lThe JOh1w or Setujar aergy Aswciatbill oftb¢ Arehdio¢¢se of Birmingham Report orth¢ Tr4slees aid w1(181 Statements forthe Y¢Jr Emded 31st M*reh 20ts
The Joknsott or &ttyJr atrLV Ass(l•tlott of tht Ar¢hdlo¢es¢ ofBirThiMgh#m Contrts of the Fin¥Jneial Sta¢¢rnents for the Yr Emd¢d 31st Mar¢h 2025 P4e Report of the Tn Report of the ldeFdlt AlItOrS Ststement of Financial Activitie5 Balance Sheet 12 Ststement of Cuh Flows 13 Note5 to the Statement of Cash F]ows 14 N0*5 to th¢ Financial Ststem¢nts 15
The Johnlon or Secular Clergy Association ofthe Arehdiocese ofBlrmlngharn R¢port ofthe Trnstees for ¢h¢ Ye4r Ended 31st March 2025 The Trusiees present their annual report together with the audited fmancial staiements ofthe Charity forthe year ended 31st March 2025. The financial statements have been prepared in accordance with the accounting poliei¢s set out in the notes to the accounts and comply with the chaTity's governing documenL the Charities Act 2011 and Ac¢ouniing and Reporting by Charitie5.' Statement of RKomm¢nd¢d Pradice applicable to charities preparing iheir a¢¢ounts in accordance with th¢ Financial R¢porting Standard applicabl¢ in the UK and Republic of Ireland (effe¢¢ive l# J8rtuary 2019). REFERENCE AND ADMINISTRATIVE INFORMATION Name: The Johnson or Secularclergy Association of the Archdiocese of Birniingham Registered Ch4rity Nutybber. 238681 Prlnelpal OffJ¢e: 17 Birch Green Grove Stoke-on-Trent Staffordshire STI 6RD Trustees Rev G Murrdy - Chair- resigned as Trustee 8th July 2024 Rev D Hartley - Chair from 8 July 2024 Rev J Batthula Mrs P Deeley Rev P Griffm Rev P Madden - appointed 8th July 2024 Admi1$trntOr. Rev D Doran S¢¢r¢tsry: Can(m J Gilbert Alldltors: Rice & Co Limited Chartered Accountants Ststuiory Auditors 14a Market Pthe Uttoxeter Stsffordshire ST14 8HP Bankers: Th¢ C(werative Bank l Balloon Str¢ei Manchester M4 4BE Solicitors: Lodders LLP Number Ten Elm Court Arden Street Stratford Upon Avon Warwickshire CV37 6PA Investment Managers: lJilter Chevioi Senator House 85 Queen Victoria Street London EC4V 4AB Page I
TheJOh]b% or Secular CltfLY AMotltknn ofthe Arebdlot¢se of BIrnIgh Report of the Trustees for the Yer Ended 31$¢ March 2025 STRUUR GOVERNANCE AND MANACEMENT CoDstitsliott The Johnson or Secular Clergy Association of the Archdiocese of Birniingham ("The Johrt50n Association is an uniD¢orpor#t¢d L8sociation registered with the Charity Cortthiissioffj registrntion number 238681, and acts in¢kpendentty of any other charity. The Association is gtsverned by the rules lopted as Tts eonstitutioo on 29 Novernb2r 2000 and amended Ott 14ih Juty 2010. 13th Juty 2011.1 lth July 2012. 1 lth Juty 2013. 2nd Juty 2018. 7th (ktoir 2020. 5th Ju]y 2021 and 4th July 2022. Trustees and m¢eting5 The Body of Trustees consists of five pe(yle elected by the Memkn * the Ann1 General Meetin& Each year one fifth of the ttustees will retire. The Tnjstees to retire will be those who have been longest in office sinc¢ th¢y w¢r¢ lasi ¢l¢¢t¢d. N¢w trust¢¢s may be nomina¢¢d by member. the board of advisors. or the Trustees. ond will be elected by the members * the AGM. However. no pers(m shall be eligible for election onto the Body of Trustees if at the datr of the Annual General Meeting from which if ele¢t¢d h¢ will hold office. or the date of th¢ Trustees. Meeting at whith he is he will have served ten consecutive years as a Trustee. Trustees meet quarterly and give their time fre¢ty. with no trustee [eMutIon or eXPSe$ paid. Honoraria are paid to the Athninistrator pnd Se¢r¢t¥ry. who are not Ttee5. Tn are rg4uired to dixlose all relevant intrrests or activity with another choritrbl¢ tru5L A 'dlartIon of inlerest. is signed at every Meeting. The Chair of the TneS is aPinted ty the immedialy following the Annual General Meeting and is a tNsttt ex otTicio. The Chair of Trustees holds office for three yeaT4 after whÈ¢h they may be appointed for a second tenn of otTice but afterthe expiry of such secottd terni will not be ¢ligibl¢ for appointment as the Chair. At Tstee5 meetiny the Tn have agreed that areas of Governance and athavity should be organised in Systematic manner. At each of the qvarterly meetings the Trustees give due tsid¢ratiOn to the application for discretionary gr¥nts. The day4(Hlay athninistration of grdnts and the prncessing and handling of applications prior to consideration by the TTU5tee5 is delegated to the Administrator. At Trusiees meetings during the year. there is a focu5 Ttee trainin& This serves as tsaining for th¢ newly appointed trUte$ and an onnual update for all of the Tntstees and their delegates. The AuuEmn Trust¢es Meeting usually also has an induction training stssion for new TnLStees. Previous Trustee training highlighted that greateT div¢rsity woykl b¢ vable for our Organ1110n. The Tne$ continue to b¢ aware of this in appoinm)ents. This year the Tnjstees reviewed the CoWtiw th•t they were familiar with its principles and ¢ontent. In parti¢ulor th¢ TNslees re¢eiv¢d traTning in the following areas: Fundraising and the FundFaising Regulatorl Fundraisin8 Cod Risk As5¢SSTnenL General training and especially the Short Guides fer{ed to in the Welcome Pack issued by the Charity Commission- with a focus on conflicts of intues( dectsion tsking and the ¢)biKts of the charity. Charity Gov¢rn4n¢e C1¢. The change5 to the Charities Act 2022 whith is being ph1 An at westhL Finally. as reftrred to below. there was a flus on the grani4nakinB p)li¢y and EYo¢*Jure to enyjre that it 1$ up to date. See further below. At the first meeting of the lendar year. the Tn underth an annual finan¢ial review UFdating their financial policy and risk management. The TCeS together with the Association'$ Inv¢s¢m¢nt Managers - Quilfer Ch¢viot- ensur¢ that the level of fuwicial risk is effectively managed enable the trustees to fore¢ast and provid¢ the funds available io supp)rt those &cular Ckrgy to whom it offers a discrdionary granL whil¢ ensuring ihat th¢ long-i¢m] investsnenl poli¢y is UtL Page 2
