Charity Number: 312554
The Church Tenements Chari�es: Educational and Church Branches
Trustees' Report and Financial Statements For the period ended 30 September 2023
**The Church Tenements Chari�es: Educa�onal and Church Branches Report and Financial Statements for the period ended 30 September 2023**
## **Contents**
|Legal and administra�ve details|1|
|---|---|
|Trustees' Report|2 - 3|
|Independent Examiner's Report|4|
|Statement of Financial Ac�vi�es|5|
|Balance Sheet|6|
|Notes to the Financial Statements|7 - 12|
**The Church Tenements Chari�es: Educa�onal and Church Branches Report and Financial Statements for the period ended 30 September 2023**
## **Legal and administra�ve details**
|Trustees|Rev. A Bishop|
|---|---|
||Cllr. M Henson|
||A Esdaile|
||H Dunn|
||P Hall (resigned May 2024)|
||M Wunn|
||Mayor J Perry|
||S Willmer (appointed May 2024)|
|Registered charity number|312554|
|Registered address|125 Glentrammon Road|
||Green Street|
||Orpington|
||BR6 6DQ|
|Independent examiner|John Millidge ACA|
||TC Group|
||Sufolk House|
||George Street|
||Croydon|
||CR0 0YN|
1
**The Church Tenements Chari�es: Educa�onal and Church Branches Trustees' Report**
## **For the period ended 30 September 2023**
The trustees present their report with the financial statements of the charity for the period ended 30 September 2023.
During the period the trustees resolved to change the accoun�ng year end from 31 March to 30 September. These financial statements have been prepared for the 18 month period ended 30 September 2023.
The trustees have adopted the provisions of Accoun�ng and Repor�ng by Chari�es: Statement of Recommended Prac�ce applicable to chari�es preparing their accounts in accordance with the Financial Repor�ng Standard applicable in the UK and Republic of Ireland (FRS 102) (effec�ve 1 January 2019).
## **OBJECTIVES AND ACTIVITIES**
## **Objec�ves**
The charity has two branches: the educa�on branch and the church branch:
## Educa�on branch
The aims of the educa�on branch are wide ranging, including:
- 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 uniforms, tools, instruments or books;
- to provide maintenance to enable beneficiaries to travel abroad to pursue educa�on; and,
- assist towards the provision of facili�es for recrea�on and social and physical training for any person resident in or a�ending a secondary school in the London Borough of Croydon, under 25 years of age, who, in the opinion of the Trustees, is in need of financial assistance
## Church branch
For the maintenance and repair of Croydon Minster.
## **Achievements and performance**
## Educa�on branch
During the year, the charity provided funds that enabled students to par�cipate in school trips rela�ng to the courses that they were studying, and for the purchase of laptops, books and school uniforms. In addi�on, £2,000 was awarded to support a singing boot camp for 20 local boys. Full details of grants awarded is given in Note 4.
## Church branch
The Minster received a total grant of £39,563 for the con�nued maintenance of the church, allowing for worship and the benefit of the wider community.
## **FINANCIAL REVIEW**
The Charity reports in the 18 month period to 30 September 2023 income of £74,686, expenditure of £61,198 and a surplus of £13,488, compared to the 12 month period to 31 March 2022 income of £54,742, expenditure of £54,055 and a surplus of £687.
At the period end, the charity had a net asset balance of £905,894 (2022 - £892,406).
2
**The Church Tenements Chari�es: Educa�onal and Church Branches Trustees' Report (con�nued)**
## **For the period ended 30 September 2023**
## **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 charity 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 Croydon Councillors and an Honorary Alderman appointed by Croydon Council.
This report was approved by the trustees on 31/01/25 and signed on their behalf by:
Rev. A Bishop Trustee
Arlene Esdaile Trustee
3
**Independent Examiner's Report to the Trustees of**
## **The Church Tenements Chari�es: Educa�onal and Church Branches For the period ended 30 September 2023**
I report to the trustees on my examina�on of the accounts of The Church Tenements Chari�es: Educa�onal and Church Branches (“the Charity”) for the period ended 30 September 2023.
## **Responsibili�es and basis of report**
As the charity's trustees, you are responsible for the prepara�on of the accounts in accordance with the requirements of the Chari�es Act 2011 (“the Act”).
