=-,| CHARITY COMMISSION | Independent examiner's report on the (a8) FOR ENGLAND AND WALES accounts
| Section A | Independent Examiner’s Report | |||
|---|---|---|---|---|
| Reporttothetrustees/ ee |
ily Name, . cc J la. . SOCEN fok REUEF of foog CLERGY |
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| On accountsforthe year | ended |
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| reporttothetrustees onmyexamination oftheaccounts oftheabove charity (“theTrust”) fortheyearended ; |
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| Responsibilitiesand basis ofreport |
Asthe charity's trustees, you areresponsible forthe preparation ofthe accounts in accordancewith the requirements ofthe CharitiesAct2011 (“the Act’). |
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| report in respect ofmyexamination of theTrust’s accounts carried out undersection 145ofthe2011 Actand in carrying outmyexamination, |
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| Independent examiner'sstatement |
[The charity’s grossincomeexceeded£250,000and | am qualified to undertaketheexamination bybeing aqualifiedmemberof[insertname of applicable listed body]]. Delete [ ] ifnotapplicable. |
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| havecompletedmyexamination. |
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| e the accounting recordswere not kept inaccordancewith section 130 ofthe Charities Act; or |
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| : | e theaccounts did notaccord withtheaccounting records; or e theaccounts did notcomplywiththeapplicable requirements concerningtheformandcontentofaccounts setout inthe Charities (Accounts and Reports) Regulations 2008 otherthananyrequirement thattheaccounts givea ‘trueand fair’ view which is notamatter considered as part ofan independent examination. |
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havenoconcernsandhavecomeacrossnoothermatters inconnection with theexamination towhich attention shouldbedrawn inthisreport in ordertoenable a proper understanding oftheaccountsto be reached. *Pipase deletethewordsinthebracketsiftheydonotapply. |
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| wa, | ||||
| Name: | HEANAIG MATHiGSON Gakvel ssi‘™CS |
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| Relevantprofessional qualification(s)orbody |
4p C A |
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| IER | 1 Oct2018 |
TMATHIFSONGARVEN ASSOCIATES _| |[|] heSurrey SM5 4JLln ee
Section B Disclosure
Only complete if the examiner needs to highlight material matters of concern (see CC32, Independent examination of charity accounts: directions and guidance for examiners).
Give here brief details of any items that the examiner wishes to disclose.
IER
2
Oct 2018
THE SOCIETY FOR THE RELEIF OF POOR CLERGY ANNUAL REPORT 2021
PURPOSE OF THE CHARITY
The object of the Society is solely to make awards of non-recurring grants in accordance with the Rules as revised and adopted at the AGM 2017. The main business during the course of the year was the consideration of applications for grants. The Trustees endeavour at all times to ensure that the Society's available funds are used to provide realistic and effective help.
REVIEW
The Trustees met on three occasions during the course of the year, to receive applications and award grants. 27 grants were awarded at an average £592 over all categories. All applications were based upon the platform for grants which was adopted in 2013 and reviewed annually. The platform for grants assumes holidays will be taken in the UK: that requests for the purchase of furniture and white goods will be based upon a reasonable high street budget ranges. It assumes a standard level of assistance for those attending Christian camps. Only in exceptional circumstances will grants be made in excess of this platform. While the Trustees recognise their need to balance wisdom with generosity, so applicants need to be good stewards of what they receive. In 2012 it was decided to offer support to eligible applicants who wanted help in funding dependent children to attend Christian camps for their spiritual benefit or who want to use a gap year with an approved Christian agency and purpose immediately before or after attending university for a graduate degree. In 2013 it was agreed that the legacy received from the estate of the late Mrs Hilary Cotter in 2006 would be used to fund these grants. Covid restriction meant that applications were still relatively low and so only 5 grants in this category were made this year. At the October 2014 meeting of the Trustees it was agreed that, in each financial year any surplus of income left after grants had been awarded may be added to the Cotter Legacy fund to be used as outlined above. The sum of grants awarded from The Cotter legacy fund during the year was £2800. In accordance with the decision above the overall surplus for the year (£9726) was added to the fund bringing the net total to £33,735 to be carried forward to 2021. It was agreed during the year, however, to make a nominal reserve within the fund to allow grants to be made (maximum £250) for clergy sabbaticals.
Investments are held in Collective Investments Scheme Units of the Central Board of Finance of the Church of England, the income from which is used for the purpose of the charity. Ethical considerations form an integral part of the management of these funds. No specific investment objectives are set but results are regularly monitored against market returns and peer group benchmarks. The market value of the charity's investments increased in line with the movement of the stock market.
Reserves: the Trustees aim to hold sufficient cash in the bank current account to enable the Charity to meet its obligations in a timely manner. Beyond this, all income received is available for distribution.
The Ven lan Watson Chair on behalf of the Trustees.
