2022-12-31-accounts - Church Burgesses Trust

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Contents	Page
Burgesses'report	1 —16
Auditor's report	17 - 19
Statement offinancial activities	20
Balance sheet	21
Cash flow statement	22
Notes to the accounts	23-41

				Date
				elected
Dr S M Gentle, the Capital Burgess				2020
N J A Hutton	MBE			1988
The Rev SA P Hunter JP				1993
D FBooker				1998
I G Walker				2002
Dr J P Banham				2006
D Stanley				2007
D H Quinney				2016
SG Eccleston				2018
E A Brownhill				2018
OFFICERSOF THE TRUST
The Law Clerk:			I	TPotter	BA (Hons)
The Surveyor;			J A Swann		BSc	(Hbns) MRICS
The Deputy Surveyor:			M D Holmes BSc,MRICS
The Auditor:			BHP, Chartered			Accountants
Assistants to the Law Clerk			P G Stevenson
(Charity Administrators):			G ivlills
			D Andrews
			J	De-Hayes
TRUST OFFICE
Derwent House
150Arundel Gate
Sheffield
S12FN
Website: www. sheffieldchurchburgesses.		org.uk
CHARITY NUMBER
221284

Investment	Investment	managers:	Sarasin and	Partners	Partners	LLP
			Juxon House
			100St Paul's	Churchyard
			London
			EC4M BBU
Investment		custodian/nominee:	The Bank of	New York Mellon			(London Branch)
			The Northern	Trust		Company
Property	fund managers:		Savills Investment		Management		(UK) Limited
			33 Margaret	Street
			London
			W1G OJD
Property	advisors:		Fowler Sandford
			Chartered Surveyors
			4~ Floor Abbey House
			11Leopold Street
			Sheffield
			512 GY
Accountants		and auditors:	BHP, Chartered Accountants
			2 Rutland Park
			Sheffield
			5102P0
Solicitors:			Wrigleys Solicitors		LLP
			Derwent House
			150Arundel	Gate
			Sheffield
			512FN
Bankers:			Handelsbanken
			7 Floor
			3St Paul's Parade
			129Norfolk	Street
			Sheff i eld
			512JE

							Permanent
				Unrestricted	Restricted		endowment
				funds	funds		funds	Total	Total
				(Note 3)	(Note 4)		(Note 16)	funds	funds
			Note	2022	2022		2022	2022	2021
				E	f		E	E
Income and endowments		from:
Rental income				1,403,103				1,403,103	1,422,842
Investment income			5	522,521	5,600			528,121	533,267
Other income				12,500				12,500	12,500
Total income and	endowments			1,938,124	5,600			1,943,724	1,968,609
Expenditure on:
Costs ofgenerating	funds		6	638,311			46,477	684,788	523,749
Charitable activities			7	1,302,330				1,302,330	1,298,411
Total expenditure				1,940,641			46,477	1,987,118	1,822,160
Net (expenditure)/income		before
investment gains				. (2,517)	5,600	.	(46,477)	(43,394)	146,449
Net (losses)/gains	on investments		10				(4,946,696)	(4,946,696)	3,190,756
Net income/(expenditure)		before	transfers	(2,517)	5,600		(4,993,173)	(4,990,090)	3,337,205
Transfers between	Funds			4,272	(5,600)		1,328
Net movement in	funds			1,755			(4,991,845)	(4,990,090)	3,337,205
Reconciliation offunds:
Total funds at 1January 2022				1,221,464			41,107,255	42,328,71938,991,514
Total funds at 31December		2022		1,223,219			36,115,410	37,338p629 42,328,719

			Note	2022	2021
				E	E
Cash flows from operating activities
Net cash (used in)/provided by operating		activities	18	(120,631)	236,327
Cash flows from investing activities:
Sale oflisted and other investments
Purchase of listed and other investments Investment property additions				(24,093) (357,488)	51,712 (80,556) (542,109)
Net cash used in investing activities				(381,581)	(570953)
Change in cash and cash equivalents	in the year			(502,212)	(334,626)
Cash and cash equivalents brought forward				2,079,187	2,413,813
Cash and cash equhralents carried forward			19	1,576,975	2,079,187
Cash and cash equivalents consist of:
Cash at bank and in hand
				1,558,473	2,040,889
Notice deposits (less than 3 months)				18,392	12,764
				1,576,865	2,053,653
Investment cash
				110	25,534
				1a576,975	2,079,187

