## ## ## ## ## |Ex-officio:||The Master|||||| |---|---|---|---|---|---|---|---| |||The Incumbent
ofthe present benefice|ofBenson|with Ewelme|||| |||The Lord ofthe Manor of Ewelme (Vacant)|||||| |Co-opted:||Mrs
I Birch Reynardson
(serving 5years from April||2020)|||| |||The Countess of Buckinghamshire
(resigned October 2022)|||||| |||P W Chamberlain
(serving 5years from|November|2022)|||| |||K LCooper (serving 5years from April|2020)||||| |||P H 8Gosset (serving 5years from November 2022)|||||| |||Mrs V M Stattersfield
(serving 5years from 2021)|||||| |Principal address:||126 High Street Oxford|||||| |Trust Manager:||J A Oliver (until July 2022), M Winram|(June-November||2022) A|Saunders|(from| |||February 2023)|||||| |Receiver to|the Trustees:|AJ Robson|||||| |Auditor:||Wenn Townsend,
30StGiles, Oxford|||||| |Agents:||Sidleys, 6 King Edward Street, Oxford|||||| |Solicitors:||HMG Law LLP, 126 High Street, Oxford|||||| |Bankers:||Barclays Bank pic Cornmarket
Street, Oxford|||||| |Investment|advisors:|Cazenove
Capital
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(part|of the Schroders||Group),|12 Moorgate|| |||London|||||| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ||||m w 4l
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0I-| ## |||||||God's House
in Ewe|God's House
in Ewe|lme||| |---|---|---|---|---|---|---|---|---|---|---| |||||||Balance Sheet||||| |||||||as at31st|December|2022||| |||||||||2022||2021| |||||||Note||||| |Fixed assets||||||||||| |Tangible assets||||||11||3,219,011||3,219,011| |Investment
properties||||||12||29,448,589||29,315,133| |Quoted investments||||||12||8,969,356||10,013,741| |||||||||41,636,956||42,547,885| |Current assets||||||||||| |Debtors|||||||164,798||169,750|| |Bank deposit accounts|||||||129,195||128,414|| |Bank current accounts|||and|petty cash|||42,272||60,311|| |Due from Ewelme||Exhibition|||Endowment||7,105|||| ||||||||343,370||358,475|| |Current
liabilities||||||||||| |Due to Ewelme
Other creditors|Exhibition|||Endowment||5
10|(85,255)||(864)
(94,274)|| ||||||||(85,255)||(95,138)|| |Net current assets||||||||258,115||263,337| |Net assets||||||||41,895,071||42,811,222| |Represented
by:||||||||||| |Permanent
endowment|||funds|||13||40,597,878||41,074,759| |Unrestricted
funds||||||14||1,297,193||1,736,463| |||||||||41,895,071||42,811,222| ## ||||||2022||2021| |---|---|---|---|---|---|---|---| |Net cash used in operating|activities (note 18)||||(626,665)||(462,226)| |Cash flow from investing|activities:||||||| |Interest and dividends||||220,264||253,307|| |Proceeds from sale of investments||||4,294,639||1,604,056|| |Purchase
of investments||||(3,905,496)||(2,260,175)|| |Net cash (used in)/provided|by investing||activities||609,407||(402,812)| |Change
in cash and cash equivalents||in the|year||(17,258)||(865,038)| |Cash and cash equivalents|brought|forward|||188,725||1,053,763| |Cash and cash equivalents|carried|forward|||171,467||188,725| ## ## ## ## ## ## ## ## ## ## ## ## ## ## |Upkeep and maintenance
ofAlmshouses
and the So|uth Aisle and St.John's Chape|l of Ewelme| |---|---|---| ||2022f|2021f| |Council tax, water rates and insurance|17,868|24,889| |Repairs|76,333|69,744| |Fuel oil|47,707|30,623| |Electricity|23,365|13,754| |Cleaning|6,115|2,099| |Garden upkeep|27,427|36,675| ||198,815|177,784| ## ## ## |Expenditur|e
on Almsm|en's
Account||| |---|---|---|---|---| ||||2022|2021| |Attendance|on almsmen||17,351|17,122| |Chaplain's|salary||7,000|6,000| |Telephone|||2,940|2,924| |Sundry expenses|||1,362|582| ||||28,653|26,628| |Expenses|ofproperties|||| ||||2022|2021| |Repairs and maintenance|||467,219|192,826| |Professional|charges re|repairs and maintenance|46,098|23,805| |Receiver's|management|fees and expenses|110,103|92,229| |Insurance|||60,785|60,931| |Rates, heat|and light||12,677|12,310| |Other professional
