Moore Thompson THE BOSTON STUMP RESTORATION TRUST CHARrrY COMMISSION REGISTERED NO. 507699 FINANCIAL STATEMENTS for th y•ar ondgd 31st Dacombor 2023
THE BOSTON STUMP RESTORATION TRUST Indox for Iho year ended 31st Docembor 2023 INDEX 1-2 Trs, Annual Rep(xt IrKl8pend8nt ExAmin8rf8 Rwrt 4 Si81•ment of Fin8n(ial Aclivili08 5 Ststement of Finandal Positl(Jn 6-10 Notes to the ACCnts
THE BOSTON STUMP RESTORATION TRusr Trustsg8' Annual Report fortho yoor fjnd 31st D•G•mbor 2023 Th• prngent tholr rwort arKI financial stthmgnts of th• chaily for th• year ended 31gt Decomber 2023. The Iru81898 havo adopted tha provtsions of Stalqmant of Recommgnded Pra(lca ' COtIng and Reportlng by Chwllleg {FRS 102> tn pr•parlng Ihe nUel rewt and flrde181&t9ments of the charlty. The Boon Stunp Restoratlon Tru8118 a r8tered chorlty th the Charlty Conwnlsslon. Red5trallon mber Is 507699. The charfty18 con8titsrted by way of sdard reklstrallon and was reglstared on the 28 June 1978. TP wl8tered addrB8B18 The Rectory Offe8, 1 Worrrwe. B(th, PE218NP. chaltys truees arn as b81ow:_ R. Jane Ellzabelh Roberston R¢v. Al1n xtOn Mr Paul CoDper Mr ChrlstOFther Ladner Mrs Mariannce Lauls Falrman Rov. Sally Ann Cllfton (Appolnt•d 8 July 2023) Th profry88ional adviB•r810 tho ¢arty are as bg1ThY:_ Moore Thory8on. Bank Fk•u8e, Broad Street, Spgldlng. LlnMkn8hlre, PE111TB CCLA, etOr HDu8e, 85 e0n Vlctorla Streot, London, EC4V 4Er LW8 B8nk. 51 Mwket pl0, Boston, LInc1n$hIr8. PE216NQ Bfjrclays Bank Pk. 52 Market Plxe, Boston. LIn1nhIre. PE21 eLU St Jam8s'8 Place Vveallh Management. st Place Hou89, 1 Telbury Road, Clrencester. Glouceslorshlre. GL7 1FP. The obiothoB of tho Ghwlty lo provlde restrjrallon. devpmert ImFYovernrt rnakntsnan and r•pair of tho Pariah Chwch of Salnt Botolph. Boston In the DIoca88 of Uncoln, its fumliure and omam8nt8 arKI 8CL488i881il property conn8ctuJ thora%th (Includirva the (urch Hou8• at 1 Wormgata 8nd the Bletln mOal Hall). The truste88 nSIder that the ObCtIVeS and actlvlde8 of Ihg tharlty are In accordonce wlth the Chorty ConMni88ion8' g•Mal guldanco on putllc b8nefft. The charlty doas not undert fvndralslw actmtles dlrect wllh tho publl At the 31 December 2023 there %Tre unrestrlcted fuTrJ8 un8pent and carried foThvard of £1,243,820 arml £NII restrict fur• oaThied fryward, giving overall fvnd8 of £1,243,820.12022: Unre8lrthd - £1.018.199 l Restlcaed £Nil). Fund8 re receNed In tho year from1•gac1 totalliry £200,000, plry from donatlon8. The maln eXp8ndre w88 In relatlon to Fabrfc ManageV8 wag08 and ongoing rnpair co818 for th• Parish Church of Saint 8cloh. £25.000 rernln8 de8ignated by the charlty to donated to the PCC of the Parf8h of Boston lo help flnanca the renovation work to ba dono lo tho Library