## **RESOURCE FOR ANGLICAN RENEWAL MINISTRIES**
**(CHARITY NUMBER: 1180394)**
## **REPORT AND FINANCIAL STATEMENTS YEAR ENDED: 31[ST] DECEMBER 2024**
**Wenn Townsend Abingdon**
**RESOURCE FOR ANGLICAN RENEWAL MINISTRIES**
## **FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] DECEMBER 2024**
## **Contents**
|Trust Information|1|
|---|---|
|Trustees Report|2 - 6|
|Independent Examiner’s Report|7|
|Statement of Financial Activities|8-9|
|Balance Sheet|10|
|Notes|11 - 17|
**1**
**RESOURCE FOR ANGLICAN RENEWAL MINISTRIES TRUST INFORMATION FOR THE YEAR ENDED 31[ST] DECEMBER 2024**
TRUSTEES: The Rt Revd John Holbrook (Chair) The Revd Canon Alma Felicity Lawson Mr Oliver Hermes (Treasurer) Mrs Katharine King Canon Dr Alison Fleetwood The Revd Eleanor Jeans Mrs Catherine Colleen Riley (resigned 4 April 2024) The Rt Revd Rob Saner-Haigh The Ven Mones Farah DIRECTOR: The Revd Dr Christopher Landau CHARITY NUMBER: 1180394 ADDRESS: Meeting Point House Southwater Square Telford Shropshire TF3 4HS INDEPENDENT EXAMINER: Stuart Bates FCA Wenn Townsend, Chartered Accountants 10 Broad Street Abingdon on Thames Oxon OX14 3LH BANKS: CAF Bank Ltd 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ INVESTMENT MANAGERS: CCLA Investment Management Limited Senator House 85 Queen Victoria Street London EC4V 4ET SOLICITORS: Lupton Fawcett Solicitors Stamford House Piccadilly York YO1 9PP
**2**
**RESOURCE FOR ANGLICAN RENEWAL MINISTRIES TRUSTEES REPORT FOR THE YEAR ENDED 31[ST] DECEMBER 2024**
The Trustees present their report along with the financial statements of the Charitable Incorporated Organisation (CIO) for the year ended 31 December 2024. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the CIO’s constitution, the Charities Act 2011 and FRS102 (2016) as the applicable accounting standard and the 2016 version of the Statement of Recommended Practice, accounting and reporting by charities (SORP (FRS102)).
## **Structure, governance and management**
ReSource for Anglican Renewal Ministries was established as a Charitable Incorporated Organisation on 22 October 2018. On 1 May 2019 the Assets and Undertakings of the original charity were transferred to the CIO. Subsequently the original charity Anglican Renewal Ministries (327035 now 1180394-1) was formally linked to ReSource for Anglican Renewal Ministries.
The names of the Trustees who have served during the year and to the date of this report and other advisors of the CIO are listed on page 1.
Trustees are appointed by the Board of Trustees and meet at least four times a year. The Finance sub-Committee meets in advance of each full meeting of the Board and comprises the Director, Finance Officer together with at least 2 Trustees. Trustees of the CIO are also Trustees of Anglican Renewal Ministries 1180394-1.
## **Methods, policies and procedures for recruitment, appointment, induction and training of new trustees**
Trustees are recruited from personal contact by the existing Trustees or the Director from among those who hold to the objectives and ethos of the CIO. Appointment is by unanimous vote and formal resolution by the existing Trustees, in accordance with the requirements of the Constitution.
When appointed most Trustees are already familiar with the work and ethos of the charity. Candidates for Trusteeship are invited to observe one full meeting of the Trustees before any formal invitation to become a Trustee is extended. Training is offered to all new Trustees by the Chair and Director covering the responsibilities of Trustees generally and the work of the CIO. Copies of the Constitution governing the CIO, the Staff Handbook, and the latest annual financial statements are provided to all new Trustees.
## **Risk management**
The Trustees have a Risk Register and regularly review the major risks to which the CIO is exposed and have established systems and procedures to manage those risks.
