2023-03-31-accounts - The Order Of The British Empire Chapel Fund

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The Order of the British Empire Chapel Fund Annual Trustees’ Report Period: 1[st] April 2022 – 31[st] March 2023 Charity Number: 208077

Reference and Administration

Trustees

The Right Reverend and Right Honourable Dame Sarah Mullally DBE

Prelate

Lieutenant General Sir Robert Fulton KBE

King of Arms

Dr Simon Case CVO

Secretary

The Very Reverend Andrew Tremlett

Dean (from September 2022)

Dame Amelia Fawcett, DBE, CVO

Lady Usher of the Purple Rod

Lieutenant Colonel Stephen Segrave

Registrar

Principal Office

Central Chancery of the Orders of Knighthood St James’s Palace

London SW1A 1BH

Structure and Governance

The Trust is a registered charity, number 208077, and is constituted under a Declaration of Trust dated 9[th] April 1957.

Objects

a. to provide, furnish, equip and maintain a Chapel in the crypt of St Paul’s Cathedral to be available for the devotions of persons belonging to the said Order and for the holding of religious services by members of the Most Excellent Order of The British Empire and to provide for the holding of services connected with such persons

to provide for the holding by the Order of religious services in the main body of the said Cathedral

b. to provide facilities for the attendance of persons belonging to the said Order at public religious services held in the main body of the said Cathedral
c. to provide for all such matters as may be necessary for the purposes aforesaid or may otherwise be necessary or fitting in connection with the use of the said Cathedral as the church of the said Order

Provided always that the said Chapel shall be available for such religious purposes consistent with the purposes aforesaid as the Dean and Chapter may think fit and nothing herein contained shall be taken to exclude members of the public from the said Chapel or the said religious services held by the Order.

Activities

In addition to the main activities undertaken for the public benefit by the members of the Order, large numbers of the invited public attend memorial and other Christian services in the Chapel throughout the year, without direct connection to the Order. Other special Christian services are held at the behest of the Dean and Chapter, for members of the public unconnected with the Order, from time to time.

The Chapel is open daily for reflection and prayer, and for the visiting public to see the many historical memorials in the crypt of the Cathedral. The Chapel is used by the Cathedral’s education department, as part of the opportunity offered to the 27,000 young people who visit annually on this programme. This degree of public access does not conflict with the Order’s usual needs for access to its own Chapel. The trustees have regard to the guidance issued by the Charity Commission on Public Benefit.

The Order’s last Ceremonial Service was held on 16[th ] November 2022.

Achievements and Performance

The Order sponsors a Chorister at St Paul’s Cathedral School. The Chorister takes part in services held in the Chapel and the Cathedral floor, and is progressing well in his studies.

The Order continues its Music Outreach Programme, started in 2014, to provide community outreach and education. The programme takes choral and organ music into schools across Greater London and beyond, engaging thousands of children from all backgrounds in making music, culminating in performances and services at the Cathedral. The Hackney Children’s Choir is part of this work, and the programme offers life-changing musical opportunities for hundreds of local children through weekly rehearsals, school visits, and holiday courses. The OBE Organ project introduces the William Drake OBE Organ to diverse young audiences, and the programme has now resulted in pupils taking up the instrument for private study. Since his appointment as OBE Organ Outreach Fellow, Mr Tom Daggett, has worked with over 13,000 children and young people.

Services held within the Chapel of the Order during 2022/2023 by Members of the Order and those with family connections:

Weddings -
Baptisms -  Memorials - 2

The Order had assisted St Paul’s Cathedral in the admirable work to make the Cathedral accessible to everyone. The permanent access ramp to the North Transept enabled visitors with access requirements to enter the Cathedral with ease. The Officials had given a sizable donation on behalf of the Order and had encouraged members of the Order to donate to the appeal.

Risk Management

Periodically, the Trustees identify and review the major risks that may affect the stability and successful operation of the Charity. An action plan is implemented to minimise or mitigate any highlighted risks.

Financial Review

The Order of the British Empire Chapel Fund’s major sources of income are from donations made by members of the Order, tax rebates from these donations, and the interest and dividends from the Order's investments.

The total income for the financial year 2022-2023 is £134,340, while the total expenditure is £107,792 resulting to an income surplus of £26,548.

The Order paid St Paul’s Cathedral an annual grant of £47,000 and £11,837 for the Music Outreach Program and Chorister tuition and bursary, respectively. The last Ceremonial Service held in November 2022 incurred a total cost of £43,457.

The total market value of the investments in March 2023 is down by £57,716 compared to last year’s valuation. The Trustees review the performance of the Investment Manager on a regular basis and during the annual Officials' meeting.

The total assets at the end of the period is £4,644,392 with £253,282 of these funds are held at Coutts Bank, £2,738,625 in the form of investments and £1,635,314 as properties.

The Trustees require unrestricted reserve funds to be at least enough to cover the Order’s annual projected outgoings of £125,990. In the Trustees' view, the reserves should provide the Order with adequate financial stability and the means for it to meet its objectives for the foreseeable future. The Trustees regularly review the amount of reserves that are required to be able to support the Order’s services and charitable contributions.

