O.F.M. (Capuchin) GB Charitable Trust Annual Report and Accounts 31 December 2023 Charity No: 231143
| Whoweare | 3 |
|---|---|
| Ourwayoflife | 4 |
| Vocations | 4 |
| Formation | 5 |
| Developmentoffriars | 7 |
| Leadership | 8 |
| Ourachievements in2023 | 9 |
| Pastoral | 9 |
| Domestic | 10 |
| International | 16 |
| Educational | 17 |
| OurChallengesandAddressingActions | |
|---|---|
| Lackofvocations/agingpopulation&the impact on ministries | 19 |
| Circumscription structure | 19 |
| Public Benefit | 19 |
| OurPolicies | 20 |
| Governance | 2 1 |
| Statementoftrustees' responsibilities | 21 |
| Structureandmanagement reporting | 22 |
| Key management personnel | 22 |
| Riskmanagement | 22 |
| OurFuture | |
|---|---|
| Delegation Plan | 24 |
| FinancialReporting | |
| Incomeandexpenditure | 25 |
| Financial report for theyear | 27 |
| Independent auditor's report | 30 |
| Statementoffinancial activities | 34 |
| Trustees | BrJamesBonerOFMCap | |
|---|---|---|
| The trusteesareincorporated | BrKrzysztofPrzybylskiOFMCap | |
| under the Charities Act2011 | BrMartin MikuskiewiczOFMCap | |
| BrJohn CavanaghOFMCap | ||
| BrPaulColemanOFMCap | ||
| ProvincialDelegateandBursar | BrJamesBonerOFMCap | |
| Provincialoffice | Provincial Curia | |
| Franciscan Friary | ||
| Carlton Road | ||
| Erith | ||
| Kent | ||
| DA8lDN | ||
| CharityNumber | 231143 | |
| Auditor | BuzzacottLLP | |
| 130WoodStreet | ||
| London | ||
| EC2V 6DL | ||
| Bankers | NatWestBank pie | NatWestBank pie |
| OxfordCentral(B) | 1 st Floor | |
| 43Cornhill | 440Strand | |
| Oxford | London | |
| OXl3HA | WC2R0QS | |
| PrincipalInvestmentManagers | Waverton Investment Management Limited | |
| 1 6 Babmaes Street | ||
| London | ||
| SWlY6AH | ||
| Solicitors | LaytonsLLP | Clyde &Co(formerlyBLMLLP) |
| Yarnwick | StBotolph Building | |
| 119-121 Cannon Street | 138Houndsditch | |
| London | London | |
| EC4N 5AT | EC3A 7AR |
Our way oflife 11 11.1
Our way oflife T•
Our way oflife èhes li Tyt 11 41 11111 Durham 13
30 October 2024
| Noles | Unrestricted Restricted Unrestricted Restricted funds funds funds funds 2023 2022 £ £ £ £ £ £ |
|---|---|
| Incomefrom: Donations and legacies Investments 2 Charitable activities 3 Other trading activities 4 Surplus on disposal of freehold land and buildings Miscellaneous 5 Totalincome Expenditureon: Raising funds 6 Charitable activities 7 Totalexpenditure Netincome (expenditure)before investmentgains (losses) Net gains (losses) on the revaluationof investment properties Netgains(losses)on the revaluation and disposalof~sled investments Netincome (expenditure) Transfers between 18 funds Netmovementin 10 funds Reconciliationof funds Total funds brought forward at 1 January 2023 Total funds carried forwardal31 December 2023 |
311,622 430,805 742,427 389,229 370,045 759,274 243,596 123 243,719 198,797 123 198,920 1,287 66,384 67,671 43,002 43,002 1,173 17,422 18,595 1,714 1,714 99,408 99,408 22,519 6,552 29,071 5,689 16,994 22,683 |
