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2024-03-31-accounts

The Anglican Central Naval Church Fund (ACNCF)

Annual Report and Financial Statements 1 April 2023 – 31 March 2024

Registered Charity No: 1115877

The Anglican Central Naval Church Fund (ACNCF)

1

Trustees’ Annual Report and Comments for the year ended 31 March 2023

Charity 111587 Registered No: Covering the 1 April 2023 – 31 March 2024 Accounting Year:

Address: Office of the Naval Chaplaincy Service, Tanner Building, Whale Island Portsmouth, Hampshire, PO2 8BY

Governing The charity is governed by a Deed of Trust first declared on 24 March Document: 2006 and subsequently amended by resolutions of the trustees dated 26 November 2009 and 17 April 2012.

Objects: The trustees must apply the income of the charity in furthering the following objects:

  1. To advance religion in accordance with the principles of the Anglican church amongst members of the Naval Service and their dependents in particular but not exclusively by:

  2. i. The provision of grants for the training of Anglican clergy and laity serving in the Naval service for the furtherance of God’s Kingdom in the Naval Service.

  3. ii. The provision of Christian resources for study, worship and those Naval Service personnel and their dependents preparing for baptism, confirmation and those exploring a vocation to ministry in the Church.

  4. iii. The provision of support for, and the work of, Anglican Chaplaincies in the Naval service.

  5. iv. The provision of support for the Naval Service’s representation at the General Synod of the Church of England.

  6. v. The provision, maintenance and support for any Naval Service church, chapel or other place of worship or any religious activity that is devoted to, but not exclusively, Anglican worship in the Royal Navy.

  7. To Promote the charitable work of the Anglican church.

3. Such other charitable purposes as the trustees shall from time to time decide.

Trustees:

The Venerable A Hillier, KHC Royal Navy Chair Rev’d A Callon Royal Navy elected 19 June 2018 Mrs J Crabtree elected 27 February 2019 Captain John Murphie Royal Navy (Ret’d) elected 27 February 2019 Mrs T Pratt elected 27 February 2019 Rev’d R Duckett Royal Navy elected 30 April 2019

2

Trustee selection: Chairman appointed by the Naval Secretary and took up his appointment on 16 July 2021. Other trustees are selected by the Board from nominations received from personal contact and advertisement within the various Anglican communities within the Royal Navy. Bankers: Holt’s Farnborough Branch, Royal Bank of Scotland Lawrie House Victoria Road Farnborough Hampshire GU14 7NR Independent Peter Nicholls MBE MAAT Examiner: 5 Nursery Road Havant Hampshire PO9 3BG Activities and Under the direction of the Chair, the ACNCF continues to monitor its Achievements: achievements by reviewing the grants paid at each Board meeting. Training grants are totally dependent on the number of trainees at any one time and general grants depend very much on the need of the various Anglican communities and their knowledge to be able to approach the ACNCF for assistance. The ACNCF continues to set a realistic budget for the current year based on an accurate gauge of the income from investments. It has also noted the proposed budgets of each of the three Naval Churches whose funds are managed under the umbrella of the ACNCF Fund. St Anns has a standalone bank account and St Nicholas and St Bartholomew churches are treated as restricted funds within the charity.

In moving forward, the ACNCF has highlighted, as its main strategic objective, to develop and encourage a better integrated and encompassing Anglican identity for all Anglicans serving in the Naval Service.

Financial Review: The worth of the ACNCF Consolidated Fund had increased by £3.3K to £733.4K. The main reasons were:

The amounts held in the various bank and deposit accounts were:

3

Contingent Liability: Services Contribution to the Archbishops Council of Appointment The ACNCF was formed to cover the annual contribution to the Archbishop’s Council of Appointment. This contribution has not been requested in recent years but will crystallise during the next financial year. Accordingly, a sum of £53.3K has been set aside to cover the liability to Mar 24 and a suitable contribution will be budgeted in the normal way in future years. Investment Investment Funds are managed by CCLA, a Common Investment Fund Selection Policy: that provides specialist investment management for charities, faith organisations and local authorities. The investment objective of the ACNCF and restricted subsidiary funds is to preserve and enhance the real capital value of the portfolios with due regard to risk, whilst still generating sufficient income to fund current commitments. Therefore, the investment vehicle selected within CCLA is designed to provide low to medium risk with a good balance between capital growth and income. Financial The reserves policy is reviewed annually. The trustees’ policy is to Reserves Policy: maintain a sufficient level of reserves to provide a stable base for the charity’s continuing activities. General reserves are normally only maintained at a level which is sufficient to meet the running costs of the charity and to make grants in accordance with the charity’s objectives on a regular basis. To this end, the charity’s reserves consist entirely of its ACNCF Investment Portfolio, and the income derived is used as necessary to fund its activities. Whilst not overtly fundraising, the ACNCF has a strategic aim to encourage support from other Naval Service Anglican Communities. Grant Policy: The ACNCF has established its grant making policy to achieve its objects for the public benefit. This policy aims to manage the Fund’s affairs with prudence taking into consideration the long term as well as a short-term view of the fund, whilst expending the income in accordance with the purpose laid down in the Fund’s Deed of Trust. The regular donations given to the ACNCF from the other Naval service Anglican Communities, in round terms, provide support for the wider work of the Church of England through a regular contribution to the Archbishop’s Council which, in turn, is acknowledged by Armed Forces representation on General Synod. Otherwise, the Charity relies on its income from investments to provide the wherewithal to provide grants in support of the Charity’s objects. The procedure for the payment of grants is laid down in standing operating procedures.

4

Similarly, the subsidiary funds held by St Ann’s, St Bartholomew’s and St Nicholas’s churches are governed by their letter of delegation and standing operating procedures. Grants for Outreach are decided in advance of each new financial year and approved by the appropriate Chaplaincy Council before submitting the annual budget proposals for ACNCF Board agreement. Ad hoc grants and those to meet emergency relief are approved by each Chaplaincy Council on a case-by-case basis. Each Chaplaincy Council meets on a regular basis where applications to funds and bids for grants are considered. Any bids falling outside the bounds of the constitution are not normally approved unless they are within the spirit of the aim of the objects.

Risk Assessment: The ACNCF Board has considered the major risks to which the charity may be exposed and these are reviewed on a regular basis. Systems and procedures have been established to manage those risks, and it is considered that by reviewing the accounts on a regular basis, the Board is able to ensure that proper compliance measures are being adhered to. Furthermore, internal checks and controls governed by letters of delegation and standing operating procedures ensure that regular and random checks are applied to the charity and its subsidiary funds to safeguard its assets and grant making policy. The trustees’ view is that with its good level of reserves, held in its investments, and the low administrative costs of the charity, that its exposure to risk is very limited.

Public Benefit The fund exists for the advancement of religion and specifically for the Statement: benefit of the Anglican Church in the Royal Navy. However, also recognised is the collective responsibility for the training of Anglican clergy and laity, the provision of Christian resources and grants for study, worship and for those preparing for baptism, confirmation and those exploring a vocation to ministry in the Church. Support is also provided for the work of Anglican Chaplaincies in the Naval service and any maintenance and support for any Naval Service church, chapel or other place of worship or any religious activity that is devoted to, but not exclusively, Anglican worship in the Royal Navy. In addition to such grants to support these activities and other charitable purposes as from time to time may be decided by the trustees, a principal object of the charity is to contribute to the work of the wider Church of England through financial support to the Archbishop’s Council. In all other activities, the fund carries out its objects by the promotion of religion in accordance with the principles of the Anglican Church amongst the serving and retires members of the Naval Service and their dependants as well as promoting the work of the Anglican Church at large. By focussing on these areas, the trustees confirm that they have referred to the Charity Commission’s guidance on public benefit when deciding what activities the charity should undertake.

