2025-03-31-accounts

Bedfordshire and Hertfordshire Historic Churches Trust Saving the past for the future

Charitable Incorporated Organisation

Report and Financial Statements for the Year Ended 31 March 2025

Registered Charity No. 1197228 Company No. CE027716

www.bedshertshct.org.uk

BEDFORDSHIRE & HERTFORDSHIRE HISTORIC CHURCHES TRUST

REPORT OF THE TRUSTEES FOR THE PERIOD ENDED 31 MARCH 2025

REFERENCE AND ADMINISTRATIVE INFORMATION

TRUSTEES

Mrs M.A. Russell The Revd. Canon M.E. Grant Mrs T.C. Britt R.C.H Genochio Dr. C.P. Green T.W. Groom The Revd. Canon L. Klimas A. Lambourne W.A.J. Marsterson J. May Dr. M. Newbery R.J. North S. A. Russell

(Chairman – Appointed 8 May 2024) (Resigned 8 May 2024) (Deceased 20 December 2024)

(Appointed 8 July 2024) (Appointed 8 May 2024) (Resigned 8 July 2024) (Appointed 8 July 2024)

INDEPENDENT EXAMINER

Steve Robinson Mercer & Hole LLP 72 London Road St Albans Hertfordshire AL1 1NS

BANKERS

Barclays Bank Plc 1 Churchill Place London E14 5HP

CORRESPONDENCE OFFICE

The Honorary Secretary 8 Beaulieu Way Bedford MK41 8NP

CHARITY REGISTERED NUMBER 1197228 COMPANY NUMBER CE027716

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BEDFORDSHIRE & HERTFORDSHIRE HISTORIC CHURCHES TRUST

REPORT OF THE TRUSTEES FOR THE PERIOD ENDED 31 MARCH 2025

OFFICE-BEARERS

Joint Presidents	Robert Voss, CBE, HM Lord-Lieutenant for Hertfordshire
	Mrs. Susan Lousada HM Lord Lieutenant for Bedfordshire
Patrons	The Most Hon. The Marquess of Salisbury, PC, DL
	The Right Revd. Dr. Alan Smith, Bishop of St. Albans
	The Revd. George Watt, Moderator, Thames North Synod, United Reformed Church
	The Revd. Dr. David.M. Chapman, Chairman, Bedfordshire, Essex & Hertfordshire
	Methodist District
	The Revd. Geoff Colmer, Regional Minister & Team Leader, Central Area of the Baptist
	Union
Vice-Presidents	The Right Revd. Richard Atkinson OBE, Bishop of Bedford
	The Right Revd Dr Jane Mainwaring, Bishop of Hertford
	The Very Revd. Dr. Jo Kelly-Moore, Dean of St. Albans
	The Right Revd. David Oakley, Bishop in Northamptonshire
Vice Chairmen	The Ven. Janet Mackenzie, Archdeacon of Hertford
	The Ven. Dave Middlebrook, Archdeacon of Bedford
	The Ven Charles Hudson Archdeacon of St Albans
TRUSTEES
Chairman	The Revd. Canon M. Grant, 13 Rock Lane, Linslade, Beds. LU17 2QQ
	(Resigned 8 May 2024)
	Mrs. M. Russell, Wychbrook, 31 Ivel Gardens, Biggleswade, Bedfordshire SG18 0AN
	(Appointed 8 May 2024)
Trustee	Mrs. T. Britt, The Vicarage, 61, Church Road, Stotfold, SG5 4NE
	(Retired 12 December 2024)
Trustee	R.C.H. Genochio Esq., The Old Post House, Therfield, Royston, Herts SG8 9PH
Trustee	Dr. C.P. Green, 17 Cowper Road, Berkhamsted, Hertfordshire HP4 3DE
Trustee (Secretary)	The Revd. Canon L. Klimas, 8 Beaulieu Road, Bedford, MK41 8NP.
Trustee (Grants)	A. Lambourne Esq., 8 Trowley Hill Heights. Friendless Lane, Flamstead, St. Albans,
	Hertfordshire, AL3 8DE.
Trustee	W.A.J. Marsterson Esq., The Black Swan, 64 Blanche Lane, South Mimms, Potters Bar,
	Hertfordshire EN6 3PD. (Secretary till 8thJuly 2024)
Trustee	J. May Esq., 13 Rickyard Meadow, Redbourn, St. Albans, Herts, AL3 7HT
	(Resigned 8 July 2024)
Trustee (Membership)	Dr. M. Newbery, 31 The Avenue, Hitchin, Hertfordshire, SG4 9RJ.
Trustee	R.J. North, 8 Pages Croft, Berkhamsted, Hertfordshire, HP4 1BX
Trustee	S.A. Russell Esq., Wychbrook, 31 Ivel Gardens, Biggleswade, Beds, SG18 0AN.
	(Grants until 8 May 2024)
Trustee (Treasurer)	T W Groom, 6 Bell Close, Hitchin, Hertfordshire, SG4 9NJ

