**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 2023**
## **FOR**
**THE GRAND PRIORY OF BLESSED ADRIAN FORTESCUE OF THE ORDER OF MALTA TRUST**
**THE GRAND PRIORY OF BLESSED ADRIAN FORTESCUE OF THE ORDER OF MALTA TRUST**
## **CONTENTS OF THE FINANCIAL STATEMENTS for the Year Ended 31 DECEMBER 2023**
|||**Page**||
|---|---|---|---|
|**Report of the Trustees**|1|to|3|
|**Independent Examiner's Report**||4||
|**Statement of Financial Activities**||5||
|**Balance Sheet**|6|to|7|
|**Notes to the Financial Statements**|8|to|15|
|**Detailed Statement of Financial Activities**|16|to|17|
**THE GRAND PRIORY OF BLESSED ADRIAN FORTESCUE OF THE ORDER OF MALTA TRUST**
## **REPORT OF THE TRUSTEES for the Year Ended 31 DECEMBER 2023**
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 2023. 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.
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 as well as members of the public 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 has been built - orderofmalta.co.uk
The number of members in the Charity grew substantially last year due to changes to the Constitution of the Order of Malta from about 40 members to now about 300 members.
The publishing of the Charity is now well known and books are sold throughout the world - particularly in the USA. More books of a spiritual nature are being planned.
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 2023**
## **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 Roman Catholic charities best meet the Charity's need for income and capital growth. In making investment decisions, regard is had to the charitable objectives.
## **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 £675,682.
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 Grand Prior/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
Page 2
**THE GRAND PRIORY OF BLESSED ADRIAN FORTESCUE OF THE ORDER OF MALTA TRUST**
## **REPORT OF THE TRUSTEES for the Year Ended 31 DECEMBER 2023**
## **Registered office**
67 Castletown Road London W14 9HG
## **Trustees**
Fra' I C D Scott Fra' M W A Rumney Mr K D G Kirk Major H T C F M de Burgh Fra' R J Berkley-Matthews
09/25/2024
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
Fra' Max Rumney ........................................................................Fra' Max Rumney (Sep 25, 2024 11:34 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 2023.
## **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, 2024 17:15 GMT+1)
Maurice William Brindley BSc FCA
09/25/2024 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 2023**
|Unrestricted
fund
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
34,759
**Charitable activities**
Charitable Activities
23,073
Investment income
2
13,640
**Total**
71,472
**EXPENDITURE ON**
**Charitable activities**
Charitable Activities
78,430
Net gains/(losses) on investments
34,030
**NET INCOME/(EXPENDITURE)**
27,072
**RECONCILIATION OF FUNDS**
Total funds brought forward
648,610
**TOTAL FUNDS CARRIED FORWARD**
675,682|Restricted
funds
£
-
-
-
-
3,374
-
(3,374)
3,652
278|31.12.23
31.12.22
Total
Total
funds
funds
£
£
34,759
156,042
23,073
24,592
13,640
13,254
71,472
193,888
81,804
75,909
34,030
(69,940)
23,698
48,039
652,262
604,223
675,960
652,262|
|---|---|---|
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 2023**
|Unrestricted
fund
Notes
£
**FIXED ASSETS**
Tangible assets
7
60,174
**CURRENT ASSETS**
Stocks
8
14,521
Debtors
9
13,073
Investments
10
473,015
Cash at bank
120,849
621,458
**CREDITORS**
Amounts falling due within one year
11
(5,950)
**NET CURRENT ASSETS**
615,508
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
675,682
**NET ASSETS**
675,682
**FUNDS**
13
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|Restricted
funds
£
-
-
-
-
278
278
-
278
278
278|31.12.23
Total
funds
£
60,174
14,521
13,073
473,015
121,127
621,736
(5,950)
615,786
675,960
675,960
675,682
278
675,960|31.12.22
Total
funds
£
63,462
14,410
13,464
438,985
126,675
593,534
(4,734)
588,800
652,262
652,262
648,610
3,652
652,262|
|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.
The notes form part of these financial statements
Page 6
continued...
