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2020-08-31-accounts

Company Registration No. 247772 Charity Registration No. 232670

The Community of the Resurrection

(A company limited by guarantee and not having a share capital)

Trustees' Report and Audited Financial Statements

For the year ended 31 August 2020

The Community of the Resurrection

Contents:
Trustees' Annual Report Pages 1 to 12
Independent Auditor's Report Pages 13 to 14
Consolidated Statement of Financial Activities Page 15
Consolidated and Company Balance Sheet Page 16 to 17
Statement of Cash Flows and Consolidated Cash Flows Page 18
Notes to the Financial Statements Pages 19 to 41

The Community of the Resurrection Trustees' Annual Report for the year ended 31 August 2020 (incorporating the Group Directors' Report)

Company Registration No. 247772 Charity Registration No. 232670

The trustees present their annual report together with the consolidated financial statements of the charity and its subsidiaries for the year ended 31 August 2020 which are also prepared to meet the requirements for a group directors' report and accounts for the purposes of the Companies Act 2006.

The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, 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)'.

Company Registration Number: 247772 Charity Registration Number: 232670

Trustees: Father Oswin Philip Gartside CR Father John Gibson Gribben CR Father George Paul Alfred Guiver CR Brother Philip David John Nichols CR Father Thomas Christopher John Seville CR

The above have served as trustees throughout both the year and the comparative year.

Registered Office: The House of the Resurrection Website: www.mirfield.org.uk Stocks Bank Road Mirfield West Yorkshire WF14 0BN Finance Manager: Mrs Adele Hannah Advisers: Bankers CAF Bank 25 Kings Hill Avenue, West Malling, Kent, ME19 4JQ Bankers HSBC plc Market Place, Dewsbury, WF13 1DH Solicitors Wrigleys LLP 19 Cookridge Street, Leeds, LS2 3AG Auditors Forrest Burlinson 20 Owl Lane, Dewsbury, WF12 7RQ Investments Brewin Dolphin Securities 12 Smithfield Street, London, EC1A 9BD Custodian Trustees of a jointly owned investment property: Richard Roberts and Mark Jones Gedye & Sons 15 Old Bailey, London, EC4M 7EF

Introducing the Community of the Resurrection

The Community was founded in 1892, to act as an Association of Christians who desire to follow the Gospel life after the pattern of those recorded in the Acts of the Apostles of whom it is said that: "they continued steadfastly in the Apostles' teaching and in the fellowship, in the breaking of the bread and in the prayers" and "the company of those who believed were of one heart and one soul, and no one said that any of the things which he possessed was his own, but they had everything in common."

Members of the Community of the Resurrection follow a daily routine of prayer and worship. The Community undertakes charitable works at home and overseas, this includes pastoral, evangelistic, literary, educational and other charitable works for the advancement of religion.

Page 1

The Community of the Resurrection Trustees' Annual Report for the year ended 31 August 2020 (incorporating the Group Directors' Report)

Company Registration No. 247772 Charity Registration No. 232670

The Community supports, and has the support of, a group of Oblates who follow a rule of life similar to that of the Community, as well as an Associate and the Society of the Resurrection. The Companions of the Resurrection, an organisation of non-monastic affiliates, continue to have regional gatherings supporting the Community through prayer and fellowship.

Charitable purposes

l the advancement of religion;

l the advancement of religious education;

l the advancement of such other charitable purposes beneficial to the community. The trustees confirm that in considering the activities of the charity and the objectives for the year, they have had regard to the Charity Commission's guidance on public benefit.

Activities and organisations

Our site at Mirfield consists of:

The House of the Resurrection , where the members of the Community live and in which the Retreat House is integral, whereby retreatants and other guests can live and pray alongside the Community.

The Church of the Resurrection , which is the heart of the Community and has recently been restored to create a unique place of worship and pilgrimage.

The College of the Resurrection , which is a theological college, particularly for the formation of candidates for ordination in the Church of England and is unique in being the only theological college in the Anglican Communion that shares its life with a monastic community.

The Mirfield Centre , which is part of the Christian educational work of the Community and offers educational courses, both short and residential, day events and quiet days. The programmes focus on themes of prayer, education, pastoral support and encounter.

There is also a bookshop selling religious books and other titles, including writings by CR brethren.

Brethren, as well as holding responsibilities on site, such as the receiving of guests and visitors, leading individuals and groups on retreat, teaching (both at the College and with the Mirfield Centre), caring for the sick and elderly, also are involved in local ministries and in areas such as interfaith relations and counselling and social care work. Brethren also regularly publish books, pamphlets, prayers and meditations.

The Community has for a long time had involvement with, and many friends in, Southern Africa and continues to support work there through both regular contacts and supporting other charities.

The Community also has strong links with the Romanian Orthodox Church which frequently sends priests, monks and students to Mirfield. We also have many connections with religious communities in Europe and other parts of the world, including a longstanding covenanted relationship with The Community of St. Matthias in Trier.

In 2016 the Community set up a trading subsidiary, Mirfield Monastery Ltd, which undertakes the trading activities of the Community. This is presently on a modest scale and all profits are gifted to the charity.

Page 2

The Community of the Resurrection Trustees' Annual Report for the year ended 31 August 2020 (incorporating the Group Directors' Report)

Company Registration No. 247772 Charity Registration No. 232670

The Frere Educational Trust (the College of the Resurrection)

The Frere Educational Trust is a subsidiary company of the Community, being a company limited by guarantee and not having a share capital. The Trust has one member, the Community of the Resurrection. The principal activity of the Trust is the work of the College of the Resurrection, which is committed to theological education and, particularly, the formation of candidates for ordination in the Church of England.

Co-operation with other organisations

During the period the Community worked and enjoyed links with many organisations including:

Impact of the outbreak of Covid-19 on the Community of the Resurrection

Covid-19 struck half way through the financial year with the pandemic having a profound impact on many areas including our public programme - retreats, day courses and individual guest stays. We were unable to welcome guests to the site for Holy Week and the restrictions greatly reduced the brethren's ability physically to go beyond Mirfield to preach. We did however use this opportunity to engage with the outside world in different ways - introducing live streaming of services and a YouTube talk series. As footfall was reduced, so too was income from the bookshop on site. We improved and promoted our online store to increase sales in the second half of the year.

Most of the weddings, family occasions and commercial activities that were booked for the period were cancelled or postponed to later dates. To date the Community has been able to protect the employment of staff on site through assistance from the government's Coronavirus Job Retention Scheme and natural reductions in some teams through retirement.

The Covid-19 pandemic necessitated the closure of the College before Easter 2020 until September. Staff and students quickly learned how to operate in diaspora via Zoom. Visits to College by prospective students became impossible, though some students, who remained on site, were able to offer video-tours whilst others made themselves available for conversation and discussion with prospective students.

Achievements and performance

During the first half of this year (before the outbreak of Covid-19), the Community of the Resurrection has:

Page 3

The Community of the Resurrection Trustees' Annual Report for the year ended 31 August 2020 (incorporating the Group Directors' Report)

Company Registration No. 247772 Charity Registration No. 232670

Throughout the full financial year, the Community of the Resurrection has:

Page 4

The Community of the Resurrection Trustees' Annual Report for the year ended 31 August 2020 (incorporating the Group Directors' Report)

Company Registration No. 247772 Charity Registration No. 232670

Financial Review

Group

The group accounts show a surplus for the year, before gains and losses on investments are taken into account, of £65,000 (2019: surplus £286,000).

The net shortfall on unrestricted funds was £163,000 (2019: surplus £95,000).

Net income from restricted funds was £228,000 (2019:net income £191,000).

Net losses from investments, including a revaluation of investment property, were £299,000 (£298,000 unrestricted losses and £1,000 restricted losses). (2019: £453,000 gains).

Group income received in the year was made up of the following:

----- Start of picture text -----
Site rents
4%
Donations, grants
and legacies
29%
College income
30%
Brethren's income
(pensions,etc.)
Bookshop sales &
13%
royalties
1%
Other religious education
Investment income
1%
15%
Conferences and events
Retreats 2%
4%
----- End of picture text -----

The Community of the Resurrection Trustees' Annual Report for the year ended 31 August 2020 (incorporating the Group Directors' Report)

Company Registration No. 247772 Charity Registration No. 232670

And the group expenditure can be categorised as:

----- Start of picture text -----
Catering Raising funds
9% 4% Brethren spending
Admin and
4%
governance
9%
Grants made Property costs
1% 23%
Events spending
2%
Other religious
College costs
activities
37% Investment
sd 3%
Shop management
1% 7%
----- End of picture text -----

The Community of the Resurrection (parent charity)

Total income for the year was £1,498,000 and expenditure £1,305,000, a surplus, before gains and losses on investments of £193,000. (2019: £299,919).

Investment losses, including a devaluation of investment property, for the parent charity were £369,501 (2019: £489,000 gains).

On restricted funds: we have continued to send assistance to Zimbabwe, through the Zimbabwe Fund, donations received in the year were £3,303 and expenditure from the fund £1,200.

