# **CHARITY REGISTRATION NUMBER: 230143 OSCR No: SC048259** ## **The Community of All Hallows Financial statements** **31 March 2023** The Community of All Hallows Financial statements Year ended 31 March 2023 Page Twstee Board's annual report Independent auditor's report to The Trustee Board 10 ststernent ol finallcial aclivilie5 14 Balance sh¥¥1 15 Statement of cash flows 16 Notes lo the financial slalements 17 The Community of All Hallows Trustee Board's annual report Year ended 31 March 2023 The Trttstee Board pre5en15 their report and the finanual st8lements of the charrty lor the year Ènded 31 March 2C123 The financial slatemenls have been prepared In accordance witr the accovnting policie5 Set out In notes lo Ihe accounis and comply Wllh the o*anty'5 governing documeni. the Chaiiiies Aci 2011 antj Awouniing an Reporting by Charlties. Stslernent of Reeornmend8d Practice applicable to eharits'es preparing their accounts In accordance with the Financial Reporting Standard applicab5e in the UK and Republic of I￿land published In Ociobèr 2019. A message from the sisters The Sisters in Bungay agree that by faT the most Important part ol our ministry takes pla￿ In ovr chapel a5 we say the 4_fold Office re9ulady each day and have ihe joy of 3n occasional Eucharist cg1@braiÉ*d here loo Sometimes there are Just the N¥0 of us. but we are also frequently joined by a small band of lailhlul Oblates, A550Clates. and the gvesls who are slaying wrth u5. We have picked up an Increasing nU￿be[ of prayer requests. somelimes from unlikely sources such as Ihe man who came to service our Aga and the one who sells bread at the Thursday Market, and we've supported quite a number Of people through various operation3 and family or health Grise5. We have had Requiem Masse3 In our chapel for our two Si5ter3 who have died this year, which were beaulifully celebrated and meant sudi a lot to those who were able to be Dresenl. In addrtion lo Ihe services in our chapel, we ￿gUlarlY join with the parish group saying Morning Prayer on Monday5 in Trinity church. and the Ev¢h8T1st￿ wor5h1p on Sunday5, where we are on the rola5 lof Reading, Interces&ons and Coffee. After the Wednesday Eucharist I take the sacrament to I lolmwood Residential Care Home with (fftè Of the Churchwardéns once a month, and each Monday afternoon when I visit Sr Edith Margaret I give her Communion from the Re5eryed Sacramenl in our chapel. In Advent and Lent we have Quiet Days open to anyone. with Addresses and a Eucharist In our chapel and freedom to use the rest ol the house for praying. reading eic and twice a year. in the Spring and Aulvmn we have days specially arranged for oui A550ciate5 anij Oblates. Those we've had this year have been very much appreciated. Keèping in touch with our Oblatès and Sr Pamèla by Notecards sent with their monthty Office Guides and Associates also by a card on Iheir Anniversaries and al other times Is a ministry within CAH as are phone 115 and WhaisApp messages between us. and Include our Novices. lrn August Sr5 Pamela. Rachel, Sheila and l. plus the 2 Nov¢es will be meeting at Wnitby foi our Annual General Chapter. 5 days In retreat and then 2 day s holiday together. It will be a good lime to hear about and affirrn our different ministries which are laT more diverse as a dispersed Community than was possible when we were a Residential Community with most of us at Ditchingham. Sister EIiz8belh Au9USt 2023 The Community of All Hallows Trustee Board's annual report Iconiinu8dJ Year ended 31 March 2023 Reference and admlnistrative details Registered ¢harlty name The Community of All Hallow5 hanty registraiion number Chariiy Commission 230143 OSCR SC046259 Prfin¢ipal office 23 Trinity st￿et Bungay Norfolk NR35 1EM Wioitor Rt Revd Timothy Stevgns CgE Trustee CAH Truslee Limited (Sole Corporate Trustee) Directots of CAH Trustee Llmitèd ITru6teo Boardl Revd Canon Andrew Bryant R9v(J Canon Richard Bowgtt IRÈsigned 6 De￿mber 20221 Sister Sheila Margaret Day Stuart Jones Inominated by the Bishop of Norwchl Sister Susan Elizabeth Oldman Sister Carolyn Rachel Beckell (appointed 10 July 20231 Revd Michael Kingston Christopher Dicker Alan Kenneth Cole (appointed 13 February 20231 S•nlor Staff Beth to those vjho visit and worship with the Sisters. 