The Ipswich Historic Churches Trust Ltd Compan). Number 1457990 Registered Charity Number 278924 A Company Limited b) Guarantee Report and Financial Statements for the year ended 31 December 2025
The Ipswich Historic Churches Trust Ltd Content5 Reference and Administrative Inforniation Tru5tee'5 Teport Independent examiner's report Statement of financial activities Balance sheet Notes to tbt flnancial statemellts
The Ipswich Historic Churches Trust Ltd Reference and Administrative Information Charity Name The Ipswich Hisioric Churches Trust Lid Charity Registration Yumber 278924 Company Registration Number 1457 Regfistered Office SaraLens House Buginess Centre 25 Si Margarets Green Ipswich IP4 2BN Trustoes Mr PJ Brooks Mr J S FiLld Mr R W Allen Mr% V A Bint Mr% CI F Brooin Mr M A F.vans Mr R J Kindrcd Appolnted By Meiiibers MiiTJb¢'rb Meinbers Appointed 17 July 2025 Mcinbers Borough Meinbers Borough Chair Vi¢L" Chair Appointed l O June 2025 Mr C J Kreidewolf Mrs l E LvLkirtgton Mi.*5 L J Mortimer MrR WPope MrARaL Mr5 K J Salter Mr M J Shamian Mr D J Vincent Dr J B Warr¢n ljorough Borough Resigned 10 June 2025 Borou¥h Borough Meinbers Meinber5 Borough Mcinbcrs Appointed 17 July 2025 Membcrs Bankers Co-operdtive Bank PLC PO Box 250 Skelmersdale WN8 6WT Solicitors Birketts LLP 141- 145 Prince55 Street Ipsiyich Ipi IQJ
The Ipswich Historic Churches Trust Ltd Trustee5 report and revieiv The Trustees (who are also directors of the charity for the purposes of the Companies Act) present their annual report iogethei with the futhncial statements of The Ipswich Historic Churches Twst Limited (Ihe company) for the year ended 31 Decembcr 2025. The TrustCC5 confirm ihal the Annual Report and fiiiancial statcmcnts of the company comply with ihe curreni sia¢uiory requirements, the requirements of the company's governing document and the provisions of the Statement of Recommended Praciice (SORP). applicable io chariiies preparing their accounts in ac¢ordanc¢ with thc Financial Reporting Standard applicabl¢ in th¢ UK and Rcpublic of Ireldnd IbRS 1021 Icffcclivc l Jdnuary 2015). SinLe thc company qualifies smdll under Section 383, the siralegic report required of medium and large companies under The Companie5 Act 2006 {Sirategic Report and Director's Report) Regulations 2013 is noi required. Structure, Governance And management The Trusi .S incorporated as a private limited company limited by Guarantee in 1979 and is regvulatLd by the mLmorandum and articlcs of associalion. TNstccs arc appointed by IpsH'ich Burou¥h Council or by m¢mbcTra at an Annual Gcncral M¢cting. Up to liv¢lv¢ Trustc¢s may be appointed by Ipswich Boroug)h Council and %ix by members of the Tru41. The Bi)rougYh now by custom and u.sc oiily appoints ihcir Elcclcd oificcr mcmbcrs (3) aiid accep14 Ihc Members appoini oihers as needed. Appoinimeni as a Trustee is for ihree years bul Ihe appoinlmcnt can bc rcncwcd. It is anlicipalcd that funhcr discussion on this will bc rcquircd during 2025 a5 futur¢ stru¢tur¢ of Local CJov¢rnmont is irnmincnl. This discussion was not Lompleled in 2025 and will gyo on inio 2026. The Tru%1 has a managemeni board lo which all Truslees are aulomalically appointed. All major dccisions arL madc by Ihc managFcmcnl board. ThLrc arc also SLvcral sub Lommillccs dealing with specific issu¢s. Trustec5 are appoinied to the sub committees as required. Thc sub committees can appoint exlernal adi'isers 10 help with their work. All Trustees are unpaid and there are no employee5. We welcome Colin Kreidewolf as newly appoint BorougFh Truslce replacingi Lynnc Mortimer. The membLrs have appointed Mrs Val Bint and Dr John Warren a5 Trustees and welcome them to ihe Board. Aim5 & Objectives, Public Benefit The primary objective of the trust is the preservation and