**REGISTERED CHARITY NUMBER: 1152432**
## **REPORT OF THE TRUSTEES AND**
**UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 1ST DECEMBER 2023**
## **FOR**
## **DIDYMUS CIO**
Cresswells 12 Market Street Hebden Bridge West Yorkshire HX7 6AD
**DIDYMUS CIO**
## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 1ST DECEMBER 2023**
||**Page**|**Page**|**Page**|
|---|---|---|---|
|**Chair's Report**||1||
|**Report of the Trustees**|2|to|3|
|**Independent Examiner's Report**||4||
|**Statement of Financial Activities**||5||
|**Balance Sheet**||6||
|**Notes to the Financial Statements**|7|to|11|
|**Detailed Statement of Financial Activities**||12||
**DIDYMUS CIO**
## **CHAIR'S REPORT FOR THE YEAR ENDED 1ST DECEMBER 2023**
This is our ten-year anniversary and it has been an exciting year as we have reviewed our growth as a charity over that period. We have undertaken a major strategic review to help us in the planning for the next phase of our development.
We have taken the decision to focus our grant giving on arts projects, particularly those which encourage wider access and participation from those who have found it hard to get involved. Didymus will also have a specific geographical focus, concentrating on supporting charitable projects in the London boroughs and in the County of Yorkshire.
From now on, we will be working with organisations on a longer-term basis so that we can develop relationships with them to help develop their capacity and the impact of their work.
We have also appointed a new Grants Officer, Kathryn Kendall, who will be starting work with us in the coming year. We are delighted that she will join us with her significant experience in this sector.
Over the past year, Didymus has made total grant donations of £71,539. It has been very rewarding to see the impact of our grants on the organisations which we have supported both in terms of the projects which have taken place as a result and also in building the capacity of these charities.
Our Trustees have met three times during the year via Zoom and through an in-person meeting. I would like to thank them for their unfailing support and hard work during this time. Many thanks also to our former Administrator Sheila Powell for all her support to us over many years.
The Revd Dr Daphne Green
Page 1
**DIDYMUS CIO**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 1ST DECEMBER 2023**
The trustees present their report with the financial statements of the charity for the year ended 1st December 2023. 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 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.
## **Grantmaking**
Didymus is a small charity which supports organisations whose work is based in England and Wales. It fulfills its aims to encourage social inclusion through the arts and education, with an emphasis on capacity building and supporting specific projects.
Our full grant making policy and application process are available on our website www.didymus-charity.org.uk.
## **ACHIEVEMENT AND PERFORMANCE**
## **Fundraising activities**
During the year donations (net of gift aid) of £19,408 (2022: £NIL) have been received.
## **Grants given**
During the year grants of £71,539 (2022 £216,569) were given.
## **Grant List 2023**
|**Grant List 2023**|||
|---|---|---|
|**Charity**|**Amount**|**Date Awarded**|
|Tutti Frutti Productions|£ 10,000|04/05/2023|
|Hope Into Action UK|£ 10,000|11/05/2023|
|Childs i Foundation (CiF)|£ 4,480|11/05/2023|
|Prisoners Advice Service|£ 5,000|11/05/2023|
|Young and Inspired|£ 5,000|11/05/2023|
|Blooming Blossoms Trust|£ 5,000|11/05/2023|
|Our Moon Education|£ 3,689|11/05/2023|
|Thumbs Up|£ 2,000|11/05/2023|
|Hour Community|£ 4,870|11/05/2023|
|Purple Patch Arts|£ 5,000|11/05/2023|
|Drama Express|£ 1,500|11/05/2023|
|Raw Workshop|£ 5,000|11/05/2023|
|Bees for Development|£ 10,000|18/07/2023|
## **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 2
**DIDYMUS CIO**
**REPORT OF THE TRUSTEES FOR THE YEAR ENDED 1ST DECEMBER 2023**
## **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
- 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 Ms C E C Cummins Mr W D Fawkner-Corbett (resigned 4.12.22)
## **Independent Examiner**
Cresswells 12 Market Street Hebden Bridge West Yorkshire HX7 6AD
Approved by order of the board of trustees on 2nd July 2024 and signed on its behalf by:
The Rev Dr D M Green - Trustee
Page 3
## **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 1st December 2023.
## **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
2nd July 2024
Page 4
**DIDYMUS CIO**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 1ST DECEMBER 2023**
|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
£
£
19,408
-
-
177,095
19,408
177,095
-
5,824
69,439
-
6,561
-
76,000
5,824
-
(800,037)
(56,592)
(628,766)
56,592
(56,592)
-
(685,358)
-
5,040,356
-
4,354,998|2023
Total
funds
£
19,408
177,095
196,503
5,824
69,439
6,561
81,824
(800,037)
(685,358)
-
(685,358)
5,040,356
4,354,998|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|
|---|---|---|---|
The notes form part of these financial statements
Page 5
**DIDYMUS CIO**
## **BALANCE SHEET 1ST DECEMBER 2023**
|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
Endowment funds
**TOTAL FUNDS**|2023
Unrestricted
Endowment
Total
fund
fund
funds
£
£
£
-
4,140,990
4,140,990
140,420
214,008
354,428
(70,420)
-
(70,420)
70,000
214,008
284,008
70,000
4,354,998
4,424,998
(70,000)
-
(70,000)
-
4,354,998
4,354,998
4,354,998
4,354,998|2022
Total
funds
£
4,991,915
189,641
(52,800)
136,841
5,128,756
(88,400)
5,040,356
5,040,356
5,040,356|
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 2nd July 2024 and were signed on its behalf by:
The Rev Dr D M Green - Trustee
The notes form part of these financial statements
Page 6
**DIDYMUS CIO**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 1ST DECEMBER 2023**
## **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|2023
£
175,931
1,164
177,095|2022
£
140,596
32
140,628|
|---|---|---|
continued...