| 580,197 521,286 1,101,483 694,837 430,164 1,125,001 |
|
| 45,656 45,656 57,746 57,746 9TT,804 346,530 1,324,334 1,052,368 359,669 1,412,037 |
|
| 1,023,460 346,530 1,369,990 1,110,114 359,669 1,469,783 |
|
| (443,263) 174,756 (268,507) (415,277) 70,495 (344,782) 1,064,424 49,961 1,114,385 (888,655) (40,806) (929,461) |
|
| 621,161 224,717 845,878 (1,303,932) 29,689 (1,274,243) 85,826 (85,826) 90,303 (90,303) |
|
706,987 138,891 845,878 {1,213,629) (60,614) (1,274,243) 15,195,408 1,016,717 16,212,125 16,409,037 1,077,331 17,486,368 |
|
| 15,902,395 1,155,608 17,058,003 15,195,408 1,016,717 16,212,125 |
| Notes | 2023 £ |
2022 £ 4,805,523 10,333,145 15138668 |
||
|---|---|---|---|---|
| Fixed assets Tangible assets Investments Currentassets Debtors Cash at bank andinhand Currentliabilities Creditors: amounts falling due within one year Netcurrentassets Totalnetassets Thefundsofthecharity: Restricted funds Unrestricted funds . General funds . Tangible fixed assets fund . Designated funds 13 14 15 16 18 19 20 |
4,734,797 1114181502 |
|||
| 16,153,299 | ||||
| 443,699 6091892 |
570,979 667 981 1,238,960 165,503 1,073,457 16,212,125 |
|||
| 1,053,591 148,887 |
||||
| 904,704 | ||||
| 17,058,003 | ||||
| 1,155,608 3,395,768 4,712,387 7,794,240 17,058,003 |
1,016,717 2,584,501 4,774,215 7,836,692 16,212,125 |
|||
| Cashflowsfromoperating activities: Net cash providedby(used in) operating activities Cashflowsfrominvestingactivities Investment income and interest received Purchaseoftangible fixed assets Proceeds from thedisposaloffixed assets Proceeds from the disposalofinvestments Purchaseofinvestments Foreign exchange gains Netcashprovidedbyinvestingactivities Changeincash andcash equivalentsinthe year Cashandcash equivalentsat1 January 2023 Cashandcashequivalentsat31December 2023 Notes A B B |
2023 £ (329,358) 244,863 (1,479) 782,374 (1,024,371) 1,387 (327,971) 1,215,593 887,622 |
2022 £ |
|---|---|---|
| (663,156) 198,920 (14,858) 100,000 2,395,200 (2,381,743) (11,250) |
||
| 286,269 | ||
| (376,887) 1,592,480 |
||
| 1,215,593 |
| Netincomefortheyear(asperthestatementoffinancialactivities) Adjustmentsfor: Depreciation charge Impairmentoftangible fixed assets Loss on the disposaloffreehold land and bulklings Net gains ontherevaluation and disposaloflisted investments Net gains on the revaluationofinvestment properties Investment income and interest receivable Foreign exchange gains (Increase )/Decreaseindebtors lncrease/(Oecrease) in current creditors Decrease in long term creditors Netcashprovidedby(usedin)operatingactivities |
2023 £ 845,878 71,213 991 (1,114,385) (243,719) 127,280 (16,616) (329,358) |
2022 £ (1,274,243) 90,516 400,592 929,461 (198,920) 11,250 (S61,STT) 10,251 (70,486) (663,156) |
|---|---|---|
