REGISTERED CHARITY NUMBER: 1152432
REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 1 DECEMBER 2022
FOR
DIDYMUS CIO
Cresswells 12 Market Street Hebden Bridge West Yorkshire HX7 6AD
DIDYMUS CIO
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 1 DECEMBER 2022
| Page | Page | Page | |
|---|---|---|---|
| Chair's Report | 1 | ||
| Report of the Trustees | 2 | to | 4 |
| Independent Examiner's Report | 5 | ||
| Statement of Financial Activities | 6 | ||
| Balance Sheet | 7 | ||
| Notes to the Financial Statements | 8 | to | 12 |
| Detailed Statement of Financial Activities | 13 |
DIDYMUS CIO
CHAIR'S REPORT FOR THE YEAR ENDED 1 DECEMBER 2022
This has been a year of transition for Didymus. We have continued to support a number of smaller projects for a range of UK-based charities working in the UK and Africa. However, we have increasingly focused our support on providing longer term support for certain organisations in which we are able to have a significant impact in helping them to develop their capacity. We have been delighted to see the results of this in a number of ways including increasing their grant-raising potential, building the skill level of their staff and enabling them to widen the range of services and support in which they can offer.
On the basis of this, the trustees have taken the decision that from mid 2023, Didymus CIO will focus on promoting social inclusion through the arts and education, with an emphasis on planning for the future, capacity building and supporting specific projects. We will be working with a small number of organisations to achieve this.
Over the past year, Didymus has made total grant donations of £216,569.
Our Trustees have met three times during the year via Zoom and through a residential meeting. I would like to thank them for their unfailing support and hard work during this time. In particular, I would like to thank Bill Fawkner-Corbett who has served Didymus as Trustee for ten years and has played a major part in its development. We are extremely grateful for all that he has given us and wish him all the very best in the future. Many thanks also to our Administrator Sheila Powell for all her help over the year and her continuous support and encouragement.
The Revd Dr Daphne Green
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DIDYMUS CIO
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 1 DECEMBER 2022
The trustees present their report with the financial statements of the charity for the year ended 1 December 2022. 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:
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To encourage social inclusion
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To advance education
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To develop the arts
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To advance equality and diversity by creating opportunities for women
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To promote religious understanding
ACHIEVEMENT AND PERFORMANCE
Fundraising activities
During the year donations (net of gift aid) of £NIL (2021 £1,110,106) have been received.
Grants given
During the year grants of £216,569 (2021 £369,374) were given.
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DIDYMUS CIO
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 1 DECEMBER 2022
ACHIEVEMENT AND PERFORMANCE Grant List 2022
| ACHIEVEMENT AND PERFORMANCE Grant List 2022 |
||
|---|---|---|
| Charity | Amount | Date Awarded |
| Tutti Frutti | £ 10,000 | 13/12/2021 |
| Hope into Action | £ 10,001 | 13/01/2022 |
| Dogs for Autism | £ 5,000 | 17/03/2022 |
| Repton Community Trust | £ 4,500 | 17/03/2022 |
| West Norfolk Riding for the Disabled | £ 3,250 | 17/03/2022 |
| Emerge (UK) Company Ltd | £ 4,972 | 17/03/2022 |
| Inner Flame | £ 2,000 | 28/03/2022 |
| Stephen Spender Trust | £ 2,500 | 28/03/2022 |
| Cutting Edge Theatre | £ 3,000 | 28/03/2022 |
| Thanet Community Development Trust | £ 3,500 | 28/03/2022 |
| Girls Friendly Society in England & Wales | £ 2,000 | 28/03/2022 |
| KAG Advocacy CIO | £ 2,000 | 28/03/2022 |
| Raising Futures Kenya | £ 5,000 | 28/03/2022 |
| Plymouth Music Zone | £ 3,700 | 28/03/2022 |
| The Peter Pan Centre for Children with Special | ||
| Needs | £ 4,388 | 28/03/2022 |
| Afrocats | £ 2,000 | 28/03/2022 |
| Basingstoke & District Disability Forum | £ 1,398 | 28/03/2022 |
| Edinburgh City Mission | £ 2,000 | 28/03/2022 |
| Vital Exposure Ltd | £ 2,000 | 28/03/2022 |
| The Children's Art School | £ 2,000 | 26/04/2022 |
| FISCUS (Fiscus North Ltd) | £ 3,360 | 27/04/2022 |
| Wamba Community Trust | £ 1,500 | 28/04/2022 |
| Purple Patch Arts | £ 5,000 | 05/05/2022 |
| The Green Team | £ 2,000 | 05/05/2022 |
| Temwa | £ 3,000 | 08/07/2022 |
| Kids Club Kampala | £ 5,000 | 11/07/2022 |
