CARMELITE MONASTERY REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2023 CHARITY REGISTRATION NUMBER 1168127 IEn8land & Wales) CHARTERED CERTIFIED ACCOUNTANTS CHAMPLEYS MEWS MARKET PLACE PICKERING Y018 7AE CARMELITE MONASTERY c￿RITy INFORMATION ASAT 31ST DECEMBER 2023 Trustees Sr Brid8et Litchfield Sr R05ernary Harwar 5rAnn Dodd Accountsnts ampleys Chartered Certiffed Atcosjntsnts Champleys Mews Market Place Pickerina Y018 7AE Bankers Natwest I, Market Stmt York YOI 85R Prknclpal OperallnB Afldress The Carmellte Monastery Thor8anby York Y019 60E The trustees present thelr report and accounts for the 4nanisatson fr*the year ended 31st DeC￿ber 2023. The Charlty Namè, Regtstrathn and Area ofopwa The legal name of the charity 15 Carmelite mon￿tery. The tharityis rwtered in En8land & Waleswlth the Charlty co￿￿155¢On in Enwand & Wales ICCEW) wlth tharity number 1168127. The followlng pèrsons served asTrustees duriretheyearended 315t December 2023: Sr Bridget Utchfield Sr Rosemary Han¥ar Sr Ann Oodd The Trust Deed dated Istjuty 2016 go¥ern5 the apwntment and elecli¢)n of dirertOW5 and trustees. Any expenses rètlaimed from the tharity are set out in note 13 to the actounts. Oblects and Artlvltle5 ofthe Chwity The purposes of the Charity as set out in its 8(Y4ernirrf document a￿". • The provision of thapel buildings and faalitres for communtty and relt8ioU5 ￿e. Organisat¢on of ceremonies and ￿ents. Provision of altar doths, reli8ious zrtifacts ond communian wafer5to thurthes and thè public Provision of places of worship and peace. Facilltie5 for interment of ashe5. • Care for the eldÈrty and relièf of poverty. REPORTOFTHE TRUSTEES, FOR THE YEAR ÉNI)ED31STDECEMBER 2023 The maln acthkles undertaknn dwthgtheyèarts funherthe d￿rIv$PunjoSè1¢IthÉ ￿￿ts1￿benefft The main artivities undertaken in relation lo the purpose5 were to: Offer opportunities for public and a broad range ol groups to use thapel. To or8anise reli8ious Ceremonies and events for the publ . Contlnue to suppty a ran8e of altsr doths, artelacts and communlon wafeTsfor use bythe churthes and publk. Maintsin and ￿re for the 8ardens and faulitie5 for the Internment of ashe5. Provlde altematfve care seTrlces allowin8 patients to femaln outsfjde a hospltal ￿rOnment. MalntaSn and care for the gardens and fadlltSes for the Intemment of ashe • Prtsvide the community with fa¢ilities and ac¢ornm¢dati¢n for worship and peace. Pray and support those in need. • Offer opportunltSes for a broad Trn8e of people to be Invow wlth the or8anL%atlryi and our work. The trustees have had regard to the Chaflty Commlsslon's 8uldance on public benellt in mana8ln8 the actmtles of the charfty. Th• maln a¢hle¥em*nts and pwfNmanc¢ ofth• charlty th• y•ar The maln achlevements of the Charlty in 2023 have made a biq dlfference to the local people. The retreats and •way days lor plrtlclpants h4ve been a 8reat help, and enabled them to leel peKe sllllness. whll# wryrleg •nd tenslons subsld•. The maln churth seTrlces ha¥e boen wdl attended and the rel%lou5 shop 5tlll P￿￿deS a useful $￿ce to the are• lor those Ilvlna near, and for those on qulet day5 or reCupeTrtI￿ In ow flot. Many ¢(xne toobtakn ¢4fds and ilftsforv•rlous occaslons. The prayer garden and fKllltle5 for lrternmtht of •sh*s con￿nut to O¥e pexe of mlnd to Oft￿. We have also been able to help lool people and non ¢atholl¢ p•rtrwrsof our (r*n congrns•tlon. d•ce•sed, wth arran8ln8 funerols ofrthwn. The use ol the 8uest flat for those d15cernln8 ihelr personall￿Mey$ in Ilfe contlnues to grow. espedalty m•ny non Cathollc IndMdua15 and der8y. thereby Inu•a4re our•cumwlcal outr•ath to all falths 4nd non•. The supply of altar breads both whlte and