mailes Goldie CHAR TERED ACCOUNT ANTS REGISTERED CHARITY NUMBER:1185773 REGISTERED COMPANY NUMBER: 12120938 Two Churches One Town Unaudited Financial Statements 31 December 2024 ICAEW CHARTERED AccouNfANTS
Two Churches One Town Contents of the Financlal Stalements for the ygar and 31st Docembgr 2024 Reference and Admlnlslrailvè D4ts118 1 to 2 Rgport of the Tru3tges 3 to 5 Independent Examinèrfs Report statsment of Flnanclal Activltle8 Balance Shget 8 to 9 Notes to the Flnanclal Statamants 10 to 15
Two Chur¢hes Onè Tovm Reference and Administratlva Detalls for the year ended 31st December 2024 TRUSTEES Rev.Can¢)n J W Baker MrT J Catlisle Ms C Cenjtb Mr K Gilson Mr M C S Hall- Chainn8n Mr D R Kllburn RevRALum MrALMa Mr M J Smith Mr R l Townsend COMPANY SECRETARY Wilknn Chapman Rolllls Cttadel House 58 High Street Hull HU1 1QE REGISTERED OFFICE Wilknn Chapman RollÉls Citadd Hc)us& 58 High Street Hull HU1 1QE REGISTERED COMPANY NUMBER 12120938 (EngL3nd and Wales) REGISTERED CHARrrY NUMBER 1185773 INDEPENDENT EXAMINER Smalles G(4(fie C*artered Accwntants Rewys Court princ Street Hull HU2 8BA BANKERS Santander UK PLC ep8 King Edward Street Hull HU13SS soucrroRS Wiln Chapman Rdlits. Citaet House, 58 HHJh Str8&t Hull HU1 1QE Page 1
Two Churches One Town Reference and Admlnlstratlvo Dotslls for the y8ar ended 31st December 2024 ADVISERS AhIte(l to both thurches: dy Burr8fl Archiiecture Ltd 169 Westem Fload Haywards Heath West Sussex RH16 3LH SuTveyor to Bever]ey Minster. Ccoper & Hall Limited Ycwk Htyjse Tadcaslw Enteri8e Park Slatitm Road Tadcast LS24 9JF Survey(x to Sl Mary'$ Church: Brun(ktl wAleY Ltd The Terrace Grantham Street ncdn LN2 18D
TV Churches Ono Toyffl Report of th8 Trustees for the year ended 31st Dgcgmbor 2024 The trustees who are also directors of the chatity for Ihe purposes of the Companies Act 2006, presonl thèir report ilh the finan(xal slalemerrts of the tharity fDr fhe year ended 31st Dmber 2024. The Iruslees have adopted Ihe provisions of Accounting and Reporting by Charities.. Ststement of Recomtnended Practi applicable lo charities preparing their 8ccxxJnts IA a(ord8nce wth th8 Fin8n(xal R8portsng Standard appIlble in tho UK and Republlc of Ireland (FRS 102} (effective 1 January 20191. OBJECTVrfES AND ACTivrriES ObjÈetives and aims Our charity's purposes as s8t out in Ihe otyecas contsined in the wmpanls Are$ of Assoc4al1c are.. 11 lo prere for the public benefft the thurch8s known as 8ev8rl8y Minstsr and SL Mary's Church, 8everfey 21 tho advancement of UCatIon of the public by: the promotion of the Churches as plac8s cl he1896 faomlitating an improved urKJerslanding of the heritag8 tha provisi( for the develcpmenl of thlls 3) the promclion of th8 arts for the pu[0 benefit in B8verfey and Ihe rr(MInding arèa. b) The aims d our charity are to pres8rv8 an(J keep safe for all. B8verfey Minster and St Mary's Church and lo nurtur¢ and grow the unTque, lasl'ng links of Htage. Music and Leaming that Lmnd the churches and the town. The trustees in making decIOn$ about what tho charrty has dr& during the peri( lo cary out these purposes for the public benefit have had due regard lo the Charity Commission's public tsenefil guidarKe vA)en exer(xsing any powers or duties to which the guidan is rdevant. Ensuring ourwork delive our aims We revlew our aims. objeGtives and aGtivilies each yew. This rewew hxks al what we athieveLI and the out( of our w(Kk during 2024. The r@view looks al the ¢¢esS of ead) key 8Ctiwty and the benefits each one has brought lo thos& groups of people we are committed to ITelp. Ihe review dso helps us to ensure our aims, obj8clives and actiwkn'es remained focused on our staled purpos8s. W8 