OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2021-12-31-accounts

THE YORKSHIRE HISTORIC CHURCHES TRUST (Registered Charity 1175099)

ANNUAL REPORT AND ACCOUNTS

FOR THE YEAR TO 31 DECEMBER 2021

THE YORKSHIRE HISTORIC CHURCHES TRUST
(Registered Charity 1175099)
INDEX PAGE
TRUSTEES REPORT 1-3
INDEPENDENT EXAMINER’S REPORT 4
RECEIPTS AND PAYMENTS ACCOUNT 5
ASSETS AND LIABILITIES 6
NOTES TO THE ACCOUNTS 7-11

THE YORKSHIRE HISTORIC CHURCHES TRUST (Registered charity 1175099)

TRUSTEES REPORT FOR THE YEAR TO 31 DECEMBER 2021

OBJECTIVES AND ACTIVITIES

The Charity is a charitable incorporated organisation (CIO) registered with the Charity Commission on 11 October 2017 with the purpose of taking over the assets and liabilities of The Yorkshire Historic Churches Trust (registered charity 700639). The transfer took place with effect from 1 February 2018.

The purpose of the Trust is the preservation, repair, maintenance and improvement of Christian Churches in Yorkshire and of the monuments, fittings, fixtures, stained glass, furniture, ornaments, bells, clocks and chimes in such Churches and the churchyard belonging to such Churches.

The trustees confirm that the Charity has complied with its duty to have regard to the guidance on public benefit published by the Charity Commission.

ACHIEVEMENTS AND PERFORMANCE

The Charity achieves its objectives by paying grants to churches and chapels for the carrying out of works within the objectives of the Charity. It is the policy of the Charity to award in grants in each year an amount approximating to its income after expenses (other than grants) for the previous year, and in the event of any awarded grant lapsing to reallocate the amount lapsed or if any balance is unawarded in any year to carry it forward to the following year. Grants are awarded by the Trustees on the recommendation of a committee which proposes grants on the basis of the Charity’s objectives, and the applicant’s needs, balanced against the resources allocated for awards. The Charity seeks to keep available in cash deposits funds sufficient to pay all grants awarded or allocated.

During the period covered by the accounts £109,400 was paid out in grants and £121,515 of grants were awarded. At the year-end grants totalling £128,865 had been awarded for payment on completion of the work. Details of all grants paid or lapsed in the period covered by these accounts and all grants awarded but unpaid at 31 December 2021 are shown in the notes to the accounts. During 2021 the income of the Charity (after allowing for the monthly withdrawals from the Investment Fund) amounted to £122,700 (2020 £131,570) and its expenses (other than grants) were £18,775 (2020 £18,340) showing a surplus of £103,925 (2020 £113,230). Taking into account delayed transfer of funds from the Investment Fund relating to 2020 but received in 2021 the Trustees have allocated £102,000 for award in 2022.

The greater part of the Charity’s income derives from grants from charitable trusts and it is most grateful to them for their support, and particularly to the Liz & Terry Bramall Foundation which has supported the Charity for many years and has expressed the intention to continue to do so at least for the next year. The trusts supporting the Charity are listed in note 3 to the accounts.

The Charity participates in the national Ride & Stride event held in September as a means of raising funds for the Charity and the churches or chapels of the participants. In September this event raised £583 of which half was rebated in grants to churches and chapels. The Trustees continue to review the declining income from this event.

1

THE YORKSHIRE HISTORIC CHURCHES TRUST (Registered charity 1175099)

TRUSTEES REPORT FOR THE YEAR TO 31 DECEMBER 2021

The Charity has a membership of 173 friends and 64 subscribing churches. In addition to an annual report they receive periodic newsletters and, in a normal year, activities, such as tours, lectures and social events, are organised to maintain contact and support with some disruption caused by Covid-19 in the earlier part of 2021. Online lectures introduced in 2020 as a response to Covid-19 proved successful and are being continued as a regular event.

The Charity seeks to demonstrate the public value of its work in supporting churches by encouraging churches, clergy and congregations to publicise its contributions and by promoting its activities through media coverage, locally and nationally including an increasing presence on social media.

The Charity is grateful to the members and volunteers who have given their time to organise tours and events and to members who support them.

FINANCIAL POLICIES

Investment

Funds required to meet grants awarded or allocated for grants are held on deposit with the Central Board of Finance of the Church of England and banks. Funds not immediately required for this purpose are held in the form of listed investments managed on a discretionary basis by professional investment managers. The present managers were appointed following a selection process managed by a sub-committee of the Trustees during 2019; this led to a substantial reorganization of the portfolio resulting in an exceptional number of investment transactions in 2019 and early 2020. A monthly transfer (indexed to inflation) is drawn from the income and/or capital of the portfolio. The present mandate for the investment managers is to invest at medium to high risk and to generate a return after charges of at least CPI + approximately 3.2% on the portfolio. These funds and the returns made are regularly monitored by the Trustees.

