Charity Registered No: 244047 Saint Andrew's Church Estate including the Charity of Sir William Blackett the Younger Report and Flnanclal Statements Year ended 31 December 2024
Saint Andrew's Church Estate including the Charity of Sir William Blackett the Younger Legal and Administrative Irrformalion Constitution The Saint Andrew's Church Estat¢ including the Charity of Sir William Blackett the Younger is a charitable trwst governed by its Twst tke(L It is a registered charity no 244047. Trustees The Twstees who served during the year were.. Revd Michael Hills Mrs Rosemary Hall Mrs Barbara Porter Offices St Andrew's Chuffh Newgate Street N¢wa8tle upon Tyne NEI SSS Bankors Lloyds 102 Grey Stsret Newcastle un Tyne NE99 ISL Investment Advlsors Brewin Dolphin Time C¢ntral Gallowgate Newcastle upon Tyne NEI 4SR Sollcitors Nicholson and Morga 14 Belle Villas City C¢ntre Pottland Newcagtle upon Time NE20 9BE
Saint Andrew's Church Estate Including the Charity of Sir William Blackett the Younger Trustees, Report for the year ended 31 December 2024 Trust The TrusÈ w&8 established by a Trust Deed dated 7 April 1702 and w&8 Tegistered with the Charities CoTnmissEon on 21 April 1967. Charltable Objects of the Trust The Tntst's clwitable objectiveg are: The upkeep and mainten8J]¢e of St Andrews Church. b) The nwinienan¢¢ of seTVtces in the Chureh, and subsidiary thereto, The advaneemeni of the religious and other charitable work of the Church of England in the E¢clesi&stical Parksh of the Church of St. Andrew. Newgate StreeL Newcastle upon Tyne. The Charity aims to satisfy its objects and demonstrates its public benefit through the alx)ve three main areas of charitsble activity. When considering its pn)po%¢d plans of activity and preparing this report, the Trnstees have considered the Charity Commission's guida1¢ on public benefit. Structure, Governance and Managemènt Due to another Charity (Charity No. 1144759) with close links to the post of Vicar of SL Andrew's having been dissolved during the course of the yvdr, the pisition of the Vicar being Chairnian of the SL Andrew, Trnst and reeeiving reMuneratiOellefit(ing from the Tn1 was of necessity reviewed. The remaining two TnleeS wrote to the Chariry Commission in July 2024 stating the circum8tan¢es and e1Ved a reply on 25th Septemberby &lltI. In line with the advice given at that time orrangements were put in hand for professional advice. which is ongoing at tbe time of wriiing of this Report. The matter Closely involves th¢ Diocese of Newcastle alld several meetings have been held with senior members of that ix)dy. (l) Meetings of all three TTUStees took place in March and May, and two of the three Trusiees with the Bishop of Benvick (one of the Di(KYsan Bishops) in Sept¢rnb¢r. The Chairnian of th¢ St. Andrew's Tnt was not preseni at the latter meeting and has not been present at subg¢quent meetings in 2025. (2) Th¢ TTUStees have delegated the day-ioday rnanagement of the rental of the Tnjst's properties io George F While in¢oTrorating Johnson Tu¢ker LLP. (3) The Trustees have delegated the day-ioday management of the Tnjsi's investments to Brewin Dolphin. (4) Trustees a appointed by the existing Twstxs pursuant to the provisions of the Trust Deed. New Trustees are found from the Contacts and personal knowledg¢ of ¢xisting Trustecs. The aim of the Trnstees in making appointments is to have a Tange of skklls qualificats'ons and experience suited to aehievin8 the objects of the Tjvsi &$ set out in the Trust Deed. (5) On appointtnenl Trustees are provided with a wpy of th¢ Trust Deed, the most recent falL¢la1 statements and investsnent reports and minute$ of Tru5t¢es m¢etings. The experience of the pers(>ns appointed usually means that th¢y have a good understallding of the responsibilities of a charity trustee, but where necessary guidan¢¢ is available from the Trust's solicitors. RelevaDt Charity Commi&8ion publications are also available to tbe TnJst¢es. AII TTUSt business pertaining to the Chureh Estate and our tnvestmeni Portfolio was eonducted either at face to face rneetings or other appropriate means of communicalion and the Trustees were in regular ¢onlact with one another.
