Charlty regl8ts>tion nurnr 1055952 Company reglstsatlon number 3206850 IEn&4*nd ¥nd Wal•BI THE C.S. LEWIS FOUNDATION (UK) ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
THE C.S. LEWIS FOUNDATION (UK) LEGALANDADMINISTRATIVE INFORMATION Dr J S Mattson K C Gilnett Mr T Mall50n UrSEkno Sgcr•tary K C GItrtr Charlty numb•r 1055952 CoMnY numb•r R•ol•t•Md offl¢• The KilN Lewis Cb Headingloh Oxlordshire OX3 8JD Ind•p•nd•nt •xamln•r Crit(knys Awjit LLP 8traver Hous• 2>38 Hythè 8r*e Strn•t Oxtsrd OX12EP 8•nk•rn 8ardays (Oxford) Soll¢ltor• pennHtonY Mantr•8 LLP 94C¥J Garsinwon Road Oxford BUn&$$ Park Oxforfj OX4 2HN
THE C.S. LEWIS FOUNDATION (UK) CONTENTS Trustsas. rnp)rt 1Th46ndant exorninefs r•port ststern•nt offinandal •ctivi Balance sho•t Nore8 lo th• fin•ncial st8t•m•nts
THE C.S. LEWIS FOUNDA'fioN (UK) TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 DECEMBER 2022 The truste•$ present their annual report and fina181 stai8m8nts tsrthe year 8ThJad 31 December 2022. Th• fin8nckg1 ststemnts have been Ppared in accordanr Ihe aeu)unb'r4J pdia8s set out in note 1 to the financial stat•m8nt5 and compty wth the chantys govemiry document, the Cornpanies Act 2006 and Accounbng and Reporting by Chantws Ststem8nt of RecornmeThJed Practic8 applicable io ¢hanties ppar1Th9 their accounts in accordance wth the Finanual Rgporty'rrtJ StaThdard appluble in the UK Republic ol Iraland IFRS 1021" l•ffe¢ts've 1 January 20191. ObJ•ttlvo8 and actlvltS•• The principal activty of the Foundab"on is ts wJvancrnent of th& r•f44al gf Christian titought and Crea've expression throughout the world of leaming and thts cukure at large. The Foundabon has a partscular interest in the promotion of the stu0¥ ol and research Into t Irf¢ of C. S. Ltr44. and the publIcaon and diss6minab)n of thé usefvl su$ of such StlY research. and the athrwThent of the Chnsban faith. The trusts•s ¢onfinn that th have compli1 with th• dity in th• CPWrtB Ad 2011 to have due regard to th8 Charity CommissKJns general guidan on Publ¢ Benefft. Tlw are satisfied that the charity's adivits'&$ are availab to all mèmbers of th• Publ and that all its acbwi*S are d8rnonsirably for the benefit of those rnernbers of the public who to avail th•m8•fves of its S•Th. Achle¥•m•nts #nd p•rfornianc• The activities of Thè C. S. L•wts Foundath)n IUKI. li FourKlationl for ts y?•r ond•d 31 D•cber 2022 prim8rily consistsd of Ihese adivffjes.. 11 providing a rence at'The Kilns" lor vi$itir9 Schola 8tLtying in Oxlord.. 21 maintaining the historic nature and condrtion ol the horne.. 31 otsring tours to vwaitors from arouTrJ th8 Iwilh the kn8Mnlr•J impact of IM Covi&19 paThg8mi¢, we were able to coThJu¢t fijll tour SCIdUle for rnost ol the yearl.. 41 offering irtual tours ol the homg throtsJh zoom.. 51 fundraising for tho operaOn8 and Mainl•nan.. aThJ 61 mgintsining rèlath'onships vmh community, lh• hbO>tsJ. nSh. oty, and unNersths. th the lessenin9 Impad ol fv CovbJ-19 poTrJem. op8r•b"ons y•8r were mosty bath to pr•-pand?mic l?veLry. Our long temi scholar program conbnues to bè successful, •s usual. th Jll rooms fId in ts home throughout the year wilh schoLqrs Stl.ng in Oxford. Fln•nel•l r•vl•w All incom¥ and oxwnditure wag directy related to fulfilling the Found8bon$ puyjsas. Th? C. S. Lewis Foundation IUSAI regularty provKJes granfs to thtr Foundatson in Support ol the Foundation 8 ICSLF UK'BI op•ralin9 exp•n8es, includin9 the 18•s for Wl & prolessional ath'ce in¢urred dunThJ peri¢>J. The Trustees hav• conshl•r•d ts su8tsinabilty ol fv chanty •TrJ beli•v• th•t a mwiimum reserye of £10,OCQ 8hould be retain•d. The company curr•nty has unrostricbj res$ of£13.343.
