CHARITY REGISTRATION NUMBER: 267047 The Suffolk Historic Churches Trust Unaudited financial statements 5 April 2022
The Suffolk Historic Churches Trust Flnanclal 8tatements Year ended 5 Aprll 2022 P•g•s Trusto8s' annual report Ito5 Independent examln&fs report to tho trustees 6t07 stalemanl ol Ilnanclal acllvi1108 Balance Sheet Notes lo Ihg financial 8tsl•menls 10t018
The Suffolk Historic Churches Trust Trustees, annual report Year ended S April 2022 The tW31ees present their report and the unaudited financial statements of Ihe charity for the year ended 5 April 2022. The financAal slalements have been ppared in accNdance with the accountsng polirAes set out in note8 to the accounts and cKJmply with the charitys goveming document. the Charities Act 2011 and Accounting and RePo"n9 by Charities.. Slalemenl of Re¢ommended Pra¢tl¢e applicable to charities preparing Iheir actx)un18 in accordance with the Financlal Reportlng Sland8rd 8ppllcabl& In thg UK and R8public of Ireland publi¥h8d in Octobgr 2019. Referen¢4 and admlnlstrnllve d•tsl R•gistor•d charity rnm• The Suffolk His11C Churches Trust Chrlty r¢gl•trIon number 287047 Prlnclpl offic• Brinkley$ Hill Street Long Melford Suffolk C010 9JR Th• tru•t••• Thg Iruslefjs who 8ONod durfng the year and al the dale of approval wero as follows.. Geoffrey Probert DL (Choirman) Dawd Klno IHonor8ry Tre88urar) Edward 81and The Hon Chados Bos¢awgn John Dev8ux DL Dawd Gould Loudon Greenlee8 (Appoinled 25107120221 Mary Luxmoore-styles Jamie Norman (Appointed 08111r20211 Nlchol88 Pearson OBE Tony Rodman Simon Ron8n Rachel Sloane Chrislopher Spicer Celia Stephons
The Suffolk Historic Churches Trust Trustees, annual report (conllnu8dl Year ended 5 Aprll 2022 Patron Clar Counlo#$ of Euslon, Lord Lieuten8nt of Suffolk Vlc• Patron• The Bishop of Easl Anglia The Bishop ol Sl Edmundsbury and Iywich The Moderator of Churches Together in Sufftjlk Vlc• Pr••ld•nt Alan Barker Ray Bedwell Martin Favell P8trick Grieve Lady Julia Hennikgr Dl8ng Hunt Chrlsllna van Mo9n Clbve Paine Robert Rous DL Simon Tennanl Roy Trickar BEM Robert Wllliams Mèry Wolton Hon S•cT•tary Jill Taylor A••l•t•nt S•cr•tsry H•lw R•4d Hon Tr•••ur•r Damd King Hon 8lke Rlde Trnasur•r DAvid Gould Hon OY•nts 8•¢r•tary Adrf8n Augu$l Hon Educattan Offlcef Diana Hunt DL Celia Stephens Hon Publlclty Offl¢•r R¥¢hel Slo8n• Soll¢ltorn 8irketts 226 Museum Street IP1 1HZ Ind•p•nd•nt •x•mln•r Leigh Thurston FCCA Lovewell Blak8 LLP ChArtefed accounlant8 Flr$l Floor Suite 2 Hi115ide Business Park Bury St Edmunds IP32 7EA Bank•r• Royal Bank of Scolland PLC 8-10 Princes Street Ipswch Suffolk IP1 1QT
The Suffolk Historic Churches Trust Trustees. annual report {eottJnu•dJ Year ended 5 Aprll 2022 ObJ•ctlv•s and •ctfvltt•• The ch8rit8ble purpose5 of th8 Trust are to appty the income and cawtsl of the Tntst to the presentsbon, repair, maintenance. improvgmgnt. upkeep, b88uliflcalion and COnStruCtion of churches In the County of Suflolk and of monuments, flttlnys. fixture5. Stained gla59. furniturg. omamgnls and chattels In such churches and ol the churchyard belonging 10 any sueh churches. 'fhurch" means any Church. Chapel or other buildings U88d foi publlc woishlp whether belonging to or used by th8 Church of England or any other religious botty. Grnnt m*klng policy and proc•dur•• Th¢ Charfly Invlte$ 8ppllc81ions for lundlng of prop¢ts from churches In Suffolk in 8 $pe¢ifio formal. Tho applications are rewewed again518pectfic cnlgrta by the Grants Committee who approve or refuse grants. The prolgcl performance is monrtoreij by the Grants Committ8&. Approved grants must be taken up wrthin o years of being awarded and are pald on recelpl of evidence that the project h85 b88n completed. A¢hl•vom•nts and p•rfornianc• In $hsping our obje¢llves for the yèar and plannlng our activities. the Tru8lee8 have considered the Chanty Commi$$ion'8 guidance on public benefiL The in¢omg ol Ihg Tw$1 1$ d&loiled in lh& Sl81om•nl of Financial A¢liw11•8 togèthèr with the supporting del8lls of Fund Ralslng Even18. 