Charlty number: 215834 MENEVIA AND WREXHAM INFIRM SECULAR CLERGY FUND UNAUDITED TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2026 WR Partners Protecting your future.
MENEVIA ANI) WREXHAM INFIRM SECULAR CLERGY FUND CONTENTS Page Referenco and administratlve dètails of the Charlty, Its Trustees and advisers Truste8s' report Independont gxamlneVs report Statement of flnancial actlvltles Balance shget Notss to the flnanclal statements 9-1e
MENEVIAAND WREXHAM INFIRM SECULAR CLERGY FUND REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 5 APL 2026 Trustees Cannon Terence Anthony Carr, Chairman Father John Thomas Reverend Father John Browne CharEty reglstered number 215834 Princlpal offic8 The Presbytery Maude Street Connahs Quay Flinlshire CH5 4EQ se¢trry Father Joseph Stewart, Treasurer, Correspondent and Assistant SecTetary Accountants WR Partners Chartered Accountants Belmont House Shrewsbury Business Park Shrewsbury Shropshlre SY2 6LG Bankers HSBC Trelawney Square Flinlshire CH6 SAH Solicitors Allington Hughes 10 Grosvenor Road Wrexham LL111SD Page 1
MENEWAAND WREXHAM INFIRM SECULAR CLERGY FUND TRUSTEES, REPORT FOR THE YEAR ENDED 5 APRIL 2026 The Trustees present their annual report together with the financial slalemenls of the Menevia and Wrexham Infirm Secular Clergy Fund for the year 6 April 2025 to 5 April 2026. Objectives and actlvltles a. Policies and objectives The fund delivers public benefit through the relief of poverty of those receiving grants. In selling objectives and planning for aclivilies, the Trustees have given due consideration lo general guidance published by the Charity Commission relating lo public benefit, including the guidance 'Public benefit.. running a charity IPB21'. b. Grant-making policies Benefit grants may be made to OT for the benefit of any member who on account of age or infirmity is unable lo allend the duties of his office. The level of grants is decided by the Annual General Meeting but their application lo original cases is at the discretion of the Council. Application for sick grants can be made after one monlh of sickness and within three months of incapacity commencing. Sickness grants are intended lo help applicants with expenses incurred as a result of their sickness or to make up income lost as a resutt of sickness, so that applicants can maintain a reasonable standard of living. Achievgments and perfomiance a. Revlew of activities During the year. the Fund made 19 grants tolalling £28,50012025'. 16 grants totaling £25.5001. b. Investment pollcy and performance The value of the Fund's investments inCaSed over the year from £1,001,561 10 £1,072,654 investment income amounted lo £25,801 {2025.' £27.142.1 The Fund's investment strategy with its financi818dvisors Quilter & Co Ltd is to adopt a low risk approach and invest 700/0 in equities and 30QA in gills, a policy which is kept under annual review. The Trustees are of the opinion that the policy objectives have been met during the year in regard to both income and capital growth. Financial revlew Go5ng concern After making appropri81e enquiries. the Trustees have a reasonable expectslion that the Charity has adequate resources lo continue in operational existence for the foreseeable future. For this reason. they continue lo adopt the going concern basis in preparing the financial 51alemenls. Further details regarding the adoption of the going concern basis can be found in the accounting policies. Page 2
MENEV]AAND WREXHAM INFIRM SECULAR CLERGY FUND TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 5 APRIL 2026 b. Reserves policy The Trustees try lo maintain healthy reserves in order to Preserve their investment portfolio. As above, grants awarded distribute the investment income whilst maintaining the investment portfolio. Nel expenditure for the year before investment gainslllossesl amounted lo £12,842. Of the closing funds tol811ing £1,180,621, £217,721 represented accumulative unrealised gains in the market value of investments carried fonNard. After accounting for inveslmenls, free reserves al the year end amounted lo £1 07.712025.. £113,153). c. Prlnclpal rlsks and uncertainties The Trustees try to minimise risk by