**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
Page 1
**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:
- To encourage social inclusion
- To advance education
- To develop the arts
- To advance equality and diversity by creating opportunities for women
- 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.
Page 2
**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
Page 3
**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
Page 4
## **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:
1. 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
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.
Mr J Dakin
Cresswells 12 Market Street Hebden Bridge West Yorkshire HX7 6AD
8 July 2023
Page 5
**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
Page 6
**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
Page 7
**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...
Page 8
**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...
Page 9
**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...
Page 10
**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...
Page 11
**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.
Page 12
**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
Page 13