8fKI to the widèr public. The Board have referred lo the inforrnation contained in the Chanty Commission's 9uidanee on public benefrf and consider this when reviewing the aims and objective5 and In planning the COM￿u￿1ty.S future actI￿1t1es. The Community of All Hallows Trustee Board's annual report l¢onlinu8d) Year ended 31 March 2023 A¢hie¥*ments and perfom•n¢e Ho$pit•lity The Community continues lo offer ￿treat accommodation al Its properties.. All Halltrws House, Bungay and at Roan Cottage. BunE5san on thE Isle of Mull. It has wdcomed groups. Indwidua15. and member5 01 thE der family within the year. Some people comè for space. aC￿ptance. time to be listened to an¢J support during difficuli patches. Othérs arè sèarching for a qviei place lor prayer, reflec￿.0￿. seeking God in Ihe silence of beautiful surroundings Peace is the princip81 expenen¢e- especially In the chapel where Jesus 15 present in the tabernacle and from there spreads His Peace through the house and out into the garden. Guests that come are Thol charged for their slay. the Community welcome donations if 9uests feel themselves to be in a position lo coThtribute. Quièt Day$.. The Advent and Lent Qyiel Days were open for anyone lo attend, with Ad¢Jresses and a Eu¢harisl in our chapel and freedom to use the rest of the house lor praying. reading etc. The Assoaates and Oblales Quiet Day held in Sprin9 and Autumn were well attended and havc been vcry much apprcciatcd. A new discussion group has started by Sister Pamela In Mull lor people who are not churchgoers but curious and want to discuss and explore topics further. Spiritual dlr•ction and accompanlm•nt Sisters have maintained links with indiwduals, supporting them In their spiritual joumey and the way they embody this In their daily lives. Thèsè rèlatitsnships arè sometirnes formalised under the title of 'spiritual direction, and more commonly are Inft)rmal, proceedin9 at the pace and in the style that suits the people concerned. More people have asked for Spiritual Directs"on since the pandemic and that a¢¢wnls for much of ihe Sister5, time. Grantgiving.. The second installment of a Ihree-year grant was paid to the Community of Si5ter5 of the hur¢h towards their refvjgee work. Thé ggetsnd inst8llmgnt ol s Ihreg-ygar grant wsg paid to The Julian of Nonwieh Partnership in January. The grant is desonated for thè overheads of the house and staff costs. Funding has been 8warde(S to Dls¢overing Prayèr towards 8n online prayer course providing teachings and gumled audio prayer times. A grant was made to The Nonylch Samaritans towards the relurbishment an¢J modernising their NO￿l¢h premises. Funding was given lo The Institute for Children Youth and Mission towards an onlir7e le8ming plalform equipping people how lo minister to children and young people. A granl was awarded to Byngay M•dl¢•l C•ntr• Charltahlg Tru$tlSeott Charlty Vdhich provides funds for relief in sickness lor people livin9 in Bungay and the surrounding area. Dollations have a150 been given to Aberlour towards their urgenl assistance fund. Southton Smallholding towards their therapy work and lo Tobermory Lifeboat to assisl with their litesaving an(J rescue work on the Isle of Mull. Church A￿Y & WITH.. Church Army gave CAH Trvslee Ltd one-years notice lo terminate the lease ol the th'lehingham site in April 2022. 8$ 59dly Ihe WITH charity were unable to secure the funding to continue their opeT8tion. Building project$ have been left unfinished on ihe site, and Ihe goard have agreed a payment from Church Atmy to return the buildings io good order. The Community of All Hallows Trustee Board's annual report I¢oiiiinu Year ended 31 March 2023 Achievements and performance iconiinuedj Christian Confernnce Trust.. Thè Christian Conference Trust gave CAH Trustee Ltd one-years notice to lermin8le the lease of the onference centre in August 2022. The Board are working with The Benjamin foundation. a sub lenanl of CCT to secure the continuing provision foi childcare at the site. All Hallows Chapel. Ditchingham." The Board resolved to spend funds lo re-roof the All Hallows chapel roof to weserve the building. Financial review The Statemeni of Financkgl Actiwties Is summariscd as follows for this and the prceedin9 year." 2023 2022 Donations 3nd legacies Income 148,402 508,455 159,915 164.895 481.052 Other income Expenditure on eharitable activities Net in¢¢mellexpenditurel before {lo$$e$Vgains on investments 350.717 1632,3461 Nel Ilosse5llgains on investrnent5 an(6 ievaluallon5 438 692 552 283 Net movement in funds