Charity Number: 312554 The Church Tenements Charities: Educational and Church Branches Trustees, Report and Financial Statements For the year ended 31 March 2022
The Church Tenements Charltles: Educatlonal and Church Branchès Report and Flnancial Statements for the year ended 31 March 2022 Contents Legal and administrative details Trustees, Report Independent Examiner's Report ststement of Financial Actiwties Balance Sheet Notes to the Financial Ststement5 7-11
The Church Tenèments Charlties: Educattonal and Churth Branches Report and Financbal Ststements forthe year ended 31 March 2022 Lèyl and adrnln15tr*1¥e detalls Trustees Rev. A Bishop Cllr. M Henson A Esdaile H Dunn PHall Mwunn air. J Perry Re8lStered charlty number 312554 Registered address 125 Glentrammon Road Green Street Orpington BR6 6DQ Independent examiner john Millid8e ACA Sirnpson Wreford & Partners Suffolk House George Street Croydon CRO OYN
The Church Tenements Charltles: Educatlonal and Church Branches Trustees, Rèport Forthe year ended 31 March 2022 The trustees present their report with the financial statements of the charity for the year ended 31 March 2022. The trustees have adopted thè provisions of Accounting and Reporting by Charitie5.' Statement of Recommended Prartice applicable to charities preparin8 their accounts in accordance with the Financial Reportin8 Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective l January 20191. OBJECTNES AND ACTIVITIES ObctIVeS The charity has two branches.. the education branth and the church branch.. Education branch The aims of the education branch are wide rangin& includin8'. to cover expenses of any voluntary aided secondary Church of England school in the borough of Croydon.. to award scholarships and bursaries., to provide financial assistance for school unrforms. tools. in5trurnents or books., to provide maintenance to ertable beneficiaries to travel abroad to pursue education.. and. assSst towards the provision of facilities for recreation and social and physical training for any person resident in or attending a secondary school in the London Borough of Croydon, under 25 year5 of age, who. in the opinion of the Trustees, is in need of finanoal assistance Church For the maintenance and repair of Croydon Minster. Athlèrnents and performance Education branch During the year, the charity provided funds that enabled student5 to participate in school trips relating ro the courses they were studying, and lor the purchase of laptops, books and school uniforms. £2,[ was a150 awarded to support a singing boot amp for 20 local boys. Full details of grants awarded is given in Note 4. Church branch The Minster eeWed a total grant of £24.528 for the continued malntenanee of the church, allowin8 for worship and the benefit of the wider community. FINANCIAL REVIEW The Charity reports ineome in the year of £54.74212021 £52,6631, expenditure of £54.05512021- £49,112> and a surplus of £68712021- £3,551). At the year end. the charity had a net asset balance of £892,40612021- £891,719).
The Churth Tenements Charltles.. Educailonal and Church Branches Trustees. Rèport Icontlnuedl For thè year ended 31 Maf¢h 2022 STRUCTURE, GOVERNANCE AND MANAGEMENT The charity was founded under a scheme dated June 1882, as amended by scheme dated March 1959 and as varied by scheme dated November 1969. It is registered with the Charity Commission under tharity number 312554. Trustee selection will include the Vicar of Croydon Minster as Chair of Trustees, two Church Wardens and an appropriate parishioner appointed by Croydon Minster. two Croydan Counci11grs and an Honorary Alderman appointed by Croydon Council. This report was approved by the trustees on ... and signed on their behalf bv.. Rev. A Bishop Trustee
Independent Examlner's Réport to the Trustees of The Church Tènements Charitles.. Educational and Church 8ranches For the year ended 31 March 2022 I report to the trustees on my exarnination of the accounts of The Church Tenements Charities.. Educational and Church Branches l-the Charity-l for the year ended 31 March 2022. Responslbilitits and basis of report As the charity's trusteesi you are responsible for the preparation of the accounts in accordance with the requlrements of the Charities Act 20111-the Act"l. I report in respect of my examlnatlon of the Trusvs accounts carried gut under sertion 145 01 the 2011 Act and in carrying out rny examination, I have followed all the applicable Directions given by the Charity Comrni5sion under section 14515llbl of the Act. Independent examiner's statement I have completed my examination. l eonfirrn that no material matters have come to my attention in connertion with the examination which 8i¥es me cause to believe that in. any material respect.. the accounting records were not kept in accordance with section 130 of the Charlties Act. or the accounts did not accord with the aecounring records., or the accounts did not comply with the applicable requirements concernin8 the form and content of accounts set out in the Charities IAccounts and Reports) Regulations 2008 other than any requirernent that the accounts give a 'true and fairf view which 15 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 examinatlon to whlch attentlon should be rawn in this report in order to enable a proper understandin8 of the accounts to be reached. John Millidge ACA Simpson Wreford & Partners Suffolk House George Street Croydon CROOYN 15 December 2023 Date..
