CHARITY REGISTRATION NUMBER: 267047
The Suffolk Historic Churches Trust
Unaudited financial statements
5 April 2024

The Suffolk Historic Churches Trust
Financial statements
Year ended 5 April 2024
Page
Trustèes, annual report
Independent examinerfs report to (he Tnjstees
Slalernent of financial activities
Balance sheet
10
Notes to thé fin8ncial staternents

The Suffolk Historic Churches Trust
Trustees, annual report
Year ended 5 April 2024
Th6 Trustèes present their report and the unaudit8d financial statamants of Th8 Suffolk Historic Churches
Trust Ithe 'Ch8rityl foi the year ended 5 April 2024.
The financial statements have been prepared in accordance with Ihe accounting policies set out in notes lo
the financial statements and comply with the Charity's goveming document, the Chaiities Act 2011 and
Accounling and Reporting by Chsrities.. Statement of Recommended Practice applicable to charities
pr8paring thèir fin8nC181 statement5 in accordance wth the Financial Reporting Standard applicable in the UK
and Republic of Ireland published in October 2019.
R•ference and admlnlstratlva dotalls
R•glstèrèd Charlty name
The Suffolk Historic Churches Trust
Charity registration numbèr
267047
Prlnclpal offiee
Biinkleys
H811 Str8èt
Long Meword
Suffolk
C0109JR
The Trustegs
The Trustees who served during thè yÈ8r and 8t thè datè ol 8pprova5 wert as follows..
Geoffrey Probert DL (Chairman)
David King (Honorary Treasurer)
The Hon Charfes Boscawen
John Dèv8ux DL
David Gould
Ltsudon Greenl8$S
Mary Luxmoore4tyles
Jamie Norman
Nicholas Pearson OBE
Tony Redman
Simon Ronan
Rachel Sloanè
Sesi Turnbull (Appointed 17110120231
Edward Bland (Rèsigned 15107120241
Christophor Spicer IResigned 22101120241
Celia Stephens (Resigned 22101120241

The Suffolk Historic Churches Trust
Trustees. annual report (¢gntlnued)
Year ended 5 April 2024
Patron
Clare Countess of Euston, Lord Lieutenant of Suffolk
Vlce Patrons
The Bishop of East Anglia
The Bishop of St Edrnundsbury and Ipswich
Vice Presidents
Alan Barker
Ray Bedwell
Martin Favell
Judith Foord
Patrick Grigve
Lady Julia Henniker
Diana Hunt
Christina van Melzen
Clive P8ir16
Robert Rous DL
Simon Tennant
Roy Tricker BEM
Robert Williams
Mary Wolton
Hon S•cr8tary
Jill Taylor
Asslstant Sécr•tary
Helen Read
Hon Treasurer
David King
Hon Blk• Rlde Trèasur•r
David Gould
Hon Grants Secretary
Adrian August
Horh Education Officer
Jamie Norman
Hon Publlclty Officer
Rachel Sloane
Sollcltors
Birketls
24-26 Musaum Str8$t
Ipswich
IP1 1HZ

The Suffolk Historic Churches Trust
Trustees. annual report (¢onllnu6d)
Year ended 5 April 2024
Independent examlner
Laigh Thurston FCCA
Lovèwell Blake LLP
Chartèrèd 8ccountsnts
First Floor Suite
2 Hillside Business Park
8ury St Edmunds
IP32 7EA
Bankèrs
Royal Bank of Scotland PLC
8-10 Prince5 Street
Ipswich
Suffolk
IP1 1QT
CAF Bank Limited
25 Kings Hill Avenue
Kings Hill
West Malling
Kent
ME19 4JQ