have referred to the guidan contained in the Charity Commission's general guidance on public benefit when rewwng our aims and objectives and in planning wr future actiwti8s. In particular, the tru8t8es nSider how plann1 activities wll contribute lo the aims and objeGtives they have set. The focus of our work Our maln objgctives dUrir the 0d were sec#Jring fUnd8th9 restoration at Beverfey Minsterand St. Mary's, BOV&y.1n.accOrdance wth the.works $8t out in the arthitect's hedule. The stral8g19s wo have used and a developing lo meet these objectives indude: Producing an Uated Mdeo highlighting Ihe important Part the Iwo Churchès play in tre Ial community. Supporting bié submissTons to granl making trusts: in parti(xJlar Th& Natal Lottery Heritage Fund. Creating connects'ons wtlh local busine&%es and net worth individuals. Assisting both churches with their legacy and WL1$ pdiLies. Publlc banefit We will deliver public b6nefrt by saving thls prilesS hffiitage ar keeping the buildings op8n avaryone and safe and fr69 to visil. The Mins18rne8ds ess8nti81 repairs to the leaking rf and wrKJows. Sl. Mary's needs urgent repairs lo its stonework. The current restoration projeet lo preserve the heritage will cost circa. £20 million over a len year period. The restordllon wll enaNe us to preserve and grow tha MUS and leaming opportuniti68 fl¢)wing from the buildings. We wore SUC&sful in the year in attractirvJ tionS from grdnt mak(ng tNsts and from Indfviduals. We cA)nlinue lo update our webstte. www.beverfeyhv(xurches.co.uk, whTrch explains cr 8Ctiviliè8 to our stakeholders. The website enables people to vdunteer and to make a don*ion. We wuld not have achieved this sucsS Wthout the sup1 of wr tNs18es, officws, friends and vdunteers and I would like to record our 8incere thanks io them 811. Page 3
Two Churthes One Town Rgport of the Trustees for the year ended 31st D8mber 2024 FINANCIAL REVIEW Financlal posltion The charity has generated lolal income for the year of £113:47012023." £128.9471 and funds Icalled £219,791 at 31st December 202412023.. £170,411). The trustees consider the filla1 px)sition of the Charity at the end of the y8ar to be acceptable. In addition lo the in(x)me rgnIj In these fin8Thial statnents. the charity also assists in the applications for grants on behalf of the PCC'S of Sl Marls or The Minster. The contractual relationship for suth grants is ttween th8 Donor and th8 PCC ol Sl Mary's or The Minster. Thè funds sred wEre paid dIreCY to the specific PCC and therefore are not induded in these flnanc4al ststements or were paid to Two Churches One Town I'TCOT") and then reimbursed to the PCC'S of Sl Mary's orTh8 Minster. Reserves policy This is th8 r8s8rves policyforTCOT. This polw has been dr8fted aftero)n&dering the Charity Commission guidance 'charlly reserves.. building resilienGe (CC191', published irs January 2016 and updated in June 2023. Thi8 guidance as reviewed and updated by the Charity Commission in tts papor 'charity reserves policies". demonstralir@ and building resilience,. published in vember 2018 and also Updat in June 2023. TCOTwas established in July 2019 . and this is th8 Reserves Policy th8 trust88s hav8 adopted that date. It is the trustees, intention lo hold 8ufficienl -.reserves lo Undtake an winding up of the charity shouhl this become neGessary. S(xne monies raised by TCOT are restricted funds sel aside to meet agreed future distribubon, such as the r8Storation projects pr8vbuY agreed. This policy.will conser thg r8setV8s of unresthd8d funds to be hdd and theref¢Ye fBStriG1j funds are excluded. The policy was last reeWed on 31 Decemtr 2024. Funds Unrestrfcted fund$ r8s8rv• On 