Charitir Registrdtioll No. 276755 (England and W#les) ST MARY'S CHARrfABLE TRUST AI¥I¥UAL REPORT AND FtNANCIAL STATELENTs FOR THE YEAR ENDED 31 DECEMBER 2021
ST MARY'S CHAIUTABLE TRUST CONTENTS Page Legal and Adtninistrative Information Report of the Trustees Balancc Sheet Statement of Financial Activities Notes to the Financial Statetn¢pts Indepcndent Examiner's Report
ST MARY'S CHARrrABLE TRUST LEGAL AND ADMINISTRATIVE INF0MATIoL Trustees ReTrerend Martin Davies Rea Scott Mark Dalion Bei¢rle%' Mei¢r (aptx)inted 16 May 2021) Kathcrine Jill Dalton Independent Examiner Charles Homan FCA Spring Cotta?e Trorto Petersfield Hants GU315ER Bankers Nat West Northwood Brnnch 37 Green Lane Northwwd Middx The CBF Church of England Deposit Fund CCLA Inicstment Managetneni Ltd 80 Cheapside Londo EC2V 6DZ Treasurer Ms K J Dalton Long Lane Fami Ickcnham Uxbridge Mid UB108QT Page I
ST MARY'S CHARITABLE TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2021 The Trustees of the St Mary's Charitable Trust present their annual report and financial statements for the year ended 31 December 2021. Trustees, responsibilities ID relatioD to the financial statemeDts Charitv law. requires the Trusiees lo prepare financial slatetncnts for each financial year which giv¢ a tru¢ and fair view of the state of affairs of the Trust and of the surplu5 or dcficit of the Trust for that year. In preparing those financial statements. th¢ Tnstees are required to.. seleci suitable accounting wli¢ies and then apply them ¢onsTSt¢ntly, make judgements and estimates Ihat are re&sonabl¢ and prudenL state whether applicable accounting standar(ts and siaiements of rccommended practice have been followcd subj¢ci to any departures disclosed and explained in the financial statemenis and, prepare rhe financial statetn¢nts on the going concern basis unless it is inappropriate to presume that the Trust will coniinue in business. The Trnstees are responsible for kttping proper accounting rccords ivhich disclose with reasonable accuracy at any time the financial position of the Trust and to cnable them to ensure that the finallrial statements comply with the Charities Act 2011. The). are also rcsponsible for safeguarding rhe assets of the Trust and hence for taking reasonable steps for the prevention and d¢le¢tion of frdud and oilier irregularities. Truste Trustees are appointed by the Board of Trustees and the Ttte$ throughout the period were: Reverend Martin I>avies Rowena Scott Mark Dalto Beverle). Meier K Jill Dalton Constitution and Objects The St Mary s Charitable Trust is constituted by a Deed of Tnt daied 24 Mav l978 and is a regKstered charity, number 2767)). The Trustees shall hold the Trust Fund and the income thereof for the disbursement and administration of all gifts, donaiions: legacies and devises made and bequeathed to St Mary's Church. The Trustees have power to apply or irtest such Trust monies in such shares and proportions as they think fiL subject to the proviso that the objects are exclusively ¢haritxble. Covid 19 P*ndemie Thc UK d¢¢lar¢d various levels of lockdown during 2020 and 2021 due to the Covid 19 outbak. The main impact on St Mary's Charitable Tru>t during those )'ears was that none of the proposed works to the Church could be carried out during the s'ear as th¢ Trustees 'ere unable to obtain quotes or coJnJnission the work. The first project to begin to spend Kay Holmes legac)" is Oll the Church windows. Page 2
