2023-12-31-accounts - Central Readers' Council

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						CENTRAL READERS	CENTRAL READERS	CENTRAL READERS	CENTRAL READERS	COUNCIL	CIO
				STATEMENT OF FINANCIAL ACTIVITIES
		FOR			THE			YEAR ENDED 31STDECEMBER 2023
									Unrestricted		Restricted		Total	Total
							Note			funds	funds		2023	2022
									E		E E		E	E
INCOMING	RESOURCES							2
	Voluntary Income Diocesan contributions										21,075	0	21,075	19,913
	Generated Income
	Magazine and Website			Income					61,419			0	61,419	59,629
	Sundry sales								1,839			0	1839	1 843
											63,258		63,258	61,472
	Donations received										71,790	0	71,790	118
	Investment Income										6,137	0	6,137	3,848
	Totallncome										162,260	0	162,260	85,351
TOTAL INCOMING RESOURCES											162,260	0	162,260	85,351
RESOURCES EXPENDED								2
	Cost of Generating		Funds
	Fundraising				costs
	Cost ofGenerated	Income
	Magazine		and				Website costs				67,378	0	67,378	63,585
	Cost of	sundry					sales				1,407	0	1,407	885
											68,785	0	68,785	64,470
	Other Charitable Activities
	Educational					Modules					433		433	0
	Subscriptions						web site/database				22,990		22,990	4,380
	General										0		0	3,885
	Grants	made									1,150		1,150	2,250
											24,573	0	24,573	10,515
	Governance costs										23,795	0	23,795	16,858
TOTAL RESOURCES USED											117,153	0	117,153	91,843
NET RESOURCES											45,107	0	45,107	(6,492)
UNREALISED GAINS
	(Decrease) / Increase			in		value ofinvestments					11,249	0	11,249	(15,732)
											56,356	0	56,356	(22,224)
FUNDS as	at 1stJANUARY 2023										150,921	0	150,921	173,145
FUNDS AT 31STDECEMBER 2023											207,277	0	207,277	150,921

INCOMING	RESOURCES
Recognition	ofincoming	These	are included in the Statement of	Financial Activities		(SOFA)
resources		when:	.
		1 the	charity becomes entitled to the resources;
		2 the	trustees are virtually certain they	will receive the	resources;
		and
		3 the	monetary value can be measured	with sufficient	reliability.
Incoming resources with related expenditure		Where incoming resources have related expenditure (as with fundraising or contract income) the incoming resources and related expenditure are reported gross in the SOFA.
Grants and	donations	Grants	and donations are only included	in the SOFA when		the charity
		has unconditional entitlement to the resources.
		The value of any voluntary help received		is not included	in	the
		accounts but is described in the trustees'		annual report.
Investment	income	This is	included in the accounts when received.
		This includes any gain or loss on the sale		of investments	and any gain
Investment	gains and losses	or loss	resulting from revaluing investments to market value at the
		end of	the year.
			4 (a)

			CENTRAL READERS'	COUNCIL
		Notes to	the Accounts for the Year	to 31st December 2023
			(These notes form part of	the Accounts)
EXPENDITURE		AND LIABILITIES
Liability recognition			Liabilities are recognised	as soon as there is a legal		or
			constructive obligation	committing the charity to		pay	out
			resources.
Governance	costs		Include costs ofthe preparation and examination			ofstatutory
			accounts, the costs of Executive Committee meetings,
			officers expenses and any legal advice to the trustees				on
			governance or constitutional matters.
Grants payable without			These are only recognised in the accounts when		a
performance		conditions	commitment has been made and there are no conditions
			to be met relating to the grant which remains in		the
			control ofthe charity.
ASSETS
Investments			investments quoted on	a recognised stock exchange			are
			valued at market value	at the year end.
Stocks			These are valued at the	lower ofcost or net realisable
			value.

2.Analysis ofStatement of Financia	l Activities
	General	Delegated		Designated
	funds	funds		funds	2023	2022
		(Note	3)	(Note 4)
Income
Diocesan contributions	21,075				21,075	19,913
Sales ofmerchandise	1,839				1,839	1,843
Reader Magazine Income		61	3c4		61,354	59,629
Donations received (Note 4)	71,572			219	71,790	118
Interest etc received	1,793			4,344	6,137	3,848
Otherincome	65				65	0
Totallncome	96,343	61,354		4,563	162,260	85,351
	96,343	61,354		4,563	162,260	85,351
Expenditure
Salaries	19,211		167		19,378	14,628
Professional fees		8,780			8,780	7,315
Officers' expenses	399				399	2,715
Executive Committee	2,612				2,612	2,560
Other committee meetings			391		391	954
Educational Modules	433				433	0
Magazine production costs		53,148			53,148	53,089
Subscriptions web site	4,808				4,808	3,156
Subscriptions database				22,990	22,990	1,224
Cost of merchandise sold	1,492				1,492	885
Grants made				1,150	1,150	2,250
Independent examiner fee					0	100
Admin expenses	1,573				1,573	2,701
Depreciation					0	266
Tota I expenditure	30,528	62,485		24,140	117,153	91,843
Surplus (Deficit) for the year	65,815	(1,131)		(19,577)	45,107	(6,492)
Transfer between funds	0		0	0	0	0
Balances brought forward	8,185	(1,161)		58,001	65,025	71,517
Balances carried forward	74,000	(2,292)		38,424	110,132	65,025
Unrealised surplus on investments
As at 1st January 2023	704		0	94,132	94,836	110,568
Change in value during year	1,130			10,119	11,249	(15,732)
As at 31st December 2023	1,834		0	104,251	106,085	94,836

4.Designated Funds	(These notes (continued)	form part ofthe Acc	ounts)
		Adams-			Total	Total
		Myland	Special		2023	2022
Capital Investment
Original investment		12,483			12,483	12,483
Sale ofshares at cost		0			0	0
Investment carried forward		12,483		0	12,483	12,483
Change in market value
to 1stJanuary		94,132		0	94,132	108,285
Realised surplus on	shares	0			0	0
Increase (decrease)	in the year	10,119			10,119	(14,153)
At 31st December		104 2c1		0	104,251	94,132
Investment value
as at 31st December		116,734		0	116,734	106,615

	2023		2022
Salaries & Nationallnsurance	19,378		14,628
7.Investments
	Designated	General	Total	Total
	funds	fund	2023	2022
At 1st January	106,615	11,898	118,513	134,245
(Decrease) / Increase during year	10,119	1,130	11,249	(15,732)
At 31st December	116,734	13,028	129,762	118,513