ST BENEDICT'S CENTRE Financlal Statements Fortho year ended 31 Do¢¢mber 2021 Registered rnPany number.. 10197485 Registered Charity number.. 1172320
ST BENEDICT'S CENTRE TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 TABLE OF CONTENTS Page Reference and administrative details Trustees, report Indep8ndent Auditorfs Report statement of Financial Activities Balance Sheet statement of Cash Flows Notes to the Financial Statements 10-13
ST BENEDICT'S CENTRE TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 REFERENCE AND ADMINISTRATIVE DETAILS Rgglst¢red charlty numbgr (England & Walesl: 1172320 Reglstered company number 10197485 (England & Walos): Registerod Office: 52. Swan Street West Malling ME 19 6JX TTUStQg5: The dire¢lors of the charitable company (the charity) are its trustees for the purpose of charity law. The trustees and officers setving during the year and since the year end were as fo51ows.' The Very Revd Dr R Willis {Chair) P Banks Dr K Clarke The Rev Cannon C Dench The Rt Revd Dr L Green MGirt The Rl Revd J Langstaff (resigned 31 July 2021} BankOTS: Natwest 43 Swan Street West Malling Kent ME19 6HF Independent Auditor. Haysmacintyre LLP 10 Queen Street Place London EC4R 1AG
ST BENEDICT'S CENTRE TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 TRUSTEES, REPORT The trustees are pleased to present their annual direclors, report together with the financial statements of the charlty for the year ending 31 December 2021 which are also prepared lo meet the requirement8 for a direclors, report and accounts for Companies Act purposes. The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and Accounting and Reporting by Ch?rities'. Slalement of Recommènded Practice appli¢8ble lo Charities preparing their accounts in accordance wllh the Flnancial Reporting Standard applicabl8 in the UK and Republ1¢ of Ireland (FRS 102) (Second Edition, effe¢live 1 January 20191. ObJectlve8 and actlvltles The charity'8 objects are the advanGemenl of the Christian faith for the publiG benefit in particular, but not exclusively, by providing and establishlng a training and retreat Cent in the area of Malling Abbey for the local communty. situated within the grounds of Malling Abbey the St Benedicvs Centre welcomes individuals and groups se8king a place to rest, retreat, study, create, meet andlor work. Malling Abbey is home lo a Gommunity of Anglican Benedictine Nuns who continue to embody the Rule of St Benedict in their daily rhythms of prayer, worship. work and study. The Sl Benedict's Centre is an exciting collaboration beeen the Benedictlne Community at Malling Abbey and the Diocese of Rochester. Opened in 2016. the newly developed centr8, using the Guest House. the Western Range and the Pilgrlm Chapel has well equipped spaces for those wanting personal or profe5sion?I space and for groups of up to 50 people. The St Benedict'5 Centre is also home to the St Augustine's College of Theology and is a Diocese of Roohesler tralnlng location for the Bishop's Certificate in Foundation for Christian Ministry. Licensed Lay Ministry and Conlinuing Ministerial Development training. Following the Benedictine Iraditlon of hospitslity we endeavour to offer a warm, whole hearted and sincere welcome to all our guests and those enquiring about the St Benedicl's Centre and Malling Abbey. Sl Benedict sald. All guests who present themselves are lo be welcomed a5 ChrisL for he himself will say: I was a slran9er and you welcomed m8., Rule of Sl Benedict 53..1 Al the St Benedict'5 Centre, in our close relationship with the BenediGtine Community al Malling Abbey, we are eager to reflect the rhythm and pattern of Benedictine community life in and through our hospitality and programme. The Trustee$ have had regard to the Charity Commission's guidance on public benefit and are satisfied that the acts'vilies of the charity in the year have furthered the charity's purposes for the public benefit.