The Johnson or Seclllar Cleryy Assoclatlon ofthe Arehdloeese ofBITmlngh4tn Report of tbe Trustees for the Year Ettded 31st Mr¢h 2025 At our January Trustees meeting we dIU55¢d R¢sponsibl¢ Inv¢strnent- defined as: A siraiezv and practice lo in¢orporale environmenial, s11 and governance {£SG) fociors In Invoimenl dec105 anda¢¢ry¢ ownership.. ESG • Ettvironmental, Social and Governance h&% fijrther sulFheadin8s iti ¢#¢h cate80ry. Quilter Cheviot and other Investment Companle$ are now required to discuss Responsible Investment with their clients and ¢0 log and document this discus$ion. Quilrer Chevioi works in dialogue with those compsnies in which li invests, whi¢h in iurn (it is hoped) leads to positive change. Quitter Ch¢viot has an engagement pollcy-"We vote and engage with companies" The Trustees agreed that Responsible and Sustainable Investment should be a part of the brooder Financial Policy which would be diU5$ed at the first meeting of each year. Subsequently the followin8 Statement agreed which will forni the basis of A itraft'policy for investmeni.: In prln¢lple ihe Board wtsh io be ruponslble Invesiors. Emlrortmenial, so¢ial and governance {G) erliepla are a sel of slondord¥ ihol soclolly c0CIDS impe$lors, such os a charlty. eonslder when Tl¢wIll8 iheir Invesimenis. Environme1 eriirla cortsidér h(Jw a ¢horlty p¢rf(YmS a sleward of nalure. Social ¢rlieria amine how 11 manages relallonshlps wlih employees. swppli¢rJ. CKTlomers. and ihe communliles wher¢ it operales. Governance deals wilh a chorltys leadership. xe¢Milv¢ poy. audiis, Inlernal coKirols, ond horéholder r18$. Theréfore. Ihe inveslment managers ore enCoraged iu lok¢ a0nI of ESG issues in ihelr Invesimeni analys1$ aMdde¢lslon-makingpro¢esses and engage with eharlty manag¢m¢nl when oppropriaie. Durin8 the year, the Trustees undertcrfjk 8 review of all the policies and procedures of the Board of Advisors to the Trustees at a specially convened meeting in Deeember 2024. The review look place with each TTU5tee looking at one policy each and then presenting their r¢view and ¢onsiderntions for all the Trnstees to make their ¢ontribulions- various Change5 were rnade to poli¢i¢$, errots And typos COTrected and updated and Agreed by all TnJ$t¢es. The Annual General Meetlng takes place in Juty, Eo¢h of the members are invited to att¢nd. The AGM accepts the resignaiion of one fifth of the Trustee body and ¢le¢ts 4 new trustee. The AGM discusses those matters proposed by the Trustee$. or Bo8rd of Advisors, as well as any Tnatter proposed by a member. The TTUStees' Report and Financial Sthtement are agreed, and ony other busin¢s$ as required, e.8. the appointment of Auditors and A¢¢ountsnts. sthtem¢nt of Trnsttts, r¢8p)n8lbllltles The TTUStees responsible for preparing the Tru$te¢$' report and the financial statements in accordance with applicable law and United Kingdom Accounting Stsnd9rds (Uni¢ed Kingdom Generally Accepied Ac¢ountill8 Practice). The law applicable to charities in England and w¢$ requires the Trustees to prepare flnan¢l&l statements for ch financial period whi¢h give a true and fair view of the stste of offAirs of the Charity and of its incoming resour¢es and application of resources, Including its income and expendiiure. for thai period. In preparing these financial statements, the This¢e¢s 4re required to: sele¢¢ sulthble accounting policies and then apply thern consisi¢nily: observe the methods and principles of the Charities Ststement of Re¢ommended Practice ISORP 2019). make judgments and accounting emimates th41 ore reasonable and prudent. State whether applicable UK Accountin8 Standards have been followed, subject to any mcrial departures disclosed and explained in the financial ststemenLS; ¥nd prepare the financial Statements on the going ¢on¢ern basis unles5 it is inappropriate to presume that the Charity will continue in business, The trustees are responsible for keeping proper accounting records that are sufficient io show and explain the charity's transaciions and disclose wlih rea50nable accuracy at any time the financial position of the charity and enable them to ensure that Éhe financial ststements ¢omply with the Charities Act 2011, the Charities (AoUnts and Reports) Regulations 2008 and the provisions of the $1 deed. They are also spOnSible for safeguarding the assets of the charity and hence for taking rea$0tb]e steps for ihe prevention and detection of fraud and (Ah¢r irre8ulariti¢s. Page 3
The Joh1 orsecuknr aergy Asth¢ion of the Ar¢hdiocese of Birmingham Report of the Tntee8 for the Yer Ended 31st Marth 2025 The Board of Advlsers to the Trusttts (Deanery Reps) The Board of Advisers to th¢ TTU5te¢s ar¢ th¢ ¢l¢rgy r¢prtse#t•tive5 ¢le¢ted by their Deanery to reFYesent the Members of the Deanery keep the infornled as the physical wellbeing of the members. They are elected, also. to advise the truee5 in tte¥S relating lo the A550ciaM VICe which the trustees mum listen to. Th¢ following rewesentativo ser4ed durin8 the year. Rev K Hooper Rev B Devanr Rev A F05t¢r S PirnliAt Rev M Egawhory Rev P Whi¢ldon Rev C iioBerson R¢v L Nguy¢n Rev D Lamb RevJGr Rev TNorton DAY-t(aY operntloos Responsibility for day.tfrday affairn of the A$ellI10n hts been dek8d the thinistrator and sret, Assoelted eompany The Johnson or Secular Cluy Asxxialion of the Ar¢hdio¢ege of Bimiingham hts an associated Trust Company - The Johnson Trust Corpjrntion Limiied (company Mmber 8287813) which holds any real property 85 Custodian tru5te¢ of The Associ10n. The Johnson Tn co110n Limi1 has been dOrnt throughout re¢¢nt yeArs and was 'Struck in March 2025. Rlsk ManMent Th¢ TTU5¢ee5 of the Johnson Association review and upthtr their Risk Register ¢very Six months and havin8 reviewed those risk$ they hav¢ established systems Wbd wocedure5 10 mana8e those risks. Usually this is an exercise in planning for the worst<ose scenorio. R¢viewing the Risk Re8iSter proved to b¢ robust and has served us well. Trustees cmsider the variability of inveth¢ni rethmis Up their investsnent portfolio as a significant rinancial risk. They are 8150 aware tha¢ in cornmon with society in general. the Secular Clergy are, a$ 8 whol¢. older than thty were and living longer. Therefore. li is prohble the finm¢i41 demand5 upon the charity will increase ai a (ime when volatilty in world markds seems hi8h¢r. Following a completion of a survey of the Secular Cleryy bA%d th¢ir ¢wMt a8e. (which enabled th¢m to produ¢e a deiailed forecast of the numbers of Secular Clergy who will retire exh year for the next twenty five yearsA ihe Trustees are ¢qUid to make de¢i5ions on a lon8-terni ba31$. 8$ w¢ll &% coniinuin8 provision for th¢ ditional ttumbets of Se¢ul•r Clergy retirin8 and firture demands upm th¢ Charity. With the increasin8 uncertainty in fmancial rnark¢ty the TAte¢S in consultation with their Investment Managets, undertook a th08h financial review and 88reed the level of finan¢ial risk thty were willing 10 accepi. The trustees agreed io keep the cumt risk Swus as'medium,. oWEIVEs AND A1VITIEs ObJe¢tfv The Johnson Association's objective is the of the Secular Cler&Y of the ATthdio¢¢s< who. on account of Age or infirnjity, are no longer able to ¢ontinue their wochial work and io SUFPM priests who are suffering temporary illness. The TTUStees Confirm that they have referred io the guidance Wntsin¢d in th¢ Charity Commission's general guidan¢e on public benefit when reviewing the Association's ObjeiveS and in planning activities and con$iderin8 the grant-making l1¢y. Aetlvlty The Johnson Association achieves Irs objective by: Providing discreiionary gtants to priests who. through old age infirniity are no longer able ¢0 wo. Providing dis¢retii)nory grants in aid of wiests who are on the auive lisl but who ort InpaCittcd by serious illness for a period longer than a month.