Reserves

The Charity operates on the basis that it distributes in each year the surplus of the previous year and during the course of a year retains that surplus in cash deposits as a reserve for distribution in the following year; it requires very little by way of additional reserves since administrative costs can readily be met out of the monthly investment withdrawal. The free reserves at 31 December 2021 were £11,941 (2020 £12,702) after allowing for £50,000 made available for investment as part of the Investment Fund but which may be recalled at any time. The Trustees consider this more than adequate. The Charity does not retain reserves for future grant awards but distributes the whole surplus of the year whether more or less than previous years.

It is the Trustees intention that the designated Investment Fund should remain invested to provide increasing income to be expended on the charitable objects of the Charity, but the Fund remains available for expenditure for these purposes at the discretion of the Trustees.

RISK MANAGEMENT

The Charity has performed a Risk Management Review to identify the risks associated with its activities, and systems and procedures are in place to manage the risks and adequate insurance is maintained.

LEGAL STRUCTURE

The Charity is a Charitable Incorporated Organisation managed by not less than four nor more than ten charity trustees; at 31 December there were nine Trustees. The Trustees meet four times a year. At present the Charity has one committee chaired by a Trustee charged with recommending grants to be awarded by the Charity.

2

THE YORKSHIRE HISTORIC CHURCHES TRUST (Registered charity 1175099)

TRUSTEES REPORT FOR THE YEAR TO 31 DECEMBER 2021

REFERENCE AND ADMINISTRATIVE INFORMATION

TRUSTEES

Trustees who served during the period were:

Tom Ramsden – Chairman

Richard Bailey – Treasurer (reappointed 13 July 2021)

Jane Crease Moira Fulton Kate Giles

Sylvia Johnson – Chairman of Grants committee (reappointed 29 January 2021) Peter Johnston – Chairman of Grants committee (retired 30 April 2021) Clive Lloyd Rory Wardroper Michael Wildblood

Treasurer Secretary (principal address) Grant Secretary Richard Bailey Mrs Vanessa White Jonathan Stamp 2 Dalton Terrace 77 Silverdale Close 11 Ovington Close York Guiseley Templetown YO24 4DA Leeds Consett LS20 8BE Co. Durham DH8 7NY

Investment Managers Bankers Solicitors Aberdeen Capital Ltd Co-operative Bank Lupton Fawcett Denison Till Minerva House PO Box 101 Stamford House 29 East Parade 1 Balloon Street Piccadilly Leeds Manchester York LS1 5PS M60 4EP YO1 9PP

Independent Examiner Sarah Wearing FCA, DChA HPH Chartered Accountants 54 Bootham York YO30 7XZ

Approved by the Trustees on 22 April 2022 and signed on behalf of the Charity by:

……………………………………………………………. T J P Ramsden (Chairman)

3

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF THE YORKSHIRE HISTORIC CHURCHES TRUST

I report to the trustees on my examination of the accounts of The Yorkshire Historic Churches Trust (the “Trust”) for the year ended 31 December 2021.

This report is made solely to the charity's trustees, as a body, in accordance with Section 154 of the Charities Act 2011. My independent examination work has been undertaken so that I might state to the charity's trustees those matters I am required to state to them in an Independent Examiner's Report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Trust and the charity's trustees as a body, for my independent examination work, for this report, or for the opinions I have formed.

Responsibilities and basis of report

As the charity trustees of the Trust 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 Trust’s accounts 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) of the Act.

Independent examiner’s statement

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:

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

  2. the accounts do not accord with those records.

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.

