Report and Accounts The Anglican Centre in Rome
31 December 2022
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 Mrs Angel Hon Ms Louisa Mojela The Rt Rev Anthony Poggo Mr. Wayne Wentz
SECRETARY
Revd Dr William Adam Dr Christopher Wells
Ireland (Chairman) UK USA USA Australia UK UK Hong Kong, China South Africa South Sudan Italy (Treasurer) (Resigned 17 November 2022) (Appointed 17 November 2022)
INDEPENDENT EXAMINER
J I Borucki FCA 42 Radnor Road Harrow HA1 1RZ
REGISTERED OFFICE
St Andrew’s House 16 Tavistock Crescent London W11 1AP
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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 2022.
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 instil 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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theological resources to support ecumenical discussions, co-operation and prayer;
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learning opportunities for those who are visiting Rome;
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information on the progress of inter-church relations;
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The Anglican Centre in Rome
DIRECTORS’ AND TRUSTEES’ REPORT
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liaison with the Vatican dicasteries - its Councils and Committees; and
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publications including the newsletter “Centro”.
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:
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the largest library on Anglicanism in mainland Europe: more than 12,000 volumes, in addition to journals, periodicals and church newspapers
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a dual-purpose Reading and Lecture Room;
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a large Reception Room for official use;
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office facilities;
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a Chapel; and
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private accommodation for the Director and two guest flats.
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, the Centre found itself in an unusual situation and had to adapt. Fortunately, with the use of communication technologies, they have been able to maintain their presence throughout the pandemic as a place of dialogue, encounter, prayer and learning. The weekly Tuesday Eucharist is now being viewed on Facebook and there are more than five hundred followers.
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DIRECTORS’ AND TRUSTEES’ REPORT
At the beginning of the lockdown, which was quite discouraging as it was thought that it would be difficult to organize courses - which form part of the vocation as an Ecumenical Institution. However, with the help of the Trustees, a plan for the realization of online courses continued into 2022. They have covered an array of subjects from 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 2022 ACTIVITIES
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Guest preachers at our Tuesday Eucharists-We at the ACR, had the joy of welcoming Cardinals, Anglican and Episcopal Bishops and Priests, and Methodists and other clergy to be our guest preachers.
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Promotion for Spiritual Ecumenism- It is now established that we have an ecumenical prayer group which meets every Thursday, and it is gradually initiating a form of Spiritual Ecumenism. This is being supported by the Pontifical Council for Promoting Christian Unity.
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Collaboration with the Diplomatic Corps- The ACR through its director has been engaged in conversations and meetings with different Embassies to collaborate on issues of common interest.
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Relationships with Academic Institutions in Rome- To give more sustenance to our educational vocation, contacts have been established with the Angelicum University, the Lateran University, the Gregorian University, and other long standing academic centres of learning.
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The Synod of Bishops- 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.
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Pilgrimage on St Paul’s sites led by Revd Scott Brodeur in 2022. 14 – 17 June 2023 Pilgrimage to Saint Paul’s sites. Courses 2023
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Academic Institutions in Rome.
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The Anglican Centre in Rome
DIRECTORS’ AND TRUSTEES’ REPORT
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Lectures on Anglicanism and Inculturation from an Anglican perspective were presented at The Lateran Pontifical University – published in the Academic Journal of the Institution. Visits to Rome and Sabbatical Programmes and courses for Anglican Seminarians, Clergy and Bishops are being organised this year.
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Good collaboration with the Institut Supérieur d’études Oécumeniques of the Catholic Institute in Paris and the Protestant Institute of Paris, France.
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Fruitful collaboration with the Virginia Theological Seminary and spent a week at that institution in November 2022.
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Eucharist Celebrations - Several languages are now used at our Tuesday Eucharists and once a month we have a Prelate from The Roman Catholic Church as our guest Preacher. For the months of December 2022 and January 2023, Cardinals James Harvey and Arthur Roche have been delivered the sermons
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Visits of eminent Personalities from the Anglican Communion (Primates and Bishops of the Communion
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Communication and Technology: Technological equipment has been installed to help enhancing the quality of Facebook streaming of the weekly events and other liturgical events and Celebrations;
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Video on the life of the Centre with events and interviews featuring ion it;
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The Centro News: A quarterly Publication – a new issue will be released by the 15[th] of February;
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The Website-This important communication is being upgraded through the collaboration of the UK and The American Friends Networks;
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Internship at the ACR-two interns supporting the work: one from the Episcopal Church and the other from the Church of Pakistan;
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Joint Programmes with other Church organizations;
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Exhibition on Modern Slavery in collaboration with the Clewer Initiative and Mediterranean Hope June 2022 attracting a great number of people from different walks of life; Conferences and Online Seminars in 2023
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Planning and design for the celebration of the 50[th] anniversary of the John Moorman Library (Conferences, Exhibition, etc) – September – October 2023
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Week of Prayer for Christian Unity- It is now customary to organize a Vigil of Prayer on the 17[th] of January jointly with the Centro Pro Unione and the Methodist Ecumenical Office in Rome. And we coordinate with Churches Together in Rome for the Unity Service on the Sunday of Unity Week of January.
