## **BAYNE BENEFACTION ACCOUNTS FOR THE YEAR** **ENDED 31 JULY 2025** ## INDEX |Page|1-2|Trustees Annual Report| |---|---|---| ||3|Independent Examiner’s Report| ||4|Statement of Financial Activities| ||5|Balance Sheet| ||6-8|Notes to the Accounts| Registered Charity No: 203262 1 ## **BAYNE BENEFACTION TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31 JULY 2025** ## **REFERENCE AND ADMINISTRATIVE DETAILS** Charity number: 203262 Trustees: J Chaffey S Foot S Pullin D Tyler S Croft G Elsmore Contact address: Church House Oxford Kidlington Oxford OX5 1GF Independent examiners: Gravita Audit Oxford LLP First Floor, Park Central 40-41 Park End Street Oxford OX1 1JD Investment managers: CCLA Investment Management Limited Senator House 85 Queen Victoria Street London EC4V 4ET ## **STRUCTURE, GOVERNANCE & MANAGEMENT** The charity is 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 2025. 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. 2 ## **BAYNE BENEFACTION** ## **TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31 JULY 2025 (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 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 training for teachers, 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 due regard to the public benefit guidance published by the Charity Commission. ## **ACHIEVEMENTS AND PERFORMANCE** The trustees distributed grants amounting to £44,367 (2024: £45,270) 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 income in the year amounted to £48,687 (2024: £47,779) together with unrealised loss on investments of £8,160 (2024: unrealised gains of £122,944). ## **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 funds (£1,714,983 as at 31 July 2025) are held to generate investment income which is then applied in accordance with the charity’s objectives. ON BEHALF OF THE TRUSTEES J Chaffey (Trustee) DATE 01 December 2025 3 ## **INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF BAYNE BENEFACTION** I report on the accounts of Bayne Benefaction (‘the Trust’) for the year ended 31 July 2025, 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 (‘the Act’). 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 145(5)(b) 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: - (1) accounting records were not kept in respect of the Trust as required by section 130 of the Act; or - (2) the accounts do not accord with those records; or - (3) 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 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 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:** Gravita Audit Oxford LLP **Relevant professional body:** Institute of Chartered Accountants in England and Wales **Address:** First Floor, Park Central, 40-41 Park End Street, Oxford, OX1 2EP **Date:** 4 December 2025 4 ## **BAYNE BENEFACTION** ## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2025** |**Unrestricted**
**Note**
**General**
**Funds**
**£**
**INCOME FROM:**
**Investments**
Dividends received
2b
48,687
Interest receivable
2b
6,444
Total income
55,131
**EXPENDITURE ON:**
**Charitable activities**
Grants to schools
3
-
Grants to clergy
3
-
Governance costs
4
3,973
Total expenditure
3,973
**Net income before**
**investment gains**
51,158
Gains/(losses) on investment
assets
7
(8,160)
**NET INCOME**
42,998
**TRANSFERS BETWEEN**
**FUNDS**
6
(51,158)
Net movement in funds for
the year
(8,160)
**BALANCES BROUGHT FORWARD**
1,723,143
**BALANCES CARRIED FORWARD**
1,714,983|


|**Designated Funds**
**Schools**
**Clergy**
**£**
**£**
-
-
-
-
-
-
26,720
-
17,647
___ __-
_ ___-
26,720
17,647
(26,720)
(17,647)
-
-
(26,720)
(17,647)
30,695
20,463
3,975
2,816
158,792
49,129
162,767
51,945||| |---|---|---|---|---| ||_
|||| |||||
| The notes on pages 6 to 8 form part of these accounts 5 ## **BAYNE BENEFACTION** ## **BALANCE SHEET AS AT 31 JULY 2025** |**Note**
**2025**
**£**
**FIXED ASSETS**
Investments
7
**CURRENT ASSETS**
CBF Church of England Deposit Fund
148,089
Cash at bank
12,451
160,540
**CREDITORS: AMOUNTS**
**FALLING DUE WITHIN ONE**
**YEAR**
8
(9,820)
**NET CURRENT ASSETS**
**NET ASSETS**
**UNRESTRICTED FUNDS**
General funds
Designated:
Schools
Clergy|
**2024**
**£**
**£**
**£**
1,778,975
1,787,135
140,458
5,091
145,549
(1,620)
150,720
143,929
1,929,695
1,931,064
1,714,983
1,723,143
162,767
158,792
51,945
49,129
1,929,695
1,931,064| |---|---| The notes on pages 6 to 8 form part of these accounts. These accounts have been approved and authorised for issue by the Trustees on 01 December 2025 Signed on behalf of the Trustees J Chaffey (Trustee) 6 ## **BAYNE BENEFACTION** ## **NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 JULY 2025** ## **1 GENERAL INFORMATION** Bayne Benefaction meets the definition of a public benefit entity under FRS 102. It is and England & Wales unincorporated charity with its registered office at Church House Oxford, Kidlington, Oxford, OX5 1GF. ## **2 ACCOUNTING POLICIES** The following accounting policies have been used consistently in dealing with items which are considered material in relation to the accounts: ## a) **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 (FRS 102) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011. There are no uncertainties about the charity’s ability to continue as a going concern. ## b) **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. ## c) **Grants** Grants are accounted for on a payable basis. ## d) **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. ## **3 GRANTS PAYABLE IN FURTHERANCE OF THE CHARITY’S OBJECTS** |**Grants to Schools**
Oxford Diocesan Board of Education (ODBE)
Oxford Diocesan Schools Trust (ODST)|**2025**
**£**
18,610
8,110
26,720|**2024**
**£**
21,550
5,630
27,180| |---|---|---| Grants to Clergy in the year amounted to £17,647 (2024: £18,090) These were made to 15 (2024: 13) individuals. 7 ## **BAYNE BENEFACTION** ## **NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 JULY 2025 (CONTINUED)** ## **4 GOVERNANCE COSTS** |Accountancy/independent examiners’ fee
Secretary
Legal and Professional|**2025**
**£**
1,710
1,800
463
3,973|**2024**
**£**
1,620
1,650
900
4,170| |---|---|---| ## **5 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. ## **6 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** |Unrestricted general funds net income before investment
gains
**Allocated**
Designated funds School
Designated funds Clergy
**7**
**INVESTMENTS**
Balance brought forward
Change in market value|**2025**
**£**
51,158
30,695
20,463
**2025**
**£**
1,787,135
(8,160)
1,778,975|**2024**
**£**
50,515
30,309
20,206
**2024**
**£**
1,664,191
122,944
1,787,135| |---|---|---| All investments were held in the CBF Church of England Investment Fund. 8 ## **BAYNE BENEFACTION** ## **NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 JULY 2025 (CONTINUED)** ## **8 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** |**2025**
**£**
Grants payable
8,110
Accruals
1,710
9,820
**9**
**ANALYSIS OF NET ASSETS BY FUND**
**Unrestricted**
**General**
**Funds**
**Designated**
**Funds**
**£**
**£**
**2025**
Investments
1,714,983
63,992
Net current assets
-
150,720
1,714,983
214,755
**2024**
Investments
1,723,143
63,992
Net current assets
-
143,929
1,723,143
207,921|**2024**
**£**
-
1,620
1,620
**Total**
**£**
1,778,975
150,720
1929738
1,787,135
143,929
1,931,064| |---|---|