2021-09-30-accounts - Additional Curates Society

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Council and Trustees/Directors:	Council and Trustees/Directors:	The Revd Prebendary	David Houlding
		Mrs Mary Speight (Vice	Chairman)
		The Right Revd Anthony	Robinson
		The Venerable Ian Chandler
		The Revd Canon Steven Kirk
		The Revd Canon Kit Dunkley
		The Revd Damian Feeney
		The Revd Grant Naylor
		Mrs Alexandra Buckingham
		Mr Andrew Roberts
		Deacon Sarah Gillard-Faulkner
		The Revd Giles Otton
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&GCharities
		PO Box9038
		Chelmsford
		CM992XF
		CCLA
		Senator House
		85Queen Victoria Street
		London
		EC4V 4ET
Independent	Examiner:	Nicholas Simkins FCA
		The Dower House
		Bonehill
		Staffordshire
		B783HX

SOFA FOR 2021						Restricted	Unrestricted	Total Funds	Total Funds
					Note	Funds	Funds	2021	2020
								g
INCOME AND ENDOWMENTS FROM:
Voluntary Income:
Donations						12,000	163,193	175,193	170,059
Legacies							54,643	54,643
Other							25,445	25,445	14,775
Activities to Genemte	Funds:
Turnover trom trading		activities					92,154	92,154	95,864
Investment Income							143,035	143,035	142,581
Bank Interest Received							284	284	381
Other							49,602	49,602	39,353
Total Incoming Resources						12,000	528,356	540,356	463,013
EXPENDITURE ON:
Costs ofgenerating funds:
Costs ofgenerating	voluntary			income		12,000	140,921	152,921	107,270
Cost oftrading activities							109,910	109,910	126,131
Charitable activities
Grants (including placement			grants)			20,000	38,960	58,960	56,457
Governance costs							3,465	3,465	4,537
Total Expenditure						32,000	293,255	325,255	294,395
Net Income/(Expenditure)		before		gains and losses	on
investments						(20,000)	235,101	215,101	162,973
Net (losses)/gains from	investments						630,371	630,371	(228,304)
Net Income/(Expenditure)						(20,000)	865,472	845,472	(59,686)
Other recognised (losses)/gains
Actuarial (losses)/gains	on defined			benefit
Pension scheme Gain on revaluation offixed assets					13 7		372,094	372,094	(1,000)
Net movement in funds						(20,000)	1,237,566	1,217,566	(60,686)
Funds Brought Forward						53,247	4,625,149	4,678,396	4,739,082
Total Incoming Resources						33,247	5,862,715	5,895,962	4,678,396
The notes on pages 13to	24 form		part ofthese financial statements.

COMPARATIVE SOFA 2020	COMPARATIVE SOFA 2020	COMPARATIVE SOFA 2020	COMPARATIVE SOFA 2020		Restricted	Unrestricted	Total Funds	Total Funds
				Note	Funds	Funds	2020	2019
						g	g
INCOME AND ENDOWMENTS FROM:
Voluntary Income:
Donations					87,000	83,059	170,059	186,613
Legacies								100,829
Other					4,500	10,275	14,775	11,820
Activities to Genemte	Funds:
Turnover from trading		activities				95,864	95,864	149,438
Investment Income						142,581	142,581	135,485
Bank Interest Received						381	381	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		16,500	90,770	107,270	151,823
Cost oftrading activities						126,131	126,131	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 &om	investments					(228,304)	(228,304)	149,337
Net Income/(Expenditure)					18,543	(78,229)	(59,686)	312,310
Other recognised (tosses)/gains
Actuarial (losses)/gains	on defined 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

					2021	2020
Cash flows from operating activities:
Net income/(expenditure) for the reporting		period			1,217,566	(60,685)
Adjustments for:
Depreciation charges					37,102	26,058
Losses/(Gains) on investments					(630,371)	228,304
Pension fund movements					(2,000)	(2,000)
Dividends, interest and rents &om investments					(143,319)	(142,962)
(Increase)/Decrease in debtors					(36,934)	15,072
Increase/(Decrease) in creditors					(4,143)	(12,059)
Losses/(Gains) on fixed assets					(372,094)
Net cash provided by operating activities					65,807	51,727
Cash flows from investing activities:
Dividends and interest from investments					143,319	142,962
Proceeds on disposal ofinvestments					150,000	279,538
Purchase offixed assets Purchase ofinvestments					(64,689) (460,000)	(131,084) (279,538)
Net cash provided by/(used in) investing		activities			(231,370)	11,878
Change in cash and cash equivalents	in the reporting			period	(165,563)	63,605
Cash and cash equivalents at the beginning		ofthe period			293,337	229,732
Cash and cash equivalents at the end	ofthe reporting			period	127,774	293,337
Cash and cash equivalents at the end of	the	reporting	period comprises:
Cash at bank snd in hand					68,668	98,996
Cash held on investment					59,106	194,341
					127,774	293,337

Freehold	residential	property	2'/o
Leasehold	office building		Lifeoflease
Office furniture and		equipment	10'/o
Computer	equipment		20'/a

