2025-12-31-accounts - The Yorkshire Historic Churches Trust

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THE YORKSHIRE HISTORIC CHURCHES TRUST (Registered Charity 1175099)

ANNUAL REPORT AND ACCOUNTS

FOR THE YEAR TO 31 DECEMBER 2025

THE YORKSHIRE HISTORIC CHURCHES TRUST (Registered Charity 1175099)

INDEX	PAGE
Trustees Report	1-4
Independent Examiner’s Report	5
Receipts and Payments Account	6
Assets and Liabilities	7
Notes to the Accounts	8-12

THE YORKSHIRE HISTORIC CHURCHES TRUST (Registered charity 1175099)

TRUSTEES REPORT FOR THE YEAR TO 31 DECEMBER 2025

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 and maintenance 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 in cash deposits sufficient funds to pay all grants awarded or allocated.

During the period covered by the accounts £179,058 was paid out in grants and £199,824 of grants were awarded. At the year-end grants totalling £199,426 were outstanding 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 2025 are shown in the notes to the accounts. During 2025 the income of the Charity (after allowing for the monthly withdrawals from the Investment Fund) amounted to £145,393 (2024 £216,157) and its expenses (other than grants) were £22,198 (2024 £23,318) showing a surplus of £128,051 (2024 £178,889). The Trustees have allocated £146,445 for award in 2026, including a contribution from legacies of £13,608 and an unawarded allocation from 2025 of £6,529.

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 promised support for at least a further 2 years. 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 in conjunction with Yorkshire Churches Day as a means of raising funds for the Charity and the churches or chapels of the participants. This year this event only attracted one participant group and raised £870 of which £428 was rebated in grant to the participant’s nominated church.

THE YORKSHIRE HISTORIC CHURCHES TRUST (Registered charity 1175099)

TRUSTEES REPORT FOR THE YEAR TO 31 DECEMBER 2025

The Charity has a membership of 116 friends and 75 subscribing churches. In addition to an annual report they receive periodic newsletters and activities, such as tours, lectures and social events, are organised to maintain contact and support. Online lectures originally introduced in 2020 as a response to Covid-19 have proved successful and are being continued regularly every winter.

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 on social media. Yorkshire Churches Day to promote the work and membership of the Charity and raise funds was launched in September 2022 on a trial basis and has become an annual event.

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

Legacies and Bequests

Since legacies and bequests are not received on a regular basis and in order to even out year on year the amount available for grants, legacies and bequests are not treated as income distributable in the year following receipt. Those under £2,000 are allocated for grants at the next 6-monthly grant meeting following receipt; those in excess of £2,000 but under £5,000 are allocated as to 50% at each of the next two meetings; those between £5,000 and £25,000 are allocated at the rate of 20% per annum and those over £25,000 are allocated at the rate of 10% per annum; pending distribution legacies and bequests will be invested as part of the investment Fund.

Investment

Funds required to meet grants awarded or allocated are held in the CBF Church of England Deposit Fund or on deposit with 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. A monthly transfer (indexed to inflation) is drawn from the income and when required 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 does not require additional reserves since administrative costs can readily be met out of the monthly investment withdrawal. At 31 December 2025 there was a surplus of £4,821 (2024 deficit £109) on the general fund 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 to be sufficient given that a significant proportion of the grants to be awarded in 2026 will not be paid before 2027 and the availability of the Investment Fund. The Charity does not retain reserves for future grant awards but distributes the whole surplus of the year whether more or less than

THE YORKSHIRE HISTORIC CHURCHES TRUST (Registered charity 1175099)

TRUSTEES REPORT FOR THE YEAR TO 31 DECEMBER 2025

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 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 eight 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; there is another committee reporting to the Trustees which organises events for members.

