Charlty Reglstratlon No. 233335
CONQREQATION OF PRIESTS OP THE SACRED HEARTOF JESUS OF 8EfTriARRAM
ANNUAL REPORT AND FINANCIAL STATEPAENT8
FOR THE YEAR ENDED 31 DECEMBER 2023

CONGREGATION OF PRIESTS OF THE SACRED HEART OF JESUS OF
BETHARRAM
LEGALAND ADMINISTRATIVE INFORMATION
Tru8te¢8
The Revèrènd Frederid( Hughe8
The Revtsrtrnd Anthony Madel
BrotherAndrow Feths
Reverend Vwlfred Joseph
Reverend Enrfco Frlgerio
Charlty numbor
233335
Prlnclpal addrgs8
The Friary
Sl 8ernards Road
Ollon
Solihull
B92 78L
ContactAddre
Granla Lodge
71 Graham Road
Malvem
Worcestershlre
WR14 2JS
Auditor
Kendall Wadley LLP
Granta L￿1ge
71 Graham Road
M8lvem
VVor¢eslgr8hire
VVR14 2JS
Bankorn
Royal Bank of Scofjand PIC
7 Market Slra81
Leigh
Lancashire
WN7 2EE
Sollcltor8
TyndalhNood8 Solidlor8
29 Woodboume Road
Bimlngham
B178BY
Investment advlsors
BRI Weatth Management PIC
BRI House
Elm Court
Meridgn Buslness Park
Meridon
CVS 9RL

CONGREGATION OF PRIESTS OF THE SACRED HEART OF JESUS OF
BETHARRAM
CONTENTS
Page
Tru8tees report
Statement of Tru8lee$ responsiblllties
Independent audltorf8 report
Slalem8nl of finandal activ1t￿$
Balance sheet
Statemènt of cash flows
10
Note8 10 thè accounts

CONGREGATION OF PRIESTS OF THE SACRED HEART OF JESUS OF
BETHARRAM
TRUSTEES REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023
The Trustees present Ih91r report and accounts for thg yg8r ended 31 December 2023.
The finanoi81 statements have been prepared in accordanc8 with thè accounting polides Set out in note 110 th8
flnandal slalemenls and ￿Mpty with the Congregation's Trust Deed dated 28 November 1964, the Char(1Se8 Act
2011 and "Accounllng and Reporting by Charlli8s'. Slalemenl ol Recommended Practlc8 appllcable lo Charl￿￿6
preparlng Ihelr accounts In accordance wlth the Finan¢lal Reportlng Standard applicable in the UK and R8public
of Irgland IFRS 1021 (effective 1 January 20191"
Oblectlves and actlvltl•s
Charitable oblectlves
The Congregation's objectivè is io apply ¢apilal or income for Such charllable purprises which advanca the
rellgious and olh8r charitable work for the lime being carried on in England and Wales by or under the dirodon
orwllh the 8UPPOrt of the Congregation as th6 Tru81ees wllh the approval of the Vicarialè Superlor shall from Itmè
to time think fit.
Inve8tment Pow•r8
Investment powers are governed by Ihe Trust Deed, whieh permlts fund$ to be invested bwlhln the prevailng
Charities legislation. Assets are held to 98nerate inve51menl Income for Charllable expendlture, and are hold
wllhln the Trustee8 powers.
Policy
Insplred by our fallh In tha Word of God the Congregation undertake a broad ran9& of Charitable acuvities. The
principle areas in which the Congregatlon is invofved are 3el out below:
1. Pastoral and social cartr
The members of the Congreg8llon undertake wor* In the communlty and thelr local parfsh Includlng. the
performance of the church, wedding and funeral servlcas.
Sodal care Includes worf( with the underpriv51eged, poor, drug addiots and mentally111, pro￿dIng care and support
both spiritual and financlal.
2. Health car6
Members of thè Congregallon vlsll tho sl¢k, aged. house bound and dying, administering to thelr varSous noeds.
Publi¢ benefit ¢ompllan¢o
The Congregation confirm that they have complied with the duty in sectlon 4 of tho Charities Act 201110 have
due regard to the Charity Commission'8 general guidance on public benefit, 'Charilie8 and Public Benellt..
Achlgvgmonts and perfomianc•
The Slalemenl of Financial AGtIVi￿e8 show8 that total InLxJme amounted lo £342,98712022.' £343,215), durlng the
year. Thls Includes £92.747 P022.. £95,091) from in￿SIm&nI incorne and £206,198 12022.. £200,493) from
donations and legacles.
Tho movements lo fixed assets during the year included the purchase of ftxtures. fittings ond equipment of
£2,52112022'. £2,887>. In 2022 a property was also purchased In the year al a cost of £590,487.
Al 31 Deoemb&r 2023 the lolal funds of the Congregation were £4,645,775. Of this £2.835,898. represents
in￿sIm￿nts genèrallng income lo finance the work Ctf the Congregatbon. The inv88thient portfollo15 managed by
BRI Wearth Management Plc.
Over many years various members of thg Congregation have glven Ihelr worklng lif8 lo the Order. Now In
rellrgmenl. and1081ng Ihelr lied arLommodaUon, a provlslon is rgquired lo meet their future housing, financial and
rnèdical needs. Thes& are to be supported out ofthe funds Invesl&d by the Congregallon.

