The Oratory of St Philip Neri at Manchester
REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
BK Plus Limited Chartered Certified Accountants Sterling House 501 Middleton Road Chadderton Oldham OL9 9LY
The Oratory of St Philip Neri at Manchester
REPORT OF THE TRUSTEES : YEAR ENDED 31 DECEMBER 2023
Administrative Information
The Oratory of St Philip Neri at Manchester (The Oratory) was established by a trust deed dated 22nd October 2012. The Oratory is currently run from the parish of St Chad, Cheetham Hill Road, Manchester M8 8GG. The Trust is registered with the Charity Commission under reference 1149954.
The Trustees who have served during the period are:
Fr R Matus (retired 24 September 2024) Fr R Bailey Br G Connett (appointed 23 September 2024)
Structure, governance, management, objectives and activities
The main object of the charity is to promote and advance the Roman Catholic faith and Roman Catholic institutions and in particular to promote the charitable work for the time being carried on, promoted or supported by the congregation called The Oratory of St Philip Neri established at Manchester.
At present The Oratory is focussed upon the restoration of the historic church of St Chad which was opened on 4th August 1847. The Trustees have been entrusted with the care of the parish by the Diocese of Salford and are responsible for the fabric of the church buildings which are badly in need of repair.
The Trustees are mindful of the Charity Commission guidance on public benefit. They believe that the restoration of St Chad's will be of great benefit to the parish community and the wider community in Manchester. The Oratory aims to assist the homeless and those in real economic need and not just those of the Catholic faith by providing food, encouragement and shelter where possible.
Achievements and performance
Review of the year
2023 was a challenging year financially in having to cover the cost of the purchase of two new boilers for the church. This along with higher fuel costs too has forced us to budget accordingly. The generosity of the faithful in this time of need was very much welcome for which we are thankful.
The numbers attending mass and other services are very encouraging, we have noted a marked increase in a younger audience in church and many initiatives are planned to harness this newfound enthusiasm for the work we do here.
Our pilgrimage programmes have continued and the musical traditions important to our work here maintain a high standard in promoting the work of the Oratory of Saint Philip in Manchester.
The Oratory of St Philip Neri at Manchester
REPORT OF THE TRUSTEES : PERIOD ENDED 31 DECEMBER 2023 continued
Financial review
The total receipts on ordinary unrestricted funds were £136,283 (2022:£148,406). Restricted fund receipts amounted to £49,200 (2022:£15,140).
All of the charity's efforts during the period under review have been directed towards restoring, improving and maintaining the fabric of St Chad's church buildings and supporting the work of the parish. Every effort has been made to try to ensure that services have continued as they have in the past. Donations have also been made whenever possible to assist Roman Catholic charities at home and abroad and to relieve suffering wherever it occurs.
The net result for the year was an excess of income over expenditure of £13,855 (2022:£7,125). Reserve levels have improved slightly and the trustees are hopeful that the position will improve further as the expenditure on the fabric of the building is now largely complete. However unexpected costs can arise such as the boilers during 2023 hence the need to build reserves.
The balance carried forward at 31 December 2023 was £26,909 (2022:£13,055) on unrestricted funds.
Reserves policy
The Trustees currently aim to hold approximately £125,000 in reserves to enable them to deal with any unexpected demands on funds that might arise from time to time. The effect of the pandemic and the fact that the charity was commited to further building work during 2022, 2021 and earlier periods has led to there now being a relatively low level of reserves. However there shouldn't be a significant amount of capital expenditure in the near future and the trustees are confident that their supporters will continue to assist in furthering the aims of the charity in the longer term.
Approved by the board of trustees on 7th October 2024 and signed on their behalf by
Fr R Bailey (Chairman)
Chair of Trustees Oratory of St Philip Neri at Manchester Cheetham Hill Road Manchester M8 8GG
The Oratory of St Philip Neri at Manchester
INDEPENDENT EXAMINER'S REPORT to the trustees of The Oratory of St Philip Neri at Manchester
I report on my examination of the financial statements of The Oratory of St Philip Neri at Manchester for the year ended 31 December 2023 which comprise the statement of financial activities, balance sheet and related notes, which are set out on pages 4 to 10.
Respective responsibilities of the Trustees and Examiner
As the charity's trustees you are responsible for the preparation of the financial statements in accordance with the Charities Act 2011 ('the Act'); you consider that an audit is not required for this period under s.144(2) of the Act and that an independent examination is needed. It is my responsibility to:
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examine the accounts under section 145 of the Act;
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follow the procedures laid down in the General Directions given by the Charity Commission under section 145(5)(b) of the Act; and
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state whether particular matters have come to my attention.