The CR Future Fund aims to raise funds for the future of the Community in Mirfield, in particular making improvements and alterations to the House of the Resurrection.

The CR Future Fund raised a further £234,579 in the year and plans continue to be commissioned.

Mirfield Monastery Ltd

This wholly owned trading company, which organises weddings and conferences on site, generated income of £13,024. This activity has obviously been severely affected by the Covid-19 pandemic in 2020. All profits go the Community of the Resurrection in accordance with the tax rules for charity trading. No member of the Community, or CR management receives any remuneration from this company.

The Frere Educational Trust (the College of the Resurrection)

Students numbers for the 2019/20 academic year were: full-time 28; part-time 1 (2018/19: 25 and 5). Total income for the year was £593,487 (2019: £577,134) and expenditure increased to £634,149 (2019: £625,873).

The Frere Educational Trust's main source of income is from maintenance and tuition fees paid by the National Ministry Team of the Archbishops' Council and by dioceses for the education, formation and training of ordinands. This income was £463,892 in the year (2019: £440,956) and is directly driven by student numbers. In addition income from provision of housing, receipts from guests and various reimbursements was £66,635 (2019: £79,664).

Page 6

The Community of the Resurrection Trustees' Annual Report for the year ended 31 August 2020 (incorporating the Group Directors' Report)

Company Registration No. 247772 Charity Registration No. 232670

The Frere Educational Trust received donations in the year of £4,561 (2019: £7,215), and legacies of £10,000 (2019: £570).

An annual grant is made from The Frere Fund of The Community of the Resurrection at the discretion of The Community trustees, this year the grant was £40,949 (2019: £27,721).

The General Reserves of The Frere Educational Trust were £176,270 as at 31 August 2020, this is after allowing for estimated potential liabilities arising on multi-employer defined pension schemes and represents 8 weeks expenditure out of the 30 week term time, and 14 weeks of annual average expenditure. The Frere Educational Trust trustees consider 20 weeks of annual average expenditure to be a reasonable minimum level of reserves required and are putting plans in place once the current national crisis is over to address this shortfall, including a renewed fundraising campaign.

Investment powers, policy and performance

The trustees have powers under the Articles to invest surplus funds and to invest and dispose of capital. Where legacies or other incomings have a restricted purpose (or endowment) these funds are held in separate investment portfolios and the income and capital treated according to the wishes of the legator, or restriction on the fund.

We are conscious of the liquidity requirements of operating the Mirfield site which remains challenging as the buildings get older and more and more people interact with the Community on the site in different ways, for which we are of course thankful.

Thus our investment strategy has to achieve both a need to generate income returns, safeguard capital and have sufficient flexibility to meet both planned and unexpected needs for cash. This we do in

conjunction with our investments advisers at Brewin Dolphin. The trustees with the advisers undertake an annual review of the investment strategy and risk, in addition to receiving updates on performance on a quarterly basis.

Realised investment gains on disposals from group investment portfolios were £44,000 (2019: £237,000). Movements on the investment portfolios meant unrealised losses for the year of £72,501 (2019: £119,000 losses).

In 2015 the Community was joint beneficiary to an estate that consisted of an investment property. The property was valued as at 31 August 2020 by a qualified professional valuer, and the movement on the unrealised gain on probate value of the Community's half share was a loss of £270,000, (2019: a gain of £335,000).

Reserves policy

Reserves are needed both to bridge the gap that appears between the income the charity receives and its expenditure; the fact that the charity is dependent on a number of non-recurring sources of income such as donations and legacies; the need to address unplanned emergency repairs; what can be significant planned repairs to buildings; and for future plans which will involve substantial capital expenditure and the need for contingencies.

The policy is therefore to maintain the capital of each fund in order to generate income which is used to support the purposes of the Community and to safeguard funds that have been generously donated to the Community by way of legacy in order that they may help contribute to the future of the Community.

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The Community of the Resurrection Trustees' Annual Report for the year ended 31 August 2020 (incorporating the Group Directors' Report)

Company Registration No. 247772 Charity Registration No. 232670

Summary of group reserves held as at 31 August 2020:

General Reserves
Designated Funds:
Funds that can only be realised by disposing of tangible fixed assets
Other funds designated by the trustees for specific purposes
Restricted Funds:
The Archdeacon Goodman Fund
The Zimbabwe Fund
The Church Appeal Fund
The CR Future Campaign
Artists in Residence Fund
Permanent Endowment Fund: The Archdeacon Goodman Bequest Fund
Total funds held at the end of the period:		 £000
£000
6,179
8,404
424
8,828
15
9
37
564
4
629
48
15,684

Details of all these funds and further breakdowns are given in the notes to the financial statements.

Grant making policy

The Community has both restricted and designated funds and receives requests for charitable donations, as well as individual brethren suggesting projects or organisations worthy of and needing financial support. Projects and organisations are considered on their merits and in the context of the Community's charitable purposes and whether they meet the criteria of the available funds, which are detailed in the accounts.

Plans for the future

Many of the monastic community's activities continue year on year so - whilst always looking for additional ways to fulfil our charitable purposes - we endeavour to maintain continuity and deliver existing activities well. Recognition is also given to the ongoing impact of Covid-19 and the uncertainty this gives.

Specific plans for this period include:

Page 8

The Community of the Resurrection Trustees' Annual Report for the year ended 31 August 2020 (incorporating the Group Directors' Report)

Company Registration No. 247772 Charity Registration No. 232670

Structure, Governance and Management

The Community of the Resurrection being a charitable company limited by guarantee and not having a share capital is governed by its Memorandum and Articles of Association. Each member of the charitable company undertakes to contribute towards the costs of dissolution and the liabilities incurred by the company whilst a member, this contribution is limited to £1 per member.

The directors of the charitable company are its trustees for the purpose of charity law and throughout this report are referred to as the trustees. The trustees have control of the charitable company and its property and funds.

The trustees named on page 1 have served throughout the year except where indicated. The Community is administered by the trustees, who meet on a monthly basis to consider all matters in accordance with the Community's objectives and policies. A committee system is in operation to oversee particular aspects of the Community's operations, subject to the approval of the trustees and Chapter.

Trustee appointment, induction and training

The Community recognises that it has a responsibility to provide guidance and assist new trustees in fulfilling their duties and responsibilities, this is done in accordance with Charity Commission guidance.

New trustees are elected from the Community's members who have sufficient experience, they are then given appropriate Charity Commission publications.

Financial control and scrutiny

Each year two of the Community's brethren are elected as Scrutineers. In this role they analyse the accounts and produce a report of their findings presented to members at the Annual General Meeting.

The Community is also subject to a quinquennial visitation by the Community Visitor, a Church of England Bishop, this results in a report covering all aspects of the Community's activities, including financial procedures. As well as having professional advisers in finance, building and maintenance services, legal and employment matters, the Community receives updates from Church bodies and by virtue of membership of the Association of Provincial Bursars.

The Community has a Financial Advisory Committee which meets regularly and includes the Community's investment adviser as well as trustees, senior staff and finance professionals.

Page 9

The Community of the Resurrection Trustees' Annual Report for the year ended 31 August 2020 (incorporating the Group Directors' Report)

Company Registration No. 247772 Charity Registration No. 232670

Brothers' capital and income

When brethren join the Community, the capital which they possess may be invested on their behalf by the Community's stockbrokers. Any such capital is invested in the name of the Brother. Income from these investments is given by the brethren to the Community.

Staffing and pay policy for senior staff

A significant proportion of the running of the Community is performed by the trustees and other brethren who do not receive any remuneration. The Community has structures in place that involve employees at all levels and consults regularly on staff issues. The pay of senior staff is reviewed annually in January.

Risk management

The trustees have given consideration to the major risks to which the charity is exposed and satisfied themselves that systems or procedures are established in order to manage those risks.

Consideration includes but is not limited to:

Safeguarding

The Community is committed to safeguarding and promoting the welfare of children, young people and vulnerable adults. To fulfil this commitment, a number of safeguarding arrangements are in place. The Community has two safeguarding officers who provide support and training so that all staff and volunteers know about and follow the policies and procedures in place. All eligible staff and volunteers are required to undertake relevant safeguarding training and this is regularly reviewed by the Safeguarding Officers.

All policies and procedures in respect of safeguarding children, young people and vulnerable adults are up to date and in line The Church of England's Guidelines - Promoting a Safer Church.

Safeguarding is a standing agenda item for meetings of the Trustees, with a full policy review undertaken annually in conjunction with expert external advisors.

Page 10

The Community of the Resurrection Trustees' Annual Report for the year ended 31 August 2020 (incorporating the Group Directors' Report)

Company Registration No. 247772 Charity Registration No. 232670

Fundraising

The Community understands its duty to protect the public, including vulnerable people, from unreasonably intrusive or persistent fundraising approaches and undue pressure to donate. Our small fundraising team uses a CRM database to manage campaigns and marketing, this ensures they can record communications and marketing preferences, which protects donors and potential donors from unwanted contact.