CONGREGATION OF PRIESTS OF THE SACRED HEART OF JESUS OF
BETHARRAM
TRUSTEES REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Flnan¢lal revlew
The English VS¢arlale h&8 12 members who have given most of tholr wor￿n9 Ilvgs lo the Chadlablg adlvlli98 of
Ihe Congregatlon. Where th18 work is for organisauons Independent of the Congregauon, any gamlngs are
received by the Charily.
The Congregallon has a e￿ntInuIng commllmenl to support 115 members by conlrlbullng to pension fvnds now
adminlster6d by Slondard Life and Friends Lif&. The p8nsion recelved helps lo support members, many ofwhom
continua to carry out charflable work long past the nomial r6tirement ag&.
Reserves policy
It Is the pollcy of the Congregation that unre8tri¢tod funds which have not been designated lor o speclfic use
should be malnlained al a leval equivalent lo bètween three and six month's expendllure. The Trustees Considgrs
that ￿S￿rveS al Ihls levol wlll ensure that, in the event of a slgnlficanl drop In fvndlng, they wlll b& aNe lo
continue the Congregation's current activitses, while considèration is glvgn lo ways In whkh addlllonal fund8 may
be rai88d. Thi$18vel of res8Nes has bgon malntsln8d throughout the yaar.
Note 20 to the 17nandal statements splfts the Congregation's reserves btheen thos6 designated for speclflc
wrposes and th08e available for day lo day requirements.
The General reserve fund represents the unreslrlcled frea reserves arfslng from past operallng results. The
Trustees are satisfied that the balance of the fund £908,432 is suffici8nl to enable the Congregation lo carry out
the oblectlvos of Ihg Charity. Th88e are constsnlly under rewew and will bo amended accordingly.
RIBk Managament
The Trustees hav8 assessed the major dsk8 to whith the Congr¢98tion is 8xposed. In particular those related lo
opera￿on$ and finance of the Congregation, and ar8 satisfigd that systems are In place lo mitigate exposure lo
the majtsr ri8k8.
structUrn¥ gov•rnane• and management
The Congregation of the Priests of the Safxe¢J Heart of Jesus of Belharram is administored by the Vi¢arfalg
Superior togolh8r with four other Tru8lee8.
Th9 congrega￿on 18 govemed by a Trust Deed dated 26 November 1W and is rgg18tered ￿th the Charoty
ComrTtlssion. Charity Registration Numb8r 233335.
The Trustees who $gJved durfng the year are Shown below=
The Reve￿nd Frèdeiick Hughes
The Reverend Anthony Madel
BrolhorAndrew Ferris
Rgvgiend Wlfred Joseph
Rgverend Enri¢0 Friggrio
New Trustees aTe elected by the Board of TTUStees from members ofthe Order and serve until their rellremenl.
Trustg9s are nomln8lèd by members of the Board of Trus199s and appolnled where they have the necessary
s￿11$ lo conlrfbule lo the CharW8 development.
The slatulory power to appoint now Trustees or lo remove serving Truslg85 1$ ves19d in fh9 M¢arialg Sup9rlor.
Audltor
A rasolution proposing that Kendall Wadley LLP be reappolnted as audllor8 of th8 charrty wlll be put lo the
members.

CONGREGATION OF PRIESTS OF THE SACRED HEART OF JESUS OF
BETHARRAM
TRUSTEES REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Dlsclo$uro of Intorniatlon to audltor
Each ol tho Tru81ee8 has ¢onflrmed that Ih8re Is no Informallon of whlth they ara aware whith 18 ￿levant lo thè
audit. bul ol which th6 auditor is unaware. They have further confirmed that they havg tsken approprfale $tgps to
Identify Such relevant Infomiallon and to e8tab118h that the audhor are aware of such Infom)allon.
The Trustees report wa
approv8d by the Board of Trustoes.
Thg Rov8r•nd Anthony Mad8
Truste&
Dated.. 3 Oclober 2024

CONGREGATION OF PRIESTS OF THE SACRED HEART OF JESUS OF
BETHARRAM
STATEMENT OF TRUSTEES RESPONSIBILITIES
FOR THE YEAR ENDED 31 DECEMBER 2023
The Trustee8 are responsible for preparing the Trust998 R8POrt anL% the financlal statements in Bccordknce wrth
applicable law and Unilod Klngdom AccounlSng Stsndards (United Klngdom Generally Accepted Aocountlng
Praclicel.
The law applicable lo tharilies in England and Wales requires th& Trustee8 Its prepare finanrAal slalemenls for each
Ilnanclal year whlch give a true and fair view of the slatè of affalrs of the Congregation and of the incoming
resour¢88 and applbcalion of rgsour¢os of th8 Congregation for that year.
In preparing these flnanclal slalements, the Trustees are requlred lo..
sgleci 8uilable aceounling policies and then appty Iham consislenlly.,
observe the m81hods and principles In Ihg CharllSe$ SORP.,
. make ludgemenls and estlmala8 that are r8a8onable and prudent.,
slate whether appllcable accounting standards have been followed, subject lo any material departures disdosed
and explalned in th8 financlal slalernanls.. and
prepare the finandal 8181om6n18 on th8 golng concem basls unless rt is inapproprlal6 to prasume that the charty
will continue Sn operation.
The Trustees are responsible for keeping sufficient aocounllng records that dlsclose with reasonable accuracy al
any lirlle the financial positlon of the Congregation and enable them lo ensure that the ffnanclal slalements comply
wllh the Charllies Act 2011, the CharEty {Accounts and Reports) Regulations 2008 and the provi810n5 of the trust
deed. They are also responslbla for 8afeguarding the assets of the Gongregallon and hence for laklng reasonable
steps for the prevention and detection of fraud and olh8r irregularfllgs.

