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 2022
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Friends of St Mary’s Association
Trustees Report
Year Ended 31[st] December 2022
The trustees present their annual report for the year ended on 31[st] December 2022
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 the 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 objectives 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 a 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 Portfolio
At the end of the financial year the Friends held funds in cash totalling £21141, and an investment portfolio valued at £379, 765.
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; Father Nicholas Wheeler Mrs Sandrajane Stock (until September 2022) Mr Alan Lambert Mrs Janette Lawrence
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 Middlesex UB3 2LR
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Receipts and Payments Account
| UnrestrictedRestrictedEndowment Total Prior year funds funds funds funds total funds |
UnrestrictedRestrictedEndowment Total Prior year funds funds funds funds total funds |
|---|---|
| Receipts Planned giving Collections and other giving Other voluntary receipts Gift Aid recovered Other receipts Activities for generating funds Investment Income Receipts from church activities Total receipts Payments Cost of generating funds Missionary and Charitable Giving Parish Share Clergy and Staffing costs Church Running Expenses Hall Running Costs Church Repairs & Maintenance Hall Repairs & Maintenance New Building work Governance Costs Total payments Excess of receipts over payments before transfer Transfers Gross transfers between funds - in Gross transfers between funds - out Excess of receipts over payments before other gains / losses Net movement in funds Excess of receipts over payments at beginning of year Excess of receipts over payments for the year Represented by Unrestricted General fund Designated St James Place Unit Trust Restricted St James Place Unit Trust |
— — — — — — — — — — 160 — — 160 34,615 — — — — — 59,291 — — 59,291 4,288 — — — — — 3,858 — — 3,858 1 — — — — — |
| 63,309 — — 63,309 38,905 44,670 — — 44,670 — — — — — — — — — — — — — — — — 20,141 — — 20,141 2,774 — — — — — 19,882 — — 19,882 15,401 — — — — — — — — — — 38 — — 38 23 |
|
| 84,732 — — 84,732 18,200 |
|
| (21,422) — — (21,422) 20,704 — — — — — — — — — — |
|
| (21,422) — — (21,422) 20,704 |
|
| (21,422) — — (21,422) 20,704 |
|
| 75,789 339,500 — 415,289 394,584 |
|
| 54,367 339,500 — 393,867 415,289 (23,228) — — (23,228) 46,924 77,595 — — 77,595 28,865 — 339,500 — 339,500 339,500 |
Balance sheet
| Total funds Prior year funds |
Total funds Prior year funds |
|---|---|
| Current assets Investments Cash at bank and in hand |
372,425 368,365 21,441 46,924 |
| 393,867 415,289 |
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| Net current assets less current liabilities Total net assets less liabilities Represented by Unrestricted General fund Designated St James Place Unit Trust Restricted St James Place Unit Trust Funds of the church |
393,867 415,289 |
|---|---|
| 393,867 415,289 (23,228) 46,924 77,595 28,865 339,500 339,500 |
|
| 393,867 415,289 |
Statement of assets and liabilities
| General DesignatedRestrictedEndowmentThis year Last year |
|
|---|---|
| Current assets - Cash at bank and in hand Friends current account - Friends deposit account - Totals Current assets - Investments St James Place Unit Trust - Totals Grand total |
11,170 339,500 (339,500) — 11,170 11,660 10,271 — — — 10,271 35,263 |
| 21,441 339,500 (339,500) — 21,441 46,924 (44,670) (261,904) 679,000 — 372,425 368,365 |
|
| (44,670) (261,904) 679,000 — 372,425 368,365 |
|
| (23,228) 77,595 339,500 — 393,867 415,289 |