Sarah Wearing FCA, DChA HPH, Chartered Accountants 54 Bootham York YO30 7XZ

22 April 2022

4

THE YORKSHIRE HISTORIC CHURCHES TRUST RECEIPTS AND PAYMENTS ACCOUNT FOR THE YEAR TO 31 DECEMBER 2021

Note
GENERAL FUND
Receipts
Donations and Legacies
Donations and Subscriptions
Grants from charitable trusts
3
Gift Aid tax reclaim
Miscellaneous grant
Other activities
Sponsored event
Events
Financial activities
Interest on deposits
Total receipts
Payments
Charitable Activities
Grants to churches
4
Sponsored ride - repaid to churches
Raising funds
Events
Administration costs
7 & 8
Administration of grants
Administration of membership
Administration of charity
Total payments
Net Payments before transfer
Transfer of income from Investment Fund
Income in transit received from Investment Fund
Transfer of capital from Investment Fund
Transfer of reserves to Investment Fund
Net Payments after transfers
INVESTMENT FUND
Receipts
Income of Investment Fund
Sale of investments
Capital receipts
Payments
Purchase of investments
Investment management fees
Net Payments before transfer
Transfer of income to General Fund
Transfer of reserves from General Fund
Transfer of capital to General Fund
Net Payments after transfers
Reconciliation of Funds
Total cash funds brought forward
Net payments
Amounts due from transactions
Total cash funds carried forward		 Restricted
Funds
2021
£
-
-
-
-
-
-
-
-
4,600
-
-
-
-
-
4,600
(4,600)
-
-
-
-
(4,600)
-
-
-
-
-
-
-
-
-
-
-
-
11,700
(4,600)
-
7,100		 Unrestricted
Funds
2021
£
17,902
62,900
3,324
720
583
1,607
759
87,795
104,800
253
1,393
4,001
3,730
9,398
123,575
(35,780)
30,722
2,685
1,498
-
(875)
30,882
85,815
14
116,711
113,003
8,879
121,882
(5,171)
(30,722)
-
(1,498)
(37,391)
240,343
(38,266)
-
202,077		 Total
Funds
2021
17,902
62,900
3,324
720
583
1,607
759
87,795
109,400
253
1,393
4,001
3,730
9,398
128,175
(40,380)
30,722
2,685
1,498
-
(5,475)
30,882
85,815
14
116,711
113,003
8,879
121,882
(5,171)
(30,722)
-
(1,498)
(37,391)
252,043
(42,866)
-
209,177		 Total
Funds
2020
8,170
86,900
1,294
-
1,022
2,995
2,864
103,245
92,235
488
891
4,204
2,360
10,397
110,575
(7,330)
23,352
-
4,973
(50,000)
(29,005)
23,489
181,734
625
205,848
471,764
6,375
478,139
(272,291)
(23,352)
50,000
(4,973)
(250,616)
521,693
(279,621)
9,971
252,043

The notes on pages 7 to 11 form part of these financial statements.

5

THE YORKSHIRE HISTORIC CHURCHES TRUST ASSETS AND LIABILITIES ACCOUNT FOR THE YEAR TO 31 DECEMBER 2021

Note
CASH ASSETS
CBF of Church of England Deposit Fund
Bank Deposits
10
Current Account
10
Deposit within Investment Fund
Income within Investment Fund
Total Cash Assets
OTHER ASSETS
Unsettled Trades
Payment in Transit
INVESTMENT ASSETS
Investments
11
TOTAL ASSETS
LIABILITIES
Amounts falling due within one year
Grants to churches
5
TOTAL LIABILITIES
NET ASSETS
THE FUNDS OF THE CHARITY
Investment Fund
11
Grant Fund
Assets
6
Liabilities
General Fund
TOTAL CHARITY FUNDS		 Restricted
Funds
2021
-
7,100
-
-
-
7,100
-
-
-
-
7,100
7,100
7,100
-
-
7,100
7,100
-
-
-		 Unrestricted
Funds
2021
£
26,703
156,137
2,867
16,209
160
202,076
-
-
-
1,164,548
1,366,624
121,765
121,765
1,244,859
1,180,918
223,765
121,765
102,000
(38,059)
1,244,859		 Total
Funds
2021
26,703
163,237
2,867
16,209
160
209,176
-
-
-
1,164,548
1,373,724
128,865
128,865
1,244,859
1,180,918
230,865
128,865
102,000
(38,059)
1,244,859		 Total
Funds
2020
£
60,702
137,026
554
30,428
23,333
252,043
7,286
2,685
9,971.00
1,007,333
1,269,347
116,750
116,750
1,152,597
1,068,380
238,265
116,750
121,515
(37,298)
1,152,597

The notes on pages 7 to 11 form part of these financial statements.

Approved by the Trustees on 22 April 2022

Tom Ramsden Richard Bailey Chairman Treasurer

6

THE YORKSHIRE HISTORIC CHURCHES TRUST NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2021

1. GENERAL INFORMATION

The charity is a Charitable Incorporated Organisation registered with the Charity Commission for England and Wales and is governed by the Charities Act 2011.

2. ACCOUNTING POLICIES

Basis of Accounts

.

The financial statements have been prepared to give a ‘true and fair’ view on a receipts and payments basis and under the historical cost convention, modified to include investments at market value.

The significant accounting policies applied in the preparation of these financial statements are set out below.

Funds

Unrestricted monies held are those which the trustees are free to use in accordance with the charitable objectives of the Trust.

