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2022-09-30-accounts

CHRISTIAN SCIENCE SOCIETY, MAIDSTONE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER 2022

Contents Pages
Legal and Administrative Details 1
Trustees Report 2-3
Independent Examiners Report 4
Statement of Financial Activities 5
Balance Sheet 6
Notes to the Financial Statements 7-11
Budget for 2022/23 12

Registered Charity Number 255941

CHRISTIAN SCIENCE SOCIETY, MAIDSTONE LEGAL AND ADMINISTRATIVE DETAILS AT 30 SEPTEMBER 2022

Page 1

PRESIDENT

Mrs E Hutchison

PROPERTY TRUSTEES

Mrs J Harmer J S Penrose P Snell

EXECUTIVE BOARD

Mrs J Harmer Mrs S Parker P Snell

CLERK

Mrs C A Penrose

INDEPENDENT EXAMINER

Mrs K High ACA 556 Loose Road Loose, Maidstone Kent, ME15 9UR

BANKERS

Santander UK Plc. Bridle Road, Bootle Merseyside, L30 4GB

NatWest 3 High Street, Maidstone Kent, ME14 1HJ

Close Brothers Ltd 10 Crown Place London EC2A 4FT

SOLICITORS

Whitehead Monckton 5 Eclipse Park Sittingbourne Road Maidstone Kent, ME14 3EN

STOCKBROKERS

Hargreaves Lansdown 1 College Square South Anchor Road Bristol, BS1 5HL

CHURCH ADDRESS

Vinters Road Maidstone Kent, ME14 5DX Telephone (01622) 685830 Email: csmaidstone@gmail.com Web site: csmaidstone.co.uk

CHRISTIAN SCIENCE SOCIETY, MAIDSTONE TRUSTEES' REPORT

Page 2

The Trustees are pleased to present their report and the financial statements of the charity for the year ended 30th September 2022.

Structure, Governance and Management

Governing Document

Christian Science Society, Maidstone is governed by By-laws which were last revised in 2007 and approved by the Members at a meeting on 16 July 2007. The By-laws can be amended at a Members' meeting by a two-thirds' majority vote by ballot of the total membership of the charity. The Society is an unincorporated charity registered with The Charity Commissioners in England and Wales with registration number 255941.

Organisational Structure

The Society is managed by an Executive Board who are elected annually at the AGM in January. The Board meet on a regular basis as required and report to the members at each quarterly Members' meeting. The Church's freehold property and investments are held by Trustees who are appointed by the members in general meeting.

Risk Management

The Board have identified the major risks to which they believe the charity is exposed and these are reviewed from time to time to ensure systems are established to mitigate such risks.

Objects, Activities, Achievements and Performance for the public benefit

The Trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Church's aims and objectives and in planning future activities.

Charitable Objects

The principal objectives of the Society are to spread the understanding of Truth as set forth in the Bible and interpreted in "Science and Health with Key to the Scriptures" by Mary Baker Eddy, the discoverer and founder of Christian Science.

Review of activities

Sunday services together with Wednesday testimony meetings on the first Wednesday of each month were held throughout the year. In addition, a thanksgiving service was held on Saturday 13th November 2021. Our Reading Room was open to the public two times a week and our Reading Group held meetings on the second Saturday of each month throughout the year. We again took part in the Kent Churches sponsored "Ride and Stride" which this year took place on 10th September 2022. During the year we continued our involvement in the Maidstone Interfaith Network having at least one representative at most of their meetings some of which were held via Zoom.

Financial Review

The accounts have been prepared in accordance with the Statement of Recommended Practice (Accounting and Reporting by Charities) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective from 1 January 2019) and known as the Charities SORP (FRS 102), and the Charities Act 2011.

Total income for the year amounted to £38,339 a reduction of £39,942 on the previous year's figure of £78,281. This reduction was due to the receipt of a generous donation of £45,000 from the members of FCCS Tunbridge Wells in the previous year. Total expenditure during the year at £23,337 was some £1,659 up on the previous year's figure of £21,678 due mainly to the fact we were closed for sixteen weeks in the previous year due to the covid-19 restrictions.

