**Report to The Friends of St Mary’s Annual General Meeting 2022** ## **2022** The year was eventful for the Friends of St Mary’s, with the church being utilised for the following: - A series of regular recitals on Thursday lunchtimes, together with concerts and theatrical productions, including the Black Dog event in the church in August, which drew a large audience. - Two exhibitions, including the ‘Happy & Glorious’ exhibition, and the ‘Authors, Artists and Agriculture in The Waveney Valley’ exhibition, both of which proved to be very popular. - A display of All Hallows embroideries sadly coincided with the death of Her Majesty on 9[th] September, as a result of which a Book of Condolence was installed in the church. - On 11[th] September, Bungay’s Proclamation Service was held in St Mary’s, and was attended by the Deputy Lieutenant of Suffolk, Joanna Spicer, along with the Mayor of Bungay, Tony Dawes, and the Town Reeve. - A project to install solar panels on the roof of the church is under consideration – a major project, but one which would have a significant on the running costs borne by The Friends of St Mary’s. ## **Receipts** - Our income in 2022 from investments totalled £17,903, compared to £18,596 in 2021. This reflects the impact of the economic situation last year. - Subscriptions and donations were lower than in 2021, which is why we have mounted a campaign this year for more engagement with the membership of the Friends of St Mary’s. - The income from the hire of the church and income from events, compared to the previous year, is considerably higher. This is partly as a result of the income generated from the two large exhibitions, including book sales, but also reflects the return to use of the church for events, post Covid, and the income generated from a series of weekly recitals organised by William Drew-Batty. ## **Payments** - Our donations to the CCT were considerably higher, which is mainly due to a donation of £4,237 towards the costs of the extensive renovations to the exterior of the church, which were undertaken by the CCT in 2020/21. - In addition, the maintenance costs incurred were some £2,195 more than the previous year, and £1,645 for capital improvements, including new lighting, the purchase of display boards for exhibitions, and an A-frame for the grand piano, enabling it to be moved for concerts, etc. - Fundraising costs reflect payment for book sales at the exhibitions. ## **Assets** - The Friends total financial assets at the year end totalled £574,276, compared to £649,713 at the previous year end. This reflects the economic impact of external events in the year, not least the economic challenges resulting from the Ukrainian conflict, and the subsequent inflationary impact on the UK’s economy. - The value of the two Hargreaves Lansdown accounts today totalled £570,547 compared to £555,951 at 31[st] December. - We are now due to pay our annual dividend share to the CCT, being 40% of the income on the Bowerbank Bequest assets. This amounts to £5,881.87 – so I seek your approval to make the payment to the CCT. IAIN HUGGINS Slacle Hou.se The Street Earsham, BunEay Suffolk NR35 2TE 01986.894403 07884.) 80()99 irhuggins@aol.com FRIENDS OF ST. MARY'S CHURCH, BUNGAY INDEPENDENT EXAMINER'S REPORT OF THE Accouwfs FOR THE YEAR ENDED 31.12.2022 Basis of Jnd¢pendent Examiner's Report My examination includes a review of the accounting records kept, and a comparison of the Accounts with those records. It also includes consideration of any unusual items or disc105ures in the Accounts, and seeking an explanation for any such items. The procedures undertaken do not provide all the evidence that would be required of an Audit, and consequently, I do not express an opinion on the view given by the Accounts. Independent Examiner's Statement In connection with my examination no Matter has come to my attention which gives me cause to believe that the accounting records required have not been kept, and to which, in my opinion, attention should be drawn to enable a proper understanding of the Accounts to be reached. lain Huggi s A.l.B., A.C.I.I. Friends of St Mary's Church, Bungay Accounts for the year to 31 Deeember 2022 Receipts Subscriptions and donations Donation for piano Hire of church & income from events Retained event cash banked* Transfer from COIF dew>sit accounts HL capital dislribulion Dividends & interest received- BB account Dividends & interest received - General account Total receipts 2022 85.00 0.00 7,100.15 0.00 2021 473.81 1.600.00 695.45 1.158.00 6.515.19 3.550.00 15,298.42 3 297.40 32,588.27 14,704.68 3 198.68 25,088.51 Payments Donations to CCT Return of donation for piano Church maintenance Capilal improvements Transfer lo investments Fundraising costs Insurance Miscellaneous and admin Tolal payments 10.356.01 6,301.84 1.600.00 1,416.13 3,569.40 9,550.00 46.86 1,687.23 2 320.91 26,492.37 3,611.66 5,214.58 2,164.35 1,851.26 3 234.40 26,432.26 Surplus/Deficit for the yeAr Total receipts Tolal payments Surplusldeficil for the year 25,088.51 26 432.26 -1,343.75 32,588.27 26 492.3 6,095.90 Wall safe cash received and banked 383.54 181.80 Retsined event eAsh £1.158.00 banked 14 Sep 2021 £261 retained as cash floal Friends of St Mary's Chureb, Bungay Accounts for the year to 311¢ December 2022 Assets as at 31" December 2022 Lloyd's Bank account Share portfolio & Brokcr BB account Share ￿rtfoliO & Broker General account Petty Cash Retained Cash Total assets 2022 18.064.11 {B) 475,354.25 (A) 80,597.03 (B) O(B) 261.00 (B) 574.276J9 2021 19.407.86 541.482.50 88,561.03 0.76 261.00 649,713.15 SummAry of assets as al Deeember 2022 Bowerbank Bequest assets BB donation due lo CCT for 2022 General ac¢ount assets Total #ssety as above 469,472.38 (A-C) 5.881.87 (C) 98 922.14 (B) 574,276.39 535,363.13 6.119.37 108 230.65 649,713.15 Note: The agreement between the Friends and the Chur¢hes Conservation Trust forlhe division of the dividends of ihe Bowerbank funds, was 600/01400/0 in favour of the Friends, and was for 10 years ending on 31° December 2018. It was agreed ai the Friend's committee meeting on 61h July 2020 to Continue apportioning dividend income on the same basis. and make paymenl to the CCT. BB dividends and interest as per accounls 14,704.68 15,298.42 Retained by the Friends Due io CCT Total income a5 above 60fy/0 4￿/[+ 8.822.81 5 881.87 (C) 14,704.68 9,179.05 6 119.37 15.298.42 IAIN HUGGINS SladL House I'he Street Ear¢iham, Bungay Suffolk NR35 2TE OJ986.894403 irhuggins@aol.com FRIENDS OF ST. MARY'S CHURCH, BUNGAY INDEPENDENT EXAMINER'S REPORT OF THE ACCOUNTS FOR THE YEAR ENDED 31.12.2022 Basis of Independent Examiner's Report My examination includes a review of the accounting records kept, and a comparison of the Accounts with those records. It also includes consideration of any unusual items or disclosures in the Accounts, and seeking an explanation for any such items. The procedures undertaken do not provide all the evidence that would be required of an Audit, and consequently, I do not express an opinion on the view given by the Accounts. Independent Examiner's Statement In connection with my examination no matter has come to my attention which gives me cause to believe that the accounting records required have not been kept, and to which, in my opinion, attention should be drawn to enable a proper understanding of the Accounts to be reached. lain Huggi s A.l.B., A.C.I.I.