**REGISTERED COMPANY NUMBER: 09681330 (England and Wales) REGISTERED CHARITY NUMBER: 1166645**
## REPORT OF THE TRUSTEES AND
## UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
## FOR
THE GRAND PRIORY OF BLESSED ADRIAN FORTESCUE OF THE ORDER OF MALTA TRUST
Brindley Millen Ltd 167 Turners Hill
Cheshunt Hertfordshire EN8 9BH
THE GRAND PRIORY OF BLESSED ADRIAN FORTESCUE OF THE ORDER OF MALTA TRUST
## CONTENTS OF THE FINANCIAL STATEMENTS for the Year Ended 31 December 2022
|||**Page**||
|---|---|---|---|
|**Report of the Trustees**|1|to|3|
|**Independent Examiner's Report**||4||
|**Statement of Financial Activities**||5||
|**Balance Sheet**||6||
|**Notes to the Financial Statements**|7|to|13|
|**Detailed Statement of Financial Activities**||14||
THE GRAND PRIORY OF BLESSED ADRIAN FORTESCUE OF THE ORDER OF MALTA TRUST
## REPORT OF THE TRUSTEES
## for the Year Ended 31 December 2022
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2022. The trustees have adopted the provisions 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 (FRS 102) (effective 1 January 2019).
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and aims**
The Charity's objects are:
a. The advancement of the Roman Catholic Religion;
b. The advancement of any charitable purposes supported by the Order in any part of the world;
c. The relief of poverty and the advancement of health anywhere in the world;
In carrying out its objects the charity should not be involved in or support any activity which is contrary to the teaching of the Roman Catholic Church.
The main objectives for the period were to:
a) Administer the religious activities of the Charity;
b) Raise funds towards the running costs of the Charity;
c) Manage outgoings in relation to the budget in order to provide a basis for financial planning.
## **Public benefit**
In setting these objective the trustees confirm that they have had regard to the guidance contained in the Charity Commission's general guidance on public benefit
## **Grantmaking**
The Charity continues to make grants to activities that support its aims. In particular, an annual donation is given towards a small chapel where the Charity undertakes its activities. The Charity has also commissioned and is publishing works that fulfil its charitable objectives as well as running events in support of these objectives throughout England and Wales. Vestments were also donated for use in Scotland. It also donated vestments to a Catholic Church in Kenya.
The charity does not solicit or accept applications for grant funding.
## **ACHIEVEMENT AND PERFORMANCE**
## **Charitable activities**
The Charity was registered on the 10th July 2015 and activities commenced on 1st January 2016.
The Charity continues in its purposes by organising regular religious events and activities throughout the period. These comprise Roman Catholic religious services, spiritual formation, and theological education. These are generally advertised and open to the public.
In September 2021 the Charity took out a lease on a basement at 23 Golden Square, London (just behind to the church of Our Lady of the Assumption and St Gregory), which is has converted into office space and a chapel. This property is in effect the headquarters of the Charity and is used to enable members to get together and for functions. It also contains the library of the Charity which is available for use by those that request access.
Small grants have been made to partners and beneficiaries to further the purposes of the charity.
Previously the Charity has engaged in fundraising for individual projects.
The Charity regularly corresponds with members and affiliated persons, with religious content and information about events. The Charity communicates with the public online through social media and a blog. A website is being constructed.
## **FINANCIAL REVIEW**
## **Financial position**
A summary of the result for the period is given on the SOFA, Balance Sheet and corresponding notes.
## **Investment policy and objectives**
The Trustees consider that specialised investments designed for the charity sector best meet the Charity's need for income and capital growth. Authorisation has been given to the Charity's broker to manage the Charity's investment portfolio. In making investment decisions, regard is had to the charitable objectives.
