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2021-03-31-accounts

Page
Report ofthe Trustees 1 to 10
Report ofthe Independent
Auditors		 11 to 12
Statement
of Financial Activities		 13
Balance Sheet 14
Notes to the Financial Statements 15 to 20
Detailed Statement of Financial Activities 21 to 22

083ECTIVES AND ACTIVITIES
Grants
In support ofthe church's
educational
work
A major
part
of the
Foundation's
objective
is to support
the
Church
of England's		 educational work,
particularly
In
the
Dioceses
of Chelmsford
and
St. Albans.
Grants
are
always		 made for specific
progra mmes or projects.
Diocese ofStAlbans:
To St Albans
Diocesan Board of Education
7		 grants
DIOCESAN
RE AND CHRISTIAN
ETHOS ADVISER
—who supports:
the work of
SACREs in Hertfordshire,
Bedford Borough,
Central
Bedfordshlre
and Luton;
delivery
of Professional
Development
to RE subject leaders:
development
of
advice, guidance
and resources to support
the non-specialist
teaching
Christianity
within
RE; and leading
the development
of high quality
RE across all schools
in
central
Bedfordshlre
and Bedford Borough through
the RE Society of
Bedfordshlre. 50,000
TRAINING
AND DEVELOPMENT FOR RE COORDINATORS
- including
training
of RE
Coordinators, ' introduction
and maintenance
of RETeach; and the delivery of
InspiREd
—a RE subject leader development
programme.		 8,000
DISTINCTIVE CHRISTIAN
CHARACTER - Development
of a series of regional
training
events for Pupil Leaders of worship,
and the development
and
implementing
a Diocesan wide prayer
initiative
entitled
"God In this Place".		 4,500
SPECIAL SERVICES IN THE CATHEDRAL AND OTHER AREAS 3,000
SIAMS INSPECTION
AND MANAGMENT
- To support
the introduction
ofa new
SIAMS admin
and
QA programme;
and to facilitate the training
oftwo further		 S48
Inspectors
who are headteachers
of outstanding
C of E schools.		 10,000
CHURCH
SCHOOL LEADERSHIP DEVELOPMENT
—To support the development		 of
leadership
across the Diocese's 138church schools, etc.		 9,500
ASSISTANT SCHOOLS OFFICER- To support
the work of the Assistant
Schools
Officer 25,000
Total of Diocese ofStAlbans Awards: E110,000
Diocese of Chelmsford:
To Chelmsford
Diocesan Board of Education
8		 grants
SCHOOL ADVISER SUPPORT: RE & COLLECTIVE WORSHIP - The Schools' Team
includes
a full-time
RE Schools Adviser,
and a part-time
Collective
Worship Schools
Adviser. The grant contributes
to salary and expenses for these people as well		 as
the costs of three other Advisers
who work with schools on their Christian
character,
vision etc 40,000
SCHOOL GOVERNANCE
SUPPORT
—The Diocese engages
a consultant
for this		 work
and from time to time, he Is required
to provide
Intensive
support
over a particular
issue as well as regular
training
and networking.
The grant makes this work
possible. 20,000
COMMUNICATIONS,
TRAINING
AND NETWORKING
-A consequence
of Covid has
been moving
most of our training
and support to schools on-line
in various ways.
As well as being a necessity,
some aspects of this (e.g. school leader briefings		 via
Zoom, bulletins
etc) have become more successful
via video conferencing
than		 they
were
in person,
with higher
participation
rates,
However,
the need for back-office
support
to enable an enhanced
range of comms has grown
and we wish to support
this work and their administrative
costs.		 15,000
SECTION 48 (SIAMS) INSPECTIONS &TRAINING
—We have a new SIAMS manager
engaged
on a consultancy
basis.
It is anticipated
that a substantial
amount
of this
work will be transferred
to a new centralised
system to which dioceses
will be		 asked
to contribute.
The overall cost Is likely to be similar.
There have been no
inspections
since lockdown
but we anticipate
starting
again,
In early 2021 when we
shall also have to embark
on a catch up of postponed
inspections.
The grant makes
a significant
contribution
to this work.		 10,000

