## **Registered Charity 21776** **Report of Trustees and Audited Financial Statement For the year ended** **31st December 2022** ## **For** **The Secular Clergy New Common Fund** ## **Secular Clergy New Common Fund** ## **Registered charity no 217776** The Trustees are: Monsignor Nicholas Rothon (Chief Administrator) Monsignor Kevin Hale Monsignor Jonathan Martin Canon Michael O’Dea Canon John Cook Father Michael O’Dea The address of the Charity is: 5, Cresswell Park Blackheath, London SE3 9RD The Fund was established in 1803 to provide financial assistance to Aged, Sick and Infirm Catholic Clergy of what at the time was known as the London District and now comprises the Catholic Dioceses of Westminster, Southwark, Arundel and Brighton, Brentwood and Portsmouth. Membership of the Fund is open to Priests of the above Dioceses. The Trustees are elected by the members at a General Meeting. They are known as the Administrators of the Fund and comprise a Chief Administrator and an Administrator from each of the five Dioceses. The income from the fund comes income from investment capital, donations from member and from legacies. The fund makes grants to retired priests and to sick priests who have special needs. At present the annual grant is £700 to retired priests. Grants are made at the discretion of the Administrators. The policy of the fund is to distribute all available income. In some years there is a shortfall between income and expenditure but in the longer term this is covered by capital gains on the investment portfolio. The investment Capital is invested in the Barclays Charity Fund. Over the years this fund has provided a good and secure level of income for many charities. With the current level of income and capital, the Fund does not require a formal audit and to reduce expenditure, a report on the accounts has been prepared by a qualified independent examiner. ## Auditors report I have audited the accounting records and also the statement of financial activities and statement of financial position of the Secular Clergy New Common fund( the charity) for the year ended 31[st] December 2022 In my opinion the financial statement give a true and fair view of the state of the charity’s affairs as at 31[st] December 2022 and of the operation of the fund for the year then ended. Honory Auditor J.W. Coote. Secular Clergy New Common Fund Statement of Financial Activities For the year ended 31[st] December 2022. 31.12.22 31.12.21 Income and endowments from Donations and legacies 88327 18555 Investment Income 74731 33495 Total 163058 52050 Expenditure on raising funds 0 4060 Charitable activites Allowances to members 77700 80850 Other 6788 6294 Adjustments for Debitors and creditors removed 3207 Total 87695 91204 Net/gains losses on investments -186804 119752 Net Income(expenditure) -111441 80598 Reconciliation of funds Total funds brought forward 1370710 1290112 Total funds carried forward 1259269 1370710 ## Secular Clergy New Common Fund Statemetn of Financial Position 31[st] December 2022 31.12.22 31.12.21 Fixed Assets 1155548 1342353 Investments Current Assets Debtors - 6500 Cash at Bank 103721 25911 Total 103721 32411 Creditors - -4054 Net current Assets 10371 28357 Total assets less current Liabilities 1259269 1370710 Net assets 1259269 1370710 Total funds Unrestricted funds 1259269 1370710 _Approved by the Trustees on 26[th] July 2023 and signed on their behalf by Nicholas Rothon – Trustee_ _26[th] July 2023_