Company Registered number.. CE027122
Charity number. 1196453
THE METROPOLITAN KALLISTOS FOUNDATION CIO
UNAUDITED
TRUSTEES, REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025

THE mETRoPOL￿AN KALLISTOS FOUNDATION CIO
CONTENTS
Page
Reference and Administrative Details of the Charity, Ils Trustees and Advis8rs
Trustees, Report
Independent Examinerfs Report
Statement of Financial ActDiilies
Balance Sheet
Notes to the Financial Statements
8-14

THE METROPOLITAN KALUSTOS FOUNDATION CIO
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES
AND ADVISERS FOR THE YEAR ENDED 31 JANUARY 2025
Tr[￿tee5
Mr Simon Jennings, Trustee
Mrs Frances Jenn,ing8, Tru8tee
Very Rev ProfessorAndrew Louth,
Very Rev Stephen Platt, Trustee
Very Rev Professor John Behr {appoint8d 20 October 20251
Very Rev DrAle￿8 Torrance lappoint8d 20 Odober 20251
Company registered
number
CE027122
Charity registar8d
number
1198453
HMRC Gift Aid
refprence
ZD31973
Registgrod offico
18 Watwick Street
Oxford
OX41SX
Accountants
Fletcher & Partners
Crown Ch8mber8
Bridgè Street
Salisbury
SPI 2LZ
Bankgr8
Lloyds Bank plc
25 Gresham Slregt
London
EC2V 7HN
Pag8 1

THE METROPOUTAN KALUSTOS FOUNDATION CIO
TRUSTEES. REPORT
FOR ThE YEAR ENDED 31 JANUARY 2025
The Trustees present their annual report together with th¢ financial slalements of the Ch9rity for the year to 31
January 2025. The Annual Report serves the purposès of both a Trusl&88' report 8nd a directors, report undor
company law. The Trustees ¢onfirm that the Annual Report and financial slal8m&nts of the charitable incorporat8d
organisalion comply with Ib.8 current slatulory requirements, the requirements of the charity's governing document
and the provisions of the Statement of Recommended Practice ISORPI applicable to charitie8 preparing their
accounts in accordance with the Financi81 Reporting Standard applicable in the UK and Republic of Ireland {FRS1021
l&ffective 1 January 20191.
Objoctlves and activities
Polic[85 and Obj￿11¥05
Under the constitution dated 8 November 2021 tho objects ol the Charitablè Incorporated Organisation are thè
advancement of the Orthodox Christian Religion and of education in the Orthodox Christian theological tradition for
the public benefit through,,
11 Establishing a library lo consist initially of the books, papèT8 and personal memorabllia of Melropolilan Kalllslos
of Diokleia, lo promote research into his Ilfe, theological writings and spiritual works and maintaining the same
as a libr8ry for the continuing study of the Orthodox Christian Religion in particular.
21 Providing theological leaching and courses in the Orthodox Christian R@ligiDn.
31 Promoting and sponsoring lectures, seminars and conference8.
4} Providing scholarships to assist those studying subjects relevant lo the Orthodox Christian Faith.
51 Co-operating with ostablishing and sUPPOrting higher educational institutions engaged in leaching and research
in or relevant to the Orthodox Chris118n Faith,
In setting objectives and planning for actlvilies, the Trustees have given due wn5ideration to general guidance
publl$h¢d by th¢ Charity Commi83ion relsting to public benefit, including tho guidan¢o 'Publio b¢n¢fil.' running a
charity IPB21',
b. Actlvities undertaken to achl8vo objoctlves
Vvhilst Ihg estate of The Metropolitan Kalll810s is stlll In administration the trustees are considering where his library
of books and documents might be housed permanently and are looking into funding to enable th8 $slablishm@nl of a
library in Oxford. The Iruslees have had initial meetings with other int8resled parties and have con8idered preliminary
drawings. Th&y hope shortly to be in a position lo investigate planning requirements. During the year, the trustees
Considered sponsoring the publication of a catalogue for an exhibition in Corfu in conjunction with the Rothschild
Foundation (who were lo provide funds). Unfortunately, th? promoters had lo withdraw. Vvilh the agreement of the
Rothschild FoLJndation an amount was paid to the publisher to reflect CO8ls incurred and the balance was rèpaid to
the Rothschild Foundation.
Page 2

