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2021-12-31-accounts

Report and Accounts The Anglican Centre in Rome

31 December 2021

The Anglican Centre in Rome

Company No. 2604444 Charity No. 1003666

PRESIDENT

The Most Revd Justin Welby

GOVERNORS

The Rt Revd Michael Burrows, The Revd Dr William Adam Mr Tony Briggle The Very Revd Kurt Dunkle The Most Revd Dr Philip Freier The Rt Revd David Hamid The Revd Canon Dr Jamie Hawkey The Most Revd Dr Josiah Idowu-Fearon The Most Revd Dr Paul Kwong The Revd Martin Macdonald Ms Louisa Mojela The Rt Revd Catherine Waynick Mr. Wayne Wentz

Ireland (Chairman) UK USA USA Australia UK UK Nigeria China UK (Treasurer – outgoing) South Africa USA (resigned – 18 November 2021) Italy (Treasurer - appointed 18 Nov 2021)

SECRETARY

Revd Dr William Adam

INDEPENDENT EXAMINER

J I Borucki FCA 42 Radnor Road Harrow HA1 1RZ

REGISTERED OFFICE

St Andrew’s House 16 Tavistock Crescent London W11 1AP

1

The Anglican Centre in Rome

DIRECTORS’ AND TRUSTEES’ REPORT

The governors, who are directors for Companies Act purposes and trustees for Charities Act purposes, present their report and accounts for the year ended 31 December 2021.

OBJECTIVES, ACTIVITIES AND THE PUBLIC BENEFIT

The company’s principal activity is the advancement of Christian unity through the activities of the Anglican Centre in Rome.

The company was created in 1990 to manage the activities of the Centre for the Archbishop of Canterbury and for the Anglican Communion and to raise the funds required to support these activities.

Rome is the headquarters of the Catholic Church. We have as the Anglican Communion, a common history with our Roman Catholic brothers and sisters up to the sixteenth century. Then for many centuries relationships between Anglicans and Catholics were not good – and from time to time very bad indeed with persecutions and martyrdoms on both sides. However, over the last century things have changed. Hundred years ago, a small group of Anglicans and Catholics in Europe started to talk together in the Belgian town of Malines.

In 1966, the Most Reverend Michael Ramsey, Lord Archbishop of Canterbury visited His Holiness Paul VI and following this historic visit, the Anglican Centre in Rome was established through the encouragement of Donna Orietta and Don Pogson Doria Pamphilj, Ecumenical pioneers and the Founding benefactors of this unique place of encounter.

The mission of the Anglican Centre is to strengthen and encourage ecumenical relations, especially those between the Roman Catholic Church and the Anglican Communion.

Firstly, the primary vision of the Anglican Centre in Rome is to build bridges and instill a good spirit of collaboration between the institutions of the Anglican Communion and the Roman Catholic Church. It serves as a place of hospitality and its vocation is to show signs of visible collaboration by concrete pronouncements and actions in a troubled, divided, confused and desperate world where there is a thirst for Communion, hope and respect.

Secondly, it has the responsibility to organize Seminars and Forums that enable people to know more about the Ecumenical journey established after Vatican 2 and to engage in conversations that can offer new insights, thoughts and rich ecumenical initiatives. This enables the two Churches to contribute more effectively to the great work of reconciliation and the creation of unity amongst humanity.

The Centre provides:

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The Anglican Centre in Rome

DIRECTORS’ AND TRUSTEES’ REPORT

When planning the charity’s activities, the Trustees have regard to the Charity Commissioners’ guidance on public benefit and in particular to the specific guidance on charities for the advancement of religion.

During the year the Centre employed a Director and a full time Centre Manager. The Centre occupies an apartment within the historic Palazzo Doria Pamphilj, the largest private palace in central Rome. The Centre comprises:

In its work in Rome, the Anglican Centre is a living witness to the commitment of the Anglican Communion to the search for unity with the Roman Catholic Church.

Each year the intention is for the Anglican Centre in Rome to run courses for clergy and laity from all over the world and courses for theological students. However, the pandemic has curtailed some of the Centre’s activities in this last year

The overall governance of the charity and much of the fund-raising activity of the Centre is handled by volunteers.

ACTIVITIES AND OPERATIONS

During 2019 there was significant restructuring and personnel change to ensure that the Centre is well positioned for its continuing and developing ministry. The Most Revd Ian Ernest, then Bishop of Mauritius and a former Primate of the Church of the Province of the Indian Ocean, was appointed to the role. Archbishop Ernest and his wife relocated to Rome at the end of September, and he took up the post of Director from the beginning of October 2019. On 13 November a service commissioning was held at which the Archbishop of Canterbury formally installed Archbishop Ernest as Director of the Centre and as his personal representative to the Holy See. A private audience with His Holiness Pope Francis was also held that day.