REFERENCE AND ADMINISTRATIVE INFORMATION

TRUSTEES

Trustees who served during the period were:

Ed Anderson - (appointed 17 October 2025, appointed Chairman from 1 January 2026) Tom Ramsden – Chairman (resigned 1 January 2026)

Richard Bailey – Treasurer

Robert Beaumont (resigned 1 March 2025)

Joel Brookfield Moira Fulton (retired 28 October 2025) Kate Giles Sylvia Johnson – Chairman of Grants committee Clive Lloyd Rory Wardroper (retired 28 October 2025) Michael Wildblood (reappointed 28 October 2025)

Treasurer Secretary (principal address) Grant Secretary Investment Managers Richard Bailey Mrs Vanessa White Jonathan Stamp LGT Wealth Management 2 Dalton Terrace 77 Silverdale Drive 5 Jubilee Drive Minerva House York Guiseley Consett 29 East Parade YO24 4DA Leeds Co. Durham Leeds LS20 8BE DH8 7BW LS1 5PS

Bankers Solicitors Independent Examiner Co-operative Bank Lupton Fawcett Sarah Wearing FCA PO Box 101 Stamford House HPH 1 Balloon Street Piccadilly Chartered Accountants Manchester York 54 Bootham M60 4EP YO1 9PP York YO30 7XZ

THE YORKSHIRE HISTORIC CHURCHES TRUST (Registered charity 1175099)

TRUSTEES REPORT FOR THE YEAR TO 31 DECEMBER 2025

Approved by the Trustees on 1 May 2026 and signed on behalf of the Charity by:

…………………………………………………………….

Ed Anderson (Chairman)

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 2025.

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:

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

1 May 2026

THE YORKSHIRE HISTORIC CHURCHES TRUST RECEIPTS AND PAYMENTS ACCOUNT FOR THE YEAR TO 31 DECEMBER 2025

Note GENERAL FUND Receipts Donations and Legacies Donations and Subscriptions Church Collections Grants from charitable trusts 3 Gift Aid tax reclaim Yorkshire Churches Day Legacies and Bequests Other activities Sponsored event Events Financial activities Interest on deposits Total receipts Payments Charitable Activities Grants to churches 4 Sponsored ride - repaid to churches Yorkshire Churches Day Raising funds Events Administration costs 9 Administration of grants Administration of membership Administration of charity Total payments Net (Payments)/Receipts before transfer Transfer of income from Investment Fund Transfer of bequests from Investment Fund Transfer of capital from Investment Fund Transfer of bequests to Investment Fund Net (Payments)/Receipts after transfers INVESTMENT FUND Receipts Income of Investment Fund Sale of investments Capital receipts Payments Purchase of investments Investment management fees Net Receipts before transfer Transfer of bequests to Investment Fund Transfer of income to General Fund Transfer of bequests to General Fund Transfer of capital to General Fund Net Receipts after transfers Reconciliation of Funds Total Funds brought forward Net (payments)/receipts Total cash funds carried forward	Restricted Funds 2025 £ - - - - - - - - - - 42,000 - - - - - - 42,000 (42,000) - - - - (42,000) - - - - - - - - - - - - 51,000 (42,000) 9,000	Unrestricted Funds 2025 £ 15,345 - 75,750 2,662 308 1,000 870 2,129 12,466 110,530 137,058 428 156 722 4,792 2,000 14,101 159,257 (48,727) 34,694 13,608 5,026 - 4,601 34,864 195,686 132,342 362,892 272,077 8,617 280,694 82,198 (34,864) (13,608) (4,856) 28,870 324,922 33,471 358,393	Total Funds 2025 £ 15,345 - 75,750 2,662 308 1,000 870 2,129 12,466 110,530 179,058 428 156 722 4,792 2,000 14,101 201,257 (90,727) 34,694 13,608 5,026 - (37,399) 34,864 195,686 132,342 362,892 272,077 8,617 280,694 82,198 (34,864) (13,608) (4,856) 28,870 375,922 (8,529) 367,393	Total Funds 2024 £ 20,530 448 100,650 4,477 510 35,313 3,463 2,912 12,541
				180,844
				130,964 1,774 77 857 4,667 3,400 12,543
				154,282
				26,562 35,313 13,319 3,423 (34,950)
				43,667
				35,313 175,715 32,600
				243,628
				183,178 9,428
				192,606
				51,022 34,950 (35,313) (13,319) (3,423)
				33,917
				298,338 77,584
				375,922

The Notes on pages 8-12 form part of these financial statements.

