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2024-04-30-accounts

LAY COMMUNITY OF ST BENEDICT Company limited by guarantee

TRUSTEES' REPORT AND UNAUDITED ACCOUNTS

for the year ended 30 April 2024

Charity registration 1100638

Company registration 04838564

Page 1 of 17

LAY COMMUNITY OF ST BENEDICT

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees who held office during Aidan Hughes (elected Dec 2021)
the period ended April 2024 Anne Heslop (elected Nov 2022)
Catherine Fitzsimons (resigned Nov 2023)
Hugh Comerford (elected Nov 2022)
Laurence Pearce (elected Nov 2018)
Stephen Serpell (elected Nov 2014, retired 2017, and elected
chair Nov 2018)
Adam Simon (co-opted Nov 2020 and annually thereafter)
Fr Chris Dobson (elected Dec 2021)
David O’Leary (elected Nov 2023)
Secretary & Treasurer Laurence Pearce, appointed Nov 2018
Administrator Peter Agius
Charity number 1100638
Company number 4838564
Principal address PO Box 7686
Kettering
NN16 6LP
Registered office 2 Egdean Walk
Sevenoaks
Kent TN13 3UQ
Independent examiner Adrian Radford
7 Curbey Close West Chiltington RH20 2HU
Bankers CAF Bank
PO Box 289
West Malling Kent ME19 4TA

Page 2 of 17

LAY COMMUNITY OF ST BENEDICT

Table of Contents

LEGAL AND ADMINISTRATIVE INFORMATION ............................................................................................2 TRUSTEES' REPORT ........................................................................................................4-6 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES .…………...............................................…… 7 STATEMENT OF FINANCIAL ACTIVITIES ……………………………………………………………… ……... 8 BALANCE SHEET............................................................................................................................................. 9 NOTES TO THE ACCOUNTS… …………………………………………………………………………………10-15

Company Number 4838564, Charity Number 1100638

Page 3 of 17

LAY COMMUNITY OF ST BENEDICT

TRUSTEES' REPORT

FOR THE YEAR ENDED 30 APRIL 2024

The trustees who are also directors of the charity for the purposes of the Companies Act 2006 present their report and accounts for the year ended 30 April 2024.

The accounts have been prepared in accordance with the accounting policies set out in Note 1 to the accounts and comply with the charity’s Memorandum and Articles of Association, applicable law and the requirements of 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)(effective 1 January 2015),the Charities SORP(FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland(FRS102), the Companies Act 2006 and the Charities Act 2011.

LCSB’s objects

LCSB is a company limited by guarantee and was incorporated on 19 July 2003. It then applied for and was granted charitable status. Its charity registration number is 1100638. The principal activity of LCSB is the promotion of Benedictine spirituality and its values of prayer, service, and hospitality in stable community.

Governance

The community is led, in partnership with a Council, by a member, called the Leader of the community. This role is to collaborate with the council and the community in discerning the strategic direction of the LCSB, to work for the spiritual wellbeing of all members and the community, to inspire members of the community to deeper spiritual commitment and to represent the community to both its members and the outside world. The current leader, Adam Simon, has declined an honorarium, and has been co-opted as a Trustee.

The Trustees

The Trustees are the trustees of the LCSB as a charitable body, reporting as appropriate to the Charities Commission, and also the directors of LCSB Limited, reporting to the Registrar of Companies. They are primarily concerned with legal and regulatory compliance and the submission of the statutory annual report and accounts. Together with the Leader and Council Trustees deal with employment and contractual issues, data protection, ensuring adequate safeguarding, and taking major financial decisions.

Trustees generally serve for three years but may be re-elected for a further three years. The Council puts forward nominees for consideration for vacancies but election is by the Trustees.

At the Trustees AGM in November 2023 Catherine Fitzsimons resigned as a trustee and Mr David O’Leary was elected to replace her.

During the period under review the progress of the Development Plan continued to be monitored. In addition there was a rolling review of policies, the addition of new policies where required, and an annual update to the Risk Register of possible threats to the organisation.

Training in the duties and responsibilities of Trustees and company directors is an on-going process.

The Trustees are satisfied that the financial reserves held by the organisation are at an appropriate level to maintain continuity even in the event of a major interruption to income streams, and are in line with our reserves policy. They do not seek to increase them further.

