Buckinghamshire Historic Churches Trust (Registrred Charily No 206471) Friends of Buckillghamshire's Historic Churches Annual Accounts and Trustees Report th I" May 2022- 30 April 2023 Buckinghamshire HÈstoric CFiurches Trust th Trustees Annual Report for the year ended 30 April 2023 The I'.harFtv 1.% known Ls ihe Buckinphamshire Ilistoric C.hurche5 Tn]st and is regisiered with the Charity C.04nmission under numlxy 20￿71. The Friends of RucktnghaMshi￿'S Ili5toric Churches. (Friends). is a related orttanisation operattn.g 5]nderth¢ same charity llU￿ber. The principal office of the trust is ihat of the Secretary= 14 Prior). Roa(L 14jtth Ilytunibe. Buck5, HPli 6SH Truytees The trusi¢es of th¢ ¢harity i+ho sm'ed durin. the )'ear ivere: The l.ord I.ieuienant, The Cffjunte55 lloiv¢ C SL J. Rt Ilc>n. Sir David l.idin(Tton KCB C.BF. Mrsc Abcl Smith OBF. Mr G Anson Mrs L AstOD The Ilon Mrs J A Farncombe Mr A Finn-Kelcey Mr P Rl>'nard Mr l. Johnson Mr% M Mo￿an CB L.ady Peel JP Mr R Ruck-Keene Mrs M A l. Sauiiders fvIBE Flis Flonour Christoph¥r Tyrcr DL Mrq M Villiets OBE DL Rt. Rev Dr Alall Wilson Bishop of Buckingham Presidenl Chairmatt Appeal Lommittee & Inspection LommitteE (ap￿inted 2P Malth 2023) Appeal Committtt & Inspection Committee Inspectiun C'oinrniiice Ttta8U￿r Chair of thc FrieTJds Appul Committee InsTXOi(m Q'.ommitlee {appoinied ?7 March 20?3) AP￿ Comrnillee & Inspection CommÉttee Vice President The off1eials of the Friends of Buckinghanishire's Ilistoric C.liurches &* ai the d￿C of thi.s T¢pon are= Mrs M Morg2M C,B Mr N Morgan Mr ('. Brearley CB MrDJPeck Chair Hon TThsurcr LoTr'ernance gnd Man8oement The charity is oovellied bj th¢'fTUSt Deed adOp￿d on the Awl 1957. Her Majesty's Lieutenant for the C'ounry of BuckinJ&n bas the power to apFoint new tNstees. In practice. such appoiniin¢nts al'e rccommended by the exislino - t￿str¢s having given due Consid￿li0n to the skills aT)d knowledge of the ap￿In[ee. The vfficial% of the Friend% arc appoinied by the InL%￿S. The irustLes rneet every four month% 10 Coftbider matteTS relating to the charitv. in panicular the reports from the Appeal Commiltee and the Inspection LoTnfftiitee. The latter reswnds to applications for grant assistance tnade to tl]e trust by visiting the applicant church and submittints aTecomrnendation to the trustees. Objectives and .4etii'itTes The prÈTrcipal objects of the trusl are the preservation and imwovemenl of churthcs in Buckingharnshire. The objects are achieved by making grants aV3Rlable for the purpose of such preservativll and improveTnent. Cirants are funded from the net income and reseTres of the tDJSt. The trltst is reliant on in£om¢ fr4)m investments and various fiind-rdising events Including fun￿ nis¢d bv the frriends. The Friends of Bud(in.oh2msbir¢'s Historic Churches is as a separdte i5atiOD Withtii BU¢kin￿haM5h1ye Flistoric Churches Trllst.. undet il5 terrns of reference &s revised by the Tntstees October ?01) the aims of the Friends ar¢ to raise awarenESS of the l rnsL to involve more people in its actlvities and to raise funds for the tru8t. Under the tcr5ns of reference once a}e8r