**Charity registration number 309060**
## **ST PAUL'S PARISH ROOMS TRUST**
**ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**
## **ST PAUL'S PARISH ROOMS TRUST**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
|**Trustee**|Parochial Church Council of the Ecclesiastical Parish of St Paul's|
|---|---|
||Wokingham|
|**Charity number**|309060|
|**Principal address**|St Paul's Parish Rooms|
||Reading Road|
||Wokingham|
||Berkshire|
||RG41 1EH|
|**Registered office**|St Paul's Parish Rooms|
||Reading Road|
||Wokingham|
||Berkshire|
||RG41 1EH|
## **ST PAUL'S PARISH ROOMS TRUST**
## **CONTENTS**
||**Page**|
|---|---|
|Trustee report|1|
|Independent examiner's report|2|
|Statement of financial activities|3|
|Balance sheet|4|
|Notes to the financial statements|5 - 10|
## **ST PAUL'S PARISH ROOMS TRUST**
## **TRUSTEE REPORT**
## _**FOR THE YEAR ENDED 31 DECEMBER 2024**_
The Trustee presents its annual report and financial statements for the year ended 31 December 2024.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Charity's Trust Deed, the Charities Act 2011 and "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**
The objectives of the Charity are to: (1) Award grants to persons under the age of 25, who live or are educated within the parish, for the furtherance of their education (2) Provide grants to St Paul's C of E Junior School for the furtherance of religious knowledge. (3) Provide grants to the St Paul's Sunday School for the furtherance of religious knowledge.
To achieve these objectives the Parish Rooms are let on a fee-paying basis and the surplus each year, after deducting reserves , is used to make grant payments.
## **Achievements and performance**
## _Significant activities and achievements against objectives_
During the year-ended 31 December 2024, three grants to the total of £5,684 were made in accordance with the stated objectives.
## **Financial review**
Financial Review:
During the year the Charity achieved a net income of £39,771 and had reserves of £123,982 at 31 December 2024.
Income of £19,231 was received during the year from interest on proceeds which arose from the historical sale of a parcel of land associated with the Trust Deed. The capital proceeds are held on term deposit by the Diocese, who permit the Charity to receive the interest that is accumulating from this investment.
## **Reserves policy**
The Charity maintains sufficient reserves to maintain the Parish Rooms in good repair for the foreseeable future. Net income surplus to this requirement is set aside in a designated fund from which grant payments can then be made in accordance with the charitable objectives.
The Charity invites applications for grant payments from eligible candidates, and is in regular contact with the Junior School and Senior schools within the Parish, and the Parish Sunday School as potential beneficiaries of future grant payments.
The Trustee report was approved by.
## **Peter Wells**
Chairman, for and on behalf of the Parochial Church Council of the Ecclesiastical Parish of St Paul's Wokingham. **Trustee**
Date: .............................................30 March 2025
- 1 -
## **ST PAUL'S PARISH ROOMS TRUST**
## **INDEPENDENT EXAMINER'S REPORT**
## **TO THE TRUSTEE OF ST PAUL'S PARISH ROOMS TRUST**
I report to the Trustee on my examination of the financial statements of St Paul's Parish Rooms Trust (the Charity) for the year ended 31 December 2024.
## **Responsibilities and basis of report**
As the Trustee of the Charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).
I report in respect of my examination of the Charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent examiner's statement**
I have completed my examination. I confirm that no 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 Charity as required by section 130 of the 2011 Act; or
- 2 the financial statements do not accord with those records; or
- 3 the financial statements 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 financial statements to be reached.
