CHARITY REGISTRATION NUMBER: 509204
Spalding Rectory Feoffees Unaudited Financial Statements
for the year ended 5th April 2025
,
Spalding Rectory Feoffees
Financial Statements
for the year ended 5th April 2025 a
| Pages | |
|---|---|
| Trustees' annual report | 1to2 |
| Independentexaminer's report to the trustees | 3 |
| Statement offinancial activities | 4 |
| Statementoffinancial position | 5 |
| Notestothefinancialstatements | 6to9 |
Spalding Rectory Feoffees
Trustees' Annual Report —rfo r the year ended 5th April 2025r
The trustees present their report and the unaudited financial statements of the charity for the year ended 5th April 2025.
Reference and Administrative Details
Registered charity name Spalding Rectory Feoffees Charity registration number 509204 Principal office c/o Jane Mawer LLB Clerk to Spalding Rectory Feoffees Maples Solicitors LLP 23 New Road Spalding PE11 1DH The Trustees Adriaan Pieter Van Egmond Michael John Richardson Nell Melvyn Price Thomas Henry Charlton Adrian Robert Parker Sarah Marion Chadd _— (Resigned 16 March 2024) Andrew Mark Briggs (Reappointed 9" February 2025) Catherine Helen Hay David John Clements Alan Machin Roger Jeffrey Smith (Resigned 30" January 2025)
The Trustees
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Independent examiner
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David Wright
Structure, Governance and Management
The Charity Commissioners for England and Wales, under the power given in the Charities Act 1993, ordered that as from 1st October 2003 (as amended on 2" January 2022) a new scheme would govern the charity. This new scheme replaced the original trust deed dated 1st March 1620. In accordance with the Charity Commission Scheme new Feoffees are appointed by the existing Feoffees. When a vacancy exists the Feoffees carefully consider potential new trustees, taking into account connections with St. Mary and St. Nicolas Spalding and appropriate skills required for the good governance of the Charity (particularly farming, legal and accountancy skills). At 5" April 2025 there were three vacancies (one of which has been subsequently filled) and the Feoffees are actively considering making further appointments.
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Spalding Rectory Feoffees
Trustees' Annual Report (continuea)
for the year ended 5th April 2025
ee
Objectives and Activities
The objects of the charity are: (1) trustees first to pay a stipend to the Vicar of Spalding that will be no less than the highest stipend usually payable to clergy (not being Bishops, Archdeacons or the Dean) within the Diocese of Lincoln with the trustees (subject to that) having discretion as to the amount of the stipend to be paid from time to time; and then
(2) apply the residue of the income to further religious and other charitable work of the Church of England in the area of benefit, (the area of benefit means the ecclesiastical parish of St. Mary and St. Nicolas, Spalding).
Achievements and Performance
The Charity trustees have complied with the duty in section 4 of the Charities Act 2006 to have due regard to Public Benefit Guidance published by the Charity Commission. The charity trustees consider that the Charity has in the year to 5th April 2025 provided a Public Benefit by provision of clergy (the Rev'd J D Bennett (retired 30!" June 2024) and The Rev'd Canon D McFarland Interim Priest in Charge) who exercise a wide ministry to those within the church community and in the wider community. For example, pastoral ministry is provided through funerals, weddings and baptisms to many in the community; clergy lead school assemblies and provide other support to schools. The grant to St. Mary and St. Nicolas PCC enabled appropriate office staff to be employed which increases the efficiency of the work of the clergy and the availability of church facilities to the whole community.
Financial Review
Financial position
The net income for the year amounted to £372. (2024 The net expenditure for the year amounted to £3,882).
Reserves policy
The Trustees aim to maintain the capital value of the Charity in real terms and to apply the surplus income for the purposes of the Charity.
However, the working capital and cashflow requirements of the Charity mean that the Trustees maintain within free reserves a minimum amount of not less than six months operating expenses.
The trustees’ annual report was approved on 11" November 2025 and signed on behalf of the board of trustees by:
Adrian Robert Parker Trustee
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Spalding Rectory Feoffees
Independent Examiner's Report to the Trustees of Spalding Rectory Feoffees
| report to the trustees on my examination of the financial statements of Spalding Rectory Feoffees (‘the Charity’) for the year ended 5th April 2025.
Responsibilities and Basis of Report
As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’).
| report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in Carrying out my examination | have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent Examiner's Statement
| have completed my examination. | 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:
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accounting records were not kept in respect of the charity as required by section 130 of the Act; or
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_ the financial statements do not accord with those records; or
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_ 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.
