## **THE YORK DIOCESAN MINISTERS’ RELIEF (2009) FUND**
## **FINANCIAL STATEMENTS 31 DECEMBER 2020**
## **INDEX**
||**Page**|
|---|---|
|Trustees’ Report|1-2|
|Report of the Independent Examiner|3|
|Statement of Financial Activities|4|
|Balance Sheet|5|
|Notes to the Accounts|6-7|
**CHARITY NUMBER 1134193**
**THE YORK DIOCESAN MINISTERS’ RELIEF (2009) FUND**
## **Trustees’ Annual Report for the year ended 31 December 2020**
## **Reference and administration details**
**Charity name** The York Diocesan Ministers’ Relief (2009) Fund **Registered charity number** The charity was created under a scheme dated 4 September 2009. On 31 December 2009 The York Diocesan Ministers’ Relief Fund, The Diocese of York North Riding Charitable Fund (1114377) and York West Riding Charitable Society (1002028) gifted their assets to the charity. The registered charity number is 1134193. **Charity’s principal address** Diocesan House Amy Johnson Way Clifton Moor York YO30 4XT
## **Names of the charity trustees who manage the charity**
The charity is administered by its managing trustees. During 2020 and to the date of this report, except where indicated, the trustees were as follows:
**Ex Officio trustees:** The Venerable SJ Rushton - Archdeacon of York The Venerable AC Broom - Archdeacon of the East Riding The Venerable A Bloor - Archdeacon of Cleveland (appointed 15 June 2020) Canon PJ Warry - Diocesan Secretary **Nominated trustees:** Mr MA Griggs Mr J Longbottom (appointed 14 May 2020) **Co-opted trustees:** Mrs HS Truefitt
## **Structure, governance and management**
**Type of governing document** Scheme of the Charity Commissioners dated 4 September 2009.
## **Objectives and activities**
**Summary of the objects of the** The object of the charity is to relieve need, hardship and **charity set out in its governing** distress among clergy and licensed lay workers who reside or **document** serve in or who have resided or served in the Diocese of York and among persons who are dependant relatives of or who have acted as housekeepers to any member of the clergy or licensed lay worker who is or was qualified as aforesaid.
## **Achievements and performance**
## **Achievements**
During the year the trustees made 11 grants (2019: 8) to beneficiaries totalling £31,081 (2019: £37,970). The market value of the trust’s investments increased by £155,228 to £1,665,062.
1
## **THE YORK DIOCESAN MINISTERS’ RELIEF (2009) FUND**
## **Trustees’ Annual Report for the year ended 31 December 2020 (cont’d)**
## **Financial Review**
The total value of the fund increased by £119,578 which was mainly due to a significant increase in the value of the Trust’s investments. The total reserves at 31 December 2020 were £1,736,028 of which £227,778 was unrestricted and £1,508,250 was permanent endowment.
## **Reserves**
The level of unrestricted reserves (£227,778 at 31 December 2020) is considered by the trustees to be sufficient to allow them to make grants under the charity’s primary object, that is for the relief of need, and also under its secondary object, that is in order to further the religious and other charitable work of the Church of England in the area of benefit.
The Trustees have determined that should unrestricted reserves reduce to £50,000 it will be necessary for them to reconsider this decision and to prioritise grants which are focussed on the relief of need. In selecting the £50,000 floor, the Trustees are mindful of the need to have in reserve sufficient funds available to meet the needs of occasional cases that require a larger than average grant.
As the year end reserves are significantly above this level, the Trustees are seeking additional grant making opportunities.
## **Public Benefit**
The Trustees are aware of the Charity Commission's guidance on public benefit and have had regard to it in their administration of the trust. The Trustees believe that the objectives of the trust meet the public benefit requirements and that the activities for the year are in accordance with the objectives.
## **Declaration**
The trustees declare that they have approved the trustees’ report above.
Signed on behalf of the trustees
Canon P J Warry 7 September 2021
2
## **THE YORK DIOCESAN MINISTERS’ RELIEF (2009) FUND**
## **Independent Examiner’s Report to The Trustees of The York Diocesan Ministers’ Relief (2009) Fund**
I report to the Trustees on my examination of the accounts of The York Diocesan Ministers’ Relief (2009) Fund for the year ended 31 December 2020 which are set out on pages 4 to 7.
## **Respective responsibilities of trustees and examiner**
The trustees are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the 2011 Act”). The trustees are satisfied that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and have chosen instead to have an independent examination.
I report in respect of my examination of the Trust’s accounts as carried out under section 145 of the 2011 Act. In carrying out my examination I have followed the requirements of the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent examiner’s statement**
I have completed my examination. I confirm that no matters have come to my attention giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts 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 should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Adam Halsey FCA 10 Queen Street Place London EC4R 1AG
Date: 14 October 2021
3
## **THE YORK DIOCESAN MINISTERS' RELIEF (2009) FUND**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDING 31 DECEMBER 2020**
|Notes
**Income and endowments from:**
Investments
3
**Total income**
**Expenditure on:**
Charitable activities
4
Governance costs
4
**Total expenditure**
**Net income before investment gains/(losses)**
Gains/(losses) on investments:
realised
unrealised
**Net movement in funds**
Funds brought forward 1 January
Funds carried forward 31 December|Unrestricted
Permanent
**Total**
Total
Funds Endowment
**2020**
2019
Funds
£
£
**£**
£
45,649
-
**45,649**
44,658|
|---|---|
||45,649
-
**45,649**
44,658|
||31,081
-
**31,081**
37,970
218
-
**218**
-|
||31,299
-
**31,299**
37,970|
||14,350
-
**14,350**
**6,688**
-
-
**-**
-
8,184
97,044
**105,228**
237,915|
||22,534
97,044
**119,578**
244,603|
||205,244
1,411,206
**1,616,450**
1,371,847|
||227,778
1,508,250
**1,736,028**
1,616,450|
The Charity's income and expenditure all relates to continuing operations. Included with the comparative amounts are unrealised losses on investments £18,103 which relate wholly to the permanent endowment funds. All other comparative amounts relate to the unrestricted funds.