held 1th1n th• Parfgh Curch of Salnt B¢)tolph. Plus a further £6.250 agreed to be dated to the 8ame PCC tt> help furKI the PLwchage of ¢qpment in Iha nY ranovated Blenkln MenM)Tlo1 Hall by the PCC of the Par18h of Boston. Concem Rovlew Th8 charfty has large level8 of cash and invastmenl rns8rves dua to larg81ogaci8s rwAivad over ih8 preVIS cow of ar& As a rg8uIt therg Is degmed no golng ¢>Jncwn Issues for the charlty. Pago 1
THE BOSTON STUMP RE8TORATION TrUST Tru8tsoB' Annual Report for tho yur endod 318t D•c•mbw 2023 8k min The trustees have as89gsed th• rfsks to wthlch the charlty is exposed. In parllajlar r•lated lo the rnanagement of Its Inve8bwnts and ffflances aThl we 8allsfiod tt the sYsts In platx 8ufficionlly mage Its exposwe to th880 rf6ks. Tho Irustses have a180 <knlop8d thrvJ V4f)rldng r8latlon8hip8 88818ilrvJ bodlos vtho are able lo provlde professlonal a(hlca en rowired. Du8 to the Incroa88d lev•1 of roBofvg3 the charfty now hold8, not only does It uses the CCLA, Uoyds arKI Bwclays Bank for ts banklng and d•pwil4 Iwt has al80 Ne8ted £675,OW th Investrn fvnd m8nage St Jame'8 Place. This Inve6kn polloy Is cthisldered r¢a8Mablo and In Ilrn 1th tho Irusi893' rl8k m8n8g8m8nt level8. r P 0per On behalf of o Trustees Page 2
Independent ExamlneV• Roport to the Tru8ts•8 of THE BOSTON 3TUMP RESTORATION TRUST for tho y•ar •nded 31st Dac•mlxbr 2023 l rnport to Ihe charlty trus8 on my •x8minotion of the accounts of the tharlty for the ar eTrJed 31 December 2023 thich are 8el out on page8 4 10 10. R••pon•lbllttl•• and ba•1• ol r•port AS the charitys lJustee8 are rosponslble for the prepar8don of the arUrts in accordance with the rnquirement of the Charlllas Act 2011 (w Acr). I report In r88Pt of my examlnatton of the clwltys a(nts carrled (Art urnler Secti 145 of tho Art arKI In carrying out my exInatIon I have follo1 all the applic8ble Direclion8 d¥8n by Ihe Charity Commlsslon under 8¢cllon 145(5Xb) of th8 Act Ind•p•ndqnt •xamIn 8tat•m•nt I have Clple18d my axsminotion. I confirni thal no rnaterlal matters hava come to my attenllon In comectlon examlnation givirvJ me ¢xuse to bollm Ihat In any rnalerfal respect l. accolmlng reccrfds re nol kept in respect of the charity as required by sectlrm 11) of ts l¢ or 2. th8 acGoun13 do rK)t accord those records; or 3. the do comply Mgth the p1kable requirBments concemlng the lorni and content of a(xounts 9et out in the Chwth88 (AcGounts Worts) Regulatlons 2008 other than 8ny raquirement that the ac£ounts g1 a 'tNe falr vknlth18 not 8 mattér consKlered a8 Part of an ind8pendent examtnallon. I have no concrrA hav8 come across no other matter5 In ¢xnnaction wilh the exaMInati to attenlion shId ba (trawn in th18 report In order to able 8 proper darstarJ1ng of the accwnts lo be rnached. H. J. Brlght BA, F.C.A. C.TA Moorn Thomp80n Chartered Accolmtants Spaldlng Data: ...Al4.".¥.:...4.N........ Pago 3
