Keltek Trust registered no. 1154107
KT_annual_report_2024.doc
## **KELTEK TRUST - Annual Report for the year to 31[st] December 2024**
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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Keltek Trust registered no. 1154107
KT_annual_report_2024.doc
## Achievements & Performance
We received 86 new enquiries received during the year, 14 more than 2023 (72). The breakdown is:
49 enquiries to acquire bells. 28 enquiries to sell bells. 9 miscellaneous enquiries.
36 bells are in the process of being relocated bringing the total since activities started to 910. The intended destinations are:
_Betws-y-Coed, Gwynedd, St Mary:_ Ring of eight bells. _Bickley, Gtr. London, St George:_ A chiming bell. _Bristol, Southville, St Paul:_ Two replacement bells (3[rd] & 4[th] of six). _Cardiff, Private:_ Two chiming bells. _Felsham, Suffolk, St Peter:_ Treble & second of the proposed augmentation to eight. _Georgetown, CT, USA, Sacred Heart:_ Ring of eight bells.
_Haconby, Lincolnshire, St Andrew:_ Replacement tenor and treble of the proposed augmentation to six.
_Longworth, Oxfordshire, St Mary:_ Second of the proposed augmentation to eight. _Loughborough, Leicestershire, Bell Foundry Carillon:_ Two bass bells. _Misterton, Nottinghamshire, All Saints:_ Treble, second, third and replacement fourth of six. _Shilton, Oxfordshire, Holy Rood:_ Second of the proposed augmentation to six. _Stratfield Saye, Hampshire, St Mary the Virgin:_ Treble of the proposed augmentation to six. _Upminster, Gtr._ London, St Joseph: A chiming bell. _Unknown:_ A single bell to a bell-hanger.
We financed the removal of the ring of eight bells, fittings and bell-frame from Porthmadog, St John; the bells are owned by the Church in Wales and have been offered free of charge to Betws-y-Coed, St Mary.
A single bell from Southampton, St Barnabas was donated to us and our Bell Rescue Fund acquired two bells from Windsor, St John the Baptist.
The total number of bells acquired/secured using the fund increased to 557. We currently own 95 bells of which 84 are on offer and 11 in stock awaiting potential homes.
Nine projects where the Trust either assisted in locating bells or offered a grant towards the bell work have been completed. This includes 18 bells hung for full-circle ringing and a bell hung for chiming and a bell for display:
_Fornham St Martin, Suffolk, St Martin:_ The 7[th] and tenor bells of the augmentation from six to eight.
_Great Wymondley, Hertfordshire, St Mary:_ Replacement 5[th] bell. _Leicestershire, Private:_ A bell for display.
_Marshchapel, Lincolnshire, St Mary the Virgin:_ Three treble bells to augment from three to six. _Norton, Gloucestershire, St Mary:_ Replacement 4[th] bell.
_Rochdale, Gtr._ Manchester, St Chad: A ring of eight bells transferred from Glodwick, Oldham, St Mark.
_Slapton, Buckinghamshire, Holy Cross_ : A replacement bell (3[rd] of six) and a treble to augment from five to six bells.
_Upminster, Gtr. London, St Joseph (RC)_ : A chiming bell. _Westhorpe, Suffolk, St Margaret_ : Replacement 4[th] of six.
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 _._
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Keltek Trust registered no. 1154107
KT_annual_report_2024.doc
Following a gap of over two years we received a list of new Church Building Reports from Churchcare. This has indicated that the number of churches considering closure is on the increase.
## Funds held as custodian trustee on behalf of others
The charity and trustees do not act as custodian trustees.
## Financial review
The Trust spent £7,044 on acquiring bells with a further £10,780 spent on removal, transport, bell-work and storage. We received £28,361 for bells sold during the year.
Our operational costs decreased from £2,287 to £2,134 this year. An anonymous donor has covered the entire operational costs.
Investment income increased from £5,419 to £7,787 and General donations also increased from £8,330 to £12,562.
Grants & donations for the year total £41,588 and comprise of:
We paid grants totalling £8,700 to: Melksham, Wiltshire; St Cleer, Cornwall and Worcester, St Clement.
We have offered to donate bells valued at £32,888 To Betws-y-Coed; Southville, Bristol; Felsham, Suffolk; Haconby, Lincolnshire; Longworth, Oxfordshire; Misterton, Nottinghamshire; Shilton, Oxfordshire; Stratfield Saye, Hampshire.