| Cash_at_bank and in hand Cash held by investment managers Total cashandcashequivalents 2023 £ 609,892 2TT,730 887,622 |
2022 £ |
|---|---|
| 667,981 547,612 |
|
| 1,215,593 |
| Donatons Appeals Other donations Pensionsandsalariesofi~ al celigiousr~ widerdeedof covenant orGmAid Pas:oraloffemgsandrepos;:oryincome FirstCollection &!ooodCollear.on Other dferirQsand,epositoryinoon-~ leg.Des |
Unrestricted Restricted Total lklrestrictedRestricted funds funds funds funds funds 2023 £ £ £ £ £ Toia1 funds 2022 £ ---- --- ---- 8.020 8.020 38,054 38.054 57,844 132.318 190.162 55.112 67,977 t23,08Q 83.285 - 83.285 98.442 98.442 2A0,$972A0.$97 - 133.514 133,514 (804) {804) 62.091 49.870 111.961 69.363 130,304 199,667 108,402 - 108.402 166,312 1.000 \67.312 311.622 43U05742..427 389.229 370,045 759,274 |
Unrestricted Restricted Total lklrestrictedRestricted funds funds funds funds funds 2023 £ £ £ £ £ Toia1 funds 2022 £ ---- --- ---- 8.020 8.020 38,054 38.054 57,844 132.318 190.162 55.112 67,977 t23,08Q 83.285 - 83.285 98.442 98.442 2A0,$972A0.$97 - 133.514 133,514 (804) {804) 62.091 49.870 111.961 69.363 130,304 199,667 108,402 - 108.402 166,312 1.000 \67.312 311.622 43U05742..427 389.229 370,045 759,274 |
|---|---|---|
| 311.622 | 43U05742..427 |
| looomefromEs1e:t ai•l€51rr.ents looomefromai..-esuneral property IncomefromrrixEdmotive ll'l'te.51menis Interestreceivableoncash managedb'fil'l'V6'tm:nt manal)el'S |
Unrestricted funds £ 188.086 53,200 2,310 |
Restricted foods £ 123 |
Total funds 2023 £ 188,0SG 53.200 2..433 |
Unresmi:ted funds £ 134,635 59.72'1 4,441 |
Resmcted funds £ 123 |
TOlal funds 2022 £ |
|---|---|---|---|---|---|---|
| 134.635 59,721 4,564 |
||||||
| 2A3.596 | 123 | 2A3.719 | 198.797 | 123 | 198.920 |
| 3 Incomefrom charit |
able activiti | es | ||||
|---|---|---|---|---|---|---|
| Parishhaandroomhire | Unrestricted funds £ 1,287 1.287 |
Restricted funds £ 66.384 66.384 |
Total funds 2023 £ 67.671 67.671 |
Unrestricted hlids £ |
Restricted fr..r.ds £ 43.002 43,002 |
Total fl#lds 2-022 £ |
| 43.002 | ||||||
| 43.002 |
| 5 Income fromother |
sources | |||||
|---|---|---|---|---|---|---|
| Insurancedaim Refunds and miscellaneous income Forex Oosses)/gains |
Unrestricted funds £ 42 22,4TT 2.2,519 |
Restricted funds £ 500 6,052 6,552 |
Total funds 2023 £ 542 28,529 29,071 |
Unrestricted funds £ 16,939 {11,250) 5,689 |
Restricted funds £ 8,850 8,144 16,994 |
Total funds 2022 £ |
| 8,850 25,083 {11,250) |
||||||
| 22,683 |
| 6 Expenditure on rai |
singfunds | |||||
|---|---|---|---|---|---|---|
| Investment management costs Investment property costs |
Unrestricted funds £ 45,656 45,656 |
Restricted funds £ |
Total funds 2023 £ 45,656 45,656 |
Unrestricted funds £ 53,930 3816 57z746 |
Restric1ed funds £ |
Total funds 2022 £ |
| 53,930 3,816 57746 |
