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|Forthe Year End|ed 3i March 2023||
|---|---|---|
|||Page Number|
|Annual
Report and Accounts|||
|Independent
Auditor's|Report||
|Statement
of Financial|Activities||
|Balance Sheet||12|
|Notes to the Financial|Statements||
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|||General
Fund|Designated
Fund|Restricted
Funds|Endowment
Fund|Endowment
Fund|2023|2022|
|---|---|---|---|---|---|---|---|---|
||||||||Total Funds|Total Funds|
||||||||f|f|
|Incoming
Resources|||||||||
|Incoming
resources from
charitable
activities (rents)||320,481||||0|320,481|288,937|
|Incoming resources
from
investments||50,949||||0|50,949|43,738|
|Total Incoming
Resources||371+30||||0|3717430|3327675|
|Resources Expended|||||||||
|Expenditure
on charitabie
activities||206,495|34,676|69,359||0|31Q,530|301,395|
|Expenditure
on investments|6|10,815||||0|10,815|10,881|
|Total Resources Expended||217,310|34,676|69359||0|321,345|312276|
|Net Income/
(Expenditure)||154,120|(34,676)|(69,359)|||50,085|20,399|
|Other Recognised|||||||||
|Gains and (Losses)|||||||||
|Property
Investments
Net Movement
in Funds|0|0
~l2,703
1417417|0
0
(347676)|675,0QQ
D
6057641|0
~79,79D)
(797790)||675,QQQ
~92,493
6327592|Q
l5'l,709
175 108|
|Before Transfers|||||||||
|Transfers
between
Funds|9/10|(145,732)|50,000|95,732|||||
|NET MOVEMENT IN FUNDS||(4,315)|157324|7017373|(797790)||6327592|175,08|
|RECONCILIATION
OF|||||||||
|FUNDS|||||||||
|Fund Balances Brought
forward at 01.04.22||100,105|45,834|995,576|7,423,215||8,564,730|8,389,622|
|Fund balances carried
forward at31.03.23||f957790|f617158|f16967949|f73437425||f971977322|f85647730|
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|As At 31Mar|ch 20|23||||||
|---|---|---|---|---|---|---|---|
|||NOTE|General|Designated|Restricted|2023|2022|
||||Fund|Fund|Funds|Total|Total|
|||||||Fundsf|Fundsf|
|FIXEDASSETS||||||||
|Tangible assets —Freehold
property
Cazenove
Investments||||0
0|6,876,067
1,849,999|6,876,067
1,849,999|6,201,067
1,863,224|
|||||0|8,726s066|SI726,066|8,064s291|
|CURRENT ASSETS||||||||
|Debtors|||0|0|0|0|0|
|Cazenove
Investment:|||451,039|0|0|451,039|443,733|
|Cash at Bank|||(327,884)|61,158|314,308|47,582|98,151|
||||123,155|61,158|314,30S|498,621|541,884|
|CURRENT LIABILITIES||||||||
|Creditors
(Amounts
due within
one|falling
year)||27 365|||27 365|41445|
|Net Current Assets /
(Liabilities)|||95,790|61,158|314308|471I256|500I439|
|NET ASSETS|||f95,790|f61,158|f9,040I374|f9I197I322|f8,5641730|
|REPRESENTED BY:||||||||
|General
Fund|||95,790|0|0|95,790|100,105|
|Designated
Fund||9|0|61,158|0|61,158|45,834|
|Restricted
Funds||14|0|0|1,696,949|1,696,949|995,576|
|Endowment
Fund||15|0
f95,790|0
f61~158|7,343,425
f91040~374|7,343,425
f9~197~322|7,423,215
fSI564~730|
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|INCOME FROM INVESTMENTS||||||||
|---|---|---|---|---|---|---|---|
|||||||2023f|2022|
|Investment
Income —Managed
Funds||||||50,389|43,708|
|Bank Deposit Interest||||||560
f50949|30
f43,738|
|EXPENDITURE ON CHARITABLE ACTIVITIES||||||||
|||||||2023f|2022|
|Grants from General
Fund (Note 4)||||||137,201|124,178|
|Grants from Restricted
Fund (Note 14)||||||69,359|49,593|
|Property
Maintenance
Property
Administration
Support costs (Note 5)||||||34,676
48,408
20,886
f310,530|59,749
46,814
21061
f301,395|
|GRANTS from GENERAL FUND||||||||
|||||||2023|2022|
|Grants to Ministers of United
