CHARITY REGISTRATION NUMBER: 267047 The Suffolk Historic Churches Trust Unaudited financial statements 5 April 2025
The Suffolk Historic Churches Trust Financial statements Year ended 5 April 2025 Page Trustees. annual report Independent èxaminèrfs report lo Ihe Iruslees Statement ol financial aclivilies Balan¢e sheet 10 Notes lo the linancial statements 11
The Suffolk Historic Churches Trust Trustees, annual report Year ended S April 2025 The Iruslees pSent their rèport and the unaudiled financial stal&m8nls ol the charity for the y8ar ended 5 April 2025. The financial statements have been prepared in accordance wlh IhÈ 8¢counting policies sel out in notes lo the account5 and comply with the charity's governing document. the Charities Act 2011 and A¢¢ounling and Reporting by Charities.. Statement ol Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic ol Ireland published in October 2019. R•ferene• and administrative detai15 R•glst•r8d ehafity nam• The Suffolk Historic Churches T¥usl Charlty registration number 267047 Prlncipal offico Brinkleys Hall Street Long Melford Suffolk C010 9JR The truste¢$ The trustee5 who Served during the year and at the date of approval were as follows.. Geoffrey Probert DL Ichairmanl David King (Honorary Treasurer) The Hon Charles Boscawen John Devaux DL David Gould Loudon Greenlees Mary Lvxmoore-Slyl8s Jamie Norma Nicholas Pearson OBE Tony Redman Simon Ronan Rachel Sloane Sesi Turnbul Edward Bland (Resigned 15107120241
The Suffolk Historic Churches Trust Trustees. annual report f¢ontlnuedl Year ended 5 April 2025 Patron Clare Countess of Euslon. Lord Lièulenanl of Suffolk Vic• Patrons The Bishop ol East Anglia The Bishop ol St Edmundsbury and Ipswich Irice Pr•sident$ Alan Barker Ray B$dwell Martin Fav811 Judith Foord Patrick Griève Lady Julia Henniker Diana Hunt Christina van Melzen Clive Paine Robert Rous DL Simon Tennanl Roy Tricker BEM Robert Williams Mary Wollon Hon Secretary Jill Taylor Assistant Socretary Halen Read Hon Trea5ureT David King Hon Bike Ridè Tr•asur•r David Gould Hon Grants S•cr•tary Adrian August Hon EdueatSon Officor Jamie Norman Hon Publicity Officer Rachel Sloane Sollcltors Birketts 24-26 Museum Street Ipswich IP1 1HZ
The Suffolk Historic Churches Trust Trustees. annual report l¢ontinuedJ Year ended 5 Aprll 2025 1nd•nd¥nt •xamin•r Abigail Robinson FCA Lovewell 81ake LLP Chartered accoLtntanis First Floor Suile 2 Hillside Business Park Bury Sl Edmunds IP32 7EA Banker5 Royal Bank of Scotland PLC 8-10 Princès Streèl Ipswi¢h Suffolk IP11QT CAF Bank Limited 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ
The Suffolk Historic Churches Trust Trustees, annual report (Colllintsed) Year ended 5 April 2025 Objectives and activities The Charity's staled objectives per the Trust Deed are to apply the income and capital of the Tru511o the preservation. repair, maintenance. improvement, upkeep, beaulificalion and reconslruction of churchès in th9 County ol Suffolk and of monuments. fittings. fixtures. stained glass. furniture, ornamenls and chattels in such churches and of the churchyard belonging lo any such ¢hurchès. "Church" means any Church, Chapel or olhèr buildings used for public worship whether belonging lo or used by the Church of England OT any other religious body. The Trustees have considered the Charity Commission's guidanc8 on public b•nefil when selling the obj8ctives lor the year. The Trustees confirm that they have complied with the duly in Section 4 of the Charilies Acl 2011. Grant making policy and proe•dur•s The Charity invites applications for funding ol projecls from churches in Suffolk in a sp8cifi¢ formal. The applications are reviewed against specrfic eriteria by the Grants Committee who approve or refuse grants. The project performance 1$ monitored by the Grants Committee. Approved grants must be taken up within two years of beirig awarded and ar8 paid on r8ceipl ol evidence that the project has been completed. Achl•v•mènts and performance In shaping our objèctives lor the year and planning our aclivilies. the Trustees have Considered the Charity Commission's guidance on public benefit. The income of the Trust is detailed in the Slalemenl of Financial Aclivilies together with the supporting details ol Fund Raising Events. It is the aim of thè Trust to act as a long term distributor ol grants in accordance with ils charitable purpose5. All significant legacies are used lo establish dèsignatèd funds which are transferred lo the incorne fund in equal annual arnounls over five years unlèss they are designated for a specific purpose. Other unreslricled legacies, sums received in memoriam. subslanlial donalions and Friends, life donations are CTediled lo the Capital Fund. of which 33.30/D of the openin9 fund balance al the start of each a¢counling year is transferred lo the income fund and available for dislribulion. Details of all other Teslrid8d and designated funds are shown in notes lo tha accounts.