| Unrestricted Restricted funds funds £ £ SupportofmembersoftheOrderandtheirministry Staffcosts 82,203 Premises costs 169,835 Food costs 74,898 Livingand personal expenses of 242,473 friars Formation, education and 85,583 vocation Shrine and projects Depreciation & impairment 63,743 Office expenses 40,761 Othercosls 13,414 TT2,910 Parishesandparochialactivities Staffcosts 20,144 Premises costs 81,861 Parish expenses 67,566 Han expenses 71,515 Depreciation 7,470 Administration 14,223 Other costs 241697 287,476 Donations (note8) 131,193 59,054 Governancecosts(note9) 73,701 2023totalfunds 977,804 346,5.30 |
Totalfunds 2023 £ 82,203 169,835 74,898 242,473 85,583 63,743 40,761 13,414 TT2,910 20,144 81,861 67,566 71,515 7,470 14,2.23 241697 287,476 190,247 73,701 11324,334 |
Unrestric1ed funds £ 91,841 204,937 65,215 2TT,TT9 66,630 76,420 68,566 2842 854,230 101,614 96,524 110521368 |
Restricted funds £ 1,547 1 547 42,447 96,278 82,867 19,825 14,027 37,548 9,563 302,555 55,567 359,669 |
Total funds 2022 £ |
|---|---|---|---|---|
| 91,841 204,937 65,215 2TT,TT9 66,630 1,547 76,420 68,566 2842 |
||||
| ~~s55m~~ | ||||
| 42,447 96,278 82,867 19,825 14,027 37,548 9,563 |
||||
| 302,555 | ||||
| 157,181 96,524 |
||||
| 1.412,037 |
| Unrestricted funds £ Contributionstothe Archdiocese/Diocese_ot_ . Birmingham . Southwark .Yortc Boni Pastors Capuchin Soupkit DelegationofGB Team8Legion UniversityofDurham - Postal Doctoral Thesis Veronica Gui~ani Fund Warsaw Missions Warsaw Province - Renovation ofthe ProvincialC-uria OFM Capuchin Goa 1,500 Capuchin CustodyofUkraine 515 Capuchin Tertiary Sisters, Sri 3,015 Lanka Franciscan Sisters 1,415 Golgota, Poland 2,315 International Fraternal 3,015 Collaboration ProvinceofSt Ftde!is India Pavanatma Formation 6,015 San Tome Ukraine Formation 980 UniversityofDurham - Capuchin 65,061 Franciscan Scholarship Vice Province (Lebanon) 21,865 Church Mission Society 3,217 otherdonationspayableto 12,095 institutions including secortd collections 121,008 Donationstoirtdividuals 102185 131~~1~~193 |
Restricted funds £ 7,929 21,602 4,840 800 2,000 15,8Ba 53,059 51995 591054 |
Totalfunds 2023 £ 7,929 21,602 4,840 1,500 515 3,015 2,215 2,315 3,015 6,015 2,000 980 65,061 21,865 3,217 27,983 174,067 161180 190~47 |
Unrestricted funds £ 20,000 8,015 25,015 5,000 1,354 19,330 1,515 10,015 4,015 1,015 4,015 615 1,710 101,614 1011614 |
Restricted funds £ 7,848 28,780 2,015 2,888 1,212 2,015 1,200 9,609 55,567 551567 |
Total funds 2022 £ |
|---|---|---|---|---|---|
| 7,848 28,780 20,000 8,015 25,015 2,015 2,888 5,000 2,566 19,330 1,515 10,015 6,030 1,015 4,015 1,200 615 11,319 |
|||||
| 157,181 | |||||
| 157.181 |
| Consultancy fees otherprofessional fees |
Unrestricted funds £ 36,945 36i156 73z701 |
Restricted funds £ |
Total funds 2023 £ 36,945 36l56 73,701 |
Unrestricted funds £ 44,212 52,312 96,524 |
Restricted funds £ |
Total funds 2022 £ |
|---|---|---|---|---|---|---|
| 44,212 52,312 |
||||||
| 96,524 |
| 10 Net(expenditure) income | |
|---|---|