charges|||30,123|57,283| |Bad debts|||(785)|3,552| ||||726,220|442,936| ## ||||||||2022|2021| |---|---|---|---|---|---|---|---|---| ||Annual|grant payable|to the Ewelme||Exhibition|Endowment|270,000|270,000| ||Amount|paid
in year|||||(270,000)|(270,000)| ||Amount|outstanding|at beginning|of|year||864|5,856| ||Administrative
salary||paid||||(7,969)|(4,992)| ||Total due at 31stDecember 2022||||||(7,105)|864| |6.|Grants|and Donations||||||| ||||||||2022|2021| ||Grants|and donations|include the following:|||||| ||The Millstream
Day Centre
Other under f1,000||||||11,000
105|807| ||||||||11,105|807| ## |7.|Support and gover|nance
cost|s||||||| |---|---|---|---|---|---|---|---|---|---| ||||||||2022f||2021f| ||The breakdown
ofsupport costs||and governance||costs is:||||| ||Support costs||||||||| ||Trust manager's
salary including||Social|Security||12,046||10,911|| ||Sundry expenses|||||9,033||2,039|| ||||||||21,079||12,950| ||Governance costs||||||||| ||Trust manager's
salary including||Social|Security||28,107||25,459|| ||Auditor's fees
- audit|||||12,948||11,742|| ||— non audit|||||3,600||3,600|| ||Master's expenses|||||||500|| ||Trustees'
indemnity|insurance||||3,315||3,449|| ||||||||47,970||44,750| ||Total costs, all allocated to charitable|||activities|||69,049||57,700| |8.|Total staff costs||||||||| ||||||||2022||2021f| ||Salaries and wages||||||63,674||58,680| ||Social security costs||||||829||812| ||Total staff costs||||||64,503||59,492| ## |9.|Debtors||||||| |---|---|---|---|---|---|---|---| |||||||2022|2021| ||Rents and maintenance||contributions||receivable|99,994|91,385| ||Prepayments|and accrued income||||64,804|77,786| ||Other debtors||||||579| |||||||164,798|169,750| |10.|Creditors: due|within one year|||||| |||||||2022|2021| ||Repairs to property|||||9,808|23,628| ||Accruals and deferred||income|||74,719|54,307| ||Surveyors'
fees and professional|||charges||132|14,867| ||Other creditors|||||596|1,472| |||||||82,255|94,274| |11.|Tangible fixed|assets|||||| |||||||2022|2021| |||||||Freehold|Freehold| |||||||propertyf|property| ||Value at 1stJanuary 2022 and 31stDecember 2022|||||3,219,011|3,219,011| ||Historical cost at 31st December|||2022||250,183|250,183| ## ## ## |d asset investments|d asset investments|||||| |---|---|---|---|---|---|---| |God's House in Ewelme -Charity||||2022||2021| |Quoted investments||||||| |Market value at 1stJanuary 2022|||10,013,741||8,532,882|| |Additions
at cost|||3,689,446||2,117,353|| |Increase)/(decrease)|in market value||(532,737)||947,770|| |Disposal proceeds
Loss on disposal
Increase/(decrease)|in cash pending|investments|(4,294,639)
10,951
82,594||(1,604,056)
(34,300)
54,092|| |Market value at 31st|December 2022|||8,969,356||10,013,741| |Investment
properties||||||| |Market value at 1stJanuary 2022|||29,315,133||29,226,403|| |Additions|||133,456||88,730|| |Disposal proceeds (less costs to sell)||||||| |Gain on disposal (less costs to sell)||||||| |Market value at 31st|December 2022|||29,448,589||29,315,133| |Total||||38,417,945||39,328,874| ## |||||Permanent| |---|---|---|---|---| |||||Endowment| |||||Fundf| |Balance
Increase
Loss on|at 1stJanuary 2022
in market value ofquoted
investments
disposal ofquoted
investments|||41,074,759
(487,832)
10,951| |Balance|at 31stDecember|2022||40,597,878| |Balance
Increase
Loss on|at 1stJanuary 2021
in market value of quoted
investments
disposal ofquoted
investments|||40,232,792
876,267