## **THE GRAND PRIORY OF BLESSED ADRIAN FORTESCUE OF THE ORDER OF MALTA TRUST (REGISTERED NUMBER: 09681330)**
## **BALANCE SHEET - continued 31 DECEMBER 2023**
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 09/25/2024 ............................................. and were signed on its behalf by:
David Kirk .............................................David Kirk (Sep 25, 2024 17:13 GMT+1) Mr K D G Kirk - Trustee
The notes form part of these financial statements
Page 7
**THE GRAND PRIORY OF BLESSED ADRIAN FORTESCUE OF THE ORDER OF MALTA TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS for the Year Ended 31 DECEMBER 2023**
## **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.
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 2023**
## **1. ACCOUNTING POLICIES - continued**
## **Taxation**
## **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.
## **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**
|**INVESTMENT INCOME**|||
|---|---|---|
||31.12.23|31.12.22|
||£|£|
|Deposit account interest|237|-|
|Dividends|13,403|13,254|
||13,640|13,254|
## **3.**
## **NET INCOME/(EXPENDITURE)**
Net income/(expenditure) is stated after charging/(crediting):
||31.12.23|31.12.22|
|---|---|---|
||£|£|
|Depreciation - owned assets|7,428|6,190|
|Independent Examination|1,800|1,900|
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 2023**
## **4. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022.
## **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 £6,072 (2022: £4,233).
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 3 (2022: 2): Fra' Maxwell Rumney. Fra' Ian Scott and Fra' Richard Berkley-Matthews.
## **5. STAFF COSTS**
The average monthly number of employees during the year was as follows:
||31.12.23|31.12.22|
|---|---|---|
|All Staff|1|1|
No employees received emoluments in excess of £60,000.
## **6.**
## **COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
|Unrestricted
fund
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
151,317
**Charitable activities**
Charitable Activities
24,592
Investment income
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|Restricted
funds
£
4,725
-
-
4,725
3,703
-
1,022
2,630|Total
funds
£
156,042
24,592
13,254
193,888
75,909
(69,940)
48,039
604,223|
|---|---|---|
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 2023**
|**6.**|**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**|**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**|**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**|**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**|**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**|**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued**||
|---|---|---|---|---|---|---|---|
||||Unrestricted|||Restricted|Total|
|||||fund||funds|funds|
|||||£||£|£|
||**TOTAL FUNDS CARRIED FORWARD**||648,610|||3,652|652,262|
||The above comparative SOFA relates to the previous accounting period.|||||||
|**7.**|**TANGIBLE FIXED ASSETS**|||||||
|||Improvements|Fixtures|||||
|||to||and||Computer||
|||property|fittings|||equipment|Totals|
|||£||£||£|£|
||**COST**|||||||
||At 1 January 2023|69,652||2,620||-|72,272|
||Additions|1,200|||-|2,940|4,140|
||At 31 December 2023|70,852||2,620||2,940|76,412|
||**DEPRECIATION**|||||||
||At 1 January 2023|6,190||2,620||-|8,810|
||Charge for year|7,428|||-|-|7,428|
||At 31 December 2023|13,618||2,620||-|16,238|
||**NET BOOK VALUE**|||||||
||At 31 December 2023|57,234|||-|2,940|60,174|
