CHAPEL OF UNITY THE CHAPEL OF UNITY COVENTRY CIO A Charitsble Incorporated Organizats'on Registered Charity No. 1183207 REPORT OF THE TRUSTEES FINANCIAL STATEMENTS lor the 12 months ondlng 30 Aprll 2024
THE CHAPEL OF UNITr COVENTRY CIO Page Report of the Trustees Ref•rnnc• and Admlnlstratfv• Inforniallon Independ•nt Examlner Stat•m?nt of Flnanclal Actlvllles 10 Notss to the Accounts 13
THE CHAPEL OF UNif( COVENTRY CIO REPORT OF THE TRUSTEES for the 12 months ending 30 April 2024 The trustees present the fifth annual report of the CIO along with the financial ststements of the charity for the 12 monlhs ending 30 April 2024. The Chapel of Unity is a Charitslse Incorpated Organization {CIO) which was created in 2019 a view to assuming all the functions. assets and liabilities of the Joint Council, Chapel of Unity Coventry Cathedral. registered charity 248422. It took over those responsibilits'es on 1 June 2020 and simultsneously, with the approval of the Charlty Commi&8ion, revised its financial year to end on 30 Aprll. Objoctlves and Actlvrtles The object of Ihe charity is to use the combined power of the Church of England and the Free Churches to strengthen their lrfe and work amng the people of the County of Wapwick wlthin the Diocese of Coventy. It will seek: . To deepen. widen and intensfy the corporate Christian life of the people in the Christian congregations. To encourage the Church in its work of evangelism. To relate the life of the Church to every aspect of sooety To strengthen the cfroperation between Christian churches. To SUPF)Ort and work towards the complete reunion of all Chrlstlan communions. Governance and Management The Chapel of Unity is administered by a body of trustees made up of indlvlduals nominated by a variety of specffied local and regional religious organizations includlng 18y people. ministers and priests. Newly appointed trustees are familiarized wilh trustee responsibilities by reference to th6 publications of the Charity Commission and to the latest Annual Report of the Trust. The CIO trustees elect three persons to act jointty as Coknchalrs. One shall be an Anglican. normally not a member of the Coventry Cathedral Chapter, and two non- Anglicans, one of whom shall nornially be a Rornan Cathollc. Subject to the approval of the trustees they shall mutually detemiine the specific period for which each shall be the lead Chairperson. The trUeeS have examined the major risks which the charity fS and (a)nfirm that through a combination of internal financial controls and prudent investment policy exposure to those risks are io be minimized. Publlc B•n•fft The CIO wlll continue to pursue the objects and spirit of its predeces50r charity which was set up in the wake of national conflict to create reconciliation bebNeen Christian churches and to model reconciliation between all people. The trustees have considered the Charity Commission's guidance on public benefit and, in particular,
THE CHAPEL OF UNITY COVENTRY CIO REPORT OF THE TRUSTEES contlnued the specific guidance to charities on the advancement of religion. 11 will be achieved through hosting a space that is available to people of all faiths. and none, fcx prayer, discussion. meetings and exhibition. A¢hl•vomonts and Perfornianc• Overvlew Progress and struggle have characAerized the activities of Ihe Chapel of Unlty this year. The Chapel of Unity is a valued locus for worship and prayer. and education about the history of the Chapel and other areas of splritual life. The Chapel has made considerable progress to update and improve its systems of communication and to broadcast the history and purpose of the Chapel more widely. The Chapel has also begun to reach out to the community more effectively. However. it is proving difficult for some the representative churches to recruit Truslees and the ojrrent budget deficit cannot conlinue indefinilely. Governan The Officers, and the Trustees. and Communications Group respectlvely. continu8 to meet bimonthly online. Member8hlp During the year, David Sutcliffe SIgned as an ordained Baptist Trustee pending retirement. There are currently no Trustees representing the URC and the Baptists, and the Coventy Diocesan Synod has not appointed a dergy and lay representative following the resignations of Father Dexter Bracey and Sarn Margrave over 12 months Worshlp