I report in respect of my examina�on of the Trust’s accounts carried out under sec�on 145 of the 2011 Act and in carrying out my examina�on, I have followed all the applicable Directions given by the Charity Commission under sec�on 145(5)(b) of the Act.
## **Independent examiner's statement**
I have completed my examina�on. I confirm that no material ma�ers have come to my a�en�on in connec�on with the examina�on which gives me cause to believe that in, any material respect:
- the accoun�ng records were not kept in accordance with sec�on 130 of the Chari�es Act; or
- the accounts did not accord with the accoun�ng records; or
- the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Chari�es (Accounts and Reports) Regula�ons 2008 other than any requirement that the accounts give a ‘true and fair’ view which is not a ma�er considered as part of an independent examina�on.
I have no concerns and have come across no other ma�ers in connec�on with the examina�on to which a�en�on should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
John Millidge ACA TC Group Suffolk House George Street Croydon CR0 0YN
Date: 31 January 2025
4
**The Church Tenements Chari�es: Educa�onal and Church Branches Statement of Financial Ac�vi�es**
## **For the period ended 30 September 2023**
|**Notes**
**INCOMING RESOURCES**
Investments
2
**Total incoming resources**
**RESOURCES EXPENDED**
Property costs
3
Charitable ac�vi�es
4
Administra�on and support costs
5
**Total resources expended**
**NET MOVEMENT IN FUNDS**
Fund balances at 1 April 2022
**Fund balances at 30 September 2023**|**Church**
**Educa�on**
**Branch**
**Branch**
**£**
**£**
43,748
30,938
43,748
30,938
1,939
1,292
39,563
13,712
-
4,692
41,502
19,696
**2,246**
**11,242**
**Unrestricted Fund**|**18 months**
**ended**
**30-Sep**
**2023**
**£**
74,686
74,686
3,231
53,275
4,692
61,198
**13,488**
892,406
**905,894**|**Year ended**
**31-Mar**
**2022**
**£**
54,742|
|---|---|---|---|
||||54,742|
||||3,124
46,861
4,070|
||||54,055|
||||**687**
891,719|
||||**892,406**|
The notes form part of these accounts.
5
**The Church Tenements Chari�es: Educa�onal and Church Branches Balance Sheet**
**Registered number: 312554**
## **At 30 September 2023**
|**Notes**
**FIXED ASSETS**
Investment proper�es
8
**CURRENT ASSETS**
Current asset investments
9
Debtors
10
Cash at bank and in hand
**LIABILITIES**
Creditors: Amounts falling due within one year
11
**NET CURRENT ASSETS**
**TOTAL NET ASSETS**
**FUNDS**
Unrestricted funds
11|**30-Sep-23**
**£**
45,812
12,612
45,305
103,729
7,835|**30-Sep-23**
**£**
810,000
95,894
**905,894**
**905,894**|**31-Mar-22**
**£**
44,040
10,719
42,222
96,981
14,575|**31-Mar-22**
**£**
810,000|
|---|---|---|---|---|
|||||82,406|
|||||**892,406**|
|||||**892,406**|
The financial statements were approved by the board of trustees on 31/01/2025 and were signed on its behalf by :
Rev. A Bishop Trustee
A rlene Esdaile Trustee
The notes form part of these accounts.
6
**The Church Tenements Chari�es: Educa�onal and Church Branches Notes to the Financial Statements**
## **For the period ended 30 September 2023**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charity, which is a public benefit en�ty under FRS 102, have been prepared in accordance with the Chari�es SORP (FRS 102) 'Accoun�ng and Repor�ng by Chari�es: Statement of Recommended Prac�ce applicable to chari�es preparing their accounts in accordance with the Financial Repor�ng Standard applicable in the UK and Republic of Ireland (FRS 102) (effec�ve 2019)'. The financial statements have been prepared under the historical cost conven�on, with the excep�on that investment proper�es are included at market value.
## **Going concern**
A�er making appropriate enquiries, the trustees have a reasonable expecta�on that the charity has adequate resources to con�nue to operate and meet its liabili�es as they fall due for at least 12 months from the date these financial statements were authorised for issue. As a result, the trustees have decided it to be appropriate to adopt the going concern basis in preparing these accounts.