ST BENEDICT'S CENTRE TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 TRUSTEES, REPORT (CONTINUED) Achlevem•nts and Performan¢e Sl Benedicvs Cenlre closed durin9 the Covid pandemi¢ lockdown and reopened to groups in March 2021. The opening was gradual. allowin9 individual guests lo continue lo feel safe. The first groups back were the Rochester Diocesan lay formation students. St Augu51ine's College remained teaching online. The Centre offered a limlted programme of events and welcomed back some regular groups. In April we offered a Triduum providing ways for people to creatNely engage with the events of Maundy Thursday to Easter Day, whi¢h was well received. We offered space for some individuals to deliver counselling services wllhin the ethos of the Centre. We Gontinued to follow governm8nl guidelines in respect of safety. In September of 2021 we launched a new programme with ? mind to test this for a year to see which ev8nts would generate interest. The programme will run to the end of the QUTf8nt year and plans are in place to develop and modify in the light of learning The Trustees asked the Director to extend the interim arrangement for another year. lo help the Trustees determine what skills and competencies they required in a Director going forward and with upcoming changes at trustee level. In November the Trustees appointed a part time Bursar. This had an immediate posrtive impact. allowing the Centre to take more responsibility for financial processes and not to rely on the Diocese for support. The Centre remains grateful for the oversight support from the Diocese. Work continued on the bank mandate during the year. In December we launched a mid-week Eucharist in the Pilgrim chapel offered for all guests includlng those slaying at the Abbey. We have three priests who rotate in taking the service. Numbers tluctuale depending on the numb8r of peopb on site. The service is greatly appreciated by our guests. During Ihls period of development the Centre has been very grateful for the work of volunteers. Some offer hospitality lo groups and care of the buiklings. One volunteer has taken on the Gare of communication and pUbllty which has extended our reach. The Centre continues to use its own communication channels and liaise closely with Ih05e provided by Ro¢hesler Diocese. The Centre continues to have a very close working relationship with the Benedictlne Community of Sisters who Ilve on site. During the past year we have begun a series of Benedictine Wisdom days. Members of the community have attended, and In some cases contributed, lo the preparation. This series will continue. The Trustee body meets four times a year exercising 5tralegi¢ responsibility for the Centre 8nd ceiVe5 monthly reports f¥om the Director. The Management Group provides operalional advice and support, meeting every 6-8 weeks.
ST BENEDICT'S CENTRE TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 TRUSTEES. REPORT {CONTINUEOI Flnancial r•vlew In the financial year the char'ty genorate(J income of £64,109 {2020.' £1,165,076). Of this income, £15,507 {2020.' £13,726) related lo charitable activities, being retreat house bookings by both individua15 and groups and £18,96812020.' £9,248) to rental and license fees. The Charity also received donalionslgrants totalling £29,63412020'. £1,142,102) during the year. Totsl expenditure in the year was £58,18512020: £103,227). All gxpenditur8 related lo charitable activities. The charity does not have strIcted funds. Al 31 December 2021 the charity had unrestricted fvnds of £1,143,92612020'. 1.138,002} and cash balances of £102,49212020'. £113,107). structur8¥govemanco and management The Sl Benedi¢V's Centre is a company limited by guarantee loompany number 101974851 and was incorporated on 24 March 2016. It is govemed by ils Memorandun and Articles of Association dated 24 March 2016. It Is a registered charity with the Charity Commission. Appointment of Trustees The Board of Trustees of the St Benedi¢t's Centre Comprises 7 membeTS who meet at least four times a year to review operations and strategic direction. With the exception of the Chair, the remalning 4 founding trustees are appointed by virtue of the office they hold.
