CHAPEL OF UNITY THE CHAPEL OF UNITY COVENTRY CIO A Charitable Incorporaled Organization Registered Charity No. 1183207 REPORTOF THE TRUSTEES FINANCIAL STATEMENTS for the 12 months ending 30 April 2025
THE CHAPEL OF UNITY COVENTRY CIO Page Report of the Trustees Refgron¢• and Admlnlstratlve Inforniatlon Independent Examiner 10 Statement of Flnanclal Activities 11 Notes to the Accounts 14
THE CHAPEL OF UNITY COVENTRY CIO REPORT OF THE TRUSTEES for the 12 months ending 30 April 2025 The trustees present the sixth annual report of the CIO along with the financial statements of the charity for Ihe 12 months ending 30 April 2025. The Chapel of Unity is a Charitable Incorporated Organization (CIO) which was created In 2019 with 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 responsibilities on 1 June 2020 and simultaneously, with the approval of the Charity Commission, revised its financial year to end on 30 April. Objectlves and Actlvltles The object of the charity is to use the combined power of the Church of England and the Free Churches to strengthen their life and work among the people of the County of Warwick within the Diocese of Coventry. It will seek.. - To deepen, widen and intensify the corporate Christlan Ilfe of the people in the Christian cOnggatIOns. To encourage the Church in its work of evangelism. To relate the life of the Church to every aspect of society To strengthen the co-operation between Chnstian churches. To support and work towards the complete reunion of all Chrlstian communions. Governance and Management The Chapel of Unity is administered by a body of trustees made up of individuals nominated by a variety of specified local and regional religious organizations including lay people. ministers and priests. Newly appointed trustees are familiarized with trustee responsibilities by ference to the publications of the Charity Commission and to the latest Annual Report of the Trust. The CIO trustees elect three persons to act jointly as co-chairs. One shall be an Anglican, normally not a member of the Coventry Cathedral Chapter, and two non- Anglicans. one of whom shall nomally be a Roman Catholic. Subject to the approval of the trustees they shall mutually determine the specific period for which each shall be the lead Chairperson. The trustees have examined the major risks which the charity faS and confirm that Ihrough a combination of internal financial controls and prudent investment policy exposure to those risks are to be minimized. Publlc Beneflt The CIO will continue to pursue the objects and spirit of its predecessor charity which was set up in the wake of national conflict to create reconciliation between 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 speclfic guidance to charities on the advancement of religion. It will be achieved through hosting a space that is available to people of all faiths, and none, for prayer, discusslon. meetings and exhibitlon. Achievements and Perfonnance Overvlew Progress and struggle have again characterized the activities of the Chapel of Unity 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 spiritual 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 of the representative churches to recruSt Trustees. In September the Officers met with the Dean of Coventry Cathedral, and some of the Cathedral staff, at his invitation, to explore the relationship of the Chapel with the Cathedral and improving relationships. Subsequently the trustees unanimously agreed to maintain the independence of the Chapel in accordance to the intentions of its founders. At the same time, they expressed the wish to continue to work harmoniously with the Cathedral in regards to its special relationship with the Chapel in the spirit of Christian Unity for which the Chapel was instituted and built. It is intended that to continue to explore with the Cathedral how best we can make this possible. Governance The Officers, the Trustees. and Communications Group respectively, continue to meet bimonthly online. Membership During the year Bill Young has become the new ordained URC Trustee. There are currently no Trustees representing the Baptist Church. and the Coventry Diocesan Synod has yet to appoint a clergy and lay representative. Worship and Prayer The Tuesday and Wednesday services continue to oper8te, the Wednesday seNice in-person and online. Thank you to lan Coates and Veronica Carroll for overseeing each of these services. During Advent, the Chapel of Unity gave weekly Zoom meditations based on Christmas Voices from the Holy Land, material produced by the Friends of the Holy Land. Each of these was 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 - commemorating the 700th anniversary of the Nitsne Creed and produced by the Bose Ecumenical Community in Italy- was attended by over 60 people. During Lent, the Chapel of Unity hosted an online 20-minute psalm reflection every Monday evening, based on the Garden Song by Clare and Micah Haynes These were supported by between 10 and 14 people each week.