No Trustee is paid for their services as a trustee.

As in previous years the Safeguarding Officer, Mrs Emily Willetts, has reviewed the Safeguarding policy and training requirements. As a result, all office-holders and leaders have received formal safeguarding training.

Achievements and performance

Finance

The LCSB is funded essentially by donations from members.

Company Number 4838564, Charity Number 1100638

Page 4 of 17

LAY COMMUNITY OF ST BENEDICT

Review of financial position: for the year covered by these accounts the LCSB has run a deficit of £7,153 (as against a surplus of £466 in the preceding period), as shown in the Statement of Financial Activities on page 8 of these accounts.

Expenditure on Youth Development increased to £19,065 (as against £15,907 in 2023).

During the period under review LCSB continued to employ an Administrator on a part-time basis for 15 hours a week and a Finance & Bookings Secretary for 7 ½ hours a week. The Administrator and Finance and Bookings Secretary have permanent signed contracts, and report to line managers.

In addition, there is a role of Discipleship and Digital Coordinator, reporting to Adam Simon. This role was undertaken by Mrs Mary Hirst who was employed on a twelve month contract until the summer of 2023, when she was replaced by Jerome Beards.

New Members

New members result from enquiries from friends of members, from the website and from the reaching of age 16 of family members. There is a period of formation supported by a companion that may proceed after about a year to full membership, marked by making a promise at a ceremony.

Largely as a result of the Development Plan, the number of members during the year under review has increased from 207 to 214.

Enquiries received by the Administrator have also increased, mainly from the website and the personal contact of members.

Council and Organisational Framework: there is a cycle of four Council Meetings, linked with twice a year Trustee meetings and Team Leaders’ meetings, devised to maximise the use of peoples’ time and minimise travel expenses. All meetings in the period under review were conducted either by Zoom or were hybrid meetings, partly by Zoom and partly in person.

Members are encouraged to be in at least one of fourteen teams: Chaplaincy, Enquirers, Formation and Spiritual Development, Guest Master, Events and Access, Summer Gathering, Easter, Communications and Web, Liturgy and Music, Community Outreach, Listen, Projects, Fund-raising and Youth.

Currently, 92 members are actively involved in the work of teams, or on council or as trustees.

The Leader is elected by members of the Community every three years and the current leader’s three-year term was renewed at the Tractatus at the 2023 Summer Gathering and AGM for a second period of three years and will run until summer 2026.

Our mission is to:

A brief overview of the year’s activities:

Company Number 4838564, Charity Number 1100638

Page 5 of 17

LAY COMMUNITY OF ST BENEDICT

Basis of preparation of this report

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The Trustees’ Report was approved by the Board of Trustees on 23[rd] November 2024

Trustee and Director (Signed)

Stephen Charles Serpell (Print Name) Trustee and Director (Signed) John Laurence Pearce (Print Name)

Company Number 4838564, Charity Number 1100638

Page 6 of 17

LAY COMMUNITY OF ST BENEDICT

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES

I report on the accounts of the Lay Community of St Benedict (LCSB) for the year ended 30 April 2024, which are set out on pages 8 to 14.

Responsibilities and basis of report

As the Trustees of the LCSB (and also its directors for the purposes of Company Law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the accounts of the LCSB are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145 (5) (b) of the 2011 Act.

Independent examiner’s statement

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:

  1. Accounting records were not kept in respect of the LCSB as required by section 386 of the 2006 Act; or

  2. The accounts do not accord with those records; or

  3. The accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

  4. The accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the U.K and republic of Ireland (FRS 102).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Signed:

Dated: 23[rd] November 2024

A Radford, Chartered Accountant

7 Curbey Close West Chiltington RH20 2HU

Company Number 4838564, Charity Number 1100638

Page 7 of 17

LAY COMMUNITY OF ST BENEDICT STATEMENT OF FINANCIAL ACTIVITIES Company Num￿[ 4838564, Charity Number 1100638 Page 8 of 17