Archbishop Ernest undertook a comprehensive and energetic induction programme to maintain and develop contacts within the Holy See, in maintaining the Anglican Centre as a place of prayer, worship and hospitality and in developing the ministry of the Centre in Rome.

Starting in 2020 with the Covid pandemic, we found ourselves in an unusual situation and we had to adapt. Fortunately, with the use of communication technologies, we have been able to maintain our presence throughout the pandemic as a place of dialogue, encounter, prayer and learning. Our weekly Tuesday Eucharist is now being viewed on Facebook and we have more than five hundred followers.

At the beginning of the lockdown, we were quite discouraged as we thought that it would be difficult to organize courses - which form part of our vocation as an Ecumenical Institution. However, with the help of the Trustees, we set a plan for the realization of online courses which continued into 2021. They have covered an array of subjects from

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The Anglican Centre in Rome

DIRECTORS’ AND TRUSTEES’ REPORT

Ecumenical dialogue, Inter Church Marriage, St John Henry Newman as an ecumenical bridge and, latterly, on the Ecological crisis, by engaging a conversation between Faith and Science.

The Anglican Centre has an important ambassadorial role which can be used to raise awareness on important issues. Even before the various lockdowns, the director was able to visit some dignitaries at the Vatican as featured on the ACR Website. In 2021, this led to regular and expanded meetings with the leadership of some Dicasteries of the Vatican and Academic Institutions in Rome. Moreover, ties of friendship with other Christian denominations have been developed, contacts have been made and these relationships are being nurtured. These relationships enable us to work together on some of the most pressing issues of our time.

SELECTED 2021 ACTIVITIES

During his visit to Rome at the beginning of October 2021, the Archbishop of Canterbury together with members of his delegation and the director met with His Eminence Cardinal Mario Grech, and Sister Nathalie Becquart, respectively the General Secretary and the Under Secretary of the Synod of Bishops. It allowed us to know more of the process preceding the synodal journey and Archbishop Justin then, eloquently shared the Anglican experience which ignited a great interest on the part of the Roman Catholic delegation. As the Personal Representative of the Archbishop of Canterbury, the Holy See invited the director to attend the inaugural ceremony and to participate in a discussion group.

4

The Anglican Centre in Rome

DIRECTORS’ AND TRUSTEES’ REPORT

FINANCIAL REVIEW

Reserves policy

It is the company’s objective to eliminate the deficit by operating at a surplus and to raise funds to increase the Endowment Fund in order to secure the future of the Centre in the longer term. The company is prohibited by its Memorandum and Articles of Association from paying dividends.

Results for the year

During the year ended 31 December 2021 the net surplus amounted to £110,883. Funds raised during the year to meet operating expenses totalled £398,877, of which £169,682 was raised through a special appeal.

Fund surplus

The accumulated surplus on unrestricted funds amounts to £133,017 and an equivalent amount has been transferred to Endowment funds.

Reserves

The Centre had an Endowment Fund amounting to £226,904 at the beginning of the year and this has been increased by the surplus for the year of £133,017, leaving £359,921 to generate income and, if necessary, to meet existing or future operating deficits.

Principal funding sources

The principal funding sources are the archbishops and bishops of the Anglican Communion, together with individuals, trusts and parishes. In 2021 donations of £74,397 were received in the United Kingdom, £50,634 was received from America, £8,772 from Hong Kong and the Far East, £3,036 in mainland Europe, £10,000 from the Anglican Consultative Council, £30,000 from the Archbishop of Canterbury’s Anglican Communion Fund.

2021 Special Appeal

Due to financial concerns developed during the Covid pandemic A special appeal was conducted raising £169,682. These funds will add to the reserves and attempts will be made to limit spending for regular operations as such an appeal will not be sustainable for ongoing planning.

Expenditure

The expenditure incurred relates principally to the costs of leasing and maintaining the Centre together with the costs of the staff based at the Centre, being the Director and support staff. From September 2019 reduced staffing resulted in reduced operational expenditure which continued into 2021. Minor staffing reductions may occur in 2022. Investment policy.

