CONGREGATION OF THE PASSION OF JESUS CHRIST Charity no. 234436 – in St Patrick’s Province
ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED
31[ST] DECEMBER 2023
Charity Number 234436
Jacob Cavenagh & Skeet Chartered Accountants 5 Robin Hood Lane Sutton, Surrey SM1 2SW
CONGREGATION OF THE PASSION OF JESUS CHRIST Charity no. 234436 – in St Patrick’s Province
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31[ST] DECEMBER 2023
| Contents | Page |
|---|---|
| Report of the Trustees | 1-10 |
| Report of the Independent Auditor | 11-13 |
| Statement of Financial Activities | 14 |
| Balance Sheet | 15 |
| Cash Flow Statement | 16 |
| Notes to the Financial Statements | 17-25 |
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CONGREGATION OF THE PASSION OF JESUS CHRIST Charity no. 234436 – in St Patrick’s Province
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31[ST] DECEMBER 2023
The trustees present their report and audited financial statements for the year ended 31[st] December 2023. The financial statements have been prepared in accordance with the Charities Statement of Recommended Practice (Charities SORP (FRS 102)) and Financial Reporting Standard 102 (FRS 102). The financial statements are drawn up on the historical cost basis of accounting, as modified by the revaluation of investments, and comply with the Trust Deed and applicable law.
Legal and administrative information
Management Committee/Trustees
The Charity’s Trustees are members of the Provincial Council. They are:
Fr. Mark White Trustee Fr. James Sweeney Provincial Fr: Martin Newell Trustee Fr. Francis Keevins Trustee (Bursar) Appointed 16 August 2023
The Provincial Council provide executive leadership during their term of Office and implement policy decisions discussed and voted upon at Chapters and Assemblies. As such the Provincial Council are considered the key management personnel of the charity. The XVI General Synod of the Passionist Congregation which was held in Rome in September 2022 decided to ratify an intention to amalgamate the Passionist Province in England and Wales with the Passionist Province in Scotland and Ireland. The Inauguration was formally declared on 21 November 2022. This will be a lengthy process and may take several years to conclude.
With the support of external management consultancy, the amalgamated Province is undertaking a systematic Province Review in 2023 and 2024 which will consolidate the integration of the former St Joseph’s and St Patrick's Provinces, articulate a practical and unifying Vision of the Passionist life and mission of the integrated province; and provide a sustainable basis for continued Passionist life and mission in these countries. The England & Wales Charity: The Congregation of the Passion of Jesus Christ (234436) will continue in its current structure, management and remit for the duration of 2024 and 2025.
Charityl Secretary Mr John Thornhill
Principal address
The Retreat, 3 Sea Street, Herne Bay, Kent CT6 8SP
Office address
Congregation of the Passion, St. Peter’s Centre, Charles Street, Coventry, CV1 5NP
Charity registration number 234436
Auditors
Jacob Cavenagh & Skeet, 5 Robin Hood Lane, Sutton, Surrey SM1 2SW
Investment Managers
Sarasin & Partners LLP, Juxon House, 100 St Paul’s Churchyard, London EC4M 8BU Rathbone Greenbank Investments, 10 Queen Square, Bristol BS1 4NT
Solicitors
Sintons LLP, The Cube, Barrack Road, Newcastle Upon Tyne NE4 6DB
Bankers
CAF Bank Ltd., 25 Kings Hill Avenue, Kings Hill, West Malling, Kent ME19 4JQ
Insurers
Allianz Insurance plc, 1 Wellington Place, Tower Square, Wellington Street, Leeds LS1 4AJ
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CONGREGATION OF THE PASSION OF JESUS CHRIST Charity no. 234436 – in St Patrick’s Province
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31[ST] DECEMBER 2023 (continued)
Structure, Governance and Management
Constitution
The property of the Charity is vested in a trust, governed by a declaration of Trust dated 2 February, 1954.
Appointment and induction of Trustees
The Charity’s leadership team (Provincial Council) is elected by members within a four-year cycle at a Provincial Chapter. James Sweeney, Mark White, Martin Newell and Francis Keevins are currently trustees of the registered charity: the Congregation of the Passion of Jesus Christ (234436). The next Provincial Chapter will be held in June 2025.
Key management personnel
St Patrick’s Provincial Council has assumed canonical responsibility for all matters relating to the integrated Province (personnel, properties, finance, etc). It has established an Expanded Provincial Council. The Charity’s Trustees are members of the Provincial Council and these include James Sweeney, Mark White and Martin Newell. Francis Keevins is the Province Bursar.
Trustees of the registered charity 234436 participate actively on all matters relating to the integrated province. The legal trustees of charity 234436 will continue to function within the framework of the Expanded Provincial Council.
The key management personnel of the charity as listed above are responsible for the running of the charity on a day-to-day basis. All members give their time freely and no member received any remuneration in the year, including reimbursement of expenses incurred in the normal course of the charity’s operations. John Thornhill who is employed as Trust Administrator continues to provide administration for registered charity 234436 under the oversight of the trustees.
The pay of all staff is reviewed annually and normally increased in accordance with average earnings.
Risk management
The trustees believe they are aware of the major risks to which the charity is exposed and that controls are in place to mitigate them. A Risk Register is in use, and we aim for robust management oversight. The Risk Register is presented to Trustees for oversight. In addition, with the support of external management consultancy, the amalgamated Province is undertaking a systematic Province Review in 2023 and 2024 which will examine all aspects of organisation, resources and action and this will provide a strategic basis for a sustainable Passionist future in the British Isles.:
The trustees consider the principal risks and uncertainties facing the charity 234436 to be:
- I. Amalgamation of St. Joseph’s Province with St. Patrick’s Province in 2022. This amalgamation will strengthen both religious entities by combining expertise, personnel and resources. In the short term there are no plans to change the structure of charity 234436 which formally sat under the religious Province of St. Joseph’s.
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CONGREGATION OF THE PASSION OF JESUS CHRIST Charity no. 234436 – in St Patrick’s Province
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31[ST] DECEMBER 2023 (continued)
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II. New safeguarding structures for the Catholic Church : In 2021 the Catholic Church in England and Wales has adopted a common set of national safeguarding standards. Catholic religious organisations are now required to account for safeguarding through the Catholic Safeguarding Standards Agency (CCSA). The Religious Life Safeguarding Service (RLSS) replaced diocesan structures to support religious congregations’ safeguarding capacity. In December 2021 Suzanne Phelan was appointed on a consultancy basis as the new safeguarding representative for the charity. The amalgamated Province has a Safeguarding Board consisting of Trustees, staff and advisors which reviews progress.
