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2023-03-31-accounts

Trinity Church Buxton

Report and Accounts Year ended 31 March 2023

TRINITY CHURCH BUXTON

CHARITY INFORMATION

FOR THE YEAR ENDED 31 MARCH 2023

Trustees Rev R Marsden Senior Minister Rev D Barnsley Associate Minister Dr G Todd Church Warden P Askew (appointed October 2022) Church Warden P.Bennett (resigned July 2022) L Denno J Eastwood P Farrant Dr E Gilmour A Parker D Powell (appointed December 2022) N Reid J Tromans (resigned October 2022) Governing Document Charitable Incorporated Organisation constitution dated 9 June 2015 Charity Registration Number 1162082 Principal Address Trinity Church Hardwick Mount Buxton SK17 6PR Independent Examiner Ajay Rajani FCIE Stewardship 1 Lamb's Passage London EC1Y 8AB

Contents Page
Charity Information 1
Trustees' Annual Report 2-4
Independent Examiner's Report 5
Statement of Financial Activities 6
Balance Sheet 7
Notes to the Accounts 8-15
Detailed Statement of Financial Activities with Comparatives 16

Page 1

TRINITY CHURCH BUXTON

TRUSTEES' ANNUAL REPORT

FOR THE YEAR ENDED 31 MARCH 2023

The trustees have pleasure in submitting the Report and Accounts for the year.

Objects of the charity

The charity is a charitable incorporated organisation and is governed by its Constitution. The objects of the charity, as set out in the governing document are the advancement of the Christian faith in accordance with the episcopalian tradition and in accordance with the Protestant and Evangelical doctrine of the Church of England.

The trustees note that the Church is not a building, but a gathering of ordinary people of different ages and backgrounds, whose lives have been changed by Jesus Christ, the Son of God. The New Testament reveals the Church as a community of people, properly taught and cared for, who by loving and serving Jesus Christ, were also committed to love and care for each other and to bring a blessing to the area in which they lived. Trinity Church Buxton; its trustees and members are committed to the restoration of those New Testament principles. It is not alone in this, it is one of many Churches in the area, country and all over the world that is re-discovering the excitement of knowing Jesus Christ. The vision is to see the people of Buxton and the surrounding villages, come into this experience of knowing Jesus as their Lord, Saviour and friend.

Summary of the charity's main activities and achievements

To further the above objects and vision, the charity's main activities and achievements were as follows:

Trinity continues with Sunday morning services, a monthly Real Food evening meeting and occasional additional Sunday evening teaching services. The membership remains around 100, with a significant number of those involved in the fortnightly midweek growth groups. Some people have left in the last year, but a number of new people both young and old have joined keeping the numbers similar. During the year our senior minister Bob was ill and off work for 6 months but has now been able to return to work.

During the year our Childrens, School and Youth worker (CSYW) left to take up another role and recruitment is currently in progress to replace them. In the meanwhile various volunteers have stepped forward to keep the various activities going. Stay and Play Parent and Toddler group continues to have a long waiting list. We continue to have good relationships with a number of local schools and regularly help with assemblies and have the school children visit church. Trinity Kids and Youth are low in number currently, but creche numbers have increased.

Still Waters the dementia group continues strong, Thursday Fellowship continues and Thursday lunch has changed to Cake & Company, a drink and cake drop in to reduce the work involved and allow more time to talk to those who come.

We have during the year replaced the chairs with ones that can easily be stacked away to make the main church area much more easily used for other activities during the week, and also replaced the church bibles as a number were becoming very worn.

We had to re-quote for work on the Tower and found that post pandemic the costs of the work had increased substantially more than expected. This has meant that we have not gone ahead with the original Phase 1 work as planned but will be doing smaller remedial works to reduce water ingress into the tower later this calendar year and review how to proceed further after that.

Page 2

TRINITY CHURCH BUXTON

TRUSTEES' ANNUAL REPORT

FOR THE YEAR ENDED 31 MARCH 2023

This coming June we will be celebrating 150 years of Trinity Church and have a number of events planned as both a celebration of God’s provision for Christian witness in Buxton and a number of evangelistic events under the title Hope 150.