as well a$8luten free hosts contlnues to be av•llable to IN Chrlsilan thurthos. The ¢hapel itsell is open all through the y••r for •nyon• wtho wlshes tt> come awmj pr•y orldn wrworsNp. CARMEUTE MONASTERY REPORT OFTHE TRUSTEES, FOR THE YEAR ENDED 31ST DECEMBER 2023 Fundra151n8 act5vStles durlnl the y•ar The rell8lous shop ha5 contlnued to open, the shop does not ask for payment from customers butgenerates Income from donations in kind. Tht rètrèats and vi5itoratttsmmadation also do not askfor payrnenl but ¢eneTrte in¢ome from donatlons in klnd. The group contlnue to provlde altar breads and Ilnens to local churches. Payment 55 recelved for these, but there Is no ntentional profit made from their 5ale- the purp05e is to cover the costs of buyln8 the materia15 and to cover the prowsin8 Costs. The Charity recelves general donatlons from vlsltors to the Chapel and 8rounds. The dlfferett￿ the charlty's perlornian¢• durln8 the year ha5 rnade io the benefftclarles of ihe tharftyaTrd towlder sodety. The Chaptl ¢ontinues to be a facility used bythè pvblic and local community. both as a religlous focal point and also for events and attivities. The fftmatorium h¥ remalned open to all who wtsh to vlslt, and has contlnued to be Pla￿ provldln8 peace to the visitors, their loved ones and all those Interred. The supply of altar b￿ad$, Cloths and artèfacts provides a seDAce to local churches and mlsslonartes. enablln$ them to perform their religious serylces. The altsr bread5 and artefacts are provided both to Catholtc and Protestant denominations. The retreats provided valuable supportto thosè who visited, who were often In need of respite or care to improve thelr wellbeln8. Elderly pottents retelve a good standard of care outslde a hospltsl envlronmen( and it ha5allowed many of its usèrs to stay in the communlty for longer, thus enhancing thelr quallty of life. CARMELITE MONASTERY REPORT OF THE TRUSTEÉS. FOR THE YEAR ENDED 31STDECEMBER 2028 Ststsmentof Trustees, Responslblltles The Trustees are responslble for preparlng theTrUSte￿ report and flnanclal ststements In accordance wlth appllcable law and UnSted KI￿d0M Accountlng Standards Iunlted Klngdom Generalty Accepted Accountlng Practlcel. The law appllcable to tha￿tIeS In England and Walès requlres the Trustees to prepare hnanclal statements for each financial year whlch gfve a true and falrvlew of the state of affairs of the Charlty and of the Incomln8 resources and applicatson of resources of the Charlty for thot year. In preparlng these flnancial statements the Trustees are requlred to.. select sultable accountln8 pollcles and then apply them con51stently• * observe the methods and principles in the Charltles SORP, make judgements and estlmate5 that are reasonable and prudent. prepare the financl¥l statement on the on8oln8 concern basls unless It Is Inapproprtate to presume that the chawlty wlll contlnue In operation. The Trustees are responsSble for keepin8 proper o¢countln8 records that dlsclose wlth reasonable acojracy at any tlme the ftnanclal p051tSon of the tharity and enable them to ensure that the flnanclal statements comply wlth the Charltles Act 2011, the Charfty Ik¢ounts and Aeportsl Re8ulatlons 2008 and the provislons of the CharfV5 con5tlutlon. They ara also rèsponslble for safe8uardln8 the assets of the Chèrlty and hence for taklng re•gonable steps for pr•ventlon and detectlon of fra¢Jd and other iffeRularlties. Thls report was approved by the Carmellte Monastery trustees on 2nd September 2024 and15 518ned on thelr behalf by: L.8. Lltchfield .P. Oodd CARMELITE MONASTERY REPORT OF THE TRUSTEES, FOR ThE YEAR ENDED 31ST DECEMBER 2023 nanclal Revlew The financial posltion of the charlty as at 3tst December 2023 as more fully detslled In the accounts can be summari5ed as follows.. 