Page 1
THE GRAND PRIORY OF BLESSED ADRIAN FORTESCUE OF THE ORDER OF MALTA TRUST
## REPORT OF THE TRUSTEES
## for the Year Ended 31 December 2022
## **FINANCIAL REVIEW**
## **Reserves policy**
The Trustees have established a reserve policy whereby unrestricted funds (free reserves) will be maintained at levels which allow the Trustees to support the maximum number of charitable projects through interest and capital growth. The current level of general reserves stands at £650,710
The Trustees consider that reserves should be maintained at a level that produces sufficient income to allow the cash balance of the charity to remain at a level equal to the total annual outgoings. To this end, the Trustees will continue to increase the reserves of the charity where possible.
## **FUTURE PLANS**
In future periods, the directors will build up the activities, public presence, and resources of the Charity so as to continue to fulfil its aims and objectives.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The charity was established under a Memorandum of Association on 10th July 2015 which established the objects and powers of the charity, and is governed under its Articles of Association. In the event of the charity being wound up members are required to contribute an amount not exceeding £10.
## **Recruitment and appointment of new trustees**
The Directors of the Company are also charity Trustees for the purposes of charity law and under the Company's Articles are responsible for the management of the business of the Company. Under the requirements of the Memorandum and Articles of Association each Trustee/Director shall serve for a term not exceeding six years and is eligible for re-election.
Persons who have expertise in financial management and investment, and who have shown an interest in and sympathy with the aims of the Charity may from time to time be invited to join the Board.
## **Induction and training of new trustees**
New Trustees would first have a meeting with the Procurator/Chairman who would explain the history and aims of the Charity. This would be followed by an explanation of the governance of the Charity, the latest reports and accounts, and the investment policy.
## **Related parties**
The charity constitutes an autonomous part of the Sovereign Military Hospitaller Order of St John of Jerusalem of Rhodes and of Malta ('the Order of Malta'), with its headquarters at Magistral Palace, Via Condotti, 68, Rome, Italy. The charity collaborates from time to time with other organs and constituent parts of the Order of Malta in the United Kingdom and worldwide.
No incorporated or unincorporated body holds any legal interest in the charity. The directors at all times retain responsibility for and over the activities and assets of the charity.
## **REFERENCE AND ADMINISTRATIVE DETAILS**
## **Registered Company number**
09681330 (England and Wales)
## **Registered Charity number**
1166645
## **Registered office**
67 Castletown Road London W14 9HG
## **Trustees**
Fra' I C D Scott (appointed 9.8.22) Fra' M W A Rumney Mr K D G Kirk Fra' J W M Chadwick (resigned 25.7.22) Major H T C F M de Burgh Fra' D A Gallie (resigned 25.7.22) Fra' R J Berkley-Matthews
Page 2
THE GRAND PRIORY OF BLESSED ADRIAN FORTESCUE OF THE ORDER OF MALTA TRUST
for the Year Ended 31 December 2022
## REPORT OF THE TRUSTEES
## **REFERENCE AND ADMINISTRATIVE DETAILS**
## **Independent Examiner**
Brindley Millen Ltd 167 Turners Hill Cheshunt Hertfordshire EN8 9BH 09/26/2023 Approved by order of the board of trustees on ............................................. and signed on its behalf by:
..............................................................................Fra' Max Rumney (Sep 26, 2023 15:51 GMT+1) Fra' M W A Rumney - Trustee
Page 3
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE GRAND PRIORY OF BLESSED ADRIAN FORTESCUE OF THE ORDER OF MALTA TRUST
## **Independent examiner's report to the trustees of The Grand Priory Of Blessed Adrian Fortescue Of The Order Of Malta Trust ('the Company')**
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2022.
## **Responsibilities and basis of report**
As the charity's trustees of the Company (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 Company 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 Company 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 UK 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.
## Maurice Brindley
## Maurice Brindley (Sep 25, 2023 16:16 GMT+1)
Maurice William Brindley BSc FCA
Brindley Millen Ltd 167 Turners Hill Cheshunt Hertfordshire EN8 9BH Date: .............................................