Most the charity's activities are undertaken by volunteers and the charity could not operate effectively without their efforts.

In planning the activities the Trustees have applied the guidance on public benefit issued by the Charity Commission.

Structure, Governance and Management

Responsibility for setting policy and for making operating decisions rests with the trustees who meet regularly to monitor the activities of the charity. Pastoral guidance is provided by the Ministers Council. New trustees are recruited and appointed by voting at the Church AGM.

Financial review

During the year unrestricted income increased by about £21,000 to £222,000 while unrestricted expenditure remained about the same as last year at £192,000 (which was partly due to our CSYW staff member leaving). This has given us an unrestricted fund surplus of £30,000 (2022: £11,000) of which £9,000 has been set aside in a designated fund for grant making as part of our Mission Beyond Buxton initiative. From our unrestricted general funds we transferred £10,000 to our restricted Tower fund and our unrestricted general funds (which excludes the designated Mission Beyond Buxton fund) have therefore increased by £11,000 to £91,000. This comprised fixed assets with a carrying value of £12,000 (new chairs), cash of £67,000 and other net current assets of £12,000 (the largest item being a debtor for gift aid).

Restricted income was almost unchanged at £50,000 and most of this was received for our Tower project. During the year we began to spend some money on the Tower project and restricted expenditure increased by £15,000 to £20,000. This left us a surplus of £30,000 on restricted funds. To this was added the £10,000 transferred from unrestricted funds and restricted funds have therefore increased by £40,000 to £105,000. This comprised cash of £98,000 and a debtor of £7,000 for gift aid.

Reserves policy

The trustees have determined that the charity should aim to hold unrestricted cash of no less than £39,000 (which equates to about 3 months' of unrestricted essential expenditure) so that the charity could continue to operate should income and / or expenditure vary adversely. At the year end, the charity held unrestricted cash of £76,325 and the charity is complying with its reserves policy.

Key risks and uncertainties

The charity is exposed to various risks - be they operational, financial or reputational. The trustees review the charity's activities regularly to identify significant risks and, where possible, they take appropriate measures to mitigate those risks.

Page 3

TRINITY CHURCH BUXTON

TRUSTEES' ANNUAL REPORT

FOR THE YEAR ENDED 31 MARCH 2023

Responsibilities of trustees under charity law

The trustees are responsible for preparing the trustees' annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Charity law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of the affairs of the charity as at the balance sheet date and of its incoming resources and application of resources, including income and expenditure, for the financial year. In preparing these financial statements, the trustees are required to:

  1. select suitable accounting policies and apply them consistently;

  2. observe the methods and principles in the Charities SORP;

  3. make judgements and estimates that are reasonable and prudent;

  4. state whether the applicable accounting standards have been followed, subject to any material

departures disclosed and explained in the financial statements; and

  1. prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in operation.

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011 and the Charity (Accounts and Reports) Regulations 2008. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approval

This report was approved by the trustees and signed on their behalf by:

D Barnsley

_______ David Barnsley

Date: _9th July 2023______

Page 4

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF

TRINITY CHURCH BUXTON ('the Charity')

I report to the charity trustees on my examination of the accounts of the Charity for the year ended 31 March 2023 on pages 6 to 16 following, which have been prepared on the basis of the accounting policies set out on pages 8 to 9.

Responsibilities and basis of report

As the charity’s trustees of the Charitable Incorporated Organisation you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').

I report in respect of my examination of the Charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner’s statement

Since the Charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a Fellow of the Association of Charity Independent Examiners, which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the Charity as required by section 130 of the Act; or

  2. the accounts do not accord with those records; or

  3. 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 ‘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.

