CONGREGATION OF BROTHERS OF THE SACRED HEARTS OF JESUS AND MARY AND OF PERPETUAL ADORATION OF THE MOST BLESSED SACRAMENT OF THE ALTAR ANNUAL REPORT AND FINANCIAL STATEMENTS YEAR ENDED 31ST DECEMBER 2023 CHARITY NUMBER 232406 CONGREGATION OF BROTHERS OF THE SACRED HEARTS OF JESUS AND MARY AND OF PERPETUAL ADORATION OF THE MOST BLESSED SACRAMENT OF THE ALTAR YEAR ENDED 31ST DECEMBER 2023 CONTENTS R•f?rnnc? and Adrnlnl?tr•tl￿ D•tall• 4toS Tru8tg0• R•port Indepondont Examlnern Report ststement of Fin•n¢l•l A¢￿¥1￿•* Balanc• Sho•t 9t014 Not•• to th• Fln•n¢l•l Stst•m•nt• CONGREGATION OF BROTHERS OF THE SACRED HEARTS OF JESUS ANO MARY AND OF PERP￿uAL ADORATION OF THE MOST BLESSED SACRAMENT OF THE ALTAR REFERENCE AND ADMINISTRATIVE DETAILS YEAR ENOED 31ST OECEMBER 2023 CHARITY NO. 2324C CONSTITUTION Adopt￿ 20th Novomber 1982 and the New Conslrtutvjns were promulgated on 22nd May 1989. TRUSTEES The Rev. Chnstopher McAneny The Rev. Derek Laverty DELEGATION SUPERIOR IPr•vlously Provlnclal Superlorl Th& Rev. Mi¢h8el Ruddy, SS.CC. VICAR IPreviou¥ly Vlct Provln¢i•ll The Rev. Vlncant Fallon. SS.CC. ECONOME BURSAR The Rev. Chri8topher McAnony PRINCIPAL ADDRESS 372 Uxbridge Road Ealing London W5 3LH BANKERS Lloyds Bank PLC 3 Chandos Placo Blelthley Milton Keynes MK2 2SL SOLICITORS SBP Law Glade House 52-54 Carter Lane London EC4V 5EF INDEPENDENT EXAMINER Brown Warner LLP 38 Northgate New8rk-on-Trent NG24 IEZ Page 3 ¢ON(JIEGATION OF BROTHERS OF THE SACRED HEARTS OF JESUS AND I￿￿ty AND OF PERPETUAL ADORATK)N OF ThE MOST BLESSED SACRAJAENT OF THE ALTAR YEAR ENDe0 31ST DEGEIffjER 2023 The trustees annual reF4)rt aTrJ fin8nrJal for the yearerthd 31st De￿ik￿r >)23. The finanaal 5Iatw￿nts habe teen tyepawd in ac£cfdarts the accounb.ng poIits•s sai out in not8 1 to tho financial stat8monts and compty wth Ihe charrty'5 con51itulwJn. Ihg Chantss Ad 20113nd'Accounling and Reporting by Chantyes Stalemenl of Re(xffiTh*nded pract￿ in charii*s prepanng Iher accounts in accordance wth Ihe Finafiosl Reportin9 Standard aWKable In the UK and Repu￿￿ of IreLgTrd IFRS 1021, leftecti¥e 1 JaAuary 20191 OWECTS ANDACTIVITIES. ACfr#EVEMÉNTS. PERFORIIAIKE AND FUTURe Thg objects ofthe chaity are to folbxf ts CMsbtutK)ns aThJ Statukns of thè Cor¥Jre9abw 8$ and appro¥*d by Ths CorwJr•gabcffj lor ol CMseuaknJ Lrfè aTrJ Socaetss of*4tdt grven at Ron• on 9th day of Jyty 199) Th• truste￿ continutrj the1T￿rk ol adm￿0*7 th• tr￿t fvr*JJ durir*J y•w to enable the work ol the Rel#Jw)US ¢knr to continue. The truste￿ confirm Ihai they ha￿ referred 10 the gu￿anc¥ on public bertfit wh•n rev￿rg TnJsf$ aThl aTrJ in pl•r￿￿ futurn actNI￿. The CorgregaiN?n works rnairrtainirvj aThJ suFw￿r￿a mi5wns ar￿j fr(￿ rts E#lir¥J house *thich ' de8¥n8ted 88 a fomabon hous•, tr*Jks lo troin futur* pr￿sts and o used as a hous• of Support lor th8 wthr Cengregalion wh¢n It*y cem• to London frcffl Owr8eas Wrth th• Broth•rn Van0￿ panshe$ in 2022. 