2023-12-31-accounts - The Friends Of St Martin's Church, Dorking

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Friends of St. Martin’s Church, Dorking

Trustees’ Annual Report for the year ended 31[st] December 2023

Charity registration number: 283966

Objectives, Activities and Achievements

The charitable objectives of the Friends of St. Martin’s Church, Dorking are the preservation, maintenance and renewal of the building of the Church of St. Martin’s, Dorking, and its fabric, furniture and fittings.

The Trustees confirm that they have referred to the guidance contained in the Charity Commission’s guidance on public benefit when reviewing the Trust’s aims and objectives and in planning future activities and the support to be provided for the year.

In early 2023, Guildford Diocese confirmed that it would not approve any applications for faculties for new developments while the Parish is without an incumbent. This limited the work that the Friends have been able to do during 2023. Initial designs for a window to commemorate the Diamond Jubilee of the late Queen had been drawn up, but given the Diocese’s position this project has been suspended. The Trustees confirmed that the Trust was willing to fund the PCC’s plans to replace the church boilers – this has received approval from the Diocese as it is for repair and replacement and work will go ahead in April 2024.

Our 2022 annual report showed our contribution to the replacement of the lighting in the church. During 2023, Mole Valley District Council confirmed that it was willing to provide a grant of £10,000 towards this work. The confirmation came too late for inclusion in the 2022 accounts, and the grant has been shown as income in 2023.

The Friends once again organised St. Martin’s contribution to the national Heritage Open Days in September. This year’s theme was “Creativity Unwrapped”, and the Friends produced a new leaflet highlighting the range of crafts used in decorating the church. Visitors on Saturday afternoon were also entertained with piano music and singing.

As the previous year’s Christmas Card had been so successful, a new card was produced featuring a tablet of the Adoration of the Magi in opus sectile and marble in the Lady Chapel. All of the initial 500 copies printed were sold, and a further 300 copies were printed and sold.

Financial Review

The financial position of the charity at the end of the financial year is considered to be satisfactory. The result for the year is shown on page 8. The charity made an operating surplus due to the lack of charitable activities and the grant from Mole Valley District Council, as described above, and an increase in the market value of the charity’s investments. The market value of quoted investments rose by £36,054 (8.3%) during 2023, in line with general market movements. The Trustees have the power to make and hold investments using the general funds of the charity.

All funds held are unrestricted. The level of reserves as at 31 December 2023 is £669,053. During 2008, the Trust received a legacy in the region of £500,000 from Miss Lambourne. The Trustees have decided to keep around half of the legacy on deposit for future needs of the church, and use the other half both to support the church in its maintenance needs, and to contribute to a major scheme in memory of Miss Lambourne and her sister. This will be progressed once the new incumbent is in place.

An informal review of the investment policy in light of current market instability was carried out during 2023. As returns were positive, and interest income increased by 263% compared to 2022, the current distribution of investments was still considered to be suitable. This will be kept under review.

The Trustees have assessed the major risks to which the Charity is exposed, in particular those related to the operations and finance of the Charity, and are satisfied that adequate systems and procedures are in place to mitigate exposure to those risks. The nature of the risks and the associated systems and procedures will be regularly reviewed.

Structure, Governance and Management

The Friends of St. Martin’s Church was formed under a Trust Deed on 2[nd] December 1981, as amended by Charity Commissioner order on 8[th] July 1998. The Board of Trustees administers the Charity in accordance with the Trust Deed.

The Trustees during 2023 were:

Lady Wedgwood (Chairman)
Mr A Dorman (Secretary)
Mrs E Lloyd-Kendall (Treasurer)
Mrs G MacLeod
Mr R Shaw
Mrs V Watts (resigned 26 January 2023)

Appointment of Trustees is governed by the Trust Deed of the Charity. On appointment new Trustees receive a detailed information pack on both their role as a Trustee and on the Charity. They are invited to attend a Trustees’ meeting before formally accepting the position and are also invited and encouraged to visit the Church to gain a fuller understanding of the issues involved.

The Trustees met four times during 2023. Day to day administration is the responsibility of the Secretary and the Treasurer.

Type of adviser	Names and addresses of advisers Name Address	Names and addresses of advisers Name Address
Banker	National Westminster Bank plc	14 High Street, Dorking, Surrey, RH4 1AX
Independent examiner	Acquis Limited	The Atrium, Curtis Road, Dorking, Surrey, RH4 1XA
Insurer	Ecclesiastical Insurance Office plc	Benefact House, 2000 Pioneer Avenue, Gloucester Business Park, Brockworth, Gloucester, GL3 4AW

Declarations

The trustees declare that they have approved the trustees’ report above.

