REGISTERED CHARITY NUMBER: 1199381 Re_port of the Trusteès and. Flnancl I S for thè Yaar Ended 31st March 2024 Anglican Convocation EuroJ)e_ Hodgsons Chartered Accounlanls 48 Anenack Street F8lmoulh Cornwall TR11 3JH
A lican Convocati Contents ofthe Flnanclal Statements for the Year Ended 31st March 2024 Report of the Trustsos 1 to 2 Independent Examin*s Rèport Statemerrt of Financlal Activit6es Statement of Flnancial Position Notes to the Flnanclal Statements 6 to 11 Deta11 Statem?nt of Flnan¢lal Actlvltles 12
An li¢an Convocation Euro ort_ofthe_Trustees for the Year Ended 31st March 2024 The trustees present their report with the finanaal statements of the charity for the year ended 31st March 2024. The trustees have adopted the provisions of Accounting and RepDrting by Charities.. Stslemenl of Recommended Practice applicable to charities preparing their accounts in accordan with the Financial ReFrtIng Standard ar¥Jlicable in the UK and Republic of Ireland IFRS 102} leffeclive l January 2019). OBJECTIVES AND ACTIVITIES Objectives and aims Anglican Convocation Europe IACEI became 8 charitable incorporated organisation, gIStered with the Charity Commission (England and Wales), on 20 June 2022. ACE was established to advance the historic orthodox Anglican Christian faith in accordance with ACE'S vision, identity, values and convictions. primarily thin Europe. This includes, but is not restricted to, planting and slrenglhoning congregations and mtnisty units who subscribe to the Jerusalem Dedaratson 2008, 8nd f8¢ilit2ting the ministry of the convocation Bishops. ACE seeks lo be 8 home for faithful Angli¢8n churches ¢x>mmitted to making disciples of Jesus Christ across Europe. Public benefit Trustees have regard for the Charity Commission's guidance on public benefit in their discussions and decision makFng, in particular the specific guidance on charities for the advan¢emelll of religion. ACHIEVEMENT AND PERFORMANCE Charitable activities During the year. most of the income for ACE was gifted by member ngregatiOnS and ministy units. together wth some individual donations. ACE grfted £23,424 to Angli¢an Network in Europe, towards the ministy costs of the provincial and diocesan bishop. Two further grfts were made during the year.. £1,400 was given lo th& Global Fellowship of Confessing Anglicans, and £1,000 was given to Gafcon GB & Europe. Membership F¢¥iir ehiiw.h>.¢ w*.rét. thg. fr)iindinJ m@.mhp.r of ACF in JiinÈ ?0?? fk¢rirvJ the last 1 ? months. thp nijmber of churGhe5 and ministy units increased from 10 to 14. Our membership now consis15 of the followin9 churches or ministry units= SCOTLAND.. St Si18s Glasgow, St Thomas Edinburgh, Weslhill Community Chtjrch Abe¥deen, Holy Trinity Ardnamurchan WALES.. Wellspring Anglican Angle, All Saints Colwqn Bay, Fellowship 345 Aberyswth ENGLAND.. Anchor Church Fowey, Wellfield Church Leyland, The Way Church Bolton GERMANY.. Immanuel Church Monchengladbach, German Congregation English Church Leipzig PORTUGAL.. All Saints Lagoa, Cht7St The ng Amancil There are several other d)urches and ministry units Cur nlly making enquiries about the possibility of membership ofACE. FINANCIAL REVIEW Financial position During the year, the charity nde a nel income of £S,792. Al the year end the charity had the following on the balance sheet.. Current Assets of £15,864 Current Liabilities of £1.235 Net Assets of £14,629, all of which are in the fomi of unrestricted funds. ReseeS policy Reserves held by charity ate revi&w@d and discussed by the trustees al meetings held during the year. The charity's aim is lo hold a minimum of £10,000 in reserves, equal to approximalety 3 month's operating costs. The unrestricted resèrve as at 31st March 2024 was a surplus of £14.629 compared to a surplus of £7.837 in 2023. Page 1
R&po.rt of.the Trustees r tha Year Ended 31st March 2024 STRUCTURE, GOVERNANCE ANO MANAGEMENT Governing document The charity is controlled by its goveming document. a corvstilution for a tharitable Incorpmtgd organisation {CIO) using the Association model. Recrultm8nt and appointment of new trustees Tnjstees are appointed for a temi of 3 years Irenewable for one further lemil, by the d8cision of the members at the Annual General Meeting. The Trustees have the power to fill any vacancios or co-opt up to tsvo addilional Irustees in order to bring additional skills. Any vacancies may be filled. The trusteos are recruited from representsthves of congregations and ministy units. REFERENCE AND ADMINISTRATIVE DETAILS R¢gl$t•r¢d Charfty numb•r 1199381 Pflncipal address 20 Losismthiel Street Fowey Comwall PL23 1BE Trustees Rl Rev A J Lines Rev M Ayers D Miller Bogie Rev P de GY-warter Rev D Mccarthy Ms P Elias lappoin*ed 18.9.231 Ms D E Kelly lappoinled 18.9.23 Indep•rtd•nt Ex8Mln•r James Fkxlgsons FCA BA (Hons) Hodgsons Ch3rter8d A¢countsnts 48 knenack Street Falmouth Comwall TR11 3JH 03105121Y24 Approved by order of board of trustees on ............................................. and signed ors its behalf by.. Rl Rev A J Lines- Trustee Page 2
