REGISTERED COMPANY NUMBER: 00083122 {En8land and Wales) REGISTERED CHARITY NUMBER: S04682 REPORT OFTHETRUSTEESAND FINANCIAL STATEMENTS REVIEWED BY INDEPENDENT EXAMINATION FOR THE YEAR ENDED 31ST DECEMBER 2023 FOR THE INCORPORATED LEEDS CHURCH EXTENSION SOCIETY Thomas Coombs Limited Chartered Accountants 3365 The Pentagon Century Way Thorpe Park Leeds West Yorkshire LSIS 8ZB THE INCORPORATED LEEDS CHURCH EKfENSION socIErY CONTENTS OF THE FINANCIALSTATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2023 Page Reference and Administrative Details Ito2 Report of the Trustees 3to6 Independent Examiner's Report Statement of Financial Activities Balance Sheet 9tolO Notes to the Financial statements Ilto20 Detalled Statement of Financial Activities 21 THE INCORPORATED LEEDS CHURCH ExfENSION soaErY REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31ST DECEMBER 2023 TRUSTEES th The Rerfd Canon R. E. Hayes (to 9 February 20231 The Ven P. N. Ayers Mr R. J. Butterfield Mrsj. Read Mrs A Smith Mr F. N. Willetts Mr B. Kinsey Mr D. Y. Dredge The Rev'd Canon P.D. Maybury (from 15 February 2023} th CHAIR Re¥/d Canon Paul Maybury PRESIDENT The Rector of Leeds (Rev'd Canon Paul Mayburyl TREASURER Mr D. Y. Dredge COMPANY SECRETARY Mr R. J. Butterfield ELEcfED MEMBERS The Ven P. N. Ayers Mrs J. Read Mr5 A. M.Smith The Re¢d Canon R E Hayes Mr B. Kinsey Mr F. N. Willetts The Rev'd Canon P D Maybury Due to retire 2025 Due to retire 2025 Due to retire 2025 th Resigned 9 February 2023 Due to retlre 2026 Due to retire 2024 PATRON The Bishop of Leeds lThe Rt Re¢d Nick Bainesl Page I THE INCORPORATED LEEDS CHURCH ExfENSION SOCIETY REFERENCE AND ADMINISTrATIVE DETAILS FOR THE YEAR ENDED 31ST DECEMBER 2023 REGISTERED OFFICE Leeds Minster Kirkgate Leeds L52 7DJ REGISTERED COMPANY NUMBER OLh)83122 (England and Wales) REGISTERED CHARITY NUMBER 504682 INDEPENDENT EXAMINER Christopher Darwln FCA Thomas Coombs Limited Chartered Accountants 3365 The Penta8on Century Way Thorpe Park Leeds West Yorkshire LS15 8ZB SOLICITORS Wrigleys Sollcltors LLP 19 Cookridge Street Leeds L52 3AG PRINCIPAL BANKERS CAF Bank Ltd 25 Kln8s Hlll Avenue Kings Hill West Malling Kent ME19 4QJ INVESTME￿ MANAGERS CCLA One Angel Lane London EC4R 3AB Page 2 THE INCORPORATEO LEEDS CHURCH EXTENSION soaETY REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2023 The Trustees. who are also directors of the tharity for the purposes of the Companies Art 2CQ6. present their report with the financial statements of the charity for the year ended 31st December 2023. The trustees have adopted the provisions of Accountin8 and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Flnanclal Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021 (effective l January 20151. OBJEcfivES AND ACTIVITIES Objectives and alms The main objects of the Society are to aid further and extend the work of the Church of En8land in the Archdeaconry of Leeds, namely to help provide or obtain the flnance for mission halls and new parish churches and vicarages, assist wlth the stipends of both clergy and lay worker5, and help malntain and re-order churches and church halls,. In addltlon 8rants are made to church community and similar outreach activities within the Archdeaconry of Leeds. Slgnfflcant a¢tyvitles All applications are carefully examined to ensure they fall wlthln the objerts of the S¢xiety. In considering applications for grant aid from parishes and other Anglican bodles. the Committee seeks to achieve a balan￿ between the needs of each applicant, the resources and expected fvnd ralsing of each applicant, and the funds currently available within the Society. Applicants are requlred to give full information to enable the Souety to allocate the income available for grant ald in as fair and helpful a way as p05sible. The capltal of the trust pertaining to The Leeds Universities. Anglican Chaplaincy Fund (formerly the Leeds Emmanuel Institute Fund) arises from the sale of Emmanuel Institute and is held prEmarily to complete the re-orderin8 