5abbalic81 twne w8$ tak•n dunry 2023 With one 8rothor ¢rffjffler￿ 010 sthool In Dec8mbgr •nd on• Brolh•r comrn•rw an gthnK dwincy lor fv D*>wo of IAosknw*t•r in 2024. Gazo. Tho Irustsos havg consK1&r•a IM charity Ferfomianvj arkl thgt it fvrth, itr•ngth lo enat4e thfr eharty lo carry oul Ihe ch8nty's Ill the fvture tw8t•￿ wll c4nlinwJ lo •ncour*g0 th c￿34￿0￿.8 urgiThJ Ihe knth•rs into ev•ry•kJ'NJ for whith Ihey enler Into Ihe In*nor oynamtsm ol Chnsfs Love lor hi$ Father and for the Wodd. ￿￿￿allY for th• poor. th• afflicted. the Mar91n*￿try aTrJ ¢ho¥e hav• not heard GWJ Ne￿ ol J•sus Chn•t. FINAN¢M REWEW Ineome con$i$le(l of $mal rnoular donations frm) Indry*JuaL4 lo Ihe Irusl lunds. mass sbpend$. P￿$￿￿8 in res￿ ol the 8rolhers who aro now of rets'f8m8nl age and ￿lary incoffffj ty rgc•i%*d for on• brother ¢omm•nc•d work at a ￿ in Dec•mb•r. Th• oN*MII inc•nw lecm•sthJ due lo from pari￿$. Expenditure Increaaed dunNJ tP* y•8r due lo repair maintsnance work lo chanty pr•n*es. Iowih•f 5atthtJcal fJ)Sts. The tharity donated to th• Sacrnd Heart C(mmuoty in IrelaTrd. CAFOD for Gaza and an indiv*Jual in ne•d. RM•rv•• Policy Th¢ tru$to•s earny an 4nnyo1 re¥w ol rts fv•• poly lth•t ts ih¢J5è fuTrJ$ nol up in fiyAd 835ets. de$vJnated or rest￿t￿l bjndsl In thelghl of rtsks ar*J fubjre F48￿. Th• trustees hs¥e establish8d a to havo a Minin￿ fr89 reser¥e of behveen 3 10 6 months of r*S￿r￿ oyrthd. which equates to £17,0(KJ lo £35,th) Thi5 wll enable the chanty 10 conts'nue to rrfftt ts ot*(*"ves rf Il la￿ loss of incx)rntr. inueases In costs or delay$ in receyts At the fTee reser¥es afe th￿ knol. Shoukl the charty tsce ss of infY>M tho tknr in Ireland woubJ support any shortlam. Ri•k Mana9•m•nt The tyustsas h8ve 8yAmin¢d the m4orstrarffjK. busirw oThJ CPW8b(wl nsks whK* the cha¥rty fa￿ and ¢￿TIrM that systsrns estabthsh•d to the wnrfKanl rtsks. P•3e 4 CONGREGATION OF BROTHERS OF THE SACRED HEARTS OF JESUS AND MARY ANO OF PERPETUAL ADORATION OF THE MOST BLESSED SACRAMENT OF THE ALTAR TRUSTEES REPORT IContlnu•dl YEAR ENDED 31ST DECEMBER 2023 STRUCTURE, GOVERNANCE AND MANAGEMENT Governlng Documgnt The cOng￿98110n of Brothers ofthe Sacred Hearts ol Jesus and Mary and ol Perpetual Adorat￿n of Ihe Most Blessed Sacrament of the Attar Is a Roman Catholic Religious Order of Pnests and Lay Brothers carrying on cttaritable work in England The formal Charitab￿ trust deed establishing the chanty wa5 created on the 20th day tsf November 1962 The Congregation is an Apostolic Religious Congregation ol Pontifical right founded by Pierre Coudrin and Henriette Aymer de la Cheyalerie. Brothers and Sisters united in the Same chari8rn and the same mission, lomi a single congregation approved as such in 1817 by Pope Plus Vll. Rècrullmgnt and Appolntm•nt ol Tru8ts•8 A Provincial Council consisting ol the Provincial Superior and three oth8r brolhars nominate and appoint the trustèes of the charty. Organlsatlonal Structurn The Congregation all meet tog8th•r &very three years for a Chapter which decides the policies and prin¢lples lo be lollowed for the three years ahead A Provincial sUper￿T is appoinlad by the Chapter to ensura thè do¢ision8 of the Ch8Pter are camed out gntj the Provincial Superior will also d¥¢ide all ¢Jay lo day managem¥nl decisions for the three year period. STATEMENT OF TRUSTEES, RESPONS181LITIES The trustees are responsibltr for preparing the Trusl•8s' Rèport and the accounts in accordance with appllcabl law and United Kingdom A¢counting Standard (United Kingdom Generally Accepted Pra¢li¢el. The law applubl8 to ¢h8ntie8 in England & Walas rèq[Ji￿s the trustee5 to prepare a¢counts for each linoncial year which give a true and fair viw of the stste ol affairs ol the Charity 8nd ol the incoming resources and appli¢aiion of resources ol th• chanty for Ihe year. In preparing thasa ac¢ounts. the truste65 gr6 roquired to.. select suitabl& accounting policies and then appty Ihem con$i81enUy. observe the methods and pnnciples In thè Charities SORP, m8ke judgements and estirnales Ihat are reasonable and prudent.. 