**REGISTERED COMPANY NUMBER: 00041482 (England and Wales) REGISTERED CHARITY NUMBER: 207236** ## **CHURCH SCHOOLMASTERS AND SCHOOLMISTRESSES' BENEVOLENT INSTITUTION** ## **REPORT OF THE TRUSTEES AND** ## **UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022** Galloways Accounting First Floor Ridgeland House 15 Carfax Horsham West Sussex RH12 1DY **CHURCH SCHOOLMASTERS AND SCHOOLMISTRESSES' BENEVOLENT INSTITUTION** ## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022** |||**Page**|| |---|---|---|---| |**Reference and Administrative Details**||1|| |**Report of the Trustees**|2|to|6| |**Independent Examiner's Report**||7|| |**Statement of Financial Activities**||8|| |**Balance Sheet**|9|to|10| |**Notes to the Financial Statements**|11|to|17| |**Detailed Statement of Financial Activities**|18|to|19| **CHURCH SCHOOLMASTERS AND SCHOOLMISTRESSES' BENEVOLENT INSTITUTION** ## **REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 MARCH 2022** **TRUSTEES** Mrs J R Barker Miss D Bell Mrs P A Castle Mrs K Croll Mrs A Heath Dr L M Hendy Mrs K M Ind Mrs P A Pavey Mrs C M Sorensen **REGISTERED OFFICE** 3 Kings Court Harwood Road Horsham West Sussex RH13 5UR **REGISTERED COMPANY** 00041482 (England and Wales) **NUMBER** **REGISTERED CHARITY NUMBER** 207236 ## **INDEPENDENT EXAMINER** Galloways Accounting First Floor Ridgeland House 15 Carfax Horsham West Sussex RH12 1DY Page 1 ## **CHURCH SCHOOLMASTERS AND SCHOOLMISTRESSES' BENEVOLENT INSTITUTION** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022** The trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2021. The trustees have adopted the provisions of 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) (effective 1 January 2015). The Church Schoolmasters and Schoolmistresses' Benevolent Institution (CSSBI) was established on the 2nd January 1857, becoming a charitable company limited by guarantee in June 1894. It is governed by Articles of Association which were last amended on 11 May 2011. We are extremely grateful to those members and friends who continue to support us and in particular our late Patron: Her Majesty the Queen and our Vice-Patrons: His Grace the Archbishop of Canterbury, His Grace the Archbishop of York and His Grace the Archbishop of Wales. We also are very pleased to thank our President, the Right Reverend and Right Honourable the Lord Bishop of London DBE. We always require more funding and for anyone wishing to make a donation a form is available by post from our registered office or on our website at www.cssbi.org.uk. We are able to reclaim tax from HM Revenue and Customs on all donations made under the Gift Aid Scheme. ## **OBJECTIVES AND ACTIVITIES** ## **Objectives and aims** The objectives for which the charity is established are to provide for necessitous present or former teachers/lecturers and those in teacher training who are members of the Church of England or of another recognised Christian denomination by giving financial assistance in times of affliction, disablement or other misfortune, and on their demise to provide for their financial dependants, such financial assistance to include (but not be limited to) assistance towards the cost of subsistence and education in each case anywhere within England and Wales. ## **Public benefit** The trustees have referred to the advice contained in the Charity Commission's general guidance on public benefit when reviewing their aims and objectives and in planning for future activities. The scope of the Charity was revised in May 2011. The trustees aimed to widen their remit without causing detriment to the current beneficiaries. They agreed, that when considering applications for assistance, they would use the Churches Together in England, and the Churches Together in Wales documents listing recognised Christian denominations. Applications for assistance that are submitted undergo checks for identity, teaching and church connections. Applicants' bank statements and any further information they are asked to provide are scrutinised to aid the CSSBI Council in their decision making. Page 2 ## **CHURCH SCHOOLMASTERS AND SCHOOLMISTRESSES' BENEVOLENT INSTITUTION** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022** ## **ACHIEVEMENT AND PERFORMANCE** ## **Charitable activities** The trustees have been able to help a wide range of people needing financial support. Grants in excess of £121,000 (2021: £75,000) were