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2024-12-31-accounts

The Oxford Oratory of St Philip Neri Charity number: 1018455

Financial Statements for the year ended 31st December 2024

Wenn Townsend Chartered Accountants Oxford

The Oxford Oratory of St Philip Neri

Report of the Trustees

for the year ended 31st December 2024

The Trustees present their report and the audited financial statements of the Charity for the year ended 31st December 2024. The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (FRS 102) in preparing the annual report and financial statements of the Charity.

Reference and administrative information

Principal address

The Charity’s principal address is 25 Woodstock Road, Oxford, OX2 6HA.

Trustees

The Trustees at the date of this report were:

Father N Edmonds-Smith (Chairman) Father O Craddock (Secretary & Treasurer) Father N D Jacob Father B Manning Fra J W M Chadwick Mr J C McIntosh

Except as otherwise noted, all Trustees served throughout the year and to the date of this report.

New Trustees can only be appointed by the existing Trustees.

Bankers Santander UK plc Santander House, Carfax, Oxford, OX1 1HB Royal Bank of Scotland plc 36 St Andrew Square, Edinburgh, EH2 2YB National Westminster Bank plc 249 Banbury Road, Oxford, OX2 3JY Solicitors Knights Midland House, West Way, Botley, Oxford, OX2 3JY Auditors Wenn Townsend 30 St Giles, Oxford, OX1 3LE

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The Oxford Oratory of St Philip Neri

Report of the Trustees (continued)

for the year ended 31st December 2024

Structure, governance and management

Legal status

The Charity was established under a Trust Deed dated 6th February 1993. It was registered as a charity with the Charity Commission on 9th March 1993 – charity number 1018455.

Governance

New Trustees are appointed only by the existing Trustees.

All major decisions are taken by the Trustees but the responsibility for the day to day running of the Charity has been delegated to the members of the religious community under the leadership of the Provost, Father N Edmonds-Smith.

Clergy stipends are set according to the provisions laid out in the Particular Statues of the Congregation of the Oratory of St Philip Neri in Oxford. Clergy without their own source of income receive a stipend from the trust according to their financial need not exceeding £1,250 per quarter.

Risk management

The Trustees have a risk management strategy which comprises an annual review of the risks the Charity may face, the establishment of systems and procedures to mitigate those risks, the implementation of procedures to minimise any potential impact on the Charity should those risks materialise.

The Trustees consider that the Charity’s main risks are those associated with financial sustainability, safeguarding, legislative compliance and buildings.

Objectives and activities

The objectives of the Charity are the advancement and maintenance of the Roman Catholic religion in England and, particularly, in the vicinity of the city of Oxford and county of Oxfordshire.

The Charity is a religious community of Catholic priests living together in the spirit of St Philip Neri and St John Henry Newman. They serve God through the cultivation of beauty in the liturgy, nurturing the lay faithful by preaching, teaching, administering the sacraments, and through popular devotions and the famous Oratorian musical tradition.

St Aloysius’ Church in Oxford is open every day and at least three services are held each day. The average attendance at the church on a Sunday is approximately 950.

The church building was erected in 1875 and is a Grade 2 listed building. The Trustees are responsible for maintaining the building in a good state of repair.

The Trustees are aware of the need to consider public benefit in all decision making and confirm that they have complied with the duty in section 17(5) of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission. The following are the ways in which the public benefits from the parish’s activities:

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The Oxford Oratory of St Philip Neri

Report of the Trustees (continued) for the year ended 31st December 2024

Objectives and activities (continued)

Achievements and performance

There was much to be grateful for during 2024 in the life of our parish and Oratory family, with so many signs of God’s work in his Church.

In February, our work with adults entering the Church caught the attention of the press at home and internationally. Having previously instructed all converts on a one-to-one basis, at the end of 2023 we found that we had to launch a series of catechism classes for adults. The first of these finished in February, and was a joyful celebration not just for the eight new Catholics, but also for all their new friends in the parish who came to welcome and support them. A second class began as the first finished, and we welcomed seven more new Catholics into the Church in June. Not everyone’s journey of faith quite runs to the schedule of the classes, of course, and there have been many more baptisms and receptions throughout the year, as well as welcoming home a number of baptised Catholics who had not been brought up in the faith. A third class began in October.

Last year we baptised 41 new Christians and 13 baptised Christians were received into full communion. 22 couples began their married lives together at the Oratory this past year, tied with 2023 for the most weddings in our church in a year.

