2020-09-30-accounts - Additional Curates Society

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Council and Trustees/Directors:	Council and Trustees/Directors:	The Revd Prebendary	David Houlding	David Houlding	David Houlding
		Mr Andrew Roberts	(Vice Chairman)
		The Right Revd Anthony		Robinson
		The Venerable lan Chandler
		The Revd Canon Steven Kirk
		The Revd Canon Kit Dunkley
		The Revd Damian Feeney
		The Revd Grant Naylor
		Mrs Alexandra Buckingham
		Mrs Mary Speight (council member only)
		Deacon Sarah Gillard-Faulkner
		The Revd Giles Orton	(appointed		16March 2020)
General Secretary:		The Revd Canon Darren Smith
Registered	Office:	16Commercial Street
		Birmingham
		Bl 1RS
Bankers:		Bank ofScotland pic
		55Temple Row
		Birmingham
		B25LS
Investment	Managers:	M&G Charities
		PO Box9038
		Chelm sford
		CM99 2XF
		CCLA
		Senator House
		85 Queen Victoria Street
		London
		EC4V 4ET
Independent	Examiner:	Nicholas Simkins FCA
		The Dower House
		Bonehill
		Staffordshire
		B783HX

				Restricted	Unrestricted	Total Funds	Total Funds
			Note	Funds	Funds	2020	2019
INCOME AND ENDOWMENTS		FROM:		g		g	g
Voluntary Income:
Donations Legacies				87,000	83,059	170,059	186,613 100,829
Other Activities to Generate Funds:				4,500	10,275	14,775	11,820
Turnover from sales ofprinting		and goods			95,864	95,864	149,438
Investment Income Bank Interest Received					142,581 381	142,581 381	135,485 147
Other					39,353	39,353
Total Incoming Resources				91,500	371,513	463,013	580,332
EXPENDITURE ON:
Costs ofgenerating funds:
Costs ofgenerating voluntary income Cost ofgoods and printing for sales				16,500	90,770 126,131	107,270 126,131	151,823 172,491
Charitable activities
Grants (including placement	grants)			56,457		56,457	87,695
Governance costs					4,537	4,537	5,350
Total Expenditure				72,957	221,438	294,395	417,359
Net Income/(Expenditure) before gains and losses			on
investments				18,543	150,075	168,618	162,973
Net (losses)/gains Irom investments					(228,304)	(228,304)	149,337
Net Income/(Expenditure)				18,543	(78,229)	(59,686)	312,310
Other recognised (losses)/gains
Actuarial (losses)/gains on deiined benefit
Pension scheme			13		(1,000)	(1,000)	10,000
Net movement in funds				18,543	(79,229)	(60,686)	322,310
Funds Brought Forward				34,704	4,704,378	4,739,082	4,416,772
Total Incoming Resources				53,247	4,625,149	4,678,396	4,739,082

Comparative SOFA for	2019	2019				Restricted	Unrestricted	Total Funds	Total Funds
					Note	Funds	Funds	2019	2018
								g
INCOME AND KNDOVVMKNTS				FROM:
Voluntary Income:
Donations						73,000	109,613	182,613	237,078
Legacies							100,829	100,829	9,382
Other							11,820	11,820
Activities to Generate Funds:
Turnover from sales ofprinting				and goods			149,438	149,438	229,752
Invesnnent Income							84,418	84,418	120,629
Bank Interest Received							51,214	51,214	29
Total Incoming Resources						73,000	507,332	580,332	596,870
EXPENDITURE ON:
Costs ofgenerating funds:
Costs ofgenerating voluntary Cost ofgoods and printing for			income sales			18,000	133,823 172,491	151,823 172,491	147,860 243,122
Charitable activities
Grants (including placement		grants)				87,695		87,695	95,239
Governance costs							5,350	5,350	4,789
Total Expenditure						105,695	311,664	417,359	491,010
Net Income/(Expenditure)	before		gains and losses		on
investments						(32,695)	195,668	162,973	105,860
Net gains from investments					8		149,337	149,337	132,507
Net gains on current asset invesnnents					10				68,086
Net Income/(Expenditure)						(32,695)	345,005	312,310	306,453
Other recognised (losses)/gains
Actuarial (losses)/gains on defined			benefit
Pension scheme					13		10,000	10,000	2,000
Net movement in funds						(32,695)	355,005	322,310	308,453
Funds Brought Forward						67,399	4,349,373	4,416,772	4,108,319
Total Incoming Resources						34,704	4,704,378	4,739,082	4,416,772