TheJohnson or Seculr aery Asso¢ii¢h)n of the Arthdio¢¢se of Bimingh4 Report ofthe Trustees for the Yar Eoded 31st Mr¢h 2025 Grant Mking Polky It is throug1] the provision of disrtionary gTwJts th th¢ Johnson Association seek5 to fulfil its objective to support the S¢¢ular Cl¢rgy of the ArChdIeSe. who cm accouni of age or infirniity. are no longer abl¢ to continue th¢ir porrxhial Work and to supyort Fyiests WI xe suffering temFrfJfdry illness. The review and governanc¢ of the grnnt making p)licy is an important priority for the Trustee Following confinnation from the Archdiocese that a Prtest has retiresl the Tetired priest may apply for a discretionary granL 11 15 exted that the applicant's financial arrangements are di11>$ed in full. and th any major financial matters are detailed e.g. the ]a¢k of 4 full pension, fittanei81 demands &% a resul¢ of fvll-time nursing care. savings and inves¢menLK prive income. The Tntsttes also ensure the applicant h&s upheld the requirements and obligations of th¢ Associatirn. The appli¢atiort is scrntinised ty the and a j¢ment is made on the awarding of a gran¢ either in full or in part depending up)n the individual's circum5tance5. The TnLS¢ees do have a single grdnt figure for every case Inste4 the Tnle¢S give their attention and Sup[ on those wlH)se need bs greatesL within an agreed range. The Trustees review each grant offered to the Tecipients iftheir circumstances have chang This is an ongoin8 activity. MiD xctivitits undertaken to furtbtr tht Charity's pDrposts for public b¢nefrt When planning the grant making activity of the Association the trustees have considered the Charity Commission's guid4n¢e on publi¢ ben¢fft in pirticujar. the specific guidance on djarities for the relief of poverty and they have also had rtgard to the specific guidance ort charities for the advan¢em¢nt of religion. The Association makes grants PTinc1IlY to rdired clu8y. Such fmancial assistsnce is needed to assist retired clergy towards matntaining their standard of living ikning retiremenL The makTll8 of grants depends on the circumstance5 of the recipienL The clergy are valued members of society: building and 5trengtherting communitie4 supporting the dying and bereaved, ministering to the sick at hom¢ and in hospitsl. caring for the poor and marginalised. visiting those in Prison and providing SPiTity41 and mornl edu¢ati¢M for children. Review of #rtivities During the y¢ar the A&80¢i4tiLM h&$ continued w f(Kus on its xtivitie5 of raising fimds to provide financial assist4n¢e to rdired ond incapa¢iwed priests. In¢om¢ 1$ received from a levy paid by the parishes of the Ar¢hdiocese of Bimingham together with an onnual se¢(YKf ¢oll¢¢tion rn ChuT¢he5 within the area. This is supplemented by general (k)nation& leg4¢i¢s and income Te¢eived from our invesiments which are carefully monirored by our invastsnent managers Quilter ChevioL The Trnstees monitor their athievement and Fthance in their ability to care and sUPPOrt growing numbers of Secular Clergy who rely on the Association's provtsion today and in the full, while keepiog an appropriate balance between current funding and financial provision for fithwe generation& Number of Secular Clergy Supported: 2020 2021 2022 2023 2024 2 58 65 56 57 61 56 The fore¢ of members r¢tiMnent is expected to grow Signifitty in the next few Yea due to the age profile of the Sxular Clergy in the Ahd1¢s¢ of Bimingham. To support our (Jjeaive, the Twmees have sought to clfvIlY ex8mine the financial perfonnance of the Asso¢iatioÈJ. in aordanCe with the financial policy and risk maTwg¢m¢ni. Given th¢ level of uncertainty in ihe financial investtnents. the treeS have soughi to m&ximise th¢ poteniial InCe frc4n the Annual November COlle10n and to have a closer relationship with benefado Poge 5
lThe JohTrsoTr orSe¢ulwr Clergy ASWCil¢i04 of iht AT¢hdioc¢s¢ of Birmingknm Rep¢+rt orth¢ TnteS for the Year Ended 31st Mar¢h 2Q25 Fundraising activitie5 in¢om¢ getterntion The Association raises funds through an annual second collection in the Churches of the Arehdi(we of Binnirtgham. DationS aye also made through Standing (kder payments and through the Association's website. There were no complaints rK¢iv¢d by the Asl&tion th)ut activities by th¢ As14til or by ? person on behalf of the Association for the purp05¢ of fimdrai5ing. The A&w¢iation Iw tsken measures to protect vulnerable people and other memb¢r5 of the public from the following Ixhaviour5 in the course of or in connec¢ion with fundrnÈsin8 activities: Unreasonabl¢ in1nlOn ort a person's privacy. Unre&sonable persisient aPprhe$ for the wrpose of solicitirtg or otheNise wocuring money or oth¢r property on behalf of the charity. Placing undue pressure a F¢Tson to give m(mey orother iyopeity. Investm¢D¢ Nbli¢y and perfonllxttce Previously. the core of the Association's income was derived from donations and legacies, which by their nature are subject to fluctuations. To sustain a level of income sufficient to meei demands on its resources, the Association requires a significant ¢4)i¢41 bas¢ and the tyus¢ees have mairtiained an active investment policy to provide a degree of stsbility w]d certainty in income level> The aim is io matntain and. if possible. incmse the real value of the monies invesd In doing thi& sufficient income should be generdied io supplement the core income and pmvide the annual fimds needed to rneet the objectives of the Association. The Charity regularly reinvests any surplus it re¢eives (usually from bequests) into its portfolio, to ensure that its investments are secure and growi aThJ its dividends are sufficient to cover th¢ expec¢ increase in fu¢ur¢ grnnt alIcatiOns. Investments held by the Asxxiation, whi¢h ar¢ shown at n(¢ 10 of the xcoiint8 were acquId ift ac¢ordance with the powers available to the trustres and the Trtt Act 210. The Charity's investment martagery QUi1r ChevioL aT¢ iD5tructed to generate a balance ltheen Capttal growth and incom¢ provided the wss income ea¢h year ¢x¢¢wts a minimum of £175.IX)O. Investsnent ineom¢ for the year tothll¢d £485.132 (2024: £443.487) 05 shown in note 4. The