ST iWY'S CHARITABLE TRUST REPORT OF THE TRUSTEES (contillued) FOR THE YEAR ENDED 31 DECEMBER 2021 ReTriew of developments, activities and 2rhievemellts Uureslricted Fund During ihe year to 31 tkcember 2019 the Trust received an interinTr legacy of £525,000. In July 2020 the Trustccs received the balance of ihe legacv from Mr Kav Holmes of £)? 360.42, so that the total gift amountcd to £577,360.42. In 2021 thc Trustees received a further L?15.i8 being a balance of Sthte Pension on Kay Holmes estate. In addition. on 16 Dec¢mkr 2021, Ihe Charities Aid Foundation awarded a dis¢retionary gift from the Estate of Gillian Holmes, in ihe sum of £3J1.124.21. In the light of the past two years of Covid financial impact on Har¢field Church fiinds, the Trustees agreed to donate the sum of £30,000 to the Harefield PCC. The Trustees prop(Is¢ to begin a programme of works to Harefteld Church Review of fill2llcial tralls*etioDs The financial statemenis as set out on pagc5 4 to 7 swnmarise the transactions of the charity during the year ended 31 Deccmber 2021, ai .hICh date there a surplus for the }'ear on the unrestricied fund of £882.748. Restricted Fuud Th¢ restricted fund for ihe Land Appeal ha5 been fully expended in past veat5. Reserves poli¢y The trustees" policy is to matnthin a level of rescrves which will provide a stable base for its contiwtuing activities while at the same time ensuring e_xcessive funds are not accumulated. However, in the light of the substantial bequests and legacies received in 2019 to 2021, although not restricied in any way, the Trustees believe the intention of the gifts wa5 to ensure the long terni surviN'al of St Mary's Harefi¢ld Church as a fully working partsh church for the comtnunity. The Trustees IlieVe that the reserves are suffi¢icnt for its cllrr¢nt purposes and these are reVIe.ed on a regular b8SiS. Risk Management The trustees hai"e examined the ttEajor strdtegic. business and operational risks which the charity. faces and confirtn that systems have bccn established ro enable regular reports to be prodllced so that necessary steps can be taken to lessen these risk5. Independent Examiners A resolution proposing thai Charles Homan be r¢appointed &s Independent Examiner of the charity will be put fonvard io the Trustees at their next general meeting. V.1 1................TrU5tee - 2022 Page 3
ST MARY'S CIL4RITABLE TRUST BALANCE SHEET AS AT 31 DECEMBER 2021 L'nrestricted Fund 2021 Totsl 2020 Total Note Currellt Assets Nar West Bank alc CCLA Accounts 910.905 2.043 910.905 2.043 580,050 2,042 Creditor5 (30:200} (30.200) (535) Net assets 882.748 882,748 581,557 Fund balances 882,748 882,748 58l,557 . Trnstee 2022 The notes on pages 6 and 7 fomi part of these financial sthiements. Page 4
ST MARY'S CHARrrABLE TRUST STATEMENT OF FINANCIAL ACTivrriES FOR THE YEAR ENDED 31 DECEMBER 2021 Ullre5trieted Fund 2021 Total 2020 Tot*1 Note Illeoming Resovrces- VoluDtarn' Ineome Bequests & Memortal Gifts Kav Holmes estate 216 216 52,360 Gillian Holmes Estate 331.124 331,124 Donations 331,340 331,340 52,360 Interest on CBF Account Total Incoming Resources 331,341 331,341 52,368 Resources Expended Donation to St Marv"s Harefield PCC (30.000) (30,000) Governancc Costs Independent Examiner fee (150) {150) (50) Total Resources Expended (30,1 io) ()O,l io) {50) Net Incoming l{Out20inE} 301,191 301,191 52,318 Ill¢ l (Dec) funds for 2021 Fund Balances at 111121 301.191 301,191 i81.557 52,318 5?9,239 581.5)7 Fund Balances at 31112121 £88:.748 £88? 748 £i81.5i7 The notes on pages 6 and 7 fom) part of ihese financial statements. Page i