						Permanent
				Unrestricted	Restricted	endowment	Total	Tota I
				Funds	funds	fund	funds	funds
				2022	2022	2022	2022	2021
				E	f	f	E	f
investment income
Rental Income				1,403,103			1,403,103	1,422,842
Other investment	income			522,521	5,600		528,121	533,267
Other income				12,500			12,500	12,500
				1,938,124	5,600		1,943,724	1,968,609
Less costs ofgenerating		funds
Property running	costs and
Investment managers		charges		(638,311)		(46,477)	(684,788)	(523,749)
Net income available for
charitable application				1,299,813	5,600	(46,477)	1,258,936	1,444,860
3. Unrestricted	funds
							2022	2021
							6	E
Netincome available for charitable				application:
Total income						1,938,124		1,962,829
Less: costs ofgenerating		funds				(638p311)		(485,851)
						1,299,813		1,476,978
Less: amount specifically for ecclesiastical purposes						(3)
governance	costs	(note	9)			(305,728)		(296,225)
						(305,731)		(296,225)
Net income							994,082	1,180,753
Allocated to:
Ecclesiastical purposes -71.5%							710,769	844,238
General charitable	purposes —10.7%						106,366	126,341
Church Burgesses	Educational		Foundation —17.896				176,947	210,174
							994,082	1,180,753

3. Unrestricted funds (contin	ued)
			Ecclesiastical		General
				Part	Part	2022	2021
				f		E	f
Allocated net income				710,769	106,366	817,135	970,579
Specific income
-Charity Commission order				3		3
-Transfer from Sir William Ellis bequest				5,600		5,600	5,780
-Transfer to Charity Commission Recoupment					(1,328)	(1,328)	(152)
Net resources available for direct charitable		purposes		716,372	105,038	821,410	976,207
Direct charitable expenditure (Note 8)
-Cathedral expenditure				470,635		470,635	476,948
-Grants				227,601	121,419	349p020	315,064
			698,236		121,419	819,655	792,012
Net expenditure / income for the,year				18,136	(16a381)	1,755	184,195,
Total funds at 1January 2022			1,090,258		131,206	1,221,464	1,037,269
Total funds at31December 2022			1,108,394		114,825	1,223,219	1,221,464
4. Restricted income funds —Sir William		Ellis bequest
					2022f		2021 E
Dividends and interest on quoted	investments				5,600		5,780
Total incoming resources					5,600		5,780
Transfer to Unrestricted Income Fund - ecclesiastical			part	(note 2)	(5,600)		(5,780)
Net incoming resources forthe
year and net movement in funds
Totalfunds at 1January 2022
Total funds at 31December 2022

						2022	2021
						f	f
	Dividends and interest
	-on quoted investments -Charities Property Fund Bank and building society interest Charity Commission order					414,666 104,244 9,208 3	426,779 105,304 1,184
						528,121	533,267
6.	Costs ofgenerating funds
						2022	2021
						f	f
	Property Costs
	Empty property rates Repairs and refurbishment Dilapidation receipts Professional fees Repair of bridges and highway insurance Bad debts		contribution			64,931 108,994 (17,700) 281,279 20 25,413 157,674	56,268 69,070 (28,500) 186,180 20 37,083 137,230
						620,611	457,351
	Investment managers charges					64,177	66,398
						684,788	523,749
7.	Charitable activity expenditure
						2022	2021
						f	f
	Transfer to Church Burgesses Direct charitable expenditure Governance costs (note 9)	Educational (note 8)		Foundation	(note 3)	176,947 819,655 305,728	210,174 792,012 296,225
						1,302,330	1,298,411