31st December 2024 unrestrthd fvnds were £189.113. Two Churches One Town (TCOT) does not own any "fixed assets..The.truslee>have.agreed lo set aside £5,000 of unreslrKled funds as a futurg reserve. This is considered lo be sufficient to meet TCOTS outstsnding liabililies. shwldll 88 ils activities. RgStrict•d funds reserve - On 31st. December 2024 restricted funds were £30,678. These funds represent donations recewed specrfically rastri¢led to the indiwdual Churches as indicat8d in not8 12. After condenT)g the Charity Commission's guidancE. the Iruslees do not consider that restricted funds shc¥Jki held in reseNe for the future. Should TCOT cease operations, the tnjsleeSII uSe.thr best endeavours to distn.buie restn.cted funds wthout undue delay. Investment of reserves Reserves of unrestricted funds wll be held in an inter6St bearing alxountith not morg than month's wilhthawal noti. This account wll be held wth Tcofs banl fAJrrenty Sant8nder PLC. STRUGTURE, GOVERNANCE AND MPJIAGEMEKr Governing do¢umgnt The organi58tion is a charitable company limited by guarantee, inccffpryaled ¢)D 24th Juty 2019 and r4ist&d as a charity on 14th October 2019. The company was establi%hed under a Memorandum of Assctiation bthich established the objects and powers ol thè charitabl8 company and is govemed under its Artides of Asscuation. Racrultmenl and apFJointment of new trustees The directors of the company are also charity trustees fc the purpose8 of charity law. In seleGtin9 ifKlividuals fc appointment as charity Irustees. the trustees V•ill have regard to the skills, knwledge and experience needed for the effectwe aéministration of the chartty. One third lor tha number nearest ce thirdl of twstees. other than the ex-offiryo Tnjstees, musl r8tire al each annual Iruste&s' m88ting, thosg long8St in Offic ret'ring first and Ihe (*1 betw any of equal seNi¢2 ing made by drawing lols. Mr M J Smith, Mr M C S Hall and Ms C CenJNi wEre appointed as trustees Im 1st October 2024. Al tsustees give their time v(Auntary and receive no teneffts from the company. Pag8 4
Two Churches One Tovm Rèport of the Trustees for the year ended 31st December 2024 STRUCTURE, GOVERNANCE AND MANAGEMEKr Organisational structurè The charlly operates with a full time Direthr of Fundraising a part time Head of Granls, a volunteer team Iwking after the Leaming, Music and Heritsge segments. and one in finan. The role of ccthpany secretsry Is outsrtsd ID Wilkln Chapman Rollits. sk managamont The trustees have condwtgd a remew of the major ri*s lo which the chaiity is exposéd. A risk register has been established 8nd wll ba reviewed annually. The last annual revw Wds June 2025. Wh8r8 approwiate, systems or prwgdures will be establigied lo mitigate the risks tha tharity far. STATEMENT OF TRUSTEES. RESPONS181LITIES The Injslees (who are also the directors of Two Churthes One T(Mn for Ihe purposes of company lawl are responsible far pr8paring the Report of the TnJslees and the finanoal ststemonls In accordance with applicable law and United Kingdom Accounting Standards {United Trfjngdom Generally Acj ACuntIftg Practi) induding Flnancial Reporting Standard 102"The Finanoal Repyting Standard applicable in the UK and Republic of Irend.. Company law requires the trustees lo prepare finanryal statements for each finarKaal year give a true and fair vlew of the state of affairs of the charitabl8 company and of the inIng and appli(zt1c of reswrcas, including the income and expend" itu"re,"or thè tharitable Lxmnpany that period. In preparing those finantrAal slatomenl& the trustees are requir to select suilabl8 a(wunling pdioes and then apFAy th con&stentty. observ6 the methods arKI