maintenance, for the public benefit of rcdundant churchcs of all dcnominations in thc Borough of IpSIch which arc of historic or archileclural valuc. Currently. the Trust holds long Icascs on four redundanl churches in Ipswich granted by Ipswich Borough Council. the freeholder. The Trust also holds a walLhing brief for other redundant LhurLhes in Ihe iom'n. The four LhurLhes are Si Peter, St Clement, St Lawren¢e and Si Steph¢n. The Trust airn is to seek alternative uses of the churchc5 having rcgard to the Icgal and other constraints imposcd by: the tems of the Trust's own lease planning and listed building controls grant conditions restrictions imposed on the transfer of the churches to the Borough by the Church Commissioners
The Ipswich Historic Churches Trust Ltd the condition of the buildings. The Trust tries to match aN'ailable funds with grdnts to undertake works of strnctural and external repair. Historically, regular grnnts are made by Ipswich Borough Council. Grants for specific projects are provided from our sources. The Trust applies any income gencrdtcd from the churche5 in norn]al n]aintenancc and in buildiiig reserves for future works. Sources of income The Trust ha5 dboul 80 mcmbcrs who pay an annual sub5cripliun or a life ineinbcrship. At the dale ot-this repon the subscripiion rates are £10 for annual membership and £1 00 for lite ernbership. Ipswich Borough Council pay5 amounts to pay for some of the general mainrcnancc of ihc churches, and has ihis ycar commiiicd io fund repair works idcniified in th¢ 2020 quinqiicnnial rcports on a rolling, programmc. Thc Trust also rcc¢ivos boqucsts or donations for %peeific repairs or actii'ilie.%. Oiher small amounts of inconie coine froii) the sale ot inlormalion leallel.q and donations for using Ihe bells in the churcheq. In addition, the Truqt is able lo s¢¢k ¢haritabl¢ donations from outsid¢ Charities who hav¢ funds io assist with our work. St Clement's Church In 2023 we r¢port¢d ihai the works io level (he floor and provide ihe firsi phase of the plan havL bccn implcmcnlcd, and that Ihc sccond phasc lo insiall ioilcls, which involvcd ¢onn¢etions to sewcrs, wat¢r and upgrnding olc¢irieity dislribulion was ¢omplolcd in 2024. This work iyds lunded by ValenLia Communities Fund and a private donor. In the year 2025. we hal'e upg?raded the fire alarni sysiem and installed some on peak lieating lo LxlLnd Ihc ILltin&' pcriod. WL havc bccn girLaily assisiLd by Rotary Orwcll who havc repaired and added to the s¢aiing in the churchyard as w'ell a5 maintaining areas aftd planting bulb5. Thc churchyard is now bccoming a dclighiful grccn urban spacc. Our neighbOu on the old Church Hall site ran into ihe brick and iron railing fence and Ihis 15 now rcstorcd and much ncater. Leitings have been good and repeat uses are becoming the nom). St Lawrence Church Last year it was reported. 'Little has changed since w¢ reported last year until the Quinqucnnial Inspcction in Dcccmbcr rcvcalcd a bulgc in ihc flint eladding on thc south sidc of the I0'¢r. Oncc idcnti ficd IBC Building Control were advised and scarrolding erected almost immediately to protect the public from any risk of falling stonework. Works will commenLe in April after the winter frosts 10 repair the flinl. This is part of the quinquennial work and will impact th¢ ord¢r in which IBC Cary out their agreed funding of the works." During 2024 IBC appointed AhlIe¢l$, Quantity Surveyors and Contractors. and reviewed and designed the project. but the fr05t-free M-indow. to coJnplete the liine work was lost so the works commenced in 2025. The lower is currently wrapped in scaffold which is then wrapped and 'OrkS continue this winter. We are looking forward to a glorious emergence in the spring when the lower is visible again.
