ST ETHELDREDA'S TRUST
Annual Report for the year ending 31 December 2020
The full name of the Charity is St Etheldreda’s Home and is is numbered 232849 in the Register of Charities. The address of the Secretary, The Revd Jennifer Cappleman, is 107 Dover Crescent, Bedford, MK41 8QR.
The Charity is governed by a Scheme sealed by the Charity Commissioners on 6 December 1985.
The Custodian Trustee of the charity is The St Albans Diocesan Board of Finance and during the year the following served as Managing Trustees
The Right Revd Richard Atkinson, Bishop of Bedford The Venerable David Middlebrook, Archdeacon of Bedford Ms Rachel Bennett
The Revd Jennifer Cappleman Mrs Suzanne Clackson The Revd Canon Kevin Goss The Revd Kate Peacock Mrs Hannah Potter The Revd Dr Victoria Raymer
The Scheme provides that the income of the Charity, subject to the payment of expenses, shall be applied for the purpose of advancing the work of deaconesses and female deacons with the Diocese of St Albans under the guidance of the Bishop of that Diocese. It is further provided that if in any year income is not required for the primary purpose it may be applied for the purpose of advancing child care by means of visits or otherwise either by deaconesses and female deacons or by other persons acting under the guidance of the said Lord Bishop.
During the year the Trustees approved grants totalling £25,634 which includes provision for Sister Hazel who dedicated her life to helping run St Etheldreda’s Children’s Home. Sister Hazel is ordained and still exercises an active ministry, both to ‘the children of St Etheldreda’s Home’, in working with the Society of the Sacred Mission and in the wider community.
Registered Charity Number: 232849
ST ETHELDREDA’S HOME, BEDFORD TRUSTEES UNAUDITED FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2020
ST ETHELDREDA’S HOME, BEDFORD TRUSTEES
FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2020
| CONTENTS | PAGE |
|---|---|
| Details of trustees and advisors | 2 |
| Independent Examiners' report | 3 |
| Statement of financial activities | 4 |
| Balance sheet | 5 |
| Notes to the financial statements | 6-8 |
ST ETHELDREDA’S HOME, BEDFORD TRUSTEES
DETAILS OF TRUSTEES AND ADVISORS
Honorary Treasurer:
Mr M R Smith
Independent Examiners
C W Little FCA Keens Shay Keens Limited Exchange Building 16 St Cuthbert's Street Bedford MK40 3JG
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ST ETHELDREDA’S HOME, BEDFORD TRUSTEES
INDEPENDENT EXAMINERS' REPORT TO THE TRUSTEES OF ST ETHELDREDAS HOME TRUSTEES (continued)
YEAR ENDED 31 DECEMBER 2020
I report on the accounts for the year ended 31[st] December 2020 set out on pages 4 to 8.
Respective responsibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year (under Section 144(2) of the Charities Act 2011 (the 2011 Act)) and that an independent examination is required.
It is my responsibility to:
-
examine the accounts under Section 145 of the 2011 Act
-
to follow the procedures laid down in the General Directions given by the Charity Commission (under Section 145(5)(b) of the 2011 Act); and
-
to state whether particular matters have come to my attention.
Basis of the independent examiner's report
My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fair view ' and the report is limited to those matters set out in the statements below.
Independent examiner's statement
In connection with my examination, no matter has come to my attention:
-
(1) which gives me reasonable cause to believe that, in any material respect, the requirements
-
to keep accounting records in accordance with Section 130 of the 2011 Act; and
-
- to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the 2011 Act
-
have not been met; or
-
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
C W Little FCA Keens Shay Keens Limited Chartered Accountants 2nd Floor Exchange Building 16 St Cuthberts Street Bedford Bedfordshire MK40 3JG
Date: .............................................
