Registered Ch￿lty No.. 207021 THE FRIENDS OF KENT CHURCHES TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 3 1 DECEMBER 2024 THE FRIENDS OF KENT CHURCHES TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Contents Pages Ckwtty details Trustees 'report Independent examiner's report Statement of Financial ACti￿tieS Balance sheet io Notes to the financial statements 11- 17 Page I THE FRIENDS OF KENT CHURCHES TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 3 1 DECEMBER 2024 Chari details Patrons The I￿rd Archbishop of Canterbury The Bishop of Rochester The Lord Lieutenant of Kent The Lady Kingsdown The Right Reverend Michael Turnbull CBE D President Mrs George Bracher, MBE. Vice-President The Hon Mrs Jennifer Raikes Mr Paul Smallwood. Hon. Secret Mrs Deb Sutch Hon. Treasurer Mrs Jane Bird. MA, FIA stered Charit Number 207021 Bankers National weSt￿]nSter Bank plc 3 High Street Maidstone ME14 IXU CAF Bank 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ Inde endent Examiner Mr Andrew Child8. FCA Magee Gammon Henwood House Hen￿roOd Ashford TN24 8DH stered Office PaT$onage Fann House Yalding Maidstone ME18 6HG Page 2 THE FRIENDS OF KENT CHURCHES TRUSTEES, REPORT FOR THE YEAR ENDED 3 1 DECEMBER 2024 Ob'ectives and activities The object of The Friends is to promote the preservation of churches in the county of Kent (pre-April 1965 boundaries) and to help maintain in good order their fabric and fixtures of special importance and to provide the facilities necessary to keep them in use. The Friends furthers its cbaritable purposes for the public benefit t[￿Ugh its grant-making policy> providing ￿antS to churches undertaking repairs to their fabric or installing facllities which are unable to fund such works theTn$elves. b}" proVid￿g short terni loans to churches camryng out works ivhich have a temporary shortfajl in income. by fostering interest in Kent's churches through visits and lectures for members and sponsoring a fund- raising event by a Kent church each year. By prO￿dIng grants The Friends assist Churches to keep their buildings in good repair and prevent further damage. ensuring that these churches are presen¢d for future use for religious and community purposes and for the eDjoyrnent of visitors. Grants go towards repair projects where churches have a shortfall in funds. Since May 2016 gra￿tS may ajso go towards installing facilities to ensure greater use of the church where a small grant Thryll make a big difference to a church. The grant$ sub-committee visits all churches that apply to see ivhat work needs doing, and see copies of the church's accounts before reconunending grant offers to the Executive Committee. All committee members, including those who assess grant applications. organise visits and lectyreg and organise the Ride & Stride arc voluntecrs and are unpaid. Policies Grant makin The policy for ￿ant making is that up to 27.50/0 of unrestricted reserves a¥ at 1st January each year shall be made available foT grant$ during the ensuing year. Grants approved but unpaid will be excluded from this calculation. The amount of money paid out in gra￿tS will. rf necessary, be further retstricted to maintain a ￿]niMuM level of reserves at or above £300,000 at the start of any one year. The proportion of 27.5Vo has been chosen to ensure that a more than adequate reseTve will be held in the charity to maintain its objectives. This policv is intended to maintsin a steady amount available for grant giving from year to year. so that there are no major tluctuations in the event of reCei￿ng a legacy or a sudden drop in sums raised by the Ride & Stride. It is subje¢t to regular review by the Executive Committee. The current figure of 27.5OA produces a sum larger than usual annual income from the Ride & StTide and donations as a result reserves decrease d￿Ing the years in u,hich there are no exceptional items of income such as large legacies whilst ensurillg that Stability is llLaintsined. Fund-raisin The Friends fund their grant programme through the Ride & Stride and from investment income, legacies and donation¥. Members, activities are funded from members. subscriptions and charges for events. The Executive Committee strives to ensure that costs are kept to a