Charity number: 262613
WYE ECCLESIASTICAL CHARITIES
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
WYE ECCLESIASTICAL CHARITIES
CONTENTS
| Page | |
|---|---|
| Reference and Administrative Details of the Charity, its Trustees and Advisers | 1 |
| Trustees' Report | 2 - 5 |
| Independent Examiner's Report | 6 |
| Statement of Financial Activities | 7 |
| Balance Sheet | 8 |
| Notes to the Financial Statements | 9 - 16 |
WYE ECCLESIASTICAL CHARITIES
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2024
| Trustees | Mr Gareth Phillips, PCC Nominee & Chairman |
|---|---|
| Dr Mark Deller, PCC Nominee | |
| The Revd Ravi Holy, Vicar | |
| Mr David Ross, Church Warden | |
| Mr Robert Dudley, Church Warden | |
| Charity registered number 262613 Principal office Cumberland Court Church Street Wye Kent TN25 5BJ Independent Examiner Magee Gammon Chartered Accountants Henwood House Henwood Ashford Kent TN24 8DH Bankers Lloyds Bank plc 81 High Street Ashford Kent TN24 8SS Solicitors Hallett & Co 11 Bank Street Ashford Kent TN23 1DA Treasurer and clerk to the trustees Mr Francis Huntington Honorary advisors Mr Edmund Wilson Investment advisors Central Board of Finance of the Church of England 80 Cheapside London EC2V 6DZ |
Page 1
WYE ECCLESIASTICAL CHARITIES
TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2024
The trustees present their annual report together with the financial statements of the charity Wye Ecclesiastical Charities (incorporating William Jarman) (the charity) for the year ended 31 December 2024. The trustees confirm that the Annual Report and financial statements of the charity comply with the current statutory requirements, the requirements of the charity's governing document and the provisions of the Statement of Recommended Practice (SORP), applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015).
Objectives and activities of the Charity for Public Benefit
a. Grant-making policies
The charity invites applications for grants from Wye Parochial Church Council (PCC). All applications, if in furtherance of the objects, are considered and approved by the trustees at their biannual meetings. Official applications are then made in writing and the grants are confirmed in writing when the relevant approved funds are paid out to Wye PCC.
b. Main activities undertaken to further the Charity's purposes for the public benefit
In accordance with the Charity Commission Scheme of 2001, the objects of the charity are as follows, in order of priority:
-
To repair and maintain the fabric of Wye Parish Church, inclusive of the tower and chancel.
-
To repair and maintain the Parish Church and all things therein necessary to the performance of divine service.
-
To repair and maintain the churchyard of the Parish Church.
-
To assist in the provision and maintenance of such buildings in furtherance to the religious and other charitable work of the Church of England in the Parish which may be erected within the curtilage of the said churchyard.
The trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the charity’s aims and objectives, and in planning future activities.
c. Restriction
The capital fund of the charity derives from investment in real property and so is not available for distribution by the trustees.
Achievements and performance
a. Review of activities
Total income from investments for the year amounted to £39,365 (2023: £37,281). Total grants amounted to £24,862 (2023: £14,601), of which £16,714 (2023: £7,208) related to church fabric repairs. Grants were also made for the church insurance of £7,598 (2023: £7,393) and £550 was made towards the Organ Fund in the year (2023: £Nil).
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WYE ECCLESIASTICAL CHARITIES
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
Achievements and performance (continued)
b. The Luxmoore Trust
Wye Ecclesiastical Charities continues to administer the income from this trust, whose objects are the same as its own, on behalf of the Wye PCC. The Canterbury Diocesan Board of Finance remain the custodial trustees, and they pay the income quarterly direct to Wye Ecclesiastical Charities.
At 31 December 2024, the total value of the Luxmoore Trust funds was £338,284 (2023: £326,941) divided between the Investment Fund (58%), the Global Equity Fund (34%) and the Property Fund (8%).
The Luxmoore Trust is shown as a separate source of income in the accounts, but grants are made from the joint income.
c. Investment policy and performance
The charity invests in accordance with the Trustee Act 2000.
As at 31 December 2024, the total value of the WEC capital funds was £1,005,019 (2023: £976,744) divided between the CBF Investment Fund (80%), the Global Equity Fund (17%) and the Property Fund (3%).
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. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
b. Reserves policy
The charity aims to maintain reserves in unrestricted funds to allow the release of said funds as and when approved to further the charity’s objects.
