2023-12-31-accounts

REGISTEREO COMPANY NUMBER: CE022987 IEnBland and Wales) REGISTERED CHARITY NUMBER: 1191221 Report of the Trustees and Financial Statement5 for the Period l July 2023 to 31 December 2023 for Belmont Abbey Mission CIO A D Accounts (Trusts) Limited Rural Enterprise Centre Vincent Caiey Road Rothetw3s Hereford Herefordshire HR2 6FE

Belmont Abbey Mission CIO Contents of the Financial statements for the Period l July 2023 to 31 Decernber 2023 Page Report of the trustees Ito9 Independent Auditorfs Report IOto12 Statement of Flnanclal Actfvitles 13 Balance Sheet 14 Statement of Cash Flows 15to16 Notes to the Flnanclal Statements 17to30 Detailed Statement of Financial Activitie5 31to32

Belmont Abbey Mission CIO Report of the trustees for the Period l July 2023 to 31 December 2023 The trustees present their staiuiory report together with the accounts of Belmont Abbey Mission CIO for the period I July 2023 to 31 Decèmber 2023. The report is signed on behalf of the trustees by Abbot Brendan Thomas who was appointed a Trustee of the CIO and as the 12th Abbot of Belmont on 4th June 2024 on the retirement of Abbot Paul Stonham after over 24 years of much appreciated service as a trustee and as the Ilth Abbot of Belmont. The account5 have been prepared in accordan￿ with the accountin8 policies set out on pages 17 to 21 of the attached accounts and comply with applicable laws and the requirements of the Statement of Recommended Practice.. Accountin8 and Reporting by Charitie5 preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and the Republic of Ireland (Charities SORP FRS 1021 leffective l January 20191. Introductlon The accounts ac¢ompanyln8 this report are the accounts of Belmont Abbey Mission CIO, a charity registered on 9 September 2020, Charity Registration No. 1191221. Sstory and orBanlsatlon Belmont Abbey Mission Trust Icharity Registration No. 2262771 was set up originally in 1936 to operate the parishes belon8in8 to the Benedictine community of Belmoni Abbey. Al l July 2021, the Trust comprised five parishes, namely St Michael and All Angels (Belmont), Our Lady and Sl Michael IAbergavennyl. St Thomas of Hereford Iweobleyl, St Be8h Iwhltehavenl and St Wulstan's ILittle Malvernl. With effea from l July 2021, the assets, liabilities and activities of Belmont Abbey Mission TrLFSt were translerred to the CIO. The Abbey Itself Is now owned and operated by Belmont Abbey General CIO Icharity Re8lStratlon No. 11900351 followin8 the transfer of assets, liabilitles and adivities of Belmont Abbey General Trust Icharlty Re8iStratlon No. 2262781 to that CIO on l July 2021. Mernbers of the Belrnont Community also have pasioral care of several diocesan parishes. belonging to the respective diocesan trust. This work currently involves parishes in the Archdiocese of Cardiff and a parish in the Diocese of L14rin in Peru. OBJEcfivES AND ACTIVlnES Oblertlves and alms The principal objectives of the charity are.. • The support and benefit of Roman Catholic parishes, thurches, chapels, cemeteries, pre5byterie5 and hall5; • The support of the clergy who are or have 5eryed the charity's parlshes.. • The educatlon and trainin8 of prie5ts,' and * The relief of the needy and poor. Put More generally, the aims of the charity are to safeguard, develop and promote the interests of the Incorporated parishes belonging to Belmont Abbey. This also involves maintenance of 311 the buildin85, includin8 listed buildings of some architectural importance and other objeus of historic and eccle5iaStical significance. such as the Tudor vestments at Abergavennv.

Belmont Abbey Mission CIO Report of the tru5tee5 for the Period l July 2023 to 31 December 2023 OBJECTIVES AND AcfivrnES Icontinuedl Slgnlflcant actlvltles The charity Èxlsts to suppoit and beneflt the Roman Catholic parlshes. churches. chapels. cemeteries. presbyterles and halls in its care. The five pafishe5 belonging to the chaT4ty during the year were= • Abergavenriy.. Our Lady and St Michael, 10 Pen v Pound, Abergavenny NP7 SUD. Tel.. [phone]. Rev Dom Matthew Carney. • Belmont Abbey: the Abbey of St Michael and All Angels. Ruckhall Lane, Hereford HR2 9RZ. Tel.. [phone]. Rt Rev Dom Paul Stonham IParish Priestl Rev Oom Augustine Primavesi (Assistant Parish Priestl • Weobley: St Thomas of Hereford, Kin8ton Road, Weobley, Hereford H84 BQS Tel.. [phone]. Also serves Kington. Very Rev Dom Simon McGurk. • Whltehaven: St Begh's Pflory, Coa¢h Road. Whiiehaven. Cvmbiia. CA28 7TE Tel.. [phone]. Rev Dom Cenydd Marri50n (Parish Priestl and Rev Dom Richard Simons (Parish Administratorl. • Uttle Malvern: St Wulstan's, Wells Road, Little Malvern. WR14 4JL Tel.. [phone]. Rev Dom Patrick Lobo. Belmonl Abbey. Hereford Srt Wvl&iaK 5. Lllrtle Muh*r Sf Begh's Priory.. &. Gregory0￿S1 Pairick Whileha￿0 r Lady Hichoel, Aberyavenny SÈ T1￿￿￿$ ofHereford. Bede. Kimgion

Belmont Abbey Mission CIO Report of the tru5tee5 for the Period l July 2023 to 31 December 2023 08JEcfivES AND ACTIVITIES Icontinuedl Slgnlficant artlvttles lcontinueill There are many initiatives, both spiritual and social, to promote the wellbein8 of all a8e groups throughout these parishes, makin8 good use of the churches and other buildings belonginB to them. The activities of the charity can be divided into four principal areas.. the administration of the Sacraments and maintènance ol Divine Service. the education of young people in accordance with the Roman Catholic faith. pastoral work in propa8ation of the Roman Catholi¢ falth and charitable Work in conneciion with any of the fore8oin8 activities. Each of these is briefly considered in turn below= • Admln15tratlon of the Sacraments and malntenan¢e of Dlvlnè Sernlce In each parish, the Eucharist, which attracts a lar8e number ol worshippers, is celebrated both on Sundays and weekdays. Confessions are heard regularly and baptisms. confirmations, weddings and funerals are celebrated when requested by paflshloners. EducatSon There are parish schools for infants and juniors ai Aber8avenny and Whitehaven. which educate a substantial number of non-catholic a5 well as Catholic children. The school land artd buildings at Abergavenny belon8 to the Mission Trust, while at Whitehaven the school dinin8 hall and kitchen are loaned by the charity to the Dlocese of Lancaster. The deray act as chaplains to the schools. • Pastoral work In addition to the daily services, the cler8V Vlslt the sick and a8ed in their homes. A 8ood deal of catechetical work Is done wlth the help of volunteers and there are a number of active 8roup5 in the parishes that meet on a weekly basis, for example Blble study and choir groups. + Other charttable work All the parishes support a wide variety of charities that work both in the UK and abroad. This is done through fundraisin8 activities and weekly Collections. They also support and work with the disadvanta8ed who Ilve locally. Much of this work is done in conjunction with other Churches and institulions. Relevant pollcles Fundraislng Pollcv The charity aims to achieve best practice In the way in which it communicate5 Wlth donors and other supporters. It takes care with both the lone of its ¢ommuni¢ations arKI the accuracy of its data to minimise the pressures on supporters. It applies best practice to protect supporters, data and never Sells data, it never swaps data and ensures that communicatson preferences can be changed at any time. The charity manages its own furbdraising actlvities and does not employ the services of Profèssional Fundraisers. The charity undertakes to react to and investigate any complaints regarding Its fundraising activities and to learn from Ihem and impiove its service. During the period to 31 December 2023, the charity received no complaints about its fundraising activities. Pollcy for donatlons The parishes èach donate to other charitable causes whose aims and objectives are consistent with those of the charitv, i.e. the advancement and maintenance of the Roman Catholic religion and the relief of poverty- Donation5 are made from special collections held within each parish for each specific cause. In addilion. each parish make5 contributions towards the costs of the Roman Catholic Diocese in which it is situated and a55i5ts with mèeting the expenses of the repair and maintenance of local Roman Catholic Schools.

