## **VICARIATE HEADQUARTERS TRUST**
## **UNAUDITED FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31ST MARCH 2023**
**Charity Number 237523**
**VICARIATE HEADQUARTERS TRUST**
## **INDEX TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2023**
|Members of the Board and Professional Advisers|Page 1|
|---|---|
|Trustees' Annual Report|Pages 2 to 4|
|Report of the Independent Examiner|Page 5|
|Statement of Financial Activities|Page 6|
|Balance Sheet|Page 7|
|Notes to the Financial Statements|Pages 8 to 12|
**VICARIATE HEADQUARTERS TRUST**
Page 1
## **MEMBERS OF THE BOARD AND PROFESSIONAL ADVISERS**
## **Principal Address**
26 The Crescent Farnborough Hampshire GU14 7AS
**Board of Trustees** Father D Conroy (Ex-officio) P Firth Rt Rev Bishop P J Mason (Ex-officio) Rev D Skillen (Ex-Officio) Father I J Stevenson Wing Commander C P Thorpe - Chairman **Bankers** Royal Bank of Scotland Holt's Farnborough Branch 200 Fowler Avenue Farnborough Business Park Farnborough Hampshire GU14 7JP **Independent Examiner** Mark Dickinson FCA Shaw Gibbs (Audit) Limited Wey Court West Union Road Farnham Surrey GU9 7PT
**VICARIATE HEADQUARTERS TRUST**
Page 2
## **TRUSTEES' REPORT**
## **FOR THE YEAR ENDED 31ST MARCH 2023**
The trustees have pleasure in presenting their report and the financial statements of the charity for the year ended 31st March 2023.
## **Legal Status**
The Vicariate Headquarters Trust was created by a Declaration of Trust dated 14th August 1963, as varied or affected by a Scheme of Arrangement of the Charity Commissioners dated 19th January 1973 and order dated 14 August 2006.
The Vicariate Headquarters Trust is a Registered Charity, charity number 237523.
## **Trustees Appointments and New Trustee Proceedings**
The ex-officio trustees are appointed by virtue of their respective offices. Co-optative trustees are appointed by a resolution of the trustees passed at a special meeting.
The chairman of trustees contacts new ex-officio trustees and potential new lay trustees prior to attendance at their first trustees meeting, to tell them about the background and activities of the trust. All new trustees are also provided with a copy of the charity commission guide "The Essential Trustee: what you need to know".
## **Objects of the Trust**
The trust supports the Roman Catholic Bishopric of the Armed Forces by the provision of a house.
## **Connected Charities**
The following charities are connected to the Vicariate Headquarters Trust.
The Army Roman Catholic Trust Royal Navy (Roman Catholic) Trust St. Michael and St. George Parish Office Royal Navy Catholic Chaplaincy Queens Avenue The Chaplaincy Aldershot HMS Collingwood Hampshire Newgate Lane GU11 2BY Fareham Hampshire PO14 1AS
Royal Air Force Roman Catholic The Roman Catholic Bishopric of the Forces (GB) Church Purposes Fund Wellington House The Chaplaincy Centre St Omer Barracks RAF Odiham Aldershot Hook Hampshire Hampshire GU11 2BG RG29 1QT
**VICARIATE HEADQUARTERS TRUST**
Page 3
## **TRUSTEES' REPORT FOR THE YEAR ENDED 31ST MARCH 2023**
## **Reserves**
The trust has one capital asset, a property, which due to its age and style, is subject to uneven levels of repairs and maintenance. The trustees have agreed to build up reserves so that they are sufficient to meet any large or unexpected repairs which may arise. The policy will be reviewed annually.
To maintain these reserves, the major refurbishment carried out on the property in the year was funded by grants received to a restricted fund set up for this purpose.
## **Achievements and Performance**
During the year, the trustees continued to maintain the freehold property to a good standard. A significant refurbishment of the property was carried out which was funded by donations from the Royal Navy (Roman Catholic) Trust, Royal Air Force Roman Catholic Church Purposes Fund and the Army Roman Catholic Trust.
## **Financial Review**
Income during the year consisted of rent maintenance income. No rent was paid for seven months while the property was unoccupied during the refurbishment work.
The financial activities and position of the trust are as shown in the annexed accounts.
