Charlty number. 254617 THE PARISH FEOFFMENT AND ANN WRIGHT CHARITY UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021 THE PARISH FEOFFMENT AND ANN YIRIGHT CHARrr( CONTENTS Page Relerence and administrative details of the charlty. Its Trustees and advisers Trustees. report Independent examinerfs report Statement of finan¢lal actlvili Balance sheet Notss to Ihe financial ststements 8-17 THE PARISH FEOFFMENT AND ANN WRIGHT CHARirf REFERENCE AND ADWNISTRATIVE DETAILS OF THE CHARrrY. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 30 JUNE 2021 Trustoes Mr A M Sinclair MrA J Dixon Mr B Crux Ms H M Burr(Yws Mr P D Widdscombe Mr A J Barri>n Charity rogistgr9d number 254617 Prfnclpal office Fairfieki The Mile Pctklinglon Y042 1TW Clgrk to the trustoes Ms D Hepworth Independent exarniner Jane Marshall FCA DCI BHP LLP Rievaulx House 1 St Marls Court Yorf( Y024 1AH Banke National Westrninster 1 Market Place York Y019YH Investment adviser Brewin Dolphin 12 SMithf￿d Street London EC1A 98D Page 1 THE PARISH FEOFFMENT AND ANN WRIGHT CHARIT TRUSTEES. REpoi¥r FOR THE YEAR ENDED 30 JUNE 2021 The Trustees present their report and Ihe financral sL*ements of the charity for the year ended 30 June 2021. The trustees have adopted the prow$￿5 of the Smement of Recommended Practice ISORPI "Aecounling and Reporting by Charities" in preparing the annual reF*)rt and financial stat￿mentS of the charity. The financial statements ha￿ been prepar&J in aCx0rdan￿ with the xcounting policies set out in notes to the accounts and comply with the charitys governing document, the Charities Aet 2011 and Accounting and Reporting by Charrties.. SL*ement of Recommended Prthe appluble to charrt￿S preparing their accounts in aceord8nce with the Financial Rewtr"ng Stsfida￿ ￿l￿ble in the UK arKI Republ￿ of Ireknd published in October 2019. Objectives and actlvltles a. Policies and objectives The objects of the charity are.. The ￿pair and maintenance of the parish churth of SL Martin. Corty Street. York.. The ￿lief of persons Tesidenl wrthin the area of benefft. who are in nead, hardship or distress; In exceptional cases the trustees may assh* somaone who is.. - resident outside the area of ber￿. or - only temporarity resident in the area of benefft", If the income of the charty cannot be applied towards lal above, the trustees may appty rt towards the repair of the churches of St Helens and the United Parish of Yoth St Martin In setting objectives and planning for activibes, the Truslees have grven due consideration to general guidance published by the Chanty Commiss￿￿ rdats.ng to pU￿1C benefit, including the gUIdar￿ 'Public benefit.. running a challty IP82}'. b. Grdnt4naking policies The Charity has established its grant making to achieve 115 obje¢ts for the publi¢ benefft. The ChaTrty invrtes applications for funding. The applicatwjns are revithved against the cnteria as set out in the Deed. Achievements and perfomiance . Revlew of activities In the current year the trustees have awarded grants of £15,09112020.. £37,219) in exercise of their discretion. Flnancial rnview a. Going concern After making apprcpnate enquiries. the Trustees a reasonable expectakn that the charity has adequate resources to continu8 in operalhjnal ￿$tenCe for the foreseeable future. For this reason, they continue to adopt the going concem basis in préparing the financial statemerts. Page 2 THE PARISH FEOFFMENT AND ANN WRIGHT CHARITY TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2021 b. Reser¥es polky It 1$ the wlicy of the charity lo maintain funds at a level commensurate wth rts obligations. The aim is to provide suffieient funds to cover management and administratN)n costs and to respond to 8pplieations for grants which arise from lime to lime. Funds were maintained above this level throughout the year. The investments are hehj to generate inccmme to fijnd Charitab￿ act￿lt￿. These are therefore excluded from free reserves. The free reserves of the Charity as at 30 June 2021 are £69.691 12020.. £55,060). c. Results During the year, the charty has an excess of inco￿￿ over expendrture of £34,02912020.' excess of expendf(ure over income of £57,168). Taken together with the gains on investments of £171.07212020'. losses of £236,579), this has resulted in an increase in funds of £205,101 12020-. d￿rease in fijnds £293,747). Total funds carried fomard amount lo £1.751,884 {2020.. £1,546.7831. whth ccrfnpris8s the endcwment fund of £799,316 {2020.' £766,555) and un￿trided funds of £952,￿8<202O. £780.2281. Our rental income over the Iwdve months to the end of Jijne a full year for the new let of 2 Coney Street but has been less than woukl nomalty be the case as we supported our tenants financially. This was by Sfdy of granting -rent holidays" for periods when hXkd(Y￿ prevented them from operating their busines5e5. However. since April 2021 the lull amunts of rents due have been ￿e1ved. There is nothing to suggest that this situation should change going fo￿ard. Structure. governance and management a. Constitution The Parish Feofftnent and Ann Wright Charrty is govemed under the scheme of the 27 April 2005 and managed by the trustees at regular meets"ngs. The trUst￿S meet four kn.mes per annum and delegate the management of the day to day running of the Charrties affairs to the cleF1¢. b. Methods of appointment or eledion of Twstees The TnJstees who served throughout the year are IL8t&J on pa3e 1. Appointment of trustees is govemed by the ConstitutM)n. Trustees are recruited and apwnted after a careful review of Ihe needs of the Charity and the skills and expertise which respective new trustees can provKle. Trustees are en￿uraged to attend exiemal trustee training sessions that are feely availab￿ in the region. Plans for future perfods The principal objects of the Charrty rdate to the maintenance and repair of the churches of St Martin and St Helen. Quinquennial reports detailing the work to be carried out are prepared. Funds are advanced lo the PCC as they are requested as work is camed out The fiJnds retained refiect the requirements set out in the quinquenni￿ reports and indude a reserve for possible additi.onal costs and add￿onal work the need for which may become apparent as woik is carried out The Feoffees continue to seek arKI reviw grant appluknons that are compatible with the ct*jects of the charity. Page 3 THE PARISH FEOFFMENT AND ANN WRIGHT CHARIT TrUSTEES' REPORT {COPmNUED} FOR THE YEAR ENDED 30 JUNE 2021 Statement of Tntstees. responsibilities The Trustees are responsible for preparing the Trustees. rewt and the financial stslements in accordance wf(h applicable Iw and Unried ￿"ngdorn Accounting Slandards (Unrted lth"ngdom Genwalty Accepted Accounting Pr&licel. The law applicable lo chwities in EngLaTrJ & Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair vivw of the sL4te of affairs of the charty and of rts incoming resources and application of resour￿. induding lés income and expendrture. for that peritra. In preparing these financial ststements, the TnJslees are reqUI￿d tr)". Select suitabbe wsuntbng pdicies and then appty them consistentty: observe the melhcmls principles of the Charities SORP IFRS 1021., make judgments and accounting estimates that are reasonabbe and prudenl", State whether applicable UK Accounting Stsndards IFRS 102} have been folkywed, subject lo any material departures disck)sed and explained in the financk81 statemenls.. prepare the financial statements on the going Con￿rn basi5 unless it is inappropriate to presume th* the charity will continue in business. The Trustees are responsible for keeping adequate accounts.ng record5 that are sufficient to show and explain the ¢hartys transactions and di5c105e with reasonab￿ accuracy at any trne the financ￿1 position of the charty and enatrAe them to ensure that the finanual st*ements wnpty with the Charrt￿S Act 2011, the Charty {Accounts and Reports) Regu￿t￿3 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the chanty and hence for taking reasonable steps for the prevention and detectK)n of fraud and other irregukqnties. Approved by order ofthe members of the board ofTrustees and Syn￿ on their behalf by. MrAMSin Trustee Date: 21 January 2￿22 ir Pagè 4 Mar 17, 2022 Jane Marshall (Mar 17, 2022 13:12 GMT) THE PARISH FEOFFMENT AND ANN WRIGlff CHARrrY STATEMETr￿ OF FINANCIAL ACTMTIES FOR THE YEAR ENDED 30 JUNE 2021 Unrestricted Endowment funds funds 2021 2021 Total funds 2021 Total funds 2020 Income and endowments from: Investsnents 69.304 69,304 34,925 Total income and endowments 69,304 34,925 Expenditure on: Raising funds Charitable activit￿$ 8.868 ,407 8.868 26.407 30.753 61.340 Tolal expenditure .275 35.275 92.093 Nel Incom￿(eXpendit￿reP before n•t gainsl{lossesl on investments Nel gains/lJossesl on investments 34.029 138.311 34,029 171.072 157,1681 1236,5791 32.761 Net movement in funds 172.340 31761 205,101 1293,7471 Rgconciliation of funds: Total funds brought foThvard Net movement in furKIs 780,228 172.340 766.