## 



## 

|Trustees||K LActon|
|---|---|---|
|||A Chapman|
|||A RCox|
|||K L Hodgkiss|
|||C Maxwell-Hodkinson|
|||JSTopolinski|
|||SGWilson|
|Chairman||K LActon|
|Deputy Chairman||A Chapman|
|Clerk||A C Fletcher|
|Charity number||252371|
|Principal office||9Chorley New Road|
|||Bolton|
|||BL14QR|
|Independent|examiner|Simon Worswick BAFCA|
|||RP Smith &Co Limited|
|||Hamill House|
|||112-116Chorley New Road|
|||Bolton|
|||BL14DH|
|Bankers||The Royal Bank ofScotland pic|
|||46-48 Deansgate|
|||Bolton|
|||BL1 1BH|
|Investment|advisors|James Sharp &Co|
|||Exchange House|
|||39Knowsley Street|
|||Bury|
|||BL9OST|





|||Page|
|---|---|---|
|Trustees report||1-2|
|Independent<br>examiner's|report||
|Statement offinancial activities|||
|Balance sheet|||
|Notes to the accounts||6-17|





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|||||Unrestricted|Endowment|Total|Total|
|---|---|---|---|---|---|---|---|
|||||Funds|Funds|2021|2020|
||||Notes|f|||f|
|Income and endowments|from:|||||||
|Income from investments||||69,604||69,604|64,780|
|Other income||||307||307|1,246|
|Total income||||69,911||69,911|66,026|
|Expenditure<br>on:||||||||
|Investment<br>management|costs|||945||945|935|
|Charitable<br>activities||||58,649||58,649|33,549|
|Total expenditure||||59,594||59,594|34,484|
|Net income Iexpenditure||||10,317||10,317|31,542|
|Gains (Losses) on investment||assets||||||
|On disposal|||17|(15,086)|(4,955)|(20,041)|(35,546)|
|On revaluation|||17|162,947|8,890|171,837|(115,145)|
|Net movement<br>in funds||||158,178|3,935|162,113|(119,149)|
|Fund balances at 1 January 2021||||1,670,455|93,843|1,764,298|1,883,447|
|Fund balances at 31 Oecember 2021||||1,828,633|97,778|1,926,411|1,764,298|





||NOTES||2021||2020|
|---|---|---|---|---|---|
|Fixed Assets||||||
|Investments|||1,847,681||1,682,583|
|Total Fixed Assets||||||
|Current Assets||||||
|Debtors|10|3,300||149||
|Cash at Bank and in Hand||76,727||83,172||
|||80,027||83,321||
|Current Liabilities||||||
|Creditors|12|(1,297)||(1,606)||
|Net Current Assets|||78,730||81,715|
|Total Net Assets|||1,926,411||1,764,298|
|The Funds ofthe Charity||||||
|Endowment<br>Funds|13||97,778||93,843|
|Unrestricted<br>Funds|13||1,828,633||1,670,455|
|Total Charity Funds|||1,926,411||1,764,298|





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## 

|2 Investment|income|||||||||
|---|---|---|---|---|---|---|---|---|---|
|||||||||2021|2020|
|Income from|listed investments|||||||69,603|64,780|
|Interest receivable||||||||||
|||||||||69,604|64,780|
|3Other income||||||||||
|||||||||2021|2020|
|Compensation|from|Royal bank ofScotland shares||||||307|682|
|VAT refunded|on safe custodian fess||||||||564|
|||||||||307|1,246|
|4 Employees|IKey Personnel|||||||||
|The average<br>monthly||number||ofemployees||during the|year was:|||
|||||||||2021|2020|
|||||||||Number|Number|
|Lecturer||||||||1|1|
|Employment|costs|||||||2021|2020|
|Wages and salaries||||||||26,463|13,727|
|Social security costs||||||||||
|Pension costs||||||||10,024|3,846|
|Relocation and resettlement||||costs||||1,906|6,192|
|||||||||38,393|23,765|
|There were no|employees||whose annual||remuneration||was 660,000or more.|||
|5Expenditure|on charitable|||activities||||||
|||||||||2021|2020|
|Costs relating|to charitable<br>activities comprise:|||||||||
|Investment<br>management|||costs|||||945|935|
|Lecturer's<br>Stipend (note|||4)|||||38,393|23,765|
|Grant towards|living|expenses of Lecturer||||(note 6)||13,200|3,000|
|Clerk's fee||||||||6,000|5,800|
|Independent|Examiner's||fee|||||1,056||
|||||||||59,594|34,484|





