Charity Number.. 312554 The Church Tenements Charities: Educational and Church Branches Trustees, Report and Financial Statements For the period ended 31 December 2024 The Church Tenements Charities: Educatlonal and Church Branches Report and Financial Statement5 for the period ended 31 December 2024 Contents Legal and administrative detai15 Tru5tees' Report Independent Examiner's Report Statement of Financial Activities Balance Sheet Notes to the Financial Statements 7-12 The Church Tenements Charities: Educational and Church Branches Report and Financial Statements for the period ended 31 December 2024 Legal and administrative details Trustees Rev. A Bishop Cllr. M Henson A Esdaile (resigned June 20251 H Dunn P Hall Iresigned May 20241 M Wunn {resigned April 20241 Mayorj Perry S Willmer lappointed June 20241 H Ansong (appointed June 20251 Registered charity number 312554 Registered address 125 Glentrammon Road Green Street Orpin8ton BR6 6DQ Independent examiner John Millidge ACA TC Group Suffolk House George Street Croydon CRO OYN The Church Tenements Charities: Educational and Church Branches Trustees, Report Forthe period ended 31 December 2024 The trustees present their report with the financial statements of the charity for the period ended 31 December 2024. During the period the trustees re501ved to change the accounting year end from 30 September to 31 December. These financial Statements have been prepared for the 15 month period ended 31 December 2024. The comparative period financial results were prepared for the 18 month period end 30 September 2023. The trustees have adopted the provisions of 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 IFRS 1021 leffective l January 20191. OBJECTIVES AND AcrivmES ObJe¢tlves The charity has two branches: the education branch and the church branch: Education branch The aims of the education 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 education; and, assist 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 years of age, who, in the opinion of the Tru5tee5, is in need of financial asslstance Church branch For the maintenance and repair of Croydon Minster. Achievements and performance Education branch During the period. the charity provided funds that enabled students to participate in school trips relating to the course5 that they were studying, and for the purchase of laptops, books and school uniforms. In addition, £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 £30.722 for the continued maintenance of the church. allowing for worship and the benefit ofthe wider community. FINANCIAL REVIEW For the 15 month period ended 31 De¢ember 2024 the charity reported income of E68,218, expenditure of £48,332 and a surplus of £19,886. This compare5 to the 18 month period to 30 September 2023, when income totalled £74,686, expenditure amounted to £61,198 and a surplus of £13,488 was recorded. At the period end. the charity had a net a55et balance of £925,78012023 - £905,894). The Church Tenements Charities: Educational and Church Branches Trustees, Report {¢ontlnuedl Forthe period ended 31 December 2024 STRucfuRE, 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 Mir15ter a5 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 . and signed on their behalf by- Rev. A Bishop Trustee ## **Independent Examiner's Report to the Trustees of** ## **The Church Tenements Charities: Educational and Church Branches** > **For the period ended 31 December 2024** > I 7” report to the Soe trustees a on my ee examination ee of ee the accounts ees of 2 The Church ee Tenements ees Charities: ee Educational ee and eee Church > Branches ("the Charity") for the period ended 31 December 2024. ## **Responsibilities and** ‘ | **basis of report** | > As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011("the Act"). I report in respect of my examination of the Trust's accounts carried out under section 145 of the 2011 Act and | in carrying out my | examination, I have | followed all the applicable Directions z given by ah the Charity Commission | under section 145(5)(b) of the Act. ## **Independent examiner's statement** I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives i me L cause to believe | that in, | any ' iy material | respect: - the accounting records were not kept in accordance with section 130 of the Charities Act; or - - the accounts did not accord with the accounting records; or - the accounts did 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 oe concerns ees and have es come across ee no es other ee matters ees 2 in connection with es the es examination ee to which ee attention eee should eee be drawn CO in this report in order to enable CC a proper ert understanding (ii‘Creditors:Amountsfallingduewithinoneyear|11|9,895
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a| |**NET CURRENT ASSETS**|||||115,780||95,794| ||||||||—s| |**TOTAL NET ASSETS**|||||**925,780**||**905,794**
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—| |**FUNDS**|||||||| |Unrestrictedfunds|11||||**925,780**||**905,794**| |||||————|||———| |Thefinancialstatementswereapprovedbytheboard|boardoftrustees|trusteeson|29 October 2025|29 October 2025||andweresignedon|onitsbehalf| |by:|||||||| |Rev.A Bishop||HAnsong|||||| |Trustee||Trustee|||||| |SWillmer|||||||| |Trustee|||||||| The notes form part of these accounts. 