OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2021-12-01-accounts

REGISTERED CHARITY NUMBER: 1152432

REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 1 DECEMBER 2021

FOR

DIDYMUS CIO

Cresswells Accountants (UK) Limited Chartered Accountants and Statutory Auditors 12 Market Street Hebden Bridge West Yorkshire HX7 6AD

DIDYMUS CIO

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 1 DECEMBER 2021

Page
Chair's Report 1
Report of the Trustees 2 to 6
Report of the Independent Auditors 7 to 9
Statement of Financial Activities 10
Balance Sheet 11
Cash Flow Statement 12
Notes to the Cash Flow Statement 13
Notes to the Financial Statements 14 to 19
Detailed Statement of Financial Activities 20

DIDYMUS CIO

CHAIR'S REPORT FOR THE YEAR ENDED 1 DECEMBER 2021

Over the past year, Didymus has continued to support a number of UK-based charities working in the UK, Africa and Central and South America in the areas of social inclusion, education, the arts, equality and religious understanding. Whilst we have provided many smaller grants, Didymus is increasingly focusing on working with a few charities over a longer period so that we may build up relationships and assist these charities at a critical stage of their growth. This has been highly rewarding and it has been very encouraging to see the difference which our extended grant scheme has made to these organisations. At the same time, we have welcomed the feedback from our grant recipients through their audit reports which has helped us to see very clearly the impact which our grants have had.

The Trustees have met regularly throughout the year via Zoom. We have been very struck by the impact of Covid on many charities and we have sought to support those who have responded with resilience and imagination to the pandemic, which has required considerable versatility in their part.

Over the past year, Didymus has made total grant donations of £369,374.

I would like to thank the trustees of Didymus very warmly for their unfailing support, hard work and dedication and also to our administrator, Sheila Powell for all that she does to provide administrative support for Didymus as well as all those who provide other forms of help for us.

The Revd Dr Daphne Green

Page 1

DIDYMUS CIO

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 1 DECEMBER 2021

The trustees present their report with the financial statements of the charity for the year ended 1 December 2021. The trustees 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 (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The objects of the CIO are such general charitable purposes for the benefit of the public as the charity trustees from time to time in their discretion think fit.

The Didymus Capital fund was established by donation of cash and shares in 2014. The trustees have the power to spend or retain both capital and income and so the fund is classed as expendable endowment. The fund's objects are to retain sufficient capital to provide an income for the CIO to make grants as they see fit.

Grantmaking

Our full grant making policy and application process are available on our website www.didymus-charity.org.uk, our stated aims are:

ACHIEVEMENT AND PERFORMANCE

Fundraising activities

During the year donations (net of gift aid) of £1,110,106 (2020 £200,000) have been received.

Grants given

During the year grants of £369,374 (2020 £197,541) were given.