CHRISTIAN SCIENCE SOCIETY, MAIDSTONE TRUSTEES' REPORT (Continued)

Page 3

Financial Review (continued)

The net income for the year before realised and unrealised investment gains and losses amounted to £15,002 as compared to £56,603 in 2020/21. After the net realised and unrealised investment gains and losses during the year of £48,177 losses (2020/21 gains of £87,502), the net movement in funds amounted to a reduction of £33,175 as compared to an increase of £144,105 in 2020/21.

Reserves

The Society's policy with regard to its free reserves is to maintain these at a sufficient level to ensure that it can continue to meet its objectives in the community in which it operates for the foreseeable future.

Trustees

The Charity Trustees (Members of the Executive Board) and the Property Trustees who served during the financial year and at the date of this report were as follows:

Executive Board: Mrs J Harmer (Appointed 15 January 2022) Mrs E Hutchison (Retired 15 January 2022) Mrs S Parker J S Penrose (Retired 15 January 2022) P Snell (Appointed 15 January 2022) Property Trustees: Mrs J Harmer J S Penrose P Snell

Trustees' responsibilities in relation to the financial statements

The law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the Charity’s financial activities during the year and of its financial position at the end of the year. In preparing financial statements giving a true and fair view, the Trustees should follow best practice and:

The Trustees are responsible for keeping accounting records which disclose with reasonable accuracy the financial position of the Charity and which enable them to ensure that the financial statements comply with the Charities Act 2011 and the provisions of the By-laws. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by the Trustees on 14th January 2023 and signed on their behalf by:

Mrs S Parker Chairman

CHRISTIAN SCIENCE SOCIETY, MAIDSTONE Page 4 INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES OF CHRISTIAN SCIENCE SOCIETY, MAIDSTONE

I report on the accounts of the Society for the year ended 30 September 2022 which comprise the Statement of Financial Activities, the Balance Sheet and related notes set out on pages 5 to 11.

This report is made solely to the trustees in accordance with Section 145 of the Charities Act 2011. My work has been undertaken so that I might state to the charity’s trustees those matters I am required to state to them in an Independent Examiner’s report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's trustees for my examination work.

Respective responsibilities of trustees and examiner

The trustees are responsible for the preparation of the accounts. They consider that an audit is not required for this year under Section 144 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.

It is my responsibility to:

Basis of independent examiner’s statement

My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the Society and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a "true and fair view" and the report is limited to those matters set out in the statement below.

Independent examiner’s statement

In connection with my examination, no matter has come to my attention:

1. which gives me reasonable cause to believe that in any material respect the requirements:

have not been met, or

2. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Kathy High ACA 556 Loose Road, Loose, Maidstone, Kent, ME15 9UR

6th April 2023

CHRISTIAN SCIENCE SOCIETY, MAIDSTONE STATEMENT OF FINANCIAL ACTIVITIES

Page 5

FOR THE YEAR ENDED 30TH SEPTEMBER 2022

Unrestricted
--------------Restricted Funds--------------		 Unrestricted
--------------Restricted Funds--------------		 Unrestricted
--------------Restricted Funds--------------		 Unrestricted
--------------Restricted Funds--------------		 2022 2021
Building and Reading
General Maintenance Charity Room
Note Fund Fund Fund Fund Total
Income From: £ £ £ £ £ £
Donations and collections 2 2,799 - 164 - 2,963 46,786
Charitable activities 3 2,082 917 2,999 1,658
Investment income 4 12,878 16,780 29,658 27,506
Other income 5 2,231 488 2,719 2,331
Total income 19,990 17,268 164 917 38,339 78,281
Expenditure On:
Raising funds-Hargreaves Lansdown account charges 412 559 971 837
Charitable activities 6 4,667 13,754 1,170 19,591 17,016
Grants and donations payable 7 2,250 200 2,450 3,500
Governance cost: Independent Examiners fees 325 325 325
Total expenditure 7,654 14,313 200 1,170 23,337 21,678
Net income before investment gains and losses 12,336 2,955 (36) (253) 15,002 56,603
Investment gains/(losses):Realised 442 601 1,043 -
Unrealised 9 (23,130) (26,090) (49,220) 87,502
(10,352) (22,534) (36) (253) (33,175) 144,105
Transfer between funds-Grant to Reading Room (500) 500 - -
Net movement in funds (10,852) (22,534) (36) 247 (33,175) 144,105
Total funds brought forward at 1 October 2021 376,453 930,137 150 (68) 1,306,672 1,162,567
Total funds carried forward at 30 September 2022 365,601 907,603 114 179 1,273,497 1,306,672