$55 32.761 1.$46.783 205,101 1,840,530 {293,7471 Total funds carried foNard 952.568 799.316 1.751.884 1.546,783 The Stalement of financial activitie5 indudes all gwns and losses recc*Jn￿ed in the year. The notes on pages 8 to 17 form part ofthese financial Stat￿ents. Page 6 THE PARISH FEOFFMENT AND ANN WRIGHT CHARirf BALANCE SHEET AS AT 30 JUNE 2021 2021 2020 Note Fixod assets Investments Investment property 1.082.193 891,723 600,000 1.682.193 1.491,723 Current assets Debtorn Cash at bank and in hand 10 2,333 113,862 120.536 129.736 116,195 Credit(￿s.. amwnts falliro due within one year 11 160.045) {61.135} Net ¢urr•nt ass¢ts 69,691 55,C60 Total assets less curr•nt liabilitifjs 1.751.884 1,546,783 Total net assets 1.751.884 1,546,783 Charity funds Endowment fvnds Untestricted funds 12 12 799.316 952.568 766.555 780,228 Total funds 1.751.884 1,546,783 Ihe financtal statements were approved and authoris&J for issue by the Trusiees and signed cffl Iheir behalf by.. Mr A M Sin"&alT Trustee Date-. 21 January2022 The notes on pages 8 to 17 form part ofthe5e financial statements. Page 7 THE PARISH FEoFFMEF￿ AND ANN WRIGHT CHARITY NOTES TO ThE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30JUNE 2021 Ganeral inft*miatlon The Partsh Feoffment and Ann Wrh3ht ChaTty is an unints)rrM)rnted charity registered in England and Wales A¢¢ountlng pollcies 2.1 Basis of preparation of financlal statements The financial statements have be8n prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charrties p￿paring their accounts in accordan￿ Nwth the Financial Reportir¥J Standard applicable in the UK and Republic of Ireland issued in October 2019, the Financial Reporting Standard applThble in the United Kingdom and Republ￿ of Ireland IFRS 1021. the Chanties Act 2011 and UK Generalty AC￿pIed Accounting Practice. The ffinanaal statements have been prepared to gNe a Irue and fai￿ view and have departed from the Charit￿ (Accounts and Reports) Regulations 2008 onty to the exient required lo provide a 'true and fair This departure has invofve(I folkmng the Accounting and Reporting by Charities." Statement of Recommended Pra¢tice applicab￿ to chaTities preparing their a￿ounts in accordance wrth the Financi￿ Reporting Standarrj applicabk in the UK and RepublK of Ireland issued in October 2019 rather than the Accounting and Reporting by Charities.. Ststement of Recommended Practi effectwe from 1 April 21)05 which has since been withdrawn. The Parish Feoffment arMJ Ann Wright Chanty fneets the definition of a public benefft entty under FRS 102. Assets and liabilrt￿5 are In￿alty recognised at historical cost or Iransactp)n value unless otherwse slated in the relevant ac£ountirwJ polw. The financial ststements are prepared in sterling, which is the functional currency of the charity. Monetsry amounts in these financial statements are rounded to the nearest £. 2.2 Golng COn￿rn As part of their as5e5$ment of the going concem basis of prepaTrtion, the trustees have considered the impad ofthe Covhtr19 pandemic on the chanws ath1t￿, as well as the wder economy. After making apprcpriate enquiries, the trustees have a reasonable expectation that Ihe charity has adequate resources to continue in operational e￿$tenCe for the foreseeabbe future. For this reason they continue to adopt the going concem basis in prepariThJ the financkql statements. 2.3 Income All income is recognised we the chanty has entrtbement to the income, it is probable th* the income will be receNed and the amount of in¢ome recewdble can be measured ￿lIablY. Income tax recoverable in relation to in¥esthwt Ir￿off￿ is r￿n￿d at the time the investment income is receNable. Page 8 THE PARISH FEOFFMENT AND ANN WRIGHT CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021 Accounting policies {continued) 2.4 Expenditu Expendriure is recognised or￿9 there is a legal or constnjctive oblKJatN)n to transfer econ¢)mie benefrt to a third paty, it is probable th* a transfer of econc¥nic beneffts wll be required in settlement and the amount of the oblig*ion ¢an be measured reliabty. Expendrture is cLassified by activty. The costs of each aclwity are made up of the total of direct costs and