consistent level of in¢om¢ this y¢ar wn¢inues to r¢tl¢¢t th¢ wrent economic clim aNI a150 the need to maintsin a balance between income gen¢rJ¢ii)n and gn)wth. Lring the year there was an overall increase of 7.1% (nrt) irt the inve5tm¢rf wxffolio (2024: in¢se of 6.1%). The yield on investments for the year wa8 2.43% (2024: 2.45%k which w&% in line with expeclatlr 8iven the genernl market perforrnance. FINANCIAL REVIEW Flnanehl Perforniance During ihe year ended 31st March 2025, a lower level of legacies received of £107.391 (2024 - £476,609) has led to a decr¢ase in tIAal incom¢ to £703J32 from £1.018.810 in 2024. This is comprised of d(]n$ ond legacies of £218.200 (2024- £575.323) and investsneni income of £485.132 {2024- £443.487). Total grants paid directly to priests decreas to £381.985 from £429.525 in the pThious year and thi$ Contributed to a de¢re4se in t(Nal expenditure fr(Yn £530.029 to £479.731. A s[pIus before invesnnent 84ins of £223.fA)l. iknn from £488.781 in 2024. has resulte4L Investment values have in¢rea5ed by £317.093, compued to an increase of £1,094.488 in the previous year and total fvnds have increased by £540.694 compared an irKrease of £1583268 in 2024. Total unTestri¢ted funds as at 31st March 2025 were £20.407.851. Investments are maifttsined io provide eurrEnt and future grants and are therfore not ¢onsidered by the Tn kn be free Tesmies. The level of free rtser4es 31$¢ M2rd12025 w&4 £940.727. iknn frrmn £1.697.900 in th¢ PT¢V¥Mts year.
The Johjtson or St¢ular atw AsstsekntiDtt ofthe Arthdiotes¢ of Birniingh• Report ofihe Trysttts for th¢ Ytr Ended 31st Marth 21ns Going eoneern The financial strtements have been wepared on a going concern basis under the historical cost basis of accouniing rnles modified to xcount for investments at fair valu& Each year the review the value of the investtneni rtfolIO tn conjunrtion with the investment manager5 and the availability of c¥sh in the short tenn to ¢n5ure the Charity is a going concern. At the time of signing these financial staiements, the Trust have considered the going concern position and consider that the Charity will be able to continue to oimte for a period of at lea 12 months from the date of signing these financial ststements. The Charity h&4 a strong cash position of £765203 and net assets of £20.41m and on that basi& the TTUStees have prepaTd these fmancial statements on a goTng concern ixsts. Reserves pollcy It is the lICY of the Twstee5 to maintsin free reserve5 of the dwity at a level which equates to approximately eighteen to twenty-four months. grant p4yrnffl tsking into consideration likely changes in the number of rrfipi¢nts and the level of grant pAi Free reserves of £940.r27 at 31st Marth 2025 (2024: £1.697.) represents over 24 MLthS. wartt payments. L¢g4¢i¢s will be allocated to investsnent fiJn¢ts in order to Fvide in¢ome in future years in accordance with the charity's objeciives. The tNstees continue to monitor the level of free reserves and believe thaL b&sed upon the current value of the investment portfolio. the Association will be able fulfil its objectives in the short to mediuffl term. Banking ArrangeThents During the f]nancial year a new bank account was opuKd with the Cwerntive Bank to function &s the Bank Account for the newly created JoIlln C]ergy Association (Birminam} CIO (see n)lans for the future- below). A CUTr¢nt account 5aving5 account with reserves for grant payments for Thyo years is main¢aine(L The old bank ac¢ounts wtth the C(1¥¢ Bank remain open until all the standing orders have been su¢¢essfully transferred. {( thi$ is dcrt the old bgnk will be ck)5ed. PLANS FOR THE FUTURE Our firfure Obj¢rtLv ar¢ to ¢ll5ure that Sufficient finances are in plxe to be able to continue to ]sfy all sye$Sj] application$ for financial SupTL The number of Secular Clergy that we support has been growing each yeor Is the number of those retirtd grows. W¢ mu endeavour to ensure that we maintain and improv¢ the va]ue of our investsnent portfolio io enable us to meet this dvnand for our re50UfC¢S. The TTUStees decided (with approval of all munbers at the AGM) to change our charity status to a Clmrithble Incorporated Organisation (CIO). This place at the &)d of the finaneial year and all charitsble activities were trnnsferred to the Joljnson Clergy Association (Birniingham) CIO. charlty number 1207879 on 151 April 2025. DISCLOSURE OF INFORMATION TO AUDITORS Each of the persons who are Thtee5 at the iirne when this TnCeS. rewE is approved h&% ¢onfThed that so far as that Trustee is there is no relevant audit infmnattLM) of which the ¢haTity'$ audit3 are unaware, and that TTUStee has tsken all the step5 that to have been tsken as a Tnjstre in order th be aware of any relevant audit Infc*mll and to esthblish the Charl5 auditors aTe aware of that inforn]ation. Approved by orderof the membus of the IxArd of Tnw¢es on 7th Juty 2025 and $Ied their behalf by: Rev J Batthuia TTUStee
IndepeDdtTr¢ Auditor's Report to the Tntee¥ OC The JohM¥o# or £1#r Clergy Asy)ci•tlo of the Ald10t¢se ofBAn1neha Oplnlott We have audited the fitMncAal statheAts of The Johnson ty Setylar Clergy As%Jciation of th¢ Archdiocese of Bimiingharn (the 'charity) for the yeaT ended 3 1st March 2025 which CEIst the Ststement of Finan¢ial Activities the Ba]an¢e Shrt the Statement of Cash Flow& Notes to the Ststement of C45h Flows and Notes to the Financial Ststemen4 ineludtng a summw of signifi1 a¢counting policies. The finan¢ial r¢portin8 framework that has been applied in their preparlon is appli¢•ble law and Unitrd Kingdom Accounting Sthndard4 including Financial Reporting Standard I2 Tr Financial Rewiing Stsndard applicable in the UK and Republic of Ireland. (United Kingdom Genernlty Aeceptsj Acc(Amring Praaice). In our opinion the financial swemen give a true and fair view of the State of the Charity's affairs as at 31st Mx¢b 2025 and of its incoming re50urce5 and application of resourc forthe year then ended: have been prowly PTepared in accord with UnityJ Kingthm GenerlY Acceptrd A¢¢ounting have beoj prepared in )rth¢¢ with the Te4uir¢ments of the Clwiiies