Reglstered number: CE027122 Charfty numb&r: 11964S3 THE METROPOLITAN KALLISTOS FOUNDATION CIO UNAUDITED TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024
THE METROPOLITAN KALUSTOS FOUNDATSON CIO cotrrrEKrs Page Ref&ronce and Admlnistrative Detalls of the Charfty, Its Trustees and Adv15È Trustees, R&port Independent Examinerf8 Report Statement of Financial Actlvltles Balance Sheet Notes to the Financial Statements 8-15
THE MEfROPOUTAN KALLISTOS FOUNDATION CIO REFERENCE AND ADMINISTPATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 JANUARY 2024 Trustees Mr Simon Jennlngs. Trust88 Mrs Frances Jennings. Trustee ProfessorAndrew Louth, Trustee Rev Sleph&n Platt, Trustee Company reglstered number CE027122 Charlty registered number 1196453 Reglstered offlc8 18 Warwick Street Oxford OX4 1SX Accountants Fletcher & Partners Crown Chambers Bridge Street Salisbury SPI 2LZ Banker¥ Lloyds Bank plc 25 Gresham Street London EC2V7HN Page 1
THE MEfROPOUTAN KAWSTOS FOUNDATION CIO TRUSTEES, REPORT FOR THE YEAR ENDED 31 JANUARY 2024 The Truslges present their annu report together with the financial statements of the Charity for the year lo 31 Jsnuary 2024. The Annual Report sejves the purposes of both a Trustees, tpport and a directors, report under company law. The Trustees confim that tho Annual Report and financial statements of th8 charrtable incorporated organisalion comply wth the current statutory r8quiremenls, the requirements of the ¢harills goveming docum8nt and the provisions Df the Statement of ReCmended Practice ISORPI applicable to charities preparing their accounts In accordance vAth the Financial Reporting Stsndard appli¢able In the UK and Republic of Ir8land IFRS102} (effgdive 1 January 2019}- Objectives and actlvltles a. Pollcies and objective8 Under thè constilthlon dated 8 November 2021 the obj* of the Charitable Incorporated Organisalion aTe the advancement of the OrthodDX Christlan Religion and of education in the Orthodox Christian theological tradition for the public benefit through.. 1} Establishing a library lo consist inittalty ol the book9, papers and personal memorabilia of M8tropolilan Kallistos ol Diokleia, lo promotg research into his lrfe, theological vffllings and spirilual works and mainl8ining the same a8 £ library lor the conttnuiny study of the Orth(xlox Christian RelIgn in particular. 21 Prowding theological teaching and courses in the Orthodox Christian Religion. 3} Promoting and sponsoring ledures, serninars and conferences. 4) Provlding scholarship8 to assist those stUdn9 subjects rdevanl to the Orthodox Christian Faith. 51 Co•operating with e81abli8hing and supporting higher educational institutions engaged in teaching and research in or relevant to the Orthodox Christian Farth. In setting objectives and planning for adiwties. the Tnjslees have gNen due conslderalion to general guidance published by the Charty CommissK)n relating to public benefit. including the guidance 'Publi¢ benefrt.. running a charity (PB21'. b. AGtlvhle5 undertaken to achieve oblectlvgs Whilst the eslale of The Metropolitan Kallistos is still in administration the trustees are considering where the library of books and documents might be housed permanentty and are looking into funding to enable the establishment of a library in Oxford. Page 2
THE METROPOLITAN KALUSTOS FOUNDATION CIO TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2024 Achlevements and perfomanca Financial r8Yiow a. Golng concorn The Trustees have a reasonable expectation that the Charity has adequate resources to continuo in opgralional existence for the foreseeable futuro. For this reason. they continue to adopt the going concem basls in preporing the finanaal slatemenls. Further details regarding the adoption of the going conc@m basis Gan be found in the aG¢ounting policie3. b. Reserves pollcy The Iruslees wll not undertake any commthments in r&latn to a physical rary unless fvnd1n9 has been assured. suff[ent lo cover expected costs of any contractu81 