prin(?ples in the Charity SORP.. make judgements and estimates that are 8$onable and PrUdL prepare the finanaal StatemlS on the going (x)nc8m basis unless rt is inappropriate to pume that the charftable compary 11 continuè in Iwsiness. . The trustees are responsible for keeping proper awounting rec(dS 1¢h disclose wlh reasonable aC[ra al any time the finanoal posibon of the charitabl8 CA)mpany and lo enable them to ènsure thal the finanual slalements comply with the Companies Act 2006. They are also r85ponsible f( safeguarding th8 assets of the charitsble company and h8nc8 fty lakiThJ reas(able steps tha prevention and dettn of fraud and other irregularitie& Approved by order of the b08rd.oflrust on ............. and Sgned C tts bghalf by.. Mr M C S Hall - Trustee Page 5
Independènt Examinevs Report to the Truste8s of Two Churches Ono Town Independent 9xaminerfs r¢port to the trusta8s of Two Churches One Town (Ihe Charitable CompanY) I reptxt lo the charity trustees on my examination of the g(Lounts of tho Charilable Company for the year ended 31 st December 2024. R9spon8ibilitlg8 and basis of report As the charitable company's trusteas land also Its dira¢yS the purrJ)ses of company law) you are responsibl6 for the pparatIon of Ihe accounts in aC£Ordan wth the requirements of the Charities Act 2011 I'the Acl'l and Companies Act 20061'lh8 2006 Aci,). Hawing Satisfied mygelf that the aCnIS of lh8 Charitable cpanY are not requlred lo be audited under Part 16 of the 2006 Act and are eligitAe fc* independent examinaton, I report in resfv of my examination of your charitable company's accounts as carried out under Section 145 of the Act In ca1ng out my examination I havo followed the Directions given by the Charity Commission undèr Secti( 145(5} Ibl of th8 ACL Indepèndent examlnar's statement I have completed my examination. I wnfirm that no matters have to my attenti in connection with th¢ examination giwng me cause to believe.. accounting records were not kept in respect of the Charitable cpanY as required by Section 130 of the Act or by Section 386 of the 20C6 Acl" or th8 accounts do not accord with those reLLYds" or ..th6 accounts do not ¢omply vlth tt)e aCcnIing reqUirents of Section 396 of th6 20 Act other than any requirement that the accounts give a true arKJ fair vthith is a matter consid8red as part of an independ8nl examination.. or the accounts have not been prepared In aX}rdan wth the meth(xJs and principles of the Slalement of . Recomm8nded Practi fcK acwunling and rewting by charities (applicable to charities preparing their accounts in 8owrdance wlh the Financtal Rep(Kling Standard aPpIable In the UK and Republic of ltsland {FRS 10211. I have no conc8ms and have come across no other matters in oMnection Vth the examination to whith attention should be drawn in this rewrt In Qder to able 8 pryer understanding of the accounts lo b8 reached. Stephen Bramall Bsc., FCA Smalles G(Adie Chartered A¢xountsnts Regènt's Court Prfnckss Slreat Hull HU2 8BA 01 September 2025 D81e'. Pag8 6
Two Churches One Town Statement of Financlal Actlvities for the year ended 31st Dewnber 2tY24 2024 Totsl funds 2023 Total funds Unrestrlcted Restrlcted furKIs Notes INCOME AND ENDOWMENTS FROM Donations and grants 97.351 6,01)0 103,357 122,037 Investment Income 10.113 6.910 Totsl 107470 6.000 113470 128,947 EXPENDrruRE ON Charitable aclivitie8 Church preseNation 53275 NET INCOMEI{EXPENDrruRE) 195 {4,815) 49,380 72,218 RECONCIUATION OF FUNDS Total funds brought forward 134918 170.411 98,193 TOTPL FUNDS CARRIED FORWARD 189 113 30,678 219.791 170411 The notes fom) part of these finarKial slatemwrts Page 7