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III. Selling surplus property : Since the amalgamation of the two Provinces, it has been decided to sell surplus properties owned by charity 234436 which no longer fulfilled the mission and objectives of the charity and the new Province.
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I. Jacaranda at the Circus in Herne Bay was sold on 21 October 2022 for £401,000 (net sale proceeds £393,314).
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II. In July 2022 Fr. David Williams died and his home, 9 Riverdale Gardens, was put up for market sale. This was completed on 12 July 2023 for £265,000 (net sale proceeds £259,540).
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III. In 2022 the Sisters of Mercy withdrew from the running of St. Non’s Retreat Centre in Pembrokeshire. On 13 November 2023 St Non’s Retreat Centre was sold to the registered charity the Archdiocese of Cardiff (1177272) for £349,284.32 (net sale proceeds £347,457).
There are no plans to sell property in 2024. The charity is aware that these property sales represent a decreasing asset value of the charity – but these properties no longer meet the mission and objectives of the charity. Their sale proceeds have been employed to meet the charitable purposes of the charity.
- IV. Decreasing value of Sarasin Investment Fund Portfolio : The trustees recognise that charity investments in the Sarasin Fund have declined over the past 12 months. The Portfolio Value of the Sarasin Fund as of 31st December 2022 was £3,075,935. This declined to £2,674,367 as of 31st December 2023. In 2023, £550,000 was withdrawn from the Sarasin fund by the charity to fund charitable activities. This is a deliberate strategic decision on the part of the trustees to fund the objectives of the charity through the Sarasin fund whilst securing the Rathbones fund which has a greater ecological focus. Estimated fund income from the Sarasin Portfolio in 2024 is £ 57,897 (2.5%). The Portfolio Value of the Rathbone Fund value as of 31st December 2022 was £2,742,715 and this had increased to £2,859,798 as of 31 December 2023. Estimated income from the Rathbone fund for 2024 is £53,105.
Trustees continue to take the professional advice of our fund managers. The conclusion of 2023 saw a notable up-swing in both equity and bond markets, positively impacting the returns in our Sarasin portfolio for the last quarter. During the last quarter of 2023, our Sarasin portfolio increased by 6.4% in line with the composite benchmark. This delivered an 8.2% return for 2023. For 2024 our fund managers are anticipating lower inflation, and lower growth, with a marginal chance of global recession which would ease pressure on interest rates. Of greatest concern are the economic shocks which might be afforded by the Israel-Hamas war, extending to shipping in the Red Sea. The stalemate in Ukraine looks set to remain. There are also a number of political elections in 2024.
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CONGREGATION OF THE PASSION OF JESUS CHRIST Charity no. 234436 – in St Patrick’s Province
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31[ST] DECEMBER 2023 (continued)
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V. Grant funding, including funds sent abroad, are applied, monitored and reviewed appropriately. The charity continues to work towards making improvements in the administration, decision making, monitoring and evaluation of grants.
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a. A Passionists Grants Policy and Procedure document was produced in 2021.
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b. The Passionist Grants Panel (PGP): The Passionist Grants Panel (PGP) is allocated a budget of £125,000 annually to issue small grants. They award grants on projects with a faith in action and social cohesion focus. In June 2023 Sr. Maureen McNally stepped down as the Chair of the Passionists Grants Panel (PGP) and she has been replaced by long-term panel member Margaret Thelwell. Sheena Gault, and Trust Administrator, John Thornhill, have also been appointed to the PGP. When funding is awarded, there is a requirement on the part of the charity that the successful applicant will forward a report to the PGP on how that funding has helped them, within a year of it being received. There have been significant improvements in 2023 in reports submitted on time. All grants issued are monitored and reported on.
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c. Grants: grants including Partner payments, extraordinary grants, grant panel small grants and emergency grants totalled £803,269 in 2023. These are analysed in Note 6.
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d. Overseas grants: In 2023 grants were made to the following projects overseas: Learning Refuge, Paphos, Cyprus – Learning and family support for families - £13,140 Soeurs Passionistsis – DRC (Congo) – Primary School - £11,261
- A renewed Partner grant of £6,000 to Calais Catholic Worker (Maria Skobtsova House)
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e. Monitoring The Passionists keep a grant monitoring schedule which is monitored and up-dated regularly.
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VI. Fundraising: In line with the reporting requirements included in the Charities Act 2016 the Trustees confirm that all fundraising is done in compliance with best fundraising practice. All fundraising activities follow traditional methods within the Catholic Church which have been recognised as ethical for many years. During 2023 we did not employ any professional fundraisers. There were no complaints or criticisms during the year about our fundraising activities.
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VII. Home Office and UKVI Inspection: The charity has been subject to monitoring and review issues concerning its function as a sponsor of over-seas workers:
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a) The Home Office conducted a successful short-notice UKVI inspection on the charity on 25th May 2023. The visit was a compliance visit: to ensure as employers both of UKVI visa staff and also employers of GB and Irish workers, we comply with UK right to work rules. It also aimed to ensure UK Visa holders (two in total both based at Minsteracres) are legitimately employed and that the charity complies with Home Office rules concerning the issue of their visas.
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b) UKVI have extended the Sponsor Licence dates for Charity 234436 (Licence start date 7 April 2015. Licence end date 6 April 2027).
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c) In 2023 the NI/Scottish Passionist Province sponsor licence was successfully incorporated into that held by charity 234436.
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CONGREGATION OF THE PASSION OF JESUS CHRIST Charity no. 234436 – in St Patrick’s Province
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31[ST] DECEMBER 2023 (continued)
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VIII. Impact of environmental change: In line with our increasing commitment to environmental matters and recognising the climate emergency, the charity is taking steps to implement some of the recommendations of environmental consultant Phil Beardmore who completed a charity environmental audit in 2021. For 2023 this included:
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A. Completion of environmental works at 70 Sherringham Avenue in London (Martha House). Trustees recognize that this has been a difficult and complex project exacerbated by the aftermath of the Covid19 pandemic. It ran considerably over budget with expenditure in 2021 and 2022 totaling £232,938.
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B. Insulation and the installation of an Air Source Heat Pump & Immersion system 96 Ivor Road (Austin Smith House) in Birmingham. This will be in part funded via the UK Boiler Upgrade Scheme (BUS0000778 Boiler Upgrade Scheme (BUS).
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C. Progress with plans to undertake environment upgrades to the Retreat at Herne Bay. The preplanning assessment process has revealed a number of issues because the building is Grade 2 listed. The most significant question arising is the feasibility of internal wall insulation on this listed building and the time-scale for the completion of this work, which may not be in 2024.