THE CHAPEL OF UNITY COVENTRY CIO REPORT OF THE TRUSTEES contlnued Trustee Kai Thierbach and Stephen Willey. together with Ann Tuesley accompanying, have led monthly Taizé worship in the Chapel on Sundays at 5pm. In August 2024, Stephen Willey and Kai Thierbach organized a trip to Taizé for teenagers and young adults. There is also a monthly Julian Meeting in the Chapel. Exhlbltlons The Chapel of Unity has hosted a number of exhibitions and smaller displays. These included the history of the Chapel of Unity. the German Lutheran congregation who have worshiped in the Chapel since 1950, also one relating to the Week of Prayer for Christian Unity and another the World Day of Prayer. There were further displays for Refugee Week and an exhibition celebrating 400 years of the Society of Friends. the Quakers. Communlcatlons The Communications Group continues to work on the Chapel of Unity's new website and the further development of the Facebook site. Members of the group have also produced posters for events in the Chapel. Safeguarding Revd Bill Young. who was appointed a Chapel trustee in 2024 to represent the United Reformed Church (URC), has been appointed the Safeguarding Offir. He has developed a safeguarding policy for the Chapel of Unity which is based on the policies and procedures of the URC. The URC regional (Synod) Safeguarding Officer has made herself available to give advi and support as well as training where required. The trustees adopted the new policy in March 2025. Infomiation and relevant contact details have been posted in the Chapel. A copy has been passed to the Cathedral,. communication and collaboration on safeguarding matters will continue. Bulldlngs and Finance In recent years the charity has operated at an annual cash deficit due to declining income. Cash resources must now be supplemented by selective liquidation of investment shares unless new income sources can be found. During the year a sale of shares was necessary, adding £2,000 to cash reSoUrs. Present cash expectations are that further sale of a similar amount will be necessary towards the end of the new financial year. The current budget deficit cannot continue thus indefinitely. The Trustees have therefore decided in prinpIe to investigate an electronic donation station in the Chapel. Trustees are aware of the need to improve access to the Chapel, for instance by a railing on the staircase to the Chapel. This issue needs to be further explored with the Cathedral. The Chapel was dosed for some weeks in spring for repair arKJ review of the interior following a small fall of masonry. The Cathedral have been most cooperative in finding
THE CHAPEL OF UNITY COVENTRY CIO REPORT OF THE TRUSTEES contlnued appropriate places for our regular worship within the Cathedral itself. for which all are most gratefvl. Polnts for the future: Continue to consider the nature, purpose and identity of the Chapel of Unity, and its relationship with Ihe Cathedral Continue to promte the Chapel as a vlsltor slte for local ecumenlcal groups To encourage local churches to get involved with the work of the Chapel To address the recruitment crisis by proactively identifying and encouraging suitsble candidates in Ilalson wlth the representatlV8 churches To improve communications with an updated, infomative and attractive website and integrated, efficient Wi-Fi. To improve advertising for prayers and events in the Chapel To address. in cooperation with the Cathedral, the problems of faulty heating and water ingress and the possibility of a handrail. To address the budget cash deficit and put the Chapel, s finances onto a more sustainable footing. Going Concern There are no material uncertainties about the charity's abiltty to financlally support itself until the issue of the 2025126 annual report. Financlal Revlew Bra¢ket8d fjgures arè th8 ¢omparaUve amounts Trported in the statement of accounts ftjrlhe previous year The result for the year ending 30 Aprfl 2025 was a net reduction In fijnds of £3,598 (increase £2,344) made up of net cash expenditure £1,455 (£1,131) and an unrealized f811 in the market value of our shareholding of £2.143 (gain £3.475). Total Income was £3.525 (£3,811) made up of donation receipts £1,732 (£2,063), dividends received on the shares £1,731 (£1.724). inlerest £27 (£24) and a cash surplus of £35 on the sale of some shares in excess of book value. Totsl expenditure amounted to £4,980 (£4,942), accounted for mainly by the service charge of £4,100 (£4,100) payable to Coventry Cathedral under a peppercorn lease agreement. The remalning expenditure of £880 (£842) was spenton routine expenses of running the chapel, detailed further in the Income and Expenditure account. The fall in value of shares mentioned earlier is in addition to these figures.
