WILTSHIRE HISTORIC CHURCHES TRUST Reglstored Charlty Numbor 1076598 REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025
WILTSHIRE HISTORIC CHURCHES TRUST INDEXTO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 Pa 1- 4 Trustees, report Independent examinerfs report Statement of financial activities Balance sheet 8 - 12 Notes to tt)e accounts
WILTSHIRE HISTORIC CHURCHES TRUST TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2025 The Trustees present their report along with the financial statements of the charity for the year ended 31 March 2025. The financial statements have been prepared in accordance with the accounting policie5 set out on page 8 and comply with the clwity's trnst deed and applicable law. Reference and administration detsils nutnber 1075598 Princi al addr Parkside, Rectory Road Alderbury, Salisbury, SP5 3AD Trustee8'partleular8 Name Dame Sarah Troughton His Honour Mark Everall KC (Chair) Venerable Alan Jeans ati Lord-Lieutenant of Wiltshire Retired Judge Archd¢a¢on of Sarum Right Reverend Vivienne Faull Venerable Christopher Bryan Mrs E Anne Cook Bishop of Bristol Archdeacon of Malmesbury Retired Miss Ann Doyle Representative for Roman Catholic Churches Retired Historic Buildings Inspector Retired banker Neil Skelton, BEM Michael Hodges Esq Brian Woodniffe Esq Right Reverend Stephen Lake Canon Edward Buchan FCA- Finance Trustee Lecturer. photographer and author Bishop of Salisbury Retired Corporate Finance Director Reverend Graham Wamiington Commodore James Hay Luke March Esq William Hiscocks Esq Free chUh Representative Retired Naval Officer Past Chairnlan National Churches Trust Retired Investment Director Patrick Wintour Esq Retired Charity Director Trust Treasurer Jeremy Groom Robert Eggar lan Sheekey Accountancy Ltd Suite 204 Warner House Salisbury, Wiltshire, SP13TB Trust Secre Accountant
WILTSHIRE HISTORIC CHURCHES TRUST TRUSTEES, ANNUAL REPORT FOR THE YEAR EI¥DED 31 MARCH 2025 Ob'eetives and Activitie Achievements and Perfornian Review of Acttvities The Trustees have considered the Charity Commissioner's guidance on public benefit and are happy that this is being achieved through the funding of work to preserve and maintain the County's historic churches and chapels for the enjoyment of worshippers and the many who appreciate our rich heritage of ecclesiastical buildings. The Trust is heavily dependent on the efforts of its honorary officers and volunteer supporters, including the deanery representatives, who play an active part in both fundraising and management. Financial Review Income from membership fees plus Gift Aid amounted to £13.464 (2024: £12.808). Friends, events and Christmas card sales made a profIt of £6,652. The Ride & Stride fundraising event raised income of £51,058 plus Gift Aid £6,345 giving a total of £57,403. Plaques were presented to participating churches to mark the 40th anniversary of the event. The Trustees continue to encourage donations from Churches that have benefjtted from grants and this year £2,879 was gratefully received. Personal donations were received totalling £l1.481. Investments produced dividend income of £16,150. The Trust received £1,700 as its share of the concert income at Wardow Castle. Parish Book sales totall¢d £102. Investment The COIF Charities Ethical Investment Fund looks to provide regular income and long-term capital growth. This fund is unrestricted and the value of the fund as at 3 1st March 2025 stood at £411,968 (2024: £430,218). A second COIF Charities Ethical Investment Fund, holding a restricted grant made in 2018 from Hartham Church Charities Trust, had a value at 31 st March 2025 of £133,626 (2024: £139,546). Cash at bank and in hand stood at £172.996. Grant Distribution Grant applications are considered twice a year by Trustees. supported by reports from the Denomination and Deanery Representatives. After considering the cuffent sources and sustainability of income, the Trustees were pleased to award 30 grants totalling £87,487 and 2 grants totalling £1,974 to churches from the HCCT investment income. (see note 4).