th¢ Frtends transfer to the'lrust an), sums held in excess or £3000. AehTevements PerfonknATrce Governance During the v¢aT the trnstees continued to revrew aDd Implement relevant tK)licies and procedures wtthin the TTr￿t. lft particular updated policies in respeu of Conflicts of Int¢resl and Risk Mana(FemeDt have been agreed and intr￿qUeed. The Jant application process bas been revi¢1¥￿ Work on other policies and pr(Kedures is ongothts ana all policies will be sllbject to annua] review. The trusi¢¢s have in5tF(rated a reviem, of the investtnents held by ihe trnst with a vitw to moximÈsin.4 income where possible without tncreagsng risk unduly. The trust eontinucd to make ¥Trrnnts to various ¢hurches for preserl'ation ptojeLls. The IriiKtees dlso made available grants of £500 to those churrhes wbo wished io instsll alarTn 5ysiems to deter the theft of ri)ofu]g malerials. Such gr￿ts were made in addition to similar grants made from funds made available to the trust by th¢ All¢hurd)e5 trust {see. beloH') During the ye3r. th¢ trust Made 15 grants to a tots] value of £53.000 of which 13 were main grants to a v21ue of £5? 000 a￿d ? roof grdllts to a vallle of £l.000. The trust authoTI.%cd 2 Wdllts totalling £5:000 from the Allchurches fi￿d r¢spea of roof alarm systems. In linc K¥.'ith thc a￿eemEnt Mifh thc Allchurches tnjst ￿nd unallocated funds vf£J5.748 wcrc rclumcd to the fulld dursng the year. Involvement witj) the n2tional"Rid¢ & StrÈde"' event nis¢d a Del r￿Ure of £10.678 i¥hich ￿a5 a further reduction froTll the previous year and reflects the corbcerns ab￿¥ the fijrure Sllp￿)rt for this event The surnrn￿ reception and otlier evenL%' rdised £9.(M)O neL Income from investtnents amounted to £ 3? 573 (£i2,087 ?022) The Priendb LOII¥Lt subsLripiion5 from n)LM￿.rS ano rnise rnoncy through oroanised events- othLY donations art accepted fro￿ individuals and chuTche5 to further the work of the TrusL Gift aid QD subscriplions and donations is clairned by and pa]d directly to th¢ T￿￿¢. A retM)rt fr(wn the Irustee5 of the"Friends- appe&s at th¢ of this report. Fingncial Review Durin? the year ihe tTUSt had a surplus of income over expendTtl￿e in unreStrl￿ed fund5 of £16,784. The value of investments decre&sed bv £15.485 50 that unrestricted fimd5 rose to £974.6•7. Following ihe retum of SUTplus funds the restricteA fimd (Allcjjurches TTUSt) w&8 reduced tt> ZETO. The Friends had an excess of expenditire over income of £63. The Friends fl￿￿$ at £5,698 at the year-etyd (£5.761in 20￿). Roserves Policy The tvjstees seek to maintain the level ofreseTves at ￿ch a level &$ to uellerdte sufficient income to maintstn Iheir orant at a level tyill provide Tneaninoful supwrt to church reslordtiOO projects. As far is possible all surplus incom¢ is used to fund grdnt making TD the same fin￿¢1￿] year. Ilowever, the trnstees will consider making grdnts using fvnds fmm reserves where the application is regarded of b¢intt of exceptional merit or uruencv. Public Benefjt The tsust has referred to the.tsuidance conlained in the Charity Commission's general ¢widance on public benefit whcn reviewin￿ its atms