| 2023 £ This is stated after charging: Staffcosts (note11) 102,347 Auditor's remunerationOncluding VAT) . Statutory auditservices 20,900 . Non-audit services 6,768 Gain on disposaloffixed assets (note13) Depreciation (note 13) 71,213 |
2022 £ |
| 112,915 24,198 4,812 99,408 90,516 |
| Wages and salaries Social security costs Pension costs |
2023 2022 £ £ ---- 77,381 15,718 9,248 102,347 106,260 1,674 4981 112,915 |
|---|---|
| Parishes Support |
Number 3 5 8 |
Number 3 5 |
|---|---|---|
| 8 |
| Fraehold land and buildings Non Motor specialised vehicles. ft..mitvre& equipment £ £ 25,000 785,462 1,479 25,000 786,941 |
Fraehold land and buildings Non Motor specialised vehicles. ft..mitvre& equipment £ £ 25,000 785,462 1,479 25,000 786,941 |
Total £ |
|||
|---|---|---|---|---|---|
| Specieised £ 5,827.686 5,827,686 |
|||||
| Costorvaluation Al1 Jenussy 2023 Additions Disposals /~airmen! Al31 Deoember 2023 Cost Valuation- 2001 Disposal Oepreci.ation Al1 Janua,y 2023 Olargeforyear Disposals Al31 Deoember2023 Net boofl valves Al31 Deoember2023 Al31 Deoember2022 |
6,638,147 1,479 6,639,627 2.748,:2g4 3.891,333 |
||||
| 1,961.353 3,866,333 5,827.686 1,101.028 58ZT7 1.159.305 4,668.381 4,726.668 |
25,000 25,000 25,000 25,000 |
786,941 786,941 731.598 12.936 991 745,525 41,416 53,864 |
|||
| 6,639.627 | |||||
| 1.832,626 71.213 991 |
|||||
| 1Jl04.830 | |||||
| 4.734.797 4.805,523 |
| 14Investments Listedinvestmentsandcash heldforre-investment(notea) InvestmentProperties a)Listed investments and cash heldforreinvestment Listedinvestments Marketvalueat1January2023 Additionsatcost Disposalproceeds Realisedlosses Disposalsatopeningbookvalue Netunrealisedoosses)lgains Marketvalueat 31December2023 Cash heldbyinvestment manager forre-investment CostoflistedInvestmentsat 31December2023 |
2023 £ 8,523,502 2,895,000 11z418,502 2023 £ 6,890,533 1,024,371 (782,374) (167,585) (949,959) 1,280,827 8,245,772 277,730 8,523,502 6,512,013 |
2022 £ |
|---|---|---|
| 7,438,145 2,895,000 |
||
| 10,3n14s 2022 £ |
||
| 7,832,241 2,381,743 (2,393,990) (21,551) (2,415,541) (907,910) |
||
| 6,890,533 547,612 |
||
| 7438 145 6,330,876 |
| Bonds Commoninvestmentfunds UKequities overseas equities Alternativeinvestments |
2023 £ 1,319,273 471,419 564,296 5,426,072 464,712 8.245.772 |
2022 £ |
|---|---|---|
| 1,024,100 443,225 4,916,923 506.285 |
||
| 6.890.533 |
| b)Investmentpr-operties | ||
|---|---|---|
| 2023 | 2022 | |
| £ | £ | |
| ---- | ||
| Investmentproperties | ||
| Market valueat1 Jsnua,y 2023 | 2,895,000 | 2.895,000 |
| Netl.WlTeaisedgains | ||
| Msri<et value a.t | 2,895,000 | 2.895.000 |
| 31December 2023 |
| 15Debtors | |
|---|---|
| 2023 £ Amounts fallingdueY-i'.hinone_year_ . TaxreooverableonGiftAid 10,728 donstions . Prepaymentsandaccrued 32,971 income 43,699 Amounts fallingdueafter_one_yesr . Proceeds from disposalof 400,000 freehold properlies (see belov,) Total debtors 443.699 |
2022 £ |
| 10,952 160,027 |
|