## **Plans for Future Periods**
To continue to maintain the property to a high standard.
## **General**
The financial statements comply with current statutory requirements, the Statement of Recommended Practice and the Charities Act 2011.
## **Funds**
A restricted fund was set up in the year consisting of grants received from The Army Roman Catholic Trust, Royal Air Force Roman Catholic Church Purposes Fund and Royal Navy (Roman Catholic) Trust for the Bishop's House Refurbishment, all other funds held are unrestricted and are held to further the objects of the trust. These unrestricted funds are available and are adequate to fulfil the obligations of the trust.
**VICARIATE HEADQUARTERS TRUST**
Page 4
## **TRUSTEES' REPORT FOR THE YEAR ENDED 31ST MARCH 2023**
## **Public Benefit**
The trust supports The Roman Catholic Bishopric of the Armed Forces. The Bishop is the spiritual leader of the Catholic Community in the armed forces, and is responsible for the pastoral care of Catholics and their families in the armed forces, and to other non-Catholic serving personnel.
## **Trustees**
The trustees who served the trust during the period were as follows:
Father D Conroy (Ex-officio) P Firth Rt Rev Bishop P J Mason (Ex-officio) Rev D Skillen (Ex-Officio) Father I J Stevenson (Ex-Officio) Wing Commander C P Thorpe - Chairman
## **Trustees' Responsibilities**
The trustees are responsible for preparing the Trustees' 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 charity's financial activities during the year and of its financial position at the end of the year. In preparing financial statements giving a true and fair view, the trustees should follow best practice and:
- Select suitable accounting policies and apply them consistently;
- Observe the methods and principles in the Charities SORP;
- Make judgements and estimates that are reasonable and prudent;
- State whether applicable UK Accounting Standards and statement of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements, and
- Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping sufficient accounting records which 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 and the provisions of the trust deed. The trustees are responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Signed on behalf of the trustees
Bishop P. J. Mason Trustee
Approved by the trustees on 27 July 2023
**VICARIATE HEADQUARTERS TRUST**
Page 5
## **REPORT OF THE INDEPENDENT EXAMINER TO THE TRUSTEES OF THE VICARIATE HEADQUARTERS TRUST**
I report on the financial statements for the year ended 31 March 2023 as set out on pages 6 to 12.
The accounts have been prepared in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.
## **Respective responsibilities of trustees and independent examiner**
The charity’s trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year (under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
It is my responsibility to
- ꞏ examine the accounts under section 145 of the 2011 Act;
- ꞏ to follow the procedures laid down in the General Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
- ꞏ to state whether particular matters have come to my attention.
## **Basis of independent examiner's statement**
My examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations for you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and, consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below.
## **Independent Examiner's Statement**
In the course of my examination, no matter has come to my attention:
1. which gives me reasonable cause to believe that, in any material respect, the requirement:
- ꞏ to keep proper accounting records in accordance with section 130 of the 2011 Act; and
- ꞏ to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the 2011 Act have not been met; or
2. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
## **Mark Dickinson FCA**
**Shaw Gibbs (Audit) Limited Wey Court West Union Road Farnham Surrey GU9 7PT** Dated : 27 July 2023
**VICARIATE HEADQUARTERS TRUST**
Page 6
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31ST MARCH 2023**
|**Notes**
**Income and Endowments**
Charitable Activities