The Ipswich Historic Churches Trust Ltd The Trust has leased the church 10 Realise Futures Community Inieresi Company. The annual lease payment is £ 11,240.00. The Trust also rents out various parts of the churchyard and former boiler house to a neighlKTruring coffee shop and others for an amiual rent of £776 during the summer months. The concern ihal the churchyard was being used by gangs for drng dealing and general rowdiness has subsided, the Trustees. Building Sub C"ommittee were part of a co-ordinated Borough, County and Police actions to seek a peaceful end lo this behaviour. and li appears to hav¢ r¢licv¢d th¢ situation. St Peter's Church It has becn a quici ycar in Si Peicr's al ihc Waicrfronr and as last year ihc Trusi has leascd Ihc hurch to thc Ipsw'ich Hospital Band Ltd. Thcy opcratc as thc ¢ontrc for thc Hospital Band and a venue for fund raisii)g aclivilies for the local hospiial. The rent was last iiicreased from £3.500 p.a. lo £3964.00 p.a. During the year no major works lo the church have been carried out but the Trusi has 5UCCCSsfully lobbicd thc Borough Council to cary out rcpair and maintcnancc to the churchydrd and boundary walls. St Stephen's Church This Church is no longer in our control. Last y¢ar ive reported that the Borough has worked hard on Si Siephen5 ihis year and il is now open regyularly a music and perfonnanLe Lentre. The Tru%1 wi%he% lh¢ Borough well wilh Ihi% i'enlure and congyralulales Ih¢in on lh¢ works. and we are delighted thai here 100 more people are seeing in8ide one of our gloriou8 mediei'al LhiirLhcs. It hab bLcomL a succcss. Quinquennial Inspections Thc Trust has SOUgTht funding lo carry oul the works set out in Ihc QuinquLnnial rcports and is delightcd with the Borough'5 resrKinse. Tenders for the professional ivorks were sought in 2023 and Nicolas Jacob Architects are now appointed and have commenced a new in%pection, the immediate repairs to St Lawrence are uiiderway see earlier. Building works will bc happening later in 2026 on the most prcs5ing iteins in the report5 011 St Peters and St Clements. The Reports are now in and set out a long road of works to care for our medieval structurcs. Wc will nccd to continuc to raisc funds into thc futurc and thc Board is committcd lo the task. Report pr reJLby1e ruslees F<Brooks Chair
The Ipswich Historic Churches Trust Ltd IndependeDt Examiner's Report I report ort Ihe a¢iuuni% of The Ip%wi¢h HJ_%ion¢ Chur¢he% TnL%i Ltd f()r ihe year ended 3 1 De¢ember 2025 which are sei oiit on pages 8 ro I l. Respective responsibilities of trnsiees and examiner The Charity's Trustees are responsible for Ihe preparaiion of the accounts. The Charity's Tru5tee5 considcr Ihai an audit is noi required for this year (under sceiion 144 12} of the Charities Aci 2011 (The A¢1} bul Ihai art itxdependeni exthminaiion is n¢eded. It is my responsibility to.. Examinc th¢ a¥¢owils und¢r s¢¢tion 145 of th¢ Chon"ti¢s A¢ TL) f(Illvw ihe PToL¢duTes laid duwn in ih¢ G¢nei¥l Dir¢ctions given by the Charily Coynn]i55itsners lundeT Section 1451Sllbl of the Charities Acr. and To siatc wheiher particulor maitcrs have ¢om¢ to my attcniion. Ba$1$ of Independent examlDcr's SiietheDt My examination was carried out in accordance with the Generdl Direciions given by ihe Charity Cummi4siunLr4. An ¥xJminaiion inLludLs o review of Ihc a¢¢(buniinbT