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2021-12-31-accounts

RUSTEES OF BURY UNITARIAN CHURCH

ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2021

The Trustees present their report for the year ended 31 December 2021

The church was established on 1 January 1970 by a merger of the Unitarian congregations of Bank Street Bury, Chesham Bury and Heywood. It is governed by a Trust Deed dated 14 January 1985. The Trustees were registered as a charity with the Charity Commission on 13 December 1999, the registered number being 1078570.

The Trustees holding office during the year were:

Susan Holt Chair of Trustees & Treasurer Roy Wilkinson O Robin Ainsworth John Fitzpatrick* Resigned 1[st] March 2021 Neville Kenyon Deputy Chair of Trustees Roger Mills Property Steward Molly Ratcliffe Janet Thatcher Marian Price Margaret Pollard

*Holding Trustees

Object, Organisation and Activities

The church exists for the Worship of God and the religious, moral and intellectual development of the congregation, who may from time to time assemble therein for such purposes; provided that no regulation shall at any time be made whereby the acceptance of any creed, article or confession of faith shall be established as a condition of holding the office of Minister or of church membership.

The Trustees are an independent body working in conjunction with the church committee and the Minister. Their responsibilities include the up-keep of the church premises and the cemetery at Holebottom; the support of the ministry and the regulating and maintenance of church funds and investments.

The Church and ancillary rooms are used not only by members of the congregation but also by other groups and organisations within the local community area. Activities include meditation, book readings, music exams, workshops & musical and charity functions.

The attached financial statements show the current state of the finances which the Trustees consider to be sound.

Approved by the Trustees on 1st March 2022 and signed on their behalf by

Susan Holt Chair to the Trustees

2021 2020
£ £ £ £ £
Restricte Total Total
Note C.I.P d Unrestricted Funds Funds
INCOME
Dividends &
Interest 395 25,259 27,422 53,076 48,934
Ground rent - St
Mary's Place 48 48 48
Car park receipts 9,201 9,201 11,638
395 25,259 36,671 62,325 60,620
EXPENDITURE
Ministerial
expenses 2 32,455 32,455 31,242
Manse expenses 2 427 427 530
Church expenses 2 16,313 16,313 30,963
Grants 220 220 175
220 32,455 16,740 49,415 62,910
Net income for the
year 175 -7,196 19,931 12,910 -2,290
(-) net loss for the
year

TRUSTEES OF BURY UNITARIAN CHURCH

Balance Sheet as at 31 December 2021

Note
Fixed Assets
Church property
3.a
Manse property
3.a
Holebottom cemetery &
land (wo)
3.a
Investments
8
Current Assets
Cash at bank
Sundry debtors &
prepayments
Current Liabilities
Sundry creditors &
accruals
Net Assets
Capital Funds
General fund
10
Ministry fund
10
Helen Grundy Bequest
for Congregation
10
Shaw/Holt
10		 2021
£
£
£
£
CIP
Restricted Unrestricted Total
Funds
99,887
99,887
167,183
167,183
0
0
6,504
814,364
826,634
1,647,502
488
19,997
52,985
73,470
1,559
15,190
16,749
-220
-83
-6,079
-6,382
6,772
835,837
1,155,800
1,998,409
725,555
725,555
838,648
838,648
4,637
4,637
1,866
1,866		 2020
£
Total
Funds
99,887
167,183
0
1,469,769
55,930
14,976
-3,307
1,804,438
623,483
760,339
4,090
1,647
Accumulated Income
General Fund
7
Ministry Fund
8
Helen Grundy Bequest
for Congregation
6
Shaw/Holt
6		 430,245
430,245
-2,811
-2,811
0
0
269
269
6772
835,837
1,155,800
1,998,409		 410,314
4,385
0
180
`
1,804,438

TRUSTEE OF BURY UNITARIAN CHURCH

NOTES TO THE ACCOUNTS YEAR TO 31 DECEMBER 2021

1 Accounting policies

a. Basis of Preparation

b. Funds Structure

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by the donor.

Unrestricted funds are funds which the Trustee is free to use for any purpose in furtherance of the charitable objects.

Capital In Perpetuity funds, (C.I.P.), are funds which the Trustee cannot use the Capital sum but can use the income in accordance with specific restrictions imposed by the donor.

All incoming resources are brought into the accounts in the period when they are received.

All expenditure accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category.

e. Depreciation

Depreciation has not been provided on the Church property including furniture, fixtures & fittings and the organ, also the Manse property at 33 Ashworth Street, Bury, as it is considered that the current market value exceeds the aggregate cost to date.

The cemetery at Holebottom has been fully depreciated.

2. Expenses

Ministerial

The main expenditure has been on the Ministers stipend £28,614 and Community Charge £1,761.

Manse

The main expenditure has been on ground rent £250 and insurance of £177.

