Charity RegistrAdon No. 2767 (Englalld and Wales) ST MARY'S CHARrrABLE TRUST ANNUAL REPORT AND FINANCIAL STATEMENrs FOR THE YEAR ENDED 31 DECEMBER 2024
ST MARY'S CHARITABLE TRUST cowrENrs Page Legal and Administrntive Inforniation Report of the Trustee$ Balance Sheet Statement of Financial Activities Notes to the Finaneial Statsments Ind¢p¢ndent Examiner's Report
t4RY'S CHARTfABLE TRUST LEGAL AND ADMtNISTRATIVE INFORMATION Trustees Revcrend Martin Davies Rowena Scott Mark Dalton Beverley Meier (appointed 16 May 2021) Katherine Jill Dalton Independent Exgminer Charles Homan FCA Spring Cottage Trotton Petersfield Hants GU315ER Banken Nat West Northwood Branch 37 Green Lane Northwood Middx HA6 3AF The CCLA Chur¢h of En8land Deposit Fund CCLA Investment Manasement Ltd 80 Cheapsid¢ London EC2V 6DZ Tr¢*Jurer Ms K J Dalton Long Lane Fann l¢kenham Uxhrid8e Mid¢lx UBIO 8QT Page I
ST MARY'S CHARABLE TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 The Trnstees of the St Mary's Charitabl¢ Trust present their annual report and financial 5tatemcnts for the year ended 31 December 2024. Tru5tees' resw)nsibilities in relation to the finan¢ial statements Charity law requires th¢ Trnstee5 to prepare financial 5tatemcnts for each financial year which give a true and fair view of the state of affairs of the Trust and of the surplus or d¢ficit of the Trust for that year. In preparing those financial statements, the Tntste¢s are required to: select suitable accounting policies and then apply them Consistently, make judgements and estimjtes that are reasonable and prud¢nL state whether appli¢able a¢¢ountin8 Standards and $tstements of recommended practi¢è have been followed subject to Any departures disclosed and explained in the finan¢ial statements and. prepare the fmancial statsments on the goins con¢¢rn basis unless it is inappropriate to presutD¢ that the Trust will continue in business. The Trustees are responsible for keeping proper a¢countin8 records which di8clos¢ with reasonable ac¢uracy at any time th¢ financial position of the Trust and to en8ble th¢m to ensure that the finanetal stat¢ments comply with the Charities Act 2022. Th¢y also rcsponsible for saf¢guarding the assets of the Trust and hen¢¢ for taking reasonable steps for the prevention and detection of fraud and other irre8ularities. Trustees Trustees Bre appointed by the Board of Trustees and the Trustees throughout the period w¢r¢'. Rcvrnd Martin Davie5 Row¢n& Scott Mark Dalton Bev¢rley Meier K Jill Dalton CoD$titutiott and Objects The St Mary'5 Charitable Trust is wnstituted by a Deed of Trust dated 24 Mv4y 1978 and is a registered charity, number 276755. The Trustee5 &hall hold the Trust Fund and thc incom¢ thereof for the di$burscment and athninistrntion of 311 gifts, donation% lega¢i¢s and devises madc and bequeathed to St Mary's Church. The Trustees have pow¢r to apply or invest such Trust monies in such shares and proportions as they think fi¢ subject to th¢ pmyiso that the objects are exolusively Charitable. Pag¢ 2
ST MAIiYS CHARABLE TRUST REPORT OF THE TRUSTEES (continued) FOR THE YEAR EfiDED 31 DECEMBER 2024 Review of developments, a¢dvities achievements Unrestricted Fund Durin8 thc year to 31 December 2019 th¢ Tnjst received &n interim legacy of £525.000. In July 2020 the TNslees r¢c¢ived the balance of the l¢gacy from Mr Kay Holme5 of £52,360.42, so that the total gift amounted to £577,360.42. In 2021 the Trns¢ees received a further £215.58 bcing a balance of State Pension on Kay Holmes eststc. In addition, on 16 Dccember 2021. the Charttie5 Aid Foulldatioll awarded a diretIOnary gift from the Estate of Gillian Holmes, in the sum