lThe JOh1w￿ or Setujar aergy Aswciatbill oftb¢ Arehdio¢¢se of Birmingham Report orth¢ Tr4slees aid w￿1￿(181 Statements forthe Y¢Jr Emded 31st M*reh 20ts The Joknsott or &ttyJ*r atrLV Ass(*l•tlott of tht Ar¢hdlo¢es¢ ofBirThiMgh#m Contr￿ts of the Fin¥Jneial Sta¢¢rnents for the Y￿r Emd¢d 31st Mar¢h 2025 P4e Report of the Tn Report of the l￿deF￿d￿lt A￿lItOrS 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 Admi￿1$trntOr. Rev D Doran S¢¢r¢tsry: Can(m J Gilbert Alldltors: Rice & Co Limited Chartered Accountants Ststuiory Auditors 14a Market Pthe Uttoxeter Stsffordshire ST14 8HP Bankers: Th¢ C(werative Bank l Balloon Str¢ei Manchester M4 4BE Solicitors: Lodders LLP Number Ten Elm Court Arden Street Stratford Upon Avon Warwickshire CV37 6PA Investment Managers: lJilter Chevioi Senator House 85 Queen Victoria Street London EC4V 4AB Page I TheJOh]b%￿ or Secular CltfLY AMotl*tknn ofthe Arebdlot¢se of BIrnI￿gh* Report of the Trustees for the Ye*r Ended 31$¢ March 2025 STRU￿UR￿ 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 (ktoi*r 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 Ann￿1 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 [eMu￿tIon or eXP￿Se$ paid. Honoraria are paid to the Athninistrator pnd Se¢r¢t¥ry. who are not T￿￿tee5. Tn￿ are rg4uired to dixlose all relevant intrrests or activity with another choritrbl¢ tru5L A 'd￿lartIon of inlerest. is signed at every Meeting. The Chair of the Tn￿eS is aP￿inted ty the immedia*ly 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 T￿stee5 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 t￿sid¢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 T￿￿tee trainin& This serves as tsaining for th¢ newly appointed trU￿te$ 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¢ v￿￿able for our Organ1￿110n. The Tn￿￿e$ 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 C￿1¢. The change5 to the Charities Act 2022 whith is being ph￿1 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 T￿￿CeS 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 U￿t￿L Page 2 The Johnson or Seclllar Cleryy Assoclatlon ofthe Arehdloeese ofBITmlngh4tn Report of tbe Trustees for the Year Ettded 31st M*r¢h 2025 At our January Trustees meeting we dI￿U55¢d R¢sponsibl¢ Inv¢strnent- defined as: A siraiezv and practice lo in¢orporale environmenial, s￿1￿1 and governance {£SG) fociors In Invoimenl dec￿10￿5 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$ion. Quilrer Chevioi works in dialogue with those compsnies in which li invests, whi¢h in iurn (it is hoped) leads to positive change. Quitter Ch¢viot has an engagement pollcy-"We vote and engage with companies" The Trustees agreed that Responsible and Sustainable Investment should be a part of the brooder Financial Policy which would be di￿U5$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. Em*lrortmenial, so¢ial and governance {￿G) erliepla are a sel of slondord¥ ihol soclolly c0￿CID￿S impe$lors, such os a charlty. eonslder when T￿l¢wIll8 iheir Invesimenis. Environme￿￿1 erii*rla cortsidér h(Jw a ¢horlty p¢rf(YmS ￿ a sleward of nalure. Social ¢rlieria amine how 11 manages relallonshlps wlih employees. swppli¢rJ. CKTlomers. and ihe communliles wher¢ it operales. Governance deals wilh a chorltys leadership. *xe¢Milv¢ poy. audiis, Inlernal coKirols, ond horéholder r18￿$. Theréfore. Ihe inveslment managers ore enCo￿raged iu lok¢ a￿0￿nI 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 m￿crial 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 (A￿oUnts 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$0t￿b]e steps for ihe prevention and detection of fraud and (Ah¢r irre8ulariti¢s. Page 3 The Joh1￿￿ orsecuknr aergy As*th¢ion of the Ar¢hdiocese of Birmingham Report of the Tn￿tee8 for the Ye*r Ended 31st Marth 2025 The Board of Advlsers to the Trusttts (Deanery Reps) The Board of Advisers to th¢ TTU5te¢s ar¢ th¢ ¢l¢rgy r¢prtse#t•tive5 ¢le¢ted by their Deanery to reFYesent the Members of the Deanery keep the infornled as ￿ the physical wellbeing of the members. They are elected, also. to advise the tru*ee5 in ￿￿tte¥S relating lo the A550ciaM ￿VICe which the trustees mum listen to. Th¢ following rewesentativo ser4ed durin8 the year. Rev K Hooper Rev B Devanr Rev A F05t¢r S PirnliAt Rev M Egawhory Rev P Whi¢ldon Rev C iioBerson R¢v L Nguy¢n Rev D Lamb RevJGr Rev TNorton DAY-t(￿aY operntloos Responsibility for day.tfrday affairn of the A$￿ellI10n hts been dek8*d ￿ the thinistrator and s￿ret￿, Assoel*ted 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 