Charity Registrntion No. 276755 (England and Wales) ST MARY'S CHAIUTABLE TRUST ANNUAL REPORT AND FINANCIAL STATEMENtS FOR THE YEAR ENDED 31 DECEMBER 2020
ST WY'S CHARITABLE TRUST CONTEP4TS Page Legal 8nd Adtninistrdtive Infornlation Report of Ihe Trustees Balance Sheet StatetnenÉ of Financial Acti*iiies Notes to the Financial Stat¢ments Independent Examin¢r s Report
ST MARY'S CHAIUTABLE TRUST LEGAL AND ADMINISTrATtVE INFORMATION Trustees Reverend Martin Davies RO"en& Scott Mark Dalton Irtdepelldent Examiner Charles Hornan FCA Spring Coltage Trotton Peletsfield Hants GU315ER Bankers Nal Wesl NOrth"00d Branch 37 Gr¢en Le Northwood Middx HA6 3AF The CBF Church ofEngland DeposTt Fund CCLA Investment Managem¢nt Ltd 80 Cheapside London EC2V 6DZ Treasurer Ms K J Dalion Long Lane Fann Ickenham Uxbridge Middx UB108QT Pa8¢ 1
ST MARY'S CHARITABLE TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020 The Trustees of the St Mary's Cbaritable Tntst present their annual report and fanCIal statements for the year ended 31 December 2020. Trustee5' responsibilities in relation to the financial statements Charity law requires the Trustees io prepare financial statemenis for each financial year which give a true and fair view of the state of affairs of the Trust and of the surplus or deficit of the Trust for that year. In prepariiig those financial statements, the Trustees are required to: selecl suitable accounting w)licies and then apply them consistently, make judgements and estimates that are reasonable and prudenL state whdher applicable accounting standards and statements of recommended practice have been followed subject to any departures disclos¢d and ¢xplained in the financial statements and, prepare the financial Statements on the going concern b&si5 unless it is in&ppropriat¢ to presume that the Trust will continue in business. The Trustees are responsible for ke¢ping proper accountinq records which disclose with reasonable accuracy at any titne the financial position of the 'frust and to enable them to ensure that the financial statements comply with ihe Charities Act 2011. They are also r¢sw)nsible for safeguarding the assets of thc Trust and hence for taking re&sonable steps for the prevention and detection of fraud and oth¢r irregularities. Trnstees Trustees are appointed by thc Board of Trusttts and the Trnstees throughout ihe period w¢re'. Reverend Martin Davies Rowena Scott Mark Dalton Constitution and Objeets The St Mary's Charirable Trnst is con5tituid by a Deed of Trust dated 24 May 1978 and is a register¢d charity, number 276755. The Tn)ste¢s shall hold th¢ Trust Fund and the income theTeof for the disburs¢ment and administration of all gifts, donations. legacies and dcvises made and bequeathed to St Mary's Church. The Truslces hawe power to apply or invest such Trust monies in such shares and proportions &s th¢y think fit, subject to tht proviso that the objects are exclusively charitable. Covid 19 Pandemic The UK declared a lockdown on 23 March 2020 du¢ to thc Covid 19 outbreak. The main impact on St Mary's Charitable Trust was that none of the proposed works to the chUh could be carried out during the year as the Trnstees were unable to obtain quotes or commission the work. The first project to begin to spend Kay Holme5' legacy is on the Church windows. Page 2
ST MARY'S CHARITABLF, TRUST REPORT OF THE TRUSTEES (eolltiDued) FOR THE YEAR ENDED 31 DECEMBER 2020 Reviesv Ordevelopmety •¢ttTritie5 and achievements Unre$tricted Fund During the year to 31 Decembcr 2019 the 1.rust received an interim legacy of £525,000. In July 2020 the Trustees receiycd the balance of the legacy from Mr Kay Holmes of £52.360.42, so that the total gift amounted to £577,360.42. Review of fillancial transactions The financial statements as set out on pages 4 to 7 summarise the transactions of the charity during the year ended 31 December 2020, at which dale there was a surplus for the year on the unrestricted fund of £581,557. Reseryes policy The trnstces, policy is to maintain a level of reserves which will provide a stable base for its Continuing activities while at the satne timc ensuring e_xcessive fijnds are not a¢cumul8tcd. The trustees believc that the reserves are sufficient for its currenl purposes and are ffviewed on a regular basis. Risk Mandgement The trustees have examined the major strategic: busincss and operational risks which the charity faces and confirni that systems have been established to enable t¢gular reports to be produced so that necessary steps can be taken to lessen these risks. lodepettdent Examiners A resolution proposing that Charles Homan be reappoiTrted as Independent Examiner of the charity will be put forward to the -frustees at their next generdl meeting. ..Trustee 2021 Page 3