THE C.S. LEWIS FOUNDATION (UK) TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Struetur• govgm¥nce and manayrngnt The C. S. Lawis Foundatrjn IUKI is a company Iirntsj by guaranteè aThJ registergj as a charity under the Ch8riti85 Act. The chaTrtab eornpany governed by rts Memorandurn and Arty'des ofAssooation. Thè C. S. Lewis Foundation (UK) was incorporated as a cornpany on 3 June Iregist8red cornpany nurnter 32088501 and registered by the Chanty Comrnission on 7 June ltharity number 10559521. Th• tharity is rn8n8ged by Trustees vtho meet as ar•J wuired but at lèast Onc¥ a ygor. The Trustees do not receNe Munra)n or oxperws. New trusteos ar• appointed 8th8f to fill ¥ vacancy or by way ol •Jdrtk)n to th& Board. pae18r •mpha¥18 is plae•d upon the appoinlm•nt ol trustees wrth kn¢th3e and exFernce relevant to the ¢hanty's 8cty"vities. When new trustees aro appointed they aye gN•n an intro¢luction to th• work of th¢ charity and provKJed with the inforrnation they ne•d to fvlfil Iheir roles. whh IndleS inf0mlat ottyJul tIN8 ro ol ts tntstees and th•ir ponsibilth'es und¢r the ChantNrys Companies Acis. Th Irusteesldirnctorn out beknw olko duriThJ th8 Who ol except wh•r• oth•Mis• $t•tsd. The company has no Share capital and tl directors have Th) M)t•rests in it. The truste•$, who are ajso th• dIf•¢tO for the pu#¥ of¢panY Lw. arKI who $Ned during the year aThJ up to the dat• ol signature of finantyal statements w•r¥.' Dr J S M8ttson K C Gilnelt Mr T Mattson Mr S Elmore The TnMt••8 ha¥e rt18ntId and ¢on5thrnd thè m8jor risks to whkh the charity •xpos•d and have establishtd Systems and Procedu to manage Ihose risks. The pripaI risk associated with the charity. operation remains tha av¥iLgbility of owratnaI gran¥. Furth•r d•tall• Further details of c. S. 1$ FouThJ•ts"on Ibtsth USA ar UKJ can be four¥J ty ¢ontactirg the chanty's registered offi¢• or by wsiting the web sits th.(SIe.S.0. Th8 trLtstee$' report wa$ approwj by th• Board ol Truat•e•. Mr S Elrnor• Trustee Dated..
