REGISTERED COMPA14Y NUMBER.. 00041482 (England and Wales) REGISTERED CHARITY NUM8ER: 207236 CHURCH SCHOOLMASTERS AND LMISTRESSES. BENEVOLENT INSTITU SCH ON rt f tho Trust•e5 and Fina rEn Ga11y$ A¢cwnb"f¥J First FILx)r Ridgeland Hase 15 Carfax Horsham Wesl Sussex RH12 1DY
CHURCH SCHOOLMASTERS A OOLMISTRESSES. BENEVOLENT INSTITUTION Co FOR THE YEAR ENDED 31 MARCH 2024 ments Pag¢ Releren¢• and Administrati¥e Details Report of the Trustees Indgpendent Exarninarfs Repwt ststemenl of FIngl•l Adivitie8 Balance Sheet Noteg to the Financial Siaternents 10 to 15
CHURCH SCHOOLMASTERS AND 1ST ES. S Istntlv• Dolall FOR THE YEAR ENDED 31 MARCH 2024 TRUSTEes s J R Barker Miss D Bell Mrs P A Casiie Mrs K Crdl Mr5 A Heath Dr L M Hendy MrsKMlnd Mrs P A Pavey sCMS(Trtse REGISTERED OFNCE Fit Floor RKtgeland Hwse 15 Carfax Horsham Wesl Sussex RH12 10Y REGISTERED COMPANY NUMBER (KQ41482 {England and wa$) REGISTERED CHARITY NUMBER 207236 INDEPENDENT EXAMINER GaNoways Anthng Fir51 FIIMX Ridgeland H¢se 15 Carfax Horsham West Sussex RH12 1DY SOLICITORS s SL4icat(xs 50 Weslgate Chichester West Sussex PO19 3HE Page 1
CHU CHSC ST VOLENT INSTITUTION SAND REGISTERED NUMBER: 00041482 SCHOOLMI FOR THE YEAR ENDED 31 MARCH The trustees. are also directors of the charity for th8 Pur of the CoMpanS Act 2006, present their report Nlh the financial sialements ol the charrty lor the year ended 31st March 2024. The tniste8s have adopied the provisions ol the Accounting and Reporting by Charities". Statement Of Recommended prach" applicable to Charities preparing their ac¢ounts in a¢cor(lan¢8 With the F&nancial Rwrting Standard applicable in the UK and Repu1¢ of Ireland IFRS 1021 leffe¢tive 1st January 2015}. The Church Sefthlmasters and S¢hoolmistresses' Beneent Insbtution ICSSBII was 8Stablish8d on lh8 2nd January 1B57, beeorning a charilaue co¥npary limited by guatantee Thi June 1894. 11 is govemed by Arti(4es of AssoCialn which W8r8 last amend8d by special resdulicm) on 11th May 2011. We are extremely grateful lo those membets and friends th) continue to SL¥)wrl us and in parti0jr 10 our late Patron, Her Majesty Queen Elizabeth 11 and our ViPtron8'. His Grace the Arthbishop of Canlerbury, Hig Grace the Archb15h<)p of York HJ Hi% Grace the Archbishop of Wdes. We also are very pleased to thank our Presid8lll, the Right Reverend 8nd Right Honovrablè the Loril Bishop of London DBE. The CSSBI Council of Trustees have taken the deusion lo d05e lh8 Charity. After rnuch thought. prayer and di$¢ussion. in Dernber 2022 the Trust88s d8(ided to th5e Ihe Ch8rrty. CSS81's P8trons were notifd or the intended dOSu in Aug(tst 2023. The noti¢e of closure was pul on th& CSSBI'S websile in September 2023. The CSS81 was Ilw dosed to new app1icatrs. bui it was agreed that applicatsons already made would be dealt ¥Mlh as norrnal. The ftnal applKalion5 were as5e5seLI in February 2024. There were fve main reasons for dosure. They re di%(xJSS8d at length and agreed by am the trustees. They were confirmed as sufficient reasons lor dosure by the Charities Crffirnlw(. o The Equality. Diversity and Indusion Ads mean that we are no Iger afje to wnbnue wilh the original purpose. The money was dolla1 fL¥ a Chri5I8n charily for Christian thr$. Even after wlating the charitrf5 Articles of Asso¢ialion in May 2011. are now no longer to guarantee this. o Society has d)anged, people have diNerent expects.0$ and ideas of what constitutas bèing necèsstt(YJ5. o There tpas been a slgnifunl changg