REGISTERED CHARITY NUMBER' 1152432

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REGISTERED CHARITY NUMBER' 1152432 REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 1 DECEMBER 2018 FOR DIDYMUS CIO Cresswells 12 Market Street Hebden Bridge West Yorkshire HX7 6AD

Transcript of REGISTERED CHARITY NUMBER' 1152432

Page 1: REGISTERED CHARITY NUMBER' 1152432

REGISTERED CHARITY NUMBER' 1152432

REPORT OF THE TRUSTEES ANDUNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 1 DECEMBER 2018

FORDIDYMUS CIO

Cresswells12 Market Street

Hebden BridgeWest Yorkshire

HX7 6AD

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DIDYMUS CIO

CONTENTS OF THE FINANCIAL STATEMENTSFOR THE YEAR ENDED 1 DECEM8ER 2018

Page

Chair's Report

Report of the Trustees

Independent Examiner's Report

Statement of Financial Activities

Balance Sheet

Notes to the Financial Statements

Detailed Statement of Financial Activities

2 to 5

9 to 13

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DIDYMUS CIO

CHAIR'S REPORTFOR THE YEAR ENDED I DECEMSER 20IS

We have been delighted to see the steady growth and development of Didymus which is now in its fifth year.During 2018 we have continued to support a wide range of charities in our target geographical areas of theUnited Kingdom, Africa and Central and South America. These have included a number of charitableorganisations for which we have provided funding for the first time this year as well as those which alreadyhave contact.

It has been very rewarding to see the impact which even some of the fairly small grants we have providedhave made on the lives of those helped by the organisations we have supported during this period. Didymusis committed to support, wherever possible, charitable organisations with an income of under E1 million ayear so that our grants can have maximum impact.

The trustees have also made the decision to approve an extended grants scheme whereby we will providefunding in the future for a small number of charitable organisations in our target areas where we havealready seen a strong track record. We are looking forward to building up closer relations with theseorganisations in the future.

Over this last year we have also further developed our CRM cloud-based system using Salesforce which hashelped to enhance the contact and support we can offer to our applicants and grant recipients. At the sametime, we have also updated our website and have been greatly helped by our web administrator Arkhiteksand also by our administrator Sheila Powell.

I am very grateful to the Trustees for all their hard work over this past year and their commitment toDidymus CIO.

The Revd Dr Daphne GreenChair - Didymus CIO

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DIDYMUS CIO

REPORT OF THE TRUSTEESFOR THE YEAR ENDED 1 DECEMBER 2018

The trustees present their report with the financial statements of the charity for the year ended1 December 2018. The trustees have adopted the provisions of Accounting and Reporting by Charities:Statement of Recommended Practice applicable to charities preparing their accounts in accordance with theFinancial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 3anuary2015).

083ECTIVES AND ACTIVITIESObjectives and aimsThe objects of the CIO are such general charitable purposes for the benefit of the public as the charitytrustees from time to time in their discretion think fit.

The Didyrnus Capital fund was established by donation of cash and shares in 2014. The trustees have thepower to spend or retain both capital and income and so the fund is classed as expendable endowment. Thefund's objects are to retain sufficient capital to provide an income for the CIO to make grants as they see fit.

GrantmakingOur full grant making policy and application process are available on our websitewww. didymus-charity. org. uk, our stated aims are:

— To encourage social inclusion- To advance education- To develop the arts—To advance equality and diversity by creating opportunities for women- To promote religious understanding

ACHIEVEMENT AND PERFORMANCEFundraising activitiesDuring the year donations (net of gift aid) of E150,000 (2017 E100,000) have been received.

Grants givenDuring the year donations of E265, 175 (2017 E179,359) were given.