Our average Mass attendance — worked out by counting everyone at Mass on four weekends in September/October — was 950, and there were many weekends when our attendance exceeded 1000. This growing figure is one of the highest in the Archdiocese, and is the product of the love and faith of our parishioners. It is also testimony to the hard work of many: the Fathers and Brothers, our choirs and music director, our sacristan, altar-servers, flower arrangers, church cleaners, greeters, Cafe Neri volunteers, Oratory Outreach and Porters. These are all such important ministries, and we are immensely grateful to all who have given up their time in service of our community.

Our church continues to attract an ever increasing number of young people. A significant proportion of those attending Mass daily in our church are under 30, with many (but certainly not all) being students at the University of Oxford. We welcome back a large number who have fallen away from the faith they were baptised into as a child, sometimes preparing them for the sacraments they have not yet received, but often simply by being on hand to receive them in the confessional. This is not something exclusive to the young, of course, and we regularly hear the confessions of those returning to the Church after many decades away. Over 850 confessions on average are heard in our church each month across the year.

Our work outside the church building continues too, with different groups and activities taking place to cater for all ages and interests. It is not only Oxford residents that we reach. Our social media accounts now regularly reach 10,000 people across the world, who are able to join our live-streamed Masses and weekly reflections, as well as staying up to date with all of our latest news and photographs.

On the music front, we began the year with a concert by the Schola Cantorum of the London Oratory School, launching their CD Sacred Treasures of Venice . In February there was a performance of John Stainer’s The Crucifixion by our own Oratory Choir under the direction of Rory Moules, our Director of Music. We are blessed to have outstanding singers and musicians, who have continued to build on our reputation for fine liturgical music — something often commented on by those who attend Mass here or follow us on the livestream. Investing in the future, we have also recruited an organ scholar this year, the position generously funded by the Gamlen Charitable Trust.

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The Oxford Oratory of St Philip Neri

Report of the Trustees (continued) for the year ended 31st December 2024

Achievements and performance (continued)

Our bookshop remains an important tool in our work of evangelisation and catechesis, as well as providing an income to support the work of the parish. Building on this success, we started an online shop to further diversify our income and provide an opportunity for people world-wide to purchase our own publications, cufflinks, lapel badges and tote bags, and a selection of other books and devotional items chosen by the Fathers. The Oratory Prayerbook remains a best seller, joined this year by a matching edition of the maxims of St Philip arranged for each day of the year.

Cafe Neri has also served more customers than ever before. It continues to be an important part of our ministry on Sundays, providing not only refreshments after Mass, but also an opportunity to meet each other and make new parishioners and visitors feel especially welcome.

As part of the renovation and restoration of the Oratory church we employed Cliveden Conservation to uncover the murals of the life of St Aloysius in the sanctuary, painted by Gabriel Pippet when the church was first built, and covered over in the 1940s. The murals turned out to be in much better condition than originally feared, and look as good as new. This work was made possible by the generosity of parishioners and friends, and we quickly raised the £20,000 needed. The information gathered from the process of uncovering will inform the future phases of the restoration of the once-colourful interior decoration of our church. Cliveden Conservation also made some repairs and restoration to the Relic Chapel, which suffered damage during the very wet weather, and gave it a much-needed clean. We hope to start more extensive renovations in 2025, as the plans are in their final stages and the fundraising campaign is almost ready to be launched.

The most obvious improvement made to our church this year has been a new microphone system, with vastly better sound quality both in church and on the livestream. We were able to purchase and install this system through the very generous donation of American friends, who came in November to see the results for themselves.

2024 was something of a bumper year for American visitors to the Oxford Oratory, as we welcomed 7 different pilgrim groups from the USA, including a group from Arlington, Virginia, with their Bishop Michael Burbidge, who were celebrating the 50th anniversary of the founding of their diocese. We had pilgrims from Italy, Spain, and Germany, and visitors from the Oratories of New York, Nancy, and the Bournemouth Oratory-in-Formation. Over 750 people visited the Oratory during the Oxford Open Doors Weekend, many of whom had never been inside our church before. We welcomed the new Apostolic Nuncio to Great Britain, Archbishop Miguel Maury Buendía, to celebrate Mass and preach on St Philip’s Day. A particular highlight of the year was the visit of The Archbishop of Toledo, Spain, and thirty of his priests, who celebrated Mass in our church on Easter Thursday. The priests were all under ten years ordained and all from the same diocese, so it seems that the so-called vocations crisis is certainly not a universal phenomenon, even in Europe.