## 

## 

|Grants payable|||||
|---|---|---|---|---|
||||2021|2020|
|Grants to institutions|relating to Lecturer's|living expenses comprise:|||
|The Parish Church|ofthe Ecclesiastical Parish ofSt Peter' s, Bolton-le-Moors||13,200|3,000|



## 

## 

|||Unrestricted<br>Fund|Endowment<br>Fund|Total|
|---|---|---|---|---|
|UK listed investments|||||
|Market value at 1 January 2021||1,588,741|93,842|1,682,583|
|Acquisitions<br>at cost||205,829|32,531|238,360|
|Disposals at opening|book value|(184,586)|(30,422)|(215,008)|
|Change<br>in value in the year||139,920|1,826|141,746|
|Market value at 31 December 2021||1,749,904|97,777|1,847,681|
|Historical cost:|||||
|At 31 December 2021||1,063,589|80,838|1,144,427|
|At 31 December 2020||1,065,373|85,792|1,151,165|
|10Debtors|||||
||||2021|2020|
|Taxes recoverable||||149|
|Prepayments<br>and accrued income|||3,300||
||||3,300||
|11Cash at bank|||||
|||Unrestricted<br>Funds|Endowment<br>funds|Total|
|Royal Bank ofScotland||(2,009)||(2,009)|
|James Sharp &Co||78,735||78,736|
|||76,726||76,727|





## 

## 

|12Creditors||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|||||||||||||2021|2020|
|Accruals||||||||||||1,297|1,606|
|13Movement|in funds|||||||||||||
|||||||Balance at||||Movement|in funds||Balance at 31|
|||||||1|January<br>2021||Income|Expenditure||Gains<br>/|December<br>2021|
|||||||||||||(Losses)||
|Endowment|Fund||||||93,843|||||3,935|9/,778|
|Unrestricted|Fund||||||1,670,455||69,911|(59,594)||147,861|1,828,633|
|Total Funds|||||||1,764,298||69,911|(59,594)||151,796|1,926,411|
|14Analysis ofnet||assets between|||funds|||||||||
||||||||||Unrestricted<br>Funds|||Endowment<br>funds|Total|
|Fund balances|at 31 December 2021 are|||||represented||by:||||||
|Investments||||||||||1,749,904||97,777|1,847,681|
|Current assets||||||||||80,026|||80,027|
|Creditors: amounts||falling due|within||one|year||||(1,297)|||(1,297)|
|||||||||||1,828,633||97,778|1,926,411|
|Unrealised<br>gains included above:||||||||||||||
|On investments||||||||||686,314||16,940|703,254|
|Reconciliation|ofmovements||in unrealised|||gains||||||||
|Unrealised<br>gains at 1 January|||2021|||||||523,367||8,050|531,417|
|Net gains/(losses)||on revaluations||in year||||||162,947||8,890|171,837|
|Unrealised<br>gains at 31 December 2021||||||||||686,314||16,940|703,254|



## 



## 

|ecovery contributions<br>(as a percentage<br>of pensiona|ble<br>stipends) are as set out in the table belo|w.|
|---|---|---|
|%ofpensionable<br>stipends|January 2018to<br>December 2020|January 2021to<br>December 2022|
|Deficit repair contributions|11 9o/||



||||2021||2020||
|---|---|---|---|---|---|---|
|Balance sheet liability at|1 January|||||6,000|
|Deficit cantributian<br>paid||||-2,000||-1,000|
|Interest cost (recognised|in SoFA)||||||
|Remaining<br>change to the|balance sheet liabflity* (recognised|in SoFA)||4,000||-5,000|
|Balance sheet liability at|31 December|||2,000|||



|||December 2021|December 2020|December 2019|
|---|---|---|---|---|
|Discount rate||0.0%pa|0.2%pa|1.1%pa|
|Price inflation||n/a|3.1%pa|2.8%pa|
|Increase to total pensionable|payroll|-1.5%pa|1.6%pa|1.3%pa|





