REGISTERED CHARITY NUMBER: 1124343 Report ofthe Trustees and Unaudited Financial Statements for the Year Ended 30th June 2024 for The Jerusalem Bishopric Fund A charity administered by the Jerusalem and the East Mission Trust Limited
The Jerusalem Bishopric Fund A charity administered by the Jerusalem and the East Mission Trust Limited Contents of the Financial Statements for the Year Ended 30th June 2024 Page Report ofthe Trustees Independent Examiner's Report Statement of Financial Activities Balance Sheet Notes to the Financial Statements 10 to 17
The Jerusalem Bishopric Fund A charity administered by the Jerusalem and the East Mission Trust Limited Report of the Trustees for the Year Ended 30th June 2024 The trustees present their report with the financial statements of the Charity for the year ended 30th June 2024. The Iruslees have adopted the provisions of Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffective 1st january 20191. OBJECTIVES AND ACTIVITIES Objectives and activities for the public beneflt The Charity'5 objectives fall within the over311 purpose of the advancement of the Christian religion through the episcopal/anglican churches in the Middle East and their associated reliEiOUS and charitable work. The original specific object of the Charity W35 to provide an episcopal endowrnent of the Jerusalem Bishopric. The area of benefit was subsequently extended to include the rest of the Province ol Jerusalem and the Middle East. Following the creation of the Province of Alexandria, the area of benefit now also covers this province. On 1st july 2015 the Charity acquired the endowment funds which were previously administered by The Jerusalem and the Middle East Church Association, being the Reverend Stephen Campbell Charity and The Mission Trust Limited's Charitable Gift. The value of these fund5 as at 1st July 2015 )Nas £45,234 and £359,193 respectivelv represented by investments in the CBF Church of England Funds. The objective of the Reverend Stephen Campbell Charity 15 to form an education21 trust for Israel and Jordan and grants are made to educational establishments in consultation with the Archbishop in jerusalem. The income of the Mission Trust Limited's Charitable Gift IS to be used for religious and charitable purposes throughout the Province of jerusalem and the Middlo East and the Province ol Alexandria During the year ended 30th lune 2023, the charity acquired the assets of the Egypt Bishopric Fund a charity previously dministered by the Oversea5 Bishoprics, Fund (charity number 2453341. The income of the fund is to be used to provide income for the benefit of the bishop or bishop5 exercising episcopal jurisdiction within the Province of Alexandria or any part thereof. Public Benefit The above objects are currently achieved by the makinE of grants towards the episcopal stipends and expense5 of the Anglican Archbishop in Jerusalem and the Bishop of Cyprus and the Gulf and the bishops of the Province of Alexandria to assist them in carrying out their duties and grants to other educational and religiou5 establishments within the Province of jerusalem and the Middle East and the Province of Alexandria, The trustees confirm that they have referred to the guidance contained in the Charity Commi55ion'5 general guidance on public benefit when reviewing the aims and objective of the Charity in planning future activities and in settinE the grant making policy for the year. In particular the trustees consider how planned activities will contribute to the aims and objectives that have been set. Objectives for the year The Charity's aim was to maintain or increase the level of regular grant. This was achieved in the case of the grant paid to the Diocese of Jerusalem, from the Jerusalem Bishopric Fund which was maintained at £13,500. For the reasons set out later in this report, no other grants were paid in the year. Page I
The Jerusalem Bishopric Fund A charity administered by the Jerusalem and the East Mission Trust Limited Report of the Trustees for the Year Ended 30th June 2024 ACHIEVEMENT AND PERFORMANCE Artivities The trustees have changed their policy regarding the timing of the calculation and payment of annual grants compared to previous years. In the past, annual grants were calculated based on the investment income receivable up to 31st March in 3 financial year together with an estimate of the income expected to 30th lune. For the year ended 30th June 2024 and subsequent ye3rs, grants will be based on the actu31 investment income receivable to 30th lune and will be agreed by the trustees at a trustees, meeting following the end of Ihe accounting year. As these grants will not have been approved by the trustees at the end of the financial year they do not appear as a creditor in the accounts. The Charity maintained the level of quarterly grant paid to the Diocese of Jerusalem in respect of episcopal stipends at £13,500. No grant was paid to the Diocese of Cyprus