11 IS the alm of thè Trust lo dI81ribul8 811 of 11$ annu•l In¢omè nel of &xpansg$ by way of grants In ¥¢¢ordan¢¥ wilh Its ¢h4ritable purposes. All significant18gacie$ are used Io g$tsbllsh de$ignale<l fvnd$ which are Ir4nslerTed lo Ih? income fund equal annual arnounts over flve years unless they are ¢Jeslgnaled for a speclffic purpogt. Olh8r unrestricted legades. sums recebved In memDrl8m, substanllal donation5 and Friends. Ilfe donations are u•diled to tho Capital Fund, of which 33.30A ol the opening fund balance at the start ol each accounting year is transferred lo the Income fund ond avallBble for dlstrlbution. Det85ls of 011 other restrlcled and deslgnBted lunds are shown in noles to Ihe accounts. Tho ¢¥med forn¥ard unr•8tri¢t•d Income lund balanc• of £338,806 <2021.. £284,718118 availablo for dlslrfbullon.
The Suffolk Historic Churches Trust Trustees, annual reportf¢oniTnu•d) Year ended 5 Aprll 2022 Finan¢lal rnvhw Totsl InexJm8 in the year OAd8d S Apnl 2022 amountad to £308,43312021". £32fj.0141 down on the previous year with th8 main source of fund$ being £182,352 {2021". £172,484) rwsed frorn fundraising events, shar1 equally wrth parlicipaling churches. £125,80412021.' £152.394} was received from donations and legacies and £277 {2021'. £1.136) was ggn&ral8d fiom inv8slmgnts held. Grants awarded lo churches In th8 year lolalled £131,700 (2021.. £108,921). The grants awardéd along wRh the share of fundraising events paid to participating churches of £82,420 12021-. £79,212) made up the majonty of th$ total exp8ndrturo. After taklng Into account a galn on IVlM•nI. Inrne •xceoded gxpondlturo by £99,08412021.' £198,345). Ro8•vM• pollcy Within designated funds is a resem fvnd hèld for thè general purptsses of the Charty and for th& making of grants Sf for any rea50n fund ralslng events In any particularly year did not lake place. The reserves policy is Iherelore $¢1 10 o mlnlmum of one years income. Based on th8 Income acliwty of 2022 the amount held as designalgd gqUOtg5 lo a rfjservg poslion just over 24 monlhs which th8 Trustees consider lo be prud•nl In light of the context of th• current enmronment. The Trustees alm lo build the resery•s by Inllalion •a¢h year and lo •xpensg excess reserves inline wtth it8 alm and objectives in Ilrnes tsl ne•d. In the opSnlon of th• Trust3 th• 8urplu8 held over the re88rve8 policy 18 Iherètoro adeqyale lo the purposes of tha Charily. Invutment policy The Inve8lrn¥nl Commillee h98 consld•r8d th• m051 approprfale policy for inveBllng fvnd8 and has found that unll Iru8lB, some $pgGiflcBlly desSgned for the ch*ilty sect¢r, meet Ih•Sr roqulroments to 98ner8ie ¢ons•rvalivg capital growth. The inveslmenls of the Trust are MMOn Investment funds 3$ dèfin•d in charty legislation. Cash resources abovè Immediats working requirem&nl8 are d&po8iled wllh a comrnon dep0611 fund a$ defined in tho Somg Ad. Pl•n• for futur• porlod8 The Charity plans lo continu• to support th• sponsor•d cycle ride and olher fundraising •venl8 In lin• wth 118 4lm$ and obl•the¥. For the year ended 5 April 2023 the Charity 1$ $eoklng lo maxSmisg its income and capilal for the ongolno preservalion, repair, m8inlenan¢e, improv8m8nt, upkeep, beautification and recortrUction of ¢hurches in the County of Suffolk 8nd irf monuments, fittings, fixtures, stained gla55. fvmrture, omamenls an¢J ¢hattg1$ in $u¢h ¢hurche$ and of the churchyard belonging lo any such churches for which tha Trustaes consider to be an ongoSng and conslont prigrity year on year. The Tru51eeB have continued to IY)nsider the impact of the global pandemic, Cod-19 on the fun¢¥ and aGliwties of the Chartty and consider thg elfeci to bo minirnal and short tem. 111$ gXP&Ctèd these will ffuctuale post year 8ntJ, for whieh the Tfuslees wlll review and monrlor annually 8S Stated in the Investment policy.