The Suffolk Historic Churches Trust
Trustees. annual report (¢ontlnued)
Year ended S April 2024
ObJectiv•s and a¢tivltles
The Charity's stated objectives per the Trust Deed are to apply the Income and capital of the Trust to the
preservation, repair, maintenance, improvèmant, upkèèp, baautification and reconstruetion of churches in the
County of Suffolk and of monutllent5, fittings, fixtures, stained glass, furniture. ornamenis and chattels in such
hurches and of the churfjhyard belonging lo any such churches. "Church" means any Church, Chapel or
other buildings used for public worship whether belonging lo or used by the Church of England or any other
religious body.
The Trustees have considered the Charlty Commission's guidance on public benefit when setting the
objectives for the year.
The Trustees confirm that they have complied with the duty in section 4 of the Charities Act 2011.
Grant maklng po15cy and procadur•s
The Charity invites applications for funding of projects from churches in Suffolk in a specrfic format. The
applicatit>ns are reviewed against specific ¢riteria by the Grants Committee who approve or refuse grants.
The project perf0rrnan￿ is monitored by the Grants Committee. Approved grants must be takèn up within
two years of being awarded and are paid on receipt of evidence that the project has bèen compl&tèd.
Achievements and perfomianco
In shaping our objectivès ftrr th8 yéar and planning our activitiès, th8 Trust88s have Considered the Charily
Commls5ion's guidance on public benefit.
The income of the Trust is detailed in the Siatemenl of Financial Activities together w4th the supporting details
of Fund Raising Events. It is the aim of the Trust to act as a long tem) distributor of grants in accordanc8 with
its charitable purposes.
Atl significant lègaciès aTè US8d tts *st8blish dèsignated funds which are transferred to the income fund sn
8qual annual affltsunts over five years unless they are designated for a specific purpose. Other un￿strIcted
lèga¢itrs, Sums received in mernoriam, substantial donation5 and Friends. life donations are credited to the
Capital Fund. of which 33.3V/o of the opening fund balance at the start of each accounting year is transferrèd
to the in¢ome fund and available for distribution. Details of all other restricted and designated funds 8ra shown
in notes to the accounts.

The Suffolk Historic Churches Trust
Trustees, annual report {¢onllnued)
Year ended 5 April 2024
Financial review
The year ended 5 April 2024 was an exception81 year lor the TKUSt. The Trustees set out to mark our 50th
anniv9rsary by boosting awareness of the Trust's activities and stepping up our annual fund raising.
summer garden party in May 2023 at whlch Rick Wakeman played and Griff Rhys Jones m8d8 a vidèo appeal.
raised a gross £33,500 and diew in many new supporters. The Trust's nehvork of volunteer bike-ride
organisers rose to the Challenge of making this an exceplional year and the joint 'Ride & Stride. and sister
'Pedal & Drive. car rally raised a record £215.000 in one day with half of the bike ride monies going straight
to the churches nominated by the cyclists. The 50 anniversary celebrations We￿ concluded by a multi-
d8nominational Service of Thanksgiving at St Edmundsbury Galhedral to which every church and chapel i
SLrfftslk wÈrè invited lo send representatives - over 600 allended,. the Bishop of St Edtnundsbury & Ipswich
preached and the Roman Catholic Bishop ol East Anglia joined in the Blessing.
Together with some very generous donations and legacies Ihe Trust's income rose to a record £386.543
12023.. £254,153) which in turn has allowed the Tru5t8es to dèclds to step up their grant-giving in 2025.
Grants awarded to churehes in the year totalled £1 $0.60012023.' £260.051 which includes £152,000 of Queen
Elizabeth 11 Platinum Jubilee grants). The grants awarded along with the share of fundraising events paid lo
participating churches of 286,91112023.. £70,486) made up the majority of the lolal expenditure.
After taking into account a gain12023.' lossl on itwestments, Income exceeded expenditure by £172,406
12023." expenditure exceeded income by £209,454). This resulted in total funds Carried for the year increased
to £1,043,34912023.. £870,943).
Reserves poli¢y
Within designated funds 15 a reserve fund held for the general purposes ol the Charity and for the making of
grants il for any reason fund raising events in any particularly year did not take place. The reserves policy is
therefore set to a minimum of one ye8r's income. Based on the ineome activity of 2024 the amount held as
designated equates to a reserve position just over 24 months which the Tnjstees Consider to be prudent in
light of the context ol the current environment.
The Trustees aim to build the reserves by inflation each year and to expense exces5 re5ervÈs Inline wth its
airn and objectives in limes ol need. In the tspinion of the Trustees the surplus held in excess of the reserves
policy is therefore adequate to the purposes of the Charity.
Invèstment policy
Tha Flnanca Committee has considered the most appropriate policy for investing funds and has found that
unil trLJSts, some specifically designed lor the charity sector, meet their requirements to generate conservatlV8
capital growth. The Finance Committee appointed CCLA lo manage lis ongoing investments.
The investrnents of the Trust are Common investment funds as defined in charity legislation. Cash resources
above immediate working requirements are deposited with a common deposit fund as defined in the same
Act.
Plans for futurè pèriods
The Charity plans lo Gontinue to support the sponsored cycle rid8 and other fundraising evènts in Ilnè with its
aims and objectives.
For the year ended 5 April 2025 the Charity is seeking to maximise its income and ¢apit81 lor the ongoing
preservation, repair, maintenance. improvetllent. upkeep, beautification and reconstruction of churches in the
County of Suffolk and of monuments. fittings, fixtures, stsined glass, lumiture, ornaments and chattels in such
churches and ol the churchyard belonging to any such churches for which the Trustees consider to be an
ongoing and constant priority year on year.

