| PAGE | ||
|---|---|---|
| Report ofthe trustees | ||
| Independent auditor's |
report to the trustees | |
| Statement of financial |
activities | |
| Balance sheet | 12 | |
| Notes to the financial | statements | 13 |
| Registered | charity | name | Anne French Memorial | Anne French Memorial | Trust | ||||
|---|---|---|---|---|---|---|---|---|---|
| Charity registration | number | 254567 | |||||||
| Principal office | Bishop's House | ||||||||
| Norwich | |||||||||
| Norfolk | |||||||||
| NR3 1SB | |||||||||
| The trustees | |||||||||
| The trustees | who served | during the year and at the | date of approval | were as follows: | |||||
| The Rt Revd Graham | Usher, Bishop of Norwich | ||||||||
| The Venerable | Steven | Betts, Archdeacon | of Norfolk | ||||||
| Stuart Jones, Bishop's | Legal Secretary | ||||||||
| Administrator | Mrs Louise Cumberland | ||||||||
| Financial advisor | Nigel Whitlam | ||||||||
| Auditor | Lovewell Blake | LLP | |||||||
| Chartered accountants |
8 statutory | auditor | |||||||
| Bankside 300 | |||||||||
| Peachman Way |
|||||||||
| Broadland Business Park |
|||||||||
| Norwich | |||||||||
| NR7 OLB | |||||||||
| Bankers | Barclays Bank Pic | ||||||||
| 3 StJames Court | |||||||||
| Norwich | |||||||||
| Norfolk | |||||||||
| NR3 1RJ |
| Report ofthe Trus Year ended 5April |
tees (continued) 2023 |
|
|---|---|---|
| Solicitors | Birketts | |
| Kingfisher | House | |
| 1 Gilders Way | ||
| Norwich | ||
| Norfolk | ||
| NR3 1UB | ||
| Stockbrokers | Barratt 8 Cooke Limited | |
| 5-6 Opie Street | ||
| Norwich | ||
| Norfolk | ||
| NR1 3DW |
| Percentage of |
||||
|---|---|---|---|---|
| total grants | ||||
| awarded (%) |
||||
| Charities | and community | groups | 35% | |
| Clergy support | ||||
| Training | oforganists | 4% | ||
| Lay development | officers | 18% | ||
| Churches | and church property | 12% | ||
| Other | 14% |
| 2023 | 2022 | ||
|---|---|---|---|
| F | F | ||
| General funds | 249,859 | 247,348 | |
| Lay Development | Fund | 40,068 | |
| Bishop of Norwich | Fabric Fund | 6,000 | 8,000 |
| Bishop Ingle Holiday Trust (restricted) | 4,500 | ||
| 255,859 | 299,916 |
| Unrestricted | Funds | |||||||
|---|---|---|---|---|---|---|---|---|
| Total | Total | |||||||
| Note | Income | Capital | Designated | Funds | Funds | |||
| Fund F |
Fundf | Funds | 2023 E |
2022 | ||||
| Income from: | ||||||||
| Donations and legacies |
4,500 | |||||||
| Investments | 253201 | 253 201 | 253 291 | |||||
| Total income | 253201 | 253 201 | 257 791 | |||||
| Expenditure on: |
||||||||
| Charitable activities: |
||||||||
| Grants committed in |
year | 249,859 | 6,000 | 255,859 | 299,916 | |||
| Grant commitments | written | |||||||
| back | (328,694) | |||||||
| Administration, | governance | |||||||
| and finance costs | 14943 | 96 | 15039 | 18794 | ||||
| Total expenditure | 264 802 | 6096 | 270 898 | ~9984 | ||||
| Net (losses)/gains | on | ~452 332 | ~452 332 | 918853 | ||||
| investments | ||||||||
| Net income | (11,601) | (452,332) | (6,096) | (470,029) | 1,186,628 | |||
| Transfer of Lay Development | ||||||||
| fund Transfer to Capital |
fund | 15 15 |
(28,571) ~88442 |
972,306 88 442 |
(943,735) | |||
| Net movement in |
funds | (128,614) | 608,416 | (949,831) | (470,029) | 1,186,628 | ||
| Reconciliation of |
funds | |||||||
| Total funds brought | forward | 192883 | 7 844 113 | 998508 | 9035 504 | 7 848 876 | ||
| Total funds carried forward |
| 5April 20 | 23 | |||||||
|---|---|---|---|---|---|---|---|---|
| 2023 | 2022 | |||||||
| Note | ||||||||
| Fixed assets | ||||||||
| Investments | 8,452,529 | 8,906,628 | ||||||
| Current assets | ||||||||
| Debtors | 12 | 5,548 | 5,096 | |||||
| Cash at bank | and | in | hand | 146,045 | 167,469 | |||
| 151,593 | 172,565 | |||||||
| Creditors: Amounts | falling due within | |||||||
| one year | 13 | (23,647) | (23,689) | |||||
| Net current assets | 127,946 | 148,876 | ||||||
| Total assets | less | current liabilities | 8,580,475 | 9,055,504 | ||||