of Emmanuel Church and any further work of a capital nature needed to asslst the work of Anglican chaplains within the two universities. The income from the remaining capitsl is applled In accordance with the terms of the trust, namely the support ofAnglican Ministry based on the Emmanuel Chaplaincy centre. Publlc benefft In accordance with their duties pursuant to Section 4 Charities Act 2006, the Trustees have consldered the CharitVs objects and artlvltles in the light of the Charity Commission's general guidance on public beneflt "Charities and Publlc BenefTV. In relation to the first limb of the public benefit test Set out in the guidance, the objects are defined in the Memorandum of Association and the Trustees are satisfied that each of these Is of benefit to the public. In relation to the second limb of the test. the Trustees ensure that the public at large benefit from the activities of the Charity and that there Is no private benefiL incidental or otherwise. The Trustees regularly keep the activltles of the Charity under revlew. to ensure that they are of sufficient benefit to the public. ANNUAL REVIEW Trustee￿ Report Following a number of challengin8 years, 2023 offered more stability for LCES actlvity. Grant applications have increased on the back of risin8 visibility for LCES among churches in the Leeds Episcopal Area and progress is bein8 made on a number offronts. The grants polity of the sodety has been the focus of much discussion, both in terms of the scale of our grants and the nature of the initlatlves that we support. Given high overall levels of inflation peaking at 11.2% in Ortober 2022, ener8Y prices reachlng record highs and rising Costs associated with the building industry, LCES has taken a more flexible approach to its Brant giving, raisin8 its nominal cap from £6,OC(I to £I0,C￿) per project Pa8e 3 THE INCORPORATED LEEDS CHURCH EKfENSION SOCIETY REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER2023 TRUSTEES, REPORT (convd Trustees have also been exploring other ways in which its 8rants can support the mlsslon of the church. Rather than limiting the work of the society to small building repair grants, conslderatlon Is now bein8 given to provlding revenue grants where there is a clear developmental oblective. At Christchurch Amiley, the £6,000 award made in 2021 towards building repairs remalned unspent due to limitations on the capacity of the church to fundr3i5e for the remainder of the project costs. In February 2023, LCES trustees a8reed a request to repurpose this award to pay professional fundralsers to help the church to revlew the scope of its fundraising efforts and to make applications to a range of fund-awardln8 bodles.This work is Still in progress and the trustees will use evaluation of this experlence to Inform future 8rants policy. Improved links with the Leeds Diocese actlvltles have also been pursued with a view to achievln8 a more informed and coordinated approach to grant 8ivin8. Lis? Mdntyre from the Leeds Dlocese attended the trustee5 meeting In February. She confirmed that the Leeds Diocese intends to apply for one of the 20 church support officers that are being funded aeross the 40 dioceses. Thls application was successful with Alena-Rose Douglas being appointed at the end of the year. The post is associated with the Buildings for Mission fund which will offersmall building grants to churches in the Diocese over the following two years. We also welcomed the Reverend Jude Smlth to out meetlng In November, learning about the Barnabus Project. This initiative has a package of mlsslon-focused and or8anisational support workin8 across churches. Management of our resources is essentlal for good stewardship and to ensure that we have the funds available to disburse to churches. Work has continued to streamline our activities wherever possible. given the range of different resources which remaln within our portfolio. This work has continued under the direction of ourTreasurer, and hls work on our property