The Suffolk Historic Churches Trust
Trustees. annual r¥pDrt IcontlnueLI)
Year ended 5 April 2024
StsuctLtre, 9ovemance and m4rsa9em?nt
The Suffolk Historic Chur￿he5 Trust was established tsy a Trust deed dated 21 December 1973. It is
regl$tered Charity. number 267047. The Trust de-regi5tered as an en￿ronMents1 body. number 020182, In
June 2017.
The Trust is governcd by Ihe Trustees who meet four time5 8 year and all major policy decisions are tsken
by th8m. Other matters are delesateo to the Bike Ride Cixnmitiee, th8 Gran15 Commillee ènd Ihe Finance
Comrfjiitee as indicated by the cofflmittee titles. These CDrnmitl¢es earh rneEI around four tlmè$ a year. Al
member$ of cornmittee5 are appointed by Ihe Trustees.
Mosf of the currenl Twstee5 ale very tsmiliar with tha work of the Charity, having served for some time.
Prospective new TnJsiees are Invlled lo attend a m8eting wilh the Chairman tD familiarise themselves with
the Gh?riiy and th8 conlextwithin which il operates.
During this and the prior year the Trust 8rnployed an A5SiSt8nt Secret8ry and pald for their office
accommodaiioA. All other offlcers ere volunteers.
F￿Sk M8nagement
The Tfuslee5 h8ve consldered the m8lor stratpgic. bustnB55 and operauond rlsks which the Charfty lacES
and confirm that syslems have b8en 08t8bllshed to mitigate these ftsks.
TN$ and falr overrlde
The finoncial 5talem8nts h2ve been prep8red to glve a -tru8 and falf vl8W 2nd have departed from the
Charities (Accounts and Reports) Regulations 2008 only lo the exient required to proiride 8 'true and fair
view,. Thls departure has inwDlved following the Accounting 8nd Reporting by Charities. St8lement of
RecommBndBd PrJ#tice applicable 10 charities preparing their finsncial stalemEnls in accordance wlth the
Flnanti81 Reporting S18ndaid ipplic8ble in the UK and Republic cf Ir81and issued in Oclober201g rather than
the A¢¢ounling and Reporting by ChaFits'8s.' Slatement ol R8commenOed Practice eff2cliv2 from 1 April 2005
which has since been withdrawn.
Independent oxamlner ieappointmènt
A resolution lo appoint Loigh Thurslon FCCA of Lovaw811 Blake LLP è6 indeFendÈnt exarnin&r will be
proposed al th& nexl Annual Genaral Meetlng.
The TnJs*e$' annual report was approved on
Trustee5 by".
and slgned on bohalf of the board of
Geoffr8y Probert DL
Chairman

