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2023-12-31-accounts

Bury Unitarian Church Finance Report - 2023 Quarter 4

Funds at the end of lastyear (31/12/22) Funds at the end of lastyear (31/12/22) Funds at the end of lastyear (31/12/22) Funds at the end of lastyear (31/12/22) Funds at the end of lastyear (31/12/22) Funds at the end of lastyear (31/12/22) Funds at the end of lastyear (31/12/22) Funds at the end of lastyear (31/12/22)
Bank £25,053
Cash £85
Funds at 31/12/22 7 £25,138
Year to Date Bank Cash Total
Income year to dateYTD YTD £21,278 £400 £21,678
Expenses year to date YTD -£35,595 -£365 -£35,960
Increase/(Reduction) in fundsYTD £14,317 £35 £14,282
Funds at 31/12/23 £10,856
Bank / Cash locations:
Congregation Camera
Club		 Luncheon
club		 Men's
Fellowship		 Women's
League		 Book
Club		 Hindley
Closure		 Pam Oxley Total Funds
£10,856 £0 £0 £0 £0 £0 £0 £0 £10,856
Barclays CAF Cash Total Funds
£2,462 £8,275 £120 £10,856
End ofYear2022 funds : £25,138
2023 Change in funds -£14,281
Paid out:
Property Manager £8,073.97
Gas (Heating) £5,208.67
Electricity £1,332.72
Water £541.58
Telephone £794.53
Cleaners £1,524.09
Repairs etc. (Servicing and Maintenance) £3,801.69
GA Quota Payment £1,085.00
Organist £2,230.00
Inquirer £555.00
Send a child to Hucklow £0.00
Expenses £1,511.45
GA Expenses £466.70
PiranhaAV £6,158.40
First Aid £202.46
Donation (GA , Poppy& & Historic Chapel) £773.00
Flowers £1,045.48
Publicity £182.48
Stationery £211.33
Bank charges (£5 per month) £60.00
Heaters £23.80
Presentations £106.50
Badges £23.00
100 club repayment £48.00
Miscellaneous £0.00
Total Paid Out £35,959.85
Paid in:
Transfer from Trustees re building management £4,812.00
HMRC £1,580.73
Donations £1,525.00
Legacy £0.00
Collections £7,592.37
Quiz and other events £280.00
Traidcraft £235.50
Inquirer £481.00
Book Sales £9.50
Room Hire £4,247.00
Interest £285.21
Sunday coffee £130.00
Cash float top-up from bank £500.00
Miscellaneous (BRC Payables BACS credits) £0.00
Total Paid in: £21,678.31
2022Changeinfunds -£14,281.54

TRUSTEES OF BURY UNTARIAN CHURCH

Statement of the financial activities for the year ended 31 December 2023

INCOME
Dividends & Interest
Ground rent - St Mary's Place
Car park receipts
EXPENDITURE
Ministerial expenses
Manse expenses
Church expenses
Grants
Net income for the year
(-) net loss for the year		 Note 2023
£
£
£
£
C.I.P
Restricted UnrestrictedTotal Funds
358
19,523
34,257
54,138
2
2
14,792
14,792
358
19,523
49,051
68,932
37,563
37,563
484
484
20,617
20,617
255
255
255
37,563
21,101
58,919
103
-18,040
27,950
10,013		 2022
£
Total Funds
2
2
2		 52,931
52
14,254
67,237
34,984
759
11,534
247
47,524
19,713

TRUSTEES OF BURY UNITARIAN CHURCH

Balance Sheet as at 31 December 2023

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
Accumulated Income
General Fund
7
Ministry Fund
8
Helen Grundy Bequest for Congregation
6
Shaw/Holt
6		 2023
£
£
£
£
CIP
Restricted
Unrestricted
Total Funds
99,887
99,887
167,183
167,183
0
5,998
591,589
828,727
1,426,314
355
31,747
66,209
98,311
117
3,671
18,050
21,838
-67
-6518
-6585
6,470
626,940
1,173,538
1,806,948
680,125
680,125
663,396
663,396
4,276
4,276
1,722
1,722
493,413
493,413
-36,456
-36,456
0
0
472
472
6470
626,940
1,173,538
1,806,948		 2022
£
Total Funds
99,887
167,183
0
1,383,044
85,873
23,929
-6,252
1,753,664
666,369
633,737
4,379
1,763
465,463
-18,416
0
369
`
1,753,664

TRUSTEE OF BURY UNITARIAN CHURCH

NOTES TO THE ACCOUNTS YEAR TO 31 DECEMBER 2023

1 Accounting policies

These accounts have been prepared under the historic cost convention and in accordance with applicable accounting standards and the Statement of Recommended Practice on Accounting by Charities.

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 £31,849 and Community Charge £1,916.

Manse

The main expenditure has been on ground rent £250 and insurance £236.

Church

The main expenditure has been on Property Manager £7,488 and Insurance £3,829, Doors £6,876.

4

TRUSTEES OF BURY UNITARIAN CHURCH

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 (CONT)

3 Fixed Assets
a. 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.

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.

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.

