# ## ## ## |||||||Vnmstrlcted|Designated|Funds Restrkted|Funds|Endownments|Total Funds 2020|Total Funds 2019| |---|---|---|---|---|---|---|---|---|---|---|---|---| |||||||Funds||||Funds||| |Incoming|Resources|||||||||||| |Investments||||||||||||| ||||||||||34,624||35,323|34,523| ||||||2b||||||3,500|3,869| |||||Total||||||||| ||||||||||38,024||38,823|38,192| |Resources|Expended|||||||||||| |Charitable|Activities|||||||||||| ||||||||||||31,690|37,522| |||||Total||||||||| ||||||||||30,891||31,690|37,522| |Net Movements||Before||||||||||| |Revaluations|||||||||7,132||7,132|870| |Net gam/(losses)||on investment||||||||||| |||||||||1,806|63274||65,079|190,387| |Net gain/(losses)||on properly||||||||||| ||||||||||||28,129|| |Net Movements||in the|Year|||||||||| |||||||||||||191,057| |Total Funds brought|||forward|(1st||||||||| |Jan)||||||||26,255|1,158,284||1,184,539|993,481| |Total Funds carried forward||||(31st||||||||| |Dec)|||||||||1,256,819||1,284,880|1,184,539| ## |Balance Sheet||||| |---|---|---|---|---| ||||Total 2020|Total 2019| |Fixed Assets||||| |Investment
Assets||5(a)|1,148,474|1,083,395| |Tangible Assets||5(b)||86,204| ||||1,234,678|1,169,599| |Current Assets||||| |Sundry Debtors||||| |CBFdeposit fund|||90,461|47,021| |Cash|||30,330|34,514| ||||120,791|81,535| |Liabilities due in one year||||| |Creditors|||(70,588)|(66,594)| |Net Current Assets/(Liabilties)|||50,202|14,941| |Total Nst Assets|||1,284,880|1,184,540| |Represented
by|||2020|2019| |Unrestricted
Funds||||| |Designated|||28,061|26,255| |Restricted
Funds|||1,256,819|1,158,284| ||Total||1,284,880|1,184,539| ## ## ## ## |||||Unrestricted|Designated|Restricted|End|ownm ant|Total Funds|TotalFunds| |---|---|---|---|---|---|---|---|---|---|---| |||||Funds|Funds|Funds||Funds|2020|2019| |Investments|||2a|||||||| |Dividends||||||34,251|||35,037|33,702| |Bank Interest|||||13|273|||286|822| ||||||799|34,524|||35,323|34,523| |Other|||2b|||||||| |Rent Receivable||||||3,500|||3,500|3,669| |||Total|||799|38,024|||38,823|38,192| |||||Unrestricted|Designated|Restricted|Endownment||Total Funds|Total Funds| |EXPENDITURE ON:||||Funds|Funds|Funds||Funds|2019|2019| |Charitable
Activities|||3b|||||||| |Grants towards|Supporting|Ordinands||||20,062|||20,062|19,125| |Grants towards|Ministerial|Education||||6,688|||6,688|6,375| |Theological
Library Resources|||||799||||1,596|1,563| |Other Grants||||||2,697|||2,697|9,829| |Support Costs -|Administration|||||||||630| |||Total||||30,891|||31,689|37,521| ## ## ## ## ## ## ## ## |General
Unrestricted
Funds|Designated
Funds|Restricted
Funds|Endownment
Funds|Total| |---|---|---|---|---| |||||86,204| ||28,062|1,120,412||1,148,474| ||753|120,038||120,791| ||(754)|(69,834)||(70,588)| ||28,061|1,256,820||1,284,880| |Reserves|Incoming|Resources|Investment|Reserves| |---|---|---|---|---| |at|Resources|Expended|Gains ILosses|at| |1Jan||||31Dec| |26,255|799|(799)|1,806|28,061| |263,869|4,803|5,110|20,429|283,991| |520,115|21,266|19,410|52,383|574,354| |374,299|11,955|6,371)|18,590|398,473| |1,158,284|38,024|(30,691)|91,402|1,256,819| |1,184,539|38,823|(31,690)|93,208|1,284,880| ## ## |Section|A|Reference and Administration|Details| |---|---|---|---| |Section|B|Structure, governance
and Management|| |Section|C|Objectives and Activities|| |Section|D|Achievements
and Performances|| |Section|E|Financial
Review|| |Section|F|Optional
information|| |Section|G|Trustee Declaration|| ## |Description ofthe charity's trusts|Description ofthe charity's trusts|Description ofthe charity's trusts|Description ofthe charity's trusts|Description ofthe charity's trusts|Description ofthe charity's trusts|||| |---|---|---|---|---|---|---|---|---| |Type of governing
document
**(**
**t**
t **d**
d
tit t
eg. rust
eed, constitution)||||||)|Following the closure ofthe Theological
College, a Charity Commission
Scheme
dated 15November
1985,which combines ten former charities into four distinct
categories, governs the Trustees:|| ||||||||1. General Purposes: - for assistance
in further
religious educational|| ||||||||purposes|| ||||||||2.
Expendable
Fund: - where capital and income may be expended
for the|| ||||||||education of persons who are resident
in the area ofbenefit who are|| ||||||||undergoing
training to enter the priesthood ofthe Church of England|| ||||||||3.
Capital Fund: - where income only may be applied towards
assisting|the| ||||||||Continued
Ministerial
Education
in the area of Benefit|| ||||||||4.