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BEDFORDSHIRE & HERTFORDSHIRE HISTORIC CHURCHES TRUST

REPORT OF THE TRUSTEES FOR THE PERIOD ENDED 31 MARCH 2025

THOSE ATTENDING COUNCIL

(Other than Trustees and Vice-Chairmen)

Area Representatives J. Clark Esq.

W . Hardy Esq. Cllr. P. Ruffles MBE J. Creasey Esq. N. Scott Esq. D. Richards Esq. P. Gartside Esq. P.M. Shirley Esq. G.D. Green Esq. R. Jones Esq. T.W. Groom Esq. M. White Esq. S.A. Russell, Esq.

Cllr. P. Ruffles MBE D. Richards Esq.

Bike ‘n Hike A. Colley Esq. S. Collins, Esq. G.D. Green Esq. G. Mackenzie Esq. R. North, Esq. R. Parlour Esq. The Hon. N. Tufton Mrs. P. Ward R. Sambridge, Esq. Mrs. H. Buxton B. Wenham, Esq. W. Marsterson Esq. Mrs. M.A. Russell

G. Cummings Esq. Mrs. J. McIntosh R. Singleton, Esq. K. White, Esq. R. Jones, Esq. S.A. Russell, Esq.

Events Secretary Position Vacant Gift Aid Secretary R. North Esq. Bike ‘n Hike Treasurer R. North Esq. Bike ‘n Hike Position vacant Documents Manager

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BEDFORDSHIRE & HERTFORDSHIRE HISTORIC CHURCHES TRUST

REPORT OF THE TRUSTEES FOR THE PERIOD ENDED 31 MARCH 2025

The Trustees present the Annual Report and Financial Statements of the Trust for the year ended 31st March 2025. The financial statements have been prepared in accordance with the accounting policies set out in Note 1 to the financial statements and comply with the Trust’s Deed, the Charities Act 2011, Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (issued in October 2019).

Structure, Governance and Management

The Bedfordshire & Hertfordshire Historic Churches Trust was established under a constitution dated 5[th] May 2021, which was later revised on 20[th] December 2021. The charity is constituted as a Charitable Incorporated Organisation (CIO), as a body corporate under part 11 of the Charities Act 2011 on 21 December 2021. The CIO registered with the Charity Commission on the same day.

The Trust is governed by the Trustees, who normally meet five or six times a year. All Trustees give of their time freely. No trustee remuneration is paid.

All major policy decisions and grant awards are made by the Trustees. The arrangements and organisation of some matters, such as the practical organisation of the annual Bike ’n Hike, are delegated to committees. Members of committees are all appointed by Trustees and regular committee reports are made to the Trustees. In addition, a Council, (comprised of Trustees, Area Representatives, Area Organisers and Vice Chairmen), meets annually to share matters of common interest and ensure that the Trustees are well informed on developments affecting all local church denominations throughout Bedfordshire & Hertfordshire.