Belmont Abbey Mission CIO Report of the trustees for the Period l July 2023 to 31 December 2023 OBJEcfivES AND ACTIVITIES Icontinuedl Protection of Children and Vulnerable Adults Like all other organisations who seNe in the community. the trustees recognise the absolute necesslty of ensuring the protection and safety of all those the chaiity serves in any way. Thi5 means ihat the trustees, volunteers and staff en8aged in the work of the charity in Great Britain must obtain clearance from the Disclosure and Barring Service108SI. The tru5tee5 are fully committed to implementing all policies and procedures of the Catholic Safeguarding Services Agency ICSSAI. Each parish has a Child Protection Officer whl¢h opefaies under ihe safeguardFn8 authoritles of the relevant Roman Catholic Oio¢ese of wh*ch the parish is a part. Employees The charity strives to be an equal opportunitles employer and applles objective criteria to assess merit. It aims to ensure that no lob applicant or employee re¢elves less favourable treatment on the 8round5 of a8e, race, colour, nationality, religion, ethnic or national oriwn, Bender, marital status, sexual orientation or disabilitv. Future plans The trustees wlll contlnue to keep both Income and expendlture under review. Whilst there will undoubtedly be challenges ahead as a result of the long-term impact of the Covid-19 pandemic and broader geopolltlcal and macroeconomic factors, the trustees do not expect materlal concerns io arise over the ¢harity's fftnancial posltion (please see the goln8 concern section, below). Investment pollry The charity has a portfollo of Ilsted Investments wlth a markw value Ilncludin8 Cash held fof relfivestmentl as at 31 December 2023 of £2.627.530 ljune 2023.. £2,483,490). There are no restrictions on the charlty's power to Invest. The trustees. Investment advlsors are CCLA Investment Management who took over the management of the charivs portfolio In 2023 and invested the charity's funds in "the Cathollc Investment Fund" which has over a total value of over £IOOm and is designed to ali8n a diversified portfolio of assets with the faith of the Catholic Church, while deliverinB long term real returns. The investment managers are guided in their work by a faith consistent investment commlttee drawn from various Catholic dioceses and religious orders. Repre5entaiives of the trustees regularly discuss with the investment managers the performance of the porlfollo and the Investment strateBv. The tru5tees' overall policy with regard to the charlty's Ilsted Investments Is to maximise total return throu8h diversified portfollo. with thè aim of providing the level of income advised by the trustees and, at the same tlme, wlth a view to ensurin8 Capltal appreciation exceeding inflation over any five year period. The charity also owns a srnall field at the charity's Weobley Parish which s Included in investments. Due to the dlfficulty in finding comparable plots of land to estimate a market value and the disproportionate cost of a formal valuation, the trustees have decided to account for the land at historical valuation. Some of this paddock is leased to the local Weobley parish council for use as allotments. The venture is well 5UPPOrted locally and enhance5 the standin8 of the parish wiihin the villa8e. AllolmElItsoiSt Thomos ofHereford. Weobley. vl￿frOM Ihe w&¥i end ofihe church.

Belmont Abbey Mission CIO Report of the Irustees for the Period l July 2023 to 31 December 2023 OBJECTIVES AND ACTIVITIES Icontinuedl FINANCIAL REVIEW Results for the year A summary of the charity's income and expenditure can be found on p3Be 13 of the accounts. Income for the 6 month pefiod to 31 December 2023 totalled £257,855112 months to June 2023.. £528.8951. The main source of income to the charity is the weekly collection carried out in each parish. In the period to 31 Decembei 2023, general collections accounted for £169,328166%1 (June 2023." £398.234 75%). whilst special collections used to fund donation5 and 8rants accounted for a further £7.398 (June 2023.. £14,363). Other significant income sources include the proceeds frorn small scale fundraisln8 evenis- le8acies.' income from parish centre. room and hall hlre.. Investment Income and Interest recelvable. Expenditure in the period to 31 December 2023 totalled £271,757 (June 2023.. £525,440). Within this were donations amounting to £6.006 Ilune 2023.. £22.4401. Net In¢ome/lexpÈnditurel for ihe period to 31 December 2023 before Invesiment 8alns and excluding the transfer of net assets from Belmoni Mission Trust, amounted to expenditure of £13,872 Ilufie 2023.. income of £3,455). Investment gains of £145,418 Ilune 2023.. 1055es of £61.1881 resulted in a net increase in funds for the peiiod of £131.546 (June 2023.. decrease of E57,7331. Flnanclal posltlon The unrestricted funds of the charlly represent the original funds deposited by the parlshes to form a central fund, designated as the Commune Depositum, amount to £82.475 ljune 2023.. E77,0941. Despite bein8 designated, these funds are set aside In order to meet emergencies rather than for specific purposes. They are re8arded, therefore, as free reserves. The restricted funds at 31 December 2023 amounting to £3.446.820 (June 2023.. £3,320,655) represent the net assets lincludin8 land and buildin8s1 of the five parishes that form part of the charity. Under Canon Law each parish is separate financial entity and as such each is treated as a separate restricted fund (note 191. The char5tY's assets Acquisitions and disposals of fixed assets the year are recorded in the notes to the accounts. Reserves pollcy It is the trustees, current policy to retain free reserves li.e. those unrestricted fund5 not represented by tangible fixed assets, designated for specific purposes or otherwise committed) of between six months. and two years, expenditure on unrestricted funds. This 15 not regarded as excessive when Vbewed in the light of the need to retain sufficient fund5 at a central level to covei the administi3tive costs of the charity and. importantly. provide short term loans to parishes In the event of speclal projects, unforeseen events andlor emergencies. At 31 December 2023 the free reserves of the charilyamounted to£82,475 ljune 2023.. E77.0941. Given factors currentlv affething the macro-economic and geopolitical environments. the trustees are of the opinlon that these are adequate but not excessive, in spite of exceedin8 the stated reserves policy.

