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2020-12-31-accounts

Page
Trustees'
Annual
Report		 1to5
Statement ofTrustees' Responsibilities
Independent
Examiner's		 Report
Statement of Financial Activities 8&9
Statement of Financial Position 10
Notes to the Financial Statements 11to 25

No. 1 F592,224
No. 2 830,280
No.
No.		 3
4		 8207,086
f197,375
COIF Investment Fund
COIF Fixed Interest Fund
COIF Investment Fund (formerly Exminster Capital)
Charles Stanley &Co Ltd Discretionary Portfolio (formerly Exminster Income)

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Notes 2020 2019
6 6
Fixed assets
Investments 14 1,798,149 1,617,480
Current assets
Debtors due within one year 15 5,244 5,767
Stock 12,631 13,904
Cash at bank and in hand 16 ~1007 4 111701
118,609 131,372
Creditors:
amounts		 falling due
within one year 17 ~30985 28550
Net current assets 87624 102822
Total assets less
current liabilities
Expendable
Endowment		 funds 19 73,229 64,019
Unrestricted
funds		 20 48,329 42,541
Designated
funds		 21 155,173 123,576
Restricted
funds		 22 320,232 297,127
Permanent
Endowment		 funds 23 1 288810 1 193039
18

Total Total
Unrestricted Endowment Restricted Funds Funds
Funds Funds Funds 2020 2019
K E
Permanent Endowment income
1993Scheme (note 25) 28,967 28,967 28,850
Permanent Endowment income 6,416 3,896 10,312 10,110
Restoration interest 462 462 1,035
Other interest 176 176 267
Tax refund
3. Donations
and legacies
Total Total
Unrestricted Endowment Restricted Funds Funds
Funds Funds Funds 2020 2019
E E E E E
Restoration fundraising
Other 21,302 21,302 68,530
Legacies 24 814 28 000 52814
4.
Festival		 income
Total Total
Unrestricted Endowment Restricted Funds Funds
Funds
E		 Funds
E		 Funds
f		 2020
E		 2019
K
Annual
flower festival		 1,483 1,483 16,042
Christmas
tree		 festival 80 80 10375
5. Other income
Total Total
Unrestricted Endowment Restricted Funds Funds
Funds Funds Funds 2020 2019
6 8 8 8
Rent received 1,208 1,208 1,800
Wayleave
received		 27 27 21
Administration charge for
3 administered charities 225 225 225
Sundry receipts 300 300 550
6. Cost ofother trading activities
Total Total
Unrestricted Endowment Restricted Funds Funds
Funds Funds Funds 2020 2019
6 E 8
Cost ofshop sales 1,978 1,978 1 783
Fundraising costs
Festival expenses:
Annual
flower		 festival 155 155 5,755
Christmas tree festival 60 60 2 888

7. Grants payable
Total Total
Unrestricted Endowment Restricted Funds Funds
Funds Funds Funds 2020 2019
6 6 6
QECC (Exhibition Foundation) 1,788 1,788 1,831
Tuckfield
United Schools		 392 392 384
PCC Crediton
PCC Exminster 421 421 435
PCC Yeoford 67
Tuckfield Episcopal School 109 109 109
Relief in need —Crediton
Relief in need —Exminster 41 41 44
Relief in need —Sandford 41 41 44
Vicar ofCrediton 400 400 400
Assistant
Clergy		 200 200 200
Rector of Exminster 250 250 250
Rector of Sandford 200 200 200
Posbury 93
Bodley and Elston 2,694 2,694 2,638
Vicar of Exminster Trust
RoofAppeal
8.
Support costs
Total Total
Unrestricted Endowment Restricted Funds Funds
Funds Funds Funds 2020 2019
6 6 E 6
Rent 100 100 100
Insurance 15,344 15,344 15,179
Churchyard
and car park
St Lawrence		 1,062 4,560 4,560
1,062		 5,320
217
Church
repairs		 813 813 2,807
Organ refurbishment/repairs 594 594 312
Church fabric 447 50 497 5 877
22m

9.
Governance costs
Total Total
Unrestricted Endowment Restricted Funds Funds
Funds Funds Funds 2020 2019
E K E 6
Clerk to Governors 1,242 1,242 1,242
Accountancy 3,000 3,000 2,904
Payroll costs 172 172 167
Sundry expenses 6 48 54 259
Bank charges 67 67 82
Advertising
No employee (201 No employee (201 9:zero) received emoluments
overf		 60,000 in the year.
10. Accountancy fees
2020 2019
E
Independent examination 1,500 1,452
Accountancy 1,500 1,452
Other