and the Gulf during the year. Owing to the change in policy set out above, the Charity made no other gr3nls during the year12023 £1,500 to the Diocese of Jerusalem from the Reverend Stephen Cambell Charity, £3,933 to the Dioceses of jerusalem and Cyprus and the Gulf within the Province of Jerusalem and the Middle East and the Province of Alexandria from the endowment fund of The Mission Trust Limited's Ch3ritable Gift). In 2023, an additional grant of £2,SOO was made lo each of the dioceses of Jerusalem and Cyprus and the Gulf and the Province of Alexandria from the jerusalem Bishopric Fund. In 2023, two grant5 of £5,000 each were paid to the Diocese of Egypt from the Egypt Bishopric Fund to support the bishop of the diocese from investment income received in the year and an additional grant of £2,300 was made from accumulated income from previous years. FINANCIAL REVIEW Investment Investment Powers The trustees, power is governed by the Trustee Act 2000. This confers a general power of investment and requires the trustees to invest in a diversified range of suitable instruments. Investment Objectives The investment objective5 are al to generate a sustainable income stream year on year which maintains its current purchasing power. bl to at le2St maintain the capital value of the investments over the long-terrn. Risk Tolerance The trustees place a high priority on maintaining the real value both of the investments and the income returns over the long-term while recognizing that at times achieving this will mean accepting short or medium term declines in capital value andlor income available for distribution. Ethical and Socially Responsible Investment The trustees have reviewed their investment policy with regard to the Charity Commission's guidance on ethic31 and responsible investment. The trustees recognize and approve the CBF funds manager's policy of investing only ln investments that conforrn to the Church of England'5 'Ethical Investment Advisory Group, IEIAGI guideline5, Wlth particular sensitivity relating to investment5 in the occupied Palestinian territories. Performance Investment Income, including deposit account interest, h25 increased by 3.0/0 compared to last year. The value of the invegtments has increased by 8.7°A over the year. Page 2
The Jerusalem Bishopric Fund A charity administered by the Jerusalem and the East Mission Trust Limited Report of the Trustees for the Year Ended 30th June 2024 FINANCIAL REVIEW Financial review The transactions for the period and the Charity's financial position at the end of the year 3re shown in the attached financial statements. Grants of £13,500 were made in the year12023 - £46,600) In the opinion of the trustees, the finances of the Charity are adequate to enable it, with prudent management, to continue to carry out its charitable objectives. Reserves The trustees take the view that the aim should be to fulfil the Charity's objects over a lonE-term future. The experience of the trustees is th3t the 3rchbishops 2nd synods of the Episcopal Church of jerusalem and the Middle East and the Epi5copal/Anglican Province of Alexandria expect both to receive a regular annual grant at a sustained level and from time to time to C311 upon the Charity for additional and urgent funding, and it is the policy of the trustees, within the terms of the Charity, to maintain reserves at an adequate level to Support these two needs. While keeping the level of resources under constant review, the trustees consider the current level to be prudent for this purpose. The trustees consider, on the basis of current information available to them, that these funds are adequate to meet their known future commitments. FUTURE PLANS The Charity aims to maintain the level of support for the episcopal stipend Ic)r the Archbishop in jerusalem at £13,500 n 2024/25. It is proposed that the level of support for 2024125 for the Bishop of Cyprus and the Gulf remain at £Ni1. Following the Iransition of the Diocese of Egypt with North Africa and the Horn of Africa into the autonomous Province of Alexandria which was formally inaugurated on 21st May 2020, the charity expects to continue to support the new Province as it has the Diocese in the past. Page 3
