Company No. Lw86814 (Enoland and Wales) Reelrtertd Char¥ No. 241936 FELLOWSHIPOF THE pLE LEAF (THEI IA cornpany mIted by y•rantÈ*l REPORT A14D FIP4APKIAL STATEMEPll5 FOR THE Y£AA ENDED 31 DECEMBEA 2023
FELLOWSHIP OF ThE MAPLE LEAF (THE) coTrirE14TS TRUSTtts' ftepoftT INDEPENDEFIT ÉXAMINERSREPOftT STATEMENT OF FINANCIALA(TIVITIES IINCORPORATIWG INCOME & EXPENDITURE ICCOUNn NCE SHEET NOTes TO THE FINANCIALSTATEMENTS
FELLOWSHIP OF THE MAPLE LEAF (THEI TRUSTEES, REPORT The Trustees are pleased tts present their annual repjrt together with the finandal statements for the year endlng 31 December 2023 Iwhich are also prepared to meet the rg]uire1r for a directors, report and financial statements for the purp95es ol the Cornpanies Act 2Cl. OBJECTIVES & ACTMThES Our main objectives can be summarised as $ting thurd5 in Canada and the United ltingdom to learn Irorn each other In the areas ol mln5stry. ed¥catlon, and social contem and to 8rant indmdual bur5aris for study and sharlng of experiences lor CanadiaAS coming to the United Kin8dom and British people gryng to Canada. In settin8 our pro8ramme for making 8rants each year we have regard to both the Charity Commi55lon'$ general 8uldan£e on public benefit and the advancement of reli8ioU5 education for the public benefit. The Trustees always ensure thar the 8rants are made In line with our charitable objects and alms. ACHIEVEMENTS & PERFORMANCÉ Durin8 the year the Board a8reed to make 8TaThts to three UK indmdual applicants and to one Canadian Indldal appllcant. The B¢)ard approvèd the fourth and final annu418raTht to the Vancouver Sthool of Theology Native Minlsiry Consortlum 5UPPOrt ol Its Summer School. li was noted that our lai1$h1P wfjttt VST was stron8 and the Board once a8aln approved their application lor a grant to be spread over the next 4 years. The Board also a8reed that it should Investl8ate whether Similar connections las with VSTI could be made with othef Theolo8i¢al trèiniTh8 institutions within Canada. The Board received thanks and very stimulaUn8 reports from redpients of grants awafded. FIPIANCIAL AEVIÉW The charity received tot•1 In¢¢me of £32.05512022.' £30,523) •nd Incurred a wtal of £17,42612022: £25,391) by way of expenditure leavin8 Thet income of £14.62912022.. £5.1321. Incomè compristt dividtnd and interest. from inve5trnents. Expenditure include$ 8iants made totsllifi8 £13.63912022.. £21,610). The fi8Ufts are as shown in the Statemènt of Financlal The Stoternent ol Flnwclal ArtIlIeS •150 reflects the net 8•io on h)vestments of £95.739 after a much better year for tht markets12022.' was a net 10s5 of £134.2241. The overall net incrèase in funds was £110.36812022.' ntt detrtase of £129.0921 after taklng into account the 8ain12022- lossl on investments. The Trustees art pltasd with thts lrnprovtd position a5 they ontlnue to monltor the situarlon. In respect of reserves, Iht Tnjstees a polity of maintaining reserye5 to proted agaln5t ynfore5een fiurtuatlon5 In In¢ome. The policy Is io mabnt•in unrestrirted gtntral funds at a le¥el which would enable the charity to contlnue the provision of servicè5 il its sources ol income were to cease or be delayed si8nificantly in their gayment. The Trustees consider that it is prudent lor thn to aim to hdd re5er¥es equarin8 to one year's incorne. The Trusiees are satisfied that tht remainlne balance on unre5trirted general funds w?5 SatisfaOry at 31 De¢ember 2023. in line with this policy. STAUCW AE, GOVERNANCE & MAWIGEMENr The charity is a company Iimired by guarantee and as wch has no share capital. It IS 8¢Nemed by its Memorandum and Artlcles of Associatlon. Potential new Trustees are usually recommended to ihe 8oard. sometimes by ar*other Trustèè, sometimes bause potential Trustee has benefitted from a FML 8rant in the past and they have expressed an interest to be invofved, always because the potential Trustee has understandlng of InL1i8enoys rninistry in Canada. A potential Trustee is invited to attené a eoard Meetin8 to 8et a 'fed' for the the 8oard ¢2perates and then, rf appfoprlate, aA appoifitmtnt would be made at the next AGM.