considering the annual level of grant making lo be never disproportionate to income of the Fund, thefore guaranteeing that the size of the investment is maintsined. Structure, governance and management a. Constitution Menevia and Wrexharn Infirm Secular Clergy Fund is a registered charity. number 215834. and is constiluled under a Trust deed. The principal objects of the charity are firstly the financial support of those of the clergy of the DI0se5 of Menevia and Wrexham who being subjects of those Dioceses and members of the Fund shall be incapable through infimiily in old age or sickness of performing duties of their office, and secondly the spiritual aid of the members and benefactors liwng and dead. The beneficial area covered by the Trust is the Roman Catholic Dioceses of Menevia and Wrexham. b. Methods of appointment or electlon of Trustees The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed. Organisational structure and decision.making policles The business of the Fund is Iransacled by 8 Council which consists of the President. the Treasurer, the Secretary and non-officer Councillors elected al the Annual General Meeting. The Council meet sufricienl often lo have practical control over the affairs of the Fund. d. Principal activities The fund receives investment income from ils portfolio and distributes grarits lo qualified applicants as the Trustees determine in their meetings. Plans for future periods The Trustees have assessed the potential impact tsn the future operations of the charity, taking into account ils underlying financial resources and strength. The Trustees consider the charity lo be well positioned lo manage the current situation and secure operations into the future. Page 3
MENEVIA AND WREXHAM INFIRM SECULAR CLERGY FUND TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 5 APRIL 2026 Statement of Trustees, responsibilities The Trustees are responsible for preparing the Trustees. report and the financial slalemenls in accordance with applicable law and United Kingdorn Accounting Standards IUn¥Led Kin9dom Generally Accepted Accounting Pra¢lice}. The law applicable lo charrties in England & Wales requires the Trustees lo prepare financial slalemenls for each financial year which give a true and fair view of the slate of affairs of the Charity and of ffts incorning resources and application of resources, including ils income and expenditure, for that period. In preparing these financial slalemenls, the Trustees are required lo.. select suitable accounting policies and then apply them consislenlly., obsetve the methods and principles of the Charities SORP (FRS 102}', make judgments and accounting estimates that are reasonable and prudent., slate whether applicable UK Ac¢ounling Standards IFRS 1021 have been followed, subject to any material departures disclosed and explained in the financial slalemènts., prepare the financial slalements on the going concern basis unless it is inappropriate to presume that the Charity will Continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charitvs transactions and disclose with reasonable accuracy al any lime the financial position of the Charty and enable them to ensure that the financial slalemenls comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 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 irregularities. Approved by order of the members of the board of Trustees and signed on their behalf by.. Cannon Teren¢e Anthony Carr (Chair of Trusleesl Date.. 41 06,-Jo26' Page 4
MENEVIA AND WREXHAM INFIRM SECULAR CLERGY FUND INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 5APRIL 2026 Independent Examlnerfs Report to the Trustges of Menevls and Wrexham Inflmi Secular Clergy Fund I'th8 Charlty'} I report to the charty Trustees on my examination of the accounts of the Charity for the year ended 5 April 2026. Responslbllltlgs and Bagls of Report As the Trustees of the Charity you are responsible for the preparation of the accounts In accordance with the requiremen15 of the Charities Act 2011 Ilhe 2011 Act). I report In respect of my examination of the Charivs accounts carried out under section 145 of the 2011 Act 8nd in carrying out my examination I have followed the applicable D1CtionS given by the Charity Cornmission under section 14515llb} of the 2011 Act. Page 5
