THE ARCHBISHOP OF CANTERBURY?S ANGLICAN COMMUNION FUND Charity Iyo 1078032 TRUSTEES. REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER2022
THE ARCHBISHOP OF CANTERBURY'S ANGLICAN COMMUNION FUND OFFICERS AIYD ADVISORS TRUSTEES The Most Revd & Rt Hon the Archbishop of Canterbury Mrs Mariorie Baunister Mrs Marion M Dawson Ca Mr R Alec Dawson The Revd Dr Duncan J Dornior Mrs Pamela Wesley Gomez Lord Green of Hutstpierpoint Lady Green of Hursty)iery)oint Mr Michael J Hart Ms Anne Noel Jones Ms Beverley G Julli¢n Mr Christopher L Mann The Revd Barry E Nichols Mts Su7annah J O'Brien Ms Adele Pafrrson The Rt Revd Anthony D Poggo Canon Andrew J RobeTts Mr Julian V F Roberts The Rt Revd Timothy M Thornton Ms Julie L Wareharn (Julie Noon) PRINCIPAL OFFICE Lambeth Palace, London SEI 7JU CHARITY NUMBER 1078032 UK Chair UK USA USA USA UK Vice-chair UK UK USA UK USA UK Tre&sur¢r UK UK South Sudan UK UK UK UK BANKERS CAF Bank Ltd 25 Kings Hill Avenue Kings Hill Wesl Malling Kent ME 19 4JQ National Westh]inster Bank plc 169 Victoria Street London SWI E SNA CBF Church of England Dew)sit Fund One Angel Lane London EC4R 3AB SOLICITORS Mccarthy Deoning Minster House, 42 Mincing Lane London EC3R 7AE iNDEPENDENr EXAMINERS Borucki & Co 42 Radnor Road Ham)w HAI I RZ
THE ARCHBISHOP OF CANfERBURVS ANGLICAN COMMUNION FUND TRUSTEES, REPORT For the yeAr ended 31 December 2022 The Trustees of the Archbishop of Canterbury's Anglican Communion Fund (the Fund) present their report for the year ended 31 December 2022 Objectives and activities objec11v and thepublle benef The principal objectives of the Fund are: to provide assistance for the province5 or dioceses of the Anglican Communion at times of crisis in the Anglican Communion or the comn)unxty' to support strategic initiatives to assist religious and other charitsble work of the Anglican Communion. and to provide official representation of the Anglican Communion at international institutions and consultations including the Anglican Communion Office at the United Nations. Th¢re is no other substantial source of funding for these purposes available to the knchbishop of Canterbury which is accessibl¢ wholly for the general purposes of the whole Communion. The aim of the Fund is not to supplant the generosity of individual parishes, dioceses or provinces. buL rather, to SUprt the work of the Church locally on behalf of the whole Communion. When plannlng the charity's activities, the Tnte¢S hav¢ regard to the Charity Commissioners, guidance on public benefit and in particular to the specific guidance on charities for the advancement of religio Signlficant oclivilies The Fund Keks and welcomes donations to financ¢ its grant making activities. Each year the Fund invi*s applications for grants from the provinces, dioceses and central institutions of the Anglican Communion. Grant applications DY 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 Consultstive Council. Fornial application and accountability procedures have been approved by the tNstees. Grant applications are nornially considered at a meetiDg of the trustres h¢ld towards the end of each calendar year when the amount of income available for distribution th¢ following year is likely to be known. The Management Committee lly approve grants to res)nd appropriately to requests without undue delay. The Fund requires all recipients of grants to sign a grdnt agreement before grants are paid and to submit reports on the utilisation of the grants every six months and on completion of ihe project. The reports received are reviewed by a staff member when tec¢ived and a report on these reviews is considered by the trustees at the next trustee meeting.