8t8te whether applicable UK Arxounting Standards have been followed subject lo any d&partures discbsed and explained in the accounts." and pr&p8r8 the accounts on tho going e¢nc•m basis unless It 1$ in8ppropriate to presum& that the charity will continu¢ In operation. The trustaes are responsible lor keeping sufficient accounting records whi¢h disclose with rèason8ble accuracy at any time the financial posits'on ol th8 chanty 8n(t lo enable them to ensure that the accounts comply with the Charib'es Act 2011 and the Charty (Accounts and Reports) Regul8tiOnS 2CM)8 and the provisions of the conslitubon. They are also responsible lor $aleguardin9 Ihe assets and hence for taking reasonable st¢p8 ltsr the preVen1￿n and detecty'on of fraud and breachès of law and offter irregularitiès. The trustees report was approv8d by the Board ol Trustees. •liS Th? Rev. Chrt8toph•r McAn•ny k,L,, q'/>, D•te 19th September 2024 P8gè 5 CONGREGATION OF BROTHERS OF THE SACRED H&4RTS OF JESUS AND MARY AND OF PERPETUAL ADORATION OF THE MOST BLESSED SACRAMENT OF THE ALTAR INDEPENDENT EXAMINERS REPORT YEAR ENOED 31ST DECEMBER 2023 Ind•pèndent Examiners, Report to the Trustees of Congregation of Brothers of the Sacred Hearts of Je¥u¥ and Mary and of Perpetual Adoration of the Most Blessed Sacrament of the Altar. I rep￿t to the trustees on my eKamination of the fin8n¢ial slalements of Congregation ol the Sacred Heart of Jesus and Mary and of Perpetual Adoration of the Most Blessed Sauament of the Allai (the charity) for the year ended 31 DeGember 2023. ReJp¢)n#ibiliti•s and basis af réport As the trustees of the charrty you are responsible foi the preparation of the financial statements in accordance wrth the requirements of the Charities Act 2011 Ithe 2011 Act). I report in respect of rny examination of the charity's financial slalemenls ¢arned out under section 145 of the 2011 Act. In carrwng out my examination I have followed all the applicable Directions give by the Charity Commission under section 14515llbl of the 2011 Act Independent examlneVs statement Your attention is drawn io the fact that the charty has prep8ied finanekgl statements in ac￿rdSn¢e with Accounting and Reporting by Charities preparing their accounts in a￿OrdanCe wrth the Finanaal Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 in prelerence lo the Accounting and Reporting by Charities.. Statement of Recommènded Pradite issued on 1 April 2005 which is referred to in the extent regulations but has now been wrthdrawn. l understand that this h8s been done in ordei for fin8ntyal $18lements lo prov¢de a true 8n6 fair view in accordance wth Generally Accepted Accounting Practi￿ for reporb'ng periods beginning on or after 1 January 2015. I have completed my examination. I confimi that nts rnatters have come to my attenb.on in connection th the examination giving me cause to believe that in any rnaterial respect. 