REGISTERED CHARITY NUMBER: 1040472 TRUSTEESI REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 FOR ST WILFRIDS CHURCH TRUST
ST WILFRIDS CHURCH TRUST CONTEIYTS OF THE FINANCIAL ST ATEMENTS for the Ye8r Ended 31 December 2024 Page Tru8tee8' Report Independent Examlner's Report Statement of Flnantlal Actlvltles Statement of Flnanclal Posltlon Statement of Cash FIoiv8 otes to the Statement of Cash Flow$ Iyotes to the Flnanclal Stvdtements 7 to 12 Detalled Statement of Flnan¢lal Actlvltles 13
ST WILFRIDS CHURCH TRUST TRUSTEES, REPORT for the Year Ended 31 D¢eember 2024 The trustees present their report with the financial 8taten]ents of the charity for the year ended 31 December 2024. The Iruslees have adopted the provistons of Accounting and Reporting by Charities.. Statemeni of Recommended Practic¢ applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019). STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The object of the Tru.sl, as set out fully in the Trusl Deed. is to preserve. maintain and improve the Church of St Wilfrids, Sthndish. the building, the churchyard and the fixtures and fittings. REFERENCE AND ADMINISTRATIVE DETAILS Reglstered Charlty number 1040472 Prlnclpal address Parish Hall Standish WN6 OXF Trustees A Holliday D Johnson K Ashion Mrs L Hulme Independent Examlner John l.eech FCCA 4 Shevingion Moor Standi%h Wigan Lancashire WN6 OSA Approved by order of the board of trusleeii on ...l.,i.l. 0.4.110 i s . and signed on its behalf by: day - Truslee Page I
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ST WILFRIDS CHURCH TRUST Independent examlner's report to the trustees of St Wilfrlds Church Trust I report to the charity trustee.4 on my examination of Ihc accounts of St Wilfrids Church Tst (the Trusi) for the year ended 31 December 2024. Responslbllltles and basis of report As the charity trustees of the Trust you are responsible for the preparation of the a¢¢ounts in accordanGe with the requirements of the Charities Aci 2011 ('the Act,). I report in respect of my examination of th¢ Trust's accounts carried out under Section 145 of the Act and in carytng oul my examination I have followed all applicable DirectiotL4 giv¢n by th¢ Charity Commission under Section 145{5)(b) of the Act. Independent examlner's statement Since your charily's gross income exceeded £250.000 your examiner musl be a member of a li8ted body. I can confirni that I am qualified to undertake the examination becau.se I am a member of the Association of Chartered Certified Accounlants, which is one of the listed bodies. I have completed my examination. I confirn] that no mat¢rial maiters have come to my attention in connection with the examination giving me cause lo believe that in any material re.8pecl: accounting7 records were not kept tn reqpect of the Trust as required by Section 130 of the Act. or the accounL% do not accord with those records: or the accounts do not comply with the applicable requirements concernin8 the forn] and contenl of ac¢ounL8 set out in the Charities (Accountèb and Reports) Regulaiions 2008 other than any requirement that the accounts give a true and fair view which nol a matter considered part of an independenl examination. I have no concerns and have come across no other maltets in comiection with the cxamination to which altention should be drawn in this report in order to enable a proper underntanding of th¢ accounts io be reached. John Leech FCCA 4 Shevingion Moor Standish Wigan Lancashire WN6 OSA Date.. Page 2
ST WILFRIDS CHURCH TRUST STATEMENT OF FIIYANCIAL ACTIVITIES for the Year Ended 31 Deeember 2024 2024 Total funds Unrestricted fund 2023 Total funds Project fund Notes INCOME AND ENDOWMENTS FROM Donations and legacies 106,860 386,322 493,182 78,363 Investment income Total 118,240 386 322 504 562 EXPENDITURE OIY Raising fund8 Rai%ing donations and l¢gacies 32.780 26,412 6,368 32,780 36,462 Charltable aetlvltles Charitable cosL 52.910 Total Nel gains on invetslmenLs 7.117 NET INCOME 76,231 379,954 456,185 3,017 RECONCII.IATION OF FUNDS Total fund.% brought torward 190.467 231,765 422,232 419.215 TOTAL FUNDS CARRIED FORWARD 266,698 611719 878 417 422 232 The notes forni part of these financial statements Page 3
