||**Trustees' Annual Report**|**Trustees' Annual Report**|**Trustees' Annual Report**|**Trustees' Annual Report**|**Trustees' Annual Report**|**for theperiod**|**for theperiod**|**for theperiod**| |---|---|---|---|---|---|---|---|---| ||**From **|Period start date|||**To**|Period end date||| |||Day
01|Month
01|Yea
2020||Day
31|Month
12|Year
2020| ## Section A Reference and administration details **Charity name** The St Germoe Fabric Trust **Other names charity is known by Registered charity number (if any) 1057430 Charity's principal address** Trade Winds Pengersick Lane, Praa Sands Penzance, Cornwall **Postcode TR20 9SL** **Names of the charity trustees who manage the charity** |1
2
3
4
5
6
7|**Trustee name**|**Office (if any)**|**Dates acted if not for**
**whole year**|**Name of person (or body)**
**entitled to appoint trustee (if**
**any)**| |---|---|---|---|---| ||Rev Canon David Miller|Trustee|Started 21.10.20|Ex Officio Priest in Charge| ||Mr Rod Coward|Trustee/Chair||Ex Officio ChurchW/APCM| ||Mrs Pam Coward|Chair|Finished 21.10.20|Ex Officio Churchwarden| ||Mrs Anna Harry|Secretary||St Germoe APCM| ||Mrs Gwynneth Willett|Treasurer||St Germoe APCM| ||Mrs Bette Owen|Trustee||St Germoe APCM| ||Mrs Judith Smalley|Trustee||St Germoe APCM| **Names of the trustees for the charity, if any, (for example, any custodian trustees)** ||**Name**|**Dates acted if not for whole year**| |---|---|---| ||Truro Diocesan Board of Finance|| |||| ## **Names and addresses of advisers (Optional information)** |**Names and addresses of advisers (Optional information)**|**Names and addresses of advisers (Optional information)**|**Names and addresses of advisers (Optional information)**| |---|---|---| |**Type of adviser **
**Name**
**Address**||| |**Director Client**
**Investments**|Heather Lamont|CCLA, Senator House, 85 Queen St, London EC4V 4ET| |||| ## **Name of chief executive or names of senior staff members (Optional information)** **TAR** March **2012** 1 **Section B Structure, governance and management** ## **Description of the charity’s trusts** Trust Deed of 20 May 1996 and Supplemental Trust Deeds of 17 January Type of governing document (eg. trust deed, constitution) 2011 and 24 April 2017, new Supplemental Deed in process for completion 2021. Trust with 6 Managing Trustees How the charity is constituted (eg. trust, association, company) Trustee selection methods Three ex officio Trustees and three appointed by the St Germoe APCM (eg. appointed by, elected by) from amongst the members on the St Germoe Electoral Roll. If a vacancy should occur during the year the PCC can appoint a new Trustee, also if there is a vacancy in the three ex officio Trustees the APCM or PCC can appoint a new Trustee. The Treasurer can be appointed from outside the Church if there is no suitable candidate on the Electoral Roll and can be remunerated. If there are vacancies in the ex officio roles they can be filled at the APCM or during the year by the PCC. - (eg. trust, association, company) ## **Additional governance issues (Optional information)** You **may choose** to include additional information, where relevant, about: - policies and procedures adopted for the induction and training of trustees; - the charity’s organisational structure and any wider network with which the charity works; The Trust has a policy of recruiting new Trustees as follows. Where there is a vacancy details of the skills required, a copy of the Governing Document (Trust Deeds) and a copy of the Charity Commission CC3 (‘The essential trustee’) will be provided a month before the APCM to those on the PCC who feel they could fulfil the role and are willing to serve. Election of the successful candidate will take part at the APCM, if only one candidate they will be duly elected or by ballot if there is more than one candidate for each vacancy. The successful candidate will need to sign a Trustee Declaration Form. - relationship with any related parties; - trustees’ consideration of major risks and the system and procedures to manage them. ## **Section C Objectives and activities** **Summary of the objects of the charity set out in its governing document** The Charity’s objects are for the purpose of the upkeep, repair, maintenance and insurance of the fabric and equipment of the Church of St Germoe, its churchyard and cemetery (including any future extensions thereof) and the Church Hall. Any surplus funds may be devoted to similar objects in respect of St Breaca Church at Breage and the Mission Chapel at Ashton but subject to conditions laid down in the Supplemental Deed of 2011. The Supplemental Deed of 2017 allows capital to be released (without recourse for repayment) for essential works, if the income, is depleted subject to a balance of £500,000 