WILTSHIRE HISTORIC CHURCHES TRUST TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2025 Reserves Polic The Trustees aim to maintain reserves in unrestricted funds at a level which equates to approximately two years of unrestricted charitable expenditure. The Trustees consider that this level will provide sufficient funds to respond to applicable grants and ensure that there are suificient funds available to cover support and governance costs. Unrestricted reserves held at 31 st March 2025 amount to £347,423 (2024: £361,624) Restricted reserves held at 3 1st March 2025 amount to £139,401 (2024: £143,339) Financial Review and Investment Polic The trust remains in a sound fjnancial position. The Trnstees, investment policy looks to maintain the present position in the short tern] and to look towards medium to long-tern] Owth in income and capital. Risk Review The Trustees examine the major risks to the charity and have developed systems to monitor and control thes¢ risks to mitigate the impact they may have on the Charity. Acc ntin ci The accounting policies of the Trust comply with the Statement of Recommended Pra¢ti¢¢ for Charities. The Trustses consider this to represent best accounting practice for disclosing the activities of the Trust following registration with the Charities Commission. Stru tu Governan and Mana ement Detsi on3titut' on and Ob'ectiv The Trust was founded on I l November 1954. To quote the Trust Deed: "The In4Stees shall standpossessed ofthe 3hLft Fund UPON TRUSTto apply the income and capital thereof in such a manner ay they shall in their absolute discrellon ihlnkfiifor all or any ofthe following charitable purposes namely.. thepreservation, paIr, mainlenance. improvement upkeep, beaulification and reconslruGtion ofchurches in Ffiltshire and ofmonuments, futures, stainedglass, fvrniture, ornaments and chattels in such churches, and ofthe ChUkYanl belonging to any such churches. ' The Trust Deed was amended on 29 November 2013 in respect of the duties of the Trustees and the operation of the bank account. The Trust is registered with the Charity Commission. registration number 1075598
WILTSHIRE HISTORIC HURCHES TRUST TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2025 The Trust also appoints a representative for the Free Churches and a representstive for the Roman Catholic Churches. Other appointments are made on the recommendation of the existing Trustee8 with due regard to any additiona] skills needed. Trustees Remuncration nde enses No Truste¢ received any remuneration during the year. Expenses totslling £2,240 (2024: £3,061) were reimbursed to Trustees during the year. Aecountin and re rtin nsibil. The charity TNstees are responsible for preparing a Trustee's annual r¢port and financial statements in accordance with applicable law and Unit¢d Kingdom Accounting Standards (FRS102). The law applicable to charities in England and Wale8 required the clwity Trustees to prepare financial statements for each 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 period. In preparing the financial statementy the Trustees are required to: S¢le¢t suitable accounting li¢jeS and apply them ¢onsist¢ntly Observe the methods and principles in the applible Chariti&s SORP Make judgements and estimates that are reasonable and prudent State whether applicable accountins standards have been followed, subject to any material departures disclosed and explained in the financi statements,. Prepare the financial statements on the 8oAng concern basis unless it is inappropriate to presume that the charity will continue in business. The Trustees are responsible for keeping proper accounting records that dis¢lose with reasonable ac¢uracy at any time th¢ financial w)sition of the charity and to enabl¢ them to ensure that the financial statements comply with the Charities Act 2011. the applicable Chariti¢s (Accounts and Reports) regulations, and the provisions of the Tht deed. They are also responsible for safeguarding the assets for the charity and taking reasonable precautions for the prev¢ntion and detection of fraud and other irr¢8ularities, The Trustees are responsible for the maintenance and inteIty of the charity and financial inforn]ation included on the charity's website. Legislation for the United Kingdom governing the preparation and dissemination of finan¢ial statement may differ from legislation in other jurisdictions. lo Z..and signed on its behalf by: Approved by the board ofTru$teeson.......................
