**Charity Registration No. 242840**
## **THE STONE PAROCHIAL CHARITY**
## **ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 DECEMBER 2020**
## **THE STONE PAROCHIAL CHARITY**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
## **Trustees**
Ex officio: M H Gough C Emeny Reverend R Legge
Churchwarden of the said Parish Chairman and Churchwarden of the said Parish Vicar of the said Parish
Nominated: S Laffey
Co-optative: G G Hyde Reverend J A Cox M Stinton F Lawson-Hughes G Higgs
## **Clerk to the Trustees**
## **Investment Managers**
S Garrington CCLA Investment Management Limited Price Pearson Senator House Chartered Accountants 85 Queen Victoria Street Finch House London 28-30 Wolverhampton Street EC4V 4ET Dudley DY1 1DB
## **Solicitors**
mfg Solicitors Adam House Birmingham Road Kidderminster Worcestershire DY10 2SH
## **Property Advisers**
Halls Welsh Bridge Shrewsbury SY3 8LA
## **Principal Office**
6 Church Street Kidderminster Worcestershire DY10 2AD
## **Bankers**
HSBC Bank Plc 31 Church Street Kidderminster Worcestershire DY10 2AY
## **THE STONE PAROCHIAL CHARITY**
## **CONTENTS**
||**Page**|
|---|---|
|Trustees' report|1 - 5|
|Independent examiner's report|6|
|Statement of financial activities|7|
|Balance sheet|8|
|Notes to the accounts|9 - 18|
## **THE STONE PAROCHIAL CHARITY**
## **TRUSTEES' REPORT** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_
The Trustees present their report and accounts for the year ended 31 December 2020.
The legal and administrative information forms part of this report.
The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's trust deed , the Charities Act 2011 and “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) " (as amended for accounting periods commencing from 1 January 2016).
- 1 -
## **THE STONE PAROCHIAL CHARITY**
## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_
## **Objectives and activities**
The application of the Charity’s income is governed by sections 26 – 33 of the Scheme updated and sealed 18th June 1986 viz:
S.26 Expenses of management. The Trustees shall first defray out of the income of the Charity the cost of repairs and insurance and all other charges and outgoings payable in respect of the property of the Charity and all the proper costs, charges and expenses of and incidental to the administration and management of the Charity.
S.27 Educational payment. The Trustees shall pay out of the income of the Charity an annual sum of £85 to the Charity called the Stone Educational Foundation and on its demise to the Diocese Department for Education.
S.28 Application of income . Subject to payment of the expenses and annual sum aforesaid the Trustees shall apply the income of the Charity in the manner following:
(1) in paying to the said Stone Educational Foundation and on its demise to the Diocese Department for Education two-fifths thereof;
(2) in paying to the Parochial Church Council of the above-mentioned ecclesiastical parish of the Blessed Virgin Mary, Stone, one-fifth thereof to be applied in or towards the upkeep and repair of the Parish Church of the said ecclesiastical parish and the maintenance of the services therein; and
(3) as to the remaining two-fifths thereof for relief in need in accordance with the provisions hereinafter contained.
S.29 Relief in need
(1) The Trustees shall apply income for relief in need in relieving either generally or individually persons resident in the area of benefit who are in conditions of need, hardship or distress by making grants of money or providing or paying for items, services or facilities calculated to reduce the need, hardship or distress of such persons.
(2) The Trustees may pay for such items, services or facilities by way of donations or subscriptions to institutions or organisations which provide or which undertake in return to provide such items, services or facilities for such persons.
(3) In exceptional cases the Trustees may grant relief to persons otherwise eligible therefore who are resident immediately outside the area of benefit, but in the opinion of the Trustees ought nevertheless for sufficient reason to be treated as if resident therein or who are located for the time being within the area of benefit.
S.30 Restrictions. In applying income of the Charity for relief in need the Trustees shall observe the following restrictions :
(1) They shall not apply any part of the income directly in relief of rates, taxes or other public funds, but may apply income in supplementing relief or assistance provided out of public funds.