CONGREGATION OF PRIESTS OF THE SACRED HEART OF JESUS OF
BETHARRAM
INDEPENDENT AUDITOR'S REPORT
TO THE TRUSTEES OF CONGREGATION OF PRIESTS OF THE SACRED HEART OF
JESUS OF BETHARRAM
Oplnlon
We have audited the flnancial glalemenls of Congregallon of Priests of the Sacred Haart ol Jesu5 of Betharram (the
'Con9r898tion'l for the year ended 31 D8cemb&r 2023 which compiisg the slalelnenl of financial actSvilias, the
balance Sheet, the statgmenl of cash flows and notes to Ihg financlal ststemenls, induding 8ignlficanl accountlng
pollcles. The financlal raportlng framework that has been applSed In Ihelr preparation Is applicable law and United
Ktngdom Accounting Standard8, Including Flnancial Reporting Standard 102 Thg Fln8ncial Reporting Stsndartl
appli¢8ble in the UK and Republic ofirnland (United ￿ngdoM Generolly Accepted A¢cL)unllng Praotl¢g1.
In our opinion. the financial statement8'.
glve a true and fair ￿&W of the slats of the charity's affalrs a8 at 31 Dgc9mber 2023 arid of its Incoming
rasourc8s and application of resources, for the y8ar then ended.,
havg been properfy prepared in accordance wtth United Klng(5om Generaty Accepl8d Accounting Practice..
and
have bgen prepared in accordance with the requSrements of the Charities A¢t 2011.
8as18 for oplnlon
We conducted our audll In acwrd8nce wllh Internatlon81 Standards on Audlllng IUKI IISAS IUKII and applicable
law. Our responsibilitles under those standards ar8 further described in the Auditors Trsponsibllilies for Ihe audll or
the fin81JGi81 slalem&nts sectlon of our report. Wè are independent of the Conuregallon In accordance wtth the
elhl¢81 r8qulr6menls that are relevanl lo our audit of tha financial slalemenls in the UK, inclijdlng the FRC'S Elhrcal
Standard, and we have fulfillad our other &thical responsibilitiès in accordance with these requlremenls. We believg
that the aud￿ evldence we have oblalnèd 1$ sufflclent and 8pproprf8te lo provldo a basis for our oplnlon,
Conclu¥lon$ r8lafjng to golng concorn
In audrtlng the finandal slalemenls, we have concluded that the Trustees use of tho going conceTn ba81s of
a￿U￿￿n9 In Ihe preparation of the Ilnancial statements is approprfate.
Based on the work we have porforrned, we have not id8nlifl8d any maleiial uncértalnties relatlng to events or
condillons that, indbvidually or collectively, may cast significant doubl on the Congregallon's ability to 00n￿nue as a
golnu concern for a pèriod of al least twefvo months from when Ihg flnanclal stalem6nls ara aulhorf8ed for Issue.
Our ro8ponslbilities and the responslbllilOe8 of th& Twste88 wlih respect lo goSng concom are described In the
r818vant soction8 of this ieport.
Othgr Infomiatlon
Thg Other Information comprise5 the Infomiolion indud&d in the annual report other than the ffinanelal statements
and OUT audito¢8 report Ihereon. The Tru8188s are responslbl8 for the other information contalned within the annual
report. Our opinlon on the financial 8talem8tts does not cover the other information and w8 do not express any form
of assuranca condusion Ihereon. Our responsibility is to read the other information and, In doing so, consider
whether the other informallon Is malerlalty Inconsislenl wllh Ihg financlal statements or our knowledge obtained in
the course of the audit, or olhewwise appears to be materially misstated. If we id&nlify such material incon81Stende3
or app8￿nI material mi551atements. we are requlred lo determine whether Ihls gives rfse lo a materlal mi8stalemenl
In the financlal slalemenls themselves. If, tsased on the work we have perfomied. we condudo that Ihero is a
material mi561alement of th18 Other infomauon, we are requlred to report that fact.
We have nothing lo rgport in this regard.