A Rajani

Ajay Rajani FCIE Fellow of the Association of Charity Independent Examiners Stewardship 1 Lamb's Passage London EC1Y 8AB

Date: 10th July 2023

Page 5

TRINITY CHURCH BUXTON

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 MARCH 2023

Note
INCOME AND ENDOWMENTS FROM:
Donations and legacies
3
Charitable activities
4
Total income and endowments
EXPENDITURE ON:
Charitable activities
5
Total expenditure
Net income/(expenditure)
Transfers between funds
13
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward
13		 Unrestricted
Funds
£
214,754
7,742
222,496
192,136
192,136
30,360
(10,000)
20,360
80,404
100,764		 Restricted
Funds
£
50,211
-
50,211
19,700
19,700
30,511
10,000
40,511
64,907
105,418		 Total
Funds
2023
£
264,965
7,742
272,707
211,836
211,836
60,871
-
60,871
145,311
206,182		 Total
Funds
2022
£
245,560
6,855
252,416
195,345
195,345
57,071
-
57,071
88,240
145,311

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing operations.

The notes on page 8-15 form part of these accounts.

Page 6

TRINITY CHURCH BUXTON

BALANCE SHEET

AS AT 31 MARCH 2023

Note
FIXED ASSETS
Tangible assets
8
CURRENT ASSETS
Debtors
9
Cash at bank and in hand
10
CREDITORS: Amounts falling
due within one year
11
Net current assets / (liabilities)
Total assets less current liabilities
TOTAL NET ASSETS
FUND BALANCES
13
Unrestricted Funds
General funds
Designated funds
Restricted Funds		 Unrestricted
Funds
£
12,499
12,499
18,003
76,325
94,327
(6,062)
88,265
100,764
100,764
91,390
9,374
100,764
-
100,764		 Restricted
Funds
£
-
-
7,506
97,912
105,418
-
105,418
105,418
105,418
-
-
-
105,418
105,418		 Total
Funds
2023
£
12,499
12,499
25,509
174,237
199,745
(6,062)
193,683
206,182
206,182
91,390
9,374
100,764
105,418
206,182		 Total
Funds
2022
£
-
-
26,370
125,827
152,197
(6,886)
145,311
145,311
145,311
80,404
-
80,404
64,907
145,311

The financial statements were approved by the Board of Trustees and were signed on its behalf by:

D Barnsley

David Barnsley

Date: _9th July 2023______

Charity number: 1162082

The notes on page 8-15 form part of these accounts.

Page 7

TRINITY CHURCH BUXTON

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2023

1 Statutory Information

The charity is a charitable incorporated organisation registered with the Charity Commission in England & Wales. The charity's registered number and principal address can be found on the Charity Information page.

2 Accounting Policies

These financial statements are prepared on a going concern basis, under the historical cost convention.

These financial statements have been prepared in accordance with the "Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) ("the Charities SORP"), with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland ("FRS 102") and with the Charities Act 2011. The charity meets the definition of a public benefit entity as set out in FRS 102.

The Charities (Accounts and Reports) Regulations 2008 (the '2008 Regulations') requires charities to prepare their accounts in accordance with 'Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005' but this accounting standard has since been withdrawn and has been replaced by the Charities SORP mentioned in the preceding paragraph. The charity has prepared these financial statements in accordance with the new Charities SORP; this departure from the 2008 Regulations is believed to be necessary for these financial statements to give a 'true and fair view'.

The principles adopted in the preparation of the financial statements are set out below.

a) Going concern

The trustees have assessed whether the use of the going concern basis is appropriate and have considered possible events or conditions that might cast significant doubt on the ability of the charity to continue as a going concern. The trustees have made this assessment for a period of at least one year from the date of approval of the financial statements. In particular the trustees have considered the charity's forecasts and projections and the possible implications should projected income and / or expenditure vary unexpectedly. The trustees have concluded that there is a reasonable expectation that the charity has adequate resources to continue to operate for the foreseeable future. The charity therefore continues to adopt the going concern basis in preparing its financial statements.

b) Income

Income including investment income is recognised in the period in which the charity becomes entitled to receipt, the amount receivable can be measured with reasonable certainty, and receipt is probable. For the most part, income is generally recognised when it is received. Income is only deferred when the charity has to fulfil conditions before becoming entitled to it or where the donor has specified that the income is to be expended in a future period.

Income from donations includes:

Recoverable gift aid. This is recognised when the related donation is received. Gift aid that has not been recovered by the balance sheet date is included as a debtor.