in Ihe caus8 W8 W8re cr8aled to address. For example. retired teachers now havg pension5. o W8 are un8b18 to recruit suilablo trustees. The twrrenl Counol of the CSSBI dc$ nol $W dirtY and would be una@ lo recruit new trustees If we ao knglY not meeb.ng D. l & E wulath)ns. o We bdieve w8 could achieve more for our cause by translern.ng wr a55ets to other Of9ani8ations. CSSBI have Icked at other organisalions with %mtlar purposes to CSSBI. The trustees then swnt a great deal of ts.me finding. investigaling an¢J discuswng. with the Administratorfs heSp, olher chaflties with 5irnilar purposes to Ihe CSSBI. It was agreed lo dide the finanryal assets. OTh in th8 form of rash. equally amongst four of them. OBJECTIVES ANO ACTIVrnES ObJÈcUves and alms The objectiv8s for tt)e th8rity is estatlishgj are to Lyovide for r$$rt0s present or fomer leach8rsn8thurers and those in teacher training who are membets of the Church of ENJland or of another ognIsed Chrislian denomination by giving fin8n¢ial a$sislance in tirnes of affliclion. disab$8m8ni other misfortune. and on their demise to provide lor lhr financial dependants. such financial as515tance to Indude Ibut not be Iitnited io) assistance towards the cost o15ub515tence and edu¢ab"c4I in each case anre wthin En9Lqnd and wa5. Public benefft The truslees have ferred to Ihe advi contsined in Ihe Chaiity C(Mnmi5sion's general guidance on public btrnefit when r8viewng their airns atKI objecb'ves and in tAanniThJ for hlture actiwlies. The scop8 of the tharity was r8Vi5ed in May 2011. The trust88s airned lo wden thwr remit wthout Causing detrimenl to the benefiOrIeS. They agreed that when considering applications f¢x aSsta[e. Ihey use Ihe Chufehes Together in England. and Ihe Churche5 Together in Wales documenis listing recognised Christian denomIna"0n$. Applications foT asststance that a submitted underg) thecks for idenlity. teachirvj and churth connec*'on5. Applicènls. bank ststernents and any futhr inforTnaborb they are asked io [Vide are scrutinised to awy the CSS81 Coun¢il In their decision makiThJ. Page 2
CHURCH SCHOOLMASTERS AND SCHOOLMISTRESSES. BENEVOLENT INS UTION REGI TERE eTru ees FOR THE YEAR ENDED 31 MARCH 2 ACHIEVEPIENT AND PERFORIIANCE Charitatsle activiti•s The twslees have be8n ab18 to help 8 r8 of Fwple ne8ding finan¢ial sUpt Grants in Èxcèss of £132,503 1£119,6901 pre awarded this year. Grants and runniryJ costs are reviewed Mthly. Duriro the pandemic of Covid-19, when the trustees werg unable lo meet in person. the Administralcff e-madei5 all the information regarding applicants for gr8nt5 to thèm. The trustees èmailtd their responstr5 an¢J dtrcisions We made. Thè AJdes ol Association allow for this io happen under SectK)n 24A Attendancé and s8"rj ai Genèral Wèb"ThJs. Thè trustaos also mat tog6thor I¥ce this year in a large hired fa)nferen¢e roorn to k)W for sw81 th'stan¢ing. ApproxAMately one thlrd ol Wi10r$ tnt directy to the CSSBI thite. ts other Iwo thirds were split equally between Turn2us website or Google's 'Search fL¥ Grant5'. Thwe re 838 18SXII hits to our website, an)und fOO1701 hits per month until cbsuFe, well up on th8 previou5 y88r. OF th85e 12311101 applicati(5 for assista1. Of these 56 1531 were supported for grants but 67 1571 not alle to be helped due to their ¥equestg not being within our remit, not completing the form or sendiro fv corre¢l infwnation. rK)t being able lo provide suitatAe r8feren(%s or were not considered necessftous. In rare