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2023-08-31-accounts

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 2023 2022
Income from:
Charitable
activities		 91,200 402 91,602 82,182
Investments 696,262 696,262 697,159
Total income 91,200 696,664 787,864 779,341
Expenditure
on:
Charitable
activities:
Grants payable 4 120,000 221,272 341,272 182,164
Programme
costs/strategic		 funding 5 45,019 275,424 320,443 534,670
Core support costs 6 226,404 226,404 240,558
Total expenditure 165,019 723,100 888,119 957,392
Net income/(expenditure) before
gains on investments (73,819) (26,436) (100,255) (178,051)
Net gains on investments 12 (748,507) (28,497) (777,004) (863,918)
Net income/(expenditure) (748,507) (73,819) (54,933) (877,259) (1,041,969)
Extraordinary
items		 (500,000)
Transfer between
funds		 (140,000) 3,000 137,000
Net movement
in funds		 (888,507) (70,819) 82,067 (877,259) (1,541,969)
Fund balances
brought		 forward
at 1st September 2022 22,442,512 70,819 753,555 23,266,886 24,808,855
Fund balances carried forward
at31stAugust 2023 21,554,005 835,622 22,389,627 23,266,886

Culham StG abriel's Trust
Balance Sheet
at31stAugust 2023
Note 2023 2022
Fixed assets
Tangible fixed assets 11 6,946 1,532
Investments 12 22,570,450 23,347,454
22,577,396 23,348,986
Current assets
Debtors 13 181,905 124,565
Short term deposits 14 178,095 317,622
Cash at bank and
in hand		 15 17,498 87,479
377,498 529,666
Liabilities: amounts falling due
within one year 16 (393,171) (361,029)
Net current assets/(liabilities (15,673) 168,637
Total assets less current liabilities 22,561,723 23,517,623
Liabilities:
amounts		 falling due
after more than one year 17 (172,096) (250,737)
Net assets excluding pension liability 22,389,627 23,266,886
Defined benefit pension liability
Net assets 22,389,627 23,266,886
Capital funds
Endowment 19 21,554,005 22,442,512
Income funds
Restricted funds 19 70,819
Unrestricted
funds
-		 general 19 835,622 753,555
Total charity funds 22,389,627 23,266,886

Note 2023 2022
F
Net cash flow from operating activities 22 (899,394) (675,711)
Cash flow from investing activities
Purchase oftangible assets
Proceeds from sale of investments		 (6,376) (2,043)
640,000
Interest received 439 51
Dividends
received		 695,823 697,108
Net cash flow from investing activities 689,886 1,335,116
Net (decrease)/increase
in cash and cash equivalents
before extraordinary
items		 (209,508) 659,405
Extraordinary
expenditure		 (500,000)
Net (decrease)/increase
in		 cash and cash equivalents (209,508) 159,405
Cash and cash equivalents at 1stSeptember 2022 405,101 245,696
Cash and cash equivalents at 31stAugust 2023 195,593 405,101
Cash and cash equivalents consist of:
Cash at bank and
in hand		 15 17,498 87,479
Short term deposits 14 178,095 317,622
Cash and cash equivalents at 31stAugust 2023 195,593 405,101

Income from c ha ritable
activ		 ities
2023 2022
K
Funding
received:
Association of Church College Trusts - Membership 2,763
The Hockerill Foundation and Refunds —Masters scholarships 11,700 7,800
Horizons Seminar —Participant Contributions 402 800
Jerusalem Trust —RE Hub/ Leadership Programme 60,000 60,000
Templeton World Charity Foundation —RExChange/RE Online 10,819
ITT Recruitment 15,000
Participatory Grant Making 4,500
91,602 82,182

Number
ofgrants
Institutions
(see note 4b)		 336,272 22
Chair's
Fund		 7,500 7
Refunds/withdrawals/amendments to previous period grants (2,500)
341,272 29
4b) Grants payable to institutions
2023
Wikimedia
UK		 6,625
Barnet SACRE 10,000
University
ofLeeds		 14,000
Open University
Young		 People and Religion 25,971
Canterbury
Christ Church		 University 28,387
Holocaust
Memorial
Day Trust		 30,000
London South Bank University 29,593
LSEFaith Centre
St Peter's Saltley Trust		 8 University of Birmingham 29,968
18,728
Jewish Museum
London		 13,000
Warren Road Primary School 1,000
Diocese ofStAsaph 1,000
National Association
of		 Teachers of Religious Education 1,000
Diocese ofManchester 1,000
Saxlingham
Nethergate		 CE Primary School 1,000
Myton School 1,000
LTLRE North West 1,000
St Barnabas CE Primary School 1,000
RE Matters 1,000
Tower Hamlets SACRE 1,000
REToday 120,000
336,272

Culham StGabriel's Trust Culham StGabriel's Trust Culham StGabriel's Trust Culham StGabriel's Trust Culham StGabriel's Trust Culham StGabriel's Trust
Notes tothe accounts (continued)
forthe year ended 31stAugust 2023
5. Programme
costs/strategic
funding
2023 2022f
Strategic Objective 1:Promoting
public		 perception 54,536 51,519
Strategic Objective 2:Influencing
government		 policy 30,275 296,200
Strategic Objective 3:Advocating
for importance		 ofRW 67,002 23,423
Strategic Objective 4:Excellent Leadership and Teaching 138,303 115,793
Strategic Objective 5:R&W community working cohesively 2,604 47,735
Strategic Objective Internal 5:Grants strategy 27,723
320,443 534,670
Ofthe above, the following
related to restricted		 expenditure:
Restricted expenditure:
3-nine - Recruitment		 18,000
Strategic Objective 4:Excellent Leadership and Teaching 22,519 7,800
Strategic Objective Internal 5:Grants strategy 4,500
45,019 7,800
6. Core support costs
2023 2022
F F
Salaries, wages and fees (note 8) 172,451 196,079
Staff development 408 465
Library expenses 18 70
Telephone,
printing,
postage, stationery		 and advertising 744 760
Equipment,
repairs and renewals		 10,032 8,083
Travel expenses and subsistence 3,547 2,538
Professional
charges and consultancy		 2,289 925
Memberships/publications 2,696 3,743
Rent 7,808 7,405
Depreciation 962 1,261
Auditor's
remuneration
- other fees		 1,287 1,845
Sundry expenses 2,728 65
Governance costs (see note 7) 21,434 17,319
226,404 240,558