THE YORKSHIRE HISTORIC CHURCHES TRUST ASSETS AND LIABILITIES AT 31 DECEMBER 2025

Note CASH ASSETS 12 Bank Deposits Current Account Deposit within Investment Fund Income within Investment Fund Total Cash Assets INVESTMENT ASSETS Investments 13 TOTAL ASSETS LIABILITIES Amounts falling due within one year Grants to churches 6 TOTAL LIABILITIES NET ASSETS THE FUNDS OF THE CHARITY Investment Fund 13 Grant Fund 8 Assets Liabilities General Fund TOTAL CHARITY FUNDS Central Board of Finance of the Church of England - Deposit Fund	Restricted Funds 2025 - 9,000 - - - 9,000 - 9,000 8,000 8,000 1,000 - 9,000 8,000 1,000 - 1,000	Unrestricted Funds 2025 £ 122,869 167,736 1,087 31,014 35,687 358,393 1,209,199 1,567,592 191,426 191,426 1,376,166 1,275,900 336,871 191,426 145,445 (45,179) 1,376,166	Total Funds 2025 122,869 176,736 1,087 31,014 35,687 367,393 1,209,199 1,576,592 199,426 199,426 1,377,166 1,275,900 345,871 199,426 146,445 (45,179) 1,377,166	Total Funds 2024 £ 165,641 171,724 727 22,008 15,822
				375,922
				1,149,816
				1,525,738
				184,200
				184,200

				1,341,538
				1,187,646 388,200 184,200
				204,000 (50,108)
				1,341,538

The Notes on pages 8 to 12 form part of these financial statements.

Approved by the Trustees on 1 May 2026

E J S ANDERSON R C BAILEY Chairman Treasurer

THE YORKSHIRE HISTORIC CHURCHES TRUST

NOTES TO THE ACCOUNTS FOR THE YEAR TO 31 DECEMBER 2025

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 no longer offered. Life membership and advance subscriptions not yet recognised by the predecessor trust were recognised by the charity in an earlier period.

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.

THE YORKSHIRE HISTORIC CHURCHES TRUST NOTES TO THE ACCOUNTS FOR THE YEAR TO 31 DECEMBER 2025

2025 Restricted Funds £ - - -	2025 Unrestricted Funds £ 75,000 - 750	2025 Total Funds £ 75,000 - 750	2024 Total Funds £ 75,000 25,000 650
-	75,750	75,750	100,650
	£ 5,000 5,000 3,000 - 5,000 8,000 1,000 - 8,000 7,000 5,000 2,000 1,500 300 8,000 7,000 3,000 6,000 5,758 6,000 2,500 - - 4,000 2,500 2,000 7,000 3,500 8,000 8,000 2,000 5,000 1,000 - 5,000 - -	£ 5,000 5,000 3,000 9,000 5,000 8,000 1,000 3,000 8,000 7,000 5,000 2,000 1,500 300 8,000 7,000 3,000 6,000 5,758 6,000 2,500 6,000 6,000 4,000 2,500 2,000 7,000 3,500 8,000 8,000 2,000 5,000 1,000 3,000 5,000 15,000 -	£ - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 130,964
42,000	137,058	179,058	130,964