(2) They shall not commit themselves to repeat or renew the relief granted on any occasion in any case.
In setting the objectives, reviewing the grant making policy and in planning future activities the Trustees have given careful consideration to the duty in Section 17(5) of the Charities Act 2011 to have due regard to the Charity Commission's general guidance on public benefit.
- 2 -
## **THE STONE PAROCHIAL CHARITY**
## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_
## **Achievements and performance**
The charity has paid grants this year to both the Educational, Church and Eleemosynary funds.
There have been no major changes to the aims of the organisation during the year however there are concerns regarding use of the Eleemosynary grant that this can be used more efficiently within the Parish of Stone.
The Trustees have spent £1,805 from the Eleemosynary Fund during the current year and are constantly
seeking effective utilisation of these funds.
Due to the Coronavirus Pandemic, the income from letting the Parish room has been virtually eliminated however there is hope this will return to normal levels soon and there has been a number of enquires about future use.
## **Financial review**
The total incoming resources and resources expended for the year are shown in the Statement of Financial Activities on page 7. The total incoming resources amounted to £28,747 (2019: £19,700 ) and further details can be found in notes 2 and 3.
The total resources expended amounted to £23,711 (2019: £20,182) and further details can be found in notes 4 to 6.
Details of investments with CCLA are shown in note 13. The value of investments at 31 December 2020 amounted to £381,957 compared to a figure of £350,889 at 31 December 2019.
The resulting unrealised profit on investments of £31,068 (2019: £51,626 profit) has been credited to Capital Endowment funds. In view of the current economic climate the trustees are satisfied with the performance of the Charity's investments.
Details of investment properties are shown in note 12. The value of investment properties at 31 December 20 20 amounted to £520,210 (2019: £520,210).
## **Reserves policy**
It is the policy of the trustees that if there are balances on the educational and church funds at the year end which have not been designated for a specific use then these balances should be paid out to the beneficiaries following the March meeting. The balance on the Eleemosynary fund will be used to meet the objectives specified in S29 and S30 of the Scheme when suitable beneficiaries are identified.
## **Investment policy**
The trustees’ investment policy is to maintain capital growth and income and to invest at low to medium risk. The investments are managed by an investment company.
## **Risk factors**
The trustees have assessed the major risks to which the charity is exposed and are satisfied that systems are in place to mitigate exposure to the major risks.
## **Plans for the future**
The trustees do not foresee any major changes with regard to the charity’s level of income and expenditure. The charity does, however, hold assets that may have development potential in the future.
- 3 -
## **THE STONE PAROCHIAL CHARITY**
## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_
## **Structure, governance and management**
The Stone Parochial Charity (inclusive of the Charities known as the Church Charity and the Eleemosynary Charity, but exclusive of the Stone Educational Foundation constituted by an Order made by the Charity Commissioners on 20th February 1906 under the Board of Education Act 1899 s.2[2]) which Charity is comprised in a Scheme set forth in the first Schedule to an Order made by the Commissioners on 4th August 1882, an order made by the Commissioners on 15th January 1897 under the Local Government Act 1894 s.75 (2) and Schemes of the Commissioners of 14th July 1922 and 26th June 1973 ;
The Charity of William Wheeler, comprised in a Scheme of the Commissioners of 23rd January 1883, as affected by a Scheme of the Commissioners of 24th August 1915 ;
and both regulated by a revised Scheme of the Commissioners sealed on 18th June 1986 as amended by a Scheme on 20 December 2006.
The Charity’s registered charity number is 242840.
The board of trustees should consist of the following:
Three Ex-officio Trustees One nominative Trustee and Five co-optative Trustees
The ex-officio trustees shall be the Vicar and churchwardens of the said parish.
The nominative trustee must be appointed by the Stone Parish Council.
