REGISTERED CHARITY NUMBER: 1061968
Report of the Tnjstees and
Flnantlal Statemènts for thevear Ended 31 March 2023
The Mother Agnes Trust

The Mother AgnesTrust
Contents of the Flnanclal Statements
for the Year Ended 31 March 2023
Page
Report of the Trustees
Ito3
statement of Flnanclal Attlvltles
Balance Sheet
Notes to the Flnanclal Statements
6tolO
Detalled Statement of Flnanclal Actlvltles
li

The Mother Agnes Trust
TRUSTEES, REPORT
forthe Year Ended 31 March 2023
The trustees present their report wrf(h the financial stètements ol the charity for the year ended 31st March 2023. The
tru5tee5 h3ve 3dopted the provisions of Accounting and ReportinE by Charities.. Statement of Recommended Prèctice
applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applltable in the
UK and Republlc of Ireland IFRS 1021 leffÈctlve l Janu8ry 20151.
OBJE￿IvEs AND ACTIVITIES
Prln¢ipal otsje¢tives
To advance the Christian rel￿g10n In all or any of the followin8 Wav5 as the trustees think lit:_
The advancement and promotion of religion. theological education and trHininE for lay and ordained persons
in the Church of England and other churches in communion with it including lamongst other means) through
ecumeni5rn Wlth churche5 designated from time to time by the Archblshops of Canterbury anrl York pursuant
to the Church of England (Ecumenlcal Relatlonsl Measure 1988.,
The malntenonce and upkeep ol a theologlcal Ilbraryi
The relief ol aged, slck or needy nuns who are Of who have been profe55ed meTnbers of an AnElican Order or
Community and who arÈ or have bÈÈn involved In the promotion of Chrlstlan educatlon and training..
Such other charitable activities a5 theTru5tee5 may frorn time to tlme determlnÈ.
Property at Molmhurst St Mary
Sale of the18nd at the former convent at Holmhurst, St Mary was completed just prior to the start of the 2022-23
Financlal Year, on 18th March 2022. The Nun's Graveyard on that slte remalns In the care of the Trust.
Ongolng maintellance costs of this slte will remain the re5POn5ibility of the Trust.
ACHIEVEMENT AND PERFORMANCE
Charitable activitles
The trustee5 have de3lt with the object5 as follows..
Oble¢t I
Charity monles have been mède available in the form of grants and 108ns as indicated in the accounts to
part fund work on building5 adjzcent to Christ ChuT¢h, St Leonards-on-sea. The Trust previously supported
the Magnet Centre In these buildings but rhls did not d&velop out as origlnally envlsaged. The trustees are
now looking 3t alternative way5 of delivering Object l.
The Llbrary has been relocated to the St Augustine College ol Theology based at Malling Abbeyi Kent
4llowing an itnportant resourcè to be more fully used by a much wider group ol people from across the
50Utheast of England.
Following the dèath of the flnal slster of the Communlty of the Holy F8mily in late 2010 this object is in
al￿vance.
Oblect 2
Object 3
Public Benefit
The trustees wlsh to ensure that the wldest posslble publlc benellt Is secured within the par8rneter5 set down in the
Trust Deed. They will achieve this by ¢onsidÈrin8 thÈ fundlnE of rÈsourcÈs for educatlon and training as lald down In the
objects.
P8ge I

