REGISTERED CHARITY NUMBER: 1087687 ort of the Trustees and Financial Statements for the Year Ended 31 December 2024 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 2024 Page Report of the Trustees Independent Examiner's Report Statement of Financial Activities Balance Sheet Notes to the Financial Statements 7 to 10
The St Ma 's Charit Re ort of the Trustees for the Year Ended 31 December 2024 The trustees present Iheir report with the financial statements of the charity for the year ended 31 December 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities- Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Rep)Oi(iiiy SLdiidard apylibabie iri Lhe UK and Republic osi Ir-,and (FRQ 1021 (effeBtiv. 1 Januar, 2019) 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 charity was brought into being by the will. The St Mary's Charity Trustees shall hold the Trust Fund and its income upon trust to apply them for the following objects ('the Objects'l. To apply the same to or for such charitable institution or instilutions or other charitable object or objects or other charitable purpose or purposes in any part of the world which-. Maintain 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 stricl interpretation of the Catholic creeds as taught by the Church of England To further the religious and other charitable work of the congregation meeting for religious worship at the Chapel of St Mary on the 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) 6) 7) 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 shortage 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 bequesl from the same source at the beginning of 2020. ACHIEVEMENTS AND PERFORMANCE At the meeting of the Bridge Chapel Trustees held on 4th December 2024. it was proposed and seconded that Dean Peter Robinson, Tim Smith, Roger Pegg and Joyce Sawford would continue as Truslees of The St Marfs Charity for the year beginning 1 st January 2025. It was agreed at the first meeting of the year of The St MaS Charity th2t the Dean be Chair of the meetings for the year, with Mr Tim Smith as Treasurer and Mrs Joyce Sawford as Secretary. Three meetings were held on 11th March, 15th July and 2nd December 2024. Funding requests were received both on paper and electronically during 2024 and were processed electronically by Mrs Joyce Sawford as Secretary to the Trustees. During the financial year ended 31st December 2024 grants totalling £22,592 were agreed and made to 15 charities including the second instalmenl of a three year grant to Derby Cathedral Music Dept= A further 16 charities were unsuccessful in their applications, as the trustees felt that their applications were outside of the charity's remit, or their application was made too early to be considered again. All were contacted by email to advise them of the trustees. decisions. 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 Ihe Charities Act 2011 and the guidance published by the Charity Commission. Page 1
The St Ma 's Charit ort of the Trustees for the Year Ended 31 December 2024 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 St. Mary's Charity exists simply io mai(e graiiib to qualifying applicants as long as funds are available., The truslees 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 adequate free reserves to provide financial stability for its activities in accordance with its aims. Financial review After research and due diligence by the Treasurer, Mr Tim Smith, the Trustees agreed in 2021 thal the additional funds received from Miss Harpur-crewe's estate were to be invested in CCLWCOIF funds. The monies werp. divided £500,000 each into the Charities Investment Fund and the Global Equities Investment Fund, the two funds offering different profiles of company investments. Monies are also held in the CCLIVCOIF deposit fund and a Natwest current account to fund further grant requests. The disposition of funds has been continued through 2024. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The charity is controlled by its governing document, a deed of trust dated 2nd May 2000 and constitutes an unincorporated charity. Appointment of trustees The Chairman of the Trust is the Dean of Derby. The elected trustees are appointed annually by the Trustees of the St Mary's 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_ Each new trustee Is given a copy of tkie relevant Pdrt of the wi11 of the late Canon Paul Miller and attention 1% 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 Iu CILLUI i)ulate funds in the long tcrm a. d@8cribed 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's Charity shall be selectod from the trustees of the Chapel of St. Mary on the Bridge. The only related party is the 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 Calhedral Offices 18-191ronGate Derby DE1 3GP Page 2
The St Ma 's Charit ort of the Trustees for the Year Ended 31 December 2024 Trustees MrARPegg Very Rev Dr P J A Robinson Chairman Mrs J S2wfni'(I MrT G Smith Independent Examiner Sean Douglass ACA Bates Weston LLP Chartered AccoLtntants The Mills Canal Street Derby DE12RJ ankers National Westminster Bank PIC Derby St Peter's Street Dert)y Derbyshire DE1 1XL Solicitors Elliot Mather LLP Gervase House 111-113 Friar Gate Derby DE1 1EX Ac¢ountant Bates Weston LLP Chartered Accountants The. Mills Canal Street Derby DE12RJ Approved by oi'd¥f ul11 i¥ buoid of trustees on Very Rev r P J A Robinson Chairman - Trustee Page 3