minimum. Minimal costs are claimed and the Ride & Stride subcommittee continually keep their Costs under reviellT to ensure that they are kept to a minimum compatible with the smooth running of the eiwent. All Ride & Stride sponsorship, other donatioThs and all legacies go to Kent's churches. Members, subscriptions and fees for visits, whilst low, are always checked to makn sure that ajl related costs are covered. The Trustees confinn that they have referred to the guidance contairEed in the ch￿Ety CoTumission's general guidance on public benefit when reviewing the Clwity's objectives and policies, and in planning future activities. Page 3 THE FRIENDS OF KENT CHURCHES TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 Continued Structure overnance and mama ment The Friends of Kent Churches operates under a consti￿tion most recently re￿Sed in 2016 and 2022. It is a registered Ch￿lty, number 207021. The charity is managed by an Executive Committee. Members of this Cornmittee are elected at the Annual Generaj Meeting for terms of three Ye￿8. Additional members Can be Co-opted onto this comjnittee in accordance the Consti￿tion. Mr Nigel Wheeler was a member of the committee ex officio as ChairTnan ol the Ride & Stride cojnrnittee but resigned during the year. The Executive Conmnittee elect$ its chairman and vice-ehairman fronl amongst its members. Trustees are chosen by the Executive Committee from amongst its n]ember8 and elected at the Annual General Meeting. All new Trustees receive an induction through discussion with other Trustees and are encouraged to visit different projects and events. They already fully familiar with the objectives and work carrked out by The Friends. Records are made a￿lIable includini. Documents which set out policies of the operation framework of the charity" Minutes of Committee meetings and the Annual General Meeting" . Financial information and annual accounts; Future plans. Achievement l Grant making The number of grant applications continued at a reasonable level Èn 2024. However, churches still struggle to raise the funds for large projects. There are several reasons for this. Declilling congregations make it less likely that churches will have the hunw) resources to raise funds and manage signifjcant projects. buitding costs have risen substantially in the last two srears. and sorne graut-giving chaTities which fonnerly supported church repair projects no longer do $0. The National Lottery Heritage Fund has increased its funding of church repairs, which is very welcome, but its prograrn￿e is n]u¢h SULaller th8ll that of the peri(Kl 2010-2016. Where churches succeed in raising money now it tends to take longer than in the past and they are more dependent on fund-raising from their local community. The Friend8 paid out £165,50012023 £132,000) in grants to churches in 2024 on completion of work carried out and are holding £154,00012023 £172,785) in reserve pending completion of building works when grants offered become pa}"able. DuTing the year 36 su¢cessful apph"cations were made for help and grants were offered allLounting to £169,50012023 £157,500). Four grant offers totalling £22,785 were declined or lapsed as work was not proceeding. No Its￿$ were outstanding at the start of the year nd one loan totalling £S.000 repayable within one year at 00/0 rate of interest was made during the year. 2 Raising funds Ride & Stride had another successful year. and the amount rdised wa8 up on 2022. The event raised £129,52812023 £118,488). Of this amount £65,214 {2023 £56,011) was re￿rned to the churches of the participants, choice. £19.454 aid was 8J80 received in the yw from the 2023 Ride & Stride. Page 4 THE FRIENDS OF KENT CHURCHES TRUSTEES, REpoiYr FOR THE YEAR ENDED 31 DECEMBER 2024 Continued 3 me￿be[ShIp and events The Executive Comn]ittee remains keen to increase ￿e￿berShip of Tbe Friends because a larger membership will increase legitin]acy, influence and income. In 2024 we again made a special effort to increase ￿eMberShIp by distributing to around 700 churches and chapels ITh the county posters advertssing the charity and directing would-be members to our website. The results were slightly disappointing, our membership continued to increase but at