REGISTERED CHARITY NUMBER: 240234
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021
FOR
GUILD OF ALL SOULS
MMP Accounting Solutions Ltd
Chartered Certified Accountants
3 Queen Street
Ashford
Kent
TN23 1RF
GUILD OF ALL SOULS
CONTENTS OF THE FINANCIAL STATEMENTS for the Year Ended 30 June 2021
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Page |
Page |
Page |
Report of the Trustees |
1 |
to |
2 |
Independent Examiner's Report |
|
3 |
|
Statement of Financial Activities |
|
4 |
|
Balance Sheet |
|
5 |
|
Notes to the Financial Statements |
6 |
to |
11 |
Detailed Statement of Financial Activities |
12 |
to |
13 |
GUILD OF ALL SOULS
REPORT OF THE TRUSTEES
for the Year Ended 30 June 2021
Thetrusteespresenttheirreportwiththefinancialstatementsofthecharityfortheyear ended
30June2021.ThetrusteeshaveadoptedtheprovisionsofAccountingandReportingby Charities:
StatementofRecommendedPracticeapplicabletocharitiespreparingtheiraccountsinaccordance with
theFinancialReportingStandardapplicableintheUKandRepublicofIreland(FRS102)(effective 1
January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The Guild of All Souls is an association of some 1300 members whose main objectives are:
1. Intercessory prayer for the Dying and for the Repose of the Souls of the Departed.
2.TopromotethetwogreatdoctrinesoftheChristiancreed:"TheCommunionoftheSaints"and "The
ResurrectionfromtheDead".Thefollowingareparticularlycommendedtotheprayersofthe Members:
(a)therestorationoftheScripturalRiteofAnointingthesickwithHolyOil,commonlycalled Holy
Unction.(b)TherestorationoftheprimitivecustomreservingtheHolyEucharistforthesickand dying.
As Members of this devotional Guild we endeavour to care for the dying, the dead and the bereaved.
3. To receive advowsons, by bequest in wills and administer patronage.
Public benefit
TheobjectivesandaimsoftheGuildarereligiousinnature,membershipoftheGuildisopento any
person who supports those objectives and aims, on payment of a modest subscription.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
TheGuildofAllSoulswasaformedin1873andisgovernedbyRules(lastrevisedin2006)andby a
TrustDeeddated4thSeptember2005whichvestedthepropertyofTheGuildin3Trustees.The present
TrusteesareJohnFurber,QC,TheRevdRobertFarmerandMrs.AnneGray.TheTrusteesareelected for
3yearsatatimebytheCouncilpursuanttoRule15.ThepropertyofTheGuildincludesadvowsonsof 40
EnglishBenefices,aChantryChapelandabungalowbothinLittleWalsingham,Norfolk.Theaffairsof The
GuildaregovernedbyaCouncilconsistingofthe3Trustees,theannuallyelectedPresident,currently the
Rt.RevdNormanBanks,BishopofRichboroughandtheWarden,currentlyMrDavidLl.Morgan,not more
than7annuallyelectedmembersandtheappointedGeneralSecretary.ThereisaPatronage Committee.
Apartfromapart-timeGeneralSecretaryandtheChantryPriest,alltheworkofTheGuildiscarried out
on a voluntary basis.
TheChantryChapelintheShrinegroundsatLittleWalsingham,builtin1965,ismanagedbya small
CommitteeappointedbyTheCouncilandisservedbyanappointedChantryPriest.Oneofthe most
importantaspectsoftheroleoftheChantryPriestistoensurethedailycommemorationof departed
membersinprayeratacelebrationoftheMassontheanniversaryoftheirdeath.Thereisa Chantry
ChapelFundwhichprovidessomeincometooffsettheannualexpensesofTheChapel.Thatisoneof four
Restricted Funds administered by The Guild.
IntheyearunderreviewTheCouncilmetthreetimes.Apartfromroutinebusiness,itresponded to
applicationsforfinancialassistancefromBeneficesforwhichtheGuildisPatronandothers.Itdealt with
appointmentstothosevacantBeneficesofwhichTheGuildisPatronanddiscussedcases where
PresentationhasbeensuspendedbyorderoftherelevantDiocesanBishop.AdditionallyTheGuild is
responsibleforpublishingliteratureincludingprayercardsforthebenefitofthesick,dying,departed and
bereavedandabookofprayersforthosewhositwiththedying.Suchliteratureis distributed
free-of-charge.TheGuildisalsoresponsibleforpublishingawebsite,www.guildofallsouls.org.uk which
containsessentialdetailsofitsworkandevents.ItalsodistributesanIntercessionPapertoall members,
whichcontainsthenamesofrecently-departedmembersforthepurposeofaidingintercessoryprayer on
their behalf.
