| Page | |||
|---|---|---|---|
| Trustees' | annual report |
||
| Independent examiner's report to the trustees |
|||
| Statement | offinancial | activities | 16 |
| Statement | offinancial | position | 17 |
| Notes to the financial statements | 18 |
| Year ended 3'i | Decemb | er 2020 | ||
|---|---|---|---|---|
| Reference and administrative | details | |||
| Registered charity name |
St Mary-Le-Tower | Church | ||
| Charity registration | number | 1128976 | ||
| Principal Office: | 18Kingsfield Avenue |
|||
| Ipswich, Suffolk, |
IP1 3TA | |||
| Church Location: | Tower Street | |||
| Ipswich, Suffolk, |
IP1 3BE | |||
| Main correspondence | address | Parish Office, Tower House | ||
| 17Tower Street, | Ipswich, | Suffolk, IP1 3BE | ||
| The trustees (at the date ofapproval ofthis Report trustees at any time from 1"January 2020 until the |
and Annual Accounts —a full list ofthose who were date ofthis report is available at the end ofTrustees |
|||
| Annual Report) |
| S | tatement of Year ended |
Financial Activities 31 December 2020 |
Financial Activities 31 December 2020 |
||||
|---|---|---|---|---|---|---|---|
| 2020 | 2019 | ||||||
| Unrestricted | Restricted | Endowment | |||||
| funds | funds | funds | Total funds | Total funds | |||
| Note | F | E | |||||
| Income and endowments | |||||||
| Donations and legacies |
4 | 89,486 | 87,911 | 177,397 | 449,675 | ||
| Charitable activities |
5 | 46 | 17,780 | 17,826 | 26,743 | ||
| Other trading activities |
6 | 5,025 | 5,023 | 34,320 | |||
| Investment income |
7 | 2,146 | 24,798 | 26,945 | 16,962 | ||
| Total income | 96,703 | 130,489 | 227,191 | 527,700 | |||
| Expenditure | |||||||
| Expenditure on |
|||||||
| charitable activities |
8,9 | 120,999 | 116,732 | 237,730 | 245,722 | ||
| Total expenditure | 120,999 | 116,732 | 237,730 | 245,722 | |||
| Net gains on | |||||||
| investments | 10 | 4,929 | 36,209 | 5,397 | 46,535 | 65,184 | |
| Net income and net | |||||||
| movement in funds |
(19,367) | 49,966 | 5,397 | 35,996 | 347,162 | ||
| Reconciliation offunds |
|||||||
| Total funds brought | forward | 712,927 | 548,628 | 85,182 | 1,346,737 | 999,575 | |
| Total funds carried | forward | 693,560 | 598,594 | 90,579 | 1,382,733 | 1,346,737 |
| 31 December 20 | 20 | ||||
|---|---|---|---|---|---|
| 2020 | 2019 | ||||
| Note | |||||
| Fixed assets | |||||
| Tangible fixed assets | 14 | 553,832 | 553,832 | ||
| Investments | 15 | 723,623 | 677,088 | ||
| 1,277,455 | 1,230,920 | ||||
| Current assets | |||||
| Debtors | 16 | 1,879 | 15,898 | ||
| Investments | 17 | 45,012 | 27,823 | ||
| Cash at bank | and in | hand | 96,903 | 99,646 | |
| 143,794 | 143,367 | ||||
| Creditors: amounts | falling due within one year | 18 | 38,516 | 27,550 | |
| Net current assets | 105,278 | 115,816 | |||
| Total assets | less current liabilities | 1,382,733 | 1,346,737 | ||
| Net assets | 1,382,733 | 1,346,737 | |||
| Funds ofthe charity | |||||
| Endowment funds |
90,579 | 85,182 | |||
| Restricted funds | 598,594 | 548,628 | |||
| Unrestricted | funds | 693,560 | 712,927 | ||
| Total charfty | funds | 19 | 1,382,733 | 1,346,737 |
| Unrestricted | Restricted | Total Funds | |||
|---|---|---|---|---|---|
| Funds | Funds E |
2020 f |
|||
| Donations | |||||
| Donations | 16,802 | 14,955 | 31,757 | ||
| Planned Giving |
34,373 | 34,373 | |||
| Boxreceipts | 347 | 347 | |||
| Collections | Plate | 4,608 | 1,150 | 5,758 | |
| Planned Giving - Gift Aid |
27,734 | 27,734 | |||
| Sundry donations | 296 | 296 | |||