Act 2011. Bssls for oplDIoo We Conduthd our audit in xcordance with Internloal Stsndards Audiiing IUK) (ISAS (UK)) and applicable law. Our re4x)n$ibiltti¢s under those standards are further described in the Auditor¢ responsibiltties ftir the audit of the financial ststements sedion of our We are indepetht of the Chariry in accordance with the ethi rwuirtments that are relevant to our audil of the fmancial ststements in the United Kingdom. including the Firtan¢1 Reming Councifs Ethical Siand8rt and we have fulfilIed our other ethical responsibilities in accordance with these requirements. We believe that th¢ audit evidence we hav¢ obtained is sufficient and apprnprle io provi(k a E•5is for opinion. ConelusioDS retltlng to going eon¢e In auditing the financial statemen4 we have ¢¢lded that the Thw. use of the going conrun b&sis of a¢¢ountin8 in the PTeparation of the financial ststements is appTcyrM. Bed on the work we have perfornie(L we have not identifd any material uncerEainiies relating to events or condiiions tha( individualty or CO11¥ely. may C sIIrle8rt1 doubt on the charity's ability to ¢orttinue as a going concern for a wiod of * least rwelve months ftom when the fmancial ststements are authorised for issue. Our respOnsi111t1eS and the reswtsil)ililies of the Tn8 with te• to going concern aTr described in the relevant sections of this reF Olh¢r informtio The other information o)mFYises the Infornilott ineluded Tll the Annual Yeport other than the fman¢ial statements and our AuditOTS' report thereon. The Tftte% are r¢srrt)n5ible for the other information contained within the Annual reporL Our opinion the financial staments does not eover the other infornation an ex¢¢pi to the extent otherwise explicity SW¢d in our repor4 we &) not express any forni of assurance conclusion thereon. Our reswJnsTri Jility is to read th¢ other inforntIOn in doing so, consider whether the othw infoTTnation is materialty incowsiswit with the financial ststements or (r knowledge obtsined in the ¢OUT5e of the audiL or othenvise appeats to be materia]ly misststd If we identify such material inconsistencies or apparent material Misstatemen w¢ are required to dderniine whether thts gives rise to a material rnisstatement in the fujancial $eMents themselve& If. based on the WO we have rfOrnIC we L¥)nclude that there 15 a material misststement of thi5 oth¢r information. we are required to r¢pxt that facL We have nothTn8 to report in this regar
Indeptndtttt Auditor's Report to the Trustees of The Johnson or ser11T Clergy AsxKitio• of the Akd10t¢se ofBArmlngha Matters on Twhlth we are requlred to report by exetptlon We have nothing lo report in Te5pect of the following mattm in Tel10 whi¢h the Chwitie5 (Accounts and Reports) Regulaiions 2008 requires us ro rep)rt to you if. in wr opinion: the infonnation given in the financiat sthtrments is iticonsist¢nt in any Materi respeci with the Trusi¢es' Trt. suffi¢ient and pr<yer a¢¢ountin8 reuYd5 have nim been kepL the financial statements #re n( in agreement with the Kcounun8 reCth and r¢turn& we have received all the inforniation and explanations we requi for our audit. Ruponjlbllltkg of Trl A$ explain¢d more fvlty in the St•tenMt of Tnte reSpLStlIttles set out on page 3. the Trustees are responsible for the preparation of the financial seMentS and for su¢h internal control as the Trustees deterniine 1$ neees$8ry to enoble the ¢pantI0 of fiNn¢iai statements that ar¢ free from mthrial misstaternent. whether due io frnud or error. In preparin8 the financial sthtanent4 the Trustees are re4Th5ible for asfessing th¢ ChwiWs ability to continue as a 80in8 concern. disclosin& as applicable. m•tt¢rs related to 80in8 concern and using the goin8 concern basis of a¢¢ountin¥ unless the Trustees either intend w liquid¥e the Chty or to ceas¢ operation& or have no realisii¢ altnatIve but to do $0. Audltor'j respobIlItIeS for the awdli of the sfl¢m¢thts We have been appointed as auditor under Wlion 144 of the Charitiej Ad 2011 and report in accordan¢e with th¢ A¢1 and rekvani re8ulations made or havin8 effect therwider. Our objeciives are to obtain N%)nible assurance Aboui wheth¢r the financial statements as a whole are free frorn rnaterial missthtemenL whether due ¢0 frnud Ir error. and issue an Auditors, report in¢ludes our opinion. Reasonable assur8n¢¢ is a high level of UranCe, is not a gu•rantee that an audit cortducied in accordanc¢ with ISAS (UK) will always detect a rnateriAI missthtemeni when it exists. Misststements can arise frijm fraud or error and we considered material if. individually or in the aweg, they ¢ould re4sonably b¢ expected to influ¢n¢¢ the e¢on¢Jmi¢ decisions of users k¢n on the bAsis of these financial swements. Irregularities, including fraud Ire in#an¢es of non<ornpli•nR with laws and regul1, We design pmcedures in line with our respon$ibiliiies, outlined above, to deieu matrri81 m15S1atements in rtspea of irregularities, includin8 fraud. The extent whtch our kYo¢edures are le of d¢¢e¢¢ing irr¢gu]aritie4 including fraud is detailed below.. obtairting an understanding of the le8al and regUl(MY frwnework applicable to the Charity and how the Charity is ¢omplyin8 with thai framework. in¢lydin8 *went of finan¢i41 sta¢ement disclosures to underlying documentstion and other evidM¢e: obtainin8 an understsndin8 of the Charity's ¢ontroI environmet)i and how the Charity has applied rel¢vaD¢ control pro¢edure& thTou8h discussiws with Tntstees and management and by perforniin8 walkthrough tesiing over key areas: obtsinin8 an under5fanding of the Charity's risk assessrnt pro¢es5. includin8 the risk of fraud: reviewin8 meetin8 minui¢S of thos¢ ¢har8ed with 8overn&ice throughout the year. and perforniirt8 audit lestin8 to addres5 the risk of management override of controls. including testin8 journal entries and other adjysiments for appropriatene4 ¢vAluating the rntionale of si8nificoni transactions outside the nomial ¢ows¢ of activities and revi¢win8 accounting e5timate5 for bias. Page 9
