REGISTERED CHARITY NUMBER: 1043090 THE FRIENDS OF ST EBBE'S TRUST REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Mercer Lewin Ltd Chartered Accountants &7 Citibase New Barclay House 234 Botlay Road Oxford OX2 OHP
THE FRIENDS OF ST EBBE'S TRUST CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Pago Report of the Trustees Independant Examiner's Roport Statement of Flnancial Activities Balanco Sheet Notes to tho Flnancial Statements 7 to 12 Detsiled Statement of Financial Activltles 13
THE FRIENDS OF ST EBBE'S TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 The trustees present their report with the financial statements of the charity for the year ended 31 December 2023. The trustee5 have adopted the provisions of Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). OBJECTIVES AND ACTIVITIES Objoctives and aims The Tnjst has been set up as a registerèd charity for the advancement of the Christian gospel in the City of Oxford, in particular by supporting evangelism and pastoral work amongst the students and other young people in the universities, colleges and elsewhere. Its primary aim at the outset was to fund a student curate or worker at St Ebbe's. The charity appeals for donations and gifts to help support the employment cost5 of staff directly involved in the student ministry at St Ebbè's. The Tnjstees have complied with the duty within Section 17(5) of the Charities Act 2011 to have due regard to the public benefit guidance published y the Charity Commission. ACHIEVEMENT AND PERFORMANCE Charitabl8 actlvities The charity continued its role in financially supporting the student wod( at St Ebbe's Church. FINANCIAL REVIEW Flnancial position Donations and gifts received totalled £210,56612022- £142,589). The market value of investments at the balance sheet date was £140,16812022'. £133,755). The net assets of the trust were £103,728 (2022.. £68,690) after taking account of thè 2022123 annual grant committed up ttj 30 September 2023. The core grant committed for the year ended 30 September 2024 is £149,964. The liability for grants to St Ebbe's at 31 December 2023 (including this core grant) is £149,964. In addition to this core grant, other grants were made to St Ebbe's in 2023. STRUCTURE, GOVERNANCE AND MANAGEMENT Governtng document The charity is controlled by its goveming document. a deed of trust and constitutes an unincorporated charity.
THE FRIENDS OF ST EB8E'S TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 STRUCTURE. GOVERNANCE AND MANAGEMENT Charity constitution The Trust was constituted by a deed dated 13 December 1994 and is administered and managed by the trustees under the name ofthe Friends of St Ebbe's Trust or any other name the trustees may decide with the approval of the Charity Commissioners for England and Wales. The board of Trustees con515ts of at least six people being- 1. The ex-officTO trustee. who shall be the Rector or Priest in Charge of St Ebbe's Church, Oxford or, during an interregnum, a person nominated by the last Rector or Priest in Charge, or a person nominated by the Churchwardens of St Ebbes., 2. Two nominated trustees, one appointed by the Par¢xhial Church Council of St Ebbe's and the other appointed by the Oxford Churches Trust Each appointment shall be for a term of four years at a meeting convened and held according to the ordinary practi ofthe appointing boo¥. The person appointed may be, but need not be, a member of the appointing body. 3. Four copted trustees who are to be persons who through residence, occupation. employment or otherwise have special knowledge of the area of benefft orwho are otherwise able by virtue of their personal or professional qualifications to make a contribution to the pursuit of the objects or the management of the charity. They are to be appointed for a term of five years by a resolution of the trustees passed at a special meeting of which not less than 21 days, notice has been given. REFERENCE AND ADMINISTRATIVE DETAILS Raglstered Charity number 1043090 Principal addres5 clo St Ebbe's Rectory 2 Roger Bacon Lane OXFORD OX1 1QE Trustees S Neal {Treasurer) N Fortescue (Chair) A Maidment (appointed 2311012023) O Bartlett (appointed 2311012023) J Chan (appointed 1011012023) M Wak (appointed 911012023) V Roberts A Carter A Felce G Green (appointed 231512023) Independent Examiner A Churchill Stone FCA DChA Mercer Lewin Ltd Chartered Accountants 6-7 Citibase New Barclay House 234 Botley Road Oxford OX2 OHP
THE FRIENDS OF ST EBBE'S TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023 Approved by order of the l)oard of trustees on 31 October 2024 and signed on its behalf by: Trustee