## **Jason Searancke**
Chartered Accountant, Chartered Accountants Australia and New Zealand (#28559) 90 London Road
Wokingham RG40 1YF
Dated: ....................30 March 2025
- 2 -
## **ST PAUL'S PARISH ROOMS TRUST**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## _**FOR THE YEAR ENDED 31 DECEMBER 2024**_
|**Notes**
**Income from:**
Charitable activities
**2**
Investments
**3**
**Total income**
Charitable activities
**4**
**Net income/(expenditure) and movement in funds**
Transfers between funds
**Reconciliation of funds:**
Fund balances at 1 January 2024
**Fund balances at 31 December 2024**|**General**
**funds**
**Grant funds**
**Land sale**
**Interest funds**
**2024**
**2024**
**2024**
**£**
**£**
**£**
72,236
-
-
1,565
-
19,231
73,801
-
19,231
47,576
5,684
-
26,225
(5,684)
19,231
(13,112)
13,112
-
31,404
14,217
38,589
44,517
21,645
57,820|**Total**
**2024**
**£**
**72,236**
**20,796**
**93,032**
**53,260**
**39,772**
-
**84,210**
**123,982**|**General**
**funds**
**Grant funds**
**Land Sale**
**Interest funds**
**2023**
**2023**
**2023**
**£**
**£**
**£**
65,405
-
-
819
-
14,128
66,224
-
14,128
60,478
4,124
-
5,746
(4,124)
14,128
(2,873)
2,873
-
28,531
15,468
24,461
31,404
14,217
38,589|**Total**
**2023**
**£**
**65,405**
**14,947**|
|---|---|---|---|---|
|||||**80,352**|
|||||**64,602**|
|||||**15,750**
-
**68,460**|
|||||**84,210**|
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
- 3 -
## **ST PAUL'S PARISH ROOMS TRUST**
## **BALANCE SHEET**
## _**AS AT 31 DECEMBER 2024**_
|||**2024**||**2023**||
|---|---|---|---|---|---|
||**Notes**|**£**|**£**|**£**|**£**|
|**Current assets**||||||
|Debtors|**9**|1,706||2,110||
|Cash at bank and in hand||124,988||88,019||
|||126,694||90,129||
|**Creditors: amounts falling due within one**|**10**|||||
|**year**||2,712||5,919||
|Net current assets|||123,982||84,210|
|**The funds of the Charity**||||||
|Land Sale Interest|**12**||57,820||38,589|
|General Reserves|||44,517||31,404|
|Grant Fund|**13**||21,645||14,217|
||||123,982||84,210|
The financial statements were approved on 30 March 2025 by
## **Peter Wells**
Chairman, for and on behalf of Parochial Church Council of the Ecclesiastical Parish of St Paul's Wokingham. **Trustee**
- 4 -
## **ST PAUL'S PARISH ROOMS TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 DECEMBER 2024**_
## **1 Accounting policies**
## **Charity information**
The Trust Deed permits the Trustee to appropriate and use as a parish room the land with the building known as St Paul's Parish Room. The land which contains the Parish Rooms is vested in a Custodian Trustee, Diocesan Trustees (Oxford) Limited, and held in Trust for the Charity. No compensation is paid to the Custodian Trustee by the Charity.
## **1.1 Accounting convention**
The financial statements have been prepared in accordance with the Charity's [governing document], the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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). The Charity is a Public Benefit Entity as defined by FRS 102.
The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
## **1.2 Going concern**
At the time of approving the financial statements, the Trustee has a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustee continues to adopt the going concern basis of accounting in preparing the financial statements.
## **1.3 Charitable funds**
Unrestricted funds are available for use at the discretion of the Trustee in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
## **1.4 Income**
Income is recognised when the Charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
## **1.5 Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.
## **1.6 Cash and cash equivalents**
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
## **1.7 Financial instruments**
Financial instruments are recognised in the Charity's balance sheet when the Charity becomes party to the contractual provisions of the instrument.
- 5 -
## **ST PAUL'S PARISH ROOMS TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2024**_
## **1 Accounting policies**
## **(Continued)**
## _**Basic financial assets**_
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
## _**Basic financial liabilities**_
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less.
## **2 Income from charitable activities**
||**Unrestricted**|**Unrestricted**|
|---|---|---|
||**funds**|**funds**|
||**2024**|**2023**|
||**£**|**£**|
|**Charitable Income**|||
|Room Hire|71,554|65,305|
|Other income|682|100|
||72,236|65,405|
## **3 Income from investments**
||**Bank**|**Land sale**|**Total**|**Bank**|**Land Sale**|**Total**|
|---|---|---|---|---|---|---|
||**Interest**|**Interest**||**Interest**|**Interest**||
||**2024**|**2024**|**2024**|**2023**|**2023**|**2023**|
||**£**|**£**|**£**|**£**|**£**|**£**|
|Interest receivable|1,565|19,231|20,796|819|14,128|14,947|
- 6 -
## **ST PAUL'S PARISH ROOMS TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 DECEMBER 2024**_
## **4 Expenditure on charitable activities**
|**General**
**2024**
**£**
**Premises Costs**
Water
861
Light & Heat
3,681
**Repairs & Renewals**
General Repairs
2,136
Fire & Electrical
Maintenance
467
Plumbing & Heating Repairs
232
Alarm Maintenance
672
Cleaning & Waste
17,315
Pest Control
648
Dishwasher Expenses
216
Door Maintenance
-
Hotwater Boiler
168
**Administration**
Insurance
2,232
Parish Administration
15,505
Telephone & Broadband
1,173
**Other Expenses**
Miscellaneous
18
Legal & Professional
1,152
**Capital Expenditure**
Car Park Barriers
-
Car Park Light Bollards
1,100
New Pathway
-
New Hand Rail
-
Tables
-
Cycle racks
-
Projector
-
47,576
**Grant Payments**
-
47,576
**Analysis by fund**
General fund
47,576
Grant fund
-
47,576|**Grant**
**2024**
**£**
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
5,684
5,684
-
5,684
5,684|**Total**
**General**
**2024**
**2023**
**£**
**£**
861
820
3,681
3,357
2,136
751
467
904
232
1,011
672
677
17,315
14,562
648
565
216
72
-
186
168
65
2,232
2,282
15,505
13,612
1,173
894
18
65
1,152
500
-
418
1,100
8,967
-
7,680
-
1,656
-
576
-
504
-
354
47,576
60,478
5,684
-
53,260
60,478
47,576
60,478
5,684
-
53,260
60,478|**Grant**
**2023**
**£**
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
4,124
4,124
-
4,124
4,124|**Total**
**2023**
**£**
820
3,357
751
904
1,011
677
14,562
565
72
186
65
2,282
13,612
894
65
500
418
8,967
7,680
1,656
576
504
354|
|---|---|---|---|---|
|||||60,478
4,124|
|||||64,602|
|||||60,478
4,124|
|||||64,602|
- 7 -
## **ST PAUL'S PARISH ROOMS TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 DECEMBER 2024**_
## **5 Grants payable**
||**2024**|**2023**|
|---|---|---|
||**£**|**£**|
|Grants paid|5,684|4,124|
## **6 Trustee**
The Trustee has not received any remuneration or benefits from the Charity during the year.
