2025-04-05-accounts

Charity registration number 1057766

MARY BASS CHARITY

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED5 APRIL 2025

MARY BASS CHARITY

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees	Mr S Mossop	(Resigned 16 October
		2024)
	MrsM Hay
	MrsJSheldrake
	Mr CJ Penney
	Mr R Willingham
	Mr P Bush
	Mr K Wheeler
	Mrs E Gregory
	Mr G Palmer
	Mrs C Warner
	MrsW R Goose
	MrsJWebb	(Appointed 16 October
		2024)
	MrSJ Munson	(Appointed 26 March 2025)
Charitynumber	1057766
Principal address	39 Church Street
	Warmington
	Peterborough
	PE8 6TE
Independent examiner	TCGroup
	33 Boston Road
	Holbeach
	Spalding
	Lincolnshire
	PE127LR

MARY BASS CHARITY

CONTENTS

	Page
Trustees report	1-2
Statement oftrustees responsibilities	3
Independent examiner's report	4
Statement offinancial activities	5
Balance sheet	6
Notestothefinancialstatements	7-15

MARY BASS CHARITY

TRUSTEES REPORT

FOR THE YEAR ENDED 5 APRIL 2025

The trustees present their annual report and financial statements for the year ended 5 April 2025.

Objectives and activities

Public benefit

In planning our activities for the year we kept in mind Charities Commission's guidance on public benefit at our trustee meetings.

To achieve these objectives, the Charity operates a number of projects. All projects are monitored closely by our personnel to ensure that projects are delivered in accordance with our own standards and to maximise the value to beneficiary groups.

Different projects undertaken in the year are included in the Charity's Annual Report.

The trustees confirm that they have complied with the requirements of section 4 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.

Activities

The Charity has continued to support its seven parishes of benefit in part by assisting them towards the costs of projects to maintain the fabric of their churches and in part by assisting them with administration costs and the costs of providing for the services of priests to continue the ministry of the Church of England inthe parishes of benefit. In addition, in conjunction with the Diocese of Lincoln, the Charity has helped to fund a Young Persons Worker to promote the values of the Church of England to young people in the area of benefit.

Financial review

Policy on reserves

(i) The objects of the charity are to further the religious and other charitable work of the Church of England (including the furtherance of the aims of the Christian Stewardship Movements) within the area of benefit. With these objects in mind trustees have again, in 2019, reviewed the charity’s reserves policy, last reviewed in 2009. They have considered the income and expenditure of the charity over the past 10 years. They have taken account of projects likely to be undertaken within the area of benefit in the next 2 to 3 years, for a number of which they have already given the assurance of funding. They have also taken account of the present uncertain investment climate and the low level of interest rates. They conclude that in the circumstances the reserves of the charity need to be maintained at a level of at least £1,500,000 in order to continue to provide the income the trustees envisage the charity will need to continue to further its objects.

(ii) Monitoring and reviewing reserve policy

The reserve policy shall be reviewed by the trustees every 10 years to ensure that the charity's level of expenditure and reserves will enable the charity to continue to operate satisfactorily.

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. MARY BASS CHARITY

TRUSTEES REPORT (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2025

Financial instruments

Objectives and policies

The charity’s activities expose it to a number of financial risks including credit risk, cash flow risk and liquidity risk. The use of financial derivatives is governed by the charity’s policies approved by the board of trustees, which provide written principles on the use of financial derivatives to manage these risks. The charity does not use derivative financial instruments for speculative purposes.

Credit risk

:

The charity’s principal financial assets are bank balances and cash, trade and other receivables, and investments. The charity’s credit risk is primarily attributable to its trade receivables. The amounts presented in the balance sheet are net of allowances for doubtful receivables. An allowance for impairment is made where there is an identified loss event which, based on previous experience, is evidence of a reduction in the recoverability of the cash flows. The credit risk on liquid funds and derivative financial instruments is limited because the counterparties are banks with high credit-ratings assigned by international credit-rating agencies. The charity has no significant concentration of credit risk, with exposure spread over a large number of counterparties and customers.