Co-optative trustees shall be persons who through residence, occupation or employment, or otherwise have special knowledge of the area of benefit.
All new trustees are provided with the following:
- History and background information
- A copy of the constitution
- A copy of the previous year’s accounts and report.
The Trustees who served during the year and up to the date of signature of the financial statements were: C Emeny
M H Gough Reverend R Legge G G Hyde Reverend J A Cox S Laffey M Stinton F Lawson-Hughes G Higgs
- 4 -
## **THE STONE PAROCHIAL CHARITY**
## **TRUSTEES' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_
## **Organisation**
S.31 Ap propriation of benefits. The appropriation of the benefits of the Charity shall be made by the Trustees at meetings of their body and not separately by any individual Trustee or Trustees: Provided that the Trustees from time to time may appoint two or more members of their body to be a committee for relieving emergency cases of need, but all acts and proceedings of committees shall be reported in due course to the Trustees.
S.32 Trustees not to be personally interested. No Trustee shall take or hold any interest in property belonging to the Charity otherwise than as a Trustee for the purposes thereof and no Trustee shall receive remuneration, or be interested in the supply of work or goods, at the cost of the Charity.
S.33 Questions under Scheme. Any question as to the construction of this Scheme or as to regularity or the validity of any acts done or about to be done under this scheme shall be determined by the Commissioners upon such application made to them for the purpose as they think sufficient.
## **Asset cover for funds**
Note 16 sets out an analysis of the assets attributable to the various funds. These assets are sufficient to meet the charity’s obligations on a fund by fund basis.
The Trustees' r eport was approved by the Board of Trustees.
## **C Emeny**
Trustee Dated: 20 September 2021
- 5 -
## **THE STONE PAROCHIAL CHARITY**
## **INDEPENDENT EXAMINER'S REPORT**
## **TO THE TRUSTEES OF THE STONE PAROCHIAL CHARITY**
I report to the Trustees on my examination of the financial statements of The Stone Parochial Charity (the charity) for the year ended 31 December 2020.
## **Responsibilities and basis of report**
As the Trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act).
I report in respect of my examination of the charity’s financial statements carried out under section 145 of the 2011 Act . In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent examiner's statement**
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
- 1 accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or
- 2 the financial statements do not accord with those records; or
- 3 the financial statements do not comply with the applicable requirements concerning the form and content of 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 financial statements to be reached.
Chris Cooper (F.C.A., F.C.C.A, BA (Hons)) Price Pearson
Finch House 28-30 Wolverhampton Street Dudley West Midlands DY1 1DB
Dated: 23 September 2021
- 6 -
## **THE STONE PAROCHIAL CHARITY**
## **STATEMENT OF FINANCIAL ACTIVITIES** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_
|**Unrestricted Endowment**
**funds**
**funds**
**2020**
**2020**
**Notes**
**£**
**£**
**Income and endowments from:**
Investments
**2**
18,701
-
Other income
**3**
10,046
-
**Total income**
28,747
-
**Expenditure on:**
Raising funds
**4**
66
-
Charitable activities
**5**
20,035
3,610
**Total resources expended**
20,101
3,610
Net gains/(losses) on investments
**9**
-
31,068
**Net movement in funds**
8,646
27,458
Fund balances at 1 January 2020
23,140
862,436
**Fund balances at 31 December 2020**
31,786
889,894|**Total**
**2020**
**£**
18,701
10,046
28,747
66
23,645
23,711
31,068
36,104
885,576
921,680|Total
2019
**£**
19,654
46
19,700
66
20,116
20,182
51,626
51,144
834,432
885,576|
|---|---|---|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
- 7 -
## **THE STONE PAROCHIAL CHARITY**
## **BALANCE SHEET**
## _**AS AT 31 DECEMBER 2020**_
|**Notes**
**Fixed assets**
Tangible assets
**11**
Investment properties
**12**
Investments
**13**
**Current assets**
Debtors
**14**
Cash at bank and in hand
**Creditors: amounts falling due within**
**one year**
Taxation and social security
Other creditors
**15**
Net current assets
**Total assets less current liabilities**
**Capital funds**
Endowment funds - general
**17**
**Income funds**
Unrestricted funds
**18**|**2020**
**£**
3,323
22,041
25,364
1,900
4,673
6,573|**£**
722
520,210
381,957
902,889
18,791
921,680
889,894
31,786
921,680|**2019**
**£**
3,554
11,192
14,746
-
1,600
1,600|**£**
1,331
520,210
350,889
872,430
13,146
885,576
862,436
23,140
885,576|
|---|---|---|---|---|
The accounts were approved by the Trustees on 20 September 2021
C Emeny M H Gough **Trustee Trustee**
- 8 -
**THE STONE PAROCHIAL CHARITY**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_
## **1 Accounting policies**
## **Charity information**
The Stone Parochial Charity is a an unincorporated charity governed by a scheme dated 4th August 1882.