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IX. Support for Minsteracres Retreat Centre: in 2023 substantial grants were again made to Minsteracres Retreat Centre. These totalled £279,125 in 2023.
For 2024 a decision has been made to offer additional financial support for Minsteracres. including a £250,000 ministry support grant and £144,000 in additional capital costs. The trustees continue to review costs associated with Minsteracres but remain committed to supporting the retreat centre in the immediate term because it is a key site of Passionist presence and mission in the UK.
Organisational structure
The Trustees manage the charity and meet several times during the year.
Objectives and Activities
Aims of the Congregation
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The Passionist Congregation is especially devoted to spreading knowledge of the Passion of Christ. Its members take a vow so to do. The founder, St Paul of the Cross, gathered companions to live in community to proclaim the Gospel to all.
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The Congregation aspires to have a preferential option for the poor. One way in which this is expressed is through work alongside individuals and groups marginalised in society today. Pope Francis has made this option for the poor a central message of his papacy and therefore has reaffirmed this ethos for the Congregation.
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In line with recent guidance, we are increasingly aware of environmental issues, and have adopted policies which reflect this growing concern.
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The ministries of the Charity include working in parishes, counselling, and spiritual direction, raising awareness of key people and themes in Passionist history, inner city ministry, residential Retreat Centres and Houses of Hospitality for the homeless.
The four long term strategic objectives of the charity remain in place:
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To keep alive the memory of the love and mercy of God, as seen in the Passion of Jesus Christ, and to enact the practical outreach which stems from this first aim.
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Continue to provide for the spiritual and material needs of our membership.
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Ensure existing ministries continue by seeking partnerships with others or handing them on to others, as appropriate.
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Explore new ways of standing alongside “the crucified ones” - people who are poor, suffering or marginalised; and “the crucified earth,” our common home which is threatened with environmental crisis.
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CONGREGATION OF THE PASSION OF JESUS CHRIST Charity no. 234436 – in St Patrick’s Province
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31[ST] DECEMBER 2023 (continued)
Public Benefit
Trustees have had regard to Charity Commission guidance on public benefit, set out in section 4 of the Charities Act 2006, and we consider that all our work complies, in very tangible ways, with the concept of public benefit. Trustees are convinced the work of its membership fulfils the criteria of public benefit and that significant impact is attained through our direct work and the work we support through others.
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A. For example, the “Community of the Passion” are a group of people who share our values and concerns and who work with those who are poor and suffering in various ways e.g. homeless people, those suffering from dementia, in health care, in environmental concern and in general issues of social justice and world peace. The Charity continues to provide resources in terms of grant funding to ensure that this initiative continues to develop.
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B. The charity supports several key organisations called Passionist Partners. In 2023 we provided the following partner support grants: Catholic AIDS Prevention and Support (CAPS) (£50,000); London Catholic Worker (£20,000); Catholic Worker Farm (£20,000) plus £100,000 additional support; Calais Catholic Worker (£6,000); Independent Catholic News (£20,000); the Vestibule; London Mining Network (£20,000); Green Christian (£12,000); and Reformed (£20,000). In 2024 a review process has begun for the Passionist Partner programme.
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C. In Herne Bay parish in Kent, public benefit occurs in many ways. Parish volunteers engage in many public benefit activities such as caring for and visiting sick, elderly and disabled people. The parish hall is frequently used as a venue to promote local charities.
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D. For many years the charity has engaged in local community-based activities. Members continue to live and/or work in socially deprived neighbourhoods in Liverpool and London. In these projects members engage directly in a wide range of community and social activities. For example, accommodation, advice, practical support and advocacy is provided for asylum seekers, some of whom are destitute; partnership with local community educational and social programmes; and encouraging others to take up similar work on behalf of the poor and marginalised.
Trustees remain determined to maintain and develop these and similar projects in the future for public benefit.
Achievements and Performance
The main achievements during 2023 have been:
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A. Amalgamation with St. Patrick’s Province: The successful amalgamation of the religious province of St. Joseph’s with St Patrick's Province (currently the Irish/Scottish Province) which was confirmed in September 2022 by the XVI General Synod of the Passionists and work towards integrated strategy and working continues.
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B. Environmental improvements : Concluding a programme of physical and environmental improvements to charity properties including 70 Sheringham Avenue, London, 96 Ivor Road in Birmingham and the Retreat at Herne Bay.
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C. Charity grant giving to meet aims and objectives: Continuing to use financial resources to support Province objectives, for example through the Province Grants Panel (PGP), the Community of the Passion, and the Passionist Partners.
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D. Insurance Revaluation of charity properties: In 2022 and 2023 properties owned by the charity were revalued for insurance purposes.
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CONGREGATION OF THE PASSION OF JESUS CHRIST Charity no. 234436 – in St Patrick’s Province
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31[ST] DECEMBER 2023 (continued)
E. Establishment of an amalgamated Province Review Process for 2023 and 2024
With the support of external management consultancy, the amalgamated Province is undertaking a systematic Province Review in 2023 and 2024 which will consolidate the integration of the former St Joseph’s and St Patrick's Provinces, articulate a practical and unifying Vision of the Passionist life and mission of the integrated province; and provide a sustainable basis for continued Passionist life and mission in these countries.
The specific aims include reviewing and discerning present ministries, locations, personnel, adopting a ‘synodal’ approach to Passionist life, work and mission; and establishing a strategic plan for our transition to becoming a numerically smaller (but eventually stable) amalgamated Province.
This involves the establishment of Coordinating Groups, Advisory Groups and Steering Groups to gather relevant information and identify practical matters for consideration focusing on the following strands:
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STRAND 1: Community – Aims to discern on emerging consultation findings relating to life in community, community locations and resources, to validate information and discern emerging options and possibilities; and to encourage ‘one-Province/global’ thinking rather than just local.
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STRAND 2: Ministries – Aims to discern on emerging consultation findings relating to mission and ministry, personnel and resources, to validate information, articulate ‘how we understand mission’ and discern emerging options and possibilities for a vision for mission and ministry into the future; and to encourage ‘one-Province/global’ thinking rather than local.
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STRAND 3: The Passionist Family – Aims to discern on emerging consultation findings relating to Passionist Family involvement, to create an initial level of coherence amongst the various strands of Passionist Family; and to assist in organising pre-Chapter Assemblies of the Passionist Family (in Crossgar and Minsteracres).