Saint Andrew's Church Estate including the Charity of Sir William Blackett the Younger Trustees, Report for the year ended 31 Decembér 2024 Risk Management In view of the circumstances stated in tbe r]rst pardgraph of this Report the tnatter of a continued use of Trnst ndS for thi8 has been much diseus5ed and particularly so with the Diocese which sei up the post of the present ineumbent of the parish as two half Stipend p)sts'. Vicar & City Centre Chapjain (the latter post is stated as Ecumenical wl)ich has. on the whole, not been successful long terni as regards financial ¢onthTrJuttons from the other denominations Originally taking pan). The total allLount of remuneration paid from the St. Andrew's Trust since a first emergeneypayrnent to balance the Chaplain¢y Account now amounts to £128,549.35. There is also the diffi11 situalion that as a cotjsequence of the Chairman rtteiving revenue from the TFUSt he 18 precluded from any d¢¢ision-making. The Trustees are wgnizant that thE pres¢n¢ un¢ertainty with regard to world affairs aife¢ting the fu)ancial markets is likely to continue, and SOTne caution WAII be required. Rèv58w of Actlvities and Perfomwnce Treasurer.. Mrs Michelle Small continued ts) be Trea8urer and Secretary to the Trust and has perfornied these duties in all ¢x¢mplary manner. As she w&$ also partly employed by the forni¢r City Centre Chaplaincy, sh¢ ¢le¢ted to reduce her weekly hours of WO from five to three days and now works solely on SL Andrew's Church business. Gary Robinson. from the fum George F. White incorporating Johnson Tucker is invaluable in looking after all aspects of our prop*ties alld call be relied upon to liaise well with tenants on ow behalf and inspect IKYth prop¢rti¢s regularly and effi¢iently and to report to us accordingly on a regular basis. Anna Mccreadyy frojn the Investment fm CFA BrewiD Dolphin has been an excellent %our¢e of knowledge and advice during what has been a more than w8ually utLpredictable period in national and international affaits infiuencing the financial matk¢t. Michael Atkinson, our Church ArchitecL is particularly well acquainted with thc chur¢h and its fabric and can usually be counted on to tend and take appropriate action As necessary and when occasi¢)no1 emergencies ariso. Liabtlity Insurance for Tn]stees'. This has contlnued to protect Trustee& Strdtegy regarding our rental pToperties'. One of our ground floor outlets in Percy St. forni¢rly l¢a%d to Subway was le&sed to another f£)d outlet.. Per¢y Food Ltd. the addition of a separate p4Tking Spa lease. This is in an ¢xc¢ll¢nt location for the putpose. The roof of Percy St. buildll)g was also repaired following an inspecuon. The Trustees are aware that the presently empty third floor in the Peny St. bujlding, if Testored and le&$ed, could be a possible future source of income, but th¢ ¢apital cost involved does not merit ¥4ction on this at present, other than clearance of accLullulated wbbish which has been put in han(L Gary continues to inspect Brddburn House, and to report as nec¢ssary on ¢onlact with th¢ tenant and any work required. iv.