The Community does not use any third party fundraising organisations to carry out fundraising activities. We are registered with The Fundraising Preference Service, and have not received any complaints during the year.

Trustees' responsibilities in relation to the financial statements

The trustees (who are also directors of the Community of the Resurrection for the purposes of company law) are responsible for preparing the Trustees' Annual Report (incorporating the Group Directors' Report) and the financial statements in accordance with applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and the group, and of the income and expenditure, of the charitable group 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 the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006, the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Articles of Association.

They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Audit

The group financial statements are subject to audit under the Charities Act 2011. The trustees have opted to exercise the exemption granted by section 477 and section 479(1) of the Companies Act 2006 for small groups not to be audited under the Companies Act 2006. There is no difference between the quality of audit required between the two Acts.

Page 11

The Community of the Resurrection Trustees' Annual Report for the year ended 31 August 2020 (incorporating the Group Directors' Report)

Company Registration No. 247772 Charity Registration No. 232670

Statement of disclosure to the auditors

In the case of each of the persons who are trustees at the time when this report is approved, the following applies:

Approval

These accounts are prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.

This report for the financial year ended 31 August 2020 was approved by the trustees on 22 February 2021 and signed on their behalf by:

……………………………………………

Fr. Oswin Philip Gartside CR Trustee/Director

The Community of the Resurrection

Page 12

The Community of the Resurrection Independent Auditor's Report to the Members of The Community of the Resurrection

Company Registration No. 247772 Charity Registration No. 232670

Opinion

We have audited the financial statements of The Community of the Resurrection for the year ended 31 August 2020. which comprise the Group Statement of Financial Activities, the Group Balance Sheet, (incorporating the Charitable Company Balance Sheet), the Statement of Cash Flows and Consolidated Statement of Cash Flows, and the related notes. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard and the provisions available for small entities, in the circumstances set out in note 32 to the financial statements, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Emphasis of matter - Impact of the outbreak of Covid-19 on the financial statements

In forming our opinion on the Charity's financial statements, which is not modified, we draw your attention to the trustees' view on the impact of Covid-19 as disclosed on page 3, the consideration given in the going concern basis of preparation on page 20 and non-adjusting post balance sheet events on page 41. The global pandemic which became significant in March 2020 is causing widespread disruption to normal patterns of business activity across the world, including the UK.

The full impact following the recent emergence of Covid-19 is still unknown. It is therefore not currently possible to evaluate all the potential implications to the Charity's operations, beneficiaries and wider economy.

Conclusions relating to going concern

We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report

to you where:

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Trustees' Annual Report (incorporating the Group Directors' Report). Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Page 13

The Community of the Resurrection Independent Auditor's Report to the Members of The Community of the Resurrection

Company Registration No. 247772 Charity Registration No. 232670

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the Group and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' Annual Report (incorporating the Group Directors' Report).

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:

Responsibilites of the trustees

As explained more fully in the Statement of Trustees Responsibilities (set out in the Trustees Annual Report), the trustees (who are also the directors of the charitable company for the purposes of company law), are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for

such internal control as they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees' are responsible for assessing the Charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the Group or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

The trustees have elected for the financial statements to be audited in accordance with the Charities Act 2011 rather than the Companies Act 2006. Accordingly, we have been appointed as auditor under section 151 of the Charities Act 2011 and report in accordance with regulations made under section 154 of that Act. Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from

material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial the basis of the financial statements.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the members of The Community of the Resurrection, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's members as a body, for our audit work, for this report, or for the opinions we have formed.

25 February 2021

Forrest Burlinson, Statutory Auditor Forrest Burlinson is eligible for appointment as auditor of the Charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

20 Owl Lane Dewsbury WF12 7RQ

Page 14

The Community of the Resurrection Consolidated Statement of Financial Activities (including consolidated income and expenditure account) for year ending 31 August 2020

Company Registration No. 247772 Charity Registration No. 232670

----- Start of picture text -----
Unrestricted Restricted Endowment Total Total
funds funds funds funds funds
Note 2020 2019
£'000 £'000 £'000 £'000 £'000
Income:
Donations and legacies 4 496 244 -- 740 843
Charitable activities:
Carrying out religious activities 5 705 -- -- 705 801
Other trading activities:
Commercial trading 6 37 -- -- 37 142
Investments 7 266 1 -- 267 290
Total income 1,504 245 -- 1,749 2,076
Expenditure:
Costs of raising funds:
Fundraising costs 70 -- -- 70 92
Investment management fees 8 128 -- -- 128 75
Commercial trading 9 45 -- -- 45 72
243 -- -- 243 239
Charitable activities:
Operating theological college 10 620 -- -- 620 607
Religious activities 11 794 15 -- 809 930
Grants made 12 10 2 -- 12 14
1,424 17 -- 1,441 1,551
Total expenditure 1,667 17 -- 1,684 1,790
Net income/(expenditure) and net
movements in funds before gains
and losses on investments (163) 228 -- 65 286
Net gains/(losses) on investments 13 (298) (1) -- (299) 453
Net income/(expenditure) (461) 227 -- (234) 739
Transfers between funds -- -- -- -- --
Net income/(expenditure) and net
movement in funds for the year (461) 227 -- (234) 739
Reconciliation of funds
Total funds brought forward 15,468 402 48 15,918 15,179
Total funds carried forward 15,007 629 48 15,684 15,918
----- End of picture text -----

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derives from continuing activities.

Page 15

The Community of the Resurrection Consolidated and Company Balance Sheet as at 31 August 2020

Company Registration No. 247772 Charity Registration No. 232670

----- Start of picture text -----
Group Group Charity Charity
Note 2020 2019 2020 2019
Fixed assets £'000 £'000 £'000 £'000
Intangible assets 18 1 2 -- --
Tangible assets 19 4,969 4,638 4,969 4,638
Investment properties 20 3,645 3,915 3,645 3,915
Investments 21 6,215 6,654 6,011 6,475
Total fixed assets 14,830 15,209 14,625 15,028
Current assets
Stocks 15 16 15 16
Debtors 22 77 241 89 256
Cash at bank and in hand 1,096 895 1,046 704
Total current assets 1,188 1,152 1,150 976
Liabilities:
Creditors falling due within one year 23 (153) (181) (112) (134)
Net current assets 1,035 971 1,038 842
Total assets less current liabilities 15,865 16,180 15,663 15,870
Provisions for liabilities 24 (154) (165) (154) (165)
Liability arising on multi-employer
defined benefit pension scheme 17 (27) (97) -- (19)
Total net assets 15,684 15,918 15,509 15,686
The funds of the charity: 25,26
Endowment funds 48 48 48 48
Restricted funds 629 402 629 402
Unrestricted funds 14,868 15,059 14,693 14,827
Revaluation reserve 139 409 139 409
15,007 15,468 14,832 15,236
Total charity funds 15,684 15,918 15,509 15,686
----- End of picture text -----

The notes on pages 19 to 41 form part of these accounts.

The trustees have prepared group accounts in accordance with section 398 of the Companies Act 2006 and section 138 of the Charities Act 2011. These accounts are prepared in accordance with the special provisions of the Companies Act relating to small companies and constitute the annual accounts required by the Companies Act 2006 and are for circulation to the members of the charitable company.

Page 16

The Community of the Resurrection Consolidated and Company Balance Sheet as at 31 August 2020

Company Registration No. 247772 Charity Registration No. 232670

These accounts have been audited in accordance with the Charities Act 2011.

For the financial years ended 31 August 2019 and 2020 the group was entitled to exemption from audit under sections 477 and 479(1) of the Companies Act 2006 relating to small groups.

Directors' responsibilities:

For the avoidance of doubt these accounts have been audited in accordance with the Charities Act 2011.

The financial statements were approved by the trustees on 22 February 2021 and signed on their behalf by:

…………………………………………… …………………………………………… Fr. Oswin Philip Gartside CR Br. Philip David John Nichols CR Trustee/Director Trustee/Director The Community of the Resurrection The Community of the Resurrection

Br. Philip David John Nichols CR Trustee/Director The Community of the Resurrection

Page 17

The Community of the Resurrection Statement of Cash Flows and Consolidated Statement of Cash Flows for year ending 31 August 2020

Company Registration No. 247772 Charity Registration No. 232670

----- Start of picture text -----
Group Group Charity Charity
Note 2020 2019 2020 2019
£'000 £'000 £'000 £'000
Cash flows from operating activities:
Net income/(expenditure) for the year (234) 739 (177) 789
Add back amortisation charge 1 1 -- --
Add back depreciation charge 126 124 126 124
(Gains)/losses on investments 299 (453) 370 (489)
Investment income (267) (290) (260) (283)
Decrease (increase) in stock 1 (1) 1 (1)
Decrease (increase) in debtors 164 (164) 167 (192)
Increase (decrease) in creditors (28) (37) (22) (12)
Increase (decrease) in pensions liability (81) 1 (30) (13)
Net cash provided by (used in)
operating activities (19) (80) 175 (77)
Cash flows from investing activities:
Dividends, interest and rents from investments 267 290 260 283
Purchase of/additions to property (457) (450) (457) (450)
Proceeds from sale of investments 1,089 2,214 1,029 2,193
Purchase of investments (679) (1,743) (665) (1,725)
Net cash provided by (used in)
investing activities 220 311 167 301
Change in cash and cash equivalents in the
reporting period 201 231 342 224
Cash and cash equivalents at the beginning 895 664 704 480
of the reporting period
Cash and cash equivalents at the end
of the reporting period 1,096 895 1,046 704
----- End of picture text -----

Page 18

The Community of the Resurrection Notes to the group financial statements for the year ended 31 August 2020

Company Registration No. 247772 Charity Registration No. 232670

1 Legal status

The charity is a public benefit entity as defined by FRS 102.

