**Charity Registration number - 1180641**
## **FRIENDS OF ST MARY OF CHARITY, FAVERSHAM CIO**
**TRUSTEES' REPORT AND ACCOUNTS**
**FOR THE YEAR ENDED TO 31ST DECEMBER 2023**
**FRIENDS OF ST MARY OF CHARITY, FAVERSHAM CIO YEAR ENDED 31ST DECEMBER 2023**
||**Page**|
|---|---|
|Legal and Administrative Information|1|
|Trustees' Report|2-4|
|Statement of Financial Activities|5|
|Balance Sheet|6|
|Notes to the Accounts|7-8|
**FRIENDS OF ST MARY OF CHARITY, FAVERSHAM CIO**
Page 1
## **LEGAL AND ADMINISTRATIVE INFORMATION YEAR ENDED 31ST DECEMBER 2023**
## **Trustees**
Mr Harold J Goodwin Chair of Trustees Mr Michael J Moore Treasurer Ms Catriona Cuthbert Mr Clive Southwell Rev Simon D Rowlands Mr David H S Simmons Mr Kevin R Swinney
**Charity Number** 1180641 **Correspondence Address** 15 Preston Park Faversham Kent ME13 8LH
## **Bankers**
National Westminster Bank plc
**FRIENDS OF ST MARY OF CHARITY, FAVERSHAM CIO**
Page 2
**TRUSTEES' REPORT YEAR ENDED 31ST DECEMBER 2023**
The Trustees of the Charity present their annual report and accounts of the Charity for the year ended 31st December 2023.
## **Governing Document and Constitution**
The Charity is a Charitable Incorporated Organisation and is governed by a constitution adopted on the 12th November 2018.
## **Organisation Structure**
The Charity is managed by a Board of Trustees which meet regularly . The Trustees of the Charity are listed on the legal and administrative page.
## **Objectives and Activities for Public Benefit**
The Charity's objectives are to promote the religious and other charitable work of the Church of England by providing additional support for all or any of the charitable purposes to which the revenues of the PCC are applicable, including especially the restoration of the ancient stained glass and of the stone work of the parish church of St Mary of Charity, Faversham and the general maintenance of the said church.
The Trustees confirm that they have referred to the guidance contained at the Charity Commissioner's general guidance on public benefit when reviewing the Charity's objectives.
## **Achievements and Performance**
The Friends exists to help raise the profile of the church within the community and to generate funds for the church. There has been a drive towards generating monies for the Kitchen and Accessible Toilets project. The Chair of the Charity Professor Emeritus Harold Goodwin, who was also the Chair of the Faversham Society, together with Catriona Cuthbert, Mike Moore (as Treasurer) and Kevin Swinney formed a committee with support from Rev Simon Rowlands to raise funds in the year..
The Charity organised a concert by Sarah Mcquaid a popular folk singer with an international reputation. This was attended by around 70 people. From this several lessons were learnt in the hosting of events in the church. The event was successful and raised monies for the Charity.
The major activity has been the creation of the Open Faversham ‘Festival’, which ran from August 12th to 20th.
The initial idea for Open Faversham came from our Chair and was discussed in March 2023 The idea was to create a series of events under the ‘umbrella’ of Open Faversham. It was hoped to have around 12 events which could be held, some in St Mary of Charity and others in the town. The main aims were to put the church at the centre of the town/events, to attract visitors into the church and the town, to generate funds for the church. Open Faversham would only create publicity via a website and leaflet for events that would be run by local organisers. The responsibility for the insurance and safe running of events fell outside the responsibility of Open Faverham.
**FRIENDS OF ST MARY OF CHARITY, FAVERSHAM CIO**
Page 3
**TRUSTEES' REPORT YEAR ENDED 31ST DECEMBER 2023**
## **Achievements and Performance (continued)**
Local groups were asked to organise events which would then be included in the programme, on the website and the leaflet. Considerable work was done by Harold and Catriona to create the leaflet, which gave details of over 60 events, their time, date and location. 10, 000 of these leaflets were distributed, mostly by door-to-door delivery. A significant number were handed out in the town centre on the 2 Saturdays before the start of Open Faversham.
For Open Faversham there were a range of different events held in the church for the 9 days. This included a concert by Geoff Sandiford, examining the life of Arden of Faversham, we had a display from Gunpowder WI of Post Box Toppers, a display of historic maps. There were several talks around the history of the church and local events. We also used it as an opportunity to display the churches historic flagons and other silver that have for many years been in the vault of the Nat West Bank. These events and the cafes that were run on the 2 Saturdays attracted over 1000 people into the church and raised over £2000. Interestingly many of the people visiting the church were doing so for the first time.
The number of events held for Open Faversham exceeded 60, using 12 venues, making it one of the biggest events held in Faversham in 2023. The running and financing of Open Faversham was supported by the Faversham Society. To assist in running of future Open Faversham events a bid for £2,755 was made to Faversham Town Council, which was approved. The Town Council has now become part of the group running Open Faversham.
## **Plans for the Future**
After a second very successful Open Faversha inn 2024 it is hoped that this will be a regular event in Faversham
Moving forward it is hoped to expand the membership for the Friends of St Mary of Charity with an annual fee to help generate further funds. It would be most welcome if anyone would like to join the Board of Trustees to assist in helping organise future events, please contact Kevin Swinney or Catriona Cuthbert..