						2019
			Note	g
FIXEDASSETS
Tangible assets					707,443		602,417
Investments					3,880,095		4,055,499
					4,587,538		4,657,916
CURRENT ASSETS
Debtors			9	11,942		27,013
Cash at Bank and in	Hand			98,996		88,292
				110,938		115,305
CRKDITORSi Amounts		falling
due within one year			10	(16,080)		(28,139)
					94,858		87,166
Net Assets excluding	pension liability				4,682,396		4,745,082
Defined benefit pension scheme liability			13		(4,000)		(6,000)
Net Assets					4,678,396		4,739,082
FUNDS
Restricted Funds			15/16		53,247		34,704
Unrestricted Funds			15/16		4,625,149		4,704,378
Net Assets					4,678,396		4,739,082

						2020	2019
Cash flows from operating	activities:
Net income/(expenditure) for the reporting			period			(59,686)	312,310
Adjustments for:
Depreciation charges						26,058	25,620
Losses/(Gains) on investments						228,304	(149,337)
Pension fund movements						(3,000)	(3,000)
Dividends, interest and rents from investments						(142,962)	(135,632)
(Increase)/Decrease in debtors						15,072	1,930
Increase/(Decrease) in creditors						(12,059)	(1,594)
Net cash provided by operating activities						51,727	50,297
Cash flows from investing	activities:
Dividends and interest from	investments					142,962	135,632
Proceeds on disposal ofinvestments						279,538	193,483
Purchase offixed assets Purchase ofinvestments						(131,084) (279,538)	(15,000) (543,483)
Net cash provided by/(used	in) investing		activities			11,878	(229,368)
Change in cash and cash equivalents		in the reporting			period	63,605	(179,071)
Cash and cash equivalents at	the beginning		ofthe period			229,732	408,803
Cash and cash equivalents	at the end	ofthe reporting			period	293,337	229,732
Cash and cash equivalents at	the end of	the	reporting	period comprises:
Cash at bank and in hand						98,996	88,292
Cash held on invesnnent						194,341	141,440
						293,337	229,732

		2020		2019
		Unrestricted	Restricted	Unrestricted	Restricted
			g	g
Institutional (2019 - 5)	grants made for the support ofclergy: 4		37,000		49,500
Parochial Church Councils —13(23 in 2019)			19,457		38,195
			56,457		87,695

			Voluntary	Printing,	Total	Voluntary	Printing,	Total
			Income	Activities	2020	Income	Activities	2019
				and			slid
				purchases			purchases
				for re-sale			for re-sale
Organising expenses Staffcosts Costs ofprinting activities and			11,099 47,837	54,354 52,632	11,099 102,191 52,632	31,646 38,625	65,430 71,086	31,646 104,055 71,086
goods for sale
General office expenses			3,671	1,835	5,506	30,627	15,313	45,940
Postage			1,224	11,018	12,242	1,485	13,361	14,846
Telephone			1,613	3,226	4,839	1,645	3,290	4,935
Gas, electricity and		water	3,747	3,066	6,813	4,901	4,011	8,912
Professional	fees and bank		2,121		2,121	2,774		2,774
charges
Property repairs and		expenses	9,753		9,753	8,396		8,396
Vocations			147		147	6,104		6,104
Depreciation:
Freehold	property		2,157		2,157	1,857		1,857
Leasehold	property		2,747		2,747	2,747		2,747
Office furniture		and	21,154		21,154	21,016		21,016
equipment
			107,270	126,131	233,401	151,823	172,491	324/ 14