		2022	2021
		E	E
Cothedral Expenditure
Cathedral maintenance		15,000	25,000
Annual grant		392,000	392,000
Insurance		44,291	42,620
Mission grant		15,000	15,000
Miscellaneous expenses		4,344	2,328
		470,635	476,948
Ecclesiastical Grants to institutions
Central Deaneries - Ministry support grants	(note 21)	6,000	7,132
Church building grants (note 21)		66,193	87,120
Other grants (note 21)		148,958	117,421
		221,151	211,673
Ecclesiastical Grants to Clergy
Clergy working expenses and support grants		6,450	8,241
		6,450	8,241
General Charitable Grants to Institutions	(note 22)	121,419	95,150
		121,419	95,150
		819,655	792,012

Governance costs
			2022	2021
			E	E
Auditor's remuneration Legal &administrative fees Printing, postage, stationery Bank interest and charges Trustee expenses		&sundry disbursements	22,800 271,604 8,753 652 707	19,158 265,411 9,239 340 923
Subtotal			304,516	295,071
Trustee indemnity	insurance		1,212	1,154
			305,728	296,225


10.	Net gains/(losses) on investments				2022	2021
					f	f
	Unrealised	gains/(losses)	on properties		(3,109,488)	2,034,891
	Unrealised	gains/(losses)	on investments		(1,837,208)	1,155,865
	Total				(4,946,696)	3,190,756
11.	Investment	properties			2022	2021
					f	f
	At valuation	1January 2022, with additions at cost
	Balance at	1January 2022			24,477,000	21,900,000
	Additions				357,488	542,109
	Revaluation				(3,109,488)	2,034,891
	Balance at	31December	2022		21,725,000	24,477,000
	Historical cost ofproperties		purchased	since 1969	1,036,069	678,581

Investments
				2022	2021
				6	E
Quoted Investments
At market value 1January 2022				15,890,027	14,705,318
Additions				24,093	80,556
Disposals					(51,712)
(Decrease)/	increase		in market value	(1,837,208)	1,155,865
At market value 31			December 2022	14,076,912	15,890,027
Investment	cash			110	25,534
				14,077,022	15,915,561
General				11,567,416	13,164,765
Charities Property		Fund		2,509,606	2,750,796
				14,077,022	15,915,561
Quoted investments			at historical cost at 31December 2022	13,226,443	13,202,350
All investments	are listed securities and comprise of:
Equities					7,422,956
Fixed income					1,325,509
Property					3,012,270
Alternative investments					1,628,010
UK investment	funds				436,194
Liquid Assets					251,973
					14,076,912

13.	Debtors and prepayments	Debtors and prepayments
					2022	2021
					f	f
	Rent and insurance	unpaid at year end			390,985	404,353
	Rent paid in arrears	(accrued)			10,585	7,870
	Ground rent paid in	arrears (accrued)			388	4,385
	Prepayments and other debtors				174,750	79,862
					576,708	496,470
14.	Cash at bank and on short-term		deposit
					2022	2021
	Short-term deposit:				f	f
	Santander				977	975
	Central Board of Finance				452	452
	Virgin Money				34	34
	Cash at bank:
	Royal Bank ofScotland
	- Special deposit account				8,949	3,342
	—Reserve account				9,443	9,422
	Handelsbanken
	- Current account				1,557,010	2,039,428
					1,576,865	2,053,653
15.	Creditors:
	Amounts falling due within one		year
					2022	2021
					f	f
	Amount due to the	Church Burgesses Educational		Foundation	46,947	103,439
	Rent received in advance				257,557	261,271
	Grants unpaid at year end				63,106	31,214
	Rent deposits				14,441	14,421
	Accrued expenses				234,915	203,620
					616,966	613,965

			Charity
			Commission	SirWilliam
			Recoupment	Ellis	Total
		Main Fund f	Fund f	Bequest f	2022 f
Total funds at 1January 2022		40,410,673	480,055	216,527	41,107,255
Incoming Resources
Transfer from unrestricted Unrealised gains/(losses):	income fund		1,328		1,328
Quoted investments Properties Investment managers charges Dilapidations receipts		(1,765,902) (3,109,488) (64,630) 17,700	(44,328)	(26,978) 453	(1,837,208) (3,109,488) (64,177) 17,700
		(4,9 2,3 )	~(43,000	(20,525)	~4,002,045)
Total funds at31December 2022		35,488,353	437,055	190,002	36,115,410
			Charity
			Commission	SirWilliam
			Recoupment	Ellis	Total
		Main Fund E	Fund f	Bequest f	2021 f
Total funds at 1January 2021		37,327,194	426,918	200,133	37,954,245
Incoming Resources
Transfer from unrestricted Unrealised gains/(losses):	income fund		152		152
Quoted investments Properties Investment managers charges Dilapidations receipts		1,086,839 2,034,891 (66,751) 28,500	52,985	16,041 353	1,155,865 2,034,891 (66,398) 28,500
		3,083,479	53,137	16,394	3,153,010
Total funds at 31December	2021	40,410,673	480,055	216,527	41,107,255