Inde .-ndent Examlngr'$ Rèport to thfy Trust¢g$ of lican Convocation Euroie Independont examlner's report to th• trustees of Angllcan Convo¢atlon Europe I report to the d)arity trustees on my examination of the accounts of Anglican Convocation Europe (the Trust) for the year ended 3151 March 2024. Responsibilities and basls of report As the charity Irusle¢s of the Tfusl you are Tesponsible for the preparation of the accounts in acc(Irdance with the requirements of the Ch3rilies Act 2011 {'the ACVI. I report in r$spe¢l of my examination of the Tiusl's 8c¢ounls carried out undeT Section 145 of the Act and i ¢arrwng out my examinab.on I have followed all applicable Directs'ons given by the Charity Commission under Section 14515llbl of the Act. lThdeptrnd&nt examiner's ststement I have completed my examination. l Confim that no material matters have oorne to Fny attention in connection wth the examinalK)n giwng me caL¢5e lo believe that in any material respect.. accounting Tecords were not kept in respect ot the Trust as required by Section 130 of the A¢l,' or the accounts do not accord wth those records," or the accounts do not Cofnply with the applicab requirements Conrning Ihe fomi and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examinatn. I have no concems and have come across no other matters in connecb.on wilh the examination to which attention shoijld be drawn in this report in order lo enable a proper understanding of the ac¢>)unts lo be reached. James Hodgsons FCA BA (Honsl Hodgs(A)s Chartered AccoLtnlants 48 Arwenack Sireel Falmoulh Cornwall TR11 IJH D81e'. Page 3
lican Co Stat•mont of Flnanclal Actlvltlos Lor the Year Ended 31st_March_2024 Peric 20.6.22 Year Ended 31.3.24 Total funds 31.3.23 Total funds Unreslri¢ted fund Restricted fund Notes INCOME AND ENDOVNENTS FROM Donations 8nd legacies 51,598 51,598 76,292 Other income 640 Total 51,628 51,628 76,932 EXPENDITURE ON Charltablo actlvltigs Intemal expenses Govemance costs Giving to others 41.558 878 41,558 878 2.400 44.187 730 24,178 Total 44.836 44,836 69.095 NEf INCOME 6,792 fj.792 7,837 RECONCIUATION OF FUNDS Total funds brought forward 7,837 7A37 TOTAL FUNDS CARRIED FORWARD 14,629 14629 7,837 CONTINUING OPERATIONS AJI income and expendiiure has 8risen from ¢ontinuing aclivities. The notes fomi part of these fin&rla1 statements Page 4
A Itcan Convoeotlon Europ¢ Statement of Financial Position 31st March 2024 2024 Total funds 2023 Total funds Unrestricted fund Restricted fund Notes CURRENT ASSETS Cash al bank 15,864 15.864 9,055 CREDITORS knounts falling due within one year 11,2351 {1.2351 {1,218} NET CURRENT ASSETS 14.629 14,629 7,837 TOTAL ASSETS LESS CURRENT LIABILITIES 14.629 14,629 7,837 NET ASSETS 14.629 14,629 7,837 FUNDS Unrestricted funds 12 11629 7.837 TOTAL FUNDS 14629 7,837 The financial 5tstements were approved by the Board of TDJslees and authorised for iSSLte on '0310512ff*4........................... and were signed on its behalf by-. D Miller Bogie- Trustee The notes form part of these financial siatements Page 5
Iscan Convocation E ro Notes to th¢ Financial Statement frjr the Year Ended 31 t March 2024 INFORMATION Angtican Corivocalion Europe is a charlty registered in England and Walgs. The charity is structured as a charitable incorporation organi5ation. The chafity's registered number is 1199381 and the registered office address is office 4. 