2021-03-31-accounts - St Peter's, Saltley Trust

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

			Page
Report ofthe	Trustees		1to 14
Independent	Examiner's	Report	15
Statement of	Financial Activities		16
Balance Sheet			17
Notes to the Financial Statements			18to 29

							2021	2020
				Unrestricted	Restricted	Endowment	Total	Total
				fund	Fund	Fund	funds	funds
			Notes	E	E	E		E
INCOME AND
ENDOWMENTS FROM:
Investment Income			2	138,261			138,261	139,347
Charitable activities			3	7,904	18,953		26,857	40,952
Total income and endowments				146,165	18,953		165,118180,299
EXPENDITURE ON:
Raising funds								6,261
Charitable activities
Grants payable			6	51p331	19,530		70,861	89,983
Support costs			7	71,858		2,090	73,948	73,975
Governance costs			8	18,434			1$,434	18,673
Tota I expenditure				141,623	19,530	2,090	163,243	188,892
NET
(EXPENDITURE)/INCOME				4,542	(577)	(2,090)	1,875	(8,593)
Other recognised	gains
Gains/(losses) on	investment
assets				42,236		664,740	706,976	(71,388)
Net Movement in	funds			46,778	(577)	662,650	708,851	(79,981)
Transfers between	Funds			6,999	(6,999)
				53,777	(7,576)	662,650	708,851	(79,981)
RECONCILIATION OF		FUNDS
Total funds brought		forward		732,773	7,576	3,266,966	4,007,315	4,087,296
TOTAL FUNDS CARRIED
FORWARD				786,550		3,929,616	4,716,166	4,007,315

							2021	2020
			Unrestricted		Restricted	Endowment	Total	Total
			fund		Fund	Fund	funds	funds
		Notes		E	E	6	E	E
FIXEDASSETS
Tangible assets		12				60,602	60,602	62,692
Investments		13	7704413			32I699014	446393427	3,903,291
			7709413			3,929,616	4,700,029	3,965,983
CURRENT ASSETS
Debtors Cash Stbank and	In	14	1,184				1,184	1,255
hand			2$,591				283591	50,219
			29,77S				29,775	51,474
CREDITORS
Amounts falling due
within one year		15	(15,63$)				(13,638)	(10,142)
NET CURRENT
ASSETS/(UABILITIES)			16,137				16137	41,332
TOTAL ASSETSLESSCURRENT
LIABILITIES			7$6,550			3,929,616	4,716,166	4,007,315
NET ASSETS			7996M			~939.616	4716356	4933315
FUNDS		16
Unrestricted funds:							7$6,550	732,773
Restricted funds								7,576
Endowment funds							3,929,966	3,266,966
TOTALFUNDS							4.716. 66	4337,3 5
The gna nels( statements		were approved	by the Board	of	Trustees on 15June	2021and wwe signed	on its behalf by;
4a~(	(,	c
Revd Canon Dr J Kimber
Revd N Nixon

		2021	2020
		E	E
	Quoted fixed asset investments	138,261	139,347
3.	CHARITABLE ACTIVITIES INCOME
		2021	2020
		f	E
	Rental income	3,100	4,800
	Evaluation income		14,299
	Other income	300	136
	Grants received -Restricted	18,953	21,717
	CIRSGrant	4,504
		26,857	40,952

		Unrestricted	Restricted	Endowment	2020
		fund	Fund	Fund	Totalfunds
		E	E	E	E
INCOME AND ENDOWMENTS
FROM:
Investment Income		139,347			139,347
Charitable activities		19,235	21,717		40,952
Total income and
endowments		158,582	21,717		180,299
EXPENDITURE ON:
Raising funds		6,261			6,261
Charitable activities
Grants payable		71,936	18,047		89,983
Support costs		71,885		2,090	73,975
Governance costs		18,673			18,673
Total expenditure		168,755	18,047	2,090	188,892
NET INCOME/EXPENDITURE		(10,173)	3,670	(2,090)	(8,593)
Other recognised gains
Gains on investment	assets	(15,325)		(56,063)	(71,388)
Net Movement in funds		(25,498)	3,670	(58,153)	(79,981)
RECONCILIATION OF	FUNDS
Total funds brought	forward	758,271	3,906	3,325,119	4,087,296
TOTAL FUNDS CARRIED FORWARD		732,773	7,576	3,266,966	4,007,315

