ws Registered Charity No 512994 TRUSTEES, REPORT FOR THE YEAR ENDED 31 ST DECEMBER 2024 Stateme tof ustee The Trustees are responsible for preparing the Trustees• Report and the finanaal statements in accordance with the applicable law. The law ￿quiTe$ trustees of charities in England & Wales to prepare financial statements for eath financial year which glve a true and fair view of the slate of affairs of the Charity and of the incoming ourcts and the application of ￿Oll￿ts of the charity for the perio(L In preparing these financial statements the Trustees are REqUi￿d to: a. Select suitable accounting policies and then apply theD] consistently* b. Observe the methods and prinaples in the Charities SORP (wlw* applicable); Make judgements and accounting estimates that are reasonable and prudent, d. State whether applicable UK Accounung Standards have been followed, subject to any material dePar￿re$ disclosed and explained In the finanaal stateinents. P￿Pare the financial Statements on the going concern basis unless it is inappropriate to presume that the charity will continue In operation. The Trustees th responsible for keeping proper accounting ￿CordS that are sufficient to show and explain the Charity's transactions and disdose with Monable accuracy at any time the financial position of the Charity and enable thejn to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 (as ￿lSed in 2015) and the provisions of the Charity's constitution. They are also responsible for safeguarding the assets of the Charity and hence for the prevention and deteciion of fraud and other irregularities. te Mr Trvor Hunt (Chairman) Mr lan Somervaille CBE ( Hon SeaEtary) Mr Jeremy Peacock (Hon Treasurer) Mrs Elaine Adams (de￿ased2O2s) Mrs Fiona Barnes Mrs Sally Bdl Mr Peter Flint Mrs Sue Joscelyne Rev'd Sam Mann {￿ offiao) Govern cean en The Charity was formed under a Constitution adopted on 16 Matth 1982. A new Conslitution was adopted on If April 2012. In accordance with the Constitution Trust￿ are elected at a General Meding of the Charity, or co-opted by the Board of Trustees to fill a vacancy until the Dext General Meeting. Prinapal Address;. clo St Chad's Church St Chad's Trrrace Sbrewsbury SYI IJX Lloyds Bank plc I Pride IIill sh￿Wsbury SYI IDG Inve5tments'. CCLA Investjnent Management Ltd PO Box 12892 Dunmow CM6 9DL tndependent Examiner; Mrs Clair Modwyn-wiuiams, TCA (Shrewsbury) LLP The Charity has not appointed a firni of So]iators on a penllanent basis but hag access to professional legal advicr if it is required. The objectives of the Charity are to co-operate with the Parochial Church Council of St Chad's Chunh Shrewsbury)- a. in the P￿ervatiOn, adornment and general maintenance of St Chad's Church; . in the repair of its fabric, furnishings and ornaments4 and G In promoting public interest in the chunh, its history and cuhural activitie& Whereas the future of St Chad's Church is best assured by its continued use as a place oaf worshlp) of the Friends of St Chad'sj an independent charityi are more temporal than spiritllal. the purposes In order to provide for the futu￿ pTrservalion. adornment and Maintenan￿ of St Chadjs Church and for the repair of its fabric, the Charity has ajso egtablished a Memorial Fund as a permanent endowment to be held in perpetuity. Any monie5 (including donations, legaaes and grants) paid dirtctly to the Memorial Fund held in deposits and investments separate from the general funds of the Charity and are shown in the Charity's Accounts as Restricted Funds. Income and dividends from these investments may be expended on the PiTservation and enhancrment of the fabric of the church. eve ent an in Income & expendilure - disposable funds During 2024 the Charity raised £460 from subscriptions, £584 Irom the 100 Club, net of expenses but including donated prize5 and £6,814 from dollatio￿, whith induded £5.000 from the Shropshire Horticultural Society and £500 from the Owen Jenkins Trust to its Unrestricted Fund5. The Friends raised funds tlwough 2 events (providing Flower Show ￿freShments and oryanising a song ￿lta1 in St Chad's Churrh which together