			2020	2019
Independent	Examination		3,300	3,200
Council Meeting and members		expenses	1,237	2,150
			4,537	5,350

STAFF COSTS
		2020	2019
		g
Wages and Salaries (including Social Security Costs Pension Costs	benefits in kind)	90,228 4,641 7,322	90,558 6,469 7,028
		102,191	104,055

				2020	2019
Support	ofthe	charitable	activities	No 1	No 1
Trading				2	3

TANGIBLE FIXEDASSETS	TANGIBLE FIXEDASSETS
		Leasehold	Freehold	Furniture dr	Total
		Property	Property	Equipment
			g
COST
1 October 2019		380,500	107,825	209,652	697,977
Additions			130,391	693	131,084
Transfer		15,000	(15,000)
30September 2020		395,500	223,216	210,345	829,061
ACCUMULATED	DEPRECIATION
1 October 2019		6,181	37,133	52,246	95,560
Charge for the year		2,747	2,157	21,154	26,058
Disposal
30September 2020		8,928	39,290	73,400	121,618
NET BOOKVALUE
30September 2020		386,572	183,926	136,945	707,443
30September 2019		374,319	70,692	157,406	602,417

INVESTMKNTS
	2020	2019
LISTEDINVESTMENTS:	g
Market value at 1 October	3,764,058	3,264,721
Acquisitions at cost	279,538	543,483
Sales proceeds for disposals (Loss)Igains in the year	(279,538) (228,304)	(193,483) 149,337
Market value at 30 September	3,535,754	3,764,058
National Savings Income Bonds	150,000	150,000
Cash held for investments	194,341	141,441
	344,341	291,441
Total as at 30 September	3,880,095	4,055,499
	2020	2019
The historic costofinvestments	2,405,512	2,225,974

DEBTORS
		2020	2019
Trade Debtors		4,395	2,143
Prepayments		3,209	2,875
Legacies Receivable			11,498
Other Debtors		4,338	10,497
		11,942	27,013
CREDITORS: Amounts	falling due within one year
		2020	2019
			f
Trade Creditors		23	13
Accruals		16,057	28,126
		16,080	28,139

	2020	2019
Within one year	3,168	3,168
Between two and five years	4,752	7,920
More than five years
	7,920	11,088

			Jan 18to	Jan 21to
			Dec 20	Dec 22
Deficit	repair	contribution	11.9'/o	7.1'/o

			2020	2019
			g
Balance	as at 1 October		6,000	19,000
Deficit contribution paid Actuarial (gains)/losses recognised through		SoFA	(3,000) 1,000	(3,000) (10,000)
Balance	as at 30 September		4,000	6,000

		2020	2019	2018	2017
		'/o p.a.	'/o p.a.	'/o p.a.	'/o p.a.
Discount rate		0.2'/o	1.4	1.5	1.1
Price inflation		3.1'/o	8.0	3.1	2.8
Increase to total pensionable	payroll	1.6'/o	1.5	1.6	1.3

ANALYSIS OFNKT ASSETSBETWEEN	FUNDS
		Restricted	Unrestricted	Total
		Funds	Funds
		g
Tangible Fixed Assets			707,443	707,443
Investments			3,880,095	3,880,095
Current Assets		53,247	57,691	110,938
Current Liabilities Pension Liability			(16,080) (4,000)	(16,080) (4,000)
		53,247	4,625,149	4,678,396
FUNDS
	Balance at	Incoming	Outgoing	Balance at
	30Sep 2019	Resources	Resources	30Sep 2020
Restricted
Grants and Vocations StAnne's, Derby Con&aternity ofthe Blessed Sacrament	11,302 23,402	55,000 32,000	(56,457) (12,000)	9,845 23,402 20,000
Church Union		4,500	(4,500)
	34,704	91,500	(72,957)	53,247

Unrestricted funds
At 1 October 2019	4,704,378
Incoming resources	371,513
Outgoing resources	(221,438)
Other gains/(losses)	(229,304)
At 30 September 2020	4,625,149