ST JOSEPH'S RETREAT (HIGHGATE) CIO
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31ST DECEMBER 2023
CHARITYCOMMISSION NUMBER:
1173084
Jacob Cavenagh & Skeet
Chartered Accountants
5 Robin Hood Lane
Sutton
Surrey SM12SW

ST JOSEPH'S RETREAT IHIGHGATE) CIO
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31ST DECEMBER 2023
Contents
Reference and Administrative Details
Annual Report
Independent Auditor's Report
Statement of Financial Activities
Balance Sheet
Statement of Cash Flov
Notes to the Accounts
Page
24
10
12
1>19

ST JOSEPH'S RETREAT{HIGHGATE) CIO
REFERENCE ANDADMINISTRATIVE DETAILS
Trustees
Father Terence Anthony Doherty (Resigned 20 February 2024)
Father Miroslaw Lesiecki
Father George Kolothumveettil Antony
Sister Mary Philomena Bowers
Father Paul Francis Spencer (Appointed 20 February 20241
Father Thomas Rocky Kanjarathungal (Appointed 20 February 20241
Key Management Personnel
Trustees (see above)
Princlpal address
St Joseph's Retreat. Hohgate Hill,
London N19 SNE
Bankers
HSBC UK Bank plc
Level 6
71 Queen Victoria Street
London
EC4V 4AY
Audltors
Jacob Cavenagh & Skeet
5 Robin Hood Lane
Sutton
Surrey
SM12SW
Solicitors
Sinlons LLP
The Cube, Barrack Road,
Newcastle Upon Tyne, NE4 6D8
Legal Status
The CIO is a registered charity (no. 11730841 gov8rned by a Conslilution.
Page 1

ST JOSEPH'S RETREAT(HIGHGATE) CIO
ANNUAL REPORT
The Trustees of the Charitable Incorporated Organisation {'the CIO.) present their Annual Report and
Financial Slalements for the year ended 31 De￿mber 2023. The accounts are prepared in accordance with
the Accounting Regulations set out under the Charities Act 2011, and with the Charities Statement of
Recommended Practi￿ applicable to charrties preparing accounts in accordance with FRS102.
Structure. governance and management
The name of the CIO is St Joseph's Retreat_(HiAhoate). CIO: It is_registered with the Charity. Commission
Lnumber ! 1730841..
Conslitution
The property of the CIO is vested in a trust, govemed by a declaration of Trust dated 17 May 2017.
The Board set the overarching strategic approach and policy framework within which St Joseph's operates.
The board of IrLSStees meets monthly The Parish pnest with Ihe support of the Finance Committee, Parish
Council and other volunteers carry out the day-to4ay management of the charity.
Appointment and training of Trusl88S
Apart from the first charrty trustees, every trustee must be appointed for a temi of 3 years by a resolution
passed al a properly convened meeting of the charity trustees. In selecting individuals for appointment as
charity trustees, the charrty trustees must have regard to the skills. knowledge and experience needed for the
effective administration of the CIO.
Sl Joseph's has a standard induction and Iraining programme for all new Trustees. This includes meetings
with members of the current and any outgoing members of the Board of Trustees. New trustees will also be
meeting key volunteers and taking part in visits to leam about the work of the Charity. Trustees are
encouraged to take up the opportunity to attend relevant external training courses and conferences.
Key management personnel
The key managemenl personnel of the charity as listed above are responsible for the running of the charity
on a day-lo-day basis. All members give their time freely and no member rerRived any remuneration in the
year, including reimbursement of expenses incurred in the nomial course of the charity's operations.
The pay of all staff is reviewed annually and nonnally in¢￿ased in accordance with average eamings. Pay
awards are benchmarked in line V￿th another similar thanty (the Archdiocese of Southwark).
Risk management
The Trustees believe they are aware of the major risks lo which the charity is exposed and that controls are
in place to mitigate them. A Risk Register is in use and the Trustees aim for robust management oversight.
The Trustees consider the principal risks and uncertainties facing the charity, and the plans and strategies
for managing these risks, to be..
Financial health.. The income for the charity was mainly in the fomi of weekly donations from parishioners. The
reliability of this income is therefore dependant on the level of church attendance. The charity has started to
encourage parishioners to switch from weekly cash donations to monthly bank direct debit transfers thus
improving the reliability of this source of income. A Consernation and Development Committee has also been
set up to oversee income generation.
Financial controls.. The financial systems and controls were set up when St Joseph's was part of the
Congregation of the Passion of Jesus Chnst. As an independent charity, some of these legacy systems and
controls may not no longer be h't for purpose. A financial procedures manual has been agreed. Budget and
reporting system will be introduced. Cloud based accounting is currently being used for financial reporting
purposes.
Page 2