## 

|16Comparatives<br>for 2020|16Comparatives<br>for 2020||||||
|---|---|---|---|---|---|---|
|Statement of Financial Activities|||||||
|||||Unrestricted|Endowment|Total|
|||||Funds|Funds|2020|
|||||6|6||
|Income and endowments||from:|||||
|income from investments||||64,780||64,780|
|Other income||||1,246||1,246|
|Total income||||66,026||66,026|
|Expenditure<br>on:|||||||
|Investment<br>management|costs|||935||935|
|Charitable<br>activities||||33,549||33,549|
|Total expenditure||||34,484||34,484|
|Net income Iexpenditure||||31,542||31,542|
|Gains (Losses) on investment|||assets||||
|On disposal||||(38,564)|3,018|(35,546)|
|On revaluation||||(106,881)|(8,264)|(115,145)|
|Net movement<br>in funds||||(113,903)|(5,246)|(119,149)|
|Fund balances at 1 January||2020||1,784,358|99,089|1,883,447|
|Fund balances at 31December 2020||||1,670,455|93,843|1,764,298|
|Fixed asset investments|||||||
|||||Unrestricted<br>Fund<br>Endowment<br>Fund||Total|
|UK listed investments|||||||
|Market value at 1 January|2020|||1,729,286|99,068|1,828,354|
|Acquisitions<br>at cost||||46,002|17,553|63,555|
|Disposals at opening<br>book||value||(45,576)|(17,416)|(62,992)|
|Change<br>in value in the year||||(140,971)|(5,363)|(146,334)|
|Market value at 31 December|||2020|1,588,741|93,842|1,682,583|
|Historical cost:|||||||
|At 31 December 2020||||1,065,373|85,792|1,151,165|
|At 31 December 2019||||1,099,038|82,754|1,181,792|





## 

|16Comparatives<br>fo<br>Cash at bank|r 202|0 continued||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
|||||||Unrestricted<br>Funds|||Endowment<br>funds||Total|
|Royal Bank ofScotland|||||||(7)||||(7)|
|James Sharp 8 Co|||||||83,178||||83,179|
||||||||83,171||||83,172|
|Analysis<br>ofnet assets between funds||||||||||||
||||||||Unrestricted<br>Funds|||Endowment<br>funds|Total|
|Fund balances at 31 December 2020 are|||represented||by:|||||||
|Investments|||||||1,588,741|||93,842|1,682,583|
|Current assets|||||||83,320||||83,321|
|Creditors: amounts|falling due within one||year||||(1,606)||||(1,606)|
||||||||1,670,455|||93,843|1,764,298|
|Unrealised<br>gains included||above:||||||||||
|On investments|||||||523,367|||8,050|531,417|
|Reconciliation<br>ofmovements<br>in unrealised|||gains|||||||||
|Unrealised<br>gains at|1 January 2020||||||630,248|||16,314|646,562|
|Net gains on revaluations||in year|||||(106,881)|||(8,264)|(115,145)|
|Unrealised<br>gains at|31 December 2020||||||523,367|||8,050|531,417|
|Movement<br>in funds||||||||||||
||||Balance at||||Movement|in|funds||Balance at 31|
||||1|January<br>2020||income|Expenditure|||Gains I|December<br>2020|
||||||||f|||Losses<br>6|6|
|Endowment<br>Fund||||99,089||||||(5,246)|93,843|
|Unrestricted<br>Fund||||1,784,358||66,026<br>(34,484)||||(145,445)|1,670,455|
|Total Funds||||1,883,447||66,026<br>(34,484)||||(150,691)|1,764,298|



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