ST MARY'S CHAIUTABLE TRUST NOTES TO THE FtNANCLIL STATF.MEYrs FOR THE YEAR ENDED 31 DECEMBER 2021 A¢¢ounting policies 1.1 Aeeounting Convelltioll Thcse financial statements have been prepared under the hisiorical cosi convention and in accordance with th¢ Church Accounling Regulaiions 21NJ6 together 1th applicable accounting Standd5 and the SORP 2005. The St Marv's Charitabl¢ Trust is a reoistered charity. and is not liable to United Kingdom income tax or corporation tax on charitsble aciivities. 1.2 Incoming resources Donations and gifts Income is recognised in the )'ear in which the ¢harity is entitled to re¢eipt and the amount can be measured with reasonable certainty.. Investmeut income Investment income is account¢d foT on a receivable basis. IJ Resources expended Expenditur¢ is included on an accrua15 basis including irrecoverable VAT. Page 6
ST MARY'S CHARrrABLE TRUST NOTES TO THE FINANCIAL STATEIIIENfs (Continued) FOR THE YEAR ENDED 31 DECEMBER 2021 Creditors 2020 2019 Deposit held on 9 Lewis Close Less: Due from PCC re gifts in prior years 1.5iO 1,550 (1,515) (1,515) Add :Independent Examiner fee for past years paid by PCC 450 400 Less= Paid during the year to 31 December 2021 Due to PCC (485) 435 Donation to St Mary's Harefield 30,000 Independent ExamTnation Fee 2019 and 2020 and 2021 200 100 £30.200 £535 Funds Unrestricted Funds ¢oTnprise those ndS which the Trustees ar¢ free to use in accordanc¢ with the Charitable objects. Restricted Funds are funds that have been given for particular purposes and projects. as described in the Trustees report. Page 7
ST MARY'S CHARrrABLE TRUST INDEPENDENT EK4MfNER'S REPORT TO THE TRUSTEES FOR THE YEAR ENDED J l DECEMBER 2021 E report on the financial statements of the Tru. whi¢h are sd oui on pages 4 to 7. Respective responsibilities ofTnL%tees alld Independent Exgminer The charity's trustees are responsible for the prepardtion of the accounts. The Charitv's trustees consider that an audit is not rcquircd for this vear (under the Charities Act 2011 (the 2011 Act)) and that an ind¢pendent examination is needed. It is my responsibility to: examine the accounts follow the procedures laid in the Generdl DIrtionS given by the Charity Commissionets in the 201 l Act- and state whether particular mattcr5 have come to my attention. Basis of independent examiner's report My examination was Carried out in accordance with the Gcncral Directions given by the Charity Commissioners. An exatnination includes a reIeW of the accounting records kcpt by th¢ charity and a comparison of th¢ accounts pregented with those records. li also includes consideration of any unusual items or disclosurcs in the accounts, and seeking explanations from you as Trusiees con¢erning any such matters. The procedures undertaken do not provide 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. Illdependent examiner's statetllenl In conneclion with tny examination. no matter has come to my attention= (l}which gives me reasonable cause to believe that in any mat¢rial respect the requirements to keep a¢counting records in accordance i%ith the 2011 Aci; and to prepare accounts which accord with the accounting records and comply with the accouniing reqlliremen of the 201 l Act have not been met- or {2) to which, in my opinion: attention should drawn in order to enable a proper understanding of the accounls to IK reached. Charles Homan FCA Chartered Accountant Spring Cottage Tnitton Petersfield Hants GU315ER 18th October 2022 Page 8
ST MARY'S CHARITABLE TRUST NOTES ON THE FUNDS FOR THE YEAR ENDED 31 DECEMBER 2021 FUND MOVEMEiYrs Unrestricted General Fund Unrestrieted KaTr's Fulld Lnrestricted Jill's Fund Total Fund$ Balance brought fonvard 1.12019 4.199 Donation uest Int¢r¢st Independent examination fee Balance 31.12.19 Be uest Interest Independcnt examination fee Balan¢e 31.1220 uest Interest Independent ¢xaTnination fee Donation to St 's Harefield PCC Balance 31.1221 7) i25.000 io) 4239 525,000 529J29 50 4,197 577J60 216 S81,557 331,124 150} {30.000 301,124 4,048 577576 882,748 Page 9
PCL XL error arning: 11 Legalmediasource