| Creditors: Amounts | falling due after | |||||||
| more than one year | 14 | (15,000) | (20,000) | |||||
| Net assets | 8,565,475 | 9,035,504 | ||||||
| Funds ofthe charity | ||||||||
| Unrestricted | funds | 8,565,475 | 9,035,504 | |||||
| Total charity | funds | 15 | 8,565,475 | 9,035,504 |
| Donations and legacies |
||||||
|---|---|---|---|---|---|---|
| Restricted | Total | Funds | Restricted | Total | Funds | |
| Funds | 2023 | Funds | 2022 | |||
| F | f. | |||||
| Grants | ||||||
| Grants | 4,500 | 4,500 |
| Investment income |
||||
|---|---|---|---|---|
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
| Funds | 2023 | Funds | 2022 | |
| E | f | F | F | |
| Fixed interest securities | 37,064 | 37,064 | 36,138 | 36,138 |
| Equities | 214,642 | 214,642 | 216,800 | 216,800 |
| Interest receivable | 1,495 | 1,495 | 353 | 353 |
| 253,201 | 253,201 | 253,291 | 253,291 |
| Grant funding | Total funds | Total fund | |||||||
|---|---|---|---|---|---|---|---|---|---|
| ofactivities | Support costs | 2023 | 2022 | ||||||
| E | E | E | |||||||
| Grants | 255,859 | 255,859 | 299,916 | ||||||
| St Mary's Church Earlham |
grant | ||||||||
| commitment written back |
(328,694) | ||||||||
| Finance costs | 5,300 | ||||||||
| Governance costs |
15,039 | 15,039 | 13,494 | ||||||
| 255,859 | 15,039 | 270,898 | (9,984) | ||||||
| The grants recognised | during the year are analysed as | follows: | |||||||
| Number | 2023 f |
2022 | |||||||
| Grants to institutions | |||||||||
| Non Clergy grants Charities in the Diocese of Norwich |
29* | 24,154 | 26,967 | ||||||
| UKME Bursary | 25,000 | ||||||||
| Norfolk Church Buildings |
|||||||||
| Commission | 10,000 | ||||||||
| Norfolk Samaritans | 25,000 | ||||||||
| Thornage Hall Independent |
Living | 10,000 | |||||||
| King's Lynn Night | Shelter | 5,000 | |||||||
| Earlham Missional |
Community | 13,511 | |||||||
| Synergy MAT Trust |
5,000 | ||||||||
| Norfolk Community | Foundation | ||||||||
| (Bishop's Fund) | 6,490 | 5,500 | |||||||
| Buildings and maintenance |
|||||||||
| Parsonages | 30,000 | 30,000 | |||||||
| Other payments out of |
normal income |
||||||||
| Lay development Fabric fund |
officers | 1 6* |
45,679 6,000 |
40,068 8,000 |
|||||
| 170,834 | 145,535 | ||||||||
| Grants to individuals | |||||||||
| Support ofclergy Holiday grants |
15* | 10,657 | 8,404 | ||||||
| Diocesan Clergy Conference Courses and conferences |
6* | 5,087 | 18,206 4,050 |
||||||
| Books and gift tokens | 122 | 2,344 | 2,577 | ||||||
| Holy Week gifts | 395 | 2,715 | |||||||
| Other | 10 | 1,795 | 757 | ||||||
| Holy Land Pilgrimage | 19 | 20,000 | |||||||
| Youth and training | |||||||||
| Organists | 15 | 11,465 | 7,590 |
| Expenditure on charita |
b | le activ |
ities by activity t |
ype (continued) | |||
|---|---|---|---|---|---|---|---|
| Diocesan Expenses | |||||||
| Prizes | 1,057 | 1,000 | |||||
| Diocesan Mediation | Scheme | 8,905 | 11,763 | ||||
| Strategic Programme | Manager | 50,000 | |||||
| Giving Advisor | 50,000 | ||||||
| Parish Pastoral Issue | 21,000 | ||||||
| Other | 34 | ||||||
| 85,025 | 154,381 | ||||||
| Total grants | 255,859 | 299,916 | |||||
| *No grant exceeded F5,000. | |||||||
| 7. | Analysis ofgovernance | costs | |||||
| Total Funds | Total Funds | ||||||
| 2023 | 2022 | ||||||
| Audit and accountancy | (including | VAT) | 5,196 | 4,536 | |||
| Advisory and Administration |
8,400 | 7,700 | |||||
| Insurance | 553 | 526 | |||||
| Bank charges | 194 | 96 | |||||
| Investment fees |
696 | 636 | |||||
| 15,039 | 13,494 |
| 8. | Net (loss | es)/g | ains on inv |
est | ments | ||||
|---|---|---|---|---|---|---|---|---|---|
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||||||
| Funds | 2023 | Funds | 2022 | ||||||
| E | |||||||||
| Losses/(gains) | on investment | assets | (452,332) | (452,332) | 918,853 | 918,853 | |||
| 9. | Auditors | remuneration | |||||||
| 2023 | 2022 | ||||||||
| E | |||||||||