## **1.1 Accounting convention**
The accounts have been prepared in accordance with the charity's governing document, the Charities Act 2011 and “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)” (as amended for accounting periods commencing from 1 January 2016). The charity is a Public Benefit Entity as defined by FRS 102.
The charitable trust has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The accounts 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 Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The financial statements are prepared in sterling , which is the functional currency of the charity. Monetary a mounts in these financial statements are rounded to the nearest £.
The accounts have been prepared under the historical cost convention, modified to include the revaluation of fixed assets at fair value. The principal accounting policies adopted are set out below.
## **1.2 Going concern**
At the time of approving the financial statements, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
## **1.3 Charitable funds**
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives unless the funds have been designated for other purposes.
Endowment funds represent those assets which must be held permanently by the charity, principally investments. Income arising on the endowment funds can be used in accordance with the charity's objects and is included as unrestricted income. Any capital gains or losses arising on the investments form part of the fund.
## **1.4 Incoming resources**
All income is recognised once the charity has entitlement to the income, there is sufficient certainty or receipt and so it is probable that the income will be received, and the amount of income receivable can be measured reliably.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity. Income from endowment funds is treated as unrestricted income.
Income on quoted investments is credited to the accounts at the time the income is due and recorded net of management fees in accordance with the normal practice of investment managers.
Interest, rent and other income is accounted for on a receivable basis.
- 9 -
## **THE STONE PAROCHIAL CHARITY**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_
## **1 Accounting policies**
**(Continued)**
## **1.5 Resources expended**
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, 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 and includes irrecoverable VAT.
Expenditure for charitable activities includes grants payable that are charged against income in the year of payment.
Governance costs comprise costs involved in the public accountability of the charity and its compliance with regulation and good practice and have been apportioned based on the time spent by the clerk.
## **1.6 Tangible fixed assets**
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures, fittings & equipment
20% p.a. reducing balance method & 20% p.a. straight line basis
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.
The trustees have adopted a policy whereby fixed assets costing less than £100 are not capitalised.
## **1.7 Investment properties**
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit or loss.
## **1.8 Fixed asset investments**
Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value based on mid market prices at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year . Transaction costs are expensed as incurred.
All gains and losses are taken to the Statement of Financial Activities as they arise. Realised gains and losses on investments are calculated as the difference between sales proceeds and their carrying value. Unrealised gains and losses are calculated as the difference between the fair value at the year end and their carrying value. Realised and unrealised investment gains and losses are combined in the Statement of Financial Activities.
All gains and losses are taken to the Statement of Financial Activities as they arise. Realised gains and losses on investments are calculated as the difference between sales proceeds and their carrying value. Unrealised gains and losses are calculated as the difference between the fair value at the year end and their carrying value. Realised and unrealised investment gains and losses are combined in the Statement of Financial Activities.