| Emergency | Appeal | 56,771 | 56,771 | ||
| Legacies | |||||
| Legacies | 3,000 | 3,000 | |||
| Grants | |||||
| Grants receivable | - CJRS | 2,622 | 10,489 | 13,111 | |
| Grants receivable | —other | 4,250 | 4,250 | ||
| 89,486 | 87,911 | 177,397 |
| 4. | Donations and |
legacies (continued) |
|||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2019 | |||
| E | |||||
| Donations | |||||
| Donations | 7,937 | 16,777 | 24,714 | ||
| Planned Giving |
38,251 | 38,251 | |||
| Boxreceipts | 769 | 769 | |||
| Collections Plate |
22,505 | 22,505 | |||
| Planned Giving |
—Gift Aid | 13,862 | 13,750 | 27,612 | |
| Sundry donations |
43 | 1,879 | 1,922 | ||
| Emergency Appeal |
|||||
| Legacies | |||||
| Legacies | 333,902 | 333,902 | |||
| Grants | |||||
| Grants receivable - CJRS | |||||
| Grants receivable - other | |||||
| 83,367 | 366,308 | 449,675 | |||
| 5. | Charitable activities |
||||
| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2020 | |||
| E | E | ||||
| Fees for weddings and funerals |
46 | 46 | |||
| Rental income | —17Tower Street | 17,780 | 17,780 | ||
| Utility Refunds | |||||
| 46 | 17,780 | 17,826 | |||
| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2019 | |||
| F | E | ||||
| Fees for weddings and funerals Rental income -17Tower Street |
11 | 26,709 | 11 26,709 |
||
| Utility Refunds | 23 | 23 | |||
| 34 | 26,709 | 26,743 |
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||||
|---|---|---|---|---|---|---|---|
| Funds | 2020 | Funds | 2019 | ||||
| F | F | E | |||||
| Sale of CD's | 50 | 50 | 438 | 438 | |||
| Coffee mornings | and social activities | 84 | 84 | 2,304 | 2,304 | ||
| Concerts | 4,586 | 4,586 | 18,375 | 18,375 | |||
| Christmas | Tree | Festival | 305 | 303 | 13,203 | 13,203 | |
| 5,025 | 5,023 | 34,320 | 34,320 | ||||
| 7. | Investment | income |
| Unrestricted | Restricted | Endowment | Total | Funds | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Funds | Funds | Funds | 2020 | ||||||||
| F | |||||||||||
| Rental income | - Church | House | 6,549 | 6,550 | |||||||
| Dividend | income | 2,146 | 18,249 | 20,395 | |||||||
| 2,146 | 24,798 | 26,945 | |||||||||
| Unrestricted | Restricted | Endowment | Total | Funds | |||||||
| Funds | Funds | Funds | 2019 | ||||||||
| F | |||||||||||
| Rental income | - Church | House | 4,170 | 4,170 | |||||||
| Dividend | income | 3,265 | 6,750 | 2,777 | 12,792 | ||||||
| 7,435 | 6,750 | 2,777 | 16,962 | ||||||||
| 8. | Expenditure | on charitable | activities | by fund type | |||||||
| Unrestricted | Restricted | Total | Funds | ||||||||
| Funds | Funds | 2020 | |||||||||
| F | |||||||||||
| Activity | type | 1 | 114,311 | 101,448 | 215,758 | ||||||
| Support | costs | 6,688 | 15,284 | 21,972 | |||||||
| 120,999 | 116,732 | 237,730 | |||||||||
| Unrestricted | Restricted | Total Funds | |||||||||
| Funds | Funds | 2019 | |||||||||
| E | E | ||||||||||
| Activity | type | 1 | 140,429 | 79,169 | 219,598 | ||||||
| Support | costs | 24,776 | 1,347 | 26,124 | |||||||
| 165,205 | 80,516 | 245,722 |
| 9. | Expenditure | on charitable | on charitable | on charitable | activities | activities | activities | by activity type | by activity type | by activity type | |||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Activities | |||||||||||||||
| undertaken | Total funds | Total fund | |||||||||||||
| directly Support costs | 2020 | 2019 | |||||||||||||
| F | |||||||||||||||
| Activity type | 1 | 215,758 | 215,758 | 219,598 | |||||||||||
| Support costs | 17,832 | 17,832 | 26,124 | ||||||||||||
