OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2024-12-31-accounts

TRUSTEES OF RIVINGTON CHAPEL

ANNUAL REPORT

AND

FINANCIAL STATEMENTS

FOR

THE YEAR ENDED 31 DECEMBER 2024

Registered Charity Number:

240302

Registered Charity Name: RIVINGTON PRESBYTERIAN CHAPEL (TRUST PROPERTY HELD IN CONNECTION WITH)

1

RIVINGTON PRESBYTERIAN CHAPEL TRUST

Registered Charity Number 240302

Date of Registration 03/05/1965

Operating as Rivington Chapel Trust

Chairman A Richard Horrocks Secretary John Winstanley Treasurer Susan C Walton Trustees: Fank Ascroft Paul M Fairclough Olive Fisher (resigned September 2024) Christopher E Haighton Christopher P Martin Vincent G McCully Timothy Kershaw Deborah J Atkins

Ian Turnbull

During the year the Manchester District Association of Unitarians Cheshire (Inc) continued to act as the Custodian Trustee.

2

Report of the Trustees for the year ended 31 December 2024

The Trustees present their report together with the Accounts of the Charity for the year ended 31 December 2024. The Accounts have been prepared on an historical cost basis and reviewed by an independent person to comply with the Charity’s Constitution and applicable law.

1. Constitution & Objects

At the 2020 AGM in March, the Trustees agreed to adopt a new constitution. The Charity Commission have informed us that we are not able to change the objectives of the charity, nor include a winding up clause. We therefore reworded the constitution agreed in 2020 so that it met with the Charity Commission’s approval. This was presented at the AGM in 2022 and subsequently accepted by the Charity Commission, although they refer to the constitution as a resolution. The full governing document of the Charity is now the original 1964 document (Rivington Chapel, Properties held by the Trustees and the Trusts affecting the same) together with the amended constitution/resolution.

2. Public Benefit Statement

The Trustees have had regard to the Charity Commission guidance on public benefit. In pursuit of the Objects of the Trust, the Trustees provide a place of worship for all to attend.

3. Organisation

The Trust operates as an unincorporated association and new Trustees are appointed on the occasion of retirement and/or death of existing Trustees, with a new Deed of Retirement and Appointment being drawn up as required.

The names of the Trustees who have served during the year are set out on the front cover of the Report and Accounts. During the year two meetings of the Trustees were held.

4. Financial Review

5. Risk Management

The Trustees have examined the major strategic, business and operational risks which the Charity faces and confirm that systems have been established to enable regular reports to be produced so that the necessary steps may be taken to reduce and/or lessen those risks.

3

6. Management & Governance

The Trustees make use of professional advisers and approved contractors whenever advice and work is required to manage investments and maintain the buildings and grounds.

7. Reserves

There are currently no designated or restricted funds i.e. endowments; those that have existed in the past have been absorbed into the current charity after all the provisions have been discharged. The Trustees have pursued a policy of spending on repairs and maintenance of the buildings and grounds in support of the Congregational Committee to continue the traditions and presence of Unitarianism in Rivington. Surplus funds are invested at an agreed level of risk and return to preserve capital values and generate income.

4

Chairman’s Report 2024

While we entered the year in a relatively stable condition in terms of the standard of the estate including the tearoom in the former Sunday School building, after the March 2024 AGM it became evident that challenges lay ahead in terms of the satisfactory functioning of the trustees. These were precipitated by the illness in March and subsequent death of Peter Bearon in June, who had occupied both positions of Honorary Treasurer and Secretary and so created a serious challenge to the governance of the charity. Not only had Peter Bearon, acted as a trustee for over 30 years, but he had occupied all official positions during that time and so had accumulated a unique experience of the history of the trustees, their deliberations and the charity in general during this period. After meetings with the trustees and representatives of the Manchester District Association (MDA), it was agreed that the post of Secretary would be offered as a paid position, and that the incumbent would not be a trustee but act only on their instructions. This change in policy from an honorary to a paid role was considered to be a model that the MDA might use in the future should other chapels find themselves in a similar position. The post was filled by August 2024 by the present incumbent Mr John Winstanley who with his business connections across the entertainment industry saw great potential of the chapel widening its doors to a larger community to the benefit of the congregation and trustees.

The Honorary Treasurer post was filled by one of the current trustees and working with our Honorary Treasurer (Investments), who had previous experience of this role, she was able to get up to speed very quickly. This late spring early summer period coincided with the receipt of a generous donation of £30,000 from the trustees of the Bank Street Chapel in Bolton, who were tasked with winding up its affairs following its closure. At the same time the trustees at the end of 2023 had instructed the Honorary Treasurer (Investments) to seek independent professional advice regarding the charity’s investment portfolio. The review in summary stated that over time our investments have skewed towards UK equities, thereby introducing more risk than we would want from a balanced portfolio and while our main investments continued to perform reasonably, there was room for improvement since some of our smaller investments have certainly underperformed over time. The advice recommended that we could reduce risk and potentially increase the charity’s return by transferring our investments into selected, more balanced funds and reviewing/changing these from time to time. The trustees agreed to this and over the summer and autumn transfers took place including the transfer of a portion of the recent donation.