shared costs, including support ¢osts invofved in undertaking each activity. Direct ￿$ts attributable to a single activity a￿ allocated directly to that activty. Shared costs contribute to more than one aclmty and support costs which are t attributable to a single actswty are apportioned betsveen those activities on a basis consistent with the use of resources. Central staff costs ar& althated on the basis of time spent, and depreciath)n harges allxated on the p￿tion of the asset's Use. Expenditure on raL¥ing funds includes all expenditure incurred by the charity to raise funds for its haritable purposes and indudes costs of all fundraising aclNitses events and nonsses. whether realised or Unre￿ISed. are combined and presented as 'GainsllLossesl on investments, in the Statement of fin￿Cial ath"¥rties. 2.7 Debtor Trade and other debtors are reccgnised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid nel of any trade discounts due. 2.8 Cash at bank and In hand Cash at bank and in hand indudes Cash and $hort4emi highty liquid investments with a short maturty of three months or ￿$S from the dat& of acquisition or opening of the dysit or similar account. Page 9 THE PARISH FEoFFMEF￿ AND ANN WRIGHT CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30JUNE 2021 Accounting policies {¢ontinu•d) 2.9 Llabilities and provisions Liabilit￿ are recognised when there i8 an t*lp3atKm * the Balance sheet date as a result of a past event, it is prc+)able that a transfer of econom￿ benefft wll be required in settlement, and the amount ofthe settlement can be estimatsd rel￿bty. Liabilrties are recognised * the amount that the charrty antiapates it wll pay to settle the debt or the amount it has receNed as adVan￿j payments for the goods or services rt must prov￿. Provision5 are measured at the best estimate of the amounts required lo settle the obligation. Where the effect of the time value of money is material. the provi$KJn is based on the present value of those amounts. discoLEnled at the prfrtsx dtscount rate that refiect5 the risks specific lo the liabilty. The unwnding of the discount is recLxJntsed in the St*ement of financial actmties as a finarKe cost. 2.10 Financial instruments The charity onty has financial assets arKI financial liabil¢ties of a kind that qualify as basic financial instruments. Basie finanoal instruments are inrtj.alty recognised at transaction value and subsequently measured al Iheir settlement value wrth the exception of bank loans which are subsequently m&25ured at amothsed ¢osi U￿ng the effectNe interest methcrfj. 2.11 Fund a¢¢ounting General funds are unrestn.ded funds whKth we available for use at the diSCret￿n of Ihe Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. EndcAvTnent fijnds are fvnds whKh are hekj on trust to be retained for the benefft of the charity as a capital fund. Invesbment income. pns and losses are all￿ted to the appropriate fund. 2.12 Taxation The Chanty is considered to pass the tests set OLrt in Paragraph 1 Schedule 6 of the FinaA¢e Act 2010 and therefore rt meets the definibon of a Chanty for UK income tax Purposes. Accordingly, the Charty is potentslty exempl from taxation in respect of income or caprtal gains received wrthin categories cove￿ by Income Tax Act 2007, Part 10 section 521 - section $37 or section 256 of the Taxation of Chargeable Gains Ad 1992. to the extent that skh income or gains are applied exdusivelylo Charrtab￿ purposes. Page 10 THE PARISH FEOFFMENT AND ANN WRIGHT CHARITY NOTES TO ThE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021 Investment income Unrestrleted funds 2021 Total funds 2021 Total funds 2020 Income from UK investment properties Income from UK listed investrnents Bank interest receNable 43.856 25.440 43.856 25.440 8,647 25,571 707 69.304 69,￿)4 34,925 Total 2020 34.925 34.925 Ralslng funds Total funds 2021 Total funds 2020 funds 2021 Investment management fees Investment propety eypenses 6.858 2.010 6.858 1010 7.499 23.254 8,868 30,753 Totsl 2020 30,753 30.753 Analysi5 of expenditure by activiti•s Grnnt funding of activities 2021 Support costs 2021 Total funds 2021 Totsi funds 2020 Charitable activities 15.091 11.316 26.407 61.340 Totsl 2020 37.219 24,121 61,340 Page11 THE PARISH FEOFFmE1￿ AND ANN WRIGfrrr CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021 Analysis of expenditure by activities (continued} Anatysis of support