2022-12-31-accounts

A Word from the Chair
Mission Director's Introduction
Directors and Trustees'	Report	4 —22
Our Objectives and Values
Executive Report		5-14
Resort Ministry		8-9
Communications		10-11
Environment		11-12
Property		12
Future Plans		13
Partnerships		14
Treasurer's Report		15-17
Governance and Council		18-22
How we are Structured		23
Independent Auditors	Report	24-26
Statement of Financial	Activities	27
Balance Sheet		28
Statement ofCash Flows		29
Notes to the Financial	Statements	30-41

How we a	re structured	re structured	re structured
Patrons	The Archbishop ofCanterbury				The Archbishop		ofYork
	The Archbishop ofthe	Province		of	The Archbishop		ofArmagh
	Alexandria				The Bishop of London
President	Vacant
Council	The Revd LJ Biggs				The Revd	K D Mentzel
Members	The Revd M N Dale				The Revd	F0Olokose
	Ms E Dumain				The Revd	M Sanders		(Resigned September 2022)
	Ms M Gardner (Appointed		September 2022)		Mrs E D Skudder
	Mr C Gayle				Mr G Sopp (Appointed				September 2022)
	The Revd Dr 5 Hance				Mrs A CTyndall		(Vice-Chair)
	Mr R A Hoyle				Mr CSWeller (Hon Treasurer)
	The Rt Revd R CJackson (Chair)				The Revd Canon		Dr G	I	Wilton
					The Very Revd TWright
Key
Management	The Council Members	and	Mission Director —The Revd Canon				RW Bromley
Personnel
Company	The Revd Canon RW Bromley
Secretary
Solicitors	Moore Barlow LLP
	Concord House
	165Church Street East
	WOKING GU21 6HJ
Registered	Jacob Cavenagh &Skeet
Auditors	5 Robin Hood Lane
	SUTTON SM12SW
Principal	Barclays Bank pic
Bankers	100Fenchurch Street
	LONDON EC3M SJD
Investment	CCLA Investment Management			Ltd	Ruffer LLP
Advisers	Senator House				80Victoria	Street
	85Queen Victoria Street				LONDON
	LONDON EC4V 4ET				SW1E5JL

				unrestricted	Restricted	Endowment	2022	rara/ Funds
				Funds	Funds	Funds	Total Funds	2021
			Note	f	f	f	f
Income from:				I
Donations and	legacies		2 (a)	288,408	199,443		487,851	322,474
Investments			2 (b)	64,519	1,394		65,913	65,439
Charitable activities			2 (c)	11,705			11,705
Other trading	activities		2 (d)	732			732	2,609
Other income			2 (e)	4,814			4,814	2,064
Total				370,178	200,837		571,015	392,586
Expenditure on:
Charitable activities			3(a)	413,670	195,286		608,956	586,730
Raising funds			3(b)	1,581			1,581	2,999
Total				415,251	195,286		610,537	589,729
Net (losses) on	investments			(47,012)		(115,817)	(162,829)	324,835
Net (expenditure)		/ Income	4	(92,085)	5,551	(115,817)	(202,351)	127,692
Transfers between		funds	11
Net movement	in	funds		(92,085)	5,551	(115,817)	(202,351)	127,692
Balances brought		forward 1January 2022		2,104,314	219,486	914,732	3,238,532	3,110,840
Balance carried	forward
31December 2022				2,012,229	225,037	798,915	3,036,181	3,238,532

			at 31 D	ecembe	r 2022
					2022	2021
				Note	6
Fixed assets
Tangible fixed assets				6	140,316	144,807
Investments				7	2,662,558	2,901,360
					2,802,874	3,046,167
Current assets
Debtors				8	132,713	81,971
Cash held with Investment Managers					41,576	69,799
Cash at bank and	in hand				96,151	70,091
					270,440	221,861
Creditors: falling	due within one year			9	37,133	29,496
Net current assets					233,307	192,365
Net assets				10	3,036,181	3,238,532
Income funds
Unrestricted funds
General free	reserves	(including			1,027,270	1,065,829
revaluation reserve f496,731
(2021:6543,743))
Designated					984,959	1,038,485
					2,012,229	2,104,314
Restricted funds					225,037	219,486
Capital funds
Endowments (including		revaluation	reserve	11	798,915	914,732
E278,124(2021:E393,942))
Total Charity funds					3,036,181	3,238,532

