Registered Charlty No. 1053883 THE ECCLESIASTICAL HISTORY SOCIETY ANNUAL REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
THE ECCLESIASTICAL HISTORY SOCIETY CONTENTS Page Annual Report of the Trustees Report of the Independent Examlner Statement of Financlal Activlties Balance SheÈt Notes to the Flnancial Statements 9-16
Page I THE ECCLESIASTICAL HISTORY SOCIETY ANNUAL REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021 The Trtsstees of The Ecclesiastical Hlstory Soclèty 1.the Societv, or "the Charlty") present their report and the Independently exarnined financial statements for the yèar ended 31 March 2021. The flnancSal statements comply with Accountin8 and Rèportin8 by Charities.. Statement of Recommended Practi¢e applicable to charlties preparlng their accounts In accordance wSth the Financial Reportln8 Standard appllcèble In the UK and Republlc of Ireland IFRS 1021 (effective I january 20151. I. REFERENCE AND ADMINISTRATIVE DETAILS The Ecclesiastlcal HSstory Soclety, reglstered charlty number 1053883, Is based and admlni5tered In the Unlted Klnsdom. The contact addres$15 18 Warwlck Street, Oxford, OX4 ISX. The names of the Commlttee Members who served durlng the year and to the date of thls report are.. Prof Alec Ryrie IpresSdent from july 20191 Rosamond McKli¢erlck I Past President) Prof Frances Knlght IVice-Presldentl Dr Gareth Atkins (Hon. Secretary) Iretlred 14 july 20201 Dr Jacqueline Rose lappolnted Secretary 14 July 20201 Mr Simon Jennln8s FCA (Hon Treasurer) Prof Ellzabeth fingle Conference Secretary I Dr Chris Langley I Publl¢lty Secretary I Revd Dr Charlotte Methuen Ico-edltorl Prof Andrew Spicer l¢o-edltorl Revd Dr Kenneth jeffrey12022o23I Dr Jan Vandeburie Ilnternatlonal Relations Secretary l untll August 20201 Dr Géraldlne Vaughan12017-2020,. Intemational Relatlons Secretary from September 20201 Dr Conor 0'8rlen12018.20211 Dr Nlcholas Dlxon12018-20211 Dr Sam Brewitt-Taylor lin loco Pfof nn8le: July 2019-20201 Dr Ruth Atherton12019-20221 Revd Dr Robert Evans12019-221 Canon Professor Mark Chaprnan12021>20231 Prof Alec AYre was Inducted as Presldent ol the Soclety by Prof Rosamond McKitterlck at the start of the Socletfs annual summer conference Sn Durham In 2019. It was agreed that Prof Frances KnS8ht would succeed hlm a5 President for 2020-21. However, In the light of the COVID 19 epldemic. a resolutlon to extend the periods of tenure for each was passed at the Annual General Meetlng held on 14 July 2020. Banker5: COIF Charlty Funds-senator House, 85 Queen Vlttoria Street, London, EC4V 4ET National Westrnlnster Bank PIC- Tavlstock Square Branch, PO 8ox 83, Tavlstock House, Tavlstock Square. London, WCIH 9XA Independent Examlnèr: Mr Peter J Stevenson, FCA-8 Harbord Road, Oxford OX2 8U
Page 2 THE ECCLESIASTICAL HISTORY SOCIETY ANNUAL REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021 2. STRUCTURE, GOVERNANCE AND MANAGEMENT The Soclety is éStabli5hed under a formal written nstitUtIon. as revlsed on 22 July 2009, 2011, 2012, 2016 and again in 2019. The SocSèty is based and adminlstered In the United Klngdom. Management is vested In the Society's Committee whlch Is responsible far the day to day running of the Charity. organisln8 varlous events and maintalning contact with the members to ensure they are kept up to date with events and Issues. The Committee 15 also responsible for the pieparation of the annual accounts. STRucfuRE, GOVERNANCE AND MANAGEMENT Icontlnued) Trustees, Responslbllltles Statoment {contlnued) The Committee also constltutes the bodyof theTrustees of ihe charity and Is responslble for the report madèon thelr behalf. Indurtlon and Tralnln8 Yru5tee5 recelve tralning Informally. Ail Trustee5 are kept Inforrned at meetln8s of thelr dutles and obll8ations under the law in addition lo thelr proper conduct. Related Partles None of the Trustees recelve remuneration or other beneflt from thelr work wlth the Charlty. Any transactlon between the Charlty and the related parties must bè approved by the Trustees. Pay pollcy for stsff and ¢onsultants The trustees comprise the key management personnel of the charlty In charge of dlre¢tln8 and controlling the charlty. The day to day runnln8 and operatlons of the Charity are delegated to approprlate admlnistratlvè helpers and subcommlttees. The Buslness Manager and an admlnlstratlve and accountln8 asslstant are en8a8ed as consultants. All trustees glve up their tlme freely and no trustee reiVed rernuneration in the year. The pay of any consultant reflects the level of responsibillties and sklll Set requlred. The pay Is revlewed annually. Trustees, Responslbllltles Statèment The Trustees are responsible for preparlng the Annual Report of the Trustees and the flnancial statements in o¢cordance wlth appllcable law and Unlted Klngdom Accountln8 Stsndards (United Kingdom Generally Accepted Accountlng Practlcel. Charlty law requlrès the Trustees to prepare flnancial staiements for each financial year. whlch 8lve a true and falr vlew of the state of affalrs of the Charlty and of the Incoming resources and application of resources, includlng the Incorne and expendlture, of the charity for the year. In preparing these financlal statements, the Trustees are requlred to.. select sultable accountlnB policles and then apply them consistenilv,. observe the methods and prlnciples In the Chèritles SORP FRS 102.. make judgments and estimates that are reasonable and prudent., state whethèr applicable UK Accountin8 Standards have been followed, subject to any materfal departures disclosed and explained in the financial statements,. and prepare the financial ststements on the 80in8 concern basls unless it is inapproprlate to presume that the charity will continuè in operatS0n.