The M¢)iher Agnes Trust
TRUSTEES, REPORT
forihe Year Ended 31 Marth 2023
FINANCIAL REVIEW
Investment poll¢y and objective5
The trustees have considered In the past the most approprlate pollcy for Investing fund5 and found that 5pecialised
units, designed for the charlty sector, meet thelr requirement to generate both incotne and capital growth. Now the
trust has funds available lor Investrnent, this policy wlS1 be reviewed.
Reserves pollcy
Whilst there are unknown amounts of potentlal funding expected to be glven In the near futurÈ, there are difficultles in
expanding on the Reserves policy at thls time. As projects develop in partnership with Christ Church Old Bulldin85
Trust and a5 the Trustees continue to explore other po55ibilitie5 lor the use of its funds, continued conslderatlon wlll be
given to the development ol this policy.
Flnanclal posltlon
TotBI Income for the year amounted to £74.833.' wlth expense5 at a level of £162,840 a defScit of £87,957 for the year
was recorded. Expenses remain at a higher level partly due to additional cost5 arising frorn the trust's prevlous
ownership of the land. The trustees are also conscious of a poteTTrtial li&bility ol up to £370.996, as noted at polnt 12.
FUTURE PLANS
Since the receipt of funds from the sale of the former convent, careful conslderatlon has bÈen glven to the Trust's
vlslon as to the use of Sts funds. The Trust re￿In£ tommitted to Its moral obligation to reinvest In the H3stin8s area
In whSch it originated, and tts the upkeep of the 8raveyard. H3vin8 decided upon a course of action for the
investrnent of its fund5, the Trust will continue to consider how best it might put them to publlt beneflt in the
pursuance of its Objects in the comlng years.
STRUCTURE, GOVERNANCE ANO MANAGEMENT
Governing document
The Charity is governed by a Trust Deed dated 19 February 1997 as varied by supplementary deeds.
Recrvltment and appolntment of new trustees
The method of appointment of trustees 15 said down In the governing document.
ThÈ board of trustees cornprises 3 ex-officio trustees. l Co-opted trustee and I nominated trustee.
The ex-officio trustees sh311 be..
The Lord Bishop of Chlchester
- The Archdeacon of Ha5tings
-The Secretary of the Chichester Dlocesan Fund and Board of Flnance IlncorporatÈdl
The nominated trustee shall be a representative appointed by the Flnance Commltte@ of thÈ Chlehester Diocesan Fund
and 8oard of Fln3nce Iincorporatedl. The co-opted trustee Is aPfK)inted for an initial tertn of 5 years.
ew trustees receive trèlnlng from the Charlty's professional advisors and the existing trustees where needed to
supplement that recelved from othercharities.
Page 2

The Mother Agnes Trust
TRUSTEES, REPORT
forthe Year Ended 31 March 2023
REFERENCE AND ADMINISTRATIVE DETAIL5
Reglstered Charlty number
1061968
Prlnclpal address
The Palace
Cèfion Lane
Chlchester
West Sussex
P019 IPY
Trustee5
The Right Reverend Or M Cwarner
M5 G HlgeSns
Lord Bishop of Chichester
Secretary of the Chichester Dlocesan Fund
and Board of Flnance Ilncorporatedl
Archdeacon ol Hastin85
Nominated by Chlchester DBF
Appointed 10.11.22, resigned 20.06.23
Appolnted 10.11.22
The Venerable E Dowler
S Stonor
The Very Reverend John Hall
Mr G Mahon
Independent Examlner
A Kelly FCA
2 Woodberry Close
Chiddingfold
Godalming
Surrey
GU8 4SF
Bankers
Barc13ys Bank plc
74175 East Street
Chlchester
West Sussèx
P019 IPY
Irwin Mitchell LLP
Thomas Eggar House
Friary Lane
Chichester
West Sussex
P019 IUF
Approved by order ol the board of trustees on
and signed on its behalf by..
The Right Reverend Dr M C Warner- Trustee
Page 3

The MotherAgne$ Tru$t
Statement of f inancial Actlvltles
lor the Year Endod 31 March 2023
2023
2022
Unrèstrlcted Unrestrlcted
IL)nds
funds
Note5
INCOME AND ENDOWMENTS FROM
Investment incorne
Other income
74,883
158
45,030
Total
74,883
45,188
EXPENDITURE ON
Property and professional £05ts
$0,054
11,434
Charitable activities
Grants
Support costs
101,500
11.286
6,849
Total
162,840
18,283
187,9571
26,905
RECONCILIATION OF FUNDS
Proflt on dlsposal of pr4pe
4.270.853
Write-off balance due from
Chrlst Church. 5t Leonards Old Buildlngs Trust
1679,7841
NET IEXPENDITUREIIINCOME
187,9571
3,617,974
rotal tunds brought forward
4,295.812
677.838
TOTAL FUNDS CARRIED FORWARO
4.207,855
4.295,812
The note5 form part ol these financial statements
Page 4

The Mother AgnesTrust
Balance Sheet
31 March 2023
2023
2022
Unrestricted Unre5trictEd
funds
funds
Notes
CURRENT ASSETS
Oebtors.. amounts f3lllno due within one year
Cash at bank
245
4,245.722
491
4,482,459
4,245,967
4,482,950
CREDITORS
Amounts fallin8 due withln one year
138,1121
1187,1381
NET CURRENT ASSETS
4,207,855
4,295,8J2
NET ASSÉTS
4,207.855
4.295.812
FUNDS
io
Unrestrlcted funds
4.207,855
4,295,812
The financlal statements were approved by the Board of Trustees and authorlsed for issue on
were Signed on 115 behalf by-
Reverend Dr M C Warner- Trustee
The note5 form part of these financial 5tatementS
Page 5