and financial holding is summarised in hls report. The Leeds Church Extension Society relies on the work of Its honorary officers, cler8y and trustees who give their time to support the on-goin8 mission of the church In Leeds. We value the service that they give, Informing our activities, administerin8 grants, managlng our Investments and administering our land holdings. This work complements the voluntary efforts of church wardens and congregatlons who maintain the worship life of the church and their building5 as well as the servlce of our colleagues in the Diocese of Leeds. Richard J. Butterfield (Company Secretary) FINANaAL REVIEW Flnanclal posltlon Thesociety reports a surplus of income overexpenditure forthe year ended 31rt December 2023 in the sum of £23,760, 12022: £13,134), Grants totallin8 £20,000 were awarded duringthe year. Investment income was marginally better than the previous year, ond the value of investments held rose by £137,050. While thi5 recovery in value is to be welcomed, it Still leaves the valsje of investments £54,202 less than it was in 2021. At the end of 2023, the Societ￿$ assets were £160,810 greater than the previous year. Investment pollcy and objectlves The management of investments by CCLA continue5 toworkwell forthe Society with the assurance of Complian￿ with Angli￿n ethical investment policy. Fund rationalisatlon With banking and investment procedures simplified and regularised, the Society is now in a p051tion to detemiine how the multitude of Funds was set up and whether restrictions placed upon them by the Society is still appropriate to its current aims and objectives. Continued next page... Page 4 THE INCORPORATED LEEDS CHURCH EXTENSION 50CI REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEM8ER 2023 FINANCIAL REVIEW Iconfd) Continuedfrom previou5 poge... Restricted Funds that do not support those aims and objectlves will be examined to see whether they would be better administered by other charltles better able to fulfil the restrictions imposed by their being placed in Trust to the Society. Grant makin8 poIIcy This continues to be evaluated as larger grants are allocated to fewer projects. A further experlmental Brant to cover the cost to a church of employing 3 Fundralser Is belng closely watthed In order to determine whether thi5 may be an effective future means of fundlng larger scale development work otherwise outside the scope of LCES funding capacity. Reserves pollcy The capital funds of the Society are the result of the giving and endowment of parishe5 and individuals slnce the formation of the society in 1864, especlally by those whose names are associated with specific trusts. The Soclety relles on the Income from the investment of these endowments as the major source of funds wlth which to assist current and future applications for grant ald, The Income of the March and Pitts trusts are restricted to certain parishes. Most of the accumulated March Trust income has been disbursed in the form of grants to three of the beneficiary churches over the last couple of years. Only a small amount of income is therefore available from the investment of the capitsl. The current policy concerning legacies is that those under £IO,C(JO are. unless the terms are to the contrary, regarded as available for the general purpose5 of the Society in the year of receipt. Legacles of £10,000 and over are. unless the tem)s are to the contrary, are currently regarded as capltsl. and Invested as such. Land and Bulldlngs This drawn out process contlnues to feature as a standin8 agenda item but is on the cusp of re501ution at the close of 2023. It is sincerely hoped that anticipation of a conclusion durin8 2024 will not be disappointed. The holdings were not valued in the accounts but the committee believe that the market value was significantly in excess of the carrying value but in the absence of a current value, this could not be quantified. STRucfuRE, GOVERNANCE AND MANAGEMENT Governlng document The Incorporated Leeds