The trustees report was approved by the Board of Trustees on trustees report was approved by the Board of Trustees on report was approved by the Board of Trustees on was approved by the Board of Trustees on approved by the Board of Trustees on by the Board of Trustees on the Board of Trustees on Board of Trustees on of Trustees on on eeeaa

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MARY BASS CHARITY

STATEMENT OF TRUSTEES RESPONSIBILITIES

FOR THE YEAR ENDED 5 APRIL 2025

The trustees are responsible for preparing the Trustees Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that year.

In preparing these financial statements, the trustees are required to:

• select suitable accounting policies and then apply them consistently;

• observe the methods and principles in the Charities SORP;

• make judgements and estimates that are reasonable and prudent;

• state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.

The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

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MARY BASS CHARITY

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF MARY BASS CHARITY

| report to the trustees on my examination of the financial statements of Mary Bass Charity (the charity) for the year ended 5 April 2025.

Responsibilities and basis of report

As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).

| report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act. In carrying out my examination | have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Your attention is drawn to the fact that the charity has prepared financial statements in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.

| understand that this has been done in order for financial statements to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

{ have completed my examination. | confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

• 1 accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or 2 _ the financial statements do not accord with those records; or

• 3 the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.

| have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

Christopher McKenna ACA

TC Group

33 Boston Road Holbeach Spalding Lincolnshire PE12 7LR

Dated: 22125

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MARY BASS CHARITY

STATEMENT OF FINANCIAL ACTIVITIES

INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 5 APRIL 2025

		Unrestricted	Unrestricted
		funds	funds
		2025	2024
	Notes	£	£
Income from:
Investments	3	208,297	121,076
Total income		208,297	121,076
Expenditure on:
Charitable activities	4	164,354	127,896
Total expenditure		164,354	127,896
Net gains/(losses) on investments	7	(36,466)	87,521
Net income and movement in funds		7,477	80,701
Reconciliation offunds:
Fund balances at 6 April 2024		2,229,842	2,149,141
Fundbalancesat5April2025		2,237,319	2,229,842

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

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MARY BASS CHARITY

BALANCE SHEET

AS AT 5 APRIL 2025

		2025		2024
	Notes	£	£	£	£
Fixed assets
Investment properties	9		750,000		750,000
Investments	10		1,322,425		1,340,289
			2,072,425		2,090,289
Current assets
Debtors	11	18,849		12,905
Cash at bank and in hand		147,460		127,794
		166,309		140,699
Creditors: amounts fallingdue within
oneyear	12	(1,415)		(1,146)
Net current assets			164,894		139,553
Total assets less current liabilities			2,237,319		2,229,842
Income funds
Unrestricted funds			2,237,319		2,229,842
			2,237,319		2,229,842

The financial statements were approved by the Trustees on 2A ler,

4 fi = r \ j y r§ J Sheldrake MnCJ Penney—~ , Trustee _[Trustee]

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MARY BASS CHARITY

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5 APRIL 2025

1 Accounting policies

• 1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011 and “Accounting and Reporting by Charities: 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 1 January 2019)". The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

• 1.2. Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3. Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and usesofthe restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

• 1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions hwe been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

oiFin

MARY BASS CHARITY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2025

1 Accounting policies

(Continued)

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. if the amount is not known, the legacy is treated as a contingent asset.

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, andthe amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more thanone activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

1.6 Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss. Fixed asset investments Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.

1.7 Fixed asset investments

1.8 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

• 1.9 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention tosettle ona net basis or to realise the asset and settle the liability simultaneously.