For	the y	ear ended 31 Decem	ber 2022	ber 2022
			2022		2021
Cash flows from operating activities:
Net cash provided by (used In) operating		activities Note (a)		(144,049)	(239,742)
Returns on Investments and servicing of		finance
Investment income			65,913		65,439
				65,913	65,439
Capital expenditure and income
Payments to acquire investments			(973)		(3,868)
Receipts from sale of investments			76,946		123,868
				75,973	120,000
(Decrease) In cash Note (b)				(2,163)	(54,303)
(a) Reconciliation of (expenditure)	/ income to net cash flow from		operating	activities
Net (expenditure) / income for the	period	(as per the		(202,351)	127,692
statement offinancial activities)
Adjustments for:
Depreciation charges					7,914
Investment income					(65,439)
Losses/(Gains) on investments					(324,835)
(Increase)/Decrease in debtors					7,040
Increase in creditors					7,886
Net cash (used in) operating activities				(144,049)	(239,742)
(b) Analysis ofchanges in cash balances
		At 31"			At 31"
		December		Cash flows	December
		2021			2022
Cash at bank and in hand		70,091		26,060	96,151
Cash held with Investment Managers		69,799		(28,223)	41,576
Total		139,890		(2,163)	137,727

otes to the fina Income	ncial statements for	the year ended 31D	ecember	2022 (continued	)
				2022
		Unrestricted	Restricted	Endowment	Total
(a) Donations and	legacies	f	f	f	f
Subscriptions	and donations	132,022	196,618		328,640
Donations from churches		4,579	2,825		7,404
Donations from chaplaincies		34,850			34,850
Resort mission	collections	13,877			13,877
Legacies receivable		103,080			103,080
		288,408	199,443		487,851
(b) Investments
UK source d		64,519	1,394		65,913
Overseas sourced
		64,519	1,394		65,913
(c) Charitable activities
Chaplains' conference		11,705			11,705
(d) Other trading	activities
Greeting card	sales	732			732
(e) Other income
Receipts from	stamp donations	755			755
Sundry income		4,059			4,059
		4,814			4,814
TOTAL INCOME		370,178	200,837		571,015
				2021
		Unrestricted f	Restricted	Endowment	Totalf
(a) Donations and	legacies
Subscriptions	and donations	142,143	133,740		275,883
Donations from churches		3,956	2,425		6,381
Donations from chaplaincies		22,087			22,087
Resort mission	collections	5,028			5,028
Legacies receivable		13,095			13,095
		186,309	136,165		322,474
(b) Investment income
UK sourced		63,998	1,441		65,439
Overseas sourced
		63,998	1,441		65,439
(c) Charitable activities
Chaplains' conference
(d) Other trading	activities
Greeting card	sales	2,609			2,609
(e) Other income
Receipts from	stamp donations	1,681			1,681
Sundry income		383			383
		2,064			2,064
TOTAL IN COME		254,980	137,606		392,586

Notes to the financia 3 Expenditure	i statements fo	r the year en	ded 31De	ember 2022 (c c	ontfnuedj
		2022			2021
(a) Charitable activities	Unrestricted E	Restricted E	Total E	Unrestricted E	Restricted	Total E
New Mission work
Izmlr		12,001	12,001		10,004	10,004
Kortrijk	2,024		2,024	2,430		2,430
Rotterdam				4,444		4,444
Corfu	4,308		4,308	2,230		2,230
	6,332	12,001	18,333	9,104	10,004	19,108
Ongoing Mission work
Permanent chaplaincies	8,942	150,253	159,195	3,222	176,214	179,436
Chaplains Conference	23,345		23,345
Resort missions		33,032	33,032	28,457	6,880	35,337
	32,287	183,285	215,572	31,679	183,094	214,773
Staff &support costs
5~aft
Salaries	207,407		207,407	198,248		198,248
National insurance	13,554		13,554	13,328		13,328
Pension contributions	26,094		26,094	25,427		25,427
Other staff costs	7,698		7,698	8,478		8,478
	254,753		254,753	245,481		245,481
Support costs
Premises	32,399		32,399	17,146		17,146
Travel	16,745		16,745	7,281		7,281
Communications	31.771		31,771	28,687		28,687
Governance	12,543		12,543	9,343		9,343
Othersupportcosts	26,840		26,840	44,911		44,911
	375,051		375,051	352,849		352,849
Total charitable activities	413,670	195,286	608,956	393,632	193,098	586,730
(b) Raising funds
Fund raising
Fund raising costs	1,581		1,581	1,035		1,035
Fund raising trading costs				1,964		1,964
	1,581		1,581	2,999		2,999
TOTAL EXPENDITURE	415,251	195,286	610,537	396,631	193,098	589,729

4	Net Income	(Expenditure)
					2022 f		2021.f
	This is stated	after charging:
	Auditors'	remuneration	for audit services			7,440		6,500
	Auditors'	remuneration	for other services			2,287		1,800
	Depreciation					4,491		7,914
	Operating	lease rentals	- land and buildings			10,000		10,000
	Operating	lease rentals	—other	equipment		2,208		2,005
	Exchange	(gains)/losses				(418)		2,650
5	Staff Costs and Council Members'			expenses
					2022		2021
					No.		No.
	The average	number ofemployees		during the year was:	7		8

Fixed Assets
	HerItage assets	Swiss copropridtd apartments	Freehold property	EquIpment	Total
Cost
At 1January 2022 and
31December 2022		192,475	85,084	44,033	321,592
Depreciation
At 1January 2022		104,961	27,791	44,033	176,785
Charge for the year		3,849	642		4,491
At 31December 2022		108,810	28,433	44,033	181,276
Net book value
At 31December 2021		87,514	57,293		144,807
At 31December 2022		83,665	56,651		140,316

