Somerset Churches Trust Trustees Report and Unaudited Accounts For the year ended 30 June 2021 Reg151ered Charity number. 1055840 Somerset Churches Trust Reference and Athnillistrative Infonn￿loJL NAME . SomeTsd Churcbe5 TTUSt REGISTF.RF.D CIL4fU" NUMBI:.R: 1055840 ADDRESS . clo Harrts & El*ris 14 Market Place Wells SomcTSd BA) ?RE WF.BSITE: www".somLYsachurche5trusi.org BANKF..RS: N*iollai westinins￿r Balth plc The Co￿￿0￿$ ShaftcsFwry lknsei SP7 8JY CCLA lftvcwncllt MaDagemeTht Lid 80 ch￿p$ade IA)ndoD EC2V 6DZ CAF Bank Limitrd ?5 Kings Ilill Avenue West Malling Keni MF.19 4TA United Tn￿t Bank l.iinil¢'d ODe Ropemaker StreLt tx)ndon EC2Y 9AW The Trt￿￿¢S are listed in th¢ appended TrusTttS Re SCCRF. IARY: Jim Allwood ?5 Church Close Martoek SOMe￿tI TAI? 6DS DEPF.TrIDE.NT EXAMtYER.. Roland J_ ..Idam￿l}n B..l FC. OBJE.CTS.. Th¢'[n￿l i: &. i.":y.tti -. and mak"¢ £rL.". Somerset Cbur¢hes Trusl ChairJRan's statement on the activitw 8cbievemeDts and T￿t￿re plan5 of the Trusl Against the ba¢kdrop of Covid-19, 1 must pay to the fortittide of raember& ¢FAurches aJ)d our l rnstees in rising to the challettges the panthmic has presente¢l In eommon witb m9ny organisatiott% the Tn￿t has had to fmd wa)'s with which to engaoe membws. As with mAny Lhurches #nd chapels, we have used the sx)wer of the In￿rne1 and SOLial media io Lom]nutiicaie. W'e hai'e launehed a bralld Dew website" we have p)strd"virtuaf ¢hurch wurs" a￿d h¥ve issued ll¢wsl¢tiers on-line on a reoular basis. In the ferveni hope of a grndual return io ￿0mlality., we have'"dipped ourioes in the I￿aler of Church Cr8ii'1s and an Annual r￿k. In September 2021. Rid*FStride (so abty mastem)inded b￿. Tn￿lee Philip Skelborn) ￿'ent 8he&d with highlight being a sky-dive by one of our intrepid Tn￿lets. Wt are grn(eful io ￿'ern.0￿e ￿hts took part. In Octobcr ?O?l. wc had fust Church crawl t-or two ycars, thanks io ihc organisaii(m ot Trust Treasurir Toni. Dai"ies. During thi% month. we arc again holding our Annual Talk. this irme with Jem" Sampson s[￿akin0 alK)ui the Romanesque Churche% of Somer5et. WE have al￿Ost forgotttD the ple&%ure of charting to metnber5 0i.er a 91￿5 of i%"ille or 8 soft drink! Butlding on this. we arc preparin8 a full prograTDme for 2￿2 and pray that circuEt15tance5 II"ill perniit it. In conunolt with other fundillg iKKJie& somc graDI-givTng OTganisatlOT15 aTe redet-￿]￿? their PTiorities, making the PUTDP- primin8 grants frnm the Somersct Churches Trust cvcn more importani. As a Trust. 11 i arc cnnscious of this and arc l(x>kin8 at other lunding m(MJe15 but what 15 IME￿1&￿t to IJ5 15 4 sieadv strealll of ￿t￿beT5. MembeTshÉp is the lileblood olth¢'frusl. Thn)ugbuut tbe Pgr*unme of visits, or8auised by a dedicated who are all keen io pwvide a balunLe of OPWTnuJilies to learn more about our historic ¢hurches and chapels. The TnRStees' objeetivc for the ncxt 25 years is to contitkue to kecp Sotner5Ct's churches and tha￿lS alive. l atn mosi grntefijl io them. a￿j all ÉnvofvetL or thcir conitnucd.5uppon and cotnmilmcnt. Ilx¢l