Belmont Abbey Mission CIO Report of the trustees for the Period I july 2023 to 31 December 2023 STRUCTURE. GOVERNANCE AND MANAGEMENT Golng concern The trustees have assessed whetherthe use of the8oin8 concern assumption is appropriate in preparing these accounts. The trustèes have made this assessment in respect to a period of one year from the date of approval of these accounts. The trustees do not expect material cOn￿rn$ to arise over the charitvs financial p051tion or for the charitV5 going concern to be threatened and the trustees are of the opinion that the charity will have sufficient resources to meet its Governance and management The tharity is controlled by its governlnB document, a deed of trust and constrtutes an unincorporated charity. The charity is established and governed by a trust deed dated 9 September 2020. The Abbot of Belmont Abbey Is the'controller, and is ex officio trustee of the charity. The Abbot appoint5 a minimum of two other trustees. The name5 of the trustees in office at the date on which this report wa5 approved and of those who served during the year are set out on page 9 of this Annual Report and Accounts. Structure and management reportln8 The overall responsibility for the charity lies ultimately with the trustees. The names of the prlests worklng In the five parSshes belonglng to the chaflty are shown above. At Abergavenny. Belmoni and Whltehaven. Ihe priests are asslsted by deacons. In all five parlshes, an enthuslastl¢ group of lay people assist in every aspect of pastoral work and In the general or8anisation. The parish priests, as eenedictine monks and members of the Belmont Abbey community, live a life of prayer, work and study, bound by the tradilional Benedictine vow5 of obedience, stability and conversion of life. Belmont forms part of the English Benedictine Congregation, which in turn is part of the worldwide Benedictine Confederatlon. Its mlsslon statement is contained in the Rule of St Benedict and in thè Consiitutions and Declarations of the English 8enedictlne Congregatlon as approved by the Holy See. General Chapter, which meets every four years, is the supreme authority in the Congregation. The day-to-day governance of the charlty Is In the hands of the Abbot of Belmont, the legltlmate Superlor of the Community, elected every eight years. The body of trustees consists at present of fwe members of the monastic communlty. chalred by the Abbot of Bèlmont. Three of these trustees are parish priests. The Abbot appoints the trustees, of whom three are elected by the Community. They are by convention also member5 of the Abbot'5 Council. The trustees meet about eleven times per annum and the Director of Finance, who is also Secretary to the trustees, attends all trustee meetings. The trustees determine the 8eneral policy of the Charity and review its overall management and tontrol. The trvstees authorrse all major financial deci510nS Wlthin the charity apart from those that require the consent of the Monastic Community in accordance with the Constitutions of the English Benedictine Constitution. Consent rs required for any project involving extraordinary expÈnditurÈ ex￿edIng £160,fKM) or expenditure on rep3ir5 and restorations of buildings exceeding £160,LKKI. A charity benefits frorn the expertise that tan be provided by a varied body of trustees. A5 the trustees can only be chosen fTQrn a relatively small group, ad hoc svbcommittee5 of trustees and lay people exist to supplement the knowledge and skills offered by the trustees. reporting back to the trustees. No major decision is taken without consulting The Chapter. which is composed of all solemnly professed members of the Community.

Belmont Abbey Mission ao Report of thè trustees for the Period l July 2023 to 31 De¢ember 2023 sTRU￿URE. GOVERNANCE AND MANAGEMENT Icontinuedl Tralnlng of trustees At each of the meetin85 of the trustees throughoul the yèar, held in the various parishes, recent changes and developments in charity law. in financial strategy, and in questions relating lo health and safely are discussed and, if necessarv, implernented. A number of the trusiees attend in-service training days provided by the dioceses and by the local education authorities in which they are siluated. The trustees remain satisfied with the quality of financial and legal advice given to thern by their professional adviseTs, and are able to bring to this charity the expertise they possess through their work wlth othef Charities and charitable bodies. Statement of trustees, responsibilities The trustees are responsible for preparing the trustees. report and account5 in accordance with applicable law and United Kin8dom Accountln8 Slandards Iunited Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England and Wales requires thetru5tees to prepare accounts for each financial year which give a true and fair view of the state of affairs of the charity and of the income and expenditure of the chaiity for thai year. In preparlng account5 the trustees are required to: select sultable accountSn8 policle5 and then apply them consi5tentty,' observe the methods and principles of A¢¢ountin8 and Reportlng by Chafltie5: Statement of Recommended Practice applicable to charities preparin8 their accounts in ac￿rdanCe with the Flnanclal Reportln8 Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021: make judgements and estimates ihat are reasonable and prudent- state whether applicable United Kingdom Accounting Standards have been followed, subject to any material departures disclosed and explalned in the ac¢ounts- • prepare the accounts on the goin8 concern basis unless it IS bnappropriate to presume that the charlty w511 continue In operation. The trustees are responsible for keeping proper accounting records which disdose with reasonable accuracy at any time the financial position of the charily and which enable ihem io ensure that the accounts comply with the Charities Act 2011, the relevant Charity IAccounts and Reports) Regulations 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 irregular4ties. Key mana8ement pèrsonnel The trustees consider ihat they comprise the key management of the charity in charge of directing and controllin& running and operatin8 the charity on a day to day basis. The six trustees are parish priests in the parishes operated by the charity. The trustee5 receive no remuneration or ddition31 reimbursement of expenses in connection with their duties as irustees to ihe charity. The Parish Priest5 are all members of Belmont Abbey. The English Benedictine Cong¥egation of ihe Order of St Beneditt, and their living and personal expenses are borne by that charity known as Belmont Abbey General Trust.

Belmont Abbey Mission CIO Report of the trustees for the Period l July 2023 to 31 December 2023 sTRU￿URE. GOVERNANCE AND MANAGEMENf Iwntinuedl Rlsk management The trustees have assessed the major risks to which the Charity is exposed, in particular those relating to the specific operational areas of the charity. its investrnents and its finances. The trustees believe that by monitoring reserve levels, ljy ensuring controls exist over key financial systems. and by examining the operational and business risks faced by the charity. they have established effective systems to mitigate those fisks. The tiustèès r￿l￿W a risk management matrix annually, which includes such potential rlsks as the loss of key staff, disaster recovery and reputational risk. The key ¥isks for the charity. as identified by the trustees, are described below to8ether with the princlpal ways In whlch they are mitlgated: Loss of key management The trustees are aware that they are very dèpendent on certaln key people and ihe Implications of losln8 these people would be serious. The trustees Consider ihat stron8 SUPPOrt from financial adviser5, training of trustees, and on80in8 discusslon of way5 of li8htenin8 the load of the Abbot will all mitigate this rlsk. In addltlon the EnBllsh 8enedictine Con8re8ation, of which the Abbey Is a member. has developed structures of conBre8ational support, Including the lending of personnel. io assist any parishes who find them5elve5 in difficultie5. Dependence of In¢ome from Investments The charity relie5 to a lar8e extent on the returns from Its Investment portfolio to cover its out8oin8s. The performance of the investment portfollo and the Invesiment Slrate8y are reviewed in meetings of the trustees and In regular meetings with the investment mana8ers, takin8 into account current and future political and economlc uncertainiies. Thls risk and it5 mitl8ations are especially important at the present timegiven the Covid-19 pandemic. Protectlon of Chlldren and Vulnerable Adults Llke all other organisations who serve in the Community, the trustees reco8ni5e the absolute necessity of ensurlng the protectlon and safety of all those the charlty serves in any way. This means that members engaged in any ministry In Great Briiain must obtain clearance from the Oisclosure and BarrSng Service IDBSI. The trustees are fully cornmitted to implernentinB all policies and procedures of the Catholic Safe8uardinB Advisory Service ICSASI. • Volunteers The trustees are very grateful to the many volunteers who have 8lven thelr tlme to the charity within the indlvidual parlshes over the past year and who have provided invaluable assistance.