ST BENEDICT'S CENTRE TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 310ECEMBER 2021 TRUSTEES. REPORT ICONTINUED) Trustoe8' responsibllltles in relatlon to the financlal statements The charty trustees (who a also the directors of the MpanY for the purposes of company law} are responsible for preparing a trustees, annual report and finanGlal statements In accordance with applicable law and United Kingdom Accountlng Standards {Uniled Kingdom Generally Accepted Accounting Praclicel. Company law requires the charity trustees to prepare financlal statements for each year which give a true arsd falr v¢ew of the stale of affairs of the charitable company and the group and of the incoming resources and application of Tesources, Including the income and expenditure, of the charitable group for that period. In preparing the financial statem8nts, the trustees are required to.. selgcl suitable accounting poli¢ies and then apply them consistently., observe the methods and principles in the Charities SORP: make judgements and estimates that are reasonable and prudent., stale whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements- prepare the financial slalemenls on the going concern basis unless it is inappropriale to presume that the charity will continue in business. The trustees are responsible for keeping proper accounting records that disclose with reasonab accuracy at any lime the financial position of Ihe charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and the group and henoe tsking reasonable stsps for the prevention and detection of fraud and other irregularities. The trustees are responsible for the malntenance and integrity of the corporate and financi81 information included on the charitable companls website. Legislation in the United Kingdom governlng the preparation and disseminatlon of financial ststements may differ from legi51alion in other jurlsdictions. Provislon of informatlon to audltors So far as ea¢h of the Trustees at the time the report is approve(l are aware.. .there Is no relevant audit information of which Ihe auditors arg unaware and, .Ihey have tsken all the steps they ought to have taken lo make themselve$ aware of any relevant audf( informab'on, and to establish that the auditor5 are aware of that information. Approved by order of the board of Truslees: MGirt TTU5tee Date.. 27 September 2022
ST BENEDICT'S CENTRE TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ST BENEDICT'S CENTRE I report to the Trustees on my examination of the financial statements of Sl Benedicvs Centre for the year ended 31 December 2021 which comprise the Slalemenl of Financial AGb'vilies, the Balance Sheet and the related notes. Rospe¢tive responglblllties of trustees and examingr The trustees (who are also the directors of the company for the purposes of company lawl are responslble for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 1.the 2006 ACY'I. The trustees are satisfied that an audit is not required for this year under section 144121 of the Charitles Act 2011 {the 2011 Acll and have Ghosen instead lo have an Independent examination. I roport in respect of my examination of the charills accounts as Carrled out under section 145 of the 2011 Act. In carrying out the examination I have followed the requ1Ments of the applicable Dlrections given by the Charity Commlssion under seGlion 14515llb} of the 2011 Act. Independent examlner's Statement I confirm that l am qualified lo undertake the examination because l am a registered member of the Institute of Chartered Accountants of England and Wales which is one of the list bodies. I have completed my examination. I confirm that no matters have come to my attention g[n9 me cause to believe that in any material respect.. fj. Accountin9 records were not kept in respect of the Company as required by section 130 of the 2011 Act., or 2.The accounts do nol accord with those records,. or 3. The accounts do not compty wlh the applicable requirements concernlng the fomi and content of accounts sel out in the Charities {Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examinallon. I have no Goncerns and have come across no other matters in connection with the examination lo which attention should be drawn in this report in order to enable a proper understanding of the accounts lo be reached. Jane Askew, Senior Statutory Audltor Haysmacintyre LLP Statutory Auditor 10 Queen Street Place London EC4R 1AG Date.. 27 September 2022