There is certainly no vocations crisis in the Oratory, as with the clothing of Br Thomas Nimmo in the habit in September we now have five men in the noviciate. Three of our brothers continue their priestly studies with the Dominicans at Blackfriars, and we are grateful to the Jesuit Fathers for a grant that covers their tuition. St Philip had close friendships with the Dominicans and Jesuits in Rome, so it is wonderful that we are able to maintain those friendships here in Oxford. An important event in the Oratorian Confederation took place in October, when Fathers from all the Oratories in the world convened in Rome for our six-yearly General Congress. This was an important opportunity to renew old friendships and make new ones, and the hard work of revising the General Statutes that govern our Institute was accomplished with much Philippine good humour.

Our parishioners and visitors have always been eager to help needy causes and charities, and past year we gave charitable donations from the Poor Box to OxPAT, the Santa Maria Education Fund, the Oxford Companions of the Order of Malta, the Order of Malta Volunteers and Life. Our crib collection raised £1,044 for Aid to the Church in Need; the Mission Appeal for the Kiltegan Fathers collected £1,479; and we were able to send 232 gift parcels to the Operation Christmas Child Christmas shoebox appeal. Our Lent Project for 2024 was for Let the Children Live!, a Catholic charity in Colombia. The founder, Fr Peter Walters preached an inspiring appeal, and the total raised was another recordbreaking £4,764. Closer to home, we launched our own charitable team Oratory Outreach, which has run successful

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The Oxford Oratory of St Philip Neri

Report of the Trustees (continued) for the year ended 31st December 2024

Achievements and performance (continued)

collections for the Oxford Food Bank each month. Oratory Outreach also helped to host the Companions of the Order of Malta Easter and Christmas lunches here at the Oratory for the homeless and less fortunate, and we continued to serve as the Companions’ base of operations for the twice weekly evening soup and sandwich runs.

Occasional grants cover certain specific expenses, but for most of the day to day costs of keeping our church open, we rely on the regular giving of those who worship here. The average Sunday collection has improved on the past few years, but still lags behind what a large and busy parish like ours needs to run effectively and grow. The average weekly donation from the collection last year worked out at just £2.58 per head.

The members of our congregation are often resident in Oxford only for a few years, especially those brought here by the University. In 2020, we launched the Friends of the Oratory as a way to stay in contact with our supporters across the country and around the world. Membership of the Friends has continued to grow. As well as enjoying a number of special events through the year, membership subscriptions from the Friends have brought in over £9,000.

Sadly 2024 also broke the record for the number of funerals, although the demography of central Oxford is such that we still have far fewer than other similar parishes. We said goodbye to a number of familiar faces and members of our parish for many years, commending to God’s mercy. We also celebrated the Requiem Mass of Fr John Hunwicke, a retired Ordinariate priest and well-known blogger. Fr Hunwicke was ordained priest in our church in 2012, after decades of ministry in the Church of England, and latterly courageously taught Latin to some of the Fathers. May the souls of all the faithful departed, through the mercy of God, rest in peace.

2025 is a Holy Year of Jubilee, when the whole Church once again experiences the mercy and forgiveness of God in a special way through events in Rome and in dioceses throughout the world. A Jubilee Year is an opportunity to forgive debts and start afresh, and to recognise what needs to change in our own lives and in the world to bring about the reign of Christ. But every new year gives such an opportunity, as every year is a year of grace, of joys, sorrows and celebrations. 2025 is also the 150th anniversary of the opening of our church, which we mark later in the year. And so the life of the Church goes on, and we continue to dedicate ourselves, our Oratory and our parish to the Lord and his blessed Mother, trusting always in the prayers of our Holy Father St Philip and of St Aloysius our Patron.

Plans for the future

We hope that our growth will continue in all areas, but we are particularly looking forward to welcoming even more new members of the Church in 2025. The day to day work of the Charity will continue as usual. We expect a steady stream of visitors to our church throughout the year, and hope that new people will continue to be attracted to our church through our work.

The Charity will continue to raise funding to support the Oratory’s development and conservation objectives. In 2025, we will continue to work on our fundraising strategy for the conservation of the external fabric of the church, the restoration of the sanctuary, rebuilding of the sacristy and the the redecoration and renewal of utilities in the church.

The trustees hope to begin a major restoration of the church in 2025 to mark the 150th anniversary of the building. This will also involve completing the major structural repairs needed to the church walls and roofs. Funds permitting, a new baptistery and Newman chapel will be added to the church as part of the same project.