ISTO IC CHU CHE TR ND NE TH TRUSTEES O WILT I report on the accounts of the trust for the year 6nded 31 March 2025, which ara set out on pages 8t012. tlva rn8 nsibilities of and examlner AS th& charitrfs tTU8tees you are responslbb for tha preparatlon of the accounts., YDU consider that the audtt requirement of 8ection 144(2) of th8 Charfties Act 2011 (lhe Charllles Acv,) do8s not apply and that an independent examinatlon Is n88ded. tt18 my respon8lblllty to: - exarnlne the accounts under section 145 of the Charltle8 Act; - to follow the proc8dur6s laid down In the Ger81 Direclions glv8n by the Charlty Comml8slon under 8éCtion 145 (5)(b) of the Chariti88 Art and - to 8tate whether partlcular matters have come to rny att8ntion. My examlnatlon waa carrt8d out in acoordance wlth the General Dlredions glv8n by the Charlty Comml8slon. An 8xaminatton irKludes a reOW of the xcounting record8 kept by the charty and compar180n of the accounts presented wlth th088 r6cord8,11 a180 Includ88 consideration ol any unusual It8m8 or di8dosureB in the account8, and seeking explanatlons from you as trust888 concemlng 8uch matt8rs. The procedure8 undertaken do not Pde all the evldence that would be required In an audi( and con8equently no opinion is glven a8 to whather the accounts present Irua and falf and the report18 Ilmlted to th060 malters Set out In the 8tatam8nt balow. In connectbn wlth my axamlnatlon, no matter has come to my attentlon: a) whkh givab ma rn88onable cause to belleve that, In any material respect the requlrements: - to keep accounting records wAhln 8eotlon 130 of the Chariii88 Act; arKI - to prepara xcounts wh¢¢h acconl the accounting record8 and comply the accountlng r8quwementB of tha CharftEes (AcGounts and Rewts) Regulatlons 2008 not been met; or b) to thICh. In my oplnlon, attentlon 8hould be drawn In order to enable a prop8r underBt8ndlng of the accounts to be reached. lan 3heekey FCA IS Accountancy Llmlted Chartered Accountant Suite 204, Wam8r Hou88 123 Castle Street Salisbury SP13TB -u ZOLS Date: IR d.
WILT HIRE HISTORIC CHURCHES TRUST STATE ENT OF FINANCIAL ACTIV R THE YEAR ENDED 1 MARCH 2025 Unrestrlcted funds Restricted Totsl fund 2025 Total funds 2024 ME AND EXPENDITURE Not•8 omin Resources Incomlng resourcos from generat funds Voluntary income.. Donations from parishes Covenants and other donations Activities for generating funds Ride and Stride Book sales Christmas cards Income fmm investments Incomlng resour¢e8 from charltsble activitl•s Friends Membership Income and Glft Ald Friends fund raising events 2,879 11,481 2,879 11,481 2,770 14,663 51,058 102 2,376 13,061 51.058 102 2,376 17,016 45,233 252 1,480 16,694 3,955 19,809 11,914 19,809 11,914 18,763 14,158 Totsl Incomlng resources 112680 3,955 116,635 114,013 80urc08 Ex Costs of gonoratlng funds Expenditure on raising funds 5,885 5,685 4,274 Charftable actfvltlo8 101,121 1.974 103,095 214,721 Other tradlng actlvltla• 1,824 1,824 1,811 Total re8our¢o8 8xndad 108 630 110604 220 806 N•t incomlng resources beforn Investment galnslllossos) 4,050 1.981 6,031 (106,793) Net galnsl(108808) on Investments Unrealised gainl{loss) on investments 7 (18,251) (5.919) (24,170) 51,651 Net movom•nt In funds (14.201) (3,938) (18,139) (55,142) Total funds brought forward 381,624 143,339 504,963 560,105 Total fvnds Carried forward 139,401 486 824 504 963 The statement of fsnancial activities includes all gains and losses in the year. All incoming resources and resources expended derive from continuing activities.
HIRE HI TO IC CHU CH TR BALAN rostrlc FIXED ASSETS Quoted Investments 411,968 133,626 545.594 $69,764 CURRENT A88ET8 Ca8h at bank and In hand 186,235 6.762 172,997 180,067 CURRENT LIABIUTIE8 Credltor8 (230,780) (987) (231,767) (244,858) NET CURRENT A8SEf81{LIABILITIE8 (64.545) 5,775 (58,770) (84,801) NET A88ETS TRUST RE8ERVE8 Unrestricted Fund8 Restrictod fund8 347,423 347.423 139401 381,824 143 339 10 139 401 347 423 The financial statements we approved by the Trustees on 2pzSand signed on their behalf by ,3 The notes on pages 8 to 12 fwm part of these fjnandal statements.