083ECTIVES AND ACTIVITIES
CHILDREN'S
WORK ADVISER - EARLY YEARS - The role ofthe Early Years Adviser		 is
to support
parishes
to develop their Christian
education
work with young
families
including
the provision of pre-school
groups
with a Christian
focus. She		 also offers
professional
support to pre-school
settings across the diocese
in schools and
parishes. 10,000
GLOBAL LINKS - The planned
reciprocal
visits to Kenya
by 26 teachers		 in 2020 were
not able to take place.
However,
the links continue
in other ways both		 by schools
and our schools'
link officer.
A reduced
amount
from previous
years is		 therefore
sought. 5,000
MISSION IN SCHOOLS - This includes
Archbishop
of York's Trust Young		 Leaders
Award
...Some aspects of this work have been scaled down during
the		 pandemic
period, but we intend
to offer matched
funding
to schools which register for the
Award. The diocesan team to support
mission
with young
people,
children
and
families
is now reduced;
other national
resources,
such as Faith at Home have
Increased;
the grant
will be partly
used to support
schools and parishes		 with this
work as well as promoting
resources.		 5,000
CHURCH SCHOOL LEADERSHIP SUPPORT -
The Church School Leadership
Course
was introduced
in 2016-7.Its purpose
is to equip future school leaders		 for
leadership
in a Church of England
school context. It is to be re-launched		 in Spring
2021 after cancellation
ofthe 2020 cohort. The grant supports
the time		 committed
by diocesan staff and their expenses associated
with the project as well		 as venue
and resource costs. 5,000
Total of Grants within the Diocese of Chelmsford: E110,000

OBIECTIVES AND ACTIVITIES OBIECTIVES AND ACTIVITIES
Corporate Grants for research
and development
in education:
The Foundation
looks to support
activities,
courses,
projects
or research
which
are		 likely to benefit
Religious
Education
and the Church's
educational
work,
with
emphasis
on
activities
which		 support the
work ofteachers or other adults
involved
in education.
CULHAM STGABRIELS - 3forRE Scheme Continuing
as a partner of this scheme.
It
is designed
to offer a Bursary to RE Teachers and Teaching
Assistants
to do a part
time Masters
programme
at selected Universities.
The scheme underwent
a major
review
and redesign
during
2019-20 with the changes
implemented
in 2020-21
including
the Bursary being increased
from 81,700 to 81.900		 8,500
NATRE - New2RE Scheme.
A new mentoring
suppo* scheme developed
by NATRE
over the last year aimed at suppo*lng
new RETeachers
in their first formative
years
with a view to stopping
the "churn" ofteachers
leaving
the profession
after two
years. 6,000
RE COUNCIL - RE Quality
Mark.
This funding
is to support the implementation
ofthe
completely
revised
REQM and
in particular
the costs of website development
and
Assessor training. 4,000
BRIDGE BUILDERS CHRISTIAN TRUST - An ecumenical
project for the provision
of
RE Lessons to all Primary
Schools throughout
Stevenage.
We had previously
supported
BBCT in its work through
the St Albans
Diocesan grant for many years,
the last time being 63,000 in 2012-13		 2,000
BIBLE READING FELLOWSHIP - Funding
for implementation
ofthe Barnabas
in
Schools INSET Project 2,500
SPORTING
MARVELS - PUTTING
A POSITIVE CHRISTIAN
ROLE MODEL IN FRONT OF
CHILDREN;
An ecumenical
project providing
RE/PSE/PE
lessons
ln 17Schools in
Rhondda
using sport as its basis. A detailed
training
programme
and the mighty
marvels journal
can be
viewed at www. sportingmarvels.
corn.		 4,000
THE CROSS PROIECT - providing
Christmas
and Easter lessons etc from a Christian
perspective
to 7 Secondary
Schools in Wakefield
ACCT - New Horizon's
in RE Conference
held on Zoom
in March 2021. Contribution		 2,646
to administration
costs		 500
TO SPONSOR A PRIZE FOR THE BESTRE STUDENT AT BATH SPA UNIVERSITY-
Providing
funding
for a prize for the most worthy
Graduate
from the Study of
Religions/Philosophy
and Ethics Degree at Bath Spa University.
The Prize is evolving
and
will provide I100for student
going on follow a PGCE in Primary
and Secondary.

