2023-06-30-accounts

Charity number: 254617

THE PARISH FEOFFMENT AND ANN WRIGHT CHARITY

UNAUDITED

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

THE PARISH FEOFFMENT AND ANN WRIGHT CHARITY

CONTENTS

	Page
Reference and administrative details of the charity, its Trustees and advisers	1
Trustees' report	2 - 4
Independent examiner's report	5
Statement of financial activities	6
Balance sheet	7
Notes to the financial statements	8 - 17

THE PARISH FEOFFMENT AND ANN WRIGHT CHARITY

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 30 JUNE 2023

Trustees	Mr A M Sinclair
	Mr A J Dixon
	Mr B Crux
	Ms H M Burrows
	Mr P D Widdicombe
	Mr A J Barron
Charity registered number 254617 Principal office Fairfield The Mile Pocklington YO42 1TW Clerk to the trustees Ms D Hepworth Independent examiner Laura Masheder FCA DChA BHP LLP Rievaulx House 1 St Mary's Court Blossom Street York YO24 1AH Bankers National Westminster 1 Market Place York YO1 9YH CCLA Senator House 85 Queen Victoria Street London EC4V 4ET Investment adviser RBC Brewin Dolphin 12 Smithfield Street London EC1A 9BD

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THE PARISH FEOFFMENT AND ANN WRIGHT CHARITY

TRUSTEES' REPORT

FOR THE YEAR ENDED 30 JUNE 2023

The Trustees present their report and the financial statements of the charity for the year ended 30 June 2023. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” in preparing the annual report and financial statements of the charity.

The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply 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 published in October 2019.

Objectives and activities

a. Policies and objectives

The objects of the charity are:

• The repair and maintenance of the parish church of St. Martin;

• The relief of persons resident within the area of benefit, who are in need, hardship or distress;

• The trustees may relieve persons in need by:

• Making grants of money to them; or

• Providing or paying for goods, services or facilities for them; or

• Making grants of money to other persons of bodies who provide goods, services or facilities to those in need.

• In exceptional cases the trustees may assist someone (who is otherwise qualified) who is:

• resident outside the area of benefit; or

• only temporarily resident in the area of benefit;

• If and in so far as the income of the charity cannot be applied towards the object specified in the first sub-clause above, the trustees may apply it towards the repair of the churches of St Helens and the United Parish of York St Martin

In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.

b. Grant-making policies

The Charity has established its grant making policy to achieve its objects for the public benefit. The Charity invites applications for funding. The applications are reviewed against the criteria as set out in the Deed.

Achievements and performance

a. Review of activities

In the current year the trustees have awarded grants of £23,495 (2022: £24,843) in exercise of their discretion.

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THE PARISH FEOFFMENT AND ANN WRIGHT CHARITY

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2023

Financial review

a. Going concern

After making appropriate enquiries, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements.

b. Reserves policy

It is the policy of the charity to maintain funds at a level commensurate with its obligations. The aim is to provide sufficient funds to cover management and administration costs and to respond to applications for grants which arise from time to time. Funds were maintained above this level throughout the year.

The investments are held to generate income to fund the charitable activities. These are therefore excluded from free reserves. The free reserves of the charity as at 30 June 2023 are £95,332 (2022: £80,481).

c. Results

During the year, the charity has an excess of income over expenditure of £35,893 (2022: £28,614). Taken together with the gains on investments of £27,423 (2022: losses of £128,273), this has resulted in a increase in funds of £63,316 (2022: decrease in funds of £99,659). Total funds carried forward amount to £1,715,541 (2022: £1,652,225), which comprises the endowment fund of £781,180 (2022: £775,355) and unrestricted funds of £934,361 (2022: £876,870).

Structure, governance and management

a. Constitution

The Parish Feoffment and Ann Wright Charity is governed under the scheme of the 27 April 2005 and managed by the trustees at regular meetings. The trustees meet four times per annum and delegate the management of the day to day running of the charities affairs to the clerk.

b. Methods of appointment or election of Trustees

The Trustees who served throughout the year are listed on page 1. Appointment of trustees is governed by the Constitution. Trustees are recruited and appointed after a careful review of the needs of the Charity and the skills and expertise which respective new trustees can provide. Trustees are encouraged to attend external trustee training sessions that are freely available in the region.

Plans for future periods

The principal objects of the Charity relate 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 to the PCC as they are requested as work is carried out. The funds retained reflect the requirements set out in the quinquennial reports and include a reserve for possible additional costs and additional work the need for which may become apparent as work is carried out.

The Feoffees will continue to seek and review grant applications that are compatible with the objects of the charity.

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THE PARISH FEOFFMENT AND ANN WRIGHT CHARITY

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2023

Statement of Trustees' responsibilities

The Trustees are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of its incoming resources and application of resources for that period. In preparing these financial statements, the Trustees are required to:

• select suitable accounting policies and then apply them consistently;

• observe the methods and principles of the Charities SORP 2019 (FRS 102);

• make judgments and accounting estimates that are reasonable and prudent;

• state whether applicable UK Accounting Standards (FRS 102) have been followed;

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.