Church Extension Society (The Society) is a company, limited by guarantee, belng incorporated on 4 January 1905 and as such, its governing document is the Memorandum and Article5 of Association. Charlty constltutlon The Society was Incorporated Inter alio to take over the assets and liabilities of the former unincorporated societie5 of thesame name, 0ri8inally formed in 1864. Subjert to the Memorandum and Articles of Association, the Societws affairs are conducted in accordance with the guidelines and Standing Orders adopted on 27th Marth 2012, amended 4th November 2014. As the Company is a company limlted by guarantee no shares are In Issue and accordlngly, there are no share interests to be disclosed. Page 5 Tllt INCORPORATED IEETrS CNUftCH EXTENSIONSQCIETY REPORT QF THE TAU57EES F(XiTHE YEAII £NUED 31ST DEC£M8ER 2023 SThUCTURE, GOVERNANCE AND MANAGEMENTlconfd) rtmertand Re¢rvitrnertt of NowTrt7stees NEW cL>mMittc￿ m£.mbers arè rwuit•d tho Fws¢)fi¥l rocommerdaiion af existinB meTnbeis and viho hdlVQ d sulplusor d•ficltf¥r each&)anrwl y￿1 inar¢orddntt with the r•quIreM￿ls cf SEtrion$ 394•ol 395 ¥￿WIl¢bOthE￿VI$e ccffjrtp￿￿h the. rtquiwnvni$ 01thpcthm￿n￿1￿C1 2W rdarlnG*c finJnc*J1 Ittten￿ts yi l•ri1%Kppf*AtA* inihp rhATitable Lrinporw. stattmcnt? bEth •repèred Inawrdawo lh¢ ¥¢￿￿ pr￿$r￿*S al Isof thlb CnmpafftiP5 Ihq firwn¢W*toternents wery avpfoved ￿thE Board of Tntstoeson 22WJuly2024 and w¥e51kmeé on rts ￿￿011 ty. Qingn 14oybvry- Chèil "¢hArd l. F3utterfdd Si*retary 0￿j Y. Dred8e. Treasur8T The notes form part of these"Inancial stètoment5 P¢e 10 THE INCORPORATED LEEDS CHURCH EXTENSION SOCIETY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2023 ACCOUNTING POLICIES Basis of preparlng the financial statements The financial statements of the charitable company, which is a publlc beneflt entity under FRS 102, have been prepared in accordance with the Charitles SORP IFRS 102) 'Actounting and Reporting by Charities: Statement of Recommended Practice appllcable to charities preparing their accounts in accordance with the Financial Reportlng Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective l January 20151,, Financial Reportin8 Standard 102 'The Financial Reporting Standard applicable Sn the UK and Republic of Ireland, and the Companies Act 2006. The financial statements have been prepared under the historical cost convention with the exception of investments which are Included at market value, as modlfled by the revaluation of certain assets. The financial Statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at falr value. The financial statements are presented in sterlin8 which is the funrtional currency of the charity and rounded to the nearest £. The signlflcant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwlse stated. Flnanclal reporting standard 102 - reduced dlsclosure exemptions The charity has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 'The Financial Reportin8 Standard applicable in the UK and Republic of Ireland,: the requirements of Section 7 Statement of Cash Flows. Income Voluntary income Voluntary income is received by way of subscriptions, donatlons and glfts, legacies, and contributions and is credited to the accounts on a receipts basls. All Income Is included 8ross in the financial statements. Investsment Incorne Bank Interest Is Included in the SOFA on receipt. Dividends and other interest are included in the SOFA account on receipt includin8 any appropriate tax credit. Expenditure Liabilities are recognised as expenditure as soon as there Is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headln8S that a88regate all cost related to the category. Where costs cannot be directly attrlbuted to partlcular headings they have been allocated to activities on a basis consistent with the use of resources. Grants payable are accounted forwhen they are awarded. Anygrants remainlng unclalmed at the year-end are accounted for as creditors. The Charit(s grant policy is as dlsclosed In the Committee of Management Report. All