Designated funds represent funds set aside by the trustees out of unrestricted funds for grants to churches or investment.

Restricted Funds are those where the use has been specified by the donor.

Income

All income is included in the Receipts and Payments account when received by the Charity.

Investment income generated is allocated to general unrestricted purposes.

Subscriptions are included in the Receipts and Payments account at the time of receipt. Advance and Life subscriptions are not offered. Life membership and advance subscriptions not yet recognised by the predecessor trust have been recognised by the charity in the period covered by these accounts.

Expenditure

Expenditure is accounted for on a payments basis and has been classified under headings that aggregate all costs related to the category. The Trust is not registered for VAT and accordingly expenditure is shown gross of irrecoverable VAT.

Charitable expenditure comprises those costs incurred by the charity in pursuit of its charitable objects.

Grants

Grants payable are included in the Receipts and Payments account for the year in which they are paid by the Charity; grants awarded but not yet paid are regarded as a liability of the Charity.

Investments

Quoted investments held in the nature of fixed assets are stated at market value.

Bank and other deposits held to meet operating requirements are treated as current assets.

7

THE YORKSHIRE HISTORIC CHURCHES TRUST NOTES TO THE ACCOUNTS FOR THE YEAR TO 31 DECEMBER 2021

3
GRANTS FROM CHARITABLE TRUSTS
Liz & Terry Bramall Foundation
Kenneth Hargreaves Trust
Holy Rood Community Trust
Ilkley Trust
Spooner Trust
4
GRANTS TO CHURCHES
Grants Paid
Beighton,St Mary
Brafferton, St Peter
Burythorpe, All Saints
Carlton, St Mary
Cawthorne, All Saints
Chapel Allerton, St Matthew
East Morton, St Luke
Ellamd, St Mary the Virgin
Heslington, St Paul
Honley, St Mary the Virgin
Leeds, St Peter
Long Preston, St Mary
North Ferriby, All Saints
North Newbald, St Nicholas
Oxenhope, St Mary the Virgin
Pontefract, St Giles
Pontefract, St Joseph
Pudsey, St James the Great
Rotherham, The Chapel on the Bridge
Selby, Portholme Church
Skelbrooke, St Michael & All Angels
Slingsby Methodist Church
Thornhill, St Michael & All Angels
Thornton in Lonsdale, St Oswald
Wilsden, St Matthew
Woolley, St Peter
York, All Saints North Street
York, All Saints Pavement
York, St Lawrence
Paid in prior year		 Restricted
Funds
2021
£
-
-
-
-
-
-
-
-
4,000
-
-
-
-
-
-
-
-
-
-
600
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
4,600		 Unrestricted
Funds
2021
£
60,000
1,500
-
400
1,000
62,900
3,000
6,000
-
2,000
3,000
3,500
3,000
7,000
3,000
4,000
3,500
500
4,000
-
10,000
6,000
2,000
3,000
4,800
3,500
3,000
4,000
2,500
2,000
3,000
3,500
5,000
4,000
6,000
-
104,800		 Total Funds
2021
£
60,000
1,500
-
400
1,000
62,900
3,000
6,000
4,000
2,000
3,000
3,500
3,000
7,000
3,000
4,000
3,500
500
4,000
600
10,000
6,000
2,000
3,000
4,800
3,500
3,000
4,000
2,500
2,000
3,000
3,500
5,000
4,000
6,000
-
109,400		 Total Funds
2020
£
60,000
500
25,000
400
1,000
86,900
92,235
92,235

All the above grants approved from restricted designated and unrestricted funds were to institutions