a slower rate than in 2023 in part because of severe problems with our website which applic8nt$ found difficult to ￿ess. Four tours were organised for members to a total of eleven churches, the Annual General Meeting taking place during one of these tour3. A number of churches were visited which The Friends had not been to before. The Friends make a donation of £100 to each church which we visit. We received a warn7 welcorne wherever we went IFL 2024 and our church tours were well attended. a$ were the two lectures which we arranged. In September the Friends commemorated the 75th anniversary of their foundation in 1949 at a ehoral evensong at All Saints, Maidstone. attended by the IA)rd Lieuterthnt and High Sheriff and by many of our members. Two pieces of nLUSiC were commissioned for the occasion. The costs of the event were met from donations. We used our anniversary to launch a legacy campai￿1 to raise funds for church rcpaxrs in Kent. Two churches arranged a sponsored orgarL recitsjs to r¥ise funds for repairs event during the year. 4 Governance Str Paul Britton had overall responsibility for the day-to-day running of the charity and chaired the Executive Committee. Mary Gibbins was vice-chairnian. The Ven Peter IJ)ck chaired the grants Subcom￿Lttee, Richard IAtham the investments subcommittee arld John Lumley the visits and lectures subcornmittee. Mary Gibbins succeeded Nigel Wheeler as chairti￿A of the Ride & Stride Committee The Executive Committee tnet lour times in the year. as required by the Ch￿Ity'S governiug document. The Friend's Investment portfolio with Redmayne BeTLtley was realised between April and June 2024 and the proceeds used to purchase in four tranches units in the COIF Investment Income Fwid rnanaged by CCLA. Reference and adrnini8trative detsils The Friends of Kent Churches is registered at the Charity Commission under this name with the number 207021. It SO￿etiMeS &ppears as Friends of Kent Churches. It has no principal oifice and officers use their bome addresses. The address registered the Charity Commission is that of the Treasurer, Jane BiTd. All correspondence concerning grants is dealt with by the Hon Secretary. Deb Sutch. Nevffl IA)dge. 4 Town Hill. West Mgjling ME19 6TF. The following acted as Trustees during the year: Jane Bird Paul Britton Rosettlary Dimond Mary Gibbins Ray Hart Susan Hooper Richard Latham Ven Peter Lock Margaret Williams Paul Wallace Page 5 THE FRIENDS OF KENT CHURCHES TRUSTEES, REpoiYr FOR THE YEAR ENDED 31 DECEMBER 2024 Continued Financial ReVI￿V In an average year we expect our outgoing$ to exceed our income because of our graDt-giving policy. In 2024 income from investrnents was higher than in the previous year, in line with returns across financial markets and the value of our investrnents increased by £10, 187. Expenditure exceeded income in the year by £7,579. We received legacies of £IO.000. The reserves held at the year-end totalled £625.31812023 £632,897). The Trustees have ensured that adequate resertfs were held in the charity at the year-end to ￿eet grants approved but unpaid, to pay sundry creditors. to maintain future investtnent income and to meet the object of assisting the promotion of the preservation of churche8 in Keat. Goin Concern After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in prep￿ing the financial statements. Further detai18 regarding the adoption of the going concern basis can be found in the accounting policies. Page 6 THE FRIENDS OF KENT CHURCHES TRUSTEES, REpoi¥r FOR THE YEAR ENDED 31 DECEMBER 2024 Conlinued The Trustees are responsible for preparing the Trustees. report and the f￿ancIal statements in accordance applicable law arLd U￿tea Kingdom Accounting Standards Iunited Kingdom Generally Accepted Accounting Practice). 