The Suffolk Historic Churches Trust Trustoes. annual report (eonlthu•dJ Year ended 5 April 2022 Structurg. governance and managem•nt The Suffolk Hi3loric Churches TnJ$t was established by 8 trust d8ad dated 21 Decembér 1973. It is registered ¢h&rJty, numbor 287047. The Trust d&règi$lèr•d as an environmentsl body, number 020182, in Junè 2017. Th? Twsl 1$ govemed by the Trustee$ who m88t four tsmes 8 year 8nd 011 major policy declslons ara laken by Ih8m. Other rnatters are delègated lo the Bike Rlde Cornmiilee. the Grants Committee and the Investment Comrnitt88 a5 indicated by the committee tstles. The$e commrttee5 each meet around fourlimes a Yr. All mernbers of commltteg$ ara appointed by the Trustées. Most of the currenl Trnstees are very familiar wSlh the work of Ihe Ch8rily. hang sgrved for some Ume. Prospective Trusle&s are invited lo attend a Mling with the Chalrman to familiarise Ihem8&1v8$ With the Charlty and tha context within whi¢h rt OP8rate3. During this and the prior year the Tnjst employed an Assistant Se¢r8tsry ond paid for thèir office 8¢commodalion. All other offi¢•r8 are volunlear8. RS•k Manag•ment The Trustaes h3v& Qxamlned the major $lraleglc. buslnass and operational rlsks which the Charlty fws and confirm that $yslem$ have been establlshed to mth'gale these risks. Tn* Ind l•lr ov•rrld• The financial statements have beèn pr8p8red lo gl¥L• tt 'lruè and falf vlow and hava departed from tho Chantles (Accounts and Reports) Regulations 2008 only lo Ihe exlenl requlred lo provide a 'lru• and fair ew,. Th1$ doparture ha5 involved following the Accounting and Reporb'ng by Charities.. SIBlemènl of Re¢ommendgd Practice applicable to charities prepBnng their a¢¢ounts in accordance with Ihg Financial Reporting Standard appll¢gble In tho UK and R¢public of Ireland issued in Oclobor 2019 rather than th8 Accounting and Roporting by Charitie5: sl4l•m•nt of Recommended Prgctlc8 effective Irom 1 Aprll 2005 whlch ha$ $lnco been withdrawn. Ind•pond•nt examlner r•appolntm•nt A resolullon lo appoint Leigh Thurston FCCA of Lovwg11 Blake LLP #s Ind•p•nd•nt 8xAminer wlll ba proposad al the next Annual Ganeral Meeting. The Iru$lga8' annual repo truste by.. wa approved on ..A. e<.19%nd 8ign8d on beh&ll of tho board of ey Prob Chaimian DL
The Suffolk Historic Churches Trust Independent examiner's report to the ttse$ of The Suffolk Historic Churches Trust Year ended 5 April 2022 I report to the charity tnJ$le8s on my examlnation of the financial statemen15 of the tharity for the year ended 5 April 2022 which comprise the 5ts18rn8nl of financl81 activrties, balance sheet and the related notes. R•spon$lbllltlo8 and basil of report As th& charity5 tnjslees you 8re responsible for the prepèratlon of th8 financial statements In cordanCe wlth th& raquiremenls of the Charrti85 Acl 2011 I'the Acr}. I report in rasp8Ct of my examlnallon of tho charflS flnan¢lal sl81oment$ carrled out under 88Ction 145 of Ihe Act and in carrying out my examination I have followed all the appliooble Dlractlon8 given by the Charfty Commission under Sedon 146{61{bl of Iho Act. Independent •xamin•Vs stst•ment Since the charilys gro$¥ income excoet1ed £250,000 your oxBmlner must bg a mgmber of a body li¥led in 8ectlon 145 of Ihg 2011 Act. I confimi that l am quallfled to undèrtake Ihe examlnallon because l am a member ofthe Assodallon ol Chartered Certmed AcGounlants, whlch Is on• of thg listed bodies. I hava Completed my examin8tion. I conflm th81 no malerlal matters have come to my attention connectson wllh the examination 9iv¢ng mg cause lo believe that in any material rasp8Ct'. 4c¢ounlin9 ro¢ord6 W8r8 not k•pl in re$ped of th& chanty as r•qulffjd by s•etson 130 of th• Ad.. or tha flnanclal 8lalements do not accord wllh thoBg reoords- or the fin8n¢l81 stst8ment8 do not comply wilh the applicable requiromenls ¢on(*mlng tho form and conlenl of 8¢¢ounl$ 581 out in Ihe Charitio$ (Account5 and Reports) R8gulations 2008 othèr than any requifemenl Ihat the accoun18 glve a 'lrue and foirf vièw whlch Is nctl a maller consldered 88 pèri of an Indopendent examlnallon.