Under the memorandum and articles, the company has the power to make any investment which the directors think fit. It is the company’s policy to hold approximately 50% of the value of the Endowment Fund in equity investments managed in accordance with the

5

The Anglican Centre in Rome

DIRECTORS’ AND TRUSTEES’ REPORT

ethical policies recommended by the Church of England. In addition, approximately 10% is invested in a UK Property Fund for Charities, although these proportions have not been maintained in the year as it was necessary to realise investments with a value of £150,000 to fund the operation of the Centre and the deficit it incurred in 2018 and 2020. During the year worldwide equity markets recovered from the previous year and the Centre benefitted from an unrealised gain of £19,050, compared with the previous year of £5,787, on its investments.

FUTURE DEVELOPMENTS

The Centre is the base for the Representative of the Archbishop of Canterbury to the Holy See who is also the Director of the Centre and as such the Trustees continue to seek to raise additional funds to enable the Centre to enhance the support provided to the Director in both these roles. The director will travel to Southeast Asia and to America in 2022 to raise awareness and support.

The Centre is increasingly a place of meeting not only for Anglicans and Roman Catholics, but also for Anglicans of different backgrounds. It aims to help Anglicans understand one another and their common heritage as a necessary aspect of engaging with other Christian traditions and confessions. It is becoming a crucial resource for strengthening our own Anglican identity as well as interpreting it to others and seeks to be somewhere where all members of the diverse Anglican family can feel at home.

A few projects are already in the pipeline such as “A Vision Explored” which aims at welcoming Anglican seminarians for a week of learning and pilgrimage in Rome. We are now investigating in the possibility of inviting deacons, priests, bishops and interested laypeople of the Anglican Communion to register for a Diploma Course or a sabbatical time of Study at the Angelicum, St Thomas Aquinas University in Rome. A young Pakistani woman from the Church of Pakistan, with logistical support from the Centre will enroll at the Angelicum Pontifical Institute to follow a one-year Diploma Course in Ecumenical Studies for Academic year 2022-23.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The Anglican Centre in Rome is a company limited by guarantee, registered in England (Registration No. 2604444). It is also registered as a charity (Charity No. 1003666). The governing document is the Memorandum and Articles of Association of the company which have been revised and approved at an Extraordinary General Meeting held on 30 April 2020.

Trustees

The Anglican Centre is governed by a Board of Governors whose president is the Archbishop of Canterbury and whose chairman is The Rt Revd Michael Burrows. The following persons shall, either by virtue of their role or nomination, be Trustees:

(1) The President of the Anglican Centre in Rome (being the Archbishop of Canterbury as President of the Anglican Consultative Council); as an ex officio Trustee.

(3) Two persons nominated by the Standing Committee of the Anglican Consultative Council;

(4) The Secretary-General of the Anglican Consultative Council, or a person from

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The Anglican Centre in Rome

DIRECTORS’ AND TRUSTEES’ REPORT

among the senior staff at the Anglican Communion Office nominated by the SecretaryGeneral;

(5) The Anglican Co-Chair of the Anglican-Roman Catholic International Commission (ARCIC), or a person from among the members of that Commission nominated by the Co-Chair;

(6) The Anglican Co-Chair of the International Anglican-Roman Catholic Commission for Unity and Mission (IARCUM), or a person from among the members of that Commission nominated by the Co-Chair;

(7) The Chair of the UK Friends of the Anglican Centre in Rome or a person nominated from the members of that group by that Chair;

(8) The Chair of the USA Friends of the Anglican Centre in Rome or a person nominated from the members of that group by that Chair.

The Trustees may appoint up to four further Trustees with consideration given to the need for a broad range of skills within the Trustee body, including but not limited to communications, finance, fundraising, risk management and strategic planning, and to ensure that relevant stakeholder bodies are appropriately represented among the Trustees. The Trustees have exercised this power and have appointed four further Trustees. Induction and training of trustees

The policies and procedures of the company are explained to new governors by the chairman and the company secretary.

Organisational structure and decision-making process

The Governors, who meet at least twice a year, administer the charity. The day to day operations of the Centre are managed by the Director of the Centre under the overall supervision of the chairman, the treasurer and the company secretary. The Director of the Centre is appointed by the governors in consultation with the Archbishop of Canterbury. Related parties and wider networks

The activities of the Centre are supported by a number of Friends’ organisations in different parts of the Anglican Communion, principally in the UK, the USA (The American Friends of the Anglican Centre in Rome), Australia and New Zealand.