Page 4
THE GRAND PRIORY OF BLESSED ADRIAN FORTESCUE OF THE ORDER OF MALTA TRUST
## STATEMENT OF FINANCIAL ACTIVITIES
## (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) for the Year Ended 31 December 2022
|Unrestricted
fund
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
151,317
**Charitable activities**
Charitable Activities
24,592
Investment income
2
13,254
**Total**
189,163
**EXPENDITURE ON**
**Charitable activities**
Charitable Activities
72,206
Net gains/(losses) on investments
(69,940)
**NET INCOME**
47,017
**RECONCILIATION OF FUNDS**
Total funds brought forward
601,593
**TOTAL FUNDS CARRIED FORWARD**
648,610|31.12.22
31.12.21
Restricted
Total
Total
funds
funds
funds
£
£
£
4,725
156,042
18,603
-
24,592
8,340
-
13,254
13,168
4,725
193,888
40,111
3,703
75,909
45,884
-
(69,940)
56,265
1,022
48,039
50,492
2,630
604,223
553,731
3,652
652,262
604,223|31.12.22
31.12.21
Restricted
Total
Total
funds
funds
funds
£
£
£
4,725
156,042
18,603
-
24,592
8,340
-
13,254
13,168
4,725
193,888
40,111
3,703
75,909
45,884
-
(69,940)
56,265
1,022
48,039
50,492
2,630
604,223
553,731
3,652
652,262
604,223|
|---|---|---|
|||40,111|
|||45,884|
|||56,265|
|||50,492
553,731|
|||604,223|
The notes form part of these financial statements
Page 5
THE GRAND PRIORY OF BLESSED ADRIAN FORTESCUE OF THE ORDER OF MALTA TRUST (REGISTERED NUMBER: 09681330)
## BALANCE SHEET
## 31 December 2022
|Unrestricted
fund
Notes
£
**FIXED ASSETS**
Tangible assets
7
63,462
**CURRENT ASSETS**
Stocks
8
14,410
Debtors
9
13,464
Investments
10
438,985
Cash at bank
123,023
589,882
**CREDITORS**
Amounts falling due within one year
11
(4,734)
**NET CURRENT ASSETS**
585,148
**TOTAL ASSETS LESS CURRENT LIABILITIES**
648,610
**NET ASSETS**
648,610
**FUNDS**
13
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|31.12.22
31.12.21
Restricted
Total
Total
funds
funds
funds
£
£
£
-
63,462
46,949
-
14,410
9,626
-
13,464
7,984
-
438,985
508,925
3,652
126,675
36,950
3,652
593,534
563,485
-
(4,734)
(6,211)
3,652
588,800
557,274
3,652
652,262
604,223
3,652
652,262
604,223
648,610
601,593
3,652
2,630
652,262
604,223|
|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
- (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
- (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
09/25/2023 The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
## David Kirk
David Kirk (Sep 25, 2023 11:21 GMT+1)
.............................................
Mr K D G Kirk - Trustee
The notes form part of these financial statements
Page 6
THE GRAND PRIORY OF BLESSED ADRIAN FORTESCUE OF THE ORDER OF MALTA TRUST
NOTES TO THE FINANCIAL STATEMENTS for the Year Ended 31 December 2022
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements and assessment of going concern**
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.
The financial statements are presented in sterling (£).
## **Critical accounting judgements and key sources of estimation uncertainty**
In preparing financial statements it is necessary to make certain judgements, estimated and assumptions that affect the amounts recognised in the financial statements. The following judgements and estimates are considered by the trustees to have most significant effect on amounts recognised in the financial statements.
Useful economic life of tangible fixed assets:
The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are reassessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - in accordance with the property Fixtures and fittings - 33% on cost
## **Stocks**
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
## **Taxation**
The charity is exempt from corporation tax on its charitable activities.
## **Debtors**
Debtors are initially recognised at their settlement amount and subsequently at amortised cost of their recoverable amount. Impairment provisions are recognised when there is objective evidence, such as significant financial difficulties on the part of the counterparty or default of a significant delay in payment, that the charity will be unable to collect all of the amounts due. Prepayments are valued at the amount prepaid.
## **Cash at bank and in hand**
Cash at bank and in hand includes cash, current bank accounts and deposit bank accounts with no withdrawal limitations.