grants are payable in furtherance of the Charlty's objectlves. Support costs Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs and governance costs. They are incurred directly in support of expendlture on the objects of the charity. The notes form part of these financial statements Page 11 THE INCORPORATED LEEDS CHURCH EKfENSION SOCIETY NOTES TO THE FINANCIAL STATEMENTS- CONTINUED FOR THE YEAR ENDED 315T DECEMBER2023 ACCOUNTING POLICIES- Contlnued Herltage assets The Society has. in its ownership, land and buildings, These assets have not been included on the balance sheet since reflecting their nature, legal and historical past it Is consldered not practical or possible to obtain valuations of these assets. Steps have been taken to transfer these assets to the respective parishes but the legal processes involved have become somewhat protrarted. The Soclety holds the followlng properties that are not valued in the accounts: General purposes: Parish of Halton, St. Wilfrid.. Parish of Ireland Wood, St Paul: Parish of Eplphany, Gipton: land adjoinin8 the Church land adjoining the Church land adjoining the Church Custodlan trustee.. Parish of Potternewton, St. Martin.. St. Martin's Institute ParSsh of Roundhay. SL Edmund: land adjoining the Church Taxation The charity is exempt from corporation tax on its charitable actlvitles. Fund accounting Unrestrlcted funds can be used In accordance with the charitable objectives at the discretion of the trustees. Restrlcted funds are those which can only be used for particular restricted purposes within the objects of the charlty- These are either those that are donated for specific purposes or are income 8enerated by endowment funds bound by a restriction to given purposes. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Pemianent endowment funds are transactions and other events. except investment revaluations. which increase or decrease the amount of permanently endowed funds are dealt with in the ststement of financial artivitles. Further explanatlon of the nature and purpose of each fund 15 induded in the notes to the financial statements. Investments Long term investments are classified as fixed assets. Fixed asset Investments which are listed on a reco8nised stock exchange are valued at their market value at the year end. Dlfferences between market value and original cost are disclosed in the statement of investment galns and transferred to the balance sheet. Profit and losses arising on the disposal of Investments are disclosed in the statement of investment gains and transferred to the balance sheet. Any gifted Investments are recognised at their market value at the time of the gift. Credltors payable wlthln one year Creditors with no stated interest rate and payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure. Status The Society is a company limited by guarantee, formed in 1905 otherwise than for profit, exempt from the requirement to use the word 'limited' and re8lStered as a charity. The liability of eaeh member is restrlrted to £0.50. The notes form part of these financial statements Pa8e 12 THE INCORPORATED LEEDS CHURCH EXTENSION SOCIETY NOTES TO THE FINANCIAL STATEMENTS- CONTINUED FOR THE YEAR ENDED 315T DECEM8ER 2023 INVESTMENT1fr4COME 2023 2022 Dividends Deposit account Interest 43,564 1.718 43,408 375 45,282 43,783 CHARITABLE AcnvmES 2023 2022 Parochial contributions 675 The total parochial contributions during the year were as follows.. 2023 2022 Barwick, All Saints Meanwood HolyTrinity Swillington St Mary 200 50 125 500 675 200 400 CHARITABLE AcfiviTIES COSTS Grants awarded Support Costs (See note 5) (See note 6) Totsls Costs incurred on charity's objects Support Costs 20,1)LXJ 20,1)00 1,922 1,922 20.000 L922 21,922 The notes form part of these financial statements Page 13 THÉ INCORPORATED LEEDS CHURCH EXTENSION SOCIETY NOTES TO THE FINANCIAL STATEMENTS- CONTINUED FOR THE YEAR ENDED 31ST DECEMBER 2023 GRANTS AWARDED The total grants awarded during the year were as follows.. 