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DIDYMUS CIO

REPORT OF THE TRUSTEESFOR THE YEAR ENDED 1 DECEMBER 2018

ACHIEVEMENT AND PERFORMANCEGrant List 2018

Charity

Burnba FoundationCecily's FundA Little Gesture A Great HelpWonder YearsExodus ProjectsRhythmixClock YorkshireIpswich Community PlaybusLondon Music MastersNicodemusDedaCare Link West MidlandsRoyal Birmingham School of ArtsGateway Church, BarnsleyAtlantic School for Young LeadersTeam KenyaCarlisle Youth Zone (CYZ)Families United Network (FUN)East Suffolk Association for the Blind

Young People Taking ActionRural Coffee CaravanDebate MateCam SightXtrax: Hastings 5 Rother Drop in

CentrePriors Park Neighbourhood ProjectClassroom BoxNational Youth A*s Trust (NYAT)Changing TunesExtra Phoenix LtdDark Horse TheatreSporting MarvelsBlyth StarAzaleaMustard TreeGreen Health Thames ValleyIT Schools AfricaYoung People's Puppet TheatreTrinity Community Arts Ltd

TemwaCrossroads DerbyshireHarrogate International FestivalsMaggs Day Centre3H Fund (Helping Hands for Holidays)

Imago Dei Prison MinistryBritish Disabled Angling AssociationVoyage YouthClonter TheatreCARASCycle RThe Parker TrustBag BooksClapton Common Boys ClubTanyard Youth ProjectThe Feast Project

Amount

E4,500E4,641E5,000f5,000E4,800E5,000E4,900E5,000E2,500E1,500f5,000E4,850E4,000f3,390E2,800E4,445E5,000E5,000E4,608E1,396E4,725E5,000E4,474

f5,000E4,850E2,400E5,000E5,000f5,000f5,000E.3,000E5,000E5,000E5,000E5,000E4, 500E3,344E3,000E5,000E4, 500E2,673E.3,000E4,000E5,000E3,000E4, 500E2,000ES,OOO

f2, 500E4,900E2,000E2,500E3,000E2,000

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Date Awarded

02/03/1809/03/1809/03/1812/03/1813/03/1813/03/1814/03/1814/03/1814/03/1814/03/1815/03/1815/03/1816/03/1816/03/1821/03/1822/03/1828/03/1829/03/1803/04/1804/04/1805/04/1826/04/1812/07/18

13/07/1830/06/1817/02/1817/02/1830/06/1830/06/1830/06/1830/06/1830/06/1830/06/1830/06/1830/06/1830/06/1830/06/1. 830/06/1830/06/1830/06/1830/06/1830/06/1830/06/1830/06/1830/06/1830/06/1830/06/1830/06/1820/10/1820/10/1820/10/1820/10/1820/1 0/1820/10/18

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DIDYMUS CIO

REPORT OF THE TRUSTEESFOR THE YEAR ENDED 1 DECEMBER 2018

ACHIEVEMENT AND PERFORMANCEFutures Theatre CompanyBack on TrackFurniture Recycling ProjectEarth Restoration ServicesThe Dash CharityReading Association for the BlindCarers Milton KeynesEducAid Sierra LeoneSouthwark PlayhouseMakhad TrustTutti Frutti TheatreSunderland Womens CentreRestormel Association for MentalHealth

E2, 500E2, 500E3,800E 500E2,500E5,000E5,000E5,000E4,050E,2,000E5,000E3,154

E4,975

20/10/1820/10/1820/10/1820/10/1820/10/1820/10/1820/10/1820/10/1820/10/1820/10/1820/10/1820/10/18

20/10/18

FINANCIAL REVIEWReserves policyReserves are held by the charity in order to be invested to provide income for grants and administration, andif required to be used to meet future grant obligations

STRUCTURE, GOVERNANCE AND MANAGEMENTGoverning documentThe charity is controlled by its governing document, a constitution of a Charitable Incorporated Organisation.

Recruitment and appointment of new trusteesApart from the first charity trustees, every trustee shall be appointed by resolution of the trustees passed ata properly convened meeting of the charity trustees for the following terms

1 Any trustee who is a family member shall serve in office indefinitely2 Any trustee who is not a family member shall serve in office for a term of three years.

In selecting individuals for appointment as charity trustees, the charity trustees must have regard to theskills, knowledge and experience needed for the effective administration of the CIO.

