2022-08-31-accounts - Culham St Gabriel's Trust

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Charity Information	Charity Information
CEO:		Kathryn Wright
Auditor:		Wenn Townsend
		Chartered	Accountants
		30St Giles'
		Oxford
		OX1 3LE
Bankers:		National Westminster				Bank pic
		11 Market	Place
		Abingdon
		Oxon
		OX14 3HH
Investment	Managers:	CCLA Investment			Management		Limited
		Senator House,			85 Queen Victoria Street
		London
		EC4V4ET
Solicitors:		Winckworth		Sherwood
		16Beaumont		Street
		Oxford
		OX1 2LZ
Registered	Charity No:	309671

		Note	Endowment	Restricted	Unrestricted	Total	Total
			Fund	Funds	Funds	2022	2021
			F	E	f	F
Income from:
Charitable activities				81,382	800	82,182	101,074
Investments					697,159	697,159	682,439
Total income				81,382	697,959	779,341	783,513
Expenditure on:
Charitable activities:
Grants payable		4			182,164	182,164	198,384
Programme costs/strategic	funding	5		7,800	526,870	534,670	469,941
Core support costs		6		2,763	237,795	240,558	224,964
Total expenditure				10,563	946,829	957,392	893,289
Net income/(expenditure)	before
gains on investments				70,819	(248,870)	(178,051)	(109,776)
Net gains on investments		12	(822,917)		(41,001)	(863,918)	3,618,860
Net income/(expenditure)			(822,917)	70,819	(289,871)	(1,041,969)	3,509,084
Extraordinary items		24			(500,000)	(500,000)
Transfer between funds			(500,000)		500,000
Net movement in funds			(1,322,917)	70,819	(289,871)	(1,541,969)	3,509,084
Fund balances brought forward
at 1st September 2021			23,765,429		1,043,426 24,808,855		21,299,771
Fund balances carried forward
at31stAugust 2022			22,442,512	70,819	753,555 23,266,886		24,808,855

				Culham StGabriel's Trust	Culham StGabriel's Trust
				Balance Sheet
				at 31stAugust 2022
				Note	2022	2021
Fixed assets
Tangible fixed		assets		11	1,532	750
Investments				12	23,347,454	24,849,673
					23,348,986	24,850,423
Current assets
Debtors				13	124,565	145,677
Short term deposits				14	317,622	211,489
Cash at bank		and in hand		15	87,479	34,207
					529,666	391,373
Liabilities: amounts	falling due
within	one year			16	(361,029)	(267,817)
Net current assets/(liabilities					168,637	123,556
Total assets less current liabilities					23,517,623	24,973,979
Liabilities: amounts	falling due
after more than one year				17	(250,737)	(147,014)
Net assets excluding		pension	liability		23,266,886	24,826,965
Defined benefit pension		liability				(18,110)
Net assets					23,266,886	24,808,855
Capital funds
Endowment				19	22,442,512	23,765,429
Income funds
Restricted funds				19	70,819
Unrestricted funds	-	general		19	753,555	1,043,426
Total charity funds					23,266,886	24,808,855

			Note	2022	2021
					E
Net cash flow from operating		activities	23	(675,711)	(649,979)
Cash flow from investing	activities
Purchase oftangible assets Proceeds from sale of investments				(2,043) 640,000
Interest received				51	6
Dividends received				697,108	682,433
Net cash flow from investing		activities		1,335,116	682,439
Net (decrease)/increase in cash and cash equivalents
before extraordinary items				659,405	32,460
Extraordinary expenditure				(500,000)
Net (decrease)lincrease in	cash and cash equivalents			159,405	32,460
Cash and cash equivalents		at 1stSeptember	2021	245,696	213,236
Cash and cash equivalents		at 31stAugust 2022		405,101	245,696
Cash and cash equivalents		consist of:
Cash at bank and in hand			15	87,479	34,207
Short term deposits			14	317,622	211,489
Cash and cash equivalents		at 31stAugust 2022		405,101	245,696