Aims aPaCtIvi1ie$f0r iheyear. The main aims of the Fund for the year were: To maximise the income avatlable for grdnts. To allocate the incom¢ available to projects which fulfilled th¢ objectives of the Fund. To monitor the submission of retx)rts by recipients and to ensure that the grants paid have been properly applied. A¢hieveJnent and perfornianee In 2022 the Fund received donations of totslling £580,227. This included £15,154 for the Together in Unity Covid 19 Appeal, £22.503 for the Personal EmeTgenci¢s Fund and £34,120 arising from the cancellation or reduction of prior year grants. The Fund made grants totalling £512.538 of which £59,462 were grants from the Personal Emergencies Fund. Full details of the grants made in 2022 and the previous year are set out in note 4 to the accounts. Reports received from recipients of grants have been reviewed and procedures to ensure that reports are received on a timely basis are in placc. Administration expenses totaIled £63,904 Eeing 10.80/0 of the total income of the Fund. Fundraising costs totalled £25.123 being 4.20/0 of the total income of the Fund. During the year the Fund's investments decreased sn value by £47,952. Flnaneial review Thc accounts of the Fund are set out on pages l O to 20. At 31 December 2022 the unrestricted funds carried forward totalled £9,298. In addition. the following Restricted Income Funds were held: US donations £43J51 Retained partly lo meet grant administration expenses in 2022 and I to fijnd future rants. Bishop Radford TnL8t £31,371 Retained partly to meet grant athninistration expenses in 2022 and artl to fund futur¢ rdnts. Together in Unity £28.564 Available for grants for Covid relief Women on th¢ Front Line £28,968 Available to cover the costs of Women on the Front Line Retreats led by Mrs Caroline Welby. this programme has been delayed because of the Covid 19 andeTnic. PEF Ca itaI fimds £215,015 These fun(Ls are invested. PEF Revenue fuTTrds £59.509 Available for PEF Oldfield Tn]st £5,000 Available for ts to the West Indies
£IOO.000 is relained in the {unrestricted) Reserve Fund which may be drawn upon by the tnjstees in any year in which the income received drops by more than twenty per ¢¢nt when compared with the previous year. The funds held in the Reserve Fund (£IOO,000) and the bulk of the PEF Capital Funds (£208,538) are invested with the Centrdl Board of Finance of the Church of England divided equally b¢tween two equity funds, being the CBF Church of England Investment Fund and the CBF Church of England Global Equity Incom¢ Fund (see note 8 to the accounts) Any other surplus funds are invested in UK interest bearing accounts. The principal funding sources for the Fund during the year were the American Friends of the Archbishop of Canterbury's Anglican Communion Fund Inc. (the American Friends) £260,738 and the Bishop Radford Trust- £130,000. The g[ts made during the year SUPV)rted th¢ key objectives of the Fund as sct out below. 2022 2021 Grants fo Provinces of ihe Anglican Copnmunion in limes of acule need- Covid 19 205,247 Granls to Provinces of ihe Anglican Communion in limes of a¢ule need 59,904 44,127 Granls to supporl stralegic inilialives to afsisf religio and other Lharilable work o the An lican Communion .Siraie ic rlnershi 35.000 General ro 236.172 Grant.$ for Anglican Communion represenlation and cortsuliations 122.000 75.000 Grants h Personal Emer encies Fund 20,142 Tolal rnntsa roved in the ar 512,538 648.744 In 2017 a decision was taken to develop deeper latiOnshIpS with a small number of provinces who wish to embark on well planned strategic developments but who cannot do so without external funding. These are designated as"Strategic 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 Tan72nia. This programme has been delayed because of the Covxd pandemic. A grant of £35,(K)O was made during the year for IAMA, the Anglican Church of Mo&8mbique and Angol4 the newest province of the Anglican Communion. to assist with the establisbment of th¢ provAnLY. The trustees have maintained the support give in previous Yea by the Friends and the Fund to the Anglican Communion Office at the United Nations and have continued to support the Anglican Centre in Rome and the work of the Diocese in Europe in connection with Anglican Representation at European Institutions.
Plans for future periods. On l January 2022, the Fund took over the fimdraising role pr¢viously undertaken by the associated charity The Friends of the Archbishop of Canterbury's Anglican Communion Fund. This is to simplify the activities and opmtions in the UK Jwhich are now wholly undertaken by the Fund. The American Friends of the Archbishop of Canterbury's Anglican Communion Funit Inc will continue to act &$ our fUnd[lg arni in Americ The trSteeS aim to seek growth in th¢ income of the Fund to enhance the ability of the Fund to provide financial support to the Anglican Communion and the international ministry of the Archbishop of Canterbury. In particular, as funds become available. the Fund is aiming to develop further strategic partnerships with individual provinces without significantly diminishing the fiJThds available to provinces in times of crisis. for strategic initiatives and for Anglic8n Communion representation and consultations. structu governance aDd maD•gement Governing documents The Fund was created by a deed of trust dated 12 November1997 for the benefit of the churches and provinces of the Anglican Communion and the international ministy of the Archbishop of Canterbury. This deed has been amended by Supplemental Deeds dat¢d 15 Octob¢T 1999, 14 Deeember 2016 and 20 October 2021. On 3 November19W the Fund was registered in England as a Charity. Recruitnwnl and appointn*nl ofnew trxslees The Archbishop of Canterbury, th¢ Chair of the Inter-Anglican Finance and Administration Committee and the Secretsry General of the Anglican Communion are ex-officio trustees. Five Co-opted trustees are appointed by the Archbishop of Canterbury. Three trustees are nominated by the Anglican Consultalive Council (the ACC) of whom at least one shaIl be a member of the ACC Standing Committee. Two trustees are nominated by the Primates, Standing Committee of whom at least one shall be a member of the Primates, Standing Committee. The Vice-chair of tnjstees, 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 D¢ed dated 20 October 2021 there may be up to eleven elected trustees who shall be lay persons or non- stipendiary ministers with relevant comn]ercial knowledge and expertise. This replaced the right of the Friends to nominate additional trustees. Each tntstee holds office for an initiaI temi of three years and is ¢ligibl¢ for re-appointmenL Induction and training oftr4slees The policies and procedures of the Fund and the responsibilities of trustees are explained to new trustees by the chainnan of the management mMIttee and the treasurer. Orgonisalional slr4cture and decifion makingpnK&%f The Fund is controlled by the Trustees who meet at least once a year when they consider all grant applications. The Tntts have established a Management Committee to deal with the day to day affairs of th¢ Fund. The members of the Management Committee are indicated by in the list of trustres set out lOw. The Personal Emergencies Fund (the PEF) is administered by a Reference Panel, which is responsible for fimdraising for the PEF and for consideration and approval of all PEF grants.