**3**
**ANGLICAN RENEWAL MINISTRIES TRUSTEES REPORT FOR THE YEAR ENDED 31[ST] DECEMBER 2024**
## **Objectives and activities**
The object of the CIO is the advancement of the Christian Religion through the promotion and encouragement of spiritual renewal within the Church of England and other churches within the Anglican Communion and other Christian denominations. In furtherance of these objects the CIO organises or runs conferences, training events and seminars and provides speakers on renewal for churches and other Christian groups. We also publish on our website other items conducive to the achievement of the objects of the CIO. The Alongside Scheme, providing one-to-one support for clergy and lay leaders, is now an important strand of our work.
## **Achievements and performance**
The Statement of Financial Activities for the year is set out on page 8 of the financial statements.
## **Reserves policy**
At 31 December 2023 the total reserves of the charity stood at £91,594. During the year these increased by £9,163, creating reserves of £100,757 at 31 December 2024, of these £10,794 were restricted reserves and £89,963 were unrestricted general reserves.
The policy of the trustees is to utilise any unrestricted reserves in the furtherance of the objectives of the charity, subject to retaining a minimum level of £45,000, the equivalent of three months essential gross expenditure, for working capital purposes.
## **Summary of main achievements during the year**
**General** – The charity has continued to run retreats and events both for local churches and in residential settings (including at Cuddesdon in Oxfordshire; at Foxhill in Cheshire; at Lee Abbey, Devon; and returning again to Scargill in Yorkshire). Sanctuary Days and other events have seen ReSource Ministers at work around the country – and even, this year, at the Anglican church in Luxembourg. Regional day gatherings have also become an important part of ReSource’s work, and these happened in Taunton, Leeds, Blackburn and Norwich, in addition to a Prayer Day at Harnhill in Gloucestershire.Other engagements included the Director leading a session at New Wine’s summer festival, a wellbeing day for Carlisle diocese, and involvement with a diocesan Festival of Healing and Renewal at Blackburn Cathedral
More than 90 members of the ReSource family gathered at Swanwick in October for our second ‘Family Gathering’, with a further dozen joining online, offering key volunteers for the charity an opportunity to meet, reflect and pray together alongside staff and trustees. This included welcoming 30 new Companions in the Alongside Scheme, which is now firmly established as a key part of ReSource’s core ministry.
Online events have continued to be an important element in engagement with existing supporters and those new to the charity. The series of ‘Pentecost Conversations’ was held live and subsequently added to YouTube and reached record numbers. Our online retreats linked to key moments in the church year (increasingly led by the ReSource Ministers) are also growing in popularity.
**4**
## **ANGLICAN RENEWAL MINISTRIES TRUSTEES REPORT FOR THE YEAR ENDED 31[ST] DECEMBER 2024**
The Charismatic History project has flourished during the year, and a residential Consultation at Wycliffe Hall in Oxford in September catalysed the work of the project, gathering 40 key leaders together. An online archive of materials is being developed.
The ‘Courses and Resources’ part of the ministry has been strengthened by the addition of ‘Your Shape for God’s Service’ as a third core course (alongside Saints Alive and Alive in Christ). It has been heartening to hear of many churches engaging with this material, and the other ReSource courses available online.
Following a Synod question on rural strategy within the Church of England from ReSource Minister Stewart Fyfe, the charity has begun devising a potential learning community programme focused on renewal in multi-church rural contexts, which will be piloted in 2025.
**Trustees** – The Rt Revd John Holbrook, Bishop of Brixworth in the Diocese of Peterborough, has chaired the Board of Trustees throughout 2024. The Revd Canon Felicity Lawson has continued as Vice-Chair. There were no new Trustee appointments during the year; sadly Catherine Colleen Riley felt obliged to resign on health grounds on 4th April 2024. The Trustees continue to monitor the gifts needed to serve the work of the Board and look to make further appointments accordingly, mindful of the outcome of the earlier skills audit.
**Employees and Volunteers** – The Revd Dr Christopher Landau continued as the charity’s full time Director. The Trustees are very grateful for the leadership he has shown to the CIO throughout this year.
