Friends of St Mary the Virgin Hayes (Also known as) Friends of St Mary’s Church Association Charity Number 1028574
End of Year Financial Statements
Year ending 31[st] December 2020
Friends of St Mary’s Association Trustees Report Year Ended 31[st] December 2020
The Trustees present their annual report for the year ended 31[st] December 2020
Constitution
Friends of St Mary the Virgin, Hayes, whose working name is ‘Friends of St Mary’s Church Association’, is governed by a constitution adopted on 14[th] October 1993 which was amended on 9[th] November 2011 and registered as a charity on 8[th] December 1993.
Objectives and activities
The objects of the charity are to advance the Christian religion through the maintenance, preservation, repair, restoration and improvement of the fabric, fittings, and furniture of the parish church of St Mary the Virgin, Hayes, Middlesex, The church was classified as Grade 2* Listed building on 1[st] November 2011.
Sources of funds
Funds are received from donations and legacies from time to time. Income is also received from the investments held under the St James Place Unit Trust Portfolio.
Financial position
At the end of the financial year the Friends held funds in cash totalling £25,773 and an investment portfolio valued at £368,365 at year end.
Investment policy
The Friends have invested the funds held in the most appropriate, ethical, minimal risk, but beneficial way with St James Place.
Structure, governance and management
The trustees who held office during the year are: Fr Nicholas Wheeler (Chair) Mr Sean Kennedy (Secretary) - resigned in May 2020 Mrs Sandrajane Stock (Treasurer) Ms Carol Jobson Mr Alan Lambert Mrs Janette Lawrence Mrs Margaret Littlefield
Relationship with parish church
The Friends have been able to help the parish church by continuing to fund some maintenance costs and the Gas and Electricity costs as these help to maintain the fabric of the building
Principal address and contact details
Fr Nicholas Wheeler 170 Church Road Hayes
Page 2
Friends of St Mary’s Association Trustees Report Year Ended 31[st] December 2020
Middlesex UB3 2LR
Receipts and Payments Account
| Unrestricted RestrictedEndowment Total Prior year funds funds funds fundstotal funds |
Unrestricted RestrictedEndowment Total Prior year funds funds funds fundstotal funds |
|---|---|
| Receipts | |
| Planned giving | — — — — £50 |
| Other voluntary receipts | £12,899 — — £12,899 £90 |
| Other receipts | £28,865 — — £28,865 — |
| Investment Income | £2,842 — — £2,842 £3,776 |
| Total receipts | £44,606 — — £44,606 £3,916 |
| Payments | |
| Cost of generating funds | £10,500 — — £10,500 — |
| Missionary and Charitable Giving | £16,000 — — £16,000 — |
| Church Running Expenses | £2,996 — — £2,996 £3,234 |
| Church Repairs & Maintenance | £22,700 — — £22,700 — |
| Governance Costs | £27 — — £27 — |
| Total payments | £52,224 — — £52,224 £3,234 |
| Excess of receipts over payments before transfer |
(£7,617) — — (£7,617) £682 |
| Transfers | |
| Excess of receipts over payments before other gains / losses |
(£7,617) — — (£7,617) £682 |
| Net movement in funds | (£7,617) — — (£7,617) £682 |
| Excess of receipts over payments at beginning of year |
£401,756 — — £401,756 £401,073 |
| Excess of receipts over payments for the year |
£394,138 — — £394,138 £401,756 |
| Represented by | |
| Unrestricted | |
| General fund | £365,273 — — £365,273 £401,756 |
| Designated | |
| St James Place Unit Trust | £28,865 — — £28,865 — |
Page 3
Friends of St Mary’s Association Trustees Report Year Ended 31[st] December 2020
Balance sheet
| Class and code Description |
This year Last year |
|---|---|
| Current assets | |
| 6501 Friends current account |
£14,511 £4,532 |
| 6505 Friends deposit account |
£11,262 £397,223 |
| 6511 St James Place Unit Trust |
£368,365 — |
| Total Current assets | £394,138 £401,756 |
| Reserves | |
| Excess / (defcit) to date | (£7,617) £384,890 |
| Z01 Starting balances |
£401,756 £16,865 |
| Total Reserves | £394,138 £401,756 |
| Represented by funds | |
| Unrestricted | £365,273 £401,756 |
| Designated | £28,865 — |
| Restricted | — — |
| Endowment | — — |
| Total | £394,138 £401,756 |
Statement of assets and liabilities
