ST MARGARETS BABINGTON CHARITABLE TRUST FINANCIAL STATEMENTS FOR THE YEAR ENDED 5TH APRIL 2024
ST MARGAREfs BABINGTON CHARITABLE TRUST INDEX TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5TH APRIL 2024 Page Legal and administrative Informatlon 3 . 4 Report of the Trustees Independent examiners report Receipt and Payments Account Statement of Assets & Liabilities 8 - 9 Notes to the Financial Statements
ST MARGAREfs BABINGTON CHARITABLE TRUST LEGAL AND ADMINISTRATIVE INFORMATION FOR THE YEAR ENDED 5TH APRIL 2024 Trustees Mr N Crutchley Dr P Jennlngs Mr P Knatchbull Mr A Eyles Mrs S Crutchley Mrs S Freeman Rev C Cridland Registered office Berrybrae Newbury Frome BA113RG Status The charity is governed by the Charity Commission Scheme and is an unincorporated association Charity registration number 1038294 Bankers HSBC 24 Market Place Frome ' Somerset BA111AJ Solicitors Stone King LLP Solicitors 13 Queen Square Bath BA12HJ IrKJependent examiner Kate Gloudemans Sprout Consulting Ltd Hamilton House Wells Road Chilcompton Radstock BA3 4ET
ST MARGARETS BABINGTON CHARITABLE TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 5TH APRIL 2024 L al and adminfstratlve detalls The name of the Trust Is "St Margaret's Bablngton Charltable Trust" The Trust Is governed by a Deed of Trust and Is constltuted as a Charltable Trust. There are no specific restrlctions on the Charlty's operatlons. The Trust Deed gives broad investment powers. The Trustees in office during the year were as follows: Mr N Crutchley Dr P Jennings Mr P Knatchbull Mr A Eyles Mrs S Crutchley Mr A Boorer (removed 8 March 2024) Mrs S Freeman (added 8 March 2024) Rev C Cridland Trustees are appointed and removed by resolution of the other Trustees. No one Trustee is entitled to appoint and remove Trustees. Trustees are chosen according to the relevance of their skills, contacts and job and also the proximity of their home address to Babington. Aims and or anisation The Charity's aim is to hold the lease to the Church and Churchyards of St Margaret's Babington in the Parish of Kilmersdon with Babington and to utilise the income generated by the property for the maintenance thereof. The Charitys day to day administration is voluntary and professional advice and services are purchased as appropriate. The main activity of the Charity is the generation of sufficient income from weddings and other services or events at the church to maintain the property and grounds in a high state of repair. Financial review During the year income received totalled £61,651 (2023: £22,234) and expenditure totalled £32,165 (2023: £75,773). Reserves lic The charity does not at present have a formal policy for holding reserves. The Trustees are confident that the current level of cash reserves is adequate. The charity has been running with a stable income that exceeds its expenditure. Risk mana ement The charity is exposed to various rlsks - be they operational, financial or reputational. The trustees review the Charits activitles regularly to identify significant risks and, where possible, they take approprlate measures to mitigate those risks.