As at 31 December 2024, the total value of the WEC unrestricted funds were £64,127 (2023: £52,520).
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WYE ECCLESIASTICAL CHARITIES
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
Structure, governance and management
a. Constitution
The charity is an unincorporated charity, constituted by the Scheme of the Charity Commissioners dated 24 April 2001, and is a registered charity, number 262613.
The funds of the Wye Ecclesiastical Charities are derived substantially from the sale in 1985 of a piece of land in Wye. The land was originally the subject of a charity, created by a Mr Jarman in 1481, the funds of which are governed by an Order made in 1894 and an amended Scheme in 2001 by the Charity Commissioners for England and Wales. Under this Order:
-
The trustees are the Vicar and Churchwardens for the time being of the Parish of Wye and two others nominated by Wye Parochial Church Council.
-
The net income is to be applied “in or towards the maintenance and repair of the fabric of the Parish Church of Wye, inclusive of the tower, chancel and churchyard and all things therein necessary to the performance of Divine Worship.”
The trustees have confirmed that in accordance with the Scheme to be known as Wye Ecclesiastical Charities (incorporating William Jarman) surplus income may be retained to form a fund to be used for extraordinary repairs or improvements in accordance with the objects of the charity.
b. Trustee Body
The trustees are the Vicar and Churchwardens for the time being of the Parish of Wye. The Scheme of the Charity Commissioners provides for a maximum of two nominated trustees appointed by the Wye Parochial Church Council – the procedure for their appointment being that suitable members of the church congregation are nominated, and voted for by the whole PCC. The nominated trustees are appointed for terms of three years, at which time they may be re-elected. All trustees receive an induction through discussion with the Chairman and other trustees.
The trustees who served during the year were as follows:
The Revd Ravi Holy (Vicar) from 14 January 2010 Mr Gareth Phillips (PCC Nominee & Chairman) from 7 November 2012 Dr Mark Deller (PCC Nominee) from 15 July 2013 Mr David Ross (Church Warden) from 1 April 2020 Mr Robert Dudley (Church Warden) from 25 May 2022
Mr James Loudon continued to serve as Advisor to the Trustees until his resignation. The role was taken on by Mr Edmund Wilson.
Mr Francis Huntington continued to serve as Clerk and Treasurer to the Trustees.
The trustees meet a minimum of twice a year, at which meetings the trustees agree the broad strategy and areas of activity for the charity, including consideration of future grant making, investment and reserves, management and performance. Extra meetings of the trustees are called for any extraordinary expenditure/decisions.
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WYE ECCLESIASTICAL CHARITIES
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
Structure, governance and management (continued)
c. Application of income
The trustees shall first defray out of the income of the charity all proper costs, charges and expenses of, and incidental to, the administration and management of the charity. Subject to the payments aforesaid, the trustees shall apply the excess income of the charity in furthering the objects of the charity.
Approved by order of the members of the board of Trustees and signed on their behalf by:
_________ Mr Gareth Phillips (Chair of Trustees) Date:
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WYE ECCLESIASTICAL CHARITIES
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2024
Independent Examiner's Report to the Trustees of Wye Ecclesiastical Charities ('the Charity')
I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 December 2024.
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.
Independent Examiner's Statement
Your attention is drawn to the fact that the Charity has prepared the accounts 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 (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.
I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
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:
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accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or
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the accounts do not accord with those records; or
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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.
This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent Examiner's Report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.
Signed: Dated:
Mr Andrew John Childs FCA
Magee Gammon Corporate Limited Henwood House Henwood Ashford Kent TN24 8DH
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WYE ECCLESIASTICAL CHARITIES
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024
| Note Income and endowments from: Investments 3 Total income and endowments Expenditure on: Charitable activities 4 Total expenditure Net income before net gains on investments Net gains on investments Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds 2024 £ 39,365 39,365 27,758 27,758 11,607 - 11,607 52,520 11,607 64,127 |
Endowment funds 2024 £ - - - - - 28,245 28,245 976,774 28,245 1,005,019 |
Total funds 2024 £ 39,365 39,365 27,758 27,758 11,607 28,245 39,852 1,029,294 39,852 1,069,146 |
Total funds 2023 £ 37,281 |
|---|---|---|---|---|
| 37,281 | ||||
| 17,434 | ||||
| 17,434 | ||||
| 19,847 86,975 |
||||
| 106,822 | ||||
| 922,472 106,822 |
||||
| 1,029,294 |
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 9 to 16 form part of these financial statements.
