2020-12-31-accounts - Ecclesiastical Charities Of John Wild Of Edmonton And Others

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ECCLESIASTICAL CHARITIES OF JOHN WILD OF EDMONTON AND OTHERS

Charity Registration Number: 291777

Report & Accounts 31 December 2020

Tandem Accounting Chartered Accountants 17 Heathville Road London N19 3AL

ECCLESIASTICAL CHARITIES OF JOHN WILD OF EDMONTON AND OTHERS

Report and Financial Statements 2020 Contents

	Page
Legal and administrative information	2
Report of the Trustees	4
Independent Examiner’s report to the Trustees	6
Statement of financial activities	7
Balance sheet	8
Notes to the financial statements	9

ECCLESIASTICAL CHARITIES OF JOHN WILD OF EDMONTON AND OTHERS

Legal and Administrative Information For the year ended 31 December 2020

Charity Name Ecclesiastical Charities Of John Wild Of Edmonton And Others

Charity Number 291777. The charity was established on 30 June 1899 by a Scheme of the Charity Commissioners and is a charity which was formally registered with the Charity Commission on 23 May 1985. The Charles Hart charity (charity registration no 291777-2) is a linked charity and therefore the results and financial position of that charity are combined with this charity.

Principal Address All Saints Vicarage, All Saints Close, London N9 9AT. The Governing Scheme 2020/99 dated 30 June 1899, Scheme 3653/40 dated 22 October 1940, Scheme 1641/85 Documents dated 2 September 1985, Scheme 354(S)/88 dated 27 September 1988. Various wills/trusts establishing the underlying charities. Objectives The 1899 Charity Commission Scheme directs that annual income shall be applied for ecclesiastical purposes in accordance with the subsisting trusts (Jaspar Hallam, The Rogers, Thomas Maule and John Wild) after the following costs have first been met:

maintenance of the properties of the charities
administration and management of the charities

and after the payment of £19 out of the annual income of the charity of John Wild (being one of the charities within the Charity) to the United Charities of Judith Alston and others.

In addition the 1940 scheme, as amended by the 1985 scheme, established a Parish Church Extraordinary Repair Fund to be funded by a yearly sum of not less than £500 out of the residue of the clear yearly income of the John Wild charity.

The original objectives for the income of the subsisting charities were:

John Wild • £19 to the trustees of the United Charities in the ancient parish of Edmonton for purposes not ecclesiastical.
£4 to the churchwardens of Edmonton to buy bread and wine for the sacrament.
£2 to the vicar of Southgate in the county of Middlesex.

Residue of the income towards a) reparation of the parish church of All Saints Edmonton. b) the upkeep and maintenance of the churchyard of the parish church. c) the maintenance of the services of the parish church and in the promotion of the work of the church of England in the Ecclesiastical Parish of All Saints Edmonton

Jaspar Hallam For ecclesiastical purposes in connection with ecclesiastical parish of All Saints Edmonton.

The Rogers For ecclesiastical purposes in general in the Parish of Edmonton

Thomas Maule For the benefit of 10 poor widows who attend church regularly.

In addition to the four subsisting charities there is the Charles Hart Bequest of 1936 (Charity registration 291777-2, a linked charity) with the church originally receiving the income from two properties (74 & 76 St Peters Road) held in trust by the vicar and church wardens of All Saints Church Edmonton together with some other properties (201,203, 205 & 207 Hertford Road) which presumably were sold and the proceeds spent. 74 & 76 St Peters Road were sold

ECCLESIASTICAL CHARITIES OF JOHN WILD OF EDMONTON AND OTHERS

Legal and Administrative Information For the year ended 31 December 2020

in 1987 and 2012 respectively. The Charity Commissioners instructed that the net sale proceeds from 74 St Peters Road of £52,527.50 were to represent a permanent endowment. The net sales proceeds of 76 St Peters Road £161,497.00 were to be used to purchase a property with the view to housing a parish worker.