Page 2

DIDYMUS CIO

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 1 DECEMBER 2021

ACHIEVEMENT AND PERFORMANCE Grant List 2021

Charity Amount Date Awar
Hope in Action £ 9,200 22/01/2021
Our Moon Education £ 3,152 22/03/2021
Village Water £ 4,130 23/03/2021
Childs i Foundation £ 5,000 24/03/2021
Kidogo Kids £ 4,200 24/03/2021
Giakonda Solar Schools £ 3,000 24/03/2021
Clapton Common Boys Club £ 4,000 25/03/2021
Amantani UK £ 5,000 26/03/2021
Blooming Blossoms Trust £ 5,000 26/03/2021
SONshine Club £ 4,950 29/03/2021
Women and Children First UK £ 5,000 29/03/2021
Children of Rwanda £ 2,500 31/03/2021
Create (Arts) Ltd £ 5,000 31/03/2021
Inside Out for Children £ 2,500 06/04/2021
Theatre Royal Haymarket Masterclass Trust £ 1,500 06/04/2021
Across £ 2,000 06/04/2021
Windle International £ 5,000 06/04/2021
Wayward Productions £ 4,000 06/04/2021
Pregnancy Options Centre, Chichester £ 3,850 06/04/2021
Eastside Young Leaders Academy £ 4,840 07/04/2021
Extra Mile £ 3,120 08/04/2021
Rowan Humberstone £ 5,000 08/04/2021
Action Ethiopia £ 5,000 08/04/2021
Compass Childrens Charity £ 4,000 08/04/2021
Tom Dale Company £ 5,000 08/04/2021
Margaret Clitherow Trust £ 5,000 08/04/2021
Tanyard Youth Project Ltd £ 4,750 09/04/2021
Trust Links Ltd £ 3,000 09/04/2021
Education Futures Trust £ 5,000 09/04/2021
Raising Futures Kenya £ 5,000 12/04/2021
Harmony Youth Project £ 4,732 12/04/2021
Just Kidding £ 5,000 12/04/2021
Nuneaton & North Warwickshire Riding for the
Disabled £ 4,479 13/04/2021
Making Music, Changing Lives £ 4,140 13/04/2021
Free Legal Advice Group for Domestic
Violence £ 5,000 13/04/2021
St David's Diocesan Council for Social
Responsibility £ 2,500 14/04/2021
St Wilfred's Centre £ 5,000 14/04/2021
Maggs Day Centre £ 5,000 15/04/2021
Activity Club for Children with Special Needs £ 2,000 15/04/2021
Prisoners Advice Service £ 5,000 15/04/2021
Us in a Bus £ 5,000 15/04/2021
Young Womens Trust £ 5,000 16/04/2021
Chain Reaction £ 4,998 19/04/2021
Teach2Teach International £ 2,500 19/04/2021
Mahogany Opera Group £ 5,000 20/04/2021
Chailey Heritage Enterprise Centre £ 5,000 20/04/2021
Drunken Chorus £10,000 23/04/2021
Embracing Arts £ 4,560 15/07/2021
Little Gate Farm £ 5,000 16/07/2021
RAISE Gambia £ 4,000 19/07/2021

Date Awarded

Page 3

DIDYMUS CIO

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 1 DECEMBER 2021

ACHIEVEMENT AND PERFORMANCE

ACHIEVEMENT AND PERFORMANCE
Hello World £ 5,000 21/07/2021
Dingley Family & Specialist Early Years
Centres £ 420 21/07/2021
Linking Lives UK £ 4,000 21/07/2021
Umbrella Derby and Derbyshire £ 5,000 22/07/2021
Tir Coed £ 4,657 22/07/2021
balletLORENT £ 5,000 23/07/2021
The Cowshed £ 5,000 27/07/2021
Coach Core Foundation £ 4,000 27/07/2021
Thomas Morley Trust £ 5,000 27/07/2021
Deki Ltd £ 3,000 29/07/2021
Exeter Ethiopia Link £ 2,500 30/07/2021
Harpenden Spotlight on Africa £ 5,000 03/08/2021
Autism Early Support Trust Ltd £ 3,452 05/08/2021
Bees for Development £10,000 06/08/2021
Cherwell Theatre Company £ 3,000 11/08/2021
Iris Theatre £ 2,000 07/09/2021
The Choir with No Name (CWNN) £ 5,000 28/10/2021
Side by Side (School) Ltd £ 5,000 01/11/2021
Friends of the Karen Street Children £ 5,000 02/11/2021
Sixty-One £ 3,000 02/11/2021
Daisies Kids Club £ 4,500 03/11/2021
The Food Chain £ 3,000 04/11/2021
Carmarthen Youth Project £ 3,000 05/11/2021
The Principle Trust Childrens Charity £ 5,000 05/11/2021
The Zink Project CIO £ 5,000 05/11/2021
Christian Faith Ministries International £ 3,000 08/11/2021
Friends of Amani UK £ 5,000 09/11/2021
Regal Theatre Minehead £ 3,500 09/11/2021
Priors Park Neighbourhood Project £ 4,000 10/11/2021
Artizan International £ 3,743 11/11/2021
Garage Art Group £ 4,000 11/11/2021
Refugee Women Connect £ 5,000 12/11/2021
Magic Lantern £ 3,000 16/11/2021
Prodigal Bikes £ 2,000 22/11/2021
Drama Express £ 1,500 22/11/2021
Cecily's Fund £ 2,000 22/11/2021
School Clubz £ 2,000 22/11/2021
Golden Toad Theatre £ 2,500 24/11/2021

FINANCIAL REVIEW

Reserves policy

Reserves are held by the charity in order to be invested to provide income for grants and administration, and if required to be used to meet future grant obligations

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document

The charity is controlled by its governing document , a constitution of a Charitable Incorporated Organisation.