The Suffolk Historic Churches Trust Independent axaminor's report to the trustees of The Suffolk Historic Churches Trust(conllnu•dJ Yèar •nded 5 Aprll 2022 I have no concern5 and have corne across no other matters in connection with the examination to which attention should be drawn in thi5 leport In ordor to enablfj a proper understanding of the aOuntS to be reachad. Your 8ttenllon Is drawn lo the fact that the Charity ha5 prepared Ihe accounts (financial statemenlsl In accordance with Accounting and Reporting by Charities.. Statement of Rgcommand8d Practice applicable lo charth'es prep8rJng thoir accounts in accordance wrth Ihe Flnancial R8POtbng Standard applicable in the UK and Republic ol Ireland IFRS 1021 In preference lo the Accounting and Reporting by Chafities.. Statement of Rocommended Practice issued on 1 April 2005 which is referred lo In the extant ragulations bul h88 slnce b8en withdrawn. l undersland that th13 has been done in Ofd¥r for th• accounts to provide 8 INe and falr In accordance wrth Ihe Generally Accepted Accounting Practice effective lor reporting p8ri0ds beginning on or aftèr I January 2015. Lelgh Thurslon FCCA Ind&p¥nd•nt Examiner Lovow811 Blake LLP Chartered aecountsnls First Floor Sulle 2 Hillslde Buslne$$ Pa 8ury Sl Etamunds IP32 7EA 7 November 2023
The Suffolk Historlc Churches Trust Statement of financlal activities Year ended 5 April 2022 2022 Restrf¢led lunds Total fund¥ 2021 Unrestricled funds Total funds Not• Incomo and endowm•nts Donallons and legaues Fundral$Sng ¥v¢nts Inveslment in¢om• 125,804 99.636 242 125.804 182,352 277 1S2,394 172,484 1.136 326.014 82,716 35 Total Incom• 225.682 82,751 308.433 Expenditure Raising funds Costs ol ralslng lunds Charllable act111•5 5,368 148,073 5.368 230,493 235,661 2,813 202.049 204.862 82,420 Totsl •xp•ndltur• 153.441 82.420 Net Income and n•t movements In fund• bgforn glni And 10•••g on Inv•itm•nl• 72,241 331 72,572 121,152 Net gains on investmanls 26.512 26,512 77,193 N•t Incom• and twt movgmgnt In fund• 98,753 331 99,084 198,345 ROn¢111•110n of fund• Total ndS brought fofw8rd Totsl fvnth ¢arrl•d fornfard 871.480 970,233 109,833 110,1e4 981,313 1,080.397 782,968 981,313 The stolèment of finandal activlties indud83 all 9oln$ 8nd10$$•8 rKognl8•d In th8 year. All Inrne and expendllure derlve from contlnulng adivlties. Th nots¥ on pag•$ 10 to 18 forni part of the$0 flnanelal stat•m•nts.
The Suffolk Historic Churehes Trust Balance sheet S April 2022 2022 2021 Noto Flx•d as8•ts Tangibla fixed assets Inve51m8n15 13 14 303 385,950 353 361,683 386.253 362.036 Current •#•ts Debtors Cash at bank and in hand 11.992 708.777 809.048 809,048 720.769 CMdltor8: Amounts falllng due wlthln on• y•ar 16 (114,9041 {101.492) Net ¢urrènt a$sets 694.144 1,080.397 1,080,387 619.277 Tot1 a#iets1è81 current Ilabllltl•• 981.313 981,313 Net asuts Funds of th• ¢h*rity Reslricted funds Unrestsiclgd funds 110.104 970,233 1,080.397 109,833 871.480 981.313 Totsl charlty lund# 17 Thesè flnanelgl slalemen16 W8r8 approved by the boafd of trustees and authorised for issue on .k4.ul..., and ar& slgned on b$haWof th8 board by.. Geoffrey Probert DL Ch8im8n DAvid lfjng Honorary Tr90surgT The nots8 on p•gM 10 to 18 forni part ofth••e fin•n¢l•l $tst•monts.