Belmont Abbey ML55ion CIO Report of the trustees foi the Period l July 2023 to 31 December 2023 REFERENCE AND ADMIN￿TrA￿vE oEfAILS Reglstered Charlty Number: 1191221 Prlndpal Address.. Belmont Abbey Ruckhall Lane Hefeford Herèfoidshire HR2 9RZ Trustees Rt. Rev Dom P. Stonham, B.A.,S.T.B. (resigned 4 June 20241 Rt. Rev B. Thomas, OSB (appointed 4 June 20241 Very Rev Oom S. McGurk. 8.A..S.T.L. Rev Dom C. Marrison S.T.B. Rev Dom M. Carnèy Rev Dom P. Lobo Rev Oom L. Primavesi ointed l Se tember 2023 Audltor Thorne Wid8ery Accountancy Limlted 2 Wyevale Business Park Kin85 Acre Hereford HR47BS Solkltors Lambe Corner & Co 36137 Bridge Street Hereford HR4 9DJ Accountants A D Accounts ITru5tsl Limlted Rural Enieiprise Cenire Vincent Carey Road Hereford HR2 6FE In¥estment Mana8ers CCLA Investment Management Llmlled One An8el Lane London EC4R 3AB Prlnclpal Bankers National Westminster Bank PIC Broad Street Hereford HR49AH loKIv+ Approved by order of the board of trustees on ............................................. and si8ned on its behalf by.. Rt. Rev Brendan Thomas, OSB- Trustee

Report of the Independent Auditors to the Tru51ee5 of Belmont Abbey Mission CIO for the Period l July 2023 to 31 Decèmber 2023 Oplnlon We have audited the accounts of Belmont Abbey Mission CIO (the 'charitWI for the period l July 2023 to 31 December 2023 which comprise the statement of financial activitie5. the balan￿ sheet. the statement of cash flows, the principal accounting policie5 and the notes to the accounts. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards. including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in ihe UK and Republic of Ireland, (United Kingdom Generally Accepted Accountin8 Practicel. In our oplnlon, the accounts.. • give a true and fair view of the state of the charl￿5 affairs as at 31 December 2023 and of it5 income and expenditure for the year then ended,. • have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practlce.. and • have been prepared In accordance wlth the requlrements of the Charltles Act 2011. BasS5 for oplnlon We conducted our audit in accordancewith International Standards on Audilin8 IUKI IISAS IUKII and appllcable law. 0￿r respon5Ibilitie5 under those standards are further described in the auditorfs responsibilities for the audit of the accounts section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audlt of the accounts in the UK. includlng the FRCS Ethi¢31 Standard. and we have fulfilled our other ethlcal responslbllities in accordancewith these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basls for our opinion. Contluslons relatlng to golng concern In auditin8 the accounis. we have concluded that the truslees. use of the goin8 concern basis of accountin8 in the preparatlon of the accounts is appropriate. 8ased on thework we have performed. we have not Identified any material uncertainiies relatin8 to events or¢onditions that, Indivldually or collectlvely. may cast $18nificant doubt on the ¢harity'S ability to continue as a 8oin8 contern for period of at least twelve months from when the accounts are authorised for issue. Our responsibilities and the responsiblllties of the trustees wlth respect to going con¢efn are descflbed in the relevant sectlons ol this report. Other Informatlon The trustees are responslble for the other information. The other information compiises the information included in the annual report and accounts, othef than thè a¢counts and our audiior's report thereon. Our opinion on ihe accounts does not cover the other information and we do not express any form of assurance conclusion thereon. In connection with our audit of the accounts. our responsibility is to read ihe oiher information and, in doin8 so, consider whether the othÈT information is materially inconsistent with the accovnts or our knowledge obtained in the audit or otherwise appear5 to be materially mi55tated. If we identify such material inconsistencies or apparent material mlsstatements. we are required to determine whether there is a matefial misstatement in the accounts or a material misstatement of the other information. If. based on the work we have performed. we ¢on¢luile that there is a material misstaternent of this other information, we are required to report that fact. We have nothin8 to report In thls regard. io

Report of the Independent Auditors to the Tiustee5 of Belmont Abbey Mission CIO for the Period l July 2023 to 31 December 2023 Matters on whlch we are rÈquired to report by exceptlon We have nothing to report in respect of the following matters in relation to which the Charities Act 2011 requires us to report to you if. in our opinion.. * the information given in the trustees, annual report is inconsistent in any material respect with the accounts; or sufficient a¢counting records have not been kept.. or the accounts are not in agreement with the accountinB records and returns,. or we have not received all the information and explanations we require for our audlt. Responslbllltles of trustees As explained more fully in the trusteès. responsibilitie5 Statement. the trustees afe responsible for the preparation of the accounts and for being satisfied that they give a true and fair view, and for Such internal control as the trustee5 deterrnine 15 necessary to enable the preparation of a¢counts that are free from mateiial misstatement. whether due to fraud or error. In preparlng the accounts, the trustees are responslble for assessin8 the charity's ability to continue a5 a going concern, disclosing, as applicable, matters related to 8oin8 Concern and using the Boing concern basis of accountlng unless the tru5tee5 either intend to liquidate the chaiity or to cease operations, or have no realistic altefnative but to do $0. Audltorfs responslbllltles for the audlt of the accounts Our objectives are to obtain reasonable assurance about whether the accounts as a whole are free from materlal misstatement, whether due to fraud or error, and to issue an auditorfs report that includes our opinion. Reasonable assurance Is a hlgh level ol assurance, but is not a guarantee that an audit conducted in accordance with ISAS IUKI will alway5 detect a material rnis5tatement when It exisis. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economlc decisions of users taken on the basls ol these account5. Irre8ularitie5, including fraud. are Instances of non-complian￿ with laws and regulations. We deslgn procedures In Ilne with our responsibilities. outlined above, to delect material misstatements in respect of irregularities, in¢ludln8 fraud. The extent to which our procedure5 are capable of detecting irfegularilies, includin8 fraud, is detailed below. Our approach to identifying and assessing ihe risks of material misstatement in respect of irregularities, Including fraud and non-¢omplian¢e with laws and re8ulation5, was as follows: • the engagernent paitner ensuied that the engagement team collectively had the appropriate competence, capabilities and skills to identify or reco8nise non<ompliance with applicable laws and regulations,. we ideniified the laws and regulations applicable to the charity through discussions with those charged with governance and other management, and from our knowledge and experience of the sector.. we focused on specific laws and regulations which we considered may have a direct material effect on the accounts or the operations of the charity. includin8 Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to Charities Pfeparing their accounts in accordance with the Financial ReportinÉ Standard applicable in the United Kingdom and Republic of Ifeland IFRS 1021 ICharitie5 SORP FRS 1021 issued on 16 july 2014. the Financial Reportin8 Standaid applicable in the UK and Republic of Ireland IFRS 1021 and the Charities Act 2011.. we assessed the extent of compliance with the18ws and regulations identified above through making enquiries of trustees and inspecting legal correspondence. We corroborated our enquiries thiough oui review of tru5tee5' minutes; and dentified laws and regulations were cornrnunicaled wilhin the engagement team regularly and the team remained alert to instances of non-compliance throughout ihe audit. li