Two Churchos One Town Balance Sheet 31st Decèmber 2024 2024 Total funds 2023 Totsl fur8 Unrèstricte(l Restrlcted furxls funds Notes cuRREr ASSETS Prepayrnents and accrued incc¥ne C88h at bank 381 196.261 3BI 175265 196,642 30.678 227,320 175,816 CREDITORS Amounts falling due wthin one year 11 ,529) (7.529) 15,405) NET CURRENT ASss 189.113 30,678 219,791 170411 TOTAL ASSETS LESS CURRENT LIABILITIES 189.113 30,678 219,791 170.411 NET ASSETS 189.113 219 791 170.411 FUNDS unstriCted fundg: Ggn8ral fund Designated Fund - Futuré ReSee 12 184,113 129,918 5,000 189 113 134,918 Restriclgd funds: Bevedey Minster SpeGifiG Funds St Marls Spe¢ff Funds 25.134 29,949 TOTAL FUNDS 219 791 170.411 The Gharitable company is enlilled to exempts' from audit Uer Sedion 477 of the Companies Act 2QD6 for the y8ar endgd 31st Dmr 2024. The members have not required the company to obtsin an aLJdf( of its finan(xal ststemenls for th6 year ended 31st DeGember 2024 in accordance Section 476 of Ihe Companies 2006. The trustees aCknoedge their responsibilities f( lal uring that the charitable company keeps acccwntiro rrdS Ihal aNnply th SeciK)ns 386 8nd 387 of the Companies Act 2006 and preparing financial statements whith give a tnje and fair vlew of the state d affairs of th8 tharitsble company as al tha end of eath financial year and of ils surplus or deficit for each financial year in acc(dan wlh the r8quSrgm8nts of Sert1(s 394 and 395 and whith othemse Gcxnply the requirements of the Companies Act 2006 relating lo financid statements. so far as applicable lo the tharitable coynpany. Ibl The notes form part of thes8 fin8naal statements Page 8 cclInUed...
Two Churches One Town Balanco Sheet- ntinUed 31st DeCemr 2024 These fln£ncÉal slatentS have been prepar1 in aCran vmh thè provisiS appllcable lo tharilabFe cKJmpanies subject to the small companies regime. The finanal statements were approwj by th8 Board of TnJste8s and authorised for issue on .. and rg signed on its behalf by: Mr M C S Hall - Trustee The notes form part of these financial statemlS P¥9
Two Churchas One Town Notes to the Financial Statèments for tho year ended 31st Decomber %124 ACCOUNTING POLICIES Basis of preparing the financlal statements The finanaal stalem8nls of the charity. which is a public beneftt ¢nUty under FRS 102. havè been prepared in accordance with the Charities SORP IFRS 102} 'Accounting and Reporting by Charities: Slalemont of Recommended Practice applicable to tharibes preparing their accx)unts in alxL)rdan with the Flnanaal Reporting Standard applicable in the UK and Repullic of Ireland IFRS 1021 leffeGtive 1 January 20191,. Finanaal Reporting Standard 102 The Finanual Repottng Standard applicable in tha UK 8nd Republic of Ireland, and the Charflies Ad 2011. The financaal stalfftnts have been prepared under the historical cosl cmvenlion, with the excep11L of investments which are indLKJgd al mark81 value, as modified ty the revaluatiDn of certain assets. The trustees consider that there are no material uncwkinties about fhe Charitys ability lo G(Krtinue as a going Income recognition Income is rneasur al the falr value of the ¢))nsIde[afK receN&J or rweivable. Th8 poIleS adopted for tho rnitIOn of incom8 8r8 as foll(hvs: Incnm8 from donations. governrnent and other grants, vthelher capital or revenue, is recognised when the charity has entitlemlS lo tho funds, any pwfr)rmance CLdIt)S 8ttaehed to Ihe grants have been met. it is probable that the inccne will be received arKI the amount Gan be m8asumd reliably. Exp¢nditurn - Liabilitses"are"rwnised as expenditure as as there is a Iwyl or ConstrucVe obligation ()Mittlng th8 charity to that expendilure, is probable that a transf of economic