CHARrfY REQISTRATION NUMBER: 1170563 The Oratory Of Saint Philip Neri at Cardlff Financial Statements 30 June 2024 The Oratory Of Saint Phlllp Neri at Cardiff Flmncial Stat•m•nts Y￿r endod 30 Jun• 2024 Page Trustee8' annual report Independent examinerfs report to the rnemb8r8 ststement of financial activities (includino income and expenditure account) Statement of financial position Note8 to the financial staternents 9-13 THE ORATORY OF SAINT PHILIP NERI AT CARDIFF Tru#to•8' Annual Roport Year endod 30 June 2024 The trustees pre￿ thgir r•port and t￿ financial statements of the charlty for the year ended 30 June 2024. R•f•ronc• and admlnl8tratlv• d•tall8 R•gl•tsr•d ¢harlty nam• Rogl•tsr•d Ch•rlty Numb•r Prfnclpal off*• and Mglthrnd The Oratory 01 Salnt Philip Nari at Cardlff 1170563 SL Albans Presbytery Cameron Street Cardlff CF24 2NX Rev Sebastlan Joneg 8ro IIW Williams Mr Slmon Car8 Rev Alexander Geé Dr D￿d Wooll The Vory R8verend19naliu8 Harrlson A¢eountant Able Consulting Servke5 Llmlted 2 Ferny C￿rt Penylan Card CF23 9BU THE ORATORY OF SAINT PHILIP NERI AT CARDIFF Tnmt0￿. Annual Report (gwtlnu¢dJ Year •ndod 31 Dec•mlJer 2024 Structur•. governan￿. and managernent Govornlng DoGUm•nt The organization 18 a Ragi8tered Charity. Th8 charity was established with a Trust deed dalod 01 November 2016 All members of th• Management Ccrfnmlttee gtve thelr tlme Yoluntarfly and ￿e1Ve no benefts fft)m th8 Tru•t•• Inducllon and Ir41nlng TrE*tts8 arn alr•ady famlliar with the w8Ctral w￿k of the charty. Addltlonalty. new InMtee8 aR advlsed ot. Th obligations of Manag8m•nt Commlttee members Cl T￿ main documents that set out the opwath)nal framework for the cMrlty Indude the Mernornndum and ArtiGles O Re8ourclw and the curront flnanclal p￿I￿on as let out In the latest publlshed a0¢￿nts and quarterly marwmont rwrt5, FU￿re and oblectfv88. Orpanl•atlonal *tru¢tuY• The Charlty18 governed by Its TfU8tee$, m•ot regulafly to revlew all AsxKiation affairn. Key manag•m•nt Y•muneratlon Thè board of Trustees are Cons￿8r8d to be the key management personnel of Ihe Charfty. Detalls of payments talfrom Trusleeg are d15clo8ed in note 15 lo the accounts. Payments to key management personnel are glven In nola 14. The level of payment made to all key m￿ageMent personn•l 1$ revlthyed annualty by tho Trustees. Poltcy 8tst•m•nL Our ¢ommltrMnt The Qratory of St Phlllp Nerl at Cardlff18 commltt•J to the rnsponslble Identifkatian and managornent of ri8ks which may ari88 during ts delivery of 88rvke8 and the genera manag•ff* of the charlty. Specmcally. we wlll rel￿ r5sk annually al Managemert me￿￿9. THE ORATORY OF SAINT PHILIP NERI AT CARDIFF TnMtse8' Annual R•port (eonUmv6 Y•ar •nd&d 30 Juno 2024 ObJ•ctlv•8 and actlvltles Purpo8eo and alm8 The obJeGts of ts Trust are. by such means as are charitable, lo promote and advance the Roman Cathollc Faith and Roman Catholic cha￿bIe in8titutlons and in particukqr to promote the cttarttable work for the time bolng carrf8d on promoled CY supported by the Congregafjon ￿nanGlaIty and othor¥*ise provvjed that if the CorKJregalon 8h811 cea88 to 8Xi8t or to carry on promote or support any Gharftable purp05e8 in c¢xnection wlh the Roman Calhollc Rellgion as the Trustees shall In thelr discretM>n thlnk The Oraioriw cowfflunty has liv￿1 and ex8￿16ed Its Roman Cathollc Wornhip. pastoral care, 8odal welfare outreach, ¢ommitrnent to te&hing and lear￿n9 and the devebpment of adult and young person$, ed￿tional courses, 86 well 88 Ot￿r work¥ of mercy at this prowty. The obJecb'v88 of the Tru31 Doed have been carrfed out On a pernianant ba818 and ccnforni trj tho Constkullons of th• Oratorte8 of St Philip Neri the govemlng d0￿ments in Ihe Canon Law of the Roman Cathollc Church work8 of