# **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.
12
**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|
|---|---|---|---|---|
14
**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.
15
**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|
|---|---|---|
16
**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|
17
**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).
18
**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**||||
||||||||||
19