At the same March AGM two other major issues were considered, the first being the state of the chapel’s organ, which according to an organ specialist would cost a significant figure to fully restore. While the current organ forms part of the internal character of the chapel, it was decided that this would be retained but complemented by a pre-used electronic organ, which could be purchased in the region of £3-4,000 with a 10-year guarantee. Such an organ was purchased for £3,000 and has been installed adjacent to the current one.

The second issue concerned the future development of the Garden of Remembrance (GoR) in which all the current Columbarium niches have either been sold and/or occupied. After considering a number of options, the trustees agreed to implementing plans for a 66 niche Columbarium wall at the north side of the GoR at an estimated cost in the region of £16,000 which would yield a projected income of about £99,000 when fully populated assuming that

5

a renewal period ideally of 15 years would be involved, which would ensure its very longterm use. The plans were subsequently passed Chorley Council, and the project was completed and almost within budget by the end of 2024.

As mentioned above, our new secretary was enthusiastic about using the chapel as a venue for a number of events, which would publicise the chapel as well as provide income from any profits made. The first of these, was a highly successful book signing and talk by Matt Jackson-Smith, who is one of the practicing animal veterinarians in the Yorkshire Vet TV series. The event on 16[th] December, attracted over 57 paying attendees, the majority of whom purchased a signed copy of his book entitled My Life as a Yorkshire Vet.

One last action for the year was the successful felling of a beech tree which had shed two branches earlier during summer 2023 which had damaged a horizontal gravestone and was now deemed to be dangerous. Half the costs of its felling in December were covered by a grant from the Manchester District Association for half the costs, for which the trustees are extremely grateful. Finally, and because of the changes in our management structure, the MDA advised the trustees to consider bringing forward the next Quinquennial Review into 2025 and in doing so this would be organised by the MDA and full costs borne by them and the Hibbert Trust. The trustees have agreed to this.

In conclusion, after what might have been seen as a very challenging year during the first half, the charity has been able to reconstruct its management team, complete major developments to its estate and also increase its financial robustness.

Richard Horrocks. Chairman of Trustees.

6

Rivington Chapel Trust: Treasurer’s Report 2024 .

INCOME

Bank Interest:

Donations and GiftAid:

This is to be split 50/50 with the congregation.

• A sizeable donation of £30,000 was received from Bank Street which has been

instrumental

in funding our new columbarium.

Investment Income:

• £115,000 was invested on the Aegon platform in 12 different investment funds. Sales:

• We received £997 in sales (mainly 2025 calendars and Christmas Cards) which was a very reasonable profit on the print costs of £400.

Rent:

• Niches payments and interments raised £150 during 2024. All niches have now been sold.

• We have made huge progress with the construction of the new columbarium and have the potential to earn £99,000 over the next 15 years on full capacity. That is: £1500 per niche on a 15 year lease, with 66 new niches. This also excludes an additional £280 for any

placement. Potentially, we have secured an earning of £99,000 every 15 years. Hire of Chapel

• Chris Martin helped to organise two Craft Fairs which were held in the tearoom and the Chapel. £90 was raised which was split equally with the Chapel congregation.

Yorkshire Vet promotion.

EXPENDITURE

Grounds:

7

grass cutting and leaf clearing with a further £3000 spent on the removal of a dangerous tree.

New Columbarium:

• Total costs for the new columbarium, including all materials and labour was £18,963. As outlined above, this will generate a potential income of £99,000 over the next 15 years if at full capacity.

Buildings:

Insurance:

Organ and PA System:

Trust Administration - costs not referred to elsewhere:

General Comments

  1. All figures quoted for expenditure items are Gross i.e. include VAT, where this is chargeable.

  2. Values for land and buildings are now shown in the accounts as Trust assets following a period from 1988 to 2016 when they did not appear, although these are estimated rebuild costs for insurance purposes and not market values.

S Walton Treasurer, Rivington Chapel Trust

8

RIVINGTON CHAPEL TRUST : BUILDINGS & GROUNDS REPORT 2024

Using the guidance and recommendations of the 2021 Quinquennial Inspection Report, the following works have been carried out along with other projects, as agreed with the Trustees.