We are grateful to all the staff, both those based in Telford and those working remotely, for the service they gave during the course of 2024, particularly the considerable effort made by all of the team to ensure the success of the Family Gathering event in October.
We are pleased to report that the group of ReSource Ministers have proved to be a very effective way of increasing the capacity of the work that ReSource is able to offer throughout the country both online and in-person. Revd Garrie and Mrs Jill Griffiths retired as ReSource Ministers with our thanks; and Revd Donna Williams was appointed. We are privileged to have such a spiritually mature group of church leaders working alongside the Director.
The Alongside Scheme continues to grow: by the end of the year, 140 church leaders were being supported by 96 trained volunteer Companions.
**5**
## **ANGLICAN RENEWAL MINISTRIES TRUSTEES REPORT FOR THE YEAR ENDED 31[ST] DECEMBER 2024**
**Finance** – The Trust saw a small increase in its resources in 2024. With the subdued economic climate we were pleased with the outcome of The Annual Appeal to our supporters and their contributions ensured that all aspects of the ministry were able to continue. The CIO continues to receive grants from various Trust Funds for which the Trustees are very grateful, as they are for all the gifts and donations received from supporters, partner churches and other sources. One of the grants received in 2022 was to partially fund the Alongside Scheme for the 3 years to December 2025 (see Note 10). The CIO’s reserves are small, but the Trustees seek to steward these well and to maximum effect, trusting God to supply the funds needed to fulfil the work to which it is called.
**Work demand** – We have seen a continuing upward growth in demand for local engagement with churches, particularly Sanctuary Days and ‘church weekends at home’. The cost of living crisis has had a particular impact on churches booking residential weekends away, and there have been fewer speaker requests for such bookings. 2024 proved to be our busiest year for bookings overall since our current bookings officer began working for ReSource in 2019.
## **Future Plans**
ReSource’s work has been clarified under three key headings: Retreats & Events; Courses & Resources; the Alongside Scheme. These three areas of work are supported by the Intercessors and their prayer for all areas of the charity’s work, and by the existing Partnerships with Scargill and SOMA. The charity is committed to the incremental growth of each of these established areas of ministry. The pilot ‘Rural Renewal Learning Community’ seeks to draw together these strands of work in a two year programme for local churches.
The Trustees and the Director are committed to fulfilling the objectives of the Charitable Incorporated Organisation and to growing its work to extend the reach and depth of the charity’s ministry in the Church of England and other Christian denominations. The team of volunteer ReSource Ministers are now regularly at work around the country delivering ministry, and the growth of the Alongside Scheme is creating a wider network of those connected with ReSource’s ministry.
## **Public benefit**
The Trustees have referred to, and have taken due regard of, the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing our aims and objectives and in planning our future activities.
**6**
## **ANGLICAN RENEWAL MINISTRIES TRUSTEES REPORT FOR THE YEAR ENDED 31[ST] DECEMBER 2024**
In furtherance of its objects the Charity seeks
- In partnership with local churches and dioceses to organise and run meetings and conferences on spiritual renewal and how it can impact the mission of the church, both generally and specifically, to the general public.
- To provide consultancy and mentoring/coaching for faith-based organisations.
- • To teach and train in the UK and in the wider Anglican Communion on life skills and life management in the context of Christian discipleship.
- Stimulate the development of leadership in the local church.
The Board of Trustees ensures that all legal compliances are in place and regularly reviews the CIO’s Data Protection, Privacy, Safeguarding and other statutory requirements.
Signed on behalf of the Board of Trustees on 30[th] April 2025.
______________________
The Rt Revd John Holbrook, Chair of Trustees
**7**
## **RESOURCE FOR ANGLICAN RENEWAL MINISTRIES Independent Examiner’s Report to the trustees of Anglican Renewal Ministries**
I report on the accounts of the Trust for the year ended 31[st] December 2024, which are set out on pages 8 to 16.