- 10 -
## **THE STONE PAROCHIAL CHARITY**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_
## **1 Accounting policies**
## **(Continued)**
## **1.9 Impairment of fixed assets**
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any ) .
## **1.10 Government Grants**
Government grants are recognised at the fair value of the asset receive d or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met . Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable . A grant received before the recognition criteria are satisfied is recognised as a liability.
## **2 Investments**
|Rental income
Income shares
Charities Fixed interest income shares
Charities ethical income shares
Charities global income shares
Interest receivable
**Other income**
Wayleave income
Covid-19 Business support grant|**2020**
**£**
7,634
5,770
1,225
1,590
2,471
11
18,701
**2020**
**£**
46
10,000
10,046|**2019**
**£**
8,774
5,619
1,225
1,571
2,449
16
19,654
**2019**
**£**
46
-
46|
|---|---|---|
## **3 Other income**
- 11 -
## **THE STONE PAROCHIAL CHARITY**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_
## **4 Raising funds**
|Commission on rental income
**5**
**Charitable activities**
Support Costs:-
Clerk fees
Depreciation and impairment
Stone School House and Parish Room costs:
Repairs and Renewals
Professional fees capitalised
Electricity and Gas
Insurance
Water
Governance costs
Corporation Tax
Grant funding of activities (see note 6)
Goverance costs comprise clerks fees allocated on a time basis.
**6**
**Grants payable**
Grants to institutions (4 grants):
Church
Educational
Eleemosynary
Number of Grants paid in the period||
|---|---|
|||
- 12 -
**THE STONE PAROCHIAL CHARITY**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_
## **7 Trustees**
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the period.
## **8 Employees**
There were no employees during the year.
## **9 Net gains/(losses) on investments**
||**2020**|**2019**|
|---|---|---|
||**£**|**£**|
|Revaluation of investments|31,068|51,626|
## **10 Taxation**
The charity received a small business grant in the year. This is deemed to be taxable income, therefore provision for taxation has been included in the accounts.
## **11 Tangible fixed assets**
|**Tangible fixed assets**||
|---|---|
||**Fixtures, fittings & equipment**|
||**£**|
|**Cost**||
|At 1 January 2020|4,231|
|At 31 December 2020|4,231|
|**Depreciation and impairment**||
|At 1 January 2020|2,900|
|Depreciation charged in the year|609|
|At 31 December 2020|3,509|
|**Carrying amount**||
|At 31 December 2020|722|
|At 31 December 2019|1,331|
- 13 -
## **THE STONE PAROCHIAL CHARITY**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 DECEMBER 2020**_
|**12**|**Investment Properties.**
**Market value**
**Market value**
**Real Estate vested in the Official**
**Total Area**
**Tenant**
**Term**
**2020**
**2019**
**Custodian of Charitable Funds**
**(in acres)**
**£**
**£**
Descriptions:
Several pieces of land in Stone Parish:
852' frontage on the North to the main
A449 Road leading from Kidderminster
to Worcester
O.S. No. 218
6.386 )
R. Blakeway
*annual basis
95,850
95,850
)
)
483' frontage on the South to
)
Stanklyn Lane
)
)
O.S. No. 221
8.276 )
99,360
99,360
Land and School House )
02.06
C. J. Meade
Short
)
Term
285,000
285,000
)
Lease
Parish Room adjoining
40,000
40,000
520,210
520,210|**Income**
**2020**
**£**
734
6,600
300
7,634|**Income**
**2019**
**£**
734
6,600
1,440
8,774|
|---|---|---|---|
- 14 -
## **THE STONE PAROCHIAL CHARITY**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 DECEMBER 2020**_
## **12 Investment Properties.**
**(Continued)**
## *Farm business tenancy
The land was valued at 29 June 2017 by Halls, Chartered Surveyors on the basis of freehold valuation with vacant possession at £195,210. The School House was valued at £285,000 on 29 June 2017 by Halls, Chartered Surveyors on the basis of freehold valuation subject to the assured shorthold tenancy.
