Charity registratlon number 1070369 (England and Walesl ASSOCIATION OF BRITISH CARMELS CHARITABLE TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
ASSOCIATION OF BRITISH CARMELS CHARITABLE TRUST LEGAL AND ADMINISTRATIVE INFORMATION Trustees Sister Shelagh Banks Sister Frances Cannon Sister Rosemary Doheny Sister Susan Thompson Charlty registration 1070369 Principal office Camielite Monastery Quidenham Norwch Norfolk NR16 2PH Independent examiner Steven Bajor FMAAT AATQB Bsc Colin Richardson Accountants Limited Watedoo House 17 Watertoo Road Norwch Norfolk NR3 1EH Solicitors Robert Meakin Keystone Law 48 Chancery Lane London VVC2A 1JF
ASSOCIATION OF BRITISH CARMELS CHARITABLE TRUST CONTENTS Page Report Independent examiners report Statement of financial activities Balance sheet Notes to the financial statements &10
ASSOCIATION OF BRITISH CARMELS CHARITABLE TRUST REPORT FOR THE YEAR ENDED 31 MARCH 2025 The Trustees present their annual report and financial statements for the year ended 31 March 2025. The financial statements have been prepared in accordance with the accounting policies set oul in note 1 to the financial statements and comply with the Charity's governing document, the Charities Act 2011. FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland. and the Charities SORP "Accounting and Reporting by Charities-. Statement of Recommended Practice applicable to charities preparing their accounts in accordan with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102)". Objectives and activities The Association of British Cannels Charitable Trust was established on 7, May 1998 by the President and Council of the Association of Carmels of Great Britain, who were at that time Susan Mccormack of Notting Hill Carmel. Carole Henderson of Ware Camiel. Mary Elizabeth Corrigan of Kirkintilloch Carmel, and Philomena Sargeant of Wood Hall Carmel. The original objects of the Trust were ststed as-. 1) The relief of need among members of the Carmelile Communities in Great Britain and elsewhere and among other persons who may in any way be associated with such Communities by the provision of residential care for those of the beneficiaries who are in need of such care but who do not have the means to provide it for themselves. 2) The advancement of the Roman Catholic religion in particular by means ofthe formation and training of students for the priesthood in the Camielite Order. Since its inception the Trust has supported the British Carmels in providing care for infirm sisters. It has also given a donation each year to the Central Fund of the Camelite Order. to help with the training of Carmelite friars for the priesthood, especially in poor countries. The Trust has relied on donations for its funds. mainly from the member caels, and over recent years its resources have diminished. In order to support the needs of Infi sisters the Trustees have therefore drawn on the funds of the Association of Carmels of Great Britain, which can benefit from more substantial donations, for instance if a monastery closes. The Trust has continued to give an annual donation to the Central Fund of the Order. bul not as much as in the past. One of the duties of the Trustees is to visil Dysart Carmel in Scol8nd at least once every three years. The community there run an infirmary unit and they have provided excellent care for sisters from many other Carmels in the Association since the unit was sel up in 1983. In 2012 a new Camiel was established al Maryton Grange in Liverpool with an infirmary wing in which care is provided for eight sisters. Marylon has also received infirm sisters from other Carmels, and here too Ihe standard of care provided is of a very high order. Both these Carmels employ lay staff to help wlh the infimiary work. Other CanTrels care for their own members at home as far as they can. and the Trust or the Association have helped with donations for infimary needs. The Association is currently paying care home fees for0 sisters. Since the Association has an increasingly elderly and infirm membership, the decision was taken early in 2025 to commit more funds to the Charitable Trust so as to enable the Trustees to meet the needs in this area more effectively. In March 2025 the Trustees requested pemiission from the Charities Commission to clarify and extend the objects of the Trust. In response the Commission proposed a rther amendment, which the Trustees accepted in a resolution dated 13th September 2025. As a result the objects of the Trusl are now.. 1) the relief of need among members of the communities of Camelite nuns in Great Britain and elsewhere in particular but not exclusively infim members and among other persons who may in any way be associated with such communities by the provision of financial support or accommodation or other assistance but who do not have the means to provide it for themselves. 21 the advancement ofthe Roman Catholic religion in particular by means ofthe fomiation and training of nuns and students for the priesthood in Ihe Carmelite Order.