2023 2022 In¢ome Expenditurè Proflt/lLossl Im Revaluatlon of Investments Net SurplusllDefititl 184.139 158.144 1168.9231 1186,70n 55.994 221.954 71,210 1250,517 Vnrestritted Funds Restricted Funds Total Funds 431.845 360,635 431,845 360,635 The trustee5 consider the finant131 performance to have been satlslactory. The financial perfomance otthe Charlty Is fundamentslly underpinned by the investmènt trust. The perfomiance of the investment trust's underlying assets Is hl8hlyvarlable dependlng on wlder financlal market conditions. and thls can result in uneven 8ains and losses. The investments are Invested In a balanced portfolio, but one that is mostly consisted of equltles. There was a profit in the current year, and itwould be expected that overall the investments would Increase In ￿lue dlspSte somevolatility tn the prioryear. Reseryes Pollry The trustees aim for the Charity to retaln enou8h reserves to cover outstandin¢ liabilities at all tlmes, and to be able withstand variatlons In the Investment portfolio 8zin5 and losses. The board of trustee51s satlsfied that the tharlty's assets In each fund are available and adequate to fulfil Its obll8atlons. CARMELITE MONASTERY REPORTOF THE INDEPENDENT EXAMINER TO THE TRUSTEES FOR THÉ YEAR ÉNDED YIST DECEMBER 2023 A5 a practising member firm of the Association of Chartered Certified Accountants, we are sublect to Its ethical and other profe55ional requirements which are detailed at http.'Ilrulebook.acca8lobal.coml I report on the attounts of Camielite Monastsry forthe year ended 3tst December 2023. whl¢h aresei out on pa8e5 8 to 14. Rèspe£tlve Responslbllltles olTrustees and Examlner The ¢harlty's trustees are responslble forthe preparatlon of the accounts. The charity's trustees consider that an audit is not regul￿￿ for this year under sectlon 144 of the tharities Act 2011 lthe 2011 Act) and that an independent examiftation is needed. It 15 my re5pon5ibility lo.. examine the accounts under section 145 of the 2011A¢' tr to follow the procedures13id down in theBeneral DirèrtTrons given by the Charlty CNnmlsslon under5ertlon 14515llbl of the 2011 ACL and . to state whether particular matters have come to my attention. Basls ofihe Independent Emarnlnprfs Report My examlnation was carried out in accordante with the general Dlrectlons 8lven by the Charlty Commission. An examination indude5 a rÈviÈw of the accounting records kept by the charity and a comparison of the attounts presented with those record5. It also includes consideration of any unusual items ordlsclosures In the accounts, and sèeking explanations from you as trustees concemins any 5urh matters. The procedures undertaken do not provide all the evSdence that would be required in an audit and eonsequently no opinion is 8iven as to whether the accounts present a'true and fairview, and thè report is limited to those matters set out in the statsment below. Independènt Emamlnerfs Statement In connedion wlth my examlnatlon, no matter comè t) my attention.. whith glves me reasonable cause to believe that in any material respecL the requlrements: • to keèp accountin8 ￿cOr{*S in accordance with se¢Eion 130 of the 2011 Act; or • to prepare accounts whlch accord wlih the accountins records; or • eoncemlng the form and content of acthunts set avt In the Charltles (Accounts and Reports) Re8ulations 2008 otherthan any requirement that the accountsglve a'true and falr, vlew whl¢h Is not a matterconsldered as part of an independent examlnation. have not been met; or 2. to which, In my opinlon, attention should be drawn in order