The Suffolk Historic Churches Trust
Independent examiner's report to the Trustees of The Suffolk Historic
Churches Trust
Year ended 5 April 2024
I reportto the Charily Trustees or? tny examination of the financial slaternents of the Charity forlhe year ended
5 April 2024 whi¢h Comprise the slalement of financial activities, balance sheet and the related notes.
Responslbllltles and basls of report
As the Charity's Trustees you are responslble for thè pr8paration ol the financial statements in accordance
with the requirements of the Charities A¢1 20111'lhe Act'i.
I report in respect of my examination of the Charity's financial statements earried out under section 145 of the
Act and in carrying out rny examination I have followed all the applicable Directions given by thè Charity
Commission under section 14515llbl of the Act.
Ind8p•ndènt oxamlno*s statemènt
Since the Charity's gross income exceeded £250,000 your examiner must be a member of a body listed in
section 145 of the 2011 Act. I confirm that l am qualified to undertake the examination because l am a member
ol the AssocAation of Chartered Certified Accountants, which is one of the list8d b¢)dies.
I have complÉtéd my examination. I confirm that no material matters have come lo my attention in connection
with the examination giving me ¢ause to believe that in any material respect..
accounting records were not kept in respect of the Charily as required by section 130 (rf thè Act-
or
the finaneial statements do not accord with those records., or
the financial stalernents do not comply with the applicable requirements concerning the form and
content of accounts set out in the Charities (Accounts and Reportsl Regulations 2008 other than
any requirement that the financial statements give a 'true and fair. wew which is not a matter
considered as part ol an independent Èxamination.

The Suffolk Historic Churches Trust
Independent examiner's report to the Trustees of The Suffolk Historic
Churches Trust l¢onUFJuerll
Year ended 5 April 2024
I have no concems and h3V8 eomè across no other mhtters In connection with thè 8xamination to which
attention should bè drawn in thls rèport in ordèr to Ènablè a propèr undèrstanding of thè financlal statements
to be reach&d.
Your allenlion is drawn lo the fact that the Charity has prepared the financial statements in accordancB with
Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities
preparing their accounts in aceordance wlth the Flnanclal Reporting Standard appllcable in the UK and
R8publi¢ of Ireland IFRS 1021 in prefsrèncè to thè Accounting and Rèporting by ChaTltlgs.' Statement of
Recommended Practice issued on 1 April 2005 whiGh is relerred to in the extant rogulation5 but has since
been withdrawn.
l understsnd that this ha3 been done in order for the financial statements to Provide a true and fair view In
accordanc8 with lh8 Generally Accepted Accounting Pracllce effective for reportlng periods beginning on or
after 1 January 2015.
Leigh Thurston FCCA
Independent Exarniner
Lovewell Blake LLP
Chartered accountants
First Floor Sufce
2 Hillside Business Park
Bury Sl Edmunds
IP32 7EA

The Suffolk Historic Churches Trust
statement of financial activities
Year ended 5 April 2024
2024
Restricted
funds Total funds
2023
Unreslricled
funds
Total funds
Notè
Income and endowments
Donations and legacies
Fundraising events
Invèstmènt Incom8
127.213
132,926
24,146
12.960
86,798
2,500
140.173
219.724
26,646
87,458
163,649
3,046
Total income
284,285
102.258
386,543
254,153
ExpenditUTe
Raising funds
Costs of raising funds
Charitable activities
12,843
170.645
12,843
255.993
10,137
447,745
85.348
Total expenditure
183,488
85.348
268,836
457,882
Net incomellexpenditurel and net
movernents in funds before galns and
losses on investments
100.797
16,910
117,707
1203,7291
Net gainslllossesl on investments
54,699
54.699
15,7251
Net incomellexpenditurel and net
movement in funds
155,496
16,910
172,406
1209,4541
Reconciliation of funds
Total funds brought forward
Totsl funds e3rriÈd forward
770.921
100,022
870,943
1,080,397
926.417
116,932
1,043.349
870,943
The statement of financial activities inclLJdès all gains and losses recognised in the year.
All income and expenditure derlve from continuing activities.
The notes on pages 11 to 19 form part of these firhancial statement5.

The Suffolk Historic Churches Trust
Balance sheet
5 April 2024
2024
2023
Note
Flxed o$sets
Tangiblo fixed asse15
Inveslrnents
13
14
377
892,351
892.728
575
382.009
382.584
Current assets
Cash at bank and in hand
388.052
843.028
Credltor5= knounts falling due wlthln
otse yeHr
1237,4311
(354,6691
Net ¢urrent 88s0ts
150,621
1,043.349
1,043.349
488,359
Total a$s8ts le$8 currtrnt Ilobllltles
870,943
Net 4$s&ts
870,943
Funds of the Charlty
Restricted funds
Unrgstricte¢ funds
118.932
928,417
100,022
770,921
870,943
rDt•l Charty funds
16
1,043.349
These fin8n
al ststemenls were apprgveol by the board ol Trustees and aulhorfsod for Issue on
and ar? signed on behglf vflhe board by".
G80ffrey Probert DL
Chairman
Da￿d Klno
Honorary Treasurer
The not8% on pages 11 to 19 form part of thÈs$ fjnanG¢aS statements.