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.
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The Anglican Centre in Rome
DIRECTORS’ AND TRUSTEES’ REPORT
Results for the year
During the year ended 31 December 2022 the net deficits amounted to £50,570. Funds raised during the year to meet operating expenses totalled £280,797.
Fund surplus
The accumulated deficit on unrestricted funds amounts to £67,800 and an equivalent amount has been transferred from Endowment funds.
Reserves
The Centre had an Endowment Fund amounting to £359,921 at the beginning of the year and this has been decreased by the deficit for the year of £67,800, leaving £292,121 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 2022 donations of £123,489 were received in the United Kingdom, £82,424 was received from America, £4,251 in mainland Europe, £10,000 from the Anglican Consultative Council, £22,500 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 in 2021 and £6,315 in 2022 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.
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 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 to fund the operation of the Centre and the deficit it incurred in 2020 and 2022. During the year worldwide equity markets struggled from the previous year and the Centre suffered an unrealised loss of £17,230, compared with the previous year surplus of £19,050, 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 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.
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The Anglican Centre in Rome
DIRECTORS’ AND TRUSTEES’ REPORT
A few projects are still in the pipeline such as “A Vision Explored” which aims at welcoming Anglican seminarians for a week of learning and pilgrimage in Rome. Investigations are continuing into 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 2023-24.
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.
(2) One person nominated by the Archbishop of Canterbury;
(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 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.
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The Anglican Centre in Rome
DIRECTORS’ AND TRUSTEES’ REPORT
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, Canada 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 The Most Revd Dr Anthony Poggo who was appointed 17 November 2022 and Ms. Angel Hon who was appointed in April 2023. Resigning on 17 November 2022 were The Most Revd Dr Josiah Idowu-Fearon, The Most Revd Dr Paul Kwong, and The Rt Revd Catherine Waynick.
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
Dr Christopher Wells Secretary 23 December 2023
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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:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles of the Charities SORP
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make judgements and estimates that are reasonable and prudent;
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state whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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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.
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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 2022, 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:
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examine the accounts under section 145 of the 2011 Act;
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follow the procedures laid down in the general Directions given by the Charity Commission under Section 145(5)(b) of the 2011 Act; and
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to state whether particular matters have come to my attention.
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:
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1 which gives me reasonable cause to believe that in any material respect the requirements:
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(a) to keep accounting records in accordance with Section 386 of the Companies Act 2006; and
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(b) to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities
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have not been met; or