to enable a proper understandlnB of the accounts to bè reached. A4. Michael Richmond FCCA on beholf of Champleys Chartered Certified Accountonts Champleys Mews Market Place PSckerin8 Y018 7AE 2nd September 2024 CARMELITE MONASTERY STATEMENTOF FINANCIALACTMTIES FOR THE YEAR ENDED 31ST DECEMBER 2023 Totsl Total Income Donations znd Legatits Charitsble Acrmties Event5 and Tradin8 ArtNr(ies Investment Income Sundry Intome 21?15 94,331 6.045 f￿)￿1 L017 21.915 94.331 6.045 60,831 1,017 16,242 80,074 3,331 58.497 Total Income 184,139 184139 158.144 Expendlfvre Charitable Actiwties Fundraisln8 Governance and Support Costs Other thar8es Totsl Expendliure 144.920 10.776 13227 144,920 10,776 13327 171.726 9.167 5.814 168,923 168?23 186,707 ProfitllL0s51 on Revaluation of Investsmnts 55.994 55.994 1221,9541 Nel Moveffle￿ in Funds 7L2 12503171 Totsl Funds Brou8ht Forward 360,635 3￿.635 389,198 Totsl Funds Carried Forward 43L845 431,845 138,681 RMEufE MONASTERY BALANCE SHE￿ ASAT 31ST DECEMBER 2023 2022 Total Unrestrkted Re5tr1rted Total F¢xed assets and investments 1,597,280 1,597,280 1,564.782 Currtnt assets 380,591 380,591 399.658 Creditors.. amounts falllng due wlthin one year Total as5et5 les5 current liabilities io 1,545.184 432,687 L545,184 432,687 1,602.931 361509 Ama15 and deferred income IJ 874 Net assets 431,845 431,845 360.635 Cl￿rIty Funds 12 431.84S 431,845 3￿,635 Sl8ned by the following trustèès on behalf of all the twstees: Sr. Bridget Litchfield Approved on 2nd September 2024 Sr. Rose Harwar Approved on 2nd September 2024 CARMEUTE MONASTERY NOTESTOTHE Accouf4Ys FOR THE YEAR ENDED 31sr DECEMBER 2023 Ba515 of Preparjtlon 8asls of A¢¢ountlng These accounts have been piepared underthe hlstorlcal cost conventlon wlth Items reco8nlsed at cost or transactlon value unless tstherwlse ststed In the relevant notelsl to these a¢¢ounts. The a¢tounts have been prepared In attordanre wlth.. the Statement of Recommended Prartlce: Accountln8 and Reportln8 by Charftles pfeparfn8 thelr accounts In accordancèwlth thè Flnanclal Rèporting Standard applStable In the UK and Republlc of Ireland IFRS 1021 Iswed on 16 Juty 2014 o the Flnanclal Reportlng Standard appllcable In the Unlted Xlngdom and Republlc of Ireland {FRS 1021 the Charltleg Act 2011 The charlty constitute5 a publlc benefit entlty as defined by FRS 102. Golni Conc•rn The a¢counts are prepared on a golng concem basls. Chini• ol A¢¢ounilni Poll¢y and A¢¢ountkni Esllmat The accounts present a true and falr vlew and no changes have been made to the accountln8 pollcles adopted In note l. No change5 to accountln8 estSm3tes have occurred In the reportln8 perfod13.46 FR5102 SORPI. Materlal Prlgr Y•ar Errors No materlal pr5or year error h•ve been Identlfled In the r*portln8 perlod13,47 FRS102 SORPI. A¢￿U￿t￿l Pollcles- Incom• Recolnltlon of Incom• These are Included In the Statement ol Flnandal Actlvttles ISOFAI when.. • the charlty becomes entltled to the resources • It Is more Ilkely than noi that the trustee5 wlll re¢elve the resources • the monetary value can be measured wlth sufflclent rellablllty Oltsettln There has been no off5ettln8 of assets and Ilabllltlès, or Incom• and expens•4 unl•ss r•qulr•d or p•rmltted by the FR5 IOZ SORP or FAS 102. Grants and Donatlons Grants and donatlon5 are only Included In the SoFAwhen the 8eneral Income reco￿[110n Crfterla are mèt IS.10 to 5.12 FR5102 SORPI. In the ¢ase of performance related grants. Income must only be re¢o8nlsed t¢ the extent that the thbrlty has provlded the speclfled goods or servkes as entltlement to the 8rant ot)Iy occurs when the performance related ¢onditlons are met15.16 FRS 102 SORPI. ie8acles Le8acle5 are In¢luded In the