and Pray•r The Tuesday and Wednesday services continue to operate in-person and onllne. Thank you to lan Coates and Veronica Carrol for overseeing each of these. During Advent. the Chapel of Unity gave weekly Zoom meditations focussing on scripture passages extracted from the lectionary readings set for Advent Sunday according to the Revised Cornmon Lectionary. These readings were led by representatives of one of the Churches that support the Chapel of Unity. The annual service for the Week of Prayer for Christian Unity - on the theme of 'seNice' ('Go and Do Likewise')- was successful, attended by over 60 people. During Lent, the Chapel of Unity hosted an online 20-minute poem reflection every Monday evening, which Penny Mcculloch selected from The Heart's Time, edited by Janet Morley. These were good and helpful but accessed by quite a small group. Kai Thierbach has led monthly Taizé worship in the Cathedral successfully. and there are current plans to offer weekly Taizé worship in the ruins of the old Cathedral during the summer. Exhibitions The Chapel of Unity has hosted a number of exhibitions Induding by the Lutheran congregation. one relating lo the Week of Prayer for Christian Unity, one on the subject of'Rural Hardship,, a small exhibition of the World Day of Prayer, and an exhibilion curaied by the Passionists of Lent and Holy Week. The Communications
THE CHAPEL OF UNITY COVENTRY CIO REPORT OF THE TrUSTEES contlnued Group has been developing criteria goveming those wish to use the Chapel of exhibitions. Communlcations The Communications Group worked assiduously to identtfy a suitable website designer after the Trustees asked it lo investigate and to make a recommendatlon. The Group recommended asking Gabriel Media to oversee the Chapel of Unity's new website and the Trustees accepted this recommendats'on. The possibility of linking the Chapel to the Cathedral's Wi-Fi system is Currently under discussion. Safeguardlng The Officers and Trustees have regularfy discussed the development of safeguarding policy goveming the Chapel of Unlty, following an inquiry from the Cathedral's then Chief Operating Officer Isobel Chapman. After conversations with the Cathedral. induding its own safeguarding officer. Jane Williams. and Sarah Price, the Di0$8n Safeguarding Officer. the Officers and Trustees decided to align its safeguarding policies wilh those of the Cathedral, appointing Jane Williams, as the Chapel of Unity's Safeguarding Officer. This arrangement is subject to the agreement and implementation of a Memorandum of Understsnding with the Diocese to preserve the independence of the Chapel of Unity as regards its obligations and liabilities. Bulldlngs and Flnance In recent years the charity has operated at a cash deficlt due to dedlnlng Incorne. Cash resources must now be supplernented by selective liquidation of Investment shares unle&8 new income sources can be found. The Treasurer, Mike Perry, has regularty contacted Simon Danks. the Cathedral Chief Operating Officer, about the status of the Chapel's faulty heating system. affected by water ingress. The archltect has concluded that the Chapel will require serious refurbishment to prevent further leaklng, and il Is currently undear whether the Chapel will be liable for the costs of repalr. Outr•a¢h In June 2023, the Chapel of Unity Secretary conducted a guided tour of the Chapel of Unity to about 20 members of Churches Together In Berkswell and Balsall Common, with positive feedback. Polnls for tho futur•: Continue to consider the nature. purpose and identity of the Chapel of Unity. and its relationship with the Cathedral Continue to promote the Chapel as a visitor site for local ecumenical groups and to encourage local churches to lead Taizé worship in the Chapel of Unity or in the ruin? of the old cathedral To address the recruitrnenl crisis by proactively identifying and encouraging suitable candidates in liaison with the repfesentative churches