The Jerusalem Bishopric Fund A charity administered by the Jerusalem and the East Mission Trust Limited Report of the Trustees for the Year Ended 30th June 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The Charity was established under a trust deed dated 15th November 1841 and was administered as a subsidiary charity of The Central Board of Finance of the Church of England (Charity Number 2487111. By a scheme of the Charity Commission dated 24th July 2006 The Jerusalem and the East Mission Trust Limited wa5 appointed as trustee. The assets of the Charity were transferred into the custodianship of The Jerusalem and the East Mission Trust Limited on 22ncl May 2007. A new charity was registered on 5th JLJne 2008 Icharily Number 11243431 for the purpose of administering the assets of the Charity. On 1st July 2015 the Charity acquired the endowment funds which were previously administered by The lerugalem and the Middle East Church Association IIMECAI, being the Reverend Stephen Campbell Charity and The Mi55ion Trust Limited's Charitable Gift. The Reverend Stephen Campbell Charity was amalgamated with the Moore-steele Fund in 1999 as a fund of IM ECA. The Campbell Fund, however, was required to be separately identified by the Charity Commissioners as a permanent endowment. The Mission Trust Limited's Charitable Gift was established by a scheme 011987 by the Charity Commission and the capital is to be retained as a permanent endowment. The income is to Used for religious and charitable purposes as the trustees think fit. On the transfer of the assets of JMECA to an incorporated charity of the same name, the assets of the endowment funds were transferred to the jerusalem Bishopric Fund. On 20th july 2021, the Charity acquired the assets of the Egypt Bishopric Fund, which were previously administered by the Overseas Bishoprics Fund. The income of this fund is to be used to provide income for the benefit of the bishop or bishops exercising episcopal jurisdiction over the Diocese of Egypt or any part thereof. Governing body and related charlties The Charity's custodian trustee in perpetuity is The Jerusalem and the East Mission Trust Limited. The company's board of directors, who serve in an Iionorary capacity, as at 30th June 2024 comprised.. Rt Rev A J B311 (Chairl l M Clark D A Wright Dr C Am05 Rev Y Said Rev C M Dawkins Mrs C A Hawkey The directors of The Jerusalem and the East Mission Trust Limited are appointed by invitation. In accordance with company13w, directors are confirmed in office at the annual general meeting following their appointment. The directors met five times during the year to consider the overall policy of the Charity and the level ol grants to be paid. These meetings were held in conjunction with other charities adrninislered by The Jerusalem and the East Mission Trust Limited, being The jerusalem and the Middle East Church A550ciation, St Mary's Waqf. Trust Property Held in connection with the Epi5cop21 Church in Egypt and the Arthur Jones Travel Bursary Tryst. Page 4
The Jerusalem Bishopric Fund A charity administered by the Jerusalem and the East Mission Trust Limited Report of the Trustees for the Year Ended 30th June 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Recruitment, appointment. induction and training of new trustees The custodian trustee of the Charity is The Jerusalem and the E35t Mission Trust Limited. The policy for recruitment and training of directors of the company is as follows.. New directors are recommended to fill vacancies by existing directors, Bishops of the Provinces or others closely associated with the Charity's activities. Prospective directors are interviewed by the chair and other directors as appropriate and details Including full Cvs are submitted to the board for approval. Prospective directors are given an introduction to the work of the Charity and information on the role of trustees and charity law. Charity Commission publications are regularly distributed to the directors. REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 1124343 Princlpal addre55 l Hart House The Hart Farnham Surrev GU9 7HI Trustees Rt RevAJ Ball (Chairl J M Clark Rev Canon Dr W H Taylor Iresigned 2.12.231 DA Wright l G Pringle (resigned 29.11,231 Dr C Amos Rev Canon Dr M l Rhode5 (resigned 29.11.231 Revysaid Rev C M Dawkins C A Hawkey Independent Examiner D A Sanders BA IHonsl FCA Sheen Stickland Chartered Accountant5 2 Oriel Court Omega Park Alton Hampshire GU34 2YT Legal Advisers Winckworth Sherwood LLP Arbor 255 Blackfriars Road London SEI 9AX Page 5
The Jerusalem Bishopric Fund A charity administered by the Jerusalem and the East Mission Trust Limited Report of the Trustees for the Year Ended 30th June 2024 REFERENCE AND ADMINISTRATIVE DETAILS Investment Managers CCLA Investment Management Limited One Angel Lane London EC4R 3A8 Approved by order of the board of trustees on .2Lj . and signed on its behalf bv.. Rt Rev A J Ball Trustee Page 6
Independent Examiner's Report to the Trustee5 of The Jerusalem Bishopric Fund Independent examiner's report to the trustees of The Jerusalem Bishopric Fund I report to the charity trustees on my examination of the accounts of The Jerusalem Bishopric Fund (the Trust) for the vear ended 30th June 2024. Responsibilities and basis of report As the charity trustee5 of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 20111'the Act'l. I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 14SISllbl of the Act. Independent eyaminer'5 Statement I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giviiig me cause to believe that in any material respect.. accounting records were not kept in respect of the Trust as required by Section 130 of the Act,. or the accounts do not accord with those records,. or the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities IAccounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention shoulci be drawn in this report in order to enable a proper understanding of the accounts to be reached. D A Sanders BA (Honsl FCA Sheen Stickland Chartered Accountants 2 Oriel Caurt Omega Park Alton Hampshire GU34 2YT Date.. Page 7