SOFA when recelpt Is probable, that Is, when there has been Brant of prob•te, the executors have establlshed that there are sufficient a5SÈts in the estate and any condltlons attathed to the legaLy I￿ either withln the control ofthe charlty or have been meL Tax reclalm5 on domtlons and glfts Glft Ald receivable 15 included In income when there is a valld declaratlon from the donor. Any Gift Aid amount recovered on a donatlon Is considered to be part of that glft and Is treated a5 an addltion to the same fund as the initial donatlon unless the donor or the term5 of thè appeal have spedfied otherwise. io CARMELITE MONASTERY NOTESTOThE ACCOUNTS FOR THEYEAR ENDED 31ST DECEMBER 2023 A¢couhtln8 Pollcles- Incorne Ictd.) Contra¢tual lrtome and Performance Related Grants This Is only includèd in the SOFA onte the charity has provlded the relèied 8t>tsds or5erylces or metthe performance related condltlons. Donated Good5, Servkes and Facllltles Donated 8oods. servlces and facllltles are measured at falr value (the amount for whlch the asset could be exchanBedl unless Impractlcal to do so. Volunteer Help The value of anyvoluntary help re¢elved Is not Included In the attounts but Is des¢rlbed In the trustees. •nnu•l report. Ineom•from Inter•st• roy4ft1•s and dlvldends Thls Is Included Sn the accounts when recelpt Is probable and the amount recelvable can be m•￿Ured rqllabty. A¢¢ounilni Polkles. Expendltyr• •nd UobllSt•• U•blllty RKoinltlon LlabllStle5 are reco8nlsed where It Is more Ilkely than not that there Is a le8al or constructbve obll8atlon commlttlnl the charlty to pay out resources and Ihe amount of the obllgatlon can be measured wlth regsonoble ¢ertalnty. Govtrnan¢e and Support Costs Support costs have been allocated between 8ov•mance costs and other support. Governanc¢ cgsts comprlse all cost5 Involvln8 publSc accountablllty of the chlrlty and Its complllnce wlth Te8ulatlon and 8ood practlc•. Grants Where the charlty glves a grant wlth condltlons for Its payment beln8 a speclflc lèvel of seNl¢e or output to bè provlded, such grants are only reco8nlsed In the SOFA once the reclplent of the 8rant has provlded the spedfied s•rvlce or output. Where there are no condltlons attachln8 to ihe 8rant that enable5 the donor charlty to rea115tlc•lly avold th• commltment. a Ilablllty for the lull fundln8 obli8atlon must be reco8nlsed. R•dundancyCost The charSty Made no redundanry payments durlng the reportlng perlod. Provblons for LlJbllltles A1Sablllty Ss measured on reco8nltlon at Its hlstorfcal cost and then subsequently measured at the best estlmate of the amount requlred to settle the obllgatlon at the reportlng date. B•slc Flnanclal Instruments The charlty accounts for baslc fSnanclal Instruments on Inltlal recoBnStlon as per parayaph 10.7 FRS102 SORP. Subsequent measurement15 as per para8iaphs 11.17 to 11.19, FRS102 SORP. li CARMELITE MI)NASTERY NOTES TOThE ACCOUNTS FOR THEYEAR ENDED 31ST DECEMBER 1023 Accountl￿ Pollcles- Assets Amed Assetsfor use by Charlty These are capltallsed If they can be used formore than One￿ar, and cost at least £250. They are valued at cost and dÈpreuated on a 20% reducin8 balance basls. Investments Fixed asset investments Sn quoted shares, traded bonds and similar investment5 are valued at Inltlally at C05t and subsequently at fair value (thèir market value) at the year end. The same treatment is applied to unllsted Investments unless fairvalue cannot be mawred reliably in which case it 15 measured at cost less Impalrment. Investments held for resale or pendin8 thelrsale and cash and t￿h equNalents with a maturity date of less than I vearare treated as current asset investments. Stocks and Work In Progress