Report of the IndepÈndÈnt Auditors io the Trustees of Belmont Abbey Mi55ion CIO for the Period l July 2023 to 31 Decernber 2023 We a55esseil the susceptibility of the Charitws accounts to material misstatement. includin8 obtaining an understanding of how fraud mi8hi occur, by.. making enq￿IrieS of trustees as to their knowledge of actual, suspected and alleged fraud,. and consldering the internal controls in place to mitigate risks of fraud and non-compliance with law5 and re8ulations. To address the risk of fraud through management bias and override of controls, we.. + performed analytical procedures to identify any unusual or unexpected relationships., performed substantive testing of èxpenditure including testing the authorisation thereof.. and a55essed whetherjud8ements and as5umption5 made in determining the a¢countinB estimates were Indlcatlve of potential bias. In response to the risk of fjrre8ularilies and non-compliance with laws and re8ulatlons, we desl8ned procedures whlch Included, but were not limited to.. agreeing financial statement disclosures to underlyinB supporting documentation,. reading the mlnutes of mèetings of those charged with govein3nce.' There are inherent limitations in our audit procedures described above. The more rernoved that laws and regulations are from flnanclal transactions, the less likely it is that we would become aware of non-compliance. Auditing standard5 also Ilrnit the audit procedures required to identify non-compliance wilh13ws and regulatlons to enquiry of the trustees and other mana8ement and the Inspectlon of regulaiory and le8al Correspondence. If any. Material mlsstatements that arise due to fraud can be harder to detect than those that ar15e from error as they may involve deliberate concealment or colluslon. A further description ol our responsibilities for the audit of the accounts is located on the Financial RepoTtln8 Council's website at www.fr£.org.uklauditorsresponsibilities. This description forms part of our auditor's report. Use of our report This report is made solely to the charIt￿S Iru5tees, as a body, In accordance with sertlon 144 of the Charltles Att 2011 and wlth regulations made under section 154 of that Act. OUT audit work has been undertaken so that we might State to the charlty's trustees those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitied by law, we do not accept oi assume responsibility to anyone other than the charity and the charity's trustees a5 a body, for our audit work, for this report, or for the opinion5 we have formed. ce Thorne Widgery Accountancy Llmited Statutory Auditor 2 Wyevale Business Park Kings Acre Hereford HR4 7BS ThoTne Widgery Chartered Accountancy Limited is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006. 281814 12

Belmont Abbey Mission CIO Statement of Financial Activttie5 for the Period I july 2023 to 31 Oecember 2023 6 month perlod l July 2023 to 31 Dec 2023 Total funds Year Ended 30 June 2023 Total funds Unrestrict general tund Re5trirted general funds Notes Income from., Donations and legacles Charitable activities Other activities Investments and interest receivable Total Iricome 176.726 7.505 1S.849 55.253 255.333 176,726 7.505 15.849 57.80S 257.885 412,927 20,215 22.313 73,440 528.895 2,552 2,552 Expendlture on: Raising funds Charliable a¢livilles'. Support of the Parishes and thelr mlnlstry Total e¥pendlture 25,742 270,673 270,673 271,757 271.757 499,698 525,440 1,084 Net Incomel lempendlturel before Inve5tment18Jlns11105ses 115,3401 113.8721 3,455 Net gains/ Ilossesl on investmenis 13 3.913 141.505 145,418 161,1881 Net Incomel lexpendlturel and net movement In funds S.381 126,165 131,546 157,7331 Reconclllatlon of fund5 Total funds brought forward 77,094 3.320.655 3.397.749 3,455,482 Fund balan¢e$ carrled forward 82.475 3,446.820 3,529,295 3,397,749 The charity ha5 no Teco8ni5ed gains and losses other than those shown above and therefore no separate statement of total recognised gains and losse5 has been prepared. 13

Belmont Abbey Mission CIO Balance Sheet for the Period l July 2023 to 31 December 2023 December lune 2023 Total funds 2023 Total funds Notes Flxed assets Tangible fixed assets Listed Investments Investment property 12 13 14 ,249 2.627.530 612,690 2,483.490 4,000 3,100,180 3,220,779 Current assets Debtors Is 296,139 31.581 327,720 Cash at bank and In hand 146,016 352,016 Credltors: amounts falling due within one year 16 143,5001 130,1511 Net current assets 308.Si6 297,569 Total net assets 3.529.295 3,397,749 Funds Unrestricted funds Restricted funds 19, 20 82,475 3,4146,820 3.529,295 77,094 3,320,655 3,397,749 qs>151 qgLk,, The financial statements were approved by the Board of Trustees and authorised for issue on ............ . were Signed on its behalf bv.. Rt. Rev Brendan Thomas, OSB- Trustee 14

Belmont Abbey Mission CIO Cash Flow Statement for the Period l July 2023 to 31 December 2023 Period l July 2023 to 31 Dec 2023 Year Ended 30 lune 2023 Notes Cash flows from operatlng artlvltles Cash generated from operation5 66.246 1187,1681 Cash flows from Invest5n8 actlvStles Purchasè of tangible fixed assets Purchase of listed investments Sale of listed investments Investment Income and Interest recelved 110,9981 114,8641 12,433,149) 2.196.924 73,440 57,805 Nel cash used In Investing actlvities 46W7 1177,6491 ChJn¥e In cash and osh equlvalents In the reportln8 perlod 113.053 1364,8171 Cash and tash equlvalènts at the beglrtnln8 of the reportln8 perlod 32.963 397,780 Cash and cash equSvalents at the end of the reportlng pèrlod 146.016 32,963 15

Belmont Abbey Mission CIO Notes to the Cash Flow Statement for the Period I july 2023 to 31 December 2023 RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING AcllviTIES Perlod l July 2023 Year Ended to 31 Oec 2023 30 June 2023 Net Income for the reportlng perlod las per the Statement ol Flnandal Actlvltlesl Adjustments for: Depreciation charges IGainl/losses on investments Investment income and interest received Decrease in stock5 Oecrease in debtors Decrease In creditors 131.546 157,7331 34,440 1145.4181 157,8051 66,011 61,188 173.4401 1,120 1183.5141 18001 90,139 13,344 Nei cash provlded by operatlons 66,246 1187,1681 ANALYSIS OF CASH AND CASH EQUIVALENTS December 2023 June 2023 Cash In bank Portfolio 146,016 31,581 1,382 Total cash and cash eoulvalents 146,016 32,963 ANALYSIS OF CHANGES IN NET FUNDS Atl July 2023 At31 December 2023 Cash flows Net cash Cash and cash equivalent5 32,963 113,053 146.016 16

Belmont Abbey Mission 00 Notes to the Financial Statements for the Period l July 2023 to 31 December 2023 ACCOUNTING POLICIES Basls of preparlngthe flnanclal statements The financial siatements of the charity, which is a public benefit entity under FRS 102. have been prepared In accordance with the Charities SORP IFRS 1021 'Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to thaiities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021, Financial Reporting Standard 102 'The Flnanclal Reporting Standard applicable in the UK and Republic of Ireland. and the Charities Act 2011. The financial statement5 have been prepared under the historical cost ¢onveniion with the exception of investments which are included at market value. The accounts are presented in Sterling and are rounded to the nearest Pound. All recognised gains and losses afe included in the statement of financial activitie5. Crltlcal accountlng estlmates and areas of ludgemeni Preparation ol the accounts requires the trustees and management to make significant judgements and estimates. The Items In the accounts where these judgements and estimates have been made include.. estimatin8 the useful economic Ilfe of tangible fixed assetS- • determlnln8 the probability ol the receipt of legacies which are measurable and to whlch the charlty Is entitled., estSmatlng the fair value of Investment property,. and estimating future income and expenditure for the purpose of assesslng going concern Isee below). Assessment of 8oln8 concern The trustees have assessed whether the use of the 8oin8 concem assumption is appropriate in preparbng these accounts. The tlustees have made this assessment in respect io a period of al least one year from the date of approval of these accounts. The trustees do not expect material Concerns to arise over the charity's financial position or for the charitV'5 80ing concern to be threatened and the trustees are of the opinion. given the chariws net assets and cash reserves relative to annual expenditure, that the charity will have sufficient resources to meet its liabilities as they fall ¢Juè. 17