REFERENCE AND ADMINISTRATIVE DETAILSRegistered Charity number1152432

Principal addressChurch View52 Church LaneBishopthorpeYorkshireYO23 2QG

TrusteesThe Rev Dr D M GreenMr A H WallMrs H N WallMrs 0 C 3 HoulihanMs C E C CumminsMr W D Fawkner-Corbett

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DIDYMUS CIO

REPORT OF THE TRUSTEESFOR THE YEAR ENDED 1 DECEMBER 2018

REFERENCE AND ADMINISTRATIVE DETAILSIndependent examinerCresswellsl2 Market StreetHebden BridgeWest YorkshireHX7 6AD

Approved by order of the board of trustees on 2.. ..l.@~ W~ { . and signed on its behalf by:

The Rev Dr D M Green - Truste

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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OFDIDYMUS CIO

Independent examiner's report to the trustees of Didymus CIOI report to the charity trustees on my examination of the accounts of the Didymus CIO (the Trust) for theyear ended 1 December 2018.

Responsibilities and basis of reportAs the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance withthe requirements of the Charities Act 2011 ('the Act').

I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in

carrying out my examination I have followed all applicable Directions given by the Charity Commission undersection 145(5)(b) of the Act.

Independent examiner's statementSince your charity's gross income exceeded f250, 000 your examiner must be a member of a listed body. Ican confirm that I am qualified to undertake the examination because I am a registered member of ICAEWwhich is one of the listed bodies

I have completed my examination. I confirm that no material matters have come to my attention in

connection with the examination giving me cause to believe that in any material respect:

1.2.3.

accounting records were not kept in respect of the Trust as required by section 130 of the Act; orthe accounts do not accord with those records; orthe accounts do not comply with the applicable requirements concerning the form and content ofaccounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirementthat the accounts give a true and fair view which is not a matter considered as part of an independentexamination.

I confirm that there are no other matters to which your attention should be drawn to enable a properunderstanding of the accounts to be reached.

Mr 3 DakinICAEWCresswells12 Market StreetHebden BridgeWest YorkshireHX7 6AD

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DIDYMUS CIO

STATEMENT OF FINANCIAL ACTIVITIESFOR THE YEAR ENDED 1 DECEMBER 2018

Unrestricted Endowmentfund fund

Notes E

2018Totalfunds

2017TotalfundsE

INCOME AND ENDOWMENTS FROMDonations and legacies

Investment income

Total

187,500

187,500

76,039

76,039

187,500

76,039

263,539

171,043

70,405

241,448

EXPENDITURE ONRaising fundsCharitable activitiesGeneral

Other

Total

Net gains/(losses) on investments

NET INCOME/(EXPENDITURE)

Transfers between funds

261,175

4,370

265,545

3,525

3,525

3,525

261,175

4,370

269,070

74,927 (74,927)

(451,200) (451,200)

(78,045) (378,686) (456,731)

2, 795

180,194

9,481

192,470

280,073

329,051

Net movement in funds

RECONCILIATION OF FUNDS

Total funds brought forward

(3,118) (453,613) (456,731) 329,051

89,751 2, 717,143 2,806,894 2,477,843

TOTAL FUNDS CARRIED FORWARD 86,633 2,263,530 2,350,163 2,806,894

The notes form part of these financial statements

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DIDYMUS CIO

BALANCE SHEETAT 1 DECEMBER 2018

FIXED ASSETSInvestments

Unrestrictedfund

Notes f

Endowmentfundf

2,240,491

2018Totalfundsf

2, 240,491

2017Totalfundsf

2,666,941

CURRENT ASSETSCash at bank 87,353 23,039 110,392 140,673

CREDITORSAmounts falling due within one year (720) (720) (720)