Reformed||Churches|and Congregational|||||
|Churches
in the Administrative|County of Surrey|||||71,214|78,139|
|Grants for religious
purposes||||||65987
K137201|46 039
6124178|
|Note: Included
in the grants figures are||grants to|8|organisations.|These|are grants for church workers at||
|URC churches,
made for the furtherance||of religious||purposes:||||
|Guildford
URC Worker Grant|||||||217,599|
|Woking
URC Worker Grant|||||||f17,599|
|Bookham
URC Worker/Holiday
grant|||||||E8,758|
|Dorking
URC Worker Grant|||||||E8,734|
|High Cross Church Worker Grant|||||||E4,410|
|The Spire Church
Worker Grant|||||||E3/020|
|Godalming
United
Church Worker Grant|||||||E3,000|
|Ashford
Congregational
Worker Grant|||||||f1,667|
||||||||664 787|
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|The remaining|The remaining|grants are made to individuals
relating|grants are made to individuals
relating|grants are made to individuals
relating|to:||||
|---|---|---|---|---|---|---|---|---|
|Grants|to URC|for Individual|Ministers|expenses for|furtherance|of religious|purposes|841,392|
|Grants|to individual
retired||ministers|for furtherance|of religious|purposes||F29,822|
|Holiday|Clubs|||||||E1200
f72414|
|TOTAL||||||||f137,201|
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|UPPORT COSTS|||
|---|---|---|
||2023f|2022f|
|Governance:|||
|Audit Fee|2255
f2,255|2 386
f2,386|
|Financial Administration:|||
|Legal Fees
Clerk's Fees|0
17,719|800
17,019|
|Sundries|912
f18,631|816
618675|
|TOTAL SUPPORT COSTS|f20 886|f21,061|
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|||2023f|2022f|
|---|---|---|---|
|Investment|Fees|10815
f10815|10881
f10,881|
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|TANGIBLE ASSETS —F|REE||HOLD INVEST|MENT PRO|P|ERTIES|||||
|---|---|---|---|---|---|---|---|---|---|---|
|||||||||2023f||2022|
|Valuation
at 1 April 2022||||||||6,201,607|6,201,607||
|Additions at Cost||||||||0||0|
|Revaluation
Gain||||||||675,000||0|
|Value at 31 March 2023|||||||K6876607||K6 201067||
|An independent
valuation|was||performed
as|at 14 December 2022 by joseph||||jameson
Evans|Limited||
|which resulted
in an increase|||in the fair value|ofone of the||properties
held|off675,000.The historical cost||||
|was E1,650,000. A valuation||ofthe remaining||properties|was performed
in||May 2018 by Savills and further||||
|informal
valuation
assessments|||have been made each year|||by the Trustees|in conjunction
with Buckhurst||||
|Chartered
Surveyors. The|Trustees are ofthe opinion that the remaining
properties
should
not be revalued||||||||||
|given the uncertain
conditions|||in the market.||||||||
|INVESTMENTS|||||||||||
|||||General||Restricted||2023||2022|
|||||Fund||Funds|||||
|||||||f.|||||
|Market Value at01.04.2022|||||||||||
|Investments
listed on a recognised||||441,937||1,794,846||2,236,783||2,071,285|
|stock exchange|||||||||||
|Cash held as part ofthe|Investment|||1,796||68,378||70,174||98,135|
|portfolio|||||||||||
|||||443,733||1,863,224||2,306,957||2,169,420|
|Acquisitions
in the Year||||175267||440,923||616,190||419870|
|||||619,000||2,304,147||2,923,147||2,589,290|
|Disposals
in the Year||||162,083||332,921||495,004||409081|
|||||456,917||1,971,226||2,428,143||2,180,209|
|Cash movements
in the Year||||6825||41437||34612||27961|
|||||463,742||1,929,789||2,393,531||2,152,248|
|Net gain/(loss)||||12703||79790||92,493||154709|
|Market Value at31.03.2023||||451,039||1849,999||2301,038|2,306957||