Prln¢ip•l fundlng $our¢es The principal funding sources during the year was Investment incorne from b)th the investrnenl portlolio and propèrtiès owned by the Community. Incorne has increased against last year largely due to the paymenl of the dilapidation claim from Church Army. Expendrture is Signifi￿NtlY lower than the previou5 peric*J because no mulli-year or large grants were awarded in the yeaf and there were fewer refurbishment cost5 for All Halbws. Norwich as the project was completed in JLJIY 2022. Fundralslng The Board understand5 Its duty to protect the public. induding vulnerable people, from unreasonably IntrLJsive or persistent fundrdising appro8ches and undue pressure to donate, and does not currently fundraise from the public or use any internal fundraisers or extemal fijndraising agencies for either telephone or face-lo-face campaigns and received no fundraisin9 complaints during the year. Reserves polScy It Is the Eloarcjs intention to mainlain Iree reserves equivalent lo approximataly 6 rnonth's expenditure including £100k for potential property repair$ 1£200kl_ The 8oard consider that thi5 level will provide sufficient to 5UPPOrt Ihe chanty." obJ"ectsves until thc invcstmcnts held arÈ liquidatÈd tsr Ètternative provisitsns for the activities are found. This policy is re￿8W&d annLJally. As at 31 March 2023 unrestritled free reserves were £512,318 (represented by unrestncted net cufrent assets) 12022. there We￿ no unrestricted free reserves as there were net Cu￿nI liabilities amounting to £264.232}. The Community alsts holds investments within unrestricted funds having a value of £7.839.946 12022." £8,746,554) al the year end. This is considered to be a capiial fund which generates dividend income lo support th& actiwties of the charity. Total funds held was £17,259,39712022. £17.347.3721. The Community of All Hallows Trustee Board's annual report {¢onlinued) Year ended 31 March 2023 Financial review Icontinuedl Investment policy and perfomianc• The 8tsard has adopted an ESG lenvironmenlal, social and governance) investrnent strategy In order that the undertying investnents ar& b&tt¢r aligned wilh their ethical views. The Invesimni stralegy has three key pillars. Exclusions avoiding investment into companies for which their core businèss falls into sectors or inoustnes which are at odds wlh an ethical investment poli 2. Positive tilt seekiThg investment Into companies which are performing strongly land avoid Companies performing poorfyl on kèy ESG credentials such as envirMmenlal impact and soual & govemance factors Impaci- Invesiing lTrto Gompanies which are aGtively Lviili ILiuliiig 10 8 SUSt8inable s￿IetY. primarily th their productslservices helpin9 tts address the UN'S sustainable developments goals ISDGsl. Alongside portfolio reporting, the Investment manager provides periodic updates on how investee cornpanies are performing against $L￿h criteria. The portfolio is managed by Barratt & Cooke with a cautious policy to produce 8 b318n¢8 between income and upital 9rowth over the longer term by ethicBI Investment In a range of equities. collectivo Intèrasts and fixed Interest stocks. The investment objective of the Board is to prtKluce a balanced return be￿een ¢8pi181 growth and Income. The income requirement should not erode the p¢tential to maintain kne capital value of the portfolio In real terms. The inve5ttllent strategy is one of medium risk. In nomal times fvnds are invested with a large bias towards equity investments for potential growth in capital and income. The equity element may consisl of managed funds, direct shareholdings and up Its 10% of higher nsk equiiies. Creating a diversified equity allwtion. The balance of the portfolio will provide èxposure to gilt. fixed interest and preference shares which will have a minirnum weighting of approximately 15°h. The 8oard appointed a professional firm of inveslment advisors to ensure thal Ihe Énvestment objective Is achieved and the strategy is fully implemenled. They mcjnitrjr the portfolio on a daily basis and reDOrt regularfy lo the Board During Ihe year the performance of the portlolio achieved £218.799 12022.. £258.2901 of income. The Community resolved to reduce the income requiremenl of the portlolio to £225,000. The inveslmenl portfolio decreasèd in value by10s5es of £438,692 12022.. gains of £552.28318nd after withdrawing funds of £450.0￿ 12022.. £168,418), the