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|---|---|---|---|---|---|
|Report ofthe|Trustees||1|to|3|
|Independent|Examiner's|Report||||
|Statement of|Financial|Activities||||
|Balance Sheet||||||
|Notes to the|Financial Statements||7|to|12|
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|||||||2023|2022|
|---|---|---|---|---|---|---|---|
|||||Unrestricted|Restricted|Total|Total|
|||||funds|fund|funds|funds|
||||Notes|P|P.|E|E|
|INCOME AND ENDOWMENTS||FROII||||||
|Donations
and legacies||||183,175|17,420|200,595|159,176|
|Investment
income||||4,380||4,380|2,361|
|Other income||||19,458||19,458||
|Total||||207,013|17,420|224,433|161,537|
|EXPENDITURE ON||||||||
|Charitable
activities||||||||
|Charitable
Activities||||204,993|7,281|212,274|171,496|
|NET INCOME/(EXPENDITURE)||||2,020|10,139|12,159|(9,959)|
|RECONCILIATION|OF FUNDS|||||||
|Total funds brought|forward|||9,099|15,752|24,851|34,810|
|TOTAL FUNDS CARRIED FORWARD||||11,119|25,891|37,010|24,851|
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||31|MARCH 2023||||
|---|---|---|---|---|---|
|||||2023|2022|
|||Unrestricted|Restricted|Total|Total|
|||funds|fund|funds|funds|
||Notes|E|F|F|F|
|FIXEDASSETS||||||
|Tangible assets||5,830||5,830|5,830|
|CURRENT ASSETS||||||
|Debtors||3,358||3,358|3,982|
|Cash at bank||4,811|25,891|30,702|35,691|
|||8,169|25,891|34,060|39,673|
|CREDITORS||||||
|Amounts
falling due within one year||(2,880)||(2,880)|(7,782)|
|NET CURRENT ASSETS||5,289|25,891|31,180|31,891|
|TOTAL ASSETSLESSCURRENT LIABILITIES||11,119|25,891|37,010|37,721|
|CREDITORS||||||
|Amounts
falling due after more than one year|9||||(12,870)|
|NET ASSETS||11,119|25,891|37,010|24,851|
|FUNDS|10|||||
|Unrestricted
funds||||11,119|9,099|
|Restricted funds||||25,891|15,752|
|TOTAL FUNDS||||37,010|24,851|
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|INVESTMENT INCOME|||
|---|---|---|
||2023|2022|
|Rents received|4,380|2,360|
|Deposit account interest||1|
||4,380|2,361|
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||||NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023|NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023|NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023|NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023|||
|---|---|---|---|---|---|---|---|---|
||COMPARATIVES FOR||THE STATEMENT OF FINANCIAL ACTIVITIES||||||
|||||||Unrestricted|Restricted|Total|
|||||||funds|fund|funds|
||||||||E|F|
||INCOME AND ENDOWMENTS||||FROM||||
||Donations
and legacies|||||144,474|14,702|159,176|
||Investment
income|||||2,361||2,361|
||Total|||||146,835|14,702|161,537|
||EXPENDITURE ON||||||||
||Charitable
activities||||||||
||Charitable
Activities|||||166,716|4,780|171,496|
||NET INCOME/(EXPENDITURE)|||||(19,881)|9,922|(9,959)|
||RECONCILIATION|OF|FUNDS||||||
||Total funds brought|forward||||28,980|5,830|34,810|
||TOTAL FUNDS CARRIED|||FORWARD||9,099|15,752|24,851|
|6.|TANGIBLE FIXEDASSETS||||||||
|||||||||Church|
|||||||||Premises|
|||||||||F|
||COST||||||||
||At 1 April 2022 and|31 March 2023||||||5,830|
||NET BOOK VALUE||||||||
||At 31 March 2023|||||||5,830|
||At 31 March 2022|||||||5,830|
|7.|DEBTORS:AMOUNTS||FALLING DUE WITHIN ONE YEAR||||||
||||||||2023|2022|