remaining in the Capital account. A new Supplemental Deed is being finalised to broaden the objects and allow for the Capital to be used for any project, work, that is deemed essential at the absolute discretion of the Trustees. **TAR** March **2012** 2 **Summary of the main activities undertaken for the public benefit in relation to these objects (include within this section the statutory declaration that trustees have had regard to the guidance issued by the Charity Commission on public benefit)** The St Germoe Fabric Trust supports the preservation of the fabric and equipment of St Germoe Church thus ensuring that it remains open and in good repair for everyone, the congregation, local community, visitors, for baptisms, weddings, funerals and those interested in the history of this beautiful 12[th] century listed building. Yearly income from the capital in grants is utilised for this. This also applies to the Church Hall, cemetery and churchyards and the payment of insurances. The Trustees are finalising a new Supplemental Deed giving them more flexibility in expanding the objects of the Trust. The Trustees have in mind the statutory declaration that they have had regard to the guidance issued by the Charity Commission on public benefit. ## **Additional details of objectives and activities (Optional information)** You **may choose** to include further statements, where relevant, about: - policy on grantmaking; - policy programme related investment; Under the terms and conditions of the Trust all our grant making is for St Germoe Church at the moment but the Trustees are looking to broaden its objects in a new Deed. The Trust regularly reviews its investments in the COIF funds. All our Trustees receive no remuneration for their work in the Trust. - contribution made by volunteers. ## Section D Achievements and erformance p In this unusual year our main grants to St Germoe Church were: The yearly church and church hall insurances , annual organ tuning, Chubb fire inspection On-going renovation to the open churchyard and grass cutting in the open and closed churchyards ## Uplighter repairs The interior of the church has been replastered where the plaster had been removed and the whole church limewashed. A deep clean was undertaken after completion. Work was completed just before the end of December 2020 and will be reflected in next year’s account. ## **Section E Financial review** The total of the Capital assets of the Trust is invested and can only be **Brief statement of the** utilised as laid down in the Trust Deed and Supplemental Deeds. **charity’s policy on reserves** Normally only income from the capital can be utilised for grants to cover the objects of the Trust. There should always be a balance of £500,000 in the Capital Account except for extreme circumstances when permission would have to be sought from the Archdeacon of Cornwall to access this. A new supplemental Deed is in the process of being finalised. **Details of any funds materially** None **in deficit** **TAR** March **2012** 3 Further flnanual re¥ie* detalls Ioptlonal hth>rnwtlonl You may choose to indude additional information. where relevant about.. All expenditure received from the Intome of the Capital supports the key objertives of the Charrty. the charIt￿S prinapal sources of funds (including any fundraising),. how expenditure has supported the key objectives of the charity; 83% of the Trusvsfund are invested in the COIF Ethical Investment Fund. investment policy and objectives including any ethical investment pollcy adopted. Section F Other optional information A new Deed, which will supersede the previou5 Deeds. has been completed. It is broader in its scope and is drafted to allow greater benefit not only to St Germoe a)urch, the thurth hall and churchyards but also to provide funding to advance the aims and objectlves of the Churth of England in the community and to ensure that St Germoe Church contlnues as a place of worshlp. Section G Declaration The tru8tee8 declarè that they have approved the trustees. rèport above. Slgned on bohaff of tho charity's trustees Slgnaturels) Full namel8) John Rodney Coward Chair MaryAlice Diana Harry Secretary Posltlon leg Secretary. Chalr, Date I f120W TAR March 2012 ||**Charity Name**|||||**N**|||**CC16a**| |---|---|---|---|---|---|---|---|---|---| ||**The St Germoe Fabric Trust**||||||||| |**Receipts andpayments accounts**|||||||||| ||**For the period**||Period start date|||P|Period end date||| ||||01/01/2020||||31/12/2020||| ||||||||||| |**Section A Receipts and payments**|||||||||| ||**Unrestricted**
**funds**||**Restricted**
**funds**||**Endowment**
**funds**||**Total funds**||**Last year**| ||**to the nearest**
**£**||**to the nearest £**||**to the nearest £**||**to the nearest £**||**to the nearest £**| |**A1 Receipts**|||||||||| |COIF Ethical Investment Fund|**20,136**||**-**||**-**||**20,136**||**19,695**| |COIF PropertyFund|**5,686**||**-**||**-**||**5,686**||**6,487**| |COIF Deposit Fund 1|**50**||**-**||**-**||**50**||**56**| |COIF Deposit Fund 2|**0**||**-**||**-**||**0**||**1**| |Yearly pledges|**-**||**575**||**-**||**575**||**810**| |Bequests|**-**||**4,236**||**-**||**4,236**||**-**| |Tax refunds|**-**||**120**||**-**||**120**||**120**| |Easyfundraising|**-**||**14**||**-**||**14**||| |LPWGS|||||||||**3,945**| |**_Sub total_**_(Gross income for_
_AR)_|**25,872**||**4,945**||**-**||**30,817**||**31,114**| ||||||||||| |**A2 Asset and investment**