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

THE YORKSHIRE HISTORIC CHURCHES TRUST NOTES TO THE ACCOUNTS FOR THE YEAR TO 31 DECEMBER 2025

2025 Restricted Funds £ 5,000	2025 Unrestricted Funds £ -	2025 Total Funds £ 5,000	2024 Total Funds £ -
5,000	-	5,000	-
£ - - - - - - - - - - 2,000 - - - - - 5,000 - 1,000 - - - - - - - - - - - - - - - - - - - - - -	£ 7,500 3,000 8,000 5,000 500 5,000 6,000 2,000 4,000 8,000 - 5,000 7,500 1,900 10,000 6,000 - 8,000 - 5,526 7,000 1,000 5,000 12,000 8,000 1,000 4,000 7,000 4,000 10,000 5,000 8,000 2,000 1,000 3,000 500 3,000 5,000 7,000 5,000 -	£ 7,500 3,000 8,000 5,000 500 5,000 6,000 2,000 4,000 8,000 2,000 5,000 7,500 1,900 10,000 6,000 5,000 8,000 1,000 5,526 7,000 1,000 5,000 12,000 8,000 1,000 4,000 7,000 4,000 10,000 5,000 8,000 2,000 1,000 3,000 500 3,000 5,000 7,000 5,000 -	£ - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 184,200
8,000	191,426	199,426	184,200

THE YORKSHIRE HISTORIC CHURCHES TRUST NOTES TO THE ACCOUNTS FOR THE YEAR TO 31 DECEMBER 2025

2025 Restricted Funds £ -	2025 Unrestricted Funds £ -	2025 2024 Total Funds Total Funds £ £ - 26,000
-	-	- 26,000
£ 26,000 29,000 (42,000) (5,000)	£ 158,200 170,284 (137,058) -	£ £ 184,200 131,964 199,284 183,200 (179,058) (130,964) (5,000) -
	191,426 - 5,529 139,916	199,426 184,200 - 26,000 6,529 3,284 139,916 174,716
9,000	336,871	345,871 388,200
		£ £ 4,792 4,570 - 97
		4,792 4,667
		2,000 3,400
		2,000 3,400
		176 196 10,000 8,600 897 705 1,599 1,560 1,044 1,044 385 438
		14,101 12,543
		4,591 £ 4,507 £ 1 1

11 TRUSTEES EXPENSES

No reimbursement was made to trustees (2024: £16) No Trustee nor any person connected with them may receive any remuneration directly or indirectly from the Charity's funds.

THE YORKSHIRE HISTORIC CHURCHES TRUST NOTES TO THE ACCOUNTS FOR THE YEAR TO 31 DECEMBER 2025

12 BANK DEPOSITS Charity Bank Co-operative Bank - Business deposit account Hampshire Trust Bank 1-year bond to 6/3/26 Hampshire Trust Bank 1-year bond to 24/6/26 United Trust Bank - 1 year bond to 24/6/26 United Trust Bank - 2 year bond to 13/1/27 United Trust Bank - 2 year bond to 24/6/27 United Trust Bank - 2 year bond to 11/11/27 United Trust Bank - 1 year bond to 13/1/25 United Trust Bank - 1 year bond to 24/6/25 United Trust Bank - 1 year bond to 11/11/25 CURRENT ACCOUNT Co-operative Bank 13 INVESTMENTS Quoted Investments Market Value at 1 January 2025 Market Value at 31 December 2025 Historical Cost at 31 December 2025 Investments held at 31 December 2025 by category are: UK Government Bonds UK Bond Funds Global Bond Funds UK Corporate Bonds UK Equities UK Property Funds European Equities North American Equities Asian Equities Foreign & Global Funds Alternatives and Infastructure	31 December 2025 £ - 49,650 25,000 25,000 41,344 15,742 10,000 10,000 - - - 176,736 1,087 1,149,816 1,209,199 879,309 101,830 - 94,176 - 261,157 - 239,891 361,688 99,093 5,771 45,593 1,209,199	31 December 2024 £ 14,829 71,223 - - - - - - 15,000 48,876 21,796
		171,724
		727
		1,124,444
		1,149,816
		944,739
		96,670 101,564 21,076 5,172 203,162 7,616 226,296 328,702 75,944 8,466 75,148
		1,149,816

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