The annexed notes form part of these financial statements

CHRISTIAN SCIENCE SOCIETY, MAIDSTONE BALANCE SHEET AT 30TH SEPTEMBER 2022

Page 6

Unrestricted
2022
Building and
Reading
General
Maintenance Charity
Room
Note
Fund
Fund
Fund
Fund
Total
FIXED ASSETS
£
£
£
£
£
Tangible Assets
8
255,055
255,055
Investments
9
250,316
193,344
443,660
250,316
448,399
-
-
698,715
Close Brothers Term Deposits repayable after more than a year
10,340
264,660
275,000
CURRENT ASSETS
Stocks for own use
1d)
141
141
Income Tax Recoverable
538
33
571
Debtors and Prepayments
925
482
1,407
Accrued Income
819
2,717
3,536
Close Brothers Ltd-Term Deposits
98,001
180,198
278,199
Hargreaves Lansdown Income & Capital Accounts
4,315
5,862
10,177
Cash at Bank and in hand
1,528
6,135
81
639
8,383
106,126
195,394
114
780
302,414
LESS CURRENT LIABILITIES
Creditors
1,181
850
601
2,632
NET CURRENT ASSETS
104,945
194,544
114
179
299,782
TOTAL NET ASSETS
365,601
907,603
114
179
1,273,497
REPRESENTED BY:
The funds of the charity:
Unrestricted
365,601
365,601
Restricted
907,603
114
179
907,896
TOTAL CHARITY FUNDS
365,601
907,603
114
179
1,273,497
--------------Restricted Funds--------------		 2021
£
265,592
497,739
763,331
405,000
112
333
1,429
3,307
106,079
3,538
25,276
140,074
1,733
138,341
1,306,672
376,453
930,219
1,306,672

These financial statements were approved by the Board on 14th January 2023 and signed on their behalf by:

P Snell

J S Penrose Trustee

Trustee

The annexed notes form part of these financial statements

CHRISTIAN SCIENCE SOCIETY, MAIDSTONE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER 2022

Page 7

1. ACCOUNTING POLICIES

a) Basis of preparation of the financial statements

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019), the Charities SORP (FRS102).

The charity meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s). Donated assets are included at their estimated market value.

b) Fund accounting

Funds held by the charity are either:

Unrestricted general fund: These are funds which can be used in accordance with the charitable objects at the discretion of Trustees and the Members.

Restricted funds: These are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund.

c) Depreciation

Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost of each asset evenly over its estimated useful life as follows:

asset evenly over its estimated useful life as follows:
Church Building 50 years
Furniture, Fixtures, Fittings and Equipment 10 years
Computer Equipment 5 years
Solar Panels 25 years

d) Stocks

Stocks of Reading Room books and literature for resale are written off in the year of purchase. Other stocks have been valued at the lower of cost or net realisable value.

e) Fixed asset investments

Investments are re-valued to market value at 30th September each year and the unrealised gains or losses are shown in the Statement of Financial Activities.

f) Income

Grants, donations and legacies are accounted for when their receipt is reasonably certain. All other income is included on an accruals basis.

g) Expenditure

Expenditure is provided for on an accruals basis.

Charitable activities include expenditure associated with the promotion of the charity's objectives and include both direct costs and support costs relating to these activities.

Governance costs include those incurred in the governance of the charity and its assets and are primarily associated with constitutional and statutory requirements.

h) Irrecoverable VAT

Irrecoverable VAT is charged against the category of resources expended for which it was incurred.

i) Volunteers

The charity relies for support on unpaid volunteers. The value of the volunteers time is not included in the SOFA.

