2021-12-31-accounts - Central Readers' Council

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		Page	Page
Statementoffinancialactivities(SOFA)		2
Balancesheet		3
Notestothe accounts
Accounting poIicies	4	4 (a),	(b
AnalysisofSOFA		5
Analysisof delegatedfunds		6
Analysisof designatedfunds		7
lnvestmentsandTrusteenotes		8
lndependentExaminer'sreporttotheTrustees		9

CENTRALREADERSCG.INCIL CIO STATEMENT OFFINANCIAL ACTIVITIES	CENTRALREADERSCG.INCIL CIO STATEMENT OFFINANCIAL ACTIVITIES	CENTRALREADERSCG.INCIL CIO STATEMENT OFFINANCIAL ACTIVITIES	CENTRALREADERSCG.INCIL CIO STATEMENT OFFINANCIAL ACTIVITIES	CENTRALREADERSCG.INCIL CIO STATEMENT OFFINANCIAL ACTIVITIES
FORIHEYEAREI{DED3lSTDECEilIBER2021
		Unrestricted		Restr'lcted		Total	Total
	Note		funds	fun&		202L	2020
		fff				f	f
INCOMINGRESOURCES	2
Voluntarylncome
Diocesancontributions			17,008		0	17,AOB18,003
Generatedlncome
MagazineandWebsite lncome		68,409			0	58,409	68,1"54
AGM/Conferencelncome			0		0	0	0
Sundrysales		2,000			0	2,000	1,195
			70,449			70,40969,349
Otherincome			4t		0	4L	1.74
Donationsreceived			50		0	50	1",228
lnvestmentlncome			t4L 4		0	1.4L 4	4 672
Totallncome			9L,649		0	9L,649	93,426
Add:Saleof shares			35,000		0	35,000	26,4A2
TOTAIINCOM INGRESOURCES			126,649		o	126,649	119,828
RESOURCESEI(PENDS)	2
CostofGeneratingFunds
Fundraising costs			0		0	0	0
CostofGeneratedlncome
Magazineand Website costs			65,893		0	65,893	68,854
AGM/Conference costs			0		0	0	0
Costof sundrysales			1,,874		0	L,874	L,t19
			67,767		0	67,76769,973
Othe rCharitableActivities
Trainingproject			0		0	0	22,955
2019website			115		0	115	L,115
Subscriptionswebsite/database			20,463		0	20,463	3,887
General			4,5L6		0	4,5L6	5,911
Grants made			2,25A		0	2,250	3,742
			27,344		0	27,34436,870
Governancecosts			!2,836		0	L2,8368,835
TOTALRESOURCES USED			1_07,947		0	Lo7,g47	3.L5,678
NETRESOURCES			]-8,702		0	18,7424,L50
UNREALISEDGAINS
lncrease in value ofinvestments			L6,876		0	L6,876	9,995
			35,578		0	35,578	T4,L45
Less:Sharessold			-31,806		0	-31,806	-26,442
FUNDSasatlstJANUARY2021			L90,795		0	L90,795	203,O52
FUNDS AT 31ST DECEMBER2021			194,567		0	194,567	!90,795

		2A21 e.	2A21 e.	c. o	E 20/20 t. 0
fDlEASSEIS-Tangiblefiredasssts
LOrcrBntl]WEiIIt'165t CBFlnvetmentFund Shares				L34,244	L0g,t7S
' (atmarketbidvalue)(IrloteT)
cunnEUrASSEIS Stock Sundrydebtors CBFGeneralFund D€PoCtAy'C CBFAdamsMYlandDepoitA/C C,AFBankCurrentAy'C CAFEankDePosit A/C		,,120 5,2t4 25,140 19,319 2,O28 6,377 61,198			4,994 2,512 3,L6O 18,(X)1 9,226 4,386 42,369
LEr*cunnglrln8lullEt Creditors		875		t	719 41,624
				194567	190,795
TTETASSETS
FINANCETIBY:
Unrestrictedfunds CaPitalfund Unrealisedstlrptusoninrstments		L2'483 110'567	-	123,O50	137,981 12,483 125,498
lncomefunds
General	(note2l	6,200			4,074
D€legil€dFunds	(lrote3l	4,O24			1,503
MylandandAdams	{t{ote4}	44,985			44,148
Spacial	{Notc4}	16,312			3rO89
				71,517	52,814
TOTATFUT{DS				194,567	190,795

Liability recognition	Liabilitiesarerecognisedassoonasthereisalegalor
	constructiveobligation committingthe charitytopayout
	resources.
Governancecosts	lncludecostsof thepreparationandexaminationofstatutory
	accounts,thecostsofExecutiveCommittee meetingq
	offcersexpenses andanylegaladvicetothetrusteeson
	governanceorconstitutionalmatters.
Grantspayablewithout	Theseareonlyrecognisedin the accountswhena
performanceconditions	commitmenthasbeen madeandtherearenoconditions
	tobemetrelatingto thegrant whichremains inthe
	controlofthecharity.
ASSETS
lnvestments	lnvestments quoted onarecognised stock exchangeare
	valued at market valueattheyearend.
Stocks	Thesearevalued atthe lowerofcostor netrealisable
	value.