CONGREGATION OF PRIESTS OF THE SACRED HEART OF JESUS OF
BETHARRAM
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF CONGREGATION OF PRIESTS OF THE SACRED HEART OF
JESUS OF BETHARRAM
Matter8 on whlch we are r•qulred to rèport by ex¢optlon
We have nolhlng to report in re8pgCt of the following maller5 in relation to whlth the Charill88 (Accounts and
Report8} Regulation8 2008 roquire us lo report lo you If. In our oplnion..
the Informatlon glven In the financial stslemenls is Inconslstent In any material r88pect ￿th tho Tru8tges
report,. or
sufficlent 8ccounllng record8 have not begn kept., or
Ihe finanoial statement5 aTe not in agreement with Ihg accounllng recoTds', or
we have not recelved all the infomialion and explan8tlons we Tequlre for our audtt.
Responsibilities of Tru8te•$
As explained More fulty in tho slalernenl of Trustees responslbllllies, Ihe Twslee5 gro r8sponslbl8 for the
preparaNon of the finan¢l81 ststemenls and for being SBlisfied that they glve a true and falr vlew, and for 8uoh
Inlemal control as the Trust868 determln8 Ss necossary lo enable the preparation of financAal slalemenls that are
fr80 from material mlsslalernenl. whether due lo fraud or error. In weparing tha finanaal slalements, the Trusl8e¥
are respc*nsible for assessing the Congregatlon's abllity to contlnue as a going concem, dlsdoslng, as applicable,
mallers r8lalad to golng concgrn and using the golng concern basls of accounllng unless the Trustees either Snlend
lo cease operations, or hav8 no ie81islic altemalive but to do so.
AudIt0￿9 rosponslblllllgs for tho audlt of thg flnan¢lal statsm•nts
We havg been appointed a8 auditor under sectSon 144 of th& Charilios Ael 2011 and report in accordance with the
Act arbd ralevanl r9gulallons mad8 or ha￿ing effect Ihereunder.
Our oblectives are lo obtain reasonable assurance about whelhor the financlal slalements as a whole aro fleè from
material mis8latsmenl, whether due lo fr#ud or error, and lo issue an audilorfs report that includes our opinion.
Reasonable assurance is a high level of assurance bul Is not a guaranlee that an audlt conduoted In accordance
wllh ISAS IUKI wlll atways detect a Malarial misslalemenl when 11 exists. Misslalemenls can arl$8 from fraud or
èrTor and are ¢onsid$rerl malarlal tf, individually or in the aggregate, they could reasonably be expected lo Influet)ce
Ihe economlc declslon8 of user8 taken on the ba815 of these ffinanGlal slalBments.
The oxlenl to whlch our procedures are Qapable of detecting Irregularflley, Includlng fraud, 18 ijetslled below.
Extsnt to whlch Ihe audlt wa• con¥iderod eapablo tsf dgto¢llng lrngulariti•s, includlng fraud
an underslandlng of the Hsk assessment process fjncluding the assessment of the risk of Iraud} adopl8d by the
Tru$tees is obtainod and their altitude lo risk ascertalned.
an a8se88rnenl of tho $us¢epllbility lo malemal mi8•8t8temonl of the financtal 8talgmgnts a8 8 r8sull of
managom6nl ovar-rfde or fraud Is made.
- it is ensured that the engagement le8m h8Vg, ¢ollectiv8ly, the approprfate competence. capabllilles and skllls lo be
Involved in the assignment, are fully brlefed and under81and Ihg rl8ks spedfic lo th8 oharfty,

CONGREGATION OF PRIESTS OF THE SACRED HEART OF JESUS OF
BETHARRAM
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF CONGREGATION OF PRIESTS OF THE SACRED HEART OF
JESUS OF BETHARRAM
Audlt r￿pOnSe to rlsks Id•ntiflod
processes lo lost Ihe outcomes of our assessment indude, analytical review, tha relevaTr¢e and accuracy of
8lgnSficgnl accovnling e8fjmale8, sub51anlive 18sllng of slgnlflcant Iran88Ctlons, work lo Idenlify unusual or
un8xptrctod accountlng entries inc4udlng Ihg lesllng of loumal entries, information disclosed In the financlal
slalemenls is traced lo supporting documenlallon. In all in51anc8s il is acknowlodged that material rnis-statemenls
that arise from fraud may involve dellberala concealment or colluslon and are, Iher&fore, by Ihelr very nature horder
lo delgct than Ih08e arlslng from error.
an under8tsnding of the legal and regulatory framework 88 applicable to the charity, In partlcular safeguarding, is
obtained together wllh knowledue of th8 procedures pul In place by the charity In order lo eAJmply wllh the samè.
It Is establlshgd If there havg been any Instances of non-compllance ￿th appll¢abl8 laws and rogulation$, wherg
Ihero are such breathes, a full understsnding, Including gathering of relevant documenlallon appertaining to the
event is oblalned and assessed.
It should be noted that Auditing standards limit the audll prO￿dureS requlrod to Idenllfy non-complianc* with law5
and regulallons 10 8nquiry of the Trustees and others and the In$p8etlon of ragulalory and legal ¢orrespondence, rf
any.
A further description of our reBponsibilities is available on the Flnanoial Reporting Council's websltg Ot.. hllps'.11
www.froorg.uklaudllorsre8ponslbllllies. Thls de$criplSon fom)s part of our audilof 8 report.
Othèr mattors
Your attention Is drawn lo tha fact that Ihg chartty has praporèd IlnaneAal statements in accordance wilh"Aocounling
8nd Reporting by Charllies.. Slal?menl of Rocommended Pr8¢tlce 8ppllcable lo chariti&3 prep8rSng Ihelr accoun18 fjn
accordance with the Flnancial Reportlng Standard applicable in the UK and Republlc of Ireland (FRS 1021" las
amended) in preference lo the Accounting and Reportlng by Charflies.. Statement of Recommended Practice Issued
on 1 April 2005 whl¢h Is referred lo In the extant regulallons bul has now b8en wllhdr8wn.
Thls has beèn done In order for the fflnancial statements to provhle a true and fair view in accordance wlth current
GenerallyAccepledALrtsuntlng Practlc8.
Use of our report
This report is rnade solèly to tho charlty's trustees, as 8 ts0(ty, In accordance with part 4 of the Charitfes (Accounts
and Reports) Regulallons 2008. Our audit work has been undertaken so that we might slate lo the charity's trustees
those matters we are requlr
10 slate to (hem In an audllor's report and for no other purpose. To the fullest gxtenl
pemitted by law, we do
ccepl or assume resptsnsibility to anyone other than the charity and the charity's
Ir slees as a body, for ou
work. for this report, or for the oplnlon8 W6 have fomied.
au
Kendall Wadlgy LLP
3 October 2024
Chartered Accountsnts
Statutory Auditor
Grants Lodg&
71 Graham Road
MatV8m
Worcestershlre
WR14 2JS
Kandall Wadlgy LLP is eligible for appolnlm8nt as auditor of the Congregation by ￿rtu6 of rts ellglbiSily for
appolnlmenl a8 audttor of a company under 88¢tion 1212 of the Companles Act 2006.