The Suffolk Historic Churches Trust Trustees. annual report f¢ontln¢md) Year ended 5 Aprll 2025 Flnan¢ial rèvl•w Despite some very g8nerous donations and legacie5 the Trust's income dècreased to £276,200 12024.. £386,543). Despite this, the Trustees to decide to step up theii giant-giving in 2025 following record income levels in 2024. Grants awarded lo churches in the year totalled £191,32512024.. £150,600). The grants awarded along with the share of fundraising events paid to participating churches of £78.985 12024". £86,9111 ma¢Je up Ihg majority ol the lolal expenditure. After taking into 8c¢ounl a loss 12024.. gain) on inveslmenls. expenditure exc@Èded income by £74,030 12024.. income excgeded expènditure by £172,406). This re5ulled in lolal fijnds carried for the year decreasing lo £969,31912024." £1,043,349). Rèserves pollcy Within designated funds is a reserve fund held lor the general purposes of the Charity and for the making of grants if for any reason lund raising events in any particulady year did nol take place. The reserves policy is Iherèlore sel to a minimum ol one year's incoffle. Basèd on the income activity of 2025 the amount held as d8signat6d eouales to a reserve position just over 24 months which the Trustees consider to be prudent in lighl ol the conlexl ol the currenl environment. The Trustees aim lo build the reserves by inflation 8ach year and lo expense exces5 reserves in line with ils aim and objectives in limes of need. In the opinion of the Trustees the surplus held in èxcess of the 1gseNes policy is therefore adèquatÈ to the purposes of the Chafily. Inv•$tm•nt palley The Finance Committee has considered the most appropriate policy for investing funds and has found thal unil Irusls. some specilically designed for the charity se¢lor. meet their requirernents lo generate conservative Capilal growlh. The Finance Committee appoinled CCLA to manage I ongoing inveslmenls. Thè investments of the Trust are common inveslment lunds as defined in charity legislation. Cash resources above immediate working requirements are deposiled with a common deposit fund as defined in the same Act. Plans for futur• p•rSods The Charity plans to continue to support the sponsored cycle ride and other fundraising events in line with ils aims and obj8ctiVgS. For thè yèar ènded 5 April 2025 the Charity Is seeking to maximise its income and capital for the ongoing preservation, repair, maintenance. improvement. upkeep, beautification and reconslruclion of churches in Ihe County ol Suffolk and of monuments, litlings, fixtures, stained glass, furniture. omamenls and challels in such churches and ol the chur¢hyafd belonging to any such churches for which the Trustees consider lo be an ongoing and constant pr¢ority year on year.