ThE CHAPEL OF UNITY COVENTRY CIO REPORT OF THE TRUSTEES contlnuéd The year closed with total funds of £59,541 (£63,139) made up of the investment in Church of England CBF income shares £59,086 (£63,193) and net current assets of £455 (net liabilities £54), the make-up of which is detailed in the Balance Sheet. Cash: C8sh is a growing concern, and trustees are considering options to stimulate increased income. As first anticipated in the 2023 report it was necessary to s811 some shares during this financial year in orderto meet a structural cash shortfall. Our annual fixed costs are steady at around £5,000 but our undedying steady income - donations and dividends - do not match that requirement., they typically range between £2,000 and £3,000 annually. It is only thanks to exceptional donations (£8,000 in 2020, £8,400 in 2016) that share sales have not been forced on us before now. In the absence of serendipity income a further small sale of shares can be anticipated around the end of the 202516 financial year. Reserves pollcy and Investmont pollcy The major purpose of the charity is to ensure the continued appropriate use of the Chapel of Unity located at Coventry Cathedral, to promote it among the local community and support its maintenance. The predominant asset underlying its reserves is an investment acquired as part of the transfer of assets from the predecessor charity. Its prime purpose is to yield as much income as possible in order to offset the cost of amounts payable under a lease agreement with Coventry Cathedral. The capital is to be held on a contingency basis to enable the trustees to meet any obligations which may 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 purposes for which they were raised.
THE CHAPEL OF UNITY COVENTRY CIO REFERENCE AND ADMINISTRATION INFORMATION Registratlon details: The charity is registered with the Charity Commission under the name of The Chapel of Unity Coventry CIO registration number 1183207. Trustees: The names of trustees who served for any pericé up to Ihe time of signing the report are as follows. Members of the clergy are indicated by (c) NAME NOMINATED BY APPOINTED TERM EXPIRES Dorothea Beasley The Gempn Speaking Evangelical Lutheran 9 D&cemb8r Congregations in the Midlands 2023 (c) The Bishop of Coventy 8 December 2026 Mark Bratton 1 May 2025 30January 2023 30 April 2026 29 January 2026 lan Coates (c) Methodist Church John Lloyd The Chapter of Coventy Cathedral 1 May 2025 7 September 2025 30 April 2028 6 September 2028 Su Mcclellan (c) Tha Chapter of Coventy Cathedral 31 December 2027 Andrew Marsh Tha Friends, Meeting House (Co-OPt8d) l January 2024 Penny Mcculloch M8th(MJist Church 16 February 2023 15 February 2026 Leo Poole {c) Roman Catholi¢ Archdiocese of Bimiingham 7 July 2023 The Gemian Speaking Evangelical Lutheran 26 January Congregations in the Midlands 2025 The Rornan Catholic Archdi0se of Birmingham. West Midlands Syn¢)d of the United Reformed Church 6 July 2026 25 January 2028 Kai Thierba¢h. Ic) Janet Ward 1 May 2025 30 April 2028 Bill Young (c) 15 Octob8r 2024 14 October 2027 Honorary offlcors Kate Hughes, Secr8tary Michael Pery BA FCA, Treasurer 8ankors Beverley Building Society 57 Market Place Beverfey HU17 8AA Registered Address 18eechwood Croft Kenilworth CV8 1 GX Sollcitors Towns Needham Sollcilors Brook House 64-72 Spring Gardens Manchester M2 2BQ Warwickshir8 Website: htt .11 h lofuni .or k [ under construction ] @chapebfunity.