2.Analysis ofStatementof Financia	lActivities	lActivities
	GeneralDelegated funds funds		Designated funds	202r.	2020
		(Note3)	(Note 4)
lncome
Diocesancontributions	L7,AO8			L7,OA8	18,003
Salesof merchandise	2,000			2,000	1,195
ReaderMagazinelncome		68,409		68,409	68,t54
Donationsreceived (Note )	50			50	1,228
lnterestetc received	1,054		3,087	4,L41	4,672
Other income	41.			47	L74
Totallncome	20,153	68,409	3,087	9L,649	93,426
AddSaleofshares			35,000	35,000	26,402
	20,L53	68,4A9	38,087L26,649		LLg,828
Expenditure
Salaries	Ll,972	2,389		L4,36L	29,569
Professionalfees		6,030	L,200	7,23O	7,524
Officersexpenses	863	471,		L,334	L,L41
AGM				0	0
ExecutiveCommittee				0	L,966
Other committeemeetings				0	0
Trainingresourceproject				0	5,722
Magazineproductioncosts				0	57,633
Legacytechnology costs		55,801		55,801	1,050
2019website			1_15	1_15	1,,LLs
Subscriptions web site			20,462	20,462	2,547
Subscriptionsdatabase		L,OA2		1.,O02	2,2O9
Costof merchandise sold	7,874			7,874	1,,LLg
Grants made			2,250	2,250	3,LO2
Independentexaminerfee	100			100	100
Adminexpenses	3,2L7	2AO		3,4t7	92L
Totalexpenditure	18,A26	65,893	24,427L07,946		1,15,679
Surplus(Deficit) fortheyear	2,L27	2,516	14,060	18,703	4,150
Transfer betweenfunds	o	0	0	0	0
Balancesbroughtforward	4,074	1,503	47,237	52,81.4	48,664
Balancescarriedforward	6,20L	4,0L9	6L,297	71,5!7	52,974
Unrealisedsurplusoninvestments
Asat1stJanuary2OZt	32,395	0	93,103725,498		135,892
RealisedonSaleofshares	-31,806			-31,806	-20,389
lncreasein valueduringyear	1,694		L5,782	1.6,876	9,995
Asat 31stDecember2021	2,283	0	108,285110,568		L25,498

TheEditorialandWebsitecommitteeshav knownasCommunications Summaryofthe threesubcommittees:	e beenamalgamated	intoonefund
	Communicat
	ions	Conference	?OZL	2020
lncome
Magazi nesubscriptions	54,632		54,632	56,807
Magazineadvertising	73,777		L3,777	LL,347
	68,409	0	68,409	68,L54
Expenditure
Salarycosts	2,399	0	2,389	2,843
Officersexpenses	47L	o	471	246
Professionalfees	6,030	0	6,030	6,190
Magazineproductioncosts	55,801	0	55,801	57,633
Meetings	0	0	0	0
Subscriptionsdatabasemaintenance	1.,OO2	0	t,002	829
Cardhandlingfees	200	0	200	63
	65,893	0	65,893	67,804
Magazi nesurpl us/(deficit)	2,516	0	2,51.6	350
Less: Legacytechnology	0	0	0	1,050
tncrease(Decrease)	2,516	0	2,516	(700)
Transfer	0	o	0	0
BalancesatlstJanuary	1,503	0	1,503	2,203
Balancesat31stDecember	4,0L9	0	4,019	1,503

	Mylandand			Total
	Adams	Special		202L
lncome
lnvestment	3,087			3,487
Donationsfromdioceses				0
Proceedsfrom thesaleof shares			35,000	35,000
	3,087		35,000	38,087
Expenditure
Grants made	2,254			2,250
Trainingproject			1,200	l,2oo
2019website			115	115
Subscriptionsdatabase			20,462	20,462
Subscriptionswebsite	2,250		27,777	0 24,027
Netincomebefore transfers	837		L3,223	14,A6A
Transfers
	837		L3,2Z3	14,060
BalanceatlstJanuary	44,L48		3,089	47,237
Balanceat3LstDecember	44,985		1-6,31-2	6L,297

(Thesenot 4. DesignatedFunds(continued)	esformpartoftheAcc	ounts)
	Myland/			Total
	Adams	Special		2021	2020
Capital lnvestment
Originalinvestment	12,483			!2,483	L8,496
Saleofsharesatcost	0			0	6,013
Investment carriedforward	72,483		0	72,4831,2,483
Changein market value
to lstJanuary	93,103		0	93,103	LO6,3L2
Realisedsurplusonshares	0			0	-20,389
lncrease(decrease)intheyear At 31stDecember	15 1.82 748,285		0	15 182 108,285	7 180 93,103
lnvestment value
asat 31stDecember	L20,768		0	!20,768	105,586

TheCentralReadersCouncil employed3 members ofstaffonaparttime	basisuntil
May202L whenapaid treasurerwasappointed.I2OZA-4),. 202L	2020
Salaries L4,632	29,569