THE BOSTON STUMP RESTORATION TrUST Stat•ment of Flnanclal Actlvltl•s for the y•ar •nded 31st Decembor 2023 2023 Unr••trlct•d R•strlctod Total 2022 In¢(#n• from: Donatlong and l•gaci•• Donatlons - Gan8ral publ Legad8S 190 200 000 500 100.000 2W.19) 200,190 1CA),500 Olhor tradlng actMtI•8 Sale of goods Int•r••t r•c•lv•b 361 Total ineom• 200,551 21Y).551 100,552 Exp•ndltur• on: Charltablo aatl¥ttl•g Wages Donallons pald to PCC of the Parish of Boston alrs and malntenarKe lo the Parish Church of St Botdph Bank charge8 Independent examln8rs f88 Investment Thnagement fees 38.234 36,053 150,000 28,228 103 26228 103 4,065 106 1,060 14.564 13.388 13288 Tolal •xpMolkn• 78,909 78,9 205,848 N•t Incomo 1 (d•ftlt) 121,642 121,642 (105.296) Galn I IloBB) on r•vakth of Invo•tmont 103.979 103,979 (82.892) N•t mov•m•nl In fund• 225.621 225,621 Total furKls al 31st D0mber 2022 Total fvrKls at 31 st Dember 2023 1.018,199 1.243.820 1.018,199 1.186,387 1,243,820 1.018,199 The nots8 on p8g8F 610 8 forni part of these financial slatsments. Page 4
THE BOSTON STUMP RESTORATION TRUST Statement of Flnanclal Posltlon for th• y•ar •nd•d 31st D•c•mbor 2023 2023 UnrnAtrld•d RMtrlcl•d Total 2022 FIXED A8SEf8 Invaslments 802.744 802,744 802,744 712,151 712,151 CURRENT sET8 Dabtorn C88h al bank aTxJ in Ind 35.018 407.044 442,060 35.018 407,044 442.080 42.4V2 285.118 307.808 TOTAL CURRENT ASSETS 1244,804 1.24804 1.019.759 CURRENT UABIUTIES Cr8dlto ualg: Indepernlent exam1n9 fa8 NEf ASSEf31LIABIUTIES 1243,820 1.243,820 1,018,199 ReBtriGted fvrKIB Unre8tricled fund8 1,241820 1,243.820 1243 820 1.018,199 1.243.820 1,018,199 TOTAL CHARITY FUNDS The8e Ilnandal 81ateMts on page8 4 to 8 Fhpfe approved wthorfsed for Issu8 by the fnth5 on .. ......7&Z4 and 9ign8d on their behair ty. Tru8tse Tha notes on pages 9 to 10 do not forni part of tsse finarKial statemenls. Pag8 5
THE BOSTON STUMP RESTORATION TRUST Not08 to th• Accounts lar th• y•ar •nd•d 31•t DoG•rnb•r 2023 The is an wilncorptK8ted ¢h8rfty r8gi9tered In Engl8rMI arnl Wal86 the Charity comm1w1 wlh tho rry18tratlon number 507699. The chathV8 regi6terwJ address Is The RectNy Offic88, 1 Womwats. Bostcn, PE218NP. Tho prfThlp81 anI1Thj pollcle8 lOpted in thg prqjwallon of th8 flnandal 8tthm•ts are 801 b81ow. (a) Statement coMPlIM ba818 d wepar Tho fffiWKal st8tem8rt8 Iwve pr4pal In aux)rdaY 2019)). • FRS 102 - Tho FlnarKI81 Rop(xUrvJ S&vKlard appllcalAa kn tha UK and Rewbllc of Irelond • Th8 Ch&r11188 Ad 2011. Th8 charlty mts tho defirluon rf a publlc talt ty under FRS 102. (b) Incom8 rec(wJnldon All rwnlled In the Slatomart of