The Suffolk H18torlc Churchés Tnmt Truste88' annual rgport(¢tyth• Y•ar •nded S Aprfl 2026 Th& Suifolk Hi¥trt Churc1 Tryl tAbld by • Trt (l•¥J dat•d 21 D•¢ombw 1973. 11 a rngiutarnd Chartty, nuth267047. Tr• Trust an erwiron W, rxth 020182. In June 2017. The Tntsi 18 gov8m ty tho Tnffjte VI1 rmet tirr• a yov dlar 4Te tskan by them. Olher m•tlw8 •rg do109aW to tho Rlda Comnth•, Grart8 and Finance Comrnil•• 48 kndl¢ated by tho (rTvTri tiY89. Th• ¢>Thlttws •a¢h nx•t IT frwr Im•$ a ye•r. Plo¥t ol the eAmvrt •re very ¥thh tr of th8 Chwity. hn0 •N•d for Some timo, Pro3¢ new Trusts•J fjro In¥tt•J to 8tt8nd 8 ffeling th• Crnn to f•mlL4rt89 them8•1¥ th• Chwlty and tr &)rthin Itcfmkns. Irfn9 and the prtor yw Ihb Tntst arpbyal Ajthlarrt S•erry •nd * for tholr offle• •ndf•lr ov•nlrf• Th• financtol tht•menl8 Iwve been wp•d It> w• il 'lnx aTxJ 4ThJ hm depart•d from thg Ch8rlties IAccpurrt6 and R•portal Re910n6 2008 to the Ywuirtsj lo prove a hlr v•1. Thls daparlurn ha8 trwLfv8d fdbthr¥J th? Acttu ond Rewdng by char1t1. St•toment of ReComnr•jfjd Pl8a1 applicatde to ¢Awrtb"e• prewfng trdr nw81 ¥twTwnts kn ¥¢¢ord8Tr wltit 019 Finndl R•portln9 Standard aWkJAb In tho UK and R•wknll¢ of Ir•l>J iwd kn Ctober 2019 raibor than th• A¢wuntirtg WKI RewUn9 by crtI1 8temwrt ol Pw•i¢e •ff•¢tlvafrnm l A1 2005 h89 drKe be¢nwitlxlrwAm. A molubl to 4gptht Rcè**on FCA ol Blakn LLP u lThJyndBrrt YAII Ix ¢n b•h&lf ol th• buml of tsuthg• by. Chatrrmn
The Suffolk Historic Churches Trust Independent examiner's report to the trustees of The Suffolk Historic Churches Trust Year ended 5 April 2025 I report lo the charity truslaes on my examination of the finanoial stslements ol the charity fof the year ended 5 Apnl 2025 which comprise the statement of finanoial a¢tivities, balance sheet and the related notes. Re$ponsibiliti•s and basls of report As the charity's Iruslees you are responsible for the preparation of the financial siatements in accordance with the requiTemenls of thè Chariti&s Act 2011 1.the Acl'l. I report in TespeGI of my examination of the charity's financial sialgments carried out under section 145 of the Act and in Garrying out my examination I have loll¢)wed all thè applicable Directions given by the Charity Commission undèr sèclion 14515llbl ol the Act. Indèyndènt examiner's statemont Since the eharily's gross irbcome exceeded £250.000 youi examiner musl be a member of 8 body listed in section 145 of the 2011 Act. I confirm that l am qualified to undertake the examination becausè l am a member ol the Inslitute of Chartered Accountsnls in England and Wales IICAEWI, which is one ol thè listed bodies. I have completed my ex8min81ion. I confirm Ihal no material matters have ¢ome to my attention in ¢onnection with the examination givin9 mè cause lo believe that in any material rbspect". accounting records were not kept in respect of the ch8rity as rgquifèd by section 130 of the Act., or the financial statements do not accord with those records., or the financial slalements do not comply with the applicable reqU1mentS concerning the lom and content of accounts sel out in the Chafltiès IAccounts and Report51 Regulations 2008 other than any requirement that the accounts give a 'true and fairf view which is not a maller considgred as part of an independent examinalion.
The Suffolk Historic Churches Trust Independent examiner's report to the trustees of The Suffolk Historic Churches Trust (¢ontinu•dJ Year ended S April 2025 I have no eoncems and have come across no other matters in Connection with the examination to which attention should bè drawn in this report in older to enable a proper understanding ol the accounls to be reached. Your attention is drawn lo the lact that the Charity has prepared the aGcounls (financial statements) in accordance with A¢counling and Reporting by Charities.. Statement ol Recommended Practice applieablè to charitie5 preparing their accounts in accordance with the Financi81 Reporting Slandaid applicable in the UK and Republic ol Ireland IFRS 1021 in preference to the Accounting and Reporting by Charities.. Stalèment ol Recommenlled Pra¢li¢e issued on 1 April 2005 which is referred lo in the extant regulatsons but has since been withdrawn. l understand that this has been done in order for the accounts lo providg a true and lair view in accordance with the Generally Accepted Accounting Practice effective lor reporting periods b8ginning on or after 1 January 2015. Abigail Robinson FCA Independent Examiner Lovewell Blake LLP Chartered accountants First Floor Su11e 2 Hillside Businèss Park Bury Sl Edmunds IP32 7EA
The Suffolk Historic Churches Trust Statement of financial activities Year ended S April 2025 2025 Reslricled funds Total funds 2024 Unreslricled funds Total funds Incom• and endowrnents Donations and legacies Fundraising events Inv8slm8nt income 54,863 98,100 39,711 54.863 177.269 44.068 140,173 219,724 26,646 79,169 4,357 Total incomo 192,674 83,526 276.200 386,543 Exp¥nditUfe Raising funds Cr)sts ol rèising lunds Charitable activities 4,881 213.601 4.881 292.455 12,843 255,993 78.854 Total expenditure 218,482 78.854 297,336 268,836 Net lexpenditurellineom• and n•t rnovements in funds béforè gains and los$e$ on invè$tm•nts 125.8081 4.672 121.1361 117,707 Nel IIOs5esygains on investments 152,8941 {52,8941 54,699 N•t l•xp•nditureifincome before transfer of funds 178,7021 4,672 174,0301 172,406 Transfers bèiwgen funds 315 13151 Net movement in funds 178,3871 4.357 174.0301 172,406 Reconciliation of fund$ Total funds brought lorwaril Total funds carriod forward 940.827 102,522 1.043,349 870,943 862.440 106,879 969,319 1,043,349 The slalemenl ol financial activities includes all gains and1055es recogni5ed in the year. All in¢ome and èxpendituie derive from continuing aclivilies. Th• notts on pages 11 to 19 fom7 part of these financial statements.