Page 3 THE ECCLESIASTICAL HISTORY SOCIETY ANNUAL REPORT OFTHE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021 The Trustees are responslble for keeping adequate accounting records that disclose wlth ieasonable accuracy at anv time the flnancial position of the charity and enable them to ènsure that the financial statements comply with thè principles above. They are also responsible for safeguardin8 the asgets of the charity and hence for taking reasonable Steps for the preventlon and detection of fraud and other Irregularities. The Trustees are re5ponslble for the malntenance and Integrity of the corporate and flnanclal Informatlon included on the charlty's website. Leglslatlon In the United Kin8dom 8overnin8 the preparation and dlssernlnatSon of flnancial staternents may dlffer from le8lslatlon In otherlurisdlctions. Intemal Contro15 The Trustees have overall responslbllSty for ensuring that the ¢harlty has approprlate systems of internal controls. They are also responslble for keepln8 proper aec¢untin8 records whlch dlsclose with reasonable accuracy at any time the flnanclal positlon of the charity and enable them to ensure that the financlal statements follow best practice, Thev are also responslble for the charlty safeguardln8 Its assets and hen¢e for takln8 reasonable Steps for the prevention and detectlon of fraud and other irre8ularitSes. The system of Internal controls 15 de$led to provlde reasonable, but not absolute, assurance agalnst materlal mlsstatement or loss. Rlsk Man¥8ement The Trustees have undertaken a rSsk assessment whlch comprlses.. an annual revlew of the rlsks the charlty may face,. the establlshment of systems and procedures to mltl8ate those rlsks,. and the Implementatlon of procedures desl8ned to mSnlmlse any potential impact on the charlty should those rlsks materlallse. This contlnulng process wlll Identlfy risk areas t¢ whlch the charlty Is vulnerable and highll8ht any necessary safeguards that wlll need t¢ be put in place. The COVID 19 epldemlc was Identlfled as a major rlsk which was likely to require cancèllatlon of the Summer Conference las has proved to be necessary) and the deposlts pald to Nottin8ham Unlver5Ity were at rlsk as a consequence. However. ne8Otiatlons wlth NottSngham have led to a reasonably satlsfactory OUtme. At flrst It was agreed that depo5Its pald shtsuld be offset a8alnst the cost5 for the Conferencè In 2021, which It was a8reed should be held at Nottlngham. However, when it became clear that both the Wintér and Summer Conferences coulL1 only take place online, cancellatlon fees of 20% were agreed and the balance of the monles pald to Nottlngham on attount has been refunded In June 2021. The cost of cancellatlon5, reflècted in these accounts, amounted to £4.941. The present sltuatlon has hl8hllghted the rlsks assoclated with event organisatlon. and appropriate steps wlll be consldered in future to limlt these. No other major rlsks were Identlfled at the date of these accounts. The Trustees recogni5e that membership of the Society needs to grow and new members are belng encoura8ed through opportunity to partltipate in confèrences, through Incefttives offered by pr12es as well as the possibility of papers belng publSshed, and throu8h soclal media. 3. OBJEcfivES AND ACTIVITIES FOR THE PUBLIC BENEFIT The Trustees are aware of the Charlty Commlsslon guidance on Public 8enefit and confirm that they have complled wlth the duty in Section 4 of the Charltie5 Act 2011 to have due regard to it. They consider the information whlch follows in this annual rèport. about the Charitvs aims. activities and achievements in the areas of Interest that the Society supports demonstrates the benefft to its beneficiaries and through them to the Public that arise from those actlvities. The Trustee5 may use the income and the capttal of the charlty in promotlng the objects.
