2021-03-31-accounts - Secular Clergy Common Fund

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		SCCF	St Mary's	St Patrick's	Total	Total
		Unrestricted	Restricted	Restricted	2021	2020
INCOME from	Notes	Fund	Fund	Fund£	£	£
Donations and legacies		64,034		50	64,084	28,526
Income from charitable activities	2	2,045	630,621	350,684	983,350	862,506
Income from other trading activities:
Other income			650		650	277
Income from property rental			13,017		13,017	17,110
Income from investments	3	722,793	71,365	33,481	827,639	999,968
TOTAL INCOME		788,872	715,653	384,215	1,888,740	1,908,387
EXPENDITURE on
Costs of raising funds:
Rent collection charges			1,319		1,319	2,151
Investment management costs		67,951	6,513	3,062	77,526	94,995
Expenditure on charitable
activities	4	948,426	373,867	315,540	1,637,833	1,805,7
TOTAL EXPENDITURE		1,016,377	31,699	318,602	1,716,678	1,902,907
NET (EXPENDITUREYINCOME
and net movement in funds before
gains/(losses) on investments	6	(227,505)	333,954	65,613	172,062	5,480
Net (losses)/gains on investments	9	4,888,443	464,175	218,305	5,570,923	(4,635,237)
NET MOVEMENT IN FUNDS		4,660,938	798,129	283,918	5,742,985	(4,629,757)
RECONCILIATION OF FUNDS
Total funds brought forward		24,543,990	2,535,598	1,256,689	28,336,277	32,966,034
Total funds carried forward	14	29,204,928	3,333,727	1,540,607	34,079,262	28,336,277

	Notes	2021	2020
FIXED ASSETS
Tangible fxed assets	8	181,043	188,265
Investments	9	32,526,592	26,730,222
		32,707,635	26,918,487
CURRENT ASSETS
Debtors	10	22,353	10,272
Cash at bank and in hand	11	1,443,379	1,573,245
		1,465,732	1,583,517
CREDITORS: Amounts falling due within one year	12	(94,105)	(165,727)
NET CURRENT ASSETS		1,371,627	1417,790
NET ASSETS		34,079,262	28,336,277
FUNDS
Unrestricted:
Grant fund	14	28,239,928	23,578,990
General reserve	14	965,000	965,000
		29,204,928	24,543,990
Restricted:
St Mary's general fund St Mary's maintenance fund	14 14	1,411,087 1,922,640	731,582 1,804,016
		3,333,727	2,535,598
St Patrick's general fund	14	355,723	154,079
St Patrick's maintenance fund	14	1,184,884	1,102,610
		1,540,607	1,256,689
		34,079,262	28,336,277

	2021	2020
Cash fows from operating activities:
Cash used in operating activities (note 16)	(717,498)	(960,900)
Net cash used in operating activities	(717,498)	(960,900)
Cash fows from investing activities:
Portfolio income	820,510	5,741
Bank interest received	7,129	4,227
Net (investment)/disinvestment in portfolio	(225,447)	348.8,691
Purchase of plant and machinery	(14,560)	(80,157)
Proceeds on disposal of tangible fxed assets		12,900
Net cash provided by investing activities	587,632	1,281,402
Change in cash and cash equivalents in the period	(129,866)	320,502
Cash and cash equivalents brought forward	1,573,245	1,252,743
Cash and cash equivalents carried forward	1,443,379	1,573,245
ANALYSIS OF CASH AND CASH EQUIVALENTS
Cash in hand	867s7,699	859,052
Notice deposits (less than 3 months)	575,680	714,193
Total cash and cash equivalents	1,443,379	1,573,245

2	INCOME FROM CHARITABLE				Total	Total
	ACTIVITIES	SCCF	St Mary's	St Patrick's	2021	2020
	Annual subscriptions	2,017			2,017	1,264
	Entrance fees	28			28	170
	Cemetery income		630,621	350,684	981,1,305	861,072
		2,045	630,621	350,684	983,350	862,506
	2020 £	1,434	524,4,951	336,121	862,506
3	INCOME FROM				Total	Total
	INVESTMENTS	SCCF	St Mary's	St Patrick's	2021	2020
					£	£
	Portfolio income	719,612	68,624	32,274	820,510	995,741
	Bank interest	17	962	370	1,349	4,227
	Investment account interest	3,164	1,779	837	5,780
		722,793	,365	33,481	827,639	999,968
	2020 £	875,443	84,613	39,912	999,968

