THE FRIENDS OF ST GEORGE'S MEMORIAL CHURCH YPRES
Registered charity number: 213282
TRUSTEES' REPORT AND ACCOUNTS FOR THE YEAR ENDED 30 JUNE 2024
THE FRIENDS OF ST GEORGE'S MEMORIAL CHURCH YPRES
CONTENTS
| Page | |
|---|---|
| Charity information | 1 |
| Trustees' report | 2 to 4 |
| Statement of Financial Activities | 5 |
| Balance sheet | 6 |
| Notes to the financial statements | 7 to 9 |
| Independent Examiner's Report | 10 |
THE FRIENDS OF ST GEORGE'S MEMORIAL CHURCH YPRES
CHARITY INFORMATION
Chairman Sir Edward Crofton, Bt
Trustees
Sir Edward Crofton, Bt Dr Derek Gallagher (retired 18 January 2024) Mr William Leetham Mr Michael McKeon Miss Eve Speare Mr Nigel Divers Mr Brian Fawcett (retired 18 January 2024) Miss Valerie Jacques Mr David Humberston Mr Christopher Sims Mr W P Foster Mrs Jacqueline Mary Tarrant-Barton (retired 18 January 2024) Ms Lara C McKeon (appointed 23 October 2023) Lt Col James Coleby (appointed 18 January 2024)
Charity Registration Number 213282 Principal Address 69 Honey Hill Whitstable CT5 3BP
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THE FRIENDS OF ST GEORGE'S MEMORIAL CHURCH YPRES
TRUSTEES' REPORT
FOR THE YEAR ENDED 30 JUNE 2024
The Trustees present their report and accounts for the year ended 30 June 2024.
The financial statements have been prepared in accordance with the accounting policies set out on page 7 and comply with the governing document, statutory requirements and the Statement of Recommended Practice: Accounting and Reporting by Charities 2011 (SORP).
Structure, Governance and Management
The charity is organised so that the Trustees meet to manage its affairs. There are currently thirteen trustees who manage the charity. The trust is also assisted by volunteers who offer their services from time to time.
In selecting individuals for appointment as Trustees regard is given to the skills, knowledge and experience needed for the effective administration of the charity. New trustees are provided with the trust deed and latest report and accounts, and appraised of the application of the charitable objectives set, and of the essential duties of a Trustee. This includes an annual evaluation of risks facing the Trust in pursuit of its charitable objectives.
Risk Management
The Trustees have informally assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate the exposure to major risks.
Objectives and Activities
The object of the charity is to provide interest and knowledge of St George's Memorial Church in Ypres, and to provide funds to ensure the future of the Church and augment the Endowment Fund administered by the Ypres British Settlement.
Grant Making Policy
Grant applications are considered by the Trustees and grants are given consistent with the charity's objectives.
Statement of Public Benefit
We have reviewed the Trust’s objectives in accordance with the Charities Commission guidance on public benefit.
Financial Review
The Statement of Financial Activities is shown on page 5. There was a net increase in total funds of £109,079 (2023: £9,056 decrease) after realised and unrealised gains on investments of £94,713 (2023: £24,758 loss). The Trustees confirm that the charity’s assets are available and adequate to fulfil its financial obligations.
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THE FRIENDS OF ST GEORGE'S MEMORIAL CHURCH YPRES
TRUSTEES' REPORT
FOR THE YEAR ENDED 30 JUNE 2024
Achievements and performance
The Trust was set up in 1955 to promote interest in St George's Memorial Church, Ypres and acting as a link between the Church and people in the United Kingdom and overseas, co-operating with other organisations in Belgium and Britain for the benefit of the Church, making grants to the Church for specific projects, and arranging visits to the Church by groups of members and friends.
We have made grants to the Diocese to assist prospective clergy candidates as well as the grants to the Church in Ypres. The investment income stream remains stable and shows a rate of return that is way above anything that can be obtained from normal deposits.