ST ETHELDREDA’S HOME, BEDFORD TRUSTEES
STATEMENT OF FINANCIAL ACTIVITIES
YEAR ENDED 31 DECEMBER 2020
| 2020 | 2019 | ||||
|---|---|---|---|---|---|
| Note | £ | £ | |||
| Incoming resources | |||||
| Investment income | |||||
| dividends | 30,009 | 29,715 | |||
| Donations | 2 | - | - | ||
| Deposit interest | 28 | 88 | |||
| --------------------------------- | ------------------------------------ | ||||
| Total Incoming resources | 30,037 | 29,803 | |||
| ------------------------------- | ------------------------------------ | ||||
| Resources expended | |||||
| Charitable expenditure: | |||||
| Grants and donations | 18,660 | 25,180 | |||
| Rent | 6,974 | 6,934 | |||
| Management and | |||||
| administration | 396 | 357 | |||
| ----------------------------------- | ------------------------------------ | ||||
| Total Resources | |||||
| expended | 3 | 26,030 | 32,471 | ||
| ------------------------------------ | ------------------------------------ | ||||
| Net resources for the year | 4,007 | (2,668) | |||
| --------------------------------------- | --------------------------------------- | ||||
| Unrealised gains on | |||||
| investments | 65,670 | 145,467 | |||
| ---------------------------------------- | ------------------------------------ | ||||
| Net movement |
in | funds | |||
| relating to the year | 130,736 | 142,799 | |||
| Balances brought forward | 943,964 | 862,224 | |||
| ------------------------------------------------ | ---------------------------------------------- | ||||
| Balances carried forward | 1,074,700 | 1,005,023 | |||
| ============================================== | ============================================== |
The statement of financial activities includes all gains recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 5 to 7 form part of these financial statements
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ST ETHELDREDA’S HOME, BEDFORD TRUSTEES
BALANCE SHEET
YEAR ENDED 31 DECEMBER 2020
| 2020 | 2019 | ||||
|---|---|---|---|---|---|
| Note | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Investments – Income Funds | 4 | 1,055,494 | 989,825 | ||
| ------------------------------------------------- | ---------------------------------------------- | ||||
| CURRENT ASSETS | |||||
| Cash at bank | 19,506 |
15,478 | |||
| Less | |||||
| CREDITORS: Amounts falling due | |||||
| within one year | 300 | 280 | |||
| ------------------------------------ | ------------------------------------ | ||||
| NET CURRENT ASSETS | 19,206 | 15,198 | |||
| ---------------------------------------------- | ---------------------------------------------- | ||||
| NET ASSETS | 1,074,700 | 1,005,023 | |||
| ============================================== | ============================================== | ||||
| FUNDS | |||||
| Restricted funds | 5 | 943,964 | 885,542 | ||
| Unrestricted funds | 5 | 130,736 | 119,481 | ||
| ---------------------------------------------- | ---------------------------------------------- | ||||
| TOTAL FUNDS | 1,074,700 | 1,005,023 | |||
| ============================================== | ============================================== |
These financial statements were approved by the trustees on the …………………….
...................................................... .......................………………………. Position - Position -
The notes on pages 5 to 7 form part of these financial statements
ST ETHELDREDA’S HOME, BEDFORD TRUSTEES
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2020
1. ACCOUNTING POLICIES
Basis of accounting
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
Investment assets and income
Investments are shown at market value. Realised and unrealised gains and losses in the year are shown in the statement of financial activities. Gains and losses are calculated at the basis of the previous balance sheet valuation or the purchase cost whichever is lower.
Investment income is credited to the year to which it relates.
Grants and other expenditure
Grants and other expenditure are charged to the Statement of Financial Activities on an accruals basis.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular purposes.
2. DONATIONS
An application is being prepared for the St Albans Diocesan Board to widen the scope of financial assistance that can be provided to women carrying out their ministry in the Diocese of St Albans.
As always the money held in the charity will be administered by the trust but the funds are to be held by the St Albans Diocesan Board of Finance.
3. EXPENDITURE
| 2020 | 2019 | |
|---|---|---|
| £ | £ | |
| Charitable activities | ||
| Grants and donation | 18,660 | 25,180 |
| Rent | 6,974 | 6,934 |
| Management and administration | ||
| Reporting accountants fee | 396 | 280 |
| Administration costs | - | 77 |
| ---------------------------------------------- | ---------------------------------------------- | |
| 26,030 | 32,471 | |
| ============================================== | ============================================== |
- 6 -
ST ETHELDREDA’S HOME, BEDFORD TRUSTEES
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2020
4. INVESTMENTS
The investments are held in the Central Board of Finance funds as administered by the St Albans Diocesan Board of Finance.