## **Respective responsibilities of trustees and examiner**
As the charity’s trustees 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 charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Independent examiner’s statement**
Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the Act. I confirm that I am qualified to undertake the examination because I am a member of the Association of Charted Accountants which is one of the listed bodies.
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 charity 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.
Stuart Bates FCA 9[th] May 2025
Wenn Townsend Chartered Accountants
**8**
## **RESOURCE FOR ANGLICAN RENEWAL MINISTRIES STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31[ST] DECEMBER 2024**
|**Incoming Resources**
**Note**
_Incoming resources from generated_
_funds:_
Voluntary income
- Regular Giving from Supporters
- One off Donations from Supporters
- Fees and Donations from Bookings
- Gift Aid
- Trust Grants
- Legacies
Investment income
_Incoming resources from charitable_
_activities:_
Other income
**Total Incoming Resources**
**Resources Expended**
_Charitable activities:_
Office costs
Communications
Travel & subsistence
Salaries and pensions
3
Other
Professional and consultants
_Governance costs:_
Accountancy
Financing
**Total Resources Expended**
**Net Movement in Funds**
_Reconciliation of Funds_
Funds as at 1st January 2024
Funds as at 31st December 2024|**Unrestricted**
**Funds**
**£**
**Restricted**
**Funds**
**£**
**Total**
**Funds**
**2024**
**£**
**Total**
**Funds**
**2023**
**£**
62,481
-
62,481
57,924
78,031
5,434
83,465
61,260
27,936
-
27,936
22,526
15,014
-
15,014
13,276
5,100
41,800
46,900
30,100
10,096
-
10,096
10,726
4,357
-
4,357
938
4,491
-
4,491
6,796|
|---|---|
||207,506
47,234
254,740
203,546|
||8,630
-
8,630
12,311
22,086
-
22,086
15,997
16,818
2,761
19,579
16,962
109,884
38,636
148,520
141,546
13,683
15,833
29,516
8,702
13,180
-
13,180
1,267
4,000
-
4,000
3,500
66
-
66
60|
||188,347
57,230
245,577
200,345|
|||
||19,159
(9,996)
9,163
3,201
70,804
20,790
91,594
88,393
89,963
10,794
100,757
91,594|
**9**
## **RESOURCE FOR ANGLICAN RENEWAL MINISTRIES STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31[ST] DECEMBER 2024**
**(2023 comparative figures)**
|**Incoming Resources**
**Note**
_Incoming resources from generated_
_funds:_
Voluntary income
- Regular Giving from Supporters
- One off Donations from Supporters
- Fees and Donations from Bookings
- Gift Aid
- Trust Grants
- Legacies
Investment income
_Incoming resources from charitable_
_activities:_
Other income
**Total Incoming Resources**
**Resources Expended**
_Charitable activities:_
Office costs
Communications
Travel & subsistence
Salaries and pensions
3
Other
Professional and consultants
_Governance costs:_
Accountancy
Financing
**Total Resources Expended**
**Net Movement in Funds**
_Reconciliation of Funds_
Funds as at 1st January 2023
Funds as at 31st December 2023|**Unrestricted**
**Funds**
**£**
**Restricted**
**Funds**
**£**
**Total**
**Funds**
**2023**
**£**
**Total**
**Funds**
**2022**
**£**
57,924
-
57,924
53,791
61,012
248
61,260
78,792
22,526
-
22,526
15,210
13,276
-
13,276
15,340
7,700
22,400
30,100
37,250
10,726
-
10,726
31,488
938
-
938
429
6,796
-
6,796
3,398|
|---|---|
||180,898
22,648
203,546
235,698|
||12,311
-
12,311
13,873
15,434
563
15,997
15,808
13,805
3,157
16,962
11,060
114,365
27,181
141,546
125,328
7,167
1,535
8,702
10,533
1,055
212
1,267
4,615
3,500
-
3,500
3,728
60
-
60
94|
||167,697
32,648
200,345
185,039|
|||
||13,201
(10,000)
3,201
50,659
57,603
30,790
88,393
37,734
70,804
20,790
91,594
88,393|
**10**
## **RESOURCE FOR ANGLICAN RENEWAL MINISTRIES BALANCE SHEET AT 31[ST] DECEMBER 2024**
|**Note**
Fixed Assets
Tangible Fixed Assets
5
Current Assets
Debtors
6
Short Term Deposits
Cash at Bank and in Hand
Creditors: Amounts falling due within
one year
7
Pension scheme liability
8
Net Current Assets
Net Assets
