Keltek Trust registered no. 1154107
KT_annual_report_2021.doc
## **KELTEK TRUST - Annual Report for the year to 31[st] December 2021**
This annual report has been prepared in accordance with the Financial Reporting Standard applicable in the UK (FRS 102) effective 1[st] January 2015.
Reference, Administrative Details, Structure, Governance & Management
The Keltek Trust is registered with the Charity Commissioners as a Charitable Incorporated Organisation and its registration number is: 1154107.
The Charity address is: The Kloof, Lower Kingsdown Rd, Kingsdown, Corsham, Wiltshire, SN13 8BG.
The trustees for the financial year are: David Preston, David Kelly and Mary Kelly. The Charity is administered by a management committee, comprising of:
Chairman - David Preston Secretary & Treasurer - David Kelly Other Members - Mary Kelly Independent Examiner - Morley Bray, 23 Chamberlain Rd, Chippenham, Wiltshire, SN14 0TF Archivist - Alan Glover, Six Bells House, Worthen, Shropshire, SY5 9HT
Trustees are elected for a term of three years and retire in rotation. The Archivist is elected for a term of one year.
## Exemptions from disclosure
There are no exemptions from disclosure.
## Objectives & Activities
Charities and Public Benefit Statement: the charitable purpose of the Keltek Trust is covered by classification ”f”, _the advancement of arts, culture, heritage or science_ as detailed in the Charities Act 2006.
The objects of the charity are:
To further the religious and other charitable works of Christian churches throughout the world through the provision of church bells and encouragement of church bell ringing and in particular:
i) To promote the re-use of surplus or redundant bells.
ii) The giving of grants for the provision of bells or bell restoration.
iii) To promote research into the sound of church bells and the methods employed in re-tuning.
iv) The provision of funding of ringing centres for the training of bellringers.
The Trust assists with the relocation and re-use of bells from closed churches and second-hand bells. It has a restricted fund known as the _Bell Rescue Fund_ whereby bells are acquired and put into storage until such time that they can be relocated. The Trust’s general fund is used to make donations to receiving organisations and to cover operating expenses.
The Trust is actively involved in research of the tonal analysis of bells to assist in locating compatible bells for augmentation schemes.
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Achievements & Performance
The Covid-19 pandemic continues to have an impact on new enquiries with 7 fewer than 2020. The detailed breakdown of the 67 new enquiries is:
14 enquiries to acquire a ring or chime of bells. 4 enquiries to sell a ring or chime of bells. 26 enquiries to acquire bells. 20 enquiries to sell individual bells. 3 miscellaneous enquiries.
Thirty-eight bells are in the process of being relocated bringing the total since activities started to 843. The intended destinations are:
_Coseley, West Midlands, Christ Church:_ Two bells for a proposed light training ring. _Darwin, NT, Australia, St Mary:_ The four tenors of the proposed ring of six. _Filby, Norfolk, All Saints:_ Treble of the proposed augmentation to six. _Hawkley, Hampshire_ , _St Peter & St Paul:_ Replacement seventh bell. _Hoxne, Suffolk, St Peter & St Paul:_ Replacement third bell of five. _Katoomba, NSW, Australia, St Canice:_ The four tenors of the proposed ring of five. _Kemberton, Shropshire, St Andrew:_ Replacement treble bell of four and treble of six. _Newton Valence, Hampshire, St Mary:_ Replacement third bell of five and treble of six. _Norton, Gloucestershire, St Mary:_ Replacement fourth bell. _Palmerston, NT, Australia, Our Lady Help of Christians:_ Four tenors of the proposed ring of six. _Rochdale, Gtr._ Manchester, St Chad: Replacement ring of eight bells. _Roehampton, Gtr. London, Holy Trinity:_ The four tenors of the proposed ring of eight. _Slapton, Buckinghamshire, Holy Cross:_ Treble of the proposed augmentation to six. _Weeton, North Yorkshire, St Barnabas:_ A small chiming bell. _Westhorpe, Suffolk, St Margaret:_ Replacement third bell of five. _Whalley, Lancashire, Abbey:_ A chiming bell.
