| Page | |||
|---|---|---|---|
| Reference and Administrative Details ofthe Charity, its Trustees |
and Advisers | ||
| Trustees' Report |
2-5 | ||
| Independent Examiner's |
Report | ||
| Statement ofFinancial | Activities | ||
| Balance Sheet | |||
| Notes to the Financial Statements | 9-17 |
| REFERENCE AND | REFERENCE AND | REFERENCE AND | ADMINISTRATIVE | DETAILS OF THE | DETAILS OF THE | CHARITY, | CHARITY, | ITSTRUSTEES AND ADVISERS |
|---|---|---|---|---|---|---|---|---|
| FOR THE YEAR ENDED 31 DECEMBER 2022 | ||||||||
| Trustees | Mr Gareth Phillips, |
PCC Nominee & Chairman |
||||||
| Dr Mark Deller, | PCC Nominee | |||||||
| The Revd Ravi Holy, Vicar | ||||||||
| Mr David Ross, | Church Warden | |||||||
| Mr Robert Dudley, | Church Warden | (appointed | 25 May 2022) | |||||
| Charity registered | ||||||||
| number | 262613 | |||||||
| Principal office | Cumberland Court |
|||||||
| Church Street | ||||||||
| Wye | ||||||||
| Kent | ||||||||
| TN25 5BJ | ||||||||
| Independent | Examiner | Magee Gammon | Corporate Limited |
|||||
| Chartered Accountants |
||||||||
| Henwood House |
||||||||
| Henwood | ||||||||
| Ashford | ||||||||
| Kent | ||||||||
| TN24 8DH | ||||||||
| Bankers | Lloyds Bank pic | |||||||
| 81 High Street | ||||||||
| Ashford | ||||||||
| Kent | ||||||||
| TN24 8SS | ||||||||
| Solicitors | Hallett &Co |
|||||||
| 11 Bank Street | ||||||||
| Ashford | ||||||||
| Kent | ||||||||
| TN23 1DA | ||||||||
| Treasurer | and clerk to | Mr Francis Huntington | ||||||
| the trustees | ||||||||
| Honorary | advisors | Mr James Loudon | ||||||
| Mr David Collingwood (retired 9 November |
2022) | |||||||
| Investment | advisors | Central Board ofFinance ofthe Church of | England | |||||
| 80 Cheapside | ||||||||
| London | ||||||||
| EC2V 6DZ |
| The Revd | Ravi Holy | (Vicar) | from | 14January 2010 | |
|---|---|---|---|---|---|
| Mr Gareth | Phillips | (PCC Nominee | 8 Chairman) | from | 7 November 2012 |
| Dr Mark Deller | (PCC Nominee) | from | 15July 2013 | ||
| Mr David | Ross | (Church Warden) | from | 1 April 2020 |
| FOR | THE YEA | R ENDED 31 DE | CEMBER 2022 | ||||
|---|---|---|---|---|---|---|---|
| Unrestricted | Endowment | Total | Total | ||||
| funds | funds | funds | funds | ||||
| 2022 | 2022 | 2022 | 2021 | ||||
| Note | F | E | E | ||||
| Income and endowments | from: | ||||||
| Donations and legacies |
5,000 | ||||||
| Investments | 36,531 | 36,531 | 35,387 | ||||
| Total income and | endowments | 36,531 | 36,531 | 40,387 | |||
| Expenditure on: |
|||||||
| Charitable activities |
40,990 | 40,990 | 48,624 | ||||
| Total expenditure | 40,990 | 40,990 | 48,624 | ||||
| Net expenditure before net |
|||||||
| (losses)/gains on |
investments | (4,459) | (4,459) | ('8,237) | |||
| Net (losses)/gains | on investments | (122,855) | (122,855) | 129,014 | |||
| Net movement in |
funds | (4,459) | (122,855) | (127,314) | 120,777 | ||
| Reconciliation of |
funds: | ||||||
| Total funds brought | forward | 37,132 | 1,012,654 | 1,049,786 | 929,009 | ||
| Net movement in funds |
(4,459) | (122,855) | (127,314) | 120,777 | |||
| Total funds carried forward | 32,673 | 889,799 | 922,472 | 1,049,786 |
| BALANCE SHEET | BALANCE SHEET | ||||||
|---|---|---|---|---|---|---|---|
| AS AT 31 DECEMBER 2022 | |||||||
| Note | 2022f | 2021f | |||||
| Fixed assets | |||||||
| Investments | 889,799 | 1,012,654 | |||||
| Current assets | |||||||
| Debtors | 10 | 9,169 | 8,959 | ||||
| Cash at bank | and | in hand | 24,629 | 29,266 | |||
| 33,798 | 38,225 | ||||||
| Creditors: amounts | falling due within one | ||||||
| year | (1,125) | (1,093) | |||||
| Net current | assets | 32,673 | 37,132 | ||||
| Total net assets | 922,472 | 1,049,786 | |||||
| Charity funds | |||||||
| Endowment | funds | 13 | 889,799 | 1,012,654 | |||
| Unrestricted | funds | 13 | 32,673 | 37,132 | |||
| Total funds | 922,472 | 1,049,786 |
| FOR THE YE | AR ENDED 31 | DECEMBER 2022 | ||||||
|---|---|---|---|---|---|---|---|---|
| 3. | Income from donations | and legacies | ||||||
| Unrestricted | Total | Total | ||||||
| funds | funds | funds | ||||||
| 2022 | 2022 | 2021 | ||||||
| F | F | E | ||||||
| Legacies | 5,000 | |||||||
| Total 2021 | 5,000 | 5,000 | ||||||
| 4. | Investment | income | ||||||
| Unrestricted | Total | Total | ||||||
| funds | funds | funds | ||||||
| 2022 | 2022 | 2021 | ||||||
| F | ||||||||
| Cash on Deposit | 247 | 247 | 19 | |||||
| CDBF/Luxmoore | Trust | 9,314 | 9,314 | 9,107 | ||||
| Global Equity Fund | 3,957 | 3,957 | 3,878 | |||||
| Property Fund |
1,407 | 1,407 | 1,407 | |||||
| Investment | Fund | 21,606 | 21,606 | 20,976 | ||||
| Total 2022 | 36,531 | 36,531 | 35,387 | |||||
| Total 2021 | 35,387 | 35,387 | ||||||
| 5. | Analysis ofexpenditure | on charitable | activities | |||||
| Summary | by fund type | |||||||
| Un- | ||||||||
| restricted | ||||||||
| funds | Total | Total | ||||||
| 2022 | 2022 | 2021 | ||||||
| F | F | |||||||
| Direct costs | 40,990 | 40,990 | 48,624 | |||||
| Total 2021 | 48,624 | 48,624 |
| Activities | |||||||
|---|---|---|---|---|---|---|---|
| undertaken | Support | Total | Total | ||||
| directly | costs | funds | funds | ||||
| 2022f | 2022 F |
2022 E |
2021 | ||||
| Direct costs | 38,366 | 2,624 | 40,990 | 48,624 | |||
| Total 2021 | 46,032 | 2,592 | 48,624 | ||||
| Analysis ofdirect costs | |||||||
| Total | Total | ||||||
| Activities | funds | funds | |||||
| 2022 | 2022 | 2021 | |||||
| f. | f. | E | |||||
| Church insurance |
6,337 | 6,337 | 6,019 | ||||
| Various fabric | repairs | 11,833 | 11,833 | 4,682 | |||
| Sundry expenses | 196 | 196 | 331 | ||||
| Covid support | 5,000 | ||||||
| Organ fund grant | 20,000 | 20,000 | 30,000 | ||||
| Total 2022 | 38,366 | 38,366 | 46,032 | ||||
| Total 2021 | 46,032 | 46,032 | |||||
| Analysis ofsupport |
costs | ||||||
| Total | Total | ||||||
| Activities | funds | funds | |||||
| 2022 E |
2022 f, |
2021f | |||||
| Clerk to the trustees | honoraria | 1,500 | 1,500 | 1,500 | |||
| Independent | examiner's | fees | 1,124 | 1,124 | 1,092 | ||
| Total 2022 | 2,624 | 2,624 | 2,592 | ||||
| Total 2021 | 2,592 | 2,592 |
| 2022f | 2021 E |
|||||
|---|---|---|---|---|---|---|
| Fees payable | to the Charity's | independent | examiner | for the independent | ||
| examination | ofthe Charity's | annual accounts | 1,124 | 1,092 |
| 8. | Trustees' remuneration and expenses |
Trustees' remuneration and expenses |
Trustees' remuneration and expenses |
|||||
|---|---|---|---|---|---|---|---|---|
| During the year, no Trustees received any remuneration | or other | benefits (2021 - EN/L). | ||||||
| During the year ended 31 December 2022, no | Trustee | expenses | have been incurred | (2021 | - EN/L). | |||
| 9. | Fixed asset investments | |||||||
| Other fixed | ||||||||
| asset | ||||||||
| investments | ||||||||
| F | ||||||||
| Cost or valuation | ||||||||
| At 1 January 2022 | 1,012,654 | |||||||
| Revaluations | (122,855) | |||||||
| At 31 December | 2022 | 889,799 | ||||||
| Net book value | ||||||||
| At 31 December | 2022 | 889,799 | ||||||
| At 31December | 2021 | 1,012,654 | ||||||
| The market value | of investments | is represented | by: | |||||
| The CBFChurch | of England | |||||||
| 2022 | 202'/ | |||||||
| F | E | |||||||
| Property Fund - income shares |
28,218 | 3/,969 | ||||||
| Investment Fund |
—income shares | 722,447 | 818,838 | |||||
| Global Equity Income Fund - income shares | 139,134 | 161,847 | ||||||
| 889,799 | 1,012,654 |
| 2022 | 2021 | ||||||
|---|---|---|---|---|---|---|---|
| F | |||||||
| Prepayments and accrued |
income | 9,169 | 8,959 | ||||
| 11. | Creditors: Amounts | falling due within one year | |||||
| 2022 | 2021 | ||||||
| E | E | ||||||
| Accruals | and deferred | income | 1,125 | 1,093 | |||
| 12. | Financial | instruments | |||||
| 2022 | 2021 | ||||||
| E | |||||||
| Financial | assets | ||||||
| Financial | assets measured | at fair value through | income and expenditure | 24,629 | 29,266 |
| Balance at | ||||||
|---|---|---|---|---|---|---|
| Balance at 1 | 31 | |||||
| January | Gains/ | December | ||||
| 2022 | Income | Expenditure | (Losses) | 2022 | ||
| F | F | F | ||||
| Unrestricted | funds | |||||
| General funds | 37,132 | 36,531 | (40,990) | 32,673 | ||
| Endowment | funds | |||||
| Capital fund | 1,012,654 | (122,855) | 889,799 | |||
| Total offunds | 1,049,786 | 36,531 | (40,990) | (122,855) | 922,472 | |
| Statement offunds - prior year | ||||||
| Balance at | ||||||
| Balance at | 31 | |||||
| 1January | Gains/ | December | ||||
| 2021 E |
Income | Expendituref | (Losses) | 2021 | ||
| Unrestricted | funds | |||||
| General funds | 45,369 | 40,387 | (48,624) | 37,132 | ||
| Endowment | funds | |||||
| Capital fund | 883,640 | 129,014 | 1,012,654 | |||
| Total offunds | 929,009 | 40,387 | (48,624) | 129,014 | 1,049,786 |
| Summary |
offunds - cur | rent year | ||||
|---|---|---|---|---|---|---|
| Balance at | ||||||
| Balance at 1 | 31 | |||||
| January | Gains/ | December | ||||
| 2022 | Income | Expenditure | (Losses) | 2022 | ||
| F | E | E | E | F | ||
| General funds | 37,132 | 36,531 | (40,990) | 32,673 | ||
| Endowment | funds | 1,012,654 | (122,855) | 889,799 | ||
| 1,049,786 | 36,531 | (40,990) | (122,855) | 922,472 |
| Summary |
offunds - prior | year | ||||
|---|---|---|---|---|---|---|
| Balance at | ||||||
| Balance at | 31 | |||||
| 1January | Gains' | December | ||||
| 2021 | Income E |
Expenditure | (Losses) | 2021f | ||
| General funds | 45,369 | 40,387 | (48,624) | 37,132 | ||
| Endowment | funds | 883,640 | 129,014 | 1,012,654 | ||
| 929,009 | 40,387 | (48,624) | 129,014 | 1,049,786 |
| Analysis of net assets between funds - cur | rent year | ||
|---|---|---|---|
| Unrestricted | Endowment | Total | |
| funds | funds | funds | |
| 2022 | 2022 | 2022 | |
| F | F | ||
| Fixed asset investments | 889,799 | 889,799 | |
| Current assets | 33,798 | 33,798 | |
| Creditors due within one year | (1,125) | (1,125) | |
| Total | 32,673 | 889,799 | 922,472 |
| Unrestricted | Endowment | Total | |
|---|---|---|---|
| funds | funds | funds | |
| 2021 | 2021 | 2021 | |
| Fixed asset investments | 1,012,654 | 1,012,654 | |
| Current assets | 38,225 | 38,225 | |
| Creditors due within one year | (1,093) | (1,093) | |
| Total | 37,132 | 1,012,654 | 1,049,786 |