FlnarKlal A88 when the ¢(¥KIIU(Th for rec4lpt have boon met. tha amwnt w be m8a8urad rell8bly and it IB probabl8 Ihat th8 Irrx>mo wll be recMI. {c) Gift8 kn KlrKI G1ft8 In Klnd are iwht Irrto the unts WI18 there Is elther a feagonabl8 rflhelrfalr value to the fund8 orthe amounl whith18 actually re8181. Whffv a valuo Cann b8 determ1d, (Y a rn08cM1a eBllmaie applled. tho glft18 In the 8ts1ement ( FIr1 PAivthB. (d) Exp•110 rwnlkin Exp&Klturo18 includ8d kn the cl Flnonclal AclMU88 M an 013 ba818 and18 a1¢Xa to a partlculw fund where tho sts relata dkectly to that ld. ExpwKlllur818 cat8gryl8ed U1 Iho hoadlry8 recorded In the Stement of FInala1 Adlth. arr#)unt18 th8 IIMrKaal Statemts for vdurrteer lkno In wlh ts SORP (FR8102). (•) Wages ond pemlon ccA8t8 Tha ¢hartlles wage8 CO8ts relats8 to emF4gya85 lomially emplo>•d lry tho PCC of th8 Parlth of Booton (an a0tl rtherfty). lvant Ilme Is recharyed to The Bo•ton SIAmp R8Ftorakn Tnt. Tho PCC olthe Parlth ol B(thn ¢lHIty operates a d8fined corrfbullon pen8ion em8 tr employe The ass9 dlh8 hekl 88Parats from thoee ofthe ah8rfty. Tho nual contrfbutk>ns payablg kn relallon to employeg (xt8 redwrLwd are Incl11 In Slatwnurt of FinE4ndal Acttvlty. Taxatlon The chorfty 18 oxemrt r4Mrltyiihii tho rnosnlry of 8cheiknle 3 of the Charltl88 Act 2011. (gl Gd concem Tha flnaThJal statemwts have been prerAred a golry c(mcwn ba818 a8 Iho1N8te88 b811ove that no lerial Unrta*e8 exlot. The tN8t8e8 hava conthred the18vel of ld8 held 8rn1 the exp8cl8Ve1 of In(me and 8xpondlur8 forthe noxl 12 m(mth8 fr(xn aUlhory tho flnanclal atatemrt whl¢h18 sulldent wlh trA level rf rB8rn8 rfthe charftyto ba able to conlIn a8 a golr#J ccmcwn. P8@
THE BOSTON STUMP RESTORATION TRUST Notes ta the Accounts for th• y•ar •nd•d 31st Dac•mb•r 2023 Ih) Jnts and key 8ourc88 of e8limalk)n ¢tsInty Thwe arp 8lwllkant ludgThnts or esttmakn whlch frmve been made in the tho abov8 accixmtlrwJ 1108. othw than UBual cut off JuthJeThnts Inclthl&l In prep8yrnnl8 aKI accnja Quote(I Inveslmenta arn 8h¢x8 at ttthfalr value at ts bal¢0 ah8 dato (988 note 51 Ary nVern In th81r f81r v8lu818 rncogni8ffl1 In th8 SOF O) DdlnKlon rf Fund8 Um8trlcted are avail)18 for u88 at th8 dl8crnli(m the Tr1086 In the fwtheMGe of lh8 genernl otIgGts ofth8 charlty and whh have not b? deg1wa for otrr wrpo88& Ro8trkied fvrK18 we furxls vthlth ara to be In aCCordce Ih 8pth re811i(thn8 imp088d by th)rnr8 or wlmch have en ra181 by tho charlty for p8rt1(xlar purwees. The costs rf admlnl8t8rfNJ sh fund8 are 4alnst the SpC furnj. The InterKl8d u88 of 88ch rn8trIC furxl18 aei (xrt kn the rnte8. The yJrW swf¢o3ts Incurred duhw the ar to: 2022 Salari08 {inc. Ih InswarK8) Sodal se co81 PSn CLwi8 &3.731 3,498 1,004 31.814 The numb8r d p8mn8 by