Funds
Unrestricted Funds
9
Restricted Funds
10|**Unrestricted**
**Funds**
**£**
**Restricted**
**Funds**
**£**
**Total**
**Funds**
**2024**
**£**
**Total**
**Funds**
**2023**
**£**
-
-
-
-
6,012
-
6,012
8,237
64,722
-
64,722
55,434
24,723
10,794
35,517
33,113|
|---|---|
||95,457
10,794
106,251
96,784
(5,494)
-
(5,494)
(5,190)
-
-
-
-|
||89,963
10,794
100,757
91,594|
||89,963
10,794
100,757
91,594|
||89,963
-
89,963
70,804
-
10,794
10,794
20,790|
||89,963
10,794
100,757
91,594|
Approved by the Board of Trustees on 30[th] April 2025 and signed on its behalf by:
_______________________
The Rt Revd John Holbrook, Chair of Trustees
**11**
## **RESOURCE FOR ANGLICAN RENEWAL MINISTRIES NOTES ON FINANCIAL STATEMENTS 31[ST] DECEMBER 2024**
## **1 Accounting Policies**
## General information
ReSource for Anglican Renewal Ministries is a Charitable Incorporated Organisation (CIO), incorporated in England and Wales. The address of the registered office is given in the charity information on page 1 of these financial statements.
## Basis of preparation
The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note to these financial statements, and in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) published in October 2019, the Financial Reporting standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and with the Charities Act 2011.
The Charity has applied Update Bulletin 2 and does not include a cash flow statement on the grounds that it is applying FRS 102 Section 1A.
The charity constitutes a public benefit entity as defined by FRS 102.
The financial statements are prepared in sterling, which is the functional currency of the entity.
## Going Concern
The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.
## Judgement and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
## Fund Accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in the furtherance of the general objectives of the charity and which have not been designated for other purposes.
Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
**12**
## **RESOURCE FOR ANGLICAN RENEWAL MINISTRIES NOTES ON FINANCIAL STATEMENTS 31[ST] DECEMBER 2024**
## **1 Accounting Policies (Continued)**
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific funds.
## Fixed Assets
Fixed assets are capitalised and depreciation is provided at rates calculated to write off the cost on a straight line basis over their expected useful economic lives as follows:
Office and computer equipment
Over 3 years
## Gifted Assets
Gifts of fixed assets are capitalised and included in the appropriate fixed asset category. The value of such assets is included in income in the period in which the gift is received.
## Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
Debt instruments are subsequently measured at amortised cost
## Incoming Resources
All incoming resources are included in the SOFA when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. For legacies, entitlement is the earlier of the charity being notified of an impending distribution or the legacy being received.
## Resources Expended
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably.
**13**
# **RESOURCE FOR ANGLICAN RENEWAL MINISTRIES NOTES ON FINANCIAL STATEMENTS 31[ST] DECEMBER 2024**
## **1 Accounting Policies (Continued)**
## Pensions
The charity contributes to the personal pension plans of its employees.
## Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business of the charity. Accounts payable are classified as current liabilities if the charity does not have an unconditional right at the end of the reporting period to defer settlement of the creditor for at least twelve months after the reporting date, otherwise they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
## **2 Trustees Remuneration**
No remuneration was paid in the year.
Expenses of £1,331 (2023: 1,646) were incurred for travel in the course of the charity’s work and were reimbursed to the trustees.