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STRAND 4: Advisory Groups for Special Topics – Aims to investigate particular issues and feed into the overall review process, researching factual information, making recommendations as appropriate including (A) Province Legislation, (B) civil governance: i.e. trusts, charities, compliance, etc; (C) Finance: procedures with the aim of determining policy and procedures regarding finance to be implemented consistently across the Province; (D) Policies: including Ministerial Standards, and Safeguarding; (E) Employment: with the aim of reviewing contractual relationships in the Province and determine best practice and management; (F) Minsteracres Retreat Centre Trust (MRCT): with the aim of reviewing the Province-Trust relationship and assessing the mission of Minsteracres and its needs; (G) Formation (initial, and ongoing, for the Passionist Family); (H) Media and Communications: with the aim of developing a Communications Policy.
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F. Sale of St Non’s Retreat Centre - St Non’s Retreat Centre was sold to the registered charity the Archdiocese of Cardiff (1177272) for £349,284 in November 2023. This represented an important ‘handing-on’ of a missional asset to another faith-based charity which will continue Christian mission in this area.
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CONGREGATION OF THE PASSION OF JESUS CHRIST Charity no. 234436 – in St Patrick’s Province
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31[ST] DECEMBER 2023 (continued)
Financial Review
A summary of the year’s results can be found on page 14. Total income was £408,338 for 2023, compared to £590,151 for 2022. As in previous years, income has arisen from charitable activities. Investment income has supplemented the charitable and voluntary income.
During the year, the Charity incurred expenditure amounting to £1,431,018 (2022: £1,530,497). Costs relating to supporting members and their ministry are included in charitable expenditure. The majority of expenditure comprises grants and donations as set out in Note 6.
Investment gains for 2023 totalled £288,746 (2022: losses of £1,152,290).
Reserves policy
After deducting restricted reserves, the accounts show unrestricted reserves of £11,992,155 (2022: £12,693,938). £6,021,090 of this amount has been designated as shown in note 16 of the accounts (2022: £6,521,102). Free reserves available for current use, and not invested in fixed assets and investments, are £382,877 (2022: £325,748).
The designated funds are held for the purposes stated in note 16 to the accounts. The property fund represents, and separates, the value of the charity’s functional property. The timing of expenditure for other designated funds will be spasmodic as and when relevant needs arise.
The amount of reserves available is considered by the Trustees to be adequate but not excessive taking account of our objectives.
Investment policy
The charity holds portfolios of investments managed on a discretionary basis by two independent investment managers. As shown in the accounts, at the end of 2023 the market value of the investments was £5,534,166 (2022: £5,818,651), including short term cash deposits held by investment managers. The Trustees are aware that this value may fall as well as rise and that the realisable value may be less than the market value quoted in the accounts.
The trustees consider that the performance of the investment portfolios is satisfactory this year.
There are no restrictions on the Charity’s power to invest. The charity has made such investments to generate a return.
The investment managers operate within specific, ethical guidelines which are set out and reviewed periodically by the Trustees. The investment managers’ objectives are to maximise total return through a diversified portfolio, whilst providing income, as required by the Trustees from time to time.
Investment managers regularly report to and meet with the Trustees to review the portfolios.
Grant-making policy
All requests for Grants from us are considered on the basis of the applicant's activities being in harmony with the objectives of our charity, as given above.
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CONGREGATION OF THE PASSION OF JESUS CHRIST Charity no. 234436 – in St Patrick’s Province
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31[ST] DECEMBER 2023 (continued)
Plans for the Future
During 2024 the charity will:
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a. Endeavour to keep alive the memory of the love and mercy of God, as seen in the Passion of Jesus Christ, and to enact the practical outreach which stems from this first aim.
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b. Continue the process of amalgamating the two Provinces with a focus on a coherent strategy, embedding a common culture whilst respecting differences and fostering fraternity and consolidating resources.
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c. Continue to place safeguarding at the heart of what we do.
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d. Continue to respond to the climate emergency with the aim of supporting climate emergency initiatives.
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e. Continue the professional care of the elderly brethren.
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f. Continue to promote our aims through collaboration with others working alongside us and sharing our ethos and objectives including Passionist Partners and the Community of the Passion.
In terms of consolidating the process of amalgamation, the Province will:
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a. Convene joint Working Groups to focus on Finance and Safeguarding which will continue operating in the first six months of 2024.
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b. Begin the process of examining civil law implications and requirements regarding the integrated province. This will require professional management, financial and legal advice.
Auditors
Teresa Nugent will be acting as the auditor for the year ended 31[st] December 2024 which will take place in accordance with the Charities Act 2011.
Trustees’ Responsibilities
The trustees are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgments and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
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CONGREGATION OF THE PASSION OF JESUS CHRIST Charity no. 234436 – in St Patrick’s Province
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31[ST] DECEMBER 2023 (continued)
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. 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.
Employees, volunteers and members of the Congregation
The Trustees wish to put on record their appreciation of the support, commitment and exceptional efforts of all staff, volunteers and members of the Congregation. Their dedication and enthusiasm have contributed greatly to the Charity’s achievements this year.
Approved by the Trustees on 3 October 2024 and signed on their behalf by
Fr. Mark White Trustee
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CONGREGATION OF THE PASSION OF JESUS CHRIST Charity no. 234436 – in St Patrick’s Province
REPORT OF THE INDEPENDENT AUDITOR TO THE MEMBERS OF THE CONGREGATION OF THE PASSION OF JESUS CHRIST Charity no. 234436 – in St Patrick’s Province
Opinion
We have audited the financial statements of The Congregation of the Passion of Jesus Christ (the “Charity”) for the year ended 31 December 2023 which comprise of the Statement of Financial Activities, Balance Sheet, Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. 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).
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In our opinion, the financial statements:
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give a true and fair view of the state of the Charity’s affairs as at 31 December 2023 and of its income and expenditure for the year then ended;
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;
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have been prepared in accordance with the requirements of the Charities Act 2011.
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 Charity 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 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.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Charity’s ability to continue as a going concern for a period of at least 12 months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
Other information
The other information comprises the information included in the annual report, including the trustees’ report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual 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.
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 course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. 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.
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CONGREGATION OF THE PASSION OF JESUS CHRIST Charity no. 234436 – in St Patrick’s Province
REPORT OF THE INDEPENDENT AUDITOR TO THE MEMBERS OF THE CONGREGATION OF THE PASSION OF JESUS CHRIST Charity no. 234436 – in St Patrick’s Province (continued)
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the Charity and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees’ report.