Indep¢nd¢nt Auditor's Report to th¢ Trustees or The Johnson or Secul•r Clergy A550ti*liDn of ¢bt Archdiocese ofBirrningha WThil$t considering how our audit WO addressed the detection of irregularities. we also ¢onsidered the likelihood of detection based on our approach. Irregularities arising from fraud are inher¢ntly more difficult to deteci than those arising frorn error. Because of the inhereni limitations of an audit. there is a risk that we will detect all irr¢8ularitles including those leading to a m8terial misstatement in ihe financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financi41 Matements. as we will be less likely to become aware of instances of non-eomplian¢e. The risk is also greater regarding irregularities occurring due to froud rn¢h¢r than envr. as fraud involv¢s intentional concealment. forgery, collusion, ornission or misrepresentation. A further description of our re$pon$ibilities for the Audit of the financi statements is located on the Financial Reporting Council's website at.. www.fvc.or8.uklaudiiorsres)nSlbI11t1e$. This description fornis part of our Audiiors, report. Uye of our report This report is made solely to the Charity% trnst¢¢4 Os a body. in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work hos been undertaken so that we mighi stale to the Charity'$ tru$tees those matter5 we are required to stat¢ lo ihem in on Auditor5, report and for no oiher purpose. To the fullest extent permitted by law, w¢ do not accepl or ossume responsibility to anyone other than the Charity and its trustees. as a body• for our audit work, for this report. or for the opinions we have forn)ed. Rice & Co Llmiied Ststulory Audiior 14A Markei Place Uttoxeter Staffordshire ST148HP Date: 7th July 2025 Rice & Co LimÉted are eligible to a¢r 8$ auditors in temis of section 1212 of the Companles Act 2006. Poge 10
The Johnson or Seeular Clergy Assoelatton of lh¢ Arthdiocese of Birnilngham ststem¢nt of Financial Activitles for the Y¢8r Ended 31st Mareh 2025 Unrestriaed Funds 2025 Tota] Funds 2025 Totsl Funds 2024 Note Income: Donations and legacies Invesknents 218.200 485.132 218.200 485.132 575,323 443,487 Total in¢om¢ 703,332 703 332 1,018.810 ExpendÉture: Costs of raising funds Charitable aciivities Governance cos 49,909 392,775 37.047 49.909 392,775 37.047 44,810 443,018 42,201 Total expenditure 479.731 479.731 530,029 Net In¢ome for the yr 223,601 223.601 488.781 ]Y¢t gains on investments 10 317,093 317.093 1.094.487 N*t movefflent In funds 540.694 540.694 1.583268 Total fund$ brought forward 19.867.157 19,867.157 18.283.889 Totsl funds carried forward 16 20407851 20,407.851 19.867,157 The Ststement of Financial Activities includes all gain$ and1055e5 recognised in the year. All incoming resources and resour¢es expended derive from continuin8 a¢¢ivities. The note5 fonn part of these financial statemenLS Pagell
The Johnson or Secular Clergy Association of the Arcbdl¢xese ofBirminghm Bala¢¢ Sheet 4$ 131$t M#reh 2025 2025 2024 Note Flxed assets Investhients 10 19.467.124 18,169.257 CurTent *ssets Debtors Cash at bank and in hand 187.494 765.203 248.157 1,487.513 12 952.697 1.735.670 Liabillties Creditors: Amounts falling du¢ within one year 13 11.970 (37.770 Net eorren¢ Assets 940,727 1.697.900 Net assets 20 407,851 19.867 157 Tbe tsDd$ Of the Charity Unrestricted income fijnds 21 20,407.851 19,867.157 20.407,851 19,867.157 Approved by the Board of Trustees on 7th July 2025 and signed on its behalf by . Rev J Batthula- Trustee The notes fomi part of these financial statemenis Page 12
The Johnson or S¢eulr Ckrgy A9tIon ofthe Ar¢hdior¢ye of Birmlngham CoMolidted Statement of Cash Flows for the Year EDd¢d 31$t Mar¢h 2025 2025 2024 No Cash Ilows from operatlng aetivlt5es (229.051) 17.242 C$h flows fTom Inv¢stlng •¢tivltles Purchase of fixed asset investments DisP05al of fixed a58¢t investments Dividends and intere re¢eived fmm InVesth (2.850.435) 1.882.096 487.515 (1143.994) 2.191936 eash provlded byKuMd ID) Irvestm¢ts {480.824) 496,328 Ch•D8¢ In ¢Mh #nd eth equfvltnts ln the yur (709.875) 513.570 Cash and cath equivalents at the 18inning of the ye 1.5(Kl.024 986.454 C•$h and ¢•ih equlv*lents at the end of the yMr 790.149 1500 024 Pw13
The Johnson or Seeular Clergy Assoelatfon orth¢ Ar¢hdlocese of Blrnilngha Notes to th¢ Statement of Cash Flows for the Year Ended 31st M•r¢h 2025 I RECONCILIATION OF NET EXPENDITURE TO CASH CENERATED FROM OPERATIONS 2025 2024 Net eash Inflow from operatlng actfvltles Nd income Investment income Decreasel(inere8se) in prepayments and ac¢nJ¢d income Increasel(decrease} in a¢¢nlS and defrrred in¢ome 223,601 (485.132) 58280 (25.800) 488.781 (443,487) (37.878) 9,826 Net Cash provlded byl(used In) operntinz *ctivities 229.051 17.242 2 CASH AND CASH EQUIVALENTS 2025 2024 Intluded In th¢ bglan¢e sheet as eash at bank and In haffjd: Bank current accounts Bank deposi¢ a¢¢ounts Investment cash accounts 256,981 464,296 43.926 ,149,863 337.650 765,203 1.487.513 Included ltt the baJ8n¢e shett as flxed asset Investments: Investhient incorne accounts 24,946 12.511 790.149 1500,024 3 ANALYSIS OF CHANGES IN IYET DEBT Balance at 01.04.2024 Balance at 31.03.2025 flow5 Bank current ants Investsnent accounts Investment income ac¢ount$ 1,149,863
12.511 (892,882) (293,724) 12,435 256.981 43,926 24,946 1500.024 .174,171 325,853 The notes forni part of these financial sta*mertts Page 14