awarded this year.Grants and running costs are reviewed monthly. During the pandemic of Covid-19, when the trustees were unable to meet in person, the Administrator e-mailed all the information regarding applicants for grants to them. The trustees emailed their responses and decisions were made. Our Articles of Association allow for this to happen under Section 24A Attendance and Speaking at General Meetings. The trustees also met together once this year in a large hired conference room to allow for social distancing. One third of visitors went directly to our website, the other two thirds were split equally between Turn2us website or Google's 'Search for Grants'. There were 614 (2021: 643) hits to our website, slightly down on last year and 88 (2021: 113) applications for assistance, 25% less than the previous year. Of these 47 (2021: 39) were supported for grants but 41 (2021: 74) were not able to be helped due to their requests not being within our remit, not completing the form or sending the correct information, not being able to provide suitable references or were not considered necessitous. In rare cases it has been difficult to establish eligibility and when this happens the trustees have exercised their discretion. Grants awarded this year were for higher amounts and often for more than one item when compared to the previous year. The trustees have tried to make the charity more visible to a greater number of people by enhancing their publicity and communications. Our Administrator keeps in touch with many people in various organisations, such as Turn2us and the Church of England. The website, www.cssbi.co.uk is secure and robust, and it adapts and resizes to display correctly on desktops, tablets and smart phones. The website is monitored regularly and updated as appropriate. The trustees have very much appreciated the many cards, emails and thank-you notes from successful applicants who have been helped in various ways. The CSSBI has made a difference to the lives of many people this year, by, for example, granting financial aid for: - Modifications to bathrooms for retired teachers with mobility issues - Replacements boilers for a retired teacher and for a teacher with a young family - General property maintenance including re-roofing one house - Childcare costs due to a change in circumstances to enable a teacher to complete training - Childcare costs due to changes in Universal Credit and other benefit pay-outs or claims - Suitable Wheelchair Accessible Vehicle for a retired teacher with mobility issues - Council tax, mortgage and utility arrears - Financial assistance due to cessation of supply work due to Covid 19 Page 3 ## **CHURCH SCHOOLMASTERS AND SCHOOLMISTRESSES' BENEVOLENT INSTITUTION** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022** ## **FINANCIAL REVIEW** ## **Financial position** The CSSBI originally grew out of the needs of retiring teachers and their families when they fell on hard times. The Charity's modern day role continues to provide financial help for those in need as defined in their Articles of Association. The CSSBI continues to be in a financial position of strength, generated by the invested assets and cash on deposit, realised by the sale of their care home, Glen Arun, in 2009. As a result the Charity invites those in need to put forward relevant details of their situation and why they need financial support for consideration by the trustees of the charity. The activities of the CSSBI, in terms of both fulfilling successful grant applications and the administrative requirements of the charity, are now funded by monthly withdrawals from the two investment portfolios on an equal basis. The selected portfolio of Unit Trust funds held on the Old Mutual Wealth platform are managed by a range of fund managers according to the individual fund profiles. This portfolio is now known as the Quilter portfolio and continues to be held as a General Investment Account on the Old Mutual Wealth platform. The Quilter Cheviot portfolio is managed on a discretionary basis, investing largely in directly held stocks and shares. The combination of these two approaches to investment decisions has provided a balanced and diversified spread of assets that have weathered the changes in the economic, political and investment environments both in the UK and globally. As a result, the CSSBI was able to support 47 of the 88 applications