## **Creditor**
Creditors and provisions are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be measured or estimated reliably. Creditors and provisions are initially recognised at fair value, being the amount the charity anticipates it will pay to settle the debt, and subsequently at amortised cost.
continued...
Page 7
THE GRAND PRIORY OF BLESSED ADRIAN FORTESCUE OF THE ORDER OF MALTA TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 December 2022
## **1. ACCOUNTING POLICIES - continued**
## **Fund accounting**
Unrestricted funds can be used in accordance with the 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 restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **Financial instruments**
The charity only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
## **2. INVESTMENT INCOME**
## **3.**
|**INVESTMENT INCOME**|||
|---|---|---|
||31.12.22|31.12.21|
||£|£|
|Dividends|13,254|13,168|
|**NET INCOME/(EXPENDITURE)**|||
|Net income/(expenditure) is stated after charging/(crediting):|||
||31.12.22|31.12.21|
||£|£|
|Depreciation - owned assets|6,190|-|
|Independent Examination|1,900|1,800|
## **4. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 December 2022 nor for the year ended 31 December 2021.
## **Trustees' expenses**
One or more trustees has claimed expenses or had their expenses met by the charity. The total amount of expenses reimbursed to trustees or paid directly to third parties was £4,233 (2021: £2,217).
The nature of those expenses was the reimbursement of travel and office expenses associated connected with the discharge of duties as Grand Prior of England, as Pro Chancellor/Procurator, Receiver (Treasurer), and representatives of the organisation at international meetings. As such this includes attendance at events across the UK and in Rome, telephone, printing, entertainment connected to events, meetings, and fundraising, and associated travelling costs. Others are reimbursed when they incur similar expenses.
The number of trustees reimbursed for expenses or who had expenses paid by the charity were 2 (2021: 2): Fra' Maxwell Rumney and Fra' Ian Scott.
continued...
Page 8
THE GRAND PRIORY OF BLESSED ADRIAN FORTESCUE OF THE ORDER OF MALTA TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 December 2022
## **5. STAFF COSTS**
The average monthly number of employees during the year was as follows:
## **6.**
|||31.12.22|31.12.21|
|---|---|---|---|
|All Staff||1|1|
|No employees received emoluments in excess of £60,000.||||
|**COMPARATIVES FOR THE STATEMENT OF FINANCIAL**|**ACTIVITIES**|||
||Unrestricted|Restricted|Total|
||fund|funds|funds|
||£|£|£|
|**INCOME AND ENDOWMENTS FROM**||||
|Donations and legacies|10,777|7,826|18,603|
|**Charitable activities**||||
|Charitable Activities|8,340|-|8,340|
|Investment income|13,168|-|13,168|
|**Total**|32,285|7,826|40,111|
|**EXPENDITURE ON**||||
|**Charitable activities**||||
|Charitable Activities|40,188|5,696|45,884|
|Net gains on investments|56,265|-|56,265|
|**NET INCOME**|48,362|2,130|50,492|
|**RECONCILIATION OF FUNDS**||||
|Total funds brought forward|553,231|500|553,731|
|**TOTAL FUNDS CARRIED FORWARD**|601,593|2,630|604,223|
The above comparative SOFA relates to the previous accounting period.
continued...
Page 9
THE GRAND PRIORY OF BLESSED ADRIAN FORTESCUE OF THE ORDER OF MALTA TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 December 2022
|**7.**|**TANGIBLE FIXED ASSETS**|||||
|---|---|---|---|---|---|
|||Improvements||Fixtures||
|||to||and||
|||property||fittings|Totals|
|||£||£|£|
||**COST**|||||
||At 1 January 2022|46,949||2,620|49,569|
||Additions|22,703||-|22,703|
||At 31 December 2022|69,652||2,620|72,272|
||**DEPRECIATION**|||||
||At 1 January 2022||-|2,620|2,620|
||Charge for year|6,190||-|6,190|
||At 31 December 2022|6,190||2,620|8,810|
||**NET BOOK VALUE**|||||
||At 31 December 2022|63,462||-|63,462|
||At 31 December 2021|46,949||-|46,949|
|**8.**|**STOCKS**|||||
|||||31.12.22|31.12.21|
|||||£|£|
||Stocks|||14,410|9,626|
|**9.**|**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**|||||
|||||31.12.22|31.12.21|
|||||£|£|
||Trade debtors|||750|750|
||Other debtors|||8,582|4,400|
||Prepayments|||4,132|2,834|
|||||13,464|7,984|
|**10.**|**CURRENT ASSET INVESTMENTS**|||||
|||||31.12.22|31.12.21|
|||||£|£|
||Listed investments|||438,985|508,925|
continued...