charfty. The restoration, renovatlon, and m8nagem8nt of tho prop&11￿ $0 as to be ccffipllant with Health & Safety leglslalon and the developlng work8 of ch&rty of the Oratory has boen a major ' focus of Ihe Trust808 in th8188t twelve months. The upgrading of exlsJng bulldings and the Oratorian communW8 ongolng COMMItr￿nt to the charltabla alms and ¢bJects of the Trust continue to ￿ of paramount importance. The Tru5t8es havfj undortakon wery rea80nab￿ rne￿S to insulats the Trust against rf8k In Ihe care of Its propertle8 and the training of its memb8r8. The un¢erfAlntie6 in financial dlm*e may hav8 an Impact up)n chafltable glving. But thls has not been a risk to date. The results for year and the charity's finanGlal poslfjon at the end of the y￿r are shown in the attached finanthl 818tements. THE ORATORY OF SAINT PHILIP NERI AT CARDIFF Trust￿6, Annual Roport Year •nd•d 30 June 2024 TNE TRusfEES The Trustees who served the charlty durin8 the year were as follow5: . Rev Sebastlan Jones Bro Illtyd Wllllams Mr Slmon Care Rev Alexander Gee Dr Davld Woolf The Very Reverend18natlus Harrlson THE ORATORY OF SAINT PHILIP NERI AT CARDIFF TnMt••s' Annual Rèport (conthu Ymr •nd•d 30 Jun• 2024 Fln•nclal r•vl Th• charity's total in¢om¢ for tho year amounted to £504,514 (2023 - £70,297). There was £450,000 re8trlcted incom? for the year. Any unspent revenue incom is carried foThYard to next year, a8 at 30 June 2024, re8trkted ro8erve$ were £450.000. The tolal unrestrkted funds at the year*nd rewesent the charlty's r&%erves and amounted to£ 1S,783 (2023 £70,297). R•wrvM po15¢y In the tru8ts8s' V￿￿, the reserves should provldo the charity wlth adequate financthl staNlky and the means for it to meèt it8 chariiable objactlv•8 lor the foreseeable fU￿re. The trusta89 wlll revlew the amount ol reserv88 that aro requked to erAure Ihat tlw are adequate to fuffill th8 Ghailty8 continury obllgatlons on a rogular bas's. Golng eoneéffl HavlNJ c¢)nsldered budgets for the next twelve months, th8 Trustees are f>)nfKlent that the Chwity wlll ¢￿tinUe to maet Its Mabllltlel as they fall du6 for the for880oabla fu￿rn 8nd con8ider that th8re ar? no materlal unCertaIn￿88 about Its ablllty to continue as a golrq concom. It is theraforn consldered approprfate by iho TnJsi•e8 to pre￿re the finanGlal statements on a going ¢on¢ern basis. Trusto08' mponglbllttlK stat•m•nt The trustees ar¢ responsible for preparlTrJ the trust8es' report and the flnandal statements In accordance wlth appllcable law and United Kingdom AccountirYJ Standard8 (Unlted Klngdom Genwalty Accepted Accountlng Practlc•). Company law requlrns the charlty InKtee8 to prepare financlal Statements lor each yèar whkh give and falr vivw ol state of affalr8 of the ¢harftabie compony and tho incoming re8ourco8 and appllcatbn of rescur¢es, Includlng the Inc¢me and expenditure, for that parfod. In pr•parlng th880 financlal 8tst8ments, trusteos arn wuirod to". sel¢Gt Sullable acwjnung policies and then apply them conststently; o ob8wve fv m•thods and prlndple• in the applicabl• cha￿kn SORP; make Judgmants and accountlng ￿tIMate$ that are r•a8onable and pruden(. prepare the fjnancl818tst8ments on going c¢)ncem basis unless it is inappropriate to we8um• that th charity will cc￿lInue in bu8in8s8. Tha trusteos, annual rnportwa8 approved on . .. llic Very Rcvercnd fr. se￿￿1￿1 M. Jonc5 Chairperson . Zsand siqned on bèhall of the board of trusta6s by: 01.1_ ,.1,,- THE ORATORY OF SAINT PHILIP NERI AT CARDIFF Y••r•ndod 30 2024 l on th• wxwnt• olth• cha* kr the •nded 30 JLm• 2024 sgt outon p•ge• g to 10 audlt 18 not req￿ ky IN• Ur￿￿1 88CIkn 144 of th8 Chath Ac* 2011 and trAt an •yArnln• tho a(xounts und•r 4e¢llon 145 01 2011 A follw the prncadw# iald In tho I3￿ra1 