IncarryingoutthebusinessofTheGuild,aregisteredCharity,theCouncilalwayspaysdueregardto the
advice of The Charity Commission relevant to the administration of the Charity.
FINANCIAL REVIEW
Reserves policy
Investmentsofapproximately£420,000areheldinthegeneralfundsoastoprovidereliable investment
incomeatalevelsuchthattheobjectivesoftheGuildcanbecarriedoutanacceptablelevel. Reserves
within the restricted funds are determined by the nature of the restrictions.
Page 1
GUILD OF ALL SOULS
REPORT OF THE TRUSTEES
for the Year Ended 30 June 2021
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
Thecharityiscontrolledbyitsgoverningdocument,adeedoftrustandconstitutesan unincorporated
charity.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number
240234
Principal address
Dalton House
60 Windsor Avenue
London
SW19 2RR
Trustees
Ms A Gray
Mr J Furber QC
Fr R Farmer
Independent Examiner
MMP Accounting Solutions Ltd
Chartered Certified Accountants
3 Queen Street
Ashford
Kent
TN23 1RF
Investment Advisers
Charles Stanley & Co Ltd
55 Bishopsgate
London
EC2N 3AS
Bankers
National Westminster Bank
Fleet Street (B) Branch
PO Box 281
156 Fleet Street
London
EC4A 2DX
National Westminster Bank
Fakenham
Norfolk
NR21 9BA
Approved by order of the board of trustees on 6 October 2021 and signed on its behalf by:
Mr J Furber QC - Trustee
Page 2
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
GUILD OF ALL SOULS
Independent examiner's report to the trustees of Guild of All Souls
IreporttothecharitytrusteesonmyexaminationoftheaccountsofGuildofAllSouls(theTrust)for the
year ended 30 June 2021.
Responsibilities and basis of report
AsthecharitytrusteesoftheTrustyouareresponsibleforthepreparationoftheaccountsin accordance
with the requirements of the Charities Act 2011 ('the Act').
IreportinrespectofmyexaminationoftheTrust'saccountscarriedoutundersection145oftheAct and
incarryingoutmyexaminationIhavefollowedallapplicableDirectionsgivenbytheCharity Commission
under section 145(5)(b) of the Act.
Independent examiner's statement
Ihavecompletedmyexamination.Iconfirmthatnomaterialmattershavecometomyattention in
connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
2. the accounts do not accord with those records; or
3. the accounts do 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.
Ihavenoconcernsandhavecomeacrossnoothermattersinconnectionwiththeexaminationto which
attentionshouldbedrawninthisreportinordertoenableaproperunderstandingoftheaccountsto be
reached.
Nick May
FCCA
MMP Accounting Solutions Ltd
Chartered Certified Accountants
3 Queen Street
Ashford
Kent
TN23 1RF
6 October 2021
Page 3
GUILD OF ALL SOULS
STATEMENT OF FINANCIAL ACTIVITIES
for the Year Ended 30 June 2021
Unrestricted
fund
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2,383
Investment income
2
22,088
Other income
-
Total
24,471
EXPENDITURE ON
Raising funds
3
5,601
Charitable activities
Promotion of the doctrines of the Christian
creed
16,960
Total
22,561
Net gains/(losses) on investments
40,906
NET INCOME/(EXPENDITURE)
42,816
RECONCILIATION OF FUNDS
Total funds brought forward
538,443
TOTAL FUNDS CARRIED FORWARD
581,259 |
Restricted
fund
£
1,235
10,113
8,425
19,773
4,454
18,401
22,855
18,415
15,333
326,885
342,218 |
30.6.21
Total
funds
£
3,618
32,201
8,425
44,244
10,055
35,361
45,416
59,321
58,149
865,328
923,477 |
30.6.20
Total
funds
£
6,030
33,742
-
39,772
10,754
39,951
50,705
(64,445)
(75,378)
940,706
865,328 |
|
|
|
|
The notes form part of these financial statements
Page 4
GUILD OF ALL SOULS
BALANCE SHEET
30 June 2021
Notes
FIXED ASSETS
Tangible assets
6
Investments
7
CURRENT ASSETS
Debtors
8
Prepayments and accrued income
Cash at bank and in hand
9
CREDITORS
Amounts falling due within one year
10
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
NET ASSETS
FUNDS
11
Unrestricted funds
Restricted funds
TOTAL FUNDS |
Unrestricted
fund
£
148,760
418,177
566,937
-
338
16,402
16,740
(2,418)
14,322
581,259
581,259 |
Restricted
fund
£
-
276,183
276,183
680
599
77,421
78,700
(12,665)
66,035
342,218
342,218 |
