| REGISTERED COMPANY NUMBER: |
| REGISTERED CHARITY NUMBER: |
| CHURCH SCHOOLMASTERS AND |
| SCHOOLMISTRESSES' BENEVOLENT INSTITUTION |
| REPORT OF THE TRUSTEES AND |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| REGISTERED COMPANY NUMBER: |
| REGISTERED CHARITY NUMBER: |
| CHURCH SCHOOLMASTERS AND |
| SCHOOLMISTRESSES' BENEVOLENT INSTITUTION |
| REPORT OF THE TRUSTEES AND |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| CHURCH SCHOOLMASTERS AND |
| SCHOOLMISTRESSES' BENEVOLENT INSTITUTION |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| Page |
| Reference and Administrative Details | 1 |
| Report of the Trustees | 2 | to | 3 |
| Independent Examiner's Report | 4 |
| Statement of Financial Activities | 5 |
| Balance Sheet | 6 |
| Notes to the Financial Statements | 7 | to | 11 |
| CHURCH SCHOOLMASTERS AND |
| SCHOOLMISTRESSES' BENEVOLENT INSTITUTION |
| REFERENCE AND ADMINISTRATIVE DETAILS |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| TRUSTEES |
| REGISTERED OFFICE |
| REGISTERED COMPANY NUMBER |
| REGISTERED CHARITY NUMBER |
| INDEPENDENT EXAMINER | Galloways Accounting (Horsham) Limited |
| Ridgeland House |
| 15 Carfax |
| Horsham |
| West Sussex |
| RH12 1DY |
| SOLICITORS | SMR Solicitors |
| 50 Westgate |
| Chichester |
| West Sussex |
| PO19 3HE |
| CHURCH SCHOOLMASTERS AND |
| SCHOOLMISTRESSES' BENEVOLENT INSTITUTION (REGISTERED NUMBER: 00041482) |
| REPORT OF THE TRUSTEES |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| The trustees, who are also directors of the charity for the purpose of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31st March 2025. The trustees have adopted the provisions of the 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 1st January 2015). |
| The Church Schoolmasters and Schoolmistresses' Benevolent Institution (CSSBI) was established on the 2nd January 1857, becoming a charitable company limited by guarantee in June 1894. It is governed by Articles of Association which were last amended by special resolution on 11th May 2011. |
| We are extremely grateful to those members and friends who continue to support us and in particular to our Vice-Patrons: His Grace the Archbishop of Canterbury, His Grace the Archbishop of York and His Grace the Archbishop of Wales. We also are very pleased to thank our President, the Right Reverend and Right Honourable the Lord Bishop of London DBE. |
| The CSSBI Council of Trustees have taken the decision to close the Charity. |
| After much thought, prayer and discussion, in December 2022 the Trustees decided to close the Charity. CSSBI's Patrons were notified of the intended closure in August 2023. The notice of closure was put on the CSSBI's website in September 2023. The CSSBI was then closed to new applications, but it was agreed that applications already made would be dealt with as normal. The final applications were assessed in February 2024. |
| There were five main reasons for closure. They were discussed at length and agreed by all the trustees. They were confirmed as sufficient reasons for closure by the Charities Commission. |
| o The Equality, Diversity and Inclusion Acts mean that we are no longer able to continue with the original purpose. The money was donated for a Christian charity and for Christian teachers. Even after updating the charity's Articles of Association in May 2011, we are now no longer able to guarantee this. |
| o Society has changed, people have different expectations and ideas of what constitutes being necessitous. |
| o There has been a significant change in the cause we were created to address. For example, retired teachers now have pensions. |
| o We are unable to recruit suitable trustees. The current Council of the CSSBI does not show diversity and we would be unable to recruit new trustees if we are knowingly not meeting D, I & E regulations. |
| o We believe we could achieve more for our cause by transferring our assets to other organisations. CSSBI have looked at other organisations with similar purposes to CSSBI. |
| The trustees then spent a great deal of time finding, investigating and discussing, with the Administrator's help, other charities with similar purposes to the CSSBI. It was agreed to divide the financial assets, once in the form of cash, equally amongst four of them. |