Page 4

DIDYMUS CIO

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 1 DECEMBER 2021

STRUCTURE, GOVERNANCE AND MANAGEMENT

Recruitment and appointment of new trustees

Apart from the first charity trustees, every trustee shall be appointed by resolution of the trustees passed at a properly convened meeting of the charity trustees for the following terms

In selecting individuals for appointment as charity trustees, the charity trustees must have regard to the skills, knowledge and experience needed for the effective administration of the CIO.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number

1152432

Principal address

47 Iverna Gardens London W8 6TW

Trustees

The Rev Dr D M Green Mr A H Wall Mrs H N Wall Mrs O C J Houlihan (resigned 19.2.2022) Ms C E C Cummins Mr W D Fawkner-Corbett

Auditors

Cresswells Accountants (UK) Limited Chartered Accountants and Statutory Auditors 12 Market Street Hebden Bridge West Yorkshire HX7 6AD

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to

Page 5

DIDYMUS CIO

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 1 DECEMBER 2021

STATEMENT OF TRUSTEES' RESPONSIBILITIES - continued

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by order of the board of trustees on 4 August 2022 and signed on its behalf by:

The Rev Dr D M Green - Trustee

Page 6

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF DIDYMUS CIO

Opinion

We have audited the financial statements of Didymus CIO (the 'charity') for the year ended 1 December 2021 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

Page 7

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF DIDYMUS CIO

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, the trustees are responsible for the preparation of the financial statements which give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Our responsibilities for the audit of the financial statements

We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures include the following:

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

Page 8

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF DIDYMUS CIO

Use of our report

This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Cresswells Accountants (UK) Limited Chartered Accountants and Statutory Auditors 12 Market Street Hebden Bridge West Yorkshire HX7 6AD

4 August 2022

Page 9

DIDYMUS CIO

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 1 DECEMBER 2021

Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
Investment income
3
Total
EXPENDITURE ON
Raising funds
4
Charitable activities
5
General
Other
Total
Net gains on investments
NET INCOME
Transfers between funds
13
Net movement in funds
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
fund
£
1,110,106
-
1,110,106
-
560,358
3,234
563,592
-
546,514
(572,442)
(25,928)
46,077
20,149		 Endowment
fund
£
-
87,316
87,316
5,460
-
-
5,460
1,752,575
1,834,431
572,442
2,406,873
2,721,833
5,128,706		 2021
Total
funds
£
1,110,106
87,316
1,197,422
5,460
560,358
3,234
569,052
1,752,575
2,380,945
-
2,380,945
2,767,910
5,148,855		 2020
Total
funds
£
250,000
66,323
316,323
3,793
201,260
383
205,436
176,628
287,515
-
287,515
2,480,395
2,767,910

The notes form part of these financial statements

Page 10

DIDYMUS CIO

BALANCE SHEET 1 DECEMBER 2021

Notes
FIXED ASSETS
Investments
10
CURRENT ASSETS
Cash at bank
CREDITORS
Amounts falling due within one year
11
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
CREDITORS
Amounts falling due after more than one year
12
NET ASSETS
FUNDS
13
Unrestricted funds
Endowment funds
TOTAL FUNDS		 Unrestricted
fund
£
-
210,549
(52,800)
157,749
157,749
(137,600)
20,149		 Endowment
fund
£
5,077,811
50,895
-
50,895
5,128,706
-
5,128,706		 2021
Total
funds
£
5,077,811
261,444
(52,800)
208,644
5,286,455
(137,600)
5,148,855
20,149
5,128,706
5,148,855		 2020
Total
funds
£
2,690,591
78,039
(720)
77,319
2,767,910
-
2,767,910
46,077
2,721,833
2,767,910

The financial statements were approved by the Board of Trustees and authorised for issue on 4 August 2022 and were signed on its behalf by:

The Rev Dr D M Green - Trustee

The notes form part of these financial statements

Page 11

DIDYMUS CIO

CASH FLOW STATEMENT FOR THE YEAR ENDED 1 DECEMBER 2021

Notes
Cash flows from operating activities
Cash generated from operations
1
Interest paid
Net cash provided by operating activities
Cash flows from investing activities
Purchase of fixed asset investments
Sale of fixed asset investments
Interest received
Dividends received
Net cash used in investing activities
Change in cash and cash equivalents
in the reporting period
Cash and cash equivalents at the
beginning of the reporting period
Cash and cash equivalents at the end
of the reporting period		 2021
£
730,760
(26)
730,734
(791,058)
156,413
-
87,316
(547,329)
183,405
78,039
261,444		 2020
£
44,564
-
44,564
(253,761)
145,975
3
66,320
(41,463)
3,101
74,938
78,039

The notes form part of these financial statements

Page 12

DIDYMUS CIO

NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 1 DECEMBER 2021

1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES OPERATING ACTIVITIES OPERATING ACTIVITIES
2021 2020
£ £
Net income for the reporting period (as per the Statement of
Financial Activities) 2,380,945 287,515
Adjustments for:
Gain on investments (1,752,575) (176,628)
Interest received - (3)
Interest paid 26 -
Dividends received (87,316) (66,320)
Increase in creditors 189,680 -
Net cash provided by operations 730,760 44,564
2. ANALYSIS OF CHANGES IN NET FUNDS
Net cash At 2.12.20
£		 Cash flow
£		 At 1.12.21
£
Cash at bank 78,039 183,405 261,444
78,039 183,405 261,444
Total 78,039 183,405 261,444

The notes form part of these financial statements

Page 13

DIDYMUS CIO

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 1 DECEMBER 2021

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.

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.

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 cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.

Taxation

The charity is exempt from tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

2.

DONATIONS AND LEGACIES

Donations
Gift aid		 2021
£
1,110,106
-
1,110,106		 2020
£
200,000
50,000
250,000

continued...

Page 14

DIDYMUS CIO

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 1 DECEMBER 2021

3.
INVESTMENT INCOME
Dividend income
Deposit account interest
4.
RAISING FUNDS
Other trading activities
Interest payable and similar charges
Investment management costs
Portfolio management
Aggregate amounts
5.
CHARITABLE ACTIVITIES COSTS
Grant
funding of
activities
(see note
6)
£
General
556,174
6.
GRANTS PAYABLE
General
The total grants paid to institutions during the year was as follows:
Grants
Closing commitments		 2021
£
87,316
-
87,316
2021
£
26
2021
£
5,434
5,460
Support
costs (see
note 7)
£
4,184
2021
£
556,174
2021
£
369,374
186,800
556,174		 2020
£
66,320
3
66,323
2020
£
-
2020
£
3,793
3,793
Totals
£
560,358
2020
£
197,541
2020
£
197,541
-
197,541

continued...

Page 15

DIDYMUS CIO

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 1 DECEMBER 2021

7. SUPPORT COSTS

SUPPORT COSTS
Governance
costs
£
Other resources expended 3,234
General 4,184
7,418

8. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 1 December 2021 nor for the year ended 1 December 2020.

Trustees' expenses

There were no trustees' expenses paid for the year ended 1 December 2021 nor for the year ended 1 December 2020.

9.

COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

INCOME AND ENDOWMENTS FROM
Donations and legacies
Investment income
Total
EXPENDITURE ON
Raising funds
Charitable activities
General
Other
Total
Net gains on investments
NET INCOME/(EXPENDITURE)
Transfers between funds
Net movement in funds
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
fund
£
125,000
-
125,000
-
201,260
383
201,643
-
(76,643)
66,092
(10,551)
56,628
46,077		 Endowment
fund
£
125,000
66,323
191,323
3,793
-
-
3,793
176,628
364,158
(66,092)
298,066
2,423,767
2,721,833		 Total
funds
£
250,000
66,323
316,323
3,793
201,260
383
205,436
176,628
287,515
-
287,515
2,480,395
2,767,910

continued...