**2**
Investment Income - Bank Interest
**Total Income**
**Expenditure**
Charitable Activities
**3**
**Total Expenditure**
**Net Movement in Funds for the Year**
**Unrestricted Funds as at 1st April**
**Funds as at 31st March**|**Restricted**
**Unrestricted**
**Total**
**Total**
**Funds**
**Funds**
**Funds**
**Funds**
**2023**
**2023**
**2023**
**2022**
**£**
**£**
**£**
**£**
450,000
5,000
455,000
12,000
**-**
363
363
3|
|---|---|
||**450,000**
**5,363**
**455,363**
**12,003**|
||447,041
9,901
456,942
8,305|
||447,041
9,901
456,942
8,305|
||**447,041**
**9,901**
**456,942**
**8,305**|
||**2,959**
**(4,538)**
**(1,579)**
**3,698**
**-**
**226,578**
**226,578**
**222,880**|
||**2,959**
**222,040**
**224,999**
**226,578**|
The Statement of Financial Activities includes all gains and losses recognised in the year
All incoming resources and resources expended derive from continuing activities
Page 7
## **VICARIATE HEADQUARTERS TRUST**
|**2023**
**2023**
**Notes**
**£**
**£**
**Fixed Assets**
Tangible Assets
**6**
184,331
**Current Assets**
Debtors
-
Cash at Bank
42,167
**Total Current Assets**
**7**
42,167
**Current Liabilities**
**8**
1,500
**Net Current Assets**
40,667
**Net Assets**
**224,999**
**Funds**
**11**
Restricted
**12**
2,959
Unrestricted
222,040
**Total Funds**
**224,999**
**AS AT 31ST MARCH 2023**
**BALANCE SHEET**|**2023**
**2023**
**Notes**
**£**
**£**
**Fixed Assets**
Tangible Assets
**6**
184,331
**Current Assets**
Debtors
-
Cash at Bank
42,167
**Total Current Assets**
**7**
42,167
**Current Liabilities**
**8**
1,500
**Net Current Assets**
40,667
**Net Assets**
**224,999**
**Funds**
**11**
Restricted
**12**
2,959
Unrestricted
222,040
**Total Funds**
**224,999**
**AS AT 31ST MARCH 2023**
**BALANCE SHEET**|**2023**
**2023**
**Notes**
**£**
**£**
**Fixed Assets**
Tangible Assets
**6**
184,331
**Current Assets**
Debtors
-
Cash at Bank
42,167
**Total Current Assets**
**7**
42,167
**Current Liabilities**
**8**
1,500
**Net Current Assets**
40,667
**Net Assets**
**224,999**
**Funds**
**11**
Restricted
**12**
2,959
Unrestricted
222,040
**Total Funds**
**224,999**
**AS AT 31ST MARCH 2023**
**BALANCE SHEET**|**2022**
**£**
-
39,373|**2022**
**£**
188,705
37,873|
|---|---|---|---|---|
||42,167||39,373||
||1,500||1,500||
||||||
|||**224,999**||**226,578**|
|||2,959
222,040||-
226,578|
|||**224,999**||**226,578**|
These financial statements were approved by the trustees on 27 July 2023 and are signed on their behalf by:
Wing Commander C P Thorpe (Chairman) Trustee
**VICARIATE HEADQUARTERS TRUST**
Page 8
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2023**
## **1. Accounting Policies**
## **a) Basis of Accounting**
The accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice : Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The accounts have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
The trust constitutes a public benefit entity as defined by FRS 102.
## **b) Fixed Assets**
Depreciation is provided on fixed assets at the following annual rates in order to write off each asset over its estimated useful life:
|Furniture and fittings|- 10% on cost|
|---|---|
|Freehold property|- 2% on cost|
The freehold property is held to fulfil the objects of the trust and as such has been included as a tangible fixed asset.
## **c) Taxation**
As a qualifying charity, the trust is not liable to UK taxation.
## **d) Funds**
A restricted fund was set up in the year for the Bishop's House Refurbishment, all other funds held are unrestricted.
## **e) Incoming Resources**
Rent maintenance income and bank interest are recognised in the financial statements when receivable.
## **f) Resources Expended**
Resources expended for the freehold property and for governance costs are allocated to charitable activities.
**VICARIATE HEADQUARTERS TRUST**
Page 9
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2023**
## **2. Income - Charitable Activities**
Rent maintenance of £1,000 per month is payable by the Roman Catholic Bishopric of the Forces, this was halted while refurbishment work was carried out on the property and it was unoccupied.