We have nothing to report in respect of the following matters in relation to which the Charities Act 2011 requires us to report to you if, in our opinion:
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the information given in the financial statements is inconsistent in any material respect with the trustees’ report; or
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sufficient accounting records have not been kept;
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the financial statements are not in agreement with the accounting records; or
-
we have not obtained all the information and explanations necessary for the purposes of our audit.
Responsibilities of the trustees
As explained more fully in the trustees’ responsibilities statement set out on page 9, the trustees 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 Charity or to cease operations, or have no realistic alternative but to do so.
Auditor’s responsibilities for the audit of the financial statements
We have been appointed as auditor under section 144 and report in accordance with the Act and relevant regulations made or having effect thereunder.
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 statements.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.
Based on our understanding of the charity, we identified that the principal risks of non-compliance with laws and regulations related to employment and financial reporting legislation and we considered the extent to which noncompliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Charities Act 2011.
We assessed the susceptibility of the charity's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by making enquiries of management, considering the internal controls in place and discussion amongst the engagement team.
(13) CONGREGATION OF THE PASSION OF JESUS CHRIST Charity no. 234436 - in St Patrick's Province REPORT OF THE INDEPENDENT AUDITOR TO THE MEMBERS OF THE CONGREGATION OF THE PASSION OF JESUS CHRIST Chanty no. 234436 - in St Patrick's Province (continued) We delemiined that the principal risks were related lo management bias in accounting estsmates. presentation of separately disclosed ilems and management override of controls. In sponSe to the risks idents'fied we designed procedu$ which included, but were not limited lo challenging significant accounting estimates, agreeing financial statement disctosures to underlying supporting documentation, evaluating the intemal controls, reviewing Iruslees, minutes and identifying and testing Joumal entnes. There are inherent limitations in the audit procedures described above. The ffre removed that law5 and regulations are from financial Iransaclions, the less likely rt is that we would become aware of non<ompliance. Malenal misststements that arise due to fraud can be harder to delect than those that arise from error as they may involv8 deliberate concealment or collusion. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website al.. www.frc.org.ukjauditorsfesponsibililies. This description fomis part of our auditor's report. U80 of our report This port is made solety lo the Chanty's trustees. as a bcxjy. in accordance Part 4 of the Charities (Accounts and Reports) Regulations 2008 Our audit work has been undertaken so that we might stsle to Ihe Charity's Iruslees those matters we are required lo stale to them in an audilorfs report and for no other purpose. To the fullest exlenl permitted by law, we do not accept or assume responsibility lo anyone other than the Charity and the charity's Iruslees as a body. for our audit work, for this rep)rt, or for the ow'nn8 we have forna. J•cob Cavenagh & Sk••t Statutory Audltor Chartered Accountsnt• 5 Robin Hood Lane Sutton Surrey SM12SW Dated.. J8cob C8v6nagh & Sk8et eligible forappointment as auditoroflh8 Charity by witue of ils eligibility forappointmenl as auditor of a company under section 1212 of the COmpanS Act 2006
(14)
CONGREGATION OF THE PASSION OF JESUS CHRIST Charity no. 234436 – in St Patrick’s Province
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31[ST] DECEMBER 2023
| Note Income from: Donations and legacies 2 Investments 3 Other income 4 Total income Expenditure on: Raising funds: Investment management expenses Fundraising costs Charitable activities: Support of members of the Congregation and their ministry 5 Grants and donations 6 Total expenditure Gains/(losses) on investments Net expenditure Reconciliation of funds Funds brought forward at 1stJanuary 2023 Funds carried forward at 31st December 2023 |
Unrestricted Restricted Total Unrestricted Restricted Total Funds Funds Funds Funds Funds Funds 2023 2023 2023 2022 2022 2022 |
|---|---|
| £ £ £ £ £ £ 98,209 - 98,209 248,146 - 248,146 133,390 - 133,390 165,487 - 165,487 176,739 - 176,739 176,518 - 176,518 |
|
| 408,338 - 408,338 590,151 - 590,151 |
|
| 20,108 - 20,108 19,964 - 19,964 - - - 783 - 783 602,986 - 602,986 618,084 - 618,084 807,924 - 807,924 891,666 - 891,666 |
|
| 1,431,018 - 1,431,018 1,530,497 - 1,530,497 |
|
| 290,897 (2,151) 288,746 (1,136,722) (15,568) (1,152,290) |
|
| (731,783) (2,151) (733,934) (2,077,068) (15,568) (2,092,636) 12,693,938 37,933 12,731,871 14,771,006 53,501 14,824,507 11,962,155 35,782 11,997,937 12,693,938 37,933 12,731,871 |
The charity has no gains or losses other than those shown above.
(15)
CONGREGATION OF THE PASSION OF JESUS CHRIST Charity no. 234436 – in St Patrick’s Province
BALANCE SHEET AS AT 31[ST] DECEMBER 2023
| Note Fixed assets Tangible fixed assets 10 Investments 11 Current assets Debtors 12 Cash at bank and in hand Creditors:Amounts falling due within one year 13 Net current assets Total assets less current liabilities Creditors:amounts falling due after more than one year 14 Net assets Represented by: Restricted funds 15 Unrestricted funds: Designated funds 16 General fund |
2023 £ £ 6,052,461 5,534,166 11,586,627 35,793 523,121 558,914 (39,143) 519,771 12,106,398 (108,461) 11,997,937 35,782 6,021,090 5,941,065 11,962,155 11,997,937 |
2023 £ £ 6,052,461 5,534,166 11,586,627 35,793 523,121 558,914 (39,143) 519,771 12,106,398 (108,461) 11,997,937 35,782 6,021,090 5,941,065 11,962,155 11,997,937 |
2022 £ £ 6,559,039 5,818,651 12,377,690 41,749 470,136 511,885 (43,072) 468,813 12,846,503 (114,632) 12,731,871 37,933 6,521,102 6,172,836 12,693,938 12,731,871 |
2022 £ £ 6,559,039 5,818,651 12,377,690 41,749 470,136 511,885 (43,072) 468,813 12,846,503 (114,632) 12,731,871 37,933 6,521,102 6,172,836 12,693,938 12,731,871 |
|---|---|---|---|---|
| 11,586,627 519,771 |
12,377,690 468,813 |
|||
| 558,914 (39,143) |
511,885 (43,072) |
|||
| 6,021,090 5,941,065 |
6,521,102 6,172,836 |
|||
| 12,106,398 (108,461) |
12,846,503 (114,632) |
|||
| 11,997,937 | 12,731,871 | |||
| 35,782 11,962,155 11,997,937 |
37,933 12,693,938 12,731,871 |
|||
Approved by the Trustees on 4 October 2024 and signed on their behalf by:
Fr. Mark White Trustee
(16)
CONGREGATION OF THE PASSION OF JESUS CHRIST Charity no. 234436 – in St Patrick’s Province
STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31[ST] DECEMBER 2023