The Suffolk Historic Churches Trust Notes to the flnanclal ststemonts Year ended 5 April 2022 G•n•ral inf0mtion The charity is a public benefit entity and a registered charity in Eng18nd and Wales and is unin¢orpor8t8d. The 8ddrgss of the printipal office is BrinW8ys, Hall Street, Long Melford. Suflolk. C0109JR. statement of compllanc• The charity con8lrtulo9 8 public benefit entity a5 d8fined by FRS 102. The financial slalemenls have been PTepared in accordance wrth Ac(¥)unling 8nd R&portlng by Charilies.. Stalemonl of R8eomm&nded Practice appli¢abl• lo ¢haritl•$ praparing their accounts In 8¢¢ord8nce wilh the Financial Reporting Standard applleable In the UK ond Republic of Irèland Issued in October 2019. the Flnancial Reporbng Standard applicable in the UnSted Kingdom and Republic of Ireland IFRS 102), the Charities Act 2011 and UK Generally Apted Accounting Pradice. Thtr fin8nclJl slalemenls have been prepared lo give a'lwe and fairf view and have dep8rtod from the Charitie8 (Accounts and R8ports} RegulaUon$ 2008 onty lo the extent required to provsda a 'lfue and lair vlew,. This departuro ha5 Involved following th& Accounting and Reporting by Charities.. Statement of Recommended Praelice applicable lo charities preparing their accounts in 8¢cordance with the Flnancial Reporlin9 Standard applicable in the UK and Republic of Ireland issued In October 2019 ralhtsr than the A¢¢ounts'ng and Roporting by Chnlleg.' Stalgm•nt of Rocommended Pracllco gffocts'vo from 1 Aprll 2005 whlch has since been wllhdlawn. Accountlng pollch• B••l• ol pr•parntlon The finand81 st8tgments have been prepared on the hi$lorical cost basis, as modifigd by the i¢valualion of rtaIn financial ats and118blllU&$ and Invaslmenl propertles m•asur•d at fair value Ihfough Incom8 or expenditure. The Ilnoncial 8tatsmenl8 are prepared In sterling. whlch Is the functlonal currency of the tty. Going ¢on¢•rn The accounts havè been prepared on th8 going concem basls and the Tmstee5 bellev8 that no mal8rlal uncertainlie8 exlst. The Trustees have consider•d Ihè lèvel of lunds held and the expeeled in¢oma and expenditure for the next 12 months frorn authorising thgsg financial 51alemonts. The budggled InM0 and exp8ndilur$ 1$ suffi¢ienl with Ih818vel ol reserve$ for tha charity lo be able lo contlnu• AS a going ¢on¢¢rn. In¢om• t#x Tho activities of The Suffolk Histori¢ Chur¢he$ Trust aTe exempl from United Kingdom Income and Corporation laxallon. provided th41 th8 Incomo 1$ appliad lo ch¥ritabl• purpos•s. Fund ccounlSng Unrestricted funds are available for use at the discreknon of the trustegs to further any of the rhonV$ purposes. Designated fvnd$ Are unieslncted funds earn8d by Ihe Iruslees for parttcular futur& proJe¢t or commllmenl. Restricted funds arg $ubj8cled lo reslrictlons on their expenditu dèdared by the donor or through the terms of an appeal, and fall into one of 3lFtrGlassÈS'. reslrfct8d income funds or 8ndMent furHI5. 10-
The Suffolk Historic Churches Trust Notes to the financlal statements (¢ontynu Year andod S April 2022 Accounting policie• {condnu•d) In£om• Atl Incoming resources are Induded in the stslement of financAal activrtie5 when enllllemenl has p8sset11o th& charlty,. It Is probable Ihal the economic benefits assoctated with the transacb'on wlll flow to th& charity and tha amount can be reliably measured. The foltowing specAfic policies arts applled to particular categories of Incomè. income from donatsons or grants is recognised when there is 9d0nce of 8nlthrnent lo the gfft, receipt is probable and Its amount can be measured reliably. IacY incom8 1$ recognised when roc•lpt 1$ probabla and enliuemenl 18 e8t8bll8hed. income from donated go¢)d$ 1$ maasured at the fair value of the goods unlass Ihis is Impradcal lo measu feligbly, In