| 170,979 400,000 |
|
| 570,979 |
| Accrualsandother creditors Grantsanddonations payable |
2023 £ 54,438 94449 148,887 |
2022 £ |
|---|---|---|
| 95,017 70 486 |
||
| 165,503 |
| Donationspayable | 2023 £ |
2022 £ |
|---|---|---|
| At31December 2023 Parish funds CapuchinMissionsfund NationalShrineofSaint Pio fund Secular Franciscan Order fund Charity fund Mary Barrett Legacy fund Pious Union SAG Pantasaph - Statues Other funds |
At1 January 2023 £ 876,494 33,594 24,629 365 29,456 5,545 18,222 3,412 25,000 1,016,717 |
Income and investment gains £ 530,613 2,664 30,168 2,695 1,484 32623 571,247 |
Expenditure and transfers £ (418,958) (528) (2,565) (5,545) (1,389) (308) P1063l (432,356) |
At 31 December 2023 £ |
|---|---|---|---|---|
| 988,149 35,730 24,629 365 57,059 19,528 4,588 25,000 560 |
||||
| 1,155,608 |
| At31December 2022 P;;rishfunds Capuchinlvfis..<ionsfund l\lationalShrineofSaintPiofund Secular FranciscanOrderfund Chan1ylund Alfaty_Barrett_Legacyfund PiousUnion SAG Paniaeaph-Statues _Other_funds |
At1 January 2022 £ 933,799 27,394 26,176' 365 30,489 9,075 11,979 3,412 25,000 9642 1,~~on~~,331 |
Income and investment gains £ 372,983 6,651 2,278 6,243 1203 389,358 |
E:xpe,dilure and bansfers £ (430,288) (451) (1,547) (3,311) (3,530) c10~~1~~845l (449,972) |
At31 December 2022 £ |
|---|---|---|---|---|
| 876,494 33,594 24,629 365 29,456 5,545 18,222 3,412 25,000 |
||||
| 1,016,717 |
| 19Tangible fixed assetsfund | ||
|---|---|---|
| At1January2022 Netmovementin year At31December2022 |
2023 £ 4,774,215 (61,828) 4,712,387 |
2022 £ |
| 5,251,296 (477,081 ) |
||
| 4.774,215 |
| At 31December2023 Care_ol_elderlyandinfirm friars fund Donationsfund At31December 2022 Care_ofefdenyandinfirm friarsfund_ Donationsfund |
At1January 2023 £ 6,000,000 1,836,692 7,836,692 Al1 JanUaJY 2022 £ 6,000,()0() 1,937.002 7,937,002 |
New designations 6,965 6,965 New designaoons |
Utilisedor released £ (49,41!} (49.dir} Uiifisedor released £ (1oq 3101 (100,3101 |
At31 Deeembe_r 2023 £ |
|---|---|---|---|---|
| 6,000,000 1.794,240 7,794.240 At31 December 2022 £ 6,000,000 1,836,692 7,836,692 |
follows: |
||
|---|---|---|
| Unrealisedgainsincludedabove: On listed investments On investmentpt"Operties Totalunrealisedg;ainsat31 December 2023 Reconciliation ofmovementsinunrealisedGains Unrealisedgainsat1 January 2023 Less:inrespecttodisposalsintheyesr Add; netglWls(losses) arisingoorevah.rslionoflistedinves1menls Add: net glilfls arisingoo revaluslionoflf'IVesbnenlproperties Total unrealisedgains(losses)at31Oe-cember 2023 |
2023 £ 1,733,760 2,162,872 3,896,632 3,336,115 {720,312} 2.615.803 1,280,829 3,896,632 |
2022 £ |
| 1.173,243 2.162,872 |
||
| 3.336.115 | ||
| 4,306,578 !62,553} |
||
| 4.244.025 (Q07.910) |
||
| 3.336.115 |
| Amol.l'1tspayable \/\ffl'linoneyear Between twoand five yearsCinctusive) |
2023 £ 12,185 12,902 25087 |
2022 £ |
|---|---|---|
| 3,391 3,957 |
||
| 7348 |