obligation and would expect lo retsin sufficient liquid fvnds in addrtion, lo cover 6 months of 9enetal Nnning costs. . FinanGial position Income in the prior year of £1,200,000 Is the minimum anticipated value of the legacy from The Metropolitan Kallislos. The books and perfodicals have been receNed but no liquid funds were released from the eslale durrng the year, The net movement in funds Ihls year after charges for depiecistion and support fees amDunted lo {£2,3321. struduro. governance and management a. Constitutlon The Metropolitan Kallislos Foundation CIO Is a charTiab Incorporated Organisation and was founded under 118 constitution dated 8 November 2021. b. Methods of appointment or •leclion of Trustees Th6 management of the Charlty is the respon81billty of th8 Truste&s who are elected and wpled under the terms of the wnstitulion. Apart from the inttial trustees. each of whom is appointed for a specrfied term, every appointed trustee must be appointed for a terrn of three years by resolution passed at a properfy convened meeb'ng Df Irusleos. In selecting indiMdua15 for appointment as tntstèes. the trustees must have rard lo the skills, knowledge and experience needed for the effectiv& administration of the CIO. Every trustee mu81 be a member of the Orthodox Church in goDd standing. Page 3
THE MEfROPOUTAN KALLISTOS FQUNDAnoN CIO TrUSTEES' REPORT(¢ONTINUED FOR THE YEAR ENDED 31 JANUARY 2024 Ststen7•ntofTru•ts••' f•#w1[ Tk Tru¥teb¥ are re8FonsltKè forwepartrvj ths Trust8 Rawt and the f4nanL4aJ gtstemenk In acd8[ wlfh Pwce appllcabl¢ law arrfj Unw lkn Aojwndng Stand&ts (Unitsd Trad0M G8nerally Aetsptod AoctsUnUJ C¢>npany rcqulres the Tnist¢8$ ID prepase ffnan( statoThnts for each ffnanclal . Llndw cornpany law, th• Truste&9 must notapprov8 Ihg rSt¥al 51atements unless th8y are sabsfred th8ttFwgli ea true and tsrvt¢wof 8 Stalè ofaffair8 ol th8 Charity and of it$ 4wrnirvJ resources and appficatk•n of r95wrces. indbding its In¢om¢ and èxpendllur4 forthatperfthl. In pr8psrfTW these1[nTh gt8tèments, tho Trustees Are Tequlfed to.. $eCtSUItSb atroun1 aThJ then aiwty them L>)nststsnty, otrthve the rNethIyS and w'ncipbs ofthe Charfks SORP IFRS 1D21.' mak& jud9monts and XL¥unbr>9 ein that are peasonatae ond p[ 8tate wheiher applkxble UKkn)Unng Sknd8rds IFRS 102) have folbé¢J, 8ubigL# to &nymateFial depertures dbdos8d Wlaned the finan st8tements.' preparé tho finaneJal 8tstellftts on the * LVJrt•m kesi¥ M ts wwprwate to wesum th&tth? Charlty tInue In bune The Trustees are tBSW8ibl8 for kewng aJnty rÈcurds that are sffjthent ID show ewaln Charlvs trgngactions end dtsd05e With reasonable at any time the finan0& ot tho CharTty J enabla tttom to enswe that fv ffinanckl s&tennts compty wrth th8 Comp¢n*s A¢t 20(. They ara also resptrtsIb fof saleguarding Ihe assets of Ihe Charity and kEnce lor tsng re8wbb Steps for the prevonuon snd det#tiDrtr of fraud and othertEregulorfkn. and kn on Ihthrts8halfty. on Mr ti J•nnl Page 4
THE METROPOUTAN I(ALLISTOS FOUNDATION CIO INDEPENDE EXAMINER'S REPORT FOR THE YEAR ENDED 31 JANUARY 2024 Indepgnd9nt Examlnorfs Report to the Trustees of Thè Metropolltan Kalllstos Foundation CIO {Ihe Charlty.) I report lo the charity Tru8tees on my examination of the a¢Unts of the Charity for the year ended 31 January 2024. Rosponslbilltles and Ba$1$ of Report As the Trustees of the Charty {and its directors for the purposes of company law) you aro responsible for the preparalron ofthe accounts in accordance wth the requiroments of the Companies Ad 2006 ('Ihe 2006 Act,). Hawng satisfied myself that the accounts of the Charty are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination. I report in respect of my èxaminalian of the Charity's accounts carried out under section 145 of the Charities Act 2011 1'th0 2011 Act'}. In carrwng out my examination I have followed the Directions given by the Charity Commission under section 145{5llb} Df tho 2011 Art. Independ&nt Examlner's Statement I have completed my gxaminalion. I confiTm