25 March—A&G Roofing-Roof check, various pointing, clean gutters

29 April—Gear 4 Music -P.A. system purchased.

30 April—Chorley BC-Planning application and fee submitted for Columbarium construction. 20 May—Music Direct-Purchase of Viscount Jubileum 235 Organ

3 July—Planning granted for GoR columbarium.

20 July—B-Safe Security-Upgrade CCTV system, clean & reset cameras, test system.

13 Aug.--Fire Equipment Services Ltd.-Annual inspection & service.

11 Sept.--Mb Masonry Northwest Ltd.-deposit paid for Columbarium stone

16 Sept—P Kellie and Denver Builders-Start work on Columbarium

29 Oct.--A&G Roofing Ltd. Repair Chapel roof leak, clean gutters.

6 Dec—Adlington Electrical.-Hard wire test, PAT ,repair storage radiator.

19 Dec—P Kellie Builders-Masonry work finished on columbarium.

21Dec—Mb Masonry Northwest Ltd—balance of invoice for stone paid 21 Dec—Treescape North West Ltd—Removal of diseased Beech tree.

Through the year routine smoke alarm and fire extinguisher checks have been carried out. Further work will be required on and around the Columbarium, as weather permits, during 2025. This will involve the construction of niche covers to exclude debris, snow ,and ice. These covers will be numbered to facilitate purchase, also, some shrub repositioning will be required to allow easy access.

PAUL FAIRCLOUGH…….DECEMBER 2024

9

The Trustees of Rivington Chapel

Income & Expenditure Account for the year ended 31 December 2024

2023
2023
Notes
£
£		 2023
2023
Notes
£
£		 2023
2023
Notes
£
£		 2024
2024
£
£		 2024
2024
£
£
Income
School Room Rent
2
7,643
Niche payments and Interments
2,700
Income M&G Charifund
1
3,116
Income M&G Charibond
1
413
Income Quilter Cheviot
1
1137
Grants & Donations
126
Sale of Publications & Calendars
3
1,032
Interest received
268
Fund raising events
92
VAT Refund
138
16,665		 8,548
150
2,132
372
885
30,394
997
861
330
-
44,669
Expenditure
Grounds Maintenance
4
5,607
New columbarium
-
Insurance
6
1,697
Repairs & Maintenance
4
1,060
Organ
204
PA system
Administration
91
Quilter annual fee
135
Bank charges
60
Printing of Publications & Calendars
456
Sundries
-
9,310		 3,730
18,963
1,913
839
3,000
229
1,476
-
60
400
422
31,032
91
135
60
456
-
9,310

9,310
Excess of Income to Expenditure (Expenditure to Income) 7,355 13,637
Revaluation of investments during year - Increase/(Decrease) (5,885) 2,977
Increase/(decrease) in reserves in the year 1,470 16,614
Statement of Financial Position at 31 December 2024
2023
2023
£
£		 2024
2024
£
£
Assets
Investments
1
92,047
CAF Bank Gold Deposit Account
21,747
CAF Bank Current Account
918
Insurance prepaid
2,644
Quilter Cheviot dividends outstanding
144		 114,484
15,170
2,087
2,805
-
117,500 134,546
Liabilities
Creditors - Congregational committee (10) (442)
Net Assets (excluding property)
7		 117,490 134,104

Notes to the accounts

In 2024 the investments in Quilter (28 August) and M&G (8 Nov) were closed realising £95,483. On the same day £115,000 was invested on the Aegon platform in 12 different investment funds.

Value at
Value at
Income
1/1/24
Acquisition
Or Disposal
0.0%
-
115,000
4.1%
52,289
56,015
3.2%
11,555
11,463
3.1%
28,146
28,005
3.7%
91,990
95,483		 Value at
Value
31/12/24
change
Aegon
M&G Charifund
M&G Charibond
Quilter Cheviot
Average		 114,484
(0.4%)
-
7.1%
-
(0.8%)
-
(0.5%)
114,484
3.8%
2 School Room Rent
The rent was increased by £14.15 ( 2 percent) per month in September.
3 Sale of Publications
Included are sales of calendars, Christmas cards and booklets.
4 Repairs & Maintenance and Grounds Maintenance
This year the major expenditures were :- Tree Felling £3,000
Gutters & Roof £660
5 Organ
A second hand organ was purchased because the existing organ had become unrepairable.
6 Insurance
The share payable by the tea room has been deducted.
7 Land & Buildings
In the past the value of the land and buildings have been ignored and records of historic costs are not complete
and/or not available. The Trustees write of the expenses of repairs and improvements against that year’s income.
No formal valuation of the land and buildings has taken place. However a rebuild cost, ascertained for insurance
purposes in 2017, is £2,135,491.

I have examined the Income and Expenditure Account for the year ended 31 December 2024 and the Statement of Financial Position at that date and have found them to be in accordance with the books, vouchers, investment and bank statements presented to me for audit.

19 February 2025