EXPENDITURE ON CHARITABLE ACTIVITIES	SCCF	St Mary's	St Patrick's	Total 2021	Total 2020
	£		£
Staff costs		238,744	185,886	424,630	466,603
Repairs and maintenance Cemetery running expenses Depreciation Allowances (net of refunds) Temporary grants Administration costs (note 5)	842,995 3,300 102,131	70,084 25,301 21,7792 17,946	103,215 21,404 5,035	173,299 46,705 21,792 842,995 3,300 125,1	,757 55,376 17,014 870,540 4,400 141,071
	948,426	373,867	315,540	1,637,833	1,805,761
2020 £	965,604	519,858	320,299	1,805,761

	grants weremade.
5	ADMINISTRATION COSTS				Total	Total
		SCCF £	St Mary's	St Patrick's £	2021 £	2020 £
	Chief Administrator's Honorarium Administrators' expenses Annual General Meeting Bank charges Secretarial costs	750 180 - 749 39,658	301		750 180 1,050 39,658	750 615 8,516 2,071 40.,587
	Professional fees	24,639	9,271	770	34,130	3,887
	Life Assurance	1,537			1,537
	Accountancy fees Audit fee Sundry offce	7,980 21,748 4,890	4,000 4,374	4,000 265	7,980 29,748 9,529	6,600 23,128 9,917
		102,131	7,946	5,035	125.,112	141,071
	2020 £	90,664	29,286	21,121	141,071
6	NET EXPENDITURE/(INCOME)				2021	2020
	This is stated after charging:
	Auditor's remuneration:
	Audit fee				25,6	24.
	Advisory and accountancy work Irrecoverable VAT				14,200 7,960	14,200 7,728
	Depreciation				21,619	17,014

ANALYSIS OF STAFF COSTS	2021	2020
		£
Wages and salaries	397,682	439,156
Social security costs	37,520	40,612
Other pension costs	15,547	27,771
	450,749	507,539
The average number of employees during the period were:
Management and administration		3
Superintendent		2
Cemetery ground staff	11	13


TANGIBLE FIXED ASSETS		Plant,
	Freehold	Machinery,
	Building	Fixtures &	Computer
	Improvements	Fittings	Equipment	Total
COST
At 6 April 2020	133,295	158,361	14,170	5,826
Additions		14,560		14,560
Disposals		(11,687)		(11,687)
At 31 March 2021	133,295	161,234	14,170	308,699
DEPRECIATION
At 6 April 2020	19,983	83,408	14,170	117,561
Charge for the period	5,328	16,454		21,782
Disposals		(11,687)		(11,687)
At 31 March 2021	25,311	88,175	14,170	127,656
Net book value
At 31 March 2021	107,984	73,059		181,043
At 5 April 2020	113,312	74,953		188,265

INVESTMENTS			2021			2020
			£
Movement in fxed asset listed investments:
Market value at start of periodlyear			26,904,288	31,349,989
Additions at cost			21,724,331	17,174,294
Disposal proceeds			(22,135,535)	(16,984,758)
Net realised and unrealised gains/(losses) in	the periodlyear		5,570,923	(4,635,237)
			32,064,007	26,904,288
Cash deposits			462,2,585		(174,066)
Market value at end of periodlyear			32,526,592	26,730,222
Historical cost value at end of period/year			31,487,110	26,958,274
The following individual investments comprise a signifcant		proportion of	the total fund value		at	the
periodlyear end:			% of total fund value
Equities- Global
HSBC FTSE All Share Index			8.3%
	2021		2020
	Market		Market
	Value		Value
	£	%	£
Fixed interest	8,030,001	24.69	6,303,924			23.59
Equities	20,948,020	64.41	15,603,746			58.37
Commodities			416,261			1.55
Unit trusts	3,085,986	9.48	4,580,356			17.14
Cash deposits	462,585	1.42	(174,065)			(0.65)
Total	32,526,592	100	26,730.222			100