ST JOSEPH'S RETREAT IHIGHGATE) CIO
ANNUAL REPORT Iconlinuedl
Statutory and legal complianc8.' The charity has prioritised reviewing Safeguarding, GDPR and Health &
Safety policies and practices to ensure legal complian￿. Review of policy compliance will become standing
agenda items in both Finance Committee and Parish Council meetings.
Objects and activities
The objects of the CIO are the advan￿ment of religion and education as follows..
'To advance the Christian faith for the public benefrt"
Nothing in thi5 Gonstrtution shall authorise an application of the property of the CIO for the purposes which
are not charitable in accordance with section 7 of the Charities and Trustee Investment {S¢otland) Act 2005
and section 2 of the Charities Act (Northern Ireland) 2008.
Public Benefit
Trustees have had regard lo Charity Commission guidance on public benefit. set out in section 4 of the
Charities Act 2006, and we consider that all our work complies in very tangible ways with the concept of public
benefit. Trustees are convinced the work of its membership fulfils every critena of public benefit and that
significant impact is attained through our direct work and the work we support through other5.
Achievements and porfomianc•
Pastoral Visitation by Bishop Nicholas Hudson: A Testamenl to Our Vibrant Community
The dawn of 2023 was graced by a momentous Pastoral Visitation from Bishop Nicholas Hudson of the
Diocese ofwestminster. This formal occasion, hekl on January 28th and 29th, saw the Bishop immerse
himself in the life of St. Joseph's Community. offering spirrtual guidance, evaluating congregational
needs, and ensuring our alignment wtth dio¢esan and universal church tenets.
Bishop Hudson's report bnmmed with commendations, particularly highlighting our exemplary
"Participatory and Collaboratory model." His conduding remarks resonated deeply, serving as bolh an
endorsement and an en¢ouragement'.
I came away from St. Joseph's impressed by the degree of commitment to collaboration between
priests and people. I found the Pansh to be characterized also by joy. These two èlements owe a great
deal to the leadership given by the clergy I would wholeheartedly congratulate the priests for the spirit
communrty that has been created at St. Joseph's and look forward to seeing it grow from strength to
strength.
Robust Governing Structure
The CIO proudly upholds a robust and dynamic goveming structure that includes the Board of Trustees,
Finance Committee. ConseNalion and Development Committee, Parish Council, and Safeguarding
Committee. This year, the CIO successfully established the Parish Centre Committee, lasked with
streamlining and overseeing the activities and operations of the Parish Centre.
Outreach and Communty Support
Beyond regular parish activities, the CIO extended hearts and efforts through various outreach
programs, particularly for the housebound within and around the parish. Our compassion binds us
together and strengthens our community ts"es.
Page 3