The MotherAgnes Trust
Notes to the Financlal Statements
lor the Year Ended 31 Marth 2023
ACCOUNTING POLICIES
asis ol preparing the financial statements
The financial statements of the charlty, which is a public benefSt entity under FRS 102, havÈ been prepared
accordance vjith the Charities SORP IFRS 1021 'Accounting and Reporting by Charities.. Statement of
Recommended Practice applicable to charities preparing their accounts in accordance with the Flnantial
Reporting Standard appllcable In the UK and Republlc of Ireland IFRS 1021 (effeCt￿vÉ l January 20191., Financial
Reporting Standard 102 'The Financial Reporting Stand3rd applicable In the UK and Republlc ol Ireland, and the
Charities Act 2011. The linanclal statements have been prepared under the hlstoricèl cost convention.
Flnanclal reporilnE standa¥d 102- reduced disclosure exemption5
The charity has taken advantage of the following disclosure exemptions in preparing these financial statements,
as permltted by FRS 102'The Flnanclal Reporting standard applicable In the UK and Republic of Ireland,:
the requirements of Sect5on 7 Statement of Cash Flow5.
Income
All income is recognised in the Statement of Financial Actiwities once the charity has entltlement to the funds. It
is probable th8t the income w511 be rÈcÈived and thÈ amount can be mÈasured reliably.
E¥penditure
Llabllitles are recognlsed as expendlture as soon as there is a legal or constructlve obl[gat￿n committing the
charity to that expenditure, it Is probable that a tr3nsler of econornic benefit5 will be required in settlement and
the 3rnount ol the obligatioll can be measured reliably. Expenditure is accounted for on an 3c£ruals ba51s and
has been classified under headings th8t aggregate all cost related to the categor¥. Where costs cannot be dirÈctlv
3ttrlbuted to partlcular headings they have been allocated to actwities on a basi5 COn515tent with the use of
resovrces.
Govemance costs
Compri5e5 the costs ol governance arrangements, which relate to the general running ol the Charltv.
Taxation
The Charity is exempt from direct tax OD its charitable a£tivitie5.
Fund accountlng
Unrestri¢tÈd fund5 can be used in accordan￿ with the charitable objectives at the di5cretlon of the trustees.
Restricted fund5 can only be used foi particular restricted P￿r￿seS within the objects of the Charity. Re5trictlons
arise when specified by the donof or when funds are raised lor particular restricted purposes.
Page 6
continued...

The Mother ABnÈs Trust
Notes to the Flnanclal Statement5- contlnued
for the Year Ended 31 Marth 2023
INVESTMENT INCOME
2023
2022
Dep051t interest
74.883
158
OTHER INCOME
2023
2022
Extension fees
sundry income
45.000
30
45,030
PROFESSIONAL FEES
2023
2022
Property C05t5
Professlonal fees
31,021
19,033
11,434
50,054
11,434
SUPPORT COSTS
2023
2022
Man38ernent costs
Recrultment lee
Governance c05ts'.
Accountancy
Auditor's ￿Mun@￿tion{lo22 on￿}
Administrator costs
1,753
1,079
1,429
2,000
600
5,854
2,020
11,286
6,849
PROFIT ON DISPOSAL OF PROPERTY
Sale ol propeTtyat Holmhurst, st Mary
2023
2022
Sale proceeds Inetl
Book value
4,450,853
1180,0001
4,270,853
Page 7
continued...

The MotherAgnes Trust
Notes to ihe Flnanclal Statements- ¢ontlnued
for the Year Ended 31 March 2023
TRUSTEES. REMUNERATION AND BENEFITS
The trustees did not receive any remuneration in their c8pa£ity as trustees.
Trustees, expenses
Durlng the year no expenses12022.. Enill were paid on behalf of the trustees in respect ol expenses.
DEBTOR5
2023
2022
Amounts falllng due wlthln one year..
pre￿¥MentS and accrued income
245
491
cIt£DITORS: AMOUNTS FALLING DLIE WITHIN ONE YEAR
2023
2022
Trade credltors
Other loèns
Other creditor5
Accruals
35,262
135,000
11.430
5,446
36,612
1.500
38,112
187.138
Page 8
contlnued,..