| EducAid Sierra Leone | £ 5,000 | 11/07/2022 |
| Outside Edge Theatre Company | £ 5,000 | 13/07/2022 |
| Keynsham & District Mencap Society | £ 5,000 | 13/07/2022 |
| Tees Valley Women's Centre Ltd | £ 5,000 | 14/07/2022 |
| Pregnancy Options Centre | £ 3,000 | 14/07/2022 |
| Cherwell Theatre Company | £ 3,000 | 20/07/2022 |
| Imago Dei Prison Ministry | £ 5,000 | 26/07/2022 |
| Futures Theatre Company | £ 5,000 | 27/07/2022 |
| Frodsham Youth Association | £ 4,000 | 17/08/2022 |
| Warwickshire Young Carers | £ 5,000 | 18/08/2022 |
| Active Hope Ltd | £ 3,990 | 07/09/2022 |
| The Troy Trust (Bees for Development) | £ 10,000 | 12/09/2022 |
| Hope GB | £ 1,610 | 10/10/2022 |
| Drunken Chorus | £ 10,000 | 03/11/2022 |
| Children of Rwanda | £ 3,000 | 19/11/2022 |
| Garage Art Group | £ 4,000 | 19/11/2022 |
| Chailey Heritage Enterprise Centre | £ 5,000 | 19/11/2022 |
| Golddigger Trust | £ 5,000 | 19/11/2022 |
| Back on Track | £ 5,000 | 19/11/2022 |
| Embracing Arts | £ 4,500 | 19/11/2022 |
| Friends of the Karen Street Children | £ 5,000 | 19/11/2022 |
| Linking Lives UK | £ 5,000 | 19/11/2022 |
| Rural Coffee Caravan | £ 5,000 | 19/11/2022 |
| Magic Lantern | £ 3,000 | 19/11/2022 |
| Soundabout | £ 2,400 | 19/11/2022 |
| The Spark Arts for Children | £ 4,000 | 19/11/2022 |
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
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DIDYMUS CIO
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 1 DECEMBER 2022
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document , a constitution of a Charitable Incorporated Organisation.
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
1 Any trustee who is a family member shall serve in office indefinitely 2 Any trustee who is not a family member shall serve in office for a term of three years.
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
Independent Examiner
Cresswells 12 Market Street Hebden Bridge West Yorkshire HX7 6AD
Approved by order of the board of trustees on 8 July 2023 and signed on its behalf by:
The Rev Dr D M Green - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF DIDYMUS CIO
Independent examiner's report to the trustees of Didymus CIO
I report to the charity trustees on my examination of the accounts of Didymus CIO (the Trust) for the year ended 1 December 2022.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
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 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or 2. the accounts do not accord with those records; or
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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.
Mr J Dakin
Cresswells 12 Market Street Hebden Bridge West Yorkshire HX7 6AD
8 July 2023
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DIDYMUS CIO
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 1 DECEMBER 2022
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies Investment income 2 Total EXPENDITURE ON Raising funds 3 Charitable activities General Other Total Net gains/(losses) on investments NET INCOME/(EXPENDITURE) Transfers between funds 9 Net movement in funds RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
Unrestricted Endowment fund fund £ £ - - - 140,628 - 140,628 1 5,885 170,373 - 1,106 - 171,480 5,885 - (71,762) (171,480) 62,981 151,331 (151,331) (20,149) (88,350) 20,149 5,128,706 - 5,040,356 |
2022 Total funds £ - 140,628 140,628 5,886 170,373 1,106 177,365 (71,762) (108,499) - (108,499) 5,148,855 5,040,356 |
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 |
|---|---|---|---|
The notes form part of these financial statements
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DIDYMUS CIO
BALANCE SHEET 1 DECEMBER 2022
| Notes FIXED ASSETS Investments 6 CURRENT ASSETS Cash at bank CREDITORS Amounts falling due within one year 7 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES CREDITORS Amounts falling due after more than one year 8 NET ASSETS FUNDS 9 Unrestricted funds Endowment funds TOTAL FUNDS |
2022 Unrestricted Endowment Total fund fund funds £ £ £ - 4,991,915 4,991,915 141,200 48,441 189,641 (52,800) - (52,800) 88,400 48,441 136,841 88,400 5,040,356 5,128,756 (88,400) - (88,400) - 5,040,356 5,040,356 - 5,040,356 5,040,356 |
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 |
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 8 July 2023 and were signed on its behalf by:
The Rev Dr D M Green - Trustee
The notes form part of these financial statements
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DIDYMUS CIO
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 1 DECEMBER 2022
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. INVESTMENT INCOME
| Dividend income Deposit account interest |
2022 £ 140,596 32 140,628 |
2021 £ 87,316 - 87,316 |
|---|---|---|
continued...