||||||||F|E|
||Other debtors||||||3,358|3,982|
|8.|CREDITORS: AMOUNTS|||FALLING DUE WITHIN ONE YEAR|||||
||||||||2023|2022|
||||||||E||
||Taxation and social|security||||||990|
||Other creditors||||||2,880|6,792|
||||||||2,880|7,782|
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|CREDITORS".A|MOUNT|S
FAL|LI|NG|DUE AFTER MORE THAN|ONE YEAR|||
|---|---|---|---|---|---|---|---|---|
||||||||2023|2022|
||||||||F||
|Other creditors||||||||12,870|
|MOVEMENT
IN FUNDS|||||||||
||||||||Net||
||||||||movement|At|
|||||||At 1.4.22|in funds|31.3.23|
|||||||F|F|F|
|Unrestricted
funds|||||||||
|General fund||||||9,099|655|9,754|
|Renovate - Renovation||(Designated)|||Fund||1,365|1,365|
|||||||9,099|2,020|11,119|
|Restricted funds|||||||||
|Renovation
Fund||||||15,752|10,139|25,891|
|TOTAL FUNDS||||||24,851|12,159|37,010|
|Net movement|in funds,|included||in|the above are as follows:||||
|||||||Incoming|Resources|Movement|
|||||||resources|expended|in funds|
||||||||F|F|
|Unrestricted
funds|||||||||
|General fund||||||205,648|(204,993)|655|
|Renovate - Renovation||(Designated)|||Fund|1,365||1,365|
|||||||207,013|(204,993)|2,020|
|Restricted funds|||||||||
|Renovation
Fund||||||17,420|(7,281)|10,139|
|TOTAL FUNDS||||||224,433|(212,274)|12,159|
|Comparatives|for movement||in|funds|||||
|||||||Net|Transfers||
|||||||movement|between|At|
||||||At 1.4.21|in funds|funds|31.3.22|
|||||||F||F|
|Unrestricted
funds|||||||||
|General
fund|||||9,535|(21,732)|21,296|9,099|
|Designated
Funds|||||3,092|2,643|(5,735)||
|Richard Taylor|Fund||||16,353|(792)|(15,561)||
||||||28,980|(19,881)||9,099|
|Restricted funds|||||||||
|Renovation
Fund|||||5,830|9,922||15,752|
|TOTAL FUNDS|||||34,810|(9,959)||24,851|
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|Actuarial
valuation as at 31 December 20|Actuarial
valuation as at 31 December 20|19|19||||||||
|---|---|---|---|---|---|---|---|---|---|---|
|A formal valuation
of the DB Plan as at 31||December 2019was||carried||out by a|professionally|qualified||Actuary|
|using the Projected
Unit Method. At|the valuation
date the market|||value||ofthe DB Plan assets||was f298||million,|
|whilst the
level of assets
needed|to pay benefits||was 2316m,|giving||a deficit|of 218m (equivalent||to|a
past|
|service funding
level of 94'/o).
The|Church|and the|other participating||employers||in the DB Plan are||collectively||
|responsible
for funding
this deficit.|||||||||||
|The key financial
assumptions
underlying
the valuation
were as follows:|||||||||||
|Type of assumption|||||||||'/o|p,a.|
|RPI price inflation
assumption||||||||||3.20|
|CPI price inflation
assumption||||||||||2.70|
|Minimum
Pensionable
Income Increase Adjustment|||(above CPI)|||||||0.50|
|Pre-retirement
assumed
investment|returns|(gilt yield plus 1.75'/o||pa)||||||2.95|
|Post retirement
assumed
investment|returns|(including
benefits matched||||by the insurance|||||
|policy) (gilt yield plus 0.5'/o pa)||||||||||1.70|
|Minimum
Pensionable
Income increases (CPI plus|||0.5'/o)|||||||3.20|
|Deferred pension
increases (based|on RPI)||||||||||
|Pre April 2009||||||||||3.20|
|Post April 2009||||||||||2.50|
|||Page|11|||||continued.
..|||
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