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2023-09-30-accounts

CHRISTIAN SCIENCE SOCIETY, MAIDSTONE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER 2023

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 2023/24 12

Registered Charity Number 255941

CHRISTIAN SCIENCE SOCIETY, MAIDSTONE LEGAL AND ADMINISTRATIVE DETAILS AT 30 SEPTEMBER 2023

Page 1

PRESIDENT

Mrs E Hutchison

PROPERTY TRUSTEES

Mrs J Harmer J S Penrose P Snell

EXECUTIVE BOARD

Mrs J Harmer J S Penrose 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

Close Brothers Ltd 10 Crown Place London EC2A 4FT

SOLICITORS

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

NatWest 3 High Street, Maidstone Kent, ME14 1HJ

United Trust Bank Ltd One Ropemaker Street London EC2Y 9AW

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 2023.

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 12th November 2022. Our Reading Room was open to the public on Saturdays and prior to the Wednesday testimony meetings 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 9th September 2023. During the year we continued our involvement in the Maidstone Inter-Faith Network having at least one representative at most of their meetings some of which were held via Zoom. During the National Inter-Faith week in November 2022 we joined with the Maidstone Inter-Faith Network and hosted a working lunch on 17th November which gave those attending an opportunity to learn more about different faiths. This was followed by our lecture given by Phillip Hockley entitled “A new view of God and its effect on well-being”.

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 £44,427 an increase of £6,088 on the previous year's figure of £38,339. This increase was due mainly to an increase of £5,170 in investment income as a result of higher deposit interest rates.

CHRISTIAN SCIENCE SOCIETY, MAIDSTONE TRUSTEES' REPORT (Continued)

Page 3

Financial Review (continued)

Total expenditure during the year at £25,987 was some £2,650 up on the previous year's figure of £23,337 due mainly to the costs incurred on our lecture.

The net income for the year before unrealised investment gains and losses amounted to £18,440 as compared to £15,002 in 2021/22. After the net unrealised investment gains during the year of £29,196 (2021/22 losses of £48,177), the net movement in funds amounted to an increase of £47,636 as compared to a reduction of £33,175 in 2021/22.

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 Mrs S Parker (Retired 14 January 2023) J S Penrose (Appointed 14 January 2023) P Snell 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 17th December 2023 and signed on their behalf by:

Mrs J Harmer Trustee

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 2023 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

19th January 2024

CHRISTIAN SCIENCE SOCIETY, MAIDSTONE STATEMENT OF FINANCIAL ACTIVITIES

Page 5

FOR THE YEAR ENDED 30TH SEPTEMBER 2023

Unrestricted
--------------Restricted Funds--------------		 Unrestricted
--------------Restricted Funds--------------		 Unrestricted
--------------Restricted Funds--------------		 Unrestricted
--------------Restricted Funds--------------		 2023 2022
Building and Reading
General Maintenance Charity Room
Note Fund Fund Fund Fund Total
Income From: £ £ £ £ £ £
Donations and collections 2 3,183 - 147 - 3,330 2,963
Charitable activities 3 2,679 1,018 3,697 2,999
Investment income 4 15,401 19,427 34,828 29,658
Other income 5 2,228 344 2,572 2,719
Total income 23,491 19,771 147 1,018 44,427 38,339
Expenditure On:
Raising funds-Hargreaves Lansdown account charges 380 517 897 971
Charitable activities 6 8,904 13,597 1,164 23,665 19,591
Grants and donations payable 7 1,000 150 1,150 2,450
Governance cost: Independent Examiners fees 275 275 325
Total expenditure 10,559 14,114 150 1,164 25,987 23,337
Net income before investment gains and losses 12,932 5,657 (3) (146) 18,440 15,002
Investment gains/(losses):Realised - - - 1,043
Unrealised 9 14,183 15,013 29,196 (49,220)
27,115 20,670 (3) (146) 47,636 (33,175)
Transfer between funds-Grant to Reading Room (300) 300 - -
Net movement in funds 26,815 20,670 (3) 154 47,636 (33,175)
Total funds brought forward at 1 October 2022 365,601 907,603 114 179 1,273,497 1,306,672
Total funds carried forward at 30 September 2023 392,416 928,273 111 333 1,321,133 1,273,497