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14. Fixed asset investmenbr
2020 2019
6 6
Analysis ofchange
in investments		 during year
Valuation at 1 January 1,617,480 1,351,392
Additions 97,314 74,500
Disposal proceeds (2,478)
Net gains/(losses) 83355 194066
Valuation at 31 December
15.Debtors due within one year
2020 2019
6
Gift aid and tax reclaimable 87 1,758
Interest receivable 3 103
Prepayments 156
Other debtors 5 154 3750
16.Cash at bank and in hand
2020
E		 2019
f
NatWest
Bank —Current Account		 5,833 5,833
NatWest Bank —Business Reserve Account
CBFChurch of England
- Deposit Fund Account		 49,635
25,000		 44,893
25,000
NatWest Bank —re Restoration Committee 20 266 35975
17.Creditors
2020
6		 2019
f
Money held by the Governors and owed to charities
administered
by them (note 24)		 17,181 14,008
Monies due in line with the 1993scheme (note 26) 9,577 11,511
Other creditors 1,233 127
Accruals 2 994 2 904
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24. Charities administered
by the Governors
(not in the 1993Sc		 24. Charities administered
by the Governors
(not in the 1993Sc		 24. Charities administered
by the Governors
(not in the 1993Sc		 heme)
Benjamin Wood Cleave (Charity Reg. No. 254009) 2020 2019
8
Investment
income
Grants
paid
Administration
charge
Net incoming
resources
Gain/(loss)
on investments		 1,521
~75
1,446
3071		 1,491
~75
1,416
7532
Net movement
in funds
Balance at 1 January
Balance at 31December		 4,517
56096		 8,948
47 148
Money held by governors (see below)
COIF investment
Assets held at 31December		 7,890
52723		 6,444
49652
Benjamin Cleave re. Haywards
(Charity Reg. No. 308781)		 2020 2019
8
Investment
income		 996 858
Grants
paid
Administration
charge
Net incoming
resources		 (55)
~75
866		 (37)
~75
746
Gain/(loss)on
investments		 2012 4267
Net movement
in funds
Balance at 1 January
Balance at 31December		 2,878
36049		 5,013
31036
Money held by governors (see
COIF investment
Assets held at 31December		 below) 4,393
34534		 3,527
32 522
Dorm 8 Thomas Foundation (Charity Reg. No. 308855) 2020 2019
8 8
Investment
income
Grants paid
Administration
charge
Net incoming resources		 1,339
(403)
~75
861		 1,312
(500)
~75
737
Gain/(loss)
on investments		 2 704 6632
Net movement
in funds
Balance at 1 January
Balance at 31December		 3,565
47 754		 7,369
40 385
Money
held by governors (see
COIF investment
Assets held at 31 December		 below) 4,898
46421		 4,037
43717
2020
6		 2019
f
Total monies held by the governors and owed to charities
administered
by them (note		 17)

25.Share ofperm anent
endowment
inc		 ome under 1993schem e
2020 2019
8
Endowment
Income		 28,967 28,850
Less:
Fee farm rent (100) (100)
Insurance (15,344) (15,179)
Crediton
repair fund		 (3,200) (3,200)
Exminster
repair fund
Clerk's honorarium
Clerk's expenses
Accountancy
and examination		 (800)
(1,242)
(172)
~3000		 (800)
(1,242)
(194)
~2904
23858 23619
Balance to be distributed
7/20n to Crediton Educational
Foundation
(QECC)		 1,788 1,831
13/20e Divided
5%Relief in need: Crediton 83 88
Exmin ster 41 44
Sandford 41 44
165 176
Vicar ofCrediton 400 400
Assistant
Clergy		 200 200
Rector of Exminster 250 250
Rector ofSandford 200 200
1,050 1,050
80%Balance for Crediton 1,685 1,739
20% Balance for Exminster 421 435
2 106 2 174

2020 2019
Crediton Educational Foundation (QECC) 2017 (129) (129)
2018 (46) (46)
2019 1,831
2020 1 788
1,613 1,656
Relief in need
Exminster 2012 71 71
2013 84 84
2014 60 60
2015 57 57
2016 47 47
2017 59 59
2018 48 48
2019 44 44
2020 41
511 470
- Sandford 2013 84 84
2014 60 60
2015 57 57
2016 47 47
2017 59 59
2018 48 48
2019 44 44
2020 41
440 399
20% Balance for Exminster 2012 472 472
2013 1,061 1,061
2014 712 712
2015 661 661
2016 503 503
2017 634 634
2018 407 407
2019 336 336
2020 ~3023
1,763 4,786
Diocese re Clergy Stipends 2016 1,050 1,050
2017 1,050 1,050
2018 1,050 1,050
2019 1,050 1,050
2020 1 050
5250 4200