Page 10
THE GRAND PRIORY OF BLESSED ADRIAN FORTESCUE OF THE ORDER OF MALTA TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 December 2022
## **11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
||31.12.22|31.12.21|
|---|---|---|
||£|£|
|Trade creditors|580|992|
|Other creditors|-|265|
|Accruals and deferred income|1,050|-|
|Accrued expenses|3,104|4,954|
||4,734|6,211|
## **12. LEASING AGREEMENTS**
Minimum lease payments under non-cancellable operating leases fall due as follows:
||31.12.22|31.12.21|
|---|---|---|
||£|£|
|Within one year|10,000|10,000|
|Between one and five years|40,000|40,000|
|In more than five years|35,000|67,096|
||85,000|117,096|
The lease on 23 Golden Square contains break clause allowing the charity to leave the premises with six months notice.
## **13. MOVEMENT IN FUNDS**
|**Unrestricted funds**
General fund
**Restricted funds**
Third Party Donations
Vestments donation
Golden Square
**TOTAL FUNDS**
Net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
189,163
**Restricted funds**
Vestments donation
4,625
Golden Square
100
4,725
**TOTAL FUNDS**
193,888|Net
movement
At
At 1.1.22
in funds
31.12.22
£
£
£
601,593
47,017
648,610
500
-
500
2,130
932
3,062
-
90
90
2,630
1,022
3,652
604,223
48,039
652,262
Resources
Gains and
Movement
expended
losses
in funds
£
£
£
(72,206)
(69,940)
47,017
(3,693)
-
932
(10)
-
90
(3,703)
-
1,022
(75,909)
(69,940)
48,039|Net
movement
At
At 1.1.22
in funds
31.12.22
£
£
£
601,593
47,017
648,610
500
-
500
2,130
932
3,062
-
90
90
2,630
1,022
3,652
604,223
48,039
652,262
Resources
Gains and
Movement
expended
losses
in funds
£
£
£
(72,206)
(69,940)
47,017
(3,693)
-
932
(10)
-
90
(3,703)
-
1,022
(75,909)
(69,940)
48,039|
|---|---|---|
|||1,022|
|||48,039|
continued...
Page 11
THE GRAND PRIORY OF BLESSED ADRIAN FORTESCUE OF THE ORDER OF MALTA TRUST
NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 December 2022
## **13. MOVEMENT IN FUNDS - continued**
**Comparatives for movement in funds**
|**Unrestricted funds**
General fund
**Restricted funds**
Third Party Donations
Vestments donation
**TOTAL FUNDS**
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
32,285
**Restricted funds**
Vestments donation
7,826
**TOTAL FUNDS**
40,111|Net
movement
At
At 1.1.21
in funds
31.12.21
£
£
£
553,231
48,362
601,593
500
-
500
-
2,130
2,130
500
2,130
2,630
553,731
50,492
604,223
Resources
Gains and
Movement
expended
losses
in funds
£
£
£
(40,188)
56,265
48,362
(5,696)
-
2,130
(45,884)
56,265
50,492|Net
movement
At
At 1.1.21
in funds
31.12.21
£
£
£
553,231
48,362
601,593
500
-
500
-
2,130
2,130
500
2,130
2,630
553,731
50,492
604,223
Resources
Gains and
Movement
expended
losses
in funds
£
£
£
(40,188)
56,265
48,362
(5,696)
-
2,130
(45,884)
56,265
50,492|
|---|---|---|
|||50,492|
A current year 12 months and prior year 12 months combined position is as follows:
|**Unrestricted funds**
General fund
**Restricted funds**
Third Party Donations
Vestments donation
Golden Square
**TOTAL FUNDS**|Net
movement
At
At 1.1.21
in funds
31.12.22
£
£
£
553,231
95,379
648,610
500
-
500
-
3,062
3,062
-
90
90
500
3,152
3,652
553,731
98,531
652,262|Net
movement
At
At 1.1.21
in funds
31.12.22
£
£
£
553,231
95,379
648,610
500
-
500
-
3,062
3,062
-
90
90
500
3,152
3,652
553,731
98,531
652,262|
|---|---|---|
|||3,652|
|||652,262|
continued...
