Registered Charity Number 205276
WRAYSBURY PAROCHIAL CHARITIES
ANNUAL REPORT AND FINANCIAL STATEMENTS
For the year ended 31[st] December 2020
WRAYSBURY PAROCHIAL CHARITIES
TRUSTEES’ ANNUAL REPORT
For the year ended 31[st] December 2020
Reference and Administrative Details
Charity Number: 205276
Correspondence Address: 12 Ouseley Road, Wraysbury, Middlesex, TW19 5JA
History and Objectives of the Parochial Charity
This charity is an amalgamation of six ancient parochial charities, the oldest dating back to the 16[th] Century. Five were for the relief of poverty and were endowed with government stock, but the sixth and oldest was to provide an income for the building and maintaining of bridges within the Parish and was endowed with land. The sale of this land provided the overwhelming portion of the funds, enabling the purchase of the Charities modern investment assets. Its administration and objectives are now governed by the rules of the Charities Commission Scheme of 1980 which extended its original objectives of support for the poor and needy of the Parish to include recreation, leisure and educational causes within the Parish.
Management and Governance arrangements
The 1980 scheme rules the method of Trustee selection to be four Trustees nominated by the Parish Council, four co-opted Trustees and one ex-officio Trustee.
The Trustees meet quarterly to review any applications for financial assistance that have been received and to consider what grants they will make. Each application is considered upon its individual needs and merits within the terms of the governing constitution. The Trustees will continue to monitor the distribution of grants to ensure that they cover the Trusts objectives.
Trustees
The present Trustees are: Nominated Mr. S Carter, Miss S Nicholls, Mrs A Brech, Mr S Ford Co-opted* Mr A Buckland, Mr G Larcombe Ex-officio Fr. C Gibson Secretary for the Trustees Mrs. S. Chapman
*Mrs N Bouch stepped down as Co-opted Trustee due to a change of location.
*Mr P Knott, a long serving Trustee and former Chairman died on 31[st] October 2020. The Trustees will appoint 2 Co-opted Trustees in 2021
Future Plans
The Trustees intend to continue providing grants in a similar way to the recent past, retaining flexibility as to the scale and timing of grant making.
Review of Governing Document
As mentioned in last year’s (i.e., year ended 31 December 2019) Report and Accounts, the Trustees undertook a comprehensive review of the Trust’s Governing Document in the opening weeks of 2020. The document had not been reviewed or amended during the past fifty-five or so years of the Charity’s operation, and as such needed to be updated to: reflect the Trust’s current operating practice; provide additional safeguards ensuring the Trust’s future prudent operation; and to enhance certain governance related provisions.
As a consequence, the historic Governing Document was substantially revised.
The new Governing Document was unanimously adopted by the Trustees via a Special Resolution dated 24th February, 2020, and was registered with the Charity Commission with effect from the 28[th] February 2020.
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WRAYSBURY PAROCHIAL CHARITIES
TRUSTEES’ ANNUAL REPORT
For the year ended 31[st] December 2020
Financial Review
The Charities’ Endowment Investment funds’ value fell by 9.51% during the year (from £881,727 to £798,879) and dividends have fallen to £27,302 (2019 - £33,182). These results were anticipated given the major investment market volatility that existed throughout most of 2020, and which still continues, as a result of the COVID 19 pandemic.
During the year, the Trustees were pleased to make grants and donations to the Parish totalling £23,498 and these are summarised on page 6.
The Charity’s Trustees are responsible for preparing a receipts and payments account and a statement of assets and liabilities for each financial year that properly present the Charity’s receipts and payments during the year and its assets and liabilities at the end of the year. In preparing those statements, the Trustees are required to:
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Select suitable accounting policies and apply them consistently.
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Make judgements that are reasonable and prudent.
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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 which enable them to ensure that the receipts and payments account and statement of assets and liabilities comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the Charity and for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Independent Examiner
The Trustees intend to continue the practice of asking registered accountants to undertake the independent examination of the Charity in the following year.
Mr A. Buckland Chairman
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INDEPENDENT EXAMINERS REPORT
TO THE TRUSTEES OF WRAYSBURY PAROCHIAL CHARITIES
For the year ended 31[st] December 2020
I report on the accounts of Wraysbury Parochial Charities for the year ended 31[st] December 2020 which are set out on pages 4 to 7.
Respective Responsibilities of Trustees and Examiner
The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under Section 144(2) of the Charities Act 2011 and that an Independent examination is needed.
It is my responsibility to:
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examine the accounts under Section 145 of the Charities Act 2011;
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to follow the procedures laid down in the general Directions given by
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the Charity Commissioners under Section 145(5)(b)) of the Charities Act 2011 Act; and
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to state whether particular matters have come to my attention.
Basis of Independent Examiner’s Statement
My examination was carried out in accordance with the general Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the Charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently, no opinion is given as to whether the accounts present a ‘true and ‘fair’ view and the report is limited to those matters set out in the statement below.