Until 29 Novemlrr 2022 the Reference Panel had been chaired for many years by Canon Nicholas Sagovsky, who retired as the Chair. The Rt Revd Timothy M Thornton w&s appointed as Chair in his place. In addition the following served as memkrs of the Reference Panel duTing the year: Mrs Marjorie Bannister: The Revd Ben Cahill-Ni¢holls. (the Chief Executive of the Clergy SupFK)rt Trust). Dr David Child (until 29 November 2022), Dr John Gilbert (from 29 November 2022), Mr Guy Heald and The R¢vd Bary Nichols (Treasurer). Relatedparties and wider nelworks Until 31 December 2021 the Fund worked closely with the Friends which acted principally as the fimd-raising ami of the Fund and also had the right to nominafr some of the trustees of th¢ Fund. Each year th¢ Friends made one or more grants to support particular projects and granted the balance of their available income to the Fund, subject to a retention to cover the following six months, estimated net operating expenses of the Friends and the Fund. With effect from 31 December 2021 the Friends transferred this fundraising role and all of its funds. except for £2.(K)O being the estimated costs of winding up, to the Fund. In 2022 the Friends received donations totslling £8,793 which Vre forwarded in full to the Fund. The Fund applies its income for the benefit of the churches and provinces of thc Anglican Communion and the international ministy of the Archbishop of Canterbury. The Fund works closely with the American Friends. an Am¢rican non-profjt organisation, which has a fundraising role in the United States of America and which has in prior years made grants each year to the Friends and which has agreed to make grants directly io the Fund in 2022 and subsequent years. c¢]n trustees of the Amcrican Friends are also trustees of the Friends the Fund. Rlsk The major risks to which the Fund is exposed hav¢ been reviewed and procedures have been establish¢d to mitigate those risks. The main risk is considered to be the possibility that grants made are not applied for the approv¢d PUTposes. To mitigate this risk grantees are required to submit detailed reports on the use of the funds rec¢ived within six months, and in many cases only a proportion of the approved grant is paid until an interim report on project progress is received. Trnstees, statement of responsibility in relation to tbe aeeounts Under charity law. the Trustees are reswnsible for preparing the Trustces. Annual Report the financial statements for each financial year which show a true and fair view of the state of affairs of the charity and of the excess of income over expenditure for that period. In preparing these financial statements, generally accepted accounting practice entsils that the trustees: Select suitable accounting pK)licies and apply them consistently: Make judgements and estimth that are reasonable and prudent. State whether the recommendations of the Statement of Recommended Practice have been followed. subject to any material departur¢s disclosed and explained in the financial statements.
Prepare the financial statements on the going concern basis unl¢ss it is inappropriats to presum¢ that the cbarity will continue its activities. The Trustees are required to act in accordance with the trust deed of the charity, within the framework of trust law. They are restK)nsible for keeping proper accounting records, sutTi¢ient to disclose, at any time, with re&8onable accuracy the financial FK)sition of the charity at that time, and to enable the Tn to ellsu thal where any statements of acwunt are prepared by them under section 132(1) of the Charities Act 2011. those slatements of account comply with the requirements of regulations under that provision. They have general responsibility for taking such steps &$ are reasonably open to them to safeguard the assets of the charity and to prevent and detect fraud and other irregularities. Reference and admiDistratioD details Legal and administrative inforniation set out on pagc I forn part of this report. The trusttts of the Fund at the date of this report are listed on page l. Those who served during the period since l January 2022 were: The Most Revd & Rt. Hon Justin P Welby the Archbishop