cases it has been diffiuAt to establish and when thi$ happens th8 tNsteès hav8 exefcised their dIScr8ti. Grant5 avrdrded thi5 year we ft¥ highef arTKNJnts arKS tsften for mc¥e than on& item when compared to th8 prèvt(MJS year. Over the years the trustees have trd lo make the Charity mrrfg visible lo a gr9ateT numbgr ol p90e by enhancing thelr PLtblicily and commun8.0$. (Ktr Adfnini$tr8tor h8s kept in twch wth many rw)le in various organisations, as Tum2us and the Church of England. The website. %vw.cssly.co_uk is secure and robust and it &Yapts and resizes to diS8Y c(xreclly desktops. tablets and smart phones. The *th"te is monitored regularfy and utmlated as appropriate. Th8 trustees have v8ry rnuch appr8cTrat8d the maY Cards. emai and ihank-you notes from successtvl aptantS who have been helped in various ways. They are eaSed that the CSSBI has rnade a drfterence to the lives of rnany people this year, by, for examF4e. granty'ng financial aKI frK'. o Counal Tax. m(rtgage. nt ub.lrty artears o Council T8x li8bilily orde o Rent arrears to prevent e1(¥) o Modificalions to ba¢hrocffjs for retired ieachers wth rTrJbdty issues o Replacement boiler for family with young chik1Tr o Food vouchers for families with youn9 ¢hit(Jren o Vouch8rs Icy household furnishings o Clothiw vouchers for teacher due tr) cessath" of supKty th thje lo ilness o Finanual asSistsre o Re Jacement wndows for farnily lIh unwell o Deposit and nI in advance lo enable tethr to move to a mrxe affudatrle property. Paoe 3
CHURCH SCHOOL TERSAND FOR THE YEAR ENDED 31 MARCH 2024 FINANCIAL REVIEW Financial position Financial figur8s At close 31 st Mèrch 2024 Barclays deposit £6.008.29 Barclays current £83.204.51 Depc>&15 I th8 deposit account5, apart from Sha*. ¢A05ed by 31st March 2024 Shawbrook £84.945.37 al 3110312024 Inveslments Quilter Cheviot £ I.S.828.00 Quilter £1,197,291.56 There were no regular rnonlhly wthdraw8ls fr(xn either account from 0110412023. There wer8 thr8e individual withdrawals from Quilter Cheviot shovdft bejov. £12.000 on 0611112023 £10.0(K) on 1911212023 £20,0(K> on 07102 2024 The CSSBI originally grew out ol the needs of retiring ieachers and Iheir famlEs vknen they fell on hard limes. The hanly's mode¥n-day r(Ae has o)ntinued to pwde financial heFp for th)se in nY as defined in the CSSBI ArtleS of Assoaation. Th8 CSSBI is in 8 financTr81 Kx)sibM of str•. generaied by the invested 8ssets 8nd e8sh on dep)sit, rè81ised by the sale of their care home. Glen Arun, in 2tM19. As 8 result, the charity invited Ihose in need lo pul forwdrd rd8V8nt detai15 of their situation and thy th8y needed financial supp(Mt lor consideration by Ihe trustees of th8 charity. The ath"Iqties of th6 CSSBI. in terms ol l)olh fuifilliryj successful grant apIcall0ns and the administrativè requirements of the chanty, have been funded by montt)ty %Mthdravrals from the M investsnent kKTrrtfolios on an equal basis. Th8 s81ected portfolio of Unit Trust Funds hekl on th8 (Xd Mutual Weamh platrorm are m8nag8d by 8 ran98 of fund managers ac¢ording to the individual fund profiles. This portfolio is now kno as the Quilter rM)rtfolio and continues to be held as a General Investment A¢¢wnt on the ljd Mutual Wealth plaffom7_ The Quilter Cheviot portfolio is managed on a discretionary basis. Investing largely in direcuy sic$ and shares. The combinats.on of these approaches to investm8llt decisions has wovided a balanced and divètsillod swead of assets that hava weathered tha changès in Ihe economic, FX)litirA and investment enVirMentS both in UK and globalty. As a result. the CSSBI vras able to SUFWrt $6 of the 123 wpliCalS for grants made duriThJ Ihe year ending 3181 March 2024. Prfnclpal fundlnp $our¢es The principal funding source lor the activitie5 Qf thg Charity wrill be the regular wthdravrals from ca1 combined with any naturalty arising income re appropriale from the cash on dep(6it and wlhin investment portfolios. Pa9e 4