Independent Examiner’s Statement
In connection with my examination, no matter has come to my attention;
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(1) which gives me reasonable cause to believe that in any material respect, the trustees have not met the requirements to ensure that;
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proper accounting records are kept in accordance with Section 130 of the Charities Act; and
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- accounts are prepared which agree with the accounting records and comply with the accounting requirements of the Charities Act; or
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
S.D. Whiting Chartered Accountant 76 Ouseley Road, Wraysbury, Middx TW19 5JH
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WRAYSBURY PAROCHIAL CHARITIES
REGISTERED CHARITY NUMBER 205276
| RECEIPTS AND PAYMENTS ACCOUNT | ||
|---|---|---|
| For the year ended 31st December 2020 | ||
| 2020 | 2019 | |
| £ | £ | |
| Income | ||
| Investment Income | ||
| Endowment investment dividends – Bridge Lands | 27,302 | 33,182 |
| -------- | -------- | |
| 27,302 | 33,182 | |
| ===== | ===== | |
| Other Income | ||
| Deposit account (COIF) interest | 94 | 345 |
| Refunds | 22 | 42 |
| Donations (Varied) |
1,250 | 6,218 |
| Wraysbury Voluntary Care | _ | 3,565 |
| ------- | ------- | |
| 1,366 | 10,170 | |
| ===== | ==== | |
| Total Income |
£ 28,668 | £43,352 |
| ====== | ====== | |
| Expenditure | ||
| Direct Charitable Expenditure | ||
| Grants and donations for the year |
£ 23,498 | £22,884 |
| ====== | ====== | |
| Other Expenditure | ||
| Secretary’s honorarium and expenses | 1,164 | 1,143 |
| Independent examination fee | 642 | 630 |
| Trustee presentation gift | 60 | _ |
| Baptist Church Return of held funds. | 5,718 | _ |
| --------- | --------- | |
| 7,584 | 1,773 | |
| Total Expenditure |
£31,082 | £24,657 |
| ====== | ====== | |
| Net Income for the year |
£ (2,414) | £18,695 |
| -4- |
====== | ====== |
WRAYSBURY PAROCHIAL CHARITIES
BALANCE SHEET
As at 31[st] December 2020
| 2020 | 2019 | |
|---|---|---|
| £ | £ | |
| Fixed Assets | ||
| Investment Assets | ||
| Endowment investments | 284,995 | 284,995 |
| ====== | ====== | |
| Current Assets | ||
| Bank current account | 36,508 | 38,922 |
| Bank deposit account (COIF) | 35,649 | 35,649 |
| ---------- | ---------- | |
| 72,157 | 74,571 | |
| ====== | ====== | |
| Total Net Assets | £357,152 | £359,566 |
| ====== | ====== | |
| Represented by: | ||
| The Funds of the Charity | ||
| Unrestricted Funds | ||
| As at 1stJanuary 2020 | 359,566 | 340,871 |
| Income for the year | (2,414) | 18,695 |
| ---------- | ---------- | |
| At 31st December 2020 | £357,152 | £359,566 |
| ====== | ====== |
Mr A. Buckland Chairman
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WRAYSBURY PAROCHIAL CHARITIES NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31[st] December 2020
| 1. | Accounting policy | |||||
|---|---|---|---|---|---|---|
| The financial statements have been prepared on a receipts and payments basis and in accordance with | ||||||
| those aspects of the SORP; Accounting | and Reporting by Charities | 2011, and other accounting | ||||
| standards, which apply financial statements following a receipts and payments format. | ||||||
| 2. | Grants and Donations for the year | 2020 | 2019 | |||
| £ | £ | |||||
| Wraysbury Village Hall | 8,000 | 8,000 | ||||
| Thames Valley Hospice | 4,000 | 3,000 | ||||
| Wraysbury Art Society | - | 510 | ||||
| Maidenhead Housing Assoc. (for supply of lifeline systems) | 6,836 | 6,095 | ||||
| Swan Community Radio | - | 2,500 | ||||
| Wraysbury Cricket Club | 300 | - | ||||
| Wraysbury Volunteer Group | 1,600 | 950 | ||||
| Wraysbury residents in need | 1,762 | 529 | ||||
| Wraysbury Pop In Club | - | 750 | ||||
| Poster Competition | - | 50 | ||||
| Wraysbury Karate Club | - | 500 | ||||
| Wraysbury School (Library) | 1,000 | - | ||||
| --------- | ---------- | |||||
| £23,498 | £22,884 | |||||
| ====== | ====== |
|||||
| 3. | Endowment Investments | |||||
| Units | Cost | 2020 | 2019 | |||
| Market | Market | Market | ||||
| Value | Value | |||||
| £ | £ | £ | ||||
| Investment | Funds:- | |||||
| BlackRock Charities UK Bond Fund | 40,279.402 | 54,626 | 79,552 | 76,771 |
||
| BlackRock Charities UK Equity Fund | 43,985.998 | 89,000 | 284,897 | 304,295 |
||
| M&G Charities Fixed Interest Fund | 85,525.995 | 89,000 | 107,318 | 106,095 | ||
| M&G Equities Investment Fund for Charities | 23,759.206 | 52,369 | 326,112 | 394,566 | ||
| ---------- | ---------- | ---------- | ||||
| £284,995 | £797,879 | £881,727 |
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WRAYSBURY PAROCHIAL CHARITIES
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31[st] December 2020
| 2020 | 2019 | ||
|---|---|---|---|
| £ | £ | ||
| 4. | Contingent Liability | ||
| Village Hall – repairs and renovations. | 8,000 | 8,000 | |
| Ongoing support of Lifeline Systems | 7,500 | 7,500 | |
| Thames Valley Hospice |
5,000 | 7,000 | |
| Wraysbury Volunteer Care | - | 2,500 | |
| Baptist Church Renovation Fund | 6,000 | 6,000 | |
| ---------- | --------- | ||
| £26,500 | £30,500 | ||
| ====== | ====== |
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