5

TRUSTEES OF BURY UNITARIAN CHURCH

Notes to the account ended 31 December 2023

6 Restricted Funds

Ministry Funds
7 Unrestricted Funds
General Fund
7a C.I.P Funds
Helen Grundy - Congregation
Shaw/Holt		 Balance
Incoming
Expended
01.01.23
Resources
Resources
-18,416
19,523
37,563
-18,416
19,523
37,563
465,463
49,051
21,101
465,463
49,051
21,101
0
255
255
369
103
0
369
358
255		 Fund c/f
31.12.23
-36,456
-36,456
493,413
493,413
0
472
472

TRUSTEE OF BURY UNITARIAN CHURCH

Notes to the accounts for year ended 31 December 2023

8 Schedule of Investments
GENERAL FUND
Investment Trusts
6,750 25p ordinary shares Alliance Trust
7550 25p ordenary shares Foreign & Colonial Trust
9000 5p ordinary shares Law Debenture Corp
15,500 25p ordinary shares Aberdeen Std Equ
41720 Lowland Investment gbpo .025
26,150 shares Witan Invest Trust
37,000 5p ord Hendersons Income Trust
8500 Edinburgh invest trust .25p
41,486 Troy inc growth .25p
3,500 Murray Inv Trust .25p
Unit Trusts
8684.237 M & G Charifund Income Account
Water
1700 Pennon Group ord 40.7p
3400 United Utilities Group ord
British Government/Fixed Interest
18,000 4.25% Treasury Stock
1000 Caledonia ord 05p
11000 9% SR 'A' non-cum pref shares NatWest Bank
11,000 Aviva 8.75% com irred pref shares
SHAW/HOLT FUND
Unit Trusts
120 units M & G Charifund Income Fund
HELEN GRUNDY BEQUEST FOR CONGREGATION
Unit Trusts
298 units M & G Charifund Income Fund		 Original
cost or
valuation
25,660
5777
14889
43,207
35,079
12,119
60,495
50,804
32,468
42,202
40831
14,523
22,024
18,149
23,756
17,714
16,852
476,549
699
1,744		 Valuation
31.12.22
63,956
68,252
69,390
54,870
49,960
57,922
61,142
54,060
28,625
46,690
127,617
15,105
33,708
18,825
36,100
14,834
13,915
814,971
1,763
4,379		 Gain/Loss
31.12.23
11,104
4,379
2,700
-6,975
2,190
4,184
-3,237
4,165
83
-1,540
-2,999
-2,329
2,315
283
-550
-512
495
13,756
-41
-103		 Valuation
31.12.23
75,060
72,631
72,090
47,895
52,150
62,106
57,905
58,225
28,708
45,150
124,618
12,776
36,023
19,108
35,550
14,322
14,410
828,727
1,722
4,276

TRUSTEE OF BURY UNITARIAN CHURCH

Notes to the accounts for year ended 31 December 2023

8 Schedule of Investments
GENERAL FUND
Investment Trusts
6,750 25p ordinary shares Alliance Trust
7550 25p ordenary shares Foreign & Colonial Trust
9000 5p ordinary shares Law Debenture Corp
15,500 25p ordinary shares Aberdeen Std Equ
41720 Lowland Investment gbpo .025
26,150 shares Witan Invest Trust
37,000 5p ord Hendersons Income Trust
8500 Edinburgh invest trust .25p
41,486 Troy inc growth .25p
3,500 Murray Inv Trust .25p
Unit Trusts
8684.237 M & G Charifund Income Account
Water
1700 Pennon Group ord 40.7p
3400 United Utilities Group ord
British Government/Fixed Interest
18,000 4.25% Treasury Stock
1000 Caledonia ord 05p
11000 9% SR 'A' non-cum pref shares NatWest Bank
11,000 Aviva 8.75% com irred pref shares
SHAW/HOLT FUND
Unit Trusts
120 units M & G Charifund Income Fund
HELEN GRUNDY BEQUEST FOR CONGREGATION
Unit Trusts
298 units M & G Charifund Income Fund		 Original
cost or
valuation
25,660
5777
14889
43,207
35,079
12,119
60,495
50,804
32,468
42,202
40831
14,523
22,024
18,149
23,756
17,714
16,852
476,549
699
1,744		 Valuation
31.12.22
63,956
68,252
69,390
54,870
49,960
57,922
61,142
54,060
28,625
46,690
127,617
15,105
33,708
18,825
36,100
14,834
13,915
814,971
1,763
4,379		 Gain/Loss
31.12.23
11,104
4,379
2,700
-6,975
2,190
4,184
-3,237
4,165
83
-1,540
-2,999
-2,329
2,315
283
-550
-512
495
13,756
-41
-103		 Valuation
31.12.23
75,060
72,631
72,090
47,895
52,150
62,106
57,905
58,225
28,708
45,150
124,618
12,776
36,023
19,108
35,550
14,322
14,410
828,727
1,722
4,276

TRUSTEES OF BURY UNITARIAN CHURCH

Notes to the accounts for the year ended 31 December 2023

9 Movement of Investments

There were no purchases made in the year

The following investment were sold during the year

There were no sales during the year.

Transfer from Ministry to General Fund
date of
no of
transfer
shares
Edinburgh trust 4,800
31.12.23
4,800		 Valuation
32,880
10 Capital Funds
General Fund
Ministry Fund
Helen Grundy Bequest for the Congregation
Shaw/Holt Fund		 Balance
31.12.22
£
666,369
633,738
4,379
1,763
1,306,249		 Realised
Unrealised
gain(loss)
gain(loss)
£
£
13,756
29,658
-103
-41
0
43,270		 Balance
31.12.23
£
680,125
663,396
4,276
1,722
1,349,519

11 Approval of Accounts

The Statement of Financial Activities for the year ended 31 December 2023 and the Balance Sheet at that date together with the Notes to the Accounts set out on pages 4 to 9 were aaproved by the Trustees on the 3rd March 2024 and signed on their behalf.

Neville Kenyon

Chair to the Trustees

9

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 2023 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 …07.02.23………………….. Signed …K Salt………………………

10