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE FRIENDS OF ST EBBE'S TRUST Independent examiner's report to the trustees of The Friends of St Ebbe's Trust I report to the charity trustees on my examination of the accounts of The Friends of St Ebbe's Trust (the Trust) for the year ended 31 December 2023. Responsibilities and basis of report As the charity trustees of the Trust you are responsible for the préparation of the accounts in accordance with the requirements of the Charitie5 Act 2011 ('the Acf). I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Direction5 given by the Charity Commission under Section 145{5)(b) of the Act. Independent examiner's ststement I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect= accounting recards were not kept in respect of the Trust as required by Section 130 of the Act- or the accounts do not accord with those records., or the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 Dther than any requirement that the accounts give a true and fair viewwhich 15 not a matter considered as part of an independent examination. I have no concems 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 aGGounts to be reached. A Churchill Stone FCA DChA Mercer Lewin Ltd Chartered Accountants 6-7 Citibase New Barclay House 234 Bolley Road Oxford OX2 OHP 31 October 2024
THE FRIENDS OF ST EBBE'S TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023 2023 Total funds 2022 Total funds Unrestricted Endowment fund fund Notes INCOME AND ENDOWMENTS FROM Donations and legacie5 210,566 210,566 142.589 Investment income 2,865 2,866 936 Total 213,431 213,432 143,525 EXPENDITURE ON Raising funds 960 960 3.190 Charitable actlvlties Support for St Ebbe's Churth 183,846 183,846 160,922 Total 184,806 184,806 164,112 Net gainsl(losses) on investments 6,176 236 6,412 (20,781) NET INCOMEI{EXPENDITURE) 34,801 237 35,038 (41,368) RECONCILIATION OF FUNDS Total funds brought forward 52,010 16,680 68,690 110,058 TOTAL FUNDS CARRIED FORWARD 86,811 16.917 103,728 68,690 The notes form part of these financial statements
THE FRIENDS OF ST EBBE'S TRUST BALANCE SHEET 31 DECEMBER 2023 2023 Total funds 2022 Totsl funds Unrestricted Endowment fijnd fvnd Notes FIXED ASSETS Investments 123,251 16,917 140,168 133,756 CURRENT ASSETS Debtors Cash at bank 25,190 90,733 25,190 90,733 675 40,827 115.923 115,923 41,502 CREDITORS Amounts falling due within one year (152,3631 {152,363) (106,568) NET CURRENT ASSETS (36,440) (38,440) (65,066) TOTAL ASSETS LESS CURRENT UABILITIES 86,811 16,917 103,728 68,690 NET ASSETS 86,811 16,917 103,728 68,690 FUNDS Unrestricted funds Endowment funds 8S,811 16,917 52,010 16,680 TOTAL FUNDS 103,728 68,690 The financial statements were approved by the Board of Trustees and authorised far issue on 31 October 2024 and were signed on its behalf by.. Trustee The notes fomi part of these financial statements
THE FRIENDS OF ST EBBE'S TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 ACCOUNTING POLICIES BASIS OF PREPARING THE FINANCIAL STATEMENTS The financial statements of the charity, whith is a public benefit entity under FRS 102, have been prepared in accordance with the Charrties SORP (FRS 102) 'kn¢ounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019),, Financial Reporting Standard 102 'The Financial Reporttng Stsndard appliGable in the UK and Republic of Ireland, and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exptIon of investments which arè included at market value, as modified by the revaluation of rtain assets. INCOME All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. EXPENDITURE Liabilities are recognised as expènditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefrts will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directiy attributed to paCular hèadings they have been allocated to activities on a basis consistent the use of resources. Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure. TAXATION The charity is exempt from tax on its charitable activities. FUND ACCOUNTING Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is induded in the notes to the financial statements. INVESTMENT INCOME 2023 2022 Other fixed asset invest - Fll 2,866 936 continued...
THE FRIENDS OF ST EBBE'S TRUST NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023 RAISING FUNDS RAISING DONATIONS AND LEGACIES 2023 2022 Support costs 960 3.190 TRUSTEES. REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022. TRUSTEES. EXPENSES There were na tNstees' expenses paid for the year ended 31 December 2023 nor for the year ended 31 Dernber 2022. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted Endowment fund fund Totsl funds INCOME AND ENDOWMENTS FROM Donations and legacies 142,589 142,589 Inveslment incomè 936 936 Total 143,525 143.525 EXPENDITURE ON Raising funds 3,190 3,190 Charitable activitlès Support for St Ebbe's Church 160,922 160,922 Total 164,112 164.112 Net gainsll105ses) an investments {16,4641 (4.317) (20.781) NET INCOMEIIEXPENDITURE) Transfers between funds (37,0511 686 (4.317) (686) (41.368) Net movement in funds (36,3651 {5.003) (41,368) RECONCILIATION OF FUNDS Total fvnds brought forward 88,375 21,683 110,058 TOTAL FUNDS CARRIED FORWARD 52,010 16,680 68,690 ontinued...