whlch ca8e Ihg value i¥ derived from Ihe cosl to the donor of the ostim81èd r8sal8 valuo Donated f¥cilitio$ ¥rtd 8&Nlcas af• r•cognised in Ihe a¢counl$ whèn received if the v8l¢Je can b& rellably measurgd. No amounts are Includ•d for tho oonlribulion of goneral volunloers. In¢om• from contr8ctg for the supply of 8eNce6 16 recognised with the dolivery of thg conlract•d semce. This Is clos$1flgd as ursreslncted funds unless there 1$ a Contractual r•quiromonl for il lo be 8pgnl on a partlcylar purpose and relumed if unspent, In whlch case 11 may be regardsd 08 re$lrfcted. Expgndltur• Lyp•ndilur• 1$ r•¢ogni8•d on An accruals ba8iS 8$ a li#bility 18 incurred. Exp8ndituro include$ any VAT which cannol be fully leCOVeTed, Ind 1$ d888ified under headlng$ of tho 8talemenl of flnanclal aclivili08 lo whlch il re181es'. expendllure on raI81ng fvnds includ8¥ the c0816 of all t)Jndral8lng octivilies, evgnts. non- horft8ble trodlng act111•8. and the 8818 of donated gogd•. expendliur8 on charitable actlvllies Indude8 all coslg incurrod by a charity in undtrrt¥king activib'es that further Its ¢haritsbla aims for the beneflt of Ils b&naficAaries, includinu those support cos15 and Costs relatjng lo th8 g0manCe of the ¢h8rity apportioned lo charltable atI&6. othèr èxpÈnditure includes 811 expenditure that l# neither rg18tgd to raislng funds for the charlty nor part of Ils exponditUTO on charil8ble ac¢iwUe$. All costs 8re allocated to exp8nditure ¢8legories feflecllng th8 use of the resour. Dlr•c¢ co8t8 ttribulable lo a $lngl8 activ¢ty are allo¢aled tJire¢lly lo that actiwty. Shared costs 8re apportioned belwean the aGtlvrties they contribute lo on a reasonable. justs"fiable and con81stont basis. Tanglbk a¥¥ets Tangible ag$8ts are initially recordtd at Cost, and sub6equ8nlly 8laled at ¢o$l less any accurnulaled deprgcialion and irnpalrm8nl10$$8s. Any tangible assets carried al valued amounts are recorded 8t Ihe falr value at the d8le of revaluation le53 any 8ubs8qU8nt accumulatèd d&prerJation and subsgqugnt ac(yJmulaled impairmant losses. Dopr•¢iation Depreclation Is calculated so as to wriie off the cost or valuation of an asset, less rt¥ rosidual value. over the useful econom5c life of that asset as folk)ws' Office equipment 25% Strah1 line 11
The Suffolk Historic Churches Trust Notes to the financlal statements i¢onilnu8d) Year ended 5 April 2022 Accountlng poll¢1 (¢onllrtu•dJ Inv•8tsn•nts Unlisted equity investments are inilialty reded at cost. and subsequently measur8(l al fair value. If fair value cannol be reliably m8asured, a55els are measur•d al cost less impalmenl. Lislad inv8slm8nts mèasured al fair value wilh ch8ngo$ In falr value beSng Te¢ogni$ad In incomè or exp8nditur8. Financial IMtrum•nts A flnan¢ial ass or a flnanclal liablllly is recognisèd onty when the enllty becomes 8 paty lo the radual provislons of the inBtwmenl. Basic ftnancial in$lrumgnts ar8 inrtialty r&cogni6ed al ihe amount receivable or payabla Induding ary lated tran5acllon costs, unless the arrangement constitu105 a financlng transaction, where Il Is recognised al lh• pr&$0nt valu• of th& fuLur• paymen18 discounted al o markel rale ol Int&r•sl for slmil*r debl inslrum•nt. Current assets and curr&nl liabilllles are subsequenlty measured at the cash or other Gon$idaralion expected to be paid or recelved and not d5$nted. Dgbt Instruments are $ub8equènUy maa8ured at 8mortl8ad c08t. Whore investments In shares or preference shares ar8 publirjy tr8d8d or their lair valve can otheTr¥18e be measured reliabty, th8 Inv8strn8nt is subsequently megsU al f8ir value with chang83 in fair valuo reeogriis•d in Incomè and expènditurè. All other 8uch investm•nls ar• subs•qLwnlly M•a8ur•d 81 ¢081 less Impairm8nl. Don•tlon$ and 109•¢1•• Unrestricted Tot•1 Fund• Unre31ricted Total Funds Fund8 2022 Funds 2021 DonatSoM Annu81 donation Glft ald redaimable Legacies and donallon8 In memodam 16,287 36,531 72.986 16.287 36.531 72,986 20.909 26.088 45,397 20.909 26.088 45,397 Grnnts Allchurch&8 Trust 80.OCQ 80,OC 125,804 125,804 152,394 152,394 Fundralslng •v•nts vnresfn.cted Funds Restricted Total Funds Funds 2022 Sponsored ¢yd• ride Pedal and drlv8 Yalda Davis concerts 82,716 15,729 1.191 82,716 165,432 15,n9 1.191 99.636 82,716 182,3S2 12-