ASSOCIATION OF BRITISH CARMELS CHARITABLE TRUST REPORT FOR THE YEAR ENDED 91 MARCH 2025 Th9se revlsed object5 &ryv8 the TnJees the flexibl8 oplons they nwl to provide support for infinn slste and to tsr for needs as they artse. Th8 new objects also re(xJgniz8 th8 importance of the fomation and tralnlng of nuns as well as prfests. The requirement of good fomallon has been empha5ized repeatedly in r8cent documents oflhe Roman Catholic Church, and many meetings and ¢JwrE8S are organiz8d to this end. Publlc benefft The Trust8es have (x)mplled th the duty in seclon of lh8 Charfues A( of 201110 have duo regard to Ihe gu5dance on publlc bgnefft pubSshed by the Chaiity Commlssion. By provlding funds to help sick and elderfy mamb6rs, the TTUSt not only r81ieves the need of lrfmi slster8 who have no resources of th&lr own. but also reduc8s the communits'es, dependenc8 on publlc funding. The TTUSt is atso commltted to the advancement of religion. parf£cularfy by supporung the education of CaTmelite frtars and nuns. Thè Camellte Ord8r is recx)gnlzed as makiThJ a vuable contribution to th8 WOTldw]de Catholic Church thmuth its witness and aposts)18te. Finan¢lal revlow In the y82r 202425 the Trust received £1,900 in donatlons from oth8r Carmets, £307 frDm a regular benefaclor, and a donallon of £400,IJ)O lust before th8 year 8nd from another Charitable Trust Thls was given to 6nable the Charity to implement tts plan lo increa5e1ts 8CtfvIty, particulady In the area of supportlng inflmi slsteTS. Total income for the year was £402,207. Expendllure consisted of a grant of £3,000 to the Central Fund of the Order. for the edwation offri8r8 In pwr COLmtries, and £260 (accru) for ac¢ountanGy. Resernes policy In rent years the Charity h85 Maintain reserves of approximately £20,000, SD as lo be ready to meèt needs ofup to that aTnounL However, the s>Jbstantial donauon received in March 2025 s11 enable the Chartty to Ina$£ Its activity. The Trustees anticipate that by 311t March 2026 both income and expendlture will have increased, and a new level for 69)y•S will havo been esiablished. Strudur&. gcv8rnanca and n89mOnt Th8 Tntslees are the President and Counc41 of the Associafjon of Camiels of Great Brftain. Electrons are held every three years at the Association's General A5S8mb*. Stnce the lesl As58mbly, whith took plao In September 2024, Ihe Trustses have been Sisler Shelagh Banks of Quidenham Cannef, Sister Frances Cannon of Dysart Camiel, Slstsr Ros8Tnary Doheny of Maryton Camel (reptaung Sister Margaret Prickett of Ware Ca81}, and Slsiw Susan Thompson of Nottlng Hill Camel. Sister Jane Edmunds of Wolverhampton Carrnel was appolnted as Treasurer In Septsmber 2024 {Tepladng Slst&r Sally Rollo of Dysart Camel). None of the Trustses has any betial Interest In the Ctkqrfty. The Trustees meet al18asÉ Iwice 8 year and discuss matters pertaining to the Trust., they also correspond regularly through the year by email. They have aGcess to profe5SiCtnal adwc8 when necessary. The report has been approved by the Board of Trustses and signwj on thdr behalf by.. Slster Sheiagh Banks Trustee
ASSOCIATION OF BRITISH CARMELS CHARITABLE TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ASSOCIATION OF BRITISH CARMELS CHARITABLE TRUST I report to the Trustees on my examination of the financial ststements of Association of British Camels Charitable Trust (the charity) for the year ended 31 March 2025. Responsibilities and basis of report As the Trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011. I report in respect of my examination of the charity's financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145{5llb) of the CharitiesAct 2011. Independent examlner's statement Since the charty's gross income exceeded £250,000, the independent examiner must be a member of a body listed in Section 145 of the Charities Act 2011. 1 confimi that l am qualified to undertake the examination because l am a member of the Institute of Certified Praclising Accountants, which is one of the listed bodies. Your attention is drawn to the fact that the charity has ppared the financial statements in accordance wilh the relevant version of the Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities. Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regLFlations but has now been withdrawn. l understand that this has been done in order for the financial statements to provide a true and fair view in accordance with UK Generally Accepted Accounting Practice. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect. accounting records were not kept in respect of the charity as required by section 130 of the Charities Act 2011. the financial statements do not accord with those records.. or the financial statements do not comply with the applicable requirements concerning the fom and content of financial statements set out in the Chanties (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements give a true and fair view. which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection th the examination to which attention should be drawn in this report in order to enable a proper understsnding of the financial statements to be reached. Steven Bajor FMAAT AATQB Bsc Colln Richardson Accountants Limited Waterloo House 17 Waterloo Road Norwich Norfolk NR31EH Date..