The Suffolk Hlstorfc Churches Trust BalanG• sheet 5 Aprfl 2025 Fix•d A89•ts ffixed a¥s•ts 13 14 179 839.457 839.636 377 891351 892.728 CurMt••wts Cash al boftk In 388.052 Crndltorn: Amountsfalllry Tlthln on• y•ar 1240,281) 1237.431) f29.883 ,319 s,319 1S0ffj21 Tolal •M•l• l••• ¢unBrtW•bUNI•• 1.043,349 1.043,349 FwKl• ofth# ¢l•rtty I.879 102,522 940.827 1,043.349 16 989.319 Th8wfi l •tat•rr •pprnYd by th• br•rd ol and aullrtd tr l•Ju8 on Davld Th• n•t•• on p•9M 11 tr l• torni p•rt oltlw •t•t•m -10-
The Suffolk Historic Churches Trust Notes to the financial statements Year ended 5 April 2025 Genoral infomatlon The Charity is a publi¢ benèlil entity and a registered charity in England and Wales and 1$ unincorporated. The address ol Ihe principal office is Brinkleys. Hall Slregt, Long Mellord, Suffolk,COI0 9JR. Statement of ¢ompllan¢e The Charity con51ilules a public b¥nèfit enlity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities". Statement of Recommended Practice 8pplicablÈ lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic ol Ireland issued in Oclobèr 2019. thè Financial Reporting Stsndard applicable in the United Kingdom and Republic of Ireland IFRS 1021, the Charities Act 2Q11 and UK UK Generally Accepted Accounting Prathce. The financial stslements have been prepared to give a 'lrue and fatrf view and havè departed from th8 Charities IAccoynls and Reports) Regulalions 2008 only lo the exlenl required to provide a 'true and fair view,. This dèparture has involved following the Accounting and Reporting by Charities." Statement ol Recommended Practice applicable to charities Preparing Ih&ir accounts in accordance with Ihe Financial Reporting Standard applicable in the UK and RepubliG ol Ireland issued in Oclober 2019 rather than thè Accounling and Reporiing by Charities.. Stalément of Rècommended Practice effective from 1 April 2005 which has since been withdrawn. Accounting policies Basls of preparation The financial statements h8ve be¥n prgpargd on the hislorical cost basis, as modified by the revaluation ol certain financial assets. Going ¢one•rn The financial stateménts have been prepared on the going concem basis and the Trustees believe that no material uncertaint¢es exist. The Trustees have consider9d the level of funds held and the expe¢led income and expenditure for the next 12 months from authorising these financial stalemenls. The budgeted income and expenditure is slrCient with the level of r8sèrves for the Charily lo be able lo continue as a going concem. Incorne tax The activities of The Suffolk Historic Churches Trust are exempl from United Kingdom Income and Corporation laxalion. provided that the income is applied lo charitable purposes. Fund accounting Unrestricted lunds are available lor use al the discretion ol th8 Trustees lo further any of the charity's purposes. Designated funds are unfeslricled fund5 eamarked by thè Trusl8es for particular lulure projecl of commitment. Restricted funds are subjected lo restri¢tions on their expendilure declared by the donor or through Ihe terms of an appeal, and fall into onè of Iwo sub-classes.. re51ricled irscorne funds or endowment funds. 11
The Suffolk Historic Churches Trust Notes to the financial statements l¢ontinu0dJ Year ended 5 April 2025 Accounting policies (continued) Incorne All income is included in the stalemenl ol financial aolTrvities when entillemenl has passed to the charity. it is probable that the economic benefits associated with the transaction will flow lo the Charity and the amount can be reliably measured. The following specific policies a applied to parlicular calog¢yies of income= Income includes donations and legacies. For lega¢ies, entitlement is recognised from the earlier of the dale of receipt or when sufficient nolific81ion is rèceived by the Charity to enable il lo qvanlify ils