portfolio decreased in value by £888,692 12022.. increased £383,805) during the year. Social investsnents and investment propertles The gradual peri(xl of transition from when the Sisters were actively present in reasonable numbers al Ditchingharn to a more di$persed community hag led to many of thc Community's charrtable a¢tiwties baing tsken over by third parties, many ol them charities thernselves. Some ol the prop8rties are rented on commeroal basis and are classified as Investment properties generating incorne and wlh the potent181 for capital growth. Other properties are not suitable for letting on a fully eommeraal basis and the Trustee Board has taken decisions to lease these to other charities at 8 peppercorn rènt in return for the buildings being maintained to a good standard and On the basis Ihat the activities are dosely aligned with the charitable objectives tsf The Community of All Hallows. These come under the definition tsf Soual Investments, pieviously referred to by the Charity Commission as Programn)e-Related Investrnents. The Trustee Board considers that it has ftJlfllleJ Its respon5its'lity. in witli Cliarity Commission guidance, to ensure that the properties ar¢ let on base5 which are in the best Interes15 of the Charity. In addition. the C(Mmmunily own5 a number of Inveslment properties which are occupied by individuals. The Community of All Hallows Trustee Board's annual report fconiinu8dJ Year ended 31 March 2023 Plan5 for futur• periods Thg priority for tho Board is to Teturn Ihe buildings on the Ditchin9ham site lo good ordef and secure futurg tenants for both the conference centre and the Oilchingham site. As a dispersed Community the STster5 W111 continue with hospilalily, vocatson and thaiitatAe works. At present hvo Sisters live In a Comrnunity house In 8ungay. one occupies a Community property on the Isle of Mull and orne resides in a Community flat In Norwich. One Sister lives In a care homè in Bungay The Community will Gonlinue. whefe possibbe. to Use fijnds established from the renlal income of the hospital and nursing home site lo pursue an active policy ol making grants lo oiheT bodie5 and individuals who are able tts further the charity's obj'ects. Structure, g0￿ManCe and management IntroductloA The Community of All Hallows is a s¢xiety of women who have come together at the call of God to share a corporale life Its members. each of whom is referre gxpivss¥d. Tlie Chapter (￿nSistS of all S151ers who have made their Final Profession. The Joint Leaders are elected by a simple maionty c>1 all members ol the Chapter and confirmed In offi¢e by the Vigitor Thpy continue In office for three years and may be re-elected lor further Ihree-year periods in succession. li belongs to their office thal they should, at their discrelion. allo¢ale the Sislers, work and that undertaken by the Cornmunily. bul they have no ptswer to inaugurate new work w1thout the consent of Ihe Chapter nor shall any work authorised by the Chapler be relinquished wilhoLrt reference to the Chapter. In spiritual matters the Community is advised by the Visitor. the Rt. Revd. Timothy Stevens who. until his retirement. was the Bishop of LèicesleT and formerly B￿hOp of Dunwich. All administratsve matters, parlicularly those relaling lo the finances and prtsperty of the Communrty. are now the re5ponsib11ity of CAH Trustèe Limited. The salaries of key rnana9ernent pwsc>nnel is reviewed and agreed by the Buard of DiTeLtoi¥ uf CAH Trustee Liinited on arp annual basis and takes Into Gonsideration national pay percentage increases. The Community of All Hallows Trustee Board's annual report {¢oniinue Year ended 31 March 2023 Structure, governancè and managem?nt Icontinuedl Relat•d parties The Cornmunily transacted In the year with the lollowng connected enlities.. Stuart Jones, a director of CAH Trustee Limited, Is a Legal Director at 8irketts LLP. Birketts LLP act as the Community's soliators. C8non Andy Bryant a director and Chair of CAH Trustee Limiled. is a Trustee on The Julian of Norwich Partnership. The Community lease a property and provide fundin9 to The Julian of Notwi¢h Partnership. Risk management The Board have a risk managemenl strategy which comprises of. a review of the pnncipal risk5 and uncertainties that the charlty faces., the establishment of policies, systems and procedures to rnitigale those risks identified in the annual review.. the