## **7 Employees**
The average monthly number of employees during the year was:
|**2024**|**2023**|
|---|---|
|**Number**|**Number**|
|1|1|
There were no employees whose annual remuneration was more than £60,000.
## **8 Taxation**
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
## **9 Debtors**
|**Amounts falling due within one year:**
Trade debtors
Prepayments and accrued income
**10**
**Creditors: amounts falling due within one year**
**Notes**
Other taxation and social security
Deferred income
**11**
Trade creditors
Other creditors
Accruals|**2024**
**£**
1,283
423
1,706
**2024**
**£**
57
1,254
516
1
884
2,712|**2023**
**£**
246
1,864|
|---|---|---|
|||2,110|
|||**2023**
**£**
-
715
4,390
-
814|
|||5,919|
- 8 -
## **ST PAUL'S PARISH ROOMS TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 DECEMBER 2024**_
## **11 Income in Advance**
|**Income in Advance**|||
|---|---|---|
|Income in Advance
Income in Advance is included in the financial statements as follows:
Income in Advance is included within:
Current liabilities|**2024**
**£**
1,254
**2024**
**£**
1,254|**2023**
**£**
715|
|||**2023**
**£**
715|
## **12 Land Sale Interest Fund**
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.
|**At**|**1**|**January**|**Incoming**|
**At**|**31**|**December**|
|---|---|---|---|---|---|---|
|||**2024**|**resources**|||**2024**|
|||**£**|**£**|||**£**|
|||38,589|19,231|||57,820|
## **13 Grant Fund**
These are unrestricted which are material to the Charity's activities.
||**At**|**1**|**January**|**Resources**|**TransfersAt**|**31**|**December**|
|---|---|---|---|---|---|---|---|
||||**2024**|**expended**|||**2024**|
||||**£**|**£**|**£**||**£**|
||||14,217|(5,684)|13,112||21,645|
|**Previous year:**|**At**|**1**|**January**|**Resources**|**TransfersAt**|**31**|**December**|
||||**2023**|**expended**|||**2023**|
||||**£**|**£**|**£**||**£**|
||||15,468|(4,124)|2,873||14,217|
- 9 -
## **ST PAUL'S PARISH ROOMS TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 DECEMBER 2024**_
## **14 General Fund**
The unrestricted general funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
||**At**|**1**|**January**|**Incoming**|**Resources**|**TransfersAt**|**31**|**December**|
|---|---|---|---|---|---|---|---|---|
||||**2024**|**resources**|**expended**|||**2024**|
||||**£**|**£**|**£**|**£**||**£**|
||||31,404|73,801|(47,576)|(13,112)||44,517|
|**Previous year:**|**At**|**1**|**January**|**Incoming**|**Resources**|**TransfersAt**|**31**|**December**|
||||**2023**|**resources**|**expended**|||**2023**|
||||28,531|66,224|(60,478)|(2,873)||31,404|
## **15 Land Sale Fund**
The Charity has a further reserve known as 'Land Sale'. The Custodian Trustee permits the Charity to receive interest income from the proceeds which were derived from the historical sale of a parcel of land associated with the Trust Deed and placed on term deposit. The accumulated interest is held separate from the other Funds of the Charity pending clarification with the Custodian Trustee and regulators that the funds may be applied to the charitable objectives.
## **16 Assets Purchased**
Assets purchased to maintain the Parish Rooms are expensed in the Statement of Financial Activities. A register of assets is maintained for stewardship and insurance purposes. The cost of such assets recorded in the register at the end of the financial year was £75,602 (2023: £75,099).
## **17 Related Party Transactions**
The Charity received £13,531 (2023: £13,232) from the Trustee as reimbursement of payroll and incidental expenses.
- 10 -