raised £5,267 after eTpenses. After payment of genera] expenses including the accounts fee, insurance and sponsoring a Christmas tree the UnTrstricted Fund InC￿aSed by £13,942 taking the total value of disposable fun(Ls to £50,956. The Restricted( Memorial) Fund received iBcome of £4,720 in dividends during the year. The Bardays Sterling Bond Fund was Tralised in March 2024 yidding £2&998. No income was received from it in 2024. Thi8 sum rounded to £27,000 was ￿inVested in a CCLA Restricted Deposit Fund in MAY 2024. It was then trdnsferEEd into a CCLA Investment Fund (Memorial Account) in August 2024. The Charity made no donations or grants from the Memorial Fund during the year and so the net income took the total value of the Restricted InconRe Fund, being disposable funds, to £67,543. The total disposable assets of the Charity have the￿f01￿ inoEased by a net £18,662 (£13,942 + £4,720) tsking the lotal disposable value across the General and Memorial Funds to £118,499 (£50,956 +£67,543). Capital- Restricted Funds No donations were paid into the Memorial Fund during the year, the total value of the Restricted Capital Fund, which is non disposable, being £177,797, an Inc￿aSe of £3101. Total Funds The total Funds (at book values) held by the Charity (both Restricted and Unyestricted and both Capital and Income) at 31" December 2024 amounted to £296,296. eserves Polic The Charity is In ongoing discussioThs with St Chad's Chll￿h regarding the likely provision 0£ a £50,000 grant towards the repair of the Inner Vesiibule Roof. This being the only COD]mitment theRE is no forlnal need for rinanaal reserves at PArsent. vestment Poli The Trustees have previously adopted a cautious approach to investmenL with income generating bond funds and cash. Following a review in 2018 , The Trustees have adopted a more balanced approach aimed at counleracting the effect of infiation on investment values as well as generatin8 current and future income for the Memorial Fund. The Trustees have had due ward to the Charity Commission's guidance on public benefit and satisfied that funds raised for the upkeep of the structure and fabric of St Chad's Chur£h Sh￿Wsburyj described by English Heritage as "one of the most important Georgian churcho8 in Englandgl reprrsent a clear public benefit. The ChU￿h is open to all in the comjnunity and is regularly used by a wide variety of people of all faiths and none. Approved by the Board of Trustees an signed on behalf - [ChaIrman￿ecretaryI --[Da￿] THE FRIENDS OF SAINT CHAD'S SHREWSBURY RECEIPTS AND PAYMENTS ACCOUNT FOR THE YEAR ENDED 31STDEC 2024 estricte Ca CE estricted Inco Inco Sub5¢riPtio £400.00 E480.00 £285.00 Oonatfj¢)n¥ & Tax r•¢laim•d £8,814.OQ £6.814.00 £11.735.00 lnvelbntntlne￿• È4,438.00 e4,431.00 £4,107.00 Bank & Bulldlng 8o¢bity Intsrtst £1.594.00 Ét,ts94.00 £1,300.00 Ev•nt6 £1,868.00 £l.B66.00 £4.484.00 EventWror￿IY paid to M•mortal Fund EO.00 £240.00 1QOaub £8D8.00 u06.00 £734.00 Qth•r kn¢om• E284.QO £214AO £1.00 Bartla￿ W•alth Inv••tm•rt¢ rnalts•d £20,998.00 £36,998.00 Èo.00 BA1￿ ¢omp•n#4tlon £0.00 £300.00 TOTAL RECEIPTS £16,030.00 £0.00 £31,720.00 £48,250.00 £23,091.00 PAY Ewjnts £1,589.00 £1.S19.00 £344.00 100CI £222.00 £222.00 È290.00 Offlc• •upplle8 & ¢on•wnibl•• £47.00 £47.0 £68.00 A¢¢ourts F e44&00 £444.00 £862.10 In$wanc• £236.00 £236.00 £2a6.00 Momorlal Book EO.00 t48.00 St ¢had• Chrfskna• trB• 50.0 £00.00 £1SO.00 Donatlon¥ to St Chwl• £0.00 £9A20.00 CCLA Inve$trnents £27,000.00 £27,VOQ.00 £0.00 TO PAY £2,588.00 £0.00 £27,000.00 £29,588.00 £11,305.00 SURPLUS I DEFICITof re¢eipls over payments Page 1 Cash balance blfwd £61.267.00 £51.103.00 Surplus for year £21,763.00 £11.786.1)0 Income accumulato11 to inve$tments l Not• 1lbl Treateil as a Capitsl g41¢7 in 20241 Tr•n$tsrtrom inveBlments 43,101.00 1,822.00 Cash balan¢• ¢lfwd £79,929.00 £61,267.00 Page 2 ThE FRIENDS OF ST CHADS SHREWSBURY NOTES ON THEACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2024 ACCOUNTING POLICIES 8a¥lTF of pr•poratlon of a¢eounts Th• Ilrtttn¢thl stst•mirt¥ hwq b••n pf•pttrnd on • r•colpts& paym•nt• bail¥ IThG￿• l¥ I￿+￿tIt4￿ forwh•n MGqlv•d. ItKom• frr*n