Belmont Abbey Mission CIO Notes to the Financial Statements- continued for the Period l July 2023 to 31 December 2023 ACCOUNTING POUCIE5 Icontinuedl Income Income Is recognised in thè year in which the charity has entitlernent to the income, the amount of in¢ome can be measured reliably and it is probable that the income will be received. Income comprises donations. legacies. investment income. interest receivable, income from the sale of books, votives and candles, funerals and church yard income, parish centre. hall and room hire; and other mi5cellaneou5 income. Donations. Gift Aid tax recoverable arè recogni5ed when the charity has confirmation of both the amount and settlement date. In the event of donations pled8ed but not received, the amount is accrued for where the receipt Is considered probable. In the event that a donation is subject to conditions that require a level of performance before the charity is entltled to thefunds. the income Is deferred and not recognised until eithei those condltions are fully met, or the fulfilment of those condition5 15 wholly wilhin the control ol the charity and it 15 probable that those conditions will be fulfilled in the reporting period. In accordance wlth the Charltles SORP FRS 102 volunteer tome Is not recognised. Legacies are included in the statement of financlal actlvlties when the charlty Is entltled to the legacy. the executors have established that there are sufficient surplus assets In the estate to pay the legacy. and anv conditlons attached to the legacy are within the control of ihe chaflty. Entitlement is taken as the earlier of the date on which either.. the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor to the charlty that a disiribution will be made. or when a distributlon Ss received from the estate. Receipt of a legacy. in whole or in part, is only Considered probable when the amount can be meastsred reliably and the charity has been notified of the executor's intention to make a distribution. Where le8acie5 have been notified to the charity. or the charity is aware of the granting of probate. but the criteria lor income recognition have not been met. then the leBacy Is treated as a contingent asset and dis¢10sed if material. In the event that the gift Is in the form of an asset other than ¢ash or a financial asset traded on rec08n1s￿ stotk Èxchange, reco8llltion is subject to the value of ihe 8ift being reliably measurable with a degree of reasonable accuracy and the title of the asset having beinB transferred to the charltv. Dividends are recognised once the dlvidend has been dedared and notification has been received of the dividend due. Interest on funds held on deposit is included when receivable and the amount can be measure(I rellably by the charlty.. this is normally upon notification of the interest paid or payable by the bank. Income from sale of books, votive5 and candles, funerals and churth yard Income. parlsh centre, hall and room hire. and other miscellaneous income Ss measured at falr value of the consideration received or receivable, excluding discounts. 18

Belmont Abbey Mission CIO Notes to the Financial Statements- continued for the Period l July 2023 to 31 December 2023 ACCOUNTING POLICIES Icontinued ExpendSture Liabilities are recognised as èxpenditurè as soon as there is a legal or ¢onsiru¢tive obli8ation committing the charity to make a payment to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliablv. All expenditure 15 accounted for on an accruals basis. Expenditure comprises direct Costs and support Costs. All expenses. including support costs. are allocated or apportioned to the applicable expenditure headings. The classification between activities is as follows-. l. The c05t of raisin8 funds relates to eypenditure incurred in organising and holdin8 small scale fundraising events, managing investment properties and costs in connection with the management of the charitV'5 listed Investments. 2. The costs ol charitable activities comprise expenditure on the charitvs primary purposes as described in the trustees, report and include: i. Charitable donations which comprise gifts to other charitable causes with aims and objectives which are consistent with those of the charity i.e. the advancement and maintenance of the Roman Cathollc religion and the rellef of povefly. Donations afe made from Special Collections held wlthin each parish for each specific cause. In addition, each parish makes contributions towards the costs of the Roman Catholic Diocese in which it is situated and assists with meeting the expenses of the repair and malntenance of local Roman Catholic Schools. 11. Expenditure on the support of the charIt￿S fNe parishes includes expenditure on the upkeep of parish buildings lincludlng churches and parishes). staff and related costs, the livjng and personal expenses of parish priests. etc. lo¢)tlon of support and gOVefnan¢e ¢oMs Support Costs represent indirect ¢h3ritable expenditure. In order to carry out the prifflary purposes of the charlty it is necessary to provide support in the form ol financial procedures. provision of office services and equipment. Governance costs comprise the costs involving the public accountability of the charity lincludin8 audit cost51 and costs in respect to its compliance with regulation and good prattice. Governance costs are apportioned using percentages based on the expenditure incurred on the aclivities of the charitv. All expenditure on support of the chariws five parishes a￿ allocated to support of the parishe5 and their ministry as costs in re5ped io raising fund5 and giving donations are Considered to be minimal. TangSble fixed assets All assets costing more than £l,LKK) and with an expected useful life exceeding one year are capitalised. l. Inalienable land and buildin85 The freehold of the land and buildings legally owned by the charity and occupied rent free on behalf of the trustees of the governing body of Catholit voluntary-aided schools. which afe separate charities and publicly funded. are valued at £nil. The trustees consider that no meaningful value can be attributed to these assets, sinte they are not used directly by the chafity. do not Eenerate income and cannot be disposed of in the open market or put to alternative use while such occupation, which may be indefinite, continues. 19

Belmont Abbey Mission CIO Notes to the Financial Statements- continued for the Period l July 2023 to 31 December 2023 ACCOUNTING POLICIES Icontinuedl Tanglble fiMÈd assets Icontlnuedl 2. Churches and similar properties The trustees are the legal owner5 of churches and similar land and buildings situated within the seven parishe5 operated by the charity. In the event of the charity ceasin8 Its work in any of these parishes. the trustees would consider themselves obligeil to allow such assets io be used indefinitely to meet the needs of the parish for its church and similar property- A5 such assets are not, therefore, 5U5ceptible to meaningful valuation and there is no reliable information as to their Cost, they are excluded from the aecounts. 3. Functional freehold propertv Freehold properties used for the direct charitable work of the charity afe included In the accounts at cost or at a valuation determlned as ai the date of acquisition, based on open market value, and adjusted for the cost of addition5 andlor irnprovements since acquisition. The valuations have been deemed cost under the transitional arran8ements set out in FRS 102 and will apply going forward with additions accounted for at cost. Functlonal freehold propertles are depreclated at a rate 012% per annum on a stralght Ilne basis In order to write the buildings off over their estimated useful economic life to the chafltv. 4. Freehold bulldlng Improvements Improvements to functional freehold buildings are Included In the accounts at cost as Incurred. The lrnprovements, once complete, are depreciated at IO% per annum on a stralght Ilne basls. In order to wrlte the cost of these improvements off over thelr expected useful life. 5. Other tangible fixed a55ets Other tanBible fixed assets are capltallsed and depreclated at the followlng annval rates In order to wrlte them off over their estimatÈd useful lives.. Plant and fixtures IO% per annum based on cost • Office equipment IO% per annum based on cost Motor vehlcles 25% per annum based oft cost Flxed asset Investments Listed investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. The charity does not acquire put options. dertvatives or other complex financial instruments. As noted above, the main form of financial risk faced by the charity is that of volatility in equity markets and investment markets due to wider economic conditions. the attitude of investors to investment rlsk. and changes in sentiment concerning equities and wiihin particular sectors oi sub sectors. Fixed asset investments comprising long terni deposits are state(l at the value of the initial deposit as this wlll be retufned in lull upon maturity. 20