The Trustees have responsibility for the day-to-day management of the Trust and all executive roles are undertaken by the Trustees. The Trust Deed requires the Trustees to elect a Chairman, Secretary and Treasurer from among their number; other Trustees assume responsibilities for membership, grants management, publicity and the organisation of the Bike ’n Hike, the Trust’s major annual fund-raising initiative.

Once a year a special meeting of Trustees is devoted entirely to a review of the structure and working methods of the Trust to ensure continuing good governance and efficient management practice in the light of changing needs and circumstances.

The Trust Deed vests the appointment of new Trustees in the Trustees for the time being and provides that such appointments be approved by a majority of Trustees. When recruitment is undertaken to fill a vacancy, new trustees are sought for their specific experience and attributes. Trustees may from time to time appoint non-executive Trustees with a view to their subsequent assumption of an executive role.

The possibility of becoming a Trustee is normally discussed with any potential or interested candidate by the Chairman, who provides guidance on the aims, workings and context in which the Trust operates. Once appointed, new Trustees are required to sign the minutes of their first Trustee meeting, formally acknowledging their appointment as a Trustee. Although no specific Trustee training is provided by the Trust itself, guidance is readily available from existing Trustees to ensure that any new Trustee becomes familiar with the workings of the Trust as quickly as possible. Moreover, Trustees are encouraged to attend relevant courses or seminars provided by other organisations.

All Trustees give of their time freely. No trustee remuneration is paid. Details of Trustees’ expenses are disclosed in Note 8 to the financial statements. Related party transactions are disclosed in the financial statements in Note 11 and Trustees are required to disclose all relevant interest and withdraw from discussion of and voting on any matter, where a conflict might arise.

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BEDFORDSHIRE & HERTFORDSHIRE HISTORIC CHURCHES TRUST

REPORT OF THE TRUSTEES FOR THE PERIOD ENDED 31 MARCH 2025

Risk Management

The Trustees accept that the management of risk is their responsibility and, having examined the major strategic, business and operational risks which the Trust faces, confirm that appropriate control systems have been established to mitigate such risks, as far as is possible.

Objectives, Activities and Performance for the Public Benefit

The objects of the Trust are to:

• assist those responsible for the care of buildings used for public Christian worship, and to

• make grants of money available for the restoration, maintenance, preservation, repair, alteration and reconstruction of churches and chapels in the counties of Bedfordshire and Hertfordshire and in that part of the London Borough of Barnet within the Diocese of St. Albans

• moreover, the Trust offers activities, e.g. church tours and concerts, to help the further understanding of churches and their contribution to our shared heritage.

The Trustees confirm they have referred to the guidance contained in the Charity Commission’s general guidance on public benefits when reviewing the Trust’s aims and objectives and in planning future activities and setting the Trust’s grant making policy, and that all its activities are for the public benefit.

Achievements, Performance and how the Trust delivered public benefit.

The financial statements, including the statement of financial activities, the balance sheet and the covering notes, appear on pages 12 - 19.

Grant Making Policy and Procedures

The Trust has established its grant making policy to achieve its objectives for the public benefit. Grants are awarded by the Trust for the repair of places of public Christian worship and is inter-denominational. The aim is to preserve the heritage of ecclesiastical buildings for the wider benefit of the two counties’ communities, parishioners and congregations – which purpose is expressed in the Trust’s strapline – Saving the past for the future .

The Trust encourages grant applications for the repair of churches and chapels from all denominations and preferably, which are members of Churches Together in the two counties and the relevant part of Barnet. The Trustees award grants, and sometimes loans in an emergency, after detailed consideration of each application, which includes full details of the project, an architectural assessment, builders’ tenders and the accounts and appropriate financial information provided by each church or church friends’ group. Within the limits of available resources and considering the circumstances of the applicant, the Trust is committed to support applications that are in line with the objectives of the Trust. Approved grants must be taken up within two years of being awarded and are paid on receipt of evidence, usually in the form of an architect’s certificate, that the relevant project works have been completed.