The stock market was impacted by war in Ukraine, but dividend yields recovered compared to the previous year. The portfolio is kept under constant review and changes are made from time to time bearing in mind the alterations to the fortunes of our investments.
The charity has ended the financial year in a sound and healthy state.
Investment Policy and Performance
In accordance with the Trust Deed, the Trustees have the power to invest in such stocks, shares, investments and property in the UK as they see fit. Rathbones manage the investments on behalf of the trust.
Reserves Policy
Whilst the need for certain specific reserves are identified to produce income for grants, the balance representing the general fund is retained on the basis of working capital being required in order to allow the charity to fund future activities in furtherance of its charitable objects over future years.
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THE FRIENDS OF ST GEORGE'S MEMORIAL CHURCH YPRES
TRUSTEES' REPORT
FOR THE YEAR ENDED 30 JUNE 2024
Statement of trustees' responsibilities
The trustees are responsible for preparing the Trustees' report and financial statements in accordance with applicable law and UK Generally Accepted Accounting Principles.
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 its incoming resources and application of resources for that period. In preparing those financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements, and
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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 accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011. 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 on 10 October 2024 and signed on their behalf by
Sir Edward Crofton, Bt Chairman
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THE FRIENDS OF ST GEORGE'S MEMORIAL CHURCH YPRES
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 30 JUNE 2024
| Note INCOME Voluntary income Investment income 2 Total income EXPENDITURE Expenditure on Charitable activities 3 Other expenditure 4 Total expenditure Net gains/(losses) on investments 6 Net movement in funds before gains/(losses) on investments Total funds brought forward Total funds carried forward Net income and net movement in funds Income from |
General fund £ 7,238 37,863 45,101 11,085 19,650 30,735 14,366 94,713 109,079 1,227,379 Unrestricted Funds 1,336,458 |
2024 Total £ 7,238 37,863 |
2023 Total £ 4,663 39,307 |
|---|---|---|---|
| 45,101 | 43,970 | ||
| 11,085 19,650 |
11,637 16,631 |
||
| 30,735 | 28,268 | ||
| 14,366 94,713 |
15,702 (24,758) |
||
| 109,079 1,227,379 |
(9,056) 1,236,435 |
||
| 1,336,458 | 1,227,379 |
All reserves movements are on Unrestricted Funds.
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THE FRIENDS OF ST GEORGE'S MEMORIAL CHURCH YPRES
BALANCE SHEET
AS AT 30 JUNE 2024
| Notes Fixed assets Investments 6 Current assets Debtors Cash at bank Creditors: amounts falling due within one year Net current assets Total assets less current liabilities Represented by: Unrestricted funds: General funds Total funds 7 |
£ 544 10,465 |
2024 £ 1,325,689 10,769 1,336,458 1,336,458 1,336,458 |
2023 £ £ 1,202,343 423 24,853 25,276 (240) 25,036 1,227,379 1,227,379 1,227,379 |
2023 £ £ 1,202,343 423 24,853 25,276 (240) 25,036 1,227,379 1,227,379 1,227,379 |
|---|---|---|---|---|
| 11,009 | ||||
| (240) | ||||
| 1,227,379 | ||||
| 1,227,379 | ||||
| 1,227,379 |
The financial statements were approved by the Trustees and authorised for issue on 10 October 2024 and signed on behalf of the Trustees by
Sir Edward Crofton, Bt Chairman
Mr William Leetham Treasurer
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THE FRIENDS OF ST GEORGE'S MEMORIAL CHURCH YPRES
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
1 Principal accounting policies
Basis of accounting
The financial statements have been prepared under the historical cost convention, as modified by the revaluation of investments. The financial statements have been prepared in accordance with the Charities Act 2011, the Statement of Recommended Practice (SORP) 'Accounting and Reporting by Charities'.
Incoming resources
Donations are accounted for on receipt, at the estimated value of investments donated, or the actual value of cash donated. Voluntary income and donations, and any gift aid relief, are accounted for on receipt by the charity, and recognised in the Statement of Financial Activities.