Risk Management

The major risks to which the company is exposed have been reviewed and procedures have been established to mitigate those risks. The main risk is considered to be the risk of failure to raise adequate funds to cover the annual running costs of the Centre – the company has a Development Committee in the UK responsible for leading the UK fundraising activity. This committee is supported by a Development Officer with fundraising experience. In other countries, the Friends organisations are actively involved in raising funds on an annual basis at levels agreed with the Governors. The Governors are also seeking to raise funds for the Endowment Fund so that the income generated will reduce the requirement for annual fundraising in future years.

REFERENCE AND ADMINISTRATION DETAILS

Legal and administrative information set out on page 1 forms part of this report.

The current directors, who are designated Governors, are listed on page 1. All the Governors served throughout the year, except for Mr Wayne Wentz who was appointed November 18, 2021. The company secretary, David White, resigned on 1 February 2021 with Revd Martin Macdonald acting as secretary until Revd Dr William Adam was appointed on 29 April 2021.

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The Anglican Centre in Rome

DIRECTORS’ AND TRUSTEES’ REPORT

The accounts comply with current statutory requirements, the Memorandum and Articles of Association of the company and the Charities Statement of Recommended Practice (FRS 102).

By order of the board

Revd Dr William Adam Secretary 28 September 2021

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The Anglican Centre in Rome

STATEMENT OF TRUSTEES’ RESPONSIBILITIES WITH REGARD TO THE ACCOUNTS

The trustees (who are also the directors for the purposes of company law) are responsible for preparing the Trustees' Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:

• select suitable accounting policies and then apply them consistently;

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation.

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

.

9

REPORT OF THE INDEPENDENT EXAMINER

to the Trustees and Directors of the Anglican Centre in Rome (a company limited by guarantee)

I report on the accounts of the charitable company for the year ended 31 December 2021, which are set out on pages 11 to 20.

Respective responsibilities of trustees and examiner

The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act).

Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:

Basis of independent examiner’s report

My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.

Independent Examiner’s statement

In connection with my examination, no matter came to my attention:

J I Borucki FCA Chartered Accountants and Registered Auditor 42 Radnor Road Harrow HA1 1RZ

28 September 2022

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The Anglican Centre in Rome

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES

(INCLUDING CONSOLIDATED INCOME AND EXPENDITURE ACCOUNT) for the year ended 31 December 2021

Note
INCOME
Income from generated funds
Voluntary income
Donations
Grants for bursaries
Activities for generating funds
Investment income
Income from Charitable activities
Income from seminars
Income from bookstall and publications
Other income
Furlough grants
TOTAL INCOME
EXPENDITURE
Cost of generating funds
Cost of generating voluntary income
Fundraising costs
Charitable activities
Direct costs of seminars
Administrative expenses
Governance costs
TOTAL EXPENDITURE
NET INCOME/(EXPENDITURE)
Transfers (from)/to
13
Endowment fund
Bursaries fund
Travel funds
NET INCOME/(EXPENDITURE) AFTER
TRANSFERS
Other recognised gains /(losses)
Unrealised gain on investment assets
NET INCOME/(LOSS) FOR THE YEAR
Fund balances brought forward
at the beginning of the year
Fund balances carried forward
at the end of the year		 Unrestricted
funds
Restricted
income funds
Endowment
funds
Total
2021
2021
2021
2021
£
£
£
£
392,403
-
-
392,403
-
-
-
-
248
-
-
248
4,783
-
-
4,783
-
-
-
-
1,443
-
-
1,443
8,561
-
-
8,561		 Unrestricted
funds
Restricted
income funds
Endowment
funds
Total
2020
2020
2020
2020
£
£
£
£
143,972
-
-
143,972
-
25,000
-
25,000
-
-
-
-
4,768
-
-
4,768
1,437
-
-
1,437
-
-
-
-
407,438
-
-
407,438		 150,177
25,000
-
175,177
27,819
-
-
27,819
98
-
-
98
-
-
-
-
263,580
-
-
263,580
5,058
-
-
5,058		 30,000
-
-
30,000
908
-
-
908
-
-
-
-
238,603
-
-
238,603
6,184
-
-
6,184
296,555
-
-
296,555		 275,695
-
-
275,695
110,883
-
-
110,883
(133,017)
-
133,017
-
3,084
(3,084)
-
-
-
-
-
-		 (125,518)
25,000
-
(100,518)
119,731
-
(119,731)
-
-
-
-
-
-
-
-
-
(19,050)
(3,084)
133,017
110,883
-
19,050
-
-
19,050		 (5,787)
25,000
(119,731)
(100,518)
5,787
-
-
5,787
-
(3,084)
133,017
129,933
-
107,774
226,904
334,678		 -
25,000
(119,731)
(94,731)
-
82,774
346,635
429,409
-
104,690
359,921
464,611		 -
107,774
226,904
334,678