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The Oxford Oratory of St Philip Neri

Report of the Trustees (continued) for the year ended 31st December 2024

Reserves policy

The Trustees have established the level of unrestricted reserves that the Charity needs to maintain to cover possible emergency repairs to the fabric of the church and to bridge any gap between future income and expenditure. The Trustees consider that the Charity’s reserves are adequate for the foreseeable future. At 31 December 2024 the total amount of unrestricted funds were £298,964 (2023: £263,583). The charity’s general or ‘free’ reserves were £298,864 (2023: £263,583); however, the trustees are conscious of the significant capital works required in the future, as described above, and cost of living pressures in the wider economy.

Investment policy

The unrestricted investments are held as long-term assets with the intention of generating income and capital growth in the CCLA’s Catholic Investment Fund. The CCLA’s Catholic Investment Fund guarantees an investment policy consistent with the Catholic faith, set by CCLA and advised by members of the Catholic Bishops’ Conference of England and Wales, as well as promoting the application of Catholic social teaching in companies it supports. The fund’s objective is capital growth and growth in income, with the aim that a gross total return of 5% per annum net of inflation as measured by the increase in the Consumer Price Index is achieved over the long term (defined as five years). The fund is actively managed and invests in a broad range of assets, but with an emphasis on equities (between 50% and 85%). The fund can also invest in fixed-interest securities, money-market instruments, cash and near-cash, infrastructure related investments, deposits, gold and property, which may be either liquid or illiquid in nature.

Financial review

The main source of funding for the Charity continues to be donations. The charity received a larger total income from donations in 2024 of £522,270 (2023: £398,769). Newer donation methods such as contactless and online giving have helped to bring in donations from a wider audience, including many casual visitors to the church building. Donations have been boosted further by a growing number of Friends of the Oratory.

The trustees have also worked hard to diversify income streams. Income from the cafe and bookshop in 2024 was £86,650 (2023: £69,338). Income from spare bedrooms made available to Catholic students of the University brought in an income of £9,120 (2023: £11,165).

Most expenses were in line with previous years. The training of student brothers for the priesthood has brought a new significant cost, although this has been covered by generous grants from the Society of Jesus. However, despite the growing size of the community, the expenses associated with the community have not increased significantly. There have been some slight increases with the costs associated with conducting our pastoral work.

Overall, the surplus for the year was £94,864 (2023: £9,163). Much of this surplus is the result of the initial stages of fundraising for future building work. Of the overall surplus, £59,483 is within restricted funds.

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The Oxford Oratory of St Philip Neri

Report of the Trustees (continued) for the year ended 31st December 2024

Statement of trustees responsibilities

The Trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales 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 charity and of the income and expenditure of the charity for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by the Trustees on 20 September 2025 and signed on their behalf by:

Father N Edmonds-Smith Chairman and Provost

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The Oxford Oratory of St Philip Neri

Independent Auditor’s Report to the Trustees of The Oxford Oratory of St Philip Neri

Opinion

We have audited the financial statements of The Oxford Oratory of St Philip Neri (the ‘charity’) for the year ended 31st December 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the trustees’ annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

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The Oxford Oratory of St Philip Neri

Independent Auditor’s Report to the Trustees of The Oxford Oratory of St Philip Neri (continued)

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement set out on page 7, the trustees are responsible for the preparation of financial statements which give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with regulations made under section 154 of that Act.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud is detailed below:

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

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The Oxford Oratory of St Philip Neri

Independent Auditor’s Report to the Trustees of The Oxford Oratory of St Philip Neri (continued)

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity’s trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Wenn Townsend Chartered Accountants, Statutory Auditor

30 St Giles Oxford

3rd October 2025

Wenn Townsend is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006.

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The Oxford Oratory of St Philip Neri

Statement of Financial Activities (including income and expenditure account) for the year ended 31st December 2024