The MotherAgnesTrust
Notes to the Financial StatemÈnts-contlnuÈd
for the Vear Ended 31 March 2023
io.
MOVEMENTIN FUNDS
Net
movement
in funds
At
31.3.23
At 1.4.22
Unrestrlcted funds
General fund
4.295.812
187,9571
4.207,855
YOTAI FUNDS
4,295,812
187,9571
4,207.855
Net movement In fund5, Included in the above are as follows..
Incomln8
re5ource5
Resources
expended
Movement
In funds
Unrestricted fund5
General fund
74,883
162,840
187,9571
TOTAL FUNDS
74,883
162,840
187,9571
Compar3tive5 for movement In funds for the year ended 31 March 2022
et
movement
In funds
At
31.3.22
Af 1.4.21
UNrestrlcted funds
General fund
677,838
3,617,974
4,295.812
TOTAL FUNDS
677.838
3.617,974
4,295,812
Comparatlve net movement In funds, intluded in the above are as follows (year ended 31 March 20221..
Incomlng
resources
Resour￿$
expended
Movement
In funds
Unrestricted funds
Genera1 fund
4,316,041
698,067
3,617,974
TOTAL FUNDS
4,316,041
698,067
3,617,974
Page 9
continued...

The Mother AgThe5 Trust
Notes to the Flnantlal StatÈments-¢ont¢nved
for the Year Ended 31 March 2023
ii.
RELATED PARTY DISCLOSURE5
Other loans Include a bal8nce of £nll12022.' E55,0001 duÈ to Bishop OttÈrTrust whith ha5two common Trustees
and a balance of £hll12022.. £10,000) to The Chlchester Dloce5an Fund and Board of Finance which has three
cornmon Trustees. Both 8rnounts were repaid during the year.
12.
CONTINGENT LIABILITY
The trustees are consclous of a potentlal Ilability of up to E370,996 in ie5pect of 50rDe or all of the fund5
expended by the ChlchestÈr DlocÈsan Board of Finance in relation to the former Magnet Centre Project, in
respectolwhich inherited docurnents dlsclose noclearagreement berween theTrusi ènd the B03rd asto deficits
arising from that Project. Pendlng the aptk)Intmentof an additlonal unconflicted trustee it has Dot been possible
to concludÈ this matter.
P38e 10

The Mother Agnes Trust
Detalled Statement of Flnancial Actlvltles
lor the Year Ended 31 March 2013
2023
2022
INCOME AND ENDOWMENTS
Investment Income
Investments
Deposlt 3ccount interest
Other income
Extension fees
Other income
72,266
2,617
158
45,000
30
Total incomi#4 Tesources
74,883
45,188
EXPENDITURE
Property costs
Professional fees
31,021
19,033
Ll.434
50,054
11,434
Grants pald
101,500
Support costs
Mana8emont
Insurance
loan Interest
Sundry expen5e5
1.286
954
443
32
467
1,753
1,429
Recrubtment fee
1,079
Administration costs
Auditor's fee 2022
Accountancy fees
Administrator costs
600
2.000
5,854
2,400
1,000
2,020
8,454
5,420
Total resourcÈs expended
162,840
18,283
187,9571
26.905
Prollt on disposal
Loan wrlte-ofF
4.270,853
1679.7841
Net lexpendlturel/ln£ome for the year
187,9571
3,617,974
Thls pa8e does not forrn wrt ol the statutory lin3ncial staternentS
PaÈe 11

REGISTERED CHARITY NUMBER: 1061968
Report of the Tnjstees and
Flnantlal Statemènts for thevear Ended 31 March 2023
The Mother Agnes Trust

The Mother AgnesTrust
Contents of the Flnanclal Statements
for the Year Ended 31 March 2023
Page
Report of the Trustees
Ito3
statement of Flnanclal Attlvltles
Balance Sheet
Notes to the Flnanclal Statements
6tolO
Detalled Statement of Flnanclal Actlvltles
li

