ST ETHELDREDA'S BEDFORD TRUST
Annual Report for the year ending 31 December 2021
The full name of the Charity is St Etheldreda’s Bedford Trust and 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 10 September 2021.
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 revised Scheme which came into effect on 10 September 2021 provides that the income of the Charity, subject to the payment of expenses, shall be applied to the purpose of advancing the work of female bishops, female priests, female deacons, female ordinands and female licensed lay ministers within the Diocese of St. Albans and to relieve the poverty of the remaining sisters of St. Etheldreda’s Home under the guidance of the Lord 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 supporting women’s ministry with children within the Diocese of St Albans and under the guidance of the Lord Bishop.
The Trustees resolved on 9 November 2021 to change the Trust’s name from St Etheldreda’s Home to St Etheldreda’s Bedford Trust.
During the year the Trustees approved grants totalling £37,981.53 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
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‘the children of St Etheldreda’s Home’, in working with the Society of the Sacred Mission and in the wider community.
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| EAR ENDED31DECEMBER2021 | |||
|---|---|---|---|
| Note | 202L | 2020 | |
| € | f | ||
| lncomingresources | |||
| lnvestment income dividends | 30,455.83 | 30,009.17 | |
| Donations | |||
| lnterest on deposit account | 3.91 | 28.02 | |
| TotalIncoming resources | 30,459.74 | 30,037.1.9 | |
| Resourcesexpended | |||
| Charitableexpenditure: | |||
| Grants | 37,981.53 | 25,454.06 | |
| Managementandadministration | 4,045.O0 | 376.00 | |
| Totalresources expended | 42.O25.53 | 25,830.05 | |
| Netresourcesfor theyear | (11,s66.79) | 4.207.73 | |
| Unrealisedandrealised | 134.808.29 | 65,665.44 | |
| gains/(loss) on investments | |||
| Net movementinfunds relatingto | L23,24t.5O | 69,872.57 | |
| theyear | |||
| Balancesbroughtforward | L,O74,499.67 | L,OO4,627.LO | |
| Balancescarriedforward | L,t97.74L.16 | L,O74.499.67 |
| Notef | Notef | € | f | f | |
|---|---|---|---|---|---|
| FIXEDASSETS | |||||
| lnvestments-lncome | 4 | L.L9O,3O2.29 | 1.055,494.01 | ||
| Funds | |||||
| L,L9O,3O2.29 | 1,055,494.0L | ||||
| CURRENTASSETS | |||||
| Cashatbank | |||||
| CBFDepositFund | |||||
| CREDITORS:Amounts | |||||
| fallingduewithinone | 10,558.93 | ||||
| year | |||||
| NET CURRENTASSETS | |||||
| NETASSETS | |||||
| FUNDS | |||||
| Restrictedfunds Unrestrictedfunds |
5 5 |
L,O6t,967.O7 L35,774.09 |
943,292.L3 L3t,207.54 |
||
| TOTAL FUNDS | 1,,197,747.t6 | !,o74,499.67 |
| bytheStAlbansDiocesan BoardofF 3. EXPENDITURE |
inance. | |
|---|---|---|
| 202L | 2020 | |
| f€ | ||
| Charitableactivities | ||
| Grants,donationsandotherpayments Managementandadministration |
37,98L.53 3,510.00 |
25,454.OG |
| Reporting accountantsfee | 438.00 | 376.00 |
| Allcosts | 97.00 | |
| a,o?6,JE | 2L930-06 |
| The investments are heldintheCentralB StAlbans Diocesan BoardofFinance. |
oardofFinancefund | sasadminist |
|---|---|---|
| 2021. | 2020 | |
| Lf | ||
| Marketvalue attJanuary2O2t 1,055,494.0L Gain/(Loss)on revaluation at 31 December202L134,808.28 |
989,824.57 65,669 |
|
| .44 | ||
| MarketValueat 3LDecember2021 | 1J90302,29 | 1*055194-01 |
| nvestmentsbyindividual entities: | ||||
|---|---|---|---|---|
| 2021. | 202L | 2020 | 2020 | |
| Cost | Market | Cost | Market | |
| Value | Value | |||
| ffff | ||||
| 42LBOShares inlnvestmentFund | 255,OO9 | 986,451..0L | 255,OO9 | 862,44'J..8'J. |
| 5487SharesinlnvestmentFund* | 65,000 | 1,28,335.22 | 65,000 | 112,201.88 |
| 47798Units inFixedlnterestSecurities | 70,000 | 75,5'J-6.AG | 70,000 | 80,850.32 |
| Fund | ||||
| 390p0e | L_1e03o2l9 | 39Op09 | 1p55lt94tl1 |
| . FUNDS |
||
|---|---|---|
| UnrestrictedRestricted | Total | |
| ffE | ||
| Balanceat1January2021 | 73L,207.54943,292.13 | 1,074,499,67 |
| Unrealisedgain/(loss) oninvestments Netresourcesfor theyear |
15,133.34LL8,674.94 (11,566.79) |
134,808.28 (7L,566.79) |
| Balanceat 31 December2021. | 135.774.091,067,967.07 | L,L97,741,.'J,6 |