The annexed notes form part of these financial statements

CHRISTIAN SCIENCE SOCIETY, MAIDSTONE BALANCE SHEET AT 30TH SEPTEMBER 2023

Page 6

HRISTIAN SCIENCE SOCIETY, MAIDSTONE
ALANCE SHEET AT 30TH SEPTEMBER 2023		 Page 6
Note
FIXED ASSETS
Tangible Assets
8
Investments
9
Term Deposits repayable after more than a year
CURRENT ASSETS
Stocks for own use
1d)
Income Tax Recoverable
Debtors and Prepayments
Accrued Income
Term Deposits repayable within a year
Hargreaves Lansdown Income & Capital Accounts
Cash at Bank and in hand
LESS CURRENT LIABILITIES
Creditors
NET CURRENT ASSETS
TOTAL NET ASSETS
REPRESENTED BY:
The funds of the charity:
Unrestricted
Restricted
TOTAL CHARITY FUNDS		 Note Unrestricted
2023
Building and
Reading
General
Maintenance Charity
Room
Fund
Fund
Fund
Fund
Total
£
£
£
£
£
244,533
244,533
264,545
208,443
472,988
264,545
452,976
-
-
717,521
67,208
337,792
405,000
131
131
-
-
-
959
529
1,488
4,179
5,881
10,060
53,200
124,800
178,000
834
1,132
1,966
2,476
6,135
111
751
9,473
61,648
138,477
111
882
201,118
985
972
549
2,506
60,663
137,505
111
333
198,612
392,416
928,273
111
333
1,321,133
392,416
392,416
928,273
111
333
928,717
392,416
928,273
111
333
1,321,133
--------------Restricted Funds--------------		 2022
£
255,055
443,660
Building and
General
Maintenance
Fund
Fund
£
£
244,533
264,545
208,443
264,545
452,976
67,208
337,792
-
959
529
4,179
5,881
53,200
124,800
834
1,132
2,476
6,135
61,648
138,477
985
972
60,663
137,505
392,416
928,273
392,416
928,273
392,416
928,273		 Charity
Fund
£
-
-
111
111
111
111
111
111		 Reading
Room
Fund
£
-
131
751
882
549
333
333
333
333
698,715
275,000
141
571
1,407
3,536
278,199
10,177
8,383
302,414
2,632
299,782
1,273,497
365,601
907,896
1,273,497

These financial statements were approved by the Board on 17th December 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 2023

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:

set 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.

Donations and collections received
Collections
DonationsUnder Gift Aid
Other Donations
Income Tax Recoverable under Gift Aid & GASDS
Kent Churches sponsored walk		 General Building and Charity
Fund
Maintenance
Fund
£
Fund
£
1,753
758
106
-
12
627
29
45
3,183
-
147		 Reading
Room
Fund
£
-		 2023
Total
£
1,753
864
12
656
45
3,330		 2022
Total
£
1,438
823
21
571
110
2,963

2. Donations and collections received

CHRISTIAN SCIENCE SOCIETY, MAIDSTONE Page 8 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER 2023 (Continued)

Note
3. Income from charitable activities
Room hire
Sales of literature and books etc.
4. Investment income
Interest received
Dividend Income
9
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
8
Establishment Costs:
Cleaning
Garden Costs
Heat and Light
Insurance
Repairs and Maintenance
Water and Sewerage Rates
Honoraria
13
Lecture costs
Organists & Soloists Fees & Music
Printing, Postage and Stationery
COP Pro Rata Contributions
Quarterlies, Books and CDs
Sundry
Telephone and Internet
Travelling Expenses		 Building and
General
Maintenance
Fund
Fund
£
£
2,679
2,679
-
4,023
8,591
11,378
10,836
15,401
19,427
1,974
254
344
2,228
344
462
10,522
980
972
1,630
1,108
15
209
1,743
3,186
603
131
91
382
244
223
-
8,904
13,597		 Reading
Room
£
1,018
1,018
-
-
1,120
44
1,164		 2023
Total
£
2,679
1,018
3,697
12,614
22,214
34,828
1,974
598
2,572
462
1,120
10,522
980
972
1,630
1,108
15
209
1,743
3,186
603
175
91
382
244
223
-
23,665		 2022
Total
£
2,082
917
2,999
6,906
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

CHRISTIAN SCIENCE SOCIETY, MAIDSTONE

Page 9

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER 2023 (Continued)