THE CHAPEL OF UNITY COVENTRY CIO TRUSTEES, RESPONSIBILITIES IN RESPECT TO FINANCIAL STATEMENTS Although Ihe charity is small enough to be exempt this annual report and statement of financial activities have been prepared on an accruals basis. The trustees have selected suitable accounting policies and Intend to apply them consistently have made judgements and estimates which are reasonable and pnjdent confirm that the attached statement of accounts has been prepared on a golng concem basis and complies with applicable accounting standards and statements of recommended accounting practice The financial statement has been independently examined. it has been prepared in accordance with the accounting policies set out in note 1 on page 14 and comply with the charity's Constitution and the Charities Act 2011, The trustees are responsible for keeping accounting records which disclose with reasonabSe accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the charity and for taking reasonable steps to prevent and detect fraud or other irregularities. Approved on behalf of the trustees Date -A4_l @- L20 2s Kai Thierbach
THE CHAPEL OF UNITY COVENTRY CIQ INOEPENDENT EXAMINER'S REPORT TO THE TrU8TEES OF THE CHAPEL OF UNrfY COVEirfRY CIO R•gl8t•r•d. Charlty 1183207 I rep1 to the tntee$ on my examlnatlon of the accounts of the above chanty for the year ended 30 Aw'l 2025. R•OnSIbIlItI•l and As the charlty8 truslees, you are responslble for the preparatlon of the {Ihe Acr). I report In respoct of my oxamlnabon of the ¢haiiWs accounts carrled out under 8ethn 145 of the 2011 Acl and in carryiry (yjt my examlnation. I have followed all the aprAlcable Direclions giv•n by Charfty Commissitin under s8ction 145(SXb) of the Act. Ind•p•nd•nt have completed my examinalion. l tt•nfim that no material matters •xamln•rf• •tal•m•nt have c%)me lo my attention in txlnneclton whh th8 examination whKh give me cause to belleve that In, any materlal res. the accounting rec%xd8 were Th)t kept In accordance wlth secllon 130 of the Charities Act., iy the accA)unts dld not accord with accounung re(x)rds,' or the accounts dld not comply wlth the applFcabl8 requirernents conc4mln9 the form and contenl of accounts set out in the Charities {Accounts and Report8) Rogulallons 2CM)8 other than any requirement that the xcounts gSve a 'tru& and falrf vlew whlch Is rKJt a matter ler8d as part of an independenl examination. I have no o)ncems and have come across no other matters in connection with the examinatmx to whlch attention should be drawn In this report In onler to enable a woper underslarKllrG of the accounts to be reached. Jane Smith 16 Wlndlesham Gardens. Brlghton BN13AJ 10
THE CHAPEL OF UNITY COVENTRY CIO Registered charity nurnb8r 1183207 STATEMENT OF ACCOUNTS Incomo & Expendlture Account for the year endlng 30 Aprll 2025 TOTAL Ye•r 8ndiTrJ 30 AprS12024 Year endln9 30 4)ril 2025 INCOME Donations: unrestricted 903 Chapel collection box contents Plate collections Note 3 860 220 198 830 Other donations 674 110 Donation: restricted 2.063 Total donations Dividends received 1,732 1,731 27 1,724 24 Interest reiVed Realized gain on the sale of shares TOTAL INCOME 35 3.811 3.525 EXPENDITURE 4.100 Service charge, Coventry Cathedral Chapel expenses.. annual copyright & streaming licence Chapel expense: mobile data streaming monthly charges Chapel expenses,. other including exhibition materials Charitable expenditure: restricted donation. TOTAL EXPENDITURE 4,100 138 132 144 132 456 610 110 4,942 4,980 11,131) NET EXPENDITURE BEFORE CHANGE IN VALUE OF SHARES {1,455) 3,475 Unrealized (fall) I gain in market value of shares Note 2 (2,143) NET (DECREASE) I INCREASE IN FUNDS durlng the year (3,598) 11
THE CHAPEL OF UNITY COVENTRY CIO Regislered charfty number 1183207 STATEMENT OF ACCOUNTS BALANCE SHEET at 30 Aprll 2025 30 April 2024 30 April 2025 ASSETS Flx•d Asset CBF Church of England Investment Fund Note 2 63.193 59,086 Current assets Debtors: Collection box conients (clo Coventry Cathedral) Note 3 other 1191 1 Deposit account: Bevertey Building Society 1,516 Total current assets 225 276 100 1,940 Current Ilabilities payable wlthln one y•ar Service charge owing to the Cathedral other Total current liabilities 1.345 140 1,570 ( 54) 1.485 Net current aswts l (Ilabilltles) NET ASSETS 455 £63,139 £59,541 FUNDS . unrnstrlct•d Designated General Note 7 Total 60.795 Accumulated fund at beginning of the year 8,000 55,139 63,139 Net (expenditure) l income during the period (3.598) (3,598) £63,139 TOTAL FUNDS Carrled forward 8,000 51.541 £59,541 .Lop.(b2J Kai Thierbach Trustee 12