We acquired 17 bells using our Bell Rescue Fund: A ring of eight bells from Bangor, N. Wales; Abbots Ripton (single bell); Taylor’s stock (4 bells); Twyford, Hampshire (2 bells) and two bells in private ownership. We financed the removal of, but do not own the ring of six from the closed church of St Botolph, Lincoln.
The total number of bells acquired/secured using the fund increased to 519. We currently own 104 bells of which 76 are on offer and 28 are in stock awaiting potential homes.
The number of completed bell installation/restoration projects is below our expectations mainly due to the Covid-19 pandemic delaying work on several projects. Ten projects where the Trust assisted in locating bells have been completed. This includes 20 bells hung for full-circle ringing and 3 bells hung for chiming:
_Alnwick, Northumberland, St Michael:_ Back six of the ring of ten _. Broadwell, Oxfordshire, St Peter & St Paul:_ Second and third of the ring of eight _. Calstock, Cornwall, St Andrew:_ A bell for chiming. _Dordrecht, The Netherlands, Grote Kerk:_ Four tenors of the ring of ten bells. _Hawton, Nottinghamshire, All Saints:_ Second of the augmentation to ten. _Kemberton, Shropshire, St Andrew:_ A replacement bell and a treble of the augmentation to six. _Kirkby Overblow, North Yorkshire, All Saints:_ Third bell of the augmentation from three to four. _Laxfield, Suffolk, All Saints:_ Seventh & tenor of the replacement ring of eight bells. _Nevern, Pembrokeshire, St Brynach:_ Eighth and ninth of the ring of ten and a chiming bell. _Paola, Malta, Christ the King:_ A bell for chiming.
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Quarterly issues of the _Surplus and Required Bell lists_ continue to be distributed by email to the Bellhanging trade, Diocesan Bell Advisors and interested individuals _._
## Funds held as custodian trustee on behalf of others
The charity and trustees do not act as custodian trustees.
## Financial review
The Trust spent £17,133 on acquiring bells with a further £6,242 spent on removal, transport, bell-work and storage. Payments of £5,775 have been received for bells sold during the year.
Our operational costs increased from £751 to £2,414 this year. The increase is mainly due more site visits taking place than the previous year and the replacement of our desktop PC following a hardware failure. An anonymous donor has covered the entire operational costs.
Our investment income decreased from £3,542 to £1,910. Income from legacies increased from £2,661 to £10,000 but general donations decreased from £13,623 to £7,631.
We paid grants totalling £18,568 to: Cambridge, St Clement; Lincoln, St Peter; Rochdale, St Chad and South Wraxall, Wiltshire. We have offered to donate bells valued at £46,064 to Coseley, West Midlands; Darwin, Australia; Filby, Norfolk; Hawkley, Hampshire; Hoxne, Suffolk; Katoomba, Australia; Kemberton, Shropshire; Lincoln, St Peter; Newton Valence, Hampshire; Norton, Gloucestershire; Palmerston, Australia; Roehampton, Gtr. London; Slapton, Buckinghamshire; Weeton, North Yorkshire and Westhorpe, Suffolk. The total grants & donations for the year is £64,632.
Outstanding grants and donations total £200,880 which includes bells to the value of £106,885; grants of £29,624 to projects where our offers have been accepted but the work has yet to be completed and bells & grants totalling £64,371 that have been offered but not formally accepted by the respective parishes.
Interest-free loans made by the Keltek Trust increased from £63,216 to £70,716 following a loan of £7,500 to Slapton, Buckinghamshire. The loans appear as an asset in our accounts as we expect all to be re-paid.
At the Year-end our restricted Bell Rescue Fund had assets worth £164,197 including bells to the value of £106,885 that the Trust is donating to projects but awaiting installation. A sum of £59,708 has been included in our liabilities for outstanding work on bells or acquisition of bells with a further £1,033 allocated for potential storage charges.
The level of reserves is set by the trustees and may be changed at any time depending on circumstances. The current policy is to cover the expected operational expenses for the next 12 months plus an additional 100% contingency for unexpected costs; the reserves also allow for potential donations of 50% of bells held in stock by the restricted _Bell Rescue Fund._ Our financial history shows that we have donated 44% of the bells acquired by our _Bell Rescue Fund._
In summary we have had another successful year and look forward to 2022 where we expect many more projects to be completed.
David Preston, Chairman
> 6[th] January 2022 For and on behalf of the Keltek Trust.