| 2020 | 2019 | |||||||
|---|---|---|---|---|---|---|---|---|
| £ | £ | |||||||
| Market value at 1 January | 2020 | 989,825 | 844,357 | |||||
| Gain/(Loss) on revaluation at 31 December 2020 | 65,669 | 145,468 | ||||||
| ---------------------------------------------- | ---------------------------------------------- | |||||||
| Market value at 31 December 2020 | 1,055,494 | 989,825 | ||||||
| ============================================== | ============================================== | |||||||
| Investments | by individual | entities: | ||||||
| 2020 | 2020 | 2019 | 2019 | |||||
| Cost | Market Value | Cost | Market Value | |||||
| £ | £ | £ | £ | |||||
| 42180 | Shares in Investment Fund | 255,009 | 862,442 | 255,009 | 806,735 | |||
| 5487 Shares in Investment Fund* | 65,000 | 112,202 | 65,000 | 104,955 | ||||
| 47798 | Units |
in | Fixed | Interest | 70,000 | 80,850 | 70,000 | 78,135 |
| Securities Fund | ||||||||
| ---------------------------------------------- | ---------------------------------------------- | ---------------------------------------------- | ---------------------------------------------- | |||||
| 390,009 | 1,055,494 | 390,009 | 989,825 | |||||
| ============================================== | ============================================== | ============================================== | ============================================== |
*These investments are for the benefit of general funds. All other investments are those which must be held permanently by the Charity.
5. FUNDS
| Unrestricted | Restricted | Total | |||
|---|---|---|---|---|---|
| £ | £ | £ | |||
| Balance at 1 | January 2020 | 119,481 | 885,542 | 1,005,023 | |
| Unrealised | gain/(loss) | on | 7,248 | 58,422 | 65,670 |
| investments | |||||
| Net resources for the year | 4,007 | - | 4,007 | ||
| ---------------------------------------------- | ---------------------------------------------- | ---------------------------------------------- | |||
| Balance at | 31 December | 130,736 | 943,964 | 1,074,700 | |
| 2020 | |||||
| ============================================== | ============================================== | ============================================== |
The restricted fund represents those assets which must be held permanently by the Trust.
ST ETHELDREDA’S HOME, BEDFORD TRUSTEES
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2020
6. CREDITORS: Amounts falling due within one year
| 2020 | 2019 | |
|---|---|---|
| £ | £ | |
| Accruals | 300 | 280 |
| ========================== | ============================== |
7. CONTINGENT LIABILITIES
The Trustees confirm that there are no contingent liabilities to report as at 31[st] December 2020. (2019 - £Nil).
8.TRUSTEES’ REMUNERATION AND RELATED PARTIES
The trustees received no remuneration or other benefits in the year from the Trust (2019 - £Nil).
There were no trustees’ expenses paid in the year by the Trust (2019 - £Nil).
- 8 -
Registered Charity Number: 232849
ST ETHELDREDA’S HOME, BEDFORD TRUSTEES UNAUDITED FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2020
ST ETHELDREDA’S HOME, BEDFORD TRUSTEES
FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2020
| CONTENTS | PAGE |
|---|---|
| Details of trustees and advisors | 2 |
| Independent Examiners' report | 3 |
| Statement of financial activities | 4 |
| Balance sheet | 5 |
| Notes to the financial statements | 6-8 |
ST ETHELDREDA’S HOME, BEDFORD TRUSTEES
DETAILS OF TRUSTEES AND ADVISORS
Honorary Treasurer:
Mr M R Smith
Independent Examiners
C W Little FCA Keens Shay Keens Limited Exchange Building 16 St Cuthbert's Street Bedford MK40 3JG
- 2 -
ST ETHELDREDA’S HOME, BEDFORD TRUSTEES
INDEPENDENT EXAMINERS' REPORT TO THE TRUSTEES OF ST ETHELDREDAS HOME TRUSTEES (continued)
YEAR ENDED 31 DECEMBER 2020
I report on the accounts for the year ended 31[st] December 2020 set out on pages 4 to 8.
Respective responsibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year (under Section 144(2) of the Charities Act 2011 (the 2011 Act)) and that an independent examination is required.