| Governance | costs | 4,140 | 4,140 | ||||||||||||
| 215,758 | 21,972 | 237,730 | 245,722 | ||||||||||||
| 10. | Net gains on | investments | |||||||||||||
| Unrestricted | Restricted | Endowment | Total Funds | ||||||||||||
| Funds | Funds | Funds | 2020 | ||||||||||||
| F | E | E | |||||||||||||
| Gains/(losses) | on listed investments | 4,929 | 36,209 | 5,397 | 46,535 | ||||||||||
| Unrestricted | Restricted | Endowment | Total Funds | ||||||||||||
| Funds | Funds | Funds | 2019 | ||||||||||||
| E | E | ||||||||||||||
| Gains/(losses) | on listed investments | 27,747 | 30,818 | 6,618 | 65,184 | ||||||||||
| 11. | Independent | examination | fees | ||||||||||||
| 2020 | 2019 | ||||||||||||||
| Fees payable | to the independent | examiner | for: | ||||||||||||
| Independent | examination | ofthe financial statements | 990 | 972 | |||||||||||
| 12. | Staff costs | ||||||||||||||
| The total staff | costs and employee | benefits | for | the reporting period are analysed as |
follows: | ||||||||||
| 2020 | 2019 | ||||||||||||||
| Director of music, organist | &choir | assistants | 41,511 | 43,873 | |||||||||||
| Director ofdevelopment, | caretaker | &cleaner | 29,032 | 22,182 | |||||||||||
| Administrator | 8 finance | 15,284 | 18,080 | ||||||||||||
| 85,827 | 84,135 | ||||||||||||||
| The average | head | count | of employees | during | the year was 8 (2019: | 8).The average | number of | ||||||||
| full-time equivalent |
employees | during | the year | is analysed as follows: | |||||||||||
| 2020 | 2019 | ||||||||||||||
| No. | No. | ||||||||||||||
| Number ofstaff | 4 | 4 |
| Tangible fixe | d assets | |
|---|---|---|
| Freehold | ||
| property | ||
| Cost | ||
| At 1January | 2020 and 31December 2020 | 553,832 |
| Depreciation | ||
| At 1 January | 2020 and 31 December 2020 | |
| Carrying amount |
||
| At 31 December 2020 | 553,832 | |
| At 31 December 2019 | 553,832 |
| Investments | |
|---|---|
| Listed | |
| investments | |
| Cost or valuation | |
| At 1 January 2020 | 677,088 |
| Additions | |
| Revaluations | 46,535 |
| At 31 December 2020 | 723,623 |
| Impairment | |
| At. 1January 2020 and 31 December 2020 |
|
| Carrying amount |
|
| At 31December 2020 | 723,623 |
| At 31 December 2019 | 677,088 |
| All investments shown above are held at valuation. |
|---|
| Financial assets held at fair value |
| 2020 | 2019 |
|---|---|
| 1,879 | 15,898 |
| 2020 | 2019 | ||||
|---|---|---|---|---|---|
| F | |||||
| Short-term | deposits | 45,012 | 27,823 | ||
| 18. | Creditors: | amounts | falling due within one year | ||
| 2020 | 2019 | ||||
| E | |||||
| Trade creditors | 26,365 | 17,873 | |||
| Accruals and deferred | income | 9,990 | 6,775 | ||
| Social security and other taxes | 2,161 | 2,903 | |||
| 38,516 | 27,551 |
| 19. | Analysis ofcharitable | Analysis ofcharitable | funds | |||||
|---|---|---|---|---|---|---|---|---|
| Unrestricted | funds | |||||||
| At | Gains and | At | ||||||
| 1 Jan 2020 | Income | Expenditure | Transfers | losses 31 Dec 2020 | ||||
| F | E | F | ||||||
| General funds | ||||||||
| (001) | 159,095 | 96,703 | (120,999) | 4,929 | 139,728 | |||
| Church House |
||||||||
| BookValue | 370,000 | 370,000 | ||||||
| Tower House | ||||||||
| BookValue | 183,832 | 183,832 | ||||||
| 712,927 | 96,703 | (120,999) | 4,929 | 693,560 | ||||
| At | Gains and | At | ||||||
| 1 Jan 2019 | Income | Expenditure | Transfers | losses 31 Dec2019 | ||||
| E | E | F | ||||||
| General funds | ||||||||
| (001) | 42,465 | 113,711 | (146,873) | 127,754 | 22,038 | 159,095 | ||