ST WILFRIDS CHURCH TRUST STATEMENT OF FINANCIAL POSITIOIY 31 December 2024 2024 Total funds 2023 Total fund$ Unrestricted fund Project fund Notes FIXED ASSETS Inve8tments 63,786 63,786 62.242 CURRENT ASSETS Debtors Catrih at bank io 30,523 172 389 30,523 784 108 988 363 613 611.719 202,912 611,719 814,631 364,601 CREDITORS Amount% falling due within one year (4,611) IYET CURRENT ASSETS 202.912 611719 814.631 359,990 TOTAL ASSETS LESS CURRENT LIABILITIES 266,698 611,719 878,417 422,232 NET ASSETS 266,698 611,719 878.417 422 232 FUNDS Utire%tricted funds,. Gcneral fund Restricted funds: Projecls fund 12 266,698 190,467 611719 231765 TOTAL fuNDS 878417 422 232 The financial stalements wcre approved by the Board of Trustee.s and authori.8ed for is8ue on ..i.i.i...o.a.I,.l.Q..%.¥......,.. and were %i&ined on ils behalf by: liday - Twstee D Johnson - Trustee The notes fonn part of these financial statements Page 4
ST WILFRIDS CHURCH TRUST STATEMENT OF CASII FLOWS for the Year Ended 31 December 2024 2024 2023 Notes Cash flows from oporAting Aetiville8 Cash generated from operations 409.304 12,7H} Net cash provided byl(used in) operating activities Cash flows from Investlng actlvltles Sale of fixed asset inv¢stments' Interest received 1.544 57,117 4.124 Net cash provided by investing activitiet• 61.241 Change In tash and cash equlvalents In the reportlng period Cash cash equlvalents at the beglnnlng of the reportlng perlod 420,495 48,497 363 613 315 116 Cash and eash equlvalents at the end of the reportlng period 784 108 363 613 The notes forn] pan of these financial slatements Page 5
ST WILFRIDS CHURCH TRUST NOTES TO THE STATEMF.NT OF CASH FLOWS for the Year Ended 31 December 2024 RECOIYCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATIIYG ACTIVITIES 2024 2023 Net income for the reportlng period (v45 per the Statement of Flnanci41 Activities) Adjustments for: Gain on investments Interest received Increaqe in debtors (DecreaNe}/increase in credito[5 456,185 3,017 (3,088) (9,647) (29,535) (14.234) (4.124) (947) Net cash provlded byl(u$ed In) operatloni 409.304 12,744) ANALYSIS OF CHANGES IN NET FUNDS At 111124 Cayh flow At 31112124 Net cash Cayh at bank 363 613 420 495 784 108 363 613 420 495 784 108 Total 363 613 420 495 784 108 The notes fonn part of th¢se financial statements Page 6
ST WILFRIDS CHURCH TRUST NOTES TO THE FIINAINCIAL STATEMENTS for the Year Ended 31 Deeember 2024 ACCOUIYTING POLICIES Basls of preparing the finanelal statements The financial statements of the ¢harity, which is a public benefit entity under FRS 102, have b¢¢n prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Chariti¢s: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019),, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Charities Act 2011. The financial stalements have been prepared under the historical cost convention. with the exceplion of investments which are included at market value. as n]odified by the r¢valuation of certain assets. Ineome All income is recognised in the Sthiement of Financial Activities once ihe charity has entitlement to th¢ fvnds, it is probable that the income will b¢ received and the nOUn1 can be measured reliably. Expendlture Liabilitie.% are recognised as exp¢ndilure as soon as there ig a legal or con%tructive obligation committing the charity lo that expenditure, it is probable that a Iransfer of economic benefils will be required in settlement and the amount of the obligation can b¢ measured reliably. Expenditure 14 accountcd for on an accruals basi% and ha been cla%%ified under headings thal aggregate all cost r¢lat¢d to the category. Where costs cannot be directly attributed to particular h¢adings they have been allocated to activities on a basis consistent with the use of re.4ources. Tanglble fixed Asset8 Depreciation is provided at the following annual rale% in order to write off each asset over ils estimated useful lite. Fixtures and filtin&i 25 % on cost Taxatlon The charily i¥ exempl from tax on its charitable activities. Fund aceountlnE Unresiric*d funds can be used in accordance with the charitable objectives al the discretion of the trustees. Restricted fund.8 can only be used for particular restricted pun)0ses within the objects of the charity. Restri¢tions ari8e when specxfied by the donor or when funds are raised for particular restricted pun)oses. Further ¢xplanation of the nature and purpose of each fund is included in th¢ notes to the financial statements. Long term Investments Lon¥ tern] investinenLs are recognised at market value, with any changes in fund value recogni%ed in the SOFA. This is an intere%1 bearing inve%lment on a legacy bequeathed by G .Greaves with a request that it be invested for 20 year4 with interest being realt.4ed for the general purpose5 of the Church. This is due to come off deposit in 2040. Page 7 continued...