2. Donations and collections received

Donations and collections received
General Building and Charity
Fund
Maintenance Fund
£
Fund
£
Collections
1,438
Donations Under Gift Aid
713
110
Other Donations
-
21
Income Tax Recoverable under Gift Aid & GASD
538
33
Kent Churches sponsored walk
110
2,799
-
164		 Reading
Room
Fund
£
-		 2022
Total
£
1,438
823
21
571
110
2,963		 2021
Total
£
862
464
45,005
333
122
46,786

CHRISTIAN SCIENCE SOCIETY, MAIDSTONE Page 8 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER 2022 (Cont

3. Income from charitable activities
Room hire
Sales of literature and books etc.
4. Investment income
Close Brothers Ltd interest
Hargreaves Lansdown interest
Dividend Income
5. Other income
Solar feed in tariff
Hargreaves Lansdown loyalty bonus
6. Costs of charitable activities
Advertising
Cost of sales of reading room stock
Depreciation
Establishment Costs:
Cleaning
Garden Costs
Heat and Light
Insurance
Repairs and Maintenance
Water and Sewerage Rates
Honoraria
Organists & Soloists Fees & Music
Printing, Postage and Stationery
COP Pro Rata Contributions
Quarterlies, Books and CDs
Sundry
Telephone and Internet
Travelling Expenses		 Note
9
8		 Building and
General
Maintenance
Fund
Fund
£
£
2,082
2,082
-
1,161
5,744
1
11,716
11,036
12,878
16,780
1,872
359
488
2,231
488
442
10,537
637
881
1,031
1,027
672
198
1,526
585
1
77
324
249
220
14
4,667
13,754		 Reading
Room
£
917
917
-
-
1,128
42
1,170		 2022
Total
£
2,082
917
2,999
6,905
1
22,752
29,658
1,872
847
2,719
442
1,128
10,537
637
881
1,031
1,027
672
198
1,526
585
43
77
324
249
220
14
19,591		 2021
Total
£
887
771
1,658
6,610
-
20,896
27,506
1,633
698
2,331
440
931
10,537
315
855
578
982
186
125
1,194
90
49
75
335
81
243
-
17,016

CHRISTIAN SCIENCE SOCIETY, MAIDSTONE

Page 9

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER 2022 (Continued)

7. Grants and donations payable
Easter Camp 2022
Hawthorne Trust Ltd
Joint CSRRUK
Joint CSRRUK re Commonwealth Games
Maidstone Christian Care Day Centre
Maidstone Interfaith Network
Mountlands Trust
8. Tangible fixed assets
Cost
At 1st October 2021
Additions
At 30th September 2022
Depreciation
At 1st October 2021
Charge for the year
At 30th September 2022
Written Down Value at 30th September 2022
Written Down Value at 30th September 2021		 2022
General
Charity
Fund
Fund
Total
£
£
£
-
-
200
200
250
250
1,000
1,000
1,000
1,000
2,250
200
2,450
Freehold Land
and Buildings
and Equipment
Total
£
£
£
538,123
47,116
585,239
-
-
538,123
47,116
585,239
282,541
37,106
319,647
9,803
734
10,537
292,344
37,840
330,184
245,779
9,276
255,055
255,582
10,010
265,592
Furniture, Fixtures		 2021
Total
£
100
2,000
100
-
1,000
300
-
3,500
Total
585,239
-
585,239
309,110
10,537
319,647
265,592

CHRISTIAN SCIENCE SOCIETY, MAIDSTONE

Page 10

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER 2022 (Continued)