7. Grants and donations payable
Joint CSRRUK
Joint CSRRUK re Commonwealth Games
Maidstone Christian Care Day Centre
Mountlands Trust
8. Tangible fixed assets
Cost
At 1st October 2022
Additions
At 30th September 2023
Depreciation
At 1st October 2022
Charge for the year
At 30th September 2023
Written Down Value at 30th September 2023
Written Down Value at 30th September 2022		 2023
General
Charity
Fund
Fund
Total
£
£
£
150
150
-
1,000
1,000
-
1,000
150
1,150
Freehold Land
and Buildings
and Equipment
Total
£
£
£
538,123
47,116
585,239
-
-
538,123
47,116
585,239
292,344
37,840
330,184
9,803
719
10,522
302,147
38,559
340,706
235,976
8,557
244,533
245,779
9,276
255,055
Furniture, Fixtures		 2022
Total
£
200
250
1,000
1,000
2,450
Total
585,239
-
585,239
319,647
10,537
330,184
255,055

CHRISTIAN SCIENCE SOCIETY, MAIDSTONE

Page 10

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER 2023 (Continued)

9. Fixed asset investments
Holding
Original Market Value
Holding
30/09/22
Cost
30/09/22
Quantity
Cost
30/09/23
£
£
£
Unquoted Investments
Kentstone Properties Ltd
Ordinary shares of 50p
33,500
67,000
101,840
33,500
Quoted Investments
Lloyds Banking Group
Ordinary shares of 10p
2,649
1,347
1,102
2,649
Artemis Income
Class 1 Income units
4,286.51
9,885
9,648
4,286.51
Aviva Investors UK Listed Equity
Class 2 Income units
7,031.36
9,924
9,102
7,031.36
Aviva plc.
Ordinary shares of 25p
4,515
14,998
17,568
4,515
BP plc.
Ordinary shares of US$0.25
4,000
19,221
17,344
4,000
City of London Investment Trust
Ordinary shares of 25p
2,500
10,589
9,400
2,500
CT UK Equity Income
Class L Income units
11,299.78
19,938
19,278
22,366.36
Class L Income units
5,822.755
9,974
9,856
5,822.755
EdenTree Responsible & Sustainable managed
Class B Income units
7,627.765
9,893
9,092
7,627.765
Edinburgh Investment Trust plc.
Ordinary shares of 25p
1,950
14,901
10,764
1,950
HL Multi-Manager High Income
Class A Income units
20,234.057
20,757
18,494
20,234.057
HL UK Income Fund (Formerly HL Multi-Manager Income & Growth Trust)
Class A Income units
21,303.792
19,869
17,554
21,303.792
HL Select UK Income
Income units
10,380.623
10,477
8,860
10,380.623
IFSL Marlborough Multi Cap Income
Class P Income units
20,831.122
29,933
24,502
54.460
68
20,885.582
Class P Income units
7,081.651
9,901
8,289
7,081.651
J O Hambro UK Equity
Class Y Income units
23,404.802
29,874
26,392
50.973
64
23,455.775
Janus Henderson Asian Dividend
Class 1 Income units
15,245.69
19,837
15,037
15,245.69
Legal & General Group plc.
Ordinary shares of 2.5p
10,900
19,903
23,511
10,900
LF Abrdn Income Focus
Class Z Income units
19,353.197
19,771
9,479
19,353.197
Lloyds Banking Group
Ordinary shares of 10p
7,351
5,104
3,058
7,351
Merchants Trust plc.
Ordinary shares of 25p
4,170
20,066
20,850
4,170
Sainsbury(J) plc.
Ordinary shares of 28,4/7p
5,100
19,618
8,882
5,100
Shell plc.
Ordinary shares of €0.07
900
20,436
20,263
900
Tesco plc.
Ordinary shares of 6.333p
4,342
20,071
8,962
4,342
Verizon Communications Inc
Com Stock of US$0.10
264
6,328
8,987
264
Vodafone Group plc.
Ordinary shares of US$0.20
5,478
11,166
5,546
5,478
Total
470,781
443,660
132
General Fund
250,316
45
Building and Maintenance Fund
193,344
85
Additions/(Disposals)		 9. Fixed asset investments
Holding
Original Market Value
Holding
30/09/22
Cost
30/09/22
Quantity
Cost
30/09/23
£
£
£
Unquoted Investments
Kentstone Properties Ltd
