OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2022-12-31-accounts

Order of Augustinian Recollects

Report and Financial Statements

Year Ended 31 December 2022

Registered Charity Number: 232501

Order of Augustinian Recollects - St.

Year Ended 31 December 2022

Contents Contents Page
Report of the Trustees 2
15
Statement of Financial Activities (SOFA) 16
Balance Sheet 17
Notes forming part of the financial statements 18

Order of Augustinian Recollects - St.

Report of the Trustees

31 December 2022

The Trustees are pleased to present their report and financial statements for the year ended 31 December 2022.

They financial statements comply with the Charities Act 2011, the terms of the Trust as described below and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

Objectives, Activities and Public Benefit

The Charity carries on part of the work of the religious order known as the Order of Augustinian which is part of a wider Province of the Order based in Spain. We share our Order and Provinces Vision and Mission:

This Project of Life and Mission of the Order wants to be an answer to what the Lord asks of us today as Augustinians, and is guided by this Vision that we want to achieve:

1.Summoned within the Church by the Spirit of the Lord, we follow Christ in communion with our brothers until we become one soul and one heart directed towards God.

2. We are men of community. The community is for us a gift to be celebrated and a project to be built from our different cultural backgrounds. We live fraternal life in community, overcoming individualism, sharing life, prayer, and work, enjoying the happiness of being together and living its demands faithfully.

3. We are members of the People of God, missionary disciples. We contribute to the communion within the Church living our charism. We willingly stay and go wherever the Church needs us, and we want to serve it, especially among the poorest.

4. We love prayer. We are men of faith who pray together, and who, following the teaching of St Augustine and our recollect tradition, listen to the Word and share our experience of God in community.

5. We want to follow the Christ who made himself poor for us. We need little and we have the goods in common. We live with austerity, caring more about the common good than hem with the poor and needy.

6. We live the service of authority and obedience out of charity, promoting trust and mutual dialogue.

7. We have a common Apostolic Project. We all feel co-responsible for the apostolic work entrusted to the community. We program, execute, and evaluate in community.

8. We seek Jesus Christ, the Truth. We try to be consistent in our life and mission, giving prophetic witness to a contemplative, community and apostolic life.

9.We value and dedicate time to community study, reading and reflection and create spaces for dialogue with the world and contemporary culture.

10. We are Prophets of the Kingdom. We proclaim with joy and hope the Gospel that gives

2

Order of Augustinian Recollects - St.

31 December 2022

creational project; we denounce injustices and prefer to abide poor among the poor and the needy.

Province´s Vision

1. We are religious striving to mature as persons in each of the stages of our spiritual life and growth, taking advantage of all the resources and life experiences that could help us to turn to the Lord and to grow, always seeking the personal spiritual accompaniment, in a community in which we love, respect, correct and challenge one another.

2. We are religious who hand over to God, whatever He asks of us to serve our brothers in the community and to serve faithfully the Church as good servants. We prepare ourselves for this by regular contact with God in prayer, study and continuous formation.

3. We are friars who desire with all our being to be moulded in the Augustinian recollect spirituality, which God has given us, whose riches we value and want to share with those who are called to live our life and with those who are called to sanctify themselves by living this spirituality in the world.

4. We are friars who are not happy in remaining in abstract principles, but want to take concrete commitments that manifest our love of God and our desire to fulfil his will: challenging young people who need to define their vocational options, welcoming them in our communities, accompanying them, sharing with them our experience and, above all, offering them a testimony of a demanding and coherent life.

5. We are consecrated people who are willing to go to any country or place that holy obedience asks of us, to strive for the great apostolic challenge, accepting demanding ministries and experiences as good news.

6. We are consecrated people who wish to share with the Church their mission, to fulfil it in permanent communion with the laity and to offer them patterns of growth and training so that they also become evangelizers, assuming the challenge of the education and formation of the young.

7. We are friars who consider the common life and our mutual encouragement in community life as something fundamental to our charism and spirituality. So, we wish that our Priors have the possibility of training in accompaniment of their brothers in order to guide and help them and their communities to discern.

8. We are friars who wish to unite our strengths and have at our disposal the tools and structures that are in line with those of the Order which can help us to be creators and animators of our life and activities.

9. We are consecrated people who wish to live the evangelical poverty, especially by putting in common our goods and sharing them with solidarity with the poor and in the social projects which we assume with responsibility.