GeneralDesignatedRestrictedEndowmentThis year Last
| GeneralDesignatedRestrictedEndowmentThis year Last |
|
|---|---|
| year | |
| Current assets - Cash at bank and in hand |
|
| Friends current account - | £354,011 — (£339,500) — £14,511 £4,532 |
| Friends deposit account - | £11,262 — — — £11,262 £397,223 |
| Totals | £365,273 — (£339,500 ) — £25,773 £401,756 |
| Current assets - Investments | |
| St James Place Unit Trust - | — £28,865 £339,500 — £368,365 — |
| Totals | — £28,865 £339,500 — £368,365 — |
Page 4
Friends of St Mary’s Association Trustees Report Year Ended 31[st] December 2020
Grand total £365,273 £28,865 — — £394,138 £401,756
Fund movement by type
Opening Incoming Outgoing TransfersGains/losses Closing
| Investment - St James Place Unit | ||||||
|---|---|---|---|---|---|---|
| Designated | — | £28,865 | — | — | — | £28,865 |
| Sub-total for Investment | — | £28,865 | — | — | — | £28,865 |
| General - General fund | ||||||
| Unrestricted | £401,756 | £15,741 | £52,224 | — | — | £365,273 |
| Sub-total for General | £401,756 | £15,741 | £52,224 | — | — | £365,273 |
| Grand total | £401,756 | £44,606 | £52,224 | — | — | £394,138 |
Analysis of receipts and payments
| Total Unrestricted Designated Restricted Endowment This year Last year INCOME AND ENDOWMENTS Planned giving 0201 - Other planned giving — — — — — £50 Total — — — — — £50 Other voluntary receipts 0550 - Donations appeals etc — — — — — £90 08A1 - Non-recurring one-of grants £12,899 — — — £12,899 — Total £12,899 — — — £12,899 £90 Other receipts 0901 - Other funds generated — £28,865 — — £28,865 — Total — £28,865 — — £28,865 — Investment Income 1001 - Dividends £2,803 — — — £2,803 £3,578 1020 - Bank and building society interest £38 — — — £38 £198 |
Total Unrestricted Designated Restricted Endowment This year Last year INCOME AND ENDOWMENTS Planned giving 0201 - Other planned giving — — — — — £50 Total — — — — — £50 Other voluntary receipts 0550 - Donations appeals etc — — — — — £90 08A1 - Non-recurring one-of grants £12,899 — — — £12,899 — Total £12,899 — — — £12,899 £90 Other receipts 0901 - Other funds generated — £28,865 — — £28,865 — Total — £28,865 — — £28,865 — Investment Income 1001 - Dividends £2,803 — — — £2,803 £3,578 1020 - Bank and building society interest £38 — — — £38 £198 |
|---|---|
| — — — — — £50 |
|
| — — — — — £50 — — — — — £90 |
|
| £12,899 — — — £12,899 — |
|
| £12,899 — — — £12,899 £90 |
|
| — £28,865 — — £28,865 — |
|
| — £28,865 — — £28,865 — £2,803 — — — £2,803 £3,578 |
|
| £38 — — — £38 £198 |
|
| Total | £2,842 — — — £2,842 £3,776 |
| INCOME TOTAL | £15,741 £28,865 — — £44,606 £3,916 |
Page 5
Friends of St Mary’s Association Trustees Report Year Ended 31[st] December 2020
EXPENDITURE
| Cost of generating funds 1740 - Investment management costs £10,500 — — — £10,500 — Total £10,500 — — — £10,500 — Missionary and Charitable Giving 1802 - Donation to Church £16,000 — — — £16,000 — Total £16,000 — — — £16,000 — Church Running Expenses 2401 - Church running - electric £1,280 — — — £1,280 £772 2410 - Church running - gas £1,715 — — — £1,715 £2,461 Total £2,996 — — — £2,996 £3,234 Church Repairs & Maintenance 2710 - Church major repairs - installation £22,700 — — — £22,700 — Total £22,700 — — — £22,700 — Governance Costs 2601 - Governance costs examination/audit fee £27 — — — £27 — |
|
|---|---|
| £10,500 — — — £10,500 — |
|
| £22,700 — — — £22,700 — |
|
| £22,700 — — — £22,700 — |
|
| £27 — — — £27 — |
|
| Total | £27 — — — £27 — |
| EXPENDITURE TOTAL | £52,224 — — — £52,224 £3,234 |
| GRAND TOTAL | (£36,483) £28,865 — — (£7,617) £682 |
Conclusion
The Friends has received a small amount of income in 2020 including that derived from interest on the deposit account. The majority of the income has derived from the St James Place Unit Trust portfolio. The other funds generated relates to the growth in value of the St James Place Unit Trust portfolio so it is currently virtual rather than actual income. The trustees are committed to continuing to seek advice regarding the most appropriate, ethical, minimal risk, but beneficial way of investing the funds already held, but also to discover methods of raising new funds. The trustees have also been actively seeking new members.