CONGREGATION OF PRIESTS OF THE SACRED HEART OF JESUS OF
BETHARRAM
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2023
Unr•¥trlctsd Unr68tr1cted
fund¥
fund$
general de8lgnatsd
2023
2023
Total Unrestricted Unresfrfcted
nds
fund8
g8neral deslgnated
2022
2022
Totsl
2023
2022
Notes
om&
ondowmonts from..
Donations and legacies
Charltable advlle8
Investments
Other income
206,198
40,753
92,747
3,289
206,198
40,753
92.747
3,289
200,493
43,364
9S,091
4,267
200,493
43,384
95,091
4,267
Totsl Incom
342,987
342,987
343,215
343,215
Ex •ndl
Raising funds
28,776
28.776
34,608
34.608
Charlt8ble a￿l￿￿e$
293,075
293.075
327,384
327.384
Total 0X￿n￿ltUre
321.851
321,851
361.992
361,992
Nel galnsll1088e81 on
Investments
13
103,029
103,029
(392.424)
1392,4241
Net
Incom￿(0xptrrtdItUr0}
124,165
124.165
1411.201)
{411,2011
Gross transfors betsjeen
fund8
14
362.713
1362,7131
360,328
(380,3281
Net movemgnt In fundg
486.878
1362.7131
124,165
(50,8731 (360.3281 1411,201)
Fund balances al I
January 2023
421.554 4,100,056 4,521,610
472,427 4,460,384 4.932.811
Fund balances at 31
Dgcembgr 2023
908.432 3,737,343 4,645,775
421,554 4,100.056 4,521.610

CONGREGATION OF PRIESTS OF THE SACRED HEART OF JESUS OF
BETHARRAM
BALANCE SHEET
AS AT31 DECEMBER 2023
2023
2022
Nots8
Flxèd a88•ts
Tangible a88els
Inv8Stments
16
16
901,445
2,835,898
926,976
3,173,080
3,737,343
4,100.056
Current a88et#
Debtor8
Investments
Cash al bank and in hand
9,657
50,000
881,044
433,071
940,701
441,619
Crgdltors: amounts fallSng due wlthln
on& ygar
20
132,2691
120,065
Ng1 current assets
908,432
421,554
Total ftet assets
4,845,775
4,521,610
In¢ome funds
Deslgnaled fund8
General unr88trided fiJnd$
21
3,737,343
908.432
4,100,056
421,554
4,845.775
4,521,610
The accounts were app
d by th TIu8tees on 3 October 2024
The Revergnd Anthony Madel
Trnsteè

CONGREGATION OF PRIESTS OF THE SACRED HEART OF JESUS OF
BETHARRAM
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 DECEMBER 2023
2023
2022
Notes
Cash flov•8 from 0￿rnting aGllvlllos
Cash absorbed by operatlon8
24
{32,464}
196,551}
In¥￿tIng actlvltl••
Purchase of tangibl8 fixed assets
Additions and disposal$ of fixed asset
Investments
Purchase of current asset Inve81menls
Drvidend8 and interest from inve51menl$
(2,S211
(593,1741
440,211
(50.0001
92,747
539,871
95,091
N•t cash g•n•ratsd from Inv•8tlng
a¢tlviti•$
480,437
41,788
Ngt In¢rDaMllde¢rga$o1 In ca$h and cash
8qulvalonts
447,973
{54,763}
Cash and cash equivalents at beginning of year
433,071
487,834
Cash and ¢a$h oqulvalents at gnd of ygar
881,044
433,071
10-