(34,300)| |Balance|at 31stDecember|2021||41,074,759| ## ## |investments,
investment
properties
and|fixed assets) as f|ollows:-||| |---|---|---|---|---| |||2022||2021| |Permanent
endowment||||| |Quoted
investments
Investment
properties
Fixed assets|f
f|582,821
26,024,410
2,968,828|f
f
f|1,427,376
26,024,410
2,968,828| ## |Unrestricted
funds||||| |---|---|---|---|---| ||||Extraordinary|| ||||repair and|| |||General|restoration|2022| |||fundf|fundf|Totalf| |Balance at 1stJanuary 2022||1,486,463|250,000|1,736,463| |Deficit for the year||(394,364)||(394,364)| |(Decrease)/increase|in market value ofquoted|||| |investments||(36,194)|(8,712)|(44,906)| |Transfer offunds||(8,712)|8,712|| |Balance at 31stDecember 2022||1,047,193|250,000|1,297,193| |||Extraordinary|| |---|---|---|---| |||repair and|| ||General|restoration|2021| ||fundf|fundf|Totalf| |Balance at 1stJanuary 2021|1,485,275|250,000|1,735,275| |Deficit for the year|(70,315)||(70,315)| |Increase
in market value ofquoted|||| |investments|61,202|10,301|71,503| |Transfer offunds|10,301|(10,301)|| |Balance at 31stDecember 2021|1,486,463|250,000|1,736,463| ## ## ## ||||||Endowment|Unapplied|Total| |---|---|---|---|---|---|---|---| ||||||for|total|endowment| ||||||investment|return|| |At 1stJanuary||2022:|||||| |Gift component||of permanent||endowment|6,018,576||6,018,576| |Unapplied|total|return|brought|forward||2,522,039|2,522,039| ||||||6,018,576|2,522,039|8,540,615| |Movements:|||||||| |Gains on|investment||values|||(476,881)|(476,881)| |Transfers|out||||(133,456)||(133,456)| ||||||5,885,120|2,045,158|7,930,2?8| |Unapplied|total|return|income|in year|144,523|50,224|194,747| |Dividend|return|allocated to income|||(144,523)|(50,224)|(194,747)| |Gift component||ofpermanent||endowment|5,885,120||5,885,120| |Unapplied|total|return|carried|forward||2,045,158|2,045,158| |Total at 31stDecember 2022|||||5,885,120|2,045,158|7,930,278| ## ## ## ## |Reconciliation
ofnet movement
in funds|to net cash flow from|operating
activities|| |---|---|---|---| |||2022|2021f| |Net movement
in funds||(916,151)|843,155| |(Deduct)/add
change
in market value of investments
Deduct interest income shown
in investing
activities
Deduct losses/(gains)
on investments||532,737
(220,264)
(10,951)|(947,770)
(253,307)
34,300| |(Increase)/decrease
in debtors
Increase/(decrease)
in creditors||(2,153)
(9,883)|8,916
(147,520)| |Net cash used in operating
activities||(626,665)|(462,226)| ## ## |Reconciliation
of|funds|||| |---|---|---|---|---| |||Permanent||Totals| |||Endowment|Unrestricted|2022| |At 1stJanuary 2022||41,074,759|1,736,463|42,811,222| |Net movement
in funds||(476,881)|(439,270)|(916,151)| |At 31stDecember|2022|40,597,878|1,297,193|41,895,071| |Represented
by:||||| |Debtors
Cash at bank and|in hand||171,903
171,467|171,903
171,467| |Creditors
due within one year|||(85,255)|(85,255)| |Net current assets|||258,115|258,115| |Quoted investments||7,930,278|1,039,078|8,969,356| |Investment
property||29,448,589||29,448,589| |Tangible fixed assets||3,219,011||3,219,011| |||40,597,878|1,297,193|41,895,071| |||Permanent||Totals| |||Endowment|Unrestrictedf|2021f| |At 1stJanuary 2021||40,232,792|1,735,275|41,968,067| |Net movement
in funds||841,967|1,188|843,155| |At 31stDecember|2021|41,074,759|1,736,463|42,811,222| |Represented
by:||||| |Debtors|||169,750|169,750| |Cash at bank and
in hand|||188,725|188,725| |Creditors due within|one year||(95,138)|(95,138)| |Net current assets|||263,337|263,337| |Quoted investments||8,540,615|1,473,126|10,013,741| |Investment
property||29,315,133||29,315,133| |Tangible fixed assets||3,219,011||3,219,011| |||41,074,759|1,736,463|42,811,222|