THE ARCHBISHOP OF CANfERBURY*S ANGLICAN COMMUNION FUND Charity No 1078032 TRUSTEES. REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2021
THE ARCHBISHOP OF CANfERBURY'S ANGLICAIY COMMUNIO]Y FufgD OFFICERS AND ADVISORS TRUSTEES The Most Revd & Rt Hon the Archbishop of Canfrrbury Mrs mOrie Bannister Mrs Marion M Dawson Carr Mr Alec Dawson The Revd Duncan Dornior Lord Green of HurstpieTFK)int Lady Green of Hutstpierpoint The Most Revd Josiah Idowu-Fearon Ms Anne Noel Jones Ms Beverley Jullien The Most Revd Paul Kwong Mr Christopher L Mann The Revd Bany E Nichols Mrs Suzannah O'Brien Mr Andrew J Roberts Mr Julian Roberts Canon Margaret Swinson Ms Julie L Wareham (Julie Noon) Mrs Pamela Wesley Chair USA USA UK UK UK Nigeria USA UK Hong Kong, China USA UK UK UK UK UK UK USA PRINCIPAL OFFICE Lambeth Palace, London SEI 7JU CHARITY NUMBER 1078032 BANKEKS CAF Bank Ltd 25 Kings Hill Avenue Kings Hill West Malling Kent ME 19 4JQ National westm1ter Bank plc 169 Victoria Street London SWIE SNA CBF Church of England Deposit Fund Senator House. 85 Queen Victoria Street London EC4V 4ET SOLICITORS Michelmores 12 Floor. 6 New Street Square London EC4A 3BF INDEPENDENT EXAMINERS BoTucki & Co 42 Radnor Road Harrow HAI IRZ
THE ARCHBISHOP OF CANfERBURY'S ANGLICAN COMMUNION FUM) TRUSTEES, REPORT For the year ended 31 December 2021 The Trustees of the Archbishop of Canterbury's Anglican Communion Fund (the Fund) present their report for the year ended 31 December 2021 Objective8 aDd activities Objectives and Ihepublic benef The principaI objectives of the Fund are: to provide lStanCe for the provinces or dioceses of the Anglican Communion at times of crisis in the Anglican Communion or th¢ community; to support strategie initiatives to assist religious and other charitable work of the Anglican Communion. and to provide official representation of the Anglican Communion at international institutions and consult*ions including the Anglican Communion Office at the ljnited Nations. Ther¢ is no other substantial source of funding for these purposes available to the Archbishop of Canterbury which is accessible wholly for the general purposes of the whole Communion. The aim of the Fund is not to supplant thc generosity of individual parishes, dioceses or provinces but, rather, to support th¢ work of the Church locally on behalf of the whole Communion. When planning the charity's activiti¢s, the TteeS have regard to the Charity Commission¢rs' guidance on public benefit and in particular lo the specific guidance on charities for the advancement of r¢ligion. Signifan/ ocllvlties Each year thc Fund invites applications for grants from the provinces, dioceses and central inslilutions of the Anglican Communion. Grant applications may be initiated by the Archbishop of Canterbury, the Secretary General of the Anglican Communion and individual Primates or Presidents of Regional Councils recognised by the Anglican Consultalive Council. Fonnal application and accountsbility pmcedures have been approved by the trustees. Grant applications ar¢ nornllY considered at a meeting of the trustees held towards the end of each calendar year when the amount of income available for distribution the following year is likely to be known. The Management Committee may approve grants to respond appropriiltely to requests without undue delay. The Fund requires aIl recipients of grants to sign a grant aement before grants are paid and to submit rewrts on the utiiisation of the grdnts every six tnonths and on completion of ihe project. The rep)rts received are teviewed by a staff member when receiv¢d and a report on these reviews is considered by the trustees ai the nexi trustee meeting.