RCH SCHOOLM TERS AN ' BENEVOL T INSTITUTION REGISTERED NUMBER: 00041482 TRESS FOR THE YEAR ENDED 31 MARCH 2024 FINANCIAL REVIEW Rèserves pollcy The tharity has tolal Feserves of £2,344,649 at 31st Marth 2024.12023. £2,258.083 The principal funding source lor ttte activibes of the charity has been the regUr withdrawds from caprtal combined with any naturally arising Income where apprOPrte from the cash on deposit and wthin the Investment portfdios. As closure was exp8ci8d, the Resèrves Pdicy agre by Ihe trustaas for financial year ènding 31 March 2024 was modified and most of Ihe long-term d9POStt aw)unts re closed. The p)licy had been'.- 11 to hdd up to 20% of the combined cash and iiveslrnent p(rfolio on der¥)sit for tx)Ih Th)rnl running cost$ and the distribution ol grant5. 21 for cash deposits to be maint8ined as lar as Wds ial4e. b8aring in mirKI the v8ry1(M rat8 of inler8sI being applied to the CSSBI accounts. 31 for the remaning 80Vo io be invesled in a bro1 spread of assets comtmning bolh fixed interest and equity-based hddings with a geographical S1t that woulL1 represent a realistic apwoach to investment nsk and reward. 41 to rnaintain th8 larg8t grobvth levd for Ihe captal invested at 3.5% jlrS thp Consumer Price Index tt)en standing al 1.5% for the corning year. (herAII. a b8nce corbtinues to be sought beiween the neèd for t8ptal growth and the requirernenl for ndIng the grants. 51 that the mMthly Irustees, meetiTrJ 911 the cash dewjsit Jevels snvestrnent capital values along8id8 thè political landscape as il changes. 61 tral all vanations In the value of grants awarded. runniThJ o)sts arm1 inftation vll be here considered appropriate. against a benchmark of a Ihree-year average. an(J appropriale aclion taken. 71 Ih8t the pr(Ke5s of drawing down cawlal on a rnonthly basis wa5 d15continued and Ihe fundiww ¥equired lor Ihe grants atKI the admirlslratwe running costs has been deatt th n9 rAsh detx)sts. Having reviewed the {erforn)are of the total portfdk). as as the investmenl tera, the twsiees Ere $8tisfied there was no need for change excepl to close the bank deposit aco)unts. However. onwng Mmit"n9 ol the financial strenglh of thè charity coniinutd on a monthly basis at ihe Irustses. meetings. The total value of 811 th8 assets remain8d strory and Ihe CSSBI. thugh dosiry. was in a gLxI p05ibon financially to hdp those in need, with established pro¢edure8 to ensu that an trans1•$ and wiects were properfy auth0ris8d. STRUCTURE. GOVERNANCE AND IAANAGEMENT Gov•rning do¢um•nt The charity 18 controlled by its goveming ¢knJnt. a deed of Injst. and o)nstrtutes a limiied c(xnpany, limited by guarantee, as defined by the C1pan8 Act 20(. Charity constitution Th8 Church Schoolmasl•fs and Schoc4mistresses' Benevclent Institu1 ICSSBII was established on 2nd January 1857, becoming a charitètAe company limrted by guarantee in June 1894. 11 is contrdied by its goveming document. a deed ol trust. and cort5ts'1ute5 a limited company. limit8d by guarantee. as d8fin8d by the coMpanS act 2006. Cornpany number. 