| Page | |
|---|---|
| Trustees' annualreport | 1 |
| lndependentexamine/sreporttothetrustees | 5 |
| Statementoffinancial activities | 6 |
| Statementoffinancialposition | 7 |
| Notes tothe financial statements | 8 |
| Reference andadministrative d | etails |
|---|---|
| Registeredcharityname | Church of England Clergy Stipend Trust |
| Charityregistrationnumber | 287022 |
| Principaloffice | 271 South LambethRoad |
| London | |
| SW81UH | |
| Thetrustees | JCG Trower |
| TheVen.LJMiller | |
| The Rev. DNCHoulding | |
| RHolroyd | |
| NPGSalisbury | |
| Company secretary | D Madden |
| lndependent examiner | MrsJanetRoachACA |
| Thompson Jones Business SolutionsLimited | |
| 2Heap Bridge, Bury Lancashire | |
| BLg 7HR | |
| lnvestment managers | Rathbone lnvestment ManagementLimited |
| Portof LiverpoolBuilding | |
| PierHead | |
| Liverpool | |
| L3 1NW | |
| CBF Church ofEngland | |
| SenatorHouse | |
| 85Queen Victoria Street | |
| London | |
| EC4V4ET | |
| Solicitors | Trowers&HamlinsLLP |
| 3 BunhillRow | |
| London | |
| EC1Y8YZ | |
| Bankers | HSBCBank plc |
| 2-4StAnn's Square | |
| Manchester | |
| M27HD |
| 2024 | 2423 | |||
|---|---|---|---|---|
| Unrestricted | Total | Total | ||
| funds | funds | funds | ||
| Note | € | € | € | |
| lncorne andendowments | ||||
| lnvestmentincone | 4 | 87,1',t1 | 97,11'l |
91,895 |
| Totalincome | 87,'111 | 87,111 |
91,895 | |
| Expenditure | ||||
| Erpenditureonraisingfunds: | ||||
| Investnent managenent costs | 5 | 1s,853 | 15,853 | 15,'t69 |
| Ependitureoncharitiableactivities | 6,7 | 126,28 | 126,2* | 145,757 |
| Totalexpenditure | 142,111 | 142,111 | 1@,927 | |
| .letgains/ (loss) on investnents | 10 | 328,057 | 328,057 | |
| Net income andnetrnovementinfunds | 273,057 | 273,05i1 | (343,7481 | |
| Reconcilhtionoffunds | ||||
| Totalfunds brought forward | 3,303,0973,303,097 | 3,646,844 | ||
| Totalfunds carried forward | 3,576,1543,576,154 | 3,303,096 |
| Unresficted | Total Funds | Unresficted | Total Funds | |
|---|---|---|---|---|
| Funds | 20,24 | Funds | 2023 | |
| t | c | t | t | |
| lnconefromUKequitiesaMUKfi:ed interestsecurities |
28,516 | 28,516 | u,u5 | u,ils |
| IncomefromUKinrestnent busts | 2,600 | 2,6(X) | 3,777 | 3,777 |
| lnconefrom orerseasinwstnenb | 21,555 | 21,555 | 16,549 | 16,549 |
| lncornefrom collectircs | 33,817 | 33,817 | 35,726 | 35,726 |
| Bankdepositinterestreceiwble | 623 | 623 | 1,'t98 | 1,198 |
| 87,111 | 8i1,111 | 91,895 | 91,895 |
| Unrestricted | Total Funds | Unrestricted | Total Funds | |
|---|---|---|---|---|
| Funds | 2024 | Funds | 2023 | |
| e | € | t | € | |
| Portfolionanagenent | 15,853 | 15,953 | 15,169 | 15,169 |
| 6.Expenditure oncharitable activities | byfund type | |||
|---|---|---|---|---|
| thresticted | TotalFunds | Lhresficted | TotalFunds | |
| Funds | 2024 | Funds | 2023 | |
| t | e | € | I | |
| Gantfundingactivities | 120,000 | 120,000 | 139,000 | 139,000 |
| Supportcosts | 6,258 | 6,258 | 6,757 | 6,757 |
| 126,258 | 126,258 | 145,757145,757 | ||
| 7.Expenditure oncharitable activities | byfundtype | |||
| Grantfunding ofactivities |
Supportcosb | Totalfunds 2024 |
Toblfund 2023 |
|
| e | t | t | t | |
| GrantfundingactiMties | 120,000 | 3,690 | 123,690 | 143,399 |
| Gorrernancecosb | 2,568 | 2,569 | 2,358 | |
| 120,000.00 | 6,258 | 126,258145,757 |
||
| 8.Analysisofsupport costs | ||||
| Secrehrial | Tota12024Total2023 | |||
| seruices | ||||
| t | t | t | ||
| Secrehrialseruices | 2,183 | 2,183 | 2,800 | |
| Bankcharges | 67 | 67 | 66 | |
| Accombncyfees | 1,M0 | 1,449 | 1,440 | |
