REGISTERED CHARITY NUMBER: 1087687 ort of the Trustees and Financial Statements for the Year Ended 31 December 2023 for The St Ma s Charit Bates Weston LLP Chartered Accountants The Mills Canal Street Derby DE12RJ The St Ma 's Charit Contents of the Financial Statements for the Year Ended 31 December 2023 Page Report of the Trustees Independent Examiner's Report Statement of Financial Activities Balance Sheet Notes to the Financial Statements 8 to 11 The St Ma 's Charit ort of the Trustees for the Year Ended 31 December 2023 The trustees present their report with the financial slatemenls of the charity for the year ended 31 December 2023. The trustees have adopted the provisions of Accounting and Rèporting 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) (effeclive 1 January 20191. OBJECTIVES AND ACTIVITIES Objectives The objects of the St Mary's Charity are formalised by the will of Canon Paul Miller dated 2nd May 2000. The Gharity was brought into being by the will. The Sl Mary's Charity Trustees shall hold the Trust Fund and its income upon trust to apply them for the following objects I'the Objects,). To apply the same lo or for such charitable institution or institutions or other charitable object or objects or other charitable purpose or purposes in any part of the world which= Mainlain or promote the Catholic tradition of the Church of England or Promote the Church of England's traditional teaching in opposition to the ordination of women to the priesthood Promote the relief of poverty by the use of technology in the Third World Promote ecology or the preservation of the environment Promote the advancement of religion according to the strict interpretation of the Catholic creeds as taught by the CFiurLli of England To further the religious and other charitable work of the congregation meeting for religious worship at Ihe Chapel of St Mary on Ihe Bridge Derby To relieve in cases of financial need clergymen who have served in the Chapel of St Mary on the Bridge Derby or individuals associated with the said Chapel who wish to train for Holy Orders 2) 3) 4) 5) 71 Significant activities Our main activity is to make grants to other charities that comply with the defined objects of the charity. There has never been any shortago of suitable applicants. So far, the charity has benefitted from a bequest made to Canon Paul Miller by the estate of Miss Airmyne Harpur-crewe shortly before he died. The charity also received another substantial bequest from the same source at the beginning of 2020. Page 1 The St Ma 's Charit ort of the Trustees for the Year Ended 31 December 2023 ACHIEVEMENT AND PERFORMANCE At the meeting of the Bridge Chapel Trustees held on 7th November 2022, it was proposed and accepied that Dean Peter Robinson. Tim Smith, Roger Pegg and Joyce Sawford would continue as Trustees of The St Marls Charity for the year beginning 1st January 2023. It was agreed at the first meeting of the year of St Mary's Charity that the Dean be Chair of Ihe meetings, with Mr Tim Smith as Treasurer and Mrs Joyce Sawford as Secretsry. Three meetings were held on 28th February, 20th June and 28th November 2023. Funding requests were received both on paper and electronically during 2023 and were processed electronically by Mrs Joyce Sawford as Secretary to the Trustees. The trustees agreed at the meeting held on 28th November 2023 that a two-year gap should be left before considering further grant requests from applicants since their last grant was awarded. During the financial year ended 31st December 2023 grants totalling £28,705 were agreed and made to the following charities.. ECOLOGY Staffordshire Wildlife Trust Rainforest Foundation UK Bedfordshire, Cambridgeshire and Northamptonshire Wildlife Trusts Prickles Hedgehog Rescue Sustainable Global Gardens Fauna and Flora Intornational Sheffield and Rotherham Wildlife Trust 2000 1000 1000 500 500 500 500 THIRD WORLD Find Your Feet Turbo Ghana Makhad Porridge and Pens CBK Educating The Children TEMWA WASH Pruject AGA-ENT Renewable World Legs 4 Africa Justness Project Serendip Childrens, Home Cross Roads for Human Development AMREF 750 750 750 750 -150 500 500 500 500 500 500 500 500 500 CATHOLIC TRADITION Derby Cathedral Music Department (as part one of three year agreed grant award) Shrine of Our Lady of Walsingham 11455 3000 A further 13 charities were unsuccessful in their applications, as the trustees felt that their applications did not appear to meet the specific wording criteria of the schedule to which they work, or their application was made too early to be considered. In considering the operation. achievement, performance and finances of the charity. the trustees are satisfied that public benefit has been provided in the year in accordance with the Charities Act 2011 and the guidance published by the Charity Commission. Page 2 The St Ma 's Charit ort of the Trustees for the Year Ended 