10. We are consecrated people who assume as a challenge to share our life and mission, in a particular way in the United States rearranging our communities to serve the ministries with the highest quality and establishing the most suitable way of living our charism in community.

Mission

Our mission is to live and proclaim the Gospel, giving testimony of a contemplative and fraternal life, in the service of the Kingdom and in shared mission with the laity.

3

Order of Augustinian Recollects - St.

31 December 2022

We try to spread our spirituality and the devotion to our saints who have incarnated it along the ages, as different models of putting our Charism into practice.

The Trustees continue to carry out pastoral work both in the Catholic parishes of Holy Family, retired friars and promoting vocations to priesthood and the religious life. The Charity also provides priests elsewhere where possible.

-suite accommodation for about 30 people and conference facilities for more.

-glass windows in patrons. The Charity provides a centre where people can find inner peace which often eludes them in life.

diminishing number of Recollects. This has been achieved by careful allocation of human and financial resources according to greatest need.

The Trustees have reviewed their objectives and activities to ensure they continue to reflect the guidance (since revised) on public benefit.

Personnel

At the end of the year under review, the Delegation of the Order consisted of ten ordained priests and one brother working in different ministries in England. Of these, four priests and one brother .

The friars meet for their prayer in common, meditation and the Divine Office in the morning, at midday and in the evening, and for their monthly meetings. As well as Delegation meetings of all the friars, there are informal gatherings which contribute to the spirit of community in the Delegation and thus to our wider pastoral work.

The Charity is committed to supporting its members who have spent most of their working lives in the furtherance of its aims, either voluntarily or by covenanting earned income from outside employment.

The Charity does not to any material extent depend on volunteers for the provision of its pastoral work, other than in the context of the parishes which it administers on behalf of the local Diocese. does not lend itself to such detailed analysis. However, that work continues very satisfactorily despite limited resources. The Trustees have not been able to set aside a designated fund for retirement or establish a reserve against shortfalls in income.

4

Order of Augustinian Recollects - St.

31 December 2022

The Centre provides facilities for parish groups, retreats, youth groups, ecumenical groups and individuals seeking the chance to be at peace with God. The Centre remains very popular and is heavily booked. It has proven a considerable boost to the Order

individuals for private retreats and for youth gatherings, with three retreat days for religious each year and a variety of other gatherings and meetings.

Achievements and Performance

Pastoral Activity Events 2022

We have been able to have this year at least the annual retreat in common with the brothers of the Delegation who were able to come. This year we the privilege of having Fr Henry who is an expert of St Augustine. It was a wonderful retreat.

These days of retreat and fraternal coexistence were for all the brothers like an oasis in the midst of an already long period of accumulated stress and isolation during all the time of restrictions. These occasions are a great opportunity for all the religious of the Delegation to get together to pray and meet fraternally.

Pastoral Activity in Honiton

The community is divided into three main areas: Parishes, Promotions and the Centre.

a Retreat Centre but we also offer our services to the local community. The Centre has become a meeting place for the religious of the Diocese. We also host all the local Deanery days. We ran meditations. We have taken a few private visitors but at the moment we only accept priests and nuns for individual retreats.

Regarding the concrete applications of our Life and Mission Project, and its priority objective of being promoters of communion within the local Church and the Order, we can say that this year we have been able to offer an adequate space for many of the Diocesan activities and organizations who have opted for the availability, services, prices, discounts and security offered by St. Rita's Centre in these times of post pandemic. We have hosted meetings and gatherings of Diocesan Caritas, Catholic schools, meetings and camps for young people of the Diocese, meetings of the committee for the support of the Diocesan Clergy, annual diocesan retreat of the Legion of Mary, events of the Catholic Women League and meetings of the Diocesan Presbyteral Council of the Bishop.

5

Order of Augustinian Recollects - St.

31 December 2022

Achievements and Performance (continued)

During 2022

This year we continued with the Novena to St. Monica and St. Augustine to pray for the conversion and sanctification of ourselves and our loved ones. This new novena and the seven Masses in honour of St. Nicholas of Tolentino are added to the novenas of Our Lady of Consolation and St. Ezekiel Moreno, so that from August 11 to September 10 we are linking all these AugustinianRecollect novenas forming what we have presented to our devotees as the Augustinian Recollect Holy Month.