2023f 2022
Insurance 3,692 3,477
Trustees' expenses 2,487 4,602
Trustees' additional strategy/DEI focused work 5,295
Auditor's remuneration - Audit fee 9,960 9,240
21,434 17,319

2023 2022
E
Gross wages 130,725 147,790
Employers NIC 6,130 8,240
Pension contributions 35,596 58,159
Movement in pension provision (18,110)
172,451 196,079

Fixed assets
Tangible Office Furniture
equipment &fittings Total
E
Cost
At 1st September 2022 23,476 6,794 30,270
Additions 6,376 6,376
Disposals (14,526) (6,794) (21,320)
At 31stAugust 2023 15,326 15,326
Depreciation
At 1stSeptember 2022 21,944 6,794 28,738
Charge for the year 962 962
Eliminated
on disposals		 (14,526) (6,794) (21,320)
At 31stAugust 2023 8,380 8,380
Net book value
At 31stAugust 2023 6,946 6,946
At 31stAugust 2022 1,532 1,532

12. Fixed asset investments Fixed asset investments
2023 2022
a. Movement
in year
Permanent
endowment
Market value 1stSeptember 2022 22,302,512 23,763,729
Realised/unrealised
gains		 in market value (748,507) (822,917)
Deposit to investment
fund		 1,700
Withdrawal
from investment		 fund (640,000)
Market value 31stAugust 2023 21,554,005 22,302,512
Unrestricted
general fund
Market value 1stSeptember 2022 1,044,942 1,085,943
Unrealised
gains
in market		 value (28,497) (41,001)
Market value 31stAugust 2023 1,016,445 1,044,942
Total market value 31stAugust 2023 22,570,450 23,347,454
b. At 31stAugust 2023
Cost Market value
E
Permanent
endowment
CBFChurch ofEngland:
Investment
Fund		 7,459,654 18,153,652
Property
Fund		 1,885,612 1,906,593
Global Equity Fund 694,479 1,493,760
At 31stAugust 2023 10,039,745 21,554,005
At 31stAugust 2022 10,039,745 22,302,512
Unrestricted
general fund
CBFChurch ofEngland:
Investment
Fund		 293,809 943,037
Property
Fund		 46,941 50,354
Global Equity Fund 6,694 23,054
At 31stAugust 2023 347,444 1,016,445
At 31stAugust 2022 347,444 1,044,942

13. Debtors
2023 2022
F K
Trade debtors 37 30
Accrued investment income 115,591 115,584
Prepayments and other accrued income 66,277 8,951
181,905 124,565
14. Short term deposits
2023 2022
F
CBFordinary deposit 178,095 317,622
15. Cash and bank
2023 2022
F F
Current Account 17,498 87,479
16. Liabilities: amounts falling due within one year
2023 2022
F F
Trade creditors 212 5,216
Accruals and deferred income 17,881 16,095
Grant and programme commitments (see note 18) 375,078 339,718
393,171 361,029

Commitments
entered
into/increased		 Grants (paid)/
Payable in Commitment at during the period deferred Commitment at
year 1stSeptember 2022 (net ofwithdrawals) in the period 31stAugust 2023
E
2022/23 339,718 167,766 (507,484)
2023/24 159,833 210,816 4,429 375,078
2024/25 88,904 57,290 94 146,288
2025/26 2,000 13,333 2,475 17,808
2026/27 6,000 6,000
2027/28 2,000 2,000
590,455 457,205 (500,486) 547,174
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2023 2022
K
Net income for year (877,259) (1,541,969)
Proceeds from sale of investments (640,000)
Dividends
received		 (695,823) (697,108)
Interest receivable (439) (51)
Depreciation
and impairment		 oftangible fixed assets 962 1,261
Loss/(gain)
on investment		 777,004 1,502,219
Decrease
in debtors		 (57,340) 21,112
Increase
in creditors		 (46,499) 196,935
Decrease
in pension
Section 75 pensions		 provision
settlement		 (18,110)
500,000
Net cash flow from operating activities (899,394) (675,711)

Endowment Restricted Unrestricted Total
Fund Funds Funds 2022
Income from:
Charitable
activities		 81,382 800 82,182
Investments 697,159 697,159
Total income 81,382 697,959 779,341
Expenditure
on:
Charitable
activities:
Grants payable 182,164 182,164
Programme
costs/strategic		 funding 7,800 526,870 534,670
Core support costs 2,763 237,795 240,558
Total expenditure 10,563 946,829 957,392
Net income/(expenditure) before
gains on investments 70,819 (248,870) (178,051)
Net gains on investments (822,917) (41,001) (863,918)
Net income/(expenditure) (822,917) 70,819 (289,871) (1,041,969)
Extraordinary
items		 (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)
Fund balances
brought		 forward
at 1stSeptember 2021 23,765,429 1,043,426 24,808,855
Fund balances carried forward
at 31stAugust 2022 22,442,512 70,819 753,555 23,266,886