3.	Income from investments	Income from investments	Income from investments	Income from investments
										2022	2021
										E	E
	Investment funds									697,108	682,433
	Bank interest									51	6
										697,159	682,439
4a)	Grants payable
											Number
											ofgrants
	Institutions (see note		4b)							157,664	5
	Individuals									24,500	15
										182,164	20
4b)	Grants payable to institutions
											2022
	Edge Hill University										9,975
	Religion Media Centre										2,500
	Liverpool Community		Spirit								1,986
	Canterbury Christ Church			University		(CCCU)					17,428
	Bristol University										5,000
	Rose Castle Foundation										4,950
	Independent Schools		Religious Studies Association					(ISRSA)			1,625
	David Ross Education		Trust (DRET)								4,926
	Association of University			Lecturers	in	Religious	Education		(AULRE)		585
	Ormiston Academies	Trust									25,300
	The Church in Wales										18,700
	Nottingham University										29,522
	Portsmouth SACRE										2,385
	The London Oratory School										8,240
	Religion Media Centre										25,000
	Refunds/withdrawals/amendments				to	previous	period	grants			(458)
											157,664

Programme costs/strat	egic	funding
					2022	2021
					E	E
RE:ONLINE					34,761	33,228
Research					16,800	14,160
TEACH:RE					190	15,722
3forRE (net of Refunds/withdrawals/amendments			to previous	period grants)		3,020
Partnership work					1,360
Masters Scholarships					32,480	40,550
Conferences					2,735	7,565
Leadership and Infrastructure					78,163	43,453
RE Policy (strategic funding		awards)			292,000	225,000
Funders					4,200	3,000
Chartered Teacher programme					1,398
SKECourse —expenditure					1,312	49,573
Advocacy with educationalists						18,670
NATRE Chair Fund						16,000
E-Learning Platform					15,840
Promoting Public Perception					53,431
					534,670	469,941
Ofthe above, the following		related to restricted	expenditure:
RE:Online						7,375
Research
Masters Scholarships/3	for RE				7,800	8,500
Conference expenditure						5,825
Leadership & Infrastructure						25,650
SKECourse expenditure						49,753
					7,800	97,103

Core support cost	s
					2022	2021
					E
Salaries, wages and		fees (note 8)			196,079	168,183
Staff development					465	455
Library expenses					70	47
Telephone, printing,		postage, stationery		and advertising	760	1,279
Equipment, repairs	and		renewals		8,083	18,713
Travel expenses and		subsistence			2,538	239
Professional charges		and consultancy			925
Memberships/publications					3,743	7,958
Rent					7,405	13,328
Depreciation Auditor's remuneration			- other fees		1,261 1,845	1,102 1,095
Sundry expenses					65	406
Interest on pension	provision unwinding					278
Governance costs	(see		note 7)		17,319	11,881
					240,558	224,964

					2022	2021
					F
Insurance Trustees'	expenses				3,477 4,602	3,316 165
Auditor's	remuneration	-	Audit	fee	9,240	8,400
					17,319	11,881

			2022	2021
			F
Gross wages			120,155	135,648
Employers	NIC		8,240	11,073
Pension contributions			85,794	22,523
Movement	in pension	provision	(18,110)	(1,061)
			196,079	168,183

Fixed assets		Furniture
Tangible	Office
	equipment	&fittings	Total
			f.
Cost
At 1stSeptember 2021	21,433	6,794	28,227
Additions	2,043		2,043
Disposals
At 31stAugust 2022	23,476	6,794	30,270
Depreciation
At 1st September 2021	20,683	6,794	27,477
Charge for the year	1,261		1,261
Eliminated on disposals
At 31stAugust 2022	21,944	6,794	28,738
Net book value
At 31stAugust 2022	1,532		1,532
At 31stAugust 2021	750		750