2021	2020
	£
22,353	10,272

11	CASH AT BANK AND IN HAND	2021	2020
	HSBC
	Current Deposit Money Market Petty Cash	866,699 575,680 1,000	547,901 714.250 310,094 1,000
		1,443,379	1,573,245
12	CREDITORS:	2021	2020
	Amounts falling due within one year
	Trade and other creditors		3,959
	Other taxation and social security Accruals and deferred income	10,027 84,078	13,346 148,4
		94,105	165.727
	DEFERRED INCOME	2021£	2020 £
	Value of plots sold for future use at beginning of periodlyear Net movement in the periodlyear	50,450 (14,995)	75,950 5,500)
	Value of plots sold for future use at end of periodlyear	35,455	50,450

	Tangible fxed	Investmnents	Net current	Total
	assets		and long	2021
			term assets
	£		£
Unrestricted:
Grant fund		28,239,928		28,239,928
General reserve			965,000	965,000
Restricted funds:
St Mary's: General	168,439	1,110,220	182,428	1,411,087
Maintenance		1,922,640		1,922,640
St Patrick's:
General	12,604	118,920	224,199	355,723
Maintenance		1,184,884		1,184,884
	181,043	32,526,592	1,371,627	34,079,262

			Tangible fxed	Tangible fxed		Investments	Net current	Total
				assets			andlong	2020
							term assets
								£
	Unrestricted:
	Grant fund					23,578,990		23,578,990
	General reserve						965,000	965,000
	Restricted funds:
	St Mary's:
	General			188,265		421,927	121,390	1,582
	Maintenance					1,626,695	177,3	1,804,016
	St Patrick's:
	General					-	154,079	154,079
	Maintenance					1,102,610		1,102,610
				8,265		26,730,222	1,417,790	28,336,277
14	FUNDS							Balance
		Balance				Realised		at 31
		at 6 April				unrealised		March
		2020	Income	Expenditure		es)	Transfers	2021
		£			£			£
	Unrestricted:
	Grant fund	23,578,990	722,793	(917,665)		4,888,443	(32,633)	28,239,928
	General fund	965,000	66,079	(98,712)			32,633	965,000
	Restricted funds:
	St Mary's:
	General	731,582	715,653	(381,699)		464,1	(118,624)	1,411,087
	Maintenance	,804,016					118,624	1,922,640
	St Patrick's:
	General Maintenance	154,079 1,102,610	384,215	(318,602)		218,305	(82,274) 82,274	355,723 1,184,884
		28,336,277	1,888,740	(1,716,678)		5,570,923		34,079,262

	Balance			Realised/		Balance
	at 6 April			unrealised		at 5 April
	2019	Income	Expenditure	gains	Transfers	2020
	£	£	£	£	£	£
Unrestricted:
Grant fund	27,797,284	875,441	(963,697)	(4,072,730)	(57,308)	23,578,990
General fund	965,000	28,936	(86,244)		57,308	965,000
Restricted funds:
St Mary's:
General	1,168,690	627,7,674	8,972)	(402,780)	(133,030)	731,582
Maintenance	1,670,986				133,030	1,804,016
St Patrick's:
General	350,513	376,336	(323,994)	(159,727)	(89,049)	154,079
Maintenance	1,013,561				89,049	1,102,610
	32,966,034	1,908,387	(1,902,907)	(4,635,237)		28,336,277

RECONCILIATION	OF NET INCOME	CASH	FLOW	2021		2020
FROM OPERATING	ACTIVITIES			£
Net income for reporting period (as per statement		of fnancial
activities)				172,062		5,480
Adjust for:
Depreciation charges				21,782		17,014
Gain on disposal of	fxed asset					(4,925)
Finance costs
Dividends and interest from investments				(827,639)	(999,968)
(Increase)/decrease	in debtors			(12,081)		14,070
(Decrease)/increase	in creditors			(71,622)		7,429
Net cash used in operating activities				(717,498)	(960,900)
Analysis of changes in net funds/(debt)
			6 April		31	March
			2020	Cashfows		2021
						£
Cash at bank and in hand			1,573,245	129,866	1,443,379