The charity is a company limited by guarantee, registered in England and having no share capital. The company registration number is 247772.

The members of the charity are the members of the Chapter of the Community of the Resurrection, which is open to every brother in life profession worldwide interested in promoting the Objects of the Community who meets the requirements for membership as laid down in the Articles of Association of the Community of the Resurrection. The trustees of the charity are as listed in the Trustees Annual Report.

In the event of the Charity being wound up, the liability in respect of the guarantee is limited to £1 per member.

The charity's registered office is: The House of the Resurrection, Stocks Bank Road, Mirfield, WF14 0BN.

2 Accounting Policies

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

2.1 Accounting convention

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)' - the Charities SORP (FRS 102); the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), the Companies Act 2006, the Charities Act 2011 and relevant accounting regulations.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest thousand (£000), or £ where indicated.

The financial statements have been prepared under the historical cost convention, modified to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

2.2 Group financial statements and Companies Act 2006 exemptions

The financial statements consolidate the results of the charity and its wholly owned subsidiaries the Frere Educational Trust and Mirfield Monastery Limited on a line-by-line basis. A separate Statement of Financial Activities and income and expenditure account for the charity has not been presented because the charity has taken advantage of the exemption afforded by section 408 of the Companies Act 2006 (the Act).

The accounts of the Frere Educational Trust are independently audited. The accounts of Mirfield Monastery Limited have not been audited, the company being entitled to exemption from audit under section 477 of the Act relating to small companies and the member of the company (the Community of the Resurrection), having not required the company to obtain an audit in accordance with section 476 of the Act.

The acquisition method of accounting has been adopted in preparing these consolidated financial statements. Under this method the results of subsidiary undertakings acquired or disposed of in the year are included from the date of acquisition or up to the date of disposal, on a line by line basis.

As the group does not trade for profit, the trustees have taken advantage of section 474(2) of the Act and have prepared an income and expenditure account (which is incorporated into the Statement of Financial Activities) instead of a profit and loss account.

Page 19

The Community of the Resurrection Notes to the group financial statements for the year ended 31 August 2020

Company Registration No. 247772 Charity Registration No. 232670

2.3 Fund accounting

Unrestricted funds are available for use at the discretion of the trustees in furtherance of the purposes of the charity. Designated funds comprise unrestricted funds that have been set aside by the trustees at their discretion to use for a particular purpose. The aim and use of each designated fund is set out later in these notes. Restricted funds are subject to specific restrictions, which the donor, legatee, or other third party has specified are to be solely used for particular areas of the charity's work or for specific projects undertaken by the charity. The charity has one permanent endowment fund, this type of fund is subject to the assets being invested and retained rather than expended, the use of the income from this endowment is restricted (see later in these notes).

2.4 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

2.5 Income

The following specific policies apply to categories of income:

Income from grants, whether capital grants or revenue grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

Donation of services: are included at the value to the charity where this can be quantified. Donated goods: these are recognised as income only when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity is probable and that economic benefit can be measured reliably.

In accordance with the Charities SORP (FRS 102) the economic contribution of volunteers' time is not measured in the accounts.

Legacies: entitlement is the earlier of the date on which the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) that a distribution to the charity will be made, or when a distribution is received. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material in the notes to the accounts.

Income received in advance of the provision of a service or entitlement is deferred until the criteria for income recognition are met and disclosed if material in the notes to the accounts.

Interest and investment returns: are recognised when receivable and the amount can be measured reliably, this is normally upon notification by the payer.

Page 20

The Community of the Resurrection Notes to the group financial statements for the year ended 31 August 2020

Company Registration No. 247772 Charity Registration No. 232670

2.6 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.

Expenditure is classified under the following headings:

Costs of raising funds which comprise the costs associated with attracting voluntary income, the costs of commercial trading and their associated costs.

Expenditure on charitable activities includes the costs of operating the site at Mirfield, the costs of making grants, educational activities and supporting brethren who, as well as being members, are also beneficiaries of the charity.

Any grants made by the charity are accounted for when there is a present obligation as a result of approval and notification to a third party. In practice this will usually be at the same time or only shortly before the grant is paid.

Whilst the charity is registered for VAT, many of the activities undertaken are such that irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred, otherwise expenditure has been shown after the recovery of VAT input tax. All income is shown on the accounts exclusive of VAT.

2.7 Allocation of support costs

Support costs assist the work of the charity but do not directly attribute to charitable activities. These include back office costs such as general administration, bursary costs, finance costs, IT and governance costs. These costs have been allocated between the cost of raising funds and expenditure on charitable activities in accordance with the bases set out in note 14.

2.8 Operating leases

The leasing of some equipment is classified as operating leases, the title to the equipment remains with the lessor and is periodically replaced, these periods fall significantly short of the economic life of the equipment. Rents are therefore accounted for as expenditure on a straight line basis over the term of the lease.

2.9 Taxation

No corporation tax has been provided in these accounts because the trustees believe that the income and gains of the charity are within the exemptions granted by Chapters 2 and 3 of the Corporation Taxes Act 2010.

2.10 Tangible fixed assets and depreciation

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases, except freehold land (which is not depreciated):

Freehold buildings over 50 years, straight line on cost Long leasehold buildings over 50 years, straight line on cost less estimated residual value of the lease Fixtures and fittings over between 4 and 20 years, straight line on cost

Page 21

The Community of the Resurrection Notes to the group financial statements for the year ended 31 August 2020

Company Registration No. 247772 Charity Registration No. 232670

Some of the Community's buildings have been owned for over 100 years and are used exclusively to enable the objectives of the charity to be achieved. These buildings will have been fully depreciated at cost in accordance with earlier policies on depreciation and so will not have a cost attributed in these accounts. More recent expenditure on buildings is included and depreciated in accordance with the above policy. The original probate value of land at Mirfield after over 100 years will have an historic cost that today will be negligible.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to the Statement of Financial Activities.

2.11 Website development costs

Some website development costs have been capitalised to the extent that they will lead to an enduring asset providing benefits over a period of five years. The costs, which have been incurred by Mirfield Monastery Ltd, and are thus included under commercial trading expenditure, are amortised on a straight line basis over five years, subject to providing for any impairment that may require a lower carrying amount.

2.12 Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost, or probate value, and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in the Statement of Financial Activities.

2.13 Fixed asset investments

Investments are initially recognised at their transaction value and subsequently measured at fair value as at the balance sheet date using the closing quoted market price. The Statement of Financial Activities (income and expenditure account) includes the net gains and losses arising on revaluation and disposals throughout the year. The charity does not use complex financial instruments, as defined under the Charity SORP (FRS 102).

2.14 Stock

Stocks are stated at the lower of cost and estimated selling price, less costs to sell. Donated items of stock, if over £1,000 in value, are recognised on receipt at fair value which is the amount the charity would expect to pay for the items on an open market.

2.15 Debtors

Trade and other debtors are recognised at the settlement amount due after any discount. Prepayments are the amount of expenditure prepaid as at the period end after taking account of any discount. Legacies not yet received are legacies accounted for in accordance with the above recognition policy where the expected amount that can be measured reliably has not been received at the period end.

2.16 Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation as a result of a past transaction or event that will probably result in the transfer of funds and the amount due to settle the obligation can be measured or estimated reliably, these are recognised after any discount due.

2.17 Financial instruments

Financial instruments are recognised in the group and the charity's balance sheets when the charity, or one of its subsidiaries, becomes party to the contractual provisions of the instrument.

Page 22

The Community of the Resurrection Notes to the group financial statements for the year ended 31 August 2020

Company Registration No. 247772 Charity Registration No. 232670

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

The charity has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Being a company limited by guarantee, the charity has no equity instruments. Basic financial liabilities, including creditors, bank loans and loans from fellow group companies, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

2.18 Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets. The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2.19 Pensions

The Group and the charity operate two pension schemes, one for stipendiary staff (CEFPS) and one for other academic and lay staff (CWPF), each scheme as been accounted for in these accounts as follows:

The Frere Educational Trust participates in the Church of England Funded Pensions Scheme (CEFPS) for stipendary clergy. This scheme is administered by the Church of England Pensions Board, which holds the assets of the scheme seperately from those of the Responsible Bodies.