THE FRIENDS OF ST EBBE'S TRUST NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023 FIXED ASSET INVESTMENTS Unlisted investments MARKET VALUE At 1 January 2023 Revaluations 133.756 6.412 At 31 December 2023 140,168 NET BOOK VALUE At 31 December 2023 140,168 At 31 December 2022 133.756 There were no investment assets outside the UK. Cost or valuation at 31 December 2023 is represented by: Unlisted investments Valuation in 2017 Valuation in 2018 Valuation in 2019 Valuation in 2020 Valuation in 2021 Valuation in 2022 Valuation in 2023 Cost 66 (6,440) 5,021 5,397 (11,245) (20,781) 6,412 161,738 140.168 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 2022 Prepayments and accrued income 25,190 675 continued...
THE FRIENDS OF ST EBBE'S TRUST NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 2022 Other creditors 152.363 106.568 MOVEMENT IN FUNDS Net movement in funds At 31112123 At111123 Unrestricted funds General fund 52.010 34,801 86,811 Endowment funds Expendable Endowment 16,680 237 16,917 TOTAL FUNDS 68,690 35,038 103.728 Net movement in funds, included in the above are as follows: Incoming resources Resources expended Gains and losses Movement in fijnds Unrestricted funds General fund 213,431 <184,806) 6,176 34,801 Endowment funds Expendable Endowment 236 237 TOTAL FUNDS 213,432 (184,806) 6,412 35,038 Comparatives for movement in funds Net movement in funds Transfers between fund5 At 31112122 At 111122 Unrestricted funds General fund 88,375 (37,051) 686 52.010 Endowment funds Expendable Endowment 21.683 (4,317) 1686) 16,680 TOTAL FUNDS 110,058 141,368) 68,690 10 continued...
THE FRIENDS OF ST EBBE'S TRUST NOTES TO THE FINANCIAL STATEMENTS - continuad FOR THE YEAR ENDED 31 DECEMBER 2023 MOVEMENT IN FUNDS - continued Comparative net movement in funds, included in the above are as follows.. Incoming resources Resources expended Gains and 105ses Movement in funds Unrestricted funds General fund 143,525 (164,112) (16,464) (37.051) Endowment funds Expendable Endowment 14,31n (4,317) TOTAL FUNDS 143,525 (164,112) 120.781) (41,368) A current year 12 months and prior year 12 months combined position is as follows.. Net movement in funds Transfers betMeen funds At 31112123 At 111122 Unrestricted funds General fvnd 88,375 (2,250) 686 86,811 Endowment funds Expendable Endowment 21.683 (4,080) 1686) 16.917 TOTAL FUNDS 110,058 (6,330) 103,728 A current year 12 months and prior year 12 months combined net movement in funds, induded in the above are as follows.. Incoming resources Resources expended Gains and losses Movement in funds Unrestricted funds General fund 356,956 {348.918) (10,288) (2,250> Endowrnent funds Expendable Endowment 14,081) {4,080) TOTAL FUNDS 356,957 (348,918) (14,369) 16.330) continued...
THE FRIENDS OF ST EBBE'S TRUST NOTES TO THE FINANCIAL STATEMENTS - contlnu8d FOR THE YEAR ENDED 31 DECEMBER 2023 10. RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 31 December 2023. 12
THE FRIENDS OF ST EBBE'S TRUST DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023 2023 2022 INCOME AND ENDOWMENTS Donations and legacles Donations Gift aid 188,872 21,694 134,633 7,958 210,566 142,589 Investment Income Other fixed asset invest- Fll 2,866 936 Total incoming resources 213,432 143,525 EXPENDITURE Charitabl8 activitios Sundries Grants to institutions Grants to individuals 3,301 104,597 74,748 351 87.133 72,238 182,646 159,722 Support costs Governance costs Accountancy and legal fees 2,160 4,390 Total resources expended 184,806 164,112 Net incomellexpenditure) 28,626 (20,587) This page does not fomi part of the statutory financial statements 13