Implern8ntation of procedures designed to minirnise or manage any potential irnpact on Ihe charity should those risks rnaterialise. The review has identified the key Nsks and ¢onsi¢Jered the actions required lo mitigate those risks. The principal risk for the charrty would be a significant downturn in dividend income from its Investment portfolio whether directly from Ihe war on Ukrainè, the move to an ESG investmenl policy. or from a recession. Such downtum would be Mitigated by the expected increases in rental income arising vnder the lèases tsf the formei hospital, day care centre and nuising horne. This could Impact upon the Community's ability to award grants lo outside bodi8s short term. A fvrthef risk would be the surrender of lease by any party Inhabiting the Diichingham site and the buildings reverling back lo Ihe cuslody of All Hallows. The Board recognises the need for communication with the 1ga80hdd8rg. Th8 Bcrdrd will kèèp thtrg Ljndor roview. Trustee Board's responsibilities statement The Trustee Boarij are responsible for preparing the Trustee Board'g report and the financial slalemen15 in accordallce with applicable law and United Kingdom Accounting Standards (Uniled Kingdom Generally Accepted Accounting Practice). The law applicable lo d)arilies In England and Wales and Scotland requires the Trustee Board lo prepare financial slalements for each finanaal year whi¢h give a twe and lair view of the state ol affairs of the charity and of the Incoming resources and application of resource5. 01 the charity for that period. In preparitvj these financial slalemenls, the Truslee Bo8rd are required to. selèct Suitab￿ accounting policies and then apply thèm consistently. observe the methods and principles In the Charities SORP 2019 IFRS1021', make judgements and estimates that are reasonable and prudent, slate whelher applicable accounting standards have been followed. subject to any matenal departures d15closed and explaine(I In ihe financial siaiemenis. prepare the financial st*om@nls on thè 90ing concem basis unlèss +1 is inapprtspriale to prèsum• that the chanly will continue in operation. The Community of All Hallows Trustee Board's annual report {contrnued) Year ended 31 March 2023 Structure, govem*nce and manag¢m¢nt l¢ontinu¢dl Trustee Board's respon$ibllllle8 $tstement l¢ontlnuedl The Trustee Board are responsible foi keeping proper accounting records that disclose with reasonable accuracy at any time the financial position ol the charity and enable Il to ensure that Ihe financial stiilerrieiils conply with the Chanlies Act 2011. the Charity (Accounts and Reports) Regulations 2008, the Charities and Trustee Inve5trnent (Scotlandl Aci 200£. the Charitses A¢Gounl5 Iscotlandl Regulations 2Q06 las am8ndedl and the provisions of the Trust Deed. They are a150 respon51ble lor safeguarding the assets ol the charity and hence foi laking reasonable sleps lor the prevention and delection of fraud aThJ other irregLdarilies. True and fair O￿Tride The financial statemènts have been prepared to give a 'true and lairf wew and have departed from the Charilies (Accounts and Reports) Regulations 2008 only to the extent required lo provide a 'lrue and fair view,. This departure has Involveil following the Accounting and Reporting by Charities stsiement ol Recommended Practice applicable to charities preparing their accounts in accordance with Ihe Financial Reportir)g Stane to wideT economic conditions. th• attitud@ of invoglors to Investrnent risk. #nd ehangps in sentinenl ¢oncerning equities and within particular seclors of Sub sectors. Property Investments Investrnent properties are include¢J in the balance sheet at the directors of CAH Tfuslee Limited bèst estimate of Dpen market value and updated by at thè balance sheet date. It is the policy of the Trustee Boarij to have an extemal valuation of Ihe properties every 5 years. Soclal Investments- propertles Properties rented to further the charilable objects of the tharity are Initl8lly recognised al transitional cosl or their net book value at date of transfer. Any impairmenl losses are Immediately recognised in the Statement of Financial Activities. Flnanclol Instruments A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrumenl. Basic finanaal instruments 8re initially recognised at the amount re￿1vable or payable Including any related transaction costs. Current assels and current liabilities 