ST JOSEPH'S RETREAT IHIGHGATE) CIO
ANNUAL REPORT (continued)
Food Bank Initiatives
The Food Bank stands as a beacon of hope, offering essential support not only within the parish but
also to numerous other f¢)od banks in the vicinity. This initiative reflects the CIO'S unwavering
commitment to alleviating hunger and supporting those in need.
Lunch Club for the Elderly
This year, the CIO introduced a Lunch Club for the elderly members of our community, made possible
through a collaboration with another charitable organization. This initiative provided not only
nourishment but also companionship and joy for our senior citizens.
Garden Project.. A Tribute to Ecological Stewardship
The Garden Project is a commendable ecological endeavour thal nurtures Mother Earth while fostering
communal bonds. This initiative brings people together, unrted in purpose and care for our environment.
Youth and Health Care Workers.. Acknowledged and Appreciated
The CIO'S programs dedi&7ted to the youth and health care workers have garnered much appreciation.
Through these initiatives, the CIO strive to support and uplift these vital segments of the community,
acknowledging their contributions and addressing their needs.
In conclusion, the year 2023 has been marked by signrficant achievements and a deepening of the CIO'S
communal spirit. The CIO looks for4vard to continuing this trajectory of grovrth. collaboration, and compassion.
The Finance Committee met regularly, overseeing a number of activities and initiatives, including.,
Co-ordination and oversight of the drafting and approval of the Parish CIO Financial report for the
financial year ending 2023
Monitoring and maintenance of the Risk Register to identrfy and manage Risks and Issues
Regular review of finance systems and controls relating to all parish finances and Gift Aid r8cords
Close monitoring of the funding for conservation projects and the progress of work carried out
Introduction of Stripe and Paypal to make it easier for donations to be made.
Flnanclal revlow
The CIO raises the funds which it needs to carry on its activities from y￿thin its own membership and
ongregation. No wider public appeal 1$ made for funds.
The CIO expresses its part in the life of the wider church by making grants lo national and international
Christian organisations and societies with Chnstian aims and objectives compatible V￿th the CIO'S own
charitable purpose.
The CIO is heavily dependent on its membership working as volunteers in all asperts of the CIO'S activities,
many of which run with little or no impact on the CIO'S expenditure. but nevertheless contribute substantially
lo the achievement of the CIO'S objectives.
The financial results for the year, together wth a summary of the accounting policies adopted are sel out in
the accompanying financial statements.
Page 4

STJOSEPH'S RETREAT (HIGHGATE) CIO
ANNUAL REPORT (continued)
Reserves policy
The main source of income for the chartty is voluntary donations. This has been in the fom of weekly
donations from parishioners attending church seNices. The reliability of this income is therefore dependent
on the level of Ghurch attendance_ The charrty has slarted to encourage parishioners to switch from weekly
cash donations to monlhly bank direct debit transfers thus improving the reliability of this source of income.
The Trustees reviewed their reserves policy during the year. The principal nsk to the charity is any unexpected
sudden drop in regular donations leading to unfunded outgoing expenditure. In order to mitigate this risk, the
trustees have agreed that the charity should aim to hold free reserves equivalent to 9 months, unrestricted
expenditure. The free reserves held at 31 Decernber 2023 were £398,031 {2022.' £369,596) against an
expected annual unreslricted expenditure of around £300,000. Restricted income funds were £270.92912022.
£250,917) and designated funds were £9.212,76712022.' £9,222,066}. The policy will be reviewed every year
while the charrty improves the reliability of rts main source of income.
Fundraising
In line with the reporting requirements Included in the Charities Act 2016 the Trustees are pleased to confimi
that all fundraising is done in compliance with best fundraising practice. All fundraising activities follow
traditional methods within the Catholic Church which have been recognised as ethical for many years. During
thè year we did not employ any professional fundraisers. There were no complaints or criticisms during the
year about our fundraising activities.
Plans for thè futur•
We shall continue to focus on addressing priorrties previously Klentffied..
Ongoing review and ¢ontinued improvement of the independent syslems, procedures and policies over
Parish Finances
Ongoing review and monitoring to ensure full Complian￿ bwth all statutory and legal requirements in
carrying out Pansh activities
Ongoing review and monitoring to identrfy ways to establish more secure and reliable income sources
for the Parish
IV. Ongoing review and monitoring of Health and Safety Complian￿ in all parish a¢tivilies, and site
security on the parish grounds
Ongoing review and monitoring to identfy ways to continue to adapt and serve the Parishioners and
the wider community.
Trustees, Responsibililies
The trustees are responsible for preparing the Trustees. Annual Report and the financial statements in
accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally
Accepted Accounting Practice).
The law applicable to charilies in England and Wales requires the trustees to prepare fip.ancial statements
for each financial year which give a true and fair view of the stale of affairs of the charity and of the incoming
resources and application of reSoUr￿S of the charrty for that year. In preparing Ihese financial statements,
the trustees are required to..
select suitable accounting policies and then apply them consistently.,
observe the methods and principles in the Charities SORP.,
make judgments and estimates that are reasonable and prudent.,
stale whether applicable accounting standards have been followed, subject to any material
departures disclosed and explained in the financial statements,. and
prepare the financial statements on the going concem basis unless it is inappropriate to presume that
the charity will continue in business.
Page 5