It is my responsibility to:
-
examine the accounts under Section 145 of the 2011 Act
-
to follow the procedures laid down in the General Directions given by the Charity Commission (under Section 145(5)(b) of the 2011 Act); and
-
to state whether particular matters have come to my attention.
Basis of the independent examiner's report
My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fair view ' and the report is limited to those matters set out in the statements below.
Independent examiner's statement
In connection with my examination, no matter has come to my attention:
-
(1) which gives me reasonable cause to believe that, in any material respect, the requirements
-
to keep accounting records in accordance with Section 130 of the 2011 Act; and
-
- to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the 2011 Act
-
have not been met; or
-
(2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
C W Little FCA Keens Shay Keens Limited Chartered Accountants 2nd Floor Exchange Building 16 St Cuthberts Street Bedford Bedfordshire MK40 3JG
Date: .............................................
ST ETHELDREDA’S HOME, BEDFORD TRUSTEES
STATEMENT OF FINANCIAL ACTIVITIES
YEAR ENDED 31 DECEMBER 2020
| 2020 | 2019 | ||||
|---|---|---|---|---|---|
| Note | £ | £ | |||
| Incoming resources | |||||
| Investment income | |||||
| dividends | 30,009 | 29,715 | |||
| Donations | 2 | - | - | ||
| Deposit interest | 28 | 88 | |||
| --------------------------------- | ------------------------------------ | ||||
| Total Incoming resources | 30,037 | 29,803 | |||
| ------------------------------- | ------------------------------------ | ||||
| Resources expended | |||||
| Charitable expenditure: | |||||
| Grants and donations | 18,660 | 25,180 | |||
| Rent | 6,974 | 6,934 | |||
| Management and | |||||
| administration | 396 | 357 | |||
| ----------------------------------- | ------------------------------------ | ||||
| Total Resources | |||||
| expended | 3 | 26,030 | 32,471 | ||
| ------------------------------------ | ------------------------------------ | ||||
| Net resources for the year | 4,007 | (2,668) | |||
| --------------------------------------- | --------------------------------------- | ||||
| Unrealised gains on | |||||
| investments | 65,670 | 145,467 | |||
| ---------------------------------------- | ------------------------------------ | ||||
| Net movement |
in | funds | |||
| relating to the year | 130,736 | 142,799 | |||
| Balances brought forward | 943,964 | 862,224 | |||
| ------------------------------------------------ | ---------------------------------------------- | ||||
| Balances carried forward | 1,074,700 | 1,005,023 | |||
| ============================================== | ============================================== |
The statement of financial activities includes all gains recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 5 to 7 form part of these financial statements
- 4 -
ST ETHELDREDA’S HOME, BEDFORD TRUSTEES
BALANCE SHEET
YEAR ENDED 31 DECEMBER 2020
| 2020 | 2019 | ||||
|---|---|---|---|---|---|
| Note | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Investments – Income Funds | 4 | 1,055,494 | 989,825 | ||
| ------------------------------------------------- | ---------------------------------------------- | ||||
| CURRENT ASSETS | |||||
| Cash at bank | 19,506 |
15,478 | |||
| Less | |||||
| CREDITORS: Amounts falling due | |||||
| within one year | 300 | 280 | |||
| ------------------------------------ | ------------------------------------ | ||||
| NET CURRENT ASSETS | 19,206 | 15,198 | |||
| ---------------------------------------------- | ---------------------------------------------- | ||||
| NET ASSETS | 1,074,700 | 1,005,023 | |||
| ============================================== | ============================================== | ||||
| FUNDS | |||||
| Restricted funds | 5 | 943,964 | 885,542 | ||
| Unrestricted funds | 5 | 130,736 | 119,481 | ||
| ---------------------------------------------- | ---------------------------------------------- | ||||
| TOTAL FUNDS | 1,074,700 | 1,005,023 | |||
| ============================================== | ============================================== |
These financial statements were approved by the trustees on the …………………….
...................................................... .......................………………………. Position - Position -
The notes on pages 5 to 7 form part of these financial statements
ST ETHELDREDA’S HOME, BEDFORD TRUSTEES
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2020
1. ACCOUNTING POLICIES
Basis of accounting
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
Investment assets and income
Investments are shown at market value. Realised and unrealised gains and losses in the year are shown in the statement of financial activities. Gains and losses are calculated at the basis of the previous balance sheet valuation or the purchase cost whichever is lower.