8re subsequently measured al the cash or other consideration expected to be paid or received and not discounted. Defined ¢ontribution plans Ctsninbulion$ lo defined contribvlion plsns are recognised as an expens* in the pÈrKJd in whith the related service is provided. Prepaid contributions are recognised as an asset tts ihe e￿ent that the prepaymenl will lead lo a reduction in future payments or a cash Tefund. Grants payable Grant¥ are Issued in accordance with the requirement? end obiecbves of the Charity. A 9rant Is recognised as a liabilrty when the criteria lor a conslructive obligation is met. the grant has been commtjnicaled to a third party. It can be measured reliably and the￿ are no conditsons attaching lo its payment that Iimil 51s rec(>gnition. 19 The Community of All Hallows Notes to the financial ststements l¢onbnue Year ended 31 March 2023 Donations and légacies Unrèstricied Total Funds Funds 2023 unrestr￿led Total Funds Funds 2022 Donatlon$ Donations Sisters pensions 7.401 57,034 7.401 57,034 10,854 54,076 10,864 54,076 LegacSès Leg8¢1es 83.967 83.￿7 98.589 98.589 Grants Olher 1,366 1.366 148.402 148.402 164,895 164,895 Investment income Unreslricled Totsl Funds Unrestricted Total Funds Funds 2023 Funds 2022 Bank Interest Rental Incorne Dividends and interesl trom Investment portfolio 7,892 281.764 7.892 281,764 26 223,336 26 223,336 218,799 218,799 258.290 258,290 508.455 508.455 481.652 481,652 Other Incomè Unreslricled Totsl Fund¥ Unrestricted Total Funds Funds 2023 Fund5 2022 Dilapidations income Other Incorne 1 $9,664 251 159,664 251 159.915 159,915 Expenditure on ¢h4rrtsble a¢tiviti¢s Unreslric¢ed Total Fundg Unrestricted Total Funds Funds 2023 Funds 2022 Salaries Property costs Calering PlOViSbons Sister care home costs Sister living costs LEgal and prufE551TJnal Office costs Other cos15 Donations Depreciation Grants Inole 81 L055 on disposal ol tsngible fjxed assets Bank char9CS Staff training and expenses Governance costs 47.926 115,966 9.775 118.034 18.254 43.156 6.457 1.437 7.551 15.917 55,400 47,925 115,966 9,775 118034 18,254 43,156 6,457 1,437 7,551 15,917 55,400 27.773 375.941 10,035 110,353 9,471 33,327 3,734 4,113 4,647 14.990 674,000 586 27.773 375,941 10.035 110.353 9.471 33.327 3.734 4.113 4.647 14.990 674.000 586 40 408 2.999 11.061 408 2,999 11,061 8,175 8.175 454,340 454,340 1,277,185 1,277,185 20 The Community of All Hallows Notes to the financial statements (conilnuedj Year ended 31 March 2023 Expenditure on charitabl• activities Icontinuedj Anal￿1$ of Governance costs 2023 2022 Audit fee 11.061 8,175 Tolal 11,Q61 8,175 Granl making activilies Grants to In5titution5 Grants to Individuals Totsl 2023 Discovenng Prayer The Norwich S8m8ritsns The Institute lor Children Youlh alld Mission Bungay Medical cent￿ Charitable TrusVScDtt Charity 5,000 25 000 5.400 20,000 5,000 25,000 5,400 20,000 55,400 55,400 2022 Emmaus Norfolk & Waveney- Property renovations The Julian of Norwich Partnership - Staff and overhead cost5 Comrnunity of Sisters of the Church - Beneficiary support 500.000 500,000 150.000 150,OC#) 24,000 24,000 674.000 674,000 See èxplanation of the purposes of the grants awarded during Ihe year in the Trustee Board'5 annual Tepon. Net Ilossesllgains on investments Unrestricted Total Funds Unrestricted Total Funds Funds 2023 Funds 2022 Gains/llosses} on listed inveslments 1438.6921 1438,6921 552.283 552,283 10. N•t •xp•ndbturn Net expenditure is staled after chargingllcredilingl 2023 2022 Depreciation of tangible fixed assels 15.917 14,990 21 The Community of All Hallows Notes to the financial statements (conlinugdl Year ended 31 March 2023 11. Stsff costs The total stsff costs and employee benefits for the reporting period are anatysed as follows. 2023 2022 Wages and Salaries Employer contributions to pension plans 43.470 4.455 27.101 672 47.925 27,773 The charity consider5 that the key rnanagemenl personnèl comprisè the senior management team aiid ih¥ dlrectors of CAH Trustee Limited. The total empltsyee benefits of the key management personnel of the ¢h8rrty were £29.355 12022 £23.266) comprising of one12022 one) Indiv￿Ua1. The average head count of employees durlng the year was 312022. 