LEEDS DIOCESE CHARITABLE SOCIETY TRUST
ANNUAL REPORT AND FINANCIAL STATEMENTS
CHARITY NUMBER : 232081
ADMINISTRATIVE INFORMATION
ADDRESS CHURCH HOUSE 17-19 YORK PLACE LEEDS LS1 2EX
TRUSTEE LEEDS DIOCESAN BOARD OF FINANCE
INDEPENDENT EXAMINER BEOFFRARK]= CBR = LEEDSPHIEEDIOCESANEIMANGLAY-OFFIOENBOARD OFDoeFINANCEP\CectlHN kNor%, ofHEADBusiness SE PLOlELIAFLANMIIG +
BANK SANTANDER BOOTLE, MERSEYSIDE
INVESTMENT MANAGERS CCLA INVESTMENT MANAGEMENT LTD SENATOR HOUSE, 85 QUEEN VICTORIA STREET LONDON, EC4V 4ET
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BACKGROUND AND OBJECTIVES
The object of the charity is to apply the clear income in relieving the need among clergy, deaconesses and licensed lay workers who are resident in or have served in the Diocese of Leeds and among persons who are dependent relatives of any members of the clergy by making grants of money.
Qualifying Persons Clergy Deaconesses
Licensed lay workers Dependent relatives of clergy
ACTIVITIES DURING THE YEAR
The Leeds Diocese Charitable Society Trust (232081) (‘the Trust’) gave grants during the year in accordance with the purposes of the Trust's objectives to the value of £455 (2021: £9,700).
Dividends and interest received during the year amounted to £25,498 (2021: £21,348) giving a surplus of receipts over payments of £25,043 (2021: £11,648).
The investments showed an unrealised loss in the year of £98,035 (2021: gain £105,160).
Total funds at the end of the year were £1,073,021 (2021: £1,146,013)
STRUCTURE, GOVERNANCE AND MANAGEMENT
The Leeds Diocesan Board of Finance (LDBF) is the managing trustee of the Trust. During 2022 grant applications were received and reviewed by the Leeds Diocesan Board of Finance Hardship Committee, which was made up of Jonathan Wood (CEO LDBF), Geoff Park (CFO LDBF), The Venerable Peter Townley (Archdeacon Pontefract) and Revd Kathryn Fitzsimons (LDBF Board Member to 16 March 2022).
DECLARATION
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INDEPENDENT EXAMINER’S REPORT ON THE ACCOUNTS
LEEDS DIOCESE CHARITABLE SOCIETY TRUST
Registered charity number 232081
On accounts for the year ended 31/12/2022
| report to the trustees on my examination of the accounts of the above charity (‘the Trust’) for the year ended 31st December 2022 which are set out on pages 5 to 7.
Responsibilities and basis of report
As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).
| report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, | have followed all the applicable directions given by the Charity Commission under section 145(5)(b) of the Act.
Independent examiner's statement
| have completed my examination. | confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect:
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e the accounting records were not kept in accordance with section 130 of the Charities Act; or e the accounts did not accord with the accounting records; or
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e the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination.