With this novena to St. Monica and St. Augustine we have completed the list of our most representative saints, helping in turn to better understand the origin of devotion to Our Lady of Consolation, and offering to so many mothers and grandmothers who write to us asking for prayers for their loved ones, an instrument to channel and ask together for the conversion of their husbands, children and grandchildren.

We offer online our novenas and newsletter on our website: www.stritascentre.org and through our Facebook page.

Honiton Holy Family Parish

Parish Priest: Fr. Jose Romero O.A.R.

The parish continues to be active in all areas of the Liturgy, social and charitable works. The parish encourages parishioners to take part in the Parish life in its different aspects.

6

Order of Augustinian Recollects - St.

Report of the Trustees

31 December 2022

Achievements and Performance (continued)

Ottery St Mary-

Parish Priest: Fr. Frank Umendia O.A.R.

in Ottery. Parishioners are encouraged to be proactive within the parish taking on responsibility for certain aspects of parish life. We are very fortunate to have a Deacon in our parish.

The Secular Fraternity of the Order

continues to grow. We have been able to promote a close and affectionate relationship between the members during the meetings. His promise was received by Father Prior and the preaching was carried out by Fr. Hugh Corrigan, spiritual director of the Fraternity. The members of our Secular Fraternity also participated in the closing Mass of our annual retreat and the subsequent fraternal meal.

Retirement Fund

In 2005, the Trustees sought advice on the size of retirement fund needed to provide for those no longer engaged in pastoral or educational work, or who have left the Order but for whom continuing nd resources. No specific sum is allocated for the latter purpose, since it is not possible to quantify amounts due. No commitments or guarantees have been given in this or any other respect. It was decided that, having regard to sums owed to its connected charity, there was no foreseeable possibility of creating a retirement fund.

Other than stated above, there have been no material changes in the objectives or policies of the Order. No other important events affecting the Charity have occurred between the date of the Balance Sheet and the date of this Report.

7

Order of Augustinian Recollects - St.

31 December 2022

Financial Review

The Order does to some extent depend on voluntary donations, some rents and the very occasional legacy to sustain its work. For the purposes of these accounts, no value has been placed on the administration and other services provided by members of the Order.

The Order does not currently engage in fund-raising as such. Historically the Order has been grateful for voluntary donations and legacies to sustain its work. This is in part promoted by a We are very grateful to them for their financial and prayerful support.

The Statement of Financial Activities shows a surplus of £30,004 (2021: surplus of £29,698) after depreciation of £31,367. There was an increase in donations which includes £126,762 of legacy income. Income from the pastoral centre decreased but parish income and rental income remained consistent. The charity relies largely on voluntary donations from parishioners and those

The Balance Sheet shows total net assets of £426,455 (2021: £396,451). The net book value of equipment which are essential to the day-to-day work of the charity and to the care of its members) is well below £1m. Their value is not regarded as realisable in order to meet the ongoing costs of the charity. Also, no value is attributed to the church building which is a heritage asset.

There are no free reserves available to support the work of the charity as creditors substantially exceed cash and investments. So, the charity is heavily dependent on the continuing support of its sister charity as mentioned below.

The Order continues to review its finances, facilities and needs in order to match future income with expenditure, having regard to the increasing number of retired priests especially as to provision for those who need nursing care either now or in the future.

Ideally, the Trustees would aim to build the charity's free reserves to an equivalent of between 2 and 6 months' expenditure, but they acknowledge that the charity's reserves fall considerably short of this target at present. This situation has arisen following the very significant investment in the charity's freehold property over recent years and the losses suffered over the last few years. But, this investment was deemed essential in order to enable the charity to fulfil its objectives and it is felt that the investment has proved to have been very worthwhile, pastorally if not financially.

In 2001 the separate Charity, The Order of Augustinian Recollects Charitable Trust, based in Honiton, Devon, made an interestThis amounted to £478,288 at 31 December 2022. Both charities have the common purpose of the maintenance and advancement of the Roman Catholic Church by preaching, teaching and other means and have, amongst their principal objects, the taking care of missions among the faithful. The Order does not make grants other than occasional small donations to related charities.

8

Order of Augustinian Recollects - St.

31 December 2022

Financial Review (continued)

Investment powers and performance

on investments is that, where possible, surplus funds after repayment of borrowing from the Provincial House should be invested so as to give a balance of capital growth and income in order to sustain the work of the Centre, but no such surplus is currently foreseen and there are currently no investments.