| Church House |
||||||||
| BookValue | 370,000 | 370,000 | ||||||
| Tower House | ||||||||
| BookValue | 183,832 | 183,832 | ||||||
| 596,297 | 113,711 | (146,873) | 127,754 | 22,038 | 712,927 |
| Restricted funds | ||||||
|---|---|---|---|---|---|---|
| At | Gains and | At | ||||
| 1 Jan 2020 | Income | Expenditure | Transfers | losses 51 Dec 2020 | ||
| F | F | |||||
| Tower House | ||||||
| Project (015) | 373,316 | 33,148 | (50,566) | 23,254 | 379,152 | |
| Bells Deposit | ||||||
| (005) | 497 | 991 | 1,488 | |||
| Charity Capital | ||||||
| (006) | 17,824 | 17,824 | ||||
| Choir Scholarship | ||||||
| Capital (008) | 15,298 | (3,189) | 1,252 | 13,361 | ||
| Choir Projects | ||||||
| Deposit (009) | 941 | 5,609 | (2,200) | 4,350 | ||
| Usherwood | ||||||
| Capital (014) | 24,487 | 2,004 | 26,491 | |||
| Fabric Capital | ||||||
| (011) | 44,062 | 2,119 | (5,000) | 4,877 | 46,058 | |
| Harriet Bacon | ||||||
| Trust Deposit | ||||||
| (012) | 6,899 | 1,259 | 8,158 | |||
| Choir Memorial | ||||||
| Capital (007) | 58,927 | 70,383 | (41,511) | 4,822 | 92,621 | |
| Concerts Deposit | ||||||
| (010) | 9,200 | (5,675) | 3,525 | |||
| Church House |
||||||
| deposit (003) | 5,831 | 7,779 | (8,590) | 5,020 | ||
| Sanctuary Guild |
||||||
| Deposit (004) | 546 | 546 | ||||
| 548,628 | 138,488 | (116,731) | 36,209 | 598,594 |
| At | Gains and | At | ||||
|---|---|---|---|---|---|---|
| 1 Jan 2019 | Income | Expenditure | Transfers | losses 31 Dec2019 | ||
| F | E | |||||
| Tower House | ||||||
| Project (015) | 83,684 | 360,611 | (38,828) | (40,000) | 7,849 | 373,316 |
| Bells Deposit | ||||||
| (005) | 436 | 520 | (459) | 497 | ||
| Charity Capital | ||||||
| (006) | 17,125 | 829 | (130) | 17,824 | ||
| Choir Scholarship | ||||||
| Capital (008) | 14,973 | (2,365) | 2,690 | 15,298 | ||
| Choir Projects | ||||||
| Deposit (009) | 204 | 6,943 | (6,206) | 941 | ||
| Usherwood | ||||||
| Capital (014) | 20,757 | 3,730 | 24,487 | |||
| Fabric Capital | ||||||
| (011) | 40,320 | 11,194 | (14,697) | 7,245 | 44,062 | |
| Harriet Bacon | ||||||
| Trust Deposit | ||||||
| (012) | 6,535 | 364 | 6,899 | |||
| Choir Memorial | ||||||
| Capital (007) | 51,788 | 19,307 | (21,473) | 9,305 | 58,927 | |
| Bedwell Legacy | 87,754 | (87,754) | ||||
| Church House |
||||||
| deposit (003) | 8,695 | 11,892 | (14,756) | 5,831 | ||
| Sanctuary Guild |
||||||
| Deposit (004) | 928 | 151 | (533) | 546 | ||
| 333,379 | 411,811 | (99,447) | (127,754) | 30,819 | 548,628 |
| Year ended 31 | Year ended 31 | December | 2020 | |||||
|---|---|---|---|---|---|---|---|---|
| 19. | Analysis of | charitable | funds (continued) |
|||||
| Endowment | funds | |||||||
| At | Gains and | At | ||||||
| 1 Jan 2020 | Income | Expenditure | Transfers | losses 31 Dec 2020 | ||||
| F | F | F | E | |||||
| Harriet Bacon | ||||||||
| Trust (017) | 41,965 | 2,898 | 44,863 | |||||
| Choir Memorial | ||||||||
| Fund (016) | 7,023 | 7,023 | ||||||
| Church House | ||||||||
| Prior Memorial | ||||||||
| Trust (002) | 36,194 | 2,499 | 38,693 | |||||
| 85,182 | 5,397 | 90,579 | ||||||
| At | Gains and | At | ||||||
| 1 Jan 2019 | Income | Expenditure | Transfers | losses 31 Dec2019 | ||||
| F | E | E | E | |||||
| Harriet Bacon | ||||||||
| Trust (017) | 32,570 | 2,777 | 6,618 | 41,965 | ||||
| Choir Memorial | ||||||||
| Fund (016) | 7,023 | 7,023 | ||||||
| Church House | ||||||||
| Prior Memorial | ||||||||
| Trust (002) | 30,485 | 5,709 | 36,194 | |||||
| 70,078 | 2,777 | 12,327 | 85,182 |