Each participating Responsible Body in the scheme pays contributions at a common contribution rate applied to pensionable stipends. The scheme is considered to be a multi-employer scheme as described in Section 28 of FRS 102. This means it is not possible to attribute the scheme's assets and liabilities to each specific Responsible Body, and this means contributions are accounted for as if the scheme were a defined contribution scheme. The pension costs charged to the SoFA in the year are contributions payable towards benefits and expenses accrued in that year, plus the figures highlighted in the table in note 17).

Both the Community and The Frere Educational Trust also participate in the Pension Builder section of the Church Workers Pension Fund (CWPF). The scheme is administered by the Church of England Pensions Board, which holds the assets of the schemes seperately from those of the employer and other participating employers.

Page 23

The Community of the Resurrection Notes to the group financial statements for the year ended 31 August 2020

Company Registration No. 247772 Charity Registration No. 232670

The Church Workers Pension Fund has a section known as the Defined Benefits Scheme, a deferred annuity section known as Pension Builder Classic and a cash balance section known as Pension Builder 2014, both of which are classed as defined benefit schemes.

Pension Builder Classic provides a pension for members from retirement, accumulated from contributions paid and converted into a deferred annuity during employment based on terms set and reviewed by the Church of England Pensions Board from time to time. Bonuses may also be declared, depending upon the investment returns and other factors.

Pension Builder 2014 is a cash balance scheme that provides a lump sum that members use to provide benefits at retirement. Pension contributions are recorded in an account for each member. This account may have bonuses added by the Board before retirement. The bonuses depend on investment experience and other factors. There is no requirement for the Board to grant any bonuses. The account, plus any bonuses declared, is payable from members' Normal Pension Age.

There is no sub-division of assets between employers in each section of the Pension Builder Scheme. The scheme is considered to be a multi-employer scheme as described in Section 28 of FRS 102. This is because it is not possible to attribute the Pension Builder Scheme's assets and liabilities to specific employers and that contributions are accounted for as if the scheme were a defined contribution scheme (see note 17).

In addition, The Community also operates discretionary pensions for certain of its past employees. Such pensions are non contributory. A provision has been made in the accounts to cover future pension obligations. In the event of this fund being insufficient to meet such obligations amounts would be made available from other funds to cover any liabilities. The costs of pensions made in this way in the year are disclosed within the employees costs in note 16.

3 Consolidation and financial performance of the charity

The consolidated statement of financial activities includes the results of the charity's wholly owned subsidiaries which consist of:

The Frere Educational Trust (company no. 00246351, registered charity no. 529320 )

Income
Expenditure on charitable activities
Net gains/(losses) on investment assets
Net movement in funds
Total Net Assets as at 31 August:		 Total
2020
£000
593
(634)
(41)
(15)
(56)
176		 Total
2019
£000
577
(626)
(49)
(1)
(50)
232

Page 24

The Community of the Resurrection Notes to the group financial statements for the year ended 31 August 2020

Company Registration No. 247772 Charity Registration No. 232670

Mirfield Monastery Limited (company no. 08516812)

Income
Expenditure
Gift aid to parent charity company
Net income
Total Net Assets as at 31 August:
The summary financial performance of the charity alone is:
Income
Gift aid from subsidiary company
Expenditure on raising funds
Expenditure on charitable activities
Net incoming resources
Net gains/(losses) on investments
Total funds brought forward
Total funds carried forward
Represented by:
Permanent endowment funds
Restricted income funds
Unrestricted income funds		 Total
2020
£000
13
(5)
(94)
(86)
--
Total
2020
£000
1,404
94
(239)
(1,066)
193
(370)
15,686
15,509
48
629
14,832
15,509		 Total
2019
£000
105
(11)
(59)
35
85
Total
2019
£000
1,633
59
(228)
(1,164)
300
489
14,897
15,686
48
402
15,236
15,686
Donations
Legacies
Brethren's pensions and investments
Grants received		 Unrestricted
Restricted
Total
Total
Funds
Funds
2020
2019
£000
£000
£000
£000
43
244
287
251
134
--
134
346
232
--
232
232
87
--
87
14
496
244
740
843

4 Income from donations and legacies

Page 25

The Community of the Resurrection Notes to the group financial statements for the year ended 31 August 2020

Company Registration No. 247772 Charity Registration No. 232670

The Community has claimed £87,272 under the Government's Coronavirus Job Retention Scheme. The grant received of £13,500 in 2019 was received by The Frere Educational Trust from The Henry Smith Charity in relation to students taking studies for a one year MA at the College of the Resurrection.

5
Income from charitable activities
Operation of theological college
Retreats
Rental income
Accommodation and conferences
Supply of adult religious education
Royalties on hymns and books
Carrying out other religious activities
6
Income from other trading activities
Sale of religious literature
Weddings and similar events
Commercial accommodation
7
Investment income
Income from investment portfolio
Income from investment properties
8
Investment management costs
Investment portfolio management
Investment property management
9
Costs of commercial trading
note
Sale of religious literature
Weddings and similar events
Commercial accommodation
Support costs
14		 Unrestricted
Restricted
Total
Total
Funds
Funds
2020
2019
£000
£000
£000
£000
525
--
525
520
78
--
78
138
72
--
72
91
8
--
8
18
11
--
11
16
1
--
1
2
10
--
10
16
705
--
705
801
Unrestricted
Restricted
Total
Total
Funds
Funds
2020
2019
£000
£000
£000
£000
14
--
14
22
14
--
14
108
9
--
9
12
37
--
37
142
Unrestricted
Restricted
Total
Total
Funds
Funds
2020
2019
£000
£000
£000
£000
142
1
143
176
124
--
124
114
266
1
267
290
Unrestricted
Restricted
Total
Total
Funds
Funds
2020
2019
£000
£000
£000
£000
38
--
38
38
90
--
90
37
128
--
128
75
Unrestricted
Restricted
Total
Total
Funds
Funds
2020
2019
£000
£000
£000
£000
13
--
13
16
8
--
8
34
4
--
4
4
20
--
20
18
45
--
45
72

Page 26

The Community of the Resurrection Notes to the group financial statements for the year ended 31 August 2020

Company Registration No. 247772 Charity Registration No. 232670

----- Start of picture text -----
10 Operating theological college Unrestricted Restricted Total Total
note Funds Funds 2020 2019
£000 £000 £000 £000
College staff costs 255 -- 255 256
Maintenance and utilities 103 -- 103 94
Other operating costs 166 -- 166 161
Support costs 14 96 -- 96 96
620 -- 620 607
11 Costs of religious activities
Unrestricted Restricted Total Total
note Funds Funds 2020 2019
£000 £000 £000 £000
Operating monastic site 365 15 380 386
Brethren's expenditure 38 -- 38 39
Retreats 5 -- 5 6
Supply of adult religious education -- -- -- 23
Carrying out other religious activities 52 -- 52 59
Infirmary costs 26 -- 26 56
Support costs 14 308 -- 308 361
794 15 809 930
12 Grants made Unrestricted Restricted Total Total
note Funds Funds 2020 2019
£000 £000 £000 £000
Goodman Fund 27 -- 1 1 --
Zimbabwe Fund 27 -- 1 1 8
Charitable donations from General Fund 10 -- 10 6
10 2 12 14
Donations to charities from the General Fund consist of the following payments:
Charity Commission Total Total
for England and Wales 2020 2019
charity reg no. £ £
Huddersfield Mission 1156590 1,000 1,000
Church Urban Fund 297483 - 1,000
The Anglican Consultative Council 1137273 - 3,000
Anglican Alliance 1151992 - 100
Britain Yearly Meeting of Religious Society 1127633 - 1,000
National Emergencies Trust 1182809 4,000 -
CZR Sisters in Zimbabwe - 2,700 -
- -
Companions of St. Benedict in Cameroon 1,000
Ecumenical Accompaniment Programme
- -
in Palestine and Israel (EAPPI) 1,000
Total 9,700 6,100
----- End of picture text -----

Page 27

The Community of the Resurrection Notes to the group financial statements for the year ended 31 August 2020

Company Registration No. 247772 Charity Registration No. 232670

13 Net gains/(losses) on investments

Unrestricted Restricted Endowment Total Total
Funds Funds Funds 2020 2019
£000 £000 £000 £000 £000
Net unrealised gain on revaluation
of investment property (270) -- -- (270) 335
Net realised gain/(loss) on…
sale of investments 45 -- (1) 44 237
Net unrealised gain/(loss) on…
investment portfolio (73) (1) 1 (73) (119)
14 Support costs
Type:
Catering
Office and administration costs
IT costs
Governance costs		 (298)
Unrestricted
Funds
£000
258
145
19
17		 (1)
Restricted
Funds
£000
--
--
--
--		 --
Endowment
Funds
£000
--
--
--
--		 (299)
Total
2020
£000
258
145
19
17		 453
Total
2019
£000
319
136
21
14
catering
Activity:
£000
Fundraising
--
Commercial trading
--
Operating theological
college
96
Religious activities
162		 439
admin
£000
11
15
--
119		 --
IT
£000
4
3
--
12		 --
governance
£000
--
2
--
15		 439
Total
2020
£000
15
20
96
308		 490
Total
2019
£000
15
18
96
361
258 145 19 17 439 490

Basis of apportionment:

Catering costs are allocated on the basis of management's activity based costing system. Office and administration costs are allocated according to an estimate of staff time involved. IT and governance costs are allocated according to estimates of resource utilisation.