entillemenl wilh probability. Donation5 are recognis8d when the Charity has received the income. If thè donation is subject lo a reslriction the Charity will rècognise when the reslriclion is met or wholly wiihin the control ol the Charity. Income derived from fundr8ising events is recognised as earned. Investment income is recognised on a receivable basis. Exp*nditur• Expenditure is rècognised on an accrua15 basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified undér headings of the statement of financial aclivitiès to which tl relales.. Expendituie on raising funds includes Ihtr co$1$ of all fundraising activities, events. non•charilable trading activities, and the sale ol donated goods. Expenditure on charitable 8¢1ivilies in¢lud8s all costs incurred by a charity in undertaking a¢tivities Ihal further ils charitable aims for thè benefil of ils beneficiaries, including thos8 support costs and costs relating lo the governance of the charily apportioned lo charitable adivilies. All costs are allo¢atod to expenditure calegofies renecling Ihe use of the resource. Direct costs alliibutable lo a single activily are allocated directly lo that activity. Shared costs are apportioned between Ihe activit¢Ès they contr¢bute lo on a reasonable. juslifiable and consistent ba515. Tang5ble assets Tangible assets are irsilially recorded al cost. and subsequently slated al cost less any accumulated depreciation and impairmenl10ssgs Any tangible assets carried at revalued amunls ar8 re¢ordèd al the fair value al the dale of rèvalualion less any subsequent ao¢unulalÈd depreciation and subsequent accumulated impaimient losses. D•prèclatlon Depieciation is cal¢ulal8d so as to write off the cost or valualion of an asset, less its rèsidu81 value, over Ihe useful economic life of that asset as lollow5'. Office equipment 25,/0 straight line Investmfjnts Unlisted equity investments are initially recorded al cost, and 5ubtsèquènlly mèasur8d at fair value. 11 fair value cannol b8 rèliably measured, assets are measured al cost less impaimient. Listed invèstm8nls ale measured at lair value wilh Changes in fair value being recognised in income OT èxpènditure. 12-
The Suffolk Historic Churches Trust Notes to the financial statements (tontlnue¢ll Year ended 5 Aprll 2025 A¢eounting policies {¢onllnued) Financial instruments A financial asset or 8 financial liability IS fecognised only when the entity becomes a party lo Ihe contractual provisions of Ihe inslwment. Basic financial instrum8nls are initially recognised al the amount receivable or payablè including any relal811 Iransa¢lion costs, unlèss the arrangement conslilules a financing transaction, where it is recogni5ed al the present value ol the future payments discounted al a market rat8 01 interest for a similar debt inslrumenl. Currenl assets and current liabilities are subsequently measured at the cash or other consideration expected lo be paid or received and not discounted. Dtrbl inslrumenis are subsequently measured 818mortisèd cosl. Where inveslrnents in shares or preference shares arè publicly traded or their fail value can otherwise be measured reliably, the investment Is subsequèntly measured at lair value with changes in fair value recognised in income and expenditure. All othèr such investments are subsequently measured al cost less impairnienl. Donations and l•gael•s Unreslricled Funds Restricted Total Funds Funds 2025 Donations Annual donalion Gill aid rg¢laimable Legaciès and donations in memoriam 13,159 24,704 17.000 13,159 24,704 17,000 54,863 54,863 Unrestricted Funds Reslricled Total Funds Funds 2024 (rnststedj Donatlons Annua1 donation Gill aid rèclaimable LÈgacies and donations in memoriam 42,825 19,888 64,500 42,825 32,848 64,500 12,960 127,213 12,960 140,173 13