8

THE YORKSHIRE HISTORIC CHURCHES TRUST NOTES TO THE ACCOUNTS FOR THE YEAR TO 31 DECEMBER 2021

5
GRANTS AWARDED BUT UNPAID
Airton, Quaker Meeting House
Bawtry, St Nicholas
Bradford, St Joseph
Bradford, St Patrick Mission
Brighouse, Central Methodist Church
Campsall. St Mary Magdalene
Chopgate, St Hilda
Cleckheaton, St John
Crathorne, St Mary's Chapel
Fulford, St Oswald
Harswell, St Peter
Heckmondwike, Holy Spirit
High Bradfield, St Nicholas
Hoyland, St Peter
Ilkley(Menston) St John
Marr, St Helen
Middleton Tyas, St Michael & All Angels
Mosborough, Methodist Church
Nunnington, All Saints & St James
Reeth, Evangelical Congregational Church
Riccall, St Mary
Ripon, St Wilfrid
Rotherham Minster (All Saints)
Sessay, St Cuthbert
Sheffield, Cemetery Road Baptist Church
Sheffield, St Margaret
Sheffield, St Thomas
Sigglesthorne, St Lawrence
Skirlaugh, St Augustine
Snape, St Mary's Chapel
South Stainley, St Wilfrid
Stillington (York), St Nicholas
Thornton in Lonsdale, St Oswald
Womersley, St Martin
York, Central Methodist Church
Awarded in prior year		 Restricted
Funds
2021
£
-
-
-
-
-
-
3,000
-
-
100
2,000
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
2,000
-
-
-
-
7,100		 Unrestricted
Funds
2021
£
5,000
7,000
3,000
4,000
3,000
1,000
-
3,000
4,000
3,750
-
3,000
4,000
1,000
4,000
3,500
2,500
5,000
1,880
5,250
4,000
4,000
5,500
4,000
2,500
3,500
3,500
7,000
6,385
4,000
3,000
-
3,500
2,500
4,500
-
121,765		 Total
Funds
Total
Funds
2021
2020
£
£
5,000
7,000
3,000
4,000
3,000
1,000
3,000
3,000
4,000
3,850
2,000
3,000
4,000
1,000
4,000
3,500
2,500
5,000
1,880
5,250
4,000
4,000
5,500
4,000
2,500
3,500
3,500
7,000
6,385
4,000
3,000
2,000
3,500
2,500
4,500
116,750
128,865
116,750

9

THE YORKSHIRE HISTORIC CHURCHES TRUST NOTES TO THE ACCOUNTS FOR THE YEAR TO 31 DECEMBER 2021

6
GRANT FUND
Grants awarded but unpaid at 1 January 2021
Grants awarded 2021
Grants paid to churches
Grants awarded but unpaid at 31 December 2021
2021 Allocation unawarded
Allocation for grants for 2021
Total Fund at 31 December 2020		 Restricted
Funds
2021
£
11,700
-
(4,600)
7,100
-
-
7,100		 Unrestricted
Funds
2021
£
105,050
121,515
(104,800)
121,765
-
102,000
223,765		 Total Funds
2021
£
116,750
121,515
(109,400)
128,865
-
102,000
230,865		 Total Funds
2020
£
87,250
121,735
(92,235)
116,750
5,515
116,000
238,265
Administration of Grants
Grant Secretary - Salary and expenses
Photocopier charges
Administration of Membership
Secretarial Fees
Administration of charity
Secretarial Expenses
Printing, stationery & postage
Independent Examination Fee (Audit fee)
Insurance
Website Development
Sundries
8
STAFF COSTS
Salaries
Average Head Count		 2021
£
3,962
39
4,001
3,730
5,370
563
1,500
964
925
76
9,398
3,900
1		 2020
£
4,034
170
4,204
2,360
5,279
814
1,500
950
1,776
78
10,397
3,855
1

9 TRUSTEES EXPENSES

No reimbursment of expenses was made to any trustee (2020: £nil). No Trustee nor any person connected with them may receive any remuneration directly or indirectly from the Charity's funds.

10

THE YORKSHIRE HISTORIC CHURCHES TRUST NOTES TO THE ACCOUNTS FOR THE YEAR TO 31 DECEMBER 2021

10
BANK DEPOSITS
Charity Bank
Co-operative Bank - Business deposit account
Hampshire Trust Bank 1 year bond to 11/5/21 (2020)
Hampshire Trust Bank 1 year bond to 22/10/22 (2020)
Hampshire Trust Bank 1 year bond to 20/11/20
CURRENT ACCOUNT
Co-operative Bank
11
INVESTMENTS
Quoted Investments
Market Value at 1 January 2021
Market Value at 31 December 2021
Historical Cost at 31 December 2021
Investments held at 31 December 2021 by category are:
UK Government Bonds
UK Corporate Bonds
UK Bond Funds
Global Bond Funds
UK Equities
UK EquityFunds
UK Property Funds
European Equities
North American Equities
Asian Equities
Foreign & Global Funds
Alternatives and Infastructure		 31 December
2021
83,662
23,644
20,644
10,287
25,000
163,237
2,867
1,007,333
1,164,548
941,708
25,155
-
62,287
56,213
288,743
27,842
17,988
220,521
318,673
40,920
-
106,206
1,164,548		 31 December
2020
£
83,333
23,138
20,379
10,176
-
137,026
554
674,523
1,007,333
901,889
27,721
4,531
65,442
58,917
255,226
14,382
12,129
191,727
231,326
45,647
10,463
89,822
1,007,333

NB The Investment Fund includes £50,000 transferred from the General Fund which may be recalled to the General Fund at any time

11