Associ￿10n. The Johnson Tn￿ co1￿￿10n Limi1￿ has been dOrn￿t throughout re¢¢nt yeArs and was 'Struck in March 2025. Rlsk Man*￿Ment 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$ed in full. and th* any major financial matters are detailed e.g. the ]a¢k of 4 full pension, fittanei81 demands &% a resul¢ of fvll-time nursing care. savings and inves¢menLK priv*e income. The Tntsttes also ensure the applicant h&s upheld the requirements and obligations of th¢ Associatirn. The appli¢atiort is scrntinised ty the and a j￿¢ment is made on the awarding of a gran¢ either in full or in part depending up)n the individual's circum5tance5. The TnLS¢ees do have a single grdnt figure for every case Inste4 the Tn￿le¢S give their attention and Sup[￿ on those wlH)se need bs greatesL within an agreed range. The Trustees review each grant offered to the Tecipients iftheir circumstances have chang* This is an ongoin8 activity. M*iD xctivitits undertaken to furtbtr tht Charity's pDrposts for public b¢nefrt When planning the grant making activity of the Association the trustees have considered the Charity Commission's guid4n¢e on publi¢ ben¢fft in pirticujar. the specific guidance on djarities for the relief of poverty and they have also had rtgard to the specific guidance ort charities for the advan¢em¢nt of religion. The Association makes grants PTinc1￿IlY to rdired clu8y. Such fmancial assistsnce is needed to assist retired clergy towards matntaining their standard of living ikning retiremenL The makTll8 of grants depends on the circumstance5 of the recipienL The clergy are valued members of society: building and 5trengtherting communitie4 supporting the dying and bereaved, ministering to the sick at hom¢ and in hospitsl. caring for the poor and marginalised. visiting those in Prison and providing SPiTity41 and mornl edu¢ati¢M for children. Review of #rtivities During the y¢ar the A&80¢i4tiLM h&$ 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 Signifi￿tty in the next few Yea￿ due to the age profile of the Sxular Clergy in the A￿hd1￿¢s¢ of Bimingham. To support our (*Jjeaive, the Twmees have sought to cl￿fvIlY ex8mine the financial perfonnance of the Asso¢iatioÈJ. in a￿ordanCe with the financial policy and risk maTwg¢m¢ni. Given th¢ level of uncertainty in ihe financial investtnents. the tr￿￿eeS have soughi to m&ximise th¢ poteniial InC￿e frc4n the Annual November COlle￿10n 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¢ Tn￿te*S 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. D￿ationS aye also made through Standing (kder payments and through the Association's website. There were no complaints rK¢iv¢d by the As￿l&tion th)ut activities by th¢ As￿14til￿ 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¢ in1n￿lOn ort a person's privacy. Unre&sonable persisient aPpr￿he$ 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 inves*d 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 a￿lIcatiOns. Investments held by the Asxxiation, whi¢h ar¢ shown at n(*¢ 10 of the xcoiint8 were acquI￿d ift ac¢ordance with the powers available to the trustres and the Tr￿￿tt Act 21￿0. The Charity's investment martagery QUi1￿r 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. L￿ring 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¢ Yt*r 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 ML￿thS. wartt payments. L¢g4¢i¢s will be allocated to investsnent fiJn¢ts in order to F￿vide 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 JoIll￿n C]ergy Association (Birmin￿am} 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 sy￿e$S￿j] application$ for financial Sup￿TL 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 Th￿tee5 at the iirne when this Tn￿CeS. rewE is approved h&% ¢onfThed that so far as that Trustee is there is no relevant audit infmnattLM) of which the ¢haTity'$ audit￿3 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*m￿ll￿ and to esthblish the Charl￿5 auditors aTe aware of that inforn]ation. Approved by orderof the membus of the IxArd of Tnw¢es on 7th Juty 2025 and $I￿ed their behalf by: Rev J Batthuia TTUStee IndepeDdtTr¢ Auditor's Report to the Tn￿tee¥ OC The JohM¥o# or ￿£￿1#r Clergy Asy)ci•tlo￿ of the A￿ld10t¢se ofBAn￿1neha Oplnlott We have audited the fitMncAal statheAts of The Johnson ty Setylar Clergy As%Jciation of th¢ Archdiocese of Bimiingharn (the 'charity) for the yeaT ended 3 1st March 2025 which C￿E￿Ist the Ststement of Finan¢ial Activities the Ba]an¢e Shrt the Statement of Cash