The Suffolk Historic Churches Trust Notes to the financial statements fcontsn¢mdJ Year ended 5 April 2025 Fundraising tv*nts Unrestricted Funds Restricted Total Fund5 Fund5 2025 Other fundraising events Sponsored cycle ride Pedal and drive 1,765 79.170 17,165 1,765 158.339 17,165 79,169 98,100 79,169 177,269 Unrestricted Funds Reslricted Total Funds Funds 2024 Ir•statodl Other fundraising evonls Sponsored cycle ride Pedal and drive 32,004 86,797 14,125 32,004 173,595 14,125 219,724 86,798 132.926 86,798 Costs of raising funds Un$trICted Total Funds Funds 2025 Unrestricted Total Funds Funds 2024 (restsled) Fundrasing expenses Publicity, newslellers and leaflets 4.165 716 4,165 716 12,398 445 12,398 445 4.881 4,881 12,843 12,843 Expenditure on charitable activltl¥s Unreslri¢led Funds Restricted Totsl Funds Funds 2025 Share ol fundraising event paid lo participating churches Grants 8wardeLI lo churches Support costs 131 191,325 22,145 78,854 78,985 191,325 22,145 213,601 78.854 292,455 Unreslricled Funds Reslri¢t$d Total Funds Funds 2024 (rnstatod) 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 14-
The Suffolk Historic Churches Trust Notes to the financial statements (¢onllnuedJ Year ended 5 April 2025 Analysis of support Costs 2025 2024 Salary Heal and light Rent and ralès Insurance Other off ice costs DepreGialion charge Independent 8xaminatson fee 7,930 734 1,738 936 7,393 198 3,216 7,582 392 1,738 936 5,842 198 1,794 22,145 18,482 Net Ilossesllgaln$ on Inv•stm•nts Unrestricted Totsl Funds Unreslricled Total Fun(is Funds 2025 Funds 2024 frnstatedj Gainslllossesl on investmènts 152,8941 152.8941 54,699 54,699 10. Net {expend5tureifincome Nèt lèxpenditureyincome is staled aller chargingllcreditingl.. 2025 2024 (resiated) Depreciation of langible fixed assgts 198 198 11. Staff eosts 2025 2024 Wages and salaries 7.930 7,582 The average head ¢ounl ol 8mployees during the year wa5 1 12024: 11. No employèe receivèd employee benefits of more than £60.000 during Ihè year12024.' £Nil). 12. Trustee remuneration and •xp•ns•s No remuneration was paid by the Trusl lo any Trustee during the year. No Trustoes received reimbursed expenses during the year12024.. Thr6È Ttustees were reimbursed expenses in relation to charitable actiwties of £9301. 15-
The Suffolk Historic Churches Trust Notes to the financial statements (¢¢)nllnued) Year ended S April 2025 13. Tangibl• Ilxed assets Office equipmont Cost At 6 April 2024 la$ r*statedl and 5 April 2025 Depreciation Al 6 April 2024 Charge for the year At S April 2025 Carrying amotsnt At S April 2025 At 5 April 2024 5,191 4,814 198 5,012 179 377 14. Invèstments Llst•d Inv•$tm•nts Cost or valuation Al 6 April 2024 Additions Fair value movemen15 892,351 152,8941 839,457 At 5 Aprll 2025 Impairrnent At 6 April 2024 and 5 Aprll 2025 Carrying amount At 5 April 2025 Al 5 Apnl 2024 839,457 892,351 All bnv8slm8nts shown above are hdd at Valuation. Financial 45$0ts hold at falr valuè Inveslrnen15 are stsled at market value on the last day of each financial year. Gains and losses on disw)sal and revalu81ion are credited or charged lo the Statement of Financial Activitios. 15. Cr•dltors.' Amounts lalling due within ong y•ar 2025 2024 fr•slated) Trade crÈdilors Accrtjals and deferred income 257,785 2,496 235,121 2.310 260,281 237,431 16-
The Suffolk Historic Churches Trust Notes to the financial statements (Collllnuodj Year ended 5 April 2025 16. Analys1$ of eharbiable funds Yo•r •nd•d S April 2025 Restrictgd fvnd$ Al 6 April Net incomel 2024 lexpendilurel Gains and Ilossesl Al 5 April 2025 Transfers James Mair Legacy Fund Ride & Stride Fund 102.522 4,357 315 106.879 13151 13151 102.522 4,672 106,879 D•slgnat•d funds Al 6 April Nel incomel 2024 lexpendilurel Gains and Ilos$esl Al 5 April 2025 Transfers Capilal Fund Re$6rves Fund 176,755 375,000 17,000 1193,7551 1375,0001 551,755 17,000 1568,7551 Unrt$trl¢t¥d fund$ At 6 April Net incomel 