THE MEfROPOLITAN KALLISTOS FOUNDATION CIO
TRUSTEES, REPORT ICONTINUEDI
FOR THE YEAR NDED 31 JANUARY 2025
Achievements and performance
Flnanelal rèvièw
a. Golng eoneÈm
The TTuslees have a roasDn8bl& expectation that thè Charity has adequate resource8 to continue in
operational existence for the foreseeable future. Forthis reason, they continuo to adopt the going concèrn
basis in preparing the *inancial statements. Furth&r details regarding the adoption of the going concern
basis can be found in the a￿untIng policies.
b. Rg¥grves policy
The trustees will not undertake any commilrnents in relation to a physical library unless funding has b*n
8ssured, sufficient lo cover expected costs of any conlraclual obligation and would expect to retain
sufFicient liquid funds in addition, lo cover 6 months of u8n8ral running c081s.
Financial position
The trustees expe￿ the value of the residuary estate ol Melropolilan Kallislos Ib8quaath@d lo the
Foundalionl lo amount 10 81 least £1,2QO,000, snd an interim distribution of £400,000 cash was released
during the year. The nel movement in funds this year after charges for dÈpreci8tion and support fees
amounted lo £27,695.
Structurg, govornance and management
a. Constitution
The Metropolitan Kallislos Foundation CIO is a Charita￿? Incorporated Oiganisalion and was found6d
under ils constitution dated 8 November 2021.
b. Methods of appointment or election of Trustees
The management of the Charity is the responsibility of the Trustees whD 8r@ elected and Co-opted under
the tems of the con81ilution. Apart from the initial trustees, each of whom is appointed for a specified
term, every appointed twslee musl be appointed for a Igmi of three years by resolution passed al a
properly Conven￿ meeting of Iruslee8. Trustees who have come lo the end of their 3-year term may
land In fact have been) reappointed. In selecting individuals for appointment as Iru8tees, the trustees must
have regard lo the skills, knowledge and experience needed for the effectlve adminislralion of the CIO.
Every trust@@ musl be 8 member of the Orthodox Church in good standing.
Page 3

THE METROPOLITAN KALUSTOS FOUNDATiON CIO
TRUSTEES, REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 JANUARY 2025
Statsment of Trustgos, responsibilities
The Trustees are responsible for preparing tha Trustee8' Report and thè financial 8talements In
accordance with applicable law and Unit8d Kingdom Accounting Stsndards IUnit8d Kingdom
Generally Accepted Accounting Practice).
Company law requires the Trustees lo prepare financi81 stat&ments for each fin8n¢i81 y8ar. Under
company law, the Trustees must not approve the financial slalem8nls unless they are satlsfied that
they give a true and fair view of the slate of affairs of the Charity and of 118 incoming resources and
application of resources, including its Income and expenditure. for Ih8t period. In pr8paring Ih$s&
financial 81atemenls, the Trustees are required to..
select suitable accounting policies and then apply them ¢onsislontly',
observe the methods and principles of the Charities SORP IFRS 1021.,
make judgments and accounting estimalos that are reasonable and
prudent.,
stale whether applicable UK Awounling Standards IFRS 1021 have been followed. subjèct to any
material departure8 disclosed and explained in the fi'nancial slalements.,
prepare the fin8ncial slalemenls on the going concern basis unless It Is inappropri8te lo prosurne
that the Charity will continue in business.
The Trustees are responsible for keeping ad8qusII8 accounting records Ihat ar8 sufficient lo show and
explain the CharTty's transactions and disclose with reasonable accuracy al any time th6 financial
position of the Charily end enable Ihgm to 8nsur@ that th@ financial statements comply with the
Companies Act 2006. Th6y are also responsible tor safeguarding the assets of the Charity 9nd hence
for taking reasonable stops for IhF pr&venlion end detection of fraud and othor Irregularities.
Approved by order of thg members of the board of Trustees on
and3
ne
on their behalf by..
Mr
mon Jennings
Page 4