fundrnliln• v•ntur•* l• ih•*hgrMI, thfr •¥¥o¢14tsd ¢o•t• Includ•d lTrfvndrnl•in9 ¢09ts. Thll CBF C of E Inv•$trtent Fund dlitrlbudom ar• NtslnDd In th• Incr¢￿*d vlllu• ofth• fund. V#lue Add•d Tax ¥alu•8dded t•x l• not rncov•i*bl• bytho Ch*rllyS a* ¥uch {• lttclud•d Inthi rnbv•ntco#ts In thb rncelpti & pllym•nt* Account wh•rn appll¢4bl•. Exp•ndttur• EA￿ndi￿r•Il￿c0￿ntIdfQrwhITr• p*>Tront l* mad•. C)pJt•l oains & losty•# C•pltsl 9•ln* &1ts11•14rn •ctourt•ilfor•rtdl¥po¥￿ts1 *•i•ts, TP• ￿￿1•y# 8t•rtlny Bond￿$ ¢aih•d In Marth 1024 showln9 ¢*pttal g•lth w•r bbook ¥￿ul of ÉJOg1, Book ¥•lu•i *r• •hown forrnta5n•d InvMkn•Thts bththi m•1k•t￿ly* l th• tsN¢ry*tslli•d 1# ts 4tJ1.12.2Q14 A* follw6'. Inv•skn•n¢¥l bookv4lu• I 21630Y 213301 Mirk•tv*lu• il at 31.12.2024 225391 211220 Ut)¢ry%tallvd•r•wthon booky￿￿• is arJi.12.3024 IrKludln9 •¢¢wn￿rtld I￿OMI. 9029 Ijncry*￿1*•d9ro￿tttONbts0k v•lu• 41 &tJi,12.2024 •x¢ludlng •¢¢thnul*t•d Inc•m• 4192 1183 2 EVENIS Pl0￿r 8ho 3147 2808 2880 YrrRo¢ltsl 3709 -1210 100 Club Inèti 4Z2 072 Charlty Conc•rt 1000 Librnry Viiit 000 Totals THE FRIENDS OF ST CHADS SHREWSBURY NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2024 TRUSTEE REMUNERATION {al QurfngthB yearnDTru¥tt•• rn¢•lv•d •ny mmuMrI￿tyn Ibl D￿n0th•Y••r ￿truSt••￿ r•t•lvtd any b•n*fft¥ In 1¢) D￿nythI y••r Tntyt¢•s rnc•lved rnlmburnom•￿t of •xp•M•i pAld bythtrm OA of Tho Frf•ndi of 81 Ch*d# 8hr•**bury. NDL P*t•rnon r¢lmtyur•¢d £ 222for 0xp0Ad￿uffj byhlm Ihcludln9 paym•ntof cash forthtr 100 Club & Offlcfr 8uppll•• Pw£￿Sed(lo2a B£JlJl. IP Sw1#rv￿11l w*¥ r¥lmbuN4dwllh£ 339 In ¢onM¢tion w￿h FI￿r$hoW Exp•M•s. INVE8TMENTS IRESTRICTEDI Ba¥c5ay8 8t•illhg 8orMI Fund 1 ¢48hèd Mir¢h 20241 53726 28199 C8F Short Duritlon Bond 40963 43610 31969 82549 1321549 CBF In￿l￿•Tht Fund IA¢¢l 1287 8811 50000 CBF Inv•itm¢rrt Fund {In¢l J292 77000 nfjoo Total balanco 50398 166969 216367 213266 CASH FUNDS strlcted Uoyds 2079 Uoyd$ 9319 9319 6731 C8F O•poslt 4te37 41637 30043 C8F O•pMIt 10000 IJ060 20828 Tolal balance 50956 17145 1182 79929 61267 TOTAL FUND3 HE IEN CHA SSH EWSBU ATEMENT OF FOR TH YEA SSE IABILITIES ENDED 31 DECEMBER 2024 INVESTMENTS 2024 2023 Flxed Assets Invèstrnents (Book Valu• Includlng accumulated Income) 216367 213266 Current Assets Cash at Bank & In CCLA Deposlt Funds 79929 61267 Total8 FUNDS 2024 02 Unr•8trlcted Funds 5095 37014 R•strlcted Capltal Funds 177797 174696 Rostrlcted Incomfr Fund8 87543 62823 Total Funds Approved by the Trustees on 21 . i o . 2025 and slgned on thelr behalf by Slgnat Name IL Signature Narne CHARITY COMMISSION FOR ENGLAND AND WALES Independent examiner's report on the accounts Independent Examiner's Report Report to the trusteesl members of The Friends of St Chad's Shrewsbury On accounts for the year ended 31st December 2024 Charity no (if any) 512994 Set out on pages Ilitr., liumbers p, .SLlrtilinn' I report to the trustees on my examination of the accounts of the above charity ("the Trust") for the year ended 3111212024. Responsibilities and As the charity trustees of the Trust, you are responsible for the preparation basis of report of the accounts in accordance with the requirements of the Charities Act 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 the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. 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.. accounting records were not kept in accordance with section 130 of the Act or the accounts do not accord with the accounting records I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached. Please delete the words in the brackets if they do not apply. Independent examiner's statement Signed: Date: 21 2025 Name: Mrs C Moelwyn-williams Relevant professional qualification(s) or body (if any): FCA (ICAEW) Address: TCA Accountants, Third Floor. 21 St Mary's Street Shrewsbury, SY1 1 ED IER October 2018 Section B Disclosure Only complete if the examiner needs to highlight matters of concern (see CC32, Independent examination of charity accounts.. directions and guidance for examiners). Nothing noted Give here brief detsils of any items that the examiner wishes to disclose. IER October 2018