||At 31 December 2022|63,462|||-|-|63,462|
|**8.**|**STOCKS**|||||||
|||||||31.12.23|31.12.22|
|||||||£|£|
||Stocks|||||14,521|14,410|
|**9.**|**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**|||||||
|||||||31.12.23|31.12.22|
|||||||£|£|
||Trade debtors|||||-|750|
||Other debtors|||||8,528|8,582|
||Prepayments|||||4,545|4,132|
|||||||13,073|13,464|
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 2023**
|**10.**
**CURRENT ASSET INVESTMENTS**
Listed investments
**11.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade creditors
Accruals and deferred income
Accrued expenses|31.12.23
£
473,015
31.12.23
£
-
1,050
4,900
5,950|31.12.22
£
438,985|31.12.22
£
438,985|
|---|---|---|---|
|||31.12.22
£
580
1,050
3,104
4,734||
||||4,734|
## **12. LEASING AGREEMENTS**
Minimum lease payments under non-cancellable operating leases fall due as follows:
||31.12.23|31.12.22|
|---|---|---|
||£|£|
|Within one year|10,000|10,000|
|Between one and five years|40,000|40,000|
|In more than five years|25,000|35,000|
||75,000|85,000|
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**|At 1.1.23
£
648,610
500
3,062
90
3,652
652,262|Net
movement
in funds
£
27,072
(300)
(3,062)
(12)
(3,374)
23,698|At
31.12.23
£
675,682
200
-
78|
|---|---|---|---|
||||278|
||||675,960|
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 2023**
## **13. MOVEMENT IN FUNDS - continued**
Net movement in funds, included in the above are as follows:
||Incoming|Resources|Gains and|Gains and|Movement|
|---|---|---|---|---|---|
||resources|expended|losses||in funds|
||£|£|£||£|
|**Unrestricted funds**||||||
|General fund|71,472|(78,430)|34,030||27,072|
|**Restricted funds**||||||
|Third Party Donations|-|(300)||-|(300)|
|Vestments donation|-|(3,062)||-|(3,062)|
|Golden Square|-|(12)||-|(12)|
||-|(3,374)||-|(3,374)|
|**TOTAL FUNDS**|71,472|(81,804)|34,030||23,698|
## **Comparatives for movement in funds**
|At 1.1.22
£
**Unrestricted funds**
General fund
601,593
**Restricted funds**
Third Party Donations
500
Vestments donation
2,130
Golden Square
-
2,630
**TOTAL FUNDS**
604,223
Comparative net movement in funds, included in the above are as follows:
Incoming
Resources
resources
expended
£
£
**Unrestricted funds**
General fund
189,163
(72,206)
**Restricted funds**
Vestments donation
4,625
(3,693)
Golden Square
100
(10)
4,725
(3,703)
**TOTAL FUNDS**
193,888
(75,909)|Net
movement
At
in funds
31.12.22
£
£
47,017
648,610
-
500
932
3,062
90
90
1,022
3,652
48,039
652,262
Gains and
Movement
losses
in funds
£
£
(69,940)
47,017
-
932
-
90
-
1,022
(69,940)
48,039|
|---|---|
continued...
Page 13
**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 2023**
## **13. MOVEMENT IN FUNDS - continued**
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**|At 1.1.22
£
601,593
500
2,130
-
2,630
604,223|Net
movement
in funds
£
74,089
(300)
(2,130)
78
(2,352)
71,737|At
31.12.23
£
675,682
200
-
78|
|---|---|---|---|
||||278|
||||675,960|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
||Incoming|Resources|Gains and|Gains and|Movement|
|---|---|---|---|---|---|
||resources|expended|losses||in funds|
||£|£|£||£|
|**Unrestricted funds**||||||
|General fund|260,635|(150,636)|(35,910)||74,089|
|**Restricted funds**||||||
|Third Party Donations|-|(300)||-|(300)|
|Vestments donation|4,625|(6,755)||-|(2,130)|
|Golden Square|100|(22)||-|78|
||4,725|(7,077)||-|(2,352)|
|**TOTAL FUNDS**|265,360|(157,713)|(35,910)||71,737|
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.
continued...