CONGREGATION OF PRIESTS OF THE SACRED HEART OF JESUS OF
BETHARRAM
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Accounting policles
Company infomiltion
Congr8gaUon of Priosls of the Saued Hoart of Jasus of Belhairam is a charmy reglslered In England & Wales,
number, 233335. The conlaet address is Granla Lodga, 71 Graham Road, Malvern Worc&slershire, ]NR14
2JS.
1.1 Accoundng ¢onventlon
The financial stslements have bo8n prepared in accordan¢8 wfth the cOngr￿ation'S governing document,
tha Charits'es Act 2011, FRS 102 "The Financial Reporting Standard applic8bl& In the UK and Republlc of
Ir8land fFRS 102.1 and the Charflies SORP "Accounting and Reporting by Charllies.. Statement of
Recommended Pradlcg applicable lo charlligs preparfng thelr accounts in accordance wllh the Finandal
Reporting Standard appllcable In the UK and Republlc of Iraland {FRS 102). leffe¢lfve 1 January 2019). Thg
Congrggauon Is a Public Benefit Enllty a8 defin¢d by FRS 102.
The finandal slalemenls have departed from Ihè CharKTe8 IA¢counls and Reports) Regulatlons 2008 only to
the extent required lo provlde a true and fair view. This departure has Involved following tho Statement of
Recommended Practice for charities apptying FRS 102 rather than th& vewlon of the Slatemenl of
Recommended PraGtieE whlch Is referred lo in the Regulations bul whlL* has slnce b68n wSlhdrawn.
Th8 Itnancial 8lalemenl8 are prepared In 8leTling, whrch Is the functional ¢urren¢y of the Congregatlon.
Monetary amounts In Ihese financAal statements are round8d Its the nearest £.
The accounts have been prepared on the hl8lorfcal ￿$t convenllon, modffied to include oertgin flnandal
Instruments al fair valuè. The prlncipal accountlng policies adopted ar8 set oyl balow.
1.2 Golng¢onc8rn
At the tlme ol approving the finan¢i81 slalements, tho Truslgas have a reasonable exp8clatlon that the
Congregation has adoqualo rgsourcas to continue in oporallonal exlslenoe for the foresegable future and th81
Ih9rg are no material uncertainties about ils liability lo continue. Thus the Twslees ¢onllnu8 lo adopt tha going
¢0￿M basis of Bccounling in proparing the financial slatemenls.
1.3 Charftsble funds
Unreslricled funds are available fgr use at thg discretion of the Trustees In furtherancg of thelr tharitable
oble¢tfves.
Deslgnated fund8 ￿mprISe funds whlch have been set asid@ al the dl$(yetion of the Truslegs for 8pec6fic
purposes. The purposes and use5 of the de8lgnaled funds are Bel out In fhe noley lo thg finan￿81 statements.
1.4 Incomg
Cash donallons are recognised on r8ceipl. Other donation8 are recognised once the Congregallon ha5 been
nolifled of the donauon, unless perforrnan¢e ¢ondilions require deferral of the amount. Income tax
recoverable in rolallon to donations received under Gift Aid or deeds of covenant Is recognlsed at Ihe tfme the
aim Is mad&.
Lggaues are recognised on receipt or olherwtse if the Congregation has been nolthad of an impending
d181rfbullon, the amount is known, and receipt Is expecled. If the amount Is not kr)own, tha legacy 18 treated as
a conllngant asset.
1.6 Expenditure
Expenditure 18 ￿CognISed In the perfod in whlth tt Is In¢urred. Expenditure indudes attributable VAT. whlch
cannot be recovered.
11

CONGREGATION OF PRIESTS OF THE SACRED HEART OF JESUS OF
BETHARRAM
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Aecountlng poll¢i
{Contlnuodl
Expendlture relallng lo charitable activities comprlse #ll expens&8 that are incutryed in the undertaklng of th6
arllablg aCti￿deS of the Congrogation.
Govemance costs Include direct and related support Gosts relating to the govemanca Snfroslructure allowlng
the Congregallon to gen8rate Infomallon rgqulred for publSc accountablllty.
1.6 TangibEe flxad assots
Tangible fixed assets ar& initially rneasur8d at cost and subsequently mgasur$d al co81 or v8luallon, nel of
deprecIa￿On and any Impalmenl108ses.
Depreciation Is recognised so as lo wtlte off the cost or valuallon of ass&ts l&ss Ihelr re8ldual vafues over their
useful IIv08 on the followlnu bases..
Land and buiklings
Property improvements
Computer equipment
Flxture8, flttlngs & equipment
Motor vehlclès
2tIA slralghl line
10Qk slr8Sghl Ilne
25°A Slralght lin9
10tsA lo 25Y• slralghl Iln8
25% ¥lrdlghl line
Th8 galn or loss arising on the disposal of an asset is determined as tha differenc& b&iween the sal6
proc6ed8 and the carrying value of the asset. and Is recognised In net incomdlexpendlturel for the year.
1.7 Flxed assot Invggtmonts
Fixed asset inve8lmen15 are Inllially measurefj at Iransacllon price exdudlng Iransadion costs, and are
sub8equenlty measured at fair valu& al èa¢h reporting datg. Chang6s in falr valug are recognised In the
81alement of financial actlvltle8. Tran8actlon costs are oxp8n8ed as incurred.
1.8 Impalm)ont of flxed a8tsots
Al each reportlng end dale, the Congregatlon rovlews the carrylng amounts of tts tanglble assets lo det8fmlne
whether there is any indication that those assets havè suffered an impaiTment 1055. If any suth indication
exists, the recoverable amount of the 888et is estlmaled in order lo determine the extent of the impairment
loss {rfany).
1.9 ¢•$h and ¢a8h equlvalents
Cash and cash equivalents include cash In hand, depo8118 held at ¢811 wrth banks and other short-term liquid
Inv8$lmen18 ￿th orfginal malurilia8 of three months or1888.
1.10 Flnanclal In$trumonts
The Congregauon has elected lo apply the provisions of Section 11 'Basl¢ Flnanclal Instruments, and Section
12'01her F1nan¢ial Instruments Is8U88' of FRS 102 to all of ils financlal Inslrurnenls.
Financial instruments are recognised in th6 Congregation's balance sheet whgn Iha Congregation be¢omgS
party lo Ihe oonlr3¢tual provlslons of the Instrument.
Flnancl81 as8els and Ilabililies are offset, with thè nel amounts presented in the financial stslemenls, when
Ihere18 a legally en10rr￿abI￿ right lo set off Ihe recognlsed arnounls and there Is an Irrtenllon 10 settle on a
net basis or lo re81i$o tho assal and sellle the Ilabilily $lmullan8ously.
12-