th8 ch8rfty durlr¥ the fir aUrrted io 1 (2022: 11 The charty IB contrdl&l bj ts tN8teeB 88 a body and Tr) IN11dual does or c(wFd exert control. Thwe wwo Th) tran8KUon8 with any relabj parUe8 that requir6 diu108urn In th8 f8la1 818tn0 Tho charlty Is al80 aOda th PCC of the Parf8h Bo8ton (Chwty No. 1138045) tho Rw Salty CHfton and CFvf8 Ladner ttIr on The Tnjotees BO8 ol both charlll8& Tho tharili88 dosely tWr In relatkn lo any renovatlcm rnqukul at Th8 Parhh Churth of St Botoljh. Bo8tM. Dwlng £nl (2022- £150,OOW fvrKla. aot a81de by Boston Stuny Re8toralJon Trust to help knnd the redevelopm& of the Bl8nkln Memcylal by the PCC of Parf8h ( B03ton) wwe donated to the PCC. In ad(111(m. a8 UKIW lernis ( the Trn8t D1 c¢ The Stump Restcffation Tru8L In 2023 the (tsrty 8pont a ftwlher £21228 M WDviding rryairn to ts faiYlG oftho dro•. ) remnor8llon dir• or Indlrndy. of the fLmd6 of the charlty. wa8 pakl (Y pa19 for the w to any In8 (Y Io pw8cffi or p8r8(ms knthvn to be txnnthj to thBm. expen8e8 ha8 baen mada ty18 duo to be madg to any (lhe tru•te88 in Pa7
THE BOSTON STUMP RESTORATION TRUST Not•8 to tho Accounts for th• y•ar •nd•d 31•t D•c•rnb•r 2023 Un118 ur20064886 Hdd Unli 2023 2022 St J•rnM W•alth Acc¢wnt Glob81 Clo88 M UT Sust & Re8p Equlty Cla88 M UT Balernl Mgd Cla58 M UT Irrtl Ewlty Cla88 M UT Corp B(VKI Cla68 M UT N(Yth Am8rfc8n M UT Glcl>al Va8 M Worl(hvkl8 Incrn M Lrr 54J09.188 47,881.714 3TI.XI 205,663 383.40 173.275 172.507 160.342 131,491 125,223 122,588 36,994.696 41,320.586 86.984.415 39&40 145,537 34&20 1U878 154.50 134.391 2.744 712.151 The above InSImentS are h8ld by th8 Bost( Slump R6thraliDn Tru8t and IB an Unre#JIG fvnd. AllJan 2023 Inc1 Outgoh At 31 Doc Unr•Btrfci•d fund8 furn De81gnaj fun 993,199 200,551 25,070 (6.25J) 1.212.570 6,250 6,250 25,0 1.243,820 T¢)tal .018.199 200,551 5,070 1018 199 200 551 All In the 223 yBAr were In rd8llon to restrIcted fvmd8. The fvnds arn constlluial a8 foll¢x8.' 2023 Unr••trlol•d RO•tr fo Funth Fund• 2022 Total Fthed as8*3 InveBlrnonts 802.744 35.016 407,044 (w) 2,744 35,016 407.1)44 (984) 1243 820 712.151 Cash at bk and kn hand Olh8r 8888181 (IlabHIIkn) 265.116 1018 199
THE BOSTON 8TUMP RESTORATION TRUST Notss to th• Accounts for tho y•ar ended 31•t DK•mb•r 2023 Th• fdl(NAng pag• dou form rfth• flnwd41 •t•t•m•nts
THE BOSTON STUMP RESTORATION TRUST Notss to th• Accounts for the year endad 31•t DK•mb•r 2023 2022 Don8llons 100.500 Sthb dgood8 3&058 4065 106 8enk cl• 106 14.584 ISQOOO Xl,5.848 14.584 159,L 205.848 29 (62.aW2) (02,2) 18 8 Fu At1J•n In¢Ing Outyolng At31D 2022 Unro•trlct•d fund• General fund Deblgnatad fiJnd8: 1.011.387 100.552 {11&740) 993,199 150.CX)O 25,IMJO (150,CKIO) 26.CrfXI 1.1W387 100.552 2W740 1&199 R••trfct•d fund8 Pwjg 10