Risk Management

The Trustees have identified any major risks facing the Charity and taken such steps as they can to mitigate them. However, at present the greatest risks to the Order are the lack of candidates from the UK or Ireland under training for the religious life and the consequent lack of priests and or other care for those friars who have retired.

Reserves policy

The Trustees have examined the need for free reserves i.e. those unrestricted funds not invested in tangible fixed assets, designated for specific purposes or otherwise committed. The Trustees el of free reserves should be up to 6 There is also a need to provide for the increasing numbers of retired religious and the cost of nursing care when fewer religious are able to earn an income. However, that target is considered unattainable at the present time as the priority is to maintain the Centre as relatively low-cost.

There are in fact no free reserves at 31 December 2022.

Plans for the Future

The Order continues to review its spending plans and needs and makes every effort to manage its existing assets as efficiently as possible in order to generate the income necessary to achieve the

In common with other religious orders, the Order has continued carefully to review both its resources and its future role in this country. The Order intends to remain actively involved in the advancement of its religious and other charitable objects. No material change is proposed, although much will depend on the continuing good health of the remaining active friars.

The intention of the Trustees is to continue to provide pastoral work at the Centre and, over time, to repay the balance on the long-term loan from The Order of Augustinian Recollects Charitable Trust. It is then the intention that the charity will build up free reserves. In the meantime, the charity is dependent on the continuing support of The Order of Augustinian Recollects Charitable Trust - support which the Trustees have no reason to believe will be withdrawn.

9

Order of Augustinian Recollects - St.

31 December 2022

An assembly of all the friars with the Provincial is planned for the year 2023. This will be held in work here in England.

As noted above, the Order will continue to resist pressure from the Local Authority for further land to be released. The Trustees must protect the peaceful and serene objectives of the

Structure, Governance and Management

Conveyance and Settlement dated 31 May 1934

association established by virtue of the above Deed, whereby the then Bishop of the Roman Catholic Diocese of Plymouth conveyed a 14-acre property called Broomhills at Honiton, Devon, erecting and equipping a public church serving 120 people (in addition to members of the Order), on a site and to a specification to be agreed with the Bishop, for the Roman Catholic community in and around Honiton.

A Church was duly built with a parish hall. In carrying out its mission there at its own expense, the If the Order were to leave Honiton, and grounds together totalling between a third and a half of an acre as the site of a Presbytery, to Plymouth Diocese. Alternatively, the Order may offer the Bishop a properly equipped replacement Church and site not more than ½ a mile from Honiton Post Office.

Subject to the above, the property is held for the charitable purposes of the Order, namely the maintenance and advancement of the Roman Catholic Church by preaching, teaching and other (as in the Deed) .

In addition to building the Church and hall (with the aid of contributions from a small parish community and trust funds by other trustees held on its behalf), the Trustees created a College or

Conveyance and Settlement dated 19 March 1935

aforesaid for the general purposes of the charitable work of the said Religious Order as carried on thereat but so long only as the said Missionary College or some other charitable work of the said

There is a provision that, if the Order is no longer still active in Honiton, the property (or the capital representing the same) will form part of the endowment of another trust (held for the Roman

10

Order of Augustinian Recollects - St.

31 December 2022

Catholic parish at Honiton by Plymouth Diocese) which does not benefit the Order. It therefore created a permanent endowment.

The permanent endowment charity created by the 1935 Conveyance is registered as a subsidiary charity of the above trust for the general purposes of the charitable work as carried out by the Order at Honiton. The Conveyance is silent as to powers of the Trustees, who are appointed as above.

Recollects charity (number 237522) administered by the same trustees.

Governance

The charity is part of an international Order, founded in 1588, of Roman Catholic friars or Recollects England, which began in the early 1930s, is carried out within what is known to the Order as the by two elected Counsellors and a Delegation Procurator (Bursar) whom he appoints. As the Delegation is part of a wider Province he in turn submits annual reports to a Provincial of the Order based in Spain.

The Delegate Provincial, as a Major Superior of the Augustinian Recollects, has significant powers as to the acceptance and dismissal of candidates to the Order and as to the disposition of powers to spend up to £3,000, refer to his superiors in Spain and/or to the friars in England before authorising the Trustees to dispose of property permanently.

as Trustees the Council meets regularly to advise the Delegate Provincial on matters concerning the charity and formal decisions affecting its charitable activities are taken at regular meetings of the Trustees, most of whom serve on the Council.