Saint Andrew's Church Estate including the Charity of Sir William Blackett the Younger Trustees, Report for the year ended 31 Déc•mbér 2024 Financial reviow The TNstees were gratful for the firtanciai investment advice received from Anna Mccready, Brewin Dolphin. The income forthe Tr4tdurItig theyearamounted to £205,410 atsd expendtture totalled £227,503. The market value of listed investmentg increased to £667,564. Over the course of the year the Par(hla1 Church Council (PCC) requested the Tnt to bear the cost of the following: Two new Notice Boards for churchyard entrances. A contribution towards the cosi of the restoration of an 18th C. large chest tomb in ihe churehyard (the Glynn Tomb) as a minor emergelley shorrfall occurred. The major cost was paid for by th¢ descendent family. The restoration hag much impmved the appearanee of th¢ ehuT¢hy¥rd. All footpaths in the churehyard jet-wash¢d. (Healtb & Safety) Essential Gutter Clearance work. A new Sound and Music System for the Church. with iPad link to enhance perfornmice and record]ngs. ccrv system upgr&led and EmetEency Lighting restored to 11 strength. Inv•stm•nt pollcy and rf0MlanC• At th¢ Trust M¢eliDg iu March w¢ w¢r¢ advised thal our Ponfolio Value was £630,6(A, which is up 3.5Y $inc¢ Mah 2023. In¢om¢ of £17,729 which is re-invested. Aft¢r discus¥i¢m of the options the TNstees agtred to remain at Risk Category 5- which is diversified risk. With the majority of the chUh,$ investments in property, the BBC Brewin Dolphin portfolio provides important liquidity which con be dra) upon at any time. The natural income produced by the investments is relained, thereby helping to m&ximise long tern) groHrth. but this could be released at any time should the fid$ b¢ required to Ver the church's ongoing costs. Fron) the infomiation we provided Anna Mccready Concluded that no changes are required at presenL Rgsorvos policy Rese¢$ which represent the balance of unregtricd funds whi¢b as at 31 December2024 wag £3509.191. It is the poiicy of the Tntstees to retain sufficient reserves, subj¢ct to fluctuion in the value of tbe investments to ensure that in the event of # si8nifi¢ant r¢du¢tioll Rn illeoffte th¢ Trust¢e5 Could at last maintain the regular expenditure. The Tntsttts have taken into aoUnt the eutrent level of yield o investments, mthet volatility and the econojtiic outlook. Future Plans and conclusion Priest's Porch The sandstone from which this small poreh {P059Lbly a pre-Reformation chantry chapel thought to be frorn the 14thC) is built from has, over the Centuries, become extremely porous and water ingress from the roof slabs soaking into the walls has been a probletn for many year5 aTLd despite a nUbe[ of schemes to alleviate this the whole area is pennanently damp and virts]Iy unusable as a side chapel which in 2012 it was fitted out as. Together with the churcb architect it is intended to continue with our application to th¢ Dioc¢saD authorities and work with Historic England to have the roof made watertight but still visually in keeping with the architecture of the E>eriod. In the past opinions from the various bodies concerned have varied. The Trustees Thrysh to eaTmark a restoration scheme as a priority and some of our invest fvnds targeted accordingly. This h&s been intimated to our investment advisors.
Saint Andrew's Church Estate including the Charity of Sir William Blackett the Younger Trustees, Report for the year ended 31 December 2024 Quitiquennial arehitectsral ill5pettioD This is due in 2025. For a building of its age. 12thC, and having been ws well uwintained as possible, we believe it to be in a ¥QUDd and safe Conditio but are not complacent and need to ensure that any pOlb]Y large sums requir¢d will be available. Musle *nd Llturgy Our liaisonlpartDership with Newcastle University Music tkpartment h&s ¢ontinu¢d to flourish and our student choir gone from strength to strength, despite th¢ inevitable change-over &$ members follow their stydy pathy, som¢ graduating this year and new s¢holars joining. The Organ Scholarship h&8 ¢ontinued and is a great as¥el. We are fortunate that the original choirmasterl¢ondu¢tor has remained which has ensured valuabl¢ colltinuity. Th¢ Dew Sound and Music systwn install¢d this year h&5 ¢thl¢d ex¢¢ll¢nce in r¢cordiDg. Tog¢tber with ug¢ of all Book of Common Prayer liturgy, which we &¥pire to, it is hoped that St. Andrew'¥ ll be¢oJn¢ a flagship thurch for traditional but lively worship inthecity, now ¢onipl¢m¢nted and¢nhanc¢d by tirn¢-honour¢d ohornl works T¢Dd¢red by ow musicians ind¢¢d w&5 the case in the p&st. C•nservatlon Despite fIanCIal reservations on the part of the City Council. which holds a "NT]nitJg faculty" as regards responsibility for the upkeep of the churchyard as a green space in the city. we have continued th work uqefully with our Ward Councillor on the plan to re-wild the churchyard, &$ far as possible. whilst tying to relain its dignity and being vigilant Thith regard to wssible infringement onto the fabric of the buildings and health and safety matters. We have main¢ained conts¢t with Newc&sile University Ecology Department. Concluslon The Trnstets are always mindful and do not take forgranted, the boulltiful inherita1 generously 8&fted to St. Andtew's ftorn the bellefactO in the 18 Celltury, and the devoted and careful husbandry of the fidS accrning oversubsequent cEnturEes. Theyare grnteful to all who have given wqse advice frorn theircxpertise in theit particular fields as and when ryired.