Unrestricted Restricted Total Total
Note Funds Funds 2024 2023
£ £ £ £
Income and endowments from:
Donations and legacies 2 347,351 174,919 522,270 398,769
Charitable activities 3 9,120 39,461 48,581 44,937
Other trading activities 4 86,650 - 86,650 69,338
Investment income 5 6,575 4 6,579 4,594
Other income 6 890 31,600 32,490 7,457
───── ───── ───── ─────
Total income 450,586 245,984 696,570 525,095
───── ───── ───── ─────
Expenditure on:
Raising funds 7 41,656 - 41,656 36,382
Charitable activities 8 344,230 221,583 565,813 492,226
───── ───── ───── ─────
Total 385,886 221,583 607,469 528,608
───── ───── ───── ─────
Net income/(expenditure) before
gains on investments 64,700 24,401 89,101 (3,513)
Net gains/(losses) on investments 17 5,764 - 5,764 12,676
───── ───── ───── ─────
Net income/(expenditure) before transfers 70,464 24,401 94,865 9,163
Transfers between funds 17 (51,509) 51,509 - -
───── ───── ───── ─────
Net income/(expenditure) for the period 18,955 75,910 94,865 9,163
Reconciliation of funds
Funds brought forward at 31st December 2023 263,583 2,897,444 3,161,027 3,151,864
───── ───── ───── ─────
Funds carried forward at 31st December 2024 282,538 2,973,354 3,255,892 3,161,027
═════ ═════ ═════ ═════

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derives from continuing activities.

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The Oxford Oratory of St Philip Neri

Balance Sheet as at 31st December 2024

Notes 2024 2023
£ £ £ £
Fixed assets
Tangible assets 12 2,880,787 2,899,497
Investments 13 125,103 119,339
Current assets
Stock 14 17,634 11,668
Debtors 15 41,792 24,276
Cash at bank and in hand 234,583 157,328
───── ─────
294,009 193,272
Liabilities
Creditors: amounts falling due within
one year 16 (44,007) (51,081)
───── ─────
Net current assets 250,002 142,191
───── ─────
Total net assets 3,255,892 3,161,027
═════ ═════
Funds: 17
Restricted funds 2,973,354 2,897,444
Unrestricted funds 282,538 263,583
───── ─────
Total funds 3,255,892 3,161,027
═════ ═════

The financial statements were approved by the Trustees and authorised for issue on 20 September 2025 and are signed on their behalf by:

Father N Edmonds-Smith Chairman and Provost

The notes on pages 11 to 22 form part of these financial statements

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The Oxford Oratory of St Philip Neri

Notes to the Financial Statements for the year ended 31st December 2024

1. Statement of accounting policies

A summary of the principal accounting policies adopted (which have been applied consistently, except where noted), judgements and key sources of estimation uncertainty, is set out below.

General information and basis of preparation

The Oxford Oratory of St Philip Neri is a charity in the United Kingdom. The address of the registered office is given in the Charity information on page 1 of these financial statements. The nature of the Charity’s operations and principal activities are as set out in the Report of the Trustees.

The charity constitutes a public benefit entity as defined by FRS 102 section 1A. The financial statements have been prepared in accordance with 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 United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011 and UK Generally Accepted Practice.

The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are prepared in sterling which is the functional currency of the Charity.

Going concern

The financial statements have been prepared on a going concern basis as the Trustees believe that no material uncertainties exist. The Trustees have considered the level of funds held and the expected level and expenditure for 12 months from authorising these financial statements.

Income

All incoming resources are included in the Statement of Financial Activities (SoFA) when the Charity is legally entitled to the income, the amount can be measured reliably and it is probable that the income will be received.

Collections in church are recognised when received by the Charity. Planned giving is recognised only when donations are received. For legacies, entitlement is the earlier of the Charity being notified of an impending distribution or the legacy being received.

Income tax recoverable on gift aided donations is accounted for when the gift is received, not when the tax refund is received.

Dividends and interest are accounted for when receivable and include any recoverable tax.

Income from trading activities includes income earned from fundraising events and trading activities to raise funds for the Charity. Income is received in exchange for supplying goods and services in order to raise funds and is recognised when entitlement has occurred.

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. It is categorised under the following headings:

Cost of raising funds

This includes all expenditure incurred by the Charity to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.

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The Oxford Oratory of St Philip Neri

Notes to the Financial Statements (continued) for the year ended 31st December 2024

1. Statement of accounting policies (continued)

Expenditure on charitable activities

These are costs incurred on the charitable activities, including support costs and costs relating to the governance of the Charity apportioned to charitable activities.

Irrecoverable VAT is charged as an expense against the activity for which expenditure arose.

Grants payable to third parties are within the charitable objectives. Where unconditional grants are offered, this is accrued as soon as the recipient is notified of the grant, as this gives rise to a reasonable expectation that the recipient will receive the grants. Where grants are conditional relating to performance then the grant is only accrued when any unfulfilled conditions are outside of the control of the charity.

Support costs allocation

Support costs are those that assist the work of the Charity but do not directly represent charitable activities and include office costs, governance costs, and administrative payroll costs. They are incurred directly in support of expenditure on the objects of the Charity.

Fundraising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities.

The analysis of these costs is included in note 8.