Investment income is credited to the year to which it relates.
Grants and other expenditure
Grants and other expenditure are charged to the Statement of Financial Activities on an accruals basis.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular purposes.
2. DONATIONS
An application is being prepared for the St Albans Diocesan Board to widen the scope of financial assistance that can be provided to women carrying out their ministry in the Diocese of St Albans.
As always the money held in the charity will be administered by the trust but the funds are to be held by the St Albans Diocesan Board of Finance.
3. EXPENDITURE
| 2020 | 2019 | |
|---|---|---|
| £ | £ | |
| Charitable activities | ||
| Grants and donation | 18,660 | 25,180 |
| Rent | 6,974 | 6,934 |
| Management and administration | ||
| Reporting accountants fee | 396 | 280 |
| Administration costs | - | 77 |
| ---------------------------------------------- | ---------------------------------------------- | |
| 26,030 | 32,471 | |
| ============================================== | ============================================== |
- 6 -
ST ETHELDREDA’S HOME, BEDFORD TRUSTEES
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2020
4. INVESTMENTS
The investments are held in the Central Board of Finance funds as administered by the St Albans Diocesan Board of Finance.
| 2020 | 2019 | |||||||
|---|---|---|---|---|---|---|---|---|
| £ | £ | |||||||
| Market value at 1 January | 2020 | 989,825 | 844,357 | |||||
| Gain/(Loss) on revaluation at 31 December 2020 | 65,669 | 145,468 | ||||||
| ---------------------------------------------- | ---------------------------------------------- | |||||||
| Market value at 31 December 2020 | 1,055,494 | 989,825 | ||||||
| ============================================== | ============================================== | |||||||
| Investments | by individual | entities: | ||||||
| 2020 | 2020 | 2019 | 2019 | |||||
| Cost | Market Value | Cost | Market Value | |||||
| £ | £ | £ | £ | |||||
| 42180 | Shares in Investment Fund | 255,009 | 862,442 | 255,009 | 806,735 | |||
| 5487 Shares in Investment Fund* | 65,000 | 112,202 | 65,000 | 104,955 | ||||
| 47798 | Units |
in | Fixed | Interest | 70,000 | 80,850 | 70,000 | 78,135 |
| Securities Fund | ||||||||
| ---------------------------------------------- | ---------------------------------------------- | ---------------------------------------------- | ---------------------------------------------- | |||||
| 390,009 | 1,055,494 | 390,009 | 989,825 | |||||
| ============================================== | ============================================== | ============================================== | ============================================== |
*These investments are for the benefit of general funds. All other investments are those which must be held permanently by the Charity.
5. FUNDS
| Unrestricted | Restricted | Total | |||
|---|---|---|---|---|---|
| £ | £ | £ | |||
| Balance at 1 | January 2020 | 119,481 | 885,542 | 1,005,023 | |
| Unrealised | gain/(loss) | on | 7,248 | 58,422 | 65,670 |
| investments | |||||
| Net resources for the year | 4,007 | - | 4,007 | ||
| ---------------------------------------------- | ---------------------------------------------- | ---------------------------------------------- | |||
| Balance at | 31 December | 130,736 | 943,964 | 1,074,700 | |
| 2020 | |||||
| ============================================== | ============================================== | ============================================== |
The restricted fund represents those assets which must be held permanently by the Trust.
ST ETHELDREDA’S HOME, BEDFORD TRUSTEES
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2020
6. CREDITORS: Amounts falling due within one year
| 2020 | 2019 | |
|---|---|---|
| £ | £ | |
| Accruals | 300 | 280 |
| ========================== | ============================== |
7. CONTINGENT LIABILITIES
The Trustees confirm that there are no contingent liabilities to report as at 31[st] December 2020. (2019 - £Nil).
8.TRUSTEES’ REMUNERATION AND RELATED PARTIES
The trustees received no remuneration or other benefits in the year from the Trust (2019 - £Nil).
There were no trustees’ expenses paid in the year by the Trust (2019 - £Nil).
- 8 -