THE C.S. LEWIS FOUNDATION (UK) CRITCHLEYS INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE C.S. LEWIS FOUNDATION (UK I r•port to thè trustees on rny examinatw ol the finala1 ststemènts of Tlw C.S. Foundation IUKI Ilh• chartyl for the year ended 31 De¢•mbw 2022. ReJpon•lbllhbo8 and b•sl$ ol rnport As the trustees of the chanty laThJ akn ts dirudor5 for pu)Se5 01 company lawl you are responsibl• lor th• preparation ol the financol stst8rn¢nts in ac¢xJrdance wrfh th• requirements ol the Compan5 Act 2CK)6 (the 2006 Acti. Having sabsfied myself that the finanoal $tateThents of the charity are not required to be auditsd Ltnd8r Part 16 01 th• 21x6 Act ond are eIg1b for irnlependent examinatK)n. I rtport in wpect of my exarninats'on of the charity's financial statements camed out uncler section 145 of the Charits Act 2011 (the 2011 Act). In tarrying out my examination I have foknved all the appl¢cabl8 Direclmybs giv by th• Charity ¢cmISs)n under section 145lSllbl of th8 2011 Act. Ind•p•ndènt•x¥mln•rfs •tst•m•nt I have complèisd rny examination. I confimi that matters hab• tts rny aitents'on in ¢xJnnec'on with the aX8minatyon giving me cause lo bIVe Ihat in any rnaterial r•scL ¢counting record¥ re not kept In r•sport of Ihe charity as r8quifftJ by seclion 388 of the 20C6Act.' or the finanoal statemènts do nol accord vnth those re¢otds'. or th• finanrio18tatem8nts do not compty vrtth Ihe 8wJunbw rnquir•m•nts of sedKJn 398 ol the 2006 Act oth8r than any requirem•ni that the xcijunts gi a true and lair VA IJ not a matter o)nsidor•d as part of ¥n independent èxaminotKJn', or tha financial stst•m•nts have not prepar•d in •cc4Jrdance lh• mthoJs and principles ol th• Statement of Recomrn•TrJ¢(I Pradic• for accounb'rrfJ aTrJ reporting by dIar? applicable to charities pmparing their accounts in accordan wth the Finanrial ReporbNJ Stsnd¥rd applicable in th8 UK and R•public ol IfelaTrJ IFRS 1021. I h¥ve no conc•rn$ and hav• ctsme ac¥oss no Olher matters Jn ¢>Jnnection wth th• gxarninab'on to which gttantion should be drawn in this r•port in order to •nAblg a proptsr understsnthng ol lh¢ financi81 statemonls to be reathed. Gary Pready FCA Crltchl•y• Audlt LLP 8•av•r House 23-38 HYtI Br*$3• Street 0xrI OX12EP 13 June 2023 08tod..
THE C.S. LEWIS FOUNDATION (UK) STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2022 Currgnt Ilnanclal y•ar Unv••tri¢tsd Endo¥¥ment fund• funds 2022 2022 Totsl Total 2022 2021 Donations and legacies Charitsbje acbwtss 48,818 12.3 48,818 12,31)) 11,598 15,775 Totsl Incom• 61,118 81,118 27.373 Raisinu lunds 10,SC¥) 10,5C#J 10,500 charitab 4ctwitK8s 44.745 44,745 29,403 Toi•l •xp•ndliur• 44.745 10.5 SS,245 39,903 N•1 mw•m•nt In fund• 18.373 110,SC4)1 5,873 112,5301 Fund bal•nc•s •11 Janu•ry 2022 13,OXII $49,C $45,970 5S8,SOO Fund baJn¢•• at 31 D•¢•mr 2022 13,343 538.5 551.843 545.970 The 8tat•ment ol finan aclMts8 Incr3 an gw.ro and r•coor*sed in th• year. All income •xpendrtur• deliv8 frorn ¢ctrny1ty ackn. The not•s on pages 7 to 11 lomi part oftre8e finaThipl stslemgnts.