THE CHAPEL OF UNITf COVENTRY CIO REPORT OF THE TRUSTEES contlnued To improve rx)mmuni(%tions with an wxlated. inforniative and attractive website and integrated. efficient Wi-Fi. To produ(. in liaison vath the Chapel's Safeguarding Offi(xr. arKJ Diocesan Safeguarding Offic8r, safeguarding notices. a robust safeguarding policy. proper training and recyuitrnent pro¢edur8S. To address, in operatiOn with the Cathedral. the problems of faulty heating and water ingress. To address the budget cash deficit and put the Chap81' s finances onto a sustsinable footing by seekirvJ new %)urces of incomg. Golng Conc•m There are no material uncertainties abcNJt the (tharity's abilty to contlnue. Flmnclal R•vl•w Bracketed figures arn the comparatlve amounts report8d in the statement of accounts ftir the prnVus year The result for the year was a net in¢ffjase in furmls of £2,344 (reduction £2,476) made up of net cash experKliture £1,131 (£1,865) and an unrealized gain in the market value of the Investment £3.474 (fall £611). Totsl Income was £3,810 (£2,927) made up of donalion r8ceipts £2.062 (£1,191) and dividends received on the investrnent £1,724 (£1.724). Buikling soriety interest added £24 (£12). The donations, which are detailed on the face of the accounts statement, Indude restricted amount of £100 which is explained in note 4 to the a¢Unt8. Total 8XP8ndlture amwnted to £4,9421£4,792) accounted for mainly by the annual service charge payab18 to Coventry Cathedral under a peppercom lease agreement £4,100 {£4,100). The remaining expendllure was on routine expenses of running the Chapel, detsiled on the face of the accounts statement £732 (£692). The year dosed *ith funds of £63,138 <£60,795) made up of the Investrnent in Church of England C8F Income shares £63,1931£59,719) and net current liabilities of £54 (net current assets £1.076>. The net current118bilities are detalw on the fa of Ihe balance sheet. At £1,191 <£2,125) cash bwll not be adequate to meet the needs of Immln8nt normal operating expenditure. It bwII need to be supplemented in the coming year by the liquidation of shares amounting to approximately £2.Crf. Delagated authcKity has already been authorized for th8 treasurer to initiate such a liquidation. Rese$ polky arKI Investm•nt pollcy The major purpose of the charity is to ensure the continued appropriate use of th8 Chapel of Unity located at Coventy Cathedral. to promote it among the thal community and support Its rnaintenan(. The predominant asset underlying its reserves is an investment acquired a¥ part of the transfer of a?¥ets from the predece¥aor charity. Its prime purpose to yTrèkJ •• much income as possible in order to offset the o)st of amounts payable under a lease agreement wth Coventy Cathedral. The capital is to be held on a o)nts'ngency basis to enable the trustees to meet any obligations which fnay arise to assist Coventry Cathedral including maintaining the Chapel of Unity. Any other income raised during a financial year is applied without undue delay to the PUTKM)ses for which they raised.
THE CHAPEL OF UNITh COVENTRY CIO REFERENCE AND ADMINISTRATK)N INFORMATION Registratlon detalls: The charity is registered with the Charity Commission under the name of The Chapel of Unity Coventy CIO registration number 1183207. Trustoe8: The names of trustees who served for any Per up to Ihe time of signing the report are as follows. Members of the dergy are indicated by {c} NAME NOMINATED BY APPOINTED TERM EXPIRES Dorothea Beasley The German Speaking Evangelical Lutheran 9 December Congregations in the Midlands 2023 (c) The 8ishop of Coventsy 8 December 2026 Mark Bratton l May 2022 30January 2023 30 Aprll 2025 29 January 2026 lan Coats8 (c) Methodist Church John Lloyd The Chapter of Coventy Cathedral 1 May 2022 7 September 2021 30 April 2025 6 Septsmbor 2024 Su Mcclellan (c) The Chapter of Coventy Cathedral 31 December 2027 Andrew Marsh The Frlends, Meeting House (Cwted) 1 January 2024 Penny Mcculloch Methc¥Jist Church 16 February 2023 15 February 2026 Leo Poole (c) Roman Catholic Archdiocese of 8lrmingham 7 July 2023 (c) The Heart of England 8apb.st Association 1 Jure 2022 The GOrnn Speakiw Evangelical Lutheran 26 January Cmgregations in the Midlands 2022 The Roman Catholic Archdiocese of Birmingham. 6 July 2026 31 May 2025 25 January 2025 David Sutcliffe Kal Thlerbach. (c) Janet Ward 1 May 2022 30 April 2025 Honorary Offir9 Kate Hughes, Secretary Michael Perry BA FCA. Treasurer Bank•rn Beverley Building Soclety 57 Market Pla 88vedèy HU17 8M Reglst•r•d Addro 1 Beechwood Croft Kenilworth CV8 1GX Warwickshlre Sollcltors Towns N8edham Solicitors Brook House 64-72 Spring Gardens Manchester M2 2BQ Website". ni l under construction ] apolofunity.