11

The Anglican Centre in Rome

STATEMENT OF FINANCIAL ACTIVITIES

for the year ended 31 December 2021

Note
Unrestricted
funds
Restricted
income funds
Endowment
funds
Total
2021
2021
2021
2021
£
£
£
£
INCOME
Income from generated funds
Voluntary income
Donations
392,403
-
-
392,403
Grants for bursaries
-
-
-
Activities for generating funds
-
-
-
-
Investment income
4,783
-
-
4,783
Income from Charitable activities
Income from publications
1,691
-
-
1,691
Other income
Furlough grants
8,561
-
-
8,561
TOTAL INCOME
407,438
-
-
407,438
EXPENDITURE
Cost of generating funds
Cost of generating voluntary income
27,819
-
-
27,819
Fundraising costs
98
-
-
98
Charitable activities
Grants for administrativer expenses
of subsidiary undertaking in Italy
250,000
-
-
250,000
Administrative expenses
17,032
-
-
17,032
Governance costs
1,333
-
-
1,333
TOTAL EXPENDITURE
296,282
-
-
296,282
NET INCOME/(EXPENDITURE)
111,156
-
-
111,156
Transfers from
13
Endowment fund
(133,017)
-
133,017
-
Bursaries fund
3,084
(3,084)
-
-
Travel funds
-
-
-
-
NET INCOME/(EXPENDITURE)
AFTER TRANSFERS
(18,777)
(3,084)
133,017
111,156
Other recognised gains /(losses)
Unrealised gain on investment assets
19,050
-
-
19,050
NET INCOME/(LOSS) FOR THE YEAR
273
(3,084)
133,017
130,206
Fund balances brought forward
at the beginning of the year
(5,610)
107,774
226,904
329,068
Fund balances carried forward
at the end of the year
(5,337)
104,690
359,921
459,274		 Unrestricted
funds
Restricted
income funds
Endowment
funds
Total
2021
2021
2021
2021
£
£
£
£
392,403
-
-
392,403
-
-
-
-
-
-
-
4,783
-
-
4,783
1,691
-
-
1,691
8,561
-
-
8,561		 Unrestricted
funds
Restricted
income funds
Endowment
funds
Total
2020
2020
2020
2020
£
£
£
£
143,972
-
-
143,972
-
25,000
-
25,000
-
-
-
-
4,768
-
-
4,768
-
-
-
-
-
-
-
-
407,438
-
-
407,438		 148,740
25,000
-
173,740
27,819
-
-
27,819
98
-
-
98
250,000
-
-
250,000
17,032
-
-
17,032
1,333
-
-
1,333		 30,000
-
-
30,000
908
-
-
908
214,000
-
-
214,000
26,455
-
-
26,455
3,896
-
-
3,896
296,282
-
-
296,282		 275,259
-
-
275,259
111,156
-
-
111,156
(133,017)
-
133,017
-
3,084
(3,084)
-
-
-
-
-
-		 (126,519)
25,000
-
(101,519)
119,731
-
(119,731)
-
-
-
-
-
-
-
-
-
(18,777)
(3,084)
133,017
111,156
19,050
-
-
19,050		 (6,788)
25,000
(119,731)
(101,519)
5,787
-
-
5,787
(1,001)
25,000
(119,731)
(95,732)
(4,609)
82,774
346,635
424,800
(5,337)
104,690
359,921
459,274		 (5,610)
107,774
226,904
329,068

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The Anglican Centre in Rome

BALANCE SHEETS
at 31 December 2021
Note
FIXED ASSETS
Leasehold improvements and equipment
8
Investments
9
Subsidiary undertaking
10
CURRENT ASSETS
Inventory
Debtors
11
Cash at bank and in hand
CREDITORS: amounts falling due
within one year
12
NET CURRENT ASSETS
NET ASSETS
CAPITAL AND RESERVES
Capital funds
Endowment fund
13
Income funds
Restricted funds
Travel fund
13
Bursaries Fund
13
Unrestricted funds
General Fund
13		 Group
Company
2021
2021
£
£
28,860
12,531
165,851
165,851
-
-
194,711
178,382
167
-
68,678
55,613
250,719
247,496
319,564
303,109
49,664
22,217
269,900
280,892
464,611
459,274
359,921
359,921
3,896
3,896
100,794
100,794
-
(5,337)
464,611
459,274		 Group
Company
2020
2020
£
£
37,949
15,875
146,801
146,801
-
-
184,750
162,676
167
-
60,055
54,926
134,232
130,558
194,454
185,484
44,526
19,092
149,928
166,392
334,678
329,068
226,904
226,904
3,896
3,896
103,878
103,878
-
(5,610)
334,678
329,068