benefits 711 be rffjuired in settlement and the arrK)unt of the obligation can measur&Y rdiaw. Expendittjre is accounted for on an accruals basis and has been classified under headings that aggregats all o)st rdated to the catsgory. All expenses includlng support costs and govem8nce costs are allocated lo the applicable expenditure headi[. Grants offered subj1 to condiliorts which have not been met 8t the year end date are not a8 a ci¥nmilment bul not acuued a8 explture. Allocation and apF)Ortlonrnwrt of costs Support costs have been allocated between administration 8nd govemarTrce costs. Governanc8 costs comprise all costs involving the pU1C aCctablITty of the tharity and its cL¥npliance with regulation and good practice such as costs rdated to bockeeping and Statut audit. Th8 has been no apportionrnent of Taxation Th8 charity Is 8X8mpt from ccKporation tax on its charitable acttvits88. Fund accounting Unrestrted funds can be used in aCran vrith the chaiitaNe obj*tiveg al the diwetion of the Iruslees. Restrict funds can only be used for parbcular restricted purposes within the objects of the charity. ReslriGtions arise when speafied by the donor or %then funds are raised for par1Kulgr raslricted purposes. Further 6xpl8nalion of Ihe nature and purpose ofeath fd is inrJuda(J in th8 notes to thg financAal statements. Penslon costs and other post-retirement beneffts The charitable company opefates a defined Contributi( scheme. ContributiS payable lo the Charitab company's slon S(1Me are charged to the Statem1 of Financial Activities in the period to whlch they relate. Page 10 conlinu8d..
Two chUh95 One Town Notes to the Flnanclal Ststéments - contlnued forthe year ended 31st December 2024 ACCOUNTING POLICIES- GOntU0 Debtors and credltors receivablelpayable within one year Debtors and creditors with no staled interest rale and are r1Vable or payable within one year are recorded at Iransactlon price. AY losse5 arising from impalmt afft recognised in the statement of finanaal activities all(xated to the appropriate heading. DONATIONS AND GRAfrrrs 2024 2023 Dorli(S Grants 83,727 19,630 120,837 1,200 103357 122,037 INVESTMEKf INCOME 2024 2023 Bank account interest . 10.113 6.910 CHARABLE ACTWMES COSTS Grant fundlng of actlvriles (see note 6} Direct Costs l$e8 note 5) Support costs Isoe note 7) Totals Unr8slrict8d funds Restricted funds 10263 43.012 5127S 10,815 Church preservation" 10.263 10.815 64,090 DIRECT COSTS OF CHARITABLE ACTivmES 2024 2023 Net zero project chitect 10.000 Page11 continued...
Two Churchas One Town Notes to the Financial Statements- contlnued for the year end8d 31st December 2024 GRANTS PAYABLE 2024 2023 Church preservation 10,815 The total gTants paid lo insl1tuiiS durfng the yoar was as follry•VS: 2024 2023 Beverfey Minster (Nave Rwfj Beverley Minster St Mary's Church 25,000 4815 6,000 10,815 25,000 SUPPORT COSTS 2024 2,007 2023 2,103 15.274 2,980 ¥23 9,108 Independent Examin6rs' Remunerab¢)n Salaries Website Development" Diroctors and Offic8rs abilIty Inyjrance Fundraising Service Administration Costs 718 302 &139 43.012 31,729 TRUSTEES, REMUNERATION AND BENE Thero were no Irusle8s' remunerati( or oth8r benefits the year e 31st Dethmber 2024 nor.for the year ended 31st Dember 20. Truste8s' expenses There were no trustees. expenses paid f( the year ended 31st Dmber 24 for the year endgd 31st Dember 2023. STAFF COSTS 2024 2023 Wages and salaries other pension (x)sts 31,671 3.173 15,274 15,274 The averag6 monthly number of enwloyees during the year was as fdlows.. 2024 2023 Fundraising The charity had no eTryloyees at the year end. No empk)yees received en1uments in excess of £60,LN)O. Page 12 ctsntinu...