								2021	2019
								E	E
Evaluation costs									6,261
Grants payable								70,861	89,983
Support costs								73,948	73,975
Governance								18,434	18,673
								163,243	188,892
E2,090 (2020 —E2,090)ofthe above costs were attributable				to	endowments		funds.
E19,530 (2020- E18,047) ofthe above costs were		attributable			to	restricted	funds.
6141,623 (2020 —E168,755) ofthe above	costs were		attributable			to unrestricted		funds.
ANALYSIS OF GRANTS
								2021	2020
								E	E
project costs
Innervation Trust —iSingPop schools project								9,600	9,600
Two Houses Project —St Peter's Droitwich	CofE Academy								900
Catalyst Youth Trust —Hikaru: Name Above All Names								1,000
GAP Entertainment C.I.C. —The GAP Kids'	TV Show							10,000	10,000
Culham StGabriel's —Re-imagining RE Leadership		and	Support		Structures				6,000
in West Midlands
NATRE —Regional Hub Development/Communications			Coordinator					6,400
Revd Doctor Sally Nash/CYN —Chaplaincy	standards	with Children				and			950
Young People
Sandwell Churches' Link-Opening New Doors								9,072
Arthur Rank Centre —Beyond Consumerism									7,670
Amblecote Christian Centre —WTC Library								1,000
Saltmine Trust —8'ham Passion Play									1,000
RE Matters - Bullying and Belief Toolkit for Schools									3,000
Integrating SMSC into Teaching and Learning in Colleges (formerly						with			5,790
Fbfe)
West Midlands Regional FE Chaplaincy Development								19,530	26,357
Newbigin School of Urban Leadership —Seedbeds Project								10,000	10,000
Revd Dr Alison Woolley/Seeds ofSilence —Formation			Support for Women
Theology Students								1,000
Christian Education —Youth for Christ RE Resources								3,256
Bewdley YFC —Your Voice pilot project									755
StAndrew's Cof E Church Rugby —'Muddy	Church'	pilot project						4,000	6,000
Rev Dr Margot Hodson/John Ray Initiative	—Eco-Theological			Educators					990
Network
Rev John Daniels/Joy in Enough —Plentyl project									500
ECCR —Ethical Money Churches Interactive	Workshop								3,220
Grants committed in previous year but not paid								(3,997)	(2,749)
								70,861	89,983

				2021	2020
				E	E
Wages				46,469	45,719
Pensions				6,861	7,266
Stationery, postage and		phone		2,317	3,231
Subscriptions				1,083	736
Travelling and conference expenses				23	1,117
Repairs and	renewals			8,852	5,483
Rates and water				2,040	1,998
Insurance				1,486	1,469
Management	charges			862	850
Light and heat				871	788
Away day costs					2,161
Depreciation	oftangible	fixed assets (restricted	E2,090)	2,090	2,090
Loss on sale	of tangible	fixed assets			17
Sundries				994	1,050
				73,948	73,975
GOVERNANCE COSTS
				2021	2020
				E	f
Administrative	salaries			8,871	9,558
Pension premiums				1,018	740
Pension paid	to former	employee		5,845	5,675
Accountancy	fees			2,700	2,700
				18,434	18,673

Net income	/(expenditure)	is stated	after charging/(crediting);
				2021	2020
				E	E
Depreciation	oftangible fixed assets			2,090	2,090
Loss on sale	of tangible fixed assets				17
(Profit)/Loss	on fair value	movement	ofinvestments	(706,976)	71,388

				2021	2020
				E	E
Salaries				77,164	77,318
Social security		costs		3,069	4,316
Pension	paid	to former employee		5,845	5,675
Pension	premiums			7,879	8,006
				93,957	95,315
No employee		received E60,000or more per annum	in either year.
				Number	Number
Average	number of employees			3T	3T

TANGIBLE FIXEDASSETS
	Freehold	Fixtures and
	property	fittings	Totals
	E		E
COST
At 1April 2020	104,492	1,301	105,793
Additions in year
Disposals in year
At 31March 2021	104,492	1,301	105,793
DEPRECIATION
At 1Ap ri I 2020	41,800	1,301	43,101
Disposals in year
Charge for year	2,090		2,090
At 31March 2021	43,890	1,301	45,191
NET BOOK VALUE
At 31March 2021	60,602		60,602
At 31March 2020	62,692	-	62,692

FIXE	DASSET INVESTMENTS
		2021	2020
		E	E
CCLA	Investments	4,584,549	3,877,573
Cash	deposits	54p878	25,718
		4,639,427	3,903,291

