BAYNE BENEFAcfioN ACCOUNTS FOR THE YEAR ENDED 31 JULY 2022 INDEX Page 1-2 Trustees Annual Report Independent Examinerfs Report 5tstement of Financial Activities Balance Sheet Notes to the Accounts Registered Charty No.. 203262
BAYNE BENEFACTION TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31 JULY 2022 REFERENCE AND ADMINISTRATIVE DETAILS Charily number.. 203262 Trustees.. J Chaffey S Croft G Elsmore J French M Percy {resigned 26 April 2022) S Pullin Contact address.. Church House Oxford Kidlington Oxford OX5 1GF Independent examiners.. Critchleys Audit LLP Beaver House 23-38 Hythe Bridge Street Oxford OX12EP Investment managers.. CCL4 Investment Management Limited Senator House 85 Queen Victoria Street London EC4V 4ET STRUCTURE. GOVERNANCE & MANAGEMENT The charity 15 governed by the Will of the late Reverend de Vere Bayne as amended by a Scheme dated 31 May 1990. It is an unincorporated charity. The trustees meet bi-annually to consider applications and distribute grants. The Trustees consist of the individuals who occupy the following roles.. The Very Reverend The Dean of Christ Church, Oxford. The Right Reverend The Lord Bishop of Oxford. The Venerable Archdeacons of Berkshire, Btjckingham, Dorchester and Oxford. The trustees are serviced by a Secretary who collects applications and processes them in readine55 for consideration. OBJECTIVES AND ACTIVITIES The objects of the charity, which are for the public benefit. are to support Clergy and Church Schc¥)Is (except for school buildings) in the Diocese of Oxford. The policies of the charity are: To invite applications from Clergy for grants to enable them to undertake further study. To support those Clergy who are in financial need. To uphold and enhance the teaching of religiou5 education in Church Schoo15 through the provision of resources, in-setvice training for teachers, govemors and others who work in the schools. To maintain Oiocesan links with all Diocesan Schools & sUPPQrt the work of the Diocesan staff within them. To support the work of Religious Education through the provision of resources in Religious Education Resource Centres in the Diocese.
BAYNE BENEFACTION TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31 JULY 2022 {CONTINUED} Public benefit The Tru5tee5 have complied with the duty within the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission. ACHIEVEMENTS AND PERFORMANCE The trustees distributed grants amounting to £30,71812021-. £40.384) which are analysed in note 3 of the accounts. FINANCIAL REVIEW All investments are held in the CBF Church of England Deposit Fund and are presently managed by CCLA Investment Management Limited. Investment incorne in the year amounted to £46,903 12021: £45,245) together with unrealised losses on investments of £17,211 {2021.' unrealised gains of £238.7511. Deslgnated funds All general fund net income is allocated to the designated funds, School and Clergy. Schools have first call on the net income and must not receive more than four fifths and not less than three fifths. Clergy are to receive not more than two fifths and not less than one fifth of all net incoming resources. The proportion within the financial year is set out in note 6. Reserves The remaining funds1£1,630,614 as at 31 July 20221 are held to generate investment income which is then applied in accordance with the charity's objectives. ON BEHALF OF THE TRUSTEES PM d0* t9L L>e& g>
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BAYNE BENEFACTION I report on the accounts of Bayne Benefaction ('the TrusV} for the year ended 31 July 2022, which are set out on pages 4 to 8. Responsibilities and basis of report As the charity tnjstees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 20111'the ACVI. I report in respect of my examination of the Trustee's account5 Caled out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commissioner under section 145{511b) of the 2011 Act. Independent examiner'5 Statement I have completed my examination. I confirm that no material rnatters 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 Trust as required by section 130 of the Act,. or Pl the accounts do not accord with those records,- or (31 the accounts do not comply with the applicable requirements conceming the form and content of accounts set out in the Charities (Accounts and Reportsl 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 collcerris 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. Name of examiner: Colin Mills Name of firm: Ciitchleys Audit LLP Relevant professional body: Institute of Chartered Accountants in England and Wales Address: Beaver House, 23-38 Hythe Bridge StreeL Oxford. OXI 2EP Date: 2 December 2022