| have no concerns and have come across no other matters in connection with the examination to which attentionreached. should be drawn in this report in order to enable a proper understanding of the accounts to be
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,
David Wright isi C) oy; Ll
Independent Examiner
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11" November 2025
3 re
Spalding Rectory Feoffees
Statement of Financial Activities
$$eeefor the year ended 5th AprilEe 2025OOO eC“
| 2025 | 2025 | 2024 | ||
|---|---|---|---|---|
| Unrestricted | ||||
| funds | Totalfunds | Total funds | ||
| Income | Note | £ | £ | £ |
| Investmentincome Other income |
4 5 |
96,633 2,926 |
96,633 2,926 |
84,358 5,597 |
| Total income | 99,559 | 99,559 | 89,955 | |
| Expenditure | ||||
| Expenditure on charitable activities | 6 | 99,187 | 99,187 | 93,837 |
| Total expenditure | 99,187 | 99,187 | 93,837 | |
| Net (expenditure)/income | 372 | 372 | (3,882) | |
| Other recognised gains and losses | ||||
| Unrealised surplus on revaluation ofinvestment | assets | - | - | 175,000 |
| Netmovement infunds | 372 | 372 | 171,118 | |
| Reconciliation of funds | ||||
| Total funds brought forward | 4,017,058 | 4,017,058 | 3,845,940 | |
| Totalfundscarriedforward | 4,017,430 | 4,017,430 | 4,017,058 |
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The notes on pages6 to 9 form pant of these financial statements.
:
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Spalding Rectory Feoffees
Statement of Financial Position
as at 5th April 2025
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|---|---|---|---|---|---|---|
|en|
|2025|2024|
|Fixed|assets|Note|£|£|£|£|
|Investments|11|3,924|280|3,924,280|
|Current|assets|
|Debtors|12|17,622|14,661|
|Cash|at bank and|in|hand|81,086|78,117|
|98,708|92,778|
|Creditors:|amounts|falling|due|
|within|one year|13|5,558|-|
|Net current assets|93,150|92,778|
|Net assets|4,017,430|4,017,058|
|Funds|of the|charity|
|Unrestricted|funds|4,017,430|4,017,058|
|Total|charity funds|14|4,017,430|4,017,058|
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These financial statements were approved by the board of trustees and authorised for issue on 11% November 2025, and are signed on behalf of the board by:
Melvyn Price Trustee
Adrian Robert Parker Trustee
The notes on pages6 to 9 form part of these financial statements.
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Spalding Rectory Feoffees Notes to the Financial Statements for the year ended 5th April 2025 eee 1. General information
The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is c/o Jane Mawer LLB, Clerk to Spalding Rectory Feoffees, Maples Solicitors LLP, 23 New Road, Spalding, PE11 1DH.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland’, the 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) (Charities SORP (FRS 102)) and the Charities Act 2011.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain fixed assets.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires the trustees to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Incoming resources
All income is included in the statement of financial activities when entitlement has passed to the charity, itis probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Governance costs are those incurred in connection with the administration of the charity and compliance with statutory requirements.
Investment property
The trustees have valued the investment property on an open market value basis.
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Spalding Rectory Feoffees
S$
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Notes to the Financial Statements (continuea)
__for the yearTSE ended 5th Aprileee 2025
8. Staff costs (continued)
The average number of employees during the year was 1 (2024: 1).
9. Governance costs
| 2025 | 2024 | |
|---|---|---|
| Clerking cost Insurance House utility costs Repairs and maintenance Legal and agents fees Recruitment costs Sundry expenses |
£ 5,000 5,088 1,111 44,248 6,197 1,721 708 |
£ 3,500 4,384 2,369 12,798 1,123 - 350 |
| 64,073 | 24,524 |
10. Trustee remuneration and expenses
No remuneration or other benefits from employment with the charity were received by the trustees.
11. Investments
| Investment | |
|---|---|
| properties | |
| Valuation | £ |
| At6th April 2024 Unrealised surplus on revaluation |
3,924,280 - |
| At5th April 2025 | 3,924,280 |
| Carrying amount | |
| At 5th April 2025 | 3,924,280 |
| At5thApril2024 | 3,924,280 |
All investments shown above are held at valuation.
The trustees have valued the investment properties on an open market value basis.
12. Debtors
| 2025 | 2024 | ||||
|---|---|---|---|---|---|
| Prepayments | and | accrued | income | £ 17,622 |
£ 14,661 |
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Spalding Rectory Feoffees
Notes to the Financial Statements (continueg)
——$eefor the year ended 5th April 2025ee e —“‘“CNC*CS
13. Creditors: amounts falling due within one year
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|||||||||
|---|---|---|---|---|---|---|---|
|2025|2024|
|£|£|
|Accruals|and|deferred|income|5,558|-|
|Analysis|of|charitable funds funds|
|Unrestricted|funds|
|At 6|04|24|Income|Expenditure|Revaluation|At504|25|
|General|£|£|£|£|£|
|funds|4,017,058|99,559|(99,187)|-|4,017,430|
|At 6|04|23|Income|Expenditure|Revaluation|At5|0424|
|General|£|£|£|£|£|
|funds|3,845,940|89,955|(93,837)|175,000|4,017,058|
|Analysis|of net|assets|between|funds|
|Unrestricted|Total|Funds|
|Funds|2025|
|Investments|£|£|
|Current|3,924,280|3,924,280|
|assets|98,708|98,708|
|Creditors|less|than|1|year|(5,558)|(5,558)|
|Net assets|4,017,430|4,017,430|
|Unrestricted|Total|Funds|
|Funds|2024|
|£|£|
|Investments|3,924,280|3,924,280|
|Current assets|92,778|92,778|
|Creditors|less|than|1|year|-|-|
|Net assets|4,017,058|4,017,058|
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14. Analysis of charitable funds funds
15. Analysis of net assets between funds
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