'The law applieable to charities in England & Wales requires the Trustees to prep￿e finazlcial statements for each financial yw which give a true and fair view of the state of affairs of the Clwity and of its incoming resources and appjication of resources. including its income and expenditure. for that peri(xl. In preparing these f￿ancial statements, the Trustees are required to: Select suitable a¢¢ounting policies and then apply them consistently" obsertr the methods and principle8 of the ch￿ltieS SORP IFRS 1021; make judgments and accounting estimates that are reasonable and prndent" state whether applicable UK Accounting Standards (FRS 1021 have been followed, subject to 8ny aterial departures disclosed and explained in the f￿8￿￿￿1 statements,. prepare the financial staternents on the going concern basis unless it is inappropriate to presume that the Charity continue in business. The TTUStees are responsible for keeping adequate accounting records that are sufficient to show 8fAd explain the Charitys transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements coDply with the ch￿ltieS Act 2011, the Clwity (Accounts atLd Report$l Regulatsons 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. This report was approved by the Trustees and signed on their behalf by: Sir Paul Britton CB CVO Chairman and TTUStee Page 7 INDEPENDENT EXAMINER'S REpoRf TO THE TRUSTEES OF THE FRIENDS OF KENT CHURCHES I report to the charity Trustees on rn}. examination of the accounts of The Friends of Kent Churches (the Trnstl for the year ended 31 December 2024, which are set out on pages 9 to 17. Res onsibilities and basis of re As the charit￿8 trustees you 8Je re8pon817)le for the preparation of the accounts in accordance with the requirernents of the Charities Act 20 11 (the Act'l. I report in respect of niy exaJnination of the Cbarity's accounts carried out under section 145 of the 20 1 l Act and in C￿Ing out rny ex#Jnin&tion I have followed all the applicable Directions given by the ChaTity Commi88ion under Section 145151(bl of the Act. Inde endent examiner's statement The Charity's gross income exceeded £250,000 and I am qualified to undertake the exarnination by being a qualified member of the Institute of Chartered Accountants in England and Wales. I have completed my ¢x8rnination. I confirm that no material ULatter8 have come to my attention in connection the examination giving rne cause to be]ieve that in any material respect.. the accounimng records were not kept in accordance with section 130 of the Ckwities Act. or the accounts do not accord those records. or the accounts did not comply ivith the applicable requirements concerning the forni and content of accounts set out in the Chaxittes (A¢￿untS and Reports) Regulations 2008 other than any requirement that the account8 give a 'true and fair vievArf which is not a matter considered as part of 8fL independent exajnination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn tn this report in order to enable a proper understanding of the accounts to be reached. INDEPENDEwf EXAMINER'S REPOItt TO THE TRUSTEES OF THE FRIENDS OF KENT CHURCHES Continued This rew>rt is made solel) to the Charitys Trustee8. as a l￿dy. in accordance Part 4 of the Charities IAceounts and Reports) Regulations 2008. My work has been undertaken so that l Tnight State to the Charity's Trustees those rnatters l am required to state to them in an Independent examiner's report and for no other Purpose. To the fullest extent permitted by law. I do not accept or assume responsibility to anyone other thon the Charity and the Ch￿Ity'S Trustees as a Ixjdy. for llLy work or for this report. Mr Andrew J Childs FCA Henwood House Henwood Ashford Kent TN24 8DH Date: Page 9 ## THE FRIENDS OF KENT CHURCHES STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024 |Unrestricted
General
Notes
Fund
£
INCOME FROM:
(1c, 2)
Donations and legacies
19,450
Charitable activities
R&S sponsored cycle ride
150,145
Membership and events
16,151
Investments
28,594
Received in error
TOTAL INCOME
214,340
EXPENDITURE ON:
Raising funds
(1g, 5)
6,039
Charitable activities
(1h, 3)
Grants and distributions to churches
217,774
Membership and events
(5)
8,293
TOTAL EXPENDITURE
(1d, 1f)
232,106
Net gains/(losses) on investments
10,187
NET MOVEMENT IN FUNDS
(7,579)
RECONCILIATON OF FUNDS:
Total funds brought forward
632,897
TOTAL FUNDS CARRIED FORWARD
625,318|Restricted
Funds
£
-
-
-
-
-
-
-
-
-
-
-
-
-|Total
Funds
2024
£
19,450
150,145
16,151
28,594
214,340
6,039
217,774
8,293
232,106
10,187
(7,579)
632,897
625,318|Total
Funds
2023
£
88,113
138,463
10,174
16,930| |---|---|---|---| ||||253,680| ||||6,568
215,446
4,463| ||||226,477| ||||11,033| ||||38,236