111 accounting ￿CordS were not kept in respect of Ihe charity as required by se(*on 130 of the 2011 Act". or 121 the financial sla¢ements do no¢ accord wth those records,. or 131 the finanaal statements do not comply wth applicable requirements concèrning the form and content of accounts set out in the Charrties IA¢wunts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination. I have cxjnwns and have come across no matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding ol the financial statements lo be leached. David Brown FCA 8rown Warner LLP Chartered Acu)untants 38 Northgale. Newark-on-Trent. Englan¢J NG24 1 EZ Date Page 6 CONGREGATION OF BROTHERS OF THE SACRED HEARTS OF JESUS AND MARY AND OF PERPETUAL ADORATION OF THE MOST BLESSED SACRAMENT OF THE ALTAR STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31ST DECEMBER 2023 Designated Funds Unrestricted Fund¥ 2023 2022 Not• Incom• and endowments from.. Donatlons & appoals 5,386 1,591 8.977 45,840 L•gachs Ch•ritsble •¢tlvltl*$ Stipends Salary income Pansions 2.745 2,745 2,500 24,032 11,210 4,689 21,581 24.032 Inv•stmont Incom• Intèrèst receivable 132 132 78 Total Income 5,516 30.868 36.388 83,398 Exp•ndltur• an: Ralslng funds Fundraising and publicity Charltable ACtI￿rieS Provision ol charitablo acisvili•s Oonallon8 133 5.000 69.2 105,79) 89,423 110.750 47,514 15,000 Totsl •xp•ndltur• 5,133 175.040 180,173 82,514 N•t in¢omdl•xp•ndltur•l beforn Tr¥n•ler 385 1144,1721 1143.78n 20.884 Trnnsfer Bthe?n Fund• N•t Incom•ll•xp•ndltur•l for th• y•ar 385 1144,1721 {143,78n 20,884 Oth•r ylna & Ilo•a••l Net m0￿M*nt of fund8 385 1144.1721 1143,78n 20,884 Balance* at 1•t J4nu•ry 2023 61,145 929,0 990,241 969.357 Balanc￿ at 31st December 2023 61,530 784,924 846,454 990,241 The statement of financial activities indud6s 811 gains and losses recognised in the year. All income and expendrture derive from continuing activrties. P¥Je 7 CONGREGATION OF BROTHERS OF THE SACRED HEARTS OF JESUS AND klARY AND OF PERPETUAL ADORATION OF THE MOST BLESSED SACRAMENT OF THE ALTAR OF THE MOST BLESSED SACRAMENT OF THE ALTAR 8ALANCE SHE YEAR ENDED 31ST DECEM8ER 2023 2023 2022 FIXED ASSETS 59),352 598.258 CURRENT ASSETS Debtors Cash at Bgnk & in H8nd 2.547 266.818 269,363 2.264 405.300 407.564 CREDITORS: Amounls falling due wilhin one year 13.261 13,581 N•t Curr•nt A••et• 256.102 393.983 NET ASSETS 846,454 990.241 FUNDS D•slgnat•d Funds G•n•r*l Unr••trlct•d Fund 61,530 784.924 81,145 929,098 846.454 990,241 The notes at pages 9 to 14 form part of these accounts. The finanaal staloments were approvod by the Trustees on 19th September 2024 a<,,W,.y'&, The Rev. Chii8lopher MeAneny Page 8 CONGREGATION OF 8ROTHERS OF TrIE SACRED HEARTS OF JESUS AND MARY AND OF PERPETUAL ADORATION OF THE MOST BLESSED SACRIMENT OF THE ALTAR NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31ST DECEMBER 2023 1 ACCOUNTING POLICIES Charlty Informatlon COng￿gatIon of the Sacred H8art ol Jesus and Mary and of Perpetual Adoratron of the Most Blessed Sacrament ol Ihe Altar is a th8rty whkh foll¢>ws the Constitutions and Slalues of the Congregalvjn as renewed and approved by The Congreg8llon for Inslltules of the Consecrated Life and Soci8ties of Apo$tollc Life as given at Rome on 9¢h day of Juty 1990. The charty is regi$lefed wth the Charity Commission of England and W8le3 vllh Ihe charity rtUm￿r 232406. The princip81 address is 372 Uxbridge Road, Ealing. London. W5 3LH. nv The financial statements have be¥n praparod in a¢cordanc8 the charitys conslitulion, the Chari116s