Outstanding grants and donations total £148,202. This includes bells to the value of £111,836 and grants of £14,320 to projects where our offers have been accepted but the work has yet to be completed, and bells & grants totalling £22,046 that have been offered but not formally accepted by the respective parishes.
Over the past eight years we received five legacies totalling £519K. Our policy has been to spend the capital and are pleased to report that all the money has either been spent or allocated to projects. We have supported 92 different projects of which 62 have been completed. The level and number of future donations will significantly decrease until such time we receive more funds.
Four interest-free loans totalling £32,740 were repaid and no new loans made. At the year-end there were no outstanding interest-free loans.
At the year-end our restricted Bell Rescue Fund had assets worth £145,951 including bells to the value of £111,836 that the Trust is donating to projects but awaiting installation. A sum of £81,338 has been included in our liabilities for outstanding work on bells or acquisition of bells with a further £4,903 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 50% of the bells acquired by our _Bell Rescue Fund._
We have had another successful year and look forward to 2025 where we expect more projects to be completed.
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Keltek Trust registered no. 1154107
KT_annual_report_2024.doc
David Preston, Chairman
6[th] January 2025 For and on behalf of the Keltek Trust.
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Keltek Trust registered no. 1154107
KT_annual_accounts_2024.doc
## **Accounts for the year to 31[st] December 2024**
## 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
Transfer
4
**Net receipts for the year**
Balances at 1stJanuary 2024
**Balances at 31st December 2024**|**Unrestricted**
**Funds**
**£**
8,306
1,993
2,263
-
**12,562**
-
**-**
7,787
32,740
**40,527**
**53,089**
-
-
-
8,700
**8,700**
40
748
234
1,052
-
60
-
**2,134**
**10,834**
(32,888)
-
**9,367**
91,528
**100,895**|**Restricted**
**Funds**
**£**
-
-
-
-
**-**
28,361
**28,361**
-
-
**-**
**28,361**
7,044
-
10,780
-
**17,824**
-
-
-
-
-
-
-
**0**
**17,824**
32,888
-
**43,425**
101,719
**145,144**|**Total**
**Funds**
**£**
8,306
1,993
2,263
-
**12,562**
28,361
**28,361**
7,787
32,740
**40,527**
**81,450**
7,044
-
10,780
8,700
**26,524**
40
748
234
1,052
-
60
-
**2,134**
**28,658**
**52,792**
193,247
**246,039**|**Total**
**Funds**
**2023**
6,141
1,365
824
-|
|---|---|---|---|---|
|||||**8,330**
10,480|
|||||**10,480**
5,419
52,976|
|||||**58,395**|
|||||**77,205**
31,893
-
1,116
15,608|
|||||**48,617**
35
704
143
921
424
60
15,000|
|||||**17,287**|
|||||**65,904**
-
-|
|||||**11,301**
181,946|
|||||**193,247**|
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Keltek Trust registered no. 1154107
KT_annual_accounts_2024.doc
## **2. Statement of Assets and Liabilities on 31[st] December 2024**
|**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**
**£**
100,895
-
**100,895**
-
-
126,156
22,046
30,000
**178,202**
-
-|**Restricted**
**Funds**
**£**
145,144
-
**145,144**
81,338
4,903
-
-
-
**86,241**
145,951
**145,951**|**Total**
**Funds**
**£**
246,039
-
**246,039**
81,338
4,903
126,156
22,046
30,000
**264,443**
145,951
**145,951**|**Total**
**Funds**
**2023**
193,247
32,740|
|---|---|---|---|---|
|||||**225,987**
39,535
3,419
130,330
36,236
16,000|
|||||**225,520**
189,023|
|||||**189,023**|
## **Notes to the Financial Statements for the year ended 31[st] December 2024**
- 1 Restricted Funds: The _Bell Rescue Fund_ is a capital fund and used solely to acquire bells.
- 2a, 2b Interest-free loans totalling £32,740 have been repaid during the year: Treneglos to help with cash flow for removing the unsafe bell installation £1,000; Slapton, Buckinghamshire to help with cash flow - £4,524; St Anne’s on the Sea to help with cash flow - £15,000; Scottish Association of Change Ringers - to finance the removal of Paisley bells - £12,216. At the year-end there are no outstanding interest-free loans.
- 3 Grants and donations totalling £41,588 have been made.