ST JOSEPH'S RETREAT (HIGHGATE) CIO
ANNUAL REPORT (continued)
The Irustees are responsible for keeping woper accounting records that disclose with reasonable accuracy
at any time the financial position of the charity and enable them to ensure that the financial statements comply
with the Charrties Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the
trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking
reasonable steps for the prevention and detection of fraud and other irregularities.
FOR AND ON BEHALF OF THE TRUSTEES
Father George Kolothumveettil Antony
Ja . 2024
Page 6

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF
ST JOSEPH'S RETREAT IHIGHGATEI CIO
Opinion
We have audited the financial statements of St Joseph's Retreat (Highgate) CIO for the year ended 31
December 2023 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow
Slalemenl and notes to the financial statements, including a summary of significant accounting policies. The
financial reporting framework that has been applied in their preparation is applicable law and United Kingdom
Accounting Standards, including FinanrAal Reporting Standard 102.. The Financial Reporting Standard
applicable in the UK and Republic of Ireland {United Kingdom Generally Arxepted Accounting Practice) The
2020 financial statements were not audited.
In our opinion, the financial statements..
give a true and fair view of the state of the CIO'S affairs as at 31 December 2023 and of its incoming
resources and application of resources for the year then ended,.
have been properly prepared in accordan¢e with United Kingdom Generally Accepled Accounting
Practice.,
have been prepared in accordance vlith the requirements of the Charities Act 2011.
Basis for opinlon
We conducted our audrt in accordance vith Intemational Standards on Auditing (UK) (ISAS (UKII and
applicable law. Our responsibilities under Ihose standards are further des¢ribed in the Auditor's responsibilities
for the audit of Ihe financial statements section of our report. We are independent of the CIO in accordance
with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the
FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance wilh these
requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a
basis for our opinion.
Concluslons relating to going concern
In auditing the financial slalemenls. we have concluded that the CIO'S use of the going concem basis of
accounting in the preparation of the financial statement$ Is appropriate.
Based on the work we have perfomed, we have not identrfied any material uncertainties relating to events or
conditions that, individually or collectively. may cast signrficant doubt on th8 CIO'S ability to continue as a going
concern for a period of at least 12 months from when the financial statements are authonsed for issue.
Our responsibilities and the responsibilities of the CIO wrth ￿spe￿ to going Concem are descnbed in the
relevant seclions of this report.
Other infomiation
The other informalion Comprises the information included in the annual report. including the truslees. report,
other than the financial statements and our auditor's report thereon. The Irustees are responsible for the other
information contained within the annual report. Our opinion on the financial statements does not cover the other
information and. except to the extent otheTrvise explicitly stated in our report. we do not express any form of
assurance conclusion thereon.
Our responsibility is to read the olher information and. in doing so, consider whether the other information is
materially inconsistent with the financial slatemenls or our knowledge oblained in the course of the audit, or
otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material
misstalemenls, we are required to detemine whelher this gives rise to a material misstatement in the financial
statements themselves. If, based on the work we have perfomied, we conclude that there is a material
misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Page 7