2023 2022 Unrestrlrted Restrirted Funds Fund5 Total Funds Cookridge, Holy Trinity Leeds All Hallows University Chaplalncy Garforth St Mary Cross Green St Hilda 11,000 18.000 333 10.000 10,000 zo,000 10.000 10.000 20,000 29.333 SUPPORT COSTS Other Support costs 1,922 Support costs, induded in the above, are as follow5.. 2023 2022 Support Costs Support costs Web hosting and Domain Independent examinerfs fee Independent examinerfs fee- prior year under provision Bank charges Portfolio management Other expenditure 236 1,350 276 1,350 120 105 232 1,922 1,991 The notes fonn part of these financial statements Page 14 THE INCORPORATED LEEDS CHURCH EXTENSIOl+J SOCIETY NOTES TO THE FINANCIAL STATEMENTS- CONTINUED FOR THE YEAR ENDED 31ST DECEMBER 2023 INDEPENDENT EXAMINER'S REMUNERATION The independent examinerfs remuneration amounts to an independent examlnatlon fee of £1.626 12022: £1.470). TRUSTEES, REMUNERATION AND BENEFITS The key management personnel of the tharity comprise the committee lincludin8 the Chair, the Treasurer and the Secretary) of The Incorporated Leeds Church Extension Society. The total employee benefits of the kev management personnel of the Charity were £nil {2022: £nill Trustees. expenses Committee expenses reimbursed for the year ended 31st December 2023 amounted to £Nil12022- £231 were reimbursed to one trustee12022'. one trusteel. sfAFF COSTS The staff costs for the year ended 31" December 2023 amounted to £nil (2022". £nil). The average monthly number of employees during the year was as ft>llows: 2023 2022 Trustees No employees received emoluments in excess of £60,LK)O. The notes form part of these financial statements Page 15 THE INCORPORATED LEEDS CHURCH EKfENSION SOCIETY NOTES TO THE FINANCIAL STATEMENTS - CONTINUED FOR THE YEAR ENDED 31ST DECEMBER2023 io. PRIOR YEAR COMPARABLE STATEMENT OF FINANCIAL AcrivtnES- 2022 UnrestrirtÈd funds Restrlcted funds Endowment funds Total funds INCOME AND ENDOWMENTS FROM Donations and legacies Charitable artivities Incoming resources from charitable activities 675 675 Investment income Other income 29.523 14,260 43.783 Total 30.198 14260 EXPENDITURE ON Charltable actlvitles Support Costs Costs incurred on charity's object5 L759 29J>DO 232 1,991 29.333 333 Total 30,759 333 232 31,324 Nel 8alns/(losgesl on Investments 198,280 10.8621 (82,110) 1191.252) NET INCOME (98Wi) (82,342) 1178.118) Transfers between funds Net movement In funds 198.841) 3,065 {82,3421 (178,118) RECONCILIATION OF FUNDS Total funds brought forward 849.990 107,515 711,584 1,669,089 TOTAL FUNDS CARRIED FORWARD 751,149 110,580 629,242 1.490.971 The note5 form part of these financial statements Page 16 THE INCORPORATED LEEDS CHURCH EXTENSION SOCIETY NOTES TO THE FINANCIAL STATEMENTS- CONTINUED FOR THE YEAR ENDED 31ST DECEMBER 2023 ii. FIXED ASSET INVESTMENTS Listed imiestments Totals MARKET VALUE At 1st January 2023 Additions Disposals Revaluations IN56,687 IA56W7 ia7.050 137.050 At 31st December 2023 1.593.737 1,593.737 NET BOOKVALUE At 31st December 2023 I￿93,737 1.593.737 At 31st December 2022 IN56,687 IA56,687 At 31st December 2023 no individual investment fund represented more than 5% of the total investment portfolio valuation. The historical cost at 31st December 2023 is £1,343,73812022: £1,343,738). 12. CREDITORS: AMOU￿5 FALUNG DUE WITHIN ONE YEAR 2023 2022 Grants awarded but not yetclaimed Other creditors Accrua15 and deferred income 13,000 14 6,000 14 1.350 14.502 7,364 The notes form part ofthese financial statements Page 17 THE INCORPORATED LEEDS CHURCH ExfENSION SOCIErY NOTES TO THE FINANCIAL STATEMENTS- CONTINUED FOR THE YEAR ENDED 31ST DECEMBER 2023 13. MOVEMENT IN FUNDS Net movement in funds Transfers between funds At 111123 At 31112123 Unrestricted funds General fund 751,149 79,103 (16) 830236 751,149 79,103 116) 830236 Restrlcted funds University of Leeds An81ican Chaplaincy Mlss E G Hudson William Hammond Bartholomew William Pltts Misses C & R E Marth (Holbeckl Misses C & R E Mard) IAII Souls) Mlsses C & R E March Iwoodhousel