The Jerusalem Bishopric Fund A charity administered by the Jerusalem and the East Mission Trust Limited Statement of Financial Activities forthe Year Ended 30th June 2024 2024 Total funds 2023 Total funds Restricted funds Endowment funds Notes INCOME AND ENDOWMENTS FROM Investment incorne 60,813 60,813 59,022 EXPENDITURE ON Charitable activities Support for the work of the Episcopal Church in Jerusalem and the Middle East Support for the work of the Episcopal/Anglican Province of Alexandria 24,304 24,304 38,665 7,263 7,263 24,598 Total 31,567 31,567 63,263 Net gains on investments 174,808 174,808 61,555 NET INCOME 29,246 174,808 204,054 57,314 RECONCILIATION OF FUNDS Total fund5 brought forward 19,962 2,013,144 2,033,106 1,975,792 TOTAL FUNDS CARRIED FORWARD 49,208 2,187,952 2,237,160 2,033,106 The notes form parl of these financial statements Page 8
The Jerusalem Bishopric Fund A charity administered by the Jerusalem and the East Mission Trust Limited Balance Sheet 30th June 2024 2024 Total funds 2023 Total funds Restricted funds Endowment funds Notes FIXED ASSETS Investments 2,187,952 2,187,952 2,013,144 CURRENT ASSETS Debtors Cash at bank 15.329 57,162 15,329 57,162 33,353 23,084 72,491 72,491 56,437 CREDITORS Amounts fallin8 due within one year 123,2831 123.2831 136,4751 NETCURRENT ASSETS 49,208 49,208 19.962 TOTAL ASSETS LESS CURRENT LIABILITIES 49,208 2,187,952 2,237,160 2,033,106 NET ASSETS 49,208 2,187,952 2,237,160 2,033,106 FUNDS Restricted funds Endowment funds io 49,208 2,187,952 19,962 2,013,144 TOTAL FUNDS 2,237,160 2,033,106 The financial statements were approved by the Board of Trustees and authorised for issue i.o-fri..Jo.&4knd were signed on its behalf by.. on .II,IL , I:0 Q Rt Rev A 18311 Trugtee Rev C M Dawkins - Trustee The notes form part of these financial staternent5 Page 9
The Jerusalem Bishopric Fund A charity administered by the Jerusalem and the East Mission Trust Limited Notes to the Financial Statements for the Year Ended 30th June 2024 ACCOUNTING POLICIES Basis of preparlng the financial statements The financial statements of the Charity, which 15 a public benefit entity under FRS 102, have been prepared in accordance with 'AccountinE and ReportinE by Charities.. Statement of Recommended Practice applicable to charitie5 preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1st January 20191 Icharities SORP IFRS 10211,, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS1021' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention with the exception of investment5 which are included at market value, as modified by the revaluation of certain assets. The financial statements have been prepared on the going concern basis 35 in the opinion of the trugtees the effects of the current international or financial situations will not significantly impact on either the value of the charity's investments or its investment income in the long term. Income All income is recognised in the Statement of Financial Activities once the Charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. Investment income is recogni5ed on a receivable basis and income accrued but not received at the year end is included in prepayments and accrued income. Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the Charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where cost5 cannot be directly attributed to particular headings they have been allocated lo activities on a basis consistent with the use of resources. Grants Payable Grants payable are taken to the Statement of Financial Activities in the year they are approved. Grants from restricted income and funds are paid in accordance with the donors, wishes. Those paid from designated 2nd unrestricted income and funds are distributed at the discretion of the trustees, sometimes in consultation with the archbishops and synods of the provinces. Management charge The management charge is a gupport cost allocated to the activities of the Charity on 3 basis consistent with the use of resources, calculated by reference to the value of the funds as at 30th June of each year and 15 Used to run the offices of The jerusalem and the East Mission Trust Limited. The management charge is allocated entirely to charitable expenditure. Taxation As a registered ch3rity no liability to direct taxation arises on the charitable activities. Fund accounting Restricted funds Income received for restricted purposes is retained in a separate fund to the extent that such amounts remain unspent at the year end. Page 10 continued...