			2022	2021
			E	E
Net (expenditure)/income of Financial Activities)		for the year (as per Statement	(4,990,090)	3,337,205
Adjustment	for.
Unrealised Unrealised Movement Movement	losses/(gains) losses/(gains) in debtors In creditors	on investments on property	1,837,208 3,109,488 (80,238) 3,001	(1,155,865) (2,034,891) (108,114) 197,992
			(120,631)	236,327

	1January		31December
	2022	Cash flows	2022
	E	E	E
Cash at bank	2,040,889	(482,416)	1,558,473
Notice deposits,	38,298	,(19,796)	18,502
	2,079,187	(502,212)	1,576,975

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(i)	Church building grants
					2022	2021
					f	f
	Christ Church, Fulwood				12,500	70,000
	Christ Church, Pitsmoor				5,000
	Oughtibridge PCC				5,000
	StCatherine ofSiena				4,878
	St Leonard's, Arbourthorne				7,500
	St Mary' s, Bramall Lane				6,315
	St Matthew' s, Carver Street				25,000	620
	St Nicholas's, Bradfield					15,000
	St Peter &Oswald's Vicarage					1,500
					66,193	87,120
(ii)	Central Deanery —Ministry Support			Grants
					2022	2021
					f	f
	Ecclesall PCC				3,000
	St Mary' s, Walkley					5,122
	St John' s, Ranmoor				3,000
					6,000	5,122
(lii)	Other grants —Ecclesiastical
					2022	2021
					f	f
	Manor Parish				11,306	6,124
	St Mary' s, Walkley				3132
	St Mary' s, Bramall Lane	—Ukranian		hub	2,000
	Christ Church Endcliffe				5,500
	Church Army Sheffield	City Mission			7,500
	Pastoral Supervision Groups within			Sheffield Deaneries		5,000
	Diocese of Sheffield, Clergy Stipends			within Sheffield Deaneries	75,000	75,000
	StJohn's Evangelist, Ranmoor —Area Dean's admin expenses					3,000
	St Leonard's, Arbourthorne				4,158
	St Polycarp, Malin Bridge				5,000
	St Columba' s, Crosspool				2,500
	Ministry training				2,050	4,212
	St John's Park Church				5,812	4,085
	St John's Owlerton				5,000
	Parish Church ofthe Ascension,		Oughtibridge		20,000	20,000
	Total				148,958	117,421

21.	Grants - Ecdesiastical -continued
(iv)	Other grants
			2022	2021
			E	E
	Clergy grants			2,010
	Total			2,010
22.	Grants —General Charitable		2022	2021
			E	E
	Abbeydale Park Bowling Club		500
	Age UK Sheffield Aspergers Children &Carers Together Assist Sheffield Back Up Trust Big Issue in the North		3,000 2,000 3,000 1,500 500	3,000 3,000
	British Red Cross Care in Crosspool Cavendish Centre for Cancer Care Cathedral Archer Project Christ Church Pitsmoor Classical Sheffield CLIC Sargent Crohn's &Colitis UK C.R.U.S.E. CrystalPeaks Church Cycling Without Age Deepcar Village Comm Assoc Dial a Ride Club Sheffield South Live at Home (formerly Emmaus Enable (Sheffield) Families Action Support (Shefgeld) Framework Housing Golddigger Trust Golf in Society Happy Days Children's Charity Ignite Imaginations MacMillan Cancer Support Make Them Smile Manor Church &Community Project Mary Ann Rawson Trust for Wincobank MESH Community Cohesion Services	Ecclesall Live at Home) School	2,000 3,000 6,000 8,000 1,919 1,000 3,000 1,000 3,000 3,000 3,000 1,000 500 1,500 2,000 2,000 1,000	3,000 6,000 8,000 2,500 1,000 3,000 1,000 1,000 3,000 3,000 3,000 1,500 5,000 1,000 500 500 750 1,500
	Carried forward		58,419	51,250

