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||Page|
|---|---|
|Trustees' annualreport|1|
|lndependentexamine/sreporttothetrustees|5|
|Statementoffinancial activities|6|
|Statementoffinancialposition|7|
|Notes tothe financial statements|8|
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|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|
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|||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|(274,775)|
|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|
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||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|
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||Unrestricted|Total Funds|Unrestricted|Total Funds|
|---|---|---|---|---|
||Funds|2024|Funds|2023|
||e|€|t|€|
|Portfolionanagenent|15,853|15,953|15,169|15,169|
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|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)||
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|lndependent examinationfees|||
|---|---|---|
||2024
E|2023
t|
|Feespayabletothe independent examinerfor:|||
|lndependent examinationof thefinancial statements|2,568|2,358|
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||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||
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||2024|2023|
|---|---|---|
||E|e|
|Current Account-HSBC|18,7U||
|Accrualsand deferredinconre|8,197|7,632|
||25,981|7,632|
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||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||
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|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|