Belmont Abbey Mission CIO Note5 to the Financial Statements- continued for the Period l July 2023 to 31 Decembec 2023 ACCOUNTING POLICIES Icontinuedl Investment property Fixed asset investments comprising freehold land are included in the accounts at a valuation based on trustee's estimation of their market value Stocks Stocks are valued at ihe lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Taxatlon Belmont Abbey Mi55ion CIO is a registered charity and therefofe is not liable to income lax or corporatlon tax on income derived from its chariiable activities, as li lalls within the various exemptions available to re8lStered chailtles. Fund accountlnB Unrestricted funds can be use<1 In accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for partlcular restrl¢ted purposes within the objects of the charity. Restrictions arlse when specifled by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial staternents. Penslon ¢osts and other post-retlrement ljeneffts The charity operates a defined contribution pension stheme. Contrlbutlons payable to the chaflty's penslon scheme are char8ed to the Statement of Finandal Aciivities in the period to which they relate. Debtor$ Debtor5 are iecognised at their settlement amount. less any provision for non-iecoverabllity. Prepayments are valued at the amount prepaid. They have been diKounted to the preseni value of ihe future Cash receipt where such discounting Is material. Cash at bank and In hand Cash at bank and in hand represents 5uth accounts and instruments that are available on demand or have maturity of less than three months from the date of acquisition. Deposits for more than three months but less than one year have been disclosed as short ierm deposits. Cash placed on deposit for more than one year is disclosed as a flxed asset investment. Credltors and provSslons Creditor5 and provisions are reco8nised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit wtll be requirèd in sèttlemènt, and the amount of the settlement can be estimated ieliably. Creditors and provision5 are recognised at the amount the charity anticipates it will pay to settle the debt. They have been discounted to the present value of the future cash payment where such discounting is material. 21

Belmont Abbey Mi55ion CIO Notes to the Financial Statements- continued for the Period l July 2023 to 31 Deternber 2023 DONATIONS AND LEGACIES Restricted funds Perlod I July 2023 to 31 Dec Year to 30 2023 lune 2023 Collections Ilncludlng 8Ift aid) Glfts and legacies Special collections 169.328 398,234 330 7,398 176,726 14,363 412,927 OTHER ACTIVITIES Restrlcted fund5 Perlod I July 2023 to 31 Dec Year to 30 2025 lune 2023 Rent Sale of book5, papers, votlve5 and candle5 Fundraisin8 4.007 3.179 8,663 15,849 8,906 6.069 7,338 22.313 INVESTMENTS AND INTEREST RECEIVABLE Perlod I July 2023 Re5trlcted to 31 De¢ funds 2023 Unre5trlcted funds Deposit account Interest Portfolio income 939 939 1,613 2.552 55,253 55.253 56,866 57,805 Unrestricted funds Restricted Year to 30 funds June 2023 Deposit account interest Gift aid interest Portfolio income 212 212 1.752 2,055 4,019 1.752 71,476 73,440 69,421 69,421 22

Belmont Abbey Mission ao Notes to the Financial Staiements- continued for the Period I july 2023 to 31 December 2023 INCOME FROM CHARITA8LE AcnvrnES Re5trlrted funds Period I July 2023 to 31 Dec Year to 30 2023 June 2023 Other income Funerals and church yard Income Restoratlon contributions 3,888 15,5C¥) 827 6.700 7.505 20,215 EXPENDITURE ON RAISING FUNDS Perlod I July 2023 to 310e 2023 Unrestr5cted Restrlcted Investment portfolio management Year 10 30 Unrestricted Restrlcted lune 2023 Investment portfolio mana8ement Old debt written off Total expendlture on raising funds 512 7.934 8,446 17.296 17,808 7,934 25,742 17,296 EXPENDITURE ON CHAR￿ABLE ACTIVITIES Period I July 2023 Unrestrlcted Re5trlcted to 31 Dec funds funds 2023 Direct costs 323,075 323,075 6,006 6,006 29,372 30,456 358,453 359,537 Donations Support costs- governance and finance costs 1.084 1,084

8elmL)nt Abbey Mission CIO Notes to the Financial St3tement5- continued for the Period l July 2023 to 31 December 2023 EXPENDtruRE ON CHARITABLE Acriv￿lEs Icontinuedl Unre51ricted Restricted Year to 30 funds funds June 2023 Direct costs 440,820 22,440 34,767 498,027 440,904 22.440 36,354 499,698 Donations Support C05ts- governance and finance costs 1,587 1,671 NET INCOME FOR THE YEAR BEFORE INVESTMENT GAINS Perlod I July 2023 to 31 De¢ Year to 30 2023 June 2023 Net Income for the ye•r before InTftStment 8alns Is stated after Ihar¥lft8: Staff cos(s Auditor's remuneratlon 8,947 15,120 34,440 18,498 19.240 66,011 Depreciation TRUSTEES, REMUNERATION AND BENEFITS The flve tru5tee5 are paTlsh PTle5ts In the parlshe5 operated by the charlty. As such, certaln Ilvlng and personal expenses durlng the year are borne by the charity. No trustee received any remuneratlon or relmbursement of expenses in connection with their (Juties as trustees durin8 the current or previous year. There were no trustees. expenses paid lof the period l July 2023 to 31 December 2023130 June 2023.. £nlll. io. STAFF COSTS Perlod I July 2023 to 31 Dec 2023 Year to 30 June 2023 Wages and salaries 8.947 18.498 The avera8e number of employees Iluring the pèriod l July 2023 to 31 December 2023 was I (June 2023.. 11. No employees recelved emoluments in excess of £60.CKK) for ihe period l July to 31 December 2023 (June 2023.. none). 24

Belmont Abbey Mission CIO Notes to the Financial Statements- continued for the Peiiod l July 2023 to 31 December 2023 ii. COMPARATIVES FOR ThE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted Restricted generol generol fvnd funds Total fvnds Notes Incomelmm.. Donotions ond legocies Cht7ritoble octivities Other troding octtivities Investments ond interest receivoble Totalln¢ome 412,927 20.215 22.313 69,421 524,876 412,927 20,21S 22,313 73,440 528,895 4,019 4,019 Expendlture on.. Ruisingfunds Cht7ritable activities Support of the Pari5he5 and thelrmlnlstry Tot¢71 expendlture 8,446 17,296 25,742 1,671 10,117 498,027 515,323 499.698 525.440 Net In￿ffle (expendlturel befvfe Investment ￿1n5 (6.098J 9,553 3.455 Net105ses on Investments (1.758J 159,430J 161,188) Net Income lexpendlturej ond net movement Infvnds (7.856) 149.8779 157,733) Reconrlll¢7tlon offvnds Totolfunds broughtforword 84.950 3.370,532 3,455,482 Fund bulonces Corrledfvrword 77.094 3.320,655 3,397,749 25

Belmont Abbey Mission CIO Notes to the Flnancial 5tatements- continued for the Period l July 2023 to 31 Decernber 2023 12. TANGIBLE FIXED ASSETS Freehold property Plant and Flxtures Motor mathlnèry and flttIn￿ vehlcles Total Cost At l July 2023 Additions 468,885 106,308 555,618 91.734 1.222.545 10,999 10,999 555,618 102.733 1,233.544 At 31 December 2023 468.885 106,308 DepreclatSon At l July 2023 Charge for the year At 31 December 2023 191.215 4,404 195,619 106,308 233,347 25.256 258,603 78,985 4,780 83,765 609,855 34,440 644,295 106,308 Net book value At 31 December 2023 273.266 297,015 18,968 589.249 AI 30 June 2023 277.670 322.271 12.749 612,690 13. FIXED ASSET INVESTMENTS De¢ 2023 June 2023 Llsted Investments OpeninB market value Additlons at cost Proceeds from the sale of Investments Realised gain on disp05a15 Unrealised gain/ I10ss1 on revaluaiion Closing market value 2W2,112 2,307,076 2.433,148 12.196.924) 166,651 1227,8391 2,482,112 145,418 2.627,530 Cash held for reinvestment 1,378 Total value of listed investments 2.627,530 2.483,490 Cost of listed investments 2.524.740 2.524,740 26