Dlrackn• glv8n by ts Cl• Comml•okJn uTr1er 8ecikn 145(5) ofthfr 2011 lfy •xomlnrf¢n carrffjd thè Gmal fxredlom by th• Charlly ConMls•lorn An kndudej a r•vlw al tha r•cord• kopt by tho and a cthTrF*l•on ol the ac¢ounts wlth thc48 It •kno In￿de0 CGn•klerntknn ol •ry s￿h mattwj. The proc•Jurw underlak•n do not provkle all tho evlderKe wvuld b• requlrnd In an aud¢ I do not •xprwi OK4nkni ffj *l*th•r th• *x￿nI1 w•Mrt•'ln aTh1 lalr vw. In my •xamlnakn. no rrattw eom• kn my attffiuon: whlth gl¥￿ rrn m8gn•bl• ¢wJM kn beOw• tmt maknrhl rai￿ tho tru•to01 h•v• nrrt met ts rwlr*wts to 20W; and . acc￿￿￿8 arn agr•D wth th? •xMn11ry wxl ffjm￿ wth I (ravknwj 2005}; (2) to whkh, In my oplrlon, atsnuon th(￿Id b• dr•Am In ord•rto a prw urh1w•￿lng of L& Coh•n FCA 2 Fwny c￿1( P*I Card CF23 9BU THE ORATORY OF SAINT PHIUP NERI AT CARDIFF srATEMENf OFMANCIAL AcfiviTIFS I1￿•rPOr•IIllZ the lllco•¢ ¥Aid ￿pendI*llY¢￿t¢fyl1AtJ FOR THE YUR ENDED30 JUY4E 2024 Uoru¢rklal Fun Rtttrki•d Fundi Tol*l Totsl Nott 2024 2013 83,895 19.423 450.1￿Y) 533.895 19,423 99.546 7,778 Refunds- Glft Ald W￿dIn￿. I1￿E￿I8 ft¢i St Akn 9,577 4.4J4 2MO 2.465 122.444 9,577 4.454 1630 1465 J72.444 13.182 7,oas IAJJ 545 Sth of EIEL%ric T•tsl IDcomln8 RMouYt¢• 450,000 130.691 At￿llY¢￿ Expettd cthi¢rnv￿ CogtS Cb¥1￿1¢ A¢tivities Totsl Rtstsurv• ExyDde41 4,240 133,987 131,227 4.240 133.987 138,227 1276 171248 172,$24 ]¥¢t (ou*oSll¥ylnc•rnlii ru•urt¢i tor th¢ yar and net kneotsdqexp•Jdltir•) for the ye•r Fi•th brDU8h¢ ftsrw•vd F#•th ¢*vrkd f•rw*vd .15.783 70.297 54J14 450,000 434217 70297 504.514 41.833 112,130 70.297 430.01)0 THE ORA TORY OF SAINT PHILIP NERI A T CARDIFF TEM£wf OF FINANCIAL ACTJVITIES (IDtorporatlM8 the kneome expudi￿re a¢¢Trunt) FOR THE YEAR ENDED 30 JUNE 2024 No 2024 1023 Cmrrnit Asxts Cwb 4¢ Bank 509,814 509.814 5,299 70297 70297 CrdltoY&" Amou*ts falllllg du• wlthth on• year N•t Current Assets 504J14 504J14 70297 70297 Totil Awts Currwrt Li*blll N•t A#¢¢• 504J14 70297 Gehertl Unrtstrlc*d Funds R¢strk4ed Funds 54,514 450,000 504,514 70297 70297 ThE ORATORY OF SAINT PHILIP NERI AT CARDIFF Notes to the Flnanclal Statements Year •ndod 30 Jun• 2024 A￿DuD￿ng pollciej Basts •J•eeuTrdn8- The financial stalements have been pr¢pared WKl¢r th¢ historical ¢0* Mnvenlion Cathflow sl*i¢iiffnt- The Trnstees have taken ￿Vantage of the ¢x¢rnption in Financial Rewrtin8 Standard No. l from includin8 a cash flow statement on tho 8round5 that the compfiny is 5mill. Imeomtht resowces- All I￿OmIng resources alt Teco8nised vAKn re¢efvable and wlkn all ¢onditiow for receipi have been met. No expenditure has be¢Tr rtted off in¢omin8 resources in the Statement of Financial Aclivitie& Reso¥rnex Lypend￿- c05ts of actlvities in fiwthuance of the charity'5 objocts represeiit those costs Incurred dire£tly in ¢onne¢tlon with ¢hariuble activities. Mana8ement orKI *JThinisiiation costs ¢omprlse wsts Sociat￿ with mana8in8 and thinisteriftg the charity and include an approprlare apportionment of ov¢rh¢ads. Fands Ill￿141¢- unre*1￿ thnds are those avallabk for gen¢rnl use by th¢ Ch￿lty. Deslgft*d fimds are unrestricted limd$ which hav¢ been set uide by the Trustees for specifi¢ puJpoJc& Restricted fimds are th where the donor has Imposed r¢strlrAions on thelr use. The nattwe and pwp05e of each fvnd is sel out In note 8. THE ORATORY OF SAINT PHILIP NERI AT CARDIFF Balance Sheet (Conllnued Y•ar •ndéd 30 Jun• 2024 The tntstses are utlsfi¢d Ihe company is etttlt]¢d to ¢xemp¢ion from ihe requirernent to obtain an audit undez ie¢tion 477 of the Componies Acl 2006 that members have no¢ required the ¢omp#ny to obtain an audit in ordance with ￿lon 476 of the A¢L Th• Trust￿ thowI￿ge their ￿8p￿￿1￿1]itie￿ for eomplying with the r¢quir¢ments of complying with respe