5

sTATEmE￿r OF TRUSTEES RESPONSIBILTIES The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the charity's financial activities during the year and its financial position at the end of the year. In preparing the financial statements giving a true and fair view. twstees should follow best practi￿ and: Select suitsble accounting policies and apply them consistently. b. Make judgments and estimates that are ￿asOnable and prudent. State whether applicable accounting standards and statements of recommended practice have been followed, subject to any material departure that must be disclosed and explained in the financial statements. d. Prepare the financial statements on an ongoing concem basis unless it is inappropriate to presume that the chanty will continue to operate. The trustees are responsible for keeping accounting records which disclose with reasonable accuracy the financial position of the Charity, and which enable them to ensure that the financial statements comply wrth the Charities Act 2011. (Accounts and Reports) Regulations and the provision of the Goveming Document. The trustees are responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees are responsible for the maintenance and integrity of the charty and financial information in accordance wrth legislation in the United Kingdom governing the preparation and dissemination of financial statements. In so far as the charty's trustees are aware.. There is no relevant independent inspection infonnats'on of which the organisation's independent examiner is unaware, and The charity's trustees have taken all steps that they ought to make themselves aware of any relevant inspection information and to establish that the independent examiner is aware of that information. Signed on behalf of the Trustees The Venerable A Hillier, KHC Royal Navy Chaplain of the Fleet Chairman Dated l July 2024

ANGLICAN CENTRAL NAVAL CHURCH FUND Registered Charity 1115877 CONSOLIDATED STATEMENT OF ASSETS AND LIABILITIES 31-Mar-24 ASSETS l-Mar-23 Fixed Assets Investment Fund CCLA Short Duration Bond (St Ann's) St Ann's Property £ 466,049.79 £ 11,610.32 £ 89,082.00 £ 427,078. 13 £ 11.082.54 £ 89,26T.00 £ 566.742.11 £ 527,427. 67 Current Assets CCLA Deposit Fund (St Ann's) £ 30,287.13 CCLA Deposit Fund (Main Fund) £ 81,642.70 Bank (Main Fund) £ 45,342.23 Bank (St Ann's) £ 35.149.85 Cash (St Ann's) 70.00 Bank (St Nicholas) 4,281.08 Cash (St Nicholas) 496.92 Bank (St Bart's) 9,043.79 Benevolent Loan 5,700.00 Souvenir Stock (St Ann's) 4,622.91 CCLA Dividends and Interest (Main Fund)( £ 5,004.00 Gift Aid Claims (ACNCF & St Ann's) 9,467.89 £ 231,108.50 £ 28,630.$3 £ 70, 720.43 £ 36,559 02 £ 36,362.66 70.00 £ 11,220.24 172.27 £ 6,880.81 £ 5, 700.(Xl £ 4,096.25 £ 10.400.00 £210,812.31 CurTrnt Liabilities Archbishop's Council Apportionment Nuffield Trust Grant (St Ann's) Front Line Chaplains Association Book Grant PNIE Examination £ 53,295.00 7,956.00 2,500.00 500.00 225.00 £ 64,476.00 £ 7,956.00 210.00 £ 8.166.00 Net Current Assets £ 166,632.50 £202,646.31 Net Assets £ 733.374.61 £ 730,073. 98 Approved on behalf of all Twstees Ven A Hillier KHC Royal Navy Chaplain of the Fleet 1 July 2024