594,661| ||||632,897| All activities relate to continuing operations. The notes on pages 11 to 17 form part of these financial statements. Page 10 THE FRIENDS OF KENT CHURCHES BALANCE SHEET AS AT 31ST DECEMBER 2024 |Unrestricted
Funds
Notes
£
FIXED ASSETS
Investments
(1i, 10)
-
383,146
TOTAL FIXED ASSETS
383,146
CURRENT ASSETS
Concessionary loan
(1j)
5,000
Debtors
(1j, 11)
3,000
Cash at bank
(1k)
389,528
TOTAL CURRENT ASSETS
397,528
LIABILITIES
Creditors: Amounts falling due within
one year
(1l, 12)
155,356
NET CURRENT ASSETS
242,172
TOTAL NET ASSETS
625,318
THE FUNDS OF THE FRIENDS:
Restricted funds
(13)
-
Unrestricted funds
(13)
625,318
TOTAL OF THE FRIENDS' FUNDS
625,318|Restricted
Funds
£
-
-
-
-
-
-
-
-
-
-
-
-
-|Total
Funds
2024
£
-
383,146
383,146
5,000
3,000
389,528
397,528
155,356
242,172
625,318
-
625,318
625,318|Total
Funds
2023
£
-
365,947| |---|---|---|---| ||||365,947| ||||-
3,628
437,897| ||||441,525| ||||174,575| ||||266,950| ||||632,897| ||||-
632,897| ||||632,897| The financial statements were approved by the Trustees and signed on their behalf by: ……………………………………………………….. Mr Richard Latham Date: ……………………………… The notes on pages 11 to 17 form part of these financial statements. Page 11 THE FRIENDS OF KENT CHURCHES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 - 1) ACCOUNTING POLICIES The principal accounting policies adopted in the preparation of the financial statements are set out below: - a) Basis of preparation of the financial statements. The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011. 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 Charities SORP (FRS 102) published 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. The Friends of Kent Churches 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. - b) Fund accounting General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors. The cost of raising and administering such funds are charged against the general (unrestricted) funds. The aim and use of each restricted fund is set out in note (14). - c) Income recognition Al income including donations is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. Gifted assets received are included at valuation if material. 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. Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank. Dividends are recognised once the dividend has been declared and notification has been received of the dividend due. This is normally upon notification by our investment advisor of the dividend yield of the investment portfolio. - d) Expenditure recognition - Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably. All expenditure is accounted for on an accruals basis. All expenses including support costs and governance costs are allocated or apportioned to the applicable expenditure headings. For more information on this refer to note (5). Page 12 ## THE FRIENDS OF KENT CHURCHES ## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Grant offers are accrued once the Trustees have approved the offers. Grants offers are subject to the satisfactory evidence being submitted of the completion of the work. Grants are payable within two years, once satisfactory evidence has been submitted of the completion of the works. As this is often within one year, no discount rate is applied. - e) Volunteers - The charity relies on support from volunteers who are unpaid. The value of the volunteer's time is not included in the SOFA. - f) Allocation of governance and other support costs Support costs have been allocated between governance costs and other support costs. Governance costs comprise all costs involving the public accountability of the charity and its compliance with regulation and good practice, including costs related to the statutory audit. Governance costs and support costs have been apportioned between fund raising activities and charitable activities depending upon the nature of the cost concerned. Fuller detail of this allocation of governance and other support costs is given in note (5). - g) Costs of raising funds - The costs of generating funds consist of investment management costs, printing, postage and other expenses incurred in the organisation of the Ride & Stride event and an apportionment of support