The Suffolk Historic Churches Trust
Notes to the financial statements
Year ended 5 Aprll 2024
General information
The Charity is a public benefit entity and B registered charity in England 8nd Wales and is
unlncorporated. The addr9$8 ol th¥ pr*n¢ip81 office is Brinkleys, Hall Street, Long Melford, Suffolk, C010
gJR.
statement of compliance
The Charity constitutes a public benefit entity as defined by FRS 102. The financial slalements have
been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended
Practice applicablè to charities preparing their finan¢i81 statements in accordance with the Financial
Rèporting Standard applicable in the UK and Republic of Ireland issued in October 2019, the Financial
R9PQrting Standard applicable in the United Kingdom and Republic of Ireland {FRS 1021, thè Charities
A¢1 2011 and UK Generally Accepted Accounting Practice.
The financial statements hava bèèn pr8par8d to give 8 'true and fairf view and have departed from the
Charities IAccounts and R@port51 Regulation5 2008 only lo the extent required to provide a 'lrue and
fair view,. This d8parture has involved following the Accounting and Reporting by Charitiès.. Statèrn8nt
of Recommended Practice applicable to charities preparing their financial statements in 8ccordan¢e
with the Financial Reporting Standard applicable in the UK and Republic of Ireland iSSLJed in October
2019 rather than the Accounting and Reportlng by Charities.. Statement of Recommended Pracb'ce
effective from 1 April 2005 which has since been wlthdrawn.
Accounting policlg5
Basis of preparation
The financial statements have been prepared On the histtsrical cost basis. as modified by the revaluatlon
ol certain financial assets and liabilities and investrnent properties measured at fair value thrtsugh
income or expendlture.
The financial statements are Prepared in sterfing, which is the functional currency of the entity.
Going concern
The financial statements have been prepared on the goin9 concem basis and the Trustees believe that
no matèrial uncertaintiès Èxist. Th8 T￿sle&S have Considered the level of funds held and the expect8d
inctsmè and exp8nditur8 for the next 12 months from authorising these financial statements. The
budgatéd income and expenditure is sufficient with the level of reserves for the Charity to be able to
ontinue as a goir)g concem.
Incc*me tax
The activities ol The Suffolk Historic Church85 Trust are Exempt from United Kingdom Incorne and
Corporation taxation, provided that the ineom8 Is applied to charitable purposes.
Fund accounting
Unrestricted funds are available for use at the discretion of the Trustees to further any of thè charity's
purposes.
Designated funds are unrestricted funds eamiaiked by the Trustees for particular future project or
commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the
terms ol an appeal, and fall into onè of two 5ub-olas5es'. r8Stricted incorne funds or endowment funds.
11