THE SOCIETY FOR THE RELIEF OF POOR CLERGY
Officers and Advisers for year ending 31 December 2021
TRUSTEES
Mrs Eleanor Adams
The Rev'd Preb Graham Cotter
Mrs Catherine Shearn (Secretary)
The Rev’d Adam Watson
The Rev'd Stephen Burch
The Rev'd John Dunnett
The Rev’d Martin Hayward (Treasurer) The Rev'd Joe Kinsella
The Venerable lan Watson (Chair)
SECRETARY
Mrs Catherine Shearn )
PROFESSIONAL ADVISERS
Bankers
CAF Bank Ltd
25 Kings Hill Avenue, Kings Hill, West Malling, Kent ME19 4JQ
Investment Advisers
CCLA investment Management Ltd, 80 Cheapside, London. EC2V 6DZ
BALANCE SHEET AS AT 31st DECEMBER 2021
| 2021 | 2020 | 2020 | 2019 | |||
|---|---|---|---|---|---|---|
| Note | ||||||
| Fixed Assets | ||||||
| Investments at cost | 5 | ; 170,270 |
170,270 | 170,270 | ||
| Current Assets | ||||||
| Deposits repayable on demand | ||||||
| (CCLA Deposit a/c) | 9,953 | 9,953 | 9,953 | |||
| Cash at Bank -CAF/RBS | 30,289 | 20,462 | 12,724 | |||
| 40,242 | 30,415 | 22,677 | ||||
| Liabilities | ||||||
| Chequesdrawn not presented | (500) | (500) | 0 | |||
| 0 | ||||||
| i NetAssets |
ne 210,012 |
a | ee 200,185 |
192,947 | ||
| Qa60qu0q3o32320202020oao999aaaoaoaoa09maaOq—vOvOCOCOoaa | ||||||
| Funds | ||||||
| Permanent Endowment Fund | 4,475 | 4,475 | 4,475 | |||
| Unrestricted Income Fund | 171,802 | 168,901 | 168,241 | |||
| Mrs Cotter legacy net£35,000 in | ||||||
| 2006 (Designated) | 32,000 | 26,809 | 33,735 | 20,231 | ||
| Sabbatical fund (Designated: new in | ||||||
| 2021) 1,735 ae I eeeaie,Weed aoA laesseteetdeo ene vas eed_WSed=s elas 0 0 DeelDe |
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| Total Funds | 210,012 | 200,185 | 192,947 | |||
| GuVue3QVe@6QVQq0CqQIeeaan—@weeoaagq»a0Qwo@oaqoaoaaoaoaoaoaoaomo | SSS=$q$qs |
Signed on behalf of the Trustees
aeeThe Venerable lan Watson ee ee ee ee ee
INCOME AND EXPENDITURE ACCOUNT for year ended 31st December 2021
| 2021 | 2020 | 2019 | ||||||
|---|---|---|---|---|---|---|---|---|
| Note | ||||||||
| Incoming Resources | ||||||||
| Donations received | 25 | 0 | 35 | |||||
| Investment income | 26,226 | 26,899 | 26,199 | |||||
| Bank Interest | 0 | 0 | 0 | |||||
| All income | 26,251 | 26,899 | 26,234 | |||||
| Resources expended | ||||||||
| Grants made | 2 | (16,000) | (18,900) | (19,650) | ||||
| Support costs | 3 | (424) | (409) | (1,854) | ||||
| Governance Costs | 4 | (101) | (352) | (1,848) | ||||
| All expenditure | (16,525) | (19,661) | (23,352) | |||||
| Net movement in fund | 9,726 | 7,238 | 2,882 | |||||
| Income Fund brought forward | 219,041 | 211,803 | 208,921 | |||||
| IncomeFundcarriedforward | 228,767 | 219,041 | 211,803 |
NOTES TO FINANCIAL STATEMENTS YEAR TO 31st DECEMBER 2021
1. Accounting Policies
a) Accounts have been prepared under the historical cost convention and in accordance with the
accruals concept
b) Donations, legacies and investment income are credited in full to the Income and Expenditure account in the year in which they are received.
| 2021 | 2020 | 2019 | |||||
|---|---|---|---|---|---|---|---|
| number | £ | number | £ | number | £ | ||
| 2. Grants | |||||||
| Bereavement | 8 | 5300 | 10 | 5,000 | 8 | 4,000 | |
| Special needs including illness and | |||||||
| encouragement | 14 | 7900 | 26 | 13,150 | 18 | 8,500 | |
| Youth camps from Cotter legacy | 5 | 2800 | a | 750 | 19 | 7,150 | |
| 16000 | 18,900 | 19,650 | |||||
| 3. Support Costs | |||||||
| Administration | 0 | 132 | 1,303 | ||||
| Stationery and postage | 323 | 309 | 156 | ||||
| Website and media advertising | 0 | 0 | 396 | ||||
| 323 | 441 | 1,855 | |||||
| 4. Governance Costs | |||||||
| Committee expenses | 0 | 220 | 1189 | ||||
| Bank charges | 101 | 100 | 60 | ||||
| / | 101 | 320 | 1,249 |
5. Investments
Shares held in Central Board of Finance of the Church of England
| Share market | Share market | Share market | Share market | Share market | |||
|---|---|---|---|---|---|---|---|
| Original | value31 12 | value 31 12 | value 31 12 | ||||
| purchase price | 2021 | 2020 | 2019 | ||||
| Fixed Interest Securities Fund | |||||||
| share holding | 42102 | 42,102 | 42,102 | ||||
| at £1.5858 | at | £1.6962 | at | £1.6384 | |||
| £ | 59,553 | £66,766 | £ | 71,414 | £ | 68,980 | |
| Investment Fund | |||||||
| share holding | 40960 | 40,960 | 40,960 | ||||
| at £20,407 | at | £2.0487 | at | £19,1691 | |||
| £ | 110,717 | 835,854 | £839,155 | £ | 785,162 | ||
| £ | 170,270 | £902,620 | £910,569 | £ | 854,142 |
mwh 13/07/2022