41482. The Irustees are 41 guaranlors in a Sum not exceedry £1 each. Recruitment and appointment of new trustees New Council mernbers ar8 recommermjed lo the CSSBI CtyJnel by c¥Jrrenl m8mbers or by ILKal d8rgy. It is pferable, but nol altogether nec8SSary, that they have a b8ckgrourKI in e(lur3tK>n. The CIMJnciI MSt approve the nominatKJn before the person tskes up the resrA)nSIbIlY ol a truslee. The Instees become rnemb8rs of the CSSBI Counul. They are 5p$ibLe for Ihe general coBtr(4 and management of the chanty. Th8y decid8 whal lo be th)ne and how money is 10 be d¢5tritMJt8d to those in need. They deal wth applicati¢Ms as they arv&e. have a meetlWV. USU8lly by email. Rl8k management The trustees keep proper accouniiNJ rÈeorils io en9j that thth"r financi statements cOmY with the Companies Act 2006. They are responsible for the preparat# of the accounts. They also rnake sure that they undersland and take rèsponsibility for safeguarding the assets of the charity- They lake 8$00?e sleps for the PventIon and detection of Iraud and other iTregulanties. The trustees revi8w finanual and other iisks when appropriate. and have established pr(Kedures to ensure Ihat all trans8Ctions and projeds are properfy auth0ri5ed. Their actions irTrdude develotxng policies and pr(K8dures lor many areas. such as delence against cyber-allad(, malic*)u$ disruption and MaKVa. Other pd1¢$ and wo¢edures indude managin9 complainis. general data pro¢ecbon. priva¢y. safeguarding. rtsk assessment and conffict of interesl. Al are r8viewed on a rewlar ba5. The trlEe$ wrote a new tvJsiness plan, findised in July 2021. Approved by order of the trf)ard of trustees on 20 Novemtw 2024 and on its b8h8lf by.. Page 5
CHURCH 00 STERS AND MISTRESSES, BENEVOLENT INSTITUTION EGI SCHOO R.. 00041482 TH YEAR ENDED 31 MARCH 2024 Miss O B811- Trustee 20 /,,Is Page 6
Ind ndent Exarningr's Re rt to the Trustoes of Church Schoolmasters And S hoolmlstrÈsses' Benevolent Instliutlon Independent examlnerfs report to the trustees of Church Schoolma$ter5 And Schoolrni5tresses' Benevolent Institution (Yhe Compan) I report lo the charily Iruslees on my examinab.on of Ihe ¢ntS ol the Company for Ihe year ended 31 March 2024. R•5ponslblllties and basls of r•port As the ¢harily's trustees of the Company land also its drrectors for Ihe wrrx)ses ol c(¥npany lawl you are responsible for the pParatIOn of the aCcnIS in accordan wlh the wuirements of Ihe Companies Act 20(b llhe 2006 Acl'l. Having satisfied myself that the accounts of Ihe Company are not Tequired to be atsdit8d under Part 16 01 Ihe 2006 Act and are eligible for in(JepeF)dent examinatson. I retx>rt in respect of my examination of your Charitys accounts as r£rried oLtI urfer Section 145 of the Charites Act 2011 I'the 2011 A¢f l. In caryng out my examtnatim I have follow8d the 01CtIonS given by the Charily C(mmIss under secb.on 145151 Ibl of Ihe 2011 Act. Independent trxaminerfs stst•m*nt I have completed my exarninalion. I confirm that rnatters have corne to my attenlK)n in confieclion with Ihe examination giwng me cause lo believe.. accounling records r not kept in respoct ol the Company as by Sectw)n 386 01 the 2006 Act." or the accounts do Trot accord wrth those records", or the aecounts do not comply with th8 accnting r8quirem8nis of S8ction 396 of the 2(X)6 Act other than any requirement that the accounts give a tnje and fair wew rK)l a m8tt8r considered 8S Part of èn