CHARITY REGISTRATION NUMBER: 1094811 Clinton's Gift Unaudited Financial Statements 31 December 2024 UHY ROSS BROOKE Chartered Accountants 16 Dorcan Business Village Murdock Road Dorcan Swindon Wiltshire SN3 SHY Clinton's Gift Financial Statements Year ended 31 December 2024 Page Trustees, annual report Independent examiner's report to the trustees Statement of financial activities Statement of financial position Notes to the financial statements The following pages do not form part of the financial statements Detailed statement of financial activities 18 Notes to the detailed statement of financial activities 19 Clinton's Gift Trustees. Annual Report Year ended 31 December 2024 The trustees have pleasure in presenting their report and the financial statements of the charity for the year ended 31 December 2024. The financial statements are unaudited but have been subject to an Independent Examination. Reference and Admlnistrative Details for the Charity, its Trustees and Advisors Trust Scheme The current governing document established- 61h June 2002. Charity Commissioner's Registration.. 1094811 Inland Revenue Reference.. XR64275 The scheme was amended on 9th December 2005 to allow provision of indemnity insurance. Trustees Ex-officio Trustees The scheme provides for four trustees to be appointed by virtue of their office held: Archdeacon of Malmesbury and Acting Archdeacon of Bristol The Venerable C A Froude Retired 18th September 2018. Position currently vacant The Reverend P J F Goodey with effect from 3rd October 2023 Mr P J Sapwell Mrs Pam Linfield ViGar of Highworth Churchwarden Churchwarden Co-opted Trustees The scheme provides for the appointment of three co-opted trustees for a four year period. During the year the co-opted trustees were.. Mr P Morris Appointed 41h February 2014 and re-elected 18th September 2018 and again 29th September 2022 Appointed 3rd July 2017 (Treasurer from 3rd July 20171 and re-elected 22 July 2022 Appointed 20th November 2020 re-elected 26 September 2024 Mr J S Bailey Mrs Bobby Bailey The Diocese of Bristol a¢ts as Custodian Trustee for the trust and in this capacity holds title to the trusts investment propety. Se¢retsry to the Trustees Julie Miles Correspondence Julie Miles Accountants UHY Ross Brooke Ltd, 16 Dorcan Business Village, Murdock Road, Dorcan, Swindon, SN3 SHY Solicitors Veale Wasbrough Vizards LLP, Narrow Quay House, Narrow Quay, Bristol BS14QA. Clinton's Gift Trustees. Annual Report (continued) Year ended 31 December 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Clinton's Gift Trust is established under a trust scheme dated 6th June 2002. The permanent endowment of the trust has been derived from the sale of land in 2001. The trustees considered the situation regarding Trustee Indemnity Insurance and were satisfied that they had identified the risks of personal liability to which they as individuals are potentially exposed, and concluded that the purchase of such insurance out of the funds of the charity will be in the best interests of the charity. A draft scheme for the Provision of Indemnity Insurance was drawn up by the Charity Commission for England and Wales and was made available for public inspection. After approval of the draft, the final scheme was again made available for public inspection. The scheme was approved on 9 December 2005. Under the powers conferred on them by section 280 of the Charities Act 2011, and with legal advice, the Trustees resolved at their meeting of 7th July 2016 to modify the provisions of the Scheme with effect from that date to enable them to manage any Conflict of Interest in the best interests of the Charity and in accordance with charity law. Meetings The trustees met in May, September and November during the year. Risk management A Risk Management Statement has been agreed by the trustees and is reviewed regularly. No unlimited guarantees to fund projects are given, all project commitments are defined in monetary terms and commitments will only be given from funds currently available for distribution. Forecasts to predict and manage future demands on resources are regularly reviewed. A financial report is made available to the trustees at each of their meetings. The full year accounts are prepared on an accruals basis and are subject to Independent Examination. Proper and appropriate professional advice is taken on all perceived areas of risk or in situations where the trustees feel they need such advice to discharge their duties. The Diocese of Bristol acts as Custodian