The Hart Bequest stipulates that the income is to be used firstly for providing an Oak Choir screen, also an Oak Case for the organ, also an Oak screen to the choir Vestry, also for stained glass windows in suitable subjects, also £500/year towards a choir outing, after all of the above for the upkeep of the structure of the Church inside and outside. Having fulfilled all the above object the bequest shall be used for the upkeep of the structure of the Church inside and outside.

Trustees The Trustees who served during the year or who were serving at the date of this report were: Rev Stuart Owen Resigned 11 November 2021 Delores Mitchell-Sharp Sonia Davis Janice Panton Appointed 16 November 2021 Key Management Those in charge of directing, controlling, running and operating the Charity on a day to day Personnel basis are the Trustees. Bankers Barclays Bank 1 Churchill Place London E14 5HP Independent Christine Cheung-Poston ACCA Examiner 32 Fisher House Copenhagen Street London N1 0JE

ECCLESIASTICAL CHARITIES OF JOHN WILD OF EDMONTON AND OTHERS

Report of the Trustees For the year ended 31 December 2020

The Trustees of Ecclesiastical Charities of John Wild of Edmonton and Others (“the Charity”) submit their report and the financial statements of the charity for the year ended 31 December 2020. The financial statements have been prepared in the format prescribed by the Statement of Recommended Practice: Accounting and Reporting by Charities (SORP2020 (FRS102)) and the Financial Reporting Standard 102. The legal and administrative information set out earlier in this document forms part of this report.

The Charity is an amalgamation of

(1) Various bequests made to the parish of All Saints Edmonton, between the seventeenth and twentieth centuries. These are: John Wild, Charles Hart, Jasper Hallam, The Rogers (Edward Rogers, Richard Rogers and Richard Rogers the Younger) and Thomas Maule.

(2) the properties of 74 & 76 St Peters Road, Edmonton which were sold in 1986 and 2012 respectively

1. Structure, Governance & Management

The Trustees are usually the Vicar and Churchwardens of the Parish of Edmonton.

None of the Trustees receives remuneration.

The induction process for any individual newly-appointed to the board of Trustees comprises an initial meeting with at least two of the Trustees (whenever possible one of these two Trustees being the Chair) and receipt of copies of:

the Trust Deed
the most recent financial statements
the Charity Commission’s guidance ‘The Essential Trustee’.

2. Activities & Strategies

The Charity makes annual grants in accordance with its stated objectives.

3. Financial Review

The Charity’s main sources of funding are dividends on investments and interest from the CBF Church of England Deposit Fund

3.1 Financial Activity and Financial Position

The Statement of Financial Activities and Balance Sheet can be found on pages 7 and 8 respectively. The charity’s reserves decreased by £12,434 during the year (2019: increased by £143,196). The balance sheet shows total net assets of £1,007,040 (2019: £1,019,474).

3.2 Reserves Policy

At 31 December 2020 the Charity had net free reserves of £161,713 (2019: £167,989), mainly available for distribution as grants, as follows:

Total reserves Less: endowment funds Less: restricted funds Free reserves	2020	2019 £ 1,019,474 (838,738 (12,747	) )
	£

	1,007,040
	(667,662)
	(177,665)

		167,989
	161,713

ECCLESIASTICAL CHARITIES OF JOHN WILD OF EDMONTON AND OTHERS

Report of the Trustees For the year ended 31 December 2020

3.3 Investment Policy

The trustees are in the process of formulating an investment policy. Funds in excess of immediate working capital requirement are placed in a bank deposit account.

3.4 Grants Policy

The Charity makes annual grants in accordance with the objects of the Charity.

4. Plans for Future Periods

As noted above, the trustees are looking to formulate an investment policy in the near future.

5. Responsibilities of Trustees for the Financial Statements

The charity is responsible for preparing the report and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice. Charity law in England and Wales requires the charity to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the income and application of income of the charity for that period.