that no Tnaiters have come to my attenliDn In conn8Ction wf(h the examInatn giving me cause lo believe.. accounting records were not kept in respect Df the CharÈty as required by section 386 of the 2006 Act,. or tha accounts do not accord with those words,. or the accounts do not comply with the accounting requirements of s8Ctton 3% of the 2008 Act other than any requirement that the accounts gwe a twe and fairf Mew which is not a matter considered as part of an independent examination,. or the accounts have not been prepared in gcwrdance with the methods and principles of tho Slalemenl of Recommended Practice for accounting and reporting by char((ies lapplicable to charities preparing their accountg in accordance wth the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 10211. I have no concems and have come across no other matters in wnnection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts lo be reached. This report is made solety to the Gharitys Trustees. as a b(xty. in 8ccordance with Part 4 of the Charities IAccounls and Reports} Regulations 2008. My work ha5 been undertaken so that I might slate lo the Charitys Tmsltses those matters l am required lo slate to them in an Independent Examinerfs Report and for no other purpose. To the fullest extent permitted by Eaw, I do not apt or assume responslbility lo anyone other than the Charity and the Charttys Trustees as a body. for my wort or for this report. Signed.. Dated.. 70-Z4 MAES PLEffCKE(L Page 5
THE METROPOLITAN KALLISTOS FOUNDATION CIO STATEMENT OF FINANCIAL ACT]VITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUN FOR THE YEAR ENDED 31 JANUARY 2024 Unrestricted funds 2024 Total funds 2024 Tol81 funds 2Q23 Note Incomefrom: Donations and legacies 374 374 1,200,000 Total incomo 374 374 1,200.000 Expenditure on.. Chantable activities 2,706 2,706 Totsl expenditurn 2.706 2,706 4.506 Net movement in funds (2.332) {2,332) 1, 195,494 Reconclllatlon of funds.. Total funds brought forward Net movement in funds 1.195.494 {2.332) 1,195,494 {2,3321 1, 195,494 Total fund5 Carried forward 1.193,162 1,193,162 1. 195,494 The Statement of Financlal Actlvitses includes all gains and losses recognised in the year. Thè notes on paves 8 to 15 fom part of these financial staterrnts. Page S
THE IEfROPOLrrAN KALLT08 FOUNDAT10M CIO REGISTERED NUMBER: CE027f22 BALANCE SHEET AS AT31 JANUARY 2024 2024 Flx•d a•88t• Tangibleassets ,08b 09,094 Cuffent aswi Debtot8 ¢a8h al tsnk and IA ha 9.094 1.139,rn 374 1.139,TOO Credtt0 amwntg falli due whhtn 1.140.074 1.139,TCIg 10 (3.3ffj) 1.135n4 Total assets iM¥¢un•llt Ilabiritlo9 Net4swt¥ l.lJa4OQ 1.193.162 1.195,494 Total 1,193.182 1,1944k4 1,191162 1,195,494 Charityfvnd Restrfctsd fvnds Unresrrfcted fund8 12 12 T4tai fitnd• 1,193.162 f, 195.494 1,193,162 1, 195.494 7he wa$ 8nliUed toeKempkn aith wpjersethn 477ofihe Compafties Act2006. The Men) have not re Ihe c¥wy to obtskn an awjlt for the yw kn qiysuon In sran£¥ with 8eGthn 476 efcompanres Act 20ffj. zo Mr J•#nln Trje th OTr pag8$ 8 trj 15 Ivmi partofll&8s• 8&tonents. Page 7
THE METROPOLITAN KALLISTOS FOUNDATION CIO NOTES TO THE FINANCIAL STATEPJiENTS FOR THE YEAR ENDED 31 JANUARY 2024 Gengral inf0miaon The charity is a Charitable Incorporated Organisation incoq)orated in England and Wales. The registered office is 18 Warwck Street, Oxford,OX14 1S Accounting policies 2.1 Basls of PTeparatlon of financlal statements The financial statements have been prepared in accordance with the Charit$ SORP IFRS 1021- Accounti and Reporting by ChaTilies'. Statement of Recommended Prydctice applic8blo lo charrfcies PTeparirbg their accounts in ac¢ordance wlh the Financial Reporting Standard applicable in the UK and Republic of Irdand IFRS 1021 leffe¢live 1 January 2019). the Financial Reporting Standard appllcable in the UK and Republic of Ireland IFRS 1021. The Metropolitan Kallislos Fourtdalion CIO meets the definition of a publlc benèfrt ertty under FRS 102. Assets and liabilities are inffjalty recognised at historical cost or transaction value unless otherwi58 Statsd in the relevant acwunling policy. 