costs Total funds 2021 Total nds 2020 2021 Accountancy fees Bookkeeping Independent examination fees Clerks honorarium Insurance Bank charges Trustee costs 5,122 5.122 2,81)0 8.880 2.200 3,002 2.245 75 2.265 1.668 2.068 13 2.265 1.668 2.068 13 509 4,410 Legal and profe5sffial 180 11,316 11,316 24,121 Total 2020 24,121 24,121 Anatysis of grarts Grants to In￿ltutionS 2021 Total fiÈnd$ 2021 Total funds 2020 Grants to PCC 15.091 15.091 37,219 Total 2020 37,219 37,219 Trustges. remuneration and expenses During the year, no Trustees receNed any remuneration or other beneffts12020- £NIL). During the year ended 30 June 2021, no Trustee expenses have been incurred 12020 - £509 for 1 trustee}. Page 12 THE PARISH FEOFFMENT AND ANN WRIGtrrr CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021 Investment property Fr8ohold investment proporty Valuation At 1 July 2020 61x1.000 At 30 June 2021 61XJ.000 The trustees are ofthe opinion tha( as at 30 June 2021. the value of the propety is £600.000. One of the trustees. Bary Crux, is a Chartered Surveyor and an As￿late of the Chartered Institute of Arbrtrators. Fixed asset Inv•slments Cash h8ld in UK listed Investment portfolio Total Cost or valuatlon At 1 July 2020 AddiÉions 869.724 225.384 1199.1631 171,072 21.999 891.723 225.384 1205.9861 171.072 Disposals Revaluations (6.823 At 30 June 2021 1.067,017 15,176 1.082.193 Net book value AI 30 June2021 1,067.017 15,176 1.082.193 At 30 June 2020 869.724 21.999 891.723 The historical cost of UK ￿stad investments is £864,770 (2020: £800,798). Material investments There are no quoted investsments that &counted for more than 10% of the total investment held al 30 June 2021. Page13 THE PARISH FEOFFIAEKf AND ANN WRIGHT CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021 10. Dg1rt0 2021 2020 Due within one year Other debtOTS 9,2 2.333 9,200 2,333 11. Credltors: Amounts falling due vrfthln one year 2021 2020 other credrto Accruals arKI deferred income 43,500 17,635 16,645 60.045 61,135 Page 14 THE PARISH FEOFFMENT AND ANN WRIGFrr CHARITY NOTES TO THE FIPIANCIAL STATEIAENTS FOR THE YEAR ENDED 30 JUNE 2021 12. Ststement of funds Ststgmont of funds- current year Balance at 30 June 2021 Balance at 1 Juty 2020 Gainsl {Losses) In¢ome Expenditure Unrestricted funds General Fund 780.228 69.304 {35.275) 138.311 952,568 Endo￿nent funds Endowment Fund 766.555 32,761 799.316 Total of fvnds 1,546.783 69.304 (35,275) 171,072 1.751.884 Statement of funds- prior year Balance at 30 June 2020 Balance al 1 July 2019 Gainsl ILosse$l InCOff￿ Expenditure Unrestricted funds Gene￿ Fund 866,197 34.925 (92.093} {28,801) 780,228 Endowmant funds Endowment Fund 974,333 {207,778) 786,555 Total of funds 1.840,530 34,925 (92.0931 1236.579} 1.546,783 Page15 THE PARISH FEOFFMENT AND ANN WRIGHT CHARrr NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021 13. Analysls of net assets be1￿￿n funds Anatysis of net assets bo1￿￿n funds- current year Unrestricted Endowment funds funds 2021 2021 Total funds 2021 Ftx&J asset investsnents 882,877 199.316 600.000 1.082.193 600.000 129,736 (60.0451 Investment propety Current assets Creditors due Tr•thin one Jtar 129.736 160,045} Total 952,568 799,316 1.751.884 Analysls of net assets bet*en funds. prlor year Unrestricted Endrjwment nds funds 2020 2020 Total funds 2020 Fixed asset investments Investment property Current assets Creditors due within one year 725,168 166,555 600.0(Y) 891,n3 600,000 116,195 161,1351 116,195 161.1351 Total 780,228 766,555 1,546.783 14. Related party transactions The charity, along with the Charity of L￿nard Thompson arKJ The Potter lfjrby Tws( is administered by Ihe Feoffees of St Martins and St Helens Church. Yoi As at 30 June 2021, there were no ￿tstandIng baLances ¢yxed frcffn or to the above named charities. The Charity has an investment portf￿10 managed by Brwn tk)Iphin as disclosed in note 9 to the financial ststements. Mr P D w￿￿C￿nbe. a trust￿. is a consultant of the nat￿nal fimi of Brewin DcAphin. A trustee of the charity, Mr B Crux, is a director of Barry Crux & Company Limited. During the year payTnent$ lotalling £nil {2020". £7.980) were m￿e to Bary Crux & Company Limited for Se￿iceS rendered. Page 16 THE PARISH FEOFFMENT AND ANN WRIGHT CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021 15. Controlling party Throughoul the year, the charitywas under the contrcl of the trustee5. Page 17