Saint Andrew's Church Estate including the Charity of Sir William Blackett the Younger Trustees, Report for the year ended 31 December 2024 ststement of Trustees. Regponslb511t5es Th¢ Trus¢¢¢s ar¢ r¢5p(Trnsibl¢ for preparing the Trustees. Report the fllwicial slaternents in rdanc¢ with applicabl¢ law and United Kingdom Accounting Standards (Unifrd Kingdom Generally Aepted A¢counting PrdCti¢e). The law applicable to charities in England & Wales requires the Tnjstees to prepaTe f]nantial statements for eacb fil)CIal year which gFive a tnje and fair view of the state of affairs of the clrity and of tbe iticoming resources and application of resources of the Charity for tbai period. In prepari1 these fjnallcial statement the Trnstees are required to.. S¢l¢ct suitsble accounting wliciG8 and then apply ¢ODSiStently' Make judgements and &4tintst&4 that are rthsonable and prudent; Sthte whether applicable accounting standards bave been followe4 subj1 to any matuial dqMrlur disclosed and explained in the fmallclal StatrMen and Prepare the financial statements on the going Concern basi$ unless it is inappropriate to presume that the ¢harity will continue in business. The Trusttts are iesponsible for kwing proper accounting records that disclose with rewnable accura¢y at any time th¢ fman¢ial position of the ¢lwity and enable th¢m to ¢nsure that the fxnancial slat¢m¢nts Comply witb the CharAti¢s Act 201 land th¢ provisiow of the trust deed. They are also rey)nsible for safeguarding the assets of the charity and hence for taking re&sonable steps for the preveniiott and detection of fraud and other irregularities. Approved by the Trustees and signed on their bby. Rosemary Hall Churchw8rden & Trustee Dale
Independent examiners, report to the Trusteas of Salnt Andrew's Church Estate Includlng tho Charlty of Slr Wllllam Blackett the Younger I report on the accounts of the Charity for the year ended 31 December 2024, which aje set out on pages 7 to 13. This report is rnade solely to the Trnsiees, as a body. The examination has been undertthen so that I might statr to the Trustees those matters that are required to be slated in an exatniner's report ond for no other purpose. To the fullest extet]t pernhitted by law. I do not accept or assume responsibility to anyone other than the Charity the Trnsiees as a body, for this examination, for this report, or for the statements Respoctlvè responsibilities of Trustses and examiner The Charity's Trnst¢es are restKJnsible for the preparation of the accounts.. The TN$ttts ¢onsider that an audit is not required for this year under section 144{21 ofthe Charities Act 2011 {the 2011 Act) and that an independent examination is needed. It is my reSnsIbIlity to.. examine the aceoullts llr se¢tion 145 of the 2011 Act; lo follow the procedures laid down in the general D1CtionS given by the Charity com1&s1O under sectlon 145(5)(bl of the 2011 ACL and to slate whether particular matter5 have Come to my attention. Basis of Independent examinerfs statemont My examination was carried out in aCCordae with the geJLerdl Dir¢ctions given by the Charity Commission. AD exaTniDation inoludes a review of the accountin¥ records kept by the CbarÉty and a comparibon of the accounts presented with those records. It also in¢lud¢s consideration of any unusual items or discloswe5 in the coUnt$, and seeking explanations from you as Trustees concernin¥ any such matters. The procedures Undertaken do noi provide all the ¢vAd¢n¢¢ that would be required in an audit and con%equently no opinioll is given to whether the accounts present a 'lTue and fair view, and the report is limited ro those rnattus set out in the statement below. Independent examiner's stat8mont tn conneetion with my examination, no matter h&4 come to my attention: which gives me reasonable cause to believe that in any mAterial respect the requirements: to keep accounting records in ac¢ordance with section 130 of the 2011 Act. and to prepare accounts whi¢h 0rd with the accountitig r¢wrd% comply the accounting requirernents of the 2011 Act have not be¢n mel or 2. to which, in my opinion. attention should be thzwll in order to enable aproper understanding of the accounts to b¢ rwhe Name.. Carolille Mulley Relevant professional qualification or body.. tllgtitut¢ of Chartered Accountants in En¥l8nd and Wales Adthss". New¢astle upon T¢ Datc..
