| e ary , ofthe Charity. All Trustees give oftheir time freely and no Trustee remun Details ofTrustee expenses are disclosed in Note 2 to the accounts. Trustees |
e ary , ofthe Charity. All Trustees give oftheir time freely and no Trustee remun Details ofTrustee expenses are disclosed in Note 2 to the accounts. Trustees |
e ary , ofthe Charity. All Trustees give oftheir time freely and no Trustee remun Details ofTrustee expenses are disclosed in Note 2 to the accounts. Trustees |
e ary , ofthe Charity. All Trustees give oftheir time freely and no Trustee remun Details ofTrustee expenses are disclosed in Note 2 to the accounts. Trustees |
eration |
eration |
was pa | id in the year. | id in the year. |
|---|---|---|---|---|---|---|---|---|
| The Trustees who served during the period from 1 January 2021 to the |
date this | report | was approved | |||||
| were as | follows: | |||||||
| Name | Nominator | Dates ifpart year: | ||||||
| Chair. | The Rt Revd R Springett | Bishop of Gloucester | ||||||
| Nominated: | Bishop of Tewkesbury Mr EGregory Miss S Kindleysides Mr G Briscoe |
Bath &Wells DBE Bath 8 Wells DBE Bath &Wells DB'E |
To 15June 2021 From 5 November |
2021 | ||||
| Mrs P Dodds | Bath &Wells DBE | |||||||
| Dr P Smith | Bristol DBE | |||||||
| Revd A Everitt | Bristol DBE | |||||||
| Mrs ETownend | Bristol DBE | |||||||
| Mrs J Ridgway Mrs B Gleich |
Gloucester DBE Gloucester DBE |
|||||||
| Mrs J Hunter | Gloucester DBE | |||||||
| Revd J Shellard-James | Bishop of Bath & Wells | |||||||
| Revd DrSTaylor | Bishop of Bristol | |||||||
| Mrs M Lomas | National Society (previously |
|||||||
| Board of Education ofthe |
||||||||
| Archbishops' Council) |
||||||||
| Co-opted: | Miss K Owen-Jones | |||||||
| Officers and advisers ofthe Foundation | ||||||||
| Clerk to the Trustees | Bristol Diocesan Board of Finance Limited Hillside House, 1500 Parkway North, Newbrick |
Road, | ||||||
| Stoke Gifford, Bristol, BS348YU | ||||||||
| Accountant | Bristol Diocesan Board of Finance Limited | |||||||
| Hillside House, 1500 Parkway | North, | Newbrick Road, |
||||||
| Stoke Gilford, Bristol, BS34SYU | ||||||||
| Auditors | Burton Sweet Limited The Clock Tower, Farleigh Court, Old |
Weston | Road, Flax | |||||
| Bourton, Bristol, BS481UR | ||||||||
| Solicitors | Harris 8 Harris 14Market Place, Wells, Somerset, BA5 2RE |
|||||||
| Investment Advisers |
CCLA Investment Management |
Limited | ||||||
| Senator House, 85 Queen Victoria Street, | ||||||||
| London, EC4V 4ET | ||||||||
| Investec Wealth & Investment |
Limited | |||||||
| 30 Gresham Street, London, EC2V 7QN (to27 July 2021) |
| Nole | 202 I Income Reserve Unrest'd f |
202 I Perm't Endow't Rest'd |
202 I Total Funds |
2020 Income Rdtdrve Unrated'df |
2020 Perm't Endow't Rett'df |
2020 Totol Funds |
||
|---|---|---|---|---|---|---|---|---|
| Income and Endowments | ||||||||
| Investment Income |
222,429 | 222,429 | 233,849 | 233,849 | ||||
| Total Income | 222,429 | 222,429 | 233,849 | 233,849 | ||||
| Expenditure | ||||||||
| Cost ofRaising Funds | ||||||||
| Investment Management Costs |
21,923 | 21,923 | ||||||
| Expenditure on |
||||||||
| Charitable Activities |
6 | 320,843 | 320,843 | 314,875 | 314,875 | |||
| Total Expenditure | 320,843 | 320,843 | 314,875 | 21,923 | 336,798 | |||
| Net Gains | ||||||||
| on Investments | 1,129,148 | 1,129,148 | 352,606 | 352,606 | ||||
| Net Income I(Expenditure) | (320,843) | 1,351,577 | 1,030,734 | (314,875) | 564,532 | 249,657 | ||
| Transfers between | funds | 320,843 | (320,843) | 314,875 | (314,875) | |||
| Net movement in |
funds | 1,030,734 | 1,030,734 | 249,657 | 249,657 | |||
| Total funds brought forward |
||||||||
| at 1 January | 8,317,421 | 8,317,421 | 8,067,764 | 8,067,764 | ||||
| Total funds carried | forward | |||||||
| at31 December | 9,348,155 | 9,348,155 | 8,317,421 | 8,317,421 |
| THE FOUNDATION | OF ST MATTHIAS | ||||
|---|---|---|---|---|---|
| BALANCE SHEET | |||||
| For the year ended 3I | December 202 I | 202I | 2020 | ||
| E | |||||
| Fixed Assets | |||||
| Investments CBFFunds investec Wealth |
9 10 |
9,367,755 | 4,760,007 456,713 |
||
| 9,367,755 | 5,216,720 | ||||
| Current Assets | |||||
| Debtors —amounts falling due within one year Cash at bank |
11 12 |
14,600 | 22,893 3,096,064 |
||
| 14,600 | 3,118,957 | ||||
| Current liabilities Grants awarded not paid |
13 | 30,000 | 14,675 | ||
| Creditors —amounts falling due within one year |
14 | 4,200 | 3,581 | ||
| 34,200 | 18,256 | ||||
