Charlty reglstratlon number 1139044 {England and Wales) Company reglstratlon number 06583366 CARDINAL ALLEN TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024 CARDINAL ALLEN TRUST LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mr A Dickinson Fr S Henry Charity number {England and Wale$) 1139044 Company number 06583366 Prlncipal address St Catherlne's House Stanifield Lane Farington Leyland PR25 4QG Ile8lstered office St Catherlne's House Stanifield Lane Farin8ton Leyland England PR25 4QG Independent examlner Hulljady 418ridgeman Terrace Wigan Lancashlre United Klngdom WNII CARDINAL ALLEN TRusr CONTENTS Page Trustees, report Independent examiner'5 report Statement of financial activities Balance sheet Notes to the financlal statement5 6-10 CARDINAL ALLEN TRUST TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MAY2024 The trustees present their annual report and financial ststements for the year ended 31 May 2024. The financial statements have been prepared in accordance with the accounting policies set out in note I to the financlal statements and comply with the charity's governin8 document, the Companies Act 2006 and "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance wlth the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021" (effective l January 20191, Oblectlves and artlvltles The charity's objects are the advancement of rellgion and education in accordance with the terEts of the Catholic religlon and in partlcular to support the charitable work of St Peter's Internatlonal College for the public benefit and to promote for the benefit of the public the conservation, protectlon and improvement of the historic buildings and land at St Peter's International College. The policies adopted in furtherance of these objects are to ralse and distribute fund5 and there has been no change in these durin8 the year. Publlc benefit The trustees have paid due regard to 8uldance issued by the Charity Commlssion in decldlng what activlfjes the charity should undertake. Achlevements and performance Significant activlties and achievements agolnst objectives The charity has received donatlons whlch it has passed on to St Peter's Internatlonal College, France in order to enable it to carry out its work. During the year, the total donation5 Increased due to a On￿Off donation of £50,000. This was passed on to further the work of the colle8e. Flnanclal revlew The charity has few overheads and the trustees send money received In donations as It Is requlred by St Peter's College, when it can be used for the charitable objectlves. The charity made a surplus of £3.861 in the year and had retained reserves at 31 May of£3,912. Reserve5 policy It is the policy of the charity that unrestricted funds should not be retained within the charity, which has very few overheads, but should be paid out for its charitsble purpose where possible. This means that at any ￿ffle, the charity holds only modest funds in reserve. Major rlsks The trustees have assessed the malor rlsks to whlch the Charity Is exposed, and are satisfied that SYStem5 are in place to mitigate exposure to the major rlsks. Structure, governance and mana8ement The charity is a company limited by guarantee and is governed by its Memorandum and Articles of Association, amended most recently in September 2020. The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were: Mr A Dickinson Fr S Henry CARDINAL ALLEN TRUST TRUSTEES, REPORT (INCLUDING DIREcfoRS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MAY2024 Recruitment ond oppointment of trustees Trustees are sought who are sympathetic to the Charity's aims and have skills speclflc to assisti￿ them to make relevant charitable decisions about the expenditure of the Charity. None of the trustees ha5 any beneficial interest in the company. All of the trustees are members of the company and 8uarantee to contribvte £1 in the event of a winding up. Organi5ationol Structure The Charity has no staff and very few overheads. Decisions are made by the board of trustee5. The tru5tees' report Wa5 approved by the Board of Trustees, Fr S Henry Trustee 20 March 2025 CARDINAL ALLEN TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CARDINALALLEN TRUST I report to the trustees on my examination of the financial statements of Cardinal Allen Trust (the charity) for the year ended 31 May 2024. Responslbllltles and basls of report As the trustees of the charity land also its dirertors for the purposes of company lawl, you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Att 2006. Having satisfied myself that the financial statements of the charity are not required to be audit& under Part 16 of the Companies Act 2006 and are eligible for independent examlnatlon, 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 1451Sllbl of the Charities Act 2011. Independent examlner's statement I have completed my examinatlon. I conflrm that no matters have come to my attendon In connection with the examination giving me cause to believe that in any material respect,. accounting record5 were not kept in respect of the charlty as requlred by