CONGREGATION OF PRIESTS OF THE SACRED HEART OF JESUS OF
BETHARRAM
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
A¢countin9 poll¢l¢•
(Continuodl
Basie financial assets
Basic financial as$els, which indude debtors and cash and bank balancgs, are inltfally measured at
transgction prlce Including Irgnsactlon costs and ar& 8ubsequenlEy carried al amortlsed cost uslng the
effectlve Snlerest method. Flnandal assets da8slfied as recelvabla wllhin ong year are not amortls¢d.
Bask flrtan¢lalllabllltles
8a8io financial liabllilies. Sncluding creditors are initialty recognlsed 81 IransatXSon prlce. Financlal liabilthas
assKled a8 payabla withln ong yegr are not amortS8ed.
Derecognitlon of finoncial Ilaljllitlès
Financial liabilities are derecognised when the Congregatton's contractU81 obllgalions exFMr• or are
distharged or ogncelled.
1.11 Employee b•nefits
Tha co81 of any unused holiday entitlement is recognised in the pgrlod in which the employee's service8 are
re¢8ived.
1.12 Rellrement beneflts
Payment$ lo defingd (*nlributSon retirement banefll 8¢hemès ara tharged as an expense as thgy fall d￿.
Crltlcal accounllng e8t5matas and Judgomonts
In the appli¢allon of tha Congregation's accounllng pollcles, the Trustees are required to make judgements,
e8llmales and as8umplSons about the car￿ng amount of assets and 1lab1ll￿es that are not readlly apparent
from olPFer sources. The eslimales and associated assumptlons are based on hlslodcal experien￿ and other
faolors that are consldored lo b& relevant. Actual results may dlffer from these esllmates.
The estimates and underlying assumptions are r¢va8wed on an ongoing basis. Réwslons lo accounting
eslimales are re¢ognlsed in the period in which tho oslimale Is r8vlsed where the revislon affects only that
perlod, or In the perlod of thè revlslon and future perfods where the rev18ion affècts both current and future
perfods.
Donatlon$ and l•gaclo¥
2023
2022
Donations ond glfts
2(6,198
200,493
Donation8 and ui
Chaplaincy fee5
Penslon8
Other
e9,411
107,274
29.513
56,826
93,062
50,605
206,198
200,493
13-

CONGREGATION OF PRIESTS OF THE SACRED HEART OF JESUS OF
BETHARRAM
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Charitablo *ctivith8
Ma88 Stlpend8Suppty Incomo Chrf8tma$ and
and 8tolo fe¢$
Easter
Off8rlnuB
Total
2023
Totol
2022
Charitabl8 activi11g$
8.090
17.846
15,017
40,753
43,364
For the year ended 310•cemb•r 2022
Unrestricted funds. general
8,095
16,223
19,046
43,364
Inve8tments
Genornl
2023
General
2022
Inoome from Ilsled Investments
Interest ro¢elvabl8
88,589
4,158
94,761
330
92,747
95,091
Other In¢omè
General
2023
Gonoral
2022
Other Income
3,289
4,287
Ralslng funds
2023
2022
Investment management fees
28,778
34.e08
14-

CONGREGATION OF PRIESTS OF THE SACRED HEART OF JESUS OF
BETHARRAM
NOTES TO THE FINANCIAL STATEMENTS ICONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Charltsblg a¢tlvltl•s
2023
2022
Staff pension costs
Depreciallon and impairment
Pri881s expenses
Piovlslons, dolhlng and laundry
Travalling motor 8xpenses
Telephon6
Slauonery, postag¢ and computer ¢onsumables
Nursing care. chemlsts, dentlsl
Pllgrfmage and retreat expen8es
Staff costs- domestic wage8
9,148
28,052
5,042
50,119
35,736
3,514
4,497
S,399
26,599
11.292
54,459
21,207
5,500
42,357
35,753
4,703
5,688
19,639
14,567
P- 11
Sundries
Bank charges
Holldays
Appoal and regionallg
Insuranr
Repalrs and malnlenanc6
General Council Rome
Donatlons, gifts and charity
Missions
Serwce tharges and uulrbes
6.827
1,120
2.820
250
4,146
2,525
12,000
2,291
42,078
4,458
8.804
1,299
3,061
200
3.905
1,258
20,340
228
51,503
257,713
298,133
Share of governance costs {se8 llole 91
35.362
29,251
293,075
327,384
Anatysl8 by fund
Unreylricled funds- general
293,075
327,384
293.075
327,384
Support costs alloeatsd tr* actlvlttos
2023
2022
Accountancy
Audll
Profe88lonal fegs
18,307
2.700
16.355
16,221
2,700
10,330
35,362
29,251
Govemance ￿$ts includes payments lo the auditors of £2,70012022- £2.7001 lor audlt fees.
1s-

CONGREGATION OF PRIESTS OF THE SACRED HEART OF JESUS OF
BETHARRAM
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
10 Tru8te•#
The Trustees of the Congr&galSon aro a180 member8 of the Order and a6 such have tsken vows of pov8rty
under whlch they have rgnounced all per80nal rights to income and capllal. The Charlty pro￿d9$ for the
e$$enllal needs of all rnembers of the Order within the Engllsh Vloarla18. The I￿l￿g c0818 of the Trustses are
therefore borne by the Congregation.
11 Employg•S
Numbor oftmployèe¥
The averag8 Month￿ number of employees durfng the year was..
2023
Numbèr
2022
Numbor
Employment oosts
2023
2022
Wages and salarles
(Xher pgnslon costs
11,292
9,148
14,567
54,439
20,440
69,026
Thgre were no employees whose annual remunerdlion was £80,000 or morg.
The trustees are deemed to be the key managemonl personnel and as noted above, whilst they rec6iv6 no
remuneration. Iheii living costs are borno by the Congregation, and includes contiibulions lo a pension plan
of £9,148 (2022- £54,459} which aro Ino)rporated in the above ffigures.
12 Rgtlrem9nt bonoflt 8chgmg$
2023
2022
Defined conttibution schemes
Charge lo or loss In resped of defined contribution schemes
9,148
54,459
The Congregation operates a defined contribullon penslon scheme for all qualifying employees. The assets of
the $¢heme aro held separately from those of tha Congregatlon in an indapendendy admlnlslered fund.
13 Net galn8lllosse81 on Invesfments
2023
2022
Rsvalualion of inv8Stmenls
103.029
1392,4241
16