The charity relies on volunteers to carry out many of its activities. However, in accordance with the SORP, the value of these services has not been included in these financial statements as they cannot be reliably measured.

Income from charitable activities represents income receivable from goods, services and facilities supplied in furtherance of the charity's charitable objects. It includes income from church activities and events, and from hiring the church premises.

c) Expenditure

Expenditure, including irrecoverable VAT, is recognised when it is incurred or, if earlier, when a legal or constructive obligation for a payment arises provided that it is probable that settlement will be required and the amount of the obligation can be measured reliably.

The charity makes grants to other institutions and individuals to further its charitable objectives. Grants payable are recognised as constructive obligations arise, which is generally when the charity expresses a commitment to the recipient that can be measured reliably and then only to the extent that any conditions associated with the grant are outside of the control of the charity.

The cost of raising funds is not significant and has not been separately disclosed.

Governance costs, which are included in expenditure on charitable activities but are identified separately in the notes to the accounts, includes costs associated with the independent examination of the financial statements, compliance with constitutional and statutory requirements and any other expenditure incurred on the strategic management of the charity.

Page 8

TRINITY CHURCH BUXTON

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2023

e) Tangible fixed assets

Items purchased or donated for the charity's own use are capitalised when the cost of purchased items, or the fair value of donated items, is more than £2,500 and the item is expected to benefit the charity over more than one accounting period. Depreciation is charged on a straight line basis so as to write down the value of each asset to its estimated residual value (if any) over its expected useful economic life. To achieve this objective the following rates of depreciation are charged:

Equipment Over 3 to 7 years

The carrying values of tangible fixed assets are reviewed for impairment in periods when events or changes in circumstances indicate that the carrying value may not be recoverable.

A long established Trust has granted the charity the rent free use of its church building at Hardwick Mount and a manse, which is occupied by the church's senior minister. The charity is responsible for insuring and maintaining these properties. The costs associated with meeting these obligations are not believed to be less than the estimated value of the benefit received by the charity. For this reason, no value has been attributed to the use of these donated premises in these accounts.

f) Pension scheme arrangements The charity operates defined contribution pension schemes for its non ordained employees. Obligations for contributions to these schemes are recognised as an expense when the liability arises. The assets of these schemes are held separately from those of the charity in independently administered funds.

The charity also contributes to the Church of England Funded Pension Scheme for ordained employees, which is also a multiemployer defined benefit pension scheme as described in Section 28 of FRS 102. The charity is unable to identify its share of this scheme's assets and liabilities therefore, as permitted by FRS 102, it is being treated as if it were a defined contribution scheme. The last actuarial valuation indicated a funding surplus and the charity will make contributions at a reduced rate in future years until the surplus is eliminated. Further information about this defined benefits scheme, and its funding surplus, is disclosed elsewhere in the notes to these accounts.

g) Taxation The charity has taken advantage of the various reliefs from taxation available to charities and no tax is payable on the charity's income.

h) Financial instruments The charity's financial assets and financial liabilities all qualify as basic financial instruments, as defined by FRS102. Except for loans, creditors and debtors are measured at their expected settlement value (normally the amount of cash that the charity expects to pay or receive). The charity recognises liabilities for the principal of those loans that remains outstanding at the year end (i.e. the liabilities exclude any interest chargeable on the loans in future years).

The charity has taken advantage of an exemption conferred by the Charities SORP and has not prepared a cash flow statement.

j) Critical accounting estimates and areas of judgement The trustees do not consider that there are any material sources of estimation or uncertainty at the balance sheet date that could result in a material adjustment to the carrying values of assets and liabilities in the next reporting period.

