EIYDED 31 DECEMBER 2024 ACCOUNTING POLICIES- ¢olltinued Fund accounting Endowment funds represent ih05e assets which musi be held permaiieiiily by thc charity, principally ini'estments. Income arising on the endowmeni funds can onl), be used in accordance with the objects of the charily. Any capital gains or Ios5e5 arising on the invc5tments form part of the fund. The costs of administering and managing the general and endoiviiienl funds are charged against tlie appropriate fund. Invesiment income and gains are allocated io ihe appropriaie fund. Going concern The irusiees consider Ihal there are no maierial uncertainties about the Trust's ability to continue as a goingT concern. INVESTMENT INCOME 31.12.24 31.12.23 Renis re¢eived InvLsimenl income DLPOSIt account int¢resl Bank ¢omp¢nsation 137.820 140.382 33.259 1.272 500 174.787 174.905 RAISING FUNDS Investment mana%emeDt Costs 31.12.24 31.12 •3 Stockbroker service charges Professional fees Renl collection fees Other property expenses Bad debts 100 1,906 8,417 23,628 1,644 75 8.206 l 0,0?3 8,411 35,695 26,715 Other property ¢osts include ¢xp¢nses asso¢iat¢d with property r¢pairs, g¢n¢ral maint¢nan¢¢ and insurance. Page 9 eontinued... CHURCH LANDS AND JOHN JOHNSON'S ESTATE CHARITIES NOTES TO THE FINANCIAL STATEMENTS- Continued FOR THE YEAR EIYDED 31 DECEMBER 2024 CHARITABLE ACTIVITIES COSTS Granl funding of activities Support costs (see note 6} Totals Relief in Need Ec¢l¢siasli¢al 60,525 71,064 3,451 4,052 63,976 75,116 131589 7,503 139,092 SUPPORT COSTS Governance costs Finance Totals Relief in Need ELclesiasliLal lJ94 1,636 3.4.$1 4,052 2,416 3,030 4,473 SLlPPOrt cosis. included in Ihe above. are as follows: 31.12.24 'I'olal aciivilies 31.12.23 'I'otal aciivities Relief in Nc¢d Ecclesiasiical Bank ¢hargT¢S Clerk's salary and ¢xp¢ns¢s I'r¢asur¢r's fees TrLlSt¢es and o￿l¢erS liabilil y insuran¢¢ RLporiing aLcoun¢anls fees 32 lJ62 1245 323 489 37 1.£99 1.461 38¢) 575 69 2,961 2.706 703 1,064 73 2,961 2,706 689 1,096 3,451 4.052 7,503 7,525 Pag¢ 10 ¢ontinu¢d... CHURCH LANDS AND JOHN JOHNSON'S ESTATE CHARITIES NOTES TO THE FINANCIAL STATEMENTS- Continued FOR THE YEAR EIYDED 31 DECEMBER 2024 TRUSTEES, REMUNERATION AND BENEFITS There were no iru8i¢es' remuneration or oiher benefiis for ihe year ended 31 December 2024 nor for Ihe year ended 31 December 202J. Trustees, expenses There were no irusi¢es' ex￿nSeS paid for the year ended 31 D¢¢ember 2024 nor for Ihe year ended 31 December 2023. Page 11 continued... CHURCH LANDS AND JOHN JOHNSON'S ESTATE CHARITIES NOTES TO THE FINANCIAL STATEMENTS- Continued FOR THE YEAR EIYDED 31 DECEMBER 2024 FIXED ASSET INVESTMENTS 31.12.24 31.12.23 Listed investments Sio¢kbroking cash a¢cout)Is 849J25 4072 815,034 21,242 854,197 836,277 Li%ted ini'eslments MARKET VALUE Ai i January 2024 Addili()ns Disposals Market movement 815,034 34,291 At 31 December 2024 849J25 NF.T BOOK VALUF AI 31 DL¥LmbLr ?0?4 849J25 At 31 Deeetnber 2023 815,034 The listed investments comprise.. 31.12.24 31.12.•3 UK Fixed interest 5ecLirities UK Investinent Irusl and unit trust funds 142,76S 145,320 669,714 849J25 815,034 The historical cost of listed investments is £505.638 (2023 - £S05,638)- Page 12 continued... CHURCH LANDS AND JOHN JOHNSON'S ESTATE CHARITIES NOTES TO THE FINANCIAL STATEMENTS- Continued FOR THE YEAR EIYDED 31 DECEMBER 2024 INVESTMENT PROPERTY FAIR VALUE At l January 20?4 and 31 December 2024 1810,002 NF.T BOOK VALUE Ai 31 December ?0?4 1,81n,002 At 31 December 2023 1.810,002 c.ost or valuation al 31 DeCeM￿r ?0?4 is represenled by.. Valiiation Historic cost 1.539.625 270.377 1.810.002 