THE C.S. LEWIS FOUNDATION (UK) STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2022 Prlor fln*ntl#l y•¥r Unr•stricted Endowment fund funds 2021 2021 Total 2021 Not•• Donations and charitsb 11.598 15.775 11,598 15,77S TolAI Ineom• 27,373 27,373 Rayoing fvnds 10,$00 10,SCK) Ch•rrtabkn a£t•S 29.403 29,403 Totsl •xp•ndltur• 29,403 10,5C 39,903 N•t mov•m•nt In lund• {2.0301 (10,SOOI 172,5301 Fund balanc Jt 1 January 2021 11.CKM)I $59,500 558.500 F¢&nd b•l•nc•• at 31 D•c•mb•r 2021 13.030) 549.000 545,970
THE C.S. LEWIS FOUNDATION (UK) BALANCE SHEET AS A T 31 DECEMBER 2022 2022 2021 Flx•d a8•ts Tangibkfj Assets $49,489 Current a•••ts Debtors Cash 8t bank 8nd in haTrJ 18,471 405 16,471 22.405 Cr•dltor•'. mounl• f•lllno du• tlthln on• y•ar 13.4941 125.9241 Net cuN•nt ass•tsllliabilth8sl 12,977 13,519 Tot•1 ¥•••l• l•• euff•nt Il•blllth• 551.843 545.970 C•plt•l fund• Endowment fun¢lJ- general In¢om• lund• Unr881n9O 10 538.5C4) 549.000 13.343 13,0301 $51,843 $45,970 Th• notes on pagt$ 7 to 11 fomi part of th•s8 fin•nc4al statsm•nts. The company entstkfjd to Ihe exempts)n Irryn the aL•Jrt wuir•m8nt ojnl¥il in Saction 477 of the CompAnb8A¢t 2006, for the year •nded 31 Dec•mber 2022. The directors &¢knedgts their responsibilils for comptying wth Ihè requiremenis ol the Compan3 Act 20C with respect to accounting records aThJ the preparafr.on of finanual 51atements. The memb•rs ha¥e not r8qtsiffjd the company to obtsin #n audit of its finanoal ststem&nts for th• ye¥r in qstiOn in accordan with sectron 476. Th8s¢ financi81 stat•rnents ha prepar•d in accordanc• vrith the provoKJr 8pp11cab to cOmn$ subject to the srnall companies regiJr*. The finanoal ¥tatements wwe approv•J by Trust¢es on ... .......... .. .. .... Mr S Elmore Tru8ts• Company regl8tratton numb•r 3206850
THE C.S. LEWIS FOUNDATION (UK) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 Aceountlng pollcl CharSty Inforrn4llon The C.S. Lewis F0UThYatn IUKI IS a prNats company l¥nrttyJ by guarantee incorporatsd in Eng18nd and Wales. The regisler8d offK L4 The lQkns. Le"$ Close. He•JiW, Oxfrnl$hire. OX3 8JD. 1.1 Ac¢ountlng eonvenllon The financial statsments h& toen pwared in 8cuJrdane• chaniys govemiv@ doojmènt, the Compans Act 20(6, FRS 102 'The Financial R•porting sta18¥d applicab in the UK and Republic of Ireland. I"FRS 102.1 and the Cants SORP "Accounting and Reportiry by Charities.. Statement of Raeornmended Practrce applica0 to charitS prepanng their acUThts in acLordanc8 with th¢ Financial Reporbng Standard applicabkn in th¢ UK and RepLtlic ol IrdarJ IFRS 1021" lll•ctN• 1 January 20191. Th charity is a Publi¢ eenefit Ethty 8¥ (lefi by FRS 102. Th th8rity has tskén th8nt8go of prowiiKsns in lh• SORP lor cha)bès to prepare a Statem•nt of Cash Flcws. The financial statam•nts are prepar8d in stsrlirg. whth 18 the lunctional cutr•rcy of the Larity. Monatary amounts in th8sa financial statem•nty rouThJ8d to the •eSt £. The finanoal $tstem8nts ha¥e been prnpared tM hotorical cost con¥•nbon. The prirKipAI a¢counbng polioes adopted are s•t out beknw. 1.2 Golno ¢OIIC•rn At the time ol 8pprovirrfJ th• financial $tat•m•nts. th8 trtthes ha4 8 M•B¢>natJle 8XF¢¢laD"¢n that the charty has adaquate resourcès to conb"nu• in operthonal exi8tenc• fDr Ihe foreable future. Thus tho tru$t•e continue to adopt tho going concém bosi8 of accountirg in prnparin9 the finanaal ststements. 