MENEVIA AND WREXHAM INFIRM SECULAR CLERGY FUND INDEPENDENT EXAMINER'S REPORT ICONTINUED) FOR THE YEAR ENDED 5 APRIL 2026 Independent Examlnerfs Statement Your attention is drawn lo tre fact that the Charity has prepared the awounls in accordance with Accounts'ng and Reporting by Charities.. Slalemenl of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 in preference to the Accounting and Reporting by Charities.. Statement of Recommended Practice issued on 1 April 2005 which is referred lo in the extant regulations but has been wrthdiawn. l understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting pra)ce effective for reporting periods beginning on or after 1 January 2015. I have completed my examination. I confirm that no matters have Come to my allenlion in nnectIon with the examination gThiing me cause to believe that in any material respect.. accounting records were not kept in respect of the Charity as required by section 130 of tha 2011 Act,. or the accounts do not accord with those records,. or the a¢¢ounls do not Comply with the applicable requirements concerning the form and content of accounts sel out in the Charitie5 (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'lrue and fairf view which is not a matter considered as part of an independent examination. I have no concerns and have corne across no other matters in connedion with the examination to which allenlion should be drawn in this report in order lo enable a proper understanding of the accounts to be re8ched. This report is made solely lo the Charity's Tru51ees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might stale lo the Charills Trustees those matters l am required lo slate lo them in an Independent examiner's report and for no other purpose. To the fullest extent permilled by law, I do not accept or assume responsibility lo anyone othèr than the Charity and the CharrfLls Trustees as a body, for my work OT for this report. Signed.. S J Tweedle Dated.. Bsc FCA DChA WR Partner5 Chartered Accounlanls Belmont House Shrewsbury Business Park Shrewsbury Shropshire SY2 6LG Page 6
MENEVIA AND WREXHAM INFIRM SECULAR CLERGY FUND STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2026 Unrestrlcted funds 2026 Total funds 2026 Total funds 2025 Note Income from: Donations and legacies Investments 1,670 25,801 1,670 25,801 1, 720 27, 142 Total income 27,471 27,471 28.862 Exp9nditure on: Charitable activities 40.313 40,313 36, 751 Total gxpendlture 40.313 40.313 36, 751 Net expandlturg before net gains on invostmgnts Nel gains on investments 112,842) 78.749 112,842) 78.749 (7.889) 29,069 Net movoment In funds 65,907 65.907 21. 180 Reconclllatlon of funds: Total funds brought forward Net movement in funds 1,114,714 65,907 1,114,714 65.907 1,093,534 21. 180 Total funds carrled forward 1,180,621 1,180,621 1, 114, 714 The Statement of Financial Activities includes all gains and losses recognised in the ye8r. The notes on pages 9 to 16 fom part of these financial statements. Page 7
MENE4llA AND WREXHAM INF5RM SECULAR CLERGY FUND BALANCE SHEET AS AT 5 APRIL 2026 2026 2025 Note Flxed ass#ts Inv8slmenls 10 1,072,654 1,001,561 1,072,654 1,001,5SI Current assats Debtors Cash at bank and In hand 11 3,309 109,188 3.270 114, 145 112A97 117,415 Current liabilitles Creditors.. amounts falling due within one year 12 (4,5301 (4,262) Net current assets 107,967 113, 153 Total assets less current Ilabllltles 1,180,621 1, Y 14, 714 Total net 899ets 1,180,621 1, 114, 714 Charlty funds Restrict funds Unrestricted funds 13 13 1,180,621 1, 114. 714 Total funds 1,180,621 1.114. 714 Th8 financial statements were approved and authorised for issue by the Trustees and signed on thoir behalf by. Cannon Tgrence Anthony Carr (Chair of Trustees) Date.. The notes on pages 9 to 16 form part of these financial statements. Page 8