| Cash (used in) operating activities (see below) Cash flows from investing activities Interest and dividends received Payments to acquire tangible fixed assets Proceeds on sale of tangible fixed assets Payments to acquire fixed asset investments Proceeds on sale of fixed asset investments Cash provided by investing activities Net cash inflow Cash and cash equivalents at 1 January 2023 Cash and cash equivalents at 31 December 2023 Cash flows from operating activities Net (expenditure) Interest and dividends received shown in investing activities Depreciation (Gain) on disposal of tangible fixed assets Loss/(gain) on disposal of fixed asset investments (Gain)/loss on revaluation of fixed asset investments Decrease in debtors (Decrease) in creditors Cash (used in) operating activities |
2023 £ £ (1,243,519) 133,390 (15,408) 605,291 (185,584) 758,815 1,296,504 52,985 470,136 523,121 (733,934) (133,390) 93,395 (176,700) 12,202 (300,948) 5,956 (10,100) (1,243,519) |
2023 £ £ (1,243,519) 133,390 (15,408) 605,291 (185,584) 758,815 1,296,504 52,985 470,136 523,121 (733,934) (133,390) 93,395 (176,700) 12,202 (300,948) 5,956 (10,100) (1,243,519) |
2022 £ £ (1,190,649) 165,487 (232,938) 396,950 (622,797) 1,529,720 1,236,422 45,773 424,363 470,136 (2,092,636) (165,487) 101,032 (176,350) (126,354) 1,278,644 69,628 (79,126) (1,190,649) |
2022 £ £ (1,190,649) 165,487 (232,938) 396,950 (622,797) 1,529,720 1,236,422 45,773 424,363 470,136 (2,092,636) (165,487) 101,032 (176,350) (126,354) 1,278,644 69,628 (79,126) (1,190,649) |
|---|---|---|---|---|
| 52,985 470,136 |
45,773 424,363 |
|||
| 523,121 | 470,136 | |||
| (733,934) (133,390) 93,395 (176,700) 12,202 (300,948) 5,956 (10,100) (1,243,519) |
(2,092,636) (165,487) 101,032 (176,350) (126,354) 1,278,644 69,628 (79,126) (1,190,649) |
(17)
CONGREGATION OF THE PASSION OF JESUS CHRIST Charity no. 234436 – in St Patrick’s Province
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] DECEMBER 2023
1 ACCOUNTING POLICIES
The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:
Basis of preparation
The financial statements have been prepared in accordance with the Charities Statement of Recommended Practice (Charities SORP (FRS 102)) and Financial Reporting Standard 102 (FRS 102). The financial statements are drawn up on the historical cost basis of accounting, as modified by the revaluation of investments.
The Congregation of the Passion of Jesus Christ meets the definition of a public benefit entity under FRS 102.
Scope of the financial statements
These financial statements include the funds of the charity and its subsidiary houses or parishes. These parishes operate as separate entities and their funds are administered with guidance from the Curia (the charity’s management group) where necessary, for the benefit of the Church within the local area.
Going concern
There are no material uncertainties about the charity’s ability to continue as a going concern.
Income
-
Voluntary income and donations (including legacies) are accounted for once the charity has entitlement to the income, it is probable the income will be received and the amount of income receivable can be reliably measured.
-
Income from listed investments and other sources is credited to the Statement of Financial Activities when receivable.
Expenditure
-
Expenditure is accrued as soon as a liability is considered probable, discounted to present value for longer term liabilities.
-
Raising funds includes fees paid to investment managers in connection with the management of the Charity’s listed investments.
-
Governance costs of the Charity include expenditure on compliance with constitutional, legal and statutory requirements, and these have been allocated directly to expenditure incurred on charitable activities.
-
Grants payable are payments made to third parties in the furtherance of the charitable objects of the charity. In the case of an unconditional grant offer this is accrued once the recipient has been notified of the grant award. The notification gives the recipient a reasonable expectation that they will receive the one-year or multi-year grant. Grants awards that are subject to the recipient fulfilling performance conditions are only accrued when the recipient has been notified of the grant and any remaining unfulfilled conditions attaching to that grant will probably be fulfilled.
-
Provisions for grants are made when the intention to make a grant has been communicated to the recipient but there is uncertainty as to the timing of the grant.
Services provided by members of the Congregation
For the purposes of these financial statements no monetary value has been placed on administrative and other services provided by members of the Congregation.
Tangible fixed assets
Functional freehold and leasehold property
Following a review of the 1954 Trust Deed drawn up between the Curia in Rome and the Province the Trustees are of the opinion that beneficial ownership of the Property used within the Province, and any proceeds arising from a disposal thereof, vests in the Charity. These assets were introduced in the financial statements at Trustees’ valuation in 2000. On transition to FRS102, these values were treated as deemed cost.
(18)
CONGREGATION OF THE PASSION OF JESUS CHRIST Charity no. 234436 – in St Patrick’s Province
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] DECEMBER 2023 (continued)
1 ACCOUNTING POLICIES (continued)
Fixed Assets (continued)
Depreciation on buildings is charged in the Statement of Financial Activities at 2% per annum which assumes an economic life of 50 years. Land is not depreciated.
Fixtures, fittings, equipment and motor vehicles
Fixtures, fittings, equipment and motor vehicles are depreciated in order to write off assets over their expected useful lives at the following rates per annum, using the reducing balance method:
Fixtures, fittings and equipment: 25% Motor vehicles: 25%
Plate and valuables
Following a valuation by Sotheby’s, the Trustees introduced these assets in the financial statements with effect from 31 December 2005. On transition to FRS102, these values were treated as deemed cost. Depreciation is charged in the Statement of Financial Activities at 2% per annum which assumes an economic life of 50 years.
Investments
Listed investments are shown in the balance sheet at market value. Gains and losses are credited or charged to the Statement of Financial Activities in the year in which they arise and are now included as a component of net income.
Fund accounting
The general funds comprise those monies which may be used towards meeting the charitable objectives of the Charity at the discretion of the Trustees.
Designated funds are the amounts set aside out of general funds and designated for specific purposes by the Trustees.
Restricted funds are monies raised for, and their use restricted to, a specific purpose, or donations received which are subject to donor imposed conditions.
Debtors
Sundry debtors are included at the settlement amount due. Prepayments are valued at the amount prepaid.
Cash at bank and in hand
Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of opening of the deposit.
