## **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**<br>**Total**<br>**Prior year**<br>**funds**<br>**funds**<br>**funds funds**<br>**total funds**|**UnrestrictedRestrictedEndowment**<br>**Total**<br>**Prior year**<br>**funds**<br>**funds**<br>**funds funds**<br>**total funds**|
|---|---|
|**Receipts**<br>Planned giving<br>Collections and other giving<br>Other voluntary receipts<br>Gift Aid recovered<br>Other receipts<br>Activities for generating funds<br>Investment Income<br>Receipts from church activities<br>**Total receipts**<br>**Payments**<br>Cost of generating funds<br>Missionary and Charitable Giving<br>Parish Share<br>Clergy and Staffing costs<br>Church Running Expenses<br>Hall Running Costs<br>Church Repairs & Maintenance<br>Hall Repairs & Maintenance<br>New Building work<br>Governance Costs<br>**Total payments**<br>**Excess of receipts over payments before transfer**<br>**Transfers**<br>Gross transfers between funds - in<br>Gross transfers between funds - out<br>**Excess of receipts over payments before other**<br>**gains / losses**<br>**Net movement in funds**<br>**Excess of receipts over payments at beginning of**<br>**year**<br>**Excess of receipts over payments for the year**<br>**Represented by**<br>**Unrestricted**<br>General fund<br>**Designated**<br>St James Place Unit Trust<br>**Restricted**<br>St James Place Unit Trust|—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>160<br>—<br>—<br>160<br>34,615<br>—<br>—<br>—<br>—<br>—<br>59,291<br>—<br>—<br>59,291<br>4,288<br>—<br>—<br>—<br>—<br>—<br>3,858<br>—<br>—<br>3,858<br>1<br>—<br>—<br>—<br>—<br>—|
||**63,309**<br>**—**<br>**—**<br>**63,309**<br>**38,905**<br>44,670<br>—<br>—<br>44,670<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>20,141<br>—<br>—<br>20,141<br>2,774<br>—<br>—<br>—<br>—<br>—<br>19,882<br>—<br>—<br>19,882<br>15,401<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>38<br>—<br>—<br>38<br>23|
||**84,732**<br>**—**<br>**—**<br>**84,732**<br>**18,200**|
||**(21,422)**<br>**—**<br>**—**<br>**(21,422)**<br>**20,704**<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—|
||**(21,422)**<br>**—**<br>**—**<br>**(21,422)**<br>**20,704**|
||**(21,422)**<br>**—**<br>**—**<br>**(21,422)**<br>**20,704**|
||**75,789**<br>**339,500**<br>**—**<br>**415,289**<br>**394,584**|
||**54,367**<br>**339,500**<br>**—**<br>**393,867**<br>**415,289**<br>(23,228)<br>—<br>—<br>(23,228)<br>46,924<br>77,595<br>—<br>—<br>77,595<br>28,865<br>—<br>339,500<br>—<br>339,500<br>339,500|



## **Balance sheet** 

|**Total funds**<br>**Prior year funds**|**Total funds**<br>**Prior year funds**|
|---|---|
|**Current assets**<br>Investments<br>Cash at bank and in hand|372,425<br>368,365<br>21,441<br>46,924|
||**393,867**<br>**415,289**|



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|**Net current assets less current liabilities**<br>**Total net assets less liabilities**<br>**Represented by**<br>**Unrestricted**<br>General fund<br>**Designated**<br>St James Place Unit Trust<br>**Restricted**<br>St James Place Unit Trust<br>**Funds of the church**|**393,867**<br>**415,289**|
|---|---|
||**393,867**<br>**415,289**<br>(23,228)<br>46,924<br>77,595<br>28,865<br>339,500<br>339,500|
||**393,867**<br>**415,289**|



## **Statement of assets and liabilities** 

||**General**<br>**DesignatedRestrictedEndowmentThis year**<br>**Last year**|
|---|---|
|**Current assets - Cash at bank and in hand**<br>Friends current account -<br>Friends deposit account -<br>**Totals**<br>**Current assets - Investments**<br>St James Place Unit Trust -<br>**Totals**<br>**Grand total**|11,170<br>339,500<br>(339,500)<br>—<br>11,170<br>11,660<br>10,271<br>—<br>—<br>—<br>10,271<br>35,263|
||**21,441**<br>**339,500**<br>**(339,500)**<br>**—**<br>**21,441**<br>**46,924**<br>(44,670)<br>(261,904)<br>679,000<br>—<br>372,425<br>368,365|
||**(44,670)**<br>**(261,904)**<br>**679,000**<br>**—**<br>**372,425**<br>**368,365**|
||**(23,228)**<br>**77,595**<br>**339,500**<br>**—**<br>**393,867**<br>**415,289**|