of Canterbury UK Mrs mJOne Bannister Mrs Marion M Dawson Ca Mr R Alec Dawson The Revd Dr Duncan J Donnor Mrs Pamela Weslcy Gomez Mr Michael J Hart Chair- EXffIci0 Ele¢ted Elected Eleci Ctropt¢d Elected Chair Inter Anglican Finance and Administration Committee Ex-offi¢io (appointed 16 February 2023) Nominaied as Vicethchair by the Ar¢hbi$hop of Canterbury Nominated by the Friends Se¢retary General of the Anglican Communi(m - Ex•officio (retired 31 August 2022) Elected USA USA UK USA UK Lord Green of Hurstpierw)int UK Lady Green of Hurtpierpoint UK The Most Revd Josiah Idowu-Fearon Nigeria Ms Anne Noel Jones Ms Beverley G Jullien The Most Revd Paul Kwon8 USA UK Hong Kon& CONed (retired 10 November 2022) China USA UK Ttrasurer- Elected * UK Elected UK co-opt (appointed 9 Novemlw 2022) South Sudan Secretary Genernl of the Anglican Communion - Ex-officio {appointed I September August 2022) Mr Christopher L Mann The Revd Batry E Nichols Mrs Suzannah J O'Brien Ms Adele Paterson The Rt Revd Anthony D Poggo Canon Andrew J Roberts Mr Julian V F Roberts Canon Margaret A Swinson UK UK Elected Chair Inter AnglTcan Finance and Administratio Committee Ex-officio (retired 16 Febrnary 2023) C(wted (appointoj 5 December 2022) Elethd The Rt Revd Timothy M Thornton Ms Julie L Wareham (Julie Noon) UK Members of the Management Commitfre
Ms Safiya Nyirongo and Ms Donna MunyanezA are employ by Lambeth Palace to serve as Chief Ex¢cutive Officer of the Fund and Programme Manager and Executive Assistant respectively. The Fund bears their employment costs. Trustees The Most R¢vd Josiah Idowu-Fearon retired as an Ex-officio trustee on 31 August 2022 when he ¢ed to be Secretary General of the Anglican Communion and on I SeptemEer 2022 his successor in that role, The Rt Revd Anthony D Poggo, became an Ex-officio trustee in his place. Ms Adel¢ Paterson was appointed &8 a Coknopted trustee on 9 Novemb¢r 2022. At the Annual General Meeting held on 9 Nov¢mber 2022, Mrs Marion M Dawson Carr, Mr R Alec Dawson, Ms Anne Noel Jones, Mr Christopher L Mann, The Revd Batry E Nichols, Ms Su7Annth J O'Briw Mr Julian VF Roberts and Ms Julie L Wareham, all of whose period of office as trLeeS nominated by the Friends had come lo an end, were all rel¢cted as trustees. The Most Revd Paul Kwong retired as a Co-opd trustee on 10 November 2022. The Rt Revd Timothy M Thornton, who has also been appointed as Chair of the Personal Emerg¢ncies Fund Reference Panel, was appointed as a COpted trustee on 5 Ikcember 2022. Canon Margaret A Swinson retired as an Ex-officio trustee on 16 Febnwy 2023 when she ceas¢d to be Chair of the Inter Anglican Finance and Administration Committee and her successor in thai role, Mr Micha¢l J HarL becanle an Ex-oificio trustee in her place. The trustees wish to thank the retiring trustees for their valuable contributions as trustees over the years. +Justin Canluar. Chair 17/1 2023
Accountant's report Independent examiner's report to the truslees of The Archbishop of Canterbury's Anglican Communion Fund I report on the accounts of the trt for the year ended 31 December 2022, which are set out on pages 10 to 20. Respective re3ponsibililiu of trnstees and ex4miner The charity's truslees are responsible for the preparation of the accounts. The charity's trustees 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 needed. It is my responsibility to: examine the accounts under Kction 145 of the Charities Ac¢ to follow the procedures laid down in the general Directions given by th¢ Charity Commission (under section 145(5)(b) of the Charities Act), and to state whether particular matters have come to my attention. Basis of iDdependent examiner's report My examination was carried out in OrdanCe with gen¢ral Directions giv¢n by the Charity Commission. An examination includes a review of the accountin8 records kept by the charity and a comparison of the accounts presented with those Te¢ords. It also includes consideration of any unusual items or disclosurcs in the accounls, 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 audit, and consequently no opinion is given as to whether the accounts present a 'true and fair. view and the r¢port is limited to those matters set out in the ststement below. Independent Examiner's statement In connection with my examinatio no lltter came to my attention: (i) which gives me reasonable cause to believe that in any material respect the requirements: to keep accounting records in accordance with Section 130 of th¢ Charities Act. to prepare accounts which aco)rd with the accounting records and comply with the requirem¢nts of the Charities Act have not been met. or (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. JIB rucki FCA Borucki & Co Chartered Accountants and Registered Auditors 42 Radnor Road Harrow HAI IRZ