for grants made during the year ending 31st March 2022. During the year ending 31st March 2021 113 applications were received of which 39 were accepted. The funding for these grants came from regular monthly withdrawals of £5,000 from each of the invested assets with Quilter (Old Mutual Wealth) and Quilter Cheviot. The value of each investment as at 31st March 2022 is £1,240,393 (Quilter, formerly named Old Mutual Wealth) and £1,071,423 (Quilter Cheviot). The total value of the invested assets is £2,311,816 as at 31st March 2022 whereas the value stood at £2,346,397 at the same date in 2021. Although the effect of the Covid 19 pandemic was in evidence throughout the UK, grants continued to be made. ## **Principal funding sources** The principal funding source for the activities of the charity will be the income and/or growth of the combined total of the cash on deposit and the investment portfolio. Page 4 **CHURCH SCHOOLMASTERS AND SCHOOLMISTRESSES' BENEVOLENT INSTITUTION** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022** ## **FINANCIAL REVIEW** ## **Reserves policy** The charity has total reserves of £2,564,454 at 31 March 2022 (2021: £2,638,235). The principal funding source for the activities of the charity will be the regular withdrawals from capital combined with any naturally arising income where appropriate from the cash on deposit and within the investment portfolios. The Reserves Policy agreed by the trustees for the financial year ending 31 March 2022 was: - to hold up to 20% of the combined cash and investment portfolio on deposit for both normal running costs and distribution of grants - for cash deposits to be maintained as far as was viable, bearing in mind the very low rate of interest being applied to the CSSBI accounts - for the remaining 80% to be invested in a broad spread of assets combining both fixed interest and equity based holdings with a geographical split that would represent a realistic approach to investment risk and reward - to maintain the target growth level for the capital invested at 3.5% plus the Consumer Price Index then standing at 7% for the coming year. Overall a balance continues to be sought between the need for capital growth and the requirement for funding for the grants - that the monthly trustees' meeting will review the cash deposit levels and investment capital values alongside the political landscape as it changes - that all variations in the value of grants awarded, running costs and inflation will be reviewed, where considered appropriate, against a benchmark of a three-year average, and appropriate action taken - that the process of drawing down capital on a monthly basis will continue to fund the grants to be made and the administrative running costs. This process can be stopped or amended to suit the needs of the charity as well as re-positioning the portfolio as investment and deposit returns change over time. Having reviewed the performance of the total portfolio as well as the investment criteria, the trustees were satisfied there was no need for change at present. However, ongoing monitoring of the financial strength of the charity is vital and will continue to be reviewed on a monthly basis at the trustees' meetings. It should be borne in mind that the level of withdrawals remains at £10,000 per month from the investment portfolios; running costs have increased due to the additional work load generated by the number of successful applications as well as their value. There were 47 successful applications as at 31st March 2022 (2021: 39). The value of the grants awarded was £121,050 (2021: £75,282). However, the total value of all the assets remains strong at £2,311.816. Therefore, it is felt that the CSSBI is in a good position financially to help those in need, with established procedures to ensure that all transactions and projects are properly authorised. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Governing document** The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. ## **Charity constitution** The Church Schoolmasters and Schoolmistresses' Benevolent Institution (CSSBI) was established on the 2nd January 1857, becoming a charitable company limited by guarantee in June 1894. It is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the companies act 2006. Company number: 41482. The trustees are all guarantors in a sum not exceeding £l each. ## **Recruitment and appointment of new trustees** New Council members are recommended to the CSSBI Council by current members or by local clergy. It is preferable, but not altogether necessary, that they have a background in education. The Council must approve the nomination before the person takes up the responsibility of a trustee. The trustees become members of the CSSBI Council. They are responsible for the general control and management of the charity. They decide what is to be done and how money is to be distributed to those in need. They meet regularly, usually monthly, at the registered office in Horsham. Page 5 ## **CHURCH SCHOOLMASTERS AND SCHOOLMISTRESSES' BENEVOLENT INSTITUTION** ## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2022** ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** ## **Risk management** The trustees keep proper accounting records to ensure that their financial statements comply with the Companies Act 2006. They are responsible for the preparation of the accounts. They also make sure that they understand and take responsibility for safeguarding the assets of the charity. They take reasonable steps for the prevention and detection of fraud and other irregularities. The trustees review financial and other risks when appropriate, and have established procedures to ensure that all transactions and projects are properly authorised. Their actions include developing policies and procedures for many areas, such as defence against cyber-attack, malicious disruption and malware. Other policies and procedures include managing complaints, general data protection, privacy, safeguarding, risk assessment and conflict of interest. All are reviewed on a regular basis. The trustees have now written a new business plan. Approved by order of the board of trustees on 1 December 2022 and signed on its behalf by: Miss D Bell - Trustee Page 6 ## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CHURCH SCHOOLMASTERS AND SCHOOLMISTRESSES' BENEVOLENT INSTITUTION** ## **Independent examiner's report to the trustees of Church Schoolmasters And Schoolmistresses' Benevolent Institution ('the Company')** I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2022. ## **Responsibilities and basis of report** As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'). Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act. ## **Independent examiner's statement** I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: 1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act 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; or 4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)). 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. Sarah McManus Chartered Accountant Galloways Accounting First Floor Ridgeland House 15 Carfax Horsham West Sussex RH12 1DY 1 December 2022 Page 7 ## **CHURCH SCHOOLMASTERS AND SCHOOLMISTRESSES' BENEVOLENT INSTITUTION** ## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022** |Notes
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
Investment income
2
**Total**
**EXPENDITURE ON**
Raising funds
3
**Charitable activities**
Beneficiary support
**Total**
Net gains on investments
**NET INCOME/(EXPENDITURE)**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**TOTAL FUNDS CARRIED FORWARD**|31.3.22
Unrestricted
fund
£
250
49,766
50,016
24,987
161,785
186,772
62,975
(73,781)
2,638,235
2,564,454|31.3.21
Total
funds
£
752
50,909| |---|---|---| |||51,661| |||23,708
109,983| |||133,691| |||386,010| |||303,980
2,334,255| |||2,638,235| The notes form part of these financial statements Page 8 ## **CHURCH SCHOOLMASTERS AND SCHOOLMISTRESSES' BENEVOLENT INSTITUTION** ## **BALANCE SHEET 31 MARCH 2022** |Notes
**FIXED ASSETS**
Tangible assets
8
Investments
9
**CURRENT ASSETS**
Debtors
10
Cash at bank and in hand
**CREDITORS**
Amounts falling due within one year
11
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**NET ASSETS**
**FUNDS**
13
Unrestricted funds
**TOTAL FUNDS**|31.3.22
Unrestricted
fund
£
200
2,311,816
2,312,016
4,112
279,790
283,902
(31,464)
252,438
2,564,454
2,564,454
2,564,454
2,564,454|31.3.21
Total
funds
£
399
2,346,397
2,346,796
2,787
309,393
312,180
(20,741)
291,439
2,638,235
2,638,235
2,638,235