**FRIENDS OF ST MARY OF CHARITY, FAVERSHAM CIO**
Page 4
## **TRUSTEES' REPORT YEAR ENDED 31ST DECEMBER 2023**
## **Financial Review**
The accounts have been prepared on an accruals basis so as to reflect the true financial position of the Charity. The results are shown on page 5
## **Reserves Policy**
The Trustees continue to look for new sources of income to build up their reserves, ideally to a minimum of six months expenditure
## **Risk management**
During the period the Trustees have reviewed all major risks which the Charity could suffer and confirm all necessary action has been taken to mitigate.
We thank all those who have given their time and support over the period in helping us to achieve the aims of the Charity.
Signed on behalf of the Trustees on 9th October 2024
……………………………………… Mr Harold J Goodwin Chair of Trustees
**FRIENDS OF ST MARY OF CHARITY, FAVERSHAM CIO**
Page 5
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2023**
|**Income:**
**_Voluntary income:_**
Subscriptions
Donations and Grants
Income from Concerts
**Total incoming resources**
**Expenditure**
**_Expenditure on charitable activities_**
Cost of concerts
**Total Expenditure**
**Net income(expenditure)**
**Net movement in funds**
**Reconciliation of Funds**
**Total fund brought forward**
**Total fund carried forward**|**Unrestricted**
**Funds**
**£**
245
-
3,110
3355
-
-
3,355
3,355
2912
6,267|**Restricted**
**Funds**
**£**
-
2,755
-
2755
1,356
1,356
1,399
1,399
-
1,399|**Total**
**Funds**
**£**
245
2,755
3,110
6,110
1,356
1,356
4,754
4,754
2,912
7,666|**2022**
**Total**
**Funds**
**£**
215
10
1,649|
|---|---|---|---|---|
|||||1,874|
|||||1,012|
|||||1,012|
|||||862|
|||||862
2,050|
|||||2,912|
**FRIENDS OF ST MARY OF CHARITY, FAVERSHAM CIO**
Page 6
## **BALANCE SHEET AS AT 31ST DECEMBER 2023**
|**Fixed assets**
**_Tangible assets_**
**Current assets**
Debtors and prepayments
Current account
Cash in Hand
**Total Current Assets**
**Liabilities**
Creditors falling due within one year
**Net current assets**
**Net Assets**
**The Funds of the Charity**
Unrestricted funds
Restricted Funds
**Total Charity Funds**|**2023**
**£**
-
7,666
-
7,666
-
-|**2023**
**£**
7,666
7,666
6,267
1,399
7,666|**2022**
**£**
-
2,912
-
2,912
-
-|**2022**
**£**
2,912|
|---|---|---|---|---|
|||||2,912|
|||||2,912
-|
|||||2,912|
Signed on behalf of the Trustees on 9th October 2024 by
……………………………….
M J Goodwin - Chair of Trustees
…………………………………. M J Moore, FCA - Treasurer
**Charity Registration number**
**1180641**
**FRIENDS OF ST MARY OF CHARITY, FAVERSHAM CIO**
Page 7
## **NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2023**
## 1 **Accounting policies**
The Principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial are as follows:
## a) _**Basis of preparation**_
The accounts have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard for Smaller Entities published on 16th July 2014, the Financial Reporting Standard for Smaller Entities (effective January 2015). Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s)
The financial statements are prepared on a going concern basis. There are no material uncertainties related to events or conditions which would cast doubt on the Charity's ability to continue as a going concern
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
## b) _**Incoming resources**_
## _**Income recognition policies**_
Items of income are recognised and included in the accounts when all the following criteria are met:
- the charity have entitlement to the funds;
- any performance conditions attached to the item(s) of income have been met or are fully within the control of the Charity.
- there is sufficient certainty that receipt of the income is considered probable; and
- the amount can be measured reliably
## _**Incoming resources with related expenditure**_
When incoming resources have related expenditure the incoming resources and related expenditure are reported in the SOFA.
## _**Donations**_
Donations are only included in the SOFA when the charity has unconditional entitlement to the resources.
## _**Tax reclaims on donations and gifts**_
Incoming resources from tax reclaims are included in the SOFA at the same time as the gift to which they relate.
## **c) Resources expended**
All resources expended are recognised once there is a legal or constructive obligation to make a payment to a third party. Resources expended include attributable VAT which cannot be recovered.
## **d) Fund accounting**
Unrestricted funds are donations and other incoming resources receivable or generated for the objects of the charity without further specified purpose and are available as general funds.
Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets this criteria is charged to the fund.
**FRIENDS OF ST MARY OF CHARITY, FAVERSHAM CIO**
Page 8
## **NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2023**
## **Restricted and Designated Funds**
|**Restricted and Designated Funds**||||
|---|---|---|---|
|_Restricted_
Open Faversham
Unrestricted funds
Total Funds|**Balance at**
**Incoming**
**Outgoing**
**01/01/2023**
**resources**
**resources**
**£**
**£**
1,399
2,755
(1,356)
6,267
3,355
-
7,666
6,110
(1,356)|**Transfers**
**£**
-
-
-|**31/12/23**
**£**
1,399
9,622|
||||11,021|
Restricted Fund Open Faversham A Grant provided by Faversham Town Council to finance costs of Open Faversham in 2023 and subsequent years.