|||Page|
|---|---|---|
|Report ofthe trustees||1to 9|
|Independent<br>Auditor's|Report|10to 12|
|Statement of Financial|Activities|13|
|Balance Sheet||14|
|Statement ofCash Flows||15to 16|
|Notes to the Financial|Statements|17to 30|
|Detailed Statement of|Financial Activities|31to 32|





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||||Unrestricted|Restricted|2023|2022|
|---|---|---|---|---|---|---|
||||general|general|Total|Total|
||||fund|funds|funds|funds|
|||Notes|E|E|E|E|
|Income from:|||||||
|Donations<br>and legacies||||412,927|412,927|362,595|
|Charitable<br>activities||||20,215|20,215|29,508|
|Other activities||||22,313|22.313|33,393|
|Investments<br>and interest receivable|||4,019|69,421|73,440|65,447|
||||4,019|524,876|528,895|490,943|
|Transfer from Belmont Abbey|Mission Trust (Charity||||||
|Registration<br>Number 226277)||20||||3,584,821|
|Total income|||4,019|524,876|528,895|4,075,764|
|Expenditure<br>on:|||||||
|Raising funds|||8,446|17,296|25,742|17,745|
|Charitable<br>activities:|||||||
|-Support ofthe Parishes and their ministry|||1,671|498,027|499,698|394,176|
|Total expenditure|||10,117|515,323|525,440|411,921|
|Net income before investment|losses||(6,098)|9,553|3,455|3,663,843|
|Net losses on investments||13|(1,758)|(59,430)|(61,188)|(208,361)|
|Net income and net movement|in funds||(7,856)|(49,877)|(57,733)|3,455,482|
|Reconciliation offunds|||||||
|Total funds brought forward|||84,950|3,370,532|3,455,482||
|Fund balances carried forward|||77,094|3,320,655|3,397,749|3,455,482|





## 

|||||2023|2022|
|---|---|---|---|---|---|
|||||Total|Total|
|||||funds|funds|
||||Notes|f|E|
|Fixed assets||||||
|Tangible fixed assets|||12|612,690|663,836|
|Listed investments|||13|2,483,490|2,508,771|
|Investment|property||14|4,000|4,000|
|||||3,100,180|3,176,602|
|Current assets||||||
|Stocks|||15||1,120|
|Debtors|||16|296,139|112,624|
|Cash at bank and in||hand||31,581|196,081|
|||||327,720|309,825|
|Creditors: amounts||falling due within one||||
|year|||17|(30,151)|(30,950)|
|Net current|assets|||297,569|278,875|
|Total net assets||||3,397,749|3,455,482|
|Funds|||19,20|||
|Unrestricted|funds|||77,094|84,950|
|Restricted funds||||3,320,655|3,370,532|
|||||3,397,749|3,455,482|





||||Year Ended|Year Ended|
|---|---|---|---|---|
||||30June 2023|30June 2022|
|||Notes|E|E|
|Cash flows from operating|activities||||
|Cash generated<br>from operations|||(187,168)|102,114|
|Cash flows from investing|activities||||
|Purchase oftangible<br>fixed|assets||(14,864)|(94,921)|
|Purchase of listed investments|||(2p433,149)|(288,451)|
|Sale of listed investments|||2,196,924|296,072|
|Investment<br>income and interest<br>received|||73,440|65,447|
|Net cash used in investing|activities||~177,649)|(21,853)|
|Change<br>in cash and cash equivalents||in the|||
|reporting<br>period|||(364,817)|80,261|
|Cash and cash equivalents|atthe beginning||||
|ofthe reporting<br>period|||397,780||
|Cash and cash equivalents|transferred||||
|from Belmont Abbey Mission Trust||||317,519|
|(Charity Registration<br>Number 226277)|||||
|Cash and cash equivalents|at the end|of|||
|the reporting<br>period|||32,963|397,780|