15 Net movements in funds for the year Total Total
Net movements in funds for the year is stated after charging: 2020 2019
£000 £000
Auditors' remuneration for audit services to the Group 11 10
of which £2,855 (2019: £3,000) relates to subsidiaries.
Auditors' remuneration for accountancy and tax services 17 15
of which £2,745 (2019: £2,745) relates to subsidiaries.
Auditors' remuneration for other professional services 1 1
of which £1,200 (2019: £1,200) relates to subsidiaries.
Amortisation of website development costs 1 1
Depreciation 127 124
Operating leases - equipment 9 9

Page 28

The Community of the Resurrection Notes to the group financial statements for the year ended 31 August 2020

Company Registration No. 247772 Charity Registration No. 232670

16 Employees

The average monthly number of staff employed by the group during the reporting period and an estimate of the full-time equivalent (FTE) number of staff:

full-time equivalent (FTE) number of staff:
Average no. FTE no. Average no. FTE no.
2020 2020 2019 2019
College academic staff 5 5 3 3
Administration staff (college) 2 2 3 2
Management and administration staff 4 2 6 4
Household, maintenance and grounds 6 5 7 5
Fundraising 2 1 2 1
Catering staff 9 7 14 8
Infirmary 2 1 4 1
Mirfield Centre and library 1 1 3 1
The cost in respect of staff: 31 24 Total 42
Total		 25
Wages and salaries 2020
£000
661		 2019
£000
676
Pension contributions 52 71
- increase/(reduction) in liability on past service cost (CEFPS) (70) 9
Social security costs 46 45
Recruitment costs 1 2
690 803

No employee had emoluments of more than £60,000.

Pension and social security costs are allocated to activities in proportion to the related staffing costs, including where applicable to restricted funds.

No remuneration was paid to any trustee in the year nor did they receive any benefits from employment with the charity or its subsidiaries in the year, or the prior year.

All charity trustees are members of the Community and therefore are also beneficiaries of the parent charity.

17 Staff pensions

Note 2.19 explains each pension scheme operated by the Group and outlines the accounting treatment.

Church of England Funded Pension Scheme (CEFPS)

The Charity and The Frere Educational Trust participate in the CEFPS for stipendary clergy.

Each participating Responsible Body in the scheme pays contributions at a common contribution rate applied to pensionable stipends. The scheme is considered a multi-employer scheme as outlined in note 2.19 above.

For the Charity:

The pension costs charged to the SoFA (income and expenditure account) in the year are contributions payable towards benefits and expenses accrued in that year (2020: £0 ,2019: £2,389), plus the figures highlighted in the table below as being recognised in the SoFA (income and expenditure account), giving a total chargeback of £19,000 for 2020 (2019: charge £389).

Page 29

The Community of the Resurrection Notes to the group financial statements for the year ended 31 August 2020

Company Registration No. 247772 Charity Registration No. 232670

For the Group:

The pension costs charged to the SoFA (income and expenditure account) in the year are contributions payable towards benefits and expenses accrued in that year (2020: £40,802 ,2019: £34,485), plus the figures highlighted in the table below as being recognised in the SoFA (income and expenditure account), giving a total net chargeback of £19,198 for 2020, (2019: a charge of £56,485).

A valuation is carried out once every three years. The most recent Scheme valuation completed was carried out as at 31 December 2018. The 2018 valuation revealed a deficit of £50m, based on assets of £1,818m and a funding target of £1,868m, assessed using the following assumptions:

Following the 31 December 2018 valuation, a recovery plan was put in place until 31 December 2022 and the deficit recovery contributions (as a percentage of pensionable stipends) are as set out in the table below.

% of pensionable stipends January 2018 to January 2021 to
December 2020 December 2022
Deficit repair contributions 11.9% 7.1%

The deficit recovery contributions under the recovery plan in force as at 31 December 2017, 31 December 2018 and 31 December 2019 were as set out in the above table.

For senior office holders, pensionable stipends are adjusted in the calculations by a multiple, as set out in the Scheme's rules.

Section 28.11A of FRS 102 requires agreed deficit recovery payments to be recognised as a liability. The movement in the provision is set out in the table below.

Table:
For the Charity:
Balance sheet liability at 1 September
Deficit contribution paid
Interest cost
SoFA
Remaining change to the liability
SoFA
Balance sheet liability at 31 August
For the Group:
Balance sheet liability at 1 September
Deficit contribution paid
Interest cost
SoFA
Remaining change to the liability
SoFA
Balance sheet liability at 31 August		 2020
£
19,000		 2019
£
24,000
--
--
(19,000)
--		 (3,000)
--
(2,000)
19,000
2020
£
97,000		 2019
£
88,000
(10,000)
2,000
(62,000)
27,000		 (13,000)
1,000
21,000
97,000

Page 30

The Community of the Resurrection Notes to the group financial statements for the year ended 31 August 2020

Company Registration No. 247772 Charity Registration No. 232670

These liabilities and costs are based on the notified scheme position prior to the Group financial year ends which are 31 December 2018 (for 2019) and 31 December 2019 (for 2020).

This liability represents the present value of the deficit contributions agreed as at the valuation date and has been valued using the following assumptions set by reference to the duration of the deficit recovery

payments: December December December
2019 2018 2017
Discount rate 1.1% pa 2.1% pa 1.4% pa
Price inflation 2.8% pa 3.1% pa 3.0% pa
Increase to total pensionable payroll 1.3% pa 1.6% pa 1.5% pa

The legal structure of the scheme is such that if another Responsible Body fails, the relevant employer (The Community of the Resurrection, or The Frere Educational Trust), could become responsible for paying a share of that Responsible Body's pension liabilities.

Church Workers Pension Fund (CWPF)

Church Workers Pension Fund (CWPF)
Group Group Charity Charity
2020 2019 2020 2019
No. staff 19 25 16 22
£ £ £ £
Contributions charged to the SoFA in the year: 10,832 36,717 6,073 31,714

A valuation of the scheme is carried out once every three years. The most recent scheme valuation completed was carried out as at 31 December 2019.

For the Pension Builder Classic section, the valuation revealed a deficit of £32m on the ongoing assumptions used. At the most recent annual review, the Board chose not to grant a discretionary bonus, which will have acted to improve the funding position. There is no requirement for deficit payments at the current time.

For the Pension Builder 2014 section, the valuation revealed a surplus of £2.3m on the ongoing assumptions used. There is no requirement for deficits payments at the current time.

The legal structure of the scheme is such that if another employer fails, the relevant employer (The Community of the Resurrection, or The Frere Educational Trust), could become responsible for paying a share of that failed employer's pension liabilities.

Contingent Liability - Church Workers Pension Fund Pension Builder Classic

If a Pension Builder Classic Section 75 debt had become due at 31 December 2019 then the estimated share of the debt would have been £119,100 plus cessation expenses. For the Frere Educational Trust the estimated share of the debt would have been £50,300 plus cessation expenses. The liability for the Group would have been £169,400 plus cessation expenses.

For the Pension Builder 2014 section the Church of England Pensions Board have confirmed that at the valuation 31 December 2019, the assets were greater than the estimated cost of securing the benefits and no cessation debt would have been payable to the Pension Builder 2014 scheme if the Group had ceased participating.

Discretionary Pensions

The Charity also operates discretionary pensions for certain of its past employees. Such pensions are non-contributory. A provision has been made by the trustees in respect of the potential liabilities arising from this scheme of £154,000 (2019: £165,000).

The costs of pensions payable in the year was £8,435 (2019: £8,238).