costs as shown in note (5). - h) Charitable activities Costs of charitable activities include grants making, governance costs and an apportionment of support costs as shown in note (5). - i) Investments Investments are shown at market value. The SOFA includes the net gains and losses arising on revaluations and disposals throughout the year. The main form of financial risk faced by the charity is that of volatility in equity markets and investment markets due to wider economic conditions, the attitude of investors to investment risk, and changes in sentiment concerning equities and within particular sectors or sub sectors. - j) Debtors and concessionary loans Debtors and concessionary loans are recognised at the settlement amount after any discount offered. - k) Cash at bank Cash at bank includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. - l) Creditors Creditors are recognised where the charity 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 are normally recognised at their settlement amount after allowing for any discounts due. - m) Financial instruments The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest rate method. THE FRIENDS OF KENT CHURCHES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Page 13 |2)
INCOME FROM:
Unrestricted
General
Fund
£
Donations and legacies
Donations
4,042
Grants
5,408
Legacies
10,000
19,450
Charitable activities
Sponsored cycle ride
150,145
Membership and events
16,151
166,296
Investments
Interest on deposits
19,032
Investments listed on the Stock Exchange
9,562
28,594
TOTAL INCOME
214,340
2023
253,680
3)
EXPENDITURE ON CHARITABLE ACTIVITIES
£
Charitable
Activities
Funded from unrestricted funds:
Grants to churches (see note 4)
146,715
65,214
750
Membership and events
7,009
Total
219,688
2023:
211,753
Activities undertaken in order to meet the
objectives of The Friends to promote the
preservation of churches:
Sponsored R&S cycle ride: distribution to churches
John Briggs memorial lecture|Restricted
Funds
£
-
-
-
-
-
-
-
-
-
-
-
-
£
Support and
Governance
(see note (5))
5,095
-
-
1,284
6,379
8,656|Total
Funds
2024
£
4,042
5,408
10,000
19,450
150,145
16,151
166,296
19,032
9,562
28,594
214,340
253,680
£
Total
2024
151,810
65,214
750
8,293
226,067
219,909|Total
Funds
2023
£
4,756
2,405
80,952| |---|---|---|---| ||||88,113| ||||138,963
10,174| ||||148,637| ||||7,817
9,113| ||||16,930| ||||253,680| ||||£
Total
2023
159,462
56,011
-
4,436| ||||219,909| ||||| THE FRIENDS OF KENT CHURCHES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Page 14 - 4) GRANTS APPROVED AND CONCESSIONARY LOANS OUTSTANDING |GRANTS APPROVED AND CONCESSIONARY LOANS OUTSTANDING||| |---|---|---| |Unrestricted
GRANTS APPROVED
General
Fund
During 2024, in meeting the objectives of The Friends to promote the preservation
of churches, the following grants to Churches in Kent were approved.
£
Bexley
St Mary
5,500
Canterbury
All Saints
15,000
Chalk
St Mary the Virgin
500
Coxheath
Holy Trinity
5,000
Cranbrook
St Dunstan
3,500
Darenth
St Margaret of Antioch
1,500
Folkstone
Holy Trinity
7,000
Footscray
All Saints
1,000
Iwade
All Saints
6,000
Kingston
St Giles
7,500
Ruckinge
St Mary Magdalene
10,000
Smarden
St Michael the Archangel
1,500
Stalisfield
St Mary
2,000
Tudeley
All Saints
1,500
Upper Hardres
SS Peter & Paul
4,000
Warehorne
St Matthew
2,000
Whitstable
All Saints
1,000
Wrotham
St George
5,000
Yalding
Baptist
3,000
Staplehurst
All Saints
10,000
Broadstairs
Christ Church
5,000
Chatham
St John
8,000
East Peckham
Methodist
2,000
Erith
St John
4,000
Four Elms
St Paul
1,500
Faversham
St Mary of Charity
8,000
Folkestone
Harbour Church
10,000
Frittenden
St Mary
2,500
Hastingleigh
St Mary
2,500
High Halden
St Mary the Virgin
3,500
Maidstone
St Martin
6,000
Newenden
St Peter
1,000
Nonington
St Mary
3,000
Sutton-at-Hone
St John the Baptist
10,000
Willesborough
St Mary
2,000
Yalding
St Peter & St Paul
8,000
GRANTS APPROVED 2024
169,500
Less grant offers declined/lapsed
(22,785)
NET GRANTS APPROVED 2024
146,715
GRANTS APPROVED 2023
152,259
CONCESSIONARY LOANS|Restricted
Funds

£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-|Total
£
5,500
15,000
500
5,000
3,500
1,500
7,000
1,000
6,000

7,500
10,000
1,500
2,000
1,500
4,000
2,000
1,000
5,000
3,000
10,000
5,000