30.6.21
Total
funds
£
148,760
694,360
843,120
680
937
93,823
95,440
(15,083)
80,357
923,477
923,477
581,259
342,218
923,477 |
30.6.20
Total
funds
£
148,760
630,256
779,016
-
868
100,768
101,636
(15,324)
86,312
865,328
865,328
538,443
326,885
865,328 |
|
|
|
|
|
ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissue on
6 October 2021 and were signed on its behalf by:
Mr J Furber QC - Trustee
The notes form part of these financial statements
Page 5
GUILD OF ALL SOULS
NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 June 2021
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
Thefinancialstatementsofthecharity,whichisapublicbenefitentityunderFRS102,have been
preparedinaccordancewiththeCharitiesSORP(FRS102)'AccountingandReportingby Charities:
StatementofRecommendedPracticeapplicabletocharitiespreparingtheiraccountsin accordance
withtheFinancialReportingStandardapplicableintheUKandRepublicofIreland(FRS 102)
(effective1January2019)',FinancialReportingStandard102'TheFinancialReporting Standard
applicableintheUKandRepublicofIreland'andtheCharitiesAct2011.Thefinancial statements
havebeenpreparedunderthehistoricalcostconvention,withtheexceptionofinvestments which
are included at market value, as modified by the revaluation of certain assets.
Income
AllincomeisrecognisedintheStatementofFinancialActivitiesoncethecharityhasentitlement to
the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructive obligation
committingthecharitytothatexpenditure,itisprobablethatatransferofeconomicbenefits will
berequiredinsettlementandtheamountoftheobligationcanbemeasuredreliably. Expenditure
isaccountedforonanaccrualsbasisandhasbeenclassifiedunderheadingsthataggregate all
costrelatedtothecategory.Wherecostscannotbedirectlyattributedtoparticularheadings they
have been allocated to activities on a basis consistent with the use of resources.
Grantspayablearerecognisedintheaccountswhenpaidandothercharitableexpenditure is
recognised when a constructive obligation arises.
Tangible fixed assets
Tangiblefixedassetsotherthanfreeholdlandandlongleaseholdbuildingsarestatedatcost less
depreciation.Fixedassetsbelowacostof£100arenotcapitalised.Depreciationisprovided at
ratescalculatedtowriteoffthecostlessestimatedresidualvalueofeachassetoverits expected
useful life as follows:
Chapel equipment 20% per annum on a straight line basis
Freeholdandlongleaseholdbuildingarenotdepreciatedbecauseintheopinionofthetrustees any
depreciationwouldnotbematerialandbaseduponlocallandandpropertyvalues,the estimated
residual value exceeds book value.
There are no inalienable or historic assets.
Accumulated funds
Any restricted fund in deficit is eliminated by a transfer from the restricted fund.
2. INVESTMENT INCOME
Rents received
Investment income
Deposit account interest |
30.6.21
£
7,724
23,884
593
32,201 |
30.6.20
£
6,200
26,636
906 |
|
|
33,742 |
continued...
Page 6
GUILD OF ALL SOULS
NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2021
3. RAISING FUNDS
Investment management costs
Investment management costs |
|
|
|
30.6.21 |
30.6.20 |
|
£ |
£ |
Investment manager's fees |
10,055 |
10,754 |
4. TRUSTEES' REMUNERATION AND BENEFITS
Therewerenotrustees'remunerationorotherbenefitsfortheyearended30June2021nor for
the year ended 30 June 2020.
Trustees' expenses
During the year, reimbursement of trustees' expenses for travel amounted to £nil (2020: £177).
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
fund
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
4,012
Investment income
22,136
Total
26,148
EXPENDITURE ON
Raising funds
6,068
Charitable activities
Promotion of the doctrines of the
Christian creed
22,793
Total
28,861
Net gains/(losses) on investments
(41,080)
NET INCOME/(EXPENDITURE)
(43,793)
RECONCILIATION OF FUNDS
Total funds brought forward
582,236
TOTAL FUNDS CARRIED FORWARD
538,443 |
Restricted
fund
£
2,018
11,606
13,624
4,686
17,158
21,844
(23,365)
(31,585)
358,470
326,885 |
Total
funds
£
6,030
33,742
39,772
10,754
39,951
50,705
(64,445)
(75,378)
940,706
865,328 |
|
|
|
continued...