Aims and a¢tivitiesfor the year The main ain)s of the Fund for the y¢ar were: To m&xinllse the income availabl¢ for grants by supporting the ttwtees of The Friends of the Archbishop of Cantcrbury's Anglican Communion Fund (the Friends) as required. To allocate the income availablc to projects which fulfilled the objectives of the Fund. To monitor the submission of reFK)rts by recipients and to ¢Dsure that the grants paid have been properly applied. In addition". in July 2020 the Archbishop of Canterbury launched the Together in Unity Appeal. an appeal to th¢ Anglican Communion to supEx)rt one another by providing funds for churches and communities around the world in particular need during the Covid 19 pandemic. This appeal is being administered jointly the Friends and the Fund. On l July 2021 the Fund took over the resTX)nsibility for athninistering the Personal Emergencies Fund (the PEF) from the Anglican Consultative Council. The PETr is a fund established in 1979 by the late Archbishop Donald CoggatL th¢n Archbishop of Canterbury, to give fuwlcial assistance to clergy and members of their families, throughout the Anglican Communion. facing personal medical emcrgencie8. The PEF provides help for urgent or critical medical needs of bishops, clergy, lay-workers und their families or dependants and, where FK>ssible, medical treatment is provided in the applicant's own county. AehievemeDt and perfornianee In 2021 the Fund received donations of £480,347 from the Friends, as well as direct donations totalling £65,950. This represented £50,996 taised for the Together in Unity Appeal and £495,301 for the usual activities of the Fund. The Fund also received £361.660 transfeTred from the Anglican Consullative Council. bcing the funds held for the PEF. Of this £243,297 was Capital Funds inlended for long tern] investment and £118,363 was Revenue fimds available for distribution. The Fund made grants totalling £205,247 from the Together in Unity Appeal, £20.142 from the PEF and a further £423,355 for the usual activities of the Fund. Full details of the grants made in 2021 and the previous year are set out in note 5 to the acc()unts. Reports received from recipients of grants have been reviewed and procedures to ensure that rep)rts are received on a timely basis are in place. Administration expenses totalled £61.312 being I 10/0 of the regular income of the Fund. During the year the Fund's investments increased in value by £20.184. FinaDeial review The accounts of the Fund are set out on pages 10 10 20. At 31 December 2021 the unrestricted funds carried forward totslled £53,190. In addition, the following Restricted Income Funds were held:
US donations £29.851 Relained to meet t administration ex nses in 2022 Bisho Radford Trust £18.2(K) Retained to meet rant adn]iillstration ex enses in 2022 Together in Unity £13.410 Available for grdnts for Covid relief Women on the Front Line £17,387 Available to cover th¢ costs of Women on the Front Line Retreats led by Mrs Caroline Welby" this programm¢ has been delayed because of the Covid 19 andcmic. PEF Ca ital funds £245.741 Thes¢ funds are invested. PEF Revenue funds £95.769 Available for PEF rants Oldfield Tn Available for )rants to the West indies £I(X),000 is retained in the (unrestricted) Reserve Fund which may be drawTr upon by th¢ trustees in any year in which the income received from the Friends drops by more than twenty per cent when compared with the previous year. The funds held in the Reserve Fund (£IOO.000) and the bulk of the PF.F Capital Funds (£239,264) are invesled with the Central Board of Finance of the Church of England divided equally between two equity funds, b¢ing the CBF Church of England Investment Fund and the CBF Church of England Global Equity income Fund (see note 7 to the acunts) Any other surplus funds are invested in UK interest Etaring accounts. The principal funding sources for the Fund during the year were the Friends supported by th¢ American Friends of the Archbishop of Cant¢rbury's Anglican Communion Fund Inc. (the American Friends). The grants made during the year supp)rted the key objectives of the Fund &8 set out below. 2021 2020 Granl.s ro Provinces of ihe Anglic¢m Communion in times of acule need- Covid J9 205,247 314,966 2019 ants redesi led io be wed or Covid relie 41,004 Grants fo Provinces of ihe Anglican Communion in of acute need 44.127 20,287 Granls lo supporl slrategic iniliatives fo aFsisl religiouF other charilable work o the An ican Communion Slrale Inershi 31,450 General 304.228 210,828
Grants for Anglican Communion represenlalion COPLsultafions 75,000 71,080 Grants b Personal Emer encies Fw 20.142 Total rants a roved in Ihe ear 648.744 689.615 In 2017 a decision was taken to develop deeFtr relationships with a small number of pmvinc¢s who wish to embark on well plam)ed strategic dev¢lopments but who cannot do so without external funding. These are aIgnated as "Strategi¢ Partnerships" Funding at a level of about £50.000 per annum per partnership for a period of up to three years is considered and third year grants have been made to the provinces of Sudan and Tanzani& Grants totalling £31.450 were made to the Congo in 2020. prepardtory to a longer terni partn¢rship. This programme has been delayed because of the Covid pandemic. The trustees have maintained the support given by the Friends and the Fund to the Anglican Comtnunion Office at the United Nations and have continued to support the Anglican Centre in Rome and the work of the Diijcese in Europe in connection with Anglican Repr¢sentation at European Institutions. Impaet of Coronvirus The coronavinLS pandemic has not had a significant impact on the fundraising ability of the Friends for the usual activities. However, the Together in Unity Appeal raised £419.895 in 2020 and £50,996 in 2021 enabling the Fund to respond to a high level of applications for emer8¢ncy grants to meet the nee<ts of communities around the Anglican Communion affected by the pandemic. Plans for future periods On l January 2022, the Fund took over the fundrnising role previously undertaken by the associated charity The Friends of the Archbishop of Canterbury's AJ)glican Communiun Fund. Thi8 IS to simplify the activities and operations in the UK which are now wholly undertaken by the Fund. The American Friends of the Archbishop of Canterbury's Anglican Communion Fund, Inc will conlinue to act as our fundraisiD8 ami in Ameri The trustees aim to seek growth in the income of the Fund to enhance the ability of the Fund to provtde financial support to the Anglican Communion and the international ministry of the Archbishop of Canterbury. In particular, &s funds become available, the Fund is aiming to develop fimher strategic p8rtherships with individual provinces without significantly diminishing the fimds available to provinces in times of crisis, for strategic initiatives and for Anglican Communion representstion and consultations. Structure governanee and management Governing documents The Fund w&s created by a deed of trust dated12 November1997 forthe Ixnefit of the churches and provinces of the Anglican Communion and the international ministy of the Archbishop of Cterbury. This deed has been amended by Supplemental Deeds dated 15 October 1999. 14 D¢ccmber 2016 and 20 October 2021. On 3 November1999 the Fund was registered in England as a Charity.