THE ARCHBISHOPOF CAVTERBL.RI"S ANGUCAN COMMIINION FIIND STATEMEhT OTr FANCIAL ACJIVITI For tht yMrtDd¢d 31 Dte¢Thber 21122 2022 2021 Grnnt from'the FrieThIs0f ArthbTShp ofCont¢rbutys An918 CnMuni tr.u1 Grani frorn Amrncan Trriends ol.the Anhbi%hop ofCJntcrbtsrf5 An1cneMrnurtItsn Fund INC UK donoili5 Tv8eth¢r In Unity-Coid 19 Apwl Pewol F.mu8enL' Fufyl trUn5f¢n frTh An8lican ConstsltstiveCINJncil IknnatioL8 to Pcr301 F.rnerg¢ncies Prior ye&r8tullt5C4ncelled or redu¢¢d 8.793 11293 480.347 2fib.738 2&).738 130.(KKb 236.419 15.154 65,950 361.6 L?J03 26.620 457,515 L•J03 IAv¢wiieiiiiThco lcorne lry1rn 1nv¢sunty¢s Inre%¢ r¢cei¥¥b I'ot•l ineotht 121712 580.227 911.082 3J61 9.405 442 2.413 65 46lmA 591945 9160J5 128N4 F.xptudltM ch0rfrab1efjcrt¢s Grnii be llTrrNied beknv arHntS 19 Provinccs of Lhe ADWir4n in ttmes Of need. oyid 19. n¢w IlrnniJ for JVHte8lL InltI1ts.. SttBie$ic PBn#erships lJ¢n¢ial proJ¢¢ix for AnBlican CnMlI0 And con%ultaiioLs Cjraiiis by Versunul Furnl 30.168 205247 44.127 9.736 59.% 35,1XX) 182.953 35JXX) 236.172 53219 304228 10.04J 75.(KKI 59.46? 399.1 SIL 618.744 Adrnini3irdiion 1.r(GDlnI on vA¢hlln8e J4J16 <591 47.747 4iJii $91 25.123 25,1ts Trfl exppNdlty 154.71• 416J55 261661 17,116 19J2•1 2•5.998 Tranjfer to Covld 19 Other retty1Yed RwliRd Bair118] on Investht¥J Uiireolifcd 84I[rf{lÉ%}on Inven (17J261 (3•.716) 147.521 20,154 (43J92) (135801 157A721 226.182 rund Wances brwht fu7rd 8¢the trynnir¥ ofyear 53.1 ItA).(1)) 425J58 578J48 35U56 hlrueArrled l•rwrd•lelld ofytsr 521 76 57I.Y8 10
THE ARCHBISHOP OF CANTERBURY'S ANGLICAN COMMUNION FUND BALANCE SHEKT At 31 Deetmber 2022 Not¢ 2022 2021 Flxtd 4ssets Office equipment Investments 390 372.661 373.031 324,709 324.709 Current assets Debtors Due from Friends of the Awhbishop of C4nterWs Anglican Communion Fund Other debtors Cash at bank 47.469 6.254 770,051 823.774 43,670 779,605 823275 Ll*bllltleJ Creditors falling due within one ycar Due lo Friends of the Archbishop of Canterimtys Anglican Communion Fund Grants payable Other creditors 23,091 574,231 29,586 02&W8 554.857 63,420 618J77 Net current assets 196,367 205.497 Net 8ssets 521,076 578J48 Funds UnWer1ed1c0mefmtt10 General Fund Reserve Fund Rulricled Incomef4ndf 10 9.298 i(K),000 411.778 53,190 i 00.000 425.358 521,076 578J48 +Justin Cantuar: Chair of Trustees Z7/1 2023
THE ARCHBISHOP OF CANfERBURY'S ANGLICAN COMMUNION FUND Notes to the 4¢couDts 31 Dember 2022 I Constitutio The Archbishop of Canterbuws Anglican Communion Fund (the Fund) was created by deed of trust dated 12 November 1997 for th¢ benefit of the churches and provinces of the Anglican Communion and the international ministy of the Archbishop of Cantert)ury. This deed h&8 been amended by Supplemental Deeds daied 15 October 1999, 14 December 2016 and 20 October 2021. On 3 November 1999 the Fund w&$ register in England as Charity No 1078032. 2 Accovnting policies The principal accounting wlicies adopte¢ judgements and key sources of estimation of uncertainty in the preparation of the accounts are as follows: Basis of financial statements The accounts have been prepared in 0rdance with the Ststement of Recommended Practice: Accounting and Reporting by Charities preparin8 their accounts in accordance with the Financial Reporting Standard appIlble in the UK and Republic of Ireland {FRS 102) and the Charities SORP 2015 (SORP 2015) as amended by Updated Bulletin l. The trust is a public benefit entity &$ defined by FRS 102. The accounts have been prared under the hisiorical cost convention and include all transactions. assets and liabilities for which the trust is responsible in law. The trustees