Tangible fixed assets

Assets costing £100 or more are capitalised as tangible fixed assets and are carried at cost, net of depreciation and any provision for impairment. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets other than freehold land, at rates calculated to write-off the cost of each asset on a straight line basis over its expected useful life, as follows:

Freehold buildings 2% straight line Fixtures, fittings and equipment 20% reducing balance ICT equipment 33% reducing balance Motor vehicles 50% reducing balance

Financial instruments

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.

Investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value with changes recognised in ‘net gains/(losses) on investments’ in the SoFA if the shares are publicly traded or their fair value can otherwise be measured reliably.

Stock

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

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The Oxford Oratory of St Philip Neri

Notes to the Financial Statements (continued) for the year ended 31st December 2024

1. Statement of accounting policies (continued)

Taxation

The Charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes.

Fund Accounting

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

2. Income from donations and legacies

Income from donations and legacies
2024 2023
£ £
Donations 482,178 335,402
Legacies (7,278) 22,113
Tax recoverable 47,370 41,254
──── ────
522,270 398,769
════ ════

The income from donations and capital gains was £522,270 (2023: £398,769) of which £347,351 was unrestricted (2023: £350,077) and £174,919 restricted (2023: £48,692).

3. Charitable activities

Charitable activities
2024 2023
£ £
Parish trips 1,440 2,018
Student accommodation 9,120 11,165
Music 13,989 15,894
Clergy training grant 24,032 15,860
──── ────
48,581 44,937
════ ════

Income from charitable activities was £48,581 (2023: £44,937) of which £9,120 was unrestricted (2023: £11,165) and £39,461 restricted (2023: £33,772).

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The Oxford Oratory of St Philip Neri

Notes to the Financial Statements (continued) for the year ended 31st December 2024

4. Income from other trading activities

Income from other trading activities
2024 2023
£ £
Sale of books and artefacts 74,891 59,085
Sales from Cafe Neri 11,758 10,253
──── ────
86,650 69,338
════ ════

The other trading activities income was £86,650 (2023: £69,338) of which £86,650 was unrestricted (2023: £69,338) and £nil restricted (2023: £nil).

5. Income from investments

Income from investments
2024 2023
£ £
Dividends - -
Interest 6,579 4,594
──── ────
6,579 4,594
════ ════

The investment income was £6,579 (2023: £4,594) of which £6,575 was unrestricted (2023: £4,557) and £4 restricted (2023: £37).

6. Other income

Other income
2024 2023
£ £
Other 32,490 7,457
──── ────
32,490 7,457
════ ════

Other income was £32,490 (2023: £7,457) of which £890 was unrestricted (2023: £7,457) and £31,600 restricted (2023: £nil).

7. Raising funds

Raising funds
2024 2023
£ £
Investment management fees - -
Books, cards, artefacts and newspapers 31,421 27,711
Café food and supply costs 6,527 7,653
Bookshop supplies 3,708 1,018
Other fundraising costs - -
──── ────
41,656 36,382
════ ════

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The Oxford Oratory of St Philip Neri

Notes to the Financial Statements (continued) for the year ended 31st December 2024

7. Raising funds (continued)

Expenditure on raising funds was £41,656 (2023: £36,382) of which £41,656 was unrestricted (2023: £36,382) and £nil restricted (2023: £nil).

8. Analysis of expenditure on charitable activities

Direct Support Total Total
costs costs 2024 2023
£ £ £ £
Religious activities 540,595 25,218 565,813 492,226
──── ──── ──── ────
540,595 25,218 565,813 492,226
════ ════ ════ ════
Religious Total Total
Activities 2024 2023
Direct costs
Sacristy 22,790 22,790 22,975
Church music 64,180 64,180 66,492
Repairs and maintenance 44,413 44,413 22,153
Outward giving 16,941 16,941 16,665
Utilities 67,469 67,469 50,311
Trips 1,440 1,440 2,118
Depreciation 92,257 92,257 93,111
Staff salaries 51,132 51,132 36,968
Pastoral 33,161 33,161 26,327
Community 106,738 106,738 99,964
Council tax 576 576 4,637
Clergy training 19,455 19,455 5,929
Cars and travel 17,252 17,252 18,430
Other costs 2,791 2,791 3,193
──── ──── ────
540,595 540,595 469,273
Support costs
Photocopiers & printers 2,564 2,564 2,567
Insurance 11,305 11,305 9,998
Bank charges and interest 3,993 3,993 3,349
Governance 7,355 7,355 7,039
──── ──── ────
25,218 25,218 22,953
──── ──── ────
Total 565,813 565,813 492,226
════ ════ ════

All support costs relate to charitable activities.