ANGLICAN CENTRAL NAVAL CHURCH FUND

CONSOLIDATED RECEIPTS AND PAYMENTS SUMMARY

For the Year 1 April 2023 to 31 March 2024

Receipts
Collections & Donations
Gift Aid
Bursary
Weddings
Caskets
Committals
Memorials Books
Flowers
Souvenirs
Miscellaneous
Investment Income
Bank Interest
Deposit Interest
Payments exceed
Receipts
21,880.00
£
6,468.78
£
830.00
£
1,120.00
£
210.00
£
1,509.65
£
258.49
£
308.50
£
73.41
£
808.64
£
9,506.37
£
754.71
£
3,072.40
£
Previous Year
24,658.65
£
4,399.84
£
-
£
2,590.00
£
630.00
£
778.75
£
235.00
£
502.25
£
74.50
£
594.45
£
12,375.04
£
236.86
£
2,180.51
£
49,255.85
£
-
£
49,255.85
£
Payments
Charitable Grants
Outreach Grants
Bursary
Drake Chaplaincy
Presentations & Flowers
Caskets
Church Flowers
Weddings, Committals
Music,Publications & CDs
Memorial Books DEDs
Socials & Refreshments
Church Events
Vicar & Choir Expenses
Synod
Office Costs
Repairs & Renewals
Insurance + Trophy Hire
Souvenirs & Memorabilia
Miscellaneous
Memberships
NCS Historical
Examination of Accounts
Donations
Receipts exceed
Payments
4,368.00
£
5,500.00
£
830.00
£
2,000.00
£
911.44
£
-
£
813.31
£
1,009.95
£
374.74
£
1,237.50
£
309.42
£
231.23
£
183.00
£
159.27
£
12.00
£
105.87
£
6.00
£
582.00
£
319.58
£
-
£
-
£
210.00
£
11,940.00
£
31,103.31
£
15,697.64
£
46,800.95
£
Previous Year
8,785.75
£
3,000.00
£
-
£
1,500.00
£
369.73
£
949.80
£
1,062.23
£
-
£
148.32
£
1,124.00
£
116.65
£
479.85
£
100.00
£
-
£
-
£
119.92
£
731.67
£
-
£
250.23
£
127.00
£
6,494.43
£
400.00
£
13,630.00
£
46,800.95
£
-
£
46,800.95
£
39,389.58
£
9,866.27
£
49,255.85
£

Reconciliation Statement

Net Assets 31 Mar 23
Main Fund
Receipts exceed Payments
Restricted Fund St A
Receipts exceed Payments
Restricted Fund St B
Receipts exceed Payments
Restricted Fund St N
Payments exceed Receipts
Investments - Unrealised Gain in Market Value
Increase In Debtors
Decrease in Property Value
Decrease in Gift Aid Due
Increase in Stock Figures
Increase in Liabilities
Net Assets 31 Mar 24
730,073.98
£
19,705.48
£
443.69
£
2,162.98
£
(6,614.51)
£
39,499.44
£
5,004.00
£
(185.00)
£
(932.11)
£
526.66
£
(56,310.00)
£
733,374.61
£

8

ANGLICAN CENTRAL NAVAL CHURCH FUND - MAIN FUND (Unrestricted Fund)

RECEIPTS AND PAYMENTS SUMMARY

For the Year 1 April 2023 to 31 March 2024

Receipts
Naval Churches
Gift Aid
Standing Orders
Donations
Bursary
Investment Income
Bank Interest
Deposit Interest
Payments exceed
Receipts
9,000.00
£
304.77
£
480.00
£
-
£
830.00
£
9,246.73
£
754.71
£
1,675.54
£
22,291.75
£
-
£
22,291.75
£
Previous Year
6,000.00
£
4,399.84
£
830.00
£
1,778.00
£
-
£
12,375.04
£
236.86
£
1,380.03
£
26,999.77
£
-
£
26,999.77
£
Payments
Gift Aid St B & St N
Grants
Bursary
Publications & CDs
NCS Historical
Synod
Office
Examination of Accounts
Receipts exceed
Payments
-
£
1,375.00
£
830.00
£
-
£
-
£
159.27
£
12.00
£
210.00
£
2,586.27
£
19,705.48
£
22,291.75
£
Previous Year
2,860.39
£
1,492.75
£
-
£
148.32
£
6,494.43
£
-
£
-
£
400.00
£
11,395.89
£
15,603.88
£
26,999.77
£

Bank & Deposit Accounts at 1 Apr 23 £ 107,279.45 Receipts exceed Payments £ 19,705.48 Bank & Deposit Accounts at 31 Mar 24 £ 126,984.93

ST BARTHOLOMEW'S CHURCH FUND (Restricted Fund)