8,000
2,000
4,000
1,500
8,000
10,000
2,500
2,500
3,500
6,000

1,000
3,000
10,000
2,000
8,000| |||169,500
(22,785)| |||146,715| |||152,259| |||| During 2024, in meeting the objectives of The Friends to promote the preservation of churches, one concessionary loan to a Churche in Kent was made. (The Friends make concessionary loans repayable after a year at 0% interest) |||£|£| |---|---|---|---| |Biddenden|All Saints|5,000|5,000| THE FRIENDS OF KENT CHURCHES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Page 15 ## 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 |Governance:
Independent Examination Fee
Cost of meetings
Annual Report
Investment Management charges
Bank Charges
Insurance
Newsletter & other communications
Ride & Stride event
Website
Miscellaneous
Total
The equivalent figures for 2023 are:
Governance:
Independent Examination Fee
Cost of meetings
Annual Report
Investment Management charges
Bank charges
Insurance
Newsletter
Ride & Stride event
Equipment
Miscellaneous
Total||£
£
£
Member
ship
Total
854
284
1,138
135
45
180
990
330
1,320
1,482
-
1,482
80
-
80
-
280
280
536
179
715
-
-
-
108
36
144
910
130
1,040
5,095
1,284
6,379
810
270
1,080
135
45
180
936
312
1,248
3,513
-
3,513
60
-
60
-
280
280
1,349
450
1,799
-
-
-
209
69
278
164
54
218
1,480
8,656
Charitable Activities
Grant
making
7,176|£
284
45
330
-
-
-
179
4,905
36
260
6,039
270
45
312
-
-
-
450
5,367
70
54
6,568
Raising
Funds|£
1,422
225
1,650
1,482
100% Raising Funds
80
100% Raising Funds
280
100% Membership
894
4,905
100% Raising Funds
180
1,300
12,418
1,350
225
1,560
3,513
100% Raising Funds
60
100% Raising Funds
280
100% Membership
2,249
5,367
100% Raising Funds
348
272
15,224
Notes on allocation
Grand
Total| |---|---|---|---|---| |||||| ## 6) EMPLOYEES' EMOLUMENTS There are no employees. - 7) TRUSTEES’ EMOLUMENTS AND RELATED PARTY TRANSACTIONS a[None of the Trustees received any remuneration either directly or indirectly in the year] b[There were no expenses incurred by the Trustees reimbursed during the year] - c None of the Trustees or other persons related to the charity had any personal interest in any contract or transaction entered into during the year (2023 Nil). ## 8) INDEPENDENT EXAMINER The Independent Examiner's fee amounted to £1,356 (2023 £1,248). - 9) INVESTMENT MANAGEMENT Investment management costs amounted to £1,482 (2023 £3,215). THE FRIENDS OF KENT CHURCHES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Page 16 |THE FRIENDS OF KENT CHURCHES
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024||Page 16| |---|---|---| |10) INVESTMENTS (All U.K. based)
Quoted Securities
- Opening Valuation
- Purchase of Investments
- Disposal of Investments
- Surplus / (Deficit) on Revaluation of Investments
- Gains / (Losses) on Disposal of Investments
- Purchase of COIF units at CCLA
- Surplus/deficit on Revaluation of COIF units
- Closing Valuation
The cost of the investments as at the Balance Sheet
date was
The Investments consist of the following assets;
- Quoted Securities
- Fixed Interest
- Unit Trusts
- COIF Units with CCLA
- National Savings Income Bonds
11) SUNDRY DEBTORS
- Inland Revenue
12) CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Unrestricted
- Grants approved but unpaid
(4)
- Funds received in error
- Magee Gamon Chartered Accounts (Fee)
Restricted
- Grants approved but unpaid|2024
365,947
-
(347,879)
-
1,932
354,891
8,255
383,146
374,891
-
-
-
363,146
20,000
383,146
3,000
3,000
154,000
-
1,356
155,356
-|2023
324,642
49,250
(18,978)
13,312
(2,279)
-
-| |||365,947| |||342,826| |||267,023
41,516
37,408
-
20,000| |||365,947| |||3,628| |||3,628| |||172,785
500
1,290| |||174,575| |||-| THE FRIENDS OF KENT CHURCHES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Page 17 ## 13 ANALYSIS OF FUNDS |General Funds
Total Funds
The equivalent figures for 2023 are:
General Funds
Total Funds|Balance at
1 January
2024
632,897
632,897
Balance at
1 January
2023
594,661
594,661|Income
214,340
214,340
Income
253,680
253,680|Expenditure
(232,106)
(232,106)
Expenditure
(226,477)
(226,477)|Gains /
(losses)
10,187
10,187
Gains /
(losses)
11,033
11,033|Balance at
31 December
2024
625,318| |---|---|---|---|---|---| ||||||625,318| ||||||Balance at
31 December
2023
632,897| ||||||632,897|