The Suffolk Historic Churches Trust Notes to tho flnancial statements (¢onUnu Year endèd 5 April 2022 Fundral$lng •v•nts (conunuedj Unrgsln¢tod Fund$ Resth'cied Total Funds Funds 2021 Sponsofed cycle rid8 Pedal and drive Y8lda Davis tyJnc8rt8 79,212 13.736 324 79.212 158.424 13,736 324 93,272 79.212 172,484 Colts of raising funds Unreylnctsd Totsl Fund$ Unrestricted Total Funds Fund8 2022 Fund8 2021 Fundraslng expenses Publi¢rty, newsletters and leafio18 4.595 773 4.59S 773 2.219 2,219 5.388 5.368 2,813 2.813 Expendlthre on charltabl• actlvStl•s Unrestrlcted Funds Reslrfcted Totsl Fund# Funds 2022 Sh8rg of fundralsing evenl paid to pafuclpaung churches Grants awarded lo churthes Support cDsl$ 82.420 82,420 131,700 16,373 230.493 131,700 18.373 148.073 82.420 Unrestricted Fund$ Ra81ricted Total Funds Fund8 2021 Sh8re of fundraising event paid lo partidpaling churtho8 Gran16 awafdod lo churchos Support costs 79,212 79,212 108,921 13,916 108,921 13,916 122.837 79,212 202,049 Analyo5• of support co•ts 2022 2021 Salary Heal and11ghl Rent and rates Insurance Oiher office costs Deprecation ¢hargè Independent examlnallon fee 8.231 221 1,976 947 4.367 1.807 889 3.072 51 1,702 13,916 2,466 16,373 -13-
The Suffolk Historlc Churches Trust Notas to tho flnancial statements fconllnuedj Year ended 5 April 2022 N•t galM on Inv•¥tm•nts Unrestrictod Total Fund$ Unreslricted Totsl Funds Funds 2022 Funds 2021 Gainsloossesl on investments 26,512 26.512 77.193 77,193 10. N•t Sncom• Nel income is stsled aft81 chargIn(editIng)'. 2022 Depreclallon of18nglble flxed as$0ts 51 11. Stsff 2022 2021 Wago9 and yalaries 8,231 The average head count of ernoYe•s during tha year wo8 1 12021.. 11. No 6mployoe rece•d employee b¢nèfl18 of morè than £60,000 durfng th& yg8r12021.. £NII). 12. Tru•tse remun•r•tlon and •xynge8 No remuneraknon was paid by thè Trust to 8ny Trustee dudng th8 year. One Truslee reodved imburBed expen$g8 during the ytrai lolallin9 £1.13012021'. On• Trustee £313). 13. T•nglbl• flx•d 8u•ts aqulpm•nt Cost At 6 Aprfl 2021 •nd 5 Aprll 2022 Depreeiatlon At 6 April 2021 Charge for Ihg ygar At S Aprll 2022 Carrylng amount At S Aprfl 2022 Al 5 Aprll 2021 4.802 4.449 50 4,499 303 353 14-
The Suffolk Historlc Churches Trust Notss to the financial statements (continued) Year ended 5 Aprll 2022 14. Inveslmènts Llsted inv•$tmènts CMt or valuatlon Al 6 April 2021 Additions Fair value movements Transfers 361.683 26.512 (2,2451 385,950 At S Aprll 2022 Impalmient At 6 Aprll 2021 •nd 6 Aprll 2022 Carrylng amou At 5 Aprll 2022 Al S April 2021 385.950 361,683 All Investments shown above 8r8 h91d al vèlualion. Fln•nclal ••••ts held at falr ¥*lu• Investments arè staled al market value on tho 18St d8y of each finoncial year. Gain¥ and losses on dlsposal and revaluation are edited or Charged to the Slalement ¢)f Financial Actwti8S. 15. D•btor• 2022 2021 Trado deblors 11,992 16. Cr•dltor4: Amounts falllng du• wlthln on• yr 2022 2021 Trade ¢Tgdltor8 Accruals and deferred income 112,450 2.454 114,904 99,5CIJ 1,992 101.492 15-