Auditors: G J Lowe Ltd, Pennyweights, 163 Welcomes Road, Kenley, Surrey CR8 5HB Bankers: Coutts & Co., Villiers Office, 440 Strand, London WC2R OQS Investment Manager: Cazenove Investment Management Ltd, Schroder & Co. Limited, 1 London Wall Place, GB London, EC2Y, 5AU

Declaration

The Trustees declare that they have approved the above Trustees’ Report.

Signed on behalf of the Charity’s Trustees:

Signed by:

THE MOST EXCELLENT ORDER OF THE BRITISH EMPIRE ACCOUNTING STATEMENT OF THE CHAPEL MAINTENANCE FUND FOR THE YEAR ENDED 31st MARCH 2023

2022 INCOME SUBSCRIPTIONS & DONATIONS £95,403.63 Subscriptions received £95,831.65 £22,490.00 Donations received £20,160.00 DIVIDENDS & INTEREST £44.93 Coutts 90 Day Interest £362.48 £13.44 Coutts MM Account £303.63 £38,034.71 Cazenove Investment Income £2,087.96 £0.00 ROYALTIES FROM SALE OF MEMORABILIA INCOME TAX REBATE 2022-2023 Subs & Donations £16,200.70 2021-2022 Subs & Donations £172,187.41 £172,187.41 LIABILITIES £0.00 £4,428,971.78 Fund @ 01/04/22 £141,055.30 Increase/Decrease in the value of Fund Assets £107,620.55 Exces of Income over Expenditure 2023 £4,677,647.63 The Property was last valued in March 2013 and the Mantles in November 2009 The above accounts have been examined and in my opinion are correct Accountant, G J Lowe FCCA	2023 EXPENDITURE CONTRIBUTIONS Music Outreach Program £115,991.65 Scholarships EVENSONG ST.PAUL'S CATHEDRAL SERVICE £2,754.07 INSURANCE Combined Insurance £904.51 POSTAGE £14,689.81 ACCOUNTS PREPARATION £0.00 £134,340.04 SURPLUS INCOME OVER EXPENDITURE £134,340.04 BALANCE SHEET AT 31st MARCH 2023 ASSETS PORTFOLIO - MARKET VALUE @ 31/03/23 Cazenove UK Equities Cazenove International Equities Cazenove UK Bonds Cazenove International Bonds Cazenove Private Equity Cazenove Property Fund Cazenove Commodities Cazenove Other Cazenove Cash Mantles Organ at St. Paul's Property at St. Paul's Coutts Money Market Coutts 90 Day Notice Coutts Acessibility Account £0.00 £4,677,647.63 Debtors and prepayments (£59,803.96) Creditors and accruals £26,548.28 £4,644,391.95 FUNDS AT BANK PROPERTY	£87,716.00 £1,697,007.00 £147,436.00 £195,147.00 £0.00 £145,019.00 £125,691.00 £137,936.00 £202,673.00 £10.00 £300,000.00 £1,335,304.00 £214,032.68 £39,168.16 £81.11 Order of the Britis Order of the Britis	2023 £47,000.00 £11,837.00 £43,456.71 £3,367.05 £1,549.00 £582.00 £107,791.76 £26,548.28 £134,340.04 £2,738,625.00 £1,635,314.00 £253,281.95 £4,627,220.95 £18,283.00 (£1,112.00) £4,644,391.95 h Empire h Empire	2022 £47,000.00 £11,247.00 £1,340.37 £3,106.90 £1,302.59 £570.00 £64,566.86 £107,620.55 £172,187.41 £2,796,341.00 £1,635,314.00 £227,536.88 £4,659,191.88 £19,567.75 (£1,112.00) £4,677,647.63 Approved

Independent Examiner’s Report to the Officers of The Most Excellent Order Of The British Empire

We report on the accounts of the Order for the year ended 31 March 2023, which are set out on the attached sheet.

Respective responsibilities of officers and examiner

The charity’s officers are responsible for the preparation of the accounts. The charity’s officers consider that an audit is not required for this year (under section 43(2) of the Charities Act 2011 (the 2011 Act)) and that an independent examination is needed.

It is our responsibility to:

examine the accounts (under section 43(3)(a) of the 2011 Act);
to follow the procedures laid down in the General Directions given by the Charity Commissioners (under section 43(7)(b) of the 2011 Act); and
to state whether particular matters have come to our attention.

Basis of independent examiner’s report

Our examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as officers concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts.

Independent examiner’s statement

In connection with our examination, no matter has come to our attention:

(1) which gives us reasonable cause to believe that in any material respect the requirements

to keep accounting records in accordance with section 41 of the 2011 Act; and
to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act have not been met; or

(2) to which, in our opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Gary Lowe Chartered Certified Accountant

Pennyweights 163 Welcomes Road Kenley Surrey CR8 5HB

6 November 2023