2.2 Incoma All income Is recognised once the Chartty has entrtlemont to the income, (( is probable that the Incorne wtll be receNed and the amount of income receivable can be measured reliably. The recognition of income Irom legades is dependent on establishing enlillemenl, th2 probability of receipt and the abilty lo estimate wtth sufficient accuracy the amount receivable. Evidence of entitlement to a legacy exlsts when the Charity has Suffient eviden that a gift has been lefl to thom {Ihrough knoedge of the exslence of a valHI will and the death of the benefaclorl and the executor is satisfied that the propety in question 11 not be required to satisfy claims in the eslale, Receipt of a legacy must be recognised en rt is probable that il will be received and the fair value of the amount 1Vable. which wll generalty be the expected cash amount to be distributed lo the Charty, can be Teliably nwsured. 2.3 Expenditure Expenditure is recognised once there is a kgal or constructive obligation to transfer ec(momic benefit to a third paty, r( Is probable that a transfe* of economic benefrts will be required in settlellt and the amount of the obligation can be measured reliably. Expenditure is classrfied by a¢tivity. The costs of each aCtIty are made up of the total of direct C081s and shaied costs, including support costs inVoed in undertaking each actmty. Direct costs attributable ID a single activity are allocated directly to that activity. shar costs which contribute to more than one aclivty and support costs which ar ot attributable to a single activty are apportioned bets¥een those activrties on a basis consislenl with the use of resources. Central staff costs are all(at on the basis of time spenL and depreciation harges allocated on the pgrtion of the asset's Use. Expenditure on charitable activities k% incurred on directy undertaking the actni(ties whlch fvrth6r the Charity's objective8, 8$ well 89 any associated support costs. Al expenditure is inclusNe of irrewverable VAT. Page 8
THE MEfROPOUTAN KALLISTOS FOUNDATION CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024 Accountlng pollciès Icontinuodl 2.4 Tanglble fixed assets and depreclatlon Tangible fixed assets are inilialty recognised al cosl.Tangible fixed assets recetved as a part of a legacy are initially recognised at their valuation for probat& whkh is deemed to bo the cost. After recognition, under the cost mcxlel, tangible fLxed assets are measured at cost less accumulated depreciation and any accumulated impaimient 108ses. All costs incurred lo bring a tangible flxed asset into its intended worf(ing conditton should be included in the measurement of cosL Depreciation Is eharged so as to allocate the cost of tangible fLxèd assets less Ihelr residual value overtheir estimated usefijl lives, . D&preciation is provFded on the fonowing ba815: Books and periodicals 2% Straight line 2.5 D8btOTS Trade and other debtors are recognised at the settlement amount after any trade dlscounl offered. Prepayments are valued al the amoltnt prepaKI nel of any trade discounts due. 2.6 Cash at bank and ID hand Cash at b8nk and in harwl includes cash and short4em highly liquid Investments with a short maturity of three months or less from the dale of 8Gquisition or opening of the depDsit or similar 8c¢ounl. 2.7 Llabilttles and provisions Liabil(ties are recognised whèn there is an obligalK)n at the Balanee Sheet dale as a result of a past event. it 15 probable that a transfer of economic beneff( will be required in settlement, and the amount ofthe setttement can be eslimaled reliabty. Liabili(i6s ar8 r@cognised at the amount that th& Charity antiapales il wll pay lo settle th6 debt or the amount it ha8 recèived as advanced payTnenls forthe gocMJ8 or semces il must provide. Provisions are measured at the best eslim?le of the amounts required lo settle the obligation. Where the effect ol the kn'me value of money is matertal, the prowslon is based on the present value of those amounts, discounted al the pre-tax discount rate that reffecls the risks specific to the liability- The unwinding of the discount Is recognised in the Statement of Financial Activities as a finance wst. 2.8 Fund accounting General fund8 are unrestricted fvnds which are available for use at the discretion of thè Trusle8s in furtherance of Ihe general (}blNeS of the Charity an¢J which have not been designated for other purposes. Page 9
