BAYNE BENEFACTION ACCOUNTS FOR THE YEAR ENDED 31 JULY 2024 INDEX Page 1-2 Trustees Annual Report Independent Examinerfs Report Statement of Financial Activities Balance Sheet Notes to the Accounts Registered Charity No.. 203262
BAYNE BENEFACTION TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31 JULY 2024 REFERENCE AND ADMINISTRATIVE DETAILS Charity number. 203262 Trustees.. J Chaffey S Croft G Elsmore S Foot S Pullin D Tyler Contact addres5'. Church House OKford Kidlington Oxford OX5 IGF Independent examiners.. Critchleys Audit LLP First Floor, Park Central 40-41 Park End Street Oxford OXI IJD Investment managers-. CCLA 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 as amended on 25 September 2024. It is an unincorporated charity. The trustees meet bi-annually to consider applications and distribute grants. The Trustees con515t 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 BENEFAcfioN TRUSTEES ANNUAI REPORT FOR THE YEAR ENDED 31 JULY 2024 (CONTINUED) OBJECTIVES AND ACTIVITIES The objects of the charity. which are for the public benefit are to support Clergy and Church Schools (except for school buildings) in the L)iocese of Oxford. The policies of the charity are: To invite applicatlDns 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 resoL*rces, in-service training for teachers. governors and others who work in the schools. To maintsin 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 Ceritres in the Diocese. Public benefit The Trustees 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 £45,27012023= £38.0901 whith 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 income in the year amounted to £47,77912023.. £47,518) together with unrealised gains on investments of £122,94412023: unrealised losses of £30,415). 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 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£1.723.143 as at 31 July 20241 are held to generate investment income which is then applied in accordance with the charitys objectives. ON BEHALF OF THE TRUSTEES J Chaffey ITrnsteel
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BAYNE BENEFACTION I report on the accounts of Bayne Benefaction I'the Tr*Jst'} for the year ended 31 July 2024, which are set out on pages 4 to 8. Responsibllllies 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 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commissioner under section 145lSllbl 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 accoLtnting 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 requiiements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair view which is not a matteT 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 Address: First Floor. Park Central, 40-41 Park End Street, Oxford, OX12EP Date..
BAYNE BENEFACTION STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2024 Unrestricted General Funds Deslgnated Funds Total 2024 Totsl 2023 Note Schools Clergy INCOME FROM: Investments Dividends received Iriterest receivable 2b 2b 47,779 47,779 47,518 Totsl income 54 EXPENDITURE ON: Charitable artivities Grants to schools Grants to clergy Governance costs 27,180 27,180 18,090 22,740 15,350 18.090 17 Total expenditure Nèt ¢#come before Investment gains 50,515 127,1801 118,0901 5,245 10.118 Gains/llosses} on investment assets 122944 41 NET INCOME 173.459 127.1801 118,0901 128,189 (20,2971 TRANSFERS BETWEEN FUNDS Net movement in funds for the year 722,944 3,129 2,116 128,189 120,297) BALANCES BROUGHT FORWARD 1600 199 155663 180287 BALANCES CARRIED FORWARD The notes on pages 6 to 8 form part of these accounts
BAYNE BENEFACTION BALANCE SHEET ASAT31 JULY 2024 Note 2024 2023 FIXED ASSETS Investments 1,787,135 1,664,191 CURRENT ASss CBF Church of England Deposit Fund Cash at bank 140,458 138,733 145,549 140,184 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 1.620 NET CURRENT ASSETS 14 NET ASSETS VNRESTRicfED FUNDS General funds Designated.. 1,723,143 158,792 I,fA)0,199 155,663 Schools Clergy The note5 on pages 6 to 8 fomi part of these accounts. These accounts have been approved and authorised for issue by ihe Trustees on........................................... Signed on behalf of the Trustees 'gp J Chaffey (trusteel
BAYNE BENEFACTION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 JULY 2024 GENERAL INFORMATION Bayne Benefaction meets the definition of a public benefit entily under FRS 102. It 15 a UK unincorporated entity with it5 registered office at Church House Oxford, Kidlington, Oxford, OXS IGF. ACCOUNTING POLICIES The following accounting policies have been used consistently in dealing with items which are considered material in relation to the accounts.. al Basls of preparatlon 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- Icharities SORP IFRS 10211, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) and the Charities Act 2011. bl Investments In accordance with the SORP. investment5 are shown at market valLse. Investment income has been accounted for on a receivable basi5. 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 2024 2023 Grants to Schools Oxford Diocesan Board of Education IODBE) Oxford Diocesan Schools Trust IODST) 21,SS0 17,490 Grants to Clergy in the year amounted to £18,090 12023.. £15,350) These were made to 13 12023: 101 individuals.
BAYNE BENEFACTION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 JULY 2024 (CONTINUED) GOVERNANCE COSTS 2024 2023 Accountancy[Independent examiners, fee Secretary Legal and Professional 1,620 1,650 900 1,500 1,500 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 FUND5 2024 2023 Unrestricted general funds net income before investment gains Allocated Designated lunds School Designated funds Clergy 30,309 28,925 INVESTMENTS 2Q24 2023 Balance brought forward Change in market value 1,664,191 122 1,694,606 All investments were held in the CBF Church of England Investment Fund. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Accruals
BAYNE BENEFACTION NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 JULY 2024 (CONTINUED) ANALYSIS OF NET ASSETS BY FUND Unrestricted Designated General Funds Funds Total 2024 Investments Net current assets 1.723,143 63,992 1,787,135 2023 Investments Net current assets 1,600,199 63,992 1,664,191