3 Donations

Donations of cash and similar
Income tax recoverable
4
Income from charitable activities
Church activities and events
Hall hire
Book sales		 2023
£
223,457
41,508
264,965
2023
£
2,930
4,758
54
7,742		 2022
£
204,653
40,907
245,560
2022
£
2,691
4,164
6,855

Page 9

TRINITY CHURCH BUXTON

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2023

5 Charitable expenditure

a
Costs incurred directly on specific activities
Ministry expenses
Ministry staff costs
Youth & children's ministry
Other ministry
Outreach
Property expenses
Church building repair & maintenance
Church utilities & insurance
Tower project
Minister's housing costs
Grants payable (note 5c)
b
Costs incurred on support & administration
Governance costs
Independent examiner's fee
Other
Printing & stationery
Administration costs including staff costs
Depreciation of tangible fixed assets
Total expenditure		 2023
£
113,186
1,516
2,456
4,016
4,493
15,372
18,770
4,104
163,912
24,000
187,912
1,590
-
1,590
2,995
16,214
3,125
23,923
211,836		 2022
£
116,737
1,199
350
5,926
8,213
10,855
-
3,751
147,032
30,230
177,262
660
-
660
2,292
15,131
-
18,083
195,345

The fee payable to the independent examiner for examining the accounts was £1,590 (2022: £660); the charity did not pay for any additional services from Stewardship during the year.

c Grants payable

Grants for UK and overseas mission
Grants for the relief of poverty
The comparatives for the previous year are as follows:
Grants for UK and overseas mission
Grants for the relief of poverty
The charity's principal grants to institutions comprised:
Church Mission Society
Crosslinks
Tearfund
WEC
Wycliffe Bible Translators
London City Mission
Middle East Media		 Institutions
£
20,000
4,000
24,000
Institutions
£
22,080
4,120
26,200		 Individuals
£
-
-
-
Individuals
£
4,030
-
4,030
2023
£
5,000
5,000
4,000
3,000
3,000
2,000
2,000
24,000		 2023
£
20,000
4,000
24,000
2022
£
26,110
4,120
30,230
2022
£
5,000
5,000
4,120
3,000
3,000
2,020
4,060
26,200

Page 10

TRINITY CHURCH BUXTON

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2023

6 Analysis of staff costs, the cost of key management personnel and trustee remuneration

The average monthly number of employees during the year was 4 (2022: 4). Most of the charity's activities are carried out by volunteers.

No staff received salaries at a rate of more than £60,000 per annum.

The charity's key management comprise the trustees named on the Charity Information page. Total employment benefits payable to key management for the year were as follows:

Other
Employer
Wages &
employment
pension
salaries
benefits
contributions
Trustees:
Rev R Marsden
25,803
-
8,514
Rev D Barnsley
27,050
-
8,514		 2023
£
34,317
35,564
69,881

The following amounts were payable in the previous year:

Other
Employer
Wages &
employment
pension
salaries
benefits
contributions
Trustees:
Rev R Marsden
25,250
-
10,005
Rev D Barnsley
26,520
-
10,005		 2022
£
35,255
36,525
71,780

Rev R Marsden and Rev D Barnsley both served as church leaders and received the above payments for serving in that capacity, not for serving as trustees; these payments are permitted by the charity's governing document.

In addition the charity incurred expenditure totalling:

7 Acting as agent

On occasion the charity receives money on behalf of other charities and individuals, which it banks and then pays out to them. This income is received as agent for these other charities and individuals and the income, and the related payments, are excluded from the Statement of Financial Activities; any money that has not been distributed by the year end is recognised as a creditor.

During the year the charity:

Page 11

TRINITY CHURCH BUXTON

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2023

8 Tangible fixed assets

Cost
At 1 April 2022
Additions
At 31 March 2023
Accumulated depreciation
At 1 April 2022
Charge for the year
At 31 March 2023
Net book value
At 31 March 2023
At 31 March 2022
Debtors
Falling due within one year:
Tax recoverable
Prepayments and accrued income
Cash at Bank and in Hand
Cash at bank with immediate access
Creditors: liabilities falling due within one year
Taxation and social security
Accruals
Grant obligations		 Fixtures,
fittings and
equipment
£
-
15,624
15,624
-
3,125
3,125
12,499
-
2023
£
25,509
-
25,509
2023
£
174,237
174,237
2023
£
1,073
2,959
2,030
6,062		 Total
2023
£
-
15,624
15,624
-
3,125
3,125
12,499
-
2022
£
25,739
631
26,370
2022
£
125,827
125,827
2022
£
-
856
6,030
6,886

9 Debtors

10 Cash at Bank and in Hand

11 Creditors: liabilities falling due within one year

12 Pension commitments

The Church of England Funded Pension Scheme

The charity participates in the Church of England Funded Pensions Scheme for stipendiary clergy, which is a defined benefit pension scheme. This scheme is administered by the Church of England Pensions Board, which holds the assets of the schemes separately from those of the Responsible Bodies.