consid¢r that there are no material uncertainties about the Trusvs ability to continue as a going conc¢rn. Preparation ofthe aetounts on A going tODcern bagls The tNst is a grani making trust and only makes grants out of available income. During the year th¢ trust had a nct excess of expenditure over income of £9.520. At 31 December 2022 Unrestricted Reserves totalled £ll)9.298. The trustees are not awar¢ of any ctrcumstanc¢s that might atY¢¢i the 80ing concern sthtu$ of the trust in the foreseeable future. For this reason. the trustees are of the opinion that the trust can be considered a going con¢ern for the foreseeable future, this of at least twelve months from the date of approval of th¢ balance sheet. Fund9 Unreslricledfvids are funds set aside by the trustees that are not Subject to any restrt¢tions regarding their use 8nd are available for application on the gen¢ral purposes of the trusL Designatedfimds are gen¢ral ndS sei aside for a particular purp)se by the trustees. They ar¢ also unr¢stricted. Reslrictedfvpkl% repr¢sent donations or grants re1v for a specific object or invited by the trustees for a specific object. The funds may onty be expended on the specific object for which they were given. Any balance remaining unspent at the end of the year must be carried forward as a balance on that fund. 12
THE ARCHBISHOP OF CANTERBURY'S ANGLICAN COMMUNION FUND Notes to the accounts 31 December 2022 2 A0ting policies (Cont'd) Income All income is recognised once the charity has entitlement to the income. it is probable that the income will be received and the amount of income receivable Can be rneasur reliably. Donations are recognised when the TrSt has been notified in WTiting of the amount and settlement date. Lega¢ies are recognised on a case by case basis following the granting of probate when the administratorlexecutor for th¢ estate has communi¢aied in writing both the amount and settlement date. Interest on funds held on deposit and incom¢ from investments is included when receivable and the amount can be measured reliably by the charity: this 15 normally upon notification of the interest or investmenl income paid or payable by the bank or investment institution. The value of donated services is calculated ai the estimated cost of employing staff to provide the services concerned. Expellditure Liabilili¢s are recognised expenditure &$ s(x)n a5 there is a legal or constructive OblitIOn committing ihe charity to ihat expenditur¢. it is probable that settlement will be required and the amouni of the obligdlion can be measured reliably. Expenditure on charitable activities comprises direct expens¢s incurred on the defined charttsble purposes of the charity and includes staff costs attributable to the activity. Grants payable are accounted for once there is a legal or consruetive obligation to make a payment to a thfftrd party, it is probabl¢ that settlement will required and the amount of the obligation can be mwured reliably. GoYernane¢ costs comprise of expenditure on compliance with and advice on constitutional and statutory matters. As all expenditu can k attributed to specific C81¢gories no apportionment between heading has been necessary. Irrecoverable VAT is included in the items of expenditure to which it rclates. Fixed Office equipmenl is depreciated on a straight line b&8is over 4 years. Individual items of equipment with a purchase price of £5(K) or less are written off when the asset is acquireA. Inveslmenls are valued ai market value at 31 December FOreIg curreBcieJ Transactions in foreign currencies are record ai the rate ruling at the date of the transaction. Monetary assets and liabilities denominaied in foreign currencies are translated al the rnte of exchange ruling at the balance sheet date. All differenctt are tsken to the profit and10&8 account. Taxation The TnLsL as a regislered charity. is exempt from tsxation on its income and InS falling within Section 505 of the Taxes Act 1988 or Section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that they are applied to Its charitable objectives. No lax charge has arisen in the 13