Recruitment and Appointment of Trustees

The Conveyance and Settlement is silent as to powers of the Trustees. Retiring and continuing Trustees therefore appoint new Trustees under statutory powers, but on the recommendation of . Given its nature, it is not considered appropriate to recruit trustees from outside the Order and no policy has been adopted in that regard. No specific training has been given to the Trustees but they have sufficient access to professional and practical advice, especially as members of the Conference of Religious, to understand their responsibilities as charity trustees.

11

Order of Augustinian Recollects - St.

31 December 2022

Financial Governance

The Delegation Procurator administers certain funds on behalf of the Order as a whole, again under the direction of the Delegate Provincial. Each year, he submits to the Delegate Provincial and his Council a formal account of his administration of those f

own Rules and Constitutions, in addition to their regular meetings as Trustees. The Council meets regularly to advise the Delegate Provincial on matters concerning the Order and formal decisions affecting its charitable activities are taken at regular meetings of the Trustees, most of whom serve on the Council.

The Prior has delegated powers to spend up to £800 or £2,000 with the permission of his Council.

Little cash is held, and donations and other receipts are invariably by cheque, as is most expenditure. Internal controls over cash, donations and expenditure are therefore considered adequate.

Key management personnel remuneration

The trustees consider that the Board of Trustees comprise the key management personnel of the charity in charge of directing and controlling the charity and running and operating the charity on a day to day basis.

by taking vows of poverty, have renounced all personal rights to income and capital. The living costs of the Trustees are therefore borne by the charity in the same way as those of other priests and they receive no benefit by virtue of their position as trustees.

Connected Charities

Other than the Order of Augustinian Recollects Charitable Trust (charity number 237522) there are no related parties or connected charities associated with the Charity, although it continues to work closely with the Roman Catholic Diocese of Plymouth and other charitable bodies. The Prior, Fr Gerald Wilson, is the Vicar for Religious for the Diocese of Plymouth and as such advises the Bishop on matters concerning religious communities in the Diocese.

12

Order of Augustinian Recollects - St.

Reference and Administrative Information

Principal Office

Ottery Moor Lane Honiton EX14 1AP

Trustees

Father Carlos Abajos Father Gerald Wilson Father Hugh Corrigan Fr Jose Romero.

Delegation Council

Father Carlos Abajos (1[st] Counsellor) Father Gerald Wilson Father Hugh Corrigan (2[nd] Counsellor)

Provincial Delegate for England Father Gerald Wilson

Delegation Procurator (Regional Bursar)

Father Gerald Wilson

363 Kennington Lane Vauxhall London SE11 5QY

Solicitors Tozers LLP Broadwalk House Southernhay West Exeter EX1 1UA

Principal Bankers

HSBC Bank Plc 86 High Street Honiton EX14 8JN

Independent Examiner

Neil Hitchings FCA Francis Clark LLP Centenary House Peninsula Park Rydon Lane Exeter EX2 7XE

Investment Advisers

M & G Investment Management Ltd 7th Floor, 3 Minster Court Great Tower Street London, EC3R 7XH

Insurance Broker

D E Ford Poppleton Grange Low Poppleton Lane York YO26 6GZ

Registered Charity Number 232501

13

Order of Augustinian Recollects - St.

31 December 2022

responsibilities in relation to the financial statements

statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing the financial statements the trustees are required to:

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust Deed. They are also responsible for safeguarding the assets of the charity and taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by the trustees on 2023 and signed on their behalf by:

Fr Gerald Wilson OAR Trustee

14

Order of Augustinian Recollects - St.

trustees of the Order of Augustinian Recollects

I report to the trustees on my examination of the accounts of the Order of Augustinian Recollects (the Trust) for the year ended 31 December 2022.

Responsibilities and basis of report

As the charity trustees of the Trust you are responsible for the preparation of the accounts in

2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Since the gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the ICAEW, which is one of the listed bodies.

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Signed:

Neil Hitchings FCAd Independent Examiner Francis Clark LLP Chartered Accountants Centenary House Peninsula Park Rydon Lane EXETER EX2 7XE

2023

15

Order of Augustinian Recollects - St.