In preparing those financial statements, the charity is required to:

select suitable accounting policies and apply them consistently;
observe the methods and principles of the Charities SORP
make judgements and estimates that are reasonable and prudent;
state whether applicable accounting standards have been followed, subject to any departures disclosed and explained in the financial statements; and
Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the activities of the charity will continue.

The charity is responsible for keeping adequate accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enables them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports Regulations 2008 and the provisions of the governing document. The charity is also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The charity is responsible for the maintenance and integrity of the charity and financial information included in the charity’s website.

6. Approval

The report of the charity was approved by the charity on 28 May 2023 and signed on its behalf by:

Janice Panton Chair

ECCLESIASTICAL CHARITIES OF JOHN WILD OF EDMONTON AND OTHERS

Report of the Independent Examiner to the Trustees of Ecclesiastical Charities of John Wild of Edmonton and Others

I report on the accounts of the Ecclesiastical Charities of John Wild of Edmonton and Others for the year ended 31 December 2020, which are set out on pages 7 to 12.

Respective responsibilities of charity and examiner

The charity are responsible for the preparation of the accounts. The charity consider that an audit is not required for this year (under section 144(2) of the Charities Act 2011 (the 2011 Act)) and that an independent examination is needed.

It is my responsibility to:

examine the accounts (under section 145 of the 2011 Act);
to follow the procedures laid down in the General Directions given by the Charity Commissioners (under section 145(5)(b) of the 2011 Act); and
to state whether particular matters have come to my attention.

Basis of independent examiners’ report

My examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and the seeking of explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and, consequently, no opinion is given as to whether the accounts present a ‘true an fair view’ and the report is limited to those matters set out in the statement below.

Independent examiners’ 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:

accounting records were not kept in respect of the church as required by section 130 of the Act; or
the accounts do not accord with those records; or
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.

Christine Cheung-Poston ACCA

28 May 2023

ECCLESIASTICAL CHARITIES OF JOHN WILD OF EDMONTON AND OTHERS

Statement of Financial Activities For the year ended 31 December 2020

Unrestricted Funds 2020 £ 24,980	Endowment		Unrestricted Funds 2019 £ 27,799	Total 2019 £ 31,720
	Funds	Total
	2020	2020
	£	£

	-	29,125

24,980			27,799	31,720
	0	29,125

28,292 28,292 - (3,312) (2,964) - (6,276) 167,989 161,713			15,811	15,811

	-	28,292

			15,811	15,811
	0	28,292

			-	127,287
	(24,150)	(13,267)

			11,988	143,196
	(24,150)	(12,434)

			- -	- -
	(146,926)	-
	-	-

			11,988 156,001	143,196 876,278
	(171,076)	(12,434)

	838,738	1,019,474

			167,989	1,019,474
	667,662	1,007,040

ECCLESIASTICAL CHARITIES OF JOHN WILD OF EDMONTON AND OTHERS

Balance Sheet As at 31 December 2020

Endowment		Total 2019 £ - 848,772
Funds	Total
2020	2020
£	£

-	-
667,662	839,253

		848,772 - 173,752
667,662	839,253

-	-
-	172,337

		173,752 3,050
0	172,337

-	4,550

		170,702
0	167,787

		1,019,474
667,662	1,007,040

		838,738 12,747 167,989


667,662	667,662
-	177,665
-	161,713

		1,019,474
667,662	1,007,040

The financial statements were approved by the charity on 28 May 2023 and signed on its behalf by:

Janice Panton Chair

ECCLESIASTICAL CHARITIES OF JOHN WILD OF EDMONTON AND OTHERS

Notes to the Financial Statements For the year ended 31 December 2020

1. Accounting Policies

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

Basis of accounting

The financial statements have been prepared under the Charities Act 2011 and in accordance with the Charities Statement of Recommended Practice (Charities SORP (FRS 102)) and Financial Reporting Standard 102 (FRS 102). The financial statements are drawn up on the historical cost basis of accounting except for the revaluation of leasehold land and buildings and investments which are shown at market value.

The charity meets the definition of a public benefit entity under FRS 102.