2021 2020
Unrestricted Endowment Total Total
funds fund funds funds
Notes I 6 I
INCOME AND ENDOWMENTS FROM
Charitable
activities		 105 105 75
Investment
income		 321,396 321,396 354,573
Total 321,501 321,501 354,648
EXPENDITURE ON
Charitable
activities		 3
Grant funding
of activities
Suppo* Costs		 327,274
41,755		 327,274
4I~755		 314,886
44~334
Total 369,029 369,029 359,220
Net gains/(losses)
on investments		 (38p067) Ig256g843 1218776 (1 004 089)
NET INCOME/(EXPENDITURE) (85,595) 1~256~843 1~171~248 (1008 661)
RECONCILIATION
OF FUNDS
Total funds brought forward 192g499 6372 187 6~564~686 7 573 347
TOTAL FUNDS CARRIED FORWARD 106~904 7629030 7/735J934 6 564 686

2021 2020
Unrestricted Endowment Total Total
Notes funds
E		 fund
E		 funds
6		 fundsI
FIXED ASSETS
Investments 90~737 7 629030 7 719g767 6 500 949
CURRENT ASSETS
Cash at bank 19,007 19,007 66,497
CREDITORS
Amounts
falling due within		 one year 9 (2,840) (2,840) (2,760)
NET CURRENT ASSETS 16,167 16,167 63,737
TOTAL ASSETS LESSCURRENT
LIABILITIES 106,904 7,629,030 7,735,934 6,564,686
NET ASSETS 106~904 7r629r030 7g735~934 6 564 686
FUNDS
Unrestricted
funds
Endowment
funds		 106,904
7,629,030		 192,499
6,372,187
TOTAL FUNDS 7/735g934 6~564~686

Year
Ended Year Ended
31.3.21 31.3.20
E E
Dividends - CBF investment funds 83,516 81,078
Dividends
Dividends		 - CBFproperty
funds
- Charifund
investment		 funds 36,008
201,663		 44,222
228,703
Interest on cash deposits 209 507
321,396 354,573
CHARITABLE ACTIVITIES COSTS
Grant
funding of
activities
(see note Support
4) costs Totals
E E
Grant funding
Support Costs		 of activities 327,274 41,755 327,274
41,755
327,274 41,755 369,029
GRANTS PAYABLE
2021 2020
E E
Grant funding of activities 327,274 314,886
The total grants paid to institutions during the year were as follows:
Year Ended Year Ended
31.3.21 31.3.20
E E
Diocese of Chelmsford 110,000 110,000
Diocese of St Albans
Other Corporate
Grants		 110,000
30,146		 110,000
50,030
250,146 270,030

The average
monthly
number
of		 em ployees
during
the year		 was as follow s:
2021 2020
Office 1
No employees
received emoluments		 in excess of560,000.
COMPARATIVES
FOR THE STATEMENT OF FINANCIAL		 ACTIVITIES
Unrestricted Endowment Total
funds fund funds
E E E
INCOME AND ENDOWMENTS FROM
Charitable
activities		 75 75
investment
income		 354,573 354,573
Total 354,648 354,648
EXPENDITURE ON
Charitable
activities
Grant funding
of activities		 314,886 314,886
Support Costs 44,334 44,334
Total 359,220 359,220
Net gains/(losses)
on investments		 (17,669) (986,420) (1,004,089)
NET INCOME/(EXPENDITURE) (22,241) (986,420) (1,008,661)
RECONCILIATION
OF FUNDS
Total funds brought forward 214,740 7,358,607 7,573,347
TOTAL FUNDS CARRIED FORWARD 192,499 6,372,187 6,564,686

at MikG Securities
Limited		 .
Investme Property
nt Fund Fund Charlfund Total
E E E 6
Market value at 1st
April 2020 2,423,537 803,070 3,274,342 6,500,949
Additions/(Disposals) (25,000)
Change
in value
during
the year		 502,772 -17,140 758,187 1,243,819
Market value at 31st
March 2021 2,926,309 785,930 4,007,529 7,719,768
Historical cost:
At 31 March 2021 261,904 883,174 3,137,565 4,282,643
At 31 March 2020 261,904 883,174 3 137565 4g282 643

