## |||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)|