Pa THE ECCLESIAsllcAL HISTORY SOCIETY ANNUAL REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021 ObJettives The maln object of the Soclety, as set out In Its Constitution, Is to advance publlc education In ècclesiastieal history, mainly through conferences and publlcations. ActF¥ltles and A¢hlev•ments In Ilght of the covSd-19 pandemic. and the un¢ertalntV SUTroundln8 the nature and duratSon of restrlctlons relatln8 to th15. the 50¢iety deferred its summer ¢onferen¢e, due to take place in July 2020, for a year. This took place onlSne in July 2021. Re8lStratlons were at a similar level to those In previous years. The Soclety took as Its therne for the intèrvenln8 year'The Church In Sickness and In Health" on whl¢h volume $8 of Studles in Church History wlll be publlshed. An onllne Winter Meetlng was held on thls theme on 16 january 2021, wlth 80 dele8ates reglsterlng to attend. The Society's PostBraduate Colloquium. held collaboratlvely wlth Rouen, was deferred fr¢m the orl8lnal date In Mav 2020 to an online event In May 2021, and attracted students from the UK, Ireland, and France. Durln8 the year the Soclety also awarded and pald prlzes. The Kennedy Prlze for the best cornmunlcatlon glven by postyraduate student at the prevlou5 year's conferences1£5(Kil was pabd to Ellse Watson 1st Andrews) foi 'The Jesuite5ses In the Bookshop.. Catholic Laywomen's Partlclpatlon in the Amsterdam Book Trade, I650-175. The Presldent's Prlze for the best ¢ommunl¢atlon given by an early career academlc at thé prevlous year's conferences I£I,0001 was awarded to Cllve NorrSs (Oxford 8rookesl, for'A blessed and glorious work of God,... attended wlth some Irrègularltv.. managlng Methodlst revlvals, c.1740-1800'. The reciplents of both of these are declded by that year's Presldent and the edltorlal tearn. The Charlty also awarded a Book Prlze, for the best first rnono8raph publlshed In ihe fleld of the hlsttsry of Chrlstlanlty durln8 the 2019 calendarytar. Thls prize, amountlng to £IOOO. was awarded to Sean Griffin, for The Liturgl¢olPost In 8yzontlum ondEorly Ru5 Icambrldge Unlversity Pres51. The recipient of this prize was derrnIned by a speclally convened sub<ommlttee. Durlng the year, members, sub5crlptlons and donatlons lexcluslve tsf subscrlbln8 payments for the yearfs volume ¢f SCHI amounted to £9,74012020- £9,543) were recelved. The Commlttee would like to expre55 Its gratltude to those who contlnue to subscrlbè tg the Soclety and welcome new members. Other receipts have predomlnantly come from ¢onferen¢efees lalthou6h not In the perlod covered by these accounts) and from subscriptions to, and sales of, Studles In Church History. Income has been generated from investments in the M&G Charifund. The value of thls investrnentg was badly hlt durin8 2019 and has recovered slowly. Though still not to thevalue in March 2019. A declslon has been taken to move this investment to Sarasln, and steps are underway to implement thls, havlng regard to the optlmurn tlme for maklng the ch3n8e. The decision was taken In the previous year to engage an adrninlstrator to maintaln atcountlng ledgers. assist wlth administration and maintaln the data base of rnembèrs. Dr Maria Harff took on thls role and has made great improvements to the data base of membèrs, which has been completely re-written, on a platforrn controlled by the Society. in a rnanner that is fully cornpllant with GDPR requirements and the Society's data retèntion policy. It is believed that most flaws have now been eradlcated. AdMnIstratIv costs. being consultancy fees pald amounted to £1,783. The total costs of the data base upgrade amounted to £1,750.
