2021-12-31-accounts - The Friends Of Kent Churches

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Patrons				The Lord Archbishop		ofCanterbury
				The Lord Bishop ofRochester
				The Lord Lieutenant		ofKent
				The Lady Kingsdown
President				The Right Reverend		Michael Turnbull,	CBE, DL
Vice-President				Mrs George Bracher,		MBE
~H. R		t		Mrs Deb Sutch
Hon.	Treasurer			Mrs Jane Bird, MA,		FIA
Re 'stered		Charit	Number	207021
Bankers				National Westminster 3 High Street		Bank pic
				Maidstone
				ME14 IXV
				CAF Bank
				25 Kings Hill Avenue
				Kings Hill
				West Mailing
				Kent
				ME19 4JQ
Stockbrokers				Redmayne-Bentley	LLP
				1 Mount Ephraim	Road
				Tunbridge Wells
				TNI IET
Inde	endent Examiner			Mr Andrew Childs,	FCA
				Magee Gammon
				Henwood House
				Henwood
				Ashford TN24 8DH
~R'	d	Ofd		Parsonage Farm House
				Yaiding
				Maidstone
				ME18 6HG

FOR THE YEAR ENDED	31DECEM	BER 2021	BER 2021
		Unrestricted		Restricted	Total	Total
			General	Funds	Funds	Funds
		Notes	Fund		2021	2020
					p
INCOME FROM:		(lc, 2)
Donations and legacies			22,303	(32,456)	(10,153)	8,079
Charitable activities
RS,S sponsored cycle ride			134,542		134,542	132,233
Membership and events			9,417		9,417	5,627
Investments			9,197		9,197	12,176
TOTAL INCOME			175,459	(32,456)	143,003	158,115
EXPENDITURE ON:
Raising funds		(lg, 5)	3,871		3,871	5,457
Charitable activities		(111,3)
Grants and distributions	to churches		167,497	1,927	169,424	170,946
Membership and events		(5)	3,546		3,546	1,534
TOTAL EXPENDITURE		(ld, 10	174,914	1,927	176,841	177,937
Net gains/(losses) on investments			25,480		25,480	(60,133)
NET MOVEMENT IN FUNDS			26,025	(34,383)	(8,358)	(79,955)
RECONCILIATON OF FUNDS:
Total funds brought forward			555,209	34,383	589,592	669,547
TOTAL FUNDS CARRIED FORWARD			581,234		581,234	589,592

AS AT 31STDEC	EMBER 2021
		Unrestricted		Restricted	Total	Total
			Funds	Funds	Funds	Funds
					2021	2020
		Notes
FIXED ASSETS
Investments		(li, 10)	402,529		402,529	380,994
TOTAL FIXED ASSETS			402,529		402,529	380,994
CURRENT ASSETS
Concessionary loan		(lj)
Debtors		(lj, 11)	1,250		1,250	2,675
Cash at bank		(Ik)	302,475	2,500	304,975	366,195
TOTAL CURRENT ASSETS			303,725	2,500	306,225	368,870
LIABILITIES
Creditors: Amounts	falling due within
one year		(11, 12)	125,020	2,500	127,520	160,272
NET CURRENT ASSETS			178,705		178,705	208,598
TOTAL NET ASSETS			581,234		581,234	589,592
THE FUNDS OF THE	FRIENDS:		581,234		581,234	589,592
Restricted funds		(13)				34,383
Unrestricted f~nds		(13)	581,234		581,234	555,209
TOTAL OF THE FRIENDS' FUNDS			581,234		581,234	589,592