## 

|||||||Year Ended|Year Ended|
|---|---|---|---|---|---|---|---|
|||||||30June 2023|30June 2022|
|||||||E|E|
||Net income|for the|reporting|period (as per the Statement|of Financial|||
||Activities)|||||(57p733)|3,455,482|
||Adjustments|for:||||||
||Depreciation|charges||||66,011|63,904|
||Losses on investments|||||61,188|208,361|
||Investment|income|and interest received|||(73,440)|(65,447)|
||Transfer from|Belmont Abbey Mission Trust (Charity Registration|||Number 226277)||(3,584,821)|
||Decrease in|stocks||||1,120|3,100|
||Decrease in|debtors||||(183p514)|27,312|
||Decrease in|creditors||||(800)|(5,777)|
||Net cash provided||by operations|||(187,168)|102,114|
|B.|ANALYSIS OF CASH||AND CASH EQUIVALENTS|||||
|||||||2023|2022|
|||||||E|6|
||Cash in bank|||||31,581|196,081|
||Porffolio|||||1,382|201,699|
||Total cash and cash||equivalents|||32,963|397,780|



## 

|||||At 1July|Cash flows|At 30June|
|---|---|---|---|---|---|---|
|||||2022|E|2023|
|||||E||E|
|Net|cash||||||
|Cash|and|cash|equivalents|397,780|(364,817)|32,963|





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||||Restricted|funds|
|---|---|---|---|---|
||||Year to 30|Year to 30|
||||June 2023|June 2022|
||||6|E|
|Collections|(including|gift aid)|398,234|328,973|
|Gifts and legacies|||330|475|
|Special collections|||14,363|16,015|
|Listed Places ofWorship Grants Scheme||||17,132|
||||412,927|362,595|



## 

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||Restricted|funds|
|---|---|---|
||Year to30|Year to30|
||June 2023|June 2022|
||E|E|
|Rent|8,906|6,614|
|Sale ofbooks, papers, votives and candles|6,069|3,993|
|Fundraising|7,338|22,786|
||22,313|33,393|



## 

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||||Yearto|
|---|---|---|---|
||Unrestricted|Restricted|30June|
||funds|funds|2023|
||6|E|E|
|Deposit account interest|212||212|
|Gift aid interest|1,752||1,752|
|Portfolio income|2,055|69,421|71,476|
||4,019|69,421|73,440|
||||Yearto|
||Unrestricted|Restricted|30June|
||funds|funds|2022|
||E|E|E|
|Deposit account interest|15||15|
|Portfolio income|1,924|63,508|65,432|
||1,939|63,508|65,447|





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||||Restricted|funds|
|---|---|---|---|---|
||||Year to 30|Year to30|
||||June 2023|June 2022|
||||E|E|
|Other income|||3,888|3,942|
|Funerals|and|church yard income|15,500|25,250|
|Restoration||contributions|827|316|
||||20,215|29,508|



## 

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||||||Year to30|
|---|---|---|---|---|---|
||||Unrestricted|Restricted|June 2023|
||||E|E|E|
|Investment|portfolio management||512|17,296|17,808|
|Old debt written||off|7,934||7,934|
||||8446|17~296|25p742|
||||||Year to 30|
||||Unrestricted|Restricted|June 2022|
||||E|E|E|
|Investment|portfolio management||522|17,223|17,745|



## 

## 

|||Unrestricted|Restricted|Year to 30|
|---|---|---|---|---|
|||funds|funds|June 2023|
|||E|E|E|
|Direct costs||84|440,820|440,904|
|Donations|||22,440|22,440|
|Support costs —governance|and finance costs|1,587|34,767|36,354|
|||1,671|498,027|499,698|
|||Unrestricted|Restricted|Year to30|
|||funds|funds|June 2022|
|||E||E|
|Direct costs||233|357,642|357,875|
|Donations|||16,250|16,250|
|Support costs —governance|and finance costs|1,156|18,895|20,051|
|||1,389|392,787|394,176|





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|||Year to30|Year to 30|
|---|---|---|---|
|||June 2023|June 2022|
|||E|E|
|Net income for the year before investment|gains isstated after charging:|||
|Staff costs||18,498|14,174|
|Auditor's<br>remuneration||19,240|10,060|
|Depreciation||66,011|63,906|