1.3 Ch4rll•bl• fund• Unrèstricted funds are 8vall•b for u8• •t di8rygbon ol Ihe trustees In futhrnr&? of their charitable obJe¢live8. R•strrted funds are subjt¢t to speafi¢ condrt¥)n$ by donors 09 to hcw Ih•y may be us•d. purposes 8nd uses of thè restricted fvnds am set out in th• notes to financial statoments. Endowm•N fvnds or• subject to 8pecrfK CAIrt)5 by donors Ihat th• capital rnu8t t4 maintained ty the charity. 1A Ineom• Oonation¥ and grants ttHt ¢SJ not ffp ftrtur8 perfonnancthrelated or other gperyfic 0)ndOn8 are recegnised on t date on which the chanty has entilknent tsl the resourc*, the amount egn be reliably measure(l and the economic benefft to the Charity of thè donation or grant is probable. Donabons and grant5 subject to rf0mlO[[elattyJ coThJrtW ore recognwl as and Ihos8 COnd'0n$ are mèt. Legacies arg OgnIsed follown9 grant ol probate and On thanty has raeeNwJ suffiaeni information from the exutOr(SI of the Lyeceased s estste to be thai th8 gift can be reljably measured and that the econorn benefft to ts charty is probabftr. DonatK)ns. grants, and kga¢ie5 accruiNJ for Ihe general purposes of the charity are cr8drt8d to unrestrict•d funds. Donatyons, grants, and Wcies whth a(e subject to condrtions as tts their ¢Js& imp03es by the donor are dtted to stricted funds
THE C.S. LEWIS FOUNDATION {UK) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Accountlng pollel•8 Icontlnuedl 1ts Exp•ndltur• Expenditure i% atrounted for on an xcruaJ5 bas and gross ol any rel8t income. Costs that speafically relate to costs ol generats'ng funds and govemance costs are charged to those &xpèns• categories All other co8ts form part of the costs of the chantsbl8 acty"vty. G0Veman Gosts indle those costs, such 8$ Statutory audrt aTra kgol aTrJ pf01essty)n ts¢s. as%JcAated consts'tulKJnal and statutory requirernents. 1.6 Tanglbl• ftxod ••••t• Tangible fix a¥sets a m¢asured at cost and ¥ub3equenty mtsasurod at or valuatK)n, net of depclathjn Bnd any Impairmtrnt IJsg9$. DepCiatiOn 1$ rwniged so a5 to write off cost w valuation of their reshlual v8lu•s ov•r Ih•lr uwfijl liws on the folkw4irKJ ba8es'. Freeholj knd and bulldings Fix1uw aThJ fith'n98 Motor vehi¢K88 Office •quipment 50 year5 on a straJhl li b¥> 2S% ¥¢dwJr%J balanc• 2S% reding baLan 25% r8dIng b8Lgnce 1.7 Ch and ¢h •qulv•l•nts Cash and cash oquivaknnts inclLk in hand, deposrts hbJ at call wrth banks, olher short-lerrn liquid investments wth orvJinal maturithry$ of Ihro• months or l&ss. b•nk overdrafts. Bank overdrafts are shown thin borrthvings in current liabilrf$. R•l•lng lund• Endowrn•nt Endowm•nt fvnd• fund• g•ner•l g•nor•l 2022 2021 Dopreoats"on inpaimi•nl 10.500 10,500 10.500 10,500
THE C.S. LEWIS FOUNDATION (UK) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Charltsbl• aetfvltS08 Ch•rhable Ch•rltsbl• Exp•ndlturo Expondlture 2022 2021 Tour guhte M•rchandise 8.440 1,033 435 9,473 435 Share of support ¢0sts1gee r¥)t• 41 Sh•re ofgoveman¢• cc4ts18w not• 41 32,772 27,138 1,830 44,745 29,403 Support Support 13ov•man co•ts C¢• 2022SuFg0rt t>)sts Govwn*n¢ 2021 Depreciatien Gardener Ratès Insuran 123 4.374 123 4.374 183 3.876 3.194 3,728 9,359 1.361 163 3,876 3.194 3.728 9,3Sg 1,3e1 1,880 3,441 3.441 Other support costs Hirtd service8 Repairs and maintenance Int•rèst 5,618 5.618 1,263 1.841 1.263 1,641 1,999 1,578 1,578 Ind8p•nd•nl Exarnin•tion Fa, 1,830 32.7n 35.272 27.138 1.630 28.968 Anotysed beknn Charitable aCte 32,772 35,272 27.138 26,968 Tru•t••s None of the trustees lor any pgrsons cOntell wrth them) [Ne any rernunernth.on or beneffts from the charity during the ytrar.