ST MARY'S CHARITABLE TRUST BALANCE SHEET AS AT 31 DECEMBER 2020 Unrestricted Fund 2020 Totsl 2019 Total No¢e Current Assets Nal West Bank &lc CCLA Accounts 580,050 2,042 580.050 2,042 527.690 2.034 Creditors {535) (535) (485) Net assels 581,557 581,557 529,239 Fund balances 581,557 581.557 529,239 2021 The notes on pages 6 and 7 forn) part of these financial statements. Page 4
ST MARY'S CHARrrABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2020 Unrestricted Fund 2020 Total 2019 Total Note Incoming Resour¢es- Voluntary Income B¢quests & Memorial Gifts Donations 52,360 52,360 525,000 75 52.360 52,360 525,075 Interest on CBF Account To¢41 Incoming Resources 52,368 52,368 525,090 Resources Expended Governance Costs Independent Examination (50) (50) (50) Total Resourees Expended (50) {50) (50) Nei Incomin% l(Out%oing) 52J18 52J18 i25,040 Ine l (Dee) funds for 2020 Fund Balances at 111120 52.318 529,239 52,318 529,239 4,199 529,239 Fund BAlanees at 31112120 £581.557 £581.557 £529.239 The notcs on pag¢s 6 and 7 form part ofthese financial statements. Page 5
ST MARY?S CHARITABLE TRUST IYOTES TO THE FINANCIAL STATEMENTS FOR THE YF.AR EINDED 31 DECEMBER 2020 Aecounting policies 1.1 A¢counting Convention These financial statements havc been prepared under the historical cost convention attd in ac¢ordance with the Church Accounting Regulations 2006 togcther with applicable accounting siandards and the SORP 2005. The St Mary's Charitable Trust is a regiSred charity and 15 not liable to Unitcd Kingdom income tax or corporation tax on charitable activities. 1.2 Incoming resour¢es DoDatlOn$ 2nd gifts Incotne is recognised in the year in which the clwity is entitled to receipt and the amount can measured iN'ith re&sonablc ccrfainty. IllvestTnent ineome Invcstm¢nt income is accounted for on a receivable basis. IJ Resources expended Expcnditur¢ is included on an aru81$ basis including irrecoverable VAT. Page 6
ST MARY'S CHARITABLE TRLST NOTES TO THE FINANCIAL STATEMENTS (Continued) FOR TUE YEAR ENDED 31 DECEMBER 2020 Creditors 2020 2019 Deposit held on 9 Lewis C105e L¢5s.' Due from PCC re gifts in prior years 1,550 1,550 (1,515) (1,515) Add ..Independent Examiner fee for past years paid by. PCC 400 400 Due to PCC 435 435 Independent Examination Fee 2019 and 2020 loo 50 £535 £485 Funds Unrestricted Funds comprise those funds which the Trustccs are free to use in accordan¢e with the Charitable objects. Restricted Fiittds are fund5 that h2v¢ b¢cn given for particular purEK)ses and projects, as described in the Trustees r¢port. Page 7
ST MARY'S CHAIUTABLE TRUST DEPENDENT EXAMINER'S REPORT TO THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2020 I report on the financial SiateTnents of the Trust, which are set out on pagcs 4 to 7. Respective responsibilities ofTrustees and Indepelldent Examiner Th¢ charity's trustees are r¢sponsible for the preparation of the accounts. I"he charity's trust¢cs consider that an audit is not required for this year (under the Charities Act 2011 (the 2011 Act)) and that an independent examinaiion is nceded. It is my responsibility to= examine the accounts follow the procedures laid down in the General Directions given by the Charity Commissioners in the 201 l Act; and state is'hether particular mart¢rs have come to my attention. Basis of independellt ex2miner's report My examination was carried out in accordance with the General Directions given by the Charity Commission¢rs. An examination includes a review of the accountittg records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in th¢ accounts. and seeking explanations from you &$ Trustees wncerning any such matters. The procedures undertaken do not provid¢ all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts. IndepelldÈllt examiner's statement In connection with my ex&min4lion. no matter has come to my attention- (l)which gives me reasonable cause to believe that in any material respect the requirem¢nts to keep accounting records in accordance with the 2011 Act. and to prepare accounts which accord wilh the accounting records and comply wilh the accounting requirements of the 2011 Act have not been met. or (2} to which, in Tny opinion. attention should be drnwn in order to cnable a proper understanding of the accounts to be rcached. Charles Homan FCA Chartered Accountant Spring Cottage Trotton Petersfield Hants GU315ER . ll91Q61.2021 Page 8