|Unrestricted
Rent maintenance income
Interest received
Restricted
Grants received - refurbishment of property
Royal Navy (Roman Catholic) Trust
Royal Air Force Roman Catholic
The Army Roman Catholic Trust
**Expenditure - Charitable Activities**
Unrestricted
Repairs and Maintenance
Insurance
Trustee expenses
Professional fees
Depreciation (see note 6)
Accountancy (see below)
Restricted
Refurbishment costs
**Fees Payable to Independent Examiners**
Independent Examiner fees
Accountancy and Secretarial fees|**2023**
**2022**
**£**
**£**
5,000
12,000
363
3|
|---|---|
||**5,363**
**12,003**|
||45,000
-
238,500
-
166,500
-|
||**450,000**
**-**|
||**2023**
**2022**
**£**
**£**
-
-
836
836
275
323
-
-
4,374
4,374
4,416
2,772|
||**9,901**
**8,305**|
||**2023**
**2022**
**£**
**£**
447,041
-|
||**447,041**
**-**|
||**2023**
**2022**
**£**
**£**
1,250
1,150
3,166
1,622|
||**4,416**
**2,772**|
## **3. Expenditure - Charitable Activities**
**VICARIATE HEADQUARTERS TRUST**
Page 10
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2023**
## **4. Trustees' Remuneration and Expenses**
There was no remuneration payable to the trustees in either the current or previous years.
Travel and subsistence expenses of £275, incurred for services provided to the charity were reimbursed to one trustee (2022 - £323).
## **5. Insurance**
The trust had the following insurance cover during the year in respect of property owned by it.
|Contents Insurance|-|Sum Insured|£|115,785
|
|---|---|---|---|---|
|Building Insurance|-|Sum Insured|£|1,250,000
|
The premium payable on the above insurances is refunded by the Roman Catholic Bishopric of the Forces.
## **6. Tangible Fixed Assets**
|**Cost**
As at 31/03/22
Additions
Disposals
As at 31/03/23
**Depreciation**
As at 31/03/22
Charge for Year
Disposals
As at 31/03/23
**Net Book Value**
As at 31/03/23
As at 31/03/22|**Freehold**
**Furniture**
**Property**
**and Fittings**
**Total**
**£**
**£**
**£**
218,691
9,400
228,091
-
-
-
-
-
-|
|---|---|
||218,691
9,400
228,091|
||29,986
9,400
39,386
4,374
-
4,374
-
-
-|
||34,360
9,400
43,760|
||184,331
-
184,331|
||188,705
-
188,705|
The freehold property was valued at £1.6m by Hamptons, following completion of the refurbishment work. This valuation has not been adjusted for in the financial statements.
**VICARIATE HEADQUARTERS TRUST**
Page 11
## **NOTES TO THE FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED 31ST MARCH 2023**
## **7. Current Assets**
Cash at bank balances were as follows: unrestricted funds £39,208 (2022 £39,373), restricted funds £2,959 (2022 £Nil).
## **8. Current Liabilities**
|Accruals & Deferred Income
All creditors relate to unrestricted funds.|**2023**
**2022**
**£**
**£**
1,500
1,500|
|---|---|
||**1,500**
**1,500**|
|||
## **9. Capital Commitments**
The trust is committed to making a final instalment relating to the refurbishment of the Freehold Property. The cost of the instalment is £8,515 and will be met in full by the three service trusts by way of grants.
## **10. Contributing Trusts**
The trustees recognise that the funds donated to the trust for the purchase and subsequent refurbishment of the property were from the following sources:-
|The Army Roman Catholic Trust|49.33%|
|---|---|
|Royal Air Force Roman Catholic Church Purposes Fund|43.43%|
|Royal Navy (Roman Catholic) Trust|7.24%|
In the event of the trust being wound up, it is the intention of the trustees to return surplus funds to these originating sources.
## **11. Analysis of net assets between funds**
|Fund balances at 31 March are represented by:
Fixed Assets
Net Current Assets
Total funds|**Restricted**
**Unrestricted**
**Funds**
**Funds**
**Total Funds**
**Total Funds**
**2,023**
**2,023**
**2023**
**2022**
**£**
**£**
**£**
**£**
-
184,331
184,331
188,705
2,959
37,708
40,667
37,873|
|---|---|
||2,959
222,039
224,998
226,578|
|||
||**2,959**
**222,039**
**224,998**
**226,578**|
**VICARIATE HEADQUARTERS TRUST**
Page 12
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2023**
## **12. Restricted Funds**
|**Restricted Funds**||
|---|---|
|As at 1 April 2022
Incoming Resources
Resources Expended
As at 31 March 2023|**Bishop's House Bishop's House**
**Refurbishment**
**Refurbishment**
**Fund**
**Fund**
**2023**
**2022**
**£**
**£**
-
-
450,000
-
(447,041)
-|
||**2,959**
**-**|