independent examinati. or the accounts have not been prepa in aco)rdance wth the metkmjds and princie$ of the Statemenl of Recommended Praciice for accountin9 rerMy15"rKJ ty charities lapplicae to charits'es preparing their accounts in accordance Ihè Finan(ial Rew)rting Slandard apFAKatAe in ihe UK and ReputAic of Ireland IFRS 10211. I have no concerns a1 have (ome a0$$ othef mallers in conne¢1)n vAth the examinatK)n to %thi¢h attention should be drawn in thi5 report in order lo enable a woper underslanding of Ihe accounts to be 3¢hed. Scotl Harrower Galloways ActntIng First Floor Ridgeland House 15 Carfax Horsham West Sussex RH12 10Y 20 November 2024 Page 7
CHU OOLMASTERS AND TINS t8ment of Fin ncial FOR THE YEAR ENOED 31 MARCA 20 31.3.24 Unrnstrl¢t fund 31 3.23 Total funds INCOME AND ENL)OWMENTS FROM Donat*)ns and lega¢ 1.300 Investrllent incorne Other in¢ome 64.278 54,535 Totsl 64.478 55.835 EXPENDtruRE ON Raising funds 21.033 21,779 Charltable actlvltl85 Beneficiary support 180,675 161.380 Total 201,708 183,159 Net gainslllossesl on inveslments 223.796 1179,0471 NET INCOAIEIIEXPENDITUREI 1306.3711 RECONCILIATION OF FUNDS Total fvnds brought foTh¥ard 2.258.083 2.564.454 TOTAL FUNDS CARRIED FORWARD 2.344,649 2.258,083 The rKJteg IrAm part ol these financial ststernents Page 8
CHUR H SCHOOLMA TERS AND SCHOOLMISTRESSES. BENEVOLENT INSTITUTION REGISTERED NUMBER.. iW1482 anc Sh 31 MARCH 2024 31.3.24 31.3.23 Totsl funds Unrestricted fund Notes FIXED ASSETS Irbvestments 2.203.119 1,984,080 CURRENT ASSETS Debtors Cash at bank and in hand 10 2,395 174.159 4.115 284.189 176.554 288,304 CREDITORS Amounts faIng due within one Jear 11 135.0241 114.3011 NET CURRENT ASSETS 141.530 274,003 TOTAL ASss LESS CURRENT LIAWLrriES 2,344,649 2.258,083 NET ASSETS 2,344,649 2.258.083 FUNDS Urbrestri¢ted funds 13 2.344649 2,258.083 TOTAL FUNDS 2,344,649 2.258.083 The charItae company is gnti119d to ex8rnption from auilit und9r Sectiw 477 ot C(Mnpanie5 Act 2(X)6 lor thè year ended 31 March 2024. The members havÈ not required the company to obtain an audlt ol its finanoal statements for the year eNled 31 March 2024 in accordance ith secti 476 of the Cornpanies Act 2006. The trustees adETh)kn4ed9e their pOnsI1it1es for ensuring that the charitable company keeps n"Thj records that c(xmply wlh Secttons 386 and 387 of the Companies Act 2006 antl preparing finala1 stalem8nts which giv8 a true and fair vi8w ol the stat8 of affairs ol th8 chariiable eompany as at the end of each fin8ncN81 year ar of its suryAus or defictt for each financial year in accordar wth the ouiremenls of Se¢tM)n$ 394 and 395 and which olhemse ComY with the requirements of the Companies Act 21J)6 rdating to finarrial ststements. so far as apF4lcae to the charitabl8 cajmpany. Ibl These financial sfal8m8nts have been prepared cordance ¥*ith th8 pfovisK)ns SpicAbl9 10 th8rit8ble companies subject to th8 small companies regirne. The financial statements approved by the 8oard of Trustees and aulhcwised for issue on 20 November 2024 aThl r8 swJned on its behaw by.. Miss D Bell - Ttustee The noles fonn parl of these financia statements Page 9