BAYNE BENEFACTION STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2022 Unrestrlcted General Funds Deslgnated Funds Total 2022 Total 2021 Note Schools Clergy INCOME FROM: Investments Dividends received Interesl receivable 2b 2b 46,565 46.565 45.034 211 Total income 45 245 EXPENDITURE ON: Chafitable aclivities Grants to schools Grants to clergy Govemance costs 25,300 25,300 5,418 20,850 19,534 5,418 Total expenditure Net income before investment gains 44,065 125,3¢J)I 15,4181 13,347 2.101 Gains/llossesl on investment assets 2387S1 NET INCOME 26,854 125,300) 15,4181 13,8641 240,852 TRANSFERS BETWEEN FUNDS Net movement in funds for the year 117,2111 1,139 12,208 13.8641 240,852 BALANCES BROUGHT FORWARD 148339 182703 1586184 BALANCESCARRIEDFORWARD a4UZ& The notes on pages 6 to 8 form part of these accounts
BAYNE BENEFAcfioN BALANCE SHEET AS AT 31 JULY 2022 Note 2022 2021 FIXED ASSETS Investments 1,694,606 1,711.817 CURRENT ASSETS CBF Church of England Deposit Fund Cash at bank 124,525 109,622 129,904 116,479 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR NET CURRENT ASSETS 128 566 NET ASSETS UNRESTRICTED FUNDS General funds Designated- 1,630,614 149.478 1,647.825 148,339 Schools Clergy The notes on page5 6 to 8 form part of these accounts. These accounts have been approved and authorised for issue by the Trustees on...................................... Signed on behalf of the Trustees sp
BAYNE BENEFAcfioN NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 JULY 2022 GENERAL INFORMATION Bayne Benefaction meets the definition of a public benefit entity under FRS 102. It is a UK unincorporated entity with its registered office at Church House Oxford, KidlIngto Oxford, OX5 1GF. ACCOUNTING POLICIES The following accounting policies have been used conslstently in dealing with item5 which are considered material in relation to the accounts.. al Basis of preparation The financial statements have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland IFRS 1021- (Charities SORP IFRS 10211, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Charities Act 2011. bl Investments In accordance with the SORP, investments are shown at market value. Investment income has been accounted for on a receivable ba515. Unreali5ed and reali5ed gains on investments are reflected through the statement of financial a(tivitie5. cl Grants Grants are accounted for on a payable basis. dl Fund accounting General Funds are unrestrirted funds available for use at the discretion of the Trustees in furtherance of the objectives of the charity. Designated fvnds are unrestricted funds set aside by the Trustees for particular purFV)ses. The aim and use ol each designated fund is set out in note 6. GRANTS PAYABLE IN FURTHERANCE OF THE CHARITY'S OBJECTS 2022 2021 Grants to Schools Oxford Diocesan Board of Education IODBEI Oxford Diocesan Schools Trust IODSTI 15,300 13,900 95 Grants to Clergy in the year amounted to £7,218 less a refund of £1,80012021'. £20,034 less a refund of £5001. These were made to 712021-. 111 individuals.
BAYNE BENEFACTION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 JULY 2022 {CONTINUED GOVERNANCE COSTS 2022 2021 Accountancy[Independent examiners. fee Secretary 1,338 1.260 RELATED PARTY TRANSACTIONS. TRUSTEES REMUNERATION AND EXPENSES The Irustees receNed no remuneration or expenses in either year. There were no related party transactions in either year FUNDS OF THE CHARITY The trust designates all its surplus income on the general fund to either School or Clergy funds. The ratio adopted was school three fifths and clergy two fifths. TRANSFERS BETWEEN FUNDS 2022 2021 Unrestrirted general funds net income before investment gains Allocated Designated funds School Designated fund5 Clergy 26,439 25,491 INVESTMENTS 2022 2021 Balance brought fOard Change in market value 1,711,817 1,473,066 All investments were held in the CBF Church ol England Investment Fund. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2022 2021 Accnjals
BAYNE BENEFACTION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 JULY 2022 {CONTINUED} ANALYSIS OF NET ASss BY FUND Unrestricted Design- General ated Funds Funds Total 2022 Investments Net currer)t assets 1,630,614 63.992 128566 1,694.606 128 2021 Investments Net current 85sets 1,647,825 63,992 115219 1,711,817 21