| Page | ||
|---|---|---|
| Trustees' annual report |
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| Independent examiner's report to the trustees |
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| Statement offinancial | activities | |
| Statement offinancial | position | |
| Notes to the financial | statements |
| Reference | and administrative | and administrative | and administrative | details | ||||
|---|---|---|---|---|---|---|---|---|
| Registered | charity | name | Church of England | Clergy Stipend | Trust | |||
| Charity registration | number | 287022 | ||||||
| Principal office | 271 South Lambeth | Road | ||||||
| London | ||||||||
| SW8 1UH | ||||||||
| The trustees | MrJW Parkinson | (Retired 24 September 2021) | ||||||
| MrJC G Trower | ||||||||
| The Ven LJ Miller | ||||||||
| The Revd D N C | Houlding | |||||||
| Mr R Hofroyd | ||||||||
| Mr N P G Salisbury | (Appointed 9November 2021) | |||||||
| Company | secretary | Mrs D Madden | ||||||
| Independent | examiner | Mrs Janet Roach | ACA | |||||
| SKSBailey Group | Limited | |||||||
| Units 10-12County | End Business | Centre | ||||||
| Jackson Street | ||||||||
| Springhead | ||||||||
| Oldham | ||||||||
| OL4 4TZ | ||||||||
| Investment | managers | Rathbone Investment |
Management | Limited | ||||
| Port of Liverpool | Building | |||||||
| Pier Head | ||||||||
| Liverpool | ||||||||
| L3 1NW | ||||||||
| CBFChurch of England | ||||||||
| Senator House | ||||||||
| 85Queen Victoria | Street | |||||||
| London | ||||||||
| EC4V 4ET | ||||||||
| Solicitors | Trowers &Hamlins | LLP | ||||||
| 3 Bunhill Row | ||||||||
| London | ||||||||
| EC1Y8YZ | ||||||||
| Bankers | HSBC Bank pic | |||||||
| 2-4 StAnn's Square | ||||||||
| Manchester | ||||||||
| M2 7HD |
| 2022 | 2022 | 2021 | ||||||
|---|---|---|---|---|---|---|---|---|
| Unrestricted | ||||||||
| funds | Totalfunds | Total funds | ||||||
| Note | 6 | E | E | |||||
| Income and | endowments | |||||||
| Investment | income | 4 | 78,456 | 78,456 | 71,314 | |||
| Total income | 7S,456 | TS,4S6 | 71,314 | |||||
| Expenditure | ||||||||
| Expenditure | on raising funds: | |||||||
| Investment management |
costs | 5 | 18,991 | 18,991 | 16,577 | |||
| Expenditure | on charitable | activities | 6,7 | 129,817 | 129,817 | 119,491 | ||
| Total expenditure | 148,808 | 148,808 | 136,068 | |||||
| Net gains on investments | 10 | 214,504 | 214,504 | 659,621 | ||||
| Net income | and net movement | in funds | 144,152 | 144,152 | 594,867 | |||
| Reconciliation offunds |
||||||||
| Total funds | brought forward |
3,502,692 | 3,502,692 | 2,907,825 | ||||
| Total funds | carried forward | 3,646,844 | 3,646,844 | 3,502,692 |
| 2022 | 2021 | |||||
|---|---|---|---|---|---|---|
| Note | ||||||
| Fixed assets | ||||||
| Investments | 13 | 3,588,774 | 3,477,328 | |||
| Current assets | ||||||
| Cash at bank | and in | hand | 66,570 | 32,070 | ||
| Creditors: amounts | falling due within one year | 14 | 8,500 | 6,706 | ||
| Net current | assets | 58,070 | 25,354 | |||
| Total assets | less current liabilities | 3,646,844 | 3,502,692 | |||
| Net assets | 3,646,844 | 3,502,692 | ||||
| Funds ofthe charity | ||||||
| Unrestricted | funds | 3,646,844 | 3,502,692 | |||
| Total charity | funds | 3,846,844 | 3,502,692 |
| nvestment income |
||||||
|---|---|---|---|---|---|---|
| Unrestricted | Total Funds | Unrestricted | Total Funds | |||
| Funds 6 |
2022 6 |
Funds f |
2021 f |
|||
| Income from UK equities and | UK fixed | |||||
| interest securities | 30,624 | 30,624 | 23,658 | 23,658 | ||
| Income from UK investment | trusts | 4,163 | 4,163 | 4,173 | 4,173 | |
| Income from overseas | investments | 8,419 | 6,419 | 9,786 | 9,786 | |
| Income from collectives | 35,180 | 35,180 | 33,590 | 33,590 | ||
| Bank deposit interest receivable | 70 | 70 | 107 | 107 | ||
| 78,456 | 78,456 | 71,314 | 71,314 |
| Unrestricted | Total | Funds | Unresbicted | Total | Funds | ||
|---|---|---|---|---|---|---|---|
| Funds | 2022 | Funds | 2021 f |
||||
| Portfolio | management | 18,991 | 18,991 | 16,577 | 16,577 |
| 6. | Expenditure | on charitable | on charitable | activities | by fund type | |||
|---|---|---|---|---|---|---|---|---|
| Unrestricted | Total Funds | Unrestricted | Total Funds | |||||
| Funds f |
2022 6 |
Funds | 2021 F. |
|||||
| Grant funding | activities | 125,000 | 125,000 | 115,800 | 115,800 | |||
| Support costs | 4,817 | 4,817 | 3,691 | 3,691 | ||||
| 129,817 | 129,817 | 119,491 | 119,491 | |||||
| 7. | Expenditure | on charitable | activities | by activity type | ||||
| Grant funding | Support | Total funds | Total fund | |||||
| ofactivities f |
costs F |
2022 f |
2021 f |
|||||
| Grant funding | activities | 125,000 | 1,337 | 126,337 | 117,091 | |||
| Governance | costs | 3,480 | 3,480 | 2,400 | ||||
| 125,000 | 4,817 | 129,817 | 119,491 | |||||
| 8. | Analysis ofsupport costs | |||||||
| Secretarial | ||||||||
| services f |
Total 2022 f |
Total 2021 f |
||||||
| Secretarial services | 1,277 | 1,277 | 1,200 | |||||
| Bank charges | 60 | 60 | 91 | |||||
| 1,337 | 1,337 | 1,291 | ||||||
| 9. | Analysis ofgrants | |||||||
| 2022 f |
2021 | |||||||
| Grants to institutions | ||||||||
| Grants to Diocesan Boards | ofFinance | 125,000 | 115,800 | |||||
| Total grants | 125,000 | 115,800 | ||||||
| 10. | Net gains on | Investments | ||||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | |||||
| Funds f |
2022 f |
Funds F |
2021 | |||||
| Gains/(losses) | on other investment | |||||||
| assets | 214,504 | 214,504 | 659,621 | 659,621 |
| Listed | ||
|---|---|---|
| Investments | ||
| 6 | ||
| Cost orvaluation | ||
| At 1 April | 2021 | 3,477,328 |
| Additions | 618,706 | |
| Disposals | (721,?65) | |
| Fair value | movements | 214,505 |
| At 31March 2022 | 3,588,774 | |
| Impairment | ||
| At 1 April | 2021 and 31March 2022 | |
| Carrying | amount | |
| At 31 liilarch 2022 | 3,588,?74 | |
| At 31 March 2021 | 3,477,328 |
| At | Gains and | At 31 March | |||||
|---|---|---|---|---|---|---|---|
| 1 | April 2021 | Income | Expenditure | losses | 2022 | ||
| 'Z | 6 | 6 | |||||
| General | funds | 3,502,692 | 78,456 | (148,808) | 214,504 | 3,646,844 | |
| At | Gains and | At 31 March | |||||
| 1 | April 2020 | Income | Expenditure | losses | 2021 | ||
| 6 | r | 6 | F | ||||
| General | funds | 2,907,825 | 71,314 | (136,068) | 659,621 | 3,502,692 |
| Analysis ofnet as | sets between funds | ||
|---|---|---|---|
| Unrestricted | Total Funds | ||
| Funds f |
2022 | ||
| Tangible fixed assets | 3,588,774 | 3,588,774 | |
| Current assets | 66,570 | 66,570 | |
| Creditors less than | 1 year | (8,500) | (8,500) |
| Net assets | 3,646,844 | 3,646,844 | |
| Unrestricted | Total Funds | ||
| Funds | 2021 | ||
| 6 | 6 | ||
| Tangible fixed assets | 3,477,328 | 3,477,328 | |
| Current assets | 32,070 | 32.070 | |
| Creditors less than | 1 year | (6,706) | (6,706) |
| Net assets | 3,502,692 | 3,502,692 |
| Grants ma tipends |
de t | o the following Dioces |
an Boards ofFinance | for augmentation |
|---|---|---|---|---|
| Yearended | ||||
| 31 March 2022 | Total to date | |||
| Bath and Wells | 3,700 | |||
| Birmingham | 17,000 | 322,000 | ||
| Blackburn | 144,400 | |||
| Bradford | 169,400 | |||
| Bristol | 14,250 | |||
| Canterbury | 7,000 | 46,050 | ||
| Carlisle | 64,100 | |||
| Chelm sford | 9,000 | 152,450 | ||
| Chester | 10,650 | |||
| Derby | 64,700 | |||
| Durham | 12,000 | 382,300 | ||
| Ely | 1,800 | |||
| Exeter | 47,150 | |||
| Gloucester | 5,100 | |||
| Hereford | 7,000 | |||
| Leeds | 15,000 | 161,100 | ||
| Leicester | 70,900 | |||
| Lichfield | 5,000 | 244„550 | ||
| Lincoln | 7,000 | 40,900 | ||
| Liverpool | 6,000 | 352,450 | ||
| London | 8,400 | |||
| Manchester | 316,275 | |||
| Newcastle | 8,000 | 252,800 | ||
| Norwich | 8,000 | 68,850 | ||
| Oxford | 5,650 | |||
| Peterborough | 4,450 | |||
| Portsmouth | 6,000 | |||
| Representative | body ofthe Church | 5,650 | ||
| in Wales | ||||
| Rochester | 2,800 | |||
| Salisbury | 9,400 | |||
| Sheffield | 13,000 | 275,800 | ||
| Sodor and | Man | 2,400 | ||
| Southwark | 2,500 | |||
| Southwell | and | Nottingham | 8,000 | 168,900 |
| StAlbans | 6,850 | |||
| St Edmundsbu | ry and ipswich | 11,700 | ||
| Truro | 59,350 | |||
| Wakefield | 192,000 | |||
| Winchester Worcester |
2,850 ¹,150 |
|||
| York | 10,000 | 324.300 | ||
| Miscellaneous | grants | 8,497 | ||
| 125,000 | 4,044,522 |