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2022-03-31-accounts

Page
Report ofthe Trustees 1 to 11
Report ofthe Independent
Auditors		 12 to 13
Statement
of Financial Activities		 14
Balance Sheet 15
Notes to the Financial Statements 16 to 21
Detailed Statement
of Financial Activities		 22

Diocese of Chelmsford:
To Chelmsford
Diocesan Board of Education
8 grants
OBJECTIVES AND ACTIVITIES
SCHOOL ADVISER SUPPORT: RE Ik COLLECTJVE 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 ofthree 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 qetworklng.
The grant makes this work
possible. 20,000
COMMUNICATIONS,
TRAINING
AND NETWORKING
- A consequence
of Covld has
been moving
most of our training
and support to schools online
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 partldpation
rates.
We Intend to further
develop
the
production
ofYouTube broadcasts.
The grant supports
the cost of our Comms
Schools Administrator.
A revised website
Is scheduled
for launch
In 2021		 15,000
SECTION 48 (SJAMS) INSPECTIONS
Ik TRAINING - A new centrallsed
system
for the
administration
of SJAMS will be launched
in Sept 2021 to which dloceses will be
asked to contribute.
Our own SJAMS manager
retires
In July 2021 In anticipation		 of
this.
We have been notified that our diocesan
contribution
to the new system
will
be E6,500 (Calculated
in Sept 2020).
We don't antldpate
a return to full
inspections
until Sept 2021.		 7,000
CHILDREN'S
WORK ADVISER - EARLY YEARS - The role of the 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
acrdss the diocese
In schools and
parishes. 10,000
GLOBAL LINKS - The planned
redprocal
visits to Kenya
by 26 teachers
ln 2020 were
not able to take place. However,
the links continue
In other ways both by schools
and our schools link office. A much-reduced
amount
from previous
years Is
therefore
sought since there
Is unused
money from last year's grant.		 2,000
MISSION IN SCHOOLS Inc. Archbishop
ofYork's Trust Young Leaders Award - Some
aspects of this work were scaled down
during
the pandemic
period, but we intend to
offer matched
funding
to schools which register for the Award.
We Intend to
"relaunch" the scheme during
and beyond 2021.The Bradwell Schools Pilgrimage
Intends to relaunch
also;
In the event that there is unused
grant from the allocation
to support
Young Leaders, grant can be diverted
to support
this excellent project		 3,000
CHURCH
SCHOOL LEADERSHIP COURSE - The Church
School Leadership
Course
was Introduced
In 2016-7.Jts purpose
Is to equip future school leaders for
leadership
In a Church of England
school context. The next cohort will begin work in
June 2021 and with a residential
In the autumn.
The grant supports
the time
committed
by diocesan staff and their expenses associated
with the project as well
as venue
and resource costs		 3,000
Total of Grants within the Diocese of Chelmsford: 6100,000

2022 2021
Unrestricted Endowment Total Tota I
Notes funds
I		 fund
I		 funds funds
INCOME AND ENDOWMENTS FROM
Charitable
activities		 65 65 105
Investment
Income		 2 328971 328 971 321396
Total 329 036 329 036 321 501
EXPENDITURE ON
Charitable
activities		 3
Grant funding
of activities
Support Costs		 290,418
42 196		 290,418
42 196		 327,274
41 755
Total 332 614 332614 369 029
Net gains on investments 32382 624126 656 ~08 1 218 776
NET INCOME 28,804 624,126 652,930 1,171,248
RECONCILIATION
OF FUNDS
Total funds brought forward 1067904 776297030 777357934 6 564 686
TOTAL FUNDS CARRIED FORWARD 135708 8 253 156 8 388864 7 735 934

2022 2021
Unrestricted Endowment Total Tata I
Notes funds
f		 fund
f		 funds
f		 funds
f
FIXEDASSETS
Investments 1237117 872539156 873767273 777197767
CURRENT ASSETS
Cash at bank 15,555 15,555 19,007
CREDITORS
Amounts
falling due within		 one year 9 (2,964) (2,964) (2,840)
NET CURRENT ASSETS 12591 12591 16 167
TOTAL ASSETS LESSCURRENT
LIABILITIES 135,708 8,253,156 8,388,864 777357934
NET ASSETS 135700 8 253 156 0 380 004 7735934
FUNDS 10
Unrestricted
funds		 135,708 106,904
Endowment
funds		 8 253 1~6 7 629 ~30
TOTAL FUNDS 8 300 064 7 735 934

Year
Ended Year Ended
31.3.22 31.3.21
f
Dividends - CBF Investment funds 86,025 83,5i6
Dividends
Dividends		 - CBF property
funds
- Charifund
Investment		 funds 38,746
204,131		 36,008
201,663
Interest on cash deposits 69 209
328922 321396
CHARITABLE ACTIVITIES COSTS
Grant
funding of
activities
(see note Support
4)
f		 costs
f		 TotaIs
f
Grant funding of activities 2901418 2901418
Support Costs 42 196 42 196
290 418 42 196 332614
GRANTS PAYABLE
2022 2021
f
Grant funding of activities ~290418 ~327 274
The total grants paid to Institutions during the year were as follows:
Year Ended Year Ended
31.3.22
f		 31.3.21
f
Diocese of Chelmsford
Diocese ofSt Albans
Other Corporate
Grants		 110,000
110,000
28950		 1i0,000
110,000
30 146
228 950 250 146