Ordinary shares of 50p
33,500
67,000
101,840
33,500
Quoted Investments
Lloyds Banking Group
Ordinary shares of 10p
2,649
1,347
1,102
2,649
Artemis Income
Class 1 Income units
4,286.51
9,885
9,648
4,286.51
Aviva Investors UK Listed Equity
Class 2 Income units
7,031.36
9,924
9,102
7,031.36
Aviva plc.
Ordinary shares of 25p
4,515
14,998
17,568
4,515
BP plc.
Ordinary shares of US$0.25
4,000
19,221
17,344
4,000
City of London Investment Trust
Ordinary shares of 25p
2,500
10,589
9,400
2,500
CT UK Equity Income
Class L Income units
11,299.78
19,938
19,278
22,366.36
Class L Income units
5,822.755
9,974
9,856
5,822.755
EdenTree Responsible & Sustainable managed
Class B Income units
7,627.765
9,893
9,092
7,627.765
Edinburgh Investment Trust plc.
Ordinary shares of 25p
1,950
14,901
10,764
1,950
HL Multi-Manager High Income
Class A Income units
20,234.057
20,757
18,494
20,234.057
HL UK Income Fund (Formerly HL Multi-Manager Income & Growth Trust)
Class A Income units
21,303.792
19,869
17,554
21,303.792
HL Select UK Income
Income units
10,380.623
10,477
8,860
10,380.623
IFSL Marlborough Multi Cap Income
Class P Income units
20,831.122
29,933
24,502
54.460
68
20,885.582
Class P Income units
7,081.651
9,901
8,289
7,081.651
J O Hambro UK Equity
Class Y Income units
23,404.802
29,874
26,392
50.973
64
23,455.775
Janus Henderson Asian Dividend
Class 1 Income units
15,245.69
19,837
15,037
15,245.69
Legal & General Group plc.
Ordinary shares of 2.5p
10,900
19,903
23,511
10,900
LF Abrdn Income Focus
Class Z Income units
19,353.197
19,771
9,479
19,353.197
Lloyds Banking Group
Ordinary shares of 10p
7,351
5,104
3,058
7,351
Merchants Trust plc.
Ordinary shares of 25p
4,170
20,066
20,850
4,170
Sainsbury(J) plc.
Ordinary shares of 28,4/7p
5,100
19,618
8,882
5,100
Shell plc.
Ordinary shares of €0.07
900
20,436
20,263
900
Tesco plc.
Ordinary shares of 6.333p
4,342
20,071
8,962
4,342
Verizon Communications Inc
Com Stock of US$0.10
264
6,328
8,987
264
Vodafone Group plc.
Ordinary shares of US$0.20
5,478
11,166
5,546
5,478
Total
470,781
443,660
132
General Fund
250,316
45
Building and Maintenance Fund
193,344
85
Additions/(Disposals)		 9. Fixed asset investments
Holding
Original Market Value
Holding
30/09/22
Cost
30/09/22
Quantity
Cost
30/09/23
£
£
£
Unquoted Investments
Kentstone Properties Ltd
Ordinary shares of 50p
33,500
67,000
101,840
33,500
Quoted Investments
Lloyds Banking Group
Ordinary shares of 10p
2,649
1,347
1,102
2,649
Artemis Income
Class 1 Income units
4,286.51
9,885
9,648
4,286.51
Aviva Investors UK Listed Equity
Class 2 Income units
7,031.36
9,924
9,102
7,031.36
Aviva plc.
Ordinary shares of 25p
4,515
14,998
17,568
4,515
BP plc.
Ordinary shares of US$0.25
4,000
19,221
17,344
4,000
City of London Investment Trust
Ordinary shares of 25p
2,500
10,589
9,400
2,500
CT UK Equity Income
Class L Income units
11,299.78
19,938
19,278
22,366.36
Class L Income units
5,822.755
9,974
9,856
5,822.755
EdenTree Responsible & Sustainable managed
Class B Income units
7,627.765
9,893
9,092
7,627.765
Edinburgh Investment Trust plc.
Ordinary shares of 25p
1,950
14,901
10,764
1,950
HL Multi-Manager High Income
Class A Income units
20,234.057
20,757
18,494
20,234.057
HL UK Income Fund (Formerly HL Multi-Manager Income & Growth Trust)
Class A Income units
21,303.792
19,869
17,554
21,303.792
HL Select UK Income
Income units
10,380.623
10,477
8,860
10,380.623
IFSL Marlborough Multi Cap Income
Class P Income units
20,831.122
29,933
24,502
54.460
68
20,885.582
Class P Income units
7,081.651
9,901
8,289
7,081.651
J O Hambro UK Equity
Class Y Income units
23,404.802
29,874
26,392
50.973
64
23,455.775
Janus Henderson Asian Dividend
Class 1 Income units
15,245.69
19,837
15,037
15,245.69
Legal & General Group plc.
Ordinary shares of 2.5p
10,900
19,903
23,511
10,900
LF Abrdn Income Focus
Class Z Income units
19,353.197
19,771
9,479
19,353.197
Lloyds Banking Group
Ordinary shares of 10p
7,351
5,104
3,058
7,351
Merchants Trust plc.
Ordinary shares of 25p
4,170
20,066
20,850
4,170
Sainsbury(J) plc.
Ordinary shares of 28,4/7p
5,100
19,618
8,882
5,100
Shell plc.
Ordinary shares of €0.07
900
20,436
20,263
900
Tesco plc.
Ordinary shares of 6.333p
4,342
20,071
8,962
4,342
Verizon Communications Inc
Com Stock of US$0.10
264
6,328
8,987
264
Vodafone Group plc.
Ordinary shares of US$0.20
5,478
11,166
5,546
5,478
Total
470,781
443,660
132
General Fund
250,316
45
Building and Maintenance Fund
193,344
85
Additions/(Disposals)		 9. Fixed asset investments
Holding
Original Market Value
Holding
30/09/22
Cost
30/09/22
Quantity
Cost
30/09/23
£
£
£
Unquoted Investments
Kentstone Properties Ltd
Ordinary shares of 50p
33,500
67,000
101,840
33,500
Quoted Investments
Lloyds Banking Group
Ordinary shares of 10p
2,649
1,347
1,102
2,649
Artemis Income
Class 1 Income units
4,286.51
9,885
9,648
4,286.51
Aviva Investors UK Listed Equity
Class 2 Income units
7,031.36
9,924
9,102
7,031.36
Aviva plc.
Ordinary shares of 25p
4,515
14,998
17,568
4,515
BP plc.
Ordinary shares of US$0.25
4,000
19,221
17,344
4,000
City of London Investment Trust
Ordinary shares of 25p
2,500
10,589
9,400
2,500
CT UK Equity Income
Class L Income units
11,299.78
19,938
19,278
22,366.36
Class L Income units
5,822.755
9,974
9,856
5,822.755
EdenTree Responsible & Sustainable managed
Class B Income units
7,627.765
9,893
9,092
7,627.765
Edinburgh Investment Trust plc.
Ordinary shares of 25p
1,950
14,901
10,764
1,950
HL Multi-Manager High Income
Class A Income units
20,234.057
20,757
18,494
20,234.057
HL UK Income Fund (Formerly HL Multi-Manager Income & Growth Trust)
Class A Income units
21,303.792
19,869
17,554
21,303.792
HL Select UK Income
Income units
10,380.623
10,477
8,860
10,380.623
IFSL Marlborough Multi Cap Income
Class P Income units
20,831.122
29,933
24,502
54.460
68
20,885.582
Class P Income units
7,081.651
9,901
8,289
7,081.651
J O Hambro UK Equity
Class Y Income units
23,404.802
29,874
26,392
50.973
64
23,455.775
Janus Henderson Asian Dividend
Class 1 Income units
15,245.69
19,837
15,037
15,245.69
Legal & General Group plc.
Ordinary shares of 2.5p
10,900
19,903
23,511
10,900
LF Abrdn Income Focus
Class Z Income units
19,353.197
19,771
9,479
19,353.197
Lloyds Banking Group
Ordinary shares of 10p
7,351
5,104
3,058
7,351
Merchants Trust plc.
Ordinary shares of 25p
4,170
20,066
20,850
4,170
Sainsbury(J) plc.
Ordinary shares of 28,4/7p
5,100
19,618
8,882
5,100
Shell plc.
Ordinary shares of €0.07
900
20,436
20,263
900
Tesco plc.
Ordinary shares of 6.333p
4,342
20,071
8,962
4,342
Verizon Communications Inc
Com Stock of US$0.10
264
6,328
8,987
264
Vodafone Group plc.
Ordinary shares of US$0.20
5,478
11,166
5,546
5,478
Total
470,781
443,660
132
General Fund
250,316
45
Building and Maintenance Fund
193,344
85
Additions/(Disposals)		 Market Value
30/09/23

£
103,850
1,177
10,766
9,954
17,681
21,312
9,913
21,933
11,302

9,596
13,006
18,411
19,095
9,013
25,347
8,594
29,038
13,936
24,285
9,886
3,265
22,476
12,929
23,512
11,493
7,015
4,203		 Unrealised
Gain/(Loss)
£
2,010
75
1,118
852
113
3,968
513
2,655
1,446
504
2,242
(83)
1,541
153
777
305
2,582
(1,101)
774
407
207
1,626
4,047
3,249
2,531
(1,972)
(1,343)		 Income
inyear
£
3,350
67
430
464
935
861
503
780
404
490
511
863
855
397
1,452
492
1,644
809
2,141
531
185
1,161
668
844
473
475
429		 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
20,885.582
7,081.651
23,455.775
15,245.69
10,900
19,353.197
7,351
4,170
5,100
900
4,342
264
5,478		 5.00%
4.97%
4.35%
4.68%
6.23%
4.48%
4.75%
3.91%
4.05%
4.95%
3.43%
4.16%
4.30%
3.79%
4.84%
4.97%
5.49%
4.08%
10.76%
2.69%
3.62%
5.79%
3.41%
4.13%
2.36%
7.51%
3.84%
4.72%
132 472,988 29,196 22,214
45
85		 264,545
208,443		 14,183
15,013		 11,378.85
10,835.15

The shares in Kentstone Properties Ltd have been valued at the year end at the average price at which shares had changed hands during the company's accounting period ended 31 March 2023

CHRISTIAN SCIENCE SOCIETY, MAIDSTONE

Page 11

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER 2023 (Continued)

10. Statement of Cash Flows
Note
2023
£
Net cash generated/(used) in operating activities
11
(5,492)
Cash flows from investing activities:
Dividends and interest received
28,304
Purchase of fixed asset investments
(132)
Increase in term deposits (over 3 months to maturity)
(61,000)
Net cash provided by/(used in) investing activities
(32,828)
Changes in cash and cash equivalents in the year
(38,320)
Cash and cash equivalents at the beginning of the year
12
49,759
Cash and cash equivalents at the end of the year
12
11,439
11. Reconciliation of net movement in funds to net cash flow from operating activities
Net movement in funds
47,636
Adjustments for:
Depreciation
10,522
Dividends and interest received
(34,828)
Cost of investments disposed
-
Unrealised (gains)/losses
(29,196)
(Increase)/Decrease in stock
10
(Increase)/Decrease in debtors and prepayments
490
Increase/(Decrease) in creditors
(126)
Net cash generated/(used) in operating activities
(5,492)
12. Analysis of cash and cash equivalents
Term deposits (within 3 months to maturity)
-
Hargreaves Lansdown Cash Accounts repayable on demand
1,966
Cash at bank and in hand
9,473
11,439		 2022
£
2,577
29,429
(140)
(11,000)
18,289
20,866
28,893
49,759
(33,175)
10,537
(29,658)
4,999
49,220
(29)
(216)
899
2,577
31,199
10,177
8,383
49,759

13. Trustees remuneration

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

During the year to 30th September 2023 Mrs E Hutchison was paid £640 for cleaning services (2021/22 £340), Mr J S Penrose was paid a total of £930 for gardening services, cleaning and general repairs and maintenance (2021/22 £986) and Mrs C Penrose was paid £142 for temporary cleaning services (2021/22 £268).

Officers, including Trustees and Members are paid an honoraria to cover their expenses in performing their duties. The total amounts paid during the year for the duties shown were:

Clerk
Mrs C Penrose
Deputy readers:
Mrs J Harmer
Mrs E Hutchison
Mrs S Parker
Mrs C Penrose
Mr J Penrose
Librarian
Mrs C Penrose
Treasurer
Mrs C Penrose		 2023
£
325
240
126
60
362
180
225
225
1,743		 2022
£
280
196
74
70
292
145
195
195
1,447

CHRISTIAN SCIENCE SOCIETY, MAIDSTONE BUDGET FOR 2023/24

Page 12

Income from:
Donations & Collections
Income Tax Recoverable
Charitable activities
Room Hire
Sales of literature and books etc.
Investment income
Deposit 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
Lecture
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
£
£
2,500
625
2,500
6,000
12,000
11,000
11,000
1,800
200
300
24,625
23,300
500
10,522
1,000
1,000
2,200
1,200
3,000
4,000
250
400
540
1,750
700
200
400
250
250
100
3,000
360
13,360
18,262
11,265
5,038		 Charity
Fund
£
120
30
150
150
150
-		 Reading
Room
Fund
£
1,000
1,000
1,100
50
(300)
850
150		 Total
£
2,620
655
2,500
1,000
18,000
22,000
1,800
500
49,075
500
1,100
10,522
1,000
1,000
2,200
1,200
3,000
4,000
250
940
1,750
700
250
400
250
250
100
2,850
360
32,622
16,453