2024 lexpendilurel Gains and Ilossesl At 5 April 2025 Transfèrs Income Fund 389,072 138,4511 152.8941 569,070 866,797 Year ended 5 April 2024 Restricted funds Al 6 April Nel incomel 2023 lexpenditurel Gains and Ilosses Al 5 April 2024 Transfers James Mair Legacy Fund Ride & Stride Fund 100,022 2,500 14,410 16,910 102.522 {14,4101 114.4101 100,022 102.522 Deslgnated funds Al 6 April Nèl incomel 2Q23 lexpendilurel Gains and (Ios5esl Al S April 2024 Transfers Capital Fund Reserves Fund 165,007 382.470 66,750 155,0021 176,755 375.000 17,470) 17,470 547,477 66,750 155,0021 551,755 Unrestrlcted funils Al 6 April Nel incomèl 2023 lexpenditurel Gains and Ilossesl At 5 April 2024 Transfers Income Fund 223.444 34,047 62,169 69.412 389,072 The James Mair Legacy Fund is reslricled as inveslmonl capital, the interesl of which is lo be applied 17-
The Suffolk Historic Churches Trust Notes to the financlal statements (contlnuod) Year ended 5 April 2025 primarily for the fabri¢ of Ihe churches al Bacton. Wyverslone and Cotton. If the incomè in any ten year period exceeds the aclual or foreseen expenditure then any surplus may be transferred to the Trust's Income Fund. The Tru51ees of SHCT were appointed as Trustees of these lunds by the will ol Mr Mair in 2001 but the fund itself can never be the capital of SHCT. Accordingly, the Trustees are 1nvestigating whether the funds can be dislribijled lo indep8nd8nl Irustees Ipossibly the Diocese of Sl Edmundsbury and Ipswich) lo clarify the position. The Ride & Stride Funrj arises Irom income received as a result of the annual Ride & Stride evenl and is reslricled towards Ihe churches in Suffolk. As a result of a review of Teslricled funds undertaken by the TTLislees In the current yèar it was noled that there has been an under allocation to this lund of expenditure. The Trustees afe confident the year end funds carried foThYard in ièspe¢t ol this fund are £Nil and a5 such, a Iransfgr has been raised in the year lo represent the coNe¢lion ol of expendilurg allocation. The Capital Fund was established in 2009-10. All UnstriCted legacies which have not been designated, sums rèceived in memoriam, donations in excess of £1.000 and Friends, life donations afe credited lo thè Capital Fund. Al the year end, il was decided that thè Capital Fund was no longer required and that Ihese funds were beller lo be made available to the Grants Committee. The Reserv6 Fund is the result of specific fundraising in eadier years and il is the aim of the Trust thal the fund should increase al the rale of inflation Èach year. The fund is available for the general purposes ol the Trust and lor the making of grants rf lor any reason fund raising events in any particular year did not take place. The Finance Commiltee decided al the year end th81 these funds no longer needed to be held sep8r81oly Iiom general lunds and as such, these fun¢Js have been Iransferred lo Ihe General Fund al S April 2025. 17. An#lysi$ of nèt assèts between funds As al 5 April 2025 Unre51ricled Funds Designaled Funds R8slricted Total Funds Funds 2025 Tangible Fixed Assets Investmenis Nel currenl assets 179 839.457 12.436 179 839,457 129,683 117.247 Nel Assets 852,072 117.247 969,319 As al 5 April 2024 unstrICted Funds Dèsignated Funds Reslricled Tolal Funds Funds 2024 Tangible Fixed Assets Invèslmènls Nel current assets 3n 517,351 1143,0661 377 892,351 150,621 375.000 176.755 116,932 Net As$•t$ 374,662 551.755 116.932 1,043.349 18-
The Suffolk Historic Churches Trust Notes to the financial statements (¢onllnuodJ Year ended 5 April 2025 18. Flnan¢lal Instrumènts 2025 2024 The carrying amount ol financial instruments al 5 April 2025 were= Financial assets measured al fair value.. Investments 839,457 892,351 19. R•lat•d partles There have been no related paty transactions in this or the previous reporting year. 19-