**Charity Registration number - 1180641**
**FRIENDS OF ST MARY OF CHARITY, FAVERSHAM CIO**
**TRUSTEES' REPORT AND ACCOUNTS**
**FOR THE YEAR ENDED TO 31ST DECEMBER 2024**
**FRIENDS OF ST MARY OF CHARITY, FAVERSHAM CIO YEAR ENDED 31ST DECEMBER 2024**
||**Page**|
|---|---|
|Legal and Administrative Information|1|
|Trustees' Report|2-3|
|Statement of Financial Activities|4|
|Balance Sheet|5|
|Notes to the Accounts|6-7|
**FRIENDS OF ST MARY OF CHARITY, FAVERSHAM CIO**
Page 1
## **LEGAL AND ADMINISTRATIVE INFORMATION YEAR ENDED 31ST DECEMBER 2024**
## **Trustees**
Mr Harold J Goodwin Chair of Trustees Mr Michael J Moore Treasurer Ms Catriona Cuthbert Rev Simon D Rowlands Mr David H S Simmons Mr Kevin R Swinney
## **Charity Number**
## **Correspondence Address**
1180641 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 2024.
## **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 group exists to help raise the profile of the church within the community and to generate funds for its maintenance and development. Amongst the main intensions were to put the church at the centre of the town/events, to attract visitors into the church, to generate funds.
The bulk of the Friends activities have been aimed at Open Faversham this is an umbrella to 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 Faversham.
The Open Faversham reached out to local organisations to encourage them to hold events during the 9 days of events in August. The details of these would be included on the website https://openfaversham.info/ and a publicity leaflet. This was distributed to around 10 000 homes in and around Faversham. Open Faversham has been generously supported by a grant from the Faversham Town Council. At St Mary of Charity 2 concerts were held, one by Geoff Sandiford and another by 2 local Shanty choirs. Exhibitions were held in church over the 9 days including by the Gunpowder WI of their Post Box toppers. We also held 2 cafes, which alongside ticket sales help raise over £3 000 for the Kitchen and toilet project.
Additionally, in February we ran a bar/cafe for all the Literary Festival held in church, with the generous support of several people from the congregation. This proved popular, again raising useful funds.
**FRIENDS OF ST MARY OF CHARITY, FAVERSHAM CIO**
Page 3
**TRUSTEES' REPORT YEAR ENDED 31ST DECEMBER 2024**
## **Achievements and Performance (continued)**
In September the Friends hosted ‘A Time to Morne, A Time to Dance’ a contemporary dance event in church. This was generously sponsored by several members of the congregation.
## **Plans for the Future**
The plans for 2025 will focus on another Open Faversham as a vehicle to create further income for the church. We will also support the Literary Festival with providing refreshments.
## **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 10th October 2025
……………………………………… Mr Kevin Swinney Trustee
**FRIENDS OF ST MARY OF CHARITY, FAVERSHAM CIO**
Page 4
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2024**
|**Income:**
**_Voluntary income:_**
Subscriptions
Donations and Grants
Income from Events
**Total incoming resources**
**Expenditure**
**_Expenditure on charitable activities_**
Cost of concert and Open Faversham
Charitable Grants
**Total Expenditure**
**Net income(expenditure)**
**Transfer between funds**
**Net movement in funds**
**Reconciliation of Funds**
**Total fund brought forward**
**Total fund carried forward**|**Unrestricted**
**Funds**
**£**
215
1,000
4,667
5882
2,859
7,000
9,859
(3,977)
1,399
(2,578)
6267
3,689|**Restricted**
**Funds**
**£**
-
-
-
-
-
-
-
-
(1,399)
(1,399)
1399
-|**Total**
**Funds**
**£**
215
1,000
4,667
5,882
2,859
7,000
9,859
(3,977)
(3,977)
7,666
3,689|**2023**
**Total**
**Funds**
**£**
245
2,755
3,110|
|---|---|---|---|---|
|||||6,110|
|||||1,356
-|
|||||1,356|
|||||4,754|
|||||4,754
2,912|
|||||7,666|
**FRIENDS OF ST MARY OF CHARITY, FAVERSHAM CIO**
Page 5
## **BALANCE SHEET AS AT 31ST DECEMBER 2024**
|**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**|**2024**
**£**
-
3,733
-
3,733
44
3689|**2024**
**£**
3,689
3,689
3,689
-
3,689|**2023**
**£**
-
7,666
-
7,666
-
-|**2023**
**£**
7,666|
|---|---|---|---|---|
|||||2,912|
|||||6,267
1,399|
|||||7,666|
Signed on behalf of the Trustees on 10th October 2025 by
……………………………….
K Swinney -Trustee
…………………………………. M J Moore, FCA - Treasurer
**Charity Registration number**
**1180641**
**FRIENDS OF ST MARY OF CHARITY, FAVERSHAM CIO**
Page 6
**NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2024**
## 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**_ g relate.
g
y
## **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 7
## **NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2024**
## **Restricted and Designated Funds**
|**Restricted and Designated Funds**||||
|---|---|---|---|
|_Restricted_
Open Faversham
Unrestricted funds
Total Funds|**Balance at**
**Incoming**
**Outgoing**
**01/01/2024**
**resources resources**
**£**
**£**
1,399
6,267
5,882
(9,859)
7,666
5,882
(9,859)|**Transfers**
**£**
(1,399)
1,399
-|**31/12/24**
**£**
0
3,689|
||||3,689|
Restricted Fund Open Faversham A Grant provided by Faversham Town Council to finance costs of Open Faversham in 2023 and subsequent years.