sectlon 386 of the Companie5 Act 2006. the financial statements do not accord with those records; or the financial statements do not comply with the accountln8 requirements of section 396 of the Companies Act 2006 other than any requirement that the financlal statements give a true and fair view, which Is not a nTrtter considered as part ofan independent examinaJon,' or the financial statements have not been prepared in accordante with the Methods and princlples of the Statement of Recommended Practice for accounting and reportlng by charities applicable to charlties preparing their flnanclal statements In accordance with the Financlal Reporting Standard appllcable in the UK and Republlc of Ireland IFRS 1021. I have no concern5 and have come across no other matters In connection wlth the examlnadon to which attentlon should be drawn In this report ID order to enable a proper understandin8 of the financial ststements to be reached. Clare Jady FCA Hulljadv 41 Bridgeman Terrace Wigan Lanca5hlre WNI ITT United Klngdom 20 March 2025 CARDINAL ALLEN TRUST STATEMENT OF FINANCIAL AcfiviTIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MAY2024 Unrestrlcted funds 2024 Unrestrlrted funds 2023 Notes Income from: Donations and le8acies 60,216 24,652 Total income 60.216 24,652 Expendlture on: Charitable activities 56,355 24,780 Total expendlture 56,355 24,780 Net Incomellexpendlture) and movement In fund$ 3,861 11281 Reconclliation of funds: Fund balance5 at l June 2023 51 179 Fund balances at 31 May 2024 3,912 51 The statement of financlal acttvltfes Includes èll 8alns and losses recogni5ed In the year. All income and expenditure derive from continuing activitles. CARDINAL ALLEN TRUST BALANCE SHEET ASAT31 MAY2024 2024 2023 Notes Current assets Cash at bank and in hand 4,512 51 Credltors: amounts fallln8 due wlthln one year io 16001 Net current assets 3,912 51 The fund5 of the charlty Unrestricted funds li 3,912 51 3,912 51 The company is entltled to the exemption from the audit requlrement contained in section 477 ofthe Companies Act 2006, for the year ended 31 May 2024. The directors acknowledge their responsibllides for complyln8 wlth the requirements of the Companies Act 2006 with respect to accounting records and the prepara￿on of financial statements. The members have not required the company to obtaln an audlt of Its flnanclal statements for the year In question In accordance with section 476. These financlal statements have been prepared In accordance with the provisions applicable to companles subjett to the small companies regime. The financial statements were approved by the trustees on 20 March 2025 Fr S Henry Trustee Company regi5tratTon number 06583366 IEn8land and Wales) CARDINAL ALLEN TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY2024 Accountln8 pollcles Charlty Informatlon Cardinal Allen Trust is a prlvate company Ilmited by guarantee incorporated in England and Wales. The registered office s St Catherine's House, Stanifield Lane, Farington, Leyland, PR25 4QG. England. 1.1 Accountlng convention The financial statements have been prepared in accordance with the charity's Boverning document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounting and Reportin8 by Charities.. Statement of Recommended Practice appllcable to charities preparing their accounts in accordance with the Financlal Reporting Standard applicable in the UK and Republic of I￿land IFRS 1021" The charSty is a Public Benefit Entity as defined by FRS 102. The charity has taken advantage of the provlsions in the SORP for charlties not to prepare a statement of cash flows. The flnancial statements are prepared In sterling, whlch Is the functtonal currency of the charity. Monetsry amounts in these financlal statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention, Imodified to include the revaluation of freehold properties and to include investment propert5es and certain financial instruments at fair valuel. The principal accoundng policies adopted are set out below. 1.2 Golng concern At the time of approvin8 the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to contlnue in operational exlstence for the foreseeable future, Thus the trustees continue to adopt the goin8 concern basis of accoundn8 In preparin8 the financial statements. 1.3 Charltable funds Unrestrlcted fund5 are avallable for use at the discretton of the trustees in furtherance of their charitable objectfves. Restrlcted funds are subject to speclftc condltions 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. Endowment funds are sublect to speclfic conditions by donors that the capital must be maintained by the charity. 1.4 Income Income is recognised when the charity is legally entltled to it after any performance conditions hwe been met, the amounts can be measured reliably, and it is probable that income will be received, Cash donations are recognised on recelpt. 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. Legacles are recognised on receipt or otherwise If the charity has been nO￿fied 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. 