Reserves policy

To safeguard the immediate grant making capability of the Trust, the Trustees have agreed that the Trust’s Reserves policy should aim to maintain free reserves in its unrestricted General Fund broadly equivalent to the lower of one year’s unrestricted net income or £50,000. In addition, legacies, subject to any special conditions attached to them, are treated as designated funds that are available for grant making purposes.

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BEDFORDSHIRE & HERTFORDSHIRE HISTORIC CHURCHES TRUST

REPORT OF THE TRUSTEES FOR THE PERIOD ENDED 31 MARCH 2025

Investment policy

The Trust’s current policy is that sufficient cash should be held in current accounts and short-term deposits to satisfy the immediate payment of grants and the day-to-day expenditure of the Trust. Other funds are held in longer-term interest-bearing or investment accounts.

Main risks to the Trust

Principal risks to the Trust include any future deterioration in the financial and economic situation of the country as a whole and particularly as experienced in Bedfordshire and Hertfordshire; the possibility of substantial decreases in the revenue raised from the Bike ‘n Hike; and any decline or cessation of financial support from the Wixamtree Trust. All or any of these would limit the Trust’s ability to support its grant making activities at recent levels. Accordingly, the availability of funding is monitored by the Trustees at each of their regular meetings before grants are awarded or short-term funding loans are agreed.

A further risk arises from the loss of one or more key Trustees carrying major responsibilities, and the consequent necessity of having to pay for professional services. The Trust regularly reviews its resilience, responsibilities and succession planning.

Plans for Future Periods

The Trust is now operating fully as a registered Charitable Incorporated Organisation with the same aims and objectives as the former unincorporated Trust (Registered Charity No. 1005697) and with the same Trustees.

The Trustees are consulting with Friends and others to investigate other potential forms of major fundraising and is working more closely with the History Societies across the two counties, given our joint interest in churches as buildings. The Trustees wish to continue to raise the profile of the Trust to bring its work to a wider audience.

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BEDFORDSHIRE & HERTFORDSHIRE HISTORIC CHURCHES TRUST

STATEMENT OF TRUSTEES’ RESPONSIBILITIES YEAR ENDED 31 MARCH 2025

The trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England & Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the income and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:

• select suitable accounting policies and then apply them consistently;

• observe the methods and principles in the Charities SORP 2019 (FRS102);

• make judgements and estimates that are reasonable and prudent;

• state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Report of the Trustees was approved by written procedure amongst Trustees on …………….. and signed on their behalf by:

M. A. Russell - Chair

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INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF BEDFORDSHIRE & HERTFORDSHIRE HISTORIC CHURCHES TRUST

Independent Examiner's Report to the Trustees of Bedfordshire & Hertfordshire Historic Churches Trust

I report on the financial statements for the Trust for the year ended 31[st] March 2025 which are set out on pages 1 to 19.

Responsibilities and basis of report

As the charity’s trustees you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 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

Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the Act. I confirm that I am qualified to undertake the examination because I am a member of the ICAEW which is one of the listed bodies.

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 charity as required by section 130 of the Act

2. the financial statements do not accord with those records

3. the financial statements do not comply with the applicable requirements concerning the form and content of financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements give a ‘true and fair view’ which is not a matter considered as part of an independent examination

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 financial statements to be reached.

Steve Robinson FCA Mercer & Hole LLP

Chartered Accountants 72 London Road St Albans AL1 1NS

Date

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BEDFORDSHIRE & HERTFORDSHIRE HISTORIC CHURCHES TRUST

STATEMENT OF FINANCIAL ACTIVITIES

(Including Income and Expenditure Account)