FO	R THE YEAR END	R THE YEAR END	E		31DECEM	BER 2	021
2)	INCOME FROM:						Unrestricted	Restricted	Total	Total
							General	Funds	Funds	Funds
							Fund		2021	2020
									E	E
	Donations and legacies
	Donations						4,073		4,073	3,732
	Grants						3,572	(32,456)	(28,884)	4,347
	Funeral collections						239		239
	Legacies						14,419		14,419
							22,303	(32,456)	(10,153)	8,079
	Charitable activities
	Sponsored	cycle ride					134,542		134,542	132,233
	Membership	and events					9,417		9,417	5,627
							143,959		143,959	137,860
	Investments
	Interest on	deposits					110		110	716
	Investments	listed	on		the Stock Exchange		9,087		9,087	11,460
							9,197		9,197	12,176
	TOTAL INCOME						175,459	(32,456)	143,003	158,115
	2020						158,155		158,155
3)	EXPENDITURE ON		CHARITABLE ACTIVITIES
									E
							Charitable	Support and	Total	Total
	Activities undertaken			in order to meet		the	Activities	Governance	2021	2020
	objectives of	The Friends to promote the						(see note (5))
	preservation	ofchurches:
	Funded from	unrestricted funds:
	Grants to churches		(see note 4)				103,471	7,460	110,931	111,887
	Sponsored RarS cycle			ride: distribution		to
	churches						56,566		56,566	54,442
	John Briggs	memorial			lecture
	Membership	and events					2,411	1,135	3,546	1,534
	Total						162,448	8,595	171,043	167,863
	Funded from	restricted			funds:
	Grants to churches		(see note 4)				1,927		1,927	4,617
	2020:						239,832	3,376	167,863

GRANTS APPROVED AND CONCESSIONARY	GRANTS APPROVED AND CONCESSIONARY	GRANTS APPROVED AND CONCESSIONARY	LOANS OUTSTANDINC	LOANS OUTSTANDINC	LOANS OUTSTANDINC	8	R
						Unrestricted
GRANTS APPROVED							Restricted	Total
						Fund	Funds
During 2021, in meeting the objectives ofThe			Friends to promote		the preservation
ofchurches,	the following grants to Churches		in	Kent were approved.
Bexleyheath		Christ Church				5,000		5,000
Crayford		St Paulinus				10,000		10,000
Denton		St Mary Magdelen				1,250		1,250
Ditton		St Peter as V				8,000		8,000
Five Oak Green		URC				1,500		1,500
Hawhurst		St Laurence				328		328
Headcorn		St Peter Bs Paul				7,000		7,000
Milton Regis		Holy Trinity				6,500		6,500
North Fleet		StBotolph				8,000		8,000
Sandhurst		St Nicholas				865		865
Westgate on	Sea	URC				7,500		7,500
Ashford		St Mary' s				1,550	1,450	3,000
Chevening		St Botolph				5,000		5,000
Eythorne		St Peter Ik Paul				500		500
Foots Cray		All Saints				2,000		2,000
Frittenden		St Mary				2,000		2,000
Hoo		StWerbergh				2,000		2,000
Ridley		St Peter				6,000		6,000
Cobham		St Mary' s				10,000		10,000
Smallhythe		StJohn				1,000		1,000
Tunbridge Wells		StBarnabus				1,000		1,000
Tunstall		StJohn				12,500		12,500
Willesborough		Christ Church				4,000		4,000
Woodchurch		All Saints				3,000		3,000
Wrotham		St George				1,000		1,000
Maidstone		All Saints				6,000		6,000
Kennington		St Mary				10,000		10,000
Ivychurch		St George				478	477	955
GRANTS APPROVED 2021						123,971	1,927	125,898
Less grant offers declined/lapsed						(20,500)		(20,500)
NET GRANTS	APPROVED 2021					103,471	1,927	105,398
GRANTS APPROVED 2020						107,389	4,617	112,006
CONCESSIONARY		LOANS
During 2021, in meeting the objectives ofThe			Friends to promote		the	preservatton
ofchurches,	no concessionary loans to Churches			in Kent were made.
(The Friends	make	concessionary loans repayable		after a year at	0'/0	interest)