For the year ended 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies

Directors responsibilities

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476,

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime

28 September 2022

Wayne Wentz Treasurer

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The Anglican Centre in Rome

STATEMENT OF CASH FLOWS

for the year ended 31 December 2021

Cash flows from operating activities:
Net cash provided by (used in) operating activities
Cash flows from investing activities
Investment income
Sale of investments
Purchase of property, plant and equipment
Net cash provided by (used in) investing activities
Cash flows from financing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Change in cash and cash equivalents due to exchange
rate movements
Cash and cash equivalents at the end of the year		 Total
Total
2021
2020
£
£
112,066
(78,125)
4,783
4,768
-
-
-
(14,135)
4,783
(9,367)
116,849
(87,492)
134,232
218,871
(362)
2,853
250,719
134,232

Reconciliation of net income/(expenditure) to net cash flow from operating activities

Net income (expenditure) for the year (as per the
statement of financial activities)
Adjustments for:
Depreciation charges
(Gains)/losses on investments
Exchange rate movements
Investment income
(Increase)/decrease in stocks
(Increase)/decrease in debtors
Increase/(decrease) in creditors
Net cash provided by (used in) operating activities		 Total
Total
2020
2020
£
£
129,933
(94,731)
9,089
9,008
(19,050)
(5,787)
362
(2,853)
(4,783)
(4,768)
-
-
(8,623)
21,843
5,138
(837)
112,066
(78,125)

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The Anglican Centre in Rome

NOTES TO THE ACCOUNTS at 31 December 2021

1. ACCOUNTING POLICIES

Limited liability

The company is limited by guarantee and does not have a share capital. Each member of this company undertakes to contribute to the assets of the company in the event of it being wound up, such amount as may be required but not exceeding £10.

Basis of preparation

The accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and the Charities Act 2011. The company constitutes a public benefit entity as defined by FRS 102.

The directors consider that there are no material uncertainties about the company’s ability to continue as a going concern.

The accounts present the consolidated balance sheet, statement of financial activities and income and expenditure account comprising the activities of The Anglican Centre in Rome, an English company limited by guarantee registered as a charity, and its subsidiary undertaking, an Italian unrecognised religious association also called The Anglican Centre in Rome which undertakes the activities of the charity in Italy.

Income

All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. Donations are recognised when the charity has been notified in writing of both the amount and settlement date.

Legacies are recognised on a case by case basis following the granting of probate when the administrator/executor for the estate has communicated in writing both the amount and settlement date.

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

Costs of generating voluntary income

These expenses are reflected as an expense in the Statement of Financial Activities and an appropriate proportion is treated as a reduction of funds raised transferred to the Endowment Fund.

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 settlement will be required and the amount of the obligation can be measured reliably.

Expenditure on charitable activities comprises direct expenses incurred on the defined charitable purposes of the charity and includes staff costs attributable to the activity. Governance costs comprise of expenditure on compliance with and advice on constitutional and statutory matters.

As all expenditure can be attributed to specific categories no apportionment between headings has been necessary. Irrecoverable VAT is included in the items of expenditure to which it relates.

15

The Anglican Centre in Rome

NOTES TO THE ACCOUNTS

at 31 December 2021

Depreciation

Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost less estimated residual value of each asset evenly over its expected useful life, or over the lease term, whichever is the shorter. Leasehold improvements are subject to amortisation over the term of the relevant lease.

Foreign currencies

Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction.

Monetary assets and liabilities denominated in foreign currencies are retranslated at the rate of exchange ruling at the balance sheet date. All differences are taken to the income and expenditure account.

2. TURNOVER

Turnover includes income from seminars which represents amounts billed to third parties for seminars held during the year.