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF
STJOSEPH'S RETREAT (HIGHGATE) CIO {conlinued)
Matters on which wo are required to report by exception
In the light of the knowledge and understanding of the CIO and rts environment obtained in the course of the
audit, we have not idenlrfied material misstatements in the trustees, report.
We have nothing to report in respect of the following mattets in relation to whi¢h the Charities Act 2011 requires
us to report lo you rf, in our opinion..
adequate and proper accounting records have not been kept, or retums adequate for our audit have
not been received from branches not visrted by us; or
the financial statements are not in agreement with the accounting records and retums; or
certain disclosures of trustees, remuneration specified by law are not made., or
we have not received all the information and explanations we require for our audrt.
Responsibilities of the trustees
As explained more fully in the trustees, responsibilities statement. the trustees are responsible for the
preparation of the financial statements and for being satisfied that they give a Ifue and fair view, and for such
internal control as they determine is ￿e￿ssary to enable the preparation of financial statements that are free
from material misslatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the CIO'S ability to continuè
as a going concem, disclosing, as applicable, matters related to going Goncern and using the going con¢ern
basis of accounting unless the tnJste8s either intend to liquidate the CIO or to cease operations, or have no
realistic alternative but lo do so.
Audltor's responsibilitiès for the audit of the financial statements
We have been appointed as auditor under section 145 and report in accordan￿ with the Act and relevant
regulations made or having effect thereunder.
Our objectives a￿ to obtain reasonable assurance about whether the financial statements as a whole are free
from malerial misstatement, whether due to fraud or error, and to issu8 an auditor's report that includes our
opinion. Reasonable assurance is a high level of assurance, bul is not a guarantee that an audit conducted in
accordance with ISAS (UK) will always deted a material misstalemenl when it exists. Misstatements can arise
from fraud or error and are Considered material if, individually or in the aggregate. thèy could reasonably b8
expected to influence the 8conornic decisions of users taken on the basis of these financial statements.
The extent to which our procedures are capable of detecting irregularities. including fraud is detailed below..
Based on our understanding of Ihe charity. we identrfied that the principal risks of non-complian￿ with laws
and regulations related to employment. financial reporting legislation and health and safety regulations and we
considered the extent lo which non-compliance might have a material effect on the financial statements. We
also considered those laws and regulations that have a direct impact on the preparation of the financial
statements such as the Charrties Act 2011.
We assessed the su5￿P11b1lItY of the charity's financial statements to malerial misslalemenl. including
obtaining an understanding of how fraud might occur, by making enquiries of management, Considering the
internal Gontrols in place and discussion amongst the engagement team.
We determined that the principal risks were related to management bias in accounting estimates, presentation
of separately disclosed items and management override of controls.
Page 8

INDEPENDENT AUDITOR'S REPORT TO
THE MEMBERS OF
ST JOSEPH'S RETREAT (HIGHGATE) CIO (continuod)
In response lo the risks identified we designed prO￿dureS which included, but were not limited to challenging
significant accounting estimates, agreeing financial statement disclosures to underlying supporting
documentation, identifying and testing journal entn"es. reviewing trustee meeting minutes and evaluating the
charity, intemal controls.
There are inherent limitations in the audit prO￿dureS described above. The more removed that laws and
regulations are from financial transactions, the less likely rt is that we would become aware of non-compliance.
Material misstatements that arise due to fraud Gan be harder to detect than those that arise from error as they
may involve deliberate concealment or collusion.
A further description of our responsibilities for the audit of the financial statements is located on the Financial
Reporting Council's website at". IvNM.frc.org.uklauditorsresponsibilitiesl. This description forms part of our
auditor's report.
Use of our report
This report is made solely to the trustees, as a body. in accordance Part 4 of the Charities (Accounts and
Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the Trustees those
matters we are required to state lo them in an auditor's report and for no other purpose. To the fullest extent
permitted by law, we do not accepl or assume responsibility to anyone other than the Gharsty and the charity's
trustées as a body, for our audrt work. for this report, or for the opinions we have fonned.
Jacob Cavenagh & Skeet
Statutory Audltor
Chartered Accountants
5 Robin Hood Lane
Sutton
Surrey
SM12SW
Dated. ..Is.l.io. l.wi4
Jacob C8venJgh & Skoet is el￿ble for appynlrnenl a$ 8w*ior ol Ihe charity by virtue of its eli￿'b￿lty for Appointment ès a¢￿110r of 8
company urpd&r$gdion 1212 ollhe Companies Act 2W.
Page 9