The Jerusalem Bishopric Fund A charity administered by the Jerusalem and the East Mission Trust Limited Notes to the Financial Statements- continued for the Year Ended 30th June 2024 ACCOUNTING POLICIES- continued Fund accounting Endowment fund The permanent endowments are held expressly for the investments to produce income for the making cif grants, Investments Investments are stated at mid-market value at the balance sheet dale. All movements in value arising from investment changes are shown in the Statement of Financial Activities. Unrealised gain5 andlor losses are the difference in market value ol investments held at the beginning of the year, or their cost if purchased in the year, and at the end of the year. INVESTMENT INCOME 2024 2023 Income from listed investments Deposit account interest 58,860 1,953 58,220 802 60,813 59,022 All investment income derives from listed investments in The CBF Church of England Funds. CHARITABLE AcfiviTIES COSTS Grant f unding of activities (see note Support costs Totals Support for the work of the Episcopal Church in jerusalem and the Middle East Support for the work of the Episcopal/Anglican Province of Alexandria 13,500 10,804 24,304 7,263 7,263 13,500 18,067 31,567 One grant was made to one organisation. Support costs comprise the management service charge which has been taken entirely to charitable expenditure. Page 11 continued...
The Jerusalem Bishopric Fund A charity administered by the Jerusalem and the East Mission Trust limited Notes to the Financial Statements- continued for the Year Ended 30th June 2024 GRANTS PAYABLE 2024 2023 Support for the work of the Epi9copal Church in jerusalem and the Middle East Support for the work of the EpiscopallAnglican Province of Alexandria 13,500 27,867 18,733 13,500 46,600 The total grants paid to institutions during the year was as follows.. 2024 2023 Diocese of jerusalem Diocese of Cyprus and the Gulf Province of Alexandria 13,500 21,434 6,433 18,733 13,500 46,600 TRUSTEE5' REMUNERATION AND BENEFITS The Jerusalem and the East Mission Trust Limited Ithe company) when acting as trustee received remuneration in the form of a service charge of £18,067 12023 £16,664>. £16,533 was owed by the Charity to The Jerusalem and the East Mission Trust Limited in respect of service charge as al 30th lune 202412023 overpaid £1,533) and is included as a creditor on the balance sheet. £Nil12023 £17,4251 was owed to the charity by the Jerusalem and the East Mission Trust Limited in respect of unpaid grants as at 30th lune 2024. £6,750 was owed to the Jerusalem and the East Mission Trust Limited as at 30th June 2024 in respect of Erants paid on behalf of the charity12023- £2,300). The directors of the company did not receive any remuneration or expenses directly from the Charity. Trustees, expenses There were no trustees, expenses paid for the year ended 30th lune 2024 nor for the year ended 30th June 2023. Page 12 continued...
The Jerusalem Bishopric Fund A charity administered by the Jerusalem and the East Mission Trust Limited Notes to the Financial Statements- continued for the Year Ended 30th June 2024 COMPARATIVES FOR THE STATEMENTOF FINANCIAL ACTIVITIES Restricted funds Endowment funds Total funds INCOME AND ENDOWMENTS FROM Investment income 59,022 59,022 EXPENDITURE ON Charitable activities SLipport for the work of the Epi5COP31 Church in Jerusalem and the Middle East Support for the work of the Episcopal/Anglican Province of Alexandria 38,665 38,665 24,598 24,598 Total 63,263 63,263 Net gains on investments 61,555 61,555 NET INCOMEIIEXPENDITUREI 14,2411 61,555 57,314 RECONCILIATION OF FUNDS Total funds brought forward 24,203 1,951,589 1,975,792 TOTAL FUNDS CARRIED FORWARD 19,962 2,013,144 2,033,106 FIXED ASSET INVESTMENTS Listed investments MARKET VALUE At 1st july 2023 Revaluations 2,013,144 174,808 At 30th June 2024 2, 187,952 NET BOOKVALUE At 30th lune 2024 2,187,952 At 30th June 2023 2,013,144 There were no investment assets outside the UK. Page 13 continued...
The Jerusalem 8ishopric Fund A charity administered by the Jerusalem and the East Mission Trust Limited Notes to the Financial Statements- continued for the Year Ended 30th June 2024 FIXED ASSET INVESTMENTS- continued Cost or valuation at 30th June 2024 is represented bv.. Listed investments Valuation in 2024 2,187,952 The historical cost of fixed a55et investments was £1,410,61212023.. £1,410,612). DEBTORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Debtors The Jerusalem and The East Mission Trust Limited Prepayments and accrued income I,S33 17,425 14,395 15.329 15,329 33,353 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 The Jerusalem and The East Mission Trust Limited Grants payable Accruals and deferred income 6,750 2,300 34,175 16,533 23,283 36,475 Page 14 continued...