rLLvrd% k¥pi by IhL ChaTily anLI J con)pariyoD of Ihc ac¢ounis pr¢scniid w'iih thos¢ r¢¢ords. li also includcs ¢on5idcrations ol'any unusual iicms tsr di1()Ur¢S in the a¢¥ounis, and s¢cking ¢xplanaiions from you a¥ trus1¢¢$ ¥on¥¢rning any 8u¥h matt¢r%. Th¢ proi¢Juris und¢Mak¢n noi provid¢ all th¢ ¢iiJ¢n¢¥ ihai would b¢ rcqiiir¢d in on aiidit and cons¢qu¢nily I do noi ¢xpr¢ss an audii opinion on th¢ view giv¢i) by th¢ aLLounis. Ind¢penden¢ tx#mln¢r'$ st¢tm¢nl In thi Loursc of my cxaminalion, no matcrial mallcrs havc comc to my altcntion which gives me ¢aus¢ to believe thai in, any mai¢rial re$pc¢i'. th¢ accounting record5 wcrc not kcpt in accordance wilh 5e¢iion 130 of the C.haritlC5 Aci; or thc accounts did not aceord with ihc accounlins records: or the a¢¢ounis did noi comply with Ihe applicable wuiremenis concerning ihe forni and content of the aLLount% Xel out in thL Charitie% IALLounts and RLponsl RL'8ulaiions 20014 oihLr ihan any rL'quifLmLnt that the accounis 8ive a 'true and fair, view whicli is noi a mailer considered as part of an independent cxamill421ion. I have come aeros5 no other mailers in conneciion with ihe examinaiion lo which attention should be drawn in thi5 report in order to ¢nabl¢ a proper und¢T5tanding of the acrounts to b¢ reached. David Collrtier FMAAT AATQB for and on half or.. Community36(1 Win51ey'5 House. High Street. Colche5ter Essex. Dale 31" July 2026
The Ipswich Historic Churches Trust Ltd STATEMENT OF FINANCIAL AcfiviTIES Unrestricted Restricted funds funds 2025 2025 Total funds 2025 Total funds 2024 Noie Donations and legacies 14,876 1,905 16,781 25,713 Charitable activities 20.751 5,188 25,939 25,0.16 Income from investments 326 326 359 Total 35.953 7.093 43,046 51.108 Resou¢$ expended Charitable activities 4 (35.2711 (35.271) 125.3551 Govcrnancc costs 4.769 4,769 (4.237) Total 30.502 30.502 29,592 Nct incomci'lL.xpLnditurc) before tran5fLr bc¢wccn funds 7,093 12,544 21,516 Transfer between funds 11.¥20 11,820 N¢1 mov¢mcnt of fund5 11.820 4.727 12,544 21.516 R¢¢on¢iliation of funds Funds brought fon¥ard Net movement in funds from aboTrc 24.526 4.727 29,253 7,737 11,820 (4,727) 12,544 21,516 Fund5 carri¢d fonyard 36,346 41,797 29,253
The Ipswich Historic Churches Trust Ltd BALANCE SHEET AS AT 31 DECENIBER 2025 2025 2025 2024 2024 Note Fixed assets Tangible assets Total Current assets Prepayments and accrued income 3,777 359 Cash at Bank 45,415 41,182 Total current assets 49.192 41.541 Crediiors: amounis falling due within onc ycar Net currcnt asscts {7.395) (12.288) 41,797 29,253 Nel asse15 41.797 29.253 Charity Funds RLslriLILd funds Unrcstrictcd funds Total fund5 4,727 24.526 29.253 41.797 41.797 For the ye¢ir ended 31 Delember 2025 the Trus1 W41% enliiled io exemplion froin the requirement lo have an audit under seclion 477 of the Coinpanies Act 2006. No noliLe ha5 been deposited wilh the Trusi under seLlion 47(). requiring an audit of thcs¢ financial stalcmcnt5 und¢r thc ruireM¢nlS of the Companies Act 2006. The Truslees acknowledge Iheir responsibility for. ensuring the Trust keeps accounling records in accordance wilh FRS102 SORP,. prcparing financial statcmcnts which givc a trne and fair view of the statc of affairs of the Trust as at the end of its financial year and of its net income for that financial ycar in accordancc with FRS102 SORP.