FELLOWSHIP OF THE MAPLE LEAF (ThEI
TRUST£ES' REPORT ICONTDI
ADMINISTRATWE DETAIiS
Charrty number
Company numbèr
Re8lstered office
Trumees
241936
c286814 IErland and Wales)
TheVicara8e, IB Churth Road, London. N6 4QH
ftevd Orjxob B•ldtr
Revd Dr Ellen aark-Kv
Aevd DrJnnifer Cooptr
Revd lan Edgar
Revd Browen Edwards
Aevd Christine Hall
Thnvjthy Mil
Mrs Margaret Moves
Vtry Revd Andrew Nunn
Revd Canon Michael Smith Irtti8ned 21 March 20231
Rt Revd MarkTaNn•r Irt5i8nd 12 May 20231
Revd Tlmothy Miller
companyr•fary
TAUSTEES. RESPONSIèILmÉs
The Trustees (who are a150 thè Dirtrt¢Ys of the tharitable CLYnpany tor the purp05e5 of company lawl are fesponslble for
preparing a Trustee5' annual report and financial statements in accordance with aP1¢1b1• law and united Kln8dom
countiw Standard5 (United Kingdorn GeneralACpIed Ac¢ountln8 Practicel.
Company law rtgulTe5 th charltable company TNstees to prepare fiftanclal stsiements for eath flTh•nclal year whlch 8fve
true and lair view of the state ol aff•lrs of the chariiable £omp•ny and of its incomin8 resources and èpplitation of
re50urce5, intludin8 the ifttome and expendlture of the th•rft•ble ¢ompany for thai per6od. In preparln8 the financlal
ststèmènts the Trustees are quIre
FELLOWSHIP OF THE MAPLE LEAF IThEI TRUSTEES, REPORT ICONTDI TRUSTEES, RESPONSIBILlES l<ontdl The Trustees are responsible for the maIntenar and integrity of the charity and financial inforrnation included on the charitable company's website. Legislation in the United Kingdom Iming the preparation and dissemination of f1naneial Statements may dlffer fr¢)m legi5laty in otherSuri5dirtions. by ORDEA OF THE 8OARD OF TRUSTEES: Mrs Mar8•r Trustee yes
INDEPENOENT EXAMINER'S IIEPORT TOTHE TRUStEES OF FELLOWSHIP OF ThE MAPLE LEAF (THEI I report to the Trustees on my inoepenrtent examsnation of the finandal statements the tharitable company for the vear ended 31 Decembef 2023, which a set out on pa6es S to 9. Responslbllhles ond bosls olrvport As Trustee5 of the charitable company land alw its threctry5 for the PUfF of crffipany lawl you are respon51ble for the preparatlon of the flnanctal statements In accordance the requlreffnts ofthe Companie5 Art 2CQ6 lthe Act 20)61. Havng satisfied myself that the financial staternents of the tharitsble company are not rtquired to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination ol your charitable ompany'5 financi31 statements as carrsed out under section 145 of the Charities Act 2011 Ithe 2011 Act). In carrying Out my examlnatlon I have lo¢lowed the Dlrectlons 8lven by the Charity Commlsslon under sealon 14515) Ibl of the 2011 Act. Independent exomlnerfs statefflert I have cornpleted my exarnination. I confirm thit no matters have come to my attentlon In connectSon with the examination 8iwng me cause to believe.. i. accountln8 rec¢yds were not kept in respect of the thatftable •s reoulred by se¢iion 386 of the I16 Act.. or 2. the financial staternents do Thot accord with those record5: or 3. the financial statements do not ttynply w&t the a¢countin8 fequiremefits of secDon 396 of the 2Ct6 Art other than any reguirerneni thai ihe finan¢ial statements Bwe a true and fair view which Is not a matter considered as part of an ndependent exarninatlon.. 4. the financial ststements have not been prepared In accofdance wlth the methods and prfnclples of the Ststement of Recornrnended Prartice lor aryountin8 and reporting by charities (applicable to tIeS preparing their financial statements In accordance wlth the Flnanclal Reportln8 Standard appllcable in the UK and Republlc of Ireland IFPS 10211. I hwe no ¢oncems and hwe ¢cme across no othw matters in connection with the examlnatlon to whlth attentlon should be drawn In thls ieport In order to en•We a proper undefStardift8 of the finand•l statefflents to be reached. Allson Gray Ch¥rt•r•d A¢¢ouni•Dt IICASI Le Noyer, Ettrlck Torract Selklrk T07 4LE 141 D•te
