||||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|
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||||||||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$,434|18,673|
|Tota I expenditure||||141,623|19,530|2,090|163,243|188,892|
|NET|||||||||
|(EXPENDITURE)/INCOME||||4,542|(577)|(2,090)|1,875|(8,593)|
|Other recognised|gains||||||||
|Gains/(losses)
on|investment||||||||
|assets||||42,236||664,740|706,976|(71,388)|
|Net Movement
in|funds|||46,778|(577)|662,650|708,851|(79,981)|
|Transfers between|Funds|||6,999|(6,999)||||
|||||53,777|(7,576)|662,650|708,851|(79,981)|
|RECONCILIATION
OF||FUNDS|||||||
|Total funds brought||forward||732,773|7,576|3,266,966|4,007,315|4,087,296|
|TOTAL FUNDS CARRIED|||||||||
|FORWARD||||786,550||3,929,616|4,716,166|4,007,315|
##
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||||||||2021|2020|
|---|---|---|---|---|---|---|---|---|
||||Unrestricted||Restricted|Endowment|Total|Total|
||||fund||Fund|Fund|funds|funds|
|||Notes||E|E|6|E|E|
|FIXEDASSETS|||||||||
|Tangible assets||12||||60,602|60,602|62,692|
|Investments||13|7704413|||32I699014|446393427|3,903,291|
||||7709413|||3,929,616|4,700,029|3,965,983|
|CURRENT ASSETS|||||||||
|Debtors
Cash Stbank and|In|14|1,184||||1,184|1,255|
|hand|||2$,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|||||||||
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|||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|
##
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|||||||||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|
##
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##
|||||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|
##
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##
|||||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|
##
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|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|
|16.|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)|
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