NET CURRENT ASSETS 86,633 23,039 109,672 139,953

TOTAL ASSETS LESS CURRENTLIABILITIES 86,633 2,263,530 2,350,163 2,806,894

NET ASSETS 86,633 2,263,530 2,350,163 2,806,894

FUNDSUnrestricted fundsEndowment funds

86,6332, 263,530

89,7512,717,143

TOTAL FUNDS 2,350,163 2,806,894

The financial statements were approved by the Board of Trustees on . ~ ~~ ~ ~, ( andwere signed on its behalf by:

ncThe Rev Dr D M Green -Trustee

The notes form part of these financial statements

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DIDYMUS CIO

NOTES TO THE FINANCIAL STATEMENTSFOR THE YEAR ENDED 1 DECEMBER 2018

ACCOUNTING POLICIES

Basis of preparing the financial statementsThe financial statements of the charity, which is a public benefit entity under FRS 102, have beenprepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities:Statement of Recommended Practice applicable to charities preparing their accounts in accordancewith the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective1 )anuary 2015)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable inthe UK and Republic of Ireland' and the Charities Act 2011. The financial statements have beenprepared under the historical cost convention with the exception of investments which are included atmarket value, as modified by the revaluation of certain assets.

IncomeAll income is recognised in the Statement of Financial Activities once the charity has entitlement to thefunds, it is probable that the income will be received and the amount can be measured reliably.

ExpenditureLiabilities are recognised as expenditure as soon as there is a iegal or constructive obligationcommitting the charity to that expenditure, it is probable that a transfer of economic benefits will berequired in settlement and the amount of the obligation can be measured reliably. Expenditure isaccounted for on an accruals basis and has been classified under headings that aggregate all costrelated to the category. Where costs cannot be directly attributed to particular headings they havebeen allocated to activities on a basis consistent with the use of resources.

Grants offered subject to conditions which have not been met at the year end date are noted as acommitment but not accrued as expenditure.

TaxationThe charity is exempt from tax on its charitable activities.

Fund accountingUnrestricted funds can be used in accordance with the charitable objectives at the discretion of thetrustees,

Restricted funds can only be used for particular restricted purposes within the objects of the charity.Restrictions arise when specified by the donor or when funds are raised for particular restrictedpurposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financialstatements.

2. INVESTMENT INCOME

Dividend income

2018E

76,039

2017E

70,405

RAISING FUNDS

Investment management costs

Portfolio management

2018E

3,525

2017

2,795

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DIDYMUS CIO

NOTES TO THE FINANCIAL STATEMENTS - CONTINUEDFOR THE YEAR ENDED 1 DECEMBER 2018

TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 1 December 2018 nor forthe year ended 1 December 2017.

Trustees' expensesThere were no trustees' expenses paid for the year ended 1 December 2018 nor for the year ended1 December 2017.

5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIV1TIES

Unrestricted Endowmentfund fund

E E

TotalfundsE

INCOME AND ENDOWMENTS FROMDonations and legacies

Investment income

121,043 50,000

70,405

171,043

70,405

Total 121,043 120,405 241,448

EXPENDITURE ONRaising fundsCharitable activitiesGeneral

Other

Total

Net gains/(losses) on investments

NET INCOME/(EXPENDITURE)

Transfers between funds

180,194

9,481

189,675

(68,632)

72, 182

2,795

2, 795

280, 073

397,683

(72, 182)

2,795

180,194

9,481

192,470

280,073

329,051

Net movement in funds

RECONCILIATION OF FUNDS

Total funds brought forward

3,550 325, 501 329,051

86,201 2,391,642 2,477,843

TOTAL FUNDS CARRIED FORWARD 89,751 2,717,143 2,806,894

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DIDYMUS CIO

NOTES TO THE FINANCIAL STATEMENTS - CONTINUEDFOR THE YEAR ENDED I DECEMBER 2018

6. FIXED ASSET INVESTMENTS

Listedinvestments

MARKET VALUEAt 2 December 2017AdditionsDisposalsRevaluations

At 1 December 2018

2,666,941231,420

(205,658)(452, 212)

2,240,491

NET BOOK VALUEAt 1 December 2018

At 1 December 2017

2,240,491

2,666,941

There were no investment assets outside the UK.