LAY COMMUNITY OF ST BENEDICT LAY COMMUNITY OF ST BENEDICT LAY COMMUNITY OF ST BENEDICT Total
2024
Total 2023
£
£
20,551
18,710
10,854
12,830
1,994
2,189
180
180
185
159
5,731
5,616
436
516
45
45
40,151
33,805
2,559
749
82,686
74,799
89,839
74,333
89,839
466
(7,153)
0
(7,153)
466
0
466
97,845
97,379
90,692
97,845
Page 9 of 17
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 30 APRIL 2024
Notes
INCOME FROM:
Donations(all)General Fund
2
Donations(all) Development Appeal
2
Donations (Youth Development fund)
2
Donations (Good Works fund)
2
Fundraising Activities
Gift Aid refund (General/Development)
Gift Aid refund (Youth Dev fund)
Gift Aid refund (Good Works fund)
Gross income from all events
4
Investment income
3		 General
funds
£
20,551
10,854
185
5,731
40,151
2,559		 Restricted
funds
£
1,994
180
436
45
Total 80,031 2,655
EXPENDITURE ON:
Charitable activities
Direct Charitable activities
5		 70,774 19,065
TOTAL: 70,774 19,065
NET INCOME
Transfer between funds
NET MOVEMENT IN FUNDS FOR THE YEAR
RECONCILIATION OF FUNDS:
Opening fund balances		 9,257
(16,635)
(7,378)
94,517		 (16,410)
(16,635)
225
3,328
CLOSING BALANCES 87,139 3,553
Company Number 4838564, Charity Number 1100638

LAY COMMUNITY OF ST BENEDICT Company Num￿[ 4838564, Charity Number 1100638 Page10of17

LAY COMMUNITY OF ST BENEDICT

BALANCE SHEET

BALANCE SHEET
AS AT 30 APRIL 2024
Notes
Current assets
Debtors
11
Cash at bank and in hand
Creditors: amounts due within one year
12
Net current assets
Total assets less current liabilities
Funds
13
Unrestricted funds
General fund
Restricted funds
Youth Development fund
Good Works fund		 30.04.24
£
7,464
92,439
99,903
(9,211)
90,692
90,692
30.04.24
£
87,139
3,553
90,692		 30.04.23
£
7,520
111,801
119,321
(21,476)
97,845
97,845
30.04.23
£
94,517
3,328
97,845

For the 12 month period ended 30 April 2023 the Lay Community of St Benedict (LCSB) was entitled to exemption under 477 of the Companies Act 2006. No members have required LCSB to obtain an audit of its accounts for the period in question in accordance with section 476. The Trustees acknowledge their responsibility for:

(i) ensuring LCSB keeps accounting records which comply with sections 386 and 387; and

The accounts were approved by the Board of Trustees on 23[rd] November 2024.

Trustee and Director (Signed)

Stephen Charles Serpell

Company Number 4838564, Charity Number 1100638

Page 11 of 17

LAY COMMUNITY OF ST BENEDICT

Trustee and Director (Signed)

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 30 APRIL 2024 (comparatives are for the 12 months ended 30 April 2023)

1 Accounting policies

1.1 Basis of preparation

The accounts have been prepared in accordance with the charity’s Memorandum and Articles of Association, the Companies Act 2006 and “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 (FRS 102) (effective 1[st] January 2019)”. The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

1.2 Income

Donations and similar incoming resources are included in the period in which they are received.

1.3 Expenditure

Expenditure is included when incurred.

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities.

Support costs include office running costs, as well as staff costs. They also include the governance costs associated with meeting the constitutional and statutory requirements of the charity.

1.4 Tangible fixed assets

Only assets costing more than £250 are capitalised.

1.5 Taxation

The charity is exempt from Corporation Tax on its charitable activities.

1.6 Fund accounting

Unrestricted Funds can be used for any charitable objectives at the discretion of the Trustees.

Restricted Funds can only be used for particular restricted purposes within the objects of the charity.

Restrictions arise when specified by the donor or when funds are raised for particular purposes.

Company Number 4838564, Charity Number 1100638

Page 12 of 17

LAY COMMUNITY OF ST BENEDICT

2 Donations summary
2024 2023
£ £
General Fund 20,551 18,710
Development Fund 10,854 12,830
Youth Development Fund 1,994 2,189
Good Works Project Fund 180 180
Total 33,579 33,909

2a Youth Development Fund

Fund set up in 2005/6 to support work for young people.