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2 to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
J I Borucki FCA Chartered Accountants and Registered Auditor 42 Radnor Road Harrow HA1 1RZ
23 December 2023
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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 2022
| Note Unrestricted funds Restricted income funds Endowment funds Total 2022 2022 2022 2022 £ £ £ £ INCOME Income from generated funds Voluntary income Donations 270,734 - - 270,734 Grants for bursaries - - - - Activities for generating funds - - - - Investment income 4,996 - - 4,996 Income from Charitable activities Income from seminars 4,890 - - 4,890 Income from bookstall and publications 177 - - 177 Other Income - Furlough grants - - - - TOTAL INCOME 280,797 - - 280,797 EXPENDITURE Cost of generating funds Cost of generating voluntary income 25,761 - - 25,761 Fundraising costs 1,563 - - 1,563 Charitable activities Direct costs of seminars 2,423 - - 2,423 Administrative expenses 299,435 - - 299,435 Governance costs 2,185 - - 2,185 TOTAL EXPENDITURE 331,367 - - 331,367 NET INCOME/(EXPENDITURE) (50,570) - - (50,570) Transfers (from)/to 13 Endowment fund 67,800 - (67,800) - Bursaries fund - - - - Travel funds - - - - NET INCOME/(EXPENDITURE) AFTER TRANSFERS 17,230 - (67,800) (50,570) Other recognised gains /(losses) - Unrealised gain on investment assets (17,230) - - (17,230) NET INCOME/(LOSS) FOR THE YEAR - - (67,800) (67,800) Fund balances brought forward at the beginning of the year - 104,690 359,921 464,611 Fund balances carried forward at the end of the year - 104,690 292,121 396,811 |
Note Unrestricted funds Restricted income funds Endowment funds Total 2022 2022 2022 2022 £ £ £ £ INCOME Income from generated funds Voluntary income Donations 270,734 - - 270,734 Grants for bursaries - - - - Activities for generating funds - - - - Investment income 4,996 - - 4,996 Income from Charitable activities Income from seminars 4,890 - - 4,890 Income from bookstall and publications 177 - - 177 Other Income - Furlough grants - - - - TOTAL INCOME 280,797 - - 280,797 EXPENDITURE Cost of generating funds Cost of generating voluntary income 25,761 - - 25,761 Fundraising costs 1,563 - - 1,563 Charitable activities Direct costs of seminars 2,423 - - 2,423 Administrative expenses 299,435 - - 299,435 Governance costs 2,185 - - 2,185 TOTAL EXPENDITURE 331,367 - - 331,367 NET INCOME/(EXPENDITURE) (50,570) - - (50,570) Transfers (from)/to 13 Endowment fund 67,800 - (67,800) - Bursaries fund - - - - Travel funds - - - - NET INCOME/(EXPENDITURE) AFTER TRANSFERS 17,230 - (67,800) (50,570) Other recognised gains /(losses) - Unrealised gain on investment assets (17,230) - - (17,230) NET INCOME/(LOSS) FOR THE YEAR - - (67,800) (67,800) Fund balances brought forward at the beginning of the year - 104,690 359,921 464,611 Fund balances carried forward at the end of the year - 104,690 292,121 396,811 |
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 |
|---|---|---|
| 280,797 - - 280,797 |
407,438 - - 407,438 |
|
| 25,761 - - 25,761 1,563 - - 1,563 2,423 - - 2,423 299,435 - - 299,435 2,185 - - 2,185 |
27,819 - - 27,819 98 - - 98 - - - - 263,580 - - 263,580 5,058 - - 5,058 |
|
| 331,367 - - 331,367 |
296,555 - - 296,555 |
|
| (50,570) - - (50,570) 67,800 - (67,800) - - - - - - - - - ER |
110,883 - - 110,883 (133,017) - 133,017 - 3,084 (3,084) - - - - - - |
|
| 17,230 - (67,800) (50,570) - (17,230) - - (17,230) |
(19,050) (3,084) 133,017 110,883 19,050 - - 19,050 |
|
| R - - (67,800) (67,800) - 104,690 359,921 464,611 |
- (3,084) 133,017 129,933 - 107,774 226,904 334,678 |
|
| - 104,690 292,121 396,811 |
- 104,690 359,921 464,611 |
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The Anglican Centre in Rome
STATEMENT OF FINANCIAL ACTIVITIES
for the year ended 31 December 2022