The Suffolk Historic Churches Trust
Notes to the financial statements (conllftuedj
Year ended 5 April 2024
A¢¢ounting polieias (COnlAnued)
Income
All Incomlng resources are included in the ststemènt ol financial activities when enliUÈm6nt has passèd
to the Charily,. IL is piobable that Ihe economi¢ benefits associated with the tran5aclion will flow lo the
Charity and the amount can be reliably measured. The lollowing specific policies are applied lo particular
categories of in¢ome=
income from donations or grants Is Tecognised when there 15 evidence of entitlèment tr> th¢ gift,
recgipt Is probable and its amount can be measured rèliably.
legacy income is rècognised when receipt is probable and entitlement is established.
in¢ome from donated goods is measured at the fair value of the goods unless this is impraclieal to
measure reli8bly. in which case the value is derived from the cost to the donor or the estimaled
resale value. Donated faciliti.es and services are recognised in the financial stalements when
received il the value can be reliably measU￿d. No amounts 8Te in¢lLJded lor the contrlbution of
general volunteers.
income from contracts for the supply of services is recognised with the delivery of the contracted
service. This is classrfied as unrestricted funds unless there 15 a contractual requirement for it to
be spent on a particular purpose and returned if unspent. in which casè it may be regarded as
restricted.
Expenditur•
Expenditure is reeognised on an accruals basis as a liability is incurred. Expendilure includes any VAT
which cannot be fully reooverèd, and is classified under headings of the statèment ol financial activities
to which it relates..
expenditure on raising funds includes the costs of all fundraising activities, 8V8nts, non-ch8rStablè
trading activlties, and the sale of donated goods.
expenditure charitable activities includes 811 costs Incurrèd by a charity in undertaking activities
that further its charitable aims for the benefit ol its beneficiaries. including those 5UPPOrt costs and
costs Telating lo the governance of th8 Charity apportioned to charitable activities.
other expenditure includes all expenditure that is nèithèr rèlated to raising funds for the Charity
nor pari of it5 expenditure on charitable activities.
All costs are allocated to exp8nditUTe categories reflecting the use ol thè rèsource. Direct costs
attributable to a single activity arg allocated directly to that activily. Shared costs are apportioned
between the activities they contribute lo on 8 reasonable, justifiable and consistent ba51S.
T•ngible assets
Tangible assets are initially rècorded at cost, and subsequently stated at cost less any accumulated
depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at
the lair value at the dale of revaluation less any subsequent accumulated deprecialion and subseqLient
accumulated impairment Ioss85.
Doprèelatlon
Deprèciation is calculated so a8 lo write off the cost or valuation ol an asset, less its resldual value, over
the useful economic life of that asset as follows..
Office equipment
25 /0 Straight line
12

The Suffolk Historic Churches Trust
Notes to the financial statements (continuedj
Year ended 5 Aprll 2024
Accounting policies l¢ontlnuod}
Inv•stmenls
Unlisl&d equity investmants ar6 initially recorded at cost. and subsequently measurèd at lair value. If
fair value Cannot be reliably m88sured, assèts are measured at cost less impairment.
Listed investments are measured al fair value with changes in fair valuè being recognised in income or
gxpenditure.
Financial in$truments
A financial asset or a finoncial liability is recognised only when the entity become5 a party to the
contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount r￿e1Vable Of payable includlng any
related trarisaction Gosts, unless the atrangemenl constitutes a financing tran58Ction, where it Is
recognised at Ihe present value of the future payments discounted at a markel rate of Interest for a
similar debt inslrurnent.
Currant assets and current liabilities are subsequently measured at the cash or other consideralion
&xpacted to be paid or recelved and not discounted.
Debt instrumtrnts are subsequendy measured at amortised cost.
Where investments in shares or preference shares are publicly traded or their fair value can otherwise
b& measured reliably, the investment is subsequently measured at fair value with changes in fair value
rècognised in income and expenditure. All other Such investments are subsequently measured at cost
less impalm)ent.
Donations and legacies
Unrestricted
Funds
Restricted Total Funds
Funds
2024
Dortatlons
Annual donatiun
Gift aid reclaimable
Legacies and donations in m8tnori8m
42,825
19,888
64,500
42,825
32,848
64,500
12,960
127,213
12,960
140,173
Unrestricted
Funds
Reslricled Totsl Funds
Funds
2023
Donatlons
Annual donation
Gift aid reclaimable
Legacies and dc>nations in mèmoriam
18,774
22,779
45,905
18,774
22,779
45,905
87,458
87,458
13