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WYE ECCLESIASTICAL CHARITIES
BALANCE SHEET AS AT 31 DECEMBER 2024
| Note Fixed assets Investments 8 Current assets Debtors 9 Cash at bank and in hand Creditors: amounts falling due within one year 10 Net current assets Total net assets Charity funds Endowment funds 12 Unrestricted funds 12 Total funds |
9,303 56,018 65,321 (1,194) |
2024 £ 1,005,019 64,127 1,069,146 1,005,019 64,127 1,069,146 |
9,169 44,521 53,690 (1,170) |
2023 £ 976,774 52,520 |
|---|---|---|---|---|
| 1,029,294 | ||||
| 976,774 52,520 |
||||
| 1,029,294 |
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
_________ Mr Gareth Phillips (Chair of Trustees) Date:
_________ Mr F Huntington (Clerk)
The notes on pages 9 to 16 form part of these financial statements.
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WYE ECCLESIASTICAL CHARITIES
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
1. General information
Wye Ecclesiastical Charity is a charity registered in England and Wales under number 262613. The principal office is Cumberland Court, Church Street, Wye, Kent, TN25 5BJ.
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
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 Charities SORP (FRS 102) published 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.
Wye Ecclesiastical Charities 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.
2.2 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.
The recognition of income from legacies is dependent on establishing entitlement, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of entitlement to a legacy exists when the Charity has sufficient evidence that a gift has been left to them (through knowledge of the existence of a valid will and the death of the benefactor) and the executor is satisfied that the property in question will not be required to satisfy claims in the estate. Receipt of a legacy must be recognised when it is probable that it will be received and the fair value of the amount receivable, which will generally be the expected cash amount to be distributed to the Charity, can be reliably measured.
2.3 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.
Charitable activities and Governance costs are costs incurred on the charity's operations, including support costs and costs relating to the governance of the charity apportioned to charitable activities.
Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.
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WYE ECCLESIASTICAL CHARITIES
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
2. Accounting policies (continued)
2.3 Expenditure (continued)
All expenditure is inclusive of irrecoverable VAT.
2.4 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.
2.5 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.
2.6 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.
2.7 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.
2.8 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.
2.9 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.
2.10 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.
Investment income, gains and losses are allocated to the appropriate fund.
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WYE ECCLESIASTICAL CHARITIES
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
3. Investment income
| Unrestricted funds 2024 £ Cash on Deposit 2,354 CDBF/Luxmoore Trust 9,501 Global Equity Fund 4,036 Property Fund 1,435 Investment Fund 22,039 Total 2024 39,365 Total 2023 37,281 |
Total funds 2024 £ 2,354 9,501 4,036 1,435 22,039 39,365 37,281 |
Total funds 2023 £ 997 9,314 3,957 1,407 21,606 |
|---|---|---|
| 37,281 | ||
4. Analysis of expenditure on charitable activities Summary by fund type
| Direct costs Total 2023 Analysis of expenditure by activities Direct costs Total 2023 |
Activities undertaken directly 2024 £ 25,064 14,767 |
Un- restricted funds 2024 £ 27,758 17,434 Support costs 2024 £ 2,694 2,667 |
Total 2024 £ 27,758 17,434 Total funds 2024 £ 27,758 17,434 |
Total 2023 £ 17,434 |
|---|---|---|---|---|
| Total funds 2023 £ 17,434 |
||||
5. Analysis of expenditure by activities
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WYE ECCLESIASTICAL CHARITIES
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
5. Analysis of expenditure by activities (continued)
Analysis of direct costs
| Church insurance Various fabric repairs Sundry expenses Organ fund grant Total 2024 Analysis of support costs Clerk to the trustees honoraria Independent examiner's fees Total 2024 6. Independent examiner's remuneration Fees payable to the Charity's independent examiner for the independent examination of the Charity's annual accounts |
Total funds 2024 £ 7,598 16,714 202 550 25,064 Total funds 2024 £ 1,500 1,194 2,694 2024 £ 1,194 |
Total funds 2023 £ 7,393 7,208 166 - |
|---|---|---|
| 14,767 | ||
| Total funds 2023 £ 1,500 1,167 |
||
| 2,667 | ||
| 2023 £ 1,153 |
7. Trustees' remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2023 - £NIL) .
During the year ended 31 December 2024, no Trustee expenses have been incurred (2023 - £NIL) .