| have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
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PQJohmKnox Pn DateALAS
Director of Business Planning & Head of Property
Leeds Diocesan Board of Finance
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LEEDS DIOCESE CHARITABLE SOCIETY TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022
| Total | Total | |||
|---|---|---|---|---|
| Notes | Endowment | Funds | Funds | |
| Funds | 2022 | 2021 | ||
| = | £ | £ | ||
| Incoming resources | ||||
| Donations, legacies & similar incoming | ||||
| resources- | ||||
| Investment income | 2 | 25,498 | 25,498 | 21,348 |
| Grants from prior year not cashed | 0 | 0 | 0 | |
| Giftfrom otheramalgamated charitable | 0 | 0 | 0 | |
| Trusts | a | |||
| Total incoming resources | 25,498 | 25,498 | 21,348 | |
| Resources expended | ||||
| Charitable expenditure- | ||||
| Grants payable: | ||||
| general | 2 | 455 | 455 | 9,700 |
| other expenditure | 0 | 0 | 0 | |
| Total resources expended | 455 | 455 | 9,700 | |
| Net incoming resources before | 25,043 | 25,043 | 11,648 | |
| transfers | ||||
| Net incoming resources before | ||||
| disposals of investment assets | 25,043 | 25,043 | 11,648 | |
| Gains and losses on revaluations and | ||||
| investment assets | 4 | (98,035) | (98,035) | 105,160 |
| Net movement in funds | (72,992) | (72,992) | 116,808 | |
| Total funds brought forward at 1 | 1,146,012 | 1,146,012 | 1,029,204 | |
| January | ||||
| Total funds carried forward at 31 | 5 | 1,073,020 | 1,073,020 | 1,146,012 |
| December |
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LEEDS DIOCESE CHARITABLE SOCIETY TRUST BALANCE SHEET AS AT 31 DECEMBER 2022
| Notes | 2022 | 2021 | |
|---|---|---|---|
| £ | £ | ||
| Fixed assets | |||
| Investments | 4 | 738,478 | 836,514 |
| 738,478 | 836,514 | ||
| Current assets | |||
| Debtors | 0 | 0 | |
| Cash at bank and in hand | 334,541 | 309,498 | |
| 334,541 | 309,498 | ||
| 334,541 | 309,498 | ||
| Current Liabilities | |||
| Creditors | 0 | 0 | |
| Net current assets | 0 | 0 | |
| Total assets less current liabilities | 1,073,020 | 1,146,012 | |
| Total net assets | 1,073,020 | 1,146,012 | |
| Capital and reserves | |||
| Endowment funds | 5 | 1,073,021 | 1,146,013 |
| TotalReserves | 1,073,021 | 1,146,013 |
The notes on Page 7 form part of these accounts.
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Signed
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LEEDS DIOCESE CHARITABLE SOCIETY TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
1. ACCOUNTING POLICY
Basis of accounting
The financial statements are prepared under the historic cost convention as modified by the revaluation of investments in accordance with applicable accounting standards and the Statement of Recommended Practice for Charities.
Investments
Investments are stated at Bid Market Value. Realised and Unrealised gains/losses are reflected in the statement of Financial Activities.
Reserves
The Reserves Policy sets target free reserves at 3 months of expected expenditure. Given that grants are approved by the Trustees on an application basis and would not ordinarily exceed the annual income of circa £21,000, free reserves are significantly above the required level.
2. INVESTMENT INCOME
| 2. INVESTMENT INCOME | ||||
|---|---|---|---|---|
| 2022 | 2021 | |||
| £ | S | |||
| Deposit Fund Interest | 3,518 | 139 | ||
| Dividends Received | 21,980 | 21,209 | ||
| 25,498 | 21,348 | |||
| 3. GRANTS |
||||
| 2022 | 2021 | |||
| = | £ | |||
| Grants | 455 | 9,700 | ||
| Christmas Gifts to ClergyWidows | 0 | 0 | ||
| 455 | 9,700 | |||
| 4. FIXED ASSET INVESTMENTS |
||||
| 2022 | 2021 | |||
| & | e | |||
| MarketValue at 1 January | 836,514 | 731,354 | ||
| Additions | 0 | 0 | ||
| Disposals | 0 | 0 | ||
| Netunrealised (loss)/gain | (98,035) | 105,160 | ||
| Market Value at 31 December | 738,479 | 836,514 | ||
| Historical cost at 31 December | 401,349 | 401,349 | ||
| No shares were bought or sold during the year | ||||
| 5. RESERVES |
||||
| Revenue | Capital | Total | ||
| £ | £ | £ | ||
| Balance at 1.1.2022 | 578,817 | 567,196 | 1,146,013 | |
| Gain /(Loss) fortheyear | 25,043 | (98,035) | (72,992) | |
| Balanceat31.12.2022 | 603,860 | 469,161 | 1,073,021 |
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