of £331,124.21. The Trnslecs have begun a programme of works to Harefield Church, and quotes have been obtsined for the works whieh began in earnest in 2024 having obtained the necessary faeuliies from the Diocese. During the year to 31 Dec¢mber 2024 the Trustees made k donalion of £42.777 to St Mary's Harcfield PCC in relation to maintenance works to St Trdary'g Church artd Churchyard (2023 £8,574) Review of finu¢lAI tr8D$ctlons The fmancial stst¢ments as set out on PAges 4 to 7 summaris¢ the transactions of the ch8rity durin8 the year ended 31 December 2024, at which dat¢ ther¢ was 8 surplus for the year on the urwestri¢ted fund of £854,562 {2023 £866,771). In December 2023, the Trustees made a long¢r-terni inve51ment with the CCLA in the sum of £750.000 with the intention that it will generate sufficient interest to cover thc cost of the planned works of repair and irnprovemeni at Harefield Church in the lon8 terni. Reserves polity The truste¢s' policy is to maintsin a level of reserves which will provide a stable base for its continutng activities whil¢ at the same time ensuring excessive funds are not accumulated. However, in the light of the substantial bequests and legacies received in 2019 to 2021, although not restricted, the Trnstees believe the intention of the gifts was to ensure the long-t¢nn survival of St MAry's Harefield Church as a fully working parish church for th¢ community. The Trustees belicve Ihat the reserve5 are sufficient for its current purposes and these are r¢viewed on a regular basis. Rlsk Mallagement The trustee5 have examined the mHjor strategie. business Alld opgrntionAI ri8k8 whioh the Ghorlty fLcG5 at confirm that systems have been established to ¢nable regular reports to be pn)duced so that necessary steps can be tak¢n to lessen these risks. Independent Examlner A resolution proposing that Charle5 Homan be Teapwinted as Independent Examiner of the charity will be put forward to the Trustee$ at their next 8¢ncral meeting. - 2025 Page 3
ST MARY?S CHAIUTABLE TRUST BALANCE SHEET AS AT 31 DECEMBER 2024 Unrestricted Fund 2024 Totsl 2023 Total Note Current Assets Nat W¢st Bank alc CCLA Accounts 74,554 782,854 74,554 782,854 123,359 752,136 Creditors (2.846) (2.846) (8,724) Net agsets 854,562 854,562 866,771 Fund bAlanc¢s 854,562 854,562 866,771 31. 2025 The notes on pages 6 and 7 form part of these fin*nei&l statements. Page 4
ST MARY'S CIIARITABLE TRUST STATEMENT OF FtNANCIAL ACTtVTrJis FOR THE YEAR EIYDED 31 DECEMBER 2024 Unrestricted Fund 2024 Total 2023 Total Note Interest on CBF Account 30,718 30.718 66 Total lllcomiog Resources 30.718 30.718 66 Resources Expended Donalion to St Mary's Harefield PCC (42,777) (42,777) (8.574) Tree work to Churchyard Governanee Costs (150) {150) (150) Total Resource4 Expended 42.927) (42,927) 8,724 Net IncomiDg l(Outgoin£) {122lVJ) (12,209) 18,658) Inc l (Dee) thDd8 for 2024 Fund Balances at111124 (12,209) 866,771 (12,209) 866,771 (8,658) 875.429 Fund Balanees Vdt 31112n4 £854 562 £854.562 £866 771 The notes on pages 6 and 7 forn) part of these financial statements. P8g¢ 5
ST MARY'S CHARITABLE TRUST NOTES TO THE FJNANCIAL STATEMEiYrs FOR THE YEAR ENDED 31 DECEMBER 2024 A¢counting polieies 1.1 Accounting Convenlio These financial state¢ts have been prepared under the historical cost convention and in actordance with the Church Accounting Regulations 2006 together with applicable accounting standards and the SORP 2005. The St Mary's Charitable TTUSt is a registered charity and is not liable to United Kingdom income t&x or corporation t&x on charitabl¢ activities. la Incoming resourc Dottations and ft& Income is recognis¢d in the year in which the charity is entitled to receipt and the Amount ¢an be measured with reasonable certainty. IDvestment income Inv¢slm¢nt income is untrd for on a receivabl¢ basis. IJ Resources expended Expenditure is included on an accruals basis including irrewverable VAT. Page 6