Statement of Financial Activities (SOFA)

Year Ended 31 December 2022

PermanentUnrestricted
Notes Endowment Funds
£
£
Income
Donations and legacies
3
-
179,555
Income from charitable activities
Pastoral Centre and similar income
4
-
95,759
Rental income
5
-
7,804
Other income
6
-
6,580
Total income
-
289,698
Expenditure
Expenditure on charitable activities
7
-
259,694
Total expenditure
-
259,694
Net movement in funds for the year
-
30,004
Reconciliation of funds
Total funds at 1 January 2021
21,207
375,244
Total funds at 31 December 2022

21,207
405,248
==========================================
==========================================		 Total
2022
£
179,555
95,759
7,804
6,580
289,698
259,694
259,694
30,004
396,451
426,455
==========================================		 Total
2021
£
115,332
99,992
7,804
27,554
250,682
220,984
220,984
29,698
366,753
396,451
==========================================

All comparative Income and Expenditure are attributable to unrestricted funds.

16

Order of Augustinian Recollects - St.

Balance Sheet

31 December 2022

Notes
Fixed assets
Tangible assets
10
Current assets
Stock
Debtors
11
12
Cash at bank and in hand
13
Creditors:amounts falling
due after more than one year
14
Net current assets
Creditors:amounts falling
due after more than one year
14
Net assets
The funds of the charity
Capital fund
Permanent Endowment
15
Unrestricted funds
Income fund
15
General fund
15
Total unrestricted funds
Total charity funds		 2022
£
£
752,367
13,055
7,327
137,292
157,674
(5,298)
152,376
(478,288)
426,455
==========================================
21,207
199,072
206,176
405,248
426,455		 2021
£
£
763,606
10,417
15,888
107,545
133,580
-
133,580
(501,005)
396,451
==========================================
21,207
161,214
214,030
375,244
396,451

Approved by the Board of Trustees on 2023 and signed on its behalf by Fr Gerald Wilson OAR Trustee

17

Order of Augustinian Recollects - St.

Notes forming part of the financial statements

Year Ended 31 December 2022

  1. Accounting Policies

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

a. Basis of preparation

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) regulations 2008 only to the extent required to provide a 'true and fair view'. This departure has involved following Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has been withdrawn.

Having considered all relevant factors and taking into account the continuing support of the charities sister entity, the trustees consider that there are no material uncertainties about the

Assets and liabilities are initially recognised at historical or transaction value unless otherwise stated in the accounting policy note.

Separate accounts are maintained for the pastoral and other activities carried out as follows:-

The financial statements include the transactions, assets and liabilities of these accounts.

18

Order of Augustinian Recollects - St.

Notes forming part of the financial statements (continued)

Year Ended 31 December 2022

b. Accumulated Funds

The accumulated funds, represent the following:-

Income Fund (Unrestricted)

The aggregate of net incoming resources since the trust was founded. General Fund (Unrestricted)

Land and property in respect of the settlement and conveyance dated 31 May 1934, plus subsequent additions at cost, less accumulated depreciation.

Permanent Endowment

Land in respect of the settlement and conveyance dated 19 March 1935.

c. Fixed Assets

The charity has opted to treat previous revaluations of property as deemed cost on transition to FRS102.

Tangible fixed assets are recorded at cost. Impairment reviews are performed where there is an indication that an impairment has occurred. Fixed assets costing less than £500 are not capitalised.

d. Depreciation

Assets are depreciated over their estimated useful lives as follows:-

Freehold property, excluding land 2% straight line
Motor vehicles 25% reducing balance
Fixtures, fittings and equipment 15% reducing balance

e. Creditors (greater than one year)

The interest free loan from the Order if Augustinian Recollects (a sister charity) is considered to be a public benefit entity concessionary loan and as such it is recognised as due greater than one year (in line with the substance of the arrangement) and no discounting is applied.

The loan will be repaid when funds become available to do so.

f. Income

Income is recorded on a receivable basis. Income from bequests and legacies is recognised when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. Entitlement is the earlier of the charity being notified of an impending distribution or the legacy being received.

19

Order of Augustinian Recollects - St.

Notes forming part of the financial statements (continued)

Year Ended 31 December 2022

g. Expenditure

Expenditure is recorded on an accruals basis and has been classified under headings that aggregate all costs related to that category.

h. Value Added Tax

The Trust is not registered for Value Added Tax (VAT). Expenditure in these financial statements therefore includes VAT paid where appropriate.

i. Trustee Benefits

who, by taking vows of poverty, have renounced all personal rights to income and capital. The living costs of the Trustees are therefore borne by the charity in the same way as those of other priests and they receive no benefit by virtue of their position as trustees.

j. Administration

For the purposes of these accounts, no value has been placed on the administration and other services provided by members of the Order.