Going Concern

There are no material uncertainties about the charity’s ability to continue as a going concern and accordingly the accounts have been drawn up on a going concern basis.

Income recognition

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

Expenditure recognition

Expenditure is accrued as soon as a liability is considered probable, and the amount of obligation can be measured reliably. Longer term liabilities are discounted to present value. The charity is not registered for VAT and accordingly expenditure includes VAT where appropriate.

Charitable expenditure includes those costs in fulfilling the charity’s principal objects, as outlined in the Report of the Charity. These include grants payable and governance costs

Grants payable are payments made to third parties in furtherance of the charity’s objects. In the case of an unconditional grant offer this is accrued once the recipient has been notified of the grant award. The notification gives the recipient a reasonable expectation that they will receive the grant. Grants awards that are subject to the recipient fulfilling performance conditions are only accrued when the recipient has been notified of the grant and any remaining unfulfilled condition attaching to that grant is outside of the control of the charity.
Governance costs comprise all costs involving the public accountability of the charity and its compliance with regulation and good practice. These costs include costs related to the independent examination and legal fees.

Investments

Listed investments are stated at market value. Realised and unrealised gains and losses on investments are reflected through the Statement of Financial Activities.

Debtors

Debtors are included at the settlement amount due. Prepayments are valued at the amount prepaid.

Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation arising from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are recognised at their settlement amount.

Fund accounting

The funds held by the charity are either:

Unrestricted general funds - these are funds which can be used in accordance with the charitable objects at the discretion of the trustees.
Restricted funds - these are funds that can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
• Endowment funds - these are funds whose capital must be maintained.

ECCLESIASTICAL CHARITIES OF JOHN WILD OF EDMONTON AND OTHERS

Notes to the Financial Statements

For the year ended 31 December 2020

2. Income	2. Income
		Unrestricted	Restricted
		Funds	Funds	Total	Total
		2020	2020	2020	2019
		£	£	£	£
Investments
Dividends		24,590	4,145	28,735	31,035
Bank Interest		390	-	390	685
		24,980	4,145	29,125	31,720


3. Expenditure on Charitable Activities
		Unrestricted	Restricted
		Funds	Funds	Total	Total
		2020	2020	2020	2019
		£	£	£	£
Grants to:
All Saints Church Edmonton		26,792	-	26,792	14,921
Accountancy		1,250	-	1,250	700
Independent examination		250	-	250	190

		28,292	0	28,292	15,811


4. Fixed Asset Investments
				2020	2019
				£	£
Market Value
At 1 January				848,772	717,952
Net of purchases and sales (dividends reinvested)				3,748	3,533
Net gain/(loss) on revaluation				(13,267)	127,287

At 31 December				839,253	848,772


Market value represented by investments in:
COIF Charities Investment Fund – Income Units				597,594	556,385
M&G Charifund units				241,659	292,387
				839,253	848,772


No original	cost information is available.
5. Creditors - Amounts Falling Due Within One Year
				2020	2019
				£	£
Accruals				4,550	3,050

ECCLESIASTICAL CHARITIES OF JOHN WILD OF EDMONTON AND OTHERS

Notes to the Financial Statements For the year ended 31 December 2020

6. Endowment Funds

6a Current Year John Wild Charles Hart Bequest Jasper Hallam/The Rogers Thomas Maule Extraordinary Repair Fund Charles Hart Bequest (formerly 74 & 76 St Peters Road Proceeds)	At 1 January 2020 £ 221,554 33,426 49,600 12,904 113,499 407,755 838,738	At 1 January 2020 £ 221,554 33,426 49,600 12,904 113,499 407,755 838,738	Income £ Expenditure £ Transfers £ - - - - - (33,426) - - - - - - - - (113,499) - - - 0 0 (146,925)	Income £ Expenditure £ Transfers £ - - - - - (33,426) - - - - - - - - (113,499) - - - 0 0 (146,925)	Income £ Expenditure £ Transfers £ - - - - - (33,426) - - - - - - - - (113,499) - - - 0 0 (146,925)	Income £ Expenditure £ Transfers £ - - - - - (33,426) - - - - - - - - (113,499) - - - 0 0 (146,925)	Gains/ (losses) £ 14,233 - 3,303 829 - (42,516) (24,151)	At 31	At 31
								December
									2020
									£