THE CHAPEL OF UNITY COVENTRY CIO TRUSTEES, RESPONSIBILITIES IN RESPECT TO FINANCIAL STATEMENTS Although the charity is small enough to be exempt this annual report and statement of financSal activities have been prepared on an accruals basis. The trustees have selected suitable acxounting policies and Intend to apply them consistently have made judgements and estlmates which are reasonable and prudent confirm that the attached statement of accounts has been prepared on a going concem basis and complies with aptAicable accounting standards and statements of recommended accounting prdctic¢ The finanaal statement has been Independenty exarnined; St has been prepared in accordance with the accounting polictes set out in note 1 on page 12 and comply with the charity's Conslitution and the Charities Act 2011. The trustees are responsible for keeping accountlng records whlch disdose wlth reasonable accuracy at any time the financial posltion of the charlty and enable them to ensure that the financial statements cornply with the Charities Act 2011. They are also responsible for safeguarding the assets of the charity and for taklng reasonable steps to prevent and detect fraud or other irregularities. Approved on behalf of the trustees Mark Bration Dale
THE CHAPEL OF UNI COVENTRY CIO INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE CHAPEL OF UNITY COVENTRY CIO RegIstor. Charlty 1183207 I report to the trustees on my examination of the accounts of the above charity for the year ended 30 April 2024. Responslbllltles and basls of report As the charitys truslees. you are responslble for the preparation of the accounts in acc(danCe with the requirements of the Charities Act 2011 (Ihe Acr). I report in respect of my examination of the charity's accounts carried out under section 145 of the 2011 Act and In carrylng out my examination. I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. Independent I have completed my examination. I confimi that no material matters examlnorf8 •tatom•nt have come to my attentlon In (x)nnection with the examinatlon whlch give me cause to believe that in. any material respect: the ac{xnting records were not kept In accordance wlth sectlon 130 of the Charities Act; or the accounts did rK)t accord with the accountlng records: or the accounts did not comply with Ihe applicable requirements concerning the fom and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts glve a 'true and f81rf vlew which is not a matter considered as part of an independent examlnation. I have no concems and have come across no other matters In connection wth Ihe examlnation to which attentlon should be drawn in this report in order lo enable a proper understandlng of the accounts lo be reached. Jane Smith 16 Windlesham Gardens. Brighton BN13AI
THE CHAPEL OF UNITf COVENTRY CIO RwJtsttrtd (*•rty nwthr 1183207 STATEMENT OF ACCOUNTS Incomo & Exp•ndlture A¢count for th• yw •ndlw 30 Aprll 2024 TOTAL ending 30 April 2023 INCOME Donatlons: unrestricted 836 Chapel collection box contents Plate collections Note 3 903 270 220 85 Other donations 830 1,191 Total unrestricted donations received 1,953 110 Donation: restricted Note 4 1,191 Totsl donations 2,063 1,724 DividerKls received 1,724 24 12 Interest received 2,927 TOTAL INCOME 3,811 EXPENDITURE Serrfice charge. Coventy Cathedral Chapel expenses: annual copyright & streaming licence Chapel expense: mblle dats Streaming monthly charges Chapel expenses: other induding exhibition materials Charitable expendilure: restricted donation. TOTAL EXPENDITURE 4,100 4.100 132 123 234 144 335 456 Note 4 110 4792 4,942 (1.8651 NET REALIZED EXPENDrruRE BEFORE CHANGE IN VALUE OF SHARES (1,131) 1811) Unrealized gain l (fall) in market value of shares NEf INCREASE I (DECREASE) IN FUNDS durfng Ihe year Note 2 3,475 £2.344 £{2,476) 10
THE CHAPEL OF UNITY COVENTRY CIO Registered ¢h8rrty number 1183207 STATEMENT OF ACCOUNTS BALANCE SHEEr at 30 April 2024 30 April 2023 TOTAL ASSETS Flxed Asset CBF Church of England Investrnent Fur Note 2 59.719 63,193 Currnnt ass•ts Debtors: Collection box conlents clo Coventry Cathedral Note 3 Other Deposlt account". Beverley Bullding Society Cash In HarKI Total current assets 278 100 225 100 1,191 2,100 25 2.503 1,516 Currnnt Ilabllltl•• payab wlthln one year Servlce charge owing to the Cathedral Other Totsl current liabilitles 1,345 225 82 1,427 1,076 1,570 Net curront {Ilabllltles) l assets NET ASSETS (54) £60,795 £63,139 FUNDS * unrnslrlcted Desynated Gonoral Totsl 63,271 Accumulated fund at beginning of the year 8.000 52.795 60,795 12,476) Net expenditure during the p8nod 2,344 2,344 £60,795 TOTAL FUNDS ¢arrled forward 8,000 55.139 £63,139 Date - Mark Bratton