ooe
o(
3V4
X£ LU

ST JOSEPH'S RETREAT IHIGHGATEI CIO
BALANCE SHEET
AS AT 31ST DECEMBER 2023
2023
2022
Fixed assets
Tangible fixed assets
Investments
9.212.767
9,222,066
9.213,667
9,222,914
Current assets
Stocks
Deblo
Cash al bank and in hand
1.000
72,101
577 007
650,108
45.936
651259
698.195
Credltors.. Amounts falling due
within one year
Net current assets
619
Net assets
Funds
Unrestricted
Designated
398,031
9212 767
369,S96
9 222 066
11
9,610,798
9.591,662
Restricted
10
270 929
Total funds
12
Approvèd by the Trustees on J J nc
2024 and signed on their behalf by..
Father George Kolothumveettil Antony
Page11

ST JOSEPH'S RETREAT IHIGHGATEI CIO
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31ST DECEMBER 2023
2023
2022
Cash provided by operating activities (see
below)
71.301
143.778
Cash flows from investing activltles
Interest and dividends received
Payments to acquire tangible fixed assets
2,951
982
780
Cash provlded by Investlng actlvltles
2.951
202
Net cash inflowl{outtlowl
74.252
143,980
Cash and cash equivalents at 1 January
577.007
433.027
Cash and cash equlvalents at 31 December
651,259
577.007
Cash flows from operatlng actlvltles
Net incorne
Interesl and dividends received shown in
investing activities
Depfecialion
Lossllgain) on revaluation of fixed asset
investments
Decreasel{in¢rease) in debtors
Increasel{decrease) in credilors
39,148
143,084
{2.951)
9,299
(52)
(9821
11,144
53
26,165
(3081
(15,9281
6.407
Cash provlded by operating actlvltles
71,301
143.778
Page 12

ST JOSEPH'S RETREAT {HIGHGATE) CIO
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023
ACCOUNTING POLICIES
The name of the CIO is St Joseph's Retreat IHighgate> CIO. It is registered with the Charity Commission
(number 1173084) The propety of the CIO is vested in a trusl. govemed by a declarab'on of Trust dated
17 May 2017. The CIO'S registered office is Highgate Hill, London N19 SNE.
The principal accounting poliues adopted, judgements and key sources of ests'mats'on uncertainty in the
preparalion of the finanrjal ststements are as follows..
Accounting convention
The financial statements have been prepared under the Charities Act 2011 and in accordance with the
Charities. Slalement of Recommended Practi￿ (Charities SORP IFRS 1021 and Financial Reporting
Slandard 102 {FRS 1021. The finanrjal statements are drawn up on the historical cosl basis of a¢counling.
Sl Joseph's Retreat (Highgatel CIO meets the definitson of a public benefit entity under FRS 102.
Thè financial statemènts are prepared in Steding. which is the fvnctional currency of the CIO. Monetary
amounts in these financial statements are rounded to the nea￿$t pound.
Going Con¢ern
There are no malenal uncertaints'es about the charity's abilrty to continue as a going conc8m.
Income
Voluntsry income and donats'ons (including legaues) are accounled for onee the charity has
entitlement to the income, tt is probable the income will be received and the amount of income
receivable can be reliably measured.
Income from listed investments and sundry income is credited to the Statement of Financial Activities
when re￿1¥able.
Donated assets are recognised at their fair value when received.
Expendlture
Expenditure is accrued as soon as a lialylity is consKlered probable, discounted to present value for
longer term liabilities.
Governance cosls of the Charity include expenditure on compliance with consbtutional, legal and
ststutory requirements. and these have been allocated direcuy to expenditu￿ incurred on charitable
activities.
Flxed Assets
Fixed assets are recognised at cost or fair value when donated. Freehold land is not depreciated. No
depreciation has been tharged for freehold property vthere the residual values are not likely to be
materially less than the carrying values, such that depreciation is immaterial. Other assets are
depreciated over their expected useful lives al the following rates."
Building improvements..
Olher assets..
25°/0 reducing balance
Page13