ST MARY'S CHARrrABLE TRUST NOTES TO THE FINANCIAL STATEMEwfs (Continued) FOR THE YEAR ENDED 31 DECEMBER 2024 Creditors 2023 2023 t)onation to St Mary's Harefield PCC for Irpairs and maintenance to Harefield Church chUhYard during 2024 2.546 8.574 Independent Examination F¢¢ 2024 300 150 £2,846 £8.724 Funds Unrestricted Funds ¢omprise those ndS which the Trustees 8re free to use in 8Gcordance with the Charitable objects. Restricted Funds are funds thal have ljeen given for particular purpJse$ Jnd projects. as descrikd in th¢ Trust¢es report. Page 7
ST MARVS CHARrrABLE TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 I r¢port on the financial stst¢ments of the TrusL which are set out on pages 4 to 7. Re8peclive re5ponslbi]ities of Trustees 2nd Independent Examiner The charity's trustees are responsibl¢ foT the preparation of the accounts. The charity's truste¢s consider that an audit is not required for this y¢8r (under lh¢ Charities Act 2011 (the 2011 A¢t)) and that an independent examination is needed. It 15 my responsibility to: examine the accounts follow the pffKedures laid down in the General Directions givcn by the Charity Commissioners in the 2022 A¢t' and stale wheihcr particular matters have come to my attention. B48is of independent examiner'g report My ex8minatiL)n was caTricd out in OrdanCe with the General Directions given by the Charity Commissioners. An examination includes a review of the a¢wunting records kept by the charity and comparison of the accounts presented with those records. It 81so includes ¢onsiderAtion of any unusual items or disclosures in the accounts, and seeking explanations from you as Trustees con¢eming any such matters. The prOcureS undertaken do not provide all the evidence that would be required in an audiL and nsequently I do not expSS an audit opinion on the view giv¢n by the accounts. Independent ex#mlner's statement In connection with my ¢xamin8tion, no matter has come to my attention: (l) which giv¢s me reasonabl¢ cause to believe that in 8ny material respect the requir¢m¢nts to keep OUntIng records in aCCordce with th¢ 2022 A¢t" and to prepar¢ accounts which accord with the accounting records and comply with the accounting requirements of the 2022 AGt have not bc¢n m¢( or (2) to whi¢h, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to bc Tea¢hed. Ch8rl¢s Homan FCA Chartered A¢¢ountant Spring Cottage Trotton Petersfield Hants GU31 SER 3.11.IOJ...2025 Page 8
sr MARY'S CHARITABLE TRUST NOTES ON THE FUTIDS FOR THE YEAR ENDED 31 DECEMBER 2024 FUND MOVEMENTS Uttrestricted General Fund Unrestrleted 's Fund Unrestricted Jill's Fuod Tot21 Funds Balance 1.1.2019 brought fonv&rd 4.199 Donation uest Interest Independent examination fee 75 525.000 15 150) Bal*nc¢ 31.12.19 Bc uest Interest Indepcnd¢nt examination fee 529 29 52.360 50 4,197 Balallee 31.12.20 Bequest Interesl Independent CX8mination fee 577J60 216 581.557 331,124 150 Donation to St 's Har¢field PCC B4lince 31.12.21 Independent ¢xatuination f¢¢ 30,000 301 124 577,576 882.748 (150) Donation to St 's Harefield PCC Tree work in Church Interest Balance3A.1222 t)onation to St 's Harefield PCC Independent examination f¢¢ 27 25 577 76 293 28 87S,429 150 66 Interest BAllln¢e 31.1223 577 76 285J54 Donation to St Marv's Harefield PCC Independent examination fee 150 Interest Balance 31.12.24 30,718 273395 3.691 577,576 854,562 Page 9