9. Fixed asset investments
Holding
Original Market Value
Holding
30/09/21
Cost
30/09/21
Quantity
Cost
30/09/22
Unquoted Investments
Kentstone Properties Ltd
Ordinary shares of 50p
33,500
67,000
102,063
33,500
Quoted Investments
Lloyds Banking Group
Ordinary shares of 10p
2,649
1,347
1,233
2,649
Artemis Income
Class 1 Income units
4,286.51
9,885
10,727
4,286.51
Aviva Investors UK Listed Equity
Class 2 Income units
7,031.36
9,924
11,005
7,031.36
Aviva plc.
Ordinary shares of 25p
5,941
19,997
23,532
(1,426)
(4,999)
4,515
BP plc.
Ordinary shares of US$0.25
4,000
19,221
13,620
4,000
City of London Investment Trust
Ordinary shares of 25p
2,500
10,589
9,688
2,500
CT UK Equity Income (Formerly Threadneedle UK Equity Income)
Class 1 Income units
22,366.36
19,938
22,165
22,366.36
Class L Income units
5,822.755
9,974
11,225
5,822.755
EdenTree Responsible & Sustainable managed
Class B Income units
7,627.765
9,893
10,687
7,627.765
Edinburgh Investment Trust plc.
Ordinary shares of 25p
1,950
14,901
11,934
1,950
HL Multi-Manager High Income
Class A Income units
20,234.057
20,757
21,740
20,234.057
HL Multi-Manager Income &
Growth Trust Income units
21,303.792
19,869
20,343
21,303.792
HL Select UK Income
Income units
10,380.623
10,477
10,082
10,380.623
IFSL Marlborough Multi Cap Income
Class A Income units
22,433.620
29,834
33,960
70.112
99
22,503.732
Class P Income units
7,081.651
9,901
11,438
7,081.651
J O Hambro UK Equity
Class B Income units
17,258.992
29,833
31,066
24.333
41
17,283.325
Janus Henderson Asian Dividend
Income Inclusive units
18,779.34
19,837
16,650
18,779.34
Legal & General Group plc.
Ordinary shares of 2.5p
10,900
19,903
30,651
10,900
LF Abrdn Income Focus
Class Z Income units
19,353.197
19,771
10,807
19,353.197
Lloyds Banking Group
Ordinary shares of 10p
7,351
5,104
3,420
7,351
Merchants Trust plc.
Ordinary shares of 25p
4,170
20,066
22,476
4,170
Sainsbury(J) plc.
Ordinary shares of 28,4/7p
5,100
19,618
14,540
5,100
Shell plc.
Ordinary shares of €0.07
900
20,436
14,900
900
Tesco plc.
Ordinary shares of 6.333p
4,342
20,071
10,985
4,342
Verizon Communications Inc
Com Stock of US$0.10
264
6,328
10,580
264
Vodafone Group plc.
Ordinary shares of US$0.20
5,478
11,166
6,222
5,478
Total
475,640
497,739
(4,859)
General Fund
275,118
(1,671)
Building and Maintenance Fund
222,621
(3,188)
Additions/(Disposals)		 9. Fixed asset investments
Holding
Original Market Value
Holding
30/09/21
Cost
30/09/21
Quantity
Cost
30/09/22
Unquoted Investments
Kentstone Properties Ltd
Ordinary shares of 50p
33,500
67,000
102,063
33,500
Quoted Investments
Lloyds Banking Group
Ordinary shares of 10p
2,649
1,347
1,233
2,649
Artemis Income
Class 1 Income units
4,286.51
9,885
10,727
4,286.51
Aviva Investors UK Listed Equity
Class 2 Income units
7,031.36
9,924
11,005
7,031.36
Aviva plc.
Ordinary shares of 25p
5,941
19,997
23,532
(1,426)
(4,999)
4,515
BP plc.
Ordinary shares of US$0.25
4,000
19,221
13,620
4,000
City of London Investment Trust
Ordinary shares of 25p
2,500
10,589
9,688
2,500
CT UK Equity Income (Formerly Threadneedle UK Equity Income)
Class 1 Income units
22,366.36
19,938
22,165
22,366.36
Class L Income units
5,822.755
9,974
11,225
5,822.755
EdenTree Responsible & Sustainable managed
Class B Income units
7,627.765
9,893
10,687
7,627.765
Edinburgh Investment Trust plc.
Ordinary shares of 25p
1,950
14,901
11,934
1,950
HL Multi-Manager High Income
Class A Income units
20,234.057
20,757
21,740
20,234.057
HL Multi-Manager Income &
Growth Trust Income units
21,303.792
19,869
20,343
21,303.792
HL Select UK Income
Income units
10,380.623
10,477
10,082
10,380.623
IFSL Marlborough Multi Cap Income
Class A Income units
22,433.620
29,834
33,960
70.112
99
22,503.732
Class P Income units
7,081.651
9,901
11,438
7,081.651
J O Hambro UK Equity
Class B Income units
17,258.992
29,833
31,066
24.333
41
17,283.325
Janus Henderson Asian Dividend
Income Inclusive units
18,779.34
19,837
16,650
18,779.34
Legal & General Group plc.
Ordinary shares of 2.5p
10,900
19,903
30,651
10,900
LF Abrdn Income Focus
Class Z Income units
19,353.197
19,771
10,807
19,353.197
Lloyds Banking Group
Ordinary shares of 10p
7,351
5,104
3,420
7,351
Merchants Trust plc.
Ordinary shares of 25p
4,170
20,066
22,476
4,170
Sainsbury(J) plc.
Ordinary shares of 28,4/7p
5,100
19,618
14,540
5,100
Shell plc.
Ordinary shares of €0.07
900
20,436
14,900
900
Tesco plc.
Ordinary shares of 6.333p
4,342
20,071
10,985
4,342
Verizon Communications Inc
Com Stock of US$0.10
264
6,328
10,580
264
Vodafone Group plc.
Ordinary shares of US$0.20
5,478
11,166
6,222
5,478
Total
475,640
497,739
(4,859)
General Fund
275,118
(1,671)
Building and Maintenance Fund
222,621
(3,188)
Additions/(Disposals)		 9. Fixed asset investments
