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|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|
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|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|||||
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|||||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|
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|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|
##
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|||||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|
##
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||||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|
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