## **Fund movement by type** 

||**Opening**<br>**IncomingOutgoingTransfers Gains/losses**<br>**Closing**|
|---|---|
|**Investment - St James Place Unit**<br>Designated<br>Restricted<br>**Sub-total for Investment**<br>**General - General fund**<br>Unrestricted<br>**Sub-total for General**<br>**Grand total**|28,865<br>48,730<br>—<br>—<br>—<br>77,595<br>339,500<br>—<br>—<br>—<br>—<br>339,500|
||**368,365**<br>**48,730**<br>**—**<br>**—**<br>**—**<br>**417,095**<br>46,924<br>14,579<br>84,732<br>—<br>—<br>(23,228)|
||**46,924**<br>**14,579**<br>**84,732**<br>**—**<br>**—**<br>**(23,228)**|
||**415,289**<br>**63,309**<br>**84,732**<br>**—**<br>**—**<br>**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**<br>0301 - Loose plate collections<br>0401 - Regular gift days<br>0501 - One-off Gift Aid gifts<br>Total<br>**Other voluntary receipts**<br>0410 - Giving through church boxes<br>0510 - Gifts of quoted securities<br>0550 - Donations appeals etc<br>0701 - Legacies<br>0801 - Recurring grants<br>08A1 - Non-recurring one-off grants<br>Total<br>**Gift Aid recovered**<br>0601 - Tax recoverable on Gift Aid<br>Total<br>**Other receipts**<br>0901 - Other funds generated<br>1310 - Insurance claims<br>1320 - Surplus - sales of fixed assets<br>Total<br>**Activities for generating funds**<br>0910 - Rummage sales etc<br>1220 - Bookstall sales - fund raising<br>1240 - Church hall lettings - fund<br>raising<br>1250 - Magazine income - advertising<br>1260 - Parish magazine sales<br>Total<br>**Investment Income**<br>1001 - Dividends<br>1020 - Bank and building society<br>interest<br>1030 - Rent from lands or buildings<br>Total<br>**Receipts from church activities**<br>1101 - Fees for weddings and<br>funerals<br>1210 - Bookstall sales to promote<br>objectives<br>1230 - Church hall lettings -<br>objectives<br>Total|—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—|
|---|---|
||—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>160<br>—<br>—<br>—<br>160<br>70<br>—<br>—<br>—<br>—<br>—<br>34,545<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—|
||160<br>—<br>—<br>—<br>160<br>34,615<br>—<br>—<br>—<br>—<br>—<br>—|
||—<br>—<br>—<br>—<br>—<br>—<br>10,561<br>48,730<br>—<br>—<br>59,291<br>4,288<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—|
||10,561<br>48,730<br>—<br>—<br>59,291<br>4,288<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—|
||—<br>—<br>—<br>—<br>—<br>—<br>3,851<br>—<br>—<br>—<br>3,851<br>—<br>7<br>—<br>—<br>—<br>7<br>1<br>—<br>—<br>—<br>—<br>—<br>—|
||3,858<br>—<br>—<br>—<br>3,858<br>1<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—|
||—<br>—<br>—<br>—<br>—<br>—|
|**INCOME TOTAL**|14,579<br>48,730<br>—<br>—<br>63,309<br>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**<br>2520 - Hall running - oil<br>2530 - Hall running - electricity<br>2540 - Hall running - gas<br>2550 - Hall running - insurance<br>2560 - Hall running - maintenance<br>2570 - Hall running - telephone<br>2580 - Hall running - water<br>2590 - Hall running - heating and<br>lighting<br>Total<br>**Church Repairs & Maintenance**<br>2701 - Church major repairs -<br>structure<br>2710 - Church major repairs -<br>installation<br>2720 - Church interior and exterior<br>decorating<br>Total<br>**Hall Repairs & Maintenance**<br>2801 - Hall + major repairs - structure<br>2820 - Hall + major repairs -<br>installation<br>2830 - Hall + interior and exterior<br>decorating<br>2840 - Other PCC property upkeep<br>Total<br>**New Building work**<br>2901 - New building parsonage<br>house<br>2910 - New building house for curate<br>2920 - New building Church<br>2930 - New building Hall<br>Total<br>**Governance Costs**<br>2601 - Governance costs<br>examination/audit fee<br>Total|—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—|
|---|---|
||—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>19,882<br>—<br>—<br>—<br>19,882<br>15,401<br>—<br>—<br>—<br>—<br>—<br>—|
||19,882<br>—<br>—<br>—<br>19,882<br>15,401<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—|
||—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—<br>—|
||—<br>—<br>—<br>—<br>—<br>—<br>38<br>—<br>—<br>—<br>38<br>23|
||38<br>—<br>—<br>—<br>38<br>23|
|**EXPENDITURE TOTAL**|84,732<br>—<br>—<br>—<br>84,732<br>18,200|
|||
|**GRAND TOTAL**|(70,152)<br>48,730<br>—<br>—<br>(21,422)<br>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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