31 December 2023 FINANCIAL REVIEW Reserves Policy The Charity's principal reserves are held in CCLA investment funds as described below. The Trustees aim to derive sufficient liquid funds from the dividends accrued from these investment funds. The Sl. Mary's Charily exists simply to make grants to qualifying applicants as long as funds are available. The trustees consider that further donations to bolster the current holdings are unlikely. The trustees are confident that following the legacy left by the estate of Miss A l M Harpur-crewe in February 2020, the charity now has adequale free reserves to provide financial stability for its activities in aGcordance with its aims. Financial review After research and due diligence by the Treasurer, Mr Tim Smith, the Trustees agreed in 2021 that the additional funds received from Miss Harpur-crewe's estate were to be invested in CCLAJCOIF funds. The monies were divided £500.000 each into the Charities Investment Fund and Ihe Global Equities Investment Fund, the two funds offering different profiles of company investments. Monies are also held in the CCLAICOIF deposit fund and a Natwest current account lo fund further granl requests. The disposition of funds has been continued through 2023. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The charity is controlled by its govefning document, a deed of trust dated 2nd May 2000 and constitutes an unincorpurated charity. Appointment of trustee5 The Chairman of the Trust is the Dean of Derby. The elected trustees are appointed annually by the Trustees of the St Marys Chapel on the Bridge, Derby, a registered charity. Training and Induction of New Trustees The Charity does not consider it necessary for a formal training or induction programme for new trustees. lach new trustee is given a copy of the relevant part ol the will of the late Canon Paul Miller and attention is drawn to the objects of the Charity as defined in that document. Relevant documents received from the Charity Commission are also passed on to all trustees. Trustees investment policy The policy of the trustees is to invest in CCLA Charitable Funds which will provide a mix of assured regular income and the ability to accumulate funds in the long term as described above. Related parties The will of the late Canon Miller. which is the founding document of the Charity. states that the trustees of the St. Mary'5 Charity shall be selected from the trustees of the Chapel of St. Mary on the Bridge The only relaled party is Ihe Chapel of St. Mary on the Bridge for the reasons stated above. The two charities operate independently of each other and there have never been any transactions between them. REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 1087687 Principal address Derby Cathedral Offices 18- 19 Iron Gate Derby DE1 3GP Page 3 The St Ma 's Chayit ort of the Trustees for the Year Ended 31 December 2023 Trustees MrARPegg Very Rev Dr P J A Robinson Chairman Mrs J Samrford MrT G Smilh Independent Examiner Sean Douglass ACA Bates Weston LLP Chartered Accountants The Mills Canal Street Derby DE1 2RJ Bankers Nalional Westminster Bank PIC Derby St Peter's Slreel Derby Derbyshire DE1 1XL Solicitors Elliot Mather LLP Gervase House 111-113 Friar Gate Derby DE1 1EX Accountant Bates Weston LLP Chartered Accountants The Mills Canal Street Derby DE1 2RJ Approved by order of the board of trustees on and signed on its behalf by.. f.i A Very Rev Dr P J A Robinson Chairman - Trustee Page 4 Inde endent Examiner's Re ort to the Trustees of The St Mar 's Charit Independent examiner's report to the trustees of The St Mary's Charity I report to the charily trustees on my examination of the accounts of The St Mary's Charity {the Trust} for the year ended 31 December 2023. Responsibilities and basis of report As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act,). I report in respect of my examination of the Trust's accounts carried out LAnder Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145151(b) of the Act. Independent examlner's statement I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect.. accounting records were not kept in respect of the Trust as required by Section 130 of the Act., or the accounts do not accord with those records- or the accounts 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 Ihan any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other malters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Sean Douglass ACA Bales Weston LLP Chartered Accountants The Mills Canal Street Derby DE1 2RJ Date.. The St Ma 's Charit Statement of Financial Activities for the Year Ended 31 December 2023 2023 Unrestricted fund 2022 Total funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 89 Investment income 29,548 27,509 Total 29,548 27,598 EXPENDITURE ON Charitable activities Grant Making 29,503 27,388 Net gainslllosses) on investments 107,668 {139,473) NET