ST JOSEPH'S RETREAT (HIGHGATEI CIO
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023
ontinued
ACCOUNTING POLICIES (continued)
Fund accounting
The general funds comprise those monies which may be used lowards meeting the charitable objectives of
the Charity at the discreb.on of the Trustees.
Designated funds are the amounts set aside ¢)ut of general funds arKI designated for specific purposes by
the Trustees.
Restricted funds are monies raised for. and their use restricted to, a speufic purpose, or donations received
which are subject to donor imposed conditions.
Debtorn
Sundry debtors are included at the settlement amount due. Prepayments are valued at the amount prepaid.
Cash at bank and In hand
Cash al bank and in hand includes cash and short term highly IiquKI investrnents with a short maturity of
threé months or less from the date of opening of the deposit.
Credltors and provlslons
Creditors and provisions are ￿OgnISed Whe￿ the charty has a Present obligation arising 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 be measured or estimated reliably. Creditors and provisions are recognised at their settlement amount.
Flnanclal Instruments
The charity only has financial assets and liabilrties of a kind that qualify as basic financial instruments. Basic
financial instruments are initsally recognised at transacts'on value and subsequently measured at their
settlement value.
INCOME FROM DONATIONS AND LEGACIES
Un￿StrIcted
Funds
2023
Restrlcted
Funds
2023
Total
Funds
2023
Totsl
Funds
2022
Donations
Tax recoverable
Legacies
217.782
16.299
37.309
4,739
255,091
21,038
414,559
41.121
Page 14

ST JOSEPH'S RETREAT (HIGHGATE) CIO
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023
continued
EXPENDITURE ON CHARITABLE ACTivmES
Unrestricted
Funds
2023
Restricted
Funds
2023
Totsl
Funds
2023
Total
Funds
2022
Pastoral costs
Premises costs
Support costs
Governance costs..
Audit fees
Accountancy Wofk and other fees
.981
88,076
55,974
9.150
13,742
144
100,131
101,818
56.118
91,809
156,981
51,439
6.300
6.300
4,950
3857
SUPPORT COSTS
Unrestrlcted
Funds
2023
Restrfcted
Funds
2023
Total
Funds
2023
T¢)tsl
Funds
2022
Administration
Depreciation
Legal and professional
Travel
38,239
9,299
144
38,383
9,299
25,331
11,144
7.162
436
STAFF AND TRUSTEES
2023
2022
Gross salaries
During the year there were 3 employees12022'. 2). No trustee or member of key management personnel
received remuneration or reimbursement of expenses during the year12022'. nil). No employees received
more than £60,000 remunerats'on.
Page 15

ST JOSEPH'S RETREAT (HIGHGATE) CIO
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023
continued
TANGIBLE FIXED ASSETS
Freehold
land and
buildings
Plant and
machinery
Offlce
equipment
Motor
vehlcles
Total
Cost or falr value when gifted
At 1 January 2023
Additions
9.207.232
12.232
3.924 9,267,772
At 31 December 2023
9 207 232
9 267 772
DepreciatSon
At 1 January 2023
Charge for the year
10,021
25,573
7,429
2.683
45,706
At 31 December 2023
630
55 005
Net booklfalr value
At 31 Dècember 2023
At 31 December 2022
Freehold land and buildings gifted were recognised as at 31 De￿rnber 2018, at the fair value advised by
Nigel Smith FRICS of Smith and Knight Propety Consultsnls.
INVESTMENTS
Llsted Investments
Falr value
Al l January 2023
Revaluation
Al 31 December 2023
52
Carrying amount
Al 31 December 2023
At 31 December 2022
DEBTORS
2023
2022
Tax recoverable
Other debtors and prepayments
9,980
41,074
CREDITORS: Amounts falllng due within one year
2022
2022
Interest free loans
Other creditors and accruals
4,167
5,367
44
Page 16