Holding
Original Market Value
Holding
30/09/21
Cost
30/09/21
Quantity
Cost
30/09/22
Unquoted Investments
Kentstone Properties Ltd
Ordinary shares of 50p
33,500
67,000
102,063
33,500
Quoted Investments
Lloyds Banking Group
Ordinary shares of 10p
2,649
1,347
1,233
2,649
Artemis Income
Class 1 Income units
4,286.51
9,885
10,727
4,286.51
Aviva Investors UK Listed Equity
Class 2 Income units
7,031.36
9,924
11,005
7,031.36
Aviva plc.
Ordinary shares of 25p
5,941
19,997
23,532
(1,426)
(4,999)
4,515
BP plc.
Ordinary shares of US$0.25
4,000
19,221
13,620
4,000
City of London Investment Trust
Ordinary shares of 25p
2,500
10,589
9,688
2,500
CT UK Equity Income (Formerly Threadneedle UK Equity Income)
Class 1 Income units
22,366.36
19,938
22,165
22,366.36
Class L Income units
5,822.755
9,974
11,225
5,822.755
EdenTree Responsible & Sustainable managed
Class B Income units
7,627.765
9,893
10,687
7,627.765
Edinburgh Investment Trust plc.
Ordinary shares of 25p
1,950
14,901
11,934
1,950
HL Multi-Manager High Income
Class A Income units
20,234.057
20,757
21,740
20,234.057
HL Multi-Manager Income &
Growth Trust Income units
21,303.792
19,869
20,343
21,303.792
HL Select UK Income
Income units
10,380.623
10,477
10,082
10,380.623
IFSL Marlborough Multi Cap Income
Class A Income units
22,433.620
29,834
33,960
70.112
99
22,503.732
Class P Income units
7,081.651
9,901
11,438
7,081.651
J O Hambro UK Equity
Class B Income units
17,258.992
29,833
31,066
24.333
41
17,283.325
Janus Henderson Asian Dividend
Income Inclusive units
18,779.34
19,837
16,650
18,779.34
Legal & General Group plc.
Ordinary shares of 2.5p
10,900
19,903
30,651
10,900
LF Abrdn Income Focus
Class Z Income units
19,353.197
19,771
10,807
19,353.197
Lloyds Banking Group
Ordinary shares of 10p
7,351
5,104
3,420
7,351
Merchants Trust plc.
Ordinary shares of 25p
4,170
20,066
22,476
4,170
Sainsbury(J) plc.
Ordinary shares of 28,4/7p
5,100
19,618
14,540
5,100
Shell plc.
Ordinary shares of €0.07
900
20,436
14,900
900
Tesco plc.
Ordinary shares of 6.333p
4,342
20,071
10,985
4,342
Verizon Communications Inc
Com Stock of US$0.10
264
6,328
10,580
264
Vodafone Group plc.
Ordinary shares of US$0.20
5,478
11,166
6,222
5,478
Total
475,640
497,739
(4,859)
General Fund
275,118
(1,671)
Building and Maintenance Fund
222,621
(3,188)
Additions/(Disposals)		 9. Fixed asset investments
Holding
Original Market Value
Holding
30/09/21
Cost
30/09/21
Quantity
Cost
30/09/22
Unquoted Investments
Kentstone Properties Ltd
Ordinary shares of 50p
33,500
67,000
102,063
33,500
Quoted Investments
Lloyds Banking Group
Ordinary shares of 10p
2,649
1,347
1,233
2,649
Artemis Income
Class 1 Income units
4,286.51
9,885
10,727
4,286.51
Aviva Investors UK Listed Equity
Class 2 Income units
7,031.36
9,924
11,005
7,031.36
Aviva plc.
Ordinary shares of 25p
5,941
19,997
23,532
(1,426)
(4,999)
4,515
BP plc.
Ordinary shares of US$0.25
4,000
19,221
13,620
4,000
City of London Investment Trust
Ordinary shares of 25p
2,500
10,589
9,688
2,500
CT UK Equity Income (Formerly Threadneedle UK Equity Income)
Class 1 Income units
22,366.36
19,938
22,165
22,366.36
Class L Income units
5,822.755
9,974
11,225
5,822.755
EdenTree Responsible & Sustainable managed
Class B Income units
7,627.765
9,893
10,687
7,627.765
Edinburgh Investment Trust plc.
Ordinary shares of 25p
1,950
14,901
11,934
1,950
HL Multi-Manager High Income
Class A Income units
20,234.057
20,757
21,740
20,234.057
HL Multi-Manager Income &
Growth Trust Income units
21,303.792
19,869
20,343
21,303.792
HL Select UK Income
Income units
10,380.623
10,477
10,082
10,380.623
IFSL Marlborough Multi Cap Income
Class A Income units
22,433.620
29,834
33,960
70.112
99
22,503.732
Class P Income units
7,081.651
9,901
11,438
7,081.651
J O Hambro UK Equity
Class B Income units
17,258.992
29,833
31,066
24.333
41
17,283.325
Janus Henderson Asian Dividend
Income Inclusive units
18,779.34
19,837
16,650
18,779.34
Legal & General Group plc.
Ordinary shares of 2.5p
10,900
19,903
30,651
10,900
LF Abrdn Income Focus
Class Z Income units
19,353.197
19,771
10,807
19,353.197
Lloyds Banking Group
Ordinary shares of 10p
7,351
5,104
3,420
7,351
Merchants Trust plc.
Ordinary shares of 25p
4,170
20,066
22,476
4,170
Sainsbury(J) plc.
Ordinary shares of 28,4/7p
5,100
19,618
14,540
5,100
Shell plc.
Ordinary shares of €0.07
900
20,436
14,900
900
Tesco plc.
Ordinary shares of 6.333p
4,342
20,071
10,985
4,342
Verizon Communications Inc
Com Stock of US$0.10
264
6,328
10,580
264
Vodafone Group plc.
Ordinary shares of US$0.20
5,478
11,166
6,222
5,478
Total
475,640
497,739
(4,859)
General Fund
275,118
(1,671)
Building and Maintenance Fund
222,621
(3,188)
Additions/(Disposals)		 Market Value
30/09/22