Meynall
Ingram Fund: - which is a designated
fund to be used towards|| ||||||||the purchase ofbooks etc.to assist with training.|| ||||||||The Area ofbenefit is defined
by the definition ofthe Diocese ofLichfield as at|| ||||||||present constituted
together with those parts ofthe Diocese of Birmingham|and| ||||||||Diocese of Derby, which,
in 1872,formed part ofthe Diocese of Lichfield.
In|| ||||||||addition
since the transfer of Himley Deanery
in 1994to the Worcester Diocese,|| ||||||||this also forms part ofthe Area ofBenefit.|| |How the charity is constituted
(eg. trust, association,
company)||||||)|Charity Commission
Scheme —15November
1985|| ||Trustee selection||||methods|||| |(eg. appointed|||by,|elected by)|||In accordance
with the aforementioned
Charity Commission
Scheme, there are
eight ex officio trustees.
In addition there must be no less than four nor more|| ||||||||than eight co-opted trustees. Co opted trustees
shall be appointed
for a term|of| ||||||||five years, based on residence, occupation or employment
or otherwise
have|| ||||||||special knowledge
ofthe area ofbenefit.|| ||||||||The Co-opted trustees are due for re-election
in July 2022|| |Public Benefit Statement
(Mandatory|||||||information)|| ||||||||The trustees ofthe Charity are aware ofthe Charity Commission's
guidance|on| ||||||||public benefit
in The Advancement
of Religion for the Public Benefit and have|| ||||||||had regard to it in their administration
ofthe Charity. The trustees
believe that,|| |Summary|ofthe main||activities||||the main purpose ofthe charity
isto offer financial support for those|| |undertaken
for the public benef(t
in relation to these objects
(include within this section the|||||||undertaking
training
into the priesthood
ofthe Church of England,
and also to
offer support
in encouraging
the persons concerned
in further
religious
education
meets the Public Benefit criteria.|| |statutory|declaration||that||trustees|||| |have had|regard to the guidance|||||||| |issued by|the Charity||Commission|||||| |on public|benefit)|||||||| ## |||The main purpose ofthe charity
isto offer financial support for those|| |---|---|---|---| |Summary of|the objects ofthe|undertaking
training
into the priesthood
ofthe Church of England,
and also|to| |charity set out in its governing||offer support
in encouraging
the persons concerned
in further
religious|| |document||education.|| |||a
~
~|| |||The charity aims in any particular
year to maximise the income to offer as|| |||much financial
support to the area oftraining
is possible without
damaging|the| |||capital and future ofthe charity.|| |||During the last twelve months the Trust has managed to award E26,750(2019:|| |||E25,500)to the training ofOrdinands
(including
Continual
Ministerial|| |Summary ofthe main
achievements
ofthe charity
during the year||Development),
and awarded
E2,697(2019:E9,829)to individuals
and
Deaneries to assist them with developing
their educational
requirements.
In
addition
a grants ofE1,598(2019:E1,562)was allocated towards Theological
Library Resources for the purchase of books and other study material.|| ||||||Reserves Policy||| |---|---|---|---|---|---|---|---| |Briefstatement|||ofthe charity's||||| |policy on reserves|||||In light ofthe objectives ofthe charity,
it is important
to have|a relatively|| ||||||substantial
reserve base to generate
increasing
levels of income to continue the||| ||||||support offered to the areas ofbenefit. However,
this means dividing the||| ||||||reserves between
income and capital. It is not the intention ofthe trustees to||| ||||||develop significant
income reserves, but expend the income generated
within||| ||||||any twelve-month
period||| ||||||In respect ofcapital reserves, this is fluctuated
by the capital movements||ofthe| ||||||charitable
investments.
In recent years the reserves have seen|significant|| ||||||increases
in capital values on the Global Stock Market sandwiched
between||| ||||||significant declines.
The trustees
remain satisfied
in these volatile markets to||| ||||||have the correct balance on capital investments
and reserves,|with increased|| ||||||income above expectation.||| ||||||It is believed that the reserves
level at present
is adequate
to support the||work| ||||||ofthe charity, and the structured
reduction
in income reserves|is also beneficial|| ||||||to the charity and its aims and objectives.||| |Further financial|||review details (Optional
information)||||| ||||||Financial
Review||| |You may choose to include|||||In the twelve months to 31December 2020there was a surplus|ofE7,132|| |additional
information,
where|||||(2019:Surplus E670) in day-to-day
activities.||| |relevant about:|||||||| |~|the charity's||principal sources||Ordinary
generated
income increased
from E38,192 in 2019to|E38,823 in|2020.| ||offunds (including|||any|Overall Investment
income (declaration
ofdividends)
remained|stable despite|| ||fundraising);||||continued
low level ofinterest rates created by the well-publicised
global||| |~|how expenditure|||has|economic situation.||| ||supported|the key||objectives of|||| |~|the charity;
investment||policy|and|Investment
Policy||| ||objectives
investment|including
any ethical
policy adopted.|||The trustees
have continued
to review investments
in order to
dividends
and other sources of income without
compromising|try and raise
capital growth.|| ||||||The investments
are with
CCLA and follow the Ethical investment
Policies||ofthe| ||||||National
Church.
In the year the performance
saw a further 5.79%capital||| ||||||growth (8.11%Growth
in 2019)||| ## ## |Signature(s)|| |---|---| |Full name(s)|Diane Holt| |Position|Secretary to the Trustees| |(eg Secretary, Chair, etc)|| |Date|16October 2021| |(eg. Date ofthe APCM)|| ## ## ## ## ## ##