									235,787
									0
									52,903
									13,733
									0

									365,239


									667,662

The transfers:

from Extraordinary Repair Fund endowment to Extraordinary Repair Fund restricted and
from Charles Hart endowment to Charles Hart – Choir (fabric) restricted was made to correct a historic error.

6b Prior Year John Wild Charles Hart Jasper Hallam/The Rogers Thomas Maule Extraordinary Repair Fund Charles Hart Bequest (formerly 74 & 76 St Peters Road Proceeds)	At 1 January 2019 £ 187,917 28,351 41,926 10,944 94,419 347,893 711,450	At 1 January 2019 £ 187,917 28,351 41,926 10,944 94,419 347,893 711,450	Income £ Expenditure £ Transfers £ - - - - - - - - - - - - - - - - - - 0 0 0	Income £ Expenditure £ Transfers £ - - - - - - - - - - - - - - - - - - 0 0 0	Income £ Expenditure £ Transfers £ - - - - - - - - - - - - - - - - - - 0 0 0	Income £ Expenditure £ Transfers £ - - - - - - - - - - - - - - - - - - 0 0 0	Gains/ (losses) £ 33,637 5,075 7,674 1,960 19,080 59,862 127,288	At 31	At 31
								December
									2019
									£

									221,554
									33,426
									49,600
									12,904
									113,499

									407,755


									838,738

Descriptions of the endowment funds are as follows:

John Wild

£19 to the trustees of the United Charities in the ancient parish of Edmonton for purposes not ecclesiastical.
£4 to the churchwardens of Edmonton to buy bread and wine for the sacrament.
£2 to the vicar of Southgate in the county of Middlesex.

Residue of the income towards

a) reparation of the parish church of All Saints Edmonton.

b) the upkeep and maintenance of the churchyard of the parish church. c) the maintenance of the services of the parish church and in the promotion of the work of the church of England in the Ecclesiastical Parish of All Saints Edmonton

Charles Hart

For ecclesiastical purposes in connection with ecclesiastical parish of All Saints Edmonton.

Jasper Hallam

For ecclesiastical purposes in connection with ecclesiastical parish of All Saints Edmonton.

ECCLESIASTICAL CHARITIES OF JOHN WILD OF EDMONTON AND OTHERS

Notes to the Financial Statements For the year ended 31 December 2020

6. Endowment Funds (continued)

The Rogers For ecclesiastical purposes in general in the Parish of Edmonton Thomas Maule For the benefit of 10 poor widows who attend church regularly. Extraordinary In respect of the John Wild charity a Parish Church Extraordinary Repair Fund was Repair Fund established by the 1940 scheme, as amended by the 1985 scheme, to be funded at a yearly sum of not less than £500 out of the residue of the clear yearly income of the John Wild charity.

Charles Hart Capital: 74 St Peters Road: Permanent endowment; 76 St Peters Road: to be used to Bequest (formerly purchase a property with a view to housing a parish worker. 74 & 76 St Peters Income: For firstly providing an Oak Choir screen, also an Oak Case for the organ, also an Road Proceeds) Oak screen to the choir Vestry, also for stained glass windows in suitable subjects, also £500/year towards a choir outing, after all of the above for the upkeep of the structure of the Church inside and outside

