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|||||Page|
|---|---|---|---|---|
|Annual
Report ofthe Trustees||||1-8|
|Independent
Examiner's
Report||||9-10|
|Statement of Financial
Activities|(including|Income and Expenditure|Account)||
|Balance Sheet||||12|
|Statement
ofCash Flows||||13|
|Notes to the Financial Statements||||14-20|
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||||||Expendable|Total|Total||
|---|---|---|---|---|---|---|---|---|
|||||Special|Endowment|Funds|Funds||
||||Note|Funds|Fund
f|2023|2022||
|Income and endowments||from:|||||||
|Investment
income||||10,608|48,994|59,602|54,775||
|Donations|||||14,966|14,966|15,589||
|Charitable
Activities|||||7,184|7,184|6,405||
|Total income and endowment||||10,608|71,144|81,752|76,769||
|Expenditure
on:|||||||||
|Charitable
activities
Governance
costs
Investment
Management|costs||6
8
10|(4,000)|(21,505)
(61,032)
(5,077)|(25,505)
(61,032)
(5,077)|(17,587)
(55,974)
(5,202)||
|Total expenditure||||4 000|87,614|91 614|78 763||
|Net income/(expenditure)|||||||||
|before net gains/(losses)||on|||||||
|investment
assets||||6,608|(16,470)|(9,862)|(1,994)||
|Net gains/(loss)
on|||||||||
|investment
assets|||||||||
|Net movement
in funds||||(4~97/)|(92,015)|(96,992)|81,537||
|Reconciliation
offunds:|||||||||
|Total funds brought
forward||at 1 April|2022|219,201|1,298,210|1,517,411|1,435,874||
|Total funds carried forward|||||||||
|at 31 March 2023 (page|12)|||K214,224|j1,206,195|61,420,419|61,517,411||
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||THE|FELLOW|SHIP OF STALBAN AND STSERG|IUS|
|---|---|---|---|---|
||||BALANCE SHEET||
||||AT 31 MARCH 2023||
|||Note|2023
f|2022f|
|Fixed Assets|||||
|Investments
at|market|2|1,372,255|1,464,576|
|value|||||
|Current Assets|||||
|Debtors|||12,888||
|||||8,385|
|Cash deposits|held|12|37,995|46,096|
|Total current assets|||50,883|54,481|
|Creditors —amounts|||||
|falling due within one year||13|(2,719)|(1,646)|
|Net Current Assets|||48,164|52,835|
|Total Net Assets|||51 42D 419|51 511411|
|Charity Funds:|||||
|Expendable
Endowment|||||
|Fund|||1,206,195|1,298,210|
|Special Funds|||214,224|219,201|
||||51 42D 419|f1,517,411|
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||||Page|2023||
|---|---|---|---|---|---|
|Cash flows from operating
activities||||||
|Net movement
in funds for the year||||(96,992)|81,537|
|Adjustments
for:||||||
|Investment
income|||||(54,775)|
|||||(59,602)||
|Net (gain)/loss
on investment
Decrease/(increase)
in debtors|assets|||87,130
(4,503)|(83,531)
(628)|
|Increase/(decrease)
in creditors||||1,073|5|
|Net cash generated
from operating||activities||72 894|57392|
|Cash flows from investing
activities||||||
|Investment
income||||59,602|54,776|
|Payments
to acquire investments
Receipts from sales ofinvestments|||15
15|(97,699)
102,927|(128,009)
128,860|
|Net cash generated
from investing||activities||64,830|55,627|
|Net increase/decrease
in cash and
equivalent||cash||(8,064)|(1,767)|
|Cash and cash equivalents
at 1|April 2022|||552,802|E54,569|
|Cash and cash equivalents
at 31 March 2023||||f44,738|652,802|
|Cash and cash equivalents
consist||of:||||
|Cash held with:||||||
|Redmayne
Bentley||||6,743|6,706|
|CCLA||||25,307|25,307|
|Barclays Bank||||15,710|23,472|
|PayPal||||270|678|
|Banco Santander||||589|520|
|||||48,619|56,683|
|Less London Branch||||(3,881)|(3,881)|
|||||44,738|52,802|
|Less investment
cash reported|under note 2|||6,743|6,706|
||||12|F37,995|K46,096|
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||||Special|Endowment|Total|Total|
|---|---|---|---|---|---|---|
|Investments
at market value|||Funds|Fundsf|2023
E|2022|
|comprise:|||||||
|Quoted investments
within|the UK||177,980|815,987|993,967|1,212,309|
|Quoted investments
outside||the UK||371,545|371,545|245,561|
|Total investments
excluding||cash|177,980|1,187,532|1,365,512|1,457,870|
|Cash at Redmayne-Bentley||—capital||6,743|6,743|6,706|
|account|||||||
|Total investment
assets (page 12)|||E177980|F1 194275|E1 372255|L'1,464 576|
|Quoted investments|||||||
|Market value at 1 April 2022|||189,565|1,268,305|1,457,870|1,375,190|
|Additions
at cost||||97,699|97,699|128,009|
|Disposals at carrying
value
Net realised gains/(losses)|on sales|||(102,927)
4,610|(102,927)
4,610|(128,860)
773|
|Net unrealised
gains/(losses)||on|||||
|revaluation|||11,585|80,155|91,740|82,758|
|Market value at 31 March|2023||8177,980|51,187,532|1,365,512|L'1,457,870|
|Historical cost at 31 March||2023|F128894|61,017,075|F1,145969|61 111912|
|Unrealised
net gains on investment|||||||