CONGREGATION OF PRIESTS OF THE SACRED HEART OF JESUS OF
BETHARRAM
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
14 Transfern
Durfng the year £362,713 has b8en transferrèd from designated fund8 to unre81rfcted fund8 lo malnlaSn th8
correL* level of de8ignaled funds.
18 Tanglblg flxgd a$¥gts
Land and
Prop•ty
bulldkngB Imwovèm•nls
Computer
oqulpment
FFthro8,
ftttlng8 &
oqulpm9llt
Motor
vehl¢k8
Cost
At 1 January 2023
Addition8
1,175,872
19,560
S,342
1,750
50.058
771
55,137 1,308,969
2,521
At 31 D8C8mber 2023
1.175,872
19.580
10.092
50,829
55,137 1,311,490
Depreclation and
Impalm)ent
At 1 January 2023
Depreclauon charged In Ihg
yèar
265,370
11,094
7.953
43,103
54,473
381,993
23,286
1.957
584
1,561
28,052
Al 31 Dgc•mber 2023
288,656
13,051
8,537
44,864
55.137
410,045
Carrylng amount
At 31 December 2023
687,216
6,509
1,555
6.165
901,445
Al 31 D8cemb8r 2022
910,502
8.486
389
6,955
926,976
16 Flxod 088ot Inv98tsnonts
Listed
Inv•stments
Cash In
portfollo
Total
C05t or valuation
Al 1 January 2023
Addillons
Valuation changes
Ca8h diawn out
Ac¢umulaled Income
Dlsposals
Portfollo management fee
2,784.478
301.698
101.458
388,602
1300,125}
3,173,080
1,573
101,45e
{￿,025)
88,590
{500,0251
88,590
375,307
128,776)
<375,3071
128,778}
Al 31 De￿mber 2023
2,812,325
23,573
2,835,898
17 Flnancial in$trnrnonts
2023
2022
Carrylng amount of flnanclal a88ets
Instruments measured at lalr value through proft or1088
2,812,325
2,784,478
17-

CONGREGATION OF PRIESTS OF THE SACRED HEART OF JESUS OF
BETHARRAM
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
18 Debtors
2023
2022
Amount8 falllng duo wlthln one yèar.
Prepayments and accrued income
9,657
19 Current as$•t InYo$tm&nts
2023
2022
Money Market dep0811
50.000
20 Crnditor8: amounts tralllng due wlthln ong year
2023
2022
Accruals and deferred inoomo
32,269
20,065
21 Do$lgnatod fund$
The unreslrfcted funds of the ¢harty comprlse the unexpended balances of Ilon8llon8 and grants whleh are
not subject to specific condilions by donors and grantOTS as to how they may bè used. These include
designalod fundy which havè been Sel aside out of unrestricted funds by the Iruslee3 for speafi'c purposes.
Balanc• at
1 January 2022
Tran8fer8
Balan¢0 at
1 January 2023
Transfors Balan¢0 at
31 Dgcomboi
2023
Tangible fixed assets
Inve8lrnenls
355,009
4,105,375
571,967
926,976
{932,295} 3,173,080
12S,5311
901,445
1337,1821 2,835,898
4.460,384
1360,328) 4,100,066
(362.7131 3,737,343
18-

CONGREGATION OF PRIESTS OF THE SACRED HEART OF JESUS OF
BETHARRAM
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED
FOR THE YEAR ENDED 31 DECEMBER 2023
22 Anatysl8 of not a&$ots belweon funds
Unr•gtrfcted Unre8tr1ctod
funds
fund¥
general De8lgnated
2023
2023
Total
2023
At 31 Dec•mbgr 2023:
Tanglb18 assets
Investments
Currant assels/Olabilthe51
901,445
2,835.898
901,445
2.835,898
908,432
908,432
908,432
3,737,343
4,645,775
Unr•8trlcted Unrestiictsd
fund$
fund¥
goneral Doslgnatgd
2022
2022
Total
2022
At 31 Decèmber 2022:
Tanglblo ass&l8
Investments
Current a88etsllllabllllle81
926,976
3,173,080
926.976
3,173,080
421.554
421,554
421,554
4,100.058
4.521,610
23 Relat￿ party tran8actlons
There were no dlsdo$able relÈled party tran8a&ion8 during the year12022- nonè}.
24 Cash g•n•ratod from opgrations
2023
2022
Surpluslldeflclll for the yèar
124,186
(411.2011
Adjustments for..
Investment income rè¢ognl8&d in slatem&nl of financial actwibes
Fair value galns on Investments
DepreLxallon 8nd Imp8lrmenl of langlble fixed ass8ts
192,74n
1103,0291
28,052
195,0911
392,424
21,207
Movements in worknng capital=
Ilncreasel in debtors
Increaselldgcreasel in creditor8
11,109)
12,204
{3,4031
14871
Cosh ab80rbèd by opèratlon8
132,464}
198,551)

CONGREGATION OF PRIESTS OF THE SACRED HEART OF JESUS OF
BETHARRAM
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
25 Analy¥l8 of changes In net fund#
The Congregation had no material debt durfng the y¢ar.
-20-