Flow& Notes to the Ststement of C45h Flows and Notes to the Financial Ststemen4 ineludtng a summw of signifi￿1 a¢counting policies. The finan¢ial r¢portin8 framework that has been applied in their prepar￿lon is appli¢•ble law and Unitrd Kingdom Accounting Sthndard4 including Financial Reporting Standard I￿2 Tr Financial Rewiing Stsndard applicable in the UK and Republic of Ireland. (United Kingdom Genernlty Aeceptsj Acc(Amring Praaice). In our opinion the financial swemen give a true and fair view of the State of the Charity's affairs as at 31st Mx¢b 2025 and of its incoming re50urce5 and application of resourc￿ forthe year then ended: have been prowly PTepared in accord￿ with UnityJ Kingthm Gener￿lY Acceptrd A¢¢ounting have beoj prepared in ￿)rth¢¢ with the Te4uir¢ments of the Clwiiies Act 2011. Bssls for oplDIoo We Conduthd our audit in xcordance with Intern￿lo￿al Stsndards ￿ Audiiing IUK) (ISAS (UK)) and applicable law. Our re4x)n$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 apprnprl￿e io provi(k a E•5is for opinion. ConelusioDS retltlng to going eon¢e In auditing the financial statemen4 we have ¢￿¢l￿ded that the Thw. use of the going conrun b&sis of a¢¢ountin8 in the PTeparation of the financial ststements is appTcyrM*. B￿ed on the work we have perfornie(L we have not identif￿d any material uncerEainiies relating to events or condiiions tha( individualty or CO1￿1¥ely. may C￿ sI￿Irle8rt1 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 respOnsi￿111t1eS and the reswtsil)ililies of the Tn￿￿8 with te• to going concern aTr described in the relevant sections of this reF Olh¢r inform*tio The other information o)mFYises the Inforni￿lott ineluded Tll the Annual Yeport other than the fman¢ial statements and our AuditOTS' report thereon. The Tft￿te￿% are r¢srrt)n5ible for the other information contained within the Annual reporL Our opinion the financial sta*ments 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 inforn￿tIOn 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 $￿eMents themselve& If. based on the WO￿ we have ￿rfOrnIC￿ we L¥)nclude that there 15 a material misststement of thi5 oth¢r information. we are required to r¢p*xt that facL We have nothTn8 to report in this regar Indeptndtttt Auditor's Report to the Trustees of The Johnson or ser￿11T Clergy AsxKi*tio• of the A￿kd10t¢se ofBArmlngha Matters on Twhlth we are requlred to report by exetptlon We have nothing lo report in Te5pect of the following mattm in Tel￿10￿ ￿ whi¢h the Chwitie5 (Accounts and Reports) Regulaiions 2008 requires us ro rep)rt to you if. in wr opinion: the infonnation given in the financiat sthtrments is iticonsist¢nt in any Materi￿ respeci with the Trusi¢es' T￿rt. suffi¢ient and prTh The charity is a charity within the me4ning of5chedule 3 of the Cfvrilies Art 2011 and is considered to pass the tests set out in Paragraph I S¢hedule 6 Finance Act 2010 and therefore it rn￿ts the definition of a charitable company for UK ¢orporaiion tsx purpose5. 3 INCOME FROM tX)NATIONS AND LEGACILS UnTestric*d Total Funds 2025 Totsl 2024 Appeals- November collection Parish levy Donations L£gacies 44.491 44,491 48.OCM) 18.318 107.391 39.905 46.800 12,009 476.609 18,318 107J91 2182 218.200 575 323 4 INCOME FROM INVE￿mE Total 2024 Funds 2025 Income from li￿ed investhKnts Bank interest 473.705 11.427 473.705 11.427 442.019 1.468 485.132 485.132 443.487 Page 17 The John50n or Setu18r Clergy Assocl*tlon of the Arehdioeese of Blrniinghllm Notes to tbe Flnanclal Statements tor ¢he Year Ended 31st March 2025 5 COSTS OF RAISING FUNDS Unrestricted Funds Total 2025 Toiol 2024 Investment mana8¢ment fees 49,909 49.909 6 EXPENDITURE ON CHARITABLE AcfiviTIES 2025 2024 Support Costs Unre$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 fin9￿181 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 ASsoci￿10n 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 Fltt*n¢l41 Stst¢meilS ror the Ye*r E#dtd 3151 M•rch 2025 9 AUDITORS REMUNERATION 2025 2024 Feej payable to the Charitys fiuditor for the audit of thv fin￿￿1￿ sW¢m 11,970 10 FIXED ASSET I]YVESTMENTS Cojt or v*lu*tlon 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 b￿15 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¢ FI￿n¢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 uNREsfRI￿ED 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 A￿ETs BETWEEN FUNDS 2025 2024 Total Funds Unrestricted Funds Total funds Fixed asset investments CU￿nt 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