The Suffolk Historic Churches Trust
Notes to the financial statements (¢onllnued)
Year ended 5 April 2024
Fundralslng events
Unrestricted
Funds
Restricted Total Funds
Funds
2024
Other fundraising events
Sponsored cycle ride
Pedal and drive
32,004
86.797
14,125
32.004
173,595
14,125
86,798
132.926
86.798
219,724
Unrestricted
Funds
Restrieted Total Funds
Funds
2023
Other fundraising èvents
Sponsor¥d cycle ride
Pgdal and drive
4,716
70.702
17.529
4,716
141,404
17,529
70,702
92.g47
70,702
163,649
Costs of raSslng funds
Unrestrictèd Total Funds
Funds
2024
Unreslricled Total Funds
Funds
2023
Fundraising expenses
Publicity. newsletters and leaflets
12,398
445
12,398
445
8,929
1,208
8,929
1,208
12.843
12.843
10.137
10,137
Expendltur• on oharltabl• aetlvltl•s
Unreslricled
Funds
Restricted Total Funds
Funds
2024
Share of fundraising event paid to participating
churches
Grants awarded to churches
Support costs
1.563
150,600
18,482
85,348
86,911
150,600
18,482
170,645
85,348
255,993
Unrèstriclèd
Funds
Restricted Total Funds
Funds
2023
Share of fundraising event p8id lo participating
hurches
Grants awarded to churches
Support costs
70,486
10,680
70,486
360,051
17,208
349,371
17,208
366,579
81.166
447.745
14

The Suffolk Historic Churches Trust
Notes to the financial statements (conllnued)
Year ended 5 April 2024
Analysis of support costs
2024
2023
Salary
Heat and light
Rent and rates
Insurance
Other office costs
Depreciation charge
Independent examination fee
7,582
392
1.738
936
5,842
198
1,794
6,660
408
1,962
981
4,494
117
2,S86
18,482
17,208
Net 9ainslllossesl on Snv8stments
Unre$tri¢led Total Funds Unrestricted Total Funds
Funds
2024
Funds
2023
Gainslllossesl on investments
54.699
54,699
15,7251
15,7251
10. Not Ineom•llèxpèndlturèl
Net incomtrlloxpondilurel is slated after chargingl{creditingl=
2024
2023
Depreciation of tangible fixed assets
198
117
11. Staff costs
2024
2023
Wages and salarles
7,582
6,660
The average head count of employèès during the year was 1 12023- 11.
No employee reeeSved èmpltsyee benefits of more than £60.000 during ihe year12023'. £Nill.
12. Trusteg remuneration and expenses
No remuneration was paid by the Trust to any Trustee durfng the yoar. Three Trustees received
reimbursed expenses during the year totalling £93012023-. Three Trustees £1,310).
15

The Suffolk Historic Churches Trust
Notes to the financial statements (conllnued)
Year ended 5 April 2024
13. Tangible fixed assets
Office
equipment
Cost
At 6 April 2023 and 5 April 2024
Deprgciation
Al 6 April 2023
Charge for the year
At 5 April 2024
5,191
4,616
198
4,814
Carrying amount
At 5 April 2024
377
Al 5 April 2023
575
14. Investment¥
Li$tèd
investments
Cost or valuation
At 6 April 2023
Additions
Disposals
Fair value movements
382,009
840,462
1384.8191
54.699
At 5 Aprll 2024
Impalmient
At 6 AprS12023 and S April 2024
Carrying amount
At 5 April 2024
At 5 April 2023
892,351
892,351
382.009
All investments shown above are held at valuation.
Financial assets held at falr value
Investments a￿ stated èt market value on the last day ol each financial yoar. Gains 8nd losses on
disposal and revaluation are credited 01 ch8rged to the Statetnent of Financial Activities.
15. Creditor5= Amounts falling due within one year
2024
2023
Trade creditors
Accruals and deferred income
235,121
2,310
349,629
5,040
237,431
354,669
16