Creditors and provisions
Creditors and provisions are recognised where the charity has a present obligation arising from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are recognised at their settlement amount.
Financial instruments
The charity only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
(19)
CONGREGATION OF THE PASSION OF JESUS CHRIST Charity no. 234436 – in St Patrick’s Province
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] DECEMBER 2023 (continued)
2 DONATIONS AND LEGACIES
| Collections Donations Legacies Received from members: Mass stipends Received for pastoral work Members’ pensions |
Unrestricted Restricted Total Total Funds Funds 2023 2022 £ £ £ £ 23,817 - 23,817 18,177 10,828 - 10,828 33,765 - - - 115,517 8,965 - 8,965 5,035 21,500 - 21,500 21,680 33,099 - 33,099 53,972 98,209 - 98,209 248,146 |
|---|---|
3 INVESTMENT INCOME
| UK Investments Listed investments Interest on bank deposits Exchange rate variance |
Unrestricted Restricted Total Total Funds Funds 2023 2022 £ £ £ £ 132,105 - 132,105 151,723 4,268 - 4,268 653 (2,983) - (2,983) 13,111 133,390 - 133,390 165,487 |
|---|---|
4 OTHER INCOME
| Surplus on disposal of fixed assets Sundry income |
Unrestricted Restricted Total Total Funds Funds 2023 2022 £ £ £ £ 176,700 - 176,700 176,350 39 - 39 168 176,739 - 176,739 176,518 |
|---|---|
5 SUPPORT OF MEMBERS OF THE CONGREGATION AND THEIR MINISTRY
| Staff costs Property costs Personal living costs Training Expenses of ministry Legal, professional and audit Depreciation |
Unrestricted Restricted Total Total Funds Funds 2023 2022 £ £ £ £ 186,578 - 186,578 190,702 70,743 - 70,743 101,837 95,671 - 95,671 99,539 1,475 - 1,475 - 80,092 - 80,092 86,834 75,032 - 75,032 38,140 93,395 - 93,395 101,032 602,986 - 602,986 618,084 |
|---|---|
(20)
CONGREGATION OF THE PASSION OF JESUS CHRIST Charity no. 234436 – in St Patrick’s Province
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] DECEMBER 2023 (continued)
6 GRANTS AND DONATIONS
| By purpose: Catholic Mission, Ministry and Education Individuals Education, evangelism and communication Other institutional grants below £7,000 Individual: Hardship and destitution Other institutional grants below £7,000 Individuals Passionist Community Community of the Passion St Joseph’s Highgate CIO Passionist Partners CAPs Catholic Worker Farm Community of the Passion Ecological Conversion Group Green Christian Partners Independent Catholic News London Mining Network London Catholic Worker Minsteracres Retreat Centre Patrik Trust Reformed CIC Other institutional grants below £7,000 Peace and reconciliation Pax Christi Protection of the environment Other institutional grants below £7,000 Solidarity with Passionist Congregation Internationally Generalate Other |
Unrestricted Restricted Total Total Funds Funds 2023 2022 £ £ £ £ - - - 4,500 |
|---|---|
| - - - 4,500 |
|
| 26,460 - 26,460 - |
|
| 26,460 - 26,460 - |
|
| 500 - 500 500 6,283 - 6,283 960 |
|
| 6,783 - 6,783 1,460 |
|
| 21,261 - 21,261 10,000 20,000 - 20,000 10,000 |
|
| 41,261 - 41,261 20,000 |
|
| 50,000 - 50,000 50,000 20,000 - 20,000 20,000 - - - - - - - - 12,000 - 12,000 12,000 20,000 - 20,000 20,000 20,000 - 20,000 20,000 20,000 - 20,000 20,000 279,125 - 279,125 233,000 100,000 - 100,000 - 20,000 - 20,000 45,000 20,000 - 20,000 14,077 |
|
| 561,125 - 561,125 434,077 |
|
| - - - 15,000 |
|
| - - - 15,000 |
|
| 12,000 - 12,000 - |
|
| 12,000 - 12,000 - |
|
| 67,000 - 67,000 38,562 - - - 3,385 |
|
| 67,000 - 67,000 41,947 |
(21)
CONGREGATION OF THE PASSION OF JESUS CHRIST Charity no. 234436 – in St Patrick’s Province
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] DECEMBER 2023 (continued)
6 GRANTS AND DONATIONS (continued)
| 6 GRANTS AND DONATIONS (continued) |
|||
|---|---|---|---|
| By purpose: Tackling poverty, exclusion and marginalisation Project 72 St Gemma’s Hospice Other institutional grants below £7,000 Individuals Tackling poverty, exclusion and marginalisation: overseas CAFOD Learning Refuge Paphos Total Grants Other donations Total Grants and Donations 7 NET (EXPENDITURE)/INCOME This is stated after charging: Staff costs (note 8) Auditors’ remuneration: audit other services Depreciation 8 STAFF COSTS Wages and salaries Social security costs Pension costs Average monthly number of staff: Office staff |
Unrestricted Restricted Funds Funds £ £ - - 10,000 - 65,500 - - - |
Total Total 2023 2022 £ £ - 43,275 10,000 10,000 65,500 107,900 - 1,079 |
|
| 75,500 - |
75,500 162,254 |
||
| - - 13,140 - |
- 175,000 13,140 12,660 |
||
| 13,140 - |
13,140 187,660 |
||
| 803,269 - 4,655 - |
803,269 866,898 4,655 24,768 |
||
| 807,924 - |
807,924 891,666 |
||
| Total Total 2023 2022 £ £ 186,578 190,702 8,660 8,435 12,015 10,244 93,395 101,032 2023 2022 £ £ 182,102 165,497 (9,380) 12,538 13,856 12,667 |
|||
| 186,578 190,702 |
|||
| No No 11 11 |
No employees earned at a rate of more than £60,000 during the year (2022: none).
No contributions were payable to money purchase pension schemes at the year-end (2022: £nil). No trustees received remuneration during the period (2022: none). Trustees can be reimbursed for travel expenses incurred on behalf of the charity. These amounted to £nil during the year (2022: £nil). The trustees, who are also key management personnel as described on page 2, receive no special benefit as trustees other than their care and maintenance as members of the Congregation.
(22)
CONGREGATION OF THE PASSION OF JESUS CHRIST Charity no. 234436 – in St Patrick’s Province
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] DECEMBER 2023 (continued)
9 TAXATION
The Congregation is a registered charity and therefore is not liable to income tax or corporation tax on income derived from its charitable activities.