Belrnont Abbey Mission CIO Notes to the Financial Staiements- tontinued for the Period l July 2023 to 31 December 2023 13. FIXED ASSET INVESTMENTS Icontinuedl Listed investmènts held al 31 Decernber 2023 comprised the following: Dec 2023 lune 2023 Dec 2023 June 2023 Overseas equities UK equitie5 UK fixed interest Infrastructure and operatlng assets Cash and near cash Propertv Contractual and other income Prlvate equity and other 63.25 6.29 64.33 1,690,291 1,596,742 9.72 255,396 241.262 7.94 208,626 197.080 171,315 161,834 134,530 127,084 85,395 80.669 62,010 58,578 19,967 18,863 ICQ.OJ 2,627,530 2,482,112 9.42 6.52 5.12 3.25 2.36 1.22 1.22 0.76 100.00 14. INVESTMENT PROPERTY Market value at I july 2023 and 31 De￿rnber 2023 4.000 The charity owns a small plot of land èt the charitls Weobley Parish, which is included in investments. Due to the difficulty in findin8 comparable plots of land to estimate a market value and the disproportionate cost of a formal valuation, the trustees have decided to retain the above historical valuation. 15. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR De¢ 20Z3 lun 2023 Glft ald receivable Downside Abbey debtor Other debtors 132.752 146,535 140,413 9,191 296,139 73,248 206,000 27

Belmont Abbey Mission CIO Notes to the Financial Statements- continued for the Period l July 2023 to 31 December 2023 16. CREDITORS.. AMOUNTS FALUNG DUE WITHIN ONE YEAR Det 2023 Jun 2023 Expense creditor5 and accruals Deferred inwme 43.%)D 29,404 747 43,%KI 30,151 17. TAXATION Belmont Abbey Mi55ion CIO 15 a Teg15tered charity and therefore is not liable to income tax or corporation tax on income derived from its charitable activities. as it falls within thevarlous exemptions available to reglstered ¢harltles. 18. LEASING AGREEMENTS Mlnlmum lease payments under non-can¢ellable operailng leases fall due as follows.. Oec 2023 Jun 2023 Within one year Between one and five years 886 2,214 3,100 886 3,100 3,985 19. A14ALYSIS OF NET ASSETS BETWEEII FUNDS Total funds 31 Oec Unrestrlrted fund5 Restrlrted funds 2023 Tangible fixed assets Investments Current assets 589,249 2,511,893 387,981 142.3031 3A46,820 589,249 2,631,530 352,016 143,5001 3,529.295 119,637 135,9651 11.1971 82.475 Current liabilitles Totulfunds 30June Unrestricted Restricted fvnd funds 2023 Fixed ossets 612,690 2.371.766 365,505 129,3061 3,320,655 612,690 2.487,490 327.720 130,1511 3.397.749 lftvestments 115.724 137.7851 18451 77,094 Current assets Current liobilAties 28

Belmont Abbey Mission CIO Notes to the Financial Statements- continued for the Period l July 2023 to 31 December 2023 20. MOVEMENT IN FUNDS At l July 2023 At 31 Dec 2023 Income Expendlture Galns Unrestrlcted fund General fund 77,094 2.552 (1,0841 3,913 82.475 Re5trlrted funds Abergavenny parish Belmont parish Weobley parish Whltehaven parish Little Malvern Central fund 772.616 934.126 182.533 IA197,430 319.569 14,381 3,320.6SS 73.794 55.965 20.783 77,593 27.198 1100.3151 134.87SI 128.6501 183.1341 123,699) 33,067 39,980 7,812 46.969 13,677 779,162 995,196 182.478 1.138,858 336.745 14,381 3,446,820 255,333 1270.6731 141.505 Total funds 3,397.749 257.885 1271,7571 145,418 3.529.295 Atljuty 2022 At30June 2023 Incotne Expenditure Gains Unrestrktedfvnd Genemllund 84,950 4.018 (10,116) 11,758) 77,094 Restrktedfvnds Abergovef7nyporish Belmont purish Weobley purish Whitehaven porish Little Molvern p(Jrish Centrolfund 810.288 897.233 185.612 1,136.696 326,322 14.381 3.370,532 144.586 124,952 55,759 151. 47,676 (167,909J (72,171J 155.552J {171.041} f48.651) (14,349) 115,888) 13,286) {20,129J 15,7783 772,616 934,126 182,533 1,097.430 319,569 14,381 3,320,655 524.877 f515.324J (59,430J Tot¢71Aunds 3.455.482 528,895 (525,440) 161.188) 3,397.749

Belmont Abbey Misslon CIO Notes to the Financial Statements continued for the Period l July 2023 to 31 December 2023 21. RELATED PARTY DISCLOSURE During the period l Jtsly 2023 to 31 December 2023. the Charity paid lèvy ¢harÈè% of £24.936 lyear ended 30 June 2023.. £48,3311 and rent of £7,5C(I (year ended 30 June 2023- £15,IXQI to Belmont Abbey General CIO. There were no othèr related party transactions during the perlod l ju￿ 2023 to 31 December 2023 Iyear ended 30 June 2023: none).

Belmont Abbey Mission CIO Detailed Statement of Financial Activities for the Period l July 2023 to 310ecefflber 2023 These p38es do not form part of the statutory accounts. 6 month period l July 2023 to 31 Dec 2023 Year Ended 30 June 2023 INCOME Oonatlons and legacles Collections (including gift aldl Gifts and legacies Special collections 169.328 398,234 330 7.398 14,363 176.726 412,927 Other a<tl¥ltSe5 Rent 4.007 3.179 8,663 IS￿49 8,906 6,069 7,338 22,313 Sale of books, papers, votives and candles Fundraising Investment Income Deposit account interest Glft aid Interesi Portfollo Income 939 212 1,752 71,476 56A66 57W5 73,440 CharStable actlvltles Other income Funerals and church yard income Restoration contributions 3,888 15,5frJ 827 6,700 7.SOS 20,215 Total Income 257,885 528,895 EXPENDITURE Ralsln8 funds Investment portfolio management 17,808 Other actlvStles Old debts written off 7,934 Charltable a¢tlvltles Wages Motor expenses Special collections 8,947 5.942 8.536 18.498 12,839 19,298 Charitable activities carried forward 23A25 50,635 31

Belmont Abbey Mission CIO Detailed Statèrnent of Financial Aciivities for the Period l July 2023 to 31 December 2023 These pages does not form part of the statutory accounts. 6 month perlod l July 2023 to 31 Dec 2023 Year Ended 30 June 2023 Charitable activities brought forward 23.425 50,635 Donation5 22.440 8,700 17,879 30,647 14.635 28,932 3,971 10,999 11.859 58,920 47.212 7,383 63,789 9,894 9,438 66,011 Rent 4.350 9,614 19.490 7.574 15,516 1,156 5,157 6.235 29,974 9.872 4,219 47.a47 13.782 3,144 34,440 241.301 House expenses Church rnaintenance Office expenses Insurance Sundry expenses Paper, books etc Fundraisin8 expenses Levv Light and heat Rates and water Repairs and renewals Professlonal fees Conservation costs Depreclation of tangible fixed assets 463,344 Support costs- Kovernance costs Bank char8es Audltors, remuneration Accountancy and le8al fees 1.357 15,120 13,979 30A56 2,154 19,240 14,960 36,354 Total resource5 expended 271.757 525,440 Net Incomel lempendlturel before Investment 8alns 113.8721 3,455 Investment Balns Ilossesl Realised 8ainsl Ilossesl Unrealised gains/ Ilossesl 166,651 1227.8391 161,1881 145,418 145N18 Net Incomel lexpenditurel and net movement In funds 131,546 157,7331 32