Basis of independent examiner's report
My examination was carried out in accordance with the General Directions given by the Charity Commission. This examination includes a review of the accounting records kept by the charity and a comparison of the financial statements with those records. It also includes consideration of any unusual items or disclosures in the financial statements 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 financial statements present a 'true and fair view' and the report is limited to thise matters set out in the statement below.
Independent examiner's statement
In connection with my examination, no material matters have come to my attention which give me cause to believe that in any material respect:
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accounting records were not kept in accordance with section 130 of the Act; or
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the accounts do not accord with the accounting records; or
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the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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.
Dominic Huxley BSc ACA BK Plus Limited Chartered Certified Accountants
Sterling House 501 Middleton Road Chadderton Oldham OL9 9LY
8th October 2024
The Oratory of St Philip Neri at Manchester
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023
| Unrestricted | Restricted | Total | Funds | ||
|---|---|---|---|---|---|
| Funds | Funds | 2023 | 2022 | ||
| Note | £ | £ | £ | £ | |
| INCOME | |||||
| Donations, grants and legacies | 2a | 110,925 | 49,200 | 160,125 | 138,546 |
| Charitable activities | 2b | 25,000 | - | 25,000 | 25,000 |
| Income from investments | 2c | 358 | - | 358 | - |
| Other incoming resources | 2d | - | - | - | - |
| Total incoming resources | 136,283 | 49,200 | 185,483 | 163,546 | |
| EXPENDITURE | |||||
| Activities relating to the work of the church | 3a | 87,428 | 49,200 | 136,628 | 94,760 |
| Donations | 3b | 23,892 | - | 23,892 | 55,699 |
| Administration | 3c | 11,109 | - | 11,109 | 5,962 |
| Renovation of church buildings | 3d | - | - | - | - |
| Transfers between funds | - | - | - | - | |
| Total resources expended | 122,429 | 49,200 | 171,629 | 156,421 | |
| NET INCOMING/(OUTGOING) | |||||
| RESOURCES | 13,854 | - | 13,854 | 7,125 | |
| GAINS/ (LOSSES) ON INVESTMENTS: | 6b | - | - | - | - |
| NET MOVEMENT IN FUNDS | 13,854 | - | 13,854 | 7,125 | |
| BALANCES BROUGHT FORWARD | 13,055 | - | 13,055 | 5,930 | |
| BALANCES CARRIED FORWARD | 26,909 | - | 26,909 | 13,055 |
All income and expenditure is derived from continuing activities.
The accompanying notes are an integral part of this statement of financial activities.
The Oratory of St Philip Neri at Manchester
BALANCE SHEET AT 31 DECEMBER 2023
| Note FIXED ASSETS Tangible Fixed Assets 6a Investment Assets 6b Total fixed assets CURRENT ASSETS Sundry Debtors 7 Short Term Deposits Cash at Bank and in Hand Total current assets LIABILITIES Creditors falling due within one year 8 NET CURRENT ASSETS NET ASSETS 9 FUNDS Unrestricted Restricted Total charity funds £ |
2023 £ - - - - - 27,779 27,779 (870) 26,909 26,909 £ 26,909 - 26,909 £ |
2022 £ - - |
|---|---|---|
| - | ||
| - - 13,925 |
||
| 13,925 (870) |
||
| 13,055 | ||
| 13,055 | ||
| 13,055 - |
||
| 13,055 |
Approved by the Trustees on 7th October 2024 and signed on their behalf by:
Chairman
Fr R Bailey
The Oratory of St Philip Neri at Manchester
NOTES TO THE FINANCIAL STATEMENTS TO 31 DECEMBER 2023
1. ACCOUNTING POLICIES
The principal accounting policies adopted in the preparation of the financial statements are summarised below.
Basis of preparation
The financial statements have been prepared in accordance with the historical cost convention and in accordance with the Statement of Recommended Practice - Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and with the Charities Act 2011. They do not include the accounts of other church groups that owe their main affiliation to another body.
The charity constitutes a public benefit entity as defined by FRS 102.
Going concern
There are no material uncertainties about the ability of the charity to continue as a going concern.
Fund accounting
Restricted funds are funds which may only be expended on the specific object for which they were given.
Unrestricted funds are general funds which can be used at the discretion of the Trustees in furtherance of the general objectives of the charity and that have not been designated for any specific purpose.