FEILOWSHIP OF THE W4PLE LEAF (THE} STATEMENT OF FINANCIAL Ap41T1ES Iln¢orporatin8 In£ome & Expenditure Accountl For the Year Ended 31 December 2023 Unrestykw Endwnent Totsl funds Totsl fvnd5 Funds Funds 2013 Z022 Not• Inttsmé from: Investments 32,055 32,055 30.523 Total Inc¢• 32,055 32,OSS 30.S23 Expendlture on: Grants 13.639 3.091 696 13,639 3,091 696 21.610 3,085 696 General runnln8 tosts Independent exarniner's fee T1 •xpendlfvr• 17,426 17,426 25,391 Nel Income 14.629 14,629 5,132 Other recrynb5ed iaSnsllbts5grtl: Gèlnslllossesl on waluatlon of In¥estrents 95.739 95739 NET MOVEMENT IN FUNDS 14,629 95,739 110,368 1129,0921 RECONCILIATION OF FUN05.. TOTAL FUN05 BAOUGHT FORWARD 160.337 940,608 1,1(KJ,945 1230 037 TOTAL FUNDS CARRIEO FORWARD 174. 1036,347 1.211,313 I,ICQ,945 The notes on pa8e$ 7 to 9 lorm part of these financial srateThent&
FELLOVISHIP OF THE MA LEAF (ThEI BALANCÈ SHEET coMnY No. Iy)286814 IEn8land and Walesl Registered Charity No. 241936 As at 31 December 2023 2022 FIXED ASSETS Investments 1.113.336 1.017.597 CURRENT ASSETS Cash ar bank and In hand 98,673 98,673 LIABltlnES Creditors. Amounrsfolltnp due whiiin ofte yeor NET CURRENT ASSETS 696 696 97,977 83.348 TOTAL ASWS LESS CURRENT LIAWUTIES 1,211,313 1.211.313 I,IC(1,945 I,IrK),945 TOTAL NET ASSETS FUNDS OF THE CHARITY Unrestricted funds 174,%6 1.036,347 1.211,313 160.337 940.608 I.1,945 Expendable endowrnent fvnds TOTAL CHARI FUNDS The charltable company is •)tiiled to xmptit)n from ludit under SK¢ion 477 01 the Companies Act 2(1)6 for the year ended 31 December 2023. The mernbers have not requested the chaAtable £¢)mp•Ny to obtain an audit of It5 flnandal statements for the year ended 31 Decernber 2023 in a¢cNdan¢e wlth seciion 476 of the C¢>Tr)panitsAd 2(K6. TheTrustees acknowleil8e thdr responybilits for. lal en5urin8 that the Charrf<ab conyny keeps swer xcountin8 re¢tyds which ¢omply with S•ction 386 and 387 of thè Cornpanies Att 2CIJ6. and Ibl preparin8 fiftanclal statements which 8P• a true and fr ol the stste of alfalrs ol the tharftable company at the end of each financial year and of its suru5 or dtfiot for the financial year in accor(lance with rhe requlrements of section 394 and 395, and whith othtrwi5è cornply with the requlrtments of the Companies Aci 2¢Y)6 rdatln£ to financlal statèments, so far a5 applicable to the charitable cornpanv. These financlal staternents have been prepared In J¢cordan¢e T*Mh ihe prv41skns applicable to tompanles sublètt to th• small £ompaniè5 re8lme. The fiThanclal ststements pa8es 5 to 9 were approvÈd by theTrn5tees on 22 March 2024 and were 518ned on thelr behalf bv: 1. CLrttJ I Mrs Maryar Trustee oyes The notes on pages 7 to 9 forn part gfthe5e financial statements.
FEILOWSHIP OF THE MAPLE LEAF (ThEI NOTES TO THE FINANCIAL STATEMENTS Foi the Yeai Ended 31 Dember 2023 I ACCOUNnNG POUCIES Bosls olprepomtkni The f1nènctal statements have been prepared in x¢ordafice with"Attoufiting and Reportin8 by Charitie5.' Statement of Recommended Practice applicable to charities preparin8 ttteir Kcounts in èttordance with the Finantial Reportin8 Standard applicable in the UK and Republic of Ireland IFRS 1021 leffertNe January 20191. Icharities SORP FRS 1021,. thé Financial Reporting Standard appllcable ifi the VK and Republic of Ireland IFRS 1021.. with the Cornpaniè5 Act 2C¥J6 and wlth the chariry's Memorandum and Articles ol Associaticm. The tharitable company constitutes a public benefit entity as defined by FRS 102. There are no material unttrtaiTrtie5 aboLrt the charitsble companls ability to continue a5 a 8G4n8 con¢em. Incon recoqnltlon All income Is reco8nised ¢)nce the charitable company has entlyement to the Income. It Ss probable that the Income wlll be reteNed and the amount ol income receNable can be measured reliably. Uabilitits art rècognised as expenditure as soon as ihere is a le841 or constructrye obli8ètlon committin8 the tharitable company to that txpenditure, it is probable that settlement will be required and ihe amount of the obli8ation can be measured reliably. 