22.	Grants —General Charitable —continued	Grants —General Charitable —continued	Grants —General Charitable —continued	Grants —General Charitable —continued		2022f	2021 E
	Brought forward					58,419	51,250
	Montgomery Theatre &	Arts Centre				500
	More in Dore					2,000
	Open Hands Project					1,000
	Paces High Green					2,000	5,000
	Pitsmoor Adventure Playground					5,000
	PBCFoundation GCP					1,000
	Roundabout					2,000
	Royal Society for the Blind					2,000
	Salvation Army						400
	Share Psychotherapy					4,000	4,000
	Sheffleld Countryside Conservation			Trust		2,000
	Sheffield Family Holiday	Fund				3,000	3,000
	Sheffield Hospitals Charity						5,000
	Sheffleld Methodist Church					2,500
	Sheffleld Music Academy					5,000
	Sheffield Wheat Project						500
	Sheffield Women's Counselling		Therapy Service (SWCTS)			2,000
	Sick Children's Trust (Sheffield		Children's		Hospital)	3,000	3,000
	St Luke's Hospice					2,000
	StVincent De Paul					3,000	3,000
	StWilfrid's Centre					4,000	4,000
	Stopgap					3,000	3,000
	The Furnival					3,000
	The Sunday Centre						2,500
	Theodora Childrens Charity					1,000
	Terminus initiative						2,000
	United Women Affiliation					5,000
	Voluntary Action Sheffield					5,000	5,000
	Westwood (2015)Ltd						1,000
	yes2Ventures						2,500
	Tota I					121,419	95,150
23.	Grant commitments					2022f	2021 f
	Grant commitments which would be met out ofthe
	unrestricted income, (Ecclesiastical part), offuture years
	amounted to					134,272	89,048
24.	Capital commitments					2022f	2021 f
	Property refurbishments					346,110	78,774

Accounts Analysis
Estate professional	fees
Legal charges
Accrued expenses
Grants unpaid at	the year end

			2022	2021
			E	E
ESTATE PROFESSIONAL FEESa
~5f
New leases
Survey fees			25,200	24,979
Property valuation	fee		6,067	11,616
Surveyors salary			660
			48,000	13,500
			79,927	50,095
51t f
New leases
Solicitors fees other			18,829	23,296
Law clerks office property fees Property sales costs			64,241 118,282	16,447 96,342
			201,352	136,085
Total
			281,279	186,180
LEGAL CHARGES*
Wrlgleys —general non-estate		charges	271,604	265,411

		2022	2021
		f	f
ACCRUED EXPENSES
Audit and Accountancy		22,800	19,158
General legal charges		53,762	56,351
Estate professional fees		88,003	73,432
Estate general expenditure	and repairs	42,099	21,957
Refurbishments		28,251	32,722
		234,915	203,620
		2022	2021
		f	E
GRANTS UNPAID AT THE YEAR END
Christ Church Pitsmoor		1,190
StCatherine ofSiena		1,178
St Matthews Carver Street		25,000
St Nicholas's, Bradfield			15,000
Clergy expenses		1,250	1,582
Ministry support grants		26,225	7,632
General charitable purpose	grants	3,919	7,000
Cathedral grants		4,344
		63,106	31,214
		2022	2021
		E	E
GRANT COMMITMENTS
Christ Church Fulwood		37,500	50,000
St Matthews Carver Street		25,000
Christ Church Endcliffe		15,000
Parish Church ofAscension,	Oughtib ridge		20,000
St Leonard's, Arbourthorne		4,158
Manor Church &Community	Project	10,000
Church Army Sheffield City	Mission	15,000
StJohn's Owlerton		10,000
St Polycarp's, Malin Bridge		10,000
StJohn's Park Church		6,614	12,416
St Columba' s, Crosspool		1,000	3,500
St Mary' s, Walkley			3,132
		134,272	89,048