The Ipswich Historic Churches Trust Ltd BALANCE SHEET continued The financial statements have been prepared in accordance with the special provisions of part 15 of the Companies Act 2(K16 relating to small companies. Approved b the T s on 9th July 2026 oks Chair Thc not¢s on pagcs I I to 20 forni part of th¢sc financial statcmcnts. 10
The Ipswich Historic Churches Trust Ltd Notes forniing part of the financial statements for the year ended 31 December 2025 1.1 Basis of accounting These accouiits have been prepared under the historical cost conTrention with items recognised al cost or transaciion value unless oihenvise slated in the relevanl nole(s) to these accounts and with the Statement of Recommended Practice.. AceountiT]g and Reporting by Charities preparing their accounts in accordance MTlth the Financial Reporting Standard applicable in the UK and RLyublic of Ireland {FRS 102) issued on 16 July 2014, and with ihc Charities Act 2011. 1.2 CyOillR concern The trustees believe that the charity has the ability to continue for the following r¢asons. Two churchcs are let. Thc charity rcccl'cS rcgular grants to dcal with thc onbyoing repairs io the churches. The charity has sufficieni funds to deal with all costs and expen5e5 for the foresecdble futur¢. 1.3 Change of accounting policy ThL accounts prLtsL'I)t a Irue and fair view and no Changes havc b¢eii niad¢ to Ihe accounling policies adopicd in noic 2 1.4 Ac¢ountlng estlmates Therc have bccn no accounting cstimatcs madc in ciihcr of thc two ycars rcponcd in thi8 document. 1.5 Material prior year errors There are no material errors in the prior year's a¢eounL8. Cash Flow The financial siatemenis do not include a cash flow staicmcni bccause ihe charity, as a small reporting entity, is exempi from the requiremenl lo prepare such a statement undLr I'-inancial RLporting Standard I "Cabh flow stdicmciiis." 2 Accounting policies 2.1 Ineomc A) Recognition of ineome Income is included in Ihe Statement of Financial Aclil'ilies (SOFA) when the charity becomes entitled lo the resources and the monetary value can be me&sured with sUlLIent reliability. B) Offsetting Thcrc has been no offsetting of assets and liabilities, or income and expenses. C) Grants & donations Grants and donations are only included in the SOFA when the general income recognition criteria are met. D) Legacies Legacies are included in the SOFA when receipt is probable, that is, when there h&s been grant of probatc. thc cxccutors have cstablishcd that there arc sufficient assets in
The Ipswich Historic Churches Trust Ltd the estale and any condition5 attached to the legacy are either within the control of the charity or hai'e been mei. E) Government grants The charity has receiN'ed no government grants in the reponing period. F) Tax reclaims on donations and gifts. Gift Aid receivable is included in income when there is a valid declardtion from the donor. Any Gift Aid amouni recoi'ered on a donation is considered io be part of that gift and is tr¢atcd as an addition to thc sam¢ fund as thc initial donation unl¢ss thc donor or the lernis of the appeal have spccificd otherwise. G) Donated goods. There have been no donated goods in ihe period. H) Interest Income. This is included in the accounls when receipl is probable and the amounl receivable ¢an be m¢asur¢d reliably. 