Page 7
GUILD OF ALL SOULS
NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2021
6. TANGIBLE FIXED ASSETS
TANGIBLE FIXED ASSETS |
|
|
|
|
COST
At 1 July 2020 and 30 June 2021
DEPRECIATION
At 1 July 2020 and 30 June 2021
NET BOOK VALUE
At 30 June 2021
At 30 June 2020 |
Land and
buildings
£
148,760
-
148,760
148,760 |
Office
Equipment
£
5,166
5,166
-
- |
Chapel
Equipment
£
5,795
5,795
-
- |
Totals
£
159,721 |
|
|
|
|
10,961 |
|
|
|
|
148,760 |
|
|
|
|
148,760 |
Land&buildingsincludesfreeholdpropertyatcostof£124,793(ChantryHouseat20 Cleaves
Drive) and long leasehold property at cost of £23,968 (Chapel at Walsingham).
Themarketvalueofthelandandbuildingsrecordedintheaccountsatacostof£148,761may be
substantiallydifferentfromthemarketvalue.TheTrusteesdonotconsideritagooduseof the
Guildfundstoobtainaprofessionalvaluationsocannotgiveparticularsofanydifference. Fixed
assetscostingunder£100arecapitalised.Impairmentreviewsarenotconsiderednecessary on
account of the nature of the assets held.
7. FIXED ASSET INVESTMENTS
FIXED ASSET INVESTMENTS |
|
|
Listed |
|
investments |
|
£ |
MARKET VALUE |
|
At 1 July 2020 |
630,256 |
Additions |
118,331 |
Disposals |
(113,545) |
Revaluations |
59,318 |
At 30 June 2021 |
694,360 |
NET BOOK VALUE |
|
At 30 June 2021 |
694,360 |
At 30 June 2020 |
630,256 |
There were no investment assets outside the UK. |
|
Cost or valuation at 30 June 2021 is represented by: |
|
|
Listed |
|
investments |
|
£ |
Valuation in 2021 |
694,360 |
continued...
Page 8
GUILD OF ALL SOULS
NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2021
8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.21
30.6.20
£
£
Other debtors
680
-
9.
CASH AT BANK AND IN HAND
30.06.21
30.06.20
£
£
Current accounts
14,262
6,675
Short term deposits:
General Fund
12,115
12,120
Charles Stanley - general capital account
5,894
20,419
Parents of Rev J Jones Memorial for the Guild Chapel in
Walsingham
10,000
10,000
Rev J Jones Bequest for St Mary the Virgin, Great Snoring
500
500
Rev P Laister for Holy Redeemer, Clerkenwell
51,052
51,054
93,823
100,768
10.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.21
30.6.20
£
£
Other creditors
15,083
15,324
11.
MOVEMENT IN FUNDS
Net
movement
At
At 1.7.20
in funds
30.6.21
£
£
£
Unrestricted funds
General fund
538,443
42,816
581,259
Restricted funds
Restricted Funds
326,885
15,333
342,218
TOTAL FUNDS
865,328
58,149
923,477 |
30.6.21
£
680 |
30.6.21
£
680 |
30.6.21
£
680 |
30.6.20
£
- |
30.6.20
£
- |
30.6.20
£
- |
|
30.06.21 |
|
|
30.06.20 |
|
|
|
|
|
£ |
|
£ |
|
|
|
|
|
|
|
|
|
|
|
14,262 |
|
6,675 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
12,115 |
|
12,120 |
|
|
|
|
5,894 |
|
20,419 |
|
|
|
|
10,000 |
|
10,000 |
|
|
|
|
500 |
|
500 |
|
|
|
|
51,052 |
|
51,054 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
93,823 |
|
100,768 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
30.6.21
£
15,083
Net
movement
in funds
£
42,816
15,333
58,149 |
|
|
30.6.20
£
15,324
At
30.6.21
£
581,259
342,218
923,477 |
|
Net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
Restricted funds
Restricted Funds
TOTAL FUNDS |
Incoming
Resources
Gains and
Movement
resources
expended
losses
in funds
£
£
£
£
24,471
(22,561)
40,906
42,816
19,773
(22,855)
18,415
15,333
44,244
(45,416)
59,321
58,149 |
|
|
continued...