The Johnson or S¢eular Ckygy Associi¢ion of the Arthdloeese of Blml8ha Notes to the FlnTrdl Sttemettts for the Yr Ended 31st Mreb 21ns I STATUTORY INFORMATION The Johnson or Secular cler Association of the ArdlOteSt of Binning1 15 regiered with the Charity Commission (R¢gi5tration Number 238681). The charity C(rf1s a public benefit ¢n¢ity as defined by FRS 102. The presentation Curre of the financial ststanents is the Sl)ng{£). 2 ACCOUIYTINC POLICIES Basts of prep#rln8 th¢ flth4Cl1] ststemeTrts The financial statements have been prepArtd in aeeordartt with Accountin8 and Repxyting by Charities.. Ststement of Recomrnended Practice applicable to chariiies prtpaTing their a¢¢ounts in accrydan¢e with the Financial R¢portin8 Standard applicable in the UK and Republic of Iland (FRS 102) (¢ffective IM Jartts 2019)- Charities SORP (FRS 102). th¢ FIrKillI ReEIng Swidard applicable in th¢ UK aNI R¢pJblic of Ireland (FRS 102) and the Chariiies Act 2011. Golng ¢oll¢ern related to events or condiiions th may ost Si8nificant iJulx on the ability of the charitabk company to continue as 80in8 concern. Th¢ trustees have rnade this &sSeSsnTh1 in r¢spe¢i of a period of one year from the date of approva5 of Ihe financial sthtements and consider that no such maittial uncertainties exist. In¢•me All in¢oming resourtts Are included in the Stsment of Financill kniviiies (SOFA) en the charity Is Icgally entitled io the in¢ome after any performance conditions have been the amount e•n be mea5ur¢d reliably ond li is prolAble that the incfme will be received. Donations are r¢¢o8nised in the Sthtement of Financial Adiviiies when the charity hes been notified of the amount and the settlement date. If there are conditions attsched the donation and thts requires a level of perforn)an¢¢ before entitlement Can be obtsined then income 1$ deferred until those conditions are fvlly met or the ffiJlfilm¢nl of those conditions is within the control of the dwity and li is probabk that tlw will be fvifilled. No amouni is in¢luded in the fula1 XateM for volunteer tirne in line with the SORP (FRS 102). Legacies are recognised tn the Sthtem¢n¢ of Financial Activities when the charrty hes been notified of an impendift8 distribution or the legacy has been re¢¢iv¢d. Where the charity has been notified of a forthcoming legacy. but the amounl and ¢imin8 of receipt is not known. it is not reyised in the Swem¢n¢ of Fin8n¢ial Activities IM is included 8$ a contingent asset and di]05¢d in the Thxes to the financial StsteM Investment income is earned through holding ass¢ts for investmeni pury)w and 1$ included in the Statement of Financial Activities when the amount ¢th measured reliably. Inter income 1$ recognised using the effe1ve intertst rnethod and dividend income is recognised the charity's right w re¢¢ive payThKnt is e5thblished. Interest on fijnds held on de1t is in¢luded when receivable and the 4rnounl can be measured reliably by the charity. Ihi5 15 nonnally un notification ofthe inter¢st F4id or payable by the Bank. Expendlture All expenditure is accounted ftir on an wuals basis and has bets classified under he&lings that aggregate all costs related to the category. Expenditu is ¢015¢d where there 1$ a legal or ¢onstrudive obligation to make payments to third partie4 it is probAb]e the settlement will be required the aTrKxwi of the obligation can b¢ measured Page 15
The Johnson or Seeuknr Clergy Assoeltlon of the Arehdiotese of BlrnilDgh8m Notes to the Financial Sttements for the Year Ended 31st M*r¢ts 2025 2 ACCOUNTING POLICILS (con¢lnued) ExpeThdlture (contlThued) Resources expended have been alloeAted in th¢ Statement of Finftncial A¢¢ivi¢i¢s as follows: Costs of raising funds- feos paid io lo the ¢hariWs investment managers. Charitable o¢tivities - all expenditure directly and indirectly &5sociated with mee¢in8 the objectives of the Charity. including financial support provided. Governance costs- all expenditure relating directly or indirectly ¢0 the 8eneral running of the charity. Grants payable to third parties are wthin the charitable objectives 8nd are paid to provide fin8n¢ial support for a period of time. Grnnts ar¢ recognised in the StAternent of Financial Activities evenly over the period to whi¢h they relate. Support CO$ts include all overheads of the charity. These have been allocated to co5 of raisin8 funds, charitable activities and governance cosis on a basig consistent with the use of the resources. Investments Investhients are a foThn of basic financial instrurnent ond are Initially rKognised at their transA¢lion value and subsequenily measured at their fair value as at the balanc¢ sheet dute usin8 the closing quoted market price. The statement of financial activities includes the net 8ain$ ond losses ari$in8 on revaluation and dispo19 throughout the The charity does not acquire put optlons, derivattves or other compltx financial insthjments. The m•in form of fin8n¢ial risk fa¢ed by the ¢harity is that of volatility in equity Markets and investment market due to wider e¢onornic condition4 the attiiude of investors to investment risK Bnd chan8es in sentiment wKernlng equities and within particular sectors or sub Seciors. All gains and lo¢$ are tsken to the Statement of Financial Activities 8$ they arlse. Realised 8ains and losses on inve$tmertts are calculated as the dlfference between sales proceeds and their opening ¢Arrying value or Ihelr purchase value if acquired subsequent to the first day of the fingn¢ial year. Unrealised gains and losses are cal¢ulated as Ih¢ difference between the fair value at the year end and their c8rryin8 value. Realised and urtrealised investment Bains and losse5 are cornbined in the Statemeni of Financial Activities. Inve5tmenls are gthied at market value &$ at the balance sheet date. The statement of financial llclivities includes the net 8ains and I0e5 4ri5ing on the revaluation and di5P05ais throughout the year. Debtors and ¢redilorJ Debtors and creditors with no stated intore$t rnte and receivable or payable wiihin one year ore recorded at transaction price. Any losses arising from irnpairn]ent are recogni5ed in expenditure. Cash at bank aAd ID band Cash ai bank and in hand in¢lude5 cash and short tem highly liquid inve$lmeni8 with a short maturity of three monihs or le$$ from the date of acquisitlon or opening of the deposit or similar a0¢. Cash held within a portfolio of fixed asset investments is included part of fixed asset investhient$ where il is intended that this cash will utilised for ongoing investment activities. C&sh held within a portfolio of fixed asset investsnents which is not intended to be utilised for ongoing investment actiYiti¢s is included a5 cash at bank and in hand. Page 16