l¥lm¢r C'hdirmiin 17 November 2￿21 TRUSTEES REPORT FOR THE YF.AR ENDED 30JIJZ4E 2021 The TnIstc￿ arepleased io rKe5entthcirrepffi and the year¢rth130 ?021. The Trllsiees co]ffirni that they have complial witb their duty un(kr the Charities Act 2011 io have duetrg*d f(Yguidau¢¢ publisl)ed bi. the Chwity Colllllli&sion on public t*nefiL TRUSTEES as at 30 June 2112A (ID alpbabttieal order orsun￿me) D Allwo ]k)b Croft Chris Hawkill￿ (VictsCb#irnaDI Von. Simon HS11 MaritiD Jeffrey Very Rev. Bob Kev Dr Axel Palmer {CbairmaD) Philip Sk¢lhorD ADthony Sutc]iffe Very Rev. Bob was appointed as a Trustee io Juty 2020. .%TRUCTUR4 GOVERNANCE AND MANAGEMENr Govf.RNfNci IXKUML.Kr 'll)c'Linst is governed by"frust Deed dated 9 May, 1996. On l Jalwary ?014 the o( Tn￿ was d￿1ged fro￿"Frie[￿lS of kncrset Churches and Cbape]s" to %(xlletsd chUrd￿ TnL￿ . RELKUL'I'ME￿[ AND APlY)NtMEKt OF TRUSTEES 'rhe TTh￿teS are apy)inted for an illilial iertn of five years which is then rojewablc forup to N'o fLwthcr tcrn ol'three years eaeb. Power of apwintsDLmi is vested ill the TnLStees bavillg regard to thc differtAt skills and back￿0vn￿% thaiintornitheactiTritiesoftheTnw Tnwetsaltofferedtrainingin theirrwsibilities as aTn￿le£. ORGAN]SATION The T￿￿t bas no paid employees. DaY-l(￿Y op￿10nS are conducled by th¢ and by officers who are appo￿ted by the TnLStees. RISK MANACJF.MF.NI' The Tn]8tees keep underreview ad￿lDiStratIve p￿￿ed￿and the ri5k5 to wbKb the Trust maybe subjcd attd lake such steps as is neeessary in th05C Tesptrts. A risk asseS￿e￿Il ha5 kn (kveloFd wbich is peri(NJicalty reviewed by the TThstees. XF.SF.RVF,% CWRANT-MAKING AND 1NVFSTmF.￿ POLICIES The policy ol. the trusi is 10 apply the whok of ils fulld& apart from the EndowEnetti iti grants lor the preseryalion and reF)ar of. and the Provisi￿ ofciKDmUlltty lacilities in. churLhes and chapels in the historÉ¢ coun of Sornerset 'lhe Unrvaricied &'L￿￿ are beld to Detds as they arise atyj the Truslees al￿ to bold a reSc￿e ot fiwds to ensure that aDy urgent rcqucsts be ac¢irn￿￿a￿d 8lld a ￿$t$￿nE Folicy Call be adopted f the makitLg OL grdnts. Unrestritted Funds wher¢ possible held in ltitert￿ beaTillS deFK)sits, exccrn fvr funds for immediaie needs whiLh are m2illtained in a cun￿1 accournL DtsiE￿ed arc wthere po&sible held in interest bearing de￿sitS. The Endowmthi Fund retkctsmoney specifically {k)nat￿ ￿ aratea c4)itsl filt￿ (¥D Trvbi¢b tticome ￿lsIng will be used for the purw)se set (YJÉ in tLOte 4 on page 7. ]I￿Se monie% are inv(sted in th¢ Ch*iii¢s oificial tDvestmLmt Fun A-n IiikJlliifihL Tr￿1(1 l-hpirniait 17, Noyejnber 2021 SOMERSF.T CHURCHES TRusr IndtpcDdtttt euminer's report to tbe Tr￿(￿S ofstsmenet church￿ Trust I report on ihe accounts of the Tnjst for thr yvar ended 30 Jvne ?O?l. which are set oui on paÈes • 10 3. R(*pectiYe re$pon$ibilÉties of Trustees aDd Examiner Thc charity-8 irnslees are ff4K>nsible li)r the p￿paratIon ofthe 8Lcounis. The chaTiry." S nil£lLLS collsidil Ihal audit is nol r4Eiired for this year under seciii)n 144 of