Page 12
THE GRAND PRIORY OF BLESSED ADRIAN FORTESCUE OF THE ORDER OF MALTA TRUST
## NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 December 2022
## **13. MOVEMENT IN FUNDS - continued**
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**Restricted funds**
Vestments donation
Golden Square
**TOTAL FUNDS**|Incoming
resources
£
221,448
12,451
100
12,551
233,999|Resources
expended
£
(112,394)
(9,389)
(10)
(9,399)
(121,793)|Gains and
Movement
losses
in funds
£
£
(13,675)
95,379
-
3,062
-
90
-
3,152
(13,675)
98,531|Gains and
Movement
losses
in funds
£
£
(13,675)
95,379
-
3,062
-
90
-
3,152
(13,675)
98,531|
|---|---|---|---|---|
|||||3,152|
|||||98,531|
The charity had three restricted funds in the year.
The first ('Third Party Donations') is earmarked for contributions to partakers in the annual Chartres pilgrimage. The second ('Vestments Donation') is for the purchase of vestments for use in public liturgies.
The third ('Golden Square') is for the purchase of a fixture for the charity's premises in Golden Square.
## **14. RELATED PARTY DISCLOSURES**
During the year £1,912 was paid to Clarion Wines Ltd a company in which Fra' Richard Berkley-Matthews is a shareholder.
## **15. LIMITED BY GUARANTEE**
The company is limited by guarantee of members and does not have a share capital. The liability of members is limited to £10.
Page 13
THE GRAND PRIORY OF BLESSED ADRIAN FORTESCUE OF THE ORDER OF MALTA TRUST
## DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31 December 2022
|DETAILED STATEMENT OF FINANCIAL ACTIVITIES
for the Year Ended 31 December 2022|||
|---|---|---|
||31.12.22|31.12.21|
||£|£|
|**INCOME AND ENDOWMENTS**|||
|**Donations and legacies**|||
|Donations|10,885|11,830|
|Legacies|134,309|-|
|Memberships|3,816|4,288|
|Retreats & Pilgrimages|7,032|2,485|
||156,042|18,603|
|**Investment income**|||
|Dividends|13,254|13,168|
|**Charitable activities**|||
|Book Sales|24,592|8,340|
|**Total incoming resources**|193,888|40,111|
|**EXPENDITURE**|||
|**Charitable activities**|||
|Wages|7,200|7,200|
|Rent and service charge|12,877|5,093|
|Insurance|3,039|2,564|
|Annual Retreats & Pilgrimages|11,758|1,717|
|Church Expenditure|13,793|16,880|
|General Office Expenses|3,377|973|
|Grants Made|-|566|
|Travel|1,328|1,696|
|Book production|13,251|6,046|
||66,623|42,735|
|**Support costs**|||
|**Management**|||
|Storage Costs|830|1,000|
|Amortisation of intangible fixed assets|5,630|-|
|Depreciation of tangible and heritage assets|560|-|
||7,020|1,000|
|**Finance**|||
|Bank charges|149|31|
|**Governance costs**|||
|Accountancy and legal fees|2,117|2,118|
|Total resources expended|75,909|45,884|
|**Net income/(expenditure) before gains and losses**|117,979|(5,773)|
|**Realised recognised gains and losses**|||
|Realised gains/(losses) on investments|(69,940)|56,265|
|**Net income**|48,039|50,492|
This page does not form part of the statutory financial statements
Page 14