Fund movement by type
| Opening IncomingOutgoingTransfers Gains/losses Closing |
|
|---|---|
| Investment - St James Place Unit Designated Restricted Sub-total for Investment General - General fund Unrestricted Sub-total for General Grand total |
28,865 48,730 — — — 77,595 339,500 — — — — 339,500 |
| 368,365 48,730 — — — 417,095 46,924 14,579 84,732 — — (23,228) |
|
| 46,924 14,579 84,732 — — (23,228) |
|
| 415,289 63,309 84,732 — — 393,867 |
Analysis of receipts and payments
| Total | |||||||
|---|---|---|---|---|---|---|---|
| Unrestricted | Designated | Restricted | Endowment | This year | Last year | ||
| INCOME AND ENDOWMENTS | |||||||
| Planned giving | |||||||
| 0101 - Gift Aid - Bank | — | — | — | — | — | — | |
| 0110 - Gift Aid - Envelopes | — | — | — | — | — | — | |
| 0201 - Other planned giving | — | — | — | — | — | — | |
| Total | — | — | — | — | — | — |
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| Collections and other giving 0301 - Loose plate collections 0401 - Regular gift days 0501 - One-off Gift Aid gifts Total Other voluntary receipts 0410 - Giving through church boxes 0510 - Gifts of quoted securities 0550 - Donations appeals etc 0701 - Legacies 0801 - Recurring grants 08A1 - Non-recurring one-off grants Total Gift Aid recovered 0601 - Tax recoverable on Gift Aid Total Other receipts 0901 - Other funds generated 1310 - Insurance claims 1320 - Surplus - sales of fixed assets Total Activities for generating funds 0910 - Rummage sales etc 1220 - Bookstall sales - fund raising 1240 - Church hall lettings - fund raising 1250 - Magazine income - advertising 1260 - Parish magazine sales Total Investment Income 1001 - Dividends 1020 - Bank and building society interest 1030 - Rent from lands or buildings Total Receipts from church activities 1101 - Fees for weddings and funerals 1210 - Bookstall sales to promote objectives 1230 - Church hall lettings - objectives Total |
— — — — — — — — — — — — — — — — — — |
|---|---|
| — — — — — — — — — — — — — — — — — — 160 — — — 160 70 — — — — — 34,545 — — — — — — — — — — — — |
|
| 160 — — — 160 34,615 — — — — — — |
|
| — — — — — — 10,561 48,730 — — 59,291 4,288 — — — — — — — — — — — — |
|
| 10,561 48,730 — — 59,291 4,288 — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — |
|
| — — — — — — 3,851 — — — 3,851 — 7 — — — 7 1 — — — — — — |
|
| 3,858 — — — 3,858 1 — — — — — — — — — — — — — — — — — — |
|
| — — — — — — |
|
| INCOME TOTAL | 14,579 48,730 — — 63,309 38,905 |
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EXPENDITURE
Cost of generating funds
| Cost of generating funds | ||||||
|---|---|---|---|---|---|---|
| 1701 - Fees paid to fund raisers | — | — | — | — | — | — |
| 1710 - Costs of applying for grants | — | — | — | — | — | — |
| 1720 - Costs of stewardship | — | — | — | — | — | — |
| campaign | ||||||
| 1730 - Costs of fetes & other events | — | — | — | — | — | — |
| 1740 - Investment management costs | 44,670 | — | — | — | 44,670 | — |
| 2510 - Bookstall costs | — | — | — | — | — | — |
| Total | 44,670 | — | — | — | 44,670 | — |
| Missionary and Charitable Giving | ||||||
| 1801 - Giving to missionary societies | — | — | — | — | — | — |
| 1802 - Donation to Church | — | — | — | — | — | — |
| 1830 - Giving - relief and | — | — | — | — | — | — |
| development agencies | ||||||
| 1850 - Home mission | — | — | — | — | — | — |
| 1870 - Secular charities | — | — | — | — | — | — |
| Total | — | — | — | — | — | — |
| Parish Share | ||||||
| 1901 - Stipends quota | — | — | — | — | — | — |
| 1910 - Ministry parish share etc | — | — | — | — | — | — |
| Total | — | — | — | — | — | — |
| Clergy and Staffing costs | ||||||
| 2001 - Assistant staff costs | — | — | — | — | — | — |
| 2050 - Salary of parish administrator | — | — | — | — | — | — |