## 

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||||Year to30|Year to 30|
|---|---|---|---|---|
||||June 2023|June 2022|
||||E|E|
|Wages|and|salaries|18,498|14,174|





## 

||||||Unrestricted|Restricted||
|---|---|---|---|---|---|---|---|
||||||general|generol|Total|
||||||fund|funds|funds|
|||||Notes|E|||
|Incomefrom:||||||||
|Donations<br>and legacies||||||362,595|362,595|
|Charitable<br>activities||||||29,508|29,508|
|Other trading activities||||||33,393|33,393|
|Investments<br>and interest|receivable||||1,939|63,508|65,447|
||||||1,939|489,004|490,943|
|Transfer from Belmont Abbey Mission Trust|||||91,050|3,493,771|3,584,821|
|Totalincome|||||92,989|3,982,775|4,075,764|
|Expenditure<br>on:||||||||
|Raising funds|||||522|17,223|17,745|
|Charitable<br>activities||||||||
|.Support ofthe Parishes|and their ministry||||1,389|392,787|394,176|
|Total expenditure|||||1,911|410,010|411,921|
|Net income (expenditure(|before investment||gains||91,078|3,572,765|3,663,843|
|Net gains on investments|||||(6,128)|(202,2331|(208,361J|
|Net income and net movement||infunds|||84,950|3,370,532|3,455,482|
|Reconciliation offunds||||||||
|Totalfunds brought forward||||||||
|Fund balances carried forward|||||84,950|3,370,532|3,455,482|





## 

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||||Freehold|Plant and|Fixtures|Motor||
|---|---|---|---|---|---|---|---|
||||property|machinery|and fittings|vehicles|Total|
||||6|E|E|E|E|
|Cost||||||||
|At 1July 2022|||468,885|106,308|552,444|80,044|1,207,681|
|Additions|||||3,174|11,690|14,864|
|At 30June 2023|||468,885|106,308|555,618|91,734|1p222,545|
|Depreciation||||||||
|At 1July 2022|||182,978|106,308|182,384|72,175|543,845|
|Charge for the year|||8,237||50,963|6,810|66,010|
|At 30June 2023|||191,215|106,308|233,347|78,985|609,855|
|Net book value||||||||
|At 30June 2023|||277p670||322,271|12,749|612,690|
|At 30June 2022|||285,907||370,060|7,869|663,836|
|FIXEDASSET INVESTMENTS||||||||
|||||||2023|2022|
|||||||E|E|
|Listed investments||||||||
|Market value at 1July 2022|||||2,307p072|||
|Transfer from Belmont Abbey Mission Trust|||||||2,523,053|
|Additions<br>at cost|||||2,433,148||288,451|
|Proceeds from the sale of|investments||||(2,196,924)||(296,072)|
|Realised gain on disposals||||||166,651|31,319|
|IJnrealised<br>loss on revaluation|||||(227,839)||(239,679)|
|Market value at 30June 2023|||||2,482,108||2,307,072|
|Cash held for reinvestment||||||1,382|201,699|
|Total value of listed investments||at 30June 2023|||2,483,490||2,508,771|
|Cost oflisted investments|at 30|June 2023|||2,524,740||2,085,186|





## 

## 

|||2023|2022|2023|2022|
|---|---|---|---|---|---|
||||N|E|E|
|Overseas equities||64.33|45.93|1,596,741|1,059,734|
|UK equities||9.72|22.98|241,261|530,069|
|UK fixed interest||7.94|11.66|197,079|268,926|
|Infrastructure<br>and operating|assets|6.52||161,834||
|Cash and nearcash||5.12||127,084||
|Property||3.25||80,669||
|Contractual<br>and other income||2.36||Sgp578||
|Overseas fixed interest|||3.54||81,656|
|Alternative<br>assets||0.76|15.89|18,863|366,687|
|||100.00|100.00|2,482,109|2,307,072|