The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by order of the members of the board of Trustees and signed on their behalf by:

Mr A J Dixon

Trustee Date:

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THE PARISH FEOFFMENT AND ANN WRIGHT CHARITY

INDEPENDENT EXAMINER'S REPORT

FOR THE YEAR ENDED 30 JUNE 2023

Independent Examiner's Report to the Trustees of The Parish Feoffment and Ann Wright Charity ('the charity')

I report to the charity Trustees on my examination of the accounts of the charity for the year ended 30 June 2023.

Responsibilities and Basis of Report

As the Trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').

I report in respect of my examination of the charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

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 accounts do not accord with those records; or

3. the accounts 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 accounts to be reached.

Signed:

Dated:

Laura Masheder FCA DChA

BHP LLP Rievaulx House 1 St Mary's Court Blossom Street York YO24 1AH

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THE PARISH FEOFFMENT AND ANN WRIGHT CHARITY

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 30 JUNE 2023

Note Income and endowments from: Investments 3 Total income and endowments Expenditure on: Raising funds 4 Charitable activities 5 Total expenditure Net income before net gains/(losses) on investments Net gains/(losses) on investments 9 Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward 12	Unrestricted funds 2023 £ 84,082 84,082 14,414 33,775 48,189 35,893 21,598 57,491 876,870 57,491 934,361	Endowment funds 2023 £ - - - - - - 5,825 5,825 775,355 5,825 781,180	Total funds 2023 £ 84,082 84,082 14,414 33,775 48,189 35,893 27,423 63,316 1,652,225 63,316 1,715,541	Total funds 2022 £ 76,252 76,252 11,948 35,690 47,638 28,614 (128,273) (99,659) 1,751,884 (99,659) 1,652,225

The Statement of Financial Activities includes all gains and losses recognised in the year.

The notes on pages 8 to 17 form part of these financial statements.

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THE PARISH FEOFFMENT AND ANN WRIGHT CHARITY

BALANCE SHEET

AS AT 30 JUNE 2023

Note Fixed assets Investments Investment property 8 Current assets Debtors 10 Cash at bank and in hand Creditors: amounts falling due within one year 11 Net current assets Total assets less current liabilities Total net assets Charity funds Endowment funds 12 Restricted funds 12 Unrestricted funds 12 Total funds	13,805 138,545 152,350 (57,018)	2023 £ 1,020,209 600,000 1,620,209 95,332 1,715,541 1,715,541 781,180 - 934,361 1,715,541	9,072 131,821 140,893 (60,412)	2022 £ 971,744 600,000
				1,571,744 80,481
				1,652,225
				1,652,225
				775,355 - 876,870
				1,652,225

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

Mr A J Dixon

Date:

The notes on pages 8 to 17 form part of these financial statements.

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THE PARISH FEOFFMENT AND ANN WRIGHT CHARITY

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

1. General information

The Parish Feoffment and Ann Wright Charity is an unincorporated charity registered in England and Wales

2. Accounting policies

2.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with 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 issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and UK Generally Accepted Accounting Practice.

The financial statements have been prepared to give a ‘true and fair’ view and 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 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 issued in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

The Parish Feoffment and Ann Wright Charity meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

2.2 Going concern

After making appropriate enquiries, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements.

2.3 Income

All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.

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THE PARISH FEOFFMENT AND ANN WRIGHT CHARITY

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

2. Accounting policies (continued)

2.4 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Expenditure on raising funds includes all expenditure incurred by the charity to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the charity's objectives, as well as any associated support costs.

Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.

All expenditure is inclusive of irrecoverable VAT.

2.5 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.

2.6 Investments

Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Statement of financial activities.

2.7 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

2.8 Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

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THE PARISH FEOFFMENT AND ANN WRIGHT CHARITY

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

2. Accounting policies (continued)

2.9 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.

2.10 Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

2.11 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

Endowment funds are funds which are held on trust to be retained for the benefit of the charity as a capital fund.

Investment income, gains and losses are allocated to the appropriate fund.

2.12 Taxation

The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charity for UK income tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Income Tax Act 2007, Part 10 section 521 - section 537 or section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

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THE PARISH FEOFFMENT AND ANN WRIGHT CHARITY

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

3. Investment income

Income from UK investment properties Income from listed investments Bank interest receivable Total 2022	Unrestricted funds 2023 £ 52,800 29,932 1,350 84,082 76,252	Total funds 2023 £ 52,800 29,932 1,350 84,082 76,252	Total funds 2022 £ 49,243 26,973 36
			76,252

4. Raising funds

Investment management fees Investment property expenses Total 2022	Unrestricted funds 2023 £ 7,047 7,367 14,414 11,948	Total funds 2023 £ 7,047 7,367 14,414 11,948	Total funds 2022 £ 7,625 4,323
			11,948