On 8 December 2017 the adjoining Parish room was valued at £40,000.
These valuations have been included in the accounts and are still deemed reasonable by the trustees.
The historical cost of these assets cannot be easily identified.
- 15 -
## **THE STONE PAROCHIAL CHARITY**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 DECEMBER 2020**_
## **13 Fixed asset investments (quoted)**
||**Nominal**|**Book value**|**Market value**|**Revaluation**|**Nominal**|**Book value**|**Market value**|
|---|---|---|---|---|---|---|---|
|||||**adjustment**||||
||**31.12.19**|**31.12.19**|**31.12.19**|**31.12.20**|**31.12.20**|**31.12.20**|**31.12.20**|
|Charities Official Investment Fund:||||||||
|Income shares|10,947|118,708|185,322|11,852|10,947|118,708|197,174|
|Charities fixed interest income shares|27,600|39,432|37,963|1,278|27,600|39,432|39,241|
|Charities ethical investment income||||||||
|shares|19,367|41,795|50,258|3,161|19,367|41,795|53,419|
|Charities global investment income||||||||
|shares|37,326|62,692|77,346|14,777|37,326|62,692|92,123|
|||262,627|350,889|31,068||262,627|381,957|
- 16 -
## **THE STONE PAROCHIAL CHARITY**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_
|**14**
**Debtors**
**2020**
**Amounts falling due within one year:**
**£**
Trade debtors
550
Other debtors
2,773
3,323
**15**
**Other creditors falling due within one year**
**2020**
**£**
Accruals and deferred income
4,673
Corporation tax of £1,900 is also due for payment within one year.
**16**
**Analysis of net assets between funds**
**Endowment**
**funds**
**Income funds**
**£**
**£**
Fund balances at 31 December 2020 are represented by:
Tangible assets
722
-
Investment properties
520,210
-
Investments
381,957
-
Current assets/(liabilities)
(12,995)
31,786
889,894
31,786
**17**
**Endowment funds**
**2/5**
**1/5**
**2/5**
**Educational**
**Church**
**Eleemosynary**
**£**
**£**
**£**
Balances at 1 January 2020
344,983
172,496
344,957
Revaluation of quoted investments
12,427
6,214
12,427
Professional fees capitalised
(1,444)
(722)
(1,444)
Balances at 31 December 2020
355,966
177,988
355,940|**2019**
**£**
874
2,680
3,554
**2019**
**£**
1,600
**Total**
**£**
722
520,210
381,957
18,791
921,680
**Total**
**£**
862,436
31,068
(3,610)
889,894|
|---|---|
- 17 -
## **THE STONE PAROCHIAL CHARITY**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2020**_
|**18**
**Income Funds**
Incoming resources
Less:
Investment management costs
Support costs
Governance costs
Fixed grant
Depreciation
Corporation tax provision
Net profit/(loss) for the year
divided as to:
Educational
2/5
Church
1/5
Eleemosynary 2/5
Balances at 1 January 2020
Fixed grant
Share of profit
Grants paid
Balances at 31 December 2020|**2020**
**£**
**£**
**£**
**28,747**
**66**
66
**7,188**
6,773
**1,538**
638
**85**
85
**609**
621
**1,900**
-
**11,386**
**17,361**
**6,944**
**3,473**
**6,944**
**17,361**
**Educational**
**Church Eleemosynary**
**£**
**£**
**£**
4,692
2,303
16,145
85
-
-
6,944
3,473
6,944
(4,692)
(2,303)
(1,805)
7,029
3,473
21,284|2019
**£**
19,700
8,183
11,517
4,607
2,302
4,607
11,517
|**Total**
**£**
23,140
85
17,361
(8,800)
31,786|
|---|---|---|---|
## **20 Related party transactions**
There were no disclosable related party transactions during the year (2019 - none).
## **19 Control**
The charity is controlled by the trustees.
- 18 -