2022-09-30-accounts - Additional Curates Society

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Council and Trustees/Directors;	Council and Trustees/Directors;	The Right Revd Anthony	The Right Revd Anthony
		Mrs Mary Speight (Vice Chairman)
		The Revd Prebendary	David Houlding
		Mr Andrew Roberts
		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
		Deacon Sarah Gillard-Faulkner
		The Revd Giles Orton
General Secretary:		The Revd Darren Smith
Registered	Office:	16Commercial Street
		Birmingham
		Bl 1RS
Bankers:		Bank ofScotland pic
		33Old Broad Street
		London
Investment	Managers:	M&G Charities
		PO Box9038
		Chelm sford
		CM99 2XF
		CCLA
		1 Angel Lane
		London
		EC4R3AB
Independent	Examiner:	Nicholas Simkins FCA
		The Dower House
		Bonehill
		Staffordshire
		B783HX

SOFA FOR2022						Restricted	Unrestricted	Total Funds	Total Funds
					Note	Funds	Funds	2022	2021
INCOME AND ENDOWMENTS FROM:
Voluntary Income:
Donations						67,500	88,739	156,239	175,193
Legacies							187,881	187,881	54,643
Other							25,971	25,971	25,445
Activities to Generate Funds:
Turnover from sales of	printing and goods						118,315	118,315	92,154
Investment Income							159,014	159,014	143,035
Bank Interest Received							13	13	284
Other							3,529	3,529	49,602
Total Incoming Resources						67,500	583,462	650,962	540,356
EXPENDITURE ON:
Costs ofgenerating funds:
Costs ofgenerating voluntary			income			12,500	154,615	167,115	152,921
Cost ofgoods and printing		for sales					117,525	117,525	109,910
Charitable activities
Grants (including placement			grants)			59,320		59,320	58,960
Governance costs							4,857	4,857	3,465
Total Expenditure						71,820	276,997	348,817	325,255
Net Income/(Expenditure)	before			gains and losses	on
investments						(4,320)	306,465	302,145	215,101
Net (losses)/gains from investments							(328,605)	(328,605)	630,37]
Net Income/(Expenditure)						(4,320)	(22,140)	(26,460)	845,472
Other recognised (losses)/gains
Actuarial (losses)/gains on defined				benefit
Pension scheme					13		1,000	1,000
Gain on revaluation offixed assets					7				372,094
Net movement in funds						(4,320)	(21,140)	(25,460)	1,217,566
Funds Brought Forward						33,247	5,862,715	5,895,962	4,678,396
Total Incoming Resources						28,927	5,841,575	5,870,502	5,895,962

COMPARATIVE SOFA	FOR 2021	FOR 2021	FOR 2021	Note	Restricted	Unrestricted	Total Funds	Total Funds
					Funds	Funds	2021	2020
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 Generate Funds:
Turnover from sales of	printing and goods					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 ofgoods and printing for sales						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	168,618
Net (losses)/gains fiom 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				13				(1,000)
Gain on revaluation offixed assets				7		372,094	372,094
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

						2021
			Note
FIXEDASSETS
Tangible assets					1,070,023		1,107,125
Investments					4,612,273		4,685,231
					5,682,296		5,792,356
CURRENT ASSETS
Debtors			9	16,128		48,874
Cash at Bank and in	Hand			183,076		68,668
				199,204		117,542
CREDITORS: Amounts		falling
due within one year			10	(10,998)		(11,936)
					188,206		105,606
Net Assets excluding	pension liability				5,870,502		5,897,962
Defined benefit pension scheme liability			13				(2,000)
Net Assets					5,870,502		5,895,962
FUNDS
Restricted Funds			15/16		28,927		33,247
Unrestricted Funds			15/16		5,841,575		5,862,715
Net Assets					5,870,502		5,895,962

						2022f	2021
Cash flows from operating activities:
Net income/(expenditure) for the	reporting		period			(25,460)	1,217,566
Adjustments for:
Depreciation charges						37,102	37,102
Losses/(Gains) on investments						328,605	(630,371)
Pension fund movements						(2,000)	(2,000)
Dividends, interest and rents from investments						(159,027)	(143,319)
(Increase)/Decrease in debtors						32,747	(36,934)
Increase/(Decrease) in creditors						(942)	(4,143)
Losses/(Gains) on fixed assets							(372,094)
Net cash provided by operating	activities					211,025	65,807
Cash flows from investing activities:
Dividends and interest from investments						159,027	143,319
Proceeds on disposal ofinvestments						352,194	150,000
Purchase offixed assets Purchase ofinvestments						(552,194)	(64,689) (460,000)
Net cash provided by/(used in)	investing		activities			(40,973)	(231,370)
Change in cash and cash equivalents		in the ieporting			period	170,052	(165,563)
Cash and cash equivalents at the	beginning		ofthe period			127,774	293,337
Cash and cash equivalents at the end		ofthe reporting			period	297,826	127,774
Cash and cash equivalents at the	end of	the	reporting	period comprises:
Cash at bank and in hand						183,076	68,668
Cash held on investment						114,750	59,106
						297,826	127,774

				2022		2021
				Unrestricted	Restricted	Unrestricted	Restricted
Institutional		grants	made for the support ofclergy: 2		22,000	12,000	20,000
(2021:3)
Parochial	Church		Councils —16(2021:14)		37,320	26,960
					59,320	38,960	20,000