101,840
1,102
9,648
9,102
17,568
17,344
9,400
19,278
9,856

9,092
10,764
18,494
17,554
8,860
24,502
8,289
26,392
15,037
23,511
9,479
3,058
20,850
8,882
20,263
8,962
8,987
5,546		 Unrealised
Gain/(Loss)
(223)
(131)
(1,079)
(1,903)
(965)
3,724
(288)
(2,887)
(1,369)
(1,595)
(1,170)
(3,246)
(2,789)
(1,222)
(9,557)
(3,149)
(4,715)
(1,613)
(7,140)
(1,328)
(362)
(1,626)
(5,658)
5,363
(2,023)
(1,593)
(676)		 Income
inyear
3,685
56
435
405
1,775
712
490
708
365
480
484
867
831
391
1,492
503
1,561
966
2,039
515
157
1,141
668
701
473
439
413		 Income %
on cost
33,500
2,649
4,286.51
7,031.36
4,515
4,000
2,500
22,366.36
5,822.755
7,627.765
1,950
20,234.057
21,303.792
10,380.623
22,503.732
7,081.651
17,283.325
18,779.34
10,900
19,353.197
7,351
4,170
5,100
900
4,342
264
5,478		 5.50%
4.16%
4.40%
4.08%
11.83%
3.70%
4.63%
3.55%
3.66%
4.85%
3.25%
4.18%
4.18%
3.73%
4.98%
5.08%
5.23%
4.87%
10.24%
2.60%
3.08%
5.69%
3.41%
3.43%
2.36%
6.94%
3.70%
4.83%
(4,859) 443,660 (49,220) 22,752
(1,671)
(3,188)		 250,316
193,344		 (23,130)
(26,090)		 11,716
11,036

Shares in Kentstone Properties Ltd have been valued at the year end at the average price at which shares had changed hands during the period 1st April to 30th September 2022.