THE ARCHBISHOP OF CANTERBURY'S ANGLICAN COMMUNION FUND Notes to th¢ ¢eouDts 31 Deetmb¢r 2022 3 Prior year grnvts eaneelled or reduced Prior year grants cancelled or reduc•1 were as follow5.. ur¢StrICted Restric Utkrestri¢ttyJ Restricted InrA)Jne fill)ds 2021 funds 2021 2022 2022 Reductions 2017 Ketrya- Care Centre Project 2017 Indonesia- Emergency flwj rcli¢f 2017 & 2018 Women on tk Trront Li 2018 Bahamas Ertwy reli¢f 2018 Spjuses Vine Fund 2019 Zimbsbwe- Horarc 5 Year plkn 2020 Cub8 Covid r¢li¢f 1500 9.081 5.(K)O 1539 lo.0 26,620 4 Grnts made Grams approved during the year were * follows Untt&rictsJ Restricw Unr&4trictyJ R¢strickd InLYJme iTr))me IrKom¢ no)mc nds fund5 fvnds 2022 2021 2021 2022 Grnhtsioprthdn¢eJ In times ol•LYieMeed Grnthsfroth ihe Togetherlw Unlty ApdICoV1l rellefihro4%h Ihe Conwnmhlo Grortis approved in 2021 Afrfc• C¢ntrat Africth DioLf5e ofNortlM) Zwbia Dio¢¢sc of Lus&a ZimtbK DioLW ofMa5Vi 2.000 2.000 4.732 Demc¢ratic Republic of Provirtt ofcryo Dityx¢ of Wiawso Gh8n4 West Afri¢a Indian Oceon K¢nya 25.000 10,(MX) 2.500 lo,) 9.165 3,000 9,650 Dio¢¢se of Mwni&s DiiK¢se of Kap Diwese ofcwr DirK¢sc of Sw8zilaThJ St Au1'S HoitaL TJ8a ythern Afri¢a Torwil Myanmar Notth ItKIL'a Chw¢h ofNoffh Itla Di0 ofAmrits8r Di(¢Se of Al R 10.1 31,000 10.000 9.500 35.(KKI Popua New GuirKe South In(b"a AmerlcgslCaribbt4n Brazil 10.t 10.(K)O Middl¢ East AI¢Katthia T1Y 5,71M> 20J.247 14
ThE AROIBISHOPOF CANTERBURfs ANGLICAN COMMUNION FU14D Note5to thea(Unts 31 Decem1 2022 4 Grants made {CollVd) 2022 2022 2021 2021 CrtsP approTrYdin2022 South Sudall. EmeTgen¢y tcbef fot dispjxed pe in A8(& U8anda. Support fer hun8er affttted Fdrnllfjes In Karamoia req 7imbthve. DioKseof M&0. Miii8atKoofhuDwaud students at 8uher& diLxtsaD 3,076 10.4f4) 9.736 P8knsthn. SuppM forpn¢ fotlowi4 o)Ile Pts. Emer8¢ncy fl¢)dTeW 3.632 ILC( Granistsmrodi2o2I D•watt'c Repthhcofcw. Rebjild K•nyw• fouowing voJ¢ani¢ eruption Derrwoiic R¢pubJic ofc(w. rdKf Tan2atii•. DCtiC of T¥D Rati(m of followm8 lthtsiide 9.127 13.0 AmtA¢4slCarlbbei# Caribb¢8n. Win¢h4wd Islthts wk&Di¢ry4KoTdf Iiiti. E•rthqth re]ief Mlddl¢ E#t Alex8rdiia. Twly etllcr8uw rr8FKW 50,168 9.736 9.127 Strrfte8icPonwerJhlps Gruni.f oppro¥Ydrn 2n22 AfTk 35,((K) 35.IrtK) 15
4 Grxnts mdt Icomvdl kneome dy 2021 2022 2021 GraKiJ qwrovedln1022 Bun11. Rchobiliwion of PwviDeI 9 10.(bJ Lthe¢thtcxtof¢onfiKt 10.108 10. KerTri. ConMnunKffi FLXfSt ]mIV Sothrn Atr4. wUe8¢ 10.f 10. io.th South Sulkn. Workthp re¢[101A1d ewty toery4•8e)n fins Church aTrJ thE Mtion IQATh) lox io,( Tanwth. DiowofKw. Pwa PfvJ#i. 14219 Pakistan. Di0¢eofskn. re frnle Pakis). th(r ofmuhon. Adwwwthvn8hsor 10.( MIthEa ieJ¢r5 in tlxchwth An8jIc All1.cl1Fe# 15.lYXI Grnotswowdin2021 Afrle LadershipthDin6 cell¢r Nortrn MobJk(kn¥h ¢lin Demo(rnt Rcwbl ofcw. HweofBL4W of ¥Archkn51vJp rknn(rtr Rcpubljc ofccw. ThrQfBooa 9,998 10.( 9.891 10.(fj) Africa. Sl Savknrf4 PrAt Elizth¢th Sw KrtdKn 10.(x)o 10.(KM) 5.322 Swth Sudan. of ybtt Evuylorn th¥JmLtyon rEsrw* toco¥] 19 South Suts. KwK¢JJ Cojky llrte 53219 181953 61.ITI 69,998
THE ARCHBISHOP OF CANTERBURY'S ANGLICAN COMhfUNION FUND Notes to the glceounts 31 DeMber 2022 4 Gr4Trts made (Cont'd) In¢oTne Income fijnds fijnds funds 2022 2022 2021 Income lunds 2021 GeneMlproJe(ts Gn)n¢s approvgdin 2021 Africa Brou8ktfoNtsrd Sudan. DI1 orKadu1 Sudan- Compldion of ECS House Tartzania- Review of ¢onstitUlion of of TaD7ani Tanzania. Roofing of Korxloa Cathedral Chw¢h Tanzania- Dioc¢sc of l.wtnJ. >jprft for ¥ulner8bk 8irts Tanzania- Diocese of Rory4 PATish rtSFfjrtrs¢ Tccovery and tcsili¢tKr to Covid 19 Tanzania. Diocese of RUvum inm gcnerntion for Covid 19 e£onomie rEcovcry Tanzania- Dioces¢ of Vi¢toria Nyan74 Wat¢r bxe holc Ugaoda. Northwest Ankol4 Disseminating Diocesan Straw Devel(ynknt Plan Zimbabwe. Di¢Kesc of m18 roofLn8 Ilt&terial for St Berntr&s Missioo ¢lini¢ Zlmbabwe. Mathbcleland. theoloyc41 trainin8 AmericaslC#ribbean Br1- St Si¢ven'8 Chuwl4 provisi(yn orrood and work rwnin8 hornelcss West Indies. Diocese of Jamaica Renovation of Si Mon1.5 Childr&Js Home Middle Eit Di¢Jc¢s¢ of Cyprus and the Gulf- Siudent chaplatt)cy Dio¢e5e of Jernsalem- Training on Saf¢8uardin8 Diocese ofJerwalem - Arab Epi8¢opal Sch1 AnglleTr Commu•lo Capacity building for gents J*1¢¢ wtthit) th¢ Communion Safr Chur¢h Commission visual project An81ican Alli8n¢e- Strenthiin8yOUn8 peopks l1v¢lilKK skills and resilience 53.219 181953 61.177 9,969 10,000 69.998 7.000 10.O(Ml 9.978 2,563 10.O(M> 7.220 3,937 10.(KN) 10.000 7,1)00 20.000 5.OLM) 10,000 i 0.000 10.OCrf) 10.271 10.0( 53.219 182,953 120.198 184,030 Granis approved in 2022 ond2021 Diocese in Europ¢. An8]ican R¢wcxnthtion at Europe4D insti¢irtiL An81i¢an Centre in Rome. Core support Anglican c.ommunion Offic¢ at th¢ Unitsj 10Th5- core 10.043 6.957 30.( 75,(4X> 1S.OlXI 30,000 30.1 10.043 1,957 75.IX>O 17