Church

The main expenditure has been on Property Manager £6,230, Fire System £4,153 and Insurance £3,498.

TRUSTEES OF BURY UNITARIAN CHURCH

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2021 (CONT)

2 Fixed Assets
f. Property £ £
Church premises at cost 84,925
Improvements to date
 5,160
90,084
Manse premises at cost 167,183
Holebottom cemetery 999
Less Depreciation 999
0
Church furniture, fixture & fittings
 5,663
Organ
 4,140
9,803
267,070

The title for the Church land and buildings and the cemetery and land at Holebottom are held in the names of the Holding Trustees and the deeds are deposited with Butcher & Barlow, 2-8 Bank Street, Bury BL9 ODL.

g. Investments

The schedule of investments is shown in Note 8 on pages 7 and 8 of these accounts. The changes in investments during the year are itemised in Note 9 on page 9.

All investments certificates are held on behalf of the Trustees by James Sharp & Co, The Exchange, 5 Bank Street, BL9 ODN.

There are no contingent liabilities.

4 Reserves Policy

A policy has been agreed by the Trustees that a balance must be held in the General Fund which will pay for two year’s expenditure for the Minister, Manse and Church upkeep. This equates to approximately £130,000.

TRUSTEES OF BURY UNITARIAN CHURCH

Notes to the accounts year ended 31 December 2021

6 Restricted Funds

Balance Incoming Expended Fund
01.01.21 Resources Resources c/f
Ministry Funds 4,385 25,260 32,455 -2,810
4,385 25,260 32,455 -2,810
7 Unrestricted Funds
General Fund 410,314 36,671 16,740 430245
410,314 36,671 16,740 430,245
7a C.I.P Funds
Helen Grundy - Congregation 0 220 220 0
Shaw/Holt 180 89 0 269
180 309 220 269

TRUSTEE OF BURY UNITARIAN CHURCH

Notes to the accounts for the year ended 31
December 2021
8 Schedule of Investments Original Valuation Gain/Loss Valuation
cost or 31.12.20 31.12.21 31.12.21
valuation
GENERAL FUND
Investment Trusts
6,750 25p ordinary shares Alliance Trust 25,660 60,818 8,842 69,660
7550 25p ordenary shares Foreign & Colonial
Trust 5777 59,419 10,494 69,913
9000 5p ordinary shares Law Debenture Corp 14889 62,100 9,810 71,910
15,500 25p ordinary shares Aberdeen Std Equ 43,207 48,990 6,190 55,180
4172 Lowland Invest Trust ord 35,079 49,959 5,528 55,487
26,150 shares Witan Invest Trust 12,119 60,276 5,622 65,898
37,000 5p ord Hendersons Income Trust 60,495 54,390 11,285 65,675
3700 Edinburgh .25p 25,055 20,202 3,034 23,236
41,486 Troy inc growth .25p 32,468 30,409 3,776 34,185
3,500 Murray Inv Trust .25p 42,202 39,186 1,274 40,460
Unit Trusts
8684.237 M & G Charifund Income Account 40831 119,197 15,947 135,144
Water
1700 Pennon Group ord 40.7p 14,523 17,372 2,467 19,839
3400 United Utilities Group ord 22,024 30,430 6,596 37,026
British Government/Fixed Interest
18,000 4.25% Treasury Stock 18,149 26,019 -2,217 23,802
1000 Caledonia ord 05p 23,756 28,800 11,900 40,700
11000 9% SR 'A' non-cum pref shares NatWest
Bank 17,714 17,683 836 18,519
433,948 725,250 101,384 826,634
SHAW/HOLT FUND
Unit Trusts
120 units M & G Charifund Income Fund 699 1,647 220 1,867

HELEN GRUNDY BEQUEST FOR CONGREGATION

Unit Trusts

298 units M & G Charifund Income Fund

4,090

4,637

1,744

547

TRUSTEES OF BURY UNITARIAN CHURCH

Notes to the accounts for the year ended 31 December
2021
8 Schedule of Investments Original Valuation Gain/Loss Valuation
cost or 31.12.20 31.12.21 31.12.21
valuation
MINISTRY FUND £ £ £ £
Preference Shares
11000 8.75% cum irred pref shares Aviva 16,852 17,490 -495 16,995
10,800 8.7/8% cum irred pref shares General Accident 16,793 16,794 -918 15,876
7000 10.25% cum pref Wadsworth & Co 9,899 10,395 0 10,395
25000 Ecclesiastical Insurance Office 8.625% pref 100p 28,470 40,125 -2,375 37,750
Water
4,000 United Utilities Group PLC ord 5p 23,137 35,800 7,760 43,560
29,000 Scottish Mortgage & Trust 8,981 352,060 35,815 387,875
828 Lowland inv co ord 25p 8,463 9,916 1,096 11,012
4,800 Edinburgh Inv Trust .25 25,749 27,912 2,232 30,144
Unit Trust
3422.42 units COIF Charity Investment Income Fund 21,817 62,341 8,050 70,391
Investment Trusts
34,000 Hendersoon High Income Trust ord 5p 27,981 49,980 10,370 60,350
11,000 Merchants ord Trust 47,080 51,061 10,429 61,490
2,500 Murray Int Trust 25p 26,405 28,973 -73 28,900
13,514 Troy income growth .25p 9,534 9,906 1,230 11,136
700 Caledonia ord .05 23,742 23,742 4,748 28,490
294,903 736,495 77,869 814,364

