BAYNE BENEFACTION ACCOUNTS FOR THE YEAR ENDED 31 JULY 2023 INDEX Page 1-2 Trustees Annual Report Independent Examinerfs Report ststement of Financial Activities Balance Sheet Notes to the Accounts Registered Charity No: 203262
BAYNE BENEFACTION TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31 JULY 2023 REFERENCE AND ADMINISTRATIVE DEtAILS Charity number. 203262 Trustees.. J Chaffey S Croft G Elsmore J French (until 30.9.221 S Foot (from 1.7.231 S Pullin D Tyler (from l.10.22} Contact address.. Church House Oxford Kidlington Oxford OX5 1 GF Independent examiners-. Critchleys Audit LLP Beaver House 23-38 Hythe Bridge Street Oxford OX12EP Investment manager5= CCLA Investment Management Limited Senator House 85 Queen Victoria Street London EC4V 4ET STRUCTURE. GOVERNANCE e4 MANAGEMENT The charity is 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, Buckingham, Dorchester and Oxford. The trustees are serviced by a Secretary who collects applications and processes them in readiness for consideration.
BAYNE BENEFACTION TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31 JULY 2023 (CONTINUED) OBJEcfivES AND ACTIVITIES The objects of the charity, which are for the public benefiL are to support Clergy and Church Schools (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 religious education in Church Schools through the provision of resources, in-service trainin9 for teacheis, governors and others who work in the schools. To maintain Diocesan links with all Diocesan Schools & support 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. Public benefit The Trustees have complied with the duty within the Charities Act 2011 to have dLte regard to the public benefit guidance published by the Charity Commission. ACHIEVEMENTS AND PERFORMANCE The trustees distributed grants amounting to £38.09012022= £30.7181 which are analysed in note 3 of the accounts. FINANCIAL REVIEW All investmerbts are held in the CBF Church of England Deposit Fund and are presently managed by CCLA Investment Management rnited. Investment income in the year amounted to £47,518 12022.. £46,903) together with unrealised losses on investments of £30.41512022'. unrealised losses of £77,211). Designated 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 le55 than three fifths. Clergy are to receive nol 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. ReseNes The remaining funds1£1,630,614 as at 31 July 2023) are held to generate investment income which is then applied in accordance with the charity's objectives. ON BEHALF OF THE TRUSTEES 5pM J Chaffey (Trusteel
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BAYNE BENEFACTION I report on the accounts of Bayne Benefaction I'the Trust'l for the year ended 31 July 2023, which are set out on pages 4 to 8. Responsibilities and basis of report As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 I'the Act'l. I report in respect of my examination of the Trustee's accounts carried out under section 145 of the 2011 Art and in carrying out my examination I have followed all the applicable Directions given by the Charity Commissioner under section 14515)Ibl of the 2011 Act. Independent examiner's statement 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.. 111 accounting records were not kept in respect of the Trust as required by section 130 of the ACL or 121 the accounts do not accord with those records,. or 131 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 2(X)8 other than any requirement that the accounts give a 'true and fair view, which 15 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. Name of examiner. Colin Mills Name of firm: Critchleys Audit LLP Relevant professional body: Institute of Chartered Accountants in England and Wales Addre Beaver House, 23-38 Hythe Bridge Street. Oxford, OX12EP Date: 12 December 2023
BAYNE BENEFAcfioN STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2023 Unrestrlrted General Funds Designated Funds Total 2023 Total 2022 Nole Schools Clergy INCOME FROM: Investments Dividends received Interest feceivable 2b 2b 47,518 47,518 690 46.565 338 Total income EXPENDITURE ON-. Charitable activities Grants to schools Grants to clergy Governance costs 22,740 22,740 15,350 25,300 5,418 15.350 Total expenditure 41 Net Income before investment gain5 48,208 122,7401 115,3501 10.118 13,347 Gains/llossesl on investment assets NET INCOME 17,793 {22,740} 115,3501 120,2971 13,8641 TRANSFERS BETWEEN FUNDS Net movement in funds for thè year 130.4151 6,185 3,933 120,3971 13.8641 BALANCES BROUGHT FORWARD 1630 614 0 1823172 27 BALANCES CARRIED FORWARD The notes on pages 6 to 8 form part of these accounts
BAYNE BENEFACTION BALANCE SHEET AS AT 31 JULY 2023 Nole 2023 2022 FIXED ASSETS Investments 1,664,191 1,694,606 CURRENT ASSETS C8F Church of England Deposit Fund Cash at bank 138.733 124,525 140,184 129,904 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR NET CURRENT ASSETS NET ASSETS UNRESTRICTED FUNDS General funds Designated.. 1.600.199 155.663 1,630,614 149,478 Schools Clergy The notes on pages 6 to 8 form part of these accounts. 1(-12-13 These accounts have been approved and authorised for issue by the Trustees on........................................... Signed on behalf of the Trustees PM J Chaffey (Tnjsteel
BAYNE BENEFACTION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 JULY 2023 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, Kidlington, Oxford, OX5 1GF. ACCOUNTING POLICIES The following accounting policie5 have been used consistently in dealing with items 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 Standard applicable in the UK and Republic of Ireland IFRS 1021 (Charities SORP IFRS 1021). 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 basis. Unrealised and realised gains on investments are reflected through the statement of financial activities. cl Grants Grants are accounted for on a payable basis. dl Fund accounting General Funds are unrestricted funds available for use at the discretion of the Trustees in furtherance of the objectives of the charity. Designated funds are unrestricted funds Set aside by the Trustees for particular purposes. The aim and use of each designated fund is Set out in note 6. GRANTS PAYABLE IN FURTHERANCE OF THE CHARITY'S OBJECTS 2023 2022 Grants to Schools Oxford Diocesan Board of Education IODBEI Oxford Diocesan Schools Trust IODSTI 17.490 15,300 Grants to Clergy in the year amounted to £5,35012022.' £7,218 less a refund of £1.8QJl. These were made to 1012022: 71 individuals.
BAYNE BENEFAcfioN NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 JULY 2023 ICONTINUEDI GOVERNANCE COSTS 2023 2022 Accountancyfindependent examiners. fee Secretary 1,500 1,338 RELATED PARTY TRANSACTIONS. TRUSTEES REMUNERATION AND EXPENSES The trustees received 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 2023 2022 Unrestricted general funds net ir¢come before investment gains Allocated Designated funds School Designated funds Clergy 28,925 6,439 INVESTMENTS 2023 2022 Balance brought forward Change in market value 1,694,606 1,711,817 211 All investments were held in the CBF Church of England Investment Fund. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 2022 Accruals
BAYNE BENEFAcfioN NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 JULY 2023 ICONTINUED) ANALYSIS OF NET ASSETS BY FUND Unrestricted Designated General Funds Funds Totsl 2023 Investments Net current assets 1,600.199 63.992 1,664.191 138684 2022 Investments Net current assets 1,630,614 63,992 1,694,606 12