THE ARCHBISHOP OF CANfERBURY'S ANGLICAN COMMUNION FUND NotQS the accounts 31 Dettmber 2022 5 AdtninistratioTh and fin#nce eosts Administration and finatKe costs wer¢ as follows Inwtlle Income funds 2021 fiJtJd$ 2021 2022 2022 Admini8ttation Staff w5t5 503 14.020 39) 450 853 16216 63 4,136 47.557 54.493 738 450 1,432 57.113 Bwkk char8& 190 47.747 4.199 6 FuDdrAlslng ¢ts Income rd5 2022 Io¢ome fimds 2021 Jn¢omc 2022 2021 StstT¢osts Protnolion ¢%KL 23.991 .132 23.123 7 Ornee equlpment 2022 2021 At l January 2022 AdditiOA8 durin8 yT4T At 31 D&%mber 2022 2.954 2.954 Depreciatlon 2.954 2.9J4 Al l Jonury 2W22 Char8¢ for the >r At 31 tkwot¢r 2022 U64 390 1954 1,826 738 1564 Nei bwk value At 31 tknnbtt 2022 8 IDvestM¢nts 2022 Other 2022 2021 PEF 2021 Other 2021 Tot PEF Marktt value at l Janugry 2022 Tr8nsfer from An81i¢an Cotwhative Council Additions DL8FXbsaJs Realised •JJd inwe5bnttii gal5) Markd vajue at 31 DnEr2022 239,264 133.397 371661 115,6S7 113.657 240,248 240.000 -243,428 20,184 372.061 240.248 240.OC(I .243.428 2,444 239.264 -30,726 208 538 -17.226 47.952 324.709 133.397 CBF Church of F0j[ InVes¢mr1 Furbj CBF Church of En8knd Gjotd Equity Fund 105.888 102.650 208.538 55277 161.165 163,544 324.709 119.318 119.946 239.264 62.615 70.782 133.397 181.933 IW.728 371661 Historical wst 2410.1 85.(H9 325,049 240.IrtK) 85,049 325,049 9 C8sb t Imnk 2022 2021 CAF Bank Ltd NatWe5t Bank plc CBF Deposit Fund 209,510 474.125 57.295 238,126 512,800 779.605 770,051 18
Al I Iw2fr21 169.$1é l6I2J2 J7VI IX (iSJXI IJ43.tM9) {JOJXfj¥) (20.1421 1493.$461 {4.199) (29.]60) rtsJoo) 3sWI 2(932 I(YAI 1154J51) Z43.74J 253J12 lQ7J2) 11732 4131 D&wknr2Q21 JJ.IW ILW iJiJ Js1 17J$7 245.741 95.769 4ZSJ54 I#oM IS,JS4 Z4949 w.wl {lIjATr 1113.430) 12Z7J161 lilt. 11415n A9Jl) (19rn1 05.1231 159.4621 1399 lQll 0>,1231 fLYlhy 14).21 (4J.193) IJJL ?26 IJ&WI ITY.3101 is.iy 11 kné Fix•d 41.6 ) 19K6Y9 ¥gOT 45.4 69Jfj$ 779.105 1$1.43ZJ 19.?571 IW9r4) Sg.JQg J21076 itsJJ67 21521fj 4461 53.7 YIO.051 J1715 47P 9S.169 (215.61D (9.Wll iI¥JO4 1618J771 53.190 If0.( 24*741 95.769 5YSJ48
THE ARCHBISHOP OF cAfERBURy's ANGLICAN COMMUNION FUND Notes to tb¢ ¢eounts 31 Ikeember 2022 12 COMrativ for Stateent of fEDTh¢il AetivitS Dalys¢d between fumd5 Restrictejj fimds 2021 Tola] 2021 No 2021 2021 llleomt Grant from The Friends of the Ar¢hbtsh of Canterbu$ Anglican Ccrnunion Fund UK donations Together in Unity- Covid 19 Ap1 Pen#1 Emergencies Fund trdnsf(¥ted rtorn Angli¢an Consuliative Council Donations io Pcrsonal r.mer8¢ncies Fund Prior year grants cancelled or redue¢d Totoldollolions Inves1meAnCOrn¢ Income fn)m investments Inieresi rcceivobl¢ Total Inttsme 120.911 40,950 359.436 25,OLK) 480.347 65.950 361,660 361,660 123 125 3,00 911.082 161.861 749221 3.286 65 165312 1,622 4.908 65 750J43 916,055 Expeftdtt4re Chariiable adlvknles Gr4nts to Pmin¢cs of the Anlean Cornmunion in time5 of aeul¢ need- Covid 19, new grants (Xher Grants for 3trategic initiatives- StrY4te8ic partnershi Gener41 projects GTanis for AnglIn curnnIOn rePretr( and eon8ultations (iTants by Personal Enxr8en¢iu Fund Trt418rnnts opprovedln theyer 20S.247 9,127 35.(KK) 205247 44.127 120.198 184,030 304,228 75.0(M) 75,(XKJ 20.142 20.142 493J46 648,744 155.198 AdmlMlstr&Èion andfinaneecosts AdministrdÉton I{Gain) on exchan8¢ 57.113 4199 61 J12 Totsl expenditre 212JJ2 497.745 71O.0.57 Net In¢0e/(derI¢) (47,IiKI) 253.1198 2115.998 Other reeognlsed g4Itt(lO) ReaJi5¢d gwn investsnents Unrealised 8aiwJllkNs) invtstsnents 17.74• 20.184 for the year after transfers (29J601 255J42 22&182 Fund balancts br(ght foTward at the Frynnin8 of year 81550 ](mJ.( 169,816 351366 F¥d 1&£¢8 carrnd f•rw*rd at emd of year IIKIIW 425J58 S7&548