Recruilment and appoinlmenl ofnew Iruslees The Ar¢hbi5hop of Canterbury, the Chair of the Inter-Anglican Finance and Administration Committee and the Secretary General of the Angli Communion are ex-officio trustees. Five co-opted trustees are appointed by th¢ Archbishop of Canterbury. Three trustees are non]inated by the Anglican Consultative Council (the ACC) of whom at least one shall be a rnemb¢r of the ACC Standing Committee. Two trSte¢S are nominal by the Primates, Standing Committee of whom at least one sh211 Ix a member of the Primates, Standing Committee. Th¢ Vice-chair of trustees, who is also the Chair of the Management Committee, is nominated by the Archbishop of Canterbury. As a result of Changes made by the Supplemental Deed dated 20 October 2021 there may be up to eleven elected trustees who shall be lay persons or non- stipendiary ministers with relevant commercial knowledge and expertise. This replaced the right of tbe Friends to nominate additional trste¢S. Each trustee holds office for an Initial t¢rn] of three yeaTS and is eligible for re-appointment. Induction and ¢rnining of trusle£s The tK)licies and procedures of the Fund and the respM)nsibilities of trustees are explained to new trustees by the chainnan of the management committee and the tr¢asurer. Organisationalslruc¢ure and decision nwkingprocess The Fund is controlled by the Trustees who meet at least once a year when they consider all grant applications. The Trustee8 have established a Management Committee to deal with the day to day affairs of the Fund. The members of the Mana8¢ment Committee are indicated by in the list of trustees set out below. Relatsdpartiti and wider nelwor Until 31 December 2021 the Fund worked closely with the Friends which acted principally as the fund-raising arni of the Fund and also had the right to nominate some of the trustees of the Fund. Each year the Friends made one or more grants to support particular projects and granied the balance of their available income to the Fund, subject to a ret¢ntion to cover the following six months, ¢stimated net operating expeELses of the Friends and the fund. With effect from 31 December 2021 the Friends transferred this fimdraising role and all of its funds, except for £2,000 being the estimated costs of winding up. to the Fund. The fiund applies its income for the benefit of the churches and provinces of the Anglican Communion and the international ministy of the Archbishop of Canterbury. The Fund works closely with the American Friends, an American non-profit organisation, which has a fundraising role in the United States of America and which has to date made grants each year to the Friends and which has agreed in future lo make grants directly to the Fund. Certain trustees of the American Friends are also trustees of the Friends and the Fund. Risk managenwnl The major risks to which the Fund is exEK)sed have been revi¢wed and procedures have been established to mitigate those risks. The main risk is considered to be the wssibility that grants made not applied for the approved purposes. To mitigate this risk grantees aTe required to submit detailed reports on the of the fLmds received within six months. and in many cases only a prowrtioll of the approved grant is paid until an interim report on project progress is received.