| OBJECTIVES AND ACTIVITIES |
| Objectives and aims |
| The objectives for which the charity was established where to provide for 'necessitous' present or former teachers/lecturers and those in teacher training who are members of the Church of England or of another recognised Christian denomination by giving financial assistance in times of affliction, disablement or other misfortune, and on their demise to provide for their financial dependants, such financial assistance to include (but not be limited to) assistance towards the cost of subsistence and education in each case anywhere within England and Wales. |
| Public benefit |
| The trustees have referred to the advice contained in the Charity Commission's general guidance on public benefit when reviewing their aims and objectives and in planning for future activities. The scope of the charity was revised in May 2011. The trustees aimed to widen their remit without causing detriment to the current beneficiaries. They agreed that when considering applications for assistance, they would use the Churches Together in England, and the Churches Together in Wales documents listing recognised Christian denominations. |
| ACHIEVEMENT AND PERFORMANCE |
| Charitable activities |
| The trustees were able to help a great many people needing financial support. |
| They have very much appreciated the many cards, emails and thank-you notes from successful applicants who have been helped in various ways. They are pleased that the CSSBI has made a difference to the lives of many people this year, by, for example, granting financial aid for: |
| o Council Tax, mortgage, rent and utility arrears |
| o Council Tax liability orders |
| o Rent arrears to prevent eviction |
| o Modifications to bathrooms for retired teachers with mobility issues |
| o Replacement boiler for family with young children |
| o Food vouchers for families with young children |
| o Vouchers for household furnishings |
| o Clothing vouchers for teacher due to cessation of supply work due to illness |
| o Financial assistance |
| o Replacement windows for family with unwell child |
| o Deposit and rent in advance to enable teacher to move to a more affordable property. |
| CHURCH SCHOOLMASTERS AND |
| SCHOOLMISTRESSES' BENEVOLENT INSTITUTION (REGISTERED NUMBER: 00041482) |
| REPORT OF THE TRUSTEES |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| FINANCIAL REVIEW |
| Financial position |
| Financial figures |
| At close 31st March 2025 |
| Barclays deposit £0.00 - Closed 20th March 2025 |
| Barclays current £263,518.47 |
| Deposits |
| All the deposit accounts were closed by 31st March 2025. |
| Investments |
| Quilter Cheviot £ 27,188 (Confirmed by Ascot Lloyd) |
| Quilter £0 (Confirmed by Ascot Lloyd) |
| The CSSBI originally grew out of the needs of retiring teachers and their families when they fell on hard times. The charity's modern-day role continued to provide financial help for those in need as defined in the CSSBI Articles of Association. |
| Principal funding sources |
| The principal funding source for the activities of the charity will be the regular withdrawals from capital combined with any naturally arising income where appropriate from the cash on deposit and within the investment portfolios. |
| Reserves policy |
| The charity has total reserves of £283,578 at 31st March 2025. (2024: £2,344,649). |
| It has been agreed once all bills/invoices are paid the financial assets in the form of cash, will be equally divided between the 4 charities with similar purposes to the CSSBI. |
| The total value of all the assets remained strong and the CSSBI, although closing, was in a good position financially to help those in need, with established procedures to ensure that all transactions and projects were properly authorised. |
| STRUCTURE, GOVERNANCE AND MANAGEMENT |
| Governing document |
| The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. |
| Charity constitution |