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DIDYMUS CIO
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 1 DECEMBER 2022
3. RAISING FUNDS
Investment management costs
| Investment management costs | ||
|---|---|---|
| 2022 | 2021 | |
| £ | £ | |
| Portfolio management | 5,886 | 5,434 |
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 1 December 2022 nor for the year ended 1 December 2021.
Trustees' expenses
There were no trustees' expenses paid for the year ended 1 December 2022 nor for the year ended 1 December 2021.
5. 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 Transfers between funds 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 |
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 |
|---|---|---|---|
continued...
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DIDYMUS CIO
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 1 DECEMBER 2022
6. FIXED ASSET INVESTMENTS
| MARKET VALUE At 2 December 2021 Additions Disposals Revaluations At 1 December 2022 NET BOOK VALUE At 1 December 2022 At 1 December 2021 There were no investment assets outside the UK. 7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2022 £ Other creditors 52,800 8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 2022 £ Other creditors 88,400 9. MOVEMENT IN FUNDS Net Transfers At movement between 2.12.21 in funds funds £ £ £ Unrestricted funds General fund 20,149 (171,480) 151,331 Endowment funds Capital fund 5,128,706 62,981 (151,331) TOTAL FUNDS 5,148,855 (108,499) - |
Listed investments £ 5,077,811 442,925 (608,230) 79,409 4,991,915 4,991,915 5,077,811 2021 £ 52,800 2021 £ 137,600 At 1.12.22 £ - 5,040,356 5,040,356 |
|---|---|
continued...
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DIDYMUS CIO
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 1 DECEMBER 2022
9. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Incoming Resources Gains and resources expended losses £ £ £ Unrestricted funds General fund - (171,480) - Endowment funds Capital fund 140,628 (5,885) (71,762) TOTAL FUNDS 140,628 (177,365) (71,762) Comparatives for movement in funds Net Transfers At movement between 2.12.20 in funds funds £ £ £ Unrestricted funds General fund 46,077 546,514 (572,442) Endowment funds Capital fund 2,721,833 1,834,431 572,442 TOTAL FUNDS 2,767,910 2,380,945 - Comparative net movement in funds, included in the above are as follows: Incoming Resources Gains and resources expended losses £ £ £ Unrestricted funds General fund 1,110,106 (563,592) - Endowment funds Capital fund 87,316 (5,460) 1,752,575 TOTAL FUNDS 1,197,422 (569,052) 1,752,575 |
Movement in funds £ (171,480) 62,981 (108,499) At 1.12.21 £ 20,149 5,128,706 5,148,855 Movement in funds £ 546,514 1,834,431 2,380,945 |
|---|---|
continued...
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DIDYMUS CIO
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 1 DECEMBER 2022
9. 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 2.12.20 £ 46,077 2,721,833 2,767,910 |
Net movement in funds £ 375,034 1,897,412 2,272,446 |
Transfers between funds £ (421,111) 421,111 - |
At 1.12.22 £ - 5,040,356 5,040,356 |
|---|---|---|---|---|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming resources £ Unrestricted funds General fund 1,110,106 Endowment funds Capital fund 227,944 TOTAL FUNDS 1,338,050 |
Resources Gains and Movement expended losses in funds £ £ £ (735,072) - 375,034 (11,345) 1,680,813 1,897,412 (746,417) 1,680,813 2,272,446 |
|---|---|
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.
10. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 1 December 2022.
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DIDYMUS CIO
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 1 DECEMBER 2022
| INCOME AND ENDOWMENTS Donations and legacies Donations 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 (expenditure)/income before gains and losses Realised recognised gains and losses Realised gains/(losses) on fixed asset investments Net (expenditure)/income |
2022 £ - 140,596 32 140,628 140,628 - 5,886 167,369 720 386 3,004 4,110 177,365 (36,737) (71,762) (108,499) |
2021 £ 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 |
|---|---|---|
This page does not form part of the statutory financial statements
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