The Mother Agnes Trust
TRUSTEES, REPORT
forthe Year Ended 31 March 2023
The trustees present their report wrf(h the financial stètements ol the charity for the year ended 31st March 2023. The
tru5tee5 h3ve 3dopted the provisions of Accounting and ReportinE by Charities.. Statement of Recommended Prèctice
applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applltable in the
UK and Republlc of Ireland IFRS 1021 leffÈctlve l Janu8ry 20151.
OBJE￿IvEs AND ACTIVITIES
Prln¢ipal otsje¢tives
To advance the Christian rel￿g10n In all or any of the followin8 Wav5 as the trustees think lit:_
The advancement and promotion of religion. theological education and trHininE for lay and ordained persons
in the Church of England and other churches in communion with it including lamongst other means) through
ecumeni5rn Wlth churche5 designated from time to time by the Archblshops of Canterbury anrl York pursuant
to the Church of England (Ecumenlcal Relatlonsl Measure 1988.,
The malntenonce and upkeep ol a theologlcal Ilbraryi
The relief ol aged, slck or needy nuns who are Of who have been profe55ed meTnbers of an AnElican Order or
Community and who arÈ or have bÈÈn involved In the promotion of Chrlstlan educatlon and training..
Such other charitable activities a5 theTru5tee5 may frorn time to tlme determlnÈ.
Property at Molmhurst St Mary
Sale of the18nd at the former convent at Holmhurst, St Mary was completed just prior to the start of the 2022-23
Financlal Year, on 18th March 2022. The Nun's Graveyard on that slte remalns In the care of the Trust.
Ongolng maintellance costs of this slte will remain the re5POn5ibility of the Trust.
ACHIEVEMENT AND PERFORMANCE
Charitable activitles
The trustee5 have de3lt with the object5 as follows..
Oble¢t I
Charity monles have been mède available in the form of grants and 108ns as indicated in the accounts to
part fund work on building5 adjzcent to Christ ChuT¢h, St Leonards-on-sea. The Trust previously supported
the Magnet Centre In these buildings but rhls did not d&velop out as origlnally envlsaged. The trustees are
now looking 3t alternative way5 of delivering Object l.
The Llbrary has been relocated to the St Augustine College ol Theology based at Malling Abbeyi Kent
4llowing an itnportant resourcè to be more fully used by a much wider group ol people from across the
50Utheast of England.
Following the dèath of the flnal slster of the Communlty of the Holy F8mily in late 2010 this object is in
al￿vance.
Oblect 2
Object 3
Public Benefit
The trustees wlsh to ensure that the wldest posslble publlc benellt Is secured within the par8rneter5 set down in the
Trust Deed. They will achieve this by ¢onsidÈrin8 thÈ fundlnE of rÈsourcÈs for educatlon and training as lald down In the
objects.
P8ge I

The M¢)iher Agnes Trust
TRUSTEES, REPORT
forihe Year Ended 31 Marth 2023
FINANCIAL REVIEW
Investment poll¢y and objective5
The trustees have considered In the past the most approprlate pollcy for Investing fund5 and found that 5pecialised
units, designed for the charlty sector, meet thelr requirement to generate both incotne and capital growth. Now the
trust has funds available lor Investrnent, this policy wlS1 be reviewed.
Reserves pollcy
Whilst there are unknown amounts of potentlal funding expected to be glven In the near futurÈ, there are difficultles in
expanding on the Reserves policy at thls time. As projects develop in partnership with Christ Church Old Bulldin85
Trust and a5 the Trustees continue to explore other po55ibilitie5 lor the use of its funds, continued conslderatlon wlll be
given to the development ol this policy.
Flnanclal posltlon
TotBI Income for the year amounted to £74.833.' wlth expense5 at a level of £162,840 a defScit of £87,957 for the year
was recorded. Expenses remain at a higher level partly due to additional cost5 arising frorn the trust's prevlous
ownership of the land. The trustees are also conscious of a poteTTrtial li&bility ol up to £370.996, as noted at polnt 12.
FUTURE PLANS
Since the receipt of funds from the sale of the former convent, careful conslderatlon has bÈen glven to the Trust's
vlslon as to the use of Sts funds. The Trust re￿In£ tommitted to Its moral obligation to reinvest In the H3stin8s area
In whSch it originated, and tts the upkeep of the 8raveyard. H3vin8 decided upon a course of action for the
investrnent of its fund5, the Trust will continue to consider how best it might put them to publlt beneflt in the
pursuance of its Objects in the comlng years.
STRUCTURE, GOVERNANCE ANO MANAGEMENT
Governing document
The Charity is governed by a Trust Deed dated 19 February 1997 as varied by supplementary deeds.
Recrvltment and appolntment of new trustees
The method of appointment of trustees 15 said down In the governing document.
ThÈ board of trustees cornprises 3 ex-officio trustees. l Co-opted trustee and I nominated trustee.
The ex-officio trustees sh311 be..
The Lord Bishop of Chlchester
- The Archdeacon of Ha5tings
-The Secretary of the Chichester Dlocesan Fund and Board of Flnance IlncorporatÈdl
The nominated trustee shall be a representative appointed by the Flnance Commltte@ of thÈ Chlehester Diocesan Fund
and 8oard of Fln3nce Iincorporatedl. The co-opted trustee Is aPfK)inted for an initial tertn of 5 years.
ew trustees receive trèlnlng from the Charlty's professional advisors and the existing trustees where needed to
supplement that recelved from othercharities.
Page 2

