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REGISTERED COMPANY NUMBER: 00212940 (England and Wales)
REGISTERED CHARITY NUMBER: 234028














Report of the Trustees and

Financial Statements

for the Year Ended 31 December 2023

for

The Liverpool Church of England
Scripture Readers' Society
Incorporated

The Liverpool Church of England
Scripture Readers' Society
Incorporated

Contents of the Financial Statements
for the Year Ended 31 December 2023










Page

Report of the Trustees 1 to 2

Independent Examiner's Report 3

Statement of Financial Activities 4

Balance Sheet 5

Notes to the Financial Statements 6 to 10

The Liverpool Church of England
Scripture Readers' Society
Incorporated (Registered number: 00212940)

Report of the Trustees
for the Year Ended 31 December 2023



The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2023. 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 the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES
Objectives and aims
The charity's objectives are for the advancement of religion, namely by providing grants to Church of England parishes in the City of Liverpool. The grants are to assist parishes with the costs of employing lay workers.

We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives they have set.

How our activities deliver public benefit:

Our main activities are set out under the objectives and activities heading above. The charity supported six Church of England parishes during the year, overall contributing £10,000 (2022: £12,000) towards the cost of employing lay persons.

Significant activities
The charity, which has no paid staff, is dependent on income from its investments to undertake its activities. The investment policy of the Society is to maintain a balance between income and capital growth, following the advice of their investment advisors.

ACHIEVEMENT AND PERFORMANCE
Charitable activities
Investment income has been sufficiently balanced to cover overheads and to enable our grantmaking to be retained at a level similar to the previous year.

Investment performance
The Trustees have continued to review regularly the society's investment portfolio in conjunction with the stockbrokers, to ensure that the balance between income and capital growth is maintained.

FINANCIAL REVIEW
Reserves policy
The Trustees aim to distribute the whole of their income after expenses and retain sufficient liquid assets to cover half the normal level of annual expenditure.

STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is governed by its Memorandum and Articles of Association, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Recruitment, appointment and induction of new trustees
Members are appointed or elected in accordance with the Articles of Association of the Company, and new members are given a brief induction into the nature and the running of the Charity.

REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
00212940 (England and Wales)

Registered Charity number
234028


The Liverpool Church of England
Scripture Readers' Society
Incorporated (Registered number: 00212940)

Report of the Trustees
for the Year Ended 31 December 2023


Registered office
Oriel House
2 - 8 Oriel Road
Bootle
Merseyside
L20 7EP

Trustees
A Harvey Trustee
D G Roughley Trustee - Chairman
D Smethem (Deceased) Trustee (deceased 20.6.24)
N Bishop

Company Secretary
SB&P

Independent Examiner
SB&P
Chartered Accountants
Oriel House
2/8 Oriel Road
Bootle
Merseyside
L20 7EP

Bankers
Barclays plc
48-50 Lord Street
Liverpool
L2 1TD

Investment advisors
Evelyn Partners
Royal Liver Building
Pier Head
Liverpool
L3 1NY

Approved by order of the board of trustees on 25 September 2024 and signed on its behalf by:





D G Roughley - Trustee

Independent Examiner's Report to the Trustees of
The Liverpool Church of England
Scripture Readers' Society
Incorporated


Independent examiner's report to the trustees of The Liverpool Church of England Scripture Readers' Society Incorporated ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2023.

Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.








Suzanne Draper FCCA ACA

SB&P
Chartered Accountants
Oriel House
2/8 Oriel Road
Bootle
Merseyside
L20 7EP

25 September 2024

The Liverpool Church of England
Scripture Readers' Society
Incorporated

Statement of Financial Activities
(Incorporating an Income and Expenditure Account)
for the Year Ended 31 December 2023

31.12.23 31.12.22
Unrestricted Total
funds funds
Notes £    £   
INCOME AND ENDOWMENTS FROM

Investment income 2 27,308 26,306

EXPENDITURE ON
Raising funds 3 5,610 4,488

Charitable activities
Grants to Church of England parishes 10,000 12,000

Other 4,196 3,572
Total 19,806 20,060

Net gains/(losses) on investments (102 ) (6,682 )

NET INCOME/(EXPENDITURE) 7,400 (436 )
Other recognised gains/(losses)
Gains/(losses) on revaluation of fixed assets 16,685 (37,425 )
Net movement in funds 24,085 (37,861 )

RECONCILIATION OF FUNDS
Total funds brought forward 670,996 708,857

TOTAL FUNDS CARRIED FORWARD 695,081 670,996

The Liverpool Church of England
Scripture Readers' Society
Incorporated (Registered number: 00212940)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Unrestricted Total
funds funds
Notes £    £   
FIXED ASSETS
Investments 6 690,714 643,651

CURRENT ASSETS
Debtors 7 3,996 1,430
Cash at bank and in hand 2,367 26,707
6,363 28,137

CREDITORS
Amounts falling due within one year 8 (1,996 ) (792 )

NET CURRENT ASSETS 4,367 27,345

TOTAL ASSETS LESS CURRENT LIABILITIES 695,081 670,996

NET ASSETS 695,081 670,996
FUNDS 9
Unrestricted funds 695,081 670,996
TOTAL FUNDS 695,081 670,996

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.