URCH SCHOOLMAST RSAN SCHOOLMISTRESSES. BENEVOLENT INSTITUTION cial S FOR THE YEAR ENDEO 31 MARCH 2024 ents ACCOUNTING POLICIES Ba815 of preparing the tinan¢lal stat•m•nts The finanoal slatemenis ol Ihe charitable company. ts a bgnefit entsty under FRS 102, have bn prepared In accordan swth the Chantyes SORP IFRS 1021'Accounting and Reporting by Charities.. St&tement of Racomrnendod Practice applicable to chanties propanng their acc(xJnts in accordance wth the Fin8ncial Reporting Standard applicatle in the UK and Reput41¢ tsl Ireland IFRS 1021 (effective l January 20191,. Financial RertIng Stsndard 102 The Financi81 Rew)riir¥J Standard applicable in th8 UK and Republic of Irdand, and the Companies Act 20(6. The financTral statements have prepared Ltnderthe historical cost convention. wilh the eXPIlo of investmenls w4)ich a induded at maFket value, as modified by the revaluation of certain assets. Income l inwm9 s recogni58d in th8 S13tement of Fin3rKial Actimties once the Charity has ents"dement to the funds, il is probable that the income VAII be Ce1ved and Ihe amount oan be measured reliably. Exptnditute Liabilities are r8cogni58d as expèrKliluffj as soon as lh¢ is a 16gal or C$t(uctsve obligation commitbng the charity lo that expenditure. it is proba9 th8t a transfer of econornic benefits will be reqUId in settlement the amount of the 019allOn Can be measured reliably. Expenditur8 is accounled for on an accruals basis and has bgen dassifr.ed un¢er l*adirgs that aggr8g8te 811 cost rda18d to t118 C8tegory. Where costs cannot be directly attnbuted to particular headings Ihey have been alIcted to acti¥hlies a basi5 consistent wlh the use of r8soure8$. Grants offered subject lo coTh2rtions vthich ha not b6en met at tho eThJ dale are noted as a commitment bul nol accrued as expendilure. Tanglble fixed assets D8preci8tion is provided at Iha foll(NAng annual rates in order to lte off each asset over its esbmated useful Computer equipment 33% cost Taxallon The charity is exerTVt from cOrpat lax its charttatle acbvilies. Fund accounting Unrestricted lunds can be used in acwdartce with the charilable JectiVeS al the dis(x8ÉK)n of the trust8&S. R8$1rieled funds can lY be usod for parts"uJlar restn.cled purposes within Ihe objects ol the ¢hanty- Restrictions arlso then specified by the donor Oren funds ale raised for partIClar tried purp)ses. Further exF4anaticm of the nature and wrt¥)se of each IWKI is iFKluded in Ihe notes to t1 financial st8t6ments. Hlre purchase and leasing ¢ommltments Rentals paid uThler operating le85es are Cha to the Statement of Finanaal AclNities on a straight line basis over the p9ri0d of the lease. INVESTMENTINCOME 31.3.24 31.3.23 Investment inwme Deposit account interest 58.467 5.811 53,405 1.130 64,278 54,535 Page10 continued...
CH RCH MISTRESS TER ENTI SCHOO stateme FOR THE YEAR ENOED 31 MARCH 2024 inued RAISING FUNDS InstMent managernent costs 31.3.24 31.3.23 Portfdlo managoment 21,033 21,779 SUPPORT COSTS Govomance costs Managerwl Finance Tolals Benefiriary supporl 46.656 47.602 NET INCOMEIIEXPENDITURE) Not incomelloxpanditurol Is stated aftof ChargiThylcrediJI." 31.324 31.3.23 DeprecialK)n- owned assets Hire of plant and machinery 200 1.108 990 TRUSTEES. REMUNERAnoN AND BENEFITS There here no trustees. remune¥atth or other benefits forthe year ended 31 Ntsrch 2024 nor for the year ended 31 March 2023. TN¥tB•s' •xp•nsos There were £0 of ey4)enses rmIMIrSed dlry year12023'. £1.408.801 COMPARATIVES FOR THE STATEMENT OF FIIIANCIAL ACTMnES Unrestricted fund INCOME AND ENDOWMENTS FROM Donats"ons and logac$ 1.300 Inv8slment inco¥ne 54,535 Total 55.835 EXPENDrruRE ON Raising funds 21,779 Charhable tIVItIeS Beneficiary support 161,380 Totsl 183,159 Net gainsluossesl on investments 1179,0471 INCOMEIIEXPENDrruREI (306,3711 Page 11 continued...