Trustees, statement of responsibility in relation to tbe accounts Under charity law, the TnLStees are r¢snSIble for preparing the TnLStees' Artnual Report and the financial statements for each financial year which show a trne and fair view of the state of affairs of the charity and of the exc8 of incorae over ¢xpenditure for that period. In preparAng these financial Statemen generally acceptoj accounting practice ¢ntails that the trustc¢s: Select suitable accounting policias and apply them consistently. Make judgements and estimates that are re&8onable and prLent. State whether the recommendations of the Statement of Recomrnended Practice have been followed, subject to any ma*riai departures disclosed and explained in the financial statements. Prepare the financial statements on the going Concern basis unless it is inappropriate to presume that the charity will continue its activities. The Trustees are required to act in accordance with the tnt deed of the charity. within the framework of trust law. They are r¢sFK)nsible for keeping proper accounting records, sufficient to disclose, at any time, with reasonable accuracy the financial position of the charity at that time, and to enable the Trustees to ensure thaL where any ststements of a¢count are prepared by them under section 132(1) of the Charities Act 2011. those ststements of account Comply with the requirements of regulations und¢r that provision. They have general responsibility tor taking such steps as are reasonably open to them to safeguard the &ssets of the charity and to prevent and de¢t fraud and other i¢gUlaritieS. Reference administralion details LegaI and administrative inforn)ation set out on page I fornis part of this report. The trustees of the Fund the date of this Yert are listed on page l. Those who served during the p¢riod since l January 2021 were: The Most Revd & Rt. Hon Justin Welby the Archbishop of Canterbury UK Mrs Mariorie Bannister UK Mrs Marion M Dawson Carr USA Mr Al¢¢ Dawson USA The Revd Duncan Dornior IA)rd Green of Hurstyierpoint Chair- Ex4OtTI¢io Elected Nominated by the Friends Nominated by the Friends Co-opted Nomtnated a5 Vice-¢hair by the Archbishop of Canterbury Nominated by the Friends Secretary General of the Attgli( Communion- Ex-offi¢io Nominated by the Friend4 Lady Green of Hurstpi¢twint UK The Most Revd Josiah Idowu-Fearon Nigeria Ms Anne Noel Jones Ms Beverley Jullien The Most Revd Paul Kwong USA UK Hong Kon& Cwted ChiDa
Mr Christopher L Mann The Revd Barry E Nichols Mrs Suzannth O'Brien Mr Andrew Roberts Mr Julian Roberts Canon Margaret Swinson USA Nominated by the Frithds Treasur - Nomina*d by the Friends NoAniD#ted by the Friend8 Ci)4)pted (appointed 21 Octokr 2021) Nominated by the Friends Chair IDt¢r Angllcan Finance and Administration * UK UK UK The Revd Paul Thaxter Ms Julie L Wareham (Julie Noon) MTS Pamela Wesley UK Cwted (resigned 14 January 2021) Nominated by the Fri¢nds Elected 21 October 2021 USA Members of the Management Committee With effect from 3 April 2018 Ms Safiya Nyirongo was employed by Lambeth Palace to serve &s Chief Executive Officer of the Fund and with effect from 17 June 2019 an Administrativ¢ Assislant was also employed by Lambeth Palace. The Fund and the Friends bear their employment costs. Trustees Revd Paul Thaxter resigned as a trustee on 14 January 2021, Mr Andrew Roberts was appointcd a Co-opted trustee on 21 October 2021 and Mrs Pamela Wesl¢y was elected as a trust¢¢ on 21 October 2021. With effect from 21 October 2021 rd Green of Hurstpierpoint was nominated by the Archbishop of Canterbury as Vice-chair and Chair of the Management Committee. and Mrs Marjorie Bannister, whose t¢nn of offic¢ &s a tThte¢ nominated by the Friends expired, w&s r¢-elected as a trustee. +JustlD CaDtuAr. Chair 2022