21. No employee received employee beneffits of more ¢h#n £80.000 dur4ng tho yÈar12022.. Nsll. 12. Trustee remuneration and expenses Tli¥ living and personal expenses of the $1slers of the Community who are members of the Trustee Board were bome by the Community but the Sisters received no remuneration for expenses in conneciion with their duties as board member5 12022." £NIll. No remuneration or expenses were received by the remaining members of the Trustee Board. 13. Tangible fixed assets Freehold and Lèasehold Fixtures propeny a￿d fitvngs Motor vehicles Equipmènt Totsi Cost At 1 April 2022 and 31 March 2023 946.532 8,754 6,000 23.060 984.346 DepTeciati¢n Al 1 April 2022 Charge for the year At 31 March 2023 26.970 13.485 1,300 875 1,250 1.188 22,491 369 52.011 15.917 40.455 2,175 2,438 22.860 87.928 Carying amount At 31 March 2023 9[￿,077 6,579 3,562 200 916.418 At 31 March 2022 919.562 7,454 4,750 569 932,335 Included in Freehold propety is £272.305 of land %thi¢h is not depreciated. 22 The Community of All Hallows Notes to the financial statements IcontinL*d) Year ended 31 March 2023 14. Investments Cash or cash equivalents Listed Investment propertie¥ investment5 Tot•1 Cost or valuation Al 1 Apnl 2022 AdLlIlioDs Disposals Fair value Movements Other movements 128.115 8.618,439 151,550 1577,6531 1436,6921 7,990.715 16,737,269 601,550 1577,6531 1438.6921 141.8131 141,8131 At 31 March 2U23 86,302 7.753,fi44 7.9YU,715 15,IIJU,b61 knpalmient At 1 April 2022 and 31 March 2023 Carrying amount At 31 March 2023 86.302 7.753.644 7,990,715 15.830.661 At 31 March 2022 128.115 8,618.439 7,990,715 18,737.269 Historic81 cost of inve51rnent portfolio wa5 £6.956,88712022' £7,274,627). Investment ¥8$ets- Property 2023 2022 Value broughl forward at 1 Apnl Value camed forward at 31 March 6,434.000 6.434.000 8,434,000 6,434,C4JO Social inv•stm•nts- Prop•rty 2023 2022 Value brou9hl foNrfard al 1 April Value carried forward at 31 March 1.556,715 1,556.715 1.556,715 1.556.715 The histonc cost of Investment properties is £5.081.072. Investment propertles Property Investments are induded in thè balance shèet at the TruS￿e Board's best estimate of open ma¥kEt valuv, Ali upddlETJ Exlviii(Il i¥vulvotlVll pluvi￿E￿ by Savills In Seplembei 2021. 11 is the policy ol the Trustee Board to have an external valuation ol the properties every 5 yèars. 23 The Community of All Hallows Notes to the financial statements Iconllnued) Year ended 31 March 2023 Finoneial assèts held at fair value All investments are carried al their fair value. Invesiment In equities and fixed Inte￿st securities are all traded In quoted public markds, primarily the London Stock Exchange. Holdings in common Invesitnent fund3, unil trv5tS Olltj uyEii-Eiided li1ves￿lIeNt Gompanies ale al the bid PflGe. The basis of fair value for quoted Invc5tments in equivalent lo the market value. using the bid price. Ass8t sales and purchases are Tecognised al the date DI trade at cost (that Is their transaction value). The significance ol finanu81 Inslrumenls to the ongoing financial suslainability of the charity is considered in the financial review and inveslrnent policy and perfomiance sections of the Tnjstee Board Bvdids, aiiiiual TVPQrt. The main nsk to the chanly from financial Instrurnents lies In ihe combinabon of uncertain Investrnenl markets and volatilily In yield. The charity manages these Investment risks by ￿aIning expert advisors and t)peraling an investrnent policy that provides for high degfee of dive15rficalion of holdings within investment asset classes that are qvotgd on reco9nigod stock exchanges. The charity does not mako uso of dèrivatives and sirnilar complex financial inslrumenl$ 8$ It takes the view that investments are held loi their longer terrn yield and historic studies of quoted financial instruments have shown that volatilily in any pa￿CUlar five year period will nornially be corrected. IS. Dèbto 2023 2022 Trade debtors Prepayments and accrued Irume Oiher debtois 9.360 152.529 3.122 3,786 85,534 165,011 89.320 16. Credltoi8: Amounts falllng due wlthln one year 2023 2022 Trade creditors AccnJals and deferred In¢ome Social security and other taxes Other uedrtors 11.376 603.186 735 371 34.578 581.435 292 130 61 5.668 616.435 17. Cr•dltors.' Amounts lalling du• 4fter more th•n onè yèar 2023 2022 Accruals for granls payable 58.000 24 The Community of All Hallows Notes to th• financial statements l¢oniitsu•d) Year ended 31 March 2023 18. Deferred Income 2023 2022 Af 1 April 2022 Amount released to Income Amount deferred In year At 31 Mar¢h 2023 15.86g 115.8601 15.0 113.8461 15.860 15.000 15.860 Deferred Income includes rental income received in advance of the period to which il rèlates. 