For the Year Ended 31[st] March 2025

	Notes	Unrestricted Funds	Unrestricted Funds	Restricted Funds	Restricted Funds	Endowment Funds	Endowment Funds	2025 Total Funds	2024 Total Funds
Income: Income from generated funds - Income from other trading activities Donations and legacies Investment income Grants Other income	2		£ 104,320 58,527 28,801 6,215 1,350		£ - - - 95,000 -		£ - 10,253 - - -	£ 104,320 68,780 28,801 101,215 1,350	£ - 592,059 - - -
Total income and endowments Expenditure: Cost of raising funds - Fundraising costs Charitable activities Grants awarded to churches Share of Bike ’n Hike paid to churches Other expenditure	4 3		199,213 - 8,166 45,000 48,353 8,699		95,000 - - 130,000 - -		10,253 - - - - -	304,466 - 8,166 175,000 48,353 8,699	592,059 - - - - 5,964
Total expenditure			110,218		130,000		-	240,218	5,964
Net gains/(losses) on investments	6		-		-		(302)	(302)	-
Net income/ (expenditure)			88,995		(35,000)		9,951	63,946	586,095
Net movement in funds Transfer of funds Reconciliation of funds Total funds brought forward	12-14		88,995 (247,426) 260,305		(35,000) 28,500 24,000		9,951 218,926 301,790	63,946 - 586,095 650,041	586,095 - - 586,095
Total funds carried forward			101,874		17,500		530,667

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derives from continuing activities.

Separate funds split for the comparative are shown in note 15.

The notes on pages 12 to 19 form part of these financial statements.

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BEDFORDSHIRE & HERTFORDSHIRE HISTORIC CHURCHES TRUST

BALANCE SHEET

As at 31[st] March 2025

	Notes	General Funds	General Funds	Designated Funds	Designated Funds	Restricted Funds	Restricted Funds	Endowment Funds	Endowment Funds	2025 Total Funds	2025 Total Funds	2024 Total Funds	2024 Total Funds
Long Term Assets: Investments	6		£ -		£ -		£ -		£ 97,985		£ 97,985		£ 47,224
Total Long Term Assets Current Assets: Debtors & prepayments Interfund debtors Cash at bank and on short term deposit	9 5		- 372 - 143,002		- - 18,376 -		- - - 164,356		97,985 - - 432,682		97,985 372 18,376 740,040		47,224 372 55,972 708,999
Total Current Assets Current Liabilities: Creditors & accruals Grants payable Interfund creditors	10 4 5		143,374 6,000 35,500 18,376		18,376 - - -		164,356 - 146,856 -		432,682 - - -		758,788 6,000 182,356 18,376		765,343 9,000 161,500 55,972
Total Current Liabilities			59,876		-		146,856		-		206,732		226,472
Net Current Assets			83,498		18,376		17,500		432,682		552,056		538,871
Total Net Assets Represented by: Unrestricted Designated Restricted Endowment	12 12 13 14		83,498 83,498 - - -		18,376 - 18,376 - -		17,500 - - 17,500 -		530,667 - - - 530,667		650,041 83,498 18,376 17,500 530,667		586,095 241,928 18,376 24,000 301,790
Total Charity Funds			83,498		18,376		17,500		530,667		650,041		586,095

The financial statements have been prepared in accordance with the provisions of the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities', Financial Reporting Standard (FRS 102) and were approved by the Trustees on …………………..

M. A. Russell – Chair of Trustees

The notes on pages 12 to 19 form part of these financial statements.

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BEDFORDSHIRE & HERTFORDSHIRE HISTORIC CHURCHES TRUST

NOTES TO THE ACCOUNTS AT 31[ST] MARCH 2025

1. Accounting Policies

(a) Basis of preparation

The financial statements have been prepared under the historic cost convention rounded to the nearest £ and in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (issued in October 2019) - (Charities SORP (FRS 102)).

Bedfordshire & Hertfordshire Historic Churches Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.

The financial statements have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’. This departure has involved following the Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

On 31 March 2024, the charity acquired the net assets and operations from an unincorporated charity of the same name, as a donation for nil consideration. In accordance with the charities SORP, the assets and liabilities have been brought in at their fair value at the date of transfer.

(b) Funds structure

The Trust has two permanent endowment funds: the Wixamtree Endowment and the Jubilee Endowment. The Wixamtree Endowment provides for the Trustees to invest the capital in perpetuity. However, the Trustees at their discretion may allocate any part of the unapplied return to the general purposes of the Trust.