Accountant's report Indep¢ndeDt exaniiner's report to the trustees of The Archbishop of Canterbury's Anglican Communion Fund I report on the accounts of the trust for the yeat ended 31 December 2021, which are set out on pages 10 to 20. Respective rt8ponsibilities of trustrt4 and enminer The charity's Irustees are responsible for the PTeparation of the accounts. The charity's truste¢s consider that an audit is not required for this year under section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is need¢d. It is my r¢sponsibility to: examine the accounts under section 145 of the Clwities ACL to follow the procedures laid do1 in th¢ general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act), and to state whether particular matters have come to my attention. BASIS of independent ¢xamiDer's report My examination w&8 carried out in aOrdanCe with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts prescnted with those records. It also includes Consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audiL and consequently no opinion is given as to whether the accounts present a 'true and fair, view and the report is limited to those matters set out in the statement below. Independent Examiner's statemenl In connection with my examination, no matter came to my attention: (i) which gives me reasonable cause to believ¢ that in any material respect the requirements: to keep accounting rdS in ac£ordance with Section 130 of the Charities ACL to prepare accounts which accord with the accounting records and comply with the requirements of the Charities Act have not been meL or (2) to which. in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. J I Borucki FCA Borucki & Co Chartered Accountants and Registered Auditors 42 Radnor Road Harrow HAI I RZ 2022
THE ARCHBISHOP OF CANTERBURY% ANGLICAN COMMUNION FUND fATEMENT OF FINANCIAL ACnVITILS For the yur ended 31 DeceberlI12I 2021 2021 2021 2020 JIot Gjxnt Th¢ Fricrth of Ar¢hbi51 ofCantabuWs An8li¢an Cornm1 FLryI UK don8tions To8eiheT In Unity- Ctivid 19 Apr Pc¥8DJthl I:mergenrJes Trund trattSferd f An8lic4n Con8uliative Council DonlonS 10 Pey5(wl Imer8ettci¢s Fwld Pnor ycar 8Tants tanrclkd crf Rth¢d J20.911 40.950 359.436 480,347 65.950 766.337 361.W 361.060 75,39 942.865 161.861 749.221 911.082 Inwme from InVThts Int¢r¢51 receiv8ble Total ¢0< 3286 65 16&212 1.622 4.908 65 3.188 450 946J03 750yJ Exptlldltu (iraiiL% to Provinett of the Angi1¢xCUri in limes of need. Covid 19, new Brants 2019 Branu tt&siw>J to bE wed for Cthd Yelief ()th¢r GranL4 for $tr3frw¢ ifitlialivm.. Slraiegic p8rtn¢rShl G¢n¢rat projects Gr#nLs Ipr cmni repre and consultsiions Grgnis by PtTsonal EM¢TWlES FurKI 205.247 205.247 Jl4.966 41.004 20.287 35.( 9.127 44.127 31.450 210,828 120.198 184.030 304,228 75,0(M) 75,1I)O 20 142 20.142 493J46 648,7H 71.080 IS198 Adrnln151r&rfon Adm2nistyation Lossll(illi¥LI on excharw 57,113 4.199 61 J12 $6.229 12381 Totsi expettdhnre 2l2J12 497.745 710m7 745 Ntt kncomelldefitll) 147.1rf11 2$3AI98 21J&9Y8 2(rfIJ97 TrAnsttr to c.ovhj 19 hpds Other reto%nu¢d ylnsllknu) Realid gain on Invui)x1 17.740 20.184 13371 Nc¢ MovtmeDt in Fullds (29J60) 255J42 226.182 214,168 Fujjd bplwjcu brought forw¥rd4t th¢ t4irnJing ofy 81550 I(KI.IXXl 169.816 352,366 138.198 FRnd hlaM¢¢s ujnied t•rwiYd #i end of yt*r 53.190 Ii¥J,tMNJ 425J58 57LH8 352J66 io
THE ARCHBISHOP OF CAiYfERBURY'S ANGLICAN COMMUI¥ION FtiND BALANCE SHEET At 31 Deeemlxr 2021 Note 2021 2020 Fixed assets Office equipment Investments 390 372.661 373,051 1,128 115,657 116,785 Current Debto Due from Friends of the Archbishop of Canterburfs Anglican Communion Fund Other debtors C&sh at bank 47.469 6.254 770.051 823.774 492.711 314.352 807,063 Liabilities Crediiors falling due withtn one year Grants payable Other creditors 554,857 63.420 618377 552,361 19,121 571,482 Net current assets 205,497 235,581 Net assets 57&548 352J66 Funds Unrestricled Incomefunds General Fund Reserve Fund Reslrlcied incomef4nds 53.190 l ¢X).(M)O 425.358 82,550 l (K),l) 169.816 57&548 352J66 +Justin Cantuar: Chair of Trustees 2022