Saint Andrew's Church Estate including the Charity of Sir William Blackett the Younger Statement of financial activities for tho yoar ondod 31 De¢ombor 2024 2024 Toial 2023 To¢&1 Nolay Unre51ricled RestrtLted INCOME FROM.. Voluntary Income Donations for musi¢ s¢holarship DonatlOD for grave repair Donations 3,720 1.000 3.720 1,000 2,650 24,877 150 Fund rnlslng Investtllent income 200,690 200.690 214.041 Othrincom¢ In8urance claim 11,192 Totsl inwm¢ 200,690 4,720 205,410 252,910 EXPENDITURE Charltable a¢tlvltlgS E08,621 6,345 114,966 121,722 Costs of fundralslng 112,537 112,537 86,647 Total ¢xpenditur¢ 221,158 6,345 227,503 211,369 Net expettditu (20,468) (1,625) (22,093) 41,541 Realised gain{losses) on invesknent assets Unrealised gains on investment assets 2,573 22,926 2,573 22,926 {2.893> 19,553 N¢t mov¢m¢nl in funds in y¢ar 5,031 (1,625) 3,406 58,201 Total fimds brought fotward 3,504,160 24.877 3.529,037 3,470,836 Total funds carried forward 3,509.191 23,252 3,532,443 3.529,037 Ai] activities are continuing.
Saint Andrew's Church Estate including the Charity of Sir William Blackett the Younger Balance sheet at 31 December 2024 2024 2Q23 Notes Flx•d •ss•ts IDvesmient prop¢rtie$ Investments 2.700,0(X) 2,700,000 667,564 627,745 3,367,564 3J27,745 Current assets Debtors Cash at bank 22,021 154,709 24,569 199,280 176,730 {11,8511 223,849 {22.557) Crndltors.. amoullts falling due within one yr Net current assets 164,879 201292 Netassots 3.532,443 3.529,037 Funds Unrestricted Restricted 3.509,191 23,252 3,504,160 24,877 Total funds 3,532,443 3,529,037 Approved by the Board of Trustees on and signed on its behalf by: Ros¢mary Hall (Churchwarden and Trustee)
Saint Andrew's Church Estate ir)cluding the Charity of Sir William Blackett the Younger Notes to the financial statements at 31 Detsmber 2024 1. Accounting policias statemenl of compllance and basls ofpreparnllon Saint Andrew's Church Estate is art unittcotporated Charity registered in England. The RegL8ter¢d Office is St Andrew's Church, Newgate StreeL Newc&sile upon Tyne, NEI SSS. The financial statements have been prepared in con)plianc¢ with th¢ Charities SORP (FRS 102) "Accounting at]d Reporting by Charities.. Statemeni of Rewmmended Practi¢e applicAble to ¢twities preparin8 their accounts in accordance with the Ftnancial Reporting Standards applicable in th¢ UK and Republic of Ireland (FRS 102) (effective l January 20151" The Charity is exempt from preparing a statement of c&sh flows as it meets the requirements of a Small Charity. The principal a¢¢ounting pobcics adopted in the preparatioll of the financial statements are set out below. Accounllng convention Th¢ finallcial statenLellts are prepared under the historical cost Convencion and io a¢¢ordanc¢ with tbe Ac¢ounting and R¢portitig by Charities.. StameThi of Recommended Practice So1 IFRS 102). There were no mat¢rial diff¢rences identified ott adoption of the SORP (FRS 1021. Investments Investments are iticluded in the balance sheet at market value. Proctt(ts from sale of rights issues are credited against the cost of investment. The Sts¢ement of Financiol A¢tivities include$ the n¢1 gaiDS and losses arising on revaluation alld dtsposals throughout the year. In$1•ntP1oprtIeS The Charity's properties are held for long-t¢rn investment. Investment propertits are accounted for in accordance with FRS 