2022-12-31-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 2022

Tandem Accounting Chartered Accountants 17 Heathville Road London N19 3AL

ECCLESIASTICAL CHARITIES OF JOHN WILD OF EDMONTON AND OTHERS

Report and Financial Statements 2022 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 2022

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 2022/99 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 2022

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: Delores Mitchell-Sharp Sonia Davis Janice Panton

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 2022

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 2022. The financial statements have been prepared in the format prescribed by the Statement of Recommended Practice: Accounting and Reporting by Charities (SORP2022 (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 £79,594 during the year (2021: increased by £139,377). The balance sheet shows total net assets of £1,066,823 (2021: £1,146,417).

3.2 Reserves Policy

At 31 December 2022 the Charity had net free reserves of £189,898 (2021: £178,863), mainly available for distribution as grants, as follows:

Total reserves Less: endowment funds Less: restricted funds Free reserves	2022	2021 £ 1,146,417 (760,604 (206,950	) )
	£

	1,066,823
	(688,647)
	(188,278)

		178,863
	189,898

ECCLESIASTICAL CHARITIES OF JOHN WILD OF EDMONTON AND OTHERS

Report of the Trustees For the year ended 31 December 2022

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 9 December 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 2022, which are set out on pages 7 to 13.

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 and 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

9 December 2023

ECCLESIASTICAL CHARITIES OF JOHN WILD OF EDMONTON AND OTHERS

Statement of Financial Activities For the year ended 31 December 2022

Unrestricted Funds 2022 £ 29,018	Endowment		Unrestricted Funds 2021 £ 26,191	Total 2021 £ 30,591
	Funds	Total
	2022	2022
	£	£

	-	33,978

29,018			26,191	30,591
	0	33,978

17,983 17,983 - 11,035 - - 11,035 178,863 189,898			9,041	9,041

	57	18,040

			9,041	9,041
	57	18,040

			-	117,827
	(71,900)	(95,532)

			17,150	139,377
	(71,957)	(79,594)

			- -	- -
	-	-
	-	-

			17,150 161,713	139,377 1,007,040
	(71,957)	(79,594)

	760,604	1,146,417

			178,863	1,146,417
	688,647	1,066,823

ECCLESIASTICAL CHARITIES OF JOHN WILD OF EDMONTON AND OTHERS

Balance Sheet As at 31 December 2022

Endowment		Total 2021 £ - 961,076
Funds	Total
2022	2022
£	£

-	-
688,704	869,789

		961,076 - 188,341
688,704	869,789

-	-
(57)	201,534

		188,341 3,000
(57)	201,534

-	4,500

		185,341
(57)	197,034

		1,146,417
688,647	1,066,823

		760,604 206,950 178,863


688,647	688,647
-	188,278
-	189,898

		1,146,417
688,647	1,066,823

The financial statements were approved by the charity on 9 December 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 2022

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 2022

2. Income

Investments Dividends Bank Interest 3. Expenditure on Charitable Activities Grants to: All Saints Church Edmonton Accountancy Independent examination 4. Fixed Asset Investments Market Value At 1 January Net of purchases and sales (dividends reinvested) Net gain/(loss) on revaluation At 31 December Market value represented by investments in: COIF Charities Investment Fund – Income Units M&G Charifund units	Unrestricted Funds 2022 £ Restricted Funds 2022 £ 27,805 4,960 1,213 - 29,018 4,960 Unrestricted Funds 2022 £ Restricted Funds 2022 £ 16,540 - 1,250 - 250 - 18,040 0
			Total
			2022
			£

			32,765
			1,213

			33,978



			Total
			2022
			£


			16,540
			1,250
			250


			18,040




			2022
			£

			961,076
			4,245
			(95,532)

			869,789


			611,060
			258,729

			869,789

No original cost information is available.

5. Creditors - Amounts Falling Due Within One Year Accruals		2022 £ 4,500	2021 £ 3,000
		2022
		£

		4,500

ECCLESIASTICAL CHARITIES OF JOHN WILD OF EDMONTON AND OTHERS

Notes to the Financial Statements For the year ended 31 December 2022

6. Endowment Funds

At 1 January 2022 £ 269,381 60,474 15,690 415,059 760,604	Gains/ (losses) £ (31,317) (7,058) (1,824) (31,701) (71,900)	At 31	At 31
		December
			2022
			£

			238,007
			53,416
			13,866

			383,358


			688,647

	Gains/ (losses) £ 33,594 7,571 1,957 49,820 92,942
At 1 January 2021 £ 235,787 52,903 13,733 365,239 667,662			At 31
		December
			2021
			£

			269,381
			60,474
			15,690

			415,059


			760,604

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

Jasper Hallam The Rogers

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

For ecclesiastical purposes in general in the Parish of Edmonton

Thomas Maule

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

Charles Hart Bequest (formerly 74 & 76 St Peters Road Proceeds)

Capital: 74 St Peters Road: Permanent endowment; 76 St Peters Road: to be used to purchase a property with a view to housing a parish worker.

Income: For firstly 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

ECCLESIASTICAL CHARITIES OF JOHN WILD OF EDMONTON AND OTHERS

Notes to the Financial Statements

For the year ended 31 December 2022

7. Restricted Funds

At 1 January 2022 £ 45,798 500 0 821 159,831 206,950	Income £ Expenditure £ Transfers £ - - - - - - - - - 716 - - 4,244 - - 4,960 0 0	Gains/ (losses) £ (4,724) - - - (18,908) (23,632)	At 31	At 31
			December
				2022
				£

				41,074
				500
				0
				1537
				145,167


				188,278

	Income £ Expenditure £ Transfers £ - - - - - - - - - 404 - - 3,996 - - 4,400 0 0	Gains/ (losses) £ 5,068 - - - 19,817 24,885
At 1 January 2021 £ 40,730 500 0 417 136,018 177,665				At 31
			December
				2021
				£

				45,798
				500
				0
				821
				159,831


				206,950

Descriptions of the restricted funds are as follows;

Charles Hart Bequest (fabric)

The Charles 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.

Charles Hart Bequest (outing)

The Charles Hart Bequest stipulates that the income is then to be used £500/year towards a choir outing, The balance is being maintained at £500 until the next outing.

Charles Hart Bequest (residual)

The Charles Hart Bequest stipulates that the income is then to be used, after all of the above, for the upkeep of the structure of the Church inside and outside.

Thomas Maule

Income from the Thomas Maule Endowment fund: for the benefit of 10 poor widows who attend church regularly.

Extraordinary Repair Fund

In respect of the John Wild charity a Parish Church Extraordinary Repair Fund was 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).

ECCLESIASTICAL CHARITIES OF JOHN WILD OF EDMONTON AND OTHERS

Notes to the Financial Statements For the year ended 31 December 2022

8. Unrestricted Funds

At 1 January 2022 £ 178,863	Income £ Expenditure £ Transfers £ 29,018 (17,983) -	Gains/ (losses) £ -	At 31	At 31
			December
				2022
				£

				189,898

	Income £ Expenditure £ Transfers £ 26,191 (9,041) -	Gains/ (losses) £ -
At 1 January 2021 £ 161,713				At 31
			December
				2021
				£

				178,863

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

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 £16,540 (2021: £7,441) either directly to, or on behalf of, the church.