and objec(iYes and in Plan￿1n(S future actÈviiies. In parti￿lat. the trustccs consider how pI2T)n¢d acliwiti¢s will conLrtbul¢ to LbL airns objeciives (ney have seL Signed on bEhalf of the t￿steeS. Sir D&vid Lidin n KCB CBE QLJ R¢port of the Frieods of BUCkin2ha￿sh1re,S Htstoric Churches In ?0?? il'e ivere at last able io hold our usual three eveTrts in pLrsoTL for ihe fjrst time since 2019. In June i%e visited Hartwell IIou5e, near Avlesburv, for f￿InatIng iaiks on the history of the house and the no redllndant church, followed by an excellelli lunch one of the fu]e T￿MS. In August we arranoed a successful church craw"] by L.r7. C'halmet5, vis¥1ing l.ittle and the CFreat Flampden d)urche8 ￿1th lunch in betlveen. And fmally iti Nov¢TTrb¢r the Trnst chainnan. Sir David Lidinoton Jve tt fasciTratino talk in St Mary's Princes Risborough on'secrets of the House of Commons," it dr¢￿. a large cro%¥d and was undoubt¢dly our most successful annual ILXturL )'L*. Once again, we were able to make &contribution of £5.000 w the rna1￿ tsust to assist with their grdnt makin prot7ramme. We remain grdteful io all our Friends for their continued sllpport throughout the vw. signed on behalf of the tTr￿lees. OP Mrs M Morgan CB Date I IM)EPENU)EN'T EXAMINERS RLPOkl' I'O I'IIL TRUS'I'LLS OF BUC￿NGHAMsH1RE HISTORIC CHURCHE&i TRUST Regtsteml Ckarity 206471 I report on the ofth¢ Trust forthe vearen¢k6 30 Apnl ?.02.3 wthith are SLX Out OTJ pag¢s one to four. Resp¢¢tive responsibilitiL8 of trnsttts and exarniner. The charity's trustte8 are responsible for the prEparatioll of the accounts. The charity's tn]stecs ctmsider an audti is not ￿qUired fvr this year uA&rs¢ -310.47 &999 8.466 23 -370.75 &09&48 (ioldenJubikeBwk" Sales GranLsIVrity¢n Ba¢k 7.ty￿ (WJ Th￿de[ 31.676.87 .17 96.?7 sL￿¢sJI 32.050.15 BaDl1￿ere MÈ5t Incornc 73.130A3 EXPENDrruR£ (JraLIts Au0￿(L*￿ itt Ntwsjcikr Prodwuun & Pn￿ting Stariorrfry, Pw,Teiepknr* d 5J.IYA>. 465 87 303 65 Insurattce lank ictvicc CharBEg PAFll5Ès 345Jl Y5.31 43. Ad￿[niSt[?11Qn(.0sIs Web Site &%oe T•tal £xptridithfE l.nre5lrict￿ Ex¢c55 of I￿CO￿C overEAPtThdiEiire l.D98.T7 8til I 3.851 .3% 30.967.99 33.092.13 14.97S08 1478L19 -J44$4. 1399.24 ITrRF.AI.I.SED S1'RPLII￿1Asgl ON Mry_STIIEYrs INco￿lf¥C RTrSOllRCbS T)tsnaknon$ Ti)tlll IThe0m￿£ Rtsourtt5 RtslriEted 0.00 EVF.lil)fTiTRF. (irllnls A￿1h￿rI￿-d TTr Year&Retwn ofl.-wknts TTrtsl Rulficltd Funth illcome 40748 40748 4Q.748.r 949?.(K) -2.493.110 SIINIIIARY ALLFU¥DS Totsi Rty)urce5 ToLIl ExpeTrditurL' Ioicment ￿ Fttrths RKALISED5IIRPLIIWIIXJ&S) ON 1Tr4I'FSThIENtS 73.Y3Q65 -97.09&44 -23.963.81 61.06￿12 -33,460.99 10.V)¥.13 14,975.08 4557421 -n*48.76 Buckinghamshire Historic Churches Trust Balance .Sheet as at 3(hh April 2023 2023 2022 FIXED ASSETS Investments at Market Value COIF Income shares COIF Fixed Interest Fund S¢hrod¢TS Equty Income (Gromrtb Trn￿) 519J59.74 210,705 ?8 ?J9.977.88 970,IH2.90 526,477.44 218,167.3.f ?40.883.06 98&527.85 CURRFNT ASSETS Debiors & Prepay1￿¢￿ts COIF Charities Deposit Fund Cash at Bank and in IlarKI Total Currenl Assets i.875. 39.070. 