Page 9
GUILD OF ALL SOULS
NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2021
11. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
Unrestricted funds
General fund
Restricted funds
Restricted Funds
TOTAL FUNDS |
At 1.7.19
£
582,236
358,470
940,706 |
Net
movement
in funds
£
(43,793)
(31,585)
(75,378) |
At
30.6.20
£
538,443
326,885 |
|
|
|
865,328 |
Comparative net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
Restricted funds
Restricted Funds
TOTAL FUNDS |
Incoming
Resources
Gains and
Movement
resources
expended
losses
in funds
£
£
£
£
26,148
(28,861)
(41,080)
(43,793)
13,624
(21,844)
(23,365)
(31,585)
39,772
(50,705)
(64,445)
(75,378) |
|
|
A current year 12 months and prior year 12 months combined position is as follows:
Unrestricted funds
General fund
Restricted funds
Restricted Funds
TOTAL FUNDS |
At 1.7.19
£
582,236
358,470
940,706 |
Net
movement
in funds
£
(977)
(16,252)
(17,229) |
At
30.6.21
£
581,259
342,218 |
|
|
|
923,477 |
Acurrentyear12monthsandprioryear12monthscombinednetmovementinfunds,included in
the above are as follows:
Unrestricted funds
General fund
Restricted funds
Restricted Funds
TOTAL FUNDS |
Incoming
Resources
Gains and
Movement
resources
expended
losses
in funds
£
£
£
£
50,619
(51,422)
(174)
(977)
33,397
(44,699)
(4,950)
(16,252)
84,016
(96,121)
(5,124)
(17,229) |
|
|
continued...
Page 10
GUILD OF ALL SOULS
NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 June 2021
12. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 30 June 2021.
13. RESTRICTED FUNDS
Therestrictedfundstotalnetassetsof£342,218includesgrossinvestmentsinendowment funds
ofwhich£166,169comprisesthePLaisterFund.Sufficientresourcesareheldinan appropriate
form to enable each fund to be applied in accordance with any restrictions.
TheunrestrictedfundisforthepurposeofpromotingthetwogreatdoctrinesoftheChristian creed
"TheCommunionofSaints"and"TheResurrectionfromtheDead".Therestrictedand endowment
fundsaremaintainedforthebenefitoftheincumbents.Theunrestrictedfundhasarisen from
retained incoming resources and the restricted funds have arisen from legacies and bequests.
Page 11
GUILD OF ALL SOULS
DETAILED STATEMENT OF FINANCIAL ACTIVITIES
for the Year Ended 30 June 2021
|
30.6.21 |
30.6.20 |
|
£ |
£ |
INCOME AND ENDOWMENTS |
|
|
Donations and legacies |
|
|
Subscriptions & Donations |
3,118 |
5,530 |
Legacies |
500 |
500 |
|
3,618 |
6,030 |
Investment income |
|
|
Rents received |
7,724 |
6,200 |
Investment income |
23,884 |
26,636 |
Deposit account interest |
593 |
906 |
|
32,201 |
33,742 |
Other income |
|
|
Sundry receipts |
8,425 |
- |
Total incoming resources |
44,244 |
39,772 |
EXPENDITURE |
|
|
Investment management costs |
|
|
Investment manager's fees |
10,055 |
10,754 |
Charitable activities |
|
|
Staff costs |
8,604 |
8,604 |
Travelling |
- |
1,158 |
Intercession papers |
2,644 |
995 |
Patronage |
100 |
1,727 |
Annual requiem expenses |
- |
1,911 |
Chapel costs |
6,854 |
6,570 |
Bungalow expenses |
1,365 |
1,052 |
Payments to beneficiaries |
8,810 |
10,045 |
Grants to individuals |
350 |
1,120 |
|
28,727 |
33,182 |
Support costs |
|
|
Management |
|
|
Office rent, postage and office costs |
1,689 |
1,223 |
Finance |
|
|
Bank charges |
109 |
134 |
Governance costs |
|
|
Accountancy |
4,836 |
5,412 |
Total resources expended |
45,416 |
50,705 |
Net expenditure before gains and |
|
|
losses |
(1,172) |
(10,933) |
Realised recognised gains and losses |
|
|
Carried forward |
(6,008) |
(16,345) |
This page does not form part of the statutory financial statements
Page 12
GUILD OF ALL SOULS
DETAILED STATEMENT OF FINANCIAL ACTIVITIES
for the Year Ended 30 June 2021
|
30.6.21 |
30.6.20 |
|
£ |
£ |
Realised recognised gains and losses |
|
|
Brought forward |
(6,008) |
(16,345) |
Realised gains/(losses) on fixed asset |
|
|
investments |
5,037 |
(11,082) |
Net income/(expenditure) |
3,865 |
(22,015) |
This page does not form part of the statutory financial statements
Page 13