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2023-03-31-accounts

Friends of the Venerabile

Report and Accounts

31 March 2023

Registered Charity number 1075141

Friends of The Venerabile

Contents Page
Legal and Administra/ve Informa/on 3
Report of the Trustees 4
Independent Examiner’s Report 6
Statement of Financial Ac/vi/es for the year ended 31 March 2023 8
Balance Sheet as at 31 March 2023 9
Notes to the accounts for the year ended 31 March 2023 10

Legal and Administra<ve Informa<on

TRUSTEES

Mrs L Bradley Chair – From October 2023 Dr A Brinkley Appointed September 2022 J Holroyd Secretary J Hudson M A Lang Chair – Died October 2023 M J L’Estrange Treasurer – From September2022 Mrs M Jones Appointed September 2022 Ms A Reeve A J Rogers Treasurer - Resigned September 2022 Miss L Sage P Waters

ADDRESS

11 Fairfax Road Bingley BD16 4DR

CHARITY REGISTRATION NUMBER 1075141

INDEPENDENT EXAMINER

10 Swan Lane Stock Ingatestone Essex CM4 9BQ

PRINCIPAL BANKERS

HSBC Bank plc Pall Mall Branch 69 Pall Mall London SW1 5EX

Report of the Trustees

The Trustees present their report and accounts for the year ended 31 March 2023.

Cons=tu=on

The Friends of The Venerabile's Cons/tu/on was adopted on 3 October 1998 and is registered with the Charity Commission, Charity Registra/on No 1075141.

Object

The object of the Trust is the advancement of religion by promo/ng the work of the Venerable English College in Rome connected with the advancement of the Roman Catholic religion in England and Wales and suppor/ng students of the College in their training for the priesthood by prayer and encouragement.

Organisa=on of the Trust

The Trust is administered by the Trustees who meet four /mes a year. The Chair, Treasurer and Secretary manage any day-to-day opera/ons. The Trust employs no staff.

Review of the Period

During the period the Trust has made dona/ons to the College of £19,624. It has also contributed £3,531 to fund the publica/on of the College’s The Venerabile magazine.

Financial posi=on of the Trust

and is considered sa/sfactory by the Trustees.

Future developments

near future.

Reserves Policy

costs with the balance being donated to the College.

Trustees

The Trustees who served during the year are listed on page 3. The appointment of Trustees is governed by the trust deed; the Trustees are authorised to appoint new Trustees to fill vacancies arising through the resigna/on or death of an exis/ng Trustee.

Risk assessment

In line with the requirement for Trustees to undertake a risk assessment exercise and report on the same in their annual report, the Trustees have looked at the risks the Trust currently faces and have reviewed the measures already in place, or needing to be put in place, to deal with them.

Having assessed the major risks to which the Trust is exposed, the Trustees believe that by monitoring reserve levels, by ensuring controls over key financial systems, and by examining the opera/onal and business risks faced by the Trust, they have established effec/ve systems to mi/gate those risks.

The Trustees have taken out insurance to cover any personal accidents incurred at events held by the Trust and in addi/on to indemnify the Trustees.

Statement of Trustees' Responsibili=es

a true and fair view of the state of affairs of the Trust and of the results for that period. In preparing those accounts, the Trustees are required to:

The Trustees are responsible for maintaining proper accoun/ng records which disclose with reasonable accuracy at any /me the financial posi/on of the Trust. They are also responsible for safeguarding the assets of the Trust and hence for taking reasonable steps for the preven/on and detec/on of fraud and other irregulari/es.

Signed on behalf of the Trustees on 5 February 2024 by:

Michael L’Estrange – Trustee

Independent Examiner’s Report

I report on the accounts of the Friends of the Venerabile for the year ended 31 March 2023 which comprise the Statement of Financial Ac/vi/es, Balance Sheet and related notes.

This report is made solely to the trust's trustees, as a body, in accordance with Sec/on This report is made solely to the charity's trustees, as a body, in accordance with Section 43(3) of the Charities Act 1993. My examination has been undertaken so 145(3) of the Chari/es Act 2011. My examina/on has been undertaken so that I might that I might state to the charity's trustees those matters we are required to state to state to the trust’s trustees those majers that are required to be stated to them in an them in an aindependent examiner's report and for no other purpose. To the fullest independent examiner's report and for no other purpose. To the fullest extent extent permitted by law, I do not accept or assume responsibility to anyone other permijed by law, I do not accept or assume responsibility to anyone other than the than the charity and the charity's trustees as a body formy examination for this trust and the trust's trustees as a body, for my examina/on, for this report, or for the opinions I have formed.