## **3 Staff costs**
|Wages and salaries
Social security costs
Pension costs|**2024**
131,482
4,680
11,632
147,794|**2023**
127,848
3,625
10,073|
|---|---|---|
|||141,546|
The number of employees who received total employee benefits (excluding employer pension cost of more than £60,000 is as follows:
|£60,001 - £70,000|**2024**
**Number**
1
1|**2023**
**number**
1
1|
|---|---|---|
The average number of employees was 7 (2023: 7).
There are 27 voluntary ReSource Ministers (2023: 24) this number includes 3 staff, of whom 2 are also Alongside Companions and 13 Alongside Companions, of whom 1 is also an Intercessor; 96 voluntary Alongside Companions (2023: 62) this number includes 2 staff (who are also ReSource Ministers), 2 trustees and 13 ReSource Ministers, these volunteers all make a significant contribution to the charitable activities of ReSource. There are also 32 (2023: 30) volunteer Intercessors, this number includes 1 staff, 6 Alongside Companions and 1 ReSource Minister, who pray regularly for the work of the CIO.
**14**
## **RESOURCE FOR ANGLICAN RENEWAL MINISTRIES NOTES ON FINANCIAL STATEMENTS 31[ST] DECEMBER 2024**
## **4 Independent Examiners Remuneration**
|Independent Examiners Remuneration
Other services
(including VAT at 20%)
**5**
**Tangible fixed assets**
Cost
At 1st January 2024
Disposals
At 31st December 2024
Accumulated depreciation
At 1st January 2024
Eliminated on disposal
At 31st December 2024
Net book value
At 31st December 2024
At 31st December 2023
**6**
**Debtors**
Trade debtors
Tax recoverable
Prepayments|**2024**
**2023**
720
660
2,982
2,840
3,702
3,500
**Office**
**equipment,**
**furniture &**
**fittings**
**Total**
11,363
11,363
-
-
-
-
11,363
11,363
-
-
-
-
-
-
-
-
**2024**
**2023**
126
383
3,830
2,662
2,056
5,192
6,012
8,237|**2024**
**2023**
720
660
2,982
2,840
3,702
3,500
**Office**
**equipment,**
**furniture &**
**fittings**
**Total**
11,363
11,363
-
-
-
-
11,363
11,363
-
-
-
-
-
-
-
-
**2024**
**2023**
126
383
3,830
2,662
2,056
5,192
6,012
8,237|
|---|---|---|
||||
||||
|||-|
|||-|
|||-|
|||**2024**
126
3,830
2,056
6,012|
**15**
## **RESOURCE FOR ANGLICAN RENEWAL MINISTRIES NOTES ON FINANCIAL STATEMENTS 31[ST] DECEMBER 2024**
## **7 Creditors**
|**reditors**|||
|---|---|---|
|Trade creditors
Accruals|**2024**
2,438
3,056
5,494|**2023**
2,098
3,092|
|||5,190|
## **8 Pensions**
Resource for Anglican Renewal Ministries participates in the Church of England Funded Pensions Scheme for stipendiary clergy, a defined benefit pension scheme. This scheme is administered by the Church of England Pensions Board, which holds the assets of the schemes separately from those of the Responsible Bodies.
Each participating Responsible Body in the scheme pays contributions at a common contribution rate applied to pensionable stipends.
The scheme is considered to be a multi-employer scheme as described in Section 28 of FRS 102. This means it is not possible to attribute the Scheme’s assets and liabilities to specific Responsible Body, and this means contributions are accounted for as if the Scheme were a defined contribution scheme. The pensions costs charged to the SOFA in the year are contributions payable towards benefits and expenses accrued in that year (2024: £8,414, 2023: £8,814), plus the figures highlighted in the table below as being recognised in the SOFA, giving a total charge of £8,414 for 2024 (2023: £8,814).