ST BENEDICTS CENTRE TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST DECEMBER 2021 2021 nreslricted Restricted 2021 2020 Noles Restated INCOME FROM: Donations and grants Charitable activities - retreat house bookings Charitable activities - rental and license fees 29,634 29,634 15.507 18,8 1,142,102 13,726 9.248 15,507 18,968 TOTAL INCOME 34.475 29,634 64,109 1,165.076 EXPENDITURE ON: Raising funds Charitable activities 28.551 29,634 58,185 103,227 TOTAL EXPENDITURE 28,551 29,634 58.185 103,227 NET INCOMEI (EXPENDITURE) 5,924 5,924 1.061,849 FUNDS BROUGHT FORWARD AT 1 JANUARY 10 1,138,IX12 1,138.002 76,153 FUNDS CARRIED FORWARD AT 31 DECEMBER 10 1,143,926 1.143,926 1,138,002 The notes on pages 10 to 13 form part of these financi81 statem8nts
ST BENEDICT'S CENTRE TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31TH DECEMBER 2021 BALANCE SHEET AS AT 31TH DECEMBER 2021 COMPANY NUMBER: 10197485 2021 20 Notes Restated FIXED ASSETS Tangible Asset8 1,003,005 CURRENT ASSETS Debtors Cash at Bank 73,B63 102.492 91,854 113 107 176,355 204,961 CREDITORS Amounts Falling Within One Year NET CURRENT ASSETS 35,434 69,964 140,921 134,997 TOTAL ASSETS LESS CURRENT LIABILITIES 1 143,926 1,138,002 CREDITORS Amounts Falling Due After One Year NET ASSETS 1.143 926 1,138,002 CAPITAL AND RESERVES Unrestricted Reserves 1.143,926 1.138,002 The directors consider that the ¢ompany Is entitled to exemption from the requirement lo have an audlt under the provisions of Section 477 of the Companies Act 2006 for the year ended 31 st December 2021. These 8¢counts have been prepared and delivered in accordance with the small charity provisions. The members have not required the company to oblain an audit of its financial statements for the year ended 31st December 2021 in a¢cordance with Sectlon 476 of the Companies Act 2006. The directors a¢knoedge their responsibilile8 for: la} ensuring the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and Ibl preparing financial statements which give a true and fair view of the state of affairs of the company as al the end of each financial year and of its profil or loss for each financial year in accordance with the quiremenls of Sections 394 and 395 and which otherwise comply with the requirements of the Comp8nies Act 2006 relating to financial statements, so far as applicable to the company. The financlal statements whlch have been prepared in accordance with the special provisions relating lo companies subject to the small companies re9ime within Part 15 of the Companies Act 2006 were approved by the Board and are signed on its behalf. M Girt, Truste8 Dale 27 September 2022 The notes on pages 10 10 13 form part of these fi'nancial statements
ST BENEDICT'S CENTRE TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021 STATEMENT OF CASH FLOWS 2021 2020 Notes Restated Net Gash provided by operating activiligs 110,615) 10,304 Cash and cash equivalents al the beginning of the year 113,107 102,803 Cash and cash equivalents at the gnd of tho year 102.492 113,107 A: Reconclllatlon of not movement In funds lo net cash flow from operatlng actlvltles 2021 2020 Nel income l {8xpendrture) Decrease in debtors In¢reaselldecrease) in dI(08 5,924 17,991 {34,5301 1,061,849 46,237 1fj.097,7821 Net Ga$h provlded by operatlng a¢tlvltles 10,304
ST BENEDICT'S CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2021 1. ACCOUNTING POLICIES The principal accounting policies adopted in the preparation of the financial statements are as follows.. Ba$ls of prgparallon The linan¢1al statements have been prepared in accordance with Ac¢ounling and Reporting by Charitles.. Statement of Recommended Practice appllcable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ir81and IFRS 1021 (Second Edition, effective 1 January 20191- Icharits'es SORP IFRS 102}}. the Flnancial Reporting Stsndard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006. St Benedicf s Centre meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised al historical ccsl or transaclion value unless olheMise slated in the relevant accounting policy notelsl. Income All income 1$ accounted for when there 15 evidence of entitlement, the income is MeaSUable and receipt is probable. Exp&ndltur• All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related lo the category. Flnanclal Instrument8 The charitsble company only has financial assets and financial liabilities of a kind that qualify as basic financlal instruments. Basic financial instruments are initlally recognised at transaction value and subsequenlly measured at their selllement value. Debtor8 Debtors are recognised at the Settlement amount due. Prepayments are valued at the amount prepaid net of any trade discounts due. Cash at bank and In hand Cash at bank and cash in hand includes cash and short term liquid