| Net current assets | (19,600) | 3,100,701 | |||
| Net assets | 9,348,155 | 8,317,421 | |||
| Funds ofthe Charity | |||||
| Permanent endowment funds Unapplied total return fund Unrestricted fund —income reserve |
'f6 16 16 |
7,038,629 2,309,526 |
6,678,016 1,639,405 |
||
| 9,348,155 | 8,317,421 |
| respectively. There were no outstanding amounts at year e |
nd. | , |
|---|---|---|
| 202 I | 2020 | |
| Expenditure on Charitable Activities |
||
| Grants (note 7) Support Costs (nota 8) |
281,419 39424 |
276,735 38140 |
| 320,843 | 314,875 | |
| 202 I | 2020 | |
| Grants | ||
| In 2021 tha Trustees made the following grants: |
||
| Grants fo institutions | ||
| To Bath &Wells, Bristol and Gloucester Dioceses: E50,000 each |
150,000 | 150,000 |
| To Bath &Wells, Bristol and Gloucester Diocases: E6,000each for Further Education Officers |
18,000 | 18,000 |
| 0corporate grant (2020—1)of less than E1,000 4 corporate grants (2020-3)of E1,000or more |
8900 | 500 10500 |
| 176900 | 179,000 | |
| Grants to individuals | ||
| 21 personal grants (2020-17)ofless than E1,000 36personal grants (2020-43) ofE1,000or more 5 scholarship grants (2020-5)ofE1,000 or more Scholars' travel |
11,800 48,270 45,000 |
9,300 51,456 40,000 237 |
| Previous year grants not taken up |
551 | 3,258 |
| 104519 | 97735 | |
| 281,419 | 276,735 |
| For | the year ended 3 I December 20 | 2 I (cont) | ||
|---|---|---|---|---|
| Ig | Movement in Investec Wealth Market value brought forward at 1 Add additions at cost Less disposals at carrying value Add net (loss) / gain on disposal Market value carried forward at 31 |
Investments January December |
202I f 456,713 (454,813) 2 100 |
2020 3,816,987 534,628 (3,614,026) 80876 456,713 |
| Investments -Investec Wealth | comprise | |||
| UK Fixed Interest | ||||
| UK Equities | ||||
| Overseas Equities |
||||
| Property Infrastructures |
456,713 | |||
| 456,713 | ||||
| Debtors | 202I 5 |
2020 t' |
||
| Investment income awaiting payment |
22,893 | |||
| l2 | Cash at Bank | 202I | 2020 | |
| Investec Wealth kiatWest Bank |
14,600 | E. 3,071,887 24,177 |
||
| 14,600 | 3,096,064 |
| , , 14,600 3,096,064 |
, , 14,600 3,096,064 |
, , 14,600 3,096,064 |
, , 14,600 3,096,064 |
, , 14,600 3,096,064 |
, , 14,600 3,096,064 |
||
|---|---|---|---|---|---|---|---|
| The balance held at Investec Wealth from investments sold end pending |
atthe year ending 31December 2020 relates to funds transfer to the CCLA portfolio. |
||||||
| l3 | Grants awarded not yet paid Corporate and Personal grants Scholars |
202 I 8,500 21,500 |
2020j 2,675 12000 |
||||
| 30,000 | 14,675 | ||||||
| l4 | Creditors | 202I 5 |
2020 | ||||
| Investment Management costs |
|||||||
| Recharged Expenses Audit Fees |
4200 | 115 3,466 |
|||||
| 4,200 | 3,581 | ||||||
| Commitments The scholarship awards, sub/ect to satisfactory Within one year. |
review, | will be | paid | 202I as follows: |
2020f | ||
| one term ofacademic year 2022/23 | 16,500 | 12000 | |||||
| Beyond one year. | |||||||
| two terms ofacademic year 2022/23 academic year 2023/24 |
8,500 15000 |
18,000 20,000 |
|||||
| 23,500 | 38,000 |
| eturn un ermanent Endowment was preserved by a Return to the Fund for Investment. |
transfer off380, |
613 from the Un | applied Total |
|---|---|---|---|
| Fund for | Unapplied | Toe I | |
| Investment | Total Return | Endowment | |
| E | F | 8 | |
| As at 1 January 2021 Investment retumi dividends and interest |
6,678,016 | 1,639,405 222,429 |
8,317,421 222,429 |
| Investment management costs |
|||
| Investment return: Gains on investment Recoupment oftrust for investment |
360,613 | 1,129,148 (360,613) |
1,129,148 |
| Unapplied total return allocated to income in the reporting period As at31 December 2021 |
7,038,629 | 320843 2,309,526 |
320,843 9,348,155 |
| Comparative Figures |
Fund for Investment |
Unapplied Total Return |
Total Endowment |
| E | 8 | E | |
| As at 1 January 2020 Investment return: dividends and interest Investment management costs |
6,638,187 | 1,429,577 233,849 (21,923) |
8,067,764 233,849 (21,923) |
| Investment return: Gains on investment |
352,608 | 352,606 | |
| Recoupment oftrust for investment |
39,829 | (39,829) | |
| Unapplied total return allocated to income in the reporting period As at 31 December 2020 |
6,678,016 | 314,875 1,639,405 |
314875 8,317,421 |
| 202I | 2020 | ||
| 6 | |||
| Represented by |
|||
| CBFFunds Investec Wealth Other net current assets |
9,367,755 19,600 |
4,760,007 456,713 3,100 701 |
|
| 9,348,155 | 8,317,421 |