WILTSHIRE HISTORIC CHURCHES TRUST TES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 BASIS OF ACCOUNTING AND ACCOUNTING POLICIES Basis of accounting 1 These accounts have been prepared under the historical cost convention with item8 recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The accounts have been prepared in accordance with: the Statement of Recommended Practice.. Accounting and Reporting by Charities preparing their accounts in accordance with the Financtal Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and with the Charrties Act 2011. The charity constitutes a public benefit entity as defined by FRS 102. 2 These financial statements have been prepared on a going conrn basis. The Trust is dependent on the support of the members and the trustees consider that this support will continue to be available. The going concern ba8lS is therefore believed to be appropriate. The financial statements do not include any adjustments that might arise from a withdrawal of support. 3 Recognition of income These are included in the Statement of Financial Activities (SOFA) when.. the charity becomes entitled to the resources; it is more likely than not that the trustees will recei the resources. and the monetsry value can be measured wrth sufficient reliabilty. 4 Income Income from cycle ride and other voluntary income received by way of donations and gifts is included in full in the Statement of Financial ActNities when received. Membership income, including events, is recognised in the same manner. 5 Offsetting There has been no offsetting of assets and liabilities, or income and expenses, unless required or pemiitted by the FRS 102 SORP or FRS 102. 6 Grants and donations Grants and donattons are only included in the SOFA when the general income recognrtion criteria are met (5.10 to 5.12 FRS102 SORP). 7 Legacies Le9acies are included in the SOFA when receipt is probable, that is, when there has been grant of probate, the executors have established that there are sufficient assets in the estate and any conditions attached to the legacy are either within the control of the charity or have bft met. 8 Tax reclaims on donations and grfts Gift Aid receivable is included in income vrfhen there is a valid declaration from the donor. Any Gift Aid amount recovered on a donation is considered to be part of that gift and is treated as an addition to the same fund as the initial donation unless the donor or the terms of the appeal have specified othepI3e. 9 Support costs The charity has incurred expenditure on support costs. 10 Volunteer help The value of any voluntary help received is not included in the accounts but is described in the trustees, annual report. 11 Income from interest, royalties and dividends This is included in the accounts when receipt is probable and the amount receNable can be measured reliably.
LT HIRE HISTORIC CHURCHES TRUST NO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 202 BASIS OF ACCOUNTING AND ACCOUNTING POLICIES CONTINUED 12 Income from membershlp subscripkn'ons Membership subscriptions receNed in the nature of a grft are recognised in Donations and Legacies. Membership subscriptions which gives a member the right to buy services or other benefits are recognised as income earned from the provision of goods and services as income from charitable activities. 13 Investment gains and losses This includes any realised or UnalISed gains or losses on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year. 14 Liability recognition Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty. 15 Governance and support costs Support costs have been allocated betsveen governance costs and other support. Governance costs comprise all costs involving public accountabilty of the charity and its compliance with regulation and good practice. 16 Grants Grants payable are charged to the SOFA in the year when the offer is conveyed to the recipient. Where there are no conditions attaching to the grant that enables the donor charity to realistically avoid the commitment, a liabilty for the full funding obligation is recogni8ed. Should a recipient not be able to carry out the repairs or improvements for which the grant was awarded in the specified time period, the grant will lapse and be removed from the SOFA 17 Deferred income No material item of deferred income has been included in the accounts. 18 Investments Fixed asset investments in quoted shares, traded bonds and similar investments are valued initially at cost and subsequently at fair value (their market value) at the year end. 19 Restricted funds Restricted funds are to be used for specIfd purposes as laid down by the donor. Expenditure which meets these criteria is identified to the fund, together with 8 fair allocation of management and support costs. 20 Unrestricted funds Unrestricted funds are donations and other income received or generated for the charitable purposes for which the trust was set up. 21 Designated funds Designated funds are unrestricted funds eanrarf(ed by the trustees for particular purposes. 22 Expenditure Expendrture is included on an accruals basis.