Tre Johnsots or Setolarclew Aswthtititt of th¢ Ar10¢eSe of BlrnilD8h8lhl Notes to the FAnn¢ll Stst¢thents for the Yar Ewled 31st Marrh 2025 2 ACCOUNTING POLICIES (¢ontiDued) Liabilities and provisions Liabilities are recognised when there is an obligation at the Bftlanee shea date as J result of a past eveni it is probable that a transfer of economic benefit will be r¢quir¢d in s¢tt]¢nML and the amount of the settlement can be estimed reliably. Provisions are Meas at the best estirna of the wu11 to settk the obligation. Wheff the effect of the tsme value of money is m8teria]. the provtSiOD is based on the present value of those amounts. discounted at the pre-tax diseount rnte reflects the Tisks specific kn the liability. Th¢ unwinding of the diseowii 1$ recognised in the Ststement of financial aciivities as a finance COM. Flnanelal Instruments The Chority only h&% finon¢ial &5s¢ts and financial liabilities of a kiThl that quolify as basic financial rUnts. Basic firtancial instnrnts are iniiially ff¢0]Sed ot trnn5Xtion value and subsequentty rnea5 at their settlement value with the excqrtion of bank loatls which are sth¢4uethly measured at amortised cost W5ing the effective interest method. Fund Genernl fi]nds are unrestricted fvnds which are available fty the diSet10n of the TruMe¢s in fisrtherance of the general objectives of the Charity and which have not been designa1 for other purposes. Designated fitnds comprise wvestyi¢d fimd5 that have been set aside by the Trustee5 forparticular purw) Taxatk>Th The charity is a charity within the me4ning of5chedule 3 of the Cfvrilies Art 2011 and is considered to pass the tests set out in Paragraph I S¢hedule 6 Finance Act 2010 and therefore it rnts the definition of a charitable company for UK ¢orporaiion tsx purpose5. 3 INCOME FROM tX)NATIONS AND LEGACILS UnTestric*d Total Funds 2025 Totsl 2024 Appeals- November collection Parish levy Donations L£gacies 44.491 44,491 48.OCM) 18.318 107.391 39.905 46.800 12,009 476.609 18,318 107J91 2182 218.200 575 323 4 INCOME FROM INVEmE Total 2024 Funds 2025 Income from lied investhKnts Bank interest 473.705 11.427 473.705 11.427 442.019 1.468 485.132 485.132 443.487 Page 17
The John50n or Setu18r Clergy Assocl*tlon of the Arehdioeese of Blrniinghllm Notes to tbe Flnanclal Statements tor ¢he Year Ended 31st March 2025 5 COSTS OF RAISING FUNDS Unrestricted Funds Total 2025 Toiol 2024 Investment mana8¢ment fees 49,909 49.909 6 EXPENDITURE ON CHARITABLE AcfiviTIES 2025 2024 Support Costs Unre$tri¢ted Funds Grants Paid Total Total Grantmgkin8 381983 392,775 392 775 443.018 7 ALLOCATION OF SUPPORT COSTS 2025 2024 Governance Cost$ Unrestricted Funds Grantmaking Total Tothl Le8BI and profe$3ional f¢¢$ Bank Charges Trusttt rneetin8 Costs Audii Bookkeeping Honoraria Sundry expenses 5.815 17.446 23,261 23261 34.118 66 315 11.400 1.108 11,970 1.548 3,000 1,975 1,108 11,970 1,548 6.000 3,950 1,108 11,970 1.548 6,(XlO 3.950 3,000 1.975 7.500 2,295 10,790 37,047 47,837 STAFF NUMBERS AND COSTS The avernge number of employees durlng the year was nil (2024- nil). During the fin9181 yeor, the following honoraria were ld.. lJnrestriei¢d Fund5 Total 2025 Total 2024 Rev P Fit2Patri¢k Rev J Gilbert Rev D Doran 1,500 3,000 3,000 3.000 3,000 6,000 7,500 The ASsoci10n is grateful for the valuable 5UPPOrt of volunteer workers engaged in various fundraising activities. No Trustee rtteived any remuneralion. benefits or expenses payments durting the financial year (2024- £nil). Page 18
The Johnson or S¢cMl•r Clergy Ass0cM¢M of the Arthdiocese of Blrnilngha Notts to the Flttn¢l41 Stst¢meilS ror the Yer E#dtd 3151 M•rch 2025 9 AUDITORS REMUNERATION 2025 2024 Feej payable to the Charitys fiuditor for the audit of thv fin1 sW¢m 11,970 10 FIXED ASSET I]YVESTMENTS Cojt or vlutlon At 1st April 2024 Additions Disposals Revaluations Movemeni in ush 18.169257 2.850,435 (1.882,096) 317.093 12.435 At 3 1st March 2025 19467 124 All the fixed asset Ire in list¢d inve5thJents and held in the UK. All invesknents are ¢arri at their fair value. Invesnnent in equi¢ies fixed Inter s¢¢urities are all traded in quoted publi¢ markets, primarily the London Stock Exchange. Holdin8s in conuThM investment funds, unit trusts and open- end¢d investment ¢ornpanies are at the bid price. The b15 of fair value for quoied invesunents 1$ equivalent io the market value. usin8 the bid prie¢. Asset sales pur¢h¢s rv rwised at the date of trade at Cost (that 1$ ¢helr transaction value). The historiclll cost of inv¢sDTr¢nts at 31# Marth 2025 w&$ £12,877J79 (2024: £11.318.667). I I DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2025 2024 Prepayments and x¢rwd in¢om¢ 187494 248 157 12 CASH AT BANK 2025 2024 Bank ¢UTrent accounts Bank dep05it acwunts Inve5trnent cash accounts 256,981 464,296 43,926 1.149.863 337.650 765 03 1487513 Pa8e 19
The Johnson or Seeular Clergy Assoelation of the Ar¢hdiocose of Birmlngham Notes to th¢ FIn¢la1 Ststements for the Ye8r Ended 315¢ March 2025 I? CREDITORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR 2025 2024 Accnjals ftirgrnnts payable Other accruals and deferred income 15.084 22,686 11,970 11.970 37.770 14 CONTINGEIYT ASSETS The charity h&s been made aware of a nurnb¢r of legacies that it is likely kn rettive. The amount and timing of these rxeipts is uncertain but they are prudently estimat¢d to amount to £300.000. IS TAXATION No tLxation is payable for the current or previou$ financial year as all surpluses arise from a¢¢ivities fiirthering the charitable objects of the ¢harity and are utilised for charitable purposes. therefore leading to exempiion frorn taxation. 16 uNREsfRIED INCOME FUNDS 2025 2024 Balance at start of year Nei in¢ome for the year Nel gainsl(losses) on invesbnents in year 19.867.157 223,601 317,093 18,283.889 488,781 1,094,487 Balance at end of year 20.407 851 19.867.157 17 ANALYSIS OF GROUP NET AETs BETWEEN FUNDS 2025 2024 Total Funds Unrestricted Funds Total funds Fixed asset investments CUnt assets Creditors within one year 19,467.124 952.697 (11.970) 19.467,124 952,697 {11.970) 18,169,257 ,735,670 (37,770) 20,407,851 20.407.851 19.867,157 18 RELATED PARTY TRANSAcfioNS The Charity has noi entered into any lated paty transaction during the year. nor are there any outstanding balances owing benve¢n related parties and the Charity at 3 Isi Mor¢h 2025. Page 20