102 and are held at fairvalu¢. The assets we valued by an independent fm of chartered SLwveyors. The valuation is perfomied every five years, subj¢¢t only 10 obtaining advice as to the possibility of ally ma*rial movements between valuations. Any material surplus or defi¢it on revaluation is transferred io the revaluation reserve unless a defi¢iL b¢low origiti ¢OSL or its revetsal, on art individual investment properry is expected to be pernIat, in which ¢as¢ it is r¢¢ognis¢d in tbe statement of fmancial activities for the year. The Truste b¢lieve that the po]icy of not providing depreciation is necLssary in order for the flnancial statements to give a tTU¢ and fakr view, since the curtcnt value of investment properties, and ¢hanges to that cuent value, ar¢ of pri¢ irnportauce rather than a Calculation of systetnati¢ annual depriats¢)n. Depreciation is only one of the mally factors reflected in the annual Valuatio and the amount which might otherwise have been in¢luded WEnot warately idelllifjed or quantified. Fund #ccountino If the Cbarity receive5 fimds for a particular purp)se specified by the donor then the atllouttts are included in restricted and the relevant expenditure is charged against the fimd. In$£mant Incom• Income from bank deposits and dividends area¢counted foron a received basis. Rentsls receivable are credited in the statement of fuwicial activities on an basis recognising &ncome receivable for the period. 10
Saint Andrews Church Estate including the Charity of Sir Wllliam Blackett the Younger Notes to the financial statements at 31 Dgcomber 2024 1. Accounting policies {contlnued) Resources •xp•nded Liabiiiti¢s are recognised as gOTr¢S expended as soon as there is a legal or constructive obligation ¢omrnitling the Charity to the expenditsre. All expenditure ts CoUllted for on an accruals b&8]8 at)d has been Ipssified underheadin8S thataggregate all costs rejatd to thecategory. Where expenditur¢fa115 wholly within one of the expenditure categories conthined within the Statement of Financial Activi¢i¢s, it is shown wholly within that category. Other cosL8 are allocated to the expenditure categories by maDag¢m¢nt oll a reasonable and consi¢nI basil each year. haviTJg regard to the proportion of time orThurc¢s expend OA each aetivity. Investment Income 2024 2025 Dividends Interest receivable Rent received 18,603 1,080 181,IM)7 19,02l 361 194.659 200,690 214,041 3. R•8ourcgs expendod 2024 2023 ExpendEÉurepoyable infvTthernnce ofch(wry s Objecirv- wircslricied Diocew] quots Repaiys and restoration cos18 Architext feeg Music Scholarship Support costs 30,000 17,517 1,400 11,969 47,735 29,730 15,161 11,300 51,689 108,621 107,880 Expend£turepoyable infurtherance ofcharity s obj¢eiive5- reslrEcied Music scholarship Repairs funded by insurance claitn Grdve repairs- architect fees 3.720 2,650 11.192 2.625 6,345 13,842 Fud ruislng Investtnellt property ¢osis Inv¢stment propetry mallagern¢nt Costs Investment property prof¢ssional fees re new le&s¢ Inv&8tmeni management fecs Support costs 50,363 7,440 2,414 4,585 47,735 25,552 7,440 4,966 51,689 112,537 89,647 11