2021 2020
E E
Audit fee 2,560 2,490
Fee to Corporate Trustee 280 270
2,840 2,760
MOVEMENT IN FUNDS
Net
movement At
At' 1.4.20
f		 in funds
I		 31.3.21
I
Unrestricted funds
General fund 192,499 (85~595) 106~904
Endowment funds
Endowment Fund
6~372~187 1256 843 7g629~030
TOTAL FUNDS 6~564~686 1~17ig248 7~735~934

Net mo vemen t
in funds,
included		 in the above are as fo llows:
Incoming Resources Gains and Movement
resources expended losses in funds
E E E E
Unrestricted funds
General fund 321~501 (369~029) (38~067) (85~595)
Endowment funds
Endowment Fund
1,256,843 1,256,843
TOTAL FUNDS 321~501 (369~029) 1~218g776 1~17ip248

Compar ative s
for movement
ln fun		 ds
Net
movement At
At 1.4.19 in funds 31.3.20
E E E
Unrestricted funds
General fund 214 740 (22~241) 192499
Endowment funds
Endowment Fund
7,358,607 (986,420) 6,372,187
TOTAL FUNDS 7,573,347 (1,008,661) 6,564,686
Compara tive net movement
in f		 unds,
included
in the abo		 ve are as foll ows:
Incoming Resources Gains and Movement
resources expended losses in funds
E E E E
Unrestricted funds
General fund 354,648 (359,220) (17,669) (22,241)
Endowment funds
Endowment Fund
(986,420) (986,420)
TOTAL FUNDS 354,648 (359,220) (1,004,089) (1,008,661)

A curren t ye ar 12 months
and prior ye		 ar 12 months
combined
position		 is as follows:
Net
movement At
At 1.4.19
I		 in funds
I		 31.3.21
I
Unrestricted funds
General fund 214,740 (107,836) 106,904
Endowment funds
Endowment Fund
7,358,607 270,423 7,629,030
TOTAL FUNDS 7,573,347 162,587 7,735,934

the above ar

e as follows:
incoming Resources Gains and Movement
resources
I		 expended
I		 losses
I		 In funds
I
Unrestricted funds
General
fund		 676,149 (728,249) (55,736) (107,836)
Endowment funds
Endowment Fund
270,423 270,423
TOTAL FUNDS 676,149 (728,249) 214,687 162,587

2021 2020
E E
INCOME AND ENDOWMENTS
Charitable
activities
Donations		 105 75
Investment
Income
investment
income		 321,396 354,573
Total incoming
resources		 321,501 354,648
EXPENDITURE
Charitable
activities
Grants to institutions
Grants to individuals		 250,146
77,128		 270,030
44,856
327,274 314,886
Support costs
Human
resources
Wages
Social security		 33,343 33,344
411
33,343 33,755
Other
insurance
Office supplies,
post 8r tel
Computer
/ website costs
Staff travel expenses
ACCT and RE council membership		 326
2,591
1,471
19
1,132		 325
3,953
580
407
462
5,539 5,727
Transfer of Governance
Costs
Wages
Social security costs
insurance
Office supplies,
post 6tel
Computer
/ website costs
Staff travel expenses
ACCT and RE council membership		 (3,334)
(33)
(231)
(147)
(2)
(113)		 (3,334)
(41)
(32)
(395)
(58)
(25)
(46)
(3,860) (3,931)
Governance
costs
Trustees'
expenses
Auditors'
remuneration
Auditors'
remuneration
for
Governance
Support Costs
Costs ofTrustees
meetings		 non audit work 2,560
280
3,893		 1,037
2,525
270
3,933
1,018
6,733 8,783

2021I 2020
5
Total resources expended 369,029 359,220
Net expenditure (47,528) (4,572)