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Keltek Trust registered no. 1154107
KT_annual_accounts_2021.doc
## **Accounts for the year to 31[st] December 2021**
## 1. **Receipts & Payments Account**
|**Income receipts**
**Notes**
Grants and Donations
Gift Aid
Tax reclaimed
Sundry Donations
Legacies
Trading Activities
Sale of bells
1
Investment Income
Bank interest
Loan repayment (bell work)
2a
**Total Receipts**
**Direct Charitable Expenditure**
Purchase of bells (second-hand)
Deposits for second-hand bells
Removal, storage, bell-work
Bell installation/restoration
projects (grants etc)
3a
**Other Expenditure**
Data Protection Registrar
Telephone & postage
Office consumables
Travel & accommodation.
Office equipment & renewals
Bank charges
Loans for bell-work
2b
**Total Payments**
**Transfer between funds**
Grants and donations
3b
Grants and donations
3c
Transfer
4
**Net receipts for the year**
Balances at 1stJanuary 2021
**Balances at 31st December 2021**|**Unrestricted**
**Funds**
**£**
5,121
1,710
800
10,000
**17,631**
-
**-**
1,910
-
**1,910**
**19,541**
-
-
-
8,000
**8,000**
40
198
130
1,240
710
96
7,500
**9,914**
**17,914**
(10,568)
(46,064)
10,704
**(44,301)**
146,724
**102,423**|**Restricted**
**Funds**
**£**
-
-
-
-
**-**
5,775
**5,775**
-
-
**-**
**5,775**
17,133
-
6,242
-
**23,375**
-
-
-
-
-
-
-
**0**
**23,375**
10,568
46,064
(10,704)
**28,328**
93,784
**122,112**|**Total**
**Funds**
**£**
5,121
1,710
800
10,000
**17,631**
5,775
**5,775**
1,910
-
**1,910**
**25,316**
17,133
-
6,242
8,000
**31,375**
40
198
130
1,240
710
96
7,500
**9,914**
**41,289**
-
-
-
**(15,973)**
240,508
**224,535**|**Total**
**Funds**
**2020**
7,595
1,514
4,514
2,661|
|---|---|---|---|---|
|||||**16,284**
15,698|
|||||**15,698**
3,542
-|
|||||**3,542**|
|||||**35,524**
8,801
-
8,348
47,072|
|||||**64,221**
40
195
254
202
-
60
-|
|||||**751**|
|||||**64,972**
-
-
-|
|||||**(29,448)**
269,956|
|||||**240,508**|
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Keltek Trust registered no. 1154107
KT_annual_accounts_2021.doc
## **2. Statement of Assets and Liabilities at 31[st] December 2021**
|**Notes**
**Monetary Assets**
Bank Accounts
5
Outstanding loan repayment(s)
6
**Total**
**Liabilities**
Purchase of bells
7
Storage of bells
8
Outstanding grants & donations
9a
Outstanding grants & donations
which are excluded from the
annual accounts.
9b
Interest-free loan offers
10
**Total**
**Non Monetary Assets**
Bells acquired by Trust
11
**Total**|**Unrestricted**
**Funds**
**£**
102,423
70,716
**173,139**
-
-
136,509
64,371
19,110
**219,990**
-
-|**Restricted**
**Funds**
**£**
122,112
-
**122,112**
59,708
1,033
-
-
-
**60,741**
164,197
**164,197**|**Total**
**Funds**
**£**
224,535
70,716
**295,251**
59,708
1,033
136,509
64,371
19,110
**280,731**
164,197
**164,197**|**Total**
**Funds**
**2020**
240,508
63,216|
|---|---|---|---|---|
|||||**303,724**
59,700
1,240
119,761
82,421
16,000|
|||||**279,122**
193,333|
|||||**193,333**|
## **Notes to the Financial Statements for the year ended 31[st] December 2021**
- 1 Restricted Funds: The _Bell Rescue Fund_ is a capital fund and used solely to acquire bells.
- 2a, 2b No interest-free loans have been repaid during the year. An interest-free loan of £7,500 has been paid to Slapton, Buckinghamshire. Interest-free loans total £70,716: Scottish Association of Change Ringers to finance the removal of Paisley bells - £12,216; Treneglos PCC to finance the removal of four bells which were in a dangerous condition - £1,000. Stafford, St Mary to help with cash flow for the installation of Hanley bells - £50,000. Slapton, Buckinghamshire to help with cash flow - £7,500.