| Office cost | 93 | |||
| 3,690 | 3,690 | 4,399 | ||
| 9.Analysisof grants | ||||
| 2024 | 2023 | |||
| € | t | |||
| Grantstoinstitutions | ||||
| Grantsto Diocesan BoardsofFinance | 120,000139,000 | |||
| Tohlgranb | 120,000139,000 | |||
| 10.Netgainsoninvestments | ||||
| Unresticted | Total Funds | Unresficted | ToElFunds | |
| Funds | 2,J,24 | Funds | 2023 | |
| t | f | f | f | |
| Gains/(losses) onoher inwstnentassets | 328,057 | 328,057 | (274,715)(274,715) |
| lndependent examinationfees | ||
|---|---|---|
| 2024 E |
2023 t |
|
| Feespayabletothe independent examinerfor: | ||
| lndependent examinationof thefinancial statements | 2,568 | 2,358 |
| Listed | |
|---|---|
| investnentsf | |
| Costorvaluation | |
| At1April2023 | 3,255,795 |
| Additions | 581,795 |
| Disposals | 1571,7611 |
| Fairvaluemor,enenb | 329,152 |
| At31March2024 | 3,594,991 |
| lmpairnrent | |
| At1April2023and31 lt/larch 2024 | |
| Carrying amount | |
| At31March2024 | 3,5g4,ggl |
| At 31 March2023 | 3,255,795 |
| Allinvestments shown above are heldatvaluation |
| 2024 | 2023 | |
|---|---|---|
| E | e | |
| Current Account-HSBC | 18,7U | |
| Accrualsand deferredinconre | 8,197 | 7,632 |
| 25,981 | 7,632 |
| Unrestricted funds | ||||||
|---|---|---|---|---|---|---|
| At 'l April2023 |
lncone | Ependifure | Gains and losses |
At3li/hrch 2024 |
||
| € | t | e | t | t | ||
| Generalfunds | 3,303,097 | 87,111 | (142,111) | 328,057 | 1il | |
| At 1Nril2022 |
InconB | Ependifure | Gains and losses |
At31 March 2023 |
||
| t | t | t | € | s | ||
| Generalfunds | 3,ffi,U4 | 91,895 | (160,927) | (274,715) | 3,303,097 | |
| 16 | fuialysisof net assetsbetuveenfunds |
| LJnresticted | Total Funds | |
|---|---|---|
| Funds | 20u | |
| t | E | |
| Tangible fixedasseb | 3,594,981 | 3,594,981 |
| Currentassets | 8,154 | 8,154 |
| Creditorslesshan1year | (26,981) | (26,981) |
| Netassets | 3,576,1543,576,154 | |
| Lhresficted | Total Funds | |
| Funds | 2023 | |
| t | E | |
| Tangible fixedasseb | 3,255,795 | 3,255,795 |
| Currentassets | 54,933 | 54,933 |
| Creditorslesshan1year | (7,632) | (7,632) |
| Netassets | 3,303,0973,303,097 |
| Yearend | ed31Mar | ch 2024 |
|---|---|---|
| 17. Grantsnradeout ofinconc |
||
| Grantsrnadeto the following Diocesan Boards | ofFinancefor | augnrntationof stipends |
| Yearended | ||
| 31t03t2024 | Total todate | |
| Bath andWells | 3,700 | |
| Birmingham | 15,@0 | 354,000 |
| Blackburn | 5,0@ | 155,400 |
| Bradford | 169,400 | |
| Bristol | 14,250 | |
| Canterbury | 51,050 | |
| Carlisle | 64,100 | |
| Chelmsford | 5,000 | 166,450 |
| Chester | 10,650 | |
| Derby | 64,700 | |
| Durham | 10,000 | 404,300 |
| Elv | 1,800 | |
| Exeter | 47,150 | |
| Gloucester | 5,100 | |
| Flereford | 7,000 | |
| Leeds | 14,000 | 'r90,'r00 |
| Leicester | 5,000 | 75,900 |
| Lichfield | 8,000 | 257,550 |
| Lincoln | 7,000 | 54,900 |
| Liverpool | 8,000 | 366,4s0 |
| London | 8,400 | |
| lVhnchester | 326,275 | |
| l€wcastle | 7,000 | 267,800 |
| Norwich | 7,000 | 83,850 |
| Oxford | 5,650 | |
| Peterborough | 4,450 | |
| Portsmouth | 6,0@ | |
| Representative body of the ChurchinWales | 5,650 | |
| Rochester | 2,800 | |
| Salisbury | 9,400 | |
| Shefield | 11,000 | 299,800 |
| Sodor andtvbn | 2A@ | |
| Southwark | 2,500 | |
| Southwell and Nottingham | 7,000 | 183,900 |
| StAbans | 6,850 | |
| St Edmundsbury and lpswich | 11,700 | |
| Truro | 5,000 | 64,350 |
| Wakefield | 192,000 | |
| Winchester | 2,850 | |
| Worcester | 4,150 | |
| York | 6,000 | 340,300 |
| Mscellaneousgrants | 8,497 | |
| 120,000 | 4,303,522 |