|Investments
listed on a recognised||||442,418||1,823,058||2,265,476||2,236,783|
|stock exchange|||||||||||
|Cash held as part ofthe Investment||||8,621||26,941||35,562||70,174|
|portfolio|||||||||||
|||||451039||1849999||K2301038|K2|306957|
|Historical Cost ofInvestments
as at31.03.2023||||6414,679||Kii583,314||1,997,993|K1,849,327||
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||||||||2023f|2022f|
|---|---|---|---|---|---|---|---|---|
|Balance as at 1||April 2022|||||45,834|55,583|
|Add Transfer
in||the Year|||||50 DDD|50 000|
||||||||95,834|105,583|
|Less|Expenditure|in the Year|||||34 676|59749|
|Balance as at 31 March 2023|||||||561 158|f45 834|
|PROP|ORTION of NET INCOME for those||||in NEED||||
||||||||2023|2022|
|One third ofthe||net income,|calculated|as follows, transferrable||to the|||
||restricted|fund for the|relief ofpersons
in "need, hardship|||or|||
||distress||||||||
|Total|Incoming|Resources|||||371,430|332,675|
|Other|realised (losses)/gains||on Investment||Assets||12703|154709|
||||||||358,727|487,384|
|Less:|Management
and Administration||||||18,631|18,675|
|Less:|Property|Maintenance|Reserve||||50000
f290,096|50 000
f418,709|
|One third therefore|||||||f95732|f139,556|
|CRED|ITORS (Amounts
falling due within||||one year)||||
||||||||2023f|2022f|
|Other|Creditors||||||27 365|41 445|
||||||||f27 365|f41445|
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|||General
Fund|Designated
Fund|Restricted
Funds|Endowment
Fund|2022|2021|
|---|---|---|---|---|---|---|---|
|||||||Total Funds|Total Funds|
|Incoming
Resources||||||||
|Incoming
resources from
charitable
activities (rents)||288,937|||0|288,937|285,941|
|Incoming
resources
from
investments||43,738|||0|43,738|39,979|
|Total Incoming
Resources||332,675|||0|3324675|3255920|
|Resources Expended||||||||
|Expenditure
on charit:able
activities||192,053|59,749|49,593|0|310,530|305,800|
|Expenditure
on investments|6|10,881|||0|10Bill|9,754|
|Total Resources Brpeoded||202934|59,749|49593|0|312,276|315,554|
|Net Income/
(Expenditure)||129,741|(59,749)|(49,593)||20,399|11,366|
|Other Recognised||||||||
|Gains and (Losses)||||||||
|Property|||||0||0|
|Investments|0|1'1052||0|140,657|154,709|381,940|
|Net Movement
in Funds||143,793|(59,749)|(49,593)|140,657|175,108|393,306|
|Before Transfers||||||||
|Transfers
between
Funds|9/10|(189,556)|50,000|139,556||||
|NET MOVEMENT IN FUNDS||(45763)|(9749)|893963|1406S7|175108|3934306|
|RECONCILIATION
OF||||||||
|FUNDS||||||||
|Fund Balances Brought
forward at 01.04.21||145,868|55,583|905,613|7,282,558|8,389,622|7,996,316|
|Fund balances carried
forward at31.03.22||f100105|f45834|f9954576|f7tr423 21S|f8564730|f&389622|
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|RESTRICTED FUNDS||||
|---|---|---|---|
||Revaluation|In Need|Total|
||Reservef|Fund|Funds
f.|
|Balance brought forward at 1 April 2022|715,688|279,888|995,576|
|Grants given
in the year to 247 clients|0|(69,359)|(69,359)|
|Other recognised
gains/(losses)|675,000|0|675,000|
|Allocations
for the year to 31March 2023|0|95732|95,732|
|Balance carried forward at 31 March 2023|K1,390688|f306261|K1696589|
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|||2023|2022|
|---|---|---|---|
|Balance brought|forward at 1 April|7,423,215|7,282,558|
|Other recognised|gains/(losses)|79,790|140,657|
|Balance carried|forward at 31 March|K7343425|K7423,215|
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