CHRISTIAN SCIENCE SOCIETY, MAIDSTONE

Page 11

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER 2022 (Continu

10. Statement of Cash Flows
Note
2022
Net cash generated/(used) in operating activities
11
2,577
Cash flows from investing activities:
Dividends and interest received
29,429
Purchase of fixed asset investments
(140)
Increase in Close Brothers term deposits (over 3 months to maturity)
(11,000)
Net cash provided by/(used in) investing activities
18,289
Changes in cash and cash equivalents in the year
20,866
Cash and cash equivalents at the beginning of the year
12
28,893
Cash and cash equivalents at the end of the year
12
49,759
11. Reconciliation of net movement in funds to net cash flow from operating activities
Net movement in funds
(33,175)
Adjustments for:
Depreciation
10,537
Dividends and interest received
(29,658)
Cost of investments disposed
4,999
Unrealised (gains)/losses
49,220
(Increase)/Decrease in stock
(29)
(Increase)/Decrease in debtors and prepayments
(216)
Increase/(Decrease) in creditors
899
Net cash generated/(used) in operating activities
2,577
12. Analysis of cash and cash equivalents
Close Brothers term deposits (within 3 months to maturity)
31,199
Hargreaves Lansdown Income & Capital Cash Accounts repayable on demand
10,177
Cash at bank and in hand
8,383
49,759		 2021
39,809
27,521
(49,668)
-
(22,147)
17,662
11,231
28,893
144,105
10,537
(27,506)
-
(87,502)
25
(413)
563
39,809
79
3,538
25,276
28,893

13. Trustees remuneration

None of the Trustees received any remuneration in respect of their office as a Trustee.

During the tear to 30th September 2022 Mrs E Hutchison was paid £340 for cleaning services (2020/21 £25), Mr J S Penrose was paid a total of £986 for gardening services and general repairs and maintenance (2020/21 £725) and Mrs C Penrose was paid £268 for temporary cleaning services (2021/22 £199).

CHRISTIAN SCIENCE SOCIETY, MAIDSTONE BUDGET FOR 2022/23

Page 12

BUDGET FOR 2022/23
Income from:
Donations & Collections
Income Tax Recoverable
Charitable activities
Room Hire
Sales of literature and books etc.
Investment income
Close Brothers & UTB interest
Dividend Income
Other income
Solar Feed in Tariff
Hargreaves Lansdown loyalty bonuses
Total income
Expenditure
Advertising
Cost of sales of reading room stock
Depreciation
Establishment Costs:
Cleaning
Garden Costs
Heat and Light
Insurance
Repairs and Maintenance
Water and Sewerage Rates
Hargreaves Lansdown account charges
Honoraria
Organists' & Soloist's Fees & Music
Printing, Postage and Stationery
Quarterlies, Books and CDs
Sundry
Telephone and Internet
COP Pro Rata Contributions
Grants and donations payable
Independent Examiners fees
Total resources expended
Net income		 Building and
General
Maintenance
Fund
Fund
£
£
2,200
550
2,000
1,355
6,800
11,500
11,000
1,800
350
500
19,755
18,300
450
10,537
750
900
2,200
1,100
3,500
200
430
570
1,750
750
200
350
200
250
100
2,000
335
9,215
17,357
10,540
943		 Charity
Fund
£
120
30
150
150
150
-		 Reading
Room
Fund
£
900
900
1,100
50
(300)
850
50		 Total
£
2,320
580
2,000
900
8,155
22,500
1,800
850
39,105
450
1,100
10,537
750
900
2,200
1,100
3,500
200
1,000
1,750
750
250
350
200
250
100
1,850
335
27,572
11,533