The Jubilee Endowment Fund was established in 2017. The terms of the endowment allow the income from the capital of the fund to be unrestricted. Fundraising costs for the establishment of the Endowment can be allocated to the fund.

The Restricted Wixamtree Fund may only be used to make grant awards which satisfy certain conditions in the geographical area of Bedfordshire.

The Restricted Allchurches Fund may only be used to grant awards which assist churches install roof alarms to protect their roofs.

Unrestricted funds comprise those funds which Trustees are free to use for any purpose in furtherance of the Trust’s charitable objectives. Unrestricted funds include the designated Legacies Fund which the Trustees, in their discretion, have created. The Trustees intend to use the Legacies Fund to achieve maximum benefit from the legacies received and, by spreading the use of the Funds provided over four years, to provide longer term recognition of the donor’s original gift.

(c) Income

All income is recognised once the Trust has entitlement to the income or resources, there is certainty that the resources will be received and the monetary value of the income can be measured with sufficient reliability.

Legacy gifts are recognised on a case by case basis following the granting of probate when the administrator/executor for the estate has communicated in writing both the amount and settlement date.

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BEDFORDSHIRE & HERTFORDSHIRE HISTORIC CHURCHES TRUST NOTES TO THE ACCOUNTS AT 31 MARCH 2025

1. Accounting Policies (continued)

(d) Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the Trust to the expenditure. All expenditure is accounted for on an accruals basis and is classified on a natural expense basis under headings that aggregate all costs related to a particular category.

Grants payable are provided when an award is approved by the Trustees, as recorded in the Trust’s minutes, and notified in writing to the applicant. Grants represent the amount due, in furtherance of the charitable objects of the Trust, to a third party, subject to the completion of the specified conditions attaching to each grant award.

(e) Charitable activities

These costs principally comprise printing, including the Trust’s Newsletter, stationery, postage and insurance expenses.

(f) Investments

Listed investments are stated at their fair value at the end of the financial year. All gains and losses are taken to the Statement of Financial Activities as they arise. Realised gains and losses on investments are calculated as the difference between sales proceeds and their opening carrying value or their purchase value if acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between the fair value at the year end and their carrying value. Realised and unrealised investment gains and losses are combined in the Statement of Financial Activities.

(g) Debtors

Debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid after taking account of any trade discounts due.

(h) Creditors and provisions

Creditors and provisions are recognised where the company has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

(i) Going concern

At the time of approving the financial statements, the trustees have reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in the preparation of the financial statements.

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BEDFORDSHIRE & HERTFORDSHIRE HISTORIC CHURCHES TRUST NOTES TO THE ACCOUNTS AT 31 MARCH 2025

2. Voluntary Income

Subscriptions Donations Donations from Predecessor Charity Legacies Total	2025 £ 11,175 16,605 - 41,000 68,780	2024 £ 2,450 - 574,609 15,000 592,059

On 31[st] March 2024, Bedfordshire & Hertfordshire Historic Churches Trust, established as a Charitable Incorporated Organisation (CIO), received all assets and liabilities from Bedfordshire & Hertfordshire Historic Churches Trust, as the successor charity. In accordance with the Charities SORP the assets and liabilities have been brought in at their fair value at the date of transfer.

3. Other Income and Other Expenditure

The amounts shown include the fees received and the related costs incurred for the Trust’s annual study day and the tours of historic churches organised for members and supporters.