**sales, (see table).**|||||||||| ||**-**||**-**||**-**||**-**||| ||**-**||**-**||**-**||**-**||**-**| |**_Sub total_**|**-**||**-**||**-**||**-**||**-**| ||||||||||| |**_Total receipts_**|**25,872**||**4,945**||**-**||**30,817**||**31,114**| ||||||||||| |**A3 Payments**|||||||||| |Grants to PCC|**7,886**||**-**||**-**||**7,886**||**53,446**| |Solicitor'spayments|**3,117**||**-**||**-**||**3,117**||**-**| ||**-**||**-**||**-**||**-**||**-**| ||**-**||**-**||**-**||**-**||**-**| ||**-**||**-**||**-**||**-**||**-**| ||**-**||**-**||**-**||**-**||**-**| ||**-**||**-**||**-**||**-**||**-**| ||**-**||**-**||**-**||**-**||**-**| ||**-**||**-**||**-**||**-**||**-**| |**_Sub total_ **|**11,003**||**-**||**-**||**11,003**||**53,446**| ||||||||||| |**A4 Asset and investment**
**purchases, (see table)**|||||||||| ||**-**||**-**||**-**||**-**||| ||**-**||**-**||**-**||**-**||| |**_Sub total_ **|**-**||**-**||**-**||**-**||**-**| ||||||||||| |**_Totalpayments_**|**11,003**||**-**||**-**||**11,003**||**53,446**| ||||||||||| |**_Net of receipts/(payments)_**|**14,869**||**4,945**||**-**||**19,814**||**- 22,332**| |**A5 Transfers between funds**|**-**||**-**||**-**||**-**||**-**| |**A6 Cash funds lastyear end**|**19,865**||**4,202**||**-**||**24,067**||**-**| |**_Cash funds thisyear end_**|**34,734**||**9,147**||**-**||**43,881**||**- 22,332**| **TAR** March **2012** 5 Section B Statement of assets and liabilities at the end of the period Unr•strictgd funds to near￿1£ Restrictsd funds to n•ar¢st£ Endov•Trent fund5 Cat•gori88 DetaFIs Bl Cash funds Baf¢lAy$ BaNk COIF Depotsh Fund 1S,515 19.219 OIF De￿rt Fund 187 .147 UnT8Strictsd funds Restricted fuftds to n•ar4St£ Endowment fund$ to n•arost£ F￿ndlOT•￿kh *15ot b•5D Capttal CoJt{oplbnall eun¥ntval B3 Investment ass¢ts COIF Eth* InvestmBnt Fund COIF Eth￿ Investmeni Furvj ¢OIF Pwrty Ftsnd Incom• Capit*l ¢OIF Pwrty Fund Ihtom Dotalls FUndtowh￿tt s•t b•lr* Co¥tlopUon•ll Cuir*ntvaluq B4 Assets retalned for the Fund to *thith Details Arnountdu• onal BS LSabllltrt¥ Svjned by OM ortm) trusteeson t￿a￿Of￿1 the Iru8te8s s￿nature Print Name Date of roval Jvhn Rodne Coward Mary Aice Diarla Harry CCXX R2 8(tounts Issi 02102￿021 CHARITY COMMISSION FOR ENGLAND ANO WALES Independent examiner's report on the accounts Section A Independent Examiner's Report Report to the trusteesl members of The St Germoe Fabric Trust On accounts for the year ended Charity no {if any) 31$t December 2020 1057430 Set out on pages I report to the trustees on my examination of the accounts ofthe above charity {"the Trust.) for the year ended 3111212020. Responsibilities and As the charity trustees of the Trust, you are responsible for the preparation basis of report of the accounts in accordan￿ with the requirements of the Charities Act 2011 {"the Act'}. I report in respect of my examination of the Trust's accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed the applicable Directions given by the Charity Commission under section 14515){bl of the Act I have completed my examination. I confirm that no material matters have come to my attention {¢)theTrthaTr that.disclosed below ') in connection with the examination which gives me cause to believe that in, any material respect.. accounting record$ were not kept in accordance with section 130 of the Act or the accounts do not accord with the accounting records Independent examiner's statement 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. Please delete the words in the brackets if they do not apply. Signed: Date: 26 April 2021 Name: Relevant professlonal qualification{sl or body (if any): Licensed member of the Association of Accounting Technicians Addrgss: Addition Accountants PenZan￿ Limited The Regent, Chapel Street, PENZANCE TR18 4AE IER October 2018 TAR March 2012 Section B Disclosure Only complete if the examiner needs to highlight matters of concern (see CC32, Independent examination of charity accounts.. directions and guidance for examiners). Give here brief details of any items that the examiner wishes to disclose. IER October 2018 TAR March 2012