CHARITY NUMBER 240301 THE COMMUNITY OF THE RESURRECTION OF OUR LORD FINANCIAL STATEMENTS 30 APRIL 2024 THE COMMUNITY OF THE RESURRECTION OF OUR LORD GENERAL INFORMATION Trustees Mr B Vwakeham MrA W A Cameron Miss S Hennessy Charlty Nurnber 240301 Sollcltors Charfes Russell Speechtys LLP S Fleet Place London EC4M 7RD Address Chades Russell Speechtys LLP 5 Fleet Place London EC4M 7RD Independent Examiner Roger J Seaton FCA 23 Greenhill Park Barnet Herts EN5 1HQ Inveslmgnl Manayrs CCLA Inveslmenl Management Limrted The CBF Church of England Funds Senator House 85 Queen VKtoria Street London EC4V 4ET IMS1337923253.1 THE COMMUNITY OF THE RESURRECTION OF OUR LORD TRUSTEES, REPORT FOR THE YEAR ENDED 30 APRIL 2024 The Trustees have p￿aS￿re in presenting their report and ￿cOUn15 for the year ended 30 April 2024. The Trust is managed by Trustees who have aLthority for overseeing the activilies of the Charity. There are no sub-committees. The original Trustees were appointed at the incept￿n of the Trust. Subsequent Trustees musl be domiciled in Great Britain and a member of the Anglican Communion. The power of appointment is exerased I￿ntlY by the SuperK)r. Assistant SuperKJr and Novice Mistress of the Order. If they do not make an appoint￿nI within six months of being asked lo, persons as detailed in the Trust Deed may make an appoin1n￿nI on their behalf. CONSTITUTION The Trust 15 registered as a charity under number 240301. tt was established by a Trust Deed dated 8 June 1903. In accordance wlh a Scheme daled 24 Juty 2006. Ihe custodian of the Charity is the Archbishop'5 Council. OBJECTS The object of the Trust for Ihe public benefft is lo supp(¥tthe work of The CcAnmunrty ofthe Resurrection of Our Lord. Grahamslown. South Africa Ithe -Communty"l. This 5UPPOrt includes providing fof the maintenance of the buildings and the general costs of the Community. Further to a deed dated 1 March 2006. in the evenl that the CommunTty 15 dissolved or cease5 to exist, the Trustees are to app￿ the income and capital of the Trust in relieving poverty amongst fomier members of the Community and. subject to that, in fijrthering the religious and other charitable work of the Anglican Church in South Africa. REVIEW OF ACTIVITIES AND ACHIEVEMENTS DURING THE YEAR The Trustees confirm that they have had due regard lo the Charity Commiss￿1n.$ guidanee on public benefit when rewewing ots'ectTves and activrties. The Trust has continued to pay grants in support ofthework ofthe Communty which is. itsew. registered as a Public Benefit Organisalion in Souih Africa. The Trustees have maintained close link$ with th8 Community and two of their number are f￿uent visrtors Io bt. As the Community faces Ihe challenges of old age and reducing numbers, and examines its role and fvture. the Twstees have continued their ongoing work with the Communbty and its adwsers in South Africa lo ascertain how best to delNer grants to where they are most needed and will be most effective. to the benefit oflhe wider communty. During the year a s￿nifICant eventwas the elecb'on of a new Mother Superior Imother Kekelehlso on 18 January 2024). and the Trustees have since particularly concentrated on developing the ielalionsl)ip with her ar￿ her team. WKS1337923253.1 THE COMMUNITY OF THE RESURRECTION OF OUR LORD TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2024 REVIEW OF FINANCIAL ACTIVITIES The accounts are prepared on the receipts and payments basis of accounting. The Income for the year was £61,13812023". £60,940). The expendiiure amounted lo £67,04212023." £11,397) including grants tolalling £59,30712023. £4,543). There was a decrease in net ￿rren1 assets for the year of £5.904. Unrealised investment gains totalled £135.304 {2023.. losses £23.1501. Fund balances carried fO￿ard amount lo £2,351,754 12023.. £2,222.354) of which £2.248,55512023'. £2.1113.251) is held in an endovlmenl fund. RISK ASSESSMENT The Trustees have examined the principal a￿a$ of the Trust's aetivty and considered the major risks which may arise. In the opinion of the Trustee5, the Trust has established a process and reviewed systems which, under normal condrtDns, should allow the major risks identif￿d by them to be managed lo an acceptable thl. INVESTMENT POWERS. POUCY AND PERFORMANCE The Trustees. investment powers are govemed by the Trust Deed. which pemiits the Trustees lo invest in such stock, shares and Investments as they see fft. The Trustees. policy is lo seek retums over the long lemi to". proV￿e for ieal increase irb annual expendrture preserve the capital base of the Fund This policy involves investing the Twsl's assets for a baLanced return as btheen inwme and capital. The Fund'5 inve51men15 have continued to be managed in conforniity with our policy and the Trust Deed. The Trustee5 have noted the satisfactory performance of the investments. RESERVES POUCY The Trustees have considered the ￿seNeS held by the Trust a5 at 30 April 