MENEVIA AND WREXHAM INFIRM SECULAR CLERGY FUND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2026 General information Enter text here - user input Accountlng policies 2.1 Basis of preparatlon of financlal statements The financial statements have been prepared in accordance with the Charities SORP (FRS 1021 Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in accordance wi(h the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffeclive 1 January 20191, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Charities Act 2011. The financial slalemenls have been prepared lo give a 'lrue and fair, view and have departed from the Charities (Accounts and Reports) Regulations 2008 only lo the extent required lo provide a 'lrue and fair, view. This departure has involved following the Charities SORP IFRS 1021 published in October 2019 rather than the Accounting and Reporting by Ch8rilies." Ststemenl of Recommended Practice effective from 1 April 2005 which has since been withdrawn. Menevia and Wrexham Infim) Secular Clergy Fund meets the definition of a public benefit entity under FRS 102. Asset5 and liabilities are initially recognised al historical cost or transaction value unle55 otherwise staled in the relevant accounling policy. 2.2 Income All income is Te¢ognised once the Charty has enlillemenl lo the income, il 15 probable that the income will be received and the amount of income receivable ean be measured reliably. Income lax recoverable in relation lo investment income is recognised at the time th8 investment incorne is receivable. 2.3 Expenditure Expendiluie is recognised once there is a legal or conslruclive obligation to transfer economic benefit lo a third paty, it is probable th81 a transfer of ecDnomic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is 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 allribulable lo a single activity are allocated directly lo that a¢livily. Shared costs which contribute to mor& than one aclivily and support costs which are not attributable to a single activity are apportioned between those activities on a basis consislenl with the use of resources. Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs. Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the Conditions allaching are fulfilled. Grants offered subject lo conditions which have not been mel 81 the year end are noted as a commitment, bul not accrued as expenditure. All gxpenditure is inclusive of irrecoverable VAT. Page 9
MENEVIA AND WREXHAM INFIRM SECULAR CLERGY FUND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2026 Accounting policies l¢ontinuedl 2.4 Investments Fixed asset investments are a form of financial instrument and are inrtially recognised al their transaction cost and subsequently measured at fair value al the Balance sheet date, unless the value cannot be measured reliably in which case il is measured al cost less impaimenl. Investment gains and losses, whether Tealised or unrealised, are combined and presented as 'GainsllLossesl on investments. in the Slaternent of financial activf(ies. 2.5 Debtors Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 2.6 Cash at bank and in hand Cash al bank and in hand includes cash and short-term highly liquid investments with a short Maturity of three months OT less from the dale of acquisition or opening of the deposit or similar account. 2.7 Liabilities and provisions Liabilities are recognised when there is an obligation 81 Ihe Balance sheet date as a result of a past event. il is probable that a transfer of economic benefit will be required in settlement. and the amount of the selllemenl can be estimated reliably. Liabilities are recognised at the amount that the Charity anticipates il will pay to settle the debt or the amount il has received as advanced payments for the goods or services it musl provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present valu8 of those amounts. discounted al the pre-tax discount rale thal reflects the risks speGffic to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a linance cost. 2.8 Flnanci81 instruments The Charity only has financial asset5 and fi'nancial liabilities of 8 kind that qualify as basic financial inslrumenls. Basic financial instruments are initially Tecognised al transaction valLse and subsequently measured al their selllement value wilh the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. 2.9 Fund accountlng General funds are unrestri¢led funds which are available for use al the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other PUTposes. Investment income, gains and losses are allocated lo the appropriate fund. P8g8 10