2,638,235| |---|---|---| The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022. The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006. ## The trustees acknowledge their responsibilities for - (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and - (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. The notes form part of these financial statements continued... Page 9 ## **CHURCH SCHOOLMASTERS AND SCHOOLMISTRESSES' BENEVOLENT INSTITUTION** ## **BALANCE SHEET - continued** ## **31 MARCH 2022** These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. The financial statements were approved by the Board of Trustees and authorised for issue on 1 December 2022 and were signed on its behalf by: Miss D Bell - Trustee The notes form part of these financial statements Page 10 **CHURCH SCHOOLMASTERS AND SCHOOLMISTRESSES' BENEVOLENT INSTITUTION** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022** ## **1. ACCOUNTING POLICIES** ## **Basis of preparing the financial statements** The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets. ## **Income** All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. ## **Expenditure** Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure. ## **Tangible fixed assets** Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Computer equipment - 33% on cost ## **Taxation** The charity is exempt from corporation tax on its charitable activities. ## **Fund accounting** Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. ## **Hire purchase and leasing commitments** Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease. continued... Page 11 ## **CHURCH SCHOOLMASTERS AND SCHOOLMISTRESSES' BENEVOLENT INSTITUTION** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022** ## **2. INVESTMENT INCOME** |Investment income
Deposit account interest
**RAISING FUNDS**
**Investment management costs**
Portfolio management
**SUPPORT COSTS**
Management
£
Beneficiary support
38,194
**NET INCOME/(EXPENDITURE)**
Net income/(expenditure) is stated after charging/(crediting):
Depreciation - owned assets
Hire of plant and machinery|31.3.22
31.3.21
£
£
47,485
47,405
2,281
3,504
49,766
50,909
31.3.22
31.3.21
£
£
24,987
23,708
Governance
Finance
costs
Totals
£
£
£
292
1,694
40,180
31.3.22
31.3.21
£
£
199
200
1,073
987| |---|---| ## **3. RAISING FUNDS** ## **4. SUPPORT COSTS** ## **5. NET INCOME/(EXPENDITURE)** ## **6. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 31 March 2022 nor for the year ended 31 March 2021. ## **Trustees' expenses** There were no trustee expenses in the year (2020: Nil) continued... Page 12 **CHURCH SCHOOLMASTERS AND SCHOOLMISTRESSES' BENEVOLENT INSTITUTION** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022** |**7.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
Investment income
**Total**
**EXPENDITURE ON**
Raising funds
**Charitable activities**
Beneficiary support
**Total**
Net gains on investments
**NET INCOME**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
**TOTAL FUNDS CARRIED FORWARD**
**8.**
**TANGIBLE FIXED ASSETS**
**COST**
At 1 April 2021 and 31 March 2022
**DEPRECIATION**
At 1 April 2021
Charge for year
At 31 March 2022
**NET BOOK VALUE**
At 31 March 2022
At 31 March 2021|Unrestricted
fund
£
752
50,909| |---|---| ||51,661| ||23,708
109,983| ||133,691| ||386,010| ||303,980
2,334,255| ||2,638,235| ||Computer
equipment
£
599
200
199
399
200
399| continued... Page 13 ## **CHURCH SCHOOLMASTERS AND SCHOOLMISTRESSES' BENEVOLENT INSTITUTION** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022** ## **9. FIXED ASSET INVESTMENTS** |**MARKET VALUE**
At 1 April 2021
Additions
Disposals
Revaluations
At 31 March 2022
**NET BOOK VALUE**
At 31 March 2022
At 31 March 2021|Listed
investments
£
2,346,397
47,472
(105,494)
23,441
2,311,816
2,311,816
2,346,397| |---|---| Analysis of investments: ||31.3.2022|31.3.2021| |---|---|---| |Cash/Money Market|2.81%|3.07%| |Fixed Interest - UK|23.18%|26.66%| |Fixed Interest - Overseas|0.99%|| |Equities - UK|22.77%|25.23%| |Equities - Overseas|42.38%|39.58%| |Other|7.87%|5.46%| Cost or valuation at 31 March 2022 is represented by: |||Listed| |---|---|---| |||Investments| |||£| |Valuation in 2022||2,311,816| |If fixed asset investments had not been revalued they would have been included at the following historical cost:||| ||31.3.22|31.3.21| ||£|£| |Cost|1,802,070|1,849,401| Fixed asset investments were valued on an open market basis on 31 March 2022 by Ascot Lloyd. continued... Page 14 ## **CHURCH SCHOOLMASTERS AND SCHOOLMISTRESSES' BENEVOLENT INSTITUTION** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022** |**10.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Other debtors