The trustees are pleased to continue supporting the parish church as set out in the constitution.
This report dated: 18[th] January, 2021
Page 6
Friends of St Mary’s Association Trustees Report Year Ended 31[st] December 2020
Signed:
(Treasurer)
Financial Report Accepted by Trustees on:
Page 7
Friends of St Mary the Virgin Hayes (Also known as) Friends of St Mary’s Church Association Charity Number 1028574
End of Year Financial Statements
Year ending 31[st] December 2020
Friends of St Mary’s Association Trustees Report Year Ended 31[st] December 2020
The Trustees present their annual report for the year ended 31[st] December 2020
Constitution
Friends of St Mary the Virgin, Hayes, whose working name is ‘Friends of St Mary’s Church Association’, is governed by a constitution adopted on 14[th] October 1993 which was amended on 9[th] November 2011 and registered as a charity on 8[th] December 1993.
Objectives and activities
The objects of the charity are to advance the Christian religion through the maintenance, preservation, repair, restoration and improvement of the fabric, fittings, and furniture of the parish church of St Mary the Virgin, Hayes, Middlesex, The church was classified as Grade 2* Listed building on 1[st] November 2011.
Sources of funds
Funds are received from donations and legacies from time to time. Income is also received from the investments held under the St James Place Unit Trust Portfolio.
Financial position
At the end of the financial year the Friends held funds in cash totalling £25,773 and an investment portfolio valued at £368,365 at year end.
Investment policy
The Friends have invested the funds held in the most appropriate, ethical, minimal risk, but beneficial way with St James Place.
Structure, governance and management
The trustees who held office during the year are: Fr Nicholas Wheeler (Chair) Mr Sean Kennedy (Secretary) - resigned in May 2020 Mrs Sandrajane Stock (Treasurer) Ms Carol Jobson Mr Alan Lambert Mrs Janette Lawrence Mrs Margaret Littlefield
Relationship with parish church
The Friends have been able to help the parish church by continuing to fund some maintenance costs and the Gas and Electricity costs as these help to maintain the fabric of the building
Principal address and contact details
Fr Nicholas Wheeler 170 Church Road Hayes
Page 2
Friends of St Mary’s Association Trustees Report Year Ended 31[st] December 2020
Middlesex UB3 2LR
Receipts and Payments Account
| Unrestricted RestrictedEndowment Total Prior year funds funds funds fundstotal funds |
Unrestricted RestrictedEndowment Total Prior year funds funds funds fundstotal funds |
|---|---|
| Receipts | |
| Planned giving | — — — — £50 |
| Other voluntary receipts | £12,899 — — £12,899 £90 |
| Other receipts | £28,865 — — £28,865 — |
| Investment Income | £2,842 — — £2,842 £3,776 |
| Total receipts | £44,606 — — £44,606 £3,916 |
| Payments | |
| Cost of generating funds | £10,500 — — £10,500 — |
| Missionary and Charitable Giving | £16,000 — — £16,000 — |
| Church Running Expenses | £2,996 — — £2,996 £3,234 |
| Church Repairs & Maintenance | £22,700 — — £22,700 — |
| Governance Costs | £27 — — £27 — |
| Total payments | £52,224 — — £52,224 £3,234 |
| Excess of receipts over payments before transfer |
(£7,617) — — (£7,617) £682 |
| Transfers | |
| Excess of receipts over payments before other gains / losses |
(£7,617) — — (£7,617) £682 |
| Net movement in funds | (£7,617) — — (£7,617) £682 |
| Excess of receipts over payments at beginning of year |
£401,756 — — £401,756 £401,073 |
| Excess of receipts over payments for the year |
£394,138 — — £394,138 £401,756 |
| Represented by | |
| Unrestricted | |
| General fund | £365,273 — — £365,273 £401,756 |
| Designated | |
| St James Place Unit Trust | £28,865 — — £28,865 — |
Page 3
Friends of St Mary’s Association Trustees Report Year Ended 31[st] December 2020
Balance sheet
| Class and code Description |
This year Last year |
|---|---|
| Current assets | |
| 6501 Friends current account |
£14,511 £4,532 |
| 6505 Friends deposit account |
£11,262 £397,223 |
| 6511 St James Place Unit Trust |
£368,365 — |
| Total Current assets | £394,138 £401,756 |
| Reserves | |
| Excess / (defcit) to date | (£7,617) £384,890 |
| Z01 Starting balances |
£401,756 £16,865 |
| Total Reserves | £394,138 £401,756 |
| Represented by funds | |
| Unrestricted | £365,273 £401,756 |