Page 5 THE ECCLESIASTICAL HISTORY SOCIETY ANNUAL REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021 FINANCIAL REVIEW Incomlng Resources Incoming resources totalled £26.626 for the year to 31 Mar¢h 202112020- E48,3671. The fall In incoming resources Is attbUtable to the lack of conférence bookin6s. The Charitvs Incorne was derived princlpally from member5hlp subscrlptions 1£9,7401 . subscrlptions to, and direct sales of Studies Sn Church History1£5,5171, royalties from sales by CUP1£8,3071. Charltable actlvltles Total expendlture amounted to £24,82212020- £45, 4581. Charltable actlvities cornprlsed the running of conferences, the publlcatlon costs of Studles In Church Hlstory and the award of prlzes. The c05t of such activltles amounted to £11,48512020- £28,567),. the reductSon is attrlbutable to the cancellatlon of the Sumrner Conferen. Result of the y•ar Aftei pyblleation ¢0sts and other fund-ralslng expenses of £9,835 12020 £8.7341 and other t05ts. Includln8 8overnance costs, of £3,$0212020- £8,157), the Charity reallsed a net surplus of £1,80412020- £2.9091. After takln8 account of Investment appreclatlon, net of f¢relgn exchan8e losses, of £15,273, the funds of the Charlty Increased by £15,371. Flnanclal posltlon The Trustees conslder that the flnanclal p05Itlon of the Charity as at the year-end Is satlsfartory. wlth reserves of £127,068 and cash balances of £36,423. Reserves Pollcy There are no outstandin8 commStments or cash demands whlch are not adequately covered by our ex15tln8 resources. The single iecuilent ctsmmltment is to Cambrldge Unlverslty Press for publicatlon of Studies In Church Hlstory. Thls commltrnent can be se¢urely Met for the foreseeable future. Consequently. the Commlttee feels It would be Inapproprlate at this stage to adopt a speciflc reserves pollcy, beyond ensurln8 that sufficient funds are retalned to cover the Ilkely cost of 2 years, publlcations lapproxlmately £ll,0001. The Commlttee Is confldent that the Soclety remalns a 8oln8 concern for at least twelve months from the date of thls report. and that It Is approprlate to prepare a¢¢ounts on that basis. Investment Pollry É50,000 was Invested In ihe M&G Charlfund on l Aprll 2014. The market value at l Aprll 2019 rose Iwlth accurnulated dlvldendsl to £67,816 but, partly as a result Of the falls In financial markets as a result of COVID 19, It had fallen In value to £55,53135 at 31 March 2020. It has now recovered and wlth further actumulated dlvldends received durln8 the year of £3.032. the value stood at £72.051. The Committee has declded that these funds should be realised and the value Invested Instead with Sarasln & Partners in their ethically invested charity fund. 4. PLANS FOR THE FUTURE The Trustees do not propose to deviatè from the current oblectlves and activltie5 of the charlty a5 detailed above. Approved by the Trustees on and signe Ir behalf by INamel IDatel
Pase 6 THE ECQESJASTICAL HISTOItY SOCIErY REPORT OFThE INDEPENDENT mINE4 FOR THE YEAR ENDED 31 MARCH 2021 I r•port on the ftnèndal ststements ofyhe Ecclesla5tl¢al HlstorySodetyforth• yearended 31 Marth 2021, as set out on pa8e5 7 to 16. Rup•ctlv• rtsponslbJllt1•50f trustvs and ex•mlner4thd bS01r•t The Trustees of The Eccles$11¢8l Hlstorysociety 4re responslbl¢ for the prepamion of the flnandal stètem¢nts and for malntalnln8 F¢roper a¢countln8 records. They are also responslble for maklng avallable to me the charivs •¢eountln8 r¢¢oré5 and all other records and InformaOn, Includlng mlnut•s of m¢•t5ry5. relevant to my examlnatlon. TheTnJstees condder that •n oudit15 not requlred for th• ye•r under 54¢tlon 144 of the Charities Art 20111-th¢ A¢fl, •nd tha¢ in Independent •xamlnt5on is rt••d•d. Hwln8 Satlsfled mwll that thfj chidty Is not sublert to Judlt and Is ellglble for Indèpendent •umlnatlon. It Is my r•5p0n$lbll to.. Ex•mln• th• •ccounts und•rse¢rion 145 of theAcL' Followthe pr4x•dur•$ lald down In the general dlr•ctlons8fven bythe Charlty Comrnlsslon und•r$eetlon 145ISXbl ol the Acr.. Ind Ststt wh•th•r p4Cular matters havecome to my att•ntlon. D ofln•nd•nt •MIn•i r•pDrt Mv &Yarnlnatlon was urrl•d out In aceord•nce wlth 8eneral dlrethons Ian by the Charlty Commiislon. An •ximlnatign Indudes a revllwof th• accountlTr8 r•¢ords k•F¢t by the thadty and a ¢omparls)n ofthe a¢Munts pre5ent•d wlth tho$e records. It also Include5 conslderatlan of any unusuol Item5 or dlstlosures In the flnandil $tattrnei)ts, and J••ln8 oxplanatlon5 from you •S trust•ts n(rnI any such matters. The pro¢¢dur•s