Trustee for the investments of the trust. Procedures are in place for managing Internal Control, Complaints, Reserves Policy, and Conflict of Interest. Conflicts of interest are declared at the stsrt of each meeting by each trustee and reviewed by the other trustees against the policy. Clinton's Gift Trustees. Annual Report (conlinued) Year ended 31 December 2024 OBJECTIVES, ACTIVITIES AND PUBLIC BENEFIT The objective of the charity is to further the religious and other charitable work in the parish of Highworth by repairing and maintaining the church and, if and in so far as the income cannot be applied towards this object, the trustees may apply it in otherwise furthering the religious and other Gharitable work of the Church of England in the parish. Charity ¢lassifi¢ation is within Religious Activities, and the area of benefit and operation of the trust is local. The trustees have complied with their duty arising from Section 4 of the Charities Act 2006 and the Commission's guidance for the Advancement of Religion for the Public Benefrt. by providing the Parochial ChurGh Council (PCCI with funding for= 1) The maintenance in good order of a Grade l Listed Building which is open to the public as part of the history and culture of our community and nation. 2) The opportunty for Christian Worship by the community of Highworth through the benefit of St Michael's Church building. 3) A building for Baptisms, Weddings and Funerals for the whole community of Highworth., for community thanksgiving including Remembrance Sunday and Civic Services- and for concerts. school events, and general community events. 4) A building for personal sanctuary and prayer, 7 days a week. 5) Youth and children's work within the communty and the church. 6) Residential accommodation for a Training Curacy within the Parish and for the benefit of the community. ACHIEVEMENTS AND PERFORMANCE Due to the specific objective of the Trust. there is in effect only one client, the PCC of St Michael's and All Angels, Highworth, who have the responsibility for maintaining the church building and also for furthering the religious and other charitable work of the Church of England in the parish. The trustees have continued to support the PCC in carrying out a program of planned and emergency repair work associated with the church building since the inception of the Trust. The trustees have approved funding for work arising from the Quinquennial Review and appropriate funds are transferred to the PCC as and when the work is carried out. Funding for work agreed but still to be carried out is ring-fen¢ed within Unrestricted Reserves. The trustees have supported the major re-ordering of the church. The re-ordering has now been completed and any further requests ttr be dealt with via new resolution(sl should the need arise. The church re-ordering was approved by the Consistory Court of the DI0￿Se of Bristol in a Judgement on 12th September 2016. The trustees have also been able to continue their funding assistance to the PCC within the second objective of the Trust, providing support towards the costs of St Michael's youth work and the Parish Administrator. The Parish Administrator also acts as a secretary to Clinton's. although all costs are now met by Clinton's. As owners of the residential investment property, 14, Brookfield, the trustees utilised the services of propety agent to rent the propety commercially until February 2019 after which it remained vacant whilst undergoing substantial refurbishment so as to again be made available to the PCC Curate. The Curate was in occupation during 2022 but finished her term of office in October 2022. No decision has been made on a replacement curate following the retirement of Reverend Sowden and the property was relet in November 2023. Clinton's Gift Trustees, Annual Report f¢ontlnued) Year ended 31 December 2024 FINANCIAL REVIEW Trust Funding Trust income is primarily generated by earnings from the investment of the permanent endowment and accumulated free reserves. Income is also received from the investment property. The trust does not make public collections and no donations have been received during the period. During 2005 the trustees invested £257,389 of the permanent endowment in property at 14 Brookfield in order to expand the range of the investment portfolio. This propety has been leased to the PCC at market rates to provide accommodation for the curate, who has occupied Ihe premises throughout the year. Investments are reviewed at each trust meeting, based on the ¢urrent CCLA report. Grant Making Policies The Church Building remains in the care of the PCC, who will fomially write to the trustees ￿qUeSting funding support for appropriate projects. A Protocol Agreement is in place between the trustees and the pcc. Resenies Unrestricted Reserves at 31 Sl December 2024 were £467,975. Included in this figure are grants of £58,945 which have been agreed by the trustees and provisions totaling £43,684 to cover unforeseen maintenance expenditure and possible fluctuations in investment value and performance. This leaves a total of £365,346 surplus unrestricted reserves. Reserves Policy In order to ensure that sufficient invested reserves are available to meet existing liabilities of the trust and reasonable future expenditure requirements, the trustees of Clinton'5 Gift have reviewed the need for reserves policy, and agreed that that the following principles should be applied= 1. The policy should be reviewed and quantified at each year end, or more frequently if deemed necessary. 2. Full provision should be made for all existing commitments already sanctioned but not yet paid. 3. Provision should be made towards future short term running costs of the trust, including bookkeeping, audit, legal, insurance, secretarial support, and any other relevant expenses 4. A general provision should be made towards one yea¢s unforeseen general maintenance expenditure on the church building. 5. Provision should be made for all reasonable future building works, including those included in the Quinquennial Report 6. Because the Trust's invested reserves are subject to fluctuations in value, a general contingency provision, as a percentsge of existing commitments under items 2 to 6 above. should be made to ensure all liabilities can be met when called upon. A provision of 300/0 has been taken which reflects the decline in valuation during the 200718 economic slump. 7. Any unallocated reserves should be retained as a contingency towards potential further funding requests from the PCC Financial Statements The trustees confirm that the accounts for the period give a true and fair view of the state of affairs of the charity at the end of the year. and of the incoming and outgoing resources of the charity for the year then ended. Suitable accounting policies have been consistently applied, and any judgements and estimates included are both reasonable and prudent. The financial statements have been drawn up on a going concern basis. Clinton's Gift Trustees, Annual Report (cofttlnuedj Year ended 31 December 2024 PLANS FOR FUTURE PERIODS The trustees will continue to conserve the funds of the charity with an equal emphasis on the immediate future and the longer term, so as to have funds available for present and future needs. They will continue to expend the income arising from the endowed investments in response to requests received from the PCC or to their own perceived needs of the church and the parish. The trustees will continue to review their investments, based on regular reports from the CBF Fund Managers, CCLA, to ensure that they are best placed to produce income, without compromising the need to maintain their value for the longer term. The trustees, annual report was approved on trustees by= and signed on behalf of the board of MrJ S Bailey Trustee Clinton's Gift Independent Examiner's Report to the Trustees of Clinton's Gift Year ended 31 December 2024 I report to the trustees on my examination of the financial statements of Clinton's Gift {'the charity,) for the year ended 31 December 2024. Responsibilities and basis of report As the trustees of the charity you are responsible for the preparation of the financial ststements in accordance with the requirements of the Charities Act 2011 ('the ACV). I report in respect of my examination of the charity's financial statements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) ofthe Act. Independent examtnerfs ststement 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 charity as required by section 130 of the Act., or the financial statements do not accord with those records., or the financial statements 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 '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 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. Lisa Hobbs FCCA of UHY Ross Brooke Independent Examiner 15 06LbeT 1015 16 Dorcan Business Village Murdock Road Dorcan Swindon Wiltshire SN3 SHY Clinton's Gift Statement of Financial Activities Year ended 31 December 2024 2024 Unrestricted