1.5 Expendlture Expenditure is recognised In accordance with the rules laid out in the Charides SORP IFRS1021 CARDINAL ALLEN TRUST NOTES TOTHE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY2024 Accountln8 pollcies (Contbnuedl 1.6 Cash and cash equlvalents Cash and cash equivalents include cash in hand. deposits held at call with bank5, Other short-term liquid investments with original maturities of three months or le55, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. Baslcftnonclal assets Basic financial assets, which include debtors and cash and bank balances, are initially measured * transaction price includln8 transaction costs and are subsequently carried at amortised cost using the effective interest method unle5S the arrangement constitutes a financin8 transaction, where the transaction is measured at the presert value of the future recelpts discounted at a market rate of Interest. Financlal assets classified as receivable wthin one year are not amortised. 8oslcfinanclal Ilobllldes Baslc financial Ilabilities, Including creditors and bank loans are initially recognlsed at transaction price unless the arrangement constitutes a financing transaction. where the debt instrument is measured at the presert value of the future payments discounted at a market rate of interest. Flnanclal Ilabilities classified as payable wlthin one year are not amorti5ed, Debt instruments are subsequently carried at amortlsed cost, uslng the effectlve Interest rate method. Trade creditors are obllgattons to pay for 8oods or services that have been acquired In the ordinary course of oper3tFons from suppliers. Amount5 payable are classSfied as current liabilities if payment is due withln one year or less. If not, they are presented as non-current liabilities, Trade credltors are recognised ins￿allY at transaction price and subsequently measured at amorttsed cost usln8 the effectlve Interest method. L)erecognlrfon offlnonelol Ilobllldes Financial liabillties are derecognlsed when the charitvs contractual obligations explre or are dlscharged or cancelled. 1.7 Employee beneflts The cost of any unused holiday en￿tlefflent is reco8nised in the period In which the employee'5 seNlces are reeeived. Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide terminafjon benefits. Critlcal accountlng esttmates and Judgements In the applicatTon of the charity'5 accountlng policles, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and asSOClated 355umpttons 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 assumpdons are reviewed on an ongoln8 basls. Revisions to accounting estimates are recognised in the period In which the estimate is revised where the revision affects only that perioj, or in the period of the revision and future periods where the revision affects both Current and future periods. CARDINAL ALLEN TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY2024 Income from donatlons and legacles Unrestrlcted funds 2024 Unrestrlcted funds 2023 Donations and gifts 60.216 24,652 Expenditure on charltsble acilvltle$ Charltable actlvltles 2024 Charltable artlvltles 2023 Dlrect costs Contributions to St Peter's College 55,636 24,309 Share of support and Bovernance costs lsee note 5) Support 719 471 56,355 24,780 Analy$5$ by fund Unrestricted funds 56,355 24,780 Support costs allocated to acttvltles 2024 2023 Accountancy Sundry support costs 600 119 360 iii 719 471 Analysed between.. Charitable activities 719 471 Net movement In funds 2024 2023 The net movement in funds is stated after chargin81(crediting): Fees payable for the independent examinatlon of the charity's financial statements 300 CARDINAL ALLEN TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY 2024 Trustees None of the trustees (or any persons connected wlth them) received any remuneration or benefits from the charity during the year. Employees There were no employees durin8 the financial years to 31 May 2024 or 2023 and the trustee5, who a￿ also directors, received no remuneration for their work nor did they receive reimbursement of expenses. 2024 Number 2023 Number Total There were no employees whose annual remuneration was more than £60,000. Taxatlon The charity is exempt from taxatlon on its actlvltles because all its income Is applied for charltable purposes. 10 Credltors: amounts fallln8 due wlthln one year 2024 2023 Accruals and deferred income 600 li Unrestrlrted funds The unrestricted funds of the charity comprlse the unexpended balances of donalons and grants which are not subject to specific condittons by donor5 and grantor5 as to how they may be used. These include designated funds which have been set aslde out of unrestricted funds by the trustees for specific purposes. At l June 2023 Incomlng resources Resources At 31 May 2024 expended General funds 51 60,216 156,3551 3.912 Previous year: At l June 2022 Incoming resources Resources At 31 May 2023 expended General funds 179 24,652 124,7801 51 CARDINAL ALLEN TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MAY2024 12 Related party transactlons There were no dlsclosable related party transathons during the year12023 - none}. 10-