CHURCH SCHOOLMASTERS AND SCHOOLMISTRESSES. BENEVOLENT INSTITUTION teme . contlnu FOR THEYEAR ENDED 31 MARCH 2024 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVmES- ¢ontlnued Unrestri¢led fund RECONCILIATION OF FUNDS Total funds brought forward 2.564,454 TOTAL FIINDS CARRIED FORWARD 2,258,083 TANGIBLE FIXED ASSETS Compuler equipment COST Al l April 2023 and 31 Marth 2024 599 DEPRECIAnON At 1 Aprfl 2023 and 31 Mar¢h 2024 599 NET BOOK VALUE At 31 Marth 2024 At 31 Maich 2023 FIXED ASSET INVESTMEt4TS Listed inveslrnents PIARKET VALUE Al 1 April 2023 Additions Disposals Revaluations 1,984,080 110,934 1149.3701 257,475 At 31 March 2024 2,203,119 NET BOOK VALUE At 31 March 2024 2.203.119 Al 31 Mar¢h 2023 1,984,080 Analysis of investments". 31.3.2024 2.10% 17.33% 9.01% 18.76° 46.46% 6.35% 31.3.2023 3.81% 17.70% 7.46° 16.90% 46.52% 7.63% Cashlmoney Market Fixed Inler8sl- UK Fixed In1est- Overseas Equits'es. UK Equities- Oversèas other Cost or valuality) al 31 Maf¢h 2024 1$ rewesented by.. Listed Inv8slment5 Valuation in 2024 2,203,119 Page 12
CHURCH SCHOO SCHOOLMISTRESSES. BEN VOLE nts- ConTrued FOR THE YEAR ENOEO 31 MARCH 2024 FIXED ASSET INVESTMENTS- contlnu If fixed assel investments had not tn revduad Ih8yM)uld ha¥e b8en inrAuded at Ihe fol>wng historicd cost.. 31.3.24 31.3.23 1,671.754 1,675,451 Fixed asset inveslments were valued on an op8n markei t)asi8 on 31 Marth 2024 by Asc4)l Lloyd. 10. DEBTORS.. AMouKfs FALUNG OUE iyrrHIN ONE YEAR 31.3.24 31.3.23 Otherdebtors Propayments 1.350 1,045 1,350 2,765 2,395 4.115 11. CREDrroRS.' AMOUNTS FALUNG DUE WITHIN ONE YEAR 31.324 31.3.23 Trade creditors Olh8f creditors Accrued expenses 900 21.150 12.974 4,199 10.102 35,024 14.301 12. LEASING AGREEMEPfft8 Min+mum leas& payrnents under ranceaIe operaliry leases fJl due as follows.. 31.324 31.3.23 Within ore year Between one and five years 662 062 1.545 13. MOVEMENT IN FUNOS Net mov8rn8nt funds At 31.3.24 At 1.4.23 Llnr•strlctgd funds General fund 1258.083 2,344,649 TOTAL FUNDS 2258.083 2,344.649 P8ge 13 )nUed...
CHURCH SCHOOLMASTERS AND MISTR SSES. B NEVOLENTI ancial Stat•ments- ¢0 FOR THE YEAR ENDED 31 MARCH 2024 13. mOvEMEP IN FUNDS- ¢ontlnu•d Net movement in fu1$. induded in the above ale as loltows.. Incoming resource5 Res(¥Jrces expended Gains and losse5 Movement in fudS Unrestrlcted funds Geral fund 64.478 1201.7081 223.796 86.566 TOTAL FUNDS 64.478 1201,708) 223,796 86.566 Comparatives for movamani In funds Net movemenl in funds At 31.3.23 Al 1.4.22 Unreslrlcled fund5 General fund 2.564.454 1306.3711 2.258,083 TOTAL FUNDS 2.564.4S4 I3[.371> 2,258,083 Comparative net movement in runts. included in Ihe above arg as Wows.. Incoming Resources expended Gains and losses Nlovement in funds Unrostrirted fund8 General lund 55.835 1183.1591 179.0471 1306.3711 TOTAL FUNDS 1183.1591 1179.0471 I3(.371) A current year 12 months aThJ prK)¥ year 12 mthS combined posibon is as follows.. Net rrK&vem8nt in lunds At 31.3.24 At 1.4.22 Unrestrlthd Ivnds General fuThl 2,564,454 1219,8051 2,344,649 TOTAL FUNDS 2.564.454 1219,8051 2.344,649 Page 14 conlinued...
CHURCH OOL 1ST SSES. ASTERS AND INSTITUTIO sc FOR THE YEAR ENDED 31 MARCH 2024 13. MOVEMENT Ihl FUNDS- continu8d A current year 12 months arKI y8ar 12 monlhs COmn•d n8t movement in ftmds. iluded in the abov8 are as foll(trws.' Incommig ources Resources expended Gai[ and losses Movement In fund5 Unrestricted funds General fuThY 120.313 {384,8671 44,749 1219.8051 roTAL FUNDS 120,3t3 1384,8671 44.749 1219.8051 14. RELATED PARTY DISCLOSVRES Ther8 were no rdated party tran5ac1lo for Ihe yearended 31 March 2024. Page 15