Act 2011. FRS102"The Finanrial Reporting Sland8fd applicable in the UK and Republic ol Ireland IFRS 1021" and the Charrtie$ SORP"Accounting and Reporting ty Chanties.. Statement of Recommended Practice applicable in charities preparlng their accounts In accordance wlh Republic ol Irgland IFROS1021" 18ffoctiv8 1 January 20191. This is a Publlc Benefit Entity as deflned by FRS 102. TM charty h88 taken a¢fvontsge of Ihe provisions in the SORP for charities not to prepare • Statement ol Cash FbvA. rhe flnanclal statam&nl have departed from the Charities (Accoun18 and Reportsl Rtgulalions 2CQ8 onty lo the extent required to provide a Irue and falr view. This departure has involved following the Sl8tement of RecommeThJed Pr8cticE for Charities applying FRS 102 rather than the version of the Slalemenl R￿mmended Pracllce vthlch 1$ referred lo In Ihe rggulatjons but whlch has slncA been wrthdrawn. The financial slalemenls are prepared In 8lerflng vthlch Is thg functional cvrrenry for the charity and rounded to the nearest £ Thè fln8nd818latemtsnls have been prepared under th& hl$lort81 cost CAJnventlon. modlfled to Indude the revaluation of freehold prcy)8ty and to in¢lud8 certaln flnanclal Instrum8nts at lalr value. Al the lime ol approving the finan¢i81 statements, the trustees have a reasonable expectation that the charity has adequate resources lo ￿ntInue in operational existence for the foreseeable futu￿. Thus the trustees continue to adopl the golr¢g ¢on¢em basis for accounting in preparing the finandal statements. 1.3 Ch leF General Fund repr888nts Ijnrestrfcled Income whlch may be spenl genw81ty lor fvrthedng thtr religlous and charilable work of the Congregalion. Oesignaled Funds rep￿S￿nt funds sel aside by the truslees for specrfic purpos&$. Pag& 9 CONGREGATION OF BROTHERS OF THE SACRED HEARTS OF JESUS AND hWIY AND OF PERPETUAL ADORATION OF THE MOST BLESSED SACRAMENT OF THE ALTAR NOTES TO THE FINANCIAL STATEMENTS YEAR ENOED 31ST DECEM8ER 2023 1.4 Incomin Resources ASI Income a￿ included in the statemenl of financi81 artNitV￿ bthen the th8rty is onliued to the income and the amount can be quantified wth reasonable 8ccur8cy. The follo%%Tng $￿C￿¢ polic￿$ are applied to particular categories of income.. Cash donations are recognised on receipt. other donations are recognised tsnce thè charity has b8Èn notffied tsf the donation, unkss perfomiance conditions require deterral of the arnounl. Legacies are recognised on fe¢etpt or otheThwse if the charity ahs been nth.fied of an Impending distribution. the amo¢Jnts is kn￿￿. and receipt is expe(*ed. l*Kome recewed by %Yay of the Fathers. pension in￿￿*, stipends and salaries gamed are included when receNable. Investment income is induded when receN8ble. 1.5R Ex nd All expenditure is ￿tog￿l$ed once there is a legal or constNctive obligation to that expenditure, rt is probable settternent is required and the ar(K)unl can b8 measured ￿l￿ably. All costs are allocated to the applicable expendrture heading that 89gregate similar costs tr) that category. Whère costs cannot be (Jirectty attributed to parti￿lar headings they have been allocated on 8 b8515 consistent wrth the use of resources. Costs of raising funds comprise the costs asSQCl8led wth attr4¢ting incon*. Charitable expenditure comprises those ¢o$ts incurred by the charty in the delivery of rts a