Each participating Responsible Body in the scheme pays contributions at a common contribution rate applied to pensionable stipends.

The scheme is considered to be a multi-employer scheme as described in Section 28 of FRS 102. This means it is not possible to attribute the Scheme’s assets and liabilities to specific Responsible Bodies and so contributions are accounted for as if the Scheme were a defined contribution scheme.

A valuation of the Scheme is carried out once every three years. The most recent Scheme valuation completed was carried out at as 31 December 2021. The 2021 valuation revealed a surplus of £560m, based on assets of £2,720m and a funding target of £2,160m, assessed using the following assumptions:

Page 12

TRINITY CHURCH BUXTON

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2023

Following the 31 December 2018 valuation, a deficit recovery plan was put in place until 31 December 2022 and the deficit recovery contributions (as a percentage of pensionable stipends) were as set out in the table below. An interim reduction to deficit contributions to 3.2% of pensionable stipends was made with effect from 1 April 2022. Following finalisation of the 31 December 2021 valuation, deficit contributions ceased with effect from 1 January 2023, since the Scheme was in surplus.

As at 31 December 2020 and 31 December 2021 the deficit recovery contributions under the recovery plan in force were as set out in the table below. For senior office holders, pensionable stipends are adjusted in the calculations by a multiple, as set out in the Scheme’s rules.

----- Start of picture text -----
% of pensionable stipends January January
2018 to 2021 to
December December
2020 2022
Deficit repair contributions 11.90% 7.10%
----- End of picture text -----

Section 28.11A of FRS 102 requires agreed deficit recovery payments to be recognised as a liability. No liability was included in the previous year's accounts but, if it had, it would have been £4,000. As noted above, the most recent actuarial valuation (on 31 December 2021) showed that the Scheme had a funding surplus and there is no liability at 31 March 2023.

The legal structure of the scheme is such that if another Responsible Body fails, the charity could become responsible for paying a share of that Responsible Body’s pension liabilities.

Summary of pension contributions payable for year:

The charity's pension contributions were as follows

Church of England Funded Pension Scheme (see above)
charged in respect of service in year
contributions towards funding deficit
Pension contributions to other defined contribution schemes		 2023
£
15,028
2,000
17,028
2,823
19,851		 2022
£
16,010
4,000
20,010
3,023
23,033

Summary of pension liabilities at the year end:

The charity's pension liabilities at the end of the year were as follows:

in respect of defined benefit pension arrangements
in respect of defined contribution pension arrangements		 2023
£
-
-
-		 2022
£
-
-
-

Page 13

TRINITY CHURCH BUXTON

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2023

13 Funds

During the year the movements in the charity's funds were as follows:

Designated Funds
Mission Beyond Buxton fund
General Unrestricted Funds
Total Unrestricted Funds
Restricted Funds
Wentworth fund
Tower project fund
Aggregate of funds		 Opening
balance
2023
£
-
-
80,404
80,404
2,925
61,982
64,907
145,311		 Incoming
resources
2023
£
-
-
222,496
222,496
2,580
47,631
50,211
272,707		 Outgoing
resources
2023
£
(24,000)
(24,000)
(168,136)
(192,136)
(930)
(18,770)
(19,700)
(211,836)		 Transfers
in the year
2023
£
33,374
33,374
(43,374)
(10,000)
-
10,000
10,000
-		 Closing
balance
2023
£
9,374
9,374
91,390
100,764
4,575
100,843
105,418
206,182

The transfers referred to above were made for the following reasons:

The transfer from General to the Designated Mission Beyond Buxton fund represents 15% of total unrestricted income which

a) the trustees have set aside to support mission activities. b) The transfer from General to the Tower fund represents money set aside by the trustees for the Tower Project.