Page 31

The Community of the Resurrection Notes to the group financial statements for the year ended 31 August 2020

Company Registration No. 247772 Charity Registration No. 232670

18 Intangible Fixed Assets - Group

----- Start of picture text -----
Website costs
Cost £000
At 1 September 2019 and 31 August 2020 5
Amortisation
At 1 September 2019 3
Charge for the year 1
At 31 August 2020 4
Net book value
At 31 August 2020 1
At 31 August 2019 2
----- End of picture text -----

19 Tangible Fixed Assets - Group

Cost
At 1 September 2019
Additions
Disposals
At 31 August 2020
Depreciation
At 1 September 2019
Charge for the year
On disposals
At 31 August 2020
Net book value
At 31 August 2020
At 31 August 2019		 Freehold
Leasehold
Fixtures
Land and
Land and
and
Motor
Buildings
Buildings
fittings
Vehicles
Total
£000
£000
£000
£000
£000
5,504
160
528
17
6,209
452
--
5
--
457
--
--
--
--
--
5,956
160
533
17
6,666
1,221
37
303
10
1,571
97
1
27
1
126
--
--
--
--
--
1,318
38
330
11
1,697
4,638
122
203
6
4,969
4,283
123
225
7
4,638

Tangible Fixed Assets - Company

Cost or valuation
At 1 September 2019
Additions
Disposals
At 31 August 2020		 Freehold
Leasehold
Fixtures
Land and
Land and
and
Motor
Buildings
Buildings
fittings
Vehicles
Total
£000
£000
£000
£000
£000
5,504
160
528
17
6,209
452
--
5
--
457
--
--
--
--
--
5,956
160
533
17
6,666

Page 32

The Community of the Resurrection Notes to the group financial statements for the year ended 31 August 2020

Company Registration No. 247772 Charity Registration No. 232670

Depreciation
At 1 September 2019
Charge for the year
On disposals
At 31 August 2020
Net book value
At 31 August 2020
At 31 August 2019		 1,221
37
303
10
1,571
97
1
27
1
126
--
--
--
--
--
1,318
38
330
11
1,697
4,638
122
203
6
4,969
4,283
123
225
7
4,638

The long leasehold property is in Worthing and was purchased in February 2005, the property is on a long lease lasting 200 years from 25 March 1997, the estimated residual lease value after 50 years of Community ownership is estimated to be £100,000. This property is in use by the charity.

20
Investment property - Group and Company
as at 1 September 2019
Loss on fair value adjustment
Net book value as at 31 August 2020
Historic cost/probate value		 Investment
properties
£000
3,915
(270)
3,645
3,506

The investment property is a 50% share in a property left to the Community by way of legacy in 2015. The property is currently held in a bare trust on behalf of the charity and another beneficiary. The trustees of the bare trust being Richard Roberts and Mark Jones of Gedye & Sons (Solicitors) Limited.

The valuation of the investment property was made by Alexander Lewis FRCIS IRRV of Tuckerman Chartered Surveyors on a market valuation basis in accordance with the RICS Appraisal & Valuation Standards. The probate value (historic cost) of the 50% share in the property was £3,506,250 (2019: £3,506,250).

21 Fixed Asset Investments - Group

Movement in fixed asset investments
Market value as at 1 September
Additions
Disposals
Net gain on revaluation
Market value as at 31 August
Historical cost
Comprised of:
Listed Equities
Listed Fixed interest securities
Cash held within the investment portfolio		 2020
2019
£000
£000
6,654
7,006
679
1,743
(1,163)
(2,256)
45
161
6,215
6,654
4,667
5,034
2020
2019
£000
£000
4,101
4,631
1,930
1,820
184
203
6,215
6,654

Page 33

The Community of the Resurrection Notes to the group financial statements for the year ended 31 August 2020

Company Registration No. 247772 Charity Registration No. 232670

Fixed Asset Investments - Company
Movement in fixed asset investments
Market value as at 1 September
Additions to investments at cost
Disposals at carrying value
Net (loss)/gain on revaluation
Market value as at 31 August
Historical cost
Comprised of:
Listed Equities
Listed Fixed interest securities
Cash held within the investment portfolio
Equity in trading subsidiary		 2020
2019
£000
£000
6,475
6,788
665
1,726
(1,099)
(2,235)
(30)
196
6,011
6,475
4,473
4,791
2020
2019
£000
£000
3,956
4,447
1,874
1,749
181
194
--
85
6,011
6,475

All investments are managed and controlled in the United Kingdom.

22
Debtors
Trade debtors
Legacies notified but not yet received
Gift Aid claims made but not yet received
Prepayments
Cash held by custodian trustees
Owed by subsidiary company		 Total
Total
Total
Total
2020
2019
2020
2019
£000
£000
£000
£000
19
41
23
33
15
176
15
176
2
2
2
2
17
13
17
13
24
9
24
9
--
--
9
23
77
241
90
256
Group
Company

23 Creditors: Amounts falling due within one year

note
Trade creditors
Taxation and social security
Deposits for weddings
Accruals for grants payable
Accruals and deferred income
Other creditors		 Total
Total
Total
Total
2020
2019
2020
2019
£000
£000
£000
£000
76
91
58
75
10
17
5
6
16
20
--
--
--
4
--
4
52
33
51
33
(1)
16
(1)
16
153
181
113
134
Group
Company

Page 34

The Community of the Resurrection Notes to the group financial statements for the year ended 31 August 2020

Company Registration No. 247772 Charity Registration No. 232670

24 Provisions for liabilities

As detailed in notes 2.19 and 17 the Charity operates a discretionary pension for certain past employees. The trustees have made an estimate in respect of the potential liabilities arising from this scheme.

Group and Company At 31 At 31
August payable provision August
2019 in the year adjustment 2020
£000 £000 £000 £000
Provision for discretionary pensions 165 (8) (3) 154

The estimated provision assumes an increase in payments in line with an RPI forecast of 4.1%, together with a pension discount rate of 1.5% and an expected payment period of 20 years from 1 September 2015. These assumptions are reviewed annually.

25 Analysis of charitable funds - Group

UNRESTRICTED FUNDS - GROUP

At 31
At 31
August
Other
August
2019
Income
Expenditure
Gains
Transfers
2020
General funds:
£000
£000
£000
£000
£000
£000
Joint fund
6,230
262
(136)
16
(570)
5,802
College fund
232
547
(420)
(15)
(167)
177
General fund
200
685
(970)
--
285
200
6,662
1,494
(1,526)
1
(452)
6,179
Designated funds:
Property (Buildings)
7,059
--
(83)
(270)
452
7,158
Frere Fund
1,695
9
(58)
(29)
--
1,617
Thorn Bequest
52
1
--
--
--
53
8,806
10
(141)
(299)
452
8,828
Unrestricted Funds
15,468
1,504
(1,667)
(298)
--
15,007
REVALUATION RESERVE - GROUP
At 31
At 31
August
Revaluation
August
2019
during the year
2020
£000
£000
£000
Revaluation reserve on investment property
409
(270)
139

This revaluation reserve forms part of the Property (Buildings) fund above under Designated Funds.

Page 35

The Community of the Resurrection Notes to the group financial statements for the year ended 31 August 2020

Company Registration No. 247772 Charity Registration No. 232670

RESTRICTED FUNDS - GROUP

----- Start of picture text -----
At 31 At 31
August Other August
2019 Income Expenditure Gains Transfers 2020
£000 £000 £000 £000 £000 £000
Goodman fund 16 1 (1) (1) -- 15
Zimbabwe fund 7 3 (1) -- -- 9
Church Appeal 33 6 (2) -- -- 37
CR Future fund 342 235 (13) -- -- 564
Artists in Residence 4 -- -- -- -- 4
Restricted Funds 402 245 (17) (1) -- 629
ENDOWMENT FUNDS - GROUP
At 31 At 31
August Other August
2019 Income Expenditure Gains Transfers 2020
£000 £000 £000 £000 £000 £000
Goodman Bequest 48 -- -- -- -- 48
TOTAL FUNDS: 15,918 1,749 (1,684) (299) -- 15,684
----- End of picture text -----

26 Analysis of charitable funds - Company

UNRESTRICTED FUNDS - COMPANY

General funds:
Joint fund
General fund		 as at 31
As at 31
August
Other
August
2019
Income
Expenditure
Gains
Transfers
2020
£000
£000
£000
£000
£000
£000
6,230
249
(35)
(70)
(570)
5,804
200
993
(1,111)
--
118
200
Designated funds:
Property (Buildings)
Frere Fund
Thorn Bequest		 6,430
1,242
(1,146)
(70)
(452)
6,004
7,059
--
(83)
(270)
452
7,158
1,695
9
(58)
(29)
--
1,617
52
1
--
--
--
53
Unrestricted Funds 8,806
10
(141)
(299)
452
8,828
15,236
1,252
(1,287)
(369)
--
14,832

Page 36

The Community of the Resurrection Notes to the group financial statements for the year ended 31 August 2020

Company Registration No. 247772 Charity Registration No. 232670

REVALUATION RESERVE - COMPANY

REVALUATION RESERVE - COMPANY
At 31 At 31
August Revaluation August
2019 during the year 2020
£000 £000 £000
Revaluation reserve on investment property 409 (270) 139

This revaluation reserve forms part of the Property (Buildings) fund above under Designated Funds.