TV Churches One Town Notss to th8 Financial Statements- contlnued for the year ended 31st December 2024 10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL AGfMTIES unrestrIct Restricted funds funds Total funds INCOME AND ENDOWMENTS FROM Donallons and grants 87,353 34,684 122,037 Investment Income 6,101 809 6.910 Total 93.454 128,94T EXPENDITURE ON Charitable activlties Church preservatton 25,QDJ NET.INCOME 61.725 10.493 72,218 RECONCILIATION OF FUNDS Total funds tKought forward 73,193 25,000 98,193 TOTAL FUNDS CARRIED FORWARD 134,918 170,411 -11. CREDITORS: AMouKfs FALLING DUE WtrHIN ONE YEAR . 2024.. 2023 Acorued and deferred income 7.529 5.405 12. MOVEMENT IN FUNDS Nat movement In funds At 111124 31112124 Unrestrlthd funds General fund Designated Fund - Future Resarv8 129,918 54195 184,113 5,000 14918 S4.1 189,113 Restricted funds Bevadey Minster Specific Funds Sl Mavs Specific Funds (48151 25,134 4.815 TOTAL FUNDS 170,411 49.380 219791 Page 13 conlinuÉd...
Two Churches Ona Town Notes to the Financial sLaMents - contlnued for the year ended 31st Dec8mber 2024 12. MOVEMENT IN FUNDS. Contlnued Net movement In fund& IndUd in the above are as fd1($. Incomi resour Rèsources expended Movement in funds Unrestricted funds General fund 107,470 {53,275) S4,195 Restricted funds Beverley Nlinsler Splf Funds Sl Marls SpeGrfic Funds <4,815) {4,815} TOTAL FUNDS 113470 Comparatlves for movgment in funds Net movement in funds At 31112123 At 111123 Unrestricted funds General fund D8signat&J Fund - Future Resetve 68,193 61.725 129,918 5.000 73.193 61,725 134.918 Rostrlcted funds B8v8dey Minster Nave RcMJf Phase 2 Bev&rfey Minster Speafic Funds St Marfs Spectfic Funds 125.WO) 29,949 29,949 5,544 25.txx) 10,493 35.493 TOTAL FUNDS 98.193 72,218 170,411 Page 14 ¢ontinued...
Two Churchos Ong Town Note5 to the Financial Statements . contlnued for the year ended 31st Docember 2024 12. MOVEMENT IN FUNDS- Conued Comparative nel movem1 in fuThJs, Induded in Ihe above ar8 8$ fdlows: Incoming resources ROUrCes exnded Iliovement in funds Unrastrlctod funds Goneral fund 93,454 {31,729} 61,725 Restricted funds Bev&rf8y Minster Nave Roof Phase 2 Bevedey Minster Splfi¢ Funds Sl Mary's Sp1¢ Funds {25,CW} {25,OQ>O) 29,949 35,493 TOTAL FUNDS 128.947 56,729} The Beverfey Minster Nav8 Roof Phase 2 fund relaled lo dcatiOnS weived to 17)mmence the second phase of the nave rcK)f repairs. The £25,000 in this fund was sFent in the prK)r year, with £12.500 bèiftg allocated each lo Friends of 8everf8y Minster and Bevertey Minstsr Old Fund. Th8 Bevedey Minster 6p8cific Funds is a fund restricted lo tho pursuit of the tharilabl8 objects of Two Churches One Town relating to Beverfey Minster. "-Ihe St MaS Specific Funds is"a fund restricted to the pursurt of the charitab18 thjects of Two Churches One Town relating to St Mary'8 church. . .Tha ger81 furKI reprn1$ fundswhth have no speofic designation. The Future Reserve represents amounts designated to meet expe(ed liabilities a1 closure costs. should the charity decide lo cease its actfvilies. 13. RELATED PARTY DISCLOSURES There w8rg no related party transaclons for the year ended 31st Dwkmber 2024. Page 15