Saint Andrew's Church Estate including the Charity of Sir William Blackett the Younger Notes to the financial statements at 31 Do¢•mbor 2024 3. Rèsourcos expended {continuad} Support eosts ofekariiabl¢ aciivili Accommodation expenses StatTcosts Other administrative costs Independent erdminer 40,134 54,669 567 loo 48,726 52,764 1.788 95,470 103,378 Allocated based on time spent by staff 50Yo to ¢harithble tivItieS and 50Vo to fimd raising No renmneration was paid io Trusttts for their role as Trnstees in the year, nor were any Trustees, expenses reimbursed. The staff costs were in respect of the verg&s %alary, and the salary of the administrative assistant which were paid on behalf of St Andrew's as well as a contribulion to Costs of Revd M Hills. See commentwy in the Trusttts, Rq)ort re remunerdtion paid to the Chairman in relation to hig role as ineumbent of St Andrew's Chuwh, rather thatt his role as a TTUStee of this ¢harity. 4. Investmont properties Freeholdpmperry Valuation: At 31 December 2022 and 31 December 2021 2.700,0(X) The freehold property consists of.. 91195 Percy Street, Newcastle upon NEI 7RW- this propety w&s valued by Johnson Tucker on 24 May 2022 at £2,000,(x)o. Bradburn House, 64no Northumberla1 Street, Newcastle uwTrn T)ryJe, NEI 7DF- this property was valued by Johnson Tucker on 24 May 2022 at £700,000. These properties #re leased to tenants under operating leases, 91195 Percy Street over a range of periods with expiry dates up to 2028 and Bradburn House with 92 years remaining. 12
Saint Andrew's Church Estate including the Charity of Sir William Blackett the Younger Notes to the financial ststements at 31 December 2024 5. Investments Unrulricied fvnds Total Lified inv¢ments sh M8rk¢i value at l January 2024 ttss Disposals Add Acquisiiions at cost Cbange in market value Dividends and interest Investhient fees 617,022 (80,2691 91,884 25,499 3,056 10,723 SO,269 (91,8841 627.745 25,499 20,357 16,0381 17.302 (6.038) MaTket value at 31 Deeember 2024 657,192 10.372 667,564 Historic cost at 31 December 2024 613,595 All investments were managed by Brewin Dolphin. The Trustees Consider individual investmellt holdings i excess of IOfy/(* of the p)rtfolio value to be material; there were no material investment holdings in the yeaT. 6. Debtors 2024 2023 Prepayments Balance held by prowty managers Arrears of Tent 9,245 1,568 11,208 1,755 21,647 1,167 22.021 24,569 7. Creditors 2024 2023 Trade creditors Deferred rental incom¢ 10,168 1,683 14,440 8.117 11,851 22,557 8. Related party transactions Two of the three Trustees are churchward¢D$ of St Andrew's Church. The grnllts made to St Andrew's Church for repairs and maintenance are set out in note 3. 13
Saint Andrew's Church Estste including the Charity of Sir William Blackett the Younger Notes to the financial statements at 31 Docgmbor 2024 9. Bequest Account Thiy UllI represents the Charity of Sir William Blackett the Younger 1st Andrew's Ancient Parish Relief in Need Chari(y) 2024 2023 Balance as at l January 2023 Inveslment income for the year Expendittwe during the year 20 20 Balallce as at 31 D¢¢ember 2023 20 20 10. Taxation As a registered clwity the entity is not liable for any corpordtlOD tax aTising from its aclivities during the year. 11. Analysls of movements on funds Ai 31 December 2Q24 Invesimertt Losses 2024 Income Expertditure Tranyfers Unresiric¢ed GenEral 3.504,160 2(K),690 (221,158) 25,499 3,509,191 Restrieltd Music Scholarship Donation re grnve 3,720 I,O(K) (3,720) (2,625) 24,877 23,252 24.877 4.720 (6,345) 23,252 Totèllunds 3,529,037 205,410 1227,503) 25,499 3,532,443 14