## **Incoming resources**
Income is recognised in the Statement of Financial Ac�vi�es once the charity has en�tlement to the income, it is probable that the income will be receivable, any performance condi�ons a�ached to the item(s) of income have been met and the amount of income can be measured reliably.
Rental income is recorded on an accruals basis in line with the rental agreement. Any income received in advance of the rental period is deferred un�l the criteria for income recogni�on are met.
Voluntary income amounts to donated services, and are recorded on an accruals basis. They are valued by es�ma�ng the �me spent at normal commercial rates.
## **Resources expended**
Liabili�es are recognised as resources expended as soon as there is a legal or construc�ve obliga�on commi�ng the charity to the expenditure. All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category.
Grant payable are payments made to third par�es in the furtherance of the charitable objects of the charity. Single or mul�-year grants are accounted for when either the recipient has a reasonable expecta�on that they will receive the grant and the trustees have agreed to pay the grant without condi�on, or the recipient has a reasonable expecta�on that they will receive a grant and any condi�on a�aching to the grant is outside of the control of the charity.
Governance costs include those costs associated with meeting the cons�tu�onal and statutory requirements of the charity.
## **Irrecoverable VAT**
Irrecoverable VAT is charged against the category of resources expended for which it was incurred.
## **Taxa�on**
The charity is exempt from corpora�on tax on its charitable ac�vi�es.
7
**The Church Tenements Chari�es: Educa�onal and Church Branches Notes to the Financial Statements (con�nued)**
**For the period ended 30 September 2023**
## **1. ACCOUNTING POLICIES (CONTINUED)**
## **Investment proper�es**
Investment proper�es are held ini�ally at cost and subsequently at fair value at the repor�ng date. The statement of financial ac�vi�es includes the net gains and losses arising on revalua�on.
## **Debtors**
Short term debtors are measured at transac�on price, less any impairment.
## **Current asset investments**
Current asset investments are valued at fair value unless they qualify as 'basic' financial assets.
## **Cash at bank and in hand**
Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisi�on or opening of the deposit or similar account.
## **Creditors and provisions**
Creditors and provisions are recognised where the charity has a present obliga�on resul�ng from a past event that will probably result in the transfer of funds to a third party and the amount due to se�le the obliga�on can be measured or es�mated reliably. Creditors and provisions are normally recognised at their settlement amount a�er allowing for any trade discounts due.
## **Basic financial instruments**
The charitable company has elected to apply the provisions of Sec�on 11 'Basic Financial Instruments' and Sec�on 12 'Other 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 liabili�es are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an inten�on to se�le on a net basis or to realise the asset and se�le the liability simultaneously
8
**The Church Tenements Chari�es: Educa�onal and Church Branches Notes to the Financial Statements (con�nued)**
## **For the period ended 30 September 2023**
## **2. INCOMING RESOURCES**
|**Investments**
Rental income
Interest on deposits
**3. RESOURCES EXPENDED**
**PROPERTY COSTS**
Repairs and maintenance costs
Legal and professional fees
Other property costs
**4. RESOURCES EXPENDED**
**CHARITABLE ACTIVITIES**
Church Wardens of Croydon Minster
Grants funded
**Grants funded include:**
Educa�onal grants (6 individual grants (2022 - 8))
Young Roots
Croydon Youth Informa�on & Counselling Service
Libera
Archbishop Tennison School|**Church**
**Branch**
**£**
43,748
-
43,748
**Church**
**Branch**
**£**
-
898
1,041
1,939
**Church**
**Branch**
**£**
39,563
-
39,563|**Educa�on**
**Branch**
**£**
29,166
1,772
30,938
**Educa�on**
**Branch**
**£**
-
598
694
1,292
**Educa�on**
**Branch**
**£**
-
13,712
13,712
**£**
1,957
-
8,850
2,000
905
13,712|**18 months**
**ended**
**30-Sep**
**2023**
**£**
72,914
1,772
74,686
**18 months**
**ended**
**30-Sep**
**2023**
**£**
-
1,496
1,735
3,231
**18 months**
**ended**
**30-Sep**
**2023**
**£**
39,563
13,712
53,275
**£**
1,957
-
8,850
2,000
905
13,712|**Year ended**
**31-Mar**
**2022**
**£**
54,723
19|
|---|---|---|---|---|
|||||54,742|
|||||**Year ended**
**31-Mar**
**2022**
**£**
70
170
2,884|
|||||3,124|
|||||**Year ended**
**31-Mar**
**2022**
**£**
24,528
22,333|
|||||46,861|
|||||**£**
2,608
500
15,800
2,000
1,425|
|||||22,333|
`
9
**The Church Tenements Chari�es: Educa�onal and Church Branches**
## **Notes to the Financial Statements (con�nued)**
## **For the period ended 30 September 2023**
## **5. RESOURCES EXPENDED**
|**ADMINISTRATION AND SUPPORT COSTS**
Management and administra�on costs
Services donated by Croydon Council
Independent examina�on fees|**Church**
**Branch**
**£**
-
-
-
-|**Educa�on**
**Branch**
**£**
2,412
-
2,280
4,692|**18 months**
**ended**
**30-Sep**
**2023**
**£**
2,412
-
2,280
4,692|**Year ended**
**31-Mar**
**2022**
**£**
1,790
-
2,280|
|---|---|---|---|---|
|||||4,070|
Included within management and administra�on costs is an honorarium of £2,025 paid to the Clerk to the Trustees (31 Mar 2022 - £1,600).