THE MEfROPOLITAN KALLISTOS FOUNDATION CIO
INDEPENDENT EXAMINER'S REPORT
FOR THE YEAR ENDED 31 JANUARY 2025
Independent Examiner's Report to the Trust•o$ of The Metropolitan Kallistos Foundation CIO I'th8
Charfty'l
I report to the charity Trustees on my examina￿On of the accounts of the Charity for the ye8r ended 31 January
2025,
Responslbllltlos and Basis of Rèport
A8 the Trus160s of the Charity (and ils directors for the purposes of company lawl you are responsiblè for the
preparallon ofthè accounts in accordance w(Ih the requirements of the Compsnies Act 20061'lhe 2006 Arf}.
Having satisfied myself that the accounts of the Gharity are not required lo be audited undei Part 16 of th8 2006 Act
and are eligible for independent examination, I report in respect of my examination of the Charity's a¢counls carried
out under Section 145 of thè Chartlies Act 2011 I'the 2011 Acl'l. In carrying out my examination I have followed the
Directions gNen by the Charity Commission undor section 145{5llbl of the 2011 Act.
IndoP9ndgnt Examlngr's Statsment
I have completed my examlnation. I conffrm that no matters have come to my 8ttsntion in connection with the
examination giving me cause to believe,.
acGour,ting recoTds w8re not kept in re8pect ot the Charity as required by section 386 of the 2006 Act.. or
the accounts do not accord V￿th those records., or
thè aocaunts do not comply with the accounting requirements of $¢ction 398 of tho 2006 A¢t othor than sny
requirerllent that the accounts give a 'tW8 and fairf viaw which is not a matter considered as part of an
independent examination., or
the accounts have not been prepared in accordance with the methods and principles of the Statement of
Recommended PractlC8 for accounting and reporting by charities lapplicable lo charities proparing their
accounts in accordance with the Financial Reporting Stsndard applicabl& in th@ UK 8nd Rapublic of Ireland
IFRS 102}1.
I have no concerns and have come across no other matters in Gonnection with the examination to whlch
atlentlon Should be drawn in this report in order lo enable 8 proper understanding of the accounts lo be rea¢heol,
This report is made solely to th@ Charit18 Trustees, as a bocty, in accordance with Part 4 of the Charities (Accounts
and Reports) Regulations 2008. My work has be&n undertsken 80 that I might slate lo the Charity's Trustees those
matters l arn required lo slate to them in an Independent Examiner's Report and for no other purpose. To th& fullasl
extent perrnitt&d by law, I do not accept oi assume responslbllity to anyone other than the Charity and the Charity's
Trustees as a body, for my work or for this report.
Signed..
Dated..
Page5

THE MErR0POL￿AN KALLISTOS FOUNDATION CIO
STATEMENT OF FINANCIAL ACTIVITIES
(INCORPORATING INCOME AND EXPENDITURE ACCOUNTI
FOR THE YEAR ENDED 31 JANUARY 2025
Unrestrlcted
funds
2025
Restrlcted
funds
2025
Total
funds
2025
Total
funds
2024
Note
Income from..
Donations 8nd18gaa8S
18,860
18,860
374
Investment income, royalties and interest
30,401
30,401
Totsl Income
£30,401
218,860
£49,261
£374
Expendlture on
Ch8rilable activities
2,706
18,860
21.566
1706
£2,706
£18,880
£21,566
£1 706
Net movement in funds
£27,695
7,695 £1, 193,162
Reconclllatlon of funds
Total funds brought forward
1,193,162
1,193,182
Net movement in funds
27.e95
27,695
1, 193, Y62
Net movement in funds
£1,220,857
£1,220,857 £1, 193, 162
The Statement of Financial Activities includes all gains and losses recognized in the year.
The notes on page5 8 10 15 form part of these financial statements.
P8g@ 6

IHE METROPOLITAN KALUSTOS FOUNDATION CIO
BAL4NCE SHEEr
AS AT 31 JANUARY 2025
Noto
2025
2024
Flxed assets
Tanglble as8et8
56,682
57.888
Currènt assets
Deblorg
Cash al bank and in hand
10
12
760,196
405,479
1,165,675
1,139, 700
374
1,140,074
Cr8ditor8'. amounts failing due within one year
11
(1.500)
(4,800)
N&t current assets
1.165.675
7,135.274
Total assets less currènt liabilitres
1,220,857
1.193.162
Total net assets
£1220.857
193 162
Charity funds
Restricted lunds
Unrestricted funds
13
13
1,220,857
1,193,162
Total fund8
£1,220 857
£1193 162
The Charity was entitled to exernption from audit under section 477 of the Companies Act 2QO6.
The members have not requirod the company to obtain an audit forth6 year in question in accordance with section
476 of Companigs Act 2008.
on Jennings
otes on pages 8 to 15 fomi part of Ihese financial statements.
Page 7