2. Status of Trust

The Trust was created by a Conveyance and Settlement of over 14 acres of land known as Broomhills Park, Honiton, from the Roman Catholic Bishop of Plymouth, dated 31 May 1934.

The terms of the Conveyance required the Trustees to erect and complete a Church with seating accommodation for 120 persons and to provide (premises) for the members of the Order of St. Augustine Recollects for its charitable purposes. The Order has existed since 1588 and is devoted to the maintenance and advancement of the Roman Catholic Church by preaching, teaching and other means and has amongst its principal objects the taking care of missions among the faithful.

The Conveyance also required the church and certain land to be vested in a Trust, as directed by the Bishop of Plymouth, for the general charitable purposes of the Roman Catholic Diocese at Honiton, should the Order withdraw from the mission there. A further 7 acres of land at Broomhills Park was conveyed to the Trustees by Leonard Cecil Colin Lindsay on 19 March 1935. The terms of the Conveyance required the Trustees to use the land in connection with s Centre) for the general purposes of the charitable work of the Order of Augustinian Recollects carried on in Honiton.

20

Order of Augustinian Recollects - St.

Notes forming part of the financial statements (continued)

Year Ended 31 December 2022

The terms of this Conveyance and Settlement require the land, including proceeds of sale of any part of it, to vest in trustees (who were not members of the Order) of a Trust created by from Honiton. Recollects by the same trustees.

3. Donations and legacies

Permanent Unrestricted
Endowment
Funds
£
£
Donations - general
-
44,935
Collections
-
3,858
Legacies
-
126,762
Government grants
-
4,000
-
179,555		 Total
2022
£
44,935
3,858
126,762
4,000
179,555		 Total
2021
£
56,372
1,945
2,000
55,015
115,332

4. Pastoral Centre and similar income

Permanent Unrestricted
Endowment
Funds
£
£
Pastoral Centre income
-
49,992
Parish income
-
17,039
Repository
-
12,402
Donated earnings of members
-
4,680
Stipends
-
11,646
Stole fees
-
-
-
95,759		 Total
2022
£
49,992
17,039
12,402
4,680
11,646
-
95,759		 Total
2021
£
57,649
16,017
11,806
4,262
10,258
-
99,992

5. Rental income

Permanent Unrestricted
Endowment
Funds
£
£
Rental income
-
7,804
Printing and duplicating
-
-
-
7,804		 Total
2022
£
7,804
-
7,804		 Total
2021
£
7,804
-
7,804

21

Order of Augustinian Recollects - St.

6. Other income

6.Other income
Permanent Unrestricted
Endowment
Funds
£
£
Sundry income
-
6,580
Permanent Unrestricted
Endowment
Funds
£
£
7.
Analysis of expenditure on charitable activities
Salaries
-
88,434
-
3,183
Repository
-
3,833
Office Costs
-
23,725
Food
-
25,897
Chapel and books
-
1,777
Advertising
-
327
Travel
-
1,290
Motor
-
4,549
Household
-
7,339
Rates
-
3,048
Energy
-
18,350
Repairs and maintenance
-
17,768
Insurance
-
28
Sundries
-
13,641
Depreciation
-
31,367
Hire of equipment
-
2,258
Donations
-
9,553
Bank charges
-
1,077
Governance costs (see Note 8)
-
2,250
Total charitable expenditure
-
259,694		 Total
2022
£
6,580
Total

2021

£
27,554

Total

2021

£
88,359
1,987
3,312
26,647
21,004
1,398
357
919
4,347
5,729
2,691
11,661
8,236
119

3,689
28,866
2,798
6,535
330
2,000
220,984

Total
2022
£
88,434
3,183
3,833
23,725
25,897
1,777
327
1,290
4,549
7,339
3,048
18,350
17,768
28
13,641
31,367
2,258
9,553
1,077
2,250
259,694

8. Governance costs

Permanent Unrestricted
Endowment
Funds
£
£
Accountancy services (incl. VAT)
-
1,430
Independent examination fees (incl. VAT)
-
820
Total expenditure
-
2,250		 Total
2022
£
1,430
820
2,250		 Total
2021
£
1,300
700
2,000

22

Order of Augustinian Recollects - St.