the Chariiics Aci ?01 I IihL Char2lies Artl and thai an indcpendent exarninaiioll ts DeedeiL It is my responsibility 10: examine the a¢¢ibunts un(kr s¢diM 145 of ihL Ch&ilies Acl: rollow the procedure5 laid down in the gellcral Ditectil>llS given bj, the Charin. Collllni5s11)ll iunder section 14515)(b) of the Ch￿lieS Act- ajhd stat¢ whLther particular matters have come lo my attention. Basi$ of indepeDdent Èxaminer's rewrt My ¢Xttlll￿atsQn was trattiLd out in accothce with the general Dire¢iioDs 8iieD M. the Charits. CoTumi%bioD. examination in¢li[d￿ a rL'vrLw of the aCc￿￿tIng records kepl by ￿1¢ Cl￿111 and a ¢iinipari%illl i)i-ilit a¢¢ounls presenied with those r¢¢ords. It also includes consideration oran!. Unuiual iiim.% iir diicli)si&res in tbc &c()uni& and %eLktng expla]a[i(￿s from thc trnstee5 concerning su¢li JndlleTs. Tlii pr()iedurL% undertaken do provide all the cvi(knce tbat would ￿ required in all audiL and ¢onitqllLiiili' no opinian 15 g1VL￿ 25 tts whcther the accounts present a trne atid lair view and the r¢￿tt is I]￿lI￿d io thoie ￿att¢r$ set out in thc stst¢meni below. Indep¢ndent examiner's 51atem¢tst In conn¥¢lion witl) m} exatnination, no llMtterb3s come iomy aiteniion: (i) which gives me reasonable caus¢ to Ee]ieve that in any matcrial r¢y¢i the requiremelll5: 10 keep a¢¢ouniingrecords in &cordanc¢ with Sec(l(￿ 130 of the Chariiies Ilci.. and io pitpkre accounis. which acciyd with (he accouniiu8 records and ¢(>mph' ii'ith the aceounling reqiiirLments oltbe Lharilies A¢1 have llOT mei: or {?) lo ￿"hich. in m!" opinion. atteniio¥L should ￿ drdwn in wder to enable a proper understslldD￿ of e aLroun￿ 10 ￿ reathcd. QK),4,- Roland J..4damsoD BA FCA Chartered .4ccountsDt 4i.Shakespe#re.41"enu¢ Baih 42 4RG ioib )oi"ember 20?1 Somenet Churches Trnst Receipts and PaymeDts Account ror tbv Year Ended 30 Jutte 2021 iJort5triettd D¢sign*ied £Rdowmenl ds fund$ lllllds Totsl funds ?o?o Subs¢riptioDs includsng tkx relief on subscriptions 18W4 1&881 Donatio￿$ (ieneral (jnc lax relieo For Lonsultaney r05ts (note 6) For roofalar¥n Inole 5) 4041 Interest diYidtDds l)eposit iiiterest Inveslmeni income 1067 1,1167 932 8 j? 914 932 Evellts ?U?U Ride*Stride (inc tax reliefj Church visils- and other events &7)4 8.91? 672 PublteatioDS and advtrt15ing 725 Total In¢ome 32J96 932 33J28 39_838 PAI'Trif.NTS Pt>stage #nd oeneT81 expenses Suh4Lriptions eb sItL and software General prirtliog Insiirancl .12rketin Ei"¢nEs Tru>iee t_￿￿￿5¢S (noi¢ il Bank. .-h2r oe (209) 150> {728} 1209} 1162) 1584} 1269) (7281 (271) 1271) (2)81 {79) 178) 1791 {78} 1?95} 160) 136781 16,i851 11.4151 11.415) IIiPLL"S B£FORF. C.Ii.INTs P.4tD 30,981 932 31.913 33253 (19J141 I6,(￿￿) {932} 12L?iOI (46.?90} F..KcE￿% IDEFICITI OF RECEIPT5 Ol"F-k P.4} IIENT% 11.667 16.IIM) 5.663 113:Q371 Somerset Churebes Trust Statememt of Assets and Lixbilities a$ At 30 June 2021 ASSETS Unres¢rirted Designated EDdowmeDt Fund$ Fundy Futtd (lloie 5) Inoie 4) Total Funds 2U21 FuD(L Investme•t (*t murket valut) Cl)ariiies Official Investmeni