6 The Church Tenement5 Charities: Educational and Church Branches Notes to the Financial Statements Forthe period ended 31 December 2024 I. ACCOUNTING POLICIES Basis of preparing the financial 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 '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 IFRS 1021 (effective 20191,. The financial statements have been prepared under the historical c05t convention, with the exception that investment properties are included at market value. Going concern After making appropriate enquiries, the trustee5 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 authorised for issue. As a result, the trustees have decided it to be appropriate to adopt the going concern basis in preparin8 these accounts. Incoming resources Income 15 recognised in the Statement of Financial Activities once the charity has entitlement to the income, it 15 probable that the income will be receivable, any performance conditions attached to the item(51 of income have been met and the amount of income can be measured reliably. Rental income is recorded on an a¢cruals basis in line with the rental agreement. Any income received in advance of the rental period is deferred until the criteria for income recognition are met. Voluntary income amounts to donated services, and are recorded on an accruals basis. They are valued by estimating the time spent at normal commercial rates. Resource5 expended Liabilities are recognised as re50urce5 expended as soon as there is a legal or constructive obligation committing 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 parties in the furtherance of the charitable objects of the charity. Single or multi-year grants are accounted for when either the recipient has a reasonable expertation 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 grant and any condition attaching to the grant is outside of the control of the charity. Governance costs include those Costs associated with meeting the constitutional and statutory requirements of the charity. Irrecoverable VAT Irrecoverable VAT is charged against the category of resources expended for which it was incurred. Taxatlon The charity is exempt from corporation tax on its charitable artivities. The Church Tenements Charities: Educational and Church Branches Notes to the Financial Statements {continuedl For the period ended 31 December 2024 I. ACCOUNTING POLICIES (CONTINUED) Investment propertles Investment properties are held initially at cost and subsequently at fair value at the reporting date. The statement of financial activities includes the net gains and losses arising on revaluation. Debtors Short term debtors are measured at transaction 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 le55 from the date of acquisition or opening of the deposit or similar account. Credltors and provisions Creditors and provisions are recognised where the charity has a present obligation resulting 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 normally recognised at their settlement amount after allowing for any trade discounts due. Bas1¢ financlal Instruments The charitable company has elected to apply the provisions of Section 11 'Ba5ic Financial Instruments, and Section 12 'Other Financial Instruments Issues, of FRS 102 to all of its financial instrumerits. 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 legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously The Church Tenements Charities: Educational and Church Branches Notes to the Financial Statements Icontinuedl For the period ended 31 December 2024 2. INCOMING RESOURCES IS months ended 31-Dec 2024 18 months ended 30-Sep 2023 Church Branch Education Branch Investments Rental income Interest on deposits 39,150 26,100 2,968 65,250 2,968 72,914 1,772 39,150 29,068 68,218 74,686 3. RESOURCES EXPENDED PROPERTY COSTS 15 months ended 31-Dec 2024 18 months ended 30-Sep 2023 Church Branch Educatlon Branch Repairs and maintenance costs Legal and professional fees Other property costs 398 70 266 46 664 116 1,496 1,735 468 312 780 3,231 4. RESOURCES EXPENDED CHARITABLE ACTIVITIES 15 months ended 31-Dec 2024 18 months ended 30-Sep 2023 Church Branch Educatlon Branch Church Wardens of Croydon Minster Grants funded 30,722 30,722 11,975 39,563 13,712 11,975 30,722 11,975 42,697 53,275 Grants funded Include: Educational grants12 individual grants12023 - 611 Young Roots Croydon Youth Information & Coun5elling Service Libera Archbishop Tennison School 850 850 1,957 7,500 2.000 1,475 7,500 2,000 1,475 8,850 2,000 905 11,825 11,825 13.712 The Church Tenements Charities: Educational and Church Branches Notes to the Financial Statements (continued) For the period ended 31 December 2024 5. RESOURCES EXPENDED ADMINISTRATION AND SUPPORT COSTS 15 months ended 31-Dec 2024 18 months ended 30-Sep 2023 Church Branch Education Branch Management and administration costs Independent examination fees 2,215 2,640 2,215 2,640 2,412 2,280 4,855 4,855 4,692 Included within management and administration costs is an honorarium of £2,000 paid to the Clerk to the Trustees130 Sep 2023- £2,025). 6. COMPARATIVE STATEMENT OF FINANCIAL ACTIVITIES- 30 Sep 2023 18 months ended 30-Sep 2023 Church Branch Educatlon 8ran¢h INCOMING RESOURCES Investments 43.748 30.938 74,686 Total incoming resources 43,748 30,938 74,686 RESOURCES EXPENDED Property costs Charitable activities Administration and support costs 1,939 39,563 1,292 13,712 4,692 3.231 53,275 4,692 Total resources expended 41,502 19.696 61,198 NEf MOVEMENT IN FUNDS 2,246 11,242 13,488 7. STAFF COSTS The charity did not incur any staff costs in the period, or in the prior period. io The Church Tenements Charities: Educational and Church Branches Notes to the Financial Statements (continued) For the period ended 31 December 2024 8. INVESTMENT PROPERTIES Total Fair value At l October 2023 and 31 December 2024 810,000 Net book value At 31 December 2024 810,000 At 30 September 2023 810,000 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 Stiles Harold Williams Partnership LLP on 12 November 2015. The valuation was carried out in accordance with the RICS Professional Standards, January 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 observation. 9. CURRENT ASSEf INVESTMENTS 31-Dec-24 31>5ep-23 Charities Deposit Fund 48,780 45,812 10,TRADE DEBTORS 31-Dec-24 30-Sep-23 Rent Receivable Other debtors 12.857 12,462 150 12,857 12,612 11. LIABILITIES Credltors: amounts falling due within one year 31-De¢-24 30-Sep-23 Grants payable Other creditors Accrued expenses 300 2,975 4,560 4,975 4,920 9,895 7,835 li The Church Tenement5 Charities: Educational and Church Branches Notes to the Financial Statements (continued) For the period ended 31 Decernber 2024 IZ. 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 transactions in the period, or in the prior period. None of the Trustees lor any persons connected with them) received any remuneration during the period, or in the prior period. No trustees were reimbursed expenses during the period. or in the prior period. 12