THE METROPOLITAN KALUSTOS FOUNDATION CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024 Income from donations and legacies Unrgstrl¢ted funds 2024 Total funds 2024 Donations 374 374 Unrestrictgd funds 2023 Total funds 23 Legacies 1,2(Kl,000 1,200,000 Analysis of axpenditure on charltable actlvltles Summary by fund type Unrestrlcted funds 2024 Total 2024 Depreciation and support wsts 2,706 2,706 Unr9Stricled funds 2023 Total 2023 Depreciation and 8UPPOrt costs 4,506 4,506 Page 10
THE METROPOLITAN KALUSTOS FOUNDATION CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024 Analys15 of expendlture by a¢VItIeS Actlvitie5 undertaken dlredy 2024 Support costs 2024 Total funds 2024 DeprlatIon and support costs 1.206 1,500 2,706 undertaken direcyy 2023 Stjpport costs 2023 Totsl fvnds 2023 D&prLatIOn and support costs 1.206 3,300 4,16 Anatysis of support costs Total funds 2024 Activities 2024 Govemance costs 1,500 1.500 Total fvnds 2023 ACtiv&S 2023 Goveinance costs 3,300 3,300 Page 11
THE METROPOUTAN KALLISTOS FOUNDATION CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024 Indendant examin•rfs remuneration 2024 2023 Fees payable to the Ch8rlVs independent examiner for the Independent examination of tho Charitys annual accounts Fees payable to the Charity5 independent examiner in respect ot. l other services r1 included above 1,200 2,400 300 900 Trust, remunèratlon and expenses During the year, no Trustees received any remuneration or other benefits (2023- £NIL). During the year ended 31 January 2024, Trus expenses have been Incur f2023- £NIL). Tanglble flxed assets Books and P8rlodicats Cost or valuatlon Al 1 February 2023 60,300 At 31 January 2024 60,300 Deproclatlon At 1 February 2023 Charge for the year 1,206 1.206 At 31 January 2024 2.412 Net book value At31 January2024 57,888 Al 31 January 2023 59,094 P8ge12
ThE MEfROPOLrrAN KALLISTOS FOUNDAIION CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024 Debtor5 2024 2023 Duo wlthln one year Other debtors 1.139,700 1, 139.700 1.139,700 7,139,700 10. Credltors: Amounts falling due wlthln on8 yaar 2024 2023 Trade creditars Accruals 8nd dgferred income 3,3(Y) 1,5Lh) 3,300 4,800 3,300 11. Flnanclal Instruments 2024 2023 Financlal assets Finanaal assets measured at fair value through income and eypendtture 374 Financid assets measur&J at fair value through income and expenditure comprise cash 81 bank. Page 13
THE METROPOUTAN KALL15TOS FOUNDATION CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024 12. Ststement of funds Statement of funds - curront y•ar Balance at 1 February 2023 Balance at 31 January 2024 Incom8 Expenditur8 UnrestTIGtsd funds General Funds- all ftjnds 1.195N94 374 12,706} 1.193,162 Page 14
THE METROPOUTAN KALLISTOS FOUNDATION CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024 12. Stat&mont of funds Icontinuadl Statement of funds - prlor year Balance al 31 January 2023 Incom8 Expenditu Unrestrlcted funds Gene1 Funds- all funds 1.200.000 (4,506) 1, 195,494 13. Analysls of net assets betweèn fvnds Analysls of not assets botwgen funds- current year Unrestricted funds 2024 Total funds 2024 Tangible fued assets Current assets Creditors due wthin one year 57.888 1,140,074 {4,8001 57.888 1,140.074 14,800} Total 1.193.162 1,q93,162 14. Related party transactlons Thè Charity has not errtered into ary related paty transact durlng the year, nor are there any outstanding balances owing between related partles and the Charity at 31 January 2024. Page 15