20 LO5thI81 Street. Fowey, PL23 1BE. The presentation currency of the charity is Pound Sterfing. Monetary 8mounts in the financial statements are rounded lo the nearest POLIr l£}. The ffinancial statements cover an irKliMdual entity. ACCOUTrrnNG POLICIES Basis of wèparlng the Ilngn¢lal statamonts The finanrAal slalemenls of (he charity, which is a PLtbli¢ benefit entity under FRS 102, have been prepared in accordance vlth the Charities SORP IFRS 1021 'Accounting and Reporting by Charities.. Statement of Recomtnendtsd Practice applicable lo charities PTep2ring their accounts in accordan th the Finanoal Reporling Standard applicable in the UK an(J Republic of Ireland {FRS 1021 leffecbve 1 January 20191,, Financial ReFX)rting Stsndard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Charities Act 2011. The financial Statements have been prepared under the historical cost convention. Going concern The trustees have reviewed the finanu81 position of Ihe charity and wnsidered funding requirements for 12 months fiom the dale of approval of the finanu81 slatemenls. The trvslees have condLtded that there are no material uncertainties in relation to going concem and have accordingly prepared the finanaal statements undeT the going concem basis of accounting. Income Al income is recognised in Ihe Stalemefit of Finan¢ial A¢livilies once the charity has entitlement to the funds. it is probable that the income will be fecHved and the amount can be measured reliably. Expendlture Liabilities a regniSed as expenditure as soon as Ihere is a legal or constructive obligation cownmilting Ihe Charity to that expenditure. il is probable that a transfer of economic benefits will be required in setdemenl and the arrUnt of the obligation Can be measured reliably. Expenditure is accounted for on an accruals basis and has been dassified under heading5 that aggregate al c05t felated to the category. Where ¢osts cannot be directly attributed to particular headings they have been allocated lo actiwties on a basis consistent the use of resources. Taxatlon The charity is expmpt from lax on its chantsble a¢tivities. Fund ac¢ountlny Unrestrlcted funds can be used in accordance with the chaFitable objective5 at the discretion of the trustees. Restricted funds Can only be used for particular restii¢ted purposes wthin the objects of the charity. Restrictions arise when spec*fied by the dontx or when funds are raised for particular restricted purposes. Ftjrther explanation of Ihe nature and purpose of each fund is included in the notes to Ihe financial statements. Pension costs and other post-retiyemgnt b8nefits The charity operates a defined contribution pension scheme. Contrib(rtions payable to the charivs pension 5cheffle are charged to the Ststsmenl of Financial Activ¢ties in the period lo thich they relate. Page 6 continued...
An Ilcan Co.nvot[0n E.uro Notes to the Financlal Statements- contlnued for the Year End 31st March 2024 ACCOUNTING POUCIES- contlnued Financial instruments The charity has chosen to adopt the Sections 11 and fj2 of FRS 102 in respect of financial instruments. lil Finan¢ial assets Basic financial a$5els, including trade and other receivables, cash and bank balances are initially rocognised al Iiansaclion price, unless the aThangement constitutes a financing transaction, where the transaolion is measured at the present value of future receipts. discounted at a market rate of interest. lil) Financial liabilities Basic financial liabilities. including trade and other payables are initially recognised at transaction prtce, unless the arrangement constitutes a financing transaction. where the debt instrument is measuied al the present value of future payments, discounted at a market rate of interest. Debt instruments are SubSeqndY carried at 8mortised cost, using the effective interest rate method. DONATIONS AND LEGACIES Period 20.6.22 to 31.3.23 Ygar Endod 31.3.24 Donations 51.598 72,040 4,252 Gfft aid 51.598 76,292 CHARITABLE AcnviTIES COSTS DI¢t Costs (see note 5 Support Costs (see note 6} Totsls Internal expenses Govemance costs Giving to others 41,558 41,558 878 2.400 878 2.400 43,958 878 44.836 Page 7 continued...
vocat olot0 the Financial Statements- continued for the Year Ended 31st March 2024 DIRECT COSTS OF CHARITABLE ACTMTIES Perioj 20.6.22 Year Ended 31.3.24 31.3.23 Staff costs Travel costs Insuran Subscripts'ons orrice cosis Stipend contributions Sundries 15,127 2,322 259 426 14,683 27,899 249 1.441 71 23.012 1.010 2.400 43.958 68.365 SUPPORT COSTS Govemance sts Govemance costs 878 Support costs, included in the above. are as follows.. Period 20.6.22 Yoar Ended 31.3.24 Govemance 31.3.23 Total activities Accountancy and legal fees 878 730 TRUSTEES. REMUNERAnoN AND BENEFITS SlipeThJ contributions of £23.424 were paid to Rt Rev A J Line5 during the year as a part payment of salary12023'. £23.012}. There were no other Iruslee's remuneration or benefits for ihe year ended 31st Marth 2024. Trustg9s' expgn$o$ There no trustees. expenses paid for the year ended 31st March 2024 nor for the period ered 31st March 2023. Page 8 Continued...