Notes forming part of the financial statements (continued)

Year Ended 31 December 2022

9. Staff
2022 2021
Number Number
Average number employed in year 4 8
Aggregate amounts paid in respect of:
£ £
Wages and salaries 83,742 86,809
Social security costs 4,692 1,451
88,434 88,359

No employee received emoluments exceeding £60,000 p.a. Trustees received no remuneration in the year - see Note 2(i).

The trustees consider that the Board of Trustees comprise the key management personnel. Order who, by taking vows of poverty, have renounced all personal rights to income and capital. The living costs of the Trustees are therefore borne by the charity in the same way as those of other priests and they receive no benefit by virtue of their position as trustees.

10.Tangible Fixed assets
Freehold
property
£
Cost
At 1 January 2022
1,286,932
Additions
-
At 31 December 2022
1,286,932
Depreciation
At 1 January 2022
539,962
Charge for year
25,738
At 31 December 2022
565,700
Net book amounts
At 31 December 2022
721,232
At 1 January 2022
746,970		 Fixtures
Motor
and
vehicles
equipment
Total
£
£
£
47,795
122,735
1,457,462
-
20,128
20,128
47,795
142,863
1,477,590
46,620
107,274
693,856
294
5,335
31,367
46,914
112,609
725,223
881 30,254 752,367
1,175
15,461
763,606

The net book value at 31 December 2022 represents fixed assets used wholly for direct charitable purposes.

23

Order of Augustinian Recollects - St.

Notes forming part of the financial statements (continued)

Year Ended 31 December 2022

10. Tangible Fixed assets (continued)

The Freehold Property comprises:-

Moor Lane, Honiton, Devon, £725,000 at valuation and subsequent improvements at cost of £561,932.

dated 31 December 1997, prepared on 23 October 1998. This includes 7 acres of land which is Permanent Endowment with an estimated value of £21,000.

The charity has opted to treat these revaluations of property as deemed cost on transition to FRS102.

11.Stock
Shop inventory
12.Debtors
Accounts receivable
13.Cash at Bank and in Hand
Current accounts
14.Creditors
Due within one year:
Accounts payable
Other creditors
Due after one year:
Loan from the Order of Augustinian Recollects		 2022
£
13,055
2022
£
7,327
2022
£
137,292
2022
£
1,200
4,098
478,288
=======		 2021
£
10,417
2021
£
15,888
2021
£
107,545
2021
£
-
-
501,005
=======

During the year, the interest-free loan from the Order of Augustinian Recollects (a sister charity) increased by £2,000, representing the cost of accountancy services paid for by the Main Order, to £478,288. The loan will be repaid when the Trustees consider that the charity has sufficient funds to do so.

Under FRS 102 this is considered to be a public benefit concessionary loan and is therefore recognised as greater than one year without any discounting applied.

24

Order of Augustinian Recollects - St.

Notes forming part of the financial statements (continued)

Year Ended 31 December 2022

15. Analysis of net assets between funds

Permanent Unrestricted Unrestricted
Endowment
Income
General
Funds Funds Funds
£
£
£
Fund balances at 31 December 2022
are represented by:
Tangible fixed assets
21,000
(7,749)
739,116
Net current assets
207
245,189
(92,813)
Creditors due after 1 year
-
(38,161)
(440,127)
21,207
199,072
206,176
Analysis of net assets between funds
prior year comparative
Permanent Unrestricted Unrestricted
Endowment
Income
General
Funds Funds Funds
£
£
£
Fund balances at 31 December 2021
are represented by:
Tangible fixed assets
21,000
(4,364)
746,970
Net current assets
207
226,456
(92,813)
Creditors due after 1 year
-
(60,878)
(440,127)
21,207
161,214
214,030		 Total
Funds
£
752,367
152,376
(478,288)
426,455
Total
Funds
£
763,606
133,850
(501,005)
396,451

16. Permanent endowment fund

Under the terms of the Conveyance dated 19 March 1935, as set out in note 1, 7 acres of land known as Broomhills Park represents Permanent Endowment. The income generated from this land has been used to assist in the maintenance and advancement of the Roman Catholic Church.

25

Order of Augustinian Recollects - St.

17. Related Party Transactions

The Order of Augustinian Recollects Charitable Trust and the Order of Augustinian Recollects

At 31 December 2022 the amount owed to The Order of Augustinian Recollects Charitable Trust was £478,288 (2021: £501,005).

26