4
**THE YORK DIOCESAN MINISTERS' RELIEF (2009) FUND**
## **BALANCE SHEET AS AT 31 DECEMBER 2020**
|Notes
**Fixed assets**
Investments
7
**Current assets**
Debtors and accrued interest
Prepayments
Loans
Deposits
Cash at bank
**Creditors**
Amounts falling due within one year
8
**Net assets**
**Funds of the charity**
Unrestricted
9
Permanent endowment
9
9|Unrestricted Endowment
**Total**
Total
Funds
Funds
**2020**
2019
£
£
£
£
156,812
1,508,250
**1,665,062**
1,509,834|
|---|---|
||156,812
1,508,250
**1,665,062**
1,509,834|
||-
-
**-**
-
-
-
**-**
-
-
-
**-**
-
70,639
-
**70,639**
107,731
327
-
**327**
325|
||70,966
-
**70,966**
108,056
-
-
**-**
(1,440)|
||227,778
1,508,250
**1,736,028**
1,616,450|
||227,778
-
**227,778**
205,244
-
1,508,250
**1,508,250**
1,411,206|
||227,778
1,508,250
**1,736,028**
1,616,450|
Included within comparative amounts are investment assets of £1,411,206 relating to permanent endowment funds.
Approved by the Board of Trustees and authorised for issue on 7 September 2021 and signed on behalf of the Board by:
Canon P J Warry
The notes on pages 6 to 7 form part of these accounts
5
## **THE YORK DIOCESAN MINISTERS’ RELIEF (2009) FUND**
## 31 DECEMBER 2019 **Notes to the accounts for the year ended 31 December 2020**
## **1. Basis of preparation**
2019 2018
## **1.1 Basis of accounting**
These accounts have been prepared on the basis of historical cost (except that investments are shown a t market value) in accordance with:
- The Statement of Recommended Practice for Charities (SORP 2015);
- the Charities Act 2011; and
- Financial Reporting Standard (FRS) 102.
## **2. Accounting policies**
## **FUNDS**
**Unrestricted Funds** These funds comprise those which the trustees are free to use in accordance with the charitable objects. **Endowment Fund** This fund represents those assets which must be held permanently by the charity, principally investments. Income arising on the endowment fund can be used in accordance with the objects of the charity and is included as unrestricted income. Any capital gains or losses on the investments form part of the fund. **INCOMING RESOUCES Investment income** This is included in the accounts when receivable **Interest receivable** Interest is included on an accruals basis
## **EXPENDITURE AND LIABILITIES**
**Grants payable** Expenditure on grants is recorded once the fund has made an unconditional commitment to pay the grant and this has been communicated to the beneficiary or the grant has been paid.
## **ASSETS**
**Investment gains and losses** Investments held as fixed assets are included at market value at the year end. Any gain or loss on revaluation is taken to the Statement of Financial Activities.
6
## **THE YORK DIOCESAN MINISTERS' RELIEF (2009) FUND**
## **Notes to the accounts for year ended 31 December 2020 (continued)**
31 DECEMBER 2020
|**3. Income and endowments from:**|Unrestricted|Endowment|**Total**|Total|
|---|---|---|---|---|
||Funds|Funds|**2020**|2019|
||£|£|**£**|£|
|**Investments**|||||
|Dividends|45,203|-|**45,203**|44,658|
|Interest|446|-|**446**|-|
|**Total income**|**45,649**|**-**|**45,649**|**44,658**|
|**4. Expenditure on:**|||||
|**Charitable activities**|||||
|Grants payable|||||
|8 grants to individuals (2018: 12)|31,081|-|**31,081**|37,970|
||31,081|-|**31,081**|37,970|
|**Governance costs**|||||
|Admin expenses|218|-|**218**|-|
||218|-|**218**|-|
||||||
|**Total expenditure**|**31,299**|**-**|**31,299**|**37,970**|
|**5. Trustee expenses**|||||
|No expenses were paid to any trustees in either 2020 or 2019.
No other payments|||were made to any||
|trustees, persons closely connected to them or related parties.|||||
|**6. Paid employees**|||||
|There are no specific employees of the charity or related costs.|||||
|**7. Creditors**|**2020**|2019|||
||£|£|||
|Grants awarded|-|(1,440)|||
||-|(1,440)|||
|**8. Fixed asset investments**|||||
|**Quoted investments**|**2020**|2019|||
||**£**|£|||
|Market value at 1 January|**1,509,834**|1,271,919|||
|Purchases at cost|**50,000**|-|||
|Disposal at opening market value|**-**|-|||
|Revaluation|**105,228**|237,915|||
|Market value at 31 December|**1,665,062**|1,509,834|||
|Historic Cost|**992,932**|942,932|||
|**9. Fund movements**|Unrestricted|Permanent|**Total**||
||fund|endowment|**funds**||
|||fund|||
||£|£|**£**||
|Balance at 1 January 2020|205,244|1,411,206|**1,616,450**||
|Incoming resources|45,649|-|**45,649**||
|Resources expended|(31,299)|-|**(31,299)**||
|Revaluation|8,184|97,044|**105,228**||
|Balance at 31 December 2020|**227,778**|**1,508,250**|**1,736,028**||
7