Invesiment property was lasi externall>' valued on an open markei basis at 31 December 2020 by Dui)sler and Morton. Chartir¢d Surv¢yors. and Ihe Irust¢¢s consider this lo be an appropriate eslimalion of (he n)£1rkcl value as ai (he Balance Sheei dale. io. DEBTORS: AMOUNTS FALLING DUE WITHIN OIYE YEAR 31.12.24 31.12.23 Other d¢btors Prepayments and accrued income 14,416 11,488 9.599 7.141 16,740 Page 13 eontinued... CHURCH LANDS AND JOHN JOHNSON'S ESTATE CHARITIES NOTES TO THE FINANCIAL STATEMENTS- Continued FOR THE YEAR EIYDED 31 DECEMBER 2024 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.12.24 31.12.23 Other creditors 100,490 61,104 12. MOVEMENT IN FUNDS Nel movcmcnt in tunds At 31.12.24 Ai 1.1.24 Endowment funds Endowment Funds 2,626,708 34,291 2,660,999 TOTAL FUNDS 2.626.708 34.291 2.660.999 N¢1 mov¢m¢nl in funds, included in tlie abov¢ ar¢ as follows: Incoming resources Resou￿¢5 expended Gains and losses Movemenl in funds Endowment funds E'ndowmlnl Fiinds 174,787 1174,787) 34,291 34,291 TOTAL FUNDS 174,787 (174,787) 34,291 34,291 Comp*ra¢ives for moi'emen¢ in funds Net movement in funds At 31.12.23 Ai 1.1.23 Endowment funds Endowment Funds 2.607,534 19,174 9,696.708 TOTAL FUIYDS 2,607,534 19,174 2,626,708 Page 14 continued... CHURCH LANDS AND JOHN JOHNSON'S ESTATE CHARITIES NOTES TO THE FINANCIAL STATEMENTS- Continued FOR THE YEAR EIYDED 31 DECEMBER 2024 12. MOVEMENT IN FUNDS- conlillued Comparaiiv¢ n¢1 movemeni in funds. included in the above are as follows: Incoming resources Resources expeiided Gains and losses Movement iii funds Endowment funds Endowment Funds 174.905 (174.905) 19.174 19.174 TOTAL FUNDS 174.905 {174.905) 19.174 19,174 A currenl year 12 months and prior year l ? monihs combined wsilion is as follows: Nel movement in funds At 31.12.24 Ai 1.1.23 Endowment funds Endom'meni Funds 2.607,534 53.465 2.660.999 TOTAL FUNDS 2.607,534 53,465 2.660.999 A current year 12 months and prior y¢ar 12 monihs ¢ombin¢d n¢t mov¢m¢nl in funds, included in Ili¢ above Rre as follows: Incoming r¢sour¢¢s Resources ¢xp¢nd¢d Gains and losses Movement in funds Endowment funds Endowment bunds 349.692 (349.692) 53.465 53.465 TOTAL FUNDS 349.692 (349,692) 53,465 53,465 The general fund represents the annual investment incotne 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 th¢ ¢harity held to s¢¢ure the long terni funding of the charitable objectives. Page 15 continued... CHURCH LANDS AND JOHN JOHNSON'S ESTATE CHARITIES NOTES TO THE FINANCIAL STATEMENTS- Continued FOR THE YEAR EIYDED 31 DECEMBER 2024 13. RELATED PARTY DISCLOSURES SI. Laurence Ecclesiastical Cbarities St. Laur¢nLe E¢cleqiasii¢al Charilie_q qhare Common Irust¢eship with the charity and is a beneficiary of its distributable income. During the year the charity made distribulions of £71.064 170?3.. £77.1801 and at Ihe year end the charity 0￿'¢d £54,778 10 ihis relaied party {?0?3: £33,714 owed io th¢ charily). SI. Laurence Relief in Need Trust Si. Laurence Relief in Need Trust shares common irusieeship M'.iih Ihe ¢hariTr and is a b¢n¢fi¢iary' of lis distributable income. Dliring the year the charity made distributions of £60.525 12023.. £63.4851 and at the year end ihe Lharil). ow'ed £36,915 10 this relaied party {?0• J- £*6.J90). Vale & West The ireasLirer, Mr Pyke is a partner wilh Vale & West Chartered Accouniants. During Ihe year ihe charily paid Vale & Wesl £? 7061?0?2.. £? 706) for a¢counlancy s¢rvi¢¢s. Blundy & Bl*ndy Mr N C BLirro¥vs is a trustee and a parin¢r wilh Blandy & Blandy. Durin8 th¢ y¢ar the charity paid Blandy & Blandy £1.906 (?0??: £6,634) for legal services. Page 16