- 3 Grants and donations totalling £64,632 have been made.
- 3a Grants totalling £8,000 have been paid to the following projects: Cambridge, St Clement £2,000 and South Wraxall Wiltshire £6,000.
- 3b Grants totalling £10,568 have been paid to the following projects: Lincoln, St Peter £4,112 and Rochdale, Lancashire, St Chad £6,456. As grants and donations are made from the unrestricted _General_ fund a transfer value totalling £10,568 has been made to the _Restricted_ Bell Rescue Fund; this includes the sum of £6,456 to cover the removal costs of Glodwick, Oldham bells which are being donated to Rochdale, St Chad by the Manchester Diocese and £4,112 to cover the removal cost of Lincoln, St Botolph bells which are expected to be donated to Lincoln, St Peter by the Lincoln Diocese.
- 3c Second-hand bells of value totalling £46,064 have been donated towards bell projects. As grants and donations are made from the unrestricted _General_ fund a transfer value totalling £46,064 has been made to the _Restricted_ Bell Rescue Fund. Donation values are: Coseley, West Midlands £1,775; Darwin, Australia £8,647; Filby, Norfolk £1,416; Hawkley, Hampshire £2,243; Hoxne, Suffolk £3,500; Katoomba, Australia £3,394; Kemberton, Shropshire £5,019; Newton Valence, Hampshire £2,816; Norton, Gloucestershire £1,932; Palmerston, Australia £9,014; Roehampton, Gtr. London £2,045; Slapton, Buckinghamshire (additional donation) £2,300; Weeton, North Yorkshire £163 and Westhorpe, Suffolk £1,800.
- 4 A transfer of £10,704 has been made from the _Bell Rescue Fund_ to the General Fund to repay donations offered to projects that are either not proceeding or using different bells than previously offered.
- 5 The _Bell Rescue Fund_ is held in the same account as the _General Fund_ . On the 31[st] December 2021 a total £1,014 was held in a current account; £48,521 held in a deposit account, £100,000 in a 120-day notice account and £75,000 in a fixed term deposit account.
- 6 The interest-free loans for bell-work (see note 2) are included as a monetary asset as we expect the loans to be repaid.
- 7 The Trust has offered to purchase bells for the total sum of £59,708.
- 8 The Trust has made allowance for storage charges for some bells it owns; it is expected that some will be waived.
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- 9 The total outstanding grants and donations is £200,880. This is split into donation/grants where formal acceptance has been given (9a) and donation/grants which have not been formally accepted (9b).
- 9a The total includes bells to the value of £106,885 and grants of £29,624 for projects where the work has yet to be completed and our grant paid.
- 9b Grants totalling £64,371 have been offered but not yet formally accepted.
- 10 We have offered an interest-free loan of £16,000 to Marksbury, Somerset and £3,110 to Piddinghoe, East Sussex for their bell restoration projects.
- 11 Bells have been valued at the acquisition cost. The amount includes the value of bells being donated to projects (see note 9a).
## **INDEPENDENT EXAMINERS REPORT**
I have compared the above financial statements with the books, records and other information produced to me and certify them to be in accordance therewith.
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##
##
##
|Independent|ln connection with my examination, no matter has come to my|attention|
|---|---|---|
|examiner's statement|(other than that disclosed below I)||
||1. which gives me reasonable cause to believe that in, any material respect,||
||the requirements:||
||• to keep accounting records in accordance with section 130 of the||
||Charities Act; and||
||• to prepare accounts which accord with the accounting records and||
||comply with the accounting requirements of the Charities Act||
||have not been met; or||
||2. to which, .in my opinion, attention should be drawn .in order to enable a||
||F>roper understanding of the accounts to be reached.||
||•.` Please delete the words in the brackets if they do not apply.||
|Signed:|\\`/P-ou\|3. \ . |L|
|Name:|Morley Bray||
|Relevant professional|||
|qualification(s) or body|||
|(if any):|||
|Address:|23 Chamberlain Road||
||Chippenham, Wiltshire||
||SN14 0TF||