3. EXCESS OF INCOME OVER EXPENDITURE

EXCESS OF INCOME OVER EXPENDITURE
2021 2020
£ £
This is stated after charging:
Independent Examiners’ remuneration		 1,460 1,460
Directors’ remuneration - -
Operating lease rentals-land and buildings 32,163 32,662
Depreciation of leasehold improvements 5,417 5,868
Depreciation of equipment 3,672 3,140
––––––––––– –––––––––––
STAFF COSTS
2021 2020
£ £
Salaries and wages
Charitable activities		 109,670 85,617
Cost of generating funds 27,818 30,000
Social security costs
Charitable activities 28,180 30,721
Cost of generating funds - -
Other payroll costs
Charitable activities		 6,420 6,420
Cost of generating funds 600 600
———— ————
172,688 153,358
———— ————

4. STAFF COSTS

The average number of employees during the year was as follows: Charitable activities 3 Generating funds 2 No employee earned more than £60,000 per annum (2020 - nil)

16

The Anglican Centre in Rome

NOTES TO THE ACCOUNTS

at 31 December 2021

5. GOVERNANCE COSTS

Independent Examiners fees
Other professional fees
Governors’ expenses
6.
TRUSTEES EXPENSES
Travel and accommodation -0 trustees (2020 – nil)
Entertaining & subsistence		 2021
£
1,460
3,598
-
————
5,058
————
2021
£
-
-
————
-
————		 2020
£
1,460
4,724
-
————
6,184
————
2020
£
-
-
————
-
————

As a result of the restrictions for travelling during the pandemic, all trustees meetings were held remotely. No remuneration was paid to the trustees during the year. (2020 – nil)

7. TAXATION

The company, as a registered charity, is exempt from taxation on its income and gains falling within Section 505 of the Taxes Act 1988 or Section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that they are applied to its charitable objectives. No tax charge has arisen in the year.

8. FIXED ASSETS - LEASEHOLD IMPROVEMENTS AND EQUIPMENT

Cost
Balance at 1 January
2021
Additions for the period
Movement on exchange
Balance at 31 December
2021
Depreciation
Balance at 1 January
2021
Charge for the period
Movement on exchange
Balance at 31 December
2021
Net book value
At 31 December 2021
At 1 January 2021		 Leasehold
improvements
Group
Leasehold
improvements
Company
Equipment
Group
Equipment
Company
Total
Group
Total
Company
£
£
£
£
£
£
252,169
227,704
42,857
534
295,026 228,238
-
-
-
-
-
-
-
-
-
-
-
-
252,169
227,704
42,857
534
295,026 228,238
226,653
212,363
30,424
-
257,077 212,363
5,417
2,810
3,672
534
9,089
3,344
-
-
-
-
-
-
232,070
215,173
34,096
534
266,166 215,707
20,099
12,531
8,761
-
28,860
12,531
25,516
15,341
12,433
534
37,949
15,875

17

The Anglican Centre in Rome

NOTES TO THE ACCOUNTS at 31 December 2021

9. FIXED ASSETS - INVESTMENTS

Market value-1 January
Additions/(disposals)
Unrealised investment (loss)/gain
Market value-31 December
Analysis of investments at 31 December 2021
CBF Church of England Investment Fund Income Shares
Charity Property Fund
Market value-31 December 2021
Historical cost-31 December 2021		 Company and Group
2021
2020
£
£
146,801
141,014
-
-
19,050
5,787
————————————
165,851
146,801
————————————		 Company and Group
2021
2020
£
£
146,801
141,014
-
-
19,050
5,787
————————————
165,851
146,801
————————————
124,373
41,478
————————
165,851
———
91,733
——————		 108,737
38,064
————
146,801
————
91,733
——————

10. FIXED ASSETS - SUBSIDIARY UNDERTAKING

On 1 October 1998 the activities in Italy of the company were transferred to an Italian unrecognised religious association also called The Anglican Centre in Rome. The directors of the company are also the only members of the Governing body of the Italian unrecognised religious association, which is therefore considered to be a subsidiary undertaking.

11. DEBTORS

Income tax recoverable
Due from subsidiary undertaking
Other debtors
Prepayments and accrued income
CREDITORS:amounts falling due within one year
Creditors
Accrued liabilities
Due to subsidiary undertaking		 Group
Company
2021
2021
£
£
26,700
26,700
-
-
40,742
28,913
1,236
-
——————
——————
68,678
55,613
——————
——————
Group
Company
2021
2021
£
£
4,675
4,675
44,989
5,206
-
12,336
——————
——————
49,664
22,217
——————
——————		 Group
Company
2020
2020
£
£
34,375
34,375
-
11,430
20,891
9,121
4,789
-
——————
——————
60,055
54,926
——————
——————
Group
Company
2020
2020
£
£
4,675
4,675
39,851
14,417
-
-
——————
——————
44,526
19,092
——————
——————