Fixed asset investments	Fixed asset investments
			2022	2021
			E	E
a.	Movement in year
	Permanent endowment
	Market value 1st September 2021		23,763,729	20,304,132
	Realised/unrealised gains	in market value	(822,917)	3,459,597
	Deposit to investment fund		1,700
	Withdrawal from investment	fund	(640,000)
	Market value 31stAugust 2022		22,302,512	23,763,729
	Unrestricted general fund
	Market value 1stSeptember 2021		1,085,943	926,681
	Unrealised gains in market	value	(41,001)	159,263
	Market value 31stAugust 2022		1,044,942	1,085,944
	Total market value 31stAugust 2022		23,347,454	24,849,673
b.	At 31stAugust 2022
			Cost	Market value
				E
	Permanent endowment
	CBFChurch of England:
	Investment Fund		7,459,654	18,477,636
	Property Fund		1,885,612	2,365,048
	Global Equity Fund		694,479	1,459,828
	At 31stAugust 2022		10,039,745	22,302,512
	At 31stAugust 2021		10,363,001	23,763,729
	Unrestricted general fund
	CBFChurch ofEngland:
	Investment Fund		293,809	959,949
	Property Fund		46,941	62,463
	Global Equity Fund		6,694	22,530
	At 31stAugust 2022		347,444	1,044,942
	At 31stAugust 2021		347,444	1,085,944

			Notes	tothe accounts (continued)
			forthe	year ended 31stAugust 2022
13.	Debtors
					2022	2021
						E
	Trade debtors				30	16,566
	Accrued investment		income		115,584	116,343
	Prepayments	and other accrued income			8,951	12,768
					124,565	145,677
14.	Short term deposits
					2022	2021
						F
	CBFordinary	deposit			317,622	211,489
15.	Cash and bank
					2022f	2021
	Current Account				87,479	34,207
16.	Liabilities: amounts		falling due within one year
					2022	2021
	Trade creditors				5,216	19,923
	Accruais and deferred		income		16,095	9,910
	Grant and programme		commitments	(see note 19)	339,718	237,984
					361,029	267,817

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		Endowment	Restricted	Unrestricted	Total
		funds	fundsf	fundsf	funds F
Tangible fixed assets				1,532	1,532
Investments		22,302,512		1,044,942	23,347,454
Debtors				124,565	124,565
Cash at bank and	in hand	140,000	76,669	188,432	405,101
Liabilities: due within one year			(5,850)	(355,179)	(361,029)
Liabilities: due after one year				(250,737)	(250,737)
		22,442,512	70,819	753,555	23,266,886

			2022	2021
Net income for year			(1,541,969)	3,509,084
Proceeds from sale ofinvestments			(640,000)
Dividends received Interest receivable Depreciation and impairment	oftangible	fixed assets	(697,108) (51) 1,261	(682,433) (6) 1,102
Loss/(gain) on investment Decrease in debtors Increase in creditors Decrease in pension provision Section 75 pensions settlement			1,502,219 21,112 196,935 (18,110) 500,000	(3,618,860) 5,807 136,111 (784)
Net cash flow from operating	activities		(675,711)	(649,979)

			Endowment	Restricted	Unrestricted		Total
			Fund	Funds	Funds		2021
						E	E
Income from:
Charitable activities Investments				97,214	3,860 682,439		101,074 682,439
Total income				97,214	686,299		783,513
Expenditure on:
Charitable activities:
Grants payable Programme costs/strategic Core support costs		funding		97,103 5,761	198,384 372,838 219,203		198,384 469,941 224,964
Total expenditure				102,864	790,425		893,289
Net income/(expenditure)		before
gains on investments				(5,650)	(104,126)		(109,776)
Net gains on investments			3,459,597		159,263		3,618,860
Net income/(expenditure)			3,459,597	(5,650)	55,137		3,509,084
Net movement in funds			3,459,597	(5,650)	55,137		3,509,084
Fund balances brought	forward
at 1st September 2020			20,305,832	5,650	988,289	21,299,771
Fund balances carried	forward
at 31stAugust 2021			23,765,429		1,043,426	24,808,855