THE MEfROPOLrrAN KALLISTOS FOUNDATION CIO
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY2025
G8n9ral Infomiats'on
The charty is a Charitable Incorporated Organisalion incorporated in England and Wales, Ihe registered
office is 8 Warwick Street. Oxford OX14 1SX.
Accounting pollclos
2.1 Basis of preparatlon of flnancial statemènts
The financial statements have been prepared in accordance with the Charities SORP IFRS 1021
Accounting 8nd Reporting by Charities.. Stslemenl of R&commended Practice applicabl8 lo charities
preparing Iheiraccounts in accordance with the Financial Reporting Standard applicable in the UK and
Republic of Ireland IFRS 102) (effective 1 January 20191, the Financial Reporting S18ndard applicablo
in the UK and Republic of Ireland IFRS 1021,
The Melropolilan Kallistos Foundation CIO meets the definition of a public b@n8fil entity under FRS
102. Assets and liabilities are initially recognised at hisloTical cost or transaction value unless
otherwise slated in the relevant accounting policy.
2.2 Income
All incorne is rècognised once the Charty has entillemenl to the income, 11 is probable that the income
will be received and the amount of inGome receivable can be measured reliably.
The re¢ognilion of income frorn leg8Clgs 1$ d8pendent on 8Stablishing enlitlemenl, the probability of
r8C@ipl and the ability to eslirnate with sufFi¢ient accuracy the amount receivable. Evidence of
entitlement ttr 8 l&gacy exists when the Charity ha8 sufficient evidence that a gift has been left lo them
Ilhrough knowledge of the existence of a valid will and the death of the benefaclorl and the ox6culor is
sallsfied Ih8t the propety in question will not be required lo satisfy claims in thè estate. Rèceipt of a
legacy musl be recognised when il is probabl@ that il will b8 received and the fair value of the amount
receivable. which will generally be the expected cash amount lo be distributed to the Charity, can be
reliably measured.
2.3 Expenditure
Expenditure is rocognised on¢e there is a legal or constructive obligation to transfer economic benefit
to a third party, il is probable that a transfer of economic benethls will be required in selllement and
the amount of the obligation ¢an be measured reliably. Expènéilure 18 classified by activity. The costs
of each activity are made up of the lolal of direct costs and shared costs, including support costs
involved in undertaking each activity. Direct costs attributable lo a single activlty are allocated dlreclly
to that activity. Shared costs which contributè to more th8n one activity and support costs Nvhich are not
8ttribulable lo a single activity are apportioned between those activities on a basis ¢onsist@nt with the
use of resources. Central staff costs are all(Kated on the ba815 of lime spent, 8nd ctepwcialion charyes
allocated on the portion of the asset's use.
Expenditure on Charitable 8Ctivities is incurred on directly undertaking the actlvities which further the
Charity's objectlves, as well as any associated support Gosts.
All expenditure is inclusive of irrecoverabla VAT.
Page 8