Page 7
**DIDYMUS CIO**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 1ST DECEMBER 2023**
## **3. RAISING FUNDS**
## **Investment management costs**
|**Investment management costs**|||
|---|---|---|
||2023|2022|
||£|£|
|Portfolio management|5,824|5,886|
## **4. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 1st December 2023 nor for the year ended 1st December 2022.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 1st December 2023 nor for the year ended 1st December 2022.
|**5.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
Unrestricted
Endowment
fund
fund
£
£
**INCOME AND ENDOWMENTS FROM**
Investment income
-
140,628
**EXPENDITURE ON**
Raising funds
1
5,885
**Charitable activities**
General
170,373
-
Other
1,106
-
**Total**
171,480
5,885
Net gains/(losses) on investments
-
(71,762)
**NET INCOME/(EXPENDITURE)**
(171,480)
62,981
**Transfers between funds**
151,331
(151,331)
**Net movement in funds**
(20,149)
(88,350)
**RECONCILIATION OF FUNDS**
Total funds brought forward
20,149
5,128,706
**TOTAL FUNDS CARRIED FORWARD**
-
5,040,356|Total
funds
£
140,628
5,886
170,373
1,106
177,365
(71,762)
(108,499)
-
(108,499)
5,148,855
5,040,356|
|---|---|
continued...
Page 8
**DIDYMUS CIO**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 1ST DECEMBER 2023**
## **6. FIXED ASSET INVESTMENTS**
|**MARKET VALUE**
At 2nd December 2022
Additions
Disposals
Revaluations
At 1st December 2023
**NET BOOK VALUE**
At 1st December 2023
At 1st December 2022
There were no investment assets outside the UK.
**7.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
2023
£
Other creditors
70,420
**8.**
**CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR**
2023
£
Other creditors
70,000
**9.**
**MOVEMENT IN FUNDS**
Net
Transfers
At
movement
between
2.12.22
in funds
funds
£
£
£
**Unrestricted funds**
General fund
-
(56,592)
56,592
**Endowment funds**
Capital fund
5,040,356
(628,766)
(56,592)
**TOTAL FUNDS**
5,040,356
(685,358)
-|Listed
investments
£
4,991,915
41,045
(248,613)
(643,357)
4,140,990
4,140,990
4,991,915
2022
£
52,800
2022
£
88,400
At
1.12.23
£
-
4,354,998
4,354,998|
|---|---|
continued...
Page 9
**DIDYMUS CIO**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 1ST DECEMBER 2023**
## **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
19,408
(76,000)
-
**Endowment funds**
Capital fund
177,095
(5,824)
(800,037)
**TOTAL FUNDS**
196,503
(81,824)
(800,037)
**Comparatives for 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)
-
Comparative 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)|Movement
in funds
£
(56,592)
(628,766)
(685,358)
At
1.12.22
£
-
5,040,356
5,040,356
Movement
in funds
£
(171,480)
62,981
(108,499)|
|---|---|
continued...
Page 10
**DIDYMUS CIO**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 1ST DECEMBER 2023**
## **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
2.12.21
£
20,149
5,128,706
5,148,855|Net
movement
in funds
£
(228,072)
(565,785)
(793,857)|Transfers
between
funds
£
207,923
(207,923)
-|At
1.12.23
£
-
4,354,998
4,354,998|
|---|---|---|---|---|
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
£
19,408
317,723
337,131|Resources
expended
£
(247,480)
(11,709)
(259,189)|Gains and
losses
£
-
(871,799)
(871,799)|Movement
in funds
£
(228,072)
(565,785)
(793,857)|
|---|---|---|---|---|
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 1st December 2023.
Page 11
**DIDYMUS CIO**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 1ST DECEMBER 2023**
|**INCOME AND ENDOWMENTS**
**Donations and legacies**
Donations
**Investment income**
Dividend income
Deposit account interest
**Total incoming resources**
**EXPENDITURE**
**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/(expenditure) before**
**gains and losses**
**Realised recognised gains and losses**
Realised gains/(losses) on fixed asset
investments
**Net expenditure**|2023
£
19,408
175,931
1,164
177,095
196,503
5,824
69,439
1,320
386
4,855
6,561
81,824
114,679
(800,037)
(685,358)|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)|
|---|---|---|
This page does not form part of the statutory financial statements
Page 12