Pulld (COIF): 1,779.3 Income Units (noie 4) 34340 34.240 ?9.8)5 Gill &id due from HMRC Bank Balantrf IIV25 108225 10? j6? Totsl Funds 108,225 34240 142.465 13?,417 SOURCE OF FUNDS Tr"unds Brought Forward 9Q558 29.855 132,417 144.623 Yest￿ent gain in year Surplus fi¥r the y Geiieral grant5 paid Riiot-dlann grants paid 4J85 31,913 (19,250} {7.OQO) 831 30.981 (18J18) (996) 932 (932) {?7,OOUI (19 ?90) (6.004) Funds carried fonvard 10&22) 34240 142.465 13?.417 Cyraiit.4 approTred but not paid t 30 June 2U21 (noie 7) (173110) {1".,5001 {?i.0001 Approved by the Trustees signed on their behaifby: Anthulli" L Dai"ies MA MBA FIC CMC (HOD Treasurer) Somerset Churches Trust N()tes t(J thL. Accounts for the Year Ellded 30 June 2021 l The accounts have been prepored in a¢eor&nie wilh the Chariiies A¢1 ?0118nd wilh applieabl¢ accounting standards and ¥14l¢menis of re¢L)tnmended PTactlLI'. All trnnmctions a￿ a¢couThied fcpF a rLYCtpts gnd Fydyments basis. 2 ]3ank balances, excepi fimds for immLxli&tr need& ￿e all in potentially kntcre51 bearing ￿oUnt5. 3 40 TrLJStee received 8ny remuner#iioJJ or other bcnefits" durin8 the twrent or pwious year. RoutirLC of podtet expense5 such as postage. s￿l0￿￿Y 8nd appmved tsai'el cxpenses were reimbursed. 4 Endowm¢nf Fund at market value 8nent fimd 'Ih15 repmenis a l¢gaLy of i?O.000 from thL lait Robert Hill. The tr￿0the lo be used for gr￿ts to churches in ihe Axbridtse deanery ol.thc olBath gnd Wells . Balance at 30 June ?O?O 29,8S5 Investn?ent gain Inv¢slmLmt Inc()rne Grants pald 4J85 32 (932) Balanie at 30 June ?O?I 34240 5 Durin? ?Dl 7..18 thc Trust w35 siveD £30.000 by All¥hurd)L* Trusi. 10 aiwdrd in gtanls OL £I.000 (later increased to a maximum of L?.5QM)) to chiErrhes towards the LOSI ot'insiallin8 r(M)f alamis 10 miiigaie lead theft. This award is recorded as a designa¢cd fimd. By 30 Jl￿e ?Oti1. ?4 qfdnts had IKen PATd and the award had been exhausted. 6 ?018 10 ?OIU ihe'l'TUSt cn8a8ed a consultsncy (Mithacl Auion Consultancy) 10 3Ct a5 Ride-siride Co-ordinaior. All bul £700 olihe L￿nSultan¢¥ costs in ?019no '¢rL' ioKerLd bi. donaiions fT(Im 2n anonymous benefactor. Pkge 7 Somersel Churches Trusl Notes lo the Accounts for the Year Ended 30 June 2021 Grants paid in Ibe vear 202(k21 St St¢phen, Charlion Mu.sgrove Blcss¢d Virgin Mary. AshTII All Sainty Castl¢ Cary St Michael, Brcnt Knoll St Andrcw, Jh'idcombc. Bath St Ph7lip & Si James. Bath All Saints, Nuttncy Portishead Mcthodist Church Blcsscd Virgin Mary, Nempnet Thrnbwell St Conw, Badgworth* £4.000 £3.000 £3.0(M) £1.500 £?.000 liOO £i.000 £?.iO £i.000 within Axbridge Deanery, £93? from Lndowment Fund Grants outstaDding at 30 June 2021 mi￿$[￿n Chapel, Chcwton Keynsharn St John IhL Baptist. Bridgwat¢r St James the Lts& Halse Sc kndrcw, FIigb Ham St Laur¥nc¢. Easc Ha￿tree St Mary, East Brtnt Si Bartholom¢i¥, East Lyn8 Holy Trinity, Blackford Si Mary Magdalenc, Sparkford £1,500 £5.000 L?.000 £1.500 £?,000 £1,500 £i.000 £i.uoo £17.500 Roof Aiarni Grants paid in tbe vear 2021k21 St Nlar!. Siogumher St M