The average
monthly
number
of		 em ployees
during
the year		 was as follow s: s:
2022 2021
Office 1 1
No employees
received emoluments		 In excess off60,000.
COMPARATIVES
FOR THE STATEMENT OF FINANCIAL		 ACTIVITIES
Unrestricted Endowment Total
funds
I		 fund
6		 fundsI
INCOME AND ENDOWMENTS FROM
Charitable
activities		 105 105
Investment
Income		 321396 321396
Total 321 501 321 501
EXPENDITURE ON
Charitable
activities
Grant funding
of activities		 327,274 327,274
Support
Costs		 41 755 41 755
Total 369 029 369 029
Net gains/(losses)
on Investments		 ~38 0677 1 256 843 1 218 776
NET INCOME/(EXPENDITURE) (85 595) 172567843 171717248
RECONCILIATION
OF FUNDS
Total funds brought
forward		 192,499 6,372,187 6,564,686
TOTAL FUNDS CARRIED FORWARD 106 904 7 629 030 7 735 934

at M&G Secu rities
Limited.
Investme Property
nt Fund
6		 Fund
6		 Charifund
6		 Totalf
Market value at 1st
April 2021 2,926,309 785,930 4,007,529 7,719,768
Additions/(Dlsposals)
Change
In value
during
the year		 246,618 117,845 292 044 6567507
Market value at 31st
March 2022 3 172 927 903770 4 299 573 8 376 275
Historical cost:
At 31 March 2022 261,904 883,174 3,137,565 4,282,643
At 31 March 2021 261 904 803 174 3 137065 4 202 643
9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
I
Audit fee 2,676 2,560
Fee to Corporate Trustee 288 280
~2964 ~2840
10. MOVEMENT IN FUNDS
Net
movement At
At 1.4.21
In funds
I
I		 31.3.22
Unrestricted funds
General
fund		 106,904 28,804 135,708
Endowment funds
Endowment Fund
776299030 6247126 872537156
TOTAL FUNDS 7 73~ 934 652 030 8300864

MOVEMENT MOVEMENT IN FUNDS - contin ued
Net movement in funds, induded in the above are as follows:
incoming Resources Gains and Movement
resources
E		 expended
I		 losses
I		 In funds
I
Unrestricted funds
General
fund		 3297036 (3329614) 32,382 28,804
Endowment funds
Endowment Fund
6247126 6249126
TOTAL FUNDS ~329036 ~332614) ~656 508 ~652 930

Compar ative s
for movement
In fun		 ds
Net
movement At
At 1.4.20
I		 in funds
E		 31.3.21
I
Unrestricted funds
General fund 1921499 (851595) 1061904
Endowment funds
Endowment Fund
673727187 1 2567843 77629 030
TOTAL FUNDS 6 564 686 1 171248 7 735 934
Comparative net movement
in f		 unds,
Included
In the a		 bove are as follo ws:
incoming Resources Gains and Movement
resources
E		 expended
I		 losses
I		 in funds
I
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 ~369029) 1 218 776 1 171248

A curren t ye ar 12 months
and prior ye		 ar 12 months
combined
position		 Is as follows:
Net
movement At
At 1.4.20
I		 In funds
f		 31.3.22
I
Unrestricted funds
General fund 192,499 (56,791) 135,708
Endowment funds
Endowment Fund
673727187 178807969 812537156
TOTAL FUNDS 6 664 686 1 824 178 8 388864
the above ar e as follows:
incoming Resources Gains and Movement
resources
I		 expended
I		 losses
I		 In funds
I
Unrestricted funds
General
fund		 650,537 (701,643) (5,685) (56,791)
Endowment funds
Endowment Fund
1,880,969 1,880,969
TOTAL FUNDS ~650 537 ~701 643) 1~875284 1~824 178

2022I 2021I
INCOME AND ENDOWMENTS
Charitable
activities
Donations 65 105
Investment
Income
Investment
Income		 3~28 971 ~321396
Total incoming
resources		 329,036 321,501
EXPENDITURE
Charitable
activities
Grants to institutions 228,950 250,146
Grants to individuals ~61468 ~77 128
290,418 327,274
Support costs
Human
resources
Wages 35,144 33,343
Other
Insurance 327 326
Office supplies,
post 8		 tel 1,987 2,591
Computer
/ webslte costs
Staff travel expenses
ACCT and
RE council membership		 344
94
893		 1,471
19
~1132
3,645 5,539
Transfer of Governance Costs
Wages
Insurance
ONce supplies,
post Ik tel
Computer
/ webslte costs
Staff travel expenses
ACCT and RE council membership		 (3,514)
(33)
(199)
(34)
(9)
~89)		 (3,334)
(33)
(231)
(147)
(2)
~113)
(3,878) (3,860)
Governance
costs
Trustees' expenses 104
Auditors'
remuneration		 2,672 2,560
Auditors'
remuneration		 for non audit work 288 280
Governance
Support Costs
Costs ofTrustees
meetings		 3,878
343		 3,893
~7285 ~6733
Total resources
expended		 3~32614 ~369 029
Net expenditure ~3578) ~47 528)