| The Church Schoolmasters and Schoolmistresses' Benevolent Institution (CSSBI) was established on 2nd January 1857, becoming a charitable company limited by guarantee in June 1894. It is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. Company number: 41482. The trustees are all guarantors in a sum not exceeding £1 each. |
| The trustees are responsible for the general control and management of the charity. They have decided what needs to be done and how money is distributed. |
| Recruitment and appointment of new trustees |
| New Council members are recommended to the CSSBI Council by current members or by local clergy. It is preferable, but not altogether necessary, that they have a background in education. The Council must approve the nomination before the person takes up the responsibility of a trustee. |
| The trustees become members of the CSSBI Council. They are responsible for the general control and management of the charity. They decide what is to be done and how money is to be distributed to those in need. They deal with applications as they arise, and have a monthly meeting, usually by email. |
| Risk management |
| The trustees keep proper accounting records to ensure that their financial statements comply with the Companies Act 2006. They are responsible for the preparation of the accounts. They also make sure that they understand and take responsibility for safeguarding the assets of the charity. They take reasonable steps for the prevention and detection of fraud and other irregularities. |
| Approved by order of the board of trustees on |
| INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF |
| CHURCH SCHOOLMASTERS AND |
| SCHOOLMISTRESSES' BENEVOLENT INSTITUTION |
| Independent examiner's report to the trustees of Church Schoolmasters And Schoolmistresses' Benevolent Institution ('the Company') |
| I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2025. |
| 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. |
| Scott Harrower |
| Galloways Accounting (Horsham) Limited |
| Ridgeland House |
| 15 Carfax |
| Horsham |
| West Sussex |
| RH12 1DY |
| 14 July 2025 |
| CHURCH SCHOOLMASTERS AND |
| SCHOOLMISTRESSES' BENEVOLENT INSTITUTION |
| STATEMENT OF FINANCIAL ACTIVITIES |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| 2025 | 2024 |
| Unrestricted | Total |
| fund | funds |
| Notes | £ | £ |
| INCOME AND ENDOWMENTS FROM |
| Investment income | 2 |
| Other income |
| Total |
| EXPENDITURE ON |
| Raising funds | 3 |
| Charitable activities |
| Beneficiary support |
| Total |
| Net gains/(losses) on investments | ( |
) |
| NET INCOME/(EXPENDITURE) | ( |
) |
| RECONCILIATION OF FUNDS |
| Total funds brought forward |
| TOTAL FUNDS CARRIED FORWARD | 2,344,649 |
| CHURCH SCHOOLMASTERS AND |
| SCHOOLMISTRESSES' BENEVOLENT INSTITUTION (REGISTERED NUMBER: 00041482) |
| BALANCE SHEET |
| 31 MARCH 2025 |
| 2025 | 2024 |
| Unrestricted | Total |
| fund | funds |
| Notes | £ | £ |
| FIXED ASSETS |
| Investments | 9 |
| CURRENT ASSETS |
| Debtors | 10 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 11 | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| NET ASSETS |
| FUNDS | 13 |
| Unrestricted funds | 2,344,649 |
| TOTAL FUNDS | 2,344,649 |
| The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025. |
| The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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 |
| CHURCH SCHOOLMASTERS AND |
| SCHOOLMISTRESSES' BENEVOLENT INSTITUTION |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| 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. |
| Tangible fixed assets |
| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
| Computer equipment | - |
| 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. |
| Hire purchase and leasing commitments |
| Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease. |
| 2. | INVESTMENT INCOME |
| 2025 | 2024 |
| £ | £ |
| Investment income | 4,419 | 58,467 |
| Deposit account interest |
| CHURCH SCHOOLMASTERS AND |
| SCHOOLMISTRESSES' BENEVOLENT INSTITUTION |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| 3. | RAISING FUNDS |
| Investment management costs |
| 2025 | 2024 |
| £ | £ |
| Portfolio management | 1,489 | 21,033 |
| 4. | SUPPORT COSTS |
| Governance |
| Management | Finance | costs | Totals |
| £ | £ | £ | £ |
| Beneficiary support |