Signed on behalf of the charity’s trustees

Signatures Full names Position Date
	Lady Alexandra Wedgwood	Elizabeth Lloyd-Kendall
	Chairman	Treasurer
	4thMarch 2024
	4thMarch 2024

Statement of Trustees’ Responsibilities

The Trustees are required under the Charities Act 1993 to prepare financial accounts for each financial year which give a true and fair view of the state of affairs of the charity and of its surplus or deficit for that period. In preparing these accounts the Trustees are required to:

Select suitable accounting policies and then apply them consistently;
Make judgments and estimates that are reasonable and prudent;
State whether applicable accounting standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements;
Prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in business.

The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Trust and which enable them to ensure the financial statements comply with applicable law and regulations. They are also for safeguarding the assets of the Trust and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Plans for future periods

The charity envisages continuing with preserving, maintaining and renewing St. Martin’s Church Dorking.

Approval

We certify that the information given in these accounts is correct to the best of our knowledge.

This report was approved by the Trustees on 4[th] March 2024.

Elizabeth Lloyd-Kendall Honorary Treasurer

Independent Examiner’s Report on the Accounts (Accruals Accounts)

Report to the trustees/ Friends of St. Martin’s Church, Dorking members of

On accounts for the 31 December 2023 Charity 283968 year ended no

Set out on pages 7 to 10

I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended 31/12/2022.

As the charity's trustees, you are responsible for the preparation of Responsibilities and the accounts in accordance with the requirements of the Charities Act basis of report 2011 (“the Act”).

I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect:

the accounting records were not kept in accordance with section 130 of the Charities Act; or
the accounts did not accord with the accounting records; or
the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached

Signed: Date: 25[th] March 2024 Name: Calum Wood ACA Relevant professional Institute of Chartered Accountants in England & Wales qualification(s) or body (if any): Address: The Atrium, Curtis Road Dorking, Surrey RH4 1XA

Friends of St. Martin’s Church, Dorking

Balance Sheet as at 31st December 2023

Notes Fixed assets Investments 2 Current assets Debtors 3 COIF Charities Deposit Account Natwest current account Total current assets Creditors: falling due within 1 year 4 Net current assets Total assets less current liabilities Accumulated fund Unrestricted fund 5	2023 £ £ 469,084 103 199,059 1,305 200,467 (498) 199,969 669,053 669,053	2023 £ £ 469,084 103 199,059 1,305 200,467 (498) 199,969 669,053 669,053	2022 £ £ 433,030 241 169,562 1,611 171,414 (498) 170,916 603,946 603,946	2022 £ £ 433,030 241 169,562 1,611 171,414 (498) 170,916 603,946 603,946
	200,467 (498)		171,414 (498)
		669,053 669,053		603,946 603,946

Friends of St. Martin’s Church, Dorking

Statement of Financial Activities for the year ended 31[st] December 2023

2023 unrestricted funds	2023 unrestricted funds	2022 unrestricted funds	2022 unrestricted funds
£ 1,011 10,000 523 12,608 6,888	£ 31,030 1,977	£ 1,452 - 376 12,810 1,897	£ 16,535 64,367
1,227 750		977 63,390

	29,053 36,054 -		(47,832) (63,373) -
	65,107 603,946		(111,205) 715,151
	669,053		603,946

Friends of St. Martin’s Church, Dorking

Notes to the Accounts for the year ended 31[st] December 2022

1. Accounting Policies

Basis of accounting

These accounts have been prepared on the basis of historic cost (except that investments are shown at market value) and in accordance with:

The Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014;
The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102);
The Charities Act 2011.

2. Investments

Market valuation at 1st January Purchase of new units Adjustments to valuation Market valuation at 31st December Historical value at 31st December COIF Charities Fixed Interest Fund (176,233.88 income shares) COIF Charities Ethical Investment Fund (57,054.12 income shares) COIF Charities Global Equity Income Fund (29,308.32 income shares)	2023 2022	2023 2022	2023 2022
		£ £ 433,030 - 496,403 - 36,054 (63,373) 469,084 433,030 220,000 220,000 100,000 50,000 100,000 50,000
			433,030
			220,000 100,000 50,000

3. Debtors

Gift Aid Income from Christmas card sales	2023 2022	2023 2022
	£ £ 103 - 171 70 103 241
		241

4. Creditors falling due within one year

Acquis	2023 2022
	£ £ 498 498

5. Unrestricted Fund

This consists of accumulated income available for general charitable purposes.

6. Donations, legacies and similar incoming resources

Donations and subscriptions Gift aided, including income tax 7. Cost of generating funds Professional fees and insurance Printing Christmas Cards and St Martin’s guide leaflets 8. Charitable activities Design for Jubilee Window Church re-lighting scheme Stained glass repairs	2023 2022	2023 2022
	£ £ 250 320 761 1,132 1,011 1,452 2023 2022
	£ £ 824 403 824 153 1,227 977 2023 2022
	£ £ 750 - - - 62,065 1,325 750 63,390
		63,390