| 2101 - Working expenses of | — | — | — | — | — | — |
| incumbent | ||||||
| 2120 - Council tax | — | — | — | — | — | — |
| 2130 - Parsonage house expenses | — | — | — | — | — | — |
| 2140 - Water rates - vicarage | — | — | — | — | — | — |
| p2145 - Parsonage - water | — | — | — | — | — | — |
| 2150 - Vicar's telephone | — | — | — | — | — | — |
| 2370 - Visiting speakers / locums | — | — | — | — | — | — |
| Total | — | — | — | — | — | — |
| Church Running Expenses | ||||||
| 2170 - Education | — | — | — | — | — | — |
| 2201 - Parish training and mission | — | — | — | — | — | — |
| 2301 - Church running - insurance | — | — | — | — | — | — |
| 2310 - Church office - telephone | — | — | — | — | — | — |
| 2320 - Organ / piano tuning | — | — | — | — | — | — |
| 2330 - Church maintenance | 1,980 | — | — | — | 1,980 | — |
| 2331 - Cleaning | — | — | — | — | — | — |
| 2340 - Upkeep of services | — | — | — | — | — | — |
| 2350 - Upkeep of churchyard | — | — | — | — | — | — |
| 2360 - Administration | 15,000 | — | — | — | 15,000 | — |
| 2401 - Church running - electric | 1,807 | — | — | — | 1,807 | 1,128 |
| 2410 - Church running - gas | 1,354 | — | — | — | 1,354 | 1,646 |
| 2420 - Church running - water | — | — | — | — | — | — |
| 2430 - Church running - oil | — | — | — | — | — | — |
| 2440 - Church running - heating and | — | — | — | — | — | — |
| lighting | ||||||
| 2501 - Magazine expenses | — | — | — | — | — | — |
| Total | 20,141 | — | — | — | 20,141 | 2,774 |
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| Hall Running Costs 2520 - Hall running - oil 2530 - Hall running - electricity 2540 - Hall running - gas 2550 - Hall running - insurance 2560 - Hall running - maintenance 2570 - Hall running - telephone 2580 - Hall running - water 2590 - Hall running - heating and lighting Total Church Repairs & Maintenance 2701 - Church major repairs - structure 2710 - Church major repairs - installation 2720 - Church interior and exterior decorating Total Hall Repairs & Maintenance 2801 - Hall + major repairs - structure 2820 - Hall + major repairs - installation 2830 - Hall + interior and exterior decorating 2840 - Other PCC property upkeep Total New Building work 2901 - New building parsonage house 2910 - New building house for curate 2920 - New building Church 2930 - New building Hall Total Governance Costs 2601 - Governance costs examination/audit fee Total |
— — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — |
|---|---|
| — — — — — — — — — — — — 19,882 — — — 19,882 15,401 — — — — — — |
|
| 19,882 — — — 19,882 15,401 — — — — — — — — — — — — — — — — — — — — — — — — |
|
| — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — |
|
| — — — — — — 38 — — — 38 23 |
|
| 38 — — — 38 23 |
|
| EXPENDITURE TOTAL | 84,732 — — — 84,732 18,200 |
| GRAND TOTAL | (70,152) 48,730 — — (21,422) 20,704 |
Conclusion
The Friends trustees have decreased in numbers this year due to two having relocated and one has stepped down leaving the current trustees number at around 2-3. Partly due to the conflict in Ukraine, and annual charges of £6707.39 this has seen the current SJP unit value drop considerably to £379,765. Following a discussion with a representative from SJP in January they have advised we can withdraw money from the investment if needed to use on a project such as the church hall renovation which is good to know.
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This report dated: 12[th] April 2023.
Signed: Kevin Dennis
Financial Report Accepted by Trustees on:
I have examined the accounts of Friends of St Mary the Virgin Hayes and have found them to be a true and accurate Record.
Signed Diane Sharp
Date 13th April 2023.
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