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THE PARISH FEOFFMENT AND ANN WRIGHT CHARITY

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

5. Analysis of expenditure by activities

Charitable activities Door 84 Total 2022	Grant funding of activities 2023 £ 19,495 4,000 23,495 24,843	Support costs 2023 £ 10,280 - 10,280 10,847	Total funds 2023 £ 29,775 4,000 33,775 35,690	Total funds 2022 £ 30,690 5,000
				35,690

Analysis of support costs

Accountancy fees Independent examination fees Clerks honorarium Bank charges Trustee costs Total 2022	Activities 2023 £ 3,602 2,532 3,209 44 893 10,280 10,847	Total funds 2023 £ 3,602 2,532 3,209 44 893 10,280 10,847	Total funds 2022 £ 4,833 2,260 3,737 17 -
			10,847

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THE PARISH FEOFFMENT AND ANN WRIGHT CHARITY

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

6. Analysis of grants

Grants to PCC St Martins and St Helens Grants to Door 84 Total 2022	Grants to Institutions 2023 £ 19,495 4,000 23,495 24,843	Total funds 2023 £ 19,495 4,000 23,495 24,843	Total funds 2022 £ 19,843 5,000
			24,843

7. Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2022 - £NIL).

During the year ended 30 June 2023, no Trustee expenses have been incurred (2022 - £NIL).

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THE PARISH FEOFFMENT AND ANN WRIGHT CHARITY

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

8. Investment property

Valuation At 1 July 2022 At 30 June 2023	Freehold investment property £ 600,000
	600,000

The investment properties were last revalued on 30 June 2020. The trustees are of the opinion that, as at 30 June 2023, the fair value value of the property is not materially different to the carrying value of £600,000. One of the trustees, Barry Crux, is a Chartered Surveyor and an Associate of the Chartered Institute of Arbitrators.

The historic cost of the property is £197,886 (2022: £197,886).

9. Fixed asset investments

	Listed investments	Total 2023	Total 2022
	£	£	£
Cost or valuation
At 1 July	938,326	938,326	1,067,017
Additions	98,731	98,731	144,435
Disposals	(51,650)	(51,650)	(144,853)
Revaluations	27,423	27,423	(128,273)
At 30 June	1,012,830	1,012,830	938,326
Investment cash	7,379	7,379	33,418
At 30 June	1,020,209	1,020,209	971,744
Historical cost	932,733	932,733	882,842

Material Investment s

There are no quoted investments that accounted for more than 10% of the total investment held at 30 June 2023.

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THE PARISH FEOFFMENT AND ANN WRIGHT CHARITY

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

10. Debtors

Other debtors	2023 £ 13,805 13,805	2022 £ 9,072
		9,072

11. Creditors: Amounts falling due within one year

Other creditors Accruals and deferred income	2023 £ 43,500 13,518 57,018	2022 £ 43,500 16,912
		60,412

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THE PARISH FEOFFMENT AND ANN WRIGHT CHARITY

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

12. Statement of funds

Statement of funds - current year

Unrestricted funds General Fund Endowment funds Endowment Fund Total of funds Statement of funds - prior year Unrestricted funds General Fund Endowment funds Endowment Fund Total of funds	Balance at 1 July 2022 £ 876,870 775,355 1,652,225 Balance at 1 July 2021 £ 952,568 799,316 1,751,884	Income £ 84,082 - 84,082 Income £ 76,252 - 76,252	Expenditure £ (48,189) - (48,189) Expenditure £ (47,638) - (47,638)	Gains/ (Losses) £ 21,598 5,825 27,423 Gains/ (Losses) £ (104,312) (23,961) (128,273)	Balance at 30 June 2023 £ 934,361
					781,180
					1,715,541
					Balance at 30 June 2022 £ 876,870
					775,355
					1,652,225

Endowment funds

Funds held on trust to be retained for the benefit of the charity as a capital fund, including the investment properties and listed investments.

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THE PARISH FEOFFMENT AND ANN WRIGHT CHARITY

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023

13. Analysis of net assets between funds

Analysis of net assets between funds - current year

Fixed asset investments Investment property Current assets Creditors due within one year Total	Unrestricted funds 2023 £ 839,029 - 152,350 (57,018) 934,361	Endowment funds 2023 £ 181,180 600,000 - - 781,180	Total funds 2023 £ 1,020,209 600,000 152,350 (57,018) 1,715,541

Analysis of net assets between funds - prior year

Fixed asset investments Investment property Current assets Creditors due within one year Total	Unrestricted funds 2022 £ 796,389 - 140,893 (60,412) 876,870	Endowment funds 2022 £ 175,355 600,000 - - 775,355	Total funds 2022 £ 971,744 600,000 140,893 (60,412) 1,652,225

14. Related party transactions

The charity, along with the Charity of Leonard Thompson and The Potter Kirby Trust, is administered by the Feoffees of St Martins and St Helens Church, York.

There were no balances owed from or to the above related charities at either the current or previous year end.

A trustee of the charity, Mr B Crux, is a director of Barry Crux & Company Limited. During the year payments totalling £nil (2022: £1,200) were made to Barry Crux & Company Limited for services rendered.

15. Controlling party

Throughout the year, the charity was under the control of the trustees.

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