und•rt•k•n do not provide th• ev5den that wouh4 be requlrnd in an audlL and (se9u¢t no oplnlon Is qlven •s to wheth•r th• financ1 stitem•nts pr•Mrta"tnJe •nd f•IrVlè. •nd the r•portl$ Ilmltsa to thos• m•tt•rs sot out In the st4t•m•nt b•low. Ind¢p•nd•rt NponlN•M•mln•rfs tht•m•nt In connèrtlon my •x•mlnaUon, no mjtter h•$ com• tc my •tt•ntkn.. 111 Whlch ifv•s m• r•asonbleuus• lo b•lleve th4¢ In iny materfal respeet the r•oulr•ments to Keep ac£ountln8 r•cords In ae¢ordanto wlth secuon 130 of the 2011 Act. and Prepare accounts whlth accord wlth the a¢¢ountlfi8 records and to complyto the •ccountln8 r•qulr•ments of tha 2011Art h•¥e not beefi m•t.' or 121 fowhlch, kn my op1n1, •ttintlon shoulé be drawn In ord•rto •nable • prop•r und•rstandln8 of the actounts to be r•ath•d. P•tJ ste110n FC4 8 H•rbord Road, Omlwd OX2 8U PtFfr 3.slf Ve4a Ort r.c.8. JortorJ lo
Page 7 THE ECCLESIASTICAL HISTORY SOCIETY srATEMENT OF FINANCIAL AcfiviTIE5 (INCLUDING INCOME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDED 31 MARCH 2021 Page Members. Publlcatlons Unre5trlrted Unrestrlrted Funds Funds Fund5 Funds 31 March 31 March 2021 2020 INCOME FROM: Donations and legades (note 11 Investments (note 21 Charitable actlvlties (note 31 li 9,740 28 9,740 3,032 13,854 9,543 3.937 34,887 li 3,004 13,824 li 30 Total Intome 9,798 16,828 26,626 48,367 EXPENDITURE ON: Cost of ralslng funds Inote Sl Charitable actIvtIeS Inote 61 Other Inote 71 Totsl expendlture 12 12,6351 13,9451 13,2631 17,2001 17,5401 12391 19,8351 111,4851 13,5021 18,7341 128,5671 18,1571 12 12 19,8431 14,979 124.822 145,458 Net Income lexpenditurel 1451 1,849 1,804 2,909 Net gaSnslllossesl on Investments Inott 41 Net movemeb)ts In lunds li 1531 13,S22 13,469 116,0071 1981 15,371 15,273 113.0981 R•¢onclllatlon of fund5'. Total funds brought forward 49,272 62,523 111,795 124,893 Total funds carried forward 49.174 77.894 127,068 111,795 All of the above results are derlved from contlnulng actSvltie5. The Staternent of Financlal Actlvltles Includes all galns and losses retognised in the year. The notes on page$ 9-15 form part of these flnanclal statements.
Page 8 THE ECCLESIASTICAL HISTORY SOuy BALANCE SHEET FOR THE YEAR ENDEO 31 MARCH 2021 Pa8e Members, Publicatlons Unrestrlrted Unrestrlrted Funds Funds Funds 31 March Funds 31 Marth 31 March 31 March 2021 2021 2021 2020 FIXED ASSETS: Quoted investment at market value Inote 111 13 72,051 72,051 55,531 CURRENT ASSETS: Oebtors (note 121 Cash on deposlt (note 131 Cash at bank Inote 131 Total current 3$5•ts 13 12,107 8,307 20,414 26,435 14 28,968 9,919 28,968 7.455 28,933 2,416 14 12,4641 5,843 SO,994 56,837 57,784 TOTAL ASSErs 50,994 77,894 128,888 113,315 LIABILITIES: Creditors., Amounts fallSn8 due wSthln one vear (note 141 Total net assets 14 11,8201 11,8201 11,S201 49,174 77.894 127,068 111,795 The funds of the charlty: Unr•strl¢t•d funds Members, Reserve Publlcatlons Reserve 49,174 49,272 62.523 111,795 77,894 77,894 49,174 127,068 The financlal statements were approvèd and authorised forlssue by the Board and were slgned of Its behall by: IDa The ntstes on pages 9-16 form part of these financial statements
THE ECCLESIASTICAL HISTORY SOCIETY Page: NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 I. ACCOUNTING POLICIES Legal ststus of the trust Thè Eccleslastltal History Soclety 1.the Sodev or.the Charity") Ss a re8lStered charlty Icharlty number 10538831. The contact address Is given in the charlty Information on page l of these ftnancial statements. Basls of Preparatlon Thè charlty consiitutes a publlc benefit entlty as deflned by FRS 102. The flnanclal statements have been prepared In accordance wlth Accountlng and Reportlng by Charitles.. Statement of Recommended Practice applicable to charities preparlng thelr accounts In accordante with the Flnancial ReportSn8 Standard appllcable In ihe UK and Republlc of Ireland IFRS 1021 leffective l January 20161- ICharStles SOAP FRS 1021 and the Flnanclal Reportln8 Standard appllcable In the UK and Republic of Ireland IFRS 1021. The presentatlonal ¢urren¢y of these flnanclal statements Is Pounds Sterllng. The flnanclal statements are prepared urjder the hlstorl¢al cost conventlon. modlfled to Intlude certaln items at falr value wlth the followlnB slgnlflcant accountSng pollcles applled. Goln8 conc•rn The financial statement5 have been prepared on a golng concern basis as theTrustees believe that no materlal uncertalntle5 exlst. The Trustees have considered the level of funds held and the expected level of Income and