investments in current and deposlt accounts. Credltors and provlslons Creditors and provisions are recognised where the charlty has a present obligation Tesulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can bo rneasud or estimated reliably. Preparatlon of the accounts on a golng concorn basls The trustees conslder there are no material uncertaintles about the Charity's ability to ¢ontinue as a going concern. The review of our financial position, reserves levels and future plans gives Trustees onfidence the charity remains a going concern for the foreseeable future. Prlor Perlod Adjustment The prior year financial statements have been restated lo correct the VAT debtor due from HMRC under the Capital Goods S¢heme and lo ineorporate a creditor due to the Rochester Diocesan Society and Board of Finance. The nel effect of these aéjuslments can be seen in Note 11. 10
ST BENEOICT'S CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2021 1. ACCOUNTING POLICIES ICONTINUEDI Tangible Flxod Assets and Depreclatlon Tangible fSxed a5sels are stated at cost. No depreciation has been provided on the Companls freehold premises.11 is the Company's polioy to maintain Ihls asset in a continual stale of sound repair and lo make improvements thereto from lime lo time. Accordingly the Company considers that the lif8 of this assel and its residual value (based on prices prevailing al the lime of the a¢quislior151 are such that their depreciation is insignificant. This departure from the requlrement5 Of the Companies act 2006. for all properties lo be depreciaied, is, in tho opinion of the directors, necessary for the financial statements to give a true and fair view as freehold properties are included in the finanancial slalements at th8ir open market values. 2. OPERATING PROFIT The Operating Profit is ststed after charging.. 2021 2020 Depreciation 3. DONATIONS AND GRANTS 2021 re Iricted 2021 slricled 2021 Rochester Diocesan and Society Board of Finance Other grants and donations 1,108,005 34,097 1,142.102 29,634 29,634 29,634 29,634 4. TAXATION Analy$l8 ofthe Tax Charge The tax ¢har9e on the profit on ordinary activities for the year w85 a5 follows.. 2020 Current Tax.. UK Corporation Tax Tax on Prof51 on Ordin8ry Activities 5. STAFF COSTS AND RELATED PARTY TRANSACTIONS The average number of employees irs the year was 1 {2020'. 11. Totsl staff costs were £2,55612020- £36,590). 2021 staff c051s includes teminalion payments of £nil {2020'. £29,387). No trustees received reimbursement of expenditure In the year (2020.. none). No trustees are remunerated for their roles. 11
ST BENEDICTS CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2021 6. Anatysls of Gharltable oxpenditurè 202 2020 SalaTies Cleaning and gardening Rates Utilities Communlcations Maintenance Miscellaneous Refreshments Management costs Slalionery and office cos15 Professional fees 2.556 10,466 5,120 9,085 7.755 2,354 13,978 1,109 465 347 4,950 36,590 1,636 5.662 8,176 12,011 1,550 35,962 1,013 189 373 65 103,227 7. TANGIBLE FIXED ASSErs Pro COST At 1 January 2021 1,003,005 NET BOOKVALUE At 31st December 2020 1.003,005 At 31st December 2021 1,003.005 At the Balance Sheet dale the gross amount of assets held by the Company was £1.003,005 These a88ets were acquired for redevelopment with a view to create a worship centre and community facility. An incidental consequgrsce of the ownership of these assets. prior to the development stage, is the generation of rental income from part of these assets. The directors do not consider that any part of the assel conslitules an investment property and they are unable to separate from the whole portKJn of cost relating to the income generating asset. 8. DEBTORS: Amoun1$ Falling Due Wlthln Ong Year 2021 2020 Restat d Trade debtors VAT Deblorg 381 73,482 8,125 83,729 73.863 91.854 12
ST BENEDICT'S CENTRE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2021 9. CREDITORS: Amounts Falling Dug Wlthin One Year 202 Restated AG¢ruals VAT Rochester Di0san Society & Board of Finance 4.036 42.457 6,575 20,932 69.964 31.398 35,434 10. RESERVES 2021 2021 Iricl8d Re ricted fun fund 021 Un restricted re reserv Restated At 1 January 1,138,D02 1,138,002 76,153 Income 34,475 29,634 64,109 1,165,076 Expenditure 28,551 29,634 58,185 103,227 As al 31st December 1.143,926 1.143,926 1,138,002 In 2021 the restricted fund related io grants recelved towards staff ¢osls. 11. PRIOR PERIOD ADJUSTMENT 20 Ori 20 tme 2020 Reslaled Balancg sheet Note VAT Debtor 97,477 {13,748) 83,729 RDSBF Creditor 120,9321 (20,932) 34,680 Statemont of Financial Actlvltles Charitable Expenditure 68,547 34,680 103,227 13