MENEVIAAND WREXHAM INFIRM SEGUIAR CLERGY FUND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2026 Incomo from donailons andlggacles Unrestrlcted funds 2026 Total funds 2026 To181 funds 2025 Similar incoming resources 1,670 1.670 1, 720 To1812025 1, 720 1, 720 Investment Income Unrestricted funds 2026 Total funds 2026 To181 funds 2025 Income listed investments Investment income -tre8SUry Stock 25,403 398 26.403 398 26,831 311 25,801 25,801 27,142 Total 2025 27, 142 27, 142 Analysls of grants Grants to Indlvlduals 2026 Total funds 2026 Total funds 2025 Grants 28,500 28,500 25,5QO Tota12025 25,500 25,5LIO Page11
MENEVIA AND WREXHAM INFIRM SECULAR CLERGY FUND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL 2026 Analysis of expendltur9 on charltable 8¢tlvltle8 summary by fund type Unrestrlcted funds 2026 Total 2026 Tot81 2025 Grant maklng 40,313 40,313 36, 751 Total 2025 36, 751 38,751 Analysls of expendlture by actlvltles Grant fundlng of activltles 2026 Support costs 2026 Total funds 2026 Total funds 2025 Grant making 28,500 11,813 40,313 36,751 Tot812025 25,500 11,251 36.751 During the year the charity rnade grant payments lo 19 Individuals lotalling £ 28,500 12025.. 16 grants ta indNiduals tolalling £25,5001 Page 12
MENEVIA AND WREXHAM INFIRM SECULAR CLERGY FUND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED SAPRIL 2026 Analysls of oxpendlture by actlvltles Icontlnuedl Analy$l$ of support C05ts Total funds 2026 Total funds 2025 A¢tivltles 2028 Administration Meetings Travel expenses Bank charges Investment management fees Gov8m8nce co818 e8 1.275 124 29 7.797 2,520 68 1.275 124 29 7,797 2,520 245 1. 145 77 70 7.314 2,400 11,813 11,813 11.251 Tot812025 11,251 11,251 Independent examlneffs remuneration The independent examln8ff 8 remuneration amounts lo an Independent examiner fee of £2.520 {2025 - £2,400). Trustees. remuneratlon and expenses During the year, no Trustees received 8ny Temuneration or other benefits (2025- £NILJ. During the year ended 5 April 2026. no Trustee expenses have been incurred (2025- £NIL). Page13
MENEVIAAND WREXHAM INFIRM SECULAR CLERGY FUND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2026 10. Flxed asset Investmènts Other fix•d Llsted asset Investments Investments Total Cost or valuatlon At 6 April 2025 Addfiions DSspo$als Revaluation8 975,130 134,671 (129,5521 63,711 26A31 144,585 (142,3221 1,001,561 279.266 1271,874) 63,711 At 5 April 2028 1.043,960 28,694 1,072,654 Net book value Al 5 April 2026 1.043,960 28,894 1.072,654 At 5AprH 2025 975,130 26,431 1,001,561 11. Debtors 2026 2025 Dug wlthln one year Prepayments and 8ccrued income 3,309 3,270 3,309 3,270 12. Creditors., Amounts falllno du? wllhln one year 2028 2025 Accruals and deferred income 4,630 4.262 Page 14
MENEVIA AND WREXHAM INFIRM SECULAR CLERGY FUND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED S APRIL2026 13. Statament of funds Statemgnt of funds- current year Balance at 6 Aprll 2025 Galnsl Balanc• at S (Lossesl April 2026 Income Expendlture Unrestrieted funds General Fund8 1,114,714 27.471 140,3131 78,749 1,180,621 Statement of funds - prlor year Balsnce at l Apnl 2024 Galns/ 88lance 81 (Lossesj 5 AFn-12025 Income Exp8nditure Unrestrlcted funds General Funds t.093.534 28, 862 (36. 751) 29,069 1, 114,714 14. Analysls of not assets between funds Analysig of net assets bgtween funds - current year Unrestrl¢tsd fund$ 2026 Tolal funds 2026 Fixed asset investments Current assets Creditors due within one year 1,072,654 112,497 (4,5301 1,072,654 112.497 14.530> Totsl 1.180,621 1,180.621 Page 15
MENEVIAAND WREXHAM INFIRM SECULAR CLERGY FUND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5 APRIL 2026 14. An81y819 of not 49$ots b•tween fund8 Icontlnued) Analysts of net assèts between funds- prior year Unrestricted Endowment funds funds 2025 2025 Total funds 2025 Fixed asset Investments Current assets Creditors due wthin one year 1,001,561 117,415 (4,262) 1,tX11,561 ttT.415 (4,262) Total 1, 114, 714 1,114, 714 Page 16