1 expenditure ts accounted lor on art ac¢Nals basis and has been classified under headin8S approprlate to the charftable cornprfs dr¢urnstance5. Gwts are pald OfKe applic•tlons Ire •ppro¥ed by the Trustees. Investments Invesrrnenis are è form ol basic financial instrument which are initially ftcoBni5ed at their orlginal transactlgn value and subsequently mèasured at their lalr value as at the balance sheer date usin8 the closln8 gUQted rnarket pri¢e. Th• Statement ol Financial Activities includes the net 8alns and losses arlsln8 on fe¥aluation and disposals throu8hout the year. Funds Un$trItted 8eneral funds are funds whlch can be used In actordance wth thé objèrts of tht tharitablè company at the dlscretion of the Trustees. Restrirted income funds are funds that can only be used lor particular purpose5 Within the objects ol the charitable Company. Aestri¢tlons Irise whèn speeifitd by thè donor or whèn lund5 ar raised for particular restdcted purposes. There are ¢urrenily no fesiricted income funds. Endowment funds ao also restritted and thè tharltablt cornpany has an expendable endowment fund. representin6 the ntt increase in the value of assets investtd through The CBF Church of En8land Investrrent Fund, which are held to woduce income out of which tht expenses of the charitable company are paid. and alw iheyants made. 2 INVESTMENT INCOME 2023 2022 Dividends Interest 30,432 1,623 32,055 30,265 258 30,523 3 GIIANTS PAID 2023 2021 VancoLtyer School ofTheolo8y Grants to individuals ICan8dal Grants to indtvidua15 IUKI 9.014 1,17S 3.450 13,639 12.526 1.248 7.336 21.610
FELLOWSHIP OF THE PAAPLE LEAF IThEI NOTES TO THE FINANCIAL STATEMEPITS ICONTDI Forthe Year Ended 31 Decernber 2023 4 TRU5TEES' REmuNE114TK AND EXPENSES Re¥d Timothy Miller was paid £1.76312022.. £1.7421 and Mr5 Margaret Moyes was paid £44112022.. £4361 for secretarial seNces durin8 the year. Expenses relmbufsed totalled £68212022.. £4771 in respect of 5 Trustet512022.. 4 Trustee51 for 5ervice5 provided to the harity. 5 RELATED PARTY TRANSACTIONS Other than destribed in note 4 abob*, there were rela Pafty transaakn) 6 INVESTMENTS Ilrted In¥estments At I lanuary 2023 Ai 31 Oe¢ember 2023 76,989 76,989 Valuatlon At l January 2023 Galn valuatlon 940.608 95,739 1,036,347 At 31 December 2023 Market valy• At 31 Decembtr 2023 1.113.336 1.01?,597 At 31 Decernber 2022 2023 2022 7 CAEDtTOAS: Amount5lolllno6ue wtthirt l Accrued expenses 696 696 696
FELLOWSMIP OF THE MAPLE LEAF IThEI NOTES TO THE FIPIANCJAL STATEMENTS IcopifD} For the Year Ended 31 December 1013 8 AP4ALYSIS OF CTrIARITAbLE FUNDS Balante Gns & Funds 01.01.23 31.12.23 UNREsTRe0 FUNDS Genèral funds 160.337 160,337 32,055 117,4261 17.426 174.966 174,966 Total ynrestrl¢ted lunds RESTAICTED FUNDS Expendable endowment fund Totsl r•sffl¢ted fvnds TOTAL CHARITY FUNOS 9S,739 95.739 95.739 1,036,347 1,036,347 1,211,313 940,608 I,l(KJ,945 32.055 17.426 8alanc• G•bns & Funds . PREVIOU5 YEAR OIAII.22 In¢om• Expenses 31.11.22 UNRESTRICTEO FUNDS General funds IS5.205 155,205 1.523 125,391 25.391 160,337 160,337 Tot•1 unfestred fvnds AESTRICTED FUNDS Expendable endowment fund Totsl restrl¢ted fvnds TOTAL CHARITY FUNOS 1,074.832 134,224 940.608 1,074.832 134.224 940.608 1.230.037 30,523 I,ILX).945 25,391 134,224 The expendable endowment fund reprsersts the Thet increase in value of the fixed asset investments, over the orl8inal purchase prict of the investrnents. which are hdd in •yder io produce intomt out ol whlch the charlty expenditure is met. Unfestrkted Ehdowmefit Total 9 ANALYSIS OF NET ASSEfs BETWEEN FUNDS Funds Funds Fufids Investments 76,989 98.673 1,036.347 1.113,336 98,673 696 1,211.313 Cash at bank and In hand Credltors.. Amounts f311in8 due within oneyear Net assets at 31 Decernber 2023 174.966 1,036,347 Unrestrirted EndlYeTrt Tmal Funds Funds Fund5 Investments 76.989 940,608 1,017,597 Cash at bank and in hand Creditors.. Amounts fallifi8 due within <)ne year Nèt assets at 31 Oecernber 2022 16961 160,337 1696 I,l(X).945 940,fy)8