RESTRICTED RESERVES - COMPANY

RESTRICTED RESERVES - COMPANY
Goodman fund
Zimbabwe fund
Church Appeal
CR Future fund
Artists in Residence		 At 31
At 31
August
Other
August
2019
Income
Expenditure
Gains
Transfers
2020
£000
£000
£000
£000
£000
£000
16
1
(1)
(1)
--
15
7
3
(1)
--
--
9
33
6
(2)
--
--
37
342
235
(13)
--
--
564
4
--
--
--
--
4
Restricted Funds 402
245
(17)
(1)
--
629
ENDOWMENT FUNDS - COMPANY
At 31
At 31
August
Other
August
2019
Income
Expenditure
Gains
Transfers
2020
£000
£000
£000
£000
£000
£000
Goodman Bequest
48
--
--
--
--
48
TOTAL FUNDS: 15,686
1,497
(1,304)
(370)
--
15,509
Movements on charitable funds - Group - PREVIOUS YEAR
At 31
Other
At 31
August
Gains
August
2018
Income
Expenditure
/(Losses)
Transfers
2019
£000
£000
£000
£000
£000
£000
General Funds
6,198
1,306
(1,231)
103
54
6,430
College Fund
282
548
(416)
(1)
(181)
232
Designated Funds
8,514
20
(132)
355
49
8,806
Unrestricted Funds
Restricted Funds
Endowment Funds		 14,994
1,874
(1,779)
457
(78)
15,468
134
202
(11)
(1)
78
402
51
--
--
(3)
--
48
15,179
2,076
(1,790)
453
--
15,918

Page 37

The Community of the Resurrection Notes to the group financial statements for the year ended 31 August 2020

Company Registration No. 247772 Charity Registration No. 232670

Movements on charitable funds - Company - PREVIOUS YEAR

General Funds
Designated Funds
Unrestricted Funds
Restricted Funds
Endowment Funds		 At 31
Other
At 31
August
Gains
August
2018
Income
Expenditure
/(Losses)
Transfers
2019
£000
£000
£000
£000
£000
£000
6,198
1,470
(1,249)
138
(127)
6,430
8,514
20
(132)
355
49
8,806
14,712
1,490
(1,381)
493
(78)
15,236
134
202
(11)
(1)
78
402
51
--
--
(3)
--
48
14,897
1,692
(1,392)
489
--
15,686

27 Description of funds:

UNRESTRICTED FUNDS

The Joint Fund

The Joint Fund is the principal fund of the Community. The income produced by the fund is used for the work of the Community and for capital projects.

The College Fund

This fund is the general fund of the Frere Educational Trust subsidiary charitable company.

The General Fund

This fund is for the day-to-day income and expenditure of the Community.

The charity has a policy of transferring funds from the Joint Fund such that the General Fund has a balance of £200,000 at the beginning of each financial year.

DESIGNATED FUNDS:

The Property (Buildings) Fund

This fund represents the unrestricted land and buildings held on an ongoing basis.

The Frere Fund

This fund comprises the present assets formerly owned by The Frere Educational Trust. The purpose of this designated fund is to support the educational work sponsored by the Community and especially theological education and ministerial formation at the College of the Resurrection. The Trustees of The Frere Educational Trust administer the fund on behalf of the Community.

The Thorn Bequest Fund

This fund has been designated for mission work in South Africa.

RESTRICTED FUNDS

The Archdeacon Goodman Fund

The object of the fund is the advancement of the Christian faith and the advancement of health by supporting or assisting in the support of Christian medical missionary work in such a manner as the trustees may from time to time decide.

Zimbabwe Fund

This fund is to support the Community's and other groups' works in Zimbabwe.

Page 38

The Community of the Resurrection Notes to the group financial statements for the year ended 31 August 2020

Company Registration No. 247772 Charity Registration No. 232670

The Church Appeal Fund

This fund is to raise funds for the refurbishment of the Church of the Resurrection in Mirfield.

The income on this fund is what has been raised through appeal donations in the year. The expenditure on this fund is the non-capital expenditure that has been set against the fund.

Whilst further refurbishment work continues as funds allow, the main structural refurbishment was completed and the costs capitalised in prior years.

The CR Future Fund

This fund is to raise funds to support the future of the Community and its works, in particular making improvements, additions and alterations to the House of the Resurrection, and as necessary to this purpose, other areas of the Mirfield site. The aim is to renew this place of hospitality, prayer and learning as a resource for Church and society in a turbulent and changing world.

The remodelling of the House will be designed to allow flexible use of space, both to meet the physical and the spiritual needs of those who come, and to foster the common life of the Community.

The Artists in Residence Fund

The purpose of this fund is to assist artists to do work at the Community and for exhibitions.

PERMANENT ENDOWMENT

The Goodman Bequest Fund

This is a permanent endowment as part of the Archdeacon Goodman bequest, the objects are as for the Archdeacon Goodman Fund above. The capital of the fund cannot be expended, the income from the capital is paid to the Archdeacon Goodman Fund and can be expended in accordance with the objects.

28 Analysis of net assets between funds - Group

Intangible fixed assets
Tangible fixed assets
Investment properties
Investments
Current assets
Current liabilities
Provisions for liabilities		 General
Designated
Restricted
Endowment
Funds
Funds
Funds
Funds
Total
£000
£000
£000
£000
£000
1
--
--
--
1
208
4,761
--
--
4,969
--
3,645
--
--
3,645
5,693
468
6
48
6,215
596
(45)
636
--
1,187
(150)
(1)
--
--
(151)
(181)
--
--
--
(181)
6,167
8,828
642
48
15,685

Analysis of net assets between funds - Company

Tangible fixed assets
Investment properties
Investments
Current assets
Current liabilities
Provisions for liabilities		 General
Designated
Restricted
Endowment
Funds
Funds
Funds
Funds
Total
£000
£000
£000
£000
£000
208
4,761
--
--
4,969
--
3,645
--
--
3,645
5,489
468
6
48
6,011
559
(45)
636
--
1,150
(111)
(1)
--
--
(112)
(154)
--
--
--
(154)
5,991
8,828
642
48
15,509

Page 39

The Community of the Resurrection Notes to the group financial statements for the year ended 31 August 2020

Company Registration No. 247772 Charity Registration No. 232670

Analysis of net assets between funds - Group - PREVIOUS YEAR

Intangible fixed assets
Tangible fixed assets
Investment properties
Investments
Current assets
Current liabilities
Creditors more than one year
Provisions for liabilities		 General
Designated
Restricted
Endowment
Funds
Funds
Funds
Funds
Total
£000
£000
£000
£000
£000
2
--
--
--
2
232
4,406
--
--
4,638
--
3,915
--
--
3,915
6,101
498
7
48
6,654
766
(13)
399
--
1,152
(178)
--
(4)
--
(182)
--
--
--
--
--
(262)
--
--
--
(262)
6,661
8,806
402
48
15,917

Analysis of net assets between funds - Company - PREVIOUS YEAR

Tangible fixed assets
Investment properties
Investments
Current assets
Current liabilities
Creditors more than one year
Provisions for liabilities		 General
Designated
Restricted
Endowment
Funds
Funds
Funds
Funds
Total
£000
£000
£000
£000
£000
232
4,406
--
--
4,638
--
3,915
--
--
3,915
5,922
498
7
48
6,475
590
(13)
399
--
976
(130)
--
(4)
--
(134)
--
--
--
--
--
(184)
--
--
--
(184)
6,430
8,806
402
48
15,686

29 Lessee

At the reporting date the group had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

not later than 1 year
later than 1 year and not later than 5 years
later than 5 years
Total:		 Total
Total
Total
Total
2020
2019
2020
2019
£000
£000
£000
£000
11
11
5
4
21
20
16
7
--
--
--
--
32
30
21
11
Group
Company

30 Related party transactions

Trustees

The trustees of the charity are all members of the company, which is a company limited by guarantee having no share capital, and are all brethren of the Community, having their welfare funded by the charity. Any capital which the brethren possess is managed by the Community and any income generated by this capital is given to the Community and included within the General Fund, which is an unrestricted fund. State and clergy pensions to which the brethren are entitled are also given to the Community and included within the General Fund. Income received from the brethren is identified separately within voluntary income.

Page 40

The Community of the Resurrection Notes to the group financial statements for the year ended 31 August 2020

Company Registration No. 247772 Charity Registration No. 232670

The Frere Educational Trust

The Community is the only member of The Frere Educational Trust, a company limited by guarantee having no share capital. Oswin Philip Gartside, George Paul Alfred Guiver and Philip David John Nichols served as trustees of The Frere Educational Trust as well as being trustees of The Community of the Resurrection.

Some of the brethren of the Community are involved in teaching activities at the College of the Resurrection, which is operated by The Frere Educational Trust, for which they receive no remuneration.

31 Events after the reporting date

Significant uncertainty continues to arise due to the impact of the Covid-19 pandemic. Any future significant changes are considered to be a non-adjusting event in relation to these financial statements. The trustees continue to monitor any impacts of Covid-19 on the Group, but as of the date of signing these financial statements do not believe that there has been any significant impact requiring disclosure.

32 Auditors' ethical standards

In common with many organisations of our size and nature we use our auditors to prepare and submit returns to Companies House and the Charity Commission and assist with preparation of the financial statements and deal with the tax authorities.

Page 41