expendlture for 12 months from authorlsln8 these financlal Statements. The forecast Sncome and reserves are sufflclent to ¢over all of the budgèted expenditure to be able to contlnue a5 a Bolng concern. Income & Expense recognltk>n Voluntary donation5 Iln¢ludln8 rnembershlp 5ubscriptlons- see below) and income from Interest bearin8 deposlt accounts are re¢ognlsed when the ¢harlty has entltlement to the Sncome. any condltions atta¢hed to the Income have been met, It Is probable that the Inctsme will be iecelveiy, and the amount can be Measured reliably. Publlcatlon royaltles are recognised when the relevant account has been produced by the Cambrid8e Universlty Pre55, sales when volumes have been sold and conferente fees and expenses when there is a contractual comrnltmertt. Intome from rnembershlp, comprises an annual subscription and Ilf members so choose) payment for the annual publlcatlon. Annual subs¢rlptSon5 arè consldered donatlons and are reco8nlsed on recelpt. The payment for the publicatlons Is shown as sales, but the ¢ost of the volume sent to 5ubscriblng membersls recognlsed on payment to the publishers. Llfe membershlp subscrlptlons are Included as Income In full In the year of re¢elpt. The payment of a lifetime subseription doe5 not bestow a benefit beyond that enjoyed by members who choose to pay thelr subscription annually and the Charity is not bound to repay any portion of their mèmbership If it ceases io operate. All expendlture Is included on an accruals basls and is reco8nised when there is a legal or constructlve obllgatlon comrnittln8 the Trustees to the expenditurellsave for the cost of publication of the annual SCH volume-which Is recognlsed on receipt of the invoice from CUPI. Expendlture Is cate8orised under the followin8 headings.. The cost of raising funds - conslsts of advertisin& marketin8 and direct mail materials, Includlng publicity costs not assoclated wlth educational material. designed wholly or mainly to further the charit¢s purposes.
THE ECCLESIASTICAL HISTORY soaETY Page l( NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 I. ACCOUNTING POLICIES (contlnued} Expendlture retoznltion (continued) Charltable artivlties comprise grants and donations made durlng the perlod, and prlies awarded (which are recognised when the offer Is conveyed to the reciplentl, and the costs of publication of SCH whSch are recognlsed when Invoiced. Status of funds All funds are unrestricted and the Trustees have complete dis¢retlon for their use in pursuance of the Charlty's oblectSves. Forelgn currencv Assets and Ilabllltles denomlnated In forelgn currencies are translated at the rate of exchange rullng at the Balance Sheet date. Transactlons denomlnated In forelgn currencies are eanverted at the rate of exchange rullng at the date of the tran5actl¢n. All transactlon dlfferences are taken to the statement of financial actlvStles as they arise. Taxatlon and Irreco¥erable VAT The Charlty Is not sublect to tax on Its In¢omei provlded that all surplus fvnds are used for Charltable purposes. Ac¢ordlngly, no provlslon Is made for tlxatlon. Irrecoverable VAT Is char8ed a8aSnst the category of resources expended for whlch It was Incurred. Glft Ald As membershlp subscrlptlons carry a rlBht to acquire cople5 of Studies In Church Hlstory at a price substantlally below the retall prlce char8ed by the publlsher, 14MRC wlll not permlt subscrlptltsns to be 81ft aided. Other donatlons may be. Baslc financlal Instrum¢nts Debtors and ¢redltors with no stated interest late and recelvable or payable wSthln one year are recorded at transattion prlce. Any loss•s arislng from impalrment are reco8nlsed In expenditure. Investments In èqulty Instruments are measured Inltially at falr value, which Is normally the transaction price. Investments are restatèd at market value each year at the Balance Sheet date. wlth changes reco8nlsed Sn thè statement of flnanclal actlvltles. Provlslons Provisions are recognised when the charlty has an obligation at the balance sheet date as a result of a past eveni, It Is probable that an outflow of economSc beneflts wlll be required in settlement and the amount can be rellably estimated. Judgements and key sources of estlmatlon uncertalnty In preparing the finan¢lal statements, the Trustees have consldered how bestto apply the Charit¢s accountln8 pclicles and make estlmates in the prèparation of the financial ststernents, where relevant. The Trusteès have not made any slgnificant estirnates in thèse flnancial statements.