Expenditure on charitable activities was 565,813 (2023: £492,226) of which £344,230 was unrestricted (2023: £394,551) and £221,583 restricted (2023: £97,675).

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The Oxford Oratory of St Philip Neri

Notes to the Financial Statements (continued) for the year ended 31st December 2024

8. Analysis of expenditure on charitable activities (continued)

8. Analysis of expenditure on charitable activities (continued)
2024 2023
£ £
Net income/(expenditure) for the year includes:
Operating lease rentals 9,786 9,456
Depreciation 92,257 93,111
Fees payable to auditor for 5,550 5,500
════ ════
9. Governance costs
2024 2023
£ £
Auditor’s remuneration - audit 5,550 5,500
──── ────
5,550 5,500
════ ════
10. Staff costs
2024 2023
£ £
Staff costs during the year were:
Wages and salaries 50,509 36,481
Social security costs - -
Defined contribution pension costs 615 487
──── ────
51,124 36,968
════ ════

There were five employees during the period (2023: three).

No employees received total employee benefits (excluding employer pension costs) of more than £60,000.

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The Oxford Oratory of St Philip Neri

Notes to the Financial Statements (continued) for the year ended 31st December 2024

11. Trustees’ and key management personnel remuneration and expenses

The following Trustees received stipends for religious duties performed during the year:

2024 2023
£ £
Father N Edmonds-Smith 5,000 5,000
Father O Craddock 5,000 5,000
Father N D Jacob 5,000 5,000
Father B Manning 5,000 5,000
──── ────
20,000 20,000
════ ════

The clergy members listed above are considered to be the charity’s key management personnel.

No expenses were reimbursed during 2024 (2023: £Nil).

12. Tangible fixed assets

Cost
As at 1st January 2024
Additions
As at 31st December 2024
Depreciation
As at 1st January 2024
Charges in year
As at 31st December 2024
Net book values
At 31st December 2024
At 1st January 2024		 Land and
Computer
Fixtures and
Motor
buildings
equipment
fittings
vehicles
Total
£
£
£
£
£
4,274,953
-
395,592
- 4,670,545
51,509
-
22,038
-
73,547
4,326,463
-
417,630
- 4,744,093
1,460,609
-
310,439
- 1,771,048
79,676
-
12,581
-
92,257
1,540,286
-
323,030
- 1,863,306
2,786,177
-
94,609
- 2,880,787
2,814,344
-
85,153
- 2,899,497

-17-

The Oxford Oratory of St Philip Neri

Notes to the Financial Statements (continued)

for the year ended 31st December 2024

13. Listed fixed asset investments

13. Listed fixed asset investments
2024 2023
£ £
Cost or valuation
As at 1st January 2024 119,339 106,663
Additions - -
Disposals - -
Revaluation 5,764 12,676
──── ────
As at 31st December 2024 125,103 119,339
──── ────
Carrying amount
As at 31st December 2024 125,103 119,339
════ ════
As at 1st January 2024 119,339 106,663
════ ════
Investments at fair value comprise:
2024 2023
£ £
Equities 125,103 119,339
Securities - -
Cash within investment portfolio - -
──── ────
125,103 119,339
════ ════
14. Stock
2024 2023
£ £
Stock of books, cards and artefacts 17,634 11,668
──── ────
17,634 11,668
════ ════
15. Debtors
2024 2023
£ £
Trade debtors 17,382 1,645
Prepayments and accrued income 24,410 17,906
Tax debtor - 4,725
──── ────
41,792 24,276
════ ════

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The Oxford Oratory of St Philip Neri

Notes to the Financial Statements (continued) for the year ended 31st December 2024

16. Creditors: amounts falling due within one year

Creditors: amounts falling due within one year
2024 2023
£ £
Trade creditors 20,835 29,464
Accruals and deferred income 15,894 14,339
Other Creditors 7,278 7,278
──── ────
44,007 51,081
════ ════