Endowment funds funds Total funds Total funds 2023 Note Income and endowments Investment income 20,304 91,794 91,794 112,098 112,098 99,960 Total income 20,304 99.960 Expenditure Expenditure on raising funds- Investment management costs Expenditure on charitable activities Total expenditure 4,580 26,297 4,580 26,297 30,877 3,886 18,441 30,877 22,327 Net income (10,573) 91,794 81.221 77,633 Transfers between funds 91,794 (91,794) other recognised gains and losses Gainsl(losses) on investments Net movement in funds 51,608 51,608 172.944 81,221 51.608 132.829 250,577 Reconciliation of funds Total funds brought forward Total funds carried forward 386,754 2,788,790 2,840,398 3.175,544 2,924,967 467,975 3,308,373 3,175,544 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The notes on pages 9 to 16 fomi part of these finan¢lal statements. Clinton's Gift statement of Financial Position 31 December 2024 2024 2023 Note Fixed assets Investments 13 2,840,397 2,788,789 Current assets Cash at bank and in hand 453,581 368,387 p￿payMents and accrued income 23,856 23,273 Creditors: amounts falling due within one year Accruals and deferred income 9,461 4,905 Net current assets 467,976 386,755 Total assets less current liabilities 3,308,373 3,308,373 3,175,544 Net assets 3,175,544 Funds of the charity Endowment funds Unrestricted funds 2,840,398 467,975 3,308,373 2,788,790 386,754 Total charity funds 14 3.175,544 These financial statements were approved by the board of trustees and authorised for issue on and are signed on behalf ofthe board by: Mr J S Bailey Trustee The notes on pages 9 to 16 fomi part of these financial statements. Clinton's Gift Notes to the Financial Statements Year ended 31 December 2024 General inforniation The charity is a public benefit entity and a registered charity in England and Wales and is unincorporated. The address of the principal office is St Michael's Church Office, Wi¢arage Lane. Highworth. Swindon, SN6 7AD, Wiltshire. Statement of compliance These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Stsndard applicable in the UK and the Republic of Ireland,, the 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) (Charities SORP (FRS 102)} and the Charities Act 2011. Accounting policies Basis of preparation The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure. The financial statements are prepared in sterling, which is the functional currency of the entity. Going ¢oncorn There are no material uncertainties about the charity's ability to continue. Judgements and key sources of estimation uncertainty The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expedations of future events that are believed to be reasonable under the circumstances. Key sources of estimation uncertainty Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other SoUr￿S of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows= The investment property is professionally valued every 5 years. If, on assessment of the local property market, the trustees estimate this valuation to be either excessive or inadequate then the valuation is adjusted accordingly. Clinton's Gift Notes to the Financial Statements (continued) Year ended 31 December 2024 Accounting policies (continued) Fund accounting Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment. Restricted fvnds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes.. restricted income funds or endowment funds. Incoming ￿$OUrceS All incoming resources are included in the statement of financial activities when entitlement ha5 passed to the charity., it is probable that the economic benefits associaled with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income: income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. legacy income is recognised when receipt is probable and entitlement is established. income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a Contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted. 10 Clinton's Gift Notes to the Financial Statements (continued) Year ended 31 December 2024 Accounting policies (continued) Resources expended Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates.. expenditure on raising funds includes the costs of all fundraising activities. events, non-charitable trading activities, and the sale of donated goods. expenditure on charitable activities includes all costs IncU￿ed by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the goveman¢e of the charity apportioned to ¢haritable activities. other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities. All