ASSOCIATION OF BRITISH CARMELS CHARITABLE TRUST STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITUREACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 Unrestricted funds 2025 Unrestricted funds 2024 Notes Income from: Donations and legacies 402,207 2,177 Total income 402,207 2,177 Expenditure on: Charitable activities 3.000 3,300 Total expendlture 3.000 3,300 Net incomel(expenditure) and movement in funds 399,207 (1.123) Reconciliation of funds: Fund balanS at 1 April 2024 19,145 20,288 Fund balances at 31 March 2025 418,352 19,145 The statement of financial activits'es includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
ASSOCIATION OF BRITISH CARMELS CHARITABLE TRUST BALANCE SHEET ASAT31 MARCH 2025 2026 2024 Notes Current assets Cash at bank and In hand 418,352 19,145 CredltorJ: amounts falllng due w1th1n one year 10 (360) Nat current assets 417,992 19,145 Tho funds of tho charlty Unrestrided funds 11 417,992 19,145 417.992 19,145 The ffinandal statements re approved by the Trustees M .. Sister Shola Trustee Banks
ASSOCIATION OF BRITISH CARMELS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accounting policles Charity information The Association of British Carmels Charitable Trust is a registered charity in England and Wales. Its registered number is 1070369. 1.1 Basis of preparation The financial statements have been prepared in accordance wtth the charity's governing document, the Charities Act 2011, FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice appliCabe to charities preparing their accounts in accordance wilh the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102)" The is a Public Benefit Entity as defined by FRS 102. The financial ststements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved followng the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn. The financial statements are prepared in sterling. which is the ftjnctional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention, The principal accounting policies adopted are set out below. 1.2 Going concern At the time of approving the financial statements. the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable ftjture. Thus the Trustees continue to adopt the going concem basis of accounting in preparing the financial ststements. 1.3 Charltable funds The unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives. Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. At present there are no restricted or endowment fijnds. 1.4 Income Income is recognised when the charity is legally entttled to it after any performance conditions have been mel, the amounts can be measured reliably. and il is probable that income will be received Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipt or othetwise if the charity has been notified of an impending distribution, -the amount is known, and receipt is expected. If the amount is not known. the legacy is treated as a contingent asset.
ASSOCIATION OF BRITISH CARMELS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accounting pollcles (Contlnued) 1.5 Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third paty, it is probable that a transfer of economic benefits wll be required in settlement, and the amount of the obligation can be measured reliably. 1.6 Cash and cash equivalents Cash and cash equivalents include cash in hand. deposits held at call with banks, other short-temi liquid investments with original malurities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction. where the transaction is measured at the present value of the fLrture receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Basic financial liabilities Basic financial liabilities, including creditors and bank loans are initially recognised at transaction pri unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently rArried at amortised cost. using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the Ordin course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not. they are presented as non-current liabilities Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Derecognition of financial liabilities Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled. 1.7 Employees The charity has no employees. Critical accounting estlmates and judgements In the application of the charity's accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects lY that period, or in the period of the revision and fLrture periods where the revision affects both current and future periods.
ASSOCIATION OF BRITISH CARMELS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Income from donations and legacles Unrestricted funds 2026 Unrestrlcted funds 2024 Donations and gifts 402.207 2,177 Expendtture on ¢harltable activities 2025 2024 Dlrect costs Central Fund of the Order 3,000 3,300 Analysis by fund Unrestricted funds 3,000 3,300 Support costs allocated to activities 2025 2024 Governance costs 360 Analysed between.. Fundraising 360 360 Net movement in funds 2025 2024 The net movement in funds is stated after chargingl{crediting}'. Fees payable for the independent examination of the charity's financial statements 360 Trustees None of the Trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
ASSOCIATION OF BRITISH CARMELS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Employees The average monthly number of employees during the year was.. 2025 Number 2024 Number Total The charity has no employees Taxation The charity is exempt from taxation on its activities because all its income is applied for charitable purposes. 10 Creditors: amounts falling due within one year 2025 2024 Accruals and deferred income 360 11 Unrestricted funds The unrestricted fvnds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These may include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes. At 1 April 2024 Incoming resources Resources At 31 March expended 2025 General funds 19.145 402.207 (3,360} 417.992 Previous year: At 1 Aprll 2023 Incoming resources Resources At 31 March expended 2024 General funds 20,268 2,177 (3,300) 19,145 12 Related party transactions There were no disclosable related paty transactions during the year {2024 - none).
ASSOCIATION OF BRITISH CARMELS CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 13 Cash generated froml(absorbed by) operations 2025 2024 Surplusl{deficit) for the year 399,207 (1.123) Movements In working capital: Increase in creditors 360 Cash generated froml(absorbed by) operations 399,567 (1,123) 14 Analysis of changes in net funds The charity had no material debt during the year. 10-