## 

## 


||2023|2022|
|---|---|---|
||E|E|
|Stocks||1,120|





## 

## 

|||2023|2022|
|---|---|---|---|
|||E|E|
|Gift aid receivable||146,535|110,724|
|Downside|Abbey debtor|140,413||
|Other debtors||9,191|1,900|
|||296,139|112,624|



## 

## 

|||||2023|2022|
|---|---|---|---|---|---|
|||||E|E|
|Expense|creditors|and|accruals|29,404|28,622|
|Deferred|income|||747|2,328|
|||||30151|30,950|



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|||||Total|
|---|---|---|---|---|
|||||funds|
|||Unrestricted|Restricted|30June|
|||funds|funds|2023|
|Tangible|fixed assets||612,690|612,690|
|Investments||115,724|2,371,766|2,487,490|
|Current|assets|(37,785)|365,505|327,720|
|Current|liabilities|(845)|(29,306)|(30,151)|
|||77,094|3,320,655|3,397,749|





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|||||||||Totalfunds|
|---|---|---|---|---|---|---|---|---|
|||||||Unrestricted|Restricted|30June|
|||||||fund|funds|2022|
|||||||C|f|F|
|Fixed assets|||||||663,836|663,836|
|Investments||||||119,161|2,393,610|2,512,771|
|Current assets||||||(33,371)|343,196|309,825|
|Current liabilities||||||(840)|(30,110)|(30,950)|
|||||||84,950|3,370,532|3,455,482|
|he total unrealised||gains are|as follows:||||||
||||||||Year to 30|Year to30|
||||||||June 2023|June 2022|
||||||||f|E|
|Unrealised<br>gains|included above:||||||||
|On listed investments|||||||(5,953)|221,886|
|Reconciliation of||movements|in unrealised||gains||||
|Unrealised<br>gains|brought forward||||||221,886||
|Transfer from Belmont Abbey Mission Trust||||||||461,565|
|Net (losses) gains||arising on revaluation||in the year|||(227,839)|(239,679)|
|Total unrealised|gains carried forward||||||(5,953)|221,886|



## 

|||At 1July||||At 30June|
|---|---|---|---|---|---|---|
|||2022|Income|Expenditure|Gains|2023|
||||E|E|E|E|
|Unrestricted|fund||||||
|General fund||84,950|4,018|(10,116)|(1,758)|77,094|
|Restricted funds|||||||
|Abergavenny|parish|810,288|144,586|(167,909)|(14,349)|772,616|
|Belmont parish||897,233|124,952|(72,171)|(15,888)|934,126|
|Weobley parish||185,612|55,759|(55,552)|(3,286)|182,533|
|Whitehaven|parish|1,136,696|151,904|(171,041)|(20,129)|1,097,430|
|Little Malvern||326,322|47,676|(48,651)|(5,778)|319,569|
|Central fund||14,381||||14,381|
|||3,370,532|524,877|(515,324)|(59,430)|3,320,655|
|Totalfunds||3,455,482|528,895|(525,440)|(61,188)|3,397,749|





## 

|||||||Transfer||
|---|---|---|---|---|---|---|---|
|||At 1July||||from|At30June|
|||2021|income|Expenditure|Gains||2022|
|||E||E||E|E|
|Unrestricted|fund|||||||
|General fund|||1,939|(1,911)|(6,128)|91,050|84,950|
|Restricted funds||||||||
|Abergavenny|parish||143,137|(118,629)|(48,486)|834,266|810,ZSS|
|Belmont parish|||106,486|(55,081)|(52,192)|898,020|897,233|
|Weobley parish|||36,736|(45,767)|(12,011)|206,654|185,612|
|Whitehaven|parish||141,149|(145,529)|(70,409)|1,211,485|1,136,696|
|Little Malvern parish|||61,496|(45,005)|(19,134)|328,965|326,322|
|Central fund||||||14,381|14,3S1|
||||489,004|(410,011)|(202,232)|3,493,771|3,370,532|
|Totalfunds|||490,943|(411,922)|(208,360)|3,584,821|3,455,482|



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