Misses C & R E March Iwortley) 61,975 4,679 25,611 2.053 8,076 2225 .106 1555 74m9 6,242 31fi20 2,627 9257 2￿5 574 38 762 5354 6.116 110,580 22,505 16 3.101 Endowment funds University of Leeds Anglican Chaplaincy Miss E G Hudson William Hammond Bartholomew William Pitts Philip Simpson Mlsses C & R E March (Capital) 186.915 17,586 3.781 10,661 1,265 22.738 3,171 204,5(XI 43.964 123,978 14,713 264fv19 36070 113,317 13,448 241,681 33,699 629,242 59202 688,444 TOTAL FUNDS IA90,971 160,810 1,651,781 Net movement in fund5, included in the above are as follows.. The notes form part of these financial statements Page 18 THE INCORPORATED LEEDS CHURCH EXTENSION SOCIETY NOTES TO THE FINANCIAL STATEMENTS- CONTINUED FOR THE YEAR ENDED 31ST DECEMBER 2023 13. MOVEMENT IN FUNDS Incomlng resources Resources expended Galns and Movement in funds Unrestrirted funds General fund 30,925 (21,922) 70,100 79.103 30.925 121.922) 70.100 79.103 Restrirted funds University of Leeds Anglican Chaplaincy Miss E G Hudson William Hammond Bartholomew William Pitts Misse5 C & R E March IHolbeck} Misses C & R E March IAII Souls) Misses C & R E March Iwoodhousel Misses C & R E March Iwortleyl 7.627 IJTA 4258 475 4A79 178 1.751 99 673 142 12.106 1.555 6.009 574 138 38 762 336 426 14.757 7,748 22￿5 Endowment funds University of Leeds Anglican Chaplaincy Mis5 E G Hudson William Hammond Bartholomew William Pitts Philip Simpson Misses C & R E March (Capitsll 17.586 3.781 10,661 1.265 22.738 3.171 17,586 3.781 10,661 1265 22.738 3.171 59202 59202 TOTALFUNDS 45.682 (21,922) 137050 160,810 The notes form part of these financial statements Page 19 THE INCORPORATED LEEDS CHURCH EXTENSION SOCIETY NOTES TO THE FINANCIAL 5TATEMENTS- cof4TINUED FOR THE YEAR ENDED 31ST DECEMBER 2023 13. MOVEMEKf IN FUNDS- continued Endowment funds are: University of Leeds Anglican Chaplalncy: thls Is a permanent endowment fund to be administered by the Society. Income from capitsl is to be used for the support of Anglican Ministry based on Emmanuel Chaplaincy Centre. Mlss E G Hudson: this is a permanent endowment fund to be used to augment the stipends of Assistant aer8y {usually through the Diocesan Stipends Fund). William Hammond Bartholomew: thi5 15 a permanent endowment fund, income from which may only be disbursed to parishes in the old Rural Deanery of Leeds, with a limit of £l.IJCMJ for any scheme. Wllliam I￿. this is a permanent endowment fund. the income from which is restricted to the parishes of Hunslet and Mlddleton St. Cros5. Philip Simpson: thls Is a Permanent Endowment fund to be used for the general purposes of the Soclety. Mlssesc & R E March: this is a permanent endowment fund originally forthe support ofAssiStant Curates in the parishes of Camp Road, Holbeck. Woodhouse, and Wortley. The Church Commissioners have agreed that funds may be used for wider purposes in the parishes of Leeds, All Souls- Holbeck, St. Luke: Woodhouse and Wrangthorn, St. Augustine,. and Wortley-de-Leeds. St. John the Evangelist. Committee approval is needed to draw on the accumulated income allocated to each parish. ULTIMATE CONtROLLING PARTY The Charity is controlled by the Management Board with no one indtvidual havin8 ultimate control of the entity. The notes form part of these financial statements Page 20 THE INCORPORATED LEEDS CHURCH ExfENSION SOCIETY DEfAILED STATEMENT OF FINANCIAL AcrivmES FOR THE YEAR ENDED 31ST DECEMBER 2023 2023 2022 Investment Income Dividends Deposit account interest 43,564 1.718 43.408 375 45,282 43,783 Charitable activities Parochial contribution5 400 675 400 675 Total Incomlng resources 45,682 44,458 EXPENDITURE Charitable artivities Grants awarded 29,333 20.000 29,333 Support costs Web h05ting and Dornain Independent examinerfs fee Independent examinerfs fee.. prior year under provision Bank char8e5 Investment Costs 236 1,350 276 1,350 120 105 232 1222 1,991 Total resources expended 21,922 31.533 Net inttmne before investment gains 23,760 13,134 The notes form part of these financial Statements Page 21