Analysis of net assets by fund

The assets and liabilities of the various funds were as follows:

assets and liabilities of the various funds were as follows:
Tangible fixed assets
Debtors
Cash at bank and in hand
Creditors falling due within one year		 General
Designated
funds
funds
£
£
12,499
-
18,003
-
66,950
9,374
(6,062)
-
91,390
9,374
Unrestricted Funds		 Restricted
funds
£
-
7,506
97,912
-
105,418		 2023
£
12,499
25,509
174,237
(6,062)
206,182
General
funds
£
12,499
18,003
66,950
(6,062)
91,390

Page 14

TRINITY CHURCH BUXTON

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2023

In the previous year the movements in the charity's funds were as follows:

General Unrestricted Funds
Total Unrestricted Funds
Restricted Funds
Wentworth fund
Tower project fund
Aggregate of funds		 Opening
balance
2022
£
83,140
83,140
5,100
-
5,100
88,240		 Incoming
resources
2022
£
201,534
201,534
2,900
47,982
50,882
252,416		 Outgoing
resources
2022
£
(190,270)
(190,270)
(5,075)
-
(5,075)
(195,345)		 Transfers
in the year
2022
£
(14,000)
(14,000)
-
14,000
14,000
-		 Closing
balance
2022
£
80,404
80,404
2,925
61,982
64,907
145,311

Analysis of net assets by fund

In the previous year, the assets and liabilities of the various funds were as follows:

Debtors
Cash at bank and in hand
Creditors falling due within one year		 General
Designated
funds
funds
£
£
26,370
-
60,920
-
(6,886)
-
80,404
-
Unrestricted Funds		 Restricted
funds
£
-
64,907
-
64,907		 2022
£
26,370
125,827
(6,886)
145,311
General
funds
£
26,370
60,920
(6,886)
80,404

Designated

The Mission Beyond Buxton fund represents 15% unrestricted income which the trustees set aside annually for grant giving to institutions and individuals who undertake mission activities that further the charity's own objects. It is anticipated that all of the funds designated for this purpose will be distributed in the new financial year.

Restricted

The Wentworth Fund is money restricted to supporting those in financial need.

The Tower Fund is money restricted to the Tower Project which involves carrying out essential repair and restoration of the church tower.

14 Transactions with related parties

During the year the charity:

Except for the reimbursement of expenses incurred when acting as agent for the charity, or incurred when undertaking employment duties, no expenses were paid to (or for) the trustees.

Page 15

TRINITY CHURCH BUXTON

DETAILED STATEMENT OF FINANCIAL ACTIVITIES WITH COMPARATIVES

FOR THE YEAR ENDED 31 MARCH 2023

Note
INCOME AND ENDOWMENTS FROM:
Donations and legacies
3
Charitable activities
4
Total income and endowments
EXPENDITURE ON:
Charitable activities:
5
Total Expenditure
Net income/(expenditure)
Transfers between funds
13
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward
13		 General
Designated
2023
2023
£
£
214,754
7,742
222,496
-
168,136
24,000
168,136
24,000
54,360
(24,000)
(43,374)
33,374
10,986
9,374
80,404
-
91,390
9,374
Unrestricted funds		 Restricted
2023
£
50,211
50,211
19,700
19,700
30,511
10,000
40,511
64,907
105,418		 Total
2023
£
264,965
7,742
272,707
211,836
211,836
60,871
-
60,871
145,311
206,182		 General
Designated
2022
2022
£
£
194,678
6,855
201,534
-
190,270
190,270
-
11,264
-
(14,000)
-
(2,736)
-
83,140
-
80,404
-
Unrestricted funds		 Restricted
2022
£
50,882
50,882
5,075
5,075
45,807
14,000
59,807
5,100
64,907		 Total
2022
£
245,560
6,855
252,416
195,345
195,345
57,071
-
57,071
88,240
145,311

Page 16