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|---|---|---|---|
|Trustees'|annual
report|||
|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|||||||
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|||||||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|
##
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||||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|
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|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|
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|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|
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|||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|
##
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|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|
##
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##
|||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||