|Assets|||F49,086|E170,457|8219,543|6345958|
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||FlXED ASSETS INVESTMENTS (contin|FlXED ASSETS INVESTMENTS (contin|FlXED ASSETS INVESTMENTS (contin|ued)|||||
|---|---|---|---|---|---|---|---|---|
||Value ofinvestments
held exceeding|||5'/o|||2023|2022|
||ofthe investment
portfolio||||||||
||M8G Investment
Management||Limited|Charifund|Inc||177,980|8189,565|
||||||||13.03'/a|12.94'/o|
|||||Special||Endowment|Total|Total|
|3.|INVESTMENT INCOME|||Funds||Fund
6|2023f|2022f|
||Total Income from quoted|investments||10,020||48,994|59,014|54,775|
||Deposit Interest (page 11)|||588
610,608||848,994|588
F59,602|f54,775|
|4.|DONATIONS
AND LEGACIES||||||2023|2022f|
||Subscriptions||||||14,203|14,652|
||Gift Aid relief||||||673|807|
||Donations||||||90|130|
||||||Page|11|F14,966|f15,589|
|5.|INCOME FROM CHARITIABLE||ACTIVITIES||||||
||Conference
Payments
Publications||||||6,975
209|5,881
524|
||||||Page|11|67,184|K6,405|
|6.|CHARITABLE ACTIVITIES||||||||
||Expenditure
on Charitable|Activities;|||||||
||Charitable
grants made|(see|note 7)||Page|17|4,000|2,092|
||Publication
expenses||||||10,453|9,883|
||Annual
conference||||||11,052|5,612|
||||||Page|11|825,505|E17,587|
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||F|O|R T|HE YEAR ENDED 31|MARCH 2023|||
|---|---|---|---|---|---|---|---|
||||||Page|2023
f|2022
f|
|7.|CHARITABLE GRANTS|MADE||||||
||Rowan Williams
Retirement||Conference|||3,000||
||Pusey House Theological|Conference|||||2,000|
||Dr Marcus Plested (book)|||||1,000||
||Special Fund travel grant|1—(2022 x 1)|||||92|
||Special Fund library fund|grant||||||
||Total charitable
grants made|||(see note 6)|16|f4,000|f2,092|
|8.|GOVERNANCE
COSTS|||||||
||Salary costs (see note 9)|||||46,128|45,195|
||Rental expenses|||||6,345|5,821|
||Director and general secretarial|||expenses||3,159|1,334|
||Administration
expenses|||||1,064|847|
||Hospitality|||||22|197|
||Office expenses|||||1,027|731|
||Telephone
and post|||||871|840|
||Insurance|||||856|724|
||Publicity|||||||
||Subscriptions|||||150|285|
||Legal fees|||||1,410||
||Total governance
costs|||||f61,032|f55,974|
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|9.|SALARIES|||Page|2023f|2022f|
|---|---|---|---|---|---|---|
||Net Salary payments
were made to:-||||||
||M Johnstone
(Treasurer)||||6,939|6,814|
||The Very Revd Stephen
Platt (General Secretary)||||22,464|21,984|
||The Revd Dr Kristian Akselberg||||5,797|5,676|
||PAYE & NIC||||7,580|7,440|
||Pension
contributions||||3,348|3,281|
||Total salary costs (note 8)|||17|f46,128|f45,195|
|10.|INVESTMENT MANAGEMENT||FEES||||
||Redmayne
Bentley||||f5,077|f5,202|
|11.|DEBTORS||||||
||Investment
income
in course ofcollection||||6,760|5,750|
||HM Revenue
&Customs - Gift Aid reclaim||||3,308|2,635|
||Legal Charges||||2,820||
|||||12|f12 888|f8,385|
|12.|CASH DEPOSITS HELD||||||
||Barclays Bank —community|account|||15,710|23,472|
||Redmayne
Bentley —capital|account|||6,743|6,706|
||PayPal account||||270|678|
||Banco Santander —business|account|||589|519|
||CCLA —Church of England|deposit account|||25,307
f48,619|25,307
f56,682|
||Less: Investment
cash reported||under note 2||(6,743)|(6,706)|
||Less London
Branch|||12|(3,881)
f37,995|(3,881)
F46,095|
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|13.|CREDITORS - amounts|falling due with|falling due with|one year|Page|2023f|2022f|
|---|---|---|---|---|---|---|---|
||HMRC & NEST|||||889|893|
||Investment
management|fees||||637|753|
||General Secretary Expenses|||||1,193||
||||||12|f2 719|f1,646|
|14.|FUND RECONCILIATION|||||||
||||Balance|||Gains/|Balance|
||||b/f 2022f|Incomef|Expendituref|(losses)f|c/f 2023f|
||Special Funds
(see below)||219,201|10,608|(4,000)|(11,585)|214,224|
||Endowment
Fund|1,298,210||71,144|(87,614)|(75,545)|1,206,195|
||Total Funds|1,517,411||81,752|91,614|87,130|1,420,419|
||Special Funds:|||||||
||Hill Fund||48,450|2,346|(1,000)|(2,562)|47,234|
||Anne Spalding|||||||
||Fund||55,305|2,678|(1,000)|(2,925)|54,058|
||Library Fund||7,054|342||(373)|7,023|
||Gillet Fund||157||||157|
||Lascelles Fund||108,235|5,242|(2,000)|(5,725)|105,752|
||||219,201|10608|4,000|11585|214224|
|15.|ANALYSIS OF NET ASSETS||BETWEEN|FUNDS||||
|||||Special|Endowment|Total|Total|
|||||Fundsf|Fundf|2023f|2022f|
||Investments|||177,980|1,194,275|1,372,255|1,464,576|
||Debtors||||12,888|12,888|8,385|
||Cash at Bank|||36,244|1,751|37,995|46,096|
||Creditors||||(2,719)|(2,719)|(1,646)|
||Total Funds (page 12)|||f214,224|f1,206,195|f1,420,419|f1,517,411|
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