WILTSHIRE HISTORIC CHURCHES TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 INCOME FROM INVESTMENTS 2025 2024 Dividends Bank and other interest receNable 16,150 15,837 857 17,016 16,694 EXPENDITURE ON RAISING FUNDS 025 2024 Printing, postage and stationery Christmas card c08ts Prizes Website development Insurance 2,240 1,312 1,449 140 1,070 1,858 140 510 io
WILTSHIRE HIST RIC CH RCHE TR NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2 GRANTS AWARDED During year grants were awarded to the following churches Grants to institutions Support costs Total St John the Baptist. Chirton St Mary, Dinton All Saints, Westbury St Nicholas, Winsley St Andrew, Ogbourno St Andrew St Catherine, Sedgehill St John, Tisbury Methodist Church. Studley St Andrew, North Swindon St Paul's Church Centre, Swindon St Paul's Church Centre, Swindon Melksham Baptist Church, Melksham St Mary the Virgin, Nettleton All Saints, Lydiard Millicent St Christopher, Dltterldge, Box St Andrew, Castle Combe St Sansom, Cricklade St James the Great, Bratton All Saints, Norton St Mary, Alderbury Holy Saviour, Erlestoke St Paul, Chippenham St John, Little Somerford St Andrew, Great Dumford St Mary, East Knoyle St James, Ludgershall St Mlchael, Coombe Bissett St Nicholas, Fyfield Church of Sacred Heart, Tisbury St Philip & St James, Neston St Francis, Salisbury st Francis, Salisbury 1,000 5,000 5,000 1,500 1,250 4,000 3,000 1.250 400 1,000 987 2,000 576 2,500 5,000 6,000 4,635 5,000 3.000 3,000 3,500 3,000 5,000 2,500 2,000 1.140 3,OCrf) 2,000 1,236 5,thJO 4,000 987 1,000 5,000 5,000 1,500 1,250 4,000 3.000 1,250 400 1,000 987 2,000 576 2,500 5,000 6,000 4,635 5,000 3,000 3,000 3,5 3,0 5.000 2,500 2,000 1,140 3,000 2,000 1,236 5,000 4,000 987 HCCT Grant HCCT Grant Total grants to institutions in reFx)rting period 89,461 89,461 Grants Canlled or lapsed {11.5(M)) (11,500) 77,961 77,961 The charlty has made grants to particular Institutlons that are material in the Context of Its grant makn'ng. Details of the institution supported, purpose of the grant and total paid to each institution is available on the charivs web srte. www.wilishirehistoricchurchestru5t.or
HIRE HISTORIC CHURCHES TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 1 MARCH 2026 nrestritted lund Restricted 2025 024 CHARITABLE ACTIVITIES Share of Ride & Stride to parishes Grants awarded (Note 41 Friends costs 20,815 75,987 4.319 20,815 77,961 4,319 21,019 184,230 9,472 1.974 101121 214721 OTHER TRADING ACTMTES Accountancy & Independent Examination Bank charges 1,824 1,824 1,800 11 QUOTED INVE8TMENT8 AT FAIR VALUE Valuation at 1 April 2024 Additional investment IDeGrea¥ellln¢rease in value during year 430,219 139,545 569,784 518,113 118,2511 15,919} (24,170) 51,651 Valuation at 31 March 2024 411968 133626 569 764 COIF Charities Ethical Inve8trn8nt Fund No of units held 138,892.19 45,051.13 CREDITORS Grants committed not yet paid Accrued charges 229,004 1,778 229,991 1,776 243,130 1,728 230 780 231787 244 858 UNRESTRICTED FUNDS 11 Gener81 fund 361,624 112,680 108,630 118,251) 347,423 108,630 10. RESTRICTED FUNDS 11 The Hartham Churth Chaiitablo Trust 143,339 3,955 1,974 15,9191 139,401 143 339 139401 12