The Friends of St Leonard’s, Flamstead (charity no – 1074485) Annual trustees’ report and accounts 31 December 2021 **Trustees** Jonathan Mark Jenkin (Chair) **(at time of reporting)** Rev Joanna Burke Carol Gibson Gregory Parsons Sarah Parsons Clare Rudd Timothy Wright **Registered address** Flintstone Cottage Chapel Road Flamstead St. Albans Hertfordshire AL3 8DD **Charity registration number** 1074485 **Website** www.friendsofstleonards.org The Friends of St Leonard’s, Flamstead 2 ## **Trustees’ Report** The trustees of the Friends of St Leonard’s, Flamstead (FoSL) present their report with the accounts of FoSL for the year ended 31 December 2021. ## **Objectives and activities** FoSL is an unincorporated body, registered with the Charity Commission. It was established by a trust deed dated 5 February 1999. The trust deed decrees that the trustees make available the funds, whether capital or income, including contributions and subscriptions from time to time in their absolute discretion for the preservation, restoration, improvement and ornamentation of the parish church of St Leonard's, Flamstead, Hertfordshire. St Leonard’s is an ancient Grade I listed church that has stood at the heart of the village of Flamstead in Hertfordshire for over 900 years. Applications for funds from the Flamstead Parochial Church Council (the PCC), which has ultimate responsibility for the maintenance of the structure and the fabric of St Leonard’s, Flamstead, are considered and decided in accordance with the provisions of the trust deed. In order to raise funds, FoSL seeks to arrange and participate in a number of fundraising activities, including the Flamstead Scarecrow Festival, Book Festival, fundraising dinners and race nights. FoSL also raises funds from membership subscriptions and donations. The trustees are of the view that through these activities a public benefit is provided and have due regard to guidance on public benefit published by the Charity Commission. ## **Achievements and performance** In 2021 FoSL’s fundraising activities were severely affected by the government-determined restrictions as a result of the COVID pandemic. The only event run in the year was the Flamathon which was run in conjunction with two other local charities. Again in 2021 we were unable to run our principal fundraising event, the Flamstead Scarecrow Festival. More positively, the major fundraising effort undertaken with the PCC continued and the repair and rectification work on St Leonard’s, partly funded by the National Lottery Heritage Fund (NLHF), was successfully completed. More information is available from the website http://www.flamsteadheritage.org/ which has been created to highlight the need and ways of helping and at the Heritage England website at https://www.historicengland.org.uk/advice/heritage-at-risk/search-register/listentry/23379 The Friends of St Leonard’s, Flamstead 3 ## **Financial review** ## _Results for the year_ The accounts are presented on an accruals basis. The charity’s incoming resources in the year totalled £282,084 (2020: £5,523). Resources expended for the charity’s purposes totalled £246,876 (2020: £92,060). This has resulted in a net surplus of incoming resources of £35,208 (2020: deficit of £86,537). During 2021, FoSL was the beneficiary of one legacy, the first tranche of which was £278,000. Amounts paid out in the year included grants to the PCC of £246,071. This amount is in accordance with the matched funding commitment made at the time of the PCC’s funding application to NLHF (see below). Additionally further loans were advanced to the PCC to fund works on the church prior to the receipt of funding. In total, £79,802 was owed by the PCC at 31 December 2021 (2020: £60,056) ## _Reserves policy and financial position_ It is the policy of the trustees to ensure that FoSL maintains maximum reserves to be able to support the needs of St Leonard’s when requested. As explained above, these needs have been very significant both in the short term and the longer term. At the time of the application by the PCC to the NLHF, FoSL committed to provide grant funding of £195,000 and a loan facility of up to £55,000 to assist the PCC in meeting the matched funding and cash flow requirements of a successful application. At 31 December 2021, the reserves represented by bank balances, debtors and creditors were £537,587 (2020: £502,378). Of these reserves, £819 (2020: £69,189) is restricted in its future use. In 2020, in consultation with the family, the trustees agreed to ring fence £200,000 of the legacy income which had been received into a separate designated fund (The Strachan Fund) to be used for the continuing regular maintenance demands of the church over future years. This fund remained in place at 31 December 2021. The Friends of St Leonard’s, Flamstead 4 ## **Post 31 December 2021 and future plans** In 2022, FoSL has continued its grant giving to assist the PCC with capital works. With the relaxation of the restrictions imposed as a result of the COVID pandemic, it has been possible to engage in several fund-raising activities including a Book Festival, Queen Elizabeth II Jubilee celebrations and the Flamstead Scarecrow Festival, the latter attracting about 4,000 visitors and raising a net in excess of £18,000. 75% of this was allocated to FoSL with the remaining 25% to other local groups and charities. In 2022, FoSL was the beneficiary of the second tranche of one legacy. At the time of writing, it is not clear how the funds will be used. The PCC is considering a number of works, including a replacement boiler, restoration of the wall paintings, renovation of the bell frame, long-overdue major work to the churchyard and cemetery (God’s Acre), and of course ongoing maintenance. In addition, it is not yet clear how much further contribution FoSL will be asked to make towards the ongoing National Lottery part-funded repair project. During 2022 and beyond, FoSL will work with the PCC to identify priorities and costs and will then be in a position to create a long-term financial plan. ## **Trustees** The following trustees served during the year ended 31 December 2021. Jonathan Mark Jenkin (Chair) Reverend Joanna Burke (appointed 3 October 2021) Carol Gibson (appointed 26 April 2021) Fiona Messent (resigned 24 May 2021) Tim Moss (resigned 10 March 2021) Gregory Parsons Sarah Parsons Clare Rudd Mark Worsey (resigned 31 December 2021) Timothy Wright (appointed 25 August 2021) As ever, we are hugely grateful for the financial support and support by way of time and ideas that are given so generously by our members and supporters. We very much look forward to drawing on that again in the rest of 2022. “Thank you.” Signed on behalf of the trustees: Jonathan Mark Jenkin Chair Date: 30 October 2022 The Friends of St Leonard’s, Flamstead 5 Independent examinerfs report on the accounts Re￿rt to the InMte•*l ' Th• Frl•nd• ol St L•on•rd'• A•m•t•ad IFOSL) On accounts for the year | 31 t)eC•m￿ 2021 , Charity no lff •ny) 1074485 S•t ¢)ut on p•g•S I reptyt to the trU￿ee# ￿ my examfinatk)n oltP* of t￿ atrthffj d￿nty f￿ the yw erthl 31 DK•rnb•r 2021. I rewt ￿ resF*d of my e¥amw*akn of tr* FOSL s XC4JJnts c¥roJ (Mrt f s¢dw)n 145 Of1￿ 2011 armj n carywvJ OLrt my exanNnallon. I S•(a￿ 1445Xbl Ad. Ind•pendent The {*￿nty'S gross exce•Jed £250,IXKI l am quaIrf￿d to I have Cryrtpleled my exanMat￿ I ccAifvm thai no material Matte￿ ha accA)unts n(* COY *rylh aFplicatl8 requirements IAt(y)unts 8rKI ReKxYtsI Regu*xYts X(J8 other Ihan any rnqwemont Ihat ￿ accxyjrts grle a and fa¢ v*w 1$ nai • m•ttor &xamin*Min to vlhth attortw￿ should te dr&¥n fft lh* r8Kyyt in gn•d: 27111Y22 Vl*Jmra Co R•lgvanl pvof•Mlon*l qu•llficaliorf•) or body (If any)- ACCA Addr•••: Marky¥e AL3 8JS The Friends of St Leonard's, Flamstead ## **The Friends of St Leonard’s, Flamstead Statement of financial activities for the year ended 31 December 2021** **----- Start of picture text -----**
Year Ended 31st December 2021 TOTAL Year Ended 31st December 2020 TOTAL
Unrestricted Designated Restricted 2021 Unrestricted Designated Restricted 2020
Funds Funds Funds Funds Funds Funds
£ £ £ £ £ £ £ £
Incoming resources
Subscriptions 2,840 - - 2,840 1,738 - - 1,738
Donations 873 - - 873 3,321 - - 3,321
Legacies 278,000 - - 278,000 - - - -
Fundraising events 338 - - 338 100 - - 100
- -
Income from investment 34 - - 34 365 - - 365
Total incoming resources 282,084 - - 282,084 5,523 - - 5,523
Resources expended
Grants made for church repairs and improvements 57,737 - 188,335 246,071 90,717 - - 90,717
Costs of fundraising events 189 - - 189 1,343 - 1,343
Other 366 - - 366 - - -
Accountancy expenses 250 - - 250
Total resources expended 58,542 - 188,335 246,876 92,060 - - 92,060
Net incoming resoures before transfers 223,543 - (188,335) 35,208 (86,537) - - (86,537)
Tranfers between funds (119,964) - 119,964 - (200,000) 200,000 - -
Net increase (decrease) in funds 103,579 - (68,370) 35,208 (286,537) 200,000 - (86,537)
Fund balances at 1 January 233,189 200,000 69,189 502,378 519,726 - 69,189 588,915
Fund balances at 31 December 336,768 200,000 819 537,587 233,189 200,000 69,189 502,378
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The Friends of St Leonard’s, Flamstead 7 ## **The Friends of St Leonard’s, Flamstead Balance sheet at 31 December 2021** **----- Start of picture text -----**
As at 31st December 2021 TOTAL As at 31st December 2020 TOTAL
Unrestricted Designated Restricted 2021 Unrestricted Designated Restricted 2020
Funds Funds Funds Funds Funds Funds
£ £ £ £ £ £ £ £
Current assets
Cash at bank and in hand
NatWest Current account 329,996 - - 329,996 25,054 - - 25,054
NatWest Reserve account 39,519 200,000 (79,802) 159,717 200,494 200,000 14,189 414,683
Paypal 546 - - 546 2,546 - - 2,546
CAF Bank - - - - 39 - - 39
370,061 200,000 (79,802) 490,259 228,133 200,000 14,189 442,322
Debtors due within one year
Loan to the PCC (819) - 80,621 79,802 5,056 - 55,000 60,056
369,242 200,000 819 570,061 233,189 200,000 69,189 502,378
Liabilities: amounts falling due within one year
Grants approved but not yet paid (32,224) - - (32,224) - - - -
Accountancy accruals (250) - - (250) - - - -
Net current assets 336,768 200,000 819 537,587 233,189 200,000 69,189 502,378
Net assets 336,768 200,000 819 537,587 233,189 200,000 69,189 502,378
Funds at 31 December 336,768 200,000 819 537,587 233,189 200,000 69,189 502,378
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Approved by the trustees on 30 October 2022 and signed on their behalf: Trustee Trustee The Friends of St Leonard’s, Flamstead 8 The Friends of St Leonard's, Flamstead Notes to the financial statements Actountlng polldes The principal accounting poliaes adopted in the preparation of these accounts were as follows: a) Ba￿5 of preparation For the first tirne, the accounts have been prepared on an ac(Tuals basis. under the historical c05t convention and in accordance with applicab￿ accounting standards and the 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 (the Charities SORP). The charity constitutes a public benefrt entity as defined by FRS 102. The accounts are presented in ￿erf1ng and are rounded to the nearest pound. b) Fund accounting Restrlcted funds comprlse monles ralsed for, or thelr use restrictsd to, a speclflc purpose, or contributions subjett to donor imposed condity"ons. Unrestrirted funds represent those monie5 whioh are freely available for application towards achieving any charitable purpose that falls within the thariivs charitable objects. Designated funds represent those monies set a￿de from unrestritted funds by the tN*ees for a 5peofic purpose. c) Income recognitlon Income is recognised in the period in which the charity has entitlement to the income, the amount of income can be measured reliably. and it is probable that the income will be received. d) Expenditure recognition Expenditure is recognised as soon as there is a legal or constructive obligation committing the charity to make a payment to a thlrd patty. It Is pmbable that a transfer of economic beneflts wlll be required in setdement and the amount of the obligation can be meagjred reliably. The Friends of St Leonard's, Flamstead