17. Funds

2024 Balance at Gains and Balance at
1 Jan 24 Income Expenditure Transfers losses 31 Dec 24
£ £ £ £ £ £
Restricted
General Funds
Building fund 2,814,344 - (79,676) 51,509 - 2,786,177
Special appeal 66,386 168,782 63,915 - - 171,253
Mass oferings 3,912 9,682 (10,744) - - 2,850
Priest training 10,617 24,032 (25,380) - - 9,269
Music - 13,989 (13,989) - - -
Trip fund - 1,440 (1,440) - - -
Poor box/other outward
giving 2,185 3,902 (3,437) - - 2,650
Other - 14,568 (13,413) - - 1,155
Special collections for
3rd party charities - 9,589 (9,589) - - -
_______________
2,897,444 245,984 (221,583) 51,509 - 2,973,354
_______________
Unrestricted funds
General fund 263,593 450,586 (385,886) (51,509) 5,764 282,538
_______________
263,593 450,586 (385,886) (51,509) 5,764 282,538
_______________
Total funds 3,161,027 696,570 (607,469) - 5,764 3,255,892

-19-

The Oxford Oratory of St Philip Neri

Notes to the Financial Statements (continued) for the year ended 31st December 2024

17. Funds (continued)

2023 Balance at Gains and Balance at
1 Jan 2023 Income Expenditure Transfers losses 31 Dec 23
£ £ £ £ £ £
Restricted
General Funds
Building fund 2,861,881 - (79,676) 32,139 - 2,814,344
Special appeal 94,379 22,277 (50,270) - - 66,386
Mass oferings 2,716 10,411 (9,215) - - 3,912
Priest training - 15,860 (5,243) - - 10,617
Music - 20,894 (20,894) - - -
Trip fund - 2,018 (2,018) - - -
Poor box/other outward
giving 1,179 3,356 (2,350) - - 2,185
Special collections for
3rd party charities - 7,685 (7,685) - - -
_______________
2,960,155 82,501 (177,351) 31,139 - 2,897,444
_______________
Unrestricted funds
General fund 191,709 442,594 (351,257) (32,139) 12,676 263,583
_______________
191,709 442,594 (351,257) (32,139) 12,676 263,583
_______________
Total funds 3,151,864 525,095 (528,608) - 12,676 3,161,027

The building fund represents the original value of the gift of the freehold property from the Archdiocese of Birmingham and the cost of improvements and renovations made to the church and school building less accumulated depreciation on both.

The Special Appeal Fund is for future improvements to the church and the extension of existing school building. The transfers made in the year for the special appeal have been made to fully represent the transfer of capital additions made in the year and to also consider, the capitalisation of items made in prior years.

The Mass Offerings Fund represents income made to the clergy for particular services, which are then paid to the clergy.

The Priest Training Fund represents donations and expenditure for clergy education.

The Music Fund represents income and expenditure for choir and organist services such as weddings and funerals.

The Poor Box Fund represents donations collected and distributed to various other charities.

The Other Fund represents an insurance claim for repairs and a grant received for the organ scholarship.

-20-

The Oxford Oratory of St Philip Neri

Notes to the Financial Statements (continued) for the year ended 31st December 2024

18. Analysis of net assets between funds

Fund balances at 31st December 2024 are represented by:

Unrestricted Designated Restricted Total
funds funds funds funds
£ £ £ £
Investments 125,103 - - 125,103
Tangible fixed assets 94,610 - 2,786,177 2,880,787
Current assets 106,832 - 187,177 294,009
Current liabilities (44,007) - - (44,007)
──── ──── ──── ────
Total net assets 282,538 - 2,973,354 3,255,892
════ ════ ════ ════
Unrestricted Designated Restricted Total
funds funds funds funds
£ £ £ £
Investments 119,339 - - 119,339
Tangible fixed assets 85,153 - 2,814,344 2,899,497
Current assets 110,172 - 83,100 193,272
Current liabilities (51,081) - - (51,081)
──── ──── ──── ────
Total net assets 263,583 - 2,897,444 3,161,027
════ ════ ════ ════

19. Commitments under operating leases

Operating leases

As at 31st December 2024 the total of the charity’s future minimum lease payments under non-cancellable operating leases was:

2024 2023
£ £
Amounts due within one year 9,728 3,929
Amounts due between one and five years 14,868 3,929
─── ───
24,596 7,858
═══ ═══

-20-

The Oxford Oratory of St Philip Neri

Notes to the Financial Statements (continued) for the year ended 31st December 2024

20. Members liability

Each member of the charitable company undertakes to contribute to the assets of the company in the event of it being wound up while he/she is a member, or within one year after he/she ceases to be a member, such amount as may be required, not exceeding £10 for the debts and liabilities contracted before he/she ceases to be a member.

21. Related party transactions

Total donations made by trustees to the charity were £1,350 (2023: £1,705). A further donation of £2,000 (2023: £nil) was received from a related party.

-22-