THE CHURCH CHARITY Registcr¢d Numbcr 515250 FINANCIAL STATEMENTS FOR THE YEAR ENDED EMBE Independent Examiner: Mr P J N&sh FCA Rawdon l.louse Rawdon Terrace Ashby de la Zouch Leicestershire LE65 2GN
Page I THF. C.HURCH CHARITY Rcgisicred Number 515750 ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 LEGAL AND ADMINISTRATIVE DETAILS Bac round Ob'ectives and Actii'ities The Cliurch Chariiy of St. James. Smisby. has benefited from charitable income since 1794 and sin¢¢ a reorganisation of the charities involved. in 1982, the Parochial Charity (Registered Number 515251) held endowed land which il administered in order to generaie the disposable charitable income half of which flows lo the benefil of the Church Charity. The Scheme of Arrdnbyement for lh¢ Church Charity states that"The Trwiees ofihe Church Charioi shall upplj, Ihe income ihereof in muiniaining.gi. jam Church, .gmisby, ils churchyard and churLhyardgales, and in oihenvise mainluining ihe services ihereal" The Tru51ces review thc Charity's aim5, objeciive5 and activities each year. 'l-his review looks ai what has been achieved during the year, ensuring Ihai the aims. objectives and activities remain focus¢d on the ChIty'S principal purpu5e. In carrying ou( these reviews and in all their dutie5. the Trustees have paid lull regard io the public benefit guidance issu¢d by Ihe Charity Commission. Future income from lh¢ Parhla] Chariiy is dirficult io predici &$ li is dependent on a number of factors nol direcily under Ihe control of the Charity. but thal received will be splii equally between itself and the Church Charity. after Ihe deduction of any operaling costs. isl¢r d 515250 ri Number Princi l addr¢s$ St Jam¢s' Church Main Street Smi5by Ashby de la Zouch Leicesiershire LE65 2TY Tru$tees The Vilar and Churchwardens of the Parish of St James,, Smisby. for the time being and by virtue of their respeclive offices are ihe Trustees of ihe Charity. During the year. the Trustees comprised: Rcv Stcve Short Mr G Margerrison Vacancy Ivicar) (Re5ign¢d from pog125 February 2024) Ichurch warden) (Church warden) Bank CAF Bank Limited ?5 King5 Hill Avenue Kings Hill. West Malling Kent ME19 4JQ Inde Ddent Examiner Mr P J Nash FCA Rawdon House Rawdon Terrace Ashb de la Zouch Lejcestershire LE65 2GN
Page 2 THE CHURCH CHARITY Registered Number 515250 ANNUAL REPORT FOR THE YEAR ENDF.D 31 DECEMBER 2024 (cunlinued) Review of the Year The income received by the Church Charity from the Parochial Charity is largely dcpendeni on three factors - base rdte, equity yields and agricultural rents since ihe Parochial Charity's funds are invested in both land and equities as well as some elements on deposit. The Church Charity trustees are 'the in¢umbenl and the churchwardens of St James,; Rev S Short was a tnist¢¢ until leaving io take up a p051 in another bencfic¢ on 25th February and Mr G Margerrison was th¢ vnly Lhurrhw41rden during th¢ y¢ar. the oiher churchwarden post remaining vacant. All funds received from the Parochial Charity inio the Church Charity are recetved inlo a dedicated CafGold bank account on which the Church Charity also earns inlerest. In 2024. the Trustees of ihe Church Charity agreed to a request from the PCC for a grani of£20.000 io complete repair works arising Irom the 2019 Quinquennial Inspection. During ihe 2024 accounting period. the Church Charity's net funds increased by £14.133. and the balance is to be carried forward for future work in line with the Church Charity reserves policy below. Th¢ PCC has a number of liabiliti¢s arising from the mosl recent Quinquennial Inspection ReFK)rt, based on an inspection in November 2024. 11 is expected ihai. to allow the PCC to undenake the work identified in this report, turther grants from Ihe Church Charity will be required. Each application will be considered on meril bul. as the Trusiees of this Charity are also members of the PCC. they are aware of the planning of future proj¢cts by ihe PCC. The Church Charity reserves policy is to have r¢s¢rv¢s available to cover the possibility of a shortfall in insurance where cover is unavailabl¢; bad on current policy Cover this would require a grani of ai le&st £50.000 to be made which dictsies the minimum reserve figure. In addilion such qualifying work5 tdentified in Ihe rclevant Quinquennial Inspection are lo be assumed 10 require gwant support to the PCC and the Church Charity will continue lo build reserves in anlicipalion of providing 5uppon for meeting ih¢s¢ Costs. Slgned: rgerr Date: 11
Page 3 INDEPEliDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE CHIIRCH CHARITY I repon io the Charity trusitts on my examination of the accounts of the Charity for the year ended 31 tkcember 2024. which a set oul on pages 4 to 5. RESPONSIBILITIES AND BASIS OF REPORT As the Charity's trustees you are responsible for the preparalion of the accounts in accordance wilh Ihe requirements of the Chariiies Act 2011 I'ihe Acl'l. I report in respect of my examination of th¢ Charity's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Dire¢lions given by lh¢ Charity Cornmission under seclion 14515 Mb) of Ihe Aci. IYDEPENDENT EXAMINF.R'S STATEMENT I have cOmpled my examination. I confim Ihat no maierial matter5 have come to my allention in connection with the examination giving me use io believe ihai in any merial respect: accounting records w¢re nol kcpl in rcspeth of Ihe Charity as required by section 130 of Ihe Acl: or 2. Ihe acLounls' do noi accord with Ihose records I have no concerns and have come across no oiher matters in Lonneclion with ihe examination lo which Aneniion should bc drnwn in this report in order lo enable a proper understsndiny ofthe accounls Iv be reh¢d, Dale: P J N15h FC'.A RAwdon House Raivdon TerrA¢e .4$hhv de la TuCh Ltlccsler5hlr¢ LE6$ 2GY
Page 4 'HE C'III:RC'II C-IIARI'r) Regisiered Number 515250 RLCEiwfs ..i.ID P,II'IIENT5,IC'C'Oli)T FOR THE I"EAR F.NDTr:D 31 DTr-C'Tr"ITr.R 2024 2024 R¢slricled 023 LslriclL REC'.EiYrs lTreomin Rcsuurccs frvm Dvnors PuruL,hiul Lhdrii). l.¥ee noies oiipys l & 2) s/¢ sharc ofnL'I inLomc 16.106 16.106 ome frnm invejtmenl Cul. Ilunk INILrc%i 2.620 2,312 34,193 18.418 (irani to Smisb). PCC Elank Char8e5 120.11)01 1601 140,IMM)) 14.133 121.642) Ilank lJulanLe in hsmd Mt l Jmnullry 2024 104,194 125.¥36 14ank Ilulon¢c in hond a¢ 31 tk¢¢mlw 2024 I IllJ27
Pagc 5 THE CHURCH CHARITY RLgislcred Numbrr 515250 ATEMENT OF ASSETS AND LIABILITIES AT 31 DECEMBER 2024 2024 2023 Monet4 Assets: CaaSh Accounl CAF Gold Accounl 113J27 99.194 118J27 104.194 Notes: Please fer io the Chariiy's Annu31 Rew>rt and Review of the Year on pll8es l & 2. Sl8ned: £erri Date: