| Page | |||
|---|---|---|---|
| Trustees' | annual report |
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| independent examiner's report to the trUstees |
|||
| Statement | of financial | activities | |
| Statement | offinancial | position | |
| Notes to | the financial | statements |
| The trustees present their report and the unaudited ended 31 March 2023. |
The trustees present their report and the unaudited ended 31 March 2023. |
The trustees present their report and the unaudited ended 31 March 2023. |
The trustees present their report and the unaudited ended 31 March 2023. |
The trustees present their report and the unaudited ended 31 March 2023. |
financial | statements | statements | of the Charity | for the year | |
|---|---|---|---|---|---|---|---|---|---|---|
| Reference | and administrative | details | ||||||||
| Registered | charity name | Church of England | Clergy Stipend | Trust | ||||||
| Charity registration | number | 287022 | ||||||||
| Principal oNce | 271 South Lambeth | Road | ||||||||
| London | ||||||||||
| SW8 1UH | ||||||||||
| The trustees | JCG Trower | |||||||||
| The Ven. LJ Miller | ||||||||||
| The Rev. DNC Houlding | ||||||||||
| R Holroyd | ||||||||||
| NPG Salisbury | ||||||||||
| Company | secretary | D Madden | ||||||||
| Independent | examiner | Mrs Janet Roach ACA | ||||||||
| SKSBailey Group Limited | ||||||||||
| 2 Heap Bridge, Bury | ||||||||||
| BL97HR | ||||||||||
| Investment | managers | Rathbone Investment |
Management | Limited | ||||||
| Port of Liverpool Building |
||||||||||
| Pier Head | ||||||||||
| Liverpool | ||||||||||
| L3 1NW | ||||||||||
| CBFChurch ofEngland | ||||||||||
| Senator House | ||||||||||
| 85Queen Victoria Street | ||||||||||
| London | ||||||||||
| EC4V 4ET | ||||||||||
| Solicitors | Trowers 8 Hamlins | LLP | ||||||||
| 3 Bunhill Row | ||||||||||
| London | ||||||||||
| EC1Y8YZ | ||||||||||
| Bankers | HSBC Bank pic | |||||||||
| 2-4 StAnn's Square | ||||||||||
| Manchester | ||||||||||
| M2 7HD |
| 2023 | 2023 | 2022 | ||||||
|---|---|---|---|---|---|---|---|---|
| Unrestricted | ||||||||
| funds | Total funds | Total funds | ||||||
| Note | ||||||||
| income and endowments | ||||||||
| Investment | income | 4 | 91,895 | 91,895 | 78,456 | |||
| Total income | 91,895 | 91,895 | 78,456 | |||||
| Expenditure | ||||||||
| Expenditure | on raising funds: | |||||||
| Investment management |
costs | 5 | 15,169 | 15,169 | 18,991 | |||
| Expenditure | on charitable | activities | 6,7 | 145,757 | 145,757 | 129,817 | ||
| Total expenditure | 160,927 | 160,927 | 148,808 | |||||
| Net gains/ (loss) on investments | 10 | {274,715) | (274,715) | 214,504 | ||||
| Net income | and net movement | in funds | (343,747) | (343,747) | 144,152 | |||
| Reconciliation offunds |
||||||||
| Total funds | brought forward |
3,646,844 | 3,646,844 | 3,502,692 | ||||
| Total funds | carried forward | 3,303,097 | 3,303,097 | 3,646,844 |
| 2023 | 2022 | ||||
|---|---|---|---|---|---|
| Fixed assets | |||||
| Investments | 13 | 3,255,795 | 3,588,774 | ||
| Current assets | |||||
| Cash at bank and in | hand | 54,933 | 66,570 | ||
| Creditors: amounts | falling due within one year | 14 | 7,632 | 8,500 | |
| Net current assets | 47,302 | 58,070 | |||
| Total assets less current liabilities | 3,303,097 | 3,646,844 | |||
| Net assets | 3,303,097 | 3.646,644 | |||
| Funds ofthe charity | |||||
| Unrestricted funds |
3,303,097 | 3,646,844 | |||
| Total charity funds | 15 | 3,303,097 | 3,646,844 |
| Investment income |
|||||
|---|---|---|---|---|---|
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2023 | Funds | 2022 | ||
| E | f | E | |||
| Income from UK equities and UK fixed | |||||
| interest securities | 34,645 | 34,645 | 30,624 | 30,624 | |
| Income from UK investment | trusts | 3,777 | 3,777 | 4,163 | 4,163 |
| Income from overseas investments | 16,549 | 16,549 | 8,419 | 8,419 | |
| Income from collectives | 35,726 | 35,726 | 35,180 | 35,180 | |
| Sank deposit interest receivable | 1,198 | 1,198 | 70 | 70 | |
| 91,895 | 91,895 | 78,456 | 78,456 |
| Unrestricted | Total | Funds | Unrestricted | Total | Funds | ||
|---|---|---|---|---|---|---|---|
| Funds E |
2023 f |
Funds f |
2022 f |
||||
| Portfolio | management | 15,169 | 15,169 | 18,991 | 18,991 |
| Expenditure |
on charitable acti |
vities by fund type |
|||
|---|---|---|---|---|---|
| Unrestricted | TotalFunds | Unrestricted | Total Funds | ||
| Funds | 2023 | Funds | 2022 | ||
| f | f | ||||
| Grant funding | activities | 139,000 | 139,000 | 125,000 | 125,000 |
| Support costs | 6,757 | 6,757 | 4,817 | 4,817 | |
| 145,?57 | 145,757 | 129,817 | 129,817 |
| 7. | Expenditure | on charitable activities |
by activity type | |||
|---|---|---|---|---|---|---|
| Grant funding | Total funds | Total fund | ||||
| ofactivities f |
Support costs | 2023 | 2022 f |
|||
| Grant funding | activities | 139,000 | 2,959 | 141,959 | 126,337 | |
| Governance costs | 3,798 | 3,798 | 3,480 | |||
| 139,000 | 6,757 | 145,757 | 129,817 | |||
| 8. | Analysis ofsupport costs | |||||
| Secretarial | ||||||
| services f |
Total 2023 | Total 2022 f |
||||
| Secretarial services | 2,800 | 2,800 | 1,200 | |||
| Bank charges | 66 | 66 | 60 | |||
| Office cost | 93 | 93 | 77 | |||
| 2,959 | 2,959 | 1,337 | ||||
| 9. | Analysis ofgrants | |||||
| 2023 | 2022 | |||||
| f | ||||||
| Grants to institutions | ||||||
| Grants to Diocesan Boards ofFinance | 139,000 | 125,000 | ||||
| Total grants | 139,000 | 125,000 | ||||
| 10. | Net gains on | investments | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | |||
| Funds f |
2023 | Funds f |
2022 | |||
| Gains/(losses) | on other investment | |||||
| assets | (274,715) | (274,715) | 214,504 | 214,504 |
| Listed | ||
|---|---|---|
| 'rn vestments | ||
| F | ||
| Cost or valuation | ||
| At 1 April | 2022 | 3,588,774 |
| Additions | 952,589 | |
| Disposals | (1,010,852) | |
| Fair value | movements | (274,715) |
| At 31 March 2023 | 3,255,795 | |
| impairment | ||
| At 1 April | 2022 and 31 March 2023 | |
| Carrying | amount | |
| At 31 March 2023 | 3,255,795 | |
| At 31 March 2022 | 3,588,774 |
| 2023 | 2022 | ||||
|---|---|---|---|---|---|
| F | |||||
| Accruals | and | deferred | income | 7,632 | 8,500 |
| Analysis ofc | haritable | funds | ||||
|---|---|---|---|---|---|---|
| Unrestricted | funds | |||||
| At | Gains and | At 31 INarch | ||||
| 1 April 2022 | Income | Expenditure | losses | 2023 | ||
| F | F | F | ||||
| General funds | 3,646,844 | 91,895 | (160,927) | (274,715) | 3,303,097 | |
| At | Gains and | At 31 March | ||||
| 1 April 2021 | Income | Expenditure | losses | 2022 | ||
| E | E | F | F | |||
| General funds | 3,502,692 | 78,456 | (148,808) | 214,504 | 3,646,844 |
| Tangible fixed assets | Tangible fixed assets |
|---|---|
| Current assets | |
| Creditors less than | 1 year |
| Net assets | |
| Tangible fixed assets | |
| Current assets | |
| Creditors less than | 1 year |
| Net assets |
| Unrestricted | Total Funds |
|---|---|
| Funds | 2023 |
| F | f |
| 3,255,795 | 3,255,795 |
| 54,933 | 54,933 |
| (7,632) | (7,632) |
| 3,303,097 | 3,303,097 |
| Unrestricted | Total Funds |
| Funds | 2022 |
| K | |
| 3,588,774 | 3,588,774 |
| 66,570 | 66,570 |
| (8,500) | (8,500) |
| 3,646,844 | 3,646,844 |
| Year e | Year e | nded | 3l March | 2023 | |||
|---|---|---|---|---|---|---|---|
| 17. Grants |
made out ofincome | ||||||
| Grants made to the following | Diocesan | Boards ofFinance | for augmentation | ofetipends | |||
| Year ended | |||||||
| 31tlarch | 2023 | Total to date | |||||
| Bath and Wells | 3,700 | ||||||
| Birmingham | 17,000 | 339,000 | |||||
| Blackburn | 6,000 | 150,400 | |||||
| Bradford | 169,400 | ||||||
| Bristol | 14,250 | ||||||
| Canterbury | 5,000 | 51,050 | |||||
| Cariisle | 64,100 | ||||||
| Chelmsford | 9,000 | 161,450 | |||||
| Chester | 10,650 | ||||||
| Derby | 64,700 | ||||||
| Durham | 12,000 | 394,300 | |||||
| Ely | 1,800 | ||||||
| Exeter | 47,150 | ||||||
| Gloucester | 5,100 | ||||||
| Hereford | 7,000 | ||||||
| Leeds | 15,000 | 176,100 | |||||
| Leicester | 70,900 | ||||||
| Lichfield | 5,000 | 249,550 | |||||
| Lincoln | 7,000 | 4?,900 | |||||
| Liverpool | 6,000 | 358,450 | |||||
| London | 8,400 | ||||||
| Manchester | 10,000 | 326,275 | |||||
| Newcastle | 8,000 | 260,800 | |||||
| Norwich | 8,000 | 76,850 | |||||
| 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 | 288,800 | |||||
| Sodor and | Man | 2,400 | |||||
| Southwark | 2,500 | ||||||
| Southwell | and | Nottingham | 8,000 | 176,900 | |||
| StAlbans | 6,850 | ||||||
| St Edmundsbury | and Ipswich | 11,700 | |||||
| Truro | 59,350 | ||||||
| Wakefield | 192,000 | ||||||
| Winchester | 2,850 | ||||||
| Worcester | 4,150 | ||||||
| York | 10,000 | 334,300 | |||||
| Miscellaneous | grants | 8,497 | |||||
| 139,000 | 4,183,522 |