Page 14
**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 2023**
## **14. RELATED PARTY DISCLOSURES**
During the year £1,636.20 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 15
**THE GRAND PRIORY OF BLESSED ADRIAN FORTESCUE OF THE ORDER OF MALTA TRUST**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31 DECEMBER 2023**
|**DETAILED STATEMENT OF FINANCIAL ACTIVITIES**
**for the Year Ended 31 DECEMBER 2023**|||
|---|---|---|
||31.12.23|31.12.22|
||£|£|
|**INCOME AND ENDOWMENTS**|||
|**Donations and legacies**|||
|Donations|19,580|10,885|
|Legacies|5,000|134,309|
|Memberships|3,782|3,816|
|Retreats & Pilgrimages|6,397|7,032|
||34,759|156,042|
|**Investment income**|||
|Deposit account interest|237|-|
|Dividends|13,403|13,254|
||13,640|13,254|
|**Charitable activities**|||
|Book Sales|23,073|24,592|
|**Total incoming resources**|71,472|193,888|
|**EXPENDITURE**|||
|**Charitable activities**|||
|Wages|7,200|7,200|
|Rent and service charge|16,286|12,877|
|Insurance|3,344|3,039|
|Annual Retreats & Pilgrimages|5,848|11,758|
|Church Expenditure|21,442|13,793|
|General Office Expenses|3,712|3,377|
|Grants Made|1,786|-|
|Travel|2,958|1,328|
|Book production|8,941|13,251|
||71,517|66,623|
|**Support costs**|||
|**Management**|||
|Storage Costs|-|830|
|Amortisation of intangible fixed assets|6,756|5,630|
|Depreciation of tangible and heritage assets|672|560|
||7,428|7,020|
|**Finance**|||
|Bank charges|221|149|
|**Governance costs**|||
|Accountancy and legal fees|2,638|2,117|
This page does not form part of the statutory financial statements
Page 16
## **THE GRAND PRIORY OF BLESSED ADRIAN FORTESCUE OF THE ORDER OF MALTA TRUST**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31 DECEMBER 2023**
|**DETAILED STATEMENT OF FINANCIAL ACTIVITIES**
**for the Year Ended 31 DECEMBER 2023**|||
|---|---|---|
||31.12.23|31.12.22|
||£|£|
|Total resources expended|81,804|75,909|
|**Net (expenditure)/income before gains and**|||
|**losses**|(10,332)|117,979|
|**Realised recognised gains and losses**|||
|Realised gains/(losses) on investments|34,030|(69,940)|
|**Net income**|23,698|48,039|
This page does not form part of the statutory financial statements
Page 17
**The Grand Priory of Blessed Adrian Fortescue of the Order of Malta Trust 67 Castletown Road London W14 9HG**
Brindley Millen Ltd 167 Turners Hill Cheshunt Hertfordshire EN8 9BH
25[th] September 2024
Dear Sirs
This representation letter is provided in connection with your independent examination and preparation of the financial statements of The Grand Priory of Blessed Adrian Fortescue of the Order of Malta Trust for the year ending 31 December 2023 for the purpose of expressing an opinion as to whether the financial statements have been prepared in accordance with the accounting records, and the Companies Act 2006, the Charities Act 2011 and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
## **Financial statements**
1. We have fulfilled our responsibilities as trustees as set out in the terms of your engagement dated 22 August 2019 for preparing financial statements in accordance with the Companies Act 2006, which you have drafted on our behalf which are a materially accurate representation of the financial position of The Grand Priory of Blessed Adrian Fortescue of the Order of Malta Trust as of 31 December 2023 and of the results of its operations and its cash flows for the year then ended and for making accurate representations to you.
2. Significant assumptions used by us in making accounting estimates, including those measured at fair value, are reasonable.
3. We have no plans or intentions that may materially alter the carrying value and where relevant the fair value measurements or classification of assets and liabilities reflected in the financial statements.
4. We have disclosed all known actual or possible litigation and claims whose effects should be considered when preparing the financial statements and these have been disclosed in accordance with the requirements of accounting standards.
5. Related party relationships and transactions have been appropriately accounted for and disclosed in accordance with the requirements of accounting standards.
6. All events since the balance sheet date which require disclosure or which would materially affect the amounts in the financial statements have been adjusted or disclosed in the financial statements.
7. We confirm the financial statements are free of material misstatements, including omissions. We believe that those uncorrected misstatements identified during the independent examination are immaterial both individually and in aggregate to the financial statements as a whole.
8. We confirm that, having considered our expectations and intentions for the next twelve months, and the availability of working capital, the charity is a going concern. We confirm that the disclosures in the accounting policies are an accurate reflection of the reasons for our consideration that the financial statements should be drawn up on a going concern basis.
## **Information provided**
9. All accounting records and relevant information have been made available to you for the purpose of your independent examination. We have provided to you all other information requested and given unrestricted access to persons within the entity from whom you have deemed it necessary to obtain evidence. All other records and related information including minutes of all trustee meetings have been made available to you.
10. All transactions undertaken by the charity have been properly reflected in the accounting records and are reflected in the financial statements.
11. We acknowledge our responsibility for the design, implementation and maintenance of controls to prevent and detect fraud. We have disclosed to you the results of our assessment of the risk that the financial statements may be materially misstated as a result of fraud.