| 34,530 | 202 | 1,602 | 36,334 |
| 5. | NET INCOME/(EXPENDITURE) |
| Net income/(expenditure) is stated after charging/(crediting): |
| 2025 | 2024 |
| £ | £ |
| Hire of plant and machinery | 744 | 990 |
| 6. | TRUSTEES' REMUNERATION AND BENEFITS |
| There were no trustees' remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024. |
| Trustees' expenses |
| There were no trustees' expenses paid for the year ended 31 March 2025 nor for the year ended 31 March 2024. |
| 7. | COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES |
| Unrestricted |
| fund |
| £ |
| INCOME AND ENDOWMENTS FROM |
| Investment income |
| Other income |
| Total |
| EXPENDITURE ON |
| Raising funds |
| Charitable activities |
| Beneficiary support |
| Total |
| Net gains on investments |
| NET INCOME |
| RECONCILIATION OF FUNDS |
| Total funds brought forward |
| TOTAL FUNDS CARRIED FORWARD | 2,344,649 |
| CHURCH SCHOOLMASTERS AND |
| SCHOOLMISTRESSES' BENEVOLENT INSTITUTION |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| 8. | TANGIBLE FIXED ASSETS |
| Computer |
| equipment |
| £ |
| COST |
| At 1 April 2024 |
| Disposals | ( |
) |
| At 31 March 2025 |
| DEPRECIATION |
| At 1 April 2024 |
| Eliminated on disposal | ( |
) |
| At 31 March 2025 |
| NET BOOK VALUE |
| At 31 March 2025 |
| At 31 March 2024 |
| 9. | FIXED ASSET INVESTMENTS |
| Listed |
| investments |
| £ |
| MARKET VALUE |
| At 1 April 2024 |
| Additions |
| Disposals | ( |
) |
| At 31 March 2025 |
| NET BOOK VALUE |
| At 31 March 2025 | - |
| At 31 March 2024 | 2,203,119 |
| Analysis of investments: |
| 31.3.2025 | 31.3.2024 |
| Cash/Money Market | 0% | 2.10% |
| Fixed Interest - UK | 0% | 17.33% |
| Fixed Interest - Overseas | 0% | 9.01% |
| Equities - UK | 0% | 18.76% |
| Equities - Overseas | 0% | 46.46% |
| Other | 100% | 6.35% |
| Cost or valuation at 31 March 2025 is represented by: |
| Listed Investments |
| £ |
| Valuation in 2025 | 0.00 |
| If fixed asset investments had not been revalued they would have been included at the following historical cost: |
| 31.3.25 | 31.3.24 |
| £ | £ |
| Cost | 0 | 1,675,451 |
| Fixed asset investments were valued on an open market basis on 31 March 2025 by Ascot Lloyd. |
| CHURCH SCHOOLMASTERS AND |
| SCHOOLMISTRESSES' BENEVOLENT INSTITUTION |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| 10. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Other debtors |
| Prepayments |
| 11. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Trade creditors |
| Other creditors |
| Accrued expenses |
| 12. | LEASING AGREEMENTS |
| Minimum lease payments under non-cancellable operating leases fall due as follows: |
| 2025 | 2024 |
| £ | £ |
| Within one year |
| 13. | MOVEMENT IN FUNDS |
| Net |
| movement | At |
| At 1.4.24 | in funds | 31.3.25 |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 2,344,649 | (2,061,071 | ) | 283,578 |
| TOTAL FUNDS | (2,061,071 | ) | 283,578 |
| 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 | 6,864 | (2,037,844 | ) | (30,091 | ) | (2,061,071 | ) |
| TOTAL FUNDS | ( |
) | ( |
) | (2,061,071 | ) |
| Comparatives for movement in funds |
| Net |
| movement | At |
| At 1.4.23 | in funds | 31.3.24 |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 2,258,083 | 86,566 | 2,344,649 |
| TOTAL FUNDS | 2,258,083 | 86,566 | 2,344,649 |
| CHURCH SCHOOLMASTERS AND |
| SCHOOLMISTRESSES' BENEVOLENT INSTITUTION |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2025 |
| 13. | MOVEMENT IN FUNDS - continued |
| 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 | 64,478 | (201,708 | ) | 223,796 | 86,566 |
| TOTAL FUNDS | 64,478 | (201,708 | ) | 223,796 | 86,566 |
| A current year 12 months and prior year 12 months combined position is as follows: |
| Net |
| movement | At |
| At 1.4.23 | in funds | 31.3.25 |
| £ | £ | £ |
| Unrestricted funds |
| General fund | 2,258,083 | (1,974,505 | ) | 283,578 |
| TOTAL FUNDS | 2,258,083 | (1,974,505 | ) | 283,578 |
| A current year 12 months and prior year 12 months combined 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 | 71,342 | (2,239,552 | ) | 193,705 | (1,974,505 | ) |
| TOTAL FUNDS | 71,342 | (2,239,552 | ) | 193,705 | (1,974,505 | ) |
| 14. | RELATED PARTY DISCLOSURES |