## **6. COMPARATIVE STATEMENT OF FINANCIAL ACTIVITIES - 31 Mar 2022**
|**COMPARATIVE STATEMENT OF FINANCIAL ACTIVITIES - 31 Mar 2022**||||
|---|---|---|---|
|**INCOMING RESOURCES**
Investments
**Total incoming resources**
**RESOURCES EXPENDED**
Property costs
Property costs
Charitable ac�vi�es
Administra�on and support costs
**Total resources expended**
**NET MOVEMENT IN FUNDS**|**Church**
**Branch**
**£**
32,834
32,834
-
1,874
24,528
-
26,402
**6,432**|**Educa�on**
**Branch**
**£**
21,908
21,908
-
1,250
22,333
4,070
27,653
**(5,745)**|**Year ended**
**31-Mar**
**2022**
**£**
54,742|
||||54,742|
||||-
3,124
46,861
4,070|
||||54,055|
||||**687**|
## **7. STAFF COSTS**
The charity did not incur any staff costs in the period, or in the prior year.
10
**The Church Tenements Chari�es: Educa�onal and Church Branches Notes to the Financial Statements (con�nued)**
## **For the period ended 30 September 2023**
|**INVESTMENT PROPERTIES**
**Fair value**
At 1 April 2022
and 30 September 2023
**Net book value**
At 30 September 2023
At 31 March 2022|**Total**
**£**
810,000|
|---|---|
||810,000|
||810,000|
## **8. INVESTMENT PROPERTIES**
The charity owns an investment property that is rented out to tenants. The property is held at current market value and was independently valued at £810,000 by Thurstan Hall Williams, BSc, MRICS, RICS Registered Valuer of S�les Harold Williams Partnership LLP on 12 November 2015. The valua�on was carried out in accordance with the RICS Professional Standards, January 2014.
The trustees have reviewed the valua�on of the investment property and consider it to be stated at fair value a�er taking in to considera�on comparable proper�es and market observa�on.
|**9. CURRENT ASSET INVESTMENTS**
Chari�es Deposit Fund
**10.TRADE DEBTORS**
Rent Receivable
Other debtors
**11.LIABILITIES**
**Creditors: amounts falling due within one year**
Grants payable
Other creditors
Accrued expenses|**30-Sep-23**
**£**
45,812
**30-Sep-23**
**£**
12,462
150
12,612
**30-Sep-23**
**£**
300
2,975
4,560
7,835|**31-Mar-22**
**£**
44,040|
|---|---|---|
|||**31-Mar-22**
**£**
10,719
-|
|||10,719|
|||**31-Mar-22**
**£**
275
7,700
6,600|
|||14,575|
11
**The Church Tenements Chari�es: Educa�onal and Church Branches Notes to the Financial Statements (con�nued)**
## **For the period ended 30 September 2023**
## **12.FUNDS**
All funds are available to further the principal aims of the charity and as such are unrestricted.
## **13.RELATED PARTY TRANSACTIONS**
There were no related party transac�ons in the year, or in the prior year. None of the Trustees (or any persons connected with them) received any remunera�on during the year, or in the prior year. No trustees were reimbursed expenses during the year, or in the prior year.
12