INCOMEI(EXPENDITURE) 107,713 1139,263) RECONCILIATION OF FUNDS Total funds brought forward 1,011,165 1,150,428 TOTAL FUNDS CARRIED FORWARD 1,118,878 1,011,165 The notes form part of these financial statements Page 6 The St Ma 's Charit Balance Sheet 31 December 2023 2023 Unrestricted fund 2022 Total funds Notes FIXED ASSETS Investments 1,049,075 941,407 CURRENT ASSETS Debtors Cash at bank 6,823 71,504 6,823 63,670 78,327 70,493 CREDITORS Amounts falling due within one year {8,524} {735} NET CURRENT ASSETS 69,803 69,758 TOTAL ASSETS LESS CURRENT LIABILITIES 1,118,878 1,011.165 NET ASSETS 1,118,878 1,011,165 FUNDS Unrestricted funds 1,118,878 1,011,165 TOTAL FUNDS 1,118.878 1,011,165 Ihe financial staiements were approved by the Board of Trustees and authorised for issue on and were signed on its behalf by.. Very Rev Dr P J A Robinson Chairman - Trustee The notes form part of these financial statements Page 7 The St Ma 's Charit Notes to the Financial Slatements for the Year Ended 31 December 2023 ACCOUNTING POLICIES Basis of preparing the financial statements The financial statemenls of th6 charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP IFRS 1021 'Accounling and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing Iheir accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 20191,, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets. Income All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation cari be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated tu aL￿1VitieS on a ba51s corisistent with the use of resources. Fund accounting Unreslricted funds can be used in accordance with the charitable objectives at the discretion of the trustees_ Fixed asset investments Fixed asset investments are a form ot financial instrument and are initially recognised at their transaction cost, and subsequently measL*red at fair value at the balance sheel date, unless the value cannot be measured reliably in which case il is measured at cost less impairment. Investment gains and losses. whethei realised or unrealised, are coinbined and preseiiled as 'iiet gainsl(lossesl oli investments, in the statement of financial activities. INVESTMENT INCOME 2023 2022 Deposit account interest Dividend5 received 2,334 27,214 295 27,214 29,548 27,509 AUDITORS. REMUNERATION 2023 2022 Auditors, remuneration for non audit work 774 735 Page 8 conlinued... The St Ma 's Charit Notes to the Financial Statements continued for the Year Ended 31 December 2023 TRUSTEES. REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022. Trustees. 6xp6nses There were no trustees, expenses paid for the year ended 31 December 2023 nor for the year ended 31 December 2022. FIXED ASSET INVESTMENTS Listed investments MARKET VALUE At 1 January 2023 Revaluations 941,407 107,668 At 31 December 2023 1.049.075 NET BOOK VALUE At 31 December 2023 1,049,075 At 31 December 2022 941,407 There were no investment assets outside Ihe UK. Cost or valuation at 31 December 2023 is represented by.. Listed investments Valuation in 2023 1,049.075 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 2022 Accrued income 6,823 6,823 Page 9 continued... The St Ma 's Charit Notes to the Financial Statements - continued for the Year Ended 31 December 2023 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 2022 Trade creditors Other creditors 774 7,750 735 8,524 735 MOVEMENT IN FUNDS Net movement in funds At 31.12.23 At1.1.23 Unrestricted funds General fund 1,011,165 107,713 1,118,878 TOTAL FUNDS 1,011,165 107,713 1,118,878 Net movement in funds, included in the above are as follows= Incoming re50uI-ces Resources expended Gains and losses Movement in funds Unrestricted funds General fund 29,548 (29,503) 107,668 707.713 TOTAL FUNDS 29.548 129,503) 107,668 107,713 Comparatives for movement in funds Net movement in funds At 31.12.22 At 1.1.22 Unrestricted funds General fund 1,150.428 {139,263) 1,011,165 TOTAL FUNDS 1,150.428 {139.263) 1,011,165 Comparative net movement in funds. included in the above are as follows.. Incoming resources ResoLtrces expended Gains and Movemenl losses in funds Unrestricted funds General fund 27,598 (27,3881 (139,473) 1139,263) TOTAL FUNDS 27,598 (27,3881 (139,4731 1139,263) Page 10 conliriued... The St Ma 's Charit Notes to the Financial Statements - continued for the Year Ended 31 December 2023 MOVEMENT IN FUNDS - continued A current year 12 months and prior year 12 months combined position is as follows.. Net movement in funds At 31.12.23 At1.1.22 Unrestricted funds General fund 1,150,428 (31,5501 1,118,878 TOTAL FUNDS 1,150,428 131,550) 1,118,878 A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows.. Incoming resources Resources expended Gains and losses Movement in funds Unrestricted funds General fund 57,146 (56.891) 131,8051 (31,550) TOTAL FUNDS 57,146 (56,891) (31,805) {31.550) RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 31 December 2023. Page 11