The Church Tenements Charotles.. Educatoonal and Churth Bran¢hes Statement of Flnancial Artl¥ltie5 Forthè year ended 31 March 2022 Unrestrlcted Fund Church Branth Educztlon Branch Total 2022 Total 2021 INCOMING RESOURCES Investments Voluntary income 32.834 21.908 54.742 51.449 1.214 Total incoming reurteS 32.834 21,908 54,742 52.663 RESOURCES EXPENDED Property costs Charitable activltSe5 Administration and support tosts 1,874 24,528 1,250 22.333 4,070 3,124 46,861 4,070 43.946 5,166 Total resources expended 26,402 27.653 54,055 49,112 NET MOVEMENTIN FUNDS 15.7451 3.551 Fund balance5 at l April 2021 891.719 888,168 Fund balances at 31 March 2022 892,406 891.719 The notes form part of these aetounts.
The Church Tenements Charltles.. Educatlonal and Church Branthes Balance Sheet Registefed number.. 312554 At ai Marth 2022 2022 2022 2021 2021 Notes FIXED ASSETS Inve5trnent propertie5 810,CI)O 810,000 CURRENT ASSETS Current asset investments Trade debtors Cash at bank and in hand 44,040 10.719 42.222 44,021 io 75,964 96.981 119,98S LIABIUTIES Creditors.. Amounts falling due within one year li 14,575 38.266 NET CURRENT ASSETS 82,406 81,719 TOTAL NET ASSETS 892A06 891.719 FUNDS Unrestricted funds li 892.406 891.719 12.12.2023 The financial statèrnents were approved by the board of trustees on ................................. and were signed on its behalf bv.. Rev. A Bishop Trustee P Hall"" Trustee The note5 forrn part ol these accounts.
The Church Tenements Charitles.. Educational and Church Branches Notes to the financial Statements For the year endtd 31 Marth 2022 I. ACCOUNTING POLICIES BasS9 of prepaTlnKthe fjnanclal statements The financial statements of the charity, which is a public benefit entity under FRS 102. have been prepared in accordance with the Charities SORP IFRS 1021 'Accountin8 and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparfng their attounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffective 20191,. The financial statements have been prepared under the historical cost convention, with the exception that investment properties are included at market value. Golng Concern After making approprlate enqulries, the trustees have a reasonable expectation that the charity has adequate resources to continue to operate and meet its liabilities as they fall due for at least 12 months from the date these financial statements were authoTlSed for issue. As a result, the trustees have declded St to be appropriate to adopt the going toncern basis in preparing thesè accounts. Incomln8 resources Income ts reco8nised in the Statement of Financial Activities once the charity ha5 entitlement to the income, it is probable that the inwme will be receivable, any performance condltSons attached to the itemlsl of intorne have been rnet and the amount of income tan be measured reliablv. Rental income is recorded on an accruals basis in line with the rental agreement. Any Sncome recelved In advance of the rental period is deferred until the criteria for income recognition are met. Voluntary income amounts to donated setvices, and are recorded on an accruals basis. They are valued by estimating the time spent at norrnal comrnercial rates. Resources expended Liabilities are recognised a5 resources expended as soon as there is a legal or constructive obli8ation Committing the charity to the expenditure. All expenditure is accounted for on an accruals14asis and has been classified under headin85 that a¥greate all costs related to the cateRorv. Grant payable are payments made to third parties In the furtherance of the charitable objects of the charity. Single or multy. vear grants are accounted for when either the recipient has a reasonable expectatlon that they will receive the grant and the trustees have agreed to pay the grant without condition. or the recipient has a reasonable expectation that they will receive a 8rant and any condition attaching to the grant is outside of the control of the charity. Governance costs include those costs assocSated with meeting the eonsiitutional and 5tat¥tory requirements of the tharity. Irrecoverable VAT Irrewverable VAT is charged against the category of resources expended forwhich it was incurred. Tamation The charity 15 exempt from corporation tax on its charitable activltles.