12. We have disclosed to you all information in relation to fraud or suspected fraud that we are aware of and that affects the entity and involves, management, employees who have significant roles in internal control, or others, where fraud could have a material effect on the financial statements.
13. We have disclosed to you all information in relation to allegations of fraud, or suspected fraud affecting the entity’s financial statements communicated by employees, former employees, analysts, regulators or others.
14. We confirm that we are not aware of any possible or actual instance of non-compliance with those laws and regulations which provide a legal framework within which the charity conducts its business and which could affect the financial statements. The charity has complied with all aspects of contractual agreements that could have a material effect on the financial statements in the event of non-compliance.
15. We confirm that we have disclosed to you the identity of the entity’s related parties and all related party relationships and transactions relevant to the charity that we are aware of.
16. The charity has satisfactory title to all assets, and there are no liens or encumbrances on the assets except for those disclosed in the financial statements.
17. There are no liabilities, contingent liabilities or guarantees to third parties other than those disclosed in the financial statements.
18. The charitable company has at no time during the year entered into any arrangement, transaction or agreement to provide credit facilities (including loans, quasi loans or credit transactions) for directors/trustees, nor to guarantee or provide security for such matters, except as disclosed in the financial statements.
We confirm to the best of our knowledge and belief that the above representations are made on the basis of enquiries of management and staff with relevant knowledge and experience and, where appropriate, of inspection of supporting documentation sufficient to satisfy ourselves that we can properly make each of the above representations to you.
We acknowledge our legal responsibilities regarding disclosure of information to you as independent examiner and confirm that so far as we are aware, there is no relevant information needed by you in connection with preparing your independent examination report of which you are unaware. Each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant independent examination information and to establish that you are aware of that information.
Yours faithfully
## David Kirk
## David Kirk (Sep 25, 2024 17:13 GMT+1)
For and on behalf of The Grand Priory of Blessed Adrian Fortescue of the Order of Malta Trust
We confirm that we have read and understood the contents of this letter and agree that it accurately reflects the representations that you, as trustees, made to us during the course of our examination.
## Maurice Brindley
Maurice Brindley (Sep 25, 2024 17:15 GMT+1) .......................................... Signed on behalf of Brindley Millen Ltd
> Date: 09/25/2024
## Grand Priory of Malta YE 31 December 2023
Final Audit Report 2024-09-25
Created: 2024-09-25 By: Maurice Brindley (MWB@brindleyjacob.co.uk) Status: Signed Transaction ID: CBJCHBCAABAA-jhemAL_UhcR4k5w2eFcOSZNY8tEksNB
## "Grand Priory of Malta YE 31 December 2023" History
## Document created by Maurice Brindley (MWB@brindleyjacob.co.uk)
2024-09-25 - 10:26:58 GMT- IP address: 78.148.238.23
## Document emailed to Fra' Max Rumney (prior@gpesmom.org) for signature
2024-09-25 - 10:27:03 GMT
## Email viewed by Fra' Max Rumney (prior@gpesmom.org)
2024-09-25 - 10:33:15 GMT- IP address: 5.148.48.98
## Document e-signed by Fra' Max Rumney (prior@gpesmom.org)
Signature Date: 2024-09-25 - 10:34:37 GMT - Time Source: server- IP address: 5.148.48.98
## Document emailed to David Kirk (receiver@gpesmom.org) for signature
2024-09-25 - 10:34:39 GMT
## Email viewed by David Kirk (receiver@gpesmom.org)
2024-09-25 - 11:04:21 GMT- IP address: 92.9.72.21
## Document e-signed by David Kirk (receiver@gpesmom.org)
Signature Date: 2024-09-25 - 16:13:07 GMT - Time Source: server- IP address: 92.9.72.21
Document emailed to Maurice Brindley (MWB@brindleyjacob.co.uk) for signature 2024-09-25 - 16:13:09 GMT
Email viewed by Maurice Brindley (MWB@brindleyjacob.co.uk) 2024-09-25 - 16:14:44 GMT- IP address: 78.148.238.23
## Document e-signed by Maurice Brindley (MWB@brindleyjacob.co.uk)
Signature Date: 2024-09-25 - 16:15:02 GMT - Time Source: server- IP address: 78.148.238.23
## Agreement completed.
2024-09-25 - 16:15:02 GMT