THE ARCHBISHOP OF CANfERBiTRY'S ANGLICAN COMMUNION FUIYD Notes to the g¢¢ouDts 31 December 2021 I Constitulion The Archbishop of Canterburfs Anglican Communion Fund (the Fund) was created by a deed of trust dated 12 November 1997 for the benefit of the churches and provinces of the Anglican Communion and the intentIOnal ministy of the Archbishop of Canterbury. This deed has been amenda by Supplemental Deeds dated 15 October 1999, 14 December 2016 and 20 October 2021. On 3 November 1999 the Fund was rcgistered in England &s Charity No 1078032. 2 Accounting policies The prin¢ipal accounting w)li¢ies adopted, judgem¢Trts and key sources of estimation of uncertainty in the preparation of the accounts are &s follows.. B4sis of finantlal Statements The accounts have been prepared in accordance with the Statement of Recommendd Practice.. Accounting and Reporting by Charities preparing their accounts in accordanc¢ with the Financial Reporting Siandard applicable in the UK and Republic of Ireland (FRS 102) and the Charities SORP 2015 (SORP 2015) as amended by Upjated Bulletin l. The twsl is a publi¢ b¢nefit entity as defined by FRS 102. The accounts have been prered under th¢ historical cost convention and include all transactions a&sets and liabilities for which the trust is responsible in law. The tnte¢S wnsider that thert arc no material unc¢rtaintie5 alx)ut the Truses ability to continue as a going concern. Preparn¢ion of ibe atcounts on a going ¢oDcern basis The trust is a grant making trust and only makes grants out of available income. During the year the trust had a net excess of income over expenditure of £205.998. At 31 December 2021 Unrestricted R¢scTves totalled £153.190. The trusttts are not aware of any ¢ircumstsnces that might affect the 80ing concern status of the trust in the foreseeable future. For this r¢ason, the trustees are of the opinion that the trust can be consider* a going concern for the foreseeable future, this being a period of at I1 twelve months from the dth of approval of the balan¢¢ sheet. Funds Unrestric1edfds are funds sth aside by the trustees that are not subject to any rthictions regarding their use and are available for application the genernl PUTP)ses of the trust. Designuledfvnds are genernl funds set aside for a pArticular purpose by the trustees. They are also unrestricted. Res¢riciedfvds represent donations or glants receivd for a specific object or invi by the trnstees for a specific obj¢cL The funds may onty be expended on the s¢IfiC obje¢t for which they were given. Any balan(x remaining unspent at the end of the y¢aT must be carried forward as a balance on that fund. 12
THE ARCHBISHOP OF CANTERBURY'S ANGLICAN COMMUNION FUND Notes to the ¢¢ounts 31 December 2021 2 Aecountillg policies {Cont'd) Income All income is recognised once the charity has entiilernent to the income. it is probable that the income will be received and amount of income rtteivable can be measured reliably. Donations are rec¢)gnised when the TnLSt has been notified in writing of t•th the amount and settlement date. Legacies are recognised on a case by c4se b&8is following the granting of probate when the adminislrator/¢x¢cutor for the estste has communicated in writing boih the amount and settlement date. Interest on fun(b held on deFXlt and income fiDm investments is tlded when receivable and the amount can E¢ me&sured reliably by the charity" this is notmally uw)n notificaiion of the interest or investment income paid or payable by the bank or investmenl institution. The value of donated services is calculated at the estimatsj st of employing stsff to provide the services concerned. Expenditure Liabilities are recognised as expenditure as soon as there is a legal or co1Ctive obligation committing the charity lo that expenditure. it is probable that settlement will be required and the amount of the obligation be measuTed r¢liably. Expenditure on charitsble activilies comprises direct expense5 incurred on the defined charitable purposes of the charity and includes staff costs attributable io the activity. Grants payable are acwunted for once there is a legal or wnsructive obligation lo make a payment to a third party, it is probable that sett]¢ment will k required 8nd the amount of the obligation can be measured reliably. Govemance Costs Comprise of expendilure on compliance with and advi¢¢ on consiitutional and statutory matters. As all expenditure can be attributed 10 5pecifi¢ categories no apportionment between heading has been ntressary. Irrecover8ble VAT is inc1tsd in th¢ items of cXFt]Nlitu to which it relales. Fixed assets Office equipment is depreciated on a straighi line basis over 4 years. Individual itJns of equipment with a pUhase price of £5(K) or l¢ss are written off when ihe asset is acquired. Inveslmenls are valued at market value at 31 tkcember Foreign eurreneies Transactions in foreign cUrreieS are rfforded at the rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign eurrencies are translated ai the rate of exchange ruling at the balartce sheet date. All differences are laken the profil and loss TgItion The Trust, as a regÈslered charity. is exempt from t&xation on its income aTrJ gains falling within Section 505 of ihe Taxes Act 1988 or Section 256 of the Taxation of Chargeable Gains Act 1992 to the extent thai ihey are applied its charitable objectives. No t&x charge has arisen in the year. 13
THE ARCHBISHOP OF CArirERBURY'S ANGIJCAN COMMUNION FUND Notts to the accoxAts 31 DeCeber 2021 3 Prior year grants canttlled or reduttd Prioryearwuts c4nc¢lled or tedycJ w¢re &8 follow5.. 2021 2021 2020 2020 Red4ciio 2020 Cuba cOd relief 2017 Sudn 5trat¢8t¢ Pknbip 2017 Congo p&stor& wsits 2018 Sudan %trategi¢ Parth 2018 Zambi8 5th001 T¢Wn#n 2018 CAPA B, trnrting 2019 ConBo BLshops' 2019 red5iWted to f£tisvidTthf. x¢ py 14. 13J(YJ 2J56 4.030 10.108 2.845 1.747 33.741 7263 37.057 38.333 4 Crxnt$ Jade Grants approved during the ytsr w¢re as follows 2020 2020 Ihe ComniuNIo GronfsUpprrd1N 2020 4frt¢ Bunmdi D¢StOr01 CAPA Durnnth. CKl U8 South Sudw). MoyAmbi¢we. DRC dK Cfmrd Afri 25.(4X) 10.000 Dio¢of MtlJwi 1,5C Dic£seof Eern /Amkn IE I0¢8¢ £1,5CQI 1.5fy1 i.soo 7.JCiI 4.732 ThfTiw8ani thocu¢of KLn D)Of Nuth Kivu, ButanlK of BLMV Ihvt Kallmxo t*"(meof B GhoD4 WeA Arn. DI.¥¢0rmaW¥ DH)cts¢of KuDWi 12.01)0 10.L 2.5LM> 10.0 9.165 Indi Ow K4 Moumknq Dmwe of Ni•5S8 3.5(K) Totsl ¢arTied fonvard 65J97 116.(KM)
4 Grttts ryxdtlCott¢dl 2020 (jrétKI.Ttspprosylty 2020 AJrleo Icvtsl'dj Brou8ht I¢rd 65397 iffi.(ts) 10.0 F£SS cO19Tr of(%) DK#¢VfjthBr( Dic¢thofthibtl )1 FJIW Port Sthi& 10.( 15. Dtte¢ofKc SIAu•thrf¥HoJpthL M¢kncJ Myww North Inth 10.c¢k) 31. CTrwthofNorth Ind ofJthdpJr 10 9J South Ind IOA 9J39 10.cw MlddlE t•bt &¥tylr CummiDIo An8lw Allirt¢ 47 2019orontsrns19Mtedbe Lr(vre Afri¢ DKce¥c ()rMl Kenya SoutlKrn Afuca South Suda South Sud) Tanzania 1.763 DorJ 3510 Ctyl DKfCy20fYo 6.951 AjDErielC*bbt#n MexKo 10.( 33.741
4 GrAts made (C) Inrorne fund$ 2020 2020 Grnutsappttsvrdin202J Afri¢ Democ[al Rewblicof Cw. R¢bJild voleonK erupii Republ ctfCon8D. rdKf 9.127 13.( Canbbeon. Windw4rd rrIr IlaitI- Earthgts•ke tdief Mlddle K¥t J¢01t & East. Emerythw knOoz8¢r GrttnlsapprOdtn 2020 Afrlc• Central Afri. M&in8v, ZimFbrSdl feedu¥wop South 8udan. of KwK¢ji Middle Jerusal¢m & Middle F•s¢. r¢if Dfter V¢mth¢yF4c• Y¢rnu 9J(X) 3.945 35 Gronis4Wftsvfdin 2Q2Q Afrbr 11.450 20.( GéA¢rnlpYtrJ•d5 CropJi.i approw4llA 2021 Arrtt Central Afric•. Malawi. Dirn20fUFP]r Shry F1 trn1Th CenLTal Aft. Northcrn Mall. for Md>iie(hJtr¢& diDK 9.998 iO.(KX) new ArChbP D¢Morrle RyblK ofCOn.Dth%E0rjg£ Ghllnll. K•x>vBltsxiofoifKe for rKwintuMI PTOVM Indi (ko•n. mad81&r. thrtexofTdiA MOTrmb4.0tT1ce fthrncwtyor&at rnisswdKcseofYth Southern Afrira-sl P1 W17thth Sw Kr4LI South Sthlan. Dioev¢ ofJuE4. A¢(SSknWth ¢rin cLY0 Sth Sudafj. Syntrl nxelin8WIth Try¥Uelfrts South sn. Diocexe of YArnh. Evan8¢lwn CovMI 19 South Slldan. KajKeJthi1CkxIt¢Jlty¢ xt up4Th1 9.891 10.(ts) 10.(KAJ 10.( SJ22 10 Camtd fm¥ard 61.1 69.S98 16
THE ARCHBISHOP OF CAIYTERBURY'S ANGLICAN COMMUNION FUND
Notrs to the c¢ouuts
31 1)ettwber21121
4 Grnnts made {Cont'd
UnrestriLXed Restrict&1 Untestr Resth¢ted
Inwme
Incom¢
fiD)ds
2020
2021
2021
2020
io Provlnra oltheAKgllcN
Genernlpmjects
Gruntsupprov¢di#202J
Afri¢
Broh¢0nv&rd
South Sud8tt. Dwxese of Kali
Sudan. Coffjpknion of ECS (lst H(#
Tatwnia- Revitw of £t11u¢l(m1 of AnBliw Churth of
Tanianil. RotsfingofK(xJdoa Chtdtal Chjrth
TanLHnM. Di¢)c¢se of LW¢ s4)wn for Vul
'[Zania. of R(w p8rish r¢¢ow and T¢silien¢e c0¥1d 19
61.171
69,998
io,(
10.(?