The Church Tenements Charitie5.' Edtional and Churth Branches Notes to the Financial Statements Icontinuedl For the year ended 31 March 2022 I. ACCOUNTING POLICIES ICONTINUEDI Investment propertles Investment properties are held initially at C05t and subsequently at fair value at the reporting date. The staternent of financial activities includes the net 8ain5 and losses arising on revaluation. Debtors Short term debtors are measured at transaction price, less any impalrmenL Current asset Investments Current asset investments are valued at falr value unlè55 they qualify as'basic, financial assets. Cash at bank and In hand Cash at bank and in hand includes cash and short term hi8hly liquid investment5 Wlth a Short maturity of three months or ess from the date of acquisition or opening of the dep951t or similar account. Credltors and provisions Creditors and provisions are recogni5ed where the charity has a present obll8ation resulting frorn 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 e5tirnated reliably. Creditors and provisiong are norrnally recognised at their settlement amount after allowin8 for any trade discounts due. Bask tknanclal Instruments The charitable company has elected to apply the pr¢)visions of Section 11 '8asic Financial Instruments, and Section 12 'OtheT Financial Instruments Issues, of FRS 102 to all of its financial instruments. Financial instruments are recognised in the Balance Sheet when the charitable company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there Is a legal enforceable right to Set off the reco8nised amounts and there Is an intention to settle on a net basis or to realise the asset and settle the liabilitv simultaneou51v
The Churth Tenements Charlties.. Edutatlonal and Church Branches Notès to the Flnanclal Statements Icontlnuedl Forthè yèar ended 31 March 2022 2. INCOMING RESOURCES Churth Branch Education Branch Totsl 2022 Total 2021 Investments Rental income Interest on deposits 32,834 21,889 19 54,723 19 51,397 52 32.834 21.908 54,742 51,449 Voluntary Income Donated servites 1,214 32,834 21.908 54.742 52,663 3. RESOURCES EXPENDED PROPERTY COSTS Church Branch Educatlon 8ran¢h Total 2022 Total 2021 Repairs and maintenance costs Legal and professional fees Other property costs 42 102 1,730 28 68 1.154 70 170 2,884 1,874 1,250 3.124 RESOURCES EXPENDED CHARITABLE ACTIVITIES Church Branch Education Branch Total 2022 Totsl 2021 Church Wardens of Croydon Minster Grants fvnded 24,528 24,528 22,333 28,506 15,440 22.333 24,528 22.333 46.861 43,946 Grants funded inclyde: Educational grants18 individual 8rant$12021- 711 Youn8 Roots Croydon Youth Information & Counsellin8 Service Libera Archbishop Tennison School 2,608 500 15.8 2,0(Kl 1,425 2,608 500 15,800 2,000 1.425 2,640 12,800 22,333 22.333 15.440
The Church Tènements Charitie5.' Educatlonal and Church Branches Notes to the Flnanclal Statements Icontinuèdl For the year ended 31 March 2022 S. RESOURCES EXPENDED ADMINISTRATION AND SUPPORT COSTS Church Branch Educatlon Branch Total 2022 Total 2021 Management and admlnistration tosts Services dgnated by Croydon Council Independent examlnatSon fees 1.790 1,790 1,792 1,214 2,160 2,280 2.280 4.070 4.070 5,166 Included within mana8ement and administration costs is an honorarium of £1,6C¥J paid to the Clerk to the frustees12021- £1.6001. Services provided by Croydon Council relate to the provision of officer5, time in attendance at the quarterly Trustee5' meetings. other ad-hoc meetings, bookkeepin8 serVIS and the preparation ol the annual accounts. Croydon Council also provides the use of a room In which all Tru5tees' meetings are held and pays for the reprographic and postal services incurred bv the Charifv. 6. COMPARATIVE STATEMENTOF FINANCIALACTIVITIES- 2021 Church Branch Education Branch Total 2021 INCOMING RESOURCES Investments Voluntsry income 30,838 20.611 1.214 51.449 1,214 Totsl intornin¥ resources 30,838 21.825 52.663 RESOURCES EXPENDED Charitable activities Administration and support costs 28,5( 15,440 5,166 43.946 5,166 Totsl rèsources expended 28,506 20,606 49.112 NEf MOVEMENT IN FUNDS 2,332 1,219 3.551 7. STAFF COSTS The charlty dld not Incur any staff c95ts in the year. or in the prior year. io
The Church Tenements Charltles.. Educational and Churth Branches Notes to the Finantial Ststements Icontlnuedl For the year Ènded 31 March 2022 8. INVESTMENT PROPERTIES Total Falr Value At l April 2021 and 31 March 2022 810,0(K) Nel book value At 31 Marth 2022 810.000 At 31 March 2021 810,(M)O The charity owns an investment property that 15 rented out to tenants. The property is held at current market value and was independently valued at £810,(x)O by Thurstan Hall Williams, 8Sc, MRICS, RICS Registered Valuer of Stiles Harold Williams Partnership LLP on 12 November 2015. The valuation was carried out In accordance with the RICS Professional Standards. Januarv 2014. The trustees have reviewed the valuation of the investment property and consider it to be stated at fair value after taking in to consideration comparable properties and market obSeation. 9. CURRENT ASSET INVESTMENtS 2022 2021 Charitses Deposit Fund 44.040 44,021 10. TRADE DEBTORS 2022 2021 Rent Recelvable 10,719 11. UABIUTIES Creditgr5'. amounts fallin8 due within one year 2022 2021 Grant5 payable Other creditors Accrued expense5 275 7.7Crf) 6,6 33,946 4.320 14,575 38.266 12. FUNDS All fvnds are available to further the principal aims ol the charity and as such are unrestricted. 13. RELATED PARTY TRANSACTIONS There wère no related party transactions in the year. or in the pOr year. None of the Trustees lor any persons eonnerted wlth them) received any remuneration during the year. or in the prior year. No tru5tee5 were reimbursed expenses durin8 the vear, or in the prior vear. li