			2021		2020
			Unrestricted	Restricted	Unrestricted	Restricted
Institutional (2020:4)	grants made for the support ofclergy:	3	12,000	20,000		37,000
Parochial Church Councils —14(2020:13)			26,960			19,457
			38,960	20,000		56,457

				Voluntary	Printing,	Total	Voluntary	Printing,	Total
				Income	Activities	2021	Income	Activities	2020
					and			and
					purchases			purchases
					for re-sale			for re-sale
Organising expenses				8,292		8,292	11,099		11,099
Staffcosts				76,448	28,611	105,059	47,837	54,354	102,191
Costs ofprinting activities and					58,113	58,113		52,632	52,632
goods for sale
General office		expenses		17,101	8,550	25,651	3,671	1,835	5,506
Postage				1,181	10,633	11,814	1,224	11,018	12,242
Telephone				977	1,954	2,931	1,613	3,226	4,839
Gas, electricity		and	water	2,504	2,049	4,553	3,747	3,066	6,813
Professional	fees and bank			1,453		1,453	2,121		2,121
charges
Property repairs and			expenses	6,940		6,940	9,753		9,753
Vocations				924		924	147		147
Depreciation:
Freehold	property			13,200		13,200	2,157		2,157
Leasehold	property			2,747		2,747	2,747		2,747
Office furniture			and	21,155		21,155	21,154		21,154
equipment
				152,921	109,910	262,831	107,270	126,131	233,401

			2021	2020
Independent	Examination		3,465	3,300
Council Meeting and members		expenses		1,237
			3,465	4,537

STAFFCOSTS
		2021	2020
Wages and Salaries (including	benefits in kind)	91,092	90,228
Social Security Costs		5,444	4,641
Pension Costs		10,523	7,322
		107,059	102,191

		2021	2020
		No	No
Support ofthe charitable	activities	1	1
Tradmg		2	2

Original	value ofproperty	f107,825
Additions		5180,080
Revaluation uplifi		5372,095
Revalued	amount	Z660,000

INVESTMKNTS
	2021	2020
LISTEDINVESTMENTS:
Market value at 1 October	3,535,754	3,764,058
Acquisitions at cost	460,000	279,538
Sales proceeds for disposals (Loss)Igains in the year	630,372	(279,538) (228,304)
Market value at 30 September	4,626,126	3,535,754
National Savings Income Bonds		150,000
Cash held for investments	59,105	194,341
	59,105	344,341
Total as at 30 September	4,685,231	3,880,095
	2021	2020
	g	g
The historic costofinvestments	2,715,512	2,405,512

Investme	nts in individual entities held at 30	September 2021 which are over 5%ofp	ortfolio by value are:
88,717	M&G Charifund Income Units		1,364,012
89,366	CBFChurch ofEngland Investment	Fund Income Units	1,975,561
51,223	CBFChurch ofEngland Investment	Fund Income Shares	1,132,370

9.	DEBTORS
			2021	2020
	Trade debtors		4,395	4,395
	Prepayments		3,622	3,209
	Legacies receivable		33,000
	Other debtors		7,767	4,338
			48,874	11,942
10.	CREDITORS: Amounts	falling due within one year
			2020	2019
			g
	Trade creditors			23
	Accrnals		11,937	16,057
			11,937	16,080

	2021	2020
	g
Within one year	4,181	3,168
Between two and five years	4,876	4,752
More than five years
	9,057	7,920

					2021	2020
					g
Balance	as at 1 October				4,000	6,000
Deficit contribution paid					(2,000)	(3,000)
Actuarial	(gains)/losses	recognised	through	SoFA		1,000
Balance	as at 30 September				2,000	4,000

		2021	2020	2019	2018
		'/o p.a.	'/o p.a	'/o p.a.	'/o p.a.
Discount rate		0.0'/o	0.2	1.4	1.5
Price inflation		n/a	3.1	8.0	3.1
Increase to total pensionable	payroll	-1.5O/o	1.6	1.5	1.6


15.	ANALYSIS	OFNKT ASSETSBETWEEN FUNDS
				Restricted	Unrestricted	Total
				Funds	Funds
				g
	Tangible Fixed Assets				1,107,125	1,107,125
	Invesnnents				4,685,231	4,485,231
	Current Assets			33,247	84,296	117,543
	Current Liabilities				(11,937)	(11,937)
	Pension Liability				(2,000)	(2,000)
				33,247	5,862,715	5,895,962
16.	FUNDS
			Balance at	Incoming	Outgoing	Balance at
			1Oct 2020	Resources	Resources	30Sep 2021
					5
	Restricted
	Grants and Vocations		9,845			9,845
	StAnne's, Derby		23,402			23,402
	Confraternity	ofthe Blessed Sacrament	20,000	12,000	(32,000)
			53,247	12,000	32,000	33,247

Unrestricted funds	g
At 1 October 2020	4,625,149
Incoming resources	528,356
Outgoing resources	(293,255)
Other gains/(losses)	1,002,465
At 30September 2021	5,862,715

		Balance at	Movement	Balance at
		1Oct 2020	in year	30Sep 2021
		8
Unrestricted	funds
Revaluation	reserve for freehold property		372,094	372,094
General fund		4,625,149	865,472	5,490,621
		4,625,149	1,235,566	5,862,715