2.2 Expenditure And Liabilitie5 A) Liability recognition Liabilities arL' rL'Lognised where li is MO likely than not thai ihere is a legal or construclivL obligiation committingi Ihc chariiy io pay out rcsourccs and thc amount of thc obligation ¢an bo m¢4sur¢d with rcasonablc ¢¢rtainty. B) Ciovern4nce support cost. Suppori costs have been allocated between governance cosls and oiher support. Goi'Lrnancc cosis comprisL' all costs involving public accouniability of IhL charity and its complianc¢ w'ith regulation and go(xl prnclic¢ C) Grants with performance condition$ Thcre wcre none in Ihc ycar or thc prei'ious year D) CNrAnts pATr'able il'lthout performance condltions 'I'here 'ere none in the year or the previous year. E) Redundancy cost The charity made no redundancy paymenls during the reporting period or Ihe previous ycar. F) Deferred income No mdlerial item of deferred income has been included in Ihe accounts for the current or previous year. G} Creditors The charity ha5 creditor5 which are measured at settlement atnounts less any trade discounts. 12
The Ipswich Historic Churches Trust Ltd H} Provisions for liabilities A liability is measured on recognition at its historical cost and then subsequenily measured at the best estimate of the amount required to settle the obligation at the reporting dale. No provisions for liabilities have been included in the accounts for the current or previous year. I) DCMS VAT Reclaim The Departmeni for Media Culiure and Spon sei up a fvnd called The Listed Places of Worship (LPW) Grant Schcmc. This givcs grants that covcr thc VAT incurr¢d in mdking rcpairs lo li5tcd buildings in usc pldLcs olworship. -l-hc SLlicmc Lovcrs repairs to Ihe fabric of ihe building. along wilh associated professional lees, plus repairs to turret clocks. pews. bells and pipe organs. A claim was subrnitled in early ?025 for work carried oui in 2024. A rther claim was submiircd in 2025 for w'ork arri¢d out in that ycar. Thc trust has On told that most of thc Claim was approv¢d and paymeni has been received in 2026. This has been included iii these accouni J) Basle flnanclal Instruments ThL chariiy accounts for ba.qic financial instrnments on initial recognition as per paragraph 10.7 FRS102 SORP. Subscqucnt mcasuremcnt is as paragraphs 11.17 to 11.19. FRS102 SORP. 2.3 Assets A) Fixed Assets Thc trust cniered into a lease for ihe four churches on I l December 1980. The lern] is 99 years from 15 December 1980. No renl or lease premium 1% payable duriiig¥ Ihe life ol. the lease. A5 the as.8ei.s are listed buildings and date back hundreds ot year8 it 18 noi POSsiblL lo pul a valuc on Ihc asscl. B) Current asset ini'es¢men¢s The%¢ iii¢lude cash 011 depo.sit and c&sh equivalent8 with a maturity date of less Ihan onc year hcld for invc5tmcni purposes raihcr than to meet short Icmi cash commitments as Ihey fall due. C) Debtors Debtors {including trdde debtors) are measured on initial recognition at settlemeiil amount after any tradc discounts or amount advanced by the charity. Subsequently, they are measured al the cash or other consideralion expected lo be receIed. 13
The Ipswich Historic Churches Trust Ltd 3. Analysis of Income 2025 Unrestricted funds 2025 Restricted funds 2025 Total funds 2025 Total funds 2024 Donations and legacie5 General Grants Donations & gifts Membership Subscriptions Othcr Total 14.400 55 421 14,4(K) 1.960 421 13,000 12.225 48X .905 14.876 1.905 16.781 25.713 Charitable activities Relit & Contribution to 20,751 20,751 25,036 Gift aid DCMS VAT R¢¢laim Other income Total 5.188 5.188 20,751 5.188 25.939 25.036 Income from investments Inlere%l Income 326 326 359 Toial Income 35.953 7.093 43.046 51.108 14
The Ipswich Historic Churches Trust Ltd ANALYSIS OF tNCOME CONTtNUED 2024 Unreslricled funds 2024 Restricied nds 2024 Total funds 2023 Donations and legacies General Grants Donations & gift5. Membership Subscriptions Other Total 13,000 304 488 13.000 12,225 488 11.921 13,792 11,921 25,713 Charitable activities Rcnt & Contribution lo 25,036 25,036 Gift aid DCMS VAT Rcclaim Oih¢r income 25,036 25,036 Income from investments Interest Income 359 359 Total Income 39.187 11.921 51.108 15