ST MARGAREfs BABINGTON CHARITABLE TRUST REPORT OF THE TRUSTEES (Contlnued) FOR THE YEAR ENDED 5TH APRIL 2024 Res onslbilltles of tlie Truslees Charity law requlres us as Trustees to prepare flnanclal statements for each accountlng year whlch 0rd the recelpts and payments of the charlty for the year. We are responsfble for keeplng proper accountlng records whlch dlsclose wlth reasonable accuracy at any tlme the flnanclal posltlon of the charlty and enable us to ensure that the financial statements comply wlth the Charltles Act 2011. We also have a responslbility to safeguard the assets of the charlty and to take reasonable steps to prevent fraud or any other Irregularltles. roval Approved the Trustees and signed on their behalf ley Trustee Date: 17 December 2024
REPORT OF THE INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES OF ST MARGARET'S BABINGTON CHARITABLE TRUST I report to the trustees on my examlnatlon of the accounts of St Margaret's Bablngton Charitable Trust ('the Charlty) for the year ended 5th Aprll 2024 on pages 6 to 8 following. Responslbllltles and basls of report As the trustees of the Charity, you are responslble for the preparatlon of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act,). I report in respect of my examlnation of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. Independent examiner's statement I have completed my examination. I 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: accounting records were not kept in accordance with section 130 of the 2011 Act; or the accounts do not accord with the accounting records. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached. Kate Gloudemans Sprout Consulting Ltd Hamilton House Wells Road Chilcompton BA3 4Er Date 23 December 2024
ST MARGARIT5 BADINGTON C14ARITADLE I RUST RECEIPTS AND PAYMENTS ACCOUNT FOR THE YEAR ENDED 5T14 APRIL 2024 Unrestrlcted funds Restrlcted funds Endowment funds Total funds 2024 Total funds 2023 Recelpts Charitable Activltfjes Voluntary receipts InVitment dividends/interest £16,596 £22,128 £2,926 £16,596 £22,128 £2,926 £19,925 £2,309 Sub total £41,651 £41,651 £22,234 Asset and investment sales [1] £20,000 £20,000 Jb total £20,000 £20,000 rotal receipts £61651 £61,651 £22 234 Payments Costs of Charitable Artivities Governance Costs £28,046 £4.118 £28,046 £4,118 £72.419 £3,354 Sub total £32 165 £32 165 £75 773 Asset and investment purchases Sub total Totalpayments £32 165 £32 165 £75,773 Net of recelpts/{paymentsJ Transfers between funds Cash funds last year end Cash funds th/s year end £29 486 £53 539 £17 412 £46 898 £17 412 £46.898 £70 951 £17.412 The notes on page 8 form part of these accounts.
ST MARGAREfs BABINGTON CHARITABLE TRUST STATEMENT OF ASSETS AND LIABILITIES AS AT 5TH APRIL 2024 Cash funds Bank Unrestrlcted funds £46,898 Restrlcted funds Endowment funds Total cash funds £46 898 Other monetary assets Debtors [2] Unrestrlcted funds £6,750 Restrlcted funds Endowment funds Investment assets Fund Value M&G Charity Investment fund Unrestrirted £35,024 Assets retained for the charity's own use Long terni lease over the Church property and contents [3] Fund Unrestricted Liabillties Quinquennial Report Repair Works [4] Accrual for Independent Examination Amount due £23,804 £288 Fund Unrestricted Unrestricted When due May-24 Notes: 1. The Trustees agreed to the sale of £20,000 worth of investments to replenish the bank account. 2. Debtors of £6750 due from church bookings made for 2025. 3. The Trust has a 999-yr lease over the property and contents with an insured value of £639,085. 4. In March 2024, the Trustees approved commencement of repairs costing £23,804 - due e completed in May 2024. Trustees and signed on their behalf on 1711 Ll Y Approv byth by: N Crutc The notes on page 8 form part of these accounts.
ST MARGARETS BABINGTON CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5TH APRIL 2024 1 Accountin Pollcles (a) Accountin convention The account5 have been prepared on a recelpts and payments basls and comprlse a statement that shows the charity's recelpts and payments, a statement that summarlses the charity's assets and liabllitles and related notes. The accountancy profession have determined that only accounts prepared In accordance with appllcable accounting standards present a 'true and falrf vlew and, as these recelpts and payments accounts have not (and cannot) be prepared In accordance with accounting standards, these accounts do not present (and are not intended to present) a 'true and fair, view of the charitys financial activities and state of affairs. (b) Investment assets Investment assets are stated at market value. Any income arising is taken to the Statement of Financial Activities. Any recognised or unrecognised gains or losses are also taken to the Statement of Financial Activities. (c) Investment income Investment income is accounted for when it is received. 2 Trustees remuneration No remuneration was paid by the charity in the current or previous year. No Trustees received reimbursement of secretarial and travel expenses and honorarium payments. 3 Funds The Charity has one unrestricted and undesignated fund held to enable the Trustees to achieve the objectives of the Charity as described in the Trustees report.