Belgium:	Holy Trinity,	Brussels	Netherlands:	St. Mary' s, Rotterdam
France:	Holy Trinity,	Cannes		Holy Trinity, Utrecht
	St. Peter' s, Chantilly		Spain:	St.George' s, Barcelona
	Holy Trinity,	Maisons-Laffitte	Switzerland:	St. Peter' s, Chgteau-d'Oex
	St. Michael's,	Paris		All Saints', Vevey
	St. Mark's, Versailles			St. Bernard's, Wengen
				St. Peter' s,Zermatt

Investments
				2022 f	2021.f
Quoted investments
Brought forward				2,901,360	2,696,525
Additions				973	3,868
Disposals				(76,946)	(123,868)
Net realised gains				28,075	32,327
				2,853,462	2,608,852
Net unrea lised	(losses)/gains			(190,904)	292,508
Quoted investments		at	fair value carried forward	2,662,558	2,901,360
Debtors
				2022 f	2021f
Income tax recoverable				24,629	12,106
Debtors and accrued		income		95,125	56,736
Prepayments				12,959	13,129
				132,713	81,971
Creditors
				2022 f	2021f
Other taxation	and social security			4,892	3,568
Accruals and deferred			income	32,241	25,928
				37,133	29,496

				Current
		Tangible	Investments	assets less	Total
		fixed assetS		liabilities
2022			f	f	f
Unrestricted	General free funds		1,019,000	8,270	1,027,270
Designated	funds	140,316	844,643		984,959
Restricted funds				225,037	225,037
Endowments			798,915		798,915
		140,316	2,662,558	233,307	3,036,181
				Current
		Tangible	Investments	assets less	Total
		fixed assets		liabilities
2021			f	f	f
Unrestricted	General free funds		1,092,950	(27,121J	1,065,829
Designated funds		144,807	893,678		1,038,485
Restricted funds				219,486	219,486
Endowments			914,732		914,732
		144,807	2,901,360	192,365	3,238,532

Notes to the finan	cia	l	statemen	ts for the	year ended	3fDecembe	r 2022 (con	tinued)
11Funds
2022				Balance brought	Income	(Expenses)	Transfers	lnvest- ment	Balance carried
Unrestricted funds				forward f		f	f	gains f	forward f
General free fund				1,065,829	370,178	(413,228)	51,503	(47,012)	1,027,270
Designated funds
Fixed asset reserve				144,807			(4,491)		140,316
Operational reserve
Chaplaincies reserve				150,000					150,000
Funds set aside for	new		work	43,678		(2,023)			41,655
Loans reserve				200,000			(200,000)
200-Year Anniversary		Reserve					200,000		200,000
Investment diminution			reserve	200,000			(47,012)		152,988
Property reserve				300,000					300,000
				1,038,485		(2,023)	(51,503)		984,959
Total Unrestricted	funds			2,104,314	370,178	(415,251)			2,012,229
Restricted funds
Mission partnerships		—Europe		21,893	3,661	(12,001)			13,553
Mission partnerships		—N Africa		38,462	12,325	(6,307)			44,480
St Bernard's, Wengen				25,623	6,130	(20,552)			11,201
St Peter' s, Zermatt				38,194	19,067	(12,480)			44,781
Chaplaincy work				95,314	159,654	(143,946)			111,022
				219,486	200,837	(195,286)			225,037
Endowment funds				914,732				(115,817)	798,915
2020 Unrestricted funds
General freefund				1,005,434	254,980	(392,287)	(16,328)	213,930	1,065,829
Designated funds
Fixed asset reserve				152,720			(7,913)		144,807
Operational reserve				1,631			(1,631)
Chaplaincies reserve				150,000					250,000
Funds set aside for	new		work	22,250		(4,444)	25,872		43,678
Loans reserve				200,000					200,000
investment diminution			reserve	200,000					200,000
Property reserve				300,000					300,000
				1,026,601		(4,444)	(16,328)		1,038,485
Total Unrestricted funds				2,032,035	254,980	(396,632)		213,930	2,104314
Restricted funds
Mission partnerships		—Europe		18,790	13,108	(10,005)			21,893
Mission partnerships		—N Africa		37,247	1,215				38,462
StBernard's, Wengen				25,562	2,229	(2,167)			25,623
St Peter' s, Zermatt				35,898	7,009	(4,713)			38,194
Chaplaincy work				157,482	114,045	(176,223)			95,314
				274,978	137,606	(193,098)			219,486
Endowment funds				803,827				110,905	914,732

			2022	2021
			f	E
Within	one year		11,952	12,005
Between 1and		5years	1,561	12,1B1
			13,513	24,1B6
The operating		lease charges for the year were:
Hire ofequipment			1,952	2,005
Renta	I		10,000	10,000
			11,952	12,005

alances at 31D	ecember are	set out below:
		2022			2021
						Total
	CBF funds	COIF funds	Total funds	CBF funds	COIFfunds	funds
Holy Trinity, Cannes	7,088		7,088	10,9B7		10,987
St. Michael's, Paris		218,917	218,917		249,954	249,954
	7,088	218,917	226,005	10,9B7	249,954	260,941