2024. The Trust needs reserves both lo enable (( lo pff)g￿$S its long temi aims and lo proteet its Current activitEs. in order to allow the Trustees lo meet their responsibilrties and ensure that rt continues to luifil its obligations. The Trustees have examined the nee(J5. risks and challenges laced by the Trust in both the short and medium term, and have formulated a pdicy to meet Ih05e needs. WKS1337923253.1 THE COMMUNITY OF THE RESURRECTION OF OUR LORD TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2024 The Trustees note that the unrestricted fU￿lS. wh￿h at the year end date slcK%I al £103.199 (2023". £109.103}, exceeded their medium temi target. The Trustees note that reserves in general wll be adequate lo meet working ¢apital requirements and to hedge against fv1v￿ risks. including the e￿ment of risk arising from any future downturn in income receivab￿ fr(Mn the investments held. The I￿￿tee$, inlentw 1$ browjly to targel reserves of £50.000 li.e. around the level of one year's income) bul having regard a￿ayS lo the financsal needs of the Charity and of the Community. The Trustees review the tolal reserves posrtion reguL8rty, in conjunction wrth investment performance and their assessment of risks. 11 is antKipaled that future grant-making will bring the reserves lo around the target level. GRANT-MAKING POLICY The general policy is lo disburse grants taking into accounl the known needs of the Communty mmunicated by the Mother Superior. fvnds avaiL4ble. inveslmenl perfomiance and the resetves posilion. This year, responding lo specific req￿s¢S from the Community land having iegard lo other resources ol the Ccvmmunty locally) the Trustees awarded grants of £59.307 12023." £4.5431 from unresllicted funds, in accofdance with their long tem commilment to supporting the work of the Community. FUTURE PLANS The Truste8$ inlend to continue supp￿Ing the CLvnmunty lo best meet ils needs and charitable objectives. (S1337923253.1 THE COMMUNrrY OF THE RESURRECTION OF OUR LORD TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2024 STATEMENT OF TRUSTEES. RESPONSIBILITIES The Trustees are Tesponsible for preparing the Trustees. Annual Report and the accounts in accordance with applicable law and Unrted King¢Jom Accounting Standard5 (Unrted Kingdom Generally Accepted Accounting Practice). The law applicable lo charilies In England and Wales requires the Trustees lo prepare financial stalemenls for each financol year which give a true and fair view of the slate of affairs of the charity. and of the incoming resources and application of resources of the Ch￿ for that period. In preparing these financial ststemenls. the Trustees are Tequired to-. select Suitab￿ accounting poli￿ 8NJ then appty them consistently: observe the methods and principles in the Charit￿$ SORP.. make judgments and estimates that are reasonable and prudent.. slate whether applicable UK accounting standard5 have followed, subject to any material departures discbsed and explainwj in the financial statements.. and prepare the financial statements on the g¢yng concem basL% Un￿$$ il is inappropriate to presLme Ihal the charity will continue in operat￿. The Trus1&8s are responsible for keeping proper accounting records that dtschjse with reasonable accuracy al any lime the financial position of the charity and enable them to ensure that the financial slalemenls comply wrth the Chant￿S Act 2011. the Chanty (Accounts and Reports) Regulation$ 2008 and the provisions of the trust deed. They are atso re5pon$ible lor safeguarding the assets ollhe charity and hence for taking reasonable steps for Ihe prevention and deteclK)n of fraud and other irregularities. Approved by the Trustees on CL36 2025 and *gned theii behalf by Chaimian WKS1337923253.1 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE COMMUNITY OF THE RESURRECTION OF OUR LORD I report to Ihe charily trit5tees my exarn￿al￿ of Ihè accixJThls ol ihe chanly f¢y Ihe ytai en(Jed 30 April 2024. whth are set out ￿ pa9es 7 10 11 Responsibih.￿.eS and basi5 of rÈport As Ihe chafity s Iruslee5 you a￿ ie5lM)n%ble lu the preparaton of the accourtLS n acc(Kdance wilh the reqbirements ol the Charrties kn 2011 I'IIE Au'i I report in respecl ol my examwlKffi ol the ch&rty s ￿l￿ntS carried oui uThJer sectDn 145 of ihe Act and in carrying out my examin*ion I lolhJ%*d all the applicable Oireci,t￿5 gNen by Ibe Independent •xaminÈr'$ 5talement I have completed my examiTralion I conl.rm Ihal no maleiol mariers have come Io my alleniton in connection wrth Ihe examinalion gMTrJ me cause lo beheve that m any malerial respe accounting ￿¢0￿$ were ncl kept in respect of Ihe chariy as required by geciion 130 01 Ibe Aci. the accounts do n¢X accord IIK)se records I have no concerns and have come ￿￿0$$ olher mallers In connection with the examination 10 which aiiention shtsjkj be drawn in Ihts repc¥t In ordw 10 enable a pioper un¢Jerstan¢Jing ol the accounts 10 be reached qJ-L F