The Suffolk Historic Churches Trust
Notes to the financial statements i¢onllnu4
Year ended 5 April 2024
16. Analysis of charitable funds
Year ended S April 2024
R•stTlctèd funds
Al 6 April Net incomel
2023 lexpenditurel
Gains and
Ilossesl
At 5 April
2024
Transffyrs
James Mair Legacy Fund
100,022
16.910
116.932
Designated funds
At 6 April Net incomel
2023 lexpenditurel
Gains and
Ilossesl
Al S April
2024
TT8n$fers
Capitsl Fund
Reserves Fund
165,007
382.470
66,750
155,0021
176,755
375,000
17.4701
17,4701
547,477
66,750
155,0021
551,755
Unrestrictod funds
At 6 April Net incomol
2023 lexpendilurel
G¥in5 and
Ilossesl
At 5 April
2024
Transfers
Income Fund
223,444
34,047
62,169
55,002
374,662
Yèar and•d 5 April 2023
Restricted funds
Al 6 April Nel income/
2022 (expenditure}
Galns and
Ilosgesl
Al 5 April
2023
TTansf8rs
James Mair Legacy Fund
110.164
110,1421
100,022
Designated fvnds
At 6 April N6t incomèl
2022 lèxpènditur81
Gain5 and
Ilossesl
Al 5 April
2023
Transfers
Capital Fund
Reserves Fund
aim Fund
178,653
388,195
66,579
45,905
159.5511
165,007
382,470
15,7251
166.5791
120,6741
633,427
15.7251
159,5511
547.477
Unrestricted fund5
At 6 April Net incomel
2022 {expenditurel
Gains and
Ilossesl
At 5 Aprtl
2023
Transfers
Income Fund
336,806
1172,9131
59,551
223,444
The James Mair Legacy Fund is Teslrictsd as investment capiial, the interest of which is to be applièd
primarily for the fabric ol the churches at Baclon. Wyverstone and Cotton. 11 the income in any ten year
period exceeds the actual or foreseen expenditure then any surplus may be transferred to the Trust's
Income Fund.
17

The Suffolk Historic Churches Trust
Notes to the financial statements (conllnuedl
Year ended 5 Aprll 2024
The Trustees were appointed 88 Truslges of these funds by the last will and testament of Mr Mair in
2001 butthe fund itself can never be the capital of the Trust. Accordingly, the Trustees a￿ investigatSng
whether the funds can be distributed to independent Trustees (possibly the Diocese of St Edtnundsbury
and Ipswich) to clarfy the position.
The Capitsl Fund was estsblished in 2009-10. All unre51ricted legacies which have not been designated.
surns received in memoriam, donations in exce55 01 £1,000 and Friends. life donations are credited to
the Capital Fijnd. Each year 33.3°/. {20Y. prior to 5 April 20141 of the opening fund balance will be
transferred to the Income Fund and will be available for grant making, at the discretion of the Trust885.
The Reserve Fund is the result of specific fundTaising in earfier yeaTS and Tt is aim of the Trust that
the fund should inerease at the rate of inflation each year. The fund is available forlhe general purposes
of thè Trust and lor the making of grants if for any reason fund raising events in any particular year did
not take place.
The Alarm Fund is an ext￿melY successful, Charity-run. campaign to grantfunds to ChU￿￿eS in Suffolk
to provide roof alarm5 in answer to an upsurge in lead thefts in previous years howev8r, there were
number ol Churehes which did not s88k fLJnding and did nal take part in this initial funding round and
rèmained 8t risk of lead theft. There has now been a second wave of lead theft and the Charity has
responded by starting a second phase of Alarm grants supported by a suitable separate fund. This was
started in 2019120 and received an inilial grant of £25,000 from the Lord Belstead Trust. Furtherfundlng
was received in 2020121 and grants were made for alarms to protect more Churches in Suffolk in thè
years ahead. Now that applications have ceased the remaining funds were repaid and the balance was
transferred tc* the Charity's general funds.
17. Analysis of net asset$ between fund$
As at 5 April 2024
Unrestricted
Funds
Deslgnat&d
Funds
R8strict8d Total Funds
Funds
2024
Tangible Fixed Assets
Inve5trnenls
Net current assets
377
517.351
1143,0661
377
892,351
150,621
375.000
176,755
116,932
Net A$sgts
374,662
551,755
116.932
1,043,349
As at 5 April 2023
Unrestricted
Funds
D¢$ignaled
Funds
Reslricled Total Funds
Funds
2023
Tangibl8 Fixed Assets
Investments
Nel currenl assets
575
575
382,009
488,359
382.009
165,468
222,869
100,022
Net A55ets
223,444
547.477
100,022
870.943
18

The Suffolk Historic Churches Trust
Notes to the financial statements (conllnuedj
Year ended 5 April 2024
18. Financial Instruments
2024
2023
The carrying amount of financial
instruments at 5 April 2024 were..
Flnancial assets measu￿d al fair value..
Investments
911,197
382.009
19. Related parties
There have been no related party transactions in this or the prèvious rewjrting year.
19