Respec=ve responsibili=es of trustees and the independent examiner

As the trust’s trustees you are responsible for the prepara/on of the accounts. The trust's trustees consider an audit is not required this year under sec/on 144(2) of the Chari/es Act 2011 and that an independent examina/on is needed.

It is my responsibility to:

Basis of independent examiner's report

My examina/on was carried out in accordance with the General Direc/ons given by the Charity Commission. An examina/on includes a review of the accoun/ng records kept by the charity and a comparison of the accounts presented with those records. It also includes considera/on of any unusual items or disclosures in the accounts, and seeking explana/ons from you as trustees concerning any such majers. 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 majers set out in the statement below.

Independent examiners’ statement

In connec/on with my examina/on, no majer has come to my ajen/on:

Statement of Financial Ac<vi<es for the year ended 31 March 2023

Notes
Incoming resources
Incoming resources from generated funds:
Voluntary income
Members’ dona5ons
Other dona5ons and Legacy
Ac0vi0es for genera0ng funds:
Proceeds of sale of badges and 5es
Proceeds of sale of magazines
Interest received
Resources expended
Costs of genera5on funds:
Fundraising costs
2
Charitable ac5vi5es
Dona5ons to College
Pilgrimage Fund
Governance costs
3
Total resources expended
Net movement in funds
Transfer between funds
Fund balances brought forward at
1 April 2022
Fund balances carried forward at
31 March 2023		 Unrestricted
Funds
2022/23
Restricted
Funds
2022/23
Total
Funds
2022/23
Total
Funds
2021/22
£
£
£
£
14,483
-
14,483
14,381
50,828
7751
51,603
3,236
34
-
34
49
40
-
40
-
297
-
297
1
65,682
775
66,457
17,667
5,139
-
5,139
4,434
19,624
-
19,624
1,914
-
-
-
-
2,665
-
2,665
1,727
27,428
-
27,428
8,075
38,254
775
39,029
9,592
-
-
-
-
15,595
3,214
18,809
9,217
53,849
3,989
57,838
18,809

1 Dona&ons to Student Pilgrim Fund

Balance Sheet as at 31 March 2023

Current assets
Stock of badges and 5es
Tax refund due
Other debtors
Cash at bank
Creditors: amounts falling due within one year
Net current assets
Total assets less current liabiliMes
Funds
Unrestricted
Restricted		 2022/23
£
-
2,481
-
55,357
57,838
0
57,838
57,838
53,849
3,989
57,838		 2022/23
£
-
2,481
-
55,357
57,838
0
57,838
57,838
53,849
3,989
57,838		 2021/22
£
881
2,689
-
15,239
18,809
0
18,809
18,809
15,595
3,214
18,809		 2021/22
£
881
2,689
-
15,239
18,809
0
18,809
18,809
15,595
3,214
18,809
57,838
0		 18,809
0
57,838 18,809
53,849
3,989		 15,595
3,214
57,838 18,809

Signed on behalf of the Trustees on 5 February 2024 by:

Michael L’Estrange Trustee

Notes to the accounts for the year ended 31 March 2023

1 Accoun=ng policies

Basis of accoun=ng

The accounts have been prepared under the historical cost conven/on and in accordance with applicable Accoun/ng Standards and the Statement of Recommended Prac/ce on Accoun/ng by Chari/es issued by the Charity Commission in March 2005.

Income

With the excep/on of voluntary income arising from legacies, dona/ons and gims, all income is credited to the statement of financial ac/vi/es on a receivable basis. Legacies are credited to the statement of financial ac/vi/es once the charity has been no/fied of its en/tlement to the income and the value of the legacy is capable of financial measurement. Dona/ons are credited to the statement of financial ac/vi/es in the year in which they are received.

Expenditure

charitable purposes of the charity. Fundraising and publicity costs comprise expenditure incurred by the charity.

repor/ng en/ty, is exempt from the requirement to prepare such a statement under Financial Repor/ng Standard 1 "Cash flow statements".

Stock

the low volume of sales and /me in which the stock has been owned.

Taxa=on

The Trust is a registered charity and, therefore, is not liable for income tax or corpora/on tax on income derived from its charitable ac/vi/es, as it falls within the various exemp/ons available to registered chari/es.

2 Fundraising costs

Magazine
Newsle3ers
Cost of badges and <es for re-sale		 2022/23
£
3,531
727
881
5,139		 2021/22
£
3,917
517
4,434

3 Governance costs

Governance costs
Web / Events / Travel
Mee<ngs
Telephone and postage
Sta<onery, prin<ng and photocopying
Accountancy and bank charges
Insurance (liability)		 2022/23
£
1,192
43
803
246
260
121
2,665		 2021/22
£
708
29
582
250
123
36
1,727