Incoming Resources
All incoming resources are included in the Statement of Financial Activities (SOFA) when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:
Voluntary income is received by way of gifts, donations and grants and is included in full in the SOFA when receivable. Grants, where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant.
Legacies are recognised in the SOFA as they are received or when receipt is probable, that is, when there has been grant of probate, the executors have established that there are sufficient assets in the estate and any conditions attached to the legacy are either within the control of the charity or have been met.
Income tax recoverable on covenants or gift aid donations is recognised when received.
Other ordinary income is recognised when received
Income from investments is recognised when receivable.
The Oratory of St Philip Neri at Manchester
NOTES TO THE FINANCIAL STATEMENTS TO 31 DECEMBER 2023
1. ACCOUNTING POLICIES (cont'd)
Incoming Resources (cont'd)
The charity does not currently hold any investments but any realised gains or losses on investments would be recognised when investments are sold.
Unrealised gains or losses would be accounted for on revaluation of investments at 31 December.
Resources expended
Expenditure is accounted for on an accruals basis and is reported as part of the expenditure to which it relates as follows:
Activities relating to the work of the church comprises costs arising from the maintenance of the church building and church services and costs incurred by the clergy in carrying out their duties.
Donations are accounted for when paid over and include donations to the host parish and independent charities dealing with deprivation and homelessness.
Other expenditure includes general administration and the renovation of the church buildings. This expenditure is accounted for on an accruals basis and is partly paid from restricted funds.
Fixed assets
Consecrated land and buildings and movable church furnishings
Consecrated and benefice property is excluded from the accounts.
Other fixtures, fittings and office equipment
The charity is able to utilise the assets owned by the parish of St Chad and does not itself own any fixed assets.
Financial instruments
The charity accounts for basic financial instruments, debtors and prepayments and creditors and accruals, at the undiscounted amount of the cash or other consideration expected to be received or paid.
The Oratory of St Philip Neri at Manchester
NOTES TO THE FINANCIAL STATEMENTS TO 31 DECEMBER 2023 continued ..
| 2. | INCOME Unrestricted Restricted Funds Funds 2023 2022 £ £ £ £ a) Voluntary Income Donations incl Gift Aid 102,524 - 102,524 105,736 Grants - Lottery Fund and Hist. Eng - - - 15,140 Grants - Diocese - - - - Grants - DCMS scheme - - - - Society of Jesus re training - 29,200 29,200 - Specific donation re church heating - 20,000 20,000 - Legacies - - - - Miscellaneous 8,401 - 8,401 17,670 110,925 49,200 160,125 138,546 b) Income from charitable activities Fund raising - - - - Hospital chaplaincy services 25,000 - 25,000 25,000 25,000 - 25,000 25,000 c) Income from Investments Dividends and interest 358 - 358 - d) Other incoming resources Miscellaneous income - - - - Insurance claims - - - - - - - - TOTAL INCOMING RESOURCES 136,283 49,200 185,483 163,546 Total Funds |
INCOME Unrestricted Restricted Funds Funds 2023 2022 £ £ £ £ a) Voluntary Income Donations incl Gift Aid 102,524 - 102,524 105,736 Grants - Lottery Fund and Hist. Eng - - - 15,140 Grants - Diocese - - - - Grants - DCMS scheme - - - - Society of Jesus re training - 29,200 29,200 - Specific donation re church heating - 20,000 20,000 - Legacies - - - - Miscellaneous 8,401 - 8,401 17,670 110,925 49,200 160,125 138,546 b) Income from charitable activities Fund raising - - - - Hospital chaplaincy services 25,000 - 25,000 25,000 25,000 - 25,000 25,000 c) Income from Investments Dividends and interest 358 - 358 - d) Other incoming resources Miscellaneous income - - - - Insurance claims - - - - - - - - TOTAL INCOMING RESOURCES 136,283 49,200 185,483 163,546 Total Funds |
|---|---|---|
| 110,925 49,200 160,125 138,546 |
||
| - - - - 25,000 - 25,000 25,000 |
||
| 25,000 - 25,000 25,000 |
||
| 358 - 358 - |
||
| - - - - - - - - |
||
| - - - - |
||
| 136,283 49,200 185,483 163,546 |
The Oratory of St Philip Neri at Manchester
NOTES TO THE FINANCIAL STATEMENTS TO 31 DECEMBER 2023 continued ..