The Ipswich Historic Churches Trust Ltd 4. Analysis of expenditure Unrcstriclcd runds 2025 Rcstrictcd runds 2025 Total funds 2025 Total runds 2024 Expcnditure on.. General church repairs St Clemenl redci'clopment Security Othcr direct costs 19.488 19.488 3,736 10.241 4.767 775 10,241 4.767 775 18,315 3,280 24 Total expenditur¢ 35.271 35.271 25,355 Governance Cos15 Insuranc¢ Web sitc Regiqlered office Ind¥pLI)dL'nl examination Othcr gpovcmancc costs 15.196) (5.196) 3.176 142 142 92 285 285 745 224 4,237 4.769 4.769 Total expcndilure 30,502 30,502 29,592 16
The Ipswich Historic Churches Trust Ltd Unrestricted funds 2024 Restricted funds 2024 Total nds 2024 Expenditure on.. General church repairs St Clem¢nt redevelopment Security Other direct co818 3,736 3,736 18.315 3.280 24 18.315 3.280 24 Toial expenditure 25.355 25.355 Governance costs In5urdnce Web 8lte R¢g?istcrcd officc Indcpcndcnt examinalion Other giovemance costs 3.176 3.176 92 92 745 224 745 224 4.237 4,237 Total exp¢nditure 29.592 29,592 17
The Ipswich Historic Churches Trust Ltd 5. Prepavment5 and accrued income 2025 2024 Accrued Income 3.777 359 Total 3.777 359 6. Cash at Bank 2025 2024 Redwood Deposit account 11.439 11.080 Co-op curr¢nt account 33,976 30,102 Total 45,415 41,182 Short lenn deposit5 are held in Redwood Bank PLC and is subject lo thirty five day%, Iiolice. 7. Accruals and deferred Income 2025 2024 Trade Creditors 243 Accruals and deferred income 7,152 12,288 Total 7,395 12,288 18
The Ipswich Historic Churches Trust Ltd 8. Statement of funds 2025 Transf¢r beiw'een funds Closing Funds Opening Income Expenses Restricted Elizabeih Walter St Clcmcnts VA-r reclaim 4.727 {4.7271 {1,9051 {5.1881 1.905 5.188 Totyl Rcstriclcd Unr¢stri¢t¢d Incownc General Sl C lements costs 24.526 35.953 (20.2611 (10.2411 4.727 44.945 7.093 13,1481 Total Unres¢ri¢ted 24.526 35.953 30.502 11.820 41.797 Toial 29.253 43.046 30.502 41.797 Thc Elizabcih Walicrs award is rcstriclcd lo work carricd out on St Lawrcncc. During thc year the iruslee agreed lo coniribuie io the replacement of (he boiler in the church. The ontribution wa% larger than the restricted funds held by the Irustee. St Clcmcnt5. Furthcr works havc bccn in Ihc ycar and will coniinuc lo bc undcrtakcn in this hurch to allow it to be used throughoul the year. The trust is able lo recover V A T on ihe works Irom Thc Dcpartmeni of Culturc Mcdia and Sport. Thcse funds arc not restriclcd. The Trustees consider that th¢ funds should be used lo defray the costs for St Clemenls. Granls awarded by other bodies are restricted lo some of the works in Sl Clements. Again. the IrusiLLs rccord IhL grants as rcslriclcd and offsci thcsc grants againsl Ihc costs of works for St Clcments. 19
The Ipswich Historic Churches Trust Ltd Statement of Funds continued 2024 Transfer bctwccn funds Closing Funds Opening Income Expenses R¢striLt¢d Elizab¢th Waltcr St Clemenis VAT rcclaim 4,727 4,727 11.921 (11.921) Total Rcstrictcd 4,727 11.921 11.921) 4.727 Unrestricted Income (i¢n¢r¥l St Clements costs 3,010 39.187 111,277) 118.315} 30.920 11.921 {6.3941 Total Unrestricted 3,010 39.187 29.592) 11.921 24.526 Total 7,737 51.108 29.592} 29.253 9. Detai15 of certain item5 of expenditure Independent examiner's fees paid £275 including V AT (2024 £340) No fccs wcrc paid for assurancc oihcr than indcpcndcnl cxaminalion, tax advisory and any other fe¢b. 10. Paid employees Thcrc wcrc no cmployee5 during the year or the previous year. I l. Transactions with trnstees and reliied pirties No trustees were paid in the year (2024 £ Nil) for expenses incurred on behalf of the trust. No iruslee received any remuneraiion or received any other benefits from any employment with the Charity or a related entity. 12. The Ipswich Historic Churches Trusi Lid is a company limiled by guarantee. 20