| Fees payable | for the audit | of | the financial | statements | 4,056 | 3,480 | |||
| Fees payable | for non-audit | services | 1 140 | 1 056 | |||||
| 5,196 | 4,536 |
| Cash or cash | Listed | ||||
|---|---|---|---|---|---|
| equivalents | investments | Total f |
|||
| Cost or valuation | |||||
| At 6 April | 2022 | 122,717 | 8,783,911 | 8,906,628 | |
| Additions | 81,334 | 891,289 | 972,623 | ||
| Disposals | (974,390) | (974,390) | |||
| Losses on investment | assets | (452,332) | (452,332) | ||
| At 5April | 2023 | 204,051 | 8,248,478 | 8,452,529 | |
| Carrying | amount | ||||
| At 5April | 2023 | 204,051 | 8,248,478 | 8,452,529 | |
| At 5 April | 2022 | 122,717 | 8,783,911 | 8,906,628 |
| 12. | Debtors | |||||
|---|---|---|---|---|---|---|
| 2023 | 2022 | |||||
| f | ||||||
| Prepayments | and | accrued income | 5,548 | 5,096 | ||
| 13. | Creditors: Amounts | falling due within one year | ||||
| 2023 | 2022 | |||||
| E | ||||||
| Accruals and | deferred | income | 5,196 | 4,536 | ||
| Grants committed | - Lay development | 11,471 | 10,008 | |||
| Grants committed | - UKME Bursary | 5,000 | 5,000 | |||
| Grants committed | - Other | 1,980 | 4,145 | |||
| 23,647 | 23,689 |
| 2023 | 2022 | |||||
|---|---|---|---|---|---|---|
| Grants | committed | - | UKME | Bursary | 15,000 | 20,000 |
| 2023 | ||||||||
|---|---|---|---|---|---|---|---|---|
| At 6 April | Gains and | At 5April | ||||||
| 2022 | Income | Expenditure | Transfers | losses | 2023 | |||
| General | Funds | 192,883 | 253,201 | (264,802) | (117,013) | 64,269 | ||
| Capital | Fund | 7,844,113 | 1,060,748 | (452,332) | 8,452,529 | |||
| Lay Development | ||||||||
| Fund | 943,735 | (943,735) | ||||||
| Clergy | ||||||||
| Conference | Fund | 30,000 | 30,000 | |||||
| Fabric | Fund | 24,773 | (6,096) | 18,677 | ||||
| 9,035,504 | 253,201 | (270,898) | (452,332) | 8,565,475 |
| 2022 | ||||||||
|---|---|---|---|---|---|---|---|---|
| At 6 April | Gains and | At 5April | ||||||
| 2021 | Income | Expenditure | Transfers | losses | 2022 | |||
| General | Funds | (311,387) | 225,679 | 62,648 | 215,943 | 192,883 | ||
| Capital | Fund | 7,075,568 | (50,000) | 818,545 | 7,844,113 | |||
| Lay Development | ||||||||
| Fund | 855,883 | 27,612 | (40,068) | 100,308 | 943,735 | |||
| Building | Fund | 96,441 | (96,441) | |||||
| Clergy | ||||||||
| Conference | Fund | 119,502 | (89,502) | 30,000 | ||||
| Fabric Fund | 12,869 | (8,096) | 20,000 | 24,773 | ||||
| 7,848,876 | 253,291 | 14,484 | 918,853 | 9,035,504 | ||||
| Restricted funds | ||||||||
| Bishop | Ingle | |||||||
| Holiday | Trust | 4,500 | (4,500) | |||||
| 7,848,876 | 257,791 | 9,984 | 918,853 | 9,035,504 |
| 2023 | ||||||||
|---|---|---|---|---|---|---|---|---|
| Tangible | Net current | Non current | ||||||
| fixed assets | Investments | assets | liabilities | Total | ||||
| F | F | F | ||||||
| Unrestricted | Income Funds: | |||||||
| Capital | Fund | 8,452,529 | 8,452,529 | |||||
| Clergy | Conference | Fund | 30,000 | 30,000 | ||||
| Fabric | Fund | 18,677 | 18,677 | |||||
| General | Funds | 79,269 | (15,000) | 64,269 | ||||
| 8,452,529 | 127,946 | (15,000) | 8,565,475 | |||||
| 2022 | ||||||||
| Tangible | Net current | Non current | ||||||
| fixed assets | Investments | assets | liabilities | Total | ||||
| E | F | |||||||
| Unrestricted | Income Funds: | |||||||
| Capital | Fund | 7,934,322 | (90,209) | 7,844,113 | ||||
| Clergy | Conference | Fund | 30,000 | 30,000 | ||||
| Lay Development | Fund | 972,306 | (28,571) | 943,735 | ||||
| Fabric | Fund | 24,773 | 24,773 | |||||
| General | Funds | 202,883 | (20,000) | 192,883 | ||||
| 8,906,628 | 148,876 | (20,000) | 9,035,504 |
| Financial in |
struments | |||||
|---|---|---|---|---|---|---|
| The carrying | amount for each | category offinancial | instrument | is as follows | ||
| 2023 | 2022 | |||||
| F | ||||||
| Financial assets measured | at fair value through | income | and expenditure | |||
| Fixed asset | listed investments | (note 11) | 8,452,529 | 8,906,628 |