The Mother Agnes Trust
TRUSTEES, REPORT
forthe Year Ended 31 March 2023
REFERENCE AND ADMINISTRATIVE DETAIL5
Reglstered Charlty number
1061968
Prlnclpal address
The Palace
Cèfion Lane
Chlchester
West Sussex
P019 IPY
Trustee5
The Right Reverend Or M Cwarner
M5 G HlgeSns
Lord Bishop of Chichester
Secretary of the Chichester Dlocesan Fund
and Board of Flnance Ilncorporatedl
Archdeacon ol Hastin85
Nominated by Chlchester DBF
Appointed 10.11.22, resigned 20.06.23
Appolnted 10.11.22
The Venerable E Dowler
S Stonor
The Very Reverend John Hall
Mr G Mahon
Independent Examlner
A Kelly FCA
2 Woodberry Close
Chiddingfold
Godalming
Surrey
GU8 4SF
Bankers
Barc13ys Bank plc
74175 East Street
Chlchester
West Sussèx
P019 IPY
Irwin Mitchell LLP
Thomas Eggar House
Friary Lane
Chichester
West Sussex
P019 IUF
Approved by order ol the board of trustees on
and signed on its behalf by..
The Right Reverend Dr M C Warner- Trustee
Page 3

The MotherAgne$ Tru$t
Statement of f inancial Actlvltles
lor the Year Endod 31 March 2023
2023
2022
Unrèstrlcted Unrestrlcted
IL)nds
funds
Note5
INCOME AND ENDOWMENTS FROM
Investment incorne
Other income
74,883
158
45,030
Total
74,883
45,188
EXPENDITURE ON
Property and professional £05ts
$0,054
11,434
Charitable activities
Grants
Support costs
101,500
11.286
6,849
Total
162,840
18,283
187,9571
26,905
RECONCILIATION OF FUNDS
Proflt on dlsposal of pr4pe
4.270.853
Write-off balance due from
Chrlst Church. 5t Leonards Old Buildlngs Trust
1679,7841
NET IEXPENDITUREIIINCOME
187,9571
3,617,974
rotal tunds brought forward
4,295.812
677.838
TOTAL FUNDS CARRIED FORWARO
4.207,855
4.295,812
The note5 form part ol these financial statements
Page 4

The Mother AgnesTrust
Balance Sheet
31 March 2023
2023
2022
Unrestricted Unre5trictEd
funds
funds
Notes
CURRENT ASSETS
Oebtors.. amounts f3lllno due within one year
Cash at bank
245
4,245.722
491
4,482,459
4,245,967
4,482,950
CREDITORS
Amounts fallin8 due withln one year
138,1121
1187,1381
NET CURRENT ASSETS
4,207,855
4,295,8J2
NET ASSÉTS
4,207.855
4.295.812
FUNDS
io
Unrestrlcted funds
4.207,855
4,295,812
The financlal statements were approved by the Board of Trustees and authorlsed for issue on
were Signed on 115 behalf by-
Reverend Dr M C Warner- Trustee
The note5 form part of these financial 5tatementS
Page 5