- 3a Grants totalling £8,700 have been paid to the following projects: Melksham, Wiltshire £6,700; St Cleer, Cornwall £1,000; Worcester, St Clement £1,000.
- 3b Second-hand bells of value totalling £32,888 have been donated towards bell projects. Donation amounts are: Betws-y-Coed, Gwynedd £6,384*; Southville, Bristol £2,133; Felsham, Suffolk £5,544. Great Wymondley, Hertfordshire £5 (additional cost); Haconby, Lincolnshire £4,712; Longworth, Oxfordshire £1,761. Misterton, Nottinghamshire £7,324; Shilton, Oxfordshire £1,900 & Stratfield Saye, Hampshire £3,125.
- Cost of removal.
As grants and donations are made from the unrestricted _General_ fund a transfer value totalling £32,888 has been made to the _Restricted_ Bell Rescue Fund.
- 4 A Transfer from the _Bell Rescue Fund_ to the General Fund is to repay donations offered to projects that are either not proceeding or using different bells than previously offered. No transfer has been required this year.
- 5 The _Bell Rescue Fund_ is held in the same account as the _General Fund_ . On 31[st] December 2024 a total £1,934 was held in a current account; £99,105 held in deposit accounts; £145,000 in a 120-day notice account.
- 6 All four outstanding interest-free loans for bell-work (see note 2) have been repaid during the year.
- 7 The Trust has offered to purchase bells for the total sum of £81,338.
- 8 The Trust has made allowance for storage charges for some bells it owns; it is expected that some will be waived.
- 9 The total outstanding grants and donations is £148,202. This is split into donation/grants where formal acceptance has been given (9a) and donation/grants which have not yet been formally accepted (9b).
- 9a The total includes bells to the value of £111,836 and grants of £14,320 for projects where the work has yet to be completed and our grant paid.
- 9b Grants totalling £22,046 have been offered but not yet formally accepted.
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Keltek Trust registered no. 1154107
KT_annual_accounts_2024.doc
- 10 We have offered interest-free loans totalling £30,000. They are £4,000 to Bath, Twerton to help with cash flow; £16,000 to Marksbury, Somerset for a bell restoration project, £10,000 to Melksham, Wiltshire to help with cash flow.
- 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 examiner’s report on the accounts
## Section A: Independent examiner’s report
Report to the trustees/ members of
## Charity Name
## KELTEK TRUST
On accounts for the year ended Set out on pages
31st December 2024 `1 to 3.`
Charity no 1154107 (if any) (remember to include the page numbers of additional sheets)
Respective responsibilities of trustees and examiner
The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (“the Charities Act”) and that an independent examination is needed. [The charity’s gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of [named body]]. _Delete_ [ ] _if not applicable._
It is my responsibility to:
- examine the accounts under section 145 of the Charities Act,
- to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act, and
- to state whether particular matters have come to my attention.
Basis of independent examiner’s statement
My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.
Charity accounts templates – Independent examiner’s report on the accounts
October 2016
|2of3|||
|---|---|---|
|Independent|ln connection with my examination, no matter has come to my attention||
|examiner's statement|(other than that disclosed below ...{)||
||i. 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|
||proper understanding of the accounts to be reached.||
||•.'.. please delete the words in the brackets if they do not apply.||
|Signed:|\(\1 J||
||i , >J ,.- \||
|Name:|Morley Bray
`Morley Bray`||
|Relevant professional|||
|qualification(s) or body|||
|(if any):|||
|Address:|23 Chamberlain Road
`23 Chamberlain Road`||
||Chippenham, Wiltshire
`Chippenham, Wiltshire`||
||SN14 0TF
`SN14 0TF`||
|Charity accounts templates - Independent examiner's report on the accounts||October 2016|
3 of 3
## Section B: Disclosure
Only complete if the examiner needs to highlight material problems.(E.g. accounting records have not been kept in accordance with s132 of the Charities’ Act 2011 and those accounts do not comply with the requirements of the 2008 Regulations setting out the form and content of charity accounts; any material expenditure or action which appears not to be in accordance with the trusts of the charity; any failure to be provided with information and explanations by any past or present trustee, officer or employee; and any material consistency between the accounts and the trustees’ annual report.)
Give here brief details of any items that the examiner wishes to disclose.
Charity accounts templates – Independent examiner’s report on the accounts
October 2016