Page 16

DIDYMUS CIO

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 1 DECEMBER 2021

10. FIXED ASSET INVESTMENTS

MARKET VALUE
At 2 December 2020
Additions
Disposals
Revaluations
At 1 December 2021
NET BOOK VALUE
At 1 December 2021
At 1 December 2020
There were no investment assets outside the UK.
11.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Other creditors
12.
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
Other creditors
13.
MOVEMENT IN FUNDS
Net
At
movement
2.12.20
in funds
£
£
Unrestricted funds
General fund
46,077
546,514
Endowment funds
Capital fund
2,721,833
1,834,431
TOTAL FUNDS
2,767,910
2,380,945		 2021
£
52,800
2021
£
137,600
Transfers
between
funds
£
(572,442)
572,442
-		 Listed
investments
£
2,690,591
791,058
(127,063)
1,723,225
5,077,811
5,077,811
2,690,591
2020
£
720
2020
£
-
At
1.12.21
£
20,149
5,128,706
5,148,855

continued...

Page 17

DIDYMUS CIO

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 1 DECEMBER 2021

13. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Endowment funds
Capital fund
TOTAL FUNDS
Comparatives for movement in funds
Unrestricted funds
General fund
Endowment funds
Capital fund
TOTAL FUNDS
Comparative net movement in funds, included
Unrestricted funds
General fund
Endowment funds
Capital fund
TOTAL FUNDS		 Incoming
Resources
resources
expended
£
£
1,110,106
(563,592)
87,316
(5,460)
1,197,422
(569,052)
Net
At
movement
2.12.19
in funds
£
£
56,628
(76,643)
2,423,767
364,158
2,480,395
287,515
in the above are as follows:
Incoming
Resources
resources
expended
£
£
125,000
(201,643)
191,323
(3,793)
316,323
(205,436)		 Gains and
losses
£
-
1,752,575
1,752,575
Transfers
between
funds
£
66,092
(66,092)
-
Gains and
losses
£
-
176,628
176,628		 Movement
in funds
£
546,514
1,834,431
2,380,945
At
1.12.20
£
46,077
2,721,833
2,767,910
Movement
in funds
£
(76,643)
364,158
287,515

continued...

Page 18

DIDYMUS CIO

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 1 DECEMBER 2021

13. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds
General fund
Endowment funds
Capital fund
TOTAL FUNDS		 At
2.12.19
£
56,628
2,423,767
2,480,395		 Net
movement
in funds
£
469,871
2,198,589
2,668,460		 Transfers
between
funds
£
(506,350)
506,350
-		 At
1.12.21
£
20,149
5,128,706
5,148,855

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Endowment funds
Capital fund
TOTAL FUNDS		 Incoming
resources
£
1,235,106
278,639
1,513,745		 Resources
expended
£
(765,235)
(9,253)
(774,488)		 Gains and
losses
£
-
1,929,203
1,929,203		 Movement
in funds
£
469,871
2,198,589
2,668,460

The Didymus Capital fund was established by donation of cash and shares in 2014. The trustees have the power to spend or retain both capital and income and so the capital fund is classed as an expendable endowment. The fund's objects are to retain sufficient capital to provide an income for the CIO to make grants as they see fit.

14. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 1 December 2021.

Page 19

DIDYMUS CIO

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 1 DECEMBER 2021

INCOME AND ENDOWMENTS
Donations and legacies
Donations
Gift aid
Investment income
Dividend income
Deposit account interest
Total incoming resources
EXPENDITURE
Other trading activities
Bank interest
Investment management costs
Portfolio management
Charitable activities
Grants to institutions
Support costs
Governance costs
Accountancy and legal fees
Computer costs
Admin expenses
Total resources expended
Net income before gains and losses
Realised recognised gains and losses
Realised gains/(losses) on fixed asset
investments
Net income		 2021
£
1,110,106
-
1,110,106
87,316
-
87,316
1,197,422
26
5,434
556,174
2,880
354
4,184
7,418
569,052
628,370
1,752,575
2,380,945		 2020
£
200,000
50,000
250,000
66,320
3
66,323
316,323
-
3,793
197,541
720
383
2,999
4,102
205,436
110,887
176,628
287,515

This page does not form part of the statutory financial statements

Page 20