ST JOSEPH'S RETREAT (HIGHGATE) CIO
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023
ontinued
10 RESTRICTED FUNDS
2023
Brought
forward on 1
Jan 2023
Galnsl
Carrled
(losses) and forward on
transfers 31 Dec 2023
Income Expendlture
100 Club
Cafod and Christian AKI
Cardinal Hume Centre
Chile Fund
Distress Fund
Generalate.. kitchen
refurbishment
Growing in Faith
Haili Fund
India Mission
Other apFeals
Priests. Training
Social Club
SOS Fund
25.182
10.800
(6.028)
29.954
371
140
9,923
371
140
9,923
7,328
26,024
1.340
{ 6,500)
{ 661
828
29,947
1,340
3.989
(3.2Cw))
3,200
9.184
625
9,184
625
2.200
(2.200)
17
2ZQL29
2022
Brought
forward on
1 Jan 2022
Galn81
Carrled
(1￿$6$) and forward on
transfers 31 Dec 2022
Income Expendlture
100 Club
Cafod and Christian
Cardinal Hume Centre
Chile Fund
Distress Fund
Generalate.. kitchen
refurbishment
Growing in Farth
Haiti Fund
India Mission
Other appeals
Priests, Training
Social Club
SOS Fund
59,913
25
371
140
9.923
10,380
{40,000)
25,182
371
140
9.923
11.828
19,140
1,340
1.190
9,184
625
14.500)
( 1251
7.328
26.024
1.340
(2,015)
825
9,184
625
12,500)
207
Page 17

ST JOSEPH'S RETREAT (HIGHGATE) CIO
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023
continued
The purposes of the above restricted income funds are..
100 Club..
Cafod and Christian Aid:
Cardinal Hume Centre..
Chile Fund..
Distress Fund..
G8neralate Fund..
Growing in Faith Fund..
fundraising
specffic collections taken for these charities. ap￿al8
specific offerings taken for this project
support of Chile parish
support of members suffering from financial or physical hardship
for kitchen refurbishment
fundraising scheme with aim of identrfying potential parish donors for
the redecoration and repair of Highgale church
relief for victims of the earthquakes in Haiti
specrfic offerings taken for the construction of a church in Randham
Korattur village
any smaller fundraisiThJ appeals taking place throughout the year
specrfic offerings taken for this appeal
donalions taken by Social Club towards its upkeep
fundraising for repair and renovation works
Haili Appeal..
India Mission..
Oth8r appeals..
Priests, fraining..
Social Club..
SOS Fund
The transfers into restricted funds were made to meet restricted expenditure not expected lo be
covered by future re¢eipts.
11 DESIGNATED FUNDS
2023
Brought
forward on
1 Jan 2023
Galnsl
Corrbed
(losses) and forward OTr
transfers 31 Dec 2023
Income Expendlture
Fixed assel fund
2022
Brought
forward
on1Jan
2022
Galnsl
Carrled
Ilosses) fop•iard on
and 31 Dec 2022
transfers
Income Expendlture
Fixed asset fund
The Fixed Asset Fund comprises all tangible fixed assets held by the chanty.
12
ANALYSIS OF NET ASSETS BETWEEN FUNDS
2023
Tanglble
rixed assets
Invest-
ments
Current
assets
Current
Ilabilities
Total
Funds
Restricted
Unrestricted ge￿ra1
Designated
274,826
423,369
{ 3,897)
(26,238)
270,929
398,031
9212767
9 212 767
At 31 December 2023
Page 18

ST JOSEPH'S RETREAT {HIGHGATE) CIO
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023
ContinL￿1
2022
Tangible
fixed assets
Invest-
ments
Current
assets
Current
liabilities
Total
Funds
Restricted
Unrestricted ge￿ra1
Designatèd
254,814
395,294
(3.897)
(26,546)
250,917
369,596
222
At 31 December 2022
13
RELATED PARP( TRANSACTIONS
During the year a total of £5,562 expenses were reimbursed to Iwo trustees (2022.. £5,759 to
trustees) in respect of travel, hospitality. healthcare and books. No otrw transactions wilh related
parties took place during the year {2022.' none). The trustees receive no special benefit as trustees
other than their care and maintenance as members of the Congregation.
14
OPERATING LEASE COMMITMENTS
At 31 December 2023 there were operating lease commitments of £881 due within one year12022'.
£8811 and £661 due in to five years {2022'. £1,541). Lease charges in the year were £88112022..
£8811.
Page 19