12. CREDITORS: amounts falling due within one year

18

The Anglican Centre in Rome

NOTES TO THE ACCOUNTS at 31 December 2021

13. RECONCILIATION OF FUNDS AND MOVEMENTS ON RESERVES

Group
At 1 January 2020
Net outgoing resources before transfers
Transfer from Endowment Fund
Unrealised gains/(losses) on investments
Net surplus/(deficit) for the year
At 31 December 2020
Net incoming resources before transfers
Transfer to Endowment Fund
Transfer from Bursaries Fund
Unrealised gains/(losses) on investments
Net surplus/(deficit) for the year
At 31 December 2021
Company
At 1 January 2020
Net outgoing resources before transfers
Transfer from Endowment Fund
Unrealised gains/(losses) on investments
Net surplus/(deficit) for the year
At 31 December 2020
Net incoming resources before transfers
Transfer to Endowment Fund
Transfer from Bursaries Fund
Unrealised gains/(losses) on investments
Net surplus/(deficit) for the year
At 31 December 2021		 Income and
Expenditure
account
Endowment
Fund
Bursaries
Fund
Travel
Fund
Total
£
£
£
£
£
-
346,635
78,878
3,896
429,409
(125,518)
-
25,000
-
(100,518)
119,731
(119,731)
-
-
-
5,787
-
-
-
5,787
-
(119,731)
25,000
-
(94,731)
-
226,904
103,878
3,896
334,678
110,883
-
-
-
110,883
(133,017)
133,017
-
-
-
3,084
-
(3,084)
-
-
19,050
-
-
-
19,050
-
133,017
(3,084)
-
129,933
-
359,921
100,794
3,896
464,611
(4,609)
346,635
78,878
3,896
424,800
(126,519)
-
25,000
-
(101,519)
119,731
(119,731)
-
-
-
5,787
-
-
-
5,787
(1,001)
(119,731)
25,000
-
(95,732)
(5,610)
226,904
103,878
3,896
329,068
111,156
-
-
-
111,156
(133,017)
133,017
-
-
-
3,084
-
(3,084)
-
-
19,050
-
-
-
19,050
273
133,017
(3,084)
-
130,206
(5,337)
359,921
100,794
3,896
459,274

Endowment Fund

The Endowment Fund, which is an expendable endowment fund, represents funds raised by an Appeal to the members of the worldwide Anglican Communion. It is the intention of the directors to build up this fund in order to provide income for the benefit of The Anglican Centre in Rome on the basis that, if necessary, it may be expended to meet existing or future operating deficits. During the year £133,017 has been transferred to the Endowment fund from the Unrestricted Income fund.

19

The Anglican Centre in Rome

NOTES TO THE ACCOUNTS

at 31 December 2021

Bursaries Fund

The Bursaries Fund represents funds donated to enable Catholics and Anglicans to attend courses together to strengthen and encourage ecumenical relations and also funds raised to enable Anglican clergy from the developing world to attend courses at the Centre.

Travel Fund

The Travel Fund represents funds raised to finance travel expenses incurred by Governor to attend meetings.

14. ANALYSIS OF NET ASSETS BETWEEN FUNDS

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||||||| |---|---|---|---|---|---| |Unrestricted|Restricted| |Income|Income Endowment|2021|2020| |Funds|Funds|Fund|Total|Total| |Fund balances at 31 December 2021| |are represented by:| |£|£|£|£|£| |-|-| |Tangible fixed assets|28,860|28,860|37,949| |Fixed asset investments|-|-|165,851|165,851|146,801| |Current assets|20,804|104,690|194,070|319,564|194,454| |Current Liabilities|(49,664)|-|-|(49,664)|(44,526)| |————— —————————— ————— —————| |Total net assets|-|104,690|359,921|464,611|334,678| |————— —————————— ————— —————| |Unrestricted|Restricted| |Income|Income Endowment|2020|2019| |Funds|Funds|Fund|Total|Total| |Fund balances at 31 December 2020| |are represented by:| |£|£|£|£|£| |-|-| |Tangible fixed assets|37,949|37,949|32,822| |Fixed asset investments|-|-|146,801|146,801|141,014| |Current assets|6,577|107,774|80,103|194,454|300,936| |Current Liabilities|(44,526)|-|-|(44,526)|(45,363)| |————— —————————— ————— —————| |Total net assets|-|107,774|226,904|334,678|429,409| |————— —————————— ————— —————|

----- End of picture text -----

15. FINANCIAL COMMITMENTS

At 31 December 2021 the company had annual commitments totalling £31,050 under noncancellable operating leases for land and buildings expiring within more than five years - (2020 £28,200)

20