48.6J8.77 91083.77 4,623.75 J9,070.00 70.597.83 114.291.58 CURRFNT LIABILITIES Sundrv LTrtditor5 tirants Approv¢d Bvr Not Paid 744.00 85.000.00 87.OIM).IM) 87,000.00 NET CURRENf Ass￿rS 4,583.77 2&)-47.i8 Total A&sets Le55 CllTreTht Liabilitics 974,626.67 1,014,075.43 FUNDS (UNRESTRICTED) Fund BalaThce broll￿t forward l May 2022 Net rnovesnellt in funds for th¢ y Fund Bal*nce tarried forward 30th April 2023 973A27.43 9?5,260.22 48.067_?1 973J27.43 974,626.67 FUNDS IRESTRICTED) Allehueh¥ Trust Roof Alam Gralli Fu2d Fund Balance brought forward l May 21Y22 Net movement in Cunds for the year Fund Balaiiee e#rried forward 30th April I1￿3 40748. -40.748. 43241.00 -2493.00 40748.00 TOTAL FUNDS 974.62&67 1,014,075.43 BuckRnghamshire Historic Churches Trust Notes to the Accoullts for the year ended 30th April 2023 l Ac¢(Funting Polteies a Basis of Accounting These accowTrts have been preptred in owordaJ)¢¢ with the St&e￿ent of Recommended Practice fi)r ChaTities. The investsnents ÈTe included at market value Is ￿0￿￿￿d¢d by the SORP. Grants made are accounted for in the yedr in whith they are authoris Subscttptiong and donations are accounted for the year in which they are paid or rrteived and include Gift Aid where appropriate. Dividend and OlhLY Investtnent Income is xcounted for in the y¢ar ill it is received 2 Investment Assets ma￿et Value at beginning of Year Addttions during year at cost Add / (Deduct) Movemettt on Valuati(Tr 98S,528 {15.485 j Market Value at end of year 970,043 Cost as ￿ tDd ofyvar 639.000 Market Valuo at end of year COIF Income Shares COIF Fix¢d Interest Fund Schroders Equity Income (Growtb TrusE) 519.360 210.705 2J9.978 970.043 Investments forn)ing more th&t 50/47 ofthe Assets le&$ Ltabiliti % of Net Assets of TnLSt ?022 51.9?O/0 21.510/0 23.75 /0 COIF Incorne Share5 COIF Fixed Interest Fund Sclirodei 14uity In¢ome (Gr￿yth Trust) 24.62% Restricted Fund The restrsci¢d fund related to monTeS Tlt2de available bv the A]ldu￿be$ Tn￿ io assist with the provision of grants for rnof alarm syst¢ms to those thurches deemed m¢)st at r&sk of Irdd theft In accordance our agreement all unus¢d fi]nds have now been returned to the Allchurchts TrnsL Friends of Buckinghamshire's Historic Churches Statement of Financial ActEvilie5 for the Jear ￿ded 30th Aprtl 202) 2023 2022 conting re50UfCe5 Subs¢riptions tses]eral DonatSORS Income kn knks sal¢$ 2nd evurts 4.565. 167.00 1,699.00 6.4J 1.00 8.47 6.4)9.47 4.765.00 0.00 450.00 5215.00 0.00 5215_00 Bank Interest Total Inc<)ming Resour¢es Expeftditure Stalionery,Postage & Printing Bank. Cwes Cosi of evEnt5 T￿￿ee Exper￿eS Transfer of doTrations to Bucks Historic Chwches Tn￿t Total F.xpenditure 89.76 87.25 1325.7? 0.00 5.¢M)O.00 6 £0?.73 0.00 110.50 0.00 0.00 5,(NlO.00 5,110.50 Net Ineomi]Rg Resources 3.26 104.50 Friends of Buckinghamshire's Ilistoric Churches Bal￿]£¢ Sheet as at 30th April 202) 2023 2022 C.urrcnt A$5ets Cash at Bank 5,69821 i,761.47 Current Liabilities Creditors { BHC-r } Net Cu￿ent knsets 0.00 5,761.47 5.69821 FUNDS frund BaEance broughl forwth 1st Ifjay 2022 Net movement in fllnds Fund Balance canied fonvord )Oth April 2023 5,761.47 326 5,698.21 5,656.97 104.50 5,761.47