RECEIPTS AND PAYMENTS SUMMARY

For the Year 1 April 2023 to 31 March 2024

Receipts
Collections
3,866.11
£
Donations
-
£
Gift Aid
1,879.81
£
Weddings
1,000.00
£
Baptisms
-
£
Misc
-
£
6,745.92
£
Payments exceed
Receipts
-
£
6,745.92
£
Bank Accounts at 1 Apr 23
Receipts exceed Payments
Bank Accounts at 31 Mar 24
Previous Year
4,235.69
£
1,040.00
£
1,745.31
£
113.00
£
249.65
£
147.50
£
7,531.15
£
161.58
£
7,692.73
£
6,880.81
£
2,162.98
£
9,043.79
£
Payments
Grants & Donations
ACNCF- Wedding Fees
Music
Presentations & Flowers
Miscellaneous
Receipts exceed
Payments
2,993.00
£
1,000.00
£
272.39
£
227.55
£
90.00
£
4,582.94
£
2,162.98
£
6,745.92
£
Previous Year
7,293.00
£
-
£
-
£
369.73
£
30.00
£
7,692.73
£
-
£
7,692.73
£

8

ST NICHOLAS' CHURCH FUND (Restricted Fund)

RECEIPTS AND PAYMENTS SUMMARY

For the Year 1 April 2023 to 31 March 2024

Receipts
Collections
655.00
£
Gift Aid
281.14
£
Donations
-
£
Book of Remembrance
120.00
£
1,056.14
£
Payments exceed
Receipts
6,614.51
£
7,670.65
£
Bank & Cash Accounts at 1 Apr 23
Payments exceed Receipts
Bank & Cash Accounts at 31 Mar 24
Previous Year
660.18
£
1,115.08
£
90.00
£
-
£
1,865.26
£
2,634.74
£
4,500.00
£
11,392.51
£
(6,614.51)
£
4,778.00
£
Payments
ACNCF
Drake Chaplaincy
Outreach
Music
Flowers and Sundries
Receipts exceed
Payments
2,000.00
£
2,000.00
£
3,500.00
£
102.35
£
68.30
£
7,670.65
£
-
£
7,670.65
£
Previous Year
-
£
1,500.00
£
3,000.00
£
-
£
-
£
4,500.00
£
-
£
4,500.00
£

8

ST ANN'S CHURCH FUND

(Under Anglican Central Naval Church Fund - Registered Charity Number: 1115877)

STATEMENT OF ASSETS AND LIABILITIES

31-Mar-24

Fixed Assets
Property
89,082.00
£
CCLA Short Duration Bond
11,610.32
£
Total Fixed Assets
Current Assets
Cash
70.00
£
Current Account
35,149.85
£
CCLA Charity Deposit Fund
30,287.13
£
Souvenir Stock & Caskets
4,622.91
£
Gift Aid Claim (Estimate)
8,000.00
£
Total Current Assets
78,129.89
£
Less Liabilities
Nuffield Trust Grant
7,956.00
£
ACNCF Grant
620.00
£
8,576.00
£
Net Current Assets
Net Assets
Represented by Designated Funds:
Non Bank Net Assets
104,739.23
£
General Fund
45,951.44
£
Distribution Fund
17,078.54
£
Project Fund
2,477.00
£
170,246.21
£
89,267.00
£
11,082.54
£
100,692.32
£
100,349.54
£
70.00
£
36,362.66
£
28,630.63
£
4,096.25
£
8,000.00
£
77,159.54
£
7,956.00
£
620.00
£
8,576.00
£
69,553.89
£
68,583.54
£
170,246.21
£
168,933.08
£
31-Mar-23
89,267.00
£
11,082.54
£
100,692.32
£
100,349.54
£
70.00
£
36,362.66
£
28,630.63
£
4,096.25
£
8,000.00
£
77,159.54
£
7,956.00
£
620.00
£
8,576.00
£
69,553.89
£
68,583.54
£
170,246.21
£
168,933.08
£
31-Mar-23
168,933.08
£