							Listed	Unlisted	Totals
							investments	investments
MARKET VALUE
At 1April 2020							3,877,572	1	3,877,573
Change in market value							706,976		706,976
At 31March	2021						4,584,548	1	4,584,549
NET BOOK VALUE
At 31March	2021						4,584,548	1	4,584,549
At 31March	2020						3,877,572	1	3,877,573
There were no investment			assets outside		ofthe UK.
Investments	(neither listed		nor	unlisted)	were as	follows:
								2021	2020
								f	f
Cash deposits	—Capital account							30,035	1,967
Cash deposits	-Accumulation			account				24,843	23,751
								54,878	25,718
ANALYSIS OF	INVESTMENTS
				Unrestricted			Endowment
					Funds		funds	2021	2020
					f		f	f	f
UK quoted investments					715,535		3,8693013	4,584,548	3,877,572
Other UK investments							1	1	1
Cash deposits					54,878			54,878	25,718
					0,	3	3,069,0	,639,	3,903,291
UK uoted investments
Market value	brought	forward			673,299		3,204,273	3,877,572	3,948,960
Net investment gains/(lasses)					42,236		664,740	706,976	(71,388)
Market value	carried forward				715,535		3,869,013	4,4&4,548	3,877,572
Historical cost (UK quoted)					519,603		2,062,514	2,582,117	2,5&2,117

		Unrestricted	Endowment	Total	Total
		funds	funds	2021	2020
		E	E	E	E
Investment	income
Dividends	receivable from
equity shares		138,041		138,041	139,238
Interest receivable		220		220	199
		138,261		139,261	139,437

		2021	2020
		E	E
Other debtors		1,184	1,255
CREDITORS: AMOUNTS	FALLING DUE WITHIN ONE YEAR
		2021	2020
		6	E
Trade creditors		3,403	3,383
Other creditors		10,135	6,559
Deferred income		100	200
		13,638	10,142

MOVEMENT IN FUNDS
						Net
						movement in
					At 1.4.20	funds	At 31.3.21
					E	E	E
Unrestricted funds
General fund					664,188	83,506	747,694
~0*i d
General Projects					44,811	(5,955)	38,856
West Midlands Regional	FE Chaplaincy		Development		23,774	(23,774)
Restricted fund
West Midlands Regional	FE Chaplaincy		Development		7,576	(7,576)
Endowment funds
Endowment fund					3,266,966	662,650	3,926,616
TOTAL FUNDS					4,007,315	708,851	4,717,166
Net movement in funds,	included	in the above are as follows:
					Transfers
		Incoming		Resources	between	Gains	Movement
		resources E		expended f	funds E	&losses E	in funds F.
Unrestricted funds
General fund			146,165	(141,623)	36,728	42,236	83,506
General Projects					(5,955)		(5,955)
West Midland Regional	FE
Chaplaincy Development					(23,774)		(23,774)
Restricted funds
West Midlands Regional	FE
Chaplaincy Development			18,953	(19,530)	(6,999)		(7,576)
Endowment funds
Endowment fund				(2,090)		664,740	662,650
TOTAL FUNDS			165,118	(163,243)		706,976	708,851

MOVEMENT IN FUNDS -continued	MOVEMENT IN FUNDS -continued
Financial year to 31March 2020 movement				in funds				Net
								movement in
							At1.4.19	funds	At31.3.20
Unrestricted funds
General fund ~9i 19 9							699,001	(34,813)	664,188
General Projects							37,186	7,625	44,811
West Midlands Regional	FE Chaplaincy		Development				22,084	1,690	23,774
Restricted fund
West Midlands Regional	FE Chaplaincy		Development				3,906	3,670	7,576
Endowment funds
Endowment fund							3,325,119	(58,153)	3,266,966
TOTAL FUNDS							4,087,296	(79,981)	4,007,315
Net movement in funds,	included	in the above are as				follows:
							Transfers
		Incoming			Resources		between	Gains	Movement
		resources			expended		funds	&losses	in funds
			E			E	E	E	E
Unrestricted funds
General fund			158,582		(160/t45)		(17,625)	(15,325)	(34,813)
General Projects							7,625		7,625
West Midland Regional	FE
Chaplaincy Development						(8,310)	10,000		1,690
Restricted funds
West Midlands Regional	FE
Chaplaincy Development			21,717			(18,047)			3,670
Endowment funds
Endowment fund						(2,090)		(56,063)	(58,153)
TOTALFUNDS			89. 99		~188,8999			(71,388)	(79,981)