Anglican ConviKation Euro Nol8$ to tho Flnan¢ial Statements . continued for the Year Ended 31$t Mar¢h 2024 STAFF COSTS Peri 20.6.22 to 31.3.23 Year Ended 31.3.24 Wages and salaries So¢i81 security costs Other pension costs 13.860 657 610 13,873 448 362 15.127 14.683 The average monthly number of employees during the year was as follows.. Period 20.6.22 Year Ended 31.3.24 31.3.23 Administration No employees received emoluments in ex¢ess of £60,000. COMPARATIVES FOR THE STATEMENT OF RNANCIAL ACTIVITIES Unrestricted fund Restricted fund Totsl funds INCOME AND ENDOWMENTS FROM Donations and legacies 52.114 24,178 76.292 Omer IOme 640 Total 52,754 24,178 76,932 EXPENDITURE ON Charttable activitie5 Internal èxpenses Govemance costs Givlng to olhefs 44,187 730 44.187 730 24,178 24,178 Total 44,917 24,178 69,095 NET INCOME 7,837 7,837 TOTAL FUNDS CARRIEO FORWARD 7.837 7,837 Page 9 conlinued...
A Ilcan onvocatl n Euro Notes to the Financial Statement5- continued for the Year Ende(131st fv1arch 2024 10. INDEPENDENT EXAMINER'S FEES The amounts payabie lo the independent examiner for the period are as follows: Independent examinalion Accountancy services £162 £552 11. CREDrroRS: AMOUNTS FALLING DUE VIIThIN ONE YEAR 2024 2023 sla1 security and other taxes Accrued expenses 521 714 724 1,235 1,218 12. MOVEMENT IN FUNDS Nel movement in funds At 31.3.24 At 1.4.23 Unrestrictod fund$ Gelle1 fund 7,837 6.792 14629 TOTAL FIINDS 7.837 14629 Net movement in fvnds. induded in Ihe above are as follows.. Incoming re8our¢ea Resources expended Movemenl in funds Unrestricted funds General fund 51.628 (44.836) 6,792 TOTAL FUNDS 51,628 144,836) 6,792 Comparativos for movem8nt in funds Nel movement in funds At 31.3.23 Unr8stricted funds General lund 7.837 7,837 TOTAL FUNDS 7.837 7.837 Page fo conttnued...
Anglican_convocation Euro Notas lo th* Financial Statements- continued for the Yoar Ended 31st Mar¢h 2024 12. MOVEMENT IN FUNDS - contlnu•d Comparative net movement in ftjnds, tnduded in the 8bove are as follows.. Incoming resources Resources expended Movement in funds Unrestricted funds General Itjnd 52,754 144,9171 7,837 Restricted funds Kigali ftjnd 24.178 124,1781 TOTAL FUNDS 76,932 169.0951 7,837 13. RELATED PARTY DISCLOSURES Other than the stipend contribution referred to in note 7, there were no related party Iransaclions foT the year ended 31st Mar¢h 2024. Page11
onvocatlon Euro a_Iled_ Statement of Financial Activities for the Year Ended 31st March 2024 Period 20.6.22 lo 31.3.23 Year Ended 31.3.24 INCOME AND ENDOWMENTS Donations and legacies Donations Gift aid 51.598 72.040 4,252 51.598 7fj,292 Othor Incom8 Bank compensation 30 Total Incomlng resources 51.628 76,932 EXPENDITURE Charttabl• actlvltiOS Wages Social security Pensions Travel costs Insur8n¢e Subscriptions offi costs Stipend contributions Sundries 13,860 657 610 2,322 259 426 13,873 27.899 249 1,441 71 23.012 1.010 23A24 2,400 43,958 68,365 Support costs Governance coyts Accountancy and legal fees 878 730 Totsl resources expended 44,836 69,095 Net Income 6.792 7.837 This page does not fomi part of the statutory financial statements Page 12