A valuation of the Scheme is carried out once every three years. The most recent Scheme valuation completed was carried out at as 31 December 2021. The 2021 valuation revealed a surplus of £560m, based on assets of £2,720m and a funding target of £2,160m, assessed using the following assumptions:
- An average discount rate of 2.7% p.a.;
- RPI inflation of 3.6% p.a. (and pension increases consistent with this);
- CPIH inflation in line with RPI less 0.8% pre 2030 moving to RPI with no adjustment from 2030 onwards;
- Increase in pensionable stipends in line with CPIH;
- Mortality in accordance with 90% of the S3NA tables, with allowance for improvements in mortality rates from 2013 in line with the CMI2020 extended model with a long term annual rate of improvement of 1.5%, a smoothing parameter of 7, an initial addition to mortality improvements of 0.5% pa and an allowance for 2020 data of 0% (i.e. w2020 = 0%).
**16**
**RESOURCE FOR ANGLICAN RENEWAL MINISTRIES NOTES ON FINANCIAL STATEMENTS 31[ST] DECEMBER 2024**
## **8 Pensions (continued)**
Following finalisation of the 31 December 2021 valuation, deficit contributions ceased with effect from January 2023, since the scheme was fully funded.
The deficit recover contributions under the recovery plan in force at each 31 December were as follows:
||% of pensionable stipends|
|---|---|
|31 December 2021|7.1% payable from January 2021 to December 2022|
|31 December 2022|Nil|
|31 December 2023|Nil|
|31 December 2024|Nil|
An interim reduction to deficit contributions to 3.2% of pensionable stipends was made with effect from April 2022 and remained in place until December 2022.
For senior office holders, pensionable stipends are adjusted in the calculations by a multiple, as set out in the Scheme’s rules.
Section 28.11A of FRS 102 requires agreed deficit recovery payments to be recognised as a liability. However, as there are no agreed deficit recovery payments from 1 January 2023 onwards, the balance sheet liability as at 31 December 2023 and 2024 is nil. The movement in the balance sheet liability over 2023 and over 2024 is set out in the table below.
||**2024**|**2023**|
|---|---|---|
|Balance sheet liability at 1 January|-|-|
|Deficit contribution paid|-|-|
|Interest cost (recognised in SoFA)|-|-|
|Remaining change to the balance sheet|-|-|
|liability* (recognised in SoFA)|||
|Balance sheet liability at 31 December|-|-|
* Comprises change in agreed deficit recovery plan and change in discount rate and assumptions between year-ends.
The legal structure of the scheme is such that if another Responsible Body fails, Resource for Anglican Renewal Ministries could become responsible for paying a share of that Responsible Body’s pension liabilities
**17**
## **RESOURCE FOR ANGLICAN RENEWAL MINISTRIES NOTES ON FINANCIAL STATEMENTS 31[ST] DECEMBER 2024**
## **9 Unrestricted funds**
|General Fund|**Opening**
**Balance**
**Incoming**
**Funds**
**Outgoing**
**Funds**
**Gains/**
**(Losses)**
**Transfers**
**Closing**
**balance**
**£**
**£**
**£**
**£**
**£**
**£**|
|---|---|
||70,804
207,506
(188,347)
-
-
89,963|
||70,804
207,506
(188,347)
-
-
89,963|
## **10 Restricted funds**
|Alongside Fund
Sanctuary Days
Fund|**Opening**
**Balance**
**Incoming**
**Funds**
**Outgoing**
**Funds**
**Gains/**
**(Losses)**
**Transfers**
**Closing**
**balance**
**£**
**£**
**£**
**£**
**£**
**£**|
|---|---|
||20,000
47,114
(57,114)
-
-
10,000
790
120
(116)
-
-
794|
||20,790
47,234
(57,230)
-
-
10,794|
The Alongside fund is for running the Alongside Scheme which provides personal prayer and pastoral support to church leaders nationwide, on a confidential basis. £30,000 income received in December 2022 is to be spent over a period of 36 months from 1[st] January 2023 to 31[st] December 2025.
The Sanctuary Day fund is for the running of Sanctuary Days in local churches that would not otherwise be able to cover the costs themselves.
## **11 Linked charity**
ReSource for Anglican Renewal Ministries is linked with a Trust of the same name (charity number 1180394-1). During the year under review no income or expenses arose in the Trust. At 31 December 2024 the Trust had no assets or liabilities.