The Jerusalem Bishopric Fund A charity administered by the Jerusalem and the East Mission Trust Limited Notes to the Financial Statements- continued for the Year Ended 30th June 2024 io. MOVEMENT IN FUNDS Net movement in funds At 30.6.24 Al 1.7.23 Restricted funds jerusalem Bishopric Fund MIs5ion Trust Limited Campbell The Overseas Bishopric Fund IEgyptl 9.072 5,707 1,333 3,850 7,004 11,865 1,546 8,831 16,076 17,572 2,879 12,681 19,962 29,246 49,208 Endowment fund5 jerusalem Bishopric fund Mission Trust Limited Campbell The Oversea5 8ishopric Fund (Egyptl 979,935 564,701 67,782 400,726 85,362 49,191 5,348 34,907 1,065,297 613,892 73,130 435,633 2,013,144 174,808 2,187,952 TOTAL FUNDS 2,033,106 204,054 2,237, 160 Net movement in funds. included in the above are a5 follow5.' Incoming resource5 Resources expended Gains and losses Movement in funds Restricted funds jerusalem Bishopric Fund Mission Trust Limited Campbell The Overseas Bishopric Fund IEgyptl 29,265 16,949 2,158 12,441 122,2611 15,0841 16121 13,6101 7,004 11,865 1,546 8,831 60,813 131,5671 29,246 Endowment funds jerusalem Bishopric fund Mission Trust Limited Campbell The Over5e35 Bishopric Fund (Egyptl 85,362 49,191 5,348 34,907 85,362 49,191 5,348 34,907 174,808 174,808 TOTAL FUNDS 60,813 131,5671 174,808 204,054 Page 15 continued...
The Jerusalem Bishopric Fund A charity administered by the Jerusalem and the East Mission Trust Limited Notes to the Financial Statement5- continued for the Year Ended 30th June 2024 io. MOVEMENT IN FUNDS- continued Comparative5 for movement in funds Net movement in funds At 30.6.23 At 1.7.22 Restricted funds Jerusalem Bishopric Fund Mission Trust Limited Campbell The Overseas Bishopric Fund (Egyptl 9,584 5,665 1,311 7,643 15121 42 22 13,7931 9,072 5,707 1,333 3,850 24,203 14,2411 19,962 Endowment funds Jerusalem Bishopric fund Mission Trust Limited Campbell The Overseas Bishopric Fund (Egyptl 949,408 547, 109 66,829 388,243 30,527 17,592 953 12,483 979,935 564,701 67,782 400,726 1,951,589 61,555 2,013,144 TOTAL FUNDS 1,975,792 57,314 2,033,106 Comparative net movement in fund5, included in the above are a5 follows.. Incoming resources Resources expended Gains and losses Movement in funds Restrlcted funds Jerusalem Bishopric Fund Mission Trust Limited Campbell The Overseas Bishopric Fund (Egyptl 28,565 16,514 2,090 11,853 129,0771 116,4721 {2,0681 115,6461 15121 42 22 13,7931 59,022 163,2631 14,2411 Endowment funds Jerusalem Bishopric fund Mission Trust Limited Campbell The Overseas 8i5hopric Fund (Egyptl 30,527 17,592 953 12,483 30,527 17,592 953 12,483 61,555 61,555 TOTAL FUND5 59,022 (63,2631 61,555 57,314 The permanent endowments are held expressly for the investments to produce income for the making of grants. Page 16 continued.
The Jerusalem Bishopric Fund A charity administered by the Jerusalem and the East Mission Trust Limited Notes to the Financial Statements- continued for the Year Ended 30th June 2024 ii. RELATED PARTY DISCLOSURES The Rt Rev A J Ball Ithe chair of the charilyl is Bishop in North Africa within the Province of Alexandria. As such there could be perceived to be a conflict of interest between thig role and his position within the charity. The trustees are aware of this potential conflict of interest and therefore the chair is not involved in decisions regarding grants to be paid by the charitv. Grants made to the Province of Alexandria in previous years have been used in the year to SUPPOrt the work of the Rt Rev A l Ball. Other than as above and as detailed in note 5, there were no related party transactions for the year ended 30th lune 2024. Page 17