2b Good Works fund

Fund set up in 2005/6 to support specific ‘Good Works’ in accordance with the objects of LCSB (with special focus on support for the sick, and for works of education and training).

3 Investment income

Investment income consists of Bank interest amounting to £2,559 (as against £749 in 2023).

The increase is attributable to the Interest Received being for a full year on the sum of £50,000 invested in March 2022, as opposed to three months in 2022/23. This sum of £50,000 has been rolled over until March 2025 and is earning 4.30%.

During the year under review the Easter celebrations were again conducted physically at Cefn Lea. Income from the event was £17,430 (as against £17,630 for Easter 2023).

Company Number 4838564, Charity Number 1100638

Page 13 of 17

LAY COMMUNITY OF ST BENEDICT
During the year under review the income from all other events was £22,721 (as against £16,175 in
the period ended 30 April 2023).
5
Charitable Activities Costs and Support costs
Note
Direct costs
Support costs
Totals
£
£
£
Payments for services from employees
8
2,760
15,702
18,462
Office costs
3,382
3,382
Publication and website costs
1,261
1,261
Gross costs of all events
9
43,656
43,656
Youth work
10
19,065
19,065
Donations
0
Governance Costs- including meeting
expenses
4,013
4,013
65,481
24,358
89,839
6
Net income
Net income is stated after charging
2024
2023
£
£
Independent examiners fees
57
57
7
Trustees Remuneration and benefits
None of the Trustees / Directors of LCSB (and no person connected with any of them) received any
remuneration from LCSB during the year.
Travel and meeting expenses are included in Governance Costs, some of which have been
reimbursed by LCSB to Trustees and Council members.
8
Payments for services and honoraria and youth development project work
Payments for services represent salary payments under permanent contracts for the part-time
services of an Administrator and a Bookings/Finance administrator, plus one sixth of the personnel
costs of a Discipleship and Digital Coordinator.
Company Number 4838564, Charity Number 1100638
Page 14 of 17		 LAY COMMUNITY OF ST BENEDICT
During the year under review the income from all other events was £22,721 (as against £16,175 in
the period ended 30 April 2023).
5
Charitable Activities Costs and Support costs
Note
Direct costs
Support costs
Totals
£
£
£
Payments for services from employees
8
2,760
15,702
18,462
Office costs
3,382
3,382
Publication and website costs
1,261
1,261
Gross costs of all events
9
43,656
43,656
Youth work
10
19,065
19,065
Donations
0
Governance Costs- including meeting
expenses
4,013
4,013
65,481
24,358
89,839
6
Net income
Net income is stated after charging
2024
2023
£
£
Independent examiners fees
57
57
7
Trustees Remuneration and benefits
None of the Trustees / Directors of LCSB (and no person connected with any of them) received any
remuneration from LCSB during the year.
Travel and meeting expenses are included in Governance Costs, some of which have been
reimbursed by LCSB to Trustees and Council members.
8
Payments for services and honoraria and youth development project work
Payments for services represent salary payments under permanent contracts for the part-time
services of an Administrator and a Bookings/Finance administrator, plus one sixth of the personnel
costs of a Discipleship and Digital Coordinator.
Company Number 4838564, Charity Number 1100638
Page 14 of 17		 LAY COMMUNITY OF ST BENEDICT
During the year under review the income from all other events was £22,721 (as against £16,175 in
the period ended 30 April 2023).
5
Charitable Activities Costs and Support costs
Note
Direct costs
Support costs
Totals
£
£
£
Payments for services from employees
8
2,760
15,702
18,462
Office costs
3,382
3,382
Publication and website costs
1,261
1,261
Gross costs of all events
9
43,656
43,656
Youth work
10
19,065
19,065
Donations
0
Governance Costs- including meeting
expenses
4,013
4,013
65,481
24,358
89,839
6
Net income
Net income is stated after charging
2024
2023
£
£
Independent examiners fees
57
57
7
Trustees Remuneration and benefits
None of the Trustees / Directors of LCSB (and no person connected with any of them) received any
remuneration from LCSB during the year.
Travel and meeting expenses are included in Governance Costs, some of which have been
reimbursed by LCSB to Trustees and Council members.
8
Payments for services and honoraria and youth development project work
Payments for services represent salary payments under permanent contracts for the part-time
services of an Administrator and a Bookings/Finance administrator, plus one sixth of the personnel
costs of a Discipleship and Digital Coordinator.
Company Number 4838564, Charity Number 1100638
Page 14 of 17
65,481
24,358
89,839
2024
2023
£
£
57
57

LAY COMMUNITY OF ST BENEDICT

No honorarium payments to the Leader were made during the period.