FO	R THE YEAR ENDED 31	R THE YEAR ENDED 31	R THE YEAR ENDED 31	R THE YEAR ENDED 31	DECEMBER 20	21	21	21
5)	ANALYSIS AND ALLOCATION				OF GOVERNANCE	AND OTHER SUPPORT			COSTS
	Unless otherwise	stated,	costs		are split approximately		according to the time spent by the Trustees.
	This is taken to be 20%		raising		funds, 20% membership			and events and	60%grant making activities
							E	E	E	E	8
							Charitable Activities			Raising	Grand	Notes on allocation
						Grant		Member		Funds	Total
							g	ship
	Governance:
	Independent Examination			Fee			734	245	979	245	1,224
	Cost ofmeetings
	Annual Report						876	292	1,168	292	1,460
	Investment Management		charges			4,800			4,800		4,800	100%Grant Making
	Bank charges						97		97		97	100%Grant Making
	Insurance							280	280		280	100%Membership
	Room and stall hire									150	150	100%Raising Funds
	Newsletter &,other communications						876	292	I,168	292	1,460
	Ride &, Stride event									2,867	2,867	100%Raising Funds
	Equipment
	Website							26	104	25	129
	Miscellaneous
	Total					7,460		1,135	8,596	3,871	12,467
	The equivalent figures for 2020 are:
	Governance:
	Independent Examination			Fee			728	242	970	242	1,212
	Cost ofmeetings
	Annual Report						904	302	1,206	302	1,508
	Investment Management		charges			1,818			1,818		1,818	100%Grant Makmg
	Bank charges						60		60		60	100%Grant Making
	Insurance							280	280		280	100%Membership
	Newsletter &,other communications						840	280	I,120	280	1,400
	Ride & Stride event									4,587	4,587	100"' Raising Funds
	Equipment
	Website						71	24	95	24	119
	Miscellaneous						77	11	88	22	110
	Total					4,498		1,139	5,637	5,457	11,094

FO	R THE YEAR END	ED 3	1 DEC	E	MBER 2021
							2021	2020
10)	INVESTMENTS (All	U.K. based)					F.
	Quoted Securities
	- Opening Valuation						380,994	440,893
	- Purchase ofInvestments						18,980	248,070
	- Surplus / (Deficit) on Revaluation				ofInvestments		25,103	26,738
	- Gains / (Losses)	on Disposal ofInvestments					377	(86,871)
	- Disposal ofInvestments						(22,925)	(247,836)
	—Closing Valuation						402,529	380,994
	The cost ofthe investments		as at the		Balance Sheet
	date was						327,778	333,016
	The Investments consist of		the following assets;
	- Quoted Securities						283,519	264,248
	- Fixed Interest						39,414	48,140
	Unit Trusts						59,596	48,606
	National Savings	Income	Bonds				20,000	20,000
							402,529	380,994
	SUNDRY DEBTORS
	—Inland Revenue						1,250	2,675
							1,250	2,675
12)	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
	Unrestricted
	—Grants approved	but unpaid				(4)	125,300	159,072
	- Magee Gamon Chartered		Accounts		(Fee)		1,212	1,200
	- Redmayne Bentley management			fee			1,008
							127,520	160,272
	Restricted
	—Grants approved	but unpaid					2,500	2,500

		Balance at					Balance at
		I January			Gains	/	31 December
		2021	Income	Expenditure	(losses)		2021
				S	S
Restricted Funds
Allchurches	Trust	34,383	(32,456)	(1,927)
Total Restricted Funds		34,383	(32,456)	(1,927)
General Funds		555,209	175,459	(174,914)	25,480		581,234
Total Funds		669,547	175,459	(176,841)	25,480		581,234

		Balance at					Balance at
		I January			Gains	/	31 December
		2020	Income	Expenditure	(losses)		2020
					8		F.
Restricted	Funds
Allchurches	Trust	39,000		(4,617)			34,383
Total Restricted Funds		39,000		(4,617)			34,383
General Funds		630,547	158,115	(173,320)	(60,133)		555,209
Total Funds		669,547	158,115	(177,937)	(60 133)		589,592