THE C.S. LEWIS FOUNDATION (UK) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 T•M¥tlon The charity is exempt from lax on iwJm• 9oin¥ tslirg within seCt)n 505 ofthe Tax&s A¢t 1988 or ss¢tKin 252 of the Taxationol ChargtrablB Goins Act 1992 to th• xt¥nt that these are appld to rts charrtable objects. Tanglbl• fix •M•t• Ftyohohj Innd FNlyw •ndllot•f v•hkl•• •nd bulhjln fittin Tol•l •quIKthont Ct At 1 Januory 2022 675.C#XI 4,587 3,152 688.039 At 31 Decemb•r 2022 675.¢XK 4.587 3,152 686.039 D•pr•¢latlon and IM1nn•Thf Al 1 January 2022 Dopr8Ctats"efi ¢h•rged in tha 81 126.C 10.SL)) 4.329 3,114 47 3,107 136,550 10.623 At 31 De(ber 2022 136.5 4,394 3,161 3.118 147,173 C•rrylng amount At 31 Dec4mber 2022 139 53B,868 At 31 O•cember 2021 549.0 258 549.489 Lond and buihlirrfJ$ IludeS I• at £150,CO) whth is not d•prwabJ. D•btor• 2022 2021 Amounts 14lllng du• wlthln orn y•ir. by C. S. Lth"S Foundati IUSAI 22.000 Cr•dltor•.' •mounts f•lllng du• TNAthln on• yo•r 2022 2021 Bank overdrafts Accruals 24.094 1,830 3,494 3.494 2s,924 10-
THE C.S. LEWIS FOUNDATION (UK) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 10 Endowmont fund• EThJowment lunds teptesent assets whh mu¥1 be hebj pernanenfy by Ihg ¢harity. Income arisir4J on the èndowrnent hjnds can bè usèd In accordan with ihe objects of the charity and is included as unr•strictsd income. Any capilal 9ain5 or k)sses arising on assets fom part oftho lund. l j•firy 2021 •xp•nd•d1 J•nu•ry 2022 •xptrTrd•d 31 O•cember 2022 P•mi•n•nt ondovmi•nts The Kiln$ SSg,9)0 110,SC¥Jl 110.SQ)I 538.SOO 559.500 110.51)JI 549.0 110.5CQI 538.500 In 2010 th8 propety The Kiln$ was transferred to The C. S. L•wLq Ftsundatn IUKI by Th8 Kt'ln$ (Oxford) Ltd. in Oxford. This property forrns Ihe basts of Ihe trment fvrbj. 11 An•ly•l• of n•t M•t• b•tr•4wn fvnd• Unmirfct•d endowm•nl fund• lund• 2022 2022 Totsl UNv••trl¢t•d EndowTn•nt lund• fund• 2021 2021 Totsl 2022 2021 Fund balane4s at 31 Dec8mber 2022 a repr•sent¢il by. Tangib assets Currnnl $88eIla"lltieSI $49,aLkJ 549.489 13,S191 12.977 12.977 13.5191 13.343 538.9)) 551.843 {3,0301 549.¢XIO 545.970 12 R•lat•d party n8•¢I10• Th• C. S. Lo$ Foundaknn IUKI mwje no r•18 party trar*ocbons in th8 y•ar12021.' none). 13 UllSm•ts Controlllng Party The C. S. Lews FouratiOn IUKI is uknmatety controlled ty The C. S. Foundats)n IUSAI. whKh has th8 pow•r to appoint the Trustsès of The C. S. Lewis FoundatK)n ILIKI. During the year grant payments amounb.ng to £13.1 12021.. £6,550) recewd trom The C. S. Lewis Foundation IUSAI. The balants ovtstsndiro as at 31 Decernber 2022 was £012021." £22.0001 and ts included wthin debtors on the balance $heeL