THE CHAPEL OF UNITY COVENTRY CIO STATEMENT OF CASH FLOWS 12 months ending 30 Aprfl 2024 RECONCILIATION OF NET CASH USED BY OPERAnNG ACTivmES TO CASH AT THE END OF THE FINANCIAL YEAR YEAR ENOING 30 APRIL 2023 TOTAL (3,785) Operating activities: Mt cash us8d {se8 below) (2,682) Investrnent activlties. cash wising: 1.724 Dividends received 1,724 12 Bank interest 24 1,736 Cash arising inVlt activities 1,748 (2,049) Net cash ouffithv inflow duriry the p8ri0d 4. 174 Add c&8h brought forward frLYn previous period (934) 2,125 £2,125 Total cash at end of the period £1,191 DERNATION OF CASH USED BY OPERATING ACTivmES (2.476) Net increase l (decrease) in ld5 ring the year as reported in the Statement of Financial A(Xivitie$ Adjustments to eliminate nonWlng activbties". Inveslment actlvltles: 611 Unrealized {increase) I fall in value of Investment (3.474) (1, 724) DNidends re¢*ived <1.724) (12) Bank inter88t (24) (36) Decrease l (increase) In deblors duriNJ tho period 53 (148) Increase l (decrease) in creditor5 during the perlod 143 (1.309) Totsl adjustrnents to eliminate rK)n4)twab'ng cash Ilows (5,026) 3.786) Net Cash used by operating acbvitses £(2.682) 12
THE CHAPEL OF UNITh COVENTRY CIO NOTES FORMING PART OF THE FINANCIAL STATEMENTS 1. Prfnclpal accountlng policies a) Accountlng Conventlon The financial ststements have been ppared in accordance wlth Chan'fies SORP (FRS 102) Accounting and Reporting by Chanties.. Statement of Recommended Prnctice applicable to charities preparing their accounts in accordance ¥wth Éhe Finanaal Repon9 Standard applicable to the UK and Republic of Ireland, with the Charities Act 2011 and with the charity's constitution. b) Income and oxpendltur• Expenditure is included on an accruals basis induspie of irrecoverable VAT. Donations received for specific purposes are reported as restricted income. Expenditure of funds arising from restricted incorne Is ported as restrlcted experKliture. c) Share valuatlon The Investment managers. CCLA Investment Management Lld. trade the shares daily. Shares are valued in the accounts at the bid prlce rullng on Ihe nearest trading day to the end of the reporting period. 2. CBF Church of England Inv08tm•nt Fund - holdlng of 2,790.01 Incom• shar•s Year endlng 30 Aprll 2023 Bld pri Market per Share value Shares held Y•ar •ndlng 30 Aprll 2024 Bld price Market per Share value of shar88 hekd 21.623 eo,3JO At the beginniry of the finan¢id yew 21.404 59.719 (00.219) ( 611) Gain {kwl kn mwket value duflr#J th8 year 1.246 3.474 21.404 £59,719 M•rk•t valu• at the end of the y•ar 22.650 £63,193 3. Collectlon box contents Donations can be left by visitors in a collection box located In the Chapel. Cathedral staff empty the box on behalf of the charity and account for it each half- year by offset when invoicing the Cathedral's $8rrfice charge. 4. R•strlct•d Donalion The charity received an anonymtxjs donation of £110 subject to a condition that it was not to be used for the operating costs of the charity. The amount was donated in tum to a group of worshippers associated with the charity. 13
THE CHAPEL OF UNI COVENTRY CIO NOTES FORMING PART OF THE FINANCIAL STATEMENTS contlnuod 5. Remuneratlon and staff costs Trustees received no remuneration and no stsff were employed. 6. Trusteo Expen8e8 No expenses were daimed or paid to trustees during the year other than to relmburse costs incurred on behalf of the charity. 7. Relal•d Paty Transactlon¥ No transactions with related parties took place during the period. 8. Deslgnatlon of funds A donation received in a previous financial period from Coventy and Warwickshire Churches Together has been designated by trustees to safeguard it from being used for other fomis of charitable expenditure. It is intended for specific actlvities and events that encourage people to pray. leam and grow together, in the spirit of the donor. 14