4. Grant Provision 2024/2025

Unrestricted Funds East Hyde St Charalambous Letchworth St Paul North Mymms St Mary Pirton St Mary the Virgin St Albans St Julian Watford St Michael Berkhamstead All Saints Leavesden All Saints St Albans St Michael Sacombe St Catherine Stevenage St Peter South Mimms St Giles Trowley Hill Methodist Bedford All Saints Total unrestricted	Balance Forward 01/04/2024 £ 1,000 18,000 2,000 5,000 5,000 7,500 - - - - - - - - 38,500	Granted £ - - - - - - 5,000 2,000 10,000 5,000 7,500 7,500 3,000 5,000 45,000	Paid £ (1,000) (18,000) (2,000) - (5,000) - (5,000) (2,000) (10,000) (5,000) - - - - (48,000)	Carried Forward 31/03/2025 £ - - - 5,000 - 7,500 - - - - 7,500 7,500 3,000 5,000 35,500

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BEDFORDSHIRE & HERTFORDSHIRE HISTORIC CHURCHES TRUST NOTES TO THE ACCOUNTS AT 31 MARCH 2025

4. Grant Provision 2024/2025 (continued)

Restricted Funds Bedford St Paul Blunham St Edmund Bolnhurst St Dunstan Chalgrave All Saints Clophill St Mary the Virgin Dunton St Mary Magdalene Great Bartford All Saints Harlington St Mary Hockliffe St Nicholas Keysoe St Mary the Virgin Luton St Christopher Pertenahall St Peter Potton St Mary the Virgin Royston St John the Baptist Southhill All Saints Sutton All Saints Toddington St George Shillington All Saints Stevington St Mary Salford St Mary Roxton St Mary Ravensden All Saints Luton St Charalambos Milton Ernest All Saints Bletsoe St Mary Blunham St James Aspley Guise St Botolph Campton All Saints Ampthill St Andrew Colmworth St Denys Bedford All Saints Total restricted Total Restricted and Unrestricted	Balance Forward 01/04/2024 £ 20,000 10,000 5,000 2,000 10,000 2,000 6,000 10,000 10,000 6,000 10,000 4,000 5,000 1,000 10,000 10,000 2,000 - - - - - - - - - - - - - - 123,000 161,500	Granted £ - - - - - - 4,000 - - - - - - - 20,000 - - 5,000 6,000 4,000 10,000 1,500 5,000 5,000 5,000 10,000 17,000 10,000 10,000 7,500 10,000 130,000 175,000	Paid £ - - - - (10,000) (2,000) (10,000) (10,000) - (3,644) - (4,000) (5,000) - (10,000) - - (5,000) (6,000) (4,000) (10,000) (1,500) (5,000) (5,000) (5,000) (10,000) - - - - - (106,144) (154,144)	Carried Forward 31/03/2025 £ 20,000 10,000 5,000 2,000 - - - - 10,000 2,356 10,000 - - 1,000 20,000 10,000 2,000 - - - - - - - - - 17,000 10,000 10,000 7,500 10,000
				146,856 182,356

5. Interfund Debtors and Creditors

The balances shown as amounts payable are in respect of cash balances held in the General Fund bank accounts which are due to the designated Legacies and Endowment Funds.

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BEDFORDSHIRE & HERTFORDSHIRE HISTORIC CHURCHES TRUST NOTES TO THE ACCOUNTS AT 31 MARCH 2025

6. Investments

Market value brought forward Market value transferred from former charity Additions Market value adjustment Market value as at year-end Cost

All investments are carried at their fair value. Fixed interest securities are at the bid price

7. Amounts paid to the Trust’s Independent Examiner

The following amounts were paid for the provision services by the Trust’s Independent Examiner.

Fee for the Independent Examination	2025 £ 6,000	2024 £ 3,000	2024

8. Trustees' Remuneration and Benefits

There were two trustees' remuneration or other benefits in the year ended 31 March 2025 nor in the year ended 31 March 2024.

Trustees’ Donations

In the year donations of £1,944 (2024: nil) were received from Trustees and subscriptions of £210 (2024: nil).

Trustees' Expenses

During the year, two trustees were reimbursed for expenses paid personally on behalf of the Trust. The amounts paid during the year totalled to £395 (2024: £1,080).