9,978
2.563
10.th)
7,220
3.937
Tanzania- Di¢)ce8e of Vic¢• Nyanz4 Wr tre
Uganda. Nonhwui Ankole. 0]]ng Dit Stsatcw¢ Dekl P
Zimbabwe. DCest 0fMaSn8o. roofinR Brrnllrds MLWQn dini¢
Zimbabwe. Matthfew tlOpUl trnithmg
AmerEtiCarIbbe¥I
Br17.il. Si SYcn's Chwth 0visI of f
THE ARCHBISHOP OF CANTERBURY'S ANGLICAN COMMuf4IoN FUND Notes to tbe aceownts 31 Deeernbtr21)21 4 Crants made {CtsnVd) 2021 2021 2020 2020 Granis opprovedin 2fj211&nd2ll21 Dio¢ese in Eury)pe. An81icart Rewesttjtst at in5tilu An8ltcan Centre irl Ron. CIKe suppon Anwicatt CommLmiOll Offiee at the UnlNalith. 15.INM) 16,080 30, 25.0(KJ 30.IM)O 75.(lYJ 71.080 5 AdminiglrtioD and fiBintt eosts Administration and firsanee costs were &8 folloThs Inciwe 2021 2020 2020 Administration SiotTeoJts oirlce eqiiipnntthrtt¢iati 63 4,136 367 52,912 738 450 lJ72 50.039 $4.493 738 450 1.432 37.113 Bank thar 4.199 6 Offlce equlpmeol 2021 2020 Al l J#nury 2021 Athliiions dwin8 year Ai 35 tkcnkr 2021 1954 2,954 preei4tion 2,9J4 2,954 Ai l Jantw 2021 1.826 738 2.J64 1.088 738 1.826 Al 31 tkcnbEr 2020 Nd brA)k Ve Ai 31 Dber2020 390 7 Inv¢strnents 2W21 Other 115,657 2021 2020 PEF Marketvalue * l Jry 2021 Trarfer frcth An81iwi Cfflsultativ¢ co¢11 Addiliorts Disposal$ RellJi.4ed 8NI w1]1¥¢d inhtsthJNJ( w005$) Mark¢t vaJuE at 31 D¢¢e4ntrr 2019 115.657 240248 240.(kn) -243.428 20,184 372.661 102.386 240.248 240,( -243,428 17.740 133.397 13271 115,657 139264 CBF Church of Fa)alld Investmeni FutMI_ incthn¢ sharE5 CBF Church ofEngland Globaj Equity FWMI. 119J18 119.946 239264 61615 70.782 133J97 181,933 I,728 372.661 54.744 60.913 15.657 24( 85.049 325.049 85,049 8 Cgh at b*Trk 2021 2019 CAf Bank l.td Natwest Bank plc CBF Dep)sit Fund 474.125 52.379 23%.126 214.173 57.800 47.800 770.051 314352 18
31 9 RryoKill•tiM Ai i Jyw202Q 13JlJ tLqthXI 116.¥5 EApemdyN IW44J 185.957 419.495 9JU> ijj.l 14%J,fy131 1139JJ) 11•149ll l314.wl 155.wl 19.5th) 17171 1626.iN)21 Jty) IN.924 133.W A131 8US0 I{ IW91 IX9 169MIO 165212 165212 Xg10 ExppnthttY Il&J6) 1155.1911 1143.th) 11(O.W} IW71 IX).IL?1 {20.fKI)1 I493.1 {4.tp)I Net ryome foirhy¢ IZ•JWTr 3SJ51 21.32 11512511 444 255.512 5.741 95.76 14ib>)> 11732 Alll L¢•mb¥r))21 j)1 I Fld¥ Offi(e¢4wKwI 1SW7 1.12 I iJ.bs? ('wrnm IN743 Lo CTht Iithili 175m7 .W2 4ty1711 Jg)) lQ).f 151920 ILF terypt¢S*diy Officerqui 3711J61 Csshltbtyk 141J67 175316 1•7.ts)9 31YI5 77 95.9 2s.rm 7m031 120.(WI 10112771 53.lw 1(YJ.(> 17J87 24x741 578J18
THE ARCHBISHOP OF CANfERBURY'S ANGLICA]¥ COMMUNION FUND N•)tes to the accowmts 31 Deternb¢r 2021 11 CoMrativeS lor StAt¢JTreDt ofFinanell Athtti all8lysed between Restricd Unrestricted Designatrd ineome fitn¢ts funds 2020 2020 Totsl 2020 2020 Donadons Grant from The Friends of the Archbislh)p of Canterbu5 Angti¢an Communion Fund UK donations Together in Unity- Covid 19 Appeal Prior year 8Tants cancelled or redue¢d Total donoAons iftcome Income from investmenty Interest ree¢ivabl¢ Total income 145.748 620,589 766J37 101,138 101,138 38.333 75.390 760.060 942.865 37,057 182,805 3.188 450 184443 3.188 450 760J160 946J03 ExptRdlture Churilable 4clhrfdeJ Grants to Provinces of the An81ic•n Cthnmunir in iim¢s ola¢ute need- Covid 19, new grants 2019 grants redesignthd to be used fr Covid relief Other Grants for $tr8te8iC lrtiliative5- Straiegi¢ partnerships General projects Grants for Anglican Commutticm presentatIOn and ¢onsultaiions Trf4lzrqnts wrovedin theyear 314,966 33.741 314.966 41,004 20287 7263 9.070 11.450 183.548 31,450 210,828 27.280 71.080 689.615 63th13 626,002 Adfftlnislrolion andfv4ncecosts Admini51rdtion )ss/IGainl on exchan8C 039 56229 (238) Total eApendi¢u 119A14 626,192 745,6116 Net lne0mel(defJt) 67,029 133J68 2110W7 Trnnsf¢r lo Covid 19 funds (I lJ61) 11361 Other reco1$ed gAinsl(loss#) Realised gain on investments Unrealised gainl(lossl cm investhients 13J71 13371 Net incotnt ftIT the yur after trnnsftrs 69039 14&129 214.168 Fund batances brtsUt f8rd at the begaDning of year 13Jll 100,000 24.687 138,198 Fnd earried fonvard •t end of yr 823 100.0011 169016 352J66 20