7. Restricted Funds

7a Current Year Charles Hart – Choir (fabric) Charles Hart – Choir (outing) Charles Hart – Church (residual) Thomas Maule Extraordinary Repair Fund	At 1 January 2020 £ 0 0 0 2,713 10,034 12,747	At 1 January 2020 £ 0 0 0 2,713 10,034 12,747		Income £ Expenditure £ Transfers £ - - 38,583 - - 500 - - - 396 - (2,692) 3,749 - 113,499 4,145 0 111,307	Income £ Expenditure £ Transfers £ - - 38,583 - - 500 - - - 396 - (2,692) 3,749 - 113,499 4,145 0 111,307	Income £ Expenditure £ Transfers £ - - 38,583 - - 500 - - - 396 - (2,692) 3,749 - 113,499 4,145 0 111,307	Gains/ (losses) £ 2,147 - - - 8,736 10,883	At 31	At 31
								December
									2020
									£


									40,730
									500
									0
									417
									136,018


									177,665

The transfer from Extraordinary Repair Fund endowment to Extraordinary Repair Fund restricted was made to correct a historic error.

The transfer from Thomas Maule endowment to Charles Hart Bequest – Choir (fabric) restricted fund was made to correct errors in prior years.

7b Prior Year Thomas Maule Extraordinary Repair Fund	At 1 January 2019 £ 2,325 6,501 8,826	At 1 January 2019 £ 2,325 6,501 8,826		Income £ Expenditure £ Transfers £ 388 - - 3,533 - - 3,921 0 0	Income £ Expenditure £ Transfers £ 388 - - 3,533 - - 3,921 0 0	Income £ Expenditure £ Transfers £ 388 - - 3,533 - - 3,921 0 0	Gains/ (losses) £ - - 0	At 31	At 31
								December
									2019
									£


									2,713
									10,034


									12,747

ECCLESIASTICAL CHARITIES OF JOHN WILD OF EDMONTON AND OTHERS

Notes to the Financial Statements For the year ended 31 December 2020

7. Restricted Funds (continued)

Descriptions of the restricted funds are as follows;

Thomas Maule Income from the Thomas Maule Endowment fund: for the benefit of 10 poor widows who attend church regularly. Extraordinary In respect of the John Wild charity a Parish Church Extraordinary Repair Fund was Repair Fund established by the 1940 scheme, as amended by the 1985 scheme, to be funded at a yearly sum of not less than £500 out of the residue of the clear yearly income of the John Wild charity (endowment fund).

Charles Hart The Charles Hart Bequest stipulates that the income is to be used firstly for providing an Bequest (fabric) Oak Choir screen, also an Oak Case for the organ, also an Oak screen to the choir Vestry, also for stained glass windows in suitable subjects.

Charles Hart The Charles Hart Bequest stipulates that the income is then to be used £500/year towards Bequest (outing) a choir outing, The balance is being maintained at £500 until the next outing. Charles Hart The Charles Hart Bequest stipulates that the income is then to be used, after all of the above, Bequest (residual) for the upkeep of the structure of the Church inside and outside.

8. Unrestricted Funds

8a Current Year Unrestricted Income Fund	At 1 January 2020 £ 167,989	At 1 January 2020 £ 167,989		Income £ Expenditure £ Transfers £ 24,980 (28,292) (2,964)	Income £ Expenditure £ Transfers £ 24,980 (28,292) (2,964)	Income £ Expenditure £ Transfers £ 24,980 (28,292) (2,964)	Gains/ (losses) £ -	At 31	At 31
								December
									2020
									£

									161,713

The transfer from Unrestricted income fund to the Charles Hart Bequest (fabric) restricted fund was made to correct a historic error.

8b Prior Year Unrestricted Income Fund	At 1 January 2019 £ 156,000	At 1 January 2019 £ 156,000		Income £ Expenditure £ Transfers £ 27,800 (15,811) -	Income £ Expenditure £ Transfers £ 27,800 (15,811) -	Income £ Expenditure £ Transfers £ 27,800 (15,811) -	Gains/ (losses) £ -	At 31	At 31
								December
									2019
									£

									167,989

9. Related Party Transactions and Balances

Janice Panton, a Trustee, is a member of the PCC of All Saints Church Edmonton. During the year the Charity made payments of £26,792 (2019: £14,883) either directly to, or on behalf of, the church.