The MotherAgnes Trust
Notes to the Financlal Statements
lor the Year Ended 31 Marth 2023
ACCOUNTING POLICIES
asis ol preparing the financial statements
The financial statements of the charlty, which is a public benefSt entity under FRS 102, havÈ been prepared
accordance vjith the Charities SORP IFRS 1021 'Accounting and Reporting by Charities.. Statement of
Recommended Practice applicable to charities preparing their accounts in accordance with the Flnantial
Reporting Standard appllcable In the UK and Republlc of Ireland IFRS 1021 (effeCt￿vÉ l January 20191., Financial
Reporting Standard 102 'The Financial Reporting Stand3rd applicable In the UK and Republlc ol Ireland, and the
Charities Act 2011. The linanclal statements have been prepared under the hlstoricèl cost convention.
Flnanclal reporilnE standa¥d 102- reduced disclosure exemption5
The charity has taken advantage of the following disclosure exemptions in preparing these financial statements,
as permltted by FRS 102'The Flnanclal Reporting standard applicable In the UK and Republic of Ireland,:
the requirements of Sect5on 7 Statement of Cash Flow5.
Income
All income is recognised in the Statement of Financial Actiwities once the charity has entltlement to the funds. It
is probable th8t the income w511 be rÈcÈived and thÈ amount can be mÈasured reliably.
E¥penditure
Llabllitles are recognlsed as expendlture as soon as there is a legal or constructlve obl[gat￿n committing the
charity to that expenditure, it Is probable that a tr3nsler of econornic benefit5 will be required in settlement and
the 3rnount ol the obligatioll can be measured reliably. Expenditure is accounted for on an 3c£ruals ba51s and
has been classified under headings th8t aggregate all cost related to the categor¥. Where costs cannot be dirÈctlv
3ttrlbuted to partlcular headings they have been allocated to actwities on a basi5 COn515tent with the use of
resovrces.
Govemance costs
Compri5e5 the costs ol governance arrangements, which relate to the general running ol the Charltv.
Taxation
The Charity is exempt from direct tax OD its charitable a£tivitie5.
Fund accountlng
Unrestri¢tÈd fund5 can be used in accordan￿ with the charitable objectives at the di5cretlon of the trustees.
Restricted fund5 can only be used foi particular restricted P￿r￿seS within the objects of the Charity. Re5trictlons
arise when specified by the donof or when funds are raised lor particular restricted purposes.
Page 6
continued...

The Mother ABnÈs Trust
Notes to the Flnanclal Statement5- contlnued
for the Year Ended 31 Marth 2023
INVESTMENT INCOME
2023
2022
Dep051t interest
74.883
158
OTHER INCOME
2023
2022
Extension fees
sundry income
45.000
30
45,030
PROFESSIONAL FEES
2023
2022
Property C05t5
Professlonal fees
31,021
19,033
11,434
50,054
11,434
SUPPORT COSTS
2023
2022
Man38ernent costs
Recrultment lee
Governance c05ts'.
Accountancy
Auditor's ￿Mun@￿tion{lo22 on￿}
Administrator costs
1,753
1,079
1,429
2,000
600
5,854
2,020
11,286
6,849
PROFIT ON DISPOSAL OF PROPERTY
Sale ol propeTtyat Holmhurst, st Mary
2023
2022
Sale proceeds Inetl
Book value
4,450,853
1180,0001
4,270,853
Page 7
continued...

The MotherAgnes Trust
Notes to ihe Flnanclal Statements- ¢ontlnued
for the Year Ended 31 March 2023
TRUSTEES. REMUNERATION AND BENEFITS
The trustees did not receive any remuneration in their c8pa£ity as trustees.
Trustees, expenses
Durlng the year no expenses12022.. Enill were paid on behalf of the trustees in respect ol expenses.
DEBTOR5
2023
2022
Amounts falllng due wlthln one year..
pre￿¥MentS and accrued income
245
491
cIt£DITORS: AMOUNTS FALLING DLIE WITHIN ONE YEAR
2023
2022
Trade credltors
Other loèns
Other creditor5
Accruals
35,262
135,000
11.430
5,446
36,612
1.500
38,112
187.138
Page 8
contlnued,..