costs are allocated to expenditure categories reflecting the use of the resource. Direct Costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned be￿een the activities they contribute to on a reasonable, justifiable and consistent basis. Investments Unlisted equity investments are initially recorded at cost, and subsequently measured at fair value. If fair value cannot be reliably measured, assets are measured at cost less impairment. Listed investments are measured at fair value with changes in fair value being recognised in income or expenditure. Investment property The investment property is recorded at cost on acquisition and, if required, restated to market value at the balance sheet date. Any surplus or deficit on revaluation is shown as a charge against Revenue in that year. Revaluations are normally carried out every five years. Impairment of fixed assets A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impaimient testing, when it is not possible to estimate the recoverable amount of an individual asset. an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units. 11 Clinton's Gift Notes to the Financial Statements (continued) Year ended 31 December 2024 Accounting policies (continuedj Financial instruments A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost. Where investments in shares are publicly traded or their fair value Can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment. Investment income Unrestricted Endowment Total Funds Funds Funds 2024 Income from investment properties Bank interest receivable CBF CofE Investment Fund income CBF CofE Property Fund income 17,400 17.400 20,304 61,227 13,167 20,304 61,227 13,167 20,304 91,794 112,098 Unrestricted Endowment Total Funds Funds Funds 2023 Income from investment properties Bank interest receivable CBF CofE Investment Fund income CBF CofE Property Fund income 12,113 12,113 14.915 60,022 12,910 99,960 14,915 60,022 12,910 14,915 85,045 Investment management costs Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Management & maintenance of investment property 4.580 4,580 3,886 3,886 12 Clinton's Gift Notes to the Financial Statements (continued) Year ended 31 December 2024 Expenditure on charitable activities by fund type Unrestricted Total Funds Unrestricted Total Fund5 Funds 2024 Funds 2023 Repair and Maintenan￿ ofthe fabric of St Michael and All Angels Church, Highworth Furthering the religious and other charitable work of the Church of England in the parish of Highworth Support costs 5,734 5,734 5,102 5,102 17,181 3,382 17,181 3.382 10,047 3,292 10,047 3,292 26,297 26,297 18,441 18,441 Expenditure on charitable activities by activity type Activities undertaken directly Support Total funds costs 2024 Total fund 2023 Repair and maintenan¢e of the fabric of St Michael and All Angels Church, Highworth Furthering the religious and other charitable work ofthe Church of England in the parish of Highworth Governance costs 5,734 5.734 5,102 17,181 17,181 3.382 10,047 3.292 3,382 3,382 22,915 26.297 18,441 Analysis of support costs Church repair and maintenance other ¢harilable work Total 2024 Total 2023 Governance costs 1,691 1,691 3,382 3,292 Independent examination fees 2024 2023 Fees payable to the independent examiner for.. Independent examination of the financial statements 1,800 1.740 10. Staff costs The total staff costs and employee benefits for the reporting period are analysed as follows.. 2024 2023 The average head count of employees during the year was Nil (2023- Nil). No employee received employee benefits of more than £60,000 during the year (2023.. Nill. 13 Clinton's Gift Notes to the Financial Statements (continued) Year ended 31 December 2024 11. Trustee remuneration and expenses No remuneration or other benefits from employment with the charity or a related entity were received by the trustees. No charity expenses have been incurred by the trustees. 12. Grant commitments At 31 De¢ember 2024 grants totalling £58,945 (2023 - £35,546) had been agreed by the trustees but had not been paid or accrued by that date. 13. Investments Cash or cash Investment equivalents properties Total Cost or valuation At 1 January 2024 Additions Other movements 2,438,789 350,000 2,788,789 51.608 51.608 At 31 December 2024 2,490,397 350,000 2,840,397 Impairment At 1 January 2024 and 31 December 2024 Carrying amount At 31 December 2024 2,490,397 350,000 350,000 2,840.397 2,788,789 At 31 December 2023 2,438,789 All investments shown above are held at valuation. Investment properties The investment property was revalued by the Trustees on 31 December 2020 in harmony with the a¢Gounting policy. Due to the COVID19 pandemic a professional valuation was not obtained but based on an assessment of ¢urrent and historic prices of similar properties in the area the trustees have valued the property at £350,000. 