Inde endent Examiner's Re ort to the Trustees of The St Ma 's Charit Independent examlner's report to the trustees of The St Mary's Charity I report to the charity trustees on my examination of the accounts of The St Mary's Charity (the Trust) for the year ended 31 December 2024. Responsibilities and basis of report As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with iiie i equil einents of the Chari Lies ct Q011 ('the ,4ct'l. I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carryng out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)Ib) of the Act. Independent examiner's statement I have completed my examinalion. 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: accountinq 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 than any requirement that the accounts give a Irue 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 matters 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. Sedn Douglass ACA Bates Weston LLP Chartered Accountants The Mills Canal Street Dorby DE12RJ 31 August 2025 Page 4
The St Ma 's Charit Statement of Financial Activities for the Year Ended 31 December 2024 2024 Unrestricted fund 2023 Total funds Notes INCOME AND ENDOWMENTS FROM Investment income 30,972 29,548 EXPENDITURE ON Charitable activities Grant Making 23,444 29,503 Npt gains on investments 41.399 107,668 NET INCOME 48,927 107,713 RECONCILIATION OF FUNDS Total funds brought forward 1,118,878 1,011,165 TOTAL FUNDS CARRIED FORWARD 1,167,805 1,118,878 The notes form part of these financial slatements Page 5
The St Ma 's Charit Balance Sheet 31 December 2024 2024 Unrestricted fuiid 2023 Total funds Notes FIXED ASSETS Investments 1,090,474 1,049,075 CURRE Debtors Cash at bank T ASSETS 7,061 73,622 6,823 71,504 80,683 78,327 CREDITORS Ariiuunls fcilliny due withiri one year. (3,352) 18,524} NET CURRENT ASSETS 77,331 69,803 TOTAL ASSETS LESS CURRENT LIABILITIES 1,167,805 1,118.878 NET ASSETS 1,167,805 1,118,878 FUNDS Unrestricted funds 1.167,805 1,118,878 TOTAL FUNDS 1,167.805 1.118,878 -l-he financial statements were approved by the Ljoard ot -l-rustees and authorised for Issue on and were sigiied on its behalf by. Very Rev Dr P J A Robinson Chairman - Truste The notes form part of these financi81 statements Page 6
The St Ma 's Charit Notes to the Financial Statements for the Year Ended 31 December 2024 ACCOUNTING POLICIES Basis of preparing the financial statements The financial statements of the charity, which is a public benefit entity under FRS 102, have been preparea in accoroance witn tlie Cliciritieb aORP jFRS 102 j 'ACiOntli aiid Pxeporting by clarItIeS.. 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) (effective 1 January 2019),, 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 convenlion, 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 fLinds, 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 expendilure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can 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 to activities on a basis consistent with the use of resources. Fund accounting Unrestricted funds can be used in accofdance with the charitable objectives at the discretion of the trustees. Fixed asset investments Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost, and subsequently measured at fair value at the balance sheet date, unless the value cannot be measijred reliably in which case it is measured at cost less impairment. Inveslment gains and losses, whether realised or unrealised, are combined and presented as 'net gainslllosses) on investments, in the statement of financial activities. INVESTMENT INCOME 2024 2023 Deposit aLcouril irileresl Dividends received 3,207 27,765 27,214 30.972 29,548 AUDITORS. REMUNERATION 2024 2023 Auditors, remuneration for non audit work 852 774 Page 7 continued...
The St Ma 's Charit Notes to the Financial Statements - continued for the Year Ended 31 December 2024 TRUSTEES, REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the year ended 31 December 2024 nor for the year ended 31 December 2023. Trustees. expenses There were no trustees, expenses paid for the year ended 31 December 2024 nor for the year ended 31 December 2023. FIXED ASSET INVESTMENTS Listed investments MARKET VALUE At 1 January 2024 Revaluations 1,049,075 41,399 At 31 December 2024 1,090,474 NET BOOK VALUE Al 31 December 2024 1,090,474 At 31 December 2023 1,049,075 There were no investment assets outside the UK. Cost or valuation at 31 December 2024 is represented by: Listed investments Valuation in 2024 1,090.474 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 Accrued income 7,061 6,823 Page 8 continued...
The St Ma 's Charit Notes to the Financial Statements - continued for the Year Ended 31 December 2024 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Trade creditors Othei ui ediioi S 852 ,500 774 7,750 3,352 8,524 MOVEMENT IN FUNDS Net movement in funds At 31.12.24 At1.1.24 Unrestricted funds General fund 1,118,878 48,927 1,167,805 TOTAL FUNDS 1,118,878 48,927 1,167.805 Net movement in funds. included in the above are as follows.. Incorning resources Resources expended Gains and losses Movement in funds Unrestricted funds General fund 30.972 (23,444) 41,399 48,927 TOTAL FUNDS 30,972 (23,444) 41,399 48,927 Comparatives for movement in funds Net movement in funds At At1.1.L3 Unrestricted funds General fund 1,011,165 107,713 1,118,878 TOTAL FUNDS 1,011,165 107,713 1,118.878 Comparative 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 29,548 129,503) 107,668 107,713 TOTAL FUNDS 29,548 (29,5031 107,668 107,713 Page 9 continued...
The St Ma 's Charit Notes to the Financial Statements - continued for the Year Ended 31 December 2024 MOVEMENT IN FUNDS - continued A current year 12 months and prior year 12 months combined position is as follows.. Net movement in funds At 31.12.24 At1.1.23 Unrestricted funds General fund 1,011,165 156,640 1,167,805 TOTAL FUNDS 1,011,165 156,640 1,167,805 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 60,520 (52,947) 149,067 156,640 TOTAL FUNDS 60,520 (52,9471 149,067 156,640 RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 31 December 2024. Page 10