| Designated | £28,865 — |
| Restricted | — — |
| Endowment | — — |
| Total | £394,138 £401,756 |
Statement of assets and liabilities
GeneralDesignatedRestrictedEndowmentThis year Last
| GeneralDesignatedRestrictedEndowmentThis year Last |
|
|---|---|
| year | |
| Current assets - Cash at bank and in hand |
|
| Friends current account - | £354,011 — (£339,500) — £14,511 £4,532 |
| Friends deposit account - | £11,262 — — — £11,262 £397,223 |
| Totals | £365,273 — (£339,500 ) — £25,773 £401,756 |
| Current assets - Investments | |
| St James Place Unit Trust - | — £28,865 £339,500 — £368,365 — |
| Totals | — £28,865 £339,500 — £368,365 — |
Page 4
Friends of St Mary’s Association Trustees Report Year Ended 31[st] December 2020
Grand total £365,273 £28,865 — — £394,138 £401,756
Fund movement by type
Opening Incoming Outgoing TransfersGains/losses Closing
| Investment - St James Place Unit | ||||||
|---|---|---|---|---|---|---|
| Designated | — | £28,865 | — | — | — | £28,865 |
| Sub-total for Investment | — | £28,865 | — | — | — | £28,865 |
| General - General fund | ||||||
| Unrestricted | £401,756 | £15,741 | £52,224 | — | — | £365,273 |
| Sub-total for General | £401,756 | £15,741 | £52,224 | — | — | £365,273 |
| Grand total | £401,756 | £44,606 | £52,224 | — | — | £394,138 |
Analysis of receipts and payments
| Total Unrestricted Designated Restricted Endowment This year Last year INCOME AND ENDOWMENTS Planned giving 0201 - Other planned giving — — — — — £50 Total — — — — — £50 Other voluntary receipts 0550 - Donations appeals etc — — — — — £90 08A1 - Non-recurring one-of grants £12,899 — — — £12,899 — Total £12,899 — — — £12,899 £90 Other receipts 0901 - Other funds generated — £28,865 — — £28,865 — Total — £28,865 — — £28,865 — Investment Income 1001 - Dividends £2,803 — — — £2,803 £3,578 1020 - Bank and building society interest £38 — — — £38 £198 |
Total Unrestricted Designated Restricted Endowment This year Last year INCOME AND ENDOWMENTS Planned giving 0201 - Other planned giving — — — — — £50 Total — — — — — £50 Other voluntary receipts 0550 - Donations appeals etc — — — — — £90 08A1 - Non-recurring one-of grants £12,899 — — — £12,899 — Total £12,899 — — — £12,899 £90 Other receipts 0901 - Other funds generated — £28,865 — — £28,865 — Total — £28,865 — — £28,865 — Investment Income 1001 - Dividends £2,803 — — — £2,803 £3,578 1020 - Bank and building society interest £38 — — — £38 £198 |
|---|---|
| — — — — — £50 |
|
| — — — — — £50 — — — — — £90 |
|
| £12,899 — — — £12,899 — |
|
| £12,899 — — — £12,899 £90 |
|
| — £28,865 — — £28,865 — |
|
| — £28,865 — — £28,865 — £2,803 — — — £2,803 £3,578 |
|
| £38 — — — £38 £198 |
|
| Total | £2,842 — — — £2,842 £3,776 |
| INCOME TOTAL | £15,741 £28,865 — — £44,606 £3,916 |
Page 5
Friends of St Mary’s Association Trustees Report Year Ended 31[st] December 2020
EXPENDITURE
| Cost of generating funds 1740 - Investment management costs £10,500 — — — £10,500 — Total £10,500 — — — £10,500 — Missionary and Charitable Giving 1802 - Donation to Church £16,000 — — — £16,000 — Total £16,000 — — — £16,000 — Church Running Expenses 2401 - Church running - electric £1,280 — — — £1,280 £772 2410 - Church running - gas £1,715 — — — £1,715 £2,461 Total £2,996 — — — £2,996 £3,234 Church Repairs & Maintenance 2710 - Church major repairs - installation £22,700 — — — £22,700 — Total £22,700 — — — £22,700 — Governance Costs 2601 - Governance costs examination/audit fee £27 — — — £27 — |
|
|---|---|
| £10,500 — — — £10,500 — |
|
| £22,700 — — — £22,700 — |
|
| £22,700 — — — £22,700 — |
|
| £27 — — — £27 — |
|
| Total | £27 — — — £27 — |
| EXPENDITURE TOTAL | £52,224 — — — £52,224 £3,234 |
| GRAND TOTAL | (£36,483) £28,865 — — (£7,617) £682 |
Conclusion
The Friends has received a small amount of income in 2020 including that derived from interest on the deposit account. The majority of the income has derived from the St James Place Unit Trust portfolio. The other funds generated relates to the growth in value of the St James Place Unit Trust portfolio so it is currently virtual rather than actual income. The trustees are committed to continuing to seek advice regarding the most appropriate, ethical, minimal risk, but beneficial way of investing the funds already held, but also to discover methods of raising new funds. The trustees have also been actively seeking new members.