14 Clinton's Gift Notes to the Financial Statements (continued) Year ended 31 December 2024 14. Analysis of charitable funds Unrestricted funds Gains and At losses 31 Dec 24 At1Jan24 Income Expenditure Transfers General funds 386,754 20,304 {30,877) 91,794 467,975 Gains and At losses 31 Dec 23 At1Jan23 Income Expenditure Transfers General funds 309,121 14,915 (22,327) 85,045 386,754 Endowment funds Gains and At losses 31 Dec 24 At1Jan24 Income Expenditu Transfers Proceeds from the sale of Clinton's Field Revaluation reserve 2,688,790 91,794 (91,794) 51,608 2,740,398 100,000 100.000 2,788,790 91,794 (91,794) 51,608 2,840.398 Gains and At losses 31 Dec 23 At1Jan23 Income Expenditure Transfers Proceeds from the sale of Clinton's Field Revaluation reserve 2.515.846 85,045 (85,045) 172,944 2,688,790 100,000 2,615,846 100,000 85,045 (85,045) 172,944 2,788,790 15 Clinton's Gift Notes to the Financial Statements {continued) Year ended 31 December 2024 15. Analysis of net assets between funds Unrestricted Endowment Total Funds Funds Funds 2024 Investments Current assets Creditors less than 1 year Net assets 2,840.397 2,840,397 477,437 (9.461 3,308,373 477,437 {9,461) 467,976 2,840,397 Unrestricted Endowment Total Funds Funds Funds 2023 Investments Current assets Creditors less than 1 year Net assets 2,788,789 2,788,789 391,660 {4,905) 3,175,544 391,660 (4,905) 386,755 2,788,789 16. Related parties The objects for which the charity is set up are to provide funding for the repair and maintenance of the fabric of St Michael and all Angels Church, Highworth and, if income is not fully utilised in fulfilling this first objective, any surplus may be applied in othe￿iSe furthering the religious and other charitable work of the Church of England in the parish of Highworth. Grants paid to St Michael and all Angels Chur¢h, Highworth in the year amounted to £22,915 {2023 - £15,149). 16 Clinton's Gift Management Information Year ended 31 December 2024 The following pages do not form part of the financial statements. 17 Clinton's Gift Detailed Statement of Financial Activities Year ended 31 December 2024 2024 2023 Income and endowments Investment income Income from investment properties Bank interest receivable CBF CofE Investment Fund income CBF CofE Property Fund income 17,400 20,304 61,227 13,167 112,098 12,113 14,915 60,022 12,910 99.960 Total income 112,098 99,960 Expenditure Investment management costs Management & maintenance of investment property 4,580 3,886 Expenditure on charitsble activities Insurance Legal and professional fees Grants awarded 1,582 1,800 22,915 26,297 1,552 1,740 15,149 18,441 Totsl expendlture 30,877 22.327 Net income 81,221 77,633 18 Clinton's Gift Notes to the Detailed Statement of Financial Activities Year ended 31 December 2024 2024 2023 Expenditure on charitable activities Repair and maintenance of the fabric of St Michael and All Angels Church, Highworth Activities undertaken directly Grants made for the repair and maintenance ofthe fabric of St Michael and All Angels, Highworth 5,734 Furthering the religious and other charitable work of the Church of England in the parlsh of Highworth Activities undertaken directly Grants made for the purpose ofthe religious and other charitable work of the Church of England in the parish of Highworth Governance costs Trustees, indemnity insurance Independent examinerfs fees 5,102 17,181 10,047 1,582 1,800 3,382 1,552 1,740 3,292 Expenditure on charitable activities 26,297 18,441 19 Virtual Cabinet Portal Digital Signatures Digital Signature Verification You can verify that this is a genuine Virtual Cabinet Document Portal signed document by uploading il lo the following secure web page.. hllps.'Ilww.virlualcabinelporlal.comWerifySignedDocumenl Signature Dates and Times All dales and limes shown in the signatures below are expressed in Coordinated Universal Time IUTCI, which is geneffilly equivalent lo GMT. You can find out more about UTC al the following web page.. htlp'.Ilwww.virtualcabinelportal.comlWhallsUTC Signature 1 Signed by John Bailey using aulhenticalion code b1 Q+XHRZZEwvwqMyTg- at IP address 81.152.189.79, on 2025110115 09..41.'13 Z. John Bailey's e-mail address is.. john.bailey18@blinlernel.com.