729,308 1,467,482 180,020 1,647,502

Totals as at 31 December 2021

TRUSTEES OF BURY UNITARIAN CHURCH

REPORT OF THE INDEPENDENT EXAMINER

TO THE TRUSTEES OF BURY UNITARIAN CHURCH

I report on the accounts of the Trustees of Bury Unitarian Church for the year ended 31 December 2021 as set out on page 1 to 9.

Respective responsibilities of Trustees and Examiner

As the Trustees, you are responsible for the preparation of accounts: you consider that the audit requirements of Section 43(2) of the Charities Act 1993 (the Act) do not apply. It is my responsibility to state, on the basis of procedures specified in the General Directions given by the Charity Commissioners under Section 47(7) (b) of the Act, whether particular matters have come to my attention.

Basis of Independent Examiner’s Report

My examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the Trustees and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from your Treasurer (acting on behalf of the Trustees) concerning such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently I do not express an audit opinion on the view given by the accounts.

Independent Examiner’s Statement

In connection with my examination no matter has come to my attention:

Date ……15.02.2022……………….. Signed …K Salt………………………

BURY UNITARIAN CHURCH

Receipts and Payments Account for the year ended 31st December 2021

PAYMENTS 2021 2020
Suhiva Trust 0 142
Donations &
Subs 286 417
Miscellaneous 1834 911
General
Assembly 1610 1625
Flowers 144 -288
Publications 300 395
Communication/
worship 2930 2232
Church Premises 7070 7228
Property
Management 6230 3340
Junior Church 0 -39
Total payments 20,404 15,963
INCOME
Giving 5301 4798
Special
Collections 0 142
Donation/
wedding/
baptism/funerals 1070 241
Inquirer 353 0
Room Hire 780 815
Interest &
Dividends 170 285
Tax reclaimed
(Gift aid) 1103 2170
Fundraising 108 1504
Trustees Property
Manager 6230 3340
Total income 15115 13295
(Deficit/Surplus) -5289 -2668
FUNDS
Congregation 26071
Women's League 163
Lunch Club 448
Camera & Book
Club 82
Men;s Fellowshi 334
Total Funds 27098
Represented by
Barclays 4416
CAF 22567
Cash 115
Funds at
31.12.21 27098

TRUSTEE CHAIRMAN’S REPORT FOR 2021

During 2021 we have met 4 times, twice on zoom in March and June and then when the Covid restrictions had been relaxed we met twice September and December in person at Church. We were sorry to receive the resignation of one of our long serving Trustees, John Fitzpatrick as he and Margaret were re-locating to be closer to their family. John always had his own opinions and he joined in all the discussions he will be missed but of course wish him all the very best for the future. Molly Ratcliffe also re-located to Penrith and Roy Wilkinson has not been present at our meeting because of ill health. I speak to them both regularly especially on agenda items that have either been dealt with or are on going and they both give me their opinions and look forward to reading the minutes after each meeting. Roy is very keen to return the attending the meetings and we can only hope that one day in the future it will happen.

As we are now using the Church every Sunday for services but are once again having problems with the front doors something which we have tried to fix for a long time but hopefully something can be sorted out in 2022. Repairs have been made to the boilers but the main work was the replacement of the fire alarm system throughout the Church and the ancillary work of wiring and retiling that had to be done.

Holebottom Cemetery has been mowed and the hedges have been trimmed in the summer months. Once again a careful watch is being maintained for any problems regarding the graves and vaults. We have paid our Minister the new stipend for the year, also the increased pensions and community charge. Her expenses for visiting members of the congregation increased during the year as the restrictions have relaxed and more visits were done.

Many of the items discussed during the year seemed to be drawn out as it seems that anything that requires altering or changing now leads to complicated and legal forms even for the smallest thing. There always seems to be lots of paperwork to go through and fill in which is very time consuming and sometimes leading to little or no results.

My thanks once again to all the Trustees for their time and input whether in the meetings, on the phone or by email, so that we were able to make decisions to keep the Church building and Holebottom Cemetery safe and in good order.

Susan Holt Chair to the Trustee’s