Stocks held forsale as part of non-¢haritable trade are measured at the lower or cost or net reallsablevalue. Goods orserylces provlded as part of a ¢haritable adivity are measured at net reallsable value based on the setvlce potential providèd by items of Stock. Work in progress is valued at Cost less any foreseeable loss that Is Ilkely to o¢¢ur on the ¢ontrart. De￿0 Dèbtors (including trade debtors and loan5 recelvablel are measured on InStlal recognltlon at settlèment amount after any trade dlscounts or amount advanced by the Charity- Subsequently, they are measured at the cash or other con5ideratlon expected to be re￿Ived. Income from Interesl royaltles and dlvldends This is included in the accounts when receipt is probable and the amount recelvable can be measured rellablv. 12 CARMELITE MONASTERY NOTESTOTHE ACCOUNTS FOR THE YEAR ENDED 31ST DECEMBER 2023 2023 Unrestrkted Restslcted 2022 Totsl Total INCOME l Oonatlons and Lt8aciÈs Le8acles General Donations 21,915 21,915 21,915 21.915 16,242 16.242 2 Charftable Acllvlt7e5 Altar Bread and Linen Sales Donations from Retreats 92.006 2,325 94,331 92,006 2,325 94,331 80,074 80.074 3 Events and Trading Acllvlties Shop Sales and Donations 6.045 6,045 3.331 4 Investmenl Incorne Dividends Interest Rental and REIT Income GainllL0551 on Sale of Investrnents 29,629 15,289 9,345 6.568 60A31 29,629 15,289 27.108 10.283 2,005 ,ioi 58.497 6,568 60,831 EXPENOtruRE S Charftable Acllvltles Alms, Gifts and Donations Altar Bread Purchases Chapel and Grounds Maintenance Falth Related Actlvltles and Promotion Inflmiary and Care Provlslon Maintenance of Facilitie5 for Retreats Staff C05ts Relating to Charitable Activities 16,545 69.156 10.191 9A51 16,545 69,IS6 10,191 9.851 15,169 65,992 40.007 8.941 7.197 31.980 144,920 7,197 31,980 144,920 9,637 31,980 171.726 6 Fundralslng Investment Mana8ement Char8es Shop Purthase5 7,699 3.077 10.776 7,699 3,077 10,776 8,458 709 9,167 7 Governance and SupportC05ts 8ank Charges offi￿ Equipment and Supplies Legal and Professional 1.980 2,297 8.950 13,227 1.984 2.633 2,297 8,950 13,227 5.814 13 CARMELtrE MONASTERY NOTESTOTHE ACCoU147S￿ AT 31ST DECEMBER 2028 8 Investments Current Year2023 B/Fwd Added Sold ProfltllLoss CIFwd Investec Portfollo 1,564,782 154,778 184,842 62,562 L597,280 1.564,782 154,778 184,842 62,562 1.597,280 Prlor Year 2022 B/Fwd Added Sold Profitl Loss Investec Portfollo L770,521 34,373 37259 1202,8531 1.564,782 1.770,521 34,373 37,259 1202,8531 1.564,782 ZOZ3 2022 Unrestricted Restrlcred Total Totsl 9 Currènt assèts Natwest Current Account Investec Capltsl Cash Account 3S2.619 27,972 3S2.619 27,972 394,052 5,606 380.591 380,591 399,658 10 Current Uabllltes Loan from Carmelite5 1,545.184 L545,184 1,602,931 1.545.184 L545.184 1,601931 11 Acuua15 and deferred Income Accruals 874 874 12 CharSty Funds rrent Year 2023 8IFwd Income Ex ndlture Revaluatlon Unrestrlcted Funds 360,635 184,139 1168,9231 1168,9231 55,994 43L84S 360.635 184.139 55,994 431,845 Prlor Year 2022 BIFwd Incorne Ex ndltur• RevaluatloTh Unrestrtcted Funds 389,198 158,144 1186,7071 1186,707) 360,635 389,198 158.144 360,635 13 Trustees. Expenses and Related PartyTransartlons The trustees are members of the Carrnelite Or4anisatlon. which has loaned money to the Charity12023: £1.545,184. 2022= £1.602.9311.Thére is no interest ¢harged oft the10on, and no benefitto the Cam)elite organisatiort or its partlcipants have been derived from bt. Where a transartion's benèfits have been derived both by the Charity and the Tru5tee5 lor connerted parti¢ipantsl, these benefits are apportioned on a fair basis be￿een the partles such that there should be no net benefit between the parties. 14