The Suffolk Historlc Churches Trust Notss to the financial statements (Mnllftue Year ended 5 April 2022 17. Ana1$ of charitabl• fund* Year ond•d 5 Aprll 2022 Re¥trict•d fund• At 6 April Nat incomel 2021 (expendilur¢l Gains and 1108se81 At 5 Aprfl 2022 Transfers James Mair Legacy Fund 109,833 331 110.164 De•lgn•t•d lund• At 8 Aprfl Nèl incom•1 2021 lexpendilure) Gains and Ilossesl At 5 April 2022 Transfers C8pJial Fun¥J Reserves Fund Alarni Fund 158,500 361.683 68,579 566.782 72.988 (52,8331 178.653 388,195 66,$79 633,427 26.512 72,988 26.S12 152,6331 UnMtrl¢tsd fund• Al 8 Aprll Not Sn¢omel 2021 lexpandSlurel Ggln$ and (Ioss881 Al 5 April 2022 Transfèr8 Incomg Fund 284,718 (7451 52,833 336,8C6 Y•ar end•d S Aprtl 2021 Rtricted fund• At 6 Aprfl Nel Ineomel 2020 lexpandilure) Galns ond Iloss8sl At 5 AprN 2021 Transfors J4mg¥ Mair Leg8w Fund 109.559 274 109.833 D•slgnat•d funds Al 6 April Nèl Incorn81 2020 {expendilure} Gain8 and {10sse31 Al 5 April 2021 Transfern Capital Fund Reserv83 Fund Alarm Fund 94,654 334,490 22,000 451,144 45,397 18,449 150,000) 158.500 381,883 66,579 586,782 77.193 44,579 89,978 77,193 {31,551) Unr•striet•d fund8 At 6 April Net Incomel 2020 lexpendibJr•l Gain$ and (tosses) At 5 Aprll 2021 Transfers Income Fund 222.285 30.902 31.551 284,718 The James Mair Legacy Fund is restiicted as investment capital, Ihe Inle${ of which is to be applied primorily for Ihe fabdc of the thurches al Bacion. Wyverslone and Cotton. If the income In any ten year perlod exceeds Ihe aclual or foreseen gxpendlture then any $uiplus may ba ITansf8rr8d to tho TrusV$ Income Fund. 18-
The Suffolk Historic Churches Trust Notes to th8 financlal ststements Year èndad S April 2022 The Capital Fund was established in 20010. All unre$ln"ded legacies whith have not been dèsignatad. sum$ rtrcetved in memoriarn. donatsons in excess of £1.000 and Frl&nds' 15f& donatlons are credlted to the Capital Fund. Each year 33.3% 120% piior io 5 April 20141 of the opening fund balance will be transferred lo th& In¢orne Fund and will be available for gfanl making. al the discretion of the Trustees. The Reserve Fund is the result of 5peclfic fund-raising in èarlièr years and il 18 the alm of thg Trust that the fund should in¢roaso al Ihg rote of Snflotion &ach year. The fvnd Is available for the general purposes of ihe tru51 and for the making of grants if lor any r&ason fund ral$ln9 &venis in any particular y8ar did not tak8 placo. Ajarn Fund is an axtr8mely successful, Charity-wn. Cèmpoign to grant funds lo Churches in Suffojk lo provide root alamis in answer to a upsurgè in lèad thèfts In provlous years. However, ther¢ were a number of Church83 whlch did not seek fundlng and did not lake part in this initial fundin9 round and remaingd al risk of lead theft. There has now been a second wave of18ad theft and Ihg Charity has responded by starting a second phasg of Alami grants supported by a $ullable separalt lund. This wa5 started in 2019120 and received an initial grant of £25.000 from thg Lord Belslead Trust. Furth•r funding has been recefved In 2020121 and granis will be made for alarrn$ to proleGI more Churche$ in Suffolk In the year3 ahead. 18. Analy•l• ol nèt a*••t• b•tr••n funds As at S Apnl 2022 Unr•$lrt¢lad D•sl9naled Funds Fund6 R¢slrl¢led Total Funds Funds 2022 Tangible Flxed Assets Inve$lm&nl$ N•t curyenl 303 303 385,9SO 694.144 385,950 247,477 336,503 110.164 N•t •èts 336,8C6 633.427 110,164 1.080,397 As al 5 April 2021 Unrè81rfcled De$lgnaled Fund8 Fund8 R&8lrfclèd Total Funds Fund8 2021 Tangible Fixed Ass815 Inveslmgnt$ Nèt currant assets 353 361.683 22S.079 361.683 619,277 284.365 109,833 N•t A81•ts 284,718 586.762 109,833 981.313 19. Flnanclal Instrum•nts 2022 2021 The ¢arrySng amount of financi81 in3lrumenls at 5 April 2022 We.. Flnanclal assets measud 81 f8ir value.. Investments 385,950 361.883 17-
The Suffolk Historic Churches Trust Notss to the financial statements {condnu Year ondod 6 April 2022 20. Related partios There have baon no related party transactlons In this or th8 prnmous r8porting year. 18-