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Other creditors

2018E

720

2017E

720

8. MOVEMENT IN FUNDS

Unrestricted fundsGeneral fund 89,751 (78,045)

Netmovement in

At 2.12.17 fundsE E

Transfersbetween

fundsE

74,927

At 1.12,18E

86,633

Endowment fundsCapital fund 2,717,143 (378,686) (74,927) 2, 263,530

TOTAL FUNDS 2,806,894 (456,731) 2,350,163

Net movement in funds, included in the above are as follows:

Incoming Resourcesresources expended

E E

Gains and Movement in

losses fundsE E

Unrestricted fundsGeneral fund 187,500 (265, 545) (78,045)

Endowment fundsCapital fund 76,039 (3,525) (451,200) (378,686)

TOTAL FUNDS 263,539 (269,070) (451,200) (456,731)

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DIDYMUS CIO

NOTES TO THE FINANCIAL STATEMENTS - CONTINUEDFOR THE YEAR ENDED 1 DECEMBER 2018

8. MOVEMENT IN FUNDS - continued

Comparatives for movement in fundsNet

movement in

At 2, 12,16 fundsE E

Transfersbetween

funds At 1.12.17E E

Unrestricted FundsGeneral fund 86,201 (68,632) 72, 182 89,751

Endowment fundsCapital fund 2,391,642 397,683 (72, 182) 2,717,143

TOTAL FUNDS 2,477,843 329,051 2,806,894

Comparative net movement in funds, included in the above are as follows:

Unrestricted fundsGeneral fund

Incomingresources

E'

121,043

Resourcesexpended

E

(189,675)

Gains and Movement in

losses fundsE E

(68,632)

Endowment fundsCapital fund 120,405 (2,795) 280,073 397,683

TOTAL FUNDS 241,448 (192,470) 280,073 329,051

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted fundsGeneral fund

Net Transfersmovement in between

At 2.12.16 funds fundsf E f

86,201 (146,677) 147,109

At 1.12.18E

86,633

EndowmentCapital fund

TOTAL FUNDS

2,391,642

2, 477,843 (127,680) 2,350,163

18,997 (147,109) 2, 263,530

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DIDYMUS CIO

NOTES TO THE FINANCIAL STATEMENTS - CONTINUEDFOR THE YEAR ENDED 1 DECEMSER 2018

8. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined net movement in funds, included in theabove are as follows:

Incomingresources

E

Resourcesexpended

E

Gains and Movement in

losses fundsE E

Unrestricted fundsGeneral fund 308,543 (455,220) (146,677)

Endowment fundsCapital fund

TOTAL FUNDS

196,444 (6,320) (171,127) 18,997

504,987 (461,540) (171,127) (127,680)

The Didymus Capital fund was established by donation of cash and shares in 2014. The trustees havethe power to spend or retain both capital and income and so the capital fund is classed as anexpendable endowment. The fund's objects are to retain sufficient capital to provide an income forthe CIO to make grants as they see fit,

9 RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 1 December 2018.

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DIDYMUS CIO

DETAILED STATEMENT OF FINANCIAL ACTIVITIESFOR THE YEAR ENDED 1 DECEMBER 2018

2018 2017E

INCOME AND ENDOWMENTS

Donations and legaciesDonationsGift aid

150,00037,500

100,00071,043

187,500 171,043

Investment incomeDividend income

Tota I incoming resources

76,039

263,539

70,405

241,448

EXPENDITURE

Investment management costsPortfolio management

Charitable activitiesGrants to institutions

3,525

261,175

2, 795

179,359

Support costsGovernance costsAccountancy and legal feesComputer costsLegal feesAdmin expenses

720153289

3,208

8408,411

230835

Total resources expended

4,370

269,070

10,316

192,470

Net (expenditure)/income before gainsand losses (5,531) 48,978

Realised recognised gains and lossesRealised gains/(losses) on fixed asset investments (451,200) 280,073

Net (expenditure)/income (456,731) 329,051

This page does not form part of the statutory financial statements

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