The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.


The trustees acknowledge their responsibilities for
(a)ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.


The financial statements were approved by the Board of Trustees and authorised for issue on 25 September 2024 and were signed on its behalf by:





D G Roughley - Trustee

The Liverpool Church of England
Scripture Readers' Society
Incorporated

Notes to the Financial Statements
for the Year Ended 31 December 2023


1. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in 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 modified by the revaluation of certain assets.

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

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 headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been 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 a commitment but not accrued as expenditure.

Governance costs
Expenditure on the governance costs of the charity includes expenditure that relates specifically to the strategic and future development of the charity.

Taxation
The charity is exempt from corporation tax on its charitable activities.

Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

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 restricted purposes.

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

2. INVESTMENT INCOME
31.12.23 31.12.22
£    £   
Dividends and fixed interest 27,308 26,306


The Liverpool Church of England
Scripture Readers' Society
Incorporated

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


3. RAISING FUNDS

Raising donations and legacies
31.12.23 31.12.22
£    £   


Investment management costs
31.12.23 31.12.22
£    £   
Portfolio management 5,610 4,488

Aggregate amounts 5,610 4,488

4. GRANTS PAYABLE
31.12.23 31.12.22
£    £   
Grants to Church of England parishes 10,000 12,000
The total grants paid to institutions during the year was as follows:
31.12.23 31.12.22
£    £   
Christ Church and Holy Trinity 3,000 3,000
St James In the City 4,000 6,000
St Philemons 3,000 3,000
10,000 12,000


5. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022.


Trustees' expenses

There were no trustees' expenses paid for the year ended 31 December 2023 nor for the year ended 31 December 2022.



The Liverpool Church of England
Scripture Readers' Society
Incorporated

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


6. FIXED ASSET INVESTMENTS
Listed
investments
£   
MARKET VALUE
At 1 January 2023 643,651
Additions 57,128
Disposals (26,750 )
Revaluation gain on fixed asset investments 16,685
At 31 December 2023 690,714
NET BOOK VALUE
At 31 December 2023 690,714
At 31 December 2022 643,651

The cost of the quoted investments at 31st December 2023 amounted to £558,812 (2022: £526,801).

Investments were valued at the mid-point of the quotation in the Stock Exchange official list at 31st December 2023.

Assets held on a recognised Stock Exchange are as follows:
2023 2022
£ £

UK Investments Income 428,267 404,284
Overseas Investment Income 262,447 239,367
690,714 643,651




7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors - 103
Other debtors 1,496 1,327
Prepayments 2,500 -
3,996 1,430


The Liverpool Church of England
Scripture Readers' Society
Incorporated

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Accrued expenses 1,996 792

9. MOVEMENT IN FUNDS
Net Transfers
movement between At
At 1.1.23 in funds funds 31.12.23
£    £    £    £   
Unrestricted funds
General fund 567,881 7,400 16,497 591,778
Revaluation Reserve 103,115 16,685 (16,497 ) 103,303
670,996 24,085 - 695,081
TOTAL FUNDS 670,996 24,085 - 695,081

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

Incoming Resources Gains and Movement
resources expended losses in funds
£    £    £    £   
Unrestricted funds
General fund 27,308 (19,806 ) (102 ) 7,400
Revaluation Reserve - - 16,685 16,685
27,308 (19,806 ) 16,583 24,085
TOTAL FUNDS 27,308 (19,806 ) 16,583 24,085


Comparatives for movement in funds

Net Transfers
movement between At
At 1.1.22 in funds funds 31.12.22
£    £    £    £   
Unrestricted funds
General fund 565,529 (37,861 ) 40,213 567,881
Revaluation Reserve 143,328 - (40,213 ) 103,115
708,857 (37,861 ) - 670,996
TOTAL FUNDS 708,857 (37,861 ) - 670,996

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

Incoming Resources Gains and Movement
resources expended losses in funds
£    £    £    £   
Unrestricted funds
General fund 26,306 (20,060 ) (44,107 ) (37,861 )

TOTAL FUNDS 26,306 (20,060 ) (44,107 ) (37,861 )

The Liverpool Church of England
Scripture Readers' Society
Incorporated

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023


9. MOVEMENT IN FUNDS - continued

Transfers between funds

A transfer from the revaluation reserve to the general fund reflects the realisation of gains and losses crystallising in respect of previously revalued fixed asset investments disposed of in the year.

10. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 December 2023.