				Voluntary	Printing,	Total	Voluntary	Printing,	Total
				Income	Activities	2022	Income	Activities	2021
					allil			and
					purchases			purchases
					for re-sale			for re-sale
Organising expenses				11,921		11,921	8,292		8,292
Staffcosts				79,349	29,668	109,017	76,448	28,611	105,059
Costs ofprinting		activities and			58,243	58,243		58,1]3	58,113
goods for sale
General office expenses				17,155	8,577	25,732	17,101	8,550	25,651
Postage				1,743	15,690	17,433	1,181	10,633	11,814
Telephone				1,558	3,118	4,675	977	1,954	2,931
Gas, electricity and			water	2,725	2,229	4,954	2,504	2,049	4,553
Professional	fees	and bank		1,729		1,729	1,453		1,453
charges
Property repairs and			expenses	4,906		4,906	6,939		6,939
Vocations				8,927		8,927	924		924
Depreciation:
Freehold	property			13,200		13,200	13,200		13,200
Leasehold	property			2,747		2,747	2,747		2,747
Office furniture			and	21,155		21,155	21,155		21,155
equipment
				167,115	117,525	284,640	152,921	109,910	262,831

			2022	2021
Independent	Examination		3,570	3,465
Council Meeting and members		expenses	1,287
			4,857	3,465

STAFFCOSTS
			2022	2021
Wages and Salaries (including	benefits	in kind)	95,188	91,092
Social Security Costs			4,664	5,444
Pension Costs			9,165	10,523
			109,017	107,059

				2022	2021
				No	No
Support	ofthe	charitable	activities	1	1
Tmdl11g				2	2

TANGIBLE FIXEDASSETS	TANGIBLE FIXEDASSETS
		Leasehold	Freehold	Furniture Ch	Total
		Property	Property	Equipment
		8
COST
I October 2021		395,500	660,000	210,345	1,265,845
Additions
Revaluation
30September 2022		395,500	660,000	210,345	1,265,845
ACCUMULATED	DEPRECIATION
I October 2021		11,675	52,490	94,555	158,720
Charge for the year		2,747	13,200	21,155	37,102
Disposal
30September 2022		14,422	65,690	115,710	195,822
NET BOOK VALUE
30September 2022		381,078	594,310	94,635	1,070,023
30September 2021		383,825	607,510	115,790	1,107,125

INVESTMENTS
	2022	2021
LISTED INVESTMENTS:
Market value at 1 October	4,626,126	3,535,754
Acquisitions at cost	552,194	460,000
Sales proceeds for disposals	(352,194)
(Loss)Igains in the year	(328,605)	630,372
Market value at 30September	4,497,521	4,626,126
Cash held for investments	114,752	59,105
	114,752	59,105
Total as at 30September	4,612,273	4,685,231
	2022	2021
The historic costofinvestments	3,201,538	2,715,512

9.	DEBTORS
				2022	2021
	Trade debtors			6,559	4,395
	Prepayments			3,898	3,622
	Legacies receivable				33,000
	Other debtors			5,671	7,767
				16,128	48,874
10.	CREDITORS: Amounts		falling due within one year
				2022	2021
	Accruals			10,998	11,936
				10,998	11,936
11.	FINANCIAL	COMMITMENTS
	C~itC C	it

OPERATING LEASES
	2022	2021
Within one year	5,636	4,181
Between two and five years	6,078	4,876
More than five years
	11,714	9,057

				2022	2021
					f.
Balance	as at I October			2,000	4,000
Deficit contribution paid				(1,000)	(2,000)
Actuarial	(gains)/losses	recognised	through SoFA	(1,000)
Balance	as at 30September				2,000

since pensionable stipends	for the remainder o	fthe recovery plan wer	e already known.
		2022	2021	2020	2019
		'/o p.a.	'/o p.a.	o/o p.a	o/o p.a.
Discount rate		n/a	0.0	0.2	1.4
Price inflation		n/a	n/a	3.1	8.0
Increase to total pensionable	payroll	n/a	-1.5	1.6	1.5

ANALYSIS OFNET ASSETSBETWEEN FUNDS
		Restricted	Unrestricted	Total
		Funds	Funds
Tangible Fixed Assets			1,070,023	1,070,023
Investments			4,612,273	4,612,273
Current Assets		28,927	170,277	199,204
Current Liabilities			(10,998)	(10,998)
Pension Liability
		28,927	5,841,575	5,870,502
FUNDS
	Balance at IOct 2021	Incoming Resources	Outgoing Resources	Balance at 30Sep 2022
Restricted
Grants and Vocations	9,845	55,000	(59,320)	5,525
StAnne's, Derby	23,402			23,402
Confraternity ofthe Blessed Sacrament		12,500	(12,500)
	33,247	67,500	(71,$20)	28,927

Unrestricted funds
At 1 October 2021	5,862,715
Incoming resources	583,462
Outgoing resources	(276,997)
Other gains/(tosses)	(327,605)
At 30September 2022	5,841,575

		Balance at	Movement	Balance at
		1Oct 2021	in year	30Sep 2022
Unrestricted	funds
Revaluation	reserve for f'reehold property	372,094		372,094
General fund		5,490,621	(21,140)	5,469,481
		5,862,715	(21,140)	5i841,575