THE ECCLESIASTICAL HISTORY SOCIETY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 I. DONATIONS AND LEGACIES Members, Publlcatlons Unrestrlrted Funds Funds Funds 31 March 31 March 31 March 2021 2021 2021 Members, Publicatlons Funds Funds 31 March 31 March 2020 2020 Unrestrfcted Funds 31 March 2020 SubscrSptions & General donations 9,740 9.740 9,543 9,543 9,740 9,740 9,543 9,$43 2. INVESTMENT INCOME Members, Funds 31 March 2021 Publlcatlons Unrestrlcted Funds Funds 31 March 31 March 2021 2021 Members, Funds 31 March 2020 Publlcatlons Funds 31 March 2020 Unrestrlcted Funds 31 March 2020 Interest 28 34 180 DSvldends 2,998 3,004 2,998 3,032 3,757 3,7S7 28 3.757 3,937 180 3. INCOME FROM CHARITABLE ACTIVITIES Mombers, Funds 31 March 2021 Publlcat5on$ Unr¢$trlrted Funds Funds 31 March 31 March 2021 2021 Members, Publlcatlons Unrestrlcted Funds Funds Funds 31 March 31 March 31 March 2020 2020 2020 Sales of PublScatlons Publlcatlon royaltles Summer Conference 5,517 5,517 4,961 4.961 8,307 8,307 9,624 9,624 18,781 18,781 Winter Conference 30 30 1,521 1,521 30 13,824 13,854 20,302 14.585 34.887 4. OTHER GAINSILOSSES MeMr5, Funds 31 March 2021 Publlcatlons Unrestrltted Funds Funds 31 March 31 March 2021 2021 Members, Fund5 31 Mar¢h 2020 Publlcatlon5 Funds 31 March 2020 Unrestrlctèd Funds 31 March 2020 Forei8n exchan8e 8aln 1531 1531 3S 35 IDepreciationl/Apprecl ation of investments 13,522 13,522 116,0421 116,0421 1531 13.522 13.469 35 116,0421 116,0071
THE ECCLESIAsllcAL HISTORY SOCIErY Pa NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 5. COST OF RAISING FUNDS Members. Fund5 31 Mah 2021 Publlcatlons Unrestrlrted Members, Publlcations Unrestricted Funds Funds Funds Funds 31 March Fund5 31 March 31 March 31 March 2021 31 March 2021 2020 2020 2020 FundralslnB and publlcatlon5 2,635 7,2 9.83S 1,634 7,100 8.734 2,635 7,2) 9,835 1,634 7,100 8,734 6. CHARITABLE ACTIVITIES Members, Publlcatlons Unrestrlcted Funds Funds Funds 31 March 31 March 31 March 2021 2021 2021 Members, Publlcatlons Unrestrlcted Funds Funds Funds 31 March 31 March 31 March 2020 2020 2020 Summer Conferen¢e Publlcatlons Wlnter Conference 8o¢k Prlies 3,560 3,560 5,040 385 18,648 18,648 5,080 2.339 S,040 5.080 385 2,339 2,SOO 2,SthJ 2,500 2,500 3,945 7,540 11,485 20,987 7.580 28,567 7. OTHER EXPENDITURE Members. Publlcatlons Unrestrirted Funds Funds Fund5 31 March 31 March JI March 2021 2021 2021 Members, Publlcatlons UnrestrSrted Funds Funds Funds 31 March 31 March 31 March 2020 2020 2020 Staff salary & payroll costs Bank char8es & commSssions 1,049 1.049 209 209 212 212 Paypal charges 121 121 333 333 Independent examiners fees 250 250 soo 500 Accountancy & administratlon fees Trustee expenses Database 1,783 1,783 1,830 1.830 239 239 1,858 1,525 3.383 900 900 development costs 3,263 239 3,502 6,632 1.525 8,157
THE ECCLESIASTICAL HISTORY SOCIETY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 The expense5, In¢ludlng attendance at Conferences, of the EditorSal team, have beèn charged to the Publlcatlons Account. Page l. 8. EMPLOYEES No persons were employed durlng the year. 9. TRUSTEES Trustees recelved no remuneration. Expenses relmbursed amounted to £23912020: £3,383) pald to I trustee in relation to the editorial commlttee. 10. GOVERNANCE COSTS Governance Costs are consldered to comprlse Trustee Expenses of £23912020- £3,383) and the Independent Exominerfs fee of £25012020.. £2501. 11. FIXED ASSEf INVESTMENTS Members, Publlcatlons Unrestrlrtèd Funds Funds Funds 31 March 31 March 31 March 2021 2021 2021 Members, Publlcatlons UnrestrlctÈd Funds Funds Funds 31 March 31 March 31 March 2020 2020 2020 M&G Charifund Imarket Value) 72,051 72.051 55,531 55,531 12. DEBTORS Members, PublItIOnS Unrestrfcted Members, Publlcatlons Unrestrlcted Funds Funds Funds 31 March Funds 31 March Funds Funds 31 March 31 March 2021 2021 31 March 31 March 2021 2020 2020 2020 Summei Conference Prèpayment 12,107 12,107 16,752 16,752 Sundry debtors 59 59 Publishlng ToyaltSes 8.307 8,307 9,624 9,624 12,107 8,307 20,414 16,811 9,624 26,435