| Note Unrestricted funds Restricted income funds Endowmen t funds Total 2022 2022 2022 2022 £ £ £ £ INCOME Income from generated funds Voluntary income Donations 270,734 - - 270,734 Grants for bursaries - - - - Activities for generating funds - - - - Investment income 4,996 - - 4,996 Income from Charitable activities Income from publications 177 - - 177 Other Income - Furlough grants - - - - TOTAL INCOME 275,907 - - 275,907 EXPENDITURE Cost of generating funds Cost of generating voluntary income 25,761 - - 25,761 Fundraising costs 1,563 - - 1,563 Charitable activities Grants for administrativer expenses of subsidiary undertaking in Italy 273,684 - - 273,684 Administrative expenses 22,539 - - 22,539 Governance costs 2,185 - - 2,185 TOTAL EXPENDITURE 325,732 - - 325,732 NET INCOME/(EXPENDITURE) (49,825) - - (49,825) Transfers from 13 Endowment fund 67,800 - (67,800) - Bursaries fund - - - - Travel funds - - - - NET INCOME/(EXPENDITURE) AFTER TRANSFERS 17,975 - (67,800) (49,825) Other recognised gains /(losses) Unrealised gain on investment assets (17,230) - - (17,230) NET INCOME/(LOSS) FOR THE YEA 745 - (67,800) (67,055) Fund balances brought forward at the beginning of the year (5,337) 104,690 359,921 459,274 Fund balances carried forward at the end of the year (4,592) 104,690 292,121 392,219 |
Unrestricted funds Restricted income funds Endowmen t funds Total 2022 2022 2022 2022 £ £ £ £ 270,734 - - 270,734 - - - - - - - - 4,996 - - 4,996 177 - - 177 - - - - - |
Unrestricted funds Restricted income funds Endowmen t funds Total 2021 2021 2021 2021 £ £ £ £ 392,403 - - 392,403 - - - - 248 - - 248 4,783 - - 4,783 1,443 - - 1,443 8,561 - - 8,561 |
|---|---|---|
| 275,907 - - 275,907 |
407,438 - - 407,438 |
|
| 25,761 - - 25,761 1,563 - - 1,563 273,684 - - 273,684 22,539 - - 22,539 2,185 - - 2,185 |
27,819 - - 27,819 98 - - 98 250,000 - - 250,000 17,032 - - 17,032 1,333 - - 1,333 |
|
| 325,732 - - 325,732 |
296,282 - - 296,282 |
|
| (49,825) - - (49,825) 67,800 - (67,800) - - - - - - - - - |
111,156 - - 111,156 (133,017) - 133,017 - 3,084 (3,084) - - - - - - |
|
| 17,975 - (67,800) (49,825) (17,230) - - (17,230) |
(18,777) (3,084) 133,017 111,156 19,050 - - 19,050 |
|
| 273 (3,084) 133,017 130,206 (5,610) 107,774 226,904 329,068 |
||
| (4,592) 104,690 292,121 392,219 |
(5,337) 104,690 359,921 459,274 |
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The Anglican Centre in Rome
| BALANCE SHEETS at 31 December 2022 Note FIXED ASSETS Leasehold improvements and equipm 8 Investments 9 Susidiary 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 2022 2022 £ £ 21,795 9,721 148,621 148,621 - - 170,416 158,342 167 - 48,568 40,086 231,717 231,013 280,452 271,099 54,057 37,222 226,395 233,877 396,811 392,219 292,121 292,121 3,896 3,896 100,794 100,794 - (4,592) 396,811 392,219 |
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 |
For the year ended 31 December 2022 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
+Michael Burrows
Chairman
23 December 2023
13
The Anglican Centre in Rome
STATEMENT OF CASH FLOWS
for the year ended 31 December 2022
| 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 2022 2021 £ £ (23,998) 112,066 4,996 4,783 - - - 4,996 4,783 (19,002) 116,849 250,719 134,232 - (362) 231,717 250,719 |
|---|---|
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 2022 2021 £ £ (67,800) 129,933 7,064 9,089 17,230 (19,050) - 362 (4,996) (4,783) - - 20,110 (8,623) 4,394 5,138 (23,998) 112,066 |
|---|---|
14
The Anglican Centre in Rome
NOTES TO THE ACCOUNTS at 31 December 2022
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 2022
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
| This is stated after charging: Independent Examiners’ remuneration Directors’ remuneration Operating lease rentals-land and buildings Depreciation of leasehold improvements Depreciation of equipment STAFF COSTS Salaries and wages Charitable activities Cost of generating funds Social security costs Charitable activities Cost of generating funds Other payroll costs Charitable activities Cost of generating funds |
2022 £ 1,460 - 32,476 4,071 2,993 ––––––––––– 2022 £ 89,853 25,761 29,246 - 6,420 - ———— 151,280 ———— |
2021 £ 1,460 - 32,163 5,417 3,672 ––––––––––– |
|---|---|---|
| 2021 £ 109,670 27,818 28,180 - 6,420 600 ———— 172,688 ———— |
4. STAFF COSTS
The average number of employees during the year was as follows: Charitable activities 3 Generating funds 1 No employee earned more than £60,000 per annum (2021 - nil)
16
The Anglican Centre in Rome
NOTES TO THE ACCOUNTS
at 31 December 2022
5. GOVERNANCE COSTS
| Independent Examiners fees Other professional fees Governors’ expenses 6. TRUSTEES EXPENSES Travel and accommodation -1 trustee (2021 – nil) Entertaining & subsistence |
2022 £ 1,460 150 655 ———— 3,576 ———— 2022 £ 655 - ———— 655 ———— |
2021 £ 1,460 3,598 - ———— 5,058 ———— 2021 £ - - ———— - ———— |
|---|---|---|