19. Pension$ and other posi retlrement beneflts Defined ¢ontrtbution plans The amount recognised in income or expenditure 8$ an expense in ￿latiOn to defined contribution plavs was £855 {2022. £6721. 20. Anolysis of eharitable funds Unrestrlcted lund$ Al 1 Apnl 2022 Gains and At losses 31 March 2023 Income XFendTrture General funds Revaluation reserve Designated lunds Medical Grants Fund 12,101.574 3.274.000 816,772 1446,055} 1438,6921 12.033,599 3.274.000 85.533 120,0001 1466.0551 65.533 15,461,107 816,772 1438,6921 15,373,132 At 1 April 2021 Gains and At losses 31 March 2022 Income Expendiluie Transfers General funds Revaluation reserve Designated lunds Medical Grants Fund 12.258.211 3.274.CMJO 8.959 563.014 11.278.893) 8.959 552.283 12.103.574 3.274.000 18,9591 83.533 83,533 15.541.170 646,547 11,278,8931 552.283 1S.461,107 Designated funds relate to Ptoperty income which the Trustee Board has put a51de lo use lo fvnd grant making acb'vities. The Medic81 Grenl Fund relates to a le9acy rcccivcd for An Hallows Heallhcare Trust which was dissolved with the remaining funds being paid over 10 CAH Trustee Limited as a donation. 25 The Community of All Hallows Notes to the financial statements Icononutd) Year ended 31 March 2023 20. Anafysis of charitable fund¥ {¢oniinuedl Endowment funds Al 1 April 2022 Gains and At losses 31 March 2023 Income Expendilure Convent Freèhold All Hallow5 Hospital Freehol(J Revaluation reserve on Hospital 336.265 336.265 50.000 50,000 1.500,000 1,500.000 1.886.265 1,886,285 At 1 April 2021 Gains and Al losses 31 March 2022 Income Expenditure Convent Freehc>ld All Hallows Hospital rreehold Revaluation ieserve on Hospital 336.265 336.265 50.000 50,ts00 1.500.000 1.5(X).Doo 1,006.265 1,880,205 21. Analy$i$ of nel assets between funds Unreslricted Endowmeni Total Funds Funds Funds 2023 Tangible fixed 8s$e Investments Curfgnl SlSBais Creditor5 les5 than 1 year Creditors greater than 1 year Not as$et$ 916.418 73,944,396 1.1?7,086 1615,6681 916.418 1.886.265 1 5.830.661 1.127,986 1615,6681 15.373.132 1.886,265 17.259,397 Unrestricted Endowrrkenl Total Funds Funds Funds 2022 Tangible fixed assets Investments Curr&nt assets Ciedilors less than 1 year Creditors greater th8n ? ye8r Not a$$gts 932,335 14.851,CM)4 352.203 1618.4351 156.0001 932,335 1,886.265 16,737.269 352.203 1618.4351 lJ8.0001 15,461.107 1.886.265 17,347,372 26 The Community of All Hallows Notes to the financial statements (contrn4Md) Year ended 31 March 2023 22. Analysis of changes in net debt At At 1 Apnl 2022 Cash flows 31 March 2023 Cash at bank and In h8nd 262.883 700.092 962.975 23. Operating lease commitments A$ le$¥or The total future minimum lease payments receivable under non.cancellable operating leases are as lollows.. 2023 2022 Not later Ihan 1 year Latèr than 1 year and not later than 5 years Later than 5 years 240.388 563.699 825,000 219.624 659,112 945,000 1,629,087 1,823,736 R•lat•d PArtI•g Revd Canon Andrew Bryant a dirèctor of CAH Trustee Limited is also a Irustee of The Julian ol Norwich Parlnership. The Community have agreed to lease a property to The Julian of Norwich PartF)ership for H8zelnut rent 12022 £NIll. Insurance for the property 15 recharged lo The Julian ol Norwich Partnership, during the year £3,153 12022 £5361 was recharged, £NIl balance was outstanding at thè year-end 12022." £5361, During the pnoi year the Chanty approved a three year grant to thè j￿lan of Nwich Partnership totalling £150.000. with the first instalrnent paid during the prior yeai. The second instalment of £50,000 was paid during the year and the one remaining year Is Induded in creditors at the year-end £50,00012022 £100,000). During the year a close family member of Beccy Gosling la member of key managernenl per50nnell cornpleled building works for the Community. The tot31 invoiced during the ye81 w85 £5,530 12022 £NIll, there was no balance outstanding at Ihe ye8r-end12022 £NIll. 25. Contingent asset In August 2022 The Christian Conference Tnjst gave CAH Trustee Ltd one-years notice to teminate the lease ol the conference cenlre. In December 2022 CAH Trustee Ltd issued The Chnstian Conference Trust with 8 claim for dilapidations in the region of £280,000. There is uncertainty over the recovery of this claim therefore no accrual has been indu¢Jed within the financial slalemenls.