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WYE ECCLESIASTICAL CHARITIES
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
8. Fixed asset investments
| Cost or valuation At 1 January 2024 Revaluations At 31 December 2024 Net book value At 31 December 2024 At 31 December 2023 The market value of investments is represented by: The CBF Church of England Property Fund - income shares Investment Fund - income shares Global Equity Income Fund - income shares 9. Debtors Prepayments and accrued income 10. Creditors: Amounts falling due within one year Accruals and deferred income |
2024 £ 28,218 722,447 139,134 889,799 2024 £ 9,303 2024 £ 1,194 |
Other fixed asset investments £ 976,774 28,245 |
|---|---|---|
| 1,005,019 | ||
| 1,005,019 | ||
| 976,774 | ||
| 2023 £ 31,969 818,838 161,847 1,012,654 2023 £ 9,169 2023 £ 1,170 |
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WYE ECCLESIASTICAL CHARITIES
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
11. Financial instruments
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Financial assets | ||
| Financial assets measured at fair value through income and expenditure | 56,018 | 44,521 |
Financial assets measured at fair value through income and expenditure comprise of cash at bank and in hand.
12. Statement of funds
Statement of funds - current year
| Balance at | |||||
|---|---|---|---|---|---|
| Balance at 1 | 31 | ||||
| January | Gains/ | December | |||
| 2024 | Income | Expenditure | (Losses) | 2024 | |
| £ | £ | £ | £ | £ | |
| Unrestricted funds | |||||
| General funds | 52,520 | 39,365 | (27,758) | - | 64,127 |
| Endowment funds | |||||
| Capital fund | 976,774 | - | - | 28,245 | 1,005,019 |
| Total of funds | 1,029,294 | 39,365 | (27,758) | 28,245 | 1,069,146 |
| Statement of funds - prior year | |||||
| Balance at | |||||
| Balance at | 31 | ||||
| 1 January | Gains/ | December | |||
| 2023 | Income | Expenditure | (Losses) | 2023 | |
| £ | £ | £ | £ | £ | |
| Unrestricted funds | |||||
| 32,673 | 37,281 | (17,434) | - | 52,520 | |
| Endowment funds | |||||
| 889,799 | - | - | 86,975 | 976,774 | |
| Total of funds | 922,472 | 37,281 | (17,434) | 86,975 | 1,029,294 |
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WYE ECCLESIASTICAL CHARITIES
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
13. Summary of funds
Summary of funds - current year
| General funds Endowment funds |
Balance at 1 January 2024 £ 52,520 976,774 1,029,294 Balance at 1 January 2023 £ 32,673 889,799 922,472 |
Income £ 39,365 - 39,365 Income £ 37,281 - 37,281 |
Expenditure £ (27,758) - (27,758) Expenditure £ (17,434) - (17,434) |
Gains/ (Losses) £ - 28,245 28,245 Gains/ (Losses) £ - 86,975 86,975 |
Balance at 31 December 2024 £ 64,127 1,005,019 |
|---|---|---|---|---|---|
| 1,069,146 | |||||
| Balance at 31 December 2023 £ 52,520 976,774 |
|||||
| Summary of funds - prior year | |||||
| General funds Endowment funds |
|||||
| 1,029,294 |
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WYE ECCLESIASTICAL CHARITIES
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
14. Analysis of net assets between funds
Analysis of net assets between funds - current period
| Unrestricted funds 2024 £ Fixed asset investments - Current assets 65,321 Creditors due within one year (1,194) Total 64,127 |
Endowment funds 2024 £ 1,005,019 - - 1,005,019 |
Total funds 2024 £ 1,005,019 65,321 (1,194) 1,069,146 |
|---|---|---|
Analysis of net assets between funds - prior period
| Fixed asset investments Current assets Creditors due within one year Total |
Unrestricted funds 2023 £ - 53,690 (1,170) 52,520 |
Endowment funds 2023 £ 976,774 - - 976,774 |
Total funds 2023 £ 976,774 53,690 (1,170) 1,029,294 |
|---|---|---|---|
15. Related party transactions
In accordance with the constitution, the trustees of the charity are the Vicar and Church Wardens of the Parish of Wye and two other individuals nominated by the Wye Parochial Church Council (Wye PCC). Wye PCC is considered a related party.
The Charity's objective is to provide grants to Wye PCC. During the year, grants of £24,862 (2023: £14,601) were made.
The Charity has not entered into any other related party transaction during the year, nor are there any outstanding balances owing between related parties and the Charity at 31 December 2024 (2023: none).
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