9. Debtors

Accrued interest & dividend income 10. Creditors Grants payable Accruals & deferred income	2025 £ 372 372 2025 £ 182,356 6,000 188,356	2024 £ 372 372 2024 £ - 9,000 9,000

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BEDFORDSHIRE & HERTFORDSHIRE HISTORIC CHURCHES TRUST NOTES TO THE ACCOUNTS AT 31 MARCH 2025

11. Related Party Transactions

In the prior year, the charity received all assets and liabilities from Bedfordshire & Hertfordshire Historic Churches Trust as the successor charity. In accordance with the Charities SORP, the assets and liabilities were brought in at their fair value at the date of transfer of £374,608.

There were no related party transactions during the current or previous year other than those disclosed in note 8.

12. Unrestricted Funds

Current year
	Balance	Income	Expenditure	Transfers	Gains and	Funds
	brought				losses	carried
	forward					forward
	£	£	£	£	£	£
General	241,929	199,213	(110,218)	(247,426)	-	83,498
funds
Designated	18,376	-	-	-	-	18,376
funds
Total	260,305	199,213	(110,218)	(247,426)	-	101,874
Comparative	year
	Balance	Income	Expenditure	Transfers	Gains and	Funds
	brought				losses	carried
	forward					forward
	£	£	£	£	£	£
General	-	247,899	(5,964)	-	-	241,929
funds
Designated	-	18,376	-	-	-	18,376
funds
Total	-	266,269	(5,964)	-	-	260,305

13. Restricted Funds

Current Wixamtree Allchurches Total	year Balance brought forward Income Expenditure Transfers Gains and losses Funds carried forward £ £ £ £ £ £ 6,500 95,000 (130,000) 28,500 - - 17,500 - - - - 17,500
	24,000 95,000 (130,000) 28,500 - 17,500

Comparative year
Balance		Income	Expenditure	Transfers		Gains and	Funds
brought						losses	carried
forward							forward
£		£	£	£		£	£
Wixamtree	-	6,500	-		-	-	6,500
Allchurches	-	17,500	-		-	-	17,500
Total	-	24,000	-		-	-	24,000

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BEDFORDSHIRE & HERTFORDSHIRE HISTORIC CHURCHES TRUST NOTES TO THE ACCOUNTS AT 31 MARCH 2025

14. Endowment Funds

Current year
Balance	Income	Expenditure	Transfers	Gains and	Funds
brought				losses	carried
forward					forward
£	£	£	£	£	£
301,790	10,253	-	218,926	(302)	530,667
Comparative year
Balance	Income	Expenditure	Transfers	Gains and	Funds
brought				losses	carried
forward					forward
£	£	£	£	£	£
-	301,790	-	-	-	301,790

The endowment fund comprises the Wixamtree endowment with funds of £437,490 (2024: £208,613) and the Jubilee fund with funds of £93,177 (2024: £93,177).

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BEDFORDSHIRE & HERTFORDSHIRE HISTORIC CHURCHES TRUST NOTES TO THE ACCOUNTS AT 31 MARCH 2025

15. SOFA comparative note

	Notes	Unrestricted Funds	Unrestricted Funds	Restricted Funds	Restricted Funds	Endowment Funds	Endowment Funds	2024 Total Funds
Income: Income from generated funds - Income from other trading activities Donations and legacies Investment income Income from charitable activities Other income	2 3		£ - 266,269 - - -		£ - 24,000 - - -		£ - 301,790 - - -	£ - 592,059 - - -
Total income and endowments Expenditure: Cost of raising funds - Fundraising costs Charitable activities Grants awarded to churches Share of Bike ’n Hike paid to churches Other expenditure	4		266,269 - - - - 5,964		24,000 - - - - -		301,790 - - - - -	592,059 - - - - 5,964
Total expenditure			5,964		-		-	5,964
Net gains/(losses) on investments	6		-		-		-	-
Net (expenditure)/ income			260,305		24,000		301,790	586,095
Net movement in funds Reconciliation of funds Total funds brought forward			260,305 -		24,000 -		301,790 - 301,790	586,095 - 586,095
Total funds carried forward			260,305		24,000

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