THE CHAPEL OF UNITY COVENTRY CIO STATEMENT OF CASH FLOWS 12 months endlng 30 April 2025 RECONCILIATION OF NET CASH USED BY OPERATING ACTMTIES TO CASH AT THE END OF THE FINANCIAL YEAR YEAR ENDING 30 APRIL 2024 Year ending 30 April 2025 (2,682) Net cash used in Operating Activities (see below) 13.385) Investment activities, cash arising.. Proceeds of sale of shares 2.000 1, 7241 Dividends received Bank interest 1,731 27 1,748 Cash flow arising from investment activities 3,758 (934) Net cash inflow l (oufflowl during the period 2, 125 Add cash brought forward from previous period 373 1,191 £1.191 Total cash at end of the period £1,564 DERIVATION OF CASH USED BY OPERATING ACTivrriES 2,344 Net (decrease) l increase in funds during the year as reported in the Stslement of Financial A¢ttvities (3,598) Adjustrnents to 81iminate non-operating activities: Investrnent activities: Realized gain on sale of shares Unrealized fall l (increase) in value of investment (35) (3.474J 2,143 fl, 724J Dividends re¢elved (1,731) (24) Bank interest 127) 53 Decrease l (increase) in debtors during the period (51) 143 In¢aSe I (de¢ase) in creditors during the period 186) (5,026) Totsl adjustments to eliminate nOn-0rating cash flov 213 (£2.682J Net Cash used by operating activities (£3,385) 13
THE CHAPEL OF UNITY COVENTRY CIO NOTES FORMING PART OF THE FINANCIAL STATEMENTS 1. Principal accountlng policies a) Accountlng Conventlon The financlal statements have been prepared in accordance with Chanties SORP (FRS 102) Accounting and Reporting by Charities.. Statement of Recommended PraGtice appliGable to chan'ties prgparing their accounts in accordance with the Financial Repothng Standard applicable to the UK and Republic of Iland, with the Charities Act 2011 and with the charity's constitution. b) Income and expendlture Expenditure is included on an accruals basis inclusive of irrecoverable VAT. Donations received for specific purposes are reported as restricted income. Expenditure of funds arising from restricted income is reported as restricted expenditure. c) Share valuatlon The investment managers, CCLA Investment Management Ltd, trade the shares daily. Shares are valued in the accounts at the bid price ruling on the nearest trading day to the end of the reporting period. 2. CBF Church of England Investment Fund Income Shares: Reallzed galn on the sale of shares and yearryend holdlng Year ending 30 April 2024 Price l Number share of INote 1¢) shaFes Yaar ending 30 Aprll 2025 Number of shar85 Market valu8 Price I share (Note 1cl Market value 21.404 2.790.1 59,719 At the beginning of the financial year Less Shares sold during th8 year at brought-forward market value Shares retsined at broughl- forward market value Market valug of shares at end of th& year Unrealized gain (loss} in market value during the period (Minordiff8r8nc8s in additions ariso fmm mundings) 22.650 2.7.1 63,193 22.650 (86.7) (1,964) 21.404 2.790.1 59,719 22.650 2.703.3 61,229 22.650 2.790.1 63,193 21.857 2.703.3 59,086 1.246 2,790.1 3A74 10.793) 2,703.3 {2,143) 3. Collectlon box contonts Donation8 can be left by visitors in a colleGtion box located In Ihe 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 seNice charge. 4. Remuneration and staff costs Trustees received no remuneration and no staff were employed. 14
THE CHAPEL OF UNITY COVENTRY CIO NOTES FORMING PART OF THE FINANCIAL STATEMENTS continued 5. Trustee & Independent Examiner's expenses No expenses were claimed or paid to trustees during the year other than to imburse costs incurred on behalf of the charity and no remuneration was paid to the Independent Examiner. 6. Related Party Transactions No transactions with related parties took place during the perlod. 7. 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 forms of charitable expenditure. It is intended for specific activities and events that enUrage people to pray, team and grow together. in the spirit of the donor. 15