9

ST ANN'S CHURCH FUND

RECEIPTS & PAYMENTS SUMMARY

For the Year 1 April 2023 to 31 March 2024

Receipts
Donations
13,878.89
£
Baptism, Committals
1,509.65
£
Gift Aid
4,003.06
£
Wedding Donations
-
£
Caskets
210.00
£
Deposit Interest
1,396.86
£
Investment Dividends
259.64
£
Memorial/Ded Books
258.49
£
Souvenirs
73.41
£
Flowers
308.50
£
Misc
808.64
£
22,707.14
£
Payments exceed Receipts
-
£
22,707.14
£
Cash, Bank & CCLA at 1 April 23
Receipts exceed Payments
Gain on Revaluation of Investment
Total
Previous Year
Payments
15,775.13
£
Church Events
778.75
£
Memorial/Ded Books
-
£
Caskets
2,477.00
£
Weddings
630.00
£
Flowers
800.48
£
Vicars & Choir Expenses
-
£
Coffee
235.00
£
Trophy Hire/Insurance
74.50
£
Repairs & Renewals
502.25
£
Souvenirs & Memorabilia
446.95
£
Membership
21,720.06
£
Presentations
Sundries
ACNCF Transfer
Donations
2,941.29
£
Receipts exceed Payments
24,661.35
£
76,145.83
£
Cash 31 Mar 24
443.69
£
Bank 31 Mar 24
527.78
£
CCLA Deposit 31 Mar 24
CCLA Fixed Int 31 Mar 24
77,117.30
£
Previous Year
231.23
£
479.85
£
1,237.50
£
1,124.00
£
-
£
949.80
£
9.95
£
-
£
813.31
£
1,062.23
£
183.00
£
100.00
£
241.12
£
116.65
£
6.00
£
731.67
£
105.87
£
119.92
£
582.00
£
-
£
-
£
127.00
£
683.89
£
95.94
£
229.58
£
124.29
£
6,000.00
£
6,000.00
£
11,940.00
£
13,630.00
£
22,263.45
£
24,661.35
£
443.69
£
-
£
22,707.14
£
24,661.35
£
70.00
£
35,149.85
£
30,287.13
£
11,610.32
£
77,117.30
£

10

St ANN's CHURCH - DONATIONS TO CHARITY April 2023 to March 2024

ACNCF (£500 per month)
Army Benevolent Fund
Ascension Trust (Portsmouth Street Pastors)
Childrens Liver Foundation
Christians against Poverty
Combat Stress
Diocese of Cyprus Ras Morbat
Embrace
Fareport Talking News
Great Ormond St Childrens Hospital
Hampshire & IOW Air Ambulance
Haven - HMS Nelson
Hope In Action - Where We Work
International Fellowship (£20 per month)
Motor Neurone Disease Associaiton
Naomi House
Naval & Military Bible Society
Parkinsons UK
Portsmouth Association for the Blind
Portsmouth Churches Housing Association
Portsmouth Family Welfare Society
Portsmouth Hospitals Charity
Prostate Cancer
Roberts Centre
Ronald Macdonald Houses
Rowan's Hospice
RM Benevolent Fund
RN Benevolent Trust
RNRM Children's Fund
RN&RM Charity (£100 a month plus single donations)
RN&RM Widows Association
Royal Naval Officers Charity
Royal Sailors Rest
QARNNS Trust
St Marys PCC
Salvation Army
Shipwrecked Mariners Society
Smile UK
SSAFA
Training Grants
Veterans Outreach Support
WRNS BT
Donations
6,000.00
£
250.00
£
250.00
£
250.00
£
250.00
£
250.00
£
250.00
£
250.00
£
250.00
£
250.00
£
250.00
£
250.00
£
250.00
£
240.00
£
250.00
£
250.00
£
250.00
£
250.00
£
250.00
£
250.00
£
250.00
£
250.00
£
250.00
£
250.00
£
250.00
£
250.00
£
250.00
£
250.00
£
250.00
£
1,450.00
£
250.00
£
250.00
£
250.00
£
250.00
£
250.00
£
250.00
£
250.00
£
250.00
£
250.00
£
750.00
£
250.00
£
250.00
£
17,940.00
£

11