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MARY BASS CHARITY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2025

1 Accounting policies

(Continued)

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition offinancial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

2 Critical accounting estimates and judgements

in the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

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MARY BASS CHARITY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2025

3 Income from investments

	Unrestricted	Unrestricted
	funds	funds
	2025	2024
	£	£
Rental income	16,100	16,100
Income from listed investments	33,272	35,165
Share ofMary Bass Trust gross income	77,175	69,036
Share of Mary Bass Trust proceeds from sale of cottage	80,960	-
Interest receivable	790	775
	208,297	121,076

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MARY BASS CHARITY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2025

4 Expenditure on charitable activities

	Activities	Activities	Investment	Total	Activities	Investment	Total
	and	services	expenses		and services	expenses
		2025	2025	2025	2024	2024	2024
		£	£	£	£	£	£
St Matthews Sutton
Bridge PCC		9,681	-	9,681	4,775	-	4,775
Holbeach St Marks PCC		1,762	-	1,762	1,842	-	1,842
St Marys Whaplode PCC		11,527	-	11,527	9,996	-	9,996
All Saints Holbeach		52,708	-	52,708	39,412	-	39,412
St Mary Magdalen
Gedney PCC		20,295	-	20,295	20,012	-	20,012
St Mary Magdalen Fleet		4,409	-	4,409	5,270	-	5,270
St Marys Long Sutton		15,428	-	15,428	17,733	-	17,733
Young Persons Mission		14,593	-	14,593	13,706	-	13,706
Buildings insurance		-	329	329	-	210	210
Property repairs		-	18,442	18,442	-	65	65
Professional fees		-	10,587	10,587	-	10,354	10,354
Bank charges		56	-	56	15	-	15
		130,459	29,358	159,817	112,761	10,629	123,390
Share ofsupport and governance costs			(see note 5)
Governance		4,537	-	4,537	4,506	-	4,506
		134,996	29,358	164,354	117,267	10,629	127,896
Analysis byfund
Unrestricted funds		134,996	29,358	164,354	117,267	10,629	127,896
Supportandgovernance	costs					2025	2024
						£	£
Accountancy						1,230	1,200
Trustee insurance						227	306
Clerks’ pay and expenses						3,080	3,000
						4,537	4,506

5 Support and governance costs

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MARY BASS CHARITY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2025

6 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

7 Gains and losses on investments

	Unrestricted	Unrestricted
	funds	funds
	2025	2024
Gains/(losses) arising on:	£	£
Revaluation ofinvestments	(42,581)	85,114
Sale ofinvestments	6,115	2,407
	(36,466)	87,521

t:} Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

9 Investment property

	2025
	£
Fairvalue
At6April2024and5April2025	750,000

There has been no valuation of investment properties by an independent valuer in the year.

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MARY BASS CHARITY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2025

10 Fixed asset investments

	Listed
	investments
	£
Cost or valuation
At 6 April 2024	1,340,289
Additions	305,129
Valuation changes	(42,581)
Disposals	(280,412)
At 5 April 2025	1,322,425
Carryingamount
At05 April 2025	1,322,425
At05April2024	1,340,289

11 Debtors

11	Debtors
		2025	2024
	Amounts fallingdue within one year:	£	£
	Other debtors	18,849	12,905
12	Creditors: amounts fallingdue within oneyear
		2025	2024
		£	£
	Accrualsanddeferredincome	1,415	1,146

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MARY BASS CHARITY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED5 APRIL 2025

13. Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

	At 6 April	2024	Incoming	Resources	GainsandAt	5 April 2025
			resources	expended	losses
		£	£	£	£	£
General funds	2,229,842		208,297	(164,354)	(36,466)	2,237,319
Previousyear:	At 6 April	2023	Incoming	Resources	GainsandAt	5 April2024
			resources	expended	losses
		£	£	£	£	£
General funds	2,149,141		121,076	(127,896)	87,521	2,229,842
Analysis ofnetassets betweenfunds	funds
						Unrestricted
						funds
						2025
						£
At 5 April 2025:
Investment properties						750,000
Investments						1,322,425
Current assets/(liabilities)						164,894
						2,237,319
						Unrestricted
						funds
						2024
						£
At 5 April 2024:
Investment properties						750,000
Investments						1,340,289
Current assets/(liabilities)						139,553
						2,229,842

14 = Analysis of net assets between funds

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MARY BASS CHARITY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 5 APRIL 2025

15 Related party transactions

There were no disclosable related party transactions during the year (2024 - none).

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