ST WILFRIDS CHURCH TRUST NOTES TO THE FINANCIAL STATEMENTS- ¢onthiued for Ihe Year Ended 31 December 2024 DOIYATIONS AND LEGACIES 2024 2023 Donations Gift aid IK8aci¢s 399,772 2.658 90.752 63.354 6,784 8.225 493.182 78,363 INVESTMENT INCOME 2024 2023 Investment in¢ome D¢posil account interest 1.733 9,647 2,785 4,124 11,380 6,909 RAISINC DONATIONS AND LEGACIES 2024 2023 Project fund wsl8 32,780 36,462 CHARITABLE ACTIVITIES COSTS 2024 2023 Chuwh butlding cosi$ Donations to PCC Deprecigtion- Fixturn and fittin85 17,016 52,785 17,016 52.785 SUPPORT COSTS costs Chatitable Costs 125 TRUSTEES, REMUNERATION AND BENEFITS There were no trustees, rernun¢rntion or other benefits for the year ended 31 Deccnther 2024 nor for the year ended 31 Demiber 2023. Trustett, expen There were no tne¢s, ¢xpen8es paid for th¢ ye4r ended 31 December 2024 nor for the Ye ended 31 December 2023. Page 8
ST WILFRIDS CHURCH TRUST NOTES TO THE FILYANCIAL STATEMELYTS- eontinued for the Year Ended 31 Deeember 2024 TANGIBLE FIXED ASSETS Fixtures fittings COST At l January 2024 and 31 December 2024 6.900 DEPRECIATION Ai l January 2024 and 31 December 2024 6,900 NET BOOK VALUE At 31 December 2024 Al 31 D¢cember 2023 FIXED ASSET JIYVESTMENTS Listed inveslmenls MARKET VALUE Ai l January 2024 Revaluation 62,242 At 31 Decemb¢r 2024 NET BOOK VALUE Al 31 Deceinber 2024 63.786 At 31 December 2023 There were no investment assets outside the UK. Cost or valuation at 31 December 2024 is represented by: Li%led inveslm¢nL Valuation in 2020 Valuation in 2021 Valuation in 2022 Valuation in 2023 Valuation in 2024 Cost 5,615 14,625 (15.115) 7,117 1,544 Long ierni investments are held and managed by CCLA in it's COIF Charities Investment Fund. The Charity holds 3.136.41 units in the fund &8 at 31 December 2024. The value of the fund was £63,786 (2023 - £62,242) as at 31 Decernr 2024. The charity will hold the remaining capital inve.8lment stipulated for 20 years to 2040. Page 9 ontinued...