10 TANGIBLE FIXED ASSETS
| Cost At 1stJanuary 2023 Additions Disposals At 31stDecember 2023 Depreciation At 1stJanuary 2023 Charge for the year Released on disposal At 31stDecember 2023 Net book value At 31stDecember 2023 At 31stDecember 2022 |
Functional property Furniture and equipment Plate and valuables Motor vehicles Total £ £ £ £ £ 8,311,584 85,371 82,420 62,094 8,541,469 15,408 - - - 15,408 (561,431) - - - (561,431) |
|---|---|
| 7,765,561 85,371 82,420 62,094 7,995,446 |
|
| 1,824,971 75,468 29,664 52,327 1,982,430 86,829 2,476 1,648 2,442 93,395 (132,840) - - - (132,840) |
|
| 1,778,960 77,944 31,312 54,769 1,942,985 |
|
| 5,986,601 7,427 51,108 7,325 6,052,461 |
|
| 6,486,613 9,903 52,756 9,767 6,559,039 |
All tangible assets are used for the direct charitable work of the Charity.
(23)
CONGREGATION OF THE PASSION OF JESUS CHRIST Charity no. 234436 – in St Patrick’s Province
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] DECEMBER 2023 (continued)
11 FIXED ASSET INVESTMENTS
| 11 | FIXED ASSET INVESTMENTS | |||||
|---|---|---|---|---|---|---|
| Total | Total | |||||
| 2023 | 2022 | |||||
| £ | £ | |||||
| UK listed investments | ||||||
| At 1stJanuary | 5,818,651 | 7,877,864 | ||||
| Additions at cost | 276,340 | 557,772 | ||||
| Disposals at opening market value | (746,613) | (1,656,074) | ||||
| Net movement in cash deposits | (90,756) | 65,025 | ||||
| Net unrealised investment (losses)/gains | 276,544 | (1,025,936) | ||||
| Market value at 31stDecember | 5,534,166 | 5,818,651 | ||||
| Historic cost as at 31stDecember | 4,823,456 | 5,360,561 | ||||
| The listed investments are dealt in on a recognised stock exchange. | ||||||
| The following had a value greater than 5% of the portfolio valuation at 31stDecember: | ||||||
| 2023 | 2022 | |||||
| £ | £ | |||||
| Sarasin Climate Active Endowments Fund | 2,674,309 | 3,075,916 | ||||
| 12 | DEBTORS | |||||
| 2023 | 2022 | |||||
| £ | £ | |||||
| Prepayments and accrued income | 35,793 | 41,749 | ||||
| 13 | CREDITORS: Amounts falling due within one year | |||||
| 2023 | 2022 | |||||
| £ | £ | |||||
| Accruals and other creditors | 39,143 | 43,072 | ||||
| 14 | CREDITORS: Amounts falling due after more than | |||||
| one year | 2023 | 2022 | ||||
| £ | £ | |||||
| Grants promised to beneficiaries | 15,134 | 29,548 | ||||
| Monies held by the charity on behalf of other Passionist | 93,327 | 85,084 | ||||
| locations | ||||||
| 108,461 | 114,632 |
(24)
CONGREGATION OF THE PASSION OF JESUS CHRIST Charity no. 234436 – in St Patrick’s Province
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] DECEMBER 2023 (continued)
15 RESTRICTED FUNDS
2023
| 2023 Episcopal Help Fund 2022 Episcopal Help Fund |
Expenditure, Balance at transfers and Balance at 1 Jan Income gains/losses 31 Dec £ £ £ £ 37,933 - (2,151) 35,782 |
|---|---|
| 37,933 - (2,151) 35,782 |
|
| 53,501 - (15,568) 37,933 53,501 - (15,568) 37,933 |
Purpose of funds Episcopal Help Fund: assists in defraying Bishop’s costs
16(a) DESIGNATED FUNDS
| DESIGNATED FUNDS | |
|---|---|
| 023 “Beginning Experience” Fund Ignatius Spencer Fund PROPERTY DESIGNATED FUND Functional property at net book value DESIGNATED FUNDS 022 “Beginning Experience” Fund Ignatius Spencer Fund PROPERTY DESIGNATED FUND Functional property at net book value |
Balance at Balance at 1 Jan Utilised 31 Dec £ £ £ 30,094 - 30,094 4,395 - 4,395 |
| 34,489 - 34,489 6,486,613 (500,012) 5,986,601 |
|
| 6,521,102 (500,012) 6,021,090 |
|
| Balance at Balance at 1 Jan Utilised 31 Dec £ £ £ 30,094 - 30,094 4,395 - 4,395 |
|
| 34,489 - 34,489 6,565,301 (78,688) 6,486,613 6,599,790 (78,688) 6,521,102 |
2023
16(b) PROPERTY DESIGNATED FUND
16(a) DESIGNATED FUNDS
2022
16(b) PROPERTY DESIGNATED FUND
Purpose of funds “Beginning Experience” Fund: pastoral development purposes Ignatius Spencer Fund: for the promotion of the cause of Ignatius Spencer’s canonisation
(25)
CONGREGATION OF THE PASSION OF JESUS CHRIST Charity no. 234436 – in St Patrick’s Province
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31[ST] DECEMBER 2023 (continued)
17 ANALYSIS OF NET ASSETS BETWEEN FUNDS
| 2023 Tangible fixed assets Investments Current assets Creditors: amounts falling due within one year Creditors: amounts falling due after more than one year |
Unrestricted Funds Restricted Total General Designated £ £ £ £ 65,860 5,986,601 - 6,052,461 5,492,328 - 41,838 5,534,166 530,481 34,489 (6,056) 558,914 (39,143) - - (39,143) (108,461) - - (108,461) 5,941,065 6,021,090 35,782 11,997,937 |
|---|---|
| 2022 Tangible fixed assets Investments Current assets Creditors: amounts falling due within one year Creditors: amounts falling due after more than one year |
Unrestricted Funds Restricted Total General Designated £ £ £ £ 72,426 6,486,613 - 6,559,039 5,774,662 - 43,989 5,818,651 483,452 34,489 (6,056) 511,885 (43,072) - - (43,072) (114,632) - - (114,632) 6,172,836 6,521,102 37,933 12,731,871 |
|---|---|
18 RELATED PARTY TRANSACTIONS
During 2023 grants of £279,125 (2022: £233,000) were awarded to Minsteracres Retreat Centre. In addition, the Minsteracres property is leased to the Minsteracres Retreat Centre at a peppercorn rent. One of the trustees of the charity was also a trustee of Minsteracres Retreat Centre during 2023 (2022: there were two common trustees).