As a result of the restrictions for travelling during the pandemic, some of the trustees meetings were held remotely. No remuneration was paid to the trustees during the year. (2021 – 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 2022 Additions for the period Movement on exchange Balance at 31 December 2022 Depreciation Balance at 1 January 2022 Charge for the period Movement on exchange Balance at 31 December 2022 Net book value At 31 December 2022 At 1 January 2022 |
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 |
|
| 232,070 215,173 34,096 534 266,166 215,707 4,071 2,810 2,993 - 7,065 2,810 - - - - - - |
|
| 236,141 217,983 37,089 534 273,231 218,517 |
|
| 16,028 9,721 5,768 - 21,795 9,721 |
|
| 20,099 12,531 8,761 - 28,860 12,531 |
17
The Anglican Centre in Rome
NOTES TO THE ACCOUNTS at 31 December 2022
9. FIXED ASSETS - INVESTMENTS
| Market value-1 January Additions/(disposals) Unrealised investment (loss)/gain Market value-31 December Analysis of investments at 31 December 2022 CBF Church of England Investment Fund Income Shares Charity Property Fund Market value-31 December 2022 Historical cost-31 December 2022 |
Company and Group 2022 2021 £ £ 165,851 146,801 - - (17,230) 19,050 —————— —————— 148,621 165,851 —————— —————— 109,879 124,373 38,742 41,478 —————— —————— 148,621 165,851 ——— ———— 91,733 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 2022 2022 £ £ 35,502 35,502 - - 11,830 4,584 1,236 - —————— —————— 48,568 40,086 —————— —————— Group Company 2022 2022 £ £ 4,675 4,675 49,382 5,205 - 27,342 —————— —————— 54,057 37,222 —————— —————— |
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 —————— —————— |
|---|---|---|
12. CREDITORS: amounts falling due within one year
18
The Anglican Centre in Rome
NOTES TO THE ACCOUNTS at 31 December 2022
13. RECONCILIATION OF FUNDS AND MOVEMENTS ON RESERVES
| Group At 1 January 2021 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 Net outgoing resources before transfers Transfer from Endowment Fund Transfer from Bursaries Fund Unrealised gains/(losses) on investments Net surplus/(deficit) for the year At 31 December 2022 Company At 1 January 2021 Net incoming resources before transfers Transfer from Endowment Fund Transfer from Bursaries Fund Unrealised gains/(losses) on investments Net surplus/(deficit) for the year At 31 December 2021 Net outgoing resources before transfers Transfer from Endowment Fund Transfer from Bursaries Fund Unrealised gains/(losses) on investments Net surplus/(deficit) for the year At 31 December 2022 |
Income and Expenditure account Endowment Fund Bursaries Fund Travel Fund Total £ £ £ £ £ - 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 |
|
| (50,570) - - - (50,070) 67,800) (67,800) - - - - - - - - (17,230) - - - (17,230) |
|
| - (67,800) - - (67,800) |
|
| - 292,121 100,794 3,896 396,811 |
|
| (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 |
|
| (49,825) - - - (49,825) 67,800) (67,800) - - - - - - - - (17,230) - - - (17,230) |
|
| 745 (67,800) - - (67,055) |
|
| (4,592) 292,1211 100,794 3,896 392,219 |
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 £67,800 has been transferred from the Endowment fund to the Unrestricted Income fund.
19
The Anglican Centre in Rome
NOTES TO THE ACCOUNTS
at 31 December 2022
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
| Unrestricted | Restricted |
||||
|---|---|---|---|---|---|
| Income | Income |
Endowment | 2022 |
2021 |
|
| Funds | Funds |
Fund |
Total |
Total |
|
| Fund balances at 31 December 2022 | |||||
| are represented by: | |||||
| £ | £ |
£ |
£ |
£ |
|
| Tangible fixed assets | 21,795 | - |
- | 21,795 | 28,860 |
| Fixed asset investments | - | - | 148,621 | 148,621 |
165,851 |
| Current assets | 32,262 | 104,690 |
143,500 |
280,452 |
319,564 |
| Current Liabilities | (54,057) | - |
- | (54,057) | (49,664) |
| ————— | —————————— | ————— | ————— | ||
| Total net assets | - | 104,690 | 292,121 |
396,811 |
464,611 |
| ————— | —————————— | ————— | ————— | ||
| 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 |
————— —————————— ————— —————
15. FINANCIAL COMMITMENTS
At 31 December 2022 the company had annual commitments totalling £31,050 under non-cancellable operating leases for land and buildings expiring within more than five - years (2021 £31,050)
- At 31 December 2022 the company had capital commitments totalling £nil (2021 £nil).
20