9 Easter and formation weekends and related expenses

During the year under review the planned celebration of Easter 2024 again took place ‘physically’ at Cefn Lea. Total costs were £21,233 (£20,636 in 2023) before income and subsidies.

The deficit for the event was £3,833 (£3,006 in 2023).

During the year under review the costs of other events and related expenses paid from the General Fund were £22,423 (and in the period ended 30 April 2023 were £17,470).

10 Youth work from LCSB funds

A total of £19,065 was spent during the year (£15,907 in 2023).

The main heading of expenditure was as follows:

Discipleship and Digital Coordinator - five sixths of salary £13,801 £14,622 in 2022/23

11 Debtors

The Debtors as at the Balance Sheet date are made up as follows:

Gift Aid Tax Relief
General Funds
Youth Development Fund
Good Works Fund
Other
Total		 2024
2023
£
£
5,731
5,616
436
516
45
45
6,212
6,177
1,252
1,343
7,464
7,520		 2024
2023
£
£
5,731
5,616
436
516
45
45
6,212
6,177
1,252
1,343
7,464
7,520
7,520

Company Number 4838564, Charity Number 1100638

Page 15 of 17

LAY COMMUNITY OF ST BENEDICT
12Creditors
The creditors as at the Balance Sheet date are made up as follows:
2024
2023
£
£
Easter 2023 costs
808
19,754
Other
8,403
1,722
Total
9,211
21,476
13.Movements of Funds
Opening
Balance
01.05.23
Income
Expenditure
Transfers
Closing
Balance
30.04.24
£
£
£
£
£
General Fund
94,517
80,031
(70,774)
(16,635)
87,139
Restricted Funds
Youth Development Fund - LCSB
0
2,430
(19,065)
16,635
0
Good Works Fund
3,328
225
0
0
3,553
3,328
2,655
(19,065)
16,635
3,553
Total Funds
97,845
82,686
(89,839)
0
90,692
Youth Development Fund- Other
Fund set up in 2005/6 to support work for young people.
Good Works fund
Company Number 4838564, Charity Number 1100638
Page 16 of 17		 LAY COMMUNITY OF ST BENEDICT
12Creditors
The creditors as at the Balance Sheet date are made up as follows:
2024
2023
£
£
Easter 2023 costs
808
19,754
Other
8,403
1,722
Total
9,211
21,476
13.Movements of Funds
Opening
Balance
01.05.23
Income
Expenditure
Transfers
Closing
Balance
30.04.24
£
£
£
£
£
General Fund
94,517
80,031
(70,774)
(16,635)
87,139
Restricted Funds
Youth Development Fund - LCSB
0
2,430
(19,065)
16,635
0
Good Works Fund
3,328
225
0
0
3,553
3,328
2,655
(19,065)
16,635
3,553
Total Funds
97,845
82,686
(89,839)
0
90,692
Youth Development Fund- Other
Fund set up in 2005/6 to support work for young people.
Good Works fund
Company Number 4838564, Charity Number 1100638
Page 16 of 17
0
2,430
(19,065)
16,635
0
3,328
225
0
0
3,553
3,328
2,655
(19,065)
16,635
3,553
97,845
82,686
(89,839)
0
90,692

LAY COMMUNITY OF ST BENEDICT

Fund set up in 2005/6 to support specific ‘Good Works’ in accordance with the objects of LCSB (with special focus on support for the sick, and for works of education and training).

14 . Analysis of Net Assets between Funds

General Fund
Restricted Funds
Youth Development Fund - LCSB
Good Works Fund
Total		 Debtors
Cash at Bank
Creditors
Total
£
£
£
£
7,419
88,931
(9,211)
87,139
7,419
88,931
(9,211)
87,139
0
0
0
0
45
3,508
0
3,553
45
3,508
0
3,553
7,464
92,439
(9,211)
90,692

Company Number 4838564, Charity Number 1100638

Page 17 of 17