| 3. 4 5 |
RESOURCES EXPENDED Unrestricted Restricted Funds Funds 2023 2022 £ £ £ £ a) Activities relating to the work of the church Church running costs 26,466 - 26,466 31,997 Motor and travel 4,630 - 4,630 7,253 Training and study costs 15,815 29,200 45,015 17,591 General repairs and maintenance 37,894 20,000 57,894 8,743 Streaming costs for services - - - 1,001 Books and piety stall re-stocking 1,706 - 1,706 4,067 Oratory subscriptions 917 - 917 - Thanksgiving celebration - - - 7,130 87,428 49,200 136,628 77,782 b) Donations Charitable giving- St Chad's 23,627 - 23,627 66,239 Charitable giving- other 265 - 265 3,414 23,892 - 23,892 69,653 c) Administration Heat, light, water and insurance 7,573 - 7,573 3,024 Telephone, stationery and office 2,666 - 2,666 5,092 Accountancy and related fees 870 - 870 870 Sundries incl PPE - - - - 11,109 - 11,109 8,986 d) Renovation of church buildings Professional and related fees - - - - Building works - - - - - - - - Total Resources Used £ 122,429 49,200 171,629 156,421 INDEPENDENT EXAMINER STAFF COSTS Wages and salaries - - Total Funds The independent examiner was paid £870 (2022:£870) in respect of the examination of the accounts. |
Unrestricted Restricted Funds Funds 2023 2022 £ £ £ £ 26,466 - 26,466 31,997 4,630 - 4,630 7,253 15,815 29,200 45,015 17,591 37,894 20,000 57,894 8,743 - - - 1,001 1,706 - 1,706 4,067 917 - 917 - - - - 7,130 Total Funds |
|---|---|---|
| 87,428 49,200 136,628 77,782 |
||
| 23,627 - 23,627 66,239 265 - 265 3,414 |
||
| 23,892 - 23,892 69,653 |
||
| 7,573 - 7,573 3,024 2,666 - 2,666 5,092 870 - 870 870 - - - - |
||
| 11,109 - 11,109 8,986 |
||
| - - - - - - - - |
||
| - - - - |
||
The Oratory of St Philip Neri at Manchester
NOTES TO THE FINANCIAL STATEMENTS TO 31 DECEMBER 2023 continued ..
| 6 6 7 8 9 10 |
a) Tangible Fixed Assets Freehold Equipment Land & Buildings Total Cost/Valuation B/forward 1 January 2023 - - - Addition at Cost - - - Revaluation - - Disposal - - - At 31 December 2023 - - - Depreciation B/forward 1 January 2023 - - - On disposals - - - Charge for the year - - - At 31 December 2023 - - - Net Book Value31 December 2023 - - - Net Book Value31 December 2022 - - - b) Investments £ £ B/forward at 1 January 2023 - - Unrealised gain/(loss) on revaluation - - Market value 31 December 2023 £ - £ - SUNDRY DEBTORS 2023 2022 £ £ Amounts due within one year - - CREDITORS : AMOUNTS DUE WITHIN ONE YEAR 2023 2022 £ £ Accruals and deferred income 870 870 Creditors for goods and levies - - 870 870 ANALYSIS OF NET ASSETS BY FUND Unrestricted Restricted Funds Funds Total £ £ £ Fixed Assets - - - Net Current Assets 26,909 - 26,909 £ 26,909 - 26,909 TRANSACTIONS WITH TRUSTEES |
Freehold Land & Buildings - - - - |
Equipment - - - - |
Total - - - |
|---|---|---|---|---|
| - | - | - | ||
| - - - |
- - - |
- - - |
||
| - | - | - | ||
| - | - | - | ||
| - | - | - | ||
| £ - - |
||||
| 2022 £ - |
||||
| 2022 £ 870 - |
||||
| Accruals and deferred income Creditors for goods and levies ANALYSIS OF NET ASSETS BY FUND Fixed Assets Net Current Assets £ TRANSACTIONS WITH TRUSTEES |
||||
| 870 | ||||
| Total £ - 26,909 |
||||
| 26,909 | 26,909 | |||
The Trustees are the Parish Priests of St Chad's. Funds are both received from and distributed to the parish and are utilised to maintain the church premises, the presbytery and the clergy. No payments are made by the charity to or for the benefit of the trustees in their capacity as trustees but payments are made to support the priests in carrying out their pastoral duties and to assist in maintaining and renovating the church and church buildings and the fabric of parish life in and around St Chad's and The Oratory. Any capital assets funded by the Oratory are effectively donated to the Parish.