THE mETRoPOL￿AN KALLISTOS FOUNDATION CIO
NOTES TO THE FINANCIAL sTATEmE￿s FOR THE YEARENDED 31 JANUARY 2025
A¢¢ountlng policies (continued)
2A Tangible ffxed assets and dpprpGlatlon
T?ngible fixed assets are initially re¢ognised at ￿$1. Tangible fixed assets received as a part of a legacy
8r8 initially r8cognised al th&ir valu81ion for probate which is deemed to be the cost. After recognition.
under the c081 model, tangible fixed assets are measured at cost less accumulated depreciatiDn and
any accurnulated impairment losses. All costs incurred lo bring a tangible fixed asset into its intended
working condition should be included in the mèasurem8nt of cost.
Depreciation is charged so as lo sllocate the cost of tangibl& fixed assets less IheiT residual value over
their estimated useful lives.
Depreciation is provided on the following basis..
Books and periodicals
20A Straight line
2.5 Debtors
Trade and olh&r dèbtors are recognised al the settlement amount after any trade discount offered.
Prepaymonts are valuod at the amount prèpaid net of any trade discounts due.
2.6 Cash atbank and In hand
Cash at bank and in hand includes cash and short-temi highly liquid investm6nts with a short maturity
of three months or less frorn the dale of acquisition or opening of the deposit OT similar account.
2.7 Liabilities and provisions
Liabili11gs are recognisgd whon there is an obligation al the Balance Sheet date as a result of a past
event, il is probable that a Ir8nsf8r of economic benefit will be required in settlement, and the amount
of thè settlement can be estimated reliably.
Liabilities are rocognised al the amount that the Charity anticipates il will pay lo soltle the debt or the
amount il has received as advanced payments for th6 goods or services It must provide.
Provisions are measured at the best estimate of tho amounts required lo settle tho obligation. Where
the effe¢l of the lime value of Money is material, the provision is based on the present valLre of those
amoun18, discounted al the pre-tax discount rate that reflects the risks specific to the liability. The
unwinding of the discount is recognised in the Statement of Financial Activities gs a finance co81.
2.8 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in
furtherance of the general objectives of the Charity and which have not b8en designat&d for other
purposes.
During the year a grant was received from the Rothschild Foundation towards the costs of publication of
an catalogue of an éxhibition in Corfu. The proje¢l had lo be cancelled and funds were either paid to the
publicist to cover costs incurred Iwilh the agreement of the Rothschild Foundation) or returned ID the
Rothschild Foundation. These transactions have been accounted for as Restricted Funds.
Page 9

THE MErR0POL￿AN KALLISTOS FOUNDATION CIO
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025
Unrestricted
funds
2025
R8Strlcted
Funds
2025
Total
funds
2024
Incomè from donatlons and legacles
Donations and grants
18,860
324
Investment Income
Bank interest
Royalties
5,686
5,686
£30 401
£30 401
Analysis of expenditure on charltable
actlvltles
Charitable activities
Depreciation and support cost8
18,860
2,7C
£2,7C
£18,860
£2,706
Activities
undertaken
directly
2026
Support
costs
2024
Total
Funds
2024
Analysis of expenditure by activities
Depreciation
Governance costs
1,206
1,206
1,500
£2,706
£1,206
£1,500
2025
2024
Independent examlner's rBmuneration
Fees payable lo the Charity's independent examiner for the
independent examination of the Charity's annual accounts
1,200
1,200
Fees payable to the Charity's independent examiner in respect
of all other servicos not included above
300
300
Page10

THE MEfROPOLrrAN KALLISTOS FOUNDATION CIO
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025
Tntstees, remunera￿On and expenses
During the year, no Trustee recelved any remuneration or other benefits12024-£NIL}
During the year ended 31 Janu8ry 2025, no Trustee expenses have been incurred12024-
£NILI
Books &
perlodicals
2025
Books &
periodlcal8
2024
Tanglble fixed assets
Cost or valuation
At 1 February 2024
At 1 February 2025
60,300
60,300
60,300
60,31)0
Depreciation
Al 1 February 2024
Charge for tho yosr
Al 31 January 2025
2,412
1,200
1,206
1,206
At book valu¢
Al 31 January 2024 (20231
Al 31 January 2025120241
£57,888
£56,682
£59,094
£57,888
Pag8 11

THE MErR0POL￿AN KALLISTOS FOUNDATION CIO
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEARENDED 31 JANUARY 2025
2025
2024
10.
Debtors
Due wlthin one year
Other debtors
760,196
£760,196
1 159,700
£1, 139, 700
Creditor&: Amounts falling due wtthln ono year
Trade creditors
Accruals and deferred income
3,300
£1,500
£4.800
12.
Flnanclal instrurnents
FlnancSal assets
Financial assets measured at fair value thrDugh income
and expenditure
£325,087
£374
Financial assts measured al fair value through income
and expenditure comprise cash at bank
Page 12

THE METROPOLITAN KALLISTOS FOUNDATION CIO
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025
16.
Related party transactions
The Charity h8s not énlared into any re181ed paty transactions during the year, nor are there
ny outstanding hal8nces owing be￿e¢n related parties and the Charity at 31 January 2025.
Pag8 13