Prepayments
**11.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Other creditors
Accrued expenses
**12.**
**LEASING AGREEMENTS**
Minimum lease payments under non-cancellable operating leases fall due as follows:
Within one year
Between one and five years
**13.**
**MOVEMENT IN FUNDS**
At 1.4.21
£
**Unrestricted funds**
General fund
2,638,235
**TOTAL FUNDS**
2,638,235
Net movement in funds, included in the above are as follows:
Incoming
Resources
resources
expended
£
£
**Unrestricted funds**
General fund
50,016
(186,772)
**TOTAL FUNDS**
50,016
(186,772)||31.3.22
£
1,350
2,762
4,112
31.3.22
£
22,039
9,425
31,464
31.3.22
£
883
1,546
2,429
Net
movement
in funds
£
(73,781)
(73,781)
Gains and
losses
£
62,975
62,975|31.3.21
£
1,350
1,437
2,787
31.3.21
£
11,234
9,507
20,741
31.3.21
£
883
2,429
3,312
At
31.3.22
£
2,564,454
2,564,454
Movement
in funds
£
(73,781)
(73,781)| |---|---|---|---| ||||| ||||| Page 15 continued... **CHURCH SCHOOLMASTERS AND SCHOOLMISTRESSES' BENEVOLENT INSTITUTION** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022** ## **13. MOVEMENT IN FUNDS - continued** ## **Comparatives for movement in funds** |At 1.4.20
£
**Unrestricted funds**
General fund
2,334,255
**TOTAL FUNDS**
2,334,255
Comparative net movement in funds, included in the above are as follows:
Incoming
Resources
resources
expended
£
£
**Unrestricted funds**
General fund
51,661
(133,691)
**TOTAL FUNDS**
51,661
(133,691)||Net
movement
in funds
£
303,980
303,980
Gains and
losses
£
386,010
386,010|At
31.3.21
£
2,638,235|At
31.3.21
£
2,638,235| |---|---|---|---|---| ||||2,638,235|| ||||Movement
in funds
£
303,980
303,980|| |||||303,980| A current year 12 months and prior year 12 months combined position is as follows: |**Unrestricted funds**
General fund
**TOTAL FUNDS**|At 1.4.20
£
2,334,255
2,334,255|Net
movement
in funds
£
230,199
230,199|At
31.3.22
£
2,564,454| |---|---|---|---| ||||2,564,454| A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: |**Unrestricted funds**
General fund
**TOTAL FUNDS**|Incoming
resources
£
101,677
101,677|Resources
expended
£
(320,463)
(320,463)|Gains and
Movement
losses
in funds
£
£
448,985
230,199
448,985
230,199|Gains and
Movement
losses
in funds
£
£
448,985
230,199
448,985
230,199| |---|---|---|---|---| |||||230,199| Page 16 continued... **CHURCH SCHOOLMASTERS AND SCHOOLMISTRESSES' BENEVOLENT INSTITUTION** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2022** ## **14. RELATED PARTY DISCLOSURES** There were no related party transactions for the year ended 31 March 2022. Page 17 ## **CHURCH SCHOOLMASTERS AND SCHOOLMISTRESSES' BENEVOLENT INSTITUTION** ## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022** ||31.3.22|31.3.21| |---|---|---| ||£|£| |**INCOME AND ENDOWMENTS**||| |**Donations and legacies**||| |Donations|250|752| |**Investment income**||| |Investment income|47,485|47,405| |Deposit account interest|2,281|3,504| ||49,766|50,909| |**Total incoming resources**|50,016|51,661| |**EXPENDITURE**||| |**Investment management costs**||| |Portfolio management|24,987|23,708| |**Charitable activities**||| |Postage and stationery|171|73| |Advertising|384|348| |Grants to individuals|121,050|75,282| ||121,605|75,703| |**Support costs**||| |**Management**||| |Hire of plant and machinery|1,073|987| |Rates and water|302|261| |Insurance|227|201| |Telephone|525|511| |Postage and stationery|159|65| |Rent|6,906|6,385| |Accountancy|3,600|3,600| |Legal fees|13|553| |Other professional fees|25,104|19,965| |Computer expenses|250|322| |Subscriptions|35|35| ||38,194|32,885| |**Finance**||| |Bank charges|92|60| |Computer equipment|200|200| ||292|260| |**Governance costs**||| |Indemnity Insurance|1,135|1,135| |Carried forward|1,135|1,135| This page does not form part of the statutory financial statements Page 18 ## **CHURCH SCHOOLMASTERS AND SCHOOLMISTRESSES' BENEVOLENT INSTITUTION** ## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022** ||31.3.22|31.3.21| |---|---|---| ||£|£| |**Governance costs**||| |Brought forward|1,135|1,135| |Trustee meeting costs|559|-| ||1,694|1,135| |Total resources expended|186,772|133,691| |**Net expenditure before gains and losses**|(136,756)|(82,030)| |**Realised recognised gains and losses**||| |Realised gains/(losses) on fixed asset investments|56,119|(6,010)| |**Net expenditure**|(80,637)|(88,040)| This page does not form part of the statutory financial statements Page 19