The MotherAgnesTrust
Notes to the Financial StatemÈnts-contlnuÈd
for the Vear Ended 31 March 2023
io.
MOVEMENTIN FUNDS
Net
movement
in funds
At
31.3.23
At 1.4.22
Unrestrlcted funds
General fund
4.295.812
187,9571
4.207,855
YOTAI FUNDS
4,295,812
187,9571
4,207.855
Net movement In fund5, Included in the above are as follows..
Incomln8
re5ource5
Resources
expended
Movement
In funds
Unrestricted fund5
General fund
74,883
162,840
187,9571
TOTAL FUNDS
74,883
162,840
187,9571
Compar3tive5 for movement In funds for the year ended 31 March 2022
et
movement
In funds
At
31.3.22
Af 1.4.21
UNrestrlcted funds
General fund
677,838
3,617,974
4,295.812
TOTAL FUNDS
677.838
3.617,974
4,295,812
Comparatlve net movement In funds, intluded in the above are as follows (year ended 31 March 20221..
Incomlng
resources
Resour￿$
expended
Movement
In funds
Unrestricted funds
Genera1 fund
4,316,041
698,067
3,617,974
TOTAL FUNDS
4,316,041
698,067
3,617,974
Page 9
continued...

The Mother AgThe5 Trust
Notes to the Flnantlal StatÈments-¢ont¢nved
for the Year Ended 31 March 2023
ii.
RELATED PARTY DISCLOSURE5
Other loans Include a bal8nce of £nll12022.' E55,0001 duÈ to Bishop OttÈrTrust whith ha5two common Trustees
and a balance of £hll12022.. £10,000) to The Chlchester Dloce5an Fund and Board of Finance which has three
cornmon Trustees. Both 8rnounts were repaid during the year.
12.
CONTINGENT LIABILITY
The trustees are consclous of a potentlal Ilability of up to E370,996 in ie5pect of 50rDe or all of the fund5
expended by the ChlchestÈr DlocÈsan Board of Finance in relation to the former Magnet Centre Project, in
respectolwhich inherited docurnents dlsclose noclearagreement berween theTrusi ènd the B03rd asto deficits
arising from that Project. Pendlng the aptk)Intmentof an additlonal unconflicted trustee it has Dot been possible
to concludÈ this matter.
P38e 10

The Mother Agnes Trust
Detalled Statement of Flnancial Actlvltles
lor the Year Ended 31 March 2013
2023
2022
INCOME AND ENDOWMENTS
Investment Income
Investments
Deposlt 3ccount interest
Other income
Extension fees
Other income
72,266
2,617
158
45,000
30
Total incomi#4 Tesources
74,883
45,188
EXPENDITURE
Property costs
Professional fees
31,021
19,033
Ll.434
50,054
11,434
Grants pald
101,500
Support costs
Mana8emont
Insurance
loan Interest
Sundry expen5e5
1.286
954
443
32
467
1,753
1,429
Recrubtment fee
1,079
Administration costs
Auditor's fee 2022
Accountancy fees
Administrator costs
600
2.000
5,854
2,400
1,000
2,020
8,454
5,420
Total resourcÈs expended
162,840
18,283
187,9571
26.905
Prollt on disposal
Loan wrlte-ofF
4.270,853
1679.7841
Net lexpendlturel/ln£ome for the year
187,9571
3,617,974
Thls pa8e does not forrn wrt ol the statutory lin3ncial staternentS
PaÈe 11

**Independent Examiner's Report to the Trustees of The Mother Agnes Trust** 

I report on the accounts of the Trust for the year ended 31 March 2023, which are set out on pages 4 to 10. 

## **Respective responsibilities of Trustees and examiner** 

The Charity’s Trustees are responsible for the preparation of the accounts. The Charity’s Trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. 

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

- examine the accounts under section 145 of the 2011 Act; 

- follow the procedures laid down in the General Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and 

- state whether particular matters have come to my attention. 

## **Basis of independent examiner's statement** 

My examination was carried out in accordance with General Directions given by the Charity Commission.  An examination includes a review of the 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. 

## **Other Matters** 

Your attention is drawn to the fact that the charity has prepared the accounts (financial statements) 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 UK and Republic of Ireland (FRS102), second edition issued on 17 October 2019 in preference to the Accounting and Reporting Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has since been withdrawn. 

We understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2019. 

## **Independent examiner's statement** 

In connection with my examination, no matter has come to my attention: 

- 1 which gives me reasonable cause to believe that, in any material respect, the requirements: 

- to keep accounting records in accordance with section 130 of the 2011 Act; and 



- to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act 

have not been met; or 

2. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. 

……………………………………………….. A Kelly FCA 2 Woodberry Close Chiddingfold Godalming Surrey GU8 4SF 

Date: 22 December 2023