The trustees are pleased to continue supporting the parish church as set out in the constitution.
This report dated: 18[th] January, 2021
Page 6
Friends of St Mary’s Association Trustees Report Year Ended 31[st] December 2020
Signed:
(Treasurer)
Financial Report Accepted by Trustees on:
Page 7
IndepEndeTrt Examiner's Report to the MeMberfSt$ of the TrTiend• ofst MAry'J Ch¥r¢h A&qotIatio Hyts- Chrity N& 11)2&fj74 l ontk for th¢ytscrthd 31° Dettmlv202Outhith 5elout Fintincioj Stsfrffj¢nL Resp¢ttJve mp)DJibUldu ofthe Ttrtysteu lDdopendent Euler As InL%t¢¢s of th¢ ¢hity, the Tn of The Pri¢th of St. Mary'5 Chwth As%>Cl]0[U Hayes e resp)rn%ibJe for Ihc pr¢rthtion af Ik acco8. Thcy cotLSi(krthrf an audil is rrf)I rryuired foT this ytar un(kr 5wiion 144(2)oC& chwill Ad 20111thtt 2011 A¢t) wjd iNkFth ¢xaminRtLoll i5 ethd. It is my resrrtwibility to • lua]ni the llccounts uJths¢¢tx)n 145 of tk 2011 AeL • Fulknw thc pnKedur¢s laid (k)wn in the CJuKrn] ithrry¢iC 8iv¢n ty th¢Charity CommilOnC[S s¢¢lion 14515Xb) 2011 A¢. • Sw¢ wh¢therT•rtivJltr mhtt¢TS hNv¢ LXMllC kn my allWUithL Bajk ofind¢pend¢nt F.xam1r.I StAtth¢nt My ¢xominalion way caryi¢d otsi in atc(wdthKc with (rn¢rnt dir¢thiorva8iveth by th¢ Chotity CoJllmi.¥siun. An¢x&minwion incl a r¢vi¢w ofthe a118 reeo¥ds kept ty charkty 4 )MprI%1rt of ihc attourtts we3ellt¢d with ThY>rd8. 11 thlyA) in¢lth conyi&7ation Dfany unuyuul il¢m¥ ordi$¢losure$ in Ik wjd s¢ekir¥ ¢xplOnthtity from Ihe mpjwmcnl 4Y)mmill¢¢ eonc¢rnin8 atty Yuch m1¢ IIK uThkrtJkn &) pmvi(k' ull i ¢vt(l¢n¢¢ thai woul¢J bc quirty1 in a full aliL l &) &Lxlil opin on Ihe Ind•pendtJi¢ Lxwlntr'5 %1atem¢n¢ In conn¢Llion with my ¢X4miWIo tomc to my leMM l. Whi¢h Bive mc rrwnobjc t(> in any mrd¢rial re4cts Iht r¢quI • 'Jo ke¢p fciTrunlin8 T¢Q)rd4 in t0[a¢ wilh 2011 Ad: or mei- or 2. Ti) whiclL i# myopirtioTh ollenliim sIld k ¢Jmtrm in or&rtoawb]e 4 ufih¢ lMMIS lo Slgned: /. o/- aoa/ Dtttn¢ Sh 78T¢rer¢ Aven Pix>k B1117 9ts