Resources expended
Expenses and grants payable are recognised in the accounts when they are incurred by the charity.
Investments
Investments are stated at market value. Realised and unrealised gains and losses on investments are recognised within the Statement of Financial Activities. Dividend income is credited to income on an accruals basis, using the date of payment of the dividend.
Reserves
The charity holds reserves in order to fund future charitable activities and grants in furtherance of the charitable objectives.
2 Investment income
| Income from investments Interest receivable on cash deposits Grants made Grants to Church and Diocese Charitable grants |
Unrestricted funds £ 29,112 8,751 37,863 Unrestricted funds £ 11,085 11,085 |
Total Total 2024 2023 £ £ 29,112 30,798 8,751 8,509 |
|---|---|---|
| 37,863 39,307 |
||
| Total Total 2024 2023 £ £ 11,085 11,637 |
||
| 11,085 11,637 |
3 Grants made
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THE FRIENDS OF ST GEORGE'S MEMORIAL CHURCH YPRES
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
4 Other expenditure
| Other expenditure | |
|---|---|
| Exchange (gain)/loss Newsletter Fundmanagers' fees Bank charges IT costs Insurance Sundry expenses Independent Examiners' fee |
Unrestricted Total Total funds 2024 2023 £ £ £ 15 15 (172) 2,945 2,945 2,301 7,581 7,581 7,413 47 47 43 781 781 2,956 605 605 580 7,436 7,436 3,270 240 240 240 |
| 19,650 19,650 16,631 |
6 trustees (2023: 8) received reimbursement of expenses during the year for travel costs, postage and stationery, of £4,648 (2023: £2,975).
5 Fixed assets
| Cost At beginning of year At end of year Depreciation At beginning of year At end of year Net book value At 30 June 2024 |
Website costs £ 21,572 |
|---|---|
| 21,572 | |
| 21,572 | |
| 21,572 | |
| - |
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THE FRIENDS OF ST GEORGE'S MEMORIAL CHURCH YPRES
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
6 Investments
| Investments | ||
|---|---|---|
| At Market Value At beginning of year Additions & disposals Realised and unrealised (losses) At end of year |
Listed investments £ 1,202,343 28,633 94,713 1,325,689 |
Total Total 2024 2023 £ 1,202,343 1,202,927 28,633 24,174 94,713 (24,758) |
| 1,325,689 1,202,343 |
7 Analysis of fund balances: movement in resources
| Unrestricted funds General fund Total Unrestricted Funds |
At beginning of year £ 1,227,379 1,227,379 |
Incoming resources £ 139,814 139,814 |
Outgoing resources £ 30,735 30,735 |
At end of year £ 1,336,458 |
|---|---|---|---|---|
| 1,336,458 |
8 Registered charity
The charity is registered in England (No. 213282) and as such is not liable to tax.
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THE FRIENDS OF ST GEORGE'S MEMORIAL CHURCH YPRES
INDEPENDENT EXAMINER'S REPORT
Independent examiner's report to the trustees on the unaudited accounts of The Friends of St George's Memorial Church Ypres, for the year to 30 June 2024
Respective responsibilities of trustees and examiner
The charity's trustees are responsible for the preparation of accounts in accordance with the Charities Act 2011 ('the Act').
The charity's trustees consider that an audit is not required for this year under section 144 of the Act 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,
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follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Act), and
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state whether particular matters have come to my attention.
Basis of independent examiner’s statement
My examination was carried out in accordance with general Directions given by the Charity Commission. 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 the 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 material matters have come to my attention which gives me cause to believe that in any material respect
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the accounting records were not kept in accordance with section 130 of the Charities Act; or
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the accounts did not accord with the accounting records; or
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the accounts did not comply with the applicable requirements concerning the form and content of the accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts 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 accounts to be reached.
Alex Spofforth FCA Spofforth Partners Limited Chartered Accountants Byne Cottage Manley's Hill West Sussex RH20 4BN
10 October 2024
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