ST WILFRIDS CHURCH TRUST IYOTES TO THE FINANCIAL STATEMENTS - eontinued for the Year Ended 31 December 2024 io. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Other debtors Prepayments 14.082 988 988 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Other ¢reditot5 Iz. MOVEMENT IN FUNDS Net movem¢nt in funds At 31112124 At 111124 Unrestrleted funds General fund 190.467 76,231 266.698 Reytrlcted funds Projects fund 231,765 379,954 611,719 TOTAL FUNDS 422,232 456,185 878,417 Net movemenl in funds, ii)cluded in the above are follows: Incoming resources Re%ource.s expended Gain8 and Movement in funds Unrestrlcted funds General fund 118,240 (43,553) 1,544 76,231 Restrlcted funds Projects fund 386,322 (6,368) 379,954 TOTAL FUNDS 504,562 49921) 456 185 Page 10 continued...
ST WILFRIDS CHURCH TRUST NOTES TO THE FINANCIAL STATEMENTS - contlnued for the Year Ended 31 Deeember 2024 12. MOVEMENT IN FUNDS - continued Comparatlves for movement in fund5 Net movemenl in fundèp Transfers between funds At 31112123 Ai 111123 Unrestricted funds General fund 419.215 (28,748) (200,000) 190.467 Restricted fundi Project8 fund 31,765 200.000 231,765 TOTAL FUIYDS 419,215 422 232 Comparative net movement in funds. included in the above are as followg: Incoming resouwes Resourcv* expended Gains and 108ses Movement in funds Unrestrleted funds General fund 17,045 (52,910) 7,117 (28,748) Restrlcted funds Projecl.s tund 68.227 (36,462) 31,765 TOTAL FUNDS 85.272 89 372) A rUent year 12 months and prior year 12 monih.s combined position 1.4 as follows: Net movement in fund8 Transfers between At 31112124 At 111123 Unre$trlcted funds General fund 419.215 47,483 (200,000) 266,698 Restricted funds ProjecL% fund 411,719 200,000 611,719 TOTAL FUNDS 419.215 459.202 878417 Pagell continued...
ST WILFRIDS CHURCH TRUST NOTES TO THE FINAISCIAL STATEMENTS- eontlnued for the Year Ellded 31 December 2024 12. MOVEMENT IN FUNDS - tontinued A current year 12 months and prior year 12 montlLq combined net mov¢ment in funds, includ¢d in the above are follows: Incoming re.4ources Resource expended Gains and losses Movement in funds Unrestrlcted funds General fund 135,285 {96,463) 8,661 47.483 Restrlcted fund8 Projects fund 454,549 (42,830) 411.719 TOTAL FUNDS 589 834 139 293) 459.202 13. OTHER FINANCIAL COMMITMENTS During 2024 the Church commilled lo the rebuilding of the Church spire following specialised advice. Following a %uccessful appli¢alion to the National Lottery Heritage Fund these works will be completed during 2025 and are fully co.4ted. In December 2024 lh¢ Quinquennial inspection report wa¥ published. This summarises works to be completed in the short to medium terni around the Church buildingy and Peace Gate. No monie% have b¢¢n set a%ide specifically as these are Ihe nornial function of the TN4t. In%peiti()ns around the Church roof timbers will continue in 2025 to asse the damages caused. The outcome will be known during 20?5, 14. RELATED PARTY DISCLOSURES Certain ¢08L41receipts incurred in either the PCC or Tru%1 have been re-imbupled during th¢ year. As at the year end £13,002 was repayable from th¢ PCC (2023 - £4,61 Idu¢ to PCC). Page 12
ST WILFRIDS CHURCH TRUST DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31 Deeember 2024 2024 2023 INCOME AND ENDOWMENTS Donatlons and legacle5 Donations Gift aid Legacies 399.772 2.658 63,354 6,784 493.182 78.363 Investment income Inv¢stm¢nt income Deposit accounl interest 1.733 2.785 11,380 Totydl Incomlng resources 504,562 85.272 EXPENDITURE Ralslng donatlons and legacles Project fund costs. 32,780 36,462 ChY4rltable actlvltlej Church buildingF co%Is Donaiion% to PCC 17,016 17,016 52,785 Support co8t8 Governanee costs Independenl cxamination 125 125 Total resources expended Iyet Income/(expendlture) before galns and 1055es 454,641 (4.100) Reallsed recognlsed galns and losses Unrealised {loss}Igain on investments. Net Income 456 185 This page does not forni part of the statutory financial statements Page 13