THE ECCLESIAsficAL HISTORY soaETY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 Pa ell 13. CASH AT BANK Members, Funds 31 March 2021 Publlcations Unrestrlcted Members, Funds Funds Funds 31 March 31 March 31 March 2021 2021 2020 Publlcatlons Unrestrlrted Funds Funds 31 March 31 March 2020 2020 Cash on deposlt Cash at bank Inter fund transfer 23,763 6,239 5,203 1,218 28,966 7,457 23,736 1,444 5,197 972 28,933 2,416 8,885 38,887 8,885 12,4641 8,801 33,981 18,8011 12,6321 36.423 31,349 14. CREDITORS- amounts falllnz due wlthln one year Members, Funds 31 March 2021 Publlcatlons Unrestrl¢ted Members, Funds Fund5 Funds 31 March 31 March 31 March 2021 2021 2020 Publlcatlons Unrestrl¢ted Funds Funds 31 March 31 March 2020 2020 Durharn Unbverslty Semlnarlconference Room Accounts & Adminlstratlon Independent Examlners, Fees Sean Grlfflth- Book Prlze 700 700 570 570 570 S70 250 250 250 2SO 1,000 1,820 i.0) 1,820 1,520 1,520
Pa el¢ THE ECCLESIASTICAL HisfoRY SOCIErY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 15. Comparatlve breakdown for Statement of Financial Activltles Page Members, Publicatlons Unrestrlrted Funds Funds Funds 31 March 31 March 31 March 2020 2020 2020 INCOME FROM: Donations and legacies (note Il Investments (note 21 Charltable actlvltles (note 31 Total Intom• li 9,543 180 20,302 30,025 9,543 3,937 34,887 48,367 li 3,757 14,585 18,342 li EXPENDITURE ON: Cost of ralsln8 funds Inote 51 Charltable actlvltles (notè 61 Other (note 71 Total expendltur• 12 11,6341 120.9871 16,6321 129,2531 17,1001 17.5801 11,5251 116,2051 18,7341 128.5671 18,1571 145,458 12 12 Net Income Ideficltl GaSnslllossesl on Investments NET MOVEMENT IN FUNDS 772 2,137 16,042 113,9051 2,909 16,0071 113,0981 35 807 Reconc115atlon of funds,. Total funds brou8ht forward Tc>tal funds carrled forward 48,465 76,428 124,893 8116 49,272 62,523 111,795
THE ECCLESIASTICAL HISTORY SOCIETY Page 16 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 16. Comparatlve breakdown for Balance Sheet PJ8e Members, Publlcatlons Unrestricted Fund5 Funds Funds 31 March 31 March 31 March 2020 2020 2020 FIXED ASSErs: Quoted investment at market value Inote 111 13 55,531 55,531 CURRENT ASSETS: Debtors (note 121 Cash on deposit (note 131 Cash at bank (note 131 Total current assets 13 16,811 9,624 26,435 13 28,933 28.933 13 5,048 12,6321 6,992 2,416 50,592 57,784 LIABILITIES: Ciedltors.. Amounts fallln8 due wlthln onè year (note 141 Total net a5S•ts 14 11,5201 11,5201 49,272 62,523 111,795 The funds of th• charSty: Unr•strlcttd funds Members, ReserNe Publicatlon5 Reserve 15 Is 49,272 49,272 62,523 111,795 62,S23 62,523 7115 49,272 17. STUDIES IN CHURCH HISTORY The Eccleslastlcal Hlstory Soclety produces an aftnual volume in the serSes"Studles In Church Hlstorf ISCHI. which Is avallable to members at a discount, and to the general publlc. SubscrlblnB Members receive a copy of the year's volume. Of the subscriblng membershlp fee of 2020121, £2015 attrlbutable to Volume 56, and Is Included wlthln Publlcations Incorne In note 3 on Pa8e 11. 18. RELATED PARTY TRANSAcfioNS Detslls of trustee expenses are glven in note 9. There were no other related party tran5actlon5 In elther yèar. 19. ULTIMATE CONTROLLING PARTY The trustees consldèr that. whlle the trustees are in the maln elected by thè Members, It Is the trustees who are In day to dav control of the charity and there is no ultlmate controlling party.